CLARIFICATION ON EVERGREEN ELECTIONS. Effective for purposes of clarifying [Section 4.2(c)], [Section 4.2(c)] of the Plan Statement shall be amended to read in full as follows:

Evergreen Election. A Director’s deferral election for a Plan Year beginning on or after ​ shall apply to all subsequent Plan Years during which the Director is eligible to participate in the Plan unless and to the extent such election is revoked and/or a new and different election is made by the Director, no later than the deadline applicable under paragraph # above to such subsequent Plan Year.

Elections. All elections and notices of any kind hereunder shall be in writing and provided to the Secretary of the Company in a form prescribed by the Secretary. Unless marked as irrevocable, an election may be modified or revoked at any time prior to, and shall not be effective until, the deadline for making such election.

Elections. Any election under this Paragraph 8.9 shall be in writing on a form approved by the Committee, shall be filed in accordance with such procedures as the Committee shall establish and shall be subject to the written consent of the Eligible Participant’s spouse (as defined in Paragraph 8.1(e)) in accordance with the provisions of Paragraph 8.1(f), if applicable. If an Eligible Participant who has filed an election under this Paragraph 8.9 becomes legally married prior to the Early Distribution Date, such election shall be subject to such spousal consent requirements.

“No deferrals will be permitted for Compensation and Performance Share Awards earned after ​. As clarification, deferral elections made for Compensation and/or Performance Share Awards attributable to services performed during the 2019 calendar year will remain effective, but subsequent deferrals will not be permitted.”

specified calendar year under method # above results in an Evergreen Payment Election of 2018, the deemed Evergreen Payment Election for that the 2017 Plan Year shall be a lump sum payment following zero years after the Participant’s Termination of Employment). The Evergreen Payment Election shall be irrevocable for the Plan Year. For the avoidance of doubt, Participants are able to prevent an Evergreen Payment Election as described in this Subsection by making an affirmative payment election under [Section 2.8(a)(i)(B)].”

PACTIV EVERGREEN GROUP HOLDINGS INC.

Deferral Elections. At any time within the 30-day period (or other shorter or longer period that the Committee selects in its sole discretion) in which a Participant who is a member of a select group of management or highly compensated employees (within the meaning of the Code) receives an Award of Restricted Share Units (or before the calendar year in which such a Participant receives a subsequent Award, subject to adjustments by the Committee in accordance with Code Section 409A), the Committee may permit the Participant to irrevocably elect, on a form provided by and acceptable to the Committee, to defer the receipt of all or a percentage of the Shares that would otherwise be transferred to the Participant upon the vesting of such Award more than 12 months after the date of the Participant’s deferral election. If the Participant makes this election, the Shares subject to the election, and any associated dividends and interest, shall be credited to an account established pursuant to Section 9 on the date such Shares would otherwise have been released or issued to the Participant pursuant to Section 8(d) and no vesting shall occur (other than for death or Disability if provided pursuant to the Award Agreement) within the 12-month period following the date of the Participant’s election.

Deferral Elections. A Director may elect to defer payment of all or a specified portion of any Eligible Compensation by filing a written election with the Company on a form prescribed by the Company as follows (such an election, a “Deferral Election”):

Default Elections. If a Participant fails to specify the date on which payment of the deferred amount and any HP Matching Contributions for the Plan Year (and earnings thereon) is to commence, then Participant will be deemed to have elected distribution at Participant’s Termination Date, subject to Sections 5.3 or 5.4 below. If a Participant fails to make an effective payment form designation on a Deferral Form, the amount deferred and any HP Matching Contributions for the Plan Year (and earnings thereon) under such Deferral Form will be distributed in a single lump sum in the year elected.