**Exhibit 4.4**

 

abcdefg

 

Variation Agreement (Sub-Licence)

 

 

Merola Finance B.V.

 

And

 

United Biscuits Iberia S.L.

 

 

18 February 2003

 

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**THIS AGREEMENT** is made on 18 February2003

 

**BETWEEN:**

 

(1)                                      **MEROLAFINANCE B.V.** a company incorporated in theNetherlands whose registered office is at Konigslaan 34, 1075AD, Amsterdam, TheNetherlands (**“Merola”**); and

 

(2)                                      **UNITEDBISCUITS IBERIA S.L.**, formerly known as **NABISCOIBERIA S.L.** a Spanish limited liability company with taxidentification number B80662950 whose registered office is c/o Conde DePenalver, no. 38, Madrid, Spain (**“Iberia”**).

 

**RECITALS**

 

(A)                                  Merola and Iberia are parties to an agreement dated 11 July 2000relating to the sub-licence of trade marks to Iberia and a letter amending thesub-licence dated 27 September 2000 (together, the **“Trade Mark Sub-Licence Agreement”**).

 

(B)                                    This agreement is entered into pursuant to a Deed of Settlement ofeven date herewith in which it has been agreed that Iberia shall surrender itsrights in respect of certain trade marks granted under the Trade MarkSub-Licence Agreement in respect of the Relevant Markets (as defined in theDeed of Settlement) and as a result the parties hereto have agreed to amend theterms of the Trade Mark Sub-Licence Agreement as set out in this variationagreement.

 

**THE PARTIES AGREE AS FOLLOWS:**

 

1.                                           All terms defined in the Trade Mark Sub-Licence Agreement shall havethe same meaning in this agreement, unless the context otherwise requires.

 

2.                                           The parties hereto agree that with effect from the date hereof, theTrade Mark Sub-Licence Agreement shall be amended as follows:

 

### (a)                               schedule 1 (Marks) shall be amended by the deletion or removal ofthe trade marks set out in schedule 1 to this agreement;

 

### (b)                              schedule 3 (Licensed Territory) shall be amended as follows:

 

#### (i)                               in the column headed “Africa”, *“Egypt”* shall be deleted;

 

#### (ii)                            the column headed “Middle East” shall be deleted and replaced withthe following:-

 

*“Middle East*

 

*Iraq*

*Iran*

*Israel*

*Syria”*.

 

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3.                                       For the avoidance of doubt the parties agree that clause 13.1 (a),(b), (c) and (e) of the Trade Mark Sub-Licence Agreement shall apply toProducts bearing any of the trade marks set out in schedule 1 produced ormanufactured in any of the countries where those trade marks are registeredsave that the three month termination period in clause 13.1(c)(ii) thereofshall be replaced by a six month termination period.

 

4.                                       For the purpose of this clause 4:

 

“**1999 EBITDA**” shall mean the earnings beforeinterest, tax, depreciation and amortisation for the period to 31 December 1999in respect of sales of Chips Ahoy and Teddy Grahams from Iberia to the RelevantMarkets.

 

“**Consideration Payment**” shall be the sum ofUS$959,000 or, in the event that the 1999 EBITDA is less than US$137,000,seven times such lesser amount.

 

4.1                                 In consideration of Iberia entering into this agreement Merolaagrees to pay to Iberia the Consideration Payment.

 

4.2                                 The Consideration Payment will be paid in the following manner:

 

(a)                                  Merola shall pay to Iberia immediately following the date of thisAgreement the sum of US$959,000 on account of the Consideration Payment (the “**On AccountPayment**”); and

 

(b)                                 the parties shall negotiate in good faith with a view to agreeingthe Consideration Payment and, in the event that they are either unable toagree or have not reached agreement by a date one calendar month after the dateon which the parties enter into this agreement, the following procedure will beinstigated:

 

(i)                                     the parties will forthwith jointly instruct an independent firm ofinternationally recognised chartered accountants (to be agreed by the partiesor, failing agreement, to be selected, on the application of either of them, bythe President for the time being of the Institute of Chartered Accountants inEngland and Wales or his duly appointed deputy) (the “**Expert**”) to calculate thevalue of the Consideration Payment, acting for this purpose as an expert (andnot as an arbitrator);

####  

(ii)                                  the parties will each provide the Expert with such information asmay be reasonably accessible and such assistance as the Expert shall reasonablyrequire to enable the calculation to be made;

 

(iii)                               subject to (ii) above the Expert shall determine the procedure to befollowed to enable it to carry out its duties;

 

(iv)                              each party shall bear the costs and expenses of all counsel andother advisers, witnesses and employees retained by it in connection with thesaid determination;

 

(v)                                 the costs and expenses of the Expert shall be borne by Merola andIberia in such proportions as the Expert shall, in its absolute discretiondetermine. If the

 

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#### Expert makes no such determination itscosts and expenses shall be borne by Merola and Iberia in equal proportions.

 

4.3                                 If it is thereafter determined under Clause 4.3 above, or agreed,that the Completion Payment:

 

(a)                                  exceeds the On Account Payment then Merola shall pay the differenceto Iberia, or

 

(b)                                 is less than the On Account Payment then Iberia shall pay the differenceto Merola,

 

then any such payment shall be made withinfive days of such determination or agreement, provided that such payment shallnot exceed 10% of the On Account Payment.

 

4.4                                 The Completion Payment paid pursuant to clause 4.2 of this agreementand any payment by Merola pursuant to clause 4.3 (if any) shall be paid to theaccount set out below:

 

American Express Bank Ltd, New YorkSwift Code: AEIBUS33Account of: The Royal Bank of Scotland, London (RBOSGB2L)CHIPS ABA: 0159FED WIRE ABA: 1240-7188-9Beneficiary: United Biscuits (UK) LtdAccount: UNBIUKGT-USD-A

 

and receipt by such bank of such sum shallbe good discharge to Merola.

 

5.                                       Save as provided in this agreement, the Trade Mark Sub-LicenceAgreement shall remain in full force and effect.

 

6.                                       No term of this Agreement is enforceable under the Contracts (Rightsof Third Parties) Act 1999 by a person who is not a party to thisAgreement.

 

7.                                       This agreement (and any dispute, controversy, proceedings or claimof whatever nature arising out of or in any way relating to this agreement orits interpretation) shall be governed by and construed in accordance withEnglish law.

 

8.                                       Each of the parties to this agreement irrevocably agrees that thecourts of England shall have exclusive jurisdiction to hear and decide anysuit, action or proceedings and/or to settle any disputes which may arise outof or in connection with this agreement and, for these purposes, each partyirrevocably submits to the jurisdiction of the courts of England.

 

**IN WITNESS**whereof this agreement hasbeen executed on the date first above written.

 

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**SCHEDULE**

**Part 1 - Registered Trade Marks**

 

1.                                       EGYPT

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| OREO          |   | 79784                   |   | May 6, 1991           |   |

 

2.                                       JORDAN

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| OREO          |   | 29569                   |   | July 16,  1991        |   |

 

3.                                       KUWAIT

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| OREO          |   | 23040                   |   | December 31,  1991    |   |

 

4.                                       LEBANON

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| OREO          |   | 56210                   |   | September  12, 1991   |   |

 

5.                                       OMAN

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| OREO          |   | 5711 (APPLN)            |   | July 7, 1991          |   |

 

6.                                       QATAR

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| OREO          |   | 8945                    |   | March 25,  1998       |   |

 

7.                                       SAUDI ARABIA

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| OREO          |   | 245/47                  |   | December 2,  1991     |   |

 

8.                                       U.A.E.

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| OREO          |   | 8721                    |   | February 24,  1997    |   |

 

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9.                                       YEMEN

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| OREO          |   | 6349                    |   | March 19,  1997       |   |

 

10.                                 EGYPT

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| CHIPS AHOY!   |   | 79782                   |   | May 6, 1991           |   |

 

11.                                 JORDAN

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| CHIPS AHOY!   |   | 29034                   |   | July 14,  1991        |   |

 

12.                                 KUWAIT

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| CHIPS AHOY!   |   | 23038                   |   | December 31,  1991    |   |

 

13.                                 LEBANON

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| CHIPS AHOY!   |   | 56207                   |   | September  12, 1991   |   |

 

14.                                 OMAN

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| CHIPS AHOY!   |   | 5706 (APPLN)            |   | July 7, 1991          |   |

 

15.                                 QATAR

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| CHIPS AHOY!   |   | 8948                    |   | March 25,  1998       |   |

 

16.                                 SAUDIARABIA

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| CHIPS AHOY!   |   | 245/52                  |   | December 2,  1991     |   |

 

17.                                 U.A.E.

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| CHIPS AHOY!   |   | 8712                    |   | February 24,  1997    |   |

 

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18.                                 YEMEN

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| CHIPS AHOY!   |   | 6343                    |   | March 19,  1997       |   |

 

19.                                 EGYPT

 
| **TRADEMARK**                      |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|------------------------------------|--------|-------------------------|--------|-----------------------|--------|
| RITZ                               |   | 37977                   |   | November 8,  1960     |   |
| RITZ & PACKAGE DESIGN IN COLOR |   | 37597                   |   | August 2,  1960       |   |

 

20.                                 JORDAN

 
| **TRADEMARK**       |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------------|--------|-------------------------|--------|-----------------------|--------|
| RITZ                |   | 5866                    |   | June 13,  1995        |   |
| RITZ PACKAGE DESIGN |   | 29028                   |   | July 16,  1991        |   |

 

21.                                 KUWAIT

 
| **TRADEMARK**       |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------------|--------|-------------------------|--------|-----------------------|--------|
| RITZ PACKAGE DESIGN |   | 23042                   |   | December 31,  1991    |   |
| RITZ                |   | 23829                   |   | December 31,  1991    |   |

 

22.                                 LEBANON

 
| **TRADEMARK**                  |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|--------------------------------|--------|-------------------------|--------|-----------------------|--------|
| RITZ                           |   | 47548                   |   | June 23,  1955        |   |
| RITZ PACKAGE DESIGN IN COLOR   |   | 28193                   |   | February 27,  1958    |   |
| RITZ PACKAGE DESIGN IN B&W |   | 47550                   |   | June 23,  1955        |   |

 

23.                                 OMAN

 
| **TRADEMARK**                             |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|-------------------------------------------|--------|-------------------------|--------|-----------------------|--------|
| RITZ & RITZ PACKAGE DESIGN (NECKLACE) |   | 5702 (APPLN)            |   | July 7, 1991          |   |
| RITZ                                      |   | 5095                    |   | May 22, 1999          |   |

 

24.                                 QATAR

 
| **TRADEMARK**                             |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|-------------------------------------------|--------|-------------------------|--------|-----------------------|--------|
| RITZ                                      |   | 8825                    |   | March 25, 1998        |   |
| RITZ (NECKLACE) PACKAGE DEVICE (IN COLOR) |   | 8951                    |   | November 17,  1999    |   |

 

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25.                                 SAUDIARABIA

 
| **TRADEMARK**                |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|------------------------------|--------|-------------------------|--------|-----------------------|--------|
| RITZ PACKAGE DESIGN IN COLOR |   | 1577                    |   | June 25,  1963        |   |
| RITZ                         |   | 18045                   |   | December 12,  1987    |   |
| RITZ PACKAGE DESIGN          |   | 17/86                   |   | August 24,  1964      |   |

 

26.                                 U.A.E.

 
| **TRADEMARK**       |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------------|--------|-------------------------|--------|-----------------------|--------|
| RITZ PACKAGE DESIGN |   | 9580                    |   | March 10,  1997       |   |
| RITZ                |   | 9579                    |   | March 10,  1997       |   |

 

27.                                 YEMEN

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| RITZ          |   | 6351                    |   | March 19,  1997       |   |

 

28.                                 EGYPT

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| TEDDY GRAHAMS |   | 79785                   |   | May 6, 1991           |   |

 

29.                                 JORDAN

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| TEDDY GRAHAMS |   | 29035                   |   | July 14,  1991        |   |

 

30.                                 KUWAIT

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| TEDDY GRAHAMS |   | 23139                   |   | December 4,  1997     |   |

 

31.                                 LEBANON

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| TEDDY GRAHAMS |   | 56211                   |   | September  12, 1991   |   |

 

32.                                 OMAN

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| TEDDY GRAHAMS |   | 5712 (APPLN)            |   | July 7, 1991          |   |

 

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33.                                 QATAR

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| TEDDY GRAHAMS |   | 8952 (APPLN)            |   | July 30,  1991        |   |

 

34.                                 SAUDIARABIA

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| TEDDY GRAHAMS |   | 245/53                  |   | December 2,  1991     |   |

 

35.                                 U.A.E.

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| TEDDY GRAHAMS |   | 8719                    |   | February 24,  1997    |   |

 

36.                                 YEMEN

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| TEDDY GRAHAMS |   | 6352                    |   | March 19,  1997       |   |

 

37.                                 SAUDIARABIA

 
| **TRADEMARK** |   | **APPLN./REG.  NUMBER** |   | **APPLN./REG.  DATE** |   |
|---------------|--------|-------------------------|--------|-----------------------|--------|
| AIR CRISPS    |   | 430/47                  |   | March 22,  1998       |   |

 

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**Part 2****- Unregistered Trade Marks**

 

Mark

 

OREO

CHIPS AHOY!

RITZ

TEDDY GRAHAMS

AIR CRISPS

NABISCO

CORNER TRIANGLE

 

Which are used in any of the following countries:

 

Saudi Arabia

Oman

Lebanon

Jordan

Qatar

Egypt

Bahrain

Yemen

Kuwait

United Arab Emirates

 

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| Executed and delivered by                                                                                                                     | )            | Robert Bradish/s/ |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------|--------------|-------------------|--------|
|                                                                                                                                          | )            |              |
| for and on behalf of **MEROLA  FINANCE B.V.**  under a power of attorney dated   9 January 2003  in the presence of:  Name:  Harold Heck | )  )         |              |
|                                                                                                                                          |         |              |
| Address:         Kew  House, Capital Interchange Way,  Brentford TW8 0EX                              |         |              |
|                                                                                                                                          |         |              |
| Signature:                                                                                                                                    | Hank Heck/s/ |              |   |   |
|                                                                                                                                               |              |                   |        |  |  |

 

 
| Signed by                       | )      | Juan Casaponsa Sitjas/s/ |   |
|---------------------------------|--------|--------------------------|--------|
| for and on behalf of            | )      | Inaki Aguirre/s/         |   |
| **UNITED BISCUITS IBERIA S.L.** | )      |                     |
| in the presence of:             | )      |                     |
|                            |   |                     |
| Montserrat Serra/s/             |   |                     |   |
|                                 |        |                          |        |  |  |

 

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