Document:

Exhibit 10.1

 Exhibit 10.1 
  

 
 COCA-COLA PLAZA 

ATLANTA, GEORGIA 
  

					
	 J. ALEXANDER M. DOUGLAS, JR.

PRESIDENT, COCA-COLA NORTH AMERICA
	 		  	 P. O. BOX 1734

ATLANTA, GA 30301

——
 404 676-4421
 FAX
404-598-4421

 March 31, 2017 

Coca-Cola Bottling Co. Consolidated 
 Piedmont Coca-Cola Bottling
Partnership 
 CCBC of Wilmington, Inc. 
 4100 Coca-Cola Plaza

 Charlotte, North Carolina 28211 
 Attention: J. Frank
Harrison III 
 Dear Frank, 
 Reference is
made to the CBA (as defined below). Capitalized terms used and not otherwise defined in this letter agreement have the respective meanings ascribed to such terms in the RMA. 

This letter sets forth certain mutual understandings and agreements of The Coca-Cola Company, a Delaware corporation
(“Company”), Coca-Cola Refreshments USA, Inc., a Delaware corporation (“CCR”), Coca-Cola Bottling Co. Consolidated, a Delaware corporation (“CCBCC”), Piedmont Coca-Cola Bottling Partnership, a
Delaware general partnership (“Piedmont”), and CCBC of Wilmington, Inc., a Delaware corporation (“CCBC Wilmington” and, collectively with CCBCC and Piedmont, “Bottler”), regarding certain waivers
and agreements with respect to the application of certain provisions of the CBA and the RMA (as defined below) to the CCBCC Group Territory (as defined below). 

In light of Bottler’s particular circumstances and corporate structure, Company and CCR hereby waive application of the Volume Per Capita
performance standards set forth in Section 14.2 of each CBA with respect to the individual geographic territory covered by such CBA, and, in connection with such waiver, each of Company, CCR and Bottler hereby agree that Bottler
will comply with such Volume Per Capita performance standards equivalent to those set forth in CBA Section 14.2 with respect to the entire CCBCC Group Territory in the aggregate (and, for purposes of determining Bottler’s
compliance with the foregoing, “Equivalent Case Volume Per Capita” will mean the total aggregated volume of 192 ounce equivalent cases of all Covered Beverages sold in the CCBCC Group Territory divided by the population for such
CCBCC Group Territory as determined based on the then most current information published by the United States Census Bureau). Company and CCR hereby also waive the capital expenditures requirements set forth in Section 14.2 of
each CBA with respect to each individual Bottler territory under a particular CBA and, in connection with such waiver, each of Company, CCR and Bottler hereby further agree that Bottler (and its subsidiaries) will make such capital

  
 Classified - Confidential

 
expenditures in the aggregate for the entire CCBCC Group Territory as would be necessary to comply with CBA Section 14.2, as modified by Section 14.3 of the
Regional Manufacturing Agreement, dated as of the date hereof (the “RMA”), by and between Company and CCBCC, if such requirements applied to the entire CCBCC Group Territory. Any breach by Bottler of its agreements in this letter
with respect to the modified Volume Per Capita performance standard or capital expenditure requirement described herein will be deemed a breach of each CBA and, if applicable, the RMA, and Company will be entitled to exercise all of its rights
thereunder as a result of any such breach. 
 Each of Company and Bottler further agree that the terms of that certain Expanding
Participating Bottler Revenue Incidence Agreement, effective January 1, 2017, by and between Company and CCBCC, will continue to apply to each of Piedmont and CCBC Wilmington and with respect to the entire CCBCC Group Territory, and each of
Piedmont and CCBC Wilmington will be considered a party to such Expanding Participating Bottler Revenue Incidence Agreement for all purposes thereof. 

Finally, in connection with the execution of the RMA, Company and CCBCC agree and acknowledge that the RMA now incorporates key provisions of
that certain letter agreement regarding CCNA Exchange for Regional Producing Bottlers, dated April 29, 2016 (the “CCNA Exchange Letter”), by and between Company and CCBCC. Accordingly, Company and CCBCC therefore agree that
such CCNA Exchange Letter is hereby terminated and superseded in its entirety as of the Effective Date by the RMA. 
 As used herein,
“CBA” means, collectively, (a) that certain Comprehensive Beverage Agreement Form EPB First-Line and Sub-Bottling, dated as of the date hereof (the “CCBCC CBA”), by and
between Company, CCR and CCBCC, (b) that certain Comprehensive Beverage Agreement Form EPB First-Line, dated as of the date hereof (the “Piedmont CBA”), by and between Company and Piedmont, (c) that certain Comprehensive
Beverage Agreement Form EPB First-Line, dated as of the date hereof (the “Marion CBA”), by and between Company and Piedmont, and (d) that certain Comprehensive Beverage Agreement Form EPB First-Line, dated as of the date hereof
(the “CCBC Wilmington CBA”), by and between Company and CCBC Wilmington, as each of the foregoing may be amended. As used herein, “CCBCC Group Territory” means, collectively, the “Territory” under the
CCBCC CBA and the “First-Line Territory” under each of the Piedmont CBA, the Marion CBA and the CCBC Wilmington CBA. 
 Company,
CCR and Bottler expressly reserve and do not waive hereunder any and all rights under the CBA, the RMA or any other agreement. Company, CCR and Bottler agree that the contents of this letter are confidential and that none of the parties may discuss
or disclose any of the provisions herein without the express written permission of the other parties, except (a) as required under applicable securities laws, legal process or other laws, (b) that each party may disclose the contents of
this letter to those of its directors, officers, employees, lenders, potential financing sources and representatives of its legal, accounting and financial advisors (the persons to whom such disclosure is permissible being collectively referred to
herein as “Representatives”) who have a need to know such information as long as such Representatives are informed of the confidential and proprietary nature of the information. The parties agree that the merger, integration and
similar provisions in the CBA and RMA stating that such CBA or RMA encompasses all agreements between the parties and supersedes all prior agreements will 

  
 Classified - Confidential

 2 

 
not have any effect on the validity and continuance of the provisions of this letter, and Company, CCR and Bottler agree never to assert that this letter has been superseded by a merger,
integration or similar provision of the CBA or RMA unless the parties specifically state in such CBA or RMA that they intend to modify or supersede this letter by making specific reference to this letter. Except as expressly modified herein, each of
the CBA and RMA will continue in full force and effect in accordance with their respective terms. 
 Please acknowledge your acceptance of
the foregoing by signing where indicated below and returning it to us. 
 [Remainder of page intentionally left blank; signature page
follows] 

  
 Classified - Confidential

 3 

 
	
	Very truly yours,
	
	/s/ J. Alexander M. Douglas, Jr.
	
	J. Alexander M. Douglas, Jr.
	 President, Coca-Cola North America
 and
Authorized Signatory for CCR

  

							
	Agreed to and Accepted as of the date first written above:
	
	COCA-COLA BOTTLING CO. CONSOLIDATED
		
	By:	 	 /s/ E. Beauregarde Fisher III

		 	Name:	 	E. Beauregarde Fisher III
		 	Title:	 	Executive Vice President & General Counsel
	
	PIEDMONT COCA-COLA BOTTLING PARTNERSHIP
		
	By:	 	Coca-Cola Bottling Co. Consolidated, its Manager
			
		 	By:	 	 /s/ E. Beauregarde Fisher III

		 		 	Name:	 	E. Beauregarde Fisher III
		 		 	Title:	 	Executive Vice President & General Counsel
	
	CCBC OF WILMINGTON, INC.
		
	By:	 	 /s/ Lawrence K. Workman, Jr.

		 	Name:	 	Lawrence K. Workman, Jr.
		 	Title:	 	Vice PresidentExhibit 10.2

 Exhibit 10.2 
  

 
 COCA-COLA PLAZA 

ATLANTA, GEORGIA 
  

					
	 J. ALEXANDER M. DOUGLAS, JR.

PRESIDENT, COCA-COLA NORTH AMERICA
	 		  	 P. O. BOX 1734

ATLANTA, GA 30301

——
 404 676-4421
 FAX
404-598-4421

 March 31, 2017 

Coca-Cola Bottling Co. Consolidated 
 Piedmont Coca-Cola Bottling
Partnership 
 CCBC of Wilmington, Inc. 
 4100 Coca-Cola Plaza

 Charlotte, North Carolina 28211 
 Attention: J. Frank
Harrison III 
 Re: Request for Certain Advance Waivers for Ancillary Businesses under the CBA 

Dear Frank: 
 This Letter Agreement amends,
restates and replaces in its entirety that certain Letter Agreement, dated October 30, 2015, “Re: CCBCC’s Request for Certain Advance Waivers for Ancillary
Businesses under the Comprehensive Beverage Agreement.” 
 In light of the specific facts and
circumstances related to its corporate structure, each of Coca-Cola Bottling Co Consolidated (“CCBCC”) and its Affiliates Piedmont Coca-Cola Bottling Partnership (“Piedmont”)
and CCBC of Wilmington, Inc. (“CCBC Wilmington” and, collectively with CCBCC and Piedmont, “Bottler”), have asked that The Coca-Cola Company (“TCCC”) provide certain advance waivers under the CBA
(as defined below) with respect to CCBCC’s acquisition or development of certain lines of business involving beverage activity that would otherwise be prohibited under the CBA. Defined terms used in this Letter Agreement have the meaning
specified in the CBA, unless otherwise noted. 
 We have agreed that the provision or sale of Beverages, Beverage Components and other
beverage products not authorized or permitted by the CBA will be permitted if provided or sold solely for internal consumption by employees and guests of CCBCC and its Affiliates. Generally, CCBCC and its Affiliates would intend and anticipate that
Covered Beverages would be offered in every beverage category in which TCCC participates. 
 In connection with Bottler’s execution of
the CBA, and as a condition to the prior consent of TCCC to the potential acquisition or development of certain lines of business identified in Section 2 of this Letter Agreement, Bottler hereby agrees to a “Focus
Period”. The Focus Period began on May 23, 2014 upon Bottler’s acquisition of the Johnson City, TN and Morristown TN distribution territories, and will continue until January 1, 2020. 

 1. During the Focus Period, Bottler and its Affiliates will not acquire or develop any line of
business without TCCC prior written consent, which consent will not be unreasonably withheld. However, during the Focus Period, Bottler or any of its Affiliates may continue to: 

 

	 	A.	develop the lines of business listed on Attachment A to this Letter Agreement (the “Existing Lines of Business”) and, upon advance written notice to TCCC, may acquire a “bolt on” (i.e.,
acquisition of a business in the same line of business) to any Existing Line of Business, so long as, (i) in the case of any business other than Red Classic Services LLC, any such development or acquisition refrains from using any delivery
vehicles, cases, cartons, coolers, vending machines or other equipment bearing TCCC’s Trademarks and assigning personnel or management whose primary duties relate to delivery or sales of Covered Beverages or Related Products (other than
executive officers of CCBCC), and (ii) in the case of Red Classic Services LLC, CCBCC and its Affiliates comply with the conditions set forth in Attachment A; and 

 

	 	B.	to the extent not prohibited under CCBCC’s Regional Manufacturing Agreement, provide contract manufacturing services for Beverages, Beverage Products and other beverage products that may be distributed, sold,
marketed, dealt in or otherwise used or handled by third parties. 

 2. After the expiration of the Focus Period, 

 

	 	A.	Consent of TCCC (which consent will not be unreasonably withheld) will only be required for acquisition or development by Bottler or its Affiliates of: 

 

	 	i.	any grocery, quick service restaurant, or convenience and petroleum store business engaged in the sale of Beverages, Beverage Components and other beverage products not otherwise authorized or permitted by the CBA
(“Prohibited Beverages”); or 

  

	 	ii.	any other line of business engaged in the preparation, distribution, sale, dealing in or otherwise using or handling (collectively, “Beverage Activities”) of Prohibited Beverages in which all Beverage
Activities constitute in the aggregate more than ten percent (10%) of the net sales of such ancillary business; provided such consent will not be required for any bolt on acquisition or development by Red Classic Services LLC;
provided, further, the conditions set forth in Attachment A to this Letter Agreement will continue to apply to any such acquisition or development. 

 

	 	B.	 In all other cases, Bottler or its Affiliates may develop or acquire any line of business without prior consent
of TCCC, so long as Bottler and its Affiliates refrain from using any delivery vehicles, cases, cartons, coolers, vending machines or other equipment bearing TCCC’s Trademarks and assigning personnel or management whose primary duties relate to
delivery or sales of Covered Beverages or Related Products (other than executive officers of CCBCC) with respect to such line of business and provide TCCC 

	 	
with at least thirty (30) days’ prior written notice of the proposed line of business. If requested by TCCC within five (5) business days of TCCC’s receipt of such notice, the
two most senior executive officers of CCBCC will discuss the proposed line of business with representatives of TCCC. 

 As
used herein “CBA” means, collectively, (a) that certain Comprehensive Beverage Agreement Form EPB First-Line and Sub-Bottling, dated as of the date hereof, by and between TCCC, CCR and
CCBCC, (b) that certain Comprehensive Beverage Agreement Form EPB First-Line, dated as of the date hereof, by and between TCCC and Piedmont, (c) that certain Comprehensive Beverage Agreement Form EPB
First-Line, dated as of the date hereof, by and between TCCC and Piedmont, and (d) that certain Comprehensive Beverage Agreement Form EPB First-Line, dated as of the date hereof, by and between Company and CCBC Wilmington, as each of the
foregoing may be amended from time to time. 
 Except as expressly set forth in this Letter Agreement, as applied solely to Bottler, TCCC
expressly reserves and does not waive hereunder any and all rights under the CBA or any other agreement. TCCC and Bottler agree that the contents of this Letter Agreement are confidential and that none of the parties may discuss or disclose any of
the provisions herein without the express written permission of the other parties, except (i) as required under applicable securities laws, legal process or other laws, (ii) that each party may disclose the contents of this Letter
Agreement to those of its directors, officers, employees, lenders, potential financing sources and representatives of its legal, accounting and financial advisors (the persons to whom such disclosure is permissible being collectively referred to
herein as “Representatives”) who have a need to know such information as long as such Representatives are informed of the confidential and proprietary nature of the information. The parties agree that the merger, integration and
similar provisions in each CBA stating that such CBA encompasses all agreements between the parties and supersedes all prior agreements will not have any effect on the validity and continuance of the provisions of this Letter Agreement, and TCCC and
Bottler agree never to assert that this Letter Agreement has been superseded by a merger, integration or similar provision of any CBA unless the parties specifically state in such CBA that they intend to modify or supersede this Letter Agreement by
making specific reference to this Letter Agreement. 
 [Remainder of page intentionally left blank; signature page follows] 

 
	
	Very truly yours,
	
	/s/ J. Alexander M. Douglas, Jr.
	
	J. Alexander M. Douglas, Jr.
	 President, Coca-Cola North America
 and
Authorized Signatory for CCR

  

							
	 Agreed to and Accepted
 as of the
date first written above:

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

		 	Name:	 	Umesh M. Kasbekar
		 	Title:	 	Vice Chairman
	
	PIEDMONT COCA-COLA BOTTLING PARTNERSHIP

							
		
	By:	 	Coca-Cola Bottling Co. Consolidated,
		 	its Manager
			
		 	By:	 	 /s/ Umesh M. Kasbekar

		 		 	Name:	 	Umesh M. Kasbekar
		 		 	Title:	 	Vice Chairman

							
	
	CCBC OF WILMINGTON, INC.
		
	By:	 	 /s/ Umesh M. Kasbekar

		 	Name:	 	Umesh M. Kasbekar
		 	Title:	 	Vice President, Secretary

 Attachment A 

Existing Lines of Business 
  

	1.	Red Classic Services LLC — An over-the-road transportation and freight brokerage business, as described and conditioned in
Schedule 2.31 and Schedule 2.33 of the CBA, which description and conditions may be amended by agreement of the parties. 

  

	2.	Swift Water Logistics, Inc. – A broad array of logistical supply chain products and services. This business includes (i) assessing supply chain systems, (ii) advising regarding potential solutions,
(iii) developing, manufacturing, integrating and implementing processes, tools and solutions across the supply chain, and (iv) providing supply chain and operational services, including supply chain management, project management, network
strategy planning, territory planning and dispatch management, warehouse management and delivery and merchandising. 

  

	3.	Data Ventures Inc. - Develops and provides analytics product suites, analytics services and consulting services for a wide variety of industries. These product suites and services include data warehousing and access
solutions, shopper segmentation/clustering analytics, out of stock/shelf analytics, shopper behavior analytics, pricing and promotion analytics and product assortment analytics. 

 

	4.	Equipment Reutilization Solutions LLC - Provides manufacturing and maintenance services for heating, ventilation and air conditioning systems, including equipment employing refrigeration systems. These services include
manufacturing, installation, periodic maintenance service, and repair of mechanical and fluid systems employed in the beverage business, such as fountain dispenser equipment, vending equipment, and fast lane/cold carton merchandizing equipment used
in the beverage and other businesses. 

  

	5.	Third-party logistics services (“3PL Services”) and fourth-party logistics services (“4PL Services”). 3PL Services include the performance of outsourced logistics activities, such as
warehousing, inventory management, pick and pack services, and other value added services including those that have been performed traditionally within an organization itself. 4PL Services include acting as an integrator that assembles the
resources, capabilities and technology to design and build, execute and manage comprehensive supply chain solutions. 

  

	6.	Management services and shared services to third parties such as cooperatives, joint ventures and other entities engaged in bottling, beverage and/or other businesses that produce or distribute beverage products under
license from TCCC.

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