Exhibit 10.3
FIRST AMENDMENT TO AMENDED AND
RESTATED
ADDENDUM TO DISTRIBUTOR FRANCHISE
AGREEMENT
This First Amendment to Amended and
Restated Addendum to Distributor Franchise Agreement (“First
Amendment”) is entered into on this 31
st
day of March 2005, by
and between CITGO Petroleum Corporation (“CITGO”) and
The Pantry, Inc. (the “Company”).
WHEREAS, CITGO and the Company have
entered into a Distributor Franchise Agreement on or about August,
2000 (the “DFA”);
WHEREAS, CITGO and the Company have
entered into an Amended and Restated Addendum to that DFA on
February 11, 2003, (the “Addendum”); and
WHEREAS, CITGO and the Company
desire to change the scope, Adder Fees and other terms and
conditions of the Addendum;
NOW, THEREFORE in consideration of
the premises and covenants contained herein, it is agreed that
Sections 3, 4(ii) and 10 of the Addendum shall be changed as
follows:
The following terminals shall be added to the
list of terminals in Section 3 , for which the pricing
formula set forth in Section 4 applies:
|
|
|
|
|
|
|
|
|
“Bainbridge, GA
|
|
Biloxi,
MS
|
|
Birmingham,
AL
|
|
Chattanooga,
TN
|
|
Montgomery,
AL
|
|
Powder Springs,
GA
|
|
Rome,
GA
|
|
|
|
Nashville,
TN
|
|
Mobile,
AL
|
|
Chattahoochee,
GA”
|
|
|
Section 4(ii) shall be replaced in its entirety and shall now
read:
“(ii) The Adder Fees shall be
as follows (in $/gal):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aggregate Gals. (in million gals/Contract
Year)
|
|
Branded Gasoline
|
|
UnBranded
Gasoline
|
|
LSD
|
|
|
RUL
|
|
MID
|
|
PREM
|
|
all grades
|
|
all grades
|
|
[***]
|
|
$
|
[***]
|
|
$
|
[***]
|
|
$
|
[***]
|
|
$
|
[***]
|
|
$
|
[***]
|
|
|
|
|
|
|
|
|
[***]
|
|
$
|
[***]
|
|
$
|
[***]
|
|
$
|
[***]
|
|
$
|
