Document:

EX-10.1

 Exhibit 10.1 
 COCA-COLA BOTTLING CO. CONSOLIDATED 
 LONG TERM RETENTION PLAN

 (ADOPTED EFFECTIVE AS OF March 5, 2014) 

 Coca-Cola Bottling Co. Consolidated 

Long Term Retention Plan 
 (Adopted Effective as of March 5, 2014) 
 Table of Contents

  

							
	 ARTICLE I DEFINITIONS
	  	 	1	  
			
	 1.1.
	 	 Account
	  	 	1	  
	 1.2.
	 	 Adjustment Date
	  	 	1	  
	 1.3.
	 	 Affiliate
	  	 	1	  
	 1.4.
	 	 Authorized Leave of Absence
	  	 	1	  
	 1.5.
	 	 Beneficiary
	  	 	1	  
	 1.6.
	 	 Board
	  	 	2	  
	 1.7.
	 	 Change in Control
	  	 	2	  
	 1.8.
	 	 Code
	  	 	3	  
	 1.9.
	 	 Committee
	  	 	3	  
	 1.10.
	 	 Company
	  	 	3	  
	 1.11.
	 	 Employee
	  	 	3	  
	 1.12.
	 	 ERISA
	  	 	4	  
	 1.13.
	 	 Investment Option
	  	 	4	  
	 1.14.
	 	 Investment Subaccount
	  	 	4	  
	 1.15.
	 	 LTRP Agreement
	  	 	4	  
	 1.16.
	 	 Net Gain (Loss) Equivalent
	  	 	4	  
	 1.17.
	 	 Participant
	  	 	4	  
	 1.18.
	 	 Participating Company
	  	 	4	  
	 1.19.
	 	 Plan
	  	 	4	  
	 1.20.
	 	 Plan Administrator
	  	 	5	  
	 1.21.
	 	 Retirement
	  	 	5	  
	 1.22.
	 	 Termination for Cause
	  	 	5	  
	 1.23.
	 	 Termination of Employment
	  	 	5	  
	 1.24.
	 	 Total Disability
	  	 	5	  
	 1.25.
	 	 Vested Percent
	  	 	5	  
		
	 ARTICLE II ELIGIBILITY AND PARTICIPATION
	  	 	6	  
			
	 2.1.
	 	 Eligibility
	  	 	6	  
	 2.2.
	 	 Participation
	  	 	6	  
		
	 ARTICLE III CONTRIBUTIONS AND BENEFITS
	  	 	6	  
			
	 3.1.
	 	 Accounts
	  	 	6	  
	 3.2.
	 	 Adjustment of Accounts
	  	 	6	  
	 3.3.
	 	 Distribution Provisions
	  	 	7	  
	 3.4.
	 	 Reemployment
	  	 	9	  
		
	 ARTICLE IV CONDITIONS
	  	 	9	  
			
	 4.1.
	 	 Suicide
	  	 	9	  
	 4.2.
	 	 Noncompetition
	  	 	9	  
	 4.3.
	 	 Forfeiture for Cause
	  	 	9	  

  
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	 ARTICLE V ADMINISTRATION OF THE PLAN
	  	 	9	  
			
	 5.1.
	 	 Powers and Duties of the Plan Administrator
	  	 	9	  
	 5.2.
	 	 Agents
	  	 	10	  
	 5.3.
	 	 Reports to the Committee
	  	 	10	  
	 5.4.
	 	 Limitations on the Plan Administrator
	  	 	10	  
	 5.5.
	 	 Benefit Elections, Procedures and Calculations
	  	 	10	  
	 5.6.
	 	 Calculation of Benefits
	  	 	10	  
	 5.7.
	 	 Instructions for Payments
	  	 	11	  
	 5.8.
	 	 Claims for Benefits
	  	 	11	  
	 5.9.
	 	 Hold Harmless
	  	 	12	  
	 5.10.
	 	 Service of Process
	  	 	12	  
		
	 ARTICLE VI DESIGNATION OF BENEFICIARIES
	  	 	12	  
			
	 6.1.
	 	 Beneficiary Designation
	  	 	12	  
	 6.2.
	 	 Failure to Designate Beneficiary
	  	 	13	  
		
	 ARTICLE VII WITHDRAWAL OF PARTICIPATING COMPANY
	  	 	13	  
			
	 7.1.
	 	 Withdrawal of Participating Company
	  	 	13	  
	 7.2.
	 	 Effect of Withdrawal
	  	 	13	  
		
	 ARTICLE VIII AMENDMENT OR TERMINATION OF THE PLAN
	  	 	13	  
			
	 8.1.
	 	 Right to Amend or Terminate Plan
	  	 	13	  
	 8.2.
	 	 Notice
	  	 	14	  
		
	 ARTICLE IX GENERAL PROVISIONS AND LIMITATIONS
	  	 	14	  
			
	 9.1.
	 	 No Right to Continued Employment
	  	 	14	  
	 9.2.
	 	 Payment on Behalf of Payee
	  	 	14	  
	 9.3.
	 	 Nonalienation
	  	 	14	  
	 9.4.
	 	 Required Information
	  	 	15	  
	 9.5.
	 	 No Trust or Funding Created
	  	 	15	  
	 9.6.
	 	 Binding Effect
	  	 	15	  
	 9.7.
	 	 Merger or Consolidation
	  	 	15	  
	 9.8.
	 	 Entire Plan
	  	 	16	  
	 9.9.
	 	 Withholding
	  	 	16	  
	 9.10.
	 	 Compliance with Section 409A of the Code
	  	 	16	  
	 9.11.
	 	 Construction
	  	 	16	  
	 9.12.
	 	 Applicable Law
	  	 	16	  

  
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 Coca-Cola Bottling Co. Consolidated 

Long Term Retention Plan 
 (Adopted Effective as of March 5, 2014) 
 PREAMBLE 

This Plan is designed to enhance the earnings and growth of each Participating Company and to be a tool for long term retention. The Plan
is designed to attract and retain key officers, to provide deferred compensation and promote a long term perspective by key officers. 
 The Plan is hereby adopted effective as of March 5, 2014. 
 ARTICLE I

 DEFINITIONS 
 Whenever used herein and capitalized, the following terms shall have the respective meanings indicated unless the context plainly requires otherwise. 

 

	1.1.	Account 

 The
separate bookkeeping account established on the books and records of a Participating Company to record a Participant’s interest under the Plan attributable to Company contributions credited to Investment Options as described in Article III of
the Plan and the Net Gain (Loss) Equivalent attributable thereto. 
  

	1.2.	Adjustment Date 

December 31st of each year, the date of a Change in Control, and any other date during the calendar year specified by the Plan
Administrator, upon or as of which Accounts are adjusted as set forth in Article III. 
  

	1.3.	Affiliate 

 Any
corporation or other entity with respect to which the Company owns directly or indirectly 100% of the corporation’s or other entity’s outstanding capital stock or other equity interest, and any other entity with respect to which the
Company owns directly or indirectly 50% or more of such entity’s outstanding capital stock or other equity interest and which the Committee designates as an Affiliate. 

 

	1.4.	Authorized Leave of Absence 

 Either (a) a leave of absence authorized by the Participating Company, in its sole and absolute discretion (the Participating Company is not required to treat different Employees comparably),
provided that the Employee returns to a Participating Company within the period specified, or (b) an absence required to be considered an Authorized Leave of Absence by applicable law. 

 

	1.5.	Beneficiary 

 The
beneficiary or beneficiaries designated by a Participant pursuant to Article VI to receive the benefits, if any, payable on behalf of the Participant under the Plan after the death of such Participant, or when there has been no such designation or
an invalid designation, the individual or entity, or the individuals or entities, who will receive such amount. 

  
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	1.6.	Board 

 The Board
of Directors of the Company. 
  

	1.7.	Change in Control  

Any of the following: 
  

	 	(a)	The acquisition or possession by any person, other than Harrison Family Interests (as defined in Paragraph (e)(1) of this Section), of beneficial ownership of shares of
the Company’s capital stock having the power to cast more than 50% of the votes in the election of the Board or to otherwise designate a majority of the members of the Board; or 

 

	 	(b)	At any time when Harrison Family Interests do not have beneficial ownership of shares of the Company’s capital stock having the power to cast more than 50% of the
votes in the election of the Board or to otherwise designate a majority of the members of the Board, the acquisition or possession by any person, other than Harrison Family Interests, of beneficial ownership of shares of the Company’s capital
stock having the power to cast both (i) more than 20% of the votes in the election of the Board and (ii) a greater percentage of the votes in the election of the Board than the shares beneficially owned by Harrison Family Interests are
then entitled to cast; or 

  

	 	(c)	The sale or other disposition of all or substantially all of the business and assets of the Company and its subsidiaries (on a consolidated basis) outside the ordinary
course of business in a single transaction or series of related transactions, other than any such sale or disposition to a person controlled, directly or indirectly, by the Company or to a person controlled, directly or indirectly, by Harrison
Family Interests that succeeds to the rights and obligations of the Company with respect to the Plan; or 

  

	 	(d)	Any merger or consolidation of the Company with another entity in which the Company is not the surviving entity and in which either (i) the surviving entity does
not succeed to the rights and obligations of the Company with respect to the Plan or (ii) after giving effect to the merger, a “Change in Control” under Subsection (a) or (b) of this Section would have occurred as defined
therein were the surviving entity deemed to be the Company for purposes of Subsections (a) and (b) of this Section (with appropriate adjustments in the references therein to “capital stock” and “the Board” to properly
reflect the voting securities and governing body of the surviving entity if it is not a corporation). 

  

	 	(e)	For purposes of this Section: 

  

	 	(1)	“Harrison Family Interests” means and includes, collectively, the lineal descendants of J. Frank Harrison, Jr. (whether by blood or adoption), any
decedent’s estate of any of the foregoing, any trust primarily for the benefit of any one or more of the foregoing, any person controlled, directly or indirectly, by any one or more of the foregoing, and any person in which any one or more of
the foregoing have a majority of the equity interests; 

  
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	 	(2)	“person” includes an entity as well as an individual, and also includes, for purposes of determining beneficial ownership, any group of persons acting in
concert to acquire or possess such beneficial ownership; 

  

	 	(3)	beneficial ownership” has the meaning ascribed to such term in Rule 13d-3 of the Securities Exchange Act of 1934; 

 

	 	(4)	“control” of a person means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such
person; and 

  

	 	(5)	“subsidiary” of the Company means any person as to which the Company, or another subsidiary of the Company, owns more than 50% of the equity interest or has
the power to elect or otherwise designate a majority of the members of its board of directors or similar governing body. 

  

	 	(f)	Notwithstanding any other provision of this Section, the revocable appointment of a proxy to vote shares of the Company’s capital stock at a particular meeting of
shareholders shall not of itself be deemed to confer upon the holder of such proxy the beneficial ownership of such shares. If any person other than Harrison Family Interests would (but for this sentence) share beneficial ownership of any shares of
the Company’s capital stock with any Harrison Family Interests, then such person shall be deemed the beneficial owner of such shares for purposes of this definition only if and to the extent such person has the power to vote or direct the
voting of such shares otherwise than as directed by Harrison Family Interests and otherwise than for the benefit of Harrison Family Interests. 

  

	1.8.	Code 

 The Internal
Revenue Code of 1986, as amended. References thereto shall include the valid and binding governmental regulations, court decisions and other regulatory and judicial authority issued or rendered thereunder. 

 

	1.9.	Committee 

 The
Compensation Committee of the Board. 
  

	1.10.	Company 

 Coca-Cola
Bottling Co. Consolidated, a Delaware corporation, and where appropriate any subsidiary thereof, or any entity which succeeds to its rights and obligations with respect to the Plan; provided, however, that for purposes of the definition of
“Board,” “Company” shall mean only Coca-Cola Bottling Co. Consolidated, a Delaware corporation, and any entity which succeeds to its rights and obligations with respect to the Plan. 

 

	1.11.	Employee 

 A person
who is a common-law employee of a Participating Company. 

  
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	1.12.	ERISA 

 The
Employee Retirement Income Security Act of 1974, as amended. References thereto shall include the valid and binding governmental regulations, court decisions and other regulatory and judicial authority issued or rendered thereunder. 

 

	1.13.	Investment Option 

An investment option designated by the Plan Administrator pursuant to Section 3.2(a). 

 

	1.14.	Investment Subaccount 

 One or more subaccounts kept as part of a Participant’s Account which are deemed to be invested in the Investment Option to which the subaccount relates, and the Net Gain (Loss) Equivalent
attributable thereto. 
  

	1.15.	LTRP Agreement 

The Agreement the Participating Company and the Participant enter into pursuant to Article II. 

 

	1.16.	Net Gain (Loss) Equivalent 

 With respect to each Adjustment Date, the dollar amount equivalent to be credited to or debited from each of the Participant’s Investment Subaccounts. The amount of the Net Gain (Loss) Equivalent of
a particular Investment Subaccount shall equal the amount of investment gain or loss which would have been experienced had the Investment Subaccount balance been invested in the Investment Option to which it relates. As of each Adjustment Date, the
Plan Administrator shall determine the Net Gain (Loss) Equivalent, taking into due account additions to and subtractions from the Investment Subaccount since the next preceding Adjustment Date. 

 

	1.17.	Participant 

 An
Employee who meets the requirements for participation in the Plan and has become a participant in the Plan, in accordance with the provisions of Article II. 
  

	1.18.	Participating Company 

 Subject to the provisions of Article VII, “Participating Company” means the Company and any Affiliate which adopts the Plan for the benefit of its selected key Employees. Each Participating
Company shall be deemed to appoint the Committee its exclusive agent to exercise on its behalf all of the power and authority conferred by the Plan upon the Company and accept the delegation to the Plan Administrator of all the power and authority
conferred upon the Plan Administrator by the Plan. The authority of the Committee to act as such agent shall continue until the Plan is terminated as to the Participating Company. The term “Participating Company” shall be construed as if
the Plan were solely the Plan of such Participating Company, unless the context plainly requires otherwise. 
  

	1.19.	Plan 

 The
Coca-Cola Bottling Co. Consolidated Long Term Retention Plan, as contained herein and as it may be amended from time to time hereafter. 

  
 4 

	1.20.	Plan Administrator 

The Executive Vice President and Assistant to the Chairman or such other person or persons designated by such individual or by the Chief
Executive Officer of the Company. 
  

	1.21.	Retirement 

 A
Participant’s Termination of Employment, other than on account of death, on or after age 60 or due to Total Disability. 
  

	1.22.	Termination for Cause 

 Termination by a Participating Company prior to a Change in Control by reason of (a) the Employee’s commission of an act of embezzlement, dishonesty, fraud, gross neglect of duties, or
disloyalty to any Participating Company, (b) the Employee’s commission of a felonious act or other crime involving moral turpitude or public scandal, (c) the Employee’s alcoholism or drug addiction, or (d) the
Employee’s improper communication of confidential information about any Participating Company or other conduct committed which the Employee knew or should have known was not in any Participating Company’s best interest. 

 

	1.23.	Termination of Employment 

 The date on which the Participant is no longer employed by any Participating Company. For purposes of this Section, a Termination of Employment occurs on the earlier of: 

 

	 	(a)	The date as of which the Employee quits, is discharged or terminates employment for any reason including due to Total Disability, Retirement or death, or

  

	 	(b)	The first day of absence of an Employee who fails to return to employment at the expiration of an Authorized Leave of Absence. 

Notwithstanding the foregoing, the term “Termination of Employment” shall be interpreted to mean a “separation from
service” as such term is used in Code Section 409A and the regulations thereunder. 
  

	1.24.	Total Disability 

A physical or mental condition under which the Participant qualifies as totally disabled under the group long-term disability plan of the
Participating Company; provided, however, that if the Participant is not covered by such plan or if there is no such plan, the Participant shall be under a Total Disability if the Participant is determined to be disabled under the Social Security
Act. Notwithstanding any other provisions of the Plan, a Participant shall not be considered Totally Disabled if such disability is due to (i) war, declared or undeclared, or any act of war, (ii) intentionally self-inflicted injuries,
(iii) active participation in a riot or (iv) the Participant’s intoxication or the Participant’s illegal use of drugs. 
  

	1.25.	Vested Percent 

The percentage of a Participant’s Account that is nonforfeitable as determined in accordance with Section 3.3(b). 

  
 5 

 ARTICLE II 
 ELIGIBILITY AND PARTICIPATION 
  

	2.1.	Eligibility 

 An
Employee (a) who is a member of the Participating Company’s “select group of management or highly compensated employees,” as defined in Sections 201(2), 301(a)(3) and 401(a) of ERISA, and (b) who is designated by the
Committee, shall be eligible to become a Participant in the Plan. 
  

	2.2.	Participation 

 An
Employee who is eligible to become a Participant shall become a Participant upon the execution and delivery to the Plan Administrator of an LTRP Agreement substantially in the form attached hereto as Exhibit A. A Participant shall continue to be a
Participant until the Participant is no longer entitled to a benefit under the Plan. 
 ARTICLE III 

CONTRIBUTIONS AND BENEFITS 
  

	3.1.	Accounts. 

  

	 	(a)	Establishment and Accounting of Accounts. An Account shall be established and maintained on the books and records of the Plan for each Participant who has an
amount credited in accordance with the provisions of this Article III. Within each Participant’s Account there shall be one or more Investment Subaccounts. As of each Adjustment Date, the Plan Administer shall debit and credit each
Participant’s Account by the following: 

  

	 	(1)	Payments. There shall be debited the amount of benefit payments made to or on behalf of the Participant or the Participant’s Beneficiary since the last
Adjustment Date. 

  

	 	(2)	Net Gain (Loss) Equivalent. There shall be credited or debited, as the case may be, the Net Gain (Loss) Equivalent since the last Adjustment Date for each of the
Participant’s Investment Subaccounts. 

  

	 	(3)	Contributions. There shall be credited the Company contributions made to the Account pursuant to Section 3.1(b) since the last Adjustment Date.

  

	 	(b)	Company Contributions. A Participant’s Account shall be credited with an initial balance equal to zero and shall be credited with a contribution equal to
the amount stated in the Participant’s LTRP Agreement as of the time stated in such agreement. 

  

	3.2.	Adjustment of Accounts. 

  

	 	(a)	 Investment Options. Subject to Subsection (c) of this Section, the Plan Administrator shall designate the Investment Options for the deemed
investment of Participant Accounts and shall have the right to eliminate and add Investment Options from time to time. A Participant may elect to have the Participant’s Account deemed to be invested in one or more of the Investment Options. If
an Investment Option is eliminated, 

  
 6 

	 	
Participants’ Investment Subaccount balances relating to such Investment Option shall be transferred to such other Investment Subaccounts as the Plan Administrator directs. All elections as
to how Company contributions are allocated among Investment Subaccounts are subject to the Plan Administrator’s approval. The Plan Administrator shall notify Participants if changes are made in the available Investment Options. The Plan
Administrator may designate an Investment Option if and to the extent a Participant fails to make a valid or approved election. 

  

	 	(b)	Deemed Investment Elections. A Participant shall specify how contributions credited to the Participant’s Account pursuant to Section 3.1(b) shall be
allocated among the Investment Options and related Investment Subaccounts. In accordance with such procedures and limitations as the Plan Administrator adopts, the Participant may change such specification with respect to contributions not yet
credited to an Investment Subaccount. Any amounts allocated to the Participant’s Account may be reallocated among the Investment Options at the election of the Participant not more frequently than once each calendar quarter. Any such request to
have one or more Investment Subaccount balances transferred to one or more other Investment Subaccounts shall be made in accordance with and shall be subject to such procedures and limitations as the Plan Administrator adopts. Notwithstanding any
contrary provision of this Subsection, all reallocations among Investment Options are subject to the trading rules, policies and procedures of the underlying mutual fund designated as an Investment Option. 

 

	 	(c)	Effect of Change in Control. From and after a Change in Control, and notwithstanding any other provision of the Plan to the contrary, (1) the Investment
Options in effect immediately prior to the Change in Control shall continue and not be eliminated, and (2) Participants shall continue to have the right to transfer their Investment Subaccount balances among the Investment Options in accordance
with the same rules and procedures as were in effect immediately prior to the Change in Control. If an Investment Option is deemed invested in a particular mutual fund or other collective investment vehicle that is liquidated or terminated after the
Change in Control or has its fundamental investment objective materially changed, then the Plan Administrator shall immediately substitute, as the deemed investment of such Investment Option, another mutual fund or other collective investment
vehicle having substantially the same investment objectives and other material characteristics as the said mutual fund or collective investment vehicle had prior to its liquidation, termination or change in investment objective.

  

	3.3.	Distribution Provisions. 

  

	 	(a)	Amount of Benefit. The amount of a Participant’s Plan benefits shall equal the amount credited to the Participant’s Account from time to time times the
Vested Percent at such time, which benefit shall become payable as provided in this Section 3.3. 

  

	 	(b)	Vested Percent. The Participant shall be 100% vested in his Account upon (i) Retirement, (ii) death while an Employee or while Totally Disabled but
prior to Termination of Employment, or (iii) a Change in Control while an Employee or while Totally Disabled but prior to Termination of Employment. Unless otherwise provided in a Participant’s LTRP Agreement, prior to the occurrence of
any of the above events, the Participant’s Vested Percent in his Account shall be determined according to the following schedule: 

  

			
	 Age
	  	 Vested Percent

		
	50 and before	  	50%
	51	  	55%
	52	  	60%
	53	  	65%
	54	  	70%
	55	  	75%
	56	  	80%
	57	  	85%
	58	  	90%
	59	  	95%
	60	  	100%

  
 7 

	 	(c)	 Timing of Distribution. Except as otherwise provided in Section 3.3(f), the vested amount of a Participant’s Account shall be paid, or
begin to be paid, as of the earlier of (1) the Participant’s Termination of Employment for any reason other than death, (2) the first day of the third month following receipt by the Plan Administrator of satisfactory proof of the
Participant’s death, or (3) the first day of the third month following a Change in Control of the Company. Payment shall be made in the form elected by the Participant in accordance with Section 3.3(d). Payment shall be deemed to be
made as of the date described in this paragraph if it is made in the same calendar quarter as such date or as of the
15th day of the third calendar month following such date,
if later. 

  

	 	(d)	Election of Payment Form. Each Participant shall elect the form of payment of the Participant’s vested Account and may elect a different form of payment to
apply in the event of the Participant’s death, Termination of Employment for any other reason or a Change in Control. Such election(s) must be filed with the Plan Administrator within 30 days following the date of the Participant’s LTRP
Agreement and may not thereafter be changed. The optional forms of payment available to the Participant are: 

  

	 	(1)	equal monthly installments over 10, 15 or 20 years, or 

  

	 	(2)	a single lump sum. 

 If a
Participant fails to make a payment election, the Participant’s Plan benefit shall be paid in equal monthly installments over 10 years. Any election made pursuant to this Section 3.3(d) shall be irrevocable 30 days following the date of
the Participant’s LTRP Agreement. 
  

	 	(e)	Death Benefit After Installment Payments Begin. If a Participant who is receiving monthly installments dies before the last monthly installment is paid, then the
remaining monthly installments shall be paid to the Participant’s Beneficiary as and when such monthly installments would have otherwise been paid to the Participant had the Participant not died. 

 

	 	(f)	 Code Section 409A Special Provisions. Notwithstanding the foregoing provisions of this Section 3.3, in no event (a) shall any
payment made pursuant to this Section 3.3 be made to a “specified employee” within the meaning of Code Section 409A earlier than 6 months after the date of the Participant’s Termination of Employment except in

  
 8 

	 	
connection with the Participant’s death, and (b) will a distribution be made on account of a Change in Control unless such Change in Control constitutes a permissible payment event
under Code Section 409A. 

  

	3.4.	Reemployment 

 If a
Participant has a Termination of Employment and then again becomes an Employee, such reemployment shall not affect in any way the Participant’s benefit under the Plan that accrued prior to such reemployment. Unless the Plan Administrator
otherwise decides, the Participant shall not accrue any additional benefit under the Plan on account of such reemployment. 

ARTICLE IV 

CONDITIONS 
  

	4.1.	Suicide 

Notwithstanding any provision in the Plan to the contrary, if any Participant dies as a result of suicide within 30 months of entering
into an LTRP Agreement, then the Participant’s benefits under the Plan shall be forfeited, and no benefit shall be paid to the Participant’s Beneficiary. 
  

	4.2.	Noncompetition 

 In
the event a Participant, during the period of the Participant’s employment and for 3 years following the Participant’s Termination of Employment, (i) directly or indirectly, engages in the same or similar line of business carried on
by any Participating Company in any territory in which any Participating Company is doing business during the period of one year preceding the Participant’s Termination of Employment, (ii) directly or indirectly, either for the
Participant’s own account or for the account of any other person or entity, hires, solicits or attempts to persuade any employee, agent or consultant of any Participating Company to terminate or alter such person’s relationship with any
Participating Company to any Participating Company’s detriment, or (iii) persuades, encourages or causes, directly or indirectly, any supplier or customer of any Participating Company, including but not limited to any supplier or customer
with whom the Participant had or has material contacts in the course of the Participant’s employment with any Participating Company, to terminate such person’s relationship with any Participating Company or divert any business from any
Participating Company, then the Participant shall forfeit any benefit to which the Participant may be entitled hereunder and within 30 days of a written request of the Company shall reimburse the Company for any benefit paid to Participant
hereunder. This Section shall not apply to any actions which occur after both a Participant’s Termination of Employment and a Change in Control. 
  

	4.3.	Forfeiture for Cause 

 Notwithstanding any provision in the Plan to the contrary, a Participant shall forfeit all rights to any benefits under the Plan if the Participant has a Termination for Cause. 

ARTICLE V 

ADMINISTRATION OF THE PLAN 
  

	5.1.	Powers and Duties of the Plan Administrator 

 The Plan Administrator shall have general responsibility for the administration of the Plan (including but not limited to complying with reporting and disclosure requirements and

  
 9 

 
establishing and maintaining Plan records). In the exercise of the Plan Administrator’s sole and absolute discretion, the Plan Administrator shall interpret the Plan’s provisions (and
all ambiguities) and, subject to the Committee’s approval, determine the eligibility of individuals for benefits. 
  

	5.2.	Agents 

 The Plan
Administrator may engage such legal counsel, certified public accountants and other advisors and service providers, who may be advisors or service providers for one or more Participating Companies, and make use of such agents and clerical or other
personnel, as it shall require or may deem advisable for purposes of the Plan. The Plan Administrator may rely upon the written opinion of any legal counsel or accountants engaged by the Plan Administrator, and may delegate to any person or persons
the Plan Administrator’s authority to perform any act hereunder, including, without limitation, those matters involving the exercise of discretion, provided that such delegation shall be subject to revocation at any time at the discretion of
the Plan Administrator. 
  

	5.3.	Reports to the Committee 

 The Plan Administrator shall report to the Committee as frequently as the Committee shall specify, with regard to the matters for which the Plan Administrator is responsible under the Plan. 

 

	5.4.	Limitations on the Plan Administrator 

 The Plan Administrator shall not be entitled to act on or decide any matter relating solely to the Plan Administrator or any of the Plan Administrator’s rights or benefits under the Plan. In the
event the Plan Administrator is unable to act in any matter by reason of the foregoing restriction, the Committee shall act on such matter. The Plan Administrator shall not receive any special compensation for serving in such capacity but shall be
reimbursed for any reasonable expenses incurred in connection therewith. Except as otherwise required by ERISA, no bond or other security shall be required of the Plan Administrator in any jurisdiction. The Plan Administrator or any agent to whom
the Plan Administrator delegates any authority, and any other person or group of persons, may serve in more than one fiduciary capacity with respect to the Plan. 
  

	5.5.	Benefit Elections, Procedures and Calculations 

 The Plan Administrator shall establish, and may alter, amend and modify from time to time, the procedures pursuant to which Participants may make their respective elections, requests and designations
under the Plan. The Plan Administrator shall also establish the election and designation forms that Participants must use for such purposes. No election, request or designation by a Participant shall be effective unless and until it has been
executed and delivered to the Plan Administrator (or the Plan Administrator’s authorized representative) and has also satisfied any other conditions or requirements that may apply to such election, request or designation under any other
applicable provision of the Plan. 
  

	5.6.	Calculation of Benefits 

 The Plan Administrator shall promulgate and establish such written rules, charts, examples and other guidelines as the Plan Administrator deems necessary or advisable in order to precisely calculate the
benefits due hereunder, and the same shall be filed with the records of the Plan Administrator and shall be binding and governing on Participants, their Beneficiaries and all other interested parties to the extent they represent a reasonable and
consistent interpretation of the benefit calculation provisions of the Plan. 

  
 10 

	5.7.	Instructions for Payments 

 All requests of or directions to any Participating Company for payment or disbursement shall be signed by the Plan Administrator or such other person or persons as the Plan Administrator may from time to
time designate in writing. This person shall cause to be kept full and accurate accounts of payments and disbursements under the Plan. 
  

	5.8.	Claims for Benefits 

  

	 	(a)	General. In the event a claimant has a claim under the Plan, such claim shall be made by the claimant’s filing a notice thereof with the Plan Administrator.
(A claimant may authorize a representative to act on the claimant’s behalf with respect to the claim.) Each such claim shall be referred to the Plan Administrator for the initial decision with respect thereto. Each claimant who has submitted a
claim to the Plan Administrator shall be afforded a reasonable opportunity to state such claimant’s position and to submit written comments, documents, records, and other information relating to the claim to the Plan Administrator for the Plan
Administrator’s consideration in rendering the Plan Administrator’s decision with respect thereto. A claimant shall also be provided, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other
information relevant to the claim. 

  

	 	(b)	Plan Administrator’s Decision. The Plan Administrator will consider the claim and make a decision and notify the claimant in writing within a reasonable
period of time but not later than 90 days after the Plan Administrator receives the claim. Under special circumstances, the Plan Administrator may take up to an additional 90 days to review the claim if the Plan Administrator determines that such an
extension is necessary due to matters beyond the Plan Administrator’s control. If this happens, the claimant will be notified before the end of the initial 90-day period of the circumstances requiring the extension and the date by which the
Plan Administrator expects to render a decision. If any part of the claim is denied, the notice will include specific reasons for the denial and specific references to the pertinent Plan provisions on which the denial is based, describe any
additional material or information necessary to file the claim properly and explain why this material or information is necessary, and describe the Plan’s review procedures, including the claimant’s right to bring a civil action under
Section 502(a) of ERISA following an adverse benefits determination on review. 

  

	 	(c)	Review of Decision. The claimant may have the denial of any part of the claim reviewed. The denial will be reviewed by the Committee. To obtain a review, the
claimant must submit a written request for review to the Committee within 90 days after the claimant receives the written decision of the Plan Administrator. The written request may include written comments, documents, records, and other information
relating to the claim. The claimant will be provided upon request and free of charge reasonable access to and copies of all documents, records, and other information relevant to the claim. 

The Committee will review the case and notify the claimant of its decision, whether favorable or unfavorable, within a reasonable period
of time, but no later than 60 days after it receives the claim. The review will take into account all comments, documents, records, and other information the claimant submits, without regard to whether such

  
 11 

 
information was submitted or considered in the initial benefit determination. Under special circumstances, the Committee may take up to an additional 60 days to review the claim if it determines
that such an extension is necessary due to matters beyond its control. If this happens, the claimant will be notified before the end of the initial 60-day period of the circumstances requiring the extension and the date by which the Committee
expects to render a decision. 
 The notification to the claimant will be in writing, specify the reasons for its decision, make
specific references to the Plan provisions on which the denial was based, and include a statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other
information relevant to the claim and a statement regarding the claimant’s right to bring a civil action under Section 502(a) of ERISA. 
 The decision of the Committee will be final and conclusive upon all persons interested therein, except to the extent otherwise provided by applicable law. 

 

	5.9.	Hold Harmless 

 To
the maximum extent permitted by law, no member of the Committee or the Plan Administrator shall be personally liable by reason of any contract or other instrument executed by the Plan Administrator or a member of the Committee or on such
member’s behalf in such member’s capacity as a member of the Committee nor for any mistake of judgment made in good faith, and each Participating Company shall indemnify and hold harmless, directly from its own assets (including the
proceeds of any insurance policy the premiums of which are paid from the Company’s own assets), the Plan Administrator and each member of the Committee and each other officer, employee, or director of any Participating Company to whom any duty
or power relating to the administration or interpretation of the Plan against any cost or expense (including counsel fees) or liability (including any sum paid in settlement of a claim with the approval of any Participating Company) arising out of
any act or omission to act in connection with the Plan unless arising out of such person’s own fraud or bad faith or such indemnification is contrary to law. 
  

	5.10.	Service of Process 

The Secretary of the Company or such other person designated by the Board shall be the agent for service of process under the Plan.

 ARTICLE VI 
 DESIGNATION OF BENEFICIARIES 
  

	6.1.	Beneficiary Designation 

 Every Participant shall file with the Plan Administrator a written designation of one or more persons as the Beneficiary who shall be entitled to receive the benefits, if any, payable under the Plan after
the Participant’s death. A Participant may from time to time revoke or change such Beneficiary designation by filing a new designation with the Plan Administrator. The last such designation received by the Plan Administrator shall be
controlling; provided, however, that no designation, or change or revocation thereof, shall be effective unless received by the Plan Administrator prior to the Participant’s death, and in no event shall it be effective as of any date prior to
such receipt. All decisions of the Plan Administrator concerning the effectiveness of any 

  
 12 

 
Beneficiary designation and the identity of any Beneficiary shall be final. If a Beneficiary dies after the death of the Participant and prior to receiving the payment(s) that would have been
made to such Beneficiary had such Beneficiary’s death not occurred, and if no contingent Beneficiary has been designated, then for the purposes of the Plan any remaining payments that would have been received by such Beneficiary shall be made
to the Beneficiary’s estate. 
  

	6.2.	Failure to Designate Beneficiary 

 If no Beneficiary designation is in effect at the time of the Participant’s death (including a situation where no designated Beneficiary is alive or in existence at the time of the Participant’s
death), the benefits, if any, payable under the Plan after the Participant’s death shall be made to the Participant’s surviving spouse, if any, or if the Participant has no surviving spouse, to the Participant’s estate. For this
purpose, “surviving spouse” means the survivor of a deceased Participant to whom such deceased Participant was legally married (as determined by the Plan Administrator) immediately before the Participant’s death. If the Plan
Administrator is in doubt as to the right of any person to receive such benefits, the Plan Administrator may direct the Participating Company to withhold payment, without liability for any interest thereon, until the rights thereto are determined,
or the Plan Administrator may direct the Participating Company to pay any such amount into any court of appropriate jurisdiction; and such payment shall be a complete discharge of the liability of the Participating Company. 

ARTICLE VII 

WITHDRAWAL OF PARTICIPATING COMPANY 
  

	7.1.	Withdrawal of Participating Company 

 A Participating Company (other than the Company) may withdraw from participation in the Plan by giving the Board prior written notice approved by resolution by its board of directors or similar governing
body specifying a withdrawal date, which shall be the last day of a month at least 30 days subsequent to the date on which notice is received by the Board. The Participating Company shall withdraw from participating in the Plan if and when it ceases
to be either a division of the Company or an Affiliate. The Committee may require the Participating Company to withdraw from the Plan, as of any withdrawal date the Committee specifies. 

 

	7.2.	Effect of Withdrawal 

 A Participating Company’s withdrawal from the Plan shall not in any way modify, reduce or otherwise affect a Participant’s Account as of the date of withdrawal. Withdrawal from the Plan by any
Participating Company shall not in any way affect any other Participating Company’s participation in the Plan. 
 ARTICLE
VIII 
 AMENDMENT OR TERMINATION OF THE PLAN 

 

	8.1.	Right to Amend or Terminate Plan 

  

	 	(a)	By the Board or the Committee. Subject to Subsection (c) of this Section, the Board or the Committee reserves the right at any time to amend or terminate
the Plan, in whole or in part, and for any reason and without the consent of any Participating Company, Participant, or Beneficiary. Each Participating Company by its participation in the Plan shall be deemed to have delegated this authority to the
Committee. 

  
 13 

	 	(b)	By the Plan Administrator. Subject to Subsection (c) of this Section, the Plan Administrator may adopt any ministerial and nonsubstantive amendment which
may be necessary or appropriate to facilitate the administration, management and interpretation of the Plan, provided the amendment does not materially affect the estimated cost to the Participating Companies of maintaining the Plan. Each
Participating Company by its participation in the Plan shall be deemed to have delegated this authority to the Plan Administrator. 

  

	 	(c)	Limitations. In no event shall an amendment or termination of the Plan modify, reduce or otherwise affect the value of Participant Accounts as of the date of the
amendment or termination. Notwithstanding the preceding provisions of this Subsection, from and after the date of a Change in Control no amendment or termination may be made to the Plan that, without the express written consent of the affected
Participant or Beneficiary (as the case may be), directly or indirectly changes the amount, time or method of payment of any benefit that had accrued by the date of the Change in Control. 

 

	8.2.	Notice 

 Notice of
any amendment or termination of the Plan shall be given by the Board or the Committee, whichever adopts the amendment, to the other and to all Participating Companies. 
 ARTICLE IX 
 GENERAL PROVISIONS AND LIMITATIONS 

 

	9.1.	No Right to Continued Employment 

 Nothing contained in the Plan shall give any Employee the right to be retained in the employment of any Participating Company or Affiliate or affect the right of any such employer to dismiss any Employee
with or without cause. The adoption and maintenance of the Plan shall not constitute a contract between any Participating Company and Employee or consideration for, or an inducement to or condition of, the employment of any Employee. Unless a
written contract of employment has been executed by a duly authorized representative of a Participating Company, such Employee is an “employee at will.” 
  

	9.2.	Payment on Behalf of Payee 

 If the Plan Administrator finds that any person to whom any amount is payable under the Plan is unable to care for such person’s affairs because of illness or accident, or is a minor, or has died,
then any payment due such person or such person’s estate (unless a prior claim therefor has been made by a duly appointed legal representative) may, if the Plan Administrator so elects, be paid to such person’s spouse, a child, a relative,
an institution maintaining or having custody of such person, or any other person deemed by the Plan Administrator to be a proper recipient on behalf of such person otherwise entitled to payment. Any such payment shall be a complete discharge of the
liability of the Plan and every Participating Company therefor. 
  

	9.3.	Nonalienation 

 No
interest, expectancy, benefit, payment, claim or right of any Participant or Beneficiary under the Plan shall be (a) subject in any manner to any claims of any creditor of the Participant or Beneficiary, (b) subject to the debts,
contracts, liabilities or torts of the Participant or Beneficiary or (c) subject to alienation by anticipation, sale, transfer, assignment, bankruptcy, pledge, 

  
 14 

 
attachment, charge or encumbrance of any kind. If any person attempts to take any action contrary to this Section, such action shall be null and void and of no effect; and the Plan Administrator
and the Participating Company shall disregard such action and shall not in any manner be bound thereby and shall suffer no liability on account of its disregard thereof. 
 If any Participant or Beneficiary hereunder becomes bankrupt or attempts to anticipate, alienate, sell, assign, pledge, encumber, or charge any right hereunder, then such right or benefit shall, in the
discretion of the Plan Administrator, cease and terminate; and in such event, the Plan Administrator may hold or apply the same or any part thereof for the benefit of the Participant or Beneficiary or the spouse, children, or other dependents of the
Participant or Beneficiary, or any of them, in such manner and in such amounts and proportions as the Plan Administrator may deem proper. 
  

	9.4.	Required Information 

 Each Participant shall file with the Plan Administrator such pertinent information concerning himself or herself, such Participant’s Beneficiary, or such other person as the Plan Administrator may
specify; and no Participant, Beneficiary, or other person shall have any rights or be entitled to any benefits under the Plan unless such information is filed by or with respect to the Participant. 

 

	9.5.	No Trust or Funding Created 

 The obligations of each Participating Company to make payments hereunder constitute a liability of such Participating Company to a Participant or Beneficiary, as the case may be. Such payments shall be
made from the general funds of the Participating Company; and the Participating Company shall not be required to establish or maintain any special or separate fund, or purchase or acquire life insurance on a Participant’s life, or otherwise to
segregate assets to assure that such payment shall be made; and neither a Participant nor a Beneficiary shall have any interest in any particular asset of the Participating Company by reason of its obligations hereunder. Nothing contained in the
Plan shall create or be construed as creating a trust of any kind or any other fiduciary relationship between any Participating Company and a Participant or any other person, it being the intention of the parties that the Plan be unfunded for tax
purposes and for Title I of ERISA. The rights and claims of a Participant or a Beneficiary to a benefit provided hereunder shall have no greater or higher status than the rights and claims of any other general, unsecured creditor of any
Participating Company; and the Plan constitutes a mere promise to make benefit payments in the future. 
  

	9.6.	Binding Effect 

Obligations incurred by any Participating Company pursuant to the Plan shall be binding upon and inure to the benefit of such
Participating Company, its successors and assigns, and the Participant and the Participant’s Beneficiary. 
  

	9.7.	Merger or Consolidation 

 In the event of a merger or a consolidation by any Participating Company with another corporation, or the acquisition of substantially all of the assets or outstanding stock of a Participating Company by
another corporation, then and in such event the obligations and responsibilities of such Participating Company under the Plan shall be assumed by any such successor or acquiring corporation; and all of the rights, privileges and benefits of the
Participants and Beneficiaries hereunder shall continue. 

  
 15 

	9.8.	Entire Plan 

 This
document, any elections provided for in the Plan, any written amendments hereto and the LTRP Agreements contain all the terms and provisions of the Plan and shall constitute the entire Plan, any other alleged terms or provisions being of no effect.

  

	9.9.	Withholding 

 Each
Participating Company shall withhold from benefit payments all taxes required by law. 
  

	9.10.	Compliance with Section 409A of the Code 

 The Plan is intended to comply with Section 409A of the Code. Notwithstanding any provision of the Plan to the contrary, the Plan shall be interpreted, operated and administered consistent with this
intent. 
  

	9.11.	Construction 

Unless otherwise indicated, all references to articles, sections and subsections shall be to the Plan as set forth in this document. The
titles of articles and the captions preceding sections and subsections have been inserted solely as a matter of convenience of reference only and are to be ignored in any construction of the provisions of the Plan. Whenever used herein, unless the
context clearly indicates otherwise, the singular shall include the plural and the plural the singular. 
  

	9.12.	Applicable Law 

The Plan shall be governed and construed in accordance with the laws of the State of Delaware, except to the extent such laws are
preempted by the laws of the United States of America. 
 IN WITNESS WHEREOF, the Company has caused this Plan to be executed
this 14th day of March, 2014. 
  

					
	COCA-COLA BOTTLING CO. CONSOLIDATED
		
	By:	 	 /s/ Umesh M. Kasbekar

		 	Officer’s Name:	 	Umesh M. Kasbekar
		 	Officer’s Title:	 	Senior VP — Administration & Planning

  
 16 

 EXHIBIT A 
 LTRP AGREEMENT 
 THIS LTRP AGREEMENT is made this      day of
            , 20    , by and between Coca-Cola Bottling Co. Consolidated (the “Company”) and
                    , an employee of the Participating Company (the “Participant”). 

WITNESSETH: 

WHEREAS, the Company has adopted the Coca-Cola Bottling Co. Consolidated Long Term Retention Plan (the “Plan”) for the purpose
of providing additional incentives to a select group of highly compensated or management employees of the Participating Company; and 
 WHEREAS, the Participant has been selected for participation in the Plan; and 

WHEREAS, this Agreement is made to evidence the Participant’s participation in the Plan and to set forth the amount the Company will
contribute to the Participant’s Account under the Plan. 
 NOW, THEREFORE, the Company and the Participant hereby agree as
follows: 
 1. Incorporation of Plan. The Plan (and all its provisions), as it now exists and as it may be amended
hereafter, is incorporated herein and made a part of this Agreement. 
 2. Definitions. When used herein, terms that are
defined in the Plan shall have the meanings given them in the Plan unless a different meaning is clearly required by the context. 
 3. Company Contributions. The Participant’s Account shall be credited with an initial balance equal to zero. As soon as administratively feasible after the end of each quarter, beginning with
the first contribution on or about                     , the Participant’s Account shall be credited with
$        . The Participant’s Account will continue to be credited with contributions and shall vest in accordance with the Schedule attached hereto and made a part hereof. 

4. Investment of Accounts. A Participant shall specify on a form or forms provided by the Plan Administrator or in such other
manner designated by the Plan Administrator, how contributions credited to the Participant’s Account shall be allocated among the available Investment Options and related Investment Subaccounts. The Participant’s Account shall be adjusted
each day that the financial markets are open to reflect the gains and losses attributable to such deemed investments. 
 5.
No Interest Created. Neither the Participant, the Participant’s Beneficiary, nor any other person claiming under the Participant shall have any interest in any assets of the Company, including policies of insurance. The Participant and
such Beneficiary shall have only the right to receive benefits under and subject to the terms and provisions of the Plan and this Agreement. 
 6. Benefits. The Participant’s benefit under the Plan shall equal the vested value of the Participant‘s Account. The vested portion of the Participant’s Account shall be payable
following the Participant’s Termination of Employment or a Change in Control of the Company as provided in the Plan. 
 7.
Benefit Elections. The Participant may make an election regarding the form of payment of the Participant’s benefit following a Termination of Employment or a Change in Control on an election form provided by the Plan Administrator. To be
effective, such elections must be filed with the Plan Administrator within 30 days following the date of this Agreement. Such elections shall become irrevocable 30 days from the date of this Agreement; no subsequent change to the election(s) is
permitted. 

  
 Exhibit A-1

 8. Noncompetition. As provided in the Plan, the Company shall have no obligation to
pay any benefits to or on behalf of the Participant if, within 3 years of Termination of Employment, the Participant competes with or becomes interested in a business which competes with any Participating Company. This provision shall not apply,
however, if the Participant’s Termination of Employment occurs after a Change in Control. 
 9. Suicide. As provided
in the Plan, the Company shall have no obligation to pay any benefits on behalf of the Participant if the Participant commits suicide within 30 months of the date of this Agreement. 

10. Governing Law. This Agreement and all rights thereunder shall be construed and enforced in accordance with the Employee
Retirement Income Security Act of 1974, as amended, and, to the extent that state law is applicable, the laws of the State of Delaware. 
 11. Notices. Whenever notices are required by the Plan, they shall be deemed given if sent by first class mail, postage prepaid, to the parties of the following addresses or at such other addressee
as may be designated in writing by the applicable party: 
 Coca-Cola Bottling Co. Consolidated 

4100 Coca-Cola Plaza 
 Charlotte, North Carolina 28211 
 Attention: Plan Administrator 

 

					
	Participant:	  	  
	  	
			
		  	  
	  	
			
		  	  
	  	

 12. Entire Agreement. This Agreement contains the entire agreement and understanding of the
Company and the Participant with respect to the matters contained herein and supersedes and replaces all prior agreements and understandings, written or oral, with respect thereto. 

13. Receipt of Plan. The Participant acknowledges the receipt of a copy of the Plan. 

IN WITNESS WHEREOF, the Company and the Participant have caused this LTRP Agreement to be executed this      day of
            , 20    . 
  

					
	COCA-COLA BOTTLING CO. CONSOLIDATED
		
	By:	 	  

		 	Officer’s Name:	 	Umesh M. Kasbekar
		 		 	Officer’s Title: Senior VP — Administration & Planning
	
	  

		 	Participant	 	

  
 Exhibit A-2

 SAMPLE SCHEDULE TO LTRP AGREEMENT 

Officer Name 
  

					
	DOB:	 		 	 12/31/1968
  

	Date Age 60:	 		 	12/31/2028

  

																															
	 Plan Year
	 	Age	 	Benefit Earned	 	 	Vesting	 	 	Vested Balance	 	 	Vested
Funding	 	 	Non-Vested
Funding	 	 	Total Annual
Funding	 	 	Total Cumulative
Funding	 
	2014	 	46	 	$	20,000.00	  	 	 	50	% 	 	$	10,000.00	  	 	$	10,000.00	  	 	$	10,000.00	  	 	$	20,000.00	  	 	$	20,000.00	  
	2015	 	46.9	 	$	40,000.00	  	 	 	50	% 	 	$	20,000.00	  	 	$	10,000.00	  	 	$	10,000.00	  	 	$	20,000.00	  	 	$	40,000.00	  
	2016	 	47.9	 	$	60,000.00	  	 	 	50	% 	 	$	30,000.00	  	 	$	10,000.00	  	 	$	10,000.00	  	 	$	20,000.00	  	 	$	60,000.00	  
	2017	 	48.9	 	$	80,000.00	  	 	 	50	% 	 	$	40,000.00	  	 	$	10,000.00	  	 	$	10,000.00	  	 	$	20,000.00	  	 	$	80,000.00	  
	2018	 	49.9	 	$	100,000.00	  	 	 	50	% 	 	$	50,000.00	  	 	$	10,000.00	  	 	$	10,000.00	  	 	$	20,000.00	  	 	$	100,000.00	  
	2019	 	50.9	 	$	120,000.00	  	 	 	55	% 	 	$	66,000.00	  	 	$	10,250.00	  	 	$	9,750.00	  	 	$	20,000.00	  	 	$	120,000.00	  
	2020	 	51.9	 	$	140,000.00	  	 	 	60	% 	 	$	84,000.00	  	 	$	11,250.00	  	 	$	8,750.00	  	 	$	20,000.00	  	 	$	140,000.00	  
	2021	 	52.9	 	$	160,000.00	  	 	 	65	% 	 	$	104,000.00	  	 	$	12,250.00	  	 	$	7,750.00	  	 	$	20,000.00	  	 	$	160,000.00	  
	2022	 	53.9	 	$	180,000.00	  	 	 	70	% 	 	$	126,000.00	  	 	$	13,250.00	  	 	$	6,750.00	  	 	$	20,000.00	  	 	$	180,000.00	  
	2023	 	54.9	 	$	200,000.00	  	 	 	75	% 	 	$	150,000.00	  	 	$	14,250.00	  	 	$	5,750.00	  	 	$	20,000.00	  	 	$	200,000.00	  
	2024	 	55.9	 	$	220,000.00	  	 	 	80	% 	 	$	176,000.00	  	 	$	15,250.00	  	 	$	4,750.00	  	 	$	20,000.00	  	 	$	220,000.00	  
	2025	 	56.9	 	$	240,000.00	  	 	 	85	% 	 	$	204,000.00	  	 	$	16,250.00	  	 	$	3,750.00	  	 	$	20,000.00	  	 	$	240,000.00	  
	2026	 	57.9	 	$	260,000.00	  	 	 	90	% 	 	$	234,000.00	  	 	$	17,250.00	  	 	$	2,750.00	  	 	$	20,000.00	  	 	$	260,000.00	  
	2027	 	58.9	 	$	280,000.00	  	 	 	95	% 	 	$	266,000.00	  	 	$	18,250.00	  	 	$	1,750.00	  	 	$	20,000.00	  	 	$	280,000.00	  
	2028	 	59.9	 	$	300,000.00	  	 	 	100	% 	 	$	300,000.00	  	 	$	19,250.00	  	 	$	750.00	  	 	$	20,000.00	  	 	$	300,000.00	  
		 		 				 				 				 	$	197,500.00	  	 	$	102,500.00	  	 	$	300,000.00	  	 			

  
 Exhibit B-1EX-10.2

 Exhibit 10.2 
 MANAGEMENT AGREEMENT 
 This Management Agreement
(“Agreement”) made and entered into this 12th day of March, 2014, by and among CCBCC Operations, LLC (“Manager”), a Delaware limited liability company and a wholly-owned entity of Coca-Cola Bottling Co. Consolidated
and South Atlantic Canners, Inc., a South Carolina corporation (“SAC”). 
 W I T N E S S E T H: 

Pursuant to a management agreement dated August 1, 1994 (the “Original Agreement”) and a management agreement dated
June 30, 2004 (the “Extended Agreement”), SAC retained the parent of Manager and the Manager, respectively, for the purpose of managing its day-to- day operations, as is more fully described in the Original Agreement and the
Extended Agreement. SAC’s Bylaws allow the SAC Board to assign some or all of the management responsibilities for SAC to a person or organization other than the officers of SAC. The parent of Manager and Manager has demonstrated managerial
expertise, knowledge of the industry, access to certain raw materials, and other capabilities, which have been beneficial to SAC and its membership. Manager is an operating entity that is engaged in, in addition to the activities subject to this
Agreement, the production and distribution of beverage products pursuant to a sub-license agreement with its parent. In connection with the conduct of its business, Manager owns significant production and distribution assets, including, but not
limited to, production equipment, warehouse equipment, delivery fleet, vending machines and real estate. 
 The Original
Agreement expired by its terms on its tenth anniversary and the Extended Agreement expires by its terms on its tenth anniversary. This Agreement serves as an extension of the Original Agreement and Extended Agreement pursuant to which Manager will
supervise day-to-day operations, without material interference from the SAC Board of Directors (“SAC Board”), although the SAC Board will generally perform the typical board functions of supervising the performance of management and
establishing policy for SAC. The parties recognize, however, that the SAC Board has a legal obligation to SAC and its membership to oversee and direct the operations of SAC, and nothing contained in this Agreement shall remove from the SAC Board its
obligations or ability to direct the business and affairs of SAC. It is anticipated that a smooth working relationship will be established through the adoption each year of an annual business plan (“Annual Business Plan”), under
which Manager can perform its responsibilities as described herein. 
 The parties believe that the efficiencies to be derived
from Manager’s supervisory capabilities and the additional purchasing volume Manager (and its subsidiaries and affiliates) bring to SAC in their various capacities (including as a member) will prove to be beneficial to SAC’s membership in
general. 

 NOW, THEREFORE, in consideration of the mutual promises, obligations and
agreements contained herein, the parties hereto, intending to be legally bound, do hereby agree as follows: 

Section 1. Definitions. 
 1.01 Defined Terms. The following terms shall have the meanings set forth in the Section of this Agreement indicated below: 

 

			
	 Defined Term
	  	 Section

		
	Agreement	  	Preamble
	Annual Business Plan	  	Preamble
	Claimant	  	Section 10.03(a)
	Claim	  	Section 10.02.
	CPI	  	Section 6.01
	SAC Bank Account	  	Section 6.03(d)
	Disclosing Party	  	Section 9.04
	Effective Date	  	Section 8.01
	Environmental Manager	  	Section 3.01(c)(4)
	Environmental Laws	  	Section 3.01(c) (4) (i)
	Expansion	  	Section 3.01(c)(3)
	Extended Agreement	  	Preamble
	Facility	  	Section 2.01
	FICA	  	Section 3.02
	FUTA	  	Section 3.02
	Indemnitee	  	Section 10.02
	Losses	  	Section 10.02
	Manager	  	Preamble
	Manager’s Corporate Offices	  	Section 3.01
	Manager Employee (s)	  	Section 3.01(c)(2)
	Management Fee	  	Section 6-01
	Notified Party	  	Section 10.03(a)
	On Site Employees	  	Section 6.02(c)(1)
	Original Agreement	  	Preamble
	Physical Case	  	Section 6.01
	Proposed Budget	  	Section 3.01(a)(2)
	Receiving Party	  	Section 9.04
	Reimbursable Expenses	  	Section 6.02
	Rules	  	Section 10.02
	SAC	  	Preamble
	SAC Board	  	Preamble
	SAC Business	  	Section 2.01
	SAC Employee(s)	  	Section 3.01(c)(2)
	SAC Executive Committee	  	Section 3.01(a)(5)
	 Summary of Major Operational and Business Items
	  	Section 3.01(a)(2)
	Term	  	Section 8.02

  
 2 

 Section 2. Appointment of Manager. 

2.01 Appointment of and Acceptance by Manager. SAC hereby appoints and retains Manager for the purpose of managing SAC’s
canning, bottling, and other soft drink packaging operations (the “SAC Business”), effective as of the Effective Date, and authorizes Manager to supervise, direct and control the day-to-day operation of the SAC Business at 601
Cousar Street, Bishopville, South Carolina (the “Facility”) in accordance with this Agreement. In the appointment of Manager to handle day-to-day operations hereunder, both SAC and Manager understand and agree that the business and
affairs of SAC shall be under the direction and control of the SAC Board, and Manager agrees to carry out the policies and directives of the SAC Board. Manager hereby accepts this appointment and agrees to perform its duties in accordance with this
Agreement. 
 2.02 Standards of Performance. In providing services under this Agreement, Manager shall give the care and
attention to its responsibilities that a reasonable business manager in its position would be expected to give. Manager agrees to provide and employ a sufficient number of personnel with adequate training and experience to perform such duties
competently and in a businesslike manner in such a way as to cause the operations of SAC to be carried on efficiently and in the best interests of SAC. In its capacity as Manager under this Agreement, Manager shall perform its duties in good faith,
and shall loyally seek to promote the best interests of SAC. Manager shall perform in a timely and cooperative manner. 

2.03 Non-exclusive Service. It is understood and agreed that nothing in this Agreement shall confer upon SAC an exclusive right to
Manager’s service. Manager may contract with others for the provision of expertise and services similar to those to be provided to SAC as contemplated herein. 
 2.04 Services to be Performed by SAC’s Officers and Others. SAC will continue to have as corporate officers a President, a Secretary and such other officers as may be determined by the SAC
Board, who shall perform such functions as the SAC Board may assign to them. Nothing in this Agreement shall prevent SAC from obtaining services from others which are not assigned to Manager under Sections 3 and 4 of this Agreement. 

Section 3. Services and Responsibilities of Manager. 

3.01 Primary Services and Responsibilities. Within the scope of the authority granted to it under this Agreement and subject to
any limitations provided herein, Manager will undertake to manage SAC in a manner such that it may meet its operating requirements. It is agreed by SAC that Manager may perform the services and functions required of it hereunder (in whole or in
part) at Manager’s corporate offices located at 4115 Coca-Cola Plaza, Charlotte, North Carolina (“Manager’s Corporate Offices”). Manager is hereby authorized to and shall provide the following services or cause the
following services to be performed: 
 (a) Annual Business Plan. Manager will develop an Annual Business Plan, based on
its business judgment, to be adopted by the SAC Board prior to the beginning of each fiscal year, with such changes as the SAC Board deems necessary. 

  
 3 

 (1) Adoption. Manager will present the proposed plan to the SAC Board
no later than thirty (30) days prior to the beginning of SAC’s fiscal year that is the subject of such projections. 

(2) General Contents. Manager’s proposed Annual Business Plan will contain a proposed annual budget (“Proposed
Budget”), a summary of major operational and financial items (“Summary of Major Operational and Business Items”) projected for the year in sufficient detail for the SAC Board to determine the nature and extent of proposed
operations, an estimate of the Management Fee and Reimbursable Expenses SAC will be asked to pay to Manager for the year, and such other items as the SAC Board may request. 
 (3) Projections, Developments, and Anticipated Events. The Proposed Budget will contain (i) annual projections of volumes, (ii) recommended pricing based on an estimated cost-plus
margin authorized by the SAC Board, (iii) estimated operating revenues based upon pricing, (iv) required capital expenditures, (v) operating expenses and (vi) cash flow. The presentation of items will show a breakdown of each
item for each of SAC’s operating allocation units (cans, bottles, etc.). The Summary of Major Operational and Business Items will include (a) a description of proposed activities in areas for which Manager has operational responsibility under
Section 3.01(c), (b) a description of significant developments relating to the business and financial, items for which Manager has responsibility under Section 3.01(b), and (c) a description of other major operational and
business, items, if any, which Manager reasonably anticipates for the upcoming year. 
 (4) Effect of Not Adopting
Business Plan Prior to the Commencement of the Fiscal Year. If the SAC Board has not adopted an Annual Business Plan prior to the commencement of any fiscal year, Manager shall continue to provide management functions for SAC based upon the
most recently adopted Annual Business Plan, until such time as a new Annual Business Plan is adopted and takes effect for such fiscal year; provided, however, that (i) any CPI increases that will be due as part of the Management Fee under
Section 6.01 for the new fiscal year and (ii) any previously approved increase in a normal, recurring operating expense (such as, personnel compensation) since the adoption of the most recent Annual Business Plan will take effect with the
beginning of such year. 
 (5) Performance of Services Under the Annual Business Plan and Deviations Therefrom. In
performing its services under this Agreement, Manager shall follow the Annual Business Plan adopted for the fiscal year, unless otherwise directed by the SAC Board. If Manager encounters a business situation which will require it to deviate from the
Annual Business Plan or it discovers that it or SAC has inadvertently deviated from the plan, it shall immediately consult with the Executive Committee of the SAC Board (“SAC Executive Committee”) about the situation and obtain
approval for such deviation. If approval is given by the SAC Executive Committee, Manager shall be allowed to continue with such deviation until the next meeting of the SAC Board at which time the SAC Board can consider the matter. If the SAC
Executive Committee does not approve of the deviation, the matter will immediately be brought to the attention of the SAC Board. Manager shall also consult with the SAC Executive Committee upon the occurrence of an unanticipated event or
circumstance that has a material effect on the SAC Business, and seek approval of any actions that it recommends be taken in response to such new development. Notwithstanding the foregoing, Manager is 

  
 4 

 
authorized to incur expenses beyond those provided in the Annual Business Plan in order to meet the production requests of SAC members; provided, however, that such expenses shall
be in line with the budgeted per-case rate. 
 (b) Business/Finance. Manager will be responsible for accounting, tax,
treasury and internal policy auditing services in connection with the financial management of the SAC Business. 

(1) Contracts. Manager shall have the right to enter into contracts in the ordinary course of business in
accordance with the Annual Business Plan and thereby bind SAC; provided, however, that the SAC Board may set size limitations above which approval of the SAC Board is required. Any approved contracts whose terms extend beyond the current year will
be included automatically in future Annual Business Plans. 
 (2) Treasury Management. Manager will
provide necessary treasury management services for SAC including the arrangement and administration of financings (subject to SAC Board approval) and bank transactions and cash management services including receipt of and responsibility for all
income realized by SAC and disbursement of funds for satisfaction of the debts, obligations and expenses of SAC and for distributions of patronage dividends as determined by the SAC Board. 

(3) Accounting. Manager will maintain accounting systems and records for SAC which shall be sufficiently
separate from Manager’s other accounts for the SAC Board to have full access to its accounts without raising questions about the confidentiality of Manager’s files. Manager shall provide the following functions or prepare the following
reports: 
 (i) Accounts receivable, credit and collections including credit approval, billing, collection and
cash application, as necessary. 
 (ii) Accounts payable functions including check writing and accounting for
paid expense and capital items. 
 (iii) General accounting functions including maintenance of general ledger and
monthly financial reporting to the SAC Board. 
 (iv) Fixed asset record maintenance and accounting. 

(v) Annual budgets. 
 (vi) Monthly reports to the SAC Board (i) comparing actual operating and capital expenditures to those budgeted and set forth in the Annual Business Plan, (ii) detailing significant management
actions taken by Manager, and (iii) such other matters as the SAC Board may request. 
 (4)
Taxes. Manager shall handle the federal, state and local tax reporting and filing as well as the implementation of tax planning strategies relating to federal, state 

  
 5 

 
and local taxes and user fees. Manager will also handle any required tax audits and maintain all Department of Transportation files and furnish copies of federal income tax returns to the SAC
Executive Committee prior to the filing of such returns. 
 (5) Internal Policy Audit. Manager will
provide internal auditing services for monitoring compliance with SAC policies and procedures as Manager deems necessary. 

(c) Operations. The major operational responsibilities of Manager shall be in the areas of Manufacturing and Purchasing; Human
Resources; Fleet, Transportation and Facility Administration; Environmental Services; Data Processing and Risk Management as follows: 
 (1) Manufacturing and Purchasing. Manager will oversee the manufacturing of products which meet franchise company specifications and will deliver all products within reasonable age standards
as established by the SAC Board. The initial product age and quality standards to be met by Manager are described in Exhibit A hereto. Manager will select and negotiate with vendors and purchase or, if in the best interest of SAC,
lease on SAC’s behalf all capital equipment from such vendors. If Manager selects itself as a vendor or lessor to SAC under this paragraph (or handles procurement through an entity in which Manager or its parent or subsidiaries or affiliates,
own an equity interest), this arrangement must be disclosed to and approved by the SAC Board. Manager will, on behalf of SAC, procure all raw materials, supplies, utilities and services which are required for or incidental to, the operations of the
SAC Business and may do so through such procurement channels and entities as it deems advisable. Manager will use its best efforts to make such procurement on a basis similar to that which is available to Manager; provided, however, that both
Manager and SAC hereby acknowledge that differences may arise with respect to procurement channels, prices of concentrates and syrup or as a result of different specifications, sources of supply and freight costs. 

(2) Human Resources. 

(i) Manager shall have responsibility for supervising employees of SAC (“SAC Employees”) and any
employees of Manager (or of Manager’s subsidiaries or affiliates performing services hereunder) providing services for SAC (“Manager Employees”) under this Agreement. All such management and supervision by Manager for personnel
at the Facility shall be within the parameters established in the Annual Business Plan. Manager shall provide overall pay and benefit administration for SAC Employees (if any) and Manager Employees in accordance with the Annual Business Plan. Any
necessary labor contract negotiations will be performed by Manager, and Manager will handle the administration of any labor contract (including grievance procedures and arbitration) and any labor relations disputes or other labor matters, and the
SAC Board will be advised thereof. Manager will have the authority and responsibility to enter into, amend or terminate any personnel agreements and consulting and agency agreements relating to SAC; provided, however, that the SAC Board shall
determine who shall perform professional accounting and legal 

  
 6 

 
services for SAC and set the terms for their employment. To the extent permitted by the Annual Business Plan or otherwise approved by the SAC Board, Manager may supplement SAC with additional
Manager Employees. For such purpose, Manager may utilize its employees or employees of a wholly owned subsidiary or affiliate of Manager which have adequate training and experience to perform their duties competently and in a businesslike manner.
Manager shall have the authority to select, retain and dismiss all personnel performing services for SAC, whether they be SAC Employees or Manager Employees. Manager shall also have the right to substitute personnel for a Manager Employee whenever
Manager deems such substitution appropriate. Each Manager Employee and SAC Employee shall be subject to all of Manager’s applicable personnel policies and practices (unless otherwise restricted by union contracts), and SAC shall not have the
right to subject any Manager Employees or SAC Employees to any additional employment policies or practices or other work related rules or regulations (except rules and regulations reasonably related to the health and safety of such personnel or
required under applicable law) absent Manager’s express consent to such action which shall not be unreasonably withheld. Manager shall provide substantially the same job-related education and training to Manager Employees and SAC Employees as
Manager provides to its other personnel who perform the same or related tasks, and SAC shall reimburse Manager for the cost of the job related education and training provided by third parties to SAC Employees and On Site Employees of Manager (as
hereinafter defined). Manager shall compensate Manager Employees in accordance with Manager’s standard compensation policies and practices for personnel who perform the same or related tasks, subject to regional pay differences. Manager
Employees shall be provided with personnel benefits no more favorable as a whole than those provided to Manager’s other personnel performing the same or related tasks in addition to workers’ compensation, unemployment compensation and all
other benefits required to be provided for its personnel under applicable law. Manager will adopt and enforce Manager’s Code of Business Conduct at the Facility. 

(ii) In the event this Agreement is terminated or expires (without extension), all Manager Employees employed at the
Facility at such time shall have the opportunity to be considered for employment by SAC as SAC Employees. SAC shall be entitled to approach all such persons and discuss future employment with SAC, and Manager shall not attempt to retain or continue
such persons in its employment until they have first rejected an offer of employment with SAC or otherwise been informed by SAC that they will not be offered employment. 

(3) Fleet, Transportation and Facility Administration. Manager will provide overall administration of fleet
activities including assessment of required fleet expansion or replacement, acquisition of required equipment and direction of preventative maintenance programs in accordance with the Annual Business Plan. Manager will be responsible for the
administration of all transportation activities including the receipt of raw materials by or on behalf of SAC and the delivery of full goods to SAC members. Manager will also provide for the administration of all facility activities including
preventive and corrective maintenance and expansion. 

  
 7 

 (4) Environmental Services. Manager shall provide
environmental management services sufficient to determine whether SAC operations at the Facility are in compliance with the requirements of applicable environmental laws, regulations, statutes, ordinances and permit conditions
(“Environmental Laws”). Any known or suspected exceptions to environmental compliance requirements shall be reported immediately to the SAC Executive Committee, along with a recommendation for a compliance plan. 

(5) Data Processing. Manager shall utilize its computer systems to provide computer services required to
carry out its responsibilities under this Agreement. 
 (6) Risk Management. Manager shall contract
for the purchase of insurance policies on behalf of SAC at coverage levels and from carriers as determined, from time to time, by the SAC Board, based on recommendations from Manager. Such policies shall name Manager as a named insured or as an
additional insured, based upon the particulars of the insurance policy and shall require that Manager be notified at least thirty (30) days prior to any modification or cancellation of any policy. The initial policies and coverage are listed on
Exhibit G hereto. SAC agrees that it will cause its officers to execute all documents and certificates necessary to implement those policies and coverages and will take any and all actions required to keep the same in full force and
effect throughout the Term (amended, from time to time). 
 3.02 Manager’s Personnel. All Manager Employees
providing services hereunder shall be exclusively employed by Manager or its subsidiaries or affiliates, and Manager shall have the sole right to determine their conditions of service, working hours, personnel and vacation policies, seniority,
promotions and assignments. Manager shall have the exclusive right to retain and remove any such personnel and shall comply with all the laws applicable to such personnel. Subject to the provisions of Section 6 below, Manager shall be solely
responsible for the compensation of the personnel and for arranging all withholding taxes, Federal Insurance Contributions Act (“FICA”) and Federal Unemployment Tax Act (“FUTA”) taxes, unemployment, insurance,
workmen’s compensation and any other insurance and fringe benefits with respect to such personnel. 
 3.03 Accounts,
Books and Records. 
 (1) Manager shall maintain separate accounts, books, and records for SAC with respect to services
under Sections 3 and 4 of this Agreement, and these accounts, books and records shall be the property of SAC. Manager shall be responsible for maintaining SAC’s accounts, books and records in good order and shall maintain them in a way that is
sufficiently separate from Manager’s own records so that SAC may have access to such documents during regular business hours upon request without raising an issue of confidentiality with respect to Manager’s proprietary information. In the
event this Agreement is terminated for any reason or expires, Manager, shall return all of SAC’s accounts, books and records in its possession to SAC as provided in Section 8.05. 

  
 8 

 (2) Manager shall make such of Manager’s books and records that relate to the SAC
Business, including the pricing of raw materials to the extent such information relates to the SAC Business, available to independent auditors selected by the SAC Board, or such other person or persons who are mutually acceptable to the parties, as
is necessary to audit the Management Fee and Expenses charged to SAC and Manager’s compliance with its obligations under this Agreement. Such auditors or person(s) shall be bound by a confidentiality agreement not to disclose such information
to persons outside SAC or its professional advisors. SAC shall bear the costs of any independent accounting firm engaged by it for the purpose of performing the review described in this paragraph. 

3.04 Attendance at Meetings of SAC Board and SAC Executive Committee. 

(1) Manager will attend all regularly scheduled meetings of the SAC Board and all special meetings of the SAC Board at which its
attendance is requested as long as Manager has been given reasonable notice of the time and place of the special meeting. At regularly scheduled meetings of the SAC Board, Manager will present a detailed report on operations, including any
deviations from the Annual Business Plan, and Manager shall advise the SAC Board of deviations from the Annual Business Plan which it reasonably anticipates in the future. Manager shall also provide a report on any other actions taken in response to
unanticipated events or circumstances. At special meetings of the SAC Board, Manager shall provide such information with respect to the management of SAC as may be reasonably requested by the SAC Board. 

(2) It is anticipated that the SAC Executive Committee will meet from time to time, as required. If requested by the SAC Executive
Committee, Manager shall attend meetings of the SAC Executive Committee and provide a verbal report on operations and such other information as may be requested by the SAC Executive Committee. 

Section 4. Additional Services Provided by Manager. 

Manager shall also perform other management functions relating to the SAC Business as may be requested from time to time by the SAC Board
and agreed to by Manager, provided that the parties can agree upon a price for such services. If additional services are requested under this Section, Manager agrees to offer SAC a price or fees (excluding applicable taxes and transportation costs,
which shall be charged to SAC at cost) for such services which is no less favorable than those charged by Manager to other entities of a similar size and location; provided, however, that under no circumstances shall Manager charge SAC an amount
which is less than Manager’s actual cost. If SAC and Manager cannot agree on a price for additional services under this Section, SAC shall be free to obtain such services from others. 

Section 5. Board Functions. In addition to SAC Board’s general responsibilities of directing the business
and affairs of the organization and approving the Annual Business Plan, the responsibilities of the SAC Board will include, but not be limited to, supervising the performance of SAC in accordance with the Annual Business Plan, establishing capital
requirements for its members, reviewing and approving long-term business plans, approving major financial undertakings, and supervising the performance of Manager under this 

  
 9 

 
Agreement. It will be the SAC Board’s responsibility to assure that all costs are fairly allocated (as determined by the Board) to the various products produced at SAC. Product pricing and
rebates will be at the discretion of the SAC Board. 
 Section 6. SAC Payments. 

6.01 Management Fee. In consideration for the services to be provided by Manager pursuant to this Agreement, SAC shall pay
to Manager a management services fee equal to $.2327 per physical case of bottles and cans, and $.2327 per unit of post mix bag-in-a-box as described in Exhibit B hereto (each such case or unit quantity of bottles, cans, or post-mix as
described in Exhibit B being herein referred to for purposes hereof as “Physical Case/Unit”) manufactured by SAC from and after the Effective Date (the “Management Fee”). No Management Fee shall be
paid on shipments of bulk syrup. Subject to the provisions of Section 8.02, the Management Fee shall be increased effective as of the beginning of each fiscal year hereunder in accordance with the increase in the urban Wage Earners and Clerical
Workers- South-ALL Items consumer price index published by the U.S. Department of Labor (“CPI”) for the most recent twelve (12) month period for which statistics are available on January 1 of each year; provided, however
that the Management Fee shall not exceed 30c per Physical Case/Unit during the Term of this Agreement. 
 6.02
Reimbursable Expenses. With respect to payments made by Manager from Manager’s separate funds, SAC shall reimburse Manager for personnel costs incurred at the Facility and other charges for specific materials or service at the Facility as
well as third party fees as long as such costs and charges are within the ranges established in the Annual Business Plan, or otherwise approved, by the SAC Board (“Reimbursable Expenses”) 

(a) No Reimbursable Expense other than those described in the Annual Business Plan shall be payable by SAC unless such expense is
(1) less than $25,000, or (2) otherwise approved by the SAC Board or Executive Committee; provided, however, that the parties hereto recognize that ordinary operating expenses of the SAC Business paid by Manager on SAC’s behalf that
exceed amounts budgeted in the Annual Business Plan as a result of an increase in the sales volume shall be reimbursable to the extent such amounts are reasonably incurred. 
 (b) Manager shall be responsible for administrative costs it incurs to provide managerial services under this Agreement to the extent such services are not performed at the Facility. All functions
that are currently being performed by Manager’s personnel based at Manager’s Corporate Offices will not be considered to be performed at the Facility and will be covered by the Management Fee. These functions are listed in Exhibit
D. Manager may not shift functions or personnel to the Facility without approval of the SAC Board. Reimbursable Expenses will be included in the Annual Business Plan and are subject to audit at least annually at the request of SAC as
provided in Section 3.03 hereof. 
 (c) The following expenses are examples of direct expenses of SAC to be paid by
SAC as provided in the Annual Business Plan or otherwise approved by the Board of Directors. In the event Manager pays direct expenses of this type on SAC’s behalf, such expenses shall be Reimbursable Expenses to Manager, if the expenses are
within the Annual Business Plan or are approved by the SAC Board or SAC Executive Committee: 
 (1) Entity and On Site
Expenses. SAC will incur direct expenses related to its form of entity or the SAC Business in the form of fees or taxes to third parties such as federal, state and local governments. In addition, SAC (or Manager on behalf of SAC) will incur
certain expenses directly related to the routine operation of the Facility including the cost of On Site Employees of SAC or Manager. “On Site Employees” shall include all direct and indirect labor as well as management and
administrative personnel based at the Facility whether such personnel are Manager Employees or SAC Employees. Examples of such expenses are set forth on Exhibit C. 

  
 10 

 (2) Miscellaneous Expense. Other reasonable and necessary expenses directly related
to SAC’s business operations or administration thereof which are set forth on Exhibit E. 
 6.03 Payments
and Reimbursement. 
 (a) Management Fee Payments. Subject to the provisions of Section 8.01 hereof, the
Management Fee, as determined from the Annual Business Plan shall be paid to Manager in a timely manner. 
 (b) Reimbursement
of Expenses. SAC shall reimburse the Manager for all Reimbursable Expenses promptly. The Manager will provide SAC monthly with a detailed invoice for all expenses reimbursable under this Section 6.03(b). All such invoices shall be due and
payable upon receipt thereof. 
 (c) SAC Bank Account/Check Signing Authority. 

(1) The Manager will administer a separate bank account on behalf of SAC (“SAC Bank Account”) into which
sales revenue and all other monies of SAC shall be deposited and from which expenses and fees of and distributions from SAC shall be paid. The Manager shall be responsible for maintaining and administering the SAC Bank Account in accordance with
this Agreement. With the consent of the SAC Board, Manager may change the financial institution in which the SAC Back Account is held or the branch location of the account. 
 (2) Within limitations established by the SAC Board, the Manager shall be authorized to sign all checks and drafts and execute all wire transfers for disbursements in satisfaction of all debts,
obligations and expenses of SAC and the countersignature of another person shall not be required. 
 6.04 Management Fee
Distinguished from Distributions. All fees and other payments paid by SAC to Manager under this Section 6 shall be treated as expenses of SAC and not part of a patronage distribution paid to Manager by SAC. 

  
 11 

 Section 7. Obligations of SAC. 

7.01 Duties of SAC. To facilitate the performance of manager’s services, SAC agrees to provide the following: 

(a) to the extent approved by the SAC Board in the Annual Business Plan, provide or cause to be provided at no charge to Manager
sufficient secure building space, furniture, facilities and office equipment to enable Manager’s on site personnel to carry out their obligations under this Agreement; 
 (b) assist Manager in obtaining, or cause to be obtained, any permits, applications, authorizations or forms required by or from the federal, state or local governments for the specific services
areas; 
 (c) afford Manager’s personnel unlimited and unrestricted access to all areas of the Facility; 

(d) cooperate with Manager and direct all SAC personnel (if any) to extend maximum cooperation to Manager in accordance with this
Agreement; 
 (e) use its best efforts to support Manager’s requests to SAC members for their estimates of annual
volume requirements by brand and package for planning purposes each year and for use in preparing annual budgets; 
 (f)
use its best efforts to support Manager’s request to SAC members to provide product orders to Manager in a manner and within time parameters reasonably requested by Manager; and 

(g) if approved by the SAC Board, maintain a revolving line of credit or other financing sufficient in the reasonable judgment of
SAC to satisfy SAC’s working capital needs. 
 In addition, SAC agrees that it will cause the SAC Board or its designee to
consider approval of any capital expenditure requiring approval, not otherwise set forth in the Annual Business Plan, no later than fifteen (15) Business Days after receipt of written request for approval from Manager. 

Section 8. Term 
 8.01 Effective Date. This Agreement shall become effective on June 30, 2014 (the “Effective Date”), the Extended Agreement having expired by its terms. 

8.02 Duration. Unless terminated pursuant to Section 8.03 below, this Agreement shall continue in full force and effect for a
term of ten (10) years following the Effective Date (the “Term”). The parties anticipate that they will negotiate an extension of this Agreement during the tenth (10th) year of the Term but acknowledge that neither party
shall be bound by the provisions of this Agreement beyond the Term. 

  
 12 

 8.03 Early Termination. This Agreement shall terminate early as follows: 

(a) Breach by Manager. 
 (1) If at any time Manager shall default in the performance of any of its obligations under this Agreement or otherwise fails to comply in all material respects with policies and directives of the SAC
Board, and such default or breach shall continue for a period of ninety (90) days after SAC has given notice to Manager specifying such default or breach and requiring it to be remedied, then SAC shall have the right to terminate this
Agreement, provided that SAC has determined in its reasonable business judgment that an alternative manager could have met the performance requirements during the period of manager’s noncompliance, and further provided that the SAC Board
requires similar performance requirements of the management its selects to replace Manager. 
 (2) During the Term, Manager (or
its parent or its subsidiaries or affiliates) will maintain membership in SAC and a purchase agreement relationship with SAC for volume levels outlined on Exhibit F. If such membership is discontinued or such membership requirements in
SAC are not met, SAC may terminate this Agreement. If such purchase requirements for any year are not met (or if it would be clear to a reasonable business person that the same cannot or will not be met for a particular year), SAC may terminate this
Agreement. 
 (3) If the Agreement is terminated under Section 8.03(a), Manager agrees to continue to provide services
pursuant to the terms described herein for a reasonable transition period following termination by SAC, if SAC so requests. 

(b) Breach by SAC. If at any time SAC shall default in the performance of any of its material obligations under this Agreement and
such default or breach shall continue for a period of ninety (90) days after Manager has given notice to SAC specifying such default or breach and requiring it to be remedied, then Manager shall have the right to terminate this Agreement. If
the Agreement is terminated under this paragraph, Manager agrees to continue to provide services pursuant to the terms described herein for a reasonable transition period following termination by Manager, if SAC so requests. 

(c) Bankruptcy Decree. If a decree or order of a court having jurisdiction has been entered adjudicating a party bankrupt,
insolvent, or approving a petition seeking reorganization of such party under any bankruptcy act or any similar applicable law, and such decree or order has continued undischarged or unstayed for a period of sixty (60) days; or a decree or
order of court having jurisdiction for the appointment of a receiver or liquidator or trustee or assignee in bankruptcy or insolvency of such party or all or substantially all of its property, or for the winding up or liquidation of its affiliates,
has been entered, and such decree or order has remained in force undischarged or unstayed for a period of sixty (60) days, then the other party shall have the right to terminate this Agreement by giving the first mentioned party notice to that
effect within thirty (30) days after the expiration of such sixty-day period. 
 (d) Institution of Bankruptcy
Proceedings. If a party institutes proceedings to be adjudicated voluntarily bankrupt or consents to the filing of bankruptcy proceedings against it, 

  
 13 

 
or files a petition for answer or consent seeking reorganization under any bankruptcy act or similar law or consents to the filing of any petition or consents to the appointment of a receiver or
liquidator or trustee or assignee in bankruptcy or insolvency of it, or all or substantially all of its property, or makes a general assignment for the benefit of creditors or admits in writing its inability to pay its debts generally as they become
due, then the other party shall have the right to terminate this Agreement by giving the first mentioned party notice to that effect within thirty (30) days after the occurrence of such event. 

8.04 Effect of Termination. Upon the termination of this Agreement, this Agreement shall be of no further force and effect, except
that the provisions Section 8, 9, 10, and 11 shall continue in full force and effect indefinitely. Upon the termination of this Agreement, SAC shall immediately pay Manager the balance of the Management Fee accrued hereunder to the date of
termination and all reimbursable expenses payable to Manager hereunder. Upon termination or expiration of this Agreement, Manager, shall immediately return to SAC all of SAC’s accounts, books and records in Manager’s possession as well as
any other property belonging to SAC, and Manager shall remove all Manager Employees from the Facility and leave the Facility in good order, unless Manager has been requested by SAC to continue to provide services during a reasonable transition
period under Sections 8.03(a) or 8.03(b) of this Agreement, in which case Manager shall return SAC’s property and leave the premises in good order at the, end of the transition period. 

Section 9. Confidentiality. 
 9.01 Confidential Information. The parties acknowledge that each of them may be required to disclose Confidential Information to government agencies or authorities by law, upon the advice of
counsel, and each shall endeavor to limit disclosure to that purpose. Each Party will give the other prior written notice of any disclosure pursuant to this paragraph, which notice shall specify the substance of any such disclosure. 

9.02 Identification. Each party hereto will take appropriate steps to enable the other party hereto to identify the information
that should be protected as Confidential Information. Accordingly, each party shall legend or otherwise designate as proprietary any material furnished to the other party which it believes to be Confidential Information. In addition, any
Confidential Information that is imparted orally shall be identified as proprietary. Information that is not so identified shall not be considered Confidential Information. Also, information that is generally known or that has been disclosed to a
third party by the party claiming confidentiality shall not be considered Confidential Information for purposes of this Agreement. 
 9.03 Acknowledgment of Confidential Information. Each party recognizes and acknowledges (a) that Confidential Information of the other party may be commercially valuable proprietary products
of such party, the design and development of which may have involved the expenditure of substantial amounts of money and the use of skilled development experts over a long period of time and which afford such party a commercial advantage over its
competitors; (b) that the loss of this competitive advantage due to unauthorized disclosure or use of Confidential Information of such party may, cause great injury and harm to such party; (c) that the restrictions imposed upon the parties
under this Agreement are necessary to protect the secrecy of Confidential Information and to prevent the occurrence of such injury and harm. 

  
 14 

 9.04 Nondisclosure. Each party who receives Confidential Information hereunder (the
“Receiving Party”) agrees that it will not, without the prior written consent of the party from whom such Confidential Information was obtained (the “Disclosing Party”), disclose, divulge or permit any unauthorized
person to obtain any Confidential Information disclosed by the Disclosing Party (whether or not such Confidential Information is in written or tangible form) for as long as the pertinent information or data remain Confidential Information. The
Receiving Party hereby agrees to indemnify and hold harmless the Disclosing Party from and against any and all damage, loss, liability and expense (including, without limitation, reasonable expenses of investigation and reasonable attorneys’
fees and expenses) arising from any such unauthorized disclosure by the Receiving Party or its personnel. The Receiving Party agrees that it will use any Confidential Information disclosed by the Disclosing Party hereunder (whether or not such
Confidential Information is in written or tangible form) only for purposes of the business of SAC, for as long as the pertinent information or data remain Confidential Information. The Receiving Party hereby agrees to indemnify, defend and hold
harmless the Disclosing Party from and against any Loss arising from any such unauthorized disclosure by the Receiving Party or its personnel. 
 9.05 Security. To protect the Confidential Information of the parties, each party shall adopt basic security measures of the kind commonly observed in industries in the United States of America
that rely extensively on proprietary information. Security measures, to the extent appropriate, shall include physical security measures, restrictions on access by unauthorized personnel, use of confidentiality agreements with personnel, legending,
systematic segregation, and appropriate record retention systems. 
 Section 10. Manager’s Liability and
Indemnification. 
 10.01 Limitation on Liability. Manager shall not be responsible for any errors in judgment
made in good faith in the performance of its duties hereunder; provided, however, that nothing contained herein shall release Manager of any responsibility it may have for claims based on the gross negligence or willful misconduct of Manager.

 10.02 Indemnification. To the extent agents of SAC are entitled to indemnification in SAC’s Bylaws, SAC shall
indemnify and hold Manager and its parent, subsidiaries, affiliates, directors, officers, employees and agents (each an “Indemnitee”) harmless from any and all liabilities, losses, damages, suits, judgments, fines, demands and
expenses (“Losses”) arising in connection with the SAC Business (a “Claim”); provided, however, that any such Losses arising out of Manager’s material breach of this Agreement, gross negligence, fraud or
willful misconduct shall be the responsibility of Manager and Manager shall be liable to and indemnify SAC from and against any Losses incurred by SAC as a result thereof. 
 10.03 Indemnity Procedure for Third Party Claims. The obligations and liabilities of SAC to indemnify an Indemnitee or Manager to indemnify SAC, as applicable, for third party claims (including
those by Manager Employees) under this section 10 shall be subject to the following terms and conditions: 
 (a) The
person or entity (i.e., SAC, Manager or Indemnitee) making a claim (“Claimant”) will give the party from whom indemnity is sought (“Notified Party”) prompt notice of such Claim. The failure to promptly notify a
party of any such Claim shall not relieve the party of its obligation hereunder, unless the failure to so notify such party materially prejudices such party’s ability to defend such Claim. 

  
 15 

 (b) Following notice by the Claimant to the Notified Party of a Claim, the Notified
Party shall be entitled at its cost and expense to contest and defend such Claim by all appropriate legal proceedings; provided, however, that notice of the intention so to contest shall be delivered by the Notified Party to the Claimant within
thirty (30) days from the date of receipt by the Notified Party of notice from the Claimant of the assertion of such Claim. Any such contest may be conducted in the name and on behalf of the Notified Party or the Claimant, as may be
appropriate. Such contest shall be conducted diligently by reputable counsel employed by the Notified Party, but the Notified Party shall keep the Claimant fully informed with respect to such Claim and the contest thereof and the Claimant shall have
the right to engage its own counsel at its own expense. If the Claimant joins in any such contest, the Notified Party shall have full authority, in consultation with the Claimant, to determine all action to be taken with respect thereto provided,
however, that in no event shall the Notified Party have authority to agree to any relief other than the payment of money damages by the Claimant unless agreed to by the Claimant. Each party shall bear its own expense of such representation. If any
Claim is asserted and the Notified Party fails to contest and defend such Claim within a reasonable period of time, the Claimant may take such action in connection therewith as the Claimant deems necessary or desirable, including retention of
counsel, and the Claimant shall be entitled to indemnification of the costs incurred in connection with such defense. 

(c) If requested by the Notified Party, the Claimant shall cooperate with the Notified Party and its counsel, including permitting
reasonable access to books and records, in contesting any Claim which the Notified Party elects to contest or, if appropriate, in making any counterclaim against the person asserting the Claim on behalf of Claimant or Notified Party, or any
cross-complaint against any person, and the Notified Party will reimburse the Claimant for reasonable out-of-pocket costs (but not the cost of employee time expended) incurred by the Claimant in so cooperating. 

(d) The Claimant agrees to afford the Notified Party and its counsel the opportunity to be present at, and to participate in,
conferences with all persons, including governmental authorities, asserting any Claim against the Claimant or conferences with representatives or counsel for such persons. Unless the Notified Party approves in writing the settlement of a Claim, no
right to indemnification under Section 9.02 shall be established by such settlement. 
 10.04 Force Majeure. Delay
in performance or non-performance by Manager or SAC shall be excused to the extent such performance is prevented by an Act of God or other event beyond the reasonable control of the nonperforming party. 

  
 16 

 Section 11. Dispute Resolution. 

11.01 Attempts to Resolve. All disputes and differences raised by any party to this Agreement which may arise out of or in
connection with or with respect to this Agreement (including but not limited to any rights of indemnification under Section 10 hereof) will be settled as far as possible by means of negotiations between Manager and the SAC Executive Committee.
If, any such dispute is not resolved by Manager and the SAC Executive Committee within five (5) business days of commencement of negotiations, then either party may submit the dispute to arbitration in accordance with Section 11.02 of this
Agreement for a binding resolution thereof. 
 11.02 Arbitration. Except as provided in Section 11.05 hereof, any
dispute, controversy or claim arising out of or relating to this Agreement or the breach, termination or validity thereof which cannot be resolved by the parties pursuant to Section 11.01 hereof shall be settled by arbitration in accordance
with the Arbitration Rules of the American Arbitration Association in effect on the date of this Agreement (the “Rules”) as modified in this Article. The arbitration shall be held at a site mutually agreeable to the parties.

 There shall be three arbitrators of whom each party shall select one within 15 days following respondent’s receipt of
claimant’s notice of arbitration and statement of claim. The two party-appointed arbitrators shall select a third arbitrator to serve as presiding arbitrator within 15 days of the appointment of the second arbitrator. In the event one party
fails to appoint an arbitrator within said 15 day period, then the arbitrator that has been selected by the other party shall select a second arbitrator and such arbitrators shall select a third arbitrator to be the presiding arbitrator. 

11.03 Claims and Judgments. Within twenty (20) days of the respondent’s receipt of the claimant’s notice of
arbitration and statement of claim, the respondent shall serve the claimant with its statement of defense and any counterclaims. Within twenty (20) days of claimant’s receipt of the respondent’s statement of defense and counterclaims,
the claimant shall serve its statement of defense to any counterclaims or set-offs asserted by the respondent. The tribunal shall permit and facilitate such prehearing discovery and exchange of documents and information to which the parties in
writing agree or which it determines is relevant to the dispute between the parties as is appropriate taking into account the needs of the parties and the desirability of making discovery expeditious and cost-effective. All discovery shall be
completed within forty-five (45) days from the date on which the respondent communicates its statement of defense and counterclaims, if any, to the claimant. The hearing shall be held no later than ninety (90) days following the selection
of the presiding arbitrator. Any arbitration award shall be rendered in U.S. dollars, with appropriate interest as determined by the tribunal. Judgment on any award shall be entered in any court having jurisdiction thereof. 

11.04 Submission to Jurisdiction. For purposes of disputes arising under this Agreement, the parties hereto submit themselves to
the jurisdiction of the state and federal courts located in North and South Carolina with respect to the enforcement of any arbitration award. Each of the parties hereby consents to the service of process by registered mail at its address set forth
below and agrees that its submission to jurisdiction and its consent to service of process by mail is made for the express benefit of the other party. The arbitration shall be governed by the Federal Arbitration Act, 9. U.S.C. SS 116, 201-208.

  
 17 

 11.05 Right to Additional Remedies. Notwithstanding anything to the contrary in this
Article, in the event any intellectual property (including Confidential Information) is used in violation of the terms of this Agreement, each party shall be entitled, in addition to the remedy of arbitration set forth herein, to apply immediately
to any court of competent jurisdiction for immediate injunctive relief. Each party hereby submits itself to the jurisdiction of the state and federal courts located in North and South Carolina for any such relief or for the enforcement of any
arbitration award against such party. 
 Section 12. Press Release. 

The parties hereto shall attempt to consult with each other, when possible, before issuing any press release or otherwise making any
public statements with respect to this Agreement and the transactions contemplated hereby and shall not issue any such press release or make any public statement prior to such consultation, except as may be required by law. 

Section 13. Independent Status of Parties. 

Except as specifically provided herein, nothing contained in this Agreement shall be construed to constitute a party as agent for the
other party. Except as specifically provided herein, neither party shall have the right to bind the other party, transact any business in the other party’s name or on its behalf in any manner or form, or to make any promises or representations
on behalf of the other party. 
 Section 14. Assignment. 

Neither SAC nor Manager shall assign or transfer any right or obligation hereunder whether by operation of law, merger (which, for
purposes hereof, shall constitute an assignment) or otherwise without the prior written consent of the other. Any such attempted assignment or transfer in violation of this Section 14 shall be void and without legal effect. Notwithstanding the
foregoing, Manager may assign all or any of its rights and obligations hereunder to any wholly owned subsidiary (direct or indirect) of Coca-Cola Bottling Co. Consolidated; provided, however, that (a) Manager shall give SAC
written notice of such assignment, (ii) any such assignee shall execute an agreement assuming such duties and obligations and deliver the same to SAC, and (iii) Manager shall deliver to SAC a written unconditional guaranty of the
performance of the duties and obligations so assigned and assumed and (b) such rights and obligations shall revert back to Manager at such time as the assignee ceases to be a wholly owned subsidiary of Coca-Cola Bottling Co. Consolidated.
Subject to the foregoing, this Agreement shall inure to the benefit of and be binding upon, the successors and assigns of the parties hereto. 

  
 18 

 Section 15. Governing Law. 

This agreement shall be governed by and construed in accordance with the laws of the State of North Carolina, regardless of any conflicts
of laws or rules which would require, the application of the laws of another jurisdiction. 
 Section 16.
Miscellaneous. 
 16.01 Notices. Any notice, request, instruction or other document to be given hereunder by
any party hereto to any other Person shall be in writing and delivered personally or by mail or any express mail service to the addresses set forth below. 
  

	 	(a)	If to Manager: 

 CCBCC
Operations, LLC 
 4115 Coca-Cola Plaza 
 Charlotte, NC 28211 
 Attention: Chief Financial Officer 

Telecopy Number: (704) 557-4455 
 With a copy to: 
 Moore & Van Allen, PLLC 

100 North Tryon Street, Suite 4700 
 Charlotte, NC 28202 
 Attention: Hal A. Levinson 

Telecopy Number: (704) 378-2050 
  

	 	(b)	If to SAC: 

 South
Atlantic Canners, Inc. 
 601 Cousar Street 
 Bishopville, South Carolina 29010 
 Attention: Chairman, Board of Directors

 Telecopy Number: (803) 484-5841 
 16.02 Nonwaiver of Default. Any failure by either party at any time or from time to time to enforce and require the strict keeping and performance of any of the terms and conditions of this
Agreement shall not constitute a waiver of any such terms and conditions at any future time and shall not permit such party from insisting on the strict keeping and performance of such terms and conditions at any later time. 

16.03 Interpretation. Should the provisions of this Agreement require judicial or arbitral interpretation, it is agreed that the
judicial or arbitral body interpreting or construing the same shall not apply the assumption that the terms hereof shall be more strictly construed against one party by reason of the rule of construction that an instrument is to be construed more
strictly against the party which itself or through its agents prepared the same, it being agreed that the agents of both parties have participated in the preparation herein equally. 

  
 19 

 16.04 Partial Invalidity. If any portion of this Agreement is held invalid, illegal
or unenforceable and such invalidity, illegality, or unenforceability shall not have a material adverse effect with respect to the transactions contemplated herein taken as a whole, such determination shall not impair the enforceability of the
remaining terms and provisions contained herein. In such event, this Agreement shall be construed and interpreted as if such invalid, illegal or unenforceable terms were limited to the extent whereby such terms would be valid, legal and enforceable.
If such limitation is not possible, this Agreement shall be construed and interpreted as if such invalid, illegal or unenforceable terms were severed and not included herein. 
 16.05 Amendment or Rescission. This Agreement shall not be modified or rescinded except by a written instrument setting forth such modification or rescission and signed by the parties hereto.

 16.06 Duplicate Originals. For the convenience of the parties hereto, this Agreement may be executed in two
counterparts, and each such counterpart shall be deemed to be an original instrument and together constitute one and the same Agreement. 
 16.07 Captions. The captions or headings of the Sections and other subdivisions hereof are inserted only as a matter of convenience or for reference and shall have no effect on the meaning of the
provisions hereof. 
 16.08 Entirety of Agreement. This Agreement constitute the entire agreement between the parties
hereto with respect to the, subject matter hereof, and there are no agreements, understandings, covenants, conditions or undertaking, oral or written, expressed or implied, concerning such subject matter that are not merged herein. 

16.09 Plurals, Etc. As used herein or in any document which incorporates the terms hereof: 

(a) the plural form of the noun shall include the singular and the singular shall include the plural, unless the context requires
otherwise; 
 (b) each of the masculine, neuter and feminine forms of any pronoun shall include all forms unless the
context otherwise requires; and 
 (c) words of inclusion shall not be construed as terms of limitation, so that
references to included matters shall be regarded as non-exclusive, non-characterizing illustrations. 

  
 20 

 IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed on
its behalf by its duly authorized representative as the date first written above. 
  

			
	MANAGER;
	
	CCBCC Operations, LLC
		
	By:	 	 /s/ Henry W. Flint

		 	  

		
	Its:	 	 President

	
	SAC:
	
	South Atlantic Canners, Inc.
		
	By:	 	 /s/ Charles R. Ingram

		 	  

		
	Its:	 	 Chairman of the Board

  
 21 

 EXHIBIT A 

Product Age and Quality Standards 
 All product provided to members of SAC shall meet quality standards established by The Coca-Cola Company or other franchise company for which products are produced. 

Unless otherwise provided by the SAC Board, the following products shall not be shipped later than the time periods shown below:

  

			
	Sugar products in cans or glass	  	63 days
		
	Diet product in cans or glass	  	35 days
		
	Two or three liter product (whether diet or sugar)	  	35 days
		
	20 oz. PET	  	28 days

  
 A-1

 EXHIBIT B 

Physical Cases/Units 
 For purposes of this Agreement, Physical Case/Unit shall consist of the following: 
  

			
	 Type of Product
	  	 Description of Physical Case/Unit

		
	12 oz. Std. can	  	18/20/24 can case
		
	16 oz. PET bottle	  	24 bottle case
		
	10.1 oz. PET bottle	  	12 bottle case
		
	.5 liter PET bottle	  	24 bottle case
		
	20 oz. PET bottle	  	24 bottle case
		
	1 liter PET bottle	  	12 bottle case
		
	2 liter PET bottle	  	8 bottle case

  
 B-1

 EXHIBIT C 

Entity and On Site Expenses 
 SAC will incur certain specific expenses directly related to the routine operation of the SAC Business at the Facility. These expenses are as follows: 

 

	 	1.	Raw, materials, manufacturing, labor and overhead costs at the Facility. 

  

	 	2.	Payroll and benefit costs for all SAC Employees and Manager Employees at the Facility. 

 

	 	3.	Insurance - Automobile, workers compensation, general liability, product liability, D&O, crime, property, boiler. 

 

	 	4.	Utility costs. 

  

	 	5.	Security. 

  

	 	6.	Telephone. 

  

	 	7.	Manufacturing supplies. 

  

	 	8.	Building repairs. 

  

	 	9.	Employee travel and entertainment, for employees based at the Facility. 

  

	 	10.	Postage. 

  

	 	11.	Garbage removal. 

  

	 	12.	Janitorial maintenance. 

  

	 	13.	Direct rent or lease expense. 

  

	 	14.	Federal, state and local taxes related to the SAC Business and payable by SAC. 

 

	 	15.	Business licenses and entity licenses and fees (i.e., annual report, foreign qualification, franchise fee, etc.) relating to SAC or the SAC Business.

  

	 	16.	Depository bank service charges. 

  

	 	17.	Other Direct Expense line items designated as such in the Annual Business Plan which are not specifically stated herein. 

  
 C-1

 EXHIBIT D 

Administrative Services Performed by Manager 
 The following administrative services shall be performed by Manager and included in the Management Fee: 
  

	 	1.	General accounting, billing, collections, accounts payable, payroll, maintenance of fixed asset records, tax accounting and return preparation,

  

	 	2.	Negotiation of and administration of all financings purchasing of raw materials, administration of benefit plans, acquisition of insurance policies, monitoring
compliance with all relevant EPA and OSHA regulations, internal audit of policy compliance, and 

  

	 	3.	Other services now or hereafter provided by Manager at its headquarters at Manager’s Corporate Offices for Manager’s manufacturing operations.

  
 D-1

 EXHIBIT E 

Miscellaneous Expenses 
 The following expenses will constitute miscellaneous expenses under this Agreement to the extent included in the Annual Business Plan or otherwise approved by the SAC Board. 

 

	 	1.	Legal fees and external accounting/audit and tax consulting fees and other professional fees related directly to the SAC Business. 

 

	 	2.	Environmental remediation expenses, environmental manager’s out-of-pocket and other environmental personnel services paid by Manager which benefit the SAC
Business. 

  

	 	3.	Umbrella insurance paid by Manager, if any, which benefits the SAC Business. 

 

	 	4.	External training costs for SAC Employees and On Site Employees of Manager. 

 

	 	5.	Recruiting expense/placement fees paid to third parties for recruitment of SAC Employees to work at the Facility. 

 

	 	6.	All financing costs including fees, interest, documentation costs, etc., which relate to the SAC Business. 

 

	 	7.	Relocation expenses paid by Manager, if any, which relate to moving employees to the Facility. 

 

	 	8.	Reasonable costs for winding up SAC insurance programs. 

  

	 	9.	Reasonable costs for winding up employee benefit plans for SAC Employees at the Facility (active/retired/disabled). 

 

	 	10.	Any other expense or cost specifically approved by the SAC Board. 

  
 E-1

 EXHIBIT F 

Purchase Agreement Volume Levels 
  

			
	Canned Product	  	8.0 million cases
		
	Bottled Product	  	8.0 million cases
		
	Water Product	  	1.5 million cases

  
 F-1

 EXHIBIT G 

Insurance Policies and Coverage 
  

					
	 Coverage
	 	 Carrier
	 	 Amount of Coverage

		 		 	Included in CCBCC’s program
			
	 General Liability
	 	ACE American Insurance Company	 	 $2,000,000 Occurrence
 $5,000,000 General Aggregate-Per Location
 $500,000 Deductible

			
	 Automobile Liability
	 	ACE American Insurance Company	 	 $5,000,000 Ea. Accident
 $1,000,000 Ded.

			
	 Workers’ Compensation
	 	ACE American Insurance Company	 	 $1,000,000 Bodily Injury by Accident

$1,000,000 Deductible

			
	 Umbrella
	 	ACE Property and Casualty	 	$25,000,000 Aggregate xs $5,000,000 Primary $25,000,000 Each Incident xs $5,000,000 Primary
			
	 Excess Liability
	 	Great American	 	 $50,000,000 xs $25,000,000
 Lead Umbrella

			
		 	Fireman’s Fund	 	$25,000,000 xs $75,000,000
			
		 	Ohio Casualty	 	$25,000,000 xs $100,000,000
			
		 	American Guarantee/Zurich	 	$25,000,000 xs $125,000,000
			
		 	Navigators Insurance	 	$25,000,000 xs $150,000,000
			
		 	North River Insurance	 	$25,000,000 xs $175,000,000
			
		 	St. Paul Fire & Marine	 	$25,000,000 xs $200,000,000
			
		 	Fireman’s Fund	 	$23,000,000 xs $225,000,000
			
	 Property
	 	Zurich	 	 $300,000,000
 Flood $25,000,000 High Hazard Zone
 x

$100,000 Deductible

			
		 		 	SAC Specific Program
			
	 Travel Accident
	 	Hartford Insurance Company	 	 $100,000,000 Per Person AD&D
 $500,000 Aggregate

			
	 Directors & Officers Liability
	 	Federal Insurance Co. (Chubb)	 	 $5,000,000 Aggregate
 $50,000 Deductible

  
 G-1

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