THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Sonic Corp. (SONC)

12/16/2005 Proxy Information

We lease two parcels of real estate, upon which we operate two drive-in restaurants, from Plains Realty Corp. (“Plains”), a corporation in which a minority interest is held by J. Clifford Hudson, Chairman of the Board of Directors, Chief Executive Officer and President of the Company, in trust for himself and in trust for his son. The Company made rental payments during fiscal year 2005 for both parcels pursuant to leases entered into in 1988 and 1989. Both leases expire in January 2009. During the last fiscal year, the Company paid Plains a total of $110,498 in rent pursuant to those two leases. We believe that the terms and conditions of the leases are no less favorable than those we could have obtained from third parties in arm’s length transactions.

H. E. Rainbolt, a director of the Company, is Chairman of the Board and a principal stockholder of BancFirst Corp., the holding company of BancFirst of Oklahoma City ("BancFirst"). BancFirst is a participant in the Company’s $150 million revolving line of credit. During the last fiscal year, the largest amount outstanding under that line of credit was approximately $35.6 million, in which BancFirst participated in approximately $3.6 million.

12/16/2004 Proxy Information

We lease two parcels of real estate, upon which we operate two drive-in restaurants, from Plains Realty Corp. (“Plains”), a corporation in which J. Clifford Hudson, Chairman of the Board of Directors, Chief Executive Officer and President of the Company, owns a minority interest. The Company made rental payments during fiscal year 2004 for both parcels pursuant to leases entered into in 1988 and 1989. Both leases expire in January 2009. During the last fiscal year, the Company paid Plains a total of $74,162 in rent pursuant to those two leases. We believe that the terms and conditions of the leases are no less favorable than those we could have obtained from third parties in arm’s length transactions.

H.E. Rainbolt, a director of the Company, is Chairman of the Board and a principal stockholder of BancFirst Corp., the holding company of BancFirst of Oklahoma City (“BancFirst”). BancFirst is a participant in the Company’s $125 million revolving line of credit. During the last fiscal year, the largest amount outstanding under that line of credit was approximately $80 million, in which BancFirst participated in approximately $9.6 million.

12/15/2003 Proxy Information

We lease two parcels of real estate, upon which we operate two Company-owned restaurants, from Plains Realty Corp. (“Plains”), a corporation in which J. Clifford Hudson, Chairman of the Board of Directors and Chief Executive Officer of the Company, owns a minority interest. The Company made rental payments during fiscal year 2003 for both parcels pursuant to leases entered into in 1988 and 1989. Both leases expire in January 2009. During the last fiscal year, the Company paid Plains a total of $94,607 in rent pursuant to those two leases. We believe that the terms and conditions of the leases are no less favorable than those we could have obtained from third parties in arm’s length transactions.

H.E. Rainbolt, a director of the Company, is Chairman of the Board and a principal stockholder of BancFirst Corp., the holding company of BancFirst of Oklahoma City (“BancFirst”). BancFirst is a participant in the Company’s $125 million revolving line of credit. During the last fiscal year, the largest amount outstanding under that line of credit was approximately $95.6 million, in which BancFirst participated in approximately $11.5 million.

Leonard Lieberman, a director of the Company, served as a director of Michael Foods, Inc. (“Michael Foods”) during the last fiscal year. Another director, Federico PeĖa, is a managing director of Vestar Capital Partners, which owned a majority of the outstanding common stock of Michael Foods during the last fiscal year. Michael Foods supplied vanilla soft serve mix and egg products to the Company’s restaurants and the restaurants owned by the Company’s franchisees. During the last fiscal year, the Company and its franchisees purchased approximately $26.6 million of such products from Michael Foods through the Company’s authorized distributors. The amount of food products purchased from Michael Foods represented approximately 4.4% of the amount of all food and paper products purchased by the Company and its franchisees for the fiscal year ended August 31, 2003. In October 2003, Michael Foods sold its dairy products division and in November 2003, Vestar Capital Partners and the other owners of Michael Foods, Inc. sold their interest in Michael Foods. Mr. Lieberman no longer serves as a director of Michael Foods. The Company currently purchases its vanilla soft serve mix from the new owner of Michael Foods’ dairy products division and continues to purchase its egg products from Michael Foods.