First Amendment to Trust Agreement for Deferral Plan for Senior Executive Officers of Triarc Companies, Inc. (Participant Nelson Peltz)

Contract Categories: Business Finance Trust Agreements
Summary

Triarc Companies, Inc. and Wilmington Trust Company have amended their trust agreement related to the Deferral Plan for Senior Executive Officers, specifically to identify Nelson Peltz as the participant in the trust's name. The amendment updates the title and certain language in the agreement to reflect this change. The trust holds assets for the benefit of Nelson Peltz, subject to the company's creditors in case of insolvency, and outlines how and when benefits are paid. The amendment is effective as of April 6, 2001.

EX-10.1 3 peltzexh1.txt FIRST AMENDMENT - N. PELTZ Exhibit 10.1 FIRST AMENDMENT TO THE TRUST AGREEMENT FOR THE DEFERRAL PLAN FOR SENIOR EXECUTIVE OFFICERS OF TRIARC COMPANIES, INC. WHEREAS, Triarc Companies, Inc., a Delaware Corporation (the "Company"), has adopted the Deferral Plan for Senior Executive Officers of Triarc Companies, Inc., effective December 14, 2000 (the "Plan"); WHEREAS, the Company and Wilmington Trust Company, a Delaware bank and trust company (the "Trustee"), entered into a Trust Agreement for the Deferral Plan for Senior Executive Officers of Triarc Companies, Inc., as of January 23, 2001 (the "Trust Agreement"), under the Plan in order to provide a source for the payment of benefits under the Plan to Nelson Peltz, a participant in the Plan; WHEREAS, Company has determined that it is desirable to amend the Trust Agreement to identify in the name of the Trust Agreement that the trust formed pursuant to the Trust Agreement is in respect of Nelson Peltz; WHEREAS, Section 12(a) of the Trust Agreement provides that the Trust Agreement may be amended by a written instrument executed by the Trustee and the Company; and WHEREAS, the Trustee and the Company each desire to amend the Trust Agreement as set forth below. NOW, THEREFORE, the Trustee and the Company hereby agree that the Trust Agreement shall be amended, effective as of April 6, 2001, as follows: 1. The title of the Trust Agreement is hereby amended to read as follows: TRUST AGREEMENT FOR THE DEFERRAL PLAN FOR SENIOR EXECUTIVE OFFICERS OF TRIARC COMPANIES, INC. (PARTICIPANT NELSON PELTZ) 2. The third WHEREAS clause of the Trust Agreement is hereby amended to read as follows: WHEREAS, Company wishes to establish a trust, which shall be known as the "Triarc Companies, Inc. Deferral Plan Trust (Participant Nelson Peltz)" (the "Trust"), and to contribute to the Trust assets that shall be held therein, subject to the claims of Company's creditors in the event of Company's "Insolvency," as herein defined, until paid to the Participant or his beneficiary(ies), as the case may be, in such manner and at such times as specified in the Plan; EXECUTED as of the 6th day of April, 2001. TRIARC COMPANIES, INC. By: /s/ Brian L. Schorr --------------------------- Brian L. Schorr Executive Vice President WILMINGTON TRUST COMPANY By: /s/ Virginia E. Machamer -------------------------- Virginia E. Machamer Assistant Vice President