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  <p align="center" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED
  STATES</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES
  AND EXCHANGE COMMISSION</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington,
  D.C. 20549</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT REPORT</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant to Section&nbsp;13 or 15(d)&nbsp;of
  the Securities Exchange Act of 1934</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date
  of Report (Date of earliest event reported):<b> May&nbsp;20,
  2008</b></font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SEALED AIR CORPORATION</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact
  Name of Registrant as Specified in its Charter)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delaware</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1-12139</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">65-0654331</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State
    or Other<br>
    Jurisdiction of Incorporation)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission<br>
    File Number)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS
    Employer<br>
    Identification No.)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="63%" valign="top" style="padding:0in 0in 0in 0in;width:63.08%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">200 Riverfront Boulevard</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="34%" valign="top" style="padding:0in 0in 0in 0in;width:34.58%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="63%" valign="top" style="padding:0in 0in 0in 0in;width:63.08%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Elmwood Park, New Jersey</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="34%" valign="top" style="padding:0in 0in 0in 0in;width:34.58%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">07407</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="63%" valign="top" style="padding:0in 0in 0in 0in;width:63.08%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address
    of Principal Executive Offices)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="34%" valign="top" style="padding:0in 0in 0in 0in;width:34.58%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Zip
    Code)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registrant&#146;s
  telephone number, including area code: <b>201-791-7600</b></font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Not
  Applicable</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Former
  Name or Former Address, If Changed Since Last Report)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box
  below if the Form&nbsp;8-K filing is intended to simultaneously satisfy the
  filing obligation of the registrant under any of the following provisions:</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
    </td>
    <td width="672" valign="top" style="padding:0in 0in 0in 0in;width:7.0in;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Written communications pursuant to Rule&nbsp;425 under the Securities
    Act (17 CFR 230.425)</font></p>
    </td>
   </tr>
   <tr>
    <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="672" valign="top" style="padding:0in 0in 0in 0in;width:7.0in;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
    </td>
    <td width="672" valign="top" style="padding:0in 0in 0in 0in;width:7.0in;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange
    Act (17 CFR 240.14a-12)</font></p>
    </td>
   </tr>
   <tr>
    <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="672" valign="top" style="padding:0in 0in 0in 0in;width:7.0in;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
    </td>
    <td width="672" valign="top" style="padding:0in 0in 0in 0in;width:7.0in;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pre-commencement communications pursuant to
    Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
    </td>
   </tr>
   <tr>
    <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="672" valign="top" style="padding:0in 0in 0in 0in;width:7.0in;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
    </td>
    <td width="672" valign="top" style="padding:0in 0in 0in 0in;width:7.0in;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pre-commencement communications pursuant to
    Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\jtam\08-15185-1\task2958176\15185-1-ba.htm',USER='jtam',CD='May 23 16:50 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 5.02&#160;&#160;&#160;&#160;&#160;&#160;&#160; Departure of Directors or Certain
  Officers; Election of Directors; Appointment of Certain Officers; Compensatory
  Arrangements of Certain Officers.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Amended 2005 Contingent Stock Plan of Sealed Air
  Corporation.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">At the annual meeting of stockholders of Sealed Air
  Corporation (the &#147;Company&#148;) held on May&nbsp;20, 2008, the Company&#146;s stockholders
  approved the Amended 2005 Contingent Stock Plan of Sealed Air Corporation.</font></p>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Three years earlier, the Company&#146;s stockholders
  approved the original 2005 Contingent Stock Plan of Sealed Air Corporation (the
  &#147;2005 Contingent Stock Plan&#148;). The 2005 Contingent Stock Plan provides for
  awards of equity-based compensation, including restricted stock, restricted
  stock units, performance share units and cash awards measured by share price,
  to executive officers and other key employees of the Company and its
  subsidiaries, as well as to U.S.-based key consultants to the Company. The 2005
  Contingent Stock Plan is intended to provide and has provided an incentive to
  permit those officers, employees and consultants responsible for the Company&#146;s
  growth to share directly in that growth, to motivate them by means of
  appropriate incentives to achieve the Company&#146;s long-range goals, and to
  further the identity of their interests with those of the stockholders of the
  Company.</font></p>
  
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Compensation Committee of
  the Company&#146;s Board of Directors and the full Board determined, subject to
  stockholder approval at the 2008 annual meeting, to continue the operation of
  the 2005 Contingent Stock Plan by authorizing 3,000,000 additional shares of common
  stock for awards under the 2005 Contingent Stock Plan and making other
  amendments to the 2005 Contingent Stock Plan that will accommodate awards to be
  made under the Company&#146;s new executive compensation program. Under the new
  executive compensation program, the Company intends to grant stock leverage
  opportunity awards (as part of the Company&#146;s annual incentive plan) and annual
  performance share unit awards (as part of the Company&#146;s long term incentive
  program) to the Company&#146;s executive officers and a small number of other key
  executives. Other employees of the Company will continue to be eligible to
  receive awards of restricted stock, restricted stock units and cash awards
  consistent with past practice as long term incentive compensation. The Company&#146;s
  executive officers and other key executives may also receive awards of
  restricted stock or restricted stock units from time to time.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Amended 2005 Contingent
  Stock Plan of Sealed Air Corporation is included as Exhibit&nbsp;10.1 to this
  Current Report on Form&nbsp;8-K and is incorporated herein by reference.&#160; Also, attached hereto and incorporated by
  reference are the </font><font size="2" style="font-size:10.0pt;">Form&nbsp;of
  Sealed Air Corporation Performance Share Units Award Grant 2008-2009 (Exhibit&nbsp;10.2)
  and the Form&nbsp;of Sealed Air Corporation Performance Share Units Award Grant
  2008-2010 (Exhibit&nbsp;10.3).&#160; These
  forms of award grants specify the recipient, target award, performance goals,
  and other important information regarding the </font><font size="2" style="font-size:10.0pt;">annual performance share
  unit awards discussed above</font><font size="2" style="font-size:10.0pt;">. During the first 90 days of 2008, the Compensation Committee
  established performance share units award target levels for the 2008-2009 and
  the 2008-2010 performance periods for executive officers of the Company that
  were &#147;named executive officers&#148; for whom disclosure was required in the
  Company&#146;s proxy statement for the 2008 annual meeting.&#160; These awards were subject to stockholder
  approval of the Amended 2005 Contingent Stock Plan at the meeting.&#160; Information regarding performance share units
  awards can be found on pages 39 and 40 of the proxy statement.&#160; Such information is incorporated herein by
  reference from Exhibit 10.4 to this Current Report on Form 8-K.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:35.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Amended
  </font><font size="2" style="font-size:10.0pt;">Performance-Based Compensation Program of Sealed Air Corporation.</font></p>
  
  <p style="margin:0in 0in .0001pt .75in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Also at the 2008 annual
  meeting, the Company&#146;s stockholders approved the </font><font size="2" style="font-size:10.0pt;">Amended </font><font size="2" style="font-size:10.0pt;">Performance-Based
  Compensation Program of Sealed Air Corporation.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In 2000, the Company&#146;s Board of Directors adopted and the stockholders
  approved the Performance-Based Compensation Program of Sealed Air Corporation
  in order to provide the Company&#146;s executive officers with incentive
  compensation that meets the requirements of performance-based compensation
  under Section&nbsp;162(m)&nbsp;and thus is fully deductible for U.S. income tax
  purposes. The stockholders most recently approved the program in 2005. In early
  2008, the Compensation Committee adopted amendments to the program, subject to
  approval of the amended program by the stockholders at the 2008 annual meeting.
  The program as amended provides for cash awards in the form of annual cash
  bonuses and awards of common stock under the Company&#146;s Amended 2005 Contingent
  Stock Plan. &#160;Eligible employees under the
  program are the Company&#146;s Chief Executive Officer, the other most highly
  compensated executive officers and other key employees selected by the
  Compensation Committee, which has been designated to establish and administer
  performance goals under the Program. Under the amended program, awards may be
  based on the attainment of goals regarding one or more of a number of criteria,
  which are outlined in the amended program.&#160;
  The </font><font size="2" style="font-size:10.0pt;">Amended </font><font size="2" style="font-size:10.0pt;">Performance-Based
  Compensation Program of Sealed Air Corporation is included as Exhibit&nbsp;10.5
  to this Current Report on Form&nbsp;8-K and is incorporated herein by
  reference.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\jtam\08-15185-1\task2958176\15185-1-ba.htm',USER='jtam',CD='May 23 16:50 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160; Financial Statements and Exhibits.</font></p>
  
  <p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="2" style="font-size:10.0pt;">&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Exhibits.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="7%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:7.34%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit<br>
    Number</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.66%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="90%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:90.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="7%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:7.34%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.1</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="90%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:90.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2005 Contingent Stock Plan
    of Sealed Air Corporation, as Amended. (Annex&nbsp;D to the Company&#146;s Proxy
    Statement for the 2008 Annual Meeting of Stockholders, File No.&nbsp;1-12139,
    is incorporated herein by reference.)*</font></p>
    </td>
   </tr>
   <tr>
    <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.2</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="90%" valign="top" style="padding:0in 0in 0in 0in;width:90.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form&nbsp;of Sealed Air Corporation Performance
    Share Units Award Grant 2008-2009.*</font></p>
    </td>
   </tr>
   <tr>
    <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.3</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="90%" valign="top" style="padding:0in 0in 0in 0in;width:90.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form&nbsp;of Sealed Air Corporation Performance
    Share Units Award Grant 2008-2010.*</font></p>
    </td>
   </tr>
   <tr>
    <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.4</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="90%" valign="top" style="padding:0in 0in 0in 0in;width:90.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Performance Share Unit Awards information.&nbsp; (Such information contained on pages 39 and
    40 of the Company&#146;s Proxy Statement for the 2008 Annual Meeting of
    Stockholders, File No. 1-12139, is incorporated herein by reference.)*</font></p>
    </td>
   </tr>
   <tr>
    <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.34%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.5</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="90%" valign="top" style="padding:0in 0in 0in 0in;width:90.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Performance-Based
    Compensation Program of Sealed Air Corporation, as Amended. (Annex&nbsp;E to
    the Company&#146;s Proxy Statement for the 2008 Annual Meeting of Stockholders,
    File No.&nbsp;1-12139, is incorporated herein by reference.)*</font></p>
    </td>
   </tr>
  </table>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="48" valign="top" style="padding:0in 0in 0in 0in;width:.5in;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></p>
    </td>
    <td width="672" valign="top" style="padding:0in 0in 0in 0in;width:7.0in;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Compensatory plan or
    arrangement of management required to be filed as an exhibit to this report
    on Form&nbsp;8-K.</font></p>
    </td>
   </tr>
  </table>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Cautionary Notice Regarding
  Forward Looking Statements</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Some of the statements made
  by the Company in, or incorporated by reference in, this Current Report on Form&nbsp;8-K
  are forward-looking.&#160; These statements
  include comments as to future events and trends affecting the Company&#146;s
  business, which are based upon management&#146;s current expectations and are
  necessarily subject to risks and uncertainties, many of which are outside the
  control of the Company.&#160; Forward-looking
  statements can be identified by such words as &#147;anticipates,&#148; &#147;estimates,&#148; &#147;expects,&#148;
  &#147;intends,&#148; &#147;plans,&#148; &#147;will&#148; and similar expressions.&#160; The following are important factors that the
  Company believes could cause actual results to differ materially from those in
  the Company&#146;s forward-looking statements: changes in raw material and energy
  costs; market conditions; the success of the Company&#146;s growth, profitability
  and global manufacturing strategies; the effects of animal and food-related
  health issues; tax, interest and exchange rates; and legal proceedings.&#160; A more extensive list and description of
  these and other such factors can be found under the headings &#147;Risk Factors&#148; and
  &#147;Cautionary Notice Regarding Forward-Looking Statements,&#148; which appear in the
  Company&#146;s most recent Annual Report on Form&nbsp;10-K or Quarterly Report on Form&nbsp;10-Q,
  as filed with the Securities and Exchange Commission.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\jtam\08-15185-1\task2958176\15185-1-ba.htm',USER='jtam',CD='May 23 16:50 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURE</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements
  of the Securities Exchange Act of 1934, the Registrant has duly caused this
  report to be signed on its behalf by the undersigned, hereunto duly authorized.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="36%" valign="top" style="padding:0in 0in 0in 0in;width:36.26%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.9%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.84%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SEALED AIR CORPORATION</font></p>
    </td>
   </tr>
   <tr>
    <td width="36%" valign="top" style="padding:0in 0in 0in 0in;width:36.26%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.9%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.84%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="36%" valign="top" style="padding:0in 0in 0in 0in;width:36.26%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.9%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.84%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="36%" valign="top" style="padding:0in 0in 0in 0in;width:36.26%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.9%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.26%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
    </td>
    <td width="43%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:43.58%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ H. Katherine White</font></p>
    </td>
   </tr>
   <tr>
    <td width="36%" valign="top" style="padding:0in 0in 0in 0in;width:36.26%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.9%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.26%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
    </td>
    <td width="43%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:43.58%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">H. Katherine White</font></p>
    </td>
   </tr>
   <tr>
    <td width="36%" valign="top" style="padding:0in 0in 0in 0in;width:36.26%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.9%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.26%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
    </td>
    <td width="43%" valign="top" style="padding:0in 0in 0in 0in;width:43.58%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President, General
    Counsel and Secretary</font></p>
    </td>
   </tr>
  </table>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: May&nbsp;23, 2008</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\jtam\08-15185-1\task2958176\15185-1-ba.htm',USER='jtam',CD='May 23 16:50 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT&nbsp;INDEX</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="7%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:7.08%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit<br>
    Number</font></b></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.1%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="89%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:89.84%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="7%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:7.08%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.1</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.1%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="89%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:89.84%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2005 Contingent Stock Plan
    of Sealed Air Corporation, as Amended. (Annex&nbsp;D to the Company&#146;s Proxy
    Statement for the 2008 Annual Meeting of Stockholders, File No.&nbsp;1-12139,
    is incorporated herein by reference.)*</font></p>
    </td>
   </tr>
   <tr>
    <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.08%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.2</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.1%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.84%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form&nbsp;of Sealed Air Corporation Performance
    Share Units Award Grant 2008-2009.*</font></p>
    </td>
   </tr>
   <tr>
    <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.08%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.3</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.1%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.84%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form&nbsp;of Sealed Air Corporation Performance
    Share Units Award Grant 2008-2010.*</font></p>
    </td>
   </tr>
   <tr>
    <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.08%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.4</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.1%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.84%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Performance Share Unit Awards information.&nbsp; (Such information contained on pages 39 and
    40 of the Company&#146;s Proxy Statement for the 2008 Annual Meeting of
    Stockholders, File No. 1-12139, is incorporated herein by reference.)*</font></p>
    </td>
   </tr>
   <tr>
    <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.08%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.5</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in 0in 0in 0in;width:3.1%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.84%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Performance-Based
    Compensation Program of Sealed Air Corporation, as Amended. (Annex&nbsp;E to
    the Company&#146;s Proxy Statement for the 2008 Annual Meeting of Stockholders,
    File No.&nbsp;1-12139, is incorporated herein by reference.)*</font></p>
    </td>
   </tr>
  </table>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Compensatory
  plan or arrangement of management required to be filed as an exhibit to this
  report on Form&nbsp;8-K.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "a08-15185_18k.htm", "description": "8-K", "secsgml_size_bytes": 46812}]
metadata_filer: {"company-data": {"conformed-name": "SEALED AIR CORP/DE", "cik": "0001012100", "assigned-sic": "2670", "irs-number": "650654331", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-12139", "film-number": "08858951"}, "business-address": {"street1": "200 RIVERFRONT BOULEVARD", "city": "ELMWOOD PARK", "state": "NJ", "zip": "07407-1033", "phone": "201-791-7600"}, "mail-address": {"street1": "200 RIVERFRONT BOULEVARD", "city": "ELMWOOD PARK", "state": "NJ", "zip": "07407-1033"}, "former-company": [{"former-conformed-name": "WR GRACE & CO/DE", "date-changed": "19961015"}, {"former-conformed-name": "GRACE HOLDING INC", "date-changed": "19960805"}]}
text: UNITED
  STATES
  SECURITIES
  AND EXCHANGE COMMISSION
  Washington,
  D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of
  the Securities Exchange Act of 1934
  Date
  of Report (Date of earliest event reported):
  May 20,
  2008
  SEALED AIR CORPORATION
  (Exact
  Name of Registrant as Specified in its Charter)
  Delaware
  1-12139
  65-0654331
  (State
    or Other
  Jurisdiction of Incorporation)
  (Commission
  File Number)
  (IRS
    Employer
  Identification No.)
  200 Riverfront Boulevard
  Elmwood Park, New Jersey
  07407
  (Address
    of Principal Executive Offices)
  (Zip
    Code)
  Registrant's
  telephone number, including area code:
  201-791-7600
  Not
  Applicable
  (Former
  Name or Former Address, If Changed Since Last Report)
  Check the appropriate box
  below if the Form 8-K filing is intended to simultaneously satisfy the
  filing obligation of the registrant under any of the following provisions:
  o
  Written communications pursuant to Rule 425 under the Securities
    Act (17 CFR 230.425)
  o
  Soliciting material pursuant to Rule 14a-12 under the Exchange
    Act (17 CFR 240.14a-12)
  o
  Pre-commencement communications pursuant to
    Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  o
  Pre-commencement communications pursuant to
    Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Item 5.02        Departure of Directors or Certain
  Officers; Election of Directors; Appointment of Certain Officers; Compensatory
  Arrangements of Certain Officers.
  1.            Amended 2005 Contingent Stock Plan of Sealed Air
  Corporation.
  At the annual meeting of stockholders of Sealed Air
  Corporation (the "Company") held on May 20, 2008, the Company's stockholders
  approved the Amended 2005 Contingent Stock Plan of Sealed Air Corporation.
  Three years earlier, the Company's stockholders
  approved the original 2005 Contingent Stock Plan of Sealed Air Corporation (the
  "2005 Contingent Stock Plan"). The 2005 Contingent Stock Plan provides for
  awards of equity-based compensation, including restricted stock, restricted
  stock units, performance share units and cash awards measured by share price,
  to executive officers and other key employees of the Company and its
  subsidiaries, as well as to U.S.-based key consultants to the Company. The 2005
  Contingent Stock Plan is intended to provide and has provided an incentive to
  permit those officers, employees and consultants responsible for the Company's
  growth to share directly in that growth, to motivate them by means of
  appropriate incentives to achieve the Company's long-range goals, and to
  further the identity of their interests with those of the stockholders of the
  Company.
  The Compensation Committee of
  the Company's Board of Directors and the full Board determined, subject to
  stockholder approval at the 2008 annual meeting, to continue the operation of
  the 2005 Contingent Stock Plan by authorizing 3,000,000 additional shares of common
  stock for awards under the 2005 Contingent Stock Plan and making other
  amendments to the 2005 Contingent Stock Plan that will accommodate awards to be
  made under the Company's new executive compensation program. Under the new
  executive compensation program, the Company intends to grant stock leverage
  opportunity awards (as part of the Company's annual incentive plan) and annual
  performance share unit awards (as part of the Company's long term incentive
  program) to the Company's executive officers and a small number of other key
  executives. Other employees of the Company will continue to be eligible to
  receive awards of restricted stock, restricted stock units and cash awards
  consistent with past practice as long term incentive compensation. The Company's
  executive officers and other key executives may also receive awards of
  restricted stock or restricted stock units from time to time.
  The Amended 2005 Contingent
  Stock Plan of Sealed Air Corporation is included as Exhibit 10.1 to this
  Current Report on Form 8-K and is incorporated herein by reference.  Also, attached hereto and incorporated by
  reference are the
  Form of
  Sealed Air Corporation Performance Share Units Award Grant 2008-2009 (Exhibit 10.2)
  and the Form of Sealed Air Corporation Performance Share Units Award Grant
  2008-2010 (Exhibit 10.3).  These
  forms of award grants specify the recipient, target award, performance goals,
  and other important information regarding the
  annual performance share
  unit awards discussed above
  . During the first 90 days of 2008, the Compensation Committee
  established performance share units award target levels for the 2008-2009 and
  the 2008-2010 performance periods for executive officers of the Company that
  were "named executive officers" for whom disclosure was required in the
  Company's proxy statement for the 2008 annual meeting.  These awards were subject to stockholder
  approval of the Amended 2005 Contingent Stock Plan at the meeting.  Information regarding performance share units
  awards can be found on pages 39 and 40 of the proxy statement.  Such information is incorporated herein by
  reference from Exhibit 10.4 to this Current Report on Form 8-K.
  2.
  Amended
  Performance-Based Compensation Program of Sealed Air Corporation.
  Also at the 2008 annual
  meeting, the Company's stockholders approved the
  Amended
  Performance-Based
  Compensation Program of Sealed Air Corporation.
  In 2000, the Company's Board of Directors adopted and the stockholders
  approved the Performance-Based Compensation Program of Sealed Air Corporation
  in order to provide the Company's executive officers with incentive
  compensation that meets the requirements of performance-based compensation
  under Section 162(m) and thus is fully deductible for U.S. income tax
  purposes. The stockholders most recently approved the program in 2005. In early
  2008, the Compensation Committee adopted amendments to the program, subject to
  approval of the amended program by the stockholders at the 2008 annual meeting.
  The program as amended provides for cash awards in the form of annual cash
  bonuses and awards of common stock under the Company's Amended 2005 Contingent
  Stock Plan.  Eligible employees under the
  program are the Company's Chief Executive Officer, the other most highly
  compensated executive officers and other key employees selected by the
  Compensation Committee, which has been designated to establish and administer
  performance goals under the Program. Under the amended program, awards may be
  based on the attainment of goals regarding one or more of a number of criteria,
  which are outlined in the amended program. 
  The
  Amended
  Performance-Based
  Compensation Program of Sealed Air Corporation is included as Exhibit 10.5
  to this Current Report on Form 8-K and is incorporated herein by
  reference.
  2
  Item 9.01        Financial Statements and Exhibits.
  (d)
  Exhibits.
  Exhibit
  Number
  Description
  10.1
  2005 Contingent Stock Plan
    of Sealed Air Corporation, as Amended. (Annex D to the Company's Proxy
    Statement for the 2008 Annual Meeting of Stockholders, File No. 1-12139,
    is incorporated herein by reference.)*
  10.2
  Form of Sealed Air Corporation Performance
    Share Units Award Grant 2008-2009.*
  10.3
  Form of Sealed Air Corporation Performance
    Share Units Award Grant 2008-2010.*
  10.4
  Performance Share Unit Awards information.  (Such information contained on pages 39 and
    40 of the Company's Proxy Statement for the 2008 Annual Meeting of
    Stockholders, File No. 1-12139, is incorporated herein by reference.)*
  10.5
  Performance-Based
    Compensation Program of Sealed Air Corporation, as Amended. (Annex E to
    the Company's Proxy Statement for the 2008 Annual Meeting of Stockholders,
    File No. 1-12139, is incorporated herein by reference.)*
  *
  Compensatory plan or
    arrangement of management required to be filed as an exhibit to this report
    on Form 8-K.
  Cautionary Notice Regarding
  Forward Looking Statements
  Some of the statements made
  by the Company in, or incorporated by reference in, this Current Report on Form 8-K
  are forward-looking.  These statements
  include comments as to future events and trends affecting the Company's
  business, which are based upon management's current expectations and are
  necessarily subject to risks and uncertainties, many of which are outside the
  control of the Company.  Forward-looking
  statements can be identified by such words as "anticipates," "estimates," "expects,"
  "intends," "plans," "will" and similar expressions.  The following are important factors that the
  Company believes could cause actual results to differ materially from those in
  the Company's forward-looking statements: changes in raw material and energy
  costs; market conditions; the success of the Company's growth, profitability
  and global manufacturing strategies; the effects of animal and food-related
  health issues; tax, interest and exchange rates; and legal proceedings.  A more extensive list and description of
  these and other such factors can be found under the headings "Risk Factors" and
  "Cautionary Notice Regarding Forward-Looking Statements," which appear in the
  Company's most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q,
  as filed with the Securities and Exchange Commission.
  3
  SIGNATURE
  Pursuant to the requirements
  of the Securities Exchange Act of 1934, the Registrant has duly caused this
  report to be signed on its behalf by the undersigned, hereunto duly authorized.
  SEALED AIR CORPORATION
  By:
  /s/ H. Katherine White
  Name:
  H. Katherine White
  Title:
  Vice President, General
    Counsel and Secretary
  Date: May 23, 2008
  4
  EXHIBIT INDEX
  Exhibit
  Number
  Description
  10.1
  2005 Contingent Stock Plan
    of Sealed Air Corporation, as Amended. (Annex D to the Company's Proxy
    Statement for the 2008 Annual Meeting of Stockholders, File No. 1-12139,
    is incorporated herein by reference.)*
  10.2
  Form of Sealed Air Corporation Performance
    Share Units Award Grant 2008-2009.*
  10.3
  Form of Sealed Air Corporation Performance
    Share Units Award Grant 2008-2010.*
  10.4
  Performance Share Unit Awards information.  (Such information contained on pages 39 and
    40 of the Company's Proxy Statement for the 2008 Annual Meeting of
    Stockholders, File No. 1-12139, is incorporated herein by reference.)*
  10.5
  Performance-Based
    Compensation Program of Sealed Air Corporation, as Amended. (Annex E to
    the Company's Proxy Statement for the 2008 Annual Meeting of Stockholders,
    File No. 1-12139, is incorporated herein by reference.)*
  *
  Compensatory
  plan or arrangement of management required to be filed as an exhibit to this
  report on Form 8-K.
  5