Common use of Payments to Employee Clause in Contracts

Payments to Employee. In consideration of Employee’s execution and compliance with this Agreement, NSM agrees to pay Employee a total cash severance in the amount of Six Hundred Thousand Dollars and Zero Cents ($600,000.00). Provided that eight days have elapsed after Employee’s execution of this Agreement and such Agreement has not been revoked by Employee, NSM and Employee agree as follows: (a) Employee shall receive Six Hundred Thousand Dollars and Zero Cents ($600,000.00) (equivalent to 12 months base salary) paid out over 52 weeks (26 consecutive bi-weekly pay periods) (the “Severance Payments”), commencing within 30 days after the Termination Date; (b) Employee’s unvested and vested SARs are forfeited as of the Termination Date; (c) Employee forfeits as of the Termination Date the 49,959 shares of restricted stock granted on December 1, 2014 as part of Employee’s Sign-On Equity Grant and such shares shall not vest on the December 1, 2015, the one year anniversary of the grant date; and (d) Continuation of Employee’s medical coverage under NSM’s medical plan until the earlier of (A) the period of time Employee takes to become eligible for the medical benefits program of a new employer or (B) twelve (12) months from the Termination Date. All payments will be less the required Federal and State payroll tax withholding and other lawful and authorized deductions and conditioned upon continued compliance with this Agreement. Employee’s failure to fully comply with paragraph 2 (Restrictive Covenants), paragraph 7 (Confidentiality), paragraph 8 (Intellectual Property Obligations), paragraph 9 (Post-Termination Xxxxxxx Xxxxxxx Obligations) and paragraph 13 (Non-Disparagement) will result in the immediate cessation of all severance payments and the obligation by Employee to return any severance payments previously paid or otherwise provided to Employee. SEPARATION AGREEMENT AND RELEASE OF ALL CLAIMS - Page 1 of 8 Employee understands and acknowledges that the consideration given pursuant to this Agreement in exchange for the execution of and compliance with this Agreement is given in addition to anything of value to which Employee is, as a matter of law, entitled.

Payments to Employee. In consideration The Company shall pay to Employee “Severance Pay” consisting of Employee’s execution and compliance with this Agreement, NSM agrees to pay Employee a total cash severance in the amount of Six Hundred Thousand Dollars and Zero Cents ($600,000.00). Provided that eight days have elapsed after Employee’s execution of this Agreement and such Agreement has not been revoked by Employee, NSM and Employee agree as follows: (a) Employee shall receive Six Hundred a lump sum payment of Fifty Thousand Dollars and Zero Cents ($600,000.00) (equivalent to 12 months base salary) paid out over 52 weeks (26 consecutive bi-weekly pay periods50,000) (the “Severance Lump Sum Payment”), subject to the Company’s timely receipt of this Agreement executed by Employee and Employee’s not exercising his right of revocation (as described below) of this Agreement; and (b) thirty six (36) monthly payments in the gross amount of Thirty Thousand Forty One Dollars and Sixty Six Cents ($30,041.66) (the “Monthly Payments”), commencing subject to Employee’s satisfying all of the following conditions: (a) the Company’s timely receipt of this Agreement executed by Employee and Employee’s not exercising his right of revocation (as described below) of this Agreement; (b) the Company’s receipt of the Release attached to this Agreement as Appendix A that has been executed by Employee after the Separation Date and delivered to the Company within 30 ten (10) business days after the Termination Separation Date; (b) Employee’s unvested ; and vested SARs are forfeited as of the Termination Date; (c) Employee forfeits as the expiration of the Termination Date seven (7)-day period within which Employee may revoke the 49,959 shares of restricted stock granted on December 1, 2014 as part of Release (the “Revocation Period”) and Employee’s Sign-On Equity Grant and such shares shall not vest on timely revoking the December 1, 2015, the one year anniversary of the grant date; and (d) Continuation of Employee’s medical coverage under NSM’s medical plan until the earlier of Release. Severance Pay will be paid in 2017 as follows: (A) the period of time Employee takes to become eligible for Lump Sum Payment will be paid on the medical benefits program of a new employer or Company’s first regular payroll date in January 2017; and (B) twelve the Monthly Payments will be paid in 2017, 2018 and 2019 on the Company’s regular payroll dates beginning with the first regular payroll date that is a least five (125) months from business days after the Termination DateEffective Date of the Release (as defined in the Release). Each payroll period payment described in this Section 1 shall be treated as a separate payment for purposes of Section 409A of the Internal Revenue Code. All payments will be less the required Federal and State payroll tax withholding and other lawful and authorized deductions and conditioned upon continued compliance with this Agreement. Employee’s failure to fully comply with paragraph 2 (Restrictive Covenants), paragraph 7 (Confidentiality), paragraph 8 (Intellectual Property Obligations), paragraph 9 (Post-Termination Xxxxxxx Xxxxxxx Obligations) and paragraph 13 (Non-Disparagement) will result in the immediate cessation of all severance payments and the obligation by Employee to return any severance payments previously paid or otherwise provided to Employee. SEPARATION AGREEMENT AND RELEASE OF ALL CLAIMS - Page 1 of 8 Employee understands and acknowledges that the consideration given pursuant to this Agreement in exchange for will be subject to all applicable taxes and other lawful withholdings. Any restricted stock or stock option awards to Executive that do not vest by the execution Separation Date shall not vest (“Unvested Equity Awards”). Appendix B to this agreement details vested and unvested restricted stock and options awards as of and compliance with this Agreement is given in addition to anything of value to which Employee is, as a matter of law, entitledthe Separation Date.

Payments to Employee. (a) In consideration exchange for the release provided in Section 3 below, and provided that this Agreement is not revoked in accordance with Section 9(d) below, Employee shall receive the following consideration: (i) Severance Pay, in an amount equal to six (6) months of Employee’s execution current Base Salary. The Severance Pay shall be paid ratably over a six (6) month period following the Separation Date, in accordance with the Company’s then standard payroll practices and compliance procedures and subject to applicable Federal and state tax withholdings, with this Agreementthe payments commencing with the Company’s first regularly scheduled payroll following the Effective Date, NSM agrees to pay Employee a total cash severance as defined in the amount of Six Hundred Thousand Dollars and Zero Cents ($600,000.00). Provided that eight days have elapsed after Employee’s execution of this Agreement and such Agreement has not been revoked by Employee, NSM and Employee agree as follows:Section 9(e) below. (aii) Employee Payment for any earned but unused vacation days for 2014, which amount shall receive Six Hundred Thousand Dollars and Zero Cents be paid within thirty ($600,000.0030) (equivalent to 12 months base salary) paid out over 52 weeks (26 consecutive bi-weekly pay periods) (days following the “Severance Payments”), commencing within 30 days after the Termination Separation Date;. (b) Employee’s unvested and vested SARs are forfeited as The payment of the Termination Date;Severance Pay is expressly conditioned upon Employee observing all covenants contained in the Employment Agreement between the Company and Employee dated October 24, 2006, as amended, that survive termination of that Employment Agreement, including without limitation those set forth in Sections 4, 5, 6, 7, 8, 10, and 11 of the Employment Agreement, and Employee shall forfeit any payment due hereunder in the event of such breach. (c) The payment obligations set forth in Section 2(a) shall constitute the total payment obligations under this Agreement. Accordingly, Employee forfeits as of understands and warrants that no further amount is or shall be due or claimed to be due from the Termination Date the 49,959 shares of restricted stock granted on December 1Company and/or any other person or entity released in Section 3 below with respect to any claim or claims released in Section 3 below, 2014 as part of Employee’s Sign-On Equity Grant including, but not limited to, any and such shares shall not vest on the December 1all claims for attorneys’ fees that Employee may have under any federal, 2015state or local law, the one year anniversary of the grant date; andcommon law or in equity. (d) Continuation of Apart from the payments described above, Employee shall receive all compensation otherwise payable to Employee for services rendered up to and including the Separation Date, including, without limitation, any salary compensation, as well as reimbursement for any business expenses incurred prior to Employee’s medical coverage under NSM’s medical plan until the earlier receipt of (A) the period notice of time Employee takes to become eligible for the medical benefits program of a new employer or (B) twelve (12) months from the Termination Date. All payments will be less the required Federal and State payroll tax withholding and other lawful and authorized deductions and conditioned upon continued compliance with this Agreement. Employee’s failure to fully termination, so long as such expenses comply with paragraph 2 (Restrictive Covenants), paragraph 7 (Confidentiality), paragraph 8 (Intellectual Property Obligations), paragraph 9 (Post-Termination Xxxxxxx Xxxxxxx Obligations) and paragraph 13 (Non-Disparagement) will result in the immediate cessation Company’s policies regarding the reimbursement of all severance payments and the obligation by Employee to return any severance payments previously paid or otherwise provided to Employee. SEPARATION AGREEMENT AND RELEASE OF ALL CLAIMS - Page 1 of 8 Employee understands and acknowledges that the consideration given pursuant to this Agreement in exchange for the execution of and compliance with this Agreement is given in addition to anything of value to which Employee is, as a matter of law, entitledbusiness expenses.

Payments to Employee. In consideration of Employee’s execution and compliance with (a) Provided this Agreement, NSM agrees to pay Employee a total cash severance in the amount of Six Hundred Thousand Dollars and Zero Cents ($600,000.00). Provided that eight days have elapsed after Employee’s execution of this Agreement and such Agreement has not been revoked by Employeepursuant to Section 3(e), NSM and Employee agree as follows: (a) the Employee shall receive Six Hundred Thousand Dollars and Zero Cents ($600,000.00) (equivalent be entitled to 12 months base salary) paid out over 52 weeks (26 consecutive bi-weekly pay periods) (the “Severance PaymentsPayments and Benefits”)): (i) the continuation of his base salary, commencing within 30 days after at the rate in effect as of the date hereof, for the period beginning on the date hereof and ending on the Termination Date, payable in accordance with the Companies’ normal payroll practices; (ii) the continuation of his health care benefits until the expiration of the Consulting Period (as defined below), with the Employee’s right to elect continuing health care under COBRA to commence at the end of the Consulting Period; (iii) receive an amount in cash equal to approximately three (3) weeks of earned but unused vacation days, such amount to be paid no later than January 31, 2006; and (iv) receive an annual performance bonus for 2005 on the same terms that it would have been paid had his employment not been terminated pursuant to this Agreement, payable at such time as bonuses are paid to members of senior management generally. (b) It is agreed that the Companies’ obligations to pay the Payments and Benefits and the Consulting Fee shall be conditioned upon: (i) the Employee’s unvested continued compliance with his obligations under this Agreement and vested SARs are forfeited the Noncompetition Agreement between the Companies and the Employee, dated as of the date hereof (the “Noncompetition Agreement”); (ii) the Employee’s purchase of $150,000 shares of common stock of Pregis I at a price of $10,000 per share in connection with Pregis I’s Employee Stock Purchase Plan, pursuant to the Subscription Agreement, substantially in the form attached hereto as Exhibit A, as modified in respect of directors and consultants (the “Subscription Agreement”); and (iii) the Employee’s execution on the Termination Date, delivery on the Termination Date and non-revocation of a valid and enforceable general release of claims, effective as of the Termination Date; (c) Employee forfeits as of the Termination Date the 49,959 shares of restricted stock granted on December 1, 2014 as part of Employee’s Sign-On Equity Grant and such shares shall not vest on the December 1, 2015, the one year anniversary of the grant date; and (d) Continuation of Employee’s medical coverage under NSM’s medical plan until the earlier of (A) the period of time Employee takes to become eligible for the medical benefits program of a new employer or (B) twelve (12) months from the Termination Date. All payments will be less the required Federal and State payroll tax withholding and other lawful and authorized deductions and conditioned upon continued compliance with this Agreement. Employee’s failure to fully comply with paragraph 2 (Restrictive Covenants), paragraph 7 (Confidentiality), paragraph 8 (Intellectual Property Obligations), paragraph 9 (Post-Termination Xxxxxxx Xxxxxxx Obligations) and paragraph 13 (Non-Disparagement) will result substantially in the immediate cessation of all severance payments and the obligation by Employee to return any severance payments previously paid or otherwise provided to Employee. SEPARATION AGREEMENT AND RELEASE OF ALL CLAIMS - Page 1 of 8 Employee understands and acknowledges that the consideration given pursuant to this Agreement in exchange for the execution of and compliance with this Agreement is given in addition to anything of value to which Employee is, form attached hereto as a matter of law, entitled.Exhibit B.

Payments to Employee. In partial consideration for the promises of Employee’s execution and compliance with this AgreementEMPLOYEE set forth herein, NSM agrees RELIANT to pay Employee a total cash severance EMPLOYEE the amounts set forth in Sections 4(a) and 4(b) below on the terms described in this Section 4: a. One Hundred Fourteen Thousand Five Hundred Eighty Three Dollars and No Cents ($114,583.00) to be paid in ten (10) equal installments of Eleven Thousand Four Hundred Fifty Eight Dollars and 30/100 beginning with the second regularly pay period following the Termination Date. Initials: 1 Initials: b. An amount of Six Hundred not to exceed Fifty Thousand Dollars and Zero No Cents ($600,000.0050,000.00) to be determined by the Compensation Committee of the Board of Directors of Reliant in its discretion following input from senior management of Reliant and based on certain product related regulatory initiatives for which Employee was responsible during his employment with RELIANT and EMPLOYEE’S compliance with Section 11 below, to be paid (if at all) at such time as bonuses for 2005 are paid to members of RELIANT’S senior management (but no later than March 15, 2006). Provided ; provided that eight days have elapsed after Employee’s execution the payment described in this Section 2(c) shall be subject to the mandatory prepayment terms of this Agreement and such Agreement has not been revoked by Employeethat certain Secured Promissory Note dated as of February 28, NSM and Employee agree 2001 (as follows: (a) Employee shall receive Six Hundred Thousand Dollars and Zero Cents ($600,000.00) (equivalent amended from time to 12 months base salary) paid out over 52 weeks (26 consecutive bi-weekly pay periods) (time, the “Severance Payments83(b) Note”), commencing within 30 days ) made by EMPLOYEE in favor of RELIANT in the original principal amount of $200,000. c. The payments made pursuant to this Section 4 shall be (i) reduced by statutorily required deductions and (ii) made in accordance with RELIANT’s normal payroll practices. d. RELIANT will make the above-stated payments to EMPLOYEE notwithstanding any set-off agreements which may have previously existed between RELIANT and EMPLOYEE and regardless of whether he obtains any employment or income from any other source after the Termination Date;. (b) Employee’s unvested and vested SARs are forfeited as of the Termination Date; (c) Employee forfeits as of the Termination Date the 49,959 shares of restricted stock granted on December 1, 2014 as part of Employee’s Sign-On Equity Grant and such shares shall not vest on the December 1, 2015, the one year anniversary of the grant date; and (d) Continuation of Employee’s medical coverage under NSM’s medical plan until the earlier of (A) the period of time Employee takes to become eligible for the medical benefits program of a new employer or (B) twelve (12) months from the Termination Date. All e. The payments will be less the required Federal and State payroll tax withholding and other lawful and authorized deductions and conditioned upon continued compliance with this Agreement. Employee’s failure to fully comply with paragraph 2 (Restrictive Covenants), paragraph 7 (Confidentiality), paragraph 8 (Intellectual Property Obligations), paragraph 9 (Post-Termination Xxxxxxx Xxxxxxx Obligations) and paragraph 13 (Non-Disparagement) will result in the immediate cessation of all severance payments and the obligation by Employee to return any severance payments previously paid or otherwise provided to Employee. SEPARATION AGREEMENT AND RELEASE OF ALL CLAIMS - Page 1 of 8 Employee understands and acknowledges that the consideration given made pursuant to this Section 4 shall not be matched by RELIANT or otherwise considered compensation to EMPLOYEE for purposes of RELIANT’s 401(k) or other benefit plans. f. Other than as set forth herein, RELIANT is not obligated to pay EMPLOYEE any other compensation. g. RELIANT shall not be obligated to make any of the payments set forth herein if EMPLOYEE breaches this Agreement in exchange for any material way or revokes it pursuant to Section 28 herein. If EMPLOYEE breaches the execution provisions of and compliance with Sections 6 or 7 of this Agreement is given or the sections of the Employment Agreement (as defined below) that are listed in addition Section 24 hereof, he shall be obligated to anything of value to which Employee isrepay RELIANT all amounts paid under this Section 4, as a matter of law, entitledother than $100 thereof.