SECURITY AGREEMENTSecurity Agreement • March 25th, 2011 • Pregis Holding II CORP • Plastics products, nec • New York
This SECURITY AGREEMENT (this “Agreement”), dated as of March 23, 2011, among the Persons listed on the signature pages hereof as “Grantors” and those additional entities that hereafter become parties hereto by executing the form of US Joinder Agreement in the form of Exhibit J-1 to the Credit Agreement (defined below) (each, a “Grantor” and collectively, the “Grantors”), and WELLS FARGO CAPITAL FINANCE, LLC, a Delaware limited liability company (“WFCF”), in its capacity as administrative agent and collateral agent for the Lender Group and the Bank Product Providers (in such capacity, together with its successors and assigns in such capacity, “Agent”).
AMENDMENT TO EMPLOYMENT AGREEMENTEmployment Agreement • March 25th, 2011 • Pregis Holding II CORP • Plastics products, nec
This Amendment to Employment Agreement effective October 1,2010 by and among Pregis Holding I Corporation, a Delaware corporation (“Pregis I”) and its wholly-owned subsidiaries, Pregis Holding II Corporation, a Delaware corporation (“Pregis II”), and Pregis Corporation, a Delaware corporation (“Pregis”) (Pregis I, Pregis II and Pregis, collectively, the “Employers”) and Kevin Baudhuin (“Executive”) hereby amends the Employment Agreement dated December 11,2007 among Employers and Executive, as follows:
CREDIT AGREEMENT by and among PREGIS HOLDING II CORPORATION, as Parent, PREGIS CORPORATION and certain Subsidiaries thereof, as US Borrowers, Certain Subsidiaries of Pregis Corporation, as UK Borrowers, THE LENDERS THAT ARE SIGNATORIES HERETO as the...Credit Agreement • March 25th, 2011 • Pregis Holding II CORP • Plastics products, nec • New York
Except as set forth in the foregoing proviso, the Applicable Margin shall be based upon the most recent Excess Availability Calculation, which will be calculated as of the end of each calendar quarter. Except as set forth in the foregoing proviso, the Applicable Margin shall be re-determined quarterly on the first day of the quarter following the date of delivery to Agent of the certified calculation of the Average Quarterly Excess Availability pursuant to Section 5.1 of the Agreement; provided, however, that if Borrowers fail to provide such certification when such certification is due, the Applicable Margin shall be set at “Level I” as of the first day of the quarter following the date on which the certification was required to be delivered until the date on which such certification is delivered (on which date (but not retroactively), without constituting a waiver of any Default or Event of Default occasioned by the failure to timely deliver such certification, the Applicable Margin
