Exhibit 10.1
SECOND AMENDMENT TO AMENDED AND
RESTATED
ADDENDUM TO DISTRIBUTOR FRANCHISE
AGREEMENT
This Second Amendment to Amended and
Restated Addendum to Distributor Franchise Agreement (“Second
Amendment”) is entered into on this 17 day of October 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”); a First
Amendment to Amended and Restated Addendum to DFA on March 31,
2005, (the “First Amendment”); and
WHEREAS, CITGO and the Company
desire to change the contract term, scope, adder fees and other
terms and conditions of the First Amendment and/or the
Addendum;
NOW, THEREFORE, in consideration of
the premises and covenants contained herein, it is agreed that
Sections 2, 3, 4(II), 7 and 10 of the First Amendment and/or the
Addendum shall be changed as follows:
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1.
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Section 2
shall be replaced in its entirety and shall now read:
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“ CONTRACT TERM : The
Company agrees to extend the term of the DFA to August 31,
2010, a period of five (5) years from the effective date of
this Second Amendment. Thereafter, the DFA shall automatically
renew for additional three year periods unless terminated by
written notice given by either party not less than ninety
(90) days prior to the end of the term. The Addendum will
terminate upon termination of the DFA.”
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2.
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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:
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“Atlanta, GA; Columbus, GA;
Lookout Mountain, GA; Princeton, IN; Convent, LA; Panama City, FL;
Fayetteville, NC; Yorktown, VA (backup); Memphis, TN (backup); W.
Memphis, AR (backup); Pensacola, FL (backup).”
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3.
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Section 4(ii) shall be replaced in its entirety and shall now
read:
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“(II) The [***] shall be as
follows (in $/gal):
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Branded Gasoline
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Unbranded
Gasoline
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LSD
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Aggregate Gals. (in million gals/Contract
Year)
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RUL
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MID
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PREM
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