Document:

AGREEMENT TO ASSUME LIABILITY FOR POSTRETIREMENT BENEFITS

  Exhibit 10.17
 TRANSFER AND ASSUMPTION
OF LIABILITIES AGREEMENT
 THIS TRANSFER AND ASSUMPTION OF LIABILITIES AGREEMENT made and entered into as of this 19th day of
December, 1996 (this “Agreement”) by and between CCBCC, Inc., a Delaware corporation
(“CCBCC”), PIEDMONT COCA-COLA BOTTLING PARTNERSHIP a Delaware general partnership (“PCCBP”).
 W I T N E S S E T H
 WHEREAS, CCBCC was established by
Coca-Cola Bottling Co. Consolidated, the Managing Agent of PCCBP (“Consolidated”), to act as the common employer for all personnel utilized by
Consolidated in its operations, including the personnel which it uses in the management and operation of PCCBP and PCCBP’s subsidiary, and, to that end, most former employees of PCCBP and its subsidiary are now employed by CCBCC and are leased
to PCCBP and its subsidiary; and
 WHEREAS, PCCBP believes it to be in its best interest, to the extent feasible, to consolidate all
employee-related matters in CCBCC, so that all personnel and personnel-related functions will be handled by CCBCC; and
 WHEREAS, in
connection with the, foregoing, PCCBP desires to transfer to CCBCC certain of PCCBP’s retiree health care benefit liabilities for former employees who either are retired or are employed by CCBCC, a schedule of which liabilities and the amount
thereof is attached hereto as Exhibit 1 (the “Assumed Liabilities”); and
 
 

  WHEREAS, PCCBP is transferring the Assumed Liabilities, and making a transfer of cash in the amount of
$8,177,000 in exchange for 805.31 shares of CCBCC’s Series A Preferred Stock (the “Capital Contribution”); and
 WHEREAS, the parties hereto wish to enter this Agreement in order to effectuate the transfer and the assumption of the Assumed Liabilities in accordance
with the terms of this Agreement;
 NOW THEREFORE, in consideration of the mutual covenants contained herein and other good and
valuable consideration, the receipt and sufficiency of which PCCBP hereby acknowledges, the parties hereto agree as follows:
 1.        For and consideration of the issuance to PCCBP of 805.31 shares of CCBCC’s Series A Preferred Stock, PCCBP hereby conveys to CCBCC the Assumed Liabilities and a cash
payment, and CCBCC assumes all of the Assumed Liabilities. To the extent necessary, CCBCC agrees to execute any and all assignments or other documents which may be necessary to effect such assumption or which may be requested by any creditor of
PCCBP to document such assumption.
 2.        PCCBP hereby warrants itself to
be obligated to pay the Assumed Liabilities.
 3.        CCBCC hereby represents
and warrants that it possesses full authority to assume the Assumed Liabilities and to issue all shares of its Series A Preferred stock to be issued pursuant to this Agreement and that all such shares when issued shall be deemed fully
paid and non-assessable.
 
 

  IN WITNESS WHEREOF, PCCBP and CCBCC have caused this Agreement to be executed and delivered on the day and
date first above written.
   

	 CCBCC, INC.
 	  
 	  
 	  
 
	 By: 
 	 
 /s/ DAVID V. SINGER
 	  
 	  
 	  
 
	  
 	 
 	  
 	  
 	  
 
	 Title: 
 	 VICE PRESIDENT
 	  
 	  
 	  
 

   

	 PIEDMONT COCA-COLA BOTTLING PARTNERSHIP
 	  
 	  
 	  
 
	 
 By Coca-Cola Bottling Co. Consolidated
                    Managing Agent
 	  
 	  
 	  
 
	  
 	  
 	  
 	  
 	  
 
	 By: 
 	 
 /s/ WILLIAM B. ELMORE
 	  
 	  
 	  
 
	  
 	 
 	  
 	  
 	  
 
	 Title: 
 	 VICE PRESIDENT
 	  
 	  
 	  
 

  
 
 

  EXHIBIT 1
 Piedmont Coca-Cola
Bottling Partnership
Assumed Liabilities
 Certain retiree healthcare benefit liabilities with a present value of $8,096,469; as actuarially
determined by AON Consulting, Inc. (formerly Godwins Booke & Dickenson), and more fully described in a document previously delivered to CCBCC, Inc. on November 30, 1994.FIRST AMENDMENT TO LEASE

  Exhibit 10.33
  

	  
 	 Mail After Recording To:
 
	  
 	 Prepared
By:                    
 
	  
 	 KENNEDY COVINGTON LOBDELL & HICKMAN. LLP
(PLR)
 100 North Tryon Street Suite 4200
 Charlotte. North Carolina 28202-4006
 

 FIRST
AMENDMENT TO LEASE
and
FIRST AMENDMENT TO MEMORANDUM OF LEASE
 THIS FIRST AMENDMENT TO LEASE
AND FIRST AMENDMENT TO MEMORANDUM OF LEASE (this “First Amendment”) is made and entered as of the 30 day of August _____, 2002, between RAGLAND CORPORATION, a Tennessee
corporation (hereinafter referred to as the “Landlord”), having a mailing address of 4544 Harding Road, Suite 214, Nashville, Tennessee 37205, and COCA-COLA BOTTLING CO. CONSOLIDATED, a
Delaware corporation (hereinafter referred to as the “Tenant”), having a mailing address of 4100 Coca-Cola Plaza. Charlotte, North Carolina 28211.
 WITNESSETH:
 WHEREAS, Landlord and Tenant
entered into that certain Lease dated as of January 1, 1999 (the “Lease”), for the lease of certain improved real property located in Nashville,
Davidson County, Tennessee (the “Premises”), said Premises being more particularly described on Exhibit A attached hereto; said Lease being memorialized in that
certain Memorandum of Lease recorded in Book 11398 at Page 847 in the public land records of Davidson County, Tennessee (the
“Memorandum of Lease”);
 WHEREAS, Landlord and Tenant desire to amend the Lease in certain respects to
reflect the current understandings and agreements of Landlord and Tenant, including, without limitation, the inclusion of one (1) additional five (5) year renewal option on the part of Tenant;
and
 WHEREAS, the defined terms used in this First Amendment, as indicated by the initial capitalization thereof, shall have the
same meaning ascribed to such terms in the Lease, unless otherwise specifically defined herein;
 NOW,
THEREFORE, for and in consideration of the premises and other good and valuable considerations, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree to amend the Lease as follows:

1.      Renewal Option.
As provided in Section 2 of the Lease, Tenant currently has the option to renew the Original Term of the Lease for two (2) consecutive five (5) year Renewal Terms on the terms and conditions stated in said Section 2. Landlord and Tenant have agreed
that, from and after the effective date of this First Amendment, Tenant shall have the option to renew the Original Term for three (3) consecutive five (5) year Renewal
  
 

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  Terms. In that regard, Section 2 of the Lease is hereby deleted in its entirety and replaced with the
following:
 “2. TERM AND RENEWALS. (A) The term of this Lease shall be ten (10) years commencing on January
1, 1999 and terminating on December 31, 2009, (the “Original Term”).
 (b) Tenant may renew this Lease
as to the entire Premises for three (3) additional, consecutive terms of five (5) years each (each a “Renewal Terms”; together, the “Renewal Terms”) by giving written notice to Landlord of its exercise of the renewal option at
any time prior to one (1) year before the end of the then-current term. Rents for the Renewal Term(s) shall be determined under Section 5 of this Lease. Other than the rents applicable during the Renewal Term(s), all other terms and provisions in
this Lease shall be fully applicable during any Renewal Term(s) exercised by Tenant.”
 Additionally, Paragraph 2 of the Memorandum of Lease is hereby deleted in its entirety
and replaced with the following:
 “2.      The Lease grants Tenant successive options to renew the Lease for up to three (3) additional terms of five (5) years each.”
 2.        Ratification. As amended by this First Amendment, the terms of the/ Lease and the Memorandum of Lease are hereby
ratified and affirmed in all respects; and the Lease and the Memorandum of Lease, as amended by this First Amendment, shall remain enforceable in accordance with its terms.
 [SIGNATURES AND ACKNOWLEDGEMENTS BEGIN ON FOLLOWING PAGE] 
  
 

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  IN WITNESS WHEREOF, Landlord and Tenant have executed this First Amendment in multiple original counterparts as of the day and year first
above written.
  

	  
 	  
 	  
 	 TENANT:
 
 
 
	  
 	  
 	  
 	 COCA-COLA BOTTLING CO. CONSOLIDATED
 
	  
 	  
 	 
 
 
 	  
 	 By: 
 	 
 /s/ CHARLES L. WEATHERS
 
	  
 	  
 	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	  
 	 Name: 
 	 Charles L. Weathers
 
	  
 	  
 	  
 	  
 	 Title: 
 	 Director of Facility Management
 

  

	 STATE OF Tennessee
 	  
 	 )
 	  
 
	  
 	  
 	 )
 	  
 
	 COUNTY OF Davidson
 	  
 	 )
 	  
 

 
 Before me, Yolanda Flippen-Flakes, a Notary Public of the State and County aforesaid, personally appeared Charles L. Weathers, with whom I am personally acquainted, and who, upon oath, acknowledged himself to be Director of Facility Management of Coca-Cola Bottling Co. Consolidated, the within named Tenant, a
corporation and that he, as such Director, being authorized so to do, executed the foregoing instrument for the purpose therein contained, by signing the name of the corporation by himself as Director
of Facility Management.
 Witness my hand and seal, at office in Nashville, TN this 29 day of August,
2002.
  

	  
 	  
 	  
 	  
 
	 
 
 
 	  
 	  
 	 
 /s/ YOLANDA FLIPPEN-FLAKES
 
	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	 NOTARY PUBLIC
 
	  
 	  
 	  
 	 Commission Expires: July 24, 2004
 

 [SIGNATURES AND ACKNOWLEDGEMENTS CONTINUE ON NEXT PAGE]
  
 

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 	 LANDLORD:
 
 
 
	  
 	  
 	  
 	 RAGLAND CORPORATION
 
	  
 	  
 	 
 
 
 	  
 	 By: 
 	 
 /s/ ELIZABETH R. CHALFANT
 
	  
 	  
 	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	  
 	 Name: 
 	 Elizabeth R. Chalfant
 
	  
 	  
 	  
 	  
 	 Title: 
 	 CEO
 

  

	 STATE OF TN
 	  
 	 )
 	  
 
	  
 	  
 	 )
 	  
 
	 COUNTY OF Davidson
 	  
 	 )
 	  
 

 
 Before me, Sally A. Clayton, a Notary Public of the State and County aforesaid, personally appeared ELIZABETH R. CHALFANT with whom I am personally acquainted, and who, upon oath, acknowledged herself to be CEO of
Ragland Corporation, the within named Landlord, a corporation, and that she, as such CEO, being authorized so to do, executed the foregoing instrument for the purpose therein contained, by signing the name or the corporation by herself as
CEO.
 Witness my hand and seal, at office in Nashville, TN this 30th day of August, 2002.
  

	  
 	  
 	  
 	  
 
	 
 
 
 	  
 	  
 	 
 /s/ SALLY A. CLAYTON
 
	  
 	  
 	  
 	 
 
	  
 	  
 	  
 	 NOTARY PUBLIC
 
	  
 	  
 	  
 	 Commission Expires: July 30, 2005
 

  
  
 

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