Document:

exv10w126

Exhibit 10.126

 

Agreement of Indemnification

Dated 6 July, 2011

Reynolds Group Holdings Limited

for the benefit and in favour of

the Indemnitees defined in this Agreement of Indemnification

(United States)

 

 

 

Contents

	 	 	 	 	 
	Clause	 	Page	 
	1. Definitions
	 	 	2	 
	 
	2. Indemnification
	 	 	2	 
	 
	3. Limitations on Indemnification
	 	 	2	 
	 
	4. Indemnification Procedure
	 	 	3	 
	 
	5. Severability
	 	 	3	 
	 
	6. Governing law
	 	 	4	 
	 
	7. Amendments
	 	 	4	 
	 
	8. Continuation of Agreement
	 	 	4	 

Schedule

	 	 	 	 	 

	1. Part A: U.S. Obligor
	 	 	6	 
	 
	2. Part B: List of Indemnitees
	 	 	8	 

 

 

THIS AGREEMENT OF INDEMNIFICATION is made on 6 July, 2011

BY:

Reynolds Group Holdings 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 (“RGHL”);

IN FAVOUR AND FOR THE BENEFIT OF:

Each Indemnitee (as defined below).

BACKGROUND

	A.	 	As part of the Reynolds group of companies (the “Reynolds Group”), each U.S.
Obligor (as defined below) is a guarantor and/or security provider (as relevant) in respect of the
Reynolds Group’s existing financing arrangements (the “Existing Financing
Arrangements”).
	 
	B.	 	It is currently intended that RGHL will indirectly acquire Graham Packaging Company
Inc. (“GPC”) through the merger of an indirect wholly owned subsidiary of RGHL with and into GPC,
with GPC surviving such merger and becoming an indirect wholly owned subsidiary of RGHL (the
“Acquisition”).
	 
	C.	 	In order to fund the Acquisition and the associated costs and transactions required to
effect the Acquisition, certain members of the Reynolds Group intend to incur additional
indebtedness; in connection with this additional indebtedness, the Existing Financing Arrangements
may be supplemented and/or amended (collectively, the “Financing Transactions”).
	 
	 	 	In addition, certain of the U.S. Obligors may be required to take certain steps as may be necessary
or desirable to effect corporate restructuring(s) and other steps necessary or desirable to
implement the Acquisition and may also participate in and take steps in connection with the
acquisition of certain of the GPC entities, and associated steps to fund such acquisitions, by
members of the Reynolds Group upon or following closing of the Acquisition, including, without
limitation, by way of entry into any acquisition agreement(s), loan agreements, capital increases
and/or any other related and necessary documents (the “Acquisition and Structuring
Transactions”).
	 
	 	 	Furthermore, certain of the U.S. Obligors may be required to take certain steps as may be necessary
or desirable to effect other acquisitions, dispositions, financings, refinancings or corporate
restructurings in connection with any future acquisition, disposition, financing, corporate
restructuring or any other transaction entered into by members of the Reynolds Group, including,
without limitation, by way of entry into any acquisition agreement, indenture, credit or other
financing agreement, intercreditor agreement, guarantee, security document, purchase agreement,
registration rights agreement or any

 

 

		 	other document, or any joinder to, or amendment or affirmation of, such document (each such
transaction, a “Prospective Transaction”, and collectively, the “Prospective
Transactions”).
	 
	 	 	(The Financing Transactions together with the Acquisition and Structuring Transactions and the
Prospective Transactions are, collectively, the “Transactions”, and the documents relating
to the Transactions, are collectively, the “Transaction Documents”.)
	 
	D.	 	RGHL 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 RGHL that this document be executed as an agreement (this
“Agreement”) in favour and for the benefit of each Indemnitee.

THIS AGREEMENT WITNESSES as follows:

	1. 	 	Definitions
	 
	 	 	“Indemnitee” means each person listed in Part B of the Schedule to this Agreement and,
after the date of this Agreement, any person serving as or elected to or appointed to serve as a
director or officer of a U.S. Obligor; and
	 
	 	 	“U.S. Obligor” means each company listed in Part A of the Schedule to this Agreement.
	 
	2.	 	Indemnification
	 
	 	 	Subject to an Indemnitee complying with the procedures in clause 4 below, RGHL 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 U.S. Obligor in his or her
capacity as a director or officer of that company in connection with any Transactions or the
approval or execution of any Transaction Document or associated corporate authorization or
resolutions or documents in relation to the Transactions.
	 
	3.	 	Limitations on Indemnification
	 
	 	 	Notwithstanding any other provision of this Agreement, an Indemnitee shall not be entitled to
indemnification under this Agreement:

	 	(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

2

 

	 	(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 a U.S.
Obligor or any affiliate of RGHL otherwise than pursuant to this Agreement; or
	 
	 	(e)	 	in connection with any proceeding (or part thereof) or appeal in relation to a
proceeding 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 U.S. Obligor; or
	 
	 	(iii)	 	such indemnification is provided by the relevant U.S. Obligor, in its sole
discretion, pursuant to the powers vested in the U.S. Obligor under applicable law.

	4.	 	Indemnification Procedure

	 	4.1	 	To qualify for indemnification under this Agreement, each Indemnitee shall give RGHL
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 Agreement.
	 
	 	4.2	 	To obtain indemnification payments or advances under this Agreement, an Indemnitee
shall submit to RGHL a written request therefore, together with such invoices or other supporting
information as may be reasonably requested by RGHL and reasonably available to the relevant
Indemnitee.
	 
	 	4.3	 	Subject to clauses 4.2 and 4.4, RGHL shall make such indemnification payment within
30 business days of receipt of such invoices and supporting information.
	 
	 	4.4	 	There shall be no presumption in favour of indemnification. If there is a dispute
between RGHL 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 RGHL 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 RGHL and the relevant Indemnitee.

	5.	 	Severability

	 	 	If any provision or provisions of this Agreement shall be held to be invalid, illegal or
unenforceable for any reason, the validity, legality and enforceability of the remaining provisions
of this Agreement shall not in any way be affected

3

 

		 	or impaired thereby and shall remain enforceable to the fullest extent permitted by law.

	6.	 	Governing law
	 
	 	 	This Agreement shall be governed by and its provisions construed in accordance with New York law.
	 
	7.	 	Amendments
	 
	 	 	No amendment or modification of this Agreement shall be effective unless it is approved in writing
by each Indemnitee having the benefit of this Agreement.
	 
	8.	 	Continuation of Agreement
	 
	 	 	This Agreement shall remain in effect in favor and for the benefit of each Indemnitee with respect
to any action or failure to act of such Indemnitee during the term of service of such Indemnitee as
a director or officer of the relevant U.S. Obligor, whether or not the term of service of such
Indemnitee has concluded.

4

 

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

	 	 	 	 	 
	 	Reynolds Group Holdings Limited

 	 
	 	/s/ Graeme Richard Hart
 	 
	 	Name:  	Graeme Richard Hart 	 
	 	Title:  	Director 	 
	 

	 	 	 	 	 
	 	
/s/ [ILLEGIBLE]
 	 
	 	Signature of witness 	 
	 	 	 
	 	
General MGR
 	 
	 	Occupation 	 
	 	 	 
	 	
Sydney
 	 
	 	City of Residence 	 
	 	 	 

5

 

	 	 	 	 	 

Schedule

Part A

U.S. Obligor

	•	 	Baker’s Choice Products, Inc.
	 
	•	 	Blue Ridge Holding Corp.
	 
	•	 	Blue Ridge Paper Products Inc.
	 
	•	 	BRPP, LLC
	 
	•	 	Closure Systems International Americas, Inc.
	 
	•	 	Closure Systems International Holdings Inc.
	 
	•	 	Closure Systems International Inc.
	 
	•	 	Closure Systems International Packaging Machinery Inc.
	 
	•	 	Closure Systems Mexico Holdings LLC
	 
	•	 	CSI Mexico LLC
	 
	•	 	CSI Sales & Technical Services Inc.
	 
	•	 	Dopaco, Inc.
	 
	•	 	Evergreen Packaging Inc.
	 
	•	 	Evergreen Packaging International (US) Inc.
	 
	•	 	Evergreen Packaging USA Inc.
	 
	•	 	Newspring Industrial Corp.
	 
	•	 	Pactiv Corporation
	 
	•	 	Pactiv Factoring LLC
	 
	•	 	Pactiv Germany Holdings, Inc.
	 
	•	 	Pactiv International Holdings Inc.
	 
	•	 	Pactiv Management Company LLC
	 
	•	 	Pactiv Retirement Administration LLC

6

 

	•	 	Pactiv RSA LLC
	 
	•	 	PCA West Inc.
	 
	•	 	Prairie Packaging, Inc.
	 
	•	 	PWP Holdings, Inc.
	 
	•	 	PWP Industries, Inc.
	 
	•	 	Reynolds Consumer Products Holdings Inc.
	 
	•	 	Reynolds Consumer Products, Inc.
	 
	•	 	Reynolds Flexible Packaging Inc.
	 
	•	 	Reynolds Foil Inc.
	 
	•	 	Reynolds Food Packaging LLC
	 
	•	 	Reynolds Group Holdings Inc.
	 
	•	 	Reynolds Group Issuer Inc.
	 
	•	 	Reynolds Group Issuer LLC
	 
	•	 	Reynolds Packaging Inc.
	 
	•	 	Reynolds Packaging Kama Inc.
	 
	•	 	Reynolds Packaging LLC
	 
	•	 	Reynolds Services Inc.
	 
	•	 	Southern Plastics Inc.
	 
	•	 	Ultra Pac, Inc.

7

 

PartB 

List of Indemnitees

	•	 	Gregory Alan Cole
	 
	•	 	Helen Dorothy Golding
	 
	•	 	Allen Philip Hugli
	 
	•	 	Thomas James Degnan
	 
	•	 	Michael Eugene Graham
	 
	•	 	Robert Lennart Larson
	 
	•	 	Paul Donald Thomas
	 
	•	 	Bruce P. Miller
	 
	•	 	Daniel Cochran
	 
	•	 	Charles Thomas Cox
	 
	•	 	Victor Lance Mitchell
	 
	•	 	Robert Eugene Smith
	 
	•	 	Carol A. Rod
	 
	•	 	Gary A. Thomas
	 
	•	 	Rita M. Cox
	 
	•	 	Gino Mangione
	 
	•	 	Malcolm Peter Bundey
	 
	•	 	Ricardo Felipe Alvergue
	 
	•	 	Cindi Lefari
	 
	•	 	Joseph Benjamin Hanks
	 
	•	 	Lawrence Michael Tuskey
	 
	•	 	John P. Rooney
	 
	•	 	John T. McGrath
	 
	•	 	Joseph E. Doyle
	 
	•	 	Jay Scott Barnes
	 
	•	 	Deirdre C. Brekke
	 
	•	 	Daniel H. Shulman
	 
	•	 	Jacquelyne L. Huerta
	 
	•	 	Erick R. Opsahl
	 
	•	 	Gregory A. Hanson
	 
	•	 	Corey ZX Chen

8

 

	•	 	Clifford T. Hew
	 
	•	 	Mark Joseph Dunkley
	 
	•	 	David L. Klas
	 
	•	 	Timothy A. Levenda
	 
	•	 	Alan H. Forbes
	 
	•	 	Donald E. King
	 
	•	 	Sandra Gleason
	 
	•	 	Wayne Bosch
	 
	•	 	Craig Cappel
	 
	•	 	Joseph P. Berley
	 
	•	 	Kevin P. Quinn
	 
	•	 	William M. Dutt
	 
	•	 	Thomas F. Donohue
	 
	•	 	Stephen M. Pace
	 
	•	 	Petro Kowalskyj
	 
	•	 	Stefan Beese
	 
	•	 	Stephen C. Thate
	 
	•	 	Stephan M. Patyk

9exv10w127

	 	 	 	 	 

Exhibit 10.127

Letter of Indemnification

Dated 5 October 2011

Reynolds Group Holdings Limited

for the benefit and in favour of

the Indemnitees defined in this Letter of Indemnification

(Austria — SIG)

 

 

Contents

	 	 	 	 	 
	Clause	 	Page	 
	1. Definitions 
	 	 	2	 
	2. Indemnification 
	 	 	2	 
	3. Limitations on Indemnification
	 	 	3	 
	4. Indemnification Procedure
	 	 	3	 
	5. Severability
	 	 	3	 
	6. Governing law and jurisdiction 
	 	 	4	 
	7. Amendments 
	 	 	4	 
	 
	 	 	 	 
	Schedule
	 	 	 	 
	 
	 	 	 	 
	1. Part A: Austrian Obligor 
	 	 	7	 
	2. PartB: List of Indemnitees 
	 	 	8	 

 

 

THIS LETTER OF INDEMNIFICATION is made on          October 2011

BY:

Reynolds Group Holdings 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 (“RGHL”);

IN FAVOUR AND FOR THE BENEFIT OF:

Each Indemnitee (as defined below).

BACKGROUND

	A.	 	As part of the Reynolds group of companies (the “Reynolds Group”), each
Austrian Obligor (as defined below) is a borrower, guarantor and/or a security
provider (as relevant) in respect of the Reynolds Group’s existing financing
arrangements (the “Existing Financing Arrangements”).
	 
	B.	 	On 8 September 2011, RGHL acquired Graham Packaging Company Inc.
(“GPC”) through the merger of an indirect wholly owned subsidiary of RGHL
with and into GPC, with GPC surviving such merger and becoming an indirect
wholly owned subsidiary of RGHL (the “Acquisition”).
	 
	C.	 	In order to fund the Acquisition and the associated costs and transactions
required to effect the Acquisition, certain members of the Reynolds Group
incurred additional indebtedness. In connection with this additional
indebtedness, the Existing Financing Arrangements were supplemented and/or
amended (collectively, the “Financing Transactions”)
	 
	D.	 	In addition, certain of the Austrian Obligors may be required to take certain
steps as may be necessary or desirable to effect corporate restructuring(s) and
other steps necessary or desirable following the Acquisition, including,
without limitation, by way of entry into any acquisition agreement(s), loan
agreements, capital increases and/or any other related and necessary
documents (the “Acquisition and Structuring Transactions”).
	 
	E.	 	Furthermore, certain of the Austrian Obligors may be required to take certain
steps as may be necessary or desirable to effect other acquisitions,
dispositions, financings, refinancings or corporate restructurings in connection
with any future acquisition, disposition, financing, corporate restructuring or
any other transaction entered into by members of the Reynolds Group,
including, without limitation, by way of entry into any acquisition agreement,
indenture, credit or other financing agreement, intercreditor agreement,
guarantee, security document, purchase agreement, registration rights
agreement or any other document, or any joinder to, or amendment or

 

 

	 	 	affirmation of, such document (each such transaction, a “Prospective Transaction”,
and collectively, the “Prospective Transactions”),
	 
	 	 	(The Financing Transactions together with the Acquisition and Structuring Transactions and
the Prospective Transactions are, collectively, the “Transactions”, and the
documents relating to the Transactions, are collectively, the “Transaction
Documents”.).
	 
	F.	 	RGHL 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 RGHL 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
	 
	 	 	“Austrian Obligor” means each company listed in Part A to the Schedule to this
Letter of Indemnification.
	 
	 	 	“Director” means any managing director (Geschäftsführer) or supervisory board
member (Aufsichtsratsmitglied) of SIG Austria Holding GmbH, SIG Combibloc GmbH and SIG
Combibloc GmbH & Co. KG.
	 
	 	 	“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 Austrian Obligor of
which an Indemnitee is a Director.
	 
	2.	 	Indemnification
	 
	 	 	Subject to an Indemnitee complying with the procedures in clause 4 below, RGHL 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 in connection with any
Transactions or the approval or execution of any Transaction Document or associated
corporate authorisation or 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:

2

 

	 	(a)	 	to the extent that such indemnification is not permitted by applicable
laws; or
	 
	 	(b)	 	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 RGHL any related payments claims under such
insurance policy; or
	 
	 	(c)	 	to the extent that payment has or will be made to the relevant Indemnitee
by the relevant Indemnitee Company or any affiliate of RGHL otherwise than pursuant
to this Letter of Indemnification.

	4.	 	Indemnification Procedure
	 
	4.1.	 	To qualify for indemnification under this Letter of Indemnity, each Indemnitee shall give
RGHL 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.
	 
	4.2.	 	To obtain indemnification payments or advances under this Letter of Indemnification, an
Indemnitee shall submit to RGHL a written request therefore, together with such invoices or
other supporting information as may be reasonably requested by RGHL and reasonably available
to the relevant Indemnitee.
	 
	4.3.	 	Subject to clauses 4.2 and 4.4, RGHL shall make such indemnification payment within 10
business days of receipt of such invoices and supporting information.
	 
	4.4.	 	Each Indemnitee shall be obliged as soon as practicable to claim his rights under any
applicable insurance policy and shall assign to RGHL any related payments claims under such
insurance policy. However, this clause 4.4 does not affect the Indemnitee’s right to
indemnification under clause 2 above.
	 
	4.5.	 	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 clause 4.4.
	 
	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 Austrian law. For the benefit of each Indemnitee, RGHL submits to the
non-exclusive jurisdiction of the courts of

3

 

	 	 	Austria 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.
	 
	8.	 	Continuation of Agreement
	 
	 	 	This Letter of Indemnification shall remain in effect in favour and for the benefit of each
Indemnitee with respect to any action or failure to act of such Indemnitee during the term
of service of such Indemnitee as a Director of the relevant Indemnitee Company, whether or
not the term of service of such Indemnitee has concluded.

4

 

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.

	 	 	 	 	 
	 	Reynolds Group Holdings Limited

 	 
	 	/s/ Gregory Cole
 	 
	 	Name:  	Gregory Cole 	 
	 	 	 

	 	 	 	 	 
	 	[ILLEGIBLE]	 
	 	Signature of witness 	 
	 
	 	Secretary	 
	 	Occupation 	 
	 
	 	Devonport, Auckland	 
	 	City of Residence 	 
	 	 	 

5

 

	 	 	 	 	 

Schedule

Part A

Austrian Obligor

SIG Austria Holding GmbH

SIG Combibloc GmbH & Co. KG

SIG Combibloc GmbH

6

 

Part B

List of Indemnitees

	•	 	Marco Haussener
	 
	•	 	Rolf Stangl
	 
	•	 	André Rosenstock
	 
	•	 	Wolfgang Ornig
	 
	•	 	Holger Christian Dickers
	 
	•	 	Dieter Koch
	 
	•	 	Annelies Schell
	 
	•	 	Philipp Trixl
	 
	•	 	Heinz Gasser

7

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