Exhibit 10.64

THIRD AMENDMENT TO THE BRANDED JOBBER CONTRACT

This Third Amendment to the Branded Jobber Contract (“Third Amendment”) July 18,
2006 (“Amendment Date”) is between BP Products North America Inc., a Maryland
corporation with offices at 28100 Torch Parkway, Warrenville, Illinois 60555
(“Company”), and The Pantry, Inc., a Delaware corporation with an address at
Post Office Box 1410, 1801 Douglas Drive, Sanford, North Carolina 27330
(“Jobber”).

WITNESSETH:

WHEREAS, Company and Jobber have entered into a Branded Jobber Contract dated
February 1, 2003 (“Branded Jobber Contract”), as amended by an Amendment to the
Branded Jobber Contract dated February 14, 2003 (“First Amendment”) and a Second
Amendment to the Branded Jobber Contract dated June 11, 2004 (“Second
Amendment”), in which Company agrees to sell and Jobber agrees to purchase and
receive Company’s currently offered and available BP branded gasoline products,
as determined and designated by Company; and

WHEREAS, both parties desire to amend the Branded Jobber Contract, as amended,
and to amend and restate the First Amendment and Second Amendment, to include
additional terms and conditions and modify existing terms and conditions.

IN CONSIDERATION OF the mutual covenants, conditions and promises contained in
this Third Amendment, Company and Jobber hereby agree as follows:

 

A. Capitalized Terms. Unless as otherwise indicated, all capitalized terms used
but not defined in this Third Amendment have the same meanings assigned to them
in the Branded Jobber Contract.

 

B. Restatement and Termination of Previous Amendments. This Third Amendment
amends, restates and supersedes all terms and conditions of the First Amendment
and Second Amendment. As of the Amendment Date, the First Amendment and Second
Amendment are deleted in their entirety and will have no further effect.

 

C. Amended Terms.

 

  1. Paragraph 1 of the Branded Jobber Contract is deleted in its entirety and
replaced with the following:

 

  1. Term. The term covered by this Contract will be for a period beginning on
February 1, 2003 and ending on September 30, 2012, unless terminated earlier by
law or by the terms of this Contract or unless extended by Company upon written
notice. If the franchise relationship underlying this Contract continues for any
reason beyond the expiration date indicated above, this Contract will be
extended until terminated or until superseded by a new branded jobber contract,
if offered.

 

1

--------------------------------------------------------------------------------

  2. The following language is added to the end of paragraph 12(h) of the
Branded Jobber Contract:

Notwithstanding paragraph 12(f) of the Contract, a sale, conveyance, alienation,
transfer, merger or other change of legal or beneficial interest resulting in a
change in control of Jobber will not trigger Company’s Right to Purchases if at
the time it notifies Company of the intended change of control Jobber is a
publicly traded corporation-being listed on a national stock exchange or
included in a national automated stock quotation system in the United States.
Regardless of the exception allowed in this paragraph 12(h), subject to any
applicable restrictions under the federal securities laws, Jobber will promptly
provide Company with written notice as required under Paragraph 12(g) above.

 

  3. The phrase “Subject to paragraph 12(h),” is added to the beginning of the
second sentence of Paragraph 13(a) of the Branded Jobber Contract.

 

  4. Paragraph 34 of the Branded Jobber Contract is added as follows:

34. Additional Terms.

Paragraph 4(a) - Credit policy and forms of security. As a substitute for the
requirement in paragraph 4(a) of the Branded Jobber Contract that Jobber
executes an Unlimited Guaranty under all circumstances, Company will instead
require that Jobber provide either an Unlimited Guaranty or some other form of
security acceptable to Company, in its sole discretion. In addition, if Company
does extend credit to Jobber, it will do so according to an established credit
policy, as amended from time to time. Notwithstanding the above, all other terms
and conditions in paragraph 4(a) will remain unchanged.

Paragraphs [ * * * ]– [ * * * ]. The requirement in paragraph [ * * * ] of the
Branded Jobber Contract that Jobber must provide Company with a Right of First
Offer on those assets identified with or by [ * * * ], shall apply only in those
situations where Jobber [ * * * ], in which case, Jobber may elect to provide
Company either of the following:

 

  a. a right to [ * * * ] on all of [ * * * ] with its petroleum business; or

 

  b. a [ * * * ] with or by Company’s [ * * * ].

 

--------------------------------------------------------------------------------

[***] Confidential treatment requested pursuant to a request for confidential
treatment filed with the Securities and Exchange Commission. Omitted portions
have been filed separately with the Commission.

 

2

--------------------------------------------------------------------------------

Company’s assignment rights under paragraph [ * * * ] will include the right to
assign [ * * * ].

Paragraphs [ * * * ]. [ * * * ] Jobber [ * * * ] Company with a [ * * * ] as
provided above, Jobber [ * * * ] Company [ * * * ] and [ * * * ] of all contract
documents [ * * * ] agreement and any [ * * * ] and [ * * * ] Company: to [ * *
* ] of the agreement; and, [ * * * ] agreement include Jobber’s [ * * * ] assign
[ * * * ], [ * * * ]. [ * * * ] within which to [ * * * ] by written notice to
Jobber. [ * * * ] will be [ * * * ] and [ * * * ] to Company and Jobber, [ * * *
] after Company [ * * * ]. [ * * * ] with [ * * * ] and [ * * * ], subject only
to [ * * * ], [ * * * ] and [ * * * ] that were [ * * * ] to the [ * * * ].

Paragraphs [ * * * ]. As a substitute for Company’s [ * * * ], Company will
instead [ * * * ] and [ * * * ] to assume [ * * * ] and other [ * * * ] under
the Contract if they have [ * * * ]. Notwithstanding the above, all other terms
and conditions in paragraphs [ * * * ] will remain unchanged.

Paragraph [ * * * ]. In those situations where a [ * * * ] is [ * * * ] -
Company will [ * * * ] the [ * * * ] and its [ * * * ] by [ * * * ] and [ * * *
] the applicable [ * * * ]. Notwithstanding the above, all other terms and
conditions in paragraph [ * * * ] and any other applicable provisions will
remain unchanged.

Paragraph [ * * * ]. Company will not [ * * * ] the [ * * * ] of paragraph [ * *
* ] of the Branded Jobber Contract in situations where, in the Company’s sole
opinion, Jobber [ * * * ] in the [ * * * ] the Jobber’s [ * * * ].
Notwithstanding the above, all other terms and conditions in paragraph [ * * * ]
and any other applicable provision will remain unchanged.

 

  5. Paragraph 35 of the Branded Jobber Contract is added as follows:

35. Minimum Volume. During each period indicated in the chart below, Jobber will
purchase a minimum volume of Branded Product (as defined below) (“Minimum Volume
Requirement”) as specifically set forth below; provided, however, that Jobber’s
compliance with the Minimum Volume Requirement for the period ended [ * * * ]
shall be

 

--------------------------------------------------------------------------------

[***] Confidential treatment requested pursuant to a request for confidential
treatment filed with the Securities and Exchange Commission. Omitted portions
have been filed separately with the Commission.

 

3

--------------------------------------------------------------------------------

determined by multiplying the gallons of Branded Product purchased during [ * *
* ] times 24. For purposes of paragraphs 35, 36, 37, 38, 44 and 45 of the
Branded Jobber Contract, “Branded Product” means branded gasoline products and
does not include diesel fuel (unbranded or branded) and unbranded gasoline
products.

 

Period

  

Minimum Volume

Requirement

(in gallons)

From

   To    July 1, 2005    Sept. 30, 2006    485,000,000 Oct. 1, 2006    Sept. 30,
2008    1,074,000,000 Oct. 1, 2008    Sept. 30, 2010    1,232,000,000 Oct. 1,
2010    Sept. 30, 2012    1,412,000,000

 

  6. Paragraph 36 of the Branded Jobber Contract is added as follows:

36. Minimum Volume Requirement Guarantee. In any period in which Jobber fails to
purchase the Minimum Volume Requirement as set forth in paragraph 35, Jobber
will pay to Company an amount equal to two cents ($.02) per gallon times the
difference between the actual volume of Branded Product purchased and the
Minimum Volume Requirement during the given period. If some or all of Jobber’s
failure to purchase the Minimum Volume Requirement is attributable to Company
exercising its rights under paragraph 22 of this Contract, Jobber’s [ * * * ] in
the previous sentence is [ * * * ] by an amount equal to [ * * * ] per gallon
times the number of gallons not purchased by Jobber due exclusively to Company
exercising its rights under paragraph 22 of this Contract. Jobber will make such
payment to Company within 30 days of receiving an invoice from Company via
Electronic Fund Transfer (EFT). Should a dispute arise as to whether a Minimum
Volume Requirement guarantee payment is due, or the amount thereof, such dispute
shall be resolved by arbitration by three (3) independent arbitrators, one
designated by the Company, one designated by the Jobber and one designated by
the two (2) so chosen.

 

  7. Paragraph 37 of the Branded Jobber Contract is added as follows:

37. [ * * * ]. Company will provide [ * * * ] on Jobber’s [ * * * ] as follows:

 

--------------------------------------------------------------------------------

[***] Confidential treatment requested pursuant to a request for confidential
treatment filed with the Securities and Exchange Commission. Omitted portions
have been filed separately with the Commission.

 

4

--------------------------------------------------------------------------------

  (a) Effective June 11, 2004 and ending pursuant to the Term of this Third
Amendment, Company will [ * * * ], beginning with the [ * * * ] and [ * * * ]
notwithstanding the [ * * * ], [ * * * ]:

[ * * * ]

[ * * * ]

[ * * * ]

Company will [ * * * ] with [ * * * ] from such [ * * * ] on or about the 15th
day of the month for [ * * * ] of [ * * * ] made in the previous month. The [ *
* * ] will be determined by [ * * * ].

 

  (b) Company will provide [ * * * ] ([ * * * ] which fall into one of the
volume ranges listed below. The [ * * * ] on [ * * * ] during such period will
be as follows:

 

[ * * * ]    …..    $[ * * * ]/[ * * * ] [ * * * ]    …..    $[ * * * ]/[ * * *
] [ * * * ]    …..    $[ * * * ]/[ * * * ]

[ * * * ] will be [ * * * ] on each anniversary of the effective date of the [ *
* * ] set forth above and [ * * * ] within thirty (30) days thereafter. The [ *
* * ].

For example, [ * * * ] gallons annually so [ * * * ] would [ * * * ] as an [ * *
* ] under paragraph 37(b) as follows:

([ * * * ] - [ * * * ] gallons = [ * * * ] gallons x [ * * * ] = $[ * * * ])

([ * * * ] - [ * * * ] gallons = [ * * * ] gallons x [ * * * ] = $[ * * * ])

([ * * * ] - [ * * * ] gallons = [ * * * ] gallons x [ * * * ] = $[ * * * ])

[ * * * ] will not be entitled to the [ * * * ] for any [ * * * ] below [ * * *
] gallons.

 

--------------------------------------------------------------------------------

[***] Confidential treatment requested pursuant to a request for confidential
treatment filed with the Securities and Exchange Commission. Omitted portions
have been filed separately with the Commission.

 

5

--------------------------------------------------------------------------------

  8. Paragraph 38 of the Branded Jobber Contract is added as follows:

38. Credit Terms. Company will extend payment and credit terms to Jobber at [ *
* * ] with a [ * * * ] % [ * * * ] on total purchases of Branded Product. Jobber
will provide to Company a letter of credit in the amount of $[ * * * ]. Company
may increase the required amount of the letter of credit on a quarterly basis
based upon the incremental volume purchased during that previous quarter.
Thereafter, Company will review Jobber’s purchases on a quarterly basis and may
require increases in the amount of the Letter of Credit commensurate with any
new volume of Branded Product purchased during the previous quarter.

 

  9. Paragraph 39 of the Branded Jobber Contract is added as follows:

39. Site Reimage and JOIP. Upon Company approval, Jobber will be eligible to
receive reimbursement for, and Company will pay, an amount equal to (a) Jobber’s
actual costs (based on actual invoices) for converting a non-BP branded site to
a BP branded retail site, up to a maximum amount of $[ * * * ] per reimaged
site, and (b) [* * *] percent ([* * *] %) of any non-BP unamortized liability
related to such site and for which Jobber is obligated, up to a maximum amount
of $[ * * * ] per reimaged site. The parties will execute a Jobber Outlet
Incentive Contract (“JOIP Contract”) for each Approved Retail Site and will
comply with amortization schedules set forth in such JOIP Contract, which
amortization schedules will be [ * * * ] for a [ * * * ] site (annual Branded
Product volume in excess of [ * * * ] gallons) and [ * * * ] for a [ * * * ]
site (annual Branded Product volume of more than [ * * * ] gallons but less than
[ * * * ] gallons). Except as specifically set forth in the previous sentence,
Jobber will not be eligible for any payments or compensation under any existing
or future (“JOIP”) or similar programs.

 

  10. Paragraph 40 of the Branded Jobber Contract is added as follows:

40. Site Acquisitions and Outstanding Obligations. Upon acquiring a BP-branded
retail site, Jobber will assume any contracts and unamortized balance of Seller
related to outstanding JOIP or Reimage obligations. After assuming a JOIP or
Reimage contract, Jobber and Company will amend such contract to release Company
from any obligations to pay additional JOIP or Reimage funds to Jobber after the
date of the contract assumption.

 

--------------------------------------------------------------------------------

[***] Confidential treatment requested pursuant to a request for confidential
treatment filed with the Securities and Exchange Commission. Omitted portions
have been filed separately with the Commission.

 

6

--------------------------------------------------------------------------------

  11. Paragraph 41 of the Branded Jobber Contract is added as follows:

41. Promotional Programs. Except as specifically set forth in paragraphs 42 and
45 below, Jobber will not be eligible for any existing or future promotional
programs offered by Company, including without limitation the co-op advertising
program for Company’s jobbers and the Growth Through Assurance program.

 

  12. Paragraph 42 of the Branded Jobber Contract is added as follows:

42. Advertising. Except for the co-op advertising program offered by Company for
its jobbers, Jobber will participate in such Company’s then-current advertising
programs on the same terms and conditions as other Company-designated Retail
Sites (“Branded Retail Sites”) displaying the brand as designated by Company.
Any advertising and promotional materials or programs developed and funded by
Jobber to promote the company-designed brand at Jobber’s Branded Retail Sties
will be submitted to Company for review and written approval prior to using such
material or program.

 

  13. Paragraph 43 of the Branded Jobber Contract is added as follows:

43. [ * * * ]. For any [ * * * ] or [ * * * ] that Jobber [ * * * ] and [* * *
], Jobber will grant to Company the [ * * * ] to authorize [ * * * ] to the
Company [ * * * ]. As Jobber [ * * * ] or [ * * * ], Jobber will provide to
Company information regarding the [ * * * ], [ * * * ], and such other
information and data as company may require. Company will have [ * * * ] to
review the information submitted and notify jobber in writing as to whether
Company will authorize the company brand for such [ * * * ]. This [ * * * ] will
[ * * * ] to [ * * * ] the [ * * * ] to the [ * * * ].

 

  14. Paragraph 44 of the Branded Jobber Contract is added as follows:

44. [ * * * ]. On a [ * * * ] for each [ * * * ] from which Jobber [ * * * ] and
for each grade of gasoline, [ * * * ] for gasoline products at that terminal. If
the [ * * * ], Company will [ * * * ] to Jobber an [ * * * ] to the [ * * * ]
for [ * * * ] purchases during the same [ * * * ].

In the event that the [ * * * ], Jobber will [ * * * ] to Company an [ * * * ]
that [ * * * ].

 

--------------------------------------------------------------------------------

[***] Confidential treatment requested pursuant to a request for confidential
treatment filed with the Securities and Exchange Commission. Omitted portions
have been filed separately with the Commission.

 

7

--------------------------------------------------------------------------------

A schedule of this [ * * * ] (as illustrated by the attached “Exhibit A”) will
be prepared and delivered by Jobber to Company within 20 business days following
the end of each calendar quarter and the [ * * * ] will be made via EFT within
10 business days following receipt of the [ * * * ].

[ * * * ]:

 

[ * * * ]   [ * * * ]   [ * * * ]   [ * * * ] [ * * * ]   [ * * * ]   [ * * * ]
  [ * * * ] [ * * * ]   [ * * * ]   [ * * * ]   [ * * * ]

[ * * * ]

 

[ * * * ]   [ * * * ]   [ * * * ]   [ * * * ] [ * * * ]   [ * * * ]   [ * * * ]
  [ * * * ] [ * * * ]   [ * * * ]   [ * * * ]   [ * * * ]

 

  15. Paragraph 45 is added to the Branded Jobber Contract as follows:

[ * * * ]

 

  16. Paragraph 46 is added to the Branded Jobber Contract as follows:

46. Brand Refresh Program. The parties acknowledge that Company may, from time
to time, enhance, change or modify its Trade Identities and the visual standards
for Approved Retail Sties “(Brand Refresh”). In the event that Company imposes a
Brand Refresh requirement within twelve (12) months of the expiration of the
Branded Jobber Contract and Company does not offer jobbers a program in which
Company shares in the cost of performing the Brand Refresh at Approved Retail
Sites, Jobber may, at its option, decline to perform the Brand Refresh at
Approved Retail Sites.

 

--------------------------------------------------------------------------------

[***] Confidential treatment requested pursuant to a request for confidential
treatment filed with the Securities and Exchange Commission. Omitted portions
have been filed separately with the Commission.

 

8

--------------------------------------------------------------------------------

D. Entire Agreement. Except as expressly provided in this Third Amendment, all
terms and conditions of the Branded Jobber Contract shall remain in full force
and effect. The Branded Jobber Contract, as amended by this Third Amendment,
expresses the entire agreement of Buyer and Seller with respect to its subject
matter. Neither party has made any promise or inducement which is not expressly
set forth in the Branded Jobber Contract or this Third Amendment. Upon the
Amendment Date, each reference in the Branded Jobber Contract to “this Branded
Jobber Contract,” “this Contract” or “this contract” shall mean and be a
reference to the Branded Jobber Contract as amended hereby.

 

E. Counterparts. This Third Amendment may be executed in one or more
counterparts, each of which shall be deemed an original but all of which taken
shall constitute one and the same instrument.

 

F. Conflicting Terms. Notwithstanding anything herein to the contrary, to the
extent that any of the terms and conditions of the Branded Jobber Contract
conflict with this Third Amendment, this Third Amendment shall control.

 

G. Ratification of Branded Jobber Contract. As amended herein and hereby,
Company and Jobber ratify and reaffirm the terms of the Branded Jobber Contract
and acknowledge that this Third Amendment is incorporated within the Branded
Jobber Contract.

 

9

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties have caused this Third Amendment to be executed
as of the Amendment Date.

 

BP Products North America Inc.      The Pantry, Inc.

/s/ John Melo

    

/s / Peter J. Sodini

Name:    John Melo      Name:   Peter J. Sodini Title:    President, US Fuels
Operations      Title:   Chief Executive Officer

 

10