Document:

exv4w157

EXHIBIT
4.157

The taking of this document or any certified copy of it or any other document which
constitutes substitute documentation for it, or any document which includes written confirmations
or references to it, into Austria as well as printing out any e-mail communication which refers to
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.

Share Pledge Agreement

between

1. SIG Finanz AG

as Pledgor

and

2. Wilmington Trust (London) Limited

as Pledgee and Collateral Agent

 

 

Contents

	 	 	 	 	 

	Whereas:
	 	 	3	 
	1. Definitions
	 	 	3	 
	2. Construction
	 	 	9	 
	3. Secured Obligations
	 	 	9	 
	4. Pledges
	 	 	10	 
	5. Dividends
	 	 	10	 
	6. Exercise of Voting Rights
	 	 	11	 
	7. Perfection of Security and Further Security
	 	 	12	 
	8. Enforcement of Pledges
	 	 	13	 
	9. Undertakings of the Pledgor
	 	 	16	 
	10. Acknowledgment by Pledgor
	 	 	16	 
	11. Representations and Warranties of the Pledgor
	 	 	17	 
	12. Duration and Independence
	 	 	17	 
	13. Partial Invalidity; Waiver
	 	 	18	 
	14. Further Assurance
	 	 	18	 
	15. Amendments; Waiver
	 	 	19	 
	16. Miscellaneous
	 	 	19	 
	17. Execution in Counterparts
	 	 	21	 
	18. Stamp Duty
	 	 	21	 
	19. Choice of Law
	 	 	21	 
	20. Settlement of Disputes
	 	 	21	 
	 
	 	 	 	 
	Schedules
	 	 	 	 
	 
	 	 	 	 
	Schedule A            Power of Attorney for share transfer (Clause 8.1.4)
	 	 	 	 
	Schedule B            Voting Power (Clause 8.1.5)
	 	 	 	 
	Schedule C            Notification Letter (Clause 7.1.1)
	 	 	 	 

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Whereas:

A. Pursuant to the Credit Agreement (as defined below) the Lenders (as defined therein) under this
agreement granted to the Borrowers (as defined below) facilities as provided therein.

B. Pursuant to the Senior Secured Note Indenture (as defined below) the Issuers (as defined
therein) have issued certain notes.

C. The Pledgor is foreseen to grant a pledge over its Shares (as defined below) in the Company (as
defined below) as security for the Secured Parties’ (as defined below) respective claims against
the Borrowers under the Loan Documents (as defined below).

D. The security created by or pursuant to this Agreement (as defined below) is to be administered
by the Collateral Agent (as defined below) for and on behalf of the Secured Parties pursuant to the
relevant provisions of the First Lien Intercreditor Agreement (as defined below).

Now, it is agreed as follows:

1. Definitions

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

	 	 	 

	Additional Collateral Agent’s Fee Letter

	 	means the fee letter dated 20 January 2010
among the Collateral Agent and Reynolds Group
Holdings Limited as amended, novated,
supplemented, restated or modified from time to
time.
	 
	 	 
	Agreed Security Principles

	 	has the meaning it is given in the Credit
Agreement and the Senior Secured Note Indenture
and to the extent of any inconsistency the
meaning it is given in the Credit Agreement
shall prevail.
	 
	 	 
	Agreement

	 	means this share pledge agreement, as the same
may from time to time be varied, amended,
extended, restructured, renewed, novated,
supplemented, restated, replaced or modified
from time to time.
	 
	 	 
	Amendment No.1 and Joinder Agreement

	 	means the joinder agreement dated 21 January
2010 made among (amongst others) the Collateral
Agent, The Bank of New York Mellon, Credit
Suisse AG and Reynolds Group Holdings Limited
pursuant to which the Collateral Agent is

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	 	appointed an additional collateral agent and
becomes party to the First Lien Intercreditor
Agreement.
	 
	 	 
	Borrowers

	 	has the meaning given to it under the Credit
Agreement from time to time.
	 
	 	 
	Business Days

	 	has the meaning given to it under the Credit
Agreement from time to time.
	 
	 	 
	Collateral Agent

	 	means Wilmington Trust (London) Limited, as
joint and several creditor for and on behalf of
itself and each of the Secured Parties on the
terms and conditions set out in the First Lien
Intercreditor Agreement. The term “Collateral
Agent” shall include any person for the time
being appointed as collateral agent, or as an
additional collateral agent, for the purpose
of, and in accordance with, the First Lien
Intercreditor Agreement and shall include
successors, transferees and permitted assigns.
	 
	 	 
	Collateral Rights

	 	means all rights, powers and remedies of the
Collateral Agent provided by this Agreement or
by law.
	 
	 	 
	Company

	 	means SIG Austria Holding GmbH, a limited
liability company organised under the laws of
Austria with its seat in Saalfelden am
Steinernen Meer, Austria, and its business
address as at the date of this Agreement at
Industriestraße 3, 5760 Saalfelden, Austria,
registered in the Austrian companies register
(Firmenbuch) under file number FN 236071 p.
	 
	 	 
	Credit Agreement

	 	means a credit agreement dated as of 5 November
2009, among Reynolds Group Holdings Inc.,
Reynolds Consumer Products Holdings Inc., SIG
Euro Holding AG & Co. KG aA, Closure Systems
International Holdings Inc., Closure Systems
International B.V. and the Company as
borrowers, Reynolds Group Holdings Limited, the
lenders from time to time party thereto and
Credit Suisse AG (formerly known as Credit
Suisse), as administrative agent, as amended,
extended, restructured, renewed, novated,
supplemented, restated, refunded, replaced or
modified from time to time.
	 
	 	 
	Enforcement Event

	 	means an “Event of Default” under, and as
defined in, the First Lien Intercreditor
Agreement.
	 
	 	 
	Existing Shares

	 	means 100% of the shares in the share capital
of the Company on the date of this Agreement
held by the

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	 	Pledgor and representing an
aggregate nominal amount of EUR 1,000,000.00
(Euro one million) and such shares being fully
paid in, together with all ancillary rights and
claims associated with the Existing Shares, in
particular the Related Assets.
	 
	 	 
	First Lien Intercreditor Agreement

	 	means the first lien intercreditor agreement
dated 5 November 2009 among (amongst others)
The Bank of New York Mellon as collateral agent
and as trustee under the Senior Secured Note
Indenture, Credit Suisse AG (formerly known as
Credit Suisse) as administrative agent under
the Credit Agreement and the Loan Parties, as
amended, novated, supplemented, restated or
modified from time to time (including by the
Amendment No.1 and Joinder Agreement which
added the Collateral Agent as a collateral
agent under the First Lien Intercreditor
Agreement).
	 
	 	 
	Future Shares

	 	means all additional shares to be held by the
Pledgor in the share capital of the Company in
whatever nominal value which the Pledgor may
acquire in the future in the event of an
increase of the capital of the Company, in the
event of a merger of the Company, in the event
of a demerger of the Company, in the event of a
conversion of the Company, or otherwise based
on and/or related to the Existing Shares,
together with all ancillary rights and claims
associated with the Future Shares, in
particular the Related Assets.
	 
	 	 
	Intercreditor Arrangements

	 	means the First Lien Intercreditor Agreement
and any other document that is designated by
the Loan Parties’ Agent and the Collateral
Agent as an intercreditor agreement, in each
case as amended, novated, supplemented,
restated, replaced or modified from time to
time.
	 
	 	 
	Issuers

	 	has the meaning given to it in the Senior
Secured Note Indenture, including their
successors in interest.
	 
	 	 
	Lien

	 	has the meaning given to it in the First Lien
Intercreditor Agreement.
	 
	 	 
	Loan Documents

	 	means the “Credit Documents” under, and as
defined in, the First Lien Intercreditor
Agreement and any other document designated by
the Loan Parties’ Agent and the Collateral
Agent as a Loan Document.
	 
	 	 
	Loan Parties

	 	means the “Grantors” under, and as defined in,
the First Lien Intercreditor Agreement.

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	Loan Parties’ Agent

	 	means Reynolds Group Holdings Limited
(previously known as Rank Group Holdings
Limited).
	 
	 	 
	Parallel Obligations

	 	means the independent obligations of any of the
Loan Parties arising pursuant to the First Lien
Intercreditor Agreement to pay to the
Collateral Agent sums equal to the sums owed by
such Loan Party to the other Secured Parties
(or any of them) under the Loan Documents.
	 
	 	 
	Party

	 	means a party to this Agreement. The term
“Parties” means any of them.
	 
	 	 
	Pledge

	 	has the meaning given to it in Clause 4.1.
	 
	 	 
	Pledgee

	 	means the Collateral Agent.
	 
	 	 
	Pledgor

	 	means SIG Finanz AG, a company organized under
the laws of Switzerland, registered with the
Handelsregister des Kanton Schaffhausen Nr. CH
290.3.004.147-6, with its seat in Neuhausen am
Rheinfall, Switzerland and its business address
as at the date of this Agreement at Laufengasse
18, CH-8212 Neuhausen am Rheinfall.
	 
	 	 
	Principal Finance Documents

	 	means the Credit Agreement, the Senior Secured
Note Indenture, the Intercreditor Arrangements
and any Additional Agreement.
	 
	 	 
	Private Sale

	 	has the meaning given to it in Clause 8.1.
	 
	 	 
	Public Auction

	 	has the meaning given to it in Clause 8.1.
	 
	 	 
	Related Assets

	 	means all dividends, interest and other monies
payable in respect of the Shares and all other
rights, benefits and proceeds in respect of or
derived from the Shares (whether by way of
redemption, bonus, preference, option,
substitution, conversion or otherwise) held by
or to the order of the Pledgor at any time.
	 
	 	 
	Secured Obligations

	 	means 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 Loan Party
and each grantor of a security interest to the
Secured Parties (or any of them) under each or
any of the Loan Documents including in
particular, but not limited to, the Parallel
Obligations together with all costs, charges
and expenses incurred by any Secured Party in
connection with

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	 	the protection, preservation or
enforcement of its respective rights under the
Loan Documents or any other documents
evidencing or securing any such liabilities
provided always that the Pledgor (A) shall only
be liable under this Agreement or any other
Loan Document (including, for the avoidance of
doubt, any restructuring of the Pledgor’s
rights of set-off and/or subrogation and its
duties to subordinate claims) in relation to
obligations (other than obligations under the
Loan Documents of (y) the Pledgor (i) incurred
as Borrower under the Credit Agreement, (ii)
incurred as borrower under a Local Facility
Agreement (as defined in the Credit Agreement),
(iii) incurred as a party to and beneficiary
under any Hedging Agreement (as defined in the
Credit Agreement), (iv) owed as Cash Management
Obligations, provided the Pledgor is a
beneficiary of the Cash Management Services
causing such Cash Management Obligations (all
as defined in the Credit Agreement), (v)
incurred as a party to and beneficiary under
any Additional Agreement or (vi) to the extent
certain proceeds of the Senior Secured Note
Indenture have been made available to the
Pledgor, up to such proceeds and (z) a direct
or indirect subsidiary of the Pledgor (the
“Pledgor’s Subsidiary”) (i) incurred as
Borrower under the Credit Agreement, (ii)
incurred as borrower under a Local Facility
Agreement (as defined in the Credit Agreement),
(iii) incurred as a party to and beneficiary
under any Hedging Agreement (as defined in the
Credit Agreement), (iv) owed as Cash Management
Obligations, provided the Pledgor’s Subsidiary
is a beneficiary of the Cash Management
Services causing such Cash Management
Obligations (all as defined in the Credit
Agreement), (v) incurred as a party to and
beneficiary under any Additional Agreement or
(vi) to the extent certain proceeds of the
Senior Secured Note Indenture have been made
available to the Pledgor’s Subsidiary, up to
such proceeds) to the extent such obligations
do 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 Pledgor and
in the maximum amount of its profits available
for the distribution of dividends at the point
in time the Pledgor’s obligations fall due
(being the balance sheet profits and any free
reserves made for this purpose, in each case in
accordance with the relevant Swiss law); (B)
pass for such payments shareholder’s
resolutions for the distribution of dividends in

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	 	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 a report from the
Pledgor’s auditors approving the proposed
distribution of dividends); and (C) deduct from
such payments 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:
	 
	 	 
	 

	 	(i) pay such deduction to the Swiss Federal Tax
Administration; and

	 
	 	 
	 

	 	(ii) give evidence to the respective Secured
Party beneficiary or Secured Parties
beneficiaries (as the same may be) of such
deduction in accordance with Section 2.20 of
the Credit Agreement (Taxes) and Section 4.15
of the Senior Secured Note Indenture
(Withholding Taxes);

	 
	 	 
	 

	 	(iii) but if such a deduction is made, not be
obliged to gross-up pursuant to Section 2.20 of
the Credit Agreement (Taxes) and Section 4.15
of the Senior Secured Note Indenture
(Withholding Taxes) to the extent that such
gross-up would result in the aggregate amounts
paid to the Secured Parties beneficiaries and
the Swiss Federal Tax administration exceeding
the maximum amount of its profits available for
the distribution of dividends.

	 
	 	 
	Secured Parties

	 	means the “Secured Parties” under, and as
defined in, the First Lien Intercreditor
Agreement.
	 
	 	 
	Security Documents

	 	has the meaning given to it in the First Lien
Intercreditor Agreement.
	 
	 	 
	Senior Secured Note Indenture

	 	means the Indenture dated as of 5 November
2009, among the Issuers, the Note Guarantors
(as defined therein) and The Bank of New York
Mellon, as trustee, principal paying agent,
transfer agent and registrar, as amended,
extended, restructured, renewed, refunded,
novated, supplemented, restated, replaced or
modified from time to time.
	 
	 	 
	Shares

	 	means the Existing Shares and the Future Shares.

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2. Construction

In this Agreement, unless the context otherwise requires:

	 	(a)	 	the rules of interpretation contained in the First Lien Intercreditor Agreement apply
to the construction of this Agreement and any notice given under or in connection with this
Agreement.
	 
	 	(b)	 	unless otherwise stated, a “Clause” is a reference to a Clause of this Agreement;
	 
	 	(c)	 	unless otherwise stated, a “Schedule” is a reference to a Schedule of this Agreement
and references to this Agreement include its Schedules;
	 
	 	(d)	 	words importing the plural shall include the singular and vice versa;
	 
	 	(e)	 	a reference to (or to any specified provision of) any agreement, deed or other
instrument (for the avoidance of doubt including, but not limited to, such agreements,
deeds or other instruments which are entered into prior to or after the conclusion of this
Agreement) is to be construed as a reference to that agreement, deed or other instrument or
that provision as from time to time amended, extended, restructured, renewed, refunded,
novated, supplemented, restated, replaced or modified; and
	 
	 	(f)	 	this Agreement is subject to the terms of the Intercreditor Arrangements. In the event
of a conflict between the terms of this Agreement and the Intercreditor Arrangements, the
terms of the Intercreditor Arrangements will prevail.

3. Secured Obligations

3.1 The Pledges hereunder are constituted in order to secure the prompt and complete satisfaction
of any and all Secured Obligations. The security created hereunder shall remain in full force and
effect as a continuing security for the Secured Obligations unless and until the earlier of the
following occurs: (i) discharge by the Collateral Agent, (ii) complete satisfaction or explicit
waiver of any and all Secured Obligations or (iii) discharge in accordance with Clauses 16.1 or
16.2.

3.2 The parties to this Agreement agree that in the case of a transfer or assignment or novation of
any Secured Obligations in accordance with the terms of the Principal Finance Documents, the
Pledges hereunder shall not lapse but shall continue to secure such transferred or assigned or
novated Secured Obligations.

3.3 Furthermore, the parties to this Agreement agree that in case of a substitution of any Loan
Party or the assumption of any of the Secured Obligations from any Loan Party or the

- 9 -

 

transfer of any of the Secured Obligations from any Loan Party to another person, the Pledges
hereunder shall not lapse but shall continue to secure such Secured Obligations in accordance with
section 1407 para 2 of the Austrian General Civil Code (Allgemeines Bürgerliches Gesetzbuch).

4. Pledges

4.1 The Pledgor hereby pledges to the Collateral Agent the Shares (each a “Pledge” and together the
“Pledges”).

4.2 Subject to any Liens permitted by the Principal Finance Documents and subject to any Legal
Reservations (as defined in the Credit Agreement), the Pledges shall rank ahead of any other Lien
now in existence or created in future in or over any of the Shares, unless otherwise permitted by
the Principal Finance Documents. The validity and effect of each of the Pledges shall be
independent from the validity and effect of any other Pledges created hereunder.

4.3 The Collateral Agent hereby accepts the Pledges.

4.4 Each of the Pledges is in addition and without prejudice to any other security that a Secured
Party may now or hereafter hold in respect of the Secured Obligations.

5. Dividends

5.1 Subject to Clause 5.2 below, the Pledges constituted by this Agreement include the present and
future rights to:

	 	(a)	 	receive dividends payable in relation to the Shares, if any;
	 
	 	(b)	 	receive liquidation proceeds, consideration for redemption (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) and all other pecuniary claims, in each case, associated with the
Shares; and
	 
	 	(c)	 	subscribe newly issued Future Shares issued by the Company to the Pledgor. For the
avoidance of doubt, the Company is permitted to issue shares to other persons (other than
the Pledgor) and those shares are not subject to this Pledge, so the Collateral Agent shall
not have any right to such shares under this Agreement.

5.2 Notwithstanding the rights pledged hereunder, including those rights set out in Clause 5.1, the
Pledgor shall (subject to the terms of the Principal Finance Documents) be entitled to receive and
retain all dividend payments whether in cash, by the issue of any loan note or debt instrument in
respect of the Shares or otherwise and hold and exercise the benefit of all rights set out in
Clause 5.1 (i) unless an Enforcement Event has occurred and is
con-

- 10 -

 

tinuing or (ii) unless the exercise of such rights is prohibited by the Principal Finance
Documents.

5.3 Notwithstanding Clause 5.2 above, if an Enforcement Event has occurred and is continuing:

	 	(a)	 	dividends paid or payable by way of cash or otherwise distributed in exchange for the
Shares; and
	 
	 	(b)	 	dividends or other distributions paid or payable in cash 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 capital, capital surplus or paid-in surplus; and
	 
	 	(c)	 	cash or other property or instrument paid, payable or otherwise distributed in respect
of principal of or on redemption of the Shares,

shall be and shall forthwith be delivered to the Collateral Agent to be held as security and shall,
if received by the Pledgor, be received as trustee of the Collateral Agent and kept segregated from
the other property or funds of the Pledgor and be forthwith delivered to the Collateral Agent as
security in the same form as so received (with any necessary endorsement). The terms of this
Agreement shall apply mutatis mutandis to such security.

5.4 Throughout the existence of this Agreement, during such time as the Pledgor shall record any
claims set out in Clause 5.2 hereof in its books and accounts, it shall keep an annotation
(Buchvermerk) of such pledge in such books and accounts specifying the signing date of this
Agreement, as well as the Collateral Agent as pledgee. Subject to the Agreed Security Principles,
the Pledgor shall maintain and, if appropriate, modify such annotation (and take such other steps
and actions from time to time) as may be necessary in order to ensure the validity and perfection
of the pledge under the applicable law.

6. Exercise of Voting Rights

6.1 Unless an Enforcement Event has occurred and is continuing, the voting rights and all other
rights and powers not otherwise prohibited by the Principal Finance Documents resulting from and
relating to the Shares remain with the Pledgor, provided that the Pledgor shall not exercise such
voting or other rights in any manner in respect of, or otherwise permit or agree to (i) any
variation of the rights attaching to or conferred by all or any of the Shares or (ii) any increase
in the issued share capital of the Company, in each case, to the extent such action would adversely
affect the validity or enforceability of the security created by this Agreement. The Pledgor
undertakes to exercise its voting rights from time to time so that no resolutions are passed which
adversely affect the validity or enforceability of the security created by this Agreement, in
particular but not limited to, any resolution in respect of the reduction or increase of the
Company’s share capital, any merger or demerger of the Company or its liquidation, dissolution or
the termination of its existence or the cessation of its business activities, in each case unless
otherwise permitted by the Principal Finance Documents or with the prior written consent of the
Collateral Agent.

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6.2 The Pledgor shall not take, or participate in, any action which results or would result in the
Pledgor’s loss of ownership of the Shares or pursue any other transaction which would have the same
result as a sale, transfer, encumbrance or other disposal of the Shares or which would for any
other reason be inconsistent with the security interest of the Collateral Agent or the security
purpose (as described in Clause 3 hereof) or defeat, materially impair or circumvent the rights of
the Secured Parties, except pursuant to a transaction foreseen or permitted by the Loan Documents
or with the prior written consent of the Collateral Agent.

6.3 The Pledgor shall inform the Collateral Agent without delay of all matters concerning the
Company of which the Pledgor is or becomes aware, which would materially adversely affect the
validity or enforceability of the security created by this Agreement. The Pledgor shall allow,
following the occurrence of an Enforcement Event and subsequent enforcement of the Pledges pursuant
to Clause 8.1 the Collateral Agent or, as the case may be, its proxy or any other person designated
by the Collateral Agent in accordance with this Agreement to participate in all such shareholders’
meetings of the Company. The Collateral Agent’s right to attend all shareholders’ meetings shall
lapse immediately once the earlier of the following occurs: (i) discharge by the Collateral Agent,
(ii) complete satisfaction of any and all Secured Obligations or (iii) discharge in accordance with
Clause 16.1.

7. Perfection of Security and Further Security

7.1 The Pledgor hereby undertakes, subject to the Agreed Security Principles, to make all notices,
registrations and filings required by the Collateral Agent (acting on the reasonable instruction of
the Applicable Representative) in relation to this Agreement, in particular with regard to Future
Shares acquired by the Pledgor by whatever means and in whatever way, including the merger with
other companies, the demerger of the Company, the conversion of the Company or the acquisition of
other enterprises.

7.1.1 Upon signing of this Agreement the Pledgor will promptly

	 	(a)	 	notify the Company of this Pledge by letter substantially in the form of Schedule C to
this Agreement. By countersigning Schedule C to this Agreement the Company confirms that it
has been given full notice that its shareholder, SIG Finanz AG, has pledged all Shares to
the Collateral Agent as provided for in this Agreement; and
	 
	 	(b)	 	mark in its books the Existing Shares as being pledged.

7.1.2 With regard to any and all Future Shares acquired by the Pledgor, the Pledgor will promptly
after the acquisition of such Future Shares mark in its books such Future Shares as being pledged.

7.2 In case of a conversion of the Company, a merger or demerger of the Company or any other form
of reorganisation and/or restructuring relating to the Company, the shares held by the Pledgor in
any successor company to the Company (if such successor company is

- 12 -

 

incorporated in Austria) shall, subject to obtaining any necessary consents, also be covered by the
Pledges established under this Agreement. The Pledgor shall take, subject to the Agreed Security
Principles, all steps to effectuate and perfect such pledge including the execution and
effectuation of a new pledge in the same rank. To that end the Pledgor will, subject to the Agreed
Security Principles, provide the Collateral Agent with all documents required by the Collateral
Agent (acting on the reasonable instruction of the Applicable Representative) for (i) assessing the
actions with respect to and the effects of conversion, merger, split-off or other form of
reorganization and/or restructuring, and (ii) the creation, enforcement, perfection or registration
of any new security interest in favour of the Collateral Agent including drafts of the merger
and/or conversion and/or reorganisation and/or restructuring documents in advance.

8. Enforcement of Pledges

8.1 Subject to the Legal Reservations (as defined in the Credit Agreement), the Pledgor herewith
grants its express consent that if an Enforcement Event has occurred and is continuing, the
Collateral Agent shall be entitled to realize without writ, judgement or any other legal court
action the Shares by applying in analogy the provisions of sections 466a et seq. of the Austrian
General Civil Code (Allgemeines Bürgerliches Gesetzbuch — ABGB) and § 368 para 1 of the Austrian
Business Code (Unternehmensgesetzbuch — UGB) by public auction (“Public Auction”) or by private
sale either with or without the assistance of a court (“Private Sale”). In such case the Collateral
Agent is obliged to request in writing that the party causing the default and the Pledgor meet
their respective obligations within 2 weeks of service of such request and shall inform the Pledgor
and such Party in default in such request that a Public Auction or Private Sale will take place if
the relevant obligations are not performed in full. The Public Auction or the Private Sale can take
place only after the aforementioned term has elapsed without full performance of the outstanding
obligations. The Public Auction or the Private Sale may take place at any place in Austria or
Germany. Subject to the Legal Reservations (as defined in the Credit Agreement), the Pledgor
herewith expressly agrees that the Collateral Agent is entitled to enforce its rights and remedies
under the Pledges in the above manner and it expressly waives any rights of first refusal, option
rights, consent requirements and any other rights which it might now or in the future have with
respect to the Shares, so that any enforcement of the Pledges may occur freely and without
restriction.

8.1.1 Any Private Sale or Public Auction shall only be made upon prior assessment of the Shares by
an Austrian independent certified public accountant. If the Pledgor and the Collateral Agent do not
reach agreement on the identity of the Austrian independent certified public accountant within 10
days after the lapse of the aforementioned period of 2 weeks, such independent certified public
accountant shall be appointed by the President of the Chamber of Accountants, Vienna (Kammer der
Wirtschaftstreuhänder, Wien). The assessment of the Shares shall be made by such certified public
accountant in accordance with the Rules and Guidelines (KFS BW1) of the Special Committee for
Business Management and Organization of the Institute for Business Management, Tax Law and
Organization of the Chamber of Certified Public Accountants for the Valuation of Enterprises
(Fachgutach

- 13 -

 

ten (KFS BW1) des Fachsenats für Betriebswirtschaft und Organisation des Instituts für
Betriebswirtschaft, Steuerrecht und Organisation der Kammer der Wirtschaftstreuhänder über die
Unternehmensbewertung) as may be valid from time to time or in accordance with any appropriate
substitute rules and guidelines. Within a period of at least 4 weeks from the date of service of
the respective letter of demand, the Collateral Agent shall inform the Pledgor and the party
causing the default of the terms and conditions, the place, the time and the Collateral Agent’s
instructions for the Public Auction or the Private Sale. In case of both a Public Auction and a
Private Sale the Shares must not be transferred at a price which is below the value assessed by the
expert. Each Secured Party, any affiliates of each Secured Party, the Pledgor as well as the
Collateral Agent are entitled to participate in a Public Auction or in a Private Sale.

8.1.2 The Pledgor may notify the Collateral Agent of potential bona-fide purchasers willing to
acquire the Shares at the price which is at least equal to the price assessed by the expert. A
bona-fide purchaser shall only be a person that is able to pay the full price of the Shares
immediately in cash. The Private Sale shall be made with the diligence usual for a bank and with
due observance of the Pledgor’s interests.

8.1.3 Subject to the Legal Reservations (as defined in the Credit Agreement), the Pledgor herewith
grants its express consent that if an Enforcement Event has occurred and is continuing, the
Collateral Agent shall be entitled to collect from the Company on behalf of the Pledgor — without
writ, judgement or any other legal court action — payments on account of rights to dividend by
simple notification to the Company that an Enforcement Event has occurred and is continuing, and
the Pledgor shall use all reasonable endeavours to procure that the Company acts in accordance
therewith. As from receipt of the aforementioned notification, provided such Enforcement Event
specified in the notification is continuing, the Pledgor shall use all reasonable endeavours to
procure that the Company does not effect payment of dividends to the Pledgor.

8.1.4 For the purposes of a Public Auction or Private Sale in accordance with Clause 8.1 the
Pledgor hereby irrevocably authorizes and empowers the Collateral Agent by separate power of
attorney to demand and apply for a Public Auction or Private Sale in the name of the Pledgor and to
take all steps necessary to effect such a realization. For the purposes of a Public Auction or a
Private Sale in accordance with Clause 8.1 the Pledgor hereby grants to the Collateral Agent an
irrevocable power of attorney to sign and execute on its behalf a notarial deed on the assignment,
in full or in part, of the Shares to one or several purchaser(s) of such Shares in the Public
Auction or the Private Sale at a price determined on such occasion, to sign all documents and make
all legally binding declarations related thereto, in particular to sign one or more assignment
deeds in the form of a notarial deed, also in the form of an offer and acceptance deed, to receive
the transfer price on the Pledgor’s behalf and to determine all conditions of such agreements.
Furthermore, promptly upon signing of this Agreement the Pledgor grants a power of substitution
within the scope of this power of attorney to the Collateral Agent (Schedule A). For the avoidance
of doubt, the Collateral Agent agrees that the rights and powers under the power of attorney in
this Clause 8.1.4 and Schedule A are exercisable, and it will exercise such rights and powers, only
if an Enforcement Event has occurred and is continuing.

- 14 -

 

8.1.5 Upon signing of this Agreement, the Pledgor grants by separate deed a power of attorney to
the Collateral Agent to represent the Pledgor as shareholder of the Company in shareholders’
meetings of the Company and when passing resolutions in writing and to exercise the Pledgor’s
voting rights (Schedule B) in each case if an Enforcement Event has occurred and is continuing. The
Collateral Agent may exercise this power of attorney only (i) if an Enforcement Event has occurred
and is continuing or (ii) upon receiving notice from the Applicable Representative, the Loan
Parties’ Agent and/or the Pledgor of failure by the Pledgor to comply with a further assurance or
perfection obligation under Clause 14 within 10 Business Days of being notified of that failure
(with a copy of that notice being sent to the Loan Parties’ Agent) and being requested to comply
and then only in respect of such further assurance or perfection obligations.

8.2 In case the Secured Parties acting through the Collateral Agent should seek to enforce the
Pledges pursuant to, and in accordance with Clause 8.1 above, 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 Secured Parties acting through the Collateral
Agent of any other right they may have under this Agreement as Secured Parties. The Pledgor as sole
shareholder of the Company herewith irrevocably consents to the transfer of the Shares or any part
thereof to any third party in accordance with the provisions of this Agreement.

8.3 In the event of the enforcement of the Pledges, no rights of the Secured Parties shall pass to
the Pledgor by subrogation or otherwise unless and until all of the Secured Obligations have been
satisfied and discharged finally and in full. Until then, the Secured Parties shall be entitled to
treat all enforcement proceeds as additional collateral for the Secured Obligations or to seek
satisfaction from such proceeds at any time.

8.4 The proceeds from the enforcement of the Pledges shall, after deduction of enforcement costs,
which are to be borne by the Pledgor to the extent set out in the Principal Finance Documents, and
any preferential debts, be paid to the Collateral Agent. Any moneys received by the Collateral
Agent pursuant to this Agreement and/or under the powers hereby conferred shall be applied by the
Collateral Agent in accordance with the terms of the Intercreditor Arrangements, save that any
amount received or recovered in excess of the Secured Obligations shall be returned to the Pledgor.

8.5 The Collateral Agent may determine which of the securities granted pursuant to the Security
Documents, if applicable, shall be used to satisfy the Secured Obligations in accordance with the
Intercreditor Arrangements.

8.6 The Pledgor waives its rights of revocation (Anfechtbarkeit) to the extent legally permissible
and its right to set-off (Aufrechenbarkeit).

8.7 The Pledgor as sole shareholder of the Company grants his express consent and authorization to
the enforcement of the Pledges by the Collateral Agent in accordance with Clauses 8.1 to 8.6.

- 15 -

 

8.8 Subject to the terms of and to the extent set out in the Principal Finance Documents, the
Pledgor agrees that the Collateral Agent, its officers, employees, advisors, agents and delegates
shall not be bound by any applicable banking secrecy obligations, including, but not limited to,
the obligation as stipulated in section 38 of the Austrian Banking Act (Bankwesengesetz), in
connection with the creation and enforcement of the Pledges.

9. Undertakings of the Pledgor

During the term of this Agreement, the Pledgor undertakes to the Secured Parties (unless with the
prior written consent of the Collateral Agent (acting on the reasonable instructions of the
Applicable Representative) or unless otherwise permitted by the terms of the Principal Finance
Documents or this Agreement):

	 	(a)	 	not to sell or to dispose of the Shares or any interest therein; and
	 
	 	(b)	 	not to create or agree to create, grant or permit to exist any restriction on the
ability to transfer or realise, all or any part of the Shares; and
	 
	 	(c)	 	to effect promptly any payments to be made in respect of the Shares. If the Pledgor
fails to make any such payment within 10 Business Days of being notified of that failure,
the Collateral Agent may make that payment on behalf of the Pledgor and any sums so paid by
the Collateral Agent shall be reimbursed by the Pledgor promptly on demand, together with
interest on those sums. Such interest shall be calculated from the date on which such
payment is made by the Collateral Agent up to the actual date of payment by the Pledgor to
the Collateral Agent (after, as well as before, judgement) at such commercial rate as the
Collateral Agent may determine (acting on the reasonable instruction of the Applicable
Representative) in accordance with the Principal Finance Documents; and
	 
	 	(d)	 	not to transfer any Shares nor to offer any Future Shares to a third party; and
	 
	 	(e)	 	not to defeat, impair or circumvent in any way the rights of the Collateral Agent and
the Secured Parties created hereunder, if such action, measures or omissions would have a
Material Adverse Effect (as defined in the Credit Agreement or, if the Credit Agreement is
no longer existing, any Additional Agreements); and
	 
	 	(f)	 	to ensure that the Future Shares, if any, will be fully paid in and there will not be
any obligation for a shareholder of the Company to make additional contributions to the
Company in this regard.

10. Acknowledgment by Pledgor

The Pledgor acknowledges that:

- 16 -

 

	 	(a)	 	to its knowledge based upon a consolidated group company approach it will receive
adequate direct or indirect benefits as a result of the transactions contemplated by the
Loan Documents; and
	 
	 	(b)	 	to its knowledge each Secured Party has acted in good faith in connection with the
Pledges pursuant to this Agreement and the transactions contemplated by the Loan Documents.

11. Representations and Warranties of the Pledgor

11.1 The Pledgor represents and warrants to the Collateral Agent and the other Secured Parties that
on the date of this Agreement with reference to the facts and circumstances then existing:

	 	(a)	 	the Existing Shares comprise 100% of the shares of the Company; and
	 
	 	(b)	 	subject to any rights to dispose of all or any Shares that the Pledgor has under the
terms of the Loan Documents, it is, and will be, the legal and beneficial owner, free from
any encumbrances, including but not limited to pre-emption rights, of all of the Shares
owned by it, other than as permitted by the Principal Finance Documents or arising under
applicable laws; and
	 
	 	(c)	 	the Existing Shares have been duly and validly issued and are paid in with an amount of
EUR 1,000,000.00 and there is not any obligation for a shareholder of the Company to make
additional contributions to the Company in respect of the Existing Shares; and
	 
	 	(d)	 	unless otherwise permitted under the terms of the Loan Documents, it has not sold or
disposed of, the benefit of all or any of its rights, title and interest in the Shares.

11.2 All the representations and warranties in Clauses 11.1(b), (c) and (d) are made to each
Secured Party on the date of this Agreement and all such representations and warranties are deemed
to be repeated as true and correct in each material respect by the Pledgor to each Secured Party on
the date of a Credit Event (as defined in the Credit Agreement) during the continuance of this
Agreement.

12. Duration and Independence

12.1 This Agreement shall remain in full force and effect until the earlier of the following
occurs: (i) discharge by the Collateral Agent, (ii) complete satisfaction or explicit waiver of any
and all Secured Obligations or (iii) discharge in accordance with Clauses 16.1 or 16.2.

12.2 This Agreement shall create a continuing security which means that no change, amendment,
supplement or novation whatsoever of the Secured Obligations and/or in the Loan Documents or in any
document or agreement related to the Secured Obligations

- 17 -

 

and/or any of the Loan Documents shall affect the validity or the scope of this Agreement nor the
obligations which are imposed on the Pledgor pursuant hereto.

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

13. Partial Invalidity; Waiver

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

13.2 In particular, the Pledges shall not be affected and shall in any event extend to any and all
Shares held by the Pledgor in the Company even if the percentage of shareholding or the nominal
value of the Existing Shares or the aggregate share capital of the Company as stated in Clause 1
are inaccurate or deviate from the actual facts.

13.3 No failure to exercise, nor any delay in exercising, on the part of the Collateral Agent or
the Secured Parties, 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.

13.4 The security interest constituted by this Agreement and the Collateral Rights shall be
cumulative, in addition to and independent of every other security which the Collateral Agent may
at any time hold for the Secured Obligations or any rights, powers and remedies provided by law. No
prior security held by the Collateral Agent over the whole or any part of the Shares shall merge
into the security interest constituted by this Agreement.

14. Further Assurance

14.1 Subject to the Agreed Security Principles, the Pledgor shall promptly execute all documents
(including transfers) and do all things (including the delivery, transfer, assignment or payment of
all or part of the Shares to the Collateral Agent or its nominee(s)) that the Collateral Agent may
specify (upon the reasonable instruction of the Applicable Representative) for the purpose of (a)
(if an Enforcement Event has occurred and is continuing) exercising the Collateral Rights or (b)
securing and perfecting the security intended to be created by this Agreement over all or any part
of the Shares.

- 18 -

 

14.2 At any time if an Enforcement Event has occurred and is continuing, the Pledgor shall upon
demand from the Collateral Agent execute all documents and do all other things that the Collateral
Agent may require (upon the reasonable instruction of the Applicable Representative) to facilitate
the realisation of the Shares.

15. Amendments; Waiver

Any amendments, changes, variations or waivers to this Agreement may be made only with the
agreement of the Pledgor and the Collateral Agent in writing and, if required under Austrian
statutory law, in the form of a notarial deed. This applies also to this Clause 15.

16. Miscellaneous

16.1 The security constituted by this Agreement shall be released, reassigned, re-transferred and
cancelled:

	 	(a)	 	by the Collateral Agent (acting on the instructions of the Applicable Representative)
at the request and cost of the Pledgor, upon the Secured Obligations being irrevocably paid
or discharged in full and none of the Secured Parties being under any further actual or
contingent obligation to make advances or provide other financial accommodation to the
Pledgor or any other person under any of the Loan Documents; or
	 
	 	(b)	 	in accordance with, and to the extent required by, the Intercreditor Arrangements (to
the extent it is possible to give effect to such arrangements under Austrian law.

16.2 If the Pledgor disposes of any Shares and that disposal is permitted by the Principal Finance
Documents, such Shares shall, unless an Enforcement Event has occurred and is continuing, be
automatically released, re-assigned, re-transferred and cancelled from the security constituted by
this Agreement with effect from the day of such disposal and the Collateral Agent (at the expense
and cost of the Pledgor) shall do all such acts which are reasonably requested by the Pledgor in
order to release, re-assign, re-transfer and cancel the relevant Shares from the security
constituted by this Agreement. Any or all of the Shares shall also be released, re-assigned,
re-transferred and cancelled in accordance with and to the extent permitted by the Intercreditor
Arrangements.

16.3 Any settlement or discharge between the Pledgor and the Collateral Agent shall be conditional
upon no security or payment to the Collateral Agent by the Pledgor or any Loan Party being avoided,
set aside, ordered to be refunded or reduced by virtue of any provision or enactment relating to
insolvency, and accordingly the Collateral Agent shall be entitled to recover from the Pledgor that
security or the amount of any such payment as if that settlement or discharge had not occurred.

16.4 None of the Collateral Agent, its nominee(s) or any receiver appointed pursuant to this
Agreement shall be liable by reason of (a) taking any action permitted by this Agreement or (b) any
neglect or default in connection with the Shares or (c) the
taking possession or re-

- 19 -

 

alisation of all or any part of the Shares, except to the extent provided in the Principal Finance
Documents.

16.5 For the purpose of or pending the discharge of any of the Secured Obligations, the Collateral
Agent may convert any money received, recovered or realised or subject to application by it under
this Agreement from one currency to another, which the Collateral Agent considers necessary (acting
on the reasonable instruction of the Applicable Representative) to cover the obligations and
liabilities comprised in the Secured Obligations and any such conversion shall be effected at the
Collateral Agent’s spot rate of exchange for the time being for obtaining such other currency with
the first currency.

16.6 This Agreement shall remain in effect despite any amalgamation or merger (however effected)
relating to the Collateral Agent; and references to the Collateral Agent shall include any
assignee, transferee or successor in title of the Collateral Agent and any person who, under the
laws of its jurisdiction of incorporation or domicile, has assumed the rights and obligations of
the Collateral Agent under this Agreement or to which, under such laws, those rights and
obligations have been transferred.

16.7 Subject to Section 4.05 of the First Lien Intercreditor Agreement (to the extent permitted by
Austrian law), the Collateral Agent shall have full power to delegate (either generally or
specifically) the powers, authorities and discretions conferred on it by this Agreement (including
the power of attorney) on such terms and conditions as it shall see fit which delegation shall not
preclude either the subsequent exercise, any subsequent delegation or any revocation of such power,
authority or discretion by the Collateral Agent.

16.8 To the extent set out in Section 4.11 of the First Lien Intercreditor Agreement and in the
Additional Collateral Agent’s Fee Letter, the Pledgor shall, notwithstanding any release or
discharge of all or any part of the security, indemnify the Collateral Agent, its agents, its
attorneys and any delegate against any action, proceeding, claims, losses, liabilities, expenses,
demands, taxes and costs which it may sustain as a consequence of any breach by the 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 Shares.

16.9 The Pledgor acknowledges and agrees that the Collateral Agent’s actions under this Agreement
are on the basis of authority conferred under the Principal Finance Documents to which the
Collateral Agent is a party, and on directions of the Applicable Representative. In so acting, the
Collateral Agent shall have, subject to the terms of the Principal Finance Documents, the
protections, immunities, rights, indemnities and benefits conferred on the collateral agent under
the Principal Finance Documents.

16.10 For the avoidance of doubt, it is acknowledged that the Collateral Agent is permitted to act
on the instructions of the Applicable Representative in accordance with Clause 2.02(a)(i) of the
First Lien Intercreditor Agreement. It is further acknowledged that the Collateral Agent may assume
that any and all instructions received by it from the Applicable Representative under this
Agreement are reasonable, and that any question as to the rea-

- 20 -

 

sonableness or otherwise of such instructions shall be determined as between the Applicable
Representative and the Pledgor.

17. Execution in Counterparts

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

18. Stamp Duty

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

19. Choice of Law

This Agreement shall be governed in all respects by the laws of Austria.

20. Settlement of Disputes

20.1 Jurisdiction of English Courts

	(a)	 	The courts of England, shall have exclusive jurisdiction to settle any dispute arising out of
or in connection with this Agreement (including a dispute regarding the existence, validity or
termination of this Agreement).
	 
	(b)	 	The Parties agree that the courts of England are the most appropriate and convenient courts
to settle Disputes and accordingly no Party will argue to the contrary.

20.2 Clause 20.1 is for the benefit of the Collateral Agent only. As a result, the Collateral Agent
shall not be prevented from taking proceedings relating to a dispute in any other courts with
jurisdiction. To the extent allowed by law, the Collateral Agent may take concurrent proceedings in
any number of jurisdictions.

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

- 21 -

 

	(a)	 	irrevocably appoints Law Debenture Corporate Services Limited as its agent for service of
process in relation to any proceedings before the English courts in connection with this
Agreement; and
	 
	(b)	 	agrees that failure by an agent for service of process to notify the Pledgor of the process
will not invalidate the proceedings concerned.

- 22 -

 

COLLATERAL AGENT

4 March 2010, London, United Kingdom

	 	 	 

	/s/ Elaine Lockhart
 

Wilmington Trust (London) Limited

	 	 

By: Elaine Lockart

PLEDGOR

4 March 2010, Sydney, Australia

	 	 	 

	/s/ Cindi Lefari
 

SIG Finanz AG

	 	 

	 	 	 

	By:

	 	Cindi Lefari
	 

	 	Attorney

	 	 	 

	/s/ Mark Dunkley
 

SIG Finanz AG

	 	 

	 	 	 

	By:

	 	Mark Dunkley
	 

	 	Attorney

- 23 -

 

Schedule A

	 	 	 
	SPEZIALVOLLMACHT	 	SPECIAL POWER OF ATTORNEY
	und	 	and
	EIDESSTÄTIGE ERKLÄRUNG	 	AFFIDAVIT
	 
	SIG Finanz AG, eine nach schweizerischen
Recht errichtete Gesellschaft, mit dem
Sitz in Neuhausen am Rheinfall, Schweiz,
und der Geschäftsanschrift zum Zeitpunkt
dieser Vollmacht Laufengasse 18, CH-8212
Neuhausen am Rheinfall, eingetragen im
Handelsregister des Kanton Schaffhausen
unter der Nummer CH 290.3.004.147-6,
bevollmächtigt hiermit

	 	SIG Finanz AG, a company organised under the
laws of Switzerland with its seat in
Neuhausen am Rheinfall, Switzerland and its
business address as at the date of this
power of attorney at Laufengasse 18, CH-8212
Neuhausen am Rheinfall, registered in the
commercial register of the Kanton
Schaffhausen under file number CH
290.3.004.147-6, herewith authorizes
	 
	 	 
	Wilmington Trust (London) Limited, l,

	 	Wilmington Trust (London) Limited, l,
	 
	 	 
	1. in ihrem Namen und auf ihre Rechnung
ihren Geschäftsanteil an der SIG Austria
Holding GmbH, eingetragen im
österreichischen Firmenbuch zu FN 236071
p, mit dem Sitz in Saalfelden am
Steinernen Meer und der Geschäftsanschrift
Industriestraße 3, 5760 Saalfelden,
Österreich, mit einer zur Gänze
geleisteten Stammeinlage von EUR
1.000.000,00 (Euro eine Million), zur
Gänze oder in Teilen an eine oder mehrere
andere Personen abzutreten, sowie alle
damit zusammenhängenden Urkunden zu
zeichnen sowie sämtliche
rechtsgeschäftlichen Erklärungen
abzugeben, insbesondere ein oder mehrere
notarielle Abtretungsverträge — auch in
Form von Anbot und Annahme — zu errichten,
den jeweiligen Abtretungspreis oder einen
Berechnungsmodus für den Abtretungspreis
festzusetzen und alle übrigen Bestimmungen
dieser Abtretungsverträge festzulegen.

	 	1. to assign in its name and on its account
its shares in SIG Austria Holding GmbH, a
company registered under FN 236071 p with
the Austrian companies register, with its
corporate seat in Saalfelden am Steinernen
Meer and the business address
Industriestraße 3, 5760 Saalfelden, Austria,
having paid in full an initial contribution
of EUR 1,000,000.00 (Euro one million), in
whole or in part to one or more other
persons, as well as to sign all documents
related thereto as well as to give other
expressions and declarations of will, in
particular to draw up one or more notarized
assignment agreements — also in the form of
offer and acceptance — to fix the respective
assignment price or the method of
calculation for the assignment price, and to
determine all remaining provisions of these
assignment agreements.
	 
	 	 
	2. alle sonstigen mit den in Punkt 1.
bezeichneten Tätigkeiten verbundenen
Handlungen vorzunehmen, Erklärungen
abzugeben und zu empfangen, Unterschriften
beglaubigt und unbeglaubigt zu leisten,
sowie Urkunden in Form eines
Notariatsaktes oder einer notariellen
Beurkundung oder einer ausländischen
Beurkundung (auch in Form eines
ausländischen Notariatsaktes) durch einen
ausländischen Notar zu errichten.

	 	2. to undertake all other actions in
connection with the activities mentioned in
point 1., to issue and receive statements,
to sign with and without notarisation and to
set up documents in the form of a notarial
deed or a notarial recording or another
foreign recording (also in form of a foreign
notarial deed) by a foreign notary public.

- 24 -

 

	 	 	 
	3. Die Bevollmächtigte ist von dem Verbot
des Kontrahierens mit sich selbst auf
eigene Rechnung oder als Vertreter eines
Dritten befreit; auch ist die
Doppelvertretung zulässig.

	 	3. The representative is dispensed from the
prohibition of self-contracting with itself
on its own account or acting on behalf of a
third person; double representation is
permissible.
	 
	 	 
	4. Die Bevollmächtigte ist befugt, diese
Vollmacht ganz oder zum Teil an Dritte zu
übertragen.

	 	4. The representative is authorized to
delegate in full or in part this power of
attorney to third persons.
	 
	 	 
	5. Im Zweifel gilt der deutsche Text.

	 	5. In case of doubt the German text prevails.
	 
	 	 
	6. Diese Vollmacht unterliegt
österreichischem Recht.

	 	6. This power of attorney is governed by
Austrian law.
	 
	 	 
	7. SIG Finanz AG ist eine nach dem Recht
der Schweiz errichtete und bestehende
Gesellschaft. Die für diese Gesellschaft
Unterfertigenden erklären hiermit an Eides
statt, dass sie diese Gesellschaft am Tage
der Unterfertigung dieser Vollmacht
vertreten dürfen.

	 	7. SIG Finanz AG is a company established
and existing under the laws of Switzerland.
The signatories on behalf of this company
hereby declare in lieu of oath that they are
allowed to represent this company on the day
of signing of this power of attorney.

 

Ort/Place, Datum/Date

	 	 	 

	 	 	 
	l
	 	 
	für/for
	 	 
	SIG Finanz AG
	 	 

[Comment: Since this power of attorney is issued by a legal person (i.e. a company) the power of
attorney must be signed by authorized representatives of such legal person with sufficient power of
representation. The signatures of such representatives must be notarized. The notary public must
state in his notarization wording that he has checked on the day of signing the power of attorney
that the person signing is authorized to represent the issuer of the power of attorney on this day
(in the alternative a notarized abstract from the competent commercial register can be provided
which shows that the persons signing are authorized to represent on the day of signing). Depending
on where the power of attorney is signed and notarized, an apostille is required. If the power of
attorney is signed and notarized in Switzerland an apostille is required.]

- 25 -

 

Schedule B

	 	 	 
	SPEZIALVOLLMACHT	 	SPECIAL POWER OF ATTORNEY
	und	 	and
	EIDESSTÄTIGE ERKLÄRUNG	 	AFFIDAVIT
	 
	SIG Finanz AG, eine nach schweizerischen
Recht errichtete Gesellschaft, mit dem
Sitz in Neuhausen am Rheinfall, Schweiz,
und der Geschäftsanschrift zum Zeitpunkt
dieser Vollmacht Laufengasse 18, CH-88212
Neuhausen am Rheinfall, eingetragen im
Handelsregister des Kanton Schaffhausen
unter der Nummer CH 290.3.004.147-6,
bevollmächtigt hiermit

	 	SIG Finanz AG, a company organised under the
laws of Switzerland with its seat in Neuhausen
am Rheinfall, Switzerland and its business
address as at the date of this power of
attorney at Laufengasse 18, CH-88212 Neuhausen
am Rheinfall, registered in the commercial
register of the Kanton Schaffhausen under file
number CH 290.3.004.147-6, herewith authorizes
	 
	 	 
	Wilmington Trust (London) Limited, l,

	 	Wilmington Trust (London) Limited, l,
	 
	 	 
	1. sie als Gesellschafterin der SIG
Austria Holding GmbH, eingetragen im
österreichischen Firmenbuch zu FN 236071
p, mit dem Sitz in Saalfelden am
Steinernen Meer und der Geschäftsanschrift
Industriestraße 3, 5760 Saalfelden,
Österreich, bei
Gesellschafterversammlungen dieser
Gesellschaft und bei Abstimmungen im
schriftlichen Wege zu vertreten und für
sie das Stimmrecht auszuüben, insbesondere
auch bei Beschlussfassungen über die
Zustimmung zur Übertragung und/oder
Belastung von Geschäftsanteilen, und auch
bei Beschlussfassungen über die Änderung
des Gesellschaftsvertrags.

	 	1. to represent it as shareholder of SIG
Austria Holding GmbH, a company registered
under FN 236071 p with the Austrian companies
register, with its corporate seat in
Saalfelden am Steinernen Meer and the business
address Industriestraße 3, 5760 Saalfelden,
Austria, at shareholders’ meetings of this
company and when taking written shareholder
resolutions, and to exercise the voting right
on its behalf, in particular also when
resolving upon the consent to the transfer
and/or encumbrance of the shares, and also
including resolutions upon changes and
amendments to the articles of association.
	 
	 	 
	2. alle sonstigen mit den in Punkt 1.
bezeichneten Tätigkeiten verbundenen
Handlungen vorzunehmen, Erklärungen
abzugeben und zu empfangen, Unterschriften
beglaubigt und unbeglaubigt zu leisten,
sowie Urkunden in Form eines
Notariatsaktes oder einer notariellen
Beurkundung oder einer ausländischen
Beurkundung (auch in Form eines
ausländischen Notariatsaktes) durch einen
ausländischen Notar zu errichten.

	 	2. to undertake all other actions in
connection with the activities mentioned in
point 1., to issue and receive statements, to
sign with and without notarisation and to set
up documents in the form of a notarial deed or
a notarial recording or another foreign
recording (also in form of a foreign notarial
deed) by a foreign notary public.
	 
	 	 
	3. Die Bevollmächtigte ist von dem Verbot
des Kontrahierens mit sich selbst auf
eigene Rechnung oder als Vertreter eines
Dritten befreit; auch ist die
Doppelvertretung zulässig.

	 	3. The representative is dispensed from the
prohibition of self-contracting with itself on
its own account or acting on behalf of a third
person; double representation is permissible.

- 26 -

 

	 	 	 
	4. Die Bevollmächtigte ist befugt, diese
Vollmacht ganz oder zum Teil an Dritte zu
übertragen.

	 	4. The representative is authorized to
delegate in full or in part this power of
attorney to third persons.
	 
	 	 
	5. Im Zweifel gilt der deutsche Text.

	 	5. In case of doubt the German text prevails.
	 
	 	 
	6. Diese Vollmacht unterliegt
österreichischem Recht.

	 	6. This power of attorney is governed by
Austrian law.
	 
	 	 
	7. SIG Finanz AG ist eine nach dem Recht
der Schweiz errichtete und bestehende
Gesellschaft. Die für diese Gesellschaft
Unterfertigenden erklären hiermit an Eides
statt, dass sie diese Gesellschaft am Tage
der Unterfertigung dieser Vollmacht
vertreten dürfen.

	 	7. SIG Finanz AG is a company established and
existing under the laws of Switzerland. The
signatories on behalf of this company hereby
declare in lieu of oath that they are allowed
to represent this company on the day of
signing of this power of attorney.

 

Ort/Place, Datum/Date

	 	 	 

	 	 	 
	l
	 	 
	für/for
	 	 
	SIG Finanz AG
	 	 

[Comment: Since this power of attorney is issued by a legal person (i.e. a company) the power of
attorney must be signed by authorized representatives of such legal person with sufficient power of
representation. The signatures of such representatives must be notarized. The notary public must
state in his notarization wording that he has checked on the day of signing the power of attorney
that the person signing is authorized to represent the issuer of the power of attorney on this day
(in the alternative a notarized abstract from the competent commercial register can be provided
which shows that the persons signing are authorized to represent on the day of signing). Depending
on where the power of attorney is signed and notarized, an apostille is required. If the power of
attorney is signed and notarized in Switzerland an apostille is required.]

- 27 -

 

Schedule C

The taking of this document or any certified copy of it or any other document which constitutes
substitute documentation for it, or any document which includes written confirmations or references
to it, into Austria as well as printing out any e-mail communication which refers to 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.

SIG Austria Holding GmbH

attn. l

c/o l [address outside of Austria.]

____________[outside of Austria], on _________2010

Reference: Notification of the pledge of our shares in SIG Austria Holding GmbH

Dear Sir,

We herewith inform you that we, SIG Finanz AG, with its seat in Neuhausen am Rheinfall,
Switzerland, and its business address as at the date of this notification at Laufengasse 18,
CH-8212 Neuhausen, registered in the commercial register of the Canton of Schaffhausen under file
number CH 290.3.004.147-6, as sole shareholder of SIG Austria Holding GmbH, a company registered
under FN 236071 p with the Austrian companies register, with its corporate seat in Saalfelden am
Steinernen Meer and the business address as at the date of this notification at Industriestraße 3,
5760 Saalfelden, Austria, having paid in full an initial contribution of EUR 1,000,000.00 (Euro one
million), have pledged our existing GmbH-share (Geschäftsanteil) in SIG Austria Holding GmbH and
any GmbH-share in SIG Austria Holding GmbH which we may acquire in the future together with all
ancillary rights and claims to Wilmington Trust (London) Limited,
l, under the terms of the
Share Pledge Agreement dated __________ 2010. An execution version of such Share Pledge Agreement
is attached to this letter as Annex 1.

We herewith formally notify you of the pledge. Please confirm receipt of this letter by
countersigning this letter.

Sincerely yours,

________________________

SIG Finanz AG

Annex 1: Execution version of the Share Pledge Agreement

- 28 -

 

H H H

- 29 -

 

We, l, born on l, and, born on l, as managing directors of SIG Austria Holding
GmbH, a company registered under FN 236071 p with the Austrian companies register, with its
corporate seat in Saalfelden am Steinernen Meer and the business address as at the date of this
notification at Industriestraße 3, 5760 Saalfelden, Austria, herewith confirm receipt of this
letter. We further confirm that in our capacity as managing directors of SIG Austria Holding GmbH
that we have taken notice of the pledge according to the provisions of the Share Pledge Agreement.

l, on
l 2010

 

l

as

managing director of

SIG Austria Holding GmbH

 

l

as

managing director of

SIG Austria Holding GmbH

- 30 -exv4w158

EXHIBIT 4.158

The taking of this document or any certified copy of it or any other document which
constitutes substitute documentation for it, or any document which includes written confirmations
or references to it, into Austria as well as printing out any e-mail communication which refers to
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.

Share Pledge Agreement

between

1.      SIG Finanz AG

as Pledgor

and

2.      Wilmington Trust (London) Limited

as Pledgee and Collateral Agent

 

 

Contents

	 	 	 	 	 

	Whereas:
	 	 	3	 
	1. Definitions
	 	 	3	 
	2. Construction
	 	 	8	 
	3. Secured Obligations
	 	 	9	 
	4. Pledges
	 	 	9	 
	5. Dividends
	 	 	9	 
	6. Exercise of Voting Rights
	 	 	10	 
	7. Perfection of Security and Further Security
	 	 	11	 
	8. Enforcement of Pledges
	 	 	12	 
	9. Undertakings of the Pledgor
	 	 	14	 
	10. Acknowledgment by Pledgor
	 	 	15	 
	11. Representations and Warranties of the Pledgor
	 	 	15	 
	12. Duration and Independence
	 	 	16	 
	13. Partial Invalidity; Waiver
	 	 	16	 
	14. Further Assurance
	 	 	16	 
	15. Amendments; Waiver
	 	 	17	 
	16. Miscellaneous
	 	 	17	 
	17. Execution in Counterparts
	 	 	18	 
	18. Stamp Duty
	 	 	19	 
	19. Choice of Law
	 	 	19	 
	20. Settlement of Disputes
	 	 	19	 

Schedules

Schedule A            Power of Attorney for share transfer (Clause 8.1.4)

Schedule B            Voting Power (Clause 8.1.5)

Schedule C            Notification Letter (Clause 7.1.1)

 

 

Whereas:

A. Pursuant to the Credit Agreement (as defined below) the Lenders (as defined therein) under this
agreement granted to the Borrowers (as defined below) facilities as provided therein.

B. Pursuant to the Senior Secured Note Indenture (as defined below) the Issuers (as defined
therein) have issued certain notes.

C. The Pledgor is foreseen to grant a pledge over its Shares (as defined below) in the Company (as
defined below) as security for the Secured Parties’ (as defined below) respective claims against
the Borrowers under the Loan Documents (as defined below).

D. The security created by or pursuant to this Agreement (as defined below) is to be administered
by the Collateral Agent (as defined below) for and on behalf of the Secured Parties pursuant to the
relevant provisions of the First Lien Intercreditor Agreement (as defined below).

Now, it is agreed as follows:

1. Definitions

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

	 	 	 	 	 

	Additional Collateral
Agent’s Fee Letter	 	means the fee letter dated 20 January 2010
among the Collateral Agent and Reynolds Group
Holdings Limited as amended, novated,
supplemented, restated or modified from time to
time.
	 
	 	 	 	 
	Agreed Security Principles	 	has the meaning it is given in the Credit
Agreement and the Senior Secured Note Indenture
and to the extent of any inconsistency the
meaning it is given in the Credit Agreement
shall prevail.
	 
	 	 	 	 
	Agreement	 	means this share pledge agreement, as the same
may from time to time be varied, amended,
extended, restructured, renewed, novated,
supplemented, restated, replaced or modified
from time to time.
	 
	 	 	 	 
	Amendment No.1 and
Joinder Agreement	 	means the joinder agreement dated 21 January
2010 made among (amongst others) the Collateral
Agent, The Bank of New York Mellon, Credit
Suisse AG and Reynolds Group Holdings Limited
pursuant to which the Collateral Agent is
appointed an additional collateral agent and
becomes party to the First Lien Intercreditor
Agreement.
	 
	 	 	 	 
	Borrowers	 	has the meaning given to it under the Credit
Agreement from time to time.
	 
	 	 	 	 
	Business Days	 	has the meaning given to it under the Credit
Agreement from time to time.

 

 

	 	 	 	 	 

	 
	 	 	 	 
	Collateral Agent	 	means Wilmington Trust (London) Limited, as
joint and several creditor for and on behalf of
itself and each of the Secured Parties on the
terms and conditions set out in the First Lien
Intercreditor Agreement. The term “Collateral
Agent” shall include any person for the time
being appointed as collateral agent, or as an
additional collateral agent, for the purpose
of, and in accordance with, the First Lien
Intercreditor Agreement and shall include
successors, transferees and permitted assigns.
	 
	 	 	 	 
	Collateral Rights	 	means all rights, powers and remedies of the
Collateral Agent provided by this Agreement or
by law.
	 
	 	 	 	 
	Company	 	means SIG Combibloc GmbH, a limited liability
company organised under the laws of Austria
with its seat in Saalfelden am Steinernen Meer,
Austria, and its business address as at the
date of this Agreement at Industriestraße 3,
5760 Saalfelden, Austria, registered in the
Austrian companies register (Firmenbuch) under
file number FN 237985 d.
	 
	 	 	 	 
	Credit Agreement	 	means a credit agreement dated as of 5 November
2009, among Reynolds Group Holdings Inc.,
Reynolds Consumer Products Holdings Inc., SIG
Euro Holding AG & Co. KG aA, Closure Systems
International Holdings Inc., Closure Systems
International B.V. and SIG Austria Holding GmbH
as borrowers, Reynolds Group Holdings Limited,
the lenders from time to time party thereto and
Credit Suisse AG (formerly known as Credit
Suisse), as administrative agent, as amended,
extended, restructured, renewed, novated,
supplemented, restated, refunded, replaced or
modified from time to time.
	 
	 	 	 	 
	Enforcement Event	 	means an “Event of Default” under, and as
defined in, the First Lien Intercreditor
Agreement.
	 
	 	 	 	 
	Existing Shares	 	means 100% of the shares in the share capital
of the Company on the date of this Agreement
held by the Pledgor and representing an
aggregate nominal amount of EUR 35,000.00 (Euro
thirty five thousand) and such shares being
fully paid in, together with all ancillary
rights and claims associated with the Existing
Shares, in particular the Related Assets.
	 
	 	 	 	 
	First Lien Intercreditor 

Agreement	 	means the first lien intercreditor agreement
dated 5 November 2009 among (amongst others)
The Bank of New York Mellon as collateral agent
and as trustee under the Senior Secured Note
Indenture, Credit Suisse AG (formerly known as
Credit Suisse) as administrative agent under
the Credit Agreement and the Loan Parties, as
amended,

 

 

	 	 	 	 	 

	 	 	novated, supplemented, restated or
modified from time to time (including by the
Amendment No.1 and Joinder Agreement which
added the Collateral Agent as a collateral
agent under the First Lien Intercreditor
Agreement).
	 
	 	 	 	 
	Future Shares	 	means all additional shares to be held by the
Pledgor in the share capital of the Company in
whatever nominal value which the Pledgor may
acquire in the future in the event of an
increase of the capital of the Company, in the
event of a merger of the Company, in the event
of a demerger of the Company, in the event of a
conversion of the Company, or otherwise based
on and/or related to the Existing Shares,
together with all ancillary rights and claims
associated with the Future Shares, in
particular the Related Assets.
	 
	 	 	 	 
	Intercreditor Arrangements	 	means the First Lien Intercreditor Agreement
and any other document that is designated by
the Loan Parties’ Agent and the Collateral
Agent as an intercreditor agreement, in each
case as amended, novated, supplemented,
restated, replaced or modified from time to
time.
	 
	 	 	 	 
	Issuers	 	has the meaning given to it in the Senior
Secured Note Indenture, including their
successors in interest.
	 
	 	 	 	 
	Lien	 	has the meaning given to it in the First Lien
Intercreditor Agreement.
	 
	 	 	 	 
	Loan Documents	 	means the “Credit Documents” under, and as
defined in, the First Lien Intercreditor
Agreement and any other document designated by
the Loan Parties’ Agent and the Collateral
Agent as a Loan Document.
	 
	 	 	 	 
	Loan Parties	 	means the “Grantors” under, and as defined in,
the First Lien Intercreditor Agreement.
	 
	 	 	 	 
	Loan Parties’ Agent	 	means Reynolds Group Holdings Limited
(previously known as Rank Group Holdings
Limited).
	 
	 	 	 	 
	Parallel Obligations	 	means the independent obligations of any of the
Loan Parties arising pursuant to the First Lien
Intercreditor Agreement to pay to the
Collateral Agent sums equal to the sums owed by
such Loan Party to the other Secured Parties
(or any of them) under the Loan Documents.
	 
	 	 	 	 
	Party	 	means a party to this Agreement. The term
“Parties” means any of them.
	 
	 	 	 	 
	Pledge	 	has the meaning given to it in Clause 4.1.
	 
	 	 	 	 
	Pledgee	 	means the Collateral Agent.

 

 

	 	 	 	 	 

	Pledgor	 	means SIG Finanz AG, a company organized under
the laws of Switzerland, registered with the
Handelsregister des Kanton Schaffhausen Nr. CH
290.3.004.147-6, with its seat in Neuhausen am
Rheinfall, Switzerland and its business address
as at the date of this Agreement at Laufengasse
18, CH-8212 Neuhausen am Rheinfall.
	 
	 	 	 	 
	Principal Finance
Documents	 	means the Credit Agreement, the Senior Secured
Note Indenture, the Intercreditor Arrangements
and any Additional Agreement.
	 
	 	 	 	 
	Private Sale	 	has the meaning given to it in Clause 8.1.
	 
	 	 	 	 
	Public Auction	 	has the meaning given to it in Clause 8.1.
	 
	 	 	 	 
	Related Assets	 	means all dividends, interest and other monies
payable in respect of the Shares and all other
rights, benefits and proceeds in respect of or
derived from the Shares (whether by way of
redemption, bonus, preference, option,
substitution, conversion or otherwise) held by
or to the order of the Pledgor at any time.
	 
	 	 	 	 
	Secured Obligations	 	means 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 Loan Party
and each grantor of a security interest to the
Secured Parties (or any of them) under each or
any of the Loan Documents including in
particular, but not limited to, the Parallel
Obligations together with all costs, charges
and expenses incurred by any Secured Party in
connection with the protection, preservation or
enforcement of its respective rights under the
Loan Documents or any other documents
evidencing or securing any such liabilities
provided always that the Pledgor (A) shall only
be liable under this Agreement or any other
Loan Document (including, for the avoidance of
doubt, any restructuring of the Pledgor’s
rights of set-off and/or subrogation and its
duties to subordinate claims) in relation to
obligations (other than obligations under the
Loan Documents of (y) the Pledgor (i) incurred
as Borrower under the Credit Agreement, (ii)
incurred as borrower under a Local Facility
Agreement (as defined in the Credit Agreement),
(iii) incurred as a party to and beneficiary
under any Hedging Agreement (as defined in the
Credit Agreement), (iv) owed as Cash Management
Obligations, provided the Pledgor is a
beneficiary of the Cash Management Services
causing such Cash Management Obligations (all
as defined in the Credit Agreement), (v)
incurred as a party to and beneficiary under
any Additional Agreement or (vi) to the extent
certain proceeds of the Senior Secured Note
Indenture have been made available to the
Pledgor,

 

 

	 	 	 	 	 

	 	 	up to such proceeds and (z) a direct
or indirect subsidiary of the Pledgor (the
“Pledgor’s Subsidiary”) (i) incurred as
Borrower under the Credit Agreement, (ii)
incurred as borrower under a Local Facility
Agreement (as defined in the Credit Agreement),
(iii) incurred as a party to and beneficiary
under any Hedging Agreement (as defined in the
Credit Agreement), (iv) owed as Cash Management
Obligations, provided the Pledgor’s Subsidiary
is a beneficiary of the Cash Management
Services causing such Cash Management
Obligations (all as defined in the Credit
Agreement), (v) incurred as a party to and
beneficiary under any Additional Agreement or
(vi) to the extent certain proceeds of the
Senior Secured Note Indenture have been made
available to the Pledgor’s Subsidiary, up to
such proceeds) to the extent such obligations
do 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 Pledgor and
in the maximum amount of its profits available
for the distribution of dividends at the point
in time the Pledgor’s obligations fall due
(being the balance sheet profits and any free
reserves made for this purpose, in each case in
accordance with the relevant Swiss law); (B)
pass for such payments shareholder’s
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 a report from the
Pledgor’s auditors approving the proposed
distribution of dividends); and (C) deduct from
such payments 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:
	 
	 	 	 	 
	 

	 	 	(i) pay such deduction to the Swiss Federal Tax
Administration; and
	 
	 	 	 	 
	 

	 	 	(ii) give evidence to the respective Secured
Party beneficiary or Secured Parties
beneficiaries (as the same may be) of such
deduction in accordance with Section 2.20 of
the Credit Agreement (Taxes) and Section 4.15
of the Senior Secured Note Indenture
(Withholding Taxes);
	 
	 	 	 	 
	 

	 	 	(iii) but if such a deduction is made, not be
obliged to gross-up pursuant to Section 2.20 of
the

 

 

	 	 	 	 	 

	 

	 	 	Credit Agreement (Taxes) and Section 4.15
of the Senior Secured Note Indenture
(Withholding Taxes) to the extent that such
gross-up would result in the aggregate amounts
paid to the Secured Parties beneficiaries and
the Swiss Federal Tax administration exceeding
the maximum amount of its profits available for
the distribution of dividends.
	 
	 	 	 	 
	Secured Parties	 	means the “Secured Parties” under, and as
defined in, the First Lien Intercreditor
Agreement.
	 
	 	 	 	 
	Security Documents	 	has the meaning given to it in the First Lien
Intercreditor Agreement.
	 
	 	 	 	 
	Senior Secured Note
Indenture	 	means the Indenture dated as of 5 November
2009, among the Issuers, the Note Guarantors
(as defined therein) and The Bank of New York
Mellon, as trustee, principal paying agent,
transfer agent and registrar, as amended,
extended, restructured, renewed, refunded,
novated, supplemented, restated, replaced or
modified from time to time.
	 
	 	 	 	 
	Shares	 	means the Existing Shares and the Future Shares.

2. Construction

In this Agreement, unless the context otherwise requires:

	 	(a)	 	the rules of interpretation contained in the First Lien Intercreditor Agreement apply
to the construction of this Agreement and any notice given under or in connection with this
Agreement.
	 
	 	(b)	 	unless otherwise stated, a “Clause” is a reference to a Clause of this Agreement;
	 
	 	(c)	 	unless otherwise stated, a “Schedule” is a reference to a Schedule of this Agreement
and references to this Agreement include its Schedules;
	 
	 	(d)	 	words importing the plural shall include the singular and vice versa;
	 
	 	(e)	 	a reference to (or to any specified provision of) any agreement, deed or other
instrument (for the avoidance of doubt including, but not limited to, such agreements,
deeds or other instruments which are entered into prior to or after the conclusion of this
Agreement) is to be construed as a reference to that agreement, deed or other instrument or
that provision as from time to time amended, extended, restructured, renewed, refunded,
novated, supplemented, restated, replaced or modified; and
	 
	 	(f)	 	this Agreement is subject to the terms of the Intercreditor Arrangements. In the event
of a conflict between the terms of this Agreement and the Intercreditor Arrangements, the
terms of the Intercreditor Arrangements will prevail.

 

 

3. Secured Obligations

3.1 The Pledges hereunder are constituted in order to secure the prompt and complete satisfaction
of any and all Secured Obligations. The security created hereunder shall remain in full force and
effect as a continuing security for the Secured Obligations unless and until the earlier of the
following occurs: (i) discharge by the Collateral Agent, (ii) complete satisfaction or explicit
waiver of any and all Secured Obligations or (iii) discharge in accordance with Clauses 16.1 or
16.2.

3.2 The parties to this Agreement agree that in the case of a transfer or assignment or novation of
any Secured Obligations in accordance with the terms of the Principal Finance Documents, the
Pledges hereunder shall not lapse but shall continue to secure such transferred or assigned or
novated Secured Obligations.

3.3 Furthermore, the parties to this Agreement agree that in case of a substitution of any Loan
Party or the assumption of any of the Secured Obligations from any Loan Party or the transfer of
any of the Secured Obligations from any Loan Party to another person, the Pledges hereunder shall
not lapse but shall continue to secure such Secured Obligations in accordance with section 1407
para 2 of the Austrian General Civil Code (Allgemeines Bürgerliches Gesetzbuch).

4. Pledges

4.1 The Pledgor hereby pledges to the Collateral Agent the Shares (each a “Pledge” and together the “Pledges”).

4.2 Subject to any Liens permitted by the Principal Finance Documents and subject to any Legal
Reservations (as defined in the Credit Agreement), the Pledges shall rank ahead of any other Lien
now in existence or created in future in or over any of the Shares, unless otherwise permitted by
the Principal Finance Documents. The validity and effect of each of the Pledges shall be
independent from the validity and effect of any other Pledges created hereunder.

4.3 The Collateral Agent hereby accepts the Pledges.

4.4 Each of the Pledges is in addition and without prejudice to any other security that a Secured
Party may now or hereafter hold in respect of the Secured Obligations.

5. Dividends

5.1 Subject to Clause 5.2 below, the Pledges constituted by this Agreement include the present and
future rights to:

	 	(a)	 	receive dividends payable in relation to the Shares, if any;
	 
	 	(b)	 	receive liquidation proceeds, consideration for redemption (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) and all other pecuniary claims, in each case, associated with the
Shares; and
	 
	 	(c)	 	subscribe newly issued Future Shares issued by the Company to the Pledgor. For the
avoidance of doubt, the Company is permitted to issue shares to other persons (other

 

 

	 	 	 	than
the Pledgor) and those shares are not subject to this Pledge, so the Collateral Agent shall
not have any right to such shares under this Agreement.

5.2 Notwithstanding the rights pledged hereunder, including those rights set out in Clause 5.1, the
Pledgor shall (subject to the terms of the Principal Finance Documents) be entitled to receive and
retain all dividend payments whether in cash, by the issue of any loan note or debt instrument in
respect of the Shares or otherwise and hold and exercise the benefit of all rights set out in
Clause 5.1 (i) unless an Enforcement Event has occurred and is continuing or (ii) unless the
exercise of such rights is prohibited by the Principal Finance Documents.

5.3 Notwithstanding Clause 5.2 above, if an Enforcement Event has occurred and is continuing:

	 	(a)	 	dividends paid or payable by way of cash or otherwise distributed in exchange for the
Shares; and
	 
	 	(b)	 	dividends or other distributions paid or payable in cash 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 capital, capital surplus or paid-in surplus; and
	 
	 	(c)	 	cash or other property or instrument paid, payable or otherwise distributed in respect
of principal of or on redemption of the Shares,

shall be and shall forthwith be delivered to the Collateral Agent to be held as security and shall,
if received by the Pledgor, be received as trustee of the Collateral Agent and kept segregated from
the other property or funds of the Pledgor and be forthwith delivered to the Collateral Agent as
security in the same form as so received (with any necessary endorsement). The terms of this
Agreement shall apply mutatis mutandis to such security.

5.4 Throughout the existence of this Agreement, during such time as the Pledgor shall record any
claims set out in Clause 5.2 hereof in its books and accounts, it shall keep an annotation
(Buchvermerk) of such pledge in such books and accounts specifying the signing date of this
Agreement, as well as the Collateral Agent as pledgee. Subject to the Agreed Security Principles,
the Pledgor shall maintain and, if appropriate, modify such annotation (and take such other steps
and actions from time to time) as may be necessary in order to ensure the validity and perfection
of the pledge under the applicable law.

6. Exercise of Voting Rights

6.1 Unless an Enforcement Event has occurred and is continuing, the voting rights and all other
rights and powers not otherwise prohibited by the Principal Finance Documents resulting from and
relating to the Shares remain with the Pledgor, provided that the Pledgor shall not exercise such
voting or other rights in any manner in respect of, or otherwise permit or agree to (i) any
variation of the rights attaching to or conferred by all or any of the Shares or (ii) any increase
in the issued share capital of the Company, in each case, to the extent such action would adversely
affect the validity or enforceability of the security created by this Agreement. The Pledgor
undertakes to exercise its voting rights from time to time so that no resolutions are passed which
adversely affect the validity or enforceability of the security created by this Agreement, in
particular but not limited to, any resolution in respect of the reduction or increase of the
Company’s share capital, any merger or demerger of the Company or its liquidation, dissolution or
the termination of its
existence or the cessation of its business activities, in each case unless otherwise permitted by
the Principal Finance Documents or with the prior written consent of the Collateral Agent.

 

 

6.2 The Pledgor shall not take, or participate in, any action which results or would result in the
Pledgor’s loss of ownership of the Shares or pursue any other transaction which would have the same
result as a sale, transfer, encumbrance or other disposal of the Shares or which would for any
other reason be inconsistent with the security interest of the Collateral Agent or the security
purpose (as described in Clause 3 hereof) or defeat, materially impair or circumvent the rights of
the Secured Parties, except pursuant to a transaction foreseen or permitted by the Loan Documents
or with the prior written consent of the Collateral Agent.

6.3 The Pledgor shall inform the Collateral Agent without delay of all matters concerning the
Company of which the Pledgor is or becomes aware, which would materially adversely affect the
validity or enforceability of the security created by this Agreement. The Pledgor shall allow,
following the occurrence of an Enforcement Event and subsequent enforcement of the Pledges pursuant
to Clause 8.1 the Collateral Agent or, as the case may be, its proxy or any other person designated
by the Collateral Agent in accordance with this Agreement to participate in all such shareholders’
meetings of the Company. The Collateral Agent’s right to attend all shareholders’ meetings shall
lapse immediately once the earlier of the following occurs: (i) discharge by the Collateral Agent,
(ii) complete satisfaction of any and all Secured Obligations or (iii) discharge in accordance with
Clause 16.1.

7. Perfection of Security and Further Security

7.1 The Pledgor hereby undertakes, subject to the Agreed Security Principles, to make all notices,
registrations and filings required by the Collateral Agent (acting on the reasonable instruction of
the Applicable Representative) in relation to this Agreement, in particular with regard to Future
Shares acquired by the Pledgor by whatever means and in whatever way, including the merger with
other companies, the demerger of the Company, the conversion of the Company or the acquisition of
other enterprises.

7.1.1 Upon signing of this Agreement the Pledgor will promptly

	 	(a)	 	notify the Company of this Pledge by letter substantially in the form of Schedule C to
this Agreement. By countersigning Schedule C to this Agreement the Company confirms that it
has been given full notice that its shareholder, SIG Finanz AG, has pledged all Shares to
the Collateral Agent as provided for in this Agreement; and
	 
	 	(b)	 	mark in its books the Existing Shares as being pledged.

7.1.2 With regard to any and all Future Shares acquired by the Pledgor, the Pledgor will promptly
after the acquisition of such Future Shares mark in its books such Future Shares as being pledged.

7.2 In case of a conversion of the Company, a merger or demerger of the Company or any other form
of reorganisation and/or restructuring relating to the Company, the shares held by the Pledgor in
any successor company to the Company (if such successor company is incorporated in Austria) shall,
subject to obtaining any necessary consents, also be covered by the Pledges established under this
Agreement. The Pledgor shall take, subject to the Agreed Security Principles, all steps to
effectuate and perfect such pledge including the execution and effectuation of a new pledge in the
same rank. To that end the Pledgor will, subject to the Agreed Security Principles,
provide the Collateral Agent with all documents required by the Collateral Agent (acting on the
reasonable instruction of the Applicable Representative) for (i) assessing the actions with respect

 

 

to and the effects of conversion, merger, split-off or other form of reorganization and/or
restructuring, and (ii) the creation, enforcement, perfection or registration of any new security
interest in favour of the Collateral Agent including drafts of the merger and/or conversion and/or
reorganisation and/or restructuring documents in advance.

8. Enforcement of Pledges

8.1 Subject to the Legal Reservations (as defined in the Credit Agreement), the Pledgor herewith
grants its express consent that if an Enforcement Event has occurred and is continuing, the
Collateral Agent shall be entitled to realize without writ, judgement or any other legal court
action the Shares by applying in analogy the provisions of sections 466a et seq. of the Austrian
General Civil Code (Allgemeines Bürgerliches Gesetzbuch — ABGB) and § 368 para 1 of the Austrian
Business Code (Unternehmensgesetzbuch — UGB) by public auction (“Public Auction”) or by private
sale either with or without the assistance of a court (“Private Sale”). In such case the Collateral
Agent is obliged to request in writing that the party causing the default and the Pledgor meet
their respective obligations within 2 weeks of service of such request and shall inform the Pledgor
and such Party in default in such request that a Public Auction or Private Sale will take place if
the relevant obligations are not performed in full. The Public Auction or the Private Sale can take
place only after the aforementioned term has elapsed without full performance of the outstanding
obligations. The Public Auction or the Private Sale may take place at any place in Austria or
Germany. Subject to the Legal Reservations (as defined in the Credit Agreement), the Pledgor
herewith expressly agrees that the Collateral Agent is entitled to enforce its rights and remedies
under the Pledges in the above manner and it expressly waives any rights of first refusal, option
rights, consent requirements and any other rights which it might now or in the future have with
respect to the Shares, so that any enforcement of the Pledges may occur freely and without
restriction.

8.1.1 Any Private Sale or Public Auction shall only be made upon prior assessment of the Shares by
an Austrian independent certified public accountant. If the Pledgor and the Collateral Agent do not
reach agreement on the identity of the Austrian independent certified public accountant within 10
days after the lapse of the aforementioned period of 2 weeks, such independent certified public
accountant shall be appointed by the President of the Chamber of Accountants, Vienna (Kammer der
Wirtschaftstreuhänder, Wien). The assessment of the Shares shall be made by such certified public
accountant in accordance with the Rules and Guidelines (KFS BW1) of the Special Committee for
Business Management and Organization of the Institute for Business Management, Tax Law and
Organization of the Chamber of Certified Public Accountants for the Valuation of Enterprises
(Fachgutachten (KFS BW1) des Fachsenats für Betriebswirtschaft und Organisation des Instituts für
Betriebswirtschaft, Steuerrecht und Organisation der Kammer der Wirtschaftstreuhänder über die
Unternehmensbewertung) as may be valid from time to time or in accordance with any appropriate
substitute rules and guidelines. Within a period of at least 4 weeks from the date of service of
the respective letter of demand, the Collateral Agent shall inform the Pledgor and the party
causing the default of the terms and conditions, the place, the time and the Collateral Agent’s
instructions for the Public Auction or the Private Sale. In case of both a Public Auction and a
Private Sale the Shares must not be transferred at a price which is below the value assessed by the
expert. Each Secured Party, any affiliates of each Secured Party, the Pledgor as well as the
Collateral Agent are entitled to participate in a Public Auction or in a Private Sale.

8.1.2 The Pledgor may notify the Collateral Agent of potential bona-fide purchasers willing to
acquire the Shares at the price which is at least equal to the price assessed by the expert. A
bona-
fide purchaser shall only be a person that is able to pay the full price of the Shares immediately
in

 

 

cash. The Private Sale shall be made with the diligence usual for a bank and with due observance
of the Pledgor’s interests.

8.1.3 Subject to the Legal Reservations (as defined in the Credit Agreement), the Pledgor herewith
grants its express consent that if an Enforcement Event has occurred and is continuing, the
Collateral Agent shall be entitled to collect from the Company on behalf of the Pledgor — without
writ, judgement or any other legal court action — payments on account of rights to dividend by
simple notification to the Company that an Enforcement Event has occurred and is continuing, and
the Pledgor shall use all reasonable endeavours to procure that the Company acts in accordance
therewith. As from receipt of the aforementioned notification, provided such Enforcement Event
specified in the notification is continuing, the Pledgor shall use all reasonable endeavours to
procure that the Company does not effect payment of dividends to the Pledgor.

8.1.4 For the purposes of a Public Auction or Private Sale in accordance with Clause 8.1 the
Pledgor hereby irrevocably authorizes and empowers the Collateral Agent by separate power of
attorney to demand and apply for a Public Auction or Private Sale in the name of the Pledgor and to
take all steps necessary to effect such a realization. For the purposes of a Public Auction or a
Private Sale in accordance with Clause 8.1 the Pledgor hereby grants to the Collateral Agent an
irrevocable power of attorney to sign and execute on its behalf a notarial deed on the assignment,
in full or in part, of the Shares to one or several purchaser(s) of such Shares in the Public
Auction or the Private Sale at a price determined on such occasion, to sign all documents and make
all legally binding declarations related thereto, in particular to sign one or more assignment
deeds in the form of a notarial deed, also in the form of an offer and acceptance deed, to receive
the transfer price on the Pledgor’s behalf and to determine all conditions of such agreements.
Furthermore, promptly upon signing of this Agreement the Pledgor grants a power of substitution
within the scope of this power of attorney to the Collateral Agent (Schedule A). For the avoidance
of doubt, the Collateral Agent agrees that the rights and powers under the power of attorney in
this Clause 8.1.4 and Schedule A are exercisable, and it will exercise such rights and powers, only
if an Enforcement Event has occurred and is continuing.

8.1.5 Upon signing of this Agreement, the Pledgor grants by separate deed a power of attorney to
the Collateral Agent to represent the Pledgor as shareholder of the Company in shareholders’
meetings of the Company and when passing resolutions in writing and to exercise the Pledgor’s
voting rights (Schedule B) in each case if an Enforcement Event has occurred and is continuing. The
Collateral Agent may exercise this power of attorney only (i) if an Enforcement Event has occurred
and is continuing or (ii) upon receiving notice from the Applicable Representative, the Loan
Parties’ Agent and/or the Pledgor of failure by the Pledgor to comply with a further assurance or
perfection obligation under Clause 14 within 10 Business Days of being notified of that failure
(with a copy of that notice being sent to the Loan Parties’ Agent) and being requested to comply
and then only in respect of such further assurance or perfection obligations.

8.2 In case the Secured Parties acting through the Collateral Agent should seek to enforce the
Pledges pursuant to, and in accordance with Clause 8.1 above, 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 Secured Parties acting through the Collateral
Agent of any other right they may have under this Agreement as Secured Parties. The Pledgor as sole
shareholder of the Company herewith irrevocably consents to the transfer of the Shares or any part
thereof to any third party in accordance with the provisions of this Agreement.

 

 

8.3 In the event of the enforcement of the Pledges, no rights of the Secured Parties shall pass to
the Pledgor by subrogation or otherwise unless and until all of the Secured Obligations have been
satisfied and discharged finally and in full. Until then, the Secured Parties shall be entitled to
treat all enforcement proceeds as additional collateral for the Secured Obligations or to seek
satisfaction from such proceeds at any time.

8.4 The proceeds from the enforcement of the Pledges shall, after deduction of enforcement costs,
which are to be borne by the Pledgor to the extent set out in the Principal Finance Documents, and
any preferential debts, be paid to the Collateral Agent. Any moneys received by the Collateral
Agent pursuant to this Agreement and/or under the powers hereby conferred shall be applied by the
Collateral Agent in accordance with the terms of the Intercreditor Arrangements, save that any
amount received or recovered in excess of the Secured Obligations shall be returned to the Pledgor.

8.5 The Collateral Agent may determine which of the securities granted pursuant to the Security
Documents, if applicable, shall be used to satisfy the Secured Obligations in accordance with the
Intercreditor Arrangements.

8.6 The Pledgor waives its rights of revocation (Anfechtbarkeit) to the extent legally permissible
and its right to set-off (Aufrechenbarkeit).

8.7 The Pledgor as sole shareholder of the Company grants his express consent and authorization to
the enforcement of the Pledges by the Collateral Agent in accordance with Clauses 8.1 to 8.6.

8.8 Subject to the terms of and to the extent set out in the Principal Finance Documents, the
Pledgor agrees that the Collateral Agent, its officers, employees, advisors, agents and delegates
shall not be bound by any applicable banking secrecy obligations, including, but not limited to,
the obligation as stipulated in section 38 of the Austrian Banking Act (Bankwesengesetz), in
connection with the creation and enforcement of the Pledges.

9. Undertakings of the Pledgor

During the term of this Agreement, the Pledgor undertakes to the Secured Parties (unless with the
prior written consent of the Collateral Agent (acting on the reasonable instructions of the
Applicable Representative) or unless otherwise permitted by the terms of the Principal Finance
Documents or this Agreement):

	 	(a)	 	not to sell or to dispose of the Shares or any interest therein; and
	 
	 	(b)	 	not to create or agree to create, grant or permit to exist any restriction on the
ability to transfer or realise, all or any part of the Shares; and
	 
	 	(c)	 	to effect promptly any payments to be made in respect of the Shares. If the Pledgor
fails to make any such payment within 10 Business Days of being notified of that failure,
the Collateral Agent may make that payment on behalf of the Pledgor and any sums so paid by
the Collateral Agent shall be reimbursed by the Pledgor promptly on demand, together with
interest on those sums. Such interest shall be calculated from the date on which such
payment is made by the Collateral Agent up to the actual date of payment by the Pledgor to
the Collateral Agent (after, as well as before, judgement) at such commercial rate as the
Collateral Agent may determine (acting on the reasonable in-

 

 

	 	 	 	struction of the Applicable Representative) in accordance with the Principal Finance
Documents; and
	 
	 	(d)	 	not to transfer any Shares nor to offer any Future Shares to a third party; and
	 
	 	(e)	 	not to defeat, impair or circumvent in any way the rights of the Collateral Agent and
the Secured Parties created hereunder, if such action, measures or omissions would have a
Material Adverse Effect (as defined in the Credit Agreement or, if the Credit Agreement is
no longer existing, any Additional Agreements); and
	 
	 	(f)	 	to ensure that the Future Shares, if any, will be fully paid in and there will not be
any obligation for a shareholder of the Company to make additional contributions to the
Company in this regard.

10. Acknowledgment by Pledgor

The Pledgor acknowledges that:

	 	(a)	 	to its knowledge based upon a consolidated group company approach it will receive
adequate direct or indirect benefits as a result of the transactions contemplated by the
Loan Documents; and
	 
	 	(b)	 	to its knowledge each Secured Party has acted in good faith in connection with the
Pledges pursuant to this Agreement and the transactions contemplated by the Loan Documents.

11. Representations and Warranties of the Pledgor

11.1 The Pledgor represents and warrants to the Collateral Agent and the other Secured Parties that
on the date of this Agreement with reference to the facts and circumstances then existing:

	 	(a)	 	the Existing Shares comprise 100% of the shares of the Company; and
	 
	 	(b)	 	subject to any rights to dispose of all or any Shares that the Pledgor has under the
terms of the Loan Documents, it is, and will be, the legal and beneficial owner, free from
any encumbrances, including but not limited to pre-emption rights, of all of the Shares
owned by it, other than as permitted by the Principal Finance Documents or arising under
applicable laws; and
	 
	 	(c)	 	the Existing Shares have been duly and validly issued and are paid in with an amount of
EUR 35,000.00 and there is not any obligation for a shareholder of the Company to make
additional contributions to the Company in respect of the Existing Shares; and
	 
	 	(d)	 	unless otherwise permitted under the terms of the Loan Documents, it has not sold or
disposed of, the benefit of all or any of its rights, title and interest in the Shares.

11.2 All the representations and warranties in Clauses 11.1(b), (c) and (d) are made to each
Secured Party on the date of this Agreement and all such representations and warranties are deemed
to be repeated as true and correct in each material respect by the Pledgor to each Secured Party on
the date of a Credit Event (as defined in the Credit Agreement) during the continuance of this
Agreement.

 

 

12. Duration and Independence

12.1 This Agreement shall remain in full force and effect until the earlier of the following
occurs: (i) discharge by the Collateral Agent, (ii) complete satisfaction or explicit waiver of any
and all Secured Obligations or (iii) discharge in accordance with Clauses 16.1 or 16.2.

12.2 This Agreement shall create a continuing security which means that no change, amendment,
supplement or novation whatsoever of the Secured Obligations and/or in the Loan Documents or in any
document or agreement related to the Secured Obligations and/or any of the Loan Documents shall
affect the validity or the scope of this Agreement nor the obligations which are imposed on the
Pledgor pursuant hereto.

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

13. Partial Invalidity; Waiver

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

13.2 In particular, the Pledges shall not be affected and shall in any event extend to any and all
Shares held by the Pledgor in the Company even if the percentage of shareholding or the nominal
value of the Existing Shares or the aggregate share capital of the Company as stated in Clause 1
are inaccurate or deviate from the actual facts.

13.3 No failure to exercise, nor any delay in exercising, on the part of the Collateral Agent or
the Secured Parties, 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.

13.4 The security interest constituted by this Agreement and the Collateral Rights shall be
cumulative, in addition to and independent of every other security which the Collateral Agent may
at any time hold for the Secured Obligations or any rights, powers and remedies provided by law. No
prior security held by the Collateral Agent over the whole or any part of the Shares shall merge
into the security interest constituted by this Agreement.

14. Further Assurance

14.1 Subject to the Agreed Security Principles, the Pledgor shall promptly execute all documents
(including transfers) and do all things (including the delivery, transfer, assignment or payment of
all or part of the Shares to the Collateral Agent or its nominee(s)) that the Collateral Agent may
specify (upon the reasonable instruction of the Applicable Representative) for the purpose of (a)
(if an Enforcement Event has occurred and is continuing) exercising the Collateral Rights or (b)

 

 

securing and perfecting the security intended to be created by this Agreement over all or any part
of the Shares.

14.2 At any time if an Enforcement Event has occurred and is continuing, the Pledgor shall upon
demand from the Collateral Agent execute all documents and do all other things that the Collateral
Agent may require (upon the reasonable instruction of the Applicable Representative) to facilitate
the realisation of the Shares.

15. Amendments; Waiver

Any amendments, changes, variations or waivers to this Agreement may be made only with the
agreement of the Pledgor and the Collateral Agent in writing and, if required under Austrian
statutory law, in the form of a notarial deed. This applies also to this Clause 15.

16. Miscellaneous

16.1 The security constituted by this Agreement shall be released, reassigned, re-transferred and
cancelled:

	 	(a)	 	by the Collateral Agent (acting on the instructions of the Applicable Representative)
at the request and cost of the Pledgor, upon the Secured Obligations being irrevocably paid
or discharged in full and none of the Secured Parties being under any further actual or
contingent obligation to make advances or provide other financial accommodation to the
Pledgor or any other person under any of the Loan Documents; or
	 
	 	(b)	 	in accordance with, and to the extent required by, the Intercreditor Arrangements (to
the extent it is possible to give effect to such arrangements under Austrian law.

16.2 If the Pledgor disposes of any Shares and that disposal is permitted by the Principal Finance
Documents, such Shares shall, unless an Enforcement Event has occurred and is continuing, be
automatically released, re-assigned, re-transferred and cancelled from the security constituted by
this Agreement with effect from the day of such disposal and the Collateral Agent (at the expense
and cost of the Pledgor) shall do all such acts which are reasonably requested by the Pledgor in
order to release, re-assign, re-transfer and cancel the relevant Shares from the security
constituted by this Agreement. Any or all of the Shares shall also be released, re-assigned,
re-transferred and cancelled in accordance with and to the extent permitted by the Intercreditor
Arrangements.

16.3 Any settlement or discharge between the Pledgor and the Collateral Agent shall be conditional
upon no security or payment to the Collateral Agent by the Pledgor or any Loan Party being avoided,
set aside, ordered to be refunded or reduced by virtue of any provision or enactment relating to
insolvency, and accordingly the Collateral Agent shall be entitled to recover from the Pledgor that
security or the amount of any such payment as if that settlement or discharge had not occurred.

16.4 None of the Collateral Agent, its nominee(s) or any receiver appointed pursuant to this
Agreement shall be liable by reason of (a) taking any action permitted by this Agreement or (b) any
neglect or default in connection with the Shares or (c) the taking possession or realisation of all
or any part of the Shares, except to the extent provided in the Principal Finance Documents.

 

 

16.5 For the purpose of or pending the discharge of any of the Secured Obligations, the Collateral
Agent may convert any money received, recovered or realised or subject to application by it under
this Agreement from one currency to another, which the Collateral Agent considers necessary (acting
on the reasonable instruction of the Applicable Representative) to cover the obligations and
liabilities comprised in the Secured Obligations and any such conversion shall be effected at the
Collateral Agent’s spot rate of exchange for the time being for obtaining such other currency with
the first currency.

16.6 This Agreement shall remain in effect despite any amalgamation or merger (however effected)
relating to the Collateral Agent; and references to the Collateral Agent shall include any
assignee, transferee or successor in title of the Collateral Agent and any person who, under the
laws of its jurisdiction of incorporation or domicile, has assumed the rights and obligations of
the Collateral Agent under this Agreement or to which, under such laws, those rights and
obligations have been transferred.

16.7 Subject to Section 4.05 of the First Lien Intercreditor Agreement (to the extent permitted by
Austrian law), the Collateral Agent shall have full power to delegate (either generally or
specifically) the powers, authorities and discretions conferred on it by this Agreement (including
the power of attorney) on such terms and conditions as it shall see fit which delegation shall not
preclude either the subsequent exercise, any subsequent delegation or any revocation of such power,
authority or discretion by the Collateral Agent.

16.8 To the extent set out in Section 4.11 of the First Lien Intercreditor Agreement and in the
Additional Collateral Agent’s Fee Letter, the Pledgor shall, notwithstanding any release or
discharge of all or any part of the security, indemnify the Collateral Agent, its agents, its
attorneys and any delegate against any action, proceeding, claims, losses, liabilities, expenses,
demands, taxes and costs which it may sustain as a consequence of any breach by the 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 Shares.

16.9 The Pledgor acknowledges and agrees that the Collateral Agent’s actions under this Agreement
are on the basis of authority conferred under the Principal Finance Documents to which the
Collateral Agent is a party, and on directions of the Applicable Representative. In so acting, the
Collateral Agent shall have, subject to the terms of the Principal Finance Documents, the
protections, immunities, rights, indemnities and benefits conferred on the collateral agent under
the Principal Finance Documents.

16.10 For the avoidance of doubt, it is acknowledged that the Collateral Agent is permitted to act
on the instructions of the Applicable Representative in accordance with Clause 2.02(a)(i) of the
First Lien Intercreditor Agreement. It is further acknowledged that the Collateral Agent may assume
that any and all instructions received by it from the Applicable Representative under this
Agreement are reasonable, and that any question as to the reasonableness or otherwise of such
instructions shall be determined as between the Applicable Representative and the Pledgor.

17. Execution in Counterparts

This Agreement may be executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same Agreement. In
this respect the Collat-

 

 

eral Agent and the Pledgor agree not to contest the validity of an uncertified copy of this
Agreement in any court or enforcement proceedings in the Republic of Austria.

18. Stamp Duty

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

19. Choice of Law

This Agreement shall be governed in all respects by the laws of Austria.

20. Settlement of Disputes

20.1 Jurisdiction of English Courts

	(a)	 	The courts of England, shall have exclusive jurisdiction to settle any dispute arising out of
or in connection with this Agreement (including a dispute regarding the existence, validity or
termination of this Agreement).
	 
	(b)	 	The Parties agree that the courts of England are the most appropriate and convenient courts
to settle Disputes and accordingly no Party will argue to the contrary.

20.2 Clause 20.1 is for the benefit of the Collateral Agent only. As a result, the Collateral Agent
shall not be prevented from taking proceedings relating to a dispute in any other courts with
jurisdiction. To the extent allowed by law, the Collateral Agent may take concurrent proceedings in
any number of jurisdictions.

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

	(a)	 	irrevocably appoints Law Debenture Corporate Services Limited as its agent for service of
process in relation to any proceedings before the English courts in connection with this
Agreement; and
	 
	(b)	 	agrees that failure by an agent for service of process to notify the Pledgor of the process
will not invalidate the proceedings concerned.

 

 

COLLATERAL AGENT

4 March 2010, London, United Kingdom

	 	 	 	 	 
	 	/s/ Elaine Lockhart
 	 
	 	Wilmington Trust (London) Limited 	 
	 

By: Elaine Lockart

PLEDGOR

4 March 2010, Sydney, Australia

	 	 	 	 	 
	 	/s/ Cindi Lefari
 	 
	 	SIG Finanz AG 	 
	 

By: Cindi Lefari 
       Attorney

	 	 	 	 	 
	/s/ Mark Dunkley
 	 
	SIG Finanz AG 	 
	 
	By: 	Mark
Dunkley
 Attorney
 	 
	 		 
	 

 

 

Schedule A

	 	 	 
	SPEZIALVOLLMACHT	 	SPECIAL POWER OF ATTORNEY
	und	 	and
	 
	EIDESSTÄTIGE ERKLÄRUNG	 	AFFIDAVIT
	 
	 	 
	SIG Finanz AG, eine nach schweizerischen
Recht errichtete Gesellschaft, mit dem
Sitz in Neuhausen am Rheinfall, Schweiz,
und der Geschäftsanschrift zum Zeitpunkt
dieser Vollmacht Laufengasse 18, CH-8212
Neuhausen am Rheinfall, eingetragen im
Handelsregister des Kanton Schaffhausen
unter der Nummer CH 290.3.004.147-6,
bevollmächtigt hiermit

	 	SIG Finanz AG, a company organised under the
laws of Switzerland with its seat in
Neuhausen am Rheinfall, Switzerland and its
business address as at the date of this
power of attorney at Laufengasse 18, CH-8212
Neuhausen am Rheinfall, registered in the
commercial register of the Kanton
Schaffhausen under file number CH
290.3.004.147-6, herewith authorizes
	 
	 	 
	Wilmington Trust (London) Limited, l,

	 	Wilmington Trust (London) Limited, l,
	 
	 	 
	1. in ihrem Namen und auf ihre Rechnung
ihren Geschäftsanteil an der SIG Combibloc
GmbH, eingetragen im österreichischen
Firmenbuch zu FN 237985 d, mit dem Sitz in
Saalfelden am Steinernen Meer und der
Geschäftsanschrift Industriestraße 3, 5760
Saalfelden, Österreich, mit einer zur
Gänze geleisteten Stammeinlage von EUR
35.000,00 (Euro fünfunddreißig tausend)
zur Gänze oder in Teilen an eine oder
mehrere andere Personen abzutreten, sowie
alle damit zusammenhängenden Urkunden zu
zeichnen sowie sämtliche
rechtsgeschäftlichen Erklärungen
abzugeben, insbesondere ein oder mehrere
notarielle Abtretungsverträge — auch in
Form von Anbot und Annahme — zu errichten,
den jeweiligen Abtretungspreis oder einen
Berechnungsmodus für den Abtretungspreis
festzusetzen und alle übrigen Bestimmungen
dieser Abtretungsverträge festzulegen.

	 	1. to assign in its name and on its account
its shares in SIG Combibloc GmbH, a company
registered under FN 237985 d with the
Austrian companies register, with its
corporate seat in Saalfelden am Steinernen
Meer and the business address
Industriestraße 3, 5760 Saalfelden, Austria,
having paid in full an initial contribution
of EUR 35,000.00 (Euro thirty five
thousand), in whole or in part to one or
more other persons, as well as to sign all
documents related thereto as well as to give
other expressions and declarations of will,
in particular to draw up one or more
notarized assignment agreements — also in
the form of offer and acceptance — to fix
the respective assignment price or the
method of calculation for the assignment
price, and to determine all remaining
provisions of these assignment agreements.
	 
	 	 
	2. alle sonstigen mit den in Punkt 1.
bezeichneten Tätigkeiten verbundenen
Handlungen vorzunehmen, Erklärungen
abzugeben und zu empfangen, Unterschriften
beglaubigt und unbeglaubigt zu leisten,
sowie Urkunden in Form eines
Notariatsaktes oder einer notariellen
Beurkundung oder einer ausländischen
Beurkundung (auch in Form eines
ausländischen Notariatsaktes) durch einen
ausländischen Notar zu errichten.

	 	2. to undertake all other actions in
connection with the activities mentioned in
point 1., to issue and receive statements,
to sign with and without notarisation and to
set up documents in the form of a notarial
deed or a notarial recording or another
foreign recording (also in form of a foreign
notarial deed) by a foreign notary public.
	 
	 	 
	3. Die Bevollmächtigte ist von dem Verbot
des Kontrahierens mit sich selbst auf
eigene Rechnung oder als Vertreter eines
Dritten befreit; auch ist die
Doppelvertretung zulässig.

	 	3. The representative is dispensed from the
prohibition of self-contracting with itself
on its own account or acting on behalf of a
third person; double representation is
permissible.
	 
	 	 
	4. Die Bevollmächtigte ist befugt, diese

	 	4. The representative is authorized to delegate

 

 

	 	 	 

	Vollmacht ganz oder zum Teil an Dritte zu
übertragen.

	 	in full or in part this power of
attorney to third persons.
	 
	 	 
	5. Im Zweifel gilt der deutsche Text.

	 	5. In case of doubt the German text prevails.
	 
	 	 
	6. Diese Vollmacht unterliegt
österreichischem Recht.

	 	6. This power of attorney is governed by
Austrian law.
	 
	 	 
	7. SIG Finanz AG ist eine nach dem Recht
der Schweiz errichtete und bestehende
Gesellschaft. Die für diese Gesellschaft
Unterfertigenden erklären hiermit an Eides
statt, dass sie diese Gesellschaft am Tage
der Unterfertigung dieser Vollmacht
vertreten dürfen.

	 	7. SIG Finanz AG is a company established
and existing under the laws of Switzerland.
The signatories on behalf of this company
hereby declare in lieu of oath that they are
allowed to represent this company on the day
of signing of this power of attorney.

_______________________________

Ort/Place, Datum/Date

	 	 	 
	 

l
	 	 
	für/for
	 	 
	SIG Finanz AG
	 	 

[Comment: Since this power of attorney is issued by a legal person (i.e. a company) the power of
attorney must be signed by authorized representatives of such legal person with sufficient power of
representation. The signatures of such representatives must be notarized. The notary public must
state in his notarization wording that he has checked on the day of signing the power of attorney
that the person signing is authorized to represent the issuer of the power of attorney on this day
(in the alternative a notarized abstract from the competent commercial register can be provided
which shows that the persons signing are authorized to represent on the day of signing). Depending
on where the power of attorney is signed and notarized, an apostille is required. If the power of
attorney is signed and notarized in Switzerland an apostille is required.]

 

 

Schedule B

	 	 	 
	SPEZIALVOLLMACHT	 	SPECIAL POWER OF ATTORNEY
	und	 	and
	 
	EIDESSTÄTIGE ERKLÄRUNG	 	AFFIDAVIT
	 
	 	 
	SIG Finanz AG, eine nach schweizerischen
Recht errichtete Gesellschaft, mit dem
Sitz in Neuhausen am Rheinfall, Schweiz,
und der Geschäftsanschrift zum Zeitpunkt
dieser Vollmacht Laufengasse 18, CH-88212
Neuhausen am Rheinfall, eingetragen im
Handelsregister des Kanton Schaffhausen
unter der Nummer CH 290.3.004.147-6,
bevollmächtigt hiermit

	 	SIG Finanz AG, a company organised under the
laws of Switzerland with its seat in
Neuhausen am Rheinfall, Switzerland and its
business address as at the date of this
power of attorney at Laufengasse 18,
CH-88212 Neuhausen am Rheinfall, registered
in the commercial register of the Kanton
Schaffhausen under file number CH
290.3.004.147-6, herewith authorizes
	 
	 	 
	Wilmington Trust (London) Limited, l,

	 	Wilmington Trust (London) Limited, l,
	 
	 	 
	1. sie als Gesellschafterin der SIG
Combibloc GmbH, eingetragen im
österreichischen Firmenbuch zu FN 237985
d, mit dem Sitz in Saalfelden am
Steinernen Meer und der Geschäftsanschrift
Industriestraße 3, 5760 Saalfelden,
Österreich, bei
Gesellschafterversammlungen dieser
Gesellschaft und bei Abstimmungen im
schriftlichen Wege zu vertreten und für
sie das Stimmrecht auszuüben, insbesondere
auch bei Beschlussfassungen über die
Zustimmung zur Übertragung und/oder
Belastung von Geschäftsanteilen, und auch
bei Beschlussfassungen über die Änderung
des Gesellschaftsvertrags.

	 	1. to represent it as shareholder of SIG
Combibloc GmbH, a company registered under
FN 237985 d with the Austrian companies
register, with its corporate seat in
Saalfelden am Steinernen Meer and the
business address Industriestraße 3, 5760
Saalfelden, Austria, at shareholders’
meetings of this company and when taking
written shareholder resolutions, and to
exercise the voting right on its behalf, in
particular also when resolving upon the
consent to the transfer and/or encumbrance
of the shares, and also including
resolutions upon changes and amendments to
the articles of association.
	 
	 	 
	2. alle sonstigen mit den in Punkt 1.
bezeichneten Tätigkeiten verbundenen
Handlungen vorzunehmen, Erklärungen
abzugeben und zu empfangen, Unterschriften
beglaubigt und unbeglaubigt zu leisten,
sowie Urkunden in Form eines
Notariatsaktes oder einer notariellen
Beurkundung oder einer ausländischen
Beurkundung (auch in Form eines
ausländischen Notariatsaktes) durch einen
ausländischen Notar zu errichten.

	 	2. to undertake all other actions in
connection with the activities mentioned in
point 1., to issue and receive statements,
to sign with and without notarisation and to
set up documents in the form of a notarial
deed or a notarial recording or another
foreign recording (also in form of a foreign
notarial deed) by a foreign notary public.
	 
	 	 
	3. Die Bevollmächtigte ist von dem Verbot
des Kontrahierens mit sich selbst auf
eigene Rechnung oder als Vertreter eines
Dritten befreit; auch ist die
Doppelvertretung zulässig.

	 	3. The representative is dispensed from the
prohibition of self-contracting with itself
on its own account or acting on behalf of a
third person; double representation is
permissible.
	 
	 	 
	4. Die Bevollmächtigte ist befugt, diese
Vollmacht ganz oder zum Teil an Dritte zu
übertragen.

	 	4. The representative is authorized to
delegate in full or in part this power of
attorney to third persons.

 

 

	 	 	 

	5. Im Zweifel gilt der deutsche Text.

	 	5. In case of doubt the German text prevails.
	 
	 	 
	6.  Diese Vollmacht unterliegt
österreichischem Recht.

	 	6. This power of attorney is governed by
Austrian law.
	 
	 	 
	7. SIG Finanz AG ist eine nach dem Recht
der Schweiz errichtete und bestehende
Gesellschaft. Die für diese Gesellschaft
Unterfertigenden erklären hiermit an Eides
statt, dass sie diese Gesellschaft am Tage
der Unterfertigung dieser Vollmacht
vertreten dürfen.

	 	7. SIG Finanz AG is a company established
and existing under the laws of Switzerland.
The signatories on behalf of this company
hereby declare in lieu of oath that they are
allowed to represent this company on the day
of signing of this power of attorney.

______________________________________

Ort/Place, Datum/Date

	 	 	 

	 

l
	 	 
	für/for
	 	 
	SIG Finanz AG
	 	 

[Comment: Since this power of attorney is issued by a legal person (i.e. a company) the power of
attorney must be signed by authorized representatives of such legal person with sufficient power of
representation. The signatures of such representatives must be notarized. The notary public must
state in his notarization wording that he has checked on the day of signing the power of attorney
that the person signing is authorized to represent the issuer of the power of attorney on this day
(in the alternative a notarized abstract from the competent commercial register can be provided
which shows that the persons signing are authorized to represent on the day of signing). Depending
on where the power of attorney is signed and notarized, an apostille is required. If the power of
attorney is signed and notarized in Switzerland an apostille is required.]

 

 

Schedule C

The taking of this document or any certified copy of it or any other document which constitutes
substitute documentation for it, or any document which includes written confirmations or references
to it, into Austria as well as printing out any e-mail communication which refers to 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.

SIG Combibloc GmbH

attn. l

c/o l [address outside of Austria.]

____________[outside of Austria], on _________2010

			
	Reference:	 	Notification of the pledge of our shares in SIG Combibloc GmbH

Dear Sir,

We herewith inform you that we, SIG Finanz AG, with its seat in Neuhausen am Rheinfall,
Switzerland, and its business address as at the date of this notification at Laufengasse 18,
CH-8212 Neuhausen, registered in the commercial register of the Canton of Schaffhausen under file
number CH 290.3.004.147-6, as sole shareholder of SIG Combibloc GmbH, a company registered under FN
237985 d with the Austrian companies register, with its corporate seat in Saalfelden am Steinernen
Meer and the business address as at the date of this notification at Industriestraße 3, 5760
Saalfelden, Austria, having paid in full an initial contribution of EUR 35,000.00 (Euro thirty five
thousand), have pledged our existing GmbH-share (Geschäftsanteil) in SIG Combibloc GmbH and any
GmbH-share in SIG Combibloc GmbH which we may acquire in the future together with all ancillary
rights and claims to Wilmington Trust (London) Limited, l, under the terms of the Share
Pledge Agreement dated __________ 2010. An execution version of such Share Pledge Agreement is
attached to this letter as Annex 1.

We herewith formally notify you of the pledge. Please confirm receipt of this letter by
countersigning this letter.

Sincerely yours,

________________________

SIG Finanz AG

			
	Annex 1:	 	Execution version of the Share Pledge Agreement

H H H

 

 

We, l, born on l, and, born on l, as managing directors of SIG Combibloc GmbH, a
company registered under FN 237985 d with the Austrian companies register, with its corporate seat
in Saalfelden am Steinernen Meer and the business address as at the date of this notification at
Industriestraße 3, 5760 Saalfelden, Austria, herewith confirm receipt of this letter. We further
confirm that in our capacity as managing directors of SIG Combibloc GmbH that we have taken notice
of the pledge according to the provisions of the Share Pledge Agreement.

l, on l 2010

______________________________________

l

as

managing director of

SIG Combibloc GmbH

______________________________________

l

as

managing director of

SIG Combibloc GmbH

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