Document:

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                                                                    Exhibit 10.2

                        COMMERCIAL PAPER DEALER AGREEMENT

Between:

SYSCO CORPORATION, as Issuer

and

J.P. MORGAN SECURITIES INC., as Dealer

Concerning Notes to be issued pursuant to an Issuing and Paying Agency Agreement
dated as of April 13, 2006 between the Issuer and JPMorgan Chase Bank, N. A., as
Issuing and Paying Agent

Dated as of

April 13, 2006

COMMERCIAL PAPER DEALER AGREEMENT
4(2) PROGRAM

This agreement (the "Agreement") sets forth the understandings between the
Issuer and the Dealer, each named on the cover page hereof, in connection with
the issuance and sale by the Issuer of its short-term promissory notes (the
"Notes") through the Dealer.

Certain terms used in this Agreement are defined in Section 6 hereof.

The Addendum to this Agreement, and any Annexes or Exhibits described in this
Agreement or such Addendum, are hereby incorporated into this Agreement and made
fully a part hereof.

1.   OFFERS, SALES AND RESALES OF NOTES.

     1.1  While (i) the Issuer has and shall have no obligation to sell the
          Notes to the Dealer or to permit the Dealer to arrange any sale of the
          Notes for the account of the Issuer, and (ii) the Dealer has and shall
          have no obligation to purchase the Notes from the Issuer or to arrange
          any sale of the Notes for the account of the Issuer, the parties
          hereto agree that in any case where the Dealer purchases Notes from
          the Issuer, or arranges for the sale of Notes by the Issuer, such
          Notes will be purchased or sold by the Dealer in reliance on the
          representations, warranties, covenants and agreements of the Issuer
          contained herein or made pursuant hereto and on the terms and
          conditions and in the manner provided herein.

     1.2  So long as this Agreement shall remain in effect, and in addition to
          the limitations contained in Section 1.7 hereof, the Issuer shall not,
          without the consent of the Dealer, offer, solicit or accept offers to
          purchase, or sell, any Notes except (a) in transactions with one or
          more dealers which

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          may from time to time after the date hereof become dealers with
          respect to the Notes by executing with the Issuer one or more
          agreements which contain provisions substantially identical to those
          contained in Section 1 of this Agreement, of which the Issuer hereby
          undertakes to provide the Dealer prompt notice or (b) in transactions
          with the other dealers listed on the Addendum hereto, which are
          executing agreements with the Issuer which contain provisions
          substantially identical to Section 1 of this Agreement
          contemporaneously herewith. In no event shall the Issuer offer,
          solicit or accept offers to purchase, or sell, any Notes directly on
          its own behalf in transactions with persons other than broker-dealers
          as specifically permitted in this Section 1.2.

     1.3  The Notes shall be in a minimum denomination of $250,000 or integral
          multiples of $1,000 in excess thereof, will bear such interest rates,
          if interest bearing, or will be sold at such discount from their face
          amounts, as shall be agreed upon by the Dealer and the Issuer, shall
          have a maturity not exceeding 270 days from the date of issuance and
          may have such terms as are specified in Exhibit C hereto or the
          Private Placement Memorandum.(1) The Notes shall not contain any
          provision for extension, renewal or automatic "rollover."

     1.4  The authentication and issuance of, and payment for, the Notes shall
          be effected in accordance with the Issuing and Paying Agency
          Agreement, and the Notes shall be either individual physical
          certificates or book-entry notes evidenced by one or more master notes
          (each, a "Master Note") registered in the name of The Depository Trust
          Company ("DTC") or its nominee, in the form or forms annexed to the
          Issuing and Paying Agency Agreement. (2)

     1.5  If the Issuer and the Dealer shall agree on the terms of the purchase
          of any Note by the Dealer or the sale of any Note arranged by the
          Dealer (including, but not limited to, agreement with respect to the
          date of issue, purchase price, principal amount, maturity and interest
          rate or interest rate index and margin (in the case of
          interest-bearing Notes) or discount thereof (in the case of Notes
          issued on a discount basis), and appropriate compensation for the
          Dealer's services hereunder) pursuant to this Agreement, the Issuer
          shall cause such Note to be issued and delivered in accordance with
          the terms of the Issuing and Paying Agency Agreement and payment for
          such Note shall be made by the purchaser thereof, either directly or
          through the Dealer, to the Issuing and Paying Agent, for the account
          of the Issuer. Except as otherwise agreed, in the event that the
          Dealer is acting as an agent and a purchaser shall either fail to
          accept delivery of or make payment for a Note on the date fixed for
          settlement, the Dealer shall promptly notify the Issuer, and if the
          Dealer has theretofore paid the Issuer for the Note, the Issuer will
          promptly return such funds to the Dealer against its return of the
          Note to the Issuer, in the case of a certificated Note, and upon
          notice of such failure in the case of a book-entry Note. If such
          failure occurred for any reason other than default by the Dealer, the
          Issuer shall reimburse the Dealer on an equitable basis for the
          Dealer's loss of the use of such funds for the period such funds were
          credited to the Issuer's account.

     1.6  The Dealer and the Issuer hereby establish and agree to observe the
          following procedures in connection with offers, sales and subsequent
          resales or other transfers of the Notes:

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(1)  In the event that, in order to be exempt from the definition of "investment
     company" under the Investment Company Act of 1940, the Issuer must rely on
     Section 3(c)(1) of that Act, the maturity of the Notes may not exceed 270
     days.

(2)  If the form or forms of Notes are not annexed to the Issuing and Paying
     Agency Agreement, they should be annexed to this Agreement or delivered to
     the Dealer, with appropriate certification by the Secretary of the Issuer,
     pursuant to section 3.6 of the Agreement.

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          (a)  Offers and sales of the Notes by or through the Dealer shall be
               made only to: (i) investors reasonably believed by the Dealer to
               be Qualified Institutional Buyers, Institutional Accredited
               Investors or Sophisticated Individual Accredited Investors and
               (ii) non-bank fiduciaries or agents that will be purchasing Notes
               for one or more accounts, each of which is reasonably believed by
               the Dealer to be an Institutional Accredited Investor or
               Sophisticated Individual Accredited Investor.

          (b)  Resales and other transfers of the Notes by the holders thereof
               shall be made only in accordance with the restrictions in the
               legend described in clause (e) below.

          (c)  No general solicitation or general advertising shall be used in
               connection with the offering of the Notes. Without limiting the
               generality of the foregoing, without the prior written approval
               of the Dealer, the Issuer shall not issue any press release or
               place or publish any "tombstone" or other advertisement relating
               to the Notes.

          (d)  No sale of Notes to any one purchaser shall be for less than
               $250,000 principal or face amount, and no Note shall be issued in
               a smaller principal or face amount. If the purchaser is a
               non-bank fiduciary acting on behalf of others, each person for
               whom such purchaser is acting must purchase at least $250,000
               principal or face amount of Notes.

          (e)  Offers and sales of the Notes by the Issuer through the Dealer
               acting as agent for the Issuer shall be made in accordance with
               Rule 506 under the Securities Act, and shall be subject to the
               restrictions described in the legend appearing on Exhibit A
               hereto. A legend substantially to the effect of such Exhibit A
               shall appear as part of the Private Placement Memorandum used in
               connection with offers and sales of Notes hereunder, as well as
               on each individual certificate representing a Note and each
               Master Note representing book-entry Notes offered and sold
               pursuant to this Agreement.

          (f)  The Dealer shall furnish or shall have furnished to each
               purchaser of Notes for which it has acted as the Dealer a copy of
               the then-current Private Placement Memorandum unless such
               purchaser has previously received a copy of the Private Placement
               Memorandum as then in effect. The Private Placement Memorandum
               shall expressly state that any person to whom Notes are offered
               shall have an opportunity to ask questions of, and receive
               information from, the Issuer and the Dealer and shall provide the
               names, addresses and telephone numbers of the persons from whom
               information regarding the Issuer may be obtained.

          (g)  The Issuer agrees, for the benefit of the Dealer and each of the
               holders and prospective purchasers from time to time of the Notes
               that, if at any time the Issuer shall not be subject to Section
               13 or 15(d) of the Exchange Act, the Issuer will furnish, upon
               request and at its expense, to the Dealer and to holders and
               prospective purchasers of Notes information required by Rule
               144A(d)(4)(i) in compliance with Rule 144A(d).

          (h)  In the event that any Note offered or to be offered by the Dealer
               would be ineligible for resale under Rule 144A, the Issuer shall
               immediately notify the Dealer (by telephone, confirmed in
               writing) of such fact and shall promptly prepare and deliver to
               the Dealer an amendment or supplement to the Private Placement
               Memorandum describing the Notes that

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               are ineligible, the reason for such ineligibility and any other
               relevant information relating thereto.

          (i)  The Issuer represents that it is not currently issuing commercial
               paper in the United States market in reliance upon the exemption
               provided by Section 3(a)(3) of the Securities Act. The Issuer
               agrees that, if it shall issue commercial paper after the date
               hereof in reliance upon such exemption(3) (a) the proceeds from
               the sale of the Notes will be segregated from the proceeds of the
               sale of any such commercial paper by being placed in a separate
               account; (b) the Issuer will institute appropriate corporate
               procedures to ensure that the offers and sales of notes issued by
               the Issuer pursuant to the Section 3(a)(3) exemption are not
               integrated with offerings and sales of Notes hereunder; and (c)
               the Issuer will comply with each of the requirements of Section
               3(a)(3) of the Securities Act in selling commercial paper or
               other short-term debt securities other than the Notes in the
               United States.

     1.7  The Issuer hereby represents and warrants to the Dealer, in connection
          with offers, sales and resales of Notes, as follows:

          (a)  The Issuer hereby confirms to the Dealer that (except as
               permitted by Section 1.6(i)) within the preceding six months
               neither the Issuer nor any person other than the Dealer or the
               other dealers referred to in Section 1.2 hereof acting on behalf
               of the Issuer has offered or sold any Notes, or any substantially
               similar security of the Issuer (including, without limitation,
               medium-term notes issued by the Issuer), to, or solicited offers
               to buy any such security from, any person other than the Dealer
               or the other dealers referred to in Section 1.2 hereof. The
               Issuer also agrees that (except as permitted by Section 1.6(i)),
               as long as the Notes are being offered for sale by the Dealer and
               the other dealers referred to in Section 1.2 hereof as
               contemplated hereby and until at least six months after the offer
               of Notes hereunder has been terminated, neither the Issuer nor
               any person other than the Dealer or the other dealers referred to
               in Section 1.2 hereof (except as contemplated by Section 1.2
               hereof) will offer the Notes or any substantially similar
               security of the Issuer for sale to, or solicit offers to buy any
               such security from, any person other than the Dealer or the other
               dealers referred to in Section 1.2 hereof, it being understood
               that such agreement is made with a view to bringing the offer and
               sale of the Notes within the exemption provided by Section 4(2)
               of the Securities Act and Rule 506 thereunder and shall survive
               any termination of this Agreement. The Issuer hereby represents
               and warrants that it has not taken or omitted to take, and will
               not take or omit to take, any action that would cause the
               offering and sale of Notes hereunder to be integrated with any
               other offering of securities, whether such offering is made by
               the Issuer or some other party or parties.

          (b)  The Issuer will use the proceeds of the sale of the Notes from
               time to time for the purpose of buying, carrying or trading
               securities within the meaning of Regulation T and the
               interpretations thereunder by the Board of Governors of the
               Federal Reserve System. As a result, in the event that the Dealer
               purchases Notes as principal and does not resell such Notes on
               the day of such purchase, to the extent necessary to comply with
               Regulation T and the interpretations thereunder, the Dealer will
               sell such Notes either (i) only to offerees it

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(3)  For use when the Issuer is not currently issuing 3(a)(3) commercial paper.

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               reasonably believes to be Qualified Institutional Buyers or to
               Qualified Institutional Buyers it reasonably believes are acting
               for other Qualified Institutional Buyers, in each case in
               accordance with Rule 144A or (ii) in a manner which would not
               cause a violation of Regulation T and the interpretations
               thereunder.

2.   REPRESENTATIONS AND WARRANTIES OF ISSUER.
     The Issuer represents and warrants that:

     2.1  The Issuer is a corporation duly organized, validly existing and in
          good standing under the laws of the jurisdiction of its incorporation
          and has all the requisite power and authority to execute, deliver and
          perform its obligations under the Notes, this Agreement and the
          Issuing and Paying Agency Agreement.

     2.2  This Agreement and the Issuing and Paying Agency Agreement have been
          duly authorized, executed and delivered by the Issuer and constitute
          legal, valid and binding obligations of the Issuer enforceable against
          the Issuer in accordance with their terms, subject to applicable
          bankruptcy, insolvency and similar laws affecting creditors' rights
          generally, and subject, as to enforceability, to general principles of
          equity (regardless of whether enforcement is sought in a proceeding in
          equity or at law).

     2.3  The Notes have been duly authorized, and when issued as provided in
          the Issuing and Paying Agency Agreement, will be duly and validly
          issued and will constitute legal, valid and binding obligations of the
          Issuer enforceable against the Issuer in accordance with their terms,
          subject to applicable bankruptcy, insolvency and similar laws
          affecting creditors' rights generally, and subject, as to
          enforceability, to general principles of equity (regardless of whether
          enforcement is sought in a proceeding in equity or at law).

     2.4  The offer and sale of the Notes in the manner contemplated hereby do
          not require registration of the Notes under the Securities Act,
          pursuant to the exemption from registration contained in Section 4(2)
          thereof, and no indenture in respect of the Notes is required to be
          qualified under the Trust Indenture Act of 1939, as amended.

     2.5  There is and will be no other unsecured indebtedness of Issuer
          outstanding that is or will be contractually entitled to be senior in
          right of payment to the Notes.

     2.6  Except as provided in Section 1.6(j) hereof,(4) no consent or action
          of, or filing or registration with, any governmental or public
          regulatory body or authority, including the SEC, is required to
          authorize, or is otherwise required in connection with the execution,
          delivery or performance of, this Agreement, the Notes or the Issuing
          and Paying Agency Agreement, except as may be required by the
          securities or Blue Sky laws of the various states in connection with
          the offer and sale of the Notes.

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(4)  For use where the parties wish to fully rely on the safe harbor in Rule
     506. See Addendum paragraph 2.

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     2.7  Neither the execution and delivery of this Agreement and the Issuing
          and Paying Agency Agreement, nor the issuance of the Notes in
          accordance with the Issuing and Paying Agency Agreement, nor the
          fulfillment of or compliance with the terms and provisions hereof or
          thereof by the Issuer, will (i) result in the creation or imposition
          of any mortgage, lien, charge or encumbrance of any nature whatsoever
          upon any of the properties or assets of the Issuer, or (ii) violate or
          result in a breach or a default under any of the terms of the Issuer's
          charter documents or by-laws, any contract or instrument to which the
          Issuer is a party or by which it or its property is bound, or any law
          or regulation, or any order, writ, injunction or decree of any court
          or government instrumentality, to which the Issuer is subject or by
          which it or its property is bound, which breach or default might have
          a material adverse effect on the condition (financial or otherwise),
          operations or business prospects of the Issuer or the ability of the
          Issuer to perform its obligations under this Agreement, the Notes or
          the Issuing and Paying Agency Agreement.

     2.8  There is no litigation or governmental proceeding pending, or to the
          knowledge of the Issuer threatened, against or affecting the Issuer or
          any of its subsidiaries which might result in a material adverse
          change in the condition (financial or otherwise), operations or
          business prospects of the Issuer or the ability of the Issuer to
          perform its obligations under this Agreement, the Notes or the Issuing
          and Paying Agency Agreement.

     2.9  The Issuer is not an "investment company" within the meaning of the
          Investment Company Act of 1940, as amended.(5)

     2.10 Neither the Private Placement Memorandum nor the Company Information
          contains any untrue statement of a material fact or omits to state a
          material fact required to be stated therein or necessary to make the
          statements therein, in light of the circumstances under which they
          were made, not misleading.

     2.11 Each (a) issuance of Notes by the Issuer hereunder and (b) amendment
          or supplement of the Private Placement Memorandum shall be deemed a
          representation and warranty by the Issuer to the Dealer, as of the
          date thereof, that, both before and after giving effect to such
          issuance and after giving effect to such amendment or supplement, (i)
          the representations and warranties given by the Issuer set forth in
          this Section 2 remain true and correct on and as of such date as if
          made on and as of such date, (ii) in the case of an issuance of Notes,
          the Notes being issued on such date have been duly and validly issued
          and constitute legal, valid and binding obligations of the Issuer,
          enforceable against the Issuer in accordance with their terms, subject
          to applicable bankruptcy, insolvency and similar laws affecting
          creditors' rights generally and subject, as to enforceability, to
          general principles of equity (regardless of whether enforcement is
          sought in a proceeding in equity or at law) and (iii) in the case of
          an issuance of Notes, since the date of the most recent Private
          Placement Memorandum, there has been no material adverse change in the
          condition (financial or otherwise), operations or business prospects
          of the Issuer which has not been disclosed to the Dealer in writing.

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(5)  The phrase "or an entity controlled by an investment company" is not
     included in this representation or in the related paragraph in the Model
     Opinion (paragraph 8). See Guidance Note to Section 2.9 for a description
     of the limited circumstances where this phrase should be included.

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3.   COVENANTS AND AGREEMENTS OF ISSUER.
     The Issuer covenants and agrees that:

     3.1  The Issuer will give the Dealer prompt notice (but in any event prior
          to any subsequent issuance of Notes hereunder) of any amendment to,
          modification of or waiver with respect to, the Notes or the Issuing
          and Paying Agency Agreement, including a complete copy of any such
          amendment, modification or waiver.

     3.2  The Issuer shall, whenever there shall occur any change in the
          Issuer's condition (financial or otherwise), operations or business
          prospects or any development or occurrence in relation to the Issuer
          that would be material to holders of the Notes or potential holders of
          the Notes (including any downgrading or receipt of any notice of
          intended or potential downgrading or any review for potential change
          in the rating accorded any of the Issuer's securities by any
          nationally recognized statistical rating organization which has
          published a rating of the Notes), promptly, and in any event prior to
          any subsequent issuance of Notes hereunder, notify the Dealer (by
          telephone, confirmed in writing) of such change, development or
          occurrence.

     3.3  The Issuer shall from time to time furnish to the Dealer such
          information as the Dealer may reasonably request, including, without
          limitation, any press releases or material provided by the Issuer to
          any national securities exchange or rating agency, regarding (i) the
          Issuer's operations and financial condition, (ii) the due
          authorization and execution of the Notes and (iii) the Issuer's
          ability to pay the Notes as they mature.

     3.4  The Issuer will take all such action as the Dealer may reasonably
          request to ensure that each offer and each sale of the Notes will
          comply with any applicable state Blue Sky laws; provided, however,
          that the Issuer shall not be obligated to file any general consent to
          service of process or to qualify as a foreign corporation in any
          jurisdiction in which it is not so qualified or subject itself to
          taxation in respect of doing business in any jurisdiction in which it
          is not otherwise so subject.

     3.5  The Issuer will not be in default of any of its obligations hereunder,
          under the Notes or under the Issuing and Paying Agency Agreement, at
          any time that any of the Notes are outstanding.

     3.6  The Issuer shall not issue Notes hereunder until the Dealer shall have
          received (a) an opinion of counsel to the Issuer, addressed to the
          Dealer, satisfactory in form and substance to the Dealer, (b) a copy
          of the executed Issuing and Paying Agency Agreement as then in effect,
          (c) a copy of resolutions adopted by the Board of Directors of the
          Issuer, satisfactory in form and substance to the Dealer and certified
          by the Secretary or similar officer of the Issuer, authorizing
          execution and delivery by the Issuer of this Agreement, the Issuing
          and Paying Agency Agreement and the Notes and consummation by the
          Issuer of the transactions contemplated hereby and thereby, (d) prior
          to the issuance of any book-entry Notes represented by a master note
          registered in the name of DTC or its nominee, a copy of the executed
          Letter of Representations among the Issuer, the Issuing and Paying
          Agent and DTC and of the executed master note, (e) prior to the
          issuance of any Notes in physical form, a copy of such form (unless
          attached to this Agreement or the Issuing and Paying Agency Agreement)
          and (f) such other certificates, opinions, letters and documents as
          the Dealer shall have reasonably requested.

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     3.7  The Issuer shall reimburse the Dealer for all of the Dealer's
          out-of-pocket expenses related to this Agreement, including expenses
          incurred in connection with its preparation and negotiation, and the
          transactions contemplated hereby (including, but not limited to, the
          printing and distribution of the Private Placement Memorandum), and,
          if applicable, for the reasonable fees and out-of-pocket expenses of
          the Dealer's counsel.

4.   DISCLOSURE.

     4.1  The Private Placement Memorandum and its contents (other than the
          Dealer Information) shall be the sole responsibility of the Issuer.
          The Private Placement Memorandum shall contain a statement expressly
          offering an opportunity for each prospective purchaser to ask
          questions of, and receive answers from, the Issuer concerning the
          offering of Notes and to obtain relevant additional information which
          the Issuer possesses or can acquire without unreasonable effort or
          expense.

     4.2  The Issuer agrees to promptly furnish the Dealer the Company
          Information as it becomes available.

     4.3  (a) The Issuer further agrees to notify the Dealer promptly upon the
          occurrence of any event relating to or affecting the Issuer that would
          cause the Company Information then in existence to include an untrue
          statement of a material fact or to omit to state a material fact
          necessary in order to make the statements contained therein, in light
          of the circumstances under which they are made, not misleading.

          (b) In the event that the Issuer gives the Dealer notice pursuant to
          Section 4.3(a) and the Dealer notifies the Issuer that it then has
          Notes it is holding in inventory, the Issuer agrees promptly to
          supplement or amend the Private Placement Memorandum so that the
          Private Placement Memorandum, as amended or supplemented, shall not
          contain an untrue statement of a material fact or omit to state a
          material fact necessary in order to make the statements therein, in
          light of the circumstances under which they were made, not misleading,
          and the Issuer shall make such supplement or amendment available to
          the Dealer. All solicitations and sales of Notes shall be suspended
          until such time as the Issuer has so amended or supplemented the
          Private Placement Memorandum, and made such amendment or supplement
          available to the Dealer

          (c) In the event that (i) the Issuer gives the Dealer notice pursuant
          to Section 4.3(a), (ii) the Dealer does not notify the Issuer that it
          is then holding Notes in inventory and (iii) the Issuer chooses not to
          promptly amend or supplement the Private Placement Memorandum in the
          manner described in clause (b) above, then all solicitations and sales
          of Notes shall be suspended until such time as the Issuer has so
          amended or supplemented the Private Placement Memorandum, and made
          such amendment or supplement available to the Dealer.

          (d) Without limiting the generality of Section 4.3(a), the Issuer
          shall review, amend and supplement the Private Placement Memorandum on
          a periodic basis, but no less than at least once annually, to
          incorporate current financial information of the Issuer to the extent
          necessary to ensure that the information provided in the Private
          Placement Memorandum is accurate and complete.

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5.   INDEMNIFICATION AND CONTRIBUTION.

     5.1  The Issuer will indemnify and hold harmless the Dealer, each
          individual, corporation, partnership, trust, association or other
          entity controlling the Dealer, any affiliate of the Dealer or any such
          controlling entity and their respective directors, officers,
          employees, partners, incorporators, shareholders, servants, trustees
          and agents (hereinafter the "Indemnitees") against any and all
          liabilities, penalties, suits, causes of action, losses, damages,
          claims, costs and expenses (including, without limitation, reasonable
          fees and disbursements of counsel) or judgments of whatever kind or
          nature (each a "Claim"), imposed upon, incurred by or asserted against
          the Indemnitees arising out of or based upon (i) any allegation that
          the Private Placement Memorandum, the Company Information or any
          information provided by the Issuer to the Dealer included (as of any
          relevant time) or includes an untrue statement of a material fact or
          omitted (as of any relevant time) or omits to state any material fact
          necessary to make the statements therein, in light of the
          circumstances under which they were made, not misleading or (ii)
          arising out of or based upon the breach by the Issuer of any
          agreement, covenant or representation made in or pursuant to this
          Agreement. This indemnification shall not apply to the extent that the
          Claim arises out of or is based upon Dealer Information.

     5.2  Provisions relating to claims made for indemnification under this
          Section 5 are set forth on Exhibit B to this Agreement.

     5.3  In order to provide for just and equitable contribution in
          circumstances in which the indemnification provided for in this
          Section 5 is held to be unavailable or insufficient to hold harmless
          the Indemnitees, although applicable in accordance with the terms of
          this Section 5, the Issuer shall contribute to the aggregate costs
          incurred by the Dealer in connection with any Claim in the proportion
          of the respective economic interests of the Issuer and the Dealer;
          provided, however, that such contribution by the Issuer shall be in an
          amount such that the aggregate costs incurred by the Dealer do not
          exceed the aggregate of the commissions and fees earned by the Dealer
          hereunder with respect to the issue or issues of Notes to which such
          Claim relates. The respective economic interests shall be calculated
          by reference to the aggregate proceeds to the Issuer of the Notes
          issued hereunder and the aggregate commissions and fees earned by the
          Dealer hereunder.

6.   DEFINITIONS.

     6.1  "Claim" shall have the meaning set forth in Section 5.1.

     6.2  "Company Information" at any given time shall mean the Private
          Placement Memorandum together with, to the extent applicable, (i) the
          Issuer's most recent report on Form 10-K filed with the SEC and each
          report on Form 10-Q or 8-K filed by the Issuer with the SEC since the
          most recent Form 10-K, (ii) the Issuer's most recent annual audited
          financial statements and each interim financial statement or report
          prepared subsequent thereto, if not included in item (i) above, (iii)
          the Issuer's and its affiliates' other publicly available recent
          reports, including, but not limited to, any publicly available filings
          or reports provided to their respective shareholders, (iv) any other
          information or disclosure prepared pursuant to Section 4.3 hereof and
          (v) any information prepared or approved by the Issuer for
          dissemination to investors or potential investors in the Notes.

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     6.3  "Dealer Information" shall mean material concerning the Dealer
          provided by the Dealer in writing expressly for inclusion in the
          Private Placement Memorandum.

     6.4  "Exchange Act" shall mean the U.S. Securities Exchange Act of 1934, as
          amended.

     6.5  "Indemnitee" shall have the meaning set forth in section 5.1.

     6.6  "Institutional Accredited Investor" shall mean an institutional
          investor that is an accredited investor within the meaning of Rule 501
          under the Securities Act and that has such knowledge and experience in
          financial and business matters that it is capable of evaluating and
          bearing the economic risk of an investment in the Notes, including,
          but not limited to, a bank, as defined in Section 3(a)(2) of the
          Securities Act, or a savings and loan association or other
          institution, as defined in Section 3(a)(5)(A) of the Securities Act,
          whether acting in its individual or fiduciary capacity.

     6.7  "Issuing and Paying Agency Agreement" shall mean the issuing and
          paying agency agreement described on the cover page of this Agreement,
          as such agreement may be amended or supplemented from time to time.

     6.8  "Issuing and Paying Agent" shall mean the party designated as such on
          the cover page of this Agreement, as issuing and paying agent under
          the Issuing and Paying Agency Agreement, or any successor thereto in
          accordance with the Issuing and Paying Agency Agreement.

     6.9  "Non-bank fiduciary or agent" shall mean a fiduciary or agent other
          than (a) a bank, as defined in Section 3(a)(2) of the Securities Act,
          or (b) a savings and loan association, as defined in Section
          3(a)(5)(A) of the Securities Act.

     6.10 "Private Placement Memorandum" shall mean offering materials prepared
          in accordance with Section 4 (including materials referred to therein
          or incorporated by reference therein, if any) provided to purchasers
          and prospective purchasers of the Notes, and shall include amendments
          and supplements thereto which may be prepared from time to time in
          accordance with this Agreement (other than any amendment or supplement
          that has been completely superseded by a later amendment or
          supplement).

     6.11 "Qualified Institutional Buyer" shall have the meaning assigned to
          that term in Rule 144A under the Securities Act.

     6.12 "Rule 144A" shall mean Rule 144A under the Securities Act.

     6.13 "SEC" shall mean the U.S. Securities and Exchange Commission.

     6.14 "Securities Act" shall mean the U.S. Securities Act of 1933, as
          amended.

     6.15 "Sophisticated Individual Accredited Investor" shall mean an
          individual who (a) is an accredited investor within the meaning of
          Regulation D under the Securities Act and (b) based on his or her
          pre-existing relationship with the Dealer, is reasonably believed by
          the Dealer to

<PAGE>

          be a sophisticated investor (i) possessing such knowledge and
          experience (or represented by a fiduciary or agent possessing such
          knowledge and experience) in financial and business matters that he or
          she is capable of evaluating and bearing the economic risk of an
          investment in the Notes and (ii) having not less than $5 million in
          investments (as defined, for purposes of this section, in Rule 2a51-1
          under the Investment Company Act of 1940, as amended).

7.   GENERAL

     7.1  Unless otherwise expressly provided herein, all notices under this
          Agreement to parties hereto shall be in writing and shall be effective
          when received at the address of the respective party set forth in the
          Addendum to this Agreement.

     7.2  This Agreement shall be governed by and construed in accordance with
          the laws of the State of New York, without regard to its conflict of
          laws provisions.

     7.3  Each party agrees that any suit, action or proceeding brought by the
          other against such party in connection with or arising out of this
          Agreement or the Notes or the offer and sale of the Notes shall be
          brought solely in the United States federal courts located in the
          Borough of Manhattan or the courts of the State of New York located in
          the Borough of Manhattan. EACH OF THE DEALER AND THE ISSUER WAIVES ITS
          RIGHT TO TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING WITH RESPECT
          TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

     7.4  This Agreement may be terminated, at any time, by the Issuer, upon one
          business day's prior notice to such effect to the Dealer, or by the
          Dealer upon one business day's prior notice to such effect to the
          Issuer. Any such termination, however, shall not affect the
          obligations of the Issuer under Sections 3.7, 5 and 7.3 hereof or the
          respective representations, warranties, agreements, covenants, rights
          or responsibilities of the parties made or arising prior to the
          termination of this Agreement.

     7.5  This Agreement is not assignable by either party hereto without the
          written consent of the other party; provided, however, that the Dealer
          may assign its rights and obligations under this Agreement to any
          affiliate of the Dealer that is of equal or greater creditworthiness.

     7.6  This Agreement may be signed in any number of counterparts, each of
          which shall be an original, with the same effect as if the signatures
          thereto and hereto were upon the same instrument.

     7.7  This Agreement is for the exclusive benefit of the parties hereto, and
          their respective permitted successors and assigns hereunder, and shall
          not be deemed to give any legal or equitable right, remedy or claim to
          any other person whatsoever.

     7.8  The Issuer acknowledges and agrees that (i) the purchase and sale, or
          placement, of the Notes pursuant to this Agreement are arm's-length
          commercial transactions between the Issuer, on the one hand, and the
          Dealer, on the other, (ii) in connection therewith and with the
          process leading to such transactions the Dealer is acting solely as a
          principal and not the agent (except to the

<PAGE>

          extent explicitly set forth herein) or fiduciary of the Issuer, (iii)
          the Dealer has not assumed an advisory or fiduciary responsibility in
          favor of the Issuer with respect to the offering contemplated hereby
          or the process leading thereto (irrespective of whether the Dealer has
          advised or is currently advising the Issuer on other matters) or any
          other obligation to the Issuer except the obligations expressly set
          forth in this Agreement and (iv) the Issuer has consulted its own
          legal and financial advisors to the extent it deemed appropriate. The
          Issuer agrees that it will not claim that the Dealer has rendered
          advisory services of any nature or respect, or owes a fiduciary or
          similar duty to the Issuer, in connection with such transactions or
          the process leading thereto. Any review by the Dealer of the Issuer,
          the transactions contemplated hereby or other matters relating to such
          transactions shall be performed solely for the benefit of the Dealer
          and shall not be on behalf of the Issuer.

     This Agreement supersedes all prior agreements and understandings (whether
written or oral) between the Issuer and the Dealer, or any of them, with respect
to the subject matter hereof.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
as of the date and year first above written.

SYSCO CORPORATION, AS ISSUER            J.P. MORGAN SECURITIES INC., AS DEALER

By: /s/ Kathy Oates Gish                By: /s/ Johanna C. Foley
    ---------------------------------   ----------------------------------------
Name: Kathy Oates Gish                  Name: Johanna C. Foley
Title: Vice President and Asst.         Title: Vice President
       Treasurer

<PAGE>

ADDENDUM(6)

The following additional clauses shall apply to the Agreement and be deemed a
part thereof.

1.   As of the date of this Agreement, the other dealers referred to in clause
     (b) of Section 1.2 of the Agreement are Goldman, Sachs & Co.

2.   The following changes are hereby made to the Agreement: (7)

     (a)  Section 1.6(j) is hereby added to the Agreement, as follows:

          (j)  The Issuer hereby agrees that, not later than 15 days after the
               first sale of Notes as contemplated by this Agreement, it will
               file with the SEC a notice on Form D in accordance with Rule 503
               under the Securities Act and that it will thereafter file such
               amendments to such notice as Rule 503 may require.

     (b)  Section 2.4 of the Agreement is amended by adding the words "and
          Regulation D thereunder" after the words "Section 4(2) thereof " on
          the third line of such Section.

     (c)  A new Section 6.16 is hereby added to the Agreement, as follows:

          6.16 "Regulation D" shall mean Regulation D (Rules 501 et seq.) under
          the Securities Act.

3.   The following Section 3.8 is hereby added to the Agreement:(8)

     3.8  Without limiting any obligation of the Issuer pursuant to this
          Agreement to provide the Dealer with credit and financial information,
          the Issuer hereby acknowledges and agrees that the Dealer may share
          the Company Information and any other information or matters relating
          to the Issuer or the transactions contemplated hereby with affiliates
          of the Dealer, including, but not limited to, JPMorgan Chase Bank,
          N.A.(9) and that such affiliates may likewise share information
          relating to the Issuer or such transactions with the Dealer.

4.   The addresses of the respective parties for purposes of notices under
     Section 7.1 are as follows:

For the Issuer:

Address: Sysco Corporation, 1390 Enclave Parkway, Houston, TX 77077

Attention: Kathy Oates Gish, Vice President and Asst. Treasurer

----------
(6)  There may be added to this Addendum any changes or additions to the model
     Agreement, as agreed between the parties.

(7)  For use where the parties wish to fully rely on the safe harbor in Rule
     506. See Guidance Note relating to Section 1.6 generally.

(8)  For use where the Dealer is an affiliate of a commercial bank.

(9)  Insert name of Dealer's bank affiliate.

<PAGE>

Telephone number: 281-584-1443

Fax number: 281-584-1792

For the Dealer:

Address: 270 Park Avenue - 8th Floor, New York, NY 10017

Attention: Short-Term Fixed Income Division

Telephone number: (212) 834-5543

Fax number: (212) 834-6172
<PAGE>

EXHIBIT A

FORM OF LEGEND FOR PRIVATE PLACEMENT MEMORANDUM AND NOTES

THE COMMERCIAL PAPER NOTES DESCRIBED HEREIN (THE "NOTES") HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"),
OR ANY STATE SECURITIES LAWS, AND SALES THEREOF MAY BE MADE ONLY PURSUANT TO AN
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ANY
APPLICABLE STATE SECURITIES LAWS AND TO INSTITUTIONAL INVESTORS WHICH ARE
"ACCREDITED INVESTORS" AS DEFINED IN RULE 501(a) UNDER THE SECURITIES ACT
("INSTITUTIONAL ACCREDITED INVESTORS") APPROVED BY J.P. MORGAN SECURITIES
INC.("JPMSI"). BY ITS ACCEPTANCE OF A NOTE, THE PURCHASER WILL BE DEEMED TO HAVE
REPRESENTED TO SYSCO CORPORATION (THE "COMPANY") AND JPMSI THAT (A) THE
PURCHASER IS (I) AN INSTITUTIONAL ACCREDITED INVESTOR (INCLUDING, WITHOUT
LIMITATION, A BANK, AS DEFINED IN SECTION 3(a)(2) OF THE SECURITIES ACT, OR A
SAVINGS AND LOAN ASSOCIATION OR OTHER INSTITUTION, AS DEFINED IN SECTION
3(a)(5)(A) OF THE SECURITIES ACT, WHETHER ACTING IN ITS INDIVIDUAL OR FIDUCIARY
CAPACITY, PROVIDED THAT, IF IT IS ACTING IN A FIDUCIARY CAPACITY, IT HAS SOLE
INVESTMENT DISCRETION WITH RESPECT TO ANY ACCOUNT FOR WHICH IT IS PURCHASING A
NOTE), (II) A FIDUCIARY OR AGENT (OTHER THAN A U.S. BANK OR SAVINGS AND LOAN
ASSOCIATION OF THE TYPE DESCRIBED IN CLAUSE (A)(I) OF THIS SENTENCE) PURCHASING
SUCH NOTE FOR AN ACCOUNT WHICH IS AN INSTITUTIONAL ACCREDITED INVESTOR THAT IS
PURCHASING AT LEAST $100,000 FACE AMOUNT OF NOTES OR (III) A QUALIFIED
INSTITUTIONAL BUYER ("QIB") WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES
ACT ("RULE 144A"); (B) SUCH NOTE IS BEING ACQUIRED FOR INVESTMENT AND NOT WITH A
VIEW TO, OR FOR SALE IN CONNECTION WITH, ANY DISTRIBUTION THEREOF; (C) ANY
RESALE OF SUCH NOTE WILL BE MADE ONLY (I) TO THE COMPANY, JPMSI OR ANOTHER
PERSON DESIGNATED BY THE COMPANY AS A PLACEMENT AGENT FOR SUCH NOTE (JPMSI AND
ANY SUCH OTHER PERSON TO BE REFERRED TO HEREINAFTER AS A "PLACEMENT AGENT"),
NONE OF WHICH SHALL HAVE ANY OBLIGATION TO ACQUIRE ANY SUCH NOTE, (II) THROUGH A
PLACEMENT AGENT TO AN INSTITUTIONAL INVESTOR APPROVED AS AN ACCREDITED INVESTOR
(AS DEFINED ABOVE) OR REASONABLY BELIEVED TO BE A QIB BY A PLACEMENT AGENT IN A
TRANSACTION EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT, OR (III) TO A QIB
IN A TRANSACTION THAT MEETS THE REQUIREMENTS OF RULE 144A, AND (D) IN THE CASE
OF SALES PURSUANT TO RULE 144A, IT IS A QIB PURCHASING FOR ITS OWN ACCOUNT OR
THE ACCOUNT OF ANOTHER QIB AND THE PURCHASER UNDERSTANDS THAT SUCH NOTE WAS SOLD
TO SUCH PURCHASER PURSUANT TO AN EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF
THE SECURITIES ACT PURSUANT TO RULE 144A. ANY RESALE OR OTHER TRANSFER, OR
ATTEMPTED RESALE OR OTHER TRANSFER, OTHER THAN A RESALE OR OTHER TRANSFER MADE
TO A QIB IN A TRANSACTION WHICH MEETS THE REQUIREMENTS OF RULE 144A, MADE
WITHOUT THE APPROVAL OF A PLACEMENT AGENT OR THE COMPANY SHALL BE VOID AND WILL
NOT BE RECOGNIZED BY THE COMPANY. THE NOTES AND RELATED DOCUMENTATION MAY BE
AMENDED OR SUPPLEMENTED FROM TIME TO TIME, WITHOUT THE CONSENT OF, BUT UPON
NOTICE TO, THE HOLDERS OF THE NOTES, TO MODIFY THE RESTRICTIONS ON AND
PROCEDURES FOR RESALES AND OTHER TRANSFERS OF THE NOTES TO REFLECT ANY CHANGE IN
APPLICABLE LAW OR REGULATION (OR THE INTERPRETATION THEREOF) OR IN PRACTICES
RELATING TO THE RESALE OR TRANSFER OF RESTRICTED SECURITIES GENERALLY.

<PAGE>

EXHIBIT B

FURTHER PROVISIONS RELATING TO INDEMNIFICATION

(a)  The Issuer agrees to reimburse each Indemnitee for all expenses (including
     reasonable fees and disbursements of internal and external counsel) as they
     are incurred by it in connection with investigating or defending any loss,
     claim, damage, liability or action in respect of which indemnification may
     be sought under Section 5 of the Agreement (whether or not it is a party to
     any such proceedings).

(b)  Promptly after receipt by an Indemnitee of notice of the existence of a
     Claim, such Indemnitee will, if a claim in respect thereof is to be made
     against the Issuer, notify the Issuer in writing of the existence thereof;
     provided that (i) the omission so to notify the Issuer will not relieve the
     Issuer from any liability which it may have hereunder unless and except to
     the extent it did not otherwise learn of such Claim and such failure
     results in the forfeiture by the Issuer of substantial rights and defenses,
     and (ii) the omission so to notify the Issuer will not relieve it from
     liability which it may have to an Indemnitee otherwise than on account of
     this indemnity agreement. In case any such Claim is made against any
     Indemnitee and it notifies the Issuer of the existence thereof, the Issuer
     will be entitled to participate therein, and to the extent that it may
     elect by written notice delivered to the Indemnitee, to assume the defense
     thereof, with counsel reasonably satisfactory to such Indemnitee; provided
     that if the defendants in any such Claim include both the Indemnitee and
     the Issuer, and the Indemnitee shall have concluded that there may be legal
     defenses available to it which are different from or additional to those
     available to the Issuer, the Issuer shall not have the right to direct the
     defense of such Claim on behalf of such Indemnitee, and the Indemnitee
     shall have the right to select separate counsel to assert such legal
     defenses on behalf of such Indemnitee. Upon receipt of notice from the
     Issuer to such Indemnitee of the Issuer's election so to assume the defense
     of such Claim and approval by the Indemnitee of counsel, the Issuer will
     not be liable to such Indemnitee for expenses incurred thereafter by the
     Indemnitee in connection with the defense thereof (other than reasonable
     costs of investigation) unless (i) the Indemnitee shall have employed
     separate counsel in connection with the assertion of legal defenses in
     accordance with the proviso to the next preceding sentence (it being
     understood, however, that the Issuer shall not be liable for the expenses
     of more than one separate counsel, approved by the Dealer, representing the
     Indemnitee who is party to such Claim), (ii) the Issuer shall not have
     employed counsel reasonably satisfactory to the Indemnitee to represent the
     Indemnitee within a reasonable time after notice of existence of the Claim
     or (iii) the Issuer has authorized in writing the employment of counsel for
     the Indemnitee. The indemnity, reimbursement and contribution obligations
     of the Issuer hereunder shall be in addition to any other liability the
     Issuer may otherwise have to an Indemnitee and shall be binding upon and
     inure to the benefit of any successors, assigns, heirs and personal
     representatives of the Issuer and any Indemnitee. The Issuer agrees that
     without the Dealer's prior written consent, it will not settle, compromise
     or consent to the entry of any judgment in any Claim in respect of which
     indemnification may be sought under the indemnification provision of the
     Agreement (whether or not the Dealer or any other Indemnitee is an actual
     or potential party to such Claim), unless such settlement, compromise or
     consent (i) includes an unconditional release of each Indemnitee from all
     liability arising out of such Claim and (ii) does not include a statement
     as to or an admission of fault, culpability or failure to act, by or on
     behalf of any Indemnitee.

<PAGE>

EXHIBIT C

STATEMENT OF TERMS FOR INTEREST - BEARING COMMERCIAL PAPER NOTES OF SYSCO
CORPORATION

THE PROVISIONS SET FORTH BELOW ARE QUALIFIED TO THE EXTENT APPLICABLE BY THE
TRANSACTION SPECIFIC [PRICING] SUPPLEMENT (THE "SUPPLEMENT") (IF ANY) SENT TO
EACH PURCHASER AT THE TIME OF THE TRANSACTION.

1.   General. (a) The obligations of the Issuer to which these terms apply (each
     a "Note") are represented by one or more Master Notes (each, a "Master
     Note") issued in the name of (or of a nominee for) The Depository Trust
     Company ("DTC"), which Master Note includes the terms and provisions for
     the Issuer's Interest-Bearing Commercial Paper Notes that are set forth in
     this Statement of Terms, since this Statement of Terms constitutes an
     integral part of the Underlying Records as defined and referred to in the
     Master Note.

     (b) "Business Day" means any day other than a Saturday or Sunday that is
     neither a legal holiday nor a day on which banking institutions are
     authorized or required by law, executive order or regulation to be closed
     in New York City and, with respect to LIBOR Notes (as defined below) is
     also a London Business Day. "London Business Day" means, a day, other than
     a Saturday or Sunday, on which dealings in deposits in U.S. dollars are
     transacted in the London interbank market.

2.   Interest. (a) Each Note will bear interest at a fixed rate (a "Fixed Rate
     Note") or at a floating rate (a "Floating Rate Note").

     (b) The Supplement sent to each holder of such Note will describe the
     following terms: (i) whether such Note is a Fixed Rate Note or a Floating
     Rate Note and whether such Note is an Original Issue Discount Note (as
     defined below); (ii) the date on which such Note will be issued (the "Issue
     Date"); (iii) the Stated Maturity Date (as defined below); (iv) if such
     Note is a Fixed Rate Note, the rate per annum at which such Note will bear
     interest, if any, and the Interest Payment Dates; (v) if such Note is a
     Floating Rate Note, the Base Rate, the Index Maturity, the Interest Reset
     Dates, the Interest Payment Dates and the Spread and/or Spread Multiplier,
     if any (all as defined below), and any other terms relating to the
     particular method of calculating the interest rate for such Note; and (vi)
     any other terms applicable specifically to such Note. "Original Issue
     Discount Note" means a Note which has a stated redemption price at the
     Stated Maturity Date that exceeds its Issue Price by more than a specified
     de minimis amount and which the Supplement indicates will be an "Original
     Issue Discount Note".

     (c) Each Fixed Rate Note will bear interest from its Issue Date at the rate
     per annum specified in the Supplement until the principal amount thereof is
     paid or made available for payment. Interest on each Fixed Rate Note will
     be payable on the dates specified in the Supplement (each an "Interest
     Payment Date" for a Fixed Rate Note) and on the Maturity Date (as defined
     below). Interest on Fixed Rate Notes will be computed on the basis of a
     360-day year of twelve 30-day months.

<PAGE>

     If any Interest Payment Date or the Maturity Date of a Fixed Rate Note
     falls on a day that is not a Business Day, the required payment of
     principal, premium, if any, and/or interest will be payable on the next
     succeeding Business Day, and no additional interest will accrue in respect
     of the payment made on that next succeeding Business Day.

     (d) The interest rate on each Floating Rate Note for each Interest Reset
     Period (as defined below) will be determined by reference to an interest
     rate basis (a "Base Rate") plus or minus a number of basis points (one
     basis point equals one-hundredth of a percentage point) (the "Spread"), if
     any, and/or multiplied by a certain percentage (the "Spread Multiplier"),
     if any, until the principal thereof is paid or made available for payment.
     The Supplement will designate which of the following Base Rates is
     applicable to the related Floating Rate Note: (a) the CD Rate (a "CD Rate
     Note"), (b) the Commercial Paper Rate (a "Commercial Paper Rate Note"), (c)
     the Federal Funds Rate (a "Federal Funds Rate Note"), (d) LIBOR (a "LIBOR
     Note"), (e) the Prime Rate (a "Prime Rate Note"), (f) the Treasury Rate (a
     "Treasury Rate Note") or (g) such other Base Rate as may be specified in
     such Supplement.

     The rate of interest on each Floating Rate Note will be reset daily,
     weekly, monthly, quarterly or semi-annually (the "Interest Reset Period").
     The date or dates on which interest will be reset (each an "Interest Reset
     Date") will be, unless otherwise specified in the Supplement, in the case
     of Floating Rate Notes which reset daily, each Business Day, in the case of
     Floating Rate Notes (other than Treasury Rate Notes) that reset weekly, the
     Wednesday of each week; in the case of Treasury Rate Notes that reset
     weekly, the Tuesday of each week; in the case of Floating Rate Notes that
     reset monthly, the third Wednesday of each month; in the case of Floating
     Rate Notes that reset quarterly, the third Wednesday of March, June,
     September and December; and in the case of Floating Rate Notes that reset
     semiannually, the third Wednesday of the two months specified in the
     Supplement. If any Interest Reset Date for any Floating Rate Note is not a
     Business Day, such Interest Reset Date will be postponed to the next day
     that is a Business Day, except that in the case of a LIBOR Note, if such
     Business Day is in the next succeeding calendar month, such Interest Reset
     Date shall be the immediately preceding Business Day. Interest on each
     Floating Rate Note will be payable monthly, quarterly or semiannually (the
     "Interest Payment Period") and on the Maturity Date. Unless otherwise
     specified in the Supplement, and except as provided below, the date or
     dates on which interest will be payable (each an "Interest Payment Date"
     for a Floating Rate Note) will be, in the case of Floating Rate Notes with
     a monthly Interest Payment Period, on the third Wednesday of each month; in
     the case of Floating Rate Notes with a quarterly Interest Payment Period,
     on the third Wednesday of March, June, September and December; and in the
     case of Floating Rate Notes with a semiannual Interest Payment Period, on
     the third Wednesday of the two months specified in the Supplement. In
     addition, the Maturity Date will also be an Interest Payment Date.

     If any Interest Payment Date for any Floating Rate Note (other than an
     Interest Payment Date occurring on the Maturity Date) would otherwise be a
     day that is not a Business Day, such Interest Payment Date shall be
     postponed to the next day that is a Business Day, except that in the case
     of a LIBOR Note, if such Business Day is in the next succeeding calendar
     month, such Interest Payment Date shall be the immediately preceding
     Business Day. If the Maturity Date of a Floating Rate Note falls on a day
     that is not a Business Day, the payment of principal and interest will be
     made on the next succeeding Business Day, and no interest on such payment
     shall accrue for the period from and after such maturity.

     Interest payments on each Interest Payment Date for Floating Rate Notes
     will include accrued interest from and including the Issue Date or from and
     including the last date in respect of which interest has been

<PAGE>

     paid, as the case may be, to, but excluding, such Interest Payment Date. On
     the Maturity Date, the interest payable on a Floating Rate Note will
     include interest accrued to, but excluding, the Maturity Date. Accrued
     interest will be calculated by multiplying the principal amount of a
     Floating Rate Note by an accrued interest factor. This accrued interest
     factor will be computed by adding the interest factors calculated for each
     day in the period for which accrued interest is being calculated. The
     interest factor (expressed as a decimal) for each such day will be computed
     by dividing the interest rate applicable to such day by 360, in the cases
     where the Base Rate is the CD Rate, Commercial Paper Rate, Federal Funds
     Rate, LIBOR or Prime Rate, or by the actual number of days in the year, in
     the case where the Base Rate is the Treasury Rate. The interest rate in
     effect on each day will be (i) if such day is an Interest Reset Date, the
     interest rate with respect to the Interest Determination Date (as defined
     below) pertaining to such Interest Reset Date, or (ii) if such day is not
     an Interest Reset Date, the interest rate with respect to the Interest
     Determination Date pertaining to the next preceding Interest Reset Date,
     subject in either case to any adjustment by a Spread and/or a Spread
     Multiplier.

     The "Interest Determination Date" where the Base Rate is the CD Rate or the
     Commercial Paper Rate will be the second Business Day next preceding an
     Interest Reset Date. The Interest Determination Date where the Base Rate is
     the Federal Funds Rate or the Prime Rate will be the Business Day next
     preceding an Interest Reset Date. The Interest Determination Date where the
     Base Rate is LIBOR will be the second London Business Day next preceding an
     Interest Reset Date. The Interest Determination Date where the Base Rate is
     the Treasury Rate will be the day of the week in which such Interest Reset
     Date falls when Treasury Bills are normally auctioned. Treasury Bills are
     normally sold at auction on Monday of each week, unless that day is a legal
     holiday, in which case the auction is held on the following Tuesday or the
     preceding Friday. If an auction is so held on the preceding Friday, such
     Friday will be the Interest Determination Date pertaining to the Interest
     Reset Date occurring in the next succeeding week.

     The "Index Maturity" is the period to maturity of the instrument or
     obligation from which the applicable Base Rate is calculated.

     The "Calculation Date," where applicable, shall be the earlier of (i) the
     tenth calendar day following the applicable Interest Determination Date or
     (ii) the Business Day preceding the applicable Interest Payment Date or
     Maturity Date.

     All times referred to herein reflect New York City time, unless otherwise
     specified.

     The Issuer shall specify in writing to the Issuing and Paying Agent which
     party will be the calculation agent (the "Calculation Agent") with respect
     to the Floating Rate Notes. The Calculation Agent will provide the interest
     rate then in effect and, if determined, the interest rate which will become
     effective on the next Interest Reset Date with respect to such Floating
     Rate Note to the Issuing and Paying Agent as soon as the interest rate with
     respect to such Floating Rate Note has been determined and as soon as
     practicable after any change in such interest rate.

     All percentages resulting from any calculation on Floating Rate Notes will
     be rounded to the nearest one hundred-thousandth of a percentage point,
     with five-one millionths of a percentage point rounded upwards. For
     example, 9.876545% (or .09876545) would be rounded to 9.87655% (or
     .0987655). All dollar amounts used in or resulting from any calculation on
     Floating Rate Notes will be rounded, in the

<PAGE>

     case of U.S. dollars, to the nearest cent or, in the case of a foreign
     currency, to the nearest unit (with one-half cent or unit being rounded
     upwards).

CD Rate Notes

     "CD Rate" means the rate on any Interest Determination Date for negotiable
     certificates of deposit having the Index Maturity as published by the Board
     of Governors of the Federal Reserve System (the "FRB") in "Statistical
     Release H.15(519), Selected Interest Rates" or any successor publication of
     the FRB ("H.15(519)") under the heading "CDs (Secondary Market)".

     If the above rate is not published in H.15(519) by 3:00 p.m. on the
     Calculation Date, the CD Rate will be the rate on such Interest
     Determination Date set forth in the daily update of H.15(519), available
     through the world wide website of the FRB at
     http://www.federalreserve.gov/releases/h15/Update, or any successor site or
     publication or other recognized electronic source used for the purpose of
     displaying the applicable rate ("H.15 Daily Update") under the caption "CDs
     (Secondary Market)".

     If such rate is not published in either H.15(519) or H.15 Daily Update by
     3:00 p.m. on the Calculation Date, the Calculation Agent will determine the
     CD Rate to be the arithmetic mean of the secondary market offered rates as
     of 10:00 a.m. on such Interest Determination Date of three leading nonbank
     dealers(10) in negotiable U.S. dollar certificates of deposit in New York
     City selected by the Calculation Agent for negotiable U.S. dollar
     certificates of deposit of major United States money center banks of the
     highest credit standing in the market for negotiable certificates of
     deposit with a remaining maturity closest to the Index Maturity in the
     denomination of $5,000,000.

     If the dealers selected by the Calculation Agent are not quoting as set
     forth above, the CD Rate will remain the CD Rate then in effect on such
     Interest Determination Date.

Commercial Paper Rate Notes

     "Commercial Paper Rate" means the Money Market Yield (calculated as
     described below) of the rate on any Interest Determination Date for
     commercial paper having the Index Maturity, as published in H.15(519) under
     the heading "Commercial Paper-Nonfinancial".

     If the above rate is not published in H.15(519) by 3:00 p.m. on the
     Calculation Date, then the Commercial Paper Rate will be the Money Market
     Yield of the rate on such Interest Determination Date for commercial paper
     of the Index Maturity as published in H.15 Daily Update under the heading
     "Commercial Paper-Nonfinancial".

     If by 3:00 p.m. on such Calculation Date such rate is not published in
     either H.15(519) or H.15 Daily Update, then the Calculation Agent will
     determine the Commercial Paper Rate to be the Money Market Yield of the
     arithmetic mean of the offered rates as of 11:00 a.m. on such Interest
     Determination Date of three leading dealers of U.S. dollar commercial paper
     in New York City selected by the Calculation Agent for commercial paper of
     the Index Maturity placed for an industrial issuer whose bond rating is
     "AA," or the equivalent, from a nationally recognized statistical rating
     organization.

----------
(10) Such nonbank dealers referred to in this Statement of Terms may include
     affiliates of the Dealer.

<PAGE>

     If the dealers selected by the Calculation Agent are not quoting as
     mentioned above, the Commercial Paper Rate with respect to such Interest
     Determination Date will remain the Commercial Paper Rate then in effect on
     such Interest Determination Date.

     "Money Market Yield" will be a yield calculated in accordance with the
     following formula:

                             D x 360
     Money Market Yield = ------------- x 100
                          360 - (D x M)

     where "D" refers to the applicable per annum rate for commercial paper
     quoted on a bank discount basis and expressed as a decimal and "M" refers
     to the actual number of days in the interest period for which interest is
     being calculated.

Federal Funds Rate Notes

     "Federal Funds Rate" means the rate on any Interest Determination Date for
     federal funds as published in H.15(519) under the heading "Federal Funds
     (Effective)" and displayed on Moneyline Telerate (or any successor service)
     on page 120 (or any other page as may replace the specified page on that
     service) ("Telerate Page 120").

     If the above rate does not appear on Telerate Page 120 or is not so
     published by 3:00 p.m. on the Calculation Date, the Federal Funds Rate will
     be the rate on such Interest Determination Date as published in H.15 Daily
     Update under the heading "Federal Funds/(Effective)".

     If such rate is not published as described above by 3:00 p.m. on the
     Calculation Date, the Calculation Agent will determine the Federal Funds
     Rate to be the arithmetic mean of the rates for the last transaction in
     overnight U.S. dollar federal funds arranged by each of three leading
     brokers of Federal Funds transactions in New York City selected by the
     Calculation Agent prior to 9:00 a.m. on such Interest Determination Date.

     If the brokers selected by the Calculation Agent are not quoting as
     mentioned above, the Federal Funds Rate will remain the Federal Funds Rate
     then in effect on such Interest Determination Date.

LIBOR Notes

     The London Interbank offered rate ("LIBOR") means, with respect to any
     Interest Determination Date, the rate for deposits in U.S. dollars having
     the Index Maturity that appears on the Designated LIBOR Page as of 11:00
     a.m., London time, on such Interest Determination Date.

     If no rate appears, LIBOR will be determined on the basis of the rates at
     approximately 11:00 a.m., London time, on such Interest Determination Date
     at which deposits in U.S. dollars are offered to prime banks in the London
     interbank market by four major banks in such market selected by the
     Calculation Agent for a term equal to the Index Maturity and in principal
     amount equal to an amount that in the Calculation Agent's judgment is
     representative for a single transaction in U.S. dollars in such market at
     such time (a "Representative Amount"). The Calculation Agent will request
     the principal London office of each of such banks to provide a quotation of
     its rate. If at least two such

<PAGE>

     quotations are provided, LIBOR will be the arithmetic mean of such
     quotations. If fewer than two quotations are provided, LIBOR for such
     interest period will be the arithmetic mean of the rates quoted at
     approximately 11:00 a.m., in New York City, on such Interest Determination
     Date by three major banks in New York City, selected by the Calculation
     Agent, for loans in U.S. dollars to leading European banks, for a term
     equal to the Index Maturity and in a Representative Amount; provided,
     however, that if fewer than three banks so selected by the Calculation
     Agent are providing such quotations, the then existing LIBOR rate will
     remain in effect for such Interest Payment Period.

     "Designated LIBOR Page" means the display designated as page "3750" on
     Moneyline Telerate (or such other page as may replace the 3750 page on that
     service or such other service or services as may be nominated by the
     British Bankers' Association for the purposes of displaying London
     interbank offered rates for U.S. dollar deposits).

Prime Rate Notes

     "Prime Rate" means the rate on any Interest Determination Date as published
     in H.15(519) under the heading "Bank Prime Loan".

     If the above rate is not published in H.15(519) prior to 3:00 p.m. on the
     Calculation Date, then the Prime Rate will be the rate on such Interest
     Determination Date as published in H.15 Daily Update opposite the caption
     "Bank Prime Loan".

     If the rate is not published prior to 3:00 p.m. on the Calculation Date in
     either H.15(519) or H.15 Daily Update, then the Calculation Agent will
     determine the Prime Rate to be the arithmetic mean of the rates of interest
     publicly announced by each bank that appears on the Reuters Screen US
     PRIME1 Page (as defined below) as such bank's prime rate or base lending
     rate as of 11:00 a.m., on that Interest Determination Date.

     If fewer than four such rates referred to above are so published by 3:00
     p.m. on the Calculation Date, the Calculation Agent will determine the
     Prime Rate to be the arithmetic mean of the prime rates or base lending
     rates quoted on the basis of the actual number of days in the year divided
     by 360 as of the close of business on such Interest Determination Date by
     three major banks in New York City selected by the Calculation Agent.

     If the banks selected are not quoting as mentioned above, the Prime Rate
     will remain the Prime Rate in effect on such Interest Determination Date.

     "Reuters Screen US PRIME1 Page" means the display designated as page "US
     PRIME1" on the Reuters Monitor Money Rates Service (or such other page as
     may replace the US PRIME1 page on that service for the purpose of
     displaying prime rates or base lending rates of major United States banks).

<PAGE>

Treasury Rate Notes

"Treasury Rate" means:

     (1) the rate from the auction held on the Interest Determination Date (the
     "Auction") of direct obligations of the United States ("Treasury Bills")
     having the Index Maturity specified in the Supplement under the caption
     "INVESTMENT RATE" on the display on Moneyline Telerate (or any successor
     service) on page 56 (or any other page as may replace that page on that
     service) ("Telerate Page 56") or page 57 (or any other page as may replace
     that page on that service) ("Telerate Page 57"), or

     (2) if the rate referred to in clause (1) is not so published by 3:00 p.m.
     on the related Calculation Date, the Bond Equivalent Yield (as defined
     below) of the rate for the applicable Treasury Bills as published in H.15
     Daily Update, under the caption "U.S. Government Securities/Treasury
     Bills/Auction High", or

     (3) if the rate referred to in clause (2) is not so published by 3:00 p.m.
     on the related Calculation Date, the Bond Equivalent Yield of the auction
     rate of the applicable Treasury Bills as announced by the United States
     Department of the Treasury, or

     (4) if the rate referred to in clause (3) is not so announced by the United
     States Department of the Treasury, or if the Auction is not held, the Bond
     Equivalent Yield of the rate on the particular Interest Determination Date
     of the applicable Treasury Bills as published in H.15(519) under the
     caption "U.S. Government Securities/Treasury Bills/Secondary Market", or

     (5) if the rate referred to in clause (4) not so published by 3:00 p.m. on
     the related Calculation Date, the rate on the particular Interest
     Determination Date of the applicable Treasury Bills as published in H.15
     Daily Update, under the caption "U.S. Government Securities/Treasury
     Bills/Secondary Market", or

     (6) if the rate referred to in clause (5) is not so published by 3:00 p.m.
     on the related Calculation Date, the rate on the particular Interest
     Determination Date calculated by the Calculation Agent as the Bond
     Equivalent Yield of the arithmetic mean of the secondary market bid rates,
     as of approximately 3:30 p.m. on that Interest Determination Date, of three
     primary United States government securities dealers selected by the
     Calculation Agent, for the issue of Treasury Bills with a remaining
     maturity closest to the Index Maturity specified in the Supplement, or

     (7) if the dealers so selected by the Calculation Agent are not quoting as
     mentioned in clause (6), the Treasury Rate in effect on the particular
     Interest Determination Date.

"Bond Equivalent Yield" means a yield (expressed as a percentage) calculated in
accordance with the following formula:

                            D x N
Bond Equivalent Yield = ------------- x 100
                        360 - (D x M)

<PAGE>

     where "D" refers to the applicable per annum rate for Treasury Bills quoted
     on a bank discount basis and expressed as a decimal, "N" refers to 365 or
     366, as the case may be, and "M" refers to the actual number of days in the
     applicable Interest Reset Period.

3.   Final Maturity. The Stated Maturity Date for any Note will be the date so
     specified in the Supplement, which shall be no later than 270 days from the
     date of issuance. On its Stated Maturity Date, or any date prior to the
     Stated Maturity Date on which the particular Note becomes due and payable
     by the declaration of acceleration, each such date being referred to as a
     Maturity Date, the principal amount of each Note, together with accrued and
     unpaid interest thereon, will be immediately due and payable.

4.   Events of Default. The occurrence of any of the following shall constitute
     an "Event of Default" with respect to a Note: (i) default in any payment of
     principal of or interest on such Note (including on a redemption thereof);
     (ii) the Issuer makes any compromise arrangement with its creditors
     generally including the entering into any form of moratorium with its
     creditors generally; (iii) a court having jurisdiction shall enter a decree
     or order for relief in respect of the Issuer in an involuntary case under
     any applicable bankruptcy, insolvency or other similar law now or hereafter
     in effect, or there shall be appointed a receiver, administrator,
     liquidator, custodian, trustee or sequestrator (or similar officer) with
     respect to the whole or substantially the whole of the assets of the Issuer
     and any such decree, order or appointment is not removed, discharged or
     withdrawn within 60 days thereafter; or (iv) the Issuer shall commence a
     voluntary case under any applicable bankruptcy, insolvency or other similar
     law now or hereafter in effect, or consent to the entry of an order for
     relief in an involuntary case under any such law, or consent to the
     appointment of or taking possession by a receiver, administrator,
     liquidator, assignee, custodian, trustee or sequestrator (or similar
     official), with respect to the whole or substantially the whole of the
     assets of the Issuer or make any general assignment for the benefit of
     creditors. Upon the occurrence of an Event of Default, the principal of
     each obligation evidenced by such Note (together with interest accrued and
     unpaid thereon) shall become, without any notice or demand, immediately due
     and payable. (11)

5.   Obligation Absolute. No provision of the Issuing and Paying Agency
     Agreement under which the Notes are issued shall alter or impair the
     obligation of the Issuer, which is absolute and unconditional, to pay the
     principal of and interest on each Note at the times, place and rate, and in
     the coin or currency, herein prescribed.

6.   Supplement. Any term contained in the Supplement shall supercede any
     conflicting term contained herein.

----------
(11) Unlike single payment notes, where a default arises only at the stated
     maturity, interest-bearing notes with multiple payment dates should contain
     a default provision permitting acceleration of the maturity if the Issuer
     defaults on an interest payment.<PAGE>

                                                                    Exhibit 10.3

                        COMMERCIAL PAPER DEALER AGREEMENT
                                 [4(2) PROGRAM]

                                     BETWEEN

                          SYSCO CORPORATION, AS ISSUER

                                       AND

                         GOLDMAN, SACHS & CO., AS DEALER

CONCERNING NOTES TO BE ISSUED PURSUANT TO AN ISSUING AND PAYING AGENCY AGREEMENT
DATED AS OF APRIL 13, 2006 BETWEEN THE ISSUER AND JPMORGAN CHASE BANK, N.A., AS
ISSUING AND PAYING AGENT

                                   DATED AS OF

                                 APRIL 13, 2006

<PAGE>

                        COMMERCIAL PAPER DEALER AGREEMENT

                                 [4(2) PROGRAM]

This agreement (the "Agreement") sets forth the understandings between the
Issuer and the Dealer, each named on the cover page hereof, in connection with
the issuance and sale by the Issuer of its short-term promissory notes (the
"Notes") through the Dealer.

Certain terms used in this Agreement are defined in Section 6 hereof.

The Addendum to this Agreement, and any Annexes or Exhibits described in this
Agreement or such Addendum, are hereby incorporated into this Agreement and made
fully a part hereof.

1.   OFFERS, SALES AND RESALES OF NOTES.

     1.1  While (i) the Issuer has and shall have no obligation to sell the
          Notes to the Dealer or to permit the Dealer to arrange any sale of the
          Notes for the account of the Issuer, and (ii) the Dealer has and shall
          have no obligation to purchase the Notes from the Issuer or to arrange
          any sale of the Notes for the account of the Issuer, the parties
          hereto agree that in any case where the Dealer purchases Notes from
          the Issuer, or arranges for the sale of Notes by the Issuer, such
          Notes will be purchased or sold by the Dealer in reliance on the
          representations, warranties, covenants and agreements of the Issuer
          contained herein or made pursuant hereto and on the terms and
          conditions and in the manner provided herein.

     1.2  So long as this Agreement shall remain in effect, and in addition to
          the limitations contained in Section 1.7 hereof, the Issuer shall not,
          without the consent of the Dealer, offer, solicit or accept offers to
          purchase, or sell, any Notes except (a) in transactions with one or
          more dealers which may from time to time after the date hereof become
          dealers with respect to the Notes by executing with the Issuer one or
          more agreements which contain provisions substantially identical to
          those contained in Section 1 of this Agreement, of which the Issuer
          hereby undertakes to provide the Dealer prompt notice or (b) in
          transactions with the other dealers listed on the Addendum hereto,
          which are executing agreements with the Issuer which contain
          provisions substantially identical to Section 1 of this Agreement
          contemporaneously herewith. In no event shall the Issuer offer,
          solicit or accept offers to purchase, or sell, any Notes directly on
          its own behalf in transactions with persons other than broker-dealers
          as specifically permitted in this Section 1.2.

     1.3  The Notes shall be in a minimum denomination of $250,000 or integral
          multiples of $1,000 in excess thereof, will bear such interest rates,
          if interest bearing, or will be sold at such discount from their face
          amounts, as shall be agreed upon by the Dealer and the Issuer, shall
          have a maturity not exceeding 270 days from the date of issuance and
          may have such terms as are specified in Exhibit C hereto or the
          Private Placement Memorandum. The Notes shall not contain any
          provision for extension, renewal or automatic "rollover."

     1.4  The authentication and issuance of, and payment for, the Notes shall
          be effected in accordance with the Issuing and Paying Agency
          Agreement, and the Notes shall be either individual physical
          certificates or book-entry notes evidenced by one or more master notes
          (each, a

                                                                               2

<PAGE>

          "Master Note") registered in the name of The Depository Trust Company
          ("DTC") or its nominee, in the form or forms annexed to the Issuing
          and Paying Agency Agreement.

     1.5  If the Issuer and the Dealer shall agree on the terms of the purchase
          of any Note by the Dealer or the sale of any Note arranged by the
          Dealer (including, but not limited to, agreement with respect to the
          date of issue, purchase price, principal amount, maturity and interest
          rate or interest rate index and margin (in the case of
          interest-bearing Notes) or discount thereof (in the case of Notes
          issued on a discount basis), and appropriate compensation for the
          Dealer's services hereunder) pursuant to this Agreement, the Issuer
          shall cause such Note to be issued and delivered in accordance with
          the terms of the Issuing and Paying Agency Agreement and payment for
          such Note shall be made by the purchaser thereof, either directly or
          through the Dealer, to the Issuing and Paying Agent, for the account
          of the Issuer. Except as otherwise agreed, in the event that the
          Dealer is acting as an agent and a purchaser shall either fail to
          accept delivery of or make payment for a Note on the date fixed for
          settlement, the Dealer shall promptly notify the Issuer, and if the
          Dealer has theretofore paid the Issuer for the Note, the Issuer will
          promptly return such funds to the Dealer against its return of the
          Note to the Issuer, in the case of a certificated Note, and upon
          notice of such failure in the case of a book-entry Note. If such
          failure occurred for any reason other than default by the Dealer, the
          Issuer shall reimburse the Dealer on an equitable basis for the
          Dealer's loss of the use of such funds for the period such funds were
          credited to the Issuer's account.

     1.6  In the case of any agreement by the Dealer to purchase a Note
          hereunder (other than as agent) which provides for a settlement date
          that is three New York Business Days or more after the date of such
          agreement, the obligation of the Dealer to purchase the Note under
          such agreement shall be subject to the conditions set forth on Exhibit
          D.

     1.7  The Dealer and the Issuer hereby establish and agree to observe the
          following procedures in connection with offers, sales and subsequent
          resales or other transfers of the Notes:

          (a)  Offers and sales of the Notes by or through the Dealer shall be
               made only to: (i) investors reasonably believed by the Dealer to
               be Qualified Institutional Buyers, Institutional Accredited
               Investors or Sophisticated Individual Accredited Investors and
               (ii) non-bank fiduciaries or agents that will be purchasing Notes
               for one or more accounts, each of which is reasonably believed by
               the Dealer to be an Institutional Accredited Investor or
               Sophisticated Individual Accredited Investor.

          (b)  Resales and other transfers of the Notes by the holders thereof
               shall be made only in accordance with the restrictions in the
               legend described in clause (e) below.

          (c)  No general solicitation or general advertising shall be used in
               connection with the offering of the Notes. Without limiting the
               generality of the foregoing, without the prior written approval
               of the Dealer, the Issuer shall not issue any press release or
               place or publish any "tombstone" or other advertisement relating
               to the Notes.

          (d)  No sale of Notes to any one purchaser shall be for less than
               $250,000 principal or face amount, and no Note shall be issued in
               a smaller principal or face amount. If the purchaser

                                                                               3

<PAGE>

               is a non-bank fiduciary acting on behalf of others, each person
               for whom such purchaser is acting must purchase at least $250,000
               principal or face amount of Notes.

          (e)  Offers and sales of the Notes by the Issuer through the Dealer
               acting as agent for the Issuer shall be made in accordance with
               Rule 506 under the Securities Act, and shall be subject to the
               restrictions described in the legend appearing on Exhibit A
               hereto. A legend substantially to the effect of such Exhibit A
               shall appear as part of the Private Placement Memorandum used in
               connection with offers and sales of Notes hereunder, as well as
               on each individual certificate representing a Note and each
               Master Note representing book-entry Notes offered and sold
               pursuant to this Agreement.

          (f)  The Dealer shall furnish or shall have furnished to each
               purchaser of Notes for which it has acted as the Dealer a copy of
               the then-current Private Placement Memorandum unless such
               purchaser has previously received a copy of the Private Placement
               Memorandum as then in effect. The Private Placement Memorandum
               shall expressly state that any person to whom Notes are offered
               shall have an opportunity to ask questions of, and receive
               information from, the Issuer and the Dealer and shall provide the
               names, addresses and telephone numbers of the persons from whom
               information regarding the Issuer may be obtained.

          (g)  The Issuer agrees, for the benefit of the Dealer and each of the
               holders and prospective purchasers from time to time of the Notes
               that, if at any time the Issuer shall not be subject to Section
               13 or 15(d) of the Exchange Act, the Issuer will furnish, upon
               request and at its expense, to the Dealer and to holders and
               prospective purchasers of Notes information required by Rule
               144A(d)(4)(i) in compliance with Rule 144A(d).

          (h)  In the event that any Note offered or to be offered by the Dealer
               would be ineligible for resale under Rule 144A, the Issuer shall
               immediately notify the Dealer (by telephone, confirmed in
               writing) of such fact and shall promptly prepare and deliver to
               the Dealer an amendment or supplement to the Private Placement
               Memorandum describing the Notes that are ineligible, the reason
               for such ineligibility and any other relevant information
               relating thereto.

          (i)  The Issuer represents that it is not currently issuing commercial
               paper in the United States market in reliance upon the exemption
               provided by Section 3(a)(3) of the Securities Act. The Issuer
               agrees that, if it shall issue commercial paper after the date
               hereof in reliance upon such exemption] (a) the proceeds from the
               sale of the Notes will be segregated from the proceeds of the
               sale of any such commercial paper by being placed in a separate
               account; (b) the Issuer will institute appropriate corporate
               procedures to ensure that the offers and sales of notes issued by
               the Issuer pursuant to the Section 3(a)(3) exemption are not
               integrated with offerings and sales of Notes hereunder; and (c)
               the Issuer will comply with each of the requirements of Section
               3(a)(3) of the Securities Act in selling commercial paper or
               other short-term debt securities other than the Notes in the
               United States.

          (j)  The Issuer hereby agrees that, not later than 15 days after the
               first sale of Notes as contemplated by this Agreement, it will
               file with the SEC a notice on Form D in

                                                                               4

<PAGE>

               accordance with Rule 503 under the Securities Act and that it
               will thereafter file such amendments to such notice as Rule 503
               may require.

     1.8  The Issuer hereby represents and warrants to the Dealer, in connection
          with offers, sales and resales of Notes, as follows:

          (a)  The Issuer hereby confirms to the Dealer that (except as
               permitted by Section 1.6(i)) within the preceding six months
               neither the Issuer nor any person other than the Dealer or the
               other dealers referred to in Section 1.2 hereof acting on behalf
               of the Issuer has offered or sold any Notes, or any substantially
               similar security of the Issuer (including, without limitation,
               medium-term notes issued by the Issuer), to, or solicited offers
               to buy any such security from, any person other than the Dealer
               or the other dealers referred to in Section 1.2 hereof. The
               Issuer also agrees that (except as permitted by Section 1.6(i)),
               as long as the Notes are being offered for sale by the Dealer and
               the other dealers referred to in Section 1.2 hereof as
               contemplated hereby and until at least six months after the offer
               of Notes hereunder has been terminated, neither the Issuer nor
               any person other than the Dealer or the other dealers referred to
               in Section 1.2 hereof (except as contemplated by Section 1.2
               hereof) will offer the Notes or any substantially similar
               security of the Issuer for sale to, or solicit offers to buy any
               such security from, any person other than the Dealer or the other
               dealers referred to in Section 1.2 hereof, it being understood
               that such agreement is made with a view to bringing the offer and
               sale of the Notes within the exemption provided by Section 4(2)
               of the Securities Act and Rule 506 thereunder and shall survive
               any termination of this Agreement. The Issuer hereby represents
               and warrants that it has not taken or omitted to take, and will
               not take or omit to take, any action that would cause the
               offering and sale of Notes hereunder to be integrated with any
               other offering of securities, whether such offering is made by
               the Issuer or some other party or parties.

          (b)  In the event that the Dealer purchases Notes as principal and
               does not resell such Notes on the day of such purchase, to the
               extent necessary to comply with Regulation T and the
               interpretations thereunder, the Dealer will sell such Notes
               either (i) only to offerees it reasonably believes to be
               Qualified Institutional Buyers or to Qualified Institutional
               Buyers it reasonably believes are acting for other Qualified
               Institutional Buyers, in each case in accordance with Rule 144A
               or (ii) in a manner which would not cause a violation of
               Regulation T and the interpretations thereunder.

2.   REPRESENTATIONS AND WARRANTIES OF ISSUER.

     The Issuer represents and warrants that:

     2.1  The Issuer is a corporation duly organized, validly existing and in
          good standing under the laws of the jurisdiction of its incorporation
          and has all the requisite power and authority to execute, deliver and
          perform its obligations under the Notes, this Agreement and the
          Issuing and Paying Agency Agreement.

     2.2  This Agreement and the Issuing and Paying Agency Agreement have been
          duly authorized, executed and delivered by the Issuer and constitute
          legal, valid and binding obligations of the Issuer enforceable against
          the Issuer in accordance with their terms, subject to applicable

                                                                               5

<PAGE>

          bankruptcy, insolvency and similar laws affecting creditors' rights
          generally, and subject, as to enforceability, to general principles of
          equity (regardless of whether enforcement is sought in a proceeding in
          equity or at law).

     2.3  The Notes have been duly authorized, and when issued as provided in
          the Issuing and Paying Agency Agreement, will be duly and validly
          issued and will constitute legal, valid and binding obligations of the
          Issuer enforceable against the Issuer in accordance with their terms,
          subject to applicable bankruptcy, insolvency and similar laws
          affecting creditors' rights generally, and subject, as to
          enforceability, to general principles of equity (regardless of whether
          enforcement is sought in a proceeding in equity or at law).

     2.4  The offer and sale of the Notes in the manner contemplated hereby do
          not require registration of the Notes under the Securities Act,
          pursuant to the exemption from registration contained in Section 4(2)
          thereof and Regulation D thereunder, and no indenture in respect of
          the Notes is required to be qualified under the Trust Indenture Act of
          1939, as amended.

     2.5  There is and will be no other unsecured indebtedness of the Issuer
          which is or will be contractually entitled to be senior in right of
          payment to the Notes.

     2.6  No consent or action of, or filing or registration with, any
          governmental or public regulatory body or authority, including the
          SEC, is required to authorize, or is otherwise required in connection
          with the execution, delivery or performance of, this Agreement, the
          Notes or the Issuing and Paying Agency Agreement, except as may be
          required by the securities or Blue Sky laws of the various states in
          connection with the offer and sale of the Notes.

     2.7  Neither the execution and delivery of this Agreement and the Issuing
          and Paying Agency Agreement, nor the issuance of the Notes in
          accordance with the Issuing and Paying Agency Agreement, nor the
          fulfillment of or compliance with the terms and provisions hereof or
          thereof by the Issuer, will (i) result in the creation or imposition
          of any mortgage, lien, charge or encumbrance of any nature whatsoever
          upon any of the properties or assets of the Issuer, or (ii) violate or
          result in a breach or a default under any of the terms of the Issuer's
          charter documents or by-laws, any contract or instrument to which the
          Issuer is a party or by which it or its property is bound, or any law
          or regulation, or any order, writ, injunction or decree of any court
          or government instrumentality, to which the Issuer is subject or by
          which it or its property is bound, which breach or default might have
          a material adverse effect on the condition (financial or otherwise),
          operations or business prospects of the Issuer or the ability of the
          Issuer to perform its obligations under this Agreement, the Notes or
          the Issuing and Paying Agency Agreement.

     2.8  There is no litigation or governmental proceeding pending, or to the
          knowledge of the Issuer threatened, against or affecting the Issuer or
          any of its subsidiaries which might result in a material adverse
          change in the condition (financial or otherwise), operations or
          business prospects of the Issuer or the ability of the Issuer to
          perform its obligations under this Agreement, the Notes or the Issuing
          and Paying Agency Agreement.

                                                                               6

<PAGE>

     2.9  The Issuer is not an "investment company" within the meaning of the
          Investment Company Act of 1940, as amended.

     2.10 Neither the Private Placement Memorandum nor the Company Information
          contains any untrue statement of a material fact or omits to state a
          material fact required to be stated therein or necessary to make the
          statements therein, in light of the circumstances under which they
          were made, not misleading.

     2.11 Each (a) sale and issuance of Notes by the Issuer hereunder and (b)
          amendment or supplement of the Private Placement Memorandum shall be
          deemed a representation and warranty by the Issuer to the Dealer, as
          of the date and time thereof, that, both before and after giving
          effect to such sale and issuance and after giving effect to such
          amendment or supplement, (i) the representations and warranties given
          by the Issuer set forth in this Section 2 remain true and correct on
          and as of such date and time as if made on and as of such date and at
          such time, (ii) in the case of an issuance of Notes, the Notes being
          issued on such date have been duly and validly issued and constitute
          legal, valid and binding obligations of the Issuer, enforceable
          against the Issuer in accordance with their terms, subject to
          applicable bankruptcy, insolvency and similar laws affecting
          creditors' rights generally and subject, as to enforceability, to
          general principles of equity (regardless of whether enforcement is
          sought in a proceeding in equity or at law) and (iii) in the case of
          an issuance or sale of Notes by the Issuer, since the date of the most
          recent Private Placement Memorandum, there has been no material
          adverse change in the condition (financial or otherwise), operations
          or business prospects of the Issuer which has not been disclosed to
          the Dealer in writing.

3.   COVENANTS AND AGREEMENTS OF ISSUER.

     The Issuer covenants and agrees that:

     3.1  The Issuer will give the Dealer prompt notice (but in any event prior
          to any subsequent sale or issuance of Notes by the Issuer hereunder)
          of any amendment to, modification of or waiver with respect to, the
          Notes or the Issuing and Paying Agency Agreement, including a complete
          copy of any such amendment, modification or waiver.

     3.2  The Issuer shall, whenever there shall occur any change in the
          Issuer's condition (financial or otherwise), operations or business
          prospects or any development or occurrence in relation to the Issuer
          that would be material to holders of the Notes or potential holders of
          the Notes (including any downgrading or receipt of any notice of
          intended or potential downgrading or any review for potential change
          in the rating accorded any of the Issuer's securities by any
          nationally recognized statistical rating organization which has
          published a rating of the Notes), promptly, and in any event prior to
          any subsequent sale or issuance of Notes by the Issuer hereunder,
          notify the Dealer (by telephone, confirmed in writing) of such change,
          development or occurrence.

     3.3  The Issuer shall from time to time furnish to the Dealer such
          information as the Dealer may reasonably request, including, without
          limitation, any press releases or material provided by the Issuer to
          any national securities exchange or rating agency, regarding (i) the
          Issuer's operations

                                                                               7

<PAGE>

          and financial condition, (ii) the due authorization and execution of
          the Notes and (iii) the Issuer's ability to pay the Notes as they
          mature.

     3.4  The Issuer will take all such action as the Dealer may reasonably
          request to ensure that each offer and each sale of the Notes will
          comply with any applicable state Blue Sky laws; provided, however,
          that the Issuer shall not be obligated to file any general consent to
          service of process or to qualify as a foreign corporation in any
          jurisdiction in which it is not so qualified or subject itself to
          taxation in respect of doing business in any jurisdiction in which it
          is not otherwise so subject.

     3.5  The Issuer will not be in default of any of its obligations hereunder,
          under the Notes or under the Issuing and Paying Agency Agreement, at
          any time that any of the Notes are outstanding.

     3.6  The Issuer shall not issue or sell Notes hereunder until the Dealer
          shall have received (a) an opinion of counsel to the Issuer, addressed
          to the Dealer, satisfactory in form and substance to the Dealer, (b) a
          copy of the executed Issuing and Paying Agency Agreement as then in
          effect, (c) a copy of resolutions adopted by the Board of Directors of
          the Issuer, satisfactory in form and substance to the Dealer and
          certified by the Secretary or similar officer of the Issuer,
          authorizing execution and delivery by the Issuer of this Agreement,
          the Issuing and Paying Agency Agreement and the Notes and consummation
          by the Issuer of the transactions contemplated hereby and thereby, (d)
          prior to the issuance of any book-entry Notes represented by a master
          note registered in the name of DTC or its nominee, a copy of the
          executed Letter of Representations among the Issuer, the Issuing and
          Paying Agent and DTC and of the executed master note, (e) prior to the
          issuance of any Notes in physical form, a copy of such form (unless
          attached to this Agreement or the Issuing and Paying Agency Agreement)
          and (f) such other certificates, opinions, letters and documents as
          the Dealer shall have reasonably requested.

     3.7  The Issuer shall reimburse the Dealer for all of the Dealer's
          out-of-pocket expenses related to this Agreement, including expenses
          incurred in connection with its preparation and negotiation, and the
          transactions contemplated hereby (including, but not limited to, the
          printing and distribution of the Private Placement Memorandum), and,
          if applicable, for the reasonable fees and out-of-pocket expenses of
          the Dealer's counsel.

4.   DISCLOSURE.

     4.1  The Private Placement Memorandum and its contents (other than the
          Dealer Information) shall be the sole responsibility of the Issuer.
          The Private Placement Memorandum shall contain a statement expressly
          offering an opportunity for each prospective purchaser to ask
          questions of, and receive answers from, the Issuer concerning the
          offering of Notes and to obtain relevant additional information which
          the Issuer possesses or can acquire without unreasonable effort or
          expense.

     4.2  The Issuer agrees to promptly furnish the Dealer the Company
          Information as it becomes available.

                                                                               8

<PAGE>

     4.3  (a) The Issuer further agrees to notify the Dealer promptly upon the
          occurrence of any event relating to or affecting the Issuer that would
          cause the Company Information then in existence to include an untrue
          statement of a material fact or to omit to state a material fact
          necessary in order to make the statements contained therein, in light
          of the circumstances under which they are made, not misleading.

          (b) In the event that the Issuer gives the Dealer notice pursuant to
          Section 4.3(a) and the Dealer notifies the Issuer that it then has
          Notes it is holding in inventory, the Issuer agrees promptly to
          supplement or amend the Private Placement Memorandum so that the
          Private Placement Memorandum, as amended or supplemented, shall not
          contain an untrue statement of a material fact or omit to state a
          material fact necessary in order to make the statements therein, in
          light of the circumstances under which they were made, not misleading,
          and the Issuer shall make such supplement or amendment available to
          the Dealer. Unless the Issuer fails to comply with its obligations in
          the preceding sentence, all solicitations and sales of Notes shall be
          suspended until such time as the Issuer has so amended or supplemented
          the Private Placement Memorandum and made such amendment or supplement
          available to the Dealer.

          (c) In the event that (i) the Issuer gives the Dealer notice pursuant
          to Section 4.3(a), (ii) the Dealer does not notify the Issuer that it
          is then holding Notes in inventory and (iii) the Issuer chooses not to
          promptly amend or supplement the Private Placement Memorandum in the
          manner described in clause (b) above, then all solicitations and sales
          of Notes shall be suspended until such time as the Issuer has so
          amended or supplemented the Private Placement Memorandum, and made
          such amendment or supplement available to the Dealer.

          (d) Without limiting the generality of Section 4.3(a), the Issuer
          shall review, amend and supplement the Private Placement Memorandum on
          a periodic basis, but no less than at least once annually, to
          incorporate current financial information of the Issuer to the extent
          necessary to ensure that the information provided in the Private
          Placement Memorandum is accurate and complete.

5.   INDEMNIFICATION AND CONTRIBUTION.

     5.1  The Issuer will indemnify and hold harmless the Dealer, each
          individual, corporation, partnership, trust, association or other
          entity controlling the Dealer, any affiliate of the Dealer or any such
          controlling entity and their respective directors, officers,
          employees, partners, incorporators, shareholders, servants, trustees
          and agents (hereinafter the "Indemnitees") against any and all
          liabilities, penalties, suits, causes of action, losses, damages,
          claims, costs and expenses (including, without limitation, reasonable
          fees and disbursements of counsel) or judgments of whatever kind or
          nature (each a "Claim"), imposed upon, incurred by or asserted against
          the Indemnitees arising out of or based upon (i) any allegation that
          the Private Placement Memorandum, the Company Information or any
          information provided by the Issuer to the Dealer included (as of any
          relevant time) or includes an untrue statement of a material fact or
          omitted (as of any relevant time) or omits to state any material fact
          necessary to make the statements therein, in light of the
          circumstances under which they were made, not misleading or (ii)
          arising out of or based upon the breach by the Issuer of any
          agreement, covenant or representation made in or pursuant to this
          Agreement. This indemnification shall not apply to the extent that the
          Claim arises out of or is based upon Dealer Information.

                                                                               9

<PAGE>

     5.2  Provisions relating to claims made for indemnification under this
          Section 5 are set forth on Exhibit B to this Agreement.

     5.3  In order to provide for just and equitable contribution in
          circumstances in which the indemnification provided for in this
          Section 5 is held to be unavailable or insufficient to hold harmless
          the Indemnitees, although applicable in accordance with the terms of
          this Section 5, the Issuer shall contribute to the aggregate costs
          incurred by the Dealer in connection with any Claim in the proportion
          of the respective economic interests of the Issuer and the Dealer;
          provided, however, that such contribution by the Issuer shall be in an
          amount such that the aggregate costs incurred by the Dealer do not
          exceed the aggregate of the commissions and fees earned by the Dealer
          hereunder with respect to the issue or issues of Notes to which such
          Claim relates. The respective economic interests shall be calculated
          by reference to the aggregate proceeds to the Issuer of the Notes
          issued hereunder and the aggregate commissions and fees earned by the
          Dealer hereunder.

6.   DEFINITIONS.

     6.1  "Claim" shall have the meaning set forth in Section 5.1.

     6.2  "Company Information" at any given time shall mean the Private
          Placement Memorandum together with, to the extent applicable, (i) the
          Issuer's most recent report on Form 10-K filed with the SEC and each
          report on Form 10-Q or 8-K filed by the Issuer with the SEC since the
          most recent Form 10-K, (ii) the Issuer's most recent annual audited
          financial statements and each interim financial statement or report
          prepared subsequent thereto, if not included in item (i) above, (iii)
          the Issuer's and its affiliates' other publicly available recent
          reports, including, but not limited to, any publicly available filings
          or reports provided to their respective shareholders, (iv) any other
          information or disclosure prepared pursuant to Section 4.3 hereof and
          (v) any information prepared or approved by the Issuer for
          dissemination to investors or potential investors in the Notes.

     6.3  "Dealer Information" shall mean material concerning the Dealer
          provided by the Dealer in writing expressly for inclusion in the
          Private Placement Memorandum.

     6.4  "Exchange Act" shall mean the U.S. Securities Exchange Act of 1934, as
          amended.

     6.5  "Indemnitee" shall have the meaning set forth in Section 5.1.

     6.6  "Institutional Accredited Investor" shall mean an institutional
          investor that is an accredited investor within the meaning of Rule 501
          under the Securities Act and that has such knowledge and experience in
          financial and business matters that it is capable of evaluating and
          bearing the economic risk of an investment in the Notes, including,
          but not limited to, a bank, as defined in Section 3(a)(2) of the
          Securities Act, or a savings and loan association or other
          institution, as defined in Section 3(a)(5)(A) of the Securities Act,
          whether acting in its individual or fiduciary capacity.

                                                                              10

<PAGE>

     6.7  "Issuing and Paying Agency Agreement" shall mean the issuing and
          paying agency agreement described on the cover page of this Agreement,
          as such agreement may be amended or supplemented from time to time.

     6.8  "Issuing and Paying Agent" shall mean the party designated as such on
          the cover page of this Agreement, as issuing and paying agent under
          the Issuing and Paying Agency Agreement, or any successor thereto in
          accordance with the Issuing and Paying Agency Agreement.

     6.9  "Non-bank fiduciary or agent" shall mean a fiduciary or agent other
          than (a) a bank, as defined in Section 3(a)(2) of the Securities Act,
          or (b) a savings and loan association, as defined in Section
          3(a)(5)(A) of the Securities Act.

     6.10 "Private Placement Memorandum" shall mean offering materials prepared
          in accordance with Section 4 (including materials referred to therein
          or incorporated by reference therein, if any) provided to purchasers
          and prospective purchasers of the Notes, and shall include amendments
          and supplements thereto which may be prepared from time to time in
          accordance with this Agreement (other than any amendment or supplement
          that has been completely superseded by a later amendment or
          supplement).

     6.11 "Qualified Institutional Buyer" shall have the meaning assigned to
          that term in Rule 144A under the Securities Act.

     6.12 "Regulation D" shall mean Regulation D (Rules 501 et seq.) under the
          Securities Act.

     6.13 "Rule 144A" shall mean Rule 144A under the Securities Act.

     6.14 "SEC" shall mean the U.S. Securities and Exchange Commission.

     6.15 "Securities Act" shall mean the U.S. Securities Act of 1933, as
          amended.

     6.16 "Sophisticated Individual Accredited Investor" shall mean an
          individual who (a) is an accredited investor within the meaning of
          Regulation D under the Securities Act and (b) based on his or her
          pre-existing relationship with the Dealer, is reasonably believed by
          the Dealer to be a sophisticated investor (i) possessing such
          knowledge and experience (or represented by a fiduciary or agent
          possessing such knowledge and experience) in financial and business
          matters that he or she is capable of evaluating and bearing the
          economic risk of an investment in the Notes and (ii) having not less
          than $5 million in investments (as defined, for purposes of this
          section, in Rule 2a51-1 under the Investment Company Act of 1940, as
          amended).

7.   GENERAL

     7.1  Unless otherwise expressly provided herein, all notices under this
          Agreement to parties hereto shall be in writing and shall be effective
          when received at the address of the respective party set forth in the
          Addendum to this Agreement.

                                                                              11

<PAGE>

     7.2  This Agreement shall be governed by and construed in accordance with
          the laws of the State of New York, without regard to its conflict of
          laws provisions.

     7.3  Each party agrees that any suit, action or proceeding brought by the
          other against such party in connection with or arising out of this
          Agreement or the Notes or the offer and sale of the Notes shall be
          brought solely in the United States federal courts located in the
          Borough of Manhattan or the courts of the State of New York located in
          the Borough of Manhattan. EACH OF THE DEALER AND THE ISSUER WAIVES ITS
          RIGHT TO TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING WITH RESPECT
          TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

     7.4  This Agreement may be terminated, at any time, by the Issuer, upon one
          business day's prior notice to such effect to the Dealer, or by the
          Dealer upon one business day's prior notice to such effect to the
          Issuer. Any such termination, however, shall not affect the
          obligations of the Issuer under Sections 3.7, 5 and 7.3 hereof or the
          respective representations, warranties, agreements, covenants, rights
          or responsibilities of the parties made or arising prior to the
          termination of this Agreement.

     7.5  This Agreement is not assignable by either party hereto without the
          written consent of the other party; provided, however, that the Dealer
          may assign its rights and obligations under this Agreement to any
          affiliate of the Dealer provided that the Dealer shall not, absent the
          prior written consent of the Issuer, be released from (i) any
          liability to which the Dealer has theretofor become subject as a
          result of the Dealer's prior breach of any of its covenants or
          representations hereunder or (ii) any liability or obligation arising
          out of any transaction initiated hereunder prior to such assignment.

     7.6  This Agreement may be signed in any number of counterparts, each of
          which shall be an original, with the same effect as if the signatures
          thereto and hereto were upon the same instrument.

     7.7  This Agreement is for the exclusive benefit of the parties hereto, and
          their respective permitted successors and assigns hereunder, and shall
          not be deemed to give any legal or equitable right, remedy or claim to
          any other person whatsoever.

     7.8  (a) Any payments to the Dealer hereunder or to any holder from time to
          time of Notes shall be in United States dollars and shall be free of
          all withholding and other taxes and of all other governmental charges
          of any nature whatsoever imposed by the jurisdiction in which the
          Issuer is located. In the event any withholding is required by law,
          the Issuer agrees to (i) pay the same and (ii) pay such additional
          amounts to the Dealer or any such holder which, after deduction of any
          such withholding or other taxes or governmental charges of any nature
          whatsoever imposed with respect to the payment of such additional
          amount, shall equal the amount withheld pursuant to clause (i). The
          Issuer will promptly pay any stamp duty or other taxes or governmental
          charges payable in connection with the execution, delivery, payment or
          performance of this Agreement, the Issuing and Paying Agency Agreement
          or the Notes and shall indemnify and hold harmless the Dealer and each
          holder of Notes from all liabilities arising from any failure to pay,
          or delay in paying, such taxes or charges.

                                                                              12

<PAGE>

          (b) The Issuer agrees to indemnify and hold harmless the Dealer and
          each holder from time to time of Notes against any loss incurred by
          the Dealer or such holder as a result of any judgment or order being
          given or made for any amount due hereunder and such judgment or order
          being expressed and paid in a currency (the "Judgment Currency") other
          than United States dollars and as a result of any variation as between
          (i) the rate of exchange at which the United States dollar amount is
          converted into the Judgment Currency for the purpose of such judgment
          or order, and (ii) the rate of exchange at which the Dealer or such
          holder is able to purchase United States dollars with the amount of
          Judgment Currency actually received by the Dealer or such holder. The
          foregoing indemnity shall constitute a separate and independent
          obligation of the Issuer and shall continue in full force and effect
          notwithstanding any such judgment or order as aforesaid. The term
          "rate of exchange" shall include any premiums and costs of exchange
          payable in connection with the purchase of, or conversion into, the
          relevant currency.

     7.9  The Issuer acknowledges and agrees that (i) the purchase and sale of
          the Notes pursuant to this Agreement is an arm's-length commercial
          transaction between the Issuer, on the one hand, and the Dealer, on
          the other, (ii) in connection therewith and with the process leading
          to such transaction the Dealer is acting solely as a principal and not
          the agent or fiduciary of the Issuer, (iii) the Dealer has not assumed
          an advisory or fiduciary responsibility in favor of the Issuer with
          respect to the offering contemplated hereby or the process leading
          thereto (irrespective of whether the Dealer has advised or is
          currently advising the Issuer on other matters) or any other
          obligation to the Issuer except the obligations expressly set forth in
          this Agreement and (iv) the Issuer has consulted its own legal and
          financial advisors to the extent it deemed appropriate. The Issuer
          agrees that it will not claim that the Dealer has rendered advisory
          services of any nature or respect, or owes a fiduciary or similar duty
          to the Issuer, in connection with such transaction or the process
          leading thereto.

This Agreement supersedes all prior agreements and understandings (whether
written or oral) between the Issuer and the Dealer, or any of them, with respect
to the subject matter hereof.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
as of the date and year first above written.

SYSCO CORPORATION, AS ISSUER            GOLDMAN, SACHS & CO., AS DEALER

By: /s/ Kathy Oates Gish                By: /s/ Joseph H. Ziluca
    ---------------------------------       ------------------------------------
Name: Kathy Oates Gish                  Name: Joseph H. Ziluca
Title: Vice President and Asst.         Title: AUTHORIZED SIGNATORY
       Treasurer

                                                                              13
<PAGE>

ADDENDUM

The following additional clauses shall apply to the Agreement and be deemed a
part thereof.

1.   The other dealer referred to in clause (b) of Section 1.2 of the Agreement
     is J.P. Morgan Securities, Inc.

2.   The addresses of the respective parties for purposes of notices under
     Section 7.1 are as follows:

For the Issuer:   Sysco Corporation
Address:          1390 Enclave Parkway, Houston, Texas 77077
Attention:        Kathy Oates Gish, Vice President and Assistant Treasurer
Telephone number: 281-584-1443
Fax number:       281-584-1792

For the Dealer:   Goldman, Sachs & Co.
Address:          85 Broad Street, New York, New York 10004
Attention:        Money Market Origination
Telephone number: 212-902-6181
Fax number:       212-902-0683

                                                                              14

<PAGE>

EXHIBIT A

FORM OF LEGEND FOR PRIVATE PLACEMENT MEMORANDUM AND NOTES

THE NOTES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE "ACT"), OR ANY OTHER APPLICABLE SECURITIES LAW, AND OFFERS AND SALES
THEREOF MAY BE MADE ONLY IN COMPLIANCE WITH AN APPLICABLE EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS.
BY ITS ACCEPTANCE OF A NOTE, THE PURCHASER WILL BE DEEMED TO REPRESENT THAT (I)
IT HAS BEEN AFFORDED AN OPPORTUNITY TO INVESTIGATE MATTERS RELATING TO THE
ISSUER AND THE NOTES, (II) IT IS NOT ACQUIRING SUCH NOTE WITH A VIEW TO ANY
DISTRIBUTION THEREOF AND (III) IT IS EITHER (A)(1) AN INSTITUTIONAL INVESTOR OR
SOPHISTICATED INDIVIDUAL INVESTOR THAT IS AN ACCREDITED INVESTOR WITHIN THE
MEANING OF RULE 501(a) UNDER THE ACT AND WHICH, IN THE CASE OF AN INDIVIDUAL,
(i) POSSESSES SUCH KNOWLEDGE AND EXPERIENCE IN FINANCIAL AND BUSINESS MATTERS
THAT HE OR SHE IS CAPABLE OF EVALUATING AND BEARING THE ECONOMIC RISK OF AN
INVESTMENT IN THE NOTES AND (ii) HAS NOT LESS THAN $5 MILLION IN INVESTMENTS (AN
"INSTITUTIONAL ACCREDITED INVESTOR" OR "SOPHISTICATED INDIVIDUAL ACCREDITED
INVESTOR", RESPECTIVELY) AND (2)(i) PURCHASING NOTES FOR ITS OWN ACCOUNT, (ii) A
BANK (AS DEFINED IN SECTION 3(a)(2) OF THE ACT) OR A SAVINGS AND LOAN
ASSOCIATION OR OTHER INSTITUTION (AS DEFINED IN SECTION 3(a)(5)(A) OF THE ACT)
ACTING IN ITS INDIVIDUAL OR FIDUCIARY CAPACITY, PROVIDED THAT, IF IT IS ACTING
IN A FIDUCIARY CAPACITY, IT HAS SOLE INVESTMENT DISCRETION WITH RESPECT TO ANY
ACCOUNT FOR WHICH IT IS PURCHASING A NOTE, OR (iii) A FIDUCIARY OR AGENT (OTHER
THAN A U.S. BANK OR SAVINGS AND LOAN ASSOCIATION) PURCHASING NOTES FOR ONE OR
MORE ACCOUNTS EACH OF WHICH ACCOUNTS IS SUCH AN INSTITUTIONAL ACCREDITED
INVESTOR OR SOPHISTICATED INDIVIDUAL ACCREDITED INVESTOR; OR (B) A QUALIFIED
INSTITUTIONAL BUYER ("QIB") WITHIN THE MEANING OF RULE 144A UNDER THE ACT THAT
IS ACQUIRING NOTES FOR ITS OWN ACCOUNT OR FOR ONE OR MORE ACCOUNTS, EACH OF
WHICH ACCOUNTS IS A QIB; AND THE PURCHASER ACKNOWLEDGES THAT IT IS AWARE THAT
THE SELLER MAY RELY UPON THE EXEMPTION FROM THE REGISTRATION PROVISIONS OF
SECTION 5 OF THE ACT PROVIDED BY RULE 144A. BY ITS ACCEPTANCE OF A NOTE, THE
PURCHASER THEREOF SHALL ALSO BE DEEMED TO AGREE THAT ANY RESALE OR OTHER
TRANSFER THEREOF WILL BE MADE ONLY (A) IN A TRANSACTION EXEMPT FROM REGISTRATION
UNDER THE ACT, EITHER (1) TO THE ISSUER OR TO A PLACEMENT AGENT DESIGNATED BY
THE ISSUER AS A PLACEMENT AGENT FOR THE NOTES (COLLECTIVELY, THE "PLACEMENT
AGENTS"), NONE OF WHICH SHALL HAVE ANY OBLIGATION TO ACQUIRE SUCH NOTE, (2)
THROUGH A PLACEMENT AGENT TO AN INSTITUTIONAL ACCREDITED INVESTOR, SOPHISTICATED
INDIVIDUAL ACCREDITED INVESTOR OR A QIB, OR (3) TO A QIB IN A TRANSACTION THAT
MEETS THE REQUIREMENTS OF RULE 144A AND (B) IN MINIMUM AMOUNTS OF $250,000.

                                                                              15

<PAGE>

EXHIBIT B

FURTHER PROVISIONS RELATING TO INDEMNIFICATION

(a)  The Issuer agrees to reimburse each Indemnitee for all expenses (including
     reasonable fees and disbursements of internal and external counsel) as they
     are incurred by it in connection with investigating or defending any loss,
     claim, damage, liability or action in respect of which indemnification may
     be sought under Section 5 of the Agreement (whether or not it is a party to
     any such proceedings).

(b)  Promptly after receipt by an Indemnitee of notice of the existence of a
     Claim, such Indemnitee will, if a claim in respect thereof is to be made
     against the Issuer, notify the Issuer in writing of the existence thereof;
     provided that (i) the omission so to notify the Issuer will not relieve the
     Issuer from any liability which it may have hereunder unless and except to
     the extent it did not otherwise learn of such Claim and such failure
     results in the forfeiture by the Issuer of substantial rights and defenses,
     and (ii) the omission so to notify the Issuer will not relieve it from
     liability which it may have to an Indemnitee otherwise than on account of
     this indemnity agreement. In case any such Claim is made against any
     Indemnitee and it notifies the Issuer of the existence thereof, the Issuer
     will be entitled to participate therein, and to the extent that it may
     elect by written notice delivered to the Indemnitee, to assume the defense
     thereof, with counsel reasonably satisfactory to such Indemnitee; provided
     that if the defendants in any such Claim include both the Indemnitee and
     the Issuer, and the Indemnitee shall have concluded that there may be legal
     defenses available to it which are different from or additional to those
     available to the Issuer, the Issuer shall not have the right to direct the
     defense of such Claim on behalf of such Indemnitee, and the Indemnitee
     shall have the right to select separate counsel to assert such legal
     defenses on behalf of such Indemnitee. Upon receipt of notice from the
     Issuer to such Indemnitee of the Issuer's election so to assume the defense
     of such Claim and approval by the Indemnitee of counsel, the Issuer will
     not be liable to such Indemnitee for expenses incurred thereafter by the
     Indemnitee in connection with the defense thereof (other than reasonable
     costs of investigation) unless (i) the Indemnitee shall have employed
     separate counsel in connection with the assertion of legal defenses in
     accordance with the proviso to the next preceding sentence (it being
     understood, however, that the Issuer shall not be liable for the expenses
     of more than one separate counsel (in addition to any local counsel in the
     jurisdiction in which any Claim is brought), approved by the Dealer,
     representing the Indemnitee who is party to such Claim), (ii) the Issuer
     shall not have employed counsel reasonably satisfactory to the Indemnitee
     to represent the Indemnitee within a reasonable time after notice of
     existence of the Claim or (iii) the Issuer has authorized in writing the
     employment of counsel for the Indemnitee. The indemnity, reimbursement and
     contribution obligations of the Issuer hereunder shall be in addition to
     any other liability the Issuer may otherwise have to an Indemnitee and
     shall be binding upon and inure to the benefit of any successors, assigns,
     heirs and personal representatives of the Issuer and any Indemnitee. The
     Issuer agrees that without the Dealer's prior written consent, it will not
     settle, compromise or consent to the entry of any judgment in any Claim in
     respect of which indemnification may be sought under the indemnification
     provision of the Agreement (whether or not the Dealer or any other
     Indemnitee is an actual or potential party to such Claim), unless such
     settlement, compromise or consent (i) includes an unconditional release of
     each Indemnitee from all liability arising out of such Claim and (ii) does
     not include a statement as to or an admission of fault, culpability or
     failure to act, by or on behalf of any Indemnitee.

                                                                              16

<PAGE>

EXHIBIT C

STATEMENT OF TERMS FOR INTEREST - BEARING COMMERCIAL PAPER NOTES OF SYSCO
CORPORATION

THE PROVISIONS SET FORTH BELOW ARE QUALIFIED TO THE EXTENT APPLICABLE BY THE
TRANSACTION SPECIFIC [PRICING] [PRIVATE PLACEMENT MEMORANDUM] SUPPLEMENT (THE
"SUPPLEMENT") (IF ANY) SENT TO EACH PURCHASER AT THE TIME OF THE TRANSACTION.

     1. General. (a) The obligations of the Issuer to which these terms apply
     (each a "Note") are represented by one or more Master Notes (each, a
     "Master Note") issued in the name of (or of a nominee for) The Depository
     Trust Company ("DTC"), which Master Note includes the terms and provisions
     for the Issuer's Interest-Bearing Commercial Paper Notes that are set forth
     in this Statement of Terms, since this Statement of Terms constitutes an
     integral part of the Underlying Records as defined and referred to in the
     Master Note.

     (b) "Business Day" means any day other than a Saturday or Sunday that is
     neither a legal holiday nor a day on which banking institutions are
     authorized or required by law, executive order or regulation to be closed
     in New York City and, with respect to LIBOR Notes (as defined below) is
     also a London Business Day. "London Business Day" means, a day, other than
     a Saturday or Sunday, on which dealings in deposits in U.S. dollars are
     transacted in the London interbank market.

     2. Interest. (a) Each Note will bear interest at a fixed rate (a "Fixed
     Rate Note") or at a floating rate (a "Floating Rate Note").

     (b) The Supplement sent to each holder of such Note will describe the
     following terms: (i) whether such Note is a Fixed Rate Note or a Floating
     Rate Note and whether such Note is an Original Issue Discount Note (as
     defined below); (ii) the date on which such Note will be issued (the "Issue
     Date"); (iii) the Stated Maturity Date (as defined below); (iv) if such
     Note is a Fixed Rate Note, the rate per annum at which such Note will bear
     interest, if any, and the Interest Payment Dates; (v) if such Note is a
     Floating Rate Note, the Base Rate, the Index Maturity, the Interest Reset
     Dates, the Interest Payment Dates and the Spread and/or Spread Multiplier,
     if any (all as defined below), and any other terms relating to the
     particular method of calculating the interest rate for such Note; and (vi)
     any other terms applicable specifically to such Note. "Original Issue
     Discount Note" means a Note which has a stated redemption price at the
     Stated Maturity Date that exceeds its Issue Price by more than a specified
     de minimis amount and which the Supplement indicates will be an "Original
     Issue Discount Note".

     (c) Each Fixed Rate Note will bear interest from its Issue Date at the rate
     per annum specified in the Supplement until the principal amount thereof is
     paid or made available for payment. Interest on each Fixed Rate Note will
     be payable on the dates specified in the Supplement (each an "Interest
     Payment Date" for a Fixed Rate Note) and on the Maturity Date (as defined
     below). Interest on Fixed Rate Notes will be computed on the basis of a
     360-day year of twelve 30-day months.

     If any Interest Payment Date or the Maturity Date of a Fixed Rate Note
     falls on a day that is not a Business Day, the required payment of
     principal, premium, if any, and/or interest will be payable on

                                                                              17

<PAGE>

     the next succeeding Business Day, and no additional interest will accrue in
     respect of the payment made on that next succeeding Business Day.

     (d) The interest rate on each Floating Rate Note for each Interest Reset
     Period (as defined below) will be determined by reference to an interest
     rate basis (a "Base Rate") plus or minus a number of basis points (one
     basis point equals one-hundredth of a percentage point) (the "Spread"), if
     any, and/or multiplied by a certain percentage (the "Spread Multiplier"),
     if any, until the principal thereof is paid or made available for payment.
     The Supplement will designate which of the following Base Rates is
     applicable to the related Floating Rate Note: (a) the CD Rate (a "CD Rate
     Note"), (b) the Commercial Paper Rate (a "Commercial Paper Rate Note"), (c)
     the Federal Funds Rate (a "Federal Funds Rate Note"), (d) LIBOR (a "LIBOR
     Note"), (e) the Prime Rate (a "Prime Rate Note"), (f) the Treasury Rate (a
     "Treasury Rate Note") or (g) such other Base Rate as may be specified in
     such Supplement.

     The rate of interest on each Floating Rate Note will be reset daily,
     weekly, monthly, quarterly or semi-annually (the "Interest Reset Period").
     The date or dates on which interest will be reset (each an "Interest Reset
     Date") will be, unless otherwise specified in the Supplement, in the case
     of Floating Rate Notes which reset daily, each Business Day, in the case of
     Floating Rate Notes (other than Treasury Rate Notes) that reset weekly, the
     Wednesday of each week; in the case of Treasury Rate Notes that reset
     weekly, the Tuesday of each week; in the case of Floating Rate Notes that
     reset monthly, the third Wednesday of each month; in the case of Floating
     Rate Notes that reset quarterly, the third Wednesday of March, June,
     September and December; and in the case of Floating Rate Notes that reset
     semiannually, the third Wednesday of the two months specified in the
     Supplement. If any Interest Reset Date for any Floating Rate Note is not a
     Business Day, such Interest Reset Date will be postponed to the next day
     that is a Business Day, except that in the case of a LIBOR Note, if such
     Business Day is in the next succeeding calendar month, such Interest Reset
     Date shall be the immediately preceding Business Day. Interest on each
     Floating Rate Note will be payable monthly, quarterly or semiannually (the
     "Interest Payment Period") and on the Maturity Date. Unless otherwise
     specified in the Supplement, and except as provided below, the date or
     dates on which interest will be payable (each an "Interest Payment Date"
     for a Floating Rate Note) will be, in the case of Floating Rate Notes with
     a monthly Interest Payment Period, on the third Wednesday of each month; in
     the case of Floating Rate Notes with a quarterly Interest Payment Period,
     on the third Wednesday of March, June, September and December; and in the
     case of Floating Rate Notes with a semiannual Interest Payment Period, on
     the third Wednesday of the two months specified in the Supplement. In
     addition, the Maturity Date will also be an Interest Payment Date.

     If any Interest Payment Date for any Floating Rate Note (other than an
     Interest Payment Date occurring on the Maturity Date) would otherwise be a
     day that is not a Business Day, such Interest Payment Date shall be
     postponed to the next day that is a Business Day, except that in the case
     of a LIBOR Note, if such Business Day is in the next succeeding calendar
     month, such Interest Payment Date shall be the immediately preceding
     Business Day. If the Maturity Date of a Floating Rate Note falls on a day
     that is not a Business Day, the payment of principal and interest will be
     made on the next succeeding Business Day, and no interest on such payment
     shall accrue for the period from and after such maturity.

                                                                              18

<PAGE>

     Interest payments on each Interest Payment Date for Floating Rate Notes
     will include accrued interest from and including the Issue Date or from and
     including the last date in respect of which interest has been paid, as the
     case may be, to, but excluding, such Interest Payment Date. On the Maturity
     Date, the interest payable on a Floating Rate Note will include interest
     accrued to, but excluding, the Maturity Date. Accrued interest will be
     calculated by multiplying the principal amount of a Floating Rate Note by
     an accrued interest factor. This accrued interest factor will be computed
     by adding the interest factors calculated for each day in the period for
     which accrued interest is being calculated. The interest factor (expressed
     as a decimal) for each such day will be computed by dividing the interest
     rate applicable to such day by 360, in the cases where the Base Rate is the
     CD Rate, Commercial Paper Rate, Federal Funds Rate, LIBOR or Prime Rate, or
     by the actual number of days in the year, in the case where the Base Rate
     is the Treasury Rate. The interest rate in effect on each day will be (i)
     if such day is an Interest Reset Date, the interest rate with respect to
     the Interest Determination Date (as defined below) pertaining to such
     Interest Reset Date, or (ii) if such day is not an Interest Reset Date, the
     interest rate with respect to the Interest Determination Date pertaining to
     the next preceding Interest Reset Date, subject in either case to any
     adjustment by a Spread and/or a Spread Multiplier.

     The "Interest Determination Date" where the Base Rate is the CD Rate or the
     Commercial Paper Rate will be the second Business Day next preceding an
     Interest Reset Date. The Interest Determination Date where the Base Rate is
     the Federal Funds Rate or the Prime Rate will be the Business Day next
     preceding an Interest Reset Date. The Interest Determination Date where the
     Base Rate is LIBOR will be the second London Business Day next preceding an
     Interest Reset Date. The Interest Determination Date where the Base Rate is
     the Treasury Rate will be the day of the week in which such Interest Reset
     Date falls when Treasury Bills are normally auctioned. Treasury Bills are
     normally sold at auction on Monday of each week, unless that day is a legal
     holiday, in which case the auction is held on the following Tuesday or the
     preceding Friday. If an auction is so held on the preceding Friday, such
     Friday will be the Interest Determination Date pertaining to the Interest
     Reset Date occurring in the next succeeding week.

     The "Index Maturity" is the period to maturity of the instrument or
     obligation from which the applicable Base Rate is calculated.

     The "Calculation Date," where applicable, shall be the earlier of (i) the
     tenth calendar day following the applicable Interest Determination Date or
     (ii) the Business Day preceding the applicable Interest Payment Date or
     Maturity Date.

     All times referred to herein reflect New York City time, unless otherwise
     specified.

     The Issuer shall specify in writing to the Issuing and Paying Agent which
     party will be the calculation agent (the "Calculation Agent") with respect
     to the Floating Rate Notes. The Calculation Agent will provide the interest
     rate then in effect and, if determined, the interest rate which will become
     effective on the next Interest Reset Date with respect to such Floating
     Rate Note to the Issuing and Paying Agent as soon as the interest rate with
     respect to such Floating Rate Note has been determined and as soon as
     practicable after any change in such interest rate.

                                                                              19

<PAGE>

     All percentages resulting from any calculation on Floating Rate Notes will
     be rounded to the nearest one hundred-thousandth of a percentage point,
     with five-one millionths of a percentage point rounded upwards. For
     example, 9.876545% (or .09876545) would be rounded to 9.87655% (or
     .0987655). All dollar amounts used in or resulting from any calculation on
     Floating Rate Notes will be rounded, in the case of U.S. dollars, to the
     nearest cent or, in the case of a foreign currency, to the nearest unit
     (with one-half cent or unit being rounded upwards).

CD Rate Notes

     "CD Rate" means the rate on any Interest Determination Date for negotiable
     certificates of deposit having the Index Maturity as published by the Board
     of Governors of the Federal Reserve System (the "FRB") in "Statistical
     Release H.15(519), Selected Interest Rates" or any successor publication of
     the FRB ("H.15(519)") under the heading "CDs (Secondary Market)".

     If the above rate is not published in H.15(519) by 3:00 p.m. on the
     Calculation Date, the CD Rate will be the rate on such Interest
     Determination Date set forth in the daily update of H.15(519), available
     through the world wide website of the FRB at
     http://www.federalreserve.gov/releases/h15/Update, or any successor site or
     publication or other recognized electronic source used for the purpose of
     displaying the applicable rate ("H.15 Daily Update") under the caption "CDs
     (Secondary Market)".

     If such rate is not published in either H.15(519) or H.15 Daily Update by
     3:00 p.m. on the Calculation Date, the Calculation Agent will determine the
     CD Rate to be the arithmetic mean of the secondary market offered rates as
     of 10:00 a.m. on such Interest Determination Date of three leading nonbank
     dealers(1) in negotiable U.S. dollar certificates of deposit in New York
     City selected by the Calculation Agent for negotiable U.S. dollar
     certificates of deposit of major United States money center banks of the
     highest credit standing in the market for negotiable certificates of
     deposit with a remaining maturity closest to the Index Maturity in the
     denomination of $5,000,000.

     If the dealers selected by the Calculation Agent are not quoting as set
     forth above, the CD Rate will remain the CD Rate then in effect on such
     Interest Determination Date.

Commercial Paper Rate Notes

     "Commercial Paper Rate" means the Money Market Yield (calculated as
     described below) of the rate on any Interest Determination Date for
     commercial paper having the Index Maturity, as published in H.15(519) under
     the heading "Commercial Paper-Nonfinancial".

     If the above rate is not published in H.15(519) by 3:00 p.m. on the
     Calculation Date, then the Commercial Paper Rate will be the Money Market
     Yield of the rate on such Interest Determination Date for commercial paper
     of the Index Maturity as published in H.15 Daily Update under the heading
     "Commercial Paper-Nonfinancial".

     If by 3:00 p.m. on such Calculation Date such rate is not published in
     either H.15(519) or H.15 Daily Update, then the Calculation Agent will
     determine the Commercial Paper Rate to be the Money Market Yield of the
     arithmetic mean of the offered rates as of 11:00 a.m. on such Interest

(1)  Such nonbank dealers referred to in this Statement of Terms may include
     affiliates of the Dealer.

                                                                              20

<PAGE>

     Determination Date of three leading dealers of U.S. dollar commercial paper
     in New York City selected by the Calculation Agent for commercial paper of
     the Index Maturity placed for an industrial issuer whose bond rating is
     "AA," or the equivalent, from a nationally recognized statistical rating
     organization.

     If the dealers selected by the Calculation Agent are not quoting as
     mentioned above, the Commercial Paper Rate with respect to such Interest
     Determination Date will remain the Commercial Paper Rate then in effect on
     such Interest Determination Date.

     "Money Market Yield" will be a yield calculated in accordance with the
     following formula:

                              D x 360
      Money Market Yield = ------------- x 100
                           360 - (D x M)

     where "D" refers to the applicable per annum rate for commercial paper
     quoted on a bank discount basis and expressed as a decimal and "M" refers
     to the actual number of days in the interest period for which interest is
     being calculated.

Federal Funds Rate Notes

     "Federal Funds Rate" means the rate on any Interest Determination Date for
     federal funds as published in H.15(519) under the heading "Federal Funds
     (Effective)" and displayed on Moneyline Telerate (or any successor service)
     on page 120 (or any other page as may replace the specified page on that
     service) ("Telerate Page 120").

     If the above rate does not appear on Telerate Page 120 or is not so
     published by 3:00 p.m. on the Calculation Date, the Federal Funds Rate will
     be the rate on such Interest Determination Date as published in H.15 Daily
     Update under the heading "Federal Funds/(Effective)".

     If such rate is not published as described above by 3:00 p.m. on the
     Calculation Date, the Calculation Agent will determine the Federal Funds
     Rate to be the arithmetic mean of the rates for the last transaction in
     overnight U.S. dollar federal funds arranged by each of three leading
     brokers of Federal Funds transactions in New York City selected by the
     Calculation Agent prior to 9:00 a.m. on such Interest Determination Date.

     If the brokers selected by the Calculation Agent are not quoting as
     mentioned above, the Federal Funds Rate will remain the Federal Funds Rate
     then in effect on such Interest Determination Date.

LIBOR Notes

     The London Interbank offered rate ("LIBOR") means, with respect to any
     Interest Determination Date, the rate for deposits in U.S. dollars having
     the Index Maturity that appears on the Designated LIBOR Page as of 11:00
     a.m., London time, on such Interest Determination Date.

     If no rate appears, LIBOR will be determined on the basis of the rates at
     approximately 11:00 a.m., London time, on such Interest Determination Date
     at which deposits in U.S. dollars are offered to

                                                                              21

<PAGE>

     prime banks in the London interbank market by four major banks in such
     market selected by the Calculation Agent for a term equal to the Index
     Maturity and in principal amount equal to an amount that in the Calculation
     Agent's judgment is representative for a single transaction in U.S. dollars
     in such market at such time (a "Representative Amount"). The Calculation
     Agent will request the principal London office of each of such banks to
     provide a quotation of its rate. If at least two such quotations are
     provided, LIBOR will be the arithmetic mean of such quotations. If fewer
     than two quotations are provided, LIBOR for such interest period will be
     the arithmetic mean of the rates quoted at approximately 11:00 a.m., in New
     York City, on such Interest Determination Date by three major banks in New
     York City, selected by the Calculation Agent, for loans in U.S. dollars to
     leading European banks, for a term equal to the Index Maturity and in a
     Representative Amount; provided, however, that if fewer than three banks so
     selected by the Calculation Agent are providing such quotations, the then
     existing LIBOR rate will remain in effect for such Interest Payment Period.

     "Designated LIBOR Page" means the display designated as page "3750" on
     Moneyline Telerate (or such other page as may replace the 3750 page on that
     service or such other service or services as may be nominated by the
     British Bankers' Association for the purposes of displaying London
     interbank offered rates for U.S. dollar deposits).

Prime Rate Notes

     "Prime Rate" means the rate on any Interest Determination Date as published
     in H.15(519) under the heading "Bank Prime Loan".

     If the above rate is not published in H.15(519) prior to 3:00 p.m. on the
     Calculation Date, then the Prime Rate will be the rate on such Interest
     Determination Date as published in H.15 Daily Update opposite the caption
     "Bank Prime Loan".

     If the rate is not published prior to 3:00 p.m. on the Calculation Date in
     either H.15(519) or H.15 Daily Update, then the Calculation Agent will
     determine the Prime Rate to be the arithmetic mean of the rates of interest
     publicly announced by each bank that appears on the Reuters Screen US
     PRIME1 Page (as defined below) as such bank's prime rate or base lending
     rate as of 11:00 a.m., on that Interest Determination Date.

     If fewer than four such rates referred to above are so published by 3:00
     p.m. on the Calculation Date, the Calculation Agent will determine the
     Prime Rate to be the arithmetic mean of the prime rates or base lending
     rates quoted on the basis of the actual number of days in the year divided
     by 360 as of the close of business on such Interest Determination Date by
     three major banks in New York City selected by the Calculation Agent.

     If the banks selected are not quoting as mentioned above, the Prime Rate
     will remain the Prime Rate in effect on such Interest Determination Date.

     "Reuters Screen US PRIME1 Page" means the display designated as page "US
     PRIME1" on the Reuters Monitor Money Rates Service (or such other page as
     may replace the US PRIME1 page on that service for the purpose of
     displaying prime rates or base lending rates of major United States banks).

                                                                              22

<PAGE>

Treasury Rate Notes

"Treasury Rate" means:

     (1) the rate from the auction held on the Interest Determination Date (the
     "Auction") of direct obligations of the United States ("Treasury Bills")
     having the Index Maturity specified in the Supplement under the caption
     "INVESTMENT RATE" on the display on Moneyline Telerate (or any successor
     service) on page 56 (or any other page as may replace that page on that
     service) ("Telerate Page 56") or page 57 (or any other page as may replace
     that page on that service) ("Telerate Page 57"), or

     (2) if the rate referred to in clause (1) is not so published by 3:00 p.m.
     on the related Calculation Date, the Bond Equivalent Yield (as defined
     below) of the rate for the applicable Treasury Bills as published in H.15
     Daily Update, under the caption "U.S. Government Securities/Treasury
     Bills/Auction High", or

     (3) if the rate referred to in clause (2) is not so published by 3:00 p.m.
     on the related Calculation Date, the Bond Equivalent Yield of the auction
     rate of the applicable Treasury Bills as announced by the United States
     Department of the Treasury, or

     (4) if the rate referred to in clause (3) is not so announced by the United
     States Department of the Treasury, or if the Auction is not held, the Bond
     Equivalent Yield of the rate on the particular Interest Determination Date
     of the applicable Treasury Bills as published in H.15(519) under the
     caption "U.S. Government Securities/Treasury Bills/Secondary Market", or

     (5) if the rate referred to in clause (4) is not so published by 3:00 p.m.
     on the related Calculation Date, the rate on the particular Interest
     Determination Date of the applicable Treasury Bills as published in H.15
     Daily Update, under the caption "U.S. Government Securities/Treasury
     Bills/Secondary Market", or

     (6) if the rate referred to in clause (5) is not so published by 3:00 p.m.
     on the related Calculation Date, the rate on the particular Interest
     Determination Date calculated by the Calculation Agent as the Bond
     Equivalent Yield of the arithmetic mean of the secondary market bid rates,
     as of approximately 3:30 p.m. on that Interest Determination Date, of three
     primary United States government securities dealers selected by the
     Calculation Agent, for the issue of Treasury Bills with a remaining
     maturity closest to the Index Maturity specified in the Supplement, or

     (7) if the dealers so selected by the Calculation Agent are not quoting as
     mentioned in clause (6), the Treasury Rate in effect on the particular
     Interest Determination Date.

"Bond Equivalent Yield" means a yield (expressed as a percentage) calculated in
accordance with the following formula:

                            D x N
Bond Equivalent Yield = ------------- x 100
                        360 - (D x M)

                                                                              23

<PAGE>

     where "D" refers to the applicable per annum rate for Treasury Bills quoted
     on a bank discount basis and expressed as a decimal, "N" refers to 365 or
     366, as the case may be, and "M" refers to the actual number of days in the
     applicable Interest Reset Period.

3.   Final Maturity. The Stated Maturity Date for any Note will be the date so
     specified in the Supplement, which shall be no later than 270 days from the
     date of issuance. On its Stated Maturity Date, or any date prior to the
     Stated Maturity Date on which the particular Note becomes due and payable
     by the declaration of acceleration, each such date being referred to as a
     Maturity Date, the principal amount of each Note, together with accrued and
     unpaid interest thereon, will be immediately due and payable.

4.   Events of Default. The occurrence of any of the following shall constitute
     an "Event of Default" with respect to a Note: (i) default in any payment of
     principal of or interest on such Note (including on a redemption thereof);
     (ii) the Issuer makes any compromise arrangement with its creditors
     generally including the entering into any form of moratorium with its
     creditors generally; (iii) a court having jurisdiction shall enter a decree
     or order for relief in respect of the Issuer in an involuntary case under
     any applicable bankruptcy, insolvency or other similar law now or hereafter
     in effect, or there shall be appointed a receiver, administrator,
     liquidator, custodian, trustee or sequestrator (or similar officer) with
     respect to the whole or substantially the whole of the assets of the Issuer
     and any such decree, order or appointment is not removed, discharged or
     withdrawn within 60 days thereafter; or (iv) the Issuer shall commence a
     voluntary case under any applicable bankruptcy, insolvency or other similar
     law now or hereafter in effect, or consent to the entry of an order for
     relief in an involuntary case under any such law, or consent to the
     appointment of or taking possession by a receiver, administrator,
     liquidator, assignee, custodian, trustee or sequestrator (or similar
     official), with respect to the whole or substantially the whole of the
     assets of the Issuer or make any general assignment for the benefit of
     creditors. Upon the occurrence of an Event of Default, the principal of
     each obligation evidenced by such Note (together with interest accrued and
     unpaid thereon) shall become, without any notice or demand, immediately due
     and payable.(2)

5.   Obligation Absolute. No provision of the Issuing and Paying Agency
     Agreement under which the Notes are issued shall alter or impair the
     obligation of the Issuer, which is absolute and unconditional, to pay the
     principal of and interest on each Note at the times, place and rate, and in
     the coin or currency, herein prescribed.

6.   Supplement. Any term contained in the Supplement shall supercede any
     conflicting term contained herein.

(2)  Unlike single payment notes, where a default arises only at the stated
     maturity, interest-bearing notes with multiple payment dates should contain
     a default provision permitting acceleration of the maturity if the Issuer
     defaults on an interest payment.

                                                                              24

<PAGE>

EXHIBIT D

     In the case of any agreement by the Dealer to purchase a Note hereunder
(other than as agent) which provides for a settlement date that is three New
York Business Days or more after the date of such agreement, the obligation of
the Dealer to purchase the Note under such agreement shall be subject to the
following conditions:

     (a)  the representations and warranties given by the Issuer set forth above
          in Section 1.8 and Section 2 shall be true and correct on and as of
          the settlement date as if made on and as of such date, and the Issuer
          shall have performed all of its obligations hereunder to be performed
          as of such date,

     (b)  since the date of the most recent Private Placement Memorandum, there
          shall have been no material adverse change in the condition (financial
          or otherwise), operations or business prospects of the Issuer (whether
          occurring before or after such agreement was entered into) which was
          not disclosed to the Dealer in writing prior to the time such
          agreement was entered into,

     (c)  the Issuer shall not be in default of any of its obligations
          hereunder, under the Notes or under the Issuing and Paying Agency
          Agreement,

     (d)  on or after the date of such agreement there shall not have occurred
          any of the following: (i) a suspension or material limitation in
          trading in securities generally on the New York Stock Exchange; ; (ii)
          a suspension or material limitation in trading in the Issuer's
          securities on the New York Stock Exchange; (iii) a general moratorium
          on commercial banking activities declared by either Federal or New
          York authorities or a material disruption in commercial banking or
          securities settlement or clearance services in the United States; (iv)
          the outbreak or escalation of hostilities involving the United States
          or the declaration by the United States of a national emergency or war
          or (v) the occurrence of any other calamity or crisis or any change in
          financial, political or economic conditions in the United States or
          elsewhere, if the effect of any such event specified in clause (iv) or
          (v) in the judgment of the Dealer makes it impracticable or
          inadvisable to proceed with the offering or the delivery of the Note
          on the terms and in the manner contemplated in the Private Placement
          Memorandum, and

     (e)  on or after the date of such agreement, (i) no downgrading shall have
          occurred in the rating accorded the Issuer's debt securities by any
          nationally recognized statistical rating organization and (ii) no such
          organization shall have publicly announced that it has under
          surveillance or review, with possible negative implications, its
          rating of any of the Issuer's debt securities.

"New York Business Day" shall mean each Monday, Tuesday, Wednesday, Thursday and
Friday which is not a day on which banking institutions in New York are
generally authorized or obligated by law or executive order to close.

                                                                              25

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