Supplemental Indenture to the 9.5% Senior Subordinated Notes due 2017 Indenture



 EXHIBIT 10.3.90 
 EXECUTION 
 SUPPLEMENTAL INDENTURE 

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) dated as of November 7, 2012, among BEVERAGE PACKAGING
HOLDINGS (LUXEMBOURG) II S.A., a Luxembourg public limited liability company (société anonyme), having its registered office at 6, Parc d’Activités Syrdall, L-5365 Munsbach, Grand-Duchy of Luxembourg, registered with
the Luxembourg register of commerce and companies under the number B129.914 (the “Issuer”), International Tray Pads & Packaging, Inc. (the “New Subordinated Guarantor”), and The Bank of New York Mellon
(formerly The Bank of New York), as trustee under the indenture referred to below (the “Trustee”). 

W  I  T  N  E  S  S  E  T  H : 

WHEREAS the Issuer has heretofore executed and delivered to the Trustee an indenture (as amended, supplemented or
otherwise modified, the “Indenture”) dated as of June 29, 2007, providing for the issuance of the Issuer’s 9 1/2% Senior Subordinated Notes due 2017 (the “Securities”), initially in
the aggregate principal amount of €420,000,000; 
 WHEREAS Section 4.11 of the Indenture provides that under
certain circumstances the Issuer is required to cause the New Subordinated Guarantor to execute and deliver to the Trustee a supplemental indenture pursuant to which the New Subordinated Guarantor shall unconditionally guarantee all the
Issuer’s Obligations under the Securities and the Indenture pursuant to a Subordinated Guarantee on the terms and conditions set forth herein; and 
 WHEREAS pursuant to Section 9.01 of the Indenture, the Trustee and the Issuer are authorized to execute and deliver this Supplemental Indenture; 

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby
acknowledged, the New Subordinated Guarantor, the Issuer and the Trustee mutually covenant and agree for the equal and ratable benefit of the holders of the Securities as follows: 

1. Defined Terms. As used in this Supplemental Indenture, terms defined in the Indenture or in the preamble or recital hereto are
used herein as therein defined, except that the term “Holders” in this Supplemental Indenture shall refer to the term “Holders” as defined in the Indenture and the Trustee acting on behalf of and for the benefit of
such Holders. The words “herein”, “hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any
particular section hereof. 
 2. Agreement to Guarantee. The New Subordinated Guarantor hereby agrees, jointly and
severally with all existing Subordinated Guarantors (if any), to unconditionally guarantee the Issuer’s Obligations under the Securities and the 







 
Indenture on the terms and subject to the conditions set forth in Article X and Article XI of the Indenture and to be bound by all other applicable provisions of the Indenture and the
Securities and to perform all of the obligations and agreements of a Subordinated Guarantor under the Indenture. 
 3.
Notices. All notices or other communications to the New Subordinated Guarantor shall be given as provided in Section 13.02 of the Indenture. 
 4. Ratification of Indenture; Supplemental Indentures Part of Indenture. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions
and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every holder of Securities heretofore or hereafter authenticated and delivered shall be bound hereby.

 5. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. 
 6. Trustee Makes No Representation. The
Trustee shall not be responsible in any manner whatsoever for or in respect of the recitals contained herein, all of which recitals are made solely by the Issuer and the New Subordinated Guarantor. Furthermore, the Trustee makes no representation as
to the validity or sufficiency of this Supplemental Indenture. 
 7. Counterparts. The parties may sign any number of
copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 
 8. Effect of Headings. The Section headings herein are for convenience only and shall not effect the construction thereof. 
 [signature page follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the date first above written. 
  

					
	INTERNATIONAL TRAY PADS & PACKAGING, INC.
			
		 	By	 	 /s/ Joseph Doyle

		 	Name:	 	Joseph Doyle
		 	Title:	 	Secretary


 2007 SENIOR SUBORDINATED NOTES
SUPPLEMENTAL INDENTURE 







 
			
	THE BANK OF NEW YORK MELLON, as Trustee
		
	By:	 	 /s/ Paul Cattermole

	Name:	 	Paul Cattermole
	Title:	 	Vice President


 2007 SENIOR SUBORDINATED NOTES
SUPPLEMENTAL INDENTURE 







 
			
	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) II S.A.
		
	By:	 	 /s/ Gregory Cole

	Name:	 	Gregory Cole
	Title:	 	Authorised Signatory


 2007 SENIOR SUBORDINATED NOTES
SUPPLEMENTAL INDENTURE