Exhibit 10.5
PLEDGE SUPPLEMENT
November 20, 2003
This PLEDGE SUPPLEMENT is delivered pursuant to the Pledge and Security
Agreement, dated as of July 22, 2002 (as it may be from time to time amended,
restated, modified or supplemented, the "SECURITY AGREEMENT"), among XXXXX
PLASTICS CORPORATION, the other Grantors named therein, and FLEET NATIONAL BANK,
as the Collateral Agent. Capitalized terms used herein not otherwise defined
herein shall have the meanings ascribed thereto in the Security Agreement.
Each of the Grantors hereby confirms the grant to the Collateral Agent
set forth in the Security Agreement of, and does hereby grant to the Collateral
Agent, a security interest in all of each of the Grantors' right, title and
interest in and to all of each of its Collateral to secure the Secured
Obligations, in each case whether now or hereafter existing or in which each of
the Grantors now has or hereafter acquires an interest and wherever the same may
be located. Each of the Grantors represents and warrants that the attached
Supplements to Schedules accurately and completely set forth all additional
information required pursuant to the Security Agreement and hereby agrees that
such Supplements to Schedules shall constitute part of the Schedules to the
Security Agreement.
[The remainder of this page intentionally left blank.]
IN WITNESS WHEREOF, each of the undersigned Grantors has
caused this Pledge Supplement to be duly executed and delivered by its duly
authorized officer as of the date above first written.
GRANTOR: XXXXX PLASTICS CORPORATION
By:/s/ Xxxxx X. Xxxxxxxxxx
---------------------------
Name: Xxxxx X. Xxxxxxxxxx
Title: Secretary
XXXXXX PLASTICS, INC.
By:/s/ Xxxxx X. Xxxxxxxxxx
----------------------------
Name: Xxxxx X. Xxxxxxxxxx
Title: Secretary
SUPPLEMENT TO SCHEDULE 3.1
TO PLEDGE AND SECURITY AGREEMENT
ADDITIONAL INFORMATION: GENERAL INFORMATION
(A) Full Legal Name, Type of Organization, Jurisdiction of Organization,
Chief Executive Office/Sole Place of Business (or Residence if Grantor
is a Natural Person) and Federal Taxpayer Identification Number of
Grantor:
CHIEF EXECUTIVE OFFICE/SOLE PLACE FEDERAL TAXPAYER
TYPE OF JURISDICTION OF BUSINESS (OR RESIDENCE IF IDENTIFICATION
FULL LEGAL NAME ORGANIZATION OF ORGANIZATION GRANTOR IS A NATURAL PERSON) NUMBER
--------------- ------------ --------------- ---------------------------- ------
Xxxxxx Plastics, Inc. Corporation Illinois Xxx X. Boots 00-0000000
(B) Other Names (including any Trade-Name or Fictitious Business Name)
under which each Grantor has conducted business for the past five
years:
None.
(C) Changes in Name, Jurisdiction of Organization, Chief Executive Office
or Sole Place of Business (or Principal Residence if Grantor is a
Natural Person), Federal Taxpayer Identification Number and Corporate
Structure within past five years:
None.
(D) Agreements entered into by another Person pursuant to which Grantor has
become bound as a debtor within past five (5) years:
None.
(E) Financing Statements:
NAME OF GRANTOR JURISDICTION
--------------- ------------
Xxxxxx Plastics, Inc. Illinois
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SUPPLEMENT TO SCHEDULE 3.2
TO PLEDGE AND SECURITY AGREEMENT
ADDITIONAL INFORMATION: LOCATION OF EQUIPMENT AND INVENTORY
NAME OF GRANTOR LOCATION OF EQUIPMENT AND INVENTORY
--------------- -----------------------------------
Xxxxxx Plastics, Inc. 0000 Xxxx Xxxxxxxxxx Xxxxxx
Xxxxxxxx XX, 00000
Xxxxxxxx Xxxxxx
0000-0000 000xx Xxxxxx
Xxxxx XX, 00000
Cook County
11600/00000 Xxxxx Xxxxxxx Xxxxxx
Xxxxx XX, 00000
Cook County
0000 Xxxxxx Xxx
Xxxxxx XX, 00000
Xxxxxxx Xxxxxx
0000 Xxxxx 0xx Xxxxxx
Xxxxxxxxxx XX, 00000
Xxxxx Xxxxxx
000 Xxxxxxxx Xxxx
Xxxxxxxx XX, 00000
Xxxxx Xxxxxx
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SUPPLEMENT TO SCHEDULE 3.4(A)
TO PLEDGE AND SECURITY AGREEMENT
ADDITIONAL INFORMATION: INVESTMENT RELATED PROPERTY
DEPOSIT ACCOUNTS:
--------------------------------------------------------------------------------------------------------------
FEDERAL TAX ID NUMBER OF
ACCOUNT NUMBER ACCOUNT HOLDER NAME AND ADDRESS OF BANK BANK
--------------------------------------------------------------------------------------------------------------
1. 4108051 Xxxxxx Plastics, Inc. Bank One 00-0000000
0000 X. Xxxxxxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
2. 500207802 Xxxxxx Plastics, Inc. Bank One 00-0000000
0000 X. Xxxxxxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
3. 100063701 Xxxxxx Plastics, Inc. Founders Bank 00-0000000
0000 Xxxx 00xx Xxxxxx
Xxxxx, XX 00000
4. 411-1078087 Xxxxxx Plastics, Inc. Chase Manhattan Bank ###-##-####
P.O. Box 5206
New Hyde Park, NY 11042
5. 750-0018570 Xxxxxx Plastics, Inc. Xxxxx Fargo Bank Indiana 00-0000000
P.O. Box 960
Fort Xxxxx, IN 46801
6. 1013247 Xxxxxx Plastics, Inc. Xxxxx Bank & Trust Co. 00-0000000
P.O. Box 210145
W. Main Street
Cambridge City, IN 47327-0210
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SUPPLEMENT TO SCHEDULE 3.4(B)
TO PLEDGE AND SECURITY AGREEMENT
ADDITIONAL INFORMATION: EQUITY INTERESTS IN ANOTHER ENTITY ACQUIRED WITHIN THE
LAST FIVE YEARS.
----------------------------------------------------------------------------------------------------------------
GRANTOR ACQUIRED ENTITY PERCENTAGE OF OWNERSHIP DATE OF ACQUISITION
----------------------------------------------------------------------------------------------------------------
Xxxxx Plastics Corporation Xxxxxx Plastics, Inc. 100% November [ ], 2003
----------------------------------------------------------------------------------------------------------------
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SUPPLEMENT TO SCHEDULE 3.5
TO PLEDGE AND SECURITY AGREEMENT
ADDITIONAL INFORMATION: DESCRIPTION OF MATERIAL CONTRACTS
1. Strategic Supplier Alliance Agreement by and between the Company and
Kraft Foods North America, Inc. dated January 1, 2001.
2. Sales Contract by and between The Dow Chemical Company and the Company
dated August 1, 2001.
3. Letter Agreement between the Company and Basell USA Inc. dated January
14, 2003.
4. Contract for Sale of Polymers between the Company and Equistar
Chemicals, LP, Polymers Division, dated July 1, 2001.
5. Sun Chemical Corporation Ink Supply Agreement between the Company and
Sun Chemical Corporation dated June 14, 2002.
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SUPPLEMENT TO SCHEDULE 3.7
TO PLEDGE AND SECURITY AGREEMENT
ADDITIONAL INFORMATION: INTELLECTUAL PROPERTY
(A) Copyrights: None
(B) Copyright Licenses: None
(C) Patents and Patent Applications:
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PATENT OR APPLICATION FILING
NUMBER DATE ISSUE DATE TITLE
------------------------------------------------------------------------------------------------------------
CA 1,245,819 6/5/85 12/6/88 Annular injection molding nozzles with
central heater probes
CA 1,311,217 1/15/88 12/8/92 Tear strip closure for container with
security ring with strip provided with pull
tab, pulling acting to expose lift tab
US 4,759,465 9/3/87 7/26/88 Tear strip closure for container with
security ring with lift tab connected to
upper part of skirt to allow removal of
closure
US 4,819,825 2/5/88 4/11/89 Tear strip closure with tamper indication
US 4,826,039 2/5/88 5/2/89 Container closure with anti-nesting ribs
US 4,872,586 9/25/87 10/10/89 Container closure and assembly
US 5,238,135; 3/18/92; 8/24/93; Easy-open tear strip lid
CA 2,091,947 3/18/93 9/19/93
CA 2,126,390(1) 6/21/94 12/22/95 Closure for dairy container.
CA 1,239,514 7/12/85 7/26/88 Injection Molding Apparatus
US D369,107 12/13/94 4/23/96 Design of lid with partially removable
gripping flange
US D389058 1/6/95 1/13/98 Design of plastic container lid
US 09/571,634 5/15/00 Applications Thin wall closure container
CA 2326031 11/16/00 pending
US 60/463,361 4/16/03 Application Tamper evident lid and container
pending
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------------------------
(1) The next maintenance fee is due in June, 2004. The Company may decide not to
pay the fee.
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(D) Patent Licenses:
------------------------------------------------------------------------------------------------------
PATENT NUMBER FILING DATE ISSUE DATE USE
------------------------------------------------------------------------------------------------------
4,735,337 5/26/87 4/5/88 Right to use molds incorporating the zig-zag tear strip
embodiment of the '337 patent sold by Plas-Tool Co. to
produce products, so long as the lid is also covered by
the Xxxxxx '135 patent
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(E) Trademarks
1. Trademark Registrations:
--------------------------------------------------------------------------------------------------
STATE OR
REGISTRATION NUMBER MARK COUNTRY REGISTRATION DATE
--------------------------------------------------------------------------------------------------
1,153,982 LPI US 5/12/81; renewed 5/12/01
1,813,752 LPI [design mark] US 12/28/93
--------------------------------------------------------------------------------------------------
2. Domain Names:
DOMAIN NAME OWNER OF RECORD EXPIRATION DATE
------------------------------------------------------------------------------------------------
X-XXX.XXX Xxxxxx Plastics, Inc. 1/6/09
XXXXXXXXX.XXX Xxxxxx Plastics, Inc. 8/23/08
XXXXXXXXXXXXXX.XXX Xxxxxx Plastics, Inc. 12/11/07
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(F) Trademark Licenses: None
(G) Trade Secret Licenses: None
(H) Intellectual Property Matters
Other License Agreements:
1. Strategic Supplier Alliance Agreement by and between the Company and
Kraft Foods North America, Inc. dated January 1, 2001, appears to
relate to rights in certain joint technology; expires December 31,
2003.
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