Document:

ex10-72.htm

Moody National Reit I, Inc.  POS AM

 

EXHIBIT 10.72

ENVIRONMENTAL INDEMNITY AGREEMENT

THIS ENVIRONMENTAL INDEMNITY AGREEMENT (this “Agreement”) is made as of the 2nd day of July, 2013, by MOODY NATIONAL HP N-CHARLES HOLDING, LLC, a Delaware limited liability company, having an address at 6363 Woodway, Suite 110, Houston, Texas 77057 (“Borrower”) and MOODY NATIONAL REIT I, INC., a Maryland corporation, having an address at 6363 Woodway, Suite 110, Houston, Texas 77057 (“REIT”; Borrower and REIT hereinafter referred to, individually and collectively, as the context may require, as “Indemnitor”), in favor of JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, a national banking association chartered under the laws of the United States of America, having an address at 383 Madison Avenue, New York, New York 10179 (together with its successors and assigns, “Indemnitee”) and the other Indemnified Parties (as defined in the Loan Agreement (defined below)).

RECITALS:

A.           Borrower is the owner of the Property.

B.           Indemnitee is prepared to make a loan (the “Loan”) to Borrower in the principal amount of $7,800,000.00 pursuant to a Loan Agreement of even date herewith between Borrower and Indemnitee (as the same may hereafter be amended, restated, replaced, supplemented, renewed, extended or otherwise modified from time to time, the “Loan Agreement”), which Loan shall be evidenced by that certain Promissory Note of even date herewith given by Borrower in favor of Indemnitee (as the same may hereafter be amended, restated, replaced, supplemented, renewed, extended or otherwise modified from time to time, the “Note”) and secured by, among other things, that certain Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing, dated as of the date hereof given by Borrower to Indemnitee and encumbering the Property (as the same may hereafter be amended, restated, replaced, supplemented, renewed, extended or otherwise modified from time to time, the “Mortgage”). Capitalized terms not otherwise defined herein shall have the meaning set forth in the Loan Agreement.

C.           Indemnitee is unwilling to make the Loan unless Indemnitor agrees to provide the indemnification, representations, warranties, covenants and other matters described in this Agreement for the benefit of the Indemnified Parties.

D.           Indemnitor is entering into this Agreement to induce Indemnitee to make the Loan.

AGREEMENT:

NOW THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Indemnitor hereby agrees for the benefit of the Indemnified Parties as follows:

 

  

  

  

1.           Indemnification.   Indemnitor covenants and agrees, at its sole cost and expense, to protect, defend, indemnify, release and hold the Indemnified Parties harmless from and against any and all Losses (defined below) imposed upon or incurred by or asserted against any Indemnified Parties and directly or indirectly arising out of or in any way attributable to any one or more of the following: (a) any presence of any Hazardous Substances in, on, above, or under the Property; (b) any past, present or threatened Release of Hazardous Substances in, on, above, under or from the Property; (c) any activity by Indemnitor, any Person affiliated with Indemnitor, and any tenant or other user of the Property in connection with any actual, proposed or threatened use, treatment, storage, holding, existence, disposition or other Release, generation, production, manufacturing, processing, refining, control, management, abatement, removal, handling, transfer or transportation to or from the Property of any Hazardous Substances at any time located in, under, on or above the Property; (d) any activity by Indemnitor, any Person affiliated with Indemnitor, and any tenant or other user of the Property in connection with any actual or proposed Remediation of any Hazardous Substances at any time located in, under, on or above the Property, whether or not such Remediation is voluntary or pursuant to court or administrative order, including but not limited to any removal, remedial or corrective action; (e) any past, present or threatened non-compliance or violations of any Environmental Laws (or permits issued pursuant to any Environmental Law) in connection with the Property or operations thereon, including but not limited to any failure by Indemnitor, any Person affiliated with Indemnitor, and any tenant or other user of the Property to comply with any order of any Governmental Authority in connection with any Environmental Laws; (f) the imposition, recording or filing or the threatened imposition, recording or filing of any Environmental Lien encumbering the Property; (g) any administrative processes or proceedings or judicial proceedings in any way connected with any matter addressed in this Agreement; (h) any past, present or threatened injury to, destruction of or loss of natural resources in any way connected with the Property, including but not limited to costs to investigate and assess such injury, destruction or loss; (i) any acts of Indemnitor, any Person affiliated with Indemnitor, and any tenant or other user of the Property in arranging for disposal or treatment, or arranging with a transporter for transport for disposal or treatment, of Hazardous Substances at any facility or incineration vessel containing such or similar Hazardous Substances; (j) any acts of Indemnitor, any Person affiliated with any Indemnitor, and any tenant or other user of the Property in accepting any Hazardous Substances for transport to disposal or treatment facilities, incineration vessels or sites from which there is a Release, or a threatened Release of any Hazardous Substance which causes the incurrence of costs for Remediation; (k) in each case, to the extent caused by Hazardous Substances or violation of any Environmental Law, any personal injury, wrongful death, or property or other damage arising under any statutory or common law or tort law theory, including but not limited to damages assessed for private or public nuisance or for the conducting of an abnormally dangerous activity on or near the Property; and (l) in each case, to the extent relating to Hazardous Substances or Environmental Laws, any misrepresentation or inaccuracy in any representation or warranty or material breach or failure to perform any covenants or other obligations pursuant to this Agreement, the Loan Agreement or the Mortgage.

 

  

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2.           Duty to Defend and Attorneys and Other Fees and Expenses.   Upon written request by any Indemnified Party, Indemnitor shall defend same (if requested by any Indemnified Party, in the name of the Indemnified Party) by attorneys and other professionals approved by the Indemnified Parties. Notwithstanding the foregoing, any Indemnified Parties may, in their sole and absolute discretion, engage their own attorneys and other professionals to defend or assist them, and, at the option of such Indemnified Parties, their attorneys shall control the resolution of any claim or proceeding, providing that no compromise or settlement shall be entered without Indemnitor’s consent, which consent shall not be unreasonably withheld. Upon demand, Indemnitor shall pay or, in the sole and absolute discretion of the Indemnified Parties, reimburse, the Indemnified Parties for the payment of reasonable fees and disbursements of attorneys, engineers, environmental consultants, laboratories and other professionals in connection therewith.

3.           Definitions.   As used in this Agreement, the following terms shall have the following meanings:

The term “Legal Action” means any claim, suit or proceeding, whether administrative or judicial in nature.

The term “Losses” includes any losses, damages, costs, fees, expenses, claims, suits, judgments, awards, liabilities (including but not limited to strict liabilities), obligations, debts, diminutions in value (but only to the extent of any deficiency in respect of the Debt), fines, penalties, charges, costs of Remediation (whether or not performed voluntarily), amounts paid in settlement, foreseeable and unforeseeable consequential damages, litigation costs, attorneys’ fees, engineers’ fees, environmental consultants’ fees, and investigation costs (including but not limited to costs for sampling, testing and analysis of soil, water, air, building materials, and other materials and substances whether solid, liquid or gas), of whatever kind or nature, and whether or not incurred in connection with any judicial or administrative proceedings, actions, claims, suits, judgments or awards.

4.           Unimpaired Liability.   The liability of Indemnitor under this Agreement shall in no way be limited or impaired by, and Indemnitor hereby consents to and agrees to be bound by, any amendment or modification of the provisions of the Note, the Loan Agreement, the Mortgage or any other Loan Document to or with Indemnitee by Indemnitor or any Person who succeeds Indemnitor or any Person as owner of the Property. In addition, the liability of Indemnitor under this Agreement shall in no way be limited or impaired by (i) any extensions of time for performance required by the Note, the Loan Agreement, the Mortgage or any of the other Loan Documents, (ii) any sale or transfer of all or part of the Property, (iii) except as provided herein, any exculpatory provision in the Note, the Loan Agreement, the Mortgage, or any of the other Loan Documents limiting Indemnitee’s recourse to the Property or to any other security for the Note, or limiting Indemnitee’s rights to a deficiency judgment against Indemnitor, (iv) the accuracy or inaccuracy of the representations and warranties made by Indemnitor under the Note, the Loan Agreement, the Mortgage or any of the other Loan Documents or herein, (v) the release of Indemnitor or any other Person from performance or observance of any of the agreements, covenants, terms or conditions contained in any of the other Loan Documents by operation of law, Indemnitee’s voluntary act, or otherwise, (vi) the release or substitution in whole or in part of any security for the Loan, or (vii) Indemnitee’s failure to record the Mortgage or file any UCC financing statements (or Indemnitee’s improper recording or filing of any thereof) or to otherwise perfect, protect, secure or insure any security interest or lien given as security for the Loan; and, in any such case, whether with or without notice to Indemnitor and with or without consideration.

 

  

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5.           Enforcement.   The Indemnified Parties may enforce the obligations of Indemnitor without first resorting to or exhausting any security or collateral or without first having recourse to the Note, the Loan Agreement, the Mortgage, or any other Loan Documents or any of the Property, through foreclosure proceedings or otherwise, provided, however, that nothing herein shall inhibit or prevent Indemnitee from suing on the Note, foreclosing, or exercising any power of sale under, the Mortgage, or exercising any other rights and remedies thereunder. This Agreement shall not be secured by the Mortgage unless Indemnitee expressly elects in writing to make this Agreement so secured, which Indemnitee is entitled to do in its sole and absolute discretion. It is not necessary for an Event of Default to have occurred for the Indemnified Parties to exercise their rights pursuant to this Agreement. Notwithstanding any provision of the Loan Agreement, the obligations pursuant to this Agreement are exceptions to any non-recourse or exculpation provision of the Loan Agreement; Indemnitor is fully and personally liable for such obligations, and such liability is not limited to the original or amortized principal balance of the Loan or the value of the Property.

6.           Survival.   The obligations and liabilities of Indemnitor under this Agreement shall fully survive indefinitely notwithstanding any termination, satisfaction, assignment, entry of a judgment of foreclosure, exercise of any power of sale, or delivery of a deed in lieu of foreclosure of the Mortgage. Notwithstanding the provisions of this Agreement to the contrary, the liabilities and obligations of Indemnitor hereunder shall not apply to the extent that Indemnitor can prove that such liabilities and obligations arose from Hazardous Substances that: (a) were not present on or a threat to the Property prior to the date that the Indemnitee or its nominee acquired title to the Property, whether by foreclosure, exercise of power of sale or otherwise, acquired such title (or, if the Property is transferred to an assuming Transferee in accordance with the provisions of the Loan Agreement, were not present on or a threat to the Property prior to the date on which such Transferee acquired title to the Property); and (b) were not the result of any act or negligence of Indemnitor or any of Indemnitor’s affiliates, or any of its or their agents or contractors, acting in their capacities as such.

7.           Interest. Any amounts payable to any Indemnified Parties under this Agreement shall become immediately due and payable on demand and, if not paid within thirty (30) days of such demand therefor, shall bear interest at the lesser of (a) the Default Rate or (b) the maximum interest rate which Indemnitor may by law pay or the Indemnified Parties may charge and collect, from the date payment was due, provided that the foregoing shall be subject to the provisions of Article 4 of the Note.

8.           Waivers.   (a)   Indemnitor hereby waives (i) any right or claim of right to cause a marshaling of Indemnitor’s assets or to cause Indemnitee or other Indemnified Parties to proceed against any of the security for the Loan before proceeding under this Agreement against Indemnitor; (ii) and relinquishes all rights and remedies accorded by applicable law to indemnitors or guarantors, except any rights of subrogation, reimbursement, contribution or indemnity (collectively, “Cross-Indemnity Rights”) which Indemnitor may have, provided that the indemnity provided for hereunder shall neither be contingent upon the existence of any such Cross-Indemnity Rights nor subject to any claims or defenses whatsoever which may be asserted in connection with the enforcement or attempted enforcement of such Cross-Indemnity Rights, including, without limitation, any claim that such Cross-Indemnity Rights were abrogated by any acts of Indemnitee or other Indemnified Parties; (iii) the right to assert a counterclaim, other than a mandatory or compulsory counterclaim, in any action or proceeding brought against or by Indemnitee or other Indemnified Parties; (iv) notice of acceptance hereof and of any action taken or omitted in reliance hereon; (v) presentment for payment, demand of payment, protest or notice of nonpayment or failure to perform or observe, or other proof, or notice or demand; and (vi) all homestead exemption rights against the obligations hereunder and the benefits of any statutes of limitations or repose. Notwithstanding anything to the contrary contained herein, Indemnitor hereby agrees to postpone the exercise of any Cross-Indemnity Rights until the Loan shall have been paid in full.

 

  

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(b)           Indemnitor hereby waives, to the fullest extent permitted by law, the right to trial by jury in any action, proceeding or counterclaim, whether in contract, tort or otherwise, relating to this Agreement or the other Loan Documents or any acts or omissions of any Indemnified Parties in connection therewith.

9.           Subrogation.   Indemnitor shall take any and all reasonable actions, including institution of legal action against third parties, necessary or appropriate to obtain reimbursement, payment or compensation from such Person responsible for the presence of any Hazardous Substances at, in, on, under or near the Property or otherwise obligated by law to bear the cost. The Indemnified Parties shall be and hereby are subrogated to all of Indemnitor’s rights now or hereafter in such claims.

10.          Indemnitor’s Representations and Warranties.   Indemnitor represents and warrants that:

(a)           if Indemnitor is a corporation, a limited liability company, a statutory trust or partnership, it has the full corporate/ limited liability company/ partnership/ trust power and authority to execute and deliver this Agreement and to perform its obligations hereunder; the execution, delivery and performance of this Agreement by Indemnitor has been duly and validly authorized; and all requisite corporate/ limited liability company/ partnership/ trust action has been taken by Indemnitor to make this Agreement valid and binding upon Indemnitor, enforceable in accordance with its terms;

(b)           if Indemnitor is a corporation, a limited liability company, a statutory trust or partnership, its execution of, and compliance with, this Agreement will not result in the breach of any term or provision of the charter, by-laws, partnership, operating or trust agreement, or other governing instrument of Indemnitor or result in the breach of any term or provision of, or conflict with or constitute a default under, or result in the acceleration of any obligation under, any agreement, indenture or loan or credit agreement or other instrument to which Indemnitor or the Property is subject, or result in the violation of any law, rule, regulation, order, judgment or decree to which Indemnitor or the Property is subject;

(c)           to the best of Indemnitor’s knowledge, there is no action, suit, proceeding or investigation pending or threatened against it which, either in any one instance or in the aggregate, may result in any material adverse change in the business, operations, financial condition, properties or assets of Indemnitor, or in any material impairment of the right or ability of Indemnitor to carry on its business substantially as now conducted, or in any material liability on the part of Indemnitor, or which would draw into question the validity of this Agreement or of any action taken or to be taken in connection with the obligations of Indemnitor contemplated herein, or which would be likely to impair materially the ability of Indemnitor to perform under the terms of this Agreement;

 

  

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(d)           it does not believe, nor does it have any reason or cause to believe, that it cannot perform each and every covenant contained in this Agreement;

(e)           to the best of Indemnitor’s knowledge, no approval, authorization, order, license or consent of, or registration or filing with, any governmental authority or other person, and no approval, authorization or consent of any other party is required in connection with this Agreement; and

(f)           this Agreement constitutes a valid, legal and binding obligation of Indemnitor, enforceable against it in accordance with the terms hereof.

11.          No Waiver.   No delay by any Indemnified Party in exercising any right, power or privilege under this Agreement shall operate as a waiver of any such privilege, power or right.

12.          Notice of Legal Actions.   Each party hereto shall, within ten (10) Business Days of receipt thereof, give written notice to the other party hereto of (i) any notice, advice or other communication received in writing from any Governmental Authority or any source whatsoever with respect to Hazardous Substances on, from or affecting the Property, and (ii) any legal action brought against such party or related to the Property, with respect to which Indemnitor could reasonably be expected to have liability under this Agreement. Such notice shall comply with the provisions of Section 15 hereof.

13.          Examination of Books and Records.   At reasonable times and upon reasonable notice, the Indemnified Parties and their accountants shall have the right to examine the records, books, management and other papers of Indemnitor pertaining to its financial condition or the income, expenses and operation of the Property, at the Property or at the office regularly maintained by Indemnitor where the books and records are located. The Indemnified Parties and their accountants shall have the right to make copies and extracts from the foregoing records and other papers.

14.          Intentionally Omitted.

 

15.          Notices.   All notices or other written communications hereunder shall be made in accordance with Section 10.6 of the Loan Agreement. Notices to Borrower or Lender shall be addressed in accordance with Section 10.6 of the Loan Agreement; notices to Indemnitor shall be addressed as follows:

 

	 	  	
Moody National REIT I, Inc.

	 	  	
6363 Woodway, Suite 110

	 	  	
Houston, Texas 77057

	 	  	
Attention: Brett C. Moody

	 	  	
Facsimile No.: (713) 977-7505

 

  

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with a copy to:

	
Gresham Savage Nolan & Tilden, PC

	 	  	
501 W. Broadway, Suite 800

	 	  	
San Diego, California 92101

	 	  	
Attention: Jerome A. Grossman

	 	  	
Facsimile No.: (619) 615-2180

 

16.          Duplicate Originals; Counterparts.   This Agreement may be executed in any number of duplicate originals and each duplicate original shall be deemed to be an original. This Agreement may be executed in several counterparts, each of which counterparts shall be deemed an original instrument and all of which together shall constitute a single Agreement. The failure of any party hereto to execute this Agreement, or any counterpart hereof, shall not relieve the other signatories from their obligations hereunder.

17.          No Oral Change.   This Agreement, and any provisions hereof, may not be modified, amended, waived, extended, changed, discharged or terminated orally or by any act or failure to act on the part of Indemnitor or any Indemnified Party, but only by an agreement in writing signed by the party against whom enforcement of any modification, amendment, waiver, extension, change, discharge or termination is sought.

18.          Headings, Etc.   The headings and captions of various paragraphs of this Agreement are for convenience of reference only and are not to be construed as defining or limiting, in any way, the scope or intent of the provisions hereof.

19.          Number and Gender/Successors and Assigns.   All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural as the identity of the Person referred to may require. Without limiting the effect of specific references in any provision of this Agreement, the term “Indemnitor” shall be deemed to refer to each and every Person comprising an Indemnitor from time to time, as the sense of a particular provision may require, and to include the heirs, executors, administrators, legal representatives, successors and assigns of Indemnitor, all of whom shall be bound by the provisions of this Agreement, provided that no obligation of Indemnitor may be assigned except with the written consent of Indemnitee. Each reference herein to Indemnitee shall be deemed to include its successors and assigns. This Agreement shall inure to the benefit of Indemnitor and the Indemnified Parties and their respective successors and assigns forever.

20.          Release of Liability.   Any one or more parties liable upon or in respect of this Agreement may be released without affecting the liability of any party not so released.

21.          Rights Cumulative.   The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies which Indemnitee has under the Note, the Mortgage, the Loan Agreement or the other Loan Documents or would otherwise have at law or in equity.

 

22.          Inapplicable Provisions.   If any term, condition or covenant of this Agreement shall be held to be invalid, illegal or unenforceable in any respect, this Agreement shall be construed without such provision.

 

  

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23.          Governing Law.   (a)   THIS AGREEMENT WAS NEGOTIATED IN THE STATE OF NEW YORK, AND MADE BY INDEMNITOR AND ACCEPTED BY INDEMNITEE IN THE STATE OF NEW YORK, AND THE PROCEEDS OF THE NOTE SECURED HEREBY WERE DISBURSED FROM THE STATE OF NEW YORK, WHICH STATE THE PARTIES AGREE HAS A SUBSTANTIAL RELATIONSHIP TO THE PARTIES AND TO THE UNDERLYING TRANSACTION EMBODIED HEREBY, AND IN ALL RESPECTS, INCLUDING, WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, THIS AGREEMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE (WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS) AND ANY APPLICABLE LAW OF THE UNITED STATES OF AMERICA, EXCEPT THAT AT ALL TIMES THE PROVISIONS FOR THE CREATION, PERFECTION, AND ENFORCEMENT OF THE LIENS AND SECURITY INTERESTS CREATED PURSUANT HERETO AND PURSUANT TO THE OTHER LOAN DOCUMENTS WITH RESPECT TO THE PROPERTY SHALL BE GOVERNED BY AND CONSTRUED ACCORDING TO THE LAW OF THE STATE IN WHICH THE PROPERTY IS LOCATED, IT BEING UNDERSTOOD THAT, TO THE FULLEST EXTENT PERMITTED BY THE LAW OF SUCH STATE, THE LAW OF THE STATE OF NEW YORK SHALL GOVERN THE CONSTRUCTION, VALIDITY AND ENFORCEABILITY OF ALL LOAN DOCUMENTS AND ALL OF THE OBLIGATIONS ARISING HEREUNDER OR THEREUNDER. TO THE FULLEST EXTENT PERMITTED BY LAW, INDEMNITOR HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVES ANY CLAIM TO ASSERT THAT THE LAW OF ANY OTHER JURISDICTION GOVERNS THIS AGREEMENT AND THE NOTE, AND THIS AGREEMENT AND THE NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK PURSUANT TO SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW.

(b)           ANY LEGAL SUIT, ACTION OR PROCEEDING AGAINST INDEMNITEE OR INDEMNITOR ARISING OUT OF OR RELATING TO THIS AGREEMENT MAY AT INDEMNITEE’S OPTION BE INSTITUTED IN ANY FEDERAL OR STATE COURT IN THE CITY OF NEW YORK, COUNTY OF NEW YORK, PURSUANT TO SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND INDEMNITOR (I) WAIVES ANY OBJECTIONS WHICH IT MAY NOW OR HEREAFTER HAVE BASED ON VENUE AND/OR FORUM NON CONVENIENS OF ANY SUCH SUIT, ACTION OR PROCEEDING, (II) HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY SUCH COURT IN ANY SUIT, ACTION OR PROCEEDING AND (III) DOES HEREBY DESIGNATE AND APPOINT:

 

Neil O’Halloran

O’Halloran Ryan LLP

275 Madison Avenue, Suite 2005

New York, NY 10016

 

  

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AS ITS AUTHORIZED AGENT TO ACCEPT AND ACKNOWLEDGE ON ITS BEHALF SERVICE OF ANY AND ALL PROCESS WHICH MAY BE SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING IN ANY FEDERAL OR STATE COURT IN NEW YORK, NEW YORK, AND AGREES THAT SERVICE OF PROCESS UPON SAID AGENT AT SAID ADDRESS AND WRITTEN NOTICE OF SAID SERVICE MAILED OR DELIVERED TO INDEMNITOR IN THE MANNER PROVIDED HEREIN SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON INDEMNITOR IN ANY SUCH SUIT, ACTION OR PROCEEDING IN THE STATE OF NEW YORK. INDEMNITOR (I) SHALL GIVE PROMPT NOTICE TO INDEMNITEE OF ANY CHANGED ADDRESS OF ITS AUTHORIZED AGENT HEREUNDER, (II) MAY AT ANY TIME AND FROM TIME TO TIME DESIGNATE A SUBSTITUTE AUTHORIZED AGENT WITH AN OFFICE IN NEW YORK, NEW YORK (WHICH SUBSTITUTE AGENT AND OFFICE SHALL BE DESIGNATED AS THE PERSON AND ADDRESS FOR SERVICE OF PROCESS), AND (III) SHALL PROMPTLY DESIGNATE SUCH A SUBSTITUTE IF ITS AUTHORIZED AGENT CEASES TO HAVE AN OFFICE IN NEW YORK, NEW YORK OR IS DISSOLVED WITHOUT LEAVING A SUCCESSOR.

24.          Miscellaneous.   (a)   Wherever pursuant to this Agreement (i) Indemnitee exercises any right given to it to approve or disapprove, (ii) any arrangement or term is to be satisfactory to Indemnitee, or (iii) any other decision or determination is to be made by Indemnitee, the decision of Indemnitee to approve or disapprove, all decisions that arrangements or terms are satisfactory or not satisfactory and all other decisions and determinations made by Indemnitee, shall be in the sole and absolute discretion of Indemnitee and shall be final and conclusive, except as may be otherwise expressly and specifically provided herein.

(b)           Wherever pursuant to this Agreement it is provided that Indemnitor pay any costs and expenses, such costs and expenses shall include, but not be limited to, legal fees and disbursements of Indemnitee, whether retained firms, the reimbursements for the expenses of the in-house staff or otherwise.

(c)           If Indemnitor consists of more than one person or party, the obligations and liabilities of each such person or party hereunder shall be joint and several.

[NO FURTHER TEXT ON THIS PAGE]

 

  

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IN WITNESS WHEREOF, this Agreement has been executed by Indemnitor and is effective as of the day and year first above written.

 

	 	
INDEMNITOR:

	 	  	 
	 	
MOODY NATIONAL REIT I, INC., a Maryland corporation

	 	 	  
	 	
By:

	
/s/ Brett C. Moody

	 	
 

	
Name:  Brett C. Moody

	 	
 

	
Title:    President

	 	 	  
	 	
MOODY NATIONAL HP N-CHARLES HOLDING, LLC, a Delaware limited liability company

	 	 	  
	 	
By:

	/s/ Brett C. Moody
	 	
 

	
Name:  Brett C. Moody

	 	
 

	
Title:  President

 

[Signature Page to Environmental Indemnity Agreement]DPS-EX10.1_06.30.13

SCHEDULE OF TERMS
(Goods)

June 20, 2013
	
			
	TERMS

	Purchaser:
	The American Bottling Company, a Delaware corporation and Mott's LLP, a Delaware limited liability company, both with a principal place of business at 5301 Legacy Drive, Plano, Texas 75024.
Purchaser may also order Goods on behalf of their respective affiliates or third party co-packers, but they shall not be deemed third party beneficiaries.    

	Supplier:
	CROWN Cork & Seal USA, Inc., a Delaware corporation having its principal place of business at One Crown Way, Philadelphia, PA 19154-4599.

	Term:
	Effective Date:
	(***)

	End Date:
	(***)

	Goods:
	Aluminum 12-ounce (202/212 x 413), 8-ounce (202/212 x 307) and 16-ounce (202/211 x 603) beverage cans and ends (“Goods”) as listed on Exhibit B, to be delivered to the Delivery Locations as listed in Exhibit B, and printed with up to six color decoration. End units supplied shall be 202 diameter standard “LOE” (large opening end) or Supplier's 202 diameter “Super-Ends®”. (***)

	Delivery Locations:
	Delivery Locations are as specified in the Price List on Exhibit B.

	Specifications:

	The Goods must conform to the drawings attached as Exhibit C as well as the Purchaser's Performance Specifications and Purchaser's Environmental Policy and Biological Specifications attached hereto and incorporated herein as Exhibit C. Any change to the specifications or drawings must be approved by Purchaser.

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	 	Price:
	Prices listed on Exhibit B are effective (***). Prices are delivered including standard inks with up to (***)-color graphics.  A pricing table for all sizes of Goods, including Delivery Locations and Prices is set forth on Exhibit B.
There shall be an additional charge for color tabs of (***). The minimum order quantity for color tabs is (***).
There shall be an additional charge for white basecoat of (***).

Throughout the Term of this Agreement, Prices shall be adjusted based on the Price Adjustment formula set forth (***):

(***)

The invoice Price for Goods shall be adjusted only to reflect changes (increases or decreases) in: (1) aluminum ingot costs affecting the pro-forma price calculation; and (2) conversion costs with a baseline price as set forth in Exhibit B.  

Aluminum  ingot costs to set up Pro-forma pricing:

The ingot component of the price adjustment factor is based on (***)

	 
	 
	 
	 
	 
	 
	 
	 
	 

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	 	Price (continued):

	 
	The can/end (***) Price shall be adjusted (***)

	 	 
	 
	 
	 
	 
	 

	 	 
	 
	(***)

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	Example of (***) Price adjustment for (***):
	 
	 

	 	 
	 
	 
	 
	 
	 

	 	 
	(***)
	 
	 
	 
	 

	 	 
	 
	 
	 
	 
	 

	 	 
	Monthly Reconciliation (***):

	 
	 

	 	 
	(***)
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	For example: 
(***)

Conversion Costs (including ingot  can/end  conversion): 

The conversion cost shall remain firm from (***).
Beginning (***) and for the remainder of the Term of the Agreement,
the  conversion cost as stated in Exhibit B may be adjusted (***). 

The adjustment will reflect (***). The first such adjustment shall 
be on (***) and subsequent 
adjustments shall be made (***). 

Example:
(***)

Except for the Price adjustments set forth above, there will be no other Price adjustments to the ex-works Price.

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 	Freight: FSC - Fuel Surcharge

	Supplier's freight by can size as stated in Exhibit B can be adjusted (***) to reflect changes in fuel surcharge (FSC) only as set forth below.  The baseline for the FSC adjustment is (***) as shown in Exhibit B. 

FSC adjustment mechanism: 
Fuel prices and surcharges will be reviewed (***) and calculated based on 
(***). The FSC that Supplier charges Purchaser will be based on the table set forth in Exhibit D.

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	Freight: FSC - Fuel Surcharge

	The agreed base fuel surcharge is (***). The surcharge rate (***)   Agreed mileage is set forth in Exhibit D.  The FSC rate will change once there has been a cumulative change of (***)

(***) fuel surcharge adjustment schedule is as follows:

	 
	(***)
	(***)
	 

	 
	(***)
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	(***)
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	(***)
	 

	For example (***):

(***)

Customer Pick-Up (CPU):
Purchaser reserves the right to provide and pay for freight between the Supplier facilities (plants or warehouses) and Purchaser Delivery Locations.  If Purchaser elects to provide and pay for freight between the Supplier facilities and Purchaser Delivery Locations, then all Prices are ex-works Supplier facilities and Supplier will provide CPU rates as set forth on Exhibit E which are equal to its cost to deliver the Goods by commercial carrier. The CPU rate will be adjusted (***) based on FSC change in accordance with the table in Exhibit D. The current CPU rate and Supplier's primary and secondary supplying plants are set forth in Exhibit E.

All invoices will be issued at Delivered pricing, if there are Purchaser plant locations that pick up Goods at Supplier locations or Warehouses then Supplier will reconcile all customer pick ups and issue a credit by (***).

Others:
Beginning in (***), the (***) delivered freight and CPU freight rates will be reviewed (***) and adjusted (***). 

If Purchaser wishes to change or add to the Delivery Locations, the parties shall negotiate and agree on applicable freight costs and fuel surcharges applicable to any revised or added Delivery Location. 

Supplier reserves the right to recalculate the freight component of the Goods Price if Purchaser relocates the Delivery Locations for substantial quantities of Goods or establishes new delivery locations.

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	Payment Terms:
	Purchaser shall pay Supplier for Goods hereunder, net (***) days from shipment date for (***); and net (***) days from shipment date for (***); and (***) (net (***) days) from shipment date for (***).

	(***)
	(***)

                                                                                                                                                                                                 

	(***)
	(***)

                                                                                                                                                      

	(***)
	(***)

                                                                                                                                                      

                                                                                                                                                      

	Warehousing/Storage:
	To the extent that the Supplier needs to warehouse Goods at a third party facility, the Supplier will bear all cost.  

	(***)
	(***)

                                                                                                                                                      

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	Competitive Technology:
	Supplier and Purchaser agree that it is of primary importance to Purchaser and Supplier to remain competitive in their respective industries. Should new technology become available to Supplier during the Term that would enable Supplier to pass along to Purchaser a significant competitive advantage in the relevant industry, as long as Supplier's access to such technology is not restricted by law or otherwise contractually restricted, Supplier shall advise Purchaser, or Purchaser shall advise Supplier, of such technology and the parties shall discuss the possibility of implementation of such technology, including issues relating to timing of implementation, cost sharing and cost savings. (***)

	Inventory Management

	Supplier must ensure that at all times it will manufacture sufficient stocks of Goods to satisfy all orders which may be submitted by Purchaser in accordance with the terms and conditions of this Agreement.  Purchaser shall supply Supplier with a rolling 12 month forecast of Goods requirements to allow Supplier to reasonably plan and schedule its production resources. Such forecast shall be for planning purposes only and shall not be binding on Purchaser.  The forecast shall be refreshed the first week of every month.  Purchaser shall advise Supplier of or provide Supplier with the correct and current artwork for the Goods ordered by Purchaser. In all events, Purchaser shall be solely responsible for all forecasts and ordered Goods in respect to current copy, artwork and content.  Supplier shall ship to the Purchaser any Goods ordered by Purchaser with the most current artwork. Supplier shall manufacture and supply Goods as ordered by the Purchaser(s) and at Supplier's discretion it may manufacture Goods to build inventory to meet Purchaser's forecast needs.  Supplier shall limit forecast inventory to an amount equal to no more than (***) months expected usage based upon the immediately foregoing (***) months order submitted by Purchaser.  Any inventory build in excess of (***) months requires Purchaser's prior written approval.  If Purchaser has provided Supplier with the most current artwork and Supplier prints using out of date or incorrect artwork, Supplier shall be responsible for such Goods.

	Forecast and slow moving Inventory:

	The parties agree to work together to mitigate forecast issues and to continually improve forecast accuracy.  
Upon written agreement between the parties, Supplier may invoice Purchaser for slow moving inventories of Goods.  Should Supplier have inventory of Goods beyond (***) of the production date, Supplier may invoice Purchaser for the production of such Goods, provided that the Goods were ordered by Purchaser through forecasting or purchase orders.

	Lead Time & Minimum Run Quantity:

	Lead time and minimum run quantity is as listed in Exhibit F. Purchaser will submit release schedules weekly from each Delivery Location to Supplier's plant (***)  for releases the following week.

	Business Continuity Plan:

	If any of the Supplier plants encounter difficulties meeting Purchaser's needs for the Goods required by this Agreement, Supplier will make commercially reasonable efforts to source such Goods from other facilities of Supplier.  The obligations of Supplier in the preceding sentence shall not apply in the case of difficulties relating to Force Majeure.   Supplier will make commercially reasonable efforts to resume production at the supply facility affected by the Force Majeure event under the terms and conditions of this Agreement in a timely manner.

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	Graphics and Artwork:

	(***)   Supplier will send samples for each color on the can, which must be approved by Purchaser.

	(***) Savings:  

	The Parties will use commercially reasonable efforts to achieve costs savings and will meet and discuss on a periodic basis potential cost savings initiatives.  Any cost savings initiative that would result in a deviation from the specifications/drawings, reduce quality or similarly impact Supplier's ability to meet all terms and conditions of this Agreement must be approved in writing by Purchaser.
(***)

	(***)

	The parties agree that as of (***), there will be a (***) each year during the Term, (***) with respect to purchases of (***)

	Force Majeure:

	Neither party will be liable for any delay or failure to perform hereunder (other than obligations of payment) to the extent caused by natural disaster, fire, explosion, war, terrorism, government actions, or other circumstances beyond its reasonable control and without its fault or negligence.  The affected party will immediately notify the other party and must use reasonable commercial efforts to resume performance (***)

	Dunnage Return Program:

	Pallets, tier sheets and top frames (collectively "dunnage") are the property of Supplier. Dunnage will not be charged to Purchaser and Supplier will arrange pick up and loading of all dunnage at Supplier's own cost.  Purchaser shall return all reusable dunnage to Supplier in good condition, normal wear and tear excepted.  If dunnage is returned damaged and/or in unusable condition, Purchaser will work to correct the situation and reimburse Supplier for the cost. Supplier will supply documentation of the damage to the dunnage to Purchaser for Purchaser's approval. Dunnage cost per plastic pallet (***); per plastic divider sheet (***); and plastic top frame (***).

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	Other Terms:

	Promotional materials:
Supplier acknowledges that Purchaser stipulates that Purchaser's Direct Store Delivery (DSD) business unit does not change SAP material numbers to accommodate for changes due to promotional items and that promotional items are not reflected in Purchaser's twelve month rolling forecast, Supplier shall receive from Purchaser a written communication via e-mail from Purchaser's Manager, Packaging Logistics or centralized planning describing Purchaser's promotion campaigns (dates, location and quantities), which shall be separate from and in addition or substitution of Purchaser's twelve month rolling forecast. Purchaser's promotional notification system is called “Dr Orders”. Supplier must ensure that at all times it will manufacture sufficient stocks of Goods to satisfy all promotional orders which may be submitted by Purchaser.   Supplier shall manufacture and supply Goods as ordered by the Purchaser and shall limit forecast inventory to an amount equal to the purchase order.  In no event, however, shall Purchaser have any obligation or responsibility for any Goods that Supplier manufactures in excess of the promotional quantity stated in Purchaser's purchase order or release.
Supplier is required to submit five printed samples from each press run (promotional and new stock graphics) to Purchaser's Packaging Logistics Manager.  
Technical Services: 
Supplier shall provide a reasonable amount of the following technical services to Purchaser (***):

Seamer machine training
Seam service training
Line/seamer Audits
Can handling services at the Purchaser's plant and Purchaser's warehouse
Filtec MSEs (machine setting evaluation)
Cradle to Grave Audits (complete audit from Supplier's production to delivery to Purchaser's Delivery Location) 
Off-site Seamer Training
Lean 6-Sigma Event Participation

	Other Terms

	Supplier agrees to provide the following reports to Purchaser:

(***)

(***)

(***)

End incising table:  The current Purchaser end incising requirements showing deposit requirements by certain states are included in Exhibit G.

	
		
	GENERAL

	Attachments:

	This Schedule of Terms outlines the terms upon which Supplier agrees with Purchaser(s) to provide certain specified Goods, and is further subject to and incorporates the terms and conditions of the Attachments listed below (the “Attachments”):
Exhibit A: Terms of Business between Supplier and Purchasers
Exhibit B: Goods, Prices and Delivery Locations
Exhibit C:  Performance Specifications and Drawings 
Exhibit D: Fuel Surcharge 
Exhibit E: Current CPU rate and Supplier's locations
Exhibit F: Lead Time and Minimum Run Quantity
Exhibit G: End Incising Table

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	Confidentiality:
	Neither party will disclose the existence or any terms of this letter and Schedule of Terms to any third party except (1) to its legal, financial and accounting advisers who also agree to preserve such confidentiality,  (2) as may be required by law, or (3) with the other's prior written consent.

	Entire Agreement:
	This Schedule of Terms and the Exhibits/Attachments are the complete agreement of the parties, and supersede all prior communications and understandings, regarding these matters.  If there is a conflict between the terms of this Schedule of Terms and the Attachments, this Schedule of Terms will control.

Each party hereby agrees to the above by having a duly authorized officer sign below and returning an executed copy to the other via facsimile at the below fax number.

	
		
	ACCEPTED AND AGREED:

Purchaser(s):
The American Bottling Company
Mott's LLP

By:/s/ Derry Hobson
Name: Derry Hobson
Title: EVP Supply Chain
Date:7-22-2013

Address for Legal Notices:
Dr Pepper Snapple Group
55 Hunter Lane
Elmsford, New York 10523
Attn: Asst. General Counsel
Fax:  914-846-2368

Address for Business Notices:
Dr Pepper Snapple Group
5301 Legacy Drive
Plano Texas 75024

Attn: Vice President, Supply Chain Procurement
Fax:  972-673-6922

	ACCEPTED AND AGREED:

Supplier:
CROWN Cork & Seal USA, Inc.

By:/s/ Timothy J Lorge
Name: Timothy J. Lorge
Title: VP of Sales & Marketing
Date:7-19-2013

Address for Legal Notices:
CROWN Cork & Seal USA, Inc.
One Crown Way
Philadelphia, PA19154-4599
Fax: 215-698-6061
Attn: General Counsel

Address for Business Notices:
CROWN Cork & Seal USA, Inc.
One Crown Way
Philadelphia, PA19154-4599
Fax: 215-856-5568
Attn: Timothy Lorge, VP Sales and Marketing, Crown Beverage Packaging USA

        

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Exhibit A: 
TERMS OF BUSINESS
(GOODS)

INTRODUCTION.

In addition to these Terms of Business, we may evidence additional aspects of our relationship with you in the form of a Schedule of Terms, exhibits, attachments or similar documents executed by both parties.  For ease of reference, such documents shall be referred to as “Schedules” and shall be expressly incorporated into these Terms of Business and shall be construed with and as an integral part of the Agreement to the same extent as if the same had been set forth verbatim herein.  These Terms of Business and any Schedules thereto set forth the agreement (the “Agreement”) between the Purchaser and you regarding the provision of the applicable Goods under each such Schedule.  Each such Schedule shall specify the applicable Purchaser, Supplier, Term, Specifications, Prices, Fees, Expenses, Payment Terms and, if applicable, Pricing Adjustments, Deliverables, Specifications, Quantities, Delivery Locations and certain other terms and conditions regarding the Goods under such Schedule.  The obligations of the Purchasers shall be several and not joint.
    
These Terms of Business are signed in consideration of the mutual agreements herein and other consideration, the receipt and adequacy of which is hereby acknowledged, and with the understanding that the undersigned companies are bound by their terms.  

As used in these Terms of Business, “we”, “our”, “us” (and like terms) refers to Purchaser.  “You”, “yours” means you, the Supplier.   

PURCHASERS.  The applicable Purchasers are set forth in the Schedule (“Purchaser(s)”).  In addition to its own orders, a Purchaser may submit orders for Goods on behalf of co-packers and all terms and conditions of this Agreement will apply.   Each Purchaser's obligations, liabilities and rights are its own severally and not the joint obligations, liabilities or rights of any other Purchaser, Purchaser company or other party.

SUPPLIER.  The applicable Supplier is set forth in the Schedule.  

GOODS.  You agree to provide Purchaser with the Goods in compliance with the Specifications, in the Quantities and for the Prices specified under a Schedule or if not specified in a Schedule, then in accordance with the terms herein.  

TERM.  The term of each Schedule (the “Term”) will begin on the Effective Date and run through the End Date as specified for the Term of that Schedule, unless renewed or earlier terminated as provided hereunder.  So long as any Schedule remains in effect, this Agreement shall remain in effect with respect to such Schedule.  

QUANTITIES.  Unless expressly specified in any Schedule, Purchaser will have no obligation to order, purchase or use any quantity of Goods, except for those quantities ordered in its written purchase order or in the applicable Schedule or, in the case of a blanket purchase order, releases issued thereunder and not the entirety of the blanket purchase order.

SUBCONTRACTORS.  You may not subcontract the manufacturing of Goods unless otherwise specified in the Agreement or with our prior written approval.  We specifically acknowledge that your wholly-owned subsidiaries may manufacture Goods or components thereof as part of your performance of this Agreement.  Notwithstanding the foregoing and regardless of whether subcontracting was specified or otherwise approved, including if we pay directly for such Goods, you remain fully responsible for the payment and performance of all of your subcontractors, suppliers and vendors.

PRICES FOR GOODS. The price(s) for Goods (the “Prices”) and any applicable pricing adjustments are set forth in the Schedule (the “Price”).   

PAYMENT TERMS.  Payment of invoices is due within the number of days after receipt specified in the Schedule.  Purchaser may take the percentage discount specified in the Schedule for invoices paid within the time specified.  You must invoice us promptly (***).

  

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TAXES.  If the Schedule specifies that the Prices are exclusive of taxes, we will pay those sales, use, excise or other similar taxes (excluding taxes based on your net income or business enterprise) assessed on the Prices paid hereunder.  Unless we provide you a valid exemption certificate, we will pay you those taxes you actually paid or are required to collect or pay.  Such taxes must be invoiced along with the Prices, and we will pay them, in accordance with the Payment Terms Section above.  

SPECIFICATIONS FOR GOODS.  All delivered Goods (and their packaging) must comply with any and all applicable Specifications or as we may have mutually agreed with you in the Schedule or otherwise in writing.  If no such Specifications exist for their containers, the containers must be recognized standard containers suitable for their transportation, handling and storage and sufficient to prevent any leakage, spillage or damage.  In addition, you may not modify the Goods in any way without notice to, and prior written approval from, us prior to shipment so that we may evaluate and consent to any modification of the Goods.  If we receive any modified Goods without our consent, we may return them at your expense, and you will reimburse us for all losses, damages and expenses we incur as a result of the modification.

BACKUP DOCUMENTATION. You will maintain, and upon our request, promptly provide complete and accurate backup documentation sufficient to substantiate all transactions with us and charges claimed on each invoice as well as any documentation relating to any claims made regarding the quality of the Goods.  (***).  You will otherwise cooperate with all reasonable requests in connection with such review.  You shall promptly refund to us any overcharge resulting from such review.  This Section shall survive for 12 months after the later of the last transaction between us or the expiration or termination of any applicable agreement between us.

FORECASTS.  We may, from time to time, provide you with good faith forecasts/estimates and/or blanket purchase orders for our anticipated needs for Goods.  These may be for annual and/or monthly rolling periods.  These will create no obligation or liability for Purchaser.  They are provided solely so that you can plan your production, inventory and capacity in order to supply Purchaser in the normal course of your business and in accordance with the terms herein and any Schedules.

ORDERING.  We will notify you of any and all required quantities, delivery dates (“Delivery Dates”), delivery locations, shipping instructions and other terms for Goods via our written purchase order.  This purchase order will be binding upon you unless you specifically reject it in writing. Any pre-printed terms and conditions contained in forms used by either you or us to implement this Agreement, including any purchase order, acknowledgment, invoice or other correspondence will be disregarded.  

DELIVERY OF CONFIRMING GOODS.  You agree to deliver all ordered Goods, undamaged, without substitution, and in compliance with any Purchase Order that has not been rejected, the Specifications, all warranties and other terms and conditions of this Agreement and any applicable Schedule.  

Failure to Deliver Goods.  If you fail to deliver conforming Goods or if you deliver non-conforming Goods, Purchaser may do any or all of the following: cancel shipment, reject, return or hold them for you (for full credit and at your expense and risk), and/or require replacement (but only with our written authorization (***)

Removal of Insignia/Destruction of Goods.  For any rejected, returned or unpurchased Goods, you will remove any evidence of our name, trademarks or the like before selling or otherwise disposing of them, destroy any food or beverage product not fit for human consumption, and indemnify us against any claim, loss or damage arising out of your failure to do so.

INSPECTION/ACCEPTANCE.  We may inspect Goods prior to payment or acceptance to verify compliance with the terms of this Agreement or any applicable Schedule and applicable criteria or Specifications.  Payment will not constitute acceptance thereof.  However, neither our inspection, approval or acceptance, nor lack thereof, nor anything else in this Agreement or any applicable Schedule , will relieve or limit any of your obligations and warranties under this Agreement or any applicable Schedule (including for testing, inspection, and quality control), whether or not a defect or nonconformity is apparent on examination.

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TITLE AND RISK OF LOSS OF GOODS.  Unless otherwise specified in the applicable Schedule, if you are responsible for delivery of the Goods to Purchaser's delivery location, title shall pass upon loading on the carrier at your plant and risk of loss shall pass on arrival at Purchaser's delivery location.  If Purchaser arranges pickup of the Goods at your plant, title and risk of loss shall pass upon loading the carrier at your plant.  
    
QUALITY ASSURANCE AND TECHNICAL SUPPORT FOR GOODS.  With respect to Goods, you agree (at our request and at no charge to us) to:
		
	▪
	Facility Audits.  Allow us (together with our representatives) to audit your manufacturing facilities upon reasonable advance notice and during normal business hours to verify compliance with this Agreement; provided you receive reasonable assurances of confidentiality from our representatives and reasonable advance notice.  We acknowledge that we are responsible for any unauthorized disclosure or use of your Confidential Information by our representatives.

		
	▪
	Technical Support.  Provide information and assistance to identify and resolve issues relating to the Goods, including:

		
	▪
	Technical support personnel fluent in English. 

		
	▪
	Use of laboratories in the U.S. or, as reasonably requested, where Purchaser is located. 

		
	▪
	Full cooperation with us (or independent third parties at our request) regarding product performance and regulatory issues, including in making any required disclosures to governmental agencies or the public.  

		
	▪
	Information, assistance or a plan of action within 24 hours of our request.  If you do not assist us within such period, we may (at your cost) obtain such assistance from a third party.  

		
	▪
	Recalls.  If any quality or technical difficulties with any of the Goods are discovered or the Goods otherwise fail to comply with the warranties or other provisions of this Agreement, you agree to:  

		
	▪
	Immediately cease distribution, recall and/or withdraw such Goods and their packaging from the territory or subsequent purchasers thereof, and  

(***)
		
	▪
	Senior Level Meetings.  Meet (through both parties senior management teams) to discuss opportunities for cost reduction, manufacturing issues, supplier competitiveness, raw material, delivery and freight costs and other issues.

		
	▪
	Supply Chain Improvement.  Establish and participate in supply chain improvement teams with us in order to review, optimize and reduce costs while improving efficiency of the supply chain.  

		
	▪
	Account Rep. Designate (and if necessary remove and replace) an acceptable account representative to manage our account and be available for contact all times on a 24-hour basis. 

WARRANTIES.

Each party represents and warrants to the other that:   

Authorization, etc. The execution, delivery and performance of this Agreement has been duly authorized by all necessary corporate action on its part and that this Agreement has been duly and validly executed and delivered by such party and constitutes a valid and binding agreement of such party, enforceable against such party in accordance with its terms, subject to bankruptcy laws.

Breach of Law/Agreements/Consents.  Its execution, delivery and performance of this Agreement and consummation of the transactions contemplated hereby will not (1) violate or conflict with any applicable Law; (2) conflict with or result in any breach of or constitute (with or without due notice or lapse of time or both) any material default under, or cause any acceleration of, or any maturity of, any contract or other agreement it is a party or subject to; (3) require any consent, approval, order, authorization, license or permit from, or notice, registration or filing with, any third party (including any domestic or foreign governmental, judicial or regulatory authority or entity) that it has not already obtained or will obtain prior to such transaction.

Supplier Additional Warranties.  In addition, you represent and warrant to us that: 

Goods.  You further represent and warrant that Goods, in the form and condition supplied by you and the intended use thereof:
		
	▪
	Specifications, etc.  Conform to the Specifications(***), are free from defects, and free from all liens and encumbrances when sold to us;

		
	▪
	Law. Comply with all applicable Laws; 

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	▪
	Non-Infringement.  Do not infringe, violate or misappropriate any Intellectual Property of any third party;

		
	▪
	Human Consumption.  For Goods intended for human consumption (or ingredients therefore): 

		
	▪
	Are fit for human consumption, 

		
	▪
	Fully comply with all applicable food and health Laws (including for the Delivery Location), 

		
	▪
	Are not contaminated in any way, and

		
	▪
	Do not comprise nor are derived from any genetically modified organisms or products.

		
	▪
	Bioterrorism Act.  You warrant that as applicable all of your facilities relating to any Goods shipped within or to the USA are and at all times during the Term shall remain properly registered under the U.S. Bioterrorism Preparedness and Response Act of 2002, as may be amended, and regulations pursuant to such act (the “Bioterrorism Act”), and you shall provide the applicable registration numbers of such facilities to us upon request along with evidence satisfactory to us of such registration (including, without limitation, copies of registration confirmations).  You warrant that all necessary actions for the importation of the Goods into the USA under the Bioterrorism Act shall be taken by you in the manner and time periods required by the Bioterrorism Act.  You warrant that you are in full compliance with all records maintenance requirements pursuant to the Bioterrorism Act as applicable.

Notice.  You will promptly notify us if you have knowledge of any failure to meet these warranties.

Warranty Exclusions.  In no event shall Supplier incur any liability under these warranties where such liability is directly attributable to Purchaser's violation of any instructions connected with the Goods provided to Purchaser from Supplier as attached to the Schedule including mutually agreed modifications or where the Goods are exported, in an empty or filled state, to a foreign country other than those listed in Attachment I, unless a special warranty has been specifically approved in writing by Supplier to cover such exported Goods, provided the Goods are within all Specifications including any Performance Specifications mutually agreed upon by Purchaser and Supplier which shall be attached to the Schedule and incorporated herein by reference and except to the extent Supplier has breached a warranty, caused or contributed to the liability. 

IN VIEW OF THE ABOVE EXPRESS WARRANTIES, SUPPLIER MAKES NO OTHER WARRANTY EXPRESS OR IMPLIED IN FACT OF BY LAW.

EXPORT CONTROL.  Purchaser represents that commodities of Supplier that are exported from the United States will be handled in accordance with and are subject to the U.S. Export Administration Regulations (15 C.F.R. Part 730 et seq.).  Diversion contrary to U.S. Law is prohibited.  Without limiting the foregoing, Purchaser agrees that it shall not sell, export, re-export, transfer, divert or otherwise dispose of Supplier's goods to or via, or for use in the manufacture of products outside the United States specifically or predominately destined for, Cuba, Iran, North Korea, Sudan or Syria, or to any person, firm or entity, or country or countries , for any act activity or use prohibited by the laws of the United States without obtaining prior authorization from the competent government authorities as required by those laws.

ETHICAL TRADING INITIATIVE.  We support the corporate codes of practice set forth by the Ethical Trading Initiative (“ETI”), implementing human rights, ethical labor practices, and environmental protection standards.   These are available at http://www.drpeppersnapplegroup.com/values/sustainability/ethical-sourcing/ and are incorporated herein by reference.  We conscientiously integrate these standards and commitments into the way we run our businesses globally to address such concerns.  You represent and warrant that you will review and adhere to these Ethical Trading Initiative policies in order to achieve the highest ethical and environmental standards and social responsibility in your business practices and production supplies (***)

FCPA COMPLIANCE.  Supplier agrees that it has and shall continue to comply with the United States Foreign Corrupt Practices Act (“FCPA”).  This law is found at Title 15, Section 78dd-1 of the United States Code.  In general, the FCPA makes it illegal to bribe or make a corrupt payment to a Government Official (as therein defined) for the purpose of obtaining or retaining business, directing business to any person, or securing any improper advantage.  Other countries have similar laws prohibiting bribery and corrupt payments.  In addition to the FCPA, Supplier agrees that it will comply with any controlling local law designed to prevent bribery or corrupt payments.  Supplier's failure to comply with the FCPA shall constitute grounds for immediate termination of this Agreement.

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INDEMNIFICATION.

General Indemnity.  (***).

Infringement.  (***)

Indemnification Procedures.  We will (1) promptly notify you of any Claim, (2) give you a reasonable opportunity to defend and/or settle the Claim at your own expense, and (3) not settle any Claim without your prior written consent.  You must, however, provide us with written assurance of your obligation and ability to pay such Claim (whether through insurance or otherwise).  Each party will assist the other as reasonably requested to properly and adequately defend such Claims.   Our failure or delay in providing prompt notice and assistance will not, however, affect your obligations under this Section, except to the extent you are materially prejudiced thereby.  We may also, at our expense, participate with our own counsel in the settlement or defense of the Claim.

As used in this Indemnification Section:

“Claims” means claims, demands, suits, proceedings, or actions, judgments, decrees, losses, damages, costs, penalties, fines, liabilities or expenses (including court costs, litigation expenses and attorneys' fees) incurred by or brought or recovered against us . 

“indemnify” means “indemnify, defend and hold harmless”.

“us”, “our”, “we” means and includes Purchaser and its Affiliates, and their respective agents, officers, directors, employees and representatives.

INSURANCE.  You will maintain, at your expense, during the Term and 12 months after, the following insurance: 
(***)

You must provide us with a certificate of insurance evidencing such coverage within ten (10) days of the execution of this Agreement.  We must be notified at least 30 days prior to any cancellation, non-renewal or material change to this coverage.  (***)

INTELLECTUAL PROPERTY

The intellectual property belonging to each party at the commencement of this Agreement shall remain the intellectual property of such party and to the extent that any new intellectual property is conceived by the parties during the Term of this Agreement and pursuant to this Agreement, the parties agree to meet and confer to determine ownership and license rights with respect to such intellectual property.

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FURNISHED EQUIPMENT AND MATERIALS. Any equipment or materials we furnish or specifically pay for, for your use in connection with this Agreement, will remain our sole property and must be clearly identified as such.  You may only use such equipment or materials in your performance of this Agreement.  We may remove them upon demand and you must promptly return them to us once this Agreement ends.  You are responsible for all loss or damage (normal wear and tear excepted) and must insure such equipment or materials on a replacement cost basis.  

TERMINATION.

Either party may terminate this Agreement by giving 30 days' notice to the other party, without limiting any other rights and remedies therein, if any of the following occur:
		
	▪
	The other party breaches any material term, representation, warranty or obligation hereunder, and does not cure such to the terminating party's reasonable satisfaction within 30 days after notice, or if such breach cannot be cured within such 30 day period, the other party does not commence and diligently pursue such cure within such 30 day period.

		
	▪
	The other party enters Bankruptcy. 

		
	▪
	The other party, or any transaction, transfers (or attempts to, purports to, or in effect does so transfer) any rights or obligations hereunder (or control thereof), except as expressly permitted herein.

		
	▪
	The other party (or its employee, contractor, officer or agent) has engaged in fraud, dishonesty or any other serious misconduct in the performance of this Agreement, in the terminating party's reasonable opinion.

		
	▪
	Any court, tribunal or government agency requires, directly or indirectly, any modification of this Agreement or either party's performance hereunder to the terminating party's detriment.

		
	▪
	Such party elects to terminate under any other provision herein that expressly allows it to do so.

In each case, the terminating party must notify the other party in writing including the date of termination.

Obligation to Cooperate/Transition Period.  Upon expiration of this Agreement or in the event that Purchaser properly gives notice of termination as provided herein, Supplier shall: (i) ensure that all deliverables, Work Product, Confidential Information, whether completed or in progress, and materials and rights arising therefrom that are in possession or control of Supplier or its employees, agents, contractors or subcontractors, are transferred, assigned and made available to Purchaser in a timely manner, and in no event later than (***) from the date of expiration or termination; and (ii) continue to perform under this Agreement and fulfill orders for (***), or a shorter period as Purchaser may request, after the effective date of expiration or termination of this Agreement (the “Transition Period”), so long as the volume requirements during the Transition Period are generally consistent with forecasts issued prior to the notice of breach (or, in the absence of such forecasts, historical requirements for the relevant three (3) month period).  During such Transition Period, Supplier shall continue to be responsible for the obligations set forth in this Agreement, and Purchaser will continue to pay the prices, fees, costs and expenses for Goods produced by Supplier in accordance with this Agreement. For any such fees, costs or expenses for Goods arising from third parties, Supplier shall use reasonable efforts to seek to have such reduced, cancelled or refunded.  To the extent any such approved third party costs, fees and expenses cannot be cancelled, refunded or reduced, Purchaser may require Supplier to transfer, assign or make available to Purchaser, or to authorize Supplier to deliver the Goods and/or provide the related materials to Purchaser.  Monthly or other period-based Fees for Goods will be pro-rated based on the percentage of the period completed upon the effective expiration or termination date.  The unearned pro-rata portion of any prepaid fees or prepaid costs or expenses for Goods refunded to Supplier will be repaid to Purchaser within thirty (30) days after the effective expiration or termination date.  Purchaser will accept delivery of and pay in accordance with the terms of this Agreement for any inventory of Goods produced by Supplier for Purchaser prior to the expiration of the Transition Period.

Effect of Termination.  Upon termination or expiration of this Agreement or a Schedule hereunder or any transition period, without limiting a party's remedies and damages for breach, neither party will have any further obligation or liability to the other hereunder for future performance hereof, except under those provisions surviving by the terms of this Agreement.

CONFIDENTIALITY.  

General Requirements.  Each party (and its permitted Representatives) must keep the other's Confidential Information confidential and may not use it except for the purposes of this Agreement (the "Permitted Use") nor copy, reproduce, distribute or disclose it, or allow access to it, to any third party in any manner.   In protecting the other party's Confidential Information from unauthorized access, the parties must use a level of care and effort that is, at minimum, equal to that (1) it uses to protect its own similar information, and (2)  in any event, a reasonable degree of care and effort.

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Representatives.  A party may disclose and allow access to Confidential Information to its Representatives in a secure manner, but only if the Representative needs to know that Confidential Information for the Permitted Use; and is advised of, and agrees in writing to be bound by, this Agreement's terms.  The party will, however, remain responsible for any breach of this Agreement or unauthorized disclosure by its Representatives.

Exceptions.  These restrictions will not apply to Confidential Information to the extent it is:
Ø    specifically consented to be disclosed or otherwise by the owning party in writing;
Ø    in the public domain without the receiving party's or its Representatives' fault, action or omission;
Ø    rightfully obtained on a non-confidential basis before disclosure hereunder;  
Ø    rightfully obtained on a non-confidential basis from a third party without, to the receiving party's knowledge, the third party violating any obligation to the owning party; or 
Ø    required to be disclosed by law or court order; provided that the party must:
Ø    Promptly notify the owning party in writing; 
Ø    Cooperate in the owning party seeking a protective order, confidential treatment or other appropriate
remedy; and
Ø    Furnish only the legally required portion of the Confidential Information. 

Remedies.  Each party agrees that if it breaches this Confidentiality Section, the other party would be irreparably and immediately harmed and monetary damages would not be an adequate remedy.  Therefore, the harmed party will be entitled to seek injunctive relief and/or to compel specific performance to enforce the obligations set forth herein.  This is in addition to damages and any other remedy that party may be entitled to under law or equity.  The breaching party will reimburse the other for all costs and expenses, including reasonable attorney's' fees, it incurs in enforcing the breaching party's obligations hereunder.

Return of Confidential Information.  Upon request, each party will promptly return (or destroy with the other party's consent) all copies of the other's Confidential Information in its possession or control.  However, returning and/or destroying said Confidential Information will not relieve a party's obligations under this Confidentiality Section.

Definitions.  

“Confidential Information” means any and all:
		
	•
	Of a party's (and its Affiliates') materials and information furnished to or accessed by the other party (or its Representatives) in connection with this Agreement (including, formulae, methods, know how, processes, designs, functional specifications and customer, product, employee, supplier, marketing, sales, financial, pricing, and other information concerning  business operations, practices, activities and other information) identified as, or by its nature and content should reasonably be understood as, confidential or proprietary;

		
	•
	analyses, compilations, data or other documents that either party or its Representatives prepare that contain or are based upon any Confidential Information; and

		
	•
	terms of this Agreement. 

    (in each case, whether furnished, accessed or prepared before or after this Agreement).

"Representatives" means an entity's directors, officers, employees, agents or representatives with a need to know (including attorneys, accountants, consultants and financial advisors).

Use of Name.  You may not use our name for your own advertising or other purposes without our prior review of and written consent to such use.  If we consent to such use, you may use such only in accordance with the approved manner and we may revoke such consent for any reason upon written notice to you for any continued use.  

CONFLICT OF INTEREST. Neither party's employees may receive or provide any gift (monetary or not) from or to any source (whether the party, its Affiliates or its employees) in connection with this Agreement.  Any question concerning acceptable conduct of either party's employees should be brought to the attention of the President of each party.
ADDITIONAL TERMS.  Any additional terms specified in the Schedule will apply to this Agreement and be specifically incorporated herein.

FURTHER ASSURANCES.  Each party will take, or cause to be taken, any other action that may be reasonably necessary to effect the transactions contemplated by this Agreement.

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MISCELLANEOUS. With respect to this Agreement:
(***)
		
	•
	Binding Agreement.  The parties and their successors and permitted assigns will be bound and benefited.  

		
	•
	Third Party Beneficiaries.  No one will be a third party beneficiary (except as the Indemnification Section provides).

		
	•
	Entire Agreement.  The terms of this Agreement shall be deemed accepted by Supplier at Supplier's written agreement to be bound by these terms.  This Agreement, the Schedules and any other documents expressly incorporated by reference constitute the parties' entire understanding on these matters and supersede any prior understanding or agreement.  To the extent of conflict, the provisions of the following documents will control in the following order: the Schedules, these Terms of Business and any other document (including any invoice, billing statement, confirmation, receipt, bill of lading or other similar document relating to any Goods rendered hereunder, subject to the “Ordering” section above).  This Agreement and all provisions herein may not be waived, released, discharged, abandoned, or modified in any manner except by a subsequent written instrument duly executed by the parties hereto.

		
	•
	Titles and Headings. Titles and headings to sections herein are inserted for the convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement.  

		
	•
	Definitions.

General:  The word “including” (in its various forms) means “including without limitation.”  Unless otherwise specifically indicated, the symbol “$” refers to dollars of the United States of America. 
“Affiliate” means an entity that, directly or indirectly, owns or controls, is owned or is controlled by, or is under common ownership or control with another person or entity.  As used herein, “control” means the power to direct the management or affairs of any entity, and “ownership” means the beneficial ownership of 50% or more of the voting equity securities or other equivalent voting interests of the entity. 
“Bankruptcy” means an entity (1) makes an assignment for the benefit of creditors; (2) files a voluntary petition in bankruptcy; (3) is adjudicated a bankrupt or insolvent; files any petition or answer seeking reorganization, arrangement, liquidation or similar relief; (4) or files an answer admitting the material allegations of a petition against it for any such relief; (5) dissolves, or ceases to do business; or (6) has any proceeding against it seeking reorganization, arrangement, liquidation, or similar relief not dismissed within 60 days after it begins.
“Intellectual Property” means any and all right, title, and interest in and to any and all intellectual property, proprietary and other related rights (including, but not limited to, inventions, work of authorship, patent applications, patents, trade secrets, copyrights, trademarks, trade dress and designs, industrial designs, domain names), whether registered or unregistered  (also including, where applicable, rights to enforce violations of rights of publicity or privacy and rights against piracy, plagiarism, libel, slander, defamation, unfair competition, idea misappropriation or breach of any confidentiality obligation or other contractual rights).
“Laws” means all applicable laws of the jurisdiction in which Purchaser is located or is otherwise subject including all federal, state, provincial, municipal and local laws, statutes, legislation, regulations, rules and codes. 
		
	•
	Expenses.  Except as otherwise stated, the parties will bear their own costs and expenses.  

		
	•
	Applicable Law. The laws of New York will govern construction, interpretation and enforcement of this Agreement, without regard to principles of conflict or choice of law provisions.  Each party consents to personal jurisdiction and venue in New York or Delaware federal or Delaware state courts.

		
	•
	Controlling Language.  This Agreement, the Schedules and any other documents expressly incorporated by reference shall be written and construed in the English language.  In the event of a discrepancy between the English language version of the Agreement, the Schedules and any translated versions thereof, the English language version shall govern.

		
	•
	Notices.  Notices must be in writing and either (1) hand-delivered, or sent by (2) prepaid certified mail (return receipt requested), (3) nationwide overnight courier or (4) confirmed facsimile transmission, to the attention of the officer signing the Schedule in accordance with the address and facsimile information provided on the signature page herein.  Notices will be effective upon receipt. 

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	•
	Parties' Relationship.  The parties are independent contractors, and shall not be deemed an agent, partner, co-employer, joint employer or employee of the other.  Neither party has any right or any other authority to enter into any contract or undertaking in the name of or for the account of the other or to assume or create any obligation of any kind, express or implied, on behalf of the other, nor will the acts or omissions of either party hereto create any liability for the other.  Supplier shall have exclusive control and direction of Supplier's employees engaged in performance hereunder.  Supplier assumes full responsibility for the payment of local, state, provincial and federal payroll taxes or contributions or taxes for unemployment insurance, old age pensions, worker's compensation, or other Social Security and related protection with respect to Supplier's employees engaged in the performance hereunder and agrees to comply with applicable rules and regulations promulgated under such laws.

		
	•
	Severability.  If any one or more of the provisions contained in this Agreement, in whole or in part, is for any reason held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect the validity of any remaining provision or portion thereof, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had not been contained herein.

		
	•
	Survival.  The following provisions shall survive the termination or expiration of this Agreement: Warranties, Indemnification, Insurance, Intellectual Property, Confidentiality and any other provision of this Agreement or obligation of a party which expressly or by its nature or context arises at, or is intended to continue beyond termination or expiration, will so survive.

(***)
		
	•
	Cumulative Remedies.  Except where specifically stated otherwise, a party's rights and remedies under this Agreement or at law or in equity are, to the extent permitted by law, cumulative and not exclusive of any other right or remedy now or hereafter available under this Agreement or at law or in equity.  Neither asserting a right nor employing a remedy shall preclude the concurrent assertion of any other right or employment of any other remedy.  

		
	•
	Waiver. The delay in or failure of any party hereto to enforce at any time any of the provisions of this Agreement shall in no way be construed to be a waiver of any such provision, or in any way to affect the validity of this Agreement or any part thereof or the right of any party thereafter to enforce each and every such provision.  No waiver of any breach of this Agreement shall be held to be a waiver of any other or subsequent breach.    

		
	•
	Counterparts.  This Agreement may be executed in multiple counterparts, each of which will be deemed an original, but all of which will constitute one and the same Agreement.  Signature pages from any counterpart may be appended to any other counterpart to assemble fully executed counterparts.  Counterparts of this Agreement also may be exchanged via fax, and a faxed signature will be deemed an original for all purposes.

		
	•
	UN Convention on the International Sale of Goods.  The United Nations Convention on Contracts for the International Sale of Goods is specifically excluded from application to this Agreement. 

(***)

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Each party hereby agrees to the above by having a duly authorized officer sign below and returning an executed copy to the other via facsimile at the below fax number.

                
	
		
	ACCEPTED AND AGREED:

Purchaser(s):

The American Bottling Company
Mott's LLP

(Purchaser Name)

By: /s/ Derry Hobson
Name: Derry Hobson
Title: EVP Supply Chain
Date:7-22-2013

Address for Legal Notices:
Dr Pepper Snapple Group, Inc.
55 Hunter Lane
Elmsford, NY 10523
Fax: 914-846-2368
Attn: Lisa M. Dalfonso, VP Assistant General Counsel

Address for Business Notices:
Dr Pepper Snapple Group, Inc.    
5301 Legacy Drive
Plano, TX75024
Fax:  972-673-6922
Attn:  Jason Miller, VP Supply Chain Procurement

	ACCEPTED AND AGREED:

Supplier:

CROWN Cork & Seal USA, Inc.
(Supplier Name)    

By: /s/ Timothy J. Lorge
Name: Timothy J. Lorge
Title: VP of Sales & Marketing
Date:7-19-2013

Address for Legal Notices:
CROWN Cork & Seal USA, Inc.
One Crown Way
Philadelphia, PA19154-4599
Fax: 215-698-6061
Attn: General Counsel

Address for Business Notices:
CROWN Cork & Seal USA, Inc.
One Crown Way
Philadelphia, PA19154-4599
Fax: 215-856-5568
Attn: Timothy Lorge, VP Sales and Marketing, Crown Beverage Packaging USA

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Exhibit B
Goods, Prices and Delivery Locations
(***)

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Exhibit C: 
Specifications/Drawings

DPS-GPS301:Dr Pepper Snapple Group Packaging Performance Specifications (aluminum beverage cans)
DPS-GPS302 : Dr Pepper Snapple Group Packaging Performance Specification (aluminum beverage ends)
DPS-6EP004 : Dr Pepper Snapple Group Packaging Performance Specification - Environmental Policy
DPS - GBS10 : Dr Pepper Snapple Group Packaging Performance Specification - Biological Safety of All Materials
Crown-BB-CPS-16A4DP:Crown 16oz can drawings
Crown-BB-CPS-112-A5DP: Crown 12oz can drawings
BB-CPS-8-A1DP : 202/211x307 - Crown 8oz can drawing
BZ-CPS-202-A2DP: 202 Dia Crown Large Opening End (LOE) drawing
BZ-CPS-202-A4DP: 202 Dia Crown SuperEnd SP Aluminum End
BZ-CPS-202-A1DP: 202 Dia Crown SuperEnd - Reduced Retained Tab

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Exhibit D 
Fuel Surcharge
(***)

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Exhibit D 
Freight Fuel Surcharge
(***)

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Exhibit E
Current CPU rate and Supplier's locations

(***)

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Exhibit E
Current CPU rate and Supplier's locations

(***)

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Exhibit F
Lead Time and Minimum Run Quantity
(***)
	
	
	Minimum run units are based on agreement between Supplier and Purchaser. Purchaser shall order mixed loads based on pallet quantities in order to fill a truckload. 
The truckload quantity and pallet quantity may vary for each plant or product due to weight restrictions, numbers of pallets per truckload etc.

	 

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Exhibit G
End Incising Table
(***)

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