Document:

Sublease Termination Agreement

 Exhibit 10.2 
 Sublease Termination Agreement 
 THIS SUBLEASE TERMINATION AGREEMENT
(“Agreement”) is made and entered into as of June 26, 2012, by and between TRANSCEPT PHARMACEUTICALS, INC., a Delaware corporation fka Novacea, Inc. (“Sublessor”) and. BIPAR SCIENCES, INC. a Delaware
corporation (“Sublessee”). 
 RECITALS 

A. Sublessor or its predecessor and Sublessee or its predecessor have heretofore entered into that certain Sublease dated as of
March 24, 2009 (the “Sublease”) for premises consisting of approximately 18,368 square feet, as described therein (the “Subleased Premises”), in the building located at 400 Oyster Point Boulevard, Suite 200, South San
Francisco, California (the “Building”), which forms part of the office building complex commonly known as Oyster Point Marina Plaza (the “Complex”). 
 B. Sublessor leases the Premises from the owner of the Building (the “Master Landlord”) pursuant to a certain lease agreement dated May 15, 2007 (the “Master Lease”). 

C. The Sublease has not heretofore been amended or assigned. 
 D. The Term of the Sublease commenced on June 1, 2009, and in the absence of this Agreement would have expired on October 31, 2012. 

E. The parties mutually desire to terminate the Sublease, all on and subject to the terms and conditions hereof. 

AGREEMENT 
 Now therefore, in consideration of the mutual terms and conditions herein contained and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
agree as follows: 
 1 TERMINATION EFFECTIVE DATE. This Agreement shall be effective
as an executory contract between the parties immediately upon their full execution and delivery of the Agreement to each other. The termination of the Sublease (subject to Section 3.2 hereof) provided for hereunder shall become effective at
11:59 p.m. on June 30, 2012 (the “Termination Effective Date”). 
 2 TERMINATION. Notwithstanding
anything to the contrary in the Sublease, the Term of the Sublease shall be deemed to have terminated and expired on the Termination Effective Date, subject to Section 3.2 hereof; provided, however, that if Sublessee shall violate any material
provisions hereof, or if Sublessee’s representations herein shall be false in any material respect, Sublessor shall have the right to declare such termination null and void and to reinstate the Sublease, in addition to, and not in lieu of, any
other rights or remedies that may be available to Sublessor. The Premises shall be deemed to have been surrendered by Sublessee on the Termination Effective Date, but Sublessee shall nevertheless fully comply with all obligations under the Sublease
through the Termination Effective Date, including those provisions relating to the condition of the Premises and removal of Sublessee’s personal property upon expiration of the Sublease. For purposes of this Agreement, the “Expiration
Date” set forth in the Sublease shall be understood to mean the Termination Effective Date as defined above. 
 2.1
Condition Precedent. This Agreement is expressly conditioned upon Master Landlord’s ability to enter into a two-year lease agreement with a new tenant for the majority of the Premises, and the partial termination of the Master Lease with
respect to the Premises on terms acceptable to Sublessor. If Master Landlord fails for any reason to enter into such a new lease agreement for the Premises on or before the Termination Effective Date, or if the Master Lease is not partially
terminated with respect to the Premises effective on or before the Termination Effective Date (including, without limitation, the failure of a condition to such partial termination) this Agreement shall be null and void and of no further force or
effect, and the Sublease shall continue in effect through its Expiration Date fully as though the parties had never executed and delivered this Agreement to each other. 

  
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 3 DISPOSITION OF PROPERTY. Notwithstanding
anything to the contrary contained in the Sublease, it is understood and agreed that Sublessee shall remove from the Premises all of Sublessee’s improvements, fixtures, and equipment. Sublessee shall leave upon the Premises improvements,
furniture, fixtures, and equipment described in Exhibit A (collectively “FFE”), and upon the Termination Effective Date, Sublessee hereby transfers all of Sublessee’s right, title, and interest (if any) in such items to
Sublessor, on an “as is where is” basis, fully as though by bill of sale. 
 3.1 Sublessee’s Furniture,
Fixtures, & Equipment. In consideration of Sublessor’s agreement to permit the termination of the Sublease effected under this Agreement, Sublessee agrees to transfer all its right, title, and interest in FFE to Sublessor by bill
of sale on the Termination Effective Date at no charge to Sublessor. 
 3.2 Temporary Use by Sublessee.
Notwithstanding anything to the contrary herein, Sublessor agrees that Sublessee shall be allowed to continue to utilize for its current purpose, on a temporary basis, in the portion of the Premises constituting the new Suite 212 (as depicted
on Exhibit B) that will be created on the Termination Effective Date through July 31, 2012, at no charge to Sublessee. The provisions of the Sublease shall survive during any such period, and apply to the use of such space. 

4 PAYMENTS, AMENDMENTS, SECURITY DEPOSIT. Sublessee shall continue to pay all rentals and other charges under
the Sublease through the Termination Effective Date, all of which shall be prorated on a per diem basis. Any undetermined charges may be billed to Sublessee when determined (and Sublessee’s obligation to pay the same shall survive termination
of the Sublease), or Sublessor may reasonably estimate such charges and require that Sublessee pay the same within thirty (30) days after Sublessor bills the same, subject to adjustment after the actual charges have been determined. Sublessor
and Sublessee agree that Sublessee shall not be required to pay a lease termination fee in connection with the partial termination of the Sublease agreed hereunder. The parties understand and agree that the in accordance with Section 5 of the
Sublease and Section 5.1.3 of the Master Lease, Sublessor shall promptly return to Sublessee any portion of the Security Deposit remaining as of the Termination Effective Date. 
 5 MUTUAL RELEASES. In consideration of Sublessor’s releasing Sublessee from the obligation to pay the balance of the rentals due under the Sublease and
executing this Agreement, and in consideration of Sublessee’s agreement to pay the amounts described in § 4 above and of the representations and other agreements herein contained, Sublessor and Sublessee hereby release and forever
discharge each other and their respective partners, officers, directors, agents, trustees, beneficiaries, and employees of and from any and all claims, liabilities, acts, damages, demands, rights of action, and causes of action which each party ever
had, now has, or in the future may have against the other arising from or in any way connected with the Sublease, except for those obligations and liabilities contained herein or reinstated pursuant to the provisions hereof. This release is intended
as a full settlement and compromise of each, every, and all claims and liabilities of every kind and nature. Both parties expressly waive any and all rights which they may have under § 1542 of the Civil Code of the State of California (or
such similar statutes), which provides as follows: 
 Sublessor and Sublessee understand and agree that by execution of this Agreement, the
other party and its partners, officers, directors, agents, trustees, beneficiaries, and employees do not admit any liability of any nature whatsoever. This Agreement is made entirely as a compromise and for the purpose of terminating the term of a
portion of the Sublease and settling and extinguishing the respective claims, acts, damages, demands, rights of action, or causes of action of Sublessor and Sublessee with respect to the Sublease. 

6 WARRANTIES AND REPRESENTATIONS. Each party represents to the other that it has full power
and authority to execute this Agreement. Each party represents to the other that, except as recited herein, it has not made any assignment, sublease, transfer, conveyance, or other disposition of the Sublease or any interest in the Sublease or the
Premises and that it has no knowledge of any existing or threatened claim, demand, obligation, liability, action, or cause of action arising from or in any manner connected with the Sublease or the Premises by any other party. Sublessee represents
that Sublessee has not at any time done or suffered, and will not do or suffer, any act or thing whereby the Premises or any part thereof are or may be in any way charged, affected, or covered by any lien or claim and shall indemnify, defend,
protect, and hold Sublessor harmless from all liabilities, claims, expenses, damages, or costs arising from the same, including (without limitation) attorneys’ fees and costs. 
 7 HOLDING OVER. Sublessee shall comply with Section 6 of the Sublease in the event that Sublessee (or any subtenants or other occupants of the Premises)
retains possession of the Premises or any part thereof after the 

  
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Termination Effective Date (except as set forth in Section 3.2) The foregoing provisions shall not serve to extend the Term, although Sublessee shall be bound to comply with all provisions
of the Sublease until Sublessee vacates the Premises. 
 8 NOTICES. Any notice given by any party to another party
hereto shall be by certified or registered mail, return receipt requested, postage prepaid, to such other party at the address given below or such other address as such other party may from time to time designate in writing to the other parties in
accordance with these provisions. The addresses set forth below shall supersede any addresses for notices set forth in the Sublease or in the Amendment. Any such notice shall be deemed given when placed in the United States mails with sufficient
postage prepaid. 
  

			
	Sublessee:	  	BIPAR SCIENCES, INC.
		  	c/o Sanofi Aventis US Inc.
		  	55 Corporate Drive
		  	Mail Code 55A-510A
		  	Bridgewater, NJ 08807
		  	Attn: Mark R. Shaw
		
		  	With copy to:
		
		  	Sanofi US Services Inc.
		  	55 Corporate Drive
		  	Mail Stop 55A-520A
		  	Bridgewater, NJ 08807
		  	Attn: General Counsel
		
	Sublessor:	  	TRANSCEPT PHARMACEUTICALS, INC.
		  	Attn: Dennie W. Dyer, Vice President Operations
		  	1003 West Cutting Boulevard, Suite 110
		  	Point Richmond, CA 94804

  
  
  

9 DEFINED TERMS. Terms used herein that are defined in the Sublease or the Amendment shall have the meanings
therein defined, unless a different definition is set forth in this Agreement. In the event of any conflict between the provisions of the Sublease, the Amendment and/or this Agreement, the terms of this Agreement shall prevail. 

10 SURVIVAL. Warranties, representations, agreements, and obligations contained in this Agreement shall survive the
execution and delivery of this Agreement and shall survive any and all performances in accordance with this Agreement. 
 11
COUNTERPARTS. This Agreement may be executed in any number of counterparts, which each severally and all together shall constitute one and the same Agreement. 
 12 ATTORNEYS’ FEES. If any party obtains a judgment against any other party or parties by reason of breach of this Agreement, reasonable attorneys’
fees and costs as fixed by the court shall be included in such judgment against the losing party or parties. 
 13
SUCCESSORS. This Agreement and the terms and provisions hereof shall inure to the benefit of and be binding upon the heirs, successors, and assigns of the parties. 
 14 GOVERNING LAW. This Agreement shall be construed and enforced in accordance with the laws of the State of California. 

  
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 15 WHOLE AGREEMENT. The mutual obligations of the parties as
provided herein are the sole consideration for this Agreement, and no representations, promises, or inducements have been made by the parties other than as appear in this Agreement. This Agreement may not be amended except in writing signed by all
the parties. 
 In witness whereof, the parties have executed this Agreement as of the date first above written. 

 

																	
		 	Sublessee:	 	 Sublessor:

			
	BIPAR SCIENCES, INC. a Delaware corporation	 		 	TRANSCEPT PHARMACEUTICALS, INC., a Delaware corporation fka Novacea, Inc.
									
		 	By:	  	 /s/ Mark L. Staudenmeier
	  		 		 		 		 	By:	 	 /s/ Thomas P. Soloway

		 		  	Mark L. Staudenmeier	  		 		 		 		 		 	Thomas P. Soloway
		 		  	        name typed]	  		 		 		 		 		 	        name typed]
		 	Its:	  	CFO	  		 		 		 		 	Its:	 	EVP & COO

  
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 Exhibit A 

 

									
	Partial Termination with Transcept	  	  		  	
	Transcept Furniture List	  				  		  	
	Suite 200, 400 Oyster Point Blvd.	  				  		  	
	Prepared: June 19, 2012	  				  		  	
	 	  	Total	 	  	 	  	 
	 General Office Area
	  				  		  	
	 Cubicles in Open Area
	  	 	17	  	  		  	
	 Desks in Private Offices
	  	 	30	  	  		  	
	 Chairs (rolling)
	  	 	78	  	  		  	
	 Chairs (guest)
	  	 	79	  	  		  	
	 Small Conference Tables
	  	 	10	  	  		  	
	 White Boards
	  	 	36	  	  		  	
	 High File Cabinet (metal)
	  	 	10	  	  		  	
	 Low File Cabinets (metal)
	  	 	34	  	  		  	
	 Tall Cabinets (wood)
	  	 	4	  	  		  	
	 Book Shelves
	  	 	19	  	  		  	
	 Small Refrigerators
	  	 	3	  	  		  	
				
	 Reception Area
	  				  		  	
	 Built-in Reception Desk
	  	 	1	  	  		  	
	 Sofa
	  	 	1	  	  		  	
	 Coffee Table
	  	 	1	  	  		  	
	 Cabinet
	  	 	1	  	  		  	
	 Small End Table
	  	 	1	  	  		  	
				
	 Kitchen
	  				  		  	
	 Refrigerator
	  	 	1	  	  		  	
	 Metal racks
	  	 	4	  	  		  	
	 Small Tables
	  	 	7	  	  		  	
	 Chairs
	  	 	23	  	  		  	
				
	 Innowave Water Chiller
	  	 	1	  	  		  	

											
				
	Storage Rooms	  				  				  	
	Shelves	  	 	13	  	  				  	
	Desks	  	 	2	  	  				  	
	Racks	  	 	8	  	  				  	
	Storage Cabinets	  	 	4	  	  				  	
				
	Main Conference Rooms	  				  				  	
	Large Conference Table	  	 	1	  	  				  	
	Leather Chairs	  	 	15	  	  				  	
	Sharp Flat Screen Monitor	  	 	1	  	  				  	
	Epson Projector	  	 	1	  	  				  	
	Glass White Board	  	 	1	  	  				  	
				
	Small Conference Rooms	  				  				  	
	Conference Room Tables	  	 	3	  	  				  	
	Epson Projectors	  	 	2	  	  				  	
	(Chairs and white boards included in total count)	  				  				  	
				
	Small Conference Rooms	  				  				  	
	Rolling Server Cabinet	  	 	1	  	  				  	
	Server Racks	  	 	2	  	  				  	
	Patch Panel	  	 	1	  	  				  	
	White Board	  	 	1	  	  				  	
	Metal Cabinet	  	 	1	  	  				  	
				
	Sanofi Shall Remove	  				  				  	
	Kitchen and Miscellaneous Equipment	  				  				  	
	Microwave	  				  	 	1	  	  	Belongs to Sanofi
	Toaster over	  				  	 	1	  	  	Belongs to Sanofi
	Toaster	  				  	 	1	  	  	Belongs to Sanofi
	Coffee Makers	  				  	 	2	  	  	Belongs to Sanofi
	Printers	  				  	 	7	  	  	Belongs to Sanofi
	Cannon Copier	  				  	 	1	  	  	Belongs to Sanofi
	Open Area Furniture	  				  				  	
	Tables	  				  	 	3	  	  	Belongs to Sanofi
	Sofas	  				  	 	2	  	  	Belongs to Sanofi
	Glass tables	  				  	 	2	  	  	Belongs to Sanofi

 EXHIBIT BEX-10.1

 Exhibit 10.1 
 AMENDMENT NO. 2 TO EQUITY PURCHASE AGREEMENT 
 This Amendment No. 2 to
Equity Purchase Agreement, dated as of June 26, 2012 (this “Amendment”), is entered into by and among Hicks Acquisition Company II, Inc., a Delaware corporation (“Buyer”), HH-HACII, L.P., a
Delaware limited partnership (the “Sponsor”), Appleton Papers Inc., a Delaware corporation (“Appleton”), and Paperweight Development Corp., a Wisconsin corporation (“PDC”).

 WHEREAS, Buyer, the Sponsor, Appleton and PDC are parties to that certain Equity Purchase Agreement, dated as of
May 16, 2012 as amended by Amendment No. 1 to Equity Purchase Agreement (the “Equity Purchase Agreement”), and Buyer and PDC are parties to that certain Cross Purchase Agreement, dated as of May 16, 2012 (the
“Cross Purchase Agreement” and, together with the Equity Purchase Agreement, the “Purchase Agreements”), and pursuant to the Purchase Agreements, through a series of transactions, Appleton will become
a non-wholly-owned subsidiary of Buyer; 
 WHEREAS, each capitalized term used, but not defined, herein shall have the
meaning given to such term in the Equity Purchase Agreement; and 
 WHEREAS, Buyer, the Sponsor, Appleton and PDC desire
to enter into this Amendment to amend the terms of the proposed Warrant Agreement Amendment to eliminate the ability of holders of Public Warrants to receive the Earn-Out Share Consideration (as defined in Amendment No. 1 to Equity Purchase
Agreement). 
 NOW, THEREFORE, in consideration of the mutual agreements contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree to amend the Equity Purchase Agreement as set forth herein: 

1. Amendment of Equity Purchase Agreement. 
 (a) The form of the Warrant Agreement Amendment is hereby amended and restated to read in its entirety as set forth on Exhibit A hereto. 

(b) Section 6.21 of the Equity Purchase Agreement is hereby amended and restated in its entirety as follows: 

6.21 Reservation of Buyer Common Stock. Buyer hereby agrees that at or prior to the Closing there shall be, or Buyer shall
cause to be, reserved for issuance and/or delivery, and Buyer shall thereafter maintain a reserve for issuance and/or delivery, such number of shares of Buyer Common Stock as may be (i) issued upon the exchange of the Company Class B
Exchangeable Units pursuant to the Exchange and Support Agreement, (ii) issued as Contingency Consideration, (iii) issued as Sponsor Warrant Earn-Out Shares and (iv) reserved under the Equity Incentive Plan. 

(c) Section 9.14 of the Equity Purchase Agreement is hereby amended by deleting the definition of “Earn-Out Share
Consideration” in its entirety. 
 2. Miscellaneous. 

(a) Ratification and Confirmation. Except as expressly set forth in this Amendment, the terms, provisions and conditions of the
Equity Purchase Agreement are hereby ratified and confirmed and shall remain unchanged and in full force and effect without interruption or impairment of any kind. 
 (b) Amendment Included. This Amendment shall be construed in connection with and as part of the Equity Purchase Agreement. Any and all notices, requests, certificates and other instruments executed
and delivered after the execution and delivery of this Amendment may refer to the Equity Purchase Agreement without making specific reference to this Amendment but nevertheless all such references shall include this Amendment unless the context
otherwise requires. 

 (c) Governing Law. This Amendment shall be governed by and construed in accordance
with the internal laws of the State of Delaware. Each of the parties hereto: (a) consents to submit itself to the personal jurisdiction of any state or federal court in the State of Delaware in the event any dispute arises out of this Amendment
or any of the transactions contemplated by this Amendment; (b) agrees that it will not attempt to deny or defeat such personal jurisdiction or venue by motion or other request for leave from any such court; and (c) agrees that it will not
bring any action relating to this Amendment or any of the transactions contemplated by this Amendment in any court other than such courts sitting in the State of Delaware. 
 (d) Binding Effect. This Amendment shall inure to the benefit of and be binding upon the parties hereto and their respective successors and assigns. 

(e) Entire Agreement. This Amendment (including the Schedules hereto and the documents referred to herein) constitutes the entire
agreement between the parties hereto and supersedes all prior agreements and understandings, oral and written, between the parties hereto with respect to the subject matter hereof. Except as set forth in this Amendment, provisions of the Equity
Purchase Agreement which are not inconsistent with this Amendment shall remain in full force and effect. 
 (f)
Severability. If any provision of this Amendment or the application thereof under certain circumstances is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Amendment will remain in full force
and effect. Any provision of this Amendment held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable. 

(g) Counterparts. This Amendment may be executed in any number of counterparts, each of which shall be deemed to be an original,
and all of which together shall be deemed to be one and the same instrument. 
 [SIGNATURE PAGE FOLLOWS] 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed
as of the date first above written. 
  

					
	HICKS ACQUISITION COMPANY II, INC.
		
	By:	 	/s/ Christina Weaver Vest
	Name:	 	Christina Weaver Vest
	Title:	 	CEO
	
	HH-HACII, L.P.
		
	By:	 	HH-HACII GP LLC, its General Partner
			
		 	By:	 	/s/ Christina Weaver Vest
		 	Name:	 	Christina Weaver Vest
		 	Title:	 	 
	
	APPLETON PAPERS INC.
		
	By:	 	/s/ Jeffrey Fletcher
	Name:	 	Jeffrey Fletcher
	Title:	 	VP Controller
	
	PAPERWEIGHT DEVELOPMENT CORP.
		
	By:	 	/s/ Jeffrey Fletcher
	Name:	 	Jeffrey Fletcher
	Title:	 	VP Controller

 EXHIBIT A 
 WARRANT AGREEMENT AMENDMENT 
 [Attached] 

 AMENDMENT NO. 1 TO WARRANT AGREEMENT 

This Amendment No. 1 to Warrant Agreement, dated as of July     , 2012 (this
“Amendment”), is entered into by and between Hicks Acquisition Company II, Inc., a Delaware corporation (the “Company”), and Continental Stock Transfer & Trust Company, a New York corporation
(the “Warrant Agent”). 
 WHEREAS, the Company and the Warrant Agent are parties to that certain
Warrant Agreement, dated as of October 8, 2010 (the “Warrant Agreement”); 
 WHEREAS, the
Company consummated its initial public offering on October 14, 2010, pursuant to which the Company issued 15,000,000 units; 
 WHEREAS, each unit issued in the Company’s initial public offering consisted of one share of common stock, par value $0.0001 per share, of the Company (the “Common
Stock”) and one warrant to purchase one share of Common Stock at an exercise price of $12.00 per share (such 15,000,000 warrants, the “Offering Warrants”); 

WHEREAS, pursuant to a private placement, simultaneously with the Company’s initial public offering, the Company issued to
HH-HACII, L.P., a Delaware limited partnership (the “Sponsor”), 6,666,667 warrants (the “Sponsor Warrants” and, together with the Offering Warrants, the
“Warrants”), with each Sponsor Warrant exercisable to purchase one share of Common Stock at an exercise price of $12.00 per share;  

WHEREAS, the terms of the Warrants are governed by the Warrant Agreement and each capitalized term used, but not defined, herein
shall have the meaning given to such term in the Warrant Agreement; 
 WHEREAS, the Company has entered into that certain
Equity Purchase Agreement, dated as of May 16, 2012 (as amended by Amendment No. 1 to Equity Purchase Agreement, dated as of June 20, 2012, and by Amendment No. 2 to Equity Purchase Agreement, dated as of June 26, 2012, the
“Equity Purchase Agreement”), with the Sponsor, Appleton Papers Inc., a Delaware corporation (n/k/a Appleton Papers LLC, a Delaware limited liability company) (“Appleton”), and Paperweight Development
Corp., a Wisconsin corporation (“PDC”), and that certain Cross Purchase Agreement, dated as of May 16, 2012 (the “Cross Purchase Agreement” and, together with the Equity Purchase Agreement, the
“Purchase Agreements”), with PDC, and pursuant to the Purchase Agreements, through a series of transactions, Appleton will become a non-wholly-owned subsidiary of the Company; 

WHEREAS, pursuant to the Equity Purchase Agreement, the Company agreed to seek the approval of the holders of its outstanding
Warrants to amend the Warrant Agreement to (i) with respect to the Offering Warrants, adjust the number of shares of Common Stock issuable upon the exercise of an Offering Warrant to one-half of one share of Common Stock and pay the holder of
such Offering Warrant $0.625 in cash and (ii) with respect to the Sponsor Warrants, adjust the number of shares of Common Stock issuable upon the exercise of a Sponsor Warrant to one-half of one share of Common Stock and, in addition, provide
that the holder of each Sponsor Warrant shall be entitled to receive 0.0879 shares of Common Stock, which shares shall be subject to forfeiture in the event the Common Stock does not achieve a certain stock price target (items (i) and (ii),
collectively, the “Warrant Proposal”); 
 WHEREAS, the Registered Holders of 65% of the Offering
Warrants have voted in favor of this Amendment and the Warrant Proposal. 

 NOW, THEREFORE, in consideration of the mutual agreements contained herein and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree to amend the Warrant Agreement as set forth herein: 

1. Amendment of Warrant Agreement. 
 (a) Section 3.1 of the Warrant Agreement is hereby amended and restated in its entirety as follows: 
 3.1 Warrant Price. Each Warrant shall, when countersigned by the Warrant Agent, entitle the Registered Holder thereof, subject to the provisions of such Warrant and of this Warrant Agreement, to
purchase from the Company the number of shares of the Common Stock stated therein, at the price of $12.00 per share, subject to the adjustments provided in Section 4 hereof and in the last sentence of this Section 3.1. The
term “Warrant Price” as used in this Warrant Agreement shall mean the price per share at which a full share of the Common Stock may be purchased at the time a Warrant is exercised. In the event a Warrant may be exercised to
purchase a fraction of a share of Common Stock, the exercise price to purchase such fractional share shall be equal to the Warrant Price multiplied by a fraction equivalent to the fraction of a share issuable upon exercise of such Warrant. For
example, if a Warrant is exercisable to purchase one-half of one share of Common Stock and the Warrant Price is $12.00, such one-half of one share of Common Stock may be purchased by the holder of such Warrant for $6.00. The Company in its sole
discretion may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than twenty (20) Business Days, provided, that the Company shall provide at least twenty (20) days prior written
notice of such reduction to Registered Holders of the Warrants and, provided further that any such reduction shall be identical among all of the Warrants. 
 (b) Section 4.3 of the Warrant Agreement is hereby amended by replacing the word “Whenever” at the beginning of the first sentence of Section 4.3 with the following: 

Except as set forth in subsections 4.4.1 and 4.4.2 (in which case no adjustments shall be made pursuant to this
Section 4.3), whenever 
 (c) Section 4.4 of the Warrant Agreement is hereby amended and restated in its
entirety as follows: 
 4.4 Adjustments in Connection with Equity Purchase Agreement; Replacement of
Securities Upon Reorganization, etc. 
 4.4.1 Adjustments to Offering Warrants. Upon the closing of
the transactions contemplated by that certain Equity Purchase Agreement, dated as of May 16, 2012, as amended (the “Equity Purchase Agreement”), by and among the Company, the Sponsor, Appleton Papers Inc. (n/k/a Appleton
Papers LLC, a Delaware limited liability company), a Delaware corporation (“Appleton”), and Paperweight Development Corp., a Wisconsin corporation (“PDC”), the Offering Warrants shall be adjusted as
follows: (x) the number of shares of Common Stock issuable upon the exercise of an Offering Warrant shall be adjusted to one-half of one share of Common Stock (such adjustment, the “Per-Warrant Share Adjustment”); and
(y) the Registered Holder of such Offering Warrant at such time shall be entitled to receive $0.625 in cash (the “Cash Consideration”); provided that the Warrant Price shall not be adjusted, pursuant to
Section 4.3 or otherwise, in connection with the Per-Warrant Share Adjustment. For the avoidance of doubt, assuming the Warrant Price is $12.00 per share of Common Stock immediately prior to the Per-Warrant Share Adjustment, the Warrant
Price shall remain $12.00 immediately after the Per-Warrant Share Adjustment and, as such, the holder of an Offering Warrant immediately after the Per-Warrant Share Adjustment shall have the right to purchase one-half of one share of Common Stock
for $6.00. After giving effect to the Per-Warrant Share Adjustment, the Offering Warrants must be exercised in pairs or, to the extent practicable, other amounts necessary to avoid the necessity of issuing fractional shares of Common Stock. The
Company will have the right to make rules, not inconsistent with the terms of this Agreement or the Equity Purchase Agreement, governing the manner of payment of Cash Consideration. 

  
 -6-

 4.4.2 Adjustments to Sponsor Warrants. 

(a) Sponsor Warrant Adjustment. Upon the closing of the transactions contemplated by the Equity Purchase Agreement,
the Sponsor Warrants shall be adjusted as follows: (x) the number of shares of Common Stock issuable upon the exercise of a Sponsor Warrant shall be adjusted pursuant to the Per-Warrant Share Adjustment; and (y) in addition, each Sponsor
Warrant shall entitle the holder thereof to receive 0.0879 shares of Common Stock (the “Sponsor Warrant Earn-Out Shares”), which shares shall be returned to the Company for cancellation, at no cost, in the event that the
Common Stock does not have a Trading Price (as defined below) of $12.00 or above per share for twenty (20) Trading Days (as defined below) out of thirty (30) consecutive Trading Days on or prior to the fifth anniversary of the closing of
the transactions contemplated by the Equity Purchase Agreement (the “Stock Target”) (such adjustment, the “Sponsor Warrant Adjustment”); provided that the Warrant Price shall not be adjusted, pursuant
to Section 4.3 or otherwise, in connection with the Per-Warrant Share Adjustment. For the avoidance of doubt, assuming the Warrant Price is $12.00 per share of Common Stock immediately prior to the Per-Warrant Share Adjustment, the
Warrant Price shall remain $12.00 immediately after the Per-Warrant Share Adjustment and, as such, the holder of a Sponsor Warrant immediately after the Per-Warrant Share Adjustment shall have the right to purchase one-half of one share of Common
Stock for $6.00. After giving effect to the Per-Warrant Share Adjustment, the Sponsor Warrants must be exercised in pairs or, to the extent practicable, other amounts necessary to avoid the necessity of issuing fractional shares of Common Stock. To
the extent impracticable to issue whole shares, the provision of Section 4.6 shall apply. The Stock Target shall be adjusted to reflect appropriately the effect of any stock split, reverse stock split, stock dividend (including any
dividend or distribution of securities convertible into Common Stock), extraordinary cash dividends, reorganization, recapitalization, reclassification, combination, exchange of shares or other like change with respect to the Common Stock occurring
on or after the date of the closing of the transactions contemplated by the Equity Purchase Agreement. “Trading Day” shall mean any day on which the Common Stock is traded and/or quoted on the Nasdaq Stock Market LLC
(“Nasdaq”) or, if Nasdaq is not the principal trading market for the Common Stock, then on the principal securities exchange or securities market on which the Common Stock is then traded; and (ii) “Trading
Price” shall mean, on any particular Trading Day, (A) if the Common Stock is quoted on Nasdaq or listed or quoted on another principal trading market, the closing or last reported price of a share of Common Stock for such Trading
Day on such trading market (as reported by Bloomberg L.P. or a similar organization or agency succeeding to its functions of reporting prices) or (B) in the event no trading price is established for the Common Stock for a Trading Day, the
greater of (x) the last price established for the Common Stock in the most recent preceding Trading Day on which the Common Stock was traded or (y) the last bid for the Common Stock in the most recent preceding Trading Day in which the
Common Stock was traded (in each case, as reported by Bloomberg L.P. or a similar organization succeeding to its functions of reporting prices). 
 (b) Change of Control. In the event a “Change of Control” (as defined below) of the Company occurs in which the Common Stock is valued in connection with such Change of Control equal to
or in excess of $12.00 per share prior to the earlier of (i) the time when all of the Sponsor Warrant Earn-Out Shares have ceased to be subject to forfeiture following the achievement of the Stock Target and (ii) the fifth year anniversary
of the closing of the transactions contemplated by the Equity Purchase Agreement, the Sponsor Warrant Earn-Out Shares shall cease to be subject to forfeiture pursuant to subsection 4.4.2(a). For the purposes of this Agreement, a
“Change of Control” shall have been deemed to occur with respect to the Company upon: 

(A) the sale, lease, license, distribution, dividend or transfer, in a single transaction or a series of related
transactions, of 50% or more of the assets of the Company and any corporation, partnership, joint venture or other legal entity of which the Company (either alone or through or together with any other subsidiary) owns, directly or indirectly, 50% or
more of the stock or other equity interests the holder of which is generally entitled to vote for the election of the board of directors or other governing body of such corporation or other legal entity (collectively,
“Subsidiaries”), taken as a whole; 

  
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 (B) a merger, consolidation or other business combination of the Company
(or any Subsidiary or Subsidiaries that alone or together represent all or substantially all of the Company’s consolidated business at that time) or any successor or other entity holding all or substantially all of the assets of the Company and
its Subsidiaries that results in the stockholders of the Company (or such Subsidiary or Subsidiaries) or any successor or other entity holding all or substantially all of the assets of the Company and its Subsidiaries or the surviving entity
thereof, as applicable, immediately before the consummation of such transaction or series of related transactions holding, directly or indirectly, less than 50% of the voting power of the Company (or such Subsidiary or Subsidiaries) or any
successor, other entity or surviving entity thereof, as applicable, immediately following the consummation of such transaction or series of related transactions; 

(C) a transaction or series of related transactions in which a majority of the board of directors or equivalent governing
body of the Company (or any successor or other entity holding all or substantially all of the assets thereof and its subsidiaries) immediately following or as a proximate cause of such transaction is comprised of persons who were neither members of
the board of directors nor nominated by the board of directors or a committee of the board of directors or equivalent governing body of the Company (or such successor or other entity) immediately prior to such transaction; or 

(D) any person or “group” (within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act as in effect on
the date of the closing of the Transactions contemplated by the Equity Purchase Agreement) shall obtain beneficial ownership (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) of the voting stock of the Company representing more than 50%
of the voting power of the capital stock of the Company entitled to vote for the election of directors of the Company. 
 4.4.3 Replacement of Securities Upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of the Common Stock (other than a change under subsections
4.1.1 or 4.1.2, Section 4.2 or subsections 4.4.1 or 4.4.2 hereof or that solely affects the par value of such shares of the Common Stock), or in the case of any merger or consolidation of the Company with or into
another corporation (other than a consolidation or merger in which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding shares of the Common Stock), or in the case of any
sale or conveyance to another corporation or entity of the assets or other property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the holders of the Warrants shall thereafter have
the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the shares of the Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the
rights represented thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or
transfer, that the holder of the Warrants would have received if such holder had exercised his, her or its Warrant(s) immediately prior to such event (the “Alternative Issuance”); provided, however, that (i) if the
holders of the Common Stock were entitled to exercise a right of election as to the kind or amount of securities, cash or other assets receivable upon such consolidation or merger, then the kind and amount of securities, cash or other assets
constituting the Alternative Issuance for which each Warrant shall become exercisable shall be deemed to be the weighted average of the kind and amount received per share by the holders of the Common Stock in such consolidation or merger that
affirmatively make such election, and (ii) if a tender, exchange or redemption offer shall have been made to and accepted by the holders of the Common Stock (other than a tender, exchange or redemption offer made by the Company in connection
with redemption rights held by stockholders of the Company as provided for in the Company’s certificate of incorporation or as a result of the repurchase of shares of Common Stock by the Company if a proposed initial Business Combination is
presented to the stockholders of the Company for approval) under circumstances in which, upon 

  
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completion of such tender or exchange offer, the maker thereof, together with members of any group (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) of which such maker is a part,
and together with any affiliate or associate of such maker (within the meaning of Rule 12b-2 under the Exchange Act) and any members of any such group of which any such affiliate or associate is a part, own beneficially (within the meaning of Rule
13d-3 under the Exchange Act) more than 50% of the outstanding shares of the Common Stock, the holder of a Warrant shall be entitled to receive as the Alternative Issuance, the highest amount of cash, securities or other property to which such
holder would actually have been entitled as a stockholder if such Warrant holder had exercised the Warrant prior to the expiration of such tender or exchange offer, accepted such offer and all of the Common Stock held by such holder had been
purchased pursuant to such tender or exchange offer, subject to adjustments (from and after the consummation of such tender or exchange offer) as nearly equivalent as possible to the adjustments provided for in this Section 4; provided
further, however, that if more than 30% of the consideration receivable by the holders of the Common Stock in the applicable event is payable in the form of common stock in the successor entity that is not listed for trading on a national securities
exchange or on the OTC Bulletin Board, or is not to be so listed for trading immediately following such event, then the Warrant Price shall be reduced by an amount (in dollars) equal to the quotient of (x) $18 (subject to adjustment in
accordance with Section 6.1 hereof) minus the Per Share Consideration (as defined below) (but in no event, less than zero), and (y): if the applicable event is announced on or prior to the third anniversary of the closing date of the
initial Business Combination, 2; if the applicable event is announced after the third anniversary of the closing date of the initial Business Combination and on or prior to the fourth anniversary of the closing date of the initial Business
Combination, 2.5; if the applicable event is announced after the fourth anniversary of the closing date of the initial Business Combination and on or prior to the Expiration Date, 3. “Per Share Consideration” means
(i) if the consideration paid to holders of the Common Stock consists exclusively of cash, the amount of such cash per share of the Common Stock, and (ii) in all other cases, the volume weighted average price of the Common Stock as
reported during the ten (10) trading day period ending on the trading day prior to the effective date of the applicable event. If any reclassification or reorganization also results in a change in shares of the Common Stock covered by
subsection 4.1.1, then such adjustment shall be made pursuant to subsection 4.1.1 or Sections 4.2, 4.3 and this Section 4.4.3. The provisions of this Section 4.4.3 shall similarly apply to
successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers. 
 (d)
Section 4.6 of the Warrant Agreement is hereby amended and restated in its entirety as follows: 
 4.6 No
Fractional Shares. Notwithstanding any provision contained in this Warrant Agreement to the contrary, the Company shall not issue fractional shares upon the exercise of Warrants. If, by reason of any adjustment made pursuant to this
Section 4, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall, upon such exercise, in lieu of such fractional share interests, pay to such holder
an amount in cash equal to the product obtained by multiplying (x) the fractional share interest to which such holder would otherwise be entitled by (y) the Trading Price on the exercise date. 

2. Miscellaneous. 
 (a) Ratification and Confirmation. Except as expressly set forth in this Amendment, the terms, provisions and conditions of the Warrant Agreement are hereby ratified and confirmed and shall remain
unchanged and in full force and effect without interruption or impairment of any kind. 
 (b) Amendment Included. This
Amendment shall be construed in connection with and as part of the Warrant Agreement and the Warrants. Any and all notices, requests, certificates and other instruments executed and delivered after the execution and delivery of this Amendment may
refer to the Warrant Agreement and the Warrants without making specific reference to this Amendment but nevertheless all such references shall include this Amendment unless the context otherwise requires. 

  
 -9-

 (c) Governing Law. The validity, interpretation and performance of this Amendment
shall be governed in all respects by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The Company hereby agrees that any
action, proceeding or claim against it arising out of or relating in any way to this Amendment shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and
irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. 

(d) Binding Effect. This Amendment shall be binding upon and inure to the benefit of the parties hereto and to their respective
heirs, legal representatives, successors and assigns. 
 (e) Entire Agreement. This Amendment sets forth the entire
agreement and understanding between the parties as to the subject matter thereof and merges and supersedes all prior discussions, agreements and understandings of any and every nature among them. Except as set forth in this Amendment, provisions of
the Warrant Agreement which are not inconsistent with this Amendment shall remain in full force and effect. 
 (f)
Severability. This Amendment shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Amendment or of any other term or provision hereof.
Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as part of this Amendment a provision as similar in terms to such invalid or unenforceable provision as may be possible
and be valid and enforceable. 
 (g) Counterparts. This Amendment may be executed in any number of counterparts and each
of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall constitute but one and the same instrument. 
 [SIGNATURE PAGE FOLLOWS] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed
as of the date first above written. 
  

			
	HICKS ACQUISITION COMPANY II, INC.
	By:	 	  

	Name:	 	  

	Title:	 	  

  

			
	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
	By:	 	  

	Name:	 	  

	Title:	 	  

  

			
	REGISTERED HOLDERS:
	
	[                            
            ]

  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	[                            
            ]

  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

  

Signature Page to Amendment No. 1 to Warrant Agreement

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