Document:

EX-10.6

 Exhibit 10.6 

TRANSITION SERVICES AGREEMENT 

TRANSITION SERVICES AGREEMENT (the “Agreement”) dated as of January 22, 2020, between Rank Group Limited, a
company organized under the laws of New Zealand (“Rank”), and Reynolds Consumer Products Inc., a Delaware corporation, (the “Company” or “RCP”). 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 the Commencement Date, the Company was a wholly owned subsidiary of Reynolds Group Holdings Limited, a
company organized under the laws of New Zealand (“RGHL”) and a wholly owned Affiliate of Rank. Effective February 4, 2020 (the “Commencement Date”), RCP is undertaking an initial public offering of shares of common
stock and thereafter the Company will no longer be a wholly owned affiliate of Rank. 
 B.    In order to facilitate the
separation of the Company and its Affiliates from Rank and its Affiliates, Rank will provide, or cause its Affiliates to provide, certain services to the Company and its Affiliates 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 any person, any other person who directly or indirectly, through one
or more intermediaries, controls, is controlled by, or is under common control with, such person. The term “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies
of a person, whether through the ownership of voting securities, by contract or otherwise, and the terms “controlled” and “controlling” have meanings correlative thereto. For the avoidance of doubt, for the purposes of this
Agreement and all exhibits thereto, the term Affiliate shall not apply to the relationship between Rank or RGHL or either of their respective Affiliates on the one hand and RCP and its direct and indirect subsidiaries on the other hand. 

“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 sale of consumer products including cooking products, waste & storage products, and tableware 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. 

“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). 
 “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. 
 “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”). 
 “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. 

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

“Recipient” has the meaning set forth in the preamble 

“Rank Guarantees” means all guarantees extended by Rank or RGHL or its Affiliates on behalf of the Company. 

 “Rank Letters of Credit” means all letters of credit, performance bonds or
other surety agreements that Rank or RGHL or its Affiliates have in place with respect to the Company. 
 “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, 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)    During the applicable Term of any Service, and in accordance with the terms and conditions of this
Agreement, Rank shall provide, or shall cause its Affiliates or, subject to Section 2.2, third parties to provide, to the Company or one or more of its Affiliates (in connection with the conduct of the Business) the
services described on Exhibit A hereto (the “Transition Services”). Notwithstanding the content of Exhibit A, Rank agrees to consider in good faith to 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. 
 Section 2.2    Performance by Affiliates or Subcontractors. Either Party may, in its
sole discretion, engage, or cause one of their 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, 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 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 that comply with the Sarbanes-Oxley Act of 2002 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 auditing standards issued by the U.S. Public Company Accounting Oversight Board. 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 to ensure the Company’s compliance with the Sarbanes-Oxley Act of
2002. 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)    The 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 the 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 their 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 their 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 the Provider on their own behalf or to their 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, the 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, the 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 the Provider on its own behalf or in respect of their Affiliates; provided that the 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)    Rank and the Company 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 Rank and the Company, including their contact information, are set forth on Exhibit B. 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 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 their 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    Providers’ 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, (ii) the Providers’ and their 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 Recipient or their 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 their 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 their Affiliates providing Services to the Recipient 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 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 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 (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 (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 Exhibit A, the Company may terminate for convenience any Transition Service upon 30 days’ prior written notice of such termination.
Upon termination of any Service pursuant to this Section 6.2, the Company’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). 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 when the Termination Date has occurred for all Services. 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: 
 (a)    each Party shall, and shall
cause its 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 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); and 

(b)    the intellectual property license granted by Section 8.2 shall terminate;
provided, however, that in the case of termination of a specific Service, such license shall terminate only to the extent such license was necessary for the provision or receipt of such Service and is not necessary for any other
Service that has not yet terminated. 
 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 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 and its Affiliates and
their authorized representatives in a manner that shall not interfere unreasonably with the normal operations of the Party maintaining the TSA Records. In connection with such review of TSA Records, and upon reasonable prior notice, a reviewing
Party and its Affiliates 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 RCP 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 RCP shall not unreasonably interfere with the conduct of the business of Rank and its Affiliates. 

(b)    After the Commencement Date, RCP 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 RCP (i) afford to Rank and its Affiliates and their respective employees and authorized representatives reasonable access to RCP’s employees and
auditors, (ii) retain all books, records (including accountant’s work papers), and other information and documents pertaining to the Business (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 RCP or its Affiliates, 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. 

Section 8.2    License. Each Party grants, and shall cause its Affiliates to grant, to the other Party and its
Affiliates, a royalty-free, non-exclusive, non-transferable, worldwide license, during the Term, to use the intellectual property owned by such Party or its Affiliates
(but excluding any trademarks) only to the extent necessary for the other Party and its Affiliates to provide or receive the Services, as applicable. Other than the license granted to a Party and its Affiliates pursuant to the preceding sentence,
neither Party nor its Affiliates shall have any right, title or interest in the intellectual property owned by the other Party or its Affiliates. 

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 their 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, 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 their 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 their relevant Affiliates to, minimize to the extent practicable the effect of the Force Majeure Event on their 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 the Recipient or any of its Affiliates) on behalf of the 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 Rank and its Affiliates, on the one hand, and the Company and its respective Affiliates, 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 Rank and its Affiliates, on the one hand, nor the Company and its Affiliates, 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, 
 Reynolds
Consumer Products Inc. 
 1900 W. Field Court 

Lake Forest, IL 60045 

	 	Attention:	 David Watson 

	 	Email:	 David.Watson@reynoldsbrands.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 provided, however, nothing in this
Agreement shall supersede any other agreement or understanding entered into in connection with the initial public offering of the Company. 

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    Letters of Credit and Guarantees. Rank and the Company shall use commercially reasonable
efforts to cause all Rank Letters of Credit and Rank Guarantees, in each case with respect to the Company, to be canceled or terminated, as of the Commencement Date such that Rank and its Affiliates shall be released and have no further obligation
or liability (contingent or otherwise) under such Rank Letters of Credit or Rank Guarantees (to the extent applicable to the Company) from and after the Commencement Date. With respect to any Rank Letters of Credit or Rank Guarantees not terminated
at the Commencement Date, RCP shall use commercially reasonable efforts to replace, cash collateralize or otherwise “backstop” such Rank Letters of Credit and Rank Guarantees at or prior to the Commencement Date. Following the Commencement
Date, RCP shall indemnify Rank and its Affiliates against any and all losses suffered or incurred in connection with the Company under the Rank Letters of Credit or Rank Guarantees. 

Section 10.12    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 10.13    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 10.14    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 10.15    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 by emailed scanned pages shall be effective as delivery of a manually executed
counterpart to this Agreement. 
 Section 10.16    Headings. The headings in this Agreement are for
reference only and shall not affect the interpretation of this Agreement. 
 Section 10.17    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/ Gregory Cole
	Name:	 	Gregory Cole
	Title:	 	Director
	
	Reynolds Consumer Products Inc.
		
	By:	 	/s/ David Watson
	Name:	 	David Watson
	Title:	 	General Counsel

 EXHIBIT A 

Transition Services 
 Section
A: Financial 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 RCP 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 RPC is SOX 404 ready; and
  

•  Consultation / assistance to respond to matters raised by external auditors.
	  	24 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 2020 and 2021.
  

•  Assistance with policy placement for the 2020 and 2021 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.
  

•  Assistance with claims management if required.

 
 Any costs for engaging external resources, including Aon services (which are separately
charged in their annual fee), will be passed through to RCP.
	  	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)

	A.3	  	Financial Services – SOX Compliance	  	In connection with RCP’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.	  	24 months from the Commencement Date	  	 $200 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 – such support to be provided by Steve Estes and/or Chris O’Brien, 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.2	  	 General HR –
 Relationship
Support Services
	  	Provision of relationship support services to the RCP payroll and benefits personnel relating to RCP’s establishment of separate instances of ADP and Empyrean, and separation of key vendor relationships including ADP, Empyrean,
Lockton, and others as required – such services to be provided by Steve Estes and/or Chris O’Brien, 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: Legal Services 
  

									
	 	  	 Service Name
	  	 Description of Service
	  	 Term
	  	 Fee (USD)

	C.1	  	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 compliance advice in relation to
certain agreements entered into in connection with the initial public offering of the Company, including the Company’s financing arrangements.	  	24 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.	  	24 months from the Commencement Date	  	 $190 per person / per hour

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

 EXHIBIT B 

Service Coordinators 
 To be
designated in writing from time to time by each party.Exhibit 10.1

 

SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

This SECOND AMENDED AND RESTATED EMPLOYMENT
AGREEMENT (the “Agreement”), dated as of February 3, 2020 (the “Effective Date”), is entered
into by and between Floor and Decor Outlets of America, Inc., a Delaware corporation (the “Operating Company”),
Floor & Decor Holdings, Inc., a Delaware corporation (f/k/a FDO Holdings, Inc.) (“Holdings” and, together
with the Operating Company, the “Company”), and Thomas V. Taylor, the undersigned individual (“Executive”).

 

RECITALS

 

WHEREAS, Executive is currently employed
by the Company as its Chief Executive Officer pursuant to an employment agreement with the Company, dated May 28, 2015, as amended
and restated July 29, 2015 (the “Prior Agreement”);

 

WHEREAS, pursuant to Section 10(e) of the
Prior Agreement, the Prior Agreement may be amended and restated by a writing signed by Executive and a duly authorized representative
of Holdings and the Operating Company (other than Executive); and

 

WHEREAS, the parties desire to amend and
restate the Prior Agreement in its entirety by entering into this Agreement, subject to the terms and provisions herein contained.

 

AGREEMENT

 

NOW, THEREFORE, the parties mutually agree
as follows:

 

1.         Employment.

 

(a)         Term;
Duties and Responsibilities. Beginning on the Effective Date, and through the Employment Period (defined below), Executive
shall continue to serve as the Chief Executive Officer of the Company. The term of employment hereunder shall commence on the
Effective Date and terminate on the third anniversary of the Effective Date, unless earlier terminated as set forth herein (“Employment
Period”): provided, that commencing on the third anniversary of the Effective Date and each anniversary date
thereafter, the Employment Period shall automatically be extended for one additional year (subject to earlier termination, as
set forth herein) unless, not later than 120 calendar days prior to any such anniversary date, either the Company or Executive,
in such party’s sole discretion, shall elect that such extension shall not take effect and shall have given timely written
notice of such election not to extend.

 

(b)         Duties
and Responsibilities. During the Employment Period, Executive shall at all times: (i) devote substantially all working time
and efforts to the business and affairs of the Company and its subsidiaries on a full-time basis, (ii) faithfully, industriously
and to the best of Executive’s ability, experience and talent, perform all duties that may be reasonably required by the
Company, and observe and comply with all rules, regulations, policies and practices of the Company in effect from time to time,
and (iii) with exception of serving on the boards of charitable organizations, engaging in charitable and community affairs and
activities and managing his personal investments, so long as such activities do not materially adversely interfere with the performance
of Executive’s Duties and Responsibilities (as defined below), not engage in any other business activities, as a director,
officer, employee or consultant or in any other capacity, whether or not he receives compensation therefor, without the prior
written consent of Holdings’ Board of Directors (the “Board”). Executive will report to the Board and
shall have all the authority, duties and responsibilities customarily exercised by an individual serving in the position of chief
executive officer at an entity engaged in a retail business that is national in scope, set forth in the bylaws of the Company,
provided in Delaware General Corporations Law § 142 or otherwise in the Delaware General Corporations Law and such additional
duties and responsibilities as may from time to time be assigned or prescribed to him by the Board (collectively, “Executive’s
Duties and Responsibilities”).

 

    	 	 	 

     

    

 

(c)         Board Membership. Executive shall be nominated to serve as a director on the Board for so long as Executive serves
as the Chief Executive Officer of the Company. Executive’s services as a member of the Board will be subject to any required
stockholder approval.

 

(d)         Location. During the Employment Period Executive’s principal place of employment shall be at the Company’s
principal executive offices, currently located in Atlanta, Georgia, with Executive being provided an office and secretarial and
administrative support that is customary for a similarly situated executive. Executive acknowledges that Executive is required
at all times to primarily perform his Duties and Responsibilities in the Company’s principal executive offices, except that
the Duties and Responsibilities to be performed by Executive hereunder are such that Executive may be required to travel extensively
at times.

 

2.         Compensation.

 

(a)         Base Salary. During the Employment Period Executive shall initially be paid a base salary (“Base Salary”)
at the annual rate of $950,000, payable in installments consistent with Company’s normal payroll practices. Executive’s
Base Salary shall be reviewed annually by the Board to determine, in the Board’s sole discretion, if such Base Salary should
be increased, provided that during the Employment Period under this Agreement the Base Salary shall not be decreased.

 

(b)         Annual Bonus. In addition to Executive’s Base Salary, during the Employment Period, Executive will be eligible
to earn an annual bonus (“Bonus”), contingent on the Company’s level of achievement against pre-determined
objectives, as approved in advance by the Board. Executive will be eligible to earn a Bonus equal to 100% of Base Salary for target
achievement of the pre-determined objectives. Executive has the potential to earn a Bonus in excess of 100% of Base Salary for
achievement of “stretch” goals that are established in excess of the pre-determined objectives. Executive’s Bonus,
if any, shall be paid to him at the time Bonuses are paid to executives generally and in the calendar year following the fiscal
year for which the Bonus is payable. Except as otherwise provided herein, Executive must be employed on the date that the Bonus
is paid in order to earn the Bonus (if any).

 

(c)         Payment. Payment of all compensation and other amounts to Executive hereunder shall be made in accordance with the
relevant Company policies in effect from time to time, including normal payroll practices, and shall be subject to all applicable
withholding, including employment and withholding taxes.

 

    	 	2	 

     

    

 

3.         Other
Employment Benefits.

 

(a)         Business Expenses. Upon timely submission of itemized expense statements and other documentation in conformance with
the procedures specified by the Company, Executive shall be entitled to reimbursement for reasonable business and travel expenses
duly incurred by Executive in the performance of Executive’s Duties and Responsibilities under this Agreement during the
Employment Period.

 

(b)         Benefit Plans. During the Employment Period, Executive shall be entitled to participate in the Company’s employee
benefit plans and programs (“Benefit Plans”) as they may exist from time to time, in each case as offered by
the Company to its executive officers generally, subject to the terms and conditions thereof. Nothing in this Agreement shall require
the Company to maintain any Benefit Plan, or shall preclude the Company from terminating or amending any Benefit Plan from time
to time.

 

(c)         Vacation. Executive shall be entitled to vacation time in accordance with the Company’s vacation policy for
senior executives. Executive acknowledges that given his position at the Company, Executive will use Executive’s best efforts
to remain generally available and accessible to the Company’s senior managers in person or through an electronic means of
communication when reasonably possible.

 

4.         Termination of Employment. Notwithstanding anything herein to the contrary,

 

(a)         For Cause. The Company may terminate Executive’s employment for Cause immediately upon written notice for any
of the following reasons: (i) Executive’s (x) commission of, or being indicted for, a felony under U.S. or applicable state
law, or (y) commission of a misdemeanor where imprisonment may be imposed other than for a traffic-related offense, (ii) any act
of material misconduct or gross negligence by Executive in the performance of Executive’s Duties and Responsibilities or
any act of moral turpitude by Executive, (iii) Executive’s commission of any act of theft, fraud or material dishonesty,
(iv) Executive’s willful failure to perform any reasonable duties assigned to him by the Board or Executive’s refusal
or failure to follow the lawful directives of the Board after written notice from the Company of, and 30 calendar days to cure,
such refusal or failure, (v) any material breach by Executive of this Agreement or any other written agreement executed by Executive
with the Company or any of its affiliates that is not cured within ten calendar days following written notice of such breach, and
(vi) Executive’s unlawful appropriation of a material corporate opportunity (“Cause”). Upon termination
of Executive’s employment for Cause, the Company shall be under no further obligation to Executive, except to pay or provide
(A) all accrued but unpaid Base Salary through the date of termination within 30 days following such termination, less all applicable
deductions, and (B) any benefits and payments pursuant to the terms of any Benefit Plan, including, without limitation, any rights
under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (the payments and benefits described in subsections
(A) and (B) herein shall be referred herein as the “Accrued Benefits”).

 

    	 	3	 

     

    

 

(b)         Without Cause; Company Non-Extension; Good Reason. The Company may terminate Executive’s employment at any
time without Cause, immediately upon written notice; the Company may terminate Executive’s employment by electing not to
extend the Employment Period, upon 120 days’ written notice, as provided for in Section 1(a) above (“Company Non-Extension”);
and Executive may terminate Executive’s employment at any time for “Good Reason.” Upon termination of
Executive’s employment by the Company without Cause, a Company Non-Extension or by Executive for Good Reason, in each case
other than a Change in Control Termination (as defined below), Executive shall be entitled to receive, in each case less all applicable
deductions, (i) the Accrued Benefits, plus (ii) contingent on Executive executing and not revoking a release of any and all claims
that the Executive may have against the Company substantially in the form set forth in Exhibit A (the “Separation
Agreement”), (w) an amount equal to two times Executive’s Base Salary on the date of termination, payable over
24 months in substantially equal installments on the Company’s regular pay dates, commencing on the first regular pay date
following the 60th calendar day following Executive’s termination date, plus (x) the Bonus, determined pursuant
to Section 2(b), with respect to the most recently completed fiscal year if such Bonus is unpaid on the date of termination of
employment, payable upon the later of (i) the date Bonuses are paid to executives generally and (ii) the first regular pay date
following the 60th calendar day following Executive’s employment termination date, plus (y) an amount equal to
(A) the average Bonus earned over the two completed fiscal years prior to Executive’s date of termination multiplied by (B)
a fraction, the numerator of which is the number of days between the first day of the fiscal year and the date of such termination
of employment (inclusive) and the denominator of which is 365, payable on the first regular pay date following the 60th
calendar day following Executive’s employment termination date, plus (z) an amount equal to the Company portion of the health
care premiums for Executive (including for his spouse and eligible dependents) for 24 months following Executive’s termination
date, commencing on the first regular pay date following the 60th calendar day following Executive’s termination
date. If the Separation Agreement fails to become effective and irrevocable prior to the 60th calendar day following
Executive’s employment termination date because Executive delays, fails or refuses to execute or revokes the Separation Agreement,
the Company shall have no obligation to make the payments provided by Section 4(b)(ii). A termination of Executive under this Section
4(b) does not include a termination by reason of Executive’s Disability or upon the death of Executive.

 

“Good
Reason” shall mean, without Executive’s written consent, (i) a material diminution in Executive’s then authority,
duties or responsibilities; (ii) a material diminution in Executive’s Base Salary; (iii) relocation of Executive’s
office to a location that is more than 50 miles from the Atlanta, Georgia metropolitan area; or (iv) any material breach of this
Agreement by the Company, provided, that Executive must provide the Company with written notice of the existence of the
event or change constituting Good Reason within 30 calendar days of any such event or change having occurred and allow the Company
60 calendar days from receipt of such notice from Executive to cure the same. If the Company so cures the event or change, Executive
shall not have a basis for terminating his employment for Good Reason with respect to such cured event or change. If such event
or change is not cured within such 60 day period, Executive must resign his employment with the Company within 30 calendar days
of the end of the cure period or Executive will be deemed to have waived his right to terminate his employment for Good
Reason based upon such event or change.

 

    	 	4	 

     

    

 

(c)         Change in Control Termination. Upon termination of Executive’s employment by the Company without Cause
or by Executive for Good Reason, within one year following a Change in Control (as defined below); provided that such Change
in Control constitutes a “change in the ownership of the corporation,” a “change in effective control of the
corporation” or a “change in the ownership of a substantial portion of the assets of the corporation,” within
the meaning of Section 409A (as defined below)) (a “Change in Control Termination”), Executive shall
be entitled to receive, in each case less all applicable deductions, (i) the Accrued Benefits plus (ii) contingent on Executive
executing and not revoking the Separation Agreement, the amounts provided pursuant to Section 4(b)(ii), plus an amount equal to
two times Executive’s target Bonus (at the target Bonus rate for the fiscal year of termination), (A) to the extent permitted
by Section 409A, amounts pursuant to Section 4(c)(ii) shall be paid in a lump sum on the first regular payroll date after the 60th
day after the date of termination and (B) for any remaining amounts, in accordance with Section 4(b). If the Separation Agreement
fails to become effective and irrevocable prior to the 60th calendar day following Executive’s employment termination
date because Executive delays, fails or refuses to execute or revokes the Separation Agreement, the Company shall have no obligation
to make the payments provided by Section 4(c). A termination of Executive under this Section 4(c) does not include a termination
by reason of Executive’s Disability or upon the death of Executive. A “Change in Control” means
any Change in Control as defined on Exhibit B hereto or the consummation of a reorganization, merger or consolidation or
sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”),
in each case, unless, following such Business Combination, all or substantially all of the individuals and entities who were the
beneficial owners, respectively, of the Company Voting Securities (as defined in Holdings’ 2011 Amended and Restated Stock
Incentive Plan) immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively,
the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to
vote generally in the election of directors, as the case may be, of the company resulting from such Business Combination (including,
without limitation, a company which as a result of such transaction owns the Company or all or substantially all of the Company’s
assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately
prior to such Business Combination of the Company Voting Securities, as the case may be.

 

(d)         Resignation. Executive may terminate his employment with the Company upon 90 calendar days prior written notice to
the Company. Failure to provide such notice shall constitute a breach of this Agreement for which Executive shall be liable to
the Company for any damages the Company sustains. In addition, upon termination by Executive of his employment with the Company
under this Section 4(d), (i) the Company shall be under no further obligation to Executive, except to pay the Accrued Benefits;
(ii) all options to purchase shares of Class B non-voting common stock, par value $0.001 per share, of the Company, granted to
Executive on December 13, 2012 pursuant to the Company’s 2011 Stock Option Plan (the “Options”) that are
held by such Executive that are vested and exercisable on the date of Executive’s resignation may be exercised by Executive
at any time within a period beginning on the date of such resignation and ending on the earlier of (A) 30 days after the date of
such resignation, and (B) the expiration date of the stated term of such Options, after which any unexercised Options shall terminate.

 

    	 	5	 

     

    

 

(e)         Disability of Executive; Death. The Company may terminate this Agreement if Executive experiences a Disability
(as defined below) and this Agreement shall terminate upon the death of Executive. “Disability” means Executive
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 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 12 months, receiving income replacement benefits for a period of three months
under the Company’s long-term disability plan. Executive agrees to submit to such medical examinations as may be reasonably
requested by the Company, from time to time, to determine whether a Disability exists. Any determination as to the existence of
a Disability shall be made as follows: first, the Company shall be entitled to engage a physician to determine the existence of
a Disability; then, if Executive disagrees with such determination, Executive shall give written notice of Executive’s disagreement
within ten days after Executive is notified in writing of such determination, and Executive shall be entitled to engage a physician
to determine the existence of a Disability; and if Executive’s physician disagrees with the determination made by the Company’s
physician, then these two physicians shall mutually agree upon a third physician who shall make a determination whether a Disability
exists, and such determination shall be final and binding upon the Company and Executive. The Company and Executive shall share
equally in the costs of such third physician. Upon such termination of employment by reason of Disability or death, Executive,
or Executive’s personal representatives under Executive’s last will and testament, and if none exists, his heirs at
law, as applicable, shall be entitled to receive (i) the Accrued Benefits, (ii) continuation of Base Salary for twelve months,
commencing on the first regular pay date following the 60th calendar day following Executive’s termination date
(iii) the Bonus with respect to the most recently completed fiscal year if such Bonus is unpaid on the date of termination of employment,
payable pursuant to Section 2(b), and (iv) a pro-rated portion of the Bonus that actually would have been earned by Executive had
Executive remained employed through the Bonus payment date based on the actual achievement of the Company against the performance
targets set by the Board for the applicable fiscal year, such pro-rated portion to be equal to a fraction, the numerator of which
is the number of days between the first day of the fiscal year and the date of such termination of employment (inclusive) and the
denominator of which is 365, payable pursuant to Section 2(b).

 

(f)         Cooperation. Following termination of Executive’s employment for any reason, Executive shall (i) reasonably
cooperate with the Company, as reasonably requested by the Company, to effect a transition of Executive’s responsibilities
and to ensure that the Company is aware of all matters being handled by Executive and (ii) during the 24-month period following
Executive’s termination of employment, cooperate and provide assistance to the Company at its reasonable request in connection
with any action, suit or proceeding brought by or against the Company or any of its affiliates (or in which any of them is or may
be a party) or that relates in any way to Executive’s acts or omissions while employed by the Company; provided that
Executive shall not be required to cooperate (x) against his own legal interests or (y) to the extent it materially interferes
with his employment or business activities after reasonable attempts by the Executive to mitigate such interference. The Company
agrees to promptly reimburse Executive for reasonable expenses incurred by him in connection with assisting the Company in the
manner described in the immediately preceding sentence (including reasonable legal fees incurred by Executive approved in writing,
in advance, by the Company, with such approval not to be unreasonably withheld). Reimbursement shall be made in accordance with
the applicable policy of the Company then in effect. Upon termination for any reason, Executive shall be deemed to have resigned
from all offices and directorships then held with the Company or any of its subsidiaries. Executive’s obligations under this
Section 4(f) shall survive the termination of Executive’s employment and the expiration or termination of the Agreement.

 

    	 	6	 

     

    

 

(g)         Company Property. All assets, property and equipment and all tangible and intangible information relating to the
Company, its affiliates and their respective employees, customers or vendors furnished to, obtained by or prepared by Executive
or any other person during the course of or incident to Executive’s employment by the Company or any of its subsidiaries
are and shall remain the sole property of Company (“Company Property”). Company Property includes, but is not
limited to, computer equipment, books, manuals, records, reports, notes, correspondence, contracts, customer lists, business cards,
advertising, sales, financial, personnel, operations and manufacturing materials and information, data processing reports, computer
programs, software, customer information and records, business records, price lists or information and samples, and in each case
shall include all copies thereof in any medium, including paper, electronic and magnetic media and all other forms of information
storage. Following termination of Executive’s employment for any reason, Executive must return all Company Property to the
Company without demand or request by the Company therefor. Executive shall further permanently delete any Company information from
any computers or other electronic storage devices owned by Executive. Upon request of the Company, Executive shall certify in writing
that Executive has complied with the requirements of this Section 4(g). Executive’s obligations under this Section 4(g) shall
survive termination of Executive’s employment and the expiration or termination of the Agreement until Executive has returned
all Company Property to the Company. Notwithstanding the foregoing, Executive shall be entitled to retain a copy of his contacts,
calendars, personal correspondence, diaries and any compensation-related documents or materials reasonably needed by Executive
for tax purposes.

 

5.         Restrictive Covenants.

 

(a)         Definitions. When capitalized and used herein, the following terms shall have the following meanings set forth below:

 

(i)         “Business” means the business (whether operated in physical locations or online over the internet) of
selling hard surface flooring materials.

 

(ii)        “Competitive Area” means the 30 mile radius around any location where the Company (i) has a then current
location (including the Company’s current locations listed on Exhibit C attached hereto) and (ii) has a bona fide
intention to open a new location.

 

(iii)       “Competitive Business Activity” shall mean providing services to a Competitor that are the same or similar
to Executive’s Duties and Responsibilities under this Agreement, whether as an employee, independent contractor or consultant.

 

(iv)       “Competitor” means any Person (other than the Company and its affiliates) engaged in the Business for
which the Business constitutes at least 25% of gross revenue. To the extent that a Competitor is engaged in any business activities
other than the Business, the term “Competitor” does not restrict Executive’s involvement with such other business
activities.

 

    	 	7	 

     

    

 

(v)        “Confidential Information” means information developed by or on behalf of any of the Company or its affiliates
that is not generally known by persons not employed by the Company or its affiliates and that could not easily be determined or
learned by someone outside the Company, including information concerning (A) Customers, Suppliers, internal corporate policies
and strategies, corporate opportunities, financial and sales information, personnel information, forecasts, business and marketing
plans, (B) the affairs or assets of the Company and its affiliates, accounts, or clients for which the Company or its any of its
affiliates performs, directly or indirectly, services, or (C) the nature and material terms of business opportunities, investors,
business and proposals available to the Company or its affiliates. Confidential Information (x) includes both written information
and information not reduced to writing, whether or not explicitly designated as confidential, (y) is of a special and unique nature
and value to the Company, its affiliates and their respective businesses and (z) provides the Company or its affiliates with a
competitive advantage. Confidential Information does not include information that is publicly available or is readily ascertainable
from publicly available information.

 

(vi)       “Customer” means any Person who is a customer or client of the Company or its affiliates that is a professional
contractor and with whom Executive had material business-related contact (whether in person, by telephone or by paper or electronic
correspondence), on behalf of the Company or its affiliates.

 

(vii)      “Person” means any individual or entity.

 

(viii)     “affiliates” means a Person’s subsidiaries, affiliates, successors, transferees or assigns that
are engaged in the Business.

 

(ix)       “Restricted Period” means the time period beginning on the Effective Date of this Agreement and ending
two years from the termination of Executive’s employment with the Company for any reason, whether by Executive or Company.

 

(x)        “Supplier” means any Person who supplies products or services to the Company in support of the Company’s
Business and with whom Executive had material business-related contact (whether in person, by telephone or by paper or electronic
correspondence), on behalf of the Company or its affiliates.

 

(b)         Confidentiality. Executive shall not, while employed under this Agreement and after the Employment Period terminates,
directly or indirectly, use, make available, sell, disclose or otherwise communicate to any person any Confidential Information,
other than in the course and scope of Executive’s Duties and Responsibilities under this Agreement; provided that
after following the procedures below, Executive may disclose Confidential Information to the extent required by subpoena or other
request having the force of law. In the event that Executive receives a subpoena or other request having force of law, or reasonably
believes that disclosure of Confidential Information is required by law, Executive shall promptly provide the Company, to the extent
reasonably possible, with written notice thereof, and shall reasonably cooperate, at no expense to Executive, with the Company
if the Company elects to seek a judicial protective order or other appropriate judicial protection of such Confidential Information.

 

    	 	8	 

     

    

 

In accordance with 18 U.S.C. Section 1833,
notwithstanding anything to the contrary in this Agreement: (i) Executive shall not be in breach of this Agreement and shall not
be held criminally or civilly liable under any federal or state trade secret law (A) for the disclosure of a trade secret that
is made in confidence to a federal, state, or local government official or to an attorney solely for the purpose of reporting or
investigating a suspected violation of law, or (B) for the disclosure of a trade secret that is made in a complaint or other document
filed in a lawsuit or other proceeding, if such filing is made under seal; and (ii) if Executive files a lawsuit for retaliation
by the Company for reporting a suspected violation of law, Executive may disclose the trade secret to Executive’s attorney,
and may use the trade secret information in the court proceeding, if Executive files any document containing the trade secret under
seal, and does not disclose the trade secret, except pursuant to court order.

 

(c)         Whistleblowers. Nothing in this Agreement shall be construed to prohibit Executive, or any officer or director of
the Company, from reporting possible violations of law or regulation to any governmental agency or regulatory body or making other
disclosures that are protected under any law or regulation, or from filing a charge with or participating in any investigation
or proceeding conducted by any governmental agency or regulatory body. Executive and any officer or director of the Company do
not need the prior authorization of the Company to make any such reports or disclosures and are not required to notify the Company
that they have made such reports or disclosures.

 

(d)         Noncompete. During the Restricted Period, Executive will not, directly or indirectly, independently or in cooperation
with any other Person, engage in a Competitive Business Activity in a Competitive Area.

 

(e)         Executive agrees that this covenant is reasonable with respect to its duration, geographical area and scope, in light
of the nature and geographic scope of the Business subject to this restriction. Executive represents, warrants, acknowledges and
agrees that he has been fully advised by counsel in connection with the negotiation, preparation, execution and delivery of this
Agreement; and no reasonable Person in the position of the Company would employ Executive under the terms and conditions of this
Agreement without the benefit of the restrictive covenants applicable to Executive under Sections 5(b) through 5(g) of this Agreement,
and without the other agreements by Executive contained herein (collectively, the “Restrictive Covenants and Agreements”).
Accordingly, Executive agrees to be bound by the Restrictive Covenants and Agreements contained in this Agreement to the maximum
extent permitted by law, it being the intent and spirit of the parties that the Restrictive Covenants and Agreements contained
herein shall be valid and enforceable in all respects.

 

(f)         Non-Solicitation of Customers and Suppliers. During the Restricted Period, Executive shall not (whether on
Executive’s own behalf or on behalf of another Person), directly or indirectly: (a) solicit Customers to purchase products
on behalf of a Competitor, or (b) solicit Suppliers to provide products or services to support a Competitor.

 

(g)         Non-Solicitation of Employees. During the Restricted Period, Executive shall not (whether on Executive’s own
behalf or on behalf of some other Person), directly or indirectly solicit or attempt to hire any individual who is at that time
an employee, independent contractor or other agent of the Company or any of its affiliates or (b) induce or encourage any employee,
independent contractor or other agent of the Company or any of its affiliates to terminate or materially reduce, as applicable,
his or her employment or other business relationship or affiliation with the Company or any of its affiliates; provided,
that the parties acknowledge and agree that Executive’s placement of a general advertisement that is not directed at any
specific Person or group of Persons, but to the public at large, in a public newspaper, or on the Internet or other public medium,
shall not constitute a violation of this Section 5(g).

 

    	 	9	 

     

    

 

(h)         Non-Disparagement. Except as occurs performing Executive’s Duties and Responsibilities during the Employment
Period (such as chastising or criticizing store management, suppliers and others doing business with the Company for performing
in a manner Executive in good faith believes is not in the best interests of the Company and the Business), while employed by the
Company and during the Restricted Period, Executive will not directly or indirectly, make or publish any disparaging or derogatory
statements or otherwise disparage the business reputation of the Company or any of its affiliates or take any actions that are
harmful, in any material respect, to the Company’s (or any of its affiliates’) goodwill with its Customers, Suppliers,
employees, the media or the public. During the Restricted Period, the Company shall instruct its officers and directors not to,
directly or indirectly, make or publish any disparaging or derogatory statements or otherwise take any actions that disparage Executive’s
business reputation or take any actions that are harmful, in any material respect, to Executive’s goodwill with the Company’s
Customers, Suppliers, employees, the media or the public, except as occurs performing their duties during the Employment Period
(such as chastising or criticizing Executive for performing in a manner such officers or directors in good faith believe are not
in the best interests of the Company and the Business). Provided, however, the foregoing shall not prohibit the Executive or any
director or officer of the Company from making truthful statements when required, or based upon advice of legal counsel, Executive,
or any officer or director of the Company, in good faith believes is required, by law, rule, regulation or judicial or governmental
administrative subpoena, order or process in connection with any legal proceeding, to a governmental agency or body or its representative,
or in connection with any governmental administrative proceeding.

 

(i)         Reformation. If any court determines that any of the Restrictive Covenants and Agreements, or any part thereof set
forth in this Section 5, is or are unenforceable due to over breadth or any other reason, such court shall have the power to modify
such provision to the extent necessary to make it reasonable and enforceable and such modified provision shall then be enforceable
to the maximum extent permitted by applicable law. Executive acknowledges and agrees that the Restrictive Covenants and Agreements
of Executive in this Agreement are reasonable and valid in geographic and temporal scope and in all other respects. If, however,
any court subsequently determines that any of the Restrictive Covenants and Agreements, or any part thereof, is or are invalid
or unenforceable and not capable of modification, the remainder of the Restrictive Covenants and Agreements shall not thereby be
affected and shall be given full effect without regard to the invalid portions.

 

(j)         Survival. Executive’s obligations under this Section 5 shall survive the termination of Executive’s employment
and the expiration or termination of this Agreement in accordance with the terms and conditions herein.

 

    	 	10	 

     

    

 

6.         Inventions.

 

(a)         Executive acknowledges and agrees that all ideas, methods, inventions, discoveries, improvements, work products or developments
(collectively, “Inventions”), whether patentable or unpatentable, made or conceived by Executive, solely or
jointly with others, that are related to Executive’s work as an employee or other service provider to the Company, shall
belong exclusively to the Company (or its designee), whether or not patent applications are filed thereon. For the avoidance of
doubt, Executive understands that the provisions of this Section 6 requiring assignment of Inventions to the Company do not apply
to any Invention that Executive developed entirely on his own time without using the Company’s equipment, supplies, facilities,
or trade secret information except for those Inventions that either (i) relate at the time of conception or reduction to practice
of the Invention to the Company’s Business, or actual or demonstrably anticipated research or development of the Company;
or (ii) result from any work performed by an employee for the Company (other than Executive). Executive will assign to the Company
the Inventions and all patents that may issue thereon in any and all countries, whether during or subsequent to the Employment
Period, together with the right to file, in Executive’s name or in the name of the Company (or its designee), applications
for patents and equivalent rights (the “Applications”). Executive will, at any time during and for a period
of three years subsequent to the Employment Period, make such applications, sign such papers, take all rightful oaths, and perform
all acts as may be reasonably requested from time to time by the Company with respect to the Inventions, provided that Executive
shall not be obligated to incur any expense in connection therewith. Executive will also execute assignments to the Company (or
its designee) of the Applications, and give the Company and its attorneys all reasonable assistance (including the giving of testimony),
at no expense to Executive, to obtain the Inventions for its benefit, all without additional compensation to Executive from the
Company.

 

(b)         In addition, the Inventions will be deemed Work for Hire, as such term is defined under the copyright laws of the United
States, on behalf of the Company and Executive agrees that the Company will be the sole owner of the Inventions, and all underlying
rights therein, in all media now known or hereinafter devised, throughout the universe and in perpetuity without any further obligations
to Executive. If the Inventions, or any portion thereof, are deemed not to be Work for Hire, Executive hereby irrevocably conveys,
transfers and assigns to the Company, all rights, in all media now known or hereinafter devised, throughout the universe and in
perpetuity, in and to the Inventions, including without limitation, all of Executive’s right, title and interest in the copyrights
(and all renewals, revivals and extensions thereof) to the Inventions, including without limitation, all rights of any kind or
any nature now or hereafter recognized, including without limitation, the unrestricted right to make modifications, adaptations
and revisions to the Inventions, to exploit and allow others to exploit the Inventions and all rights to sue at law or in equity
for any infringement, or other unauthorized use or conduct in derogation of the Inventions, known or unknown, including without
limitation the right to receive all proceeds and damages therefrom. In addition, Executive hereby waives any so-called “moral
rights” with respect to the Inventions. Executive hereby waives any and all currently existing and future monetary rights
in and to the Inventions and all patents that may issue thereon, including, without limitation, any rights that would otherwise
accrue to Executive’s benefit by virtue of Executive being an employee of, or other service provider to the Company. Executive’s
obligations under this Section 6 shall survive the termination of employment and the expiration or termination of this Agreement
in accordance with the terms and conditions herein.

 

    	 	11	 

     

    

 

7.         No Inconsistent Obligations. Executive hereby represents, warrants and agrees that: (a) there are no restrictions
or agreements, oral or written, to which Executive is a party or by which Executive is bound that prevent or make unlawful Executive’s
execution and delivery of, or performance under, this Agreement; (b) to the best actual knowledge and belief of Executive, none
of the information supplied by Executive to Company in connection with Executive’s employment by Company misstated a material
fact or omitted material facts necessary to make the information supplied by Executive not materially misleading; (c) Executive
does not have any business or employment relationship that creates a conflict between the interests of Executive and the Company
or any of its subsidiaries; and (d) Executive will not disclose to the Company, or use, or induce the Company to use, any proprietary
information or trade secrets of others.

 

8.         Indemnification of Executive. While employed by the Company and for so long thereafter as liability exists with regard
to the Executive’s activities while employed by the Company, the Company shall indemnify and advance expenses to, and hold
harmless, to the fullest extent permitted by applicable law as it presently exists or may hereafter be amended, Executive to the
extent Executive is made or is threatened to be made a party or is otherwise involved in any action, suit or proceeding, whether
civil, criminal, administrative or investigative (a “proceeding”), by reason of the fact that he, or a person
for whom he is the legal representative, is or was an officer of the Company or, while an officer of the Company, is or was serving
at the request of the Company as a director, officer, employee or agent of another corporation or of a partnership, joint venture,
trust, enterprise or nonprofit entity, including service with respect to employee benefit plans, against all liability and loss
suffered and expenses (including attorneys’ fees) reasonably incurred by such indemnitee. Notwithstanding the preceding sentence,
the Company shall be required to indemnify, or advance expenses to, Executive in connection with a proceeding (or part thereof)
commenced by Executive only if the commencement of such proceeding (or part thereof) by Executive was authorized by the Board;
provided, that the Company shall be required to advance expenses to Executive in connection with a proceeding (or part thereof)
commenced by Executive to enforce indemnification rights. The rights to indemnification and to the advance of expenses conferred
in this Section 8 shall not be exclusive of any other right that Executive may have or hereafter acquire under Holdings’
Certificate of Incorporation or Bylaws, the Shareholders Agreement, dated November 24, 2010, among Holdings and the investors party
thereto, as amended from time to time, any statute, agreement, vote of stockholders or disinterested directors or otherwise.

 

9.         Section 409A. Notwithstanding anything herein to the contrary,

 

(a)         Although the Company does not guarantee to Executive any particular tax treatment relating to the payments and benefits
under this Agreement, it is intended that such payments and benefits be exempt from, or comply with, Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”) and the regulations and guidance promulgated thereunder (collectively,
 “Section 409A”), and all provisions of this Agreement shall be administered, interpreted and construed in a
manner consistent with the requirements for avoiding taxes or penalties under Section 409A. Notwithstanding any other provision
hereof, in no event shall the Company be liable for, or be required to indemnify Executive for, any liability of Executive for
taxes or penalties under Section 409A.

 

    	 	12	 

     

    

 

(b)         A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing
for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation
from service” within the meaning of Section 409A and, for purposes of any such provision, references to a “termination,”
 “termination of employment” or like terms shall mean “separation from service.”

 

(c)         With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as
permitted by Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for
another benefit; (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year
shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, provided,
that this clause (ii) shall not be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b)
of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect; and (iii) such
payments shall be made on or before the last day of the Executive’s taxable year following the taxable year in which the
expense was incurred.

 

(d)         Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment
shall be made within ten calendar days following the date of termination”), the actual date of payment within the specified
period shall be within the sole discretion of the Company. If under this Agreement, an amount is to be paid in two or more installments,
for purposes of Section 409A, each installment shall be treated as a separate payment.

 

(e)         Notwithstanding any other provision hereof, if Executive is, as of the date of termination, a “specified employee”
for purposes of Treas. Reg. § 1.409A-1(i), then any amount payable to Executive pursuant to Section 4 hereof that is neither
a short-term deferral within the meaning of Treas. Reg. § 1.409A-1(b)(4) nor within the involuntary separation pay limit under
Treas. Reg. § 1.409A-1(b)(9)(iii)(A) will not be paid before the date that is six months after the date of termination, or
if earlier, the date of Executive’s death. Any payments to which Executive would otherwise be entitled during such non-payment
period will be accumulated and paid or otherwise provided to Executive on the first day of the seventh month following such date
of termination, or if earlier, within 30 calendar days of Executive’s death to his surviving spouse (or to his estate if
Executive’s spouse does not survive him).

 

    	 	13	 

     

    

 

10.         Miscellaneous.

 

(a)         280G. Notwithstanding anything herein to the contrary, in the event that an independent, nationally recognized, accounting
firm, which shall be designated by the Company (the “Accounting Firm”) shall determine that any payment or distribution
of any type to or for Executive’s benefit made by the Company, by any of its affiliates, by any person who acquires ownership
or effective control or ownership of a substantial portion of the Company’s assets (within the meaning of Section 280G of
the Code and the regulations thereunder) or by any affiliate of such person, whether paid or payable or distributed or distributable
pursuant to the terms of this Agreement or otherwise (collectively, the “Total Payments”), would be subject
to the excise tax imposed by Section 4999 of the Code or any interest or penalties with respect to such excise tax (such excise
tax, together with any such interest or penalties, are collectively referred to as the “Excise Tax”), then the
Accounting Firm shall determine whether such payments or distributions or benefits shall be reduced to such lesser amount as would
result in no portion of such payments or distributions or benefits being subject to the Excise Tax. Such reduction shall occur
if and only to the extent that it would result in Executive retaining a larger amount, on an after-tax basis (taking into account
federal, state and local income taxes, employment, social security and Medicare taxes, the imposition of the Excise Tax and all
other taxes, determined by applying the highest marginal rate under Section 1 of the Code and under state and local laws which
applied (or is likely to apply) to Executive’s taxable income for the tax year in which the transaction which causes the
application of Section 280G of the Code occurs, or such other rate(s) as the Accounting Firm determines to be likely to apply to
Executive in the relevant tax year(s) in which any of the Total Payments is expected to be made) than if Executive received all
of the Total Payments. If the Accounting Firm determines that Executive would not retain a larger amount on an after-tax basis
if the Total Payments were so reduced, then Executive shall retain all of the Total Payments. If the Total Payments are to be reduced,
the reduction shall occur in the following order: (1) reduction of cash payments for which the full amount is treated as a “parachute
payment” (as defined under Section 280G of the Code and the regulations thereunder); (2) cancellation of accelerated vesting
(or, if necessary, payment) of cash awards for which the full amount is not treated as a parachute payment; (3) reduction of any
continued employee benefits; and (4) cancellation or reduction of any accelerated vesting of equity awards. In selecting the equity
awards (if any) for which vesting will be cancelled or reduced under clause (4) of the preceding sentence, awards shall be selected
in a manner that maximizes the after-tax aggregate amount of reduced Total Payments provided to Executive, provided that
if (and only if) necessary in order to avoid the imposition of an additional tax under Section 409A, awards instead shall be selected
in the reverse order of the date of grant. If two or more equity awards are granted on the same date, each award will be reduced
on a pro-rata basis. Executive and the Company shall furnish such documentation and documents as may be necessary for the Accounting
Firm to perform the requisite Section 280G of the Code computations and analysis, and the Accounting Firm shall provide a written
report of its determinations, hereunder, including detailed supporting calculations. If the Accounting Firm determines that aggregate
Total Payments should be reduced as described above, it shall promptly notify Executive and the Company to that effect. In the
absence of manifest error, all determinations made by the Accounting Firm under this Section 10(a) shall be binding on Executive
and the Company and shall be made as soon as reasonably practicable following the later of Executive’s date of termination
of employment or the date of the transaction which causes the application of Section 280G of the Code. The Company shall bear all
costs, fees and expenses of the Accounting Firm.

 

To the extent requested by Executive, the
Company shall cooperate with Executive in good faith in valuing, and the Accounting Firm shall take into account the value of,
services to be provided by Executive (including Executive agreeing to refrain from performing services pursuant to a covenant not
to compete) before, on or after the date of the transaction which causes the application of Section 280G of the Code such that
payments in respect of such services may be considered to be “reasonable compensation” within the meaning of Q&A-9
and Q&A-40 to Q&A-44 of the final regulations under Section 280G of the Code and/or exempt from the definition of the term
 “parachute payment” within the meaning of Q&A-2(a) of such final regulations in accordance with Q&A-5(a) of
such final regulations.

 

    	 	14	 

     

    

 

(b)         Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State
of Delaware without regard to conflict of law principles.

 

(c)         Assignment and Transfer. Executive’s rights and obligations under this Agreement shall not be transferable
by assignment or otherwise, and any purported assignment, transfer or delegation thereof shall be void. This Agreement shall inure
to the benefit of, and be binding upon and enforceable by, any purchaser of substantially all of the Company’s assets, any
corporate successor to the Company or any assignee thereof.

 

(d)         Entire Agreement. This Agreement, any outstanding equity agreements between Executive and Holdings relating
to an award under Holdings’ 2011 Amended & Restated Stock Incentive Plan or 2017 Stock Incentive Plan, and the Company’s
policies and procedures, contain the entire agreement and understanding between the parties hereto with respect to the subject
matter hereof, and supersede any prior or contemporaneous written or oral agreements, representations and warranties between them
respecting the subject matter hereof, including the Prior Agreement.

 

(e)         Amendment and Waiver; Rights Cumulative. This Agreement may be amended, waived or discharged only by a writing signed
by Executive and by a duly authorized representative of Holdings and the Operating Company (other than Executive). No failure or
neglect of either party hereto in any instance to exercise any right, power or privilege hereunder or under law shall constitute
a waiver of any other right, power or privilege or of the same right, power or privilege in any other instance. All waivers by
either party hereto must be contained in a written instrument signed by the party to be charged and, in the case of Holdings and
the Operating Company, by a duly authorized representative of Holdings and the Operating Company (other than Executive). The rights
and remedies provided by this Agreement are cumulative, and the exercise of any right or remedy by either party hereto (or by its
successor), whether pursuant to this Agreement, to any other agreement, or to law, shall not preclude or waive its right to exercise
any or all other rights and remedies.

 

(f)          Severability. If any term, provision, covenant or condition of this Agreement, or the application thereof to any
person, place or circumstance, shall be held to be invalid, unenforceable or void, the remainder of this Agreement and such term,
provision, covenant or condition as applied to other persons, places and circumstances shall remain in full force and effect.

 

(g)         Remedy for Breach. In the event of breach or threatened breach of any Restrictive Covenants and Agreements of Executive
hereunder, including any breach of Sections 4(f), 4(g), 5 or 6, the damage or imminent damage to the value and the goodwill of
the Company and its subsidiaries’ business would be inestimable and irreparable, and therefore any remedy at law or in damages
shall be inadequate. Accordingly, (i) the provisions of Section 10(i) shall not preclude the Company from obtaining provisional
relief, including injunctive relief, from a court of appropriate jurisdiction to protect its rights under this Agreement, and (ii)
the Company shall be entitled to seek an injunction to prevent breaches of this Agreement or to enforce specifically the performance
of the terms and provisions thereof in addition to any other remedy (including damages) to which they are entitled at law or in
equity. Each party agrees and consents to personal jurisdiction, service of process and venue in any federal or state court within
the State of Delaware, County of New Castle, in connection with any action brought in connection with a request for any such provisional
or injunctive relief, and in connection with any action to enforce this arbitration clause or an award in arbitration. Each party
in any action instituted pursuant to this Agreement shall be responsible for its own attorneys’ fees and other expenses incurred
in such action. In the event Executive violates (i) the Restrictive Covenants and Agreements (pursuant to the terms thereof) or
(ii) Executive’s obligations in Sections 4(f) or 4(g) or Section 6 above, and does not cure such violations within 30 days
of written notice from the Company to Executive that such violation has occurred, then any obligations to pay amounts to Executive
pursuant to Section 4(b)(ii) of this Agreement shall immediately cease. This Section 10(g) shall survive Executive’s termination
of employment and the expiration or termination of this Agreement.

 

    	 	15	 

     

    

 

(h)         Notices. All notices, demands or requests made pursuant to, under or by virtue of this Agreement must be in writing
and sent to the party to which the notice, demand or request is being made by (i) by nationally recognized overnight courier delivery
for next business day delivery, (ii) by hand delivery, or (iii) by facsimile or electronic mail transmission followed by overnight
delivery the next business day to the addresses listed below; or to such other street address to which hand deliveries may be made
as is specified by a party by not less than five days prior notice to the other party given in accordance with the provisions of
this Section. Any notice given in accordance with the provisions of this Section shall be deemed given on the date of initial delivery
or initial attempted delivery in the event of rejection or other refusal to accept or inability to deliver because of changed address
of which proper notice was not given or which is not a street address shall be deemed to be receipt of the notice, request, demand
or other communication, provided that such delivery or attempted delivery at the addresses listed below must be on a business
day between 8:30a.m. and 5:30p.m. in the time zone in which such address is located. Legal counsel for the respective parties may
send to the other party any notices, requests, demands or other communications required or permitted to be given hereunder by such
party.

 

If to Executive:

 

To the address on file with the Company.

 

If to the Company:

 

Floor and Decor Outlets of America, Inc.

2500 Windy Ridge Parkway, SE

Atlanta, GA 30339

Telephone: (404) 471-1634

Facsimile: (404) 393-3540

Attention: General Counsel

 

    	 	16	 

     

    

 

with copies to:

 

Floor & Decor Holdings, Inc.

2500 Windy Ridge Parkway, SE

Atlanta, Georgia 30339

Telephone: (404) 471-1634

Facsimile: (404) 393-3540

Attention: General Counsel

 

and

 

Proskauer Rose LLP

2029 Century Park East, Suite 2400

Los Angeles, CA 90067

Telephone: (310) 284-4519

Facsimile: (310) 557-2193

Attention: Colleen M. Hart, Esq.

 

(i)         Arbitration. Subject to Section 10(g), any dispute, claim, controversy or cause of action, in law (but not in equity),
directly or indirectly relating to or arising out of or related to this Agreement, the termination or validity hereof, including
the determination of the scope or applicability of this agreement to arbitrate, or the employment relationship, shall, to the fullest
extent permitted by law, be exclusively determined by final, binding and confidential arbitration in Wilmington, Delaware conducted
by JAMS, Inc. (“JAMS”), or its successor, pursuant to the JAMS Comprehensive Arbitration Rules and Procedures
in effect as of the Effective Date. If Executive files a demand for arbitration hereunder, Executive shall not be required to pay
the cost of the filing fees in excess of the amount Executive would be required to pay to commence a comparable action in the applicable
state or federal courts of Delaware and the Company shall be responsible for the payment of any excess. There shall be limited
discovery prior to the arbitration hearing as follows: (a) exchange of witness lists and copies of documentary evidence and documents
relating to or arising out of the issues to be arbitrated, (b) depositions of all party witnesses and (c) such other depositions
as may be allowed by the arbitrators upon a showing of good cause. Depositions shall be conducted in accordance with Delaware law,
the arbitrators shall be required to provide in writing to the parties the basis for the award or order of such arbitrator, and
a court reporter shall record all hearings, with such record constituting the official transcript of such proceedings. The arbitrator
shall, in their award, allocate all of the costs of the arbitration; provided that each party shall be responsible for its attorneys’
fees in connection with the arbitration. The award in the arbitration shall be final and binding. The arbitration shall be governed
by the Federal Arbitration Act, 9 U.S.C. §§1— 16, and judgment upon the award rendered by the arbitrator may be
entered by any court having jurisdiction thereof. The arbitrator will have the same, but no greater, remedial authority than
would a court of law (except that the arbitrator shall not have the power or authority to award punitive damages, consequential
damages, lost profits or speculative damages to either party). This agreement to resolve any disputes by binding arbitration extends
to claims by or against the Company and claims by or against any of its affiliates, and applies to claims directly or indirectly
arising under or out of (i) federal, state and local laws, including claims of alleged discrimination on any basis, or (ii) the
common law. In the event of a conflict between this provision and any provision in the applicable rules of JAMS, the provisions
of this Agreement will prevail. The parties shall keep confidential the existence of the claim, controversy or disputes from third
parties (other than the arbitrator), and the determination thereof, unless otherwise required by law or necessary for the business
of the Company or the other parties to the arbitration, provided that notwithstanding the foregoing, Executive shall be
entitled to disclose the existence of, and information and documentation regarding, the claim, controversy or disputes to Executive’s
accountants, lawyers and financial and other consultants on a “need to know” basis who are assisting or representing
such Executive in connection with the arbitration proceeding. If for any reason this arbitration clause becomes not applicable,
then each party, to the fullest extent permitted by applicable law, hereby irrevocably waives all right to trial by jury as to
any issue relating hereto in any action, proceeding, or counterclaim arising out of or relating to this Agreement or any other
matter involving the parties hereto. Each of the parties hereto agree and consent to personal jurisdiction, service of process
and venue in any federal or state court within the City of Wilmington in the State of Delaware in connection with any action brought
to enforce an award in arbitration. This Section 10(i) shall survive Executive’s termination of employment and the expiration
or termination of this Agreement.

 

    	 	17	 

     

    

 

By initialing below, the parties hereby agree to the provisions
set forth in this Section 10(i):

 

	EXECUTIVE:	/s/ Thomas V. Taylor	 	OPERATING COMPANY:	/s/
    David Christopherson
	 	 	 	 
	HOLDINGS:  	/s/
    David Christopherson	 	 

 

(j)         Further Assurances. Executive shall, upon the Company’s reasonable request, execute such further documents
and take such other actions as may be permitted or reasonably required by law to implement the purposes, objectives, terms, and
provisions of this Agreement. The Company shall, upon the Executive’s reasonable request, execute such further documents
and take such other actions as may be permitted or reasonably required by law to implement the purposes, objectives, terms, and
provisions of this Agreement.

 

(k)         Interpretation. The headings and captions of this Agreement are provided for convenience only and are intended to
have no effect in construing or interpreting this Agreement. The language in all parts of this Agreement shall be in all cases
construed according to its fair meaning and not strictly for or against the Company or Executive. As used herein: (i) reference
to any gender includes each other gender; (ii) reference to any agreement, document or instrument means such agreement, document
or instrument as amended or modified and in effect from time to time in accordance with the terms thereof; (iii) reference to any
law, rule or regulation means such law, rule or regulation as amended, modified, codified, replaced or reenacted, in whole or in
part, and in effect from time to time, including rules and regulations promulgated thereunder, and reference to any section or
other provision of any law, rule or regulation means that provision of such law, rule or regulation from time to time in effect
and constituting the substantive amendment, modification, codification, replacement or reenactment of such section or other provision;
(iv) “hereunder,” “hereof,” “hereto,” and words of similar import shall be deemed references
to this Agreement as a whole and not to any particular article, section or other provision hereof; (v) numbered or lettered articles,
sections and subsections herein contained refer to articles, sections and subsections of this Agreement; (vi) “including”
(and with correlative meaning “include”) means including without limiting the generality of any description preceding
such term; (vii) “or” is used in the inclusive sense of “and/or”; (viii) references to documents, instruments
or agreements shall be deemed to refer as well to all addenda, exhibits, schedules or amendments thereto; and (ix) reference to
dollars or $ shall be deemed to refer to U.S. dollars.

 

    	 	18	 

     

    

 

(l)         Acknowledgement. Executive understands the terms and conditions set forth in this Agreement and acknowledges
having had adequate time to consider whether to agree to the terms and conditions and to consult a lawyer or other advisor of Executive’s
choice.

 

(m)       Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be considered to have
the force and effect of an original.

 

(n)        Each Party the Drafter. Executive understands the terms and conditions set forth in this Agreement and acknowledges
having had adequate time to consider whether to agree to the terms and conditions and to consult a lawyer or other advisor of Executive’s
choice. This Agreement and the provisions contained herein shall not be construed or interpreted for or against any party to this
Agreement because that party drafted or caused that party’s legal representative to draft any of its provisions.

 

(o)        Time of Essence. Time is and shall be of the essence in connection with this Agreement and the terms and conditions
contained herein.

 

(p)        Survival. To the extent not otherwise expressly provided in this Agreement, all rights and obligations of any party
to this Agreement not fully satisfied or performed, as applicable, on the date Executive’s employment is terminated, shall
survive the termination of Executive’s employment and the expiration or termination of the Agreement, including, without
limitation, Sections 4, 5, 6, 8, 9 and 10 of the Agreement.

 

[Remainder of Page Intentionally Left
Blank / Signatures on Next Page]

 

    	 	19	 

     

    

 

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

 

	 	FLOOR AND DECOR OUTLETS OF AMERICA, INC.
	 	 
	 	By:	/s/ David V. Christopherson
	 	Name:	 David V. Christopherson
	 	Title:	 Executive Vice President, Secretary and General Counsel
	 	 
	 	FLOOR & DECOR HOLDINGS, INC.
	 	 
	 	By:	/s/ David V. Christopherson
	 	Name:	David V. Christopherson
	 	Title:	 Executive Vice President, Secretary and General Counsel
	 	 
	 	THOMAS V. TAYLOR
	 	 
	 	/s/ Thomas V. Taylor

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