Exhibit 10.6
March 27, 2023
Byron J. Racki
5955 Whitestone Lane
Suwanee, Georgia 30024
Re: Transaction Bonus Agreement Dear Byron,
As you know, the completion of the recently-announced restructuring (the "Restructuring")
of the Beverage Merchandising business unit of Pactiv Evergreen Group Holdings Inc. (the "Company”) is a critical component of the Company's strategic plan and its future success. The Company requires your assistance as it prepares for and implements the Restructuring. To that end, the Company is offering you a special transaction bonus in connection with the Restructuring that will become payable as set forth below.
This offer will remain open until March 31, 2023, after which time it will be rescinded and you will no longer have the opportunity to accept the terms and conditions of the Transaction Bonus.
For purposes of this paragraph, a "Pine Bluff Sale" occurs on the closing date of a transaction involving the sale to an unaffiliated third party of all or substantially all of the assets associated with the Company’s Pine Bluff, Arkansas paper mill located at 4104 Emmett Sanders Road, Pine Bluff, Arkansas 71601.
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Exhibit 10.6
If you wish to accept the Bonus on the conditions set forth herein, please so indicate by signing below and returning this letter to the undersigned.
Yours truly,
PACTIV EVERGREEN GROUP HOLDINGS INC.
By: /s/ J.D. Bowlin
Name: J.D. Bowlin
Title: Authorized Signatory
Agreed to and Accepted by:
/s/ Byron J. Racki 3/28/23
Byron J. Racki Date