Document:

exv4w413

EXHIBIT 4.413

SIG EURO HOLDING AG & CO. KGAA

as Pledgor

THE BANK OF NEW YORK MELLON

as Collateral Agent and Pledgee

 

SHARE PLEDGE AGREEMENT RELATING TO THE

SHARES IN SIG BEVERAGES GERMANY GMBH,

SIG INTERNATIONAL SERVICES GMBH, SIG

INFORMATION TECHNOLOGY GMBH, SIG

COMBIBLOC GMBH AND SIG COMBIBLOC

HOLDING GMBH

(Geschäftsanteilsverpfändung)

 

The taking of this document or any certified copy of it or any document which constitutes
substitute documentation for it, or any document which includes written confirmations or references
to it, into Austria as well as printing out any e-mail communication which refers to any Credit
Document (as defined in Clause 1 of this document) in Austria or sending any e-mail communication
to which a pdf scan of this document is attached to an Austrian addressee or sending any e-mail
communication carrying an electronic or digital signature which refers to any Credit Document to an
Austrian addressee may cause the imposition of Austrian stamp duty. Accordingly, keep the original
document as well as all certified copies thereof and written and signed references to it outside of
Austria and avoid printing out any email communication which refers to any Credit Document in
Austria or sending any e-mail communication to which a pdf scan of this document is attached to an
Austrian addressee or sending any e-mail communication carrying an electronic or digital signature
which refers to any Credit Document to an Austrian addressee.

 

 

Contents

	 	 	 	 	 
	Clause	 	Page	 
	1. Definitions and Language
	 	 	10	 
	2. Pledged Shares
	 	 	16	 
	3. Pledge
	 	 	17	 
	4. Scope of the Pledges
	 	 	17	 
	5. Purpose of the Pledges
	 	 	18	 
	6. Exercise of Membership Rights
	 	 	18	 
	7. Enforcement of the Pledges
	 	 	18	 
	8. Approval and Confirmation
	 	 	20	 
	9. Undertakings of the Pledgor
	 	 	20	 
	10. Delegation
	 	 	22	 
	11. Indemnity
	 	 	22	 
	12. No Liability
	 	 	22	 
	13. Duration and Independence
	 	 	23	 
	14. Release of Pledge (Pfandfreigabe)
	 	 	23	 
	15. Partial Invalidity; Waiver
	 	 	24	 
	16. Amendments
	 	 	24	 
	17. Notices and their Language
	 	 	24	 
	18. Notification
	 	 	26	 
	19. Applicable Law, Jurisdiction
	 	 	27	 
	Schedule 1 Lists of Current Borrowers, Current Guarantors, Current
Senior Secured Notes Guarantors, Current October 2010 Secured Notes
Guarantors and Original February 2011 Secured Notes Guarantors
	 	 	28	 
	Part 1 List of Current Borrowers
	 	 	28	 
	Part 2 List of Current Guarantors
	 	 	28	 
	Part 3 List of Current Senior Secured Notes Guarantors
	 	 	33	 
	Part 4 List of Current October 2010 Secured Notes Guarantors
	 	 	38	 
	Part 5 List of Original February 2011 Secured Notes Guarantors
	 	 	43	 
	Schedule 2 Copy of Shareholders Lists (Gesellschafterlisten)
	 	 	48	 

- 1 -

 

Deed Register No. 86 / 2011-G.

Recorded

in Frankfurt am Main on March 2, 2011

Before me, the undersigning Civil Law Notary in the district of the Higher Regional Court
(Oberlandesgericht) of Frankfurt am Main

Dr. Olaf Gerber

with my official place of business in Frankfurt am Main

appeared today:

	1.	 	Dr. David Witzel, born 5 February 1975, whose business address is Taubenstraße 7-9, 60313
Frankfurt am Main, and who is personally known to the notary.
	 
	2.	 	Tsampikos Trigenis, born 2 January 1973, whose business address is Bockenheimer Landstraße
24, 60323 Frankfurt am Main, and who identified himself by presenting his valid passport.

The person appearing to 1. declared to make the following declarations not in his own name but,
excluding any personal liability, for and on behalf of

	 	a)	 	SIG Combibloc Systems GmbH, a limited liability company (Gesellschaft mit beschränkter
Haftung) organised under the laws of the Federal Republic of Germany, having its business
address at Rurstraße 58, 52441 Linnich, Germany, which is registered in the commercial
register (Handelsregister) of the local court (Amtsgericht) of Düren under HRB 3935
	 
	 	 	 	presenting a. power of attorney dated February 28, 2011, a copy of which is attached to
this deed;
	 
	 	b)	 	SIG Combibloc Zerspanungstechnik GmbH, a limited liability company (Gesellschaft mit
beschränkter Haftung) organised under the laws of the Federal Republic of Germany having
its corporate seat in Aachen, Germany and its business address at Walkmiihlenstraße 4-10,
53074 Aachen, Germany, which is registered in the commercial register (Handelsregister) of
the local court (Amtsgericht) of Aachen under HRB 3814
	 
	 	 	 	presenting a power of attorney dated February 28, 2011, a copy of which is attached to this
deed,
	 
	 	c)	 	Closure Systems International S.V., a private company with limited liability (besloten
vennootschap met beperkte aansprakelijkheid), incorporated under the of The Netherlands,
having its corporate seat (statutaire zetel) in Amsterdam, The Netherlands and its
registered address at Teleportboulevard 140, 1043 EJ Amsterdam, The Netherlands, which is
registered under registration number 34291082 with the Chamber of Commerce

- 2 -

 

	 	 	 	presenting a power of attorney dated January 25, 2011, a copy of which is attached to this
deed,
	 
	 	d)	 	Closure Systems International Holdings (Germany) GmbH, a limited liability company
(Gesellschaft mit beschränkter Haftung) organised under the laws of the Federal Republic of
Germany having its corporate seat in Worms, Germany and its business address at Mainzer
Straße 185, 67547 Worms, Germany, which is registered in the commercial register
(Handelsregister) of the local court (Amtsgericht) of Mainz under HRB 41388
	 
	 	 	 	presenting a power of attorney undated, a copy of which is attached to this deed,
	 
	 	e)	 	Closure Systems International Deutschland GmbH, a limited liability company
(Gesellschaft mit beschränkter Haftung) organised under the laws of the Federal Republic of
Germany having its corporate seat in Worms, Germany and its business address at Mainzer
Straße 185, 67547 Worms, Germany, which is registered in the commercial register
(Handelsregister) of the local court (Amtsgericht) of Mainz under HRB 10054
	 
	 	 	 	presenting a power of attorney dated March 1, 2011, a copy of which is attached to this
deed,
	 
	 	f)	 	SIG Combibloc Group AG, a stock corporation (Aktiengesellschaft) organised under the
laws of Switzerland, having its business address at Laufengasse 18, CH-8212 Neuhausen am
Rheinfall, Switzerland, which is registered in the commercial register (Handelsregister) of
the Canton of Schaffhausen under the federal register number CH-290.3.004.149-2
	 
	 	 	 	presenting a power of attorney dated February 23, 2011, a copy of which is attached to this
deed,
	 
	 	g)	 	SIG Combibloc Holding GmbH, a limited liability company (Gesellschaft mit beschränkter
Haftung) organised under the laws of the Federal Republic of Germany having its business
address at Rurstraße 58, 52441 Linnich, Germany, which is registered in the commercial
register (Handelsregister) of the local court (Amtsgericht) of Düren under HRB 5751
	 
	 	 	 	presenting a power of attorney dated February 28, 2011, a copy of which is attached to this
deed,
	 
	 	h)	 	SIG Euro Holding AG & Co. KG aA, a limited liability company (Kommanditgesellschaft auf
Aktien) organised under the laws of the Federal Republic of Germany, having its business
address at Rurstraße 58, 52441 Linnich, Germany, which is registered in the commercial
register (Handelsregister) of the local court (Amtsgericht) of Düren under HRB 5754
	 
	 	 	 	presenting a power of attorney dated February 28, 2011, a copy of which is attached to this
deed,
	 
	 	i)	 	SIG Beverages Germany GmbH, a limited liability company (Gesellschaft mit beschränkter
Haftung) organised under the laws of the Federal Republic of Germany having its corporate
seat in Waldshut-Tiengen, Germany and its business address at

- 3 -

 

	 	 	 	Weilheimer Straße 5, 79761 Waldshut-Tiegen, Germany, which is registered in the commercial
register (Handelsregister) of the local court (Amtsgericht) of Freiburg i. Br. under HRB
702482

	 	 	 	presenting a power of attorney dated February 28, 2011, a copy of which is attached to this
deed,
	 
	 	j)	 	SIG International Services GmbH, a limited liability company (Gesellschaft mit
beschränkter Haftung) organised under the laws of the Federal Republic of Germany having
its corporate seat in Linnich, Germany and its business address at Rurstraße 58, 52441
Linnich, Germany, which is registered in the commercial register (Handelsregister) of the
local court (Amtsgericht) of Düren under HRB 3925
	 
	 	 	 	presenting a power of attorney dated February 28, 2011, a copy of which is attached to this
deed,
	 
	 	k)	 	SIG Information Technology GmbH, a limited liability company (Gesellschaft mit
beschränkter Haftung) organised under the laws of the Federal Republic of Germany having
its corporate seat in Linnich, Germany and its business address at Rurstraße 58, 52441
Linnich, Germany, which is registered in the commercial register (Handelsregister) of the
local court (Amtsgericht) of Düren under HRB 4050
	 
	 	 	 	presenting a power of attorney dated February 28, 2011, a copy of which is attached to this
deed,
	 
	 	l)	 	SIG Combibloc GmbH, a limited liability company (Gesellschaft mit beschränkter Haftung)
organised under the laws of the Federal Republic of Germany having its corporate seat in
Linnich, Germany and its business address at Rurstraße 58, 52441 Linnich, Germany, which is
registered in the commercial register (Handelsregister) of the local court (Amtsgericht) of
Düren under HRB 5182
	 
	 	 	 	presenting a power of attorney dated February 28, 2011, a copy of which is attached to this
deed,
	 
	 	m)	 	SIG Vietnam Beteiligungs GmbH, a limited liability company (Gesellschaft mit
beschränkter Haftung) organised under the laws of the Federal Republic of Germany having
its corporate seat in Waldshut-Tiengen, Germany and its business address at Weilheimer
Straße 5, 79761 Waldshut-Tiegen, Germany, which is registered in the commercial register
(Handelsregister) of the local court (Amtsgericht) of Freiburg i. Br. under HRB 621587
	 
	 	 	 	presenting a power of attorney dated February 28, 2011, a copy of which is attached to this
deed,
	 
	 	n)	 	Pactiv Deutschland Holdinggesellschaft mbH, a limited liability company (Gesellschaft
mit beschränkter Haftung) organised under the laws of the Federal Republic of Germany,
having its business address at Friedensallee 23-25, 22765 Hamburg, Germany, which is
registered in the commercial register (Handelsregister) of the local court (Amtsgericht) of
Hamburg under HRB 71774

- 4 -

 

	 	 	 	presenting a power of attorney dated February 22, 2011, a copy of which is attached to this
deed,
	 
	 	o)	 	Omni-Pac Ekco GmbH Verpackungsmittel, a limited liability company (Gesellschaft mit
beschränkter Haftung) organised under the laws of the Federal Republic of Germany, having
its corporate seat in Hamburg, Germany and its business address at Friedensallee 23-25,
22765 Hamburg, Germany, which is registered in the commercial register (Handelsregister) of
the local court (Amtsgericht) of Hamburg under HRB 102663
	 
	 	 	 	presenting a power of attorney dated February 22, 2011, a copy of which is attached to this
deed,
	 
	 	p)	 	Omni-Pac GmbH Verpackungsmittel, a limited liability company (Gesellschaft mit
beschränkter Haftung) organised under the laws of the Federal Republic of Germany, having
its corporate seat in Elsfleth, Germany and its business address at Am Tidehafen 5, 26931
Elsfleth, Germany, which is registered in the commercial register (Handelsregister) of the
local court (Amtsgericht) of Oldenburg under HRB 201738
	 
	 	 	 	presenting a power of attorney dated February 22, 2011, a copy of which is attached to this
deed,
	 
	 	q)	 	Pactiv Hamburg Holdings GmbH, a limited liability company (Gesellschaft mit
beschränkter Haftung) organised under the laws of the Federal Republic of Germany having
its corporate seat in Hamburg, Germany and its business address at Friedensallee 25, 22765
Hamburg, Germany, which is registered in the commercial register (Handelsregister) of the
local court (Amtsgericht) of Hamburg under HRB 106481
	 
	 	 	 	presenting a power of attorney dated February 22, 2011, a copy of which is attached to this
deed,
	 
	 	r)	 	Pactiv Corporation, a company organised under the laws of Delaware, with the corporate
identity number 0624402 having its business address at 1900 West Field Court, Lake Forest,
IL 60045, USA
	 
	 	 	 	presenting a power of attorney dated February 28, 2011, a copy of which is attached to this
deed,

The person appearing to 2. declared to make the following declarations not in his own name but,
excluding any personal liability, for and on behalf of

	 	 	 	The Bank of New York Mellon, having its business address at 1 Wall Street, New York, NY
10286, The United States of America,
	 
	 	 	 	presenting a power of attorney dated December 29, 2010, a copy of which is attached to this
deed;

- 5 -

 

Neither the Notary nor the proxies assume any liability as to the validity and/or the scope of the
powers of attorney presented.

In the case a certified copy of the power/sub-power of attorney is attached to this deed, the
original was presented to the notary and it is herewith certified that the attached copies are true
and correct copies of the original powers/sub-powers of attorney presented to me. In the case only
a simple copy is attached, originals shall be provided to the notary in due course. Certified
copies thereof shall be sealed to the present deed.

The Notary convinced himself that the persons appearing are in adequate command of the English
language and declared that he is in command of the English language as well.

The persons appearing stated that the parties represented by them requested that this instrument be
recorded in the English language.

On being asked whether there had been any prior involvement by the Notary in terms of Section 3
para 1 no 7 of the German Notarisation Act (Beurkundungsgesetz) the provisions of which had been
explained by the Notary, the persons appearing said that there had been no such prior involvement.

The deponents, acting as aforesaid, then requested the notary to notarise the

Share Pledge Agreements

attached to this deed as appendices 1 to 9 with its schedules. These Share Pledge Agreements
with the exclusion of its table of contents forms an integral part of this deed.

The Notary advised the persons appearing:

	 	•	 	that a pledge is a security instrument of strictly accessory nature (which means that it
comes into legal existence only if, to the extent that, and as long as, the underlying
secured claims do in fact exist, and that the owners of the secured claims and the pledgees
must be identical);
	 
	 	•	 	that notwithstanding Section 16 para 3 German Limited Liability Companies Act (Gesetz
betreffend die Gesellschaft mit beschränkter Haftung) there is no bona fide creation,
acquisition nor ranking of a pledge of shares/interests (in the sense that the pledgees are
protected if the shares/interests purported to be pledged do not exist or have been
previously encumbered for the benefit of a third party); and
	 
	 	•	 	that the English original version of this Agreement will not be acceptable for
enforcement but will have to be translated, by a certified translator, into German for such
purposes.

This deed with appendices 1 to 9 including their schedules 1 but excluding their table of contents
was read aloud by the notary to the deponents, was approved by the deponents and was signed by the
deponents and the notary in their own hands as follows:

	 	 	 	 	 

	/s/ Dr. Olaf Gerber

	 	/s/ Dr. David Witzel
	 	/s/ Tsampikos Trigenis

- 6 -

 

This SHARE PLEDGE AGREEMENT (the “Agreement”) is made on March 2, 2011

BETWEEN:

	(1)	 	SIG Euro Holding AG & Co. KG aA, a limited liability company (Gesellschaft mit beschränkter
Haftung) organised under the laws of the Federal Republic of Germany, having its business
address at Rurstraße 58, 52441 Linnich, Germany, which is registered in the commercial
register (Handelsregister) of the local court (Amtsgericht) of Düren under HRB 5754 (the
“Pledgor”);
	 
	(2)	 	SIG Beverages Germany GmbH, a limited liability company (Gesellschaft mit beschränkter
Haftung) organised under the laws of the Federal Republic of Germany having its corporate seat
in Waldshut-Tiengen, Germany and its business address at Weilheimer Straße 5, 79761
Waldshut-Tiegen, Germany, which is registered in the commercial register (Handelsregister) of
the local court (Amtsgericht) of Freiburg i. Br. under HRB 702482 (the “Company 1”);
	 
	(3)	 	SIG International Services GmbH, a limited liability company (Gesellschaft mit beschränkter
Haftung) organised under the laws of the Federal Republic of Germany having its corporate seat
in Linnich, Germany and its business address at Rurstraße 58, 52441 Linnich, Germany, which is
registered in the commercial register (Handelsregister) of the local court (Amtsgericht) of
Düren under HRB 3925 (the “Company 2”);
	 
	(4)	 	SIG Information Technology GmbH, a limited liability company (Gesellschaft mit beschränkter
Haftung) organised under the laws of the Federal Republic of Germany having its corporate seat
in Linnich, Germany and its business address at Rurstraße 58, 52441 Linnich, Germany, which is
registered in the commercial register (Handelsregister) of the local court (Amtsgericht) of
Düren under HRB 4050 (the “Company 3”);
	 
	(5)	 	SIG Combibloc Holding GmbH, a limited liability company (Gesellschaft mit beschränkter
Haftung) organised under the laws of the Federal Republic of Germany having its corporate seat
in Linnich, Germany and its business address at Rurstraße 59, 52441 Linnich, Germany, which is
registered in the commercial register (Handelsregister) of the local court (Amtsgericht) of
Düren under HRB 5751 (the “Company 4”);
	 
	(6)	 	SIG Combibloc GmbH, a limited liability company (Gesellschaft mit beschränkter Haftung)
organised under the laws of the Federal Republic of Germany having its corporate seat in
Linnich, Germany and its business address at Rurstraße 58, 52441 Linnich, Germany, which is
registered in the commercial register (Handelsregister) of the local court (Amtsgericht) of
Düren under HRB 5182 (the “Company 5” and together with Company 1, Company 2, Company 3 and
Company 4 the “Companies”); and

- 7 -

 

	(7)	 	The Bank of New York Mellon, having its business address at 1 Wall Street, New York, N.Y.
10286, The United States of America, in its capacity as collateral agent under the First Lien
Intercreditor Agreement (as defined below) (the “Collateral Agent ” or the “Pledgee”).

WHEREAS:

	(A)	 	Pursuant to a multi-currency term and revolving credit agreement dated 5 November 2009 (as
amended and/or restated by the Amendment No.1 (as defined below), by the Amendment No. 2 and
Incremental Term Loan Assumption Agreement (as defined below), by the Amendment No. 3 and
Incremental Term Loan Assumption Agreement (as defined below) and by the Amendment No. 4 and
Incremental Term Loan Assumption Agreement (as defined below)) between, inter alia, the
parties listed in Part 1 of Schedule 1 hereto as current borrowers (the “Current Borrowers”),
the parties listed in Part 2 of Schedule 1 hereto as current guarantors (the “Current
Guarantors”), Credit Suisse AG, Cayman Islands Branch (formerly Credit Suisse Cayman Islands
Branch) as administrative agent and others (as further amended, varied, novated, restated,
supplemented, superseded or extended from time to time, the “Credit Agreement”), certain
lenders (together the “Original Lenders”) have granted certain facilities to the Current
Borrowers and certain other entities which may accede or may have acceded to the Credit
Agreement as additional borrowers.
	 
	(B)	 	Pursuant to a senior secured notes indenture dated 5 November 2009 between, inter alia,
Reynolds Group Issuer LLC, Reynolds Group Issuer Inc., and Reynolds Group Issuer (Luxembourg)
S.A as issuers (the “Issuers”), certain affiliates of the Issuers listed in Part 3 of
Schedule 1 as current senior secured notes guarantors (the “Current Senior Secured Notes
Guarantors”) and The Bank of New York Mellon, as indenture trustee, principal paying agent,
transfer agent and registrar, (as amended, varied, novated, supplemented, superseded or
extended from time to time, the “Senior Secured Notes Indenture”), the Issuers have issued
senior secured notes due 2016 in the aggregate principal amount of USD 1,125,000,000 (the “US
Secured Notes”) and senior secured notes due 2016 in the aggregate principal amount of EUR
450,000,000 (the “Euro Secured Notes” and together with the US Secured Notes the “Senior
Secured Notes”) to certain noteholders.
	 
	(C)	 	Pursuant to a senior secured notes indenture dated 15 October 2010 between, inter alia, RGHL
Issuer I LLC, RGHL Issuer I Inc., and RGHL Issuer (Luxembourg) I S.A. as escrow issuers (the
“Escrow Issuers”), The Bank of New York Mellon as indenture trustee, The Bank of New York
Mellon, London Branch as principal paying agent, The Bank of New York Mellon as collateral
agent and Wilmington Trust (London) Limited as collateral agent (as amended, varied, novated,
supplemented, superseded or extended from time to time, the “October 2010 Secured Notes
Indenture”), the Escrow Issuers have issued secured notes due 2019 in the aggregate

- 8 -

 

	 	 	principal amount of USD 1,500,000,000 in escrow (the “ October 2010 Secured Notes”). In
connection with the release from escrow of the proceeds of the October 2010 Secured Notes,
which occurred on 16 November 2010, the Escrow Issuers were merged with and into the
Issuers, with each of the Issuers surviving the applicable mergers or other transfers and
assuming by operation of law the obligations of the applicable Escrow Issuers with respect
to the October 2010 Secured Notes Indenture and the October 2010 Secured Notes. Certain
affiliates of the Issuers listed in Schedule 1Part 4have acceded to the October 2010 Secured
Notes Indenture as guarantors (the “Current October 2010 Secured Notes Guarantors”).

	(D)	 	Pursuant to a senior secured notes indenture dated 1 February 2011 between, inter alia, the
Issuers, The Bank of New York Mellon as indenture trustee, The Bank of New York Mellon, London
Branch as principal paying agent, The Bank of New York Mellon as collateral agent and
Wilmington Trust (London) Limited as collateral agent (as amended, varied, novated,
supplemented, superseded or extended from time to time, the “February 2011 Secured Notes
Indenture”), the Issuers have issued secured notes due 2021 in the aggregate principal amount
of USD 1,000,000,000 (the “February 2011 Secured Notes”) which are guaranteed by certain
affiliates of the Issuers listed in Schedule 1Part 5as original February 2011 secured notes
guarantors (the “Original February 2011 Secured Notes Guarantors”).
	 
	(E)	 	The Pledgor has entered into the Existing Share Pledge Agreements (as defined below).
	 
	(F)	 	As a result of the amendment No. 4 and incremental term loan assumption agreement dated 9
February 2011 relating to the Credit Agreement between, inter alia, the Current Borrowers, the
Current Guarantors, Credit Suisse AG, Cayman Islands Branch (formerly Credit Suisse, Cayman
Islands Branch) as administrative agent and others (the “Amendment No. 4 and Incremental Term
Loan Assumption Agreement”) the Credit Agreement inter alia includes new incremental term
facilities.
	 
	(G)	 	The Pledgor has agreed to grant an additional pledge (subject to the pledges arising under
the Existing Share Pledge Agreements (as defined below)) over its Shares (as defined below) in
the Companies as security for the Pledgee’s respective claims against the Grantors (as defined
below) (or any of them) in respect of the Obligations (as defined below).
	 
	(H)	 	The security created by or pursuant to this Agreement is to be administered by the Collateral
Agent for the Secured Parties (as defined below) pursuant to a first lien intercreditor
agreement dated 5 November 2009 (as amended by the Amendment No. 1 and Joinder Agreement (as
defined below)) between, inter alia, the Collateral Agent, the Indenture Trustee, the
Administrative Agent and the Grantors (each as defined below) and others (as amended, varied,
novated, supplemented, superseded or extended from time to time, the “First Lien Intercreditor
Agreement”).

- 9 -

 

NOW, IT IS AGREED as follows:

	1.	 	DEFINITIONS AND LANGUAGE
	 
	1.1	 	In this Agreement:
	 
	 	 	“Administrative Agent” means Credit Suisse AG, Cayman Islands Branch, having its business
address at Eleven Madison Avenue, New York, NY 10010, United States of America in its
capacity as administrative agent under the Credit Agreement and any successor appointed as
administrative agent under the Credit Agreement.
	 
	 	 	“Amendment No. 1” means the amendment agreement dated 21 January 2010 relating to the Credit
Agreement between, inter alia, the borrowers and the guarantors under the Credit Agreement
as of such date, the Administrative Agent and others.
	 
	 	 	“Amendment No.1 and Joinder Agreement” means the joinder agreement dated 21 January 2010
relating to the First Lien Intercreditor Agreement made among (amongst others) the
Collateral Agent, Wilmington Trust (London) Limited, Credit Suisse AG and Reynolds Group
Holdings Limited pursuant to which Wilmington Trust (London) Limited is appointed as
additional collateral agent and became party to the First Lien Intercreditor Agreement.
	 
	 	 	“Amendment No. 2 and Incremental Term Loan Assumption Agreement” means the amendment and
incremental term loan assumption agreement dated 4 May 2010 relating to the Credit Agreement
between, inter alia, the borrowers and the guarantors under the Credit Agreement as of such
date, the Administrative Agent and others.
	 
	 	 	“Amendment No. 3 and Incremental Term Loan Assumption Agreement” means the amendment and
incremental term loan assumption agreement dated 30 September 2010 relating to the Credit
Agreement between, inter alia, the borrowers and the guarantors under the Credit Agreement
as of such date, the Administrative Agent and others.
	 
	 	 	“Borrowers” means the Current Borrowers and any entity which may accede to the Credit
Agreement as an additional borrower and “Borrower” means any of them.
	 
	 	 	“Cash Management Bank” shall mean Citibank N.A., Banco Nacional De Mexico S.A.,
Citibank International PLC, UK, Citibank (China) Co., Limited, Citibank Global Markets
Deutschland AG & Co KGaA, Citibank ZRT, Hungary, a Lender, the Administrative Agent or any
of the Lender’s or the Administrative Agent’s affiliates (at the time the cash management
services arrangement is entered into) provided in each case it has become a party to, or by
execution of an additional bank secured party acknowledgment has agreed to be bound by the
terms of, the First Lien Intercreditor Agreement in its capacity as cash management bank.

- 10 -

 

	 	 	“Cash Management Services” shall mean any agreement or arrangement by a Cash Management
Bank to provide any composite accounting or other cash pooling arrangements and netting,
overdraft protection and other arrangements with any bank arising under standard business
terms of such Cash Management Bank to a Grantor.
	 
	 	 	“Credit Documents” shall mean the Loan Documents, the Senior Secured Notes Documents,
the October 2010 Secured Notes Documents and the February 2011 Secured Notes Documents.
	 
	 	 	“Enforcement Event” shall mean an Event of Default.
	 
	 	 	“Event of Default” means any event of default (Kündigungsgrund) under the Credit
Agreement and/or the Senior Secured Notes Indenture and/or the October 2010 Secured Notes
Indenture and/or the February 2011 Secured Notes Indenture.
	 
	 	 	“Existing Intercreditor Agreement” means the existing intercreditor agreement dated 11
May 2007 (as amended by a letter dated 21 June 2007 and a further letter dated 29 June 2007,
as amended and restated on 5 November 2009 and as further amended on 5 November 2010)
between, inter alia, Beverage Packaging Holdings (Luxembourg) I S.A., Rank Group Holdings
Limited (now Reynolds Group Holdings Limited), Beverage Packaging Holdings (Luxembourg) II
S.A., Beverage Packaging Holdings (Luxembourg) III S.à r.l., Credit Suisse AG (formerly
Credit Suisse) as security trustee and others.
	 
	 	 	“Existing Share Pledge Agreements” means

	 	a)	 	the share pledge agreement dated 5 November 2009 (as amended by a confirmation
and amendment agreement dated 4 May 2010) entered into between SIG Euro Holding AG &
Co. KGaA as pledgor and The Bank of New York Mellon as Collateral Agent and as
pledgee and others as pledgees;
	 
	 	b)	 	a confirmation and amendment agreement dated 4 May 2010 entered into between,
inter alios, SIG Euro Holding AG & Co. KG aA as pledgor and The Bank of New York Mellon
as Collateral Agent and others (the “Confirmation and Amendment Agreement”); and
	 
	 	c)	 	the share pledge agreement dated 16 November 2010 entered into between SIG Euro
Holding AG & Co. KGaA as pledgor and The Bank of New York Mellon as Collateral Agent
and as pledgee.

	 	 	“Existing Shares” has the meaning given to such term in sub-Clause 2.1 hereof.
	 
	 	 	“February 2011 Secured Notes Documents” shall mean the February 2011 Secured Notes
Indenture, the February 2011 Secured Notes Guarantees, the February 2011 Secured Notes, the
Intercreditor Arrangements, any supplemental indenture, any security document relating to
the February 2011 Secured Notes and/or the February

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	 	 	2011 Secured Notes Indenture and any other document that may be entered into pursuant to any
of the foregoing.

	 	 	“February 2011 Secured Notes Guarantees” shall mean the guarantees of the obligations
of the Issuers under the February 2011 Secured Notes and the February 2011 Secured Notes
Indenture by the February 2011 Secured Notes Guarantors.
	 
	 	 	“February 2011 Secured Notes Guarantors” means the Original February 2011 Secured Notes
Guarantors and any entity which may accede to the February 2011 Secured Notes Indenture as
additional guarantor.
	 
	 	 	“February 2011 Secured Notes Holders” shall mean the holders from time to time of the
February 2011 Secured Notes.
	 
	 	 	“February 2011 Secured Notes Indenture Trustee” shall mean The Bank of New York Mellon,
in its capacity as indenture trustee under the February 2011 Secured Notes Indenture and any
successor appointed as indenture trustee under the February 2011 Secured Notes Indenture.
	 
	 	 	“Future Shares” means all additional shares in the capital of the Companies
(irrespective of their nominal value) which the Pledgor may acquire in the future in the
event of a share transfer, a share split, a share combination, an increase of the capital of
any of the Companies (including by way of authorised capital (genehmigtes Kapital)) or
otherwise.
	 
	 	 	“Grantors” means the Loan Parties, the Issuers, the Senior Secured Notes Guarantors, the
October 2010 Secured Notes Guarantors and the February 2011 Secured Notes Guarantors and any
person that has granted a security interest to the Collateral Agent and/or the Secured
Parties in respect of the obligations of the Loan Parties, the Issuers and the Senior
Secured Notes Guarantors under the Credit Documents and “Grantor” means any of them.
	 
	 	 	“Group” means Reynolds Group Holdings Limited and its direct or indirect subsidiaries
(Tochtergesellschaften).
	 
	 	 	“Hedge Counterparty” means a Lender, the Administrative Agent or any of the Lender’s or
the Administrative Agent’s affiliates (at the time a hedging agreement is entered into) who
has entered into a hedging agreement for the purpose of hedging interest rate liabilities
and/or any exchange rate and/or commodity price risks provided it has become a party, or by
execution of an additional bank secured party acknowledgment has agreed to be bound by the
terms of, to the First Lien Intercreditor Agreement in its capacity as hedge counterparty.
	 
	 	 	“Incremental Assumption Agreement” shall mean an incremental assumption agreement
relating to incremental facilities of up to USD 750,000,000 among, and in form and substance
reasonably satisfactory to, one or more Borrowers, the

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	 	 	Administrative Agent, one or more Incremental Term Lenders and/or one or more Incremental
Revolving Credit Lenders pursuant to which one or more Incremental Term Lenders make
available Incremental Term Loan Commitments and/or one or more Incremental Revolving Credit
Lenders make available Incremental Revolving Credit Commitments respectively.

	 	 	“Incremental Revolving Credit Lender” shall mean a Lender with an Incremental Revolving
Credit Commitment or an outstanding revolving loan under the Credit Agreement of any class
as a result of an Incremental Revolving Credit Commitment.
	 
	 	 	“Incremental Revolving Credit Commitment” shall mean the commitment of any Lender,
established pursuant to the Credit Agreement, to make available certain revolving credit
loans to one or more Borrowers.
	 
	 	 	“Incremental Term Lender” shall mean a Lender with an Incremental Term Loan Commitment.
	 
	 	 	“Incremental Term Loan Commitment” shall mean the commitment of any Lender, established
pursuant to the Credit Agreement, to make available certain term loans to one or more
Borrowers.
	 
	 	 	“Indenture Trustee” shall mean The Bank of New York Mellon, in its capacity as
indenture trustee under the Senior Secured Notes Indenture and any successor appointed as
indenture trustee under the Senior Secured Notes Indenture.
	 
	 	 	“Intercreditor Arrangements” means the First Lien Intercreditor Agreement and the
Existing Intercreditor Agreement, in each case as amended, novated, supplemented, restated,
or modified from time to time.
	 
	 	 	“Issuing Bank” means Credit Suisse AG or any other Lender or any affiliate of Credit Suisse
AG or any other Lender that issues letters of credit or bank guarantees under the Credit
Agreement.
	 
	 	 	“Lenders” shall mean the Original Lenders and any entity which may become a lender
under the Credit Agreement in the future and “Lender” means any of them.
	 
	 	 	“Loan Documents” shall mean the Credit Agreement, the Amendment No. 1 and Joinder Agreement,
the Amendment No. 1, the Amendment No. 2 and Incremental Term Loan Assumption Agreement, the
Amendment No. 3 and Incremental Term Loan Assumption Agreement, the Amendment No. 4 and
Incremental Term Loan Assumption Agreement, any borrowing subsidiary agreement and/or
guarantor joinder agreement relating to the Credit Agreement, any letter of credit or bank
guarantee relating to the Credit Agreement, any security documents relating to the Credit
Agreement, any hedging agreement entered into by a Hedge Counterparty and a Grantor, each
Incremental Assumption Agreement, the Intercreditor Arrangements, each Promissory Note, any
agreement between a Grantor and a Cash Management

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	 	 	Bank relating to Cash Management Services, each Local Facility Agreement and any other
document that may be entered into pursuant to any of the foregoing in relation to the Credit
Agreement.

	 	 	“Loan Parties” shall mean the Borrowers, the Current Guarantors and any entity which may
accede to the Credit Agreement as additional guarantor and a “Loan Party” means any of them.
	 
	 	 	“Local Facilities” means working capital facilities provided to a Grantor (other than
Beverage Packaging Holdings (Luxembourg) I S.A., Beverage Packaging Holdings (Luxembourg) II
S.A. Beverage Packaging Holdings (Luxembourg) III S.à.r.l. and the Borrowers) by a Local
Facility Provider and “Local Facility” means any of them.
	 
	 	 	“Local Facility Agreements” shall mean any agreement under which a Local Facility is
made available.
	 
	 	 	“Local Facility Provider” means HSBC Trinkaus & Burkhardt AG, Deutsche Bank AG,
Commerzbank Aktiengesellschaft and Hong Kong and Shanghai Banking Corporation Ltd.,
Thailand, Bank of America, N.A., Canada Branch, FIA Card Services, N.A., Citibank N.A.,
Citibank (China) Co., Ltd., Banco Nacional de Mexico, S.A., Integrante del Grupo Financiero
Banamex, Bank of America, N.A., provided in each case it has become a party to, or by
execution of an additional bank secured party acknowledgment has agreed to be bound by the
terms of, the First Lien Intercreditor Agreement in its capacity as local facility provider.
	 
	 	 	“Obligations” shall mean all present and future obligations and liabilities (whether
actual or contingent and whether owed jointly or severally or in any other capacity
whatsoever) of each Grantor to the Pledgee under each or any of the Credit Documents
(including, but not limited to, the Parallel Obligations), including with respect to all
costs, charges and expenses incurred by the Pledgee in connection with the protection,
preservation or enforcement of its rights under the Credit Documents or any other document
evidencing or securing any such liabilities. The Obligations shall further include any
obligation based on unjust enrichment (ungerechtfertigte Bereicherung) or tort (Delikt).
	 
	 	 	“October 2010 Secured Notes Documents” shall mean the October 2010 Secured Notes
Indenture, the October 2010 Secured Notes Guarantees, the October 2010 Secured Notes, the
Intercreditor Arrangements, any security document relating to the October 2010 Secured Notes
and/or the October 2010 Secured Notes Indenture and any other document that may be entered
into pursuant to any of the foregoing.
	 
	 	 	“October 2010 Secured Notes Guarantees” shall mean the guarantees of the obligations of
the Issuers under the October 2010 Secured Notes and the October 2010 Secured Notes
Indenture by the October 2010 Secured Notes Guarantors.
	 
	 	 	“October 2010 Secured Notes Guarantors” means the Current October 2010

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	 	 	Secured Notes Guarantors and any entity which may accede to the October 2010 Secured Notes
Indenture as additional guarantor.

	 	 	“October 2010 Secured Notes Holders” shall mean the holders from time to time of the
October 2010 Secured Notes.
	 
	 	 	“October 2010 Secured Notes Indenture Trustee” shall mean The Bank of New York Mellon,
in its capacity as indenture trustee under the October 2010 Secured Notes Indenture and any
successor appointed as indenture trustee under the October 2010 Secured Notes Indenture.
	 
	 	 	“Parallel Obligations” means the independent obligations of any of the Grantors arising
pursuant to the First Lien Intercreditor Agreement to pay to the Collateral Agent sums equal
to the sums owed by such Grantor to the other Secured Parties (or any of them) under the
Credit Documents.
	 
	 	 	“Pledge” means each pledge constituted under this Agreement.
	 
	 	 	“Principal Finance Documents” means the Credit Agreement, the Senior Secured Notes
Indenture, the October 2010 Secured Notes Indenture, the February 2011 Secured Notes
Indenture and the First Lien Intercreditor Agreement.
	 
	 	 	“Promissory Note” shall mean any promissory note executed and delivered by a Borrower
upon the request of a Lender evidencing the amount of principal owed by such Borrower to
such Lender under the Credit Agreement.
	 
	 	 	“Secured Parties” shall mean the Lenders (including in their capacity as issuing
bank(s), and/or Hedge Counterparties under the Credit Agreement), the Hedge Counterparties,
the Administrative Agent, any Issuing Bank, the beneficiaries of each indemnification
obligation undertaken by any Grantor under any Credit Document, the Senior Secured Notes
Holders, the October 2010 Secured Notes Holders, the February 2011 Secured Notes Holders,
the Indenture Trustee, the October 2010 Secured Notes Indenture Trustee, the February 2011
Secured Notes Indenture Trustee, the Collateral Agent, the Local Facility Providers and the
Cash Management Banks.
	 
	 	 	“Senior Secured Notes Documents” shall mean the Senior Secured Notes Indenture, the
Senior Secured Notes Guarantees, the Senior Secured Notes, the Intercreditor Arrangements,
any supplemental indenture, any security document relating to the Senior Secured Notes
and/or the Senior Secured Notes Indenture and any other document that may be entered into
pursuant to any of the foregoing.
	 
	 	 	“Senior Secured Notes Guarantees” shall mean the guarantees of the obligations of the
Issuers under the Senior Secured Notes and the Senior Secured Notes Indenture by the Senior
Secured Notes Guarantors.

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	 	 	“Senior Secured Notes Guarantors” means the Current Senior Secured Notes Guarantors and
any entity which may accede to the Senior Secured Notes Indenture as additional guarantor.
	 
	 	 	“Senior Secured Notes Holders” shall mean the holders from time to time of the Senior
Secured Notes.
	 
	 	 	“Shares” means the Existing Shares and the Future Shares.
	 
	1.2	 	In this Agreement any reference in this Agreement to a “Clause” or a “sub-Clause” shall,
subject to any contrary indication, be construed as a reference to a Clause or sub-Clause
hereof.
	 
	1.3	 	This Agreement is made in the English language. For the avoidance of doubt, the English
language version of this Agreement shall prevail over any translation of this Agreement.
However, where a German translation of a word or phrase appears in the text of this Agreement,
the German translation of such word or phrase shall prevail.
	 
	2.	 	PLEDGED SHARES
	 
	2.1	 	The Company 1 has a nominal share capital (Stammkapital) of EUR 50,000 (in words: Euro fifty
thousand) which consists of one share (the “Existing Shares 1”).
	 
	 	 	The Company 2 has a nominal share capital (Stammkapital) of EUR 1,000,000 (in words: Euro
one million) which consists of one share (the “Existing Shares 2”).
	 
	 	 	The Company 3 has a nominal share capital (Stammkapital) of EUR 5,000,000 (in words: Euro
five million) which is divided into two shares, one share in the nominal amount (Nennbetrag)
of EUR 100,000 (in words: Euro one hundred thousand) and one share in the nominal amount
(Nennbetrag) of EUR 400,000 (in words: Euro four hundred thousand) (the “Existing Shares
2”).
	 
	 	 	The Company 4 has a nominal share capital (Stammkapital) of EUR 5,200,000 (in words: Euro
five million two hundred thousand) which is divided into two shares. The Pledgor is the
owner of one share in Company 4 with a nominal amount (Nennbetrag) of EUR 4,939,480 (in
words: Euro four million nine hundred thirty-nine thousand four hundred eighty) carrying the
serial number (laufende Nummer) 1 (the “Existing Shares 4”)
	 
	 	 	The Company 5 has a nominal share capital (Stammkapital) of EUR 30,700,000 (in words: Euro
thirty million seven hundred thousand) which is divided into three shares. The Pledgor is
the owner of one share in Company 5 with a nominal amount (Nennbetrag) of EUR 307,000 (in
words: Euro three hundred seven thousand) (the “Existing Shares 5” and together with the
Existing Shares 1, the Existing Shares 2, the Existing Shares 3 and the Existing Shares 4
the “Existing Shares”).

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	2.2	 	The Pledgor is the owner of the Existing Shares and is registered as such in the relevant
shareholders list (Gesellschafterliste) of the Companies as filed (aufgenommen) with the
commercial register (Handelsregister), a copy of which is attached as Schedule 2 (Copy of
Shareholders Lists).
	 
	3.	 	PLEDGE
	 
	3.1	 	The Pledgor hereby pledges to the Pledgee the Shares together with all ancillary rights and
claims associated with the Shares as more particularly specified in Clause 4 (the “Pledges”).
	 
	3.2	 	The Pledgee hereby accepts the Pledges.
	 
	3.3	 	The Pledge is in addition, and without prejudice, to any other security the Secured Parties
may now or hereafter hold in respect of the Obligations.
	 
	4.	 	SCOPE OF THE PLEDGES
	 
	4.1	 	The Pledges constituted by this Agreement include:

	 	(a)	 	the present and future rights to receive:

	 	(i)	 	dividends attributable to the Shares, if any; and
	 
	 	(ii)	 	liquidation proceeds, redemption proceeds (Einziehungsentgelt),
repaid capital in case of a capital decrease, any compensation in case of
termination (Kündigung) and/or withdrawal (Austritt) of a shareholder of the
Companies, the surplus in case of surrender (Preisgabe), any repayment claim
for any additional capital contributions (Nachschüsse) and all other pecuniary
claims associated with the Shares;

	 	(b)	 	the right to subscribe for newly issued shares; and
	 
	 	(c)	 	all other rights and benefits attributable to the Shares capable of being
pledged (verpfändbar) (including without limitation all present and future pecuniary
claims of the Pledgor against any of the Companies arising under or in connection with
any domination and/or profit transfer agreement (Beherrschungs- und/oder
Gewinnabführungsvertrag) or partial profit transfer agreement
(Teilgewinnabführungsvertrag) which may be entered into between the Pledgor and any of
the Companies).

	4.2	 	Notwithstanding that the items set out in Clause 4.1 above are pledged hereunder, the Pledgor
shall be entitled to receive and retain the items set out in Clause 4.1 in respect of, and
otherwise deal (in accordance with the agreements between the parties) with all items
described in Clause 4.1 hereof in respect of the Shares at all times other than any time the
Pledgee is entitled to enforce the Pledges constituted hereunder.

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	4.3	 	On the date and during the period in which the Pledgee is entitled, in accordance with Clause
7 (Enforcement of the Pledges) hereof, to enforce the Pledges (or any part thereof):

	 	(a)	 	all dividends paid or payable and any other property received, receivable or
otherwise distributed in respect of or in exchange for the Shares;
	 
	 	(b)	 	all dividends or other distributions or payments paid or payable in respect of
the Shares in connection with the partial or total liquidation or dissolution of any
the Companies or in connection with the reduction of the amount of the registered share
capital of any of the Companies; and
	 
	 	(c)	 	all cash paid, payable or otherwise distributed in respect of the principal of,
or in redemption of, or in exchange for the Shares,

	 	 	shall be forthwith delivered to the Pledgee and held as security for and on behalf of the
Secured Parties. If such proceeds or property are received by the Pledgor, they shall be
received as trustee for the benefit of the Pledgee and shall be segregated from other
property or funds of the Pledgor and shall be forthwith delivered to the Pledgee as security
in the form so received (with any necessary endorsement).
	 
	5.	 	PURPOSE OF THE PLEDGES
	 
	 	 	The Pledges hereunder are constituted in order to secure the prompt and complete
satisfaction of any and all Obligations. The Pledges shall also cover any future extension
of the Obligations and the Pledgor herewith expressly agrees that the provisions of Section
1210 para 1 sentence 2 of the German Civil Code (Bürgerliches Gesetzbuch) shall not apply to
this Agreement.
	 
	6.	 	EXERCISE OF MEMBERSHIP RIGHTS
	 
	 	 	The membership rights, including the voting rights, attached to the Shares remain with the
Pledgor. The Pledgor may exercise its membership rights in any manner which does not
adversely affect the validity and enforceability of the Pledges, the existence of all or
part of the Shares or cause an Event of Default to occur. The Pledgor undertakes, unless
otherwise agreed between the parties, that no resolutions will be passed which would, if
passed, constitute a breach of its obligations under Clause 0 or any other obligation under
this Agreement.
	 
	7.	 	ENFORCEMENT OF THE PLEDGES
	 
	7.1	 	If (i) an Enforcement Event has occurred and is continuing and (ii) the requirements set
forth in Sections 1273 para 2, 1204 et seq. of the German Civil Code with regard to the
enforcement of any of the Pledges are met (Pfandreife), in particular, if any of the
Obligations has become due and payable, then in order to enforce the Pledges (or any of them),
the Pledgee may at any time thereafter avail itself of all rights and

- 18 -

 

	 	 	remedies that a pledgee has against a pledgor under the laws of the Federal Republic of
Germany.

	7.2	 	Notwithstanding Section 1277 of the German Civil Code, the Pledgee is entitled to exercise
its rights without obtaining enforceable judgment or other instrument (vollstreckbarer Titel).
The Pledgee shall be entitled to have the Pledges enforced in any manner allowed under the
laws of the Federal Republic of Germany, in particular have the Pledges sold (including at
public auction).
	 
	7.3	 	The Pledgor hereby expressly agrees that 5 (five) business days’ prior written notice to the
Pledgor of the place and time of any such sale shall be sufficient and the Pledgee shall not
be obliged to deliver any further notices (including, but not limited to the notices set out
under Section 1234 of the German Civil Code) to the Pledgor prior to such sale. The sale may
take place at any place in the Federal Republic of Germany designated by the Pledgee.
	 
	7.4	 	If the Pledgee should seek to enforce the Pledges under sub-Clause 7.1, the Pledgor shall, at
its own expense, render forthwith all necessary assistance in order to facilitate the prompt
sale of the Shares or any part thereof and/or the exercise by the Pledgee of any other right
it may have as Pledgee.
	 
	7.5	 	Whilst the requirements for enforcement under sub-Clause 7.1 are continuing, all subsequent
dividend payments attributable to the Shares and all payments based on similar ancillary
rights attributed to the Shares may be applied by the Pledgee in satisfaction in whole or in
part of the Obligations or treated as additional collateral.
	 
	7.6	 	Even if the requirements for enforcement referred to under sub-Clause 7.1 above are met, the
Pledgee shall not, whether as proxy or otherwise, be entitled to exercise the voting rights
attached to the Shares. However, the Pledgor shall, during the continuation of an event which
allows the Pledgee to enforce the Pledges, have the obligations and the Pledgee shall have the
rights set forth in sub-Clause 9.6 below regardless of which resolutions are intended to be
adopted.
	 
	7.7	 	The Pledgee may, in its sole discretion, determine which of several security interests, if
applicable, shall be used to satisfy the Obligations. The Pledgor hereby expressly waives its
right pursuant to Section 1230 sentence 2 of the German Civil Code to limit the realisation of
the Pledges and pledges over the shares or partnership interests in one or more other
companies to such number of pledges as are necessary to satisfy the Obligations and agrees
further that the Pledgee may decide to enforce the Pledge over the shares in the Companies
individually in separate proceedings or together with pledges over shares or partnership
interests in one or more other companies at one single proceeding (Gesamtverwertung).

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	7.8	 	The Pledgor hereby expressly waives all defences of revocation (Einrede der Anfechtbarkeit)
and set-off (Einrede der Aufrechenbarkeit) pursuant to Sections 770, 1211 of the German Civil
Code.
	 
	7.9	 	The Pledgor hereby expressly waives its defences based on defences any Grantor might have
against any of the Obligations (Einreden des Hauptschuldners) pursuant to Section 1211 para 1
sentence 1 alternative 1 of the German Civil Code.
	 
	7.10	 	If the Pledges are enforced or if the Pledgor has discharged any of the Obligations (or any
part of them), Section 1225 of the German Civil Code (legal subrogation of claims to a pledgor
 — Forderungsübergang auf den Verpfänder) shall not apply and no rights of the Pledgee shall
pass to the Pledgor by subrogation or otherwise. Further, the Pledgor shall at no time before,
on or after an enforcement of the Pledges and as a result of the Pledgor entering into this
Agreement, be entitled to demand indemnification or compensation from any of the Companies or
any of the Companies’ affiliates or to assign any of these claims.
	 
	8.	 	APPROVAL AND CONFIRMATION
	 
	 	 	The Pledgor as the sole shareholder of the Companies other than Company 4 and Company 5
hereby approves the Pledges over the Shares in Company 1, Company 2 and Company 3 and over
any and all ancillary rights and claims associated with the Shares (as more particularly
specified in Clause 4). Pursuant to the articles of association of each of Companies the
Pledges are not subject to any approval of the relevant Company.
	 
	9.	 	UNDERTAKINGS OF THE PLEDGOR
	 
	 	 	Unless otherwise agreed between the parties, during the term of this Agreement, the Pledgor
undertakes to the Pledgee:
	 
	9.1	 	to promptly effect any contributions in cash (Bareinlage) or kind (Sacheinlage) to be made in
respect of the Shares;
	 
	9.2	 	to inform the Pledgee promptly of any change made in the registered share capital of any of
the Companies, or any changes made to the articles of association of any of the Companies
which would materially adversely affect the security interest of the Pledgee and in each such
case to promptly deliver to the Pledgee a copy of the updated shareholders list
(Gesellschafterliste) and a copy of the amended articles of association (Satzung) both as
filed (aufgenommen) with the commercial register (Handelsregister);
	 
	9.3	 	to promptly notify the Pledgee, by notification in writing of the registration of an
objection (Widerspruch) in relation to the Shares of the Pledgor in the shareholders list
(Gesellschafterliste) as filed (aufgenommen) with the commercial register (Handelsregister).

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	9.4	 	to promptly notify the Pledgee, by notification in writing of any attachment (Pfändung) in
respect of any of the Shares or any ancillary rights set out in sub-Clause 4.1 such notice to
be accompanied by any documents the Pledgee might need to defend itself against any claim of a
third party. In particular, the Pledgor shall promptly forward to the Pledgee a copy of the
attachment order (Pfändungsbeschluss), any transfer order (Überweisungsbeschluss) and all
other documents necessary for a defence against the attachment;
	 
	9.5	 	in the event of any increase in the capital of any of the Companies, not to allow, without
the prior written consent of the Pledgee (such consent not to be unreasonably withheld), any
party other than himself to subscribe for any Future Shares, and not to defeat, impair or
circumvent in any way the rights of the Pledgee created hereunder;
	 
	9.6	 	to promptly inform the Pledgee, by notification in writing, of all matters concerning of any
of the Companies of which the Pledgor is aware which would materially adversely affect the
security interest of the Pledgee. In particular, the Pledgor shall notify the Pledgee, by
notification in writing, forthwith of any shareholders’ meeting at which a shareholders’
resolution is intended to be adopted which would have a materially adverse effect upon any of
the Pledges. The Pledgor shall allow, following the occurrence and during the continuance of
any of the circumstances which permit the Pledgee to enforce the Pledges constituted hereunder
in accordance with Clause 7, the Pledgee or, as the case may be, its proxy or any other person
designated by the Pledgee, to participate in all such shareholders’ meetings of any of the
Companies as attendants without power to vote. Subject to the provision contained in
sub-Clause 13.1, the Pledgee’s right to attend a shareholders’ meeting shall lapse immediately
upon complete satisfaction and discharge of the Obligations;
	 
	9.7	 	to refrain from any acts or omissions, subject to the performance of its rights and duties
under the Existing Share Pledge Agreements, the purpose or effect of which is or would be the
dilution of the value of the Shares or the Shares ceasing to exist, unless permitted by the
Pledgee (acting reasonably);
	 
	9.8	 	not to amend the articles of association of any of the Companies to the extent that such
amendment would materially adversely affect the security interest of the Pledgee created
hereunder without the prior written consent of the Pledgee (such consent not to be
unreasonably withheld);
	 
	9.9	 	insofar as additional declarations or actions are necessary for the creation of the Pledges
(or any of them) in favour of the Pledgee and at the Pledgee’s reasonable request, to make
such declarations and undertake such actions at its own costs and expenses; and
	 
	9.10	 	for the avoidance of doubt, notification and consent requirements as set out in sub-Clauses
9.1 through 9.8 of this Agreement are deemed to be satisfied if and to the extent such
notification or consent has been delivered under the Existing Share Pledge

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	 	 	Agreements provided that such notification to the Pledgee or consent of the Pledgee makes
reference to this Agreement and each Existing Share Pledge Agreement.

	10.	 	DELEGATION
	 
	 	 	The Pledgee shall have full power to delegate (either generally or specifically) the powers,
authorities and discretions conferred on it by this Agreement on such terms and conditions
as it shall see fit. The Pledgee shall only remain liable for diligently selecting and
providing initial instructions to such delegate.
	 
	11.	 	INDEMNITY
	 
	 	 	The Pledgor shall reimburse the Pledgee (which, for purposes of this Clause 11, shall
include its officers, directors, employees, agents and counsel) upon request for all
properly incurred, reasonable and documented out-of-pocket expenses incurred or made by it
in connection with the Credit Documents. Such expenses shall include the properly incurred,
reasonable and documented compensation and expenses, disbursements and advances of the
Pledgee’s agents, counsel, accountants and experts. The Pledgor shall indemnify the Pledgee
against any and all loss, liability, claim, taxes, costs, damage or expense (including
properly incurred, reasonable and documented attorneys’ fees and expenses) incurred by or in
connection with the acceptance or administration of the Pledgee’s performance of its duties
under this Agreement and under German law, including the costs and expenses of enforcing
this Agreement and defending itself against or investigating any claim. The obligation to
pay such amounts shall survive the payment in full or defeasance of the Obligations or the
removal or resignation of the Pledgee. The Pledgee shall notify Reynolds Group Holdings
Limited of any claim for which it may seek indemnity promptly upon obtaining actual
knowledge thereof; provided that any failure so to notify Reynolds Group Holdings Limited
shall not relieve the Pledgor of its indemnity obligations hereunder. The Pledgor may defend
itself against such claim and the Pledgee shall provide reasonable cooperation in such
defense. The Pledgee may have separate counsel and the Pledgor shall pay the properly
incurred, reasonable and documented fees and expenses of such counsel. The Pledgor need not
reimburse any expense or indemnify against any loss, liability or expense incurred by the
Pledgee through the Pledgee’s own wilful misconduct (Vorsatz) or gross negligence (grobe
Fahrlässigkeit). No provision of this Agreement shall require the Pledgee to expend or risk
its own funds or otherwise incur any financial liability in the performance of any of its
duties hereunder, or in the exercise of any of its rights or powers, if repayment of such
funds or adequate indemnity against such risk or liability is not assured to its
satisfaction.
	 
	12.	 	NO LIABILITY
	 
	 	 	Except as otherwise agreed between the parties to this Agreement, none of the Pledgee, its
nominee(s) or agent(s) or delegate(s) shall be liable by reason of (a)

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	 	 	taking any action permitted by this Agreement or (b) any neglect or default in connection
with the assets and rights subject to the security interest created hereunder, save in
respect of any loss or damage which is suffered as a result of wilful misconduct (Vorsatz)
or gross negligence (grobe Fahrlässigkeit) by the Pledgee, its nominee(s) or agent(s) or
delegate(s), or (c) the enforcement or realisation of all or any part of the security
interest created hereunder.
	 
	13.	 	DURATION AND INDEPENDENCE
	 
	13.1	 	This Agreement shall remain in full force and effect until complete satisfaction of the
Obligations. The Pledges shall not cease to exist, if any Grantor under the Credit Documents
has only temporarily discharged the Obligations.
	 
	13.2	 	This Agreement shall create a continuing security and no change, amendment, or supplement
whatsoever in the Credit Documents or in any document or agreement related to any of the
Credit Documents shall affect the validity or the scope of this Agreement nor the obligations
which are imposed on the Pledgor pursuant to it.
	 
	13.3	 	This Agreement is independent from any other security or guarantee which may have been or
will be given to the Collateral Agent. None of such other security shall prejudice, or shall
be prejudiced by, or shall be merged in any way with this Agreement.
	 
	13.4	 	Waiving Section 418 of the German Civil Code, the Pledgor hereby agrees that the security
created hereunder shall not be affected by any transfer or assumption of the Obligations to,
or by, any third party.
	 
	14.	 	RELEASE OF PLEDGE (PFANDFREIGABE)
	 
	14.1	 	Upon complete and irrevocable satisfaction of the Obligations, the Collateral Agent (as
instructed in accordance with the First Lien Intercreditor Agreement) will as soon as
reasonably practicable declare in writing the release of the Pledges (Pfandfreigabe) to the
Pledgor as a matter of record. For the avoidance of doubt, the parties are aware that upon
full and complete satisfaction of the Obligations the Pledges, due to their accessory nature
(Akzessorietät) cease to exist by operation of German mandatory law.
	 
	14.2	 	At any time when the total value of the aggregate security granted by the Pledgor and any of
the other Grantors to secure the Obligations (the “Security”), which can be expected to be
realised in the event of an enforcement of the Security (realisierbarer Wert), exceeds 110% of
the Obligations (the “Limit”) not only temporarily, the Pledgee shall on demand of the Pledgor
release such part of the Security (Sicherheitenfreigabe) as the Pledgee (as instructed in
accordance with the First Lien Intercreditor Agreement) may in its reasonable discretion
determine so as to reduce the realisable value of the Security to the Limit.

- 23 -

 

	14.3	 	The parties acknowledge that the Pledgee (as instructed in accordance with the First Lien
Intercreditor Agreement) will declare in writing the release of the Pledges (Pfandfreigabe) to
the Pledgor as soon as reasonably practicable in accordance with, and to the extent required
by, the Intercreditor Arrangements.
	 
	15.	 	PARTIAL INVALIDITY; WAIVER
	 
	15.1	 	If at any time, any one or more of the provisions hereof is or becomes invalid, illegal or
unenforceable in any respect under the law of any jurisdiction, such provision shall as to
such jurisdiction, be ineffective to the extent necessary without affecting or impairing the
validity, legality and enforceability of the remaining provisions hereof or of such provisions
in any other jurisdiction. The invalid, illegal or unenforceable provision shall be deemed to
be replaced with such valid, legal or enforceable provision which comes as close as possible
to the original intent of the parties and the invalid, illegal or unenforceable provision.
Should a gap (Regelungslücke) become evident in this Agreement, such gap shall, without
affecting or impairing the validity, legality and enforceability of the remaining provisions
hereof, be deemed to be filled in with such provision which comes as close as possible to the
original intent of the parties.
	 
	15.2	 	No failure to exercise, nor any delay in exercising, on the part of the Pledgee, any right or
remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise
of any right or remedy prevent any further or other exercise thereof or the exercise of any
other right or remedy. The rights and remedies provided hereunder are cumulative and not
exclusive of any rights or remedies provided by law.
	 
	15.3	 	In particular, the Pledges shall not be affected and shall in
any event extend to any and all shares in each of the Companies even if the number or nominal value of the Existing Shares or
the aggregate share capital of any of the Companies as stated in Clause 2 are inaccurate or
deviate from the actual facts.
	 
	16.	 	AMENDMENTS
	 
	 	 	Changes and amendments to this Agreement including this Clause 16 shall be made in writing
except where notarisation is required.
	 
	17.	 	NOTICES AND THEIR LANGUAGE
	 
	17.1	 	All notices and other communications provided for herein shall be in writing and shall be
delivered by hand or overnight courier service, mailed by certified or registered mail or sent
by fax, as follows:

- 24 -

 

	 	 	 	 	 

	For the Pledgor:	 	SIG Euro Holding AG & Co. KG aA
	 
	 	 	 	 
	 

	 	Address:
	 	Rurstraße 58, 52441
	 

	 	 	 	Linnich, Germany
	 
	 	 	 	 
	 

	 	Telephone:
	 	+49 [•]
	 
	 	 	 	 
	 

	 	Fax:
	 	+49 [•]1
	 
	 	 	 	 
	 

	 	Attention:
	 	Managing Directors
	 

	 	 	 	(Geschäftsführung)
	 
	 	 	 	 
	for the Pledgor with a copy to:
	 	 	 	 
	 
	 	 	 	 
	 

	 	Address:
	 	c/o Rank Group Limited
	 

	 	 	 	Level 9
	 

	 	 	 	148 Quay Street
	 

	 	 	 	PO Box 3515
	 

	 	 	 	Auckland 1140
	 

	 	 	 	New Zealand
	 
	 	 	 	 
	 

	 	Telephone:
	 	+649 3666 259
	 
	 	 	 	 
	 

	 	Fax:
	 	+649 3666 263
	 
	 	 	 	 
	 

	 	Attention:
	 	Helen Golding

 

			
	1	 	To be updated due to transfer of business seat

- 25 -

 

	 	 	 	 	 

	For the Pledgee:

	 	The Bank of New
York Mellon	 	 
	 

	 	Address:
	 	101 Barclay Street, 4E
	 

	 	 	 	New York, N.Y. 10286
	 

	 	 	 	The United States of
	 

	 	 	 	America
	 
	 	 	 	 
	 

	 	Telephone:
	 	+212 298 1528
	 
	 	 	 	 
	 

	 	Fax:
	 	+212 815 5366
	 
	 	 	 	 
	 

	 	Attention:
	 	International

Corporate Trust

	17.2	 	Any party hereto may change its address or fax number for notices and other communications
hereunder by notice to the other parties hereto. As agreed to in writing by the parties,
notices and other communications hereunder may also be delivered by e-mail to the e-mail
address of a representative of the applicable party to this Agreement provided from time to
time by such party.
	 
	17.3	 	All notices and other communications given to any party in connection with this Agreement in
accordance with the provisions of this Agreement shall be deemed (widerlegbare Vermutung)
received on the date sent (if a business day) and on the next business day thereafter (in all
other cases) if delivered by hand or overnight
courier service or sent by fax or on the date five business days after dispatch by certified
or registered mail if mailed, in each case delivered, sent or mailed (properly addressed) to
such party as provided in this Clause 17 or in accordance with the latest unrevoked
direction from such party given in accordance with this Clause 17.
	 
	17.4	 	Any notice or other communication under or in connection with this Agreement shall be in the
English language or, if in any other language, accompanied by a translation into English. In
the event of any conflict between the English text and the text in any other language, the
English text shall prevail.
	 
	18.	 	NOTIFICATION
	 
	18.1	 	The Pledgor and the Pledgee hereby give notice of this Agreement and the Pledges of the
rights pursuant to Clause 3 and Clause 4 to the Company.

- 26 -

 

	18.2	 	The Company hereby acknowledges the notification pursuant to Clause 18.1 above.
	 
	19.	 	APPLICABLE LAW, JURISDICTION
	 
	19.1	 	This Agreement is governed by the laws of the Federal Republic of Germany.
	 
	19.2	 	The place of jurisdiction for any and all disputes arising under or in connection with this
Agreement shall be the district court (Landgericht) in Frankfurt am Main. The Pledgee however,
shall also be entitled to take action against the Pledgor in any other court of competent
jurisdiction. Further, the taking of proceedings against the Pledgor in any one or more
jurisdictions shall not preclude the taking of proceedings in any other jurisdiction (whether
concurrently or not) if and to the extent permitted by applicable law.

The Notary advised the persons appearing:

	•	 	that a pledge is a security instrument of strictly accessory nature (which means that it
comes into legal existence only if, to the extent that, and as long as, the underlying secured
claims do in fact exist, and that the owners of the secured claims and the pledgees must be
identical);
	 
	•	 	that notwithstanding Section 16 para 3 German Limited Liability Companies Act (Gesetz
betreffend die Gesellschaften mit beschränkter Haftung) there is no bona fide creation,
acquisition nor ranking of a pledge of shares (in the sense that the pledgees are not
protected if the shares purported to be pledged do not exist or have been previously
encumbered for the benefit of a third party); and
	 
	•	 	that the English original version of this Agreement will not be acceptable for enforcement
but will have to be translated, by a certified translator, into German for such purposes.

The above Agreement including the Schedules was read aloud by the Notary to the persons appearing,
approved by them and signed by the persons appearing and by the Notary in their own hand as
follows:

- 27 -

 

SCHEDULE 1

LISTS OF CURRENT BORROWERS, CURRENT GUARANTORS,

CURRENT SENIOR SECURED NOTES GUARANTORS, CURRENT

OCTOBER 2010 SECURED NOTES GUARANTORS AND ORIGINAL

FEBRUARY 2011 SECURED NOTES GUARANTORS

PART 1

LIST OF CURRENT BORROWERS

SIG Euro Holding AG & Co. KGaA

Closure Systems International Holdings Inc.

Closure Systems International B.V.

SIG Austria Holding GmbH

Reynolds Consumer Products Holdings Inc.

Reynolds Group Holdings Inc.

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

PART 2

LIST OF CURRENT GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

- 28 -

 

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

CSI Closure Systems Manufacturing de Centro America, S.R.L.

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

Pactiv Hamburg Holdings GmbH

- 29 -

 

Pactiv Deutschland Holdinggesellschaft mbH

Omni-Pac Ekco GmbH Verpackungsmittel

Omni-Pac GmbH Verpackungsmittel

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

Beverage Packaging Holdings (Luxembourg) III S.à r.l.

Evergreen Packaging (Luxembourg) S.à r.l.

Reynolds Group Issuer (Luxembourg) S.A.

Bienes Industriales del Norte S.A. de C.V.

CSI en Ensenada, S. de R.L. de C.V.

CSI en Saltillo, S. de R.L. de C.V.

CSI Tecniservicio, S. de R.L. de C.V.

Grupo CSI de Mexico, S. de R.L. de C.V.

Técnicos de Tapas Innovativas S.A. de C.V.

Evergreen Packaging Mexico, S. de R.L. de C.V.

Reynolds Metals Company de Mexico, S. de R.L. de C.V.

Maxpack, S. de R.L. de C.V.

- 30 -

 

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Combibloc Ltd.

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

- 31 -

 

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Reynolds Group Issuer Inc.

Reynolds Group Issuer LLC

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

- 32 -

 

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

PART 3

LIST OF CURRENT SENIOR SECURED NOTES GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

- 33 -

 

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

CSI Closure Systems Manufacturing de Centro America, S.R.L.

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

- 34 -

 

Pactiv Hamburg Holdings GmbH

Pactiv Deutschland Holdinggesellschaft mbH

Omni-Pac Ekco GmbH Verpackungsmittel

Omni-Pac GmbH Verpackungsmittel

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

Beverage Packaging Holdings (Luxembourg) III S.à r.l.

Evergreen Packaging (Luxembourg) S.à r.l.

Bienes Industriales del Norte S.A. de C.V.

CSI en Ensenada, S. de R.L. de C.V.

CSI en Saltillo, S. de R.L. de C.V.

CSI Tecniservicio, S. de R.L. de C.V.

Grupo CSI de Mexico, S. de R.L. de C.V.

Técnicos de Tapas Innovativas S.A. de C.V.

Evergreen Packaging Mexico, S. de R.L. de C.V.

Reynolds Metals Company de Mexico, S. de R.L. de C.V.

Maxpack, S. de R.L. de C.V.

- 35 -

 

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Combibloc Ltd.

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

- 36 -

 

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

- 37 -

 

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

PART 4

LIST OF CURRENT OCTOBER 2010 SECURED NOTES GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co. KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

- 38 -

 

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

CSI Closure Systems Manufacturing de Centro America, S.R.L.

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

Pactiv Hamburg Holdings GmbH

- 39 -

 

Pactiv Deutschland Holdinggesellschaft mbH

Omni-Pac Ekco GmbH Verpackungsmittel

Omni-Pac GmbH Verpackungsmittel

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

Beverage Packaging Holdings (Luxembourg) III S.à r.l.

Evergreen Packaging (Luxembourg) S.à r.l.

Bienes Industriales del Norte S.A. de C.V.

CSI en Ensenada, S. de R.L. de C.V.

CSI en Saltillo, S. de R.L. de C.V.

CSI Tecniservicio, S. de R.L. de C.V.

Grupo CSI de Mexico, S. de R.L. de C.V.

Técnicos de Tapas Innovativas S.A. de C.V.

Evergreen Packaging Mexico, S. de R.L. de C.V.

Reynolds Metals Company de Mexico, S. de R.L. de C.V.

Maxpack, S. de R.L. de C.V.

Closure Systems International B.V.

- 40 -

 

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

- 41 -

 

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

- 42 -

 

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

PART 5

LIST OF ORIGINAL FEBRUARY 2011 SECURED NOTES GUARANTORS

Whakatane Mill Australia Pty Limited

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

CSI Closure Systems Manufacturing de Centro America, S.R.L.

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

- 43 -

 

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

Beverage Packaging Holdings (Luxembourg) III S.à r.l.

Evergreen Packaging (Luxembourg) S.à r.l.

Bienes Industriales del Norte S.A. de C.V.

CSI en Ensenada, S. de R.L. de C.V.

CSI en Saltillo, S. de R.L. de C.V.

CSI Tecniservicio, S. de R.L. de C.V.

Grupo CSI de Mexico, S. de R.L. de C.V.

Técnicos de Tapas Innovativas S.A. de C.V.

Evergreen Packaging Mexico, S. de R.L. de C.V.

Reynolds Metals Company de Mexico, S. de R.L. de C.V.

Maxpack, S. de R.L. de C.V.

- 44 -

 

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

- 45 -

 

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

- 46 -

 

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

- 47 -

 

SCHEDULE 2

COPY OF SHAREHOLDERS LISTS (GESELLSCHAFTERLISTEN)

- 48 -exv4w414

EXHIBIT 4.414

SIG EURO HOLDING AG & CO. KGAA, SIG COMBIBLOC
SYSTEMS GMBH, SIG COMBIBLOC HOLDING GMBH, SIG COMBIBLOC
GMBH, SIG BEVERAGES GERMANY GMBH, SIG COMBIBLOC
ZERSPANUNGSTECHNIK GMBH, SIG INTERNATIONAL SERVICES GMBH,
SIG INFORMATION TECHNOLOGY GMBH, SIG VIETNAM BETEILIGUNGS
GMBH, CLOSURE SYSTEMS INTERNATIONAL HOLDINGS (GERMANY)
GMBH, CLOSURE SYSTEMS INTERNATIONAL DEUTSCHLAND GMBH

and

SIG TECHNOLOGY AG

as Security Grantors

and

THE BANK OF NEW YORK MELLON

as Collateral Agent

 

CONFIRMATION AND AMENDMENT AGREEMENT

(Bestätigungs-
und Änderungsvertrag)

relating to certain security agreements
entered in connection with a
multi-currency term and revolving credit
agreement dated 5 November 2009, a senior
secured notes indenture in respect of
senior secured notes due 2016 in the
aggregate principal amount of USD
1,125,000,000 dated 5 November 2009, a
senior secured notes indenture in respect
of secured notes due 2019 in the aggregate
principal amount of USD 1,500,000,000
dated 15 October 2010 and a senior secured
notes indenture in respect of senior
secured notes due 2021 in the aggregate
principal amount of USD 1,000,000,000
dated 1 February 2011

 

this document) in Austria or sending any e-mail communication
to which a pdf scan of this document is attached to an Austrian addressee or sending any e-mail
communication carrying an electronic or digital signature which refers to any Credit Document to an
Austrian addressee may cause the imposition of Austrian stamp duty. Accordingly, keep the original
document as well as all certified copies thereof and written and signed references to it outside of
Austria and avoid printing out any email communication which refers to any Credit Document in
Austria or sending any e-mail communication to which a pdf scan of this document is attached to an
Austrian addressee or sending any e-mail communication carrying an electronic or digital signature
which refers to any Credit Document to an Austrian addressee.

 

 

Contents

	 	 	 	 	 
	Clause	 	Page	 
	1. Definitions and Language
	 	 	4	 
	2. Confirmation and Amendments
	 	 	7	 
	3. Continuity and further Assurance
	 	 	12	 
	4. Partial Invalidity
	 	 	13	 
	5. Amendments
	 	 	13	 
	6. Applicable law; Jurisdiction
	 	 	13	 
	7. Conclusion of the Agreement (Vertragsschluss)
	 	 	14	 
	Schedule 1 List of Current Borrowers,
Current Guarantors, Current Senior Secured
Notes Guarantors, Current October 2010
Secured Notes Guarantors and Original New
Secured Notes Guarantors
	 	 	15	 
	Part 1 The Current Borrowers
	 	 	15	 
	Part 2 The Current Guarantors
	 	 	15	 
	Part 3 The Current Senior Secured Notes Guarantors
	 	 	20	 
	Part 4 List of Current October 2010 Secured Notes Guarantors
	 	 	25	 
	Part 5 List of Original New Secured Notes Guarantors
	 	 	29	 
	Schedule 2 Consolidated Conformed Copy
	 	 	34	 

 

 

This CONFIRMATION AND AMENDMENT AGREEMENT (the “Agreement”) is made on 2 March 2011

BETWEEN:

	(1)	 	SIG EURO HOLDING AG & CO. KGAA, registered in the commercial register (Handelsregister)
of the local court (Amtsgericht) of Düren under HRB 5754;
	 
	(2)	 	SIG COMBIBLOC SYSTEMS GMBH, registered in the commercial register (Handelsregister) of
the local court (Amtsgericht) of Düren under HRB 3935;
	 
	(3)	 	SIG COMBIBLOC HOLDING GMBH, registered in the commercial register (Handelsregister) of
the local court (Amtsgericht) of Düren under HRB 5751;
	 
	(4)	 	SIG COMBIBLOC GMBH, registered in the commercial register (Handelsregister) of the local
court (Amtsgericht) of Düren under HRB 5182;
	 
	(5)	 	SIG BEVERAGES GERMANY GMBH, registered in the commercial register (Handelsregister) of
the local court (Amtsgericht) of Freiburg i. Br. under HRB 702482;
	 
	(6)	 	SIG COMBIBLOC ZERSPANUNGSTECHNIK GMBH, registered in the commercial register
(Handelsregister) of the local court (Amtsgericht) of Aachen under HRB 3814;
	 
	(7)	 	SIG INTERNATIONAL SERVICES GMBH, registered in the commercial register (Handelsregister)
of the local court (Amtsgericht) of Düren under HRB 3925;
	 
	(8)	 	SIG INFORMATION TECHNOLOGY GMBH, registered in the commercial register (Handelsregister)
of the local court (Amtsgericht) of Düren under HRB 4050;
	 
	(9)	 	SIG VIETNAM BETEILIGUNGS GMBH, registered in the commercial register (Handelsregister) of
the local court (Amtsgericht) of Freiburg i.Br. under HRB 621587;
	 
	(10)	 	CLOSURE SYSTEMS INTERNATIONAL HOLDINGS (GERMANY) GMBH, registered in the commercial
register (Handelsregister) of the local court (Amtsgericht) of Mainz under HRB 41388;
	 
	(11)	 	CLOSURE SYSTEMS INTERNATIONAL DEUTSCHLAND GMBH, registered in the commercial register
(Handelsregister) of the local court (Amtsgericht) of Mainz under HRB 10054;
	 
	(12)	 	SIG TECHNOLOGY AG, registered in the Commercial Register of the Canton of Schaffhausen
with the federal register number CH-160.3.002.649-1; and

- 1 -

 

	(13)	 	THE BANK OF NEW YORK MELLON, having its business address at 1 Wall Street, New York, N.Y.
10286, The United States of America in its capacity as collateral agent for the Secured
Parties (as defined below) under the First Lien Intercreditor Agreement (as defined below)
(the “Collateral Agent”).

(the companies named in (1) to (12) are hereinafter referred to as the “Security Grantors” and each
of them a “Security Grantor”)

WHEREAS:

	(A)	 	Pursuant to a multi-currency term and revolving credit agreement dated 5 November 2009
(as amended and/or restated by the Amendment No.1, by the Amendment No. 2 and Incremental Term
Loan Assumption Agreement and by the Amendment No. 3 and Incremental Term Loan Assumption
Agreement) between, inter alia, the parties listed in Part 1 of Schedule 1 hereto as current
borrowers (the “Current Borrowers”), the parties listed in Part 2 of Schedule 1 hereto as
current guarantors (the “Current Guarantors”), Credit Suisse AG, Cayman Islands Branch
(formerly Credit Suisse, Cayman Islands Branch) as administrative agent and others (the
“Original Credit Agreement”), certain lenders (together the “Original Lenders”) have granted
certain facilities to the Current Borrowers and certain other entities which may accede to the
Original Credit Agreement as additional borrowers.
	 
	(B)	 	Pursuant to a senior secured notes indenture dated 5 November 2009 between, inter alia,
Reynolds Group Issuer LLC, Reynolds Group Issuer Inc., and Reynolds Group Issuer (Luxembourg)
S.A as issuers (the “Issuers”), certain affiliates of the Issuers listed in Part 3 of Schedule
1 as current senior secured notes guarantors (the “Current Senior Secured Notes Guarantors”)
and The Bank of New York Mellon, as indenture trustee, principal paying agent, transfer agent,
collateral agent and registrar, (as amended, varied, novated, supplemented, superseded or
extended from time to time, the “Senior Secured Notes Indenture”), the Issuers have issued
senior secured notes due 2016 in the aggregate principal amount of USD 1,125,000,000 (the “US
Secured Notes”) and senior secured notes due 2016 in the aggregate principal amount of EUR
450,000,000 (the “Euro Secured Notes” and together with the US Secured Notes the “Senior
Secured Notes”) to certain noteholders.
	 
	(C)	 	Pursuant to a senior secured notes indenture dated 15 October 2010 between, inter alia,
RGHL Issuer I LLC, RGHL Issuer I Inc., and RGHL Issuer (Luxembourg) I S.A. as escrow issuers
(the “Escrow Issuers”), The Bank of New York Mellon as indenture trustee, The Bank of New York
Mellon, London Branch as principal paying agent, The Bank of New

- 2 -

 

	 	 	York Mellon as collateral agent and Wilmington Trust (London) Limited as collateral agent
(as amended, varied, novated, supplemented, superseded or extended from time to time, the
“October 2010 Secured Notes Indenture”), the Escrow Issuers have issued secured notes due
2019 in the aggregate principal amount of USD 1,500,000,000 in escrow (the “October 2010
Secured Notes”). In connection with the release from escrow of the proceeds of the October
2010 Secured Notes, which occurred on 16 November 2010, the Escrow Issuers were merged with
and into the Issuers, with each of the Issuers surviving the applicable mergers or other
transfers and assuming by operation of law the obligations of the applicable Escrow Issuers
with respect to the October 2010 Secured Notes Indenture and the October 2010 Secured Notes.
Certain affiliates of the Issuers listed in Part 4 of Schedule 1 have acceded to the October
2010 Secured Notes Indenture as guarantors (the “Current October 2010 Secured Notes
Guarantors”.

	(D)	 	Pursuant to a senior secured notes indenture dated 1 February 2011 between, inter alia,
the Issuers, The Bank of New York Mellon as indenture trustee, The Bank of New York Mellon,
London Branch as principal paying agent, The Bank of New York Mellon as Collateral Agent and
Wilmington Trust (London) Limited as collateral agent (as amended, varied, novated,
supplemented, superseded or extended from time to time, the “New Secured Notes Indenture”),
the Issuers have issued secured notes due 2021 in the aggregate principal amount of USD
1,000,000,000 (the “New Secured Notes”) which are guaranteed by certain affiliates of the
Issuers listed in Part 5 of Schedule 1 as original new secured notes guarantors (the “Original
New Secured Notes Guarantors”).
	 
	(E)	 	Pursuant to the Original Credit Agreement, the Senior Secured Notes Indenture, the
October 2010 Secured Notes Indenture and the New Secured Notes Indenture the Security Grantors
have entered into the Security Agreements (as defined below).
	 
	(F)	 	Pursuant to an amendment No. 4 and incremental term loan assumption agreement dated 9
February 2011 relating to the Original Credit Agreement between, inter alia, the Current
Borrowers, the Current Guarantors, Credit Suisse AG, Cayman Islands Branch (formerly Credit
Suisse, Cayman Islands Branch) as administrative agent and others (the “Amendment No. 4 and
Incremental Term Loan Assumption Agreement”) the Original Credit Agreement has been amended
and restated (the “Amended Credit Agreement”) to, inter alia, include new incremental term
facilities (the “Amendments”).
	 
	(G)	 	It has been agreed in the Security Agreements (as defined below) that any reference in
such Security Agreement (as defined below) to the “Credit Agreement” is a reference to the
Original Credit Agreement as amended, varied, novated, restated, supplemented, superseded or
extended from time to time, including pursuant to the Amendment No. 4 and Incremental Term
Loan Assumption Agreement, and that any reference to the Senior Secured Notes

- 3 -

 

	 	 	Documents is a reference to the Senior Secured Notes Documents as amended, varied, novated,
restated, supplemented, superseded or extended from time to time, including the New Secured
Notes Indenture. Each Security Grantor has agreed to enter into this Agreement and to
confirm as a matter of utmost precaution (höchst vorsorglich) the security created pursuant
to the Security Agreements (as defined below) in order to ensure that the Security
Agreements continue to secure the Obligations (as defined in the Security Agreements) and
extend to all Obligations (as defined in the Amended Security Agreements) of the Grantors
(as defined in the Amended Security Agreements) under or in connection with the Amendment
No. 4 and Incremental Term Loan Assumption Agreement and the Amended Credit Agreement.

	(H)	 	Attached as Schedule 2 is the consolidated conformed copy of the global assignment
agreement dated 5 November 2009 (as amended by the confirmation and amendment agreements dated
4 May 2010, 16 November 2010 and 2 March 2011) and entered into between SIG Vietnam
Beteiligungs GmbH as assignor and The Bank of New York Mellon as Collateral Agent. Schedule 2
is attached for clarification purposes and shall be considered as specimen for the other
Amended Security Agreements (as defined below) except for the Swiss IP Assignment Agreement
(as defined below). For the avoidance of doubt, the Swiss IP Assignment Agreement shall
exclusively be amended by the terms of this Confirmation and Amendment Agreement without
giving effect to Schedule 2, attached hereto.

NOW IT IS HEREBY AGREED as follows:

	1.	 	DEFINITIONS AND LANGUAGE
	 
	1.1	 	Definitions

	 	 	In this Agreement:

	 	 	“Amended Security Agreements” means the Security Agreements as amended by this Agreement.

	 	 	“Global Assignment Agreements” means the following global assignment agreements:

	 	(a)	 	global assignment agreement dated 5 November 2009 and entered into between
SIG Euro Holding AG & Co. KGaA as assignor and The Bank of New York Mellon as
Collateral Agent

	 	(b)	 	global assignment agreement dated 5 November 2009 and entered into between
SIG Combibloc Holding GmbH as assignor and The Bank of New York Mellon as Collateral
Agent;

- 4 -

 

	 	(c)	 	the global assignment agreement dated 5 November 2009 and entered into
between SIG Combibloc Systems GmbH as assignor and The Bank of New York Mellon as
Collateral Agent;

	 	(d)	 	the global assignment agreement dated 5 November 2009 and entered into
between SIG Beverages Germany GmbH as assignor and The Bank of New York Mellon as
Collateral Agent;

	 	(e)	 	the global assignment agreement dated 5 November 2009 and entered into
between SIG Combibloc GmbH as assignor and The Bank of New York Mellon as Collateral
Agent;

	 	(f)	 	the global assignment agreement dated 5 November 2009 and entered into
between SIG Combibloc Zerspanungstechnik GmbH as assignor and The Bank of New York
Mellon as Collateral Agent;

	 	(g)	 	the global assignment agreement dated 5 November 2009 and entered into
between SIG Vietnam Beteiligungs GmbH as assignor and The Bank of New York Mellon as
Collateral Agent;

	 	(h)	 	the global assignment agreement dated 5 November 2009 and entered into
between SIG International Services GmbH as assignor and The Bank of New York Mellon as
Collateral Agent;

	 	(i)	 	the global assignment agreement dated 5 November 2009 and entered into
between SIG Information Technology GmbH as assignor and The Bank of New York Mellon as
Collateral Agent;

	 	(j)	 	the global assignment agreement dated 5 November 2009 and entered into
between Closure Systems International Holdings (Germany) GmbH as assignor and The Bank
of New York Mellon as Collateral Agent;

	 	(k)	 	the global assignment agreement dated 5 November 2009 and entered into
between Closure Systems International Deutschland GmbH as assignor and the Collateral
Agent;

	 	(l)	 	the global assignment agreement dated 5 November 2009 and entered into
between Closure Systems International Deutschland Real Estate GmbH & Co. KG (now
collapsed into Closure Systems International Deutschland GmbH) as assignor and The Bank
of New York Mellon as Collateral Agent;

- 5 -

 

	 	 	(each as confirmed and amended pursuant to amendment and confirmation agreements dated 4 May
2010 and 16 November 2010) and “Global Assignment Agreement” means any of them.

	 	 	“IP Assignment Agreements” means the following IP assignment agreements:

	 	(a)	 	the IP assignment agreement dated 5 November 2009 and entered into between
SIG Combibloc Systems GmbH as assignor and The Bank of New York Mellon as Collateral
Agent;

	 	(b)	 	the IP assignment agreement dated 5 November 2009 and entered into between
SIG Combibloc GmbH as assignor and The Bank of New York Mellon as Collateral Agent;

	 	(c)	 	the IP assignment agreement under German law dated 2 December 2009 and
entered into between SIG Technology AG as assignor and The Bank of New York Mellon as
Collateral Agent (the “Swiss IP Assignment Agreement”);

	 	 	(each as confirmed and amended pursuant to amendment and confirmation agreements dated 4 May
2010 and 16 November 2010) and “IP Assignment Agreement” means any of them.

	 	 	“Security Agreements” means the Global Assignment Agreements, the Security Transfer
Agreements, the IP Assignment Agreements and the Security Purpose Agreement and each an
“Security Agreement”.

	 	 	“Security Transfer Agreements” means the following security transfer agreements:

	 	(d)	 	security transfer agreement dated 5 November 2009 and entered into between
SIG Combibloc Systems GmbH as transferor and The Bank of New York Mellon as Collateral
Agent;

	 	(e)	 	the security transfer agreement dated 5 November 2009 and entered into
between SIG Combibloc GmbH as transferor and The Bank of New York Mellon as Collateral
Agent;

	 	(f)	 	the security transfer agreement dated 5 November 2009 and entered into
between SIG Combibloc Zerspanungstechnik GmbH as transferor and The Bank of New York
Mellon as Collateral Agent;

	 	(g)	 	the security transfer agreement dated 5 November 2009 and entered into
between Closure Systems International Deutschland GmbH as transferor and The Bank of
New York Mellon as Collateral Agent;

- 6 -

 

	 	 	(each as confirmed and amended pursuant to amendment and confirmation agreements dated 4 May
2010 and 16 November 2010) and “Security Transfer Agreement” means any of them.

	 	 	“Security Purpose Agreement” means the security purpose agreement dated 5 November 2009 (as
confirmed and amended pursuant to amendment and confirmation agreements dated 4 May 2010 and
16 November 2010) and entered into between SIG Combibloc GmbH and Closure Systems
International Deutschland Real Estate GmbH & Co. KG (now collapsed into Closure Systems
International Deutschland GmbH) as chargors and the The Bank of New York Mellon as
Collateral Agent relating to certain land charges.

	 	 	“Swiss Grantor Security Agreement” means the Swiss IP Assignment Agreement.

	1.2	 	Construction
	 
	1.2.1	 	Any reference in this Agreement to a “Clause”, a “sub-Clause” or a “Schedule” shall,
subject to any contrary indication, be construed as a reference to a Clause, a sub-Clause or a
Schedule in this Agreement.
	 
	1.2.2	 	To the extent the word “note” or “Note” is used in any other documents in relation to
this Agreement, it shall be construed as if it were a reference to the word “notes” or “Notes”
as defined and used in this Agreement.
	 
	1.3	 	This Agreement is made in the English language. For the avoidance of doubt, the English
language version of this Agreement shall prevail over any translation of this Agreement.
However, where a German translation of a word or phrase appears in the text of this Agreement,
the German translation of such word or phrase shall prevail.
	 
	1.4	 	This Agreement amends the Security Agreements on the terms set forth herein, and, for the
purposes of interpretation, is hereby incorporated into the Security Agreement as of the date
hereof and shall form a part thereof.
	 
	1.5	 	In this Agreement capitalised terms not otherwise defined herein shall have the meaning
attributed thereto (including in the recitals) in the Security Agreement.
	 
	2.	 	CONFIRMATION AND AMENDMENTS
	 
	2.1	 	The Collateral Agent and each Security Grantor hereby agree that

	 	(a)	 	the current wording of recital (A) of each Security Agreement entered into
between the Collateral Agent and that Security Grantor shall be deleted and replaced by
the following wording:

- 7 -

 

	 	“(A)	 	Pursuant to a multi-currency term and revolving credit agreement dated 5
November 2009 (as amended and/or restated by the Amendment No. 1 (as defined below), by
the Amendment No. 2 and Incremental Term Loan Assumption Agreement (as defined below)
and by the Amendment No. 3 and Incremental Term Loan Assumption Agreement (as defined
below)) between, inter alia, the parties listed in Part 1 of Schedule 1 hereto as
original borrowers (the “Original Borrowers”), the parties listed in Part 2 of
Schedule 1 hereto as original guarantors (the “Original Guarantors”), Credit Suisse
AG, Cayman Islands Branch (formerly Credit Suisse, Cayman Islands Branch) as
administrative agent and others (as further amended, varied, novated, supplemented,
superseded or extended from time to time, the “Credit Agreement”), certain lenders
(together the “Original Lenders”) have granted certain facilities to the Original
Borrowers and certain other entities which may accede or may have acceded to the Credit
Agreement as additional borrowers.”

	 	(b)	 	The current wording of recital (D) of each Security Agreement entered into
between the Collateral Agent and that Security Grantor shall be deleted and replaced by
the following wording:

	 	“(D)	 	Pursuant to a senior secured notes indenture dated 15 October 2010 between,
inter alia, RGHL Issuer I LLC, RGHL Issuer I Inc., and RGHL Issuer (Luxembourg) I S.A.
as escrow issuers (the “Escrow Issuers”), The Bank of New York Mellon as indenture
trustee, The Bank of New York Mellon, London Branch as principal paying agent, The Bank
of New York Mellon as collateral agent and Wilmington Trust (London) Limited as
collateral agent (as amended, varied, novated, supplemented, superseded or extended
from time to time, the “October 2010 Secured Notes Indenture”), the Escrow Issuers have
issued secured notes due 2019 in the aggregate principal amount of USD 1,500,000,000 in
escrow (the “October 2010 Secured Notes”). In connection with the release from escrow
of the proceeds of the October 2010 Secured Notes, which occurred on 16 November 2010,
the Escrow Issuers were merged with and into the Issuers, with each of the Issuers
surviving the applicable mergers or other transfers and assuming by operation of law
the obligations of the applicable Escrow Issuers with respect to the October 2010
Secured Notes Indenture and the October 2010 Secured Notes. Certain affiliates of the
Issuers listed in Part 4 of Schedule 1 have acceded to the October 2010 Secured Notes
Indenture as guarantors (the “Current October 2010 Secured Notes Guarantors”).”

	 	(c)	 	The current wording of recital (E) of each Security Agreement entered into
between the Collateral Agent and that Security Grantor shall be deleted and replaced by
the following wording:

- 8 -

 

	 	“(E)	 	Pursuant to a senior secured notes indenture dated 1 February 2011 between,
inter alia, the Issuers, The Bank of New York Mellon as indenture trustee, The Bank of
New York Mellon, London Branch as principal paying agent, The Bank of New York Mellon
as collateral agent and Wilmington Trust (London) Limited as collateral agent (as
amended, varied, novated, supplemented, superseded or extended from time to time, the
“New Secured Notes Indenture”), the Issuers have issued secured notes due 2021 in the
aggregate principal amount of USD 1,000,000,000 (the “New Secured Notes”) which are
guaranteed by certain affiliates of the Issuers listed in Part 5 of Schedule 1 as
original new secured notes guarantors (the “Original New Secured Notes Guarantors”).

	 	(d)	 	The following wording shall be inserted as recital (F) of each Security
Agreement entered into between the Collateral Agent and that Security Grantor:

	 	 	 	“(F) Pursuant to an amendment No. 4 and incremental term loan assumption agreement
dated 9 February 2011 relating to the Original Credit Agreement between, inter alia,
the Current Borrowers, the Current Guarantors, Credit Suisse AG, Cayman Islands
Branch (formerly Credit Suisse, Cayman Islands Branch) as administrative agent and
others (the “Amendment No. 4 and Incremental Term Loan Assumption Agreement”) the
Original Credit Agreement has been amended and restated (the “Amended Credit
Agreement”) to, inter alia, include new incremental term facilities (the
“Amendments”).

	 	(e)	 	The following wording shall be inserted as recital (G) of each Security
Agreement entered into between the Collateral Agent and that Security Grantor:

	 	 	 	“(G) The security created by or pursuant to this Agreement is to be held and
administered by the Collateral Agent for the Secured Parties (as defined below)
pursuant to a first lien intercreditor agreement dated 5 November 2009 (as amended by
the Amendment No. 1 and Joinder Agreement (as defined below)) between, inter alia,
the Collateral Agent, the Indenture Trustee, the Administrative Agent and the
Grantors (each as defined below) and others (as amended, varied, novated,
supplemented, superseded or extended from time to time, the “First Lien Intercreditor
Agreement”).”

	 	(f)	 	Clause 1.1 of each Security Agreement entered into between the Collateral
Agent and that Security Grantor shall be amended by:

	 	(i)	 	inserting the following new definitions at the appropriate
place within the alphabetical order with the following wording:

- 9 -

 

	 	 	 	““Amendment No. 1” means the amendment agreement dated 21 January 2010
relating to the Credit Agreement between, inter alia, the borrowers and the
guarantors under the Credit Agreement as of such date, the Administrative
Agent and others.”

	 	 	 	““Amendment No.1 and Joinder Agreement” means the joinder agreement dated 21
January 2010 relating to the First Lien Intercreditor Agreement made among
(amongst others) the Collateral Agent, Wilmington Trust (London) Limited,
Credit Suisse AG and Reynolds Group Holdings Limited pursuant to which
Wilmington Trust (London) Limited is appointed as additional collateral agent
and became party to the First Lien Intercreditor Agreement.”

	 	 	 	““Amendment No. 2 and Incremental Term Loan Assumption Agreement” means the
amendment and incremental term loan assumption agreement dated 4 May 2010
relating to the Credit Agreement between, inter alia, the borrowers and the
guarantors under the Credit Agreement as of such date, the Administrative
Agent and others.”

	 	 	 	““Amendment No. 3 and Incremental Term Loan Assumption Agreement” means the
amendment and incremental term loan assumption agreement dated 30 September
2010 relating to the Credit Agreement between, inter alia, the borrowers and
the guarantors under the Credit Agreement as of such date, the Administrative
Agent and others.”

	 	 	 	““October 2010 Secured Note Documents” shall mean the October 2010 Secured
Notes Indenture, the October 2010 Secured Note Guarantees, the October 2010
Secured Notes, the Intercreditor Arrangements, any security document relating
to the October 2010 Secured Notes and/or the October 2010 Secured Notes
Indenture and any other document that may be entered into pursuant to any of
the foregoing.”

	 	 	 	““October 2010 Secured Note Guarantees” shall mean the guarantees of the
obligations of the Issuers under the October 2010 Secured Notes and the
October 2010 Secured Notes Indenture by the October 2010 Secured Notes
Guarantors.”

	 	 	 	““October 2010 Secured Note Guarantors” means the Current October 2010
Secured Notes Guarantors and any entity which may accede to the October 2010
Secured Notes Indenture as additional guarantor.”

- 10 -

 

	 	 	 	““October 2010 Secured Note Holders” shall mean the holders from time to time
of the October 2010 Secured Notes.”

	 	 	 	““October 2010 Secured Notes Indenture Trustee” shall mean The Bank of New
York Mellon, in its capacity as indenture trustee under the October 2010
Secured Notes Indenture and any successor appointed as indenture trustee
under the October 2010 Secured Notes Indenture.”

	 	(ii)	 	adding the words “the October 2010 Secured Notes Documents”
after the words “Senior Secured Notes Documents,” in the definition of “Credit
Documents”.

	 	(iii)	 	adding the words “and/or the October 2010 Secured Notes
Indenture” after the words “Senior Secured Notes Indenture” in the definition of
“Event of Default”.

	 	(iv)	 	adding the words “and the October 2010 Secured Notes
Guarantors” after the words “Senior Secured Notes Guarantors,” in the definition
of “Grantors”.

	 	(v)	 	replacing the number “2,770,000,000” with the number
“750,000,000” in the definition of “Incremental Assumption Agreement”.

	 	(vi)	 	adding the words “the October 2010 Secured Notes Indenture,”
after the words “Senior Secured Notes Indenture,” in the definition of
“Principal Finance Documents”.

	 	(vii)	 	adding the words “the October 2010 Secured Notes Holders,”
after the words “Senior Secured Notes Holders,” and the words “the October 2010
Secured Notes Indenture Trustee,” after the words “Indenture Trustee,” in the
definition of “Secured Parties”.

	 	(viii)	 	adding the words “the Amendment No. 4 and Incremental Term Loan Assumption
Agreement”, after the words “Amendment No. 3 and Incremental Term Loan
Assumption Agreement” in the definition of “Loan Documents”.

	 	(g)	 	The heading of the list set out in Part 4 of Schedule 1 of each Security
Agreement shall be replaced by the words “List of Current October 2010 Secured Notes
Guarantors”.

- 11 -

 

	 	(h)	 	The list set out in Part 5 of Schedule 1 of this Agreement shall be
inserted as Part 5 of Schedule 1 “List of Original New Secured Notes Guarantors” in
each Security Agreement entered into between the Collateral Agent and that Security
Grantor.

	2.2	 	The Collateral Agent and each Security Grantor hereby agree that any reference in the
Security Agreement to which they are a party to the term “Obligations” shall be read and
construed as reference to the Obligations as amended by this Agreement.
	 
	2.3	 	The Collateral Agent and each Security Grantor hereby agree that the Security Agreements
to which they are a party shall continue to secure the Obligations as amended by this
Agreement.
	 
	2.4	 	The Collateral Agent and each Security Grantor hereby confirm, in respect of the Security
Agreements to which they are a party, that any reference in each of the agreements to the term
“Credit Agreement” shall be read and construed as a reference to the Original Credit Agreement
as amended, varied, novated, supplemented, restated, superseded or extended from time to time,
including pursuant to the Amendment No. 4 and Incremental Assumption Agreement.
	 
	2.5	 	The Collateral Agent and each Security Grantor confirm that the obligations secured under
the Security Agreements to which they are a party shall include the prompt and complete
satisfaction of any and all Obligations (as defined in the Amended Security Agreement)
(present and future, actual and contingent) which are (or are expressed to be) or become owing
by the Grantors (or any of them) to the Secured Parties (or any of them) under or in
connection with the Amended Credit Agreement, and the other Credit Documents (as such term is
defined in the Amended Security Agreement in accordance with Clause 2.1 above) (including, but
not limited to the Amendments).
	 
	3.	 	CONTINUITY AND FURTHER ASSURANCE
	 
	3.1	 	The Collateral Agent and the Security Grantors confirm and agree that (i) save as amended
by this Agreement, all provisions of the Security Agreements shall remain unchanged, (ii) the
validity and effectiveness of the provisions of the Security Agreements shall remain
unaffected by this Agreement, to the extent not amended by this Agreement (iii) the validity
and effectiveness of the security interests created under the Security Agreements shall not be
affected by this Agreement; and (iv) such security interests shall continue to secure the
Obligations (as defined in the Amended Security Agreements). For the avoidance of doubt, the
provisions in the Swiss Grantor Security Agreement relating to the limitations on enforcement
of the security granted thereunder and the application of proceeds of an enforcement of such
security shall not be affected by the amendments pursuant to this Agreement.

- 12 -

 

	3.2	 	The Security Grantors shall, at the reasonable request of the Security Agent and at the
Security Grantors’ expense, do all such acts and things necessary or desirable to give effect
to the amendments effected or to be effected pursuant to this Agreement.
	 
	3.3	 	The Collateral Agent and each Security Grantor agree that this Agreement shall constitute
a “Security Document” for the purposes of the First Lien Intercreditor Agreement (and for no
other purpose) and that, all rights, duties, privileges, protections and benefits of the
Collateral Agent set forth in the Amended Security Agreements are hereby incorporated by
reference.
	 
	4.	 	PARTIAL INVALIDITY
	 
	 	 	If at any time, any one or more of the provisions hereof is or becomes invalid, illegal or
unenforceable in any respect under the law of any jurisdiction, such provision shall, as to
such jurisdiction, be ineffective to the extent necessary without affecting or impairing the
validity, legality and enforceability of the remaining provisions hereof or of such
provisions in any other jurisdiction. The invalid, illegal, or unenforceable provision shall
be deemed replaced with a valid, legal or enforceable provision which comes as close as
possible to the original intent of the parties and the invalid, illegal or unenforceable
provision. Should a gap (Regelungslücke) become evident in this Agreement, such gap shall,
without affecting or impairing the validity, legality and enforceability of the remaining
provisions hereof, be deemed to be filled with such provision as comes as close as possible
to the original intent of the parties.
	 
	5.	 	AMENDMENTS
	 
	 	 	Changes and amendments to this Agreement including this Clause 5 shall be made in writing.
	 
	6.	 	APPLICABLE LAW; JURISDICTION
	 
	6.1	 	This Agreement is governed by the laws of the Federal Republic of Germany.
	 
	6.2	 	The place of jurisdiction for any and all disputes arising under or in connection with
this Agreement shall be the courts in Frankfurt am Main. The Collateral Agent, however, shall
also be entitled to take action against the respective Security Grantor in any other court of
competent jurisdiction. Further, the taking of proceedings against any Security Grantor in any
one or more jurisdictions shall not preclude the taking of proceedings in any other
jurisdiction (whether concurrently or not) if and to the extent permitted by applicable law.

- 13 -

 

	7.	 	CONCLUSION OF THE AGREEMENT (VERTRAGSSCHLUSS)
	 
	7.1	 	The parties to this Agreement may choose to conclude this Agreement by an exchange of
signed signature page(s), transmitted by means of telecommunication (telekommunikative
Übermittlung) by fax or attached as an electronic photocopy (pdf, tif, etc.) to an e-mail.
	 
	7.2	 	If the parties to this Agreement choose to conclude this Agreement pursuant to sub-Clause
7.1 above, they will transmit the signed signature page(s) of this Agreement to the
attention of Isabel van Bremen or Julia Eggert
(Isabel.vanbremen@cliffordchance.com or
Julia.Eggert@cliffordchance.com, fax: +49 69 7199 4000) (each a “Recipient”). The Agreement
will be considered concluded once any of the Recipients has actually received the signed
signature page(s) (Zugang der Unterschriftsseite(n)) from all parties to this Agreement and at
the time of the receipt of the last outstanding signature page(s).
	 
	7.3	 	For the purposes of this Clause 7 only, the parties to this Agreement appoint each
Recipient individually as their attorney (Empfangsvertreter) and expressly allow (gestatten)
each Recipient to collect the signed signature page(s) from all and for all parties to this
Agreement. For the avoidance of doubt, the Recipients will have no further duties connected
with their position as Recipient. In particular, the Recipients may assume the conformity to
the authentic original(s) of the signature page(s) transmitted to it by means of
telecommunication, the genuineness of all signatures on the original signature page(s) and the
signing authority of the signatories.

- 14 -

 

SCHEDULE 1

LIST OF CURRENT BORROWERS, CURRENT GUARANTORS, CURRENT SENIOR SECURED NOTES GUARANTORS,
CURRENT OCTOBER 2010 SECURED NOTES GUARANTORS AND ORIGINAL NEW SECURED NOTES GUARANTORS

PART 1

THE CURRENT BORROWERS

     SIG Euro Holding AG & Co. KGaA

     Closure Systems International Holdings Inc.

     Closure Systems International B.V.

     SIG Austria Holding GmbH

     Reynolds Consumer Products Holdings Inc.

     Reynolds Group Holdings Inc.

     Pactiv Corporation (formerly Reynolds Acquisition Corporation)

PART 2

THE CURRENT GUARANTORS

     Whakatane Mill Australia Pty Limited

     SIG Austria Holding GmbH

     SIG Combibloc GmbH & Co KG

     SIG Combibloc GmbH

     SIG Beverages Brasil Ltda.

     SIG Combibloc do Brasil Ltda.

     Closure Systems International (Brazil) Sistemas de Vedação Ltda

     CSI Latin American Holdings Corporation

     Closure Systems International (Canada) Limited

- 15 -

 

     Evergreen Packaging Canada Limited

     Reynolds Food Packaging Canada Inc.

     CSI Closure Systems Manufacturing de Centro America, S.R.L.

     SIG Holdings (UK) Limited

     SIG Combibloc Limited

     Closure Systems International (UK) Limited

     Reynolds Consumer Products (UK) Limited

     Reynolds Subco (UK) Limited

     Kama Europe Limited

     Ivex Holdings, Ltd.

     SIG Euro Holding AG & Co. KGaA

     SIG Beverages Germany GmbH

     SIG Combibloc Holding GmbH

     SIG Vietnam Beteiligungs GmbH

     SIG Combibloc GmbH

     SIG Combibloc Systems GmbH

     SIG Combibloc Zerspanungstechnik GmbH

     SIG Information Technology GmbH

     SIG International Services GmbH

     Closure Systems International Holdings (Germany) GmbH

     Closure Systems International Deutschland GmbH

     Pactiv Hamburg Holdings GmbH

     Pactiv Deutschland Holdinggesellschaft mbH

     Omni-Pac Ekco GmbH Verpackungsmittel

     Omni-Pac GmbH Verpackungsmittel

- 16 -

 

     SIG Asset Holdings Limited

     Closure Systems International (Hong Kong) Limited

     SIG Combibloc Limited

     Evergreen Packaging (Hong Kong) Limited

     Closure Systems International Holdings (Hungary) Kft

     CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

     Closure Systems International Holdings (Japan) KK

     Closure Systems International Japan, Limited

     Beverage Packaging Holdings (Luxembourg) I S.A.

     Beverage Packaging Holdings (Luxembourg) III S.à r.l.

     Evergreen Packaging (Luxembourg) S.à r.l.

     Reynolds Group Issuer (Luxembourg) S.A.

     Bienes Industriales del Norte S.A. de C.V.

     CSI en Ensenada, S. de R.L. de C.V.

     CSI en Saltillo, S. de R.L. de C.V.

     CSI Tecniservicio, S. de R.L. de C.V.

     Grupo CSI de Mexico, S. de R.L. de C.V.

     Técnicos de Tapas Innovativas S.A. de C.V.

     Evergreen Packaging Mexico, S. de R.L. de C.V.

     Reynolds Metals Company de Mexico, S. de R.L. de C.V.

     Maxpack, S. de R.L. de C.V.

     Closure Systems International B.V.

     Reynolds Consumer Products International B.V.

     Evergreen Packaging International B.V.

     Reynolds Packaging International B.V.

- 17 -

 

     Reynolds Group Holdings Limited

     Whakatane Mill Limited

     SIG Combibloc Group AG

     SIG Technology AG

     SIG allCap AG

     SIG Combibloc (Schweiz) AG

     SIG Schweizerische Industrie-Gesellschaft AG

     SIG Combibloc Procurement AG

     SIG Reinag AG

     SIG Combibloc Ltd.

     SIG Holding USA Inc.

     SIG Combibloc Inc.

     Closure Systems International Americas, Inc.

     Closure Systems International Holdings Inc.

     Closure Systems International Inc.

     Reynolds Packaging Machinery Inc.

     Closure Systems Mexico Holdings LLC

     CSI Mexico LLC

     CSI Sales & Technical Services Inc.

     Bakers Choice Products, Inc.

     Reynolds Consumer Products Holdings Inc.

     Reynolds Consumer Products Inc.

     Reynolds Foil Inc.

     Reynolds Group Holdings Inc.

     Reynolds Services Inc.

- 18 -

 

     Blue Ridge Holding Corp.

     Blue Ridge Paper Products Inc.

     Evergreen Packaging International (US) Inc.

     Evergreen Packaging Inc.

     Evergreen Packaging USA Inc.

     Reynolds Packaging, Inc.

     Reynolds Packaging LLC

     Reynolds Packaging Kama Inc.

     Reynolds Food Packaging LLC

     Reynolds Flexible Packaging Inc.

     Southern Plastics Inc.

     Ultra Pac, Inc.

     BRPP, LLC

     Reynolds Group Issuer Inc.

     Reynolds Group Issuer LLC

     Pactiv Corporation (formerly Reynolds Acquisition Corporation)

     Pactiv Factoring LLC

     Pactiv RSA LLC

     Pactiv Retirement Administration LLC

     Pactiv Germany Holdings, Inc.

     Pactiv International Holdings Inc.

     Pactiv Management Company LLC

     PCA West Inc.

     Prairie Packaging, Inc.

     PWP Holdings, Inc.

- 19 -

 

     PWP Industries, Inc.

     Newspring Industrial Corp.

     798795 Ontario Limited

     Pactiv Canada Inc.

     Newspring Canada Inc.

     The Baldwin Group Limited

     J. & W. Baldwin (Holdings) Limited

     Omni-Pac U.K. Limited

PART 3

THE CURRENT SENIOR SECURED NOTES GUARANTORS

     Whakatane Mill Australia Pty Limited

     SIG Austria Holding GmbH

     SIG Combibloc GmbH & Co KG

     SIG Combibloc GmbH

     SIG Beverages Brasil Ltda

     SIG Combibloc do Brasil Ltda

     Closure Systems International (Brazil) Sistemas de Vedação Ltda

     CSI Latin American Holdings Corporation

     Closure Systems International (Canada) Limited

     Evergreen Packaging Canada Limited

     Reynolds Food Packaging Canada Inc.

     CSI Closure Systems Manufacturing de Centro America, S.R.L.

     SIG Holdings (UK) Limited

     SIG Combibloc Limited

- 20 -

 

     Closure Systems International (UK) Limited

     Reynolds Consumer Products (UK) Limited

     Reynolds Subco (UK) Limited

     Kama Europe Limited

     Ivex Holdings, Ltd.

     SIG Euro Holding AG & Co. KGaA

     SIG Beverages Germany GmbH

     SIG Combibloc Holding GmbH

     SIG Vietnam Beteiligungs GmbH

     SIG Combibloc GmbH

     SIG Combibloc Systems GmbH

     SIG Combibloc Zerspanungstechnik GmbH

     SIG Information Technology GmbH

     SIG International Services GmbH

     Closure Systems International Holdings (Germany) GmbH

     Closure Systems International Deutschland GmbH

     Pactiv Hamburg Holdings GmbH

     Pactiv Deutschland Holdinggesellschaft mbH

     Omni-Pac Ekco GmbH Verpackungsmittel

     Omni-Pac GmbH Verpackungsmittel

     SIG Asset Holdings Limited

     Closure Systems International (Hong Kong) Limited

     SIG Combibloc Limited

     Evergreen Packaging (Hong Kong) Limited

     Closure Systems International Holdings (Hungary) Kft.

- 21 -

 

     CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

     Closure Systems International Holdings (Japan) KK

     Closure Systems International Japan, Limited

     Beverage Packaging Holdings (Luxembourg) I S.A.

     Beverage Packaging Holdings (Luxembourg) III S.à r.l.

     Evergreen Packaging (Luxembourg) S.à r.l.

     Bienes Industriales del Norte S.A. de C.V.

     CSI en Ensenada, S. de R.L. de C.V.

     CSI en Saltillo, S. de R.L. de C.V.

     CSI Tecniservicio, S. de R.L. de C.V.

     Grupo CSI de Mexico, S. de R.L. de C.V.

     Técnicos de Tapas Innovativas S.A. de C.V.

     Evergreen Packaging Mexico, S. de R.L. de C.V.

     Reynolds Metals Company de Mexico, S. de R.L. de C.V.

     Maxpack, S. de R.L. de C.V.

     Closure Systems International B.V.

     Reynolds Consumer Products International B.V.

     Evergreen Packaging International B.V.

     Reynolds Packaging International B.V.

     Reynolds Group Holdings Limited

     Whakatane Mill Limited

     SIG Combibloc Group AG

     SIG Technology AG

     SIG allCap AG

     SIG Combibloc (Schweiz) AG

- 22 -

 

     SIG Schweizerische Industrie-Gesellschaft AG

     SIG Combibloc Procurement AG

     SIG Reinag AG

     SIG Combibloc Ltd.

     SIG Holding USA Inc.

     SIG Combibloc Inc.

     Closure Systems International Americas, Inc.

     Closure Systems International Holdings Inc.

     Closure Systems International Inc.

     Reynolds Packaging Machinery Inc.

     Closure Systems Mexico Holdings LLC

     CSI Mexico LLC

     CSI Sales & Technical Services Inc.

     Bakers Choice Products, Inc.

     Reynolds Consumer Products Holdings Inc.

     Reynolds Consumer Products Inc.

     Reynolds Foil Inc.

     Reynolds Group Holdings Inc.

     Reynolds Services Inc.

     Blue Ridge Holding Corp.

     Blue Ridge Paper Products Inc.

     Evergreen Packaging International (US) Inc.

     Evergreen Packaging Inc.

     Evergreen Packaging USA Inc.

     Reynolds Packaging, Inc.

- 23 -

 

     Reynolds Packaging LLC

     Reynolds Packaging Kama Inc.

     Reynolds Food Packaging LLC

     Reynolds Flexible Packaging Inc.

     Southern Plastics Inc.

     Ultra Pac, Inc.

     BRPP, LLC

     Pactiv Corporation (formerly Reynolds Acquisition Corporation)

     Pactiv Factoring LLC

     Pactiv RSA LLC

     Pactiv Retirement Administration LLC

     Pactiv Germany Holdings, Inc.

     Pactiv International Holdings Inc.

     Pactiv Management Company LLC

     PCA West Inc.

     Prairie Packaging, Inc.

     PWP Holdings, Inc.

     PWP Industries, Inc.

     Newspring Industrial Corp.

     798795 Ontario Limited

     Pactiv Canada Inc.

     Newspring Canada Inc.

     The Baldwin Group Limited

     J. & W. Baldwin (Holdings) Limited

     Omni-Pac U.K. Limited

- 24 -

 

PART 4

LIST OF CURRENT OCTOBER 2010 SECURED NOTES GUARANTORS

     Whakatane Mill Australia Pty Limited

     SIG Austria Holding GmbH

     SIG Combibloc GmbH & Co. KG

     SIG Combibloc GmbH

     SIG Beverages Brasil Ltda

     SIG Combibloc do Brasil Ltda

     Closure Systems International (Brazil) Sistemas de Vedação Ltda

     CSI Latin American Holdings Corporation

     Closure Systems International (Canada) Limited

     Evergreen Packaging Canada Limited

     Reynolds Food Packaging Canada Inc.

     CSI Closure Systems Manufacturing de Centro America, S.R.L.

     SIG Holdings (UK) Limited

     SIG Combibloc Limited

     Closure Systems International (UK) Limited

     Reynolds Consumer Products (UK) Limited

     Reynolds Subco (UK) Limited

     Kama Europe Limited

     Ivex Holdings, Ltd.

     SIG Euro Holding AG & Co. KGaA

     SIG Beverages Germany GmbH

- 25 -

 

     SIG Combibloc Holding GmbH

     SIG Vietnam Beteiligungs GmbH

     SIG Combibloc GmbH

     SIG Combibloc Systems GmbH

     SIG Combibloc Zerspanungstechnik GmbH

     SIG Information Technology GmbH

     SIG International Services GmbH

     Closure Systems International Holdings (Germany) GmbH

     Closure Systems International Deutschland GmbH

     Pactiv Hamburg Holdings GmbH

     Pactiv Deutschland Holdinggesellschaft mbH

     Omni-Pac Ekco GmbH Verpackungsmittel

     Omni-Pac GmbH Verpackungsmittel

     SIG Asset Holdings Limited

     Closure Systems International (Hong Kong) Limited

     SIG Combibloc Limited

     Evergreen Packaging (Hong Kong) Limited

     Closure Systems International Holdings (Hungary) Kft.

     CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

     Closure Systems International Holdings (Japan) KK

     Closure Systems International Japan, Limited

     Beverage Packaging Holdings (Luxembourg) I S.A.

     Beverage Packaging Holdings (Luxembourg) III S.à r.l.

     Evergreen Packaging (Luxembourg) S.à r.l.

     Bienes Industriales del Norte S.A. de C.V.

- 26 -

 

     CSI en Ensenada, S. de R.L. de C.V.

     CSI en Saltillo, S. de R.L. de C.V.

     CSI Tecniservicio, S. de R.L. de C.V.

     Grupo CSI de Mexico, S. de R.L. de C.V.

     Técnicos de Tapas Innovativas S.A. de C.V.

     Evergreen Packaging Mexico, S. de R.L. de C.V.

     Reynolds Metals Company de Mexico, S. de R.L. de C.V.

     Maxpack, S. de R.L. de C.V.

     Closure Systems International B.V.

     Reynolds Consumer Products International B.V.

     Evergreen Packaging International B.V.

     Reynolds Packaging International B.V.

     Reynolds Group Holdings Limited

     Whakatane Mill Limited

     SIG Combibloc Group AG

     SIG Technology AG

     SIG allCap AG

     SIG Combibloc (Schweiz) AG

     SIG Schweizerische Industrie-Gesellschaft AG

     SIG Combibloc Procurement AG

     SIG Reinag AG

     SIG Holding USA Inc.

     SIG Combibloc Inc.

     Closure Systems International Americas, Inc.

     Closure Systems International Holdings Inc.

- 27 -

 

     Closure Systems International Inc.

     Reynolds Packaging Machinery Inc.

     Closure Systems Mexico Holdings LLC

     CSI Mexico LLC

     CSI Sales & Technical Services Inc.

     Bakers Choice Products, Inc.

     Reynolds Consumer Products Holdings Inc.

     Reynolds Consumer Products Inc.

     Reynolds Foil Inc.

     Reynolds Group Holdings Inc.

     Reynolds Services Inc.

     Blue Ridge Holding Corp.

     Blue Ridge Paper Products Inc.

     Evergreen Packaging International (US) Inc.

     Evergreen Packaging Inc.

     Evergreen Packaging USA Inc.

     Reynolds Packaging, Inc.

     Reynolds Packaging LLC

     Reynolds Packaging Kama Inc.

     Reynolds Food Packaging LLC

     Reynolds Flexible Packaging Inc.

     Southern Plastics Inc.

     Ultra Pac, Inc.

     BRPP, LLC

     Pactiv Corporation (formerly Reynolds Acquisition Corporation)

- 28 -

 

     Pactiv Factoring LLC

     Pactiv RSA LLC

     Pactiv Retirement Administration LLC

     Pactiv Germany Holdings, Inc.

     Pactiv International Holdings Inc.

     Pactiv Management Company LLC

     PCA West Inc.

     Prairie Packaging, Inc.

     PWP Holdings, Inc.

     PWP Industries, Inc.

     Newspring Industrial Corp.

     798795 Ontario Limited

     Pactiv Canada Inc.

     Newspring Canada Inc.

     The Baldwin Group Limited

     J. & W. Baldwin (Holdings) Limited

     Omni-Pac U.K. Limited

PART 5

LIST OF ORIGINAL NEW SECURED NOTES GUARANTORS

     Whakatane Mill Australia Pty Limited

     CSI Latin American Holdings Corporation

     Closure Systems International (Canada) Limited

     Evergreen Packaging Canada Limited

     Reynolds Food Packaging Canada Inc.

- 29 -

 

     CSI Closure Systems Manufacturing de Centro America, S.R.L.

     SIG Holdings (UK) Limited

     SIG Combibloc Limited

     Closure Systems International (UK) Limited

     Reynolds Consumer Products (UK) Limited

     Reynolds Subco (UK) Limited

     Kama Europe Limited

     Ivex Holdings, Ltd.

     SIG Asset Holdings Limited

     Closure Systems International (Hong Kong) Limited

     SIG Combibloc Limited

     Evergreen Packaging (Hong Kong) Limited

     Closure Systems International Holdings (Hungary) Kft.

     CSI Hungary Gyártó és Kereskedelmi Kft. (aka CSI Hungary)

     Closure Systems International Holdings (Japan) KK

     Closure Systems International Japan, Limited

     Beverage Packaging Holdings (Luxembourg) I S.A.

     Beverage Packaging Holdings (Luxembourg) III S.à r.l.

     Evergreen Packaging (Luxembourg) S.à r.l.

     Bienes Industriales del Norte S.A. de C.V.

     CSI en Ensenada, S. de R.L. de C.V.

     CSI en Saltillo, S. de R.L. de C.V.

     CSI Tecniservicio, S. de R.L. de C.V.

     Grupo CSI de Mexico, S. de R.L. de C.V.

     Técnicos de Tapas Innovativas S.A. de C.V.

- 30 -

 

     Evergreen Packaging Mexico, S. de R.L. de C.V.

     Reynolds Metals Company de Mexico, S. de R.L. de C.V.

     Maxpack, S. de R.L. de C.V.

     Closure Systems International B.V.

     Reynolds Consumer Products International B.V.

     Evergreen Packaging International B.V.

     Reynolds Packaging International B.V.

     Reynolds Group Holdings Limited

     Whakatane Mill Limited

     SIG Combibloc Group AG

     SIG Holding USA Inc.

     SIG Combibloc Inc.

     Closure Systems International Americas, Inc.

     Closure Systems International Holdings Inc.

     Closure Systems International Inc.

     Reynolds Packaging Machinery Inc.

     Closure Systems Mexico Holdings LLC

     CSI Mexico LLC

     CSI Sales & Technical Services Inc.

     Bakers Choice Products, Inc.

     Reynolds Consumer Products Holdings Inc.

     Reynolds Consumer Products Inc.

     Reynolds Foil Inc.

     Reynolds Group Holdings Inc.

     Reynolds Services Inc.

- 31 -

 

     Blue Ridge Holding Corp.

     Blue Ridge Paper Products Inc.

     Evergreen Packaging International (US) Inc.

     Evergreen Packaging Inc.

     Evergreen Packaging USA Inc.

     Reynolds Packaging, Inc.

     Reynolds Packaging LLC

     Reynolds Packaging Kama Inc.

     Reynolds Food Packaging LLC

     Reynolds Flexible Packaging Inc.

     Southern Plastics Inc.

     Ultra Pac, Inc.

     BRPP, LLC

     Pactiv Corporation (formerly Reynolds Acquisition Corporation)

     Pactiv Factoring LLC

     Pactiv RSA LLC

     Pactiv Retirement Administration LLC

     Pactiv Germany Holdings, Inc.

     Pactiv International Holdings Inc.

     Pactiv Management Company LLC

     PCA West Inc.

     Prairie Packaging, Inc.

     PWP Holdings, Inc.

     PWP Industries, Inc.

     Newspring Industrial Corp.

- 32 -

 

     798795 Ontario Limited

     Pactiv Canada Inc.

     Newspring Canada Inc.

     The Baldwin Group Limited

     J. & W. Baldwin (Holdings) Limited

     Omni-Pac U.K. Limited

- 33 -

 

SCHEDULE 2

CONSOLIDATED CONFORMED COPY

- 34 -

 

SIGNATURE PAGE

THIS AGREEMENT has been entered into on the date stated at the beginning by:

The Security Grantors

SIG Euro Holding AG & CO. KGaA

acting through its general partner (Komplementär) SIG Reinag AG

	 	 	 	 	 
	 	 	 
	 	By:  	  /s/ Karen Mower
 	 
	 	 	Name:  	KAREN MOWER 	 
	 	 	Title:  	Authorised Signatory 	 
	 
	 	SIG Combibloc Systems GmbH

 	 
	 	By:  	/s/ Karen Mower
 	 
	 	 	Name:  	KAREN MOWER 	 
	 	 	Title:  	Authorised Signatory 	 
	 
	 	SIG Combibloc Holding GmbH

 	 
	 	By:  	/s/ Karen Mower
 	 
	 	 	Name:  	KAREN MOWER 	 
	 	 	Title:  	Authorised Signatory 	 
	 
	 	SIG Combibloc GmbH

 	 
	 	By:  	/s/ Karen Mower
 	 
	 	 	Name:  	KAREN MOWER 	 
	 	 	Title:  	Authorised Signatory 	 

- 35 -

 

	 	 	 	 	 
	 
	 	SIG Beverages Germany GmbH

 	 
	 	By:  	/s/ Karen Mower
 	 
	 	 	Name:  	KAREN MOWER 	 
	 	 	Title:  	Authorised Signatory 	 
	 
	 	SIG Combibloc Zerspanungstechnik GmbH

 	 
	 	By:  	/s/ Karen Mower
 	 
	 	 	Name:  	KAREN MOWER 	 
	 	 	Title:  	Authorised Signatory 	 
	 
	 	SIG International Services GmbH

 	 
	 	By:  	/s/ Karen Mower
 	 
	 	 	Name:  	KAREN MOWER 	 
	 	 	Title:  	Authorised Signatory 	 
	 
	 	SIG Information Technology GmbH

 	 
	 	By:  	/s/ Karen Mower
 	 
	 	 	Name:  	KAREN MOWER 	 
	 	 	Title:  	Authorised Signatory 	 

- 36 -

 

	 	 	 	 	 
	 	

SIG Vietnam Beteiligungs GmbH

 	 
	 	By:  	/s/ Karen Mower
 	 
	 	 	Name:  	KAREN MOWER 	 
	 	 	Title:  	Authorised Signatory 	 
	 
	 	Closure Systems International Holdings (Germany) GmbH

 	 
	 	By:  	/s/ Karen Mower
 	 
	 	 	Name:  	KAREN MOWER 	 
	 	 	Title:  	Authorised Signatory 	 
	 
	 	Closure Systems International Deutschland GmbH

 	 
	 	By:  	/s/ Karen Mower
 	 
	 	 	Name:  	KAREN MOWER 	 
	 	 	Title:  	Authorised Signatory 	 
	 
	 	SIG Technology AG

 	 
	 	By:  	/s/ Karen Mower
 	 
	 	 	Name:  	KAREN MOWER 	 
	 	 	Title:  	Authorised Signatory 	 
	 
	 	The Collateral Agent

THE BANK OF NEW YORK MELLON

 	 
	 	By:  	/s/ Catherine F. Donohue
 	 
	 	 	Name:  	CATHERINE F. DONOHUE 	 
	 	 	Title:  	VICE PRESIDENT 	 
	 

- 37 -

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