- 14 - Pizza Hut and PepsiCo (release). The release states, in perti- nent part: The undersigned, Wallace R. Noel, does hereby release and forever discharge Pizza Hut, Inc., PepsiCo, Inc., and all of their subsidiaries, divisions and related companies, and all of their employees, officers and agents, from any and all claims, actions, and causes of action, now existing or that may arise here- after, known and unknown, and including, in particular but without limitation, all claims that have been asserted or that could be asserted in that certain action pending in Sedgwick County District Court, Sedgwick County, Kansas, captioned: Wallace R. Noel, Larry D. Noel, Michael L. Noel and Cathy R. Noel vs. Pizza Hut, Inc., a corpora- tion, PepsiCo, Inc., a corporation, Pizza Manage- ment, Inc., a corporation, and Arturo G. Torres, Case No. 88 C 1652. The undersigned agrees that, as a part of this Release, the referenced action, as it relates to Pizza Hut, Inc. and PepsiCo, Inc., shall be dismissed, with prejudice, forthwith and agrees further that he shall take whatever action is necessary to bring about such a dismissal. * * * The release lacks any language concerning the amount of money petitioner received, if any, as consideration for signing this release. Further, the stock transfer agreement states: Upon delivery to me or my designee of (i) $3,250,071 in immediately available funds and (ii) your release of claims against me, I will transfer to Pizza Hut, Inc. (by delivery of the Shares and the Powers) good, valid and marketable title to all of the Shares * * *. The stock transfer agreement does not specify what portion of the proceeds, if any, was paid to petitioner for his release of claims. Since the documents presented by petitioner lack any language concerning what, if any, portion of PepsiCo's paymentPage: Previous 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Next
Last modified: May 25, 2011