Document:

Exhibit 10.2

AMENDMENT NO. 10 TO CREDIT AGREEMENT

This Amendment No. 10 to
Credit Agreement, dated as of August 1, 2007 (this “Amendment”), is
entered into by and among Blue Ridge Paper Products Inc., a Delaware
corporation (“Borrower”), as Borrower; BRPP, LLC, a North Carolina limited
liability company (the “IP Subsidiary”), as a Credit Party; and General
Electric Capital Corporation, as a Lender and as Agent for Lenders (in such
capacity, “Agent”).

RECITALS

A.            Borrower, the IP Subsidiary, Agent and Lender
are parties to that certain Credit Agreement, dated as of December 17, 2003 (as
amended by Amendment No. 1 thereto, dated as of February 17, 2004, Amendment
No. 2 thereto, dated as of September 15, 2004, Consent and Amendment No. 3
thereto, dated as of October 8, 2004, Amendment No. 4 thereto, dated as of
October 8, 2004, Amendment No. 5 thereto, dated as of December 21, 2004,
Amendment No. 6 thereto, dated as of August 5, 2005, Amendment No. 7 thereto,
dated as of March 15, 2006, Amendment No. 8 thereto, dated as of June 9, 2006,
Consent and Amendment No. 9 thereto, dated as of July 31, 2007, and as from
time to time hereafter further amended, restated, supplemented or otherwise
modified and in effect, the “Credit Agreement”), pursuant to which Lender has
made and will hereafter make loans and advances and other extensions of credit
to Borrower.

B.            Borrower, Agent and Lender are desirous
of amending the Credit Agreement as and to the extent set forth herein and
subject to the terms and conditions set forth herein.

C.            This Amendment shall constitute a Loan
Document and these Recitals shall be construed as part of this Amendment.  Capitalized terms used herein without
definition are so used as defined in the Credit Agreement and Annex A thereto.

NOW, THEREFORE, in
consideration of the premises and the mutual covenants hereinafter contained
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:

1.             Amendments
to Credit Agreement.

1.1.          Section 1.1 of the
Credit Agreement is amended by inserting the following as a new Section 1.1(b)
(i.e., replacing the words “Intentionally Omitted”):

“(b)         Revolving Loan
Commitment Increase.

(i)  Borrower may deliver to Administrative Agent
a notice (an “Increase Notice”) to request an increase (a “Revolving
Loan Commitment Increase”) in the aggregate Revolving Loan Commitment,
which Increase Notice may include any proposed term and condition for such
proposed Revolving Loan Commitment Increase but shall include in any event the
amount of such proposed Revolving Loan Commitment Increase; provided, however,
that (A) the principal amount of such Revolving Loan Commitment Increase shall
not exceed $25,000,000 in the aggregate, (B) no Revolving Loan Commitment

Increase shall be
effective later than 180 days prior to the Commitment Termination Date, (C) no
Revolving Loan Commitment Increase shall be effective earlier than 21 days
after the delivery of the Increase Notice to Administrative Agent in respect of
such Revolving Loan Commitment Increase, (D) no more than one Revolving Loan
Commitment Increase shall be made pursuant to this Section 1.1(b) and (E) no
Increase Notice shall be given if any Senior Secured Notes are outstanding at
the time unless the Revolving Loan Commitment Increase is permitted under the
terms of the Senior Secured Notes Indenture to be incurred as secured debt on
the same terms as the existing Obligations. 
Nothing in this Agreement shall be construed to obligate any Lender to
negotiate for (whether or not in good faith), solicit, provide or consent to
any increase in the Revolving Loan Commitment, and any such increase may be
subject to changes in any term herein.

(ii)           Administrative Agent
shall promptly notify each Lender of the proposed Revolving Loan Commitment
Increase and of the proposed terms and conditions therefor agreed between
Borrower and Administrative Agent.  Each
such Lender may, in its sole discretion, commit to participate in such
Revolving Loan Commitment Increase by forwarding its commitment to
Administrative Agent therefor in form and substance satisfactory to
Administrative Agent.  Administrative
Agent shall allocate, in its sole discretion but in amounts not to exceed for
each such Lender the commitment received from such Lender, the Revolving Loan
Commitment to be made as part of the Revolving Loan Commitment Increase to the
Lenders from which it has received such commitments.  If Administrative Agent does not receive
enough commitments from existing Lenders, it may allocate any excess in the
proper amount of such Revolving Loan Commitment Increase to other Eligible
Assignees.

(iii)          Each Revolving Loan
Commitment Increase shall become effective after the satisfaction of the
conditions precedent set forth in Section 2.3, on a date agreed by Borrower and
Administrative Agent (a “Revolving Loan Commitment Increase Date”).  Administrative Agent shall notify the Lenders
and Borrower, on or before 1:00 p.m. on the Business Day following the
Revolving Loan Commitment Increase Date of the effectiveness of the Revolving
Loan Commitment Increase.

(iv)          On the Revolving Loan
Commitment Increase Date, each Lender or Eligible Assignee participating in
such Revolving Loan Commitment Increase shall purchase from each existing
Revolving Lender having Revolving Loans outstanding on such Revolving Loan
Commitment Increase Date, without recourse or warranty, an undivided interest
and participation, to the extent of such Revolving Lender’s Pro Rata Share of
the new Revolving Loan Commitments (after giving effect to such Revolving Loan
Commitment Increase), in the aggregate outstanding Revolving Loans, so as to
ensure that, on the Revolving Loan Commitment Increase Date after giving effect
to such Revolving Loan Commitment Increase, each Revolving Lender holds its Pro
Rata Share of the Revolving Loans outstanding on such Revolving Loan Commitment
Increase Date.

(v)           The effectiveness of
any Revolving Loan Commitment Increase shall be subject to the delivery of such
other documents, instruments, certificates and opinions of counsel as
Administrative Agent may reasonably request or as any Lender participating in
such

 2
 

Revolving Loan Commitment
Increase may reasonably require as a condition to its commitment in such
Revolving Loan Commitment Increase.”

1.2.          Section 6.3(a)(vii) of
the Credit Agreement is amended and restated in its entirety as follows:

“(vii) other Indebtedness
of the Credit Parties that is either (A) unsecured or (B) secured only by Liens
on Noteholder Priority Collateral; provided, that, if any such Lien has
priority over the Agent’s Lien on the Noteholder Priority Collateral, the
holders of any such Indebtedness shall have entered into a collateral access
and use agreement allowing Agent access and use rights with respect to the
Noteholder Priority Collateral, in form and substance satisfactory to Agent,”.

1.3.          Section 6.4(a) of the
Credit Agreement is amended by amending and restating the second sentence
thereof in its entirety as follows:

“In addition, if any such
transaction or series of related transactions involves payments in excess of
$500,000 in the aggregate (other than sales of Inventory to, and purchases of
Inventory from, any Affiliate located in the United States on customary trade
terms), the terms of these transactions must be disclosed in advance to Agent
and Lenders.”

1.4.          Section 6.7(c) of the
Credit Agreement is amended and restated in its entirety as follows:

“(c) Liens created after
the date hereof by conditional sale or other title retention agreements (including
Capital Leases) or in connection with purchase money Indebtedness with respect
to Equipment and Fixtures acquired by any Credit Party in the ordinary course
of business, (provided that such Liens attach only to the assets subject
to such purchase money debt and such Indebtedness is incurred within twenty
(20) days following such purchase and does not exceed 100% of the purchase
price of the subject assets);”.

1.5.          Section 6.7 of the
Credit Agreement is amended by inserting the following as a new clause (h) at
the end of the first sentence thereof:

“and (h) Liens on the
Noteholder Priority Collateral securing the Indebtedness permitted to be
incurred under clause (B) of Section 6.3(a)(vii)”.

1.6.          Section 6.8(b) of the
Credit Agreement is amended by deleting the dollar figure “$1,500,000” and
replacing it with the dollar figure “$5,000,000”.

1.7.          Section 6.13 of the
Credit Agreement is amended and restated in its entirety as follows:

“6.13.      Restricted Payments.  No Credit Party shall make any Restricted
Payment, except (a) officer, director and employee loans permitted under
Section 6.4(b) above, (b) Restricted Payments in respect of Stock of Holdings
directly related to the consummation of the RGL Merger; provided, that, no
proceeds of any Loans shall be used to make such

 3
 

Restricted Payments, (c)
dividends and distributions from Borrower to Holdings to enable Holdings to pay
its ordinary course expenses (e.g., franchise taxes, reasonable legal and
accounting expenses and directors’ and officers’ insurance premiums and to
reimburse its directors for reasonable out-of-pocket costs and expenses
incurred in attending board of directors meetings, but not for payment of
directors’ fees), (d) dividends and distributions from Borrower to Holdings in
an amount equal to Borrower’s proportionate share of Holdings’ then due and
payable consolidated, combined or unitary income tax liabilities, and (e) other
Restricted Payments so long as each of the following conditions are satisfied:
(1) Borrowing Availability shall be equal to at least $10,000,000 both before
and after giving effect to any such Restricted Payment, (2) the Fixed Charge
Coverage Ratio of Borrower on a consolidated basis for the 12-month period then
ended shall be equal to at least 1.20 to 1.00 both before and after giving
effect to any such Restricted Payment and (3) no Default or Event of Default
shall have occurred and be continuing or would result from the making of such
Restricted Payment; provided, that, when calculating the Fixed Charge Coverage
Ratio (solely for purposes of this Section 6.13), the following additional
adjustments shall be made: (x) Capital Expenditures, to the extent funded other
than with proceeds of the Loans, shall not be included in Fixed Charges, (y)
severance payments, to the extent funded other than with proceeds of the Loans,
shall be excluded from EBITDA to the extent such payments were included in
consolidated net income and (z) severance payments related to not more than
three plant, office or facility closures or rationalizations during the term of
the Agreement that are funded with proceeds of the Loans shall be excluded from
EBITDA to the extent such payments were included in consolidated net income, in
an amount not to exceed $1,500,000 for each such plant, office or facility
closure or rationalization.”

1.8.          Annex A (Definitions) to
the Credit Agreement is amended by deleting from clause (a) of the definition
of “Commitment Termination Date” the date “December 15, 2008” and replacing it
with the date “July 31, 2010”.

1.9.          Annex A (Definitions) to
the Credit Agreement is amended by inserting as a new subclause (x) in clause
(c) of the definition of “EBITDA” immediately following the words “to the
extent that such fee is not paid in cash” at the end of clause (ix), the
following:

“and (x) Restricted
Payments permitted under Section 6.13(b) of the Agreement for such
period”.

1.10.        Annex A (Definitions) to
the Credit Agreement is amended by inserting as a new clause (f) in the
definition of “Fixed Charges” immediately after the end of clause (e), the
following:

“plus (f)
Restricted Payments permitted under Section 6.13(e) of the Agreement for
such period”.

 4
 

2.             Conditions
to Effectiveness.  The effectiveness
of this Amendment is expressly conditioned upon the satisfaction of each of the
following conditions precedent in a manner acceptable to Agent:

2.1.          Agent’s receipt of
counterparts of this Amendment, duly executed by Borrower, the IP Subsidiary,
Agent and Lender.

2.2.          No Default or Event of
Default shall have occurred and be continuing or would result from the
effectiveness of this Amendment.

3.             Reference
to and Effect Upon the Credit Agreement and other Loan Documents.

3.1.          The Credit Agreement,
the Notes and each other Loan Document shall remain in full force and effect
and each is hereby ratified and confirmed by Borrower and the IP
Subsidiary.  Without limiting the
foregoing, the Liens granted pursuant to the Collateral Documents shall
continue in full force and effect and the guaranty of the IP Subsidiary shall
continue in full force and effect.

3.2.          Each reference in the
Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or any
other word or words of similar import shall mean and be a reference to the
Credit Agreement as amended hereby, and each reference in any other Loan
Document to the Credit Agreement or any word or words of similar import shall
be and mean a reference to the Credit Agreement as amended hereby.

4.             Counterparts.  This Amendment may be executed in any number
of counterparts, each of which when so executed shall be deemed an original but
all such counterparts shall constitute one and the same instrument.  A counterpart signature page delivered by fax
transmission shall be as effective as delivery of an originally executed
counterpart.

5.             Costs
and Expenses.  As provided in Section
11.3 of the Credit Agreement, Borrower shall pay the fees, costs and expenses
incurred by Agent in connection with the preparation, execution and delivery of
this Amendment (including, without limitation, reasonable attorneys’ fees).

6.             GOVERNING
LAW.  THIS AMENDMENT SHALL BE
GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE INTERNAL LAWS (AS
OPPOSED TO CONFLICTS OF LAW PROVISIONS) OF THE STATE OF NEW YORK.

7.             Headings.  Section 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.

[SIGNATURE PAGE FOLLOWS]

 5

IN WITNESS WHEREOF, this Amendment has been duly
executed as of the date first written above.

	
   

  	
  BLUE RIDGE PAPER PRODUCTS INC., as Borrower

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John Wadsworth

  	
   

  
	
   

  	
  Title:

  	
  CFO

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  BRPP, LLC, as a Credit Party

  
	
   

  	
  By:

  	
  Blue Ridge Paper Products Inc., sole Member and

  Manager

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John Wadsworth

  	
   

  
	
   

  	
  Title:

  	
  CFO

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GENERAL ELECTRIC CAPITAL CORPORATION,

  
	
   

  	
  as Agent and Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Meeno Sameer

  	
   

  
	
   

  	
  Title: Duly Authorized Signatory

  
							

 

AMENDMENT NO. 10 TO CREDIT AGREEMENTExhibit 10.3

Packaging Holdings
Inc.

c/o Burns, Philp & Company Pty Limited

Level 23, 56 Pitt Street

Sydney NSW 2000

Australia

June 13, 2007

United Steelworkers

Five Gateway Center

Pittsburgh, PA 15222

RE: Acquisition of Blue
Ridge by Rank Group Limited.

Ladies and Gentlemen:

The following will
confirm our understanding and agreement as to the terms and conditions of
employment that will apply to United Steelworker-represented (“USW”) bargaining
unit employees of Blue Ridge Paper Products (“Blue Ridge”) in the event that
Blue Ridge is acquired (the “Acquisition”) either directly or indirectly,
including through a merger with Packaging Holdings Inc(the “Company”) by Rank
Group Limited.

The Company and the USW
agree that if the Acquisition is consummated, then.

1.  The agreements between Blue Ridge and the USW
existing as of the today (the “Current CBAs”) shall remain in effect for their
original term, except as expressly set forth herein.  The Notice of Termination sent by the USW,
dated May 1, 2007, shall be cancelled and the Right to Terminate letter
agreement, dated July 10, 2006, shall be of no further force or effect.

2.  The major pulp and paper making equipment at
the Canton facility and the major equipment at the Waynesville facility will be
operated without interruption and there shall be no involuntary lay-offs of
USW-represented employees as a result of the Acquisition during the term of the
Current CBAs provided, however, that (a) layoffs resulting from the failure to
operate said machines as a result of shutdowns for maintenance or “Acts of God”
will not constitute or result in a violation of this agreement; and (b) layoffs
resulting from changes in market conditions which make certain products or
operations non-competitive will not constitute a violation of this agreement.

3.  The Company may close no more than one of the
USW represented, as of this date, converting facilities during the term of the
Current CBAs, unless changes in market conditions make certain products,
operations or facilities non-competitive, in which event this paragraph will
not apply to such products, operations or facilities.  Any contractual severance obligation will be
honored in the event a facility is closed and such provisions will control
unless the USW 

and the Company agree to
other terms at or subsequent to the time of the announcement of the closure.

4.  Any bargaining unit headcount reductions made
possible through the synergies of the Acquisition will be achieved through
attrition.

5.  The disposition of any converting facility,
as required by any governmental agency as a requirement for approval of the
contemplated Acquisition will not constitute a violation of this agreement.

6.  Profit sharing, as defined in the Current
CBAs, will be eliminated as of the effective date of the Acquisition and in
lieu thereof the USW represented employees will receive an additional 2% wage
increase in the second year of the contract and a 1% wage increase in the third
year of the contract.

7.  The Company has been advised by Blue Ridge
and the USW that Article 31.B. of the Master Agreement between Blue Ridge and
the USW has never been implemented and is of no force or effect; and for this
reason, Article 31.B. is deleted from the Master Agreement.

8.  Blue Ridge and the USW will cause the ESOP to
be terminated as of immediately following the consummation of the Acquisition,
with proceeds to be distributed in accordance with the terms of the ESOP.

9. In the event of a plant
closure or layoff from a former Blue Ridge facility represented by the USW, the
impacted bargaining unit employee(s) will be offered preferential hire rights
to other facilities represented by the USW as provided on Attachment A to this
letter of agreement..

10.  This letter agreement has been duly
authorized, executed and delivered by the parties hereto and is the legal,
valid and binding obligation of USW and the Company, enforceable in accordance
with its terms

11. This letter agreement
shall be binding upon and inure solely to the benefit of the parties and their
permitted assigns and nothing herein is intended to or shall confer upon any
other person or entity, any right, benefit or remedy of any nature whatsoever,
under or by reason of this Agreement. 
USW acknowledges that this agreement shall be enforceable on behalf of
the Company by Rank Group Limited or any affiliate of Rank Group Limited and/or
Blue Ridge (provided that any enforcement by Blue Ridge prior to the closing of
the Acquisition shall require the consent of Rank Group Limited).

12.  This letter is the complete agreement of the
parties concerning the subject matter hereof and supersedes any prior
agreements concerning such subject matter.

[REMAINER OF PAGE
INTENTIONALLY LEFT BLANK]

 

	
  

  	
  Sincerely,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Packaging
  Holdings Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ GREGORY ALAN
  COLE

  	
   

  
	
   

  	
  Name: Gregory
  Alan Cole

  
	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  

 

	
  Agree To and Confirmed on
  behalf of

  
	
  the United
  Steelworkers

  
	
   

  
	
   

  
	
  /s/ STAN JOHNSON

  	
   

  
	
  Name: Stan
  Johnson

  
	
  Title:
  Authorized Representative of the United Steelworkers

  

 

ATTACHMENT A:  Preferential Hiring

1.  Eligibility.  In
the event of a plant closure or layoff from a former Blue Ridge facility
represented by the USW, the impacted bargaining unit employee(s) will be
eligible for preferential hiring opportunities before the Company hires new
employees at other Blue Ridge facilities presented by the USW or Evergreen
Packaging Inc. hires new employees at its facilities represented by the USW,
provided that preferential hiring will not apply to any employee who opted to
retire or otherwise voluntarily sever his or her employment relationship with
the Company upon layoff or complete plant closure.  Preferential hire positions will not be
filled until regular recall is exhausted at the facility requested.

2.  Qualifications. 
Preferential hire applicants will not be subjected to interviews, tests,
qualifications or other criteria not required of regular laid off employees
being recalled to similar jobs within the facility in which preferential hire
is desired.  If the preferential hire
applicant were qualified in a similar job in their home facility that applicant
will be considered as qualified for similar jobs in the new facility.

3.  Preferential Hiring List.  The
Company will maintain a master list of preferential hire requests, in order of
Company seniority.  Laid-off employees
desiring to place their names on the list shall submit a written request to the
Company, on forms to be provided by the Company and delivered to an address
specified by the Company.  The forms will
allow the laid-off employee to identify which other Blue Ridge facility or
facilities represented by the USW at which the employee desires to be
considered for preferential hiring. 
Prior to hiring new employees from the street at any such facility, the
Company will  offer those vacant
positions  to laid-off employees listed
on the Preferential Hiring List, with offers made in sequence on the basis of  Company Seniority.

4.  Duration of Preferential
Hiring Rights.  Preferential
hire rights will be maintained as long as the individual employee would have
retained recall rights under the terms of the Collective Bargaining Agreement
in place at the time of layoff or plant closure, unless improvements are made
in subsequent collective bargaining agreements.

5.  Retention of Prior Rights.  While awaiting an opportunity for
preferential hire, laid-off  bargaining
unit employees who place their names on the Preferential Hiring List  will retain all rights and privileges at
their original home facility as specified by the applicable  Collective Bargaining Agreement  If preferential hire is offered and accepted
at another facility, the employee will continue to  retain recall rights to their home facility,
if the home facility remains in operation.

6.  Seniority After
Preferential Hiring.  Upon
entry in to a different facility as a result of preferential hire the
bargaining unit employee will retain total company seniority for purposes of
vacation, pension, or other contractual rights specifically allowed within the
master contract agreement.  However, the
bargaining unit employee exercising preferential hire will not be able to
utilize their Company Seniority for purposes of shift preference, job bidding, vacation
scheduling or other seniority rights dependent upon seniority normally held
within the specific site or unit; plant seniority will control as to such
rights.

7.  The specific language incorporating the
principles set forth above will be negotiated in good faith by the parties
within the current Collective Bargaining Agreement(s) by addendum upon closing
of the transaction using Appendix “B” within the current Collective Bargaining
Agreement as a template (it being understood that the terms set forth herein
shall be binding until such time as such addendum is agreed upon).

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}]]