UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant To Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 19, 2006
TRIARC COMPANIES, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 1-2207 38-0471180
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(State or Other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
280 Park Avenue
New York, NY 10017
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 451-3000
N/A
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item 1.02. Termination of a Material Definitive Agreement.
On September 19, 2006, in connection with its corporate restructuring, Triarc
Companies, Inc. (the "Company") entered into a Surrender and Release Agreement
(the "Termination Agreement") terminating the Lease Agreement (the "Lease")
previously entered into by the Company with respect to approximately 53,000
square feet of office space in Rye Brook, New York.
Under the terms of the Termination Agreement, in consideration for the lessor
agreeing to terminate the Lease effective September 19, 2006, the Company paid
the lessor a termination fee of approximately $4.4 million (the "Termination
Fee").
A copy of the Termination Agreement is attached as Exhibit 10.1 hereto and is
incorporated herein by reference. A copy of the Lease was filed as Exhibit 10.12
to the Company's Current Report on Form 8-K filed December 22, 2004.
Item 2.04. Triggering Events That Accelerate or Increase a Direct Financial
Obligation or an Obligation under an Off-Balance Sheet Arrangement.
On September 19, 2006, the Company entered into the Termination Agreement
pursuant to which the Lease was terminated in exchange for the payment of the
Termination Fee. In connection with the Termination Agreement, the Company
expects to record an additional $2.1 million pretax charge to facilities
relocation and corporate restructuring in its third quarter ending October 1,
2006.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits Description
10.1 Surrender and Release Agreement, dated as of September 19,
2006, by and between 760-24 Westchester Avenue, LLC and 800-60
Westchester Avenue, LLC, as Lessor, and Triarc Companies, Inc.
as Lessee.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TRIARC COMPANIES, INC.
By: FRANCIS T. MCCARRON
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Francis T. McCarron
Executive Vice President and
Chief Financial Officer
Dated: September 20, 2006
EXHIBIT INDEX
Exhibit Description
10.1 Surrender and Release Agreement, dated as of September 19, 2006, by
and between 760-24 Westchester Avenue, LLC and 800-60 Westchester
Avenue, LLC, as Lessor, and Triarc Companies, Inc. as Lessee.