Document:

On-Loan Facility Agreement

 Exhibit 10.49 
 EXECUTION VERSION 
 DATED 1 DECEMBER 2009 

JELEGAT HOLDINGS LIMITED 
 as the Lender 
 and 

JOINT STOCK COMPANY «DISTILLERY «TOPAZ» 
 OOO “FIRST TULA DISTILLERY” 
 BRAVO PREMIUM LLC 

LIMITED LIABILITY COMPANY «THE TRADING HOUSE «RUSSIAN 

ALCOHOL» 
 JOINT STOCK COMPANY «RUSSIAN ALCOHOL GROUP» 
 ZAO
“SIBIRSKY LVZ” 
 CLOSED JOINT STOCK COMPANY «MID-RUSSIAN DISTILLERIES» 

as the Borrowers 
  

 
 ON-LOAN
FACILITY AGREEMENT 
  
  

 

 

 

 TABLE OF CONTENTS 

 

							
	1.	  	 INTERPRETATION
	  	 	3	  
			
	2.	  	 ADVANCE
	  	 	5	  
			
	3.	  	 PAYMENT OF INTEREST AND PRINCIPAL
	  	 	5	  
			
	4.	  	 DEMAND
	  	 	5	  
			
	5.	  	 PREPAYMENT
	  	 	6	  
			
	6.	  	 TAXES
	  	 	6	  
			
	7.	  	 UNDERTAKINGS
	  	 	6	  
			
	8.	  	 REPRESENTATIONS
	  	 	6	  
			
	9.	  	 ASSIGNMENT AND TRANSFER
	  	 	7	  
			
	10.	  	 REMEDIES, WAIVERS AND PARTIAL INVALIDITY
	  	 	8	  
			
	11.	  	 CERTIFICATE
	  	 	8	  
			
	12.	  	 GENERAL
	  	 	8	  
			
	13.	  	 NOTICES
	  	 	8	  
			
	14.	  	 GOVERNING LAW AND JURISDICTION
	  	 	12	  
			
	15.	  	 SERVICE OF PROCESS
	  	 	13	  
			
	16.	  	 COUNTERPARTS
	  	 	13	  
		
	 SCHEDULE 1 Security Arrangements
	  	 	14	  

 THIS ON-LOAN FACILITY (this “AGREEMENT”) is made on 1 DECEMBER 2009 BETWEEN: 

 

	(1)	JELEGAT HOLDINGS LIMITED, a company incorporated in Cyprus (corporate identity no. 256696) having its registered office at: 2-4 Arch Makarios Ave., Capital
Center, 9th Floor, P.O. Box 21255, Nicosia 1505, Cyprus (the “Lender”); and 

  

	(2)	JOINT STOCK COMPANY «DISTILLERY «TOPAZ», a company incorporated under the laws of Russia (principal state registration number: 1025004907916)
having its registered office at 46, Oktyabrskaya str., Pushkino, Moscow region, 141200, Russia, OOO “FIRST TULA DISTILLERY”a company incorporated under the laws of Russia (principal state registration number: 1047101123630) having
its registered office at 5, Nekrasova street, Tula, the Tula region, 300045, Russia, BRAVO PREMIUM LLC, a company incorporated under the laws of Russia (principal state registration number: 1027804850303) having its registered office at Liter
A, 52/4, Kuznetsovskaya str., Saint-Petersburg, I96I05, Russian Federation, LIMITED LIABILITY COMPANY «THE TRADING HOUSE «RUSSIAN ALCOHOL», a company incorporated under the laws of Russia (principal state registration
number: 1047796690611) having its registered office at 3, Krasnayasosna str., Moscow, 129337, Russian Federation, ZAO “SIBIRSKY LVZ”, a company incorporated under the laws of Russia (principal state registration number:
1075475004087) having its registered office at, industrial area of Sibirsky LVZ, No 1, Koltsovo, Novosibirsk district, Novosibirsk region, 630559, Russian Federation, CLOSED JOINT STOCK COMPANY «MID-RUSSIAN DISTILLERIES», a
company incorporated under the laws of Russia (principal state registration number 1057747177861) having its registered office at Degtyarny per. 5. corp. 2, Moscow, 125009, Russian Federation, JOINT STOCK COMPANY «RUSSIAN ALCOHOL
GROUP», a company incorporated under the laws of Russia (principal state registration number: 1037705023190) having its registered office at 1, Eniseiskaya str., Moscow, 129344, Russian Federation (acting on its own behalf and as a
Managing Company on behalf of the following above mentioned companies: JOINT STOCK COMPANY «DISTILLERY «TOPAZ», OOO “FIRST TULA DISTILLERY” and ZAO “SIBIRSKY LVZ” ) (the “Borrowers” and each a
“Borrower”). 

 THE PARTIES AGREE as follows: 

 

	1.	INTERPRETATION  

  

	1.1	In this Agreement: 

“Advances” means the advances set out under clause 2.1 and an “Advance” refers to any one of them;

 “Advance Date” means the date on which each Advance will be made by the Lender being such date prior to the
Repayment Date as the Lender and the Borrowers shall agree in writing; 
 “Allocable Arrangement and Commitment
Fee” means, for each Borrower, $3,772,519 multiplied by that Borrower’s Pro Rated Percentage; 
 “Business
Day” means a day (other than a Saturday or Sunday) on which banks are open for general business in Nicosia and Moscow; 

  
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 “Jelegat Loan” means the loan agreement between CEDC Finance Corporation
International, Inc. and the Lender to be entered into on 2 December 2009; 
 “Interest Payment Date” means
30 May 2010 and semi annual dates thereafter; 
 “Lender’s Account” means the account number in the
name of the Lender as shall be notified to the Borrowers under this Agreement; 
 “Pro-Rated Percentage” means,
in respect of each Borrower, the amount of that Borrower’s Advance divided by the aggregate amount of all Advances outstanding expressed as a percentage; 
 “RAG Guarantor Accession Date” has the meaning ascribed to it in the Jelegat Loan; 
 “Repayment Date” means 29 November 2016; and 

“Repayment Fee” means, for each Borrower, $1,708,414 multiplied by the Pro-Rated Percentage. 

 

	1.2	In this Agreement, a reference to: 

  

	 	1.2.1 	words importing the singular shall include the plural and vice versa; 

  

	 	1.2.2 	a clause, paragraph or schedule, unless the context otherwise requires, is a reference to a clause or paragraph of, or schedule to, this Agreement;

  

	 	1.2.3 	any document shall be construed as references to that document as amended, varied, novated or supplemented; 

 

	 	1.2.4 	any statute or statutory provision include any statute or statutory provision which amends, extends, consolidates or replaces the same, or which has been amended,
extended, consolidated or replaced by the same, and shall include any orders, regulations, instruments or other subordinate legislation made under the relevant statute; 

 

	 	1.2.5 	the words “including” and “in particular” shall be construed as being by way of illustration or emphasis only and shall not be
construed as, nor shall they take effect as, limiting the generality of any preceding words; 

  

	 	1.2.6 	the words “other” and “otherwise” shall not be construed ejusdem generis with any foregoing words where a wider construction is
possible; 

  

	 	1.2.7 	a “person” shall be construed so as to include that person’s assigns, transferees or successors in title and shall be construed as including
references to an individual, firm, partnership, joint venture, company, corporation, body corporate, unincorporated body of persons or any state or any agency of a state; and 

 

	 	1.2.8 	“$” or “Dollars” shall mean the lawful currency of the United States of America. 

 

	1.3	The headings in this Agreement do not affect its interpretation. 

  
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	2.	ADVANCE  

  

	2.1	On the Advance Date, the Lender shall make the following Advances to the Borrowers: 

 

	 	2.1.1	$193,995,000 to JOINT STOCK COMPANY «DISTILLERY «TOPAZ»; 

 

	 	2.1.2	$13,400,000 to OOO “FIRST TULA DISTILLERY”; 

  

	 	2.1.3	$18,000,000 to BRAVO PREMIUM LLC; 

  

	 	2.1.4	$5,000 to LIMITED LIABILITY COMPANY «THE TRADING HOUSE «RUSSIAN ALCOHOL»; 

 

	 	2.1.5	$15,680,000 to JOINT STOCK COMPANY «RUSSIAN ALCOHOL GROUP»; 

  

	 	2.1.6	$22,900,000 to ZAO “SIBIRSKY LVZ”; and 

  

	 	2.1.7	$5,000 to CLOSED STOCK COMPANY «MID-RUSSIAN DISTILLERIES». 

  

	3.	PAYMENT OF INTEREST AND PRINCIPAL  

  

	3.1	Scheduled Interest 

  

	 	3.1.1	Each Borrower shall pay interest on its respective Advance at the rate of 9.50 per cent. per annum. 

 

	 	3.1.2	If the rate of interest under the Jelegat Loan increases pursuant to its terms the rate of interest on each Advance shall increase automatically by the same percentage.

  

	 	3.1.3	Interest on each Advance will be computed by reference to interest periods of six months. Interest will be calculated on the basis of days outstanding in a 365 day
year. 

  

	 	3.1.4	Interest shall be payable by each Borrower to the Lender in immediately available funds not later than the Interest Payment Dates. In the event that any Interest
Payment Date is not a Business Day such interest shall be paid in immediately available funds not later than the Business Day immediately preceding the relevant Interest Payment Date. 

 

	3.2	Repayment of Advance 

 Unless
otherwise demanded and repaid under this Agreement, each Borrower shall repay on the Repayment Date its respective Advance in full to the Lender together with all interest accrued thereon and all other amounts due from the Borrower under this
Agreement together with the Allocable Arrangement and Commitment Fee and the Repayment Fee. 
  

	4.	DEMAND  

 Notwithstanding
any other provision of this Agreement, the Lender may demand repayment by the Borrowers of all or any part of their respective Advances (together with the Allocable Arrangement and Commitment Fee and the Repayment Fee) in the

  
 5 

 
amount of the Lender’s first demand for such repayment. Any such repayment shall be made together with any other amounts (whether of principal, interest or otherwise) due under this
Agreement. To the extent that the Borrowers repay part of their respective Advances under this Clause 4, the Allocable Arrangement and Commitment Fee and the Repayment Fee will each be pro-rated by reference to the amount of the Advance being
repaid. 
  

	5.	PREPAYMENT  

  

	5.1	Prepayment of Advance 

  

	 	5.1.1	No Borrower may repay all or any part of the Advances except at the times and in the manner expressly provided for in this Agreement. All prepayments under this
Agreement shall be irrevocable. 

  

	 	5.1.2	Notwithstanding the provisions of Clause 5.1.1, or any other provision of this Agreement, each Borrower shall be entitled to prepay or reduce the amount of its Advance
in any manner at the request of the Lender to facilitate or otherwise accommodate or reflect a corresponding repayment, redemption or repurchase under the Jelegat Loan. 

 

	5.2	No Reborrowing 

 No Borrower
shall be entitled to reborrow any amount paid. 
  

	6.	TAXES  

  

	 	6.1	All payments to be made by the Borrowers to the Lender hereunder shall be made free and clear of and without deduction for or on account of all present or future taxes,
withholding, levies, duties, imposts and deductions. 

  

	7.	UNDERTAKINGS  

 Each
Borrower hereby undertakes to cooperate with the Lender and any agent appointed by the Lender in relation thereto to effect the security arrangements set out in Schedule 1 to this Agreement in so far as such arrangements pertain to such Borrower
and/or its subsidiary. The parties agree to effect such security arrangements within the time periods specified in Schedule 1. 
  

	8.	REPRESENTATIONS  

 Each
Borrower makes the representations and warranties set out in this clause 8 to the Lender on the date of this Agreement. 
  

	8.1	Status 

  

	 	8.1.1	It is duly incorporated and validly existing under the law of its jurisdiction of incorporation. 

 

	 	8.1.2	It has the power to own its assets and carry on its business as it is being conducted. 

 

	8.2	Binding obligations 

 The
obligations expressed to be assumed by it in this Agreement are legal, valid, binding and enforceable obligations. 

  
 6 

	8.3	Non-conflict with other obligations 

 The entry into and performance by it of, and the transactions contemplated by this Agreement do not and will not conflict with: 

 

	 	8.3.1	any law or regulation applicable to it; or 

  

	 	8.3.2	its constitutional documents. 

  

	8.4	Power and authority 

 It has the
power to enter into, perform and deliver, and has taken all necessary action to authorise its entry into, performance and delivery of this Agreement to which it is a party and the transactions contemplated by this Agreement. 

 

	8.5	Validity and admissibility in evidence 

 All authorisations required: 
  

	 	8.5.1	to enable it lawfully to enter into, exercise its rights and comply with its obligations in this Agreement; and 

 

	 	8.5.2	to make this Agreement admissible in evidence in its jurisdiction of incorporation, 

 

	 	8.5.3	have been obtained or effected and are in full force and effect. 

  

	8.6	Pari passu ranking 

 At
all times any unsecured and unsubordinated claims of the Lender against it under this Agreement shall rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors, except for those creditors whose claims
are mandatorily preferred by law applying to companies generally. 
  

	9.	ASSIGNMENT AND TRANSFER  

  

	9.1	Binding Agreement 

 This
Agreement shall be binding upon and inure to the benefit of each party hereto and its or any subsequent successors and assignees. 
  

	9.2	Assignments and Transfers 

 Save
for the assignment of this Agreement to be entered into between the Lender and TMF Trustee Limited, neither the Borrowers nor the Lender shall be entitled to assign or transfer all or any of their respective rights, benefits and obligations
hereunder without the prior written consent of the Borrowers in the case of the Lender or the Lender in the case of a Borrower and TMF Trustee Limited in either case. The Lender as an agent of the Borrowers shall maintain a register (the
“Register”) of the name and address of the person that has rights, benefits and obligations as Lender hereunder. Any transfer of rights, benefits and obligations of the Lender hereunder shall be reflected in the Register.

  
 7 

	10.	REMEDIES, WAIVERS AND PARTIAL INVALIDITY  

  

	10.1	No failure by the Lender to exercise, nor any delay by the Lender in exercising, any right or remedy hereunder shall operate as a waiver thereof, or shall any single or
partial exercise of any other right or remedy prevent any further or another exercise thereof or the exercise of any other right or remedy. The rights and remedies herein provided are cumulative and not exclusive of any other rights nor remedies
provided by law. 

  

	10.2	If at any time any provision of this Agreement is or becomes illegal, invalid or unenforceable under the laws of any jurisdiction, that shall not affect:

  

	 	10.2.1	the legality, validity or enforceability in that jurisdiction of any other provision of this Agreement; or 

 

	 	10.2.2	the legality, validity or enforceability under the laws of any other jurisdiction of that or another provision of this Agreement. 

 

	11.	CERTIFICATE  

 A
certificate from the Lender as to the amount at any time due from a Borrower to the Lender in relation to an Advance shall, in the absence of manifest error, be conclusive. 

 

	12.	GENERAL  

  

	 	12.1	A variation of this Agreement is valid only if it is in writing and signed by or on behalf of each party. 

 

	 	12.2	Save as otherwise provided herein, any payment to be made by any party under this Agreement shall be made in the currency of the relevant Advance (or as otherwise
determined by the Lender) and in full without any set-off, restriction, condition or deduction for or on account of any counterclaim. 

  

	 	12.3	Except as provided herein, a person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this
Agreement. 

  

	 	12.4	Unless otherwise specified in writing, all payments to the Lender under this Agreement shall be made to the Lender’s Account. 

 

	13.	NOTICES  

  

	13.1	A notice or other communication under or in connection with this Agreement (a “Notice”) shall be: 

 

	 	13.1.1 	in writing; 

  

	 	13.1.2 	in the English language; and 

  

	 	13.1.3 	sent by first class post (and air mail if overseas) or by fax as set out below: 

 

	 	(a)	for Joint Stock Company «Distillery «Topaz» at: 

 46, Oktyabrskaya str. 
 Pushkino 

Moscow region 

  
 8 

 141200 
 Russia 
 Facsimile: +7 (495) 993-33-36 

Attention: General Director 
  

	 	(b)	for OOO “First Tula Distillery” at: 

 5, Nekrasova street 
 Tula 

the Tula region 

300045 
 Russia

 Facsimile: +7 (4872) 25-02-25 
 Attention: General Director 
  

	 	(c)	for Bravo Premium LLC at: 

Liter A, 52/4 

Kuznetsovskaya str. 
 Saint-Petersburg 
 I96I05 

Russian Federation 
 Facsimile: +7 (812)336-48-86 
 Attention: General Director 

 

	 	(d)	for Limited Liability Company «The Trading House «Russian 

 Alcohol» at: 
 3, Krasnaya sosna str. 

Moscow 
 129337

 Russian Federation 
 Facsimile: +7 (495) 642-82-83 
 Attention: General Director

  
 9 

	 	(e)	for Joint Stock Company «Russian Alcohol Group» at: 

 1, Eniseiskaya str. 
 Moscow 

129344 

Russian Federation 
 Facsimile: +7 (495) 642-82-83 
 Attention: General Director

  

	 	(f)	for ZAO “Sibirsky LVZ” at: 

 industrial area of Sibirsky LVZ, No 1 
 Koltsovo 

Novosibirsk district 
 Novosibirsk region 
 630559 

Russian Federation 
 Facsimile: +7 (383) 363-33-98 
 Attention: General Director

  

	 	(g)	for Closed Joint Stock Company «Mid-Russian Distilleries» at: 

 Building 1, 1st Eniseiskaya str. 
 Moscow 

129344 

Russian Federation 

  
 10 

 Facsimile: +7 (495) 993-33-36 

Attention: General Director 
 and for each of (a) to (g) with a copy to (but which shall not constitute notice): 
 Joint Stock Company «Russian Alcohol Group» at: 
 1, Eniseiskaya str.

 Moscow 
 129344 
 Russian Federation 

Facsimile: +7 (495) 642-82-83 
 Attention: General Director 
  

	 	(h)	for the Lender at: 

 Jelegat
Holdings Limited 
 2-4 Arch Makarios Ave. 
 Capital Center 
 9th Floor 

P.O. Box 21255 

Nicosia 1505 

Cyprus 

Facsimile: +(357) 22670670 
 Attention: Corporate Secretary 
 and with a copy to (but which shall not
constitute notice): 
 Central European Distribution Corporation at: 

Two Bala Plaza, Suite 300 
 Bala Cynwyd, PA 19004 
 U.S.A. 

Facsimile: +48 22 455 1810 
 Attention: Chris Biedermann, Chief Financial Officer 
 and 

Biuro Zarządu CEDC 

  
 11 

 Bobrowiecka 6, 00-728, 

Warsaw 
 Poland

 Facsimile: +48 22 45 66 001 
 Attention: the CEDC Management Board 
  

	13.2	Unless there is evidence that it was received earlier, a Notice is deemed given if: 

 

	 	13.2.1 	sent by mail, ten (10) Business Days after posting it; and 

  

	 	13.2.2 	sent by fax, when confirmation of its transmission has been recorded by the sender’s fax machine. 

 

	14.	GOVERNING LAW AND JURISDICTION  

  

	14.1	This Agreement is governed by English law. 

  
 12 

	14.2	Subject to clause 14.4, the courts of England have exclusive jurisdiction to settle any dispute arising from or connected with this Agreement (a
“Dispute”) including a dispute regarding the existence, validity or termination of this Agreement or the consequences of its nullity. 

  

	14.3	The parties agree that the courts of England are the most appropriate and convenient courts to settle any Dispute and, accordingly, that they will not argue to the
contrary. 

  

	14.4	In addition to clause 14.2 above, the Lender shall have the right to refer any dispute which may arise out of or in connection with this Agreement to final and binding
arbitration in London, England, pursuant to the arbitration rules of LCIA (the “LCIA Rules”). The language of the arbitration proceedings shall be English. Such arbitration shall be conducted by an arbitrator appointed in accordance
with LCIA Rules. The seat or legal place of arbitration shall be deemed to be England, and accordingly the substantive laws of England shall be applicable for purposes of the arbitration. The procedural law for any reference to arbitration shall be
English law. Any right of appeal or reference on points of law to the courts is hereby waived, to the extent that such waiver can be validly made. The arbitral tribunal shall have the power to order on a provisional basis any relief which it would
have power to grant in a final award. Any award given by the arbitrator shall be final and binding on the Parties and shall be in lieu of any other remedy. 

 

	15.	SERVICE OF PROCESS  

  

	15.1	Without prejudice to any other mode of service allowed under any relevant law, each Borrower: 

 

	 	15.1.1 	irrevocably appoints Law Debenture Corporate Services Limited, Fifth Floor 100 Wood Street, London, EC2V 7EX as its agent for service of process in relation to any
proceedings before the English courts in connection with this Agreement; and 

  

	 	15.1.2 	agrees that failure by a process agent to notify the Borrower of the process will not invalidate the proceedings concerned. 

 

	15.2	Without prejudice to any other mode of service allowed under any relevant law, the Lender: 

 

	 	15.2.1 	irrevocably appoints Law Debenture Corporate Services Limited, Fifth Floor 100 Wood Street, London, EC2V 7EX as its agent for service of process in relation to any
proceedings before the English courts in connection with this Agreement; and 

  

	 	15.2.2 	agrees that failure by a process agent to notify the Lender of the process will not invalidate the proceedings concerned. 

 

	16.	COUNTERPARTS  

 This
Agreement may be executed in any number of counterparts, each of which when executed and delivered is an original and all of which together evidence the same agreement. 

  
 13 

 SCHEDULE 1 
 SECURITY ARRANGEMENTS 
  

	1.	Within two months of the RAG Guarantor Accession Date each Borrower shall enter into arrangements with the Lender and any agent appointed by the Lender to provide as
security to the Advances, registered pledges of participatory interests of or the shares in, as appropriate, each of the Borrowers. 

  

	2.	Within two months of the RAG Guarantor Accession Date each Borrower, the Lender and any agent appointed by the Lender shall enter into arrangements to provide as
security to the Advances, assignments of: 

  

	2.1	the rights under each non-Russian bank account; and 

  

	2.2	withdrawal rights agreements for each Russian bank account, 

 of each of the Borrowers containing at least $5.0 million (or the U.S. dollar equivalent thereof) in deposits, measured as of 13 November 2009, and thereafter as of the last day of each fiscal
quarter after 2 December 2009. 
  

	3.	Within six months of the RAG Guarantor Accession Date the relevant Borrower, the Lender and any agent appointed by the Lender shall enter into arrangements to provide
as security to the Advances, mortgage agreements and evidence of filing motions with the appropriate registry to register the mortgages over real property, land rights and fixtures (to the extent qualified as real property under Russian law) of:

  

	3.1	the distillery belonging to ZAO “Sibirsky LVZ”, with the address: industrial area of Sibirsky LVZ, No ,1Koltsovo, Novosibirsk district, Novosibirsk region,
Russia; and 

  

	3.2	the factory belonging to OOO “First Tula Distillery”, with the address: 5, Nekrasova street, Tula, the Tula region, Russia. 

  
 14 

 THIS AGREEMENT has been entered into on the date stated at the beginning of this Agreement.

 THE LENDER 
  

			
	JELEGAT HOLDINGS LIMITED
		
	By:	 	/s/ William V. Carey
	Name:	 	William V. Carey
	Title:	 	Director

  
 15 

			
	THE BORROWERS
	
	 JOINT STOCK COMPANY
 «DISTILLERY «TOPAZ»

		
	By:	 	/s/ Carlo Radicati di Primeglio
	Name:	 	Carlo Radicati di Primeglio
	Title:	 	General Director of the Managing Company
		 	
		
	By:	 	/s/ Platonova Tatiana Ivanovna
	Name:	 	Platonova Tatiana Ivanovna
	Title:	 	Chief Accountant

 Address: 46, Oktyabrskaya str. Pushkino
Moscow region 141200 Russia 
  

			
	OOO “FIRST TULA DISTILLERY”
		
	By:	 	/s/ Carlo Radicati di Primeglio
	Name:	 	Carlo Radicati di Primeglio
	Title:	 	General Director of the Managing Company
		 	
		
	By:	 	/s/ Shagunova Natalia Alexandrovna
	Name:	 	Shagunova Natalia Alexandrovna
	Title:	 	Chief Accountant

 Address: 5, Nekrasova street Tula the
Tula region 300045 Russia 
  

			
	BRAVO PREMIUM LLC
		
	By:	 	/s/ Kopitel Sergey Igorevich
	Name:	 	Kopitel Sergey Igorevich
	Title:	 	General Director
		 	
		
	By:	 	/s/ Marugina Elena Vladimirovna
	Name:	 	Marugina Elena Vladimirovna
	Title:	 	Chief Accountant

 Address: Liter A, 52/4 Kuznetsovskaya
str. Saint-Petersburg 196105 Russian Federation 
  

			
	LIMITED LIABILITY COMPANY
	 «THE TRADING HOUSE
 «RUSSIAN ALCOHOL»

		
	By:	 	/s/ Yablokov Evgeny Vladimirovich
	Name:	 	Yablokov Evgeny Vladimirovich
	Title:	 	General Director
		 	

  
 16 

			
		
	By:	 	/s/ Yakubovskaya Irina Ivanovna
	Name:	 	Yakubovskaya Irina Ivanovna
	Title:	 	Chief Accountant
		 	

 Address: 3, Krasnaya sosna str. Moscow 129337 Russian Federation

  
 17 

			
	 JOINT STOCK COMPANY
 «RUSSIAN ALCOHOL GROUP»

		
	By:	 	/s/ Carlo Radicati di Primeglio
	Name:	 	Carlo Radicati di Primeglio
	Title:	 	General Director
		 	
		
	By:	 	/s/ Lavrinovich Tatiana Germonovna
	Name:	 	Lavrinovich Tatiana Germonovna
	Title:	 	Chief Accountant

 Address: 1, Eniseiskaya str. Moscow
129344 Russian Federation 
  

			
	ZAO “SIBIRSKY LVZ”
		
	By:	 	/s/ Carlo Radicati di Primeglio
	Name:	 	Carlo Radicati di Primeglio
	Title:	 	General Director of the Managing Company
		 	
		
	By:	 	/s/ Ilina Irina Nikolaevna
	Name:	 	Ilina Irina Nikolaevna
	Title:	 	Chief Accountant

 Address: Industrial area of Sibirsky
LVZ, No 1, Koltsovo, Novosibirsk district Novosibirisk region, 630559, Russia 
  

			
	 CLOSED JOINT STOCK COMPANY
 «MID-RUSSIAN DISTILLERIES»

		
	By:	 	/s/ Zhangozin Kairat Nakoshevich
	Name:	 	Zhangozin Kairat Nakoshevich
	Title:	 	General Director
		 	
		
	By:	 	/s/ Kolmakova Irina Nikolaevna
	Name:	 	Kolmakova Irina Nikolaevna
	Title:	 	Chief Accountant

 Address: Degtyainmyper.5. corp 2 Moscow
125009 Russia 

  
 18Form of Restricted Stock Award Agreement

 Exhibit 10.50 
 RESTRICTED STOCK AWARD AGREEMENT 
 Central European Distribution
Corporation 
 2007 Stock Incentive Plan  

This RESTRICTED STOCK AWARD AGREEMENT (this “Agreement”) made as of the 1st day of January, 2010 (the “Grant
Date”), between Central European Distribution Corporation, a Delaware corporation (the “Company”), and [            ] (the “Grantee”), is made
pursuant to the terms of the Central European Distribution Corporation 2007 Stock Incentive Plan (the “Plan”). 

Section 1. Definitions. Capitalized terms used herein but not defined shall have the meanings set forth in the Plan.

 Section 2. Restricted Stock Award. The Company hereby grants
[            ] shares of Restricted Stock (the “Restricted Stock Award”). The Restricted Stock Award hereunder shall be subject to the conditions hereinafter
provided and subject to the terms and conditions set forth in the Plan, a copy of which the Grantee acknowledges having received. 
 Section 3. Vesting Requirements. 
  

	 	(a)	Time-Based Vesting. Subject to the terms of the Plan and this Agreement, fifty percent (50%) of the Restricted Stock Award shall become fully vested upon
the second anniversary of the Grant Date, unless earlier terminated. 

  

	 	(b)	Performance-Based Vesting. Subject to the terms of the Plan and this Agreement, fifty percent (50%) of the Restricted Stock Award shall become vested (such
portion of the Restricted Stock Award, the “Performance-Based Award”) in three annual installments based on the level of achievement of certain performance goals for the 2010, 2011 and 2012 fiscal years (the “Performance
Goals”), which will be established no later than January 31, 2010 based on projections to be agreed to by the Company’s Board of Directors. The vesting for one-half of the Performance-Based Award will be determined based on the
achievement of Performance Goals relating to the Company’s comparable earnings per Share and the vesting for the other half of the Performance-Based Award will be determined based on the achievement of Performance Goals relating to the
Company’s ratio of net debt to earnings before interest, taxes, depreciation and amortization (“EBITDA”). Any vesting of the Performance-Based Award will be pro rated according to the Company’s actual performance for the
respective fiscal year relative to the Performance Goals, as measured upon receipt of final audited financials and an audit opinion. Underachievement of the Performance Goals (ranging from 70%- 99%) 

will result in the vesting of a proportional amount of the Performance-Based Award, with the difference to be forfeited by the Grantee.
Overachievement of the Performance Goals (ranging from 101-150%) will result in the granting of new shares of Restricted Stock, which will be granted, as determined by the Committee, in accordance with the terms of the Plan. One-third of the
Restricted Stock Award will vest on the date that the Company receives the final audited financials for the Company and related audit opinion relating to relevant fiscal year for which the Performance Goals have been established,
provided that the Grantee is employed on such date of receipt by the Company and the applicable Performance Goals have been satisfied. 
 Section 4. Termination of Employment. In the event of the Grantee’s termination of employment for reasons other than death or “permanent and total disability” in
accordance with Section 14.6 of the Plan the unvested portion of the Restricted Stock Award granted hereunder shall be forfeited and automatically cancelled. If the Grantee dies while employed, the Restricted Stock Award shall fully vest as of
the date of death in accordance with Section 14.7 of the Plan. Upon the Grantee’s termination of employment as a result of “permanent and total disability” (within the meaning of Section 22(e)(3) of the Code) in accordance
with 

 Section 14.8 of the Plan, the Restricted Stock Award shall fully vest as of the date of the
Grantee’s termination of employment. 
 Section 5. Section 83(b) Election. The Grantee hereby
acknowledges that the Grantee may file an election pursuant to Section 83(b) of the Code to be taxed currently on the Fair Market Value of the shares of Restricted Stock (less any purchase price paid for the Shares), provided that such election
must be filed with the Internal Revenue Service no later than thirty (30) days after the grant of such Restricted Stock. The Grantee will seek the advice of the Grantee own tax advisors as to the advisability of making such a
Section 83(b) election, the potential consequences of making such an election, the requirements for making such an election, and the other tax consequences of the Restricted Stock award under federal, state, and any other laws that may be
applicable. The Company and its affiliates and agents have not and are not providing any tax advice to the Grantee. 

Section 6. Restrictions on Transfer. No portion of the Restricted Stock Award hereunder may be sold, assigned,
transferred, encumbered, hypothecated or pledged by the Grantee, other than to the Company as a result of forfeiture of the Restricted Stock Award as provided herein, unless and until the vesting of the Restricted Stock Award in accordance with
Section 3 or Section 8 hereof. 
 Section 7. Limitation of Rights. The Grantee shall have the right
to vote the shares of Restricted Stock and the right to receive any dividends declared or paid with respect to such shares of Restricted Stock. Any dividend paid on the shares of Restricted Stock shall be reinvested in shares of Stock, which shall
be subject to the same vesting condition and restrictions as applicable to the Restrictive Stock Award. All distributions, if any, received by the Grantee with respect to the Restricted Stock Award as a result of any stock split, stock dividend,
combination of shares, or other similar transaction shall be subject to the restrictions applicable to the original Restricted Stock Award. Nothing in this Agreement shall confer upon the Grantee any right to continue as an employee of the Company
or any Subsidiary or to interfere in any way with any right of the Company to terminate the Grantee’s employment at any time. 
 Section 8. Changes in Capitalization. The Restricted Stock Award shall be subject to the provisions of Section 18 of the Plan relating to adjustments for changes in corporate
capitalization, without regard to the acceleration of vesting and lapse of forfeiture or transfer restrictions in connection with a Change in Control provided under Section 18.3 of the Plan. Upon a Change in Control, unless otherwise provided
in the transaction documents related to such Change in Control, unvested shares of Restricted Stock will continue to vest in accordance with Section 3(a) and 3(b) hereof and will continue to be subject to forfeiture in accordance with the terms
of this Agreement. 
 Section 9. Notices. Any notice hereunder by the Grantee shall be given to the Company
in writing and such notice shall be deemed duly given only upon receipt thereof by the Secretary of the Company. Any notice hereunder by the Company shall be given to the Grantee in writing and such notice shall be deemed duly given only upon
receipt thereof at such address as the Grantee may have on file with the Company. 
 Section 10.
Construction. This Agreement and the Restricted Stock Award hereunder are granted by the Company pursuant to the Plan and are in all respects subject to the terms and conditions of the Plan. The Grantee hereby acknowledges that a copy of the
Plan has been delivered to the Grantee and accepts the Restricted Stock Award hereunder subject to all terms and provisions of the Plan, which is incorporated herein by reference. In the event of a conflict or ambiguity between any term or provision
contained herein and a term or provision of the Plan, the Plan will govern and prevail. The construction of and decisions under the Plan and this Agreement are vested in the Committee, whose determinations shall be final, conclusive and binding upon
the Grantee. 
 Section 11. Governing Law. This Agreement shall be governed by, and construed in accordance
with, the laws of the State of Delaware, excluding the choice of law rules thereof. 
 Section 12.
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument. 

Section 13. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the legatees,
distributees, and personal representatives of the Grantee and the successors of the Company. 
 Section 14.
Entire Agreement. This Agreement and the Plan constitute the entire agreement between the parties with respect to the subject matter hereof and thereof, merging any and all prior agreements. 

 [SIGNATURES ON FOLLOWING PAGE] 

 IN WITNESS WHEREOF, the Company and the Grantee have executed this Restricted Stock Award
Agreement effective as of the date first above written. 
  

			
	CENTRAL EUROPEAN DISTRIBUTION CORPORATION
		
	By:	 	 
		 	Name: William Carey
		
		 	Title: CEO, Chairman and President

  

			
	PARTICIPANT
		
	By:	 	 
		 	Name: [            ]

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