Document:

exv4w377

EXHIBIT 4.377

AMENDMENT AGREEMENT NO. 4

dated 9 February 2011

for

CLOSURE SYSTEMS INTERNATIONAL B.V.

as Chargor

and

WILMINGTON TRUST (LONDON) LIMITED

as Chargee

 

RELATING TO A

QUOTA CHARGE AGREEMENT

DATED 29 JANUARY 2010 AS AMENDED ON 4 MAY 2010,

16 NOVEMBER 2010 AND 1 FEBRUARY 2011

 

in respect of its Quota in Closure Systems International Holdings (Hungary) Kft.

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 AMENDMENT AGREEMENT (the “Agreement”) is made on 9 February 2011

BETWEEN:

	(1)	 	Closure Systems International B.V., a private company with limited liability incorporated
under the laws of The Netherlands, having its seat as at the date of this Agreement at
Teleportboulevard 140, 1043 EJ Amsterdam, The Netherlands, registered with the Chamber of
Commerce in Amsterdam, The Netherlands, under registration number 34291082, as owner of the
Quota (as defined below) and chargor under this Agreement (hereinafter referred to as the
“Chargor”);
	 
	 	 	and
	 
	(2)	 	Wilmington Trust (London) Limited, acting as chargee under this Agreement, in its capacity as
collateral agent acting on behalf and for the benefit of the Secured Parties (as defined
below), as appointed under the First Lien Intercreditor Agreement and authorised to represent
their joint and several rights in connection with this Agreement (hereinafter, with its
successors, permitted transferees and permitted assign in such capacity, referred to as the
“Collateral Agent” or the “Chargee”);
	 
	 	 	(1) and (2) are together hereinafter referred to as the “Parties” and “Party” means any
of them, as the context may require.

This Agreement is hereby acknowledged and accepted by:

	(3)	 	Closure Systems International Holdings (Hungary) Vagyonkezelő Korlátolt Felelősségű Társaság,
a limited liability company incorporated under the laws of Hungary, having its registered
office as at the date of this Agreement at Berényi út 72-100., 8000 Székesfehérvár, Hungary,
registered with the Fejér County Court acting as court of registration under registration
number Cg. 07-09-015084, (hereinafter referred to as the “Company”).

RECITALS:

	(A)	 	The Parties hereby declare that the Quota Charge Agreement (as defined below) was
originally concluded on 29 January 2010 between the Chargee and the Chargor, pursuant to both
(i) a credit agreement dated 5 November 2009 (as subsequently amended) between among others
Reynolds Group Holdings Inc., Reynolds Consumer Products Holdings Inc., Closure Systems
International Holdings Inc., SIG Euro Holding AG & Co KGaA, SIG Austria Holding GmbH, Pactiv
Corporation, Closure Systems International BV, the other borrowers party thereto, the lenders
from time to time parties thereto, and Credit Suisse AG (formerly known as Credit Suisse) as
administrative agent (the “Credit Agreement”) and (ii) an indenture dated 5 November 2009
between, among others, Reynolds Group Escrow LLC, Reynolds Group DL Escrow Inc. and The Bank
of New York Mellon, as trustee, principal paying agent, transfer agent and registrar, as
modified, amended or supplemented from time to time (the “2009 Indenture”), and the Quota
Charge Agreement was amended on 16 November 2010 pursuant to an indenture dated 15 October
2010 between, among others, RGHL US Escrow I Inc., RGHL US Escrow I

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	 	 	LLC and RGHL Escrow Issuer
(Luxembourg) I S.A. 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 “2010 Indenture”)
and the Quota Charge Agreement was further amended on 1 February 2011 pursuant to an
indenture dated 1 February 2011 between, among others, Reynolds Group Issuer LLC, Reynolds
Group Issuer Inc. and Reynolds Group Issuer (Luxembourg) S.A. as 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 (the “February
2011 Secured Notes Indenture”).
	 
	(B)	 	In connection with the Credit Agreement, the 2009 Indenture, the 2010 Indenture and
the February 2011 Secured Notes Indenture certain parties have entered into a first lien
intercreditor agreement dated 5 November 2009 between, among others, The Bank of New York
Mellon as trustee under the 2009 Indenture, Credit Suisse AG as representative under the
Credit Agreement and each grantor that are parties thereto, as subsequently amended by
Amendment No. 1 and Joinder Agreement dated 21 January 2010, which added the Collateral Agent
as a collateral agent under the First Lien Intercreditor Agreement (the “First Lien
Intercreditor Agreement”).
	 
	(C)	 	Pursuant to an amendment no. 4 and incremental term loan assumption agreement (the
“Amendment and Incremental Assumption Agreement”) dated on or about the date of this Agreement
and entered into between, among others Reynolds Group Holdings Inc., Reynolds Consumer
Products Holdings Inc., Closure Systems International Holdings Inc., SIG Euro Holding AG & Co
KGaA, SIG Austria Holding GmbH, Pactiv Corporation, Closure Systems International B.V., the
other borrowers party thereto, the lenders from time to time party thereto and Credit Suisse
AG (formerly known as Credit Suisse) as administrative agent, the Credit Agreement has been
amended and restated in the form of Annex A thereto (the “Amended and Restated Credit
Agreement”).
	 
	(D)	 	As a consequence of the Amendment and Incremental Assumption Agreement and the
Amended and Restated Credit Agreement, the Parties agreed to amend the Quota Charge Agreement
and enter into this Agreement.

IT IS AGREED as follows:

	1.	 	DEFINITIONS AND INTERPRETATION

	1.1	 	Definitions

	 	 	In this Agreement:
	 
	 	 	“Quota Charge Agreement” means the quota charge agreement concluded in the form of a
notarial deed dated 29 January 2010, as amended on 4 May 2010, 16 November 2010 and 1
February 2011 between the Chargor and the Chargee.

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	1.2	 	Incorporation of defined terms

	 	(a)	 	Unless a contrary indication appears, a term defined in the First Lien
Intercreditor Agreement and in the Quota Charge Agreement has the same meaning in this
Agreement and in any notice given under this Agreement.
	 
	 	(b)	 	The principles of construction set out in the Quota Charge Agreement shall have
effect as if set out in this Agreement.

	1.3	 	Clauses

	 	 	In this Agreement any reference to a “Clause” or a “Schedule” is, unless the context
otherwise requires, a reference to a Clause or a Schedule to this Agreement.

	2.	 	AMENDMENTS TO THE QUOTA CHARGE AGREEMENT

	 	 	With effect from the date of this Agreement:

	 	(a)	 	The following new definitions shall be inserted in clause 1.1 (Definitions) of
the Quota Charge Agreement in alphabetical order:
	 
	 	 	 	““February 2011 Incremental Assumption and Amendment Agreement” means the amendment
no. 4 and incremental term loan assumption agreement dated 9 February 2011
entered into between, among others, Reynolds Group Holdings Inc., Reynolds
Consumer Products Holdings Inc., Closure Systems International Holdings Inc.,
SIG Euro Holding AG & Co KGaA, SIG Austria Holding GmbH, Pactiv Corporation
and Closure Systems International B.V. as borrowers, the Guarantors from time
to time party thereto (as defined therein), the Lenders from time to time
party thereto (as defined therein) and the Administrative Agent (as defined
therein), as amended, novated, supplemented, restated or modified from time to
time, the text of which is attached as Part VII of Schedule 3 (Incremental
Assumption and Amendment Agreement) to this Agreement.”
	 
	 	(b)	 	Schedule 3 of the Quota Charge Agreement shall be supplemented with Schedule A
(Part VII of Schedule 3 (February 2011 Incremental Assumption and Amendment Agreement))
of this Agreement.

	3.	 	REGISTRATION OF CHANGES
	 
	3.1	 	The Chargor shall file with the Court of Registration an extract of this Agreement,
attached as Schedule B (Form of the Extract of this Quota Charge Agreement) (the “Extract”)
within 10 (ten) Business Days of the date of this Agreement, in order to inform the Court of
Registration of the amendment of the Quota Charge Agreement.
	 
	3.2	 	The Parties hereby authorise Oppenheim Ügyvédi Iroda (1053 Budapest, Károlyi Mihály
u. 12., Hungary) to act before the Court of Registration in connection with the filing
(including but not limited to sign any documents in relation thereto) of the Extract with the
Court of Registration.

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	4.	 	CONTINUITY AND FURTHER ASSURANCE
	 
	4.1	 	Continuing obligations
	 
	 	 	The provisions of the Quota Charge Agreement shall, save as amended by this Agreement,
continue in full force and effect.

	4.2	 	Further assurance
	 
	 	 	The Chargor shall, at the reasonable request of the Chargee and at its own expense, do
all such acts and things necessary to give effect to the amendments effected or to be
effected pursuant to this Agreement.
	 
	5.	 	INCORPORATION OF TERMS
	 
	 	 	The provisions of clause 8 (Remedies and waivers), clause 9 (Severability), clause 13
(Notices) and clause 15 (Jurisdiction) of the Quota Charge Agreement shall be incorporated
into this Agreement as if set out in full in this Agreement and as if references in those
clauses to “this Agreement” are references to this Agreement.
	 
	6.	 	GOVERNING LAW
	 
	 	 	This Agreement is governed by Hungarian law.
	 
	7.	 	RIGHTS OF THE COLLATERAL AGENT
	 
	 	 	Notwithstanding anything contained herein, 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 accordingly each of the protections,
immunities, rights, indemnities and benefits conferred on the Collateral Agents under the
Quota Charge Agreement and the First Lien Intercreditor Agreement shall continue in full
force and effect and shall apply to this Agreement as if set out in full herein.

[Certification of the Public Notary and the related powers of attorney inserted]

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SCHEDULE A

“SCHEDULE 3

Part VII

February 2011 Incremental Assumption and Amendment Agreement”

(To Be Inserted)

- 5 -

 

SCHEDULE B

ÜZLETRÉSZ ZÁLOGSZERZŐDÉST MÓDOSÍTÓ SZERZŐDÉS KIVONATA

EXTRACT OF THE AMENDMENT TO THE QUOTA CHARGE AGREEMENT

a cégnyilvántartásról, a bírósági cégeljárásról és a végelszámolásról szóló 2006. évi V. törvény 2. számú melléklete

II. 1. ea) pontjának figyelembe vételével

with regard to the Clause II.1.ea) of Schedule No. 2 of the Act V of 2006 on Public Company Information,

Company Registration and Winding-up Proceedings

(a továbbiakban: “Kivonat”) amely az alábbi felek között készült Budapesten, 2011. február 9.
napján létrejött módosító szerződés (a továbbiakban: “Szerződés”) alapján:

(hereinafter referred to as the “Extract”), which has been prepared on the basis of the
amendment agreement entered into by and between the parties named below in Budapest on 9
February 2011 (hereinafter referred to as the “Agreement”):

	(1)	 	A Wilmington Trust (London) Limited, amelynek székhelye 6 Broad Street Place, London EC2M
7JH, Egyesült Királyság cím alatt található, képviseli __________________________,
meghatalmazás alapján,
	 
	(1)	 	Wilmington Trust (London) Limited, having its registered office at: 6
Broad Street Place, London EC2M 7JH, Egyesült Királyság, represented by
__________________________, under a power of attorney,
	 
	 	 	mint zálogjogosult (a továbbiakban: “Zálogjogosult”)
	 
	 	 	as chargee (hereinafter referred to as the “Chargee”),

valamint

and

	(2)	 	CLOSURE SYSTEMS INTERNATIONAL B.V., amelynek székhelye a Teleportboulevard 140, 1043 EJ
Amszterdam, Hollandia cím alatt található, és amelyet az amszterdami Kereskedelmi Kamaránál a
34291082-es számon tartanak nyilván, képviseli dr. Horvai-Hillenbrand Péter, meghatalmazás
alapján,
	 
	(2)	 	CLOSURE SYSTEMS INTERNATIONAL B.V. having its registered seat at Teleportboulevard
140, 1043 EJ Amsterdam, The Netherlands, registered with the Chamber of Commerce in Amsterdam
with registration number 34291082, represented by dr. Péter Horvai-Hillenbrand, under a power
of attorney,
	 
	 	 	mint zálogkötelezett (a továbbiakban: “Zálogkötelezett”)
	 
	 	 	as chargor (hereinafter referred to as the “Chargor”).

Fent nevezett felek a jelen Kivonatban az alábbiakat kívánják rögzíteni:

The parties named above wish to declare the following in the present Extract:

	1.	 	A Zálogkötelezett és a Zálogjogosult a 2010. január 29-én kelt zálogszerződéssel (a
“Zálogszerződés”) üzletrész zálogjogot alapítottak a Zálogjogosult javára Zálogkötelezettnek a
Closure Systems International Holdings (Hungary) Vagyonkezelő Korlátolt Felelősségű
Társaságban (székhelye: 8000 Székesfehérvár, Berényi út 72-

- 6 -

 

	 	 	100., Magyarország; cégjegyzékszáma
a Fejér Megyei Bíróság mint
Cégbíróságnál: Cg.07-09-015084, adószáma: 14216143-1-07, a továbbiakban: “Társaság”) fennálló
25.212.670.000,- Ft, azaz huszonötmilliárd-kettőszáztizenkettőmillió-hatszázhetvenezer forint
névértékű, a Társaság jegyzett tőkéjének 100%-át megtestesítő üzletrészén. A Zálogszerződést
a Zálogkötelezett és a Zálogjogosult 2010. május 4-én, 2010. november 16-án és 2011. február
1-jén módosította.
	 
	 	 	The Chargor and the Chargee created a quota charge in favour of the Chargee over the
quota of the Chargor held in Closure Systems International Holdings (Hungary) Vagyonkezelő
Korlátolt Felelősségű Társaság (registered seat: 8000 Székesfehérvár, Berényi út 72-100.,
Hungary, company registration number: Cg.07-09-015084 with the Fejér County Court as the
Court of Registration, tax number: 14216143-1-07, hereinafter referred to as the “Company”)
with a nominal value of HUF 25,212,670,000 (i.e. twenty-five billion two hundred and twelve
million six hundred and seventy thousand Forint) representing 100% of the Company’s
registered capital by virtue of the quota charge agreement dated 29 January 2010 (the “Quota
Charge Agreement”). The Quota Charge Agreement was amended by the Chargor and the Chargee on
4 May 2010, 16 November 2010 and 1 February 2011.
	 
	2.	 	A Zálogkötelezett és a Zálogjogosult a Szerződés rendelkezései alapján újból módosították a
Zálogszerződés rendelkezéseit azzal, hogy újabb mellékletet csatoltak a Zálogszerződéshez.
	 
	 	 	The Chargor and the Chargee have amended again the terms of the Quota Charge Agreement in
accordance with the provisions of the Agreement by attaching a further schedule to the Quota
Charge Agreement.
	 
	3.	 	Jelen Kivonat a Szerződés rendelkezései alapján — kizárólag a Zálogszerződés módosításának
cégbírósági bejelentése céljából — készült, és nem helyettesíti a felek között a Szerződésben
foglaltak szerint létrejött részletes megállapodást. A Szerződés és jelen Kivonat közötti
esetleges ellentmondás vagy eltérés esetén a Szerződés rendelkezései az irányadóak.
	 
	 	 	This Extract has been prepared on the basis of the terms and conditions set out in the
Agreement exclusively for the purpose of giving notice to the court of registration on the
amendment to the Quota Charge Agreement, and therefore, it may not substitute the detailed
agreement between the parties contemplated in the Agreement. In case of any discrepancy
between the Agreement and this Extract, the provisions of the Agreement shall prevail.
	 
	4.	 	Jelen Kivonat magyar és angol nyelven készült, a magyar és az angol nyelvű változat közötti
eltérés esetén a magyar nyelvű verzió az irányadó.
	 
	 	 	This Extract has been prepared in the Hungarian and English language. In the event of any
discrepancy between the Hungarian language and the English language versions, the Hungarian
language version shall prevail.
	 
	5.	 	A Zálogkötelezett és a Zálogjogosult meghatalmazzák az Oppenheim Ügyvédi Irodát (cím: 1053
Budapest, Károlyi Mihály u. 12.) hogy a Fejér Megyei Bíróságnál, mint Cégbíróságnál a Kivonat
benyújtásával kapcsolatban eljárjon (beleértve, de nem kizárólag bármely, ehhez kapcsolódó
dokumentum aláírását).

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	 	 	The Chargor and the Chargee hereby authorise Oppenheim Law Firm (address: 1053 Budapest,
Károlyi Mihály u. 12.) to act before the Fejér County Court as the Court of Registration in
connection with filing (including but not limited to sign any documents relating thereto)
this Extract.

Budapest, 2011. február 9./ 9 February 2011

	 	 	 

	 
	 	 
	 
	WILMINGTON TRUST (LONDON) LIMITED
	 	CLOSURE SYSTEMS INTERNATIONAL B.V.
	 
	Zálogjogosult / Chargee
	 	Zálogkötelezett / Chargor

- 8 -

 

SIGNATURES

Closure Systems International B.V. — as Chargor

By:

Wilmington Trust (London) Limited — as Chargee

By:

Closure Systems International Holdings (Hungary) Vagyonkezelő Korlátolt Felelősségű Társaság — as
Company

By:

- 9 -exv4w378

EXHIBIT 4.378

AMENDMENT AGREEMENT NO. 4

dated 9 February 2011

for

CLOSURE SYSTEMS INTERNATIONAL B.V.

as Chargor

and

WILMINGTON TRUST (LONDON) LIMITED

as Chargee

 

RELATING TO A

QUOTA CHARGE AGREEMENT

DATED 29 JANUARY 2010 AS AMENDED ON 4 MAY 2010,

16 NOVEMBER 2010 AND 1 FEBRUARY 2011

 

in respect of its Quota in CSI Hungary Gyártó és Kereskedelmi Korlátolt Felelősségű Társaság

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 AMENDMENT AGREEMENT (the “Agreement”) is made on 9 February 2011

BETWEEN:

	(1)	 	Closure Systems International B.V., a private company with limited liability incorporated
under the laws of The Netherlands, having its seat as at the date of this Agreement at
Teleportboulevard 140, 1043 EJ Amsterdam, The Netherlands, registered with the Chamber of
Commerce in Amsterdam, The Netherlands, under registration number 34291082, as owner of the
Quota (as defined below) and chargor under this Agreement (hereinafter referred to as the
“Chargor”);

	 	 	and

	(2)	 	Wilmington Trust (London) Limited, acting as chargee under this Agreement, in its capacity as
collateral agent acting on behalf and for the benefit of the Secured Parties (as defined
below), as appointed under the First Lien Intercreditor Agreement and authorised to represent
their joint and several rights in connection with this Agreement (hereinafter, with its
successors, permitted transferees and permitted assign in such capacity, referred to as the
“Collateral Agent” or the “Chargee”);

	 	 	(1) and (2) are together hereinafter referred to as the “Parties” and “Party” means any
of them, as the context may require.

This Agreement is hereby acknowledged and accepted by:

	(3)	 	CSI Hungary Gyártó és Kereskedelmi Korlátolt Felelősségű Társaság a limited liability company
(korlátolt felelosségu társaság) incorporated under the laws of Hungary, having its registered
seat as at the date of this Agreement at Berényi út 72-100., 8000 Székesfehérvár, Hungary,
registered with the Fejér County Court in Székesfehérvár, Hungary, under registration number:
Cg.07-09-013757, with tax identification number: 14122952-2-07 (hereinafter referred to as the
“Company”).

RECITALS:

	(A)	 	The Parties hereby declare that the Quota Charge Agreement (as defined below) was
originally concluded on 29 January 2010 between the Chargee and the Chargor, pursuant to both
(i) a credit agreement dated 5 November 2009 (as subsequently amended) between among others
Reynolds Group Holdings Inc., Reynolds Consumer Products Holdings Inc., Closure Systems
International Holdings Inc., SIG Euro Holding AG & Co KGaA, SIG Austria Holding GmbH, Pactiv
Corporation, Closure Systems International BV, the other borrowers party thereto, the lenders
from time to time parties thereto, and Credit Suisse AG (formerly known as Credit Suisse) as
administrative agent (the “Credit Agreement”) and (ii) an indenture dated 5 November 2009
between, among others, Reynolds Group Escrow LLC, Reynolds Group DL Escrow Inc. and The Bank
of New York Mellon, as trustee, principal paying agent, transfer agent and registrar, as
modified, amended or supplemented from time to time (the “2009 Indenture”), and the Quota
Charge Agreement was amended on 16 November 2010 pursuant to an indenture dated 15 October
2010 between, among others, RGHL US Escrow I Inc., RGHL US Escrow I

- 1 -

 

	 	 	LLC and RGHL Escrow Issuer
(Luxembourg) I S.A. 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 “2010 Indenture”)
and the Quota Charge Agreement was further amended on 1 February 2011 pursuant to an
indenture dated 1 February 2011 between, among others, Reynolds Group Issuer LLC, Reynolds
Group Issuer Inc. and Reynolds Group Issuer (Luxembourg) S.A. as 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 (the “February
2011 Secured Notes Indenture”).

	(B)	 	In connection with the Credit Agreement, the 2009 Indenture, the 2010 Indenture and
the February 2011 Secured Notes Indenture certain parties have entered into a first lien
intercreditor agreement dated 5 November 2009 between, among others, The Bank of New York
Mellon as trustee under the 2009 Indenture, Credit Suisse AG as representative under the
Credit Agreement and each grantor that are parties thereto, as subsequently amended by
Amendment No. 1 and Joinder Agreement dated 21 January 2010, which added the Collateral Agent
as a collateral agent under the First Lien Intercreditor Agreement (the “First Lien
Intercreditor Agreement”).

	(C)	 	Pursuant to an amendment no. 4 and incremental term loan assumption agreement (the
“Amendment and Incremental Assumption Agreement”) dated on or about the date of this Agreement
and entered into between, among others Reynolds Group Holdings Inc., Reynolds Consumer
Products Holdings Inc., Closure Systems International Holdings Inc., SIG Euro Holding AG & Co
KGaA, SIG Austria Holding GmbH, Pactiv Corporation, Closure Systems International B.V., the
other borrowers party thereto, the lenders from time to time party thereto and Credit Suisse
AG (formerly known as Credit Suisse) as administrative agent, the Credit Agreement has been
amended and restated in the form of Annex A thereto (the “Amended and Restated Credit
Agreement”).

	(D)	 	As a consequence of the Amendment and Incremental Assumption Agreement and the
Amended and Restated Credit Agreement, the Parties agreed to amend the Quota Charge Agreement
and enter into this Agreement.

IT IS AGREED as follows:

	1.	 	DEFINITIONS AND INTERPRETATION

	1.1	 	Definitions

	 	 	In this Agreement:

	 	 	“Quota Charge Agreement” means the quota charge agreement concluded in the form of a
notarial deed dated 29 January 2010, as amended on 4 May 2010, 16 November 2010 and 1
February 2011 between the Chargor and the Chargee.

- 2 -

 

	1.2	 	Incorporation of defined terms

	 	(a)	 	Unless a contrary indication appears, a term defined in the First Lien
Intercreditor Agreement and in the Quota Charge Agreement has the same meaning in this
Agreement and in any notice given under this Agreement.

	 	(b)	 	The principles of construction set out in the Quota Charge Agreement shall have
effect as if set out in this Agreement.

	1.3	 	Clauses

	 	 	In this Agreement any reference to a “Clause” or a “Schedule” is, unless the context
otherwise requires, a reference to a Clause or a Schedule to this Agreement.

	2.	 	AMENDMENTS TO THE QUOTA CHARGE AGREEMENT

	 	 	With effect from the date of this Agreement:

	 	(a)	 	The following new definitions shall be inserted in clause 1.1 (Definitions) of
the Quota Charge Agreement in alphabetical order:
	 
	 	 	 	““February 2011 Incremental Assumption and Amendment Agreement” means the amendment
no. 4 and incremental term loan assumption agreement dated 9 February 2011
entered into between, among others, Reynolds Group Holdings Inc., Reynolds
Consumer Products Holdings Inc., Closure Systems International Holdings Inc.,
SIG Euro Holding AG & Co KGaA, SIG Austria Holding GmbH, Pactiv Corporation
and Closure Systems International B.V. as borrowers, the Guarantors from time
to time party thereto (as defined therein), the Lenders from time to time
party thereto (as defined therein) and the Administrative Agent (as defined
therein), as amended, novated, supplemented, restated or modified from time to
time, the text of which is attached as Part VII of Schedule 3 (Incremental
Assumption and Amendment Agreement) to this Agreement.”

	 	(b)	 	Schedule 3 of the Quota Charge Agreement shall be supplemented with Schedule A
(Part VII of Schedule 3 (February 2011 Incremental Assumption and Amendment Agreement))
of this Agreement.

	3.	 	REGISTRATION OF CHANGES

	3.1	 	The Chargor shall file with the Court of Registration an extract of this Agreement,
attached as Schedule B (Form of the Extract of this Quota Charge Agreement) (the “Extract”)
within 10 (ten) Business Days of the date of this Agreement, in order to inform the Court of
Registration of the amendment of the Quota Charge Agreement.

	3.2	 	The Parties hereby authorise Oppenheim Ügyvédi Iroda (1053 Budapest, Károlyi Mihály
u. 12., Hungary) to act before the Court of Registration in connection with the filing
(including but not limited to sign any documents in relation thereto) of the Extract with the
Court of Registration.

- 3 -

 

	4.	 	CONTINUITY AND FURTHER ASSURANCE

	4.1	 	Continuing obligations

	 	 	The provisions of the Quota Charge Agreement shall, save as amended by this Agreement,
continue in full force and effect.

	4.2	 	Further assurance

	 	 	The Chargor shall, at the reasonable request of the Chargee and at its own expense, do
all such acts and things necessary to give effect to the amendments effected or to be
effected pursuant to this Agreement.

	5.	 	INCORPORATION OF TERMS

	 	 	The provisions of clause 8 (Remedies and waivers), clause 9 (Severability), clause 13
(Notices) and clause 15 (Jurisdiction) of the Quota Charge Agreement shall be incorporated
into this Agreement as if set out in full in this Agreement and as if references in those
clauses to “this Agreement” are references to this Agreement.

	6.	 	GOVERNING LAW

	 	 	This Agreement is governed by Hungarian law.

	7.	 	RIGHTS OF THE COLLATERAL AGENT

	 	 	Notwithstanding anything contained herein, 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 accordingly each of the protections,
immunities, rights, indemnities and benefits conferred on the Collateral Agents under the
Quota Charge Agreement and the First Lien Intercreditor Agreement shall continue in full
force and effect and shall apply to this Agreement as if set out in full herein.

[Certification of the Public Notary and the related powers of attorney inserted]

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SCHEDULE A

“SCHEDULE 3

Part VII

February 2011 Incremental Assumption and Amendment Agreement”

(To Be Inserted)

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SCHEDULE B

ÜZLETRÉSZ ZÁLOGSZERZŐDÉST MÓDOSÍTÓ SZERZŐDÉS KIVONATA

EXTRACT OF THE AMENDMENT TO THE QUOTA CHARGE AGREEMENT

a cégnyilvántartásról, a bírósági cégeljárásról és a végelszámolásról szóló 2006. évi V. törvény 2.

számú melléklete II. 1. ea) pontjának figyelembe vételével

with regard to the Clause II.1.ea) of Schedule No. 2 of the Act V of 2006 on Public Company

Information, Company Registration and Winding-up Proceedings

(a továbbiakban: “Kivonat”) amely az alábbi felek között készült Budapesten, 2011. február 9.
napján létrejött módosító szerződés (a továbbiakban: “Szerződés”) alapján:

(hereinafter referred to as the “Extract”), which has been prepared on the basis of the
amendment agreement entered into by and between the parties named below in Budapest on 9 February
2011 (hereinafter referred to as the “Agreement”):

	(1)	 	A Wilmington Trust (London) Limited, amelynek székhelye 6 Broad Street Place, London EC2M
7JH, Egyesült Királyság cím alatt található, képviseli __________________________,
meghatalmazás alapján,

	(1)	 	Wilmington Trust (London) Limited, having its registered office at: 6
Broad Street Place, London EC2M 7JH, Egyesült Királyság, represented by
__________________________, under a power of attorney,

	 	 	mint zálogjogosult (a továbbiakban: “Zálogjogosult”)

	 	 	as chargee (hereinafter referred to as the “Chargee”),

valamint

and

	(2)	 	CLOSURE SYSTEMS INTERNATIONAL B.V., amelynek székhelye a Teleportboulevard 140, 1043 EJ
Amszterdam, Hollandia cím alatt található, és amelyet az amszterdami Kereskedelmi Kamaránál a
34291082-es számon tartanak nyilván, képviseli dr. Horvai-Hillenbrand Péter, meghatalmazás
alapján,

	(2)	 	CLOSURE SYSTEMS INTERNATIONAL B.V. having its registered seat at Teleportboulevard
140, 1043 EJ Amsterdam, The Netherlands, registered with the Chamber of Commerce in Amsterdam
with registration number 34291082, represented by dr. Péter Horvai-Hillenbrand, under a power
of attorney,

	 	 	mint zálogkötelezett (a továbbiakban: “Zálogkötelezett”)

	 	 	as chargor (hereinafter referred to as the “Chargor”).

Fent nevezett felek a jelen Kivonatban az alábbiakat kívánják rögzíteni:

The parties named above wish to declare the following in the present Extract:

	1.	 	A Zálogkötelezett és a Zálogjogosult a 2010. január 29-én kelt zálogszerzodéssel (a
“Zálogszerződés”) üzletrész zálogjogot alapítottak a Zálogjogosult javára Zálogkötelezettnek a
CSI Hungary Gyártó és Kereskedelmi Korlátolt Felelősségu Társaságban (székhelye: 8000
Székesfehérvár, Berényi út 72-100., Magyarország;

- 6 -

 

	 	 	cégjegyzékszáma a Fejér Megyei Bíróság mint
Cégbíróságnál: Cg. 07-09-013757,
adószáma: 14122952-1-07, a továbbiakban: “Társaság”) fennálló 1.246.180.000,- Ft, azaz
egymilliárd-kétszáznegyvenhatmillió-egyszáznyolcvanezer forint névértéku, a Társaság jegyzett
tokéjének 100%-át megtestesíto üzletrészén. A Zálogszerzodést a Zálogkötelezett és a
Zálogjogosult 2010. május 4-én, 2010. november 16-án és 2011. február 1-jén módosította.

	 	 	The Chargor and the Chargee created a quota charge in favour of the Chargee over the
quota of the Chargor held in CSI Hungary Gyártó és Kereskedelmi Korlátolt Felelősségű
Társaság (registered seat: 8000 Székesfehérvár, Berényi út 72-100., Hungary, company
registration number: Cg. 07-09-013757 with the Fejér County Court as the Court of
Registration, tax number: 14122952-1-07, hereinafter referred to as the “Company”) with a
nominal value of HUF 1,246,180,000 (i.e. one billion two hundred fourty six million one
hundred and eighty thousand Forint) representing 100% of the Company’s registered capital by
virtue of the quota charge agreement dated 29 January 2010 (the “Quota Charge Agreement”).
The Quota Charge Agreement was amended by the Chargor and the Chargee on 4 May 2010, 16
November 2010 and 1 February 2011.

	2.	 	A Zálogkötelezett és a Zálogjogosult a Szerzodés rendelkezései alapján újból módosították a
Zálogszerzodés rendelkezéseit azzal, hogy újabb mellékletet csatoltak a Zálogszerzodéshez.

	 	 	The Chargor and the Chargee have amended again the terms of the Quota Charge Agreement in
accordance with the provisions of the Agreement by attaching a further schedule to the Quota
Charge Agreement.

	3.	 	Jelen Kivonat a Szerzodés rendelkezései alapján — kizárólag a Zálogszerzodés módosításának
cégbírósági bejelentése céljából — készült, és nem helyettesíti a felek között a Szerzodésben
foglaltak szerint létrejött részletes megállapodást. A Szerzodés és jelen Kivonat közötti
esetleges ellentmondás vagy eltérés esetén a Szerzodés rendelkezései az irányadóak.

	 	 	This Extract has been prepared on the basis of the terms and conditions set out in the
Agreement exclusively for the purpose of giving notice to the court of registration on the
amendment to the Quota Charge Agreement, and therefore, it may not substitute the detailed
agreement between the parties contemplated in the Agreement. In case of any discrepancy
between the Agreement and this Extract, the provisions of the Agreement shall prevail.

	4.	 	Jelen Kivonat magyar és angol nyelven készült, a magyar és az angol nyelvu változat közötti
eltérés esetén a magyar nyelvu verzió az irányadó.

	 	 	This Extract has been prepared in the Hungarian and English language. In the event of any
discrepancy between the Hungarian language and the English language versions, the Hungarian
language version shall prevail.

	5.	 	A Zálogkötelezett és a Zálogjogosult meghatalmazzák az Oppenheim Ügyvédi Irodát (cím: 1053
Budapest, Károlyi Mihály u. 12.) hogy a Fejér Megyei Bíróságnál, mint Cégbíróságnál a Kivonat
benyújtásával kapcsolatban eljárjon (beleértve, de nem kizárólag bármely, ehhez kapcsolódó
dokumentum aláírását).

- 7 -

 

	 	 	The Chargor and the Chargee hereby authorise Oppenheim Law Firm (address: 1053 Budapest,
Károlyi Mihály u. 12.) to act before the Fejér County Court as the Court of Registration in
connection with filing (including but not limited to sign any documents relating thereto)
this Extract.

Budapest, 2011. február 9. / 9 February 2011

	 	 	 	 	 

	 

	 	 

	 	 
	 
	 	 	 	 
	WILMINGTON TRUST (LONDON) LIMITED

	 	CLOSURE SYSTEMS
INTERNATIONAL B.V.	 	 
	 
	 	 	 	 
	Zálogjogosult / Chargee

	 	Zálogkötelezett / Chargor	 	 

- 8 -

 

SIGNATURES

Closure Systems International B.V. — as Chargor

By:

Wilmington Trust (London) Limited — as Chargee

By:

CSI Hungary Gyártó és Kereskedelmi Korlátolt Felelősségű Társaság — as Company

By:

- 9 -

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