Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

AMENDMENT NO. 1 TO 

THIRD AMENDED AND RESTATED CREDIT AGREEMENT AND 

THIRD AMENDED AND RESTATED GUARANTEE AND COLLATERAL AGREEMENT 

This AMENDMENT NO. 1 TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT AND THIRD AMENDED AND RESTATED GUARANTEE AND COLLATERAL
AGREEMENT, dated as of March 1, 2021 (this “Amendment”), is among GRAPHIC PACKAGING INTERNATIONAL, LLC, a Delaware limited liability company (the “Company”), certain Subsidiaries of the
Company party hereto as Designated Borrowers (together with the Company, the “Borrowers” and, each a “Borrower”), GRAPHIC PACKAGING INTERNATIONAL PARTNERS, LLC, a Delaware limited liability company
(“Intermediate Holding”), the Subsidiaries of the Company party hereto (the “Subsidiary Guarantors” and together with the Borrowers and Intermediate Holding, the “Loan Parties” and, each a
“Loan Party”), the several banks and other financial institutions parties to this Amendment (the “Lenders” and, each a “Lender”), and BANK OF AMERICA, N.A., as administrative agent for the
Lenders (in such capacity, the “Administrative Agent”), and acknowledged and agreed to by GRAPHIC PACKAGING HOLDING COMPANY, a Delaware corporation (“Holding”). 

Recitals: 
 A. The
Borrowers, the Lenders and the Administrative Agent are parties to that certain Third Amended and Restated Credit Agreement, dated as of January 1, 2018 (as in effect on the date hereof, the “Credit Agreement”). Capitalized
terms used and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement. 
 B. The Loan Parties, Holding
and the Administrative Agent are parties to that certain Third Amended and Restated Guarantee and Collateral Agreement dated as of January 1, 2018 (as amended, restated, supplemented or otherwise modified from time to time, the
“Guarantee and Collateral Agreement”). 
 C. The Company has (i) advised the Administrative Agent and the Lenders that
it desires to amend the Credit Agreement and the Guarantee and Collateral Agreement as set forth herein and (ii) requested the release of the Administrative Agent’s Lien on any real property owned by a Loan Party (including the Mortgaged
Properties) in accordance with the terms set forth herein. 
 D. Subject to the terms and conditions set forth below, the Administrative
Agent and the Lenders have agreed to so amend the Credit Agreement and the Guarantee and Collateral Agreement and release the Mortgaged Properties. 

In furtherance of the foregoing, subject to the terms and conditions set forth herein and in reliance upon the representations and warranties
set forth herein the parties agree as follows: 
 Section 1. Amendment to Credit Agreement. 

(a) Section 8.2(e) of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 

“(e) Indebtedness of the Company or any Subsidiary Guarantor secured by the Collateral (for so long as the Obligations are
secured thereby and, if the Obligations are unsecured, the Indebtedness permitted by this subsection 8.2(e) shall likewise be required to be unsecured) consisting of (i) the Partnership Transaction Assumed Indebtedness, (ii) other
Indebtedness of the Company or any Subsidiary Guarantor in an aggregate principal amount not to exceed the greater 

 
of (x) $500,000,000 minus the aggregate amount of all Incremental Facilities and Incremental Increases in effect at the time of the incurrence of such Indebtedness and (y) the maximum
amount of Indebtedness which may be incurred at such time without the Consolidated Senior Secured Leverage Ratio (after giving pro forma effect to such incurrence and all other transactions to be consummated in connection therewith) exceeding 3.25
to 1.00, provided, (A) in the case of Indebtedness incurred pursuant to this clause (ii), that (1) no Default shall exist or will occur as a result from the incurrence of such Indebtedness, (2) such Indebtedness neither matures
nor has a Weighted Average Life that is prior to the date that is six months after the Termination Date with respect to the Term A Facility or, if later, the latest Termination Date with respect to any Incremental Term Facility outstanding at the
time such Indebtedness is incurred (provided that (X) Indebtedness of the Company or any Subsidiary Guarantor may be incurred with a maturity and/or a Weighted Average Life that is prior to the date that is six months after the
Termination Date with respect to the Term A Facility or the latest Termination Date with respect to any Incremental Term Facility, as applicable, in an aggregate amount not to exceed the greater of (x) $500,000,000 and (y) 50% of EBITDA for the most
recently ended Test Period for which financial statements have been delivered pursuant to Section 7.1(a) or (b) and (Y) in determining the latest Termination Date in respect of any Term Facility for purposes of
subsection (A)(2) of this proviso, any Term Facility outstanding with a stated maturity date later than the five year anniversary of the incurrence of such Term Facility, shall be disregarded), (3) the covenants, events of default and guarantees of
any such Indebtedness, shall not be materially more restrictive to the Company, when taken as a whole, than the terms of the existing Loans, unless (x) the Lenders under the existing Loans also receive the benefit of such more restrictive terms
(it being understood to the extent that any covenant is added for the benefit of any such Indebtedness, no consent shall be required from the Administrative Agent or any Lender to the extent that such covenant is also added for the benefit of any
corresponding existing Loans), (y) any such provisions apply after the latest Termination Date applicable to outstanding Loans at such time, or (z) such terms shall be reasonably satisfactory to the Administrative Agent and the Company;
provided that a certificate of a Responsible Officer delivered to the Administrative Agent in connection with the incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such
resulting Indebtedness or copies of the principal documentation relating thereto, stating that the Company has determined in good faith that such terms and conditions satisfy the foregoing requirement, shall be conclusive evidence that such terms
and conditions satisfy the foregoing requirement unless the Administrative Agent notifies the Company within fifteen (15) Business Days that it disagrees with such determination (including a reasonable description of the basis upon which it
disagrees) and (4) such Indebtedness does not have mandatory prepayment or redemption features other than (x) amortization permitted by the foregoing clause (2) and (y) customary asset sale, insurance and condemnation proceeds
events, change of control offers and events of default no more restrictive than the terms of the existing Loans, except to the extent any such more restrictive provisions apply after the latest Termination Date existing at such time;
provided, that, no such Indebtedness shall require prepayments from the Net Cash Proceeds from events triggering prepayments pursuant to subsection 4.2(b) on a greater than pro rata basis with any Term Loans or Partnership
Transaction Assumed Indebtedness then outstanding that also requires such prepayment; and, (B) in the case of all Indebtedness permitted by this subsection 8.2(e), that such secured Indebtedness ranks pari passu with or is junior in
right of payment to the Indebtedness under this Agreement, is guaranteed only by one or more of the Company and the Guarantors, and is subject to an intercreditor agreement in form and substance reasonably satisfactory to the Administrative Agent
(it being understood and agreed by all present and subsequent Lenders from time to time party hereto that the Administrative Agent is hereby authorized to execute and deliver an intercreditor, collateral agency or similar agreement and security
documents and/or amend the existing Security Documents securing the Obligations in connection with the grant of a pari passu or junior Lien to secure such Indebtedness in form and substance reasonably satisfactory to the

  
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Administrative Agent (it being understood that the Intercreditor Agreement (as defined in the Guarantee and Collateral Agreement) is reasonably satisfactory in form and substance) and that the
execution thereof by the Administrative Agent will bind all holders from time to time of the Obligations and which may provide, among other things, that the proceeds of any Collateral may be distributed pro rata to the Obligations and such other
Indebtedness and which may provide that the trustee, administrative agent or collateral agent for such other Indebtedness may independently exercise rights and remedies with respect to the Collateral upon an event of default under such other
Indebtedness, subject to sharing, notice and other customary provisions reasonably acceptable to the Administrative Agent); or (iii) any refinancing or replacement of the Indebtedness referenced in clauses (i) or (ii) above, in whole or in
part, so long as such refinancing or replacement (x) does not increase the principal amount of the Indebtedness being refinanced or replaced except by an amount equal to unpaid accrued interest and fees and expenses incurred in connection
therewith and (y) satisfies the requirements of sub-clause (A) of the first proviso following clause (ii) above and, if such refinancing or replacement is secured by any Collateral, sub-clause (B) of such proviso;” 
 (b) Section 11.7 of the Credit Agreement is hereby
amended by adding the following new sentence at the end thereof: 
 “Notwithstanding anything provided for in this
Section 11.7, any patronage assets subject to a statutory lien pursuant to the Farm Credit Act of 1971, as amended, for the benefit of a Farm Credit Lender shall not be subject to the pro rata sharing provisions set forth
in this Section, and such patronage assets and any proceeds thereof shall not be subject to set-off as provided in Section 11.10.” 

The amendments to the Credit Agreement are limited to the extent specifically described herein and no other terms, covenants or provisions of
the Credit Agreement are intended to be affected hereby. 
 Section 2. Amendments to Guarantee and
Collateral Agreement. Effective upon the earlier of (i) the repayment in full of the Partnership Transaction Assumed Indebtedness and termination of the documentation executed by the Loan Parties in connection therewith or
(ii) the Administrative Agent’s receipt of an effective corresponding amendment and consent including provisions substantially consistent with Section 2 and 3 hereof (as determined by the Administrative
Agent in its reasonable discretion) with respect to the Partnership Transaction Assumed Indebtedness and related Security Documents (as defined therein) (the earlier of (i) and (ii), the “Partnership Transaction Indebtedness
Condition”), the Guarantee and Collateral Agreement (excluding the schedules thereto) shall be amended (a) to delete red or green stricken text (indicated textually in the same manner as the following examples: and stricken
text) and (b) to add the blue or green double-underlined text (indicated textually in the same manner as the following examples: double-underlined text and double-underlined text), in each case, as set forth in the conformed copy of
the Guarantee and Collateral Agreement attached as Annex A hereto. Upon the satisfaction of the Partnership Transaction Indebtedness Condition, each Lender hereby authorizes the Administrative Agent, on behalf of the Secured Parties, to
finalize, execute and deliver such additional amendments to, or amendments and restatements of, the Guarantee and Collateral Agreement, in order to make such further changes as may be determined by the Administrative Agent in its reasonable
discretion to be necessary or appropriate in connection herewith. The amendments to the Guarantee and Collateral Agreement are limited to the extent specifically described herein (including as set forth in Annex A and the immediately
preceding sentence) and no other terms, covenants or provisions of the Guarantee and Collateral Agreement are intended to be affected hereby. 

  
 3 

 Section 3. Consent to Release of Mortgaged
Properties. Effective upon the satisfaction of the Partnership Transaction Indebtedness Condition, each of the parties hereto acknowledges and agrees that all real property of a Loan Party currently subject to a Lien in favor of the
Administrative Agent under the terms of the Loan Documents shall be automatically released (including, without limitation, the release of each Mortgaged Property) on the date thereof and all references to “Mortgages” and real property
collateral set forth in the Credit Agreement or any other Loan Document are hereby removed therefrom mutatis mutandis. Upon the satisfaction of the Partnership Transaction Indebtedness Condition, (a) the Lenders party hereto authorize
the Administrative Agent to file any necessary mortgage satisfactions or any other documentation or take any other action required or reasonably requested by the Company to release any Liens securing the Obligations held by the Administrative Agent
on such released real property, and (b) each of the parties hereto further acknowledges and agrees that the Loan Parties and the Administrative Agent shall be permitted to enter into such amendments to the Loan Documents (including any
intercreditor, collateral agency or similar agreement currently in effect) as shall be necessary or appropriate (in the reasonable determination of the Administrative Agent) to effect the foregoing agreements in Section 2
and this Section 3. 
 Section 4. Conditions Precedent. The
effectiveness of this Amendment and the amendments and consent contemplated hereby is subject to the satisfaction of the following conditions precedent: 

(a) Execution of Amendment. The Administrative Agent shall have received counterparts of this Amendment, duly executed and delivered by
the Loan Parties, Holding and Lenders constituting Required Lenders. 
 (b) Fees and Expenses. The Company shall have paid all fees
and expenses required to be paid on the date hereof in connection with this Amendment. 
 Section 5.
Representations and Warranties. In order to induce the Administrative Agent and the Lenders to enter into this Amendment, each Loan Party represents and warrants to the Administrative Agent and the Lenders as follows: 

(a) Each of the representations and warranties made by any Loan Party pursuant to the Credit Agreement or any other Loan Document is (except to
the extent that it relates to a particular date, in which case it shall be true and correct as of such particular date) true and correct in all material respects (or in all respects if otherwise already qualified by materiality or Material Adverse
Effect) on and as of the date hereof as if made on and as of the date hereof, provided that for purposes hereof, the representations and warranties contained in subsection 5.1(a) of the Credit Agreement shall be deemed to refer to the
most recent statements furnished pursuant to subsection 7.1(a) and (b) of the Credit Agreement, respectively. 
 (b) No
Default or Event of Default has occurred and is continuing or will exist after giving effect to this Amendment and the amendments contemplated hereby. 

(c) This Amendment has been duly authorized, executed and delivered by such Loan Party and constitutes its legal, valid and binding obligation,
except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws relating to or limiting creditors’ rights generally and by general principles of equity (regardless of whether enforcement is
sought in a proceeding in equity or at law). 

  
 4 

 Section 6. Miscellaneous. 

(a) Ratification and Confirmation of Loan Documents. Each of the Loan Parties hereby consents, acknowledges and agrees to the amendments
and releases set forth herein and hereby confirms and ratifies in all respects the Loan Documents to which such Person is a party (including, without limitation, with respect to each Guarantor, the continuation of its payment and performance
obligations under the Guarantee and Collateral Agreement and, with respect to each Borrower and each Guarantor, the continuation and extension of the liens granted under the Security Documents), in each case after giving effect to the amendments
contemplated hereby (and subject to the amendments and releases contemplated by Sections 1 through 3 hereof). 

(b) Fees and Expenses. The Company shall pay on demand all reasonable
out-of-pocket costs and expenses of the Administrative Agent incurred in connection with the preparation, negotiation, execution, and delivery of this Amendment and any
other documents prepared in connection herewith, including, without limitation, the reasonable fees and disbursements of counsel for the Administrative Agent, in each case, as set forth in subsection 11.5(a) of the Credit Agreement. 

(c) Headings. Section and subsection headings in this Amendment are included herein for convenience of reference only and shall not
constitute a part of this Amendment for any other purpose or be given any substantive effect. 
 (d) Governing Law; Jurisdiction; Waiver
of Jury Trial; Etc; Severability. This Amendment shall be governed by and construed in accordance with the laws of the State of New York, and shall be further subject to the provisions of subsections 11.12, 11.15 and 11.17
of the Credit Agreement. 
 (e) Counterparts. This Amendment may be executed by one or more of the parties to this Amendment on any
number of separate counterparts (including by telecopy), and all of such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or
other electronic imaging means (e.g., “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Amendment. The words “execution,” “signed,” “signature,”
“delivery,” and words of like import in or relating to this Amendment and/or any document to be signed in connection with this Amendment shall be deemed to include Electronic Signatures or execution in the form of an Electronic Record, and
deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent
and as provided for in any applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic
Transactions Act. Each of the Loan Parties agrees that any Electronic Signature or execution in the form of an Electronic Record shall be valid and binding on itself and each of the other parties hereto to the same extent as a manual, original
signature. For purposes hereof, “Electronic Record” and “Electronic Signature” shall have the meanings assigned to them, respectively, by 15 USC §7006, as it may be amended from time to time. 

(f) Entire Agreement. This Amendment, together with the other Loan Documents (collectively, the “Relevant Documents”),
sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and supersedes any prior negotiations and agreements among the parties relating to such subject matter. No promise, condition,
representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and no such party has relied on any such promise, condition, representation or warranty. Each of the parties hereto acknowledges
that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or implied, have been made by any party to the other in relation to the subject matter hereof or thereof. None of the terms
or conditions of this Amendment may be changed, modified, waived or canceled orally or otherwise except in writing in accordance with subsection 11.1 of the Credit Agreement. This Amendment is a Loan Document. 

  
 5 

 (g) Enforceability. Any provision of this Amendment that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 (h) Successors and Assigns.
This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns (subject to subsection 11.6 of the Credit Agreement). 

[Remainder of Page Intentionally Left Blank; Signature Pages Follow] 

  
 6 

 The following parties have caused this Amendment to be executed as of the date first written
above. 
  

			
	BORROWERS:
	
	GRAPHIC PACKAGING INTERNATIONAL, LLC
		
	By:	 	              

	Name:	 	
	Title:	 	
	
	GRAPHIC PACKAGING INTERNATIONAL EUROPE HOLDINGS B.V.
		
	By:	 	              

	Name:	 	
	Title:	 	
	
	GRAPHIC PACKAGING INTERNATIONAL LIMITED
		
	By:	 	              

	Name:	 	
	Title:	 	
	
	GRAPHIC PACKAGING INTERNATIONAL JAPAN LTD.
		
	By:	 	              

	Name:	 	
	Title:	 	
	
	OTHER LOAN PARTIES:
	
	GRAPHIC PACKAGING INTERNATIONAL PARTNERS, LLC
		
	By:	 	              

	Name:	 	
	Title:	 	
	
	FIELD CONTAINER QUERETARO (USA), L.L.C.
		
	By:	 	              

	Name:	 	
	Title:	 	

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 Acknowledged and Agreed as of the 

date first set forth above: 
  

			
	GRAPHIC PACKAGING HOLDING COMPANY
		
	By:	 	              

	Name:	 	
	Title:	 	

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	ADMINISTRATIVE AGENT AND LENDERS:
	
	BANK OF AMERICA, N.A., as Administrative Agent
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	BANK OF AMERICA, N.A., as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	COÖPERATIEVE RABOBANK U.A., NEW YORK BRANCH, as a Lender
		
	By:	 	              

		 	Name:
		 	Title:
		
	By:	 	          

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	TRUIST BANK (formerly known as BRANCH BANKING AND TRUST COMPANY and as successor by merger to SUNTRUST BANK), as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	JPMORGAN CHASE BANK, N.A., as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	TD BANK, N.A., as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIAITON, as a Lender
		
	By:	 	
                 

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	CITIBANK, N.A., as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	COBANK, ACB, as a Lender
		
	By:	 	          

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	FARMCREDIT SERVICES OF AMERICA, PCA, as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	FIFTH THIRD BANK, NATIONAL ASSOCIATION (formerly known as FIFTH THIRD BANK, an Ohio banking corporation), as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	PNC BANK, NATIONAL ASSOCIATION, as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	REGIONS BANK, as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	SUMITOMO MITSUI BANKING CORPORATION, NEW YORK BRANCH, as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	MUFG BANK, LTD. (formerly known as THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.), as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	MIZUHO BANK, LTD., as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	CITIZENS BANK, N.A., as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	GOLDMAN SACHS BANK USA, as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	U.S. BANK NATIONAL ASSOCIATION, as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	CAPITAL ONE, NATIONAL ASSOCIATION, as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	FIRST HORIZON BANK (a Tennessee banking corporation, successor by conversion to FIRST TENNESSEE BANK, NATIONAL ASSOCIATION, a national banking association), as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	FIRST HAWAIIAN BANK, as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	ATLANTIC CAPITAL BANK, N.A., as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	AMERICAN SAVINGS BANK, F.S.B., as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	CENTRAL PACIFIC BANK, as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	CATHAY BANK, as a Lender
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 
			
	MERCANTIL BANK, N.A., as a Lender
		
	By:	 	          

		 	Name:
		 	Title:
		
	By:	 	              

		 	Name:
		 	Title:

  
 Graphic Packaging, LLC

 Signature Page to Amendment No. 1 to Third Amended and Restated Credit Agreement and Third Amended and Restated 

Guarantee and Collateral Agreement 

 Annex A 

Amended Third Amended and Restated Guarantee and Collateral Agreement 

See attached.Document

Exhibit 4.1

DESCRIPTION OF SECURITIES
The following summary is a description of the material terms of Newmark Group, Inc.’s, capital stock. When we use the words “Newmark,” “we,” “us,” “our” or the “Company,” we are referring to Newmark Group, Inc. and its consolidated subsidiaries. Copies of our amended and restated certificate of incorporation, which we refer to as our “certificate of incorporation,” and our amended and restated bylaws, which we refer to as our “bylaws,” are incorporated by reference as Exhibits 3.1 and 3.2 to our Annual Report on Form 10-K for the year ended December 31, 2020 of which this Exhibit 4.1 is a part.
Our Capital Stock
The following descriptions of our Class A common stock, par value $0.01 per share, which we refer to as our “Class A common stock”, Class B common stock, par value $0.01 per share, which we refer to as our “Class B common stock”, preferred stock and the relevant provisions of our certificate of incorporation and bylaws are summaries thereof and are qualified in their entirety by reference to our certificate of incorporation and bylaws, copies of which are incorporated by reference as exhibits to our Annual Report on Form 10-K for the year ended December 31, 2020 of which this Exhibit 4.1 is a part, and applicable law.
Our authorized capital stock consists of 1,500,000,000 shares of common stock, consisting of 1,000,000,000 shares of our Class A common stock and 500,000,000 shares of our Class B common stock, and 50,000,000 shares of preferred stock, par value $0.01 per share.
Common Stock
As of February 24, 2021, there were 162,086,746 shares of our Class A common stock outstanding and 21,285,533 shares of our Class B common stock outstanding. The holders of our Class A common stock are generally entitled to one vote per share on all matters to be voted upon by the stockholders as a group, entitling holders of our Class A common stock to approximately 43.2% of our voting power as of such date, and do not have cumulative voting rights. The holders of our Class B common stock are generally entitled to ten votes per share on all matters to be voted upon by the stockholders as a group, entitling holders of our Class B common stock to 56.8% of our voting power as of such date, and do not have cumulative voting rights. Cantor Fitzgerald, L.P, which we refer to as “Cantor,” and CF Group Management, Inc., the managing general partner of Cantor, and an entity controlled by our Chairman, Howard W. Lutnick, which we refer to as “CFGM,” are the only holders of our Class B common stock. Our Class B common stock generally votes together with our Class A common stock on all matters submitted to the vote of our stockholders. Our Class B common stock shall be issued only to (1) Cantor, (2) any entity controlled by Cantor or by Mr. Lutnick, or (3) Mr. Lutnick, his spouse, his estate, any of his descendants, any of his relatives or any trust established for his benefit or for the benefit of his spouse, any of his descendants or any of his relative, which we refer to as the “Qualified Class B Holders.”
Each share of our Class A common stock is equivalent to a share of our Class B common stock for purposes of economic rights. Subject to preferences that may be applicable to any outstanding preferred stock, the holders of shares of our Class A common stock and Class B common stock are entitled to receive ratably such dividends, if any, as may be declared from time to time by our board of directors out of funds legally available therefor. In the event of our liquidation, dissolution or winding up, the holders of shares of our Class A common stock and Class B common stock are entitled to share ratably in all assets remaining after payment of liabilities, subject to prior distribution rights of preferred stock, if any, then outstanding.
Our certificate of incorporation provides that each share of the Class B common stock is convertible at any time, at the option of the holder, into one share of the Class A common stock. Holders of shares of Class A common stock will not have the right to convert shares of Class A common stock into shares of Class B common stock unless such right is provided for by Newmark pursuant to an agreement. Pursuant to the Exchange Agreement by and among Newmark, BGC Partners, Inc. (“BGC Partners”) and Cantor, dated as of December 13, 2017, any Qualified Class B Holder entitled to hold Class B common stock under our certificate of incorporation has the right to exchange at any time and from time to time, on a one-to-one basis, shares of our Class A common stock now owned 
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or subsequently acquired by such persons for shares of our Class B common stock, up to the number of shares of Class B common stock that are authorized but unissued under our certificate of incorporation. Our certificate of incorporation does not provide for automatic conversion of shares of Class B common stock into shares of Class A common stock upon the occurrence of any event.
None of the shares of our Class A common stock or Class B common stock has any pre-emptive or other subscription rights. There will be no redemption or sinking fund provisions applicable to shares of our Class A common stock or Class B common stock. All outstanding shares of our Class A common stock and Class B common stock are fully paid and non-assessable.
Preferred Stock
Our board of directors has the authority to cause us to issue preferred stock in one or more classes or series and to fix the designations, powers, preferences and rights, and the qualifications, limitations or restrictions thereof, including dividend rights, dividend rates, terms of redemption, redemption prices, conversion rights and liquidation preferences of the shares constituting any class or series, without further vote or action by the stockholders. The issuance of our preferred stock pursuant to such “blank check” provisions may have the effect of delaying, deferring or preventing a change of control of us without further action by our stockholders and may adversely affect the voting and other rights of the holders of shares of our Class A common stock. At present, we have no plans to issue any preferred stock.
Anti-Takeover Effects of Delaware Law, Our Certificate of Incorporation and Bylaws and the Outstanding Notes
Some provisions of the Delaware General Corporation Law, which we refer to as the “DGCL,” and our certificate of incorporation, bylaws and outstanding notes, could make the following more difficult:
 												
	 	•	 	acquisition of us by means of a tender offer;

 												
	 	•	 	acquisition of us by means of a proxy contest or otherwise; or

 												
	 	•	 	removal of our incumbent officers and directors.

The provisions, summarized above and below, are designed to discourage coercive takeover practices and inadequate takeover bids. These provisions are also primarily designed to encourage persons seeking to acquire control of us to first negotiate with our board of directors. We believe that the benefits of increased protection give us the potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us and outweigh the disadvantages of discouraging those proposals because negotiation of them could result in an improvement of their terms.
Delaware Anti-Takeover Law
We have elected pursuant to our certificate of incorporation not to be subject to Section 203 of the DGCL, which generally prohibits a publicly held Delaware corporation from engaging in a business combination, such as a merger, with a person or group owning 15% or more of the corporation’s voting stock, for a period of three years following the date on which the person became an interested stockholder, unless (with certain exceptions) the business combination or the transaction in which the person became an interested stockholder is approved in accordance with Section 203. Accordingly, we are not subject to the anti-takeover effects of Section 203. However, our certificate of incorporation contains certain provisions that have the same effect as Section 203, except that they provide that each of the Qualified Class B Holders and certain of their direct transferees will not be deemed to be “interested stockholders,” and accordingly will not be subject to such restrictions.

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Certificate of Incorporation and Bylaws
Our bylaws provide that special meetings of stockholders may be called only by the Chairman of our board of directors, or in the event the Chairman of our board of directors is unavailable, by the Chief Executive Officer or by the holders of a majority of the voting power of our Class B common stock, which is held by Cantor and CFGM. In addition, as discussed above, our certificate of incorporation permits us to issue “blank check” preferred stock..
Our bylaws require advance written notice prior to a meeting of our stockholders of a proposal or director nomination which a stockholder desires to present at such a meeting, which generally must be received by our Secretary not later than 120 days prior to the first anniversary of the date of our proxy statement for the preceding year’s annual meeting. Our bylaws provide that all amendments to our bylaws must be approved by either the holders of a majority of the voting power of all of our outstanding capital stock entitled to vote or by a majority of our board of directors.
Corporate Opportunity
Our certificate of incorporation provides that, to the greatest extent permitted by law, no Cantor Company or BGC Partners Company, each as defined below, or any of the representatives, as defined below, of a Cantor Company or BGC Partners Company will, in its capacity as our stockholder or affiliate, owe or be liable for breach of any fiduciary duty to us or any of our stockholders. In addition, to the greatest extent permitted by law, none of any Cantor Company, BGC Partners Company or any of their respective representatives will owe any duty to refrain from engaging in the same or similar activities or lines of business as us or our representatives or doing business with any of our or our representatives’ clients or customers. If any Cantor Company, BGC Partners Company or any of their respective representatives acquires knowledge of a potential transaction or matter that may be a corporate opportunity (as defined below) for any such person, on the one hand, and us or any of our representatives, on the other hand, such person will have no duty to communicate or offer such corporate opportunity to us or any of our representatives, and will not be liable to us, any of our stockholders or any of our representatives for breach of any fiduciary duty by reason of the fact that they pursue or acquire such corporate opportunity for themselves, direct such corporate opportunity to another person or do not present such corporate opportunity to us or any of our representatives, subject to the requirement described in the following sentence. If a third party presents a corporate opportunity to a person who is both our representative and a representative of a Cantor Company and/or a BGC Partners Company, expressly and solely in such person’s capacity as our representative, and such person acts in good faith in a manner consistent with the policy that such corporate opportunity belongs to us, then such person will be deemed to have fully satisfied and fulfilled any fiduciary duty that such person has to us as our representative with respect to such corporate opportunity, provided that any Cantor Company, any BGC Partners Company or any of their respective representatives may pursue such corporate opportunity if we decide not to pursue such corporate opportunity.
No contract, agreement, arrangement or transaction between any Cantor Company, any BGC Partners Company or any of their respective representatives, on the one hand, and us or any of our representatives, on the other hand, will be void or voidable solely because any Cantor Company, any BGC Partners Company or any of their respective representatives has a direct or indirect interest in such contract, agreement, arrangement or transaction, and any Cantor Company, any BGC Partners Company or any of their respective representatives (i) shall have fully satisfied and fulfilled its duties and obligations to us and our stockholders with respect thereto; and (ii) shall not be liable to us or our stockholders for any breach of any duty or obligation by reason of the entering into, performance or consummation of any such contract, agreement, arrangement or transaction, if:
 												
	 	•	 	such contract, agreement, arrangement or transaction is approved by our board of directors or any committee thereof by the affirmative vote of a majority of the disinterested directors, even if the disinterested directors constitute less than a quorum;

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	 	•	 	such contract, agreement, arrangement or transaction is approved by our stockholders by the affirmative vote of a majority of the voting power of all of our outstanding shares of capital stock entitled to vote thereon, excluding from such calculation shares of capital stock that are beneficially owned (as such term is defined in Rule 16a-1(a)(2) promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, by a Cantor Company or a BGC Partners Company, respectively; or

 												
	 	•	 	such contract, agreement, arrangement or transaction, judged according to the circumstances at the time of the commitment, is fair to us.

While the satisfaction of the foregoing conditions shall be sufficient to show that any Cantor Company, any BGC Partners Company or any of their respective representatives (i) shall have fully satisfied and fulfilled its duties and obligations to us and our stockholders with respect thereto; and (ii) shall not be liable to us or our stockholders for any breach of any duty or obligation by reason of the entering into, performance or consummation of any such contract, agreement, arrangement or transaction, none of the foregoing conditions shall be required to be satisfied for such showing.
Our directors who are also directors or officers of any Cantor Company, any BGC Partners Company or any of their respective representatives may be counted in determining the presence of a quorum at a meeting of our board of directors or of a committee that authorizes such contract, agreement, arrangement or transaction. Shares of our common stock owned by any Cantor Company, any BGC Partners Company or any of their respective representatives may be counted in determining the presence of a quorum at a meeting of stockholders called to authorize such contract, agreement, arrangement or transaction. Our directors who are also directors or officers of any Cantor Company, any BGC Partners Company or any of their respective representatives shall not owe or be liable for breach of any fiduciary duty to us or any of our stockholders for any action taken by any Cantor Company, any BGC Partners Company or their respective representatives, in their capacity as our stockholder or affiliate.
For purposes of the above:
 												
	 	•	 	“Cantor Company” means Cantor or any of its affiliates (other than us and our subsidiaries);

 												
	 	•	 	“BGC Partners Company” means BGC Partners or any of its affiliates (other than us and our subsidiaries);

 												
	 	•	 	“representatives” means, with respect to any person, the directors, officers, employees, general partners or managing member of such person.

 												
	 	•	 	“corporate opportunity” means any business opportunity that we are financially able to undertake, that is, from its nature, in our lines of business, is of practical advantage to us and is one in which we have an interest or a reasonable expectancy, and in which, by embracing the opportunities, the self-interest of a Cantor Company or a BGC Partners Company or any of their respective representatives, as the case may be, will be brought into conflict with our self-interest.

Following the completed November 2018 pro-rata distribution, which we refer to as the “Spin-Off,” by BGC Partners, BGC Partners no longer owns any shares of our common stock or equity interests of our subsidiaries.
Registration Rights for Class A Common Stock
In connection with the separation on December 13, 2017, we entered into a registration rights agreement with Cantor and BGC Partners which provides Cantor and BGC Partners and their respective affiliates (prior to the Spin-Off) and Cantor and its affiliates (after the Spin-Off) registration rights with respect to shares of our Class A common stock, including shares issued or to be issued upon exchange of the Newmark Holdings, L.P. exchangeable limited partnership interests held by Cantor, shares of our Class A common stock issued or issuable in respect of or in exchange for any shares of our Class B common stock and any other shares of our Class A common stock that may be acquired by Cantor, BGC Partners or their respective affiliates.

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Transfer Agent and Registrar
The transfer agent and registrar for our Class A common stock is American Stock Transfer & Trust Company, LLC.

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