new file mode 100644
--- /dev/null
+++ b/bundled-code.tex
@@ -0,0 +1,25 @@
+\begin{frame}[fragile]{Bundling Third-Party Code}
+  Storing third-party code in your repository is common:
+  \begin{itemize}
+  \item easy setup, developers need just one checkout
+\begin{lstlisting}[language=]
+application/
+-- src/
+-- doc/
+-- lib/
+   -- libfoo/
+      -- ...
+   -- libbar/
+      -- ...
+\end{lstlisting}
+  \item everybody has the same library versions
+    \begin{itemize}
+    \item uniform across platforms
+    \item stable target for your application
+    \end{itemize}
+  \item bugs can be fixed right away
+    \begin{itemize}
+    \item no need to wait for a new upstream release
+    \end{itemize}
+  \end{itemize}
+\end{frame}

--- a/vendor-branches.tex
+++ b/vendor-branches.tex
@@ -46,6 +46,8 @@
 
 \section{Vendor Branches}
 
+\include{bundled-code}
+
 \include{library-maintenance}
 
 \section{Wrapping Up}