Document:

exv10w13

Exhibit 10.13

 

Deed Poll of Indemnification

Dated
8 October 2009

Rank Group Limited

for the benefit and in favour of

the Indemnitees defined in this deed poll

(Luxembourg)

Debevoise
& Plimpton llp

London

 

 

 

	 	 	 	 	 

	1. Definitions
	 	 	3	 
	2. Indemnification
	 	 	3	 
	3. Limitations on Indemnification
	 	 	3	 
	4. Indemnification Procedure
	 	 	4	 
	5. Severability
	 	 	5	 
	6. Governing law
	 	 	5	 
	7. Amendments
	 	 	5	 
	8. Termination
	 	 	5	 

 

 

THIS DEED Poll is made on 8 October 2009

BY:

Rank Group
Limited, a company registered in New Zealand whose registered office is at c/o Bell
Gully (GJM), Level 22, Vero Centre, 48 Shortland Street, Auckland,
New Zealand (“Rank”);

IN FAVOUR AND FOR THE BENEFIT OF:

Each Indemnitee (as defined below).

BACKGROUND

	A.	 	SIG Combibloc Group AG (“SIG”) was acquired by Beverage Packaging Holdings (Luxembourg) III S.à
r.l. (“BPIII”) in mid 2007, using acquisition debt made available under a combination of senior
secured bank loans under a senior facilities agreement (the “Senior Facilities Agreement”), and an
issue of senior notes and senior subordinated notes as further described below.
	 
	B.	 	The Closure Systems International business (the “CSI Group”) and the Reynolds Consumer Products
business (the “RCP Group”) were acquired as part of the Reynolds group of companies in February
2008 using acquisition debt made available under a senior secured facilities agreement (the
“Reynolds Facility”).
	 
	C.	 	BPIII, the sole shareholder of SIG, intends to directly and indirectly acquire the CSI Group and
the RCP Group (the “Acquisition”).
	 
	D.	 	In connection with the Acquisition, the existing financing arrangements put in place for the
acquisition of SIG and the CSI Group and RCP Group will need to be amended or replaced. The
Luxembourg Obligors (as defined below) will (as relevant) be required to:

	 	(a)	 	enter into release documentation in relation to the Senior Facilities Agreement and the
guarantee and security provided by certain
Luxembourg Obligors in respect of the Senior Facilities Agreement;
	 
	 	(b)	 	guarantee the issue of new senior secured notes in an aggregate principal amount of
approximately US$1 .842 billion (the “New
Notes”) and new senior bank debt in the amount of the equivalent of approximately US$1.16 billion
(“New Senior Facility”) and provide senior priority security in respect of the New Notes and the
New Senior Facility over substantially all of its assets;
	 
	 	(c)	 	in the case of the Luxembourg Issuer only, co-issue the New Notes and enter into certain
arrangements with the co-issuers of the New Notes
with respect to the co-issuance of the New Notes;

2

 

	 	(d)	 	to the extent that it has not already done so, provide guarantees in respect of €480,000,000
senior notes due 2016 and €420,000,000 senior subordinated notes due 2017, each issued by Beverage
Packaging Holdings (Luxembourg) II S.A. (“Existing Notes”). These guarantees will be unsecured; and
	 
	 	(e)	 	enter into an intercreditor agreement in respect of the New Senior Facility and the New Notes,
and an intercreditor agreement in respect of the New Notes, New Senior Facility and the Existing
Notes,

	 	 	(collectively, the “Transactions”).
	 
	E.	 	Rank has agreed to provide an indemnity to the Indemnitees as defined below in respect of the
Transactions as further described below.

It is the intention of Rank that this document be executed as a deed poll (this “Deed Poll”) in
favour and for the benefit of each Indemnitee.

THIS DEED POLL WITNESSES as follows:

	1.	 	Definitions
	 
	 	 	“Indemnitee” means each person listed in Part B of the Schedule to this Deed Poll; and
	 
	 	 	“Luxembourg Issuer” means Reynolds Group Issuer (Luxembourg) S.A.
	 
	 	 	“Luxembourg Obligor” means each company listed in Part A of the Schedule to this Deed Poll.
	 
	2.	 	Indemnification
	 
	 	 	Rank shall indemnify each Indemnitee against all legal expenses, losses, liabilities, judgments,
fines, penalties and amounts paid in settlement (including all interest, assessments and other
charges in connection therewith) (collectively, the “Indemnified Liabilities”) incurred by an
Indemnitee or on an Indemnitee’s behalf in connection with any proceeding resulting from or
relating to decisions the Indemnitee made or any actions the Indemnitee took on behalf of a
Luxembourg Obligor in his or her capacity as a director of that company on written instruction from
a direct or indirect shareholder of the relevant Luxembourg Obligor in connection with any
transactions or the approval or execution of any resolutions or documents in relation to the
Transactions.
	 
	3.	 	Limitations on Indemnification
	 
	 	 	Notwithstanding any other provision of this Deed Poll, an Indemnitee shall not be entitled to
indemnification under this Deed Poll:

3

 

	 	(a)	 	to the extent that such indemnification is not permitted by applicable laws; or
	 
	 	(b)	 	to the extent such Indemnified Liabilities are the result of the gross negligence, bad faith or
wilful misconduct of the Indemnitee; or
	 
	 	(c)	 	to the extent that payment is actually made, or for which payment is available, to or on behalf
of the relevant Indemnitee under an insurance policy, except in respect of any amount in excess of
the limits of liability of such policy or any applicable deductible for such policy; or
	 
	 	(d)	 	to the extent that payment has or will be made to the relevant Indemnitee by the Luxembourg
Obligor or any affiliate of Rank otherwise than pursuant to this Deed Poll; or
	 
	 	(e)	 	in connection with any proceeding (or part thereof) initiated by an Indemnitee, unless:

	 	(i)	 	such indemnification is expressly required to be made by law,
	 
	 	(ii)	 	the proceeding was authorised by the shareholder(s) (or other decision making organ) of the
relevant Luxembourg Obligor; or
	 
	 	(iii)	 	such indemnification is provided by the Luxembourg Obligor, in its sole discretion, pursuant
to the powers vested in the Luxembourg Obligor under applicable law.

	4.	 	Indemnification Procedure

	 	(a)	 	Each Indemnitee shall give Rank notice in writing as soon as practicable of any proceeding in
relation to that Indemnitee for which indemnification will or could be sought under this Deed Poll.
To obtain indemnification payments or advances under this Deed Poll, an Indemnitee shall submit to
Rank a written request therefore, together with such invoices or other supporting information as
may be reasonably requested by Rank and reasonably available to the relevant Indemnitee. Rank shall
make such indemnification payment within 30 business days of receipt of such invoices and
supporting information.
	 
	 	(b)	 	There shall be no presumption in favour of indemnification. If there is a dispute between Rank
and an Indemnitee as to whether that Indemnitee is entitled to indemnification, then independent
legal counsel shall be selected by the board of directors of Rank to make such determination. The
selected independent legal counsel shall make such determination within 30 business days of being
selected and the decision of such independent legal counsel shall be binding upon all Rank and the
relevant Indemnitee.

4

 

	5.	 	Severability
	 
	 	 	If any provision or provisions of this Deed Poll shall be held to be invalid, illegal or
unenforceable for any reason, the validity, legality and enforceability of the remaining provisions
of this Deed Poll shall not in any way be affected or impaired thereby and shall remain enforceable
to the fullest extent permitted by law.
	 
	6.	 	Governing law
	 
	 	 	This Deed Poll shall be governed by and its provisions construed in accordance with Luxembourg law.
	 
	7.	 	Amendments
	 
	 	 	No amendment or modification of this Deed Poll shall be effective unless it is approved in writing
by each Indemnitee having the benefit of this Deed Poll.
	 
	8.	 	Termination
	 
	 	 	This Deed Poll shall remain in effect in favour and for the benefit of each Indemnitee until the
expiration of 12 months after the date that is the earlier to occur of:

	 	(a)	 	the relevant Indemnitee ceasing to serve as a director of the relevant Luxembourg Obligor; and
	 
	 	(b)	 	the date on which all obligations of a Luxembourg Obligor of which that Indemnitee is a
director in respect of the New Senior Facility, the New Notes, the Existing Notes or the relevant
Intercreditor Agreement is released or terminated.

5

 

     IN WITNESS of which this Deed Poll has been executed and has been delivered on the date stated at
the beginning of this Deed Poll for the benefit and in favour of each
Indemnitee.

Rank Group Limited

	 	 	 	 	 
	 	 	 
	 	  	/s/ Graeme Hart 	 
	 	 	Graeme Hart 	 
	 	 	Director 	 

	 	 	 	 	 
	 	 	 
	 	  	/s/
F Ramsey	 
	 	 	Signature of witness 	 
	 

	 	 	 	 	 
	 	  	Secretary 	 
	 	 	Occupation 	 
	 

	 	 	 	 	 
	 	  	Auckland 	 
	 	 	City of Residence 	 
	 	 	 	 

6

 

	 	 	 	 	 

Schedule

Part A

Luxembourg Obligors

	•	 	Beverage Packaging Holdings (Luxembourg) I S.A.
	 
	•	 	Beverage Packaging Holdings (Luxembourg) II S.A.
	 
	•	 	Beverage Packaging Holdings (Luxembourg) III S.à r.l.
	 
	•	 	Reynolds Group Issuer (Luxembourg) S.A.
	 
	•	 	Reynolds Consumer Products (Luxembourg) S.à r.l.
	 
	•	 	Closure Systems International (Luxembourg) S.à r.l.
	 
	•	 	SIG Finance (Luxembourg) S.à r.l.

Part B

List
of Indemnitees

	•	 	Gregory Alan Cole
	 
	•	 	Olivier Dorier
	 
	•	 	Stewart Kam-Cheong
	 
	•	 	Helen Dorothy Golding
	 
	•	 	Allen Philip Hugli
	 
	•	 	Herman Schommarzexv10w14

Exhibit 10.14

 

Letter of indemnification

Dated 8 October, 2009

Rank Group Limited

for the benefit and in favour of

the Indemnitees defined in this Letter of indemnification

(Switzerland — SIG)

Debevoise & Plimpton llp

London

 

 

 

Contents

	 	 	 	 	 
	Clause	 	Page
	1. Definitions

	 	 	2	 
	2. Indemnification

	 	 	2	 
	3. Limitations on Indemnification

	 	 	3	 
	4. Indemnification Procedure

	 	 	3	 
	5. Severability

	 	 	4	 
	6. Governing law and jurisdiction

	 	 	4	 
	7. Amendments

	 	 	4	 

 

 

THIS
Letter of Indemnification is made on 8 October, 2009

BY:

Rank Group
Limited, a company registered in New Zealand whose registered office
is at c/o Bell Gully
(GJM), Level 22, Vero Centre, 48 Shortland Street, Auckland, New Zealand (“Rank”);

IN FAVOUR AND FOR THE BENEFIT OF:

Each Indemnitee (as defined below).

BACKGROUND

	A.	 	SIG Combibloc Group AG (“SIG”), the holding company of the Swiss Obligors (defined below), was
acquired by Beverage Packaging Holdings (Luxembourg) III S.à r.l. (“BPIII”) in mid 2007, using
acquisition debt made available under a combination of senior secured bank loans under a senior
facilities agreement (the “Senior Facilities Agreement”), and an issue of senior notes and senior
subordinated notes (the “Notes”). The Swiss Obligors have provided guarantees and security in
relation to the Senior Facilities Agreement, and guarantees in relation to the Notes.
	 
	B 	 	BPIII, the sole shareholder of SIG, intends to directly and indirectly acquire. the Closure
Systems International business and Reynolds Consumer Products business (the “Acquisition”).
	 
	C.	 	In connection with the Acquisition, the existing financing arrangements put in place for the
acquisition of SIG and the Closure Systems International and Reynolds Consumer Products businesses
will need to be amended or replaced. Each Swiss Obligor (as defined below) will be required to:

	 	(a)	 	enter into release documentation in relation to the Senior Facilities Agreement and the
guarantees and security provided by each Swiss Obligor in respect of the Senior Facilities
Agreement;
	 
	 	(b)	 	guarantee the issue of new senior lien notes in an aggregate principal amount of the equivalent
of approximately US$1.842 billion (the “New Notes”) and new senior bank debt in the amount of the
equivalent of approximately US$1.16 billion (“New Senior Facility”);

 

 

	 	(c)	 	provide senior priority security for the New Notes and the New Senior Facility over
substantially all of its assets;
	 
	 	(d)	 	enter into an intercreditor agreement in respect of the New Senior Facility and the New Notes,
and an intercreditor agreement in respect of the New Notes, New Senior Facility and the Notes,

	 	 	(collectively, the “Transactions”)

	D.	 	Rank has agreed to provide an indemnity to the Indemnitees in respect of the Transactions as
further described below.

It is the intention of Rank that this document be executed as a Letter of Indemnification in favour
and for the benefit of each Indemnitee.

THIS LETTER OF INDEMNIFICATION WITNESSES as follows:

	1.	 	Definitions
	 
	 	 	“Director” means any member of the board of directors or of the executive management (in
German: Geschäftsführug).
	 
	 	 	“Indemnitee” means each Director listed in Part B to the Schedule to this Letter of
Indemnification.
	 
	 	 	“Indemnitee Company” means, in relation to an Indemnitee, any Swiss Obligor of which an
Indemnitee is a Director.
	 
	 	 	“Swiss Obligor” means each company listed in Part A to the Schedule to this Letter of
Indemnification.
	 
	2.	 	Indemnification
	 
	 	 	Rank shall upon first demand indemnify each Indemnitee against expenses, losses, liabilities,
judgments, fines, penalties and amounts paid in settlement (including all interest, assessments and
other charges in connection therewith) incurred by an Indemnitee or on an Indemnitee’s behalf in
connection with

 

 

	 	 	any proceeding resulting from or relating to decisions the Indemnitee made or any actions the
Indemnitee took on behalf of an Indemnitee Company in his or her capacity as a Director of the
Indemnitee Company on written (including by e-mail or telefax) instruction from a direct or
indirect shareholder of the relevant Indemnitee Company in connection with any transactions or the
approval or execution of any resolutions or documents in relation to the Transactions.
	 
	3.	 	Limitations on Indemnification
	 
	 	 	Notwithstanding any other provision of this Letter of Indemnification, an Indemnitee shall not be
entitled to indemnification under this Letter of Indemnification:

	 	(a)	 	to the extent that payment is actually made, or for which payment may be immediately claimed,
to or on behalf of the relevant Indemnitee under an insurance policy,
unless the Indemnitee
assigns to Rank any related payments claims under such insurance policy; or
	 
	 	(b)	 	to the extent that payment has or will be made to the relevant Indemnitee by the Indemnitee
Company or any affiliate of Rank otherwise than pursuant to this Letter of Indemnification.

	4.	 	Indemnification Procedure
	 
	4.1	 	Each Indemnitee shall give Rank notice in writing (including by e-mail or telefax) as soon as
practicable of any proceeding in relation to that Indemnitee for which indemnification will or
could be sought under this Letter of Indemnification. To obtain indemnification payments or
advances under this Letter of Indemnification, an Indemnitee shall submit to Rank a written request
therefore, together with such invoices or other supporting information as may be reasonably
requested by Rank and reasonably available to the relevant Indemnitee. Rank shall make such
indemnification payment within 10 business days of receipt of such invoices and supporting
information.
	 
	4.2	 	Each Indemnitee shall be obliged as soon as practicable to claim his rights under any
applicable insurance policy and shall assign to Rank any related payments claims under such
insurance policy. However, this clause 4.2 does not affect the Indemnitee’s right to
indemnification under clause 2 above.

 

 

	4.3	 	For the avoidance of doubt, an Indemnitee shall not forego any rights to indemnification under
this Letter of Indemnification where he fails to give notice within the period specified in
sentence 1 (“as soon as practicable”) of this clause 4.
	 
	5.	 	Severability
	 
	 	 	If any provision or provisions of this Letter of Indemnification shall be held to be invalid,
illegal or unenforceable for any reason, the validity, legality and enforceability of the remaining
provisions of this Letter of Indemnification and this Letter of Indemnification shall not in any
way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by
law.
	 
	6.	 	Governing law and jurisdiction
	 
	 	 	This Letter of Indemnification shall be governed by and its provisions construed in accordance with
Swiss law. All the parties to this Letter of Indemnification irrevocably agree that the courts of
Zurich are to have exclusive jurisdiction to settle any dispute arising out of or in connection
with this Letter of Indemnification (including any dispute regarding the existence, validity or
termination of this Letter of Indemnification).
	 
	7.	 	Amendments
	 
	 	 	No amendment or modification of this Letter of Indemnification shall be effective unless it is
approved in writing by each Indemnitee having the benefit of this Letter of Indemnification.

 

 

IN WITNESS of which this Letter of Indemnification has been executed and has been delivered on the
date stated at the beginning of this Letter of Indemnification for the benefit and in favour of
each Indemnitee.

	 	 	 	 	 
	 	Rank Group Limited

 	 
	 	By:  	/s/ Graeme Hart
 	 
	 	 	Graeme Hart 	 
	 	 	Position: Director 	 
	 	 	Address: 743 Riddell Rd, Glendowie New Zealand 1005

 

 

Schedule

Part A

List of Swiss Obligors

	•	 	SIG Finanz AG
	 
	•	 	SIG allCap AG
	 
	•	 	SIG Combibloc Group AG
	 
	•	 	SIG Combibloc (Schweiz) AG
	 
	•	 	SIG Reinag AG
	 
	•	 	SIG Schweizerische Industrie-Gesellschaft
	 
	•	 	SIG Technology AG

 

 

Part B

List of Indemnitees

	•	 	Marco Haussener
	 
	•	 	Rolf Schneider
	 
	•	 	Graeme Hart
	 
	•	 	Peter Holtmann
	 
	•	 	André Rosenstock
	 
	•	 	Thomas Degnan
	 
	•	 	Robert Lombardini
	 
	•	 	Henrik Wagner
	 
	•	 	Arnold Pettazzi
	 
	•	 	Christian Alt
	 
	•	 	Wolfgang Ornig
	 
	•	 	Jakob Höehn
	 
	•	 	Rolf Stangl
	 
	•	 	Daniel Kiwit
	 
	•	 	Ralph Hinderichs
	 
	•	 	Kurt Kuhn
	 
	•	 	Thomas Burkhardt
	 
	•	 	Gregor Pawlitzki

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