Wendy's 2011 Annual Report Download - page 30

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agreement between Wendy’s and THI that was executed contemporaneously with the tax sharing agreement. The
dispute resolution provision of the master separation agreement calls for good faith negotiations between the parties,
followed by non-binding mediation. Either party can bring suit if no resolution is reached following mediation. The
parties are still in discussions but it no longer appears likely that a resolution will be reached without the involvement
of a neutral third party. We cannot estimate a range of possible loss, if any, for this matter at this time since, among
other things, it is still in a preliminary stage, no arbitrator or other neutral third party has been selected by the parties,
various motions have yet to be submitted, no discovery has occurred and significant factual and legal issues are
unresolved. Wendy’s intends to vigorously assert its claim and defend against the THI claims.
Item 4. Mine Safety Disclosures.
Not applicable.
26