Document:

Eighth Amendment to Quota Pledge Agreement

 EXHIBIT 4.524 
 Execution version 
 The taking of this document or any certified copy of it or
any other 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 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 this 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 e-mail communication which refers to
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 this document to
an Austrian addressee. 
  
  

 
 EIGHTH AMENDMENT TO THE QUOTA
PLEDGE AGREEMENT 
 among 
 THE BANK OF NEW YORK MELLON 
 as Collateral Agent for the benefit of the Secured Parties under the First Lien Intercreditor 
 Agreement 
 and 

SIG AUSTRIA HOLDING GMBH 

as Grantor 

and 
 SIG
COMBIBLOC DO BRASIL LTDA. 
 as the Company 

 
  

Dated as of 

November 7, 2012 
  

 
  

 
  

 EIGHTH AMENDMENT TO THE QUOTA PLEDGE AGREEMENT 

This Eighth Amendment to the Quota Pledge Agreement (the “Amendment”) is made as of November 7, 2012 by and among: 

(a) SIG AUSTRIA HOLDING GMBH, a limited liability company duly organized and existing
in accordance with the laws of Austria, with its registered office at Industriestrasse 3, 5760 Saalfelden, Austria, registered in the commercial register (Firmenbuch) of the County Court Salzburg under registration number 236071 p, Austria,
enrolled with the Brazilian Taxpayers Roll of the Ministry of Finance (“CNPJ/MF”) under no 08.539.051/0001-06, herein duly represented in accordance with its Charter Documents (together with its successors and permitted assignees,
“Grantor”); 
 (b) THE BANK OF NEW
YORK MELLON, a financial institution duly organized and existing under the laws of the State of New York, with its registered office at 101 Barclay Street, 4E, New York, NY 12086, USA, enrolled with
the CNPJ/MF under no 09.214.177/0001-65, acting exclusively in the capacity as collateral agent of and for the benefit of the Secured Parties under the First Lien Intercreditor Agreement (together with its successors and permitted assignees in
such capacity, the “Collateral Agent”); and 
 (c) SIG COMBIBLOC DO
BRASIL LTDA., a limited liability company duly organized and existing in accordance with the laws of Brazil, with its registered office in the City of São Paulo, State of São Paulo, at Rua Funchal,
no 418, Edifício e-Tower, 14th floor, Vila Olímpia, CEP 04551-060, enrolled with the CNPJ/MF under no 01.861.489/0001-59 (the “Company”). 

WHEREAS, on March 30, 2010, the parties hereto entered into the Quota Pledge Agreement, as amended from time to time (the
“Pledge Agreement”). 
 WHEREAS, the following document was entered into on the date, and by and among the
parties described below: 
 Amendment No. 7 and Incremental Term Loan Assumption Agreement dated September 28, 2012,
entered into by and among, including others, Reynolds Group Holdings Inc., Reynolds Consumer Products Holdings LLC (formerly 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., Pactiv LLC (formerly Pactiv Corporation), Beverage Packaging Holdings (Luxembourg) III S.à r.l., Evergreen Packaging Inc., Reynolds Consumer Products Inc., Reynolds Group
Holdings Limited, the Guarantors from time to time party thereto, the Lenders from time to time party thereto and Credit Suisse AG as administrative agent for the Lenders, related to and amending and restating the Credit Agreement dated as of
November 5, 2009, as set out therein and as further amended, extended, restructured, renewed, novated, supplemented, restated, refunded, replaced or modified from time to time (the “Third Amended and Restated Credit
Agreement”). 

  
 2 

 WHEREAS, pursuant to an indenture (the “September 2012 Secured Notes
Indenture”) dated September 28, 2012, and entered into between, among others, Reynolds Group Issuer Inc., Reynolds Group Issuer LLC and Reynolds Group (Luxembourg) S.A. (the “September 2012 Issuers”), The Bank of New
York Mellon, as trustee, principal paying agent, transfer agent, registrar and collateral agent Wilmington Trust (London) Limited as additional collateral agent and The Bank of New York Mellon, London Branch, as paying agent, certain secured notes
(the “September 2012 Secured Notes”) were issued by the September 2012 Issuers. 
 WHEREAS, the obligations in
respect of the September 2012 Secured Notes Indenture and any Senior Secured Note Documents (as defined therein) 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”). 
 WHEREAS, the parties recognize and agree that the
security interest created under the Pledge Agreement shall extend to secure, in addition to the obligations currently secured thereby, the obligations created under the Third Amended and Restated Credit Agreement and the Additional Documents (as
defined under the First Lien Intercreditor Agreement) in respect of the Secured Notes Designation (“Additional Covered Obligations”). 
 WHEREAS, any and all of the U.S. dollar denominated 7.75% senior secured notes due 2016 outstanding under the Senior Secured Notes Indenture have been repaid or redeemed in full. 

NOW, THEREFORE, in consideration of the foregoing premises and mutual covenants contained herein, the parties hereto agree as follows:

 1. Defined Terms. Capitalized terms used and not otherwise defined in this Amendment are used herein and in any notice
given under this Amendment with the same meanings ascribed to such terms in the Pledge Agreement or any of its amendments. All terms defined in this Amendment shall have the defined meanings contained herein when used in any certificate or other
document made or delivered pursuant hereto unless otherwise defined therein. 
 2. Amendment. The parties hereto agree to
amend the Pledge Agreement as follows, such amendment to be in force and effect as of the date hereof: 
 (a) The following new
definitions will be inserted at the appropriate place in alphabetical order with the following wording: 
 “Credit
Agreement” means the third amended and restated credit agreement dated September 28, 2012 among Reynolds Group Holdings Inc., Reynolds Consumer Products Holdings LLC (formerly Reynolds Consumer Products Holdings Inc.), SIG Euro Holding
AG & Co. KGaA, Closure Systems International Holdings Inc., Closure Systems International B.V., Pactiv LLC (formerly Pactiv Corporation), SIG Austria Holding GmbH, Beverage Packaging Holdings (Luxembourg) III S.à r.l., Evergreen
Packaging Inc. and Reynolds Consumer 

  
 3 

 
Products Inc. as borrowers, Reynolds Group Holdings Limited, the lenders from time to time party thereto and Credit Suisse AG as administrative agent, as further amended, extended, restructured,
renewed, novated, supplemented, restated, refunded, replaced or modified from time to time. 
 “September 2012
Issuers” means the “Issuers” under, and as defined in, the September 2012 Secured Notes Indenture, including their successors in interest. 
 “September 2012 Secured Notes Indenture” means the indenture dated September 28, 2012, between the September 2012 Issuers and The Bank of New York Mellon, as trustee, principal
paying agent, transfer agent, registrar and collateral agent, Wilmington Trust (London) Limited as additional collateral agent and The Bank of New York Mellon, London Branch, as paying agent, as amended, extended, restructured, renewed, refunded,
novated, supplemented, restated, replaced or modified from time to time. 
 “September 2012 Secured Notes Indenture
Secured Parties” shall mean such entities as fall within the definition of “Additional Secured Parties” under the First Lien Intercreditor Agreement as a result of the designation of the obligations in respect of the
September 2012 Secured Notes Indenture and the Senior Secured Note Documents (as defined therein) being “Additional Obligations” under the First Lien Intercreditor Agreement. 

(b) In order to evidence the extension of the security interest created under the Pledge Agreement to the Additional Covered Obligations,
the Parties agree to amend the description of the Secured Obligations contained in Schedule A-I of the Pledge Agreement to read as follows: 
 DESCRIPTION OF THE SECURED OBLIGATIONS UNDER THE LOAN DOCUMENTS

 a) All obligations owed to the Secured Parties now existing or hereafter arising, direct or indirect, absolute or
contingent, due or to become due, under the Loan Documents, including (and without limitation): 
  

	 	(i)	a senior secured U.S. term loan facility in an aggregate principal amount not in excess of US $2,235,000,000 with an interest rate equivalent to the Applicable Margin
plus (a) the greater of (i) 1.00% per annum and (ii) the product of (x) the LIBO Rate in effect for such Interest Period and (y) Statutory Reserves or (b) the Alternate Base Rate as applicable; which shall be
repaid in full on September 28, 2018 (subject to prepayment and acceleration provisions); 

  
 4 

	 	(ii)	a senior secured European term loan facility in an aggregate principal amount not in excess of €300,000,000 with an interest rate equivalent to the Applicable
Margin plus (a) the greater of (i) 1.00% per annum and (ii) (x) the EURIBO Rate in effect for such Interest Period plus (y) Mandatory Cost or (b) in the case of loans denominated in Euro, the Foreign Base Rate as
applicable; which shall be repaid in full on September 28, 2018 (subject to prepayment and acceleration provisions); 

  

	 	(iii)	a senior secured U.S. revolving loan facility in an aggregate principal amount not in excess of US $120,000,000, which principal amounts include sub-limits for letter
of credit facilities, with an interest rate equivalent to the Applicable Margin plus (a) the greater of (i) 2.00% per annum and (ii) the product of (x) the LIBO Rate in effect for such Interest Period and (y) Statutory
Reserves or (b) the Alternate Base Rate as applicable; which shall be repaid in full on November 5, 2014 (subject to prepayment and acceleration provisions); 

 

	 	(iv)	a European revolving loan facility in an aggregate principal amount not in excess of €80,000,000, which principal amounts include sub-limits for letter of credit
facilities with an interest rate equivalent to the Applicable Margin plus (a) the greater of (i) 2.00% per annum and (ii) (x) the EURIBO Rate in effect for such Interest Period plus (y) Mandatory Cost or (b) in the
case of loans denominated in Euro, the Foreign Base Rate as applicable; which shall be repaid in full on November 5, 2014 (subject to prepayment and acceleration provisions); and 

 

	 	(v)	incremental loan facilities in a principal amount of up to US $750,000,000 with an interest rate equivalent to the rates set forth in clauses (i) through
(iv) above, as applicable to the relevant incremental loan facility; which shall be repaid in full as set forth in clauses (i) through (iv) above, as applicable to the relevant incremental loan facility or such other as set out in the
relevant Incremental Assumption Agreement, which date of repayment shall be earlier than the dates set forth above as applicable to the relevant incremental loan facility (subject to prepayment and acceleration provisions). 

b) all other obligations, advances, debts and liabilities owed to the Secured Parties under the Credit Agreement, including indemnities,
fees and interest incurred under, arising out of or in connection with the Credit Agreement. 
 Definitions 

For the purpose of this item “I” of this Schedule A, all capitalized terms used and not otherwise defined in this Agreement shall have the
meaning ascribed to such terms in the Credit Agreement. 
 (c) In order to evidence the extension of the security interest
created under the Pledge Agreement to the Additional Covered Obligations, the Parties also agree to insert Schedule A-VI describing the obligations in respect of the September 2012 Secured Notes: 

  
 5 

 VI-DESCRIPTION OF THE
OBLIGATIONS UNDER THE SENIOR SECURED NOTE DOCUMENTS 
 (RELATING TO THE SEPTEMBER 2012 SECURED NOTES INDENTURE) 

All obligations owed to the September 2012 Secured Notes Indenture Secured Parties now existing or hereafter arising, direct or indirect, absolute or
contingent, due or to become due, under the Senior Secured Note Documents (as such term is defined in the September 2012 Secured Notes Indenture), including (and without limitation): 
 (i) the due and punctual payment of: 
  

	 	(a)	(A) US $3,250,000,000 aggregate principal amount on the notes due 2020 and interest, which shall be paid on April 15 and October 15, at the rate of
5.750% per annum (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the notes, when and as due, whether at
maturity, by acceleration, upon one or more dates set for prepayment or otherwise; and 

  

	 	(b)	all other monetary obligations of any September 2012 Issuer to any of the September 2012 Secured Notes Indenture Secured Parties under the Senior Secured Note Documents
(as such term is defined in the September 2012 Secured Notes Indenture), including fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency
of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding). 

 (ii) the due and punctual performance of all other obligations of the September 2012 Issuers under or pursuant to the Senior Secured Note Documents (as such term is defined in the September 2012 Secured
Notes Indenture); and 
 (iii) the due and punctual payment and performance of all the obligations of each other obligor under or pursuant to
the Senior Secured Note Documents (as such term is defined in the September 2012 Secured Notes Indenture). 
 (d) In order to
evidence the repayment or redemption in full of any and all of the U.S. dollar denominated 7.75% senior secured notes due 2016 issued under the Senior Secured Notes Indenture, the Parties agree to amend the description of the obligations owed to the
Indenture Secured Parties contained in Schedule A-II of the Pledge Agreement by deleting paragraph (i)(a)(A) in its entirety and renaming the subsequent paragraph from (i)(a)(B) to (i)(a). 

  
 6 

 
(e) For the avoidance of doubt, the parties agree that, as a result of this amendment: (i) the obligations created under the Third Amended and Restated Credit Agreement, the September 2012
Secured Notes Indenture and the Senior Secured Note Documents (as defined therein) shall be considered “Secured Obligations” for the purposes of the Pledge Agreement; and (ii) any September 2012 Secured Notes Indenture Secured
Parties (including any holder of the September 2012 Secured Notes) shall be considered “Secured Parties” for the purposes of the Pledge Agreement. 
 3. Registration of this Amendment. The Grantor shall, at its own expense, no later than twenty (20) days from the execution date of this Amendment, (i) cause the signature of the parties
who have signed this Amendment outside Brazil to be notarized by a public notary and consularized at the local Brazil consulate, (ii) cause this Amendment to be translated into Portuguese by a public sworn translator (tradutor público
juramentado) and (iii) have this Amendment, together with its sworn translation (tradução juramentada) into Portuguese, annotated at the margin of the registration of the Pledge Agreement with the competent Registry of
Deeds and Documents (Cartório de Registro de Títulos e Documentos) in Brazil, pursuant to Article 128 of Law No. 6,015 of December 31, 1973. The Grantor shall, promptly after such registration, deliver to the
Collateral Agent evidence of such registration in form and substance satisfactory to the Collateral Agent. All expenses incurred in connection with such registrations shall be borne by the Grantor. 

Notwithstanding the foregoing, the Collateral Agent, at its sole discretion, may decide to undertake any of the registrations,
translations, filings and other formalities described herein if Grantor fails to do so, whereupon the Grantor shall reimburse the Collateral Agent promptly for any and all costs and expenses incurred by it related to such registrations,
translations, filings and other formalities in accordance with the provisions of the Principal Finance Documents. 
 4.
Effectiveness of the Pledge Agreement. All the provisions of the Pledge Agreement not expressly amended as a result of this Amendment shall remain in full force and effect. 

5. Security Document. The Parties agree that this Amendment 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. 
 6. Governing Law; Jurisdiction. This Amendment shall be governed by
and construed and interpreted in accordance with the laws of Brazil. The parties irrevocably submit to the jurisdiction of the courts sitting in the City of São Paulo, State of São Paulo, Brazil, any action or proceeding to resolve any
dispute or controversy related to or arising from this Amendment and the parties irrevocably agree that all claims in respect of such action or proceeding may be heard and determined in such courts, with the express waiver of the jurisdiction of any
other court, however privileged it may be. 

  
 7 

 IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed in the presence of the
undersigned witnesses. 
 SIG AUSTRIA HOLDING GMBH 

 

					
	 /s/ Darci Bet
 By: Darci Bet
 Title: attorney-in-fact
	 		 	

 SIG COMBIBLOC DO BRASIL LTDA. 

 

					
	 /s/ Ricardo Lança Rodriguez
 By: Ricardo Lança Rodriguez
 Title: Executive Director
	 		 	

  

					
	 /s/ Rodrigo Dabus Salomão
 By: Rodrigo Dabus Salomão
 Title: Manager
	 		 	

 THE BANK OF NEW YORK
MELLON as Collateral Agent acting as agent of and for the benefit of the Secured Parties 
  

					
	 /s/ Joaquim José Aceturi de Oliveira
 By: Joaquim José Aceturi de Oliveira
 Title: attorney-in-fact
	 		 	

  

					
	 WITNESSES:
  

/s/ Andrea Ribeiro

Name: Andrea Ribeiro
 ID:
23.126.528-1
	    	  
  
 /s/ Rita Scorzo
 Name: Rita Scorzo
 ID: 19.144.022-x
	  	

  
 8Confirmation Agreement

 EXHIBIT 4.525 
 EXECUTION VERSION 
 The taking of this Agreement 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 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 e-mail communication which refers
to any Credit Document in Austria or sending any e-mail communication to which a pdf scan of this Agreement 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 
 CONFIRMATION AND AMENDMENT AGREEMENT 

dated 7 November 2012 
 between 
 1. SIG Austria Holding GmbH 

2. SIG Combibloc GmbH 
 3. SIG Combibloc GmbH & Co KG 
 each as pledgor 

and 
 4.
Wilmington Trust (London) Limited 
 as pledgee and Collateral Agent 

  
 1 

 TABLE OF CONTENTS 

 

							
	1.	  	 Definitions
	  	 	4	  
			
	 2.
	  	 Construction
	  	 	6	  
			
	 3.
	  	 Confirmation
	  	 	7	  
			
	 4.
	  	 Amendments
	  	 	8	  
			
	 5.
	  	 Representations and Warranties
	  	 	10	  
			
	 6.
	  	 Notices
	  	 	10	  
			
	 7.
	  	 Execution in Counterparts
	  	 	10	  
			
	 8.
	  	 Stamp duty
	  	 	11	  
			
	 9.
	  	 Miscellaneous
	  	 	11	  
			
	 10.
	  	 Capital maintenance
	  	 	12	  
			
	 11.
	  	 Choice of Law
	  	 	12	  
			
	 12.
	  	 Settlement of disputes
	  	 	12	  
		
	Schedules	  			
		
	SCHEDULE 1 List of the Security Documents	  	 	14	  

 Recitals 
 (A) Under the Security Documents (as defined below), each Confirming Party (as defined below) granted a pledge over certain of its property as a security for the Secured Obligations (as defined in each
Security Document), in connection with the Credit Agreement (as defined below). 
 (B) The Confirming Parties and the Collateral Agent (as
defined below) are also, among others, parties to the First Lien Intercreditor Agreement (as defined below). 
 (C) The security granted by or
pursuant to the Security Documents is administered by the Collateral Agent for and on behalf of the Secured Parties (as defined in the First Lien Intercreditor Agreement) pursuant to the relevant provisions of the First Lien Intercreditor Agreement.

 (D) Among others, Reynolds Group Holdings Limited and the Administrative Agent (as defined in the First Lien Intercreditor Agreement) have
entered into the Assumption Agreement (as defined below) amending and restating the Credit Agreement, by which, inter alia, New Incremental Term Loans (as defined in the Assumption Agreement) of up to USD 2,235,000,000 and EUR €300,000,000 have
been made available to be used, together with funds otherwise available to Reynolds Group Holdings Limited and its subsidiaries, to prepay in full the Existing Outstanding Term Loans (as defined in the Assumption Agreement), amongst other things.

 (E) Pursuant to the indenture dated 28 September 2012, the Issuers (as defined therein) have issued certain secured debt securities.

 (F) Each Confirming Party expects to realise, or has realised, direct or indirect benefits as a result of the Assumption Agreement (as
defined below) becoming effective and the consummation of the transactions contemplated thereby. 

 It is agreed as follows: 

 

	1.	DEFINITIONS 

 A term defined in the First
Lien Intercreditor Agreement shall, unless otherwise defined in this Agreement, have the same meaning when used in this Agreement or any notice given under or in connection with this Agreement and in addition: 

 

			
	Agreement	  	means this confirmation and amendment agreement, as may be from time to time modified, amended or supplemented.
		
	Assumption Agreement	  	means the Amendment No. 7 and Incremental Term Loan Assumption Agreement dated 28 September 2012 among (amongst others) Reynolds Group Holdings Inc., Reynolds Consumer Products
Holdings LLC (formerly 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., Pactiv LLC (formerly Pactiv Corporation),
Beverage Packaging Holdings (Luxembourg) III S.à r.l., Evergreen Packaging Inc., Reynolds Consumer Products Inc., Reynolds Group Holdings Limited, the Guarantors (as defined therein) from time to time party thereto, the Lenders (as defined
therein) from time to time party thereto and Credit Suisse AG as the administrative agent, pursuant to which the Credit Agreement was amended and restated.
		
	Collateral Agent	  	means Wilmington Trust (London) Limited, as joint and several creditor for and on behalf of itself and each of the Secured Parties on the terms and conditions set out in the
First Lien Intercreditor Agreement. The term “Collateral Agent” shall include any person for the time being appointed as collateral agent, or as an additional collateral agent, for the purpose of, and in accordance with, the First Lien
Intercreditor Agreement and shall include successors, transferees and permitted assigns.

			
	Confirming Party	  	means each of SIG Austria Holding GmbH, SIG Combibloc GmbH and SIG Combibloc GmbH & Co KG.
		
	Credit Agreement	  	means the third amended and restated credit agreement dated 28 September 2012 among Reynolds Group Holdings Inc., Reynolds Consumer Products Holdings LLC, Closure Systems
International Holdings Inc., SIG Euro Holding AG & Co KGaA, SIG Austria Holding GmbH, Closure Systems International B.V., Pactiv LLC, Beverage Packaging Holdings (Luxembourg) III S.à r.l., Evergreen Packaging Inc. and Reynolds Consumer
Products Inc. as borrowers, Reynolds Group Holdings Limited, the guarantors from time to time party thereto, the lenders from time to time party thereto and Credit Suisse AG as administrative agent, as further amended, extended, restructured,
renewed, novated, supplemented, restated, refunded, replaced or modified from time to time.
		
	First Lien Intercreditor Agreement	  	means the first lien intercreditor agreement dated as of 5 November 2009 among (amongst others) The Bank of New York Mellon as collateral agent and as trustee under the Senior
Secured Note Indenture, Credit Suisse AG (formerly known as Credit Suisse) as administrative agent under the Credit Agreement and the Loan Parties, as amended, novated, supplemented, restated or modified from time to time (including by the Amendment
No. 1 and Joinder Agreement dated as of 21 January 2010, which added the Collateral Agent as a collateral agent under the First Lien Intercreditor Agreement).
		
	Party	  	means a party to this Agreement. The term “Parties” means any of them.

			
	Senior Secured Notes Indenture	  	means the senior secured notes indenture entered into, between, among others, the Issuers (as defined therein), The Bank of New York Mellon as trustee, principal paying agent,
transfer agent, collateral agent and registrar and Wilmington Trust (London) Limited as additional collateral agent dated as of 28 September 2012, as amended or modified from time to time.
		
	SIG Austria Holding GmbH	  	means SIG Austria Holding GmbH, a limited liability company organised under the laws of Austria with its seat in Saalfelden am Steinernen Meer, Austria, and its business address
as at the date of this Agreement at Industriestraße 3, 5760 Saalfelden, Austria, registered in the Austrian companies register (Firmenbuch) under file number FN 236071 p.
		
	SIG Combibloc GmbH	  	means SIG Combibloc GmbH, a limited liability company organised under the laws of Austria with its seat in Saalfelden am Steinernen Meer, Austria, and its business address as at
the date of this Agreement at Industriestraße 3, 5760 Saalfelden, Austria, registered in the Austrian companies register (Firmenbuch) under file number FN 237985 d.
		
	SIG Combibloc GmbH & Co KG	  	means SIG Combibloc GmbH & Co KG, a limited partnership organised under the laws of Austria with its seat in Saalfelden am Steinernen Meer, Austria, and its business address
as at the date of this Agreement at Industriestraße 3, 5760 Saalfelden, Austria, registered in the Austrian companies register (Firmenbuch) under file number FN 240335 i.
		
	Security Documents	  	means the documents listed in Schedule 1.

	2.	CONSTRUCTION 

 In this
Agreement, unless the context otherwise requires: 
  

	 	(a)	the rules of interpretation contained in the First Lien Intercreditor Agreement apply to the construction of this Agreement and any notice given under or in connection
with this Agreement; 

  

	 	(b)	unless otherwise stated, a “Clause” is a reference to a Clause of this Agreement; 

 

	 	(c)	unless otherwise stated, a “Schedule” is a reference to a Schedule of this Agreement and references to this Agreement include its Schedules;

  

	 	(d)	words importing the plural shall include the singular and vice versa; 

  

	 	(e)	a reference to (or to any specified provision of) any agreement, deed or other instrument (for the avoidance of doubt including, but not limited to, such agreements,
deeds or other instruments which are entered into prior to or after the conclusion of this Agreement) is to be construed as a reference to that agreement, deed or other instrument or that provision as from time to time amended, extended,
restructured, renewed, refunded, novated, supplemented, restated, replaced or modified; and 

  

	 	(f)	this Agreement is subject to the terms of the First Lien Intercreditor Agreement and of any other Intercreditor Arrangements (as defined in the Security Documents). In
the event of a conflict between the terms of this Agreement, the First Lien Intercreditor Agreement or any other Intercreditor Arrangements, the terms of the First Lien Intercreditor Agreement or any other Intercreditor Arrangements, as relevant,
will prevail. 

  

	3.	CONFIRMATION 

  

	3.1	Each Confirming Party hereby: 

  

	 	(a)	consents to the Assumption Agreement and the transactions contemplated thereby; and 

 

	 	(b)	agrees that, notwithstanding the effectiveness or otherwise of the Assumption Agreement and the issuance of the Senior Secured Notes (as defined in the Senior Secured
Notes Indenture), each of the Security Documents to which it is a party continues, subject to the Legal Reservations (as defined in the Credit Agreement), to be in full force and effect; and 

	 	(c)	confirms the pledges and security interests created by or pursuant to the Security Documents to which it is a party and that such pledges and security interests are
upheld and remain unaffected; and 

  

	 	(d)	acknowledges that the pledges and security interests created by or pursuant to the Security Documents to which it is a party continue in full force and effect subject
to the Legal Reservations (as defined in the Credit Agreement) and extend, subject to the limitations therein, to (i) the New Incremental Term Loans (as defined in the Assumption Agreement), which shall be considered “Credit Agreement
Obligations” under the First Lien Intercreditor Agreement, and (ii) the “Secured Obligations” as defined in the Senior Secured Notes Indenture, which have been designated as “Additional Obligations” under and pursuant
to the First Lien Intercreditor Agreement. 

  

	3.2	Each Confirming Party further confirms and agrees that, with respect to the Security Documents to which it is a party, the obligations under the New Incremental
Term Loans (as defined in the Assumption Agreement) and the Senior Secured Notes (as defined in the Senior Secured Notes Indenture) constitute “Secured Obligations” under each Security Document to which it is a party.

  

	3.3	Each of the Confirming Parties hereby agrees that each of the Parallel Debt of such Confirming Party created under the First Lien Intercreditor Agreement or
under any guarantor joinder to the First Lien Intercreditor Agreement, in effect prior to the date hereof shall continue to be in full force and effect and shall accrue to the benefit of the Collateral Agent (for the benefit of the Secured Parties)
and shall continue to apply, as applicable, in relation to all Obligations defined in the First Lien Intercreditor Agreement following the effectiveness of the Assumption Agreement. 

 

	3.4	For the avoidance of doubt, notwithstanding anything contained herein, this agreement is a Security Document under the First Lien Intercreditor Agreement and
each of the protections, immunities, rights, indemnities and benefits conferred on the Collateral Agent under the Security Documents and the First Lien Intercreditor Agreement, respectively, shall continue in full force and effect and shall apply to
this Agreement as if set out in full herein. 

  

	4.	AMENDMENTS 

 The Collateral Agent and SIG
Combibloc GmbH & Co KG hereby agree that 

	 	(a)	Sub-Clause 4.5 of the receivables pledge agreement over the receivables granted by SIG Combibloc GmbH & Co KG in favour of the Collateral Agent shall be
replaced by the following wording: 

 At all times while no Enforcement Event is continuing, the Pledgor is
authorised by the Collateral Agent to collect the Receivables in its own name and for its own account and to dispose of, and exercise any rights and claims in relation to, the Receivables in accordance with the terms of the Principal Finance
Documents. Subject to sub-Clause 4.7, the Collateral Agent may (as instructed in accordance with the First Lien Intercreditor Agreement) revoke such authorisation at any time if an Enforcement Event has occurred and is continuing. 

 

	 	(b)	A new sub-Clause 4.6 shall be added to the receivables pledge agreement over the receivables granted by SIG Combibloc GmbH & Co KG in favour of the Collateral
Agent: 

 Notwithstanding sub-Clause 4.5, the Collateral Agent hereby reassigns to the Pledgor all Existing
Receivables and Future Receivables that are subject to a purchase and disposal in connection with any factoring arrangement which is permitted under the Principal Finance Documents (“Factoring Receivables”). Such re-assignment
shall be subject to the condition precedent (aufschiebende Bedingung) that the relevant Factoring Receivable has been accepted for purchase under the relevant factoring arrangement. The Pledgor hereby accepts the reassignment of such
Factoring Receivables. 
  

	 	(c)	A new sub-Clause 4.7 shall be added to the receivables pledge agreement over the receivables granted by SIG Combibloc GmbH & Co KG in favour of the Collateral
Agent: 

 For reasons of precaution, the Collateral Agent and the Pledgor agree that should any of the
reassignments contemplated under sub-Clause 4.6 be invalid, the authorisation granted pursuant to sub-Clause 4.5 shall continue to apply to the relevant Factoring Receivables. In such case, the authorisation with respect to the disposal of such
Factoring Receivables may not be revoked. 
  

	 	(d)	the definition “Receivables” shall be replaced by the following wording: 

“Receivables” means the Existing Receivables and the Future Receivables except for any receivables of the Pledgor against
the factoring bank under any factoring arrangement which is permitted under the Principal Finance Documents. 

	5.	REPRESENTATIONS AND WARRANTIES 

  

	5.1	Each Confirming Party hereby represents and warrants to the Collateral Agent as of the date hereof that such Confirming Party (a) is duly organized and
validly existing under the laws of Austria and (b) has the power and authority to execute, deliver and perform its obligations under this Agreement. 

  

	5.2	Each Confirming Party hereby represents and warrants to the Collateral Agent as of the date hereof that the entry by such Confirming Party into this Agreement
and the transactions contemplated in the Assumption Agreement have been duly authorized by all requisite corporate and/or partnership and, if required, stockholder and partner action. 

 

	5.3	Each Confirming Party hereby represents and warrants to the Collateral Agent as of the date hereof that this Agreement has been duly executed and delivered by
each such Confirming Party and, subject to Legal Reservations (as defined in the Credit Agreement), constitutes a legal, valid and binding obligation of such Confirming Party enforceable against such Confirming Party in accordance with its terms.

  

	6.	NOTICES 

 All
communications and notices hereunder shall be in writing and given as provided in Section 5.01 of the First Lien Intercreditor Agreement; provided that all communications and notices to Wilmington Trust (London) Limited hereunder shall be given
to it at the address set forth below, or to such other address as Wilmington Trust (London) Limited may hereafter specify. 

Wilmington Trust (London) Limited 
 Third Floor 
 1 King’s Arms Yard 

London EC2R 7AF 

Facsimile: +44 (0) 20 7397 3601 
 Attention: Paul Barton 
  

	7.	EXECUTION IN COUNTERPARTS 

This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when
so executed shall be deemed to be an original and all of which taken together shall constitute one and the same Agreement. In this respect the Collateral Agent and the Confirming Parties agree not to contest the validity of an uncertified copy of
this Agreement in any court or enforcement proceedings in the Republic of Austria. 

	8.	STAMP DUTY 

 The parties
hereto agree that the provisions of sections 9.19 (Place of Performance) and 9.20 (Austria Stamp Duty) of the Credit Agreement (and, if the Credit Agreement is no longer in existence, an equivalent clause in any Additional Agreement)
and the provisions of sections 5.15 (Place of Performance) and 5.16 (Austrian Stamp Duty) of the First Lien Intercreditor Agreement (and, if the First Lien Intercreditor Agreement is no longer in existence, an equivalent clause in any
other Intercreditor Arrangements) shall apply to this Agreement as if incorporated herein mutatis mutandis. 
  

	9.	MISCELLANEOUS 

  

	9.1	This Agreement is a Loan Document (as defined in the Credit Agreement) executed pursuant to the Credit Agreement and shall (unless otherwise expressly indicated
herein) be construed, administered and applied in accordance with the terms of the Credit Agreement. 

  

	9.2	This Agreement shall not extinguish the obligations for the payment of money outstanding under any Credit Document or discharge or release the priority of any
Credit Document or any other security therefore. Nothing herein shall be construed as a substitution or novation of the obligations outstanding under any Credit Document or instruments securing the same, 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 obligations or liabilities of any party under any Credit Document. Each of the Credit Documents shall
remain in full force and effect notwithstanding the execution and delivery of this Agreement. 

  

	9.3	Except as expressly set forth herein, this Agreement shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights
and remedies of the Secured Parties under any Credit Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in any Credit Document, all of which are ratified and
affirmed in all respects and shall continue in full force and effect. 

  

	9.4	 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 by such valid, legal or enforceable provision which comes as close as possible to the original
intent of the parties in respect of the invalid, illegal or unenforceable provision. 

  

	9.5	Any amendments, changes, variations or waivers to this Agreement may be made only with the agreement of the Confirming Parties and the Collateral Agent in
writing and, if required under Austrian statutory law, in the form of a notarial deed. This applies also to this Clause 9.5. 

  

	10.	CAPITAL MAINTENANCE 

  

	10.1	The liability of the Confirming Parties under this Agreement shall at all times be limited so that no assumption of an obligation under this Agreement be
required if this would violate mandatory Austrian capital maintenance rules (Kapitalerhaltungsvorschriften) pursuant to Austrian company law, in particular Sections 82 et seq of the Austrian Act on Limited Liability Companies (Gesetz über
Gesellschaften mit beschränkter Haftung) and/or Sections 52 and 65 et seq of the Austrian Stock Corporation Act (Aktiengesetz). 

  

	10.2	Should any obligation under this Agreement violate or contradict Austrian capital maintenance rules and should therefore be held invalid or unenforceable, such
obligation shall be deemed to be replaced by an obligation of a similar nature which is in compliance with Austrian capital maintenance rules and which provides the best possible security interest in favour of the Secured Parties. By way of example,
should it be held that the security interest created under a Security Document as amended by this Agreement is contradicting Austrian capital maintenance rules in relation to any amount of the Secured Obligations (as defined in such Security
Document), the security interest created under such Security Document as amended by this Agreement shall be reduced to the maximum amount of the Secured Obligations (as defined in such Security Document), which is permitted pursuant to Austrian
capital maintenance rules. 

  

	11.	CHOICE OF LAW 

 This
Agreement shall be governed and construed in accordance with the laws of Austria. 
  

	12.	SETTLEMENT OF DISPUTES 

  

	12.1	Jurisdiction of English Courts 

  

	 	(a)	The courts of England, shall have exclusive jurisdiction to settle any dispute arising out of or in connection with this Agreement (including a dispute regarding the
existence, validity or termination of this Agreement). 

  

	 	(b)	The Parties agree that the courts of England are the most appropriate and convenient courts to settle disputes and accordingly no Party will argue to the contrary.

	12.2	Clause 12.1 is for the benefit of the Collateral Agent only. As a result, the Collateral Agent shall not be prevented from taking proceedings relating to a
dispute in any other courts with jurisdiction. To the extent allowed by law, the Collateral Agent may take concurrent proceedings in any number of jurisdictions. 

 

	12.3	Without prejudice to any other mode of service allowed under any relevant law, the Pledgor: 

 

	 	(a)	irrevocably appoints Law Debenture Corporate Services Limited as its agent for service of process in relation to any proceedings before the English courts in connection
with this Agreement; and 

  

	 	(b)	agrees that failure by an agent for service of process to notify the Pledgor of the process will not invalidate the proceedings concerned. 

 SCHEDULE 1 
 LIST OF THE SECURITY DOCUMENTS 
  

	(a)	Limited interest pledge agreement over the limited partnership interest in SIG Combibloc GmbH & Co KG granted by SIG Austria Holding GmbH in favour of
the Collateral Agent; 

  

	(b)	General interest pledge agreement over the general partnership interest in SIG Combibloc GmbH & Co KG granted by SIG Combibloc GmbH in favour of the
Collateral Agent; 

  

	(c)	Account pledge agreement over the bank accounts granted by SIG Austria Holding GmbH in favour of the Collateral Agent; 

 

	(d)	Account pledge agreement over the bank accounts granted by SIG Combibloc GmbH in favour of the Collateral Agent; 

 

	(e)	Account pledge agreement over the bank accounts granted by SIG Combibloc GmbH & Co KG in favour of the Collateral Agent; 

 

	(f)	Receivables pledge agreement over the receivables granted by SIG Austria Holding GmbH in favour of the Collateral Agent; 

 

	(g)	Receivables pledge agreement over the receivables granted by SIG Combibloc GmbH in favour of the Collateral Agent; 

 

	(h)	Receivables pledge agreement over the receivables granted by SIG Combibloc GmbH & Co KG in favour of the Collateral Agent. 

 EXECUTION PAGE 

 

			
	SIG Austria Holding GmbH as pledgor
	
	 /s/ Cindi Lefari

			
	signed by:	 	Cindi Lefari [please print full name]
	
	  

			
	Date	 	 November 7, 2012

	
	SIG Combibloc GmbH as pledgor
	
	 /s/ Cindi Lefari

			
	signed by:	 	Cindi Lefari [please print full name]
	
	  

			
	Date	 	 November 7, 2012

	
	SIG Combibloc GmbH & Co KG as pledgor
	
	 /s/ Cindi Lefari

			
	signed by:	 	Cindi Lefari [please print full name]
	
	  

			
	Date	 	 November 7, 2012

Wilmington Trust (London) Limited as pledgee and Collateral Agent 

 

			
	
	 /s/ Elaine Lockhart

			
	signed by	 	Elaine Lockhart
		 	Director

			
	
	  

	Date	 	 7 November 2012

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