Document:

exv4w337

EXHIBIT 4.337

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.

DATED 1 FEBRUARY 2011

BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) I S.A.

AND

THE BANK OF NEW YORK MELLON

AS COLLATERAL AGENT

 

DEED OF CONFIRMATION AND AMENDMENT

 

 

 

THIS DEED is made the 1st day of February 2011

BETWEEN:

	(1)	 	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) I S.A., a société anonyme incorporated under
Luxembourg law with registered office at 6C, rue Gabriel Lippmann, L-5365 Munsbach,
Grand-duchy of Luxembourg registered with the Luxembourg register of commerce and companies
under the number B128.592 (the “Assignor”); and
	 
	(2)	 	THE BANK OF NEW YORK MELLON in its capacity as collateral agent as appointed under the First
Lien Intercreditor Agreement for the Secured Parties (the “Collateral Agent”)

WHEREAS:

	(A)	 	The Assignor has entered into the security assignment of contractual rights under a specific
contract dated 23 February 2010 and as subsequently amended by a deed of confirmation and
amendment dated 16 November 2010 granted by Beverage Packaging Holdings (Luxembourg) I S.A. in
favour of the Collateral Agent (the “Security Assignment”) pursuant to (i) a credit agreement
dated as of 5 November 2009 (as subsequently amended) between among others Reynolds Group
Holdings Inc., Reynolds Consumer Products Holdings Inc., Closure Systems International
Holdings Inc., SIG Euro Holding AG & Co KGaA, SIG Austria Holding GmbH, Reynolds Group
Holdings Limited, Closure Systems International BV, Pactiv Corporation, the other borrowers
party thereto, the lenders from time to time parties thereto, and Credit Suisse AG as
administrative agent (the “Credit Agreement”), (ii) an indenture dated 5 November 2009 between
Reynolds Group Escrow LLC, Reynolds Group DL Escrow Inc. and The Bank of New York Mellon, as
trustee, principal paying agent, transfer agent and collateral agent, as modified, amended or
supplemented from time to time (the “2009 Senior Secured Notes Indenture”) and (iii) an
indenture dated 15 October 2010 and entered into between, among others, RGHL US Escrow I Inc.,
RGHL US Escrow I LLC and RGHL Escrow Issuer (Luxembourg) I S.A. and The Bank of New York
Mellon, as trustee, principal paying agent, transfer agent, registrar and collateral agent and
Wilmington Trust (London) Limited as additional collateral agent (the “2010 Senior Secured
Notes Indenture”).
	 
	(B)	 	In connection with the Credit Agreement, the 2009 Senior Secured Notes Indenture and the 2010
Senior Secured Notes Indenture certain parties to those documents have entered into a first
lien intercreditor agreement dated 5 November 2009 (as subsequently amended) between among
others The Bank of New York Mellon as collateral agent and representative under the indenture,
Credit Suisse AG as representative under the credit agreement, Wilmington Trust (London)
Limited as an additional collateral agent and each grantor that are parties thereto (the
“First Lien Intercreditor Agreement”).
	 
	(C)	 	Pursuant to an indenture (the “February 2011 Senior Secured Notes Indenture”) dated 1
February 2011 and entered into between, among others, the Issuers (as defined therein) (the
“Issuers”) and The Bank of New York Mellon, as trustee, principal paying agent, transfer
agent, registrar and collateral agent and Wilmington Trust

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	 	 	(London) Limited as additional collateral agent, certain secured notes (the “February 2011
Senior Secured Notes”) were issued by the Issuers.
	 
	(D)	 	The obligations in respect of the February 2011 Senior Secured Notes and any Senior Secured
Note Documents (as defined therein) will or have been designated as “Additional Obligations”
under, and in accordance with, section 5.02(c) of the First Lien Intercreditor Agreement (the
“Secured Notes Designation”).
	 
	(E)	 	As a consequence of the execution of the February 2011 Senior Secured Notes Indenture it is
necessary for the Assignor to make certain minor amendments to the Security Assignment, and
enter into this Deed.

NOW THE PARTIES HEREBY AGREE:

	1.	 	In this Deed (including its recitals), unless otherwise defined herein terms defined in the
First Lien Intercreditor Agreement shall have the same meaning when used in this Deed.
	 
	2.	 	With effect from the date of this Deed, the Security Assignment shall be amended as follows:

	 	(a)	 	In Clause 1.1 (Definitions) the following new definition of “February 2011
Issuers” shall be inserted in alphabetical order:
	 
	 	 	 	““February 2011 Issuers” means the “Issuers” under, and as defined in, the February
2011 Senior Secured Notes Indenture, including their successors in interest.”
	 
	 	(b)	 	In Clause 1.1 (Definitions) the following new definition of “February 2011 Senior
Secured Notes Indenture” shall be inserted in alphabetical order:
	 
	 	 	 	““February 2011 Senior Secured Notes Indenture” means the indenture dated 1 February
2011 among the February 2011 Issuers and The Bank of New York Mellon, as trustee,
principal paying agent, transfer agent, registrar and collateral agent and
Wilmington Trust (London) Limited as additional collateral agent, as amended,
extended, restructured, renewed, refunded, novated, supplemented, restated, replaced
or modified from time to time.”
	 
	 	(c)	 	In Clause 1.1 (Definitions) the existing definition of “Agreed Security
Principles” shall be deleted and replaced by the following:
	 
	 	 	 	““Agreed Security Principles” has the meaning it is given in the Credit Agreement
and the 2009 Senior Secured Notes Indenture and to the extent of any inconsistency
the meaning it is given in the Credit Agreement shall prevail.”
	 
	 	(d)	 	In Clause 1.1 (Definitions) the existing definition of “Credit Agreement” shall
be deleted and replaced by the following:
	 
	 	 	 	““Credit Agreement” means the Credit Agreement dated 5 November 2009 among Reynolds
Group Holdings Inc., Reynolds Consumer Products Holdings

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	 	 	 	Inc., SIG Euro Holding AG & Co. KGaA, Closure Systems International Holdings Inc.,
Closure Systems International B.V., Pactiv Corporation and SIG Austria Holding GmbH
as borrowers, Reynolds Group Holdings Limited, the lenders from time to time party
thereto and Credit Suisse AG (formally known as Credit Suisse) as administrative
agent, as amended by amendment agreements dated 21 January 2010, 4 May 2010 and 30
September 2010 and as further amended, extended, restructured, renewed, novated,
supplemented, restated, refunded, replaced or modified from time to time.”
	 
	 	(e)	 	In Clause 1.1 (Definitions) the existing definition of “First Lien
Intercreditor Agreement” shall be deleted and replaced by the following:
	 
	 	 	 	“First Lien Intercreditor Agreement” mean the First Lien Intercreditor Agreement
dated 5 November 2009 between, among others, the Collateral Agent, The Bank of New
York Mellon, as trustee under the 2009 Senior Secured Notes Indenture, the 2010
Senior Secured Notes Indenture and the February 2011 Senior Secured Notes Indenture,
Credit Suisse AG (formally known as Credit Suisse) as administrative agent under the
Credit Agreement, and the Loan Parties, as further amended, novated, supplemented,
restated or modified from time to time.”
	 
	 	(f)	 	In Clause 1.1 (Definitions) the existing definition of “Principal Finance
Documents” shall be deleted and replaced by the following:
	 
	 	 	 	““Principal Finance Documents” means the Credit Agreement, the 2009 Senior Secured
Notes Indenture, the 2010 Senior Secured Notes Indenture, the February 2011 Senior
Secured Notes Indenture, the Intercreditor Arrangements and any Additional
Agreement.”
	 
	 	(g)	 	Clause 7(b) (Further Advances) shall be deleted in its entirety and replaced with
the following:
	 
	 	 	 	“7(b)(i) Subject to the terms of the Loan Documents, each 2009 Issuer may issue
Additional Notes (as defined in the 2009 Senior Secured Notes Indenture) and the
obligations in respect if such Additional Notes will be deemed to be
incorporated into this Agreement as if set out in this Agreement.
	 
	 		 	(ii) Subject to the terms of the Loan Documents, each 2010 Issuer may issue
Additional Notes (as defined in the 2010 Senior Secured Notes Indenture) and the
obligations in respect of such Additional Notes will be deemed to be incorporated
into this Agreement as if set out in this Agreement.
	 
	 		 	(iii) Subject to the terms of the Loan Documents, each February 2011 Issuer may
issue Additional Notes (as defined in the February 2011 Senior Secured Notes
Indenture) and the obligations in respect of such Additional Notes will be deemed to
be incorporated into this Agreement as if set out in this Agreement.”

	3.	 	The Assignor confirms that, with effect from the date of this Deed, the Security Assignment
shall continue in full force and effect as amended by this Deed and

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	 	 	extends to the obligations in respect of the new Additional Agreements (as defined in the
First Lien Intercreditor Agreement) as a result of the Secured Notes Designation.
	 
	4.	 	The Assignor hereby represents that it has not registered one or more “establishments” (as
that term is defined in regulation 2 of Part 1 of The Overseas Companies Regulations 2009)
with the Registrar of Companies or, if it has so registered, it has provided to the Applicable
Representative and the Collateral Agent sufficient details to enable an accurate search
against it to be undertaken by the Secured Parties at the Companies Registry.
	 
	5.	 	This Deed is supplemental to and shall be construed as one with the Security Assignment and
all documents or instruments which are expressed to supplement the Security Assignment shall
be construed accordingly.
	 
	6.	 	This Deed may be executed in two or more counterparts each of which shall be deemed an
original but which together shall constitute one and the same instrument.
	 
	7.	 	This Deed and any non-contractual obligations arising out of or in connection with it shall
be governed by and construed in accordance with English law.
	 
	8.	 	The courts of England have exclusive jurisdiction to settle any dispute (a “Dispute”) arising
out of, or connected with this Deed (including a dispute regarding the existence, validity or
termination of this Deed or the consequences of its nullity) or any non-contractual
obligations arising out of or in connection with this Deed.
	 
	9.	 	The parties agree that the courts of England are the most appropriate and convenient courts
to settle Disputes between them and, accordingly, that they will not argue to the contrary.
	 
	10.	 	Clauses 8 to 10 (inclusive) of this Deed are for the benefit of the Collateral Agent only. As
a result and notwithstanding Clause 8, it does not prevent the Collateral Agent from taking
proceedings relating to a Dispute in any other courts with jurisdiction. To the extent allowed
by law, the Collateral Agent may take concurrent proceedings in any number of jurisdictions.

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IN WITNESS whereof this Deed has been duly executed as a deed by the Assignor and understood by the
Collateral Agent on the day and year first before written.

	 	 	 	 	 	 	 

	The Assignor
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Signed as a deed by

	 	 	)	 	 	 
	Karen Mower

	 	 	)	 	 	 
	 
	 	 	 	 	 	 
	as attorney for

	 	 	)	 	 	 
	Beverage Packaging Holdings (Luxembourg) I S.A.

	 	 	)	 	 	/s/ Karen Mower
	 
	 	 	 	 	 	 
	The Collateral Agent
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Signed by

THE BANK OF NEW YORK MELLON

	 	 	)

)	 	 	 

	 	 	 	 	 
	 	 	 
	By:  	                              /s/ Catherine F. Donohue
 	 	 
	 	Name:  	Catherine F. Donohue 	 	 
	 	 	 	 

	 	 	 

	Address:

	 	The Bank of New York Mellon

101 Barclay Street, Floor 4E, New York, NY 10286, USA
	 
	 	 
	Fax:

	 	+1 212 815 5366
	 
	 	 
	Attention:

	 	International Corporate Trust

-5-exv4w338

EXHIBIT 4.338

Confirmation and Amendment Agreement

dated 1 February 2011

between

BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) III S.à r.l.

SIG COMBIBLOC GROUP AG

(collectively the “Confirming Grantors”)

and

THE BANK OF NEW YORK MELLON

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

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

(the “Collateral Agent”)

relating to

the Swiss law security documents as listed and described in Schedule 1 hereto respectively

entered into by the Confirming Grantors and the Collateral Agent acting for itself and for the

benefit and for the account of the Secured Parties in connection with the Loan Documents.

The taking of this document or any certified copy of it or any document which constitutes
substitute documentation for it, or any document which includes written confirmations or references
to it, into Austria as well as printing out any e-mail communication which refers to any Loan
Document in Austria or sending any e-mail communication to which a pdf scan of this document is
attached to an Austrian addressee or sending any e-mail communication carrying an electronic or
digital signature which refers to any Loan Document to an Austrian addressee may cause the
imposition of Austrian stamp duty. Accordingly, keep the original document as well as all certified
copies thereof and written and signed references to it outside of Austria and avoid printing out
any email communication which refers to any Loan Document in Austria or sending any e-mail
communication to which a pdf scan of this document is attached to an Austrian addressee or sending
any e-mail communication carrying an electronic or digital signature which refers to any Loan
Document to an Austrian addressee.

BOREL & BARBEY

Geneva

 

 

			
	
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THIS CONFIRMATION AND AMENDMENT AGREEMENT is entered into as of the Effective Date (as
defined in Clause 2 below) and entered BETWEEN:

	(1)	 	Beverage Packaging Holdings (Luxembourg) III S.à r.l., a private limited liability company
(société à responsabilité limitée) incorporated under the laws of Luxembourg and having its
registered office at 6C, rue Gabriel Lippmann, L-5365 Munsbach, Grand Duchy of Luxembourg,
registered in the Luxembourg register of commerce and companies under file number B 128135,
having a share capital of EUR 404,969,325;
	 
	(2)	 	SIG Combibloc Group AG, a company limited by shares incorporated under the laws of
Switzerland, having its registered office at Laufengasse 18, 8212 Neuhausen am Rheinfall,
Switzerland and registered in the Commercial Register of the Canton of Schaffhausen with the
federal register number CH-290.3.004.149-2;
	 
	 	 	(the entities under (1) and (2) collectively, the “Confirming Grantors”; the entity under
(2), the “Swiss Confirming Grantor”), on the one part;
	 
	 	 	and
	 
	(3)	 	The Bank of New York Mellon, having its business address at 1, Wall Street, New York, N.Y.
10286, The United States of America, acting under the First Lien Intercreditor Agreement (as
defined below) as Collateral Agent for itself and for the benefit and for the account of the
Secured Parties (as defined in the applicable Security Documents) (the “Collateral Agent”), on
the other part.

RECITALS

	(A)	 	Pursuant to a credit agreement (the “Credit Agreement”) dated November 5, 2009 made
between inter alia Reynolds Group Holdings Inc. (“RGHI”), Reynolds
Consumer Products Holdings Inc., SIG Euro Holding AG & Co. KG aA, Closure Systems
International Holdings Inc., Closure Systems International B.V., Pactiv Corporation and SIG
Austria Holding GmbH as borrowers (“the Borrowers”), Reynolds Group
Holdings Limited, certain Confirming Grantors as current guarantors, the lenders from time to
time party thereto, and Credit Suisse AG, Cayman Islands Branch (formerly known as Credit
Suisse, Cayman Islands Branch), as administrative agent (the “Administrative Agent”), as
amended by Amendment No. 1 dated as of January 21, 2010, as further amended by an Amendment
No. 2 and Incremental Term Loan

 

 

			
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	 	 	Assumption Agreement dated as of May 4, 2010 (the “Amendment No. 2”) and as further amended
by an Amendment No. 3 and Incremental Term Loan Assumption Agreement dated as of September
30, 2010 (the “Amendment No. 3”) certain facilities were made available to the Borrowers on
the terms and conditions thereof.
	 
	(B)	 	Pursuant to a senior secured note indenture dated November 5, 2009 (the “2009 Senior Secured
Note Indenture”) as supplemented by various supplemental indentures entered into on or before
the date of this Agreement among inter alia Reynolds Group Issuer (Luxembourg) S.A., Reynolds
Group Issuer LLC and Reynolds Group Issuer Inc. (collectively, the “Issuers”), the Note
Guarantors (as defined therein) and The Bank of New York Mellon, as trustee (the “Trustee”)
certain senior secured notes due 2016 were issued to certain noteholders on the terms and
conditions thereof.
	 
	(C)	 	Pursuant to a first lien intercreditor agreement dated November 5, 2009 among The Bank of New
York Mellon as collateral agent and as trustee, the Administrative Agent and, among others,
the Confirming Grantors, as amended by Amendment No. 1 dated as of January 21, 2010 (which
added Wilmington Trust (London) Limited as a collateral agent under the first lien
intercreditor agreement) (the “First Lien Intercreditor Agreement”), The Bank of New York
Mellon and, later, Wilmington Trust (London) Limited were appointed each as a Collateral Agent
(as defined therein) with regard to, among other things, the acquisition, holding and
enforcement of Liens on Collateral (both as defined in therein).
	 
	(D)	 	Pursuant to a senior secured note indenture dated October 15, 2010 (the “2010 Senior Secured
Note Indenture”) as supplemented by various supplemental indentures entered into on or before
the date of this Agreement among inter alia RGHL US Escrow I Inc., RGHL US Escrow I LLC and
RGHL Escrow Issuer (Luxembourg) I S.A., the Note Guarantors (as defined therein) and The Bank
of New York Mellon, as trustee, principal paying agent, transfer agent, registrar and
collateral agent and Wilmington Trust (London) Limited as additional collateral agent, certain
senior secured notes due 2019 were issued to certain noteholders on the terms and conditions
thereof.
	 
	(E)	 	The Credit Agreement, the 2009 Senior Secured Note Indenture, the 2010 Senior Secured Note
Indenture and the First Lien Intercreditor Agreement were supplemented several times by means
of guarantor joinders to the Credit Agreement (which also provide for the accession to the
First Lien Intercreditor Agreement) and supplemental indentures (see also recital (B)) to the
2009 Senior Secured Note Indenture and

 

 

			
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	 	 	supplemental indentures (see also recital (D)) to the 2010 Senior Secured Note Indenture.
	 
	(F)	 	Pursuant to the Principal Finance Documents, the Parties hereto (and, as applicable, SIG
Finanz AG (see recital (J) below) respectively have entered into the Swiss law security
documents as listed and described in Schedule 1 hereto (the “Security Documents”) over certain
assets respectively owned by the Confirming Grantors in order to secure the performance of the
Secured Obligations.
	 
	(G)	 	RGHI, the Borrowers, the Guarantors from time to time party thereto (as defined therein), the
Lenders from time to time party thereto, the Incremental U.S. Term Lenders (as defined
therein), the other Lenders party thereto and the Administrative Agent, among others, have
entered into the Amendment No. 2 relating to the Credit Agreement and pursuant to which (i)
the Credit Agreement has been amended to inter alia increase the incremental term facilities
from an amount of USD 400,000,000 to an amount of USD 1,550,000,000 and (ii) certain
incremental term lenders have agreed to make available incremental term loans in an amount of
USD 800,000,000 to the Borrowers.
	 
	(H)	 	RGHI, the Borrowers, the Guarantors from time to time party thereto (as defined therein), the
Lenders from time to time party thereto and the Administrative Agent, among others, have
entered into the Amendment No. 3 relating to the Credit Agreement and pursuant to which the
Credit Agreement has been amended to, inter alia, add an incremental tranche A facility of up
to USD 500,000,000 and an incremental tranche D facility of up to USD 1,520,000,000.
	 
	(I)	 	The Confirming Grantors (and SIG Finanz AG), among others, have entered into Swiss
law-governed confirmation and amendment agreements dated May 4, 2010 and November 16, 2010
respectively pursuant to which, among other provisions, each of the Confirming Grantors has
confirmed that the obligations of the Credit Agreement as amended under the Amendment No. 2
and the Amendment No. 3 respectively and the obligations of the 2010 Senior Secured Note
Indenture are also secured by the security interest created by the Security Documents to which
it is a party.
	 
	(J)	 	Pursuant to a Swiss statutory merger between SIG Combibloc Group AG and SIG Finanz AG which
became effective as of June 15, 2010 (the “Swiss Merger”), all of the rights and obligations
of SIG Finanz AG have been assumed by, and transferred to, SIG Combibloc Goup AG by operation
of law. Therefore, all confirmations and

 

 

			
	
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	 	 	amendments under this Agreement in respect of Security Documents originally entered into by
SIG Finanz AG shall be given by SIG Combibloc Group AG, but for (i) the non-accessory Swiss
receivables assignment agreement and Swiss bank account assignment agreement to which SIG
Finanz AG was a party and which terminated due to the combination of the receivables / bank
accounts of SIG Combibloc Group AG with the receivables / bank accounts of the former SIG
Finanz AG and (ii) the accessory Swiss share pledge over the shares of SIG Finanz AG to which
SIG Combibloc Group AG was a party and which terminated due to the cancellation of the shares
of SIG Finanz AG, all as detailed, inter alia, in Schedule 1 hereto.
	 
	(K)	 	Pursuant to a senior secured notes indenture dated on or about the Effective Date (the
“February 2011 Senior Secured Notes Indenture”) entered into among inter alia the Issuers and
the Trustee, as trustee, principal paying agent, registrar and collateral agent and Wilmington
Trust (London) Limited as additional collateral agent, certain senior secured notes due 2021
(the “February 2011 Senior Secured Notes”) were issued by the Issuers to certain noteholders
on the terms and conditions thereof.
	 
	(L)	 	On or about the Effective Date, the February 2011 Senior Secured Notes Indenture and any
Senior Secured Note Documents (as defined in the February 2011 Senior Secured Notes Indenture)
each became an “Additional Agreement” under the First Lien Intercreditor Agreement as a result
of the designation of the obligations with respect of the February 2011 Senior Secured Note
Indenture and any Senior Secured Note Documents (as defined in the February 2011 Senior
Secured Notes Indenture) as “Additional Obligations” under Section 5.02 (c) of the First Lien
Intercreditor Agreement (the “February 2011 Senior Secured Notes Designation”). The Swiss
Confirming Grantor has consented to the February 2011 Senior Secured Notes Designation in
writing in its resolutions of the board of directors approving — inter alia — this
Agreement.
	 
	 	 	In this respect, it should be noted that the definition of “Loan Documents” in each Security
Document (which is defined to include the “Credit Documents” under, and as defined in, the
First Lien Intercreditor Agreement) extends to any “Additional Agreement” (as defined in the
First Lien Intercreditor Agreement).
	 
	(M)	 	Concurrently with this Agreement, the Confirming Grantors, among others, have entered into a
New York law governed reaffirmation agreement dated as of the date hereof in respect of the
non-Swiss law security to which each Confirming Grantor is a party and pursuant to which,
among other provisions, each of the Confirming Grantors

 

 

			
	
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	 	 	has confirmed and reaffirmed that its respective non-Swiss law security extends to the
Additional Obligations as a result of the February 2011 Senior Secured Notes Designation.
	 
	(N)	 	The Confirming Grantors and the Collateral Agent (acting for itself and for the benefit and
for the account of the Secured Parties) (collectively, the “Parties” and each a “Party”) have
agreed to enter into this Agreement in order to ensure that the Security Documents continue to
secure the Secured Obligations and extend to all obligations of the Confirming Grantors in
connection with the February 2011 Senior Secured Notes Designation.

NOW IT IS HEREBY AGREED as follows:

	1.	 	DEFINITIONS AND CONSTRUCTION
	 
	(a)	 	Unless defined otherwise herein, capitalized terms and expressions used herein shall have
the meaning ascribed to them in the Security Documents.
	 
	(b)	 	The Parties agree that this Agreement shall be deemed a “Security Document” for the purposes
of and as defined in the First Lien Intercreditor Agreement (and for no other purpose) and
that, accordingly, all rights, duties, privileges, protections, indemnities and benefits of
the Collateral Agent set forth in the First Lien Intercreditor Agreement are hereby
incorporated by reference.
	 
	2.	 	EFFECTIVE DATE
	 
	 	 	This Agreement is effective as of the date set forth on its front page (the “Effective
Date”).
	 
	3.	 	CONFIRMATION — AMENDMENT
	 
	 	 	Each Party hereby confirms and agrees that any and all Obligations (as defined in the First
Lien Intercreditor Agreement and thus including any and all obligations that are “Additional
Obligations” as a result of the February 2011 Senior Secured Notes Designation) constitute
“Secured Obligations” as set forth and defined in the Security

 

 

			
	
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	 	 	Documents to which it is a party and that, therefore, any and all obligations under or in
connection with the February 2011 Senior Secured Notes Indenture and the February 2011 Senior
Secured Note Documents (as defined in the February 2011 Senior Secured Notes Indenture),
shall also be secured by the security interest created by and pursuant to the Security
Documents to which it is a party.
	 
	4.	 	CONTINUITY
	 
	 	 	Each Party hereby confirms that, notwithstanding the effectiveness of the February 2011
Senior Secured Notes Designation, the February 2011 Senior Secured Notes Indenture and the
February 2011 Senior Secured Note Documents (as defined in the February 2011 Senior Secured
Notes Indenture), and subject to Legal Reservations (as defined in the Credit Agreement), the
Security Documents continue to be in full force and effect, save as amended by this
Agreement, and acknowledges that the security constituted by the Security Documents continues
to be in full force and effect so as to secure, on a pari passu basis, any and all Secured
Obligations (as amended by this Agreement) under or in connection with the February 2011
Senior Secured Notes Indenture, the February 2011 Senior Secured Note Documents (as defined
in the February 2011 Senior Secured Notes Indenture) and the other Loan Documents.
	 
	 	 	For the avoidance of doubt, for Swiss law purposes, the Collateral Agent shall act and shall
be deemed to act for the benefit and for the account of each of the Secured Parties,
including the Additional Secured Parties (as defined in the First Lien Intercreditor
Agreement) as a result of the February 2011 Senior Secured Notes Designation, for the
purposes of this Agreement, without any prejudice to the rights and duties laid upon the
Collateral Agent under the laws applicable to the Loan Documents.
	 
	5.	 	MISCELLANEOUS
	 
	(a)	 	To the extent permitted under the Principal Finance Documents, this Agreement may not be
modified, amended, altered or supplemented, in whole or in part, except by a written agreement
signed by all the Parties.
	 
	(b)	 	If any provision of this Agreement is found by any competent authority to be void, invalid or
unenforceable, such provision shall be deemed to be deleted from this Agreement and the
remaining provisions of this Agreement shall continue in full force. In this event, the
Agreement shall be construed, and, if necessary, amended in a way to give effect to, or to
approximate, or to achieve a result which is as close as legally

 

 

			
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	 	 	possible to the result intended by the provision hereof determined to be void, illegal or
unenforceable.
	 
	(c)	 	The rights of a Party to this Agreement shall not be prejudiced or restricted by any
indulgence or forbearance extended to the other Party. A waiver to pursue any breach of
contract by a Party shall not operate as a waiver of the respective right or as a waiver to
claim any subsequent breach. Any provision of this Agreement may be waived only by a written
statement of the waiving Party.
	 
	6.	 	NOTICES
	 
	(a)	 	Each notice or other communication to be given under this Agreement shall be given in writing
in English and, unless otherwise provided, shall be made by fax, hand delivery or mail.
	 
	(b)	 	Without prejudice to any other method of service of notices and communications provided by
law, any notice or other communication to be given by one Party to another under this
Agreement shall (unless one Party has by 5 days’ notice to the other Party specified another
address) be given to that other Party, in the case of the Confirming Grantors and the
Collateral Agent, at the respective addresses given in section (c) below and shall be
effective only when received.
	 
	(c)	 	The addresses are the ones respectively listed in the relevant “Notices” provisions of the
applicable Security Documents.
	 
	7.	 	FURTHER ASSURANCE
	 
	 	 	Subject to the Agreed Security Principles, the Confirming Grantors shall, at their own
expense, promptly, do all acts and execute all documents that are reasonably required or
requested by the Collateral Agent in connection with and for the purpose of the exercise of
the rights of the Collateral Agent hereunder or under any of the Security Documents.
	 
	8.	 	GOVERNING LAW AND JURISDICTION
	 
	(a)	 	This Agreement shall be governed by and construed in accordance with the substantive laws of
Switzerland (without regard to the International Private Law provisions thereof).

 

 

			
	 
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	(b)	 	Any and all litigation to which this Agreement may give rise shall be subject to the
exclusive jurisdiction of the competent authorities and the Commercial Court of the Canton of
Zurich (“Handelsgericht”), with reservation of the right of appeal to the Swiss Federal Court
in Lausanne. The Parties submit to the jurisdiction of said authorities and Courts.
	 
	9.	 	COUNTERPARTS
	 
	 	 	This Agreement may be executed in any number of counterparts and all of such counterparts
taken together shall be deemed to constitute one and the same instrument.

THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK

THE FOLLOWING PAGES ARE THE SIGNATURE PAGES

 

 

			
	
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	BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) III S.à r.l.

 	 	 
	By:  	/s/ Karen Mower
 	 	 
	 	Name:  	Karen Mower 	 	 
	 	Title: 	Authorised Signatory 	 	 
	 
	SIG COMBIBLOC GROUP AG

 	 	 
	By:  	/s/ Karen Mower
 	 	 
	 	Name:  	Karen Mower 	 	 
	 	Title:  	Attorney 	 	 

BANK OF NEW YORK MELLON, by

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

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

 

 

			
	 
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SCHEDULE 1

Security Documents

“Security Documents” means the following Swiss law governed agreements (each of the Security
Documents individually a “Security Document”) between the Confirming Grantors and the Collateral
Agent and each as amended and/or confirmed prior to the Effective Date:

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

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

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

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

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

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

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

 

 

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

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

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

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