Document:

exv4w145

EXHIBIT 4.145

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 Floating Lien Pledge Agreement (Contrato de Prenda sin Transmisión de Posesión) is
entered into on this 29th day of January, 2010 (the “Agreement”), by and among
Grupo CSI de Mexico, S. de R.L. de C.V. (“Grupo CSI”), CSI en Saltillo, S. de R.L. de C.V.
(“CSI Saltillo”), CSI en Ensenada, S. de R.L. de C.V. (“CSI Ensenada”), CSI
Tecniservicio, S. de R.L. de C.V. (“CSI Tecniservicio”), Bienes Industriales del Norte,
S.A. de C.V. (“Bienes Industriales”) and Técnicos de Tapas Innovativas, S.A. de C.V.
(“Tapas Innovativas”, and collectively with Grupo CSI, CSI Saltillo, CSI Ensenada, CSI
Tecniservicio and Bienes Industriales, the “Pledgors”), as pledgors, and The Bank of New
York Mellon, acting solely in its capacity as Collateral Agent (as defined below) on behalf and for
the benefit of the Secured Parties (as defined below) (in such capacity, together with its
successors and assigns in such capacity, the “Pledgee”), as pledgee, in accordance with the
following Recitals, Representations and Warranties and Clauses. Terms used in the Recitals and
Representations and Warranties and not otherwise defined herein shall have the meaning set forth in
Clause First hereto.

Recitals

     I. Credit Agreement. On November 5, 2009, Reynolds Group Holdings Inc., Reynolds
Consumer Products Holdings Inc., Closure Systems International Holdings Inc., SIG Euro Holding AG
& Co KGaA, SIG Austria Holding Gmbh and Closure Systems International B.V., 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 (in such capacity, together with its
successors and assigns in such capacity, the “Administrative Agent”), entered into a
credit agreement (as amended on January 21, 2010 and as further amended, extended, restructured,
renewed, novated, supplemented, restated, refunded, replaced or modified from time to time, the
“Credit Agreement”).

     II. Senior Secured Note Indenture. On November 5, 2009, Reynolds Group

 

Escrow LLC,
Reynolds Group DL Escrow Inc. and The Bank of New York Mellon, acting in its capacity as trustee,
principal paying agent, transfer agent and collateral agent, entered into the Senior Secured Note
Indenture (as amended, extended, restructured, renewed, refunded, novated, supplemented, restated,
replaced or modified from time to time, the “Senior Secured Note Indenture”).

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)	 	(i) Grupo CSI is a sociedad de responsabilidad limitada de capital variable
duly organized and validly existing under the laws of Mexico, as evidenced in public
deed number 1261, dated April 1, 2008, granted before Mr. Gerardo F. Saavedra Silva,
Commercial Notary Public number 50 of the Federal District, which was recorded in the
Public Registry of Commerce of Saltillo, Coahuila, under commercial folio number
13612*2; (ii) CSI Saltillo is a sociedad de responsabilidad limitada de capital
variable duly organized and validly existing under the laws of Mexico, as evidenced in
public deed number 1259, dated April 1, 2008, granted before Mr. Gerardo F. Saavedra
Silva, Commercial Notary Public number 50 of the Federal District, which was recorded
in the Public Registry of Commerce of Saltillo, Coahuila, under commercial folio
number 9051*2; (iii) CSI Ensenada is a sociedad de responsabilidad limitada de capital
variable duly organized and validly existing under the laws of Mexico, as evidenced in
public deed number 1258, dated April 1, 2008, granted before Mr. Gerardo F. Saavedra
Silva, Commercial Notary Public number 50 of the Federal District, which was recorded
in the Public Registry of Commerce of Ensenada, Baja California, under commercial
folio number 7158*3; (iv) CSI Tecniservicio is a sociedad de responsabilidad limitada
de capital variable duly organized and validly existing under the laws of Mexico, as
evidenced in public deed number 1260, dated April 1, 2008, granted before Notary
Public number 50 of the Federal District, which was recorded in the Public Registry of
Commerce of Saltillo, Coahuila, under commercial folio number 26269*2; (v) Bienes
Industriales is a sociedad anónima de capital variable duly organized and validly
existing under the laws of Mexico, as evidenced in public deed number 1,314, dated
November 4, 2008, granted before Mr. Gerardo Francisco Saavedra Silva, Commercial
Notary Public number 50 of the Federal District, which was registered at the Public
Registry of Commerce of the Federal District under commercial folio 383182; and (vi)
Tapas Innovativas is a sociedad anónima
de capital variable duly organized and validly existing under the laws of

-2-

 

	 	 	 	Mexico,
as evidenced in public deed number 28,266, dated November 26, 1997, granted before
Mr. Carlos Alejandro Durán Loera, Notary Public number 11 of the Federal District,
which was recorded in the Public Registry of Commerce of Guadalajara, Jalisco,
under the registration number 175-176, volume 661, Book First, and currently
registered at such Registry under commercial folio 35140;
	 
	 	(b)	 	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
evidenced in public deed numbers 30534, 30535, 30536, 30537, 30538 and 30539, dated
October 30, 2009, 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; and
	 
	 	(c)	 	with reference to the facts and circumstances then existing and subject to
the provisions of the Loan Documents and the Intercreditor Arrangements, the
representations and warranties made by such Pledgor as Loan Party in Section 3.01
(Organization; Powers), 3.02 (Authorization), 3.03 (Enforceability), 3.06 (No Material
Adverse Change), 3.07 (Title to Properties; Possession under Leases), 3.09
(Litigation, Compliance with Laws), 3.10 (Agreements), 3.19 (Security Documents) and
3.22 (Solvency) of the Credit Agreement, are true and accurate as regards to such
Pledgor and this Agreement.

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

Clauses

First.- Certain Defined Terms.

(a) Unless defined in this Agreement or the context otherwise requires, a term
defined in the First Lien Intercreditor Agreement has the same meaning in this Agreement
and in any notice given under this Agreement. As used in this Agreement, the following
terms shall have the following meanings:

“Accounts Receivable” means and includes, with respect to each Pledgor, all
accounts receivable, trade accounts or instruments of such Pledgor, including,
without limitation, all rights of such Pledgor to payment for goods sold or

-3-

 

leased,
or to be
sold or to be leased, or for services rendered or to be rendered, however evidenced or
incurred, and together with all returned or repossessed goods and all books, records,
computer tapes, programs and ledger books arising therefrom or relating thereto, all whether
now owned or hereafter acquired or arising.

“Additional Agreement” shall have the meaning assigned to the term “Additional
Agreement” under, and as defined in, the First Lien Intercreditor Agreement.

“Administrative Agent” has the meaning specified in Recital I hereof.

“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 Floating Lien Pledge Agreement, as the same may be amended,
extended, restructured, renewed, novated, supplemented, restated, refunded, replaced or
modified from time to time.

“Applicable Representative” shall have the meaning assigned to the term
“Applicable Representative” under, and as defined in, the First Lien Intercreditor
Agreement.

“Bienes Industriales” has the meaning assigned to such term in the preamble to this
Agreement.

“Bienes Industriales Pledged Assets” means all of the following generically
described personal property of Bienes Industriales, pledged by Bienes Industriales in favor
of the Pledgee for the benefit of the Secured Parties as provided herein, wherever located,
whether now existing or hereafter acquired or arising from, (a) all Accounts Receivable, (b)
all Inventory, (c) all Equipment, (d) all Intangibles, (e) all Instruments, (f) all
Intellectual Property, (g) all cash, money, cash equivalents and goods, including without
limitation, the bank accounts of Bienes Industriales, and (h) all products and/or proceeds
of any and all of the foregoing, including, without limitation, indemnification in the event
of expropriation, revocation of such assets either by third parties or acts of government
and insurance proceeds which, pursuant to Article 354 of the Law, comprise all of the
personal property used by Bienes Industriales to carry out its main activity.

-4-

 

“Business Day” shall mean a day (other than a Saturday or Sunday) on which
banks are open for business in New York City, New York, United States of America and Mexico.

“Collateral Agent” shall mean the Pledgee, in its capacity as collateral agent as
appointed under the First Lien Intercreditor Agreement, and its successors and permitted
assigns in such capacity.

“Commercial Code” shall mean the Mexican Commercial Code (Código de Comercio).

“Credit Agreement” shall have the meaning assigned to such term in Recital I hereof.

“CSI Ensenada” has the meaning assigned to such term in the preamble to this
Agreement.

“CSI Ensenada Pledged Assets” shall mean all of the following generically described
personal property of CSI Ensenada, pledged by CSI Ensenada in favor of the Pledgee for the
benefit of the Secured Parties as provided herein, wherever located, whether now existing or
hereafter acquired or arising from, (a) all Accounts Receivable, (b) all Inventory, (c) all
Equipment, (d) all Intangibles, (e) all Instruments, (f) all Intellectual Property, (g) all
cash, money, cash equivalents and goods, including without limitation, the bank accounts of
CSI Ensenada, and (h) all products and/or proceeds of any and all of the foregoing,
including, without limitation, indemnification in the event of expropriation, revocation of
such assets either by third parties or acts of government and insurance proceeds which,
pursuant to Article 354 of the Law, comprise all of the personal property used by CSI
Ensenada to carry out its main activity.

“CSI Saltillo” has the meaning assigned to such term in the preamble to this
Agreement.

“CSI Saltillo Pledged Assets” shall mean all of the following generically described
personal property of CSI Saltillo, pledged by CSI Saltillo in favor of the Pledgee for the
benefit of the Secured Parties as provided herein, wherever located, whether now existing or
hereafter acquired or arising from, (a) all Accounts Receivable, (b) all Inventory, (c) all
Equipment, (d) all Intangibles, (e) all Instruments, (f) all Intellectual Property, (g) all
cash, money, cash equivalents and goods, including without limitation, the bank accounts of
CSI Saltillo, and (h) all products and/or proceeds of any and all of the foregoing,
including, without limitation, indemnification in the event of expropriation,

-5-

 

revocation of such assets either by third parties or acts of government and insurance
proceeds which, pursuant to Article 354 of the Law, comprise all of the personal property
used by CSI Saltillo to carry out its main activity.

“CSI Tecniservicio” has the meaning assigned to such term in the preamble to this
Agreement.

“CSI Tecniservicio Pledged Assets” shall mean all of the following generically
described personal property of CSI Tecniservicio, pledged by CSI Tecniservicio in favor of
the Pledgee for the benefit of the Secured Parties as provided herein, wherever located,
whether now existing or hereafter acquired or arising from, (a) all Accounts Receivable, (b)
all Inventory, (c) all Equipment, (d) all Intangibles, (e) all Instruments, (f) all
Intellectual Property, (g) all cash, money, cash equivalents and goods, including without
limitation, the bank accounts of CSI Tecniservicio, and (h) all products and/or proceeds of
any and all of the foregoing, including, without limitation, indemnification in the event of
expropriation, revocation of such assets either by third parties or acts of government and
insurance proceeds which, pursuant to Article 354 of the Law, comprise all of the personal
property used by CSI Tecniservicio to carry out its main activity.

“Equipment” shall mean, with respect to each Pledgor, all equipment and
fixtures of such Pledgor, whether now owned or hereafter acquired, wherever located,
including, without limitation, all machinery, furniture, furnishings, spare parts, repair
parts, leasehold improvements, computer equipment, books and records, motor vehicles,
forklifts, rolling stock, dies and tools used or useful in such Pledgor’s business
operations.

“Equity Interests Pledge Agreement” shall mean the Equity Interests Pledge
Agreement (Contrato de Prenda sobre Acciones y Partes Sociales) dated January
29th, 2010 by and among CSI Mexico LLC, Grupo CSI, CSI Saltillo, Closure Systems
Mexico Holdings LLC and Closure Systems International B.V., as pledgors, 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, with the acknowledgment of Bienes Industriales, Tapas
Innovativas, CSI Ensenada and CSI Tecniservicio.

“Event of Default” shall have the meaning assigned to the term “Event of Default”
under, and as defined in, the First Lien Intercreditor Agreement.

“Excluded Assets” means any and all assets pledged by any of the Pledgors in favor
of the Pledgee pursuant to the Equity Interests Pledge Agreement.

-6-

 

“First Lien Intercreditor Agreement” shall mean the First Lien Intercreditor
Agreement dated as of November 5, 2009, among the Collateral Agent, The Bank of New York
Mellon, 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 on January 21, 2010 and as further amended, novated, supplemented, restated or
modified from time to time. A copy of the First Lien Intercreditor Agreement and of its
amendment is attached hereto as Exhibit “A”.

“Governmental Authority” shall mean any national or federal government, any state,
regional, local or other political subdivision thereof with jurisdiction and any individual
or entity with jurisdiction exercising executive, legislative, judicial, regulatory or
administrative functions of or pertaining to government or quasi-governmental issues
(including any court).

“Grupo CSI” has the meaning assigned to such term in the preamble to this Agreement.

“Grupo CSI Pledged Assets” shall mean all of the following generically described
personal property of Grupo CSI, pledged by Grupo CSI in favor of the Pledgee for the benefit
of the Secured Parties as provided herein, wherever located, whether now existing or
hereafter acquired or arising from, (a) all Accounts Receivable, (b) all Inventory, (c) all
Equipment, (d) all Intangibles, (e) all Instruments, (f) all Intellectual Property, (g) all
cash, money, cash equivalents and goods, including without limitation, the bank accounts of
Grupo CSI, and (h) all products and/or proceeds of any and all of the foregoing, including,
without limitation, indemnification in the event of expropriation, revocation of such assets
either by third parties or acts of government and insurance proceeds which, pursuant to
Article 354 of the Law, comprise all of the personal property used by Grupo CSI to carry out
its main activity.

“Instruments” shall mean, with respect to each Pledgor, all certificated and
uncertificated instruments, negotiable instruments, securities, all security entitlements,
all securities accounts, commodity contracts and commodity accounts, including without
limitation, instruments and letters of credit evidencing, representing, arising from or
existing in respect of, relating to, securing or otherwise supporting the payment of, any of
the Accounts Receivable, whether now or hereafter owned or acquired by such Pledgor or in
which such Pledgor now or hereafter has or acquires any rights.

“Intangibles” shall mean, with respect to each Pledgor, all intangibles of such
Pledgor, whether now existing or hereafter acquired or arising, including,

-7-

 

without limitation, all royalties, tax refunds, rights to tax refunds, and any and all other
rights held by such Pledgor and all goodwill of such Pledgor associated therewith.

“Intellectual Property” shall mean, with respect to each Pledgor, all intellectual
and similar property of such Pledgor of every kind and nature hereafter acquired by such
Pledgor, any inventions, designs, drawings, plans, diagrams, schematics and assembly and
display materials relating thereto, patents and proprietary rights, patent licenses,
trademarks, service marks, trademark licenses, trade names, copyrights, copyrights licenses,
royalties, domain names and domain name registrations, trade secrets, confidential or
proprietary technical and business information, know how or other data or information,
programs, software and databases and all embodiments or fixations thereof and related
documentation, registration and franchises, licenses for any of the foregoing and all
license rights, and all additions, improvements and accessions to, and books and records
describing or used in connection with, any of the foregoing.

“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.

“Inventory” shall mean, with respect to each Pledgor, all inventory of such Pledgor,
whether now owned or hereafter acquired, wherever located, including, without limitation,
all goods of such Pledgor held for sale or lease or furnished or to be furnished under
contracts of service, all goods held for display or demonstration, goods on lease or
consignment, returned and repossessed goods, all raw materials, work-in-progress, finished
goods and supplies used or consumed in such Pledgor’s businesses together with all
documents, documents of title, dock warrants, dock receipts, warehouse receipts, bills of
lading or orders for the delivery of all, or any portion, of the foregoing.

“Law” shall mean the General Law of Negotiable Instruments and Credit Transactions.

“Lien” shall have the meaning assigned to the term “Lien” under, and as defined in,
the First Lien Intercreditor Agreement.

“Loan Documents” shall have the meaning assigned to the term “Credit Documents”
under, and as defined in, the First Lien Intercreditor Agreement

-8-

 

and any other document designated by the Loan Parties’ Agent and the Collateral Agent as a
Loan Document.

“Loan Parties” shall have the meaning assigned to the term “Grantors” under,
and as defined in, the First Lien Intercreditor Agreement.

“Loan Parties’ Agent” shall mean Reynolds Group Holdings Limited (formerly
known as Rank Group Holdings Limited).

“Mexico” shall mean the United Mexican States.

“Person” shall mean any individual or entity, trust, joint venture,
partnership, corporation, Governmental Authority or any other entity of any nature
whatsoever.

“Pesos” shall mean the legal currency of Mexico.

“Pledged Assets” shall mean, collectively, the Grupo CSI Pledged Assets, the CSI
Saltillo Pledged Assets, the CSI Ensenada Pledged Assets, the CSI Tecniservicio Pledged
Assets, the Bienes Industriales Pledged Assets, and the Tapas Innovativas Pledged Assets;
provided, however, that the Pledged Assets do not comprise the Excluded
Assets.

“Pledgee” has the meaning assigned to such term in the preamble to this Agreement.

“Pledgors” has the meaning assigned to such term in the preamble to this
Agreement.

“Principal Finance Documents” means the Credit Agreement, the Senior Secured Note
Indenture, the Intercreditor Arrangements and any Additional Agreement.

“Registries” has the meaning assigned to such term in Clause Second of this
Agreement.

“Secured Obligations” shall mean all present and future obligations and liabilities
(whether actual or contingent and whether owed jointly or severally or in any other capacity
whatsoever) of each 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, together with all costs,
charges and expenses incurred by any Secured Party in connection with the protection,
preservation or enforcement of

-9-

 

its respective rights under the Loan Documents or any other document evidencing or securing
any such liabilities.

“Secured Parties” shall have the meaning assigned to the term “Secured Parties”
under, and as defined in, the First Lien Intercreditor Agreement.

“Security Interest” has the meaning assigned to such term in Clause Second of this
Agreement.

“Senior Secured Note Indenture” has the meaning assigned to such term in
Recital II hereof.

“Tapas Innovativas” has the meaning assigned to such term in the preamble to this
Agreement.

“Tapas Innovativas Pledged Assets” shall mean all of the following generically
described personal property of Tapas Innovativas, pledged by Tapas Innovativas in favor of
the Pledgee for the benefit of the Secured Parties as provided herein, wherever located,
whether now existing or hereafter acquired or arising from, (a) all Accounts Receivable,
(b) all Inventory, (c) all Equipment, (d) all Intangibles, (e) all Instruments, (f) all
Intellectual Property, (g) all cash, money, cash equivalents and goods, including without
limitation, the bank accounts of Tapas Innovativas, and (h) all products and/or proceeds of
any and all of the foregoing, including, without limitation, indemnification in the event
of expropriation, revocation of such assets either by third parties or acts of government
and insurance proceeds which, pursuant to Article 354 of the Law, comprise all of the
personal property used by Tapas Innovativas to carry out its main activity.

“Termination Notice” has the meaning assigned to such term in Clause Tenth of this
Agreement.

“Transfer” shall mean, with respect to each Pledgor, any sale, lease or other type
of transfer made by such Pledgor.

(b) Usage. The definitions in this Clause First shall apply equally to
both the singular and plural forms of the terms defined. Whenever the context may require,
any pronoun shall include the corresponding masculine, feminine and neutral forms. The
words “hereof”, “herein” and “hereunder” and words of similar import, when used in this
Agreement, shall refer to this Agreement as a whole and not to any particular provision of
this Agreement, unless otherwise expressly indicated, and all references in this Agreement
to Clauses, sections, paragraphs and Exhibits shall be deemed to be references to Clauses,
sections,

-10-

 

paragraphs and Exhibits of this Agreement, unless the context shall otherwise require. As
used herein and any certificate or other document made or delivered pursuant hereto, (i)
the words “include”, “includes” and “including” shall be deemed to be followed by the
phrase “without limitation”, (ii) the word “incur” shall be construed to mean incur,
create, issue, assume, become liable in respect of or suffer to exist (and the words
“incurred” and “incurrence” shall have correlative meanings), (iii) the words “asset” and
“property” shall be construed to have the same meaning and effect and to refer to any and
all tangible and intangible assets and properties, including cash, capital stock,
securities, revenues, accounts, leasehold interests and contract rights, (iv) references to
agreements shall, unless otherwise specified, be deemed to refer to such agreements as
amended, extended, restructured, renewed, novated, supplemented, restated, refunded,
replaced or modified from time to time, and (v) references to any statute, law or
regulation shall be deemed to include any amendments thereto from time to time or any
successor statute, law or regulation thereof.

Second.- Pledge; Grant of Security Interest.

     (a) In accordance with Title II, Chapter IV, Section VII (Título II, Capítulo IV, Sección VII)
of the Law, the Pledgors hereby grant, subject to any Liens permitted by the Loan Documents, a
first priority floating lien pledge (prenda sin transmisión de posesión) and security interest (the
“Security Interest”) to the Pledgee for the benefit of the Secured Parties, in and to the
Pledged Assets now or hereafter owned or acquired by the Pledgors or in which the Pledgors now or
hereafter have or acquire any right or interest, wherever located and with everything that
corresponds thereto by law or in fact, as collateral security for the due and timely payment,
performance and satisfaction when due (whether at stated maturity, by acceleration or otherwise) of
the Secured Obligations.

     (b) For purposes of Article 366 of the Law, the Pledgors hereby covenant and agree, that as
soon as reasonably practicable but, in any event, no later than 10 (ten) Business Days following
the execution date of this Agreement or such longer period as the Pledgee may agree, acting on the
instructions of the Applicable Representative, the Pledgors shall file this Agreement, through a
Mexican commercial notary public, for registration with the Public Registries of Commerce of the
jurisdictions in which the Pledgors maintain their respective corporate domiciles (the
“Registries”) and to provide written evidence thereof to the Pledgee, for which purpose the
Pledgors shall deliver to the Pledgee an original letter executed by such Mexican commercial notary
public whereby such Mexican notary public certifies that this Agreement has been presented for
registration in the corresponding Registries.

     (c) In addition, the Pledgors hereby covenant and agree to deliver to the

-11-

 

Pledgee, as soon as reasonably practicable but, in any event, no later than 45 (forty five)
Business Days following the execution date of this Agreement or such longer period as the Pledgee
may agree, acting on the instructions of the Applicable Representative, an original executed copy
of this Agreement duly sealed by the corresponding Registries evidencing that this Agreement has
been properly registered with such Registries.

     (d) Subject to the Agreed Security Principles, if and when any of the Pledgors own any
Intellectual Property, the Pledgors hereby agree to file this Agreement for registration in the
corresponding file before the Mexican Institute of Intellectual Property, as soon as reasonably
practicable but, in any event, no later than 15 (fifteen) Business Days from the date on which such
event occurs or such longer period as the Pledgee may agree, acting on the instructions of the
Applicable Representative.

     (e) Without prejudice to the rights of the Pledgee under the Loan Documents, the Pledgee
hereby irrevocably waives the provisions of, and any rights it might have under Articles 357 final
paragraph and 361 third paragraph of the Law.

     (f) For the purposes of the first paragraph of Article 348 of the Law, the amount of the
Secured Obligations shall be an amount ascertainable at the time of foreclosure.

Third.- Continuing Security Interest. The Security Interest shall be continuing and shall
(i) remain in full force and effect until all of the Secured Obligations have been paid pursuant to
the Loan Documents unless otherwise released pursuant to this Clause Third or Clause Tenth; (ii) be
binding upon the Pledgors, and their respective successors and assigns; and (iii) inure to the
benefit of and be enforceable by the Pledgee, acting in the name and on behalf of the Secured
Parties, and their respective successors and assigns; provided, however, that if a
Pledgor disposes of any Pledged Assets and that disposal is permitted by the Loan Documents, those
Pledged Assets shall, unless an Event of Default has occurred and is continuing, be automatically
released from the Security Interest created under this Agreement with effect from the day of such
disposal, and the Pledgee, upon receipt of written instructions from the Applicable Representative,
shall do all such acts which are reasonably requested by the Pledgors in order to release the
relevant Pledged Assets from the Security Interest created under this Agreement.

Fourth.- Covenants of the Pledgors.

     (a) So long as this Agreement is in effect, the Pledgors covenant and agree, that the Pledgors
(i) shall not create, incur, assume, or permit to exist any Lien in favor of, or any claim of any
Person with respect to, any of the Pledged Assets, whether now

-12-

 

owned or hereafter acquired, except for the Security Interest or as permitted by the Loan
Documents; (ii) except to the extent permitted by the Loan Documents, shall not sell, transfer,
assign, pledge, deliver, transfer in trust, grant, usufruct or otherwise dispose of, or grant any
option with respect to, any such Pledged Assets or any interest therein without the prior written
consent of the Pledgee; and (iii) subject to the Agreed Security Principles, shall execute and
deliver to the Pledgee such documents in favor of the Pledgee and do such things relating to the
Security Interest as the Pledgee may reasonably request in order to protect and maintain the
Security Interest and to protect and preserve the Pledgors’ and/or the Pledgee’s title and interest
in and to the Pledged Assets, and pay all costs arising from or in connection therewith.

     (b) The Pledgors hereby expressly and irrevocably waive the exercise of any and all rights set
forth in Article 358 of the Law without the prior written consent of the Pledgee, and with respect
to such waiver, except as otherwise permitted by the Loan Documents.

Fifth.- Use and Transfer of Pledged Assets. Each of the Pledgors shall be entitled to (i)
use its Pledged Assets as permitted by the Loan Documents; (ii) Transfer or otherwise dispose of
its Pledged Assets as permitted by the Loan Documents; provided, however that the proceeds or
assets received by the Pledgors in consideration of any such Transfer (unless constituting Excluded
Assets) shall become part of the Pledged Assets; and (iii) collect and receive any and all
payments, distributions or any other consideration arising from or relating to its Pledged Assets
and use the proceeds from any Transfer of its Pledged Assets only as permitted by the Loan
Documents. For purposes of Article 374, paragraph I, of the Law, the Pledgee hereby authorizes the
Pledgors to Transfer cash or other Pledged Assets to its shareholders and partners as permitted by
the Loan Documents, regardless of the equity interest percentage that such transferees may hold in
the respective Pledgor.

Pursuant to Article 357 of the Law, the parties hereby agree that (i) the Pledged Assets shall be
located where the Pledgors carry out their main activities in the ordinary course of business; (ii)
the Pledgors may only make Transfers within the ordinary course of business pursuant to the terms
of this Agreement or as permitted by the Loan Documents; and (iii) the proceeds or assets received
by the Pledgors in consideration of such Transfer (unless constituting Excluded Assets) shall
become part of the Pledged Assets, in each case, except as otherwise permitted by the Loan
Documents.

Sixth.- Events of Default. If an Event of Default has occurred and is continuing, (i) each
and every right of the Pledgors under Clause Fifth will automatically cease; (ii) any and all
rights relating to or in connection with the Pledged Assets may be exercised exclusively by the
Pledgee; and (iii) the Pledgee shall have the right to foreclose upon the Pledged Assets pursuant
to the provisions of Clause Seventh of this

-13-

 

Agreement, and to exercise its rights in any other manner as set forth in the Law and the
Commercial Code.

Seventh.- Foreclosure Procedure.

(a) If an Event of Default has occurred and is continuing, the Pledgee shall be entitled to
initiate the foreclosure of the Pledged Assets and commence an extra-judicial or judicial
foreclosure procedure, as the case may be, pursuant to Book V, Title III Bis, Chapters I and/or II,
as the case may be, of the Commercial Code, in order to seek payment of the Secured Obligations and
to pursue the delivery and physical possession of the Pledged Assets through any such procedure.

(b) Pursuant to Article 1414 bis and 1414 bis 17 of the Commercial Code, the parties hereby agree
that for purposes of appraising the Pledged Assets, the Pledgors hereby expressly authorize the
Pledgee, at the sole expense of the Pledgors, to obtain an appraisal of the Pledged Assets from an
authorized Mexican banking institution (institución de crédito) designated by the Pledgee.

(c) The Pledgors shall take any and all actions and/or initiate any and all proceedings that may be
necessary or convenient, in the Pledgee’s sole discretion, to facilitate the foreclosure and
transfer of the Pledged Assets. The Pledgors further agree to do or cause to be done all such other
acts as may be necessary or convenient to expedite such sale or sales of all or any portion of the
Pledged Assets, and to execute and deliver such documents and take such other action as the Pledgee
deems necessary or advisable in order that any such sale may be in compliance with applicable law.

(d) The Pledgee shall apply all amounts received under this Agreement pursuant to the provisions of
the First Lien Intercreditor Agreement.

Eighth.- Capacity of Collateral Agent. The Pledgors hereby (i) expressly acknowledge that
the Pledgee, in its capacity as Collateral Agent, has all necessary appointments, legal capacity
and authority to act in the name and on behalf of the Secured Parties for all matters arising from
or relating to this Agreement; and (ii) expressly waive their rights to carry out any action
challenging the legal existence, appointments, legal or other capacity and authority of the Pledgee
to act in the name and on behalf of the Secured Parties for all matters arising from, or relating
to, this Agreement or otherwise. The rights, duties, privileges, protections and benefits of the
Pledgee as Collateral Agent set forth in the First Lien Intercreditor Agreement are hereby
incorporated herein by reference and made a part hereof. Each of the Pledgors agrees that all acts
to be executed by such Pledgor under this Agreement shall be in accordance with the terms and
conditions of the Intercreditor Arrangements.

-14-

 

Ninth.- Power of Attorney. Each of the Pledgors, by way of security irrevocably appoints
the Pledgee and any receiver appointed by the Pledgee to be its attorney in fact, and in its name,
on its behalf and as its act and deed to execute, deliver and perfect all documents and do all
things which the attorney in fact may consider to be required or desirable for:

	 	(a)	 	carrying out any obligation imposed on a Pledgor by this Agreement or any
other agreement binding on that Pledgor to which the Pledgee is a party (including the
execution and delivery of any deeds, charges, assignments or other security and any
transfers of the Pledged Assets);
	 
	 	(b)	 	enabling the Pledgee to exercise, or delegate the exercise of, all or any of
its rights over the Pledged Assets; and
	 
	 	(c)	 	enabling any receiver appointed by Pledgee to exercise, or delegate the
exercise of, any of the rights, powers and authorities conferred on them by or pursuant
to this Agreement or by law,
	 
	 	provided always that the Pledgee may only be entitled to exercise the powers conferred upon
it by each of the Pledgors under this Clause Ninth if:
	 
	 	(i)	 	an Event of Default has occurred and is continuing; and/or
	 
	 	(ii)	 	the Pledgee has received notice from the Applicable Representative, the
Loan Parties’ Agent and/or any of the Pledgors that any of the Pledgors has failed to
comply with a further assurance or perfection obligation within 10 (ten) Business
Days of being notified of that failure (with a copy of that notice being sent to the
Loan Party’s Agent),
	 
	 	provided further that the Pledgee shall not be obliged to exercise the powers conferred upon
it by each of the Pledgors under this Clause Ninth unless and until it shall have been (a)
instructed to do so by the Applicable Representative and (b) indemnified and/or secured
and/or prefunded to its satisfaction.

For purposes of this Clause, each of the Pledgors shall grant a notarized irrevocable special power
of attorney, substantially in terms of Exhibit “B” hereto, pursuant to the terms of article
2,596 of the Federal Civil Code and its correlatives for the other States of Mexico and the Federal
District, in order to allow the Pledgee to perform any and all acts referred to in this Clause
Ninth, with the authorities referred to in the first, second and third paragraph of article 2,554
of the Federal Civil Code and its correlative Articles of the Civil Codes of the States of the
United Mexican States and the Federal District and that includes the authority to delegate such
special power of attorney.

-15-

 

Tenth.- Release and Termination. The Security Interest constituted by this Agreement shall
be released and cancelled:

	 	(a)	 	by the Pledgee (acting on the instruction of the Applicable Representative)
at the request and cost of each of the Pledgors, upon the Secured Obligations being
irrevocably paid or discharged in full and none of the Secured Parties being under
further actual or contingent obligation to make advances or provide other financial
accommodation to the Pledgors 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
Mexican law).

As soon as is reasonably practicable and (i) in respect of paragraph (a) above, following a written
request from the Pledgors, or (ii) in respect of paragraph (b) above, following receipt of a
written instruction from the Applicable Representative, the Pledgee shall deliver to the Pledgors a
termination notice (the “Termination Notice”), ratified before a Mexican notary public, who
shall be instructed to present such Termination Notice to the corresponding Registries for the
cancellation of the Security Interest. Upon delivery of the Termination Notice by the Pledgee to
the Pledgors as herein contemplated, this Agreement shall terminate and the Security Interest shall
cease, terminate and be released. The Pledgors shall be responsible, jointly and without
limitation, for the payment of any and all costs, expenses or fees, related to the cancellation of
the Security Interest contemplated in this Agreement.

Eleventh.- Delegation. The Pledgee, and any receiver appointed by Pledgee, 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 referred to in Clause Ninth
hereto) 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 Pledgee or any receiver hereto.

Twelfth.- No Liability. None of the Pledgee, its nominee(s) or any receiver or delegate
appointed pursuant to this Agreement shall be liable by reason of (a) taking any action permitted
under this Agreement, (b) any neglect or default in connection with the Security Interest, or (c)
taking possession or realization of all or any part of the Pledged Assets, except to the extent
provided in the Principal Finance Documents.

Thirteenth.- Indemnity. To the extent set out in Section 4.11 of the First Lien
Intercreditor Agreement, each of the Pledgors shall, notwithstanding any release or discharge of
all or any part of the security, indemnify the Pledgee, its agents, its attorneys, any delegate and

-16-

 

any receiver against any action, proceeding, claims, losses, liabilities, expenses, demands, taxes
and costs which it may sustain as a consequence of any breach by each of the Pledgors 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 Security Interest.

Fourteenth.- Assignments. Unless otherwise permitted under the Loan Documents, the rights
and obligations arising from this Agreement may not be assigned or transferred by the Pledgors to
any third party without the prior written consent of the Pledgee. The Pledgee may assign or
transfer, in whole or in part, its rights and obligations hereunder in accordance with the Loan
Documents.

Fifteenth.- Amendments. This Agreement may only be amended or modified with the prior
written consent of the Pledgors and the Pledgee.

Sixteenth.- Notices. Each notice or other communication to be given or made by a party in
connection with this Agreement shall be given or made in accordance with the provisions of the
First Lien Intercreditor Agreement, provided that with respect to any notice to be given or made
pursuant to or under a judicial procedure, each Pledgor designates the following address:

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

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

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

Indiana 435

Fracc. Industrial Valle de Saltillo

25217, Saltillo, Coahuila, México

Attention: General Manager

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

Carr. Tecate Ensenada Km 103.5 No. 1473,

Col. El Sauzal de Rodríguez, 22760, Ensenada, B.C. México

Attention: General Manager

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

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

Circuito Productividad Poniente 120,

Col. Las Pintas, 45690, El Salto, Jal. México

Attention: General Manager

-17-

 

All with a copy (which shall not constitute notice) to:

Rank Group Limited

Level 9, 148 Quay St., Auckland, 1140, New Zealand

Attention: Helen Golding

Telephone: +64 (0) 9366 6259

Fax No. +64 (0) 9366 6263

Seventeenth.- Exhibits and Captions. All documents attached hereto or to which reference is
made herein are hereby incorporated by reference into, and shall be deemed a part of, this
Agreement. The captions and headings contained in this Agreement are for convenience only and shall
not affect the interpretation of this Agreement.

Eighteenth.- Further Assurances. Subject to the Agreed Security Principles, the Pledgors,
at the Pledgee’s request, agree to promptly execute or cause to be executed and deliver to the
Pledgee any and all documents, instruments and agreements, in connection with this Agreement,
deemed necessary by the Pledgee (acting on the instructions of the Applicable Representative) to
give effect to or carry out the terms or intent of this Agreement or any of the Loan Documents.

Nineteenth.- 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 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.

Twentieth.- 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]

-18-

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed on this
29th day of January 2010.

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.

	 	 	 	 	 
	 	 	 
	    /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/ Hernando Becerra Cima
 	 	 
	Name:  	Hernando Becerra Cima 	 	 
	Title:  	Attorney-in-fact 	 	 

-19-

 

	 	 	 	 	 

Exhibit “A”

Floating Lien Pledge Agreement

Copy of First Lien Intercreditor Agreement

and Amendment

 

Exhibit “B”

Floating Lien Pledge Agreement

Form of Power of Attorney

	 	 	 

	PODER ESPECIAL	 	SPECIAL POWER OF
ATTORNEY
	 
	 	 
	En la Ciudad de _______,
el
___ de _________ de
2010, ante mi __________,
Notario Público, compareció
__________ en su carácter de
___________ de
____________, (la
“Sociedad”)
una sociedad debidamente
constituida y existente de
conformidad con las leyes de
__________, con su domicilio
en ________________,
y expuso:
	 	In the City of _________,
on __________, 2010, before me
____________ Notary Public,
appeared _______, in his
capacity as
_____________  of
__________________
(the
“Corporation”) a corporation
organized and existing pursuant
to the laws of _____________,
and having its principal offices
in _____________ and
declared:

	 	 
	Que en nombre y representación de
la Sociedad y de conformidad con
los poderes que le confiere la
Sociedad, por medio del presente otorga como garantía:
	 	That in the name and on behalf of the
Corporation and in accordance with the
powers conferred by the Corporation,
hereby grants by way of security:
	 
	 	 
	1. Un PODER ESPECIAL en cuanto a
su objeto pero general en cuanto
a las facultades otorgadas, con
facultades de delegación, a favor
de The Bank of New York Mellon
(el “Acreedor Prendario”),
actuando únicamente en su
carácter de Agente de Garantías
(Collateral Agent), en
representación y para el
beneficio de las Partes
Garantizadas (Secured Parties) y
cualquier delegado designado por
el Acreedor Prendario, para que,
en nombre y representación de la
Sociedad, puedan,
individualmente, celebrar, firmar
y perfeccionar cualquier
documento y llevar a cabo
cualesquiera actuaciones que el
apoderado considere necesarias o
deseables, en relación con el
Contrato de Prenda sin
Transmisión de Posesión celebrado
entre Grupo CSI de México, S. de
R.L. de C.V., CSI en Saltillo, S.
de R.L. de

	 	1. A SPECIAL POWER-OF-ATTORNEY deemed
as special in regards to its purpose
but as general in regards to the
powers granted, with authority to
delegate such power, in favor of The
Bank of New York Mellon (the
“Pledgee”), acting solely in its
capacity as Collateral Agent, on
behalf and for the benefit of the
Secured Parties and any receiver
appointed by the Pledgee, so that in
the name and on behalf of the
Corporation they may, severally,
execute, deliver and perfect all
documents and do all things which the
attorney in fact may consider to be
required or desirable, in connection
with the Floating Lien Pledge
Agreement (Contrato de Prenda sin
Transmisión de Posesión) entered into,
by and among Grupo CSI de México, S.
de R.L. de C.V., CSI en Saltillo, S.
de R.L. de C.V., Bienes Industriales
del Norte, S.A. de 

-21-

 

	 	 	 

	C.V., Bienes
Industriales del Norte, S.A. de
C.V., Técnicos de Tapas
Innovativas, S.A. de C.V., CSI
Tecniservicio, S. de R.L. de
C.V., y CSI en Ensenada, S. de
R.L. de C.V., como deudores
prendarios, y el Acreedor
Prendario, actuando únicamente en
su carácter de Agente de Garantías (Collateral Agent), en
representación y para el
beneficio de las Partes
Garantizadas (Secured Parties),
como acreedor prendario, (según
dicho Contrato de Prenda sin
Transmisión de Posesión haya sido
o sea modificado, suplementado o
modificado y reexpresado de
tiempo en tiempo, en lo sucesivo,
el “Contrato de Prenda”), para:

	 	C.V., Técnicos de
Tapas Innovativas, S.A. de C.V., CSI
Tecniservicio, S. de R.L. de C.V., and CSI en Ensenada, S. de R.L. de C.V as
pledgors, and the Pledgee, acting
solely in its capacity as Collateral
Agent on behalf and for the benefit of
the Secured Parties, as pledgee (as
such Floating Lien Pledge Agreement
may be amended, supplemented, modified
or amended and restated from time to
time, hereinafter, the “Pledge
Agreement”), for:
	 
	 	 
	(a) llevar a cabo cualquier acto
para cumplir con cualquier
obligación impuesta a la Sociedad
mediante el Contrato de Prenda o
cualquier otro contrato que
obligue a la Sociedad y del cual
sea parte el Acreedor Prendario
(incluyendo la celebración y
entrega de cualesquier actos,
gravámenes, cesiones u otra
garantía y cualesquier
transmisiones de los Bienes
Pignorados (según dicho término
se define en el Contrato de
Prenda));

	 	(a) carrying out any obligation
imposed on the Corporation by the
Pledge Agreement or any other
agreement binding on the Corporation
to which the Pledgee is a party
(including the execution and delivery
of any deeds, charges, assignments or
other security and any transfers of
the Pledged Assets (as such term is
defined in the Pledge Agreement));
	 
	 	 
	(b) permitir al
Acreedor Prendario
para que ejerza, o
delegue el ejercicio
de, todos y o
cualquiera de sus
derechos sobre los
Bienes Pignorados; y

	 	(b) enabling the Pledgee to exercise,
or delegate the exercise of, all or
any of its rights over the Pledged
Assets; and
	 
	 	 
	(c) permitir a
cualquier delegado
designado por el
Acreedor Prendario
para que ejerza, o
delegue el ejercicio
de, cualquier de los
derechos, poderes y
facultades conferidos
sobre los mismos por
o conforme al
Contrato de Prenda o
por ley;

	 	(c) enabling any receiver appointed by
Pledgee to exercise, or delegate the
exercise of, any of the rights, powers
and authorities conferred on them by
or pursuant to the Pledge Agreement or
by law;
	 
	 	 
	en el entendido en todo momento
que el Acreedor Prendario
únicamente tendrá el

	 	provided always that the Pledgee may
only be entitled to exercise the powers

-22-

 

	 	 	 

	derecho de
ejercer los poderes que le han
sido conferidos por este poder
(incluyendo los mencionados
abajo) si: un Caso de
Incumplimiento ha ocurrido y
continúa; y/o el Acreedor
Prendario ha recibido una
notificación del Representante
Aplicable, el Agente de las
Partes del Crédito y/o de la
Sociedad de que la Sociedad ha
incumplido con cualquier
obligación (incluyendo
obligaciones de
perfeccionamiento) dentro de los
10 (diez) Días Hábiles de que se
le haya notificado de dicho
incumplimiento (con copia de
dicha notificación entregada al
Agente de las Partes del
Crédito), en el entendido además
que el Acreedor Prendario no
tendrá la obligación de ejercer
los poderes que le han sido
conferidos por la Sociedad
conforme al presente poder
(incluyendo los mencionados
abajo), salvo y hasta que se le
haya (i) instruido a ejercerlos
por el Representante Aplicable, e
(ii) indemnizado y/o garantizado
y/o pre-fondeado a su
satisfacción.

	 	conferred upon it by this power
of attorney (including those below)
if: an Event of Default has occurred
and is continuing; and/or the Pledgee
has received notice from the
Applicable Representative, the Loan
Parties’ Agent and/or the Corporation
that the Corporation has failed to
comply with a further assurance or
perfection obligation within 10 ten
Business Days of being notified of
that failure (with a copy of that
notice being sent to the Loan Party’s
Agent), provided further that the
Pledgee shall not be obliged to
exercise the powers conferred upon it
by the Corporation under this Power
(including those below) unless and
until it shall have been (a)
instructed to do so by the Applicable
Representative and (b) indemnified
and/or secured and/or prefunded to its
satisfaction.
	 
	 	 
	Para poder llevar a cabo los
actos mencionados en los incisos
anteriores, y sin perjuicio de la
especialidad de los facultades
otorgadas, los apoderados
contarán con:

	 	In order to carry out the acts
referred to in the preceding sections,
and notwithstanding the special nature
of the powers granted, the
attorneys-in-fact are hereby granted
with:
	 
	 	 
	(i) Poder para pleitos y
cobranzas, actos de
administración y actos de dominio
en los términos del primer,
segundo y tercer párrafos del
artículo dos mil quinientos
cincuenta y cuatro del Código
Civil Federal y sus correlativos
contenidos en los Códigos Civiles
de los demás estados de los
Estados Unidos Mexicanos y el
Distrito Federal; y

	 	(i) A power of attorney for lawsuits
and collections, acts of
administration and acts of ownership
in terms of the first, second and
third paragraphs of Article two
thousand five hundred and fifty four
of the Federal Civil Code and its
correlative Articles of the Civil
Codes of the remaining States of the
United Mexican States and the Federal
District; and
	 
	 	 
	(ii) poder especial para suscribir y endosar

	 	(ii) a special power of attorney to subscribe 

-23-

 

	 	 	 

	títulos de
crédito en los términos del
artículo 9o de la Ley General de
Títulos y Operaciones de Crédito.

	 	and endorse negotiable
instruments in accordance with article
9 of the General Law of Negotiable
Instruments and Credit Operations.
	 
	 	 
	El presente poder es irrevocable
en los términos de artículo 2596
(dos mil quinientos noventa y
seis) del Código Civil Federal y
sus artículos correlativos en los
Códigos Civiles de los demás
Estados de la República, por
haberse otorgado como una
condición en un contrato
bilateral y como un medio para el
cumplimiento de sus obligaciones
conforme al Contrato de Prenda.

	 	The special power of attorney granted
hereby is irrevocable pursuant to the
terms of article 2,596 of the Federal
Civil Code its correlative Articles of
the Civil Codes of the States of the
United Mexican States and the Federal
District, it being a condition of a
bilateral agreement and a mean to
comply with its obligations under the
Pledge Agreement.
	 
	 	 
	Para efectos del párrafo quinto
del Artículo 2554 del Código
Civil Federal, el mismo se transcribe a continuación:

	 	For purposes of paragraph fifth of
Article 2554 of the Federal Civil
Code, a transcription thereof follows:
	 
	 	 
	“Artículo 2554. En todos los
poderes generales para pleitos y
cobranzas bastará que se diga que
se otorga con todas las
facultades generales y las
especiales que requieran cláusula
especial conforme a la ley para
que se entiendan conferidos sin
limitación alguna.

	 	“Article 2554. In all general powers
of attorney for lawsuits and
collections it shall be sufficient to
say that they are granted with all the
general powers and with the special
powers requiring special clause in
accordance with the law in order that
they may be considered as granted
without any limitation.
	 
	 	 
	En los poderes generales para
administrar bienes, bastará
expresar que se dan con este
carácter para que el apoderado
tenga toda clase de facultades
administrativas.

	 	In general powers of attorney to
administer property, it shall be
sufficient to state that they are
given with that character, in order
that the attorneys-in-fact may have
all kinds of administrative powers.
	 
	 	 
	En los poderes generales, para
ejercer actos de dominio, bastará
que se den con ese carácter para
que el apoderado tenga todas las
facultades de dueño, tanto en lo
relativo a los bienes, como para
hacer toda clase de gestiones, a
fin de defenderlos.

	 	In general powers of attorney to
exercise acts of ownership, it shall
be sufficient that they be given with
that character, in order that the
attorneys-in-fact may have all the
powers of an owner, both with respect
to the property, and to take all
actions to defend it.

-24-

 

	 	 	 

	 
	 	 
	Cuando se quisieren limitar, en
los tres casos antes mencionados,
las facultades de los apoderados,
se consignarán las limitaciones,
o los poderes serán especiales.

	 	If in any of the aforesaid three cases
it should be desired to limit the
authority of the attorneys-in-fact,
the limitation shall be set out, or
the powers of the attorneys-in-fact
shall be special powers of attorney.
	 
	 	 
	Los Notarios insertarán este
Artículo en los testimonios de
los poderes que otorguen.”

	 	Notaries shall insert this Article in
the instruments of powers of attorney
which they execute.”
	 
	 	 
	Salvo que un término se encuentre
definido en este poder o el
contexto lo requiera de otra
forma, un término definido en el
Contrato de Prenda y/o el
Convenio entre Acreedores (como
dicho término se define en el
Contrato de Prenda) tiene el
mismo significado en este poder.

	 	Unless defined in this power of
attorney or the context otherwise
requires, a term defined in the Pledge
Agreement and/or the First Lien
Intercreditor Agreement (as defined in
the Pledge Agreement) has the same
meaning in this Power of Attorney.
	 
	 	 
	
 

Nombre: [____________]

Cargo:

	 	
 

Nombre: [____________]

Title:

-25-exv4w146

EXHIBIT 4.146

EQUITY INTERESTS PLEDGE AGREEMENT

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 Equity Interests Pledge Agreement (Contrato de Prenda sobre Acciones y Partes Sociales)
is entered into on this 29th day of January, 2010 (the “Agreement”), by and
among Grupo CSI de México, S. de R.L. de C.V. (“Grupo CSI”), Closure Systems International
B.V. (“Closure Systems International”), CSI Mexico LLC (“CSI Mexico”), CSI en
Saltillo, S. de R.L. de C.V. (“CSI Saltillo”), Closure Systems Mexico Holdings LLC
(“Closure Systems Mexico”, and collectively with Grupo CSI, Closure Systems International,
CSI Mexico, and CSI Saltillo, the “Pledgors”), as pledgors, and The Bank of New York
Mellon, acting solely in its capacity as Collateral Agent (as defined below) on behalf and for the
benefit of the Secured Parties (as defined below) (in such capacity, together with its successors
and assigns in such capacity, the “Pledgee”), as pledgee, with the acknowledgment of Bienes
Industriales del Norte, S.A. de C.V. (“Bienes Industriales”), Técnicos de Tapas
Innovativas, S.A. de C.V. (“Tapas Innovativas”), CSI Tecniservicio, S. de R.L. de C.V.
(“CSI Tecniservicio”), and CSI en Ensenada, S. de R.L. de C.V. (“CSI Ensenada”), in
accordance with the following Recitals, Representations and Warranties and Clauses. Capitalized
terms used in the Recitals and Representations and Warranties which are not otherwise defined
herein, shall have the meaning ascribed to such terms in Clause First hereof.

Recitals

     I. Credit Agreement. On November 5, 2009, Reynolds Group Holdings Inc., Reynolds
Consumer Products Holdings Inc., Closure Systems International Holdings Inc., SIG Euro Holding AG
& Co KGaA, SIG Austria Holding Gmbh and Closure Systems International B.V., 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 (in such capacity, together with its
successors

 

 

and assigns in such capacity, the “Administrative Agent”), entered into a credit agreement
(as amended on January 21, 2010 and as further amended, extended, restructured, renewed, novated,
supplemented, restated, refunded, replaced or modified from time to time, the “Credit
Agreement”).

     II. Senior Secured Note Indenture. On November 5, 2009, Reynolds Group Escrow LLC,
Reynolds Group DL Escrow Inc. and The Bank of New York Mellon, acting in its capacity as trustee,
principal paying agent, transfer agent and collateral agent, entered into the Senior Secured Note
Indenture (as amended, extended, restructured, renewed, refunded, novated, supplemented, restated,
replaced or modified from time to time, the “Senior Secured Note Indenture”).

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)	 	(i) Grupo CSI is a sociedad de responsabilidad limitada de capital variable
duly organized and validly existing under the laws of Mexico, as evidenced in public
deed number 1261, dated April 1, 2008, granted before Mr. Gerardo F. Saavedra Silva,
Commercial Notary Public number 50 of the Federal District, recorded in the Public
Registry of Commerce of Saltillo, Coahuila, under commercial folio number 13612*2;
(ii) Closure Systems International is a private limited liability company (besloten
vennootschap met beperkte aansprakelijkheid) incorporated and duly organized under the
laws of the Netherlands, having its official seat in Amsterdam and its registered
office address at Teleport boulevard 140, 1043 EJ Amsterdam, the Netherlands and
registered in the commercial register of Amsterdam under number 34291082; (iii) CSI
Mexico is a limited liability company, duly organized, validly existing and in good
standing under the laws of Delaware, United States of America; (iv) CSI Saltillo is a
sociedad de responsabilidad limitada de capital variable duly organized and validly
existing under the laws of Mexico, as evidenced in public deed number 1259, dated
April 1, 2008, granted before Mr. Gerardo F. Saavedra Silva, Commercial Notary Public
number 50 of the Federal District, which was recorded in the Public Registry of
Commerce of Saltillo, Coahuila, under commercial folio number 9051*2; and (v) Closure
Systems Mexico is a limited liability company, duly organized, validly existing and in
good standing under the laws of Delaware, United States of America;

	 	(b)	 	Grupo CSI is the sole, legal and beneficial owner (and registered owner

2

 

	 	 	 	in the stock registry book of Bienes Industriales and Tapas Innovativas
respectively) of and has legal title to (i) 243,596 (two hundred and forty three
thousand five hundred and ninety six) shares representing $243,596,000.00 M.N. (two
hundred and forty three million five hundred and ninety six thousand Pesos 00/100)
of the total issued and outstanding capital stock of Bienes Industriales (the
“Grupo CSI Bienes Industriales Pledged Shares”); and (ii) 49 (forty nine)
            shares representing $49,000.00 M.N. (forty nine thousand Pesos 00/100) of the total
issued and outstanding capital stock of Tapas Innovativas (the “Grupo CSI Tapas
Innovativas Pledged Shares” and collectively with the Grupo CSI Bienes
Industriales Pledged Shares, the “Grupo CSI Pledged Shares”);

	 	(c)	 	Closure Systems International is the sole, legal and beneficial owner (and
registered owner in the stock registry book of Bienes Industriales and Tapas
Innovativas respectively) of and has legal title to (i) 1 (one) share representing
$1,000.00 M.N. (one thousand Pesos 00/100) of the total issued and outstanding capital
stock of Bienes Industriales (the “Closure Systems International Bienes
Industriales Pledged Share”); and (ii) 1 (one) share representing $1,000.00 M.N.
(one thousand Pesos 00/100) of the total issued and outstanding capital stock of Tapas
Innovativas (the “Closure Systems International Tapas Innovativas Pledged
Share” and collectively with the Closure Systems International Bienes Industriales
Pledged Share, the “Closure Systems International Pledged Shares”);
	 
	 	(d)	 	CSI Mexico is the sole, legal and beneficial owner of (i) 1 (one) partnership
interest, representing the outstanding capital of Grupo CSI, which in the aggregate
represents 52.48% of the total issued and outstanding capital of Grupo CSI, on a fully
diluted basis (the “CSI Mexico Grupo CSI Pledged Partnership Interest”); and
(ii) 1 (one) partnership interest, representing the outstanding capital of CSI
Saltillo, which in the aggregate represents 00.01% of the total issued and outstanding
capital of CSI Saltillo, on a fully diluted basis (the “CSI Mexico CSI Saltillo
Pledged Partnership Interest”, and collectively with the CSI Mexico Grupo CSI
Pledged Partnership Interest, the “CSI Mexico Pledged Partnership Interests”);
	 
	 	(e)	 	Grupo CSI is the sole, legal and beneficial owner of (i) 2 (two) partnership
interests, representing the outstanding capital of CSI Saltillo, which in the
aggregate represents 99.99% of the total issued and outstanding capital of CSI
Saltillo, on a fully diluted basis (the “Grupo

3

 

	 	 	 	CSI CSI Saltillo Pledged
Partnership Interests”); (ii) 2 (two) partnership
interests, representing the outstanding capital of CSI Ensenada, which in the
aggregate represents 99.99% of the total issued and outstanding capital of CSI
Ensenada, on a fully diluted basis (the “Grupo CSI CSI Ensenada Pledged
Partnership Interests”); and (iii) 2 (two) partnership interests, representing
the outstanding capital of CSI Tecniservicio, which in the aggregate represents
99.99% of the total issued and outstanding capital of CSI Tecniservicio, on a fully
diluted basis (the “Grupo CSI CSI Tecniservicio Pledged Partnership
Interests”, and collectively with the Grupo CSI CSI Saltillo Pledged
Partnership Interests and the Grupo CSI CSI Ensenada Pledged Partnership Interests,
the “Grupo CSI Pledged Partnership Interests”);

	 	(f)	 	CSI Saltillo is the sole, legal and beneficial owner of (i) 1 (one)
partnership interest, representing the outstanding capital of CSI Ensenada, which in
the aggregate represents 00.01% of the total issued and outstanding capital of CSI
Ensenada, on a fully diluted basis (the “CSI Saltillo CSI Ensenada Pledged
Partnership Interest”); and (ii) 1 (one) partnership interest, representing the
outstanding capital of CSI Tecniservicio, which in the aggregate represents 00.01% of
the total issued and outstanding capital of CSI Tecniservicio, on a fully diluted
basis (the “CSI Saltillo CSI Tecniservicio Pledged Partnership Interest”, and
collectively with the CSI Saltillo CSI Ensenada Pledged Partnership Interest, the
“CSI Saltillo Pledged Partnership Interests”);
	 
	 	(g)	 	Closure Systems Mexico is the sole, legal and beneficial owner of 2 (two)
partnership interests, representing the outstanding capital of Grupo CSI, which in the
aggregate represents 42.52% of the total issued and outstanding capital of Grupo CSI,
on a fully diluted basis (the “Closure Systems Mexico Pledged Partnership
Interest”);
	 
	 	(h)	 	Closure Systems International is the sole, legal and beneficial owner of 1
(one) partnership interest, representing the outstanding capital of Grupo CSI, which
in the aggregate represents 5.00% of the total issued and outstanding capital of Grupo
CSI, on a fully diluted basis (the “Closure Systems International Pledged
Partnership Interest”);
	 
	 	(i)	 	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

4

 

	 	 	 	Grupo CSI as evidenced in public deeds numbers 30535 and 30538,
respectively, dated October 30, 2009, granted before Mr. Jose Luis Villavicencio
Castañeda, Notary Public number 218 for Mexico City, and that such powers,
authority and authorizations have not been revoked, modified or limited in any
manner; and

	 	(j)	 	with reference to the facts and circumstances then existing and subject to
the provisions of the Loan Documents and the Intercreditor Arrangements, the
representations and warranties made by such Pledgor as Loan Party in Section 3.01
(Organization; Powers), 3.02 (Authorization), 3.03 (Enforceability), 3.06 (No Material
Adverse Change), 3.07 (Title to Properties; Possession under Leases), 3.08
(Subsidiaries), 3.09 (Litigation, Compliance with Laws), 3.10 (Agreements), 3.19
(Security Documents) and 3.22 (Solvency) of the Credit Agreement, are true and
accurate as regards to such Pledgor and this Agreement.

	II.	 	Each of Bienes Industriales, Tapas Innovativas, CSI Tecniservicio and CSI Ensenada hereby
represents and warrants, with respect to itself, through its legal representatives, that on
the date hereof:

	 	(a)	 	(i) Bienes Industriales is a sociedad anónima de capital variable duly
organized and validly existing under the laws of Mexico, as evidenced in public deed
number 25,097, dated June 25, 1996, granted before Mr. Carlos Alejandro Durán Loera,
Notary Public number 11 of the Federal District, which was recorded in the Public
Registry of Commerce of Reynosa, Tamaulipas, under registration number 778, volume V,
Book First Auxiliary of Companies, Powers and Miscellaneous Contracts, page 230 front;
(ii) Tapas Innovativas is a sociedad anónima de capital variable duly organized and
validly existing under the laws of Mexico, as evidenced in public deed number 28,266,
dated November 26, 1997, granted before Mr. Carlos Alejandro Durán Loera, Notary
Public number 11 of the Federal District, which was recorded in the Public Registry of
Commerce of Guadalajara, Jalisco, under the registration number 175-176, volume 661,
Book First; (iii) CSI Tecniservicio is a sociedad de responsabilidad limitada de
capital variable duly organized and validly existing under the laws of Mexico, as
evidenced in public deed number 1260, dated April 1, 2008, granted before Mr. Gerardo
F. Saavedra Silva, Commercial Notary Public number 50 of the Federal District,
recorded in the Public Registry of Commerce of Saltillo, Coahuila, under commercial
folio number 26269*2; and (iv) CSI Ensenada is a sociedad de responsabilidad limitada
de capital variable duly organized and validly existing under the laws of Mexico, as
evidenced

5

 

	 	 	 	in public deed number 1258, dated April 1, 2008, granted before Mr.
Gerardo F. Saavedra Silva, Commercial Notary Public number 50 of the Federal
District, which was recorded in the Public Registry of Commerce of Ensenada, Baja
California, under commercial folio number 7158*3;

	 	(b)	 	the individual executing this Agreement in its name and on its behalf 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 it under the terms herein, as evidenced in public deeds
numbers 30534, 30536, 30537 and 30539, respectively, dated October 30, 2009, all of
them granted before Mr. Jose Luis Villavicencio Castañeda, Notary Public number 218
for Mexico City; and that such powers, authority and authorizations have not been
revoked, modified or limited in any manner; and
	 
	 	(c)	 	with reference to the facts and circumstances then existing and subject to
the provisions of the Loan Documents and the Intercreditor Arrangements, the
representations and warranties made by such Issuer as Loan Party in Section 3.01
(Organization; Powers), 3.02 (Authorization), 3.03 (Enforceability), 3.06 (No Material
Adverse Change), 3.07 (Title to Properties; Possession under Leases), 3.08
(Subsidiaries), 3.09 (Litigation, Compliance with Laws), 3.10 (Agreements), 3.19
(Security Documents) and 3.22 (Solvency) of the Credit Agreement, are true and
accurate as regards to such Issuer and this Agreement.

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

First. Certain Defined Terms.

(a) Unless defined in this Agreement or the context otherwise requires, a term
defined in the First Lien Intercreditor Agreement has the same meaning in this Agreement
and in any notice given under this Agreement. As used in this Agreement, the following
terms shall have the following meanings:

“Additional Agreement” shall have the meaning assigned to the term “Additional
Agreement” under, and as defined in, the First Lien Intercreditor Agreement.

“Administrative Agent” has the meaning specified in Recital I hereof.

6

 

“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 Equity Interests Pledge Agreement, as the same may be
amended, extended, restructured, renewed, novated, supplemented, restated, refunded,
replaced or modified from time to time.

“Applicable Representative” shall have the meaning assigned to the term “Applicable
Representative” under, and as defined in, the First Lien Intercreditor Agreement.

“Bienes Industriales” has the meaning specified in the preamble to this Agreement.

“Business Day” shall mean a day (other than a Saturday or Sunday) on which banks are
open for business in New York City, New York, United States of America and Mexico.

“Closure Systems International” has the meaning specified in the preamble to this
Agreement.

“Closure Systems International Bienes Industriales Pledged Share” has the meaning
set forth in Representation I (c) of this Agreement.

“Closure Systems International Pledged Partnership Interest” has the meaning set
forth in Representation I (h) of this Agreement.

“Closure Systems International Pledged Shares” has the meaning set forth in
Representation I (c) of this Agreement.

“Closure Systems International Tapas Innovativas Pledged Share” has the meaning set
forth in Representation I (c) of this Agreement.

“Closure Systems Mexico” has the meaning specified in the preamble to this
Agreement.

“Closure Systems Mexico Pledged Partnership Interest” has the meaning set forth in
Representation I (g) of this Agreement.

7

 

“Collateral Agent” shall mean the Pledgee, in its capacity as collateral agent as
appointed under the First Lien Intercreditor Agreement, and its successors and permitted
assigns in such capacity.

“Credit Agreement” shall have the meaning assigned to such term in Recital I hereof.

“CSI Ensenada” has the meaning specified in the preamble to this Agreement.

“CSI Mexico” has the meaning specified in the preamble to this Agreement.

“CSI Mexico CSI Saltillo Pledged Partnership Interest” has the meaning set forth in
Representation I (d) of this Agreement.

“CSI Mexico Grupo CSI Pledged Partnership Interest” has the meaning set forth in
Representation I (d) of this Agreement.

“CSI Mexico Pledged Partnership Interests” has the meaning set forth in
Representation I (d) of this Agreement.

“CSI Saltillo” has the meaning specified in the preamble to this Agreement.

“CSI Saltillo CSI Ensenada Pledged Partnership Interest” has the meaning set forth
in Representation I (f) of this Agreement.

“CSI Saltillo CSI Tecniservicio Pledged Partnership Interest” has the meaning set
forth in Representation I (f) of this Agreement.

“CSI Saltillo Pledged Partnership Interests” has the meaning set forth in
Representation I (f) of this Agreement.

“CSI Tecniservicio” has the meaning specified in the preamble to this Agreement.

“Distributions” has the meaning specified in paragraph (c) of Clause Fourth of this
Agreement.

“Event of Default” shall have the meaning assigned to the term “Event of Default”
under, and as defined in, the First Lien Intercreditor Agreement.

“First Lien Intercreditor Agreement” shall mean the First Lien Intercreditor
Agreement dated as of November 5, 2009, among the Collateral Agent, The

8

 

Bank of New York Mellon, 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 on January 21, 2010 and as further amended, novated,
supplemented, restated or modified from time to time. A copy of the First Lien Intercreditor
Agreement and of its amendment is attached hereto as Exhibit “A”.

“Governmental Authority” means any national or federal government, any state,
regional, local or other political subdivision thereof with jurisdiction and any individual
or entity with jurisdiction exercising executive, legislative, judicial, regulatory or
administrative functions of or pertaining to government or quasi-governmental issues
(including any court).

“Grupo CSI” has the meaning specified in the preamble to this Agreement.

“Grupo CSI Bienes Industriales Pledged Shares” has the meaning set forth in
Representation I (b) of this Agreement.

“Grupo CSI CSI Ensenada Pledged Partnership Interest” has the meaning set forth in
Representation I (e) of this Agreement.

“Grupo CSI CSI Saltillo Pledged Partnership Interest” has the meaning set forth in
Representation I (e) of this Agreement.

“Grupo CSI CSI Tecniservicio Pledged Partnership Interest” has the meaning set forth
in Representation I (e) of this Agreement.

“Grupo CSI Pledged Partnership Interests” has the meaning set forth in
Representation I (e) of this Agreement.

“Grupo CSI Pledged Shares” has the meaning set forth in Representation I (b) of this
Agreement.

“Grupo CSI Tapas Innovativas Pledged Shares” has the meaning set forth in
Representation I (b) of this Agreement.

“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.

9

 

“Issuers” means the collective reference to Grupo CSI, CSI Saltillo, Bienes
Industriales, Tapas Innovativas, CSI Tecniservicio, and CSI Ensenada.

“Law” means the General Law of Negotiable Instruments and Credit Transactions (Ley
General de Títulos y Operaciones de Crédito) of Mexico.

“Lien” shall have the meaning assigned to the term “Lien” under, and as defined in,
the First Lien Intercreditor Agreement.

“Loan Documents” shall have the meaning assigned to the term “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” shall have the meaning assigned to the term “Grantors” under,
and as defined in, the First Lien Intercreditor Agreement.

“Loan Parties’ Agent” shall mean Reynolds Group Holdings Limited (formerly
known as Rank Group Holdings Limited).

“Mexico” means the United Mexican States.

“Person” means any individual or entity, trust, joint venture, partnership,
corporation, Governmental Authority or any other entity of any nature whatsoever.

“Pledged Equity Interests” means the collective reference to the Pledged Partnership
Interests and the Pledged Shares.

“Pledged Partnership Interests” means the collective reference to the Closure
Systems International Pledged Partnership Interest, the Closure Systems Mexico Pledged
Partnership Interest, the CSI Mexico Pledged Partnership Interests, CSI Saltillo Pledged
Partnership Interests, and the Grupo CSI Pledged Partnership Interests.

“Pledged Shares” means the collective reference to the Closure Systems
International Pledged Shares and the Grupo CSI Pledged Shares.

“Pledgee” has the meaning specified in the preamble to this Agreement.

“Pledgors” has the meaning specified in the preamble to this Agreement.

10

 

“Principal Finance Documents” means the Credit Agreement, the Senior Secured Note
Indenture, the Intercreditor Arrangements and any Additional Agreement.

“Prohibition” has the meaning specified in paragraph (b) of Clause First of this
Agreement.

“Secured Obligations” shall mean all present and future obligations and liabilities
(whether actual or contingent and whether owed jointly or severally or in any other capacity
whatsoever) of each 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, 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
document evidencing or securing any such liabilities.

“Secured Parties” shall have the meaning assigned to the term “Secured Parties”
under, and as defined in, the First Lien Intercreditor Agreement.

“Security Interest” has the meaning specified in paragraph (a) of Clause Second
of this Agreement.

“Senior Secured Note Indenture” has the meaning assigned to such term in Recital II
hereof.

“Tapas Innovativas” has the meaning specified in the preamble to this
Agreement.

“Termination Notice” has the meaning specified in Clause Eleventh of this Agreement.

(b) The definitions in this Clause First shall apply equally to both the singular and plural forms
of the terms defined. Whenever the context may require, any pronoun shall include the
corresponding masculine, feminine and neutral forms. The words “hereof”, “herein” and “hereunder”
and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole
and not to any particular provision of this Agreement, unless otherwise expressly indicated, and
all references in this Agreement to Clauses, sections, and paragraphs shall be deemed to be
references to Clauses, sections paragraphs of this Agreement, unless the context shall otherwise
require. As used herein and any certificate or other document made or delivered pursuant hereto,
(i) the words “include”, “includes” and “including” shall be deemed to be followed by the phrase
“without limitation”, unless such phrase,

11

 

otherwise appears, (ii) the word “incur” shall be construed to mean incur, create, issue, assume,
become liable in respect of or suffer to exist (and the words “incurred” and “incurrence” shall
have correlative meanings), (iii) the words “asset” and “property” shall be construed to have the
same meaning and effect and to refer to any and all tangible and intangible assets and properties,
including cash, capital stock, securities, revenues, accounts, leasehold interests and contract
rights, (iv) references to agreements shall, unless otherwise specified, be deemed to refer to such
agreements as amended, extended, restructured, renewed, novated, supplemented, restated, refunded,
replaced or modified from time to time, and (v) references to any statute, law or regulation shall
be deemed to include any amendments thereto from time to time or any successor statute, law or
regulation thereof.

No obligations shall be included in the definition of “Secured Obligations” to the extent that, if
included, the security interest granted pursuant to this Agreement or any part thereof would be
void as a result of a violation of the prohibition on financial assistance as contained in Articles
2:98c and 2:207c of the Dutch Civil Code or any other applicable financial assistance rules under
any relevant jurisdiction (the “Prohibition”) and all provisions hereof will be construed
accordingly. For the avoidance of doubt, this Agreement will continue to secure those obligations
which, if included in the definition of “Secured Obligations”, would not constitute a violation of
the Prohibition.

Second. Pledge; Grant of Security Interest.

	(a)	 	Each of the Pledgors hereby grants a first priority pledge and security interest (the
“Security Interest”) to the Pledgee for the benefit of the Secured Parties, in and to
its Pledged Equity Interests as collateral security for the due and timely payment,
performance and satisfaction when due (whether at stated maturity, by acceleration or
otherwise) of any and all of the Secured Obligations.
	 
	(b)	 	For purposes of perfecting the Security Interest over the Pledged Equity Interests
pursuant to paragraphs II and III of Article 334 of the Law, the Pledgors hereby deliver to
the Pledgee (i) an executed original of this Agreement, (ii) the original stock certificates
evidencing its right, title and interest in and to its Pledged Shares, duly endorsed “in
pledge” (“en prenda”) in favor of the Pledgee, for the ratable benefit of the Secured
Parties, and (iii) a copy of the entry made in the stock registry book or the partners
registry book, as the case may be, of each Issuer, duly certified by an authorized officer
or attorney-in-fact of each Issuer, evidencing that, on the date hereof, the Security
Interest in and to the Pledged Equity Interests has been duly recorded in the stock registry
book or partners registry book, as the case may be, of each Issuer.

12

 

	(c)	 	In accordance with Article 337 of the Law, the Pledgors and the Pledgee agree that this
Agreement shall serve as receipt (resguardo) by the Pledgee of the Pledged Equity Interests
and the original stock certificates representing the Pledged Shares.
	 
	(d)	 	Without prejudice to the rights of the Pledgee under the Loan Documents, the Pledgee hereby
irrevocably waives the provisions of, and any rights it might have under, Articles 340, 342
and 343 of the Law.

Third. Continuing Security Interest. The Security Interest shall be continuing and shall
(i) remain in full force and effect until all of the Secured Obligations have been paid pursuant to
the Loan Documents unless otherwise released pursuant to this Clause Third or Clause Eleventh; (ii)
be binding upon the Pledgors, and their successors and permitted assigns; and (iii) inure to the
benefit of and be enforceable by the Pledgee, acting on behalf of the Secured Parties, and their
respective successors and assigns; provided, however, that if a Pledgor disposes of
any Pledged Equity Interest and that disposal is permitted by the terms of the Loan Documents,
those Pledged Equity Interests shall, unless an Event of Default has occurred and is continuing, be
automatically released from the Security Interest created under this Agreement with effect from the
day of such disposal, and the Pledgee shall do all such acts which are reasonably requested by the
Pledgor in order to release the relevant Pledged Equity Interests from the Security Interest
created under this Agreement.

Fourth. Voting and Management of the Pledged Equity Interests.

	(a)	 	Subject to paragraph (b) of this Clause Fourth, the Pledgors will have the right to exercise
the voting rights and other rights and powers pertaining to the Pledged Equity Interests and
deal with the Pledged Equity Interests in any manner permitted by the Loan Documents;
provided, that no Pledgor shall at any time exercise, or refrain from exercising, such
rights in a manner which would affect adversely the validity and enforceability of the
security constituted hereby or cause an Event of Default. Subject to the terms of the Loan
Documents, the Pledgee and the Secured Parties shall be free and clear of any liability
arising from or in connection with the exercise or failure to exercise the voting rights
relating to the Pledged Equity Interests.
	 
	(b)	 	If an Event of Default has occurred and is continuing, all rights of the Pledgors to exercise
the voting and other rights and powers that the Pledgors are entitled to exercise pursuant to
the foregoing provisions of paragraph (a) of this Clause Fourth shall cease, and all such
rights shall thereupon be exercised by the Pledgee, who shall have the sole and exclusive
right and authority to exercise such voting and other rights and powers.

13

 

	(c)	 	Unless an Event of Default has occurred and is continuing, each Pledgor shall be entitled,
from time to time, to collect and receive for their own use all dividends, interest and other
distributions paid in respect of the Pledged Equity Interests as permitted by the Loan
Documents (the “Distributions”); provided, however, that until
actually paid, all rights to such distributions shall remain subject to the Security Interest
created by this Agreement. If an Event of Default has occurred and is continuing, all
Distributions thereafter paid in respect of the Pledged Equity Interests shall be applied by
the Pledgee towards the payment of the Secured Obligations in accordance with the Loan
Documents.
	 
	(d)	 	All Distributions (other than the Distributions that are permitted to be paid to the Pledgors
in accordance with paragraph (c) of this Clause Fourth), whenever paid or made, shall (i) be
delivered to the Pledgee to hold as part of the Pledged Equity Interests and shall, if
received by any Pledgor, be received in deposit for the benefit of the Pledgee, be segregated
from the other property or funds of such Pledgor, and be forthwith delivered to the Pledgee as
part of the Pledged Equity Interests in the same form as so received (with any necessary
endorsement); and (ii) be considered for all legal purposes as granted in pledge in accordance
with this Agreement, and shall be subject to the Security Interest and considered as an
integral part of the Pledged Equity Interests pursuant to this Agreement.
	 
	(e)	 	The rights of the Pledgee hereunder shall not be conditioned or contingent upon the exercise
by the Pledgee of any right or remedy against the Pledgors or any other Person which may be or
become liable in respect of all or any part of the Secured Obligations or against any
collateral security therefor, guarantee therefor or right of offset with respect thereto.
	 
	(f)	 	Subject to the terms of the Loan Documents, the Pledgee, its nominee(s) or any receiver or
delegate appointed pursuant to this Agreement, shall not be liable for any failure to demand,
collect or realize upon all or any part of the rights corresponding to the Pledged Equity
Interests or for any delay in doing so, nor shall the Pledgee be under any obligation to sell
or otherwise dispose of the Pledged Equity Interests upon the request of the Pledgors or any
other Person (except for the Secured Parties and in conformity with the Loan Documents), or to
take any other action whatsoever with regard to the Pledged Equity Interests or any part
thereof.

Fifth. Covenants of the Pledgors. So long as this Agreement is in effect, the Pledgors
covenant and agree to (a) not create, incur, assume, or permit to exist any Lien in favor of, or
any claim of any Person with respect to, any of the Pledged Equity Interests,

14

 

whether now held or hereafter subscribed, except for the Security Interest or as permitted under
the Loan Documents; (b) except to the extent permitted by the Loan Documents, not sell, transfer,
assign, pledge, deliver, transfer in trust, grant, usufruct or otherwise dispose of, or grant any
option with respect to, any such Pledged Equity Interests or any interest therein without the prior
written consent of the Pledgee; and (c) subject to the Agreed Security Principles, execute and
deliver to the Pledgee, for the benefit of the Secured Parties, such documents in favor of the
Pledgee and/or the Secured Parties, and do such things relating to the Security Interest as the
Pledgee may reasonably request in order to protect and maintain the Security Interest and to
protect and preserve the Pledgors’ and or the Pledgee’s title and interest in and to the Pledged
Equity Interests, and pay all reasonable costs arising from or in connection therewith.

Sixth. Safekeeping of the Pledged Equity Interests; Indemnity. The obligations of the
Pledgee with respect to the safekeeping and preservation of the Pledged Equity Interests shall be
limited to the obligations imposed by the Law. Unless otherwise expressly provided for in the Loan
Documents, any actions carried out by the Pledgee for the safekeeping and preservation of the
Pledged Equity Interests shall be at the sole expense and risk of the Pledgors.

Seventh. Events of Default. If an Event of Default has occurred and is continuing (a) all
rights of the Pledgors to exercise or refrain from exercising any voting and other rights which
they would otherwise be entitled to exercise pursuant to Clause Fourth hereof shall cease and be
exercised thereafter by the Pledgee, (b) the Pledgee shall have the right to keep any and all
Distributions in respect of the Pledged Equity Interests received or thereafter paid in respect of
the Pledged Equity Interests and apply them to the payment of the Secured Obligations; and (c) the
Pledgee shall have the right to foreclose upon the Pledged Equity Interests pursuant to the
provisions of Clause Eighth of this Agreement, and to exercise its rights in any other manner as
set forth in the Law.

Eighth. Foreclosure. If an Event of Default has occurred and is continuing:

	(a)	 	the Pledgee may foreclose upon the Security Interest and request the sale of the Pledged
Equity Interests, if any, pursuant to Article 341 of the Law, or exercise its rights in any
other manner as set forth in the Law, in order to seek payment of the Secured Obligations; and
	 
	(b)	 	the Pledgors shall take or shall cause each Issuer to take any and all actions and/or
initiate any and all proceedings that may be necessary or convenient, in the Pledgee’s sole
discretion (acting reasonably), to facilitate the execution and transfer of the Pledged Equity
Interests. The Pledgors further agree to do or cause to be done all such other acts as may be
necessary or convenient to

15

 

	 	 	expedite such sale or sales of all or any portion of the Pledged Equity Interests, and to
execute and deliver such documents and take such other action as the Pledgee (acting
reasonably) deems necessary or advisable so that such sale may be in compliance with
applicable law. The Pledgee shall apply all amounts received under this Agreement in
accordance with the First Lien Intercreditor Agreement. In the event of foreclosure and sale
of the Pledged Equity Interests in accordance with this Clause Eighth, the Pledgors hereby
expressly and irrevocably waive any rights of first offer, rights of first refusal, and any
other preemptive rights of any kind to which they may be entitled under the by-laws of each
Issuer and the Mexican General Law of Commercial Companies (Ley General de Sociedades
Mercantiles).

Ninth.- Capacity of Collateral Agent. The Pledgors hereby (i) expressly acknowledge that
the Pledgee has all necessary appointments, legal capacity and authority to act on behalf of the
Secured Parties for all matters arising from or relating to this Agreement; and (ii) expressly
waive their rights to carry out any action challenging the legal existence, appointments, legal or
other capacity and authority of the Pledgee to act on behalf of the Secured Parties. The rights,
duties, privileges, protections and benefits of the Pledgee as Collateral Agent set forth in the
First Lien Intercreditor Agreement are hereby incorporated herein by reference and made a part
hereof. Each of the Pledgors agrees that all acts to be executed by such Pledgor under this
Agreement shall be in accordance with the terms and conditions of the Intercreditor Arrangements.

Tenth. Power of Attorney. Each of the Pledgors, by way of security irrevocably appoints the
Pledgee and any receiver appointed by the Pledgee to be its attorney in fact, and in its name, on
its behalf and as its act and deed to execute, deliver and perfect all documents and do all things
which the attorney in fact may consider to be required or desirable for:

	 	(a)	 	carrying out any obligation imposed on a Pledgor by this Agreement or any
other agreement binding on that Pledgor to which the Pledgee is a party (including the
execution and delivery of any deeds, charges, assignments or other security and any
transfers of the Pledged Equity Interests);
	 
	 	(b)	 	enabling the Pledgee to exercise, or delegate the exercise of, all or any of
its rights over the Pledged Equity Interests; and
	 
	 	(c)	 	enabling any receiver appointed by Pledgee to exercise, or delegate the
exercise of, any of the rights, powers and authorities conferred on them by or pursuant
to this Agreement or by law,

	 	 	provided always that the Pledgee may only be entitled to exercise the powers conferred upon
it by each of the Pledgors under this Clause Tenth if:

16

 

	 	(i)	 	an Event of Default has occurred and is continuing; and/or
	 
	 	(ii)	 	the Pledgee has received notice from the Applicable Representative, the
Loan Parties’ Agent and/or any of the Pledgors that any of the Pledgors has failed to
comply with a further assurance or perfection obligation within 10 (ten) Business
Days of being notified of that failure (with a copy of that notice being sent to the
Loan Parties’ Agent),

	 	 	provided further that the Pledgee shall not be obliged to exercise the powers conferred upon
it by each of the Pledgors under this Clause Tenth unless and until it shall have been (a)
instructed to do so by the Applicable Representative and (b) indemnified and/or secured
and/or prefunded to its satisfaction.

For purposes of this Clause, each of the Pledgors shall grant a notarized irrevocable special power
of attorney, substantially in form of Exhibit “B” hereto, pursuant to the terms of article
2,596 of the Federal Civil Code and its correlatives for the other States of Mexico and the Federal
District, in order to allow the Pledgee to perform any and all acts referred to in this Clause
Tenth, with the authorities referred to in the first, second and third paragraph of article 2,554
of the Federal Civil Code and its correlative Articles of the Civil Codes of the States of the
United Mexican States and the Federal District and that includes the authority to delegate such
special power of attorney.

Eleventh.- Release and Termination. The Security Interest constituted by this Agreement
shall be released and cancelled:

	 	(a)	 	by the Pledgee (acting on the instruction of the Applicable Representative)
at the request and cost of each of the Pledgors, upon the Secured Obligations being
irrevocably paid or discharged in full and none of the Secured Parties being under
further actual or contingent obligation to make advances or provide other financial
accommodation to the Pledgors 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
Mexican law).

As soon as is reasonably practicable and (i) in respect of paragraph (a) above, following a written
request from the Pledgors, or (ii) in respect of paragraph (b) above, following receipt of a
written instruction from the Applicable Representative, the Pledgee shall deliver to the Pledgors a
termination notice (the “Termination Notice”) substantially in the form attached hereto as
Exhibit “C”, together with the stock

17

 

certificates representing the Pledged Shares and cancellation of the relevant endorsements. Only
upon delivery of the Termination Notice by the Pledgee to the Pledgors as herein contemplated, this
Agreement shall terminate and the Security Interest shall cease, terminate and be released.

Twelfth.- Delegation. The Pledgee, and any receiver appointed by Pledgee, 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 referred to in Clause Tenth
hereto) 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 Pledgee or any receiver hereto.

Thirteenth.- No Liability. None of the Pledgee, its nominee(s) or any receiver or delegate
appointed pursuant to this Agreement shall be liable by reason of (a) taking any action permitted
under this Agreement, (b) any neglect or default in connection with the Security Interest, or (c)
taking possession or realization of all or any part of the Pledged Equity Interests, except to the
extent provided in the Principal Finance Documents.

Fourteenth.- Indemnity. To the extent set out in Section 4.11 of the First Lien
Intercreditor Agreement, each of the Pledgors shall, notwithstanding any release or discharge of
all or any part of the Security Interest, indemnify the Pledgee, its agents, its attorneys, any
delegate and any receiver against any action, proceeding, claims, losses, liabilities, expenses,
demands, taxes and costs which it may sustain as a consequence of any breach by each of the
Pledgors 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 Security
Interest.

Fifteenth.- Assignments. Unless otherwise permitted under the Loan Documents, the rights
and obligations arising from this Agreement may not be assigned or transferred by any Pledgor to
any third party without the prior written consent of the Pledgee. The Pledgee may assign, in whole
or in part, its rights hereunder by written notice to the Pledgors, without requiring the consent
of the Pledgors to perform such assignment or transfer, in accordance with the Loan Documents.

Sixteenth.- Amendments. This Agreement may only be amended or modified with the prior
written consent of the Pledgors and the Pledgee.

Seventeenth.- Notices. Each notice or other communication to be given or made by a party in
connection with this Agreement shall be given or made in accordance with the provisions of the
First Lien Intercreditor Agreement, provided that with respect to

18

 

any notice to be given or made pursuant to or under a Mexican judicial procedure, each Pledgor
designates the following address:

Grupo CSI de Mexico, 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

Indiana 435

Fracc. Industrial Valle de Saltillo

25217, Saltillo, Coahuila, México

Attention: General Manager

with a copy (which shall not constitute notice) to:

Rank Group Limited

Level 9, 148 Quay St., Auckland, 1140, New Zealand

Attention: Helen Golding

Telephone: +64 (0) 9366 6259

Fax No. +64 (0) 9366 6263

Eighteenth.- Exhibits and Captions. All documents attached hereto or to which reference is
made herein are hereby incorporated by reference into, and shall be deemed a part of, this
Agreement. The captions and headings contained in this Agreement are for convenience only and shall
not affect the interpretation of this Agreement.

Nineteenth.- Further Assurances. Subject to the Agreed Security Principles, the Pledgors,
at the Pledgee’s request, agree to promptly execute or cause to be executed and deliver to the
Pledgee any and all documents, instruments and agreements, in connection with this Agreement,
deemed necessary by the Pledgee (acting on the instructions of the Applicable Representative) to
give effect to or carry out the terms or intent of this Agreement.

Twentieth.- 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, with respect to any action or proceeding arising out of or relating
hereto, and the parties hereby expressly and irrevocably waive all rights to any other jurisdiction
to which they may be entitled to by reason of their present or future domiciles, or by any other
reason.

19

 

Twenty First.- 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.

Twenty Second.- 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.

[Signature pages continue]

20

 

IN WITNESS WHEREOF, the parties hereto execute this Agreement, on this 29th day of
January, 2010.

The Pledgors:

	 	 	 	 	 	 	 

	Closure Systems International B.V.
 	 	Grupo CSI de México, S. de R.L. de C.V.
	 
	 	 	 	 	 	 
	By:

	 	/s/ PHILIP WEST
	 	By:
	 	/s/ PHILIP WEST
	 

	 	 
	 	 	 	 
	 	 	Name: PHILIP WEST	 	 	 	Name: PHILIP WEST
	 	 	Title:	 	 	 	Title:
	 
	 	 	 	 	 	 
	CSI Mexico LLC
 	 	CSI en Saltillo, S. de R.L. de C.V.
	 
	 	 	 	 	 	 
	By:

	 	/s/ HELEN GOLDING
	 	By:
	 	/s/ PHILIP WEST
	 

	 	 
	 	 	 	 
	 	 	Name: HELEN GOLDING	 	 	 	Name: PHILIP WEST
	 	 	Title:	 	 	 	Title:

	 	 	 	 	 
	 	Closure Systems Mexico Holdings LLC

 	 
	 	By:  	/s/ HELEN GOLDING
 	 
	 	 	Name:  	HELEN GOLDING 	 
	 	 	Title:  	 	 
	 

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/ HERNANDO BECERRA
 	 	 
	Name:  	HERNANDO BECERRA 	 	 
	Title:  	ATTORNEY IN FACT 	 	 

21

 

	 	 	 	 	 

With the acknowledgment of:

	 	 	 	 	 	 	 

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

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

	 
	 	 	 	 	 	 
	By:

	 	/s/ PHILIP WEST
	 	By:
	 	/s/ PHILIP WEST
	 

	 	 
	 	 
	 	 
	

	 	Name: PHILIP WEST
	 	 
	 	Name: PHILIP WEST
	

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

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

	 
	 	 	 	 	 	 
	By:

	 	/s/ PHILIP WEST
	 	By:
	 	/s/ PHILIP WEST
	 

	 	 
	 	 
	 	 
	

	 	Name: PHILIP WEST
	 	 
	 	Name: PHILIP WEST
	 

	 	Title:
	 	 
	 	Title:

22

 

Exhibit “A”

Equity Interests Pledge Agreement

Copy of First Lien Intercreditor Agreement

and Amendment

23

 

Exhibit “B”

Equity Interests Pledge Agreement

Form of Power of Attorney

	 	 	 
	PODER ESPECIAL	 	SPECIAL POWER OF ATTORNEY
	 
	 	 
	En la
Ciudad de ___________, el
___ de ___________ de 2010, ante mi
____________, Notario Público,
compareció ___________ en su
carácter de ___________ de
_____________, (la “Sociedad”)
una sociedad debidamente
constituida y existente de
conformidad con las leyes de
____________, con su domicilio en
__________________________, y expuso:

	 	In the City of __________, on
____________, 2010, before me ____________
Notary Public, appeared
___________, in his capacity as ____________
of ___________________
(the
“Corporation”) a corporation organized
and existing pursuant to the laws of
_____________, and having its
principal offices in ____________________
and declared:
	 
	 	 
	Que en nombre y representación de
la Sociedad y de conformidad con
los poderes que le confiere la
Sociedad, por medio del presente otorga como garantía:

	 	That in the name and on behalf of the
Corporation and in accordance with the
powers conferred by the Corporation,
hereby grants by way of security:
	 
	 	 
	1. Un PODER ESPECIAL en cuanto a
su objeto pero general en cuanto
a las facultades otorgadas, con
facultades de delegación, a favor
de The Bank of New York Mellon
(el “Acreedor Prendario”),
actuando únicamente en su
carácter de Agente de Garantías
(Collateral Agent), en
representación y para el
beneficio de las Partes
Garantizadas (Secured Parties) y
cualquier delegado designado por
el Acreedor Prendario, para que,
en nombre y representación de la
Sociedad, puedan,
individualmente, celebrar, firmar
y perfeccionar cualquier
documento y llevar a cabo
cualesquiera actuaciones que el
apoderado considere necesarias o
deseables, en relación con el
Contrato de Prenda sobre Acciones
y Partes Sociales celebrado entre
Grupo CSI de México, S. de R.L.
de C.V., Closure Systems
International

	 	1. A SPECIAL POWER-OF-ATTORNEY deemed
as special in regards to its purpose
but as general in regards to the
powers granted, with authority to
delegate such power, in favor of The
Bank of New York Mellon (the
“Pledgee”), acting solely in its
capacity as Collateral Agent, on
behalf and for the benefit of the
Secured Parties and any receiver
appointed by the Pledgee, so that in
the name and on behalf of the
Corporation they may, severally,
execute, deliver and perfect all
documents and do all things which the
attorney in fact may consider to be
required or desirable, in connection
with the Equity Interests Pledge
Agreement (Contrato de Prenda sobre
Acciones y Partes Sociales) entered
into, 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 

24

 

	 	 	 
	 
	B.V., CSI Mexico LLC, CSI en Saltillo, S. de R.L.
de C.V., Closure Systems Mexico
Holdings LLC, como deudores
prendarios, y el Acreedor
Prendario, actuando únicamente en
su carácter de Agente de
Garantías (Collateral Agent), en
representación y para el
beneficio de las Partes
Garantizadas (Secured Parties),
como acreedor prendario, con el
reconocimiento de Bienes
Industriales del Norte, S.A. de C.V., Técnicos de Tapas
Innovativas, S.A. de C.V., CSI
Tecniservicio, S. de R.L. de
C.V., y CSI en Ensenada, S. de
R.L. de C.V., (según dicho
Contrato de Prenda sobre Acciones
y Partes Sociales haya sido o sea
modificado, suplementado o
modificado y reexpresado de
tiempo en tiempo, en lo sucesivo,
el “Contrato de Prenda”), para:

	 	R.L. de
C.V., Closure Systems Mexico Holdings
LLC, as pledgors, and the Pledgee,
acting solely in its capacity as Collateral Agent on behalf and for the
benefit of the Secured Parties, as
pledgee, with the acknowledgment of
Bienes Industriales del Norte, S.A. de
C.V., Técnicos de Tapas Innovativas,
S.A. de C.V., CSI Tecniservicio, S. de
R.L. de C.V., and CSI en Ensenada, S.
de R.L. de C.V. (as such Equity
Interest Pledge Agreement may be
amended, supplemented, modified or
amended and restated from time to
time, hereinafter, the “Pledge
Agreement”), for:
	 
	 	 
	(a) llevar a cabo cualquier acto
para cumplir con cualquier
obligación impuesta a la Sociedad
mediante el Contrato de Prenda o
cualquier otro contrato que
obligue a la Sociedad y del cual
sea parte el Acreedor Prendario
(incluyendo la celebración y
entrega de cualesquier actos,
gravámenes, cesiones u otra
garantía y cualesquier
transmisiones de las Acciones y
Partes Sociales Pignoradas (según
dicho término se define en el
Contrato de Prenda));

	 	(a) carrying out any obligation
imposed on the Corporation by the
Pledge Agreement or any other
agreement binding on the Corporation
to which the Pledgee is a party
(including the execution and delivery
of any deeds, charges, assignments or
other security and any transfers of
the Pledged Equity Interests (as such
term is defined in the Pledge
Agreement));
	 
	(b) permitir al Acreedor
Prendario para que ejerza, o
delegue el ejercicio de, todos y
o cualquiera de sus derechos
sobre las Acciones y Partes
Sociales Pignoradas; y

	 	(b) enabling the Pledgee to exercise,
or delegate the exercise of, all or
any of its rights over the Pledged
Equity Interests; and
	 
	 	 
	(c) permitir a cualquier delegado
designado por el Acreedor
Prendario para que ejerza, o
delegue el ejercicio de,
cualquier de los derechos,
poderes y facultades conferidos
sobre los mismos por o conforme
al Contrato de Prenda o por ley;

	 	(c) enabling any receiver appointed by
Pledgee to exercise, or delegate the
exercise of, any of the rights, powers
and authorities conferred on them by
or pursuant to the Pledge Agreement or
by law;

25

 

	 	 	 
	 
	 	 
	en el entendido en todo momento
que el Acreedor Prendario
únicamente tendrá el derecho de
ejercer los poderes que le han
sido conferidos por este poder
(incluyendo los mencionados
abajo) si: un Caso de
Incumplimiento ha ocurrido y
continúa; y/o el Acreedor
Prendario ha recibido una
notificación del Representante
Aplicable, el Agente de las
Partes del Crédito y/o de la
Sociedad de que la Sociedad ha
incumplido con cualquier
obligación (incluyendo
obligaciones de
perfeccionamiento) dentro de los
10 (diez) Días Hábiles de que se
le haya notificado de dicho
incumplimiento (con copia de
dicha notificación entregada al
Agente de las Partes del
Crédito), en el entendido además
que el Acreedor Prendario no
tendrá la obligación de ejercer
los poderes que le han sido
conferidos por la Sociedad
conforme al presente poder
(incluyendo los mencionados
abajo), salvo y hasta que se le
haya (i) instruido a ejercerlos
por el Representante Aplicable, e
(ii) indemnizado y/o garantizado
y/o pre-fondeado a su
satisfacción.

	 	provided always that the Pledgee may
only be entitled to exercise the
powers conferred upon it by this Power
of Attorney (including those below)
if: an Event of Default has occurred
and is continuing; and/or the Pledgee
has received notice from the
Applicable Representative, the Loan
Parties’ Agent and/or the Corporation
that the Corporation has failed to
comply with a further assurance or
perfection obligation within ten
Business Days of being notified of
that failure (with a copy of that
notice being sent to the Loan Party’s
Agent), provided further that the
Pledgee shall not be obliged to
exercise the powers conferred upon it
by the Corporation under this Power
(including those below) unless and
until it shall have been (a)
instructed to do so by the Applicable
Representative and (b) indemnified
and/or secured and/or prefunded to its
satisfaction.
	 
	 	 
	Para poder llevar a cabo los
actos mencionados en los incisos
anteriores, y sin perjuicio de la
especialidad de los facultades
otorgadas, los apoderados
contarán con:

	 	In order to carry out the acts
referred to in the preceding sections,
and notwithstanding the special nature
of the powers granted, the
attorneys-in-fact are hereby granted
with:
	 
	 	 
	(i) Poder para pleitos y
cobranzas, actos de
administración y actos de dominio
en los términos del primer,
segundo y tercer párrafos del
artículo dos mil quinientos
cincuenta y cuatro del Código Civil Federal

	 	(i) A power of attorney for lawsuits
and collections, acts of
administration and acts of ownership
in terms of the first, second and
third paragraphs of Article two
thousand five hundred and fifty four
of

26

 

	 	 	 
	 
	 	 
	 
	y sus correlativos
contenidos en los Códigos Civiles
de los demás estados de los
Estados Unidos Mexicanos y el
Distrito Federal; y

	 	the Federal Civil Code and its
correlative Articles of the Civil
Codes of the remaining States of the
United Mexican States and the Federal
District; and
	 
	(ii) poder especial para
suscribir y endosar títulos de
crédito en los términos del
artículo 9o de la Ley General de
Títulos y Operaciones de Crédito.

	 	(ii) a special power of attorney to
subscribe and endorse negotiable
instruments in accordance with article
9 of the General Law of Negotiable
Instruments and Credit Operations.
	 
	 	 
	El presente poder es irrevocable
en los términos de artículo 2596
(dos mil quinientos noventa y
seis) del Código Civil Federal y
sus artículos correlativos en los
Códigos Civiles de los demás
Estados de la República, por
haberse otorgado como una
condición en un contrato
bilateral y como un medio para el
cumplimiento de sus obligaciones
conforme al Contrato de Prenda.

	 	The special power of attorney granted
hereby is irrevocable pursuant to the
terms of article 2,596 of the Federal
Civil Code its correlative Articles of
the Civil Codes of the States of the
United Mexican States and the Federal
District, it being a condition of a
bilateral agreement and a mean to
comply with its obligations under the
Pledge Agreement.
	 
	 	 
	Para efectos del párrafo quinto
del Artículo 2554 del Código
Civil Federal, el mismo se transcribe a continuación:

	 	For purposes of paragraph fifth of
Article 2554 of the Federal Civil
Code, a transcription thereof follows:
	
	 	 
	“Artículo 2554. En todos los
poderes generales para pleitos y
cobranzas bastará que se diga que
se otorga con todas las
facultades generales y las
especiales que requieran cláusula
especial conforme a la ley para
que se entiendan conferidos sin
limitación alguna.

	 	“Article 2554. In all general powers
of attorney for lawsuits and
collections it shall be sufficient to
say that they are granted with all the
general powers and with the special
powers requiring special clause in
accordance with the law in order that
they may be considered as granted
without any limitation.
	 
	 	 
	En los poderes generales para
administrar bienes, bastará
expresar que se dan con este
carácter para que el apoderado
tenga toda clase de facultades
administrativas.

	 	In general powers of attorney to
administer property, it shall be
sufficient to state that they are
given with that character, in order
that the attorneys-in-fact may have
all kinds of administrative powers.

27

 

	 	 	 
	 
	 	 
	 
	 	 
	En los poderes generales, para
ejercer actos de dominio, bastará
que se den con ese carácter para
que el apoderado tenga todas las
facultades de dueño, tanto en lo
relativo a los bienes, como para
hacer toda clase de gestiones, a
fin de defenderlos.

	 	In general powers of attorney to
exercise acts of ownership, it shall
be sufficient that they be given with
that character, in order that the
attorneys-in-fact may have all the
powers of an owner, both with respect
to the property, and to take all
actions to defend it.

	 
	 	 
	Cuando se quisieren limitar, en
los tres casos antes mencionados,
las facultades de los apoderados,
se consignarán las limitaciones,
o los poderes serán especiales.

	 	If in any of the aforesaid three cases
it should be desired to limit the
authority of the attorneys-in-fact,
the limitation shall be set out, or
the powers of the attorneys-in-fact
shall be special powers of attorney.
	 
	 	 
	Los Notarios insertarán este
Artículo en los testimonios de
los poderes que otorguen.”

	 	Notaries shall insert this Article in
the instruments of powers of attorney
which they execute.”
	 
	 	 
	Salvo que un término se encuentre
definido en este poder o el
contexto lo requiera de otra
forma, un término definido en el
Contrato de Prenda y/o el
Convenio entre Acreedores (como
dicho término se define en el
Contrato de Prenda) tiene el
mismo significado en este poder.

	 	Unless defined in this power of
attorney or the context otherwise
requires, a term defined in the Pledge
Agreement and/or the First Lien
Intercreditor Agreement (as defined in
the Pledge Agreement) has the same
meaning in this Power of Attorney.
	 
	 	 
	 

	 	 

	Nombre: [                    ]

	 	Name: [                    ]
	Cargo:

	 	Title:

(NOTE: The signature of the Notary Public must be certified by the relevant officer of; the
power of attorney must bear an apostille issued in accordance with The Hague Convention of 1961.)

28

 

Exhibit “C”

Equity Interests Pledge Agreement

Form of Termination Notice

[Date]

Grupo CSI de Mexico, 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

[                    ]

[                    ]

[                    ]

     This Termination Notice is delivered pursuant to Clause Eleventh of the Equity Interests
Pledge Agreement dated January 29th, 2010 (the “Pledge Agreement”), entered into
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., and Closure Systems Mexico Holdings LLC, as
pledgors, and The Bank of New York Mellon, on behalf and for the benefit of the Secured Parties, as
pledgee, with the acknowledgment of Bienes Industriales del Norte, S.A. de C.V., Técnicos de Tapas
Innovativas, S.A. de C.V., CSI Tecniservicio, S. de R.L. de C.V., and CSI en Ensenada, S. de R.L.
de C.V. Capitalized terms used and not otherwise defined herein, shall have the meaning ascribed to
such terms in the Pledge Agreement.

     By means of this Termination Notice the undersigned, acting as Pledgee under the Pledge
Agreement, hereby certifies that the Pledge Agreement is terminated and the Security Interest
created thereby is hereby released.

Sincerely,

	 	 	 	 	 
	The Bank of New York Mellon

 	 	 
	By:  	 	 	 
	 	Name:  	[                    ] 	 	 
	 	Title:  	Attorney-in-Fact 	 	 
	 

29

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}]]