<SEC-DOCUMENT>0001140361-20-019013.txt : 20200825
<SEC-HEADER>0001140361-20-019013.hdr.sgml : 20200825
<ACCEPTANCE-DATETIME>20200825134326
ACCESSION NUMBER:		0001140361-20-019013
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		16
CONFORMED PERIOD OF REPORT:	20200824
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200825
DATE AS OF CHANGE:		20200825

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TREDEGAR CORP
		CENTRAL INDEX KEY:			0000850429
		STANDARD INDUSTRIAL CLASSIFICATION:	ROLLING DRAWING & EXTRUDING OF NONFERROUS METALS [3350]
		IRS NUMBER:				541497771
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10258
		FILM NUMBER:		201130988

	BUSINESS ADDRESS:	
		STREET 1:		1100 BOULDERS PKWY
		CITY:			RICHMOND
		STATE:			VA
		ZIP:			23225
		BUSINESS PHONE:		8043301000

	MAIL ADDRESS:	
		STREET 1:		1100 BOULDERS PARKWAY
		CITY:			RICHMOND
		STATE:			VA
		ZIP:			23225

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TREDEGAR INDUSTRIES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">UNITED STATES</div>

    <span style="font-size: 14pt;"> </span>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>

    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 12pt; font-weight: bold;">WASHINGTON, DC 20549</div>

    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 18pt; font-weight: bold;">FORM <ix:nonNumeric name="dei:DocumentType" id="Fact_b83870767f1944269bfcdf40d9baaa6b" contextRef="c20200824to20200824">8-K</ix:nonNumeric></div>

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      </span> </div>

    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CURRENT REPORT</div>

    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Pursuant to Section 13 or 15(d) of the</div>

    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Securities Exchange Act of 1934</div>

    <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br />
      </span> </div>

    <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Date of Report (Date of earliest event reported): August 25, 2020 (<ix:nonNumeric name="dei:DocumentPeriodEndDate" id="Fact_19fce9e0beae4946993d169623fa5f9b" contextRef="c20200824to20200824" format="ixt:datemonthdayyearen">August 24, 2020</ix:nonNumeric>)</div>

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    </div>

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    <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold; font-size: 24pt;"><span style="-sec-ix-hidden:Fact_17569890b14d45f08a3bcd5df9f03960">Tredegar Corporation</span><br />
            </div>
          </td>

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    <td rowspan="1" style="width: 100%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(Exact Name of Registrant as Specified in its Charter)</div>
          </td>

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    <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br />
      </span> </div>

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    <td style="width: 32.85%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center; font-weight: bold;"><ix:nonNumeric name="dei:EntityIncorporationStateCountryCode" id="Fact_949284d30f5249f7bd69dd92acafb423" contextRef="c20200824to20200824" format="ixt-sec:stateprovnameen">Virginia</ix:nonNumeric><br />
          </td>

    <td style="width: 34.15%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"><span style="font-weight: bold;"><ix:nonNumeric name="dei:EntityFileNumber" id="Fact_a4acfa769bcb49b2b829c500176960df" contextRef="c20200824to20200824">1-10258</ix:nonNumeric></span><br />
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            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><ix:nonNumeric name="dei:EntityTaxIdentificationNumber" id="Fact_57eb303886b1436d90e1d3c54b3904f5" contextRef="c20200824to20200824">54-1497771</ix:nonNumeric><br />
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    <td style="width: 32.85%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(State or Other Jurisdiction of Incorporation)</div>
          </td>

    <td style="width: 34.15%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(Commission File Number)</div>
          </td>

    <td style="width: 32.99%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(IRS Employer Identification No.)</div>
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      </span> </div>

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            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><ix:nonNumeric name="dei:EntityAddressAddressLine1" id="Fact_60360939443d47c8a4922262c670ec36" contextRef="c20200824to20200824">1100 Boulders Parkway</ix:nonNumeric><br />
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            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><ix:nonNumeric name="dei:EntityAddressCityOrTown" id="Fact_1c2240fd36654833b9d6806af392ea27" contextRef="c20200824to20200824">Richmond</ix:nonNumeric>, <ix:nonNumeric name="dei:EntityAddressStateOrProvince" id="Fact_38be3389764b4186ac26883f8138edb9" contextRef="c20200824to20200824" format="ixt-sec:stateprovnameen">Virginia</ix:nonNumeric></div>
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    <td rowspan="1" style="width: 2%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt; padding-bottom: 2px;">&#160;</td>

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    <td style="width: 65%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(Address of Principal Executive Offices)</div>
          </td>

    <td style="width: 2%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</td>

    <td style="width: 33%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(Zip Code)</div>
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      </span> </div>

    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Registrant's telephone number, including area code: <span style="font-weight: bold;">(<ix:nonNumeric name="dei:CityAreaCode" id="Fact_73f142520677488e86070019720dbcd5" contextRef="c20200824to20200824">804</ix:nonNumeric>) <ix:nonNumeric name="dei:LocalPhoneNumber" id="Fact_20833cd46adc46f7ae11fc0e2f87d69f" contextRef="c20200824to20200824">330-1000</ix:nonNumeric></span></div>

    <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br />
      </span> </div>

    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(Former Name or Former Address, if Changed Since Last Report)</div>

    <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br />
      </span> </div>

    <div style="text-align: justify; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the
      following provisions (<span style="font-style: italic;">see</span> General Instruction A.2. below):</div>

    <div><br />
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    <td style="vertical-align: top; width: 27pt;"><ix:nonNumeric name="dei:WrittenCommunications" id="Fact_51f5e14d4ed343b7ac31a816fb5d7ecd" contextRef="c20200824to20200824" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric><br />
              </td>

    <td style="vertical-align: bottom; width: auto; text-align: left;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
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    </span></div>

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    <td style="vertical-align: top; width: 27pt;"><ix:nonNumeric name="dei:SolicitingMaterial" id="Fact_d4460d0fdfda40c3b0697f5321c82380" contextRef="c20200824to20200824" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric><br />
            </td>

    <td style="vertical-align: bottom; width: auto; text-align: left;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
            </td>

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      <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z7b7bb2200b3045ba9030eba082b62574" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">


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    <td style="vertical-align: top; width: 27pt;"><ix:nonNumeric name="dei:PreCommencementTenderOffer" id="Fact_10f1779e93854e7a864fec912dc4e056" contextRef="c20200824to20200824" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric><br />
            </td>

    <td style="vertical-align: bottom; width: auto; text-align: left;">
              <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
            </td>

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<div><span style="font-family: 'Times New Roman'; font-size: 10pt;"></span>
   <span style="font-family: 'Times New Roman'; font-size: 10pt;"></span> <span style="font-family: 'Times New Roman'; font-size: 10pt;"></span></div>

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        <div style="font-family: 'Times New Roman'; font-size: 10pt;"> <br />
        </div>

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    <td style="vertical-align: top; width: 27pt;"><ix:nonNumeric name="dei:PreCommencementIssuerTenderOffer" id="Fact_d9b8806b807a4c67a70a53555892b3ac" contextRef="c20200824to20200824" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric><br />
              </td>

    <td style="vertical-align: bottom; width: auto; text-align: left;">
                <div>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
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        <div> <br />
        </div>

        Securities registered pursuant to Section 12(b) of the Act:</div>

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      </div>

      <table cellspacing="0" cellpadding="0" border="0" id="zad0be45af1424acb977ed4891e53dfae" style="border-collapse: collapse; width: 70%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left; margin-left: auto; margin-right: auto;">


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    <td style="width: 30%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Title of each class</div>
            </td>

    <td style="width: 10%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Trading</div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> Symbol(s)</div>
            </td>

    <td style="width: 30%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Name of each exchange on</div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"> which registered</div>
            </td>

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    <td style="width: 30%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_cda0a874b3df4999ae8996490b524a4a" contextRef="c20200824to20200824">Common stock, no par value</ix:nonNumeric><br />
              </div>
            </td>

    <td style="width: 10%; vertical-align: bottom; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); text-align: center;"><ix:nonNumeric name="dei:TradingSymbol" id="Fact_21a6febe96dc4d1eb849f8f858f414b7" contextRef="c20200824to20200824">TG</ix:nonNumeric><br />
            </td>

    <td style="width: 30%; vertical-align: bottom; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_97641c61974f49a5b9ba4789fef4a0ea" contextRef="c20200824to20200824" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br />
              </div>
            </td>

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      <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>

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

      <div style="font-family: 'Times New Roman'; font-size: 10pt;">
        <div><br />
        </div>

      </div>

      <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">Emerging growth company <ix:nonNumeric name="dei:EntityEmergingGrowthCompany" id="Fact_49ab51ecd39741719efc6761a49aedbc" contextRef="c20200824to20200824" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric></div>

      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"> <br />
      </div>

      <div style="text-align: right; text-indent: 36pt; margin-left: 288pt; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman';"></span></div>

      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman';">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended
          transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.</span><span style="font-size: 10pt; font-family: 'Times New Roman';">&#160;&#9744;</span><span style="font-size: 10pt; font-family: 'Times New Roman';"></span></div>

      <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman';"> <br />
        </span></div>

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          <hr style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;" /><span style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;"></span>
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              <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" /></div>

          </div>

          <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">Item 1.01.</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;<span style="font-weight: bold;">Entry Into a Material Definitive Agreement.</span></span></div>

          <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br />
            </span> </div>

          <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">On August 24, 2020, Tredegar Corporation (the &#8220;Company&#8221;), Tredegar Far East Corporation, Tredegar Film Products (Latin America), Inc., and Tredegar
            Investments, LLC (each of which is a subsidiary of the Company, and collectively with the Company, the &#8220;Sellers&#8221;) entered into a Purchase and Sale Agreement (the &#8220;Purchase Agreement&#8221;) with Fitesa Nao Tecidos S.A., Fitesa US LLC and Miramar
            Participa&#231;&#245;es Ltda (collectively, the &#8220;Buyers&#8221;) and, for the purposes of guaranteeing Buyers&#8217; payment and performance obligations under the Purchase Agreement and for the other limited purposes set forth in the Purchase Agreement, other than
            for Miramar Participa&#231;&#245;es Ltda, Fitesa S.A. (&#8220;Buyers&#8217; Parent&#8221;), pursuant to which the Buyers agreed to purchase from the Sellers, and the Sellers agreed to sell to the Buyers (the &#8220;Transaction&#8221;), 100% of the issued and outstanding equity
            interests of Tredegar Film Products LLC, Tredegar Film Products India Private Limited and Tredegar Brasil Ind&#250;stria De Pl&#225;sticos Ltda. for an aggregate purchase price of approximately $60.5 million (estimated pretax cash proceeds after
            transaction costs, purchase price adjustments and transition services of $40 to $45 million).&#160; Net cash income tax costs or benefits for the Company relating to the Transaction are expected to be negligible.</div>

          <div><br />
          </div>

          <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">The Company&#8217;s subsidiaries included in the Transaction comprise the Company&#8217;s Personal Care Films business, which is currently reported by the
            Company within the personal care component of its PE Films segment.&#160;&#160; The Transaction excludes the packaging film lines and operations relating to the Pottsville, Pennsylvania manufacturing site also currently reported by the Company within the
            personal care component of its PE Films segment (&#8220;Pottsville Packaging&#8221;).</div>

          <div><br />
          </div>

          <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">The Purchase Agreement contains customary representations, warranties, covenants, agreements and indemnification obligations of the Sellers, the
            Buyers and the Buyers&#8217; Parent.</div>

          <div><br />
          </div>

          <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Completion of the Transaction (the &#8220;Closing&#8221;) is expected to occur during the fourth quarter of 2020. The Closing is contingent upon the
            satisfaction of customary closing conditions set forth in the Purchase Agreement, including the receipt of certain competition filing approvals, the accuracy of each party&#8217;s representations and warranties (subject to certain exceptions) and the
            performance in all material respects by each of the parties of its covenants and agreements. The Closing is not subject to a financing condition. The Purchase Agreement also includes customary termination provisions, including if the closing of
            the Transaction has not occurred on or before November 30, 2020, which can be extended under certain, specific circumstances to December 31, 2020.</div>

          <div><br />
          </div>

          <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">At Closing, the Company and Fitesa US LLC will enter into a transition services agreement pursuant to which the Company and certain of its
            affiliates, will provide certain payroll, facility access, accounting and information technology services to support the Buyers and Buyers&#8217; Parent in the ongoing operations of the Personal Care Business.</div>

          <div><br />
          </div>

          <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the Purchase
            Agreement, a copy of which is attached hereto as Exhibit 2.1 and is incorporated herein by reference.</div>

          <div><br />
          </div>

          <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">The above description of the Purchase Agreement has been included to provide information regarding the terms of the Purchase Agreement. It is not
            intended to provide any other information about the Company, the Sellers, the Buyers, the Buyers&#8217; Parent or their respective subsidiaries or affiliates. The Purchase Agreement contains representations and warranties of the parties thereto that
            were made solely for the benefit of the other party. The assertions embodied in those representations and warranties are qualified by information in confidential disclosure schedules that the parties have exchanged in connection with signing
            the Purchase Agreement. The disclosure schedules contain information that modifies, qualifies and creates exceptions to the representations and warranties set forth in the Purchase Agreement. In addition, such representations and warranties may
            apply a contractual standard of materiality that is different from that generally applicable to shareholders. The representations and warranties were made for the purposes of allocating contractual risk between the parties to the Purchase
            Agreement and should not be relied upon as a disclosure of factual information relating to the parties thereto or the Company.</div>

          <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br />
          </div>

          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div style="page-break-after: always;">
              <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" /></div>

          </div>

          <div>
            <div>
              <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zf76ab5ad26ba45a8a9809dd9a1504146" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">


  <tr style="vertical-align: top;">

    <td style="vertical-align: top; width: 63pt;">
                      <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 7.01.</div>
                    </td>

    <td style="align: left; vertical-align: top; width: auto;">
                      <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Regulation FD Disclosure.</div>
                    </td>

  </tr>


</table>
            </div>

          </div>

          <div> <br />
          </div>

          <div style="text-align: left; text-indent: 36pt; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">On August 25, 2020, the Company issued a press release announcing the Transaction. A copy of the press release is attached hereto
            as Exhibit 99.1 and is incorporated in this Item 7.01 by reference.</div>

          <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br />
            </span> </div>

          <div style="text-align: left; text-indent: 36pt; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">In accordance with General Instruction B.2 of Form 8-K, the information in Item 7.01 of this Current Report on Form 8-K, including
            Exhibit 99.1, shall not be deemed &#8220;filed&#8221; for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing
            or other document pursuant to&#160; the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.</div>

          <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br />
            </span> </div>

          <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">


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    <td style="vertical-align: top; width: 63pt;">
                  <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 9.01.</div>
                </td>

    <td style="align: left; vertical-align: top; width: auto;">
                  <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Financial Statement and Exhibits.</div>
                </td>

  </tr>


</table>
          <span style="font-family: 'Times New Roman'; font-size: 10pt;"></span></div>

        <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"></span></div>

        <span style="font-family: 'Times New Roman'; font-size: 10pt;"></span>
        <div><br />
        </div>

        <div>
          <div>
            <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z9240ef1300e4429a9104bb38dbe7eb7e" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;">


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    <td style="width: 27pt;">&#160;</td>

    <td style="vertical-align: top; width: 36pt;">
                    <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(d)</div>
                  </td>

    <td style="align: left; vertical-align: top; width: auto;">
                    <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">Exhibits</span><span style="font-family: 'Times New Roman'; font-size: 10pt;">.</span></div>
                  </td>

  </tr>


</table>
          </div>

        </div>

        <br />
        <span style="font-family: 'Times New Roman'; font-size: 10pt;"></span>
        <div>
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  <tr>

    <td colspan="1" style="vertical-align: top; width: 10%;">&#160;</td>

    <td style="width: 7%; vertical-align: top;">
                  <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><a href="brhc10014630_ex2-1.htm">2.1</a></div>
                </td>

    <td style="width: 83%; vertical-align: top;">
                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">Purchase and Sale Agreement, dated as of August 24, 2020,</span><span style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</span><span style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">by and among Fitesa Nao Tecidos S.A., Fitesa US LLC, Miramar Participa&#231;&#245;es Ltda, Tredegar
                      Corporation, Tredegar Far East Corporation, Tredegar Film Products (Latin America), Inc., Tredegar Investments, LLC and Fitesa S.A.</span></div>
                </td>

  </tr>

  <tr>

    <td colspan="1" rowspan="1" style="vertical-align: top; width: 10%;">&#160;</td>

    <td rowspan="1" style="width: 7%; vertical-align: top;">&#160;</td>

    <td rowspan="1" style="width: 83%; vertical-align: top;">&#160;</td>

  </tr>

  <tr>

    <td colspan="1" style="vertical-align: top; width: 10%;">&#160;</td>

    <td style="width: 7%; vertical-align: top;">
                  <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><a href="brhc10014630_ex99-1.htm">99.1</a></div>
                </td>

    <td style="width: 83%; vertical-align: top;">
                  <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">Press release issued on August 25, 2020</div>
                </td>

  </tr>

  <tr>

    <td colspan="1" rowspan="1" style="vertical-align: top; width: 10%;">&#160;</td>

    <td rowspan="1" style="width: 7%; vertical-align: top;">&#160;</td>

    <td rowspan="1" style="width: 83%; vertical-align: top;">&#160;</td>

  </tr>

  <tr>

    <td colspan="1" style="vertical-align: top; width: 10%;">&#160;</td>

    <td style="width: 7%; vertical-align: top;">
                  <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">104</div>
                </td>

    <td style="width: 83%; vertical-align: top;">
                  <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">Cover Page Interactive Data File (embedded within the Inline XBRL document)</div>
                </td>

  </tr>


</table>
          <div> <br />
          </div>

          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div style="page-break-after:always;">
              <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" /></div>

          </div>

          <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">SIGNATURES</div>

          <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br />
            </span> </div>

          <div style="text-align: justify; text-indent: 36pt; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">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.</div>

          <div><span style="font-family: 'Times New Roman'; font-size: 10pt;"><br />
            </span> </div>

          <table cellspacing="0" cellpadding="0" border="0" id="z762b321e34e64121975f74f1b0e382f6" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">


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    <td style="width: 49.99%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</td>

    <td style="width: 50.01%; vertical-align: top;" colspan="2">
                  <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">TREDEGAR CORPORATION</div>
                </td>

  </tr>

  <tr>

    <td style="width: 49.99%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</td>

    <td style="width: 4.89%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</td>

    <td style="width: 45.12%; vertical-align: top;">
                  <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">(Registrant)</div>
                </td>

  </tr>

  <tr>

    <td style="width: 49.99%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</td>

    <td style="width: 4.89%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</td>

    <td style="width: 45.12%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</td>

  </tr>

  <tr>

    <td style="width: 49.99%; vertical-align: top;">
                  <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Date: August 25, 2020</div>
                </td>

    <td style="width: 4.89%; vertical-align: top;">
                  <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                </td>

    <td style="width: 45.12%; vertical-align: bottom;">
                  <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">/s/ Michael J. Schewel</div>
                </td>

  </tr>

  <tr>

    <td style="width: 49.99%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</td>

    <td style="width: 4.89%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</td>

    <td style="width: 45.12%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Michael J. Schewel</div>
                </td>

  </tr>

  <tr>

    <td style="width: 49.99%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</td>

    <td style="width: 4.89%; vertical-align: top; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</td>

    <td style="width: 45.12%; vertical-align: top;">
                  <div style="text-align: left; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 10pt;">Vice President, General Counsel and Corporate Secretary</div>
                </td>

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<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>brhc10014630_ex2-1.htm
<DESCRIPTION>EXHIBIT 2.1
<TEXT>
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      <div style="text-align: right; font-weight: bold;"><u>Exhibit 2.1</u></div>
      <div><br>
      </div>
      <div style="text-align: right; font-weight: bold;">EXECUTION VERSION
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="text-align: center; font-weight: bold;">PURCHASE AND SALE AGREEMENT</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">by and among</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">FITESA NAO TECIDOS S.A.,</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">FITESA US LLC,</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">and</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">MIRAMAR PARTICIPA&#199;&#213;ES LTDA,</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">as Buyers,</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">and</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">TREDEGAR CORPORATION,</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">TREDEGAR FAR EAST CORPORATION,</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">TREDEGAR FILM PRODUCTS (LATIN AMERICA), INC.,</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">and</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">TREDEGAR INVESTMENTS LLC,</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">as Sellers,</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">and</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">TREDEGAR CORPORATION,</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">in its capacity as Sellers&#8217; Representative,</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">and, for the limited purposes set forth herein,</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">FITESA S.A.</div>
      <div>&#160;</div>
      <div style="text-align: center;">
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      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">Dated August 24, 2020</div>
      <div>&#160;</div>
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            <div style="text-align: center; font-weight: bold;"><u>TABLE OF CONTENTS</u></div>
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          <div style="text-align: left;">&#160;</div>
          <div style="text-align: left;"> </div>
          <table cellspacing="0" cellpadding="0" border="0" id="zdbba111df3f54f44b454e6a97cb38487" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td colspan="2" style="vertical-align: top;" rowspan="1">&#160;</td>
                <td style="vertical-align: top; width: 81%;" rowspan="1">&#160;</td>
                <td style="width: 5.23%; vertical-align: top; text-align: right;" rowspan="1"><u>Page</u></td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top;" rowspan="1">&#160;</td>
                <td style="vertical-align: top; width: 81%;" rowspan="1">&#160;</td>
                <td style="width: 5.23%; vertical-align: top;" rowspan="1">&#160;</td>
              </tr>
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                <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Article I</div>
                </td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 81%;">
                  <div>DEFINITIONS</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">2</div>
                </td>
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                <td style="width: 5%; vertical-align: top;" rowspan="1"><br>
                </td>
                <td style="width: 9%; vertical-align: top;" rowspan="1">1.1<br>
                </td>
                <td style="width: 81%; vertical-align: top;" rowspan="1">
                  <div>Definitions</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">2</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">1.2<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);" rowspan="1">
                  <div>Interpretive Provisions</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">17</div>
                </td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top; text-align: center;">&#160;</td>
                <td style="width: 81%; vertical-align: top;" rowspan="1">&#160;&#160;</td>
                <td style="width: 5.23%; vertical-align: top; text-align: right;">&#160;</td>
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                <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Article II</div>
                </td>
                <td style="vertical-align: top; width: 81%; background-color: rgb(204, 238, 255);">
                  <div>PURCHASE AND SALE OF INTERESTS</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">18</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">2.1<br>
                </td>
                <td style="width: 81%; vertical-align: top;" rowspan="1">
                  <div>Purchase and Sale of the Interests</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">18</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">2.2<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);" rowspan="1">
                  <div>Calculation of Purchase Price</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">19</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">2.3<br>
                </td>
                <td style="width: 81%; vertical-align: top;" rowspan="1">
                  <div>Purchase Price Adjustment</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">20</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">2.4<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);" rowspan="1">
                  <div>Tax Withholding</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">21</div>
                </td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top;">&#160;</td>
                <td style="width: 81%; vertical-align: top;" rowspan="1">&#160;&#160;</td>
                <td style="width: 5.23%; vertical-align: top; text-align: right;">&#160;</td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Article III</div>
                </td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 81%;">
                  <div>CLOSING</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">22</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">3.1<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Closing; Closing Date</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">22</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">3.2<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Transactions to Be Effected at Closing</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">22</div>
                </td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top;">&#160;</td>
                <td style="width: 81%; vertical-align: top;">&#160;</td>
                <td style="width: 5.23%; vertical-align: top; text-align: right;">&#160;</td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Article IV</div>
                </td>
                <td style="vertical-align: top; width: 81%; background-color: rgb(204, 238, 255);">
                  <div>REPRESENTATIONS AND WARRANTIES CONCERNING SELLERS</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">23</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">4.1<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Organization of Sellers</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">23</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">4.2<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Due Authorization of Sellers</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">24</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">4.3<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>No Conflict</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">24</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">4.4<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>No Authorization or Consents Required</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">24</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">4.5<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Litigation</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">24</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">4.6<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Title to Interests</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">24</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">4.7<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Sellers&#8217; Brokers</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">25</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">4.8<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>No Other Representations or Warranties</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">25</div>
                </td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top;">&#160;</td>
                <td style="width: 81%; vertical-align: top;">&#160;</td>
                <td style="width: 5.23%; vertical-align: top; text-align: right;">&#160;</td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Article V</div>
                </td>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 81%;">
                  <div>REPRESENTATIONS AND WARRANTIES CONCERNING THE TARGET COMPANIES</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">25</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">5.1<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Organization of the Target Companies</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">25</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">5.2<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Due Authorization of the Target Companies</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">26</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">5.3<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Reorganization</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">26</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">5.4<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>No Conflict</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">26</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">5.5<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>No Authorization or Consents Required</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">27</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">5.6<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Target Companies&#8217; Interests</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">27</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">5.7<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Subsidiaries</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">27</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">5.8<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Litigation; Orders</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">28</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">5.9<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Financial Statements</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">28</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">5.10<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Absence of Undisclosed Liabilities</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">28</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">5.11<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Inventory</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">29</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">5.12<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Absence of Certain Developments</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">29</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">5.13<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Taxes</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">29</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">5.14<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Contracts</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">31</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">5.15<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Intellectual Property</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">34</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">5.16<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Title to, Description of and Sufficiency of Assets</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">36</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">5.17<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Employee Benefit Plans</div>
                </td>
                <td style="width: 5.23%; vertical-align: top;">
                  <div style="text-align: right;">36</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">5.18<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Labor and Employment Matters</div>
                </td>
                <td style="width: 5.23%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">40</div>
                </td>
              </tr>

          </table>
          <div><br>
          </div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-i-</font></div>
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
          </div>
          <div style="font-weight: bold;"><u>TABLE OF CONTENTS</u></div>
          <div style="font-weight: bold;"><u>(Continued)</u></div>
          <div><br>
          </div>
          <table cellspacing="0" cellpadding="0" border="0" id="zee89008fcc3747f9859f9574619852b0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">5.19<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Insurance</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">42</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">5.20<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Compliance with Laws; Other Business Practices</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">42</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">5.21<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Real Property</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">43</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">5.22<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Environmental Matters</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">45</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">5.23<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Affiliate Contracts</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">47</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">5.24<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Undisclosed Payments</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">47</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">5.25<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Significant Customers and Suppliers</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">47</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">5.26<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Product Liability</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">48</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">5.27<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Target Companies&#8217; Brokers</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">48</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">5.28<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Books and Records</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">48</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">5.29<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Bank Accounts; Powers of Attorney</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">48</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">5.30<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Anti-Corruption; Anti-Money Laundering; Sanctions</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">48</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">5.31<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Political Law</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">49</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">5.32<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>No Other Representations or Warranties</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">49</div>
                </td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right;">&#160;</td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top;">
                  <div>Article VI</div>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>REPRESENTATIONS AND WARRANTIES CONCERNING BUYERS</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">49</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">6.1<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Buyers&#8217; Corporate Organization</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">50</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">6.2<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Due Authorization of Buyers</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">50</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">6.3<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>No Conflict</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">50</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">6.4<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>No Authorization or Consents Required</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">50</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">6.5<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Financing</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">50</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">6.6<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Litigation</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">51</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">6.7<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Investment Intent</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">51</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">6.8<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Buyers&#8217; Brokers</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">51</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">6.9<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Solvency; No Fraudulent Conveyance</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">51</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">6.10<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>R&amp;W Policy</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">51</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">6.11<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Other Transactions</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">52</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">6.12<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Acknowledgment</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">52</div>
                </td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="width: 5%; vertical-align: top; text-align: right; background-color: rgb(204, 238, 255);">&#160;</td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top;">
                  <div>Article VII</div>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>COVENANTS</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">53</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">7.1<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Conduct of Business of the Target Companies; Notices of Certain Developments</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">53</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">7.2</td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Access to Information</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">55</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">7.3<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Public Announcements</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">57</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">7.4</td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Filings and Authorizations; Consummation</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">57</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">7.5<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Further Assurances; Wrong Pocket</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">58</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">7.6<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Employee Matters</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">60</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">7.7<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Indemnification of Directors and Officers</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">62</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">7.8<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Exclusive Dealing</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">62</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">7.9<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Sellers&#8217; Non-Compete</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">63</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">7.10<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Buyers&#8217; Non-Compete</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">63</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">7.11<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Use of &#8220;Tredegar&#8221; Name</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">63</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">7.12<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Plant Closing and Mass Layoffs</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">64</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">7.13<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Buyers&#8217; Non-Use of Confidential Information</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">64</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">7.14<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Intellectual Property License</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">64</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">7.15<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Contact with Customers and Suppliers</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">65</div>
                </td>
              </tr>

          </table>
          <div><br>
          </div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-ii-</font></div>
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
          </div>
          <div style="font-weight: bold;"><u>TABLE OF CONTENTS</u><br>
            <u>(Continued)</u></div>
          <div><br>
          </div>
          <table cellspacing="0" cellpadding="0" border="0" id="z522953dc593e40d38d83bc2ad4b35544" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">7.16<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Tredegar Hungary Matters</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">65</div>
                </td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top;">&#160;</td>
                <td style="width: 81%; vertical-align: top;">&#160;</td>
                <td style="width: 5%; vertical-align: top; text-align: right;">&#160;</td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Article VIII</div>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>CONDITIONS PRECEDENT TO OBLIGATIONS OF BUYERS</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">67</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">8.1<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Representations and Warranties</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">67</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">8.2<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Covenants and Agreements</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">67</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">8.3<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Absence of Material Adverse Effect</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">67</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">8.4<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Reorganization</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">68</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">8.5<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Deliveries at Closing</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">68</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">8.6<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Legal Prohibition</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">69</div>
                </td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top;">&#160;</td>
                <td style="width: 81%; vertical-align: top;">&#160;</td>
                <td style="width: 5%; vertical-align: top; text-align: right;">&#160;</td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Article IX</div>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>CONDITIONS PRECEDENT TO OBLIGATIONS OF SELLERS</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">69</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">9.1<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Representations and Warranties</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">69</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">9.2<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Covenants and Agreements</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">69</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">9.3<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Deliveries at Closing</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">69</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">9.4<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Legal Prohibition</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">70</div>
                </td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top; text-align: center;">&#160;</td>
                <td style="width: 81%; vertical-align: top;">&#160;</td>
                <td style="width: 5%; vertical-align: top; text-align: right;">&#160;</td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Article X</div>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>TERMINATION</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">70</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">10.1<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Termination</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">70</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">10.2<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Survival After Termination</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">71</div>
                </td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top; text-align: center;">&#160;</td>
                <td style="width: 81%; vertical-align: top;">&#160;</td>
                <td style="width: 5%; vertical-align: top; text-align: right;">&#160;</td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Article XI</div>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>SURVIVAL AND INDEMNIFICATION</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">72</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">11.1<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Survival After Closing</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">72</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">11.2<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Indemnification</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">73</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">11.3<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Indemnification Procedure</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">74</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">11.4<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Limitations on Indemnification</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">76</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">11.5<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Exclusive Remedy</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">78</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">11.6<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Effect on Purchase Price</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">78</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">11.7<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Tax Matters</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">79</div>
                </td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255); text-align: right;">&#160;</td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top;">
                  <div>Article XII</div>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>MISCELLANEOUS</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">88</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">12.1<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Appointment of Sellers&#8217; Representative</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">88</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">12.2<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Expenses</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">90</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">12.3<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Amendment</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">90</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">12.4<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Entire Agreement</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">90</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">12.5<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Notices</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">90</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">12.6<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Waiver</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">91</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">12.7<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Binding Effect; Assignment</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">91</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">12.8<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>No Third Party Beneficiary</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">92</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">12.9<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Governing Law</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">92</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">12.10<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Consent to Jurisdiction and Service of Process</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">92</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">12.11<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>WAIVER OF JURY TRIAL</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">93</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;"><br>
                </td>
                <td style="width: 9%; vertical-align: top;">12.12<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Attorney-Client Privilege and Conflict Waiver</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">93</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);"><br>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">12.13<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Non-Recourse</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">94</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">12.14<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Construction and Disclosure</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">94</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">12.15<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Severability</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">95</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top;">12.16<br>
                </td>
                <td style="width: 81%; vertical-align: top;">
                  <div>Counterparts</div>
                </td>
                <td style="width: 5%; vertical-align: top;">
                  <div style="text-align: right;">95</div>
                </td>
              </tr>
              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">12.17<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>No Rescission</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">95</div>
                </td>
              </tr>

          </table>
          <div><br>
          </div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-iii-</font></div>
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
          </div>
          <div style="font-weight: bold;"><u>TABLE OF CONTENTS</u><br>
            <u>(Continued)</u></div>
          <div><br>
          </div>
          <table cellspacing="0" cellpadding="0" border="0" id="zbeaafcae5d1e44fca7623481c3e7e4d0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: center;"><br>
                  </div>
                </td>
                <td style="width: 9%; vertical-align: top; background-color: rgb(204, 238, 255);">12.18<br>
                </td>
                <td style="width: 81%; vertical-align: top; background-color: rgb(204, 238, 255);" rowspan="1">
                  <div>Miramar&#8217;s Rights and Obligations</div>
                </td>
                <td style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: right;">95</div>
                </td>
              </tr>

          </table>
          <div><br>
          </div>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
                  <div>EXHIBITS</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">&#160;</td>
                <td style="width: 86%; vertical-align: top;" rowspan="1">&#160;&#160;</td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">Exhibit A</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Form of Escrow Agreement</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">Exhibit B</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Description of Reorganization</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">Exhibit C</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Form of Transition Services Agreement</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">Exhibit D</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Tredegar Brasil Closing Deliverables</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">Exhibit E</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Form of the Tredegar India Interests Purchase Agreement</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">&#160;</td>
                <td style="width: 86%; vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">
                  <div>ANNEXES</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">&#160;</td>
                <td style="width: 86%; vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">Annex 7.16(a)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Retsag Indemnification Letter</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">Annex 7.16(b)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Retsag Capital Project</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">Annex 8.5(g)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Resigning Directors, Managers and Officers</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">Annex 8.5(h)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Required Consents</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">Annex 11.2(a)(v)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Specific Indemnities</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">Annex 11.7(b)(i)(C)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Excluded States</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
              </tr>
              <tr>
                <td style="vertical-align: top;" colspan="2">
                  <div>SELLERS&#8217; SCHEDULES</div>
                </td>
              </tr>
              <tr>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2">&#160;</td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">I</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Permitted Liens</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">4.4</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Sellers&#8217; Approvals</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.1</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Target Companies&#8217; Organization</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.4(b)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>No Conflicts</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.5</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Target Companies&#8217; Approvals</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.6</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Target Companies&#8217; Interests</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.7(a)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Target Subsidiaries</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.8</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Litigation and Orders</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.9</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Financial Statements and Accounting Principles</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.12</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Absence of Certain Developments</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.13(a)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Tax Returns</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.13(b)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Tax Jurisdiction Claims</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.13(c)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Consolidated Tax Group</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.13(f)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Branches, Trades and Business Connections</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.13(h)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Ownership of Certain Entities</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.14(a)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Material Contracts</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.15(a)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Registered IP</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.15(f)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Exceptions to IT Systems</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.16(b)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Consigned Assets</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.16(c)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Sufficiency of Assets</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.17(a)(i)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>U.S. Benefit Plans</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.17(a)(v)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Certain Employee Benefits Plans</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.17(a)(vi)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Post-Termination and Post-Employment Employee Benefit Plans</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.17(a)(viii)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Change of Control Matters re:&#160; Employee Benefit Plans</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.17(b)(i)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div>Foreign Benefit Plans</div>
                </td>
              </tr>

          </table>
          <div><br>
          </div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-iv-</font></div>
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
          </div>
          <div style="font-weight: bold;"><u>TABLE OF CONTENTS</u><br>
            <u>(Continued)</u></div>
          <div><br>
          </div>
          <table cellspacing="0" cellpadding="0" border="0" id="z679abd2ea23c4aee87d94ee58fca69f7" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.17(b)(ii)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Exceptions to Foreign Benefit Plans</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.18(a)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Compliance with Labor Laws</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.18(b)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Labor Contracts</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.18(c)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Exceptions to At-Will Employment</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.18(d)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">WARN Act and Employee Downsizing Matters</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.18(e)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Sexual Harassment and Discrimination Allegations</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.18(f)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Employee Census</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.18(g)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Labor Actions and Settlement Agreements</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.19(a)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Target Companies Insurance Policies</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.19(b)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Exceptions to Target Companies Insurance Policies</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.19(c)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Claims Under Target Companies Insurance Policies</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.20(a)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Exceptions to Compliance with Laws</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.21(a)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Owned Real Property</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.21(b)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Leased Real Property</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.21(c)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Exceptions to Leased Real Property</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.21(d)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Other Owned Real Property and Leased Real Property Matters</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.22(a)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Compliance with Environmental Laws and Orders</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.22(b)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Disposals and Releases of Hazardous Substances</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.22(c)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Underground Storage Tanks and Disposal Areas</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.23</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Affiliate Contracts</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.25(a)</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Significant Customers and Significant Suppliers</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">5.25(b)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Significant Customers and Significant Suppliers Exceptions</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">5.29</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Bank Accounts and Powers of Attorney</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">7.1(a)</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Conduct of Business</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);" rowspan="1">&#160;</td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);" rowspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="vertical-align: top;" colspan="2">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">BUYERS&#8217; SCHEDULES</div>
                </td>
              </tr>
              <tr>
                <td style="vertical-align: top; background-color: rgb(204, 238, 255);" colspan="2" rowspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top;">
                  <div style="text-align: justify;">6.4</div>
                </td>
                <td style="width: 86%; vertical-align: top;">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Buyers&#8217; Approvals</div>
                </td>
              </tr>
              <tr>
                <td style="width: 14%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">6.8</div>
                </td>
                <td style="width: 86%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-indent: -7.2pt; margin-left: 7.2pt;">Buyers&#8217; Brokers</div>
                </td>
              </tr>

          </table>
          <div><br>
          </div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-v-</font></div>
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
          </div>
          <!--PROfilePageNumberReset%Num%1%-%-%-->
          <div style="font-weight: bold;"><u>PURCHASE AND SALE AGREEMENT</u></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">This PURCHASE AND SALE AGREEMENT, dated August 24, 2020 (this &#8220;<u>Agreement</u>&#8221;), is by and among Fitesa Nao Tecidos S.A., a Brazilian private limited liability corporation (&#8220;<u>Fitesa Brazil</u>&#8221;),






            Fitesa US LLC, a Delaware limited liability company (&#8220;<u>Fitesa US</u>&#8221;), and Miramar Participa&#231;&#245;es Ltda, a Brazilian limited liability company (&#8220;<u>Miramar</u>&#8221; and together with Fitesa Brazil, and Fitesa US, &#8220;<u>Buyers</u>&#8221;, and each a &#8220;<u>Buyer</u>&#8221;),





            and Tredegar Corporation, a Virginia corporation (&#8220;<u>Sellers&#8217; Parent</u>&#8221;), Tredegar Far East Corporation, a Virginia corporation (&#8220;<u>Far East</u>&#8221;), Tredegar Film Products (Latin America), Inc., a Virginia corporation (&#8220;<u>LatAm</u>&#8221;), and
            Tredegar Investments LLC, a Virginia limited liability company (&#8220;<u>Investments</u>&#8221; and together with Sellers&#8217; Parent, Far East, LatAm, and Investments, &#8220;<u>Sellers</u>,&#8221; and each, a &#8220;<u>Seller</u>&#8221;), and, in its capacity as representative of
            the Sellers, Sellers&#8217; Parent (in such capacity, &#8220;<u>Sellers&#8217; Representative</u>&#8221;), and, for the purposes of guaranteeing Buyers&#8217; payment and performance obligations hereunder and for the other limited purposes set forth herein, other than for
            Miramar, Fitesa S.A., a Brazilian company (&#8220;<u>Buyers&#8217; Parent</u>&#8221;).</div>
          <div>&#160;</div>
          <div style="font-weight: bold;"><u>RECITALS</u></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">A.&#160; &#160; &#160;&#160;&#160;&#160; Sellers&#8217; Parent owns all of the issued and outstanding Capital Stock (defined below) of Tredegar Film Products LLC, a Virginia limited liability company (&#8220;<u>TFP</u>&#8221; and such
            Capital Stock, the &#8220;<u>TFP Interests</u>&#8221;), Far East owns all of the issued and outstanding Capital Stock of Tredegar Film Products India Private Limited, an Indian limited liability company (&#8220;<u>Tredegar India</u>&#8221; and such Capital Stock, the
            &#8220;<u>Tredegar India Interests</u>&#8221;), including beneficial interest in the Nominee Interest (defined below) but excluding legal ownership of the Nominee Interest, and LatAm and Investments together own all of the issued and outstanding Capital
            Stock of Tredegar Brasil Ind&#250;stria De Pl&#225;sticos Ltda., a Brazilian limited liability company (&#8220;<u>Tredegar Brasil</u>&#8221; together with TFP and Tredegar India, the &#8220;<u>Target Companies</u>&#8221; and each, a &#8220;<u>Target Company</u>&#8221; and such Capital
            Stock, the &#8220;<u>Tredegar Brasil Interests</u>&#8221; and together with the TFP Interests and the Tredegar India Interests, the &#8220;<u>Interests</u>&#8221;).&#160; Nominee Interest Shareholder (defined below) is the legal owner of the Nominee Interest.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each Seller wishes to sell to the applicable Buyer, and each Buyer wishes to purchase from the applicable Seller, all of the Interests owned by such Seller, and Sellers&#8217; Parent and
            Sellers wish to cause Nominee Interest Shareholder to transfer legal ownership of the Nominee Interest to the Nominee Interest Buyer, and the Nominee Interest Buyer wishes to accept such transfer of legal ownership in the Nominee Interest, all
            on the terms and subject to the conditions set forth in this Agreement.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Sellers&#8217; Parent, which is the ultimate owner of all the issued and outstanding Capital Stock of all Sellers and of all Target Companies and all Target Subsidiaries (defined below),
            desires to serve as Sellers&#8217; Representative in connection with the transactions contemplated by this Agreement.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">D.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Buyers&#8217; Parent, which is the ultimate owner of all the issued and outstanding Capital Stock of all Buyers (other than Miramar), desires to guaranty the Guaranteed Obligations and
            serve as representative for Buyers (other than for Miramar) in connection with the transactions contemplated by this Agreement as set forth herein.</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">NOW, THEREFORE, the parties to this Agreement agree as follows:</div>
          <div>&#160;</div>
          <div>ARTICLE I<br>
            <br>
            <u>DEFINITIONS</u></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">1.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Definitions</u>.&#160; The following capitalized terms shall have the following meanings for all purposes of this Agreement:</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Accounting Principles</u>&#8221; shall have the meaning set forth under the heading &#8220;Accounting Principles&#8221; in the Financial Statements attached to <u>Schedule&#160;5.9</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Action</u>&#8221; means any action, legal dispute or claim, charge, grievance, suit, proceeding, arbitration, mediation, complaint, governmental charge, audit, investigation or inquiry (whether
            civil, criminal or administrative, but not including investigations or inquiries, formal or informal, of which a Seller, any Target Company or any Target Subsidiary has not been given notice).</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Adjustment Amount</u>&#8221; means the sum of the Net Working Capital Adjustment and the amount of Cash and Cash Equivalents, <u>minus</u> the sum of Closing Indebtedness and Transaction
            Expenses.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Affiliate</u>&#8221; means, with respect to any specified Person, any other Person that directly or indirectly controls, is controlled by or is under common control with such specified Person.&#160;
            For the purposes of this definition, the term &#8220;control,&#8221; when used with respect to any specified Person, means the power to direct or cause the direction of the management or policies of such Person, directly or indirectly, whether through the
            ownership of voting securities, by contract or otherwise; and the terms &#8220;controlling&#8221; and &#8220;controlled&#8221; have correlative meanings.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Benefit Plan</u>&#8221; means each &#8220;employee benefit plan&#8221; (within the meaning of section&#160;3(3) of ERISA) and each other retirement, pension, profit-sharing, deferred compensation, excess benefit,
            supplemental, equity or equity-based, phantom, accidental death and dismemberment, life, health and welfare, medical, mental health, dental, vision, hospitalization, disability, fringe benefit, vacation, paid time off, flexible spending account
            programs, Code Section 125 cafeteria, tuition reimbursement, bonus, incentive, performance, employment, consulting, independent contractor, severance, retention, transaction, change in control and any other material benefit plan, policy,
            program or arrangement, and for the purposes of Tredegar India, plans provided for gratuity or leave encashment (and, in each case, any amendments thereto), and each Government Plan, whether or not tax-qualified, whether funded or unfunded, and
            whether or not subject to ERISA, that is sponsored, maintained, or contributed to or required to be contributed to for the benefit of any current or former employee, officer, director, manager, retiree, independent contractor, consultant or
            other service provider of any of the Target Companies or Target Subsidiaries, or under which any of the Target Companies or Target Subsidiaries has or may have any, direct or indirect, liability (including any liability, fine, lien or penalty
            imposed by Title IV of ERISA, any excise tax imposed by Chapter 43 of the Code, or any similar non U.S. applicable Law with respect to any Benefit Plan by reason of any of the Target Companies or Target Subsidiaries having been an ERISA
            Affiliate of any Person prior to the Closing Date).</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-2-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Brazil Transfer Document</u>&#8221; means the amendment to the articles of association of Tredegar Brasil, in the form attached as <u>Annex 1</u> to <u>Exhibit D</u> by and among Fitesa Brazil,
            LatAm and Investments.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Brazilian Withholding Tax Amount</u>&#8221; means the amount of Brazilian Tax to be withheld at Closing pursuant to <u>Section&#160;11.7(k)</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Business Day</u>&#8221; means any day other than a Saturday, a Sunday or other day on which commercial banks in New York, New York, S&#227;o Paulo, S&#227;o Paulo, Brazil or Maharashtra, India are
            authorized or required by Law to close.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Capital Stock</u>&#8221; means:&#160; (a) any shares, quotas, interests, participations or other equivalents (however designated) of capital stock of a corporation; (b) any ownership interests in a
            Person other than a corporation, including membership interests, partnership interests, joint venture interests and beneficial interests; and (c) any warrants, options, convertible or exchangeable securities, subscriptions, rights (including
            any preemptive or similar rights), calls or other rights to purchase or acquire any of the foregoing.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>CARES Act</u>&#8221; means U.S. Pub. L. 116-136, The Coronavirus Aid, Relief and Economic Security Act.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Cash and Cash Equivalents</u>&#8221; means the aggregate amount of cash, cash equivalents, and marketable securities (net of issued but uncleared checks, wires and drafts, and inclusive of the
            amount of any uncleared checks, wires and drafts received) of the Target Companies and Target Subsidiaries&#160; as of the Effective Time, but without giving effect to Closing, determined in accordance with the Accounting Principles, which amounts
            are reflected in the combined balance sheets of the Target Companies and Target Subsidiaries included in the Financial Statements as deemed distributions under the heading &#8220;Parent&#8217;s net investment.&#8221;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Closing Indebtedness</u>&#8221; means the amount of combined Indebtedness of the Target Companies and Target Subsidiaries outstanding as of the Effective Time determined in accordance with the
            Accounting Principles.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Code</u>&#8221; means the U.S. Internal Revenue Code of 1986, as amended.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Competition Laws</u>&#8221; means the applicable Laws regulating antitrust, competition or merger control matters.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Confidentiality Agreement</u>&#8221; means that certain Confidentiality Agreement, dated as of February 3, 2020, by and between EVORA SA, a Brazilian company that is the ultimate parent entity of
            Buyers&#8217; Parent, and JP Morgan, on behalf of Sellers&#8217; Parent, including all Acknowledgement and Adherence Forms for Authorized Representatives attached thereto.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Contract</u>&#8221; means any contract, agreement, indenture, note, bond, loan, lease, sublease, mortgage, license, sublicense, franchise agreement or other legally binding commitment.</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-3-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Continuing Employees</u>&#8221; means those employees of a Target Company or a Target Subsidiary who remain in such Person&#8217;s employment on the Closing Date and whose employment Buyers have
            determined will continue on and after the Closing Date.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Current Assets</u>&#8221; means the combined current assets of the Target Companies and Target Subsidiaries, determined in accordance with the Accounting Principles, which current assets shall
            include only the line items set forth on the Latest Balance Sheet under the heading &#8220;Current Assets&#8221; and no other assets (and, for the avoidance of doubt, shall exclude Cash and Cash Equivalents included in the Adjustment Amount and shall
            exclude deferred income Taxes).</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Current Liabilities</u>&#8221; means the combined current liabilities of the Target Companies and Target Subsidiaries, determined in accordance with the Accounting Principles, which current
            liabilities shall include only the line items set forth on the Latest Balance Sheet under the heading &#8220;Current Liabilities&#8221; and no other liabilities but excluding accrued and unpaid bonuses (and, for the avoidance of doubt, shall not include
            any amounts with respect to Transaction Expenses (e.g., accrued and unpaid bonuses) and Closing Indebtedness included in the Adjustment Amount and shall exclude deferred income Taxes).</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Defined Benefit Plan</u>&#8221; means a defined benefit plan as defined in Section 3(35) of ERISA.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Dudley Litigation</u>&#8221; means that certain lawsuit styled Paul Dudley &amp; Yvonna Dudley v. 4520 Corp. et al, filed on or about December 10, 2019 in the Circuit Court of the Third Judicial
            Circuit, Madison County, Illinois, case number:&#160; 19-L-1651, and any of the matters referred to therein or any other related claims of any kind.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Effective Time</u>&#8221; means 12:01 a.m., Eastern Time, on the Closing Date.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Environmental Law</u>&#8221; means the common law and any federal, state, local, and foreign Law, Order or Contract with any Governmental Authority relating to (a) the environment, including the
            protection of natural resources and the quality of the ambient air indoor air or indoor air quality, soil, surface water or groundwater, land, stream sediments, surface or subsurface strata, (b) the protection of human health and safety (other
            than Laws relating to labor and employment matters addressed under <u>Section&#160;5.18</u>), or (c) the exposure to or the generation, management, manufacture, processing, use, registration, transportation, treatment, storage, recycling, reuse,
            disposal, release, regulation or remediation of any Hazardous Substance.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Equity and Bankruptcy Exceptions</u>&#8221; means (a) any applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar Laws relating to or affecting creditors&#8217;
            rights generally, (b) general principles of equity and (c) in addition, with respect to the Laws of Brazil, the general principles of probity and good faith and of the social function of contract and of property.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>ERISA</u>&#8221; means the Employee Retirement Income Security Act of 1974, as amended.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>ERISA Affiliate</u>&#8221; means any trade or business, whether or not incorporated, that together with any Target Company or any of its Affiliates would be treated as a single employer within
            the meaning of Section 414 of the Code or under common control within the meaning of Sections 4001(a)(14) and 4001(b)(1) of ERISA.</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-4-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Escrow Account</u>&#8221; shall mean the account established under the Escrow Agreement into which the Escrow Amount is deposited.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Escrow Agent</u>&#8221; means JPMorgan Chase Bank, N.A.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Escrow Agreement</u>&#8221; means the Escrow Agreement, in the form attached hereto as <u>Exhibit A</u>, by and among Buyers&#8217; Parent, Sellers&#8217; Representative and Escrow Agent.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Escrow Amount</u>&#8221; means $302,500.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>FFCRA</u>&#8221; means the Families First Coronavirus Response Act.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Foreign Benefit Plan</u>&#8221; means any Benefit Plan maintained by any Target Company or a Target Subsidiary on behalf of current or former employees of such Target Company or Target Subsidiary
            who are not or were not based in the U.S.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Fraud</u>&#8221; means, (a) with respect to one or more Sellers&#8217; express making of any of the representations and warranties set forth in <u>Article IV</u> (Representations and Warranties
            Concerning Sellers) and in <u>Article V</u>, (Representations and Warranties Concerning the Target Companies) (including any &#8220;bringdown&#8221; certificate or other written confirmation of any such representation and warranty), (i) one or more
            Sellers made a representation, (ii) the representation was false when made, (iii) such Seller or Sellers acted with scienter, (iv) with the intent that Buyers rely on the representation, (v) one or more Buyers reasonably relied on such
            representation or warranty, and (vi) such Buyer or Buyers suffered injury as a result of their reasonable reliance on such representation or warranty; and (b) with respect to one or more Buyers&#8217; express making of any of the representations and
            warranties in <u>Article VI</u> (Representations and Warranties Concerning Buyers) (including any &#8220;bringdown&#8221; certificate or other written confirmation of any such representation and warranty), (i) one or more Buyers made a representation,
            (ii) the representation was false when made, (iii) such Buyer or Buyers acted with scienter, (iv) with the intent that Sellers rely on the representation, (v) one or more Sellers reasonably relied on such representation or warranty, and (vi)
            such Seller or Sellers suffered injury as a result of their reasonable reliance on such representation or warranty.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>GAAP</u>&#8221; means United States generally accepted accounting principles, consistently applied, at the time of the preparation of the subject financial statement.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Governmental Authority</u>&#8221; means:&#160; (a) any federal, state, provincial, local, foreign or international government or governmental authority, regulatory or administrative agency,
            governmental commission, municipality, department, board, bureau, agency or instrumentality, court, tribunal, arbitrator or arbitral body (public or private); (b) any organization of multiple nations, (c) any self-regulatory organization; or
            (d) any political subdivision of any of the foregoing.</div>
          <div>&#160;</div>
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            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-5-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Government Plan</u>&#8221; means any employee benefit plan maintained by a Governmental Authority or any employee benefit plan, agreement, or arrangement that is otherwise required to be
            maintained or provided by applicable Law.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Hazardous Substance</u>&#8221; means any of the following:&#160; (a) any pollutant, contaminant or waste; (b) any toxic, radioactive, ignitable, corrosive, reactive or otherwise hazardous substance,
            waste or material; (c) petroleum, its derivatives, by-products and other hydrocarbons; and (d) any other substance that is regulated under any applicable Environmental Law.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Indebtedness</u>&#8221; means (without duplication of any of the clauses below or any amounts specifically taken into account in the Net Working Capital Adjustment or in the calculation of
            Transaction Expenses):&#160; (a) any indebtedness or other obligation of any Target Company or any Target Subsidiary for borrowed money, whether current, short-term or long-term and whether secured or unsecured, excluding trade payables incurred in
            the ordinary course of business; (b) any indebtedness of any Target Company or any Target Subsidiary evidenced by any note, bond, debenture or other security or similar instrument; (c) any net liabilities of any Target Company or any Target
            Subsidiary with respect to interest rate or currency swaps, collars, caps and similar hedging obligations; (d) any liabilities of any Target Company or any Target Subsidiary for the deferred purchase price of property or other assets (including
            any &#8220;earn-out&#8221; or similar payments); (e) any liability of a Target Company or any Target Subsidiary in respect of a &#8220;finance lease&#8221; as reflected on the Latest Balance Sheet in accordance with GAAP, including Accounting Standards Codification
            842 and related accounting rules and regulations, as such may be amended or re-codified from time to time; (f) any liability of any Target Company or any Target Subsidiary for unfunded employee benefit plans (including, but not limited to,
            non-qualified defined contribution plan liability) and any unsatisfied &#8220;withdrawal liability&#8221; as such term is defined under ERISA, in each case, as of the Effective Date; (g) any liability of any Target Company or any Target Subsidiary in
            respect of accrued and unpaid bonuses or deferred compensation obligations, in each case, with respect to Continuing Employees, together with any Taxes payable thereto; (h) any employment Taxes of the Target Companies and Target Subsidiaries
            which would otherwise be due and payable on or before the Closing Date the payment of which is deferred pursuant to the CARES Act (it being understood that Buyers shall be responsible for paying any such Taxes that have been so deferred and
            have not been settled as of the Effective Time) but without duplication of such Taxes required to be settled directly by Sellers&#8217; Parent or any of its Affiliates (other than the Target Companies and the Target Subsidiaries) with the applicable
            Governmental Authority; (i) any indebtedness specified in subsections (a) through (h) of this definition that any Target Company or any Target Subsidiary guarantees or with respect to which any Target Company or any Target Subsidiary otherwise
            expressly assures a creditor against loss (which, for the avoidance of doubt, does not include contingent reimbursement obligations in respect of letters of credit issued on behalf of any Target Company or any Target Subsidiary with respect to
            such Target Company&#8217;s or such Target Subsidiary&#8217;s purchase of supplies and equipment in the ordinary course of business); (j) any current income and franchise Taxes (excluding deferred Taxes) payable (an increase to Indebtedness) or recoverable
            (a decrease to Indebtedness) accrued on related taxable income through and including the Closing Date of any Target Company or any Target Subsidiary together with any Taxes of the Target Companies or any Target Subsidiary which would otherwise
            be due and payable on or before the Closing Date the payment of which is deferred pursuant to the CARES Act or any similar state, local or non-U.S. Tax Law or official guidance in connection with COVID-19 or related economic dislocation (it
            being understood that Buyers shall be responsible for paying any such Taxes that have been so deferred and have not been settled as of the Effective Time), and any unpaid Reorganization Taxes arising on or before Closing, but without
            duplication of Taxes included in subsection (h) of this definition or such Taxes required to be settled directly by Sellers&#8217; Parent or any of its Affiliates (other than the Target Companies and Target Subsidiaries) with the applicable
            Governmental Authority; and (l) any accrued interest, premiums, penalties (including prepayment penalties) and other obligations relating to the foregoing.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Indian Withholding Tax Amount</u>&#8221; means the amount of Indian Tax to be withheld at Closing pursuant to <u>Section&#160;11.7(j)</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Intellectual Property</u>&#8221; means any of the following, as they exist anywhere in the world:&#160; (a) patents, patent applications, patentable inventions and other patent or design rights
            (including any divisions, continuations, continuations-in-part, reissues, reexaminations and interferences thereof); (b) trademarks, service marks, trademark and service mark registrations and registration applications, trade dress, trade
            names, taglines, brand names, logos and corporate names and all goodwill related thereto; (c) copyrights, copyright registrations and registration applications, mask works and designs; (d) trade secrets, know-how, inventions, processes,
            procedures, databases, confidential business information and other proprietary information and rights; (e) computer software programs, including all source code, object code, specifications, designs and documentation related thereto; and (f)
            domain names, Internet addresses and other computer identifiers.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Inventory</u>&#8221; means all inventory that is now, or at the time of Closing will be, used or held for use in or otherwise related to, useful in or necessary for the conduct of, the Personal
            Care Business, including finished goods, work in process, supplies and raw materials maintained, held or stored for or on behalf of any Target Company or Target Subsidiaries.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>IP Licenses</u>&#8221; means all licenses concerning Intellectual Property, including agreements granting any Target Company or any Target Subsidiary rights to use Intellectual Property owned by
            any Person and agreements granting any Person rights to use Intellectual Property owned by any Target Company or any Target Subsidiary.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>IRS</u>&#8221; means the U.S. Internal Revenue Service.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>JP Morgan</u>&#8221; means J.P. Morgan Securities LLC, a Delaware limited liability company.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>JPM Credit Facility</u>&#8221; means that certain Credit Agreement, dated as of March 1, 2016, among Tredegar Corporation, the lenders party thereto and JPMorgan Chase Bank, N.A. as
            Administrative Agent thereunder, as amended, modified or supplemented from time to time.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>JUCESP</u>&#8221; means the commercial registry of the State of S&#227;o Paulo <font style="font-style: italic;">(Junta Comercial do Estado de S&#227;o Paulo)</font>, Brazil.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Knowledge</u>&#8221; or &#8220;<u>Known</u>&#8221; means, (a) when used in reference to Sellers or the Target Companies, the actual knowledge of J.S. Prince, Susan T. Bryan, Steven A. Johnston, D. Andrew
            Edwards, Michael J. Schewel and John M. Steitz, each having made all reasonable enquiries and (b) when used in reference to Buyers, the actual knowledge, of Silverio Baranzano, Lavinia Leite, Eduardo Lubisco and Hal Singley having made all
            reasonable enquiries.&#160; For the avoidance of doubt, the identification of the foregoing individuals is not intended to, and shall not, impose on any of such individuals any personal liability.</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-7-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Law</u>&#8221; means any law, statute, ordinance, code, regulation, rule or other requirement of any Governmental Authority.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Leased Real Property</u>&#8221; means the real property leased, subleased, licensed, occupied or used by any Target Company or any Target Subsidiary pursuant to a Lease, together with all
            buildings, improvements and fixtures thereon and all easements, rights of way and other appurtenances thereto.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Leases</u>&#8221; means any and all leases, subleases, concessions, licenses and other similar agreements (whether written or oral) in connection with the occupancy or use of real property,
            including all amendments, modifications, extensions, renewals, guaranties and other agreements with respect thereto.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Lien</u>&#8221; means any lien, encumbrance, mortgage, right of usufruct, option right, right of retention, right of first refusal or preemption, deed of trust, deed to secure debt, pledge,
            charge, security interest, conditional sale or assignment in security (<font style="font-style: italic;">aliena&#231;&#227;o ou cess&#227;o fiduci&#225;ria em garantia</font>) and in the case of real property, includes any easement, restriction, covenant,
            condition, title defect or other imperfection of title, encroachment or other survey defect, option or other encumbrance.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Material Adverse Effect</u>&#8221; means any circumstance, change, effect, event, occurrence, state of facts or development (each, an &#8220;<u>Effect</u>&#8221;) that, individually or in the aggregate, is
            or would reasonably be expected to have a material adverse effect on the assets, liabilities, business, results of operations, properties, or condition (financial or otherwise) of the Target Companies and the Target Subsidiaries, taken as a
            whole; <u>provided</u>, <u>however</u>, that none of the following shall be taken into account in determining whether there has been or will be a Material Adverse Effect:&#160; (a) general national, international or regional economic, social or
            financial conditions, including the engagement in hostilities, whether or not pursuant to the declaration of a national emergency or war, the occurrence of any actual or threatened military or terrorist attack or any &#8220;act of God&#8221; including
            hurricanes, tornados, floods, earthquakes or other natural disasters, epidemics or pandemics or any sanctioned response by any Governmental Authority thereto; (b)&#160;Effects that are not unique to the Target Companies and the Target Subsidiaries,
            but also generally affect other persons who engage in the lines of business in which the Target Companies and the Target Subsidiaries are engaged; (c) the change in conditions of any financial, banking, or securities markets generally
            (including any disruption thereof); (d) any Effects that result from (i)&#160;any acts or omissions of Buyers or (ii) any acts or omissions of any Seller, any Target Company or any Target Subsidiary carried out (or omitted to be carried out) with
            the written consent of Buyers&#8217; Parent or at the written request or direction of Buyers&#8217; Parent; (e) Effects arising from the announcement, execution, or pendency of, or the taking of any actions contemplated by, this Agreement and the
            transactions contemplated hereby; (f) the failure by the Target Companies and Target Subsidiaries, taken as a whole, or any Target Company or any Target Subsidiary, individually, to meet internal or third party projections or forecasts or any
            revenue or earning projections for any period in and of itself (provided that the underlying causes of such failures, subject to the other provisions of this definition, will not be excluded); and/or (g) changes in GAAP or in any Law after the
            date of this Agreement; provided, further, that an Effect referenced, in the case of the foregoing clauses (a) and (b), shall only be excluded for the purpose of determining whether there has been a &#8220;Material Adverse Effect&#8221; under clause (i) to
            the extent such Effect does not adversely affect the Target Companies and the Target Subsidiaries taken as a whole in a disproportionate manner relative to other Persons that operate in the same line of business as the Target Companies and the
            Target Subsidiaries.</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Multiemployer Plan</u>&#8221; means a multiemployer plan as defined in Section 3(37) of ERISA.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Net Working Capital</u>&#8221; means Current Assets, <u>minus</u> Current Liabilities as determined in accordance with the Accounting Principles, each calculated as of the Effective Time, but
            without giving effect to Closing.&#160; For avoidance of doubt, the parties hereto agree that the current assets and current liabilities described in the Accounting Principles shall be the only items included in Current Assets and Current
            Liabilities for the purposes of the calculation of Net Working Capital.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Net Working Capital Adjustment</u>&#8221; means Net Working Capital minus $15,989,000, expressed as a positive number if positive, and as a negative number if negative.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Nominee Interest Buyer</u>&#8221; means Palo Alto Investimentos S.A, a Brazilian private limited liability corporation.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Nominee Interest Shareholder</u>&#8221; means the individual whose name and address are set forth on <u>Schedule 5.6</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Non-Continuing Employees</u>&#8221; means those employees of a Target Company or any Target Subsidiary whose employment with such Target Company or Target Subsidiary will terminate on or prior to
            the Closing Date as shown on a list of such employees that has been agreed to between Buyers&#8217; Parent and Sellers&#8217; Parent in connection with the execution of this Agreement.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Order</u>&#8221; means any order, decision, judgment, writ, injunction, decree, award, injunction or other determination of any Governmental Authority other than any order, decision, judgment,
            writ, injunction, decree, award, injunction or other determination of any Governmental Authority of general applicability to businesses similarly situated to the Personal Care Business.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Organizational Document</u>&#8221; means, with respect to any Person that is not a natural person, such Person&#8217;s charter, certificate or articles of incorporation or formation, bylaws, memorandum
            and articles of association, operating agreement, limited liability company agreement, partnership agreement, limited partnership agreement, limited liability partnership agreement or other constituent or organizational documents of such
            Person.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Owned Real Property</u>&#8221; means the real property owned by any Target Company or any Target Subsidiary, together with all buildings, improvements and fixtures located thereon and all
            appurtenances relating thereto.</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-9-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Parent Plan&#8221;</u> means each Benefit Plan that is not a Target Company Plan.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Permitted Liens</u>&#8221; means:&#160; (a) Liens for Taxes, assessments, reassessments, water and sewer rents and other governmental charges not yet due and payable; (b) Liens (including Liens for
            Taxes) being contested in good faith by appropriate proceedings by or on behalf of any Target Company or any Target Subsidiary and in respect of which adequate reserves have been recorded in the Latest Balance Sheet; (c) inchoate mechanics&#8217;,
            carriers&#8217;, workers&#8217;, repairers&#8217;, suppliers&#8217;, vendors&#8217;, and similar Liens arising or incurred in the ordinary course of business; (d)&#160;Liens that are (i) encumbrances, easements, quasi easements, licenses, covenants, rights of way, utility
            agreements, restrictions, encroachments and other real property Liens, (ii) conditions that may be shown by a current ATLA/ACSM survey of such Real Property with all Table A requirements shown thereon or (iii) zoning, building, land use and
            other similar restrictions, that in any case described in this clause (d) do not materially impair the current use or occupancy of the Real Property by its current occupant; (e) Liens arising under worker&#8217;s compensation, unemployment insurance,
            social security, retirement and similar Laws; (f) Liens on goods in transit incurred pursuant to documentary letters of credit; (g) Liens for which there are adequate reserves on the financial statements of the applicable Persons (if such
            reserves are required pursuant to GAAP); and (h) those Liens that are set forth on <u>Schedule I</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Person</u>&#8221; means any natural person, business, corporation, company, partnership, association, limited liability company, limited partnership, limited liability partnership, joint venture,
            business enterprise, trust or other legal entity, including any Governmental Authority.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Personal Care Business</u>&#8221; means the business of the Target Companies and the Target Subsidiaries of manufacturing, marketing, selling and distributing (x) aperture, elastic, embossed
            films and laminate materials for primary end use in feminine hygiene, baby diapers and adult incontinence products as conducted by the Target Companies and the Target Subsidiaries as of the Closing Date, and (y) apertured films for the
            following uses if produced for such uses at the facility located on the Owned Real Property located in Terre Haute, Indiana within six months prior to the date of Closing: face masks, surgical gowns, ostomy bags, bacterial medical bags,
            industrial cheese cloth filters, weedblock and coex cast embossed films for Chub pack and synthetic rubber wrap (excluding coex films used in the surface protection industry and the packaging line and associated assets located in Pottsville,
            Pennsylvania and the business and operations associated therewith).&#160; For the avoidance of doubt, (i) the optical management films business and the face shield manufacturing business of Bright View Technologies Corporation, the flexible
            packaging films and PET-based films business comprising Terphane Holdings LLC and its Subsidiaries and the surface protection films business of Tredegar&#8217;s Surface Protection business unit, and the business and operations associated with each of
            the foregoing, (ii) the packaging line and associated assets located in Pottsville, Pennsylvania and the business and operations associated therewith, and (iii) the assets of the Tredegar Pension Plan and the Tredegar Post-Retirement Medical
            and Life Insurance Plan, shall be excluded from the definition of Personal Care Business, and shall be considered to be included in the definition of &#8220;Tredegar Retained Business.&#8221;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Personal Care Business Asset</u>&#8221; means all properties, assets, Contracts and rights of every kind and nature, tangible or intangible (together with any goodwill symbolized by or associated
            with such intangible properties, assets and rights), real or personal, wherever located and whether now existing or hereafter acquired, in each case primarily relating to, or primarily used or held for use in the conduct of, the Personal Care
            Business.</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-10-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Post-Closing Tax Period</u>&#8221; means any taxable period (or portion thereof) beginning after the Closing Date.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Pre-Closing Tax Period</u>&#8221; means any taxable period (or portion thereof) ending on or before the Closing Date.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Real Property</u>&#8221; means the Owned Real Property and the Leased Real Property.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Reorganization</u>&#8221; means the transactions set forth in <u>Exhibit B</u> pursuant to which Sellers&#8217; Parent has caused and will continue to cause the reorganization of certain Target
            Companies, the Target Subsidiaries and other Subsidiaries of Sellers&#8217; Parent and certain of their respective assets and liabilities, in each case as set forth in <u>Exhibit B</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Reorganization Completion</u>&#8221; means the completion of each of the steps set forth in <u>Exhibit B</u> in accordance with their respective terms, which upon completion of such steps, will
            result in Sellers, the Target Companies and the Target Subsidiaries to be organized as set forth on page 9 of <u>Exhibit B</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Reorganization Taxes</u>&#8221; means Taxes resulting from the consummation of each of the transactions comprising the Reorganization, including, but not limited to (for the avoidance of doubt),
            any Taxes resulting from any capital decrease in Tredegar Hungary and transfer of ownership of Tredegar Hungary&#8217;s quotas as a result of dividend distribution.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Reportable Event</u>&#8221; means an event described in Section 4043 of ERISA and the regulations thereunder and that is required to be reported to the Pension Benefit Guaranty Corporation under
            Section 4043 of ERISA and the regulations thereunder.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Restricted Business</u>&#8221; means the Personal Care Business and business of the Target Companies and the Target Subsidiaries of manufacturing, marketing, selling and distributing films and
            laminates for fluid management and elastics for comfort and fit for components of baby, feminine, adult care disposable hygiene products, and personal protective equipment (face masks/gowns but not including face shields or associated masking
            films), apertured films for ground cover (mulch film) and cast coex films (excluding coex films used in the surface protection industry and the packaging line and associated assets located in Pottsville, Pennsylvania and the business and
            operations associated therewith).&#160; For the avoidance of doubt, the packaging line and associated assets located in Pottsville, Pennsylvania and the business and operations associated therewith, shall be excluded from the definition of
            Restricted Business.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;">&#8220;<u>Retsag Capital Project</u>&#8221; means the capital project plan, which is attached hereto as <u>Annex 7.16(b)</u>, entitled &#8220;RT Plant vacuum systems dust and fire safety upgrade,&#8221; dated July
            31, 2020, and approved by Sellers&#8217; Parent&#8217;s Management Committee on August 5, 2020.</div>
          <div><br>
          </div>
          <div style="text-align: left; text-indent: 36pt;">&#8220;<u>Retsag Indemnification Letter</u>&#8221; means the letter, from TFP to the operating director of Tredegar Hungary, and attached hereto as <u>Annex 7.16(a)</u>, pursuant to which TFP has agreed to
            indemnify such operating director from liabilities associated with the matter set forth under item (i) on <u>Schedule 5.22(a)</u>.</div>
          <div><br>
          </div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-11-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Schedules</u>&#8221; means, with respect to Sellers, the disclosure schedules delivered by Sellers under <u>Articles IV</u> and <u>V</u>, and with respect to Buyers, the disclosure schedules
            delivered by Buyers under <u>Article VI</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Sellers&#8217; Fundamental Representations</u>&#8221; means the representations and warranties of Sellers set forth in <u>Sections&#160;4.1</u> (Organization of Sellers), <u>4.2</u> (Due Authorization of
            Sellers), <u>4.6</u> (Title to Interests), <u>4.7</u> (Sellers&#8217; Brokers), <u>5.1</u> (Organization of the Target Companies), <u>5.2</u> (Due Authorization of the Target Companies), <u>5.6</u> (Target Companies&#8217; Interests), <u>Section&#160;5.7</u>
            (Subsidiaries), and <u>5.27</u>(Target Companies&#8217; Brokers).</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Sellers&#8217; Parties</u>&#8221; shall mean each Seller and each of its equityholders, controlling persons, directors, officers, employees, agents, representatives, Affiliates, members, managers,
            general or limited partners, beneficiaries, heirs, successors or assignees (or any former, current or future equityholder, controlling person, director, officer, employee, agent, representative, Affiliate, member, manager, general or limited
            partner, beneficiary, heir, successor or assign of any of the foregoing).</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Subsidiary</u>&#8221; means, with respect to any specified Person, any entity of which the specified Person (either alone or through or together with any other Subsidiary of such specified
            Person) (a) owns, directly or indirectly, more than 50% of the voting stock or other interests, the holders of which are generally entitled to vote for the election of the board of directors or other applicable governing body of such entity, or
            (b) controls the management; <u>provided</u>, <u>however</u>, that for the purposes of the definition of &#8220;Tredegar Retained Business&#8221; and <u>Section&#160;7.5(b)(i)</u>&#160;<font style="font-style: italic;">(Further Assurances; Wrong Pocket)</font>,
            the term &#8220;Subsidiary&#8221; will apply regardless of the percentage ownership of voting stock or other interests specified in clause (a) of this definition.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Surface Protection</u>&#8221; means Tredegar Surface Protection, LLC, a Virginia limited liability company and a Subsidiary of Sellers&#8217; Parent that is not a Target Company or a Target Subsidiary.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Target Company Plan</u>&#8221; means each Benefit Plan in which only employees of the Target Companies participate as of the Closing Date.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Target Service Provider</u>&#8221; means each employee, officer, director, manager, retiree, individual independent contractor, individual consultant or other individual service provider of a
            Target Company or any Target Subsidiary (including employees of the Personal Care Business employed by a Subsidiary of Sellers&#8217; Parent other than a Target Company or Target Subsidiary).</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Target Subsidiaries</u>&#8221; means Tredegar Personal Care, TFP U.S., Tredegar Netherlands and Tredegar Hungary, and each, a &#8220;<u>Target Subsidiary</u>.&#8221;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Tax</u>&#8221; means (a) any taxes, levies, fees, imposts, duties, contributions or similar charges (including any interest, fines, assessments, penalties or additions to tax imposed in
            connection therewith or with respect thereto) imposed by any Governmental Authority, including:&#160; (i) taxes imposed on, or measured by, income, franchise, profits or gross receipts, (ii) ad valorem, value added, capital gains, sales, goods and
            services, use, real or personal property, capital stock, license, branch, payroll, estimated withholding, employment, social security, unemployment, compensation, utility, severance, production, excise, stamp, occupation, premium, windfall
            profits, transfer and gains taxes, and (iii) customs duties; and (b) any liability for payment of or in respect of any amounts described in clause (a) of this definition, as a result of being a member of a consolidated, combined, unitary or
            other similar group for tax purposes for any period, as a result of any tax sharing or tax allocation Contract, or as a result of being liable for or in respect of another Person&#8217;s taxes as a transferee or successor, by Contract or otherwise.</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-12-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Tax Return</u>&#8221; means any report, return, declaration, claim for refund, election, disclosure, estimate, information report or return or statement filed with a Governmental Authority in
            connection with Taxes, including any schedule or attachment thereto or amendment thereof.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>TFP U.S.</u>&#8221; means Tredegar Film Products (U.S.) LLC, a Virginia limited liability company.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Transaction Expenses</u>&#8221; means the following fees, costs and expenses incurred or subject to reimbursement by any Target Company or any Target Subsidiary (without duplication), in each
            case in connection with the transactions contemplated hereby and incurred and not paid prior to Closing and not specifically taken into account in the Net Working Capital Adjustment or as liabilities in the calculation of Closing Indebtedness:&#160;
            (a) any brokerage fees, costs and expenses, commissions, finders&#8217; fees, costs and expenses or financial advisory fees, costs and expenses incurred by any Target Company or any Target Subsidiary; (b) any fees, costs and expenses of counsel,
            accountants or other advisors or service providers incurred by any Target Company or any Target Subsidiary; (c) any fees, costs and expenses incurred by, or payment or severance obligations of, any Target Company or any Target Subsidiary and
            related to any transaction bonus, discretionary bonus, success fee, equity award, sale or change-of-control payment, phantom equity payout, retention payment, separation agreement, severance plan or arrangement, incentive compensation,
            retention or &#8220;stay-put&#8221; or other compensatory or severance payment obligations payable to any employee of any Target Company or any Target Subsidiary as a result of or in connection with the execution of this Agreement or in connection with the
            transactions contemplated by this Agreement, in each case together with any related Taxes payable with respect thereto (including any associated tax liabilities for the items listed in this clause (c)), and any withholding and other Taxes
            imposed on or in respect of any of the foregoing (including the employer&#8217;s share of any payroll Taxes); (d) all fees and expenses to obtain the Tail Policy, (e) 100% of the premium, underwriting fees, and other costs and expenses payable
            pursuant to the terms of the R&amp;W Policy; and (f) 50% of the costs and expenses of the Escrow Agent; <u>provided</u>, <u>however</u>, that clause (c) of this definition will not apply to any other payment obligations that may be incurred
            by any Target Company or any Target Subsidiary as a result of the termination of a Continuing Employee&#8217;s employment after Closing, and will only apply to those severance payments that (1) become due and payable as a result of the termination of
            a Non-Continuing Employee&#8217;s employment on or prior to the Closing Date or (2) otherwise are accrued and unpaid at Closing; <u>provided</u>, <u>further</u> that &#8220;Transaction Expenses&#8221; will not include any obligation of Sellers&#8217; Parent under
            the Parent Plans set forth under subsection (A) of <u>Schedule 5.17(a)(viii)</u>, which obligations Sellers&#8217; Parent shall discharge in full as they become due and payable, and which obligations are not included in the calculation of Estimated
            Purchase Price or Purchase Price as finally determined pursuant to <u>Section&#160;2.3</u>.</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-13-</font></div>
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
          </div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Transition Services Agreement</u>&#8221; means the Transition Services Agreement, in the form attached hereto as <u>Exhibit C</u>, by and between Fitesa US and Sellers&#8217; Parent pursuant to which
            Sellers&#8217; Parent and certain of its Affiliates will provide services to Fitesa US and certain of its Affiliates on and after Closing, and Fitesa US and certain of its Affiliates will provide certain reverse services to Sellers&#8217; Parent and its
            Affiliates on and after Closing, all in accordance with the terms thereof.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Treasury Regulations</u>&#8221; means the Treasury Regulations promulgated under the Code.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Tredegar Brasil Deliverables</u>&#8221; means the agreements, documents and instruments set forth on <u>Exhibit D</u> to be delivered at Closing in order to effect the purchase and sale of the
            Tredegar Brasil Interests as contemplated hereby.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Tredegar Hungary</u>&#8221; means Tredegar Film Products Kft., a Hungarian limited liability company (including, for the avoidance of doubt, its Italian branch).</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Tredegar India Interests Purchase Agreement</u>&#8221; means the short form India Interests Purchase Agreement, to be delivered at Closing in substantially the form attached as <u>Exhibit E</u>,
            among Miramar and Far East.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Tredegar Netherlands</u>&#8221; means Tredegar Film Products B.V., a Dutch private limited company whose corporate seat is at Kerkrade, the Netherlands and with trade register number 14040332.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Tredegar Personal Care</u>&#8221; means Tredegar Personal Care LLC, a Virginia limited liability company.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Tredegar Pension Plan</u>&#8221; means the noncontributory defined benefit pension plan sponsored and retained by Sellers&#8217; Parent for the benefit of certain current and former U.S. employees of
            Sellers&#8217; Parent and certain of its Subsidiaries.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Tredegar Post-Retirement Medical and Life Insurance Plan</u>&#8221; means the post&#8209;termination retiree medical and life insurance plan sponsored and retained by Sellers&#8217; Parent for the benefit of
            certain current and former U.S. employees of Sellers&#8217; Parent and certain of its Subsidiaries.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Tredegar Retained Business</u>&#8221; means the business conducted at any time by Sellers&#8217; Parent or any of its Subsidiaries other than the Personal Care Business.&#160; For the avoidance of doubt,
            &#8220;Tredegar Retained Business&#8221; shall include (i) the surface protection films business of Tredegar&#8217;s Surface Protection business unit and the business and operations associated therewith, and (ii) coex films used in the surface protection
            industry and the monolayer cast film and blown film packaging line and associated assets located in Pottsville, Pennsylvania and the business and operations associated therewith.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Tredegar Retained Business Assets</u>&#8221; means all properties, assets, Contracts and rights of every kind and nature, tangible or intangible (together with any goodwill symbolized by or
            associated with such intangible properties, assets and rights), real or personal, wherever located and whether now existing or hereafter acquired, in each case primarily relating to, or primarily used or held for use in the conduct of, the
            Tredegar Retained Business, and including the Tredegar Retained Business CI and the assets of the Tredegar Pension Plan and the Tredegar Post-Retirement Medical and Life Insurance Plan.</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-14-</font></div>
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
          </div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Tredegar Retained Business CI</u>&#8221; means competitively sensitive, proprietary or confidential information of the Tredegar Retained Business, including trade secrets, know-how and related
            information.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>U.S. Benefit Plan</u>&#8221; means any Benefit Plan maintained by any Target Company or any Target Subsidiary or any ERISA Affiliate on behalf of current or former employees of any Target Company
            or any Target Subsidiary who are or were based in the U.S.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>VAT</u>&#8221; means any value added, goods and services, or similar Tax.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>WARN Act</u>&#8221; means the Worker Adjustment and Retraining Notification Act of 1988 and any similar Law requiring advance notice of plant closings or mass layoffs.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">&#8220;<u>Withholding Tax Amount</u>&#8221; means the sum of the Brazilian Withholding Tax Amount and the Indian Withholding Tax Amount.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;"><u>Other Capitalized Terms</u>.&#160; The following terms shall have the meanings specified in the indicated section of this Agreement.</div>
          <div>&#160;</div>
          <table cellspacing="0" cellpadding="0" border="0" id="z292f2d738b8a4783b3d4b92a0aad8109" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div style="font-weight: bold;"><u>Term</u></div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div style="font-weight: bold;"><u>Section</u></div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Accounting Firm</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>2.3(b)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Adjustment Excess</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>2.3(d)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Adjustment Shortfall</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>2.3(d)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Agreement</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Preamble</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Antitrust Governmental Authority</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.4(d)(i)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Base Consideration</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>2.2(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Buyers</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Preamble</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Buyers&#8217; 401(k) Plan</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.6(d)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Buyers&#8217; Approvals</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>6.4</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Buyers&#8217; Indemnified Party or Parties</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.2(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Buyers&#8217; Parent</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Preamble</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Closing</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>3.1</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Closing Date</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>3.1</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Closing Statement</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>2.3(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Closing Transaction Expenses</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>2.2(b)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Consents</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.4(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Contest</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.7(e)(i)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Direct Claim</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.3</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Dispute</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>2.3(b)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Drop-Down Escrow Release Date</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.1</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Estimated Adjustment Amount</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>2.2(b)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Estimated Purchase Price</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>2.2(a)(i)</div>
                </td>
              </tr>

          </table>
          <div><br>
          </div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-15-</font></div>
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
          </div>
          <table cellspacing="0" cellpadding="0" border="0" id="z6cff6d4d2c974d2cb05a7ff6e04e22f9" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div style="font-weight: bold;"><u>Term</u></div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div style="font-weight: bold;"><u>Section</u></div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Estimated Retsag Post-Closing Costs</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.16(b)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Excess Withholding Tax Amount</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.7(b)(i)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Far East</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Preamble</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>FCPA</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>5.30(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Final Adjustment Amount</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>2.3(d)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Final Escrow Release Date</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.1</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Financial Statements</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>5.9</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Fitesa Brazil</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Preamble</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Fitesa US</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Preamble</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Indemnification Liability</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.16(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Indemnified Party</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.3(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Indemnified Persons</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.7</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Indemnifying Party</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.3(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Indemnity Reduction Amounts</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.4(g)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Interests</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Recitals</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Intermediate Cap Specific Indemnities</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Annex 11.2(a)(v)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Investments</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Preamble</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>LatAm</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Preamble</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Latest Balance Sheet</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>5.9</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Losses</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.2(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Material Contracts</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>5.14(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Minor Claim</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.4(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Miramar</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Preamble</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Money Laundering Laws</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>5.30(b)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Nominee Interest</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>4.6(b)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Non-Party Affiliates</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>12.13</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Notice of Claim</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.3(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Objections Statement</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>2.3(b)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Payoff Letters</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>2.2(b)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Post-Closing Events</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.7(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Post-Closing Tax Returns</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.7(b)(ii)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Post-Closing Transfer</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.2(b)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Pre-Closing Statement</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>2.2(b)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Pre-Closing Tax Returns</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.7(b)(i)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Purchase Price</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>2.2(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Purchase Price Allocation</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.7(g)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Restoration Plan</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.6(e)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Retsag Capital Project Cost Reimbursement</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.16(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Retsag Excess Capital Project Overrun</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.16(b)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Retsag Remediation Completion Certificate</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.16(d)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Retsag Remediation Completion Certificate Objection</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.16(e)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Retsag Remediation Completion Certificate Objection Dispute</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.16(e)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Retsag Remediation Liability</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.16(d)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>R&amp;W Policy</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>6.10</div>
                </td>
              </tr>

          </table>
          <div><br>
          </div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-16-</font></div>
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
          </div>
          <table cellspacing="0" cellpadding="0" border="0" id="zeb9c0534af2348d890aa86762b5ed080" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div style="font-weight: bold;"><u>Term</u></div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div style="font-weight: bold;"><u>Section</u></div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Registered IP</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>5.15(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Sellers&#8217; 401(k) Plan</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.6(d)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Sellers&#8217; Affiliate Contracts</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>5.23</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Sellers&#8217; Approvals</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>4.4</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Sellers&#8217; Indemnified Party or Parties</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.2(b)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Sellers&#8217; Legal Advisors or Sellers&#8217; Legal Advisor</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>12.12</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Sellers&#8217; Parent</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Preamble</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Sellers&#8217; Representative</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Preamble</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Straddle Period</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.7(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Straddle Tax Returns</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.7(b)(ii)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Surface Protection Payment</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.5(c)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Target Company or Target Companies</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Recitals</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Tax Benefit</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.4(g)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Tail Policy</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.7</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Target Companies Approvals</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>5.5</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Target Companies Insurance Policies</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>5.19(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Termination Date</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>10.1(d)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>TFP</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Recitals</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>TFP Interests</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Recitals</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Third Party Claim</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.3(b)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Threshold Amount</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>11.4(a)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Tredegar Brasil</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Recitals</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Tredegar Brasil Interests</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Recitals</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Tredegar India</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Recitals</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Tredegar India Interests</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Recitals</div>
                </td>
              </tr>
              <tr>
                <td style="width: 60%; vertical-align: top;">
                  <div>Works Council</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div>7.2(b)</div>
                </td>
              </tr>

          </table>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 72pt;">1.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Interpretive Provisions</u>.&#160; Unless the express context otherwise requires:</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the words &#8220;hereof,&#8221; &#8220;herein&#8221; and &#8220;hereunder&#8221; and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision
            of this Agreement;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;terms defined in the singular shall have a comparable meaning when used in the plural, and vice versa;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the terms (i) &#8220;Dollars&#8221;, &#8220;$&#8221; and &#8220;USD&#8221; mean U.S. dollars; (ii)&#160;&#8220;Euros&#8221;, &#8220;&#8364;&#8221; and &#8220;EUR&#8221; mean the monetary unit of the European Union, (iii) &#8220;Forint&#8221;, &#8220;Ft&#8221; and &#8220;HUF&#8221; mean Hungarian
            forints, (iv) &#8220;Reais&#8221;, &#8220;R$&#8221; and BRL mean Brazilian reais; and (v)&#160;&#8220;Rupee&#8221;, &#8220;&#8377;&#8221; and &#8220;INR&#8221; mean Indian rupee;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; references herein to a specific Section, Subsection, Recital, Schedule or Exhibit shall refer, respectively, to Sections, Subsections, Recitals, Schedules or Exhibits of this
            Agreement;</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-17-</font></div>
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
          </div>
          <div style="text-align: justify; text-indent: 108pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;wherever the word &#8220;include,&#8221; &#8220;includes&#8221; or &#8220;including&#8221; is used in this Agreement, it shall be deemed to be followed by the words &#8220;without limitation&#8221;;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; references herein to any gender shall include each other gender;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;references herein to any Person shall include such Person&#8217;s heirs, executors, personal representatives, administrators, successors and assigns, except that nothing contained in
            this clause (g) is intended to authorize any assignment or transfer not otherwise permitted by this Agreement;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;references herein to a Person in a particular capacity or capacities shall exclude such Person in any other capacity;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the headings contained in this Agreement are intended solely for convenience and shall not affect the rights of the parties to this Agreement;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(j)&#160;&#160;&#160;&#160;&#160; &#160; &#160;&#160; if the last day for the giving of any notice or the performance of any act required or permitted under this Agreement is a day that is not a Business Day, then the time for the
            giving of such notice or the performance of such action shall be extended to the next succeeding Business Day; and</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the term &#8220;good standing (or equivalent concept)&#8221; only applies to jurisdictions where such concept is recognized by applicable Law.</div>
          <div>&#160;</div>
          <div>ARTICLE II<br>
            <br>
            <u>PURCHASE AND SALE OF INTERESTS</u></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">2.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Purchase and Sale of the Interests</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Upon the terms and subject to the conditions set forth in this Agreement and, in the case of the Tredegar India Interests, the Tredegar India Interests Purchase Agreement, (i) LatAm
            and Investments shall sell, assign, transfer and convey to Fitesa Brazil the Tredegar Brasil Interests, free and clear of any Liens, and Fitesa Brazil shall purchase and acquire, all of the Tredegar Brasil Interests owned by LatAm and
            Investments from LatAm and Investments, (ii) Far East shall sell, assign, transfer and convey to Miramar the Tredegar India Interests, free and clear of any Liens, and Miramar shall purchase and acquire, all of the Tredegar India Interests
            owned by Far East and from Far East (and Sellers&#8217; Parent and the Sellers shall cause the assignment, transfer and conveyance of legal ownership of the Nominee Interest to Nominee Interest Buyer), and (iii) Sellers&#8217; Parent shall sell, assign,
            transfer and convey to Fitesa US the TFP Interests, free and clear of any Liens, and Fitesa US shall purchase and acquire, all of the TFP Interests owned by Sellers&#8217; Parent and from Sellers&#8217; Parent, all in exchange for cash consideration equal
            to the Purchase Price.</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-18-</font></div>
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
          </div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; The sale, assignment, transfer, conveyance and delivery of the Tredegar India Interests from Far East to Miramar (including the assignment, transfer and conveyance of legal
            ownership of the Nominee Interest to Nominee Interest Buyer) will be effected pursuant to the Tredegar India Interests Purchase Agreement and the documents and instruments set forth in <u>Section&#160;2.4</u> thereunder that are required to be
            delivered at Closing in order to effect the purchase and sale of the Tredegar India Interests and the transfer of legal ownership of the Nominee Interest as contemplated thereby; <u>provided</u>, <u>however</u>, that the Tredegar India
            Interests Purchase Agreement shall serve purely to effect the legal transfer of the Tredegar India Interests to, and vest full and valid ownership in the Tredegar India Interests in, Miramar and the Nominee Interest Buyer.&#160; Notwithstanding
            anything herein to the contrary, any claims or cause of action related to the transactions contemplated by the Tredegar India Interests Purchase Agreement shall be governed solely in accordance with the terms and conditions of this Agreement; <u>provided</u>,
            <u>however</u>, that the foregoing shall not affect the right of a party to the Tredegar India Interests Purchase Agreement to enforce the express terms thereof against the other party thereto.&#160; Far East and Miramar shall not bring any claim or
            any cause of action under the India Interests Purchase Agreement, other than any claims for enforcement of the express terms thereof.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">2.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Calculation of Purchase Price</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Estimated Purchase Price</u>.&#160; The purchase price for the Interests (the &#8220;<u>Purchase Price</u>&#8221;) shall be $60,500,000.00 (the &#8220;<u>Base Consideration</u>&#8221;) <u>plus</u> the
            Adjustment Amount (if the Adjustment Amount is a positive number) or <u>minus</u> the absolute value of the Adjustment Amount (if it is a negative number).&#160; At Closing, Buyers shall pay to Sellers an amount equal to:</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Base Consideration <u>plus</u> the Estimated Adjustment Amount (if the Estimated Adjustment Amount is a positive number) or <u>minus</u> the absolute
            value of the Estimated Adjustment Amount (if it is a negative number) (the &#8220;<u>Estimated Purchase Price</u>&#8221;); <u>minus</u></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Escrow Amount; <u>minus</u></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Withholding Tax Amount.</div>
          <div>&#160;</div>
          <div style="text-align: justify;">The Estimated Purchase Price shall be subject to adjustment following Closing pursuant to <u>Section&#160;2.3</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160; &#160; &#160;&#160;&#160; <u>Pre-Closing Statement; Transaction Expenses</u>.&#160; Not fewer than two&#160;Business Days prior to the Closing Date, (i) Sellers&#8217; Representative shall deliver to Buyers&#8217; Parent a
            statement (the &#8220;<u>Pre-Closing Statement</u>&#8221;) setting forth Sellers&#8217; good faith estimates of (A)&#160;Cash and Cash Equivalents, (B) Closing Indebtedness, (C) Transaction Expenses, (D) Net Working Capital Adjustment, and, based on the foregoing,
            (E) the Adjustment Amount, in each case determined in accordance with the Accounting Principles (clause (E) being the &#8220;<u>Estimated Adjustment Amount</u>&#8221;), together with supporting documentation for such estimates and any additional
            information reasonably requested by Buyers&#8217; Parent, (ii) a customary payoff letter from each holder of Closing Indebtedness indicating the amount required to discharge such Closing Indebtedness in full at the Closing, and if any such Closing
            Indebtedness is secured, a customary undertaking by the holder thereof immediately upon payment in accordance with the payoff letter to discharge any Liens securing the same; <u>provided</u>, <u>however</u>, that with respect to the JPM
            Credit Facility, such payoff letter will be a partial lien release letter and include UCC-3 termination statements (the &#8220;<u>Payoff Letters</u>&#8221;), and (iii) Sellers&#8217; Representative shall deliver to Buyers&#8217; Parent final invoices and wire
            transaction instructions with respect to all Transaction Expenses to be paid by any Target Company or any Target Subsidiary at Closing, to the extent such invoices are made available to Sellers&#8217; Representative at such time (the &#8220;<u>Closing
              Transaction Expenses</u>&#8221;).</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-19-</font></div>
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
          </div>
          <div style="text-align: justify; text-indent: 108pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Escrow Amount</u>.&#160; At Closing, Buyers&#8217; Parent shall cause Buyers to deposit a portion of the Purchase Price, by wire transfer of immediately available funds to the Escrow
            Agent, in an amount equal to the Escrow Amount into the Escrow Account.&#160; The Escrow Amount will be disbursed from the Escrow Account in accordance with the terms of <u>Section&#160;11.1 </u>and the Escrow Agreement.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">2.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Purchase Price Adjustment</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Closing Statement</u>.&#160; Within 90 days following the Closing Date, Buyers&#8217; Parent shall prepare, in consultation with Sellers&#8217; Representative as necessary for such preparation,
            and deliver to Sellers&#8217; Representative a statement (the &#8220;<u>Closing Statement</u>&#8221;) setting forth Buyers&#8217; Parent&#8217;s determination of (i) Cash and Cash Equivalents, (ii)&#160;Closing Indebtedness, (iii) Transaction Expenses, (iv) Net Working Capital
            Adjustment and (v) the Adjustment Amount, in each case determined in accordance with the Accounting Principles.&#160; Following delivery of the Closing Statement, Buyers&#8217; Parent shall provide Sellers&#8217; Representative with access to any supporting
            documentation for the Closing Statement that Sellers&#8217; Representative may reasonably request.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160; <u>Dispute Resolution</u>.&#160; Within 45 days after Sellers&#8217; Representative&#8217;s receipt of the Closing Statement, Sellers&#8217; Representative shall deliver to Buyers&#8217; Parent a written
            statement either accepting the Closing Statement or specifying any good faith objections thereto in reasonable detail, including each item of dispute, the reasonable basis of such disagreement, and the Sellers&#8217; calculation of such item of
            dispute (an &#8220;<u>Objections Statement</u>&#8221;).&#160; If Sellers&#8217; Representative does not deliver an Objections Statement within such 45 day period, then the Closing Statement shall become final and binding upon all parties.&#160; If Sellers&#8217; Representative
            delivers an Objections Statement within such 45 day period, then Sellers&#8217; Representative and Buyers&#8217; Parent shall negotiate in good faith for ten days following Buyers&#8217; Parent&#8217;s receipt of such Objections Statement to resolve such objections
            (any unresolved objection, a &#8220;<u>Dispute</u>&#8221;).&#160; After such ten day period, any item or matter set forth in the Closing Statement that is not a Dispute shall become final and binding upon all parties.&#160; If Buyers&#8217; Parent and Sellers&#8217;
            Representative are unable to resolve all objections during such ten day period, then any remaining Disputes, and only such remaining Disputes, shall be resolved by Ernst &amp; Young LLP or, if such firm is not able or willing to serve in such
            capacity, another internationally ranked firm upon which Buyers&#8217; Parent and Sellers&#8217; Representative shall agree (the &#8220;<u>Accounting Firm</u>&#8221;).&#160; The Accounting Firm shall be instructed to resolve only such remaining Disputes that Buyers&#8217; Parent
            and Sellers&#8217; Representative have been unable to resolve in accordance with the terms of this Agreement as soon as reasonably practicable after such Disputes are submitted to the Accounting Firm and in any event, within 60&#160;days after
            submission.&#160; The resolution of such Disputes by the Accounting Firm will (i) be set forth in writing, (ii) reflect the application of the Accounting Principles (iii) be within the range of dispute between Buyers and Sellers, (iv) constitute an
            arbitral award, and (v) absent fraud or manifest error, be conclusive and binding upon all the parties upon which a judgment may be rendered by a court having proper jurisdiction.&#160; Upon delivery of such resolution, the Closing Statement, as
            modified in accordance with such resolution, shall become final and binding upon all parties.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Fees and Expenses of Accounting Firm</u>.&#160; The fees, costs and expenses of the Accounting Firm shall be allocated between Buyers, on the one hand, and Sellers, on the other
            hand, based upon the percentage by which the portion of the Disputes not awarded to each party bears to the amount actually contested by such party.&#160; For example, if Sellers&#8217; Representative claims that the appropriate adjustments are $1,000
            greater than the amount determined by Buyers&#8217; Parent and if the Accounting Firm ultimately resolves the Dispute by awarding to Sellers&#8217; Representative $300 of the $1,000 contested, then the fees, costs and expenses of the Accounting Firm will
            be allocated 30% (i.e., 300&#160; &#247;&#160; 1,000) to Buyers and 70% (i.e., 700&#160;&#160;&#247;&#160;&#160;1,000) to Sellers.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Final Adjustment Amount</u>.&#160; As used herein, &#8220;<u>Final Adjustment Amount</u>&#8221; means (i) if Sellers&#8217; Representative fails to deliver an Objections Statement in accordance with
            <u>Section&#160;2.3(b)</u>, the Adjustment Amount as set forth in the Closing Statement, or (ii) if the Adjustment Amount is resolved by resolution of Buyers&#8217; Parent and Sellers&#8217; Representative or by submission of any remaining Disputes to the
            Accounting Firm, as contemplated by <u>Section&#160;2.3(b)</u>, the Adjustment Amount as so resolved.&#160; If the Final Adjustment Amount is greater than the Estimated Adjustment Amount (the amount of such excess, the &#8220;<u>Adjustment Excess</u>&#8221;), then
            Buyers&#8217; Parent shall pay or cause to be paid to Sellers&#8217; Representative in cash, by wire transfer of immediately available funds to an account or accounts designated by Sellers&#8217; Representative in writing, the Adjustment Excess.&#160; If the Final
            Adjustment Amount is less than the Estimated Adjustment Amount (the absolute amount of such shortfall, the &#8220;<u>Adjustment Shortfall</u>&#8221;), then Sellers&#8217; Representative shall pay to Buyers, in cash, by wire transfer of immediately available
            funds to an account or accounts designated by Buyers&#8217; Parent in writing, the Adjustment Shortfall.&#160; All payments made pursuant to this <u>Section&#160;2.3(d)</u> shall be made within 15 Business Days of the determination of the Final Adjustment
            Amount.&#160; Whenever any payment under this <u>Section&#160;2.3(d)</u> shall be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day.&#160; All payments made pursuant to this <u>Section&#160;2.3</u> shall be
            treated by all parties for tax purposes as adjustments to the Purchase Price.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Purpose of Section&#160;2.3</u>.&#160; This <u>Section&#160;2.3</u> is not intended to be used to adjust for errors or omissions that may be found with respect to the Financial Statements or
            any inconsistencies between the Financial Statements and GAAP.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">2.4&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Tax Withholding</u>.&#160; Notwithstanding anything in this Agreement to the contrary, and although no tax withholding is currently anticipated for U.S. federal income Tax purposes,
            Buyers, each of the Target Companies and the Target Subsidiaries shall be entitled to deduct and withhold from the Purchase Price or any other payment made by them under this Agreement to any Person such amounts as Buyers or such Target Company
            or Target Subsidiary is required to deduct and withhold under applicable Law, and (i) with respect to the transfer of the Tredegar India Interests, such amount shall be the Indian Withholding Tax Amount, and (ii) with respect to the transfer of
            the Tredegar Brasil Interest, such amount shall be the Brazilian Withholding Tax Amount.&#160; Any amounts so deducted and withheld, to the extent timely paid over to the applicable Governmental Authority, shall be treated for all purposes of this
            Agreement as having been paid to the Person in respect of which such deduction and withholding was made.&#160; For any such payments other than the payment for the transfer of the Tredegar India Interests and the Tredegar Brasil Interests, Buyers&#8217;
            Parent agrees to provide notice to Sellers&#8217; Representative in advance of the Closing Date of the nature and type of Tax withholding that Buyers&#8217; Parent determines to be required in respect of the Estimated Purchase Price and shall allow
            Sellers&#8217; Representative to provide documentation to Buyers&#8217; Parent with a view to minimizing or eliminating such withholding; <u>provided</u>, <u>however</u>, that following delivery of any such documentation by Sellers&#8217; Representative,
            Buyers&#8217; Parent shall be entitled, in its good faith but sole discretion, to deduct such Tax withholding as it determines to be required under applicable Law.</div>
          <div>&#160;</div>
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          </div>
          <div>ARTICLE III<br>
            <br>
            <u>CLOSING</u></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">3.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Closing; Closing Date</u>.&#160; The closing of the sale and purchase of the Interests contemplated by this Agreement (&#8220;<u>Closing</u>&#8221;) shall take place remotely by means of
            facsimile, email, or other electronic transmission, on the third Business Day after the date that all of the conditions to Closing set forth in <u>Article VIII</u> and <u>Article IX</u> (other than those conditions which, by their terms, are
            to be satisfied or waived at Closing, but subject to the satisfaction or waiver of those conditions on the Closing Date) shall have been satisfied or waived by the party entitled to waive the same (and to the extent such waiver is permitted by
            applicable Law), or at such other time, place and date that Sellers&#8217; Representative and Buyers&#8217; Parent may agree in writing (such date when Closing occurs is referred to as the &#8220;<u>Closing Date</u>&#8221;); <u>provided</u>, <u>however</u>, that
            Buyers&#8217; Parent and Sellers&#8217; Representative intend that Closing will be effected, to the extent practicable, by conference call, the electronic delivery of documents (by fax, pdf or other electronic exchanges) and the prior physical exchange of
            certificates and certain other instruments to be held in escrow by outside counsel to the recipient party pending authorization by the delivering party (or its outside counsel) of their release on the Closing Date.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">3.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Transactions to Be Effected at Closing</u>.&#160; At Closing, the following transactions shall be effected by the parties hereto:</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Buyers shall:</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;pay to Sellers, by wire transfer of immediately available funds to a bank account or accounts designated by Sellers&#8217; Representative in the Pre-Closing
            Statement, an amount equal to the Estimated Purchase Price minus the sum of the Escrow Amount and the Withholding Tax Amount (the Indian Withholding Tax Amount portion of such Withholding Tax Amount to be deposited with the Indian Governmental
            Authorities responsible for taxation as contemplated by <u>Section&#160;11.7(j)</u> and the Brazilian Withholding Tax portion of such Withholding Tax Amount to paid to the Brazilian Governmental Authorities responsible for taxation as contemplated
            by <u>Section&#160;11.7(k)</u>) it being understood that the amount Buyers pay at Closing in respect of the Tredegar India Interests (less the Indian Withholding Tax Amount) shall be paid by wire transfer to a bank account of Far East;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; pay to Sellers, in the same wire transfer of immediately available funds contemplated by <u>Section 3.2(a)(i)</u>, the amount comprising the sum of the Closing
            Transaction Expenses and the Closing Indebtedness to be repaid at Closing as set forth on the Pre&#8209;Closing Statement for further remittance by or on behalf of Sellers in accordance with <u>Sections&#160;3.2(b)(i)</u> and <u>3.2(b)(ii)</u>,
            respectively;</div>
          <div>&#160;</div>
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            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-22-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(iii)&#160;&#160;&#160;&#160; &#160;&#160; pay to the Escrow Agent, for deposit into the Escrow Account, the Escrow Amount as described in <u>Section&#160;2.2(c)</u>; and</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160; deliver, or cause to be delivered, to Sellers&#8217; Representative each of the documents, certificates and items required to be delivered by Buyers&#8217; Parent pursuant
            to <u>Article IX</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Sellers shall:</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(i)&#160;&#160;&#160;&#160; &#160;&#160; &#160;&#160; pay, or cause to be paid, on behalf of the Target Companies, the Closing Transaction Expenses as set forth on the Pre-Closing Statement from the amount
            received by Sellers pursuant to <u>Section 3.2(a)(ii)</u> by wire transfer of immediately available funds;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(ii)&#160;&#160;&#160; &#160; &#160;&#160; pay, or cause to be paid, on behalf of the Target Companies or Target Subsidiaries (as applicable), as directed, all Closing Indebtedness to be repaid at
            Closing as set forth on the Pre-Closing Statement from the amount received by Sellers pursuant to <u>Section&#160;3.2(a)(ii)</u> by wire transfer of immediately available funds as specified in each Payoff Letter; and</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; deliver or cause to be delivered to Buyers&#8217; Parent each of the documents, certificates and items required to be delivered by Sellers pursuant to <u>Article
              VIII</u>.</div>
          <div>&#160;</div>
          <div>ARTICLE IV<br>
            <br>
            <u>REPRESENTATIONS AND WARRANTIES CONCERNING SELLERS</u></div>
          <div>&#160;</div>
          <div style="text-align: left; text-indent: 72pt;">Sellers represent and warrant to Buyers as follows concerning Sellers:</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">4.1&#160;&#160;&#160;&#160;&#160;&#160; <u>Organization of Sellers</u>.&#160; Each Seller has been duly organized and is validly existing as a corporation or limited liability company, as applicable, under the Laws of the
            Commonwealth of Virginia.&#160; Each Seller has the requisite power and authority to own or lease its properties and to conduct its business as it is now being conducted.&#160; Each Seller is duly licensed, qualified or registered to do business as a
            foreign Person in all jurisdictions in which it is required to be so licensed, qualified or registered, except where failure to be so licensed or qualified would not reasonably be expected to prevent, materially delay, materially impair or
            otherwise have a material adverse effect on, the ability of such Seller to enter into this Agreement or any other agreement contemplated hereby to which such Seller is a party or consummate the transactions contemplated hereby or thereby.</div>
          <div>&#160;</div>
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            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-23-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">4.2&#160;&#160;&#160; &#160; &#160;&#160; <u>Due Authorization of Sellers</u>.&#160; Each Seller has all requisite power and authority to execute and deliver this Agreement and each other agreement contemplated hereby to which
            such Seller is a party and to consummate the transactions contemplated hereby and thereby.&#160; The execution and delivery by each Seller of this Agreement and each other agreement contemplated hereby to which such Seller is a party and the
            consummation of transactions contemplated hereby and thereby have been duly and validly authorized and approved by all requisite corporate or limited liability company, as applicable, action, and no other corporate or limited liability company,
            as applicable, proceeding, consent or authorization on the part of any Seller is necessary to authorize this Agreement or the transactions contemplated hereby.&#160; This Agreement, and the other documents and instruments required hereby to which
            each Seller is a party, will be when executed and delivered by such Seller (assuming due authorization, execution and delivery of this Agreement by Buyers) the legal, valid and binding obligation of such Seller, enforceable against such Seller
            in accordance with their terms, subject to the Equity and Bankruptcy Exceptions.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">4.3&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Conflict</u>.&#160; The execution and delivery by each Seller of this Agreement and each other agreement contemplated hereby to which such Seller is a party and, assuming that all
            Sellers&#8217; Approvals have been properly obtained, the consummation of the transactions contemplated hereby do not and will not (a) breach, violate or conflict with any Organizational Documents of such Seller or (b) violate, conflict with or
            result in a breach of or default under, any provision of, or constitute an event that, after notice or lapse of time or both, would result in a violation of, conflict with, breach of or default under any applicable Law or Order binding upon or
            applicable to such Seller, in each case where such violation, conflict, breach or default would reasonably be expected to have a material adverse effect on such Seller&#8217;s ability to consummate the transactions contemplated hereby.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">4.4&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Authorization or Consents Required</u>.&#160; No notice to or consent, approval or authorization of, or designation, declaration or filing with, any Governmental Authority or other
            Person is required by any Seller with respect to such Seller&#8217;s execution or delivery of this Agreement or any other agreement contemplated hereby to which such Seller is a party or the consummation of the transactions contemplated hereby,
            except for those (a) as to which the failure to give or obtain would not reasonably be expected to have a material adverse effect on such Seller&#8217;s ability to consummate the transactions contemplated hereby, (b) that have been given or obtained
            prior to the date hereof, or (c) set forth on <u>Schedule&#160;4.4</u> (the &#8220;<u>Sellers&#8217; Approvals</u>&#8221;).</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">4.5&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Litigation</u>.&#160; There are no Actions before or by any Governmental Authority (and, to the Knowledge of Sellers, no such Action has been threatened) against or affecting any
            Seller (a) under any bankruptcy or insolvency Law or (b) that would reasonably be expected to affect adversely or restrict the ability of such Seller to enter into and perform such Seller&#8217;s obligations under this Agreement or any other
            agreement contemplated hereby to which such Seller is a party.&#160; No Seller is subject to any outstanding Order that prohibits or otherwise restricts in any material respect the ability of such Seller to consummate fully the transactions
            contemplated hereby.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">4.6&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Title to Interests</u>.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Each Seller is the owner beneficially and of record, of the applicable Interests as set forth on <u>Schedule&#160;5.6</u>; subject to the potential increase in the Capital Stock of
            Tredegar India described on <u>Schedule&#160;5.6</u>.&#160; Other than the Interests, no Seller nor TFP holds any other Capital Stock of any Target Company, and no other Capital Stock of any Target Company is issued and outstanding.&#160; Each Seller has
            title to the Interests owned by it, free and clear of all Liens other than Liens that will be released at Closing.&#160; Upon transfer to the applicable Buyer at Closing of the Interests held by each Seller, title to such Interests will pass to such
            Buyer, free and clear of any Liens (subject to the delivery by the applicable parties of each of the applicable documents, certificates and items required to be delivered pursuant to <u>Article VIII</u> in connection with the transfer of the
            Interests).&#160; The sale and transfer of the Interests by each Seller as contemplated by this Agreement are not subject to any preemptive right, right of first refusal, option, warrant, purchase right, restriction or other Contract (other than any
            such right or restriction held by the applicable Target Company itself).</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Nominee Interest Shareholder is the legal owner of one share of Capital Stock of Tredegar India (the &#8220;<u>Nominee Interest</u>&#8221;) free and clear of all Liens other than Liens that
            will be released at Closing.&#160; Far East is the beneficial owner of the Nominee Interest free and clear of all Liens other than Liens that will be released at Closing.&#160; Upon transfer of legal ownership of the Nominee Interest to Nominee Interest
            Buyer and beneficial ownership of the Nominee Interest to Miramar at Closing, such legal and beneficial ownership of the Nominee Interest will pass to Nominee Interest Buyer and Miramar, respectively, free and clear of any Liens (subject to the
            delivery by the applicable parties of each of the applicable documents, certificates and items required to be delivered pursuant to <u>Article VIII</u> in connection with the transfer of the Nominee Interest).&#160; The transfer of the Nominee
            Interest as contemplated by this Agreement is not subject to any preemptive right, right of first refusal, option, warrant, purchase right, restriction or other Contract (other than any such right or restriction held by Far East or the Nominee
            Interest Shareholder itself or himself).</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">4.7&#160;&#160;&#160;&#160;&#160;&#160; <u>Sellers&#8217; Brokers</u>.&#160; Other than Sellers&#8217; Parent&#8217;s engagement of JP Morgan as its investment banker in connection with the transactions contemplated hereby, no broker, finder,
            investment banker or other Person is entitled to any brokerage fee, finder&#8217;s fee or other commission in connection with this Agreement based upon arrangements made by any Seller or any of its Affiliates.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">4.8&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Other Representations or Warranties</u>.&#160; Except for the representations and warranties contained in this <u>Article IV</u>, no Seller nor any other Person makes any other
            express or implied representation or warranty on behalf of Sellers.</div>
          <div>&#160;</div>
          <div>ARTICLE V<br>
            <br>
            <u>REPRESENTATIONS AND WARRANTIES CONCERNING THE TARGET COMPANIES</u></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">Sellers represent and warrant to Buyers as follows concerning the Target Companies:</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.1 &#160; &#160;&#160; &#160;&#160; <u>Organization of the Target Companies</u>.&#160; The Target Companies have been duly organized or incorporated, as applicable, and are validly existing in the form of legal entity set
            forth on <u>Schedule&#160;5.1</u> and each is in good standing (or equivalent concept), where applicable, or, in the case of Tredegar Brasil, is duly registered and has an active registration status before the relevant board of trade and national
            taxpayers&#8217; register, under the laws of its jurisdiction of organization set forth on <u>Schedule&#160;5.1</u>.&#160; Each Target Company has the requisite power and authority to own or lease its properties and to conduct its business as it is now being
            conducted.&#160; Each Target Company is duly licensed or qualified and is in good standing (or equivalent concept), where applicable, in all other jurisdictions in which it is required to be so licensed or qualified.</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-25-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">5.2&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Due Authorization of the Target Companies</u>.&#160; Each Target Company has all requisite power and authority to execute and deliver each agreement contemplated by this Agreement to
            which such Target Company is a party and to consummate the transactions contemplated thereby.&#160; The execution and delivery by each Target Company of each agreement contemplated hereby to which such Target Company is a party and the consummation
            of transactions contemplated thereby have been duly and validly authorized and approved by all requisite corporate or limited liability company, as applicable, action, and no other corporate or limited liability company, as applicable,
            proceeding, consent or authorization on the part of any Target Company is necessary to authorize the transactions contemplated thereby.&#160; The agreements, documents and instruments required hereby to which each Target Company is a party will be
            when executed and delivered by such Target Company (assuming due authorization, execution and delivery of such agreements, documents and instrument by the other parties thereto) the legal, valid and binding obligation of such Target Company,
            enforceable against such Target Company in accordance with their terms, subject to the Equity and Bankruptcy Exceptions.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.3&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Reorganization</u>.&#160; The transactions identified in <u>Exhibit B</u> as having been completed on or prior to the date hereof have been completed in accordance with the terms and
            conditions set forth therein.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.4&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Conflict</u>.&#160; Assuming that all Target Companies Approvals have been properly obtained and that the Closing Indebtedness set forth on the Pre-Closing Statement is repaid at
            Closing in accordance with <u>Section&#160;3.2</u>, the consummation of the transactions contemplated hereby do not and will not:</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;breach, violate or conflict with the Organizational Documents of any Target Company or any Target Subsidiary;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;except as set forth on <u>Schedule&#160;5.4(b)</u>, violate, conflict with or result in a breach of or default under any provision of, or constitute an event that, after notice or
            lapse of time or both, would result in a violation of, conflict with, breach of or default under, or accelerate the performance required under, any Material Contract to which the applicable Target Company or any Target Subsidiary is a party or
            by which any assets of any Target Company or any Target Subsidiary are bound; or</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;violate, conflict with or result in a breach of or default under, any provision of, or constitute an event that, after notice or lapse of time or both, would result in a violation
            of, conflict with, breach of or default under any applicable Law or Order binding upon or applicable to any Target Company or any Target Subsidiary;</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">except, in the cases of clause (b) or (c), as would not reasonably be expected to have a Material Adverse Effect.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.5&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Authorization or Consents Required</u>.&#160; No notice to or consent, approval or authorization of, or designation, declaration or filing with, any Governmental Authority or other
            Person is required by any Target Company or any Target Subsidiary with respect to the execution, delivery, and performance of this Agreement or any of the agreements contemplated hereby to which any Target Company or any Target Subsidiary is
            party or with respect to the consummation of the transactions contemplated hereby, except for those (a) as to which the failure to give or obtain would not reasonably be expected to have a Material Adverse Effect, (b) that have been given or
            obtained prior to the date hereof, or (c) set forth on <u>Schedule&#160;5.5</u> (the items referred to in clauses (b) and (c), the &#8220;<u>Target Companies Approvals</u>&#8221;).</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.6&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Target Companies&#8217; Interests</u>.&#160; The Interests being acquired by Buyers pursuant to this Agreement and set forth on <u>Schedule&#160;5.6</u> represent all of the issued and
            outstanding Capital Stock of the Target Companies.&#160; All Interests are duly authorized, validly issued, fully paid, and non-assessable, are free and clear of any Lien (other than a Lien that will be released at Closing), have been issued in
            compliance with all applicable securities and corporate Laws, and were not created in violation of any preemptive rights, rights of first refusal, similar rights created by statute or any of the Target Companies&#8217; respective Organizational
            Documents.&#160; There are no outstanding or authorized options, warrants, stock appreciation, phantom stock, profit participation or similar rights with respect to the Capital Stock of any Target Company to which such Target Company is a party or
            is bound.&#160; No Target Company has any authorized or outstanding bonds, debentures, notes or other indebtedness the holders of which have the right to vote (or are convertible into, exchangeable for or evidencing the right to subscribe for or
            acquire securities having the right to vote) with the applicable Seller on any matter.&#160; There are no Contracts to which any Target Company is a party or by which it is bound to (a) repurchase, redeem or otherwise acquire any Capital Stock of,
            or other equity or voting interest in, such Target Company, or (b)&#160;vote or dispose of any Capital Stock of such Target Company.&#160; No Person (other than the applicable Target Company itself) has any right of first offer, right of first refusal or
            preemptive right in connection with any future offer, sale or issuance of Capital Stock of any Target Company.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.7&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Subsidiaries</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Schedule&#160;5.7(a)</u> sets forth a correct and complete list of each Target Subsidiary and its jurisdiction of organization or incorporation, as applicable, and identifies the
            issued and outstanding Capital Stock of such Target Subsidiary; <u>provided</u>, <u>however</u>, that as a result of the Reorganization Completion, after the date hereof and before the Closing, Tredegar Personal Care will have been merged
            with and into TFP, and will therefore no longer be a Target Subsidiary as of the Closing Date, and the remainder of the representations and warranties in this <u>Section 5.7</u> will not be made on the Closing Date with respect to Tredegar
            Personal Care.&#160; Each of the Target Subsidiaries set forth on <u>Schedule&#160;5.7(a)</u> is duly organized or incorporated, as applicable, validly existing and in good standing (or equivalent concept), where applicable, in each case under the
            applicable laws of the jurisdiction of each Target Subsidiary&#8217;s organization or incorporation, as applicable, and each of the Target Subsidiaries has all requisite power and authority to own or lease its properties and to conduct its business
            as it is now being conducted.&#160; Each Target Subsidiary is duly licensed or qualified and is in good standing (or equivalent concept), where applicable, in all other jurisdictions in which it is required to be so licensed or qualified.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160; All of the issued and outstanding Capital Stock of each Target Subsidiary set forth on <u>Schedule&#160;5.7(a)</u> is duly authorized, validly issued, fully paid and non&#8209;assessable and
            is owned, beneficially and of record, by the applicable Target Company or Target Subsidiary as set forth on <u>Schedule&#160;5.7(a)</u>, free and clear of all Liens other than Liens that will be released at Closing.&#160; There are no outstanding or
            authorized options, warrants, stock appreciation, phantom stock, profit participation or similar rights with respect to the Capital Stock of any Target Subsidiary to which such Target Subsidiary is a party or is bound.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other than the Capital Stock of each Target Subsidiary that is owned by the applicable Target Company or Target Subsidiary as set forth on <u>Schedule&#160;5.7(a)</u>, no Target Company
            or Target Subsidiary owns any Capital Stock of any other Person.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.8&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Litigation; Orders</u>.&#160; Except as set forth on <u>Schedule&#160;5.8</u>, (a) there are no Actions pending, or to Sellers&#8217; Knowledge, threatened against or affecting any Target
            Company or any Target Subsidiary, at law or in equity, and (b) none of the Target Companies or Target Subsidiaries is bound by any Order, in either the case of clause (a) or (b) of this <u>Section&#160;5.8</u> that is or would reasonably be
            expected to be, individually or in the aggregate, material and adverse to the Target Companies and Target Subsidiaries, taken as a whole.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.9&#160;&#160; &#160;&#160;&#160; <u>Financial Statements</u>.&#160; Attached to <u>Schedule&#160;5.9</u> are correct and complete copies of each of:&#160; (a) the unaudited combined balance sheet of the Target Companies and the
            Target Subsidiaries as of May 31, 2020 (the &#8220;<u>Latest Balance Sheet</u>&#8221;) and the related unaudited combined interim statement of operations for the Target Companies and the Target Subsidiaries for the five month period then ended; and (b) the
            unaudited combined balance sheet of the Target Companies and the Target Subsidiaries as of December 31, 2019 and the related unaudited combined statement of operations for the Target Companies and the Target Subsidiaries for the year then
            ended.&#160; The financial statements attached to <u>Schedule&#160;5.9</u> are hereinafter referred to as the &#8220;<u>Financial Statements</u>.&#8221;&#160; The Financial Statements have been prepared in accordance with the Accounting Principles, consistently applied
            throughout the periods indicated, and present fairly in all material respects the combined financial condition and results of operations of the Target Companies and the Target Subsidiaries as of the times and for the periods referred to
            therein, subject to (i) the absence of footnote disclosures and other presentation items and (ii) changes resulting from normal year-end adjustments.&#160; Since December 31, 2019, there has been no change in any accounting (or tax accounting)
            policy, practice, or procedure of any the Target Companies or any Target Subsidiaries from those reflected in the Financial Statements and as described in the Accounting Principles.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.10&#160;&#160;&#160;&#160; <u>Absence of Undisclosed Liabilities</u>.&#160; There are no liabilities or obligations relating to the Target Companies or the Target Subsidiaries of any nature, whether known or
            unknown, direct or indirect, accrued or fixed, absolute or contingent, matured or unmatured or otherwise other than liabilities or obligations, individually or in the aggregate, (a) disclosed, reflected in, or reserved against the Latest
            Balance Sheet, (b) that were incurred since the date of the Latest Balance Sheet in the ordinary course of business, (c) that will have been or will be discharged or paid in full prior to the Closing Date, (d) for Transaction Expenses incurred
            in connection with Closing of the transactions contemplated hereby, or (e) that would not, individually or in the aggregate, be material to the business of the Target Companies and Target Subsidiaries.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">5.11&#160;&#160;&#160;&#160;&#160; <u>Inventory</u>.&#160; The Inventory is owned free and clear of all Liens other than Permitted Liens and Liens that will be released at Closing.&#160; At Closing, the Inventory will be items
            of a quality usable or saleable by the Personal Care Business in the ordinary course of business, net of recorded reserves, and will be in quantities sufficient for the normal operation of such business in accordance with past practices.&#160; None
            of the Target Companies&#8217; or Target Subsidiaries&#8217; inventory is held on consignment, or otherwise, by third parties.&#160; All inventories are valued at the lower of cost or fair market value on a first-in, first-out basis consistent with past
            practice used in the preparation of the Financial Statements.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.12&#160;&#160;&#160;&#160;&#160; <u>Absence of Certain Developments</u>.&#160; Except as set forth on <u>Schedule&#160;5.12</u> and as set forth in <u>Exhibit B</u> in connection with matters related to the Reorganization
            and the Non-Continuing Employees, since the date of the Latest Balance Sheet:</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Target Companies and the Target Subsidiaries have, in all material respects, conducted their respective businesses and operated their properties in the ordinary course of
            business consistent with past practice;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;there has been no adverse change, occurrence, or omission that by itself or together with other changes, occurrences, and omissions, has had, or could reasonably be expected to
            have, a Material Adverse Effect;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;there has been no casualty, loss, damage or destruction (whether or not covered by insurance) of any property that is material to the business of the Target Companies and the
            Target Subsidiaries; and</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;no Target Company nor any Target Subsidiary has taken any action that, if taken after the date hereof, would require the consent of Buyers&#8217; Parent pursuant to <u>Section&#160;7.1(a)</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.13&#160;&#160;&#160;&#160;&#160;&#160; <u>Taxes</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160; &#160; &#160;&#160; Except as set forth on <u>Schedule&#160;5.13(a)</u>:&#160; (i) all material Tax Returns that are required by Law to have been prepared<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#160;</sup>or filed (as the case may be) by or with respect to each Target Company or any Target Subsidiary have been duly prepared or filed (as the case may be) and were true, correct and complete in all material respects,
            (ii) all material Taxes of each Target Company and Target Subsidiary have been paid in full, other than Taxes being contested in good faith and for which adequate reserves have been established on the Latest Balance Sheet, including those Taxes
            being contested as listed in Attachment 5.13(a)(i) to <u>Schedule&#160;5.13(a)</u>, (iii) there are no outstanding or, to the Knowledge of Sellers, threatened audits or other examinations or administrative or judicial proceedings in connection with
            Tax Returns referred to in clause (i) of this <u>Section&#160;5.13(a)</u> or Taxes referred to in clause (ii) of this <u>Section&#160;5.13(a)</u>), and (iv) as of the date hereof, no waivers or extensions or requests for waivers or extensions of any
            statute of limitations with respect to any Taxes of any Target Company or any Target Subsidiary are outstanding.&#160; All material Taxes required to have been withheld, collected deposited or paid by or with respect to the Target Companies and the
            Target Subsidiaries have been withheld, collected deposited or paid, in connection with amounts paid or owing to any employee, independent contractor, creditor, equity holder or other Person.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except as set forth on <u>Schedule&#160;5.13(b)</u>, within the three year period preceding the date of this Agreement, no claim has been made in writing by any Governmental Authority
            in a jurisdiction where a Target Company or Target Subsidiary has not filed a Tax Return that it is or may be subject to Tax by such jurisdiction.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except as set forth on <u>Schedule&#160;5.13(c)</u>, no Target Company nor any Target Subsidiary (i) has been a member of a consolidated, affiliated, combined, unitary or other Tax
            group for purposes of any Tax or (ii) is a party to any Tax allocation or Tax sharing agreement (excluding customary Tax allocation or sharing provisions in commercial contracts not primarily relating to Taxes) or is liable for Tax of another
            Person, whether as a transferee or successor, by operation of Law, by Contract, or otherwise.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; There are no Liens for Taxes upon any asset of any Target Company or any Target Subsidiary (other than Permitted Liens).</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No Target Company nor any Target Subsidiary is subject to any private letter ruling from the Internal Revenue Service or any similar ruling with any other Governmental Authority.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No Target Company nor any Target Subsidiary is treated or has been treated for Tax purposes as a resident in a country other than the country of its organization.&#160; Except as set
            forth on <u>Schedule&#160;5.13(f)</u>, no Target Company nor any Target Subsidiary has, or has had, a branch, agency, trade or business, business connection, or permanent establishment for Tax purposes in a country other than the country of its
            organization.&#160; The Target Companies and Target Subsidiaries have complied in all material respects, including preparing and maintaining any required records and documentation, with applicable transfer pricing Laws.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No Target Company nor any Target Subsidiary has been or will be required for Tax purposes to include any item of income in, or exclude any item of deduction from, taxable income
            for any taxable period (or portion thereof) ending after the Closing Date as a result of any:&#160; (i) change in method of accounting made on or prior to the Closing Date; (ii) &#8220;closing agreement&#8221; as described in Section 7121 of the Code (or any
            Contract entered into pursuant to a corresponding or similar provision of state, local, or foreign income Tax Law) executed on or prior to the Closing Date; (iii) installment sale or open transaction made or entered into on or prior to the
            Closing Date; (iv) prepaid amount received on or prior to the Closing Date; or (v) recognition of income on or prior to the Closing Date by a controlled foreign corporation (as defined in Section&#160;957 of the Code), passive foreign investment
            company (as defined in Section 1297 of the Code) or similar entity (as determined under a provision of state, local or foreign Tax Law similar to Section 957 or Section 1297 of the Code), in which a Target Company or Target Subsidiary owns an
            interest, or (vi) election under Section 108(i) of the Code made on or prior to the Closing Date.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except as set forth on <u>Schedule&#160;5.13(h)</u>, no Target Company nor any Target Subsidiary owns an interest in any Person that is treated as a flow-through or transparent
            pursuant to any applicable Tax Laws.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Far East holds the Tredegar India Interests as a &#8220;capital asset&#8221; in accordance with the provisions of the Republic of India Income Tax Act, 1961 and for accounting purposes, has
            at all times treated the Tredegar India Interests as investments, and not as &#8220;stock in trade.&#8221;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(j)&#160;&#160;&#160;&#160; &#160; &#160;&#160;&#160; Far East holds a valid Permanent Account Number in India.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(k)&#160;&#160;&#160;&#160;&#160; There are no outstanding demands or income Tax proceedings pending against Far East that could render the consummation of the sale of the Tredegar India Interests as contemplated
            hereby and by the Tredegar India Interests Purchase Agreement as void under Section 281 of the Republic of India Income Tax Act, 1961.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No Target Company nor any Target Subsidiary is, or is reasonably likely to be, liable for any Taxes or deprived of reliefs or allowances otherwise available to it under the Laws
            of the Republic of India, as a result of the Reorganization.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No restructuring or reorganization transaction that occurred or will occur at any time prior to Closing (whether or not such transaction is in connection with the transactions
            contemplated by this Agreement) resulted or will result in (i) the indirect transfer of Tredegar India Interests by TFP, or by any other Person, pursuant to Section 9 of the Republic of India Income Tax Act, 1961, or (ii) any Tax reporting or
            compliance obligations for Tredegar India.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Notwithstanding anything to the contrary in this Agreement, (i) the representations and warranties contained in this <u>Section&#160;5.13</u> and, (to the extent related to Taxes) <u>Section&#160;5.17</u>
            constitute the sole representations and warranties of Sellers relating to Taxes and (ii)&#160;no representations or guarantees are made with respect to the amount or availability of Tax attributes of any Target Company or any Target Subsidiary in
            any Post-Closing Tax Period.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.14&#160;&#160;&#160;&#160;&#160;&#160; <u>Contracts</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Schedule&#160;5.14(a)</u> sets forth a correct and complete list of all Material Contracts.&#160; &#8220;<u>Material Contracts</u>&#8221; means any Contract to which any Target Company or any Target
            Subsidiary is a party or by which any Target Company or any Target Subsidiary is bound that falls within any of the following categories (for the avoidance of doubt, excluding all (1) Leases, which are addressed exclusively in <u>Section&#160;5.21</u>,
            (2) Target Companies Insurance Policies, which are addressed in <u>Section&#160;5.19</u> and (3) purchase orders):</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160; all Contracts that are anticipated to require individual or aggregate annual payments, receipts or other consideration in excess of $200,000 and that are not
            otherwise required to be disclosed pursuant to another subsection of this <u>Section&#160;5.14(a)</u>;</div>
          <div>&#160;</div>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-31-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;all Contracts for, or setting forth any of the terms or conditions related to, the employment, commitment of employment or termination of employment of any (A)
            individual employee of any Target Company or any Target Subsidiary whose base annual compensation (exclusive of bonus and commission) is in excess of $100,000 (other than ordinary offer letters or confirmations of employment issued in the
            ordinary course of business for individuals who are employed on an at-will basis that do not include severance or other non-customary offer letter provisions), or (B)&#160;any individual consultant or individual independent contractor of any Target
            Company or any Target Subsidiary whose annual compensation is in excess of $100,000;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; all Contracts that provide for an increased payment or benefit, or accelerated vesting or funding, upon the execution hereof or Closing, or in connection with
            the transactions contemplated hereby for any individual employee, individual consultant or individual independent contractor of the Target Companies or any Target Subsidiaries whose compensation meets the thresholds set forth in <u>Section&#160;5.14(a)(ii)</u>,
            except for any such payments or benefits, or accelerated vesting or funding pursuant to any Target Company Benefit Plan or employment arrangement;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;all Contracts relating to Indebtedness of any Target Company or any Target Subsidiary;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; all Contracts granting any person a Lien (other than Permitted Liens) on all or any part of any asset (real, personal or mixed, tangible or intangible) of any of
            the Target Companies or Target Subsidiaries;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160; all Contracts with another Person that are anticipated to require individual or aggregate annual payments, receipts or other consideration of $100,000 or more
            that purport to limit or restrict the ability of any Target Company or any Target Subsidiary from entering into or engaging in any market or line of business or compete with any Person, or from soliciting, hiring, engaging, or doing business
            with any customer, vendor, supplier, employee, contractor, or other person;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(vii)&#160;&#160;&#160;&#160;&#160;&#160; all IP Licenses and all other Contracts under which a Person is obligated to pay or receive a franchise fee, royalty payment, license payment or similar payment
            in respect of Intellectual Property, in each case, that are material to the business of the Target Companies and the Target Subsidiaries or involving an annual commitment or payment of in excess of $100,000 individually (other than (A)
            off-the-shelf licenses for software, (B) implied IP Licenses associated with products the Target Companies purchase from product suppliers or sell to customers and (C) IP Licenses between or among any of the Target Companies or any of the
            Target Subsidiaries or any combination thereof);</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(viii)&#160;&#160;&#160;&#160;&#160;&#160; all Contracts for capital expenditures or the acquisition or construction of fixed assets that are anticipated to require individual or aggregate payments in
            excess of $100,000 after the date hereof;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(ix)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; all Contracts for ongoing cleanup, abatement, or other actions in connection with any Hazardous Substance or ongoing remediation of any environmental matter
            that are anticipated to require individual or aggregate payments in excess of $100,000 after the date hereof;</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(x)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; all Contracts and agreements that are anticipated to require individual or aggregate annual payments, receipts or other consideration of in excess of $100,000
            and that grant to any person an option or a first refusal, first-offer, or similar preferential right to purchase or acquire any assets, or that contain &#8220;most favored customer&#8221; or similar terms;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(xi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; all Contracts and agreements with any sales agent, distributor, sales representative, broker, or dealer that are anticipated to require individual or aggregate
            annual payments in excess of $100,000 and are not terminable without penalty on 30&#160;days&#8217; or fewer notice;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(xii)&#160;&#160;&#160;&#160;&#160; other than as set forth in the respective Organizational Documents of the Target Companies and Target Subsidiaries, all Contracts pursuant to which a Target
            Company or a Target Subsidiary has agreed to provide indemnification to or hold harmless any officer, director, manager or employee of such Target Company or Target Subsidiary;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(xiii)&#160;&#160;&#160;&#160;&#160; all (A) joint venture or partnership contracts and (B) all other contracts providing for the sharing of any profits with a third party are anticipated to result
            individual or aggregate annual payments, receipts or other consideration in excess of $100,000;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(xiv)&#160;&#160;&#160;&#160;&#160;&#160; all Contracts with any employee leasing agency or professional employer organization for the engagement of employees or other service providers, including on a
            temporary or leased basis, in each case, that are anticipated to result in individual or aggregate annual payments in excess of $100,000;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(xv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; all Contracts with any Significant Customer or Significant Supplier;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(xvi)&#160;&#160;&#160;&#160;&#160; all collective bargaining agreements or other material Contracts with any labor union, works council, or labor organization in respect of any current or former
            employees of a Target Company or any Target Subsidiary;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(xvii)&#160;&#160;&#160; all settlement, conciliation, or similar Contract with any Governmental Authority or any other Person, including any such Contract relating to the settlement of
            any administrative of judicial proceedings, whether of alleged violations of Law or otherwise, in each case, that is anticipated to result in individual or aggregate payments by a Target Company or a Target Subsidiary in excess of $50,000 after
            the date hereof;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(xviii)&#160;&#160;&#160;&#160; all Contracts which are material to the operation of the Personal Care Business, taken as a whole, but not otherwise required to be included in <u>Schedule
              5.14(a)</u> by clauses (i) through (xvii); and</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(xix)&#160;&#160;&#160;&#160;&#160;&#160;&#160; any binding agreements (whether in writing or otherwise) to enter into any of the foregoing.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All Material Contracts are in full force and effect and are the legal, valid and binding obligations of the applicable Target Company or Target Subsidiary, enforceable in
            accordance with their terms, and, to Sellers&#8217; Knowledge, the other party thereto, subject to the due authorization of the other party thereto and the Equity and Bankruptcy Exceptions and applicable Law.&#160; No Target Company nor any Target
            Subsidiary is in material breach of or material default of any provision of any Material Contract, nor, to Sellers&#8217; Knowledge, is any other party thereto.&#160; Correct and complete copies of all Contracts in the possession or control of any Seller,
            the Target Companies or any Target Subsidiaries have been made available to Buyers.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.15&#160;&#160;&#160;&#160;&#160;&#160; <u>Intellectual Property</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160; &#160;&#160;&#160; <u>Schedule&#160;5.15(a)</u> sets forth a correct and complete list of all patents, trademark registrations, service mark registrations, copyright registrations, industrial designs, and
            domain names and applications for any of the foregoing owned by the Target Companies and Target Subsidiaries (collectively, the &#8220;<u>Registered IP</u>&#8221;) and the applicable owner of each item of Registered IP.&#160; The applicable Target Company or
            Target Subsidiary owns and possesses the entire right, title and interest in and to the Registered IP, free and clear of all Liens.&#160; Each item of the Registered IP is (i) subsisting and, (ii) to Sellers&#8217; Knowledge, valid and enforceable, except
            with respect to pending patent applications.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Target Companies and Target Subsidiaries own or have the right to use (pursuant to a valid IP License, in the case of Intellectual Property that is owned by another Person) all
            Intellectual Property that is used in or necessary for the operation of their respective businesses as presently conducted.&#160; On and after Closing, Sellers&#8217; Parent will own the name &#8220;Tredegar&#8221; and all derivations thereof, and the Target
            Companies and Target Subsidiaries shall have no right to use such names except in accordance with <u>Section&#160;7.11</u>.&#160; Except as described in the immediately preceding sentence, neither Sellers nor any of Sellers&#8217; Affiliates (other than the
            Target Companies and Target Subsidiaries) own any Intellectual Property that is used in or necessary for the conduct of the businesses of the Target Companies or Target Subsidiaries.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Within the three year period preceding the date of this Agreement, no Target Company nor any Target Subsidiary has (i) received any written notice of infringement,
            misappropriation or conflict with respect to Intellectual Property of any other Person (including any demands or unsolicited offers to license any Intellectual Property from any other Person), (ii)&#160;received any written notice challenging or
            questioning the validity, enforceability, use or ownership of any material Intellectual Property used by such Target Company or Target Subsidiary, or (iii) threatened any Person with an Action for infringing or misappropriating any of its
            Intellectual Property.&#160; The Intellectual Property owned by the Target Companies and Target Subsidiaries is not subject to (i) any outstanding judgment, injunction, order, decree or agreement, or (ii) any pending or, to Sellers&#8217; Knowledge,
            threatened action, suit, proceeding or claim by others challenging the ownership or other rights, validity, enforceability, scope or use thereof by the Target Companies and Target Subsidiaries.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To Sellers&#8217; Knowledge, the conduct of the businesses of the Target Company or Target Subsidiary does not infringe, violate, misappropriate or misuse any Intellectual Property
            rights of any Person or give rise to any obligations to any Person, and to Sellers&#8217; Knowledge, no Person is infringing upon any Intellectual Property owned or otherwise used by the applicable Target Company or any Target Subsidiary, including
            under an IP License.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Target Companies and Target Subsidiaries have implemented policies and procedures reasonably designed to establish and preserve the confidentiality and ownership of or exclusive
            rights in Intellectual Property created or developed by or on behalf of the applicable Target Company or Target Subsidiary, including requiring all employees, consultants, agents and contractors of such Target Company or Target Subsidiary who
            are or were involved in, or who have contributed to, the creation or development of any material Intellectual Property in the course of their service to such Target Company or Target Subsidiary to:&#160; (i) assign to the applicable Target Company
            or Target Subsidiary all such Intellectual Property and, where applicable, acknowledge that works to which they contributed are &#8220;works made for hire,&#8221; and (ii)&#160;agree to maintain the confidentiality of any source code, proprietary know-how,
            trade secrets or other confidential Intellectual Property of the applicable Target Company or Target Subsidiary.&#160; To Sellers&#8217; Knowledge, no employee, consultant, agent or contractor to any such agreement is in breach thereof.&#160; No trade secrets
            or any other confidential information of the Target Companies and Target Subsidiaries or of any Person to whom the Target Companies or Target Subsidiaries owes a duty of confidentiality has been disclosed by the Target Companies or Target
            Subsidiaries to any Person other than subject to binding, written confidentiality obligations restricting the disclosure and use of such trade secrets or any other confidential information by such Person.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except as set forth on <u>Schedule 5.15(f)</u>, the Target Companies and Target Subsidiaries will own, or will have a valid right to access and use, all material computer systems
            networks, hardware, software, websites, and equipment used to process, store, maintain and operate data, information, and functions used in connection with the businesses of Target Companies and Target Subsidiaries (the &#8220;<u>IT Systems</u>&#8221;) in
            the 12 months prior to the Closing Date as updated during such 12 month period by upgrades and modifications in the ordinary course of business.&#160; As of immediately prior to Closing, the IT Systems (i) will be (A) operating in a manner
            sufficient to support the operations of the Target Companies and the Target Subsidiaries, in substantially the same manner as they were supported during the 12 month period preceding the Closing Date, (B), to the Knowledge of Sellers,
            substantially free from material, reproducible programming errors or defects that would reasonably be expected to have a material and adverse impact on the operations of the Personal Care Business, and (C) scalable to meet current capacity;
            (ii) will have security, back-ups, disaster recovery arrangements, and hardware and software support and maintenance, consistent with reasonable business practices to minimize the risk of material error, breakdown, failure, or security breach
            occurring; (iii) will be configured and maintained in accordance with reasonable business practices to minimize the effects of viruses, and Sellers will have taken, or caused to have been taken, commercially reasonable measures to prevent the
            introduction into the IT Systems of viruses, worms, time bombs, back doors, Trojan horses or other malicious code, in each case, to the extent Known to a Seller, that would materially disrupt or materially and adversely affect their
            functionality; and (iv) will not have suffered any material error, breakdown, Known failure, or security breach that has caused material disruption or damage to the operation of the businesses of Target Companies and Target Subsidiaries or that
            would reasonably be expected to be potentially reportable to any Governmental Authority.</div>
          <div style="text-align: justify; text-indent: 108pt;"> <br>
          </div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">5.16&#160;&#160;&#160;&#160;&#160;&#160; <u>Title to, Description of and Sufficiency of Assets</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Target Companies and Target Subsidiaries hold and own good and valid title to or have good and valid leasehold interests in respect of or valid licenses to use, each of their
            respective material assets, free and clear of all Liens other than Permitted Liens and Liens that will be released at Closing.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except as set forth on <u>Schedule&#160;5.16(b)</u>, no Person other than the Target Companies or the Target Subsidiaries owns any equipment or other property or assets situated on
            the respective premises of the Target Companies and Target Subsidiaries, except for leased items that are subject to personal property leases.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except as set forth on <u>Schedule&#160;5.16(c)</u>, (i) the Personal Care Business Assets together with the benefit of the assets provided under the Transition Services Agreement
            collectively constitute all of the assets necessary for Buyers and their Affiliates to operate the Personal Care Business on and after Closing (for such time periods after Closing as are specified in the Transition Services Agreement with
            respect to the assets provided under the Transition Services Agreement) in the manner operated by the Target Companies and Target Subsidiaries immediately prior to Closing, (ii) except with respect to assets provided under the Transition
            Services Agreement and as contemplated by <u>Section&#160;7.11</u>, immediately following Closing, no Seller nor any of their Affiliates will own or lease any assets, properties or rights that are necessary for the conduct of the Personal Care
            Business, and (iii) except as set forth in the Transition Services Agreement, there are no material facilities, assets or properties shared with any other Person that are used by the Target Companies or Target Subsidiaries in the conduct or
            operation of the Personal Care Business.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The representations in <u>Section&#160;5.16</u> shall not apply to Real Property, which is governed by <u>Section&#160;5.21</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.17&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Employee Benefit Plans</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>U.S. Benefit Plans</u>:</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Schedule&#160;5.17(a)(i)</u> sets forth each U.S. Benefit Plan (other than (A) Government Plans, (B) Contracts for employment, set forth on <u>Schedule&#160;5.14</u>,
            (C)&#160;ordinary offer letters or confirmations of employment issued in the ordinary course of business that provide for at-will employment and do not include severance or other non&#8209;customary provisions (including, but not limited to, provisions
            relating to (i) retention, change of control, transaction, or sale payments or benefits, (ii) enhanced vacation, leave of absence or time-off benefits, (iii) non-customary retirement or health and welfare benefits, including defined benefit
            pension, excess, supplemental, non-qualified deferred compensation, post-termination, retiree welfare or similar benefits, or (iv) incentive, bonus or similar compensation or benefits, other than broad-based, annual cash bonuses), and
            (D)&#160;Contracts with individual independent contractors, set forth on <u>Schedule&#160;5.14</u>) and separately lists each U.S. Benefit Plan that is a Parent Plan and each U.S. Benefit Plan that is a Target Company Plan.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; With respect to each U.S. Benefit Plan, Sellers have made available to Buyers prior to the date hereof complete and correct copies of the following:&#160; (A) the
            current plan and trust documents (and all amendments thereto) and the most recent summary plan description; (B) the most recent annual report (Form 5500 series and all schedules thereto); (C)&#160;the most recent financial statements and actuarial
            report; (D) the most recent favorable determination letter from the IRS with respect to each Benefit Plan intended to qualify under Section 401(a) of the Code; (E) the most recent nondiscrimination tests performed under the Code; and (F) copies
            of material notices, letters or other correspondence from the IRS, U.S. Department of Labor, U.S. Department of Health and Human Services, Pension Benefit Guaranty Corporation or any other Governmental Authority relating to such U.S. Benefit
            Plan.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each U.S. Benefit Plan has been established, maintained, funded and administered in all material respects in compliance with its terms, the terms of any
            applicable collective bargaining agreement and the applicable requirements of ERISA, the Code and all other applicable Laws (including related regulations and rulings).&#160; With respect to each U.S. Benefit Plan, all contributions, distributions,
            reimbursements and premium payments that are due have been timely made in accordance with the terms of such U.S. Benefit Plan and in compliance with the requirements of applicable Law, and all contributions, distributions, reimbursements and
            premium payments that are not yet due have been made or properly accrued.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each U.S. Benefit Plan that is intended to be tax-qualified under Section 401(a) of the Code has received a favorable determination or opinion letter from the
            IRS on which the Sellers or a Target Company can rely stating that the plan document meets all of the requirements of the Code as of the date stated in the letter and that the trust associated with the plan is exempt from tax under Section
            501(a) of the Code or a timely application has been filed and remains pending with respect thereto, and nothing has occurred within the seven year period preceding the date of this Agreement, whether by action or failure to act, that has
            adversely affected or could reasonably be expected to adversely affect the qualified status of any such U.S. Benefit Plan or has caused or could reasonably be expected to cause the imposition of any liability, penalty or tax with respect to
            such qualified status.&#160; The IRS has not taken any action to revoke any such letter.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except as set forth on <u>Schedule 5.17(a)(v)</u>, no U.S. Benefit Plan is and none of the Target Companies sponsors, maintains, or contributes to, has any
            obligation to contribute to, or has any current or contingent liability or obligation under or with respect to, a plan that:&#160; (A) is subject to Title IV or Section 302 of ERISA or Section&#160;412, 430 or 4971 of the Code, (B) is a Multiemployer
            Plan, (C) has two or more contributing sponsors at least two of whom are not under common control, within the meaning of Section 4063 of ERISA, or (D) is a &#8220;multiple employer welfare arrangement&#8221; (as defined in Section 3(40) of ERISA).</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except as set forth on <u>Schedule 5.17(a)(vi)</u>, no U.S. Benefit Plan provides, and none of the Target Companies has any obligation to provide,
            post&#8209;termination or post-employment health, medical, life or other welfare benefits to current or former employees or other service providers of the Target Companies or any other Person other than health continuation coverage pursuant to COBRA
            or other applicable Law for which the covered Person pays the full cost of coverage.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(vii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; For the six year period preceding the date of this Agreement, (A) there has been no non-exempt &#8220;prohibited transaction&#8221; within the meaning of Section 4975 of
            the Code or Section 406 of ERISA, (B) no breach of fiduciary duty (as determined under ERISA) has occurred with respect to any U.S. Benefit Plan that would be reasonably likely to subject any Target Company to any material Tax, fine, lien,
            penalty or other liability imposed by ERISA, the Code or other applicable Law, and (C) none of the Target Companies has incurred any Tax or other penalty with respect to the reporting requirements under Sections 6055 and 6056 of the Code, as
            applicable, or under Section 4980B, 4980D or 4980H of the Code.&#160; There is no Action (whether federal, state, local or foreign) (other than routine claims for benefits) pending or, to the Knowledge of Sellers, threatened with respect to any U.S.
            Benefit Plan, and no such Action has occurred in the six year period preceding the date of this Agreement.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(viii)&#160;&#160;&#160;&#160;&#160;&#160; Except as set forth on <u>Schedule 5.17(a)(viii)</u>, neither the execution and delivery of this Agreement nor the consummation of the transactions
            contemplated hereby could, directly or indirectly (either alone or in conjunction with any other event) (A) cause the accelerated vesting, funding, timing of payment or delivery of, or result in there becoming due or increase the amount or
            value of, any payment (whether in cash, property or the vesting of property) or benefit to any current or former Target Service Provider; (B) result in an obligation to fund or otherwise set aside assets to secure to any extent any of the
            obligations under any Benefit Plan; (C) entitle any current or former Target Service Provider to severance pay or any other payment or benefit; (D) trigger any loan forgiveness or any funding obligation under any Benefit Plan; or (E) impose any
            restrictions or limitations on a Target Company&#8217;s rights to administer, amend or terminate any Target Company Plan.&#160; No amount that could be received (whether in cash or property or the vesting of property) by any current or former Target
            Service Provider or any other Person, as a result of the consummation of the transactions contemplated hereby would be non-deductible by reason of Section 280G of the Code or would be subject to an excise tax under Section 4999 of the Code.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(ix)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Each Benefit Plan that is subject to Section 409A of the Code has been administered in all material respects in compliance with its terms and Section 409A of
            the Code (including the operational and documentary requirements thereof) and all applicable regulatory guidance thereunder (including, notices, rulings and proposed and final regulations).&#160; For the purposes of the immediately preceding
            sentence,&#160; material non-compliance in the administration of a Benefit Plan subject to Section 409A of the Code shall include if a 20% additional Tax has been imposed on any Continuing Employee as a result of such administration.&#160; No Target
            Company or any of its Affiliates has any obligation to gross up, indemnify or otherwise reimburse any individual for any excise taxes, interest or penalties incurred pursuant to Section 409A of the Code.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(x)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;With respect to any U.S. Benefit Plan that is or was a Defined Benefit Plan, for the six year period preceding the date of this Agreement, (A) no Reportable
            Event has occurred, (B) there has been no filing of a notice by the plan administrator of intent to terminate such U.S. Benefit Plan, (C) there has been no institution of proceedings under Section 4042 of ERISA by the Pension Benefit Guaranty
            Corporation for the termination of, or the appointment of a trustee to administer, of any such U.S. Benefit Plan and (D) there has been no (w) filing under Section 412(c) of the Code or Section 302(c) of ERISA of any request for a minimum
            funding variance, (x) failure to make a required contribution that could result in the imposition of a Lien or the provision of security under Section 430 of the Code or Section 303 or 4068 of ERISA, or the arising of such a lien or
            encumbrance; (y) &#8220;unpaid minimum required contribution&#8221; or &#8220;accumulated funding deficiency&#8221; (as defined or otherwise set forth in Section&#160;4971 of the Code or Part 3 of Subtitle B of Title I of ERISA), or (z) failure to satisfy the minimum
            funding standard (within the meaning of Section 412 of the Code or Section 302 of ERISA) with respect to such U.S. Benefit Plan, in each case, whether or not waived.&#160; With respect to any U.S. Benefit Plan that is or was a Defined Benefit Plan,
            no termination has occurred, and no Lien in favor of the Pension Benefit Guaranty Corporation related to any such U.S. Benefit Plan has arisen.&#160; Neither the Sellers nor any ERISA Affiliate has engaged in the complete or partial withdrawal from
            any U.S. Benefit Plan that is a Defined Benefit Plan.&#160; There does not exist, nor do any circumstances exist that could reasonably be expected to result in, any liability after the Effective Time to Buyers or the Target Companies with respect to
            any U.S. Benefit Plan that is a Defined Benefit Plan.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Foreign Benefit Plans</u>:</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Schedule&#160;5.17(b)(i)</u> sets forth each Foreign Benefit Plan (excluding any Contract with an individual independent contractors, including those set forth on
            <u>Schedule&#160;5.14</u>), including each material Contract (other than ordinary offer letters or confirmations of employment issued in the ordinary course of business that do not include severance or other non-customary offer letter provisions)
            between any Target Company or any Target Subsidiary, on the one hand, and any non-U.S.-based employee of such Target Company or any Target Subsidiary, on the other hand.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each Foreign Benefit Plan has been administered in all material respects in compliance with its terms, the terms of any applicable collective bargaining
            agreement and the applicable requirements of applicable Law.&#160; Except as set forth on <u>Schedule&#160;5.17(b)(ii)</u> and with respect to Dutch sector-wide mandatory pension funds applicable to Tredegar Netherlands, to the Knowledge of Sellers, (A)
            each Foreign Benefit Plan that is required to be registered or approved by any Governmental Authority has been so registered and approved and has been maintained in good standing with applicable requirements of such Governmental Authority, and
            if intended to qualify for special tax treatment, there are no existing circumstances or events that have occurred that could reasonably be expected to affect adversely the special tax treatment with respect to such Foreign Benefit Plan, (B) no
            Foreign Benefit Plan is a defined benefit plan (as defined in ERISA, whether or not subject to ERISA), seniority premium, termination indemnity, provident fund, gratuity or similar plan or arrangement or has any unfunded or underfunded
            liabilities, and (C) all Foreign Benefit Plans that are required to be funded are fully funded, and adequate reserves have been established with respect to any Foreign Benefit Plan that is not required to be funded.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All contributions and other payments related to the period up to Closing Date due from or on behalf of any present or former employee of Tredegar Netherlands
            related to the obligations of Tredegar Netherlands in respect of retirement benefits, have or will have been paid to the relevant provider or have or will have been accounted for by a provision in the accounts of Tredegar Netherlands<font style="font-style: italic;">.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.18&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Labor and Employment Matters</u>.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except as set forth on <u>Schedule&#160;5.18(a)</u>, each Target Company and Target Subsidiary is and for the seven year period preceding the date of this Agreement has been, and with
            respect to current and former Target Service Providers, each Seller is and for the seven year period preceding the date of this Agreement has been, in compliance with all applicable Laws relating to employment, labor, and employment practices,
            including applicable Laws relating to terms and conditions of employment, wage and hour matters (including the classification of exempt and non-exempt employees), independent contractor classification, occupational health and safety,
            immigration (including the verification of Forms I-9 for all employees for whom a Form I-9 is required by Law and the proper confirmation of employee visas where required by Law), employment discrimination, harassment, retaliation, disability
            rights or benefits, equal employment opportunity (including compliance with any applicable affirmative action plan obligations), plant closures and layoffs (including the WARN Act), worker&#8217;s compensation, labor relations, employee leave issues,
            affirmative action, affirmative action plan requirements and unemployment insurance.&#160; For the seven year period preceding the date of this Agreement, each Target Company, Target Subsidiary and Seller has properly classified and treated each
            individual who is performing or has performed services for any Target Company or any Target Subsidiary as an employee or independent contractor for all applicable purposes.&#160; Each Target Company and each Target Subsidiary, and as applicable,
            each Seller and its Affiliates, has fully and timely paid all wages, salaries, wage premiums, commissions, bonuses, severance payments, expense reimbursements, fees, and other compensation that has come due and payable to all current and former
            employees of the Target Company and Target Subsidiary as required by applicable Law, Contract or policy of the applicable Target Company or Target Subsidiary.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except as set forth on <u>Schedule 5.18(b)</u> or as required by Law, (i)&#160;no Target Company nor any Target Subsidiary is a party to or otherwise bound by any collective
            bargaining agreement or other material Contract with a labor union, works council, or labor organization in respect of any of its current or former employees other than as set forth under subsection (xvi) of <u>Schedule 5.14(a)</u>; (ii) no
            Target Company nor any Target Subsidiary is the subject of any existing or, to Sellers&#8217; Knowledge, threatened proceeding seeking to compel it to bargain with any labor union, works council, or labor organization; (iii) there is no pending or,
            to Sellers&#8217; Knowledge, threatened, labor strike, dispute, walk-out, work stoppage, slow-down or lockout involving any Target Company or any Target Subsidiary; (iv) no current or former employee of any Target Company or any Target Subsidiary is
            or, to Sellers&#8217; Knowledge, was represented by a union, labor organization, or works council with respect to their employment with a Target Company or any Target Subsidiary; and (v) the execution of this Agreement does not, and the consummation
            of the transactions contemplated hereby will not, alone or in conjunction with any other event, result in or give rise to any obligation to notify, consult with or obtain the consent or approval of any union, labor organization, or works
            council.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt;">(c)&#160; &#160; &#160;&#160;&#160; Except as set forth on <u>Schedule 5.18(c)</u>, the terms of employment or engagement of all current Target Service Providers allow for their employment or engagement to be
            terminated at-will at any time without notice, without reason or cause, and without liability to a Target Company or a Target Subsidiary for payment of termination or severance compensation except as required by Law.&#160; For the seven year period
            preceding the date of this Agreement, each Target Company has paid in full to all current and former Target Service Providers all wages, salaries, commission, bonuses and other compensation due to such Target Service Providers, including
            overtime compensation in compliance in all material respects with applicable Law.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except as set forth on <u>Schedule 5.18(d)</u> with respect to each Target Company and each Target Subsidiary, (i) within the seven year period preceding the date of this
            Agreement, it has not implemented any employee layoff or reduction in force requiring notice under the WARN Act, (ii) it currently has no plan to undertake any action that would require notice under the WARN Act, and (iii) within the seven year
            period preceding the date of this Agreement, it has not incurred any liability under the WARN Act or any similar foreign, state, or local layoff notice law that remains unsatisfied.&#160; All payment obligations have been fully satisfied and no
            legal claims have been launched or, to Sellers&#8217; Knowledge threatened, related to any employment or termination of employment (including overtime compensation and bonus claims) with respect to the redundancy implemented at Tredegar Hungary in
            the course of February 2020.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except as set forth on <u>Schedule&#160;5.18(e)</u>, no allegations by a current of former Target Service Provider of sexual harassment, sexual misconduct or employment discrimination
            have been made against or related to any Target Company, Target Subsidiary or any current or former Target Service Provider.&#160; With respect to each allegation set forth on <u>Schedule&#160;5.18(e)</u>, the Target Companies and Target Subsidiaries
            have promptly, thoroughly and impartially investigated such allegation and, when applicable, taken prompt and necessary corrective action, including to prevent further harassment, misconduct and discrimination.&#160; No Target Company or Target
            Subsidiary has any liability with respect to any acts of sexual harassment, sexual misconduct or employment discrimination.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Schedule 5.18(f)</u> contains a complete and correct list, as of August 21, 2020, of (i) for each employee of any of the Target Companies, his or her name, work location, job
            title, current base salary and most recent annual bonus, and information regarding whether such individual is (A) full-time or part-time, (B) only with respect to employees of any Target Company or any Target Subsidiary domiciled in the United
            States, exempt or non-exempt, and/or (C) absent from active employment or service and if so, the date such absence commenced, the general reason for such absence (if known) and the anticipated date of return to active employment or active
            service of such employee (if known), and (ii) the name of each individual independent contractor who provides services to any Target Company and the amount of such contractor&#8217;s annual compensation.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except as set forth on <u>Schedule&#160;5.18(g)</u>, there is no pending or, to Sellers&#8217; Knowledge, threatened and within the six year period preceding the date of this Agreement
            there has been no, Action alleging violations of any labor or employment Law, including claims of unfair labor practice, employment discrimination, wrongful termination or similar matters against, related to, or affecting any Target Company or
            any Target Subsidiary, and no such Action has been resolved by entering into a settlement agreement that has any ongoing obligation.</div>
          <div>&#160;</div>
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            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-41-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160; No Target Company or Target Subsidiary has (i) materially reduced the compensation, benefits or otherwise materially reduced the working schedule of any of Target Service Provider,
            in each case, for any reason relating to the novel corona virus, (ii) implemented any layoffs or furloughs of Target Service Providers or (iii) elected to defer any Taxes payable by a Target Company or Target Subsidiary pursuant to Section 2302
            of the CARES Act that will not have been brought current prior to the date of Closing.&#160; Each Target Company and Target Subsidiary is in compliance with the employment and employee benefit plan obligations under the CARES Act and the FFCRA.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.19&#160;&#160;&#160;&#160;&#160;&#160; <u>Insurance</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Schedule&#160;5.19(a)</u> sets forth a correct and complete list of all material insurance policies for the benefit of or providing coverage with respect to each Target Company or
            each Target Subsidiary or any of its assets (including policies providing property, casualty, liability and workers&#8217; compensation coverage and bond and surety arrangements) (the &#8220;<u>Target Companies Insurance Policies</u>&#8221;) and accurately
            identifies the primary named insured party, the insurer, the amount of and nature of coverage, the risk insured against, the deductible amount (if any) and the date through which coverage will continue by virtue of premiums already paid.&#160;
            Sellers have made available to Buyers correct and complete copies of all such Target Companies Insurance Policies.&#160; Except as set forth on <u>Schedule&#160;5.19(a)</u>, all Target Companies Insurance Policies will terminate as to the Target
            Companies and the Target Subsidiaries by reason of the consummation of the transactions contemplated hereby.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except as set forth on <u>Schedule 5.19(b)</u>, no written notice of any cancellation, termination or non-renewal of any Target Companies Insurance Policy has been received by or
            on behalf of any Target Company or any Target Subsidiary, and all premiums with respect to any Target Companies Insurance Policy covering all current periods have been paid to the extent due, and no default exists under any such Target
            Companies Insurance Policy</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Schedule&#160;5.19(c)</u> sets forth a description of the type, dollar amount, and facts surrounding any material claims made by any of the Target Companies or Target Subsidiaries
            since December 31, 2019, under any such Target Companies Insurance Policies, and any amounts paid by the Target Companies or Target Subsidiaries directly to any third party in lieu of making a claim under any such Target Companies Insurance
            Policies.&#160; The Target Companies and Target Subsidiaries have not reached or exceeded the policy limit for any Target Companies Insurance Policy in effect at any time within the two year period preceding the date of this Agreement.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.20&#160;&#160;&#160;&#160;&#160;&#160; <u>Compliance with Laws; Other Business Practices</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except as set forth on <u>Schedule&#160;5.20(a)</u> and except with respect to Tax matters, as to which compliance with Laws matters are addressed exclusively in <u>Section&#160;5.13</u>,
            labor and employment matters, as to which compliance with Laws matters are addressed exclusively in <u>Section&#160;5.18</u>, and environmental matters, as to which compliance with Laws matters are addressed exclusively in <u>Section&#160;5.22</u>, the
            Target Companies and Target Subsidiaries are in compliance in all material respects with all Laws and Orders that are applicable to them in connection with the operation of their respective businesses and use of their assets, including the
            Owned Real Property and the Leased Real Property; and no Target Company nor any Target Subsidiary has received since December 31, 2019 any notice from any Governmental Authority regarding any material violation by any of them or failure by any
            of them to comply with any applicable Law or Order that has had or would reasonably be expected to have a Material Adverse Effect.</div>
          <div>&#160;</div>
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            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-42-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No Target Company, no Target Subsidiary, nor, to Sellers&#8217; Knowledge, any officer, director, employee, independent contractor, consultant or agent or any other Person acting on
            behalf of any Target Company or any Target Subsidiary has made, directly or indirectly, any payment or promise to pay, or gift or promise to give or authorized such a promise or gift, of any money or anything of value, directly or indirectly,
            to:&#160; (i) any foreign, federal, state, provincial or local governmental official for the purpose of influencing any official act or decision of such official or inducing him or her to use his or her influence to affect any act or decision of a
            foreign, federal, state, provincial or local governmental agency or subdivision thereof or (ii) any political party or official thereof or candidate for political office for the purpose of influencing any official act or decision of such party,
            official or candidate or inducing such party, official or candidate to use his, her or its influence to affect any act or decision of a foreign government or agency or subdivision thereof, in the case of both of the preceding clauses (i) and
            (ii) in order to assist any Target Company or any Target Subsidiary to obtain or retain business for or direct business to such Target Company or such Target Subsidiary under circumstances which would subject such Target Company or such Target
            Subsidiary to liability.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each Target Company has obtained all requisite material approvals from Governmental Authorities required under applicable Laws to conduct the business of such Target Company in the
            form and manner presently conducted.&#160; Such material approvals are valid and in full force and effect.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.21&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Real Property</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Owned Real Property</u>.&#160; <u>Schedule 5.21(a)</u> sets forth a correct and complete list of the Owned Real Property, an address of each Owned Real Property and the owner
            thereof.&#160; The Target Company or Target Subsidiary set forth on <u>Schedule 5.21(a)</u> owns and holds good and marketable fee simple title to the Owned Real Property, free and clear of any and all Liens, except for Permitted Liens and Liens
            that will be released as of Closing.&#160; There are no outstanding options, rights of first offer or rights of first refusal to purchase any Owned Real Property or any portion thereof or interest therein.&#160; Sellers have made available to Buyers
            correct and complete copies of all of the following documents, if any, in the possession or control of any Seller, the Target Companies or Target Subsidiaries:&#160; (i) deeds and other instruments (as recorded) by which a Target Company or Target
            Subsidiary acquired their respective interests in the Owned Real Property, and (ii) all title reports, surveys, title policies, title exception documents, and appraisals with respect to such Owned Real Property.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Leased Real Property</u>.&#160; <u>Schedule 5.21(b)</u> sets forth a correct and complete list of the address of each Leased Real Property and a correct and complete description of
            each Lease for such Leased Real Property, including the identification of the Target Company or Target Subsidiary that is the lessee or sub-lessee, as applicable, to such Lease (referred to in this <u>Section&#160;5.21</u> as a &#8220;<u>Lessee</u>&#8221;).Except





            as set forth on <u>Schedule 5.21(b)</u>, Sellers have made available to Buyers correct and complete copies of such Leases.</div>
          <div>&#160;</div>
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            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-43-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exceptions to Leased Real Property.&#160; Except as set forth on <u>Schedule 5.21(c)</u>:</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(i)&#160;&#160; &#160; &#160;&#160;&#160;&#160; each Lease for Leased Real Property is in full force and effect, and is the legal, valid, enforceable and binding obligation of the Target Company or Target
            Subsidiary which is party thereto, and, to Sellers&#8217; Knowledge, of the other party thereto;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;a Target Company or Target Subsidiary has a good and valid leasehold, sub-leasehold, or other real property interest in each parcel of Leased Real Property as
            to which it is a tenant, subtenant, or occupant under a Lease, and such leasehold, sub-leasehold, or other real property interest is free and clear of Liens other than Permitted Liens;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(iii)&#160;&#160; &#160; &#160;&#160;&#160; the transactions contemplated hereby do not require the consent of any other party to such Lease and will not result in a material breach of or material
            default under such Lease, or otherwise cause such Lease to cease to be legal, valid, binding and in full force and effect on identical terms following Closing;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the possession and quiet enjoyment of each Leased Real Property by the applicable Lessee is not currently being disturbed in any respect;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;other than Permitted Liens and Liens that will be released at Closing, no Lessee has collaterally assigned or granted any security interest in any of the Leases
            for the Leased Real Property to which it is a party;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(vi)&#160;&#160;&#160;&#160;&#160; the other party to each such Lease is not an Affiliate of any of the Target Companies or any Target Subsidiaries;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(vii)&#160;&#160;&#160;&#160;&#160;&#160; the Lessee and, to Sellers&#8217; Knowledge, the landlords or other parties leasing the Leased Real Property to such Lessee are not in violation of or default under
            any of the Leases for such Leased Real Property;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(viii)&#160;&#160;&#160;&#160;&#160;&#160; no Lessee has received any written notice from the landlord other parties leasing the Leased Real Property to such Lessee asserting a material violation of or a
            material default under the applicable Lease; and</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(ix)&#160;&#160;&#160;&#160; &#160;&#160; no party to any Lease has exercised any termination rights, options, right of first offer, or right of first refusal with respect thereto.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(d)&#160;&#160; &#160; &#160;&#160;&#160; <u>Other Owned Real Property and Leased Real Property Matters</u>.&#160; For each of the Owned Real Property and Leased Real Property, except as set forth on <u>Schedule&#160;5.21(d)</u>:</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(i)&#160;&#160; &#160;&#160; &#160;&#160;&#160;&#160; no Target Company nor any Target Subsidiary has leased, licensed, contracted to sell or otherwise granted to any Person the right to use or occupy any portion
            of the Owned Real Property or assigned any Lease or subleased, licensed, or otherwise granted to any Person the right to use or occupy the Leased Real Property or any part, portion or interest in the Leased Real Property, and there are no third
            parties in possession that are not entitled thereto of all or any portion of the Real Property;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; no Seller, no Target Company and no Target Subsidiary owes any brokerage commissions or finders&#8217; fees with respect to the Real Property;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; there is no condemnation, expropriation or eminent domain proceeding of any kind pending or, to Sellers&#8217; Knowledge, threatened against any of the Owned Real
            Property or Leased Real Property, or any portion thereof;</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;to Sellers&#8217; Knowledge, other than Permitted Liens and Liens that will be released at Closing and, in the case of Leased Real Property, the terms of the
            applicable Lease, there are no contractual or legal restrictions (including any applicable urbanization, zoning and other land use Law) that preclude or restrict the ability of any Target Company or Target Subsidiary to use their respective
            Real Property for the purposes for which they are currently being used; and</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(v)&#160;&#160; &#160;&#160; &#160; all buildings, structures, improvements, fixtures, building systems and equipment, and all components thereof, included in the Real Property are sufficient for
            their current use and the operation of the business of the Target Companies and Target Subsidiaries, are in all material respects structurally sound, in good operating condition and repair (ordinary wear and tear excepted), have been maintained
            in accordance with normal industry practice and are in compliance with all applicable Law.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>No Additional Property Interests</u>.&#160; Other than the Owned Real Property set forth on <u>Schedule 5.21(a)</u> and the Leased Real Property set forth on <u>Schedule 5.21(b)</u>,
            no Target Company nor any Target Subsidiary (i) has any other interest (x) in any real property, whether owned or leased, or (y) lease for real property, or (ii) is a party to any agreement or option to purchase any real property or interest
            therein.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.22&#160;&#160;&#160;&#160;&#160;&#160; <u>Environmental Matters</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except as set forth on <u>Schedule&#160;5.22(a)</u>, the Target Companies and Target Subsidiaries (i) are, and in the three year period preceding the date of this Agreement have been,
            in material compliance with applicable Environmental Laws; (ii) have not received in the three year period preceding the date of this Agreement any claim, complaint, citation, report or other written notice alleging the violation of any
            applicable Environmental Law; (iii) are not the subject of any pending, or to the Sellers&#8217; Knowledge, threatened Action by any Governmental Authority or other third party, in each case, regarding any material violation of or liabilities,
            including any investigatory, remedial or corrective obligations, arising under any Environmental Law other than Orders of general application to the jurisdiction in which a facility of a Target Company or a Target Subsidiary is located; and
            (iv) possess and are in compliance with in all material respects all permits, licenses, registrations, identification numbers, authorizations and approvals required under applicable Environmental Laws for the ownership and or occupancy of the
            Real Property and operation of their respective businesses as presently conducted, and such permits are valid and in full force and effect.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except as set forth on <u>Schedule&#160;5.22(b)</u>, no Target Company or Target Subsidiary has treated, stored, disposed of, arranged for or permitted the disposal of, transported,
            handled, generated, manufactured, exposed any Person to, or released any Hazardous Substances, and, to Sellers&#8217; Knowledge, no Real Property contains any Hazardous Substances that are not being treated, stored or disposed of in compliance with
            applicable Environmental Laws, and there have been no releases or disposal of Hazardous Substances by any third party at, on, or under (i) any Real Property or (ii) any other real property currently or previously owned, leased or operated or
            used by any Target Company or any Target Subsidiary, in each case, in a manner that has given rise to or could reasonably be expected to give rise to a material violation of or material Liability arising under Environmental Laws.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except as set forth on <u>Schedule&#160;5.22(c)</u>, no underground storage tank(s), landfill, surface impoundment, disposal area for Hazardous Substances, groundwater monitoring
            well, or asbestos-containing materials exist on any Owned Real Property or, to the Sellers&#8217; Knowledge, on any Leased Real Property.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(d)&#160;&#160;&#160;&#160;&#160; No Real Property is currently listed on the National Priorities List promulgated under the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended (&#8220;<u>CERCLA</u>&#8221;),






            or on any comparable state list.&#160; No Target Company nor any Target Subsidiary has been identified as a potentially responsible party in any current matter under CERCLA that is unresolved as to such Target Company or such Target Subsidiary, and
            no Target Company or Target Subsidiary has received any unresolved written notice, request for information, demand or claim from any Person under or relating to a current matter under CERCLA or any comparable state or local Law with respect to
            the Real Property or the operation of the Target Company&#8217;s or Target Subsidiary&#8217;s business as currently conducted.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Sellers have made available to Buyers correct and complete copies of all material environmental permits of the Personal Care Business that are currently in effect and all material
            reports, investigations, audits and material correspondence with any Governmental Authority for the three year period preceding the date of this Agreement that are in the possession or control of Seller, any Target Company or any Target
            Subsidiary relating to a Target Company&#8217;s or Target Subsidiary&#8217;s compliance with Environmental Law or the environmental conditions of the Real Property and any other property currently or previously owned, operated or used by any Target Company
            or Target Subsidiary.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(f)&#160;&#160;&#160; &#160; &#160;&#160;&#160; These representations and warranties contained in this <u>Section&#160;5.22</u> constitute the sole representations and warranties of Sellers with respect to any Environmental Law or
            other environmental matter.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">5.23&#160;&#160;&#160;&#160;&#160;&#160; <u>Affiliate Contracts</u>.&#160; Except as set forth on <u>Schedule&#160;5.23</u>, (a) there are no Contracts between or among any Target Company or any Target Subsidiaries, on the one
            hand, and a Seller or any current or, to the Knowledge of Sellers, former Affiliate of a Seller (or any of their respective shareholders, members, directors, managers or officers or any immediate family members thereof), on the other hand
            (other than any Target Company or any Target Subsidiaries); and (b) other than Contracts related to their employment with a Target Company or a Target Subsidiary, no officer, director or manager of the Target Companies or Target Subsidiaries,
            no person with whom any such officer, director or manager has any direct or indirect relation by blood, marriage, or adoption, no entity in which any such Person owns any beneficial interest (other than a publicly held corporation whose stock
            is traded on a national securities exchange or in the over-the-counter market and less than five percent of the stock of which is beneficially owned by all such Persons in the aggregate), no Affiliate of any such person has any interest in:&#160;
            (i) any Contract with, or relating to, the Target Companies or Target Subsidiaries or the properties or assets thereof, or any Person that is a customer, supplier, or competitor of the Target Companies or Target Subsidiaries, (ii) any loan,
            arrangement, understanding, agreement, or contract for or relating to the Target Companies or Target Subsidiaries or the properties or assets thereof, or (iii)&#160;any property (real, personal, or mixed), tangible or intangible, used or currently
            intended to be used by the Target Companies or Target Subsidiaries (collectively, the &#8220;<u>Sellers&#8217; Affiliate Contracts</u>&#8221;).</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.24&#160; &#160;&#160;&#160; <u>Undisclosed Payments</u>.&#160; Neither the Target Companies nor the Target Subsidiaries, nor any of their respective directors, officers, managers, employees, or agents, nor, to
            Sellers&#8217; Knowledge, anyone acting on behalf of any of them, has made or received any payment not correctly categorized and fully disclosed in the books and records of the Target Companies or Target Subsidiaries in connection with or in any way
            relating to or affecting the Target Companies or Target Subsidiaries.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.25&#160;&#160;&#160;&#160;&#160;&#160; <u>Significant Customers and Suppliers</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Schedule&#160;5.25(a)</u> sets forth (i) a complete and correct list showing the ten largest customers by gross purchases from the Target Companies and the Target Subsidiaries in
            the aggregate during the 12 months ended December 31, 2019 and the three month period ended March 31, 2020 (collectively, the &#8220;<u>Significant Customers</u>&#8221;), and (ii) a complete and correct list showing the ten largest suppliers by gross sales
            to the Target Companies and the Target Subsidiaries in the aggregate during the 12 months ended December 31, 2019 and the three month period ended March 31, 2020 (the &#8220;<u>Significant Suppliers</u>&#8221;).&#160; Except with respect to resins, additives,
            nonwoven products and adhesive products supplied by Significant Suppliers to a Target Company or Target Subsidiary that are qualified by customers of the Personal Care Business and for which, until re-qualification occurs, there exists no
            qualified substitute, no Significant Supplier is the sole available source of a product it supplies to the Personal Care Business.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except as set forth on <u>Schedule&#160;5.25(b)</u>, during the 12 month period preceding the date of this Agreement, (i) no Significant Customer or Significant Supplier has stopped or
            materially decreased the rate of buying products or services or supplying products or services, as applicable, to or from the Personal Care Business, or terminated its business with a Target Company or any Target Subsidiary outside of the
            ordinary course of business, and (ii) no Seller, and to the Knowledge of Sellers, no Target Company nor any Target Subsidiary, has received any written notice from a Significant Customer or Significant Supplier expressing its intention to take
            any of the actions described in clause (i) of this <u>Section&#160;5.25(b)</u>.&#160; For the avoidance of doubt, changes in quantity due to changes in market conditions and seasonal variations or period-to-period fluctuations in the ordinary course of
            business shall not be deemed to be a material decrease for purposes of this <u>Section&#160;5.25(b)</u>.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">5.26&#160;&#160;&#160;&#160;&#160;&#160; <u>Product Liability</u>.&#160; There are no reasonable pending, or, to the Sellers&#8217; Knowledge, threatened, and, to the Sellers&#8217; Knowledge, there is no basis for, any civil, criminal or
            administrative Actions by or before any Governmental Authority relating to any alleged hazard or alleged defect in design, manufacture, materials or workmanship, including any failure to warn or alleged breach of express or implied warranty or
            representation, relating to any product manufactured, distributed or sold by or on behalf of any Target Company or any Target Subsidiaries within the three year period preceding the date of this Agreement.&#160; No Target Company nor any Target
            Subsidiary has extended to any of its customers any material written, non-uniform product warranties, indemnifications or guarantees that are currently in effect.&#160; Within the three year period preceding the date of this Agreement, each product
            sold or delivered and each service rendered by the Target Companies and the Target Subsidiaries has been in conformity in all material respects with all applicable contractual commitments and all express and implied warranties, and the Target
            Companies and the Target Subsidiaries do not currently have any material liabilities or obligations for replacement or repair thereof or other damages in connection therewith.&#160; To the Sellers&#8217; Knowledge, there is no existing pattern or
            repetition of material customer complaints regarding the performance or services by the Target Companies and the Target Subsidiaries within the three years preceding the date of this Agreement.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.27&#160; &#160; &#160;&#160; <u>Target Companies&#8217; Brokers</u>.&#160; Other than Sellers&#8217; Parent&#8217;s engagement of JP Morgan as its investment banker in connection with the transactions contemplated hereby, there are
            no claims for brokerage fees, costs and expenses, commissions, finders&#8217; fees, costs and expenses, financial advisory fees, costs and expenses or similar compensation in connection with the transactions contemplated by this Agreement based on
            any Contract made by or on behalf of the Target Companies or any Target Subsidiaries.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.28&#160;&#160;&#160;&#160;&#160;&#160; <u>Books and Records</u>.&#160; The books and records of the Target Companies and the Target Subsidiaries are correct and complete in all material respects, reflect actual, bona fide
            transactions and have been maintained in accordance with such Target Company&#8217;s and such Target Subsidiary&#8217;s normal business practices.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.29&#160;&#160;&#160;&#160;&#160; <u>Bank Accounts; Powers of Attorney</u>.&#160; <u>Schedule&#160;5.29</u> sets forth a correct and complete list of (a) all bank accounts and safe deposit boxes of each Target Company and
            each Target Subsidiary and all Persons who are signatories thereunder or who have access thereto and the names of all Persons holding general or special powers of attorney with respect such Target Company or Target Subsidiary related to such
            bank accounts and safe deposit boxes and (b) the grantees of other general or special powers of attorney with respect to each Target Company and each Target Subsidiary and a description of the terms of such powers of attorney.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.30&#160;&#160;&#160;&#160;&#160;&#160; <u>Anti-Corruption; Anti-Money Laundering; Sanctions</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Each of the Target Companies and the Target Subsidiaries, and each of their directors, officers, and employees, and to the Knowledge of the Sellers, any supplier, distributor,
            licensee, agent or any other Person acting on its or their behalf, is in all material respects in compliance with the U.S. Foreign Corrupt Practices Act of 1977, as amended (the &#8220;<u>FCPA</u>&#8221;), any other applicable U.S. or foreign
            anti-corruption or anti-bribery Laws, and all rules and regulations promulgated thereunder.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The operations of the Target Companies and the Target Subsidiaries are and have been conducted at all times since June 1, 2014 in compliance in all material respects with
            applicable financial recordkeeping, reporting and internal control requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions, the rules and regulations thereunder
            and any related or similar rules, regulations or guidelines, issued, administered or enforced by any Governmental Authority (collectively, the &#8220;<u>Money Laundering Laws</u>&#8221;) and of the FCPA. No Action by or before any Governmental Authority
            that is material to the Personal Care Business with respect to the Money Laundering Laws is pending or, to the Knowledge of the Sellers, threatened.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No Target Company nor any Target Subsidiary (nor any Person acting on behalf of any such Target Company or such Target Subsidiary) is currently subject to any material sanctions
            administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury.&#160; No Action by or before any Governmental Authority that is material to any Target Company or any Target Subsidiary with respect to any such sanctions
            is pending or, to the Knowledge of the Sellers, threatened.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.31&#160;&#160;&#160;&#160;&#160;&#160; <u>Political Law</u>.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Neither the Target Companies nor any of the Target Subsidiaries (solely in respect of the Personal Care Business), nor, to the Knowledge of Sellers, any of the employees, owners or
            family members of any of the foregoing, as applicable, have made or solicited any political contributions that would violate any state and local laws restricting or requiring the disclosure of political campaign contributions made by government
            Contracts or individuals and political committees affiliated with government contractors or that would prohibit the Personal Care Business from having received, continuing to receive, or receiving in the future, compensation from any
            Governmental Authority.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Neither the Target Companies nor any the Target Subsidiaries (solely in respect of the Personal Care Business), nor, to the Knowledge of Sellers, any of their respective officers,
            directors, or employees have, during the previous five years, violated any Law governing lobbying registration or reporting with respect to the Personal Care Business, including Laws governing procurement lobbying registration and reporting.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">5.32&#160;&#160;&#160;&#160;&#160;&#160; <u>No Other Representations or Warranties</u>.&#160; Except for the representations and warranties contained in this <u>Article V</u>, no Seller nor any other Person makes any other
            express or implied representation or warranty with respect to or on behalf of the Target Companies or the Target Subsidiaries.&#160; For the avoidance of doubt, no Seller nor any other Person is making any representations and warranties about
            Tredegar Personal Care as of the Closing Date.</div>
          <div>&#160;</div>
          <div>ARTICLE VI<br>
            <br>
            <u>REPRESENTATIONS AND WARRANTIES CONCERNING BUYERS</u></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">Buyer represents and warrants to Sellers as follows concerning Buyers:</div>
          <div>&#160;</div>
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            <div id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">-49-</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 72pt;">6.1&#160;&#160;&#160;&#160; &#160; <u>Buyers&#8217; Corporate Organization</u>.&#160; Each Buyer has been duly organized and is validly existing as a corporation or limited liability company in good standing under the laws of
            its jurisdiction of organization.&#160; Each Buyer has the requisite power and authority to own or lease its properties and to conduct its business as it is now being conducted.&#160; Each Buyer is duly licensed or qualified and in good standing as a
            foreign corporation or limited liability company in all jurisdictions in which it is required to be so licensed or qualified, except where failure to be so licensed or qualified would not reasonably be expected to prevent, materially delay,
            materially impair or otherwise have a material adverse effect on, the ability of such Buyer to enter into this Agreement or consummate the transactions contemplated hereby.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">6.2&#160;&#160;&#160;&#160;&#160; &#160; <u>Due Authorization of Buyers</u>.&#160; Each Buyer has all requisite power and authority to execute and deliver this Agreement and each other agreement contemplated hereby to which
            such Buyer is a party and to consummate the transactions contemplated hereby and thereby.&#160; The execution and delivery by each Buyer of this Agreement and each other agreement contemplated hereby to which such Buyer is a party and the
            consummation of transactions contemplated hereby and thereby have been duly and validly authorized and approved all requisite corporate or limited liability company, as applicable, action, and no other proceeding, consent or authorization on
            the part of any Buyer is necessary to authorize this Agreement or the transactions contemplated hereby.&#160; This Agreement, and the other documents and instruments required hereby to which any Buyer is a party, will be when executed and delivered
            by such Buyer (assuming due authorization, execution and delivery of this Agreement by Sellers) the legal, valid and binding obligation of such Buyer, enforceable against such Buyer in accordance with their terms, subject to the Equity and
            Bankruptcy Exceptions.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">6.3&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Conflict</u>.&#160; The execution and delivery by each Buyer of this Agreement and, assuming that all Buyers&#8217; Approvals have been properly obtained, the consummation of the
            transactions contemplated hereby do not and will not (a) breach, violate or conflict with any Organizational Documents of such Buyer or (b) violate, conflict with or result in a breach of or default under, any provision of, or constitute an
            event that, after notice or lapse of time or both, would result in a violation of, conflict with, breach of or default under any applicable Law or Order binding upon or applicable to such Buyer, in each case where such violation, conflict,
            breach or default would reasonably be expected to have a material adverse effect on such Buyer&#8217;s ability to consummate the transactions contemplated hereby.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">6.4&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Authorization or Consents Required</u>.&#160; No notice to or consent, approval or authorization of, or designation, declaration or filing with, any Governmental Authority or
            other Person is required by any Buyer with respect to such Buyer&#8217;s execution or delivery of this Agreement or any other agreement contemplated hereby to which such Buyer is a party or the consummation of the transactions contemplated hereby or
            thereby, except for those (a) as to which the failure to give or obtain would not be reasonably be expected to have a material adverse effect on such Buyer&#8217;s ability to consummate the transactions contemplated hereby, (b) that have been given
            or obtained prior to the date hereof, or (c) set forth on <u>Schedule&#160;6.4</u> (the &#8220;<u>Buyers&#8217; Approvals</u>&#8221;).</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 72pt;">6.5&#160;&#160;&#160;&#160;&#160;&#160; <u>Financing</u>.&#160; Buyers have and will have at Closing sufficient cash, available lines of credit or other sources of immediately available funds to make payment of all amounts to
            be paid by it hereunder on and after the Closing Date.</div>
          <div>&#160;</div>
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          </div>
          <div style="text-align: left;">
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            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572225"></a><a name="z_Toc48978784"></a>6.6&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Litigation</u>.&#160; There are no Actions before or by any Governmental Authority (and, to the Knowledge of Buyers, no such
              Action has been threatened) against or affecting any Buyer that would reasonably be expected to affect adversely or restrict the ability of any Buyer to enter into and perform its obligations under this Agreement or any other agreement
              contemplated hereby to which such Buyer is a party.&#160; No Buyer is subject to any outstanding Order that prohibits or otherwise restricts in any material respect the ability of such Buyer to consummate fully the transactions contemplated
              hereby.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572226"></a><a name="z_Toc48978785"></a>6.7&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Investment Intent</u>.&#160; Each Buyer is acquiring the applicable Interests for its own account with the present intention
              of holding such securities for investment purposes and not with a view to, or for sale in connection with, any distribution of such securities in violation of any federal or state securities Law.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46829977"></a><a name="z_Toc48978786"></a>6.8&#160;&#160;&#160;&#160;&#160;&#160; <u>Buyers&#8217; Brokers</u>.&#160; Except as set forth on <u>Schedule 6.8</u>, there are no claims for brokerage fees, costs and
              expenses, commissions, finders&#8217; fees, costs and expenses, financial advisory fees, costs and expenses or similar compensation in connection with the transactions contemplated by this Agreement based on any Contract made by Buyers or any of
              their Affiliates.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572227"></a><a name="z_Toc48978787"></a>6.9&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Solvency; No Fraudulent Conveyance</u>.&#160; Immediately following Closing, the Target Companies and the Target
              Subsidiaries will be solvent for all purposes under federal bankruptcy and applicable state fraudulent transfer and fraudulent conveyance Laws, and the transactions contemplated hereby do not constitute fraudulent transfers or fraudulent
              conveyances under such Laws.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46828177"></a><a name="z_Toc48978788"></a>6.10&#160;&#160;&#160;&#160; <u>R&amp;W Policy</u>.&#160; Concurrently with the execution and delivery of this Agreement, Buyers have delivered to Sellers&#8217;
              Representative a duly executed binder agreement (the &#8220;<u>Binder Agreement</u>&#8221;) by and between Buyers and AIG Specialty Insurance Company, an Illinois corporation, with respect to the delivery of an insurance policy with respect to the
              representations and warranties of Sellers under this Agreement (the &#8220;<u>R&amp;W Policy</u>&#8221;) at the Closing, which Binder Agreement shall not be amended in a manner that adversely affects Sellers without the prior written consent of Sellers&#8217;
              Representative (such consent not to be unreasonably withheld, conditioned or delayed); provided, that the parties hereto agree that any version of the R&amp;W Policy and Binder Agreement delivered to Sellers&#8217; Representative shall not include
              Annex A or Annex B referenced therein.&#160; Buyers and its Affiliates shall not amend, waive, or otherwise modify the subrogation provision under the R&amp;W Policy in any manner that would allow the insurer thereunder to subrogate or otherwise
              make or bring any action against the Sellers (other than any claim for Fraud of any Seller). The policy provider of the R&amp;W Policy has agreed that the R&amp;W Policy will expressly provide that the policy provider shall not have the right
              to, and will not, pursue any subrogation rights or contribution rights or any other claims against any Seller or any of the Sellers&#8217; Parties in connection with any claim made by any Buyers&#8217; Indemnified Party thereunder, other than for Fraud,
              and that such provision of the insurance policy may not be amended without the prior written consent of Sellers&#8217; Representative.&#160; Sellers shall pay, cause to be paid or reimburse Buyers for all costs and expenses related to the R&amp;W
              Policy, including the total premium, underwriting costs, brokerage commissions, and other fees and expenses of such policy, provided that such amounts shall be without duplication to those otherwise included in Transaction Expenses.</div>
            <div style="text-align: justify;"> <br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-51-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572228"></a><a name="z_Toc48978789"></a>6.11&#160;&#160;&#160;&#160;&#160;&#160; <u>Other Transactions</u>.&#160; Neither Buyers&#8217; Parent nor any of its Affiliates is bound by a definitive agreement with any
              Person, or is engaged in negotiations with any Person (other than Sellers&#8217; Parent and its Affiliates), to enter into a definitive agreement for an acquisition, by merger, consolidation, purchase of assets or equity or otherwise, the
              consummation of which would reasonably be expected to: <a name="DocXTextRef263"></a>(a) impose any delay in the obtaining of, or increase the risk of not obtaining, any consents of any Governmental Authority necessary to consummate the
              transactions contemplated by this Agreement or the expiration or termination of any applicable waiting period; <a name="DocXTextRef264"></a>(b) increase the risk of any Governmental Authority seeking or entering an order prohibiting the
              consummation of the transactions contemplated by this Agreement; <a name="DocXTextRef265"></a>(c) increase the risk of not being able to remove any such order on appeal or otherwise; or <a name="DocXTextRef266"></a>(d) delay or prevent the
              consummation of the transactions contemplated by this Agreement</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572229"></a><a name="z_Toc48978790"></a>6.12&#160;&#160;&#160;&#160;&#160;&#160; <u>Acknowledgment</u>.&#160; Each Buyer acknowledges that it is a sophisticated purchaser of businesses and has been given
              sufficient access to information with respect to the Target Companies and the Target Subsidiaries.&#160; Buyers have been represented by independent legal counsel in connection with the transactions contemplated by this Agreement, understand the
              assumptions of risk and liability set forth in this Agreement and understand they will not have any recourse whatsoever against the Target Companies or Sellers&#8217; Parties except as expressly set forth in this Agreement.&#160; Buyers hereby
              acknowledge and agree that they have conducted and completed their own investigation, analysis and evaluation of the Target Companies, the Target Subsidiaries and the Interests, that they have made all such reviews and inspections of the
              financial condition, business, results of operations, properties, assets and prospects of the Target Companies and the Target Subsidiaries as they have deemed necessary or appropriate, that they have had the opportunity to request all
              information they have deemed relevant to the foregoing from Sellers and the Target Companies and have received responses they deem adequate and sufficient to all such requests for information, and that in making their decision to enter into
              this Agreement and to consummate the transactions contemplated hereby, they have relied upon their own investigation, analysis and evaluation of the Target Companies and the Target Subsidiaries and the Interests and are not relying in any way
              on any representations and warranties, including any implied warranties, made by or on behalf of the Target Companies, the Target Subsidiaries or Sellers other than the representations and warranties expressly made by Sellers in <u>Articles
                IV</u> and <u>V</u>, nor are they relying on any estimates, projections, forecasts or forward-looking statements made available by or on behalf of Sellers and their Affiliates (including the Target Companies and Target Subsidiaries).&#160;
              Buyers further agree, for themselves and the other Buyers&#8217; Indemnified Parties, that none of the Sellers nor any other Sellers&#8217; Parties nor any other Person will have or be subject to any liability to any Buyers&#8217; Indemnified Party or any
              other Person resulting from the distribution to Buyers or any other Buyers&#8217; Indemnified Party, or any Buyer&#8217;s use of, any such information, including any information, document or material made available to Buyers or any other Buyers&#8217;
              Indemnified Party in certain &#8220;data rooms,&#8221; written or oral responses to due diligence questions and requests, management presentations, the confidential information memorandum, or any other form in expectation of the transactions contemplated
              by this Agreement, including liability related to the completeness or accuracy of any such information.</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-52-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: center;"><a name="z_Toc48978791"></a>ARTICLE VII</div>
            <div>&#160;</div>
            <div style="text-align: center;"><a name="z_Ref47572230"></a><u>COVENANTS</u></div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572231"></a><a name="z_Toc48978792"></a>7.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Conduct of Business of the Target Companies; Notices of Certain Developments</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46828754"></a>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except <a name="DocXTextRef267"></a>(1) as set forth on <u>Schedule 7.1(a)</u>; <a name="DocXTextRef268"></a>(2) as set forth in <u>Exhibit B</u>
              in connection with the Reorganization Completion; <a name="DocXTextRef269"></a>(3) with respect to Non-Continuing Employees; <a name="DocXTextRef270"></a>(4) as provided in this Agreement (including as contemplated by <u>Section 7.1(b)</u>);





              <a name="DocXTextRef271"></a>(5) as may be reasonably necessary to comply with applicable Law or sanctioned response of a Governmental Authority as a result of the outbreak of the novel corona virus (and any resulting COVID-19 or related
              sickness); or (6) as consented to in writing by Buyers&#8217; Parent (which consent will not be unreasonably conditioned, withheld or delayed), from the date hereof until Closing, Sellers shall, and shall cause the Target Companies and the Target
              Subsidiaries, to conduct their respective business substantially in accordance with all applicable Laws in all material respects and in the ordinary course of business, consistent with past practice, except with respect to the activities
              described under the heading &#8220;Non-Ordinary Course Exceptions&#8221; on <u>Schedule 7.1(a)</u>, and not to take any of the following actions:</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572232"></a>(i)&#160;&#160;&#160;&#160;&#160; &#160; &#160;&#160; amend the Organizational Documents of any Target Company or any of the Target Subsidiaries (whether by merger, consolidation or
              otherwise);</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572233"></a>(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; amend any term of, split, combine or reclassify any Capital Stock of any Target Company or any of the Target Subsidiaries (whether
              by merger, consolidation or otherwise);</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572234"></a>(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; redeem, repurchase or otherwise acquire any Capital Stock of any Target Company or any of the Target Subsidiaries (whether by
              merger, consolidation or otherwise);</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572235"></a>(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; deliver, sell, create any interest in or otherwise dispose of any Capital Stock of any Target Company or any of the Target
              Subsidiaries (whether by merger, consolidation or otherwise);</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572236"></a>(v)&#160;&#160; &#160;&#160;&#160;&#160;&#160; cancel or waive any claims or rights of material value other than in the ordinary course of business consistent with past practice;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572237"></a>(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; change any methods of accounting, except in the ordinary course of business consistent with past practice or as may be required by
              Law or changes in GAAP;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572238"></a>(vii)&#160;&#160;&#160;&#160;&#160;&#160; make any new or change any material Tax election, amend any material Tax Return, settle or compromise any administrative or
              judicial proceeding related to Taxes, surrender a claim to a Tax refund or credit or consent to any extension or waiver of a limitation period for the assessment or assertion of any Tax;</div>
            <div style="text-align: justify;"> <br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-53-</font></div>
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            </div>
            <div style="text-align: justify; margin-left: 36pt; text-indent: 108pt;"><a name="z_Ref47572239"></a>(viii)&#160;&#160;&#160;&#160;&#160;&#160; make any capital investment in, or any loan to, or any acquisition of the securities of, any other Person, or acquire all or a
              substantial portion of the assets of any other Person;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572240"></a>(ix)&#160;&#160;&#160; &#160; &#160; except to the extent required by applicable Law, pay or provide to any current or former Target Service Provider any compensation
              or benefit, other than <a name="DocXTextRef272"></a>(A) the continued payment of base compensation, and <a name="DocXTextRef273"></a>(B) the continued provision of existing benefits and compensation arrangements under the Benefit Plans set
              forth on <u>Schedules 5.17(a)(i)</u> and <u>5.17(b)(i)</u>, in each case, in the ordinary course of business consistent with past practice;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572241"></a>(x)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; grant any equity, equity-based, incentive or similar awards or make any increase in the salaries, bonuses or other compensation or
              benefits payable to any current or former Target Service Provider, except in the ordinary course of business, consistent with past practice;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572242"></a>(xi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; terminate any Target Company Plan or amend or modify any Target Company Plan other than as required by its terms or applicable
              Law,</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572243"></a>(xii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; establish, adopt or enter into any benefit or compensation plan, program, policy or arrangement that would be a Target Company
              Plan if it were in existence as of the date hereof;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572244"></a>(xiii)&#160;&#160;&#160;&#160;&#160;&#160; accelerate the time of payment, vesting or funding of any compensation or benefits to any Target Service Provider under any
              Benefit Plan or otherwise;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572245"></a>(xiv)&#160;&#160;&#160;&#160;&#160; hire or engage any employee or other individual service providers or, except in the ordinary course of business, consistent with
              past practice, terminate the employment or engagement of any Target Service Provider, in each case, whose base annual compensation (exclusive of bonus and commission) is in excess of $50,000;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572246"></a>(xv)&#160;&#160;&#160;&#160;&#160;&#160;&#160; enter into, extend, terminate, or modify any collective bargaining agreement or other Contract with any labor union, labor
              organization, works council or other employee representative body, or recognize any labor union or labor organization as the bargaining representative for the employees of any Target Company;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572247"></a>(xvi)&#160;&#160;&#160;&#160;&#160;&#160; implement any employee layoffs that would require notification under the WARN Act; or</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572248"></a>(xvii)&#160;&#160;&#160;&#160;&#160; agree to do any of the foregoing.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46829322"></a>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Prior to Closing, Sellers will terminate, or will cause the termination of, all Sellers&#8217; Affiliate Contracts except as otherwise provided for in the
              Transition Services Agreement or as otherwise agreed to by Buyers&#8217; Parent and Sellers&#8217; Representative.</div>
            <div>&#160;</div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-54-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46829340"></a>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;From the date hereof through Closing, Sellers&#8217; Representative will provide prompt written notice to Buyers&#8217; Parent if and when any of the following
              becomes Known to Sellers:</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572249"></a>(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;a representation and warranty made by Sellers in this Agreement was not true when made;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572250"></a>(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the occurrence of any event or the existence of any circumstance that would be reasonably likely to cause any representation or
              warranty of Sellers contained in this Agreement to be inaccurate at such time; or</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572251"></a>(iii)&#160;&#160;&#160;&#160;&#160;&#160; the occurrence of any other event that would make the satisfaction of the conditions in <u>Article VIII</u> impossible or
              unlikely;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt; font-size: 12pt;"><font style="font-size: 10pt;"><u>provided</u></font><font style="font-size: 10pt;">, <u>however</u>, that a notice given under this <u>Section 7.1(c)</u> will not of
                itself serve to qualify any representation or warranty of Sellers in this Agreement or in any certificate delivered pursuant to this Agreement or update any Schedule delivered by Sellers; <u>provided</u>, <u>further</u>, that Buyers
                acknowledge and agree that Sellers&#8217; Representative&#8217;s provision of any such notice after the date hereof and before Closing will not constitute an admission by Sellers of a breach of any representation or warranty made by them herein, that
                any item disclosed in such notice would have been required to be disclosed on the <a name="DocXTextRef274"></a>Schedules delivered by Sellers as the date hereof if it had been known or had occurred on or prior to the date hereof (including
                whether its value is higher or lower than the values set forth any Schedule or whether it is material or threatened item), or whether such&#160; disclosure is within or outside of the ordinary course of business for purposes of this Agreement.</font></div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572252"></a><a name="z_Toc48978793"></a>7.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Access to Information</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572253"></a>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; From the date of this Agreement until the earlier of Closing or the termination of this Agreement in accordance with its terms, Sellers shall cause
              each of the Target Companies and each of the Target Subsidiaries to give Buyers and their professional advisors reasonable access during normal business hours and upon reasonable prior notice to all of the properties, contracts and
              agreements, books and records of each of the Target Companies and each of the Target Subsidiaries and shall promptly deliver or make available to Buyers information concerning the business, properties and assets of each of the Target
              Companies and each of the Target Subsidiaries as Buyers may from time to time reasonably request subject to applicable Laws, including Competition Laws and federal or state securities Laws.&#160; All information related to such access shall be
              treated as confidential information pursuant to the terms of the Confidentiality Agreement.&#160; From the date of this Agreement until the earlier of Closing or the termination of this Agreement in accordance with its terms, Buyers hereby agree
              that they are not authorized to and shall not (and shall not permit any of their employees, agents, representatives or Affiliates to) contact any employee, customer, supplier, distributor or other material business relation of any Target
              Company or any Target Subsidiary regarding their business or the transactions contemplated by this Agreement without Sellers&#8217; Representative providing its prior written (including by e-mail) consent to Buyers&#8217; Parent.</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-55-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46827793"></a>(b)&#160;&#160;&#160;&#160;&#160;&#160; As soon as reasonably possible after the date hereof, following Sellers&#8217; Parent&#8217;s announcement to its and its Subsidiaries&#8217; employees of the occurrence
              of the execution of this Agreement, and ultimately within 5 Business Days, Sellers&#8217; Representative shall, or shall procure that Tredegar Netherlands shall, submit a request for advice to the Dutch Works Council for Tredegar Netherlands (the &#8220;<u>Works





                Council</u>&#8221;) with respect to Buyers&#8217; Parent&#8217;s anticipated post-Closing transfer of the ownership of the Capital Stock of Tredegar Netherlands from TFP to Fitesa China Holdings B.V., a Dutch private limited company whose corporate seat is
              at Amsterdam, the Netherlands and with trade register number 14634263, and an Affiliate of Buyers&#8217; Parent (the &#8220;<u>Post-Closing Transfer</u>&#8221;).&#160; The Buyers&#8217; Parent has prepared a draft request for advice and provided Sellers&#8217; Representative
              with the opportunity to provide any reasonable comments on the contents thereof, thereby taking into account that the request for advice relates to a post-Closing matter before submission of the request for advice to the Works Council.&#160; A
              copy of the request for advice, as submitted to the Works Council, shall be sent to the Buyers&#8217; Parent.&#160; On a date as agreed between Sellers&#8217; Representative and the Buyers&#8217; Parent, occurring as soon as reasonably practicable after submitting
              the request for advice, the Buyers&#8217; Parent and their respective representatives, including at least one Dutch speaking representative of Buyers&#8217; Parent, will set up a consultation meeting (<font style="font-style: italic;">overlegvergadering</font>)
              via video meeting or teleconference with the Works Council&#160; to discuss the request for advice on the Post-Closing Transfer.&#160; Sellers&#8217; Representative will, and will cause its Affiliates, to use commercially reasonable efforts to cooperate with
              Buyers&#8217; Parent and its Affiliates in seeking to obtain Works Council unconditional positive advisement on the Post-Closing Transfer.&#160; Sellers&#8217; Representative shall inform the Buyers&#8217; Parent of any developments and issues and any request,
              commitment or condition raised by the Works Council and shall not, and will cause its Affiliates to not, communicate (whether or not in writing or orally) with the Works Council in relation to the Post-Closing Transfer without prior written
              approval of the Buyers&#8217; Parent. Sellers&#8217; Representative shall provide the Buyers&#8217; Parent with copies of any written documentation exchanged with the Works Council in relation to the Post-Closing Transfer.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46829405"></a>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Following Closing, Buyers (including, for the purpose of this <u>Section 7.2(b)</u>, the Target Companies and the Target Subsidiaries after Closing)
              shall provide Sellers and their professional advisors with reasonable access to the books and records of the Target Companies and the Target Subsidiaries and cooperate with and provide support to, as applicable, if reasonably required by any
              Seller and/or its Affiliates in connection with <a name="DocXTextRef275"></a>(i) any litigation, investigation, tax audit, discovery or similar proceeding, (ii) the preparation of Tax Returns, and (iii) the preparation of Sellers&#8217; Parent&#8217;s
              financial statements or of filings required to be made by Sellers&#8217; Parent to satisfy its obligations under applicable Law with respect to the securities exchange on which Sellers&#8217; Parent securities are traded, in each case, in accordance with
              Sellers&#8217; Parent&#8217;s internal reporting timelines.&#160; If any Seller shall request the assistance (including testimony) of employees of any Target Company or any Target Subsidiary in connection with any litigation, investigation, tax audit,
              discovery, or similar proceeding or claim, or with the preparation of Sellers&#8217; Parent&#8217;s financial statements or securities filings as contemplated by this <u>Section 7.2(b)</u>, the applicable Buyer shall make such employees available for a
              reasonable period of time.</div>
            <div><br>
            </div>
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              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-56-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46829457"></a><a name="z_Toc48978794"></a>7.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Public Announcements</u>.&#160; No party hereto will issue or cause the publication of any press release or other public
              announcement with respect to this Agreement or the transactions contemplated hereby without the prior written consent of the other parties hereto, except that this <u>Section 7.3</u> will not prohibit any party from issuing or causing
              publication of any such press release or public announcement to the extent that such disclosure is required by Law (including any rule of any securities exchange on which a party&#8217;s securities are traded) or Order to which a party is bound or
              subject, upon advice of counsel, in which case the party making such determination will, if practicable under the circumstances, use commercially reasonable efforts to allow the other parties a reasonable period of time to comment on such
              release or announcement in advance of its issuance or publication.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46829469"></a><a name="z_Toc48978795"></a>7.4&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Filings and Authorizations; Consummation</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46827691"></a>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each party hereto shall use commercially reasonable efforts, and shall cooperate with the other parties to this Agreement, to obtain as promptly as
              practicable any and all authorizations, approvals, orders, consents, licenses, waivers, no action acknowledgments, certificates, permits, registrations, qualifications or other rights and privileges of any Governmental Authority or third
              party (collectively, &#8220;<u>Consents</u>&#8221;) necessary or advisable for the performance of its obligations under, or the consummation of the transactions contemplated by, this Agreement, including Sellers&#8217; Approvals, the Target Companies Approvals
              and Buyers&#8217; Approvals.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572254"></a>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each party hereto agrees that it shall consult with the other parties to this Agreement with respect to the obtaining of all material Consents
              necessary or advisable for the performance of its obligations under, or the consummation of the transactions contemplated by, this Agreement, including providing copies of all filings made and other documents exchanged in connection with
              obtaining such Consents to the extent permitted by applicable Law, and each party shall keep the other parties to this Agreement apprised of the status of material matters relating to the performance of its obligations under, or the
              consummation of the transactions contemplated by, this Agreement.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572255"></a>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Each party hereto agrees, upon the written request of any other party to this Agreement, to furnish such other party with all information concerning
              itself or such other matters as may be reasonably necessary or advisable in connection with any filing, notice or application made by or on behalf of such other party to any Governmental Authority to the extent permitted by applicable Law.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572256"></a>(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Subject to the terms and conditions set forth in this Agreement, without limiting the generality of the undertakings pursuant to this <u>Section 7.4</u>:</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref46827225"></a>(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Sellers and Buyers <a name="DocXTextRef277"></a>(A) shall cooperate, and use their respective commercially reasonable efforts to
              take, or cause to be taken, all action, and to do, or cause to be done, all things necessary under applicable Laws to consummate the transactions contemplated by this Agreement, but in any event will make the filings required by <u>Annex
                8.5(h)</u> with the applicable Governmental Authorities no later than September 11, 2020 and will promptly make all other filings and obtaining all licenses, permits, consents, approvals, authorizations, qualifications and Orders of
              Governmental Authorities and other third parties necessary to consummate the transactions contemplated by this Agreement, and <a name="DocXTextRef278"></a>(B) agree to provide to each and every Governmental Authority with jurisdiction over
              enforcement of any applicable antitrust or Competition Law (&#8220;<u>Antitrust Governmental Authority</u>&#8221;), as promptly as reasonably practicable and in any event within the applicable legal time periods, any information and documents requested
              by any Antitrust Governmental Authority that are legally required to be provided or otherwise reasonably necessary, proper or advisable to permit consummation of the transactions contemplated hereby;</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-57-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572257"></a>(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Buyers agree to use best efforts, as promptly as reasonably practicable, to take, or cause to be taken, in the event that any
              permanent, preliminary or temporary injunction, decision, order, judgment, determination or decree is entered or issued, or becomes reasonably foreseeable to be entered or issued, in any proceeding or inquiry of any kind that would make
              consummation of the transactions contemplated by this Agreement in accordance with the terms of this Agreement unlawful or that would delay, restrain, prevent, enjoin or otherwise prohibit consummation of the transactions contemplated by this
              Agreement, any and all steps reasonably necessary, proper or advisable to resist, vacate, modify, reverse, suspend, prevent, eliminate or remove such actual, anticipated or threatened injunction, decision, order, judgment, determination or
              decree so as to permit such consummation on a schedule as close as possible to that contemplated by this Agreement;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref46830773"></a>(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Buyers, on the one hand, and Sellers, on the other hand, will bear their respective <a name="DocXTextRef279"></a>(A) filing fees
              imposed under applicable Competition Laws, and <a name="DocXTextRef280"></a>(B) attorneys&#8217; fees in connection with the preparation of any such filings.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46829504"></a><a name="z_Toc48978796"></a>7.5&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Further Assurances; Wrong Pocket</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572258"></a>(a)&#160;&#160;&#160;&#160; &#160; &#160; From the date hereof, and provided Closing occurs, then from and after Closing, each of the parties hereto shall execute such documents and perform
              such further acts as may be reasonably required to carry out the provisions hereof and of this Agreement and the transactions contemplated hereby.&#160; Each party shall, on or prior to the Closing Date, use its commercially reasonable efforts to
              fulfill or obtain the fulfillment of the conditions precedent to the consummation of the transactions contemplated hereby, including the execution and delivery of any documents, certificates, instruments or other papers that are reasonably
              required for the consummation of the transactions contemplated hereby.&#160; Without limiting the generality of the foregoing, <a name="DocXTextRef281"></a>(i) Fitesa Brazil shall within five Business Days of the Closing Date, submit for
              registration with JUCESP the Brazil Transfer Document and shall take as promptly as possible all measures necessary to replace the name of the applicable Sellers and their attorneys-in-fact, as well as those of any resigning executive officer
              of Tredegar Brasil, from all registries, rolls and similar records maintained by Governmental Authorities, financial institutions, credit bureau and credit protection services, and (ii) Tredegar Netherlands shall no later than eight days
              after the Closing Date register the replacement of the members of its Board of Directors as of immediately prior to the Closing Date with the members of its Board of Directors on and after the Closing Date with the applicable Dutch Trade
              Register and provide to Sellers&#8217; Representative evidence of the foregoing reasonably satisfactory to Sellers&#8217; Representative.</div>
            <div><br>
            </div>
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              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-58-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572259"></a>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Following Closing:</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref46827056"></a>(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To the extent that Sellers&#8217; Parent or any of its Subsidiaries, on the one hand, or any Buyer, any Target Company or any Target
              Subsidiary, on the other hand, becomes aware that a Target Company or any Target Subsidiary holds title to or other interest in any Tredegar Retained Business Assets, then Sellers&#8217; Representative or Buyers&#8217; Parent, as applicable, shall
              provide prompt notice to the other, and the parties hereto shall cooperate in good faith to cause the prompt transfer of such Tredegar Retained Business Assets to, and the assumption of any liabilities related to such Tredegar Retained
              Business Assets by, Sellers&#8217; Parent or its applicable Subsidiary promptly after receipt of such notice without the payment of any further consideration therefor.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572260"></a>(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; To the extent that Sellers&#8217; Parent or any of its Subsidiaries, on the one hand, or any Buyer, any Target Company or any Target
              Subsidiary, on the other hand, becomes aware that Sellers&#8217; Parent or any of its Subsidiaries holds title to or other interest in any Personal Care Business Assets, then Sellers&#8217; Representative or Buyers&#8217; Parent, as applicable, shall provide
              prompt notice to the other, and the parties hereto shall cooperate in good faith to cause the prompt transfer of such Personal Care Business Assets to, and the assumption of any liabilities related to such Personal Care Business Assets by,
              the applicable Target Company or Target Subsidiary promptly after receipt of such notice without the payment of any further consideration therefor.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572261"></a>(iii)&#160;&#160;&#160;&#160;&#160;&#160; If at any time there exist (A) assets that any party discovers were, contrary to the agreements among the parties, by mistake or
              unintentional omission, transferred to Buyers or retained by Sellers or any of their respective Affiliates or (B) liabilities that any party hereto discovers were, contrary to the agreements among the parties, by mistake or unintentional
              omission, assumed by Buyers or any of its Affiliates, then the parties shall cooperate in good faith to effect the transfer or retransfer of such misallocated assets, and/or the reassumption of misallocated liabilities, to or by the
              appropriate Person as promptly as practicable and without the payment of any further consideration therefor, and shall not use the determination that remedial actions need to be taken to alter the original intent of the parties with respect
              to the assets to be transferred to Buyers or liabilities to be retained by Sellers or any of their respective Affiliates.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Sellers and Buyers agree that at all times from and after the Closing, if an Action is commenced by a third party naming both parties (or any Affiliate of
              such party) as defendants and with respect to which a named party (or any Affiliate of such party) is a nominal defendant and/or such Action is otherwise not a liability allocated to such named party under this Agreement, then the other party
              shall reasonably cooperate with such nominal defendant in such nominal defendant&#8217;s efforts to be removed from such Action.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572262"></a>(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each party hereto shall cooperate with each other party hereto, including assisting with obtaining any necessary consents or
              authorizations, and using commercially reasonable efforts to cause such contract and/or asset or otherwise to be transferred and shall set up procedures and notifications as are reasonably necessary or advisable to effectuate the transfers
              contemplated by this <u>Section 7.5</u>.</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-59-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47973588"></a>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Buyers acknowledge and agree that the Shared Bank Account (as defined in the Transition Services Agreement) is currently the designated bank account
              into which customers and other Persons remit payments to TFP and Surface Protection and that payments that are made into the Shared Bank Account under invoices issued for Surface Protection products prior to Closing and otherwise are the
              property of Surface Protection (each, a &#8220;<u>Surface Protection Payment</u>&#8221;).&#160; Buyers&#8217; Parent will cause TFP to hold all Surface Protection Payments in trust and for the benefit of Surface Protection and shall cause TFP to remit such payments
              to Surface Protection in accordance with the terms and provisions of the Transition Services Agreement.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572263"></a><a name="z_Toc48978797"></a>7.6&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Employee Matters</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572264"></a>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Prior to the Effective Time, Sellers shall <a name="DocXTextRef282"></a>(i) transfer to the appropriate Target Company or Target Subsidiary each U.S.
              employee of the Personal Care Business who is a Continuing Employee and is employed by a Subsidiary of Sellers&#8217; Parent other than a Target Company or Target Subsidiary, and (ii) transfer to the appropriate Subsidiary of Sellers&#8217; Parent that
              is not a Target Company or Target Subsidiary each U.S. employee of the Tredegar Retained Business who is not a Continuing Employee and is employed by a Target Company or a Target Subsidiary (each such employee under this clause (ii), an &#8220;<u>Outbound





                Wrong Pocket Employee</u>&#8221;).&#160; Sellers shall indemnify and hold harmless Buyer and its Affiliates from and against any and all liabilities arising out of or otherwise related to any Outbound Wrong Pocket Employee.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; The applicable Buyer agrees to give, and to cause its applicable Affiliates to give, to Continuing Employees, for purposes of determining eligibility to participate in and vesting
              under the employee benefit plans maintained by Buyers or their Affiliates and in which such employees participate after the Closing Date, credit for such employees&#8217; service before the Closing Date with such Target Company or its applicable
              Subsidiary, to the same extent recognized by such Target Company or its applicable Subsidiary under the applicable U.S. Benefit Plan or Foreign Benefit Plan prior to Closing.&#160; Such crediting of service shall not be taken into account to the
              extent it would result in the duplication of benefits to any Continuing Employee.&#160; Following the Closing Date, Buyer shall, or shall cause the Target Companies or Target Subsidiaries to, cause each Continuing Employee to be eligible to
              receive under the applicable employee benefit plans of the applicable Buyer or its Affiliates such periods of vacation leave, sick leave, personal days, holidays and other similar periods of leave as were accrued with respect to such
              Continuing Employee immediately prior to Closing, but only to the extent reflected in the Net Working Capital Adjustment.&#160; Such crediting of service shall not be taken into account to the extent it would result in the duplication of benefits
              to any Continuing Employee.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46827244"></a>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160; With respect to any welfare benefit plans maintained by Buyers or their Affiliates on and after the Closing Date, Buyers shall use commercially
              reasonable efforts to <a name="DocXTextRef283"></a>(i) make the Continuing Employees immediately eligible for such plans, (ii) waive or cause the applicable insurance carriers to waive, all limitations as to preexisting conditions,
              exclusions and waiting periods with respect to participation and coverage requirements applicable to such Continuing Employees (and their covered dependents) but, unless otherwise required by applicable Law, only to the same extent such
              conditions, exclusions and periods were satisfied or did not apply to such Continuing Employees (or their covered dependents) prior to the Closing Date; and (iii) give effect, or use commercially reasonable efforts to cause the applicable
              insurance carriers to give effect, in determining any deductible and maximum out-of-pocket limitations, to amounts paid by such Continuing Employees for the plan year in which the Closing Date occurs with respect to similar plans maintained
              by Seller and its Affiliates for the benefit of the Continuing Employees prior to the Closing Date.</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-60-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47570041"></a>(d)&#160;&#160;&#160;&#160; &#160; &#160; The applicable Buyer or one of its Affiliates shall (i) establish or designate a defined contribution plan that is intended to be qualified under <a name="DocXTextRef294"></a>Section 401(a) of the Code (&#8220;<u>Buyers&#8217; </u><a name="DocXTextRef284"></a><u>401(k) Plan</u>&#8221;) that will accept rollovers of Continuing Employees&#8217; &#8220;eligible rollover distributions&#8221; (as defined in Section 402(c)(4)
              of the Code) (but for the avoidance of doubt, not including rollovers of outstanding plan loans) from any U.S. Benefit Plan that is a defined contribution plan intended to be qualified under <a name="DocXTextRef295"></a>Section 401(a) of the
              Code (&#8220;<u>Sellers&#8217; </u><a name="DocXTextRef286"></a><u>401(k) Plan</u>&#8221;), and (ii) use commercially reasonable efforts to allow any such Continuing Employees&#8217; outstanding plan loans under Sellers&#8217; <a name="DocXTextRef288"></a>401(k) Plan to
              be rolled into Buyers&#8217; <a name="DocXTextRef289"></a>401(k) Plan to the extent any such plan loan is not in default prior to the Effective Time.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref48913571"></a>(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Prior to the Effective Time, Sellers shall, (i) with respect to the Sellers&#8217; 401(k) Plan, make all contributions owed to Continuing Employees under
              such plan through the Effective Time and vest Continuing Employees with respect to their benefits thereunder, and (ii) with respect to the Savings Plan Benefit Restoration Plan for the Employees of Tredegar Corporation (&#8220;<u>Restoration Plan</u>&#8221;),





              credit all account balances of Continuing Employees under such plan with credits earned through the Effective Time and vest Continuing Employees with respect to their benefits thereunder.&#160; Notwithstanding the foregoing, Sellers shall not be
              required to accelerate the timing of any contributions to Sellers&#8217; 401(k) Plan or credits under the Restoration Plan, but shall make contributions owed to Continuing Employees under Sellers&#8217; 401(k) Plan and credits owed to Continuing
              Employees under the Restoration Plan, in accordance with the terms of Sellers&#8217; 401(k) Plan and the Restoration Plan, respectively.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572266"></a>(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160; From and after the Closing Date, subject to applicable Law, <a name="DocXTextRef296"></a>(i) Buyers or their Affiliates (including the Target
              Companies and Target Subsidiaries) shall retain any right it would otherwise have had to amend, modify, substitute or terminate, and nothing in this Agreement shall prohibit Buyers or any of their Affiliates from amending, modifying,
              substituting or terminating, any or all compensation or benefit plans, programs, policies, practices, agreements and arrangements sponsored or maintained by Buyers or any of their Affiliates (including, for the avoidance of doubt, the Target
              Companies and Target Subsidiaries), including each U.S. Benefit Plan and each Foreign Benefit Plan, and (ii) nothing in this Agreement shall require Buyers or any of their Affiliates (including each Target Company and each Target Subsidiary)
              to continue any particular compensation or benefit plan, program, policy, practice, agreement or arrangement.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572267"></a>(g)&#160;&#160;&#160;&#160;&#160; &#160; Sellers shall permit Continuing Employees to remain eligible to participate in the Tredegar Pension Plan and the Tredegar Post-Retirement Medical and
              Life Insurance Plan after the Closing Date for the purpose of receiving credit for service with Buyers and their Affiliates towards eligibility for early retirement benefits and retiree medical benefits, respectively.&#160; Sellers shall credit
              such Continuing Employees under such plans for their service after the Closing Date with Buyers and their Affiliates to the same extent they would have received such credit if they had remained employed by Sellers following the Closing Date.</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-61-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: justify; text-indent: 108pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Nothing in this Agreement shall <a name="DocXTextRef297"></a>(i) be treated as an amendment, modification or creation of any employee benefit plan, program, policy, practice,
              agreement or arrangement, including of any U.S. Benefit Plan or of any Foreign Benefit Plan, (ii) create any right or benefit in any Person other than the signatories of this Agreement, (iii) guarantee employment of any employee for any
              period of time after the Closing Date or preclude the ability of Buyers or any of their Affiliates to terminate the employment of any employee, or (iv) create a binding employment agreement with any employee.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46827869"></a><a name="z_Ref46827809"></a><a name="z_Ref46829676"></a><a name="z_Ref46829687"></a><a name="z_Ref46830805"></a><a name="z_Toc48978798"></a>7.7&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Indemnification





                of Directors and Officers</u>.&#160; All rights to indemnification existing in favor of those Persons who are managers, directors or officers of the Target Companies and Target Subsidiaries as of the date of this Agreement for their acts and
              omissions occurring prior to Closing, as provided in such Target Company&#8217;s or such Target Subsidiary&#8217;s Organizational Documents (as in effect as of the date of this Agreement), shall survive Closing and shall be observed by each such Target
              Company, each such Target Subsidiary and Buyers in accordance with their respective terms.&#160; On or prior to Closing, Sellers will, or will cause the Target Companies to, obtain for the benefit of each Person who is now, has been at any time
              prior to the Closing Date, or who becomes prior to the Closing Date a director, manager, officer, shareholder, member or partner of the Target Companies or any Target Subsidiaries (collectively, the &#8220;<u>Indemnified Persons</u>&#8221;) a prepaid
              &#8220;tail&#8221; directors and officers insurance policy (the &#8220;<u>Tail Policy</u>&#8221;), that <a name="DocXTextRef298"></a>(a) provides directors&#8217; and officers&#8217; liability insurance to the Indemnified Persons on substantially the same terms and conditions
              as the directors&#8217; and officers&#8217; liability insurance policy currently in place by or on behalf of the Target Company for the benefit of such Indemnified Persons, including coverage with respect to any fees, costs or expenses (including
              reasonable attorneys&#8217; fees and disbursements), judgments, fines, losses, claims, damages, suits, proceedings or investigations, whether civil, criminal, administrative or investigative, arising out of or related to such Indemnified Person&#8217;s
              service as a director, manager, officer, shareholder, member or partner of the Target Companies or Target Subsidiaries, or services performed by such Indemnified Person at the request of the Target Companies or Target Subsidiaries, in each
              case occurring on or prior to the Closing Date, whether asserted or claimed prior to, at or after the Closing Date, <a name="DocXTextRef299"></a>(b) has a one-time premium not to exceed three hundred percent (300%) of the current annual
              premium for the existing policy referred to in clause (a) of this <u>Section 7.7</u>, and <a name="DocXTextRef300"></a>(c) covers a period of time ending no earlier than the sixth anniversary of the Closing Date.&#160; If any Buyer, any Target
              Company or any Target Subsidiary or any of its successors or assigns <a name="DocXTextRef301"></a>(x) consolidates with or merges with or into any other Person and shall not be the continuing or surviving corporation, partnership or other
              entity of such consolidation or merger or <a name="DocXTextRef302"></a>(y) transfers or conveys all or substantially all of its properties and assets to any Person, then, and in each such case, proper provision shall be made so that the
              successors and assigns of such entity assumes the obligations set forth herein.&#160; The provisions of this <u>Section 7.7</u> shall not be terminated or modified in such a manner as to adversely affect any indemnitee to whom this provision
              applies without the consent of such affected indemnitee and are intended to be for the benefit of, and will be enforceable by, each indemnified party, his or her heirs and his or her legal representatives.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572268"></a><a name="z_Toc48978799"></a>7.8&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Exclusive Dealing</u>.&#160; From the date of this Agreement until the earlier of the termination of this Agreement and the
              Closing Date, Sellers shall not, and shall cause the Target Companies and Target Subsidiaries not to, and shall not permit any of their respective representatives, officers, directors, equity holders or Affiliates to, directly or indirectly,
              solicit, initiate, knowingly encourage, conduct or continue negotiations with any other Person concerning any merger, recapitalization, sale or disposition of a material portion of the Target Companies&#8217; consolidated assets or Capital Stock
              (other than ordinary course transactions).</div>
            <div><br>
            </div>
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            </div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572269"></a><a name="z_Toc48978800"></a>7.9&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Sellers&#8217; Non-Compete</u>.&#160; Each Seller hereby agrees, on its behalf and on behalf of its Affiliates, that, for a period
              of three years following the Closing Date, it shall not engage, directly or indirectly, either as an owner, equity holder (other than as an equity holder of fewer than two percent of the issued and outstanding shares of a publicly traded
              company), employee, consultant or otherwise, within any jurisdiction in which the Target Companies and Target Subsidiaries conduct the Restricted Business as of the Effective Time in any business activity or enterprise that would compete in
              any way with the Restricted Business as of the Closing Date.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572270"></a><a name="z_Toc48978801"></a>7.10&#160;&#160;&#160;&#160;&#160;&#160; <u>Buyers&#8217; Non-Compete</u>.&#160; Each Buyer hereby agrees, on its behalf and on behalf of its Affiliates (including the Target
              Companies and the Target Subsidiaries), that, for a period of three years following the Closing Date, it shall not, and shall cause its Affiliates not to, engage directly or indirectly, in any business activity or enterprise that would
              compete in any way with the business conducted by Sellers&#8217; Parent and its Affiliates at their Pottsville, Pennsylvania facility in connection with the monolayer cast film and blown film packaging lines and associated assets therein and the
              business and operations associated therewith.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46828933"></a><a name="z_Ref46828945"></a><a name="z_Toc48978802"></a>7.11&#160;&#160;&#160;&#160;&#160;&#160; <u>Use of &#8220;Tredegar&#8221; Name</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572271"></a>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Buyers covenant and agree that as promptly as practicable but in no event later than six months from Closing (the &#8220;<u>Phaseout Period</u>&#8221;), they
              shall take all reasonable action to cause the Target Companies and Target Subsidiaries to <a name="DocXTextRef303"></a>(i) change their names to a name that does not include &#8220;Tredegar&#8221; or any derivation thereof (the &#8220;<u>Retained Names</u>&#8221;),
              including amending their Organizational Documents to reflect such name change, and (ii) cease using the name &#8220;Tredegar&#8221; or any derivations thereof, including on or in, as applicable, any websites, stationary, domain names, marketing material
              or otherwise; <u>provided</u>, <u>however</u>, that Buyers <a name="DocXTextRef304"></a>(a) shall not be obligated to remove or otherwise obliterate the Retained Names prior to the end of the Phaseout Period <a name="DocXTextRef305"></a>(i)





              with respect to displays of the Retained Names on equipment that cannot be seen by the public without unlawful entry on the applicable location of such equipment if it is commercially unreasonable to remove or otherwise obliterate such
              Retained Names or (ii) from all books and records (other than stationary, promotional materials, advertising or other public or customer facing books and records) and all archived materials, technical drawings, invoices and manuals; <a name="DocXTextRef306"></a>(b) shall have the right to use packaging, labeling, containers, supplies, advertising materials, technical data sheets and any similar materials that have been produced prior to the Closing Date and bearing the
              Retained Names until the earlier of <a name="DocXTextRef307"></a>(x) the expiration of the Phaseout Period and <a name="DocXTextRef308"></a>(y) the date existing stocks are exhausted, in each case solely to the extent permitted by
              applicable Law; and <a name="DocXTextRef309"></a>(c) shall have the right to use the Retained Names in connection with the transition of email services during the Phaseout Period.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572272"></a>(b)&#160;&#160;&#160;&#160; &#160; &#160; No later than 24 months following the Closing Date, Buyers further covenant and agree to, or to cause the Target Companies or Target Subsidiaries to,
              <a name="DocXTextRef310"></a>(i) request all relevant Governmental Authorities and domain name registrars to update their respective ownership records to identify the current legal owner of the Registered IP and (ii) submit the necessary
              documents to accomplish such request.</div>
            <div><br>
            </div>
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              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-63-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572273"></a>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Buyers acknowledge and agree that no Seller is transferring to Buyers (or any Affiliate of Buyers), and Sellers reserve all right, title and interest
              in and to, the &#8220;Tredegar&#8221; name and any goodwill related thereto.&#160; From and after Closing, no Buyer nor any Affiliate of Buyers shall use the name &#8220;Tredegar&#8221; or any confusingly similar name in any manner whatsoever.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572274"></a><a name="z_Toc48978803"></a>7.12&#160;&#160;&#160;&#160;&#160; <u>Plant Closing and Mass Layoffs</u>.&#160; Sellers&#8217; Representative shall deliver to Buyers&#8217; Parent no later than three Business
              Days prior to the Closing Date a list, by name, job title, date and work location, of each employee of the Target Companies and Target Subsidiaries based in the United States whose employment was terminated by a Target Company or Target
              Subsidiary within the 90 day period immediately preceding the Closing Date.&#160; Buyers&#8217; Parent shall indemnify and hold harmless Sellers from and against any and all damages arising out of or otherwise in respect of any suit or claim of
              violation brought against Sellers or any of their Affiliates by any such former employees of the Target Companies and Target Subsidiaries under the WARN Act or any other displaced worker notification Law for any actions or inactions taken
              within the 90 days immediately following the Closing Date by Buyers, the Target Companies or any Target Subsidiaries (or their respective Affiliates) with respect to any facility, site of employment or operating unit of such employees based
              in the United States.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46829698"></a><a name="z_Toc48978804"></a>7.13&#160;&#160;&#160;&#160;&#160; <u>Buyers&#8217; Non-Use of Confidential Information</u>.&#160; Buyers acknowledge that certain Continuing Employees are in possession
              of Tredegar Retained Business CI as a result of their employment with Sellers&#8217; Parent or one of its Subsidiaries (including a Target Company or a Target Subsidiary) prior to Closing.&#160; Buyers acknowledge and agree that they are not purchasing
              hereunder any Tredegar Retained Business Assets, including the Tredegar Retained Business CI, and that it would be unfair to, or to encourage or otherwise cause any such Continuing Employee or Affiliate to, divulge or use any Tredegar
              Retained Business CI after the Closing Date in any manner whatsoever, and that Buyers&#8217; agreement, on their own behalf on and behalf of their Affiliates and the Continuing Employees, not to use or divulge such Tredegar Retained Business CI
              from and after Closing is a condition precedent to Sellers agreeing to enter into this Agreement and consummate the transactions contemplated hereby.&#160; Therefore, Buyers agree that from and after Closing, they will not, and will cause their
              Affiliates and Continuing Employees not to, divulge or use any Tredegar Retained Business CI in any manner whatsoever; <u>provided</u>, <u>however</u>, that the covenants contained in this <u>Section 7.13</u> shall not apply to the
              following:&#160; <a name="DocXTextRef311"></a>(a) information that is already in the public domain or generally available to Persons in the same or similar industries as the Personal Care Business; <a name="DocXTextRef312"></a>(b) information
              that becomes part of the public domain or generally available to companies in the same or similar industries as the Personal Care Business by publication or otherwise other than through any action on the part of Buyer, its Affiliates or the
              Continuing Employees; or <a name="DocXTextRef313"></a>(c) information that Buyers, their Affiliates or the Continuing Employees are legally compelled to disclose, but only as to the disclosure that it is so compelled.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Toc48978805"></a><a name="z_Ref47572275"></a>7.14&#160;&#160;&#160;&#160;&#160;&#160; <u>Intellectual Property License</u>.&#160; Effective as of the Closing, each Seller, on behalf of itself and its Affiliates,
              hereby grants to Buyers a transferable, nonexclusive, sublicenseable, paid-up, royalty-free, worldwide, irrevocable and perpetual right and license to use all Intellectual Property owned by any Seller or any of its Affiliates (other than the
              Target Companies and Target Subsidiaries) that is used in the Personal Care Business as of the Closing solely to the extent necessary to conduct the Personal Care Business as it is conducted as of the date of this Agreement except for the
              following categories of Intellectual Property:&#160; (a) Intellectual Property that is covered by the Transition Services Agreement, (b) Intellectual Property that is exclusively related to the Tredegar Retained Business, and (c) trademarks,
              service marks, trademark and service mark registrations and registration applications, trade dress, trade names, taglines, brand names, logos and corporate names and all goodwill related thereto except as and to the extent provided under <u>Section






                7.11</u>.</div>
            <div><br>
            </div>
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              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-64-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Toc48978806"></a>7.15&#160;&#160;&#160;&#160;&#160;&#160; <u>Contact with Customers and Suppliers</u>.&#160; Prior to Closing, Sellers shall cooperate with Buyers in a commercially reasonable manner to facilitate
              communications or calls with certain of those Significant Customers and Significant Suppliers that are set forth under the heading &#8220;As of March 31, 2020&#8221; on <u>Schedule 5.25(a)</u>, the list of such Significant Customers and Significant
              Suppliers to be agreed to by Sellers&#8217; Parent and Buyers&#8217; Parent within ten days following the date hereof; <u>provided</u>, <u>however</u>, that prior to Closing, Sellers shall continue to make unilateral and independent decisions regarding
              their dealings with their, the Target Companies&#8217; and the Target Subsidiaries&#8217; customers and suppliers, and Sellers shall not participate in any joint negotiations with Buyers with any current or prospective customers or suppliers of the
              Personal Care Business.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref48870807"></a><a name="z_Ref48871781"></a><a name="z_Toc48978807"></a>7.16&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Tredegar Hungary Matters.</u></div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref48872239"></a>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Sellers&#8217; Parent agrees to reimburse Tredegar Hungary for (i) all costs and expenses incurred and paid by Tredegar Hungary after Closing in connection
              with completing the Retsag Capital Project in accordance with the terms and conditions of this <u>Section 7.16</u> (without duplication of any amounts specifically taken to account in the Net Working Capital Adjustment) (the &#8220;<a name="z_Hlk48460386"></a><u>Retsag Capital Project Cost Reimbursement</u>&#8221;) and (ii) the amount, if any, that Tredegar Hungary pays to the operating director of Tredegar Hungary after Closing pursuant to the Retsag Indemnification Letter
              attached hereto in <u>Annex 7.16(a)</u> (the &#8220;<u>Indemnification Liability</u>&#8221;).</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref48872212"></a>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; At least seven days prior to Closing, Seller&#8217;s Representative will provide Buyer&#8217;s Parent with a statement setting forth the Retsag Capital Project
              costs so far incurred by Tredegar Hungary as of the statement date and anticipated to be incurred prior to Closing, a description of the work performed as of the statement date and likely to be performed prior to and after Closing, and the
              anticipated costs that will need to be incurred after Closing in order to complete the Retsag Capital Project (the &#8220;<u>Estimated Retsag Post-Closing Costs</u>&#8221;).&#160; After Closing, if Tredegar Hungary determines that the actual costs to complete
              the Retsag Capital Project in accordance with the approved budget included in <u>Annex 7.16(b)</u> will exceed the Estimated Retsag Post-Closing Costs by more than ten percent (such amount in excess of ten percent, the &#8220;<u>Retsag Excess
                Capital Project Overrun</u>&#8221;), then Seller&#8217;s Parent shall have no obligation to reimburse Tredegar Hungary for the Retsag Excess Capital Project Overrun unless Buyer&#8217;s Parent shall have notified Seller&#8217;s Representative.in advance of
              performing the work giving rise to such excess and provided reasonable documentation of the basis for the Retsag Excess Capital Project Overrun, and Seller&#8217;s Parent shall have approved such work, which approval shall not be unreasonably
              withheld, conditioned or delayed.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref48872307"></a>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Sellers&#8217; Parent, prior to Closing, and Buyers&#8217; Parent, after Closing, will (i) ensure Tredegar Hungary manages and completes the Retsag Capital Project
              in an expeditious and good and workmanlike manner in compliance with all applicable Laws, including prudently managing costs in accordance with the Retsag Capital Project and any approved Retsag Excess Capital Project Overrun, and (ii) upon
              the request of Buyers&#8217; Parent or Sellers&#8217; Parent, as applicable, reasonably update the other as to the status of the Retsag Capital Project prior to the completion thereof.</div>
            <div><br>
            </div>
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              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-65-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref48872336"></a>(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Within 30 days or as soon as reasonably practicable thereafter, following completion of the Retsag Capital Project and Tredegar Hungary&#8217;s receipt of
              all applicable certifications of completeness and other deliverables required under the Retsag Capital Project and by applicable Law, Buyers&#8217; Parent will submit to Sellers&#8217; Representative a certificate signed by the site manager and the site
              controller for Tredegar Hungary at the time of delivery thereof (the &#8220;<u>Retsag Remediation Completion Certificate</u>&#8221;), which includes (i) copies of such certifications and deliverables and evidence of the costs and expenses incurred by
              Tredegar Hungary consistent with the format set forth in Schedule D of the Retsag Capital Project, including disclosing all amounts paid by Tredegar Hungary after Closing, with such post-Closing amounts (other than unapproved Retsag Excess
              Capital Project Overruns) constituting the &#8220;<u>Retsag Remediation Liability</u>&#8221; and (ii) evidence of any payments made under the Retsag Indemnification Letter, which amounts constitute the Indemnification Liability.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref48870966"></a>(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160; If Sellers&#8217; Parent has any objections in good faith to any costs included in the Retsag Remediation Completion Certificate, it shall notify Buyers&#8217;
              Parent within 15 Business Days of receipt thereof of each such item in dispute in reasonable detail, including the reasonable basis of such disagreement (the &#8220;<u>Retsag Remediation Completion Certificate Objection</u>&#8221;).&#160; For the avoidance of
              doubt, if Sellers&#8217; Parent does not deliver the Retsag Remediation Completion Certificate Objection within such 15 Business Day-period, then the Retsag Remediation Liability and the Indemnification Liability as set forth in the Retsag
              Remediation Completion Certificate shall become final and binding upon all parties.&#160; If Sellers&#8217; Parent timely delivers the Retsag Remediation Completion Certificate Objection, then Sellers&#8217; Representative and Buyers&#8217; Parent shall negotiate
              in good faith for ten Business Days following Buyers&#8217; Parent&#8217;s receipt of such Retsag Remediation Completion Certificate Objection to resolve such objections (any unresolved objection, a &#8220;<u>Retsag Remediation Completion Certificate Objection
                Dispute</u>&#8221;).&#160; After such ten Business Day period, any item or matter set forth in the Retsag Remediation Completion Certificate Objection that is not a Retsag Remediation Completion Certificate Objection Dispute shall become final and
              binding upon all parties, and Buyers&#8217; Parent and Sellers&#8217; Representative agree to submit only those unresolved Retsag Remediation Completion Certificate Objection Disputes for the Retsag Remediation Completion Certificate Objection to the
              Accounting Firm for resolution.&#160; Buyers&#8217; Parent and Sellers&#8217; Representative further agree to instruct the Accounting Firm to resolve only such remaining unresolved Retsag Remediation Completion Certificate Objection Disputes as soon as
              reasonably practicable after such disputes are submitted to the Accounting Firm and in any event, within 30 days after submission.&#160; The resolution of each such Retsag Remediation Completion Certificate Objection Dispute by the Accounting Firm
              will (i) be set forth in writing, (ii) be within the range of dispute between Buyers&#8217; Parent and Sellers&#8217; Representative, (iii) constitute an arbitral award, and (iv) absent fraud or manifest error, be conclusive and binding upon all the
              parties upon which a judgment may be rendered by a court having proper jurisdiction.&#160; Upon delivery of such resolution, the Retsag Remediation Liability and the Indemnification Liability, as modified in accordance with such resolution, shall
              become final and binding upon all parties and shall be paid in accordance with <u>Section 7.16(g)</u>.</div>
            <div style="text-align: justify;"> <br>
            </div>
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            </div>
            <div style="text-align: justify; text-indent: 108pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The fees, costs and expenses of the Accounting Firm shall be allocated between Buyers&#8217; Parent and Sellers&#8217; Representative based upon the percentage by which the portion of the
              Retsag Remediation Completion Certificate Objection Dispute not awarded to each party bears to the amount actually contested by such party in the same manner as described in <u>Section 2.3(c)</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref48870886"></a>(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160; As used herein, &#8220;Final Retsag Remediation Liability&#8221; and &#8220;Final Indemnification Liability&#8221; mean (i) if Sellers&#8217; Representative fails to deliver a
              Retsag Remediation Completion Certificate Objection in accordance with <u>Section 7.16(e)</u>, the Retsag Remediation Liability and the Indemnification Liability as set forth in the Retsag Remediation Completion Certificate delivered by
              Buyers&#8217; Parent, or (ii) if the Retsag Remediation Liability or the Indemnification Liability is resolved by Buyers&#8217; Parent and Sellers&#8217; Representative or by submission of any remaining Retsag Remediation Completion Certificate Objection
              Disputes to the Accounting Firm, as contemplated by <u>Section 7.16(e)</u>, the Retsag Remediation Liability and the Indemnification Liability, as applicable, so resolved.&#160; Within five Business Days of the determination of the Final Retsag
              Remediation Liability and the Final Indemnification Liability, Sellers&#8217; Parent will pay or cause to be paid to Buyers&#8217; Parent in cash, by wire transfer of immediately available funds to an account specified by Buyers&#8217; Parent, the Final Retsag
              Remediation Liability and the Final Indemnification Liability. Whenever any payment under this <u>Section 7.16(g)</u> shall be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day.</div>
            <div>&#160;</div>
            <div style="text-align: center;"><a name="z_Toc48978808"></a>ARTICLE VIII</div>
            <div>&#160;</div>
            <div style="text-align: center;"><a name="z_Ref46825941"></a><u>CONDITIONS PRECEDENT TO OBLIGATIONS OF BUYERS</u></div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;">The obligations of Buyers to consummate the transactions contemplated by this Agreement are subject to the satisfaction (or waiver by Buyers&#8217; Parent on behalf of the applicable Buyer in
              writing) of the following conditions as of the Closing Date:</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46829731"></a><a name="z_Ref46829837"></a><a name="z_Toc48978809"></a>8.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Representations and Warranties</u>.&#160; Each of the representations and warranties of Sellers
              contained in this Agreement shall be true and correct as of the Closing Date as if made on and as of such date (other than representations and warranties that address matters only as of a certain date which shall be true and correct as of
              such certain date), in each case, excepting only inaccuracies in such representations and warranties that, both individually and in the aggregate, have not had and would not reasonably be expected to have, a Material Adverse Effect.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46829843"></a><a name="z_Toc48978810"></a>8.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Covenants and Agreements</u>.&#160; Sellers shall have performed and complied in all material respects with all covenants
              and agreements required by this Agreement to be performed and complied with by them prior to or on the Closing Date.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46829707"></a><a name="z_Toc48978811"></a>8.3&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Absence of Material Adverse Effect</u>.&#160; Since the date of this Agreement, there shall have been no Material Adverse
              Effect; <u>provided</u>, <u>however</u>, that any Effect resulting from the following responses to a disease outbreak, including the novel corona virus (and any resulting COVID-19 or related sickness) will not be taken into account for the
              purposes of this <u>Section 8.3</u>: (a) a sanctioned response by a Governmental Authority, (b) compliance with applicable Law or (c) an action to which Buyers&#8217; Parent consented in writing pursuant to clause (6) of the first paragraph of <u>Section





                7.1(a)</u>.</div>
            <div style="text-align: justify;"> <br>
            </div>
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            </div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46829740"></a><a name="z_Toc48978812"></a>8.4&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Reorganization</u>.&#160; The Reorganization Completion shall have occurred on or prior to the Closing Date in accordance
              with the terms and conditions of <u>Exhibit B</u>, and evidence of completion thereof shall be provided to, and to the satisfaction of, Buyers promptly thereafter.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572276"></a><a name="z_Toc48978813"></a>8.5&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Deliveries at Closing</u>.&#160; Sellers&#8217; Representative shall have delivered or caused to be delivered to Buyers&#8217; Parent
              the following documents, each properly executed and dated as of the Closing Date (unless otherwise specified below), as applicable, and in form and substance reasonably acceptable to Buyers&#8217; Parent:</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572277"></a>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a duly executed instrument of transfer, in customary form, to effect the transfer of the Capital Stock of TFP from Sellers&#8217; Parent to Fitesa US;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572278"></a>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Tredegar Brasil Deliverables set forth in Section 1 of <u>Exhibit D</u>;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572279"></a>(c)&#160;&#160;&#160;&#160; &#160;&#160; the Tredegar India Interests Purchase Agreement and the documents and instruments set forth in <u>Section 2.4</u> thereunder that are required to be
              delivered at Closing in order to effect the purchase and sale of the Tredegar India Interests and the transfer of legal ownership of the Nominee Interest as contemplated thereby;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572280"></a>(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a certificate of an authorized officer of Sellers&#8217; Parent certifying as to the satisfaction of the closing conditions set forth in <u>Sections 8.1</u>
              through <u>8.4</u>;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572281"></a>(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;a certificate of the secretary or other authorized officer of Sellers&#8217; Parent certifying as to the resolutions of the board of directors or sole
              member, as applicable, of each Seller authorizing and approving the execution and delivery of this Agreement by such Seller and all other agreements contemplated hereby, the performance of such Seller&#8217;s obligations hereunder and thereunder
              and the consummation of the transactions contemplated hereby and thereby;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572282"></a>(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;a certificate of the secretary or other authorized officer of each Target Company:&#160; <a name="DocXTextRef315"></a>(i) certifying as to the accuracy
              and completeness of attached copies of the Organizational Documents of such Target Company, and (ii) certifying as to the resolutions of the applicable governing body of such Target Company authorizing and approving the execution and delivery
              of any agreement contemplated hereby to which such Target Company is a party and the performance of such Target Company&#8217;s obligations thereunder and the consummation of the transactions contemplated thereby;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47521731"></a>(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160; instruments necessary to effect the resignations, effective as of Closing, of the directors, managers and officers, as applicable, of the Target
              Companies and Target Subsidiaries set forth on <u>Annex 8.5(g)</u>, including, as required by applicable Law, resolutions of the governing bodies of a Target Company or any Target Subsidiary and amendments to applicable Organizational
              Documents;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47440062"></a>(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160; evidence, to the reasonable satisfaction of Buyers&#8217; Parent, that each Sellers&#8217; Approval and Target Companies Approval set forth on <u>Annex 8.5(h)</u>
              has been obtained;</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-68-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
                <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572283"></a>(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Escrow Agreement;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572284"></a>(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Transition Services Agreement;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572285"></a>(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Payoff Letters;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572286"></a>(l)&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; evidence of the termination of the Sellers&#8217; Affiliate Contracts;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572287"></a>(m)&#160;&#160;&#160;&#160;&#160;&#160; a statement by each Seller, in the form set forth in Treasury Regulation &#167;1.1445-2(b)(2) and under penalties of perjury, that each Seller is not a
              foreign person.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572288"></a><a name="z_Toc48978814"></a>8.6&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Legal Prohibition</u>.&#160; No Law shall be in effect and no Order shall have been entered that, and no action, suit, or
              proceeding will be pending or threatened before any court or administrative body in which it is sought to, in each case restrain, enjoin or prohibit the performance of all or any part of this Agreement or the consummation of all or any part
              of the transactions contemplated hereby, or declare unlawful the transactions contemplated hereby or would cause any such transactions to be rescinded.</div>
            <div>&#160;</div>
            <div style="text-align: center;"><a name="z_Toc48978815"></a>ARTICLE IX</div>
            <div>&#160;</div>
            <div style="text-align: center;"><a name="z_Ref46825949"></a><u>CONDITIONS PRECEDENT TO OBLIGATIONS OF SELLERS</u></div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;">The obligations of Sellers to consummate the transactions contemplated by this Agreement are subject to the satisfaction (or waiver by Sellers&#8217; Representative in writing) of the following
              conditions as of the Closing Date:</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46829797"></a><a name="z_Ref46829819"></a><a name="z_Toc48978816"></a>9.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Representations and Warranties</u>.&#160; Each of the representations and warranties of Buyers
              contained in this Agreement shall be true and correct on and as of the Closing Date as if made on and as of such date (other than representations and warranties that address matters only as of a certain date which shall be true and correct as
              of such certain date), except where all such breaches and inaccuracies would not reasonably be expected to affect the ability of Buyers to consummate the transactions contemplated hereby.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46829804"></a><a name="z_Ref46829825"></a><a name="z_Toc48978817"></a>9.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Covenants and Agreements</u>.&#160; Buyers shall have performed and complied in all material
              respects with all covenants and agreements required by this Agreement to be performed and complied with by it prior to or on the Closing Date.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572289"></a><a name="z_Toc48978818"></a>9.3&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Deliveries at Closing</u>.&#160; Buyers&#8217; Parent shall have delivered or caused to be delivered to Sellers&#8217; Representative the
              following documents, each properly executed and dated as of the Closing Date, and in form and substance reasonably acceptable to Sellers&#8217; Representative:</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572290"></a>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Tredegar Brasil Deliverables set forth in Section 2 of <u>Exhibit D</u>;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572291"></a>(b)&#160;&#160;&#160;&#160;&#160;&#160; the Tredegar India Interests Purchase Agreement and the documents and instruments set forth in <u>Section 2.4</u> thereunder that are required to be
              delivered at Closing in order to effect the purchase and sale of the Tredegar India Interests and the transfer of legal ownership of the Nominee Interest as contemplated thereby;</div>
            <div style="text-align: justify;"><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-69-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
                <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572292"></a>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;a certificate of an authorized officer of Buyers&#8217; Parent certifying as to the satisfaction of the closing conditions set forth in <u>Sections 9.1</u>
              and <u>9.2</u>;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572293"></a>(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;a certificate of the secretary or other authorized officer of Buyers&#8217; Parent certifying as to:&#160; <a name="DocXTextRef319"></a>(i) the accuracy and
              completeness of attached copies of the Organizational Documents of each Buyer certified by the applicable Governmental Authority as of a recent date, and (ii) the resolutions of the equityholders of Buyers, if required, and the board of
              directors or the board of managers, as applicable, of Buyers authorizing and approving the execution and delivery of this Agreement by Buyer and all other agreements contemplated hereby, the performance of Buyers&#8217; obligations hereunder and
              thereunder and the consummation of the transactions contemplated hereby and thereby;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572294"></a>(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160; instruments necessary to effect the replacement, effective as of Closing, of the directors, managers and officers, as applicable, of the Target
              Companies and Target Subsidiaries set forth on <u>Annex 8.5(h)</u>, including, as required by applicable Law, resolutions of the governing bodies of a Target Company or any Target Subsidiary and amendments to applicable Organizational
              Documents;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Escrow Agreement; and</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572295"></a>(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Transition Services Agreement.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572296"></a><a name="z_Toc48978819"></a>9.4&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Legal Prohibition</u>.&#160; No Law shall be in effect and no Order shall have been entered, in each case that restrains,
              enjoins or prohibits the performance of all or any part of this Agreement or the consummation of all or any part of the transactions contemplated hereby, or declares unlawful the transactions contemplated hereby or would cause any of the
              transactions contemplated hereby to be rescinded.</div>
            <div>&#160;</div>
            <div style="text-align: center;"><a name="z_Toc48978820"></a>ARTICLE X</div>
            <div>&#160;</div>
            <div style="text-align: center;"><a name="z_Ref_docxtools_891"></a></div>
            <div style="text-align: center;"><a name="z_Ref46826742"></a><u>TERMINATION</u></div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46829911"></a><a name="z_Ref46829939"></a><a name="z_Toc48978821"></a>10.1&#160;&#160;&#160;&#160;&#160;&#160; <u>Termination</u>.&#160; This Agreement may not be terminated prior to the Closing Date except as
              follows:</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572297"></a>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;by the mutual written consent of Buyers&#8217; Parent and Sellers&#8217; Representative;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572298"></a>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; by Buyers&#8217; Parent (if Buyers are not in material breach of its representations, warranties, covenants or agreements under this Agreement so as to cause
              any of the conditions set forth in <u>Section 9.1</u> or <u>9.2</u> not to be satisfied), upon written notice to Sellers&#8217; Representative, if there has been a material violation, breach or inaccuracy of any representation, warranty, covenant
              or agreement of Sellers contained in this Agreement, which violation, breach or inaccuracy would cause any of the conditions set forth in <u>Section 8.1</u> or <u>8.2</u> not to be satisfied, and such violation, breach or inaccuracy has not
              been waived by Buyers Parent on behalf of the applicable Buyer or cured by Sellers, as applicable, within ten Business Days after receipt by Sellers&#8217; Representative of written notice thereof from Buyers&#8217; Parent or is not reasonably capable of
              being cured prior to the Termination Date;</div>
            <div style="text-align: justify;"> <br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-70-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
                <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572299"></a>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160; by Sellers&#8217; Representative (if Sellers are not in material breach of their representations, warranties, covenants or agreements under this Agreement so
              as to cause any of the conditions set forth in <u>Section 8.1</u> or <u>8.2</u> not to be satisfied), upon written notice to Buyers&#8217; Parent, if there has been a material violation, breach or inaccuracy of any representation, warranty,
              agreement or covenant of Buyers contained in this Agreement, which violation, breach or inaccuracy would cause any of the conditions set forth in <u>Section 9.1</u> or <u>9.2</u> not to be satisfied, and such violation, breach or inaccuracy
              has not been waived by Sellers&#8217; Representative on behalf of the applicable Seller or cured by Buyers within ten Business Days after receipt by Buyers&#8217; Parent of written notice thereof from Sellers&#8217; Representative or is not reasonably capable
              of being cured prior to the Termination Date;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46828236"></a>(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; by Buyers&#8217; Parent or Sellers&#8217; Representative, upon written notice to the other, if the transactions contemplated hereby have not been consummated on
              or before November 30, 2020 (the &#8220;<u>Termination Date</u>&#8221;); except that neither party shall be entitled to terminate this Agreement pursuant to this <u>Section 10.1(d)</u> if such party&#8217;s willful breach of this Agreement has prevented or
              materially delayed the consummation of the transactions contemplated hereby; <u>provided</u>, <u>further</u>, that (1) if all conditions to Closing have been satisfied by the Termination Date other than receipt of clearance of the
              transactions contemplated hereby from the applicable Brazilian Governmental Authority under applicable Competition Laws, then the Termination Date shall be extended to December 31, 2020 (provided that this clause (1) shall not apply in the
              case of receipt of a written denial of the transactions contemplated hereby from the applicable Brazilian Governmental Authority under applicable Competition Laws), or (2) if any condition to Closing has not been satisfied as a result of any
              delays associated with Governmental Authority disruptions due to the outbreak of the novel corona virus (and any resulting COVID-19 or related sickness), the Termination Date shall be extended for the period of such delay, but in no event
              beyond December 31, 2020; or</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572300"></a>(e)&#160;&#160;&#160;&#160; &#160; &#160; by Buyers&#8217; Parent or Sellers&#8217; Representative, upon written notice to the other, if a court of competent jurisdiction or any other Governmental
              Authority shall have issued a final, non-appealable Order preventing or otherwise prohibiting the consummation of the transactions contemplated by this Agreement.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46829923"></a><a name="z_Toc48978822"></a>10.2&#160;&#160;&#160;&#160;&#160;&#160; <u>Survival After Termination</u>.&#160; If this Agreement is terminated in accordance with <u>Section 10.1</u>, this Agreement
              shall become void and of no further force and effect; except that the provisions of this <u>Section 10.2</u> and <u>Article XII</u> shall survive the termination of this Agreement and that nothing herein shall relieve any party from any
              liability for a knowing or willful breaches of this Agreement prior to termination.&#160; For the avoidance of doubt, the failure by Buyers to consummate the transactions contemplated by this Agreement if they are obligated to do so hereunder will
              be considered a knowing and willful breach of this Agreement.&#160; For the avoidance of doubt, in the event of the termination of this Agreement by either Buyers&#8217; Parent or Sellers&#8217; Representative as provided in <u>Section 10.1</u>, the
              Confidentiality Agreement will survive the termination of this Agreement in accordance with its terms.</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-71-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
                <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
            </div>
            <div style="text-align: center;"><a name="z_Toc48978823"></a>ARTICLE XI</div>
            <div style="text-align: center;"><a name="z_Ref_docxtools_899"></a><br>
            </div>
            <div style="text-align: center;"><a name="z_Ref46826399"></a><u>SURVIVAL AND INDEMNIFICATION</u></div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46827504"></a><a name="z_Ref46827529"></a><a name="z_Ref46828393"></a><a name="z_Ref46830006"></a><a name="z_Toc48978824"></a>11.1&#160;&#160;&#160;&#160;&#160;&#160; <u>Survival After Closing</u>.&#160; All
              representations and warranties of Sellers contained in <u>Article IV</u> or <u>Article V</u>, respectively, and any related definitional provisions set forth in <u>Article I</u> (Definitions and Terms), and all covenants and agreements of
              Sellers to the extent requiring performance prior to Closing, shall survive until the date that is 24 months after the Closing Date, the Intermediate Cap Specific Indemnities shall survive until the date that is 36 months after the Closing
              Date, and all covenants and agreements of Sellers that require performance after the Closing Date, and any related definitional provisions set forth in <u>Article I</u> (Definitions and Terms), shall survive in accordance with their terms
              until fully performed, except that the Sellers&#8217; Fundamental Representations, and any related definitional provisions set forth in <u>Article I</u> (Definitions and Terms), shall survive until the earlier of <a name="DocXTextRef322"></a>(i)
              six years from the Closing Date or (ii) 60 days after the expiration of the applicable statute of limitations.&#160; All representations and warranties of Buyers contained in <u>Article VI</u>, and any related definitional provisions set forth in
              <u>Article I</u> (Definitions and Terms), and all covenants and agreements of Buyers to the extent requiring performance prior to Closing, shall survive until the date that is 24 months after the Closing Date and the covenants and agreements
              of Buyers that require performance after the Closing Date, and any related definitional provisions set forth in <u>Article I</u> (Definitions and Terms), shall survive in accordance with their terms, except that <u>Sections 6.1</u> (Buyers&#8217;
              Corporate Organization), <u>6.2</u> (Buyers&#8217; Due Authorization) and <u>6.8</u> (Buyers&#8217; Brokers), and any related definitional provisions set forth in <u>Article I</u> (Definitions and Terms), shall survive earlier of <a name="DocXTextRef323"></a>(i) six years from the Closing Date or (ii) 60 days after the expiration of the applicable statute of limitations.&#160; For the avoidance of any doubt and notwithstanding anything to the contrary, any claims for
              indemnification related to Fraud shall survive the Closing and remain in effect until 60 days after the expiration of the applicable statute of limitations.&#160; On the 12 month anniversary of the Closing Date (the &#8220;<u>Drop-Down Escrow Release
                Date</u>&#8221;), the Escrow Agent will release to Sellers&#8217; Representative an amount equal to 50% of the Escrow Amount (as of the date the Escrow Amount was deposited into the Escrow Account) less the aggregate amount of Losses specified in any
              then unresolved good faith indemnification claims made by Buyers&#8217; Indemnified Party for which a Notice of Claim has been duly delivered in accordance with this <u>Article XI</u> and the terms of the Escrow Agreement, and on the 24 month
              anniversary of the Closing Date (the &#8220;<u>Final Escrow Release Date</u>&#8221;), the Escrow Agent will release to Sellers&#8217; Representative the remaining balance of the Escrow Amount from the Escrow Account less the aggregate amount of Losses
              specified in any then unresolved good faith indemnification claims made by Buyers&#8217; Indemnified Party for which a Notice of Claim has been duly delivered in accordance with this <u>Article XI</u> and the terms of the Escrow Agreement.&#160; To the
              extent that any amount is reserved and withheld from distribution from the Escrow Account on the Drop-Down Escrow Release Date on account of such an unresolved claim for indemnification and&#160; subsequent to the Drop-Down Escrow Release Date but
              before the Final Escrow Release Date, such claim is resolved, Buyers&#8217; Parent and Sellers&#8217; Representative shall promptly jointly direct the Escrow Agent to release <a name="DocXTextRef324"></a>(a) to Buyers as directed by Buyers&#8217; Parent the
              amount of its Losses, if any, due in respect of such claim as finally determined, and <a name="DocXTextRef325"></a>(b) to Sellers&#8217; Representative an amount equal to the excess, if any, of the amount by which <a name="DocXTextRef320"></a>(1)
              the amount theretofore reserved and withheld from distribution in respect of such claim over the payment, if any, made pursuant to the foregoing, clause (a) of this sentence exceeds <a name="DocXTextRef321"></a>(2) an amount equal to 50% of
              the Escrow Amount (as of the date the Escrow Amount was deposited into the Escrow Account).&#160; To the extent that any amount is reserved and withheld from distribution from the Escrow Account on the Final Escrow Release Date on account of such
              an unresolved claim for indemnification and subsequent to the Final Escrow Release Date, such claim is resolved, Buyers&#8217; Parent and Sellers&#8217; Representative shall promptly jointly direct the Escrow Agent to release <a name="DocXTextRef326"></a>(x)





              to Buyers as directed by Buyers&#8217; Parent the amount of its Losses, if any, due in respect of such claim as finally determined, and <a name="DocXTextRef327"></a>(y) to Sellers&#8217; Representative an amount equal to the excess, if any, of the
              amount theretofore reserved and withheld from distribution in respect of such claim over the payment, if any, made pursuant to the foregoing, clause (x) of this sentence.&#160; Claims against any party hereto alleging Fraud may be asserted at any
              time after Closing and prior to the latest date permitted by the applicable statute of limitations</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-72-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
                <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
            </div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46830065"></a><a name="z_Ref46830138"></a><a name="z_Toc48978825"></a>11.2&#160;&#160;&#160;&#160;&#160;&#160; <u>Indemnification</u>.&#160; Subject to the limitations set forth in this <u>Article XI</u>,
              including <u>Sections 11.1</u> and <u>11.4</u>, following Closing:</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46827464"></a>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Sellers&#8217; Parent, on behalf of Sellers, agrees to indemnify, defend, and hold harmless Buyers and their Affiliates (including the Target Companies and
              Target Subsidiaries) and their respective officers, directors, employees, stockholders, managers, members, agents, successors, permitted assigns, agents, and other representatives (collectively, the &#8220;<u>Buyers&#8217; Indemnified Parties</u>,&#8221; and
              each, a &#8220;<u>Buyers&#8217; Indemnified Party</u>&#8221;), against and in respect of any loss, liability, obligation, damage, claim, cost or expense (including reasonable attorneys&#8217; fees and expenses) (collectively, &#8220;<u>Losses</u>&#8221;) arising from or
              relating to:</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572301"></a>(i)&#160;&#160;&#160;&#160; &#160; &#160;&#160;&#160; any inaccuracy in or breach of any of Sellers&#8217; representations and warranties set forth in <u>Article IV</u> or <u>Article V</u>
              of this Agreement other than any inaccuracy in or breach of Sellers&#8217; Fundamental Representations;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572302"></a>(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any inaccuracy in or breach of Sellers&#8217; Fundamental Representations;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572303"></a>(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any breach or nonperformance of the covenants and agreements of Sellers contained in this Agreement;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572304"></a>(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the implementation of, and the performance of the steps required to complete, or any non-fulfilment by Sellers of, the
              Reorganization, including any Reorganization Taxes, whether such Losses arise before, on, or after the Closing; and</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref48874622"></a><a name="z_Ref47572305"></a>(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the matters set forth in <u>Annex 11.2(a)(v)</u> as though set forth herein.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46828255"></a>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Buyers&#8217; Parent, on behalf of Buyers, agrees to indemnify, defend and hold harmless Sellers, their Affiliates and their respective officers, directors,
              employees, stockholders, managers, members, agents, successors, permitted assigns, agents, and other representatives (collectively, the &#8220;<u>Sellers&#8217; Indemnified Parties</u>,&#8221; and each, a &#8220;<u>Sellers&#8217; Indemnified Party</u>&#8221;), against and in
              respect of any Losses that result, directly or indirectly, from <a name="DocXTextRef331"></a>(i) any inaccuracy in or breach of any of Buyers&#8217; representations and warranties set forth in <u>Article VI</u> of this Agreement; and (ii) any
              breach or nonperformance of the covenants and agreements of Buyers contained in this Agreement.</div>
            <div style="text-align: justify;"> <br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-73-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46827496"></a><a name="z_Ref46830150"></a><a name="z_Toc48978826"></a>11.3&#160;&#160;&#160;&#160;&#160;&#160; <u>Indemnification Procedure</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46827539"></a><a name="z_Toc48978651"></a>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If a Buyers&#8217; Indemnified Party or a Sellers&#8217; Indemnified Party (an &#8220;<u>Indemnified Party</u>&#8221;) learns of any matter that
              it believes will entitle such Indemnified Party to indemnification from Sellers&#8217; Parent or Buyers&#8217; Parent, respectively (a &#8220;<u>Direct Claim</u>&#8221;), under <u>Section 11.2</u> (the &#8220;<u>Indemnifying Party</u>&#8221;), the Indemnified Party shall
              deliver to the Indemnifying Party a notice describing such matter in reasonable detail, including the nature of the claim, the basis for the indemnification obligation, to the extent reasonably estimable and then known, the estimated Losses
              resulting therefrom (and a good-faith estimate of any such future Losses relating thereto), the provision(s) of this Agreement in respect of which such Losses shall have occurred and reasonable supporting documentation (a &#8220;<u>Notice of Claim</u>&#8221;).A





              failure by the Indemnified Party to give notice in a timely manner pursuant to this <u>Section 11.3(a)</u> shall not limit the obligations of the Indemnifying Party under this <u>Article XI</u>, except to the extent such Indemnifying Party
              is materially prejudiced thereby (as determined by a court of competent jurisdiction).&#160; In the event the Indemnifying Party does not notify the Indemnified Party within 30 days following its receipt of such notice that the Indemnifying Party
              disputes its liability to the Indemnified Party under this <u>Article XI</u> or the amount thereof, the Direct Claim specified by the Indemnified Party in such notice shall be conclusively deemed a liability of the Indemnifying Party under
              this <u>Article XI</u>, and the Indemnifying Party shall pay the amount of such liability to the Indemnified Party on demand or, in the case of any notice in which the amount of the Direct Claim (or any portion of the Direct Claim) is
              estimated, on such later date when the amount of such Direct Claim (or such portion of such Direct Claim) becomes finally determined. In the event the Indemnifying Party has timely disputed its liability with respect to such Direct Claim as
              provided herein, the Indemnifying Party and the Indemnified Party shall attempt in good faith for 15 Business Days to negotiate a resolution of such dispute and agree upon the rights of the respective parties with respect to such Direct
              Claim. If the Indemnifying Party and Indemnified Party should so agree, a memorandum setting forth such agreement shall be prepared and signed by Buyers&#8217; Parent and Sellers&#8217; Representative. If the Indemnifying Party and Indemnified Party
              shall not agree, then the parties hereto shall establish the merits and amount of such Direct Claim (by mutual agreement or litigation in the appropriate court of competent jurisdiction set forth in <u>Section 12.10</u>) and, within five
              Business Days following the final determination of the merits and amount of such Direct Claim, the Indemnifying Party shall pay to the Indemnified Party immediately available funds in an amount equal to such Direct Claim as determined
              hereunder.</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-74-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46828274"></a>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If the Notice of Claim involves a claim by a Person who is not a party to this Agreement or an Affiliate thereof (a &#8220;<u>Third Party Claim</u>&#8221;), the
              Indemnified Party shall deliver the Notice of Claim to the Indemnifying Party within 15 days after learning of such claim (or within such shorter time as may be necessary to give the Indemnifying Party a reasonable opportunity to respond to
              and defend such claim); <u>provided</u>, <u>however</u>, that any failure of the Indemnified Party to provide timely a Notice of Claim shall not affect the Indemnifying Party&#8217;s right to assume the defense of any such Third Party Claim.&#160; The
              Indemnifying Party will have the right, within the shorter of <a name="DocXTextRef332"></a>(x) 15 days after receipt from the Indemnified Party of the Notice of Claim or <a name="DocXTextRef333"></a>(y) five Business Days prior to any
              deadline for filing pleadings or similar documents imposed by a Governmental Authority with jurisdiction over the Third Party Claim, to assume and conduct at its sole cost and expense the defense of such Third Party Claim except that the
              Indemnifying Party shall not be entitled to assume or continue control of the defense of any Third Party Claim if <a name="DocXTextRef334"></a>(i) the claim involves criminal liability, (ii) the claim seeks exclusively an injunction or
              equitable relief against any Indemnified Party or any of its Affiliates or (iii) the Indemnifying Party has failed or is failing to defend the claim in good faith.&#160; During the period referred to in the preceding sentence, the Indemnified
              Party shall, and shall cause its Affiliates and its and their respective officers and directors to, provide such information to the Indemnifying Party as the Indemnifying Party may reasonably request in connection with its evaluation of
              whether a Third Party Claim is an indemnifiable claim under <u>Section 11.2</u>.&#160; Notwithstanding the assumption of the defense of any claim by the Indemnifying Party, the Indemnified Party shall have the right to employ separate legal
              counsel and to participate in the defense of such claim, and the Indemnifying Party shall bear the reasonable fees, out-of-pocket costs and expenses of such separate legal counsel to the Indemnified Party if (and only if):&#160; <a name="DocXTextRef335"></a>(x) the Indemnifying Party shall have agreed to pay such fees, out-of-pocket costs and expenses, <a name="DocXTextRef336"></a>(y) in the written opinion of counsel to the Indemnified Party a conflict of interest
              arises out of the representation of the interests of such Indemnified Party by counsel selected by the Indemnifying Party or <a name="DocXTextRef337"></a>(z) the Indemnifying Party shall have failed to employ legal counsel reasonably
              satisfactory to the Indemnified Party within a reasonable period of time after the Notice of Claim.&#160; If the Indemnified Party employs separate legal counsel in circumstances other than as described in the preceding clauses (x), <a name="DocXTextRef338"></a>(y) or <a name="DocXTextRef339"></a>(z), the fees, costs and expenses of such legal counsel shall be borne exclusively by the Indemnified Party.&#160; The Indemnifying Party shall not in connection with each Third
              Party Claim be liable for the fees and expenses of more than one firm of legal counsel for all of the Indemnified Parties.&#160; If the Indemnifying Party (having assumed the defense of a Third Party Claim) or the Indemnified Party (having
              proceeded with its own defense of a Third Party Claim in accordance with this <u>Section 11.3</u>) proposes to settle such Third Party Claim, the Indemnifying Party or the Indemnified Party (as applicable) shall provide notice to that effect
              (together with a reasonably detailed statement of the terms and conditions of such settlement) to the Indemnified Party or the Indemnifying Party (as applicable), which notice shall be provided a reasonable time prior to the proposed time for
              effecting such settlement, and shall not effect any such settlement without the prior consent of the Indemnified Party or the Indemnifying Party (as applicable), which consent shall not be unreasonably withheld, delayed or conditioned.&#160;
              Notwithstanding the foregoing, no such consent of the Indemnified Party shall be required if the related settlement does not entail any admission of liability on the part of any Indemnified Party and provides for the full release of the
              Indemnified Party from any and all liability in respect of such Third Party Claim.&#160; The Indemnifying Party shall be solely responsible for any amounts payable under any such settlement agreement, as Losses of the Indemnified Party.&#160;
              Regardless which party assumes the defense of the Third Party Claim, the parties hereto agree to cooperate fully with one another in connection therewith and to keep each other reasonably informed of the status of the Third Party Claim and
              any related proceeding and to take no action or make any admissions or statements that would adversely affect the defense of any such Third Party Claim.</div>
            <div><br>
            </div>
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              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-75-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46830013"></a><a name="z_Toc48978827"></a>11.4&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Limitations on Indemnification</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46828140"></a>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Notwithstanding anything to the contrary set forth herein, no Buyers&#8217; Indemnified Party or Sellers&#8217; Indemnified Party will be entitled to recover for
              Losses under <u>Section 11.2(a)</u> or <u>11.2(b)</u>, as applicable, <a name="DocXTextRef340"></a>(i) that individually are in an amount of $25,000 or less (a &#8220;<u>Minor Claim</u>&#8221;), which Minor Claims will not be aggregated unless such
              Minor Claims are part of a substantially similar class of, or related, claims, or (ii) unless and until Losses arising out of an individual claim or a series of unrelated claims, aggregate to an amount in excess of $302,500 (the &#8220;<u>Threshold
                Amount</u>&#8221;<a name="z_Ref47572383"></a>)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">,</sup> in which case, the Indemnifying Party will only be liable for the amount of Losses sought by the Indemnified Party in
              excess of the Threshold Amount.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572311"></a>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Buyers&#8217; Indemnified Parties first will exhaust the Escrow Account for all indemnifiable Losses under <u>Section 11.2(a)</u> before pursuing any
              other remedy hereunder, second will recover from the R&amp;W Policy (to the extent covered thereby) until the maximum amount recoverable under the R&amp;W Policy has been met, and third, solely to the extent there are any remaining Losses,
              may proceed directly against the Sellers&#8217; Parent.&#160; Notwithstanding anything herein to the contrary, in no event shall the aggregate liability of Sellers&#8217; Parent, collectively, for all claims by the Buyers&#8217; Indemnified Parties for
              indemnifiable Losses under (i) <u>Section 11.2(a)(i)</u> exceed the Escrow Amount, and such amounts shall be recoverable solely from the Escrow Account, (ii) the Intermediate Cap Specific Indemnities, in the aggregate, exceed an amount equal
              to $9,075,000, and (iii) <u>Sections 11.2(a)(ii)</u> through <u>11.2(a)(v)</u>, in the aggregate (including, for the avoidance of doubt, any items set forth in <u>Annex 11.2(a)(v)</u>), exceed the aggregate amount of the Purchase Price, as
              finally determined pursuant to <u>Section 2.3</u>, actually received by Sellers; <u>provided</u>, <u>however</u>, that the foregoing limitations in clauses (i), (ii) and (iii) do not apply to a claim for Fraud (but exclusively to such
              claim of Fraud and any claims substantially related to Fraud, and such foregoing limitations shall apply to other unrelated claims brought in the same Action), which claim for Fraud has been proven in a court of competent jurisdiction.&#160; In
              all cases, Buyers shall use commercially reasonable efforts to recover insurance proceeds for all Losses for which the insurer may be liable under the R&amp;W Policy.&#160; Nothing herein is intended to limit or affect Buyers&#8217; ability to make
              claims against or recover amounts under the R&amp;W Policy.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572312"></a>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The indemnification obligation of Buyers shall be capped at the amount of the Purchase Price, as finally determined pursuant to <u>Section 2.3</u>,
              actually received by Sellers; <u>provided</u>, <u>however</u>, that the foregoing limitations do not apply to a claim for Fraud (but exclusively to such claim of Fraud and any claims substantially related to Fraud, and such foregoing
              limitations shall apply to other unrelated claims brought in the same Action), which claim for Fraud has been proven in a court of competent jurisdiction.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572313"></a>(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each of the representations, warranties, covenants, agreements or other obligations contained herein that contains any &#8220;Material Adverse Effect,&#8221;
              &#8220;material,&#8221; &#8220;in all material respects,&#8221; or similar materiality qualifications shall be read as though such qualifications were not contained therein for the purposes of determining whether or not an Indemnified Party is entitled to
              indemnification pursuant to this <u>Article XI</u> or the amount of Losses to which such Indemnified Party may be entitled under this <u>Article XI</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572314"></a>(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Notwithstanding anything to the contrary in this Agreement, any amounts payable pursuant to the indemnification obligations under this Agreement shall
              be paid without duplication and in no event shall <a name="DocXTextRef341"></a>(i) any Indemnifying Party be obligated to indemnify any Indemnified Party with respect to any Losses with respect to any matter to the extent such matter was
              taken into account in the Adjustment Amount pursuant to <u>Sections 2.2(b)</u> and <u>2.3</u>; or (ii) any Indemnified Party be indemnified under different provisions of this Agreement for the same Losses.</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-76-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46828265"></a>(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160; The representations, warranties and covenants of the Indemnifying Party, and the Indemnified Party&#8217;s right to indemnification with respect thereto,
              shall not be affected or deemed waived by reason of any investigation made by or on behalf of the Indemnified Party (including by any of its representatives) or by reason of the fact that the Indemnified Party or any of its representatives
              knew or should have known that any such representation or warranty is, was or might be inaccurate or by reason of the Indemnified Party&#8217;s waiver of any condition set forth in <u>Article VIII</u> or <u>Article IX</u>, as the case may be.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47564681"></a><a name="z_Ref46827563"></a>(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Amounts in respect of any Losses payable by any Indemnifying&#160; Party pursuant to the indemnification obligations under this
              Agreement shall be reduced by <a name="DocXTextRef342"></a>(i) any amounts actually received from third parties by or on behalf of the Indemnified Party (including applicable insurance proceeds), (ii) an amount equal to any Tax Benefit
              received by the Indemnified Party or any of its Affiliates as a result of such Losses or any of the circumstances giving rise thereto, in or prior to the taxable year in which indemnification for such Losses is paid by the Indemnifying Party
              (provided that this <u>Section 11.4(g)(ii)</u> shall only apply to the extent that a Loss is actually paid by an Indemnifying Party and shall exclude any Loss covered by the R&amp;W Policy), and (iii) any insurance proceeds (net of direct
              collection expenses) recovered by the Indemnified Party (such amounts and benefits are collectively referred to herein as &#8220;<u>Indemnity Reduction Amounts</u>&#8221;).&#160; If any Indemnified Party receives any Indemnity Reduction Amounts in respect of
              a claim for which indemnification is provided under this Agreement after the full amount of such claim has been paid by an Indemnifying Party or after an Indemnifying Party has made a partial payment of such claim and such Indemnity Reduction
              Amounts exceed the remaining unpaid balance of such claim, then the Indemnified Party shall promptly remit to the Indemnifying Party an amount equal to the excess (if any) of <a name="DocXTextRef343"></a>(x) the amount theretofore paid by
              the Indemnifying Party in respect of such claim, less <a name="DocXTextRef344"></a>(y) the amount of the indemnity payment that would have been due if such Indemnity Reduction Amounts in respect thereof had been received before the indemnity
              payment was made.&#160; For the avoidance of doubt, it is not intended that any insurer be released from any obligation or liability that it otherwise would have had under any of the Target Companies Insurance Policies set forth on <u>Schedule
                5.19(a)</u> or under the R&amp;W Policy as a result of the indemnification provisions of this Agreement or be entitled to any rights of subrogation in relation to any party&#8217;s rights under this Agreement as a result of any claims paid or
              payable by such insurer under any of the Target Companies Insurance Policies set forth on <u>Schedule 5.19(a)</u>.&#160; For purposes of this <u>Section 11.4(g)</u>, &#8220;<u>Tax Benefit</u>&#8221; shall mean any refund of Taxes paid or reduction in the
              amount of Taxes that otherwise would have been due and payable by the Indemnified Party, in each case determined at the Tax rate applicable to the character of income or gain of the Indemnified Party offset by such Losses in the taxable year
              such income or gain is offset.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572315"></a>(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Sellers and Buyer, as appropriate, shall each, or shall cause each Indemnified Party to, use commercially reasonable efforts to mitigate Losses for
              which indemnification is available under this <u>Article XI</u> and shall act in good faith in responding to, defending against, settling or otherwise dealing with such claims (and the reasonable and documented costs and expenses of such
              mitigation shall be indemnifiable Losses hereunder); provided, however, that Buyer shall not be required to take any action that could reasonably be expected to be detrimental to the reputation and prospects of the business, properties,
              assets, or liabilities of Buyer and its Affiliates.</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-77-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572316"></a>(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In no event shall any Indemnifying Party be liable to any Indemnified Party for any punitive damages relating to the breach or alleged breach of this
              Agreement, except to the extent any such punitive damages are required to be paid by a court of competent jurisdiction to a third party in respect of a Third Party Claim.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572317"></a><a name="z_Toc48978828"></a>11.5&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Exclusive Remedy</u>.&#160; Notwithstanding anything to the contrary herein, Buyers (on behalf of the Buyers&#8217; Indemnified
              Parties) acknowledge and agree that, except as provided in <u>Section 12.10(c)</u> or claims for Fraud, the indemnification pursuant to the provisions of this <u>Article XI</u> shall be the sole and exclusive remedies for any Losses,
              liability, damages or other amounts, whether or not arising out of Third Party Claims, of and for the Buyers&#8217; Indemnified Parties with respect to <a name="DocXTextRef347"></a>(a) any misrepresentation or inaccuracy in, or breach of, any
              representations or warranties of Sellers (or any other Person) or any breach or failure in performance of any covenants or agreements made by any Seller, in this Agreement or in any exhibit or schedule hereto or any document or certificate
              delivered hereunder or otherwise relating to the Sellers, or to the Target Companies and Target Subsidiaries, their respective businesses, operations, assets, properties, liabilities or the transactions contemplated hereby or <a name="DocXTextRef348"></a>(b) any other matter relating to the Sellers or to the Target Companies and Target Subsidiaries prior to Closing, the operation of their respective businesses prior to Closing, or any other transaction or state of
              facts involving any Target Company or any Target Subsidiary prior to Closing (including any common law or statutory rights or remedies for environmental, health or safety matters).&#160; Buyers (on behalf of the Buyers&#8217; Indemnified Parties)
              acknowledge and agree that the Buyers&#8217; Indemnified Parties may not avoid such limitation on liability by <a name="DocXTextRef349"></a>(i) seeking damages for breach of contract, tort or pursuant to any other theory of liability, all of which
              are hereby waived or (ii) asserting or threatening any claim against any Person that is not a party hereto (or a successor to a party hereto) for breaches of the representations, warranties, covenants or agreements contained in this
              Agreement.&#160; BUYERS, ON BEHALF OF THE BUYERS&#8217; INDEMNIFIED PARTIES, EXPRESSLY WAIVE ALL RIGHTS AFFORDED BY ANY STATUTE THAT LIMITS THE EFFECT OF A RELEASE WITH RESPECT TO UNKNOWN CLAIMS (OTHER THAN IN THE CASE OF FRAUD), ACKNOWLEDGE THAT THEY
              UNDERSTAND THE SIGNIFICANCE OF THIS RELEASE OF UNKNOWN CLAIMS (OTHER THAN IN THE CASE OF FRAUD) AND WAIVER OF STATUTORY PROTECTION AGAINST A RELEASE OF UNKNOWN CLAIMS (OTHER THAN IN THE CASE OF FRAUD), AND ACKNOWLEDGE AND AGREE THAT THIS
              WAIVER IS AN ESSENTIAL AND MATERIAL TERM OF THIS AGREEMENT.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46830583"></a><a name="z_Toc48978829"></a>11.6&#160;&#160;&#160;&#160;&#160;&#160; <u>Effect on Purchase Price</u>.&#160; Any payments made to a Buyers&#8217; Indemnified Party or a Sellers&#8217; Indemnified Party pursuant
              to this <u>Article XI</u> shall be treated as an adjustment to the Purchase Price for Tax purposes to the extent permitted by Law.</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-78-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46830708"></a><a name="z_Ref46830716"></a><a name="z_Toc48978830"></a>11.7&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Tax Matters</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46827612"></a>(a)&#160;&#160;&#160; &#160; &#160;&#160;&#160; <u>Allocation of Taxes</u>.&#160; In the case of any taxable period of any Target Company or any Target Subsidiary that includes (but does not end on)
              the Closing Date (a &#8220;<u>Straddle Period</u>&#8221;), the amount of any Taxes for the Target Companies and Target Subsidiaries for any Pre-Closing Tax Period shall be determined <a name="DocXTextRef351"></a>(i) as to income, receipts, Taxes imposed
              in connection with the provision of services or any sale or other transfer or assignment of property (other than Taxes described in <u>Section 11.7(f)</u>) or similar Taxes, based on an interim closing of the books as of the close of
              business on the Closing Date (and for such purpose, the taxable period of any partnership or other pass through entity, or any controlled foreign corporation, passive foreign investment company or similar entity, in which any Target Company
              or any Target Subsidiary holds a beneficial interest shall be deemed to terminate at such time, and <a name="DocXTextRef352"></a>Sections 706(a), <a name="DocXTextRef350"></a>951 and 951A of the Code (and any similar provisions of state,
              local or non-U.S. Tax Law) shall be applied accordingly), and (ii) as to all other Taxes, based on a daily proration, within the Straddle Period.&#160; For purposes of any Taxes determined based on a daily proration basis, the amount of such Taxes
              allocated to a Pre-Closing Tax Period shall be the full, actual amount of such Taxes multiplied by a fraction the numerator of which is the number of days in the Tax period ending on (and including) the Closing Date and the denominator of
              which is the number of days in the entire Straddle Period.&#160; Buyers and Sellers agree that if any Target Company or any domestic Target Subsidiary is permitted but not required under applicable foreign, state or local tax Laws to treat the
              Closing Date as the last day of a taxable period, Buyers and Sellers shall treat such day as the last day of a taxable period.&#160; Transactions of the Target Companies and Target Subsidiaries that occur on the Closing Date but after Closing and
              that do not occur in the ordinary course of business of any Target Company or any of its domestic Target Subsidiaries and are not contemplated by this Agreement or required by Law or by a Contract entered into by any of the Target Companies
              or Target Subsidiaries before Closing (and to which Buyers&#8217; Parent has not consented in writing) (&#8220;<u>Post&#8209;Closing Events</u>&#8221;) shall be considered to be attributable to the period that commences on the day following the Closing Date.&#160; To the
              extent permitted by applicable Tax Law, Buyers agree to report and cause to be reported all Post-Closing Events as occurring at the beginning of the day following the Closing Date.&#160; Reorganization Taxes of the Target Companies and Target
              Subsidiaries shall be considered to be attributable to Pre-Closing Tax Periods.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572318"></a>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Taxes and Tax Returns</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref46827518"></a>(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Sellers&#8217; Representative, at the expense of Sellers, shall prepare and file timely, or cause to be prepared and filed timely, in
              accordance with applicable Law all Tax Returns of the Target Companies and Target Subsidiaries for all Pre-Closing Tax Periods that end on or before the Closing Date (&#8220;<u>Pre-Closing Tax Returns</u>&#8221;).&#160; Sellers&#8217; Representative shall permit
              Buyers&#8217; Parent to review and comment on each Pre-Closing Tax Return at least 20 Business Days prior to the filing of such Pre&#8209;Closing Tax Return, in the case of income Tax Returns, and in such period of time prior to filing as Sellers&#8217;
              Representative shall reasonably determine to be practicable (but in any event at least ten Business Days prior to the filing of such Tax Returns) in the case of other Tax Returns. Buyers&#8217; Parent shall submit any comments within five Business
              Days of the due date of the applicable Pre-Closing Tax Return, or, if later, within eight Business Days of receiving a draft of such Pre-Closing Tax Return from Sellers&#8217; Representative, and Sellers&#8217; Representative shall consider such comments
              in good faith.&#160; To the extent that Sellers&#8217; Representative and Buyers&#8217; Parent are unable to agree on a matter in a Pre-Closing Tax Return, such matters shall be submitted to the Accounting Firm in accordance with <u>Section 11.7(b)(iii)</u>.&#160;






              All Pre-Closing Tax Returns shall be prepared and filed in a manner consistent with prior practice, except as required by applicable Tax Law.&#160; Sellers&#8217; Representative shall be responsible for (and shall pay or cause to be timely paid) any and
              all Taxes of the Target Companies and Target Subsidiaries attributable to all Pre&#8209;Closing Tax Periods, including to that portion of a Straddle Period ending on or before the Closing Date.&#160; In addition, Sellers&#8217; Parent, on behalf of Sellers,
              shall be responsible for (and shall pay or cause to be timely paid), and shall indemnify and hold harmless the Buyers&#8217; Indemnified Parties for Losses arising from or related to any Reorganization Taxes as set forth in <u>Section 11.2(a)(iv)</u>
              and against the following additional Tax matters:</div>
            <div style="text-align: justify;"> <br>
            </div>
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              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-79-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 108pt;"><a name="z_Ref47605717"></a>(A)&#160;&#160;&#160;&#160;&#160;&#160;&#160; any Taxes imposed by Governmental Authorities in Brazil or India in respect of the sale of the Tredegar Brasil Interests or
              Tredegar India Interests pursuant to this Agreement in excess of, as applicable, the Brazilian Withholding Tax Amount or the Indian Withholding Tax Amount (each, an &#8220;<u>Excess Withholding Tax Amount</u>&#8221;),</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 108pt;">(B)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any liability (including under Treasury Regulations Section 1.1502-6 and similar state, local and non-U.S. rules) of any of the Target Companies or Target
              Subsidiaries for Taxes as a result of being or having been a member of any consolidated, combined, unitary or other similar group in any Pre-Closing Tax Period, in each case, excluding any Taxes required to be settled directly by Sellers&#8217;
              Parent or any of its Affiliates (other than the Target Companies and Target Subsidiaries) with the applicable Governmental Authorities;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 108pt;"><a name="z_Ref48897205"></a>(C)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any liability arising out of or resulting from state income, franchise and gross receipts Taxes in states other than those set
              forth on <u>Annex 11.7(b)(i)(C)</u>;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 108pt;">(D)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any liability arising out of or resulting from Brazilian Taxes on revenues of Tredegar Brasil derived from services provided to any Seller, any Target
              Company or any other Affiliate of the foregoing;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 108pt;">(E)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any liability arising out of or resulting from any improper interest deductions of Tredegar India taken with respect to interest paid to associated
              enterprises that are not Tax residents of India; and</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 108pt;"><a name="z_Ref47601134"></a>(F)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any liability arising out of or resulting from Brazilian Taxes with respect to remittances and returns between Tredegar Brasil
              and its Brazilian warehouse branch.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref46827620"></a>(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Buyers&#8217; Parent, at the expense of Buyers, shall prepare and file timely, or cause to be prepared and filed timely, in accordance
              with applicable Law all Tax Returns for the Target Companies and Target Subsidiaries for all Straddle Periods (&#8220;<u>Straddle Tax Returns</u>&#8221;) and all Tax Returns for the Target Companies and Target Subsidiaries for all Post-Closing Tax
              Periods (&#8220;<u>Post-Closing Tax Returns</u>&#8221;); <u>provided</u>, <u>however</u>, that for the avoidance of doubt, all Tax deductions, refunds, credits and other similar benefits arising from Transaction Expenses (to the extent such Transaction
              Expenses are <a name="DocXTextRef356"></a>(1) expressly taken into account in the Final Adjustment Amount, <a name="DocXTextRef357"></a>(2) otherwise paid by a Target Company or Target Subsidiary on or prior to Closing, or <a name="DocXTextRef358"></a>(3) otherwise paid by Sellers or Sellers&#8217; Parent) shall be treated as arising on or before the Closing Date to the extent permitted under applicable Tax Law.&#160; Buyers&#8217; Parent shall be responsible for (and shall pay
              or cause to be timely paid) any and all Taxes of the Target Companies and Target Subsidiaries attributable to all Post-Closing Tax Periods, including to that portion of a Straddle Period beginning after the Closing Date, provided, for the
              avoidance of doubt, that Sellers&#8217; Parent, on behalf of Sellers, shall be shall be responsible for Taxes for which the Sellers&#8217; Parent has an indemnification obligation under this Agreement.&#160; All Straddle Tax Returns (to the extent that such
              Tax Returns are with respect to the Target Companies and Target Subsidiaries) shall be prepared and filed in a manner consistent with prior practice, except as required by applicable Tax Law.&#160; Buyers&#8217; Parent shall permit Sellers&#8217;
              Representative to review and comment on each Straddle Tax Return (or the allocable portions of such Straddle Tax Return that include the Target Companies and Target Subsidiaries) at least 20 Business Days prior to the filing of such Straddle
              Tax Return, in the case of income Tax Returns, and in such period of time prior to filing Buyers&#8217; Parent shall reasonably determine to be practicable (but in any event at least ten Business Days prior to the filing of such Tax Return) in the
              case of other Tax Returns, and Buyers&#8217; Parent shall consider in good faith any revisions to such Straddle Tax Return reasonably requested by Sellers&#8217; Representative, and shall pay the Tax shown as due on such Tax Return to the applicable
              Governmental Authority at the time such Tax Return is filed (and Sellers&#8217; Representative at that time shall pay Buyer an amount equal to the portion of such Tax for which the applicable Seller is responsible under <u>Section 11.7(b)(i)</u>).&#160;





              To the extent that Sellers&#8217; Representative and Buyers&#8217; Parent are unable to agree on a matter in a Straddle Tax Return that relates to a Pre-Closing Tax Period or a matter that would reasonably be expected to increase the Pre-Closing Taxes
              that Sellers are obligated to pay pursuant to this Agreement, such matters shall be submitted to the Accounting Firm in accordance with <u>Section 11.7(b)(iii)</u>.</div>
            <div>&#160;</div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-80-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref46830379"></a>(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; If Sellers&#8217; Representative and Buyers&#8217; Parent cannot agree as to any revisions of a Pre-Closing Tax Return or a Straddle Tax
              Return, then at least five Business Days prior to the filing date of such Tax Return (including applicable extensions) any disputed item shall be resolved (within a reasonable time, taking into account the deadline for filing such Tax Return)
              by the Accounting Firm.&#160; The resolution of such dispute by the Accounting Firm will <a name="DocXTextRef359"></a>(A) be set forth in writing, <a name="DocXTextRef360"></a>(B) be within the range of dispute between Buyers and Sellers, <a name="DocXTextRef361"></a>(C) constitute an arbitral award, and <a name="DocXTextRef362"></a>(D) absent fraud or manifest error, be conclusive and binding upon all the parties upon which a judgment may be rendered by a court having proper
              jurisdiction.&#160; Upon resolution of all disputed items, the relevant Tax Return shall be filed on that basis.&#160; Should the relevant Tax Return be due prior to resolution of all disputed items, <a name="DocXTextRef363"></a>(x) in the case of a
              Pre-Closing Tax Return, such Tax Return shall be timely filed by Buyers&#8217; Parent based on the position of Sellers&#8217; Representative, <a name="DocXTextRef364"></a>(y) in the case of a Straddle Tax Return, such Tax Return shall be timely filed
              based on the position of Buyers&#8217; Parent based on the position of Buyers, and <a name="DocXTextRef365"></a>(z) in each case, if necessary, Buyers&#8217; Parent shall file an amended Tax Return upon resolution of all disputed items. The costs, fees
              and expenses of the Accounting Firm shall be borne equally by Buyers and Sellers.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572319"></a>(iv)&#160;&#160;&#160; &#160;&#160;&#160; Buyers&#8217; Parent and Buyers shall not, and shall cause the Target Companies and Target Subsidiaries not to, amend a Pre-Closing Tax
              Return or a Straddle Tax Return without Sellers&#8217; Representatives&#8217; prior written consent, which consent shall not be unreasonably withheld, conditioned, or delayed, to the extent such amendment would reasonably be expected to increase the
              Pre-Closing Taxes that Sellers are obligated to pay pursuant to this Agreement.</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-81-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572320"></a>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Tax Sharing</u>.&#160; Any and all Tax sharing agreements or arrangements to which any of the Target Companies or Target Subsidiaries is a party shall
              be terminated as of the Closing Date, other than any Tax sharing agreements entered into in the ordinary course of business the principal purpose of which is not Taxes.&#160; After the Closing Date, no Target Company nor any of the Target
              Subsidiaries shall have any further rights or liabilities thereunder.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46830431"></a>(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Cooperation on Tax Matters</u>.&#160; Sellers&#8217; Representative and Buyers&#8217; Parent shall (and after Closing, Buyers&#8217; Parent and Buyers shall cause the
              Target Companies and Target Subsidiaries to) cooperate fully, as and to the extent reasonably requested by another party, in connection with the filing of Tax Returns pursuant to this <u>Section 11.7(d)</u> and any audit, litigation or other
              proceeding with respect to Taxes of any Target Company or any Target Subsidiary.&#160; Such cooperation shall include the retention (in accordance with the next sentence) and (upon the other party&#8217;s request) the provision of records and
              information that are reasonably relevant to any such audit, litigation or other proceeding and making employees and, as applicable, outside Tax advisors available on a mutually convenient basis to provide additional information and
              explanation of any material provided hereunder.&#160; Sellers&#8217; Representative and Buyers&#8217; Parent agree (and Buyers&#8217; Parent and Buyers shall cause the Target Companies and Target Subsidiaries) to retain all books and records with respect to Tax
              matters pertinent to any Target Company or any Target Subsidiary relating to any Pre-Closing Tax Period or Straddle Period until the expiration of the applicable statute of limitations (and, to the extent notified by Sellers&#8217; Representative
              or Buyers&#8217; Parent, any extensions thereof), and to abide by all record retention agreements entered into with any taxing authority.&#160; Sellers&#8217; Representative and Buyers&#8217; Parent shall (and Buyers&#8217; Parent and Buyers shall cause the Target
              Companies and Target Subsidiaries to), upon request, use commercially reasonable efforts to obtain any certificate or other document from any Governmental Authority or any other Person as may be necessary to mitigate, reduce or eliminate any
              Tax that could be imposed with respect to any Target Company or any Target Subsidiary or with respect to the transactions contemplated by this Agreement.&#160; Sellers&#8217; Representative and Buyers&#8217; Parent shall (and Buyers&#8217; Parent and Buyers shall
              cause the Target Companies and the Target Subsidiaries to), upon request, provide the other party with all information that may be required to report pursuant to Section 6043A of the Code or the Treasury Regulations promulgated thereunder
              with respect to the transactions contemplated by this Agreement.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46830479"></a>(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Contest Provisions</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref46827483"></a>(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In the event any Buyer, any Target Company or any Target Subsidiary receives notice of any pending or threatened Tax audit,
              assessment or other dispute concerning any Taxes for which Taxes any Seller or Seller Parent is required to provide indemnification pursuant to the indemnification provisions of this <u>Article XI</u> or any Taxes allocable to any
              Pre-Closing Period (any such audit, assessment or other dispute, a &#8220;<u>Contest</u>&#8221;), Buyers&#8217; Parent shall notify Sellers&#8217; Representative promptly of such Contest pursuant to a Notice of Claim; provided, however, that failure of Buyers&#8217;
              Parent to comply with this provision shall not affect Buyers&#8217; right to indemnification pursuant to this <u>Article XI</u> unless such failure materially adversely affects the ability of such Seller to challenge such Contest.</div>
            <div><br>
            </div>
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              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-82-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572321"></a>(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Sellers&#8217; Representative shall control any Contest that relates to any Pre-Closing Tax Period (other than the pre-Closing portion
              of a Straddle Period) , and shall be entitled to employ counsel of its choice at Sellers&#8217; Representative&#8217;s expense; <u>provided</u>, <u>however</u>, that Sellers&#8217; Representative shall keep Buyers&#8217; Parent reasonably informed of the details
              and status of such Contest and at Buyers&#8217; Parent&#8217;s request from time to time shall consult with Buyers&#8217; Parent as to the conduct of and strategy for such Contest, and, at Buyers&#8217; Parent&#8217;s expense, provide Buyers&#8217; Parent with copies of all
              written material correspondence regarding such Contest; and provided further that Sellers&#8217; Representative shall not compromise, resolve or settle, either administratively or after the commencement of litigation, any such Contest in a manner
              that would result in liability of a Buyers&#8217; Indemnified Party for a Tax for which such Buyers&#8217; Indemnified Party is not entitled to receive indemnification under this <u>Article XI</u>, without the prior written consent of Buyers&#8217; Parent
              (such consent not to be unreasonably withheld, conditioned or delayed).&#160; If Sellers&#8217; Representative fails to assume control of the conduct of any such Contest within a reasonable period following the receipt by Buyers&#8217; Parent of notice of
              such Contest, Buyers&#8217; Parent shall have the right to assume control of such Contest; <u>provided</u>, however, that <a name="DocXTextRef366"></a>(1) Sellers&#8217; Representative shall have the right to participate (at its own expense) in, but
              not direct, any such Contest and (2) Buyers&#8217; Parent shall keep Sellers&#8217; Representative reasonably informed of the details and status of such Contest and at Sellers&#8217; Representative&#8217;s request from time to time shall consult with Sellers&#8217;
              Representative as to the conduct of and strategy for such Contest and, at Sellers&#8217; Representative&#8217;s expense, provide Sellers&#8217; Representative with copies of all written material correspondence regarding such Contest; <u>provided</u>&#160;<u>further</u>
              that Buyers&#8217; Parent shall not compromise, resolve or settle, either administratively or after the commencement of litigation, any such Contest without the prior written consent of Sellers&#8217; Representative, such consent not to be unreasonably
              withheld, conditioned or delayed.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572322"></a>(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Buyers&#8217; Parent shall control any Contest that relates to any Straddle Period and shall be entitled to employ counsel of its choice
              at its expense; provided, that, to the extent such Contest concerns Taxes for which any Seller or Sellers&#8217; Parent is required to provide indemnification pursuant to the indemnification provisions of this <u>Article XI</u> or would reasonably
              be expected to increase the Pre-Closing Taxes that Sellers are obligated to pay pursuant to this Agreement, <a name="DocXTextRef368"></a>(x) Sellers&#8217; Representative shall have the right to participate (at its own expense) in, but not direct,
              any such Contest; and <a name="DocXTextRef369"></a>(y) Buyers&#8217; Parent shall keep Sellers&#8217; Representative reasonably informed of the details and status of such Contest and at Sellers&#8217; Representative&#8217;s request from time to time shall consult
              with Sellers&#8217; Representative as to the conduct of and strategy for such Contest and, at Sellers&#8217; Representative&#8217;s expense, provide Sellers&#8217; Representative with copies of all written material correspondence regarding such Contest.&#160;
              Notwithstanding the foregoing, Buyers&#8217; Parent shall not be entitled to compromise, resolve or settle, either administratively or after the commencement of litigation, any such Contest in a manner that would increase the liability for Taxes of
              any Seller without the prior written consent of Sellers&#8217; Representative, which consent shall not be unreasonably conditioned, withheld or delayed; provided, however, that such consent shall not be required to the extent that Buyers&#8217; Parent or
              a Buyer directly pays such additional amounts owed by the other party, if any, and agrees in writing with the other party not to seek indemnity from the other party against the effects of such settlement.&#160; If Buyers&#8217; Parent fails to assume
              control of the conduct of any such Contest within a reasonable period following the receipt by Sellers&#8217; Representative of notice of such Contest, Sellers&#8217; Representative shall have the right to assume control of such Contest; provided,
              however, that <a name="DocXTextRef367"></a>(1) Buyers&#8217; Parent shall have the right to participate (at its own expense) in, but not direct, any such Contest and (2) Sellers&#8217; Representative shall keep Buyers&#8217; Parent reasonably informed of the
              details and status of such Contest and at Buyers&#8217; Parent&#8217;s request from time to time shall consult with Buyers&#8217; Parent as to the conduct of and strategy for such Contest; provided further that Sellers&#8217; Representative shall not compromise,
              resolve or settle, either administratively or after the commencement of litigation, any such Contest without the prior written consent of Buyers&#8217; Parent, such consent not to be unreasonably withheld, conditioned or delayed.</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-83-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572323"></a>(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To the extent that it conflicts with <u>Section 11.3(b)</u>, the provisions of this <u>Section 11.7(e)</u> shall control with
              respect to all Contests.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46830350"></a>(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Transfer Taxes and Fees</u>.&#160; All transfer, documentary, sales, use, real property transfer, stamp, registration and other such Taxes and all
              conveyance fees, recording charges and other fees and charges (including, as to any such Taxes, fees, or charges, any penalties and interest) incurred by Buyers, any Target Company or any Target Subsidiary in connection with the consummation
              of the transactions contemplated by this Agreement (other than Reorganization Taxes) shall be borne 50% by Buyers and 50% by Sellers.&#160; Buyers&#8217; Parent and Sellers&#8217; Representative shall file, or cause to be filed, all necessary Tax Returns and
              other documentation with respect to all Taxes described in this <u>Section 11.7(f)</u> and, if required by Law, they shall cause the applicable Seller or Buyer and their applicable Affiliates to, join in the execution of any such Tax Return
              and other documentation.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46827642"></a>(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Purchase Price Allocation</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref46830520"></a>(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Purchase Price (and all other capitalized costs) shall be allocated among the Target Companies and the portions thereof
              allocated to TFP and Tredegar Brasil shall be allocated among their assets, respectively, and the assets of any of the Target Subsidiaries of TFP or Tredegar Brasil that are formed under U.S. law and are disregarded entities for U.S. federal
              income tax purposes in accordance with Section 1060 of the Code and the Treasury Regulations promulgated thereunder (and any similar provisions of state, local or foreign Law, as appropriate), pursuant to the provisions of this <u>Section
                11.7(g)</u> (the &#8220;<u>Purchase Price Allocation</u>&#8221;).&#160; A draft of the Purchase Price Allocation shall be prepared by Buyers&#8217; Parent and delivered to Sellers&#8217; Representative within 60 days following the Closing Date.&#160; If Sellers&#8217;
              Representative notifies Buyers&#8217; Parent in writing within 30 days following the receipt of such Purchase Price Allocation that Sellers&#8217; Representative objects to one or more items reflected in such draft of the Purchase Price Allocation,
              Sellers&#8217; Representative and Buyers&#8217; Parent shall negotiate in good faith to resolve such dispute; provided, however, that if Sellers&#8217; Representative and Buyers&#8217; Parent are unable to resolve any dispute with respect to the Purchase Price
              Allocation within 60 days following Sellers&#8217; Representative&#8217;s delivery of such notice, such dispute shall be resolved by the Accounting Firm.&#160; The fees and expenses of the Accounting Firm shall be borne equally by Sellers and Buyers.&#160; Buyers,
              Sellers and their Affiliates shall file Tax Returns (including, but not limited to, IRS Form 8594) in all respects and for all purposes consistent with the Purchase Price Allocation as determined pursuant to this <u>Section 11.7(g)</u>.&#160; Any
              adjustment to the Purchase Price pursuant to <u>Section 11.6</u> shall be allocated in a manner consistent with the Purchase Price Allocation.&#160; For the avoidance of doubt, any document prepared for purposes of allocating the Purchase Price
              for non-U.S. tax purposes (including any PPA report or other similar document) shall not impact the Purchase Price Allocation. Buyers&#8217; Parent, Sellers&#8217; Representative and their respective Affiliates shall not take any position (whether in an
              audit, Tax Return or otherwise) that is inconsistent with the Purchase Price Allocation unless otherwise required to do so by applicable Law.&#160; The provisions of this <u>Section 11.7(g)</u> will survive post&#8209;Closing indefinitely.&#160;
              Notwithstanding anything to the contrary contained in this Agreement, the portion of the Purchase Price allocated to the Tredegar India Interests shall be consistent with the Purchase Price (in this instance, as defined in the Tredegar India
              Interests Purchase Agreement) under the Tredegar India Interests Purchase Agreement on the basis of which the Indian Tax Withholding Amount will be computed and withheld, and such portion of the Purchase Price allocated to Tredegar India
              Interests will not be subject to any adjustments as provided under <u>Section 2.3</u>.&#160; Further, Buyers&#8217; Parent agrees that it will allocate the same amount towards the Tredegar India Interests for the purposes of Purchase Price Allocation
              under this <u>Section 11.7(g)</u> and will not deviate therefrom.</div>
            <div><br>
            </div>
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              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-84-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572324"></a>(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; From the date hereof through the Closing Date, to the extent necessary to prepare bills of sale, transfer agreements or to
              otherwise timely comply with the requirements of applicable Law in respect of the sale of the Interests at the Closing, Sellers&#8217; Representative and Buyer agree to cooperate in good faith to allocate, the Estimated Purchase Price among the
              Sellers and/or the Interests.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572325"></a><a name="z_Ref46830610"></a>(h)&#160;&#160;&#160; &#160; &#160;&#160; <u>Tax Refunds</u>.&#160; Any refund (including any interest paid or credited by a Governmental Authority with respect
              thereto) of Taxes paid by any Target Company or Target Subsidiary with respect to any Pre-Closing Tax Period (including the pre-Closing portion of any Straddle Period) that are <a name="DocXTextRef370"></a>(i) taken into account as a
              liability in the computation of the Final Adjustment Amount, (ii) otherwise paid by a Target Company or Target Subsidiary on or prior to Closing, or (iii) otherwise paid by Sellers or Sellers&#8217; Parent, shall be solely the property of Sellers
              and any such amounts payable to Sellers pursuant to this <u>Section 11.7(h)</u> shall be paid to Sellers (and any material correspondence related thereto shall be provided), net of any Taxes and other costs and expenses attributable to
              obtaining or to the receipt or accrual of such refund, within ten days after receipt of a cash payment of such Tax refund by the applicable Target Company or Target Subsidiary from the applicable Governmental Authority or the Target Company&#8217;s
              or Target Subsidiary&#8217;s credit or setoff of such refund against a Tax otherwise then due and payable by the Target Company or Target Subsidiary to the applicable Governmental Authority.</div>
            <div><br>
            </div>
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              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-85-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572326"></a>(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Indian Withholding Tax Amount</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572327"></a>(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;As promptly as practicable after the date of this Agreement (and in any event at least 20 Business Days before the Closing Date ),
              Sellers&#8217; Representative shall provide to Buyers&#8217; Parent a report of internationally recognized Indian tax advisors expert in such matters setting forth in reasonable detail, and with appropriate supporting documentation and calculations, Far
              East&#8217;s tax basis and holding period in the Tredegar India Interests, the amount of Far East&#8217;s gain with respect to the sale of such Interests pursuant to this Agreement, and the amount of Tax that will be imposed under the Republic of India
              Income Tax Act, 1961 in respect of such sale, each computed in accordance with the provisions (including section 50CA) of the Republic of India Income Tax Act, 1961 (such report, the &#8220;<u>Indian Tax Report</u>&#8221;).&#160; The Indian Tax Report shall
              include an independent valuation report determining fair market value of equity shares of Tredegar India as per internationally recognized method for the purposes of the Republic of India Income Tax Act, 1961, and a valuation that indicates
              the expected value of the Tredegar India Interests as per Section 56(2)(x) and 50CA of the Republic of India Income Tax Act, 1961 and related Rules 11U, 11UA and 11UAA of the Income Tax Rules, 1962 applied on a reasonable basis).&#160; Following
              the delivery of such report, (x) Sellers&#8217; Representative shall, and shall cause the advisors that prepared the Indian Tax Report to, cooperate in a commercially reasonable manner with Buyers&#8217; Parent and its Indian tax advisors to promptly
              provide additional information, answer questions and consult regarding the Indian Tax Report as reasonably requested by Buyers&#8217; Parent and its Indian tax advisors, (y) Sellers&#8217; Representative shall cause such advisors to make any revisions or
              additions to those reports as may be reasonably requested by Buyers&#8217; Parent, and (z) Sellers&#8217; Representative and Buyers&#8217; Parent shall use commercially reasonable good faith efforts to agree on the amount of Tax imposed under the Laws of the
              Republic of India, computed in accordance with the Indian Tax Report as the same may be revised pursuant to clause (y). If, at least three Business Days before the Closing Date, Sellers&#8217; Representative and Buyers&#8217; Parent have agreed in
              writing on such amount of Tax, then such agreed upon amount shall be the Indian Withholding Tax Amount, and Miramar shall withhold such amount from the consideration payable to Far East in respect of the Tredegar India Interests under this
              Agreement on the Closing Date and pay over such withheld amount to the Indian Governmental Authorities responsible for taxation.&#160; If Sellers&#8217; Representative and Buyers&#8217; Parent have not entered into such a written agreement at least three
              Business Days before the Closing Date, then Miramar shall withhold from the consideration payable to Far East in respect of the Tredegar India Interests under this Agreement such amount of Tax imposed under the Laws of the Republic of India
              as Sellers&#8217; Representative, based on advice of Sellers&#8217; Parent&#8217;s Indian tax advisor expert in these matters, determines Miramar is required to withhold (which amount shall be the Indian Withholding Tax Amount for purposes of this Agreement),
              and Miramar shall pay over such withheld amount to the Indian Governmental Authorities responsible for taxation.&#160; For the avoidance of doubt, any amount withheld by Miramar pursuant to this <u>Section 11.7(i)</u> and paid to the Indian tax
              authorities shall be considered to have been paid by Miramar to Far East. Buyers&#8217; Parent shall deliver to Sellers&#8217; Representative evidence of the payment of the Indian Withholding Tax Amount to the proper Indian Governmental Authorities.&#160; In
              the event Miramar is required to pay any Excess Withholding Tax Amount in respect of the sale of the Tredegar India Interests pursuant to this Agreement, Miramar shall be entitled to be indemnified for such Taxes pursuant to <u>Section
                11.7(b)(i)(A)</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572328"></a>(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Miramar agrees to take all reasonable action necessary to enable Far East to claim a Tax credit in the amount of the Indian
              Withholding Tax Amount including <a name="DocXTextRef374"></a>(A) depositing the Indian Withholding Tax Amount with the applicable Indian Governmental Authority responsible for taxation, <a name="DocXTextRef375"></a>(B) filing a withholding
              Tax Return and <a name="DocXTextRef376"></a>(C) issuing a withholding tax certificate to Far East, in accordance with and within the prescribed due dates under the Republic of India Income Tax Act, 1961.</div>
            <div><br>
            </div>
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              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-86-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46826895"></a>(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Brazilian Withholding Tax Amount</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572329"></a>(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;As promptly as practicable after the date of this Agreement (and in any event at least 20 Business Days before the Closing Date),
              Sellers&#8217; Representative shall provide to the Buyers&#8217; Parent a report of internationally recognized Brazilian tax advisors expert in such matters setting forth in reasonable detail, and with appropriate supporting documentation and
              calculations, LatAm&#8217;s and Investments&#8217; tax basis and holding period in the Tredegar Brasil Interests owned by each of them, the amount of LatAm&#8217;s and Investments&#8217; gain with respect to the sale of such Interests pursuant to this Agreement, and
              the amount of Tax that will be imposed under the Laws of the Federative Republic of Brazil in respect of such sale, each computed in accordance with the Tax Laws of the Federative Republic of Brazil (such report, the &#8220;<u>Brazilian Tax Report</u>&#8221;).&#160;





              Following the delivery of such reports, <a name="DocXTextRef377"></a>(x) Sellers&#8217; Representative shall, and shall cause the advisors that prepared the Brazilian Tax Report to, cooperate in a commercially reasonable manner with Buyers&#8217; Parent
              and its Brazilian tax advisors to promptly provide additional information, answer questions and consult regarding the Brazilian Tax Report as reasonably requested by Buyers&#8217; Parent and its Brazilian tax advisors, <a name="DocXTextRef378"></a>(y)





              Sellers&#8217; Representative shall cause such advisors to make any revisions or additions to those reports as may be reasonably requested by Buyers&#8217; Parent, and <a name="DocXTextRef379"></a>(z) Sellers&#8217; Representative and Buyers&#8217; Parent shall use
              commercially reasonable good faith efforts to agree on the amount of Tax imposed under the Laws of the Federative Republic of Brazil, computed in accordance with the Brazilian Tax Report as the same may be revised pursuant to clause (y).&#160; If,
              at least three Business Days before the Closing Date, Sellers&#8217; Representative and Buyers&#8217; Parent have agreed in writing on such amount of Tax, then such agreed upon amount shall be the Brazilian Withholding Tax Amount, and Fitesa Brazil shall
              withhold such amount from the consideration payable to Sellers under this Agreement on the Closing Date and pay over such withheld amount to the applicable Brazilian Governmental Authorities responsible for taxation.&#160; If Sellers&#8217;
              Representative and Buyers&#8217; Parent have not entered into such a written agreement at least three Business Days before the Closing Date, then Fitesa Brazil shall withhold from the consideration payable to Sellers under this Agreement such
              amount of Tax imposed under the Laws of the Federative Republic of Brazil as Sellers&#8217; Parent, based on advice of Sellers&#8217; Parent&#8217;s Brazilian tax advisor expert in these matters, determines is required to be withheld (which amount shall be the
              Brazilian Withholding Tax Amount for purposes of this Agreement), and Fitesa Brazil shall pay over such withheld amount to the Brazilian Governmental Authorities responsible for taxation.&#160; For the avoidance of doubt, any amount withheld by
              Buyer pursuant to this <u>Section 11.7(k)</u> and paid to the Brazilian Tax Authorities shall be considered to have been paid by Fitesa Brazil to Sellers.&#160; In the event Fitesa Brazil is required to pay any Excess Withholding Tax Amount in
              respect of the sale of the Tredegar Brasil Interests pursuant to this Agreement, Fitesa Brazil shall be entitled to be indemnified for such Taxes pursuant to <u>Section 11.7(b)(i)(A)</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572330"></a>(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Fitesa Brazil agrees to pay the Brazilian Withholding Tax Amount to the applicable Brazilian Governmental Authority responsible
              for taxation and to take all reasonable action necessary to support Buyers in connection with any claims or other proceedings related to the Brazilian Withholding Tax Amount.</div>
            <div><br>
            </div>
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              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-87-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46826809"></a>(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>VAT Matters</u>.&#160; Sellers agree to take all reasonable actions necessary, if any, to ensure that from and after the Closing Date, each Target
              Company or Target Subsidiary that has been a member of a group of companies that also includes any Seller or Affiliate, if any, such Seller for VAT purposes will be excluded from the relevant VAT group.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572331"></a>(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Survival</u>.&#160; Notwithstanding anything in this Agreement to the contrary, this <u>Section 11.7</u> shall survive until the 30th day following
              the expiration of all statutes of limitation (taking into account any waivers or extensions thereof) for the assessment, assertion or imposition of the Taxes addressed in this <u>Section 11.7</u>.</div>
            <div>&#160;</div>
            <div style="text-align: center;"><a name="z_Toc48978831"></a>ARTICLE XII</div>
            <div style="text-align: center;"><br>
            </div>
            <div style="text-align: center;"><a name="z_Ref46826219"></a><u>MISCELLANEOUS</u></div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572332"></a><a name="z_Toc48978832"></a>12.1&#160;&#160;&#160;&#160;&#160;&#160; <u>Appointment of Sellers&#8217; Representative</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572333"></a>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;By the execution and delivery of this Agreement, Sellers irrevocably constitute and appoint Sellers&#8217; Representative as their respective
              representative true and lawful agent and attorney-in-fact hereunder with full power of substitution to act in the name, place and stead of Sellers (and of each of them) <a name="DocXTextRef381"></a>(1) subject to the Laws applicable to the
              Interests, with respect to the transfer of the Interests in accordance with the terms and provisions of this Agreement; <a name="DocXTextRef382"></a>(2) to act on behalf of Sellers (and each of them) in any litigation, arbitration or other
              action or proceeding under this Agreement or otherwise arising out of the transactions contemplated hereby, and (3) to do or refrain from doing all such further acts and things and to execute all documents and instruments, in each case, as
              Sellers&#8217; Representative shall deem necessary or appropriate in connection with the transactions contemplated by this Agreement.&#160; The power of Sellers&#8217; Representative under the foregoing appointment will include the power:</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572334"></a>(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to act for Sellers with regard to matters pertaining to indemnification referred to in this Agreement, including the power to
              compromise any indemnity claim hereunder on behalf of Sellers (or any of them) and to transact matters of any arbitration, litigation, action or other proceeding hereunder;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572335"></a>(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to act for Sellers in connection with the negotiation and finalization of the Closing Statement and the Final Adjustment Amount,
              including all matters with respect to the Accounting Firm, if an Accounting Firm is retained pursuant to <u>Section 2.3(b)</u>;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572336"></a>(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to execute and deliver any and all ancillary agreements, certificates, instrument and documents that Sellers&#8217; Representative
              deems necessary or appropriate in connection with the consummation of the transactions contemplated hereby;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572337"></a>(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to enter into one or more amendments to this Agreement or to waive one or more failure of Buyers to comply with any obligation,
              covenant, agreement or condition contained in this Agreement;</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572338"></a>(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;to do or refrain from doing any further act or deed on behalf of Sellers that Sellers&#8217; Representative deems necessary or
              appropriate in its sole discretion relating to the subject matter of this Agreement as fully and completely as Sellers could do if personally present or acting; and</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-88-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: justify; text-indent: 108pt; margin-left: 36pt;"><a name="z_Ref47572339"></a>(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to receive notices and service of process in connection with any claims or proceedings arising under or in connection with this
              Agreement or the transactions contemplated hereby.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572340"></a>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The appointment herein of Sellers&#8217; Representative shall be deemed coupled with an interest and shall be irrevocable, and Buyers and any other Person
              may conclusively and absolutely rely, without inquiry, upon any decision, act, consent or instruction of Sellers&#8217; Representative on behalf of Sellers in any and all matters referred to in this Agreement (including any and all matters with
              respect to the Escrow Agreement).&#160; All notices required to be made or delivered by Sellers to Buyers shall be made to Sellers&#8217; Representative for the benefit of Sellers, and the making or delivery thereof shall discharge in full all notice
              requirements of Sellers to Buyers with respect thereto.&#160; Sellers&#8217; Representative shall act for Sellers on all of the matters set forth in this Agreement in the manner Sellers&#8217; Representative believes to be in the best interest of Sellers and
              consistent with obligations under this Agreement, but Sellers&#8217; Representative shall not be responsible to Sellers (or any of them) for any loss or damages any Seller may suffer by the performance by Sellers&#8217; Representative of its duties under
              this Agreement, other than loss or damage found by the final judgment of a court of competent jurisdiction or arbitrator (through binding arbitration) to arise from Sellers&#8217; Representative&#8217;s willful violation of the law or this Agreement or
              its bad faith in connection with its duties under this Agreement.&#160; All decisions and actions by Sellers&#8217; Representative (to the extent authorized by this Agreement) shall be binding upon all Sellers, and no Seller shall have the right to
              object, dissent, protest or otherwise contest the same.&#160; Sellers&#8217; Representative shall be entitled to engage such counsel, experts, consultants and other advisors and representatives as he shall deem necessary in connection with exercising
              its powers and performing its functions hereunder and (in the absence of bad faith on the part of Sellers&#8217; Representative) shall be entitled to conclusively rely on the opinions and advice of any of such Persons.&#160; Sellers&#8217; Representative may
              (but need not) consult with any Seller in connection with Sellers&#8217; Representative&#8217;s exercise of its powers and performing of its functions hereunder, and each Seller shall cooperate with and offer reasonable assistance to Sellers&#8217;
              Representative in connection with any of such exercise or performance.&#160; Sellers&#8217; Representative will have no liability to Buyers, the Target Companies, any Target Subsidiary or Sellers with respect to actions taken or omitted to be taken
              solely in its capacity as Sellers&#8217; Representative, except with respect to any liability resulting from Sellers&#8217; Representative fraud, intentional misconduct or intentional misrepresentation.&#160; Sellers&#8217; Representative will at all times be
              entitled to rely on any directions received from Sellers.&#160; In addition, each Seller shall defend and indemnify Sellers&#8217; Representative and hold Sellers&#8217; Representative harmless from against any loss arising out of or in connection with the
              acceptance or administration of Sellers&#8217; Representative&#8217;s duties hereunder, other than loss or damage found by the final judgment of a court of competent jurisdiction or arbitrator (through binding arbitration) to arise from Sellers&#8217;
              Representative&#8217;s willful violation of the law or this Agreement or its bad faith in connection with its duties under this Agreement.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572341"></a>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Sellers&#8217; Representative will not be entitled to any fee, commission, or other compensation for the performance of its services as Sellers&#8217;
              Representative.</div>
            <div><br>
            </div>
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              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-89-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572342"></a><a name="z_Toc48978833"></a>12.2&#160;&#160;&#160;&#160;&#160; <u>Expenses</u>.&#160; Except as otherwise expressly provided herein, including by <u>Section 7.4(d)(iii)</u>, Sellers, on the
              one hand, and Buyers, on the other hand, shall each pay all of their own expenses (including attorneys&#8217; and accountants&#8217; fees, costs and expenses) in connection with the negotiation of this Agreement, the performance of their obligations
              hereunder and the consummation of the transactions contemplated by this Agreement.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572343"></a><a name="z_Toc48978834"></a>12.3&#160;&#160;&#160;&#160;&#160;&#160; <u>Amendment</u>.&#160; This Agreement may not be amended except by an instrument in writing signed by Buyers&#8217; Parent and
              Sellers&#8217; Representative on behalf of all parties hereto.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572344"></a><a name="z_Toc48978835"></a>12.4&#160;&#160;&#160;&#160;&#160;&#160; <u>Entire Agreement</u>.&#160; This Agreement, the <a name="DocXTextRef383"></a>Schedules and Exhibits and any documents
              executed by the parties simultaneously herewith or pursuant hereto, contain all of the terms, conditions and representations and warranties agreed to by the parties relating to the subject matter of this Agreement and supersede all other
              prior and contemporaneous agreements, negotiations, correspondence, undertakings and communications of the parties or their representatives, oral or written, respecting such subject matter.&#160; In the event of any conflict between the terms of
              this Agreement and the terms of any agreement, instrument or document delivered hereunder, the terms of this Agreement shall prevail.&#160; No party hereto shall, or permit its Affiliates to, enforce or attempt to enforce, or otherwise use or
              introduce into evidence, the terms of any such ancillary agreement in any manner which could challenge, question or impair the validity or enforceability of this Agreement or any such ancillary agreement, or, in each case, any terms hereof or
              thereof.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46830789"></a><a name="z_Ref46830842"></a><a name="z_Ref46830851"></a><a name="z_Toc48978836"></a>12.5&#160;&#160;&#160; &#160;&#160; <u>Notices</u>.&#160; All notices, requests, consents, claims, demands,
              waivers and other communications hereunder shall be in writing and shall be deemed to have been given:&#160; <a name="DocXTextRef384"></a>(a) when delivered by hand (with written confirmation of receipt); <a name="DocXTextRef385"></a>(b) when
              received by the addressee if sent by an overnight courier (receipt requested); <a name="DocXTextRef386"></a>(c) on the date sent by facsimile or e&#8209;mail of a PDF document (with confirmation of transmission) if sent during normal business
              hours of the recipient, and on the next Business Day if sent after normal business hours of the recipie<a name="z_Ref47572388"></a>nt; or <a name="DocXTextRef387"></a>(d) on the third (3rd) day after the date mailed, by certified or
              registered mail, return receipt requested, postage prepaid.&#160; Such communications must be sent to the respective parties to this Agreement at the following addresses (or at such other address for a party as shall be specified in a notice given
              in accordance with this <u>Section 12.5</u>):</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 36pt;">If to Buyers&#8217; Parent (on behalf of Buyers), to:</div>
            <div>&#160;</div>
            <div style="margin-left: 108pt;">Fitesa S.A.</div>
            <div style="margin-left: 108pt;">Rua Siqueira Campos, 1163 - 7&#186; andar</div>
            <div style="margin-left: 108pt;">Centro Hist&#243;rico Porto Alegre &#8211; RS 90010-001, Brazil</div>
            <div style="margin-left: 108pt;">Attention:&#160;&#160;&#160;&#160; Lavinia Leite</div>
            <div style="margin-left: 108pt;">Email:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;lleite@fitesa.com</div>
            <div style="margin-left: 108pt;">Facsimile:&#160;&#160;&#160; +55 51 3287 6330</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 36pt;">with a copy (which shall not constitute notice) to:</div>
            <div>&#160;</div>
            <div style="margin-left: 108pt;">Clifford Chance LLP</div>
            <div style="margin-left: 108pt;">Rua Funchal <a name="DocXTextRef388"></a>418 - 15&#186; andar</div>
            <div style="margin-left: 108pt;">04551-060, S&#227;o Paulo - SP, Brazil</div>
            <div style="margin-left: 108pt;">Attention:&#160;&#160;&#160;&#160; Anthony Oldfield</div>
            <div style="margin-left: 108pt;">Email:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Anthony.Oldfield@CliffordChance.com</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-90-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: justify; text-indent: 36pt;">If to Sellers&#8217; Representative, to:</div>
            <div>&#160;</div>
            <div style="margin-left: 108pt;">Tredegar Corporation</div>
            <div style="margin-left: 108pt;">1100 Boulders Parkway</div>
            <div style="margin-left: 108pt;">Richmond, VA&#160; 23225</div>
            <div style="margin-left: 108pt;">Attention:&#160;&#160; General Counsel</div>
            <div style="margin-left: 108pt;">Email:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; michael.schewel@tredegar.com</div>
            <div style="margin-left: 108pt;">Facsimile:&#160;&#160; +1 (804) 330-1201</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 36pt;">with a copy (which shall not constitute notice) to;</div>
            <div>&#160;</div>
            <div style="margin-left: 108pt;">Tredegar Corporation</div>
            <div style="margin-left: 108pt;">1100 Boulders Parkway</div>
            <div style="margin-left: 108pt;">Richmond, VA&#160; 23225</div>
            <div style="margin-left: 108pt;">Attention:&#160;&#160;&#160;&#160; Patricia Thomas</div>
            <div style="margin-left: 108pt;">Email:&#160; pat.thomas@tredegar.com</div>
            <div style="margin-left: 108pt;">Facsimile:&#160;&#160;&#160; +1 (804) 330-1010</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 36pt;">with a copy (which shall not constitute notice) to:</div>
            <div>&#160;</div>
            <div style="margin-left: 108pt;">Hunton Andrews Kurth LLP</div>
            <div style="margin-left: 108pt;">Riverfront Plaza, East Tower</div>
            <div style="margin-left: 108pt;">951 East Byrd Street</div>
            <div style="margin-left: 108pt;">Richmond, VA&#160; 23219-4074</div>
            <div style="margin-left: 108pt;">Attention:&#160;&#160;&#160;&#160;&#160; Brian L. Hager and Rachel W. Northup</div>
            <div style="margin-left: 108pt;">E-mail:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;bhager@hunton.com and rnorthup@hunton.com</div>
            <div style="margin-left: 108pt;">Facsimile:&#160;&#160;&#160;&#160; +1 (804) 788-8218</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572345"></a><a name="z_Toc48978837"></a>12.6&#160;&#160;&#160;&#160;&#160;&#160; <u>Waiver</u>.&#160; Any right hereunder may be waived only by a written instrument signed by Sellers&#8217; Representative if any
              Seller is the waiving party or by Buyers&#8217; Parent if any Buyer is the waiving party.&#160; The failure of a party to insist, in any one or more instances, upon performance of the terms of this Agreement will not be construed as a waiver or
              relinquishment of any right granted hereunder or of the future performance of any such term.&#160; No waiver on the party of any party of any right, power or privilege, nor any single or partial exercise of any such right, power, or privilege,
              will preclude any further exercise thereof or the exercise of any other such right, power, or privilege.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572346"></a><a name="z_Toc48978838"></a>12.7&#160;&#160;&#160;&#160;&#160;&#160; <u>Binding Effect; Assignment</u>.&#160; This Agreement shall be binding upon and inure to the benefit of the parties and their
              respective successors and assigns.&#160; This Agreement is not assignable by any party without the prior written consent of the other parties; <u>provided</u>, <u>however</u>, that any Buyer may assign all or any portion of its rights hereunder,
              including its right to acquire any of the Interests, to any Affiliate of Buyers&#8217; Parent, without the consent of any of the other parties hereto; <u>provided</u>&#160;<u>further</u> that no such assignment shall relieve the assigning Buyer from
              its obligations under this Agreement), and Buyers&#8217; Parent may cause all or any portion of the Purchase Price to be paid to Sellers by one or more of Buyers Parents&#8217; Affiliates.</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-91-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572347"></a><a name="z_Toc48978839"></a>12.8&#160;&#160;&#160; &#160;&#160; <u>No Third Party Beneficiary</u>.&#160; Nothing in this Agreement shall confer any rights, remedies or claims upon any Person
              not a party or a permitted assignee of a party to this Agreement, except as set forth in <u>Section 7.7</u> (Indemnification of Officers and Directors), <u>Article XI</u> (Survival and Indemnification), <u>Section 12.12</u>
              (Attorney-Client Privilege and Conflict Waiver) and <u>Section 12.13</u> (Non-Recourse).</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572348"></a><a name="z_Toc48978840"></a>12.9&#160;&#160;&#160;&#160;&#160;&#160; <u>Governing Law</u>.&#160; Pursuant to New York General Obligations Law, Section 5-1401, this Agreement and all claims or
              causes of action (whether in contract or tort) that may be based upon, arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement (including any claim or cause of action based upon, arising out of
              or related to any representation or warranty made in or in connection with this Agreement or as an inducement to enter into this Agreement), shall be governed by the Laws of the State of New York, without regarding to any applicable
              principles of conflicts of law that might require the application of the Laws of another jurisdiction.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46830111"></a><a name="z_Toc48978841"></a>12.10&#160;&#160;&#160;&#160; <u>Consent to Jurisdiction and Service of Process</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46830880"></a>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Pursuant to New York General Obligations Law, Section 5-1402, each of the parties hereto hereby irrevocably submits to the exclusive jurisdiction of
              any federal or state court located within the Borough of Manhattan in New York, New York, over any dispute arising out of or relating to this Agreement or any of the transaction documents or any of the other transactions hereby or thereby,
              and each party hereby irrevocably agrees that all claims in respect of such dispute or any suit, action proceeding related thereto may be heard and determined in (and only in) such courts. Each of the parties hereby irrevocably waives, to the
              fullest extent permitted by Law, any objection which it may now or hereafter have to the laying of venue of any such dispute brought in any such court or any defense of inconvenient or otherwise inappropriate forum for the maintenance of such
              dispute. Each of the parties hereto agrees that a judgment of any such court in any such dispute may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref47572349"></a>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Without limiting the foregoing, Sellers&#8217; Representative agrees that service of process on its as provided in <u>Section 12.5</u> shall be deemed
              effective service of process.&#160; Buyers&#8217; Parent irrevocably designates, appoints and empowers Fitesa Simpsonville Inc., 840 SE Main Street, Simpsonville, SC 29681 or such other address where such representative office may be located in the
              State of New York, and its successors and assigns, as its true and lawful agent for service of process to receive and accept on its behalf service of process only with respect to any Actions arising out of or relating to the Agreement and the
              transactions contemplated by this Agreement and for no other purpose.&#160; Failure of the agent to give notice of any service of process to Buyers&#8217; Parent shall not affect the validity of service on such agent or any proceeding based on such
              service.&#160; Buyers&#8217; Parent shall be responsible for all fees and expenses payable to such agent.&#160; A copy of all process served on the agent shall be provided pursuant to <u>Section 12.5</u> or to such other address as the agent may designate
              in writing from time to time.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 108pt;"><a name="z_Ref46830338"></a>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Nothing contained in <u>Section 12.10(a)</u> shall limit the right of Buyers or Sellers to take any action in any court of competent jurisdiction
              for the purposes of enforcing any judgment or any equitable remedy or relief, nor shall the taking of any such action by Buyers or Sellers in one or more jurisdictions preclude the taking of any such action in any other jurisdiction (whether
              concurrently or not) if and to the extent permitted by Law.</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-92-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572350"></a><a name="z_Toc48978842"></a>12.11&#160;&#160;&#160;&#160; <u>WAIVER OF JURY TRIAL</u>.&#160; EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
              IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).&#160; EACH PARTY HERETO <a name="DocXTextRef389"></a>(A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER,
              AND <a name="DocXTextRef390"></a>(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46828299"></a><a name="z_Ref46830819"></a><a name="z_Toc48978843"></a>12.12&#160;&#160;&#160; <u>Attorney-Client Privilege and Conflict Waiver</u>.&#160; Recognizing that each of Hunton Andrews
              Kurth LLP, Khaitan &amp; Co., Mundie e Advogados, NautaDutilh, Stibbe N.V., Radv&#225;nyi &amp; Partners Law Firm and Groom Law Group (collectively, &#8220;<u>Sellers&#8217; Legal Advisors</u>&#8221; and each, a &#8220;<u>Sellers&#8217; Legal Advisor</u>&#8221;) has acted as legal
              counsel to Sellers and certain of their Affiliates, including the Target Companies and Target Subsidiaries prior to Closing, and that each Sellers&#8217; Legal Advisor intends to act as legal counsel to Sellers and certain of its Affiliates after
              Closing, Buyers hereby waive, on their own behalf, and agree to cause its Affiliates (including, from and after Closing, the Target Companies and Target Subsidiaries) to waive, any conflicts that may arise in connection with each Sellers&#8217;
              Legal Advisor representing Sellers and/or their Affiliates after Closing as such representation may relate to Buyers, the Target Companies and Target Subsidiaries, or the transactions contemplated herein (including in respect of litigation).&#160;
              In addition, all communications involving attorney-client confidences between or among Sellers, their Affiliates, the Target Companies and Target Subsidiaries, on the one hand, and each of Sellers&#8217; Legal Advisor, on the other hand, in the
              course of the negotiation, documentation and consummation of the transactions contemplated hereby or otherwise shall be deemed to be attorney-client confidences that belong solely to Sellers and their Affiliates (and not the Target Companies
              or any Target Subsidiaries).&#160; Accordingly, Buyers agree that, following Closing, none of them, nor any Target Company nor any Target Subsidiary, nor any of their Affiliates, shall have access to any such communications, or to the files of any
              of Sellers&#8217; Legal Advisors relating to their respective engagements with Sellers and certain of their Affiliates including the Target Companies and Target Subsidiaries.&#160; Without limiting the generality of the foregoing, upon and after
              Closing, <a name="DocXTextRef391"></a>(i)&#160; Sellers and their Affiliates (and not the Target Companies or any Target Subsidiaries) shall be the sole holders of the attorney-client privilege with respect to such engagements, and neither the
              Target Companies nor any of Target Subsidiaries shall be a holder thereof, (ii) to the extent that files of any of Sellers&#8217; Legal Advisors in respect of such engagement constitute property of the client, only Sellers and their Affiliates (and
              not the Target Companies or any Target Subsidiaries) shall hold such property rights and (iii) none of the Sellers&#8217; Legal Advisors shall have any duty whatsoever to reveal or disclose any such attorney-client communications or files to the
              Target Companies or any Target Subsidiaries by reason of any attorney-client relationship between each Sellers&#8217; Legal Advisor, on the one hand, and the Target Companies or any Target Subsidiaries, on the other hand, or otherwise.</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-93-</font></div>
              <div style="page-break-after: always;" id="DSPFPageBreak">
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            </div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref46827598"></a><a name="z_Ref46830826"></a><a name="z_Toc48978844"></a>12.13&#160;&#160;&#160;&#160; <u>Non-Recourse</u>.&#160; All claims or causes of action (whether in contract or in tort, in Law or
              in equity) that may be based upon, arise out of or relate to this Agreement or the negotiation, execution or performance hereof (including any representation or warranty made in or in connection with this Agreement or as an inducement to
              enter into this Agreement or the transactions contemplated hereby) may be made only against the entities that are expressly identified as parties hereto.&#160; No Person who is not a named party to this Agreement, including any past, present or
              future director, officer, employee, incorporator, member, manager, partner, equity holders (including stockholders and option holders), Affiliate, agent, attorney or representative of any named party to this Agreement (&#8220;<u>Non-Party
                Affiliates</u>&#8221;), shall have any liability (whether in contract or in tort, in Law or in equity, or based upon any theory that seeks to impose liability of an entity party against its owners or affiliates) for any obligations or liabilities
              arising under, in connection with or related to this Agreement or for any claim based on, in respect of, or by reason of this Agreement or the negotiation or execution hereof; and each party waives and releases all such liabilities, claims
              and obligations against any such Non-Party Affiliates.&#160; Non-Party Affiliates are expressly intended as third party beneficiaries of this provision of this Agreement.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572351"></a><a name="z_Toc48978845"></a>12.14&#160;&#160;&#160;&#160; <u>Construction and Disclosure</u>.&#160; Each Buyer, on the one hand, and each Seller, on the other hand, confirms that it and
              its respective counsel have reviewed, negotiated and adopted this Agreement as the joint agreement and understanding of the parties hereto, and the language used in this Agreement shall be deemed to be the language chosen by the parties
              hereto to express their mutual intent, and no rule of strict construction shall be applied against any Person.&#160; The specification of any dollar amount or the inclusion of any item in the representations and warranties contained in this
              Agreement or the <a name="DocXTextRef392"></a>Schedules is not intended to imply that the amounts, or higher or lower amounts, or the items so included, or other items, are or are not required to be disclosed (including whether such amounts
              or items are required to be disclosed as material or threatened) or are within or outside of the ordinary course of business.&#160; The information contained in this Agreement and in the <a name="DocXTextRef393"></a>Schedules hereto is disclosed
              solely for purposes of this Agreement, and no information contained herein or therein shall be deemed to be an admission by any party hereto to any third party of any matter whatsoever (including any violation of law or breach of contract).&#160;
              The <a name="DocXTextRef394"></a>Schedules and the information and disclosures contained therein are intended only to qualify and limit the representations, warranties or covenants of Sellers contained in this Agreement and shall not be
              deemed to expand in any way the scope or effect of any of such representations, warranties or covenants.&#160; In disclosing the information in the <a name="DocXTextRef395"></a>Schedules, no Seller waives any attorney-client privilege associated
              with such information or any protection afforded by the work&#8209;product doctrine with respect to any of the matters disclosed or discussed therein.&#160; The disclosures in the <a name="DocXTextRef396"></a>Schedules are to be taken as relating to
              the representations and warranties as a whole, notwithstanding the fact that the <a name="DocXTextRef397"></a>Schedules are arranged by sections corresponding to the sections in this Agreement, or that a particular section of this Agreement
              makes reference to a specific section of the <a name="DocXTextRef398"></a>Schedules, and notwithstanding that a particular representation and warranty may not make a reference to the <a name="DocXTextRef399"></a>Schedules.&#160; Disclosure of an
              item on one Schedule shall be deemed disclosed on all other <a name="DocXTextRef400"></a>Schedules to the extent its relevance is reasonably apparent on its face.&#160; Capitalized terms used in the <a name="DocXTextRef401"></a>Schedules and not
              otherwise defined therein have the meanings given to them in this Agreement.&#160; Time is of the essence with respect to each and every provision of this Agreement.</div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-94-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572352"></a><a name="z_Toc48978846"></a>12.15&#160;&#160;&#160;&#160; <u>Severability</u>.&#160; If any provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or
              unenforceable, the remainder of the provisions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby
              is not affected in any manner materially adverse to any party hereto.&#160; Upon such a determination, Buyers&#8217; Parent and Sellers&#8217; Representative shall negotiate in good faith to modify this Agreement so as to effect the original intent of the
              parties as closely as possible in a reasonably acceptable manner so that the transactions contemplated hereby may be consummated as originally contemplated to the fullest extent possible.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572353"></a><a name="z_Toc48978847"></a>12.16&#160; &#160;&#160; <u>Counterparts</u>.&#160; This Agreement may be signed in any number of counterparts with the same effect as if the signatures
              to each counterpart were upon a single instrument, and all such counterparts together shall be deemed an original of this Agreement.&#160; This Agreement shall become effective when, and only when, each party hereto shall have received a
              counterpart hereof signed by all of the other parties hereto.&#160; A manual signature on this Agreement or other documents to be delivered pursuant to this Agreement, an image of which shall have been transmitted electronically, will constitute
              an original signature for all purposes.&#160; The delivery of copies of this Agreement or other documents to be delivered pursuant to this Agreement, including executed signature pages where required, by electronic transmission will constitute
              effective delivery of this Agreement or such other document for all purposes.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Ref47572354"></a><a name="z_Toc48978848"></a>12.17&#160;&#160;&#160;&#160; <u>No Rescission</u>.&#160; No party will be entitled to rescind any of the transactions contemplated by this Agreement after
              Closing, except in the event of a final and non-appealable determination of Fraud by a court of competent jurisdiction pursuant to <u>Section 12.10(a)</u>.</div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 72pt;"><a name="z_Toc48978849"></a>12.18&#160;&#160;&#160;&#160; <u>Miramar&#8217;s Rights and Obligations</u>.&#160; Notwithstanding anything to the contrary in this Agreement, all rights of Miramar under this Agreement shall
              be exercised by Miramar on its own behalf (and not by Buyers&#8217; Parent).&#160; Similarly, all obligations of Miramar shall be enforceable against Miramar only (and not against Buyers&#8217; Parent) and shall not be subject to any guarantee of performance
              or payment by the Buyers&#8217; Parent.</div>
            <div>&#160;</div>
            <div style="text-align: center;">[<font style="font-style: italic;">Remainder of page intentionally left blank</font>]</div>
            <div><br>
            </div>
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              <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">-95-</font></div>
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            </div>
            <div style="text-align: justify; text-indent: 72pt;">IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the date first above written.</div>
            <div>&#160;</div>
            <div style="text-align: justify; font-size: 12pt; font-weight: bold;"><font style="font-size: 10pt;"><u>SELLERS</u></font><font style="font-size: 10pt;">:</font></div>
            <div>&#160;</div>
            <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zc1b229632adc4d59b553eccb12b94c6e">

                <tr>
                  <td style="vertical-align: top;" colspan="2">
                    <div style="text-align: justify; font-weight: bold;">TREDEGAR CORPORATION</div>
                  </td>
                  <td style="vertical-align: top; width: 5%;" colspan="1">&#160;</td>
                  <td style="vertical-align: top;" colspan="2">
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                <tr>
                  <td style="vertical-align: top;" rowspan="1" colspan="2">&#160;</td>
                  <td style="vertical-align: top; width: 5%;" rowspan="1" colspan="1">&#160;</td>
                  <td style="vertical-align: top;" rowspan="1" colspan="2">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 4%; vertical-align: top; padding-bottom: 2px;" rowspan="1">
                    <div style="text-align: justify;">By:<br>
                    </div>
                  </td>
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                  </td>
                  <td style="vertical-align: top; width: 5%; padding-bottom: 2px;" rowspan="1" colspan="1">&#160;</td>
                  <td style="width: 4%; vertical-align: top; padding-bottom: 2px;" rowspan="1">
                    <div style="text-align: justify;">By:<br>
                    </div>
                  </td>
                  <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">/s/ Michael J. Schewel<br>
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                </tr>
                <tr>
                  <td style="width: 4%; vertical-align: top;" rowspan="1">
                    <div style="text-align: justify;">Name:<br>
                    </div>
                  </td>
                  <td style="width: 42%; vertical-align: top;" rowspan="1">Michael J. Schewel</td>
                  <td style="vertical-align: top; width: 5%;" rowspan="1" colspan="1">&#160;</td>
                  <td style="width: 4%; vertical-align: top;" rowspan="1">
                    <div style="text-align: justify;">Name:<br>
                    </div>
                  </td>
                  <td style="width: 45%; vertical-align: top;" rowspan="1">Michael J. Schewel</td>
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                <tr>
                  <td style="width: 4%; vertical-align: top;" rowspan="1">
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                  <td style="vertical-align: top; width: 5%;" rowspan="1" colspan="1">&#160;</td>
                  <td style="width: 4%; vertical-align: top;" rowspan="1">
                    <div style="text-align: justify;">Title:<br>
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                <tr>
                  <td style="vertical-align: top;" rowspan="1" colspan="2">&#160;</td>
                  <td style="vertical-align: top; width: 5%;" rowspan="1" colspan="1">&#160;</td>
                  <td style="vertical-align: top;" rowspan="1" colspan="2">&#160;</td>
                </tr>
                <tr>
                  <td style="vertical-align: top;" rowspan="1" colspan="2">
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                  </td>
                  <td style="vertical-align: top; width: 5%;" rowspan="1" colspan="1">&#160;</td>
                  <td style="vertical-align: top;" rowspan="1" colspan="2">
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                </tr>
                <tr>
                  <td style="vertical-align: top;" rowspan="1" colspan="2">&#160;</td>
                  <td style="vertical-align: top; width: 5%;" rowspan="1" colspan="1">&#160;</td>
                  <td style="vertical-align: top;" rowspan="1" colspan="2">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 4%; vertical-align: top; padding-bottom: 2px;" rowspan="1">
                    <div style="text-align: justify;">By:<br>
                    </div>
                  </td>
                  <td style="width: 42%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">/s/ Michael J. Schewel<br>
                  </td>
                  <td style="vertical-align: top; width: 5%; padding-bottom: 2px;" rowspan="1" colspan="1">&#160;</td>
                  <td style="width: 4%; vertical-align: top; padding-bottom: 2px;" rowspan="1">
                    <div style="text-align: justify;">By:<br>
                    </div>
                  </td>
                  <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">/s/ Michael J. Schewel<br>
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                </tr>
                <tr>
                  <td style="width: 4%; vertical-align: top;" rowspan="1">
                    <div style="text-align: justify;">Name:<br>
                    </div>
                  </td>
                  <td style="width: 42%; vertical-align: top;" rowspan="1">Michael J. Schewel</td>
                  <td style="vertical-align: top; width: 5%;" rowspan="1" colspan="1">&#160;</td>
                  <td style="width: 4%; vertical-align: top;" rowspan="1">
                    <div style="text-align: justify;">Name:<br>
                    </div>
                  </td>
                  <td style="width: 45%; vertical-align: top;" rowspan="1">Michael J. Schewel</td>
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                <tr>
                  <td style="width: 4%; vertical-align: top;" rowspan="1">
                    <div style="text-align: justify;">Title:<br>
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                  <td style="vertical-align: top; width: 5%;" rowspan="1" colspan="1">&#160;</td>
                  <td style="width: 4%; vertical-align: top;" rowspan="1">
                    <div style="text-align: justify;">Title:<br>
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                  <td style="width: 45%; vertical-align: top;" rowspan="1">Vice President</td>
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            <div><br>
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            <div style="text-align: justify;">In its capacity as Sellers&#8217; Representative:.</div>
            <div>&#160;</div>
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                    <td style="width: 54%;">
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="3">
                      <div>&#160;</div>
                    </td>
                    <td style="width: 54%;">
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 3%; padding-bottom: 2px;">By:</td>
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                      </u></td>
                    <td style="width: 54%; padding-bottom: 2px;">
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 3%;"><br>
                    </td>
                    <td style="width: 4%;">Name:</td>
                    <td style="width: 39%;">Michael J. Schewel</td>
                    <td style="width: 54%;">
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 3%;"><br>
                    </td>
                    <td style="width: 4%;">Title:</td>
                    <td style="width: 39%;">Executive Vice President, General Counsel and Corporate Secretary</td>
                    <td style="width: 54%;">
                      <div>&#160;</div>
                    </td>
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            <div>
              <div>&#160;</div>
              <div>
                <div>
                  <div style="text-align: center; font-style: italic;">Sellers&#8217; Signature Page to Purchase and Sale Agreement</div>
                </div>
                <div><br>
                </div>
                <u> </u></div>
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            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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            <div style="text-align: justify; font-size: 12pt; font-weight: bold;"><font style="font-size: 10pt;"><u>BUYERS</u></font><font style="font-size: 10pt;">:</font></div>
            <div>&#160;</div>
            <div>
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                  <tr>
                    <td style="vertical-align: top;" colspan="3">
                      <div style="text-align: justify; font-weight: bold;">
                        <div style="font-weight: bold;">FITESA NAO TECIDOS S.A</div>
                      </div>
                    </td>
                    <td style="vertical-align: top; width: 5%;" colspan="1">&#160;</td>
                    <td style="vertical-align: top;" colspan="3">
                      <div style="text-align: justify; font-weight: bold;">
                        <div style="font-weight: bold;">FITESA US LLC</div>
                      </div>
                    </td>
                  </tr>
                  <tr>
                    <td style="vertical-align: top;" rowspan="1" colspan="3">&#160;</td>
                    <td style="vertical-align: top; width: 5%;" rowspan="1" colspan="1">&#160;</td>
                    <td style="vertical-align: top;" rowspan="1" colspan="3">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; vertical-align: top; padding-bottom: 2px;" rowspan="1">
                      <div style="text-align: justify;">By:<br>
                      </div>
                    </td>
                    <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">/s/ Silverio Baranzano</td>
                    <td style="vertical-align: top; width: 5%; padding-bottom: 2px;" rowspan="1" colspan="1">&#160;</td>
                    <td style="width: 3%; vertical-align: top; padding-bottom: 2px;" rowspan="1">
                      <div style="text-align: justify;">By:<br>
                      </div>
                    </td>
                    <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">/s/ Silverio Baranzano</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; vertical-align: top;" rowspan="1">
                      <div style="text-align: justify;"><br>
                      </div>
                    </td>
                    <td style="width: 4%; vertical-align: top;" rowspan="1">Name:</td>
                    <td style="width: 39%; vertical-align: top;" rowspan="1">Silverio Baranzano</td>
                    <td style="vertical-align: top; width: 5%;" rowspan="1" colspan="1">&#160;</td>
                    <td style="width: 3%; vertical-align: top;" rowspan="1">
                      <div style="text-align: justify;"><br>
                      </div>
                    </td>
                    <td style="width: 4%; vertical-align: top;" rowspan="1">
                      <div style="text-align: justify;">Name:<br>
                      </div>
                    </td>
                    <td style="width: 42%; vertical-align: top;" rowspan="1">Silverio Baranzano</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; vertical-align: top;" rowspan="1">
                      <div style="text-align: justify;"><br>
                      </div>
                    </td>
                    <td style="width: 4%; vertical-align: top;" rowspan="1">Title:</td>
                    <td style="width: 39%; vertical-align: top;" rowspan="1">CEO<br>
                    </td>
                    <td style="vertical-align: top; width: 5%;" rowspan="1" colspan="1">&#160;</td>
                    <td style="width: 3%; vertical-align: top;" rowspan="1">
                      <div style="text-align: justify;"><br>
                      </div>
                    </td>
                    <td style="width: 4%; vertical-align: top;" rowspan="1">Title:</td>
                    <td style="width: 42%; vertical-align: top;" rowspan="1">CEO<br>
                    </td>
                  </tr>
                  <tr>
                    <td style="vertical-align: top;" rowspan="1" colspan="3">&#160;</td>
                    <td style="vertical-align: top; width: 5%;" rowspan="1" colspan="1">&#160;</td>
                    <td style="vertical-align: top;" rowspan="1" colspan="3">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; vertical-align: top; padding-bottom: 2px;" rowspan="1">
                      <div style="text-align: justify;">By:<br>
                      </div>
                    </td>
                    <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">/s/ Lavinia Leite</td>
                    <td style="vertical-align: top; width: 5%; padding-bottom: 2px;" rowspan="1" colspan="1">&#160;</td>
                    <td style="width: 3%; vertical-align: top; padding-bottom: 2px;" rowspan="1">
                      <div style="text-align: justify;">By:</div>
                    </td>
                    <td colspan="2" style="vertical-align: top; padding-bottom: 2px; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">/s/ Lavinia Leite</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; vertical-align: top;" rowspan="1">
                      <div style="text-align: justify;"><br>
                      </div>
                    </td>
                    <td style="width: 4%; vertical-align: top;" rowspan="1">Name:<br>
                    </td>
                    <td style="width: 39%; vertical-align: top;" rowspan="1">Lavinia Leite</td>
                    <td style="vertical-align: top; width: 5%;" rowspan="1" colspan="1">&#160;</td>
                    <td style="width: 3%; vertical-align: top;" rowspan="1">
                      <div style="text-align: justify;"><br>
                      </div>
                    </td>
                    <td style="width: 4%; vertical-align: top;" rowspan="1">Name:</td>
                    <td style="width: 42%; vertical-align: top;" rowspan="1">Lavinia Leite</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; vertical-align: top;" rowspan="1">
                      <div style="text-align: justify;"><br>
                      </div>
                    </td>
                    <td style="width: 4%; vertical-align: top;" rowspan="1">Title:<br>
                    </td>
                    <td style="width: 39%; vertical-align: top;" rowspan="1">Director<br>
                    </td>
                    <td style="vertical-align: top; width: 5%;" rowspan="1" colspan="1">&#160;</td>
                    <td style="width: 3%; vertical-align: top;" rowspan="1"><br>
                    </td>
                    <td style="width: 4%; vertical-align: top;" rowspan="1">Title:</td>
                    <td style="width: 42%; vertical-align: top;" rowspan="1">Director<br>
                    </td>
                  </tr>

              </table>
              <div> <br>
              </div>
            </div>
            <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z9e92aa6fe78b4bd2bdd8efc17f8d6459">
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            <div>
              <table cellspacing="0" cellpadding="0" border="0" id="z0a49a9e3198642ca8a4e2b048cd838b0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

                  <tr>
                    <td colspan="3">
                      <div>
                        <div style="text-align: justify;">MIRAMAR PARTICIPA&#199;&#213;ES LTDA</div>
                      </div>
                    </td>
                    <td style="width: 54%;">
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="3" rowspan="1">&#160;</td>
                    <td style="width: 54%;" rowspan="1">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; padding-bottom: 2px;">By:</td>
                    <td style="border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">/s/ William Ling</td>
                    <td style="width: 54%; padding-bottom: 2px;">
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 3%;"><br>
                    </td>
                    <td style="width: 4%;">Name:</td>
                    <td style="width: 39%;">William Ling</td>
                    <td style="width: 54%;">
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 3%;"><br>
                    </td>
                    <td style="width: 4%;">Title:</td>
                    <td style="width: 39%;">CEO</td>
                    <td style="width: 54%;">
                      <div>&#160;</div>
                    </td>
                  </tr>

              </table>
              <div> <br>
              </div>
            </div>
            In its capacity as Buyers&#8217; Parent:
            <div>&#160;</div>
            <div>
              <div style="font-weight: bold;">FITESA S.A.</div>
              <div>&#160;</div>
              <table cellspacing="0" cellpadding="0" border="0" id="z91ad7979cbbc453f8a10436aed56b81e" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

                  <tr>
                    <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                      <div>By:<br>
                      </div>
                    </td>
                    <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">/s/ Silverio Baranzano</td>
                    <td style="width: 54%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; vertical-align: top;">
                      <div><br>
                      </div>
                    </td>
                    <td style="width: 4%; vertical-align: top;">
                      <div>Name:<br>
                      </div>
                    </td>
                    <td style="width: 39%; vertical-align: top;">Silverio Baranzano</td>
                    <td style="width: 54%; vertical-align: top;">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; vertical-align: top;">
                      <div><br>
                      </div>
                    </td>
                    <td style="width: 4%; vertical-align: top;">
                      <div>Title:<br>
                      </div>
                    </td>
                    <td style="width: 39%; vertical-align: top;">CEO</td>
                    <td style="width: 54%; vertical-align: top;">&#160;</td>
                  </tr>
                  <tr>
                    <td style="vertical-align: top;" colspan="3">&#160;</td>
                    <td style="width: 54%; vertical-align: top;">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                      <div>By:<br>
                      </div>
                    </td>
                    <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">/s/ Lavinia Leite</td>
                    <td style="width: 54%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; vertical-align: top;">
                      <div><br>
                      </div>
                    </td>
                    <td style="width: 4%; vertical-align: top;">
                      <div>Name:<br>
                      </div>
                    </td>
                    <td style="width: 39%; vertical-align: top;">Lavinia Leite</td>
                    <td style="width: 54%; vertical-align: top;">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; vertical-align: top;"><br>
                    </td>
                    <td style="width: 4%; vertical-align: top;">
                      <div>Title:<br>
                      </div>
                    </td>
                    <td style="width: 39%; vertical-align: top;">Director</td>
                    <td style="width: 54%; vertical-align: top;">&#160;</td>
                  </tr>

              </table>
              <div>&#160;</div>
            </div>
            <div>
              <div style="text-align: center; font-style: italic;">Buyers&#8217; Signature Page to Purchase and Sale Agreement</div>
            </div>
            <div><br>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div style="page-break-after:always;" id="DSPFPageBreak">
                <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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            <div style="text-align: center; font-weight: bold;"><u>GUARANTY</u></div>
            <div>&#160;</div>
            <div style="text-align: justify; text-indent: 36pt;">IN WITNESS WHEREOF, the undersigned has caused this Guaranty to be executed in its name by a duly authorized officer as of the date first written above in order to evidence its absolute,
              continuing and irrevocable guarantee of, and the undersigned does hereby guarantee, <a name="DocXTextRef402"></a>(i) Buyers&#8217; payment of the amounts set forth in <u>Sections 3.2(a)(i)</u> through <u>3.2(a)(iii)</u>, (ii) Buyers&#8217; performance
              of its covenants and agreements required to be performed prior to, at or after Closing <u>VII</u>, and (iii) each other obligation of Buyers set forth in this Agreement (the &#8220;<u>Guaranteed Obligations</u>&#8221;), in each case subject to the terms
              and conditions contained in this Agreement, and the undersigned hereby acknowledges and agrees that it will receive direct and indirect benefits in connection with the consummation by Buyers of the transactions contemplated by this Agreement
              and that such benefits constitute good and sufficient consideration for and in support of its agreement to guarantee the Guaranteed Obligations.&#160; This guaranty shall terminate as and when the Guaranteed Obligations have been satisfied,
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            <div>&#160;</div>
            <div style="font-weight: bold;">FITESA S.A.</div>
            <div>&#160;</div>
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                <tr>
                  <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                    <div>By:<br>
                    </div>
                  </td>
                  <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">/s/ Silverio Baranzano</td>
                  <td style="width: 54%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 3%; vertical-align: top;">
                    <div><br>
                    </div>
                  </td>
                  <td style="width: 4%; vertical-align: top;">
                    <div>Name:<br>
                    </div>
                  </td>
                  <td style="width: 39%; vertical-align: top;">Silverio Baranzano</td>
                  <td style="width: 54%; vertical-align: top;">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 3%; vertical-align: top;">
                    <div><br>
                    </div>
                  </td>
                  <td style="width: 4%; vertical-align: top;">
                    <div>Title:<br>
                    </div>
                  </td>
                  <td style="width: 39%; vertical-align: top;">CEO</td>
                  <td style="width: 54%; vertical-align: top;">&#160;</td>
                </tr>
                <tr>
                  <td style="vertical-align: top;" colspan="3">&#160;</td>
                  <td style="width: 54%; vertical-align: top;">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                    <div>By:<br>
                    </div>
                  </td>
                  <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">/s/ Lavinia Leite</td>
                  <td style="width: 54%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 3%; vertical-align: top;">
                    <div><br>
                    </div>
                  </td>
                  <td style="width: 4%; vertical-align: top;">
                    <div>Name:<br>
                    </div>
                  </td>
                  <td style="width: 39%; vertical-align: top;">Lavinia Leite</td>
                  <td style="width: 54%; vertical-align: top;">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 3%; vertical-align: top;"><br>
                  </td>
                  <td style="width: 4%; vertical-align: top;">
                    <div>Title:<br>
                    </div>
                  </td>
                  <td style="width: 39%; vertical-align: top;">Director</td>
                  <td style="width: 54%; vertical-align: top;">&#160;</td>
                </tr>

            </table>
            <div> <br>
            </div>
            <div>
              <div style="text-align: center; font-style: italic;">Guaranty Signature Page to Purchase and Sale Agreement</div>
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<DOCUMENT>
<TYPE>EX-99.1
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    <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
    <div><u>Exhibit 99.1</u></div>
  </div>
  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u> <br>
    </u></div>
  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u> </u>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;" id="ze3db4fa716a346bb940a73dd6ea108fc">

        <tr>
          <td style="width: 15%;" colspan="3" rowspan="1"><img src="image00003.jpg"></td>
          <td style="width: 25%; text-align: left; vertical-align: top;" rowspan="7" colspan="1"><img src="image00002.jpg"></td>
        </tr>
        <tr>
          <td style="width: 15%;" colspan="1" rowspan="1">&#160;</td>
          <td style="width: 30%;" rowspan="1">&#160;</td>
          <td style="width: 30%;" rowspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15%;" colspan="1">&#160;</td>
          <td style="width: 30%;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Tredegar Corporation</font></td>
          <td style="width: 30%;"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">Contact:</font></font></td>
        </tr>
        <tr>
          <td style="width: 15%;" colspan="1">&#160;</td>
          <td style="width: 30%;">Corporate Communications</td>
          <td style="width: 30%;">
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">Neill Bellamy</div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%;" colspan="1">&#160;</td>
          <td style="width: 30%;">1100 Boulders Parkway</td>
          <td style="width: 30%;">
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">Phone: 804/330-1211</div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%;" colspan="1">&#160;</td>
          <td style="width: 30%;">Richmond, Virginia 23225</td>
          <td style="width: 30%;">
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">E-mail: neill.bellamy@tredegar.com</div>
          </td>
        </tr>
        <tr>
          <td style="width: 15%;" colspan="1">&#160;</td>
          <td style="width: 30%;">Website: www.tredegar.com</td>
          <td style="width: 30%;">&#160;</td>
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  </div>
  <div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u> <br>
      </u></div>
  </div>
  <div>
    <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">FOR IMMEDIATE RELEASE</div>
    <div><font style="font-size: 10pt;"><br>
      </font> </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">TREDEGAR AGREES TO SELL PERSONAL CARE FILMS BUSINESS TO FITESA</div>
    <div><font style="font-size: 10pt;"><br>
      </font> </div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 36pt;">RICHMOND, VA, August 25, 2020 &#8211; Tredegar Corporation (NYSE:TG) announced today that it has agreed to sell its personal care films (&#8220;Personal Care Films&#8221;)
      business to affiliates of Fitesa S.A.&#160; The Personal Care Films business, which is currently reported by Tredegar within the personal care component of its PE Films segment, has approximately 400 employees worldwide and includes manufacturing sites
      located in Terre Haute, Indiana; Kerkrade, The Netherlands; R&#233;ts&#225;g, Hungary; Diadema, Brazil; and Pune, India. The proposed transaction excludes the packaging film lines and operations relating to the Pottsville, Pennsylvania manufacturing site
      currently reported by Tredegar within the personal care component of its PE Films segment (&#8220;Pottsville Packaging&#8221;).</div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 36pt;">Cash proceeds from the sale net of transaction costs, purchase price adjustments and transition services are estimated at $40 to $45 million.&#160; Net cash
      income tax costs or benefits relating to the transaction are expected to be negligible.</div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 36pt;">For the 12 months ended June 30, 2020, net sales and EBITDA from ongoing operations for the Personal Care Films business to be sold were $133 million and
      negative $1.7 million, respectively.</div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 36pt;">For the 12 months ended June 30, 2020, net sales and EBITDA from ongoing operations for the Pottsville Packaging business to be retained by Tredegar were
      $23 million and positive $7.0 million, respectively.&#160; Tredegar also estimates that approximately $3 million of certain PE Films segment annual shared services costs previously allocated to Personal Care Films will not be eliminated in the
      transaction.</div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 36pt;">Closing of the transaction, which is contingent upon the satisfaction of customary conditions, including competition filings in various countries where
      Tredegar and Fitesa do business, is expected to occur during the fourth quarter of 2020.&#160; The Personal Care Films business, with a carrying value of net assets of approximately $70 million, is expected to be reported as a discontinued operation
      beginning in the third quarter of 2020 and a non-cash accounting loss is expected to be recognized at that time.&#160; Tredegar&#8217;s surface protection component of its PE Films segment, with manufacturing at the Pottsville facility as well as in Guangzhou,
      China, will add Pottsville Packaging to its responsibilities.</div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
    </div>
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    </div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">
      <div style="text-align: left; color: rgb(51, 51, 51); font-family: 'Times New Roman'; font-size: 10pt;">
        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">TREDEGAR ANNOUNCES DEFINITIVE AGREEMENT, page 2</div>
      </div>
      <div style="text-align: left; color: rgb(51, 51, 51); font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div style="text-align: left; color: rgb(51, 51, 51); font-family: 'Times New Roman'; font-size: 10pt; text-indent: 36pt;">Tredegar Corporation is a manufacturer of plastic films and aluminum extrusions. A global company headquartered in Richmond,
        Virginia, Tredegar had 2019 sales of $1 billion. With approximately 3,000 employees, the company operates manufacturing facilities in North America, South America, Europe, and Asia.</div>
      <div style="text-align: left; text-indent: 36pt; color: rgb(51, 51, 51); font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div style="text-align: left; color: rgb(51, 51, 51); font-family: 'Times New Roman'; font-size: 10pt; text-indent: 36pt;">Fitesa is one of the leading and largest global manufacturers of nonwovens.&#160; It provides innovative solutions for the hygiene
        and healthcare markets using a broad range of nonwoven technologies, that include spunbond, carded, airlaid and elastic films and laminates. Headquartered in Porto Alegre, Brazil, Fitesa employs over 2,000 people in 16 manufacturing locations
        across 10 countries: Brazil, Peru, Mexico, Italy, Sweden, Germany, United States, United Arab Emirates, Thailand and China.</div>
      <div style="text-align: left; text-indent: 36pt; color: rgb(51, 51, 51); font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div style="text-align: center; color: rgb(51, 51, 51); font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Forward-Looking Statements</div>
      <div style="text-align: center; color: #333333; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"> <br>
      </div>
      <div style="text-align: left; color: rgb(51, 51, 51); font-family: 'Times New Roman'; font-size: 10pt; text-indent: 36pt;">Some of the information contained in this press release may constitute &#8220;forward-looking statements&#8221; within the meaning of the
        &#8220;safe harbor&#8221; provisions of the Private Securities Litigation Reform Act of 1995. When we use the words &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;anticipate,&#8221; &#8220;appear to,&#8221; &#8220;expect,&#8221; &#8220;project,&#8221; &#8220;plan,&#8221; &#8220;likely,&#8221; &#8220;may&#8221; and similar expressions, Tredegar does so to
        identify forward-looking statements. Such statements are based on Tredegar&#8217;s then current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those addressed in the
        forward-looking statements. It is possible that actual results may differ, possibly materially, from the forward-looking statements provided in this press release. Accordingly, you should not place undue reliance on these forward-looking
        statements.&#160; Factors that could cause actual results to differ from expectations include, without limitation, the following: Tredegar&#8217;s inability to complete the proposed transaction in a timely manner (or at all) and at the prices it has assumed;
        possible disruptions to customer and employee relationships and business operations caused by the proposed transaction; the ability to achieve the levels cost savings and operational improvements anticipated; and the other factors discussed in the
        reports Tredegar files with or furnishes to the Securities and Exchange Commission (the &#8220;SEC&#8221;) from time to time, including the risks and important factors set forth in additional detail in &#8220;Risk Factors&#8221; in Part I, Item 1A of Tredegar&#8217;s Annual
        Report on Form 10-K for the year ended December 31, 2019 and in Part II, Item 1A of Tredegar&#8217;s Quarterly Report on Form 10-Q for the period ended March 31, 2020. Readers are urged to review and consider carefully the disclosures Tredegar makes in
        its filings with the SEC.</div>
      <div style="text-align: left; text-indent: 36pt; color: rgb(51, 51, 51); font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div style="text-align: left; color: rgb(51, 51, 51); font-family: 'Times New Roman'; font-size: 10pt; text-indent: 36pt;">Tredegar does not undertake, and expressly disclaims any duty, to update any forward-looking statement made in this press
        release to reflect any change in management&#8217;s expectations or any change in conditions, assumptions or circumstances on which such statements are based, except as required by applicable law.</div>
      <div style="text-align: left; text-indent: 36pt; color: rgb(51, 51, 51); font-family: 'Times New Roman'; font-size: 10pt;"> <br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;"># # #</div>
    </div>
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"> <br>
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    <br>
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  <font style="font-size: 10pt;"></font> <font style="font-size: 10pt;"> </font>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>6
<FILENAME>tg-20200824_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
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      id="Fact_84c5e2bbbc9e4c1e93e8b2aa8d3624f0">false</dei:AmendmentFlag>
    <dei:EntityRegistrantName
      contextRef="c20200824to20200824"
      id="Fact_17569890b14d45f08a3bcd5df9f03960">TREDEGAR CORP</dei:EntityRegistrantName>
    <dei:EntityCentralIndexKey
      contextRef="c20200824to20200824"
      id="Fact_7f50c664a40348f1b323b6ad31781d59">0000850429</dei:EntityCentralIndexKey>
    <dei:DocumentType
      contextRef="c20200824to20200824"
      id="Fact_b83870767f1944269bfcdf40d9baaa6b">8-K</dei:DocumentType>
    <dei:DocumentPeriodEndDate
      contextRef="c20200824to20200824"
      id="Fact_19fce9e0beae4946993d169623fa5f9b">2020-08-24</dei:DocumentPeriodEndDate>
    <dei:EntityIncorporationStateCountryCode
      contextRef="c20200824to20200824"
      id="Fact_949284d30f5249f7bd69dd92acafb423">VA</dei:EntityIncorporationStateCountryCode>
    <dei:EntityFileNumber
      contextRef="c20200824to20200824"
      id="Fact_a4acfa769bcb49b2b829c500176960df">1-10258</dei:EntityFileNumber>
    <dei:EntityTaxIdentificationNumber
      contextRef="c20200824to20200824"
      id="Fact_57eb303886b1436d90e1d3c54b3904f5">54-1497771</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1
      contextRef="c20200824to20200824"
      id="Fact_60360939443d47c8a4922262c670ec36">1100 Boulders Parkway</dei:EntityAddressAddressLine1>
    <dei:EntityAddressCityOrTown
      contextRef="c20200824to20200824"
      id="Fact_1c2240fd36654833b9d6806af392ea27">Richmond</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince
      contextRef="c20200824to20200824"
      id="Fact_38be3389764b4186ac26883f8138edb9">VA</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode
      contextRef="c20200824to20200824"
      id="Fact_f0d154c426054f14b01c7867f929e51c">23225</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode
      contextRef="c20200824to20200824"
      id="Fact_73f142520677488e86070019720dbcd5">804</dei:CityAreaCode>
    <dei:LocalPhoneNumber
      contextRef="c20200824to20200824"
      id="Fact_20833cd46adc46f7ae11fc0e2f87d69f">330-1000</dei:LocalPhoneNumber>
    <dei:WrittenCommunications
      contextRef="c20200824to20200824"
      id="Fact_51f5e14d4ed343b7ac31a816fb5d7ecd">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial
      contextRef="c20200824to20200824"
      id="Fact_d4460d0fdfda40c3b0697f5321c82380">false</dei:SolicitingMaterial>
    <dei:PreCommencementTenderOffer
      contextRef="c20200824to20200824"
      id="Fact_10f1779e93854e7a864fec912dc4e056">false</dei:PreCommencementTenderOffer>
    <dei:PreCommencementIssuerTenderOffer
      contextRef="c20200824to20200824"
      id="Fact_d9b8806b807a4c67a70a53555892b3ac">false</dei:PreCommencementIssuerTenderOffer>
    <dei:Security12bTitle
      contextRef="c20200824to20200824"
      id="Fact_cda0a874b3df4999ae8996490b524a4a">Common stock, no par value</dei:Security12bTitle>
    <dei:TradingSymbol
      contextRef="c20200824to20200824"
      id="Fact_21a6febe96dc4d1eb849f8f858f414b7">TG</dei:TradingSymbol>
    <dei:SecurityExchangeName
      contextRef="c20200824to20200824"
      id="Fact_97641c61974f49a5b9ba4789fef4a0ea">NYSE</dei:SecurityExchangeName>
    <dei:EntityEmergingGrowthCompany
      contextRef="c20200824to20200824"
      id="Fact_49ab51ecd39741719efc6761a49aedbc">false</dei:EntityEmergingGrowthCompany>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>10
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
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</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140057226717272">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th"><div>Aug. 24, 2020</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.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="top.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="top.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="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Aug. 24,  2020<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">TREDEGAR CORP<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">VA<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-10258<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">54-1497771<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">1100 Boulders Parkway<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Richmond<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">VA<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">23225<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">804<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">330-1000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.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="top.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="top.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="top.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="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</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="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000850429<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common stock, no par value<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">TG<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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>
</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_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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>
</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_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.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>
<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:employerIdItemType</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_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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_LocalPhoneNumber</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_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.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="top.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>
</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_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.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="top.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_PreCommencementTenderOffer</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_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.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="top.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_Security12bTitle</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:securityTitleItemType</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_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.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="top.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_SecurityExchangeName</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:edgarExchangeCodeItemType</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_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.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="top.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_SolicitingMaterial</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_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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_TradingSymbol</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:tradingSymbolItemType</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_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.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>
<a href="javascript:void(0);" onclick="top.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_WrittenCommunications</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>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
