AMENDED
AGREEMENT
This Agreement dated October 15, 1996 amends the previous agreement
dated January 4, 1994 and is between Pilgrim's Pride Corporation, a
Delaware Corporation (hereafter called "PPC") and Pilgrim Poultry, G.P.
(hereinafter called "PPGP") covering purchases of baby chicks, feed
medication, accounting and flock services from PPC at fair market value and
also covering PPGP sales of live broilers to PPC at fair market value.
The term of this agreement is from October 15, 1996 until December
31, 1997 and is automatically renewable for each subsequent one calendar
year period thereafter unless terminated by either party in writing. The
effective date of such termination notice will be 90 days from the date of
mailing of such notice.
Fair Market Value is agreed as follows initially, but may be revised
from time to time subject to agreement between the parties in order to more
accurately arrive at Fair Market Value;
BABY CHICKS PURCHASED FROM PPC
105% of PPC average year-to-date cost using latest figures
available at the time.
BROILER FEED PURCHASED FROM PPC
$15.00 per ton above PPC Pittsburg Mill ingredient cost delivered
to farm.
MEDICATION PURCHASED FROM PPC
10% markup over PPC cost.
ACCOUNTING SERVICE FURNISHED BY PPC
$200 per month for all record keeping and monthly financial
statements.
FLOCK SERVICE
Compensation included in Broiler Feed markup.
LIVE BROILERS SOLD TO PPC
To be sold to PPC at the quoted weekly Georgia dock dressed quote
less 14.50 cents processing, hauling and catching allowance times
73% yield allowance to equal live equivalent market times good
live pounds based on farm weight less DOA's and condemned.
PAYMENT TERMS
60 days of invoice date from both parties.
In testimony whereof, the parties of this agreement have hereto set
their hands in duplicate, the day and year above written.
PILGRIM'S PRIDE CORPORATION PILGRIM POULTRY, G.P.
\s\ Xxxxxxxx X. Xxxxxx \s\ Xxxxxx "Bo" Pilgrim
_____________________________ __________________________
Xxxxxxxx X. Xxxxxx Xxxxxx "Bo" Pilgrim
Chief Financial Officer Proprietor
STATE OF TEXAS
COUNTY OF CAMP
Before me, the undersigned authority, on this day personally
appeared Xxxxxxxx X. Xxxxxx, Chief Financial Officer, Pilgrim's Pride
Corporation and Xxxxxx "Bo" Pilgrim, Proprietor, Pilgrim Poultry, G.P.
known to me to be the persons whose names are subscribed to the
foregoing instrument, and acknowledged to me and executed the same
for the purpose and consideration therein expressed.
GIVEN UNDER MY HAND AND SEAL OF OFFICE
on this 15th day of October, 1996.
\s\ X. X. Nears, Jr.
__________________________
Notary Public Camp County, Texas
