THIS AGREEMENT CONTAINS A MANDATORY ARBITRATION PROVISION AND IS SUBJECT TO BINDING ARBITRATION SONOCO PRODUCTS COMPANY EXECUTIVE OFFICER SEVERANCE PLANAgreement • February 28th, 2023 • Sonoco Products Co • Paperboard containers & boxes • South Carolina
This Plan supersedes any and all prior plans, policies or practices, written or oral, which may have previously applied governing the payment of severance benefits to Eligible Employees. Notwithstanding the preceding, the establishment of the Plan shall not affect or modify the rights of an Eligible Employee with respect to change-in-control severance benefits under the Sonoco Products Company Change-in-Control Plan (“CIC Plan”). In no event may an Eligible Employee receive severance benefits under both this Plan and the CIC Plan. If an Eligible Employee has a Termination of Employment that would give rise to the change-in-control severance benefits under the CIC Plan, then the CIC Plan and not this Plan shall govern the severance benefits payable to such Eligible Employee. In addition, the establishment of this Plan does not nullify or replace any non-competition, release of claims or other agreements between the Company and any of its employees or former employees entered into in con
