Document:

exv4w297

EXHIBIT 4.297

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

This Acknowledgment Agreement (Convenio de Reconocimiento) is entered into on this 16 day of
November, 2010 (the “Agreement”), by and among CSI en Saltillo, S. de R.L. de C.V., as
trustor under the Trust Agreement; and The Bank of New York Mellon, acting solely in its capacity
as Collateral Agent on behalf and for the benefit of the Secured Parties, as appointed under the
First Lien Intercreditor Agreement, as first place beneficiary under the Trust Agreement, in
accordance with the following Recitals, Representations and Warranties and Clauses. Terms used in
this Agreement and not otherwise defined herein shall have the meaning set forth in the Trust
Agreement (as defined below).

Recitals

     I. Trust Agreement. On January 29, 2010 the Trustor, the Beneficiary and the Trustee
entered into the Irrevocable Security Trust Agreement with Reversion Rights No. F/00737 (as
amended, extended, restructured, renewed, novated, supplemented, restated, refunded, replaced or
modified from time to time, the “Trust Agreement”). A copy of the Trust Agreement together
with an acknowledgement agreement dated May 4, 2010 relating to the Trust Agreement is attached
hereto as Exhibit “A”.

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

     III. 2010 Secured Notes Indenture. On October 15, 2010, RGHL US Escrow I LLC, RGHL US
Escrow I Inc. and RGHL Escrow Issuer (Luxembourg) I S.A. (the “Escrow Issuers”) and The
Bank of New York Mellon, as trustee, principal paying agent, transfer agent, registrar and
collateral agent and Wilmington Trust

 

 

(London) Limited as additional collateral agent, entered into an indenture (the “2010
Secured Notes Indenture”) pursuant to which certain secured notes (the “2010 Secured
Notes”) were issued by the Escrow Issuers. On or about the date hereof the 2010 Secured Notes
shall be released from escrow and the obligations of the Escrow Issuers shall be assumed by
Reynolds Group Issuer LLC, Reynolds Group Issuer Inc. and Reynolds Group Issuer (Luxembourg) S.A,
as applicable.

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

Representations and Warranties

	I.	 	The Trustor hereby represents and warrants, through its legal representative, that
on the date hereof:

	 	(a)	 	the individual executing this Agreement in the name and on behalf of the
Trustor 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 the Trustor under the terms herein, as evidenced
in public deed number 32,566, dated September 23, 2010, granted before Mr. Jose Luis
Villavicencio Castañeda, Notary Public number 218 for Mexico City, and that such
powers, authority and corporate or other authorizations have not been revoked,
modified or limited in any manner.

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

Clauses

First.- Acknowledgment. The Trustor (a) confirms and agrees that the Trust Agreement and
the transfer of the Trust Estate in favor of the Trustee for the Purposes of the Trust continue to
be in full force and effect subject to the Legal Reservations (as such term is defined in the
Credit Agreement), and (b) acknowledges and agrees that (i) the Incremental Assumption Agreement
constitutes a Loan Document, and (ii) the obligations of the Loan Parties under the Incremental
Assumption Agreement and any obligations that are “Additional Obligations” as a result of the
Secured Notes Designation, in each case, constitute Secured Obligations under the Trust Agreement.

Second.- No Novation. The parties hereby expressly agree that this Agreement shall not
extinguish the obligations for the payment of money outstanding under

-2-

 

any Loan Document or discharge or release the priority of any Loan Document or any other security
therefor. Nothing herein shall be construed as a substitution or novation of the Secured
Obligations, which shall remain in full force and effect. Nothing in or implied by this Agreement
or in any other document contemplated hereby shall be construed as a release or other discharge of
any Secured Obligation. The Trust Agreement shall remain in full force and effect notwithstanding
the execution and delivery of this Agreement.

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

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

Fourth.- Jurisdiction, Governing Law. For all matters relating to the interpretation and
fulfillment of this Agreement, the parties hereto expressly and irrevocably submit to the
applicable laws of Mexico, and to the jurisdiction of the competent courts sitting in Mexico,
Federal District, Mexico, and the parties hereby expressly and irrevocably waive their rights to
any other jurisdiction to which they may be entitled to by reason of their present or any future
domiciles, or for any other reason.

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

[Signature page continues]

-3-

 

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

The Trustor:

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

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

The Beneficiary:

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

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

-4-

 

	 	 	 	 	 

Exhibit “A”

Acknowledgement Agreement

Copy of Trust Agreement and

Acknowledgement Agreement

[Attached hereto]

-5-exv4w298

EXHIBIT 4.298

Confirmation and Amendment Agreement

dated 16 November 2010

between

BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) III Sàrl

SIG COMBIBLOC GROUP AG

SIG ALLCAP AG

SIG COMBIBLOC (SCHWEIZ) AG

SIG SCHWEIZERISCHE INDUSTRIE-GESELLSCHAFT AG

SIG TECHNOLOGY AG

SIG COMBIBLOC PROCUREMENT AG

SIG REINAG AG

(collectively the “Confirming Grantors”)

and

THE BANK OF NEW YORK MELLON

acting as Collateral Agent under the First Lien Intercreditor Agreement (as defined below) for

itself and for the benefit and for the account of the Secured Parties

(the “Collateral Agent”)

relating to

the Swiss law security documents as listed and described in Schedule 1 hereto respectively
entered into by the Confirming Grantors and the Collateral Agent acting for itself and for the
benefit and for the account of the Secured Parties in connection with the Loan Documents.

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.

BOREL & BARBEY

Geneva

 

 

			
	Confirmation and Amendment Agreement
	 	2/17

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.

BOREL & BARBEY

Geneva

 

 

			
	Confirmation and Amendment Agreement
	 	3/17

THIS CONFIRMATION AND AMENDMENT AGREEMENT is entered into as of the date set forth on the front
page and shall be contingent upon the Merger Effectiveness (as defined in recital L below) BETWEEN:

	(1)	 	Beverage Packaging Holdings (Luxembourg) III Sàrl, a private limited liability company
(société à responsabilité limitée) incorporated under the laws of Luxembourg and having its
registered office at 6C, Parc d’Activités Syrdall, L-5365 Munsbach, Grand Duchy of Luxembourg,
registered in the Luxembourg register of commerce and companies under file number B 128135,
having a share capital of EUR 404,969,325;
	 
	(2)	 	SIG Combibloc Group AG, a company limited by shares incorporated under the laws of
Switzerland, having its registered office at Laufengasse 18, 8212 Neuhausen am Rheinfall,
Switzerland and registered in the Commercial Register of the Canton of Schaffhausen with the
federal register number CH-290.3.004.149-2;
	 
	(3)	 	SIG allCap AG, a company limited by shares incorporated under the laws of Switzerland, having
its registered office at Industrieplatz, 8212 Neuhausen am Rheinfall, Switzerland and
registered in the Commercial Register of the Canton of Schaffhausen with the federal register
number CH-290.3.013.656-7;
	 
	(4)	 	SIG Combibloc (Schweiz) AG, a company limited by shares incorporated under the laws of
Switzerland, having its registered office at Laufengasse 18, 8212 Neuhausen am Rheinfall,
Switzerland and registered in the Commercial Register of the Canton of Schaffhausen with the
federal register number CH-020.3.021.306-8;
	 
	(5)	 	SIG Schweizerische Industrie-Gesellschaft AG, a company limited by shares incorporated under
the laws of Switzerland, having its registered office at Industrieplatz, 8212 Neuhausen am
Rheinfall, Switzerland and registered in the Commercial Register of the Canton of Schaffhausen
with the federal register number CH-290.3.004.148-4;
	 
	(6)	 	SIG Technology AG, a company limited by shares incorporated under the laws of Switzerland,
having its registered office at Laufengasse 18, 8212 Neuhausen am Rheinfall, Switzerland and
registered in the Commercial Register of the Canton of Schaffhausen with the federal register
number CH-160.3.002.649-1;
	 
	(7)	 	SIG Combibloc Procurement AG, a company limited by shares incorporated under the laws of
Switzerland, having its registered office at Laufengasse 18, 8212 Neuhausen am Rheinfall,
Switzerland and registered in the Commercial Register of the Canton of Schaffhausen with the
federal register number CH-290.3.016.591-1;
	 
	(8)	 	SIG Reinag AG, a company limited by shares incorporated under the laws of Switzerland, having
its registered office at Laufengasse 18, 8212 Neuhausen am Rheinfall, Switzerland and
registered in the Commercial Register of the Canton of Schaffhausen with the federal register
number CH-290.3.003.796-7;

 

 

			
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	 	 	(the entities under 1 to 8 collectively, the “Confirming Grantors”; the entities under 2 to
8, collectively, the “Swiss Confirming Grantors”), on the one part;
	 
	 	 	and
	 
	(9)	 	The Bank of New York Mellon, having its business address at 1, Wall Street, New York, N.Y.
10286, The United States of America, acting under the First Lien Intercreditor Agreement (as
defined below) as Collateral Agent for itself and for the benefit and for the account of the
Secured Parties (as defined in the applicable Security Documents) (the “Collateral Agent”), on
the other part.

RECITALS

	(A)	 	Pursuant to a credit agreement dated November 5, 2009 made between inter alia Reynolds
Group Holdings Inc. (“RGHI”), Reynolds Consumer Products Holdings Inc.,
SIG Euro Holding AG & Co. KG aA, Closure Systems International Holdings Inc., Closure Systems
International B.V. and SIG Austria Holding GmbH as borrowers (“the
Borrowers”), Reynolds Group Holdings Limited, certain Confirming Grantors as current
guarantors, the lenders from time to time party thereto, and Credit Suisse AG, Cayman Islands
Branch (formerly known as Credit Suisse, Cayman Islands Branch), as administrative agent (the
“Administrative Agent”), as amended by Amendment No. 1 dated as of January 21, 2010 and as
further amended by Amendment No. 2 (the “Amendment No. 2”) dated as of May 4, 2010 (the
“Credit Agreement”) certain facilities were made available to the Borrowers on the terms and
conditions thereof.
	 
	(B)	 	Pursuant to a senior secured note indenture dated November 5, 2009 (the “Senior Secured Note
Indenture”) as supplemented by various supplemental indentures entered into on or before the
date of this Agreement among inter alia Reynolds Group Issuer (Luxembourg) S.A., Reynolds
Group Issuer LLC and Reynolds Group Issuer Inc. (collectively, the “Issuers”), the Note
Guarantors (as defined therein) and The Bank of New York Mellon, as trustee (the “Trustee”)
certain senior secured notes due 2016 were issued to certain noteholders on the terms and
conditions thereof.
	 
	(C)	 	Pursuant to a first lien intercreditor agreement dated November 5, 2009 among The Bank of New
York Mellon as collateral agent and as trustee, the Administrative Agent and the Confirming
Grantors, as amended by Amendment No. 1 dated as of January 21, 2010 (which added Wilmington
Trust (London) Limited as a collateral agent under the first lien intercreditor agreement)
(the “First Lien Intercreditor Agreement”), The Bank of New York Mellon and, later, Wilmington
Trust (London) Limited were

 

 

			
	 
	 	5/17

	 	 	appointed each as a Collateral Agent (as defined therein) with regard to, among other things,
the acquisition, holding and enforcement of Liens on Collateral (both as defined in therein).
	 
	(D)	 	The Credit Agreement, the Senior Secured Notes Indenture and the First Lien Intercreditor
Agreement were supplemented several times by means of guarantor joinders to the Credit
Agreement (which also provide for the accession to the First Lien Intercreditor Agreement) and
supplemental indentures (see also recital (B)) to the Senior Secured Note Indenture, executed
by SIG Combibloc Procurement AG, SIG Reinag AG and SIG Combibloc GmbH & Co KG.
	 
	(E)	 	Pursuant to the Principal Finance Documents, the parties hereto (and, as applicable, SIG
Finanz AG (see recital H) below) respectively have entered into the Swiss law security
documents as listed and described in Schedule 1 hereto (the
“Security Documents”) over certain assets respectively owned by the Confirming Grantors in
order to secure the performance of the Secured Obligations.
	 
	(F)	 	RGHI, the Borrowers, the Guarantors from time to time party thereto (as defined therein), the
Lenders from time to time party thereto, the Incremental U.S. Term Lenders (as defined
therein), the other Lenders party thereto and the Administrative Agent, among others, have
entered into the Amendment No. 2, relating to the Credit Agreement and pursuant to which (i)
the Credit Agreement has been amended to inter alia increase the incremental term facilities
from an amount of USD 400,000,000 to an amount of USD 1,550,000,000 and (ii) certain
incremental term lenders have agreed to make available incremental term loans in an amount of
USD 800,000,000 to the Borrowers.
	 
	(G)	 	The Confirming Grantors (and SIG Finanz AG) have entered into a Swiss law-governed
confirmation and amendment agreement dated May 4, 2010 pursuant to which, among others
provisions, each of the Confirming Grantors (and SIG Finanz AG) has confirmed that the
obligations of the Credit Agreement as amended under Amendment No. 2 are also secured by the
security interest created by the Security Documents to which it is a party.
	 
	(H)	 	Pursuant to a Swiss statutory merger between SIG Combibloc Group AG and SIG Finanz AG which
became effective as of June 15, 2010 (the “Swiss Merger”), all of the rights and
obligations of SIG Finanz AG have been assumed by, and transferred to, SIG Combibloc Goup AG
by operation of law. Therefore, all confirmations and

 

 

			
	 
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	 	 	amendments under this Agreement in respect of Security Documents originally entered into by
SIG Finanz AG shall be given by SIG Combibloc Group AG, but for (i) the non-accessory Swiss
receivable assignment agreement and Swiss bank account assignment agreement to which SIG
Finanz AG was a party and which terminated due to the combination of the receivables / bank
accounts of SIG Combibloc Group AG with the receivables / bank accounts of the former SIG
Finanz AG and (ii) the accessory Swiss share pledge over the shares of SIG Finanz AG to which
SIG Combibloc Group was a party and which terminated due to the cancellation of the shares of
SIG Finanz AG, as detailed, inter alia, in Schedule 1 hereto.
	 
	(I)	 	RGHI, the Borrowers, the Guarantors from time to time party thereto (as defined therein), the
Lenders from time to time party thereto and the Administrative Agent, among others, have
entered into an amendment No. 3 and incremental term loan assumption agreement, (the
“Incremental Assumption Agreement”) dated September 30, 2010, relating to the Credit Agreement
and pursuant to which the Credit Agreement has been amended to, inter alia, add an incremental
tranche A facility of up to USD 500,000,000 and an incremental tranche D facility of up to USD
1,520,000,000 (the “Amended Credit Agreement”).
	 
	(J)	 	Pursuant to a senior secured notes indenture dated October 15, 2010 (the “2010 Senior Secured
Notes Indenture”) entered into among inter alia RGHL US Escrow I Inc., RGHL US Escrow I LLC
and RGHL Escrow Issuer (Luxembourg) I S.A. (collectively, the “ Escrow Issuers”) and The Bank
of New York Mellon (the “Trustee”), as trustee, principal paying agent, registrar and
collateral agent and Wilmington Trust (London) Limited as additional collateral agent, certain
senior secured notes due 2019 (the “2010 Senior Secured Notes”) were issued by the Escrow
Issuers to certain noteholders on the terms and conditions thereof.
	 
	(K)	 	On the date on which the Merger Effectiveness occurs, the 2010 Senior Secured Notes Indenture
and any Senior Secured Note Documents (as defined in the 2010 Senior Secured Notes Indenture)
will each be an “Additional Agreement” under the First Lien Intercreditor Agreement as a
result of the designation of the obligations with respect of the 2010 Senior Secured Note
Indenture and any Senior Secured Note Documents (as defined in the 2010 Senior Secured Notes
Indenture) as “Additional Obligations” under Section 5.02 (c) of the First Lien Intercreditor
Agreement (the “Senior Secured Notes Designation”). Each of the Swiss Confirming Grantors has
consented to the Senior Secured Notes Designation in writing in its resolution of the board of
directors approving — inter alia — this Agreement.

 

 

			
	 
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	 	 	In this respect, it should be noted that the definition of “Loan Documents” in each Security
Document (which is defined to include the “Credit Documents” under, and as defined in, the
First Lien Intercreditor Agreement) extends to any “Additional Agreement” (as defined in the
First Lien Intercreditor Agreement).
	 
	(L)	 	To effect the release of the 2010 Senior Secured Notes from escrow the Escrow Issuers have,
or will, merge with, or otherwise transfer all of their assets and liabilities to, the
Issuers and the consummated merger or transfer has, or will, result in (i) the obligations of
the Escrow Issuers being assumed by the Issuers and (ii) the obligations as co-issuer with
respect of the 2010 Senior Secured Notes constituting legal, valid and binding obligations of
the Issuers only and enforceable against such Issuers in accordance with its terms (the
occurrence of the merger being the “Merger Effectiveness”).
	 
	(M)	 	The Confirming Grantors, among others, have entered into a New York law-governed
reaffirmation agreement dated as of the date hereof in respect of the non-Swiss law security
to which each Confirming Grantor is a party and the guarantee of the Credit Agreement by each
Confirming Grantor and pursuant to which, among others provisions, each of the Confirming
Grantors has (i) ratified and confirmed the Incremental Assumption Agreement, (ii) confirmed
and re-affirmed its respective guarantee of the obligations as provided in the Amended Credit
Agreement and (iii) confirmed and reaffirmed that its respective non-Swiss law security
extends to the Amended Credit Agreement and the Additional Obligations as a result of the
Senior Secured Notes Designation.
	 
	(N)	 	The Confirming Grantors and the Collateral Agent (acting for itself and for the benefit
and for the account of the Secured Parties) (collectively, the “Parties”) have
agreed to enter into this Agreement in order to ensure that the Security Documents continue to
secure the Secured Obligations and extend to all obligations of the Confirming Grantors (i)
under the Amended Credit Agreement and (ii) in connection with the Senior Secured Notes
Designation.

NOW IT IS HEREBY AGREED as follows:

 

 

			
	 
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	1.	 	DEFINITIONS AND CONSTRUCTION
	 
	(a)	 	Unless defined otherwise herein, capitalized terms and expressions used herein shall have
the meaning ascribed to them in the Security Documents.
	 
	 	 	The parties agree that in each Security Document:
	 
	 	 	“Agreed Security Principles” shall be amended to also mean any “ Agreed Security Principles”
under and as defined in the 2010 Senior Secured Notes Indenture or any future “Additional
Agreement” as defined in the First Lien Intercreditor Agreement (in addition to “Agreed
Security Principles” under and as defined in the Credit Agreement and/or the Senior Secured
Note Indenture), and
	 
	 	 	“Enforcement Event” shall be amended to also mean any “Event of Default” under and as
defined in the 2010 Senior Secured Notes Indenture or any future “Additional Agreement” as
defined in the First Lien Intercreditor Agreement (in addition to any “Event of Default”
under and as defined in the Credit Agreement and/or the Senior Secured Note Indenture), and
	 
	 	 	“Principal Finance Documents” shall be amended to also mean the 2010 Senior Secured Notes
Indenture and any future “Additional Agreement” as defined in the First Lien Intercreditor
Agreement (in addition to the Credit Agreement, the Senior Secured Notes Indenture and the
Intercreditor Arrangements).
	 
	(b)	 	The Parties agree that this Agreement shall be deemed a “Security Document” for the purposes
of and as defined in the First Lien Intercreditor Agreement (and for no other purpose) and
that, accordingly, all rights, duties, privileges, protections and benefits of the Collateral
Agent set forth in the First Lien Intercreditor Agreement are hereby incorporated by
reference.
	 
	2.	 	EFFECTIVE DATE
	 
	 	 	This Agreement is effective upon the Merger Effectiveness (as defined in recital L, above).

 

 

			
	 
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	3.	 	CONFIRMATION — AMENDMENT
	 
	 	 	Each Party hereby confirms and agrees that any and all Obligations (as defined in the First
Lien Intercreditor Agreement and thus including (i) any and all obligations under or in
connection with the Incremental Assumption Agreement and (ii) any and all obligations that
are “Additional Obligations” as a result of the Senior Secured Notes Designation, in each
case) constitute “Secured Obligations” as set forth and defined in the Security Documents to
which it is a party and that, therefore, any and all obligations under or in connection with
the Incremental Assumption Agreement, the 2010 Senior Secured Notes Indenture and the Senior
Secured Note Documents (as defined in the 2010 Senior Secured Notes Indenture), shall also be
secured by the security interest created by and pursuant to the Security Documents to which
it is a party.
	 
	4.	 	CONTINUITY
	 
	 	 	Each Party hereby confirms that, notwithstanding the effectiveness of the Incremental
Assumption Agreement, the Senior Secured Notes Designation, the 2010 Senior Secured Notes
Indenture and the Senior Secured Note Documents (as defined in the 2010 Senior Secured Notes
Indenture), and subject to Legal Reservations (as defined in the Credit Agreement), the
Security Documents continue to be in full force and effect, save as amended by this
Agreement, and acknowledges that the security constituted by the Security Documents continues
to be in full force and effect so as to secure, on a pari passu basis, any and all Secured
Obligations (as amended by this Agreement) under or in connection with the Incremental
Assumption Agreement, 2010 Senior Secured Notes Indenture, the Senior Secured Note Documents
(as defined in the 2010 Senior Secured Notes Indenture), and the other Loan Documents.
	 
	 	 	For the avoidance of doubt, for Swiss law purposes, the Collateral Agent shall act and shall
be deemed to act for the benefit and for the account of each of the Secured Parties,
including the Additional Secured Parties (as defined in the First Lien Intercreditor
Agreement) as a result of the Senior Secured Notes Designation, for the purposes of this
Agreement, without any prejudice to the rights and duties laid upon the Collateral Agent
under the laws applicable to the Loan Documents.

 

 

			
	
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	5.	 	MISCELLANENOUS
	 
	(a)	 	To the extent permitted under the Principal Finance Documents, this Agreement may not be
modified, amended, altered or supplemented, in whole or in part, except by a written agreement
signed by all the Parties.
	 
	(b)	 	If any provision of this Agreement is found by any competent authority to be void, invalid or
unenforceable, such provision shall be deemed to be deleted from this Agreement and the
remaining provisions of this Agreement shall continue in full force. In this event, the
Agreement shall be construed, and, if necessary, amended in a way to give effect to, or to
approximate, or to achieve a result which is as close as legally possible to the result
intended by the provision hereof determined to be void, illegal or unenforceable.
	 
	(c)	 	The rights of a party to this Agreement shall not be prejudiced or restricted by any
indulgence or forbearance extended to the other party. A waiver to pursue any breach of
contract by a party shall not operate as a waiver of the respective right or as a waiver to
claim any subsequent breach. Any provision of this Agreement may be waived only by a written
statement of the waiving party.
	 
	6.	 	NOTICES
	 
	(a)	 	Each notice or other communication to be given under this Agreement shall be given in writing
in English and, unless otherwise provided, shall be made by fax, hand delivery or mail.
	 
	(b)	 	Without prejudice to any other method of service of notices and communications provided by
law, any notice or other communication to be given by one Party to another under this
Agreement shall (unless one Party has by 5 days’ notice to the other Party specified another
address) be given to that other Party, in the case of the Confirming Grantors and the
Collateral Agent, at the respective addresses given in section (c) below and shall be
effective only when received.
	 
	(c)	 	The addresses are the ones respectively listed in the relevant “Notices” provisions of the
applicable Security Documents.

 

 

			
	 
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	7.	 	FURTHER ASSURANCE
	 
	 	 	Subject to the Agreed Security Principles, the Confirming Grantors shall, at their own
expenses, promptly, do all acts and execute all documents that are reasonably required or
requested by the Collateral Agent in connection with and for the purpose of the exercise of
the rights of the Collateral Agent hereunder or under any of the Security Documents. In
particular, but not limited to, (i) those Confirming Grantors which became direct
subsidiaries of SIG Combibloc Group AG due to the Swiss Merger (the “New SIG Combibloc Group
Subsidiaries”), SIG Combibloc Procurement AG and SIG Combibloc Group AG shall amend the
notice in their share registers made pursuant to the undertaking contained in Schedule 2 of
the pledge agreements over the shares in the New SIG Combibloc Group Subsidiaries, SIG
Combibloc Procurement AG and SIG Combibloc Group AG as to reflect this Agreement and (ii) SIG
Combibloc Group shall execute new powers of attorneys as provided for by Schedule 3 of the
pledge agreements over the shares in the New SIG Combibloc Group Subsidiaries to reflect the
fact that, due to the Swiss Merger, SIG Combibloc Group AG is now the direct shareholder of
each of the New SIG Combibloc Group Subsidiaries.
	 
	8.	 	GOVERNING LAW AND JURISDICTION
	 
	(a)	 	This Agreement shall be governed by and construed in accordance with the substantive laws of
Switzerland (without regard to the International Private Law provisions thereof).
	 
	(b)	 	Any and all litigation to which this Agreement may give rise shall be subject to the
exclusive jurisdiction of the competent authorities and the Commercial Court of the Canton of
Zurich (“Handelsgericht”), with reservation of the right of appeal to the Swiss Federal Court
in Lausanne. The Parties submit to the jurisdiction of said authorities and Courts.
	 
	9.	 	COUNTERPARTS
	 
	 	 	This Agreement may be executed in any number of counterparts and all of such counterparts
taken together shall be deemed to constitute one and the same instrument.

THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK

THE FOLLOWING PAGES ARE THE SIGNATURE PAGES

 

 

			
	 
	 	12/17

THE BANK OF NEW YORK MELLON, by

as Collateral Agent for itself and for the benefit and for the account of the Secured Parties

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

	 	 	 	 	 
	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) III Sàrl

 
	By:  	/s/ Philip West
 	 	 
	 	Name:  	Phillip West 	 	 
	 	Title:  	Attorney 	 	 
	 

	 	 	 	 	 
	SIG COMBIBLOC GROUP AG

 	 	 
	By:  	/s/ Philip West
 	 	 
	 	Name:  	Phillip West 	 	 
	 	Title:  	Attorney 	 	 
	 

	 	 	 	 	 
	SIG ALLCAP AG

 	 	 
	By:  	/s/ Philip West
 	 	 
	 	Name:  	Phillip West 	 	 
	 	Title:  	Attorney 	 	 
	 

	 	 	 	 	 
	SIG COMBIBLOC (SCHWEIZ) AG

 	 	 
	By:  	/s/ Philip West
 	 	 
	 	Name:  	Phillip West 	 	 
	 	Title:  	Attorney 	 	 

 

 

			
	 
	 	13/17

	 	 	 	 	 
	SIG SCHWEIZERISCHE INDUSTRIE-GESELLSCHAFT AG

 	 
	By:  	/s/ Philip West
 	 	 
	 	Name:  	Phillip West 	 	 
	 	Title:  	Attorney 	 	 
	 

	 	 	 	 	 
	SIG TECHNOLOGY AG

 	 	 
	By:  	/s/ Philip West
 	 	 
	 	Name:  	Phillip West 	 	 
	 	Title:  	Attorney 	 	 
	 

	 	 	 	 	 
	SIG COMBIBLOC PROCUREMENT AG

 	 	 
	By:  	/s/ Philip West
 	 	 
	 	Name:  	Phillip West 	 	 
	 	Title:  	Attorney 	 	 
	 

	 	 	 	 	 
	SIG REINAG AG

 	 	 
	By:  	/s/ Philip West
 	 	 
	 	Name:  	Phillip West 	 	 
	 	Title:  	Attorney 	 	 
	 

 

 

			
	
	 	14/17

DECLARATION

“For the purpose of Article 1, second paragraph of the Protocol number 1 annexed to the Convention
on jurisdiction and the enforcement of judgments in civil and commercial matters, signed in Lugano
on 16 September 1988 and without prejudice to the foregoing execution of this Agreement by the
parties hereto, BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) III Sàrl expressly and specifically
confirms its agreement to the provisions of Clause 8 (Governing Law and Jurisdiction) of this
Agreement.”

Made on the 16th day of November 2010

For and on behalf of Beverage Packaging Holdings (Luxembourg) III Sàrl

	 	 	 	 	 
	By:  	                        /s/ Philip West
 	 	 
	 	Name:  	Phillip West 	 	 
	 	Title:  	Authorised Signatory 	 	 
	 

 

 

			
	
	 	15/17

SCHEDULE 1

Security Documents

“Security Documents” means the following Swiss law governed agreements (each of the Security
Documents individually a “Security Document”) between the Confirming Grantors and the Collateral
Agent:

Pledge of registered shares dated November 5, 2009 and entered into between Beverage Packaging
Holdings (Luxembourg) III Sàrl as pledgor and The Bank of New York Mellon acting as collateral
agent for itself and for the benefit and for the account of the secured parties and as pledgee and
relating to the pledge of shares of SIG Combibloc Group AG.

Assignment of bank accounts dated November 5, 2009 and entered into between SIG Combibloc Group AG
as assignor and The Bank of New York Mellon acting as collateral agent for itself and for the
benefit and for the account of the secured parties and as assignee.

Receivables assignment dated November 5, 2009 and entered into between SIG Combibloc Group AG as
assignor and The Bank of New York Mellon acting as collateral agent for itself and for the benefit
and for the account of the secured parties and as assignee.

Pledge of registered shares dated December 2, 2009 and entered into between SIG Combibloc Group AG
as pledgor and The Bank of New York Mellon acting as collateral agent for itself and for the
benefit and for the account of the secured parties and as pledgee and relating to the pledge of
shares of SIG Combibloc Procurement AG.

Pledge of registered shares dated November 5, 2009 and entered into between SIG Finanz AG as
pledgor and The Bank of New York Mellon acting as collateral agent for itself and for the benefit
and for the account of the secured parties and as pledgor and relating to the pledge of shares of
SIG Schweizerische Industrie-Gesellschaft AG, to which, due to the Swiss Merger, SIG Combibloc
Group AG is now a party.

Pledge of registered shares dated November 5, 2009 and entered into between SIG Finanz AG as
pledgor and The Bank of New York Mellon acting as collateral agent for itself and for the benefit
and for the account of the secured parties and as pledgee and relating to the pledge of shares of
SIG Combibloc (Schweiz) AG, to which, due to the Swiss Merger, SIG Combibloc Group AG is now a
party.

Pledge of registered shares dated November 5, 2009 and entered into between SIG Finanz AG as
pledgor and The Bank of New York Mellon acting as collateral agent for itself and for the benefit
and for the account of the secured parties and as pledgee and relating to the pledge of shares of
SIG allCap AG, to which, due to the Swiss Merger, SIG Combibloc Group AG is now a party.

 

 

			
	
	 	16/17

Pledge of registered shares dated November 5, 2009 and entered into between SIG Finanz AG as
pledgor and The Bank of New York Mellon acting as collateral agent for itself and for the benefit
and for the account of the secured parties and as pledgee and relating to the pledge of shares of
SIG Technology AG, to which, due to the Swiss Merger, SIG Combibloc Group AG is now a party.

Pledge of intellectual property rights dated November 5, 2009 and entered into between SIG Finanz
AG as pledgor and The Bank of New York Mellon acting as collateral agent for itself and for the
benefit and for the account of the secured parties and as pledge, to which, due to the Swiss
Merger, SIG Combibloc Group AG is now a party.

Pledge of registered shares dated January 29, 2010 and entered into between SIG Finanz AG as
pledgor and The Bank of New York Mellon acting as collateral agent for itself and for the benefit
and for the account of the secured parties and as pledgee and relating to the pledge of shares of
SIG Reinag AG, to which, due to the Swiss Merger, SIG Combibloc Group AG is now a party.

Assignment of bank accounts dated November 5, 2009 and entered into between SIG allCap AG as
assignor and The Bank of New York Mellon acting as collateral agent for itself and for the benefit
and for the account of the secured parties and as assignee.

Receivables Assignment dated November 5, 2009 and entered into between SIG allCap AG as assignor
and The Bank of New York Mellon acting as collateral agent for itself and for the benefit and for
the account of the secured parties and as assignee.

Assignment of bank accounts dated November 5, 2009 and entered into between SIG Combibloc (Schweiz)
AG as assignor and The Bank of New York Mellon acting as collateral agent for itself and for the
benefit and for the account of the secured parties and as assignee.

Receivables Assignment dated November 5, 2009 and entered into between SIG Combibloc (Schweiz) AG
as assignor and The Bank of New York Mellon acting as collateral agent for itself and for the
benefit and for the account of the secured parties and as assignee.

Assignment of bank accounts dated November 5, 2009 and entered into between SIG Schweizerische
Industrie-Gesellschaft AG as assignor and The Bank of New York Mellon acting as collateral agent
for itself and for the benefit and for the account of the secured parties and as assignee.

Receivables Assignment dated November 5, 2009 and entered into between SIG Schweizerische
Industrie-Gesellschaft AG as assignor and The Bank of New York Mellon acting as collateral agent
for itself and for the benefit and for the account of the secured parties and as assignee.

Assignment of bank accounts dated November 5, 2009 and entered into between SIG Technology AG as
assignor and The Bank of New York Mellon acting as collateral agent for itself and for the benefit
and for the account of the secured parties and as assignee.

Receivables Assignment dated November 5, 2009 and entered into between SIG Technology AG as
assignor and The Bank of New York Mellon acting as collateral agent for itself and for

 

 

			
	
	 	17/17

the benefit and for the account of the secured parties and as assignee.

Pledge of intellectual property rights dated November 5, 2009 and entered into between SIG
Technology AG as pledgor and The Bank of New York Mellon acting as collateral agent for itself and
for the benefit and for the account of the secured parties and as pledgee.

Assignment of bank accounts dated December 2, 2009 and entered into between SIG Combibloc
Procurement AG as assignor and The Bank of New York Mellon acting as collateral agent for itself
and for the benefit and for the account of the secured parties and as assignee.

Receivables Assignment dated December 2, 2009 and entered into between SIG Combibloc Procurement AG
as assignor and The Bank of New York Mellon acting as collateral agent for itself and for the
benefit and for the account of the secured parties and as assignee.

Receivables Assignment dated January 29, 2010 and entered into between SIG Reinag AG as assignor
and The Bank of New York Mellon acting as collateral agent for itself and for the benefit and for
the account of the secured parties and as assignee.

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