Exhibit 10.1

WAIVER AND CONSENT NO. 2 dated as of May 10, 2019 (this “Waiver”), among THE
KRAFT HEINZ COMPANY, a Delaware corporation (“Kraft Heinz”), KRAFT HEINZ FOODS
COMPANY, a Pennsylvania limited liability company (the “Parent Borrower”), the
LENDERS party hereto and JPMORGAN CHASE BANK, N.A., in its capacity as
administrative agent (the “Administrative Agent”).

Reference is made to (i) the Credit Agreement dated as of July 6, 2015 (as
amended, supplemented or otherwise modified from time to time prior to the date
hereof, the “Credit Agreement”), among Kraft Heinz, the Parent Borrower, the
Lenders party thereto, the Administrative Agent and J.P. Morgan Europe Limited,
as London agent, and (ii) the Waiver and Consent No. 1 dated as of March 22,
2019 (“Waiver No. 1”) among Kraft Heinz, the Parent Borrower, the Lenders party
thereto and the Administrative Agent. Capitalized terms used and not otherwise
defined herein shall have the meanings assigned to them in the Credit Agreement.

Kraft Heinz and the Parent Borrower have requested, and the Administrative Agent
and the Lenders party hereto (which constitute the Required Lenders) agree, in
accordance with Section 9.01 of the Credit Agreement, to grant a one-time
temporary waiver of compliance with (i) Section 5.01(c)(ii) with respect to the
consolidated financial statements of Kraft Heinz and its Subsidiaries for the
fiscal year ended December 29, 2018 and (ii) Section 5.01(c)(i) with respect to
the unaudited interim condensed consolidated balance sheet of Kraft Heinz and
its Subsidiaries as of the end of the quarter ended March 30, 2019 and unaudited
interim condensed consolidated statements of earnings and cash flows of Kraft
Heinz and its Subsidiaries for the period commencing at the end of the previous
fiscal year and ending with the end of such quarter.

NOW, THEREFORE, in consideration of the premises and covenants contained herein
and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto, intending to be legally bound
hereby, agree as follows:

Section 1.    Waiver and Consent. Subject to the satisfaction of the conditions
precedent set forth in Section 3 hereof:

(a)    The Lenders party hereto hereby grant (i) a one-time temporary waiver,
until June 28, 2019 (the “2018 Annual Financial Statements Extension Deadline”),
of compliance by Kraft Heinz and the Parent Borrower with the requirement to
furnish to the Lenders a copy of the consolidated financial statements of Kraft
Heinz and its Subsidiaries for the fiscal year ended December 29, 2018, audited
by PricewaterhouseCoopers LLP (or other independent auditors which, as of the
date of this Agreement, are one of the “big four” accounting firms) (the “2018
Annual Financial Statements”) as required by Section 5.01(c)(ii) of the Credit
Agreement and (ii) a one-time temporary waiver, until July 31, 2019 (the “2019
Q1 Financial Statements Extension Deadline”), of the unaudited interim condensed
consolidated balance sheet of Kraft Heinz and its Subsidiaries as of the end of
the quarter ended March 30, 2019 and unaudited interim condensed consolidated
statements of earnings and cash flows of Kraft Heinz and its Subsidiaries for
the period commencing at the end of the previous fiscal year and ending with the
end of such quarter (the “2019 Q1 Financial Statements”), it being understood
and agreed that Sections 5.01(c)(i) and 5.01(c)(ii) of the Credit Agreement
shall be deemed to require Kraft Heinz and the Parent Borrower to furnish to the
Lenders the 2018 Annual Financial Statements and the 2019 Q1 Financial
Statements, as applicable, on or prior to the 2018 Annual Financial Statements
Extension Deadline or the 2019 Q1 Financial Statements Extension Deadline, as
applicable.

 

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(b)    During the period from and after the Waiver Effective Date (as defined
below) to and including (i) the 2018 Annual Financial Statements Extension
Deadline or (ii) in the event Kraft Heinz and the Parent Borrower furnish to the
Lenders the 2018 Annual Financial Statements on or prior to the 2018 Annual
Financial Statements Extension Deadline, the 2019 Q1 Financial Statements
Extension Deadline, the condition precedent to each Pro Rata Borrowing set forth
in Section 3.03(b) of the Credit Agreement shall be deemed to be satisfied if
such condition precedent would otherwise be satisfied but for the failure of
Kraft Heinz and the Parent Borrower to furnish the 2018 Annual Financial
Statements and/or the 2019 Q1 Financial Statements, as applicable, to the
Lenders within the applicable periods set forth in Sections 5.01(c)(i) and
5.01(c)(ii) of the Credit Agreement.

Section 2.    Representations and Warranties. Kraft Heinz and the Parent
Borrower represents and warrants that as of the date hereof and the Waiver
Effective Date:

(a)    After giving effect to this Waiver, the representations and warranties of
Kraft Heinz and the Parent Borrower contained in Article IV of the Credit
Agreement and in the Holdco Guaranty Agreement are true and correct in all
material respects; provided that, to the extent that such representations and
warranties specifically refer to an earlier date, they are true and correct in
all material respects as of such earlier date; provided further that any
representation and warranty that is qualified as to “materiality,” “Material
Adverse Effect” or similar language is true and correct (after giving effect to
any qualification therein) in all respects.

(b)    After giving effect to this Waiver, no Default or Event of Default has
occurred and is continuing.

Section 3.    Conditions to Effectiveness.

This Waiver shall become effective on the first date (the “Waiver Effective
Date”) on which the following conditions have been satisfied:

(a)    The Administrative Agent shall have received executed counterparts of
this Waiver by (i) Kraft Heinz, (ii) the Parent Borrower, (iii) the
Administrative Agent and (iv) the Required Lenders.

(b)    The Administrative Agent shall have received a certificate, dated the
Waiver Effective Date and signed by a duly authorized officer of Kraft Heinz,
confirming the accuracy of the representations and warranties contained in
Section 2 hereof.

The Administrative Agent shall notify Kraft Heinz, the Parent Borrower and the
Lenders of the Waiver Effective Date and such notice shall be conclusive and
binding.

Section 4.    Fees and Expenses. Kraft Heinz and the Parent Borrower agree to
reimburse the Administrative Agent for its reasonable and documented
out-of-pocket expenses incurred by it in connection with this Waiver, including
the reasonable fees, charges and disbursements of Cravath, Swaine & Moore LLP,
counsel for the Administrative Agent.

 

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Section 5.    Counterparts.

This Waiver may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which when so executed shall be
deemed to be an original and all of which taken together shall constitute one
and the same agreement. Delivery of an executed counterpart of a signature page
of this Waiver by facsimile transmission or other electronic communication
(i.e., TIF or PDF or other similar communication) shall be effective as delivery
of a manually executed counterpart of this Waiver.

Section 6.    Governing Law; Waiver of Right to Trial by Jury, Etc.

THIS WAIVER AND ANY CLAIM, CONTROVERSY, DISPUTE OR CAUSE OF ACTION ARISING UNDER
OR RELATED TO THIS WAIVER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE SUBSTANTIVE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CHOICE OF
LAW DOCTRINES. The provisions of Sections 9.03, 9.04(a), 9.04(c), 9.06, 9.11 and
9.16 of the Credit Agreement are hereby incorporated by reference as if set
forth in full herein, mutatis mutandis.

Section 7.    Headings.

The headings of this Waiver are for purposes of reference only and shall not be
deemed to limit, amplify or modify the terms of this Waiver, nor affect the
meaning hereof.

Section 8.    Effect of Waiver; References to the Credit Agreement.

Except as expressly set forth herein, this Waiver shall not by implication or
otherwise limit, impair, constitute a waiver of or otherwise affect the rights
and remedies of any Agent, any Lender or any Issuing Bank under the Credit
Agreement, Waiver No. 1, the Holdco Guaranty Agreement or any agreement or
document relating thereto, and except as expressly provided in this Waiver,
shall not alter, modify, amend or in any way affect any of the terms,
conditions, obligations, covenants or agreements contained in the Credit
Agreement, the Holdco Guaranty Agreement or any such other agreement or
document, all of which are ratified and affirmed in all respects and shall
continue in full force and effect. On and after the Waiver Effective Date, each
reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or
words of like import referring to the Credit Agreement shall mean and be a
reference to the Credit Agreement as waived and consented to hereby. Nothing
herein shall entitle Kraft Heinz or the Parent Borrower to a consent to, or a
waiver, extension, amendment, modification or other change of, any of the terms,
conditions, obligations, covenants or agreements contained in the Credit
Agreement, the Holdco Guaranty Agreement or any agreement or document relating
thereto in any similar or different circumstances.

[REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Waiver to be duly
executed as of the date first above written.

 

THE KRAFT HEINZ COMPANY, By:   /s/ Yang Xu   Name:   Yang Xu   Title:  
Treasurer KRAFT HEINZ FOODS COMPANY, By:   /s/ Ciao Xing   Name:   Ciao Xing  
Title:   Assistant Treasurer

 

 

 

[KRAFT HEINZ – WAIVER AND CONSENT NO. 2 TO CREDIT AGREEMENT]

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JPMORGAN CHASE BANK N.A., as

Administrative Agent and a Lender

By:   /s/ Tony Yung   Name:   Tony Yung   Title:   Executive Director

 

 

 

 

[KRAFT HEINZ – WAIVER AND CONSENT NO. 2 TO CREDIT AGREEMENT]

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender: BANCO SANTANDER, S.A., NEW YORK BRANCH

 

by  

/s/ /s/ Rita Walz-Cuccioli

  Name:   Rita Walz-Cuccioli   Title:  

Executive Director

Bank Santander, S.A. New York Branch

   

For any Lender requiring a second signature line:

 

by  

/s/ /s/ Terence Corcoran

  Name:   Terence Corcoran   Title:  

Executive Director

Banco Santander, S.A, New York Branch

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender: Bank of America, N.A.

 

by  

/s/ Casey Cosgrove

  Name:   Casey Cosgrove   Title:   Director

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender: BARCLAYS BANK PLC   Lender: BARCLAYS BANK PLC               
        by  

/s/ Jake Lam

    Name: Jake Lam     Title:   Assistant Vice President

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender:   Lender: BNP PARIBAS                    by  

/s/ Michael Pearce

    Name:   Michael Pearce     Title:   Managing Director       For any Lender
requiring a second signature line:           by  

/s/ Emma Petersen

    Name:   Emma Petersen     Title:   Director

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender: Citibank, N.A.   Lender:                    by  

/s/ Carolyn Kee

    Name:   Carolyn Kee     Title:   Vice President

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender:   Lender: Cooperatieve Rabobank U.A. New York Branch           
        by  

/s/ Olivia Leong

    Name: Olivia Leong     Title:   Executive Director For any Lender requiring
a second signature line:           by  

/s/ Maria Fridman

    Name: Maria Fridman     Title:   Executive Director

 

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender: Credit Agricole Corporate and Investment Bank     Lender:
        by  

/s/ Jill Wong

  Name:   Jill Wong   Title:   Director     For any Lender requiring a second
signature line:         by  

/s/ Gordon Yip

  Name:   Gordon Yip   Title:   Director

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender: CREDIT SUISSE AG,

                             CAYMAN ISLANDS BRANCH

    Lender:         by  

/s/ Vipul Dhadda

  Name:   Vipul Dhadda   Title:   Authorized Signatory     For any Lender
requiring a second signature line:         by  

/s/ Marc Zihlmann

  Name:   Marc Zihlmann   Title:   Authorized Signatory

 

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender:   Lender: DEUTSCHE BANK AG NEW YORK BRANCH                    by
 

/s/ Ming K. Chu

    Name: Ming K. Chu     Title:   Director For any Lender requiring a second
signature line:           by  

/s/ Virginia Cosenza

    Name: Virginia Cosenza     Title:   Vice President

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender:     Lender: GOLDMAN SACHS BANK USA         by  

/s/ Jamie Minieri

  Name: Jamie Minieri   Title:   Authorized Signatory

 

For any Lender requiring a second signature line:         by  

     

  Name:     Title:  

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Lender: HSBC BANK USA, N.A.     by  

/s/ Rafael De Paoli

  Name: Rafael De Paoli   Title:   Managing Director

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender: INTESA SANPAOLO S.p.A., New York Branch         by  

/s/ Jordan Schweon

  Name:   Jordan Schweon   Title:   Global Relationship Manager     For any
Lender requiring a second signature line:         by  

/s/ Francesco Di Mario

  Name:   Francesco Di Mario   Title:   FVP & Head of Credit

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender: Mizuho Bank, Ltd.     Lender: Mizuho Bank, Ltd.         by  

/s/ Tracy Rahn

  Name: Tracy Rahn   Title:   Authorized Signatory

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender: MORGAN STANLEY BANK N.A.   Lender: MORGAN STANLEY BANK N.A.
                   by  

/s/ Christopher Tarnowsky

    Name: Christopher Tarnowsky     Title:   Authorized Signatory   For any
Lender requiring a second signature line:           by  

 

    Name:     Title:

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender: MUFG Bank, Ltd. (formerly known as the Bank of Tokyo-Mitsubishi
UFJ, Ltd.)            by   /s/ Reema Sharma    

 

Name: Reema Sharma

    Title:   Director

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender: ROYAL BANK OF CANADA

 

Lender: ROYAL BANK OF CANADA     by  

/s/ John Flores

  Name: John Flores   Title:   Authorized Signatory

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender:     Lender: Standard Chartered Bank           by  

/s/ Daniel Mattern

    Name: Daniel Mattern     Title:   Associate Director    

  Standard Chartered Bank

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

Name of Lender: Sumitomo Mitsui Banking Corporation     by  

/s/ Michael Maguire

  Name: Michael Maguire   Title:   Executive Director

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SIGNATURE PAGE TO

WAIVER AND CONSENT NO. 2 TO THE CREDIT AGREEMENT OF

THE KRAFT HEINZ COMPANY AND KRAFT HEINZ FOODS COMPANY

 

WELLS FARGO BANK, NATIONAL ASSOCIATION     by  

/s/ Mark Holm

  Name: Mark Holm   Title:   Managing Director