EXHIBIT 10.1

May 2, 2007

Citibank, N.A.

    As Agent

Two Penns Way

New Castle, Delaware 19720

Attention: Bank Loan Syndications

PepsiCo, Inc.

Ladies and Gentlemen:

Reference is made to the Five-Year Credit Agreement, dated as of May 22, 2006
(as amended or modified from time to time, the “Credit Agreement,” terms defined
therein and not otherwise defined herein being used herein as defined therein),
among PepsiCo Inc., a North Carolina corporation (the “Company”), the Lenders
(as defined in the Credit Agreement) parties thereto, Citibank, N.A., as agent
for the Lenders (the “Agent”), Citigroup Global Markets Inc. and J.P. Morgan
Securities Inc., as joint lead arrangers, and JPMorgan Chase Bank, N.A., as
syndication agent. Terms defined in the Credit Agreement are used herein with
the same meaning unless otherwise defined herein.

Pursuant to Section 2.06(b) of the Credit Agreement, the Lender named below
hereby notifies the Agent as follows:

The Lender named below desires to extend the Termination Date with respect to
its Commitment for a period of one year, to May 22, 2012.

This notice and consent is subject in all respects to the terms of the Credit
Agreement, is irrevocable and shall be effective only if received by the Agent
no later than May 2, 2007.

Very truly yours,

 

CITIBANK, N.A.

By:

 

/s/ CAROLYN KEE

Name:

 

Carolyn Kee

Title:

 

Vice President

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J.P. MORGAN CHASE BANK, N.A.

By:

 

/s/ THOMAS T. HOU

Name:

 

Thomas T. Hou

Title:

 

Executive Director

HSBC BANK USA, NA

By:

 

/s/ THOMAS A. FOLEY

Name:

 

Thomas A. Foley

Title:

 

Senior Vice President

MERRILL LYNCH BANK USA

By:

 

/s/ LOUIS ALDER

Name:

 

Louis Alder

Title:

 

Director

MORGAN STANLEY BANK

By:

 

/s/ DANIEL TWENGE

Name:

 

Daniel Twenge

Title:

 

Authorized Signatory

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UBS LOAN FINANCE LLC

By:

 

/s/ IRJA R. OTSA

Name:

 

Irja R. Otsa

Title:

 

Associate Director

By:

 

/s/ MARY E. EVANS

Name:

 

Mary E. Evans

Title:

 

Associate Director

BANK OF AMERICA, N.A.

By:

 

/s/ DAVID L. CATHERALL

Name:

 

David L. Catherall

Title:

 

Senior Vice President

THE BANK OF NEW YORK

By:

 

/s/ KEVIN HIGGINS

Name:

 

Kevin Higgins

Title:

 

Vice President

BANCO BILBAO VIZCAYA ARGENTARIA S.A.

By:

 

/s/ EMILIO DE LAS HERAS

Name:

 

Emilio de Las Heras

Title:

 

Head of New York

By:

 

/s/ JOHN MARTINI

Name:

 

John Martini

Title:

 

Vice President