Document:

exv4w473

EXHIBIT 4.473

SIG COMBIBLOC GROUP AG, SIG EURO HOLDING AG & CO. KGAA, SIG COMBIBLOC

SYSTEMS GMBH, SIG COMBIBLOC HOLDING GMBH, SIG COMBIBLOC GMBH, SIG BEVERAGES

GERMANY GMBH, SIG COMBIBLOC ZERSPANUNGSTECHNIK GMBH, SIG INTERNATIONAL SERVICES

GMBH, SIG INFORMATION TECHNOLOGY GMBH, SIG VIETNAM BETEILIGUNGS GMBH, CLOSURE

SYSTEMS INTERNATIONAL HOLDINGS (GERMANY) GMBH, CLOSURE SYSTEMS INTERNATIONAL

DEUTSCHLAND GMBH

and

SIG TECHNOLOGY AG

as Security Grantors

and

THE BANK OF NEW YORK MELLON

as Collateral Agent

 

CONFIRMATION AND AMENDMENT AGREEMENT

(Bestätigungs- und Änderungsvertrag)

relating to certain security agreements entered in

connection with a second amended and restated senior secured multi-currency

term and revolving credit agreement dated 9 August 2011 and

a senior secured notes indenture in respect of senior

secured notes due 2016 in the aggregate principal amount of

USD 1,125,000,000 dated 5 November 2009, a senior secured

notes indenture in respect of secured notes due 2019 in the

aggregate principal amount of USD 1,500,000,000 dated 15

October 2010, a new secured notes indenture in respect of

secured notes due 2021 in the aggregate principal amount of

USD 1,000,000,000 dated 1 February 2011 and a new secured

notes indenture in respect of secured notes due 2019 in the

aggregate principal amount of USD 1,500,000,000 dated 9

August 2011

 

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
	 	 	5	 
	 
	 	 	 	 
	2. Construction
	 	 	8	 
	 
	 	 	 	 
	3. Confirmation and Amendments
	 	 	8	 
	 
	 	 	 	 
	4. Continuity and further Assurance
	 	 	15	 
	 
	 	 	 	 
	5. Partial Invalidity
	 	 	16	 
	 
	 	 	 	 
	6. Amendments
	 	 	16	 
	 
	 	 	 	 
	7. Applicable law; Jurisdiction
	 	 	16	 
	 
	 	 	 	 
	8. Conclusion of the Agreement (Vertragsschluss)
	 	 	16	 
	 
	 	 	 	 
	Schedule 1
	 	 	18	 
	 
	 	 	 	 
	Part 1 List of Current Borrowers
	 	 	18	 
	 
	 	 	 	 
	Part 2 List of Current Guarantors, Current Senior Secured Notes Guarantors, Current
October 2010 Secured Notes Guarantors and Current February 2011 Secured Notes
Guarantors
	 	 	18	 
	 
	 	 	 	 
	Part 3 List of Current New Secured Notes Guarantors
	 	 	25	 

 

 

This
CONFIRMATION AND AMENDMENT AGREEMENT (the
“Agreement”) is made on 8 September  2011

BETWEEN:

	(1)	 	SIG COMBIBLOC GROUP AG, registered in the Commercial Register of the Canton of Schaffhausen
with the federal register number CH-290.3.004.149-2;
	 
	(2)	 	SIG EURO HOLDING AG & CO. KGAA, registered in the commercial register (Handelsregister) of
the local court (Amtsgericht) of Düren under HRB 5754;
	 
	(3)	 	SIG COMBIBLOC SYSTEMS GMBH, registered in the commercial register (Handelsregister) of the
local court (Amtsgericht) of Düren under HRB 3935;
	 
	(4)	 	SIG COMBIBLOC HOLDING GMBH, registered in the commercial register (Handelsregister) of the
local court (Amtsgericht) of Düren under HRB 5751;
	 
	(5)	 	SIG COMBIBLOC GMBH, registered in the commercial register (Handelsregister) of the local
court (Amtsgericht) of Düren under HRB 5182;
	 
	(6)	 	SIG BEVERAGES GERMANY GMBH, registered in the commercial register (Handelsregister) of the
local court (Amtsgericht) of Freiburg i. Br. under HRB 702482;
	 
	(7)	 	SIG COMBIBLOC ZERSPANUNGSTECHNIK GMBH, registered in the commercial register
(Handelsregister) of the local court (Amtsgericht) of Aachen under HRB 3814;
	 
	(8)	 	SIG INTERNATIONAL SERVICES GMBH, registered in the commercial register (Handelsregister) of
the local court (Amtsgericht) of Düren under HRB 3925;
	 
	(9)	 	SIG INFORMATION TECHNOLOGY GMBH, registered in the commercial register (Handelsregister) of
the local court (Amtsgericht) of Düren under HRB 4050;
	 
	(10)	 	SIG VIETNAM BETEILIGUNGS GMBH, registered in the commercial register (Handelsregister) of the
local court (Amtsgericht) of Freiburg i.Br. under HRB 621587;
	 
	(11)	 	CLOSURE SYSTEMS INTERNATIONAL HOLDINGS (GERMANY) GMBH, registered in the commercial register
(Handelsregister) of the local court (Amtsgericht) of Mainz under HRB 41388;
	 
	(12)	 	CLOSURE SYSTEMS INTERNATIONAL DEUTSCHLAND GMBH, registered in the commercial register
(Handelsregister) of the local court (Amtsgericht) of Mainz under HRB 10054;

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	(13)	 	SIG TECHNOLOGY AG, registered in the Commercial Register of the Canton of Schaffhausen with
the federal register number CH-160.3.002.649-1; and
	 
	(14)	 	THE BANK OF NEW YORK MELLON, having its business address at 1 Wall Street, New York, N.Y.
10286, The United States of America in its capacity as collateral agent for the Secured
Parties (as defined below) under the First Lien Intercreditor Agreement (as defined below)
(the “Collateral Agent”).

(the companies named in (1) to (13) are hereinafter referred to as the “Security Grantors” and each
of them a “Security Grantor”)

WHEREAS:

	(A)	 	Pursuant to the second amended and restated senior secured multi-currency term and revolving
credit agreement dated 9 August 2011 of currently up to USD 4,445,000,000 and EUR 330,000,000,
between, inter alia, the parties listed in Schedule 1Part 1 hereto as current borrowers (the
“Current Borrowers”), the parties listed in Schedule 1Part 2 hereto as current guarantors
(the “Current Guarantors”), Credit Suisse AG as administrative agent and others (as amended,
varied, novated, restated, supplemented, superseded or extended from time to time, the “Second
Amended and Restated Credit Agreement“), which amends and restates the multi-currency term and
revolving credit agreement dated 5 November 2009 between, inter alia, Current Borrowers, the
Current Guarantors, Credit Suisse AG as administrative agent and others (as amended and
restated pursuant to the Second Amended and Restated Credit Agreement and as further amended,
varied, novated, restated, supplemented, superseded or extended from time to time, hereinafter
the “Credit Agreement”), certain lenders (together the “Original Lenders”) have agreed to
grant 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 ultimate issuers (the “Issuers”), certain affiliates of the Issuers listed in Schedule
1Part 2 hereto as current 2009 senior secured notes guarantors (the “Current Senior Secured
Notes Guarantors”) and The Bank of New York Mellon, as indenture trustee, principal paying
agent, transfer agent and registrar, (as amended, varied, novated, supplemented, superseded or
extended from time to time, the “Senior Secured Notes Indenture”), the Issuers have issued
senior secured notes due 2016 in the aggregate principal amount of USD 1,125,000,000 (the “US
Secured Notes”) and senior secured notes due 2016 in the aggregate principal amount

- 2 -

 

	 	 	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
US Escrow I LLC, RGHL US Escrow I Inc., and RGHL Escrow 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 additional 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 1 Part 2 hereto have acceded to the October 2010 Secured Notes
Indenture as current 2010 October secured notes 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 additional 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 1 Part 2 hereto as current February 2011 secured
notes guarantors (the “Current February 2011 Secured Notes Guarantors”).
	 
	(E)	 	Pursuant to the Credit Agreement, the Senior Secured Notes Indenture, the October 2010
Secured Notes Indenture and the February 2011 Secured Notes Indenture the Security Grantors
have entered into the Security Agreements (as defined below).
	 
	(F)	 	Pursuant to a senior secured notes indenture dated 9 August 2011 between, inter alia, the
RGHL US Escrow II LLC and RGHL US Escrow II Inc. as escrow issuers (the “August 2011 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

- 3 -

 

	 	 	of New York Mellon as collateral agent and Wilmington Trust (London) Limited as additional
collateral agent (as amended, varied, novated, supplemented, superseded or extended from
time to time, the “New Secured Notes Indenture”), the August 2011 Escrow Issuers have issued
senior secured notes due 2019 in the aggregate principal amount of USD 1,500,000,000 (the
“New Secured Notes”). In connection with the release from escrow of the proceeds of the New
Secured Notes, RGHL US Escrow II Inc. and RGHL US Escrow II LLC shall be merged with and
into Reynolds Group Issuer Inc., and Reynolds Group Issuer LLC (together with Reynolds Group
Issuer (Luxembourg) S.A., the “August 2011 Ultimate Issuers”), respectively, and the
obligations of the August 2011 Escrow Issuers shall be assumed by the August 2011 Ultimate
Issuers pursuant to one or more supplemental indentures between, among others, the August
2011 Escrow Issuers, the August 2011 Ultimate Issuers, The Bank of New York Mellon, as
trustee, principal paying agent, transfer agent, registrar and collateral agent and
Wilmington Trust (London) Limited, as additional collateral agent. At such time certain
affiliates of the August 2011 Ultimate Issuers listed in Schedule 1 Part 3 hereto as current
new secured notes guarantors (the “Current New Secured Notes Guarantors”) will accede to the
New Secured Notes Indenture.
	 
	(G)	 	As a result of the Second Amended and Restated Credit Agreement and the amendment no. 6 and
incremental term loan assumption agreement dated 9 August 2011 between, inter alia, the
Current Borrowers, the Current Guarantors, Credit Suisse AG, Cayman Islands Branch as
administrative agent and others (the “Amendment No. 6 and Incremental Term Loan Assumption
Agreement”) certain lenders have agreed to grant, inter alia, incremental term loans in an
aggregate amount of up to USD 2,000,000,000.
	 
	(H)	 	It has been agreed in the Security Agreements (as defined below) that any reference in such
Security Agreement (as defined below) to the “Credit Agreement” is a reference to the Credit
Agreement as amended, varied, novated, restated, supplemented, superseded or extended from
time to time, including pursuant to the Second Amended and Restated Credit Agreement and the
Amendment No. 6 and Incremental Term Loan Assumption Agreement, and that any reference to the
Senior Secured Notes Documents is a reference to the Senior Secured Notes Documents as
amended, varied, novated, restated, supplemented, superseded or extended from time to time,
including the October 2010 Secured Notes Documents, the February 2011 Secured Notes Documents
(as defined below) and the New Secured Notes Documents (as defined below). Each Security
Grantor has agreed to enter into this Agreement and to confirm as a matter of utmost
precaution (höchst vorsorglich) the security created pursuant to the Security Agreements (as
defined below) in order to ensure that the Security Agreements continue to secure the
Obligations (as defined in the Security Agreements) and extend to all Obligations (as defined
in the Amended Security

- 4 -

 

	 	 	Agreements) (as defined below) of the Grantors (as defined in the Amended Security
Agreements) under or in connection with the Second Amended and Restated Credit Agreement and
the Amendment No. 6 and Incremental Term Loan Assumption Agreement and the New Secured Notes
Documents.

NOW IT IS HEREBY AGREED as follows:

	Definitions and Language

	Definitions

	 	 	In this Agreement:

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

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

global assignment agreement dated 5 November 2009 and entered into between SIG Euro Holding
AG & Co. KGaA as assignor and The Bank of New York Mellon as collateral agent

global assignment agreement dated 5 November 2009 and entered into between SIG Combibloc
Holding GmbH as assignor and The Bank of New York Mellon as collateral agent;

the global assignment agreement dated 5 November 2009 and entered into between SIG
Combibloc Systems GmbH as assignor and The Bank of New York Mellon as collateral agent;

the global assignment agreement dated 5 November 2009 and entered into between SIG
Beverages Germany GmbH as assignor and The Bank of New York Mellon as collateral agent;

the global assignment agreement dated 5 November 2009 and entered into between SIG
Combibloc GmbH as assignor and The Bank of New York Mellon as collateral agent;

the global assignment agreement dated 5 November 2009 and entered into between SIG
Combibloc Zerspanungstechnik GmbH as assignor and The Bank of New York Mellon as
collateral agent;

- 5 -

 

the global assignment agreement dated 5 November 2009 and entered into between SIG
Vietnam Beteiligungs GmbH as assignor and The Bank of New York Mellon as collateral
agent;

the global assignment agreement dated 5 November 2009 and entered into between SIG
International Services GmbH as assignor and The Bank of New York Mellon as collateral
agent;

the global assignment agreement dated 5 November 2009 and entered into between SIG
Information Technology GmbH as assignor and The Bank of New York Mellon as collateral
agent;

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

the global assignment agreement dated 5 November 2009 and entered into between
Closure Systems International Deutschland GmbH as assignor and the collateral agent;

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

	 	 	(each as confirmed and amended pursuant to amendment and confirmation agreements dated 4 May
2010, 16 November 2010 and 2 March 2011) and “Global Assignment Agreement” means any of
them.

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

the IP assignment agreement dated 5 November 2009 and entered into between SIG
Combibloc Systems GmbH as assignor and The Bank of New York Mellon as collateral agent;

the IP assignment agreement dated 5 November 2009 and entered into between SIG
Combibloc GmbH as assignor and The Bank of New York Mellon as collateral agent;

the IP assignment agreement dated 2 December 2009 and entered into between SIG
Technology AG as assignor and The Bank of New York Mellon as collateral agent (the
“Swiss IP Assignment Agreement 1”);

- 6 -

 

the IP assignment agreement dated 2 December 2009 and entered into between SIG
Finanz AG (now assumed by SIG Combibloc Group AG due to the merger with SIG Finanz AG
effective June 15, 2010) as assignor and The Bank of New York Mellon as collateral
agent (the “Swiss IP Assignment Agreement 2”, together with the Swiss IP Assignment
Agreement 1, the “Swiss IP Assignment Agreements” and “Swiss IP Assignment Agreement”
means any of them);

	 	 	((a), (b) and (c) each as confirmed and amended pursuant to amendment and confirmation
agreements dated 4 May 2010, 16 November 2010 and 2 March 2011; and (d) as confirmed and
amended pursuant to amendment and confirmation agreements dated 4 May 2010, 16 November
2010, 1 February 2011 and 9 February 2011) and “IP Assignment Agreement” means any of them.

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

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

security transfer agreement dated 5 November 2009 and entered into between SIG Combibloc
Systems GmbH as transferor and The Bank of New York Mellon as collateral agent;

the security transfer agreement dated 5 November 2009 and entered into between SIG
Combibloc GmbH as transferor and The Bank of New York Mellon as collateral agent;

the security transfer agreement dated 5 November 2009 and entered into between SIG
Combibloc Zerspanungstechnik GmbH as transferor and The Bank of New York Mellon as
collateral agent;

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

	 	 	(each as confirmed and amended pursuant to amendment and confirmation agreements dated 4 May
2010, 16 November 2010 and 2 March 2011) and “Security Transfer Agreement” means any of
them.

	 	 	“Security Purpose Agreement” means the security purpose agreement dated 5 November 2009 (as
confirmed and amended pursuant to amendment and confirmation agreements dated 4 May 2010, 16
November 2010 and 2 March 2011) and entered

- 7 -

 

into between SIG Combibloc GmbH and Closure Systems International Deutschland Real Estate
GmbH & Co. KG (now collapsed into Closure Systems International Deutschland GmbH) as
chargors and the The Bank of New York Mellon as collateral agent relating to certain land
charges.

Construction

Any reference in this Agreement to a “Clause”, a “sub-Clause” or a “Schedule” shall, subject to
any contrary indication, be construed as a reference to a Clause, a sub-Clause or a Schedule
in this Agreement.

To the extent the word “note” or “Note” is used herein and/or 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.

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.

This Agreement amends the Security Agreements on the terms set forth herein, and, for the purposes
of interpretation, is hereby incorporated into the Security Agreement as of the date hereof
and shall form a part thereof.

In this Agreement capitalised terms not otherwise defined herein shall have the meaning
attributed thereto (including in the recitals) in the Security Agreement.

	 	 	Confirmation and Amendments
	 
	 	 	The Collateral Agent and each Security Grantor hereby agree that

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

	 	“(A)	 	 Pursuant to the second amended and restated senior secured multi-currency term
and revolving credit agreement dated 9 August 2011 of currently up to USD 4,445,000,000
and EUR 330,000,000, between, inter alia, the parties listed in Schedule 1 Part 1
hereto as current borrowers (the “Current Borrowers”), the parties listed in Schedule
1Part 2 hereto as current guarantors (the “Current Guarantors”), Credit Suisse AG as
administrative agent and others (as amended, varied, novated, restated, supplemented,
superseded or extended from time to time, the “Second Amended and Restated Credit

- 8 -

 

	 	 	 	Agreement”), which amends and restates the multi-currency term and revolving credit
agreement dated 5 November 2009 between, inter alia, the Current Borrowers, the
Current Guarantors, Credit Suisse AG as administrative agent and others (as amended
and restated pursuant to the Second Amended and Restated Credit Agreement and as
further amended, varied, novated, restated, supplemented, superseded or extended
from time to time, hereinafter the “Credit Agreement”), certain lenders (together
the “Original Lenders”) have agreed to grant certain facilities to the Current
Borrowers and certain other entities which may accede or may have acceded to the
Credit Agreement as additional borrowers.”

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

	 	 	 	“(E) Pursuant to a senior secured notes indenture dated 1 February 2011 between,
inter alia, the Issuers, The Bank of New York Mellon as indenture trustee, The Bank of
New York Mellon, London Branch as principal paying agent, The Bank of New York Mellon
as collateral agent and Wilmington Trust (London) Limited as additional 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 in
Schedule 1 Part 2 hereto as current February 2011 secured notes guarantors (the
“Current February 2011 Secured Notes Guarantors”).”

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

	 	 	 	“(F) Pursuant to a senior secured notes indenture dated 9 August 2011 between, inter
alia, the RGHL US Escrow II LLC and RGHL US Escrow II Inc. as escrow issuers (the
“August 2011 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 “New Secured Notes Indenture”), the August 2011 Escrow Issuers have issued secured
notes due 2019 in the aggregate principal amount of USD 1,500,000,000 (the “New
Secured Notes”). In connection with the release

- 9 -

 

	 	 	 	from escrow of the proceeds of the New Secured Notes, RGHL US Escrow II Inc. and
RGHL US Escrow II LLC shall be merged with and into Reynolds Group Issuer Inc., and
Reynolds Group Issuer LLC (together with Reynolds Group Issuer (Luxembourg) S.A.,
the “August 2011 Ultimate Issuers”), respectively, and the obligations of the August
2011 Escrow Issuers shall be assumed by the August 2011 Ultimate Issuers pursuant to
one or more supplemental indentures between, among others, the August 2011 Escrow
Issuers, the August 2011 Ultimate Issuers, The Bank of New York Mellon, as trustee,
principal paying agent, transfer agent, registrar and collateral agent and
Wilmington Trust (London) Limited, as additional collateral agent. At such time
certain affiliates of the August 2011 Ultimate Issuers listed in Schedule 1 Part 3
hereto as current new secured notes guarantors (the “Current New Secured Notes
Guarantors”) will accede to the New Secured Notes Indenture.”

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

	 	 	 	“(G) As a result of the Second Amended and Restated Credit Agreement and the
amendment no. 6 and incremental term loan assumption agreement dated 9 August 2011
between, inter alia, the Current Borrowers, the Current Guarantors, Credit Suisse AG,
Cayman Islands Branch as administrative agent and others (the “Amendment No. 6 and
Incremental Term Loan Assumption Agreement”) certain lenders have agreed to grant,
inter alia, incremental term loans in an aggregate amount of up to USD 2,000,000,000.”

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

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

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

- 10 -

 

	 	•	 	inserting the following new definitions at the appropriate
place within the alphabetical order with the following wording:

	 	 	 	“Amendment No. 5” means the amendment dated 11 March 2011 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. 6 and Incremental Term Loan Assumption Agreement” means the
amendment and incremental term loan assumption agreement dated 9 August 2011
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.

	 	 	 	“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 Current 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.

- 11 -

 

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

	 	 	 	“New Secured Notes Guarantees” shall mean the guarantees of the obligations
of the August 2011 Escrow Issuers and/or of the August 2011 Ultimate Issuers
under the New Secured Notes and the New Secured Notes Indenture by the New
Secured Notes Guarantors.

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

“New Secured Notes Holders” shall mean the holders from time to time of the
New Secured Notes.

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

	 	•	 	adding the words the “New Secured Notes Documents” and the
“February 2011 Secured Notes Documents”, after the words the “October 2010
Secured Notes Documents” and the words the “Senior Secured Notes Documents,” in
the definition of “Credit Documents”.

	 	•	 	adding the words “and/or Section 6.01 of the October 2010
Secured Notes Indenture” and the words “and/or Section 6.01 of the February
2011 Secured Notes Indenture”, before the words “and/or Section 6.01 of the
Senior Secured Notes Indenture” and before the words “and/or Section 6.01 of
the New Secured Notes Indenture”, in the definition of “Default”.

	 	•	 	adding the words “and/or the New Secured Notes Indenture” and
“and/or the February 2011 Secured Notes Indenture”, after the words “and/or the
Senior Secured Notes Indenture” and the words “and/or the October 2010 Secured
Notes Indenture”, in the definition of “Event of Default”.

- 12 -

 

	 	•	 	adding the words “and the New Secured Notes Guarantors” and the
words “and the February 2011 Secured Notes Guarantors”, after the words the
“October 2010 Secured Notes Guarantors” and the “Senior Secured Notes
Guarantors,” in the definition of “Grantors”.

	 	•	 	replacing the number “750,000,000” with the number
“2,000,000,000” in the definition of “Incremental Assumption Agreement”.

	 	•	 	adding the words “the New Secured Notes Indenture” and “the
February 2011 Secured Notes Indenture”, after the words “the Senior Secured
Notes Indenture” and “the October 2010 Secured Notes Indenture” in the
definition of “Principal Finance Documents”.

	 	•	 	adding the words “the New Secured Notes Holders” and “the
February 2011 Secured Notes Holders,” after the words “the Senior Secured Notes
Holders” and “the October 2010 Secured Notes Holders” and the words “the New
Secured Notes Indenture Trustee” and “the February 2011 Secured Notes Indenture
Trustee,” after the words “the Indenture Trustee” and “the October 2010 Secured
Notes Indenture Trustee” in the definition of “Secured Parties”.

	 	 	 	adding the words “the Amendment No. 5”, “the Amendment No. 6 and Incremental Term
Loan Assumption Agreement” and the words “the Second Amended and Restated
Credit Agreement”, after the words “Amendment No. 4 and Incremental Term Loan
Assumption Agreement” in the definition of “Loan Documents”.

	 	•	 	Clause 8.1 (b) (i) and (b) (ii) of each Swiss IP Assignment Agreement entered into
between the Collateral Agent and that Security Grantor shall be amended by:

adding the phrase “the October 2010 Secured Notes Indenture, the February 2011
Secured Notes Indenture or the New Secured Notes Indenture”, in each case after
the words “the Senior Secured Notes Indenture” in the phrases “(z) to the
extent certain proceeds of the Senior Secured Notes Indenture”.

	 	•	 	Clause 9.1 (i) and (ii) of each Swiss IP Assignment Agreement entered into between
the Collateral Agent and that Security Grantor shall be amended by:

adding the phrase “the October 2010 Secured Notes Indenture, the February 2011
Secured Notes Indenture or the New Secured Notes Indenture”, in
each case after the words “the Senior Secured Notes Indenture” in the

- 13 -

 

phrases “(z) to the extent certain proceeds of the Senior Secured Notes
Indenture”.

	 	•	 	The current wording of Clause 9.3 (b) and its subsequent paragraph of each Swiss IP
Assignment Agreement entered into between the Collateral Agent and that Security
Grantor shall be deleted and replaced by the following wording:

	 	 	 	“(b) give evidence to the respective beneficiary or beneficiaries (as the case 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, the February 2011 Secured Notes
Indenture or the New Secured Notes Indenture.

	 	 	 	But if such a deduction is made, the Transferor 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, the February 2011 Secured Notes Indenture or the New Secured Notes
Indenture to the extent that such gross-up would result in the aggregate of the
amounts of the proceeds of a realization of the Collateral applied by the
beneficiary or beneficiaries (as the case may be) towards satisfaction of the
Obligations and the Tax Payment Amount paid to the Swiss Federal Tax administration
exceeding the maximum amount of its profits available for the distribution of
dividends.”

	 	•	 	The headings of the lists set out in Part 2-5 of Schedule 1 of each Security
Agreement entered into between the Collateral Agent and that Security Grantor shall be
replaced by one Part 2 and headed with the words “List of Current Guarantors, Current
Senior Secured Notes Guarantors, Current October 2010 Secured Notes Guarantors and
Current February 2011 Secured Notes Guarantors” and by one Part 3 headed with the words
“Current New Secured Notes Guarantors.”

The Collateral Agent and each Security Grantor hereby agree that any reference
in the Security Agreement to which they are a party to the term “Obligations”
shall be read and construed as reference to the Obligations as amended by this
Agreement.

	•	 	The Collateral Agent and each Security Grantor hereby
agree that the Security Agreements to which they are
a party shall continue to secure the Obligations as
amended by this Agreement.

- 14 -

 

•            The Collateral Agent and each Security Grantor hereby
confirm, in respect of the Security Agreements to
which they are a party, that any reference in each of
the agreements to the term “Credit Agreement” shall
be read and construed as a reference to the Credit
Agreement as amended, varied, novated, supplemented,
restated, superseded or extended from time to time,
including pursuant to the Second Amended and Restated
Credit Agreement and the Amendment No. 6 and
Incremental Term Loan Assumption Agreement.

The Collateral Agent and each Security Grantor confirm that the obligations secured under the
Security Agreements to which they are a party shall include the prompt and complete
satisfaction of any and all Obligations (as defined in the Amended Security Agreement)
(present and future, actual and contingent) which are (or are expressed to be) or become owing
by the Grantors (or any of them) to the Secured Parties (or any of them) under or in
connection with the Credit Agreement, and the other Credit Documents (as such term is defined
in the Amended Security Agreement in accordance with Clause 3.1 above) (including, but not
limited to the amendments set out in this Agreement).

	 	 	Continuity and further Assurance

The Collateral Agent and the Security Grantors confirm and agree that (i) save as amended by this
Agreement, all provisions of the Security Agreements shall remain unchanged, (ii) the validity
and effectiveness of the provisions of the Security Agreements shall remain unaffected by this
Agreement, to the extent not amended by this Agreement (iii) the validity and effectiveness of
the security interests created under the Security Agreements shall not be affected by this
Agreement; and (iv) such security interests shall continue to secure the Obligations (as
defined in the Amended Security Agreements). For the avoidance of doubt, and unless otherwise
agreed pursuant to this Agreement, the provisions in the Swiss IP Assignment Agreements
relating to the limitations on enforcement of the security granted thereunder and the
application of proceeds of an enforcement of such security shall not be affected by the
amendments pursuant to this Agreement.

The Security Grantors shall, at the reasonable request of the Security Agent (acting on the
reasonable instructions of the Secured Parties) and at the Security Grantors’ expense, do all
such acts and things necessary or desirable to give effect to the amendments effected or to be
effected pursuant to this Agreement.

The Collateral Agent and each Security Grantor agree that this Agreement shall constitute a
“Security Document” for the purposes of the First Lien Intercreditor Agreement (and for no
other purpose) and that, all rights, duties, privileges, protections and benefits of

- 15 -

 

the Collateral Agent set forth in the Amended Security Agreements are hereby incorporated by
reference.

	 	 	Partial Invalidity

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

	 	 	Amendments

	 	 	Changes and amendments to this Agreement including this Clause 6 shall be made in writing.

	 	 	Applicable law; Jurisdiction

	 	 	This Agreement is governed by the laws of the Federal Republic of Germany.

The place of jurisdiction for any and all disputes arising under or in connection with this
Agreement shall be the courts in Frankfurt am Main. The Collateral Agent, however, shall also
be entitled to take action against the respective Security Grantor in any other court of
competent jurisdiction. Further, the taking of proceedings against any Security Grantor in any
one or more jurisdictions shall not preclude the taking of proceedings in any other
jurisdiction (whether concurrently or not) if and to the extent permitted by applicable law.

	 	 	Conclusion of the Agreement (Vertragsschluss)

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.

If the parties to this Agreement choose to conclude this Agreement pursuant to sub-Clause 8.1
above, they will transmit the signed signature page(s) of this Agreement to the

- 16 -

 

attention
of Isabel van Bremen or Axel Schlieter
(Isabel.vanbremen@cliffordchance.com or
Axel.Schlieter@cliffordchance.com, fax: +49 211 43 55 5600) (each a “Recipient”). The
Agreement will be considered concluded once any of the Recipients has actually received the
signed signature page(s) (Zugang der Unterschriftsseite(n)) from all parties to this
Agreement and at the time of the receipt of the last outstanding signature page(s).

For
the purposes of this Clause 0 only, the parties to this Agreement appoint each Recipient
individually as their attorney (Empfangsvertreter) and expressly allow (gestatten) each
Recipient to collect the signed signature page(s) from all and for all parties to this
Agreement. For the avoidance of doubt, the Recipients will have no further duties connected
with their position as Recipient. In particular, the Recipients may assume the conformity to
the authentic original(s) of the signature page(s) transmitted to it by means of
telecommunication, the genuineness of all signatures on the original signature page(s) and the
signing authority of the signatories.

- 17 -

 

SCHEDULE 1

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

PART 2

LIST OF CURRENT GUARANTORS, CURRENT SENIOR SECURED NOTES

GUARANTORS, CURRENT OCTOBER 2010 SECURED NOTES

GUARANTORS AND CURRENT FEBRUARY 2011 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

Evergreen Packaging Canada Limited

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

19

 

Closure Systems International Deutschland GmbH

Pactiv Hamburg Holdings GmbH

Pactiv Deutschland Holdinggesellschaft mbH

Omni-Pac Ekco GmbH Verpackungsmittel

Omni-Pac GmbH Verpackungsmittel

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

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

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

Beverage Packaging Holdings (Luxembourg) I S.A.

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

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

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.

20

 

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.

21

 

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.

22

 

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.

Pactiv Canada Inc.

The Baldwin Group Limited

23

 

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

Conference Cup Ltd.

Dopaco Canada, Inc.

Dopaco, Inc.

Garven Incorporated

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

Servicios Industriales Jaguar, S. de C.V.

Servicio Terrestre Jaguar, S. de C.V.

Grupo Corporativo Jaguar, S. de C.V.

Pactiv México, S. de R.L. de C.V.

24

 

PART 3

LIST OF CURRENT NEW SECURED NOTES GUARANTORS1

Whakatane Mill Australia Pty Limited

SIG Beverages Brasil Ltda

SIG Combibloc do Brasil Ltda.

Closure Systems International (Brazil) Sistemas de Vedação Ltda

CSI Latin American Holdings Corporation

Evergreen Packaging Canada Limited

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

 

			
	1	 	Post-Closing Austrian Guarantors excluded.

25

 

SIG Combibloc Holding GmbH

SIG Vietnam Beteiligungs GmbH

SIG Combibloc GmbH

SIG Combibloc Systems GmbH

SIG Combibloc Zerspanungstechnik GmbH

SIG Information Technology GmbH

SIG International Services GmbH

Closure Systems International Holdings (Germany) GmbH

Closure Systems International Deutschland GmbH

Pactiv Hamburg Holdings GmbH

Pactiv Deutschland Holdinggesellschaft mbH

Omni-Pac Ekco GmbH Verpackungsmittel

Omni-Pac GmbH Verpackungsmittel

SIG Asset Holdings Limited

Closure Systems International (Hong Kong) Limited

SIG Combibloc Limited

Evergreen Packaging (Hong Kong) Limited

Closure Systems International Holdings (Hungary) Kft.

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

Closure Systems International Holdings (Japan) KK

Closure Systems International Japan, Limited

26

 

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

27

 

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.

28

 

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.

29

 

Pactiv Management Company LLC

PCA West Inc.

Prairie Packaging, Inc.

PWP Holdings, Inc.

PWP Industries, Inc.

Newspring Industrial Corp.

Pactiv Canada Inc.

The Baldwin Group Limited

J. & W. Baldwin (Holdings) Limited

Omni-Pac U.K. Limited

Conference Cup Ltd.

Dopaco Canada, Inc.

Dopaco, Inc.

Garven Incorporated

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

Servicios Industriales Jaguar, S. de C.V.

Servicio Terrestre Jaguar, S. de C.V.

Grupo Corporativo Jaguar, S. de C.V.

Pactiv México, S. de R.L. de C.V.

30

 

SIGNATURE PAGE

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

					
	 	

The Security Grantors

SIG Combibloc Group AG

 	 
	 	By:  	/s/ Karen Mower
 	 
	 	 	Name:  	Karen Mower 	 
	 	 	Title:  	Authorised Signatory 	 
	 
	 	SIG Euro Holding AG & CO. KGaA

acting through its general partner (Komplementär) SIG Reinag AG

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

	 	 	 	 	 
	SIG Combibloc Holding GmbH

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

32

 

					
	 	

SIG Combibloc GmbH

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

SIG Beverages Germany GmbH

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

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

SIG International Services GmbH

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

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

33

 

					
	 	

SIG Vietnam Beteiligungs GmbH

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

					
	 	

Closure Systems International Holdings (Germany) GmbH 

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

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

SIG Technology AG

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

The Collateral Agent

THE BANK OF NEW YORK MELLON

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

34exv4w474

Exhibit 4.474

DATED 8 September 2011

SIG COMBIBLOC LIMITED 

AND

WILMINGTON TRUST (LONDON) LIMITED 

AS COLLATERAL AGENT

 

DEED OF CONFIRMATION AND AMENDMENT

 

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

 

 

THIS DEED is made the 8th day of September 2011

BETWEEN:

	(1)	 	SIG COMBIBLOC LIMITED registered in Hong Kong with company number 944432 (the “Chargor”); and
	 
	(2)	 	WILMINGTON TRUST (LONDON) LIMITED in its capacity as additional collateral agent for the
Secured Parties appointed under the First Lien Intercreditor Agreement (the “Collateral
Agent”).

WHEREAS:

	(A)	 	The Chargor has entered into the debenture dated 25 February 2010 and as subsequently amended
by way of a deed of confirmation and amendment dated 16 November 2010 and further amended by a
deed of confirmation and amendment dated 1 February 2011, granted by the Chargor in favour of
the Collateral Agent (the “Debenture”) pursuant to (i) a credit agreement dated as of 5
November 2009 (as subsequently amended) between, among others, Reynolds Group Holdings Inc.,
Reynolds Consumer Products Holdings Inc., Closure Systems International Holdings Inc., SIG
Euro Holding AG & Co KGaA, SIG Austria Holding GmbH, Reynolds Group Holdings Limited, Closure
Systems International BV, Pactiv Corporation, the other borrowers party thereto, the lenders
from time to time parties thereto, and Credit Suisse AG, as administrative agent (the “Credit
Agreement”), (ii) an indenture dated 5 November 2009 between Reynolds Group Escrow LLC,
Reynolds Group DL Escrow Inc. and The Bank of New York Mellon, as trustee, principal paying
agent, transfer agent, registrar and collateral agent, as modified, amended or supplemented
from time to time (the “2009 Senior Secured Notes Indenture”), (iii) an indenture dated 15
October 2010 and entered into between, among others, RGHL US Escrow I Inc., RGHL US Escrow I
LLC and RGHL Escrow Issuer (Luxembourg) I S.A. and The Bank of New York Mellon, as trustee,
principal paying agent, transfer agent, registrar and collateral agent and Wilmington Trust
(London) Limited as additional collateral agent, as modified, amended, or supplemented from
time to time (the “2010 Senior Secured Notes Indenture”) and (iv) an indenture dated 1
February 2011 and entered into between, among others, Reynolds Group Issuer LLC, Reynolds
Group Issuer Inc., Reynolds Group Issuer (Luxembourg) S.A. and The Bank of New York Mellon, as
trustee, principal paying agent, transfer agent, registrar and collateral agent and Wilmington
Trust (London) Limited, as additional collateral agent, as modified, amended, or supplemented
from time to time (the “February 2011 Senior Secured Notes Indenture”).
	 
	(B)	 	In connection with the Credit Agreement, the 2009 Senior Secured Notes Indenture, the 2010
Senior Secured Notes Indenture and the February 2011 Senior Secured Notes Indenture, certain
parties to those documents have entered into a first lien intercreditor agreement dated 5
November 2009 (as subsequently amended pursuant to Amendment No. 1 and Joinder Agreement dated
as of January 21, 2010) between, among others, The Bank of New York Mellon as collateral agent
and representative under the

- 1 -

 

	 	 	indenture, Credit Suisse AG as representative under the Credit
Agreement, Wilmington Trust (London) Limited as an additional collateral agent and each
grantor that are parties thereto (the “First Lien Intercreditor Agreement”).
	 
	(C)	 	The parties to the Credit Agreement have entered into an amendment agreement dated 9 August
2011 to amend and restate the terms of the Credit Agreement (“Amendment No. 6”).
	 
	(D)	 	Pursuant to an indenture (the “August 2011 Senior Secured Notes Indenture”) dated as of 9
August 2011 and entered into between, among others, RGHL US Escrow II Inc. and RGHL US Escrow
II LLC (collectively, the “August 2011 Escrow Issuers”) and The Bank of New York Mellon, as
trustee, principal paying agent, transfer agent, registrar and collateral agent and Wilmington
Trust (London) Limited as additional collateral agent, certain secured notes (the
“August 2011 Senior Secured Notes”) were issued by the August 2011 Escrow Issuers. On or
about the date of this agreement, the August 2011 Senior Secured Notes shall be released
from escrow, RGHL US Escrow II Inc. and RGHL US Escrow II LLC shall be merged with and into
Reynolds Group Issuer Inc. and Reynolds Group Issuer LLC (together with Reynolds Group
Issuer (Luxembourg) S.A., the “August 2011 Ultimate Issuers”), respectively, and the
obligations of the August 2011 Escrow Issuers shall be assumed by the August 2011 Ultimate
Issuers pursuant to one or more supplemental indentures between, among others, the August
2011 Escrow Issuers, the August 2011 Ultimate Issuers, The Bank of New York Mellon, as
trustee, principal paying agent, transfer agent, registrar and collateral agent and
Wilmington Trust (London) Limited, as additional collateral agent.
	 
	(E)	 	The obligations in respect of the August 2011 Senior Secured Notes and any Senior
Secured Note Documents (as defined in the August 2011 Senior Secured Notes
Indenture) will be or have been designated as “Additional Obligations” under, and in
accordance with, section 5.02(c) of the First Lien Intercreditor Agreement and the
August 2011 Senior Secured Notes Indenture and the Senior Secured Note Documents
(as defined in the August 2011 Senior Secured Notes Indenture) are therefore
“Additional Agreements” under the First Lien Intercreditor Agreement (the “Secured
Notes Designation”).
	 
	(F)	 	As a consequence of the execution of the August 2011 Senior Secured Notes Indenture
it is necessary for the Chargor to make certain amendments to the Debenture, and enter
into this Deed.

NOW THE PARTIES HEREBY AGREE:

	1.	 	In this Deed (including its recitals), unless otherwise defined herein terms defined in
the First Lien Intercreditor Agreement shall have the same meaning when used in this
Deed.
	 
	2.	 	With effect from the date of this Deed, the Debenture shall be amended as follows:

	 	(a)	 	In Clause 1.1 (Definitions) the following new definition of “August 2011
Issuers” shall be inserted in alphabetical order:

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	 	 	 	““August 2011 Issuers” means the “Issuers” under, and as defined in, the August 2011
Senior Secured Notes Indenture, including their successors in interest.”
	 
	 	(b)	 	In Clause 1.1 (Definitions) the following new definition of “August 2011
Escrow Issuers” shall be inserted in alphabetical order:
	 
	 	 	 	““August 2011 Escrow Issuers” means RGHL US Escrow II Inc. and RGHL
US Escrow II LLC, including their successors in interest.”
	 
	 	(c)	 	In Clause 1.1 (Definitions) the following new definition of “August 2011
Senior Secured Notes Indenture” shall be inserted in alphabetical order:
	 
	 	 	 	““August 2011 Senior Secured Notes Indenture” means the indenture dated 9 August 2011,
among the August 2011 Escrow Issuers and The Bank of New York Mellon, as trustee,
principal paying agent, transfer agent, registrar and collateral agent and Wilmington
Trust (London) Limited, as additional collateral agent, as amended, extended,
restructured, renewed, refunded, novated, supplemented, restated, replaced or modified
from time to time and to which Reynolds Group Issuer Inc., Reynolds Group Issuer LLC and
Reynolds Group Issuer (Luxembourg) S.A. have or will become a party as issuers by way of
RGHL US Escrow II Inc. and RGHL US Escrow II LLC merging with and into Reynolds Group
Issuer Inc. and Reynolds
Group Issuer LLC, respectively, and one or more supplemental indentures being entered into
between, among others, the August 2011 Escrow Issuers, Reynolds Group Issuer Inc.,
Reynolds Group Issuer LLC, Reynolds Group Issuer (Luxembourg) S.A., The Bank of New York
Mellon, as trustee, principal paying agent, transfer agent, registrar and collateral agent
and Wilmington Trust (London) Limited, as additional collateral agent.”
	 
	 	(d)	 	In Clause 1.1 (Definitions) the existing definition of “Credit Agreement” shall
be deleted in its entirety and replaced with the following:
	 
	 	 	 	““Credit Agreement” means the second amended and restated credit agreement dated 9 August
2011 among Reynolds Group Holdings Inc., Reynolds Consumer Products Holdings Inc., SIG
Euro Holding AG & Co. KGaA, Closure Systems International Holdings Inc., Closure Systems
International B.V., Pactiv Corporation and SIG Austria Holding GmbH as borrowers, Reynolds
Group Holdings Limited, the lenders from time to time party thereto and Credit Suisse AG
as administrative agent, as further amended, extended, restructured, renewed, novated,
supplemented, restated, refunded, replaced or modified from time to time.”
	 
	 	(e)	 	In Clause 1.1 (Definitions) the existing definition of “First Lien Intercreditor
Agreement” shall be deleted in its entirety and replaced with the following:
	 
	 	 	 	““First Lien Intercreditor Agreement” means the First Lien Intercreditor Agreement dated
5 November 2009 between, among others, the Collateral

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	 	 	 	Agent, The Bank of New York Mellon, as trustee under the 2009 Senior Secured Notes
Indenture, the 2010 Senior Secured Notes Indenture, the February 2011 Senior
Secured Notes Indenture and the August 2011 Senior Secured Notes Indenture, Credit
Suisse AG, as administrative agent under the Credit Agreement, and the Loan
Parties, as further amended, novated, supplemented, restated or modified from time
to time.”
	 
	 	(f)	 	In Clause 1.1 (Definitions) the existing definition of “Principal Finance
Documents” shall be deleted in its entirety and replaced with the following:
	 
	 	 	 	““Principal Finance Documents” means the Credit Agreement, the 2009 Senior Secured
Notes Indenture, the 2010 Senior Secured Notes Indenture, the February 2011 Senior
Secured Notes Indenture, the August 2011 Senior Secured Notes Indenture, the
Intercreditor Arrangements and any Additional Agreement.”
	 
	 	(g)	 	Clause 5.3.2 (Further Advances) shall be deleted in its entirety and replaced
with the following:

	 	“5.3.2 	 	 (a) Subject to the terms of the Loan Documents, each 2009 Issuer may issue
Additional Notes (as defined in the 2009 Senior Secured Notes Indenture) and
the obligations in respect of such Additional Notes will be deemed to be
incorporated into this Debenture as if set out in this Debenture.
	 
	 	 	 	(b) Subject to the terms of the Loan Documents, each 2010 Issuer may issue
Additional Notes (as defined in the 2010 Senior Secured Notes Indenture)
and the obligations in respect of such Additional Notes will be deemed to
be incorporated into this Debenture as if set out in this Debenture.
	 
	 	 	 	(c) Subject to the terms of the Loan Documents, each February 2011 Issuer
may issue Additional Notes (as defined in the February 2011 Senior Secured
Notes Indenture) and the obligations in respect of such Additional Notes
will be deemed to be incorporated into this Debenture as if set out in
this Debenture.
	 
	 	 	 	(d) Subject to the terms of the Loan Documents, each August 2011 Issuer
may issue Additional Notes (as defined in the August 2011 Senior Secured
Notes Indenture) and the obligations in respect of such Additional Notes
will be deemed to be incorporated into this Debenture as if set out in
this Debenture.”

	3.	 	The Chargor confirms that, with effect from the date of this Deed, the Debenture shall
continue in full force and effect as amended by this Deed and extends to the obligations in
respect of the Credit Agreement as amended by Amendment No. 6 and to the obligations in
respect of the new Additional Agreements (as defined in the First Lien Intercreditor
Agreement) as a result of the Secured Notes Designation.

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	4.	 	This Deed is supplemental to and shall be construed as one with the Debenture and all
documents or instruments which are expressed to supplement the Debenture shall be construed
accordingly.
	 
	5.	 	This Deed may be executed in any number of counterparts, and by each party on separate
counterparts. Each counterpart is an original, but all counterparts shall together constitute
one and the same instrument. Delivery of a counterpart of this Deed by e-mail attachment or
telecopy shall be an effective mode of delivery.
	 
	6.	 	This Deed and all non-contractual obligations arising out of or in connection with it shall
be governed by and construed in accordance with Hong Kong law.
	 
	7.	 	For the avoidance of doubt, notwithstanding anything contained herein, each of the
protections, immunities, rights, indemnities and benefits conferred on the Collateral Agent
under the Debenture and the First Lien Intercreditor Agreement shall continue in full force
and effect and shall apply to this Deed as if set out in full herein.
	 
	8.	 	The courts of Hong Kong have exclusive jurisdiction to settle any dispute (a “Dispute”)
arising out of, or connected with this Deed (including a dispute regarding the existence,
validity or termination of this Deed or the consequences of its nullity) or any
non-contractual obligations arising out of or in connection with this Deed.
	 
	9.	 	The parties agree that the courts of Hong Kong are the most appropriate and convenient courts
to settle Disputes between them and, accordingly, that they will not argue to the contrary.
	 
	10.	 	Clauses 8 to 10 (inclusive) of this Deed are for the benefit of the Collateral Agent only. As
a result and notwithstanding Clause 8, it does not prevent the Collateral Agent from taking
proceedings relating to a Dispute in any other courts with jurisdiction. To the extent allowed
by law, the Collateral Agent may take concurrent proceedings in any number of jurisdictions.

- 5 -

 

IN WITNESS whereof this Deed has been duly executed as a deed by the Chargor and understood by the
Collateral Agent on the day and year first before written.

The Chargor

	 	 	 	 	 	 	 	 	 	 	 

	SIGNED, SEALED and DELIVERED )

	 	 	 	 	 	 	 	 
	 

	 	 
	 	 	 	 	)	 	 	 
	by

	 	/s/
[ILLEGIBLE]	 	 	 	 	)	 	 	 
	under power of attorney	 	 	 	 	)	 	 	
	dated 22 July 2011	 	 	 	 	)	 	 	 
	and thereby executed by	 	 	 	 	)	 	 	 
	SIG COMBIBLOC LIMITED	 	 	 	 	)	 	 	 
	as its Deed in the presence of:	 	 	 	 	)	 	 	 

	 	 	 	 	 
	 	/s/ Fiona Singh
 	 
	 	Name of witness: FIONA SINGH  	 
	 	Address of witness: SYDNEY, AUSTRALIA

Occupation of witness: LAWYER 	 

	 	 	 	 	 

	The Collateral Agent
	 	 	 	 
	Signed by

	 	 	)	 
	WILMINGTON TRUST (LONDON) LIMITED

	 	 	)	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Paul Barton
 	 
	 	Name: 	Paul Barton 	 
	 	 	Relationship Manager

        	 
	 	 	 
        	 
	 	Address:	 1 King’s Arms Yard

London EC2R 7AF 

United Kingdom

 	 
	 	Fax:	+44 (0)20 7397 3601

 	 
	 	Attention: 	Elaine Lockhart/Paul Barton
 	 
	 

- 6 -

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