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Distribution Coordination Agreement

Distribution Agreement

Distribution Coordination Agreement | Document Parties: HANSEN NATURAL CORP You are currently viewing:
This Distribution Agreement involves

HANSEN NATURAL CORP

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Title: Distribution Coordination Agreement
Date: 2/29/2008
Industry: Beverages (Non-Alcoholic)     Sector: Consumer/Non-Cyclical

Distribution Coordination Agreement, Parties: hansen natural corp
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[Logo] Anheuser-Busch Inc.

Exhibit 10.62

 

March 1, 2007

Mr. Rodney C. Sacks

Chairman and Chief Executive Officer

Hansen Beverage Company

1010 Railroad Street

Corona, CA 92882

LETTER AGREEMENT

Re:

Amended and Restated Allied Products Distribution Coordination Agreement signed on August 10, 2006 and deemed effective May 8, 2006 (the "Allied Products Coordination Agreement") between Hansen Beverage Company ("Hansen") and Anheuser-Busch, Incorporated ("AB")

Dear Mr. Sacks:

This Letter Agreement is intended to evidence Hansen's and AB's mutual agreement to amend and clarify certain terms of the Allied Products Coordination Agreement.

1.

The following is added as Section 27 to the Allied Products Coordination Agreement:

 

"27.

Insurance .

27.1.        Hansen records that as of September 30, 2006 it maintained the following types and amounts of insurance ("Current Insurance"):

A.)           Commercial General Liability insurance with Product Liability coverage for the sale of products in an amount of $1,000,000 each occurrence and $2,000,000 in the aggregate.

B.)           Umbrella Liability insurance which provides excess coverage to the insurance outlined in A above in an amount of $20,000,000 each occurrence and $40,000,000 in the aggregate.

27.2.        Hansen agrees that during the term of this Agreement it will use reasonable commercial efforts to maintain in effect policies of insurance with reasonably comparable terms and benefits to the Current Insurance provided, however, that Hansen is able to procure and maintain such insurance at comparable cost and premiums, and on terms and with benefits that are comparable to the Current Insurance. Notwithstanding the foregoing and in addition thereto, Hansen shall be entitled to alter the types and/or terms and/or reduce the benefits of the insurance to such levels as Hansen reasonably determines are commercially reasonable or appropriate in the circumstances and which may include, without limitation, a drop in Hansen sales levels or a change in financial conditions but to no less Product Liability insurance coverage than

 

Mr. Rodney C. Sacks

Hansen Beverage Company

March 1, 2007

Page 2

 

$10,000,000 each occurrence and $20,000,000 in the aggregate (


 
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