Document:

exv4w102

EXHIBIT 4.102

PLEDGE OF REGISTERED SHARES

relating to the pledge of shares of

SIG Schweizerische Industrie-Gesellschaft AG

dated November 5th, 2009

between

SIG FINANZ AG

as Pledgor

and

THE BANK OF NEW YORK MELLON

acting as Collateral Agent under the First Lien Intercreditor Agreement

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

as Pledgee

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 PLEDGE OF REGISTERED SHARES is effective as of the Effective Date (as defined in Clause 2.
below) and entered BETWEEN

	(1)	 	SIG Finanz AG, a company limited by shares incorporated under the laws of Switzerland,
having its registered office at Laufengasse 18, CH-8212 Neuhausen am Rheinfall, Switzerland
and registered in the Commercial Register of the Canton of Schaffhausen with the federal
register number CH-290.3.004.147-6 (the “Pledgor”) of the one part; and

	(2)	 	The Bank of New York Mellon 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 below) (the “Collateral Agent” or the “Pledgee”) on the other
part.

RECITALS

	(A)	 	Pursuant to a credit agreement dated on or around the date hereof made between inter alia
Reynolds Consumer Products Holdings Inc., SIG Euro Holding AG & Co. KG aA, Closure Systems
International Holdings Inc., Closure Systems International B.V. and SIG Austria Holding GmbH
as borrowers, Reynolds Group Holdings Limited, the lenders from time to time party thereto and
Credit Suisse, Cayman Islands Branch, as administrative agent, as amended, extended,
restructured, renewed, novated, supplemented, restated, refunded, replaced or modified from
time to time (the “Credit Agreement”) certain facilities were made available on the terms and
conditions thereof.

	(B)	 	Pursuant to a senior secured note indenture dated on or around the date hereof among
inter alia the Issuers (as defined below), the Note Guarantors (as defined therein) and The
Bank of New York Mellon, as trustee, principal paying agent, transfer agent and registrar, as
amended, extended, restructured, renewed, refunded, novated, supplemented, restated, replaced
or modified from time to time (the “Senior Secured Note Indenture”), certain senior secured
notes were issued to certain noteholders on the terms and conditions thereof.

	(C)	 	Pursuant to a first lien intercreditor agreement dated on or around the date hereof,
among The Bank of New York Mellon as Collateral Agent (as defined therein) and as Trustee (as
defined in the Senior Secured Note Indenture) and Credit Suisse,

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	 	 	Cayman Islands Branch as Administrative Agent (as defined in the Credit Agreement), as
amended, novated, supplemented, restated or modified from time to time (the “First Lien
Intercreditor Agreement”), The Bank of New York Mellon was appointed 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 security created by or pursuant to this Agreement is to be administered by the
Collateral Agent for itself and for the benefit and for the account of the Secured Parties (as
defined below) pursuant to the relevant provisions of the First Lien Intercreditor Agreement.

	(E)	 	Pursuant to the Principal Finance Documents the parties enter into this Agreement in
order to secure the performance of the Secured Obligations (all as defined below).

NOW IT IS AGREED as follows:

	1.	 	DEFINITIONS AND CONSTRUCTION

	(a)	 	In this Agreement, unless the context otherwise requires or unless otherwise defined or
provided for in this Agreement, a term defined in the First Lien Intercreditor Agreement,
shall have the same meaning in this Agreement and in any notice given under this Agreement. In
addition, the following words and expressions shall have the respective meanings ascribed to
them:

	 	 	“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” shall mean this pledge of registered shares.

	 	 	“Collateral Agent” shall mean The Bank of New York Mellon in its capacity as collateral agent
as appointed under the First Lien Intercreditor Agreement and its successors and permitted
assigns in such capacity.

	 	 	“Dividends” means all dividend payments resolved by the shareholders’ meeting of the Swiss
Company and effected by the board of Directors of the Swiss Company,

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	 	 	whether in cash or in the form of additional shares in the Swiss Company (stock dividend) or
in any other form.

	 	 	“Enforcement Event” means any “Event of Default” under and as defined in the Credit Agreement
and/or the Senior Secured Note Indenture, as the context requires, provided that any notice,
lapse of time or other condition precedent to the occurrence of such Event of Default in the
relevant instrument shall have been satisfied.

	 	 	“Intercreditor Arrangements” means the First Lien Intercreditor Agreement and any other
document that is designated by the Loan Parties’ Agent (as defined below) and the Applicable
Representative as an intercreditor agreement, in each case as amended, novated, supplemented,
restated, replaced or modified from time to time.

	 	 	“Issuers” shall mean the “Issuers” under, and as defined in, the Senior Secured Note
Indenture, including their successors in interest.

	 	 	“Lien” has the meaning it is given in the First Lien Intercreditor Agreement.

	 	 	“Loan Documents” shall mean the “Credit Documents” under, and as defined in, the First Lien
Intercreditor Agreement and any other documents designated by the Loan Parties’ Agent and the
Applicable Representative as a Loan Document.

	 	 	“Loan Parties” shall mean the “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).

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

	 	 	“Pledge” means the pledge of the Shares pursuant to art. 884 et seqq. of the Swiss Civil Code
as constituted in this Agreement.

	 	 	“Pledged Assets” means all assets, rights and property of the Pledgor the subject of any
security created herein including, without limitation, the Shares, the Dividends

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	 	 	and all shares, interests, distributions, securities, subscription rights, option rights,
liquidation proceeds or rights whatsoever referred to in Clause 2 of this Agreement.

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

	 	 	“SchKG” means the Swiss federal statute on debt collection and bankruptcy (“Bundesgesetz über
Schuldbetreibung und Konkurs”) dated 11 April 1889, as amended from time to time, carrying
the official designation SR 281.1.

	 	 	“Secured Obligations” means all present and future obligations and liabilities (whether
actual or contingent and whether owed jointly or severally or in any other capacity
whatsoever) of each Loan Party and each grantor of a security interest to the Secured Parties
(or any of them) under each or any of the Loan Documents including in particular, but not
limited to, the Parallel Obligations together with all costs, charges and expenses incurred
by any Secured Party in connection with the protection, preservation or enforcement of its
respective rights under the Loan Documents or any other documents evidencing or securing any
such liabilities provided always that the Pledgor (A) shall only be liable under this
Agreement or any other Loan Document (including, for the avoidance of doubt, any
restructuring of the Pledgor’s rights of set-off and/or subrogation and its duties to
subordinate claims) in relation to obligations (other than obligations under the Loan
Documents of (y) the Pledgor (i) incurred as Borrower under the Credit Agreement, (ii)
incurred as borrower under a Local Facility Agreement (as defined in the Credit Agreement),
(iii) incurred as a party to and beneficiary under any Hedging Agreement (as defined in the
Credit Agreement), (iv) owed as Cash Management Obligations, provided the Pledgor is a
beneficiary of the Cash Management Services causing such Cash Management Obligations (all as
defined in the Credit Agreement), (v) incurred as a party to and beneficiary under any
Additional Agreement or (vi) to the extent certain proceeds of the Senior Secured Note
Indenture have been made available to the Pledgor, up to such proceeds and (z) a direct or
indirect subsidiary of the Pledgor (the “Pledgor’s Subsidiary”) (i) incurred as Borrower
under the Credit Agreement, (ii) incurred as borrower under a Local Facility Agreement (as
defined in the Credit Agreement), (iii) incurred as a party to and beneficiary under any
Hedging Agreement (as defined in the Credit Agreement), (iv) owed as Cash Management
Obligations, provided the Pledgor’s Subsidiary is a beneficiary of the Cash Management
Services causing such Cash Management Obligations (all as defined in the Credit Agreement),
(v) incurred as a party to and beneficiary under any

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	 	 	Additional Agreement or (vi) to the extent certain proceeds of the Senior Secured Note
Indenture have been made available to the Pledgor’s Subsidiary, up to such proceeds) to the
extent such obligations do not constitute a repayment of capital (Einlagerueckgewaehr), a
violation of the legally protected reserves (gesetzlich geschuetzte Reserven) or a payment of
a (constructive) dividend prohibited by the Swiss Federal Code of Obligations by the Pledgor
and in the maximum amount of its profits available for the distribution of dividends at the
point in time the Pledgor’s obligations fall due (being the balance sheet profits and any
free reserves made for this purpose, in each case in accordance with the relevant Swiss law);
(B) pass for such payments shareholder’s resolutions for the distribution of dividends in
accordance with the relevant provisions of the Swiss Federal Code of Obligations being in
force at that time (currently the profits available for the distribution of dividends as
described above must be determined based on an audited balance sheet and such shareholders’
resolution must be based on a report from the Pledgor’s auditors approving the proposed
distribution of dividends); and (C) deduct from such payments Swiss Anticipatory Tax
(withholding tax) at the rate of 35% (or such other rate as in force from time to time) and
subject to any applicable double taxation treaty and/or agreements entered into with the
Swiss Federal Tax administration:

	 	(i)	 	pay such deduction to the Swiss Federal Tax Administration; and
	 
	 	(ii)	 	give evidence to the respective Secured Party beneficiary or Secured
Parties beneficiaries (as the same may be) of such deduction in accordance with
Section 2.20 of the Credit Agreement (Taxes) and Section 4.15 of the Senior Secured
Note Indenture (Withholding Taxes);
	 
	 	(iii)	 	but if such a deduction is made, not be obliged to gross-up
pursuant to Section 2.20 of the Credit Agreement (Taxes) and Section 4.15 of the
Senior Secured Note Indenture (Withholding Taxes) to the extent that such gross-up
would result in the aggregate amounts paid to the Secured Parties beneficiaries and
the Swiss Federal Tax administration exceeding the maximum amount of its profits
available for the distribution of dividends.

	 	 	“Secured Parties” means the “Secured Parties” under, and as defined in, the First Lien
Intercreditor Agreement. Each entity or person that becomes a Secured Party after the date of
this Agreement shall be a Secured Party under this Agreement.

	 	 	“Shares” means all of the shares of the Swiss Company presently or in the future held by the
Pledgor, and, as of the Effective Date, as set out in the Schedule 1 hereto,

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	 	 	and in addition thereto, and in accordance with Swiss law, all securities or rights,
including participation rights, i.e. “Partizipationsscheine” and/or “Genussscheine” within
the meaning of art. 656a et seq. and art. 657 of the Swiss Code of Obligations, respectively,
offered, issued or paid by the Swiss Company in substitution or in addition to such shares,
following exchange, merger, redemption, consolidation, division, issue of stock, option,
dividend, subscription for each or otherwise and, generally, all such stock, shares and
rights in the capital of the Swiss Company, which the Pledgor may receive in whatsoever
manner subsequent to the Effective Date, together with all accessory rights and claims
associated with the Shares, including but not limited to all Dividend payments or
compensation of any kind paid to the Pledgor as owner of the Shares.

	 	 	“Swiss Company” means the company whose shares are subject to the pledge created hereby, i.e.
SIG Schweizerische Industrie-Gesellschaft AG, a company limited by shares incorporated under
the laws of Switzerland, having its registered office at Industrieplatz, CH-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.

	(b)	 	Reference to a person in this Agreement includes its successors and assigns including,
without limitation, any successor or assignee of the Pledgor by way of merger, amalgamation,
novation or otherwise.

	2.	 	EFFECTIVE DATE

	 	 	This Agreement shall be effective as of the date set forth on its front page (the “Effective
Date”).

	3.	 	PLEDGE

	(a)	 	As continuing security for the payment of the Secured Obligations and until this
Agreement shall be released in accordance with Clause 18 hereof, the Pledgor agrees to pledge
and pledges to the Collateral Agent the Shares (including any Dividends owned by the Pledgor
as of the Effective Date).

	(b)	 	The Collateral Agent is authorised to notify the Swiss Company of all and any rights
arising under this Agreement and on the Effective Date the Pledgor shall procure that the
Swiss Company executes and delivers to the Collateral Agent an acknowledgement of pledge in
the form of Schedule 2 hereof.

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	(c)	 	Upon the Effective Date, and within four weeks of the issue of any future Shares, the
Shares shall be delivered by the Pledgor to the Collateral Agent, duly endorsed in blank by
the Pledgor and such Shares shall be held by the Collateral Agent in accordance with the
provisions of the Principal Finance Documents.

	(d)	 	The Pledge includes all accessory rights, interest, benefits, remedies and claims
appertaining to or derived from the Shares whether already existing or due, or to come into
existence or become due in the future including but not limited to interest, distributions,
dividends (subject to Clause 6), share certificates, subscription rights (including preemptive
right (Bezugrecht) and priority subscription right (Vorwegzeichnungsrecht), option rights, and
liquidation proceeds as well as all securities or rights whatsoever which may substitute or
may be offered in exchange for any of the Shares whether by operation of law or otherwise as
of the Effective Date or thereafter.

	(e)	 	The supervision, observation and exercise of rights arising from calls conversions and
exchanges offers, repayments in full or in part, subscription rights, as well as all other
notices, offers and communications concerning the Shares shall be the responsibility of the
Pledgor. If an Enforcement Event has occurred and is continuing, the Collateral Agent shall be
entitled but not obliged to use or exercise such rights or to do such acts on behalf of the
Pledgor.

	4.	 	PRESERVATION OF SECURITY

	(a)	 	The security constituted by this Pledge shall be continuing and will extend to the
ultimate balance of the Secured Obligations, regardless of any intermediate payment or
discharge in part (whether in respect of this Pledge, any other security or otherwise).

	(b)	 	Subject to Clause 18, the obligations of the Pledgor hereunder shall not be affected by
any act, omission or circumstances which, but for this provision, might operate to release or
otherwise exonerate the Pledgor from its obligations hereunder or affect such obligations
including without limitation and whether or not known to the Pledgor or the Collateral Agent:

	 	(i)	 	any time, waiver or concession granted to or composition with the Pledgor or
any other party to the Loan Documents;

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	 	(ii)	 	the taking, variation, extension, compromise, exchange, renewal or release
of, or refusal or neglect to perfect, take up or enforce, any terms of the Loan
Documents or any rights or remedies against, or securities granted by the Pledgor or any
party to the Loan Documents;
	 
	 	(iii)	 	any irregularity, invalidity or unenforceability of any obligations of the
Pledgor or any party to the Loan Documents or any present or future law or order of any
government or authority (whether of right or in fact) purporting to reduce or otherwise
affect any of such obligations to the intent that the Pledgor’s obligations under this
Pledge and this security shall remain in full force and this Pledge shall be construed
accordingly as if there were no such irregularity, unenforceability, invalidity, law or
order;
	 
	 	(iv)	 	any legal limitation, disability, incapacity or other circumstances including
bankruptcy, insolvency, liquidation, administrative or other receivership relating to
the Pledgor or any party to the Loan Documents or any other person or any amendment to
or variation of the terms of the Loan Documents or any other document or security.

	(c)	 	Provided an Enforcement Event has occurred and is continuing, the Pledgor waives (i) its
right of objection pursuant to Art. 41 SchKG of first requiring the Collateral Agent to
enforce and realise the Shares subject of this Pledge and (ii) any right it may have of first
requiring the Collateral Agent of the Secured Parties to enforce any guarantee, pledge or
other security before enforcing and realising this Agreement.

	(d)	 	This Pledge shall be cumulative, independent of, separate from, in addition to and shall
not in any way be prejudiced by any other pledge or other security or guarantee as of the
Effective Date or thereafter held by the Collateral Agent with respect to any Secured
Obligations. None of such other securities shall prejudice, or be prejudiced by, or shall be
merged in any way with this Agreement.

	5.	 	REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS

	(a)	 	The Pledgor warrants and represents to the Collateral Agent that as of the Effective Date
with reference to the facts and circumstances then existing and subject to the provisions of
the Principal Finance Documents:

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	 	(i)	 	the representations and warranties made by the Pledgor as Loan Party in
Section 3.01 (Organization; Powers), 3.02 (Authorization), 3.03 (Enforceability), 3.07
(Title to Properties; Possession Under Leases), 3.09 (Litigation, Compliance with Laws),
3.10 (Agreements) and 3.19(d) (Security Documents) of the Credit Agreement, are true and
accurate as regards the Pledgor and this Pledge, subject to limitations on
representations and warranties in the Principle Finance Documents;
	 
	 	(ii)	 	to the best of Pledgor’s knowledge the Shares represent the entire issued and
fully paid-up capital of the Swiss Company (except as set out in Schedule 3.08 of the
Credit Agreement) and the Shares have been validly issued and there are no moneys or
liabilities outstanding in respect of the Shares, other than Dividends resolved but not
yet paid;
	 
	 	(iii)	 	the Pledgor is the sole owner of the Shares and the Shares are free and
clean of any third party rights or of any Lien (except as created under this Agreement
or permitted under the Principal Finance Documents).

	(b)	 	Unless otherwise permitted under the Loan Documents, the Pledgor further undertakes that
during the lifetime of this Agreement it shall ensure that the security interest created by or
pursuant to this Agreement will at all times be a first ranking pledge pursuant to article 899
et seqq. of the Swiss Civil Code (“CC”), in particular pursuant to articles 893 CC.

	(c)	 	The Pledgor further undertakes that it shall not, save as otherwise permitted by the
Principal Finance Documents, during the lifetime of this Agreement:

	 	(i)	 	take or permit to be taken any action whereby the rights attaching hereunder
to the Shares are altered or diluted in such way that it would have an adverse effect on
the Collateral Agent and its rights hereunder;
	 
	 	(ii)	 	amend the articles of association of the Swiss Company (i) in order to change
the Shares into bearer shares or into registered shares with restricted transferability
as set forth in article 685a et seq. of the Swiss Code of Obligations or (ii) to an
extent which would adversely affect the rights of the Collateral Agent hereunder,
including the right to enforce the security interest created hereunder.

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	6.	 	VOTING RIGHTS

	(a)	 	Provided no Enforcement Event has occurred and is continuing, all voting rights in the
Shares and all other rights and powers relating to the Shares shall remain with the Pledgor
provided that such rights shall not be exercised in any manner which would have an adverse
effect on the validity of the security under this Agreement or, other than as permitted by the
Principal Finance Documents, on the ability of the Collateral Agent to transfer all or part of
the Shares by or pursuant to this Agreement or by law.

	(b)	 	Provided an Enforcement Event has occurred and is continuing, the Collateral Agent may,
at its discretion, exercise any voting rights relating to the Shares and all other powers,
rights and benefits conferred on or exercisable by the holders of such securities.

	(c)	 	In order to enable the Collateral Agent to exercise such voting rights, the Pledgor shall
deliver to the Collateral Agent, simultaneously with the Effective Date of this Agreement, a
power of attorney in favour of the Collateral Agent in the form set out in Schedule 3
hereto, and at any time thereafter, such forms of proxy or other appropriate forms of
authorisation.

	7.	 	DIVIDENDS

	(a)	 	Unless an Enforcement Event has occurred and is continuing, the payment of Dividends may
be made to the Pledgor as well as other moneys paid on or derived from the Shares.

	(b)	 	Provided an Enforcement Event has occurred and is continuing, the Pledgor shall cause the
Swiss Company to distribute Dividends as well as other moneys paid on or derived from the
Shares according to the instructions of the Collateral Agent and shall do all acts and things
which are necessary to enable the Collateral Agent to collect such Dividends and other moneys
paid directly from the Swiss Company. Such Dividends to be applied as though they were the
proceeds of enforcement under this Agreement.

	8.	 	ENFORCEMENT AND APPLICATION OF PROCEEDS

	(a)	 	If an Enforcement Event has occurred and is continuing, the Collateral Agent, acting for
itself and for the benefit and for the account of the Secured Parties, shall be

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	 	 	entitled, but not obliged, to exercise immediately all the rights and powers conferred to it
under or pursuant to this Agreement and in particular, without regard to the provisions of
the SchKG, to realize any or all of the Pledged Assets by private sale (“Private Verwertung”)
as, in its sole and absolute discretion, is necessary or appropriate to cover the Secured
Obligations, without notice to the Pledgor, and to apply the net proceeds in settlement of
all the Secured Obligations, including, but not limited to, principal, contractual and
penalty interests, commissions, charges and costs in accordance with the terms of the
Principal Finance Documents. Any surplus following satisfaction of the Secured Obligations
shall be paid by the Collateral Agent to the Pledgor, or to a third party, as directed in
writing by the Pledgor, for no consideration.

	(b)	 	If an Enforcement Event has occurred and is continuing, the Collateral Agent shall also
be entitled to acquire from the Pledgor all or part of the Pledged Assets for cash
consideration equal to the fair market value of the Pledge Assets, such fair market value to
be computed by an independent expert using a valuation methodology generally recognized as
standard market practice in the field of corporate finance, it being understood that the
Collateral Agent be entitled to set off the proceeds of such acquisition against the Secured
Obligations.

	9.	 	FURTHER ASSURANCE

	 	 	Subject to the Agreed Security Principles, the Pledgor shall, at its own expense, promptly do
(or as the case may be, refrain from doing) all acts and execute all such documents necessary
or advisable to comply and to allow for the Company to comply with its obligations under
Section 5.12 (Further Assurances) of the Credit Agreement.

	10.	 	WAIVERS, REMEDIES CUMULATIVE

	(a)	 	The rights, powers and remedies provided in this Agreement are cumulative and are not,
nor are they to be construed as, exclusive of any rights, powers or remedies provided by law
or otherwise.

	(b)	 	No failure on the part of the Collateral Agent to exercise, nor any delay on its part in
exercising, any of its respective rights, powers and remedies provided by this Agreement or by
law (collectively the “Rights”) shall operate as a waiver thereof, nor shall any single or
partial waiver of any of the Rights preclude any further or

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	 	 	other exercise of that one of the Rights concerned or the exercise of any other of the
Rights.

	11.	 	INDEMNITY

	 	 	To the extent set out in Section 4.11 of the First Lien Intercreditor Agreement, the Pledgor
shall, notwithstanding any release or discharge of all or any part of the security, indemnify
the Collateral Agent, its agents, its attorneys and any delegate against any action,
proceeding, claims, losses, liabilities, expenses, demands, taxes, and costs which it may
sustain as a consequence of any breach by the Pledgor of the provisions of this Agreement,
the exercise or purported exercise of any of the rights and powers conferred on them by this
Agreement or otherwise relating to the Shares.

	12.	 	NO LIABILITY

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

	13.	 	POWER OF ATTORNEY

	(a)	 	The Pledgor by way of security and in order to more fully secure the performance of its
obligations hereunder appoints the Collateral Agent to be its attorney acting severally, and
on its behalf and in its name or otherwise to do all acts and things and to sign, execute,
deliver, perfect and do all deeds, instruments, documents, acts and things which are required
for carrying out any obligation imposed on the Pledgor by or pursuant to this Agreement for
enabling the Collateral Agent to exercise, or delegate the exercise of, its respective powers
and authorities conferred on it by or pursuant to this Pledge or by law, in particular in
connection with a private realization (“Private Verwertung”) of the Pledged Assets provided
always that the Collateral Agent may only be entitled to exercise the powers conferred upon it
by the Pledgor under this Clause if:

	 	(i)	 	an Enforcement Event has occurred and is continuing; and/or
	 
	 	(ii)	 	the Collateral Agent has received notice from the Applicable Representative,
the Loan Parties’ Agent and/or the Pledgor that the Pledgor has failed to

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	 	 	 	comply with a further assurance or perfection obligation within 10 Business Days of
being notified of that failure (with a copy of that notice being sent to the Pledgor)
and being requested to comply.

	(b)	 	The Collateral Agent shall not be obliged to exercise the powers conferred upon it by the
Pledgor under this Clause 13 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.

	(c)	 	The Pledgor ratifies and confirms and agrees to ratify and confirm any and all acts
carried out by the Collateral Agent in the proper exercise of the powers conferred on it
pursuant to Clause 13 (a) above.

	14.	 	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 Pledgor and the Collateral Agent, at
the respective addresses given in section (c) below and shall be effective only when received.

	(c)	 	The addresses are:

	 	(i)	 	the Pledgor:

SIG Finanz AG

Laufengasse 18

CH-8212 Neuhausen am Rheinfall

Fax: +41 52 674 65 74
	 
	 	 	 	Attention: head of legal corporate
	 
	 	 	 	with copy to:
	 
	 	 	 	Rank Group Limited

Level 9

148 Quay St.

Auckland, 1140

New Zealand

Fax: +64 (0) 9 366 6263

c/o: Helen Golding

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	 	(ii)	 	the Collateral Agent:
	 
	 	 	 	The Bank of New York Mellon

101 Barclay Street, 4E

New York, N.Y. 10286

USA

Phn: (212) 298-1528

Fax: (212) 815-5366

Attn: International Corporate Trust
	 
	 	(iii)	 	the Trustee:
	 
	 	 	 	The Bank of New York Mellon

101 Barclay Street, 4E

New York, N.Y. 10286

USA

Phn: (212) 298-1528

Fax: (212) 815-5366

Attn: International Corporate Trust
	 
	 	(iv)	 	the Administrative Agent:
	 
	 	 	 	Credit Suisse,

Agency Manager,

One Madison Avenue,

New York, NY 10010,

USA

Fax : 212-322-2291,

Email: agency.loanops@credit-suisse.com;

	15.	 	AMENDMENTS

	 	 	To the extent permitted under the Principle Finance Documents, changes and amendments to this
Agreement, including this clause 14, shall be made in writing and signed by all parties
thereto.

	16.	 	THE COLLATERAL AGENT

	(a)	 	The parties acknowledge that the Collateral Agent acts in its capacity as Collateral
Agent (as defined in the First Lien Intercreditor Agreement). For Swiss Law

- 15 -

 

	 	 	purposes, the Collateral Agent shall be deemed to act for the benefit and for the account of
each of the Secured Parties 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.

	(b)	 	The Collateral Agent shall have a full and unfettered right to assign or otherwise
transfer the whole or any part of the benefit of this Agreement to any person to whom all or
any part of its rights, benefits and obligations under the Loan Documents are assigned or
transferred in accordance with the provisions of the Loan Documents. The Collateral Agent
shall be entitled to disclose any information concerning this Agreement to any such assignee
or successor or any participant or proposed assignee, successor or participant subject to the
provisions of the Loan Documents.

	17.	 	SEVERABILITY OF PROVISIONS

	 	 	If, at any time, any provision of this Agreement is or becomes illegal, invalid or
unenforceable in any respect under the terms of a jurisdiction, such illegality invalidity or
unenforceability shall neither (i) affect or impair the remaining provisions of this
Agreement, nor (ii) affect or impair the legality, validity or enforceability of such
provisions in any other jurisdiction.

	18.	 	RELEASE

	(a)	 	The security constituted by this Agreement shall be released and cancelled:

	 	(i)	 	by the Collateral Agent (acting on the instruction of the Applicable
Representative) at the request and cost of the Pledgor, (a) upon the Secured Obligations
being irrevocably paid or discharged in full and none of the Secured Parties being under
any further actual or contingent obligation to make advances or provide other financial
accommodation to the Pledgor or any other person under any of the Loan Documents, (b)
upon the Pledgor ceasing to be a Grantor or (c) upon the Pledgor entering into a
separate pledge agreement that comprises this Pledge under this Agreement; or

	 	(ii)	 	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
Swiss law).

- 16 -

 

	(b)	 	Subject to the terms of the Loan Documents, any Pledged Assets so to be released and/or
returned, as the case may be, shall be delivered net of any transfer taxes or other expenses
in connection with such release and return. The Collateral Agent shall not be deemed to have
made any representation or warranty with respect to any Pledged Assets so released except that
such Pledged Assets are free and clear on the date of the release, of any security arising
from the Collateral Agent’s and the Secured Parties’ acts.

	19.	 	NON-ASSIGNMENT/DELEGATION

	(a)	 	The rights, interests and obligations of the Pledgor under this Agreement are personal to
it. Accordingly, they are not capable of being assigned, transferred or delegated in any
manner. The Pledgor undertakes that it shall not at any time assign or transfer, or attempt to
assign or transfer, any of its rights, interests or obligations under or in respect of this
Agreement to any person.

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

	20.	 	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.

- 17 -

 

	21.	 	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.

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SIG Finanz AG, by

	 	 	 	 	 	 	 

	/s/ Philip West

	 	 	 	/s/ Mark Dunkley
	 	 
	 

	 	 	 	 	 	 

The Bank of New York Mellon, by

	 	 	 	 	 
	 	/s/ Michael Lee
 	 
	 	Michael Lee 	 
	 	Senior Associate 	 
	 	 	 

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SCHEDULE 1

LIST OF SHARES

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Number	 	Class of	 	Pledged	 	Place of	 	Nominal	 	 	 	Registered
	Held	 	Shares	 	Company	 	Incorporation	 	Value	 	Owner	 	Holder
	12,700

	 	Registered

Shares
	 	SIG

Schweizerische

Industrie-

Gesellschaft
	 	Neuhausen

am Rheinfall,

Switzerland
	 	CHF 1,000
	 	SIG Finanz

AG
	 	SIG Finanz

AG

- 20 -

 

SCHEDULE 2

ACKNOWLEDGEMENT / UNDERTAKING

The undersigned,

SIG Schweizerische Industrie-Gesellschaft AG, incorporated under the laws of Switzerland, and
having its registered offices at Industrieplatz, CH-8212 Neuhausen am Rheinfall, Switzerland

WHEREAS

SIG Finanz AG, incorporated under the laws of Switzerland, the owner of 12,700 registered shares in
the share capital of SIG Schweizerische Industrie-Gesellschaft AG has entered into a pledge of
shares dated on or about 5th November, 2009 (the “Pledge Agreement”) with The Bank of
New York Mellon acting in its name an as agent and Collateral Agent for itself and for the benefit
and for the account of the Secured Parties as defined in the Pledge Agreement and pursuant to which
SIG Finanz AG has pledged all of the shares held by it in the undersigned by way of security to the
Collateral Agent which Pledge has been presented to the undersigned;

THEREFORE

	 	(i)	 	herewith acknowledges the security interest created under the Pledge
Agreement and undertakes to register it promptly in its share register with the
following note:

	 	 	 	“Affectation en nantissement de 12,700 actions au profit de The Bank of New York
Mellon, en qualité de Collateral Agent pour soi même et au bénéfice et pour le compte
des Prêteurs (“Banks”) ou de ceux qui à l’avenir viendraient à se substituer aux
Prêteurs, conformément à la Convention de Nantissement d’Actions (Pledge of Shares of
SIG Schweizerische Industrie-Gesellschaft AG) intervenue le __________________ 2009
entre SIG Finanz AG et les Créanciers Gagistes, en garantie des sommes dues au titre de
divers contrats de prêt”.

	 	 	 	“Verpfändung der 12,700 Aktien zugunsten der The Bank of New York Mellon, als
Collateral Agent handelnd für sich selbst und zu Gunsten und auf Rechnung der
Kreditgeber (“Banks”) oder derjenigen, die in der Zukunft Kreditgeber werden und/oder
die Kreditgeber ersetzen werden, aufgrund des Pfandvertrages über die Aktien (Pledge of
Share of SIG Schweizerische Industrie-Gesellschaft AG) vom __________________ 2009
zwischen der SIG

- 21 -

 

	 	 	 	Finanz AG und dem Collateral Agent zur Absicherung der unter dem verschiedenen
Darlehensverträge eingegangenen Verpflichtungen”.

	 	(ii)	 	acknowledges and undertakes to make any and all payments of dividends or of
proceeds or other distributions by the undersigned attaching to the pledged shares
directly to the Collateral Agent, but only if an Enforcement Event has occurred and is
continuing as defined in the Pledge Agreement.

	 	(iii)	 	acknowledges and undertakes, save as permitted in the Principal Finance
Documents or the Intercreditor Arrangements, not to execute any transfer of all or part
of the 12,700 shares in its share register without the prior written consent of the
Collateral Agent.

	 	(iv)	 	acknowledges and undertakes to approve the entry of any acquirer of the
pledged shares who acquires them in the course of any enforcement in accordance with the
terms of the Pledge Agreement in its share register as shareholder with respect to those
pledged shares.

Thus signed this 5th November in 2009

SIG Schweizerische Industrie-Gesellschaft AG, by

	 	 	 	 	 	 	 
	Philip West

	 	 	 	Mark Dunkley
	 	 
	 

	 	 	 	 	 	 
	 

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SCHEDULE 3

FORM OF POWER OF ATTORNEY

Power of Attorney for the representation at Shareholders Meetings

In connection with the Pledge of Registered Shares of SIG Schweizerische Industrie-Gesellschaft AG
between SIG Finanz AG as Pledgor and The Bank of New York Mellon acting in its name and as
Collateral Agent for the benefit and for the account of the Secured Parties as Pledgee, dated on or
about 5th November, 2009 (the “Agreement”), the undersigned hereby authorises by
way of Power of Attorney The Bank of New York Mellon to represent it if an Enforcement Event has
occurred and is continuing as defined in the Agreement and at any time thereafter at any ordinary
or extraordinary Shareholders Meeting of SIG Schweizerische Industrie-Gesellschaft AG.

The grantor of the Power of Attorney hereby authorises The Bank of New York Mellon, after an
Enforcement Event has occurred and is continuing, to vote for, approve of and to implement any and
all resolutions in the name of the undersigned, to participate at all meetings, to draw up and sign
all documents and certificates, to apply for registration and to give confirmation.

The Bank of New York Mellon is authorised to represent several principals, to act itself as a party
and/or to substitute itself by a third party.

This Power of Attorney shall not lapse on bankruptcy of SIG Finanz AG.

This Power of Attorney is subject to the substantive laws of Switzerland.

Place, date: New York, 5th November 2009

SIG Finanz AG, by

	 	 	 	 	 	 	 

	Philip West

	 	 	 	Mark Dunkley
	 	 
	 

	 	 	 	 	 	 
	 

- 23 -exv4w103

EXHIBIT 4.103

ASSIGNMENT OF BANK ACCOUNTS

dated November 5th, 2009

between

SIG SCHWEIZERISCHE INDUSTRIE-GESELLSCHAFT AG

as Assignor

and

THE BANK OF NEW YORK MELLON

acting as Collateral Agent under the First Lien Intercreditor Agreement

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

as Assignee

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 ASSIGNMENT OF BANK ACCOUNTS effective as of the Effective Date (as defined in Clause 2. below)
and entered BETWEEN

	(1)	 	SIG Schweizerische Industrie-Gesellschaft AG, a company limited by shares incorporated under
the laws of Switzerland, having its registered office at Industrieplatz, CH-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 (the “Assignor”) on the one part; and
	 
	(2)	 	The Bank of New York Mellon 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 below) (the “Collateral Agent” or the “Assignee”) on the other part.

RECITALS

	(A)	 	Pursuant to a credit agreement dated on or around the date hereof made between inter alia
Reynolds Consumer Products Holdings Inc., SIG Euro Holding AG & Co. KG aA, Closure Systems
International Holdings Inc., Closure Systems International B.V. and SIG Austria Holding GmbH
as borrowers, Reynolds Group Holdings Limited, the lenders from time to time party thereto,
and Credit Suisse, Cayman Islands Branch, as administrative agent, as amended, extended,
restructured, renewed, novated, supplemented, restated, refunded, replaced or modified from
time to time (the “Credit Agreement”) certain facilities were made available on the terms and
conditions thereof.
	 
	(B)	 	Pursuant to a senior secured note indenture dated on or around the date hereof among inter
alia the Issuers (as defined below), the Note Guarantors (as defined therein) and The Bank of
New York Mellon, as trustee, principal paying agent, transfer agent and registrar, as amended,
extended, restructured, renewed, refunded, novated, supplemented, restated, replaced or
modified from time to time (the “Senior Secured Note Indenture”), certain senior secured notes
were issued to certain noteholders on the terms and conditions thereof.
	 
	(C)	 	Pursuant to a first lien intercreditor agreement dated on or around the date hereof, among
The Bank of New York Mellon as Collateral Agent (as defined therein) and as Trustee (as
defined in the Senior Secured Note Indenture) and Credit Suisse, Cayman Islands Branch, as
Administrative Agent (as defined in the Credit Agreement), as amended, novated, supplemented,
restated or modified from time to time (the “First Lien Intercreditor Agreement”), The Bank of
New York Mellon was appointed

- 2 -

 

	 	 	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 security created by or pursuant to this Agreement is to be administered by the Collateral
Agent for itself and for the benefit and for the account of the Secured Parties (as defined
below) pursuant to the relevant provisions of the First Lien Intercreditor Agreement.
	 
	(E)	 	Pursuant to the Principal Finance Documents (as defined below) the parties enter into this
Agreement in order to secure the performance of the Secured Obligations (as defined below).

NOW IT IS AGREED as follows:

	1.	 	DEFINITIONS AND CONSTRUCTION
	 
	(a)	 	In this Agreement, unless the context otherwise requires or unless otherwise defined or
provided for in this Agreement, a term defined in the First Lien Intercreditor Agreement shall
have the same meaning in this Agreement and in any notice given under this Agreement. In
addition, the following words and expressions shall have the respective meanings ascribed to
them:
	 
	 	 	“Account Bank” means each and any custodian of the Secured Assets held by the Assignor in any
Bank Account.
	 
	 	 	“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 assignment of bank accounts.
	 
	 	 	“Assignment” means the assignment of the “Secured Assets” (as defined below) as constituted
by this Agreement.
	 
	 	 	“Bank Account” means each Assignor’s bank account set opposite its name in Schedule 1
(and any renewal or redesignation thereof) and any other future bank account which is subject
to Swiss law and opened by the Assignor with an Account Bank, which are subject to the
Assignment created hereunder.

- 3 -

 

	 	 	“Collateral Agent” shall mean The Bank of New York Mellon in its capacity as collateral agent
as appointed under the First Lien Intercreditor Agreement and its successors and permitted
assigns in such capacity.
	 
	 	 	“Enforcement Event” means any “Event of Default” under and as defined in the Credit Agreement
and/or the Senior Secured Note Indenture, as the context requires, provided that any notice,
lapse of time or other condition precedent to the occurrence of such Event of Default in the
relevant instrument shall have been satisfied.
	 
	 	 	“Intercreditor Arrangements” means the First Lien Intercreditor Agreement and any other
document that is designated by the Loan Parties’ Agent (as defined below) and the Applicable
Representative as an intercreditor agreement, in each case as amended, novated, supplemented,
restated, replaced or modified from time to time.
	 
	 	 	“Issuers” shall mean the “Issuers” under, and as defined in, the Senior Secured Note
Indenture, including their successors in interest.
	 
	 	 	“Lien” has the meaning it is given in the First Lien Intercreditor Agreement.
	 
	 	 	“Loan Documents” shall mean the “Credit Documents” under, and as defined in, the First Lien
Intercreditor Agreement and any other documents designated by the Loan Parties’ Agent and the
Applicable Representative as a Loan Document.
	 
	 	 	“Loan Parties” shall mean the “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).
	 
	 	 	“Parallel Obligations” means the independent obligations of any of the Loan Parties arising
pursuant to the First Lien Intercreditor Agreement to pay to the Collateral Agent sums equal
to the sums owed by such Loan Party to the other Secured Parties (or any of them) under the
Loan Documents.
	 
	 	 	“Principal Finance Documents” means the Credit Agreement, the Senior Secured Note
Indenture and the Intercreditor Arrangements.
	 
	 	 	“SchKG” means the Swiss federal statute on debt collection and bankruptcy (“Bundesgesetz über
Schuldbetreibung und Konkurs”) dated 11 April 1889, as amended from time to time, carrying
the official designation SR 281.1

- 4 -

 

	 	 	“Secured Assets” means (a) all and any money, currencies, cash, securities (including but not
limited to shares, bonds or derivatives), fiduciary deposits, precious metals or any other
valuables or assets which at present or in the future are held in any Bank Account and each
and any actual, contingent, present and/or future right, entitlement, claim or benefit
including the right to recovery of possession, to or over all said assets held in that Bank
Account, (b) any present and future accessories which attach or will attach to any of the
above mentioned assets, including interests, dividends, coupons,
subscription rights, new shares, bonuses, distributions and options, and all proceeds of all operations and
transactions involving the above mentioned assets, whether such proceeds are cash or
securities and (c) any claims or rights of the Assignor against the Account Bank, arising in
connection with the Bank Account.
	 
	 	 	“Secured Obligations” means all present and future obligations and liabilities (whether
actual or contingent and whether owed jointly or severally or in any other capacity
whatsoever) of each Loan Party and each grantor of a security interest to the Secured Parties
(or any of them) under each or any of the Loan Documents including in particular, but not
limited to, the Parallel Obligations together with all costs, charges and expenses incurred
by any Secured Party in connection with the protection, preservation or enforcement of its
respective rights under the Loan Documents or any other documents evidencing or securing any
such liabilities provided always that the Assignor (A) shall only be liable under this
Agreement or any other Loan Document (including, for the avoidance of doubt, any
restructuring of the Assignor’s rights of set-off and/or subrogation and its duties to
subordinate claims) in relation to obligations (other than obligations under the Loan
Documents of (y) the Assignor (i) incurred as Borrower under the Credit Agreement, (ii)
incurred as borrower under a Local Facility Agreement (as defined in the Credit Agreement),
(iii) incurred as a party to and beneficiary under any Hedging Agreement (as defined in the
Credit Agreement), (iv) owed as Cash Management Obligations, provided the Assignor is a
beneficiary of the Cash Management Services causing such Cash Management Obligations (all as
defined in the Credit Agreement), (v) incurred as a party to and beneficiary under any
Additional Agreement or (vi) to the extent certain proceeds of the Senior Secured Note
Indenture have been made available to the Assignor, up to such proceeds and (z) a direct or
indirect subsidiary of the Assignor (the “Assignor’s Subsidiary”) (i) incurred as Borrower
under the Credit Agreement, (ii) incurred as borrower under a Local Facility Agreement (as
defined in the Credit Agreement), (iii) incurred as a party to and beneficiary under any
Hedging Agreement (as defined in the Credit Agreement), (iv) owed as Cash Management
Obligations, provided the Assignor’s Subsidiary is a beneficiary of the Cash Management
Services causing such Cash Management Obligations (all as defined in the Credit Agreement),
(v) incurred as a party to and

- 5 -

 

	 	 	beneficiary under any Additional Agreement or (vi) to the extent certain proceeds of the
Senior Secured Note Indenture have been made available to the Assignor’s Subsidiary, up to
such proceeds) to the extent such obligations do not constitute a repayment of capital
(Einlagerueckgewaehr), a violation of the legally protected reserves (gesetzlich geschuetzte
Reserven) or a payment of a (constructive) dividend prohibited by the Swiss Federal Code of
Obligations by the Assignor and in the maximum amount of its profits available for the
distribution of dividends at the point in time the Assignor’s obligations fall due (being the
balance sheet profits and any free reserves made for this purpose, in each case in accordance
with the relevant Swiss law); (B) pass for such payments shareholder’s resolutions for the
distribution of dividends in accordance with the relevant provisions of the Swiss Federal
Code of Obligations being in force at that time (currently the profits available for the
distribution of dividends as described above must be determined based on an audited balance
sheet and such shareholders’ resolution must be based on a report from the Assignor’s
auditors approving the proposed distribution of dividends); and (C) deduct from such payments
Swiss Anticipatory Tax (withholding tax) at the rate of 35% (or such other rate as in force
from time to time) and subject to any applicable double taxation treaty and/or agreements
entered into with the Swiss Federal Tax administration:

	 	(i)	 	pay such deduction to the Swiss Federal Tax Administration; and
	 
	 	(ii)	 	give evidence to the respective Secured Party beneficiary or Secured
Parties beneficiaries (as the same may be) of such deduction in accordance with
Section 2.20 of the Credit Agreement (Taxes) and Section 4.15 of the Senior Secured
Note Indenture (Withholding Taxes);
	 
	 	(iii)	 	but if such a deduction is made, not be obliged to gross-up pursuant to
Section 2.20 of the Credit Agreement (Taxes) and Section 4.15 of the Senior Secured
Note Indenture (Withholding Taxes) to the extent that such gross-up would result in
the aggregate amounts paid to the Secured Parties beneficiaries and the Swiss
Federal Tax administration exceeding the maximum amount of its profits available for
the distribution of dividends.

	 	 	“Secured Parties” means the “Secured Parties” under, and as defined in, the First Lien
Intercreditor Agreement. Each entity or person that becomes a Secured Party after the date of
this Agreement shall be a Secured Party under this Assignment.
	 
	(b)	 	Reference to a person in this Agreement includes its successors and assigns including,
without limitation, any successor or assignee of the Assignor by way of merger, amalgamation,
novation or otherwise.

- 6 -

 

	2.	 	EFFECTIVE DATE
	 
	 	 	This Agreement shall be effective as of the date set forth on its front page (the “Effective
Date”).
	 
	3.	 	ASSIGNMENT
	 
	(a)	 	As continuing security for the payment of the Secured Obligations and until this Agreement
shall be released in accordance with Clause 16 hereof, the Assignor agrees to assign and
assigns as of the Effective Date the Secured Assets to the extent that they are legally and
contractually assignable pursuant to articles 164 et seq. of the Swiss Federal Code of
Obligations and/or transfers title by way of security (“Sicherungsübereignung") to the Secured
Assets, as the case may be, to the Collateral Agent.
	 
	(b)	 	As soon as reasonably practicable upon receipt of a signed notice from the Collateral Agent,
substantially in the form set out in Schedule 2, the Assignor shall countersign and
send each notice to such Account Bank informing it of this Assignment. Thereafter, the
Assignor shall use all reasonable endeavours to procure either that the Account Banks
acknowledge the notice or if the Account Banks require the conclusion of a tripartite
agreement, that each tripartite agreement is signed by the Assignor and the Account Banks.
	 
	(c)	 	The Collateral Agent as of the Effective Date grants to the Assignor the power of attorney to
use any balance on any Bank Account and to deal with the account in any manner (including the
disposal of or closing of any Bank Account if permitted by the Principal Finance Documents)
freely and without restrictions in accordance with the terms and conditions of the Principal
Finance Documents and of this Agreement provided no Enforcement Event has occurred and is
continuing.
	 
	4.	 	PRESERVATION OF SECURITY
	 
	(a)	 	The security constituted by this Assignment shall be continuing and will extend to the
ultimate balance of the Secured Obligations, regardless of any intermediate payment or
discharge in part (whether in respect of this Assignment, any other security or otherwise).
	 
	(b)	 	Subject to Clause 16, the obligations of the Assignor hereunder shall not be affected by any
act, omission or circumstances which, but for this provision, might operate to

- 7 -

 

	 	 	release or otherwise exonerate the Assignor from its obligations hereunder or affect such
obligations including without limitation and whether or not known to the Assignor or the
Assignee:

	 	(i)	 	any time, waiver or concession granted to or composition with the Assignor or any
other party to the Loan Documents;
	 
	 	(ii)	 	the taking, variation, extension, compromise, exchange, renewal or release of, or
refusal or neglect to perfect, take up or enforce, any terms of the Loan Documents or
any rights or remedies against, or securities granted by the Assignor or by any party to
the Loan Documents;
	 
	 	(iii)	 	any irregularity, invalidity or unenforceability of any obligations of the
Assignor or any party to the Loan Documents or any present or future law or order of any
government or authority (whether of right or in fact) purporting to reduce or otherwise
affect any of such obligations to the intent that the Assignor’s obligations under this
Assignment and this security shall remain in full force and this Assignment shall be
construed accordingly as if there were no such irregularity, unenforceability,
invalidity, law or order; and
	 
	 	(iv)	 	any legal limitation, disability, incapacity or other circumstances, including
bankruptcy, insolvency, liquidation, administrative or other receivership, relating to
the Assignor or any party to the Loan Documents or any other person or any amendment to
or variation of the terms of the Loan Documents or any other document or security.

	(c)	 	Provided an Enforcement Event has occurred and is continuing, the Assignor waives (i) its
right of objection pursuant to Art. 41 SchKG of first requiring the Collateral Agent to
enforce and realise the Secured Assets subject of this Assignment and (ii) any right it may
have of first requiring the Collateral Agent to enforce any guarantee, pledge or other
security before enforcing and realising this Agreement.
	 
	(d)	 	This Assignment shall be cumulative, independent of, in addition to and shall not in any way
be prejudiced by any other assignment or other security or guarantee as of the Effective Date
or thereafter held by the Collateral Agent or any other Secured Party with respect to any
Secured Obligations. None of such other securities shall prejudice, or be prejudiced by, or
shall be merged in any way with this Agreement.

- 8 -

 

	5.	 	REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS
	 
	(a)	 	The Assignor warrants and represents to the Collateral Agent that as of the Effective Date
with reference to the facts and circumstances then existing and subject to the provisions of
the Principal Finance Documents:

	 	(i)	 	the representations and warranties made by the Assignor as Loan Party in Section
3.01 (Organization; Powers), 3.02 (Authorization), 3.03 (Enforceability), 3.07 (Title to
Properties; Possession Under Leases), 3.09 (Litigation, Compliance with Laws), 3.10
(Agreements) and 3.19(d) (Security Documents) of the Credit Agreement, are true and
accurate as regards the Assignor and this Agreement, subject to limitations on
representations and warranties in the Principal Finance Documents.
	 
	 	(ii)	 	Except as permitted by the Loan Documents and the Intercreditor Arrangements, the
Assignor is and will remain, for the lifetime of this Agreement, the sole beneficial
owner of the respective Bank Account.

	(b)	 	The Assignee acknowledges that the Account Banks have pledges and rights of set-off based
upon the general terms and conditions of the Account Banks applicable to the respective Bank
Account.
	 
	6.	 	ENFORCEMENT AND APPLICATION OF PROCEEDS
	 
	(a)	 	If an Enforcement Event has occurred and is continuing, the Collateral Agent, acting for
itself and for the benefit and for the account of the Secured Parties, shall be entitled, but
not obliged, to exercise immediately all the rights and powers conferred to it under or
pursuant to this Assignment and in particular without notice to the Assignor (i) to inform the
Account Bank of the revocation of the power of attorney granted to the Assignor pursuant to
Clause 3(c) hereof and instruct the Account Bank to make no payments without the express
consent of the Collateral Agent as set forth in Schedule 3 (ii) to require payment of
any amounts standing to the credit of any Bank Account or to realize any of the Secured Assets
by private sale (“Private Verwertung”), as, in its sole and absolute discretion, is necessary
or appropriate to cover the Secured Obligations and to apply the net proceeds in settlement of
all the Secured Obligations, including, but not limited to, principal, contractual and penalty
interests, commissions, charges and costs in accordance with the terms of the Principal
Finance Documents. Any surplus following satisfaction of the Secured Obligations shall be paid
by the Collateral Agent

- 9 -

 

	 	 	to the Assignor, or to a third party, as directed in writing by the Assignor, for no
consideration.
	 
	(b)	 	The Assignor agrees with the Collateral Agent that if an Enforcement Event has occurred and
is continuing:

	 	(i)	 	the Account Bank may follow the instructions given by the sole Collateral Agent
pursuant to Clause 6(a) hereof, the Assignor waiving any objections on its part vis-à-vis
the Account Bank to follow such instructions; and
	 
	 	(ii)	 	the Assignor will do or permit to be done each and every act or thing which the
Collateral Agent may from time to time reasonably require to be done for the purpose of
enforcing the Collateral Agent’s rights under this Assignment and will allow its name to
be used as and when reasonably required by the Collateral Agent for that purpose.

	7.	 	FURTHER ASSURANCE
	 
	 	 	Subject to the Agreed Security Principles, the Assignor shall, at its own expense promptly do
(or as the case may be, refrain from doing) all acts and execute all such documents necessary
or advisable to comply and to allow for the Company to comply with its obligations under
Section 5.12 (Further Assurances) of the Credit Agreement.
	 
	8.	 	WAIVERS, REMEDIES CUMULATIVE
	 
	(a)	 	The rights, powers and remedies provided in this Assignment are cumulative and are not, nor
are they to be construed as, exclusive of any rights, powers or remedies provided by law or
otherwise.
	 
	(b)	 	No failure on the part of the Collateral Agent to exercise, or delay on its part in
exercising, any of its respective rights, powers and remedies provided by this Agreement or by
law (collectively the “Rights”) shall operate as a waiver thereof, nor shall any single or
partial waiver of any of the Rights preclude any further or other exercise of that one of the
Rights concerned or the exercise of any other of the Rights.
	 
	9.	 	INDEMNITY
	 
	 	 	To the extent set out in Section 4.11 of the First Lien Intercreditor Agreement, the Assignor
shall, notwithstanding any release or discharge of all or any part of the

- 10 -

 

	 	 	security, indemnify the Collateral Agent, its agents, its attorneys and any delegate against
any action, proceeding, claims, losses, liabilities, expenses, demands, taxes, and costs
which it may sustain as a consequence of any breach by the Assignor 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 Secured Assets.
	 
	10.	 	NO LIABILITY
	 
	 	 	None of the Collateral Agent, its nominee(s) or delegate appointed pursuant to this Agreement
shall be liable by reason of (a) taking any action permitted by this Agreement or (b) any
neglect or default in connection with the Secured Assets or (c) the taking possession or
realisation of all or any part of the Secured Assets, except to the extent provided in the
Principal Finance Documents.
	 
	11.	 	POWER OF ATTORNEY
	 
	(a)	 	The Assignor by way of security and in order to more fully secure the performance of its
obligations hereunder appoints the Collateral Agent to be its attorney acting severally, and
on its behalf and in its name or otherwise to do all acts and things and to sign, execute,
deliver, perfect and do all deeds, instruments, documents, acts and things which are required
for carrying out any obligation imposed on the Assignor by or pursuant to this Assignment for
enabling the Collateral Agent to exercise, or delegate the exercise of, its respective powers
and authorities conferred on it by or pursuant to this Agreement or by law, provided always
that the Collateral Agent may only be entitled to exercise the powers conferred upon it by the
Assignor under this Clause if:

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

	(b)	 	The Collateral Agent shall not be obliged to exercise the powers conferred upon it by the
Assignor under this Clause 11 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.

- 11 -

 

	(c)	 	The Assignor ratifies and confirms and agrees to ratify and confirm any and all acts carried
out by the Collateral Agent in the proper exercise of the powers conferred on it pursuant to
Clause 11(a) above.
	 
	12.	 	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 Assignor and the Collateral Agent,
at the respective addresses given in section (c) below and shall be effective only when
received.
	 
	(c)	 	The addresses are:

	 	(i)	 	the Assignor:

SIG Schweizerische Industrie-Gesellschaft AG

Industrieplatz

CH-8212 Neuhausen am Rheinfall

Fax: +41 52 674 65 74
	 
	 	 	 	Attention: head of legal corporate
	 
	 	 	 	with copy to:

Rank Group Limited

Level 9

148 Quay St.

Auckland, 1140

New Zealand

Fax: +64 (0) 9 366 6263

c/o: Helen Golding
	 
	 	(ii)	 	the Collateral Agent:

The Bank of New York Mellon

101 Barclay Street, 4E

New York, N.Y. 10286

Attn: International Corporate Trust

Phn: (212) 298-1528

Fax: (212) 815-5366

- 12 -

 

	 	(iii)	 	the Trustee:
	 
	 	 	 	The Bank of New York Mellon

101 Barclay Street, 4E

New York, N.Y. 10286

Attn: International Corporate Trust

Phn: (212) 298-1528

Fax: (212) 815-5366
	 
	 	(iv)	 	the Administrative Agent:
	 
	 	 	 	Credit Suisse

Agency Manager,

One Madison Avenue,

New York, NY 10010,

USA

Fax : 212-322-2291,

Email: agency.loanops@credit-suisse.com

	13.	 	THE COLLATERAL AGENT
	 
	(a)	 	The parties acknowledge that the Collateral Agent acts in its capacity as Collateral Agent
(as defined in the First Lien Intercreditor Agreement). For Swiss Law purposes, the Collateral
Agent shall be deemed to act for the benefit and for the account of each of the Secured
Parties 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.
	 
	(b)	 	The Collateral Agent shall have a full and unfettered right to assign or otherwise transfer
the whole or any part of the benefit of this Agreement to any person to whom all or any part
of its rights, benefits and obligations under the Loan Documents are assigned or transferred
in accordance with the provisions of the Loan Documents. The Collateral Agent shall be
entitled to disclose any information concerning this Agreement to any such assignee or
successor or any participant or proposed assignee, successor or participant subject to the
provisions of the Loan Documents.
	 
	14.	 	SEVERABILITY OF PROVISIONS
	 
	 	 	If, at any time, any provision of this Agreement is or becomes illegal, invalid or
unenforceable in any respect under the terms of a jurisdiction, such illegality invalidity or
unenforceability shall neither (i) affect or impair the remaining provisions of this
Agreement, nor (ii) affect or impair the legality, validity or enforceability of such
provisions in any other jurisdiction.

- 13 -

 

	15.	 	RELEASE
	 
	(a)	 	The security constituted by this Agreement shall be released and reassigned and cancelled:

	 	(i)	 	by the Collateral Agent (acting on the instruction of the Applicable
Representative) at the request and cost of the Assignor, (a) upon the Secured
Obligations being irrevocably paid or discharged in full and none of the Secured Parties
being under any further actual or contingent obligation to make advances or provide
other financial accommodation to the Assignor or any other person under any of the Loan
Documents, (b) upon the Assignor ceasing to be a Grantor or (c) upon the Assignor
entering into a separate assignment agreement that comprises the Assignment under this
Agreement; or
	 
	 	(ii)	 	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 Swiss law).

	(b)	 	Subject to the terms of the Loan Documents, any Secured Assets so to be released and
reassigned shall be delivered net of any transfer taxes or other expenses in connection with
such release and reassignment. The Collateral Agent shall not be deemed to have made any
representation or warranty with respect to any Secured Assets so released and reassigned
except that such Secured Assets are free and clear on the date of the reassignment, of any
security arising from the Collateral Agent’s and the Secured Parties’ acts.
	 
	16.	 	AMENDMENTS
	 
	 	 	To the extent permitted under the Principal Finance Documents, changes and amendments to this
Agreement, including this Clause, shall be made in writing and signed by all parties thereto.
	 
	17.	 	NON-ASSIGNMENT/DELEGATION
	 
	(a)	 	The rights, interests and obligations of the Assignor under this Assignment are personal to
it. Accordingly, they are not capable of being assigned, transferred or delegated in any
manner. The Assignor undertakes that it shall not at any time assign or transfer, or attempt
to assign or transfer, any of its rights, interests or obligations under or in respect of this
Assignment to any person.

- 14 -

 

	(b)	 	Notwithstanding the above and subject to Section 4.05 of the First Lien Intercreditor
Agreement (to the extent permitted by Swiss law), the Collateral Agent shall have full power
to delegate (either generally or specifically) the powers, authorities and discretions
conferred on it by this Agreement (including the power of attorney) on such terms and
conditions as it shall see fit which delegation shall not preclude either the subsequent
exercise, any subsequent delegation or any revocation of such power, authority or discretion
by the Collateral Agent itself.
	 
	18.	 	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 Assignment 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.
	 
	19.	 	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.

- 15 -

 

SIG Schweizerische Industrie-Gesellschaft AG, by

	 	 	 

	/s/ Philip West

	 	/s/ Mark Dunkley
	 

	 	 
	 
	 	 
	The Bank of New York Mellon, by
	 	 
	 
	 	 
	/s/ Paul Cattermole
	 	 
	Paul Cattermole
	 	 
	Vice President
	 	 
	 
	 	 

- 16 -

 

SCHEDULE 1

List of Bank Accounts

UBS AG

	 	 	 

	Bank:

	 	 
	Account Holder:

	 	SIG Schweizerische
	 

	 	Industrie-Gesellschaft
	 

	 	AG
	 
	 	 
	Address of the Account
Holder:

	 	Industrieplatz
	 
	 	 
	 

	 	CH-8212 Neuhausen am
	 

	 	Rheinfall
	 
	 	 
	Swift Code of the Bank:

	 	UBSWCHZH80A
	 
	 	 
	BC-Code of the Bank:

	 	 230
	 
	 	 
	Address of the Bank:

	 	UBS AG
	 

	 	Europastrasse 1
	 

	 	CH-8152 Opfikon
	 
	 	 

	 	 	 	 	 
	Currency	 	Account Number	 	IBAN Number
	CHF

	 	[                         ]
	 	[                                           ]

- 17 -

 

PostFinance

	 	 	 

	Bank:
	 	 
	Account Holder:

	 	SIG Schweizerische

Industrie-Gesellschaft AG
	 
	 	 
	Address of the Account Holder:

	 	Industrieplatz
	 

	 	CH-8212 Neuhausen am Rheinfall
	 
	 	 
	Swift Code:

	 	POFICHBEXXX
	 
	 	 
	BC-Code of the Bank:
	 	 
	 
	 	 
	Address of the Bank:

	 	PostFinance
	 

	 	Oberstrasse 153
	 

	 	CH-9020 St. Gallen
	 
	 	 

	 	 	 	 	 
	Currency	 	Account Number	 	IBAN Number
	CHF

	 	[                         ]
	 	[                                           ]

- 18 -

 

SCHEDULE 2

Notice To:

UBS AG

Europastrasse 1

CH-8152 Opfikon

	Re: 	 	 SIG Schweizerische Industrie-Gesellschaft AG,

account number [                           ], currency CHF

(the “Bank Accounts”)

WHEREAS

SIG Schweizerische Industrie-Gesellschaft AG has entered into an agreement to assign the Bank
Accounts (including any renewal or redesignation thereof) on or about 5th November,
2009 (the “Assignment”) with The Bank of New York Mellon, in its capacity as Collateral
Agent as defined in the Assignment pursuant to which we have assigned by way of security pursuant
to art. 164 and ff. of the Swiss Federal Code of Obligations and transferred title for security, as
the case may be, all the amounts standing to the credit of the Bank Accounts together with all
other investments, securities, fiduciary deposits and other assets as well as all rights,
entitlements, claims over or to said assets deposited in the Bank Accounts (the “Secured Assets” as
defined in the Assignment).

THEREFORE

	 	(i)	 	We inform you that under the Assignment, The Bank of New York Mellon has authorized
SIG Schweizerische Industrie-Gesellschaft AG, subject to revocation, upon the security
constituted by the Assignment being enforceable in accordance with its terms, to dispose
of and otherwise freely use the Secured Assets held in the Bank Accounts.
	 
	 	(ii)	 	The revocation of the power of attorney mentioned hereinabove under (i) shall be
made by The Bank of New York Mellon by registered mail or fax (confirmed by registered
mail) to the following address:
	 
	 	 	 	UBS AG, Europastrass 1, CH-8152 Opfikon, Attn. Daniel Cottini, Fax no ++41 (0)44 239
54 14
	 
	 	 	 	Upon revocation of the power of attorney, you may only validly discharge your
obligation in respect of the Secured Assets held in the Bank Accounts by payment to
The Bank of New York Mellon.
	 
	 	(iii)	 	We instruct you to provide to The Bank of New York Mellon, upon its request, any
copy of copies of all instructions, statements, transfers, correspondence in relation to
the Bank Accounts

- 19 -

 

We will kindly ask you to return to us the acknowledgement set forth below:

Date: 5th November, 2009

SIG Schweizerische Industrie-Gesellschaft AG:

	 	 	 

	Philip West

	 	Mark Dunkley
	 

	 	 
	 
	 	 
	 
	 	 
	Date: ___________

	 	 
	 
	The Bank of New York Mellon:
	 	 
	Paul Cattermole 

Vice President

	 	 

__________________________

We, UBS AG have taken due note of the above notice and in particular that SIG Schweizerische
Industrie-Gesellschaft AG as holder of the Bank Accounts in our books has assigned all present and
future claims against our Bank to The Bank of New York Mellon.

We have taken due note that SIG Schweizerische Industrie-Gesellschaft AG, as account holder, may
forthwith only dispose of and otherwise freely use the Secured Assets held in the Bank Accounts
only with The Bank of New York Mellon’s authorization, as Assignee. In the notice, The Bank of New
York Mellon has given us such authorization for the Bank Accounts until revocation.

Date: ___________

UBS AG:

__________________________                __________________________

- 20 -

 

Notice To:

Postfinance AG

Oberstrasse 153

CH-9020 St. Gallen

	Re: 	 	 SIG Schweizerische Industrie-Gesellschaft AG,

account number
[          ], currency CHF

(the “Bank Accounts”)

WHEREAS

SIG Schweizerische Industrie-Gesellschaft AG has entered into an agreement to assign the Bank
Accounts (including any renewal or redesignation thereof) on or about ____________ 2009
(the “Assignment”) with The Bank of New York Mellon, in its capacity as Collateral Agent as
defined in the Assignment pursuant to which we have assigned by way of security pursuant to art.
164 and ff. of the Swiss Federal Code of Obligations and transferred title for security, as the
case may be, all the amounts standing to the credit of the Bank Accounts together with all other
investments, securities, fiduciary deposits and other assets as well as all rights, entitlements,
claims over or to said assets deposited in the Bank Accounts (the “Secured Assets” as defined in
the Assignment).

THEREFORE

	 	(iv)	 	We inform you that under the Assignment, The Bank of New York Mellon has authorized
SIG Schweizerische Industrie-Gesellschaft AG, subject to revocation, upon the security
constituted by the Assignment being enforceable in accordance with its terms, to dispose
of and otherwise freely use the Secured Assets held in the Bank Accounts.
	 
	 	(v)	 	The revocation of the power of attorney mentioned hereinabove under (i) shall be
made by The Bank of New York Mellon by registered mail or fax (confirmed by registered
mail) to the following address:
Postfinance AG, Oberstrasse 153, CH-9020 St. Gallen, Attn. Manuela Wild, Fax no
++ 41 (0)71 499 54 00
	 
	 	 	 	Upon revocation of the power of attorney, you may only validly discharge your
obligation in respect of the Secured Assets held in the Bank Accounts by payment to
The Bank of New York Mellon.
	 
	 	(vi)	 	We instruct you to provide to The Bank of New York Mellon, upon its request, any
copy of copies of all instructions, statements, transfers, correspondence in relation to
the Bank Accounts

- 21 -

 

We will kindly ask you to return to us the acknowledgement set forth below:

Date: 5th November, 2009

SIG Schweizerische Industrie-Gesellschaft AG:

	 	 	 

	Philip West

	 	Mark Dunkley
	 

	 	 
	 
	 	 
	 
	 	 
	Date: ___________
	 	 
	 
	The Bank of New York Mellon:
	 	 
	Paul Cattermole
	 	 
	Vice President
	 	 
	 
	 	 

We, Postfinance AG have taken due note of the above notice and in particular that SIG
Schweizerische Industrie-Gesellschaft AG as holder of the Bank Accounts in our books has assigned
all present and future claims against our Bank to The Bank of New York Mellon.

We have taken due note that SIG Schweizerische Industrie-Gesellschaft AG, as account holder, may
forthwith only dispose of and otherwise freely use the Secured Assets held in the Bank Accounts
only with The Bank of New York Mellon’s authorization, as Assignee. In the notice, The Bank of New
York Mellon has given us such authorization for the Bank Accounts until revocation.

Date: ___________

Postfinance AG:

__________________________                __________________________

- 22 -

 

SCHEDULE 3

Notice

Dear Sirs,

Re:
Accounts nb [•] (hereinafter the “Bank Account”)

We refer
to our prior letter dated [•] and to your acknowledgement in relation thereto.

This is to inform you that we, The Bank of New York Mellon, in our capacity of Collateral Agent
have revoked the power of attorney granted to SIG Schweizerische Industrie-Gesellschaft AG on the
Bank Account.

From now on, you may only validly discharge your obligation in relation to the Bank Account by
payments in our favour pursuant to our instructions.

Thus
signed this [•] in [•]

The Bank of New York Mellon, by

__________________________

- 23 -

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