Exhibit 10.2

AMENDMENT NO. 1

Dated as of July 11, 2018

to

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

Dated as of June 8, 2018

THIS AMENDMENT NO. 1 (this “Amendment”) is made as of July 11, 2018 by and among
Coca-Cola Bottling Co. Consolidated, a Delaware corporation (the “Borrower”),
the financial institutions listed on the signature pages hereof as Lenders and
JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”)
under that certain Second Amended and Restated Credit Agreement dated as of
June 8, 2018 by and among the Borrower, the Lenders party thereto and the
Administrative Agent (as amended, restated, supplemented or otherwise modified
from time to time prior to the date hereof, the “Existing Credit Agreement”).
Capitalized terms used herein and not otherwise defined herein shall have the
respective meanings given to them in the Amended Credit Agreement (as defined
below).

WHEREAS, the Borrower has requested that the Majority Lenders and the
Administrative Agent agree to make certain amendments to the Existing Credit
Agreement;

WHEREAS, the Borrower, the Lenders party hereto and the Administrative Agent
have so agreed on the terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the premises set forth above, the terms and
conditions contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Borrower, the
Lenders party hereto and the Administrative Agent hereby agree to enter into
this Amendment.

1.        Amendments to the Credit Agreement. Effective as of the Amendment
No. 1 Effective Date (as defined below), the parties hereto agree that the
Existing Credit Agreement is hereby amended to amend and restate the definition
of “Consolidated Funded Indebtedness/Cash Flow Ratio” in Section 1.01 thereof to
read in its entirety as set forth below (as so amended, the “Amended Credit
Agreement”):

“Consolidated Funded Indebtedness/Cash Flow Ratio” shall mean, at any time, the
ratio of (a) the aggregate amount, without duplication, of (i) Consolidated
Funded Indebtedness minus the Liquidity Amount and (ii) 50% of every Contingent
Obligation of the Borrower and its Consolidated Subsidiaries (other than any
Contingent Obligation in respect of any operating lease), determined and
consolidated in accordance with GAAP to (b) the aggregate of (i) Consolidated
Cash Flow for the then most recently concluded period of four consecutive fiscal
quarters of the Borrower and (ii) Acquisition Cash Flow for such period.

2.        Conditions of Effectiveness. The effectiveness of this Amendment (the
“Amendment No. 1 Effective Date”) is subject to the following conditions
precedent:

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(a)        The Administrative Agent shall have received counterparts of this
Amendment duly executed by the Borrower, the Majority Lenders and the
Administrative Agent.

(b)        The Administrative Agent shall have received payment of the
Administrative Agent’s and its affiliates’ fees and reasonable out-of-pocket
expenses (including the reasonable fees, charges and disbursements of counsel
for the Administrative Agent) in connection with this Amendment and the other
Loan Documents.

3.         Representations and Warranties of the Borrower. The Borrower hereby
represents and warrants as follows:

(a)        This Amendment and the Amended Credit Agreement constitute legal,
valid and binding obligations of the Borrower and are enforceable against the
Borrower in accordance with its terms, except as may be limited by bankruptcy,
insolvency, reorganization, moratorium or other similar laws relating to or
affecting the rights of creditors generally and except as the enforceability of
this Amendment and the Amended Credit Agreement is subject to the application of
general principles of equity (regardless of whether considered in a proceeding
in equity or at law), including, without limitation, (i) the possible
unavailability of specific performance, injunctive relief or any other equitable
remedy and (ii) concepts of materiality, reasonableness, good faith and fair
dealing.

(b)        As of the date hereof and after giving effect to the terms of this
Amendment, (i) no Default or Event of Default shall have occurred and be
continuing, and (ii) the representations and warranties of the Borrower set
forth in Section 4.01 the Amended Credit Agreement are true and correct in all
material respects as of the date hereof (unless expressly stated to relate to an
earlier date, in which case such representations and warranties shall be true
and correct in all material respects as of such earlier date).

4.         Reference to and Effect on the Existing Credit Agreement.

(a)        From and after the effectiveness of the amendment to the Existing
Credit Agreement evidenced hereby, the terms “Agreement”, “this Agreement”,
“herein”, “hereinafter”, “hereto”, “hereof” and words of similar import, as used
in the Amended Credit Agreement, shall, unless the context otherwise requires,
refer to the Amended Credit Agreement, and the term “Credit Agreement”, as used
in the other Loan Documents, shall mean the Amended Credit Agreement.

(b)        Each Loan Document and all other documents, instruments and
agreements executed and/or delivered in connection therewith shall remain in
full force and effect and are hereby ratified and confirmed.

(c)        The execution, delivery and effectiveness of this Amendment shall not
operate as a waiver of any right, power or remedy of the Administrative Agent or
the Lenders, nor constitute a waiver of any provision of the Existing Credit
Agreement, the Amended Credit Agreement, the Loan Documents or any other
documents, instruments and agreements executed and/or delivered in connection
therewith.

(d)        This Amendment is a Loan Document.

5.        No Novation. This Amendment shall not extinguish the Advances or other
obligations outstanding under the Existing Credit Agreement.

6.        Governing Law. This Amendment shall be construed in accordance with
and governed by the law of the State of New York.

 

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7.        Headings. Section headings in this Amendment are included herein for
convenience of reference only and shall not constitute a part of this Amendment
for any other purpose.

8.        Counterparts. This Amendment may be executed by one or more of the
parties hereto on any number of separate counterparts, and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument. Signatures delivered by facsimile or PDF shall have the same force
and effect as manual signatures delivered in person.

[Signature Pages Follow]

 

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IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year
first above written.

 

COCA-COLA BOTTLING CO. CONSOLIDATED,

as the Borrower

By:

 

/s/ David M. Katz

Name:  

 

David M. Katz

Title:

 

Executive Vice President and Chief Financial Officer

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of June 8, 2018

Coca-Cola Bottling Co. Consolidated

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JPMORGAN CHASE BANK, N.A., individually as a Lender

and as Administrative Agent

By:

 

/s/ Antje Focke

Name:  

 

Antje Focke

Title:

 

Executive Director

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of June 8, 2018

Coca-Cola Bottling Co. Consolidated

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PNC BANK, NATIONAL ASSOCIATION,

as a Lender

By:

 

/s/ Krutesh Trivedi

Name:

 

Krutesh Trivedi

Title:

 

Vice President

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of June 8, 2018

Coca-Cola Bottling Co. Consolidated

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BRANCH BANKING AND TRUST COMPANY,

as a Lender

By:

 

/s/ Kelly Attayek

Name:

 

Kelly Attayek

Title:

 

Assistant Vice President

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of June 8, 2018

Coca-Cola Bottling Co. Consolidated

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WELLS FARGO BANK, NATIONAL ASSOCIATION,

as a Lender

By:

 

/s/ Ekta Patel

Name:

 

Ekta Patel

Title:

 

Director

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of June 8, 2018

Coca-Cola Bottling Co. Consolidated

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SOUTH STATE BANK,

as a Lender

By:

 

/s/ Cutter D. Davis, Jr.

Name:

 

Cutter D. Davis, Jr.

Title:

 

Executive Vice President

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of June 8, 2018

Coca-Cola Bottling Co. Consolidated

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CITIBANK, N.A.,

as a Lender

By:

 

/s/ Michael Vondriska

Name:

 

Michael Vondriska

Title:

 

Vice President

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of June 8, 2018

Coca-Cola Bottling Co. Consolidated

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COÖPERATIEVE RABOBANK U.A.,

NEW YORK BRANCH,

as a Lender

By:

 

/s/ Adriaan Weststrate

Name:

 

Adriaan Weststrate

Title:

 

Managing Director

By:

 

/s/ Jennifer Smith

Name:

 

Jennifer Smith

Title:

 

Vice President

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of June 8, 2018

Coca-Cola Bottling Co. Consolidated