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These excerpts taken from the PBG 10-K filed Feb 20, 2009. Terms of the Master Syrup
Agreement. The Master Syrup Agreement grants us the
exclusive right to manufacture, sell and distribute fountain
syrup to local customers in our territories. We have agreed to
act as a manufacturing and delivery agent for national accounts
within our territories that specifically request direct delivery
without using a middleman. In addition, PepsiCo may appoint us
to manufacture and deliver fountain syrup to national accounts
that elect delivery through independent distributors. Under the
Master Syrup Agreement, we have the exclusive right to service
fountain equipment for all of the national account customers
within our territories. The Master Syrup Agreement provides that
the determination of whether an account is local or national is
at the sole discretion of PepsiCo.
The Master Syrup Agreement contains provisions that are similar
to those contained in the Master Bottling Agreement with respect
to concentrate pricing, territorial restrictions with respect to
local customers and national customers electing
direct-to-store
delivery only, planning, quality control, transfer restrictions
and related matters. The Master Syrup Agreement had an initial
term of five years which expired in 2004 and was renewed for an
additional five-year period. The Master Syrup Agreement will
automatically renew for additional five-year periods, unless
PepsiCo terminates it for cause. PepsiCo has the right to
terminate the Master Syrup Agreement without cause at any time
upon twenty-four months notice. In the event PepsiCo terminates
the Master Syrup Agreement without cause, PepsiCo is required to
pay us the fair market value of our rights thereunder.
Our Master Syrup Agreement will terminate if PepsiCo terminates
our Master Bottling Agreement.
Terms of the Master Syrup Agreement. The Master Syrup Agreement grants us the exclusive right to manufacture, sell and distribute fountain syrup to local customers in our territories. We have agreed to act as a manufacturing and delivery agent for national accounts within our territories that specifically request direct delivery without using a middleman. In addition, PepsiCo may appoint us to manufacture and deliver fountain syrup to national accounts that elect delivery through independent distributors. Under the Master Syrup Agreement, we have the exclusive right to service fountain equipment for all of the national account customers within our territories. The Master Syrup Agreement provides that the determination of whether an account is local or national is at the sole discretion of PepsiCo. The Master Syrup Agreement contains provisions that are similar to those contained in the Master Bottling Agreement with respect to concentrate pricing, territorial restrictions with respect to local customers and national customers electing direct-to-store delivery only, planning, quality control, transfer restrictions and related matters. The Master Syrup Agreement had an initial term of five years which expired in 2004 and was renewed for an additional five-year period. The Master Syrup Agreement will automatically renew for additional five-year periods, unless PepsiCo terminates it for cause. PepsiCo has the right to terminate the Master Syrup Agreement without cause at any time upon twenty-four months notice. In the event PepsiCo terminates the Master Syrup Agreement without cause, PepsiCo is required to pay us the fair market value of our rights thereunder. Our Master Syrup Agreement will terminate if PepsiCo terminates our Master Bottling Agreement. These excerpts taken from the PBG 10-K filed Feb 27, 2008. Terms of the Master Syrup
Agreement. The Master Syrup Agreement grants us the
exclusive right to manufacture, sell and
5
Table of Contents
distribute fountain syrup to local customers in our territories.
We have agreed to act as a manufacturing and delivery agent for
national accounts within our territories that specifically
request direct delivery without using a middleman. In addition,
PepsiCo may appoint us to manufacture and deliver fountain syrup
to national accounts that elect delivery through independent
distributors. Under the Master Syrup Agreement, we have the
exclusive right to service fountain equipment for all of the
national account customers within our territories. The Master
Syrup Agreement provides that the determination of whether an
account is local or national is at the sole discretion of
PepsiCo.
The Master Syrup Agreement contains provisions that are similar
to those contained in the Master Bottling Agreement with respect
to concentrate pricing, territorial restrictions with respect to
local customers and national customers electing direct-to-store
delivery only, planning, quality control, transfer restrictions
and related matters. The Master Syrup Agreement had an initial
term of five years which expired in 2004 and was renewed for an
additional
five-year
period. The Master Syrup Agreement will automatically renew for
additional five-year periods, unless PepsiCo terminates it for
cause. PepsiCo has the right to terminate the Master Syrup
Agreement without cause at any time upon twenty-four months
notice. In the event PepsiCo terminates the Master Syrup
Agreement without cause, PepsiCo is required to pay us the fair
market value of our rights thereunder.
Our Master Syrup Agreement will terminate if PepsiCo terminates
our Master Bottling Agreement.
Terms of the Master Syrup Agreement. The Master Syrup Agreement grants us the exclusive right to manufacture, sell and 5 Table of Contents
distribute fountain syrup to local customers in our territories. We have agreed to act as a manufacturing and delivery agent for national accounts within our territories that specifically request direct delivery without using a middleman. In addition, PepsiCo may appoint us to manufacture and deliver fountain syrup to national accounts that elect delivery through independent distributors. Under the Master Syrup Agreement, we have the exclusive right to service fountain equipment for all of the national account customers within our territories. The Master Syrup Agreement provides that the determination of whether an account is local or national is at the sole discretion of PepsiCo. The Master Syrup Agreement contains provisions that are similar to those contained in the Master Bottling Agreement with respect to concentrate pricing, territorial restrictions with respect to local customers and national customers electing direct-to-store delivery only, planning, quality control, transfer restrictions and related matters. The Master Syrup Agreement had an initial term of five years which expired in 2004 and was renewed for an additional five-year period. The Master Syrup Agreement will automatically renew for additional five-year periods, unless PepsiCo terminates it for cause. PepsiCo has the right to terminate the Master Syrup Agreement without cause at any time upon twenty-four months notice. In the event PepsiCo terminates the Master Syrup Agreement without cause, PepsiCo is required to pay us the fair market value of our rights thereunder. Our Master Syrup Agreement will terminate if PepsiCo terminates our Master Bottling Agreement. | EXCERPTS ON THIS PAGE:
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