Document:

Exhibit 4.4

 

 

WESTROCK MWV, LLC

as Issuer,

 

THE GUARANTORS PARTY HERETO

 

and

 

THE BANK OF NEW YORK MELLON

as Trustee

____________________

 

Fourth Supplemental Indenture

 

Dated as of November 2, 2018

 

to

 

Indenture

 

Dated as of March 1, 1983

 

____________________

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

FOURTH SUPPLEMENTAL INDENTURE (this “Fourth Supplemental
Indenture”), dated as of November 2, 2018, among WestRock MWV, LLC, a Delaware limited liability company (as successor to
Westvaco Corporation, the “Company”), WRKCo Inc., a Delaware corporation (“WRKCo”), WestRock RKT, LLC,
a Georgia limited liability company (“WRK RKT” and, together with WRKCo, the “Existing Guarantors”), WestRock
Company, a Delaware corporation (the “New Guarantor” and, together with the Existing Guarantors and the Company, the
“Obligors”), and The Bank of New York Mellon (as successor to Irving Trust Company), a New York banking corporation,
as trustee (the “Trustee”) under the hereafter defined Indenture.

 

WHEREAS, the Company executed and delivered to the Trustee
an indenture (as previously amended and supplemented, the “Indenture”), dated as of March 1, 1983, providing for the
issuance and sale by the Company from time to time of its unsecured debentures, notes or other evidences of indebtedness (the “Securities”,
which term shall include any Securities issued under the Indenture after the date hereof);

 

WHEREAS, pursuant to an Agreement and Plan of Merger, dated
as of January 28, 2018, among the New Guarantor, WRKCo, Whiskey Merger Sub, Inc., a Delaware corporation, Kola Merger Sub, Inc.,
a Delaware corporation, and KapStone Paper and Packaging Corporation, a Delaware corporation, the New Guarantor will become the
ultimate parent of the Company;

 

WHEREAS, the New Guarantor desires to fully and unconditionally
guarantee all the monetary obligations of the Company under the Indenture (including obligations to the Trustee) and the full and
punctual performance within applicable grace periods of all other obligations of the Company under the Indenture (the “Guarantee”);

 

WHEREAS, the Company proposes in and by this Fourth Supplemental
Indenture to supplement and amend the Indenture in certain respects as it applies to Securities issued thereunder;

 

WHEREAS, pursuant to Section 901(9) of the Indenture, the
Trustee is authorized to execute and deliver this Fourth Supplemental Indenture without the consent of Holders of the Securities;
and

 

WHEREAS, all the conditions and requirements necessary to
make this Fourth Supplemental Indenture a valid, binding and legal instrument in accordance with its terms have been performed
and fulfilled by the Obligors and the execution and delivery thereof have been in all respects duly authorized by the Obligors.

 

NOW, THEREFORE, in consideration of the above premises, each
party agrees, for the benefit of the others and for the equal and ratable benefit of the Holders of the Securities, as follows:

 

 

    	 	1	 

     

    

 

ARTICLE ONE

 

REAFFIRMATION AND ACCESSION

 

SECTION 1.01. Reaffirmation. The Company hereby expressly
and unconditionally reaffirms each and every covenant, agreement and undertaking of such party in the Indenture.

 

SECTION 1.02. Note Guarantee.

 

(a) The New Guarantor unconditionally guarantees, on a joint and
several basis, to each Holder of Securities (including each Holder of Securities issued under the Indenture after the date of this
Fourth Supplemental Indenture) and to the Trustee and its successors and assigns, (i) the full and punctual payment of all monetary
obligations of the Company under the Indenture (including obligations to the Trustee) and (ii) the full and punctual performance
within applicable grace periods of all other obligations of the Company under the Indenture. The New Guarantor further agrees that
its obligations hereunder shall be unconditional, irrespective of the absence or existence of any action to enforce the same, the
recovery of any judgment against the Company (except to the extent such judgment is paid) or any waiver or amendment of the provisions
of the Indenture or the Securities to the extent that any such action or any similar action would otherwise constitute a legal
or equitable discharge or defense of the New Guarantor (except that such waiver or amendment shall be effective in accordance with
its terms).

 

(b) The New Guarantor further agrees that its Guarantee constitutes
a guarantee of payment, performance and compliance and not merely of collection.

 

(c) The New Guarantor further agrees to waive presentment to, demand
of payment from and protest to the Company of its Guarantee, and also waives diligence, notice of acceptance of its Guarantee,
presentment, demand for payment, notice of protest for nonpayment, the filing of claims with a court in the event of merger or
bankruptcy of the Company and any right to require a proceeding first against the Company or any other Person. The obligations
of the New Guarantor shall not be affected by any failure or policy on the part of the Trustee to exercise any right or remedy
under the Indenture or the Securities of any series.

 

(d) The obligation of the New Guarantor to make any payment hereunder
may be satisfied by causing the Company or another Obligor to make such payment. If any Holder of any Security or the Trustee is
required by any court or otherwise to return to the Company or any Obligor or any custodian, trustee, liquidator or other similar
official acting in relation to any of the Company or any such Obligor any amount paid by any of them to the Trustee or such Holder,
any applicable guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect.

 

(e) The New Guarantor also agrees to pay any and all costs and expenses
(including reasonable attorneys’ fees) incurred by the Trustee or any Holder of Securities in enforcing any of their respective
rights under its Guarantee.

 

(f) Any term or provision of this Fourth Supplemental Indenture to
the contrary notwithstanding, the maximum aggregate amount of the New Guarantor’s Guarantee shall not exceed the maximum
amount that can be hereby guaranteed without rendering this Fourth Supplemental Indenture, as it relates to the New Guarantor,
voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of
creditors generally.

 

    	 	2	 

     

    

 

SECTION 1.03. Benefits Acknowledged. The New Guarantor acknowledges
that it will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and that its Guarantee
and waivers pursuant to its Guarantee are knowingly made in contemplation of such benefits.

 

SECTION 1.04. Termination of Guarantee. The Guarantee shall
be automatically released and shall terminate upon (i) the merger of the New Guarantor with or into any other Obligor, (ii) the
consolidation of the New Guarantor with another Obligor or (iii) the transfer of all or substantially all of the assets of the
New Guarantor to another Obligor. At the request of the Company, and subject to Section 102 of the Indenture, the Trustee will
execute and deliver any documents, instructions or instruments evidencing any such release.

 

ARTICLE TWO

 

MISCELLANEOUS PROVISIONS

 

SECTION 2.01. Terms Defined. For all purposes of this Fourth
Supplemental Indenture, except as otherwise defined or unless the context otherwise requires, capitalized terms used herein and
not defined herein have the meanings ascribed to them in the Indenture.

 

SECTION 2.02. This Fourth Supplemental Indenture. This Fourth
Supplemental Indenture shall be construed as supplemental to the Indenture and shall form a part of it, and the Indenture is hereby
incorporated by reference herein and each is hereby ratified, approved and confirmed.

 

SECTION 2.03. Effectiveness. The provisions of this Supplemental
Indenture will take effect immediately upon its execution and delivery by the Trustee in accordance with the provisions of the
Indenture.

 

SECTION 2.04. Governing Law. THIS FOURTH SUPPLEMENTAL INDENTURE
SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

SECTION 2.05. Counterparts. This Fourth Supplemental Indenture
may be executed in multiple counterparts, each of which shall constitute an original, but all of which when taken together shall
constitute but one instrument.

 

SECTION 2.06. Headings. The headings of this Fourth Supplemental
Indenture are for reference only and shall not limit or otherwise affect the meaning hereof.

 

SECTION 2.07. Trustee Disclaimer. The Trustee accepts the
amendment of the Indenture effected by this Supplemental Indenture and agrees to execute the trust created by the Indenture as
hereby amended, but only upon the terms and conditions set forth in the Indenture, including the terms and provisions defining
and limiting the liabilities and responsibilities of the Trustee, which terms and provisions shall in like manner define and limit
its liabilities and responsibilities in the performance of the trust created by the Indenture as hereby amended, and without limiting
the generality of the foregoing, the Trustee shall not be responsible in any manner whatsoever for or with respect to any of the
recitals or statements contained herein, all of which recitals or statements are made solely by the Obligors, or for or with respect
to (i) the validity or sufficiency of this Supplemental Indenture or any of the terms or provisions hereof, (ii) the proper authorization
hereof by the Obligors by corporate action or otherwise, (iii) the due execution hereof by the Obligors and/or (iv) the consequences
(direct or indirect and whether deliberate or inadvertent) of any amendment herein provided for, and the Trustee makes no representation
with respect to any such matters.

 

    	 	3	 

     

    

 

SECTION 2.08. Separability. In case one or more of the provisions
contained in this Fourth Supplemental Indenture or in the Securities shall for any reason be held to be invalid, illegal or unenforceable
in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Fourth Supplemental
Indenture or of the Securities, but this Fourth Supplemental Indenture and the Securities shall be construed as if such invalid
or illegal or unenforceable provision had never been contained herein or therein.

 

SECTION 2.09. Successors and Assigns. All agreements of the
Company in this Fourth Supplemental Indenture and the Securities shall bind its successors and all agreements of the Trustee in
this Fourth Supplemental Indenture shall bind its successors.

 

 

 

 

 

 

 

 

    	 	4	 

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused this Fourth Supplemental Indenture
to be duly executed by their respective authorized officers as of the date first written above.

 

	 	Very truly yours,	 
	 	 	 	 
	 	WESTROCK MWV, LLC,	 
	 	 	 	 
	 	by	 
	 	        	/s/ John D. Stakel	 
	 	 	Name: John D. Stakel	 
	 	 	Title: Senior Vice President and Treasurer
	 	 	 	 
	 	WESTROCK COMPANY,	 
	 	 	 	 
	 	by	 
	 	 	/s/ John D. Stakel	 
	 	 	Name: John D. Stakel	 
	 	 	Title: Senior Vice President and Treasurer
	 	 	 	 
	 	WRKCO INC.,	 
	 	 	 	 
	 	by	 
	 	 	/s/ John D. Stakel	 
	 	 	Name: John D. Stakel	 
	 	 	Title: Senior Vice President and Treasurer
	 	 	 	 
	 	WESTROCK RKT, LLC,	 
	 	 	 	 
	 	by	 
	 	 	/s/ John D. Stakel	 
	 	 	Name: John D. Stakel	 
	 	 	Title: Senior Vice President and Treasurer

 

 

 

[Signature Page to Supplemental Indenture]

 

     

     

    

 

	 	THE BANK OF NEW YORK MELLON,
	 	 	 	 
	 	as Trustee	 
	 	by	 
	 	 	/s/ Francine Kincaid	 
	 	 	Name: Francine Kincaid	 
	 	 	Title: Vice President	 

 

 

 

  

 

 

 

 

 

 

 

 

[Signature Page to Supplemental Indenture]Exhibit 4.5

 

 

WESTROCK MWV, LLC

as Issuer,

 

THE GUARANTORS PARTY HERETO

 

and

 

THE BANK OF NEW YORK MELLON

as Trustee

____________________

 

Fifth Supplemental Indenture

 

Dated as of November 2, 2018

 

to

 

Indenture

 

Dated as of February 1, 1993

 

____________________

 

 

 

 

 

 

 

 

 

 

     

     

    

 

FIFTH SUPPLEMENTAL INDENTURE (this “Fifth Supplemental
Indenture”), dated as of November 2, 2018, among WestRock MWV, LLC, a Delaware limited liability company (as successor to
MeadWestvaco Corporation, the “Company”), WRKCo Inc., a Delaware corporation (“WRKCo”), WestRock RKT, LLC,
a Georgia limited liability company (“WRK RKT” and, together with WRKCo, the “Existing Guarantors”), WestRock
Company, a Delaware corporation (the “New Guarantor” and, together with the Existing Guarantors and the Company, the
“Obligors”), and The Bank of New York Mellon (as successor to The First National Bank of Chicago), a New York banking
corporation, as trustee (the “Trustee”) under the hereafter defined Indenture.

 

WHEREAS, the Company executed and delivered to the Trustee
an indenture (as previously amended and supplemented, the “Indenture”), dated as of February 1, 1993, providing for
the issuance and sale by the Company from time to time of its unsecured debentures, notes or other evidences of indebtedness (the
“Securities”, which term shall include any Securities issued under the Indenture after the date hereof);

 

WHEREAS, pursuant to an Agreement and Plan of Merger, dated
as of January 28, 2018, among the New Guarantor, WRKCo, Whiskey Merger Sub, Inc., a Delaware corporation, Kola Merger Sub, Inc.,
a Delaware corporation, and KapStone Paper and Packaging Corporation, a Delaware corporation, the New Guarantor will become the
ultimate parent of the Company;

 

WHEREAS, the New Guarantor desires to fully and unconditionally
guarantee all the monetary obligations of the Company under the Indenture (including obligations to the Trustee) and the full and
punctual performance within applicable grace periods of all other obligations of the Company under the Indenture (the “Guarantee”);

 

WHEREAS, the Company proposes in and by this Fifth Supplemental
Indenture to supplement and amend the Indenture in certain respects as it applies to Securities issued thereunder;

 

WHEREAS, pursuant to Section 901(9) of the Indenture, the
Trustee is authorized to execute and deliver this Fifth Supplemental Indenture without the consent of Holders of the Securities;
and

 

WHEREAS, all the conditions and requirements necessary to
make this Fifth Supplemental Indenture a valid, binding and legal instrument in accordance with its terms have been performed and
fulfilled by the Obligors and the execution and delivery thereof have been in all respects duly authorized by the Obligors.

 

NOW, THEREFORE, in consideration of the above premises, each
party agrees, for the benefit of the others and for the equal and ratable benefit of the Holders of the Securities, as follows:

 

 

    	 	1	 

     

    

 

ARTICLE ONE

 

REAFFIRMATION AND ACCESSION

 

SECTION 1.01. Reaffirmation. The Company hereby expressly
and unconditionally reaffirms each and every covenant, agreement and undertaking of such party in the Indenture.

 

SECTION 1.02. Note Guarantee.

 

(a) The New Guarantor unconditionally guarantees, on a joint and
several basis, to each Holder of Securities (including each Holder of Securities issued under the Indenture after the date of this
Fifth Supplemental Indenture) and to the Trustee and its successors and assigns, (i) the full and punctual payment of all monetary
obligations of the Company under the Indenture (including obligations to the Trustee) and (ii) the full and punctual performance
within applicable grace periods of all other obligations of the Company under the Indenture. The New Guarantor further agrees that
its obligations hereunder shall be unconditional, irrespective of the absence or existence of any action to enforce the same, the
recovery of any judgment against the Company (except to the extent such judgment is paid) or any waiver or amendment of the provisions
of the Indenture or the Securities to the extent that any such action or any similar action would otherwise constitute a legal
or equitable discharge or defense of the New Guarantor (except that such waiver or amendment shall be effective in accordance with
its terms).

 

(b) The New Guarantor further agrees that its Guarantee constitutes
a guarantee of payment, performance and compliance and not merely of collection.

 

(c) The New Guarantor further agrees to waive presentment to, demand
of payment from and protest to the Company of its Guarantee, and also waives diligence, notice of acceptance of its Guarantee,
presentment, demand for payment, notice of protest for nonpayment, the filing of claims with a court in the event of merger or
bankruptcy of the Company and any right to require a proceeding first against the Company or any other Person. The obligations
of the New Guarantor shall not be affected by any failure or policy on the part of the Trustee to exercise any right or remedy
under the Indenture or the Securities of any series.

 

(d) The obligation of the New Guarantor to make any payment hereunder
may be satisfied by causing the Company or another Obligor to make such payment. If any Holder of any Security or the Trustee is
required by any court or otherwise to return to the Company or any Obligor or any custodian, trustee, liquidator or other similar
official acting in relation to any of the Company or any such Obligor any amount paid by any of them to the Trustee or such Holder,
any applicable guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect.

 

(e) The New Guarantor also agrees to pay any and all costs and expenses
(including reasonable attorneys’ fees) incurred by the Trustee or any Holder of Securities in enforcing any of their respective
rights under its Guarantee.

 

(f) Any term or provision of this Fifth Supplemental Indenture to
the contrary notwithstanding, the maximum aggregate amount of the New Guarantor’s Guarantee shall not exceed the maximum
amount that can be hereby guaranteed without rendering this Fifth Supplemental Indenture, as it relates to the New Guarantor, voidable
under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors
generally.

 

    	 	2	 

     

    

 

SECTION 1.03. Benefits Acknowledged. The New Guarantor acknowledges
that it will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and that its Guarantee
and waivers pursuant to its Guarantee are knowingly made in contemplation of such benefits.

 

SECTION 1.04. Termination of Guarantee. The Guarantee shall
be automatically released and shall terminate upon (i) the merger of the New Guarantor with or into any other Obligor, (ii) the
consolidation of the New Guarantor with another Obligor or (iii) the transfer of all or substantially all of the assets of the
New Guarantor to another Obligor. At the request of the Company, and subject to Section 102 of the Indenture, the Trustee will
execute and deliver any documents, instructions or instruments evidencing any such release.

 

ARTICLE TWO

 

MISCELLANEOUS PROVISIONS

 

SECTION 2.01. Terms Defined. For all purposes of this Fifth
Supplemental Indenture, except as otherwise defined or unless the context otherwise requires, capitalized terms used herein and
not defined herein have the meanings ascribed to them in the Indenture.

 

SECTION 2.02. This Fifth Supplemental Indenture. This Fifth
Supplemental Indenture shall be construed as supplemental to the Indenture and shall form a part of it, and the Indenture is hereby
incorporated by reference herein and each is hereby ratified, approved and confirmed.

 

SECTION 2.03. Effectiveness. The provisions of this Fifth
Supplemental Indenture will take effect immediately upon its execution and delivery by the Trustee in accordance with the provisions
of the Indenture.

 

SECTION 2.04. Governing Law. THIS FIFTH SUPPLEMENTAL INDENTURE
SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

SECTION 2.05. Counterparts. This Fifth Supplemental Indenture
may be executed in multiple counterparts, each of which shall constitute an original, but all of which when taken together shall
constitute but one instrument.

 

SECTION 2.06. Headings. The headings of this Fifth Supplemental
Indenture are for reference only and shall not limit or otherwise affect the meaning hereof.

 

SECTION 2.07. Trustee Disclaimer. The Trustee accepts the
amendment of the Indenture effected by this Fifth Supplemental Indenture and agrees to execute the trust created by the Indenture
as hereby amended, but only upon the terms and conditions set forth in the Indenture, including the terms and provisions defining
and limiting the liabilities and responsibilities of the Trustee, which terms and provisions shall in like manner define and limit
its liabilities and responsibilities in the performance of the trust created by the Indenture as hereby amended, and without limiting
the generality of the foregoing, the Trustee shall not be responsible in any manner whatsoever for or with respect to any of the
recitals or statements contained herein, all of which recitals or statements are made solely by the Obligors, or for or with respect
to (i) the validity or sufficiency of this Fifth Supplemental Indenture or any of the terms or provisions hereof, (ii) the proper
authorization hereof by the Obligors by corporate action or otherwise, (iii) the due execution hereof by the Obligors and/or (iv)
the consequences (direct or indirect and whether deliberate or inadvertent) of any amendment herein provided for, and the Trustee
makes no representation with respect to any such matters.

 

    	 	3	 

     

    

 

SECTION 2.08. Separability. In case one or more of the provisions
contained in this Fifth Supplemental Indenture or in the Securities shall for any reason be held to be invalid, illegal or unenforceable
in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Fifth Supplemental
Indenture or of the Securities, but this Fifth Supplemental Indenture and the Securities shall be construed as if such invalid
or illegal or unenforceable provision had never been contained herein or therein.

 

SECTION 2.09. Successors and Assigns. All agreements of the
Company in this Fifth Supplemental Indenture and the Securities shall bind its successors and all agreements of the Trustee in
this Fifth Supplemental Indenture shall bind its successors.

 

 

 

 

 

 

 

 

 

 

    	 	4	 

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused this Fifth Supplemental Indenture
to be duly executed by their respective authorized officers as of the date first written above.

 

	 	Very truly yours,	 
	 	 	 	 
	 	WESTROCK MWV, LLC,	 
	 	 	 	 
	 	by	 
	 	        	/s/ John D. Stakel	 
	 	 	Name: John D. Stakel	 
	 	 	Title: Senior Vice President and Treasurer
	 	 	 	 
	 	WESTROCK COMPANY,	 
	 	 	 	 
	 	by	 
	 	 	/s/ John D. Stakel	 
	 	 	Name: John D. Stakel	 
	 	 	Title: Senior Vice President and Treasurer
	 	 	 	 
	 	WRKCO INC.,	 
	 	 	 	 
	 	by	 
	 	 	/s/ John D. Stakel	 
	 	 	Name: John D. Stakel	 
	 	 	Title: Senior Vice President and Treasurer
	 	 	 	 
	 	WESTROCK RKT, LLC,	 
	 	 	 	 
	 	by	 
	 	 	/s/ John D. Stakel	 
	 	 	Name: John D. Stakel	 
	 	 	Title: Senior Vice President and Treasurer

 

 

 

[Signature Page to Supplemental Indenture]

 

     

     

    

 

	 	THE BANK OF NEW YORK MELLON,
	 	 	 	 
	 	as Trustee	 
	 	by	 
	 	 	/s/ Francine Kincaid	 
	 	 	Name: Francine Kincaid	 
	 	 	Title: Vice President	 

 

 

 

  

 

 

 

 

 

 

 

 

[Signature Page to Supplemental Indenture]

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