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SECOND AMENDMENT TO AMENDED AND RESTATED ADDENDUM TO DISTRIBUTOR FRANCHISE AGREEMENT

Franchise Agreement

SECOND AMENDMENT TO AMENDED AND RESTATED ADDENDUM TO DISTRIBUTOR FRANCHISE AGREEMENT | Document Parties: PANTRY INC | CITGO Petroleum Corporation You are currently viewing:
This Franchise Agreement involves

PANTRY INC | CITGO Petroleum Corporation

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Title: SECOND AMENDMENT TO AMENDED AND RESTATED ADDENDUM TO DISTRIBUTOR FRANCHISE AGREEMENT
Date: 2/7/2006
Industry: Retail (Grocery)     Sector: Services

SECOND AMENDMENT TO AMENDED AND RESTATED ADDENDUM TO DISTRIBUTOR FRANCHISE AGREEMENT, Parties: pantry inc , citgo petroleum corporation
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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:

 

1.

Section 2 shall be replaced in its entirety and shall now read:

 

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.”

 

2.

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:

 

“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).”


3.

Section 4(ii) shall be replaced in its entirety and shall now read:

 

“(II) The [***] shall be as follows (in $/gal):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Branded Gasoline


 

 

 

Unbranded
Gasoline


 

 

 

LSD


 

 

Aggregate Gals. (in million gals/Contract Year)


 

  

RUL


 

 

 

MID


 

 

 

PREM



 
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