Exhibit 10.22
AMENDMENT TO EMPLOYMENT AGREEMENT
This AMENDMENT, dated as of March 18, 2003, is entered into by and between Riverwood Holding,
Inc., a Delaware Corporation (“ Holding ”), Riverwood International Corporation, a Delaware corporation (“
Employer ”) and Steven D. Saucier (“Executive”).
W I T N E S S E T H :
WHEREAS, the Executive, Holding and the Employer are parties to an Employment Agreement, as
amended, dated as of November 1, 1998 (“ Employment Agreement ”);
WHEREAS, the Executive, Holding and the Employer wish to amend certain the provision of the
Employment Agreement addressing Executive’s commitment to purchase shares of common stock, par value
$.01, per share, of Holding.
NOW, THEREFORE, the Executive, Holding and the Employer, for good and valid consideration, agree
as follows:
1. Amendment to Section 4(b)(ii) . Section 4(b)(ii) of the Employment Agreement is hereby amended
and restated in its entirety to read as follows:
“(ii) On the date the Company pays its annual bonus for each of 1999 and 2000, Executive
shall, and hereby agrees to, apply the lesser of ( A ) the after-tax proceeds paid to him of such annual
bonus payment less an amount sufficient to cover any income or employment tax consequences of his
purchase of the Shares pursuant to this paragraph in the event his purchase price is less than the fair
market value of the Shares at the time of purchase (such tax calculations to be determined by an
accountant or other advisor to the Executive and as if Executive is subject to the highest marginal
income tax rates for federal, state and local tax purposes that are applicable to Executive at such time
(and taking into account the deductibility of state and local income taxes for federal income tax
purposes), and including, FICA/FUTA and all other similar taxes and ( B ) the aggregate purchase
price of such shares of his Equity Commitment that remains unpurchased, to the purchase of any
shares of h