BWAY Corporation Letterhead] January 4, 2010 Mr. Michael B. Clauer Re: Separation Pay Agreement Dear Mike:Letter Agreement • January 7th, 2010 • BWAY Holding CO • Metal cans • Illinois
The purpose of this letter agreement (the "Agreement") is to set forth the terms upon which you may be entitled to certain benefits upon termination of your employment with BWAY Corporation (the "Company"). The Company agrees to provide the following benefits to you in exchange for your continued employment with the Company. Specifically, you ("You" or "Your") and the Company (collectively, the "Parties") agree:
