Document:

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                                                                    EXHIBIT 10.1

                               PURCHASE AGREEMENT

                                     BETWEEN

                                AFS SENSUB CORP.
                                    PURCHASER

                                       AND

                      AMERICREDIT FINANCIAL SERVICES, INC.
                                     SELLER

                          DATED AS OF NOVEMBER 2, 2000
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                                TABLE OF CONTENTS

                                                                           PAGE

ARTICLE I. DEFINITIONS......................................................1

   SECTION 1.1General.......................................................1
   SECTION 1.2Specific Terms................................................1
   SECTION 1.3Usage of Terms................................................2
   SECTION 1.4[Reserved]....................................................2
   SECTION 1.5No Recourse...................................................2
   SECTION 1.6Action by or Consent of Noteholders and
                  Certificateholder.........................................2
   SECTION 1.7[Reserved]....................................................3

ARTICLE II. CONVEYANCE OF THE RECEIVABLES  AND THE OTHER CONVEYED PROPERTY..3

   SECTION 2.1Conveyance of the Receivables and the Other
                  Conveyed Property.........................................3
   SECTION 2.2[Reserved]....................................................3

ARTICLE III. REPRESENTATIONS AND WARRANTIES.................................3

   SECTION 3.1Representations and Warranties of Seller......................3
   SECTION 3.2[Reserved]....................................................5
   SECTION 3.3Representations and Warranties of Purchaser...................5

ARTICLE IV. COVENANTS OF SELLER.............................................7

   SECTION 4.1Protection of Title of Purchaser..............................7
   SECTION 4.2Other Liens or Interests......................................8
   SECTION 4.3Costs and Expenses............................................8
   SECTION 4.4Indemnification...............................................8

ARTICLE V. REPURCHASES.....................................................11

   SECTION 5.1Repurchase of Receivables Upon Breach of Warranty............11
   SECTION 5.2Reassignment of Purchased Receivables........................11
   SECTION 5.3Waivers......................................................12

ARTICLE VI. MISCELLANEOUS..................................................12

   SECTION 6.1Liability of Seller..........................................12
   SECTION 6.2Merger or Consolidation of Seller or Purchaser...............12
   SECTION 6.3Limitation on Liability of Seller and Others.................12
   SECTION 6.4Seller May Own Notes or the Certificate......................13
   SECTION 6.5Amendment....................................................13
   SECTION 6.6Notices......................................................14
   SECTION 6.7Merger and Integration.......................................14
   SECTION 6.8Severability of Provisions...................................14
   SECTION 6.9Intention of the Parties.....................................14
   SECTION 6.10Governing Law...............................................14
   SECTION 6.11Counterparts................................................14
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   SECTION 6.12Conveyance of the Receivables and the Other
                  Conveyed Property to the Issuer..........................15
   SECTION 6.13Nonpetition Covenant........................................15

SCHEDULES

Schedule A -- Schedule of Receivables
Schedule B -- Representations and Warranties from Seller as to the
Receivables
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                               PURCHASE AGREEMENT

            THIS PURCHASE AGREEMENT, dated as of November 2, 2000, executed
between AFS SenSub Corp., a Nevada corporation, as purchaser ("PURCHASER"), and
AmeriCredit Financial Services, Inc., a Delaware corporation, as seller
("SELLER").

                           W I T N E S S E T H :

            WHEREAS, Purchaser has agreed to purchase from Seller, and Seller,
pursuant to this Agreement, is transferring to Purchaser the Receivables and
Other Conveyed Property.

            NOW, THEREFORE, in consideration of the premises and the mutual
agreements hereinafter contained, and for other good and valuable consideration,
the receipt of which is acknowledged, Purchaser and Seller, intending to be
legally bound, hereby agree as follows:

ARTICLE I.

                                   DEFINITIONS

SECTION 1.1 GENERAL. The specific terms defined in this Article include the
plural as well as the singular. The words "herein", "hereof" and "hereunder" and
other words of similar import refer to this Agreement as a whole and not to any
particular Article, Section or other subdivision, and Article, Section, Schedule
and Exhibit references, unless otherwise specified, refer to Articles and
Sections of and Schedules and Exhibits to this Agreement. Capitalized terms used
herein without definition shall have the respective meanings assigned to such
terms in the Sale and Servicing Agreement dated as of November 2, 2000, by and
among AFS SenSub Corp. (as Seller), AmeriCredit Financial Services, Inc. (in its
individual capacity and as Servicer), AmeriCredit Automobile Receivables Trust
2000-1 (as Issuer) and The Chase Manhattan Bank, as Backup Servicer and Trust
Collateral Agent.

            SECTION 1.2 SPECIFIC TERMS

Whenever used in this Agreement, the following words and phrases, unless the
context otherwise requires, shall have the following meanings:

            "AGREEMENT" shall mean this Purchase Agreement and all amendments
hereof and supplements hereto.

            "CLOSING DATE" means November 16, 2000.

            "ISSUER" means AmeriCredit Automobile Receivables Trust 2000-1.

            "OTHER CONVEYED PROPERTY" means all property conveyed by the
Purchaser to the Trust pursuant to Sections 2.1(b),(c),(d),(e),(f) and (h) of
the Sale and Servicing Agreement.
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            "OWNER TRUSTEE" means Bankers Trust (Delaware), as Owner
Trustee appointed and acting pursuant to the Trust Agreement.

            "RECEIVABLES" means the Receivables listed on the Schedules of
Receivables attached hereto.

            "RELATED DOCUMENTS" means the Notes, the Certificate, the Custodian
Agreement, the Sale and Servicing Agreement, the Indenture, the Trust Agreement,
the Lockbox Agreement and the Underwriting Agreement. The Related Documents to
be executed by any party are referred to herein as "such party's Related
Documents," "its Related Documents" or by a similar expression.

            "REPURCHASE EVENT" means the occurrence of a breach of any of
Seller's representations and warranties hereunder or any other event which
requires the repurchase of a Receivable by Seller under the Sale and Servicing
Agreement.

            "SALE AND SERVICING AGREEMENT" means the Sale and Servicing
Agreement referred to in Section 1.1 hereof.

            "SCHEDULE OF REPRESENTATIONS" means the Schedule of Representations
and Warranties attached hereto as Schedule B.

            "SCHEDULES OF RECEIVABLES" means the schedule of Receivables sold
and transferred pursuant to this Agreement which is attached hereto as Schedule
A.

            "TRUST COLLATERAL AGENT" means The Chase Manhattan Bank, as trust
collateral agent and any successor trust collateral agent appointed and acting
pursuant to the Sale and Servicing Agreement.

            "TRUSTEE" means The Chase Manhattan Bank, as trustee and any
successor Trustee appointed and acting pursuant to the Indenture.

            SECTION 1.3 USAGE OF TERMS

With respect to all terms used in this Agreement, the singular includes the
plural and the plural the singular; words importing any gender include the other
gender; references to "writing" include printing, typing, lithography, and other
means of reproducing words in a visible form; references to agreements and other
contractual instruments include all subsequent amendments thereto or changes
therein entered into in accordance with their respective terms and not
prohibited by this Agreement or the Sale and Servicing Agreement; references to
Persons include their permitted successors and assigns; and the terms "include"
or "including" mean "include without limitation" or "including without
limitation."

            SECTION 1.4 [RESERVED].
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            SECTION 1.5 NO RECOURSE

Without limiting the obligations of Seller hereunder, no recourse may be taken,
directly or indirectly, under this Agreement or any certificate or other writing
delivered in connection herewith or therewith, against any stockholder, officer
or director, as such, of Seller, or of any predecessor or successor of Seller.

            SECTION 1.6 ACTION BY OR CONSENT OF NOTEHOLDERS AND
CERTIFICATEHOLDER

Whenever any provision of this Agreement refers to action to be taken, or
consented to, by Noteholders or the Certificateholder, such provision shall be
deemed to refer to the Certificateholder or Noteholder, as the case may be, of
record as of the Record Date immediately preceding the date on which such action
is to be taken, or consent given, by Noteholders or the Certificateholder.
Solely for the purposes of any action to be taken, or consented to, by
Noteholders or the Certificateholder, any Note or Certificate registered in the
name of the Seller or any Affiliate thereof shall be deemed not to be
outstanding; provided, however, that, solely for the purpose of determining
whether the Trustee or the Trust Collateral Agent is entitled to rely upon any
such action or consent, only Notes or Certificates which the Owner Trustee, the
Trustee or the Trust Collateral Agent, respectively, knows to be so owned shall
be so disregarded.

            SECTION 1.7 [RESERVED].

                                  ARTICLE II.

                          CONVEYANCE OF THE RECEIVABLES
                         AND THE OTHER CONVEYED PROPERTY

            SECTION 2.1 CONVEYANCE OF THE RECEIVABLES AND THE OTHER CONVEYED
PROPERTY

                  (a) Subject to the terms and conditions of this Agreement,
            Seller hereby sells, transfers, assigns, and otherwise conveys to
            Purchaser without recourse (but without limitation of its
            obligations in this Agreement), and Purchaser hereby purchases, all
            right, title and interest of Seller in and to the Receivables and
            the Other Conveyed Property. It is the intention of Seller and
            Purchaser that the transfer and assignment contemplated by this
            Agreement shall constitute a sale of the Receivables and the Other
            Conveyed Property from Seller to Purchaser, conveying good title
            thereto free and clear of any liens, and the beneficial interest in
            and title to the Receivables and the Other Conveyed Property shall
            not be part of Seller's estate in the event of the filing of a
            bankruptcy petition by or against Seller under any bankruptcy or
            similar law.

                  (b) Simultaneously with the conveyance of the Receivables and
            the Other Conveyed Property to Purchaser, Purchaser has paid or
            caused to be paid to or upon the order of
<PAGE>

            Seller, an amount equal to the book value of the Receivables, as set
            forth on the books and records of Seller, a portion by wire transfer
            of immediately available funds and the remainder as a contribution
            to the capital of the Purchaser (a wholly-owned subsidiary of
            Seller).

            SECTION 2.2 [RESERVED].

                                   ARTICLE III

                         REPRESENTATIONS AND WARRANTIES

            SECTION 3.1 REPRESENTATIONS AND WARRANTIES OF SELLER

Seller makes the following representations and warranties as of the date hereof,
on which Purchaser relies in purchasing the Receivables and the Other Conveyed
Property and in transferring the Receivables and the Other Conveyed Property to
the Issuer under the Sale and Servicing Agreement. Such representations are made
as of the execution and delivery of this Agreement, but shall survive the sale,
transfer and assignment of the Receivables and the Other Conveyed Property
hereunder, and the sale, transfer and assignment thereof by Purchaser to the
Issuer under the Sale and Servicing Agreement. Seller and Purchaser agree that
Purchaser will assign to Issuer all Purchaser's rights under this Agreement and
that the Trustee will thereafter be entitled to enforce this Agreement against
Seller in the Trustee's own name on behalf of the Noteholders.

                  (a) SCHEDULE OF REPRESENTATIONS. The representations and
            warranties set forth on the Schedule of Representations with respect
            to the Receivables as of the date hereof are true and correct.

                  (b) ORGANIZATION AND GOOD STANDING. Seller has been duly
            organized and is validly existing as a corporation in good standing
            under the laws of the State of Delaware, with power and authority to
            own its properties and to conduct its business as such properties
            are currently owned and such business is currently conducted, and
            had at all relevant times, and now has, power, authority and legal
            right to acquire, own and sell the Receivables and the Other
            Conveyed Property to be transferred to Purchaser.

                  (c) DUE QUALIFICATION. Seller is duly qualified to do business
            as a foreign corporation in good standing, and has obtained all
            necessary licenses and approvals in all jurisdictions in which the
            ownership or lease of its property or the conduct of its business
            requires such qualification.

                  (d) POWER AND AUTHORITY. Seller has the power and authority to
            execute and deliver this Agreement and its Related Documents and to
            carry out its terms and their terms, respectively; Seller has full
            power and authority to sell and assign the Receivables and the Other
            Conveyed Property to be sold and assigned to and deposited with
            Purchaser
<PAGE>

            hereunder and has duly authorized such sale and assignment to
            Purchaser by all necessary corporate action; and the execution,
            delivery and performance of this Agreement and Seller's Related
            Documents have been duly authorized by Seller by all necessary
            corporate action.

                  (e) VALID SALE; BINDING OBLIGATIONS. This Agreement and
            Seller's Related Documents have been duly executed and delivered,
            shall effect a valid sale, transfer and assignment of the
            Receivables and the Other Conveyed Property to the Purchaser,
            enforceable against Seller and creditors of and purchasers from
            Seller; and this Agreement and Seller's Related Documents constitute
            legal, valid and binding obligations of Seller enforceable in
            accordance with their respective terms, except as enforceability may
            be limited by bankruptcy, insolvency, reorganization or other
            similar laws affecting the enforcement of creditors' rights
            generally and by equitable limitations on the availability of
            specific remedies, regardless of whether such enforceability is
            considered in a proceeding in equity or at law.

                  (f) NO VIOLATION. The consummation of the transactions
            contemplated by this Agreement and the Related Documents, and the
            fulfillment of the terms of this Agreement and the Related
            Documents, shall not conflict with, result in any breach of any of
            the terms and provisions of, or constitute (with or without notice,
            lapse of time or both) a default under, the articles of
            incorporation or bylaws of Seller, or any indenture, agreement,
            mortgage, deed of trust or other instrument to which Seller is a
            party or by which it is bound, or result in the creation or
            imposition of any Lien upon any of its properties pursuant to the
            terms of any such indenture, agreement, mortgage, deed of trust or
            other instrument, other than this Agreement, the Sale and Servicing
            Agreement and the Indenture, or violate any law, order, rule or
            regulation applicable to Seller of any court or of any federal or
            state regulatory body, administrative agency or other governmental
            instrumentality having jurisdiction over Seller or any of its
            properties.

                  (g) NO PROCEEDINGS. There are no proceedings or investigations
            pending or, to Seller's knowledge, threatened against Seller, before
            any court, regulatory body, administrative agency or other tribunal
            or governmental instrumentality having jurisdiction over Seller or
            its properties (i) asserting the invalidity of this Agreement or any
            of the Related Documents, (ii) seeking to prevent the issuance of
            the Notes or the consummation of any of the transactions
            contemplated by this Agreement or any of the Related Documents,
            (iii) seeking any determination or ruling that might materially and
            adversely affect the performance by Seller of its obligations under,
            or the validity or enforceability of, this Agreement or any of the
            Related Documents or (iv) seeking to affect adversely the federal
            income tax or other federal, state or local tax attributes of, or
            seeking to impose any excise, franchise, transfer or similar tax
            upon, the transfer and acquisition of the Receivables and the Other
            Conveyed Property hereunder or under the Sale and Servicing
            Agreement.

                  (h) TRUE SALE. The Receivables are being transferred with the
            intention of removing them from Seller's estate pursuant to Section
            541 of the Bankruptcy Code, as the same
<PAGE>

            may be amended from time to time.

                  (i) CHIEF EXECUTIVE OFFICE. The chief executive office of
            Seller is located at 801 Cherry Street, Suite 3900, Fort Worth,
            Texas 76102.

            SECTION 3.2 [RESERVED].

            SECTION 3.3 REPRESENTATIONS AND WARRANTIES OF PURCHASER

            Purchaser makes the following representations and warranties, on
            which Seller relies in selling, assigning, transferring and
            conveying the Receivables and the Other Conveyed Property to
            Purchaser hereunder. Such representations are made as of the
            execution and delivery of this Agreement, but shall survive the
            sale, transfer and assignment of the Receivables and the Other
            Conveyed Property hereunder and the sale, transfer and assignment
            thereof by Purchaser to the Issuer under the Sale and Servicing
            Agreement.

                  (a) ORGANIZATION AND GOOD STANDING. Purchaser has been duly
            organized and is validly existing and in good standing as a
            corporation under the laws of the State of Nevada, with the power
            and authority to own its properties and to conduct its business as
            such properties are currently owned and such business is currently
            conducted, and had at all relevant times, and has, full power,
            authority and legal right to acquire and own the Receivables and the
            Other Conveyed Property, and to transfer the Receivables and the
            Other Conveyed Property to the Issuer pursuant to the Sale and
            Servicing Agreement.

                  (b) DUE QUALIFICATION. Purchaser is duly qualified to do
            business as a foreign corporation in good standing, and has obtained
            all necessary licenses and approvals in all jurisdictions where the
            failure to do so would materially and adversely affect Purchaser's
            ability to acquire the Receivables or the Other Conveyed Property,
            and to transfer the Receivables and the Other Conveyed Property to
            the Issuer pursuant to the Sale and Servicing Agreement, or the
            validity or enforceability of the Receivables and the Other Conveyed
            Property or to perform Purchaser's obligations hereunder and under
            the Purchaser's Related Documents.

                  (c) POWER AND AUTHORITY. Purchaser has the power, authority
            and legal right to execute and deliver this Agreement and to carry
            out the terms hereof and to acquire the Receivables and the Other
            Conveyed Property hereunder; and the execution, delivery and
            performance of this Agreement and all of the documents required
            pursuant hereto have been duly authorized by Purchaser by all
            necessary action.

                  (d) NO CONSENT REQUIRED. Purchaser is not required to obtain
            the consent of any other Person, or any consent, license, approval
            or authorization or registration or declaration with, any
            governmental authority, bureau or agency in connection with the
            execution, delivery or performance of this Agreement and the Related
            Documents, except for such as have been obtained, effected or made.
<PAGE>

                  (e) BINDING OBLIGATION. This Agreement constitutes a legal,
            valid and binding obligation of Purchaser, enforceable against
            Purchaser in accordance with its terms, subject, as to
            enforceability, to applicable bankruptcy, insolvency,
            reorganization, conservatorship, receivership, liquidation and other
            similar laws and to general equitable principles.

                  (f) NO VIOLATION. The execution, delivery and performance by
            Purchaser of this Agreement, the consummation of the transactions
            contemplated by this Agreement and the Related Documents and the
            fulfillment of the terms of this Agreement and the Related Documents
            do not and will not conflict with, result in any breach of any of
            the terms and provisions of, or constitute (with or without notice
            or lapse of time) a default under, the certificate of incorporation
            or bylaws of Purchaser, or conflict with or breach any of the terms
            or provisions of, or constitute (with or without notice or lapse of
            time) a default under, any indenture, agreement, mortgage, deed of
            trust or other instrument to which Purchaser is a party or by which
            Purchaser is bound or to which any of its properties are subject, or
            result in the creation or imposition of any Lien upon any of its
            properties pursuant to the terms of any such indenture, agreement,
            mortgage, deed of trust or other instrument (other than the Sale and
            Servicing Agreement), or violate any law, order, rule or regulation,
            applicable to Purchaser or its properties, of any federal or state
            regulatory body, any court, administrative agency, or other
            governmental instrumentality having jurisdiction over Purchaser or
            any of its properties.

                  (g) NO PROCEEDINGS. There are no proceedings or investigations
            pending, or, to the knowledge of Purchaser, threatened against
            Purchaser, before any court, regulatory body, administrative agency,
            or other tribunal or governmental instrumentality having
            jurisdiction over Purchaser or its properties: (i) asserting the
            invalidity of this Agreement or any of the Related Documents, (ii)
            seeking to prevent the consummation of any of the transactions
            contemplated by this Agreement or any of the Related Documents,
            (iii) seeking any determination or ruling that might materially and
            adversely affect the performance by Purchaser of its obligations
            under, or the validity or enforceability of, this Agreement or any
            of the Related Documents or (iv) that may adversely affect the
            federal or state income tax attributes of, or seeking to impose any
            excise, franchise, transfer or similar tax upon, the transfer and
            acquisition of the Receivables and the Other Conveyed Property
            hereunder or the transfer of the Receivables and the Other Conveyed
            Property to the Issuer pursuant to the Sale and Servicing Agreement.

            In the event of any breach of a representation and warranty made by
Purchaser hereunder, Seller covenants and agrees that it will not take any
action to pursue any remedy that it may have hereunder, in law, in equity or
otherwise, until a year and a day have passed since the date on which all Notes,
Certificates, pass-through certificates or other similar securities issued by
Purchaser, or a trust or similar vehicle formed by Purchaser, have been paid in
full. Seller and Purchaser agree that damages will not be an adequate remedy for
such breach and that this covenant may be specifically enforced by Purchaser,
Issuer or by the Trustee on behalf of the Noteholders and Owner Trustee on
behalf of the Certificateholder.
<PAGE>

                                  ARTICLE IV.

                               COVENANTS OF SELLER

            SECTION 4.1 PROTECTION OF TITLE OF PURCHASER.

                  (a) At or prior to the Closing Date, Seller shall have filed
            or caused to be filed a UCC-1 financing statement, executed by
            Seller as seller or debtor, naming Purchaser as purchaser or secured
            party and describing the Receivables and the Other Conveyed Property
            being sold by it to Purchaser as collateral, with the office of the
            Secretary of State of the State of Texas and in such other locations
            as Purchaser shall have required. From time to time thereafter,
            Seller shall execute and file such financing statements and cause to
            be executed and filed such continuation statements, all in such
            manner and in such places as may be required by law fully to
            preserve, maintain and protect the interest of Purchaser under this
            Agreement, of the Issuer under the Sale and Servicing Agreement and
            of the Trust Collateral Agent under the Indenture in the Receivables
            and the Other Conveyed Property and in the proceeds thereof. Seller
            shall deliver (or cause to be delivered) to Purchaser and the Trust
            Collateral Agent file-stamped copies of, or filing receipts for, any
            document filed as provided above, as soon as available following
            such filing. In the event that Seller fails to perform its
            obligations under this subsection, Purchaser, Issuer or the Trust
            Collateral Agent may do so, at the expense of Seller.

                  (b) Seller shall not change its name, identity, or corporate
            structure in any manner that would, could or might make any
            financing statement or continuation statement filed by Seller (or by
            Purchaser, Issuer or the Trust Collateral Agent on behalf of Seller)
            in accordance with paragraph (a) above seriously misleading within
            the meaning ofss.9-402(7) of the UCC, unless they shall have given
            Purchaser, Issuer and the Trust Collateral Agent at least 60 days'
            prior written notice thereof, and shall promptly file appropriate
            amendments to all previously filed financing statements and
            continuation statements.

                  (c) Seller shall give Purchaser, the Issuer and the Trust
            Collateral Agent at least 60 days' prior written notice of any
            relocation of their principal executive offices, if as a result of
            such relocation, the applicable provisions of the UCC would require
            the filing of any amendment of any previously filed financing or
            continuation statement or of any new financing statement. Seller
            shall at all times maintain each office from which it services
            Receivables and its principal executive office within the United
            States of America.

                  (d) Prior to the Closing Date, Seller has maintained accounts
            and records as to each Receivable accurately and in sufficient
            detail to permit (i) the reader thereof to know at any time as of or
            prior to the Closing Date the status of such Receivable, including
            payments and recoveries made and payments owing (and the nature of
            each) and (ii) reconciliation between payments or recoveries on (or
            with respect to) each Receivable and the Principal Balance as of the
            Closing Date. Seller shall maintain its computer systems so that,
            from and after the time of sale under this Agreement of the
            Receivables to Purchaser, and the conveyance of the Receivables by
            Purchaser to the Issuer, Seller's
<PAGE>

            master computer records (including archives) that shall refer to a
            Receivable indicate clearly that such Receivable has been sold to
            Purchaser and has been conveyed by Purchaser to the Issuer.
            Indication of the Issuer's ownership of a Receivable shall be
            deleted from or modified on Seller's computer systems when, and only
            when, the Receivable shall become a Purchased Receivable or shall
            have been paid in full.

                  (e) If at any time Seller shall propose to sell, grant a
            security interest in, or otherwise transfer any interest in any
            motor vehicle receivables to any prospective purchaser, lender or
            other transferee, Seller shall give to such prospective purchaser,
            lender, or other transferee computer tapes, records, or print-outs
            (including any restored from archives) that, if they shall refer in
            any manner whatsoever to any Receivable (other than a Purchased
            Receivable), shall indicate clearly that such Receivable has been
            sold to Purchaser, sold by Purchaser to Issuer, and is owned by the
            Issuer.

            SECTION 4.2 OTHER LIENS OR INTERESTS

Except for the conveyances hereunder, Seller will not sell, pledge, assign or
transfer to any other Person, or grant, create, incur, assume or suffer to exist
any Lien on the Receivables or the Other Conveyed Property or any interest
therein, and Seller shall defend the right, title, and interest of Purchaser and
the Issuer in and to the Receivables and the Other Conveyed Property against all
claims of third parties claiming through or under Seller.

            SECTION 4.3 COSTS AND EXPENSES

Seller shall pay all reasonable costs and disbursements in connection with the
performance of its obligations hereunder and under its Related Documents.

            SECTION 4.4 INDEMNIFICATION.

                  (a) Seller shall defend, indemnify and hold harmless
            Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the
            Backup Servicer, the Owner Trustee, the Noteholders and the
            Certificateholder from and against any and all costs, expenses,
            losses, damages, claims, and liabilities, arising out of or
            resulting from any breach of any of Seller's representations and
            warranties contained herein.

                  (b) Seller shall defend, indemnify and hold harmless
            Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the
            Backup Servicer, the Owner Trustee, the Noteholders and the
            Certificateholder from and against any and all costs, expenses,
            losses, damages, claims, and liabilities, arising out of or
            resulting from the use, ownership or operation by Seller or any
            affiliate thereof of a Financed Vehicle.

                  (c) Seller shall defend, indemnify and hold harmless
            Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the
            Backup Servicer, the Owner Trustee, the Noteholders and the
            Certificateholder from and against any and all costs, expenses,
            losses, damages, claims and liabilities arising out of or resulting
            from any action taken, or failed to be taken, by it in respect of
            any portion of the Receivables other than in accordance with this
<PAGE>

            Agreement or the Sale and Servicing Agreement.

                  (d) Seller agrees to pay, and shall defend, indemnify and hold
            harmless Purchaser, the Issuer, the Trust Collateral Agent, the
            Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and
            the Certificateholder from and against any taxes that may at any
            time be asserted against Purchaser, the Issuer, the Trust Collateral
            Agent, the Trustee, the Backup Servicer, the Owner Trustee, the
            Noteholders and the Certificateholder with respect to the
            transactions contemplated in this Agreement, including, without
            limitation, any sales, gross receipts, general corporation, tangible
            or intangible personal property, privilege, or license taxes (but
            not including any taxes asserted with respect to, and as of the date
            of, the sale, transfer and assignment of the Receivables and the
            Other Conveyed Property to Purchaser and by Purchaser to the Issuer
            or the issuance and original sale of the Notes or issuance of the
            Certificate, or asserted with respect to ownership of the
            Receivables and Other Conveyed Property which shall be indemnified
            by Seller pursuant to clause (e) below, or federal, state or other
            income taxes, arising out of distributions on the Notes or the
            Certificate or transfer taxes arising in connection with the
            transfer of the Notes or the Certificate) and costs and expenses in
            defending against the same, arising by reason of the acts to be
            performed by Seller under this Agreement or imposed against such
            Persons.

                  (e) Seller agrees to pay, and to indemnify, defend and hold
            harmless Purchaser, the Issuer, the Trust Collateral Agent, the
            Trustee, the Backup Servicer, the Owner Trustee, the Noteholders and
            the Certificateholder from, any taxes which may at any time be
            asserted against such Persons with respect to, and as of the date
            of, the conveyance or ownership of the Receivables or the Other
            Conveyed Property hereunder and the conveyance or ownership of the
            Receivables under the Sale and Servicing Agreement or the issuance
            and original sale of the Notes or the issuance of the Certificate,
            including, without limitation, any sales, gross receipts, personal
            property, tangible or intangible personal property, privilege or
            license taxes (but not including any federal or other income taxes,
            including franchise taxes, arising out of the transactions
            contemplated hereby or transfer taxes arising in connection with the
            transfer of the Notes or the Certificate) and costs and expenses in
            defending against the same, arising by reason of the acts to be
            performed by Seller under this Agreement or imposed against such
            Persons.

                  (f) Seller shall defend, indemnify, and hold harmless
            Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the
            Backup Servicer, the Owner Trustee, the Noteholders and the
            Certificateholder from and against any and all costs, expenses,
            losses, claims, damages, and liabilities to the extent that such
            cost, expense, loss, claim, damage, or liability arose out of, or
            was imposed upon Purchaser, the Issuer, the Trust Collateral Agent,
            the Trustee, the Backup Servicer, the Owner Trustee, the Noteholders
            or the Certificateholder through the negligence, willful
            misfeasance, or bad faith of Seller in the performance of its duties
            under this Agreement or by reason of reckless disregard of Seller's
            obligations and duties under this Agreement.

                  (g) Seller shall indemnify, defend and hold harmless
            Purchaser, the Issuer, the Trust
<PAGE>

            Collateral Agent, the Trustee, the Backup Servicer, the Owner
            Trustee, the Noteholders and the Certificateholder from and against
            any loss, liability or expense incurred by reason of the violation
            by Seller of federal or state securities laws in connection with the
            registration or the sale of the Notes.

                  (h) Seller shall indemnify, defend and hold harmless
            Purchaser, the Issuer, the Trust Collateral Agent, the Trustee, the
            Backup Servicer, the Owner Trustee, the Noteholders and the
            Certificateholder from and against any loss, liability or expense
            imposed upon, or incurred by, Purchaser, the Issuer, the Trust
            Collateral Agent, the Trustee, the Backup Servicer, the Owner
            Trustee, the Noteholders or the Certificateholder as result of the
            failure of any Receivable, or the sale of the related Financed
            Vehicle, to comply with all requirements of applicable law.

                  (i) Seller shall defend, indemnify, and hold harmless
            Purchaser from and against all costs, expenses, losses, claims,
            damages, and liabilities arising out of or incurred in connection
            with the acceptance or performance of Seller's trusts and duties as
            Servicer under the Sale and Servicing Agreement, except to the
            extent that such cost, expense, loss, claim, damage, or liability
            shall be due to the willful misfeasance, bad faith, or negligence
            (except for errors in judgment) of Purchaser.

                  (j) Seller shall indemnify the Owner Trustee and its officers,
            directors, successors, assigns, agents and servants jointly and
            severally with the Purchaser pursuant to Section 7.2 of the Trust
            Agreement.

            Indemnification under this Section 4.4 shall include reasonable fees
and expenses of counsel and expenses of litigation and shall survive payment of
the Notes and the Certificate. The indemnity obligations hereunder shall be in
addition to any obligation that Seller may otherwise have.

                                   ARTICLE V.

                                   REPURCHASES

            SECTION 5.1 REPURCHASE OF RECEIVABLES UPON BREACH OF WARRANTY

Upon the occurrence of a Repurchase Event, Seller shall, unless the breach which
is the subject of such Repurchase Event shall have been cured in all material
respects, repurchase the Receivable relating thereto from the Issuer and,
simultaneously with the repurchase of the Receivable, Seller shall deposit the
Purchase Amount in full, without deduction or offset, to the Collection Account,
pursuant to Section 3.2 of the Sale and Servicing Agreement. It is understood
and agreed that, except as set forth in Section 6.1 hereof, the obligation of
Seller to repurchase any Receivable, as to which a breach occurred and is
continuing, shall, if such obligation is fulfilled, constitute the sole remedy
against Seller for such breach available to Purchaser, the Issuer, the Backup
Servicer, the Noteholders, the Certificateholder, the Trust Collateral Agent on
behalf of the Noteholders or the Owner Trustee on behalf of the
Certificateholder. The provisions of this Section 5.1 are intended to grant the
Issuer and the
<PAGE>

Trust Collateral Agent a direct right against Seller to demand performance
hereunder, and in connection therewith, Seller waives any requirement of prior
demand against Purchaser with respect to such repurchase obligation. Any such
repurchase shall take place in the manner specified in Section 3.2 of the Sale
and Servicing Agreement. Notwithstanding any other provision of this Agreement
or the Sale and Servicing Agreement to the contrary, the obligation of Seller
under this Section shall not terminate upon a termination of Seller as Servicer
under the Sale and Servicing Agreement and shall be performed in accordance with
the terms hereof notwithstanding the failure of the Servicer or Purchaser to
perform any of their respective obligations with respect to such Receivable
under the Sale and Servicing Agreement.

            In addition to the foregoing and notwithstanding whether the related
Receivable shall have been purchased by Seller, Seller shall indemnify the
Issuer, the Trust Collateral Agent, the Trustee, the Backup Servicer, the Owner
Trustee, the Noteholders and the Certificateholder from and against all costs,
expenses, losses, damages, claims and liabilities, including reasonable fees and
expenses of counsel, which may be asserted against or incurred by any of them as
a result of third party claims arising out of the events or facts giving rise to
such Repurchase Events.

            SECTION 5.2 REASSIGNMENT OF PURCHASED RECEIVABLES

Upon deposit in the Collection Account of the Purchase Amount of any Receivable
repurchased by Seller under Section 5.1 hereof, Purchaser and the Issuer shall
take such steps as may be reasonably requested by Seller in order to assign to
Seller all of Purchaser's and the Issuer's right, title and interest in and to
such Receivable and all security and documents and all Other Conveyed Property
conveyed to Purchaser and the Issuer directly relating thereto, without
recourse, representation or warranty, except as to the absence of Liens created
by or arising as a result of actions of Purchaser or the Issuer. Such assignment
shall be a sale and assignment outright, and not for security. If, following the
reassignment of a Purchased Receivable, in any enforcement suit or legal
proceeding, it is held that Seller may not enforce any such Receivable on the
ground that it shall not be a real party in interest or a holder entitled to
enforce the Receivable, Purchaser and the Issuer shall, at the expense of
Seller, take such steps as Seller deems reasonably necessary to enforce the
Receivable, including bringing suit in Purchaser's or in the Issuer's name.

            SECTION 5.3 WAIVERS

No failure or delay on the part of Purchaser, or the Issuer as assignee of
Purchaser, in exercising any power, right or remedy under this Agreement shall
operate as a waiver thereof, nor shall any single or partial exercise of any
such power, right or remedy preclude any other or future exercise thereof or the
exercise of any other power, right or remedy.

                                  ARTICLE VI.

                                  MISCELLANEOUS

            SECTION 6.1 LIABILITY OF SELLER
<PAGE>

Seller shall be liable in accordance herewith only to the extent of the
obligations in this Agreement specifically undertaken by Seller and the
representations and warranties of Seller.

            SECTION 6.2 MERGER OR CONSOLIDATION OF SELLER OR PURCHASER

Any corporation or other entity (i) into which Seller or Purchaser may be merged
or consolidated, (ii) resulting from any merger or consolidation to which Seller
or Purchaser is a party or (iii) succeeding to the business of Seller or
Purchaser, in the case of Purchaser, which corporation has a certificate of
incorporation containing provisions relating to limitations on business and
other matters substantively identical to those contained in Purchaser's
certificate of incorporation, provided that in any of the foregoing cases such
corporation shall execute an agreement of assumption to perform every obligation
of Seller or Purchaser, as the case may be, under this Agreement and, whether or
not such assumption agreement is executed, shall be the successor to Seller or
Purchaser, as the case may be, hereunder (without relieving Seller or Purchaser
of their responsibilities hereunder, if it survives such merger or
consolidation) without the execution or filing of any document or any further
action by any of the parties to this Agreement. Seller or Purchaser shall
promptly inform the other party, the Issuer, the Trust Collateral Agent and the
Owner Trustee of such merger, consolidation or purchase and assumption.
Notwithstanding the foregoing, as a condition to the consummation of the
transactions referred to in clauses (i), (ii) and (iii) above, (x) immediately
after giving effect to such transaction, no representation or warranty made
pursuant to Section 3.1 and 3.2 of this Agreement shall have been breached (for
purposes hereof, such representations and warranties shall speak as of the date
of the consummation of such transaction), (y) Seller or Purchaser, as
applicable, shall have delivered written notice of such consolidation, merger or
purchase and assumption to the Rating Agencies prior to the consummation of such
transaction and shall have delivered to the Issuer and the Trust Collateral
Agent an Officer's Certificate and an Opinion of Counsel each stating that such
consolidation, merger or succession and such agreement of assumption comply with
this Section 6.2 and that all conditions precedent, if any, provided for in this
Agreement relating to such transaction have been complied with, and (z) Seller
or Purchaser, as applicable, shall have delivered to the Issuer and the Trust
Collateral Agent an Opinion of Counsel, stating, in the opinion of such counsel,
either (A) all financing statements and continuation statements and amendments
thereto have been executed and filed that are necessary to preserve and protect
the interest of the Issuer and the Trust Collateral Agent in the Receivables and
reciting the details of the filings or (B) no such action shall be necessary to
preserve and protect such interest.

            SECTION 6.3 LIMITATION ON LIABILITY OF SELLER AND OTHERS

Seller and any director, officer, employee or agent thereof may rely in good
faith on the advice of counsel or on any document of any kind prima facie
properly executed and submitted by any Person respecting any matters arising
under this Agreement. Seller shall not be under any obligation to appear in,
prosecute or defend any legal action that is not incidental to its obligations
under this Agreement or its Related Documents and that in its opinion may
involve it in any expense or liability.
<PAGE>

            SECTION 6.4 SELLER MAY OWN NOTES OR THE CERTIFICATE

Subject to the provisions of the Sale and Servicing Agreement, Seller and any
Affiliate of Seller may in their individual or any other capacity become the
owner or pledgee of Notes or the Certificate with the same rights as they would
have if they were not Seller or an Affiliate thereof.

            SECTION 6.5 AMENDMENT.

                  (a) This Agreement may be amended by Seller and Purchaser
            without the consent of the Trust Collateral Agent, the Owner
            Trustee, the Certificateholder or any of the Noteholders (i) to cure
            any ambiguity or (ii) to correct any provisions in this Agreement;
            provided, however, that such action shall not, as evidenced by an
            Opinion of Counsel delivered to the Issuer, the Owner Trustee and
            the Trust Collateral Agent, adversely affect in any material respect
            the interests of any Certificateholder or Noteholder.

                  (b) This Agreement may also be amended from time to time by
            Seller and Purchaser with the consent of the Trust Collateral Agent
            and, if required, the Certificateholder and the Noteholders, in
            accordance with the Sale and Servicing Agreement, for the purpose of
            adding any provisions to or changing in any manner or eliminating
            any of the provisions of this Agreement, or of modifying in any
            manner the rights of the Certificateholder or Noteholders; PROVIDED,
            HOWEVER, the Seller provides the Trust Collateral Agent with an
            Opinion of Counsel, (which may be provided by the Seller's internal
            counsel) that no such amendment shall increase or reduce in any
            manner the amount of, or accelerate or delay the timing of,
            collections of payments on Receivables or distributions that shall
            be required to be made on any Note or Certificate.

                  (c) Prior to the execution of any such amendment or consent,
            Seller shall have furnished written notification of the substance of
            such amendment or consent to each Rating Agency.

                  (d) It shall not be necessary for the consent of
            Certificateholder or Noteholders pursuant to this Section to approve
            the particular form of any proposed amendment or consent, but it
            shall be sufficient if such consent shall approve the substance
            thereof. The manner of obtaining such consents and of evidencing the
            authorization of the execution thereof by Certificateholder or
            Noteholders shall be subject to such reasonable requirements as the
            Trust Collateral Agent may prescribe, including the establishment of
            record dates. The consent of a Holder of a Certificate or a Note
            given pursuant to this Section or pursuant to any other provision of
            this Agreement shall be conclusive and binding on such Holder and on
            all future Holders of such Certificate or Note and of any
            Certificate or Note issued upon the transfer thereof or in exchange
            thereof or in lieu thereof whether or not notation of such consent
            is made upon the Certificate or Note.

            SECTION 6.6 NOTICES

All demands, notices and communications to Seller or Purchaser hereunder shall
be in writing, personally delivered, or sent by telecopier (subsequently
confirmed in writing), reputable
<PAGE>

overnight courier or mailed by certified mail, return receipt requested, and
shall be deemed to have been given upon receipt (a) in the case of Seller, to
AmeriCredit Financial Services, Inc., 801 Cherry Street, Suite 3900, Fort Worth,
Texas 76102, Attention: Chief Financial Officer, or (b) in the case of
Purchaser, to AFS SenSub Corp., 639 Isbell Rd., Suite 390, Reno, Nevada 85909,
Attention: Chief Financial Officer, or such other address as shall be designated
by a party in a written notice delivered to the other party or to the Issuer,
Owner Trustee or the Trust Collateral Agent, as applicable.

            SECTION 6.7 MERGER AND INTEGRATION

Except as specifically stated otherwise herein, this Agreement and Related
Documents set forth the entire understanding of the parties relating to the
subject matter hereof, and all prior understandings, written or oral, are
superseded by this Agreement and the Related Documents. This Agreement may not
be modified, amended, waived or supplemented except as provided herein.

            SECTION 6.8 SEVERABILITY OF PROVISIONS

If any one or more of the covenants, provisions or terms of this Agreement shall
be for any reason whatsoever held invalid, then such covenants, provisions or
terms shall be deemed severable from the remaining covenants, provisions or
terms of this Agreement and shall in no way affect the validity or
enforceability of the other provisions of this Agreement.

            SECTION 6.9 INTENTION OF THE PARTIES

The execution and delivery of this Agreement shall constitute an acknowledgment
by Seller and Purchaser that they intend that the assignment and transfer herein
contemplated constitute a sale and assignment outright, and not for security, of
the Receivables and the Other Conveyed Property, conveying good title thereto
free and clear of any Liens, from Seller to Purchaser, and that the Receivables
and the Other Conveyed Property shall not be a part of Seller's estate in the
event of the bankruptcy, reorganization, arrangement, insolvency or liquidation
proceeding, or other proceeding under any federal or state bankruptcy or similar
law, or the occurrence of another similar event, of, or with respect to Seller.
In the event that such conveyance is determined to be made as security for a
loan made by Purchaser, the Issuer, the Noteholders or the Certificateholder to
Seller, the parties intend that Seller shall have granted to Purchaser a
security interest in all of Seller's right, title and interest in and to the
Receivables and the Other Conveyed Property conveyed pursuant to Section 2.1
hereof, and that this Agreement shall constitute a security agreement under
applicable law.

            SECTION 6.10. GOVERNING LAW

This Agreement shall be construed in accordance with the laws of the State of
New York without regard to the principles of conflicts of laws thereof and the
obligations, rights and remedies of the parties under this Agreement shall be
determined in accordance with such laws.

            SECTION 6.11. COUNTERPARTS
<PAGE>

For the purpose of facilitating the execution of this Agreement and for other
purposes, this Agreement may be executed simultaneously in any number of
counterparts, each of which counterparts shall be deemed to be an original, and
all of which counterparts shall constitute but one and the same instrument.

            SECTION 6.12. CONVEYANCE OF THE RECEIVABLES AND THE OTHER
CONVEYED PROPERTY TO THE ISSUER

Seller acknowledges that Purchaser intends, pursuant to the Sale and Servicing
Agreement, to convey the Receivables and the Other Conveyed Property, together
with its rights under this Agreement, to the Issuer on the date hereof. Seller
acknowledges and consents to such conveyance and pledge and waives any further
notice thereof and covenants and agrees that the representations and warranties
of Seller contained in this Agreement and the rights of Purchaser hereunder are
intended to benefit the Issuer, the Owner Trustee, the Trust Collateral Agent,
the Noteholders and the Certificateholder. In furtherance of the foregoing,
Seller covenants and agrees to perform its duties and obligations hereunder, in
accordance with the terms hereof for the benefit of the Issuer, the Owner
Trustee, the Trust Collateral Agent, the Noteholders and the Certificateholder
and that, notwithstanding anything to the contrary in this Agreement, Seller
shall be directly liable to the Issuer, the Owner Trustee, the Trust Collateral
Agent, the Noteholders and the Certificateholder (notwithstanding any failure by
the Servicer, the Backup Servicer or the Purchaser to perform their respective
duties and obligations hereunder or under Related Documents) and that the Trust
Collateral Agent may enforce the duties and obligations of Seller under this
Agreement against Seller for the benefit of the Owner Trustee, the Trust
Collateral Agent, the Noteholders and the Certificateholder.

            SECTION 6.13. NONPETITION COVENANT

Neither Purchaser nor Seller shall petition or otherwise invoke the process of
any court or government authority for the purpose of commencing or sustaining a
case against the Purchaser or the Issuer under any federal or state bankruptcy,
insolvency or similar law or appointing a receiver, liquidator, assignee,
trustee, custodian, sequestrator or other similar official of the Purchaser or
the Issuer or any substantial part of their respective property, or ordering the
winding up or liquidation of the affairs of the Purchaser or the Issuer.
<PAGE>

            IN WITNESS WHEREOF, the parties have caused this Purchase Agreement
to be duly executed by their respective officers as of the day and year first
above written.

                                    AFS SENSUB CORP., as Purchaser

                                    By /s/ Conney Coffey
                                      ------------------------------------------
                                       Name: Conney Coffey
                                       Title: Vice President, Structured
                                       Finance and Reporting

                                    AMERICREDIT FINANCIAL SERVICES,
                                       INC., as Seller

                                    By /s/ Preston A. Miller
                                      ------------------------------------------
                                       Name: Preston A. Miller
                                       Title: Executive Vice President and
                                       Treasurer

Accepted:

THE CHASE MANHATTAN BANK,
as Trustee and Trust Collateral Agent

By /s/ Kevin Crombie
   -----------------------------------------
   Name: Kevin Crombie
   Title: Assistant Vice President

                              [Purchase Agreement]
<PAGE>

                                   SCHEDULE A

                             SCHEDULE OF RECEIVABLES

<PAGE>

                                   SCHEDULE B

                        REPRESENTATIONS AND WARRANTIES OF

            AMERICREDIT FINANCIAL SERVICES, INC. ("AMERICREDIT")

            1. CHARACTERISTICS OF RECEIVABLES. Each Receivable (A) was
originated (i) by AmeriCredit, (ii) by a Dealer and purchased by AmeriCredit
from such Dealer under an existing Dealer Agreement or pursuant to a Dealer
Assignment with AmeriCredit and was validly assigned by such Dealer to
AmeriCredit pursuant to a Dealer Assignment or (iii) by a Third-Party Lender and
purchased by AmeriCredit from such Third-Party Lender under an existing Auto
Loan Purchase and Sale Agreement or pursuant to a Third-Party Lender Assignment
with AmeriCredit and was validly assigned by such Third-Party Lender to
AmeriCredit pursuant to a Third-Party Lender Assignment (B) was originated by
AmeriCredit, such Dealer or such Third-Party Lender for the retail sale of a
Financed Vehicle in the ordinary course of AmeriCredit's, the Dealer's or the
Third-Party Lender's business, in each case was originated in accordance with
AmeriCredit's credit policies and was fully and properly executed by the parties
thereto, and AmeriCredit, each Dealer and each Third-Party Lender had all
necessary licenses and permits to originate Receivables in the state where
AmeriCredit, each such Dealer or each such Third-Party Lender was located, (C)
contains customary and enforceable provisions such as to render the rights and
remedies of the holder thereof adequate for realization against the collateral
security, (D) is a Receivable which provides for level monthly payments
(provided that the period in the first Collection Period and the payment in the
final Collection Period of the Receivable may be minimally different from the
normal period and level payment) which, if made when due, shall fully amortize
the Amount Financed over the original term and (E) has not been amended or
collections with respect to which waived, other than as evidenced in the
Receivable File relating thereto.

            2. NO FRAUD OR MISREPRESENTATION. Each Receivable was originated (i)
by AmeriCredit, (ii) by a Dealer and was sold by the Dealer to AmeriCredit, or
(iii) by a Third-Party Lender and was sold by the Third-Party Lender to
AmeriCredit, and was sold by AmeriCredit to AFS SenSub Corp. ("AFS SenSub")
without any fraud or misrepresentation on the part of such Dealer or Third-Party
Lender in any case.

            3. COMPLIANCE WITH LAW. All requirements of applicable federal,
state and local laws, and regulations thereunder (including, without limitation,
usury laws, the Federal Truth-in-Lending Act, the Equal Credit Opportunity Act,
the Fair Credit Billing Act, the Fair Credit Reporting Act, the Fair Debt
Collection Practices Act, the Federal Trade Commission Act, the Moss-Magnuson
Warranty Act, the Federal Reserve Board's Regulations "B" and "Z" (including
amendments to the Federal Reserve's Official Staff Commentary to Regulation Z,
effective October 1, 1998, concerning negative equity loans), the Soldiers' and
Sailors' Civil Relief Act of 1940, each applicable state Motor Vehicle Retail
Installment Sales Act, and state adaptations of the National Consumer Act and of
the Uniform Consumer Credit Code and other consumer credit laws and equal credit
opportunity and disclosure laws) in respect of the Receivables and the Financed
Vehicles, have been complied with in all material respects, and each Receivable
and the sale of
<PAGE>

the Financed Vehicle evidenced by each Receivable complied at the time it was
originated or made and now complies in all material respects with all applicable
legal requirements.

            4. ORIGINATION. Each Receivable was originated in the United States.

            5. BINDING OBLIGATION. Each Receivable represents the genuine,
legal, valid and binding payment obligation of the Obligor thereon, enforceable
by the holder thereof in accordance with its terms, except (A) as enforceability
may be limited by bankruptcy, insolvency, reorganization or similar laws
affecting the enforcement of creditors' rights generally and by equitable
limitations on the availability of specific remedies, regardless of whether such
enforceability is considered in a proceeding in equity or at law and (B) as such
Receivable may be modified by the application after the Cutoff Date of the
Soldiers' and Sailors' Civil Relief Act of 1940, as amended; and all parties to
each Receivable had full legal capacity to execute and deliver such Receivable
and all other documents related thereto and to grant the security interest
purported to be granted thereby.

            6. NO GOVERNMENT OBLIGOR. No Obligor is the United States of America
or any State or any agency, department, subdivision or instrumentality thereof.

            7. OBLIGOR BANKRUPTCY. At the related Cutoff Date no Obligor had
been identified on the records of AmeriCredit as being the subject of a current
bankruptcy proceeding.

            8. SCHEDULES OF RECEIVABLES. The information set forth in the
Schedules of Receivables has been produced from the Electronic Ledger and was
true and correct in all material respects as of the close of business on the
related Cutoff Date.

9. MARKING RECORDS. By the Closing Date, AmeriCredit will have caused the
portions of the Electronic Ledger relating to the Receivables to be clearly and
unambiguously marked to show that the Receivables have been sold to AFS SenSub
by AmeriCredit and resold by AFS SenSub to the Trust in accordance with the
terms of the Sale and Servicing Agreement.

            10. COMPUTER TAPE. The Computer Tape made available by AmeriCredit
to AFS SenSub and to the Trust on the Closing Date was complete and accurate as
of the Cutoff Date and includes a description of the same Receivables that are
described in the Schedule of Receivables.

            11. ADVERSE SELECTION. No selection procedures adverse to the
Noteholders were utilized in selecting the Receivables from those receivables
owned by AmeriCredit which met the selection criteria contained in the Sale and
Servicing Agreement.

            12. CHATTEL PAPER. The Receivables constitute chattel paper within
the meaning of the UCC as in effect in the States of Texas and New York.

            13. ONE ORIGINAL. There is only one original executed copy of each
Receivable.

            14. RECEIVABLE FILES COMPLETE. There exists a Receivable File
pertaining to each Receivable and such Receivable File contains (a) a fully
executed original of the Receivable, (b) the original
<PAGE>

executed credit application, or a paper or electronic copy thereof and (c) the
original Lien Certificate or application therefor. Each of such documents which
is required to be signed by the Obligor has been signed by the Obligor in the
appropriate spaces. All blanks on any form have been properly filled in and each
form has otherwise been correctly prepared. The complete Receivable File for
each Receivable currently is in the possession of the Custodian.

            15. RECEIVABLES IN FORCE. No Receivable has been satisfied,
subordinated or rescinded, and the Financed Vehicle securing each such
Receivable has not been released from the lien of the related Receivable in
whole or in part. No terms of any Receivable have been waived, altered or
modified in any respect since its origination, except by instruments or
documents identified in the Receivable File. No Receivable has been modified as
a result of application of the Soldiers' and Sailors' Civil Relief Act of 1940,
as amended.

            16. LAWFUL ASSIGNMENT. No Receivable was originated in, or is
subject to the laws of, any jurisdiction the laws of which would make unlawful,
void or voidable the sale, transfer and assignment of such Receivable under this
Agreement or pursuant to transfers of the Notes.

            17. GOOD TITLE. Immediately prior to the conveyance of the
Receivables to AFS SenSub pursuant to this Agreement, AmeriCredit was the sole
owner thereof and had good and indefeasible title thereto, free of any Lien and,
upon execution and delivery of this Agreement by AmeriCredit, AFS SenSub shall
have good and indefeasible title to and will be the sole owner of such
Receivables, free of any Lien. No Dealer or Third-Party Lender has a
participation in, or other right to receive, proceeds of any Receivable.
AmeriCredit has not taken any action to convey any right to any Person that
would result in such Person having a right to payments received under the
related Insurance Policies or the related Dealer Agreements, Auto Loan Purchase
and Sale Agreements, Dealer Assignments, or Third-Party Lender Assignments or to
payments due under such Receivables.

            18. SECURITY INTEREST IN FINANCED VEHICLE. Each Receivable created
or shall create a valid, binding and enforceable first priority security
interest in favor of AmeriCredit in the Financed Vehicle. The Lien Certificate
and original certificate of title for each Financed Vehicle show, or if a new or
replacement Lien Certificate is being applied for with respect to such Financed
Vehicle the Lien Certificate will be received within 180 days of the Closing
Date and will show AmeriCredit named as the original secured party under each
Receivable as the holder of a first priority security interest in such Financed
Vehicle. With respect to each Receivable for which the Lien Certificate has not
yet been returned from the Registrar of Titles, AmeriCredit has applied for or
received written evidence from the related Dealer or Third-Party Lender that
such Lien Certificate showing AmeriCredit as first lienholder has been applied
for and AmeriCredit's security interest has been validly assigned by AmeriCredit
to AFS SenSub pursuant to this Agreement. Immediately after the sale, transfer
and assignment thereof by AmeriCredit to AFS SenSub, each Receivable will be
secured by an enforceable and perfected first priority security interest in the
Financed Vehicle in favor of AFS SenSub as secured party, which security
interest is prior to all other Liens upon and security interests in such
Financed Vehicle which now exist or may hereafter arise or be created (except,
as to priority, for any lien for taxes, labor or materials affecting a Financed
Vehicle). As of the Cutoff Date there were no Liens or claims
<PAGE>

for taxes, work, labor or materials affecting a Financed Vehicle which are or
may be Liens prior or equal to the Liens of the related Receivable.

            19. ALL FILINGS MADE. All filings (including, without limitation,
UCC filings) required to be made by any Person and actions required to be taken
or performed by any Person in any jurisdiction to give AFS SenSub a first
priority perfected lien on, or ownership interest in, the Receivables and the
proceeds thereof and the Other Conveyed Property have been made, taken or
performed.

            20. NO IMPAIRMENT. AmeriCredit has not done anything to convey any
right to any Person that would result in such Person having a right to payments
due under the Receivable or otherwise to impair the rights of the Trust, the
Trustee, the Trust Collateral Agent and the Noteholders in any Receivable or the
proceeds thereof.

            21. RECEIVABLE NOT ASSUMABLE. No Receivable is assumable by another
Person in a manner which would release the Obligor thereof from such Obligor's
obligations to AmeriCredit with respect to such Receivable.

            22. NO DEFENSES. No Receivable is subject to any right of
rescission, setoff, counterclaim or defense and no such right has been asserted
or threatened with respect to any Receivable.

            23. NO DEFAULT. There has been no default, breach, violation or
event permitting acceleration under the terms of any Receivable (other than
payment delinquencies of not more than 30 days), and no condition exists or
event has occurred and is continuing that with notice, the lapse of time or both
would constitute a default, breach, violation or event permitting acceleration
under the terms of any Receivable, and there has been no waiver of any of the
foregoing. As of the Cutoff Date no Financed Vehicle had been repossessed.

            24. INSURANCE. At the time of origination of a Receivable by
AmeriCredit or a purchase of a Receivable by AmeriCredit from a Dealer or
Third-Party Lender, each Financed Vehicle is required to be covered by a
comprehensive and collision insurance policy (i) in an amount at least equal to
the lesser of (a) its maximum insurable value or (b) the principal amount due
from the Obligor under the related Receivable, (ii) naming AmeriCredit as loss
payee and (iii) insuring against loss and damage due to fire, theft,
transportation, collision and other risks generally covered by comprehensive and
collision coverage. Each Receivable requires the Obligor to maintain physical
loss and damage insurance, naming AmeriCredit and its successors and assigns as
additional insured parties, and each Receivable permits the holder thereof to
obtain physical loss and damage insurance at the expense of the Obligor if the
Obligor fails to do so. No Financed Vehicle is insured under a policy of
Force-Placed Insurance on the Cutoff Date.

            25. PAST DUE. At the Cutoff Date no Receivable was more than 30 days
past due.

            26. REMAINING PRINCIPAL BALANCE. At the Cutoff Date the Principal
Balance of each Receivable set forth in the Schedules of Receivables is true and
accurate in all material respects.

            27. CERTAIN CHARACTERISTICS OF RECEIVABLES. (A) Each Receivable had
a remaining maturity, as
<PAGE>

of the Cutoff Date, of not more than 72 months; (B) each Receivable had an
original maturity of not more than 72 months; (C) each Receivable had a
remaining Principal Balance as of the Cutoff Date of at least $250 and not more
than $60,000; (D) each Receivable had an Annual Percentage Rate of at least 8%
and not more than 30%; (E) no Receivable was more than 30 days past due as of
the Cutoff Date and (F) no funds had been advanced by AmeriCredit, any Dealer,
any Third-Party Lender, or anyone acting on behalf of any of them in order to
cause any Receivable to qualify under clause (E) above.<PAGE>

                                                                  EXHIBIT 10.1

                     AMENDED AND RESTATED SHAREHOLDER AGREEMENT

                                  BY AND BETWEEN

                               WHITMAN CORPORATION,
                             A DELAWARE CORPORATION,

                                       AND

                                  PEPSICO, INC.,
                          A NORTH CAROLINA CORPORATION

                         DATED AS OF NOVEMBER 30, 2000

<PAGE>

                               TABLE OF CONTENTS
                                                                           Page
                                                                           ----
                                   ARTICLE I
                             CERTAIN DEFINITIONS

Section 1.1. Certain Definitions...........................................  1

                                  ARTICLE II
                         REPRESENTATIONS AND WARRANTIES

Section 2.1. Representations and Warranties of the Company ................  6
Section 2.2. Representations and Warranties of the Shareholder ............  7

                                 ARTICLE III
                         SHAREHOLDER AND COMPANY CONDUCT

Section 3.1. Acquisition of Voting Securities..............................  7
Section 3.2. Required Reduction of Ownership Percentage ...................  8
Section 3.3. Top-Up Rights................................................. 10
Section 3.4. Transfer...................................................... 10
Section 3.5. Charter and By-Laws........................................... 11
Section 3.6. Rights Agreement.............................................. 11
Section 3.7. Special Meetings Requested by the Shareholder; Nominations.... 11
Section 3.8. No Agreements................................................. 11
Section 3.9. Dakota Holdings............................................... 11

                                  ARTICLE IV
                              BOARD COMPOSITION
Section 4.1. Board Composition............................................. 12

                                  ARTICLE V
                        EFFECTIVENESS AND TERMINATION

Section 5.1. Effectiveness................................................. 12
Section 5.2. Termination................................................... 12
Section 5.3. Agreements Following Certain Acquisitions .................... 13

                                  ARTICLE VI
                                MISCELLANEOUS

Section 6.1. Injunctive Relief............................................. 13
Section 6.2. Successors and Assigns........................................ 14
Section 6.3. Amendments; Waiver..... ...................................... 14

                                    -i-

<PAGE>

                                                                          Page
                                                                          ----
Section 6.4.  Notices...................................................... 14
Section 6.5.  Applicable Law............................................... 15
Section 6.6.  Headings..................................................... 15
Section 6.7.  Integration.................................................. 15
Section 6.8.  Severability................................................. 15
Section 6.9.  Consent to Jurisdiction...................................... 16
Section 6.10. Counterparts................................................. 16

                                     -ii-

<PAGE>

         AMENDED AND RESTATED SHAREHOLDER AGREEMENT, dated as of November 30,
2000 (this "AGREEMENT"), by and between Whitman Corporation, a Delaware
corporation (the "COMPANY"), and PepsiCo, Inc., a North Carolina corporation
(the "SHAREHOLDER").

                             W I T N E S S E T H:

         WHEREAS, the Company and the Shareholder are parties to a
Shareholder Agreement, dated as of May 20, 1999 (the "ORIGINAL SHAREHOLDER
AGREEMENT");

         WHEREAS, the Company, Anchor Merger Sub, Inc., a Delaware
corporation ("MERGER SUB"), and PepsiAmericas, Inc., a Delaware corporation
("PAS"), have entered into an Agreement and Plan of Merger, dated as of
August 18, 2000 (the "MERGER AGREEMENT"), pursuant to which, among other
things, PAS will be merged with and into Merger Sub, with Merger Sub as the
surviving corporation, and in connection therewith, certain outstanding
shares of common stock of PAS will be converted into shares of common stock,
par value $0.01 per share (the "COMMON STOCK"), of the Company (the "MERGER");

         WHEREAS, the execution of this Agreement upon the consummation of
the Merger (the "CLOSING") is a covenant of the Company in the Merger
Agreement and a condition to the Company's obligations to close the
transactions contemplated by the Merger Agreement;

         WHEREAS, the Shareholder has entered into a voting agreement, dated
as of August 18, 2000, pursuant to which the Shareholder has agreed to vote
in favor of the Merger and the other transactions contemplated by the Merger
Agreement; and

         WHEREAS, in light of the transactions contemplated by the Merger
Agreement, the Company and the Shareholder desire to amend and restate in
this Agreement certain terms and conditions concerning the acquisition and
disposition of Voting Securities (as defined herein) of the Company by the
Shareholder, and related provisions concerning the Shareholder's relationship
with and investment in the Company immediately following the Closing.

         NOW, THEREFORE, in consideration of the mutual covenants and
agreements set forth herein and for other good and valuable consideration,
receipt and sufficiency of which is hereby acknowledged, the parties hereto
hereby agree as follows:

                                    ARTICLE I

                               CERTAIN DEFINITIONS

         Section 1.1. CERTAIN DEFINITIONS. In addition to other terms defined
elsewhere in this Agreement, as used in this Agreement, the following terms
shall have the meanings ascribed to them below:

         "AFFILIATE" shall mean, with respect to any person, any other person
that directly or indirectly through one or more intermediaries controls or is
controlled by or is under common control with such person. For the purposes
of this definition, "control," when used with respect

<PAGE>

to any particular person, means the power to direct the management and
policies of such person, directly or indirectly, whether through the
ownership of voting securities, by contract or otherwise; and the terms
"controlling" and "controlled" have meanings correlative to the foregoing.

         "AFFILIATED TRANSACTION COMMITTEE" shall mean the Affiliated
Transaction Committee of the Board.

         "AGREEMENT" shall have the meaning assigned to such term in the
preamble.

         "BENEFICIAL OWNER" (and, with correlative meanings, "BENEFICIALLY
OWN" and "BENEFICIAL OWNERSHIP") of any interest means a Person who, together
with his or its Affiliates, is or may be deemed a beneficial owner of such
interest for purposes of Rule 13d-3 or 13d-5 under the Exchange Act, or who,
together with his or its Affiliates, has the right to become such a
beneficial owner of such interest (whether such right is exercisable
immediately or only after the passage of time) pursuant to any agreement,
arrangement or understanding, or upon the exercise, conversion or exchange of
any warrant, right or other instrument, or otherwise; PROVIDED that a Person
shall not be deemed the Beneficial Owner of Voting Securities solely as a
result of having been granted a revocable proxy relating to such Voting
Securities in connection with any one special or annual meeting of
shareholders of the Company (including any postponements or adjournments
thereof), nor shall the procurement of such a proxy be deemed to give the
proxy holder "control" over any Person as to which such proxy holder does not
otherwise have control; and PROVIDED, FURTHER, that this definition shall be
subject to the last sentence of Section 3.9.

         "BOARD" shall mean the Board of Directors of the Company in office
at the applicable time, as elected in accordance with the By-Laws.

         "BUY-BACK EXCESS" shall have the meaning set forth in Section 3.2 of
this Agreement.

         "BUY-BACK OFFER" shall have the meaning set forth in Section 3.2 of
this Agreement.

         "BY-LAWS" shall mean the by-laws of the Company, as in effect
immediately following consummation of the Merger (including amendments
pursuant to the Merger Agreement), as they may be amended from time to time.

         "CHARTER" shall mean the Certificate of Incorporation of the
Company, as in effect immediately following consummation of the Merger, as it
may be amended from time to time.

          "CLOSING" shall have the meaning assigned in the third recital of
this Agreement.

          "COMBINED MAXIMUM OWNERSHIP PERCENTAGE" shall mean, calculated at a
particular point in time, a Total Ownership Percentage of 49.9%; PROVIDED
that in the event of a Permitted Acquisition (other than a Contingent Payment
Acquisition) which results in the Significant Shareholders' Total Ownership
Percentage exceeding 49.9%, so long as the Significant Shareholders' Total
Ownership Percentage exceeds 49.9% due to such Permitted

                                     -2-

<PAGE>

Acquisition, the Combined Maximum Ownership Percentage shall become the
Significant Shareholders' Total Ownership Percentage giving effect to such
Permitted Acquisition.

         "COMMISSION" shall mean the United States Securities and Exchange
Commission.

         "COMMON STOCK" shall have the meaning assigned in the first recital
of this Agreement.

         "COMPANY" shall have the meaning assigned in the preamble.

         "CONTINGENT PAYMENT ACQUISITION" shall mean any acquisition of
Voting Securities pursuant any Contingent Payment (as defined in the Merger
Agreement).

         "DAKOTA HOLDINGS" shall mean Dakota Holdings, LLC, a Delaware
limited liability company.

         "DAKOTA HOLDINGS AGREEMENT" shall have the meaning set forth in
Section 3.9 of this Agreement.

          "DIRECTOR" shall mean any member of the Board of Directors of the
Company in office at the applicable time, as elected in accordance with the
provisions of the By-Laws.

         "EXCHANGE ACT" shall mean the Securities Exchange Act of 1934, as
amended.

         "FAMILY" shall mean, with respect to any natural person, (i) any
child, stepchild, parent, stepparent, spouse or sibling, and (ii) any
grandchild, grandparent, uncle, aunt, first cousin, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law
who Beneficially Owns greater than 1% of the Voting Power or who has entered
into an agreement or commitment with said natural person with respect to the
Voting Securities, and shall in each case include adoptive relationships.

          "INDEPENDENT DIRECTOR" shall mean any person who is both (i)
independent of and otherwise unaffiliated with any member of the Shareholder
Group or the Pohlad Group, and who is not a director, officer, employee,
consultant or advisor (financial, legal or other) of any member of the
Shareholder Group or the Pohlad Group and has not served in any such capacity
in the previous two (2) years and (ii) not an officer or employee, consultant
or advisor (financial, legal or other) of the Company and has not served in
any such capacity in the previous two (2) years.

         "MAXIMUM OWNERSHIP PERCENTAGE" shall mean, calculated at a
particular point in time, a Total Ownership Percentage of 49.0%; PROVIDED
that in the event of a Permitted Acquisition (other than a Contingent Payment
Acquisition) which results in the Shareholder Group's Total Ownership
Percentage exceeding 49.0%, so long as the Shareholder Group's Total
Ownership Percentage exceeds 49.0% due to such Permitted Acquisition, the
Maximum Ownership Percentage shall become the Shareholder Group's Total
Ownership Percentage giving effect to such Permitted Acquisition.

                                    -3-

<PAGE>

         "MERGER" shall have the meaning set forth in the second recital of
this Agreement.

         "MERGER AGREEMENT" shall have the meaning set forth in the second
recital of this Agreement.

         "MINIMUM PRICE" shall mean the highest average of per share closing
prices on the NYSE Composite Tape of the Voting Securities (or, if the Voting
Securities are not quoted on the NYSE Composite Tape, on the principal United
States securities exchange registered under the Exchange Act on which such
Voting Securities are listed, or, if such Voting Securities are not listed on
any such exchange, the closing sale price or bid quotation with respect to
such Voting Securities on the National Association of Securities Dealers,
Inc. Automated Quotations System or any system then in use; PROVIDED,
HOWEVER, if no such quotations are available with respect to such Voting
Securities, the price of such Voting Securities shall be the public market
trading value as determined by an investment banker of nationally recognized
reputation selected by the Independent Directors) over any 20 consecutive
trading day period during the 18 month period preceding the date of the first
public announcement of a Shareholder Offer.

         "NYSE" shall mean the New York Stock Exchange, Inc.

         "PERMITTED ACQUISITION" shall mean the acquisition of Voting
Securities pursuant to (1) a transaction or series of transactions that would
not result, individually or in the aggregate, in any member of the
Shareholder Group, singly or as part of a partnership, limited partnership,
syndicate or other 13D Group, directly or indirectly, acquiring, proposing to
acquire, or publicly announcing or otherwise disclosing an intention to
propose to acquire, or offering or agreeing to acquire, by purchase or
otherwise, Beneficial Ownership of any Security so as to cause either (x) the
Shareholder Group's Total Ownership Percentage to exceed the Maximum
Ownership Percentage or (y) the Significant Shareholders' Total Ownership
Percentage to exceed the Combined Maximum Ownership Percentage, (2) a
Shareholder Offer at a price which is not less than the Minimum Price, (3) a
merger or other business combination approved by a majority of the Voting
Power attributable to Voting Securities not Beneficially Owned by the
Shareholder Group, (4) a transaction approved by a majority of the
Independent Directors, or (5) any acquisition of Voting Securities by the
Pohlad Group approved by the Affiliated Transaction Committee (or, if such
Committee shall not be in existence, by a committee of the Board composed
entirely of Independent Directors). For purposes of this definition, the
value of any securities offered in exchange for Voting Securities pursuant to
a Shareholder Offer shall be the average of closing prices on the NYSE
Composite Tape of such securities (or, if such securities are not quoted on
the NYSE Composite Tape, on the principal United States securities exchange
registered under the Exchange Act on which such securities are listed, or, if
such securities are not listed on any such exchange, the closing sale price
or bid quotation with respect to such security on the National Association of
Securities Dealers, Inc. Automated Quotations System or any system then in
use; PROVIDED, HOWEVER, if no such quotations are available with respect to
such securities, the price of such securities shall be the public market
trading value as determined by an investment banker of nationally recognized
reputation selected by the Independent Directors) over the five consecutive
trading day period preceding the date of the first public announcement of
such Shareholder Offer.

                                     -4-

<PAGE>

         "PERMITTED SIGNIFICANT TRANSFEREE" shall have the meaning set forth
in Section 3.4 of this Agreement.

         "PERSON" shall mean any individual, partnership, joint venture,
corporation, trust, unincorporated organization, government or department or
agency of a government.

         "POHLAD COMPANIES" shall mean Pohlad Companies, a Minnesota
corporation.

         "POHLAD GROUP" shall mean Robert Pohlad, any Affiliate of Robert
Pohlad (other than the Company or its subsidiaries), any member of Robert
Pohlad's Family, and any Person with whom Robert Pohlad, any Affilate of
Robert Pohlad or any member of Robert Pohlad's Family is part of a 13D Group.

          "POHLAD SHAREHOLDER AGREEMENT" shall mean the Shareholder
Agreement, dated as of November 30, 2000, by and between the Company, Dakota
Holdings, the Pohlad Companies and Robert Pohlad.

         "REPURCHASE" shall have the meaning set forth in Section 3.2 of this
Agreement.

         "RIGHTS AGREEMENT" shall mean the Shareholder Rights Agreement,
dated as of May 20, 1999, as amended.

         "SECURITIES ACT" shall mean the Securities Act of 1933, as amended.

         "SHAREHOLDER" shall have the meaning assigned in the preamble.

         "SHAREHOLDER AFFILIATE" shall mean any Affiliate of the Shareholder
(other than the Company or its subsidiaries).

         "SHAREHOLDER GROUP" shall mean the Shareholder, any Shareholder
Affiliate, any Permitted Significant Transferee and any Person with whom the
Shareholder, any Shareholder Affiliate or any Permitted Significant
Transferee is part of a 13D Group in respect of Voting Securities, but shall
exclude any member of the Pohlad Group.

         "SHAREHOLDER OFFER" shall mean (i) a tender offer or exchange offer
by any member of the Shareholder Group for all Voting Securities not
Beneficially Owned by the Shareholder Group or (ii) a merger or other
business combination pursuant to which all Voting Securities not Beneficially
Owned by the Shareholder Group are proposed to be exchanged or converted.

         "SIGNIFICANT SHAREHOLDERS" shall mean, collectively, the Shareholder
Group and the Pohlad Group.

         "SIGNIFICANT TRANSFEREE" shall mean a transferee which would have a
Total Ownership Percentage of greater than 20% after giving effect to any
proposed Transfer.

         "13D GROUP" shall mean any group of Persons acquiring, holding,
voting or disposing of any Voting Security which would be required under
Section 13(d) of the Exchange

                                       -5-

<PAGE>

Act and the rules and regulations thereunder to file a statement on Schedule
13D with the Commission as a "person" within the meaning of Section 13(d)(3)
of the Exchange Act; PROVIDED that a Person shall not be deemed to be part of
a 13D Group with another Person solely as a result of having been granted a
revocable proxy relating to such Person's Voting Securities in connection
with any one special or annual meeting of shareholders of the Company
(including any postponements or adjournments thereof); PROVIDED, FURTHER,
that the members of the Shareholder Group shall not be deemed to be part of a
13D Group with any member of the Pohlad Group solely due to ownership of
interests in Dakota Holdings so long as all members of the Shareholder Group
are in compliance with the proviso in the first sentence of Section 3.9.

         "TOTAL OWNERSHIP PERCENTAGE" shall mean, calculated at a particular
point in time, the Voting Power represented by the Voting Securities
Beneficially Owned by the Person (or Persons) whose Total Ownership
Percentage is being determined.

         "TOTAL VOTING POWER" shall mean, calculated at a particular point in
time, the aggregate Votes represented by all then outstanding Voting
Securities.

         "TRADING DAY", with respect to a Voting Security, shall mean a day
on which the principal national securities exchange on which such Voting
Security is listed or admitted to trading is open for the transaction of
business or, if such security is not listed or admitted to trading on any
national securities exchange, any day other than a Saturday, Sunday or a day
on which banking institutions in the City of New York are authorized or
obligated to close.

         "TRANSFER" shall mean any sale, transfer, pledge, encumbrance or
other disposition to any Person, and to "TRANSFER" shall mean to sell,
transfer, pledge, encumber or otherwise dispose of to any Person.

         "VOTES" shall mean votes entitled to be cast generally in the
election of Directors, assuming the conversion of any securities then
convertible into Common Stock or shares of any other class of capital stock
of the Company then entitled to vote generally in the election of Directors.

         "VOTING POWER" shall mean, calculated at a particular point in time,
the ratio, expressed as a percentage, of (a) the Votes represented by the
Voting Securities with respect to which the Voting Power is being determined
to (b) Total Voting Power.

         "VOTING SECURITIES" shall mean the Common Stock and shares of any
other class of capital stock of the Company then entitled to vote generally
in the election of Directors and any securities then convertible into Common
Stock or shares of any other class of capital stock of the Company then
entitled to vote generally in the election of Directors.

                                  ARTICLE II

                        REPRESENTATIONS AND WARRANTIES

         Section 2.1. REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The
Company represents and warrants to the Shareholder as of the date hereof as
follows:

                                     -6-

<PAGE>

         (a) The Company has been duly incorporated and is validly existing
     as a corporation in good standing under the laws of the State of Delaware
     and has all necessary corporate power and authority to enter into this
     Agreement and to carry out its obligations hereunder.

         (b) This Agreement has been duly and validly authorized by the Company
     and all necessary and appropriate action has been taken by the Company to
     execute and deliver this Agreement and to perform its obligations
     hereunder.

         (c) This Agreement has been duly executed and delivered by the Company
     and assuming due authorization and valid execution and delivery by the
     Shareholder, this Agreement is a valid and binding obligation of the
     Company, enforceable against it in accordance with its terms.

         Section 2.2. REPRESENTATIONS AND WARRANTIES OF THE SHAREHOLDER. The
Shareholder represents and warrants to the Company as of the date hereof as
follows:

         (a) The Shareholder has been duly incorporated and is validly existing
     as a corporation in good standing under the laws of the State of North
     Carolina and has all necessary corporate power and authority to enter into
     this Agreement and to carry out its obligations hereunder.

         (b) This Agreement has been duly and validly authorized by the
     Shareholder and all necessary and appropriate action has been taken by the
     Shareholder to execute and deliver this Agreement and to perform its
     obligations hereunder.

         (c) This Agreement has been duly executed and delivered by the
     Shareholder and assuming due authorization and valid execution and delivery
     by the Company, this Agreement is a valid and binding obligation of the
     Shareholder, enforceable against it in accordance with its terms.

                                  ARTICLE III

                         SHAREHOLDER AND COMPANY CONDUCT

         Section 3.1. ACQUISITION OF VOTING SECURITIES. Subject to the
provisions of this Agreement, during the term of this Agreement, the
Shareholder agrees with the Company that, without the prior approval of a
majority of the Independent Directors, the Shareholder will not, and will
cause each member of the Shareholder Group not to, take any of the following
actions:

         (a) singly or as part of a partnership, limited partnership, syndicate
     or other 13D Group, directly or indirectly, acquire, propose to acquire,
     or publicly announce or otherwise disclose an intention to propose to
     acquire, or offer or agree to acquire, by purchase or otherwise,
     Beneficial Ownership of any Voting Security so as to cause either (x) the
     Shareholder Group's Total Ownership Percentage to exceed the Maximum
     Ownership Percentage or (y) to the best of the Shareholder's knowledge, the
     Significant

                                     -7-

<PAGE>

     Shareholders' Total Ownership Percentage to exceed the Combined Maximum
     Ownership Percentage, other than pursuant to a Permitted Acquisition;

         (b) form, join or in any way participate in a 13D Group with respect to
     any Voting Securities of the Company or any securities of its subsidiaries
     if such 13D Group's Total Ownership Percentage would exceed the Maximum
     Ownership Percentage;

         (c) initiate (including by means of proposing or publicly announcing or
     otherwise disclosing an intention to propose, solicit, offer, seek to
     effect or negotiate) a merger, acquisition or other business combination
     transaction relating to the Company (other than a merger, acquisition or
     business combination of a third party (not a member of the Shareholder
     Group) with the Company) which would not be, if consummated, a Permitted
     Acquisition.

     The Shareholder Group shall not be prohibited by the terms of this
Agreement from taking any action or exercising any right which is not
inconsistent with the terms of this Agreement, including soliciting or
obtaining the revocable proxy of any other shareholder of the Company with
respect to the election of directors or any other matter, seeking the
election of new directors, calling special meetings of shareholders of the
Company, making shareholder proposals, engaging in discussions with the Board
or the management of the Company or otherwise voting its Voting Securities in
any manner in which any member of the Shareholder Group shall determine in
its sole discretion. In addition, this section shall not be deemed to
restrict Directors affiliated with the Shareholder from participating as
Board members in the direction of the Company.

         Section 3.2. REQUIRED REDUCTION OF OWNERSHIP PERCENTAGE. (a) If at
any time the Shareholder becomes aware that the Shareholder Group's Total
Ownership Percentage exceeds the Maximum Ownership Percentage, other than as
permitted pursuant to the terms of this Agreement, then the Shareholder
shall, or shall cause the Shareholder Group to, consistent with the
provisions of this Agreement, promptly (in any event, prior to the earliest
to occur of (i) the record date for the next annual or special meeting of
shareholders of the Company, (ii) the record date for the taking of any
action of shareholders of the Company by written consent or (iii) the
purchase of any additional Voting Securities by any member of the Shareholder
Group) take all action necessary to reduce the amount of Voting Securities
Beneficially Owned by the Shareholder Group such that the Shareholder Group's
Total Ownership Percentage is not greater than the Maximum Ownership
Percentage.

         (b) If at any time the Shareholder becomes aware that the
Significant Shareholders' Total Ownership Percentage exceeds the Combined
Maximum Ownership Percentage as a result of a reduction in the number of
Voting Securities outstanding (including, without limitation, as a result of
a purchase of Common Stock by the Company) (such excess, the "BUY-BACK
EXCESS"), then the Shareholder shall, or shall cause the Shareholder Group
to, consistent with the provisions of this Agreement, promptly (in any event,
prior to the earliest to occur of (x) the record date for the next annual or
special meeting of shareholders of the Company, (y) the record date for the
taking of any action of shareholders of the Company by written consent or (z)
the purchase of any additional Voting Securities by any member of the

                                     -8-

<PAGE>

Shareholder Group) take all action necessary to reduce the amount of Voting
Securities Beneficially Owned by the Shareholder Group by the amount of such
Buy-Back Excess in the following manner and order:

              (i) First, by Transferring to a Person other than the Significant
          Shareholders the amount, if any, of Voting Securities received by the
          Shareholder Group as an Aggregate Contingent Payment (as defined in
          the Merger Agreement), to the extent not previously Transferred
          pursuant to this Section;

              (ii) Second, by Transferring to a Person other than the
          Significant Shareholders the pro rata amount (based on the relative
          amounts of Voting Securities purchased by each of the Shareholder
          Group and the Pohlad Group since August 18, 2000) of Voting
          Securities, if any, purchased by the Shareholder Group since
          August 18, 2000;

              (iii) Third, by Transferring to a Person other than the
          Significant Shareholders the pro rata amount of any remaining Buy-Back
          Excess (based on the relative Total Ownership Percentages, after
          giving effect to (i) and (ii) above, of the Shareholder Group and
          the Pohlad Group immediately prior to the time when the Combined
          Maximum Ownership Percentage was exceeded).

               (iv) Fourth, notwithstanding the foregoing, the maximum number
          of Voting Securities that the Shareholder Group shall be required to
          Transfer pursuant to (ii) and (iii) above shall not exceed the amount
          that would be required to be Transferred if the Pohlad Group made its
          corresponding pro rata Transfers consistent with (ii) and (iii) above.

          (c) If at any time the Shareholder becomes aware that the
Significant Shareholders' Total Ownership Percentage exceeds the Combined
Maximum Ownership Percentage, other than as a result of a reduction in the
total number of Voting Securities (which situation shall be governed by
paragraph (b) above) or as permitted pursuant to the terms of this Agreement,
then the Shareholder shall, or shall cause the Shareholder Group to,
consistent with the provisions of this Agreement, promptly (in any event,
prior to the earliest to occur of (i) the record date for the next annual or
special meeting of shareholders of the Company, (ii) the record date for the
taking of any action of shareholders of the Company by written consent or
(iii) the purchase of any additional Voting Securities by any member of the
Shareholder Group) take all action necessary to reduce the amount of Voting
Securities Beneficially Owned by the Shareholder Group such that the
Significant Shareholders' Total Ownership Percentage is not greater than the
Combined Maximum Ownership Percentage; PROVIDED that if the Shareholder
becomes aware that the Significant Shareholders' Total Ownership Percentage
exceeds the Combined Maximum Ownership Percentage due to an acquisition by a
member of the Pohlad Group of Voting Securities or the addition to the Pohlad
Group of a new Affiliate that Beneficially Owns Voting Securities, the
Shareholder shall promptly inform the Company of such fact but shall not be
required to reduce the amount of Voting Securities Beneficially Owned by the
Shareholder Group due to such event so long as the Shareholder Group is in
compliance with the other provisions of this Agreement.

                                     -9-

<PAGE>

         (d) During the term of this Agreement, if the Company purchases
shares of Common Stock from the public, whether by tender offer, open market
purchase or otherwise (a "REPURCHASE"), the Company shall contemporaneously
with the Repurchase offer to purchase from each of the Significant
Shareholders, on the same terms and conditions, including price, as in the
Repurchase, a percentage of those shares of Common Stock Beneficially Owned
by each of the Significant Shareholders equal to the percentage of shares of
Common Stock to be Repurchased from the Beneficial Owners of shares of Common
Stock other than the Significant Shareholders (the "BUY-BACK OFFER"). The
Company shall provide notice to the Shareholder of its intention to engage in
a Repurchase and of the mechanism by which the Repurchase shall occur not
less than thirty (30) days in advance of the date on which the Repurchase is
to be consummated, and the Shareholder shall provide notice to the Company
within ten (10) days of receipt of such notice of whether the Shareholder
Group intends to accept the Buy-Back Offer.

         Section 3.3. TOP-UP RIGHTS. During the term of this Agreement, if
the Shareholder Group's Total Ownership Percentage is below the Maximum
Ownership Percentage and the Significant Shareholders' Total Ownership
Percentage is below the Combined Maximum Ownership Percentage, the
Shareholder Group may at its option purchase Voting Securities from time to
time in the open market or otherwise in an amount not in excess of the amount
that would cause either (x) the Shareholder Group's Total Ownership
Percentage to exceed the Maximum Ownership Percentage or (y) the Significant
Shareholders' Total Ownership Percentage to exceed the Combined Maximum
Ownership Percentage.

         Section 3.4. TRANSFER. Except for any requirements of the Securities
Act applicable to such Transfer, each of the members of the Shareholder Group
may Transfer any of the Voting Securities Beneficially Owned by such member
of the Shareholder Group to any transferee which is not a Significant
Transferee without restriction, and may effect such a Transfer to a
Significant Transferee with the prior written consent of a majority of the
Independent Directors; PROVIDED, HOWEVER, that each of such members of the
Shareholder Group may Transfer any of such Voting Securities to any
Significant Transferee without restriction (other than as contemplated in the
last sentence of this Section 3.4) or obtaining such consent if, at the time
of such Transfer, the Shareholder Group Beneficially Owns at least 20% of the
outstanding voting securities of such Significant Transferee and no other
Person Beneficially Owns a greater percentage of the outstanding voting
securities of such Significant Transferee than the percentage owned by the
Shareholder Group (a "PERMITTED SIGNIFICANT TRANSFEREE"). The Shareholder
Group shall obtain the prior written consent of a majority of the Independent
Directors to any Transfer by the Shareholder Group of any voting securities
of a Permitted Significant Transferee if, at the time of such Transfer, such
Permitted Significant Transferee has a Total Ownership Percentage of greater
than 20% and such Transfer would result in (x) the Shareholder Group
Beneficially Owning less than 20% of the outstanding voting securities of
such Permitted Significant Transferee or (y) any other Person Beneficially
Owning a greater percentage of the outstanding voting securities of such
Permitted Significant Transferee than the percentage Beneficially Owned by
the Shareholder Group after giving effect to such Transfer. Notwithstanding
the foregoing provisions of this Section 3.4, none of the restrictions of
this Section 3.4 shall apply to (i) a Transfer by any member of the
Shareholder Group of any of the Voting Securities in a public offering
pursuant to which reasonable efforts are made to achieve a wide distribution
of such Voting Securities, (ii) a liquidation of Dakota Holdings or other
distribution of its assets to its members in proportion to their capital
accounts or (iii) a Transfer

                                       -10-

<PAGE>

of Voting Securities among members of the Shareholder Group, PROVIDED that
any such transferee shall agree with the Company in writing prior to each
such Transfer to be bound by the terms of this Agreement with respect to its
Beneficial Ownership of Voting Securities.

         Section 3.5. CHARTER AND BY-LAWS. During the term of this Agreement
the Company shall not, and the Shareholder Group shall not, and shall not
facilitate any effort to, amend, alter or repeal, or propose the amendment,
alteration or repeal of, any provision of the Charter or the By-Laws in any
manner which is inconsistent with the terms of this Agreement. If at any time
during the term of this Agreement the provisions of this Agreement shall
conflict with the provisions of the Charter or the By-Laws, the parties shall
use all reasonable efforts, consistent with their fiduciary responsibilities,
to cause the provisions of the Charter and the By-Laws to be brought into
conformity with the provisions of this Agreement.

         Section 3.6. RIGHTS AGREEMENT. During the term of this Agreement,
the Company hereby agrees not to (i) amend any provision of the Rights
Agreement in any manner which is inconsistent with the terms of this
Agreement or the Merger Agreement and which adversely affects the rights of
the Shareholder Group under the terms of this Agreement or (ii) adopt any new
rights agreement which is inconsistent with the terms of this Agreement or
the Merger Agreement and which adversely affects the rights of the
Shareholder Group under the terms of this Agreement.

         Section 3.7. SPECIAL MEETINGS REQUESTED BY THE SHAREHOLDER;
NOMINATIONS. In the event that during the term of this Agreement the
Shareholder Group requests a special meeting of the stockholders of the
Company in accordance with the By-Laws, or the Shareholder Group nominates an
alternative slate of directors to the slate proposed by the Board at any
annual meeting of stockholders of the Company in accordance with the By-Laws,
the Company hereby agrees that the Company shall not, without the
Shareholder's consent, from the date of receipt of such request for a special
meeting or the date of receipt of such nomination, as the case may be, until
the adjournment of the requested special meeting or the annual meeting, as
the case may be, (i) take any action effecting a material change in its
capital structure, (ii) declare or pay a dividend (other than any regular
quarterly dividend), (iii) materially increase the compensation of any
executive officer or (iv) take any material action not in the ordinary course
of business; PROVIDED that this provision shall not restrict the ability of
the Company to comply with commitments entered into prior to the date of such
request.

         Section 3.8. NO AGREEMENTS. During the term of this Agreement,
except as specifically contemplated in Section 3.9, no member of the
Shareholder Group shall, directly or indirectly, enter into any agreement or
commitment with any member of the Pohlad Group with respect to the holding,
voting, acquisition or disposition of Voting Securities.

        Section 3.9. DAKOTA HOLDINGS. Notwithstanding the provisions of
Section 3.8, members of the Shareholder Group and members of the Pohlad Group
may be parties to the Amended and Restated Limited Liability Company
Agreement of Dakota Holdings, LLC, attached as Annex A to this Agreement (the
"DAKOTA HOLDINGS AGREEMENT"), and hold interests in Dakota Holdings pursuant
to the Dakota Holdings Agreement, PROVIDED that (i) the Dakota Holdings
Agreement expressly provides that (x) the members of the Shareholder Group
who are parties to the Dakota Holdings Agreement ultimately have sole power
with respect to the voting

                                       -11-

<PAGE>

of that percentage of the Voting Securities owned by Dakota Holdings equal to
the Class A Percentage Interest (as defined in the Dakota Holdings Agreement)
(the "CLASS A PERCENTAGE") of the Shareholder Group members, and with respect
to the voting of such Voting Securities members of the Pohlad Group shall
have no power, influence or discretion which is not subject to the ultimate
power of the Shareholder Group to direct the voting, and (y) the members of
the Pohlad Group who are parties to the Dakota Holdings Agreement have sole
power with respect to the voting of their Class A Percentage of the Voting
Securities owned by Dakota Holdings, and with respect to the voting of such
Voting Securities members of the Shareholder Group shall have no power,
influence or discretion; and (ii) Dakota Holdings shall not take any action
to acquire, directly or indirectly, Beneficial Ownership of any additional
Voting Securities (excluding any Voting Securities acquired pursuant to the
transactions contemplated by the Merger Agreement (including any Contingent
Payment Acquisitions) and excluding Voting Securities acquired through stock
dividends on then-owned Voting Securities and excluding the acquisition of
Voting Securities pursuant to the right of Dakota Holdings to acquire Common
Stock with a value of $25 million from the PepsiCo Group, in connection with
the Merger). So long as the proviso in the preceding sentence is complied
with, for purposes of calculating the Shareholder Group's Total Ownership
Percentage, those Voting Securities over which a member of the Pohlad Group
has the sole powers described in clause (y) of clause (i) in proviso in the
preceding sentence shall not be considered Beneficially Owned by the
Shareholder Group and a transfer of interests in Dakota Holdings from a
member of the Pohlad Group to a member of the Shareholder Group shall be
permitted with the consent of the Affiliated Transaction Committee (or, if
such Committee shall not be in existence, by a committee of the Board
composed entirely of Independent Directors), which consent shall not be
unreasonably withheld.

                                 ARTICLE IV

                              BOARD COMPOSITION

         Section 4.1. BOARD COMPOSITION. As of the Effective Time (as defined
in the Merger Agreement) of the Merger, the Board shall consist of the
current directors of the Company and Robert Pohlad.

                                  ARTICLE V

                        EFFECTIVENESS AND TERMINATION

         Section 5.1. EFFECTIVENESS. This Agreement shall take effect
immediately upon the Closing and shall remain in effect until it is
terminated pursuant to Section 5.2 hereof.

          Section 5.2. TERMINATION. This Agreement shall terminate upon the
earliest to occur of the following:

         (a) The Shareholder Group's Total Ownership Percentage falling below
     15% at any time.

         (b) Subject to the provisions of Section 5.3, the consummation of a
    Permitted Acquisition pursuant to which the Shareholder Group becomes the
     Beneficial Owner of

                                      -12-

<PAGE>

     not less than that percentage of the Voting Power attributable to all
     Voting Securities of the Company equal to 75% less the Pohlad Group's
     Voting Power;

         (c) Two (2) years from the first date on which the following two
     conditions are met: (i) the Shareholder Group has become the Beneficial
     Owner of a percentage of the Voting Power attributable to all Voting
     Securities of the Company which is greater than (x) 55% less the Pohlad
     Group's Voting Power, but less than (y) 75% less the Pohlad Group's Voting
     Power, and (ii) the Shareholder Group has consummated a Shareholder Offer
     at a price which is not less than the Minimum Price pursuant to which at
     least 10% of the Voting Power attributable to Voting Securities not
     Beneficially Owned by the Significant Shareholders prior to such
     Shareholder Offer were acquired by the Shareholder Group.

         (d) Mutual written agreement of the Company and the Shareholder at any
     time to terminate this Agreement, which termination shall occur at a time
     to be fixed in such mutual agreement.

          Section 5.3. AGREEMENTS FOLLOWING CERTAIN ACQUISITIONS. Following
the consummation of a Permitted Acquisition pursuant to which the Shareholder
Group becomes the Beneficial Owner of not less than that percentage of the
Voting Power attributable to all Voting Securities of the Company equal to
75% less the Pohlad Group's Voting Power, the Company agrees that for a
period of 90 days after such Permitted Acquisition it shall not, without the
Shareholder's consent, take any action or enter into any agreement which (i)
restricts the acquisition by the Shareholder Group of any Voting Securities,
notwithstanding that such acquisition is not a Permitted Acquisition, (ii)
restricts in any manner the transfer of any such Voting Securities by the
Shareholder Group, (iii) restricts any right of the Shareholder Group
specifically preserved under Section 3.1, (iv) otherwise restricts in any
manner the ability of any member of the Shareholder Group to take any action
with respect to Voting Securities, including, in the case of clauses (i)
through (iv), amending the Rights Agreement to provide for any such
restriction, (v) effects a material change in the capital structure, (vi)
declares or pays a dividend (other than any regular quarterly dividend),
(vii) materially increases the compensation of any executive officer or
(viii) is a material action not in the ordinary course of business; PROVIDED
that this provision shall not restrict the ability of the Company to comply
with commitments entered into prior to the date of such Permitted
Acquisition.

                                 ARTICLE VI

                               MISCELLANEOUS

          Section 6.1. INJUNCTIVE RELIEF. Each party hereto acknowledges that
it would be impossible to determine the amount of damages that would result
from any breach of any of the provisions of this Agreement and that the
remedy at law for any breach, or threatened breach, of any of such provisions
would likely be inadequate and, accordingly, agrees that each other party
shall, in addition to any other rights or remedies which it may have, be
entitled to seek such equitable and injunctive relief as may be available
from any court of competent jurisdiction to compel specific performance of,
or restrain any party from violating, any of such provisions. In connection
with any action or proceeding for injunctive relief, each party hereto hereby
waives

                                    -13-

<PAGE>

the claim or defense that a remedy at law alone is adequate and agrees, to
the maximum extent permitted by law, to have each provision of this Agreement
specifically enforced against him or it, without the necessity of posting
bond or other security against him or it, and consents to the entry of
injunctive relief against him or it enjoining or restraining any breach or
threatened breach of such provisions of this Agreement.

          Section 6.2. SUCCESSORS AND ASSIGNS. This Agreement shall be
binding upon, shall inure to the benefit of and shall be enforceable by the
Company and by the Shareholder and their respective successors and permitted
assigns, and no such term or provision is for the benefit of, or intended to
create any obligations to, any other Person.

          Section 6.3. AMENDMENTS; WAIVER. (a) This Agreement may be amended
only by an agreement in writing executed by the parties hereto. Any approval
of an amendment of this Agreement upon the part of the Company shall require
the approval of a majority of the Independent Directors at a duly convened
meeting thereof.

          (b) Either party may waive in whole or in part any benefit or right
provided to it under this Agreement, such waiver being effective only if
contained in a writing executed by the waiving party. No failure by any party
to insist upon the strict performance of any covenant, duty, agreement or
condition of this Agreement or to exercise any right or remedy consequent
upon breach thereof shall constitute a waiver of any such breach or of any
other covenant, duty, agreement or condition, nor shall any delay or omission
of either party to exercise any right hereunder in any manner impair the
exercise of any such right accruing to it thereafter. Any waiver of any
benefit or right provided to the Company under this Agreement shall require
the approval of a majority of the Board and a majority of the Independent
Directors at a duly convened meeting thereof.

          Section 6.4. NOTICES. Except as otherwise provided in this
Agreement, all notices, requests, claims, demands, waivers and other
communications hereunder shall be in writing and shall be deemed to have been
duly given when delivered by hand, when delivered personally or by courier,
three days after being deposited in the mail (registered or certified mail,
postage prepaid, return receipt requested), or when received by facsimile
transmission if promptly confirmed by one of the foregoing means, as follows:

          If to the Shareholder:

             PepsiCo, Inc.
             700 Anderson Hill Road
             Purchase, NY 10577
             Attention: General Counsel
             Fax: (914) 253-3667

                                      -14-

<PAGE>

         with a copy to:

             Cravath, Swaine & Moore
             Worldwide Plaza
             825 Eighth Avenue
             New York, NY 10019
             Attention: Robert Townsend
             Fax: (212) 765-1047

         If to the Company:

             Whitman Corporation
             3501 Algonquin Road
             Rolling Meadows, Illinois 60008
             Attention: General Counsel
             Fax: (847) 818-5047

         with a copy to:

             Wachtell, Lipton, Rosen & Katz
             51 West 52nd Street
             New York, NY 10019
             Attention: Seth A. Kaplan
             Fax: (212) 403-2223

or to such other address or facsimile number as either party may, from time
to time, designate in a written notice given in a like manner.

          Section 6.5. APPLICABLE LAW. This Agreement shall be governed by
and construed in accordance with the internal laws of the State of Delaware
without giving effect to principles of conflicts of law.

         Section 6.6. HEADINGS. The descriptive headings of the several
sections in this Agreement are for convenience only and do not constitute a
part of this Agreement and shall not be deemed to limit or affect in any way
the meaning or interpretation of this Agreement.

         Section 6.7. INTEGRATION. This Agreement and the other writings
referred to herein or delivered pursuant hereto which form a part hereof
contain the entire understanding of the parties with respect to its subject
matter. This Agreement supersedes all prior agreements and understandings
between the parties with respect to its subject matter. There are no
restrictions, agreements, promises, representations, warranties, covenants or
undertakings with respect to its subject matter other than those expressly
set forth or referred to herein.

         Section 6.8. SEVERABILITY. If any term or provision of this
Agreement or any application thereof shall be declared or held invalid,
illegal or unenforceable, in whole or in part, whether generally or in any
particular jurisdiction, such provision shall be deemed amended to the
extent, but only to the extent, necessary to cure such invalidity, illegality
or unenforceability,

                                    -15-

<PAGE>

and the validity, legality and enforceability of the remaining provisions,
both generally and in every other jurisdiction, shall not in any way be
affected or impaired thereby.

         Section 6.9. CONSENT TO JURISDICTION. In connection with any suit,
claim, action or proceeding arising out of this Agreement, the Shareholder
and the Company each hereby consent to the in personam jurisdiction of the
United States federal courts and state courts located in the State of
Delaware; the Shareholder and the Company each agree that service in the
manner set forth in Section 6.4 hereof shall be valid and sufficient for all
purposes; and the Shareholder and the Company each agree to, and irrevocably
waive any objection based on forum non conveniens or venue not to, appear in
any United States federal court or state court located in the State of
Delaware.

         Section 6.10. COUNTERPARTS. This Agreement may be executed by the
parties hereto in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same
instrument.

                                   -16-

<PAGE>

         IN WITNESS WHEREOF, the Company and the Shareholder have caused this
Agreement to be duly executed by their respective authorized officers as of
the date set forth at the head of this Agreement.

                                     WHITMAN CORPORATION

                                     By: /s/ Steven R. Andrews
                                        -----------------------------
                                        Name:  Steven R. Andrews
                                        Title: Sr. V.P.

                                     PEPSICO, INC. (on behalf of itself and all
                                     members of the Shareholder Group)

                                     By: /s/ W. Timothy Heaviside
                                        ---------------------------------
                                        Name:  W. Timothy Heaviside
                                        Title:

                                     -17-

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