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<TITLE> Form S-8 filed on May 3, 2002 </TITLE>
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<H1 ALIGN=CENTER><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>As filed with the Securities and Exchange Commission on May 3, 2002</FONT></H1>

<H1 ALIGN=RIGHT><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2>Registration No. 333-______</FONT></H1>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>SECURITIES AND EXCHANGE COMMISSION</FONT><br>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>450 FIFTH STREET, N.W.</FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>Washington, D.C. 20549</FONT></H1>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>FORM S-8</FONT></H1>

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>REGISTRATION STATEMENT</FONT><br>

<FONT FACE="Times New Roman, Times, Serif" SIZE=2>UNDER<br>

                                        THE SECURITIES ACT OF 1933</FONT></H1>

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<p ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4><b>PepsiCo, Inc.</b></FONT><br>

<FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE=2><I>(Exact Name of Registrant as Specified in its Charter)</I></FONT></P>
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                      <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>NORTH CAROLINA</font></th>
                      <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>13-1584302</font></th>
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               <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(State or Other Jurisdiction</font></th>
               <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(I.R.S. Employer Identification No.)</font></th>
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               <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>of Incorporation or Organization)</font></th>
               <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></th>

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<p ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>700 Anderson Hill Road<br>
                                                       Purchase, New York 10577<br>
                                     <I>(Address of Principal Executive Offices, including zip code)</I></Font></p>
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<p ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4><B>The PepsiCo Share Award Plan</b></font><br>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>(Full Title of the Plan)</I></font></p>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Thomas H. Tamoney, Jr.<br>
                                Vice President and Associate General Counsel<br></FONT></H1>

<p ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PepsiCo, Inc.<br>
                                                        700 Anderson Hill Road<br>
                                                       Purchase, New York 10577<br>
                                                            (914) 253-3623<br>
                            <i>(Name, Address and Telephone Number, including area code, of Agent for Service)</i></font></p>



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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CALCULATION OF REGISTRATION FEE</FONT></H1>
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        <tr>
                <th>&nbsp;</th>
                <th>&nbsp;</th>
                <th>&nbsp;</th>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Proposed</font></th>
                <th>&nbsp;</th>

        </tr>

        <tr>
                <th>&nbsp;</th>
                <th>&nbsp;</th>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Proposed Maximum</font></th>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Maximum</font></th>
                <th>&nbsp;</th>
        </tr>
        <tr>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Title of Securities</font></th>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amount to be</font></th>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Offering Price</font></th>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Aggregate Offering</font></th>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amount of</font></th>
        </tr>

        <tr>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>to be Registered</font><hr size=2 noshade></th>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registered (1)</font><hr size=2 noshade></th>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Per Share (2)</font><hr size=2 noshade></th>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Price (2)</font><hr size=2 noshade></th>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registration Fee</font><hr size=2 noshade></th>
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                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Common Stock,</font></th>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>150,000 Shares</font></th>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$52.23</font></th>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$7,834,500</font></th>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$720.77</font></th>
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                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Par value 1 2/3 cents</font></th>
                <th>&nbsp;</th>
                <th>&nbsp;</th>
                <th>&nbsp;</th>
                <th>&nbsp;</th>
        </tr>
        <tr>
                <th><FONT FACE="Times New Roman, Times, Serif" SIZE=2>per share</font></th>
                <th>&nbsp;</th>
                <th>&nbsp;</th>
                <th>&nbsp;</th>
                <th>&nbsp;</th>

        </tr>

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<p align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1)
In addition, pursuant to Rule 416 under the Securities Act of 1933, this
Registration Statement also covers an indeterminable number of shares
that may be offered and issued pursuant to stock splits, stock dividends or
similar transactions.</FONT><br>

<FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2)
Estimated in accordance with Rule 457(h) of the Securities Act of 1933, as
amended, solely for the purpose of determining the registration fee.</FONT><br>




                   <h1 align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=3>PART I</FONT></h1>

                  <h1 align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=3>INFORMATION REQUIRED IN THE SECTION 10(a)<br>
                                                              PROSPECTUS</FONT></h1>

<p><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ITEM 1.  Plan Information.*</font></p>

<p><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ITEM 2.  Registrant Information and Employee Plan's Annual Information.*</font></p>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*Information required by
Part I to be contained in the Section 10(a) prospectus is omitted from this
Registration Statement in accordance with Rule 428 under the Securities Act of
1933, as amended (the &#147;Securities Act&#148;), and the Note to Part I of
Form S-8. </FONT></P>

<h1 align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=3>PART II</FONT></h1>

<h1 align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=3>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</FONT></h1>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ITEM 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Incorporation of Documents by Reference</u></font></p>


<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PepsiCo, Inc. (the "Registrant") and The PepsiCo Share Award Plan (the "Plan") hereby incorporate by
reference in this Registration Statement the following documents previously filed with the Securities and Exchange Commission (the
"SEC"):</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)
the Registrant's  Annual Report on Form 10-K filed pursuant to Section 13 of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), for its fiscal year ended December 29, 2001,</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)
the Registrant's Quarterly Report on Form 10-Q filed for the quarter ended March 23, 2002,</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)
Registrant's  Current Reports on Form 8-K filed with the SEC on February 6, 2002, February 11, 2002,
February 12, 2002 and April 23, 2002, and</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)
the description of the  Registrant's  Common Stock,  par value 1-2/3 cents per share,  contained in the  Registrant's
Registration  Statement on Form 8-A,  pursuant to Section  12(b) of the  Exchange  Act, and all  amendments  and reports  filed for the
purpose of updating such description.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
documents  subsequently  filed by the Registrant  with the SEC under Sections  13(a),  13(c), 14 and 15(d) of the Exchange
Act, prior to the filing of a  post-effective  amendment to this  Registration  Statement which  indicates that all securities  offered
have been sold or which  deregisters  all securities  then remaining  unsold,  shall be deemed to be  incorporated by reference in this
Registration  Statement and to be a part hereof from the date of filing of such  documents.  Any  statement in a document  incorporated
or deemed to be  incorporated  by reference  herein shall be deemed to be modified or superseded for the purposes of this  Registration
Statement to the extent that a statement  contained  herein or in any other  subsequently  filed document which also is or deemed to be
incorporated by reference  herein modifies or supersedes such statement.  Any statement so modified or superseded  shall not be deemed,
except as so modified or  superseded,  to constitute a part of this  Registration  Statement.  Any of the foregoing  documents  will be
furnished to participants in the Plan without charge, upon written or oral request.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ITEM 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Description of Securities</u></font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</font>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ITEM 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Interests of Named Experts and Counsel</u></font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The legality of the shares of Common Stock issuable under the Plan has been passed upon for the Registrant by Thomas H. Tamoney, Jr., Esq., Vice President and Associate General Counsel of the Registrant.  Mr. Tamoney holds options to
purchase shares of the Registrant's Common Stock.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ITEM 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification of Directors and Officers</u></font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Sections 55-8-50 through 55-8-58 of the North Carolina Business Corporation Act provide as follows:</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;"Section. 55-8-50.  Policy statement and definitions.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) It is the public  policy of this  State to enable  corporations  organized  under  this  Chapter  to attract  and
maintain responsible,  qualified directors,  officers,  employees and agents, and, to that end, to permit corporations  organized under
this Chapter to allocate the risk of personal  liability of directors,  officers,  employees  and agents  through  indemnification  and
insurance as authorized in this Part.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Definitions in this Part:</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) 'Corporation'  includes any domestic or foreign corporation  absorbed in a merger which, if its separate
existence had continued,
would have had the obligation or power to indemnify its directors, officers,
employees, or agents, so that a person who would have been entitled to receive
or request indemnification from such corporation if its separate existence had
continued shall stand in the same position under this Part with respect to the
surviving corporation. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) 'Director'  means an individual who is or was a director of a corporation or an individual  who, while a
director of a corporation,
is or was serving at the corporation&#146;s request as a director, officer,
partner, trustee, employee, or agent of another foreign or domestic corporation,
partnership, joint venture, trust, employee benefit plan, or other enterprise. A
director is considered to be serving an employee benefit plan at the
corporation&#146;s request if his duties to the corporation also impose duties
on, or otherwise involve services by, him to the plan or to participants in or
beneficiaries of the plan. &#145;Director&#146; includes, unless the context
requires otherwise, the estate or personal representative of a director. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) 'Expenses' means expenses of every kind incurred in defending a proceeding, including counsel fees.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) 'Liability' means the obligation to pay a judgment,  settlement,  penalty, fine (including an excise tax
assessed with respect to an
employee benefit plan), or reasonable expenses incurred with respect to a
proceeding. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4a)  'Officer',  'employee'  or 'agent'  includes,  unless the context  requires  otherwise,  the estate or
personal representative of a person who acted in that capacity.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)  'Official  capacity'  means:  (i) when used with  respect to a  director,  the office of  director in a
corporation; and (ii) when
used with respect to an individual other than a director, as contemplated in
G.S. 55-8-56, the office in a corporation held by the officer or the employment
or agency relationship undertaken by the employee or agent on behalf of the
corporation. &#145;Official capacity&#146; does not include service for any
other foreign or domestic corporation or any partnership, joint venture, trust,
employee benefit plan, or other enterprise. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) 'Party'  includes an individual who was, is, or is threatened to be made a named defendant or respondent
in a proceeding.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) 'Proceeding' means any threatened,  pending,  or completed action,  suit, or proceeding,  whether civil,
criminal, administrative, or investigative and whether formal or informal.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 55-8-51. Authority to indemnify.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as provided in  subsection  (d), a corporation  may  indemnify an individual  made a party to a proceeding
because he is or was a director against liability incurred in the proceeding if:</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) He conducted himself in good faith; and</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) He reasonably  believed (i) in the case of conduct in his official  capacity with the corporation,  that
his conduct was in its best  interests;  and (ii) in all other cases,  that his conduct was at least not opposed to its best interests;
and</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) In the case of any criminal proceeding, he had no reasonable cause to believe his conduct was unlawful.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A director's  conduct with respect to an employee benefit plan for a purpose he reasonably  believed to be in the
interests of the participants in and beneficiaries of the plan is conduct that satisfies the requirement of subsection (a)(2)(ii).</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The termination of a proceeding by judgment,  order, settlement,  conviction, or upon a plea of no contest or its
equivalent is not, of itself, determinative that the director did not meet the standard of conduct described in this section.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) A corporation may not indemnify a director under this section:</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) In  connection  with a  proceeding  by or in the  right of the  corporation  in which the  director  was
adjudged liable to the corporation; or</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) In connection  with any other  proceeding  charging  improper  personal  benefit to him,  whether or not
involving action in his
official capacity, in which he was adjudged liable on the basis that personal
benefit was improperly received by him. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)  Indemnification  permitted  under  this  section  in  connection  with a  proceeding  by or in the  right of the
corporation  that is concluded  without a final  adjudication on the issue of liability is limited to reasonable  expenses  incurred in
connection with the proceeding.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The  authorization,  approval  or  favorable  recommendation  by the  board  of  directors  of a  corporation  of
indemnification,  as permitted by this section,  shall not be deemed an act or corporate transaction in which a director has a conflict
of interest, and no such indemnification shall be void or voidable on such ground.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 55-8-52. Mandatory indemnification.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless limited by its articles of incorporation,  a corporation shall indemnify a director who was wholly successful,
on the  merits  or  otherwise,  in the  defense  of any  proceeding  to which he was a party  because  he is or was a  director  of the
corporation against reasonable expenses incurred by him in connection with the proceeding.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 55-8-53. Advance for expenses.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expenses  incurred by a director in defending a  proceeding  may be paid by the  corporation  in advance of the final
disposition  of such  proceeding as  authorized  by the board of directors in the specific case or as authorized or required  under any
provision in the articles of incorporation  or bylaws or by any applicable  resolution or contract upon receipt of an undertaking by or
on behalf of the director to repay such amount unless it shall  ultimately be determined  that he is entitled to be  indemnified by the
corporation against such expenses.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 55-8-54. Court-ordered indemnification.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless a corporation's  articles of incorporation provide otherwise,  a director of the corporation who is a party to
a proceeding may apply for  indemnification  to the court conducting the proceeding or to another court of competent  jurisdiction.  On
receipt of an application, the court after giving any notice the court considers necessary may order indemnification if it determines:</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The director is entitled to mandatory  indemnification under G.S. 55-8-52, in which case the court shall
also order the corporation to pay the director's reasonable expenses incurred to obtain court-ordered indemnification; or</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The  director  is  fairly  and  reasonably  entitled  to  indemnification  in  view of all the  relevant
circumstances,  whether or not he met the  standard of conduct set forth in G.S.  55-8-51 or was  adjudged  liable as described in G.S.
55-8-51(d), but if he was adjudged so liable his indemnification is limited to reasonable expenses incurred.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 55-8-55. Determination and authorization of indemnification.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A corporation  may not indemnify a director  under G.S.  55-8-51  unless  authorized in the specific case after a
determination has been made that  indemnification  of the director is permissible in the circumstances  because he has met the standard
of conduct set forth in G.S. 55-8-51.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The determination shall be made:</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) By the board of directors by majority  vote of a quorum  consisting of directors not at the time parties
to the proceeding;</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) If a quorum cannot be obtained under  subdivision  (1), by majority vote of a committee duly  designated
by the board of directors
(in which designation directors who are parties may participate), consisting
solely of two or more directors not at the time parties to the proceeding; </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) By  special  legal  counsel  (i)  selected  by the board of  directors  or its  committee  in the manner
prescribed in subdivision
(1) or (2); or (ii) if a quorum of the board of directors cannot be obtained
under subdivision (1) and a committee cannot be designated under subdivision
(2), selected by majority vote of the full board of directors (in which
selection directors who are parties may participate); or </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) By the  shareholders,  but shares owned by or voted under the control of  directors  who are at the time
parties to the proceeding may not be voted on the determination.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)  Authorization  of  indemnification  and  evaluation as to  reasonableness  of expenses shall be made in the same
manner as the determination  that  indemnification  is permissible,  except that if the determination is made by special legal counsel,
authorization  of  indemnification  and evaluation as to  reasonableness  of expenses shall be made by those entitled under  subsection
(b)(3) to select counsel.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 55-8-56. Indemnification of officers, employees, and agents.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless a corporation's articles of incorporation provide otherwise:</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) An officer of the  corporation  is entitled to  mandatory  indemnification  under G.S.  55-8-52,  and is
entitled to apply for court-ordered indemnification under G.S. 55-8-54, in each case to the same extent as a director;</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The corporation may indemnify and advance expenses under this Part to an officer,  employee, or agent of
the corporation to the same extent as to a director; and</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) A corporation  may also indemnify and advance  expenses to an officer,  employee,  or agent who is not a
director to the extent,
consistent with public policy, that may be provided by its articles of
incorporation, bylaws, general or specific action of its board of directors, or
contract. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 55-8-57. Additional indemnification and insurance.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In addition to and separate and apart from the indemnification  provided for in G.S. 55-8-51,  55-8-52,  55-8-54,
55-8-55 and 55-8-56,  a corporation may in its articles of incorporation  or bylaws or by contract or resolution  indemnify or agree to
indemnify  any one or more of its  directors,  officers,  employees,  or  agents  against  liability  and  expenses  in any  proceeding
(including without  limitation a proceeding  brought by or on behalf of the corporation  itself) arising out of their status as such or
their activities in any of the foregoing  capacities;  provided,  however, that a corporation may not indemnify or agree to indemnify a
person against  liability or expenses he may incur on account of his  activities  which were at the time taken known or believed by him
to be clearly in conflict with the best interests of the  corporation.  A corporation may likewise and to the same extent  indemnify or
agree to indemnify  any person who, at the request of the  corporation,  is or was serving as a director,  officer,  partner,  trustee,
employee, or agent of another foreign or domestic corporation,  partnership,  joint venture,  trust or other enterprise or as a trustee
or  administrator  under an employee  benefit plan.  Any provision in any articles of  incorporation,  bylaw,  contract,  or resolution
permitted under this section may include  provisions for recovery from the corporation of reasonable  costs,  expenses,  and attorneys'
fees in connection with the enforcement of rights to indemnification  granted therein and may further include  provisions  establishing
reasonable procedures for determining and enforcing the rights granted therein.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The  authorization,  adoption,  approval,  or  favorable  recommendation  by the board of  directors  of a public
corporation of any provision in any articles of incorporation,  bylaw, contract or resolution,  as permitted in this section, shall not
be deemed an act or corporate  transaction  in which a director has a conflict of interest,  and no such articles of  incorporation  or
bylaw  provision or contract or  resolution  shall be void or voidable on such  grounds.  The  authorization,  adoption,  approval,  or
favorable  recommendation  by the board of  directors of a nonpublic  corporation  of any  provision in any articles of  incorporation,
bylaw,  contract or  resolution,  as permitted in this section,  which  occurred  prior to July 1, 1990,  shall not be deemed an act or
corporate  transaction  in which a director  has a conflict of  interest,  and no such  articles  of  incorporation,  bylaw  provision,
contract or resolution shall be void or voidable on such grounds.  Except as permitted in G.S.  55-8-31,  no such bylaw,  contract,  or
resolution not adopted,  authorized,  approved or ratified by shareholders shall be effective as to claims made or liabilities asserted
against any director prior to its adoption, authorization, or approval by the board of directors.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A corporation may purchase and maintain  insurance on behalf of an individual who is or was a director,  officer,
employee, or agent of the corporation,  or who, while a director,  officer, employee, or agent of the corporation, is or was serving at
the  request  of the  corporation  as a  director,  officer,  partner,  trustee,  employee,  or agent of another  foreign  or  domestic
corporation,  partnership,  joint venture,  trust,  employee benefit plan, or other enterprise,  against liability  asserted against or
incurred  by him in that  capacity  or  arising  from his  status  as a  director,  officer,  employee,  or agent,  whether  or not the
corporation would have power to indemnify him against the same liability under any provision of this Chapter.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 55-8-58. Application of Part.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If articles of  incorporation  limit  indemnification  or advance for expenses,  indemnification  and advance for
expenses are valid only to the extent consistent with the articles.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Part does not limit a corporation's  power to pay or reimburse expenses incurred by a director in connection
with his  appearance  as a  witness  in a  proceeding  at a time  when he has not been  made a named  defendant  or  respondent  to the
proceeding.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) This Part shall not affect rights or liabilities arising out of acts or omissions occurring before July 1, 1990."</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)  Section  3.7 of  Article  III of the  By-Laws of PepsiCo, Inc.  provides  as  follows:  Unless the Board of  Directors  shall
determine  otherwise,  the  Corporation  shall  indemnify,  to the full extent  permitted  by law,  any person who was or is, or who is
threatened to be made, a party to an action, suit or proceeding,  whether civil, criminal,  administrative or investigative,  by reason
of the fact that he, his testator or intestate, is or was a director,  officer or employee of the Corporation,  or is or was serving at
the request of the  Corporation  as a director,  officer or employee of another  enterprise,  against  expenses  (including  attorneys'
fees),  judgments,  fines and amounts paid in settlement  actually and reasonably  incurred by him in connection with such action, suit
or proceeding.  Such  indemnification  may, in the discretion of the Board,  include advances of a director's,  officer's or employee's
expenses prior to final  disposition  of such action,  suit or proceeding.  The right of  indemnification  provided for in this Section
3.7 shall not exclude any rights to which such persons may otherwise be entitled by contract or as a matter of law.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Officers and directors of PepsiCo, Inc. are presently  covered by insurance which (with certain  exceptions and within certain
limitations)  indemnifies  them against any losses arising from any alleged wrongful act including any alleged error or misstatement or
misleading statement or wrongful act or omission or neglect of duty.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) PepsiCo, Inc. has entered into  indemnification  agreements with its directors whereby (with certain  exceptions) PepsiCo, Inc. will,
in general,  indemnify  directors,  to the extent  permitted by law, against  liabilities,  costs or expenses arising out of his or her
status as a director by reason of anything done or not done as a director.</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ITEM 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Exemption from Registration Claimed</u></font></p>

<p><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.</font></p>



<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ITEM 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Exhibits</u></font></p>

<table width=100% border=0>
        <tr>

                <th align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u><b>Exhibit No.</b></u></font></th>
                <th align=left width=80%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u><b>Description</b></u></font></th>

        </tr>

        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>

        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.1</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amended and Restated Articles of Incorporation of PepsiCo, Inc., which are incorporated</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>herein by reference to Exhibit 4.1 to PepsiCo, Inc.'s Registration Statement on Form S-8</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Registration No. 333-66632).</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.2</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By-laws of PepsiCo, Inc., as amended on August 2, 2001, which are incorporated herein by</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>reference to Exhibit 4.2 to PepsiCo, Inc.'s Registration Statement on Form S-8</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Registration No. 333-66632).</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.3</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The PepsiCo Share Award Plan.</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>

         <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Opinion and consent of Thomas H. Tamoney, Jr., Esq., Vice President and Associate General</font></td>

        </tr>


        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Counsel of the Registrant, relating to the legality of securities being registered.</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>15</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Letter re: Unaudited Interim Financial Information.</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.1</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent of KPMG LLP.</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.2</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent of Thomas H. Tamoney, Jr., Esq., Vice President and Associate General Counsel of the</font></td>

        </tr>
         <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2></font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registrant (included in his opinion filed as Exhibit 5 hereto).</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>

         <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>24</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Power of  Attorney  executed by Steven S Reinemund, Indra K. Nooyi, Peter A.  Bridgman, </font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>John F. Akers, Robert E. Allen, David R. Andrews, Roger A. Enrico, Peter Foy, Ray L. Hunt,</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Arthur C. Martinez, Robert S. Morrison, Franklin D. Raines, Sharon Percy Rockefeller,</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Franklin A. Thomas, Cynthia M. Trudell, Solomon D. Trujillo and Daniel Vasella.</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2></font></td>

        </tr>

</table>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ITEM 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Undertakings</u></font></p>


<p><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes:</font></p>

<p><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)      to file, during any period in which offers or sales are being made, a post-effective amendment to this Registration
Statement:</font></p>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
to include any prospectus required by Section 10(a)(3) of the Securities Act;</FONT>
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)
to reflect in the prospectus any facts or events arising after the effective
date of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change
in the information set forth in the registration statement. Notwithstanding the
foregoing, any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated maximum
offering range may be reflected in the form of prospectus filed with the SEC
pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price
represent no more than a 20% change in the maximum aggregate offering price set
forth in the &#147;Calculation of Registration Fee&#148; table in the effective
registration statement; and </FONT>
</TD>
</TR>
</TABLE>
<BR>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)
to include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to
such information in the registration statement; </FONT>
</TD>
</TR>
</TABLE>
<BR>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>provided, however, that
paragraphs (1)(a) and (1)(b) do not apply if the information required to be
included in a post-effective amendment by those paragraphs is contained in
periodic reports filed by the Registrant pursuant to Section 13 or Section 15(d)
of the Exchange Act that are incorporated by reference in this Registration
Statement. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)
That, for the purpose of determining any liability under the Securities Act,
each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)
To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the
offering. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned Registrant hereby undertakes that, for the purposes of determining
any liability under the Securities Act, each filing of the Registrant&#146;s
annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act
(and, where applicable, each filing of an employee benefit plan&#146;s annual
report pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in this Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar
as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the Registrant
pursuant to the foregoing provisions, or otherwise, the Registrant has been
advised that in the opinion of the SEC such indemnification is against public
policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than
the payment by the Registrant of expenses incurred or paid by a director,
officer or controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Registrant will,
unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue. </FONT></P>


                                                              <p align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>SIGNATURES</b></font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>The
Registrant</I>. Pursuant to the requirements of the Securities Act, the
Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Purchase, State of New York, on May 2, 2002. </FONT></P>

                       <table><tr><td width=60%>&nbsp;</td>
                              <td width=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PepsiCo, Inc.<br><br>

                                                        By:  <u>/s/ Thomas H. Tamoney, Jr.</u><br>
                                                        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:  Thomas H. Tamoney, Jr.<br>
                                                        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Vice President and<br>
                                                        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Associate General Counsel</font></td></tr></table><BR>



<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement
has been signed by the following persons in the capacities and on the dates
indicated as of May 2, 2002. </FONT></P>

<table width=100% border=0>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Principal Executive Officer:</font></td>
                <td align=left width=80><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>

        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Steven S Reinemund*</font></td>
                <td align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Chairman of the Board</font></td>

        </tr>

        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>and Chief Executive Officer</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Principal Financial Officer:</font></td>
                <td align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>

        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Indra K. Nooyi*</font></td>
                <td align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>President,</font></td>

        </tr>
         <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Chief Financial Officer and</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director</font></td>

        </tr>

        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Principal Accounting Officer:</font></td>
                <td align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>

        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Peter A. Bridgman*</font></td>
                <td align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Senior Vice President</font></td>

        </tr>

        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>and Controller</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
        </tr>
</table>
<table width=100% border=0>

         <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Directors:</font></td>
                <td align=left width=80%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>
        <tr>

                <td align=left width=30%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>John F. Akers</font></td>
                <td align=left width=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>)</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Robert E. Allen</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>)</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Roger A. Enrico</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>)</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Peter Foy</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>)</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Ray L. Hunt</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>)</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Arthur C. Martinez</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>)</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Robert S. Morrison</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>)*</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Franklin D. Raines</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>)</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Sharon Percy Rockefeller</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>)</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Franklin A. Thomas</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>)</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Cynthia M. Trudell</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>)</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Solomon D. Trujillo</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>)</font></td>

        </tr>
         <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Daniel Vasella</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>)</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>

</table>

<table><tr>
<td><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*  By:   <u>/s/ Thomas H. Tamoney, Jr.</u><br>
         &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thomas H. Tamoney, Jr.<br>
         &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Attorney-in-Fact</font></td></tr></table>





                                                            <p align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b> EXHIBIT INDEX</b></font></p>


<table width=100% border=0>
<tr>

                <th align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u><b>Exhibit No.</b></u></font></th>
                <th align=left width=80%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u><b>Description</b></u></font></th>

        </tr>

        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>

        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.1</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amended and Restated Articles of Incorporation of PepsiCo, Inc., which are incorporated</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>herein by reference to Exhibit 4.1 to PepsiCo, Inc.'s Registration Statement on Form S-8</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Registration No. 333-66632).</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.2</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By-laws of PepsiCo, Inc., as amended on August 2, 2001, which are incorporated herein by</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>reference to Exhibit 4.2 to PepsiCo, Inc.'s Registration Statement on Form S-8</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Registration No. 333-66632).</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>

        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.3</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The PepsiCo Share Award Plan.</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>

         <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Opinion and consent of Thomas H. Tamoney, Jr., Esq., Vice President and Associate General</font></td>

        </tr>


        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Counsel of the Registrant, relating to the legality of securities being registered.</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>15</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Letter re: Unaudited Interim Financial Information.</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.1</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent of KPMG LLP.</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.2</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consent of Thomas H. Tamoney, Jr., Esq., Vice President and Associate General Counsel of the</font></td>

        </tr>
         <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2></font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registrant (included in his opinion filed as Exhibit 5 hereto).</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>

        </tr>

         <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>24</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Power of  Attorney  executed by Steven S Reinemund, Indra K. Nooyi, Peter A.  Bridgman, </font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>John F. Akers, Robert E. Allen, David R. Andrews, Roger A. Enrico, Peter Foy, Ray L. Hunt,</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Arthur C. Martinez, Robert S. Morrison, Franklin D. Raines, Sharon Percy Rockefeller,</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Franklin A. Thomas, Cynthia M. Trudell, Solomon D. Trujillo and Daniel Vasella.</font></td>

        </tr>
        <tr>

                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</font></td>
                <td align=left><FONT FACE="Times New Roman, Times, Serif" SIZE=2></font></td>

        </tr>

</table>

</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "s8.htm", "secsgml_size_bytes": 67965}]
{"company-data": {"conformed-name": "PEPSICO INC", "cik": "0000077476", "assigned-sic": "2080", "irs-number": "131584302", "state-of-incorporation": "NC", "fiscal-year-end": "1228"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-87526", "film-number": "02633463"}, "business-address": {"street1": "700 ANDERSON HILL RD", "city": "PURCHASE", "state": "NY", "zip": "10577", "phone": "9142532000"}, "mail-address": {"street1": "700 ANDERSON HILL ROAD", "city": "PURCHASE", "state": "NY", "zip": "10577-1444"}, "former-company": {"former-conformed-name": "PEPSI COLA CO", "date-changed": "19700903"}}
Form S-8 filed on May 3, 2002
As filed with the Securities and Exchange Commission on May 3, 2002
Registration No. 333-______
SECURITIES AND EXCHANGE COMMISSION
450 FIFTH STREET, N.W.
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
PepsiCo, Inc.
(Exact Name of Registrant as Specified in its Charter)
NORTH CAROLINA
13-1584302
(State or Other Jurisdiction
(I.R.S. Employer Identification No.)
of Incorporation or Organization)
700 Anderson Hill Road
Purchase, New York 10577
(Address of Principal Executive Offices, including zip code)
The PepsiCo Share Award Plan
(Full Title of the Plan)
Thomas H. Tamoney, Jr.
Vice President and Associate General Counsel
PepsiCo, Inc.
700 Anderson Hill Road
Purchase, New York 10577
(914) 253-3623
(Name, Address and Telephone Number, including area code, of Agent for Service)
CALCULATION OF REGISTRATION FEE
Proposed
Proposed Maximum
Maximum
Title of Securities
Amount to be
Offering Price
Aggregate Offering
Amount of
to be Registered
Registered (1)
Per Share (2)
Price (2)
Registration Fee
Common Stock,
150,000 Shares
$52.23
$7,834,500
$720.77
Par value 1 2/3 cents
per share
(1)
In addition, pursuant to Rule 416 under the Securities Act of 1933, this
Registration Statement also covers an indeterminable number of shares
that may be offered and issued pursuant to stock splits, stock dividends or
similar transactions.
(2)
Estimated in accordance with Rule 457(h) of the Securities Act of 1933, as
amended, solely for the purpose of determining the registration fee.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a)
PROSPECTUS
ITEM 1.  Plan Information.*
ITEM 2.  Registrant Information and Employee Plan's Annual Information.*
*Information required by
Part I to be contained in the Section 10(a) prospectus is omitted from this
Registration Statement in accordance with Rule 428 under the Securities Act of
1933, as amended (the "Securities Act"), and the Note to Part I of
Form S-8.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3.
Incorporation of Documents by Reference
PepsiCo, Inc. (the "Registrant") and The PepsiCo Share Award Plan (the "Plan") hereby incorporate by
reference in this Registration Statement the following documents previously filed with the Securities and Exchange Commission (the
"SEC"):
(1)
the Registrant's  Annual Report on Form 10-K filed pursuant to Section 13 of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), for its fiscal year ended December 29, 2001,
(2)
the Registrant's Quarterly Report on Form 10-Q filed for the quarter ended March 23, 2002,
(3)
Registrant's  Current Reports on Form 8-K filed with the SEC on February 6, 2002, February 11, 2002,
February 12, 2002 and April 23, 2002, and
(4)
the description of the  Registrant's  Common Stock,  par value 1-2/3 cents per share,  contained in the  Registrant's
Registration  Statement on Form 8-A,  pursuant to Section  12(b) of the  Exchange  Act, and all  amendments  and reports  filed for the
purpose of updating such description.
All
documents  subsequently  filed by the Registrant  with the SEC under Sections  13(a),  13(c), 14 and 15(d) of the Exchange
Act, prior to the filing of a  post-effective  amendment to this  Registration  Statement which  indicates that all securities  offered
have been sold or which  deregisters  all securities  then remaining  unsold,  shall be deemed to be  incorporated by reference in this
Registration  Statement and to be a part hereof from the date of filing of such  documents.  Any  statement in a document  incorporated
or deemed to be  incorporated  by reference  herein shall be deemed to be modified or superseded for the purposes of this  Registration
Statement to the extent that a statement  contained  herein or in any other  subsequently  filed document which also is or deemed to be
incorporated by reference  herein modifies or supersedes such statement.  Any statement so modified or superseded  shall not be deemed,
except as so modified or  superseded,  to constitute a part of this  Registration  Statement.  Any of the foregoing  documents  will be
furnished to participants in the Plan without charge, upon written or oral request.
ITEM 4.
Description of Securities
Not applicable.
ITEM 5.
Interests of Named Experts and Counsel
The legality of the shares of Common Stock issuable under the Plan has been passed upon for the Registrant by Thomas H. Tamoney, Jr., Esq., Vice President and Associate General Counsel of the Registrant.  Mr. Tamoney holds options to
purchase shares of the Registrant's Common Stock.
ITEM 6.
Indemnification of Directors and Officers
(i) Sections 55-8-50 through 55-8-58 of the North Carolina Business Corporation Act provide as follows:
"Section. 55-8-50.  Policy statement and definitions.
(a) It is the public  policy of this  State to enable  corporations  organized  under  this  Chapter  to attract  and
maintain responsible,  qualified directors,  officers,  employees and agents, and, to that end, to permit corporations  organized under
this Chapter to allocate the risk of personal  liability of directors,  officers,  employees  and agents  through  indemnification  and
insurance as authorized in this Part.
(b) Definitions in this Part:
(1) 'Corporation'  includes any domestic or foreign corporation  absorbed in a merger which, if its separate
existence had continued,
would have had the obligation or power to indemnify its directors, officers,
employees, or agents, so that a person who would have been entitled to receive
or request indemnification from such corporation if its separate existence had
continued shall stand in the same position under this Part with respect to the
surviving corporation.
(2) 'Director'  means an individual who is or was a director of a corporation or an individual  who, while a
director of a corporation,
is or was serving at the corporation's request as a director, officer,
partner, trustee, employee, or agent of another foreign or domestic corporation,
partnership, joint venture, trust, employee benefit plan, or other enterprise. A
director is considered to be serving an employee benefit plan at the
corporation's request if his duties to the corporation also impose duties
on, or otherwise involve services by, him to the plan or to participants in or
beneficiaries of the plan. 'Director' includes, unless the context
requires otherwise, the estate or personal representative of a director.
(3) 'Expenses' means expenses of every kind incurred in defending a proceeding, including counsel fees.
(4) 'Liability' means the obligation to pay a judgment,  settlement,  penalty, fine (including an excise tax
assessed with respect to an
employee benefit plan), or reasonable expenses incurred with respect to a
proceeding.
(4a)  'Officer',  'employee'  or 'agent'  includes,  unless the context  requires  otherwise,  the estate or
personal representative of a person who acted in that capacity.
(5)  'Official  capacity'  means:  (i) when used with  respect to a  director,  the office of  director in a
corporation; and (ii) when
used with respect to an individual other than a director, as contemplated in
G.S. 55-8-56, the office in a corporation held by the officer or the employment
or agency relationship undertaken by the employee or agent on behalf of the
corporation. 'Official capacity' does not include service for any
other foreign or domestic corporation or any partnership, joint venture, trust,
employee benefit plan, or other enterprise.
(6) 'Party'  includes an individual who was, is, or is threatened to be made a named defendant or respondent
in a proceeding.
(7) 'Proceeding' means any threatened,  pending,  or completed action,  suit, or proceeding,  whether civil,
criminal, administrative, or investigative and whether formal or informal.
Section 55-8-51. Authority to indemnify.
(a) Except as provided in  subsection  (d), a corporation  may  indemnify an individual  made a party to a proceeding
because he is or was a director against liability incurred in the proceeding if:
(1) He conducted himself in good faith; and
(2) He reasonably  believed (i) in the case of conduct in his official  capacity with the corporation,  that
his conduct was in its best  interests;  and (ii) in all other cases,  that his conduct was at least not opposed to its best interests;
and
(3) In the case of any criminal proceeding, he had no reasonable cause to believe his conduct was unlawful.
(b) A director's  conduct with respect to an employee benefit plan for a purpose he reasonably  believed to be in the
interests of the participants in and beneficiaries of the plan is conduct that satisfies the requirement of subsection (a)(2)(ii).
(c) The termination of a proceeding by judgment,  order, settlement,  conviction, or upon a plea of no contest or its
equivalent is not, of itself, determinative that the director did not meet the standard of conduct described in this section.
(d) A corporation may not indemnify a director under this section:
(1) In  connection  with a  proceeding  by or in the  right of the  corporation  in which the  director  was
adjudged liable to the corporation; or
(2) In connection  with any other  proceeding  charging  improper  personal  benefit to him,  whether or not
involving action in his
official capacity, in which he was adjudged liable on the basis that personal
benefit was improperly received by him.
(e)  Indemnification  permitted  under  this  section  in  connection  with a  proceeding  by or in the  right of the
corporation  that is concluded  without a final  adjudication on the issue of liability is limited to reasonable  expenses  incurred in
connection with the proceeding.
(f) The  authorization,  approval  or  favorable  recommendation  by the  board  of  directors  of a  corporation  of
indemnification,  as permitted by this section,  shall not be deemed an act or corporate transaction in which a director has a conflict
of interest, and no such indemnification shall be void or voidable on such ground.
Section 55-8-52. Mandatory indemnification.
Unless limited by its articles of incorporation,  a corporation shall indemnify a director who was wholly successful,
on the  merits  or  otherwise,  in the  defense  of any  proceeding  to which he was a party  because  he is or was a  director  of the
corporation against reasonable expenses incurred by him in connection with the proceeding.
Section 55-8-53. Advance for expenses.
Expenses  incurred by a director in defending a  proceeding  may be paid by the  corporation  in advance of the final
disposition  of such  proceeding as  authorized  by the board of directors in the specific case or as authorized or required  under any
provision in the articles of incorporation  or bylaws or by any applicable  resolution or contract upon receipt of an undertaking by or
on behalf of the director to repay such amount unless it shall  ultimately be determined  that he is entitled to be  indemnified by the
corporation against such expenses.
Section 55-8-54. Court-ordered indemnification.
Unless a corporation's  articles of incorporation provide otherwise,  a director of the corporation who is a party to
a proceeding may apply for  indemnification  to the court conducting the proceeding or to another court of competent  jurisdiction.  On
receipt of an application, the court after giving any notice the court considers necessary may order indemnification if it determines:
(1) The director is entitled to mandatory  indemnification under G.S. 55-8-52, in which case the court shall
also order the corporation to pay the director's reasonable expenses incurred to obtain court-ordered indemnification; or
(2) The  director  is  fairly  and  reasonably  entitled  to  indemnification  in  view of all the  relevant
circumstances,  whether or not he met the  standard of conduct set forth in G.S.  55-8-51 or was  adjudged  liable as described in G.S.
55-8-51(d), but if he was adjudged so liable his indemnification is limited to reasonable expenses incurred.
Section 55-8-55. Determination and authorization of indemnification.
(a) A corporation  may not indemnify a director  under G.S.  55-8-51  unless  authorized in the specific case after a
determination has been made that  indemnification  of the director is permissible in the circumstances  because he has met the standard
of conduct set forth in G.S. 55-8-51.
(b) The determination shall be made:
(1) By the board of directors by majority  vote of a quorum  consisting of directors not at the time parties
to the proceeding;
(2) If a quorum cannot be obtained under  subdivision  (1), by majority vote of a committee duly  designated
by the board of directors
(in which designation directors who are parties may participate), consisting
solely of two or more directors not at the time parties to the proceeding;
(3) By  special  legal  counsel  (i)  selected  by the board of  directors  or its  committee  in the manner
prescribed in subdivision
(1) or (2); or (ii) if a quorum of the board of directors cannot be obtained
under subdivision (1) and a committee cannot be designated under subdivision
(2), selected by majority vote of the full board of directors (in which
selection directors who are parties may participate); or
(4) By the  shareholders,  but shares owned by or voted under the control of  directors  who are at the time
parties to the proceeding may not be voted on the determination.
(c)  Authorization  of  indemnification  and  evaluation as to  reasonableness  of expenses shall be made in the same
manner as the determination  that  indemnification  is permissible,  except that if the determination is made by special legal counsel,
authorization  of  indemnification  and evaluation as to  reasonableness  of expenses shall be made by those entitled under  subsection
(b)(3) to select counsel.
Section 55-8-56. Indemnification of officers, employees, and agents.
Unless a corporation's articles of incorporation provide otherwise:
(1) An officer of the  corporation  is entitled to  mandatory  indemnification  under G.S.  55-8-52,  and is
entitled to apply for court-ordered indemnification under G.S. 55-8-54, in each case to the same extent as a director;
(2) The corporation may indemnify and advance expenses under this Part to an officer,  employee, or agent of
the corporation to the same extent as to a director; and
(3) A corporation  may also indemnify and advance  expenses to an officer,  employee,  or agent who is not a
director to the extent,
consistent with public policy, that may be provided by its articles of
incorporation, bylaws, general or specific action of its board of directors, or
contract.
Section 55-8-57. Additional indemnification and insurance.
(a) In addition to and separate and apart from the indemnification  provided for in G.S. 55-8-51,  55-8-52,  55-8-54,
55-8-55 and 55-8-56,  a corporation may in its articles of incorporation  or bylaws or by contract or resolution  indemnify or agree to
indemnify  any one or more of its  directors,  officers,  employees,  or  agents  against  liability  and  expenses  in any  proceeding
(including without  limitation a proceeding  brought by or on behalf of the corporation  itself) arising out of their status as such or
their activities in any of the foregoing  capacities;  provided,  however, that a corporation may not indemnify or agree to indemnify a
person against  liability or expenses he may incur on account of his  activities  which were at the time taken known or believed by him
to be clearly in conflict with the best interests of the  corporation.  A corporation may likewise and to the same extent  indemnify or
agree to indemnify  any person who, at the request of the  corporation,  is or was serving as a director,  officer,  partner,  trustee,
employee, or agent of another foreign or domestic corporation,  partnership,  joint venture,  trust or other enterprise or as a trustee
or  administrator  under an employee  benefit plan.  Any provision in any articles of  incorporation,  bylaw,  contract,  or resolution
permitted under this section may include  provisions for recovery from the corporation of reasonable  costs,  expenses,  and attorneys'
fees in connection with the enforcement of rights to indemnification  granted therein and may further include  provisions  establishing
reasonable procedures for determining and enforcing the rights granted therein.
(b) The  authorization,  adoption,  approval,  or  favorable  recommendation  by the board of  directors  of a public
corporation of any provision in any articles of incorporation,  bylaw, contract or resolution,  as permitted in this section, shall not
be deemed an act or corporate  transaction  in which a director has a conflict of interest,  and no such articles of  incorporation  or
bylaw  provision or contract or  resolution  shall be void or voidable on such  grounds.  The  authorization,  adoption,  approval,  or
favorable  recommendation  by the board of  directors of a nonpublic  corporation  of any  provision in any articles of  incorporation,
bylaw,  contract or  resolution,  as permitted in this section,  which  occurred  prior to July 1, 1990,  shall not be deemed an act or
corporate  transaction  in which a director  has a conflict of  interest,  and no such  articles  of  incorporation,  bylaw  provision,
contract or resolution shall be void or voidable on such grounds.  Except as permitted in G.S.  55-8-31,  no such bylaw,  contract,  or
resolution not adopted,  authorized,  approved or ratified by shareholders shall be effective as to claims made or liabilities asserted
against any director prior to its adoption, authorization, or approval by the board of directors.
(c) A corporation may purchase and maintain  insurance on behalf of an individual who is or was a director,  officer,
employee, or agent of the corporation,  or who, while a director,  officer, employee, or agent of the corporation, is or was serving at
the  request  of the  corporation  as a  director,  officer,  partner,  trustee,  employee,  or agent of another  foreign  or  domestic
corporation,  partnership,  joint venture,  trust,  employee benefit plan, or other enterprise,  against liability  asserted against or
incurred  by him in that  capacity  or  arising  from his  status  as a  director,  officer,  employee,  or agent,  whether  or not the
corporation would have power to indemnify him against the same liability under any provision of this Chapter.
Section 55-8-58. Application of Part.
(a) If articles of  incorporation  limit  indemnification  or advance for expenses,  indemnification  and advance for
expenses are valid only to the extent consistent with the articles.
(b) This Part does not limit a corporation's  power to pay or reimburse expenses incurred by a director in connection
with his  appearance  as a  witness  in a  proceeding  at a time  when he has not been  made a named  defendant  or  respondent  to the
proceeding.
(c) This Part shall not affect rights or liabilities arising out of acts or omissions occurring before July 1, 1990."
(ii)  Section  3.7 of  Article  III of the  By-Laws of PepsiCo, Inc.  provides  as  follows:  Unless the Board of  Directors  shall
determine  otherwise,  the  Corporation  shall  indemnify,  to the full extent  permitted  by law,  any person who was or is, or who is
threatened to be made, a party to an action, suit or proceeding,  whether civil, criminal,  administrative or investigative,  by reason
of the fact that he, his testator or intestate, is or was a director,  officer or employee of the Corporation,  or is or was serving at
the request of the  Corporation  as a director,  officer or employee of another  enterprise,  against  expenses  (including  attorneys'
fees),  judgments,  fines and amounts paid in settlement  actually and reasonably  incurred by him in connection with such action, suit
or proceeding.  Such  indemnification  may, in the discretion of the Board,  include advances of a director's,  officer's or employee's
expenses prior to final  disposition  of such action,  suit or proceeding.  The right of  indemnification  provided for in this Section
3.7 shall not exclude any rights to which such persons may otherwise be entitled by contract or as a matter of law.
(iii) Officers and directors of PepsiCo, Inc. are presently  covered by insurance which (with certain  exceptions and within certain
limitations)  indemnifies  them against any losses arising from any alleged wrongful act including any alleged error or misstatement or
misleading statement or wrongful act or omission or neglect of duty.
(iv) PepsiCo, Inc. has entered into  indemnification  agreements with its directors whereby (with certain  exceptions) PepsiCo, Inc. will,
in general,  indemnify  directors,  to the extent  permitted by law, against  liabilities,  costs or expenses arising out of his or her
status as a director by reason of anything done or not done as a director.
ITEM 7.
Exemption from Registration Claimed
Not applicable.
ITEM 8.
Exhibits
Exhibit No.
Description
4.1
Amended and Restated Articles of Incorporation of PepsiCo, Inc., which are incorporated
herein by reference to Exhibit 4.1 to PepsiCo, Inc.'s Registration Statement on Form S-8
(Registration No. 333-66632).
4.2
By-laws of PepsiCo, Inc., as amended on August 2, 2001, which are incorporated herein by
reference to Exhibit 4.2 to PepsiCo, Inc.'s Registration Statement on Form S-8
(Registration No. 333-66632).
4.3
The PepsiCo Share Award Plan.
5
Opinion and consent of Thomas H. Tamoney, Jr., Esq., Vice President and Associate General
Counsel of the Registrant, relating to the legality of securities being registered.
15
Letter re: Unaudited Interim Financial Information.
23.1
Consent of KPMG LLP.
23.2
Consent of Thomas H. Tamoney, Jr., Esq., Vice President and Associate General Counsel of the
Registrant (included in his opinion filed as Exhibit 5 hereto).
24
Power of  Attorney  executed by Steven S Reinemund, Indra K. Nooyi, Peter A.  Bridgman,
John F. Akers, Robert E. Allen, David R. Andrews, Roger A. Enrico, Peter Foy, Ray L. Hunt,
Arthur C. Martinez, Robert S. Morrison, Franklin D. Raines, Sharon Percy Rockefeller,
Franklin A. Thomas, Cynthia M. Trudell, Solomon D. Trujillo and Daniel Vasella.
ITEM 9.
Undertakings
The undersigned Registrant hereby undertakes:
(1)      to file, during any period in which offers or sales are being made, a post-effective amendment to this Registration
Statement:
(a)
to include any prospectus required by Section 10(a)(3) of the Securities Act;
(b)
to reflect in the prospectus any facts or events arising after the effective
date of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change
in the information set forth in the registration statement. Notwithstanding the
foregoing, any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated maximum
offering range may be reflected in the form of prospectus filed with the SEC
pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price
represent no more than a 20% change in the maximum aggregate offering price set
forth in the "Calculation of Registration Fee" table in the effective
registration statement; and
(c)
to include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to
such information in the registration statement;
provided, however, that
paragraphs (1)(a) and (1)(b) do not apply if the information required to be
included in a post-effective amendment by those paragraphs is contained in
periodic reports filed by the Registrant pursuant to Section 13 or Section 15(d)
of the Exchange Act that are incorporated by reference in this Registration
Statement.
(2)
That, for the purpose of determining any liability under the Securities Act,
each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof.
(3)
To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the
offering.
The
undersigned Registrant hereby undertakes that, for the purposes of determining
any liability under the Securities Act, each filing of the Registrant's
annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act
(and, where applicable, each filing of an employee benefit plan's annual
report pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in this Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
Insofar
as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the Registrant
pursuant to the foregoing provisions, or otherwise, the Registrant has been
advised that in the opinion of the SEC such indemnification is against public
policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than
the payment by the Registrant of expenses incurred or paid by a director,
officer or controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Registrant will,
unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.
SIGNATURES
The
Registrant
. Pursuant to the requirements of the Securities Act, the
Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Purchase, State of New York, on May 2, 2002.
PepsiCo, Inc.
By:
/s/ Thomas H. Tamoney, Jr.
Name:  Thomas H. Tamoney, Jr.
Title: Vice President and
Associate General Counsel
Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement
has been signed by the following persons in the capacities and on the dates
indicated as of May 2, 2002.
Principal Executive Officer:
Steven S Reinemund*
Chairman of the Board
and Chief Executive Officer
Principal Financial Officer:
Indra K. Nooyi*
President,
Chief Financial Officer and
Director
Principal Accounting Officer:
Peter A. Bridgman*
Senior Vice President
and Controller
Directors:
John F. Akers
)
Robert E. Allen
)
Roger A. Enrico
)
Peter Foy
)
Ray L. Hunt
)
Arthur C. Martinez
)
Robert S. Morrison
)*
Franklin D. Raines
)
Sharon Percy Rockefeller
)
Franklin A. Thomas
)
Cynthia M. Trudell
)
Solomon D. Trujillo
)
Daniel Vasella
)
*  By:
/s/ Thomas H. Tamoney, Jr.
Thomas H. Tamoney, Jr.
Attorney-in-Fact
EXHIBIT INDEX
Exhibit No.
Description
4.1
Amended and Restated Articles of Incorporation of PepsiCo, Inc., which are incorporated
herein by reference to Exhibit 4.1 to PepsiCo, Inc.'s Registration Statement on Form S-8
(Registration No. 333-66632).
4.2
By-laws of PepsiCo, Inc., as amended on August 2, 2001, which are incorporated herein by
reference to Exhibit 4.2 to PepsiCo, Inc.'s Registration Statement on Form S-8
(Registration No. 333-66632).
4.3
The PepsiCo Share Award Plan.
5
Opinion and consent of Thomas H. Tamoney, Jr., Esq., Vice President and Associate General
Counsel of the Registrant, relating to the legality of securities being registered.
15
Letter re: Unaudited Interim Financial Information.
23.1
Consent of KPMG LLP.
23.2
Consent of Thomas H. Tamoney, Jr., Esq., Vice President and Associate General Counsel of the
Registrant (included in his opinion filed as Exhibit 5 hereto).
24
Power of  Attorney  executed by Steven S Reinemund, Indra K. Nooyi, Peter A.  Bridgman,
John F. Akers, Robert E. Allen, David R. Andrews, Roger A. Enrico, Peter Foy, Ray L. Hunt,
Arthur C. Martinez, Robert S. Morrison, Franklin D. Raines, Sharon Percy Rockefeller,
Franklin A. Thomas, Cynthia M. Trudell, Solomon D. Trujillo and Daniel Vasella.