<SEC-DOCUMENT>0001104659-23-023554.txt : 20230221
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<ACCEPTANCE-DATETIME>20230221080623
ACCESSION NUMBER:		0001104659-23-023554
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		13
CONFORMED PERIOD OF REPORT:	20230220
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20230221
DATE AS OF CHANGE:		20230221

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Glatfelter Corp
		CENTRAL INDEX KEY:			0000041719
		STANDARD INDUSTRIAL CLASSIFICATION:	PAPER MILLS [2621]
		IRS NUMBER:				230628360
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-03560
		FILM NUMBER:		23645358

	BUSINESS ADDRESS:	
		STREET 1:		4350 CONGRESS STREET
		STREET 2:		SUITE 600
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28209
		BUSINESS PHONE:		866-744-7380

	MAIL ADDRESS:	
		STREET 1:		4350 CONGRESS STREET
		STREET 2:		SUITE 600
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28209

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GLATFELTER P H CO
		DATE OF NAME CHANGE:	19920703
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<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>UNITED STATES</b></p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>WASHINGTON, D.C. 20549</b></p>

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<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>FORM&#160;<span id="xdx_90B_edei--DocumentType_c20230220__20230220_zb1HcLGKgaB1"><ix:nonNumeric contextRef="From2023-02-20to2023-02-20" name="dei:DocumentType">8-K</ix:nonNumeric></span></b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>CURRENT REPORT</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Pursuant to Section&#160;13 or 15(d)</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>of the Securities Exchange Act of 1934</b></p>

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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Date of Report (Date of Earliest Event Reported): February 21, 2023 (<span id="xdx_90D_edei--DocumentPeriodEndDate_c20230220__20230220_zhE9bjufG2de"><ix:nonNumeric contextRef="From2023-02-20to2023-02-20" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate">February 20, 2023</ix:nonNumeric></span>)</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Registrant&#8217;s telephone number, including
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Not Applicable</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Former name or former address, if changed since
last report</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form&#160;8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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    <td style="font-size: 10pt">Pre-commencement communications pursuant to Rule&#160;14d-2(b)&#160;under the Exchange Act (17 CFR 240.14d-2(b))</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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    <td style="font-size: 10pt">Pre-commencement communications pursuant to Rule&#160;13e-4(c)&#160;under the Exchange Act (17 CFR 240.13e-4(c))</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section&#160;12(b)&#160;of the Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Trading</b></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule&#160;405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule&#160;12b-2 of the Securities
Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the registrant
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to Section&#160;13(a)&#160;of the Exchange Act. <span style="font-family: Wingdings">&#168;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Item 1.01 Entry into a Material Definitive Agreement.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On February&#160;20, 2023, Glatfelter Corporation, (&#8220;<b>Parent</b>&#8221;),
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S.&#224; r.l. (&#8220;<b>Borrower</b>&#8221;) and Angelo, Gordon&#160;&amp; Co., L.P. (&#8220;<b>Angelo Gordon</b>&#8221;), as lender.
Pursuant to the terms of the Term Loan Facility Commitment Letter, Angelo Gordon committed to provide a senior secured term loan facility
of &#8364;250,000,000.00 (the &#8220;<b>Term Loan Facility</b>&#8221;), the proceeds of which will be used by Parent and its subsidiaries
(a)&#160;to refinance that certain term loan facility outstanding pursuant to the Fourth Amended and Restated Credit Agreement, dated
as of September&#160;2, 2021 and certain other indebtedness (b)&#160;for working capital and general corporate purposes and (c)&#160;to
pay fees, costs and expenses associated with the transactions contemplated by the Term Loan Facility.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Term Loan Facility, among other things, provides that:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">(i)</td><td>The commitment to provide the Term Loan Facility is subject to certain customary closing conditions, including the execution and delivery
of definitive documentation with respect to the Term Loan Facility;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">(ii)</td><td>The Term Loan Facility will have a six-year term and be guaranteed on a joint and several basis by (i)&#160;Parent and all of its
existing and future domestic subsidiaries organized under the laws of the United States and Canada that provide a guaranty under Parent&#8217;s
amended credit agreement (collectively, the &#8220;<b>Domestic Guarantors</b>&#8221;), (ii)&#160;all existing foreign subsidiaries and
all future foreign subsidiaries that are material subsidiaries of Parent organized under the laws of Germany, Luxembourg, England&#160;&amp;
Wales, Scotland and Northern Ireland, Malta and Switzerland, and (iii)&#160;any other material subsidiary incorporated in a foreign security
jurisdiction (the entities referred to in (ii)&#160;and (iii), the &#8220;<b>Foreign Guarantors</b>&#8221;), in each case subject to customary
exceptions and limitations;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">(iii)</td><td>The collateral for the Term Loan Facility will include, without limitation (but subject to customary exceptions and limitations):
(a)&#160;a first priority security interest in substantially all tangible and intangible assets of the Borrower and the Foreign Guarantors&#894;
(b)&#160;a second priority security interest in substantially all tangible and intangible assets of the Domestic Guarantors&#894; (c)&#160;a
first priority pledge in the equity interests of each present and future, direct or indirect subsidiary of the Parent held by a Foreign
Loan Party and the Borrower&#8217;s direct parent and (d)&#160;a second priority pledge in the equity interests of each present and future,
direct or indirect Subsidiary of the Parent held by a Domestic Guarantor (other than the Borrower&#8217;s direct parent);</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">(iv)</td><td>The Term Loan Facility will be funded with an original issue discount of 2.0% and will bear interest at a fixed rate per annum equal
to 11.25%; provided that, at the Borrower&#8217;s election, from the closing date to the second anniversary of the closing date, 5.00%
of the interest rate may be payable in kind by capitalizing such interest and increasing the outstanding principal amount of the term
loans;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">(v)</td><td>All prepayments on the applicable term loans will be subject to prepayment premiums as follows: (x)&#160;for the first eighteen (18)
months following the closing date, at a customary &#8220;make-whole&#8221; premium, (y)&#160;months 19 to 36, a premium of 5.5%, months
37-48, a premium of 2.75%, and (z)&#160;thereafter, at par; and</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">(vi)</td><td>The Term Loan Facility definitive documentation will have customary prepayment events and financial and negative covenants and other
representations, covenants and events of default based on the existing revolver.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The foregoing description of the Commitment Letter does not purport
to be complete and is qualified in its entirety by reference to the full text of the Commitment Letter, a copy of which is attached hereto
as Exhibit&#160;10.1 and is incorporated herein by reference.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Item 9.01 Financial Statements and Exhibits.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&#160;Exhibits</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following exhibits are filed herewith:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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    <td style="vertical-align: bottom; font-size: 10pt; width: 3%">&#160;</td>
    <td style="vertical-align: top; font-size: 10pt; width: 92%"><a href="tm237385d1_ex10-1.htm" style="-sec-extract: exhibit">Commitment Letter, dated as of February&#160;20, 2023, by and among Glatfelter Corporation, Glatfelter Luxembourg S.&#224; r.l, and Angelo, Gordon&#160;&amp; Co., L.P.</a></td></tr>
  <tr>
    <td style="white-space: nowrap; vertical-align: top; font-size: 10pt">104&#160;</td>
    <td style="vertical-align: bottom; font-size: 10pt">&#160;</td>
    <td style="vertical-align: top; font-size: 10pt">Cover Page Interactive Data File (embedded within the Inline XBRL document).&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SIGNATURES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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    <td>&#160;</td>
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  <tr>
    <td style="vertical-align: top; font-size: 10pt">February&#160;21, 2023</td>
    <td style="white-space: nowrap; vertical-align: top; font-size: 10pt">By:</td>
    <td colspan="2" style="white-space: nowrap; vertical-align: bottom">
    <p style="border-bottom: black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Jill L. Urey</p></td></tr>
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    <td style="white-space: nowrap; vertical-align: bottom; font-size: 10pt">Vice President, Chief Legal&#160;&amp; Compliance Officer&#160;&amp; Corporate Secretary</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Execution Version</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ANGELO,
    GORDON&#8239;&amp; CO., L.P. <BR>
    </B></FONT>245 Park Avenue<BR>
    New York, NY 10167</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">February&#8239;20, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Glatfelter Corporation<BR>
4350 Congress Street, Suite&#8239;600</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Charlotte, NC 28209</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Ramesh Shettigar, Senior Vice President, Chief Financial
Officer and Treasurer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Glatfelter Luxembourg S.&agrave; r.l</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">C/o Glatfelter Corporation<BR>
4350 Congress Street, Suite&#8239;600</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Charlotte, NC 28209</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Ramesh Shettigar, Senior Vice President, Chief Financial
Officer and Treasurer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>COMMITMENT LETTER<BR>
 &euro;250,000,000</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We, Angelo, Gordon&#8239;&amp; Co., L.P. (&ldquo;<B><I>AG</I></B>&rdquo;),
on behalf of certain of its managed funds and accounts, (the &ldquo;<B><I>Commitment Party</I></B>&rdquo;, &ldquo;<B><I>we</I></B>&rdquo;,
 &ldquo;<B><I>our</I></B>&rdquo; or &ldquo;<B><I>us</I></B>&rdquo;), understand that Glatfelter Corporation, a Pennsylvania corporation
(&ldquo;<B><I>Parent</I></B>&rdquo;) and Glatfelter Luxembourg S.&agrave; r.l, a private limited liability company (<I>soci&eacute;t&eacute;
 &agrave; responsabilit&eacute; limit&eacute;e</I>) incorporated and existing under the laws of Luxembourg having its registered office
at 121, avenue de la Fa&iuml;encerie, L-1511 Luxembourg, registered with the Luxembourg trade and companies&rsquo; registry (Registre
de commerce et des soci&eacute;t&eacute;s, Luxembourg) under Section&#8239;B, number 175.961 (the &ldquo;<B><I>Borrower</I></B>&rdquo;,
together with Parent, the &ldquo;<B><I>Company</I></B>&rdquo;, &ldquo;<B><I>you</I></B>&rdquo; or &ldquo;<B><I>your</I></B>&rdquo;),
desires to obtain financing (a)&#8239;in order to refinance that certain term loan facility outstanding pursuant to the Fourth Amended
and Restated Credit Agreement, dated as of September&#8239;2, 2021 (as amended by the First Amendment, dated as of May&#8239;9, 2022,
and as further amended, restated, amended and restated, supplemented or otherwise modified prior to the date hereof, the &ldquo;<B><I>Existing
Credit Agreement</I></B>&rdquo;), among Parent, the Borrower and certain of subsidiaries of Parent identified on the signature pages&#8239;thereto
as borrowers, the guarantors, the lenders party thereto and PNC Bank, National Association, as administrative agent, (b)&#8239;for working
capital and general corporate purposes and (c)&#8239;to pay fees, costs and expenses associated with the transactions contemplated hereby
(collectively, the &ldquo;<B><I>Transaction</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the foregoing, AG is pleased
to advise you of its commitment to provide a &euro;250,000,000.00 senior secured term loan facility (the &ldquo;<B><I>Term Loan Facility</I></B>&rdquo;),
upon the terms and subject only to the conditions explicitly set forth in the Conditions Annex (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Glatfelter Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Glatfelter Luxembourg S&agrave;rl<BR>
February&#8239;20, 2023</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&#8239;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Fees, Expenses and Indemnification</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As consideration for our commitment hereunder
and our agreement to perform the services described herein, you agree to pay, or cause to be paid, the fees set forth in the fee letter
between us and you dated the date hereof and delivered herewith (the &ldquo;<B><I>Fee Letter</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
consideration of the issuance of this letter by the Commitment Party and recognizing that in connection herewith the Commitment Party
is incurring costs and expenses, you agree, regardless of whether any of the transactions contemplated hereby are consummated (unless
the Commitment Party has breached its obligation to fund the Term Loan Facility on the terms set forth herein, as determined by a court
of competent jurisdiction in a final and non-appealable decision), (a)&#8239;</FONT>to reimburse the Commitment Party, upon presentation
of a summary statement, for all reasonable, documented and invoiced out-of-pocket expenses (limited, in the case of legal fees and expenses,
to the reasonable, documented and invoiced fees, disbursements and other charges of one primary counsel and and one local counsel in
each applicable jurisdiction (which may include a single special counsel acting in multiple jurisdictions)), in each case, incurred in
connection with the Term Loan Facility and the preparation, negotiation and enforcement of this Commitment Letter, the Fee Letter, the
definitive documentation for the Term Loan Facility (the &ldquo;<B><I>Loan Documents</I></B>&rdquo;) and any security arrangements in
connection therewith (collectively, the &ldquo;<B><I>Expenses</I></B>&rdquo;), and (b)&#8239;to indemnify, defend, and hold harmless
the Commitment Party, each of its affiliates, and each of their officers, directors, employees, agents, controlling persons, advisors,
attorneys, members and other representatives and the successors and permitted assigns (each, an &ldquo;<B><I>Indemnified Person</I></B>&rdquo;)
as set forth on Annex A hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Conditions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The commitment of the Commitment Party to provide
the Term Loan Facility shall be subject only to the conditions explicitly set forth in <U>Annex B</U> hereto (the &ldquo;<B><I>Conditions
Annex</I></B>&rdquo; and, together with this letter, the term sheet attached hereto (the &ldquo;<B><I>Term Sheet</I></B>&rdquo;), including
the respective annexes thereto, this &ldquo;<B><I>Commitment Letter</I></B>&rdquo;), and upon the satisfaction (or waiver by the Commitment
Party) of the conditions set forth in the Conditions Annex, the initial funding of the Term Loan Facility shall occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Confidentiality</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;You
agree that this Commitment Letter, the Term Sheet and the Fee Letter are for your confidential use only and that neither its existence,
nor the terms hereof, will, without the Commitment Party&rsquo;s prior written consent, be disclosed by you to any person other than
(i)&#8239;your officers, directors, agents, employees, accountants, auditors, attorneys, and other advisors, representatives and controlling
persons that are advised of the confidential nature thereof and instructed to keep the materials confidential, and then only on a &ldquo;need-to-know&rdquo;
basis in connection with the Transaction, (ii)&#8239;</FONT>pursuant to the order of any court or administrative agency in any pending
legal, judicial or administrative proceeding, or otherwise as required by applicable law or compulsory legal process or to the extent
requested or required by governmental and/or regulatory authorities (or self-regulatory authority or ratings agency having jurisdiction
over you or your affiliates), (iii)&#8239;you may disclose the aggregate fee amounts contained in the Commitment Letter (including the
Term Sheet) and the Fee Letter as a part of <I>pro forma</I> information or a generic disclosure of aggregate sources and uses related
to fee amounts related to the Transactions to the extent customary or required in any public filing relating to the Transactions, (iv)&#8239;to
the extent this Commitment Letter, the Term Sheet, the Fee Letter or the contents hereof or thereof, as applicable, become publicly available
other than by reason of disclosure by you in breach of this Commitment Letter, and (v)&#8239;to the extent necessary to enforce your
rights and remedies hereunder or thereunder. Notwithstanding the foregoing, and to the extent deemed reasonably necessary or appropriate
by the Company and its counsel, the Commitment Letter and the Term Sheet, but not the Fee letter, may be filed with the Securities and
Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Glatfelter Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Glatfelter Luxembourg S&agrave;rl<BR>
February&#8239;20, 2023</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&#8239;</I></B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Commitment Party will use all information provided to it by you or on your behalf or in connection with the Transactions solely for the
purpose of providing the services that are the subject of this Commitment Letter and shall treat confidentially all such information,
and that without your prior written consent, will not disclose any such information to any person other than (i)&#8239;the Commitment
Party&rsquo;s affiliates, officers, directors, employees, accountants, auditors, agents, attorneys, and other advisors that are advised
of the confidential nature thereof and instructed to keep the materials confidential, and then only on a &ldquo;need-to-know&rdquo; basis
in connection with the Transaction, (ii)&#8239;</FONT>pursuant to the order of any court or administrative agency in any pending legal,
judicial or administrative proceeding, or otherwise as required by applicable law or compulsory legal process or to the extent requested
or required by governmental and/or regulatory authorities (or self-regulatory authority having jurisdiction over the Commitment Party
or its affiliates), (iii)&#8239;to the extent this Commitment Letter, the Term Sheet, the Fee Letter or the contents hereof or thereof,
as applicable, become publicly available other than by reason of disclosure by the Commitment Party in breach of this Commitment Letter,
(iv)&#8239;to potential or prospective financing sources and partners and (v)&#8239;to the extent necessary to enforce your rights and
remedies hereunder or thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Information</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
issuing this Commitment Letter, the Commitment Party is relying on the accuracy of the information furnished to it by or on behalf of
Company and its affiliates, without independent verification thereof. Company represents and warrants that (a)&#8239;all written information
(other than forward looking information, estimates, projections of future financial performance (collectively, the &ldquo;<B><I>Projections</I></B>&rdquo;)
and </FONT>information of a general economic or industry specific nature) concerning Company and its subsidiaries (the &ldquo;<B><I>Information</I></B>&rdquo;)
that has been, or is hereafter, made available by or on behalf of Company, after giving effect to all supplements and updates provided
thereto, is or will be, when furnished, supplemented or updated, when considered as a whole, correct in all material respects and does
not, or shall not when delivered, contain any untrue statement of material fact or omit to state a material fact necessary in order to
make the statements contained therein not misleading in any material respect in light of the circumstances under which such statements
have been made (after giving effect to all supplements and updates thereto), and (b)&#8239;all Projections that have been or are hereafter
made available by or on behalf of Company are, or when delivered shall be, prepared in good faith on the basis of information and assumptions
that are believed by Company to be reasonable at the time such projections were prepared; it being recognized by the Commitment Party
that (i)&#8239;the Projections are as to future events and are not to be viewed as facts, (ii)&#8239;the Projections are subject to significant
uncertainties and contingencies, many of which are beyond the control of the Company, (iii)&#8239;the Projections are not a guarantee
of performance and (iv)&#8239;no assurance can be given that any particular Projections will be realized and that actual results during
the period or periods covered by any such Projections may differ significantly from the projected results and such differences may be
material. If, at any time prior to the Closing Date (as defined in the Term Sheet), any of the representations and warranties in the
preceding sentence would not be accurate and complete in any material respect if the Information or Projections were being furnished,
and such representations and warranties were being made, at such time, then you agree to promptly supplement the Information and/or Projections
so that the representations and warranties contained in this paragraph remain accurate and complete in all material respects under those
circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Sharing Information; Absence of Fiduciary
Relationship; Affiliate Activities</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You acknowledge that the Commitment Party or
one or more of its affiliates may be providing debt financing, equity capital or other services (including financial advisory services)
to other companies in respect of which you may have conflicting interests regarding the transactions described herein or otherwise.&#8239;&#8239;You
also acknowledge that we do not have any obligation to use in connection with the transactions contemplated by this Commitment Letter,
or to furnish to you, any information (including confidential information) obtained by us from other companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Glatfelter Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Glatfelter Luxembourg S&agrave;rl<BR>
February&#8239;20, 2023</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&#8239;</I></B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You further acknowledge and agree that (a)&#8239;no
fiduciary, advisory or agency relationship between you, on the one hand, and the Commitment Party, on the other hand, is intended to
be or has been created in respect of the Transaction or any of the other transactions contemplated by this Commitment Letter, irrespective
of whether the Commitment Party or one or more of its affiliates has advised or is advising you on other matters, (b)&#8239;the Commitment
Party, on the one hand, and you, on the other hand, have an arms-length business relationship that does not directly or indirectly give
rise to, nor do you rely on, any fiduciary duty on the part of the Commitment Party, (c)&#8239;you are capable of evaluating and understanding,
and you understand and accept, the terms, risks and conditions of the transactions contemplated by this Commitment Letter and the Term
Sheet, (d)&#8239;you have been advised that the Commitment Party or one or more of its affiliates is engaged in a broad range of transactions
that may involve interests that differ from your interests and that the Commitment Party does not have any obligation to disclose such
interests and transactions to you by virtue of any fiduciary, advisory or agency relationship, and (e)&#8239;you waive, to the fullest
extent permitted by law, any claims you may have against the Commitment Party for breach of fiduciary duty or alleged breach of fiduciary
duty and agree that the Commitment Party shall not have any liability (whether direct or indirect) to you in respect of such a fiduciary
duty claim or to any person asserting a fiduciary duty claim on behalf of or in right of you, including your stockholders, employees
or creditors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You further acknowledge that, in the ordinary
course of business, the Commitment Party or one or more of its affiliates may provide financial services to, and/or acquire, hold or
sell, for its own accounts or the accounts of others, equity, debt and other securities and financial instruments (including bank loans
and other obligations) of, you and other companies with which you may have commercial or other relationships.&#8239; With respect to
any debt or other securities and/or financial instruments so held by the Commitment Party or one or more of its affiliates or any of
their respective customers, all rights in respect of such securities and financial instruments, including any voting rights, will be
exercised by the holder of the rights, in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Binding Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each of the parties hereto agrees that, if accepted
by you in the manner set forth below, each of this Commitment Letter and the Fee Letter is a binding and enforceable agreement with respesct
to the subject matter contained herein and therein, including good faith negotiation of the Loan Documents by the parties hereto in a
manner consistent with this Commitment Letter; provided that nothing contained in this Commitment Letter obligates you or any of your
affiliates to execute the Credit Documentation (as defined in the Term Sheet) or to draw upon all or any portion of the Term Loan Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Governing Law, Etc.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Commitment Letter and the Term Sheet and
any claim or dispute concerning the subject matter hereof or thereof shall be governed by, and construed in accordance with, the law
of the State of New York. Each of the parties hereto consents to the exclusive jurisdiction and venue of the federal and/or state courts
located in New York, New York. This Commitment Letter (together with the Term Sheet) and the Fee Letter set forth the entire agreement
between the parties with respect to the matters addressed herein or therein, supersedes all prior communications, written or oral, with
respect hereto and thereto, and may not be amended, supplemented, or modified except in a writing signed by the parties hereto or thereto,
as applicable. This Commitment Letter may be executed in any number of counterparts, each of which, when so executed, shall be deemed
to be an original and all of which, taken together, shall constitute one and the same agreement. Delivery of an executed counterpart
of a signature page&#8239;to this Commitment Letter by telecopier or other electronic transmission shall be equally effective as delivery
of a manually executed counterpart of this Commitment Letter. This Commitment Letter (and your rights and obligations hereunder) shall
not be assignable by you without the prior written consent of the Commitment Party (any purported assignment without such consent shall
be null and void), is intended to be solely for the benefit of the parties hereto, and is not intended to confer any benefits upon, or
create any rights in favor of, any person or entity other than the parties hereto and the Indemnified Persons. AG may assign this Commitment
Letter (its rights and obligations hereunder) to any affiliate of AG or any entity managed or controlled by AG or any of its affiliates
without your consent. In the event that this Commitment Letter is terminated or expires for any reason, the Expenses and Indemnification,
Sharing Information; Absence of Fiduciary Relationship; Governing Law, Etc., and Waiver of Jury Trial provisions hereof shall survive
such termination or expiration. The Confidentiality provision shall survive the termination or expiration of this Commitment Letter and
automatically terminate on the second anniversary of the date hereof. The Expenses and Indemnification, Confidentiality and Sharing Information;
Absence of a Fiduciary Relationship; Affiliate Activities shall be superceded and replaced by any similar provisions in the Credit Documentation
upon the initial funding thereunder and the payment of all amounts owing at such time hereunder and under the Fee Letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Glatfelter Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Glatfelter Luxembourg S&agrave;rl<BR>
February&#8239;20, 2023</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&#8239;</I></B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Waiver of Jury Trial</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the maximum extent permitted by applicable
law, each party hereto irrevocably waives any and all rights to a trial by jury in any action or proceeding (whether based on contract,
tort, or otherwise) arising out of or relating to this Commitment Letter, the Term Sheet, the Fee Letter, the Term Loan Facility, the
Transaction or the other transactions contemplated hereby or thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Patriot Act</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Commitment Party hereby notifies you that
pursuant to the requirements of the USA PATRIOT Act, Title III of Pub. L. 107-56 (signed into law October&#8239;26, 2001) (the &ldquo;<B><I>PATRIOT
Act</I></B>&rdquo;) and 31 C.F.R. &sect; 1010.230 (the &ldquo;<B><I>Beneficial Ownership Regulation</I></B>&rdquo;), the Commitment Party
may be required to obtain, verify and record information that identifies the Loan Parties (as defined in the Term Sheet), which information
includes the name, address, tax identification number and other information regarding the Loan Parties that will allow the Commitment
Party to identify the Loan Parties in accordance with the PATRIOT Act and the Beneficial Ownership Regulation. This notice is given in
accordance with the requirements of the PATRIOT Act and the Beneficial Ownership Regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the foregoing correctly sets forth our agreement, please indicate your acceptance of the terms of this Commitment Letter by returning
to us executed counterparts of this Commitment Letter not later than 11:59 p.m., New York City time, on February&#8239;20, 2023. The
Commitment Party&rsquo;s commitments and obligations hereunder will expire at such time in the event that we have not received such executed
counterparts in accordance with the immediately preceding sentence. If you do so execute and deliver to us this Commitment Letter, we
agree to hold our commitments herein with respect to the Term Loan Facility available for you until May&#8239;15, 2023 (the &ldquo;<B><I>Expiration
Date</I></B>&rdquo;); provided that, the Expiration Date may be extended to such later date as agreed to in writing by the parties hereto.
Upon the occurrence of the Expiration Date, this Commitment Letter and the commitments of the Commitment Party hereunder and the agreement
of the Commitment Party to provide the services described herein shall automatically terminate unless the Commitment Party shall, in
their sole discretion, agree to an extension in writing; </FONT><I>provided</I> that the termination of any commitment pursuant to this
paragraph shall not prejudice your rights and remedies in respect of any breach of this Commitment Letter prior to such termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[remainder of page&#8239;intentionally left blank]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&#8239;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&#8239;</TD>
    <TD STYLE="width: 3%">&#8239;</TD>
    <TD STYLE="width: 5%">&#8239;</TD>
    <TD STYLE="width: 42%">&#8239;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#8239;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ANGELO, GORDON&#8239;&amp; CO., L.P.,</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#8239;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">on behalf of certain of its managed funds
    and accounts</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#8239;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Christopher Moore</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD>Christopher Moore</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD>Authorized Signatory</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[SIGNATURE PAGE TO COMMITMENT
LETTER]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ACCEPTED AND AGREED TO AS OF THE DATE
    FIRST WRITTEN ABOVE:</B></FONT></TD>
    <TD>&#8239;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&#8239;</TD>
    <TD STYLE="width: 5%">&#8239;</TD>
    <TD STYLE="width: 42%">&#8239;</TD>
    <TD STYLE="width: 50%">&#8239;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>GLATFELTER
    CORPORATION</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">,</FONT></TD>
    <TD>&#8239;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a Pennsylvania corporation</FONT></TD>
    <TD>&#8239;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD>
    <TD>&#8239;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Ramesh Shettigar</TD>
    <TD>&#8239;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#8239;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD>Ramesh Shettigar</TD>
    <TD>&#8239;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#8239;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD>SVP, CFO &amp; Treasurer</TD>
    <TD>&#8239;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>GLATFELTER LUXEMBOURG S.&Agrave; R.L</B>,</FONT></TD>
    <TD>&#8239;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a private limited liability company (<I>soci&eacute;t&eacute;
    &agrave; responsabilit&eacute; limit&eacute;e</I>) incorporated and existing under the laws of Luxembourg</FONT></TD>
    <TD>&#8239;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&#8239;</TD>
    <TD STYLE="width: 45%">&#8239;</TD>
    <TD STYLE="width: 50%">&#8239;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Jill Urey&#8239;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD>&#8239;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD>Jill Urey</TD>
    <TD>&#8239;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD>Class A Manager</TD>
    <TD>&#8239;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNEX A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>Indemnification Provisions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Capitalized terms used herein shall have the
meanings ascribed to them in the commitment letter, dated February&#8239;20,&#8239;2023 (the &ldquo;<B><I>Commitment Letter</I></B>&rdquo;)
among Glatfelter Corporation, a Pennsylvania corporation and Glatfelter Luxembourg S.&agrave; r.l, a private limited liability company
(<I>soci&eacute;t&eacute; &agrave; responsabilit&eacute; limit&eacute;e</I>) incorporated and existing under the laws of Luxembourg and
Angelo, Gordon&#8239;&amp; Co., L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To induce the Commitment
Party to enter into the Commitment Letter and the Fee Letter and to proceed with the documentation of the Term Loan Facility, the Company
agrees</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;to
indemnify and hold harmless the Commitment Party, its affiliates and their respective officers, directors, employees, partners, agents,
controlling persons, advisors, attorneys, members and other representatives and the successors and permitted assigns of each of the foregoing
(each, an &ldquo;<B><I>Indemnified Person</I></B>&rdquo;) from and against any and all losses (excluding lost profits), claims, damages
and liabilities of any kind or nature and reasonable, documented and invoiced out-of-pocket fees and expenses, joint or several (limited,
in the case of legal fees and expenses of the Indemnified Persons, to the reasonable, documented and invoiced fees, disbursements and
other charges of one primary counsel for all Indemnified Persons and one local counsel in each applicable jurisdiction (which may include
a single special counsel acting in multiple jurisdictions) for all Indemnified Persons) (and in the case of an actual or perceived conflict
of interest where the Indemnified Person(s)&#8239;affected by such conflict informs you of such conflict and retains their own counsel,
of another firm of counsel for all such affected Indemnified Person(s)&#8239;taken as a whole), to which any such Indemnified Person
may become subject to the extent arising out of, resulting from or in connection with, this Commitment Letter (including the Term Sheet),
the Fee Letter, the Transactions, the Term Loan Facility or any use of the proceeds thereof or any claim, litigation, investigation or
proceeding (including any inquiry or investigation) relating to any of the foregoing (any of the foregoing, a &ldquo;<B><I>Proceeding</I></B>&rdquo;),
regardless of whether any such Indemnified Person is a party thereto, whether or not such Proceedings are brought by or against you,
any equityholders or any of your or any equityholders&rsquo; affiliates, creditors or any other third person; <B><I>provided</I></B>
that the foregoing indemnity will not, as to any Indemnified Person, apply to losses, claims, damages, liabilities, costs or expenses
to the extent that they have resulted from</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;the
willful misconduct, bad faith or gross negligence of such Indemnified Person or any of such Indemnified Person&rsquo;s controlled or
controlling affiliates or any of its or their respective officers, directors, employees, controlling persons and, to the extent acting
at the direction of such Indemnified Person, agents, advisors or other representatives in each case who are involved in the Transactions
(as determined by a court of competent jurisdiction in a final and non-appealable decision),</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;a
material breach of the obligations of such Indemnified Person or any of such Indemnified Person&rsquo;s controlled or controlling affiliates
under this Commitment Letter (including, the Term Sheet) (as determined by a court of competent jurisdiction in a final and non-appealable
decision), or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(iii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;any
Proceeding that does not involve an act or omission by the Company or any of its affiliates and that is brought by or against an Indemnified
Person against any other Indemnified Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing provisions shall be superseded,
in each case, to the extent covered thereby, by the applicable provisions contained in the Loan Documents upon the effectiveness thereof
and thereafter shall have no further force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Glatfelter Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Glatfelter Luxembourg S&agrave;rl<BR>
February&#8239;20, 2023</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&#8239;</I></B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding any other
provision of the Commitment Letter, (i)&#8239;no party to the Commitment Letter or their respective affiliates, shall be liable for any
damages arising from the use by others of information or other materials obtained through internet, electronic, telecommunications or
other information transmission systems, except to the extent that such damages are found in a final non-appealable judgment of a court
of competent jurisdiction to have resulted from the willful misconduct, bad faith or gross negligence of such person or any of such person&rsquo;s
affiliates or any of its or their respective officers, directors, employees, and, to the extent acting at the direction of such Indemnified
Person, agents, advisors or other representatives in each case who are involved in the Transactions (as determined by a court of competent
jurisdiction in a final and non-appealable decision) and (ii)&#8239;none of us, you, the equityholders, any Indemnified Person or any
affiliate of any of the foregoing, any officer, director, employee, agent, controlling person, advisor or other representative of the
foregoing or any successor or permitted assign of any of the foregoing shall be liable for any indirect, special, punitive or consequential
damages (including, without limitation, any loss of profits, business or anticipated savings) in connection with the Commitment Letter,
the Fee Letter, the Transactions (including the Term Loan Facility and the use of proceeds thereunder), or with respect to any activities
related to the Term Loan Facility, including the preparation of this Commitment Letter, the Fee Letter and the Loan Documents; <B><I>provided
</I></B>that nothing contained in <B><U>clause (ii)</U></B>&#8239;above shall limit your indemnity and reimbursement obligations to the
extent set forth in the immediately preceding paragraph in respect of any third-party claims alleging such indirect, special, punitive
or consequential damages. Notwithstanding the foregoing, each Indemnified Person will be obligated to refund and return promptly any
and all amounts paid by you under the immediately preceding paragraph to the extent it has been determined by a court of competent jurisdiction
in a final and non-appealable decision that such Indemnified Person is not entitled to payment of such amounts in accordance with the
terms hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
shall not be liable for any settlement of any Proceeding by an Indemnified Person (or </FONT>expenses related thereto) effected without
your written consent (which consent shall not be unreasonably withheld, conditioned or delayed), but if settled with your written consent
or if there is a final and non-appealable judgment by a court of competent jurisdiction in any such Proceeding, you agree to indemnify
and hold harmless each Indemnified Person from and against any and all losses, claims, damages, liabilities and expenses by reason of
such settlement or judgment in accordance with the other provisions of this Annex A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You shall not, without the
prior written consent of any Indemnified Person (which consent shall not be unreasonably withheld, conditioned or delayed; <I>provided
</I>that a failure to consent because the conditions specified in (i)&#8239;and (ii)&#8239;below are not satisfied shall not be unreasonable),
effect any settlement of any pending or threatened proceedings in respect of which indemnity could have been sought hereunder by such
Indemnified Person unless such settlement (i)&#8239;includes an unconditional release of such Indemnified Person in form and substance
reasonably satisfactory to such Indemnified Person from all liability or claims that are the subject matter of such proceedings and (ii)&#8239;does
not include any statement as to or any admission of fault, culpability, wrong doing or a failure to act by or on behalf of any Indemnified
Person. Notwithstanding the foregoing, each Indemnified Person shall be obligated to refund or return any and all amounts paid by you
under this paragraph to such Indemnified Person for any losses, claims, damages, liabilities and expenses to the extent such Indemnified
Person is not entitled to payment of such amounts in accordance with the terms hereof (as determined by a court of competent jurisdiction
in a final and non-appealable judgment).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In case any claim, litigation,
investigation or proceeding is instituted involving any Indemnified Person for which indemnification is to be sought hereunder by such
Indemnified Person, then such Indemnified Person will notify you of the commencement of any such claim, litigation, investigation or
proceeding promptly after such Indemnified Person has actual knowledge of the same; <B><I>provided</I></B>, <B><I>however</I></B>, that
the failure to so notify you will not relieve you from any liability that you may have to such Indemnified Person pursuant to this Annex
A or from any liability that you may have to such Indemnified Person other than pursuant to this Annex A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>COMMITMENT LETTER<BR>
TERM SHEET</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>TERM SHEET</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Term Sheet is part of the commitment letter,
dated as of February&nbsp;20, 2023 (the &ldquo;<B><I>Commitment Letter</I></B>&rdquo;; the date of the Commitment Letter, the &ldquo;<B><I>Commitment
Letter Date</I></B>&rdquo;), among Glatfelter Corporation, a Pennsylvania corporation (&ldquo;<B><I>Parent</I></B>&rdquo;), Glatfelter
Luxembourg S.&agrave; r.l, a private limited liability company (<I>soci&eacute;t&eacute; &agrave; responsabilit&eacute; limit&eacute;e</I>)
incorporated and existing under the laws of Luxembourg (the &ldquo;<B><I>Borrower</I></B>&rdquo;, together with Parent, the &ldquo;<B><I>Company</I></B>&rdquo;
or &ldquo;<B><I>you</I></B>&rdquo;) and Angelo, Gordon&nbsp;&amp; Co., L.P. and is subject to the terms and conditions of the Commitment
Letter. Capitalized terms used herein and in the accompanying Annexes shall have the meanings set forth in the Commitment Letter or Fee
Letter (as applicable) unless otherwise defined herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding: 4pt 5.4pt; width: 29%; font-size: 10pt; text-align: justify"><B>Borrower</B></TD>
    <TD STYLE="border-top: Black 1pt solid; padding: 4pt 5.4pt; width: 71%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify">Glatfelter
    Luxembourg S.&agrave; r.l., a limited liability company (<I>soci&eacute;t&eacute; &agrave; responsabilit&eacute; limit&eacute;e</I>)
    incorporated and existing under the laws of Luxembourg (the &ldquo;<B><I>Borrower</I></B>&rdquo;; together with the Foreign Guarantors
    (as defined below), the &ldquo;<B><I>Foreign Loan Parties</I></B>&rdquo;)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt; text-align: justify"><B>Guarantors</B></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Term Loan Facility will be fully and
    unconditionally guaranteed on a joint and several basis by (i)&nbsp;Parent and all of the existing and future domestic subsidiaries
    of Parent organized under the laws of the United States and Canada that provide a guaranty under Parent&rsquo;s Amended Credit Agreement
    (as defined below) (collectively, the &ldquo;<B><I>Domestic Guarantors</I></B>&rdquo;), (ii)&nbsp;all existing foreign subsidiaries
    of Parent and all future foreign subsidiaries that are Material Subsidiaries of Parent, in each case, organized under the laws of
    Germany, Luxembourg, England&nbsp;&amp; Wales, Scotland and Northern Ireland, Malta and Switzerland (such jurisdictions, the &ldquo;<B><I>Perfection
    Jurisdictions</I></B>&rdquo;) (collectively, other than the entities that are the subject of the Specified Entity Sales, the &ldquo;<B><I>Perfection
    Jurisdiction Foreign Guarantors</I></B>&rdquo;) and (iii)&nbsp;any other Material Subsidiary (as defined below) incorporated in a
    Foreign Security Jurisdiction (as defined below) from time to time (the &ldquo;<B><I>Additional Foreign Guarantors</I></B>&rdquo;;
    together with the Perfection Jurisdiction Foreign Guarantors, the &ldquo;<B><I>Foreign Guarantors</I></B>&rdquo;; the Foreign Guarantors
    and the Domestic Guarantors, the &ldquo;<B><I>Guarantors</I></B>&rdquo;; the Guarantors together with the Borrower, the &ldquo;<B><I>Loan
    Parties</I></B>&rdquo;).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At all times after the Closing Date, the
    aggregate of earnings before interest, tax, depreciation and amortisation (calculated in a manner consistent with &ldquo;Consolidated
    EBITDA&rdquo;) and the aggregate consolidated assets of the Borrower and Foreign Guarantors (calculated on an unconsolidated basis
    and excluding all intra-group items and investments in Subsidiaries of any member of the Group) must exceed 85% of Consolidated EBITDA
    and 85% of the aggregate consolidated assets of the Group (excluding the Domestic Guarantors) (such requirement being the &ldquo;<B><I>Guarantor
    Threshold Test</I></B>&rdquo;).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B><I>Excluded Jurisdiction</I></B>&rdquo;
    means Argentina, Chile, China, Columbia,&nbsp;India, Mexico, Pakistan, Russia, Taiwan, Turkey, Venezuela and the United Arab Emirates
    and any jurisdiction which is a Sanctioned Country (to be defined in the Loan Documents).</P>
    </TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">Glatfelter Corporation<BR>
Glatfelter Luxembourg S.&agrave; r.l.<BR>
February 20, 2023 <BR>
Page 2 of 30&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding: 4pt 5.4pt; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B><I>Foreign
                                            Security Jurisdiction</I></B>&rdquo; means each jurisdiction other than the United States
                                            and Canada which is not an Excluded Jurisdiction.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B><I>Group</I></B>&rdquo; means the
    Parent and its Subsidiaries (to be defined the Loan Documents).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B><I>Material Subsidiary</I></B>&rdquo;
    means (a)&nbsp;a Foreign Guarantor, (b)&nbsp;any member of the Group holding shares in a Foreign Guarantor and (c)&nbsp;any member
    of the Group (other than a Domestic Guarantor) which has earnings before interest, tax, depreciation and amortisation (calculated
    on the same basis as Consolidated EBITDA) representing 5.0% or more of Consolidated EBITDA or which has consolidated assets representing
    5.0% or more of the consolidated assets of the Group (excluding the Domestic Guarantors) (calculated on a consolidated basis); provided
    that such 5% thresholds shall be increased to 7.5% for any member of the Group not located in a Perfection Jurisdiction.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the avoidance of doubt, notwithstanding
    anything to the contrary herein, any entity that provides a guaranty under the Amended Credit Agreement will provide a guaranty under
    the Term Loan Facility.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt; text-align: justify; width: 29%"><B>Transaction
    Description</B></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; width: 71%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.65pt; text-align: justify; text-indent: -0.65pt">The transactions
    described below are collectively referred to as the &ldquo;<B><I>Transactions</I></B>&rdquo;:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.65pt; text-align: justify; text-indent: -0.65pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.65pt; text-align: justify; text-indent: -0.65pt">(a)&nbsp;the
    Borrower will obtain a &euro;250 million term loan facility (the &ldquo;<B><I>Term Loan Facility&rdquo;</I></B> and the loans thereunder,
    the &ldquo;<B><I>Term Loans</I></B>&rdquo;);</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.65pt; text-align: justify; text-indent: -0.65pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.65pt; text-align: justify; text-indent: -0.65pt">(b)&nbsp;Parent
    will repay (i)&nbsp;the existing term loans outstanding under the Existing Credit Agreement and (ii)&nbsp;all outstanding debt of
    Glatfelter Gernsbach GmbH, provided such prepayment requirement shall be waived to the extent any such outstanding debt is amended
    such that there is no requirement thereunder that such debt be secured and there are no conflicts between such debt and the Term
    Loan Facility (collectively, the &ldquo;<B><I>Refinancing</I></B>&rdquo;);</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.65pt; text-align: justify; text-indent: -0.65pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c)&nbsp;Parent will enter into an amendment
    to the Existing Credit Agreement (the &ldquo;<B><I>Revolving Amendment</I></B>&rdquo;; the facility thereunder, the &ldquo;<B><I>Revolving
    Facility</I></B>&rdquo;; the Existing Credit Agreement as amended by the Revolving Amendment, the &ldquo;<B><I>Amended Credit Agreement</I></B>&rdquo;).
    The &ldquo;Amended Credit Agreement&rdquo; and &ldquo;Revolving Facility&rdquo; will also refer to any other debt financing agreement
    entered into and the related facility thereunder on or prior to the Closing Date that replaces the revolving credit facility under
    the Existing Credit Agreement so long as (1)&nbsp;the aggregate principal amount of such financing does not exceed $300 million,
    (2)&nbsp;such financing is not guaranteed by any person other than the Guarantors or secured by any assets other than the Collateral
    (subject to the same lien priorities applicable to the Amended Credit Agreement as set forth herein), (3)&nbsp;the covenants applicable
    to such financing are not materially more restrictive to the Group, taken as a whole, than the covenants proposed to be included
    in the Amended Credit Agreement (as reasonably determined by Parent) and (4)&nbsp;any prepayment premium, call protection, exit fee
    or other similar fees or amounts payable under such financing shall <FONT STYLE="font-size: 10pt">not be greater than the amount
    of </FONT>call protection payable under the Term Loan Facility; and</P>
    </TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">Glatfelter Corporation<BR>
Glatfelter Luxembourg S.&agrave; r.l.<BR>
February 20, 2023 <BR>
Page 3 of 30&nbsp;</FONT></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding: 4pt 5.4pt; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt; font-size: 10pt; text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.65pt; text-align: justify; text-indent: -0.65pt">(d)&nbsp;the
                                            fees, premiums, expenses and other transaction costs incurred in connection with the Transactions
                                            (the &ldquo;<B><I>Transaction Costs</I></B>&rdquo;) will be paid.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.65pt; text-align: justify; text-indent: -0.65pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of the Commitment Letter, &ldquo;<B><I>Closing
    Date</I></B>&rdquo; shall mean the date of the satisfaction (or waiver by the Commitment Party) of the relevant conditions set forth
    on <U>Annex B</U> and the funding of the Term Loan Facility.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Term Loan Facility will be available
    in a single drawing on the Closing Date. Amounts borrowed under the Term Loan Facility that are repaid or prepaid may not be reborrowed.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt; text-align: justify; width: 29%"><B>Principal
    Amount</B></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify; width: 71%">&euro;250
    million</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt; text-align: justify"><B>Agent
    Fee</B></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify">Customary
    agency fee to be agreed by the Company.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt; text-align: justify"><B>Interest
    Rate</B></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify">The
    Term Loans will bear interest at a fixed rate of 11.25% (the &ldquo;<B><I>Interest Rate</I></B>&rdquo;).</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt"><B>Interest
    Payment Dates</B></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Quarterly in arrears and at maturity; provided
    that, at the Borrower&rsquo;s election, during the PIK Availability Period (as defined below), 5.00% of the Interest Rate may be
    payable in kind by capitalizing such interest and increasing the outstanding principal amount of the Term Loans on Interest Payment
    Dates (such amount that becomes principal, the &ldquo;<B><I>PIK Amount</I></B>&rdquo;). For the avoidance of doubt, the remaining
    6.25% of the Interest Rate shall be payable in cash.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B><I>PIK Availability Period</I></B>&rdquo;
    means the period from the Closing Date to the second anniversary of the Closing Date.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt; text-align: justify"><B>Maturity
    </B></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify">The
    Term Loans will mature on March&nbsp;23, 2029 (the &ldquo;<B><I>Maturity Date</I></B>&rdquo;).</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt; text-align: justify"><B>Amortization</B></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify">None.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt; text-align: justify"><B>Administrative
    Agent and Collateral Agent</B></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify">Alter
    Domus (US) LLC will act as sole and exclusive administrative agent and collateral agent (in such capacity, the &ldquo;<B><I>Agent</I></B>&rdquo;)
    for the Lenders and as sole and exclusive security agent under the relevant non-U.S. governed Loan Documents, and will perform the
    duties customarily associated with such roles.</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">Glatfelter Corporation<BR>
Glatfelter Luxembourg S.&agrave; r.l.<BR>
February 20, 2023 <BR>
Page 4 of 30&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 29%; border-left: black 1pt solid; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Lender(s)</B></FONT></TD>
    <TD STYLE="padding: 4pt 5.4pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 71%; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
    funds and accounts managed by Angelo, Gordon&nbsp;&amp; Co. L.P. (collectively, the &ldquo;<B><I>Lenders</I></B>&rdquo;).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-left: black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Collateral</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Loan Parties shall grant a security interest
    in the following property, wherever located, now owned or hereafter acquired, subject to customary legal exceptions and exclusions
    to be agreed (including customary local law limitations) set forth in the applicable documentation (collectively, the &ldquo;<B><I>Collateral</I></B>&rdquo;):</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;valid
    and perfected (in the case of the assets of the Foreign Loan Parties) first- or (in the case of the assets of the Domestic Guarantors)
    second-priority (subject to permitted liens) security interests in, and (as applicable) mortgages, land charges, pledges, security
    assignments, security by title transfer or hypothecs (as applicable) on, substantially all tangible and intangible assets of the
    Loan Parties (including, without limitation and subject to the following paragraph, accounts receivables, inventory, equipment, investment
    property, intellectual property, other general intangibles and fee-owned, freehold or heritable interest real property, to the extent
    available in the applicable jurisdiction;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;a
    valid and perfected (in the case of the equity interests in the Foreign Loan Parties (including the Borrower)) first- or (in the
    case of the equity interests in the Domestic Guarantors) second-priority (subject to permitted liens) pledge in the equity interests
    of each present and future, direct or indirect Subsidiary of the Parent held by a Loan Party; and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;all
    proceeds and products of the property and assets described in <U>clauses (i)</U>&nbsp;and <U>(ii)</U>&nbsp;above.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Glatfelter Corporation<BR>
Glatfelter Luxembourg S.&agrave; r.l.<BR>
February 20, 2023 <BR>
Page 5 of 30&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; text-align: justify; font-size: 10pt; width: 29%">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt; width: 71%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding anything to the contrary,
    in the case of the Domestic Guarantors, the Collateral shall exclude the following: (i)&nbsp;motor vehicles and other assets subject
    to certificates of title; (ii)&nbsp;pledges and security interests (including in respect of interests in partnerships, joint ventures
    and other non-wholly-owned entities) to the extent prohibited by law or prohibited by agreements or organizational documents containing
    anti-assignment clauses not overridden by the Uniform Commercial Code, the PPSA (as defined below) or other applicable law; (iii)&nbsp;any
    timberland property, any leased real property and any owned real property with a fair market value of less than $25,000,000 (with
    any required mortgages on properties with a value greater than such amount being permitted to be delivered within 180 days); (iv)&nbsp;intent-to-use
    trademark or service mark applications prior to the filing of a &ldquo;Statement of Use&rdquo; or &ldquo;Amendment to Allege Use&rdquo;
    with respect thereto, to the extent, if any, that, and solely during any such period in which, the grant of a security interest therein
    would impair the validity or enforceability thereof under applicable federal law; (v)&nbsp;equity interests in any Person other than
    wholly-owned Subsidiaries of the Company to the extent not permitted by the terms of such Subsidiary&rsquo;s organizational or joint
    venture documents as in effect on the Closing Date or the date the applicable Person becomes a direct or indirect Subsidiary of the
    Company and not created or entered into in contemplation of the transaction; (vi)&nbsp;any lease, license or other agreement or any
    property subject to a purchase money security interest, capital lease obligation or similar arrangements, in each case, to the extent
    permitted under the Agreement to the extent that a grant of a security interest therein would violate or invalidate such lease, license
    or agreement, purchase money, capital lease or a similar arrangement or create a right of termination in favor of any other unaffiliated
    third party thereto after giving effect to the applicable anti-assignment provisions of the Uniform Commercial Code, the PPSA or
    other applicable law, other than proceeds and receivables thereof, the assignment of which is expressly deemed effective under applicable
    law notwithstanding such prohibition; (vii)&nbsp;any property and assets the pledge of which would require governmental consent,
    approval, license or authorization which has not been obtained (with no obligation to pursue such consent, approval, license or authorization),
    after giving effect to the applicable anti-assignment provisions of the Uniform Commercial Code, the PPSA, or other applicable law
    (viii)&nbsp;any governmental licenses or state or local franchises, charters and authorizations which are not permitted to be pledged
    under applicable law, after giving effect to the applicable anti-assignment provisions of the Uniform Commercial Code, the PPSA or
    other applicable law and (ix)&nbsp;any Consumer Goods (as defined in the PPSA).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, in the case of the Domestic
    Guarantors, (a)&nbsp;no perfection actions (beyond the filing of a financing statement under the Uniform Commercial Code or the PPSA)
    shall be required with respect to (A)&nbsp;commercial tort claims not exceeding $5,000,000, (B)&nbsp;motor vehicles and other assets
    subject to certificates of title and (C)&nbsp;letter of credit rights, except to the extent constituting a supporting obligation
    for other Collateral as to which perfection is accomplished by the filing of a Uniform Commercial Code or PPSA financing statement
    or equivalent (it being understood that no actions shall be required to perfect a security interest in letter of credit rights, other
    than the filing of a Uniform Commercial Code or PPSA financing statement or equivalent), (b)&nbsp;promissory notes to the extent
    evidencing debt for borrowed money in a principal amount (individually) of less than $5,000,000 shall not be required to be delivered,
    (c)&nbsp;the Loan Parties shall not be required, nor shall the Administrative Agent or the Collateral Agent be authorized to enter
    into any bailee waiver, landlord waiver, collateral access agreements or estoppel letters, and (d)&nbsp;each pledge in the equity
    interests of the Domestic Guarantors will be subject to any applicable prohibitions and limitations provided by law or regulation.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Glatfelter Corporation<BR>
Glatfelter Luxembourg S.&agrave; r.l.<BR>
February 20, 2023 <BR>
Page 6 of 30&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; text-align: justify; font-size: 10pt; width: 29%">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt; width: 71%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding anything to the contrary,
    in the case of the Foreign Loan Parties, (i)&nbsp;general mandatory statutory limitations, financial assistance, corporate benefit,
    fraudulent preference, &ldquo;thin capitalisation&rdquo; rules, capital maintenance, retention of title claims, exchange control
    restrictions and similar principles may limit the ability of a Foreign Loan Party to provide a guarantee or security interest over
    Collateral or may require that the guarantee or security interest over Collateral be limited by an amount or otherwise, provided
    that the Parent and the relevant Foreign Loan Party will use commercially reasonable efforts to assist in overcoming any such restriction
    and demonstrating that adequate corporate benefit accrues to each Foreign Loan Party (or in the case of an equity pledge, its immediate
    shareholder); (ii)&nbsp;each security interest over Collateral and the extent of its perfection will be agreed on the basis that
    the cost to the Group of providing security shall be proportionate to the benefit accruing to the Lenders (as determined in the reasonable
    opinion of the Lenders); (iii)&nbsp;any assets subject to pre-existing third party arrangements which are permitted by the Loan Documents
    and which prevent those assets from being subject to fixed or specific security interests over the Collateral (but not, for the avoidance
    of doubt, any floating security) will be excluded from such fixed or specific security interest over Collateral in any relevant Collateral
    Document provided that commercially reasonable efforts to obtain consent to charging any such assets shall be used by the Parent
    and the relevant Foreign Loan Party if the relevant asset is material; (iv)&nbsp;Foreign Loan Parties will not be required to give
    guarantees or grant security interest over Collateral if that would conflict with the mandatory fiduciary duties of their directors
    or contravene any legal prohibition or result in a material risk of personal or criminal liability on the part of any officer or
    member of such company provided that the Parent and the relevant Foreign Loan Party shall use commercially reasonable efforts to
    overcome any such obstacle; (v)&nbsp;perfection of the security interests over Collateral, when required, and other legal formalities
    and registrations will be completed as soon as practicable and, in any event, within the time periods specified in the Loan Documents
    or (if earlier or to the extent no such time periods are specified in the Loan Documents) within the time periods are specified by
    applicable law in order to ensure due perfection or valid creation of the relevant security interests (as applicable); (vi)&nbsp;no
    perfection action will be required in jurisdictions which are not the jurisdiction of the relevant Foreign Loan Party (or in the
    case of an equity pledge, its immediate shareholder) but perfection action may be required in the jurisdiction of one Foreign Loan
    Party (or in the case of an equity pledge, its immediate shareholder) in relation to security interest granted by another Foreign
    Loan Party (or in the case of an equity pledge, its immediate shareholder) located in a different jurisdiction; (vii)&nbsp;access
    to the assets of a Foreign Loan Party and the maximum guaranteed or secured amount may be restricted or limited by guarantee limitation
    language to the extent consistent with these security principles, customary practice in the relevant jurisdiction to minimize stamp
    duty, notarisation, registration or other applicable fees where the economic benefit of increasing the guaranteed or secured amount
    is disproportionate (in the reasonable opinion of the Lenders) to the level of such fee; and (viii)&nbsp;subject to these security
    principles, security interest will be granted over owned real property assets with a fair market value of not less than $25,000,000
    in which a Foreign Loan Party has an interest.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Glatfelter Corporation<BR>
Glatfelter Luxembourg S.&agrave; r.l.<BR>
February 20, 2023 <BR>
Page 7 of 30&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; border-top: Black 1pt solid; text-align: justify; font-size: 10pt; width: 29%">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 4pt 5.4pt; width: 71%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Collateral Documents shall operate only
    to create, perfect and facilitate enforcement of security and not impose material additional commercial obligations.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The liens securing the Term Loan Facility
    will be first priority in the case of the Term Priority Collateral (as defined below) and, with respect to the Revolving Priority
    Collateral (as defined below), junior to the liens securing the Revolving Facility.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B><I>Term Priority Collateral</I></B>&rdquo;
    shall mean (i)&nbsp;all Collateral that is owned by the Foreign Loan Parties and (ii)&nbsp;the equity interests in the Borrower.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B><I>Revolving Priority Collateral</I></B>&rdquo;
    shall mean all Collateral owned by the Domestic Guarantors (other than the equity interests in the Borrower).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B><I>PPSA</I></B>&rdquo; shall mean
    the <I>Personal Property Security Act</I> (Ontario) and the regulations thereunder, as from time to time in effect; provided, that
    if attachment, perfection or priority of the Collateral Agent&rsquo;s liens in any Collateral are governed by the personal property
    security laws of any Canadian jurisdiction other than Ontario, PPSA means those personal property security laws in such other jurisdiction
    (including, in the case of Quebec, the Civil Code of Quebec and the regulations thereunder) for the purposes of the provisions hereof
    relating to such attachment, perfection or priority and for the definitions related to such provisions</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Documentation
    Considerations</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 4pt 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Loan Documents shall be consistent with
    this Term Sheet and shall be substantially consistent with the Amended Credit Agreement (in the form provided to the Lenders on January&nbsp;6,
    2023 or, if provisions in the executed Amended Credit Agreement are more restrictive on Parent and its subsidiaries, then such more
    restrictive terms shall apply to the Term Loan Facility), with such changes as are reasonably necessary to reflect the term nature
    of the borrowings, the identity of the Borrower, the European nature and location of the facility, the status of the Borrower as
    a subsidiary of the Parent and such other edits to be agreed in good faith. The Loan Documents will include customary Swiss tax gross
    up provisions to be reasonably agreed.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Loan Documents shall be negotiated in
    good faith as promptly as reasonably practicable and initial drafts of the Loan Documents are to be drafted by Simpson Thacher&nbsp;&amp;
    Bartlett LLP, as counsel to the Lenders.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Glatfelter Corporation<BR>
Glatfelter Luxembourg S.&agrave; r.l.<BR>
February 20, 2023 <BR>
Page 8 of 30&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; text-align: justify; font-size: 10pt; width: 29%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Intercreditor
    Agreements</B></FONT></TD>
    <TD STYLE="padding: 4pt 5.4pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; font-size: 10pt; width: 71%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    lien priority, relative rights and other creditors&rsquo; rights issues in respect of the Term Loan Facility and the Revolving Facility
    shall be subject to a U.S./Canadian intercreditor agreement and the European Intercreditor Agreement, in each case, on terms that
    are reasonably satisfactory to the Commitment Party and in accordance with the agreed intercreditor principles set forth on <U>Schedule
    I</U> (the &ldquo;<B><I>Intercreditor Agreements</I></B>&rdquo;).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Optional
    Prepayments</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Optional prepayments of the Term Loans may
    be made at any time, subject to minimum notice and prepayment amount requirements, as the case may be, and subject to the call premiums
    specified herein. All prepayments of the Term Loans shall be permanent and may not be reborrowed.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding anything herein to the contrary,
    the Borrower shall have the option to (i)&nbsp;prepay the Term Loans outstanding in an amount up to &euro;50 million with the proceeds
    of Specified Entity Sales or other asset sales, subject only to a prepayment premium of 5.50% of the principal amount of Term Loans
    prepaid (in lieu of the prepayment premium described in the section &ldquo;Call Protection&rdquo; below) (the &ldquo;<B><I>Specified
    Entity Sale Prepayment</I></B>&rdquo;) or (ii)&nbsp;reinvest the proceeds from the Specified Entity Sales or other asset sales in
    a manner consistent with the reinvestment provisions described in clause (b)&nbsp;of &ldquo;Mandatory Prepayments&rdquo; and, if
    applicable, in compliance with the investment and restricted payments covenants.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Call
    Protection</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All prepayments on the applicable Term Loans
    (including any mandatory prepayments and including following acceleration or bankruptcy, but excluding the Specified Entity Sale
    Prepayment) shall be accompanied by the following prepayment premium:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a)&nbsp;from the Closing Date until the
    date that is eighteen (18) months after the Closing Date, the sum of (x)&nbsp;5.50% of the principal amount prepaid, plus (y)&nbsp;the
    present value on such date of all of the required interest payments payable on such principal amount from the date of the prepayment
    through and including the date that is eighteen (18) months after the Closing Date, computed using an assumed interest rate equal
    to the cash Interest Rate, plus if an event of default exists at the time such premium is deemed to be owing, the default rate (subject
    in the case of this clause (y), to a customary &ldquo;T+50&rdquo; discount);</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b)&nbsp;on or after the date that is eighteen
    months after the Closing Date until the third anniversary of the Closing Date, 5.50% of the principal amount prepaid;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c)&nbsp;on or after the third anniversary
    of the Closing Date until the fourth anniversary of the Closing Date, 2.75% of the principal amount prepaid;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d)&nbsp;on or after the fourth anniversary
    of the Closing Date, no prepayment premium shall be required.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Glatfelter Corporation<BR>
Glatfelter Luxembourg S.&agrave; r.l.<BR>
February 20, 2023 <BR>
Page 9 of 30&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; text-align: justify; font-size: 10pt; width: 29%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Mandatory
    Prepayments</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt; width: 71%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following amounts shall be applied to
    prepay the Term Loans:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in">(a)&#8239;&#8239;&#8239;100%
    of the net cash proceeds of any incurrence of debt by the Company and its subsidiaries (other than debt otherwise permitted under
    the Loan Documents);</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in">(b)&#8239;&#8239;&#8239;other
    than with respect to any Specified Entity Sales, 100% of the net cash proceeds in excess of $25 million of any other non-ordinary
    course sales or other dispositions of Term Priority Collateral (including as a result of loss, destruction, casualty or condemnation)
    by the Borrower and the Foreign Loan Parties; <I>provided</I> that the Company may reinvest up to $75,000,000 of such proceeds in
    assets useful in the business of the Company and its subsidiaries and, if applicable, in compliance with the investment and restricted
    payments covenants, within 18&nbsp;months following receipt; provided further that, (i)&nbsp;sales by Foreign Loan Parties must be
    reinvested in Foreign Loan Parties and (ii)&nbsp;sales by Domestic Guarantors must be reinvested in Loan Parties.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Representations
    and Warranties</B></FONT></TD>
    <TD STYLE="padding: 4pt 5.4pt; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limited
    to the following (applicable to Parent and its subsidiaries), in each case with customary exceptions, limitations and&nbsp;&nbsp;qualifications
    to be mutually agreed, and otherwise substantially consistent with the&nbsp;&nbsp;Amended Credit Agreement: organizational existence;
    organizational power and authority; due authorization, execution and delivery of the&nbsp;&nbsp;Loan Documents; enforceability of
    the&nbsp;&nbsp;Loan Documents; subsidiaries; certificates of beneficial ownership; no conflicts of the&nbsp;&nbsp;Loan Documents
    with material applicable law, organizational documents or material contractual obligations; litigation; ownership of property; financial
    statements; no Material Adverse Effect (as defined in the Amended Credit Agreement); use of proceeds; Federal Reserve margin regulations;
    accuracy of disclosure as of the Closing Date; taxes; governmental and third party approvals and consents (as such approvals and
    consents pertain to the&nbsp;&nbsp;Loan Documents); no event of default; ownership of intellectual property; insurance; compliance
    with law; material contracts and burdensome restrictions; Investment Company Act; ERISA and labor and employment matters; environmental
    matters; senior debt status; the PATRIOT Act; FCPA, OFAC, and U.S. anti-terrorism laws, anti-money laundering laws and, in the case
    of any applicable material jurisdictions with respect to the Loan Parties, as applicable, anti-corruption laws and sanction laws
    of relevant applicable foreign jurisdictions; affected financial institutions; the creation, validity, perfection and priority of
    security interests; anti-corruption laws; and COMI.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Glatfelter Corporation<BR>
Glatfelter Luxembourg S.&agrave; r.l.<BR>
February 20, 2023 <BR>
Page 10 of 30&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; text-align: justify; font-size: 10pt; width: 29%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Affirmative
    Covenants</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt; width: 71%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Substantially the same as set forth in the
    Amended Credit Agreement and will include a COMI covenant, an additional subsidiaries covenant, a further assurances covenant and
    a post-closing covenant in the Loan Documents to complete certain perfection matters (including delivery of customary legal opinions)
    with respect to the Collateral in a manner reasonably satisfactory to the Required Lenders (to be defined in the Loan Documents)
    within 60 days after the Closing Date (provided that certain actions with respect to real estate perfection and registration matters
    shall be undertaken within 90 days after the Closing and completed as soon as reasonably practicable thereafter), subject to such
    extensions as are reasonably agreed by the Agent acting on the written instruction of the Required Lenders; provided that, with respect
    to U.S. and Canadian perfection matters, such extensions shall apply solely to real estate matters and deposit account control agreements,
    and will permit automatic extensions under the Term Loan Facility solely with respect to U.S. and Canadian matters to the extent
    agreed to by the agent under the Amended Credit Agreement.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Affirmative covenants shall also include
    an undertaking that the Loan Parties shall ensure that no funds will be used in a manner which would constitute a &ldquo;use of proceeds
    in Switzerland&rdquo; as interpreted by Swiss tax authorities for purposes of Swiss withholding tax (<I>Verrechmungssteuer</I>),
    except and to the extent that a written confirmation or tax ruling countersigned by the Swiss Federal Tax Administration (<I>Eidgen&ouml;ssische
    Steuerverwalktung</I>) has been obtained confirming that the intended &ldquo;use of proceeds in Switzerland&rdquo; does not result
    in a facility qualifying as a Swiss financing for Swiss withholding tax (<I>Verrechmungssteuer</I>) purposes.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Glatfelter Corporation<BR>
Glatfelter Luxembourg S.&agrave; r.l.<BR>
February 20, 2023 <BR>
Page 11 of 30&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; text-align: justify; font-size: 10pt; width: 29%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Negative
    Covenants<SUP>1</SUP></B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt; width: 71%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Substantially the same as set forth in the
    Amended Credit Agreement, which will apply to Parent and its subsidiaries, except for the following:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following negative covenants will be
    added:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">1.&#8239;&#8239;&#8239;&#8239;&#8239;Limitation
    on indebtedness with respect to Parent and its subsidiaries, which, among other things, will limit the amount of the Revolving Facility
    and any permitted refinancing thereof to $300 million and will provide that the revolving credit facility and any refinancing thereof
    shall satisfy the following conditions: (i)&nbsp; any prepayment premium, call protection, exit fee or other similar fees or amounts
    payable under such financing shall not be greater than the amount of call protection payable under the Term Loan Facility, (ii)&nbsp;the
    final maturity date of such facility shall not be earlier than the maturity of the Term Loan Facility, (iii)&nbsp;such credit facility
    shall not be guaranteed by any person other than the Parent and the Guarantors, (iv)&nbsp;such credit facility shall not be secured
    by any lien on assets of Parent or any subsidiary, other than the Collateral, and (v)&nbsp;such credit facility shall not provide
    for scheduled principal payments (such limitation with respect to revolving credit facility and permitted refinancing thereof, the
    &ldquo;<B><I>Revolving Credit Facility Terms</I></B>&rdquo;); and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">2.&#8239;&#8239;&#8239;&#8239;&#8239;Limitation
    on prepayment of junior lien, subordinated or unsecured indebtedness.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following modifications to the covenants
    in the Amended Credit Agreement shall be made:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">1.&#8239;&#8239;&#8239;&#8239;&#8239;Limitations
    on intercompany transactions (including indebtedness, investments, restricted payments and dispositions) between (i)&nbsp;Foreign
    Loan Parties and non-Loan Parties and (ii)&nbsp;Foreign Loan Parties and Domestic Guarantors; <I>provided</I> that the foregoing
    limitation on investments and restricted payments consisting of cash from the Foreign Loan Parties to the Company shall be permitted
    in the ordinary course of business, consistent with past practice and to fund ongoing operations and expenses, including payments
    of interest and principal on indebtedness; <I>provided further, </I>that all such intercompany transactions shall in all cases and
    notwithstanding anything to the contrary in this Term Sheet be subject to no Payment Blockage Event (as defined below) and, if in
    the form of an intercompany loan, be expressly subordinated to the obligations under the Term Loan Facility and the Revolving Facility;.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">2.&#8239;&#8239;&#8239;&#8239;&#8239;Exception
    for Restricted Payments up to $40 million in any fiscal year to the extent the Company and its subsidiaries are producing Free Cash
    Flow (as defined below);</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">3.&#8239;&#8239;&#8239;&#8239;&#8239;Exception
    for junior lien indebtedness in an amount equal to $150,000,000, subject to agreed intercreditor agreements (including a European
    intercreditor agreement) and an equivalent basket under the Revolving Facility; and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">4.&#8239;&#8239;&#8239;&#8239;&#8239;Exception
    for dispositions of assets shall be an amount not to exceed 10% of the Consolidated Total Assets (to be defined in the Loan Documents).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;<B><I>Free Cash Flow</I></B>&rdquo;
    means cash flow from operations (determined in accordance with GAAP and excluding changes in assets and liabilities) <I>minus</I>
    capital expenditures (to be defined in the Loan Documents) <I>minus</I> the PIK Amount (if applicable).</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD><TD STYLE="text-align: justify">The
                                            Negative Covenants provisions are based on the draft Amended Credit Agreement provided to
                                            the Lenders on January 17, 2023. If the Negative Covenants provisions in the executed Amended
                                            Credit Agreement are more restrictive on Parent and its subsidiaries, then such more restrictive
                                            terms shall apply to the Term Loan Facility (except to the extent explicitly set forth in
                                            this Term Sheet).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Glatfelter Corporation<BR>
Glatfelter Luxembourg S.&agrave; r.l.<BR>
February 20, 2023 <BR>
Page 12 of 30&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; text-align: justify; font-size: 10pt; width: 29%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Financial
    Covenants<SUP>2</SUP></B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt; width: 71%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Secured Leverage Ratio</U></B>. Parent
    will not permit the Secured Leverage Ratio, measured as of the end of each fiscal quarter of Parent for the four (4)&nbsp;fiscal
    quarters then ended, to exceed (i)&nbsp;4.25 to 1.00 for any such fiscal quarter end occurring on or after March&nbsp;31, 2023 through
    and including the end of the fiscal quarter of Parent ending on December&nbsp;31, 2024, (ii)&nbsp;4.00 to 1.00 for any such fiscal
    quarter end occurring on and after March&nbsp;31, 2025 through and including the end of the fiscal quarter of Parent ending on December&nbsp;31,
    2025, and (iii)&nbsp;3.50 to 1.00 for any such fiscal quarter end occurring on and after March&nbsp;31, 2026.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Minimum Debt Service Coverage Ratio</U>.
    </B>Parent will not permit the Debt Service Coverage Ratio, measured as of the end of each fiscal quarter, for the four (4)&nbsp;fiscal
    quarters then ended, to be less than (i)&nbsp;1.25 to 1.0 for any such fiscal quarter end occurring on or after March&nbsp;31, 2023
    through and including the end of the fiscal quarter of Parent ending on September&nbsp;30, 2024, (ii)&nbsp;1.50 to 1.00 for any such
    fiscal quarter end occurring on and after December&nbsp;31, 2024 through and including the end of the fiscal quarter of Parent ending
    on September&nbsp;30, 2025, and (iii)&nbsp;2.00 to 1.00 for any such fiscal quarter end occurring on and after December&nbsp;31,
    2025.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Assignments
    and Participations </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Lenders will be permitted to assign commitments
    and loans with the consent of the Borrower (not to be unreasonably withheld, conditioned or delayed): <I>provided</I> that no consent
    of the Borrower, as applicable, shall be required (i)&nbsp;after the occurrence and during the continuance of a payment or bankruptcy
    event of default, or (iii)&nbsp;for assignments of commitments or loans to any existing Lender and an affiliate of an existing Lender;
    <I>provided</I>, <I>further</I>, that the consent of the Borrower, as applicable, shall be deemed to be given if it has not responded
    within 10 business days of a request for such consent. Assignments to any natural persons shall be prohibited. Each assignment will
    be in an amount of an integral multiple of $1.0 million or, in each case, if less, all of such Lender&rsquo;s remaining loans and
    commitments.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Lenders will be permitted to sell participations
    in Loans without restriction, other than as set forth in the next sentence. Voting rights of participants shall be limited to matters
    in respect of (a)&nbsp;increases in commitments participated to such participants, (b)&nbsp;reductions of principal, interest or
    fees, (c)&nbsp;extensions of final maturity or due date of any principal, interest or fees and (d)&nbsp;releases of all or substantially
    all of the Guarantors or all or substantially all of the Collateral (in each case, other than as permitted under the Loan Documents).</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>2</SUP></FONT></TD><TD STYLE="text-align: justify">The
                                            Financial Covenant provisions are based on the draft Amended Credit Agreement provided to
                                            the Lenders on January 17, 2023. If the Financial Covenant provisions in the executed Amended
                                            Credit Agreement are more restrictive on Parent and its subsidiaries, then such more restrictive
                                            terms shall apply to the Term Loan Facility.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Glatfelter Corporation<BR>
Glatfelter Luxembourg S.&agrave; r.l.<BR>
February 20, 2023 <BR>
Page 13 of 30&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; text-align: justify; font-size: 10pt; width: 29%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Conditions
    Precedent</B></FONT></TD>
    <TD STYLE="padding: 4pt 5.4pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify; font-size: 10pt; width: 71%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
    set forth only on Annex B.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Events
    of Default</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Same
    as set forth in the Amended Credit Agreement as of the Closing Date, with appropriate modifications to reflect the different security
    interests and nature of the Term Loan Facility.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Governing
    Law and Forum</B></FONT></TD>
    <TD STYLE="padding: 4pt 5.4pt; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    York</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Counsel
    to Agent</B></FONT></TD>
    <TD STYLE="padding: 4pt 5.4pt; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Simpson
    Thacher&nbsp;&amp; Bartlett LLP</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE I to TERM SHEET</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>Agreed Intercreditor Principles</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Intercreditor Agreements shall be reasonably satisfactory to the
Commitment Party and the lenders party to the Amended Credit Agreement and reflect the terms set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">The non-U.S. governed Intercreditor Agreement
                                            will be substantially based on the English law Loan Market Association recommended form of
                                            intercreditor agreement for leveraged acquisition finance transactions (the &ldquo;<B><I>LMA
                                            Form</I></B>&rdquo;) and will include, among other terms, the following terms:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">First lien shall rank in right and priority
                                            of payment and with respect to the proceeds of enforcement of security ahead of the second
                                            lien,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">b.</TD><TD>Common security for the first lien and second lien to be held on
                                            trust or equivalent by the Security Agent,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">Limitations on amendments to be mutually
                                            agreed upon with respect to increasing the interest rate, extending or shortening maturity
                                            and increasing the principal amount of indebtedness outstanding,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: justify">Cap on first lien indebtedness permitted
                                            under the Loan Documents set at a 20% cushion to the Closing Date level,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">e.</TD><TD STYLE="text-align: justify">Second lien payment blockage principles
                                            to be agreed, which shall be applicable after a first lien payment default, a negative covenant
                                            default (including, for the avoidance of doubt, under the financial covenants), collateral
                                            / guarantee defaults and insolvency defaults related to the Borrower or the Parent, as well
                                            as following an event of default and acceleration by the lenders under the Amended Credit
                                            Agreement (such events, &ldquo;<B><I>Payment Blockage Events</I></B>&rdquo;) (for the avoidance
                                            of doubt, (1)&nbsp;the non-U.S. governed Intercreditor Agreement shall not include any express
                                            restriction on (i)&nbsp;the ability of Parent, the Canadian Borrower or any other Domestic
                                            Loan Parties to borrow or repay amounts outstanding under the Amended Credit Agreement under
                                            any circumstances, (ii)&nbsp;the ability of any other non-U.S. Borrower to borrow or repay
                                            amounts outstanding under the Amended Credit Agreement, unless a Blockage Event has occurred
                                            or (iii)&nbsp;the ability of the Foreign Loan Parties to make investments or restricted payments
                                            in a manner consistent with the respective covenants in the Term Loan Facility, (2)&nbsp;such
                                            payment blockages shall be subject to customary time limits and number to be agreed and (3)&nbsp;notwithstanding
                                            the continuance of any payment blockage, the Foreign Loan Parties shall be permitted to make
                                            payments under the Amended Credit Agreement to the extent the source of such payments is
                                            from borrowings by the Parent under the Amended Credit Agreement or capital contributions
                                            by, or intercompany transfers of cash from, the Parent and the Domestic Guarantors to the
                                            Borrower and the Foreign Guarantors, in each case, that are made on and after the Closing
                                            Date).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">f.</TD><TD STYLE="text-align: justify">Exclusive enforcement by the Security
                                            Agent acting on the instructions of the first lien, subject to customary and mutually agreed
                                            upon second lien rights following second lien standstill period of 120 days and no ability
                                            for second lien to take action after the standstill period has elapsed if first lien has
                                            commenced and is diligently pursuing lien enforcement action(s)&nbsp;on the account of the
                                            first lien,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">g.</TD><TD STYLE="text-align: justify">Customary and mutually agreed upon LMA
                                            Form&nbsp;requirement for creditors to exercise voting rights in judicial proceedings as
                                            instructed by the Security Agent,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">h.</TD><TD STYLE="text-align: justify">Distressed disposals and fair value protections
                                            and safe harbours as set out in the LMA Form,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">Bailment for perfection of security interests
                                            over certain possessory and control collateral (to the extent such concept exists in the
                                            relevant jurisdiction),</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">j.</TD><TD STYLE="text-align: justify">Provisions allowing for junior lien debt
                                            to join into the applicable Intercreditor Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Glatfelter Corporation<BR>
Glatfelter Luxembourg S.&agrave; r.l. <BR>
February 20, 2023<BR>
Page 2 of 30</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>The U.S. governed Intercreditor Agreement shall contain, among other
                                            items, the following terms:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">First lien shall rank in right and priority
                                            of payment and with respect to the proceeds of enforcement of security ahead of the second
                                            lien.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">Exclusive enforcement by first lien,
                                            subject to customary and mutually agreed upon second lien rights, including, 120 day standstill
                                            period and no ability for second lien to take action after the standstill period has elapsed
                                            if first lien has commenced and is diligently pursuing lien enforcement action(s)&nbsp;on
                                            account of the first lien,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">Limitations on amendments to be mutually
                                            agreed upon with respect to increasing the interest rate, extending or shortening maturity
                                            and increasing the principal amount of indebtedness outstanding,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">d.</TD><TD>Cap on first lien indebtedness set at a 20% cushion to the Closing
                                            Date level,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">e.</TD><TD STYLE="text-align: justify">Second lien payment blockage principles
                                            to be agreed, which shall be applicable after a first lien payment default, a negative covenant
                                            default (including, for the avoidance of doubt, under the financial covenants), collateral
                                            / guarantee defaults and insolvency defaults related to the Loan Parties (as defined in the
                                            Amended Credit Agreement), as well as following an event of default and acceleration by the
                                            lenders under the Term Loan Facility (such events, &ldquo;Payment Blockage Events&rdquo;)
                                            (for the avoidance of doubt, (1)&nbsp;the U.S. governed Intercreditor Agreement shall not
                                            include any express restriction on (i)&nbsp;the ability of the Foreign Loan Parties to repay
                                            amounts outstanding under the Term Loan Facility under any circumstances, (ii)&nbsp;the ability
                                            of any other non-Foreign Loan Party to repay amounts outstanding under the Term Loan Facility,
                                            unless a Blockage Event has occurred or (iii)&nbsp;the ability of the Domestic Loan Parties
                                            to make investments or restricted payments in a manner consistent with the respective covenants
                                            in the Amended Credit Agreement, and (2)&nbsp;such payment blockages shall be subject to
                                            customary time limits and number to be agreed),</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">f.</TD><TD>Second lien buyout rights,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">g.</TD><TD STYLE="text-align: justify">Customary and mutually agreed upon provisions
                                            related to insolvency matters, including second lien consent to first lien provided DIP financing
                                            (subject to a mutually agreed cap), approval of assets sales, voting on a reorganization
                                            plan, granting adequate protection and replacement liens, requesting stay relief, and other
                                            customary and mutually agreed upon waivers and limitations,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">h.</TD><TD STYLE="text-align: justify">Customary and mutually agreed upon access
                                            rights and use of collateral for purposes of exercising remedies,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">i.</TD><TD STYLE="text-align: justify">Bailment for perfection of security interests
                                            over certain possessory and control collateral,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">j.</TD><TD STYLE="text-align: justify">Automatic Release (to be defined in the
                                            Loan Documents) of second liens in connection with a foreclosure or exercise of remedies
                                            by first lien or consensual dispositions following an Event of Default (only if such sale
                                            is in accordance with the terms of the second lien documents), and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">k.</TD><TD STYLE="text-align: justify">Provisions allowing for junior lien debt
                                            to join into the applicable Intercreditor Agreement or any additional customary and mutually
                                            agreed upon junior lien intercreditor agreement subject to agreed upon limitations</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNEX B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>Closing Conditions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The availability and initial funding of the Term
Loan Facility shall be subject to the satisfaction (or waiver) of solely the following conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify"><U>Loan Documentation</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Borrower and the Guarantors shall
have executed and delivered the Loan Documents to which it is a party, and the Agent and the Commitment Party shall have received customary
closing certificates, corporate approvals, secretary&rsquo;s or manager&rsquo;s certificates, borrowing notices, customary lien searches
in the jurisdiction of organization or formation, as applicable, and chief executive office of each Loan Party for the Borrower and the
Guarantors and a certificate of the chief financial officer (or other officer with reasonably equivalent responsibilities) of Parent
certifying that Parent and its Subsidiaries, on a consolidated basis, after giving effect to the Transactions, are solvent and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 34.3pt">(i)</TD><TD STYLE="text-align: justify">in the case of the Borrower and each Guarantor
                                            incorporated and existing under the laws of Luxembourg (the &ldquo;<B><I>Luxembourg Guarantors</I></B>&rdquo;
                                            and, together with the Borrower, the &ldquo;<B><I>Luxembourg Loan Parties</I></B>&rdquo;):</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 108pt"></TD><TD STYLE="width: 33.75pt">(A)</TD><TD STYLE="text-align: justify">attaching an excerpt of the Luxembourg
                                            Trade and Companies Register (<I>Registre de Commerce et des Soci&eacute;t&eacute;s, Luxembourg</I>)
                                            (the &ldquo;<B><I>RCS</I></B>&rdquo;) dated no earlier than one Business Day prior to the
                                            date of the Loan Agreement; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 108pt"></TD><TD STYLE="width: 33.75pt">(B)</TD><TD STYLE="text-align: justify">attaching an electronic certificate
                                            as to the non-inscription of a court decision (<I>certificat de non-inscription d&rsquo;une
                                            d&eacute;cision judiciaire ou de dissolution administrative sans liquidation</I>) issued
                                            by the RCS dated no earlier than one Business Day prior to the date of this Agreement certifying
                                            that no Luxembourg court decision as to inter alia bankruptcy (<I>faillite</I>), arrangement
                                            with creditors (<I>concordat pr&eacute;ventif de la faillite</I>), controlled management
                                            (<I>gestion contr&ocirc;l&eacute;e</I>), suspension of payments (<I>sursis de paiement</I>),
                                            liquidation (<I>liquidation judiciaire</I>) or foreign court decision as to bankruptcy (<I>faillite</I>),
                                            arrangement with creditors (<I>concordat pr&eacute;ventif de la faillite</I>) or other analogous
                                            procedures or administrative dissolution without liquidation (<I>dissolution administrative
                                            sans liquidation</I>) which must be filed with the RCS in accordance with the law of 19 December&nbsp;2002
                                            relating to the trade and companies&rsquo; register as well as the accounting and the annual
                                            accounts of companies, as amended, have been filed;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 108pt"></TD><TD STYLE="width: 33.75pt">(C)</TD><TD STYLE="text-align: justify">certifying that each Luxembourg Loan
                                            Party (A)&nbsp;is not subject to bankruptcy (<I>faillite</I>), insolvency, voluntary or judicial
                                            liquidation (<I>liquidation volontaire ou judiciaire</I>), composition with creditors (<I>concordat
                                            pr&eacute;ventif de la faillite</I>), reprieve from payment (<I>sursis de paiement</I>),
                                            controlled management (<I>gestion contr&ocirc;l&eacute;e</I>), administrative dissolution
                                            without liquidation (<I>dissolution administrative sans liquidation</I>), (B)&nbsp;is not
                                            in a state of cessation of payments (<I>cessation de payments</I>) and has not lost its commercial
                                            creditworthiness (<I>&eacute;branlement du cr&eacute;dit</I>); and (C)&nbsp;no application
                                            has been made by it or, as far as it is aware, by any other person for the appointment of
                                            a <I>commissaire</I>, <I>juge-commissaire, liquidateur</I>, <I>curateur</I> or similar officer
                                            pursuant to any insolvency or similar proceedings, and (D)&nbsp;to the best of its knowledge,
                                            no petition for the opening of such proceedings has been presented by it or by any other
                                            person entitled to do so;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 108pt"></TD><TD STYLE="width: 33.75pt">(D)</TD><TD STYLE="text-align: justify">certifying that the place of the central
                                            administration (<I>si&egrave;ge de l'administration centrale</I>) or the place of effective
                                            management (<I>si&egrave;ge de direction effective</I>) and the centre of main interests
                                            of each Luxembourg Loan Party is located at its registered office (<I>si&egrave;ge statutaire</I>)
                                            in Luxembourg and that each Luxembourg Loan Party has no establishment outside Luxembourg
                                            (each such terms as defined respectively in the Regulation (EU)2015/848 of the European Parliament
                                            and of the Council of 20 May&nbsp;2015 on insolvency proceedings (recast) or domestic Luxembourg
                                            law); and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 108pt"></TD><TD STYLE="width: 33.75pt">(E)</TD><TD STYLE="text-align: justify">as the case may be, certifying that
                                            each Luxembourg Loan Party is in compliance with the Luxembourg law dated 31 May&nbsp;1999
                                            on the domiciliation of companies, as amended (and the relevant regulations).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 34.3pt">(ii)</TD><TD STYLE="text-align: justify">in the case of each Guarantor incorporated
                                            and existing under the laws of Switzerland (the &ldquo;<B><I>Swiss Guarantors</I></B>&rdquo;):</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 108pt"></TD><TD STYLE="width: 33.75pt">(A)</TD><TD STYLE="text-align: justify">attaching an electronic copy of a certified
                                            and up-to-date extract from the commercial register ;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 108pt"></TD><TD STYLE="width: 33.75pt">(B)</TD><TD STYLE="text-align: justify">attaching an electronic copy of the
                                            certified and up-to-date articles of association; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 108pt"></TD><TD STYLE="width: 33.75pt">(C)</TD><TD STYLE="text-align: justify">attaching an electronic copy of the
                                            up-to-date register of beneficial owners.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 34.3pt">(iii)</TD><TD STYLE="text-align: justify">in the case of each Guarantor incorporated
                                            or established (as applicable) under the laws of Germany (a &ldquo;<B><I>German Guarantor</I></B>&rdquo;),
                                            a certificate of authorised representatives of the German Guarantor certifying that each
                                            copy document relating to it specified in this Annex&nbsp;B is correct, complete and in full
                                            force and effect and has not been amended or superseded as at a date no earlier than the
                                            date of the relevant Loan Document:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 108pt"></TD><TD STYLE="width: 33.75pt">(A)</TD><TD STYLE="text-align: justify">in respect of a German Guarantor incorporated
                                            in Germany and any general partner of a German Guarantor (as the case may be) which is incorporated
                                            as a German limited liability company (<I>GmbH</I>), attaching (x)&nbsp;a copy of an up-to-date
                                            commercial register extract (<I>Handelsregisterauszug</I>), (y)&nbsp;an up-to-date copy of
                                            the articles of association (<I>Satzung</I>) or partnership agreement (<I>Gesellschaftsvertrag</I>)
                                            and (z)&nbsp;an up-to-date copy of the list of shareholders (<I>Gesellschafterliste</I>);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 108pt"></TD><TD STYLE="width: 33.75pt">(B)</TD><TD STYLE="text-align: justify">in respect of a German Guarantor established
                                            as German limited partnership (<I>KG</I>), attaching (x)&nbsp;a copy of an up-to-date commercial
                                            register extract (<I>Handelsregisterauszug</I>) and (y)&nbsp;an up-to-date copy of the partnership
                                            agreement (<I>Gesellschaftsvertrag</I>);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 108pt"></TD><TD STYLE="width: 33.75pt">(C)</TD><TD STYLE="text-align: justify">attaching a copy of a resolution of
                                            the shareholders or partners of the German Guarantor approving the terms of, and the transactions
                                            contemplated, by the Loan Documents to which it is or will become a party;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 108pt"></TD><TD STYLE="width: 33.75pt">(D)</TD><TD STYLE="text-align: justify">if required, attaching a copy of a resolution
                                            of the supervisory board (<I>Aufsichtsrat</I>) and/or advisory board (<I>Beirat</I>) of such
                                            German Guarantor, approving the terms of, and the transactions contemplated by the Loan Documents
                                            to which it is or will become a party; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 108pt"></TD><TD STYLE="width: 33.75pt">(E)</TD><TD STYLE="text-align: justify">attaching a specimen of the signature
                                            of each person authorised to represent the German Guarantors in relation to the Loan Documents
                                            to which it is or will become a party and any related documents.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify"><U>Representations and Warranties</U>. The
                                            representations and warranties shall be true and correct in all material respects (except
                                            in the case of any representation or warranty which expressly relates to a given date or
                                            period, such representation and warranty shall be true and correct in all material respects
                                            as of the respective date or for the respective period, as the case may be); <I>provided
                                            </I>that to the extent that any of the representations or warranties are qualified by or
                                            subject to a &ldquo;material adverse effect&rdquo;, &ldquo;material adverse change&rdquo;
                                            or similar term or qualification, the definition thereof shall be a Material Adverse Effect
                                            for purposes of any such representations and warranties made or deemed made on, or as of,
                                            the Closing Date (or any date prior thereto).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify"><U>Refinancing and Amended Credit Agreement</U>.
                                            (i)&nbsp;The Refinancing shall have been consummated and the Amended Credit Agreement shall
                                            have been executed prior to or substantially concurrently with the initial borrowing under
                                            the Term Loan on the Closing Date and (2)&nbsp;subject to the affirmative covenant described
                                            in the Term Sheet that permits certain perfection matters to be performed within the specified
                                            time periods after the Closing Date, any first liens granted to the agent under the Existing
                                            Credit Agreement in foreign (other than Canadian) Collateral shall have been released or
                                            converted to a second lien security interest in accordance with the terms set forth in this
                                            Term Sheet.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify"><U>Collateral</U>. Subject to the affirmative
                                            covenant described in the Term Sheet that permits certain perfection matters to be performed
                                            within the specified time periods after the Closing Date, the Agent shall have received evidence
                                            reasonably satisfactory to it that (a)&nbsp;all actions necessary to establish that the Agent
                                            for the benefit of the Lenders will have a perfected (or, in the case of Swiss Collateral,
                                            valid) security interest in the Collateral (subject to the liens permitted under the Loan
                                            Documents) shall have been taken, (b)&nbsp;the guarantees by the Guarantors shall have been
                                            executed and be in full force and effect and (c)&nbsp;with respect to any land charge(s)&nbsp;to
                                            be granted over real properties located in Germany, customary notary confirmations satisfactory
                                            to the Security Agent (acting reasonably). For the avoidance of doubt, collateral documentation
                                            governing the intellectual property owned by the Swiss entities and the shares of the Swiss
                                            entities shall be in full force and effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify"><U>Legal opinions.</U> Agent shall have received
                                            customary legal opinions, addressed to the Lenders and the Agent, in form and substance satisfactory
                                            to the Lenders in the following jurisdictions (provided that certain opinions related to
                                            perfection matters that are performed within the specified time periods after the Closing
                                            Date as set forth in the affirmative covenants described in the Term Sheet may be provided
                                            at such later time):</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify">United States: Counsel to the Borrower
                                            to provide opinions with respect to (a)&nbsp;the applicable Loan Parties&rsquo; capacity
                                            to enter into and (b)&nbsp;enforceability of the Loan Documents.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">Canada: Counsel to the Borrower to provide
                                            opinions with respect to (a)&nbsp;the applicable Loan Parties&rsquo; capacity to enter into
                                            and (b)&nbsp;enforceability of the Loan Documents.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">United Kingdom: Counsel to the Lenders
                                            to provide opinions with respect to (a)&nbsp;the applicable Loan Parties&rsquo; capacity
                                            to enter into and (b)&nbsp;enforceability of the Loan Documents.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD STYLE="text-align: justify">Malta: Counsel to the Lenders to provide
                                            opinions with respect to (a)&nbsp;the applicable Loan Parties&rsquo; capacity to enter into
                                            and (b)&nbsp;enforceability of the Loan Documents.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(v)</TD><TD STYLE="text-align: justify">Luxembourg: (a)&nbsp;Counsel to the Borrowers
                                            to provide opinion with respect to the applicable Loan Parties&rsquo; capacity to enter into
                                            the Loan Documents and (b)&nbsp;Counsel to the Lenders to provide opinion with respect to
                                            enforceability of the Loan Documents.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(vi)</TD><TD STYLE="text-align: justify">Germany: (a)&nbsp;Counsel to the Borrowers
                                            to provide opinion with respect to the applicable Loan Parties&rsquo; capacity to enter into
                                            the Loan Documents and (b)&nbsp;Counsel to the Lenders to provide opinion with respect to
                                            enforceability of the German law governed Loan Documents.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(vii)</TD><TD STYLE="text-align: justify">France: (a)&nbsp;Counsel to the Borrowers
                                            to provide opinion with respect to the applicable Loan Parties&rsquo; capacity to enter into
                                            the Loan Documents and (b)&nbsp;Counsel to the Lenders to provide opinion with respect to
                                            enforceability of the Loan Documents.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">(viii)</TD><TD STYLE="text-align: justify">Switzerland: (a)&nbsp;Counsel to the
                                            Borrowers to provide opinion with respect to the applicable Loan Parties&rsquo; capacity
                                            to enter into the Loan Documents and (b)&nbsp;Counsel to the Lenders to provide opinion with
                                            respect to enforceability of the Loan Documents.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">No default or event of default under the Loan
                                            Documents or the Amended Credit Agreement shall have occurred or shall result from the making
                                            of the Term Loans on the Closing Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify">(a)&nbsp;All fees required to be paid on the
                                            Closing Date pursuant to the Fee Letter and (b)&nbsp;all expenses required to be paid on
                                            the Closing Date pursuant to the Commitment Letter to the extent invoiced at least&nbsp;3
                                            business days prior to the Closing Date, shall have been paid (which amounts may, at the
                                            option of the Borrower be offset against the proceeds of the initial drawings under the Term
                                            Loan Facility).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify">The Agent and the Commitment Party shall have
                                            received, no later than 3&nbsp;business days in advance of the Closing Date, all documentation
                                            and other information reasonably required by regulatory authorities under applicable &ldquo;know
                                            your customer&rdquo; and anti-money laundering rules&nbsp;and regulations, including, without
                                            limitation, the PATRIOT Act, that has been reasonably requested by the Agent and the Commitment
                                            Party at least 10&nbsp;business days in advance of the Closing Date, including a certification
                                            as to the beneficial owner of the Company as required by the Beneficial Ownership Regulation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify">Since December&nbsp;31, 2022, there has been
                                            no event or circumstance, either individually or in the aggregate, that has had or could
                                            reasonably be expected to have a Material Adverse Effect.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.</TD><TD STYLE="text-align: justify">The Company&rsquo;s filed 2022 10-K shall
                                            be substantially consistent with the draft 10-K delivered to the Commitment Party (or its
                                            counsel) at [TIME] on February&nbsp;20, 2023.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>ANNEX C</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>Financial Definitions<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>3</SUP></FONT></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>&ldquo;Consolidated Adjusted
EBITDA&rdquo;</U> shall mean, for any period, Consolidated EBITDA adjusted to include (without duplication) the pro forma effects of
acquisitions and divestitures (not including timberland property sales) made during such period, excluding the EBITDA of divested Persons,
but including historical EBITDA of acquired Persons as if such acquisition or divestiture had been consummated on the first day of such
period. Any such adjustment to Consolidated EBITDA shall be made for four (4)&nbsp;fiscal quarters, starting with the fiscal quarter
in which the transaction giving rise to such adjustment was consummated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>&ldquo;Consolidated Debt
Service&rdquo;</U> shall mean, for any period of determination, interest expense and scheduled principal installments on Indebtedness
(as adjusted for prepayments), in each case of the Company and its Subsidiaries for such period determined and consolidated in accordance
with GAAP; provided that Consolidated Debt Service shall not include any interest expense and scheduled principal installments with respect
to the existing term loan facility under the Existing Credit Agreement or any scheduled principal installment due prior to the Closing
Date; provided further that any payments of principal that are funded with the proceeds of the other Indebtedness shall be excluded for
the purposes of this calculation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>&ldquo;Consolidated EBITDA&rdquo;
</U>shall mean, as of the end of any fiscal quarter: (i)&nbsp;EBITDA of the Company and its Subsidiaries on a consolidated basis for
the immediately preceding four fiscal quarters, plus (without duplication) (ii)&nbsp;the aggregate gain on sale of timberland properties,
as determined in accordance with GAAP, made within the four immediately preceding fiscal quarters, net of any losses on such sales, <U>provided
</U>that the amount of the net gain on sale of timberland properties included in the calculation of Consolidated EBITDA under this clause&nbsp;(ii)&nbsp;may
not exceed $2,000,000.00, plus (without duplication) (iii)&nbsp;the amount of pro forma &ldquo;run rate&rdquo; cost savings, operating
expense reductions and synergies (net of actual amounts realized) related to (x)&nbsp;the Company&rsquo;s acquisition of the U.S. nonwovens
business of Georgia-Pacific LLC pursuant to that certain Share Purchase Agreement, dated as of January&nbsp;5, 2021, by and between the
Company and GPPC Equity Holdings LLC, (y)&nbsp;the Project Jupiter Transactions and/or (z)&nbsp;any other investments or acquisitions
permitted under this Agreement, in each case that are reasonably identifiable, factually supportable and projected by the Company in
good faith to result from actions that have been taken or with respect to which substantial steps have been taken or are expected to
be taken, in the good faith determination of the Company, within 24 months after the closing date of the applicable acquisition or investment
giving rise to such savings, reductions and synergies (provided that the aggregate amount added pursuant to this clause&nbsp;(iii)&nbsp;shall
not exceed 20% of the Consolidated EBITDA of the Company and its Subsidiaries (calculated prior to giving effect to any such amount added
pursuant to this clause&nbsp;(iii)) for the immediately preceding four fiscal quarters, <U>provided</U>, <U>further</U>, that Consolidated
EBITDA shall exclude (a)&nbsp;non-recurring third party transaction costs relating to an actual or proposed acquisition, divestiture,
business optimization activity or other investment, regardless of whether consummated, such as (x)&nbsp;legal expenses, third party due
diligence costs, transaction advisory services, hedging costs and financing fees and (y)&nbsp;project management and integration costs
incurred within one year of consummation of the transactions giving rise to such non-recurring costs; (b)&nbsp;non-recurring third party
transaction costs relating to the closing of this Agreement, any other borrowing or incurrence of Indebtedness (or commitments in respect
thereof) and repayment or early redemption of Indebtedness such as (x)&nbsp;legal expenses, and (y)&nbsp;fees or other charges pursuant
to the prepayment or redemption of Indebtedness; (c)&nbsp;to the extent deducted in calculating net income, non-cash charges and expenses
(including, for the avoidance of doubt, non-cash stock compensation expense and impairment charges); (d)&nbsp;to the extent deducted
in calculating net income, extraordinary, unusual or non-recurring charges, costs or expenses in an aggregate amount not to exceed (x)&nbsp;$40,000,000.00
for the time period beginning on the Second Amendment Closing Date and ending on the Expiration Dateand (y)&nbsp;$30,000,000 in 2023
related to Project Eagle; (e)&nbsp;to the extent deducted in calculating net income, severance and similar employee termination expenses
or charges; and (f)&nbsp;to the extent included in calculating net income, extraordinary, unusual or non-recurring non-cash gains; <U>provided
</U>that, without counting towards any of the foregoing limitations, Consolidated EBITDA for the fiscal quarter ended March&nbsp;31,
2022 shall be deemed to be $[ ], Consolidated EBITDA for the fiscal quarter ended June&nbsp;30, 2022 shall be deemed to be $[ ], Consolidated
EBITDA for the fiscal quarter ended September&nbsp;30, 2022 shall be deemed to be $[ ], and Consolidated EBITDA for the fiscal quarter
ended December&nbsp;31, 2022 shall be deemed to be $[ ].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>3</SUP></FONT></TD><TD STYLE="text-align: justify">The
                                            Financial Definitions herein (other than the &ldquo;Consolidated EBITDA&rdquo; definition)
                                            are based on the draft Amended Credit Agreement provided to the Lenders on January 17, 2023.
                                            If the Financial Definitions in the executed Amended Credit Agreement are more restrictive
                                            on Parent and its subsidiaries, then such more restrictive terms shall apply to the Term
                                            Loan Facility.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>&ldquo;Consolidated Total
Assets&rdquo;</U> shall mean, at any time, the total consolidated assets of Parent and its Subsidiaries measured as of the last day of
the fiscal year ending on or prior to the date of determination, as determined in accordance with GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><U>&ldquo;Consolidated Total Secured Debt&rdquo;
</U>shall mean, as of any date of determination, all long and short term Indebtedness of the Company and its Subsidiaries that is on
such date secured by a Lien on assets of a Loan Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>&ldquo;Debt Service Coverage
Ratio&rdquo;</U> shall mean, as of any date of determination, the ratio of (A)&nbsp;Consolidated Adjusted EBITDA to (B)&nbsp;Consolidated
Debt Service, in each case of (A)&nbsp;and (B)&nbsp;(i)&nbsp;for the four (4)&nbsp;fiscal quarters then ended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>&ldquo;Indebtedness&rdquo;
</U>shall mean, without duplication, as to any Person at any time in respect of: (i)&nbsp;borrowed money, any and all indebtedness, obligations
or liabilities (whether matured or unmatured, liquidated or unliquidated, direct or indirect, absolute or contingent, or joint or several)
of such Person, (ii)&nbsp;amounts raised under or liabilities in respect of any note purchase or acceptance credit facility, (iii)&nbsp;net
reimbursement obligations (contingent or otherwise) under any letter of credit agreement, (iv)&nbsp;net obligations under any currency
swap agreement, interest rate swap, cap, collar or floor agreement or other interest rate management device: (A)&nbsp;in the case of
any such agreement that has been closed out, in an amount equal to the termination value thereof, and (B)&nbsp;in the case of any such
agreement that has not been closed out, in an amount equal to the mark to market value thereof determined on the basis of readily available
quotations provided by any recognized dealer in such agreements, (v)&nbsp;any other transaction (including forward sale or purchase agreements,
capitalized leases and conditional sales agreements) having the commercial effect of a borrowing of money entered into by such Person
to finance its operations or capital requirements (but not including trade payables and accrued expenses which are not represented by
a promissory note or other evidence of indebtedness), (vi)&nbsp;the outstanding amount of any Permitted Accounts Receivable Program,
or (vii)&nbsp;any Guaranty of Indebtedness referred to in clauses (i)&nbsp;through (v)&nbsp;above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>&ldquo;Permitted EBITDA
Add Back&rdquo;</U> shall mean, to the extent such expenses or charges are deducted in the computation of net income of the Loan Parties
in their computation of EBITDA during the period specified, with appropriate adjustments for the tax effects of such add-backs, expenses
or charges incurred by the Loan Parties in connection with environmental response and remediation, the presence of contamination, natural
resource damages or reimbursement of the EPA for incurred costs at the Fox River site, Wisconsin, OU2-5, <U>provided</U> that the total
amount of such charges incurred during the term of this Agreement may not exceed $80,000,000.00.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>&ldquo;Secured Leverage
Ratio&rdquo;</U> shall mean, as of any date of determination, the ratio of (A)&nbsp;Consolidated Total Secured Debt on such date to (B)&nbsp;Consolidated
Adjusted EBITDA for the four fiscal quarters then ended</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>5
<FILENAME>glt-20230220_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.22.4</span><table class="report" border="0" cellspacing="2" id="idm140680529456368">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Feb. 20, 2023</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Feb. 20,  2023<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-03560<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">Glatfelter Corporation<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000041719<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">23-0628360<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">PA<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">4350 Congress Street<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Suite 600<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Charlotte<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">NC<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">28209<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">704<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">885-2555<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">GLT<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">dei_Security12bTitle</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
