Document:

exv10w80

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EXHIBIT 10.80

Deed Poll of Indemnification

Dated 14 January 2011

Reynolds Group Holdings Limited

for the benefit and in favour of

the Indemnitees defined in this Deed Poll of Indemnification

(Japan — Closures)

 

 

Contents

	 	 	 	 	 
	Clause	 	Page	 
	1. Definitions
	 	 	3	 
	 
	 	 	 	 
	2. Indemnification
	 	 	4	 
	 
	 	 	 	 
	3. Limitations on Indemnification
	 	 	4	 
	 
	 	 	 	 
	4. Indemnification Procedure
	 	 	4	 
	 
	 	 	 	 
	5. Severability
	 	 	5	 
	 
	 	 	 	 
	6. Governing law
	 	 	5	 
	 
	 	 	 	 
	7. Amendments
	 	 	5	 
	 
	 	 	 	 
	8. Termination
	 	 	5	 
	 
	 	 	 	 
	Schedule
	 	 	 	 
	 
	 	 	 	 
	1. Part A: Japanese Guarantor
	 	 	7	 
	 
	 	 	 	 
	2. Part B: List of Indemnitees
	 	 	8	 

 

 

THIS DEED POLL OF INDEMNIFICATION is made on 14 January 2011

BY:

Reynolds Group Holdings Limited, a company registered in New Zealand whose registered office is at
c/o Bell Gully (GJM), Level 22, Vero Centre, 48 Shortland Street, Auckland, New Zealand
(“RGHL”);

IN FAVOUR AND FOR THE BENEFIT OF:

Each Indemnitee (as defined below).

BACKGROUND

	A.	 	As part of the Reynolds group of companies (the “Reynolds Group”), each Japanese
Guarantor (as defined below) is a guarantor and/or security provider (as relevant) in respect
of the Reynolds Group’s existing financing arrangements (the “Existing Financing
Arrangements”), including, without limitation, by:

	 	(a)	 	providing a guarantee and/or security (as applicable) with respect to the
senior secured credit agreement dated as of November 5, 2009, between, among others,
RGHL, the borrowers listed therein and Credit Suisse AG, as amended by (i) Amendment
No. 1, dated as of January 21, 2010, (ii) an amendment and assumption agreement dated
as of May 4, 2010, (iii) an amendment and assumption agreement dated as of September
30, 2010 and (iv) each guarantor joinder entered into from time to time (the
“Senior Secured Credit Facilities”);
	 
	 	(b)	 	providing a guarantee and/or security (as applicable) with respect to the
7.75% senior secured notes due 2016 issued by members of the Reynolds Group in
aggregate principal amounts of US$1,125,000,000 and €450,000,000 pursuant to an
indenture dated November 5, 2009 (the “2009 Notes”); and
	 
	 	(c)	 	providing a guarantee and security with respect to the 7.125% senior secured
notes due 2019 issued by members of the Reynolds Group in aggregate principal amounts
of US$1,500,000,000 pursuant to an indenture dated October 15, 2010 (the “2010
Secured Notes”);

	 	 	(the Senior Secured Credit Facilities, the 2009 Notes and the 2010 Secured Notes being
together, the “Existing Secured Indebtedness”),

	 	(d)	 	providing a guarantee with respect to certain notes issued by members of the
Reynolds Group, including (i) 8% senior notes due 2016 issued in an aggregate
principal amount of €480,000,000 pursuant to an indenture dated June 29, 2007, (ii)
9.5% senior subordinated notes due 2017 issued in an aggregate principal amount of
€420,000,000

 

 

	 	 	 	pursuant to an indenture dated June 29, 2007, (iii) 8.5% senior notes due 2018
issued in an aggregate principal amount of US$1,000,000,000 pursuant to an
indenture dated May 4, 2010 and (iv) 9.0% senior notes due 2019 issued in an
aggregate principal amount of US$1,500,000,000 pursuant to an indenture dated
October 15, 2010 ((i), (ii), (iii) and (iv) are together, the “Existing
Notes”); and
	 
	 	(e)	 	being party to the intercreditor arrangements in respect of the guarantees,
indebtedness and security described above (the “Intercreditor Arrangements”).

	B.	 	It is currently intended that additional debt will be incurred in order to, without
limitation, (i) repay some or all of the debt incurred pursuant to the Senior Secured Credit
Facilities and/or (ii) increase the amount of cash available to certain members of the
Reynolds Group, including, without limitation, for general corporate purposes, to pay fees
and/or expenses in connection with the Transactions (as defined below) and/or to fund future
acquisitions.
	 
	C.	 	In connection with such incurrence of indebtedness, it is intended that the Existing
Financing Arrangements be supplemented and/or amended. Each Japanese Guarantor (as defined
below) may, among other things, be required to do some or all of the following:

	 	(a)	 	provide a guarantee in respect of the issue of new senior unsecured notes by
indirect subsidiaries of RGHL (the “New Unsecured Notes”), and enter into a
purchase agreement and registration rights agreement relating to the New Unsecured
Notes;
	 
	 	(b)	 	provide a guarantee and security in respect of the issue of new senior
secured notes by indirect subsidiaries of RGHL (the “New Secured Notes”) which
will be secured on a pari passu basis with the security granted by each Japanese
Guarantor in respect of the Existing Secured Indebtedness, and enter into a purchase
agreement and registration rights agreement relating to the New Secured Notes;
	 
	 	(c)	 	publish offering documents in respect of the New Secured Notes and the New
Unsecured Notes, together with entering into agreements relating to both the
underwriting of those notes by the initial note purchasers and the future registration
of those notes (and consequent tender offer) with the US Securities Exchange
Commission;
	 
	 	(d)	 	in addition to (whether contemporaneously or otherwise), or instead of, the
issue of the New Secured Notes and/or the New Unsecured Notes, enter into an amendment
and/or restatement agreement relating to the Senior Secured Credit Facilities to (i)
allow for the incurrence of additional indebtedness (the “Additional Bank
Debt”) that will be

2

 

	 	 	 	incurred to repay some or all of the existing tranches of debt under the
Senior Secured Credit Facilities, or into which some or all of the existing
tranches of debt under the Senior Secured Credit Facilities will be converted or
rolled over, (ii) reflect any repayment of debt made from the proceeds of the
Additional Bank Debt, the New Unsecured Notes and/or the New Secured Notes and/or
(iii) any amendments that are agreed with the Lenders (as defined therein) to
update certain of the commercial terms, including, without limitation, relating to
pricing, maturity and commercial and financial covenants (the “Amendment
Agreement”);
	 
	 	(e)	 	provide certain affirmations, re-affirmations and/or confirmations that its
guarantees currently in place in respect of the Existing Secured Indebtedness continue
in full force and effect notwithstanding the Transactions (as defined below) and
extend to the New Secured Notes;
	 
	 	(f)	 	provide any amendment, restatement, affirmation, re-affirmation, supplement,
extension, confirmation or release and retake of security, or grant of new or
additional security (which may be second or third ranking) in respect of collateral
under the applicable agreements, instruments or other documents creating security
interests in respect of the Existing Secured Indebtedness (the “Security
Documents”) in order to provide that such Security Documents (i) secure
obligations with respect to the New Secured Notes on a pari passu basis with the
Existing Secured Indebtedness to the extent possible and (ii) continue to secure
obligations in respect of the Existing Secured Indebtedness; and/or
	 
	 	(g)	 	enter into such amendments, supplements, joinders or other documents in
connection with the Intercreditor Arrangements to the extent required as may be
necessary to give effect to the proposed new structure;

	 	 	together, the “Transactions”. The documents relating to the Transactions are
collectively, the “Transaction Documents”.
	 
	D.	 	RGHL has agreed to provide an indemnity to the Indemnitees (as defined below) in respect of
the Transactions, as further described below.

It is the intention of RGHL that this document be executed as a deed poll (this “Deed
Poll”) in favour and for the benefit of each Indemnitee.

THIS DEED POLL WITNESSES as follows:

	1.	 	Definitions

	 	 	“Indemnitee” means each person listed in Part B of the Schedule to this Deed Poll;
and

3

 

	 	 	“Japanese Guarantor” means each company listed in Part A of the Schedule to this
Deed Poll.
	 
	2.	 	Indemnification
	 
	 	 	RGHL shall indemnify each Indemnitee against all legal expenses, losses, liabilities,
judgments, fines, penalties and amounts paid in settlement (including all interest,
assessments and other charges in connection therewith) incurred by an Indemnitee or on an
Indemnitee’s behalf in connection with any proceeding resulting from or relating to
decisions the Indemnitee made or any actions the Indemnitee took on behalf of a Japanese
Guarantor in his or her capacity as a director of that company in connection with any
transactions or the approval or execution of any resolutions or documents in relation to
the Transactions (“Indemnified Liability”).
	 
	3.	 	Limitations on Indemnification
	 
	 	 	Notwithstanding any other provision of this Deed Poll, an Indemnitee shall not be entitled
to indemnification under this Deed Poll:

	 	(a)	 	to the extent that such indemnification is not permitted by applicable laws;
or
	 
	 	(b)	 	to the extent such Indemnified Liabilities are the result of gross
negligence, bad faith or wilful misconduct of the Indemnitee; or
	 
	 	(c)	 	to the extent that payment is actually made, or for which payment is
available, to or on behalf of the relevant Indemnitee under an insurance policy,
except in respect of any amount in excess of the limits of liability of such policy or
any applicable deductible for such policy; or
	 
	 	(d)	 	to the extent that payment has or will be made to the relevant Indemnitee by
a Japanese Guarantor or any affiliate of RGHL otherwise than pursuant to this Deed
Poll; or
	 
	 	(e)	 	in connection with any proceeding (or part thereof) initiated by an
Indemnitee, unless:

	 	(i)	 	such indemnification is expressly required to be made by
law,
	 
	 	(ii)	 	the proceeding was authorised by the shareholder(s) (or
other decision making organ) of the Japanese Guarantor; or
	 
	 	(iii)	 	such indemnification is provided by the relevant Japanese
Guarantor, in its sole discretion, pursuant to the powers vested in the
Japanese Guarantor under applicable law.

	4.	 	Indemnification Procedure

	 	4.1	 	Each Indemnitee shall give RGHL notice in writing as soon as practicable of
any proceeding in relation to that Indemnitee for which indemnification will or could
be sought under this Deed Poll. To obtain indemnification payments or advances under
this Deed Poll, an Indemnitee shall submit to RGHL a written request therefore,
together

4

 

	 	 	 	with such invoices or other supporting information as may be reasonably requested
by RGHL and reasonably available to the relevant Indemnitee. Subject to clause
4.2, RGHL shall make such indemnification payment within 30 business days of
receipt of such invoices and supporting information.

	 	4.2	 	There shall be no presumption in favour of indemnification. If there is a
dispute between RGHL and an Indemnitee as to whether that Indemnitee is entitled to
indemnification, then independent legal counsel shall be selected by the board of
directors of RGHL to make such determination. The selected independent legal counsel
shall make such determination within 30 business days of being selected and the
decision of such independent legal counsel shall be binding upon all RGHL and the
relevant Indemnitee.

	5.	 	Severability
	 
	 	 	If any provision or provisions of this Deed Poll shall be held to be invalid, illegal or
unenforceable for any reason, the validity, legality and enforceability of the remaining
provisions of this Deed Poll shall not in any way be affected or impaired thereby and shall
remain enforceable to the fullest extent permitted by law.
	 
	6.	 	Governing law
	 
	 	 	This Deed Poll shall be governed by and its provisions construed in accordance with
Japanese law.
	 
	7.	 	Amendments
	 
	 	 	No amendment or modification of this Deed Poll shall be effective unless it is approved in
writing by each Indemnitee having the benefit of this Deed Poll.
	 
	8.	 	Termination
	 
	 	 	This Deed Poll shall remain in effect in favour and for the benefit of each Indemnitee
until the expiration of 12 months after the date that is the later to occur of:

	 	(a)	 	the relevant Indemnitee ceasing to serve as a director of the Japanese
Guarantor; and
	 
	 	(b)	 	the date on which all obligations of the Japanese Guarantor of which that
Indemnitee is a director in respect of the Transaction Documents are expired,
terminated or released.

5

 

IN WITNESS of which this Deed Poll has been executed and has been delivered on the date stated at
the beginning of this Deed Poll for the benefit and in favour of each Indemnitee.

	 	 	 	 	 
	Reynolds Group Holdings Limited

 	 
	/s/ Gregory Cole
 	 
	Name:  	Gregory Cole 	 
	 	 
	 

	 	 	 	 	 
	 	                                     /s/ [ILLEGIBLE]
 	 
	 	Signature of witness 	 
	 
	 	                                     /s/ Analyst
 	 
	 	Occupation 	 
	 
	 	                                     /s/ Auckland
 	 
	 	City of Residence 	 

6

 

	 	 	 	 	 

Schedule

Part A

Japanese Guarantor

	 	•	 	Closure Systems International Holdings (Japan) KK
	 
	 	•	 	Closure Systems International Japan, Limited.

7

 

Part B

List of Indemnitees

	 	•	 	Helen Dorothy Golding
	 
	 	•	 	Gregory Alan Cole
	 
	 	•	 	Victor Lance Mitchell
	 
	 	•	 	Thomas James Degnan
	 
	 	•	 	Yutaka Masunaga

8exv10w81

EXHIBIT 10.81

Deed Poll of Indemnification

Dated 14 January 2011

Reynolds Group Holdings Limited

for the benefit and in favour of

the Indemnitees defined in this Deed Poll of Indemnification

(Luxembourg)

 

 

Contents

	 	 	 	 	 
	Clause	 	Page	 
	1. Definitions
	 	 	3	 
	 
	 	 	 	 
	2. Indemnification
	 	 	4	 
	 
	 	 	 	 
	3. Limitations on Indemnification
	 	 	4	 
	 
	 	 	 	 
	4. Indemnification Procedure
	 	 	4	 
	 
	 	 	 	 
	5. Severability
	 	 	5	 
	 
	 	 	 	 
	6. Governing law
	 	 	5	 
	 
	 	 	 	 
	7. Amendments
	 	 	5	 
	 
	 	 	 	 
	8. Termination
	 	 	5	 
	 
	 	 	 	 
	Schedule
	 	 	 	 
	 
	 	 	 	 
	1. Part A: Luxembourg Obligors
	 	 	7	 
	 
	 	 	 	 
	2. Part B: List of Indemnitees
	 	 	8	 

 

 

THIS DEED POLL OF INDEMNIFICATION is made on 14 January 2011

BY:

Reynolds Group Holdings Limited, a company registered in New Zealand whose registered office is at
c/o Bell Gully (GJM), Level 22, Vero Centre, 48 Shortland Street, Auckland, New Zealand
(“RGHL”);

IN FAVOUR AND FOR THE BENEFIT OF:

Each Indemnitee (as defined below).

BACKGROUND

	A.	 	As part of the Reynolds group of companies (the “Reynolds Group”), each Luxembourg
Obligor (as defined below) is a guarantor, security provider and/or issuer (as relevant) in
respect of the Reynolds Group’s existing financing arrangements (the “Existing Financing
Arrangements”), including, without limitation, by:

	 	(a)	 	providing a guarantee and/or security (as applicable) with respect to the
senior secured credit agreement dated as of November 5, 2009, between, among others,
RGHL, the borrowers listed therein and Credit Suisse AG, as amended by (i) Amendment
No. 1, dated as of January 21, 2010, (ii) an amendment and assumption agreement dated
as of May 4, 2010, (iii) an amendment and assumption agreement dated as of September
30, 2010 and (iv) each guarantor joinder entered into from time to time (the
“Senior Secured Credit Facilities”);
	 
	 	(b)	 	issuing and/or providing a guarantee and/or security (as applicable) with
respect to the 7.75% senior secured notes due 2016 issued by members of the Reynolds
Group in aggregate principal amounts of US$1,125,000,000 and €450,000,000 pursuant to
an indenture dated November 5, 2009 (the “2009 Notes”); and
	 
	 	(c)	 	providing a guarantee and security with respect to the 7.125% senior secured
notes due 2019 issued by members of the Reynolds Group in aggregate principal amounts
of US$1,500,000,000 pursuant to an indenture dated October 15, 2010 (the “2010
Secured Notes”);

	 	 	(the Senior Secured Credit Facilities, the 2009 Notes and the 2010 Secured Notes being
together, the “Existing Secured Indebtedness”),

	 	(d)	 	providing a guarantee with respect to certain notes issued by members of the
Reynolds Group, including (i) 8% senior notes due 2016 issued in an aggregate
principal amount of €480,000,000 pursuant to an indenture dated June 29, 2007, (ii)
9.5% senior subordinated notes due 2017 issued in an aggregate principal amount of
€420,000,000 pursuant to an indenture dated June 29, 2007, (iii) 8.5% senior notes

 

 

	 	 	 	due 2018 issued in an aggregate principal amount of US$1,000,000,000 pursuant to
an indenture dated May 4, 2010 and (iv) 9.0% senior notes due 2019 issued in an
aggregate principal amount of US$1,500,000,000 pursuant to an indenture dated
October 15, 2010 ((i), (ii), (iii) and (iv) are together, the “Existing
Notes”); and
	 
	 	(e)	 	being party to the intercreditor arrangements in respect of the guarantees,
indebtedness and security described above (the “Intercreditor Arrangements”).

	B.	 	It is currently intended that additional debt will be incurred in order to, without
limitation, (i) repay some or all of the debt incurred pursuant to the Senior Secured Credit
Facilities and/or (ii) increase the amount of cash available to certain members of the
Reynolds Group, including, without limitation, for general corporate purposes, to pay fees
and/or expenses in connection with the Transactions (as defined below) and/or to fund future
acquisitions.
	 
	C.	 	In connection with such incurrence of indebtedness, it is intended that the Existing
Financing Arrangements be supplemented and/or amended. Each Luxembourg Obligor (as defined
below) may, among other things, be required to do some or all of the following:

	 	(a)	 	provide a guarantee in respect of the issue of new senior unsecured notes by
indirect subsidiaries of RGHL (the “New Unsecured Notes”), and enter into a
purchase agreement and registration rights agreement relating to the New Unsecured
Notes;
	 
	 	(b)	 	provide a guarantee and security in respect of the issue of new senior
secured notes by indirect subsidiaries of RGHL (the “New Secured Notes”) which
will be secured on a pari passu basis with the security granted by each Luxembourg
Obligor in respect of the Existing Secured Indebtedness, and enter into a purchase
agreement and registration rights agreement relating to the New Secured Notes; it is
intended that the aggregate amount of New Secured Notes and New Unsecured Notes issued
will not exceed US$2,000,000,000;
	 
	 	(c)	 	publish offering documents in respect of the New Secured Notes and the New
Unsecured Notes, together with entering into agreements relating to both the
underwriting of those notes by the initial note purchasers and the future registration
of those notes (and consequent tender offer) with the US Securities Exchange
Commission;
	 
	 	(d)	 	in addition to (whether contemporaneously or otherwise), or instead of, the
issue of the New Secured Notes and/or the New Unsecured Notes, enter into an amendment
and/or restatement agreement relating to the Senior Secured Credit Facilities to (i)
allow for the incurrence of

2

 

	 	 	 	additional indebtedness (the “Additional Bank
Debt”) that will be
incurred to repay some or all of the existing tranches of debt under the Senior
Secured Credit Facilities, or into which some or all of the existing tranches of
debt under the Senior Secured Credit Facilities will be converted or rolled over,
(ii) reflect any repayment of debt made from the proceeds of the Additional Bank
Debt, the New Unsecured Notes and/or the New Secured Notes and/or (iii) any
amendments that are agreed with the Lenders (as defined therein) to update certain
of the commercial terms, including, without limitation, relating to pricing,
maturity and commercial and financial covenants (the “Amendment
Agreement”);
	 
	 	(e)	 	provide certain affirmations, re-affirmations and/or confirmations that its
guarantees currently in place in respect of the Existing Secured Indebtedness continue
in full force and effect notwithstanding the Transactions (as defined below) and
extend to the New Secured Notes;
	 
	 	(f)	 	provide any amendment, restatement, affirmation, re-affirmation, supplement,
extension, confirmation or release and retake of security, or grant of new or
additional security (which may be second or third ranking) in respect of collateral
under the applicable agreements, instruments or other documents creating security
interests in respect of the Existing Secured Indebtedness (the “Security
Documents”) in order to provide that such Security Documents (i) secure
obligations with respect to the New Secured Notes on a pari passu basis with the
Existing Secured Indebtedness to the extent possible and (ii) continue to secure
obligations in respect of the Existing Secured Indebtedness; and/or
	 
	 	(g)	 	enter into such amendments, supplements, joinders or other documents in
connection with the Intercreditor Arrangements to the extent required as may be
necessary to give effect to the proposed new structure;

	 	 	together, the “Transactions”. The documents relating to the Transactions are
collectively, the “Transaction Documents”.
	 
	D.	 	RGHL has agreed to provide an indemnity to the Indemnitees (as defined below) in respect of
the Transactions, as further described below.

It is the intention of RGHL that this document be executed as a deed poll (this “Deed
Poll”) in favour and for the benefit of each Indemnitee.

THIS DEED POLL WITNESSES as follows:

	1.	 	Definitions
	 
	 	 	“Indemnitee” means each person listed in Part B of the Schedule to this Deed Poll;
and

3

 

	 	 	“Luxembourg Obligor” means each company listed in Part A of the Schedule to this
Deed Poll.
	 
	2.	 	Indemnification
	 
	 	 	RGHL shall indemnify each Indemnitee against all legal expenses, losses, liabilities,
judgments, fines, penalties and amounts paid in settlement (including all interest,
assessments and other charges in connection therewith) (collectively, the “Indemnified
Liabilities”) incurred by an Indemnitee or on an Indemnitee’s behalf in connection with
any proceeding resulting from or relating to decisions the Indemnitee made or any actions
the Indemnitee took on behalf of a Luxembourg Obligor in his or her capacity as a director
or supervisory board member of that company in connection with any transactions or the
approval or execution of any resolutions or documents in relation to the Transactions.
	 
	3.	 	Limitations on Indemnification
	 
	 	 	Notwithstanding any other provision of this Deed Poll, an Indemnitee shall not be entitled
to indemnification under this Deed Poll:

	 	(a)	 	to the extent that such indemnification is not permitted by applicable laws;
or
	 
	 	(b)	 	to the extent such Indemnified Liabilities are the result of the gross
negligence, bad faith or wilful misconduct of the Indemnitee; or
	 
	 	(c)	 	to the extent that payment is actually made, or for which payment is
available, to or on behalf of the relevant Indemnitee under an insurance policy,
except in respect of any amount in excess of the limits of liability of such policy or
any applicable deductible for such policy; or
	 
	 	(d)	 	to the extent that payment has or will be made to the relevant Indemnitee by
a Luxembourg Obligor or any affiliate of RGHL otherwise than pursuant to this Deed
Poll; or
	 
	 	(e)	 	in connection with any proceeding (or part thereof) initiated by an
Indemnitee, unless:

	 	(i)	 	such indemnification is expressly required to be made by
law,
	 
	 	(ii)	 	the proceeding was authorised by the shareholder(s) (or
other decision making organ) of the relevant Luxembourg Obligor; or
	 
	 	(iii)	 	such indemnification is provided by the relevant
Luxembourg Obligor, in its sole discretion, pursuant to the powers vested in
the Luxembourg Obligor under applicable law.

	4.	 	Indemnification Procedure
	 
	4.1	 	Each Indemnitee shall give RGHL notice in writing as soon as practicable of any proceeding in
relation to that Indemnitee for which indemnification will or could be sought under this Deed
Poll. To obtain indemnification payments or advances under this Deed Poll, an Indemnitee
shall submit to RGHL a written

4

 

	 	 	request therefore, together with such invoices or other supporting information as may be
reasonably requested by RGHL and reasonably available to the relevant Indemnitee. Subject
to clause 4.2, RGHL shall make such indemnification payment within 30 business days of
receipt of such invoices and supporting information.
	 
	4.2	 	There shall be no presumption in favour of indemnification. If there is a dispute between
RGHL and an Indemnitee as to whether that Indemnitee is entitled to indemnification, then
independent legal counsel shall be selected by the board of directors of RGHL to make such
determination. The selected independent legal counsel shall make such determination within 30
business days of being selected and the decision of such independent legal counsel shall be
binding upon all RGHL and the relevant Indemnitee.
	 
	5.	 	Severability
	 
	 	 	If any provision or provisions of this Deed Poll shall be held to be invalid, illegal or
unenforceable for any reason, the validity, legality and enforceability of the remaining
provisions of this Deed Poll shall not in any way be affected or impaired thereby and shall
remain enforceable to the fullest extent permitted by law.
	 
	6.	 	Governing law
	 
	 	 	This Deed Poll shall be governed by and its provisions construed in accordance with New
Zealand law.
	 
	7.	 	Amendments
	 
	 	 	No amendment or modification of this Deed Poll shall be effective unless it is approved in
writing by each Indemnitee having the benefit of this Deed Poll.
	 
	8.	 	Termination
	 
	 	 	This Deed Poll shall remain in effect in favour and for the benefit of each Indemnitee
until the expiration of 12 months after the date that is the later to occur of:

	 	(a)	 	the relevant Indemnitee ceasing to serve as a director or supervisory board
member (as relevant) of the relevant Luxembourg Obligor; and
	 
	 	(b)	 	the date on which all obligations of the relevant Luxembourg Obligor of which
that Indemnitee is a director in respect of the Transaction Documents are expired,
terminated or released.

5

 

IN WITNESS of which this Deed Poll has been executed and has been delivered on the date stated at
the beginning of this Deed Poll for the benefit and in favour of each Indemnitee.

	 	 	 	 	 
	 	Reynolds Group Holdings Limited

 	 
	 	/s/ Gregory Cole
 	 
	 	Name:  	Gregory Cole 	 

	 	 	 	 	 
	 	                                     /s/ [ILLEGIBLE]
 	 
	 	Signature of witness 	 
	 	 	 
	 	                                     /s/ Analyst
 	 
	 	Occupation 	 
	 	 	 
	 	                                     /s/ Auckland
 	 
	 	City of Residence 	 
	 	 	 

6

 

	 	 	 	 	 

Schedule

Part A

Luxembourg Obligor

	•	 	Beverage Packaging Holdings (Luxembourg) I S.A.
	 
	•	 	Beverage Packaging Holdings (Luxembourg) II S.A.
	 
	•	 	Beverage Packaging Holdings (Luxembourg) III S.à r.l.
	 
	•	 	Reynolds Group Issuer (Luxembourg) S.A.
	 
	•	 	SIG Finance (Luxembourg) S.à r.l.1
	 
	•	 	Evergreen Packaging (Luxembourg) S.à r.l.

 

			
	1	 	Currently in voluntary liquidation

7

 

Part B

List of Indemnitees

	•	 	Gregory Alan Cole
	 
	•	 	Olivier Dorier
	 
	•	 	Stewart Kam-Cheong
	 
	•	 	Herman Schommarz
	 
	•	 	Helen Dorothy Golding
	 
	•	 	Allen Philip Hugli

8

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