Document:

exv4w295

EXHIBIT 4.295

THE TAKING OF THIS DOCUMENT OR ANY CERTIFIED COPY OF IT OR ANY DOCUMENT WHICH CONSTITUTES
SUBSTITUTE DOCUMENTATION FOR IT, OR ANY DOCUMENT WHICH INCLUDES WRITTEN CONFIRMATIONS OR REFERENCES
TO IT, INTO AUSTRIA AS WELL AS PRINTING OUT ANY E-MAIL COMMUNICATION WHICH REFERS TO ANY LOAN
DOCUMENT IN AUSTRIA OR SENDING ANY E-MAIL COMMUNICATION TO WHICH A PDF SCAN OF THIS DOCUMENT IS
ATTACHED TO AN AUSTRIAN ADDRESSEE OR SENDING ANY E-MAIL COMMUNICATION CARRYING AN ELECTRONIC OR
DIGITAL SIGNATURE WHICH REFERS TO ANY LOAN DOCUMENT TO AN AUSTRIAN ADDRESSEE MAY CAUSE THE
IMPOSITION OF AUSTRIAN STAMP DUTY. ACCORDINGLY, KEEP THE ORIGINAL DOCUMENT AS WELL AS ALL CERTIFIED
COPIES THEREOF AND WRITTEN AND SIGNED REFERENCES TO IT OUTSIDE OF AUSTRIA AND AVOID PRINTING OUT
ANY EMAIL COMMUNICATION WHICH REFERS TO ANY LOAN DOCUMENT IN AUSTRIA OR SENDING ANY E-MAIL
COMMUNICATION TO WHICH A PDF SCAN OF THIS DOCUMENT IS ATTACHED TO AN AUSTRIAN ADDRESSEE OR SENDING
ANY E-MAIL COMMUNICATION CARRYING AN ELECTRONIC OR DIGITAL SIGNATURE WHICH REFERS TO ANY LOAN
DOCUMENT TO AN AUSTRIAN ADDRESSEE.

This Acknowledgment Agreement (Convenio de Reconocimiento) is entered into on this 16 day of
November, 2010 (the “Agreement”), by and among Grupo CSI de México, S. de R.L. de C.V.,
Closure Systems International B.V., CSI Mexico LLC, CSI en Saltillo, S. de R.L. de C.V., Closure
Systems Mexico Holdings LLC, Evergreen Packaging International B.V., Reynolds Packaging
International B.V., and Reynolds Metals Company de México, S. de R.L. de C.V., as pledgors under
the Pledge Agreements (as defined below), and The Bank of New York Mellon, acting solely in its
capacity as Collateral Agent on behalf and for the benefit of the Secured Parties, as pledgee under
the Pledge Agreements, in accordance with the following Recitals, Representations and Warranties
and Clauses. Terms used in this Agreement and not otherwise defined herein shall have the meaning
set forth in the Pledge Agreements.

Recitals

     I. First Pledge Agreement. On January 29, 2010 Grupo CSI de México, S. de R.L. de
C.V., Closure Systems International B.V., CSI Mexico LLC, CSI en Saltillo, S. de R.L. de C.V. and
Closure Systems Mexico Holdings LLC, as pledgors, and the Pledgee entered into an equity interests
pledge agreement (as amended, extended, restructured, renewed, novated, supplemented, restated,
refunded, replaced or modified from time to time, the “First Pledge Agreement”). A copy of
the First Pledge Agreement together with an acknowledgement agreement dated May 4, 2010 relating to
the First Pledge Agreement is attached hereto as Exhibit “A”.

     II. Second Pledge Agreement. On May 4, 2010 Evergreen Packaging International
B.V., as pledgor, and The Bank of New York Mellon, as pledgee, entered into a partnership interest
pledge agreement (as amended, extended, restructured, renewed, novated, supplemented, restated,
refunded, replaced or modified from time to time, the “Second Pledge Agreement”). A copy of
the Second Pledge Agreement is attached hereto as Exhibit “B”.

     III. Third Pledge Agreement. On September 1, 2010 Closure Systems International
B.V., Reynolds Packaging International B.V. and Reynolds Metals

 

 

Company de México, S. de R.L. de C.V., as pledgors, and The Bank of New York Mellon, as
pledgee, entered into a partnership interests pledge agreement (as amended, extended, restructured,
renewed, novated, supplemented, restated, refunded, replaced or modified from time to time, the
“Third Pledge Agreement”, and together with the First Pledge Agreement and the Second
Pledge Agreement, the “Pledge Agreements”). A copy of the Third Pledge Agreement is
attached hereto as Exhibit “C”.

     IV. Incremental Assumption Agreement. On September 30, 2010, Reynolds Group
Holdings Inc., Reynolds Consumer Products Holdings Inc., Closure Systems International Holdings
Inc., SIG Euro Holding AG & Co. KGAA, SIG Austria Holding GmbH, Closure Systems International B.V.,
the Guarantors from time to time party thereto (as defined therein), the lenders from time to time
party thereto, the Incremental U.S. Term Lenders (as defined therein) and the Administrative Agent
entered into the Amendment No. 3 and Incremental Term Loan Assumption Agreement (the
“Incremental Assumption Agreement”) relating to the Credit Agreement.

     V. 2010 Secured Notes Indenture. On October 15, 2010, RGHL US Escrow I LLC, RGHL
US Escrow I Inc. and RGHL Escrow Issuer (Luxembourg) I S.A. (the “Escrow Issuers”) and The
Bank of New York Mellon, as trustee, principal paying agent, transfer agent, registrar and
collateral agent and Wilmington Trust (London) Limited as additional collateral agent, entered into
an indenture (the “2010 Secured Notes Indenture”) pursuant to which certain secured notes
(the “2010 Secured Notes”) were issued by the Escrow Issuers. On or about the date hereof
the 2010 Secured Notes shall be released from escrow and the obligations of the Escrow Issuers
shall be assumed by Reynolds Group Issuer LLC, Reynolds Group Issuer Inc. and Reynolds Group Issuer
(Luxembourg) S.A, as applicable.

     VI. Secured Notes Designation. The obligations in respect of the 2010 Secured
Notes Indenture and any Senior Secured Note Documents (as defined therein) will or have been
designated as “Additional Obligations” under, and in accordance with, section 5.02(c) of the First
Lien Intercreditor Agreement (the “Secured Notes Designation”).

Representations and Warranties

	I.	 	Each of the Pledgors hereby represents and warrants, with respect to itself,
through its legal representative, that on the date hereof:

	 	(a)	 	the individual executing this Agreement in the name and on behalf of such
Pledgor has sufficient power and authority, as well as the necessary authority
(corporate, organizational or otherwise) to validly execute and deliver this Agreement
on its behalf and to validly bind such Pledgor under the terms herein, and in the case
of CSI Saltillo and Grupo CSI as evidenced in public deed numbers

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	 	 	 	32,566 and 32,565 dated September 23, 2010, granted before Mr. Jose Luis
Villavicencio Castañeda, Notary Public number 218 for Mexico City, and that such
powers, authority and corporate or other authorizations have not been revoked,
modified or limited in any manner.

NOW, THEREFORE, based on the Recitals and Representations and Warranties contained herein, the
parties hereto agree as follows:

Clauses

First.- Acknowledgment. Each Pledgor (a) confirms and agrees that the Pledge Agreements, as
applicable, and the Security Interest created thereunder continue to be in full force and effect
subject to the Legal Reservations (as such term is defined in the Credit Agreement), and (b)
acknowledges and agrees that (i) the Incremental Assumption Agreement constitutes a Loan Document,
and (ii) the obligations of the Loan Parties under the Incremental Assumption Agreement and any
obligations that are “Additional Obligations” as a result of the Secured Notes Designation, in each
case, constitute Secured Obligations under the Pledge Agreements.

Second.- No Novation. The parties hereby expressly agree that this Agreement shall not
extinguish the obligations for the payment of money outstanding under any Loan Document or
discharge or release the priority of any Loan Document or any other security therefor. Nothing
herein shall be construed as a substitution or novation of the Secured Obligations, which shall
remain in full force and effect. Nothing in or implied by this Agreement or in any other document
contemplated hereby shall be construed as a release or other discharge of any Secured Obligation.
Each Pledge Agreement shall remain in full force and effect notwithstanding the execution and
delivery of this Agreement.

     The parties agree that this Agreement shall be deemed a “Security Document” for the purposes
of and as defined in the First Lien Intercreditor Agreement (and for no other purpose) and that,
accordingly, all rights, duties, privileges, protections and benefits of the Collateral Agent set
forth in the First Lien Intercreditor Agreement are hereby incorporated by reference.

Third.- Entire Agreement. The parties hereby expressly agree that this Agreement is and
shall be deemed a part of each Pledge Agreement and, for such reason, all references made in or
with respect to each Pledge Agreement, shall include this Agreement.

Fourth.- Jurisdiction, Governing Law. For all matters relating to the interpretation and
fulfillment of this Agreement, the parties hereto expressly and irrevocably submit to the
applicable laws of Mexico, and to the jurisdiction of the competent courts sitting in Mexico,
Federal District, Mexico, and the parties hereby expressly

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and irrevocably waive their rights to any other jurisdiction to which they may be entitled to by
reason of their present or any future domiciles, or for any other reason.

Fifth.- Language. This Agreement is entered into in both the Spanish and English languages;
provided that, in the case of any judicial procedure before a Mexican court, the Spanish version
shall govern for all purposes.

[Signature page continues]

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed on the date
first above written.

	 	 	 	 	 
	 	The Pledgors:

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

 	 
	 	/s/Cindi Lefari
 	 
	 	Name:  	Cindi Lefari 	 
	 	Title:  	Attorney 	 
	 
	 	Closure Systems International B.V.

 	 
	 	/s/Cindi Lefari
 	 
	 	Name:  	Cindi Lefari 	 
	 	Title:  	Attorney 	 
	 
	 	CSI Mexico LLC

 	 
	 	/s/Cindi Lefari
 	 
	 	Name:  	Cindi Lefari 	 
	 	Title:  	Assistant Secretary 	 
	 
	 	CSI en Saltillo, S. de R.L. de C.V.

 	 
	 	/s/Cindi Lefari
 	 
	 	Name:  	Cindi Lefari 	 
	 	Title:  	Attorney 	 
	 
	 	Closure Systems Mexico Holdings LLC

 	 
	 	/s/Cindi Lefari
 	 
	 	Name:  	Cindi Lefari 	 
	 	Title:  	Assistant Secretary 	 
	 
	 	Evergreen Packaging International B.V.

 	 
	 	/s/Cindi Lefari
 	 
	 	Name:  	Cindi Lefari 	 
	 	Title:  	Attorney 	 
	 
	 	Reynolds Packaging International B.V.

 	 
	 	/s/Cindi Lefari
 	 
	 	Name:  	Cindi Lefari 	 
	 	Title:  	Attorney 	 

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

 
	 	/s/Cindi Lefari
 	 
	 	Name:  	Cindi Lefari 	 
	 	Title:  	Attorney 	 
	 

The Pledgee:

The Bank of New York Mellon, acting solely in its capacity as Collateral Agent on behalf and for
the benefit of the Secured Parties.

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

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Exhibit “A”

Acknowledgement Agreement

Copy of First Pledge Agreement and

Acknowledgement Agreement

[Attached hereto]

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Exhibit “B”

Acknowledgement Agreement

Copy of Second Pledge Agreement

[Attached hereto]

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Exhibit “C”

Acknowledgement Agreement

Copy of Third Pledge Agreement

[Attached hereto]

-9-exv4w296

Exhibit 4.296

THE TAKING OF THIS DOCUMENT OR ANY CERTIFIED COPY OF IT OR ANY DOCUMENT WHICH CONSTITUTES
SUBSTITUTE DOCUMENTATION FOR IT, OR ANY DOCUMENT WHICH INCLUDES WRITTEN CONFIRMATIONS OR REFERENCES
TO IT, INTO AUSTRIA AS WELL AS PRINTING OUT ANY E-MAIL COMMUNICATION WHICH REFERS TO ANY LOAN
DOCUMENT IN AUSTRIA OR SENDING ANY E-MAIL COMMUNICATION TO WHICH A PDF SCAN OF THIS DOCUMENT IS
ATTACHED TO AN AUSTRIAN ADDRESSEE OR SENDING ANY E-MAIL COMMUNICATION CARRYING AN ELECTRONIC OR
DIGITAL SIGNATURE WHICH REFERS TO ANY LOAN DOCUMENT TO AN AUSTRIAN ADDRESSEE MAY CAUSE THE
IMPOSITION OF AUSTRIAN STAMP DUTY. ACCORDINGLY, KEEP THE ORIGINAL DOCUMENT AS WELL AS ALL CERTIFIED
COPIES THEREOF AND WRITTEN AND SIGNED REFERENCES TO IT OUTSIDE OF AUSTRIA AND AVOID PRINTING OUT
ANY EMAIL COMMUNICATION WHICH REFERS TO ANY LOAN DOCUMENT IN AUSTRIA OR SENDING ANY E-MAIL
COMMUNICATION TO WHICH A PDF SCAN OF THIS DOCUMENT IS ATTACHED TO AN AUSTRIAN ADDRESSEE OR SENDING
ANY E-MAIL COMMUNICATION CARRYING AN ELECTRONIC OR DIGITAL SIGNATURE WHICH REFERS TO ANY LOAN
DOCUMENT TO AN AUSTRIAN ADDRESSEE.

This Acknowledgment Agreement (Convenio de Reconocimiento) is entered into on this 16 day of
November, 2010 (the “Agreement”), by and among Grupo CSI de México, S. de R.L. de C.V., CSI
en Saltillo, S. de R.L. de C.V., CSI en Ensenada, S. de R.L. de C.V., CSI Tecniservicio, S. de R.L.
de C.V., Bienes Industriales del Norte, S.A. de C.V., Técnicos de Tapas Innovativas, S.A. de C.V.,
Evergreen Packaging México, S. de R.L. de C.V., Maxpack, S. de R.L. de C.V. and Reynolds Metals
Company de México, S. de R.L. de C.V., as pledgors under the Pledge Agreements (as defined below),
and The Bank of New York Mellon, acting solely in its capacity as Collateral Agent on behalf and
for the benefit of the Secured Parties, as pledgee under the Pledge Agreements, in accordance with
the following Recitals, Representations and Warranties and Clauses. Terms used in this Agreement
and not otherwise defined herein shall have the meaning set forth in the Pledge Agreements.

Recitals

     I. First Pledge Agreement. On January 29, 2010 Grupo CSI de México, S. de R.L. de
C.V., CSI en Saltillo, S. de R.L. de C.V., CSI en Ensenada, S. de R.L. de C.V., CSI Tecniservicio,
S. de R.L. de C.V., Bienes Industriales del Norte, S.A. de C.V., and Técnicos de Tapas Innovativas,
S.A. de C.V., as pledgors, and the Pledgee entered into a floating lien pledge agreement (as
amended, extended, restructured, renewed, novated, supplemented, restated, refunded, replaced or
modified from time to time, the “First Pledge Agreement”). A copy of the First Pledge
Agreement together with an acknowledgement agreement dated May 4, 2010 relating to the First Pledge
Agreement is attached hereto as Exhibit “A”.

     II. Second Pledge Agreement. On May 4, 2010 Evergreen Packaging México, S. de R.L. de
C.V., as pledgor, and The Bank of New York Mellon, as pledgee, entered into a floating lien pledge
agreement (as amended, extended, restructured, renewed, novated, supplemented, restated, refunded,
replaced or modified from time to time, the “Second Pledge Agreement”). A copy of the
Second Pledge Agreement is attached hereto as Exhibit “B”.

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     III. Third Pledge Agreement. On September 1, 2010 Maxpack, S. de R.L. de C.V. and
Reynolds Metals Company de México, S. de R.L. de C.V., as pledgors, and The Bank of New York
Mellon, as pledgee, entered into a floating lien pledge agreement (as amended, extended,
restructured, renewed, novated, supplemented, restated, refunded, replaced or modified from time to
time, the “Third Pledge Agreement”, and together with the First Pledge Agreement and the
Second Pledge Agreement, the “Pledge Agreements”). A copy of the Third Pledge Agreement is
attached hereto as Exhibit “C”.

     IV. Incremental Assumption Agreement. On September 30, 2010, Reynolds Group Holdings
Inc., Reynolds Consumer Products Holdings Inc., Closure Systems International Holdings Inc., SIG
Euro Holding AG & Co. KGAA, SIG Austria Holding GmbH, Closure Systems International B.V., the
Guarantors from time to time party thereto (as defined therein), the lenders from time to time
party thereto, the Incremental U.S. Term Lenders (as defined therein) and the Administrative Agent
entered into the Amendment No. 3 and Incremental Term Loan Assumption Agreement (the
“Incremental Assumption Agreement”) relating to the Credit Agreement.

     V. 2010 Secured Notes Indenture. On October 15, 2010, RGHL US Escrow I LLC, RGHL US
Escrow I Inc. and RGHL Escrow Issuer (Luxembourg) I S.A. (the “Escrow Issuers”) and The
Bank of New York Mellon, as trustee, principal paying agent, transfer agent, registrar and
collateral agent and Wilmington Trust (London) Limited as additional collateral agent, entered into
an indenture (the “2010 Secured Notes Indenture”) pursuant to which certain secured notes
(the “2010 Secured Notes”) were issued by the Escrow Issuers. On or about the date hereof
the 2010 Secured Notes shall be released from escrow and the obligations of the Escrow Issuers
shall be assumed by Reynolds Group Issuer LLC, Reynolds Group Issuer Inc. and Reynolds Group Issuer
(Luxembourg) S.A, as applicable.

     VI. Secured Notes Designation. The obligations in respect of the 2010 Secured Notes
Indenture and any Senior Secured Note Documents (as defined therein) will or have been designated
as “Additional Obligations” under, and in accordance with, section 5.02(c) of the First Lien
Intercreditor Agreement (the “Secured Notes Designation”).

Representations and Warranties

	I.	 	Each of the Pledgors hereby represents and warrants, with respect to itself, through
its legal representative, that on the date hereof:

	 	(a)	 	the individual executing this Agreement in the name and on behalf of each of
the Pledgors has sufficient power and authority, as well as the necessary authority
(corporate, organizational or otherwise) to validly execute and deliver this Agreement
on their behalf and to validly bind each of the Pledgors under the terms herein, as

-2-

 

	 	 	 	evidenced in public deed numbers 32,565 through 32,570 and 32,572 through 32,574,
dated September 23, 2010, granted before Mr. Jose Luis Villavicencio Castañeda,
Notary Public number 218 for Mexico City, and that such powers, authority and
corporate or other authorizations have not been revoked, modified or limited in any
manner.

NOW, THEREFORE, based on the Recitals and Representations and Warranties contained herein, the
parties hereto agree as follows:

Clauses

First.- Acknowledgment. Each Pledgor (a) confirms and agrees that the Pledge Agreements, as
applicable, and the Security Interest created thereunder continue to be in full force and effect
subject to the Legal Reservations (as such term is defined in the Credit Agreement), and (b)
acknowledges and agrees that (i) the Incremental Assumption Agreement constitutes a Loan Document,
and (ii) the obligations of the Loan Parties under the Incremental Assumption Agreement and any
obligations that are “Additional Obligations” as a result of the Secured Notes Designation, in each
case, constitute Secured Obligations under the Pledge Agreements.

Second.- No Novation. The parties hereby expressly agree that this Agreement shall not
extinguish the obligations for the payment of money outstanding under any Loan Document or
discharge or release the priority of any Loan Document or any other security therefor. Nothing
herein shall be construed as a substitution or novation of the Secured Obligations, which shall
remain in full force and effect. Nothing in or implied by this Agreement or in any other document
contemplated hereby shall be construed as a release or other discharge of any Secured Obligation.
Each Pledge Agreement shall remain in full force and effect notwithstanding the execution and
delivery of this Agreement.

     The parties agree that this Agreement shall be deemed a “Security Document” for the purposes
of and as defined in the First Lien Intercreditor Agreement (and for no other purpose) and that,
accordingly, all rights, duties, privileges, protections and benefits of the Collateral Agent set
forth in the First Lien Intercreditor Agreement are hereby incorporated by reference.

Third.- Entire Agreement. The parties hereby expressly agree that this Agreement is and
shall be deemed a part of each Pledge Agreement and, for such reason, all references made in or
with respect to each Pledge Agreement, shall include this Agreement.

Fourth.- Jurisdiction, Governing Law. For all matters relating to the interpretation and
fulfillment of this Agreement, the parties hereto expressly and irrevocably submit to the
applicable laws of Mexico, and to the jurisdiction of the competent

-3-

 

courts sitting in Mexico, Federal District, Mexico, and the parties hereby expressly and
irrevocably waive their rights to any other jurisdiction to which they may be entitled to by reason
of their present or any future domiciles, or for any other reason.

Fifth.- Language. This Agreement is entered into in both the Spanish and English languages;
provided that, in the case of any judicial procedure before a Mexican court, the Spanish version
shall govern for all purposes.

[Signature page continues]

-4-

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed on the date
first above written.

The Pledgors:

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

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

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

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

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

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

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

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

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

	 	 	 	 	 
	 	 
	/s/ Silvia Ema Roldan Gregory
 	 
	Name:  	Silvia Ema Roldan Gregory 	 
	Title:  	Attorney-in-fact 	 

The Pledgee:

The Bank of New York Mellon, acting solely in its capacity as Collateral Agent on behalf and for
the benefit of the Secured Parties.

	 	 	 	 	 
	 	 
	/s/ Jimena Janeiro Fong
 	 
	Name:  	Jimena Janeiro Fong 	 
	Title:  	Attorney-in-fact 	 

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Exhibit “A”

Acknowledgement Agreement

Copy of First Pledge Agreement and

Acknowledgement Agreement

[Attached hereto]

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Exhibit “B”

Acknowledgement Agreement

Copy of Second Pledge Agreement

[Attached hereto]

-7-

 

Exhibit “C”

Acknowledgement Agreement

Copy of Third Pledge Agreement

[Attached hereto]

-8-

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