exhibit 10. 76 700 anderson hill road purchase, new york, 10577 www. pepsico. com cynthia trudell executive vice president, human resources & chief hr officer private and confidential march 9, 2012 via email mr. brian cornell dear brian : we are pleased to confirm our offer and your acceptance to join pepsico, inc. ( “ pepsico ” or the “ company ” ) as ceo, pepsico americas foods based in purchase, new york and reporting to indra nooyi, chairman and chief executive officer of pepsico. the primary details of your offer are as follows : ▪start date – your start date will be march 12, 2012. ▪ ▪ start date – your start date will be march 12, 2012. start date – your start date will be march 12, 2012. ▪salary – your starting annual base salary will be $ 900, 000 ( $ 34, 615 payable bi - weekly ), less applicable taxes. your position is not eligible for an automatic annual increase ; instead, future adjustments to your base salary will be at the discretion of the compensation committee of the board of directors of pepsico ( the “ compensation committee ” ) based on a review of market data for comparable positions. ▪ ▪ salary – your starting annual base salary will be $ 900, 000 ( $ 34, 615 payable bi - weekly ), less applicable taxes. your position is not eligible for an automatic annual increase ; instead, future adjustments to your base salary will be at the discretion of the compensation committee of the board of directors of pepsico ( the “ compensation committee ” ) based on a review of market data for comparable positions. salary – your starting annual base salary will be $ 900, 000 ( $ 34, 615 payable bi - weekly ), less applicable taxes. your position is not eligible for an automatic annual increase ; instead, future adjustments to your base salary will be at the discretion of the compensation committee of the board of directors of pepsico ( the “ compensation committee ” ) based on a review of market data for comparable positions. ▪annual bonus – you will be eligible for an annual bonus under the pepsico, inc. executive incentive compensation plan ( the “ eicp ” ) with a target annual bonus opportunity equal to 150 % of your annual base salary. at the full discretion of the compensation committee, annual bonuses are paid out from 0 % to 200 % of target depending on business and individual performance and are