<SEC-DOCUMENT>0001193125-18-049979.txt : 20180220
<SEC-HEADER>0001193125-18-049979.hdr.sgml : 20180220
<ACCEPTANCE-DATETIME>20180220123703
ACCESSION NUMBER:		0001193125-18-049979
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180213
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180220
DATE AS OF CHANGE:		20180220

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SEALED AIR CORP/DE
		CENTRAL INDEX KEY:			0001012100
		STANDARD INDUSTRIAL CLASSIFICATION:	PLASTIC MATERIAL, SYNTH RESIN/RUBBER, CELLULOS (NO GLASS) [2820]
		IRS NUMBER:				650654331
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12139
		FILM NUMBER:		18623832

	BUSINESS ADDRESS:	
		STREET 1:		2415 CASCADE POINTE BOULEVARD
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28208
		BUSINESS PHONE:		980-221-3235

	MAIL ADDRESS:	
		STREET 1:		2415 CASCADE POINTE BOULEVARD
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28208

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WR GRACE & CO/DE
		DATE OF NAME CHANGE:	19961015

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRACE HOLDING INC
		DATE OF NAME CHANGE:	19960805
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d326219d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B><FONT
STYLE="white-space:nowrap">FORM&nbsp;8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): February&nbsp;13, 2018 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>SEALED AIR CORPORATION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name of Registrant as Specified in its Charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


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<TD WIDTH="32%"></TD>
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<TD WIDTH="32%"></TD></TR>


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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">1-12139</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">65-0654331</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or Other Jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of Incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Commission<BR>File Number)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(IRS Employer<BR>Identification No.)</B></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD WIDTH="48%"></TD></TR>


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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2415 Cascade Pointe Boulevard</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Charlotte, North Carolina</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>28208</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(Address of Principal Executive Offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">980-221-3235</FONT></FONT> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former Name or Former Address,&nbsp;If Changed Since Last Report) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the <FONT STYLE="white-space:nowrap">Form&nbsp;8-K</FONT> filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as
defined in Rule 405 under the Securities Act (17 CFR 230.405) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.12b-2).</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange
Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Sealed Air Corporation Executive Severance Plan </U></I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February&nbsp;13, 2018, the Organization and Compensation Committee of the Board of Directors (the &#147;Board&#148;) of Sealed Air Corporation (the
&#147;Company&#148;) approved an amendment and restatement of the Sealed Air Corporation Executive Severance Plan (the &#147;Plan&#148;) to make two changes: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">for an involuntary termination not in connection with a change in control, the severance period will be fixed as 12 months; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">for cash severance, the severance will be based on the sum of the covered executive&#146;s salary and target annual bonus. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing summary of the terms and conditions of the Plan is not a complete discussion of the document. Accordingly, the foregoing is qualified in its
entirety by reference to the full text of the Plan included as Exhibit 10.1 to this Current Report on Form <FONT STYLE="white-space:nowrap">8-K,</FONT> which is incorporated herein by reference. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Upcoming Director Retirement </U></I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February&nbsp;14,
2018, Lawrence R. Codey and William J. Marino informed the Company and the Board that they intend to retire as of the 2018 Annual Meeting of Stockholders, and accordingly will not stand for <FONT STYLE="white-space:nowrap">re-election</FONT> as
directors at such meeting. The Company plans to hold its 2018 Annual Meeting of Stockholders on May&nbsp;17, 2018. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The decision to retire by Messrs.
Codey and Marino was not due to any disagreements with the Company on any matter relating to the Company&#146;s operations, policies or practices. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01 Financial Statements and Exhibits. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(d) Exhibits. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD WIDTH="86%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:55.75pt; display:inline; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Exhibit&nbsp;Number</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:39.50pt; display:inline; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Sealed Air Corporation Executive Severance Plan, as amended and restated, effective February&nbsp;13, 2018.</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT&nbsp;INDEX </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD WIDTH="86%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:55.75pt; display:inline; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Exhibit&nbsp;Number</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:39.50pt; display:inline; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d326219dex101.htm">Sealed Air Corporation Executive Severance Plan, as amended and restated, effective February&nbsp;13, 2018. </A></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned, hereunto duly authorized. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">SEALED AIR CORPORATION</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Thomas C. Lagaly</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Thomas C. Lagaly</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Vice President, Acting General Counsel&nbsp;&amp; Secretary</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Dated: February&nbsp;20, 2018 </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d326219dex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SEALED AIR CORPORATION EXECUTIVE SEVERANCE PLAN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 1 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Purpose
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Sealed Air Corporation (the &#147;<B>Plan Sponsor</B>&#148;), on behalf of each participating entity included as the Company, hereby
adopts the Sealed Air Corporation Executive Severance Plan (the &#147;<B>Plan</B>&#148;), effective as of the Effective Date. The Plan is established to provide financial assistance to a Participant whose Employment is terminated due to an
Involuntary Termination of Employment occurring on or after the Effective Date. This document is an amendment and restatement of the Plan effective as of February&nbsp;13, 2018 to reflect a change in design on the calculation of severance benefits.
The design changes in this amendment and restatement apply only to an Involuntary Termination of Employment that occurs after such date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Plan, as a &#147;severance pay arrangement&#148; within the meaning of Section&nbsp;3(2)(B)(i) of the Employee Retirement Income Security
Act of 1974, as amended (&#147;<B>ERISA</B>&#148;), is intended to meet all applicable requirements of ERISA and regulations thereunder, as in effect from time to time. The Plan is intended to be and shall be administered and maintained as an
unfunded &#147;welfare plan&#148; under Section&nbsp;3(1) of ERISA, and is intended to be exempt from the reporting and disclosure requirements of ERISA as an unfunded welfare plan for a select group of management or highly compensated employees.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The establishment of the Plan shall not affect or modify the rights of a Participant with respect to severance benefits under any
individual employment agreement or change in control agreement with a Participant (exclusive of termination treatment provisions in equity awards) (each, an &#147;<B>Agreement</B>&#148;). In no event may a Participant receive severance benefits
under both this Plan and an Agreement, or any other arrangement with the Company, except to the extent the Company expressly determines otherwise. If a Participant has an Agreement and such Agreement provides for the payment of severance benefits in
connection with a Participant&#146;s Involuntary Termination of Employment, to the extent the events giving rise to the Involuntary Termination of Employment are covered by such Agreement, such Agreement and not this Plan shall govern the payment of
severance benefits relating to such Involuntary Termination of Employment. In addition, the establishment of this Plan does not nullify or replace any <FONT STYLE="white-space:nowrap">non-competition,</FONT> release of claims or other agreements
between the Company and any of its employees or former employees entered into in connection with any such Agreements. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 2
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Definitions </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.1
<U>Affiliate</U>. All members of any controlled group within the meaning of Code Sections 414(b) and (c)&nbsp;that includes the Plan Sponsor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.2 <U>Base Salary</U>. A Participant&#146;s annualized base pay at the rate in effect immediately before his or her Separation Date, and in
all cases excluding bonuses, commissions, overtime or any other form of variable or extra compensation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.3 <U>Board</U>. The Board of
Directors of the Plan Sponsor. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.4 <U>Cause</U>. Any conduct of a Participant contained in the following list: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the Participant engaging in fraud, embezzlement, or theft in connection with the Participant&#146;s duties or in the course of his or her
employment; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) an act or omission by the Participant that is willfully or grossly negligent, contrary to the Company&#146;s established
policies or practices, or materially harmful to the Company&#146;s business or reputation or to the business of the Company&#146;s customers or suppliers as it relates to the Company; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) the Participant&#146;s plea of no contest to, or conviction of, a felony; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) the Participant&#146;s substantial failure to perform his or her duties after receiving notice of the failure from the Plan Administrator,
which failure has not been cured within thirty (30)&nbsp;days after the Participant receives notice of the failure; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) the
Participant&#146;s breach of a restrictive covenant under Section&nbsp;4.6. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.5 <U>Change in Control</U>. The occurrence of any of the
following events: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Any person becomes the beneficial owner (within the meaning of Rule <FONT STYLE="white-space:nowrap">13d-3</FONT>
promulgated under the Securities Exchange Act of 1934) of 30% or more of the outstanding voting securities of the Plan Sponsor entitled to vote generally in the election of directors (&#147;<B>Outstanding Voting Securities</B>&#148;);
<I>provided</I>, <I>however</I>, that, for purposes of this definition, the following acquisitions shall not constitute a Change in Control: (i)&nbsp;any acquisition directly from the Plan Sponsor, (ii)&nbsp;any acquisition by the Plan Sponsor,
(iii)&nbsp;any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Plan Sponsor, or (iv)&nbsp;any acquisition pursuant to a reorganization, merger, statutory share exchange, consolidation, sale of all or
substantially all of the Plan Sponsor&#146;s assets, or the acquisition of assets or stock of another entity by the Plan Sponsor, or other corporate transaction involving the Plan Sponsor or any of its subsidiaries (a &#147;<B>Corporate
Transaction</B>&#148;) that complies with subsections (b), (c) and (d)&nbsp;of this definition; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Continuing Directors cease for any
reason to constitute at least a majority of the Board; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Consummation of a Corporate Transaction unless, following such Corporate
Transaction, (i)&nbsp;all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding Voting Securities immediately prior to such Corporate Transaction beneficially own, directly or indirectly, more than
50% of the then-outstanding combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors (or, for a <FONT STYLE="white-space:nowrap">non-corporate</FONT> entity, equivalent governing body)
of the entity resulting from such Corporate Transaction (including, without limitation, an entity that, as a result of such transaction, owns the Plan Sponsor or all or substantially all of the Plan Sponsor&#146;s assets either directly or through
one or more subsidiaries) in substantially the same proportions as their ownership of the Outstanding Voting Securities immediately prior to such Corporate Transaction, (ii)&nbsp;no person (excluding any corporation resulting from such Corporate
Transaction or any employee benefit plan (or related trust) of the Plan Sponsor or such corporation resulting </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
from such Corporate Transaction) beneficially owns, directly or indirectly, 30% or more of the combined voting power of the then-outstanding voting securities of such entity, except to the extent
that such ownership existed prior to the Corporate Transaction, and (iii)&nbsp;at least a majority of the members of the board of directors (or, for a <FONT STYLE="white-space:nowrap">non-corporate</FONT> entity, equivalent governing body) of the
entity resulting from such Corporate Transaction were Continuing Directors at the time of the execution of the initial agreement or of the action of the Board providing for such Corporate Transaction; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The stockholders of the Plan Sponsor give approval of a complete liquidation or dissolution of the Plan Sponsor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, if it is determined that any amounts payable hereunder are subject to the requirements of Section&nbsp;409A of the Code and
payable upon a Change in Control, the Plan Sponsor will not be deemed to have undergone a Change in Control unless the Plan Sponsor is deemed to have undergone a &#147;change in control event&#148; pursuant to the definition of such term in
Section&nbsp;409A of the Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.6 <U>COBRA</U>. The Consolidated Omnibus Budget Reconciliation Act of 1985, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.7 <U>Code</U>. The Internal Revenue Code of 1986, as amended from time to time (including any valid and binding governmental regulations,
court decisions and other regulatory and judicial authority issued or rendered thereunder). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.8 <U>Company</U>. The Plan Sponsor, its
successor and assigns, and any of its United States Affiliates that, with the consent of the Plan Sponsor, adopt the Plan for the benefit of their employees. The Plan Sponsor may act on behalf of any such adopting Affiliate for purposes of this
Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.9 <U>Continuing Director</U>. A director of the Plan Sponsor who is serving as such on the Effective Date and any person who is
approved as a nominee or elected to the Board by a majority of the Continuing Directors who are then members of the Board, but excluding, for this purpose, any such person whose initial assumption of office occurs as a result of an actual or
threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consent by or on behalf of a person other than the Board. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.10 <U>Disabled or Disability</U>. An incapacity that has resulted in qualification of a Participant to receive long-term disability benefits
under The Sealed Air Long Term Disability Insurance Plan. If the Participant is not covered by The Sealed Air Long Term Disability Insurance Plan, the Participant is considered to have a Disability if the Participant&#146;s incapacity results in a
determination by the Social Security Administration that the Participant is entitled to a Social Security disability benefit. The Plan Administrator may establish uniform and nondiscriminatory time limits for such determination by the Social
Security Administration and for notice of such determination to be provided to the Plan Administrator in order for such incapacity to be a Disability under the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.11 <U>Effective Date</U>. February&nbsp;5, 2014. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.12 <U>Employment</U>. A Participant&#146;s employment with the Company, beginning on the
Participant&#146;s original date of hire and ending on the Participant&#146;s Separation Date. To the extent required by any applicable purchase agreement or as otherwise determined by the Plan Sponsor, a Participant&#146;s period of Employment also
includes, if applicable, time with any entity prior to the entity being acquired by or merging with the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.13 <U>Good Reason</U>.
&#147;Good Reason&#148; as defined under a Participant&#146;s employment agreement with the Company, in the event one exists, or otherwise a Participant&#146;s termination of Employment following the initial existence of one or more of the following
conditions without the consent of the Participant: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) a material diminution in the Participant&#146;s base compensation; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) a material diminution in the Participant&#146;s authority, duties, or responsibilities; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) a material change in the geographic location at which the Participant must perform the services; <I>provided</I>, <I>however</I>, that a
relocation of less than fifty (50)&nbsp;miles from the Participant&#146;s then present location will not be considered a material change in geographic location. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For a termination of Employment to constitute a termination for Good Reason, the Participant must provide notice to the Company of the existence of the
condition described above within thirty (30)&nbsp;days of the initial existence of the condition, upon the notice of which the Company has thirty (30)&nbsp;days to remedy the condition. If the condition is not remedied by the Company within thirty
(30)&nbsp;days of the notice, the Participant must terminate his or her employment within thirty (30)&nbsp;days after the failure to remedy the condition. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.14 <U>Involuntary Termination of Employment</U>. A Participant&#146;s termination of Employment, other than by reason of death or
Disability, (a)&nbsp;by the Company without Cause, or (b)&nbsp;by the Participant for Good Reason. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.15 <U>Participant</U>. Any
individual selected by the Plan Administrator to participate in the Plan pursuant to Article 3. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.16 <U>Plan</U>. The Sealed Air
Corporation Executive Severance Plan, as stated herein and as may be amended from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.17 <U>Plan Administrator</U>. The
Organization and Compensation Committee of the Board or any committee or other person or persons designated by the Board to administer the Plan pursuant to Section&nbsp;5.2, which shall control and manage the operation and administrative of the Plan
as the named fiduciary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.18 <U>Plan Year</U>. The calendar year. The first Plan Year shall begin on the Effective Date and end on
December&nbsp;31, 2014. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.19 <U>Separation Date</U>. A Participant&#146;s last day of active Employment (i.e., the last
day the Participant works for the Company) due to an Involuntary Termination of Employment which entitles the Participant to benefits from the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.20 <U>Severance Benefits</U>. Benefits paid to a Participant pursuant to Article 4. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.21 <U>Total Cash Compensation</U>. The sum of a Participant&#146;s (a)&nbsp;Base Salary and (b)&nbsp;target annual cash incentive award for
the Company&#146;s fiscal year in which the Separation Date occurs (determined without regard to any Stock Leverage Opportunity election by the Participant). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.22 <U>Welfare Benefits</U>. The basic life insurance, accidental death and dismemberment insurance, long- and short-term disability
insurance, and medical, dental, and vision insurance benefits provided by the Company to a given Participant (and any eligible dependents). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.23 <U>Year of Service</U>. A Participant&#146;s aggregate period of Employment divided into whole years, subject to the following rules:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Any absence of Employment for a period of 12 or more successive months shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Any remaining partial period of Employment of at least six months shall be rounded up to be considered as a full Year of Service; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Any remaining partial period of Employment of less than six months shall not be included when calculating Years of Service; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The Years of Service of any Participant who previously was eligible for severance benefits under the Plan or any other plan, program,
policy or arrangement sponsored by the Company and is subsequently rehired by the Company shall be canceled in an amount determined by the Company as appropriate to avoid the duplication of the payment of Severance Benefits related to the period of
Employment prior to rehire for which severance benefits were earlier paid. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 3 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Eligibility for Benefits Guidelines </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.1 <U>Participation Requirements</U>. The Plan Administrator may designate, in its sole discretion and from time to time, one or more
employees of the Company to participate in the Plan as Participants. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.2 <U>Notice of Participation</U>. The Plan Administrator shall
provide each Participant selected to participate in the Plan with a letter notifying the Participant of his or her participation in the Plan and the potential Severance Benefits payable under the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.3 <U>Eligibility for Severance Benefits</U>. Under these guidelines, a Participant shall be eligible for Severance Benefits, as determined
pursuant to Article 4, if the Participant meets all of the following conditions: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) incurs an Involuntary Termination of Employment; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) executes and returns to the Plan Administrator a general written release and waiver of claims, in such form as determined by the Plan
Administrator from time to time, within 21 days (or, to the extent required by applicable law, 45 days) after the Participant&#146;s Separation Date and does not revoke such waiver of claims within 7 days after its execution; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) is in compliance with the covenants set forth in Section&nbsp;4.6 on the Separation Date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) returns to the Company any property of the Company that has come into the Participant&#146;s possession; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) performs all transition and other matters required of the Participant by the Company following his or her Involuntary Termination of
Employment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.4 <U>Ineligibility for Benefits</U>. Under these guidelines, a Participant shall not be eligible to receive Severance
Benefits pursuant to Article 4 in the event of any of the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Participant&#146;s termination of Employment for any reason
other an Involuntary Termination of Employment (for example, termination of Employment by the Company for Cause, by the Participant without Good Reason, or due to the Participant&#146;s death or Disability); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The amendment or termination of the Plan to eliminate a Participant&#146;s eligibility to receive Severance Benefits prior to his or her
Separation Date, in accordance with Section&nbsp;6.1. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 4 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Severance Benefits Guidelines </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.1 <U>Severance Benefits</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Involuntary Termination of Employment Not in Connection with a Change in Control</U>. Upon a Participant&#146;s Involuntary Termination
of Employment not occurring upon or within two years following a Change in Control, the Participant shall be entitled to receive: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i)
cash severance equal to one year of Total Cash Compensation, payable in installments over twelve months following the Separation Date in accordance with Section&nbsp;4.2(a); and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) for a period ending upon the earlier of (x)&nbsp;twelve months following the Separation Date and (y)&nbsp;the date on which the
Participant becomes entitled to comparable Welfare Benefits from another employer: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(A) subject to the Participant&#146;s proper election
to continue healthcare coverage under COBRA, payment by the Company of the Participant&#146;s COBRA premiums, less the amount that the Participant would be required to contribute for such healthcare coverage if the Participant were an active
employee; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(B) continued coverage under the Company&#146;s other Welfare Benefit plans, to the extent that
such continued coverage is permitted by the terms of the applicable plan (including any related insurance contract) and applicable law; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(C) with respect to any Welfare Benefits that cannot be provided under subsection (B)&nbsp;pursuant to the terms of the applicable plan
(including any related insurance contract) or applicable law, cash payments equal to the aggregate premiums that the Company would have paid for the Participant for such Welfare Benefits during the period. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Involuntary Termination of Employment in Connection with a Change in Control</U>. Upon a Participant&#146;s Involuntary Termination of
Employment occurring upon or within two years following a Change in Control, the Participant shall be entitled to receive: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) an amount
equal to two years of Total Cash Compensation; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) for a period ending upon the earlier of (x) 18 months following the Separation Date
and (y)&nbsp;the date on which the Participant becomes entitled to comparable Welfare Benefits from another employer: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(A) subject to the
Participant&#146;s proper election to continue healthcare coverage under COBRA, payment by the Company of the Participant&#146;s COBRA premiums, less the amount that the Participant would be required to contribute for such healthcare coverage if the
Participant were an active employee; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(B) continued coverage under the Company&#146;s other Welfare Benefit plans, to the extent that such
continued coverage is permitted by the terms of the applicable plan (including any related insurance contract) and applicable law; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(C) with respect to any Welfare Benefits that cannot be provided under subsection (B)&nbsp;pursuant to the terms of the applicable plan
(including any related insurance contract) or applicable law, cash payments equal to the aggregate premiums that the Company would have paid for the Participant for such Welfare Benefits during the period; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) full vesting of all outstanding equity compensation awards. In that regard, for any unvested performance-based award, the target payout
opportunities attainable under such award shall be deemed to have been fully earned as of the Separation Date based upon the greater of: (A)&nbsp;an assumed achievement of all relevant performance goals at the &#147;target&#148; level, or
(B)&nbsp;the actual level of achievement of all relevant performance goals against target as of the Company&#146;s fiscal quarter end preceding the Change in Control. The post-employment exercise period of any outstanding stock option or similar
award shall be as provided under the applicable award agreement. The provisions of this Section&nbsp;4.1(b)(iii) shall apply only to the extent more favorable to the Participant than under the applicable award agreement and only to the extent
permitted by the applicable stock plan. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.2 <U>Commencement of Severance Benefits</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Severance Benefits payable to a Participant under Section&nbsp;4.1(a) shall be paid out in installments in accordance with the
Company&#146;s payroll practices over the applicable payment periods described in Section&nbsp;4.1(a)(i) and (a)(ii)(C), beginning on the first regularly scheduled payroll date occurring on or after the 60th day following the Separation Date (the
&#147;<B>First Payroll Date</B>&#148;), and any amounts that would otherwise have been paid prior to the First Payroll Date shall be paid on the First Payroll Date. Solely for purposes of Section&nbsp;409A of the Code, each installment payment is
considered a separate payment. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The Severance Benefits payable to a Participant under Section&nbsp;4.1(b)(i) and (b)(ii)(C) shall be
paid out in a lump sum cash payment on the first regularly scheduled payroll date occurring on or after the 60th day following the Separation Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.3 <U>Payment of Severance Benefits Upon Death of Participant</U>. If a Participant dies after Severance Benefits become payable under the
Plan but prior to the date payment of Severance Benefits is completed, the actuarial equivalent present value of the Severance Benefits remaining to be paid, as determined solely by the Plan Administrator, shall be paid in a single lump sum no later
than March&nbsp;15 following the calendar year in which the Participant&#146;s death occurs to the Participant&#146;s legal surviving spouse, or if none, to the Participant&#146;s estate. Notwithstanding any provision of the Plan to the contrary, no
Severance Benefits shall be paid following the death of the Participant unless the Company receives any release, agreement, waiver or other document required to be provided by the Participant&#146;s surviving spouse or estate, as applicable, as a
condition of receipt of Severance Benefits within the time frame required under the applicable release, agreement, waiver or other document but no later than 60 days following the Participant&#146;s death, to the extent required by the Plan
Administrator. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.4 <U>Cessation of Benefits</U>. Payment of Severance Benefits under the Plan shall cease immediately: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Upon discovery by the Company that the Participant, while working as an employee of the Company, engaged in any activity which would have
constituted Cause; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Upon discovery by the Company that the Participant has violated confidentiality,
<FONT STYLE="white-space:nowrap">non-competition,</FONT> <FONT STYLE="white-space:nowrap">non-solicitation</FONT> or other covenants to which the Participant may be subject under Section&nbsp;4.6. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.5 <U>Repayment of Benefits</U>. The Company reserves the right to recover Severance Benefits in the event a Participant violates any
covenant to which he or she is subject under Section&nbsp;4.6 or commits an action or conduct that constitutes Cause. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.6 <U>Restrictive
Covenants</U>. To be eligible to receive Severance Benefits, a Participant must enter into standard Company agreements regarding protection of confidential information and ownership of trade secrets and inventions. In addition to any covenants set
forth in such standard Company agreements, in consideration for participation in the Plan, the covenants set forth on <U>Exhibit A</U> shall apply to each Participant, even if more restrictive than the covenants contained in such standard Company
agreements. In order to participate in the Plan, the Company may require a Participant to acknowledge in writing that he or she is subject to the restrictive covenants set forth on <U>Exhibit A</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 5 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Plan Administration </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.1
<U>Plan Administrator&#146;s Authority</U>. The Plan Administrator shall have full and complete authority to enforce the Plan in accordance with its terms and shall have all powers necessary to accomplish that purpose, including, but not limited to,
the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) To apply and interpret the Plan in its absolute discretion, including the authority to construe disputed provisions;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) To determine all questions arising in its administration, including those related to the eligibility of persons to become Participants
and eligibility for Severance Benefits, and the rights of Participants; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) To compute and certify the amount of Severance Benefits
payable to Participants; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) To authorize all disbursements in accordance with the provisions of the Plan; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) To employ and reasonably compensate accountants, attorneys and other persons to render advice or perform services for the Plan as it deems
necessary; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) To make available to Participants upon request, for examination during business hours, such records as pertain exclusively
to the examining Participant; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) To appoint an agent for service of legal process. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All decisions of the Plan Administrator based on the Plan and documents presented to it shall be final and binding upon all persons. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.2 <U>Appointment of Separate Administrator</U>. The Plan Sponsor may appoint a separate Plan Administrator which shall be an officer of the
Plan Sponsor or a committee consisting of at least two persons. Members of any such committee may resign by written notice to the Plan Sponsor and the Plan Sponsor may appoint or remove members of the committee. A Plan Administrator consisting of
more than one person shall act by a majority of its members at the time in office and may authorize any one or more of its members to execute any document or documents on behalf of the Plan Administrator. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.3 <U>Claims for Benefits</U>. Generally, an obligation of the Plan to provide Severance Benefits to a Participant arises only when a written
offer of Severance Benefits has been communicated by the Plan Administrator to the Participant. A Participant not receiving Severance Benefits who believes that he is eligible for such benefits, or a Participant disputing the amount of Severance
Benefits, or any such Participant&#146;s or Participant&#146;s authorized representative (the &#147;<B>Claimant</B>&#148;) may request in writing that his claim be reviewed by the Plan </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Administrator. All such claims for benefits must be submitted to the Plan Administrator at the address of the Plan Sponsor&#146;s corporate headquarters within 60 days after the
Participant&#146;s termination of employment. The review of all claims for benefits shall be governed by the following rules: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(a) <U>Time
Limits on Decision</U>. Unless special circumstances exist, a Claimant who has filed a claim shall be informed of the decision on the claim within 90 days of the Plan Administrator&#146;s receipt of the written claim. This period may be extended by
an additional 90 days if special circumstances require an extension of time, provided the Participant is notified of the extension within the initial <FONT STYLE="white-space:nowrap">90-day</FONT> period. The extension notice shall indicate: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) The special circumstances requiring the extension of time; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) The date, no later than 180 days after receipt of the written claim, by which the Claimant can expect to receive a decision. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(b) <U>Content of Denial Notice</U>. If a claim for benefits is partially or wholly denied, the Claimant will receive a written notice that:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) States the specific reason or reasons for the denial; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) Refers to the specific Plan provisions on which the denial is based; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) Describes and explains the need for any additional material or information that the Claimant must supply in order to perfect the claim;
and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) Describes the Plan&#146;s review procedures and the time limits applicable to such procedures, including a statement of the
Claimant&#146;s right to bring a civil action under Section&nbsp;502(a) of ERISA following an adverse benefit determination on review. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.4 <U>Appeal of Denied Claims</U>. If the Claimant&#146;s claim is denied and he or she wants to submit a request for a review of the denied
claim, the following rules apply: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Review of Denied Claim</U>. If a Claimant wants his or her denied claim to be reconsidered, the
Claimant must send a written request for a review of the claim denial to the Plan Administrator no later than 60 days after the date on which he or she receives written notification of the denial. The Claimant may include any written comments,
documents, records or other information relating to the claim for benefits. The Claimant shall be provided, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relating to the claim for
benefits. The Plan Administrator&#146;s review shall take into account all comments, documents, records and other information submitted by the Claimant relating to the claim, without regard to whether such information was submitted or considered in
the initial benefit determination. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Decision on Review</U>. The Plan Administrator shall review the denied claim and provide a
written decision within 60 days of the date the Plan Administrator receives the Claimant&#146;s written request for review. This period may be extended by an additional 60 days if special circumstances require an extension of time, provided the
Participant is notified of the extension within the initial <FONT STYLE="white-space:nowrap">60-day</FONT> period. The extension notice shall indicate: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) The special circumstances requiring the extension of time; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) The date, no later than 120 days after receipt of the written request for review, by which the Claimant can expect to receive a decision.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Content of Denial Notice</U>. If a claim for benefits is partially or wholly denied on appeal, the Claimant will receive a written
notice that: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) States the specific reason or reasons for denial; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) Refers to the specific Plan provisions on which the denial is based; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) Includes a statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all
documents, records and other information relevant to the claim; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) Includes a statement of the right to bring a civil action under
Section&nbsp;502(a) of ERISA. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.5 <U>Limitations on Legal Actions; Dispute Resolution</U>. Claimants must follow the claims procedures
described in this Article 5 before taking action in any other forum regarding a claim for benefits under the Plan. Furthermore, any such action initiated by a Claimant under the Plan must be brought by the Claimant within one year of a final
determination on the claim for benefits under these claims procedures, or the Claimant&#146;s benefit claim will be deemed permanently waived and abandoned, and the Claimant will be precluded from reasserting it. Further, after following the claims
procedures described in this Article 5, except with respect to enforcement of any covenants in connection with Section&nbsp;4.6, the following provisions apply to any further disputes that may arise regarding this Plan: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) In the event of any dispute, claim, question or disagreement arising out of or relating to this Plan, the parties shall use their best
efforts to settle such dispute, claim, question or disagreement. To this effect, they shall consult and negotiate with each other, in good faith, and, recognizing their mutual interests, attempt to reach a just and equitable resolution satisfactory
to both parties. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) If the parties do not reach such a resolution within a period of 30 days, then any such unresolved dispute or claim,
upon notice by any party to the other, shall be submitted to and finally settled by arbitration in accordance with the Commercial Arbitration Rules (the &#147;<B>Rules</B>&#148;) of the AAA in effect at the time demand for arbitration is made by any
such party. The parties shall mutually agree upon a single arbitrator within 30 days of such demand. In the event that the parties are unable to so agree within such 30 day period, then within the following 30 day period, one arbitrator shall be
named by each party. A third arbitrator shall be named by the two arbitrators so chosen within ten 10 days after the appointment of the first two arbitrators. In the event that the third arbitrator is not agreed upon, he or she shall be named by the
AAA. Arbitration shall occur in the State of North Carolina or such other location as may be mutually agreed to by the parties. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The award made by all or a majority of the panel of arbitrators shall be final and binding,
and judgment may be entered based upon such award in any court of law having competent jurisdiction. The award is subject to confirmation, modification, correction or vacation only as explicitly provided in Title 9 of the United States Code. The
parties acknowledge that this Plan evidences a transaction involving interstate commerce. The United States Arbitration Act and the Rules shall govern the interpretation, enforcement, and proceedings pursuant to this Section&nbsp;5.5. Any
provisional remedy which would be available from a court of law shall be available from the arbitrators to the parties to this Plan pending arbitration. Either party may make an application to the arbitrators seeking injunctive relief to maintain
the status quo, or may seek from a court of competent jurisdiction any interim or provisional relief that may be necessary to protect the rights and property of that party, until such times as the arbitration award is rendered or the controversy
otherwise resolved. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) To the full extent permitted by law and upon presentation of appropriate documentation, all reasonable legal fees
and expenses incurred by a Participant as a result of any dispute under this Section&nbsp;5.5 involving the validity or enforceability of, or liability under, any provision of this Plan (including as a result of any dispute involving the amount of
any payment or other benefit due pursuant to this Plan) shall be paid by the Company if the Company unreasonably or maliciously contested the validity or enforceability of any provision of this Plan. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) By agreeing to binding arbitration, a Participant must waive his or her right to a jury trial. The claims covered by this Section&nbsp;5.5
include any statutory claims regarding a Participant&#146;s Employment or the termination of his or her Employment, including without limitation claims regarding workplace discrimination. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 6 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Plan
Amendment and Termination </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.1 <U>Power to Amend and Terminate</U>. The Plan Sponsor may at any time terminate or amend the Plan in
its sole discretion with respect to any or all Participants and Participants for any reason, including altering, reducing or eliminating benefits to be paid to Participants who have not yet experienced a Separation Date; <I>provided</I>,
<I>however</I>, that any amendment or termination that eliminates potential Severance Benefits for a Participant shall not be effective until one year after notice is provided to the Participant. The provisions of the Plan as in effect at the time
of a Participant&#146;s Separation Date shall control any Plan benefits paid to that Participant, unless modified by the Plan Sponsor or otherwise specified in the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.2 <U>Successor Employer</U>. Any successor to all or any portion of the business of the Plan Sponsor may, with the consent of the Plan
Sponsor, continue the Plan. Such successor shall succeed to all the rights, powers, and duties of the Plan Sponsor. The Employment of any Participant who continues in the employ of the successor shall not be deemed to have been terminated or severed
for purposes of this Plan. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 7 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Miscellaneous Provisions </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.1 <U>Section 280G</U>. Notwithstanding any other provision of this Plan or any other plan, arrangement or agreement to the contrary, if any
of the payments or benefits provided or to be provided by the Company or its Affiliates to a Participant or for a Participant&#146;s benefit pursuant to the terms of this Plan or otherwise (&#147;<B>Covered Payments</B>&#148;) constitute
&#147;parachute payments&#148; within the meaning of Section&nbsp;280G of the Code and would, but for this Section&nbsp;7.1 be subject to the excise tax imposed under Section&nbsp;4999 of the Code (or any successor provision thereto) or any similar
tax imposed by state or local law or any interest or penalties with respect to such taxes (collectively, the &#147;<B>Excise Tax</B>&#148;), then the Covered Payments shall be payable either (i)&nbsp;in full or (ii)&nbsp;reduced to the minimum
extent necessary to ensure that no portion of the Covered Payments is subject to the Excise Tax, whichever of the foregoing (i)&nbsp;or (ii) results in the Participant&#146;s receipt on an <FONT STYLE="white-space:nowrap">after-tax</FONT> basis of
the greatest amount of benefits after taking into account the applicable federal, state, local and foreign income, employment and excise taxes (including the Excise Tax). Any determination required under this Section&nbsp;7.1 shall be made by the
Company in its sole discretion. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.2 <U>Section 409A</U>. It is intended that the payments and benefits set forth in Article 4 are, to the
greatest extent possible, exempt from the application of Code Section&nbsp;409A and the Plan shall be construed and interpreted accordingly. However, if the Company (or, if applicable, the successor entity thereto) determines that all or a portion
of the payments and benefits provided under the Plan constitute &#147;deferred compensation&#148; under Section&nbsp;409A and that the Participant is a &#147;specified employee&#148; of the Company or any successor entity thereto, as such term is
defined in Section&nbsp;409A(a)(2)(B)(i), then, solely to the extent necessary to avoid the incurrence of the adverse personal tax consequences under Section&nbsp;409A, the timing of the applicable payments shall be delayed until the first payroll
date following the <FONT STYLE="white-space:nowrap">six-month</FONT> anniversary of the Participant&#146;s &#147;separation from service&#148; (as defined under Section&nbsp;409A) and the Company (or the successor entity thereto, as applicable)
shall (A)&nbsp;pay to the Participant a lump sum amount equal to the sum of the payments that the Participant would otherwise have received during such <FONT STYLE="white-space:nowrap">six-month</FONT> period had no such delay been imposed and
(B)&nbsp;commence paying the balance of the payments in accordance with the applicable payment schedule set forth in the Plan. For purposes of Section&nbsp;409A, each installment payment provided under the Plan shall be treated as a separate
payment. To the extent required by Section&nbsp;409A, any payments to be made to a Participant upon his termination of employment shall only be made upon such Participant&#146;s separation from service. The Company makes no representations that the
payments and benefits provided under the Plan comply with Section&nbsp;409A and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Participant on account of
noncompliance with Section&nbsp;409A. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.3 <U>Limitation on Liability</U>. In no event shall the Company, the Plan Administrator or any
officer or director of the Company incur any liability for any act or failure to act with respect to the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.4 <U><FONT
STYLE="white-space:nowrap">Non-Assignment</FONT> of Benefits</U>. Benefits paid under the Plan are for the sole use of Plan Participants. Except as required by law, benefits provided under the Plan cannot be assigned, transferred or pledged to
anyone as collateral for a debt or other obligation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.5 <U>Construction</U>. Words used in the masculine gender shall include the feminine and words
used in the singular shall include the plural, as appropriate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.6 <U>Conflict with Applicable Law</U>. If any provisions of ERISA or
other applicable law render any provision of this Plan unenforceable, such provision shall be of no force and effect only to the minimum extent required by such law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.7 <U>Contract of Employment</U>. Nothing contained in this Plan shall be construed to constitute a contract of employment between the
Company and any employee or impose on the Company an obligation to retain any Participant as an employee, to continue any Participant&#146;s current employment status or to change any employment policies of the Company, nor shall any provision
hereof restrict the right of the Company to discharge any of its employees or restrict the right of any such employee to terminate his or her employment with the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.8 <U>Source of Benefits</U>. The Plan is intended to be an unfunded welfare benefit plan for purposes of ERISA and a severance pay
arrangement within the meaning of Section&nbsp;3(2)(B)(i) of ERISA. All benefits payable pursuant to the Plan shall be paid or provided by the Company from its general assets. The Plan is not intended to be a pension plan described in
Section&nbsp;3(2)(A) of ERISA. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.9 <U>Withholding</U>. The Company shall have the authority to withhold or cause to have withheld
applicable income and payroll taxes from any payments made under the Plan to the extent required by law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.10 <U>Governing Law</U>. The
Plan will be construed and enforced according to the laws of the State of North Carolina (other than its laws respecting choice of law) to the extent, if any, not preempted by ERISA. </P>
<P STYLE="font-size:24pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT A </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Restrictive Covenants </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For
purposes of this Exhibit A, &#147;<B>Parent</B>&#148; means an entity which is a holding company of or holds a controlling interest in the Company; &#147;<B>Affiliates</B>&#148; means a subsidiary of the Company or the Parent of the Company or a
company over which the Company or any holding of the Company has control; and the definition of each of the Company, Parent and Affiliates, includes any of their
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">successors-in-interest.</FONT></FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company, Parent and the
Affiliates are part of the global holdings of Sealed Air Corporation, a publicly traded corporation incorporated under the laws of the state of Delaware, U.S.A., the primary purpose of which is to serve as the umbrella entity for the Company. The
Company, Parent and the rest of the Affiliates located throughout the world are engaged in the development, research, manufacture, distribution and sale of food and beverage, protective, shrink and medical applications packaging; specialty
materials; and cleaning, sanitation and hygiene products in the food and beverage, hospitality, healthcare, retail, food services or building service contractors sectors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Acknowledgements</U>. The Participant acknowledges that the Company is engaged in the highly competitive business of the development,
research, manufacture, distribution, and sale of food and beverage, protective, shrink and medical applications packaging; specialty materials; and cleaning, sanitation and hygiene products in the food and beverage, hospitality, healthcare, retail,
food services or building service contractors sectors, and that the Participant serves in an executive, managerial, research, or sales capacity, and/or other designated position for the Company. Further, the Participant acknowledges that in the
course of the Participant&#146;s employment with the Company, the Participant (i)&nbsp;has been given and will continue to be given access to trade secrets and other Confidential Information (as hereinafter defined); (ii) has participated and will
continue to participate in the development of, execution of, and/or usage of inventions, products, concepts, strategies, methods, or technologies which are related to the Company&#146;s business; (iii)&nbsp;has been given and will continue to be
given specialized training relating to the Company&#146;s products and/or processes; and/or (iv)&nbsp;has been given and will continue to be given access to the Company&#146;s customers and other business relationships. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U><FONT STYLE="white-space:nowrap">Non-Disparagement</FONT></U>. During the Participant&#146;s employment with the Company and thereafter,
the Participant will not make or publish any disparaging or derogatory statements about the Company, its products, parent and any of the Affiliates, together with their past, present and future officers, directors, employees, attorneys and agents.
Disparaging or derogatory statements include, but are not limited to, negative statements regarding the Company&#146;s business or other practices; provide, nothing herein shall prohibit the Participant from providing any information as may be
compelled by law or legal process or may be a protected disclosure under statutory law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.
<U><FONT STYLE="white-space:nowrap">Non-Disclosure</FONT> of Confidential Information</U>. The Participant acknowledges that Confidential Information is a valuable, special, and unique asset of the Company, Parent, and the Affiliates, and agrees to
the following: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Confidential Information Defined</U>. The term &#147;<B>Confidential Information</B>&#148;
includes but is not limited to, any and all of the Company&#146;s Parent&#146;s or Affiliates&#146; trade secrets, confidential and proprietary information and all other information and data of the Company that is not generally known to the public
or other third parties who could derive economic value for its use or disclosure. Confidential Information includes, without limitation, the following: (i)&nbsp;marketing, sales, and advertising information such as lists of actual or potential
customers; customer preference data; marketing and sales techniques, strategies, efforts, and data; merchandising systems and plans; confidential customer information including identification of key purchasing personnel, account status, needs and
ability to pay; business plans; product development and delivery schedules; market research and forecasts; marketing and advertising plans, techniques, and budgets; overall pricing strategies; the specific advertising programs and strategies
utilized, and the success or lack of success of those programs and strategies; (ii)&nbsp;organizational information such as personnel and salary data; merger, acquisition and expansion information; information concerning methods of operation;
divestiture information; and competitive information pertaining to the Company&#146;s distributors; (iii)&nbsp;financial information such as product costs; supplier information; overhead costs; profit margins; banking and financing information; and
pricing policy practices; (iv)&nbsp;technical information such as secret processes or machines, research projects, product specifications, compounds, formulas, improvements, discoveries, developments, designs, inventions, techniques, new products
and training methods; (v)&nbsp;information disclosed to the Participant as part of a training process; and (vi)&nbsp;information of third parties provided to the Participant subject to <FONT STYLE="white-space:nowrap">non-disclosure</FONT>
restrictions for use in the Participant&#146;s business for the Company. Confidential Information also includes any work product created by the Participant in rendering services for the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U><FONT STYLE="white-space:nowrap">Non-Disclosure</FONT> of Confidential Information</U>. During the Participant&#146;s employment with
the Company and thereafter, the Participant will not disclose, transfer, or use (or seek to induce others to disclose, transfer, or use) any Confidential Information for any purpose other than (i)&nbsp;disclosure to authorized employees and agents
of the Company who are bound to maintain the confidentiality of the Confidential Information; and/or (ii)&nbsp;for authorized purposes during the course of the Participant&#146;s employment in furtherance of the Company&#146;s business. the
Participant&#146;s <FONT STYLE="white-space:nowrap">non-disclosure</FONT> obligations shall continue as long as the Confidential Information remains confidential and shall not apply to information that becomes generally known to the public through
no fault or action of the Participant or others who were under <FONT STYLE="white-space:nowrap">non-disclosure</FONT> obligations as to such information. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Protection of Confidential Information</U>. The Participant will notify the Company in writing of any circumstances which may constitute
unauthorized disclosure, loss, transfer, or use of Confidential Information. The Participant will use the Participant&#146;s best efforts to protect Confidential Information from unauthorized disclosure, loss, transfer, or use. The Participant will
implement and abide by all procedures adopted by the Company to prevent unauthorized disclosure, loss, transfer, or use of Confidential Information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <U>Ownership of Confidential Information and Inventions</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Invention Defined</U>. The term &#147;<B>Invention</B>&#148; includes but is not limited to ideas, programs, processes, systems,
machinery, equipment, intellectual property, works of authorship, copyrightable materials, discoveries, and/or improvements of which the Participant </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
conceives alone or in conjunction with others during the Participant&#146;s employment with the Company and/or one (1)&nbsp;year after the Participant&#146;s employment ends which relate to the
Company&#146;s present or future business. An Invention is covered by this Exhibit A regardless of whether (i)&nbsp;the Participant conceived of the Invention in the scope of the Participant&#146;s employment; or (ii)&nbsp;the Invention is
patentable. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Ownership of Confidential Information and Inventions</U>. Confidential Information and Inventions are solely the
property of the Company. The Participant agrees that the Participant does not have any rights, title, or interest in any of the Confidential Information or Inventions. Notwithstanding, the Participant may be recognized as the inventor of an
Invention without retaining any other rights associated therewith. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Disclosure and Assignment of Inventions</U>. The Participant
hereby assigns to the Company all right, title and interest the Participant may have in any Inventions that are developed, made, authored, or conceived by the Participant (whether alone or with others) during the Participant&#146;s employment with
the Company or during such post-employment period described in Section&nbsp;4(a) of this Exhibit A. The Participant agrees to: (i)&nbsp;promptly disclose all such Inventions in writing to the Company; (ii)&nbsp;keep complete and accurate records of
all such Inventions, which records shall be the Company property and shall be retained on the Company premises; and (iii)&nbsp;execute such documents and do such other acts as may be necessary in the opinion of the Company to establish and preserve
the Company&#146;s property rights in all such Inventions. The Participant will, whenever requested to do so by the Company during employment by the Company or thereafter, at expense of the Company, render such reasonable assistance and execute and
assign patent applications, patents, copyrights, copyright registrations and other instruments as the Company shall deem necessary or advisable in order to apply for, obtain and from time to time enforce United States patents or patents in foreign
countries covering any such Inventions and to place in the Company or its nominees, the sole and exclusive right in and to such Inventions, patent applications, patents and copyrights. This section shall not apply to any Invention for which no
equipment, supplies, facility or trade secret information of the Company was used and which was developed entirely on the Participant&#146;s own time, and (1)&nbsp;which does not relate (a)&nbsp;directly to the business of the Company or (b)&nbsp;to
the Company&#146;s actual or demonstrably anticipated research or development, or (2)&nbsp;which does not result from any work performed by the Participant for the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. <U>Return of Confidential Information and Company Property</U>. Immediately upon termination of the Participant&#146;s employment with the
Company, for whatever reason, the Participant shall return to the Company all of the Company&#146;s property relating to the Company&#146;s business, including without limitation all of the Company&#146;s property which is in the possession,
custody, or control of the Participant such as Confidential Information, documents, hard copy files, copies of documents and electronic information/files. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. <U>Obligations to Other Entities or Persons</U>. The Participant warrants that the Participant is not bound by the terms of a
confidentiality agreement or any other legal obligations which would either preclude or limit the Participant from disclosing or using any of the Participant&#146;s ideas, inventions, discoveries or other information or otherwise fulfilling the
Participant&#146;s obligations as an employee to the Company and under any applicable employment contract, if any, and also under this Exhibit A. While employed by the Company, the Participant shall not disclose or use any confidential information
belonging to another entity or other person in the performance of the Participant&#146;s duties and responsibilities to the Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. <U>Conflict of Interest and Duty of Loyalty</U>. During the Participant&#146;s employment with
the Company, the Participant shall not engage, directly or indirectly, in any activity, employment or business venture, whether or not for remuneration, that (i)&nbsp;is competitive with the Company&#146;s business; (ii)&nbsp;deprives or potentially
could deprive the Company of any business opportunity; (ii)&nbsp;conflicts or potentially could conflict with the Company&#146;s business interests; or (iv)&nbsp;is otherwise detrimental to the Company, including but not limited to preparations to
engage in any of the foregoing activities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. <U><FONT STYLE="white-space:nowrap">Non-Competition</FONT> Covenants</U>. The Company and
the Participant acknowledge and agree that the following <FONT STYLE="white-space:nowrap">non-competition</FONT> covenants are reasonable and necessary to protect the legitimate interests of the Company, Parent and Affiliates, including, without
limitation, the protection of Confidential Information, Inventions and goodwill. The Participant agrees to, and covenants to comply with, each of the following separate and divisible restrictions: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Definitions</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(1)
&#147;<B>Competing Product</B>&#148; is defined as (a)&nbsp;any of the following products, services, processes, solutions, equipment, machinery and services: (i)&nbsp;any food and/or beverage packaging product, process, solution, equipment,
machinery or service, including but not limited to fresh food packaging technologies, vacuum shrink, tray lidding, horizontal flow packaging, vertical flow packaging, thermoforming; (ii)&nbsp;any protective packaging product, process, solution,
equipment, machinery, or service, including but not limited to inflatables, protective and cushioned wraps, mailers and shipping bags, foam packaging, corrugated packaging, corrugated packaging, automated packaging systems, paper products, or loose
fill; (iii)&nbsp;any shrink packaging product, process, service, equipment or machinery, including but not limited to performance shrink films, shrink sleeve labels; (iv)&nbsp;any specialty materials product, process, solution, equipment, machinery
or service, including but limited to alternative energy, cold chain solutions, consumer products, automotive, composite processing, vacuum insulation panels, or personal protection; (v)&nbsp;any medical applications packaging product, process,
solution or service, including but not limited to custom thermoformed products, medical films or pharmaceutical films; (vi)&nbsp;any cleaning, sanitation, and hygiene product, process, solution, equipment, machinery or service sold to or applied in
the following sectors: food and beverage, hospitality, healthcare, retail, food services or building service contractors, and such other sectors as the Company may be serving at the time of the Participant&#146;s termination of employment with the
Company; (vii)&nbsp;any other product, process, solution, equipment, machinery, or service, in each case that is similar to (or would serve as a substitute for) and competitive with any of the above described products, processes, solutions,
equipment, machinery, or services; (viii)&nbsp;any other product, process, solution, equipment, machinery, or service, in each case that the Company, Parent and/or Affiliate is researching, developing, manufacturing, distributing, selling and/or
providing at the time of the Participant&#146;s termination of employment with the Company; and/or (ix)&nbsp;any product, process, solution, equipment, machinery, or service that is similar to (or would serve as a substitute for) and competitive
with any product, process, solution, equipment, machinery, or service that the Company, Parent and/or Affiliate is researching, developing, manufacturing, distributing, selling and/or providing at the time of the Participant&#146;s termination
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
of employment with the Company; and (b)&nbsp;which the Participant worked in conjunction with or obtained any trade secret or other Confidential Information about at any time during the two
(2)&nbsp;years immediately preceding the termination of the Participant&#146;s employment with the Company. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(2) &#147;<B>Competing
Organization</B>&#148; is defined as any organization that researches, develops, manufactures, markets, distributes and/or sells one or more Competing Products or has plans to research, develop, manufacture, market, distribute, and/or sell one or
more Competing Products. A Competing Organization is diversified if (a)&nbsp;it controls or is in common control of entities which conduct business in an industry other than food and/or beverage packaging, protective packaging, shrink packaging,
specialty materials, medical applications packaging, or cleaning, sanitation and hygiene products in the food and beverage, hospitality, healthcare, retail, food services or building service contractors industries, or (b)&nbsp;operates multiple
business divisions, units, lines or segments some of which do not involve any Competing Products. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(3) &#147;<B>Prohibited
Capacity</B>&#148; is defined as: (i)&nbsp;the same or similar capacity or function in which the Participant worked for the Company at any time during the last two (2)&nbsp;years of the Participant&#146;s employment; (ii)&nbsp;any executive or
managerial capacity; (iii)&nbsp;any sales or sales management capacity; (iv)&nbsp;any research or research management capacity; and/or (v)&nbsp;any other capacity in which the Participant&#146;s knowledge of Confidential Information and/or
Inventions would provide a competitive advantage to a Competing Organization. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(4) &#147;<B>Restricted Geographic area</B>&#148; is
defined as the Continental United States and all other countries, territories, or states in which the Company is doing business or is selling its products at the time of termination of the Participant&#146;s employment with the Company, and includes
the countries, states, and/or provinces in which the Participant worked for the Company during the two (2)&nbsp;years immediately preceding the termination of the Participant&#146;s employment with the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(5) &#147;<B><FONT STYLE="white-space:nowrap">Non-Competition</FONT> Period</B>&#148; is defined (a)&nbsp;the period that the Participant is
employed by the Company; and (b)&nbsp;a post-employment period of eighteen (18)&nbsp;months after the Participant&#146;s last day of employment with the Company, unless otherwise extended by the Participant&#146;s breach of this Exhibit A. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(6) &#147;<B>Customer</B>&#148; is defined as any distributor, entity or person with respect to whom, as of the termination of the
Participant&#146;s employment with the Company or at any time during the two (2)&nbsp;years prior to such employment termination, the Company sold or provided any products and/or services. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(7) &#147;<B>Active Prospect</B>&#148; is defined as any person or entity that the Participant identified, marketed to, and/or held
discussions with regarding the research, development, manufacture, distribution, and/or sale of any of the Company&#146;s products or services at any time during the last twelve (12)&nbsp;months of the Participant&#146;s employment with the Company,
and/or any person or entity that the Company identified, marketed to, and/or held discussions with regarding the research, development, manufacture, distribution, and/or sale of any Company&#146;s products or services at any time during the last
twelve (12)&nbsp;months of the Participant&#146;s employment with the Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Restrictive Covenants</U>. During the
<FONT STYLE="white-space:nowrap">Non-Competition</FONT> Period, the Participant agrees to be bound by each of the following independent and divisible restrictions: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(1)The Participant will not, within the Restricted Geographic Area, be employed by, work for, consult with, provide services to, or lend
assistance to any Competing Organization in a Prohibited Capacity. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(2) The Participant will not be employed by, work for, consult with,
provide services to, or lend assistance to any Competing Organization in any capacity if it is likely that as part of such capacity, the Participant would inevitably use and/or disclose any of the Company&#146;s trade secrets or other Confidential
Information. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(3) The Participant may be employed by, work for, consult with, provide services to, or lend assistance to any Competing
Organization provided that: (i)&nbsp;the Competing Organization&#146;s business is diversified; (ii)&nbsp;the part of the Competing Organization&#146;s diversified business with which the Participant will be affiliated is not the same part of the
Company&#146;s business with which the Participant was affiliated during the last two (2)&nbsp;years of the Participant&#146;s employment with the Company; (iii)&nbsp;the Participant&#146;s affiliation with the Competing Organization does not
involve any Competing Products; (iv)&nbsp;the Participant provides the Company with a written description of the Participant&#146;s anticipated activities on behalf of the Competing Organization which includes, without limitation, an assurance
satisfactory to the Company that the Participant&#146;s affiliation with the Competing Organization does not constitute a Prohibited Capacity; and (v)&nbsp;the Participant&#146;s affiliation with the Competing Organization would not likely cause the
Participant to inevitably use and/or disclose any of the Company&#146;s trade secrets or other Confidential Information. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(4) The
Participant will not be employed by, work for, consult with, provide services to or lend assistance to any Customers or Active Prospects in the Restricted Geographic Area in a capacity or role that involves any Competing Products and is competitive
with the business of the Company. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(5) The Participant will not provide, sell, market, assist in the provision, selling or marketing of,
or attempt to provide, sell or market any Competing Products to any of the Company&#146;s Customers located in Restricted Geographic Area or otherwise solicit or communicate with any of the Company&#146;s Customers located in the Restricted
Geographic Area for the purpose of selling, marketing or providing, assisting in the provision, selling or marketing of, or attempting to sell, market or provide any Competing Products. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(6) The Participant will not provide, sell, market, attempt to provide, sell or market, or assist any person or entity in the sale or
provision of, any Competing Products to any of the Company&#146;s Customers with respect to whom, at any time during the two (2)&nbsp;years immediately preceding the termination of the Participant&#146;s employment with the Company, the Participant
had any sales or service contact on behalf of the Company, the Participant had any business contact on behalf of the Company, the Participant had any sales or service responsibility (including without limitation any supervisory or managerial
responsibility) on behalf of the Company, or the Participant had access to, or gained knowledge of, any Confidential Information concerning the Company&#146;s business with such customer, or otherwise solicit or communicate with any such customers
for the purposes of selling or providing any Competing Products. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(7) The Participant will not provide, sell, market, attempt to provide, sell or market, or
assist any person or entity in the sale or provision of, any Competing Products to any of the Company&#146;s Active Prospects, or otherwise solicit or communicate with any of the Company&#146;s Active Prospects for the purpose of selling or
providing any Competing Products. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(8) The Participant will not urge, induce or seek to induce any of the Company&#146;s independent
contractors, subcontractors, distributors, brokers, consultants, sales representatives, customers, vendors, suppliers or any other person or entity with whom the Company has or has had a business relationship during the twelve (12)&nbsp;months
immediately preceding the termination of the Participant&#146;s employment with the Company to terminate their relationship with, or representation of, the Company or to cancel, withdraw, reduce, limit or in any manner modify any such person&#146;s
or entity&#146;s business with, or representation of, the Company. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(9) The Participant will not solicit, recruit, hire, employ, engage or
retain, or assist any Competing Organization in the solicitation, recruitment, hiring, employment, engagement or retention of, any of the Company&#146;s distributors, sales representatives, or consultants located in the Restricted Geographic Area,
for any competitive purpose. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(10) The Participant will not employ, engage in personal service or favor (whether or not compensated),
solicit for employment, advise or recommend to any other person or entity that such person or entity employ, or solicit for employment, any individual now or hereafter employed by the Company, or otherwise induce or entice any such employee to leave
his/her employment with the Company to work for, consult with, provide services to, or lend assistance to any Competing Organization. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(11) The Participant agrees that the divisible covenants contained in this Exhibit A prohibit the Participant from engaging in the restricted
activities directly or indirectly, whether on the Participant&#146;s behalf or on behalf of or for the benefit of any other person or entity, including for the Participant&#146;s benefit, and that all of the covenants restrict the Participant from
engaging in activities for a competitive purpose. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(12) The <FONT STYLE="white-space:nowrap">Non-Competition</FONT> Period shall not
expire during any period in which the Participant is in violation of any of the restrictive covenants set forth herein, and all restrictions shall automatically be extended by the period the Participant was in violation of any such restrictions.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. <U>Reasonableness of Terms</U>. The Participant acknowledges and agrees that the restrictive covenants contained in this Exhibit A are
reasonably necessary to protect the Company&#146;s, Parent&#146;s and Affiliates&#146; legitimate interests in Confidential Information, Inventions, and goodwill. Additionally, the Participant acknowledges and agrees that the restrictive covenants
are reasonable in all respects, including, but not limited to, temporal duration, scope of prohibited activities and geographic area. The Participant further acknowledges and agrees that the restrictive covenants set forth in this Exhibit A will not
pose any hardship on the Participant and that the Participant will reasonably be able to earn an equivalent livelihood without violating any provision of this Exhibit A. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. <U>Severability, Modification of Restrictions</U>. The covenants and restrictions in this
Exhibit A are separate and divisible, and to the extent any clause, portion or section of this Exhibit A is determined to be unenforceable or invalid for any reason, the Company and the Participant acknowledge and agree that such unenforceability or
invalidity shall not affect the enforceability or validity of the remainder of this Exhibit A. If any particular covenant, provision or clause of this Exhibit A is determined to be unreasonable or unenforceable for any reason, including, without
limitation, the temporal duration, scope of prohibited activity, and/or geographic area covered by any <FONT STYLE="white-space:nowrap">non-competition,</FONT> <FONT STYLE="white-space:nowrap">non-solicitation,</FONT>
<FONT STYLE="white-space:nowrap">non-disparagement</FONT> or <FONT STYLE="white-space:nowrap">non-disclosure</FONT> covenant, provision or clause, the Company and the Participant acknowledge and agree that such covenant, provision or clause shall
automatically be deemed reformed such that the contested covenant, provision or clause will have the closest effect permitted by applicable law to the original form and shall be given effect and enforced as so reformed to whatever extent would be
reasonable and enforceable under applicable law. The parties agree that any court interpreting the provisions of this Exhibit A shall have the authority, if necessary, to reform any such provision to make it enforceable under applicable law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11. <U>Remedies</U>. The Participant acknowledges that a breach or threatened breach by the Participant of this Exhibit A will give rise to
irreparable injury to the Company and the money damages will not be adequate relief for such injury. Accordingly, the Participant agrees that the Company shall be entitled to obtain injunctive relief, including, but not limited to, temporary
restraining orders, preliminary injunctions and/or permanent injunctions, without having to post any bond or other security, to restrain or prohibit such breach or threatened breach, in addition to any other legal remedies which may be available. In
addition to all other relief to which it shall be entitled, the Company shall be entitled to continue to enforce this Exhibit A and recover from the Participant all litigation costs and attorneys&#146; fees incurred by the Company in any action or
proceeding relating to this Exhibit A in which the Company prevails in any respect, including but not limited to, any action or proceeding in which the Company seeks enforcement of this Exhibit A or seeks relief from the Participant&#146;s violation
of this Exhibit A. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12. <U>Survival of Obligations</U>. The Participant acknowledges and agrees that the Participant&#146;s obligations
under this Exhibit A, including, without limitation, the Participant&#146;s <FONT STYLE="white-space:nowrap">non-disclosure</FONT> and <FONT STYLE="white-space:nowrap">non-competition</FONT> obligations, shall survive the termination of the
Participant&#146;s employment with the Company, whether or not such termination is with or without cause or whether or not it is voluntary or involuntary. The Participant further acknowledges and agrees that: (a)&nbsp;the Participant&#146;s <FONT
STYLE="white-space:nowrap">non-disclosure,</FONT> <FONT STYLE="white-space:nowrap">non-disparagement,</FONT> <FONT STYLE="white-space:nowrap">non-solicitation</FONT> and <FONT STYLE="white-space:nowrap">non-competition</FONT> covenants set forth in
Sections 3 and 8 of this Exhibit A shall be construed as independent covenants and that no breach of any contractual or legal duty by the Company shall be held sufficient to excuse or terminate the Participant&#146;s obligations under Sections 3 and
8 of this Exhibit A or to preclude the Company from obtaining injunctive relief or other remedies for the Participant&#146;s violation or threatened violation of such covenants, and (b)&nbsp;the existence of any claim or cause of actions by the
Participant against the Company, whether predicted on this Exhibit A or otherwise, shall not constitute a defense to the Company enforcement of the Participant&#146;s obligations under Sections 3 and 8 of this Exhibit A. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">13. <U>Governing Law and Choice of Forum</U>. This Exhibit A shall be construed and enforced in
accordance with the laws of the State of North Carolina, notwithstanding any state&#146;s <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">choice-of-law</FONT></FONT> rules to the contrary. The parties hereby submit to the
jurisdiction of the State and Federal Courts in the State of North Carolina and waive any right to challenge or otherwise object to personal jurisdiction or venue, in any action commenced or maintained in such courts. Language translations aside,
the English version shall govern. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">14. <U>Successors and Assigns</U>. The Company shall have the right to assign this Exhibit A, and,
accordingly, this Exhibit A shall inure to the benefit of, and may be enforced by, any and all successors and assigns of the Company, including without limitation by asset assignment, stock sale, merger, consolidation or other corporate
reorganization, and shall be binding on the Participant, the Participant&#146;s executors, administrators, personal representatives or other successors in interest. The services to be provided by the Participant to the Company are personal to the
Participant, and the Participant shall not have the right to assign the Participant&#146;s duties under this Exhibit A. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">15.
<U>Modification</U>. This Exhibit A may not be amended, supplemented, or modified except by a written document signed by both the Participant and a duly authorized officer of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">16. <U>No Waiver</U>. The failure of the Company to insist in any one or more instances upon performance of any of the provisions of this
Exhibit A or to pursue its rights hereunder shall not be construed as a waiver of any such provisions or the relinquishment of any such rights. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">17. <U>Counterparts</U>. This Exhibit A may be executed in counterparts, each of which shall be deemed an original, but both of which when
taken together will constitute one and the same agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">18. <U>Entire Agreement</U>. This Exhibit A constitutes the entire agreement
of the parties with respect to the subjects specifically addressed herein, and supersedes any prior agreements, understandings or representations, oral or written, on the subjects addressed herein. Notwithstanding the foregoing, to the extent the
Participant has an existing <FONT STYLE="white-space:nowrap">non-competition,</FONT> confidentiality, and/or <FONT STYLE="white-space:nowrap">non-solicitation</FONT> agreement in favor of the Company and has breached or violated the terms thereof,
the Company may continue to enforce its rights and remedies under and pursuant to such existing agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Participant&#146;s
signature below indicates that the Participant has read Exhibit A and the Plan in their entirety, the Participant understands what the Participant is signing, and is signing it voluntarily. The Participant agrees that the Company advised the
Participant to consult with an attorney prior to signing this Exhibit A. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" COLSPAN="3">&#147;PARTICIPANT&#148;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3">&#147;COMPANY&#148;</TD></TR></TABLE>
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<TD COLSPAN="3" VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt">&nbsp;</P></TD>
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<TD VALIGN="top">Title:</TD>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt">&nbsp;</P></TD></TR>
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<TD VALIGN="top">Date:</TD>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Date:</TD>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt">&nbsp;</P></TD></TR>
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