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PBG » Topics » Terms of the Master Bottling Agreement.

These excerpts taken from the PBG 10-K filed Feb 20, 2009.
Terms of the Master Bottling Agreement. The Master Bottling Agreement under which we manufacture, package, sell and distribute the cola beverages bearing the Pepsi-Cola and Pepsi trademarks in the United States was entered into in March of 1999. The Master Bottling Agreement gives us the exclusive and perpetual right to distribute cola beverages for sale in specified territories in authorized containers of the nature currently used by us. The Master Bottling Agreement provides that we will purchase our entire requirements of concentrates for the cola beverages from PepsiCo at prices, and on terms and conditions, determined from time to time by PepsiCo. PepsiCo may determine from time to time what types of containers to authorize for use by us. PepsiCo has no rights under the Master Bottling Agreement with respect to the prices at which we sell our products.
 
Under the Master Bottling Agreement we are obligated to:
 
(1)   maintain such plant and equipment, staff, distribution facilities and vending equipment that are capable of manufacturing, packaging, and distributing the cola beverages in sufficient quantities to fully meet the demand for these beverages in our territories;
 
(2)   undertake adequate quality control measures prescribed by PepsiCo;
 
(3)   push vigorously the sale of the cola beverages in our territories;
 
(4)   increase and fully meet the demand for the cola beverages in our territories;
 
(5)   use all approved means and spend such funds on advertising and other forms of marketing beverages as may be reasonably required to push vigorously the sale of cola beverages in our territories; and
 
(6)   maintain such financial capacity as may be reasonably necessary to assure performance under the Master Bottling Agreement by us.
 
The Master Bottling Agreement requires us to meet annually with PepsiCo to discuss plans for the ensuing year and the following two years. At such meetings, we are obligated to present plans that set out in reasonable detail our marketing plan, our management plan and advertising plan with respect to the cola beverages for the year. We must also present a financial plan showing that we have the financial capacity to perform our duties and obligations under the Master Bottling Agreement for that year, as well as sales, marketing, advertising and capital expenditure plans for the two years following such year. PepsiCo has the right to approve such plans, which approval shall not be unreasonably withheld. In 2008, PepsiCo approved our plans.
 
If we carry out our annual plan in all material respects, we will be deemed to have satisfied our obligations to push vigorously the sale of the cola beverages, increase and fully meet the demand for the cola beverages in our territories and maintain the financial capacity required under the Master Bottling Agreement. Failure to present a plan or carry out approved plans in all material respects would constitute an event of default that, if not cured within 120 days of notice of the failure, would give PepsiCo the right to terminate the Master Bottling Agreement.
 
If we present a plan that PepsiCo does not approve, such failure shall constitute a primary consideration for determining whether we have satisfied our obligations to maintain our financial capacity, push vigorously the sale of the cola beverages and increase and fully meet the demand for the cola beverages in our territories.
 
If we fail to carry out our annual plan in all material respects in any segment of our territory, whether defined geographically or by type of market or outlet, and if such failure is not cured within six months of notice of the failure, PepsiCo may reduce the territory covered by the Master Bottling Agreement by eliminating the territory, market or outlet with respect to which such failure has occurred.
 
PepsiCo has no obligation to participate with us in advertising and marketing spending, but it may contribute to such expenditures and undertake independent advertising and marketing activities, as well as cooperative advertising and sales promotion programs that would require our cooperation and support. Although PepsiCo has advised us that it intends to continue to provide cooperative advertising funds, it is not obligated to do so under the Master Bottling Agreement.
 
The Master Bottling Agreement provides that PepsiCo may in its sole discretion reformulate any of the cola beverages or discontinue them, with some limitations, so long as all cola beverages are not discontinued. PepsiCo may also introduce new beverages under the Pepsi-Cola trademarks or any modification thereof. When that occurs, we are obligated to manufacture, package, distribute and sell such new beverages with the same obligations as then exist with respect to other cola beverages. We are prohibited from producing or handling cola products, other than those of PepsiCo, or products or packages that imitate, infringe or cause confusion with the products, containers or trademarks of PepsiCo. The Master Bottling Agreement also imposes requirements with respect to the use of PepsiCo’s trademarks, authorized containers, packaging and labeling.
 
If we acquire control, directly or indirectly, of any bottler of cola beverages, we must cause the acquired bottler to amend its bottling appointments for the cola beverages to conform to the terms of the Master Bottling Agreement. Under the Master Bottling Agreement, PepsiCo has agreed not to withhold approval for any acquisition of rights to manufacture and sell Pepsi trademarked cola beverages within a specific area – currently representing approximately 10.63% of PepsiCo’s U.S. bottling system in terms of volume – if we have successfully negotiated the acquisition and, in PepsiCo’s reasonable judgment, satisfactorily performed our obligations under the Master Bottling Agreement. We have agreed not to acquire or attempt to acquire any rights to manufacture and sell Pepsi trademarked cola beverages outside of that specific area without PepsiCo’s prior written approval.

4

Table of Contents

 
The Master Bottling Agreement is perpetual, but may be terminated by PepsiCo in the event of our default. Events of default include:
 
(1)   our insolvency, bankruptcy, dissolution, receivership or the like;
 
(2)   any disposition of any voting securities of one of our bottling subsidiaries or substantially all of our bottling assets without the consent of PepsiCo;
 
(3)   our entry into any business other than the business of manufacturing, selling or distributing non-alcoholic beverages or any business which is directly related and incidental to such beverage business; and
 
(4)   any material breach under the contract that remains uncured for 120 days after notice by PepsiCo.
 
An event of default will also occur if any person or affiliated group acquires any contract, option, conversion privilege, or other right to acquire, directly or indirectly, beneficial ownership of more than 15% of any class or series of our voting securities without the consent of PepsiCo. As of February 13, 2009, to our knowledge, no shareholder of PBG, other than PepsiCo, held more than 5% of our common stock.
 
We are prohibited from assigning, transferring or pledging the Master Bottling Agreement, or any interest therein, whether voluntarily, or by operation of law, including by merger or liquidation, without the prior consent of PepsiCo.
 
The Master Bottling Agreement was entered into by us in the context of our separation from PepsiCo and, therefore, its provisions were not the result of arm’s-length negotiations. Consequently, the agreement contains provisions that are less favorable to us than the exclusive bottling appointments for cola beverages currently in effect for independent bottlers in the United States.
 
Terms of the Master Bottling
Agreement. The Master Bottling Agreement under which
we manufacture, package, sell and distribute the cola beverages
bearing the Pepsi-Cola and Pepsi trademarks in the United States
was entered into in March of 1999. The Master Bottling Agreement
gives us the exclusive and perpetual right to distribute cola
beverages for sale in specified territories in authorized
containers of the nature currently used by us. The Master
Bottling Agreement provides that we will purchase our entire
requirements of concentrates for the cola beverages from PepsiCo
at prices, and on terms and conditions, determined from time to
time by PepsiCo. PepsiCo may determine from time to time what
types of containers to authorize for use by us. PepsiCo has no
rights under the Master Bottling Agreement with respect to the
prices at which we sell our products.


 



Under the Master Bottling Agreement we are obligated to:


 



























































(1)  
 maintain such plant and equipment, staff, distribution
facilities and vending equipment that are capable of
manufacturing, packaging, and distributing the cola beverages in
sufficient quantities to fully meet the demand for these
beverages in our territories;
 
(2)  
 undertake adequate quality control measures prescribed by
PepsiCo;
 
(3)  
 push vigorously the sale of the cola beverages in our
territories;
 
(4)  
 increase and fully meet the demand for the cola beverages in our
territories;
 
(5)  
 use all approved means and spend such funds on advertising and
other forms of marketing beverages as may be reasonably required
to push vigorously the sale of cola beverages in our
territories; and
 
(6)  
 maintain such financial capacity as may be reasonably necessary
to assure performance under the Master Bottling Agreement by us.


 



The Master Bottling Agreement requires us to meet annually with
PepsiCo to discuss plans for the ensuing year and the following
two years. At such meetings, we are obligated to present plans
that set out in reasonable detail our marketing plan, our
management plan and advertising plan with respect to the cola
beverages for the year. We must also present a financial plan
showing that we have the financial capacity to perform our
duties and obligations under the Master Bottling Agreement for
that year, as well as sales, marketing, advertising and capital
expenditure plans for the two years following such year. PepsiCo
has the right to approve such plans, which approval shall not be
unreasonably withheld. In 2008, PepsiCo approved our plans.


 



If we carry out our annual plan in all material respects, we
will be deemed to have satisfied our obligations to push
vigorously the sale of the cola beverages, increase and fully
meet the demand for the cola beverages in our territories and
maintain the financial capacity required under the Master
Bottling Agreement. Failure to present a plan or carry out
approved plans in all material respects would constitute an
event of default that, if not cured within 120 days of
notice of the failure, would give PepsiCo the right to terminate
the Master Bottling Agreement.


 



If we present a plan that PepsiCo does not approve, such failure
shall constitute a primary consideration for determining whether
we have satisfied our obligations to maintain our financial
capacity, push vigorously the sale of the cola beverages and
increase and fully meet the demand for the cola beverages in our
territories.


 



If we fail to carry out our annual plan in all material respects
in any segment of our territory, whether defined geographically
or by type of market or outlet, and if such failure is not cured
within six months of notice of the failure, PepsiCo may reduce
the territory covered by the Master Bottling Agreement by
eliminating the territory, market or outlet with respect to
which such failure has occurred.


 



PepsiCo has no obligation to participate with us in advertising
and marketing spending, but it may contribute to such
expenditures and undertake independent advertising and marketing
activities, as well as cooperative advertising and sales
promotion programs that would require our cooperation and
support. Although PepsiCo has advised us that it intends to
continue to provide cooperative advertising funds, it is not
obligated to do so under the Master Bottling Agreement.


 



The Master Bottling Agreement provides that PepsiCo may in its
sole discretion reformulate any of the cola beverages or
discontinue them, with some limitations, so long as all cola
beverages are not discontinued. PepsiCo may also introduce new
beverages under the Pepsi-Cola trademarks or any modification
thereof. When that occurs, we are obligated to manufacture,
package, distribute and sell such new beverages with the same
obligations as then exist with respect to other cola beverages.
We are prohibited from producing or handling cola products,
other than those of PepsiCo, or products or packages that
imitate, infringe or cause confusion with the products,
containers or trademarks of PepsiCo. The Master Bottling
Agreement also imposes requirements with respect to the use of
PepsiCo’s trademarks, authorized containers, packaging and
labeling.


 



If we acquire control, directly or indirectly, of any bottler of
cola beverages, we must cause the acquired bottler to amend its
bottling appointments for the cola beverages to conform to the
terms of the Master Bottling Agreement. Under the Master
Bottling Agreement, PepsiCo has agreed not to withhold approval
for any acquisition of rights to manufacture and sell Pepsi
trademarked cola beverages within a specific area –
currently representing approximately 10.63% of PepsiCo’s
U.S. bottling system in terms of volume – if we
have successfully negotiated the acquisition and, in
PepsiCo’s reasonable judgment, satisfactorily performed our
obligations under the Master Bottling Agreement. We have agreed
not to acquire or attempt to acquire any rights to manufacture
and sell Pepsi trademarked cola beverages outside of that
specific area without PepsiCo’s prior written approval.




4








Table of Contents











 



The Master Bottling Agreement is perpetual, but may be
terminated by PepsiCo in the event of our default. Events of
default include:


 









































(1)  
 our insolvency, bankruptcy, dissolution, receivership or the
like;
 
(2)  
 any disposition of any voting securities of one of our bottling
subsidiaries or substantially all of our bottling assets without
the consent of PepsiCo;
 
(3)  
 our entry into any business other than the business of
manufacturing, selling or distributing non-alcoholic beverages
or any business which is directly related and incidental to such
beverage business; and
 
(4)  
 any material breach under the contract that remains uncured for
120 days after notice by PepsiCo.


 



An event of default will also occur if any person or affiliated
group acquires any contract, option, conversion privilege, or
other right to acquire, directly or indirectly, beneficial
ownership of more than 15% of any class or series of our voting
securities without the consent of PepsiCo. As of
February 13, 2009, to our knowledge, no shareholder of PBG,
other than PepsiCo, held more than 5% of our common stock.


 



We are prohibited from assigning, transferring or pledging the
Master Bottling Agreement, or any interest therein, whether
voluntarily, or by operation of law, including by merger or
liquidation, without the prior consent of PepsiCo.


 



The Master Bottling Agreement was entered into by us in the
context of our separation from PepsiCo and, therefore, its
provisions were not the result of arm’s-length
negotiations. Consequently, the agreement contains provisions
that are less favorable to us than the exclusive bottling
appointments for cola beverages currently in effect for
independent bottlers in the United States.


 



These excerpts taken from the PBG 10-K filed Feb 27, 2008.
Terms of the Master Bottling Agreement. The Master Bottling Agreement under which we manufacture, package, sell and distribute the cola beverages bearing the Pepsi-Cola and Pepsi trademarks in the United States was entered into in March of 1999. The Master Bottling Agreement gives us the exclusive and perpetual right to distribute cola beverages for sale in specified territories in authorized containers of the nature currently used by us. The Master Bottling Agreement provides that we will purchase our entire requirements of concentrates for the cola beverages from PepsiCo at prices, and on terms and conditions, determined from time to time by PepsiCo. PepsiCo may determine from time to time what types of containers to authorize for use by us. PepsiCo has no rights under the Master Bottling Agreement with respect to the prices at which we sell our products.
 
Under the Master Bottling Agreement we are obligated to:
 
(1)   maintain such plant and equipment, staff, distribution facilities and vending equipment that are capable of manufacturing, packaging, and distributing the cola beverages in sufficient quantities to fully meet the demand for these beverages in our territories;
 
(2)   undertake adequate quality control measures prescribed by PepsiCo;
 
(3)   push vigorously the sale of the cola beverages in our territories;
 
(4)   increase and fully meet the demand for the cola beverages in our territories;
 
(5)   use all approved means and spend such funds on advertising and other forms of marketing beverages as may be reasonably required to push vigorously the sale of cola beverages in our territories; and
 
(6)   maintain such financial capacity as may be reasonably necessary to assure performance under the Master Bottling Agreement by us.
 
The Master Bottling Agreement requires us to meet annually with PepsiCo to discuss plans for the ensuing year and the following two years. At such meetings, we are obligated to present plans that set out in reasonable detail our marketing plan, our management plan and advertising plan with respect to the cola beverages for the year. We must also present a financial plan showing that we have the financial capacity to perform our duties and obligations under the Master Bottling Agreement for that year, as well as sales, marketing, advertising and capital expenditure plans for the two years following such year. PepsiCo has the right to approve such plans, which approval shall not be unreasonably withheld. In 2007, PepsiCo approved our plans.
 
If we carry out our annual plan in all material respects, we will be deemed to have satisfied our obligations to push vigorously the sale of the cola beverages, increase and fully meet the demand for the cola beverages in our territories and maintain the financial capacity required under the Master Bottling Agreement. Failure to present a plan or carry out approved plans in all material respects would constitute an event of default that, if not cured within 120 days of notice of the failure, would give PepsiCo the right to terminate the Master Bottling Agreement.
 
If we present a plan that PepsiCo does not approve, such failure shall constitute a primary consideration for determining whether we have satisfied our obligations to maintain our financial capacity, push vigorously the sale of the cola beverages and increase and fully meet the demand for the cola beverages in our territories.
 
If we fail to carry out our annual plan in all material respects in any segment of our territory, whether defined geographically or by type of market or outlet, and if such failure is not cured within six months of notice of the failure, PepsiCo may reduce the territory covered by the Master Bottling Agreement by eliminating the territory, market or outlet with respect to which such failure has occurred.

4

Table of Contents

 
PepsiCo has no obligation to participate with us in advertising and marketing spending, but it may contribute to such expenditures and undertake independent advertising and marketing activities, as well as cooperative advertising and sales promotion programs that would require our cooperation and support. Although PepsiCo has advised us that it intends to continue to provide cooperative advertising funds, it is not obligated to do so under the Master Bottling Agreement.
 
The Master Bottling Agreement provides that PepsiCo may in its sole discretion reformulate any of the cola beverages or discontinue them, with some limitations, so long as all cola beverages are not discontinued. PepsiCo may also introduce new beverages under the Pepsi-Cola trademarks or any modification thereof. When that occurs, we are obligated to manufacture, package, distribute and sell such new beverages with the same obligations as then exist with respect to other cola beverages. We are prohibited from producing or handling cola products, other than those of PepsiCo, or products or packages that imitate, infringe or cause confusion with the products, containers or trademarks of PepsiCo. The Master Bottling Agreement also imposes requirements with respect to the use of PepsiCo’s trademarks, authorized containers, packaging and labeling.
 
If we acquire control, directly or indirectly, of any bottler of cola beverages, we must cause the acquired bottler to amend its bottling appointments for the cola beverages to conform to the terms of the Master Bottling Agreement. Under the Master Bottling Agreement, PepsiCo has agreed not to withhold approval for any acquisition of rights to manufacture and sell Pepsi trademarked cola beverages within a specific area – currently representing approximately 11.63% of PepsiCo’s U.S. bottling system in terms of volume – if we have successfully negotiated the acquisition and, in PepsiCo’s reasonable judgment, satisfactorily performed our obligations under the Master Bottling Agreement. We have agreed not to acquire or attempt to acquire any rights to manufacture and sell Pepsi trademarked cola beverages outside of that specific area without PepsiCo’s prior written approval.
 
The Master Bottling Agreement is perpetual, but may be terminated by PepsiCo in the event of our default. Events of default include:
 
(1)   our insolvency, bankruptcy, dissolution, receivership or the like;
 
(2)   any disposition of any voting securities of one of our bottling subsidiaries or substantially all of our bottling assets without the consent of PepsiCo;
 
(3)   our entry into any business other than the business of manufacturing, selling or distributing non-alcoholic beverages or any business which is directly related and incidental to such beverage business; and
 
(4)   any material breach under the contract that remains uncured for 120 days after notice by PepsiCo.
 
An event of default will also occur if any person or affiliated group acquires any contract, option, conversion privilege, or other right to acquire, directly or indirectly, beneficial ownership of more than 15% of any class or series of our voting securities without the consent of PepsiCo. As of February 15, 2008, to our knowledge, no shareholder of PBG, other than PepsiCo, held more than 9.4% of our common stock.
 
We are prohibited from assigning, transferring or pledging the Master Bottling Agreement, or any interest therein, whether voluntarily, or by operation of law, including by merger or liquidation, without the prior consent of PepsiCo.
 
The Master Bottling Agreement was entered into by us in the context of our separation from PepsiCo and, therefore, its provisions were not the result of arm’s-length negotiations. Consequently, the agreement contains provisions that are less favorable to us than the exclusive bottling appointments for cola beverages currently in effect for independent bottlers in the United States.
 
Terms of the Master Bottling
Agreement. The Master Bottling Agreement under which
we manufacture, package, sell and distribute the cola beverages
bearing the Pepsi-Cola and Pepsi trademarks in the United States
was entered into in March of 1999. The Master Bottling Agreement
gives us the exclusive and perpetual right to distribute cola
beverages for sale in specified territories in authorized
containers of the nature currently used by us. The Master
Bottling Agreement provides that we will purchase our entire
requirements of concentrates for the cola beverages from PepsiCo
at prices, and on terms and conditions, determined from time to
time by PepsiCo. PepsiCo may determine from time to time what
types of containers to authorize for use by us. PepsiCo has no
rights under the Master Bottling Agreement with respect to the
prices at which we sell our products.


 



Under the Master Bottling Agreement we are obligated to:


 



























































(1)  
 maintain such plant and equipment, staff, distribution
facilities and vending equipment that are capable of
manufacturing, packaging, and distributing the cola beverages in
sufficient quantities to fully meet the demand for these
beverages in our territories;
 
(2)  
 undertake adequate quality control measures prescribed by
PepsiCo;
 
(3)  
 push vigorously the sale of the cola beverages in our
territories;
 
(4)  
 increase and fully meet the demand for the cola beverages in our
territories;
 
(5)  
 use all approved means and spend such funds on advertising and
other forms of marketing beverages as may be reasonably required
to push vigorously the sale of cola beverages in our
territories; and
 
(6)  
 maintain such financial capacity as may be reasonably necessary
to assure performance under the Master Bottling Agreement by us.


 



The Master Bottling Agreement requires us to meet annually with
PepsiCo to discuss plans for the ensuing year and the following
two years. At such meetings, we are obligated to present plans
that set out in reasonable detail our marketing plan, our
management plan and advertising plan with respect to the cola
beverages for the year. We must also present a financial plan
showing that we have the financial capacity to perform our
duties and obligations under the Master Bottling Agreement for
that year, as well as sales, marketing, advertising and capital
expenditure plans for the two years following such year. PepsiCo
has the right to approve such plans, which approval shall not be
unreasonably withheld. In 2007, PepsiCo approved our plans.


 



If we carry out our annual plan in all material respects, we
will be deemed to have satisfied our obligations to push
vigorously the sale of the cola beverages, increase and fully
meet the demand for the cola beverages in our territories and
maintain the financial capacity required under the Master
Bottling Agreement. Failure to present a plan or carry out
approved plans in all material respects would constitute an
event of default that, if not cured within 120 days of
notice of the failure, would give PepsiCo the right to terminate
the Master Bottling Agreement.


 



If we present a plan that PepsiCo does not approve, such failure
shall constitute a primary consideration for determining whether
we have satisfied our obligations to maintain our financial
capacity, push vigorously the sale of the cola beverages and
increase and fully meet the demand for the cola beverages in our
territories.


 



If we fail to carry out our annual plan in all material respects
in any segment of our territory, whether defined geographically
or by type of market or outlet, and if such failure is not cured
within six months of notice of the failure, PepsiCo may reduce
the territory covered by the Master Bottling Agreement by
eliminating the territory, market or outlet with respect to
which such failure has occurred.




4





Table of Contents











 



PepsiCo has no obligation to participate with us in advertising
and marketing spending, but it may contribute to such
expenditures and undertake independent advertising and marketing
activities, as well as cooperative advertising and sales
promotion programs that would require our cooperation and
support. Although PepsiCo has advised us that it intends to
continue to provide cooperative advertising funds, it is not
obligated to do so under the Master Bottling Agreement.


 



The Master Bottling Agreement provides that PepsiCo may in its
sole discretion reformulate any of the cola beverages or
discontinue them, with some limitations, so long as all cola
beverages are not discontinued. PepsiCo may also introduce new
beverages under the Pepsi-Cola trademarks or any modification
thereof. When that occurs, we are obligated to manufacture,
package, distribute and sell such new beverages with the same
obligations as then exist with respect to other cola beverages.
We are prohibited from producing or handling cola products,
other than those of PepsiCo, or products or packages that
imitate, infringe or cause confusion with the products,
containers or trademarks of PepsiCo. The Master Bottling
Agreement also imposes requirements with respect to the use of
PepsiCo’s trademarks, authorized containers, packaging and
labeling.


 



If we acquire control, directly or indirectly, of any bottler of
cola beverages, we must cause the acquired bottler to amend its
bottling appointments for the cola beverages to conform to the
terms of the Master Bottling Agreement. Under the Master
Bottling Agreement, PepsiCo has agreed not to withhold approval
for any acquisition of rights to manufacture and sell Pepsi
trademarked cola beverages within a specific area –
currently representing approximately 11.63% of PepsiCo’s
U.S. bottling system in terms of volume – if we
have successfully negotiated the acquisition and, in
PepsiCo’s reasonable judgment, satisfactorily performed our
obligations under the Master Bottling Agreement. We have agreed
not to acquire or attempt to acquire any rights to manufacture
and sell Pepsi trademarked cola beverages outside of that
specific area without PepsiCo’s prior written approval.


 



The Master Bottling Agreement is perpetual, but may be
terminated by PepsiCo in the event of our default. Events of
default include:


 









































(1)  
 our insolvency, bankruptcy, dissolution, receivership or the
like;
 
(2)  
 any disposition of any voting securities of one of our bottling
subsidiaries or substantially all of our bottling assets without
the consent of PepsiCo;
 
(3)  
 our entry into any business other than the business of
manufacturing, selling or distributing non-alcoholic beverages
or any business which is directly related and incidental to such
beverage business; and
 
(4)  
 any material breach under the contract that remains uncured for
120 days after notice by PepsiCo.


 



An event of default will also occur if any person or affiliated
group acquires any contract, option, conversion privilege, or
other right to acquire, directly or indirectly, beneficial
ownership of more than 15% of any class or series of our voting
securities without the consent of PepsiCo. As of
February 15, 2008, to our knowledge, no shareholder of PBG,
other than PepsiCo, held more than 9.4% of our common stock.


 



We are prohibited from assigning, transferring or pledging the
Master Bottling Agreement, or any interest therein, whether
voluntarily, or by operation of law, including by merger or
liquidation, without the prior consent of PepsiCo.


 



The Master Bottling Agreement was entered into by us in the
context of our separation from PepsiCo and, therefore, its
provisions were not the result of arm’s-length
negotiations. Consequently, the agreement contains provisions
that are less favorable to us than the exclusive bottling
appointments for cola beverages currently in effect for
independent bottlers in the United States.


 



EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 20, 2009
10-K (2 sections)
Feb 27, 2008

RELATED TOPICS for PBG:

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