Document:

exv4w407

			
	 
	 	EXHIBIT 4.407
	 	 	 

SIG COMBIBLOC GROUP AG

SIG REINAG AG

as Pledgors

and

THE BANK OF NEW YORK MELLON

as Collateral Agent and Pledgee

 

JUNIOR SHARE AND PARTNERSHIP

INTEREST PLEDGE AGREEMENT

relating to the shares (Verpfändung von Aktien) and interests

(Verpfändung Komplementäranteile) in SIG EURO HOLDING AG

& CO. KGAA

 

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

 

 

Contents

	 	 	 	 	 
	Clause	 	Page	 
	1. Definitions and Language
	 	 	3	 
	2. Pledged Shares
	 	 	11	 
	3. Pledge
	 	 	11	 
	4. Scope of the Pledges
	 	 	13	 
	5. Purpose of the Pledges
	 	 	15	 
	6. Exercise of Membership Rights
	 	 	15	 
	7. Enforcement of the Pledges
	 	 	15	 
	8. Swiss Limitations
	 	 	20	 
	9. Undertakings of the Pledgors
	 	 	22	 
	10. Delegation
	 	 	25	 
	11. Indemnity
	 	 	25	 
	12. No liability
	 	 	25	 
	13. Duration and Independence
	 	 	25	 
	14. Release (Pfandfreigabe)
	 	 	26	 
	15. Partial Invalidity; Waiver
	 	 	26	 
	16. Amendments
	 	 	27	 
	17. Notices and their Language
	 	 	27	 
	18. Applicable Law, Jurisdiction
	 	 	28	 
	19. Conclusion of this Agreement (Vertragsschluss)
	 	 	29	 
	Schedule 1 The Current Borrowers, the Current Guarantors, the Current
Senior Secured Notes Guarantors, the Current October 2010 Secured
Notes Guarantors and the Original February 2011 Secured Notes
Guarantors
	 	 	30	 
	Part I — The Current Borrowers
	 	 	30	 
	Part II — The Current Guarantors
	 	 	30	 
	Part III — The Current Senior Secured Notes Guarantors
	 	 	35	 
	Part IV — The Current October 2010 Secured Notes Guarantors
	 	 	39	 
	Part V — The Original February 2011 Secured Notes Guarantors
	 	 	43	 
	Schedule 2 Copy of Approval and Consent
	 	 	48	 
	Signature Pages
	 	 	49	 

 

 

This Junior Share and Partnership Interest Pledge Agreement (this “Agreement”) is made on 2 March
2011

BETWEEN:

	(1)	 	SIG Reinag AG, a company limited by shares (Aktiengesellschaft) incorporated under the laws
of Switzerland, having its registered office at Laufengasse 18, CH-8212 Neuhausen am
Rheinfall, Switzerland and registered in the Commercial Register of the Canton of Schaffhausen
with the federal register number CH-290.3.003.796-7 (“Pledgor 1”);
	 
	(2)	 	SIG Combibloc Group AG, a stock corporation (Aktiengesellschaft) organised under the laws of
Switzerland having its business address at Laufengasse 18, CH-8212 Neuhausen am Rheinfall,
Switzerland, and registered in the commercial register (Handelsregister) of the Canton of
Schaffhausen under the federal register number CH-290.3.004.149-2 (“Pledgor 2” and together
with Pledgor 1 the “Pledgors” and each a “Pledgor”); and
	 
	(3)	 	The Bank of New York Mellon, having its business address at 1 Wall Street, New York, N.Y.
10286, The United States of America, in its capacity as collateral agent under the First Lien
Intercreditor Agreement (as defined below) (the “Collateral Agent” or the “Pledgee”).

WHEREAS:

	(A)	 	Pursuant to a multi-currency term and revolving credit agreement dated 5 November 2009 (as
amended and/or restated by the Amendment No.1 (as defined below), by the Amendment No. 2 and
Incremental Term Loan Assumption Agreement (as defined below), by the Amendment No. 3 and
Incremental Term Loan Assumption Agreement (as defined below) and by the Amendment No. 4 and
Incremental Term Loan Assumption Agreement (as defined below)) between, inter alia, the
parties listed in Schedule 1Part I hereto as current borrowers (the “Current Borrowers”), the
parties listed in Schedule 1Part II hereto as current guarantors (the “Current Guarantors”),
Credit Suisse AG, Cayman Islands Branch (formerly Credit Suisse, Cayman Islands Branch) as
administrative agent and others (the “Original Credit Agreement” and/or the “Credit
Agreement”), certain lenders (together the “Original Lenders”) have granted certain facilities
to the Current Borrowers and certain other entities which may accede or may have acceded to
the Original Credit Agreement as additional borrowers.
	 
	(B)	 	Pursuant to a senior secured notes indenture dated 5 November 2009 between, inter alia,
Reynolds Group Issuer LLC, Reynolds Group Issuer Inc., and Reynolds Group Issuer (Luxembourg)
S.A as issuers (the “Issuers”), certain affiliates of the Issuers listed in of Schedule
1Part III as current senior secured notes guarantors (the “Current

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	 	 	Senior Secured Notes Guarantors”) and The Bank of New York Mellon, as indenture
trustee, principal paying agent, transfer agent and registrar, (as amended, varied, novated,
supplemented, superseded or extended from time to time, the “Senior Secured Notes
Indenture”), the Issuers have issued senior secured notes due 2016 in the aggregate
principal amount of USD 1,125,000,000 (the “US Secured Notes”) and senior secured notes due
2016 in the aggregate principal amount of EUR 450,000,000 (the “Euro Secured Notes” and
together with the US Secured Notes the “Senior Secured Notes”) to certain noteholders.
	 
	(C)	 	Pursuant to a senior secured notes indenture dated 15 October 2010 between, inter alia, RGHL
Issuer I LLC, RGHL Issuer I Inc., and RGHL Issuer (Luxembourg) I S.A. as escrow issuers (the
“Escrow Issuers”), The Bank of New York Mellon as indenture trustee, The Bank of New York
Mellon, London Branch as principal paying agent, The Bank of New York Mellon as Collateral
Agent and Wilmington Trust (London) Limited as collateral agent (as amended, varied, novated,
supplemented, superseded or extended from time to time, the “October 2010 Secured Notes
Indenture”), the Escrow Issuers have issued secured notes due 2019 in the aggregate principal
amount of USD 1,500,000,000 in escrow (the “October 2010 Secured Notes”). In connection with
the release from escrow of the proceeds of the October 2010 Secured Notes, which occurred on
16 November 2010, the Escrow Issuers were merged with and into the Issuers, with each of the
Issuers surviving the applicable mergers or other transfers and assuming by operation of law
the obligations of the applicable Escrow Issuers with respect to the October 2010 Secured
Notes Indenture and the October 2010 Secured Notes. Certain affiliates of the Issuers listed
in Part IV of Schedule 1 have acceded to the October 2010 Secured Notes Indenture as
guarantors (the “Current October 2010 Secured Notes Guarantors”).
	 
	(D)	 	Pursuant to a senior secured notes indenture dated 1 February 2011 between, inter alia, the
Issuers, The Bank of New York Mellon as indenture trustee, The Bank of New York Mellon, London
Branch as principal paying agent, The Bank of New York Mellon as Collateral Agent and
Wilmington Trust (London) Limited as collateral agent (as amended, varied, novated,
supplemented, superseded or extended from time to time, the “February 2011 Secured Notes
Indenture”), the Issuers have issued secured notes due 2021 in the aggregate principal amount
of USD 1,000,000,000 (the “February 2011 Secured Notes”) which are guaranteed by certain
affiliates of the Issuers listed in Schedule 1Part V as original February 2011 secured notes
guarantors (the “Original February 2011 Secured Notes Guarantors”).
	 
	(E)	 	Pledgor 1 has entered into the Existing Interest Pledge Agreement (as defined below) and
Pledgor 2 has entered into the Existing Share Pledge Agreement (as defined below).
	 
	(F)	 	As a result of the amendment No. 4 and incremental term loan assumption agreement dated 9
February 2011 relating to the Original Credit Agreement between, inter alia,

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	 	 	the Current Borrowers, the Current Guarantors, Credit Suisse AG, Cayman Islands Branch
(formerly Credit Suisse, Cayman Islands Branch) as administrative agent and others (the
“Amendment No. 4 and Incremental Term Loan Assumption Agreement”) the Original Credit
Agreement (the “Amended Credit Agreement”), inter alia, includes new incremental term
facilities (the “Amendments”).
	 
	(G)	 	Each Pledgor has agreed to grant an additional pledge (subject to the pledges arising under
the Existing Pledge Agreements (as defined below) to which it is a party) over its GP
Interests (as defined below) or, as the case may be, Shares (as defined below) in the Company
(as defined below) as security for the Pledgee’s claims against the Grantors (as defined
below) (or any of them) in respect of the Obligations (as defined below).
	 
	(H)	 	The security created by or pursuant to this Agreement is to be administered by the Collateral
Agent for the Secured Parties (as defined below) pursuant to a first lien intercreditor
agreement dated 5 November 2009 (as amended by the Amendment No. 1 and Joinder Agreement (as
defined below)) between, inter alia, the Collateral Agent, the Indenture Trustee, the
Administrative Agent and the Grantors (each as defined below) and others (as amended, varied,
novated, supplemented, superseded or extended from time to time, the “First Lien Intercreditor
Agreement”).
	 
	(I)	 	SIG Austria Holding GmbH is the owner of 9,499 (in words: nine thousand four hundred ninety
nine) shares in the Company, Nos. 1-9,499, which are represented by a global share certificate
(the “Existing Share Certificate 2”).
	 
	(J)	 	Pledgor 2 and SIG Austria Holding GmbH as sole shareholders (Aktionäre) of the Company have
approved and consented to the Pledge 2 (as defined below) in a resolution of the shareholders
(Hauptversammlungsbeschluss) a copy of which is attached hereto as Schedule 2.

NOW, IT IS AGREED as follows:

	1.	 	DEFINITIONS AND LANGUAGE
	 
	1.1	 	Definitions
	 
	 	 	In this Agreement:
	 
	 	 	“Administrative Agent” means Credit Suisse AG Cayman Islands Branch, having its business
address at Eleven Madison Avenue, New York, NY 10010, United States of America in its
capacity as administrative agent under the Credit Agreement and any successor appointed as
administrative agent under the Credit Agreement.
	 
	 	 	“Amendment No. 1” means the amendment agreement dated 21 January 2010 relating to the Credit
Agreement between, inter alia, the borrowers and the guarantors under the Credit Agreement
as of such date, the Administrative Agent and others.

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	 	 	“Amendment No.1 and Joinder Agreement” means the joinder agreement dated 21 January
2010 relating to the First Lien Intercreditor Agreement made among (amongst others) the
Collateral Agent, Wilmington Trust (London) Limited, Credit Suisse AG and Reynolds Group
Holdings Limited pursuant to which Wilmington Trust (London) Limited is appointed as
additional collateral agent and became party to the First Lien Intercreditor Agreement.
	 
	 	 	“Amendment No. 2 and Incremental Term Loan Assumption Agreement” means the amendment and
incremental term loan assumption agreement dated 4 May 2010 relating to the Credit Agreement
between, inter alia, the borrowers and the guarantors under the Credit Agreement as of such
date, the Administrative Agent and others.
	 
	 	 	“Amendment No. 3 and Incremental Term Loan Assumption Agreement” means the amendment and
incremental term loan assumption agreement dated 30 September 2010 relating to the Credit
Agreement between, inter alia, the borrowers and the guarantors under the Credit Agreement
as of such date, the Administrative Agent and others.
	 
	 	 	“Borrowers” means the Current Borrowers and any entity which may accede to the Credit
Agreement as an additional borrower and “Borrower” means any of them.
	 
	 	 	“Cash Management Bank” shall mean Citibank N.A., Banco Nacional De Mexico S.A., Citibank
International PLC, UK, Citibank (China) Co., Limited, Citibank Global Markets Deutschland AG
& Co KGaA, Citibank ZRT, Hungary, a Lender, the Administrative Agent or any of the Lender’s
or the Administrative Agent’s affiliates (at the time the cash management services
arrangement is entered into) provided in each case it has become a party to, or by execution
of an additional bank secured party acknowledgment has agreed to be bound by the terms of,
the First Lien Intercreditor Agreement in its capacity as cash management bank.
	 
	 	 	“Cash Management Services” shall mean any agreement or arrangement by a Cash Management Bank
to provide any composite accounting or other cash pooling arrangements and netting,
overdraft protection and other arrangements with any bank arising under standard business
terms of such Cash Management Bank to a Grantor.
	 
	 	 	“Company” means SIG Euro Holding AG & Co. KGaA, an association limited by shares
(Kommanditgesellschaft auf Aktien) organised under the laws of the Federal Republic of
Germany having its business address at Weilheimer Str. 5, 79761 Waldshut-Tiengen, Germany,
and registered in the commercial register (Handelsregister) of the local court (Amtsgericht)
of Freiburg i.Br. under HRB 621259.
	 
	 	 	“Credit Documents” shall mean the Loan Documents, the Senior Secured Notes Documents, the
October 2010 Secured Notes Documents and the February 2011 Secured Notes Documents.

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	 	 	“Enforcement Event” shall mean an Event of Default.
	 
	 	 	“Event of Default” means any event of default (Kündigungsgrund) under the Credit Agreement
and/or the Senior Secured Notes Indenture and/or the October 2010 Secured Notes Indenture
and/or the February 2011 Notes Indenture.
	 
	 	 	“Existing GP Interests” has the meaning given to such term in sub-Clause 2.1 hereof.
	 
	 	 	“Existing Intercreditor Agreement” means the existing intercreditor agreement dated 11 May
2007 (as amended by a letter dated 21 June 2007 and a further letter dated 29 June 2007, as
amended and restated on 5 November 2009 and as further amended on 5 November 2010) between,
inter alia, Beverage Packaging Holdings (Luxembourg) I S.A., Rank Group Holdings Limited
(now Reynolds Group Holdings Limited), Beverage Packaging Holdings (Luxembourg) II S.A.,
Beverage Packaging Holdings (Luxembourg) III S.à r.l., Credit Suisse AG (formerly Credit
Suisse) as security trustee and others.
	 
	 	 	“Existing Interest Pledge Agreement” means:

	 	(a)	 	the interest pledge agreement dated 29 January 2010 (as amended by a
confirmation and amendment agreement dated 4 May 2010 (the “Interest Pledge
Confirmation and Amendment Agreement”)) entered into between SIG Reinag AG as Pledgor,
The Bank of New York Mellon as collateral agent and pledgee and others as pledgees;
	 
	 	(b)	 	the Interest Pledge Confirmation and Amendment Agreement; and
	 
	 	(c)	 	the junior share and partnership interest pledge agreement dated 16 November
2010 entered into between SIG Combibloc Group AG and SIG Reinag AG as pledgors and The
Bank of New York Mellon as collateral agent and pledgee (the “October 2010 Share and
Partnership Interest Pledge Agreement”).

	 	 	“Existing Pledge Agreements” means the Existing Interest Pledge Agreement and the Existing
Share Pledge Agreement.
	 
	 	 	“Existing Share Certificate 1” has the meaning given to such term in sub-Clause 2.4 hereof.
	 
	 	 	“Existing Share Certificate 2” has the meaning given to such term in Preamble (I).
	 
	 	 	“Existing Share Certificates” means the Existing Share Certificate 1 and the Existing Share
Certificate 2.
	 
	 	 	“Existing Share Pledge Agreement” means:

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	 	(a)	 	the share pledge agreement dated 5 November 2009 (as amended by a confirmation and
amendment agreement dated 4 May 2010 (the “Share Pledge Confirmation and Amendment
Agreement”)) entered into between SIG Combibloc Group AG as pledgor and The Bank of New York
Mellon as collateral agent and pledgee;
	 
	 	(b)	 	the Share Pledge Confirmation and Amendment Agreement; and
	 
	 	(c)	 	the October 2010 Share and Partnership Interest Pledge Agreement.

	 	 	“Existing Shares” has the meaning given to such term in sub-Clause 2.4 hereof.
	 
	 	 	“February 2011 Secured Notes Documents” shall mean the February 2011 Secured Notes
Indenture, the February 2011 Secured Notes Guarantees, the February 2011 Secured Notes, the
Intercreditor Arrangements, any security document relating to the February 2011 Secured
Notes and/or the February 2011 Secured Notes Indenture and any other document that may be
entered into pursuant to any of the foregoing.
	 
	 	 	“February 2011 Secured Notes Guarantees” shall mean the guarantees of the obligations of the
Issuers under the February 2011 Secured Notes and the February 2011 Secured Notes Indenture
by the February 2011 Secured Notes Guarantors.
	 
	 	 	“February 2011 Secured Notes Guarantors” means the Original February 2011 Secured Notes
Guarantors and any entity which may accede to the February 2011 Secured Notes Indenture as
additional guarantor.
	 
	 	 	“February 2011 Secured Notes Holders” shall mean the holders from time to time of the
February 2011 Secured Notes.
	 
	 	 	“February 2011 Secured Notes Indenture Trustee” shall mean The Bank of New York Mellon, in
its capacity as indenture trustee under the February 2011 Secured Notes Indenture and any
successor appointed as indenture trustee under the February 2011 Secured Notes Indenture.
	 
	 	 	“Future Shares” means any and all shares in the Company in whatever nominal value which
Pledgor 2 may hold in the future other than the Existing Shares (arising from a split of
shares, purchase of shares in the context of the mandatory public offer or otherwise).
	 
	 	 	“Future GP Interests” means the Existing GP Interests of Pledgor 1 in existence from time to
time (including following a further contribution (Einlage) or an increase of the special
contribution (Sondereinlage) in the capital of the Company (if any)).
	 
	 	 	“GP Interests” means the Existing GP Interests and the Future GP Interests.

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	 	 	“Grantors” means the Loan Parties, the Issuers, the Senior Secured Notes Guarantors, the
October 2010 Secured Notes Guarantors and the February 2011 Secured Notes Guarantors and any
person that has granted a security interest to the Collateral Agent and/or the Secured
Parties in respect of the obligations of the Loan Parties, the Issuers and the Senior
Secured Notes Guarantors under the Credit Documents and “Grantor” means any of them.
	 
	 	 	“Group” means Reynolds Group Holdings Limited and its direct or indirect subsidiaries
(Tochtergesellschaften).
	 
	 	 	“Hedge Counterparty” means a Lender, the Administrative Agent or any of the Lender’s or the
Administrative Agent’s affiliates (at the time a hedging agreement is entered into) who has
entered into a hedging agreement for the purpose of hedging interest rate liabilities and/or
any exchange rate and/or commodity price risks provided it has become a party, or by
execution of an additional bank secured party acknowledgment has agreed to be bound by the
terms of, to the First Lien Intercreditor Agreement in its capacity as hedge counterparty.
	 
	 	 	“Incremental Assumption Agreement” shall mean an incremental assumption agreement relating
to incremental facilities of up to USD 750,000,000 among, and in form and substance
reasonably satisfactory to, one or more Borrowers, the Administrative Agent, one or more
Incremental Term Lenders and/or one or more Incremental Revolving Credit Lenders pursuant to
which one or more Incremental Term Lenders make available Incremental Term Loan Commitments
and/or one or more Incremental Revolving Credit Lenders make available Incremental Revolving
Credit Commitments respectively.
	 
	 	 	“Incremental Revolving Credit Lender” shall mean a Lender with an Incremental Revolving
Credit Commitment or an outstanding revolving loan under the Credit Agreement of any class
as a result of an Incremental Revolving Credit Commitment.
	 
	 	 	“Incremental Revolving Credit Commitment” shall mean the commitment of any Lender,
established pursuant to the Credit Agreement, to make available certain revolving credit
loans to one or more Borrowers.
	 
	 	 	“Incremental Term Lender” shall mean a Lender with an Incremental Term Loan Commitment.
	 
	 	 	“Incremental Term Loan Commitment” shall mean the commitment of any Lender, established
pursuant to the Credit Agreement, to make available certain term loans to one or more
Borrowers.
	 
	 	 	“Indenture Trustee” shall mean The Bank of New York Mellon, in its capacity as indenture
trustee under the Senior Secured Notes Indenture and any successor appointed as indenture
trustee under the Senior Secured Notes Indenture.

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	 	 	“Intercreditor Arrangements” means the First Lien Intercreditor Agreement and the Existing
Intercreditor Agreement, in each case as amended, novated, supplemented, restated, or
modified from time to time.
	 
	 	 	“Issuing Bank” means Credit Suisse AG or any other Lender or any affiliate of Credit Suisse
AG or any other Lender that issues letters of credit or bank guarantees under the Credit
Agreement.
	 
	 	 	“Lenders” shall mean the Original Lenders and any entity which has become a lender under the
Credit Agreement or may become a lender under the Credit Agreement in the future and
“Lender” means any of them.
	 
	 	 	“Loan Documents” shall mean the Credit Agreement, the Amendment No. 1 and Joinder Agreement,
the Amendment No. 1, the Amendment No. 2 and Incremental Term Loan Assumption Agreement, the
Amendment No. 3 and Incremental Term Loan Assumption Agreement, the Amendment No. 4 and
Incremental Term Loan Assumption Agreement, any borrowing subsidiary agreement and/or
guarantor joinder agreement relating to the Credit Agreement, any letter of credit or bank
guarantee relating to the Credit Agreement, any security documents relating to the Credit
Agreement, any hedging agreement entered into by a Hedge Counterparty and a Grantor, each
Incremental Assumption Agreement, the Intercreditor Arrangements, each Promissory Note, any
agreement between a Grantor and a Cash Management Bank relating to Cash Management Services,
each Local Facility Agreement and any other document that may be entered into pursuant to
any of the foregoing in relation to the Credit Agreement.
	 
	 	 	“Loan Parties” shall mean the Borrowers, the Current Guarantors and any entity which may
accede to the Credit Agreement as additional guarantor and a “Loan Party” means any of them.
	 
	 	 	“Local Facilities” means working capital facilities provided to a Grantor (other than
Beverage Packaging Holdings (Luxembourg) I S.A., Beverage Packaging Holdings (Luxembourg) II
S.A. Beverage Packaging Holdings (Luxembourg) III S.à.r.l. and the Borrowers) by a Local
Facility Provider and “Local Facility” means any of them.
	 
	 	 	“Local Facility Agreements” shall mean any agreement under which a Local Facility is made
available.
	 
	 	 	“Local Facility Provider” means HSBC Trinkaus & Burkhardt AG, Deutsche Bank AG, Commerzbank
Aktiengesellschaft and Hong Kong and Shanghai Banking Corporation Ltd., Thailand, Bank of
America, N.A., Canada Branch, FIA Card Services, N.A., Citibank N.A., Citibank (China) Co.,
Ltd., Banco Nacional de Mexico, S.A., Integrante del Grupo Financiero Banamex, Bank of
America, N.A., provided in each case it has become a party to, or by execution of an
additional bank secured party

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	 	 	acknowledgment has agreed to be bound by the terms of, the First Lien Intercreditor
Agreement in its capacity as local facility provider.

	 	 	“Obligations” shall mean all present and future obligations and liabilities (whether actual
or contingent and whether owed jointly or severally or in any other capacity whatsoever) of
each Grantor to the Pledgee under each or any of the Credit Documents (including, but not
limited to, the Parallel Obligations), including with respect to all costs, charges and
expenses incurred by the Pledgee in connection with the protection, preservation or
enforcement of its rights under the Credit Documents or any other document evidencing or
securing any such liabilities. The Obligations shall further include any obligation based on
unjust enrichment (ungerechtfertigte Bereicherung) or tort (Delikt).
	 
	 	 	“October 2010 Secured Notes Documents” shall mean the October 2010 Secured Notes Indenture,
the October 2010 Secured Notes Guarantees, the October 2010 Secured Notes, the Intercreditor
Arrangements, any security document relating to the October 2010 Secured Notes and/or the
October 2010 Secured Notes Indenture and any other document that may be entered into
pursuant to any of the foregoing.
	 
	 	 	“October 2010 Secured Notes Guarantees” shall mean the guarantees of the obligations of the
Issuers under the October 2010 Secured Notes and the October 2010 Secured Notes Indenture by
the October 2010 Secured Notes Guarantors.
	 
	 	 	“October 2010 Secured Notes Guarantors” means the Current October 2010 Secured Notes
Guarantors and any entity which may accede to the October 2010 Secured Notes Indenture as
additional guarantor.
	 
	 	 	“October 2010 Secured Notes Holders” shall mean the holders from time to time of the October
2010 Secured Notes.
	 
	 	 	“October 2010 Secured Notes Indenture Trustee” shall mean The Bank of New York Mellon, in
its capacity as indenture trustee under the October 2010 Secured Notes Indenture and any
successor appointed as indenture trustee under the October 2010 Secured Notes Indenture.
	 
	 	 	“Parallel Obligations” means the independent obligations of any of the Grantors arising
pursuant to the First Lien Intercreditor Agreement to pay to the Pledgee sums equal to the
sums owed by such Grantor to the other Secured Parties (or any of them) under the
Credit Documents.
	 
	 	 	“Pledges” means Pledge 1 and Pledge 2, and “Pledge” means any of them.
	 
	 	 	“Pledge 1” has the meaning given to such term in sub-Clause 3.1 hereof.
	 
	 	 	“Pledges 2” means the pledges constituted under this Agreement in relation to the Shares (or
any rights arising therefrom), and “Pledge 2” means any of them.

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	 	 	“Principal Finance Documents” means the Credit Agreement, the Senior Secured Notes
Indenture, the October 2010 Secured Notes Indenture, the February 2011 Secured Notes
Indenture and the First Lien Intercreditor Agreement.
	 
	 	 	“Promissory Note” shall mean any promissory note executed and delivered by a Borrower upon
the request of a Lender evidencing the amount of principal owed by such Borrower to such
Lender under the Credit Agreement.
	 
	 	 	“Relevant Pledgor’s Subsidiary” has the meaning given to such term in sub-Clause 7.1 hereof.
	 
	 	 	“Secured Parties” shall mean the Lenders (including in their capacity as issuing bank(s),
and/or Hedge Counterparties under the Credit Agreement), the Hedge Counterparties, the
Administrative Agent, any Issuing Bank, the beneficiaries of each indemnification obligation
undertaken by any Grantor under any Credit Document, the Senior Secured Notes Holders, the
October 2010 Secured Notes Holders, the February 2011 Secured Notes Holders, the Indenture
Trustee, the October 2010 Secured Notes Indenture Trustee, the February 2011 Secured Notes
Indenture Trustee, the Collateral Agent, the Local Facility Providers and the Cash
Management Banks.
	 
	 	 	“Senior Secured Notes Documents” shall mean the Senior Secured Notes Indenture, the Senior
Secured Notes Guarantees, the Senior Secured Notes, the Intercreditor Arrangements, any
supplemental indenture, any security document relating to the Senior Secured Notes and/or
the Senior Secured Notes Indenture and any other document that may be entered into pursuant
to any of the foregoing.
	 
	 	 	“Senior Secured Notes Guarantees” shall mean the guarantees of the obligations of the
Issuers under the Senior Secured Notes and the Senior Secured Notes Indenture by the Senior
Secured Notes Guarantors.
	 
	 	 	“Senior Secured Notes Guarantors” means the Current Senior Secured Notes Guarantors and any
entity which may accede to the Senior Secured Notes Indenture as additional guarantor.
	 
	 	 	“Senior Secured Notes Holders” shall mean the holders from time to time of the Senior
Secured Notes.
	 
	 	 	“Share Certificates” means the Existing Share Certificate 1 and any other certificate or
securities representing any of the Future Shares or any rights in relation thereto,
including interest and dividend coupons, annuity bands, renewal coupons and all related
certificates, and “Share Certificate” means any of them.
	 
	 	 	“Shares” means the Existing Shares and the Future Shares.

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	1.2	 	Construction
	 
	 	 	In this Agreement:
	 
	1.2.1	 	Terms used in this Agreement or in any notice relating hereto but not defined have the
meanings ascribed thereto in the First Lien Intercreditor Agreement; and
	 
	1.2.2	 	any reference in this Agreement to a “Clause” or a “sub-Clause” or a “Schedule” shall,
subject to any contrary indication, be construed as a reference to a Clause or sub-Clause or a
Schedule in this Agreement.
	 
	1.2.3	 	To the extent the word “note” or “Note” is used in any other documents in relation to this
Agreement, it shall be construed as if it were a reference to the word “notes” or “Notes” as
defined and used in this Agreement.
	 
	1.3	 	This Agreement is made in the English language. For the avoidance of doubt, the English
language version of this Agreement shall prevail over any translation of this Agreement.
However, where a German translation of a word or phrase appears in the text of this Agreement,
the German translation of such word or phrase shall prevail.
	 
	2.	 	PLEDGED SHARES
	 
	2.1	 	Pledgor 1 is the sole general partner of the Company. Pledgor 1’s general partner’s interests
(Komplementäranteile) in the Company in form and substance at the date hereof correspond to a
special contribution (Sondereinlage) in the amount of EUR 1,307,000 (in words: Euro one
million three hundred and seven thousand) (the “Existing GP Interests”).
	 
	2.2	 	Pledgor 1 is the owner of the Existing GP Interests.
	 
	2.3	 	The Company has a registered share capital (Grundkapital) of EUR 10,000,000 (in words: Euro
ten million) which is divided into 10,000 registered shares (Namensaktien) with no nominal
value (Stückaktien ohne Nennwert) which are at the date of this agreement represented by the
Existing Share Certificates.
	 
	2.4	 	Pledgor 2 is the owner of 501 (in words: five hundred one) shares in the Company, Nos.
9,500-10,000 (the “Existing Shares”), which are represented by a global share certificate (the
“Existing Share Certificate 1”).
	 
	3.	 	PLEDGE
	 
	3.1	 	Pledgor 1 hereby pledges to the Pledgee its GP Interests together with all ancillary rights
and claims associated with the GP Interests as more particularly specified in Clause 4.1 (the
“Pledge 1”).

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	3.2	 	Pledgor 2 hereby pledges (verpfändet) to the Pledgee as security all Shares in the Company
together with all ancillary rights and claims associated with the Shares as more particularly
specified in sub-Clause 4.1 hereof by pledging each Share Certificate representing any Shares
or rights in relation thereto to the Pledgee.
	 
	3.3	 	Pledgor 2 shall:
	 
	3.3.1	 	duly endorse (indossieren) all Share Certificates (other than the Existing Share Certificate
1) which are endorsed in its name with a blank endorsement (Blankoindossament). The Pledgee
and Pledgor 2 acknowledge that the Existing Share Certificate 1 which is endorsed in Pledgor
2’s name has been duly endorsed (indossieren) by Pledgor 2 with a blank endorsement
(Blankoindossament); and
	 
	3.3.2	 	deliver (übergeben) all Share Certificates endorsed by the Pledgor 2 in accordance with
Clause 3.3.1 above to an authorised representative of the Pledgee in Germany for the purpose
of depositing the Share Certificates with the Pledgee. For the avoidance of doubt, the
Existing Share Certificate 1 is already in the possession of the Pledgee. Pledgor 2 shall use
all reasonable endeavours (including offering delivery of the relevant Share Certificate to
the Pledgee in Germany within normal business hours) to deliver any other Share Certificate
endorsed by Pledgor 2 in accordance with clause 3.3.1. above to the Pledgee in Germany without
undue delay upon becoming the owner of the Shares to which it relates.
	 
	3.4	 	Pledgor 2 hereby further assigns to the Pledgee all present and future claims for the return
of any Share Certificate against third parties (other than the Pledgee) having or obtaining
actual possession of a Share Certificate. Such third parties shall be notified forthwith by
Pledgor 2 of the relevant Pledges (as soon as Pledgor 2 becomes aware of such third party
having or obtaining actual possession of a Share Certificate).
	 
	3.5	 	The Pledges 2 shall extend automatically to any newly issued certificates representing,
replacing or supplementing any of the Shares which shall forthwith be duly endorsed
(indossiert) with a blank endorsement (Blankoindossament) and delivered to (übergeben) to the
Pledgee in Germany.
	 
	3.6	 	In addition to the pledges created in accordance with Clause 3.2 to 3.5 (inclusive) above,
Pledgor 2 hereby creates a pledge over all Shares by way of pledging its rights in the Company
(Mitgliedschaftsrechte) arising from such Shares in accordance with sections 1274, 413, 398 of
the German Civil Code (BGB) in favour of the Pledgee.
	 
	3.7	 	The Pledgee hereby accepts all Pledges and assignments made pursuant to this Clause 3.
	 
	3.8	 	The validity and effect of each of the Pledges shall be independent from the validity and the
effect of the other Pledges created hereunder.

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	3.9	 	For the avoidance of doubt, the parties agree that nothing in this Agreement shall exclude a
transfer of all or part of the Pledges created hereunder by operation of law upon the transfer
or assignment (including by way of novation or assumption (Vertragsübernahme)) of all or part
of the Obligations.
	 
	3.10	 	Each of the Pledges is in addition, and without prejudice, to any other security the Secured
Parties may now or hereafter hold in respect of the Obligations.
	 
	4.	 	SCOPE OF THE PLEDGES
	 
	4.1	 	The Pledge 1 constituted by this Agreement include:
	 
	4.1.1	 	the present and future rights to receive:

	 	(a)	 	profits payable in relation to the GP Interests (Gewinnanspruch), if any and,
in particular but not limited to, any and all rights and claims arising in connection
with the capital accounts (Kapitalkonten) and the private account (Privatkonto) of the
Pledgor, if any (including, but not limited to, interest payable on any of these
accounts);
	 
	 	(b)	 	liquidation proceeds (Liquidationserlöse), consideration for redemption
(AbfindungsAnsprüche), repaid capital in case of a decrease of the special contribution
(Sondereinlage), any compensation in case of termination (Kündigung) and/or withdrawal
(Ausscheiden) of a partner of the Company, any claim to a distribution-quote
(Auseinandersetzungsanspruch) and all other pecuniary claims (geldwerte Forderungen)
associated with the GP Interests; and
	 
	 	(c)	 	compensation for the management (Geschäftsführungstätigkeit) of the Company,
for the assumption of liability (Haftungsübernahme) and for the contribution
(Vermögenseinlage); and

	4.1.2	 	all other rights and benefits attributable to the GP Interests.
	 
	4.2	 	The Pledges 2 constituted by this Agreement include:
	 
	4.2.1	 	the present and future rights:

	 	(a)	 	to receive and/or withdraw dividends, to receive payments under an interest
coupon (Zinsanteilsschein), dividend coupon (Dividendenschein) or talon
(Erneuerungsschein) and any other similar cash payments and other forms of profit
distribution;
	 
	 	(b)	 	to receive all other pecuniary claims associated with the relevant Shares;
	 
	 	(c)	 	to subscribe for newly issued shares of the Company; and

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	4.2.2	 	all other rights and benefits attributable to the Shares (including without limitation all
present and future pecuniary claims of Pledgor 2 against the Company arising under or in
connection with any domination and/or profit transfer agreement (Beherrschungs- und/oder
Gewinnabführungsvertrag) or partial profit transfer agreement (TeilGewinnabführungsvertrag)
which may be entered into between Pledgor 2 and the Company).
	 
	4.3	 	Notwithstanding that the items set out in sub-Clause 4.1 and sub-Clause 4.2 above are
pledged hereunder, each Pledgor shall be entitled to receive and retain the items set out in
sub-Clause 4.1 and sub-Clause 4.2 (respectively) above in respect of, and otherwise deal (in
accordance with the provisions of this Agreement and any other Principal Finance Document)
with all items described in sub-Clause 4.1 and sub-Clause 4.2 (respectively) above in respect
of the GP Interests or, as the case may be, Shares at all times other than any time the
Pledgee is entitled to enforce the relevant Pledges constituted hereunder.
	 
	4.4	 	On the date and during the period in which the Pledgee is entitled, in accordance with Clause
7 (Enforcement of the Pledges) hereof, to enforce the Pledges 1 (or any part thereof):

	 	(a)	 	all profits paid or payable and any other property received, receivable or
otherwise distributed in respect of or in exchange for the GP Interests;
	 
	 	(b)	 	all profits or other distributions or payments paid or payable in respect of
the GP Interests in connection with the partial or total liquidation or dissolution of
the Company; and
	 
	 	(c)	 	all cash paid, payable or otherwise distributed in respect of the principal of,
or in redemption of, or in exchange for the GP Interests,

	 	 	shall be forthwith delivered to the Pledgee and held as security for the benefit of the
Secured Parties. If such proceeds or property are received by Pledgor 1, they shall be
received as trustee for the benefit of the Pledgee and shall be segregated from other
property or funds of Pledgor 1 and shall be forthwith delivered to the Pledgee for and on
behalf of the Secured Parties as security in the form so received (with any necessary
endorsement).
	 
	4.5	 	On the date and during the period in which the Pledgee is entitled, in accordance with
Clause 7 (Enforcement of the Pledges) hereof, to enforce the Pledges 2 (or any part thereof):

	 	(a)	 	all dividends paid or payable and any other property received, receivable or
otherwise distributed in respect of or in exchange for the Shares;
	 
	 	(b)	 	all dividends or other distributions or payments paid or payable in respect of
the Shares in connection with the partial or total liquidation or dissolution of

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	 	 	 	the Company or in connection with the reduction of the amount of the registered
share capital of the Company; and
	 
	 	(c)	 	all cash paid, payable or otherwise distributed in respect of the principal of,
or in redemption of, or in exchange for the Shares,

	 	 	shall be forthwith delivered to the Pledgee and held as security for the benefit of the
Secured Parties. If such proceeds or property are received by Pledgor 2, they shall be
received as trustee for the benefit of the Secured Parties and shall be segregated from
other property or funds of Pledgor 2 and shall be forthwith delivered to the Pledgee for the
benefit of the Secured Parties as security in the form so received (with any necessary
endorsement).
	 
	5.	 	PURPOSE OF THE PLEDGES
	 
	 	 	The Pledges hereunder are constituted in order to secure the prompt and complete
satisfaction of any and all Obligations. The Pledges shall also cover any future extension
of the Obligations and each Pledgor herewith expressly agrees that the provisions of Section
1210 para 1 sentence 2 of the German Civil Code (Bürgerliches Gesetzbuch) shall not apply to
this Agreement.
	 
	6.	 	EXERCISE OF MEMBERSHIP RIGHTS
	 
	6.1	 	The membership rights, including the management (Geschäftsführung) of the Company and the
voting rights, attached to the GP Interests remain with Pledgor 1. Pledgor 1 may exercise its
membership rights in any manner which does not adversely affect the validity or enforceability
of the Pledges 1 or the existence of all or part of the GP Interests other than through profit
payments pursuant to sub-Clause 4.3 above, or cause an Event of Default to occur. The Pledgor
undertakes, unless otherwise permitted by the Principal Finance Documents, that no resolutions
will be passed which would, if passed, constitute a breach of its obligations under Clause 9
or any other obligation under this Agreement.
	 
	6.2	 	The membership rights, including the voting rights, attached to the Shares remain with
Pledgor 2. Pledgor 2 may exercise its membership rights in any manner which does not adversely
affect the validity and enforceability of the Pledges 2, the existence of all or part of the
Shares or cause an Event of Default to occur. Pledgor 2 undertakes, unless otherwise permitted
by the Principal Finance Documents, not to support any resolutions which if passed would
constitute a breach of its obligations under Clause 9 or any other obligation under this
Agreement.
	 
	7.	 	ENFORCEMENT OF THE PLEDGES
	 
	7.1	 	 

	 	(a)	 	Subject to paragraphs (b) and (c) of this Clause 7.1 below, if:

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	 	(i)	 	an Enforcement Event has occurred and is continuing; and
	 
	 	(ii)	 	the requirements set forth in Sections 1273 para 2, 1204 et
seq. of the German Civil Code with regard to the enforcement of any of the
Pledges are met (Pfandreife), in particular, if any of the Obligations has
become due and payable,

	 	 	 	then in order to enforce the Pledges (or any of them), the Pledgee, may at any time
thereafter avail itself of all rights and remedies that a pledgee has against a
pledgor under the laws of the Federal Republic of Germany.
	 
	 	(b)	 	The Pledgee may only enforce the Pledges in accordance with paragraph (a) of
this Clause 7.1 above in relation to obligations of any Grantor (other than
obligations under the Credit Documents of:

	 	(i)	 	the relevant Pledgor:

	 	(1)	 	incurred as Borrower under the Credit
Agreement;
	 
	 	(2)	 	incurred as borrower under a Local Facility
Agreement;
	 
	 	(3)	 	incurred as a party to and beneficiary under
any hedging agreement entered into with an Hedge Counterparty;
	 
	 	(4)	 	owed as cash management obligations to a Cash
Management Bank for Cash Management Services, provided the relevant
Pledgor is a beneficiary of the Cash Management Services causing such
cash management obligations; or
	 
	 	(5)	 	to the extent certain proceeds of the Senior
Secured Notes Indenture and/or the October 2010 Secured Notes Indenture
and/or the February 2011 Secured Notes Indenture have been made
available to the relevant Pledgor, up to such proceeds; or

	 	(ii)	 	a direct or indirect subsidiary of the relevant Pledgor (the
“Relevant Pledgor’s Subsidiary”):

	 	(1)	 	incurred as Borrower under the Credit
Agreement;
	 
	 	(2)	 	incurred as borrower under a Local Facility
Agreement;
	 
	 	(3)	 	incurred as a party to and beneficiary under
any hedging agreement entered into with an Hedge Counterparty;
	 
	 	(4)	 	owed as cash management obligations to a Cash
Management Bank for Cash Management Services, provided the Relevant

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	 	 	 	Pledgor’s Subsidiary is a beneficiary of the Cash Management
Services causing such cash management obligations; or
	 
	 	(5)	 	to the extent certain proceeds of the Senior
Secured Notes Indenture and/or the October 2010 Secured Notes Indenture
and/or the February 2011 Secured Notes Indenture have been made
available to the Relevant Pledgor’s Subsidiary, up to such proceeds),

	 	after:
	 
	 	(i)	 	the relevant Pledgor’s auditors have:

	 	(1)	 	delivered an audited interim balance sheet of
the relevant Pledgor (valuating the GP Interests or, as the case may
be, Shares at their realisation value) to the Pledgee; and
	 
	 	(2)	 	determined the existence and extent of the
profits available for the payment of a dividend by the relevant Pledgor
in accordance with the relevant provisions of the Swiss Code of
Obligations (the “Auditor’s Determination”); and

	 	(ii)	 	the relevant Pledgor’s shareholders have passed for such
dividend payment resolutions for the distribution of dividends (“Dividend
Resolution”) in accordance with the relevant provisions of the Swiss Federal
Code of Obligations being in force at that time.

	 	 	 	The relevant Pledgor shall deliver the Auditor’s Determination and the Dividend
Resolution within 30 business days after the Pledgee has given notice to the
relevant Pledgor of its intention to enforce the relevant Pledges.
	 
	 	(c)	 	The Pledgee shall only enforce the Pledges in relation to obligations of any
Grantor (other than obligations under the Credit Documents of:

	 	(i)	 	the relevant Pledgor:

	 	(1)	 	incurred as Borrower under the Credit
Agreement;
	 
	 	(2)	 	incurred as borrower under a Local Facility
Agreement;
	 
	 	(3)	 	incurred as a party to and beneficiary under
any hedging agreement entered into with an Hedge Counterparty;
	 
	 	(4)	 	owed as cash management obligations to a Cash
Management Bank for Cash Management Services, provided the relevant

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	 	 	 	Pledgor is a beneficiary of the Cash Management Services causing
such cash management obligations; or
	 
	 	(5)	 	to the extent certain proceeds of the Senior
Secured Notes Indenture and/or the October 2010 Secured Notes Indenture
and/or the February 2011 Secured Notes Indenture have been made
available to the relevant Pledgor, up to such proceeds; or

	 	(ii)	 	a Relevant Pledgor’s Subsidiary:

	 	(1)	 	incurred as Borrower under the Credit
Agreement;
	 
	 	(2)	 	incurred as borrower under a Local Facility
Agreement;
	 
	 	(3)	 	incurred as a party to and beneficiary under
any hedging agreement entered into with an Hedge Counterparty;
	 
	 	(4)	 	owed as cash management obligations to a Cash
Management Bank for Cash Management Services, provided the Relevant
Pledgor’s Subsidiary is a beneficiary of the Cash Management Services
causing such cash management obligations; or
	 
	 	(5)	 	to the extent certain proceeds of the Senior
Secured Notes Indenture and/or the October 2010 Secured Notes Indenture
and/or the February 2011 Secured Notes Indenture have been made
available to the Relevant Pledgor’s Subsidiary, up to such proceeds)

	 	 	 	if according to the Auditor’s Determination and the Dividend Resolution the relevant
Pledgor has validly resolved to distribute the profits available for payment of a
dividend, subject to Clause 8 (Swiss Limitations) below, provided that if the
relevant Pledges are not enforced and/or enforceable, the Pledgee may subsequently
again seek to enforce the relevant Pledges in accordance with this paragraph (c) of
this Clause 7.1 and Clause 8 (Swiss Limitations) at any time thereafter.

	7.2	 	Notwithstanding Section 1277 of the German Civil Code, the Pledgee is entitled to exercise
its rights without obtaining enforceable judgment or other instrument (vollstreckbarer Titel).
The Pledgee shall be entitled to have the Pledges enforced in any manner allowed under the
laws of the Federal Republic of Germany, in particular have the Pledges sold (including at
public auction).
	 
	7.3	 	Each Pledgor hereby expressly agrees that five business days’ prior written notice to it of
the place and time of any such sale shall be sufficient and the Pledgee shall not be obliged
to deliver any further notices (including, but not limited to the notices set out

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	 	 	under Section 1234 of the German Civil Code) to it prior to such sale. The sale may take
place at any place in the Federal Republic of Germany designated by the Pledgee.
	 
	7.4	 	If the Pledgee should seek to enforce any Pledges under sub-Clause 7.1, each Pledgor shall,
at its own expense, render forthwith all necessary assistance in order to facilitate the
prompt sale of the GP Interests or, as the case may be, Shares or any part thereof and/or the
exercise by the Pledgee of any other right it may have as a Pledgee.
	 
	7.5	 	Whilst the requirements for enforcement under sub-Clause 7.1 are continuing all subsequent
payments attributable to the GP Interests or, as the case may be, Shares and all payments
based on similar ancillary rights attributed to the GP Interests or, as the case may be,
Shares may be applied by the Pledgee in satisfaction in whole or in part of the Obligations or
treated as additional collateral.
	 
	7.6	 	Even if the requirements for enforcement referred to under sub-Clause 7.1 above are met, the
Pledgee shall not, whether as proxy or otherwise, be entitled to exercise the voting rights
attached to the GP Interests or Shares. During the continuation of an event which allows the
Pledgee to enforce the Pledges, each Pledgor shall have the obligations and the Pledgee shall
have the rights set forth in sub-Clause 9.2.8 below regardless of which resolutions are
intended to be adopted.
	 
	7.7	 	The Pledgee may, in its sole discretion, determine which of several security interests, if
applicable, shall be used to satisfy the Obligations. Pledgor 1 and Pledgor 2 hereby expressly
waive their respective right pursuant to Section 1230 sentence 2 of the German Civil Code to
limit the realisation of the Pledges 1 and Pledges 2 (respectively) and pledges over
partnership interests or shares in one or more other companies to such number of pledges as
are necessary to satisfy the Obligations and agrees further that the Pledgee may decide to
enforce the Pledges 1 and Pledges 2 (respectively) individually at separate proceedings or
together with pledges over partnership interests or shares in one or more other companies at
one single proceeding (Gesamtverwertung).
	 
	7.8	 	Each Pledgor hereby expressly waives all defenses of revocation (Einrede der Anfechtbarkeit)
and set-off (Einrede der Aufrechenbarkeit) pursuant to Sections 770, 1211 of the German Civil
Code.
	 
	7.9	 	Each Pledgor hereby expressly waives its defenses based on defenses any Grantor might have
against any of the Obligations (Einreden des Hauptschuldners) pursuant to Section 1211 para 1
sentence 1 alternative 1 of the German Civil Code.
	 
	7.10	 	If the Pledges are enforced or if any Pledgor has discharged any of the Obligations (or any
part of them), Section 1225 of the German Civil Code (legal subrogation of claims to a pledgor
 — Forderungsübergang auf den Verpfänder) shall not apply and no rights of the Pledgee shall
pass to that Pledgor by subrogation or otherwise. Further, no Pledgor shall at any time
before, on or after an enforcement of the Pledges and as a

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	 	 	result of it entering into this Agreement, be entitled to demand indemnification or
compensation from the Company or any of the Company’s affiliates or to assign any of these
claims.
	 
	8.	 	SWISS LIMITATIONS
	 
	8.1	 	Proceeds of an enforcement of the Pledges shall only be applied towards satisfaction of the
Obligations in relation to obligations of any Grantor (other than obligations under the Credit
Documents of:
	 
	8.1.1	 	the relevant Pledgor:

	 	(a)	 	incurred as Borrower under the Credit Agreement;
	 
	 	(b)	 	incurred as borrower under a Local Facility Agreement;
	 
	 	(c)	 	incurred as a party to and beneficiary under any hedging agreement entered into
with an Hedge Counterparty;
	 
	 	(d)	 	owed as cash management obligations to a Cash Management Bank for Cash
Management Services, provided the relevant Pledgor is a beneficiary of the Cash
Management Services causing such cash management obligations; or
	 
	 	(e)	 	to the extent certain proceeds of the Senior Secured Notes Indenture and/or the
October 2010 Secured Notes Indenture and/or the February 2011 Secured Notes Indenture
have been made available to the relevant Pledgor, up to such proceeds; or

	8.1.2	 	a Relevant Pledgor’s Subsidiary:

	 	(a)	 	incurred as Borrower under the Credit Agreement;
	 
	 	(b)	 	incurred as borrower under a Local Facility Agreement;
	 
	 	(c)	 	incurred as a party to and beneficiary under any hedging agreement entered into
with an Hedge Counterparty;
	 
	 	(d)	 	owed as cash management obligations to a Cash Management Bank for Cash
Management Services, provided the Relevant Pledgor’s Subsidiary is a beneficiary of the
Cash Management Services causing such cash management obligations; or
	 
	 	(e)	 	to the extent certain proceeds of the Senior Secured Notes Indenture and/or the
October 2010 Secured Notes Indenture and/or the February 2011 Secured Notes Indenture
have been made available to the Relevant Pledgor’s Subsidiary, up to such proceeds)

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	 	 	to the extent application of the proceeds of an enforcement of the relevant Pledges towards
such obligations does not constitute a repayment of capital (Einlagerueckgewaehr), a
violation of the legally protected reserves (gesetzlich geschuetzte Reserven) or a payment
of a (constructive) dividend prohibited by the Swiss Federal Code of Obligations by the
relevant Pledgor and in the maximum amount of the relevant Pledgor’s profits available for
the distribution of dividends at the point in time the relevant Pledges are enforced (being
the balance sheet profits and any free reserves made for this purpose, in each case in
accordance with the relevant Swiss law) (the “Available Enforcement Proceeds”). From the
proceeds of an enforcement an amount equal to the sum of (i) the excess, if any, of the
enforcement proceeds over the Available Enforcement Proceeds plus (ii) the Tax Payment
Amount (as defined below) shall be returned to the relevant Pledgor;

	8.2	 	For such application of the Available Enforcement Proceeds towards satisfaction of the
Obligations the relevant Pledgor shall:
	 
	8.2.1	 	procure to pass a shareholders’ resolutions for the distribution of dividends in accordance
with the relevant provisions of the Swiss Federal Code of Obligations being in force at that
time (currently the profits available for the distribution of dividends as described above
must be determined based on an audited balance sheet and such shareholders’ resolution must be
based on the report from the relevant Pledgor’s auditors approving the proposed distribution
of dividends); and
	 
	8.2.2	 	deduct from the Available Enforcement Proceeds Swiss Anticipatory Tax (withholding tax) at
the rate of 35% (or such other rate as in force from time to time) and subject to any
applicable double taxation treaty and/or agreements entered into with the Swiss Federal Tax
administration (the “Tax Payment Amount”):

	 	(a)	 	pay the Tax Payment Amount to the Swiss Federal Tax Administration; and
	 
	 	(b)	 	give evidence to the respective beneficiary or beneficiaries (as the same may
be) of such deduction of the Tax Payment Amount in accordance with Clause 2.20 (Taxes)
of the Credit Agreement and Clause 4.15 (Withholding Taxes) of the Senior Secured Notes
Indenture, the October 2010 Secured Notes Indenture or the February 2011 Secured Notes
Indenture.

	 	 	But if such a deduction is made, the relevant Pledgor shall not be obliged to gross-up
pursuant to Clause 2.20 (Taxes) of the Credit Agreement or Clause 4.15 (Withholding taxes)
of the Senior Secured Notes Indenture, the October 2010 Secured Notes Indenture or the
February 2011 Secured Notes Indenture to the extent that such gross-up would result in the
aggregate of the amounts of the proceeds of an enforcement of the relevant Pledges applied
by the beneficiary or beneficiaries (as the same may be) towards satisfaction of the
Obligations and the Tax Payment Amount paid to the Swiss

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	 	 	Federal Tax administration exceeding the maximum amount of its profits available for the
distribution of dividends.
	 
	9.	 	UNDERTAKINGS OF THE PLEDGORS
	 
	9.1	 	Unless otherwise permitted by the Principal Finance Documents, during the term of this
Agreement, Pledgor 1 undertakes to the Pledgee:
	 
	9.1.1	 	to promptly effect any contributions in cash (Bareinlage) or kind (Sacheinlage) to be made
in respect of the GP Interests;
	 
	9.1.2	 	to promptly notify the Pledgee in writing of any change in the partners, the special
contribution (Sondereinlage) of the Company or any encumbrance over the GP Interests (or part
of them). In the case of any attachment (Pfändung) in respect of any of the GP Interests or
any ancillary rights set out in sub-Clause 4.1, Pledgor 1 shall promptly notify the Pledgee in
writing, such notice to be accompanied by any documents the Pledgee might need to defend
itself against any claim of a third party. In particular, Pledgor 1 shall promptly forward to
the Pledgee a copy of the attachment order (Pfändungsbeschluss), any transfer order
(Überweisungsbeschluss) and all other documents necessary for a defence against the
attachment;
	 
	9.1.3	 	to promptly inform the Pledgee in writing of all matters concerning the Company of which
Pledgor 1 is aware which would materially adversely affect the security interest of the
Pledgee. In particular, Pledgor 1 shall notify the Pledgee in writing forthwith of any
shareholders’ meeting at which a shareholders’ resolution is intended to be adopted which
would have a materially adverse effect upon any of the Pledges 1. Pledgor 1 shall allow,
during the continuance of any of the circumstances which permit the Pledgee to enforce the
Pledges 1 in accordance with Clause 7, the Pledgee or, as the case may be, their proxy or any
other person designated by the Pledgee, to participate in all such shareholders’ meetings of
the Company as attendants without power to vote. Subject to the provision contained in
sub-Clause 13.1, the Pledgee’s right to attend the shareholders’ meeting shall lapse
immediately upon complete satisfaction and discharge of the Obligations or following the
discontinuance of an Enforcement Event;
	 
	9.1.4	 	not to allow, without the prior written consent of the Pledgee (such consent not to be
unreasonably withheld), any other party to become a general partner (Komplementär) of the
Company and not to defeat, impair or circumvent in any way the rights of the Pledgee created
hereunder;
	 
	9.1.5	 	to refrain from any acts or omissions, subject to the performance of its rights and duties
under the Existing Interest Pledge Agreement, the purpose or effect of which is or would be
the dilution of the value of the GP Interests or the GP Interests ceasing to exist, unless
permitted by the Pledgee;

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	9.1.6	 	not to change the articles of association with a view to stipulating certain requirements
for the effective transfer of the GP Interests in addition to the general legal requirements
pursuant to German corporate law;
	 
	9.1.7	 	not to amend, or vote for any amendment of, the articles of association of the Company to
the extent that such amendment would materially adversely affect the security interest of the
Pledgee created hereunder and, in particular but without limitation, not to amend, or vote of
any amendment of, the relevant provisions of the articles of association relating to the
distribution of profits and other pecuniary claims attributed to the GP Interests, the capital
accounts and private accounts (Kapitalkonten und Privatkonten) without the prior written
consent of the Pledgee (such consent not to be unreasonably withheld); and
	 
	9.1.8	 	insofar as additional declarations or actions are necessary for the creation of the Pledges
1 (or any of them) in favour of the Pledgee and at the Pledgee’s reasonable request to make
such declarations and undertake such actions at the Pledgor 1’s costs and expenses.
	 
	9.2	 	Unless otherwise permitted by the Principal Finance Documents, during the term of this
Agreement, Pledgor 2 undertakes to the Pledgee:
	 
	9.2.1	 	not to take, or participate in, any action which results or might result in its loss of
ownership of all or part of the Shares or any other transaction which would have the same
result as a sale, transfer or other disposal of the Shares or which would for any other reason
be inconsistent with the security interest of the Pledgee or the security purpose (as
described in Clause 5) or defeat, impair or circumvent the rights of the Pledgee except as
permitted by the Pledgee (acting reasonably);
	 
	9.2.2	 	to procure that all Share Certificates representing the Shares acquired by the Pledgor will,
promptly following the acquisition of the relevant Shares, be delivered (übergeben) to the
Pledgee;
	 
	9.2.3	 	not to encumber, permit to subsist, create or agree to create any other security interest or
third party right in or over the Shares or other rights subject to the Pledges 2 and the
Existing Share Pledge Agreement;
	 
	9.2.4	 	to inform the Pledgee promptly of any change made in the registered share capital of the
Company, or of any changes to the Company’s articles of association which would materially
adversely affect the security interest of the Pledgee;
	 
	9.2.5	 	to promptly notify the Pledgee of any attachment (Pfändung) in respect of any of the Shares
or any ancillary rights set out in sub-Clause 4.2, such notice to be accompanied by any
documents the Pledgee might need to defend itself against any claim of a third party. In
particular, Pledgor 2 shall promptly forward to the Pledgee a copy of the

- 23 -

 

	 	 	attachment order (Pfändungsbeschluss), any transfer order (Überweisungsbeschluss) and all
other documents necessary for a defence against the attachment;
	 
	9.2.6	 	in the event of any increase in the capital of the Company, not to allow, without the prior
written consent of the Pledgee (such consent not to be unreasonably withheld), any party other
than itself or SIG Austria Holding GmbH to subscribe for any Future Shares, and not to defeat,
impair or circumvent in any way the rights of the Pledgee created hereunder;
	 
	9.2.7	 	to pledge in favour of the Pledgee on terms identical to the terms of this Agreement any
Future Shares which it acquires upon an increase of the capital of the Company by way of
capital contribution (Kapitalerhöhung gegen Einlage) or out of authorised capital
(Kapitalerhöhung aus genehmigtem Kapital) promptly after the registration of such increase of
the capital of the Company in the competent commercial register (Handelsregister) and the
acquisition of such Future Shares;
	 
	9.2.8	 	to promptly inform the Pledgee in writing of all matters concerning the Company of which it
is aware which would materially adversely affect the security interest of the Pledgee. In
particular, Pledgor 2 shall notify the Pledgee, forthwith of any shareholders’ meeting at
which a shareholders’ resolution is intended to be adopted which would have a materially
adverse effect upon any of the Pledges 2. Pledgor 2 shall allow, following the occurrence and
during the continuance of an Enforcement Event, the Pledgee or, as the case may be, its proxy
or any other person designated by the Pledgee, to participate in all such shareholders’
meetings of the Company as attendants without power to vote. Subject to the provision
contained in sub-Clause 13.1, the Pledgee’s right to attend the shareholders’ meeting shall
lapse immediately upon complete satisfaction and discharge of the Obligations;
	 
	9.2.9	 	to refrain from any acts or omissions, subject to the performance of its rights and duties
under the Existing Share Pledge Agreement, the purpose or effect of which is or would be the
dilution of the value of the Shares or the Shares ceasing to exist except if permitted by the
Pledgee (acting reasonably);
	 
	9.2.10	 	not to amend the articles of association of the Company to the extent that such amendment
would materially adversely affect the security interest of the Pledgee created hereunder
without the prior written consent of the Pledgee (such consent not to be unreasonably
withheld); and
	 
	9.2.11	 	insofar as additional declarations or actions are necessary for the creation of the Pledges
(or any of them) in favour of the Pledgee and at the Pledgee’s reasonable request, to make
such declarations and undertake such actions at Pledgor 2’s costs and expenses.
	 
	 	 	For the avoidance of doubt, notification and consent requirements as set out in sub-Clauses
9.1.1 through 9.1.7 and 9.2.1 through 9.2.10 of this Agreement are deemed to

- 24 -

 

	 	 	be satisfied by the relevant Pledgor if and to the extent such notification or consent has
been delivered under the relevant Existing Pledge Agreement provided that such notification
to the Pledgee or consent of the Pledgee makes reference to this Agreement and the relevant
Existing Pledge Agreement.
	 
	10.	 	DELEGATION
	 
	 	 	The Pledgee shall have full power to delegate (either generally or specifically) the powers,
authorities and discretions conferred on it by this Agreement on such terms and conditions
as it shall see fit. The Pledgee shall only remain liable for diligently selecting and
providing initial instructions to such delegate.
	 
	11.	 	INDEMNITY
	 
	 	 	To the extent set out in the First Lien Intercreditor Credit Agreement, each Pledgor shall,
notwithstanding any release or discharge of all or any part of the security, indemnify the
Pledgee, its agents its attorneys and any delegate against any action, proceeding, claims,
losses, liabilities, damages, expenses, demands, taxes, losses and costs which it may
sustain as a consequence of any breach by that Pledgor of the provisions of this Agreement,
the exercise or purported exercise of any of the rights and powers conferred on them by this
Agreement or otherwise relating to the relevant Pledges.
	 
	12.	 	NO LIABILITY
	 
	 	 	Except to the extent provided in the Principal Finance Documents, none of the Pledgee, its
nominee(s) or agent(s) or delegate(s) shall be liable by reason of (a) taking any action
permitted by this Agreement or (b) any neglect or default in connection with the assets and
rights subject to the security interest created hereunder, save in respect of any loss or
damage which is suffered as a result of wilful misconduct (Vorsatz) or gross negligence
(grobe Fahrlässigkeit) by the Pledgee, its nominee(s) or agent(s) or delegate(s), or (c) the
enforcement or realisation of all or any part of the security interest created hereunder.
	 
	13.	 	DURATION AND INDEPENDENCE
	 
	13.1	 	This Agreement shall remain in full force and effect until complete satisfaction of the
Obligations. The Pledges shall not cease to exist, if any Grantor under the Credit Documents
has only temporarily discharged the Obligations.
	 
	13.2	 	This Agreement shall create a continuing security and no change, amendment, or supplement
whatsoever in the Credit Documents or in any document or agreement related to any of the
Credit Documents shall affect the validity or the scope of this Agreement nor the obligations
which are imposed on the Pledgors pursuant to it.

- 25 -

 

	13.3	 	This Agreement is independent from any other security or guarantee which may have been or
will be given to the Pledgee. None of such other security shall prejudice, or shall be
prejudiced by, or shall be merged in any way with this Agreement.
	 
	13.4	 	Waiving Section 418 of the German Civil Code, each Pledgor hereby agrees that the security
created hereunder shall not be affected by any transfer or assumption of the Obligations to,
or by, any third party.
	 
	14.	 	RELEASE (PFANDFREIGABE)
	 
	14.1	 	Upon complete and irrevocable satisfaction of the Obligations, the Pledgee (as instructed in
accordance with the First Lien Intercreditor Agreement) will as soon as reasonably practical
declare in writing the release of the Pledges (Pfandfreigabe) to the Pledgors as a matter of
record. For the avoidance of doubt, the parties are aware that upon full and complete
satisfaction of the Obligations the Pledges, due to their accessory nature (Akzessorietät),
cease to exist by operation of German mandatory law.
	 
	14.2	 	At any time when the total value of the aggregate security granted by the Pledgors and any of
the other Grantors to secure the Obligations (the “Security”) which can be expected to be
realised in the event of an enforcement of the Security (realisierbarer Wert) exceeds 110% of
the Obligations (the “Limit”) not only temporarily, the Pledgee shall on demand of a Pledgor
release such part of the Security (Sicherheitenfreigabe) as the Pledgee may in its reasonable
discretion (as instructed in accordance with the First Lien Intercreditor Agreement) determine
so as to reduce the realisable value of the Security to the Limit.
	 
	14.3	 	The Pledgee (as instructed in accordance with the First Lien Intercreditor Agreement) will as
soon as reasonably practicable declare in writing the release of the Pledges (Pfandfreigabe)
to the Pledgors in accordance with, and to the extent required by, the Intercreditor
Arrangements.
	 
	15.	 	PARTIAL INVALIDITY; WAIVER
	 
	15.1	 	If at any time, any one or more of the provisions hereof is or becomes invalid, illegal or
unenforceable in any respect under the law of any jurisdiction, such provision shall as to
such jurisdiction, be ineffective to the extent necessary without affecting or impairing the
validity, legality and enforceability of the remaining provisions hereof or of such provisions
in any other jurisdiction. The invalid, illegal or unenforceable provision shall be deemed to
be replaced with such valid, legal or enforceable provision which comes as close as possible
to the original intent of the parties and the invalid, illegal or unenforceable provision.
Should a gap (Regelungslücke) become evident in this Agreement, such gap shall, without
affecting or impairing the validity, legality and enforceability of the remaining provisions
hereof, be deemed to be filled

- 26 -

 

	 	 	in with such provision which comes as close as possible to the original intent of the
parties.
	 
	15.2	 	No failure to exercise, nor any delay in exercising, on the part of the Pledgee, any right or
remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise
of any right or remedy prevent any further or other exercise thereof or the exercise of any
other right or remedy. The rights and remedies provided hereunder are cumulative and not
exclusive of any rights or remedies provided by law.
	 
	15.3	 	In particular, the Pledges shall not be affected and shall in any event extend to any and all
            shares in the Company even if the number or nominal value of the Existing Shares or the
aggregate share capital of the Company as stated in Clause 2 are inaccurate or deviate from
the actual facts.
	 
	16.	 	AMENDMENTS
	 
	 	 	Changes and amendments to this Agreement including this Clause 16 shall be made in writing.
	 
	17.	 	NOTICES AND THEIR LANGUAGE
	 
	17.1	 	All notices and other communications provided for herein shall be in writing and shall be
delivered by hand or overnight courier service, mailed by certified or registered mail or sent
by fax, as follows:

	 	 	 	 	 

	For Pledgor 1:	 	SIG Reinag AG
	 
	 	 	 	 
	 

	 	Address:
	 	Laufengasse 18
	 

	 	 	 	CH-8212 Neuhausen am
	 

	 	 	 	Rheinfall 
	 

	 	 	 	 Switzerland
	 

	 	Telephone:
	 	+41 52 6746111
	 

	 	Fax:
	 	+41 52 674 65 74
	 

	 	Attention:
	 	Head of legal corporate
	 
	 	 	 	 
	For Pledgor 2:	 	SIG Combibloc Group AG
	 
	 	 	 	 
	 

	 	Adress:
	 	Laufengasse 18
	 

	 	 	 	CH- 8212 Neuhausen am
	 

	 	 	 	Rheinfall 
	 

	 	 	 	 Switzerland
	 

	 	Telephone:
	 	+41 52 6746111
	 

	 	Fax:
	 	+41 52 6746574
	 

	 	Attention:
	 	Head of legal corporate

- 27 -

 

	 	 	 	 	 

	with a copy to:

	 	Address:
	 	c/o Rank Group Limited
	 

	 	 	 	Level 9
	 

	 	 	 	148 Quay Street
	 

	 	 	 	PO Box 3515
	 

	 	 	 	Auckland 1140
	 

	 	 	 	New Zealand
	 

	 	Telephone:
	 	+649 3666 259
	 

	 	Fax:
	 	+649 3666 263
	 

	 	Attention:
	 	Helen Golding
	 
	 	 	 	 
	For the Pledgee:	 	The Bank of New York Mellon
	 
	 	 	 	 
	 

	 	Address:
	 	101 Barclay Street,
	 

	 	 	 	4E New York, N.Y. 10286,
	 

	 	 	 	The United States of America
	 

	 	Telephone:
	 	+212 298 1528
	 

	 	Fax:
	 	+212 815 5366
	 

	 	Attention:
	 	International Corporate Trust

	17.2	 	Any party hereto may change its address or fax number for notices and other communications
hereunder by notice to the other parties hereto. As agreed to in writing in accordance with
the First Lien Intercreditor Agreement, notices and other communications hereunder may also be
delivered by e-mail to the e-mail address of a representative of the applicable party to this
Agreement provided from time to time by such party.
	 
	17.3	 	All notices and other communications given to any party in connection with this Agreement in
accordance with the provisions of this Agreement shall be deemed (widerlegbare Vermutung)
received on the date sent (if a business day) and on the next business day thereafter (in all
other cases) if delivered by hand or overnight courier service or sent by fax or on the date
five business days after dispatch by certified or registered mail if mailed, in each case
delivered, sent or mailed (properly addressed) to such party as provided in this Clause 17 or
in accordance with the latest unrevoked direction from such party given in accordance with
this Clause 17.
	 
	17.4	 	Any notice or other communication under or in connection with this Agreement shall be in the
English language or, if in any other language, accompanied by a translation into English. In
the event of any conflict between the English text and the text in any other language, the
English text shall prevail.
	 
	18.	 	APPLICABLE LAW, JURISDICTION
	 
	18.1	 	This Agreement is governed by the laws of the Federal Republic of Germany.
	 
	18.2	 	The place of jurisdiction for any and all disputes arising under or in connection with this
Agreement shall be the district court (Landgericht) in Frankfurt am Main. The Pledgee however,
shall also be entitled to take action against any Pledgor in any other court of competent
jurisdiction. Further, the taking of proceedings against any Pledgor

- 28 -

 

	 	 	in any one or more jurisdictions shall not preclude the taking of proceedings in any other
jurisdiction (whether concurrently or not) if and to the extent permitted by applicable law.
	 
	19.	 	CONCLUSION OF THIS AGREEMENT (VERTRAGSSCHLUSS)
	 
	19.1	 	The parties to this Agreement may choose to conclude this Agreement by an exchange of signed
signature page(s), transmitted by means of telecommunication (telekommunikative Übermittlung)
by fax or attached as an electronic photocopy (pdf., tif., etc.) to an e-mail.
	 
	19.2	 	If the parties to this Agreement choose to conclude this Agreement pursuant to sub-Clause
19.1 above, they will transmit the signed signature page(s) of this Agreement to attention of
Isabel van Bremen or Julia Eggert (isabel.vanbremen@cliffordchance.com or
julia.eggert@cliffordchance.com, fax: +49 69 7199 4000) (the “Recipients”). The Agreement will
be considered concluded once any of the Recipients has actually received the signed signature
page(s) (Zugang der Unterschriftsseite(n)) from all parties to this Agreement and at the time
of the receipt of the last outstanding signature page(s).
	 
	19.3	 	For the purposes of this Clause 19 only, the parties to this Agreement appoint each Recipient
as their attorney (Empfangsvertreter) and expressly allow (gestatten) the Recipient to collect
the signed signature page(s) from all and for all parties to this Agreement. For the avoidance
of doubt, the Recipients will have no further duties connected with their position as
Recipient. In particular, the Recipients may assume the conformity to the authentic
original(s) of the signature page(s) transmitted to it by means of telecommunication, the
genuineness of all signatures on the original signature page(s) and the signing authority of
the signatories.

- 29 -

 

SCHEDULE 1

THE CURRENT BORROWERS, THE CURRENT GUARANTORS, THE CURRENT 

SENIOR SECURED NOTES GUARANTORS, THE
CURRENT OCTOBER 2010 

SECURED NOTES GUARANTORS AND THE ORIGINAL FEBRUARY 2011 

SECURED NOTES
GUARANTORS

Part I — The Current Borrowers

SIG Euro Holding AG & Co. KGaA

Closure Systems International Holdings Inc.

Closure Systems International B.V.

SIG Austria Holding GmbH

Reynolds Consumer Products Holdings Inc.

Reynolds Group Holdings Inc.

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

Part II — The Current Guarantors

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda.

SIG Combibloc do Brasil Ltda.

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

- 30 -

 

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

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

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

- 31 -

 

Closure Systems International Holdings (Hungary) Kft.

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

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

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

Reynolds Group Issuer (Luxembourg) S.A.

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

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

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

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

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

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

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

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

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

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

- 32 -

 

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Combibloc Ltd.

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

- 33 -

 

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Reynolds Group Issuer Inc.

Reynolds Group Issuer LLC

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

- 34 -

 

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

Part III — The Current Senior Secured Notes Guarantors

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

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

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

- 35 -

 

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

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

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

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

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

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

- 36 -

 

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

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

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

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

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

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

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

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Combibloc Ltd.

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

- 37 -

 

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

- 38 -

 

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

Part IV — The Current October 2010 Secured Notes Guarantors

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

- 39 -

 

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

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

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

- 40 -

 

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft

CSI Hungary Gyártó és Kereskedelmi Kft (aka CSI Hungary)

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

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

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

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

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

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

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

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

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

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

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

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

- 41 -

 

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

- 42 -

 

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

Part V— The Original February 2011 Secured Notes Guarantors

Whakatane Mill Australia Pty Limited

CSI Latin American Holdings Corporation

- 43 -

 

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

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

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

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

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

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

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

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

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

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

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

- 44 -

 

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

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

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

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

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

- 45 -

 

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

- 46 -

 

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

- 47 -

 

SCHEDULE 2

COPY OF APPROVAL AND CONSENT

- 48 -

 

SIGNATURE PAGES

This Agreement has been entered into on the date stated at the beginning by

SIG Reinag AG

as Pledgor 1

	 	 	 	 	 
	 	By:  	Karen Mower 	 
	 	 	Name:  	 KAREN MOWER  	 
	 	 	Title: 	Authorised Signatory 	 
	 	 	Date: 	2 MARCH 2011 	 
	 
	 	SIG Combibloc Group AG

as Pledgor 2

 	 
	 	By:  	Karen Mower 	 
	 	 	Name:  	 KAREN MOWER  	 
	 	 	Title: 	Authorised Signatory 	 
	 	 	Date: 	2 MARCH 2011 	 
	 

The Bank of New York Mellon

as Pledgee

	 	 	 	 	 	 	 	 

	By: 	Catherine F. Donohue	 	By: 	 	 	 	 
	 	 
	 	 	 
	 	Name: 	 CATHERINE F. DONOHUE	 	 	Name: 	 
	 	Title:	 Vice President	 	 	Title:	 
	 	Date: 2 MARCH 2011	 	 	Date:

Acknowledged and agreed

SIG Euro Holding AG & Co. KGaA represented by SIG Reinag AG as its general partner (Komplementär)

	 	 	 	 	 	 	 	 
	By: 	Karen Mower	 	By: 	Cindi Lefari
	 	 
	 	 	 
	 	Name: 	 KAREN MOWER	 	 	Name: 	 CINDI LEFARI
	 	Title:	 Authorised Signatory 	 	 	Title:	 Authorised Signatory
	 	Date: 2 MARCH 2011	 	 	Date: 2 MARCH 2011

- 49 -exv4w408

EXHIBIT 4.408

			
	 
	 	CLIFFORD CHANCE

Partnerschaftsgesellschaft

CLOSURE SYSTEMS INTERNATIONAL HOLDINGS (GERMANY) GMBH

as Pledgor

 

THE BANK OF NEW YORK MELLON

as Collateral Agent and Pledgee

 

SHARE PLEDGE AGREEMENT RELATING TO THE SHARES IN

CLOSURE SYSTEMS INTERNATIONAL DEUTSCHLAND GMBH

(Geschäftsanteilsverpfändung)

 

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

 

 

Contents

	 	 	 	 	 
	Clause	 	Page	 
	1. Definitions and Language
	 	 	10	 
	 
	2. Pledged Shares
	 	 	16	 
	 
	3. Pledge
	 	 	16	 
	 
	4. Scope of the Pledges
	 	 	16	 
	 
	5. Purpose of the Pledges
	 	 	17	 
	 
	6. Exercise of Membership Rights
	 	 	18	 
	 
	7. Enforcement of the Pledges
	 	 	18	 
	 
	8. Limitations on Enforcement
	 	 	19	 
	 
	9. Approval and Confirmation
	 	 	22	 
	 
	10. Undertakings of the Pledgor
	 	 	22	 
	 
	11. Delegation
	 	 	23	 
	 
	12. Indemnity
	 	 	24	 
	 
	13. No Liability
	 	 	24	 
	 
	14. Duration and Independence
	 	 	24	 
	 
	15. Release of Pledge (Pfandfreigabe)
	 	 	25	 
	 
	16. Partial Invalidity; Waiver
	 	 	25	 
	 
	17. Amendments
	 	 	26	 
	 
	18. Notices and their Language
	 	 	26	 
	 
	19. Notification
	 	 	28	 
	 
	20. Applicable Law, Jurisdiction
	 	 	28	 
	 
	Schedule 1 Lists of Current Borrowers, Current Guarantors, Current
Senior Secured Notes Guarantors, Current October 2010 Secured Notes
Guarantors and Original February 2011 Secured Notes Guarantors
	 	 	30	 
	 
	Part 1 List of Current Borrowers
	 	 	30	 
	 
	Part 2 List of Current Guarantors
	 	 	30	 
	 
	Part 3 List of Current Senior Secured Notes Guarantors
	 	 	35	 
	 
	Part 4 List of Current October 2010 Secured Notes Guarantors
	 	 	40	 
	 
	Part 5 List of Original February 2011 Secured Notes Guarantors
	 	 	44	 
	 
	Schedule 2 Copy of Shareholders List (Gesellschafterliste)
	 	 	49	 

- 1 -

 

Deed Register No. 86 / 2011-G.

Recorded

in Frankfurt am Main on March 2, 2011

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

Dr. Olaf Gerber

with my official place of business in Frankfurt am Main

appeared today:

	1.	 	Dr. David Witzel, born 5 February 1975, whose business address is Taubenstraße 7-9, 60313
Frankfurt am Main, and who is personally known to the notary.

	2.	 	Tsampikos Trigenis, born 2 January 1973, whose business address is Bockenheimer Landstraße
24, 60323 Frankfurt am Main, and who identified himself by presenting his valid passport.

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

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

- 2 -

 

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

- 3 -

 

	 	 	Weilheimer Straße 5, 79761 Waldshut-Tiegen, Germany, which is registered in the commercial
register (Handelsregister) of the local court (Amtsgericht) of Freiburg i. Br. under HRB
702482
	 
	 	 	presenting a power of attorney dated February 28, 2011, a copy of which is attached to this deed,
	 
	j)	 	SIG International Services GmbH, a limited liability company (Gesellschaft mit
beschränkter Haftung) organised under the laws of the Federal Republic of Germany having
its corporate seat in Linnich, Germany and its business address at Rurstraße 58, 52441
Linnich, Germany, which is registered in the commercial register (Handelsregister) of the
local court (Amtsgericht) of Düren under HRB 3925
	 
	 	 	presenting a power of attorney dated February 28, 2011, a copy of which is attached to this deed,
	 
	k)	 	SIG Information Technology GmbH, a limited liability company (Gesellschaft mit
beschränkter Haftung) organised under the laws of the Federal Republic of Germany having
its corporate seat in Linnich, Germany and its business address at Rurstraße 58, 52441
Linnich, Germany, which is registered in the commercial register (Handelsregister) of the
local court (Amtsgericht) of Düren under HRB 4050
	 
	 	 	presenting a power of attorney dated February 28, 2011, a copy of which is attached to this deed,
	 
	l)	 	SIG Combibloc GmbH, a limited liability company (Gesellschaft mit beschränkter Haftung)
organised under the laws of the Federal Republic of Germany having its corporate seat in
Linnich, Germany and its business address at Rurstraße 58, 52441 Linnich, Germany, which is
registered in the commercial register (Handelsregister) of the local court (Amtsgericht) of
Düren under HRB 5182
	 
	 	 	presenting a power of attorney dated February 28, 2011, a copy of which is attached to this deed,
	 
	m)	 	SIG Vietnam Beteiligungs GmbH, a limited liability company (Gesellschaft mit
beschränkter Haftung) organised under the laws of the Federal Republic of Germany having
its corporate seat in Waldshut-Tiengen, Germany and its business address at Weilheimer
Straße 5, 79761 Waldshut-Tiegen, Germany, which is registered in the commercial register
(Handelsregister) of the local court (Amtsgericht) of Freiburg i. Br. under HRB 621587
	 
	 	 	presenting a power of attorney dated February 28, 2011, a copy of which is attached to this deed,
	 
	n)	 	Pactiv Deutschland Holdinggesellschaft mbH, a limited liability company (Gesellschaft
mit beschränkter Haftung) organised under the laws of the Federal Republic of Germany,
having its business address at Friedensallee 23-25, 22765 Hamburg, Germany, which is
registered in the commercial register (Handelsregister) of the local court (Amtsgericht) of
Hamburg under HRB 71774

- 4 -

 

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

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

	 	 	The Bank of New York Mellon, having its business address at 1 Wall Street, New York, NY
10286, The United States of America,

	 	 	presenting a power of attorney dated December 29, 2010, a copy of which is attached to this
deed;

- 5 -

 

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

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

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

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

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

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

Share Pledge Agreements

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

The Notary advised the persons appearing:

	 	•	 	that a pledge is a security instrument of strictly accessory nature (which means that it
comes into legal existence only if, to the extent that, and as long as, the underlying
secured claims do in fact exist, and that the owners of the secured claims and the pledgees
must be identical);
	 
	 	•	 	that notwithstanding Section 16 para 3 German Limited Liability Companies Act (Gesetz
betreffend die Gesellschaft mit beschränkter Haftung) there is no bona fide creation,
acquisition nor ranking of a pledge of shares/interests (in the sense that the pledgees are
protected if the shares/interests purported to be pledged do not exist or have been
previously encumbered for the benefit of a third party); and
	 
	 	•	 	that the English original version of this Agreement will not be acceptable for
enforcement but will have to be translated, by a certified translator, into German for such
purposes.
	 
	 	 	 	This deed with appendices 1 to 9 including their schedules 1 but excluding their table of contents
was read aloud by the notary to the deponents, was approved by the deponents and was signed by the
deponents and the notary in their own hands as follows:

	 	 	 	 	 

	/s/ Dr. Olaf Gerber

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

- 6 -

 

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

BETWEEN:

	(1)	 	Closure Systems International Holdings (Germany) GmbH, a limited liability company
(Gesellschaft mit beschränkter Haftung) organised under the laws of the Federal Republic of
Germany, having its business address at Mainzer Straße 185, 67547 Worms, Germany, which is
registered in the commercial register (Handelsregister) of the local court (Amtsgericht) of
Mainz under HRB 41388 (the “Pledgor”);

	(2)	 	Closure Systems International Deutschland GmbH, a limited liability company (Gesellschaft mit
beschränkter Haftung) organised under the laws of the Federal Republic of Germany having its
corporate seat in Worms, Germany and its business address at Mainzer Straße 185, 67547 Worms,
Germany, which is registered in the commercial register (Handelsregister) of the local court
(Amtsgericht) of Mainz under HRB 10054 (the “Company”); and

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

WHEREAS:

	(A)	 	Pursuant to a multi-currency term and revolving credit agreement dated 5 November 2009 (as
amended and/or restated by the Amendment No.1 (as defined below), by the Amendment No. 2 and
Incremental Term Loan Assumption Agreement (as defined below), by the Amendment No. 3 and
Incremental Term Loan Assumption Agreement (as defined below) and by the Amendment No. 4 and
Incremental Term Loan Assumption Agreement (as defined below)) between, inter alia, the
parties listed in Part 1 of Schedule 1 hereto as current borrowers (the “Current Borrowers”),
the parties listed in Part 2 of Schedule 1 hereto as current guarantors (the “Current
Guarantors”), Credit Suisse AG, Cayman Islands Branch (formerly Credit Suisse Cayman Islands
Branch) as administrative agent and others (as further amended, varied, novated, restated,
supplemented, superseded or extended from time to time, the “Credit Agreement”), certain
lenders (together the “Original Lenders”) have granted certain facilities to the Current
Borrowers and certain other entities which may accede or may have acceded to the Credit
Agreement as additional borrowers.

	(B)	 	Pursuant to a senior secured notes indenture dated 5 November 2009 between, inter alia,
Reynolds Group Issuer LLC, Reynolds Group Issuer Inc., and Reynolds Group Issuer (Luxembourg)
S.A as issuers (the “Issuers”), certain affiliates of the Issuers listed in Part 3 of
Schedule 1 as current senior secured notes guarantors (the “Current Senior Secured Notes
Guarantors”) and The Bank of New York Mellon, as indenture trustee, principal paying agent,
transfer agent and registrar, (as amended, varied, novated, supplemented, superseded or
extended from time to time, the “Senior Secured Notes Indenture”), the Issuers have issued
senior secured notes due 2016 in

- 7 -

 

	 	 	the aggregate principal amount of USD 1,125,000,000 (the “US Secured Notes”) and senior
secured notes due 2016 in the aggregate principal amount of EUR 450,000,000 (the “Euro
Secured Notes” and together with the US Secured Notes the “Senior Secured Notes”) to certain
noteholders.

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

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

	(E)	 	The Pledgor has entered into the Existing Share Pledge Agreements (as defined below).

	(F)	 	As a result of the amendment No. 4 and incremental term loan assumption agreement dated 9
February 2011 relating to the Credit Agreement between, inter alia, the Current Borrowers, the
Current Guarantors, Credit Suisse AG, Cayman Islands Branch (formerly Credit Suisse, Cayman
Islands Branch) as administrative agent and others (the “Amendment No. 4 and Incremental Term
Loan Assumption Agreement”) the Credit Agreement inter alia includes new incremental term
facilities.

	(G)	 	The Pledgor has agreed to grant an additional pledge (subject to the pledges arising under
the Existing Share Pledge Agreements (as defined below)) over its Shares (as defined below) in
the Company as security for the Pledgee’s claims against the

- 8 -

 

	 	 	Grantors (as defined below) (or any of them) in respect of the Obligations (as defined
below).

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

NOW, IT IS AGREED as follows:

1.     DEFINITIONS AND LANGUAGE

	1.1	 	In this Agreement:

	 	 	“Administrative Agent” means Credit Suisse AG, Cayman Islands Branch, having its business
address at Eleven Madison Avenue, New York, NY 10010, United States of America in its
capacity as administrative agent under the Credit Agreement and any successor appointed as
administrative agent under the Credit Agreement.

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

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

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

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

	 	 	“Borrowers” means the Current Borrowers and any entity which may accede to the Credit
Agreement as an additional borrower and “Borrower” means any of them.

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	 	 	“Cash Management Bank” shall mean Citibank N.A., Banco Nacional De Mexico S.A.,
Citibank International PLC, UK, Citibank (China) Co., Limited, Citibank Global Markets
Deutschland AG & Co KGaA, Citibank ZRT, Hungary, a Lender, the Administrative Agent or any
of the Lender’s or the Administrative Agent’s affiliates (at the time the cash management
services arrangement is entered into) provided in each case it has become a party to, or by
execution of an additional bank secured party acknowledgment has agreed to be bound by the
terms of, the First Lien Intercreditor Agreement in its capacity as cash management bank.
	 
	 	 	“Cash Management Services” shall mean any agreement or arrangement by a Cash Management
Bank to provide any composite accounting or other cash pooling arrangements and netting,
overdraft protection and other arrangements with any bank arising under standard business
terms of such Cash Management Bank to a Grantor.
	 
	 	 	“Credit Documents” shall mean the Loan Documents, the Senior Secured Notes Documents,
the October 2010 Secured Notes Documents and the February 2011 Secured Notes Documents.
	 
	 	 	“Enforcement Event” shall mean an Event of Default.
	 
	 	 	“Event of Default” means any event of default (Kündigungsgrund) under the Credit
Agreement and/or the Senior Secured Notes Indenture and/or the October 2010 Secured Notes
Indenture and/or the February 2011 Secured Notes Indenture.
	 
	 	 	“Existing Intercreditor Agreement” means the existing intercreditor agreement dated 11
May 2007 (as amended by a letter dated 21 June 2007 and a further letter dated 29 June 2007,
as amended and restated on 5 November 2009 and as further amended on 5 November 2010)
between, inter alia, Beverage Packaging Holdings (Luxembourg) I S.A., Rank Group Holdings
Limited (now Reynolds Group Holdings Limited), Beverage Packaging Holdings (Luxembourg) II
S.A., Beverage Packaging Holdings (Luxembourg) III S.à r.l., Credit Suisse AG (formerly
Credit Suisse) as security trustee and others.
	 
	 	 	“Existing Share Pledge Agreements” means

	 	a)	 	the share pledge agreement dated 5 November 2009 (as amended by a confirmation
and amendment agreement dated 4 May 2010) entered into between Closure Systems
International Holdings (Germany) GmbH as pledgor and The Bank of New York Mellon as
Collateral Agent and as pledgee and others as pledgees;
	 
	 	b)	 	a confirmation and amendment agreement dated 4 May 2010 entered into between,
inter alios, Closure Systems International Holdings (Germany) GmbH as pledgor and
The Bank of New York Mellon as Collateral Agent and others (the “Confirmation and
Amendment Agreement”); and

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	 	c)	 	the share pledge agreement dated 16 November 2010 entered into between Closure
Systems International Holdings (Germany) GmbH as pledgor and The Bank of New York Mellon as
Collateral Agent and as pledgee.
	 
	 	 	 	“Existing Shares” has the meaning given to such term in sub-Clause 2.1 hereof.
	 
	 	 	 	“February 2011 Secured Notes Documents” shall mean the February 2011 Secured Notes
Indenture, the February 2011 Secured Notes Guarantees, the February 2011 Secured Notes, the
Intercreditor Arrangements, any supplemental indenture, any security document relating to
the February 2011 Secured Notes and/or the February 2011 Secured Notes Indenture and any
other document that may be entered into pursuant to any of the foregoing.
	 
	 	 	 	“February 2011 Secured Notes Guarantees” shall mean the guarantees of the obligations
of the Issuers under the February 2011 Secured Notes and the February 2011 Secured Notes
Indenture by the February 2011 Secured Notes Guarantors.
	 
	 	 	 	“February 2011 Secured Notes Guarantors” means the Original February 2011 Secured Notes
Guarantors and any entity which may accede to the February 2011 Secured Notes Indenture as
additional guarantor.
	 
	 	 	 	“February 2011 Secured Notes Holders” shall mean the holders from time to time of the
February 2011 Secured Notes.
	 
	 	 	 	“February 2011 Secured Notes Indenture Trustee” shall mean The Bank of New York Mellon,
in its capacity as indenture trustee under the February 2011 Secured Notes Indenture and any
successor appointed as indenture trustee under the February 2011 Secured Notes Indenture.
	 
	 	 	 	“Future Shares” means all additional shares in the capital of the Company (irrespective
of their nominal value) which the Pledgor may acquire in the future in the event of a share
transfer, a share split, a share combination, an increase of the capital of the Company
(including by way of authorised capital (genehmigtes Kapital)) or otherwise.
	 
	 	 	 	“Grantors” means the Loan Parties, the Issuers, the Senior Secured Notes Guarantors, the
October 2010 Secured Notes Guarantors and the February 2011 Secured Notes Guarantors and any
person that has granted a security interest to the Collateral Agent and/or the Secured
Parties in respect of the obligations of the Loan Parties, the Issuers and the Senior
Secured Notes Guarantors under the Credit Documents and “Grantor” means any of them.
	 
	 	 	 	“Group” means Reynolds Group Holdings Limited and its direct or indirect subsidiaries
(Tochtergesellschaften).
	 
	 	 	 	“Hedge Counterparty” means a Lender, the Administrative Agent or any of the Lender’s or
the Administrative Agent’s affiliates (at the time a hedging agreement is entered into) who
has entered into a hedging agreement for the purpose of hedging

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	 	 	interest rate liabilities and/or any exchange rate and/or commodity price risks provided it
has become a party, or by execution of an additional bank secured party acknowledgment has
agreed to be bound by the terms of, to the First Lien Intercreditor Agreement in its
capacity as hedge counterparty.
	 
	 	 	“Incremental Assumption Agreement” shall mean an incremental assumption agreement
relating to incremental facilities of up to USD 750,000,000 among, and in form and substance
reasonably satisfactory to, one or more Borrowers, the Administrative Agent, one or more
Incremental Term Lenders and/or one or more Incremental Revolving Credit Lenders pursuant to
which one or more Incremental Term Lenders make available Incremental Term Loan Commitments
and/or one or more Incremental Revolving Credit Lenders make available Incremental Revolving
Credit Commitments respectively.
	 
	 	 	“Incremental Revolving Credit Lender” shall mean a Lender with an Incremental Revolving
Credit Commitment or an outstanding revolving loan under the Credit Agreement of any class
as a result of an Incremental Revolving Credit Commitment.
	 
	 	 	“Incremental Revolving Credit Commitment” shall mean the commitment of any Lender,
established pursuant to the Credit Agreement, to make available certain revolving credit
loans to one or more Borrowers.
	 
	 	 	“Incremental Term Lender” shall mean a Lender with an Incremental Term Loan Commitment.
	 
	 	 	“Incremental Term Loan Commitment” shall mean the commitment of any Lender, established
pursuant to the Credit Agreement, to make available certain term loans to one or more
Borrowers.
	 
	 	 	“Indenture Trustee” shall mean The Bank of New York Mellon, in its capacity as
indenture trustee under the Senior Secured Notes Indenture and any successor appointed as
indenture trustee under the Senior Secured Notes Indenture.
	 
	 	 	“Intercreditor Arrangements” means the First Lien Intercreditor Agreement and the
Existing Intercreditor Agreement, in each case as amended, novated, supplemented, restated,
or modified from time to time.
	 
	 	 	“Issuing Bank” means Credit Suisse AG or any other Lender or any affiliate of Credit Suisse
AG or any other Lender that issues letters of credit or bank guarantees under the Credit
Agreement.
	 
	 	 	“Lenders” shall mean the Original Lenders and any entity which may become a lender
under the Credit Agreement in the future and “Lender” means any of them.
	 
	 	 	“Loan Documents” shall mean the Credit Agreement, the Amendment No. 1 and Joinder Agreement,
the Amendment No.1, the Amendment No. 2 and Incremental Term Loan Assumption Agreement, the
Amendment No. 3 and Incremental Term Loan Assumption Agreement, the Amendment No. 4 and
Incremental Term Loan

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

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

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	 	 	“Senior Secured Notes Guarantors” means the Current Senior Secured Notes Guarantors and
any entity which may accede to the Senior Secured Notes Indenture as additional guarantor.
	 
	 	 	“Senior Secured Notes Holders” shall mean the holders from time to time of the Senior
Secured Notes.
	 
	 	 	“Shares” means the Existing Shares and the Future Shares.
	 
	1.2	 	In this Agreement any reference in this Agreement to a “Clause” or a “sub-Clause” shall,
subject to any contrary indication, be construed as a reference to a Clause or sub-Clause
hereof.
	 
	1.3	 	This Agreement is made in the English language. For the avoidance of doubt, the English
language version of this Agreement shall prevail over any translation of this Agreement.
However, where a German translation of a word or phrase appears in the text of this Agreement,
the German translation of such word or phrase shall prevail.
	 
	2.	 	PLEDGED SHARES
	 
	2.1	 	The Company has a nominal share capital (Stammkapital) of DM 17,000,000 (in words: Deutsche
Mark seventeen million) which consists of one share (the “Existing Shares”).
	 
	2.2	 	The Pledgor is the owner of the Existing Shares and is registered as such in the shareholders
list (Gesellschafterliste) of the Company as filed (aufgenommen) with the commercial register
(Handelsregister), a copy of which is attached as Schedule 2 (Copy of Shareholders List).
	 
	3.	 	PLEDGE
	 
	3.1	 	The Pledgor hereby pledges to the Pledgee the Shares together with all ancillary rights and
claims associated with the Shares as more particularly specified in Clause 4 (the “Pledge”).
	 
	3.2	 	The Pledgee hereby accepts the Pledge.
	 
	3.3	 	The Pledge is in addition, and without prejudice, to any other security the Secured Parties
may now or hereafter hold in respect of the Obligations.
	 
	4.	 	SCOPE OF THE PLEDGES
	 
	4.1	 	The Pledge constituted by this Agreement includes:

	 	(a)	 	the present and future rights to receive:

	 	(i)	 	dividends attributable to the Shares, if any; and

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

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

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

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

	 	(a)	 	all dividends paid or payable and any other property received, receivable or
otherwise distributed in respect of or in exchange for the Shares;

	 	(b)	 	all dividends or other distributions or payments paid or payable in respect of
the Shares in connection with the partial or total liquidation or dissolution of the
Company or in connection with the reduction of the amount of the registered share
capital of the Company; and

	 	(c)	 	all cash paid, payable or otherwise distributed in respect of the principal of,
or in redemption of, or in exchange for the Shares,

	 	 	shall be forthwith delivered to the Pledgee and held as security for and on behalf of the
Secured Parties. If such proceeds or property are received by the Pledgor, they shall be
received as trustee for the benefit of the Pledgee and shall be segregated from other
property or funds of the Pledgor and shall be forthwith delivered to the Pledgee as security
in the form so received (with any necessary endorsement).

	5.	 	PURPOSE OF THE PLEDGES

	 	 	The Pledge hereunder is constituted in order to secure the prompt and complete satisfaction
of any and all Obligations. The Pledge shall also cover any future

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	 	 	extension of the Obligations and the Pledgor herewith expressly agrees that the provisions
of Section 1210 para 1 sentence 2 of the German Civil Code (Bürgerliches Gesetzbuch) shall
not apply to this Agreement.
	 
	6.	 	EXERCISE OF MEMBERSHIP RIGHTS
	 
	 	 	The membership rights, including the voting rights, attached to the Shares remain with the
Pledgor. The Pledgor may exercise its membership rights in any manner which does not
adversely affect the validity and enforceability of the Pledge, the existence of all or part
of the Shares or cause an Event of Default to occur. The Pledgor undertakes, unless
otherwise agreed between the parties, that no resolutions will be passed which would, if
passed, constitute a breach of its obligations under Clause 10 or any other obligation under
this Agreement.
	 
	7.	 	ENFORCEMENT OF THE PLEDGES
	 
	7.1	 	If (i) an Enforcement Event has occurred and is continuing and (ii) the requirements set
forth in Sections 1273 para 2, 1204 et seq. of the German Civil Code with regard to the
enforcement of the Pledge are met (Pfandreife), in particular, if any of the Obligations has
become due and payable, then in order to enforce the Pledge, the Pledgee may at any time
thereafter avail itself of all rights and remedies that a pledgee has against a pledgor under
the laws of the Federal Republic of Germany.
	 
	7.2	 	Notwithstanding Section 1277 of the German Civil Code, the Pledgee is entitled to exercise
its rights without obtaining enforceable judgment or other instrument (vollstreckbarer Titel).
The Pledgee shall be entitled to have the Pledge enforced in any manner allowed under the laws
of the Federal Republic of Germany, in particular have the Pledge sold (including at public
auction).
	 
	7.3	 	The Pledgor hereby expressly agrees that 5 (five) business days’ prior written notice to the
Pledgor of the place and time of any such sale shall be sufficient and the Pledgee shall not
be obliged to deliver any further notices (including, but not limited to the notices set out
under Section 1234 of the German Civil Code) to the Pledgor prior to such sale. The sale may
take place at any place in the Federal Republic of Germany designated by the Pledgee.
	 
	7.4	 	If the Pledgee should seek to enforce the Pledge under sub-Clause 7.1, the Pledgor shall, at
its own expense, render forthwith all necessary assistance in order to facilitate the prompt
sale of the Shares or any part thereof and/or the exercise by the Pledgee of any other right
it may have as Pledgee.
	 
	7.5	 	Whilst the requirements for enforcement under sub-Clause 7.1 are continuing, all subsequent
dividend payments attributable to the Shares and all payments based on similar ancillary
rights attributed to the Shares may be applied by the Pledgee in satisfaction in whole or in
part of the Obligations or treated as additional collateral.
	 
	7.6	 	Even if the requirements for enforcement referred to under sub-Clause 7.1 above are met, the
Pledgee shall not, whether as proxy or otherwise, be entitled to exercise the

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	 	 	voting rights attached to the Shares. However, the Pledgor shall, during the continuation of
an event which allows the Pledgee to enforce the Pledge, have the obligations and the
Pledgee shall have the rights set forth in sub-Clause 10.6 below regardless of which
resolutions are intended to be adopted.
	 
	7.7	 	The Pledgee may, in its sole discretion, determine which of several security interests, if
applicable, shall be used to satisfy the Obligations. The Pledgor hereby expressly waives its
right pursuant to Section 1230 sentence 2 of the German Civil Code to limit the realisation of
the Pledge and pledges over the shares or partnership interests in one or more other companies
to such number of pledges as are necessary to satisfy the Obligations and agrees further that
the Pledgee may decide to enforce the Pledge over the shares in the Company individually in
separate proceedings or together with pledges over shares or partnership interests in one or
more other companies at one single proceeding (Gesamtverwertung).
	 
	7.8	 	The Pledgor hereby expressly waives all defences of revocation (Einrede der Anfechtbarkeit)
and set-off (Einrede der Aufrechenbarkeit) pursuant to Sections 770, 1211 of the German Civil
Code.
	 
	7.9	 	The Pledgor hereby expressly waives its defences based on defences any Grantor might have
against any of the Obligations (Einreden des Hauptschuldners) pursuant to Section 1211 para 1
sentence 1 alternative 1 of the German Civil Code.
	 
	7.10	 	If the Pledge is enforced or if the Pledgor has discharged any of the Obligations (or any
part of them), Section 1225 of the German Civil Code (legal subrogation of claims to a pledgor
 — Forderungsübergang auf den Verpfänder) shall not apply and no rights of the Pledgee shall
pass to the Pledgor by subrogation or otherwise. Further, the Pledgor shall at no time before,
on or after an enforcement of the Pledge and as a result of the Pledgor entering into this
Agreement, be entitled to demand indemnification or compensation from the Company or the
Company’s affiliates or to assign any of these claims.
	 
	8.	 	LIMITATIONS ON ENFORCEMENT
	 
	8.1	 	The Pledgee shall be entitled to apply proceeds of an enforcement of the Pledge towards
satisfaction of the Obligations without limitation in respect of:

	 	(a)	 	all and any amounts which are owed under the Credit Documents by the Pledgor
itself, the Company or by any of their subsidiaries; and

	 	(b)	 	all and any amounts which correspond to funds that have been borrowed or
otherwise raised under the Credit Documents, in each case to the extent borrowed,
on-lent or otherwise passed on to, or issued for the benefit of, the Pledgor, the
Company or any of their subsidiaries, or for the benefit of any of their creditors and
in each case not repaid and outstanding from time to time

	 	 	(in aggregate, the “Unlimited Enforcement Amount”).

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	8.2	 	Besides an application of proceeds from an enforcement of the Pledge towards satisfaction of
the Obligations in respect of the Unlimited Enforcement Amount pursuant to Clause 8.1 above,
the Pledgee shall not be entitled to apply proceeds of an enforcement of the Pledge towards
satisfaction of the Obligations but shall return to the Pledgor proceeds of an enforcement of
the Pledge if and to the extent that:

	 	(a)	 	the Pledge secures the obligations of a Grantor which is (x) a shareholder of
the Pledgor or (y) an affiliated company (verbundenes Unternehmen) within the meaning
of section 15 of the German Stock Corporation Act (Aktiengesetz) of a shareholder of
the Pledgor (other than the Pledgor and its subsidiaries); and
	 
	 	(b)	 	the application of proceeds of an enforcement of the Pledge towards the
Obligations would have the effect of (x) reducing the Pledgor’s net assets
(Reinvermögen) (the “Net Assets”) to an amount of less than its stated share capital
(Stammkapital) or, if the Net Assets are already an amount of less than its stated
share capital, of causing such amount to be further reduced and (y) would thereby
affect the assets required for the obligatory preservation of the Pledgor’s stated
share capital (Stammkapital) according to section 30, 31 German Limited Liability
Companies Act (Gesetz betreffend die Gesellschaften mit beschränkter Haftung) provided
that the amount of the stated share capital to be taken into consideration shall be the
amount registered in the commercial register at the date hereof, and any increase of
the stated share capital registered after the date of this Agreement shall only be
taken into account if such increase has been effected with the prior written consent of
the Collateral Agent.

	8.3	 	The Net Assets shall be calculated as an amount equal to the sum of the values of the
Pledgor’s assets (consisting of all assets which correspond to the items set forth in section
266 sub-section(2) A, B and C of the German Commercial Code (Handelsgesetzbuch) less the
aggregate amount of the Pledgor’s liabilities (consisting of all liabilities and liability
reserves which correspond to the items set forth in section 266 sub-section (3) B, C and D of
the German Commercial Code), save that:

	 	(a)	 	any asset that is shown in the balance sheet with a book value (Buchwert) that
is significantly lower than the market value of such asset and that is not necessary
for the Pledgor’s business (nicht betriebsnotwendig) shall be taken into account with
its market value;
	 
	 	(b)	 	obligations under loans provided to the Pledgor by any member of the Group or
any other affiliated company shall not be taken into account as liabilities as far as
such loans are subordinated by law or by contract at least to the claims of the
unsubordinated creditors of the Pledgor; and
	 
	 	(c)	 	obligations under loans or other contractual liabilities incurred by the
Pledgor in violation of the provisions of the Credit Documents shall not be taken into
account as liabilities.

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	 	 	The Net Assets shall be determined in accordance with the generally accepted accounting
principles applicable from time to time in Germany (Grundsätze ordnungsmäßiger Buchführung)
and be based on the same principles that were applied by the Pledgor in the preparation of
its most recent annual balance sheet (Jahresbilanz).

	 	 	It being understood that the assets of the Pledgor will be assessed at liquidation values
(Liquidationswerte) if the managing directors of the Pledgor, at the time they prepare the
Management Determination (as defined below) are, due to factual or legal circumstances at
that time, in their opinion not able to make a positive prognosis as to whether the business
of the Pledgor can carry on as a going concern (positive Fortführungsprognose), in
particular when the Pledge is enforced.

	8.4	 	The limitations set out in Clause 8.2 above shall only apply if and to the extent that:

	 	(a)	 	without undue delay, but not later than within 5 business days, after receipt
of a notification by the Collateral Agent of its intention to enforce the Pledge (the
“Notice”), the Pledgor has confirmed in writing to the Collateral Agent (x) to what
extent such Pledge is up-stream or cross-stream security as described in Clause 8.2
above and (y) which amount of proceeds of an enforcement of the Pledge attributable to
the enforcement of such up-stream or cross-stream security cannot be applied towards
satisfaction of the Obligations but would have to be returned to the Pledgor as it
would otherwise cause the Net Assets of the Pledgor to fall below its stated share
capital (taking into account the adjustments set out in Clause 8.3 above) and such
confirmation is supported by evidence reasonably satisfactory to the Collateral Agent
(the “Management Determination”) and the Collateral Agent has not contested this and
argued that no or a lesser amount would be necessary to maintain the Pledgor’s stated
share capital; or

	 	(b)	 	within 20 business days from the date the Collateral Agent has contested the
Management Determination, the Collateral Agent receives from the Pledgor an up to date
balance sheet prepared by a firm of auditors of international standard and reputation
(the “Determining Auditors”) which shows the value of the Pledgor’s Net Assets (the
“Balance Sheet”). The Balance Sheet shall be prepared in accordance with the principles
set out in Clause 8.3 above, provided that the final sentence of Clause 8.3 above shall
not apply unless the Determining Auditors have in an independent assessment determined
that the assets of the Pledgor should be evaluated at liquidation values
(Liquidationswerte) in accordance with the generally accepted accounting principles
applicable from time to time in Germany (Grundsätze ordnungsmäßiger Buchführung) and
shall contain further information (in reasonable detail) relating to items to be
adjusted pursuant to Clause 8.3 above. If the Pledgor fails to deliver a Balance Sheet
within the aforementioned time period, the Pledgee shall be entitled to apply the
proceeds of an enforcement of the Pledge towards satisfaction of the Obligations
irrespective of the limitations set out in Clause 8.2 above.

- 20 -

 

	8.5	 	If the Pledgee disagrees with the Balance Sheet it shall be entitled to apply proceeds of an
enforcement of the Pledge in satisfaction of the Obligations up to an amount which, according
to the Balance Sheet, can be applied in satisfaction of the Obligations in compliance with the
limitations set out in Clause 8.2 above. In relation to any additional amounts for which the
Pledgor is liable under this Agreement, the Pledgee shall be entitled to further pursue its
claims (if any) and the Pledgor shall be entitled to prove that this amount is necessary for
maintaining its stated share capital (calculated as of the date the Pledgee has given notice
that it intends to enforce the security created under this Agreement).

	8.6	 	No reduction of the amount enforceable or applicable towards satisfaction of the Obligations
under this Clause 8 will prejudice the right of the Pledgee to continue enforcing the Pledge
(subject always to the operation of the limitations set out above at the time of such
enforcement) until full satisfaction to the claims secured.

	9.	 	APPROVAL AND CONFIRMATION

	 	 	The Pledgor as the sole shareholder of the Company hereby approves the Pledge over the
Shares and over any and all ancillary rights and claims associated with the Shares (as more
particularly specified in Clause 4) and pursuant to the articles of association of the
Company the Pledge is not subject to any approval of the Company.

	10.	 	UNDERTAKINGS OF THE PLEDGOR

	 	 	Unless otherwise agreed between the parties, during the term of this Agreement, the Pledgor
undertakes to the Pledgee:

	10.1	 	to promptly effect any contributions in cash (Bareinlage) or kind (Sacheinlage) to be made in
respect of the Shares;

	10.2	 	to inform the Pledgee promptly of any change made in the registered share capital of the
Company, or any changes made to the articles of association of the Company which would
materially adversely affect the security interest of the Pledgee and in each such case to
promptly deliver to the Pledgee a copy of the updated shareholders list (Gesellschafterliste)
and a copy of the amended articles of association (Satzung) both as filed (aufgenommen) with
the commercial register (Handelsregister);

	10.3	 	to promptly notify the Pledgee, by notification in writing of the registration of an
objection (Widerspruch) in relation to the Shares of the Pledgor in the shareholders list
(Gesellschafterliste) as filed (aufgenommen) with the commercial register (Handelsregister).

	10.4	 	to promptly notify the Pledgee, by notification in writing, of any attachment (Pfändung) in
respect of any of the Shares or any ancillary rights set out in sub-Clause 4.1 such notice to
be accompanied by any documents the Pledgee might need to defend itself against any claim of a
third party. In particular, the Pledgor shall promptly forward to the Pledgee a copy of the
attachment order

- 21 -

 

	 	 	(Pfändungsbeschluss), any transfer order (Überweisungsbeschluss) and all other documents
necessary for a defence against the attachment;

	10.5	 	in the event of any increase in the capital of the Company, not to allow, without the prior
written consent of the Pledgee (such consent not to be unreasonably withheld), any party other
than himself to subscribe for any Future Shares, and not to defeat, impair or circumvent in
any way the rights of the Pledgee created hereunder;

	10.6	 	to promptly inform the Pledgee, by notification in writing, of all matters concerning the
Company of which the Pledgor is aware which would materially adversely affect the security
interest of the Pledgee. In particular, the Pledgor shall notify the Pledgee, by notification
in writing, forthwith of any shareholders’ meeting at which a shareholders’ resolution is
intended to be adopted which would have a materially adverse effect upon the Pledge. The
Pledgor shall allow, following the occurrence and during the continuance of any of the
circumstances which permit the Pledgee to enforce the Pledge constituted hereunder in
accordance with Clause 7, the Pledgee or, as the case may be, its proxy or any other person
designated by the Pledgee, to participate in all such shareholders’ meetings of the Company as
attendants without power to vote. Subject to the provision contained in sub-Clause 14.1, the
Pledgee’s right to attend a shareholders’ meeting shall lapse immediately upon complete
satisfaction and discharge of the Obligations;

	10.7	 	to refrain from any acts or omissions, subject to the performance of its rights and duties
under the Existing Share Pledge Agreements, the purpose or effect of which is or would be the
dilution of the value of the Shares or the Shares ceasing to exist, unless permitted by the
Pledgee (acting reasonably);

	10.8	 	not to amend the articles of association of the Company to the extent that such amendment
would materially adversely affect the security interest of the Pledgee created hereunder
without the prior written consent of the Pledgee (such consent not to be unreasonably
withheld);

	10.9	 	insofar as additional declarations or actions are necessary for the creation of the Pledge in
favour of the Pledgee and at the Pledgee’s reasonable request, to make such declarations and
undertake such actions at its own costs and expenses; and

	10.10	 	for the avoidance of doubt, notification and consent requirements as set out in sub-Clauses
10.1 through 10.8 of this Agreement are deemed to be satisfied if and to the extent such
notification or consent has been delivered under the Existing Share Pledge Agreements provided
that such notification to the Pledgee or consent of the Pledgee makes reference to this
Agreement and each Existing Share Pledge Agreement.

	11.	 	DELEGATION

	 	 	The Pledgee shall have full power to delegate (either generally or specifically) the powers,
authorities and discretions conferred on it by this Agreement on such terms and conditions
as it shall see fit. The Pledgee shall only remain liable for diligently selecting and
providing initial instructions to such delegate.

- 22 -

 

	12.	 	INDEMNITY

	 	 	The Pledgor shall reimburse the Pledgee (which, for purposes of this Clause 12, shall
include its officers, directors, employees, agents and counsel) upon request for all
properly incurred, reasonable and documented out-of-pocket expenses incurred or made by it
in connection with the Credit Documents. Such expenses shall include the properly incurred,
reasonable and documented compensation and expenses, disbursements and advances of the
Pledgee’s agents, counsel, accountants and experts. The Pledgor shall indemnify the Pledgee
against any and all loss, liability, claim, taxes, costs, damage or expense (including
properly incurred, reasonable and documented attorneys’ fees and expenses) incurred by or in
connection with the acceptance or administration of the Pledgee’s performance of its duties
under this Agreement and under German law, including the costs and expenses of enforcing
this Agreement and defending itself against or investigating any claim. The obligation to
pay such amounts shall survive the payment in full or defeasance of the Obligations or the
removal or resignation of the Pledgee. The Pledgee shall notify Reynolds Group Holdings
Limited of any claim for which it may seek indemnity promptly upon obtaining actual
knowledge thereof; provided that any failure so to notify Reynolds Group Holdings Limited
shall not relieve the Pledgor of its indemnity obligations hereunder. The Pledgor may defend
itself against such claim and the Pledgee shall provide reasonable cooperation in such
defense. The Pledgee may have separate counsel and the Pledgor shall pay the properly
incurred, reasonable and documented fees and expenses of such counsel. The Pledgor need not
reimburse any expense or indemnify against any loss, liability or expense incurred by the
Pledgee through the Pledgee’s own wilful misconduct (Vorsatz) or gross negligence (grobe
Fahrlässigkeit). No provision of this Agreement shall require the Pledgee to expend or risk
its own funds or otherwise incur any financial liability in the performance of any of its
duties hereunder, or in the exercise of any of its rights or powers, if repayment of such
funds or adequate indemnity against such risk or liability is not assured to its
satisfaction.

	13.	 	NO LIABILITY

	 	 	Except as otherwise agreed between the parties to this Agreement, none of the Pledgee, its
nominee(s) or agent(s) or delegate(s) shall be liable by reason of (a) taking any action
permitted by this Agreement or (b) any neglect or default in connection with the assets and
rights subject to the security interest created hereunder, save in respect of any loss or
damage which is suffered as a result of wilful misconduct (Vorsatz) or gross negligence
(grobe Fahrlässigkeit) by the Pledgee, its nominee(s) or agent(s) or delegate(s), or (c) the
enforcement or realisation of all or any part of the security interest created hereunder.

14.    DURATION AND INDEPENDENCE

	14.1	 	This Agreement shall remain in full force and effect until complete satisfaction of the
Obligations. The Pledge shall not cease to exist, if any Grantor under the Credit Documents
has only temporarily discharged the Obligations.

- 23 -

 

	14.2	 	This Agreement shall create a continuing security and no change, amendment, or supplement
whatsoever in the Credit Documents or in any document or agreement related to any of the
Credit Documents shall affect the validity or the scope of this Agreement nor the obligations
which are imposed on the Pledgor pursuant to it.

	14.3	 	This Agreement is independent from any other security or guarantee which may have been or
will be given to the Collateral Agent. None of such other security shall prejudice, or shall
be prejudiced by, or shall be merged in any way with this Agreement.

	14.4	 	Waiving Section 418 of the German Civil Code, the Pledgor hereby agrees that the security
created hereunder shall not be affected by any transfer or assumption of the Obligations to,
or by, any third party.

	15.	 	  RELEASE OF PLEDGE (PFANDFREIGABE)

	15.1	 	Upon complete and irrevocable satisfaction of the Obligations, the Collateral Agent (as
instructed in accordance with the First Lien Intercreditor Agreement) will as soon as
reasonably practicable declare in writing the release of the Pledge (Pfandfreigabe) to the
Pledgor as a matter of record. For the avoidance of doubt, the parties are aware that upon
full and complete satisfaction of the Obligations the Pledge, due to its accessory nature
(Akzessorietät) cease to exist by operation of German mandatory law.

	15.2	 	At any time when the total value of the aggregate security granted by the Pledgor and any of
the other Grantors to secure the Obligations (the “Security”), which can be expected to be
realised in the event of an enforcement of the Security (realisierbarer Wert), exceeds 110% of
the Obligations (the “Limit”) not only temporarily, the Pledgee shall on demand of the Pledgor
release such part of the Security (Sicherheitenfreigabe) as the Pledgee (as instructed in
accordance with the First Lien Intercreditor Agreement) may in its reasonable discretion
determine so as to reduce the realisable value of the Security to the Limit.

	15.3	 	The parties acknowledge that the Pledgee (as instructed in accordance with the First Lien
Intercreditor Agreement) will declare in writing the release of the Pledge (Pfandfreigabe) to
the Pledgor as soon as reasonably practicable in accordance with, and to the extent required
by, the Intercreditor Arrangements.

16.    PARTIAL INVALIDITY; WAIVER

	16.1	 	If at any time, any one or more of the provisions hereof is or becomes invalid, illegal or
unenforceable in any respect under the law of any jurisdiction, such provision shall as to
such jurisdiction, be ineffective to the extent necessary without affecting or impairing the
validity, legality and enforceability of the remaining provisions hereof or of such provisions
in any other jurisdiction. The invalid, illegal or unenforceable provision shall be deemed to
be replaced with such valid, legal or enforceable provision which comes as close as possible
to the original intent of the parties and the invalid, illegal or unenforceable provision.
Should a gap (Regelungslücke) become

- 24 -

 

	 	 	evident in this Agreement, such gap shall, without affecting or impairing the validity,
legality and enforceability of the remaining provisions hereof, be deemed to be filled in
with such provision which comes as close as possible to the original intent of the parties.

	16.2	 	No failure to exercise, nor any delay in exercising, on the part of the Pledgee, any right or
remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise
of any right or remedy prevent any further or other exercise thereof or the exercise of any
other right or remedy. The rights and remedies provided hereunder are cumulative and not
exclusive of any rights or remedies provided by law.

	16.3	 	In particular, the Pledge shall not be affected and shall in any event extend to any and all
shares in the Company even if the number or nominal value of the Existing Shares or the
aggregate share capital of the Company as stated in Clause 2 are inaccurate or deviate from
the actual facts.

	17.	 	 AMENDMENTS

	 	 	Changes and amendments to this Agreement including this Clause 17 shall be made in writing
except where notarisation is required.

18.    NOTICES AND THEIR LANGUAGE

	18.1	 	All notices and other communications provided for herein shall be in writing and shall be
delivered by hand or overnight courier service, mailed by certified or registered mail or sent
by fax, as follows:

	 	 	 	 	 	 	 
	For the Pledgor:	 	Closure Systems International Holdings (Germany) GmbH	 
	 
	 	 	 	 	 	 
	 

	 	Address:
	 	Mainzer Straße 185,

67547 Worms, Germany	 	 
	 
	 	 	 	 	 	 
	 

	 	Telephone:
	 	+49 6241 400 10	 	 
	 
	 	 	 	 	 	 
	 

	 	Fax:
	 	+49 6241 400 187	 	 
	 
	 	 	 	 	 	 
	 

	 	Attention:
	 	Managing directors

(Geschäftsführung)	 	 

- 25 -

 

	 	 	 	 	 	 	 

	for the Pledgor
with a copy to:
	 	 	 	 
	 

	 	Address:
	 	c/o Rank Group Limited
	 
	 	 	 	 	 	 
	 

	 	 	 	Level 9
	 
	 	 	 	 	 	 
	 

	 	 	 	148 Quay Street
	 
	 	 	 	 	 	 
	 

	 	 	 	PO Box 3515
	 
	 	 	 	 	 	 
	 

	 	 	 	Auckland 1140
	 
	 	 	 	 	 	 
	 

	 	 	 	New Zealand
	 
	 	 	 	 	 	 
	 

	 	Telephone:	 	+649 3666 259
	 
	 	 	 	 	 	 
	 

	 	Fax:
	 	+649 3666 263
	 
	 	 	 	 	 	 
	 

	 	Attention:
	 	Helen Golding
	 
	 	 	 	 	 	 
	 
	 	 	 	 
	For the Pledgee:

	 	The Bank of New York Mellon
	 
	 	 	 	 
	 

	 	Address:
	 	101 Barclay Street, 4E
	 
	 	 	 	 
	 

	 	 	 	New York, N.Y. 10286
	 
	 	 	 	 
	 

	 	 	 	The United States of America
	 
	 	 	 	 
	 

	 	Telephone:
	 	+212 298 1528
	 
	 	 	 	 
	 

	 	Fax:
	 	+212 815 5366
	 
	 	 	 	 
	 

	 	Attention:
	 	International Corporate Trust

	18.2	 	Any party hereto may change its address or fax number for notices and other communications
hereunder by notice to the other parties hereto. As agreed to in writing by the parties,
notices and other communications hereunder may also be delivered by e-mail to the e-mail
address of a representative of the applicable party to this Agreement provided from time to
time by such party.

- 26 -

 

	18.3	 	All notices and other communications given to any party in connection with this Agreement in
accordance with the provisions of this Agreement shall be deemed (widerlegbare Vermutung)
received on the date sent (if a business day) and on the next business day thereafter (in all
other cases) if delivered by hand or overnight courier service or sent by fax or on the date
five business days after dispatch by certified or registered mail if mailed, in each case
delivered, sent or mailed (properly addressed) to such party as provided in this Clause18 or
in accordance with the latest unrevoked direction from such party given in accordance with
this Clause 18.
	 
	18.4	 	Any notice or other communication under or in connection with this Agreement shall be in the
English language or, if in any other language, accompanied by a translation into English. In
the event of any conflict between the English text and the text in any other language, the
English text shall prevail.
	 
	19.	 	NOTIFICATION
	 
	19.1	 	The Pledgor and the Pledgee hereby give notice of this Agreement and the Pledge of the rights
pursuant to Clause 3 and Clause 4 to the Company.
	 
	19.2	 	The Company hereby acknowledges the notification pursuant to Clause 19.1 above.
	 
	20.	 	APPLICABLE LAW, JURISDICTION
	 
	20.1	 	This Agreement is governed by the laws of the Federal Republic of Germany.
	 
	20.2	 	The place of jurisdiction for any and all disputes arising under or in connection with this
Agreement shall be the district court (Landgericht) in Frankfurt am Main. The Pledgee however,
shall also be entitled to take action against the Pledgor in any other court of competent
jurisdiction. Further, the taking of proceedings against the Pledgor in any one or more
jurisdictions shall not preclude the taking of proceedings in any other jurisdiction (whether
concurrently or not) if and to the extent permitted by applicable law.

The Notary advised the persons appearing:

	 	•	 	that a pledge is a security instrument of strictly accessory nature (which means that it
comes into legal existence only if, to the extent that, and as long as, the underlying secured
claims do in fact exist, and that the owners of the secured claims and the pledgees must be
identical);

	 	•	 	that notwithstanding Section 16 para 3 German Limited Liability Companies Act (Gesetz
betreffend die Gesellschaften mit beschränkter Haftung) there is no bona fide creation,
acquisition nor ranking of a pledge of shares (in the sense that the pledgees are not
protected if the shares purported to be pledged do not exist or have been previously
encumbered for the benefit of a third party); and

	 	•	 	that the English original version of this Agreement will not be acceptable for

- 27 -

 

	 	 	enforcement but will have to be translated, by a certified translator, into German for such
purposes.

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

- 28 -

 

SCHEDULE 1

LISTS OF CURRENT BORROWERS, CURRENT GUARANTORS,

CURRENT SENIOR SECURED NOTES GUARANTORS, CURRENT

OCTOBER 2010 SECURED NOTES GUARANTORS AND ORIGINAL

FEBRUARY 2011 SECURED NOTES GUARANTORS

PART 1

LIST OF CURRENT BORROWERS

SIG Euro Holding AG & Co. KGaA

Closure Systems International Holdings Inc.

Closure Systems International B.V.

SIG Austria Holding GmbH

Reynolds Consumer Products Holdings Inc.

Reynolds Group Holdings Inc.

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

PART 2

LIST OF CURRENT GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

 - 29 - 

 

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

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

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

Pactiv Hamburg Holdings GmbH

Pactiv Deutschland Holdinggesellschaft mbH

Omni-Pac Ekco GmbH Verpackungsmittel

 - 30 - 

 

Omni-Pac GmbH Verpackungsmittel

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

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

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

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

Reynolds Group Issuer (Luxembourg) S.A.

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

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

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

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

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

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

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

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

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

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

 - 31 - 

 

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Combibloc Ltd.

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

 - 32 - 

 

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Reynolds Group Issuer Inc.

Reynolds Group Issuer LLC

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

 - 33 - 

 

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

PART 3

LIST OF CURRENT SENIOR SECURED NOTES GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

 - 34 - 

 

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

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

Pactiv Hamburg Holdings GmbH

Pactiv Deutschland Holdinggesellschaft mbH

Omni-Pac Ekco GmbH Verpackungsmittel

Omni-Pac GmbH Verpackungsmittel

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

 - 35 - 

 

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

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

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

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

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

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

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

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

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

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

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

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

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

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

 - 36 - 

 

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Combibloc Ltd.

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

 - 37 - 

 

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

 - 38 - 

 

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

PART 4

LIST OF CURRENT OCTOBER 2010 SECURED NOTES GUARANTORS

Whakatane Mill Australia Pty Limited

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co. KG

SIG Combibloc GmbH

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

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

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

 - 39 - 

 

SIG Euro Holding AG & Co. KGaA

SIG Beverages Germany GmbH

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

Pactiv Hamburg Holdings GmbH

Pactiv Deutschland Holdinggesellschaft mbH

Omni-Pac Ekco GmbH Verpackungsmittel

Omni-Pac GmbH Verpackungsmittel

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

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

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

 - 40 - 

 

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

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

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

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

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

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

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

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

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

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

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Technology AG

SIG allCap AG

SIG Combibloc (Schweiz) AG

SIG Schweizerische Industrie-Gesellschaft AG

SIG Combibloc Procurement AG

SIG Reinag AG

SIG Holding USA Inc.

SIG Combibloc Inc.

 - 41 - 

 

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

 - 42 - 

 

BRPP, LLC

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

PART 5

LIST OF ORIGINAL FEBRUARY 2011 SECURED NOTES GUARANTORS

Whakatane Mill Australia Pty Limited

CSI Latin American Holdings Corporation

Closure Systems International (Canada) Limited

 - 43 - 

 

Evergreen Packaging Canada Limited

Reynolds Food Packaging Canada Inc.

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

SIG Holdings (UK) Limited

SIG Combibloc Limited

Closure Systems International (UK) Limited

Reynolds Consumer Products (UK) Limited

Reynolds Subco (UK) Limited

Kama Europe Limited

Ivex Holdings, Ltd.

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

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

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

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

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

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

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

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

 - 44 - 

 

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

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

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

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

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

Closure Systems International B.V.

Reynolds Consumer Products International B.V.

Evergreen Packaging International B.V.

Reynolds Packaging International B.V.

Reynolds Group Holdings Limited

Whakatane Mill Limited

SIG Combibloc Group AG

SIG Holding USA Inc.

SIG Combibloc Inc.

Closure Systems International Americas, Inc.

Closure Systems International Holdings Inc.

Closure Systems International Inc.

Reynolds Packaging Machinery Inc.

Closure Systems Mexico Holdings LLC

CSI Mexico LLC

CSI Sales & Technical Services Inc.

Bakers Choice Products, Inc.

Reynolds Consumer Products Holdings Inc.

Reynolds Consumer Products Inc.

Reynolds Foil Inc.

 - 45 - 

 

Reynolds Group Holdings Inc.

Reynolds Services Inc.

Blue Ridge Holding Corp.

Blue Ridge Paper Products Inc.

Evergreen Packaging International (US) Inc.

Evergreen Packaging Inc.

Evergreen Packaging USA Inc.

Reynolds Packaging, Inc.

Reynolds Packaging LLC

Reynolds Packaging Kama Inc.

Reynolds Food Packaging LLC

Reynolds Flexible Packaging Inc.

Southern Plastics Inc.

Ultra Pac, Inc.

BRPP, LLC

Pactiv Corporation (formerly Reynolds Acquisition Corporation)

Pactiv Factoring LLC

Pactiv RSA LLC

Pactiv Retirement Administration LLC

Pactiv Germany Holdings, Inc.

Pactiv International Holdings Inc.

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

 - 46 - 

 

PWP Industries, Inc.

Newspring Industrial Corp.

798795 Ontario Limited

Pactiv Canada Inc.

Newspring Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

 - 47 - 

 

SCHEDULE 2

COPY OF SHAREHOLDERS LIST (GESELLSCHAFTERLISTE)

 - 48 -

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