Document:

exv4w487

EXHIBIT 4.487

THE BANK OF NEW YORK MELLON

AS COLLATERAL AGENT

AND

THE COMPANIES LISTED IN SCHEDULE 1

AS PLEDGORS

 

CONFIRMATION AGREEMENT

 

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 Loan
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 Loan 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 Loan 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 Loan
Document to an Austrian addressee.

 

 

CONTENTS

	 	 	 	 	 
	CLAUSE	 	PAGE	 
	1. DEFINITIONS AND INTERPRETATION
	 	 	3	 
	 
	2. CONFIRMATION
	 	 	4	 
	 
	3. COST
	 	 	4	 
	 
	4. PARTIAL INVALIDITY
	 	 	4	 
	 
	5. LAW AND JURISDICTION
	 	 	4	 
	 
	SCHEDULE 1 THE PLEDGORS
	 	 	5	 
	 
	SCHEDULE 2 PLEDGE AGREEMENTS
	 	 	6	 

 

 

THIS CONFIRMATION AGREEMENT is made on 8 September 2011

BETWEEN:

	(1)	 	THE BANK OF NEW YORK MELLON, acting for itself and as collateral agent as appointed under the
First Lien Intercreditor Agreement (as defined below) for the benefit of the Secured Parties
(as defined below), together with its successors and permitted assigns in such capacity (the
“Collateral Agent”); and

	(2)	 	The pledgors listed in schedule 1 (the “Pledgors”).

WHEREAS:

	(A)	 	Pursuant to a credit agreement (the “Credit Agreement”) dated 5 November 2009 and entered
into between Reynolds Group Holdings Inc., Reynolds Consumer Products Holdings Inc., SIG Euro
Holding AG & Co. KGaA, Closure Systems International Holdings Inc., Closure Systems
International B.V., Pactiv Corporation and SIG Austria Holding GmbH as borrowers, Reynolds
Group Holdings Limited, the lenders from time to time party thereto and Credit Suisse AG, as
administrative agent, as amended by amendment agreements dated 21 January 2010, 4 May 2010, 30
September 2010, 9 February 2011 and 11 March 2011, as further amended, extended, restructured,
renewed, novated, supplemented, restated, refunded, replaced or modified from time to time,
certain loan facilities (the “Facilities”) were made available to the Borrowers (as defined
below).
	 
	(B)	 	Pursuant to an indenture (the “2009 Senior Secured Notes Indenture”) dated 5 November 2009
and entered into between the 2009 Issuers (as defined below), the Note Guarantors (as defined
therein) and The Bank of New York Mellon, as trustee, principal paying agent, transfer agent
and registrar, as amended, extended, restructured, renewed, refunded, novated, supplemented,
restated, replaced or modified from time to time, certain notes were issued by the 2009
Issuers.
	 
	(C)	 	On 5 November 2009, the Collateral Agent, The Bank of New York Mellon as trustee under the
2009 Senior Secured Notes Indenture, Credit Suisse AG as administrative agent under the Credit
Agreement, and the Loan Parties (as defined below) as at that date and certain other parties,
entered into an intercreditor agreement (the “First Lien Intercreditor Agreement”) amended by
an amendment dated 21 January 2010 and as further amended, novated, supplemented, restated or
modified from time to time.
	 
	(D)	 	Pursuant to an indenture (the “2010 Senior Secured Notes Indenture”) dated 15 October 2010
and entered into between the 2010 Issuers (as defined below), the Senior Secured Note
Guarantors (as defined therein), The Bank of New York Mellon, as trustee, principal paying
agent, transfer agent, registrar and collateral agent and Wilmington Trust (London) Limited as
additional collateral agent, as amended, extended, restructured, renewed, refunded, novated,
supplemented, restated, replaced or modified from time to time, certain notes were issued by
the 2010 Issuers.
	 
	(E)	 	Pursuant to a merger effective as of 21 December 2010, BPH III (as defined in Schedule 1) has
absorbed Reynolds Consumer Products (Luxembourg) S.à r.l. (“RCP Lux”) and Closure Systems
International (Luxembourg) S.à r.l. (“CSI Lux”) (the “Merger”).

 - 1 -

 

	(F)	 	Pursuant to an indenture (the “February 2011 Senior Secured Notes Indenture”) dated 1
February 2011 and entered into between the February 2011 Issuers (as defined below), the
Senior Secured Note Guarantors (as defined therein), The Bank of New York Mellon, as trustee,
principal paying agent, transfer agent, registrar and collateral agent and Wilmington Trust
(London) Limited as additional collateral agent, as amended, extended, restructured, renewed,
refunded, novated, supplemented, restated, replaced or modified from time to time, certain
notes were issued by the February 2011 Issuers.
	 
	(G)	 	On 9 August 2011, Reynolds Group Holdings Inc., Reynolds Consumer Products Holdings Inc.,
SIG Euro Holding AG & Co. KGaA, Closure Systems International Holdings Inc., Closure Systems
International B.V., Pactiv Corporation and SIG Austria Holding GmbH as borrowers, Reynolds
Group Holdings Limited, the lenders from time to time party thereto and Credit Suisse AG, as
administrative agent, together with certain other parties entered into an amendment no. 6 and
incremental term loan assumption agreement (the “Amendment No. 6”) relating to the Credit
Agreement (the “Second Amended and Restated Credit Agreement”).
	 
	(H)	 	Pursuant to an indenture (the “August 2011 Senior Secured Notes Indenture”) dated 9
August 2011 and entered into between RGHL US Escrow II Inc. and RGHL US Escrow II LLC
(collectively, the “August 2011 Escrow Issuers”) and The Bank of New York Mellon, as trustee,
principal paying agent, transfer agent, registrar and collateral agent and Wilmington Trust
(London) Limited, as additional collateral agent, The Bank of New York Mellon, as trustee,
principal paying agent, transfer agent, registrar and collateral agent and Wilmington Trust
(London) Limited as additional collateral agent, together with certain other parties, as
amended, extended, restructured, renewed, refunded, novated, supplemented, restated, replaced
or modified from time to time, certain notes were issued by the August 2011 Escrow Issuers
(the “August 2011 Senior Secured Notes”). On or about the date of this agreement, the August
2011 Senior Secured Notes shall be released from escrow, RGHL US Escrow II Inc. and RGHL US
Escrow II LLC shall be merged with and into Reynolds Group Issuer Inc. and Reynolds Group
Issuer LLC (together with Reynolds Group Issuer (Luxembourg) S.A., the “August 2011 Ultimate
Issuers”), respectively, and the obligations of the August 2011 Escrow Issuers shall be
assumed by the August 2011 Ultimate Issuers pursuant to one or more supplemental indentures
between, among others, the August 2011 Escrow Issuers, the August 2011 Ultimate Issuers, The
Bank of New York Mellon, as trustee, principal paying agent, transfer agent, registrar and
collateral agent and Wilmington Trust (London) Limited, as additional collateral agent.
	 
	(I)	 	On or about the date hereof, Reynolds Group Holdings Inc., Reynolds Consumer Products
Holdings Inc., each of the Security Reaffirming Parties therein, Credit Suisse AG as
administrative agent and The Bank of New York Mellon, as trustee and collateral agent
and Wilmington Trust (London) Limited, as collateral agent, have entered into a reaffirmation
agreement (the “Reaffirmation Agreement”) pursuant to which each Security Reaffirming Party
(i) reaffirmed the Security Documents (as defined therein) to which they are a party, (ii)
confirmed and reaffirmed its respective guarantee of the obligations as provided in the Second
Amended and Restated Credit Agreement and (iii) confirmed and reaffirmed that its respective
non-Swiss law security extends to the
Second

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	 	 	Amended and Restated Credit Agreement and the Additional Obligations as a result of
the Secured Notes Designation (as defined below).

	(J)	 	As a condition precedent to the issuance of the August 2011 Senior Secured Notes and any
further borrowing under the Second Amended and Restated Credit Agreement, the Pledgors have
agreed to confirm the security interest granted under each of the pledge agreements (as listed
in schedule 2 hereto, the “Pledge Agreements”).
	 
	(K)	 	The Obligations in respect of the August 2011 Senior Secured Notes Indenture and any Senior
Secured Note Documents (as defined therein) will or have been designated as “Additional
Obligations” under, and in accordance with, section 5.02 (c) of the First Lien Intercreditor
Agreement (the“Secured Notes Designation”).

THE PARTIES AGREE AS FOLLOWS:

	1.	 	DEFINITIONS AND INTERPRETATION
	 
	1.1	 	Terms defined in the First Lien Intercreditor Agreement and/or the Pledge Agreements shall
bear the same meaning herein, unless expressly provided to the contrary.
	 
	1.2	 	In this Agreement:
	 
	 	 	“2009 Issuers” shall mean the “Issuers” under and as defined in the 2009 Senior Secured
Notes Indenture, including their successors in interest.
	 
	 	 	“2010 Issuers” shall mean the
“Issuers-”” under and as defined in the 2010 Senior Secured
Notes Indenture, including their successors in interest.
	 
	 	 	“Borrowers” shall mean the “Borrowers” under, and as defined in, the Second Amended and
Restated Credit Agreement from time to time.
	 
	 	 	“February 2011 Issuers” shall mean the “Issuers” under and as defined in the February 2011
Senior Secured Notes Indenture, including their successors in interest.
	 
	 	 	“Loan Documents” shall mean the “Credit Documents” under, and as defined in, the First Lien
Intercreditor Agreement and any other document designated by the Loan Parties’ Agent and the
Collateral Agent as a Loan Document.
	 
	 	 	“Loan Parties” shall mean the “Grantors” under, and as defined in, the First Lien
Intercreditor Agreement.
	 
	 	 	“Secured Obligations” shall mean the “Secured Obligations” under, and as defined in, each of
the Pledge Agreements.
	 
	 	 	“Secured Parties” shall mean the “Secured Parties” under,
and as defined in, the First Lien
Intercreditor Agreement.
	 
	1.3	 	This Confirmation Agreement may be executed in any number of counterparts and by way of
facsimile exchange of executed signature pages, all of which together shall constitute one and
the same Confirmation Agreement.

 - 3 -

 

	1.4	 	The Parties agree that this Confirmation Agreement shall be deemed a “Security Document” for
the purposes of and as defined in the First Lien Intercreditor Agreement (and for no other
purpose) and that, accordingly, all rights , duties, privileges, protections and benefits of
the Collateral Agent set forth in the First Lien Intercreditor Agreement are hereby
incorporated by reference.
	 
	2.	 	CONFIRMATION
	 
	 	 	Each Pledgor hereby, for the benefit of the Collateral Agent acting for itself and as
collateral agent as appointed under the First Lien Intercreditor Agreement for the benefit
of the Secured Parties, expressly (a) confirms its respective pledges and grants of security
interests in the Pledge Agreements to which it is a party and (b) agrees and confirms that
the Pledge Agreements and each of the security interests created thereunder shall (i) remain
in full force and effect in accordance with their terms subject to any applicable Legal
Reservations, (ii) continue to secure the Secured Obligations as they shall be in existence
following the Amendment No. 6 to the Second Amended and Restated Credit Agreement and
Secured Notes Designation and (iii) extend, subject to the limitations (if any) contained in
the relevant Pledge Agreements, to the obligations assumed by any Loan Party under or in
connection with the Amendment No. 6 and the Second Amended and Restated Credit Agreement and
to the obligations that are “Additional Obligations” as a result of the Secured Notes
Designation, without any further actions.
	 
	3.	 	COST
	 
	 	 	All the Collateral Agent’s costs and expenses, shall be reimbursed in accordance with the
provisions of Section 9.05 (Expenses, Indemnity) of the Second Amended and Restated Credit
Agreement, as amended and restated from time to time.
	 
	4.	 	PARTIAL INVALIDITY
	 
	 	 	If any provision of this Agreement is declared by any judicial or other competent authority
to be void or otherwise unenforceable, that provision shall be severed from this Agreement
and the remaining provisions of this Agreement shall remain in full force and effect. The
Agreement shall, however, thereafter be amended by the parties in such reasonable manner so
as to achieve, without illegality, the intention of the parties with respect to that severed
provision.
	 
	5.	 	LAW AND JURISDICTION
	 
	 	 	This Agreement shall be governed by Luxembourg law and the courts of Luxembourg-City shall
have exclusive jurisdiction to settle any dispute which may arise from or in connection with
it.
	 
	 	 	This Agreement has been duly executed by the parties in eight copies.

 - 4 -

 

SCHEDULE 1

THE PLEDGORS

	1.	 	REYNOLDS GROUP HOLDINGS LIMITED, a company incorporated in New Zealand with
registration number 1812226 (“Parent”);
	 
	2.	 	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) I S.A., a société anonyme
incorporated under Luxembourg law with registered office at : 6C, rue Gabriel
Lippmann, L-5365 Munsbach, Grand-duchy of Luxembourg registered with the Luxembourg
register of commerce and companies under the number B128.592 (“BPH I”);
	 
	3.	 	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) II S.A., a société anonyme
incorporated under Luxembourg law with registered office at 6C, rue Gabriel Lippmann,
L-5365 Munsbach, Grand-duchy of Luxembourg registered with the Luxembourg register of
commerce and companies under the number B128.914 (“BPH II”);
	 
	4.	 	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) III S.À R.L., a société à
responsabilité limitée incorporated under Luxembourg law with registered office at 6C,
rue Gabriel Lippmann, L-5365 Munsbach, Grand-duchy of Luxembourg registered with the
Luxembourg register of commerce and companies under the number B128.135 and having a
share capital of EUR 404,969,325.- (“BPH III”);
	 
	5.	 	REYNOLDS GROUP ISSUER (LUXEMBOURG) S.A., a société anonyme incorporated under
Luxembourg law with registered office at 6C, rue Gabriel Lippmann, L-5365 Munsbach,
Grand-Duchy of Luxembourg, registered with the register of commerce and companies of
Luxembourg under number B148.957 (“Lux Issuer”);
	 
	6.	 	EVERGREEN PACKAGING (LUXEMBOURG) S.À R.L., a société à responsabilité limitée
incorporated under Luxembourg law with registered office at 6C, rue Gabriel Lippmann,
L — 5365 Munsbach, Grand-Duchy of Luxembourg, registered with the register of commerce
and companies of Luxembourg under
number B152.662 and having a share capital of EUR 12,500.- (“Evergreen”); and
	 
	7.	 	SIG COMBIBLOC HOLDING GMBH, a German limited liability company, having its registered office at
Rurstraße 58, 52441 Linnich, Germany, and registered with the Commercial Register of the Local
Court Düren under HR B 5751 (“SIG”).

 - 5 -

 

SCHEDULE 2

PLEDGE AGREEMENTS

	1.	 	a Luxembourg law share pledge agreement dated 5 November 2009 and entered into between
Parent as pledgor and the Collateral Agent, such pledge being granted over the shares held by
Parent in the share capital of BPH I;
	 
	2.	 	a Luxembourg law share pledge agreement dated 5 November 2009 and entered into between
BPH I as pledgor and the Collateral Agent, such pledge being granted over the shares held by
BPH I in the share capital of BPH III;
	 
	3.	 	a Luxembourg law share pledge agreement dated 5 November 2009 and entered into between
BPH I as pledgor and the Collateral Agent, such pledge being granted over the shares held by
BPH I in the share capital of the Lux Issuer;
	 
	4.	 	a Luxembourg law pledge over receivables agreement dated 5 November 2009 and entered
into by the Lux Issuer as pledgor and the Collateral Agent, such pledge being granted over
certain receivables held by the Lux Issuer towards BPH III under a proceeds loan agreement;
	 
	5.	 	a Luxembourg law pledge over receivables agreement dated 5 November 2009 and entered
into between BPH III as pledgor and the Collateral Agent, such pledge being granted over
certain receivables held by BPH III towards BPH I;
	 
	6.	 	a Luxembourg law pledge over receivables agreement dated 5 November 2009 and entered
into between BPH I as pledgor and the Collateral Agent, such pledge being granted over certain
receivables held by BPH I towards BPH III;
	 
	7.	 	a Luxembourg law first ranking pledge over receivables agreement dated 5 November 2009
and entered into between BPH II as pledgor and the Collateral Agent, such pledge being granted
over the claims the pledgor owns against BPH I under certain proceeds loans made by BPH II to
BPH I;
	 
	8.	 	a Luxembourg law profit participating bond pledge agreement dated 5 November 2009 and
entered into between BPH I as pledgor and the Collateral Agent, such pledge being granted over
the Bonds (as defined therein) issued by BPH III and held by BPH I;
	 
	9.	 	a Luxembourg law bank accounts pledge agreement dated 5 November 2009 and entered into
between BPH I as pledgor and the Collateral Agent, over certain bank accounts opened with
Société Générale Bank & Trust (the “Luxembourg Account Bank”);
	 
	10.	 	a Luxembourg law bank accounts pledge agreement dated 5 November 2009 and entered
into between BPH III as pledgor and the Collateral Agent, over certain bank accounts opened
with the Luxembourg Account Bank;
	 
	11.	 	a Luxembourg law bank accounts pledge agreement dated 5 November 2009 and entered
into between the Lux Issuer as pledgor and the Collateral Agent, over certain bank accounts
opened with the Luxembourg Account Bank;

 - 6 -

 

	12.	 	a Luxembourg law bank accounts pledge agreement dated 5 November 2009 and entered
into between Reynolds Consumer Products (Luxembourg) S.à r.l. as pledgor (the rights,
obligations and liabilities of which have been transferred to BPH III following the Merger)
and the Collateral Agent, over certain bank accounts opened with the Luxembourg Account Bank;
	 
	13.	 	a Luxembourg law bank accounts pledge agreement dated 5 November 2009 and entered
into between Closure Systems International (Luxembourg) S.à r.l. as pledgor (the rights,
obligations and liabilities of which have been transferred to BPH III following the Merger)
and the Collateral Agent, over certain bank accounts opened with the Luxembourg Account Bank;
	 
	14.	 	a Luxembourg law pledge over receivables agreement dated 2 December 2009 and entered
into between the Parent as pledgor and the Collateral Agent in the presence of BPH I, such
pledge being granted over certain receivables held by the Parent towards BPH I under an
intercompany loan agreement;
	 
	15.	 	a Luxembourg law pledge over receivables agreement dated 23 February 2010 and entered
into between BPH I as pledgor and the Collateral Agent in the presence of SIG Austria Holding
GmbH and SIG Euro Holding AG & Co. KGaA, such pledge being granted over certain receivables
held by BPH I towards SIG Austria Holding GmbH and SIG Euro Holding AG & Co. KGaA under
certain intercompany loan agreements;
	 
	16.	 	a Luxembourg law bank accounts pledge agreement dated 4 May 2010 and entered into
between Evergreen as pledgor and the Collateral Agent, over certain bank accounts opened with
the Luxembourg Account Bank;
	 
	17.	 	a Luxembourg law pledge over receivables agreement dated 4 May 2010 and entered into
between BPH III as pledgor and the Collateral Agent, such pledge to be granted over certain
receivables held by BPH III towards SIG Combibloc Holding GmbH; and
	 
	18.	 	a Luxembourg law pledge over shares agreement dated 4 May 2010 and entered into
between SIG as pledgor and the Collateral Agent, such pledge being granted over certain shares
of Evergreen held by SIG.

 - 7 -

 

SIGNATURE PAGE — LUXEMBOURG CONFIRMATION AGREEMENT

The Collateral Agent

THE BANK OF NEW YORK MELLON

Duly represented by:

	 	 	 	 	 
	 	 	 
	 	   	/s/ Catherine F. Donohue
 	 
	 	 	Name:  	 Catherine F. Donohue
 	 
	 	 	Title:  	Vice President	 
	 

The Pledgors

REYNOLDS GROUP HOLDINGS LIMITED (formerly known as Rank Group Holdings Limited)

Duly represented by:

	 	 	 	 	 

	/s/ Prudence Wyllie
 

	 	 
	 	 
	Name: Prudence Wyllie

	 	 	 	Witness: /s/ Fiona Singh
	Title: Authorised signatory
	 	 	 	 
	 

	 	 	 	Occupation: Lawyer
	 

	 	 	 	Address: Sydney, Australia

BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) I S.A.

Duly represented by:

	 	 	 	 	 
	 	 	 
	 	   	/s/ Prudence Wyllie
 	 
	 	 	Name:  	 Prudence Wyllie
	 
	 	 	Title:  	
Authorised Signatory 	 

  

 

	 	 	 	 	 

SIGNATURE PAGE — LUXEMBOURG CONFIRMATION AGREEMENT

BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) II S.A.

Duly represented by:

	 	 	 	 	 
	 	 	 
	 	   	/s/ Prudence Wyllie
 	 
	 	 	Name:  	
Prudence Wyllie 	 
	 	 	Title:  	

Authorised Signatory 	 
	 

BEVERAGE
PACKAGING HOLDINGS (LUXEMBOURG) III S.À R.L.

Duly represented by:

	 	 	 	 	 
	 	 	 
	 	   	/s/ Prudence Wyllie
 	 
	 	 	Name:  	Prudence Wyllie 	 
	 	 	Title:  	Authorised Signatory 	 
	 

REYNOLDS GROUP ISSUER (LUXEMBOURG) S.A.

Duly represented by:

	 	 	 	 	 
	 	 	 
	 	   	/s/ Prudence Wyllie
 	 
	 	 	Name:  	Prudence Wyllie
 	 
	 	 	Title:  	Authorised Signatory 	 

  

 

	 	 	 	 	 

SIGNATURE PAGE — LUXEMBOURG CONFIRMATION AGREEMENT

EVERGREEN PACKAGING (LUXEMBOURG) S.À R.L.

Duly represented by:

	 	 	 	 	 
	 	 	 
	 	   	/s/ Prudence Wyllie
 	 
	 	 	Name:  	Prudence Wyllie
 	 
	 	 	Title:  	Authorised Signatory 	 
	 

SIG COMBIBLOC HOLDING GMBH

Duly represented by:

	 	 	 	 	 
	 	 	 
	 	   	/s/ Prudence Wyllie
 	 
	 	 	Name:  	Prudence Wyllie
 	 
	 	 	Title:  	Authorised Signatoryexv4w488

EXHIBIT 4.488

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 LOAN
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 LOAN 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 LOAN 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 LOAN
DOCUMENT TO AN AUSTRIAN ADDRESSEE.

This Acknowledgment Agreement (Convenio de Reconocimiento) is entered into on this
8th day of September, 2011 (the “Agreement”), by and among Grupo CSI de México,
S. de R.L. de C.V., CSI en Saltillo, S. de R.L. de C.V., CSI en Ensenada, S. de R.L. de C.V., CSI
Tecniservicio, S. de R.L. de C.V., Bienes Industriales del Norte, S.A. de C.V., Técnicos de Tapas
Innovativas, S.A. de C.V., Evergreen Packaging México, S. de R.L. de C.V., Maxpack, S. de R.L. de
C.V., Reynolds Metals Company de México, S. de R.L. de C.V., Central de Bolsas, S. de R.L. de C.V.,
Grupo Corporativo Jaguar, S.A. de C.V., Servicios Industriales Jaguar, S.A. de C.V., Servicio
Terrestre Jaguar, S.A. de C.V., and Pactiv México, S. de R.L. de C.V., as pledgors under the Pledge
Agreements (as defined below), and The Bank of New York Mellon, acting solely in its capacity as
Collateral Agent on behalf and for the benefit of the Secured Parties, as pledgee under the Pledge
Agreements, in accordance with the following Recitals, Representations and Warranties and Clauses.
Terms used in this Agreement and not otherwise defined herein shall have the meaning set forth in
the Pledge Agreements.

Recitals

     I. First Pledge Agreement. On January 29, 2010, Grupo CSI de México, S. de R.L. de
C.V., CSI en Saltillo, S. de R.L. de C.V., CSI en Ensenada, S. de R.L. de C.V., CSI Tecniservicio,
S. de R.L. de C.V., Bienes Industriales del Norte, S.A. de C.V., and Técnicos de Tapas Innovativas,
S.A. de C.V., as pledgors, and the Pledgee entered into a floating lien pledge agreement (as
amended, extended, restructured, renewed, novated, supplemented, restated, refunded, replaced or
modified from time to time, the “First Pledge Agreement”). A copy of the First Pledge
Agreement together with the acknowledgement agreements dated May 4, 2010, November 16, 2010,
February 1, 2011 and February 9, 2011 relating to the First Pledge Agreement is attached hereto as
Exhibit “A”.

     II. Second Pledge Agreement. On May 4, 2010, Evergreen Packaging México, S. de R.L. de
C.V., as pledgor, and The Bank of New York Mellon, as pledgee, entered into a floating lien pledge
agreement (as amended, extended, restructured, renewed, novated, supplemented, restated, refunded,
replaced or modified from time to time, the “Second Pledge Agreement”). A copy of the

 

 

Second Pledge Agreement together with the acknowledgement agreements dated November 16, 2010,
February 1, 2011 and February 9, 2011 relating to the Second Pledge Agreement is attached hereto as
Exhibit “B”.

     III. Third Pledge Agreement. On September 1, 2010, Maxpack, S. de R.L. de C.V. and
Reynolds Metals Company de México, S. de R.L. de C.V., as pledgors, and The Bank of New York
Mellon, as pledgee, entered into a floating lien pledge agreement (as amended, extended,
restructured, renewed, novated, supplemented, restated, refunded, replaced or modified from time to
time, the “Third Pledge Agreement”). A copy of the Third Pledge Agreement together with the
acknowledgement agreements dated November 16, 2010, February 1, 2011 and February 9, 2011 relating
to the Third Pledge Agreement is attached hereto as Exhibit “C”.

     IV. Fourth Pledge Agreement. On April 19, 2011, Central de Bolsas, S. de R.L. de C.V.,
Grupo Corporativo Jaguar, S.A. de C.V., Servicios Industriales Jaguar, S.A. de C.V., Servicio
Terrestre Jaguar, S.A. de C.V., and Pactiv México, S. de R.L. de C.V., as pledgors, and The Bank of
New York Mellon, as pledgee, entered into a floating lien pledge agreement (as amended, extended,
restructured, renewed, novated, supplemented, restated, refunded, replaced or modified from time to
time, the “Fourth Pledge Agreement”, and together with the First Pledge Agreement, the
Second Pledge Agreement, and the Third Pledge Agreement, the “Pledge Agreements”). A copy
of the Fourth Pledge Agreement is attached hereto as Exhibit “D”.

     V. Incremental Assumption Agreement. On August 9, 2011, Reynolds Group Holdings Inc.,
Reynolds Consumer Products Holdings Inc., Closure Systems International Holdings Inc., SIG Euro
Holding AG & Co. KGaA, SIG Austria Holding GmbH, Closure Systems International B.V. and Pactiv
Corporation, as borrowers, the Guarantors from time to time party thereto (as defined therein), the
lenders from time to time party thereto and the Administrative Agent (as defined therein) entered
into the Amendment No. 6 and Incremental Term Loan Assumption Agreement (the “Incremental
Assumption Agreement”) pursuant to which the Credit Agreement was amended and restated as set
out in Annex A thereto (the “Second Amended and Restated Credit Agreement”).

     VI. August 2011 Secured Notes Indenture. On August 9, 2011, RGHL US Escrow II Inc. and
RGHL US Escrow II LLC (collectively, the “August 2011 Escrow Issuers”) and The Bank of New
York Mellon, as trustee, principal paying agent, transfer agent, registrar and collateral agent and
Wilmington Trust (London) Limited, as additional collateral agent, entered into an indenture (the
“August 2011 Secured Notes Indenture”) pursuant to which certain secured notes were issued
by the August 2011 Escrow Issuers. On or about the date hereof, RGHL US Escrow II Inc. and RGHL US
Escrow II LLC shall be merged with and into Reynolds Group Issuer Inc. and Reynolds Group Issuer
LLC (together with Reynolds Group Issuer (Luxembourg) S.A., the “August 2011 Ultimate
Issuers”), respectively, and the

 

 

obligations of the August 2011 Escrow Issuers shall be assumed by the August 2011 Ultimate
Issuers pursuant to one or more supplemental indentures between, among others, the August 2011
Escrow Issuers, the August 2011 Ultimate Issuers, The Bank of New York Mellon, as trustee,
principal paying agent, transfer agent, registrar and collateral agent and Wilmington Trust
(London) Limited, as additional collateral agent.

     VII. Secured Notes Designation. The obligations in respect of the August 2011 Secured
Notes Indenture and any Senior Secured Note Documents (as defined therein) will or have been
designated as “Additional Obligations” under, and in accordance with, section 5.02(c) of the First
Lien Intercreditor Agreement (the “Secured Notes Designation”).

Representations and Warranties

	I.	 	Each of the Pledgors hereby represents and warrants, with respect to itself, through
its legal representative, that on the date hereof:

	 	(a)	 	the individual executing this Agreement in the name and on behalf of each of
the Pledgors has sufficient power and authority, as well as the necessary authority
(corporate, organizational or otherwise) to validly execute and deliver this Agreement
on their behalf and to validly bind each of the Pledgors under the terms herein, as
evidenced in public deed numbers 34,664, 34,465, 34,468, 34,466, 34,474, 34,469,
34,476, 34,463, 34,475, 34,470, 34,471, 34,473 and 34,467, respectively, all dated
July 25, 2011, granted before Jose Luis Villavicencio Castañeda, Notary Public number
218 for Mexico City, Federal District, and that such powers, authority and corporate
or other authorizations have not been revoked, modified or limited in any manner.

NOW, THEREFORE, based on the Recitals and Representations and Warranties contained herein, the
parties hereto agree as follows:

Clauses

First.- Acknowledgment. Each Pledgor (a) confirms and agrees that the Pledge Agreements, as
applicable, and the Security Interest created thereunder continue to be in full force and effect
subject to the Legal Reservations (as such term is defined in the Second Amended and Restated
Credit Agreement), and (b) acknowledges and agrees that (i) the Incremental Assumption Agreement
constitutes a Loan Document, and (ii) the obligations of the Loan Parties under the Incremental
Assumption Agreement, the Second Amendment and Restated Credit Agreement and any obligations that
are “Additional Obligations” as a result of the Secured Notes Designation, in each case, constitute
Secured Obligations under the Pledge Agreements.

 

 

Second.- No Novation. The parties hereby expressly agree that this Agreement shall not
extinguish the obligations for the payment of money outstanding under any Loan Document or
discharge or release the priority of any Loan Document or any other security therefor. Nothing
herein shall be construed as a substitution or novation of the Secured Obligations, which shall
remain in full force and effect. Nothing in or implied by this Agreement or in any other document
contemplated hereby shall be construed as a release or other discharge of any Secured Obligation.
Each Pledge Agreement shall remain in full force and effect notwithstanding the execution and
delivery of this Agreement.

     The parties agree that this Agreement shall be deemed a “Security Document” for the purposes
of and as defined in the First Lien Intercreditor Agreement (and for no other purpose) and that,
accordingly, all rights, duties, privileges, protections and benefits of the Collateral Agent set
forth in the First Lien Intercreditor Agreement are hereby incorporated by reference.

Third.- Entire Agreement. The parties hereby expressly agree that this Agreement is and
shall be deemed a part of each Pledge Agreement and, for such reason, all references made in or
with respect to each Pledge Agreement, shall include this Agreement.

Fourth.- Jurisdiction, Governing Law. For all matters relating to the interpretation and
fulfillment of this Agreement, the parties hereto expressly and irrevocably submit to the
applicable laws of Mexico, and to the jurisdiction of the competent courts sitting in Mexico,
Federal District, Mexico, and the parties hereby expressly and irrevocably waive their rights to
any other jurisdiction to which they may be entitled to by reason of their present or any future
domiciles, or for any other reason.

Fifth.- Language. This Agreement is entered into in both the Spanish and English languages;
provided that, in the case of any judicial procedure before a Mexican court, the Spanish version
shall govern for all purposes.

[Signature page continues]

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed on the date
first above written.

The Pledgors:

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

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

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

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

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

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

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

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

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

Central de Bolsas, S. de R.L. de C.V.

Grupo Corporativo Jaguar, S.A. de C.V.

Servicios Industriales Jaguar, S.A. de C.V.

Servicio Terrestre Jaguar, S.A. de C.V.

Pactiv México, S. de R.L. de C.V.

________________________

Name:

Title:

The Pledgee:

The Bank of New York Mellon, acting solely in its capacity as Collateral Agent on behalf and for
the benefit of the Secured Parties.

_________________________

Name:

Title:

 

 

Exhibit “A”

Acknowledgement Agreement

Copy of First Pledge Agreement and

Acknowledgement Agreements

[Attached hereto]

 

 

Exhibit “B”

Acknowledgement Agreement

Copy of Second Pledge Agreement and

Acknowledgement Agreements

[Attached hereto]

 

 

Exhibit “C”

Acknowledgement Agreement

Copy of Third Pledge Agreement and

Acknowledgement Agreements

[Attached hereto]

 

 

Exhibit “D”

Acknowledgement Agreement

Copy of Fourth Pledge Agreement

[Attached hereto]

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