Document:

Coca-Cola Enterprises, Inc. 2010 Incentive Award Plan

 Exhibit 4.1 

COCA-COLA ENTERPRISES, INC. 

2010 INCENTIVE AWARD PLAN 

1. Purpose. The purpose of this 2010 Incentive Award Plan (the “Plan”) is to assist Coca-Cola Enterprises,
Inc. (the “Company”) and its Subsidiaries in attracting, retaining, and rewarding high-quality executives, employees, and other persons who provide services to the Company and/or its Subsidiaries, enabling such persons to acquire or
increase a proprietary interest in the Company in order to strengthen the mutuality of interests between such persons and the Company’s shareowners, and providing such persons with annual and long-term performance incentives to expend their
maximum efforts in the creation of shareowner value. 
 2. Definitions. For purposes of the Plan, the
following terms shall be defined as set forth below, in addition to such terms defined in Section 1, above: 
 (a)
“Award” means any Option, SAR, Restricted Stock, Restricted Stock Unit, and Cash Incentive Award granted under this Plan. 

(b) “Beneficiary” means the person, persons, trust or trusts which have been designated by a Participant in his or her most
recent written beneficiary designation filed with the Committee to receive the benefits specified under the Plan upon such Participant’s death or to which Awards or other rights are transferred if and to the extent permitted under
Section 10(a). If, upon a Participant’s death, there is no designated Beneficiary or surviving designated Beneficiary, then the term Beneficiary means the person, persons, trust or trusts entitled by will or the laws of descent and
distribution to receive such benefits. 
 (c) “Board” means the Company’s Board of Directors. 

(d) “Cash Incentive Award” means a Performance Award granted to a Participant under Section 6(f). 

(e) “Cause” means (i) willful or gross misconduct by a Participant that is materially detrimental to the Company or a
Subsidiary, (ii) acts of personal dishonesty or fraud by a Participant toward the Company or a Subsidiary, or (iii) the Participant’s conviction of a felony, except for a conviction related to vicarious liability based solely on his
position with the Company or a Subsidiary, provided that the Participant had no involvement in actions leading to such liability or had acted upon the advice of the Company’s or a Subsidiary’s counsel. 

 (f) “Change in Control” means the occurrence of any of the following
circumstances: 
  

	 	(i)	Any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing more than 30% of the combined total voting power of the
Company’s then-outstanding securities, excluding any acquisition by the Company or by an employee benefit plan (or related trust) sponsored or maintained by the Company or a Subsidiary. For purposes of this definition of Change in Control,
“Person” has the meaning provided in Sections 13(d) and 14(d) of the Exchange Act; “Beneficial Owner” has the meaning provided in Rule 13d-3 of the Exchange Act; and “Subsidiary” means any corporation or other business
organization in which the Company owns, directly or indirectly, 20% or more of the voting stock or capital or profits interest. 

  

	 	(ii)	During any period of two consecutive years, the individuals constituting the Board of Directors of the Company at the beginning of the two-year period (the
“Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any new director whose election by the Board or nomination for election by the Company’s shareowners was approved by a
vote of at least two-thirds of the directors on the Incumbent Board then still in office shall be considered as though such director were a member of the Incumbent Board; provided, further, that a director designated by a person who has entered into
an agreement with the Company to effect a Change in Control described in clause (i), (iii) or (iv) shall not be considered to be a director on the Incumbent Board. 

 

	 	(iii)	The consummation of a merger, consolidation, or share exchange with any other Person, or a sale or other disposition by the Company of all or substantially all the
assets of the Company (or any transaction having a similar effect) (a “Corporation Transaction”), other than (a) a Corporation Transaction that would result in the voting securities of the Company outstanding immediately prior to such
event continuing to represent (either by remaining outstanding or being converted into voting securities of either (I) the surviving entity or (II) another entity that owns, directly or indirectly, the entire voting interest in the surviving
entity) more than 50% of the voting power of the voting securities of the Company or the corporation resulting from such Corporation Transaction (including, without limitation, a corporation which as a result of such Corporate Transaction owns the
Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) outstanding immediately after such event, or (b) a Corporate Transaction in which no Person acquires more than 30% of the
combined voting power of the Company’s then-outstanding securities or the outstanding securities of the corporation resulting from such Corporation Transaction. 

 

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	 	(iv)	The approval by the shareowners of the Company of a plan of complete liquidation of the Company. 

(g) “Code” means the Internal Revenue Code of 1986, as amended from time to time, including regulations thereunder and
successor provisions and regulations thereto. 
 (h) “Committee” means not less than two members of the Human
Resources and Compensation Committee of the Board, each of whom shall be (i) a “disinterested director” within the meaning of Rule 16b-3 under the Exchange Act, unless administration of the Plan by “disinterested directors”
is not then required in order for exemptions under Rule 16b-3 to apply to transactions under the Plan, and (ii) an “outside director” as defined under Code Section 162(m), unless the action taken pursuant to the Plan is not
required to be taken by “outside directors” in order to qualify for tax deductibility under Code Section 162(m). 

(i) “Covered Employee” shall have the same meaning as “Covered Employee” under Code Section 162(m) and
regulations thereunder. 
 (j) “Dividend Equivalents” means an amount credited under a Participant’s Restricted
Stock Unit Award, which amount is equal to the dividends paid on the Stock, determined as if the Restricted Stock Unit were a share of Stock on the record date of any such dividend. 

(k) “Eligible Person” means directors, Executive Officers, other officers and employees of the Company or of any Subsidiary, as
well as other persons providing key services to the Company or a Subsidiary. 
 (l) “Exchange Act” means the
Securities Exchange Act of 1934, as amended from time to time, including rules thereunder and successor provisions and rules thereto. 

(m) “Executive Officer” means an executive officer of the Company as defined under the Exchange Act. 

(n) “Fair Market Value” means the fair market value of Stock or other property as determined by the Committee or under
procedures established by the Committee. Unless otherwise determined by the Committee, the Fair Market Value of Stock shall be the closing price of a share of Stock on the date for which the determination is made, or on the next preceding day if
such date was not a trading day, as reported on the New York Stock Exchange Composite Listing reflecting composite trading as of 4:00 p.m., Eastern Time on the trading day. 

(o) “Good Reason” means (unless otherwise specified in the Award or other relevant agreement) the Participant’s
(i) material demotion or material diminution of duties, responsibilities and authority; (ii) material reduction in both base salary and annual incentive opportunities (except for reductions in annual incentive opportunities

  

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due to individual performance adjustments); or (iii) assignment to a position requiring relocation of more than 50 miles from the Participant’s primary workplace (i.e., the
Company’s corporate headquarters or other location, as applicable), provided that (a) the Participant does not consent to such event, (b) the Participant has given written notice to the Company within 60 days of the date on which the
circumstances giving rise to the event initially arise, (c) the Company has one month to remedy the matter, and (d) if the matter is not remedied, the Participant actually separates from service within two years after the initial existence
of the circumstances giving rise to the event. 
 (p) “Interest Credit” means (unless otherwise specified in the Award
or other relevant agreement), an amount credited under a Participant’s Restricted Stock Unit Award, which amount is based on the annual rate equivalent to the weighted average prime lending rate of SunTrust Bank, Atlanta for the relevant
calendar year or portion of the calendar year. 
 (q) “Option” means a right, granted to a Participant under
Section 6(b), to purchase Stock at a specified price during specified time periods. 
 (r) “Participant” means a
person who has been granted an Award under the Plan which remains outstanding, including a person who is no longer an Eligible Person. 

(s) “Performance Award” means an Award, or the right to receive an Award, granted to an Eligible Person under Section 8,
which Award or right shall be subject to the performance criteria specified by the Committee. 
 (t) “Restricted
Stock” means Stock granted to a Participant under Section 6(d), that is subject to certain restrictions and to a risk of forfeiture. 

(u) “Restricted Stock Unit” means a right, granted to a Participant under Section 6(e), to receive Stock, cash or a
combination of the foregoing. 
 (v) “Rule 16b-3” means Rule 16b-3, as from time to time in effect and applicable to
the Plan and Participants, promulgated by the Securities and Exchange Commission under Section 16 of the Exchange Act or any similar law or regulation that may be a successor thereto. 

(w) “Stock” means shares of common stock, $1 par value, of the Company. 

(x) “Stock Appreciation Right” or “SAR” means a right granted to a Participant under Section 6(c). 

(y) “Subsidiary” means any corporation or other business organization in which the Company owns, directly or indirectly, 20% or
more of the voting stock or capital or profits interest at the time of the granting of an Award under this Plan. 
  

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	 	3.	Administration. 

(a) Authority of the Committee. The Plan shall be administered by the Committee. The Committee shall have full and final
authority, in each case subject to and consistent with the provisions of the Plan, to interpret the provisions of the Plan, select Eligible Persons to become Participants, grant Awards, determine the type, number and other terms and conditions of,
and all other matters relating to, Awards, interpret the Plan and Award agreements and correct defects, supply omissions or reconcile inconsistencies therein, ensure that Awards continue to qualify under Rule 16b-3, and make all other decisions and
determinations as the Committee may deem necessary or advisable for the administration of the Plan. Any action of the Committee shall be final, conclusive and binding on all persons, including the Company, its Subsidiaries, its shareowners,
Participants, Beneficiaries, transferees under Section 10(a) or other persons claiming rights from or through a Participant. 

(b) Limitation of Liability. In addition to such other rights of indemnification as they have as directors or as members of the
Committee, the members of the Committee shall be indemnified by the Company against reasonable expenses (including, without limitation, attorneys’ fees) incurred in connection with the defense of any action, suit or proceeding, or in connection
with any appeal, to which they or any of them may be a party by reason of any action taken or failure to act in connection with the Plan or awards granted thereunder, and against all amounts paid by them in settlement (provided such settlement is
approved to the extent required by and in the manner provided by the Certificate of Incorporation or Bylaws of the Company relating to indemnification of directors) or paid by them in satisfaction of a judgment in any such action, suit or
proceeding, except in relation to matters as to which it shall be adjudged in such action, suit or proceeding. 
  

	 	4.	Stock Subject to Plan. 

(a) Overall Number of Shares Available for Delivery. Subject to adjustment as provided in Section 10(b), the total number of
shares of Stock reserved and available for delivery in connection with Awards under the Plan shall be 20,000,000. No more than 5,000,000 shares of Stock will be available for incentive stock options within the meaning of Code Section 422. The
Stock shall be made available from authorized and unissued shares or from Stock held by the Company in its treasury. 
 (b)
Availability of Shares Not Delivered Under Awards. Shares of Stock subject to an Award under the Plan that is expired, forfeited, settled in cash, withheld in settlement of the Participant’s tax liabilities or otherwise terminated
without a delivery of shares to the Participant will again be available for Awards under the Plan. Stock received by the Company in payment upon the exercise of an Option will not be the subject of a subsequent Award. 

 

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 5. Eligibility; Per-Person Award Limitations. Awards may be granted
under the Plan only to Eligible Persons. Subject to adjustment as provided in Section 10(b), the maximum number of shares of Stock with respect to which Options and SARs may be granted to any Eligible Person in any calendar year is 1,000,000
2,000,000 and the maximum number of Restricted Stock and Restricted Stock Units shall be 2,000,000. The maximum value of Cash Incentive Awards that can be earned in respect of any calendar year by any Eligible Person shall be $10,000,000.

  

	 	6.	Specific Terms of Awards. 

(a) General. Awards may be granted on the terms and conditions set forth in this Section 6. 

(i) The Committee also may impose on any Award or the exercise, at the date of grant or thereafter (subject to Sections
7(e) and 10(d)), such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Committee shall determine, including terms requiring forfeiture of Awards in the event of termination of employment by the
Participant and terms permitting a Participant to make elections relating to his or her Award. 
 (ii) The
Committee shall retain full power and discretion to accelerate, waive or modify, at any time, any term or condition of an Award that is imposed in the Award agreement, provided, however, that the Committee shall not have the discretion to accelerate
or defer payment with respect to any Award that is subject to Code Section 409A if the exercise of such discretion would violate Code Section 409A. 

(iii) Notwithstanding anything in this Plan to the contrary, an Option or SAR shall not be granted to an Eligible Person
unless the Stock would constitute “service recipient stock” within the meaning of Treas. Reg. §1.409A-1(b)(5)(iii) with respect to such Eligible Person. 

(b) Options. The Committee is authorized to grant Options to Eligible Persons on the following terms and conditions: 

(i) Exercise Price. The exercise price per share of Stock purchasable under an Option shall be determined by the
Committee, provided that such exercise price shall be not less than the Fair Market Value of a share of Stock on the date of grant of such Option. 

(ii) Time and Method of Exercise. Awards of Options may contain such provisions as the Committee shall determine
appropriate, including provisions related to the vesting of the Option, the times at which, or the circumstances under which, an Option may be exercised, and the methods by which such exercise price may be paid or deemed to be paid. 

 

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 (iii) Duration of Options. Awards will contain a provision stating
the duration of an Option, which duration may not exceed 10 years from the date of grant. 
 (iv) Character of
Options. Unless otherwise specified in the Award agreement, any Option issued shall be a non-statutory option. 

(v) Options Granted to International Participants. Options granted to an Eligible Person who is subject to the laws
of a country other than the United States of America may contain terms and conditions inconsistent with the provisions of this Plan or may be granted under such supplemental documents, as required or appropriate under such country’s laws.

 (c) Stock Appreciation Rights. The Committee is authorized to grant SARs to Eligible Persons on the following terms
and conditions: 
 (i) Right to Payment. An SAR shall confer on the Participant to whom it is granted a
right to receive, upon exercise, the excess of (A) the Fair Market Value of one share of Stock on the date of exercise over (B) the grant price of the SAR, which payment may be satisfied by delivery of cash or Stock. 

(ii) Other Terms. The Committee shall determine the terms and conditions of any SAR, including but not limited to,
the times at which and the circumstances under which an SAR may be exercised, the method of exercise, the method of settlement, and the method by which Stock, if any, will be delivered or deemed to be delivered to Participants. 

(d) Restricted Stock. The Committee is authorized to grant Restricted Stock to Eligible Persons on the following terms and
conditions: 
 (i) Grant and Restrictions. Restricted Stock shall be subject to such restrictions on
transferability, risk of forfeiture and other restrictions, if any, as the Committee may impose, which restrictions may lapse separately or in combination at such times, under such circumstances (including based on achievement of performance goals
and/or future service requirements), and in such installments or otherwise, as the Committee may determine at the date of grant or thereafter. 

(ii) Right as Shareowner. Except to the extent limited under any Award agreement relating to Restricted Stock, a
Participant granted Restricted Stock shall have all of the rights of a shareowner, including the right to vote the Restricted Stock and the right to receive dividends thereon (subject to any mandatory reinvestment or other requirement imposed by the
Committee). 
  

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 (iii) Certificates for Stock. Restricted Stock granted under the Plan
may be evidenced in such manner as the Committee shall determine. If certificates representing Restricted Stock are registered in the name of the Participant, the Committee may require that such certificates bear an appropriate legend referring to
applicable restrictions, that the Company retain physical possession of the certificates, and that the Participant deliver a stock power to the Company, endorsed in blank, relating to the Restricted Stock. 

(iv) Dividends and Splits. As a condition to the grant of an Award of Restricted Stock, the Committee may require
that any cash dividends paid on a share of Restricted Stock be automatically reinvested in additional shares of Restricted Stock or applied to the purchase of additional Awards under the Plan. Unless otherwise determined by the Committee, Stock
distributed in connection with a Stock split or Stock dividend, and other property distributed as a dividend, shall be subject to restrictions and a risk of forfeiture to the same extent as the Restricted Stock with respect to which such Stock or
other property has been distributed. 
 (e) Restricted Stock Units. The Committee is authorized to grant Restricted Stock
Units to Eligible Persons, subject to the following terms and conditions: 
 (i) Restricted Stock Unit
Award. A Restricted Stock Unit shall be recorded in a bookkeeping reserve maintained by the Company as equivalent to the Fair Market Value of a share of the Company’s Stock on the date of grant, unless otherwise determined by the Company.

 (ii) Grant and Restrictions. A Restricted Stock Unit shall be subject to such risk of forfeiture and
other conditions as the Committee may impose, which restrictions may lapse, or conditions be satisfied, separately or in combination at such times, under such circumstances (including based on achievement of performance goals and/or future service
requirements), and in such installments or otherwise, as the Committee may determine at the date of grant. 

(iii) Dividend Equivalents and Interest Credits. As specified in the Award agreement, Dividend Equivalents and/or
Interest Credits related to a Restricted Stock Unit may also be credited on behalf of a Participant and/or converted to additional Restricted Stock Units. 

(iv) Settlement of Restricted Stock Units and Related Interests. Restricted Stock Units represent the right to
receive Stock, cash, or a combination at the end of a specified period, as specified in the Award agreement or pursuant to the Committee’s determination. 
  

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 (f) Cash Incentive Awards. The Committee is authorized to grant Cash Incentive Awards
to Participants subject to performance criteria in the manner described in Section 8. 
  

	 	7.	Certain Other Provisions Applicable to Awards. 

(a) Term of Awards. The term of each Award shall be for such period as may be determined by the Committee; provided that in no
event shall the term of any Option or SAR exceed a period of ten years. 
 (b) Exemptions from Section 16(b)
Liability. It is the intent of the Company that the grant of any Awards to or other transaction by a Participant who is subject to Section 16 of the Exchange Act shall be exempt under Rule 16b-3 (except for transactions acknowledged in
writing to be non-exempt by such Participant). Accordingly, if any provision of this Plan or any Award agreement does not comply with the requirements of Rule 16b-3 as then applicable to any such transaction, unless the Participant shall have
acknowledged in writing that a transaction pursuant to such provision is to be non-exempt, such provision shall be construed or deemed amended to the extent necessary to conform to the applicable requirements of Rule 16b-3 so that such Participant
shall avoid liability under Section 16(b) of the Exchange Act. 
 (c) Cancellation of Awards. Notwithstanding any
provision of Section 10(d), unless the Award agreement specifies otherwise, the Committee may cancel any unexpired, unpaid, or deferred Awards at any time, if the Participant is not in compliance with all applicable provisions of the Award
agreement and the Plan. 
 (d) Repricing. The Committee will not take any action that constitutes “repricing”
for purposes of the shareholder approval rules of any securities exchange or inter-dealer quotation system on which the securities of the Company are listed or quoted unless such action is approved by a majority of the shareholders. 

 

	 	8.	Performance Awards. 

(a) Performance Conditions. The right of a Participant to exercise or receive a grant, settlement or payment of any Award, and the
timing of such grant, settlement or payment, may be subject to such performance conditions as may be specified by the Committee. The Committee may use such business criteria and other measures of performance as it may deem appropriate in
establishing any performance conditions, and may exercise its discretion to reduce or increase the amounts payable under any Award subject to performance conditions, except as limited under Section 8(b) in the case of a Performance Award
intended to qualify under Code Section 162(m). The Committee may in its discretion remove the performance conditions from a Performance Award other than a Performance Award granted under Section 8(b) to a Covered Employee. 

(b) Performance Awards Granted to Covered Employees and Certain Eligible Persons. If the Committee determines that a Performance
Award to be granted to an Eligible Person who is or may become a Covered Employee should qualify as 
  

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“performance-based compensation” for purposes of Code Section 162(m), the grant, exercise and/or settlement of such Performance Award shall be contingent upon achievement of
pre-established performance goals and other terms set forth in this Section 8(b). 
 (i) Performance
Goals Generally. The performance goals for such Performance Awards shall consist of one or more business criteria and a targeted level or levels of performance and associated maximum Award payments with respect to each of such criteria, as
specified by the Committee consistent with this Section 8(b). Performance goals shall be objective and shall otherwise meet the requirements of Code Section 162(m) and regulations thereunder (including Regulation Section 1.162-27 and
successor regulations thereto). The Committee may determine that such Performance Awards shall be granted, exercised and/or settled upon achievement of any performance goal or that more than one performance goal must be achieved as a condition to
grant, exercise and/or settlement of such Performance Awards. Performance goals may differ for Performance Awards granted to any one Participant or to different Participants. 

(ii) Business Criteria. One or more of the following business criteria for the Company, as defined by the
Committee, on a consolidated basis, and/or for specified Subsidiaries or business units of the Company (except with respect to the total shareowner return and earnings per share criteria), shall be used by the Committee in establishing performance
goals for such Performance Awards: (1) Fair Market Value of shares of the Company’s Stock; (2) operating profit; (3) operating income; (4) sales volume of the Company’s products; (5) earnings per share;
(6) revenues; (7) cash flow; (8) cash flow return on investment; (9) return on assets; (10) return on investment; (11) return on capital; (12) return on equity; (13) return on invested capital;
(14) economic value added; (15) operating margin; (16) net income; (17) pretax earnings; (18) pretax earnings before interest; (19) depreciation and amortization; (20) pretax operating earnings after interest
expense and before incentives, service fees, and extraordinary or special items; and (21) any of the above goals as compared to the performance of a published or special index deemed applicable by the Committee including, but not limited to,
the Standard & Poor’s 500 Stock Index or a group of comparator companies. 
 (iii) Performance
Period; Timing for Establishing Performance Goals. Achievement of performance goals in respect of such Performance Awards shall be measured over a performance period, which may overlap with another performance period or periods, of up to ten
years, as specified by the Committee. Performance goals shall be established not later than 90 days after the beginning of any performance period applicable to such Performance Awards, or at such other date as may be

  

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required or permitted for “performance-based compensation” under Code Section 162(m). 

(c) Written Determinations. All determinations by the Committee as to the establishment of performance goals, the amount of any
Performance Award and as to the achievement of performance goals relating to Performance Awards under Section 8(b) shall be made in writing in the case of any Award intended to qualify under Code Section 162(m). The Committee may not
delegate any responsibility relating to such Performance Awards. 
 (d) Status of Section 8(b) Performance Awards Under
Code Section 162(m). It is the intent of the Company that Performance Awards under Section 8(b) granted to persons who are designated by the Committee as likely to be Covered Employees within the meaning of Code Section 162(m) and
regulations thereunder (including Regulation Section 1.162-27 and successor regulations thereto) shall, if so designated by the Committee, constitute “performance-based compensation” within the meaning of Code Section 162(m) and
regulations thereunder. Accordingly, Sections 8(b), (c) and (d), shall be interpreted in a manner consistent with Code Section 162(m) and regulations thereunder. If any provision of the Plan as in effect on the date of adoption or any
agreements relating to Performance Awards that are designated as intended to comply with Code Section 162(m) does not comply or is inconsistent with the requirements of Code Section 162(m) or regulations thereunder, such provision shall be
construed or deemed amended to the extent necessary to conform to such requirements. 
 9. Change in Control. If
within 24 months after a Change in Control a Participant’s employment with the Company and its Subsidiaries is terminated by the Company without Cause or by the Participant for Good Reason, the following provisions shall apply unless otherwise
provided in the Award agreement: 
 (a) Options and SARs. Any Option or SAR carrying a right to exercise that was not
previously exercisable and vested shall become fully exercisable and vested as of the time of termination of employment and shall remain exercisable and vested for the balance of the stated term of such Option or SAR without regard to the
termination of employment by the Participant. 
 (b) Restricted Stock and Restricted Stock Units. The restrictions,
deferral of settlement, and forfeiture conditions applicable to any Restricted Stock or Restricted Stock Unit shall lapse and such Awards shall be deemed fully vested as of the time of the termination of employment, except to the extent of any
waiver by the Participant. 
 (c) Limitations on Company in Event of a Change in Control. In the event of a Change in
Control, the Company shall take or cause to be taken no action, and shall undertake or permit to arise no legal or contractual obligation, that results or would result in any postponement of the issuance or delivery of Stock or payment of benefits
under any Award or the imposition of any other conditions on such issuance, delivery or 
  

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payment, to the extent that such postponement or other condition would represent a greater burden on a Participant than existed on the 90th day preceding the Change in Control. 

 

	 	10.	General Provisions. 

(a) Limits on Transferability; Beneficiaries. Except as otherwise provided in this Section 10(a), no Award or other right or
interest of a Participant under the Plan shall be pledged, hypothecated or otherwise encumbered or subject to any lien, obligation or liability of such Participant to any party (other than the Company or a Subsidiary), or assigned or transferred by
such Participant other than by will or the laws of descent and distribution upon the death of a Participant, and such Awards or rights that may be exercisable shall be exercised during the lifetime of the Participant only by the Participant or his
or her guardian or legal representative. 
 (i) Transferability of Options. Unless otherwise specified in
the Award, an Option may be transferred pursuant to a domestic relations order issued by a court of competent jurisdiction or to an immediate family member of the Participant under such terms and conditions as may be determined, from time to time,
by the Committee. An “immediate family member” is defined as the Participant’s spouse, child, grandchild, parent or a trust established for the benefit of such family members. With respect to any Option transferred pursuant to this
Section 10(a)(i), any such Option shall be exercisable only by the designated transferee or the designated transferee’s legal representative. 

(ii) Transferability of Restricted Stock Units. A Participant may designate one or more Beneficiaries to receive
his or her interest under the Plan that is related to Restricted Stock Units in the event of his or her death. 

(iii) Beneficiaries and Transferees Subject to Terms of Award. Any Beneficiary or transferee, or other person
claiming any rights under the Plan from or through any Participant, shall be subject to all terms and conditions of the Plan and any Award agreement applicable to such Participant, except as otherwise determined by the Committee, and to any
additional terms and conditions deemed necessary or appropriate by the Committee. 
 (b) Adjustments. In the event that
any dividend or other distribution (whether in the form of cash, Stock, or other property), recapitalization, forward or reverse stock split, reorganization, merger, consolidation, spin-off, combination, repurchase, share exchange, liquidation,
dissolution or other similar corporate transaction or event results in existing holders of Stock holding stock or other securities that differ in kind, character or amount from the Stock previously held by them, the Committee shall provide such
adjustments or substitutions with respect to the Plan and to the Awards and to any prior plan and to awards granted thereunder as are necessary and appropriate to 

 

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prevent each holder of outstanding Awards or awards issued under a prior plan from experiencing a significant increase or decrease, solely by reason of such transaction: (i) in the case of
Options or similar Awards, in the holder’s then existing spread value (i.e., the difference between the exercise or grant price of the Award and the fair market value of the related Stock), (ii) in the case of Restricted Stock, Restricted
Stock Units, or similar full-value Awards, in the then existing fair market value (disregarding restrictions based on future service) of the holder’s Awards and, (iii) the number and kind of shares of Stock by which annual per-person Award
limitations are measured under Section 5. The actions required by the foregoing shall in no event be interpreted to result in adjustments or substitutions greater than those needed to provide parity of treatment between the holders of such
Awards and holders of Stock. The Committee is authorized to make adjustments in the terms and conditions of, and the criteria included in, Awards (including Performance Awards and performance goals related thereto) in recognition of unusual or
nonrecurring events (including, without limitation, events described in the preceding sentence, as well as acquisitions and dispositions of businesses and assets) affecting the Company, any Subsidiary or any business unit, or the financial
statements of the Company or any Subsidiary, or in response to changes in applicable laws, regulations, accounting principles, tax rates and regulations or business conditions or in view of the Committee’s assessment of the business strategy of
the Company, any Subsidiary or business unit, performance of comparable organizations, economic and business conditions, personal performance of a Participant, and any other circumstances deemed relevant; provided that no such adjustment shall be
authorized or made if and to the extent that such authority or the making of such adjustment would cause Performance Awards made under Section 8(b) to otherwise fail to qualify as “performance-based compensation” under Code
Section 162(m) and regulations thereunder. 
 (c) Taxes. The Company and any Subsidiary is authorized to withhold
from any Award granted, any payment relating to an Award under the Plan, including from a distribution of Stock, or any payroll or other payment to a Participant, amounts of withholding and other taxes due or potentially payable in connection with
any transaction involving an Award, and to take such other action as the Committee may deem advisable to enable the Company and Participants to satisfy obligations for the payment of withholding taxes and other tax obligations relating to any Award.
However, this authority shall not include withholding of taxes above the statutorily required withholding amounts where such excess withholding would result in an earnings charge to the Company under U.S. Generally Accepted Accounting Principles.

 (d) Changes to the Plan and Awards. The Board or the Committee may amend, alter, suspend, discontinue or terminate the
Plan or the Committee’s authority to grant Awards under the Plan without the consent of shareowners or Participants, except that any amendment or alteration to the Plan shall be subject to the approval of the Company’s shareowners not
later than the annual meeting next following such Board action if such shareowner approval is required by any federal or state law or regulation or the rules of any stock exchange or automated quotation system on which the Stock may then be listed
or quoted, and the Board may otherwise, in its discretion, determine to submit other such changes to the Plan to shareowners for approval. Notwithstanding the foregoing, no such action may materially and adversely affect the

  

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rights of such Participant under any previously granted and outstanding Award, without the consent of an affected Participant. The Committee may waive any conditions or rights under, or amend,
alter, suspend, discontinue or terminate any Award theretofore granted and any Award agreement relating thereto, except as otherwise provided in the Plan; provided that, without the consent of an affected Participant, no such Committee action may
materially and adversely affect the rights of such Participant under such Award. 
 (e) Limitation on Rights Conferred Under
Plan. Neither the Plan nor any action taken hereunder shall be construed as (i) giving any Eligible Person or Participant the right to continue as an Eligible Person or Participant or in the employ or service of the Company or a Subsidiary,
(ii) interfering in any way with the right of the Company or a Subsidiary to terminate any Eligible Person’s or Participant’s employment or service at any time, (iii) giving an Eligible Person or Participant any claim to be
granted any Award under the Plan or to be treated uniformly with other Participants or employees, or (iv) except as provided in Section 6(d)(ii), conferring on a Participant any of the rights of a shareowner of the Company unless and until
the Participant is duly issued or transferred shares of Stock in accordance with the terms of an Award. 
 (f) Unfunded
Status of Awards; Creation of Trusts. The Plan is intended to constitute an “unfunded” plan for incentive compensation. With respect to any payments not yet made to a Participant or obligation to deliver Stock pursuant to an Award,
nothing contained in the Plan or any Award shall give any such Participant any rights that are greater than those of a general creditor of the Company; provided that the Committee may authorize the creation of trusts and deposit therein cash, Stock,
other Awards or other property, or make other arrangements to meet the Company’s obligations under the Plan. Such trusts or other arrangements shall be consistent with the “unfunded” status of the Plan unless the Committee otherwise
determines. The trustee of such trusts may be authorized to dispose of trust assets and reinvest the proceeds in alternative investments, subject to such terms and conditions as the Committee may specify and in accordance with applicable law.

 (g) Payments in the Event of Forfeitures; Fractional Shares. Unless otherwise determined by the Committee, in the
event of a forfeiture of an Award with respect to which a Participant paid cash or other consideration, the Participant shall be repaid the amount of such cash or other consideration. No fractional shares of Stock shall be issued or delivered
pursuant to the Plan or any Award. The Committee shall determine whether cash, other Awards or other property shall be issued or paid in lieu of such fractional shares or whether such fractional shares or any rights thereto shall be forfeited or
otherwise eliminated. 
 (h) Governing Law. The validity, construction and effect of the Plan, any rules and regulations
under the Plan, and any Award agreement shall be determined in accordance with Georgia law, without giving effect to principles of conflicts of laws, and applicable federal law. 

 

 14 

 (i) Code Section 409A. This Plan and the Awards are generally not intended to be
subject to Code Section 409A. To the extent this Plan or the Awards are subject to Section 409A, the Plan and Awards are intended to comply with Code Section 409A and shall be interpreted and operated accordingly. Notwithstanding any
provision of Section 10(d), if this Plan or any Award is subject to Code Section 409A, the Committee reserves the authority to amend this Plan or any Award as necessary to comply with Code Section 409A or to ensure that Code
Section 409A does not apply to the Plan or the Award. 
  

 15Trust Deed and Rules of the Coca-Cola Enterprises UK Employee Share Plan

 Exhibit 4.2 

BOTTLING GREAT BRITAIN LIMITED 

and 

COCA-COLA ENTERPRISES EUROPE LIMITED 

and 

COCA-COLA ENTERPRISES LIMITED 

and 

CAPITA IRG TRUSTEES LIMITED 
  

 
 TRUST DEED
AND RULES 
 of the 

COCA-COLA ENTERPRISES UK EMPLOYEE 

SHARE PLAN (Effective 2010) 
  

 
 Adopted by
the Board of Directors of Bottling Great Britain Limited 
 on
                     2010 

Approved under Schedule 2 of the Income Tax (Earnings and Pensions) Act 2003 by HM 

Revenue and Customs on
                     2010 under Reference
                     

 THE 2010 COCA-COLA ENTERPRISES LTD UK 

EMPLOYEE SHARE PLAN 
  

			
		
	 1.
	 	PURPOSE
		
	 2.
	 	STATUS
		
	 3.
	 	DECLARATION OF TRUST
		
	 4.
	 	NUMBER OF TRUSTEES
		
	 5.
	 	INFORMATION
		
	 6.
	 	RESIDENCE OF TRUSTEES
		
	 7.
	 	CHANGE OF TRUSTEES
		
	 8.
	 	INVESTMENT AND DEALING WITH TRUST ASSETS
		
	 9.
	 	LOANS TO TRUSTEES
		
	 10.
	 	SHARES FROM QUALIFYING SHARE OWNERSHIP TRUSTS
		
	 11.
	 	TRUSTEES’ OBLIGATIONS UNDER THE PLAN
		
	 12.
	 	POWER OF TRUSTEES TO RAISE FUNDS TO SUBSCRIBE FOR A RIGHTS ISSUE
		
	 13.
	 	POWER TO AGREE MARKET VALUE OF SHARES
		
	 14.
	 	PERSONAL INTEREST OF TRUSTEES
		
	 15.
	 	TRUSTEES’ MEETINGS
		
	 16.
	 	SUBSIDIARY COMPANIES
		
	 17.
	 	EXPENSES OF PLAN
		
	 18.
	 	TRUSTEES’ LIABILITY AND INDEMNITY
		
	 19.
	 	COVENANT BY THE PARTICIPATING COMPANIES
		
	 20.
	 	ACCEPTANCE OF GIFTS
		
	 21.
	 	TRUSTEES’ LIEN
		
	 22.
	 	AMENDMENTS TO THE PLAN
		
	 23.
	 	TERMINATION OF THE PLAN

  

 1 

			
		
	 24.
	 	NOTICES
		
	 25.
	 	PROPER LAW

  

 2 

 THIS DEED made on
                     2010 

BETWEEN 
  

	(1)	BOTTLING GREAT BRITAIN LIMITED whose registered office is situated at Charter Place, Uxbridge, Middlesex UB8 1EZ (hereinafter called “the Company”)

 and 
  

	(2)	COCA-COLA ENTERPRISES EUROPE LIMITED (whose registered office is at Charter Place, Uxbridge, Middlesex UB8 1EZ and COCA-COLA ENTERPRISES LIMITED (whose
registered office is at Charter Place, Uxbridge, Middlesex UB8 1EZ (hereinafter together with the Company called “the Participating Companies”) 

and 
  

	(3)	CAPITA IRG TRUSTEES LIMITED whose registered office is at Bourne House, 34 Beckenham Road, Beckenham, Kent BR3 4TU (hereinafter called “the Trustees”).

  

	1.	PURPOSE 

 The purpose of
this Deed is to establish a trust for the employee share ownership plan known as the Coca-Cola Enterprises UK Employee Share Plan (Effective 2010) (“the Plan”) which satisfies Schedule 2 to the Income Tax (Earnings and Pensions) Act 2003.

  

	2.	STATUS 

 The Plan consists
of this Deed and the attached Rules and Appendices. The definitions in the Rules apply to this Deed. The Company shall from time to time determine which of parts A to D of the Rules shall have effect. Where the Company determines that part B shall
have effect it shall also specify whether there is to be an Accumulation Period of up to 12 months, which shall apply equally to all Qualifying Employees in the Plan. 
  

	3.	DECLARATION OF TRUST 

  

	3.1	 The Participating Companies and the Trustees have agreed that all the Shares and other assets which are issued to or transferred to the Trustees are to
be held on the trusts declared by this Deed, and subject to the terms of the Rules. When Shares or assets are transferred to the Trustees by the Participating Companies with the intention of being held as part of the

  

 3 

	 	 
Plan they shall be held upon the trusts and provisions of this Deed and the Rules. 

  

	3.2	The Trustees shall hold the Trust Fund upon the following trusts namely: 

  

	 	(a)	as to Shares which have not been awarded to Participants (“Unawarded Shares”) upon trust during the Trust Period to allocate those Shares in accordance with
the terms of this Deed and the Rules; 

  

	 	(b)	as to Shares which have been awarded to a Participant (“Plan Shares”) upon trust for the benefit of that Participant on the terms and conditions set out in
the Rules; 

  

	 	(c)	as to Partnership Share Money upon trust to purchase Shares for the benefit of the contributing Qualifying Employee in accordance with the Rules; and

  

	 	(d)	as to other assets (“Surplus Assets”) upon trust to use them to purchase further Shares to be held on the trusts declared in (a) above, at such time
during the Trust Period and on such terms as the Trustees in their absolute discretion think fit 

  

	3.3	The income of Unawarded Shares and Surplus Assets shall be accumulated by the Trustees and added to, and held upon the trusts applying to, Surplus Assets.

  

	3.4	The income of Plan Shares and Partnership Share Money shall be dealt with in accordance with the Rules. 

 

	3.5	The perpetuity period in respect of the trusts and powers declared by this Deed and the Rules shall be the period of 125 years from the date of this Deed.

  

	4.	NUMBER OF TRUSTEES 

Unless a corporate Trustee is appointed, there shall always be at least two Trustees. Where there is no corporate Trustee, and the number
of Trustees falls below two, the continuing Trustee has the power to act only to achieve the appointment of a new Trustee. 
  

 4 

	5.	INFORMATION 

  

	5.1	The Trustees shall be entitled to rely without further enquiry on all information supplied to them by the Participating Companies with regard to their duties as
trustees and in particular, but without prejudice to the generality of the foregoing, any notice given by a Participating Company to the Trustees in respect of the eligibility of any person to become or remain a Participant shall be conclusive in
favour of the Trustees. 

  

	5.2	Except as otherwise provided, the Trustees may in their discretion agree with the Company or any of the Participating Companies matters relating to the operation and
administration of the Trust as they may consider advisable in the interest of the Trust and so that no person claiming an interest under this Trust shall be entitled to question the legality or correctness of any arrangement or agreement made
between the Company or any of the Participating Companies and the Trustees in relation to such operation or administration. 

  

	5.3	The decision of the board of directors of the Company in any dispute affecting Participants or Participating Companies shall be final and conclusive.

  

	5.4	The Trustees may employ on such terms as the Company may agree as to remuneration, any agent or agents to transact all or any business of whatsoever nature required to
be done in the proper administration of the Trust. 

  

	6.	RESIDENCE OF TRUSTEES 

Every Trustee shall be resident in the United Kingdom. The Company shall immediately remove any Trustee who ceases to be so resident and,
if necessary, appoint a replacement. 
  

	7.	CHANGE OF TRUSTEES 

 The
Company has the power to appoint or remove any Trustee for any reason. The change of Trustee shall be effected by resolution of the board of directors of the Company and shall take effect from the date that written notice of such removal is
delivered to the Trustees, or such later date as the Company and the Trustees shall agree. Any Trustee may resign on three month’s notice given in writing to the Participating Companies, provided that there will be at least two Trustees or a
corporate Trustee immediately after the retirement. 
  

	8.	INVESTMENT AND DEALING WITH TRUST ASSETS 

  

	8.1	Save as otherwise provided for by the Plan the Trustees shall not sell or otherwise dispose of Plan Shares. 

 

 5 

	8.2	The Trustees shall obey any directions given by a Participant in accordance with the Rules in relation to his Plan Shares and any rights and income relating to those
Shares. In the absence of any such direction, or provision by the Plan, the Trustees shall take no action. If no directions are received from Participants in relation to the action they wish the Trustees to take in voting their Plan Shares, those
shares will be not be voted. 

  

	8.3	The Participating Companies shall, as soon as practicable after deduction from Salary, pass the Partnership Share Money to the Trustees who will put the money into an
account with: 

  

	 	(a)	a person falling within section 991(2)(b) of the Income Tax Act 2007 (institutions authorised to accept deposits); 

 

	 	(b)	a building society; or 

  

	 	(c)	a firm falling within section 991(2)(c) of the Income Tax Act 2007 (EEA firms permitted to accept deposits), 

until it is either used to acquire Partnership Shares on the Acquisition Date, or, in accordance with the Plan, returned to the individual
from whose Salary the Partnership Share Money has been deducted. 
 The Trustees shall pass on any interest arising on this
invested money to the individual from whose Salary the Partnership Share Money has been deducted at least once in each calendar year. The Trustees are, however, not obliged to keep monies in an interest bearing account. 

 

	8.4	The Trustees may either retain or sell Unawarded Shares at their absolute discretion provided that they shall sell any Unawarded Shares which they have held for one
year and eleven months. The proceeds of any sale of Unawarded Shares shall form part of Surplus Assets. 

  

	8.5	The Trustees shall have all the powers of investment of a beneficial owner in relation to Surplus Assets. 

 

	8.6	The Trustees shall not be under any liability to the Participating Companies or to current or former Qualifying Employees by reason of a failure to diversify
investments, which results from the retention of Plan Shares or Unawarded Shares. 

  

	8.7	The Trustees are not required to interfere in the management or conduct of the business of the Company regardless of the size of the Trustees’ holding of Shares,
and will not be obliged to seek information about the affairs of the Company and may leave the conduct of the Company’s business wholly to the directors or management of the Company. 

 

 6 

	8.8	The Trustees may delegate powers, duties or discretions to any persons and on any terms. No delegation made under this Clause shall divest the Trustees of their
responsibilities under this Deed or under the Schedule. 

 The Trustees may allow any Shares to be registered in
the name of an appointed nominee provided that such Shares shall be registered in a designated account. Such registration shall not divest the Trustees of their responsibilities under this Deed or the Schedule. 

The Trustees may at any time, and shall if the Participating Companies so direct, revoke any delegation made under this Clause or require
any Plan assets held by another person to be returned to the Trustees, or both. 
  

	9.	LOANS TO TRUSTEES 

 The
Trustees shall have the power to borrow money for the purpose of: 
  

	 	(a)	acquiring Shares; and 

  

	 	(b)	paying any other expenses properly incurred by the Trustees in administering the Plan. 

 

	10.	SHARES FROM QUALIFYING SHARE OWNERSHIP TRUSTS 

Where Shares are transferred to the Trustees in accordance with paragraph 78 of the Schedule, they shall award such Shares only as Free
Shares and Matching Shares, and in priority to other available Shares. 
  

	11.	TRUSTEES’ OBLIGATIONS UNDER THE PLAN 

Notice of Award of Free Shares and Matching Shares 
  

	11.1	As soon as practicable after Free Shares and Matching Shares have been awarded to a Participant, the Trustees shall give the Participant a notice stating:

  

	 	(a)	the number and description of those Shares; 

  

	 	(b)	their Initial Market Value on the date of Award; and 

  

	 	(c)	the Holding Period applicable to them. 

Notice of Award of Partnership Shares 
  

 7 

	11.2	As soon as practicable after any Partnership Shares have been acquired for a Participant and at least once in every six months, the Trustees shall give the Participant
a notice stating: 

  

	 	(a)	the number and description of those Shares; 

  

	 	(b)	the amount of money applied by the Trustees in acquiring those Shares on behalf of the Participant; and 

 

	 	(c)	the Market Value at the Acquisition Date. 

Notice of acquisition of Dividend Shares 
  

	11.3	As soon as practicable after Dividend Shares have been acquired on behalf of a Participant, the Trustees shall give the Participant a notice stating:

  

	 	(a)	the number and description of those Shares; 

  

	 	(b)	their Market Value on the Acquisition Date; 

  

	 	(c)	the Holding Period applicable to them; and 

  

	 	(d)	any amount not reinvested and carried forward for acquisition of further Dividend Shares. 

Notice of any foreign tax deducted before dividend paid 
  

	11.4	Where any foreign cash dividend is received in respect of Plan Shares held on behalf of a Participant, the Trustees shall give the Participant notice of the amount of
any foreign tax deducted from the dividend before it was paid. 

 Restrictions during the Holding Period 

 

	11.5	During the Holding Period the Trustees shall not dispose of any Free Shares, Matching Shares or Dividend Shares (whether by transfer to the employee or otherwise)
except as allowed by the following paragraphs of the Schedule: 

  

	 	(a)	paragraph 37 (power of Trustees to accept general offers); 

  

	 	(b)	paragraph 77 (power of Trustees to raise funds to subscribe for rights issue); 

 

	 	(c)	paragraph 79 (meeting PAYE obligations); and 

  

 8 

	 	(d)	paragraph 90(5) (termination of plan: early removal of shares with participant’s consent). 

PAYE Liability etc. 
  

	11.6	The Trustees may dispose of a Participant’s Shares or accept a sum from the Participant in order to meet any PAYE liability in the circumstances provided in
paragraph 79 of the Schedule (PAYE: shares ceasing to be subject to the plan) and any NICs liability. 

 The
Trustees shall maintain the records necessary to enable them to carry out their PAYE and NICs obligations, and the PAYE and NICs obligations of the employer company so far as they relate to the Plan. 

Where the Participant becomes liable to income tax under ITEPA 2003 or Chapters 3 or 4 of Part 4 of the Income Tax (Trading and Other
Income) Act 2005 (dividends etc), the Trustees shall inform the Participant of any facts which are relevant to determining that liability. 

Money’s worth received by Trustees 
  

	11.7	The Trustees shall pay over to the Participant as soon as is practicable, any money or money’s worth received by them in respect of or by reference to any Shares,
other than new shares within paragraph 87 of the Schedule (company reconstructions). 

 This is subject to:

  

	 	(a)	the provisions of paragraphs 62 to 69 of the Schedule (dividend reinvestment); 

 

	 	(b)	the Trustees obligations under sections 510 to 514 of ITEPA 2003 (PAYE: shares ceasing to be subject to the plan; capital receipts); and 

 

	 	(c)	the Trustees’ PAYE obligations. 

General offers 
  

	11.8	If any offer, compromise, arrangement or scheme is made which affects the Free Shares or Matching Shares the Trustees shall notify Participants. Each Participant may
direct how the Trustees shall act in relation to that Participant’s Plan Shares. In the absence of any direction, the Trustees shall take no action. 

Duty to monitor Participants in connected schemes 
  

 9 

	11.9	The Trustees shall maintain records of Participants who have participated in one or more other plans established by the Company or a Connected Company and approved
under the Schedule. 

 Electronic notices 
  

	11.10	If the Trustees are required to provide any notice to the Participants, including under this Clause 11, it shall be sufficient that the Trustees arrange for the
updating of the internet portal through which the Participants can access details of their participation in the Plan. 

  

	12.	POWER OF TRUSTEES TO RAISE FUNDS TO SUBSCRIBE FOR A RIGHTS ISSUE 

If instructed by Participants in respect of their Plan Shares the Trustees may dispose of some of the rights under a rights issue arising
from those Shares to obtain enough funds to exercise the remaining rights. 
 The rights referred to are the rights to buy
additional shares or rights in the same company. 
  

	13.	POWER TO AGREE MARKET VALUE OF SHARES 

Where the Market Value of Shares is to be determined for the purposes of the Schedule, the Trustees may agree with HMRC that it shall be
determined by reference to such date or dates, or to an average of the values on a number of dates, as specified in the agreement. 
  

	14.	PERSONAL INTEREST OF TRUSTEES 

Trustees, and directors, officers or employees of a corporate Trustee, shall not be liable to account for any benefit accruing to them by
virtue of their: 
  

	 	(a)	participation in the Plan as a Qualifying Employee; 

  

	 	(b)	ownership, in a beneficial or fiduciary capacity, of any shares or other securities in any Participating Company; 

 

	 	(c)	being a director or employee of any Participating Company, being a creditor, or being in any other contractual relationship with any such company.

  

	15.	TRUSTEES’ MEETINGS 

  

 10 

 If and so long as there is more than one Trustee, the Trustees shall hold meetings as often
as is necessary for the administration of the Plan. There shall be at least two Trustees present at a meeting and the Trustees shall give due notice to all the Trustees of such a meeting. Decisions made at such a meeting by a majority of the
Trustees present shall be binding on all the Trustees. A written resolution signed by all the Trustees shall have the same effect as a resolution passed at a meeting. 
  

	16.	SUBSIDIARY COMPANIES 

 Any
Subsidiary (in addition to those Subsidiaries which are parties to this Deed) may with the agreement of the Company become a party to this Deed and the Plan by executing a deed of adherence agreeing to be bound by the Deed and Rules. 

Any company which ceases to be a Subsidiary shall cease to be a Participating Company. 

 

	17.	EXPENSES OF PLAN 

 The
Participating Companies shall meet the costs of the preparation and administration of this Plan. 
  

	18.	TRUSTEES’ LIABILITY AND INDEMNITY 

  

	18.1	The Participating Companies shall jointly and severally indemnify each of the Trustees, and the directors, officers and employees of a corporate Trustee, against any
expenses and liabilities which are incurred through acting as a Trustee of the Plan and which cannot be recovered from the Trust Fund. This does not apply to expenses and liabilities which are incurred through fraud, wilful wrongdoing or negligence
or are covered by insurance under Clause 18.3 below. 

  

	18.2	No Trustee shall be personally liable for any breach of trust (other than through fraud, wilful wrongdoing or negligence) over and above the extent to which the
Trustee, and the directors, officers and employees of a corporate Trustee, are indemnified by the Participating Companies in accordance with Clause 18.1 above. 

 

	18.3	A non-remunerated Trustee may insure the Plan against any loss caused by him or any of his employees, officers, agents or delegates. A non-remunerated Trustee may also
insure himself and any of these persons against liability for breach of trust not involving fraud or wilful wrongdoing or negligence of the Trustee or the person concerned. 

 

	18.4	 A Trustee who carries on a profession or business may charge for services rendered on a basis agreed with the Participating Companies. A firm or
company in which a Trustee is interested or by which he is employed may 

  

 11 

	 	 
also charge for services rendered on this basis and may, unless otherwise agreed, act in accordance with its general terms and conditions from time to time in force. 

 

	19.	COVENANT BY THE PARTICIPATING COMPANIES 

The Participating Companies hereby jointly and severally covenant with the Trustees that they shall pay to the Trustees all sums which
they are required to pay under the Rules and shall at all times comply with the Rules. 
  

	20.	ACCEPTANCE OF GIFTS 

 The
Trustees may accept gifts of Shares and other assets which shall be held upon the trusts declared by Clause 3(1) or 3(2) as the case may be. 
  

	21.	TRUSTEES’ LIEN 

 The
Trustees’ lien over the Trust Fund in respect of liabilities incurred by them in the performance of their duties (including the repayment of borrowed money and tax liabilities) shall be enforceable subject to the following restrictions:

  

	 	(a)	the Trustees shall not be entitled to resort to Partnership Share Money for the satisfaction of any of their liabilities; and 

 

	 	(b)	the Trustees shall not be entitled to resort to Plan Shares for the satisfaction of their liabilities except to the extent that this is permitted by the Plan.

  

	22.	AMENDMENTS TO THE PLAN 

The Company may, with the Trustees’ written consent, from time to time amend the Plan provided that: 

 

	 	(a)	no amendment which would adversely prejudice to a material extent the rights attaching to any Plan Shares awarded to or acquired by Participants may be made nor may any
alteration be made giving to Participating Companies a beneficial interest in Plan Shares, and 

  

	 	(b)	if the Plan is approved by HMRC at the time of an amendment or addition, any amendment or addition to a “key feature” (within the meaning of paragraph
84(1)(b) of the Schedule) of the Plan shall not have effect unless and until the written approval of HMRC has been obtained. 

  

	23.	TERMINATION OF THE PLAN 

  

 12 

	23.1	The Plan shall terminate: 

  

	 	(a)	in accordance with a Plan Termination Notice issued by the Company to the Trustees under paragraph 89 of the Schedule; or 

 

	 	(b)	if earlier, on the expiry of the Trust Period. 

  

	23.2	The Company shall immediately upon executing a Plan Termination Notice provide a copy of the notice to the Trustees, HMRC and each individual for whom the Trustees hold
Plan Shares or who has entered into a Partnership Share Agreement which was in force immediately before the Plan Termination Notice was issued. 

  

	23.3	Upon the issue of a Plan Termination Notice or upon the expiry of the Trust Period paragraph 90 of the Schedule shall have effect. 

 

	23.4	Any Shares or other assets which remain undisposed of after the requirements of paragraph 90 of the Schedule have been complied with shall be held by the Trustees upon
trust to pay or apply them to or for the benefit of the Participating Companies as at the termination date in such proportion, having regard to their respective contributions, as the Trustees shall in their absolute discretion think appropriate.

  

	23.5	No further Awards will be made after 1 October 2020 unless shareholder approval is obtained to offer Awards after that date. 

 

	24.	NOTICES 

 Subject to
Clause 11.10, each advice, request, or other communication to be given or made under the Plan shall be in writing and either (i) delivered or sent to the relevant party at its address as notified to the other party or (ii) provided to the
relevant party in an electronic format. 
  

	25.	PROPER LAW 

 This Deed and
the Rules of the Plan shall be governed by and construed in accordance with the laws of England and Wales. 
  

 13 

 IN WITNESS whereof this deed has been executed and delivered the day and year first
above written. 
  

					
		 	Executed as a Deed on behalf of
		 	BOTTLING GREAT BRITAIN LIMITED by:
			
		 		  	Director
                                
			
		 		  	Director/Secretary
                                
		
		 	Executed as a Deed on behalf of
		 	COCA-COLA ENTERPRISES EUROPE LIMITED by:
			
		 		  	Director
                                
			
		 		  	Director/Secretary
                                
		
		 	Executed as a Deed on behalf of
		 	COCA-COLA ENTERPRISES LIMITED by:
			
		 		  	Director
                                
			
		 		  	Director/Secretary
                                
		
		 	The Common Seal of
		 	 CAPITA IRG TRUSTEES LIMITED

was hereunto affixed in the presence of:

			
		 		  	Director
                                
			
		 		  	Authorised Signatory
                                

 

 14 

 RULES OF THE COCA-COLA ENTERPRISES UK EMPLOYEE 

SHARE PLAN (Effective 2010) 
  

			
		
	 1.
	 	DEFINITIONS
		
	 2.
	 	PURPOSE OF THE PLAN
		
	 3.
	 	ELIGIBILITY OF INDIVIDUALS
		
	 4.
	 	PARTICIPATION ON SAME TERMS
		
	 5.
	 	FREE SHARES (PART A)
		
	 6.
	 	PARTNERSHIP SHARES (PART B)
		
	 7.
	 	MATCHING SHARES (PART C)
		
	 8.
	 	DIVIDEND SHARES (PART D)
		
	 9.
	 	ACQUISITION OF SHARES
		
	 10.
	 	COMPANY RECONSTRUCTIONS
		
	 11.
	 	RIGHTS ISSUES
		
	 12.
	 	LEAVERS
	
	 APPENDIX A. FREE SHARE AGREEMENT

	
	 APPENDIX B. PARTNERSHIP SHARE AGREEMENT

 

 15 

 RULES OF THE COCA-COLA ENTERPRISES UK EMPLOYEE SHARE 

PLAN (Effective 2010) 
  

	1.	DEFINITIONS 

  

	1.1	The following words and expressions have the following meanings: 

  

			
		
	“Accumulation Period”	  	in relation to Partnership Shares, the period during which the Trustees accumulate a Qualifying Employee’s Partnership Share Money before acquiring Partnership Shares or
repaying it to the employee
		
	“Acquisition Date”	  	(a) in relation to Partnership Shares, where there is no Accumulation Period, the meaning given by paragraph 50(4) of the Schedule
		
		  	(b) in relation to Partnership Shares, where there is an Accumulation Period, the meaning given by paragraph 52(5) of the Schedule; and
		
		  	(c) in relation to Dividend Shares, the meaning given by paragraph 66(4) of the Schedule
		
	“Associated Company”	  	the same meaning as in paragraph 94 of the Schedule
		
	“Award Date”	  	in relation to Free Shares or Matching Shares, the date on which such Shares are awarded
		
	“Award”	  	(a) in relation to Free Shares and Matching Shares, the appropriation of Free Shares and Matching Shares in accordance with the Plan; and
		
		  	(b) in relation to Partnership Shares, the acquisition of Partnership Shares on behalf of Qualifying Employees in accordance with the Plan
		
	“Close Company”	  	the same meaning as in section 989 of the Income Tax Act 2007 as extended by paragraph 20(4) of the Schedule
		
	“Company”	  	Bottling Great Britain Limited

  

 16 

			
		
	“Connected Company”	  	the same meaning as in paragraph 18(3) of the Schedule
		
	“Control”	  	the same meaning as in section 719 of ITEPA 2003
		
	“Dealing Day”	  	a day on which the New York Stock Exchange is open for the transaction of business
		
	“Deed”	  	the trust deed constituting the Plan with any subsequent amendment thereto
		
	“Dividend Shares”	  	Shares acquired on behalf of a Participant from reinvestment of dividends under Part D of the Plan and which are subject to the Plan
		
	“Free Share Agreement”	  	an agreement in the terms set out in Appendix A
		
	“Free Shares”	  	Shares awarded under Part A of the Plan which are subject to the Plan
		
	“Holding Period”	  	(a) in relation to Free Shares, the period specified by the Company as mentioned in Rule 5.11;
		
		  	(b) in relation to Matching Shares, the period specified by the Company as mentioned in Rule 7.5; and
		
		  	(c) in relation to Dividend Shares, the period of 3 years from the Acquisition Date
		
	“HMRC”	  	HM Revenue and Customs
		
	“ICTA 1988”	  	the Income and Corporation Taxes Act 1988
		
	“Initial Market Value”	  	the Market Value of a Share on an Award Date. Where the Share is subject to a restriction or risk of forfeiture, the market value shall be determined without reference to that
restriction or risk
		
	“ITEPA 2003”	  	the Income Tax (Earnings and Pensions) Act 2003

  

 17 

			
		
	 “Market Value”
	  	in relation to Shares to be awarded under the Plan on any date
		
		  	(a) the closing price of a Share on the New York Stock Exchange Composite Transactions Index; or
		
		  	(b) on any day the Market Value of a Share determined in accordance with the provisions of Part VIII of the Taxation of Chargeable Gains Act 1992 and agreed for the purposes of the
Plan with HMRC’s Shares and Assets Valuation on or before that day
		
	 “Matching Shares”
	  	Shares awarded under Part C of the Plan and which are subject to the Plan
		
	 “Material Interest”
	  	the same meaning as in paragraph 20 of the Schedule
		
	 “NICs”
	  	National Insurance Contributions
		
	 “Parent Company”
	  	Coca-Cola Enterprises, Inc.
		
	 “Participant”
	  	an individual who has received under the Plan an Award of Free Shares, Matching Shares or Partnership Shares, or on whose behalf Dividend Shares have been acquired
		
	 “Participating Company”
	  	the Company and such of its Subsidiaries as are parties to this Deed or have executed deeds of adherence to the Plan under Clause 16 of the Trust Deed
		
	 “Partnership Share Agreement”
	  	an agreement in the terms set out in Appendix B
		
	 “Partnership Shares”
	  	Shares awarded under Part B of the Plan and which are subject to the Plan
		
	 “Partnership Share Money”
	  	money deducted from a Qualifying Employee’s Salary pursuant to a Partnership Share Agreement and held by the Trustees to acquire Partnership Shares or to be returned to such a
person

  

 18 

			
		
	“Performance Allowances”	  	the criteria for an Award of Free Shares where:
		
		  	(a) whether Shares are awarded; or
		
		  	(b) the number or value of Shares awarded is conditional on performance targets being met
		
	“Plan”	  	Coca-Cola Enterprises UK Employee Share Plan (Effective 2010)
		
	“Plan Shares”	  	(a) Free Shares, Matching Shares or Partnership Shares awarded to Participants;
		
		  	(b) Dividend Shares acquired on behalf of Participants; and
		
		  	(c) shares in relation to which paragraph 87(7) (company reconstructions: new shares) of the Schedule applies that remain subject to the Plan
		
	“Plan Termination Notice”	  	a notice issued under paragraph 89 of the Schedule
		
	“Qualifying Corporate Bond”	  	the same meaning as in section 117 of the Taxation of Chargeable Gains Act 1992
		
	“Qualifying Employee”	  	an employee who must be invited to participate in an award in accordance with Rule 3.5 and any employee who the Company has invited in accordance with Rule 3.6
		
	“Qualifying Period”	  	a period as the board of directors of the Company shall in their absolute discretion so decide being:
		
		  	(a) in the case of Free Shares a period not exceeding 18 months before the Award is made;
		
		  	(b) in the case of Partnership Shares and Matching Shares where there is an Accumulation Period a period not

 

 19 

			
		
		  	exceeding six months before the start of the Accumulation Period; and
		
		  	(c) in the case of Partnership Shares and Matching Shares where there is no Accumulation Period a period not exceeding 18 months before the deduction of Partnership Share Money
relating to the Award
		
	 “Redundancy”
	  	the same meaning as in the Employment Rights Act 1996
		
	 “Relevant Employment”
	  	employment by the Company or any Associated Company
		
	 “Retirement Age”
	  	50
		
	 “Rules”
	  	these Rules together with any amendments thereto effected in accordance with Clause 22 of the Deed
		
	 “Salary”
	  	the same meaning as in paragraph 43(4) of the Schedule
		
	 “Schedule”
	  	Schedule 2 to ITEPA 2003
		
	 “Shares”
	  	Shares of common stock in the capital of the Parent Company which comply with the conditions set out in Part 4 of the Schedule
		
	 “Subsidiary”
	  	any company which is for the time being under the Control of the Company
		
	 “Tax Year”
	  	a year beginning on 6 April and ending on the following 5 April
		
	 “Trustees”
	  	the trustees or trustee for the time being of the Plan or any subsequent trustee or trustees as provided for in accordance with Clause 7 of the Deed
		
	 “Trust Fund”
	  	all assets transferred to the Trustees to be held on the terms of the Deed and the assets from time to time representing such assets, including any accumulations of
income

  

 20 

			
	 “Trust Period”
	  	the period of 125 years beginning with the date of the Deed

  

	1.2	References to any Act, or Part, Chapter, or section shall include any statutory modification, amendment or re-enactment of that Act, for the time being in force.

  

	1.3	Words of the feminine gender shall include the masculine and vice versa and words in the singular shall include the plural and vice versa unless, in either case, the
context otherwise requires or it is otherwise stated. 

  

	2.	PURPOSE OF THE PLAN 

 The purpose of the
Plan is to enable employees of Participating Companies to acquire Shares in the Parent Company which give them a continuing stake in that Parent Company. 
  

	3.	ELIGIBILITY OF INDIVIDUALS 

  

	3.1	Subject to Rule 3.3, individuals are eligible to participate in an Award only if: 

 

	 	(a)	they are employees of a Participating Company; 

  

	 	(b)	they have been such employees at all times during any Qualifying Period; 

  

	 	(c)	they are eligible on the date(s) set out in paragraph 14 of the Schedule; and 

 

	 	(d)	they do not fail to be eligible under either or both Rule 3.2 or Rule 3.3 

  

	3.2	Individuals are not eligible to participate in an Award of Shares if they have, or within the preceding twelve months have had, a Material Interest in:

 (a) a Close Company whose Shares may be appropriated or acquired under the Plan; or 

(b) a company which has Control of such a company or is a member of a consortium which owns such a company. 

 

	3.3	 Individuals are not eligible to participate in an Award of Free Shares, Partnership Shares or Matching Shares in any Tax Year if in that Tax Year they
have received (or are to receive at the same time) an Award under another plan established by the Company or a Connected Company 

 

 21 

	 	 
and approved under the Schedule, or if they would have received such an Award but for their failure to meet a performance target (see Rule 5.5). 

 

	3.4	Notwithstanding any provision of any other of these Rules whatsoever: 

  

	 	(a)	the Plan shall not form part of any contract of employment between the Company, the Parent Company, a Subsidiary or any Associated Company and any Participant and it
shall not confer on any Participant any legal or equitable rights (other than those constituted by the Awards themselves) whatsoever against the Company, the Parent Company, a Subsidiary or an Associated Company directly or indirectly or give rise
to any cause of action at law or in equity against the Company, the Parent Company, a Subsidiary or any Associated Company; 

  

	 	(b)	Participation in an Award is a matter entirely separate from any pension right or entitlement a Participant may have and from his terms or conditions of employment and
participation in the Plan shall in no respect whatever affect his pension rights or entitlements or terms or conditions of employment and in particular (but without limiting the generality of the foregoing) any Participant who ceases to be an
employee of any Company, Subsidiary or Associated Company shall not be entitled to any compensation for any loss of any right or benefit or prospective right or benefit under the Plan which he might otherwise have enjoyed whether such compensation
is claimed by way of damages for wrongful dismissal or other breach of contract or by way of compensation for loss of office or otherwise howsoever and notwithstanding that he may have been dismissed wrongfully or unfairly (within the meaning of the
Employment Rights Act 1996). 

 Employees who must be invited to participate in Awards 

 

	3.6	Individuals shall be eligible to receive an Award of shares under the Plan if they meet the requirements in Rule 3.1 and are UK resident taxpayers.

 In this case they shall be invited to participate in any Awards of Free Shares, Partnership Shares or Matching
Shares, and acquisitions of Dividend Shares, as are set out in the Plan. 
 Employees who may be invited to participate in Awards

  

	3.7	The Company may also invite, at its discretion, any employee who meets the requirements in Rule 3.1 to participate in any Award of Free Shares, Partnership Shares or
Matching Shares, and acquisitions of Dividend Shares, as are set out in the Plan. 

  

 22 

	4.	PARTICIPATION ON SAME TERMS 

  

	4.1	Every Qualifying Employee shall be invited to participate in an Award on the same terms. All who do participate in an Award shall do so on the same terms.

  

	4.2	The Company may make an Award of Free Shares to Qualifying Employees by reference to their remuneration, length of service or hours worked. 

 

	4.3	The Company may make an Award of Free Shares to Qualifying Employees by reference to their performance as set out in Rule 5.5. 

 

	4.4	The Participating Companies shall make contributions to the Trustees to finance any purchase by the Trustees of Free and/or Matching Shares for award on an Award Date.

 PART A 
  

	5.	FREE SHARES 

  

	5.1	Every Qualifying Employee shall enter into a Free Share Agreement with the Company. The Free Share Agreement may be entered into using an electronic acceptance
procedure authorised by the Company. 

  

	5.2	The Trustees, acting with the prior consent of the Company, may from time to time award Free Shares. 

 

	5.3	The number of Free Shares to be awarded by the Trustees to each Qualifying Employee on an Award Date shall be determined by the Company in accordance with this Rule.

 Maximum annual Award 
  

	5.4	The Initial Market Value of the Shares awarded to a Qualifying Employee in any Tax Year shall not exceed £3,000 (or such higher amount as may be permitted under
paragraph 35 of the Schedule). 

 Allocation of Free Shares by reference to performance 

 

	5.5	The Company may stipulate that the number of Free Shares (if any) to be awarded to each Qualifying Employee on a given Award Date shall be determined by reference to
Performance Allowances. 

  

	5.6	If Performance Allowances are used, they shall apply to all Qualifying Employees. 

 

 23 

	 	(a)	Performance Allowances shall be determined by reference to such fair and objective criteria (performance targets) relating to business results as the Company shall
determine over such period as the Company shall specify; 

  

	 	(b)	performance targets must be set for performance units of one or more employees; and 

 

	 	(c)	for the purposes of an Award of Free Shares an employee must not be a member of more than one performance unit. 

 

	5.7	Where the Company decides to use Performance Allowances it shall, as soon as reasonably practicable: 

 

	 	(a)	notify each employee participating in the Award of the performance targets and measures which, under the Plan, shall be used to determine the number or value of Free
Shares awarded to him; and 

  

	 	(b)	notify all Qualifying Employees of any Participating Company, in general terms, of the performance targets and measures to be used to determine the number or value of
Free Shares to be awarded to each Participant in the Award. 

  

	5.8	The Company shall determine the number of Free Shares (if any) to be awarded to each Qualifying Employee by reference to performance using method 1 or method 2. The
same method shall be used for all Qualifying Employees for each Award. 

 Performance Allowances: method 1 

 

	5.9	By this method: 

  

	 	(a)	at least 20% of Free Shares awarded in any performance period shall be awarded without reference to performance; 

 

	 	(b)	the remaining Free Shares shall be awarded by reference to performance; and 

 

	 	(c)	the highest Award made to an individual by reference to performance in any period shall be no more than four times the highest Award to an individual without reference
to performance. 

 If this method is used: 

 

	 	•	 	 the Free Shares awarded without reference to performance (paragraph (a) above) shall be awarded on the same terms mentioned in Rule 4; and

  

 24 

	 	•	 	 the Free Shares awarded by reference to performance (paragraph (b) above) need not be allocated on the same terms mentioned in Rule 4.

 Performance Allowances: method 2 
  

	5.10	By this method: 

  

	 	(a)	some or all Free Shares shall be awarded by reference to performance; 

  

	 	(b)	the Award of Free Shares to Qualifying Employees who are members of the same performance unit shall be made on the same terms, as mentioned in Rule 4; and

  

	 	(c)	Free Shares awarded for each performance unit shall be treated as separate Awards. 

Holding Period for Free Shares 
  

	5.11	The Company shall, in relation to each Award Date, specify a Holding Period throughout which a Participant shall be bound by the terms of the Free Share Agreement.

  

	5.12	The Holding Period shall, in relation to each Award, be a specified period of not less than 3 years nor more than 5 years, beginning with the Award Date and shall be
the same for all Participants who receive an Award at the same time. The Holding Period shall not be increased in respect of Free Shares already awarded under the Plan. 

 

	5.13	A Participant may during the Holding Period direct the Trustees: 

  

	 	(a)	to accept an offer for any of their Free Shares if the acceptance or agreement shall result in a new holding being equated with those Shares for the purposes of capital
gains tax; or 

  

	 	(b)	to accept an offer of a Qualifying Corporate Bond (whether alone or with other assets or cash or both) for their Free Shares if the offer forms part of such a general
offer as is mentioned in paragraph (c) below; or 

  

	 	(c)	to accept an offer of cash, with or without other assets, for their Free Shares if the offer forms part of a general offer which is made to holders of shares of the
same class as their Shares, or to holders of shares in the same company and which is made in the first instance on a condition such that if it is satisfied the person making the offer shall have Control of that company; or 

 

 25 

	 	(d)	to agree to a transaction affecting their Free Shares or such of them as are of a particular class, if the transaction would be entered into pursuant to a compromise,
arrangement or scheme applicable to or affecting: 

  

	 	(i)	all of the ordinary share capital of the Parent Company or, as the case may be, all the shares of the class in question; or 

 

	 	(ii)	all the shares, or all the shares of the class in question, which are held by a class of shareholders identified otherwise than by reference to their employment or
their participation in a plan approved under the Schedule. 

  

	5.14	The performance targets and measures referred to in this Rule 5 may be relaxed, waived, or amended if an event occurs which causes the Company to consider that any of
the existing targets or measures have become unfair or impractical. Provided that any such amendment shall be fair and reasonable and shall not be any more difficult or any less difficult to satisfy than the original target or measure.

 PART B 
  

	6.	PARTNERSHIP SHARES 

  

	6.1	The Company may at any time invite every Qualifying Employee to enter into a Partnership Share Agreement. The Partnership Share Agreement may be entered into using an
electronic acceptance procedure authorised by the Company. 

  

	6.2	Partnership Shares shall not be subject to any provision under which they may be forfeit. 

Maximum amount of deductions 
  

	6.3	The amount of Partnership Share Money deducted from an employee’s Salary shall not exceed £1,500 in any Tax Year (or such other amount or period as may be
permitted from time to time under paragraph 46(1) of the Schedule). If the Salary is not paid monthly, the applicable limit shall be calculated proportionately. 

 

	6.4	The amount of Partnership Share Money deducted in a Tax Year must not exceed 10% of the employee’s Salary for that Tax Year. 

 

	6.5	Any amount deducted in excess of that allowed by Rule 6.3 or Rule 6.4 shall be paid over to the employee, subject to both deduction of income tax under PAYE and NICs,
as soon as practicable. 

  

 26 

 Minimum amount of deductions 

 

	6.6	The minimum amount to be deducted under the Partnership Share Agreement in any month shall be the same in relation to all Partnership Share Agreements entered into in
response to invitations issued on the same occasion. It shall not be greater than £10. 

 Notice of possible effect of
deductions on benefit entitlement 
  

	6.7	Every Partnership Share Agreement shall contain a notice under paragraph 48 of the Schedule. 

Restriction imposed on number of Shares awarded 
  

	6.8	The Company may specify the maximum number of Shares to be included in an Award of Partnership Shares. 

 

	6.9	The Partnership Share Agreement shall contain an undertaking by the Company to notify each Qualifying Employee of any restriction on the number of Shares to be included
in an Award. 

  

	6.10	The notification in Rule 6.9 above shall be given: 

  

	 	(a)	if there is no Accumulation Period, before the deduction of the Partnership Share Money relating to the Award; and 

 

	 	(b)	if there is an Accumulation Period, before the beginning of the Accumulation Period relating to the Award. 

Plan with no Accumulation Period 
  

	6.11	The Trustees shall acquire Shares on behalf of the Qualifying Employee using the Partnership Share Money. They shall acquire the Shares on the Acquisition Date. The
number of Shares awarded to each employee shall be determined in accordance with the Market Value of the Shares on that date. 

Plan with Accumulation Period 
  

	6.12	If there is an Accumulation Period, the Trustees shall acquire Shares on behalf of the Qualifying Employee, on the Acquisition Date, using the Partnership Share Money.
Any Accumulation Period must not exceed 12 months and must be the same for all Participants in a particular Award. 

  

	6.13	The number of Shares acquired on behalf of each Participant shall be determined by reference to the lower of: 

 

 27 

	 	(a)	the Market Value of the Shares at the beginning of the Accumulation Period; and 

 

	 	(b)	the Market Value of the Shares on the Acquisition Date. 

  

	6.14	If a transaction occurs during an Accumulation Period which results in a new holding of Shares being equated for the purposes of capital gains tax with any of the
Shares to be acquired under the Partnership Share Agreement, the employee may agree that the Partnership Share Agreement shall have effect after the time of that transaction as if it were an agreement for the purchase of shares comprised in the new
holding. 

 Surplus Partnership Share Money 

 

	6.15	Any surplus Partnership Share Money remaining after the acquisition of Shares by the Trustees: 

 

	 	(a)	may, with the agreement of the Participant, be carried forward to the next Accumulation Period or the next deduction date; and 

 

	 	(b)	in any other case, shall be paid over to the Participant, subject to both deduction of income tax under PAYE and NICs, as soon as practicable. 

Scaling down 
  

	6.16	If the Company receives applications for Partnership Shares exceeding the Award maximum determined in accordance with Rule 6.8 then the following steps shall be
taken in sequence until the excess is eliminated: 

  

	 	Step	1. the excess of the monthly deduction chosen by each applicant over £10 shall be reduced pro rata; 

 

	 	Step	2. all monthly deductions shall be reduced to £10; 

  

	 	Step	3. applications shall be selected by lot, each based on a monthly deduction of £10. 

Each application shall be deemed to have been modified or withdrawn in accordance with the foregoing provisions, and each employee who has
applied for Partnership Shares shall be notified of the change. 
 Withdrawal from Partnership Share Agreement 

 

	6.17	 An employee may withdraw from a Partnership Share Agreement at any time by notice in writing to the Company. Unless a later date is specified in the
notice, such a notice shall take effect 30 days after the Company receives it. Any Partnership Share Money then held on behalf of an 

 

 28 

	 	 
employee shall be paid over to that employee as soon as practicable. This payment shall be subject to income tax under PAYE and NICs. 

Repayment of Partnership Share Money on withdrawal of approval or Termination 

 

	6.18	If approval to the Plan is withdrawn or a Plan Termination Notice is issued in respect of the Plan, any Partnership Share Money held on behalf of employees shall be
repaid to them as soon as practicable, subject to deduction of income tax under PAYE, and NICs. 

 PART C 

  

	7.	MATCHING SHARES 

  

	7.1	The Partnership Share Agreement sets out the basis on which a Participant is entitled to Matching Shares in accordance with this Part of the Rules.

 General requirements for Matching Shares 

 

	7.2	Matching Shares shall: 

  

	 	(a)	be Shares of the same class and carrying the same rights as the Partnership Shares to which they relate; 

 

	 	(b)	subject to Rule 7.4, be awarded on the same day as the Partnership Shares to which they relate are acquired on behalf of the Participant; and 

 

	 	(c)	be awarded to all Participants on exactly the same basis. 

Ratio of Matching Shares to Partnership Shares 
  

	7.3	The Partnership Share Agreement shall specify the ratio of Matching Shares to Partnership Shares for the time being offered by the Company and that ratio shall not
exceed 2:1 (or such higher ratio as may be permitted under paragraph 60(2) of the Schedule). The Company may vary the ratio before Partnership Shares are acquired. Employees shall be notified of the terms of any such variation before the Partnership
Shares are awarded under the Partnership Share Agreement. 

  

	7.4	If the Partnership Shares on the day referred to in Rule 7.2(b) above are not sufficient to produce a Matching Share, the match shall be made when sufficient
Partnership Shares have been acquired to allow at least one Matching Share to be appropriated. 

 Holding Period for Matching
Shares 
  

 29 

	7.5	The Company shall, in relation to each Award Date, specify a Holding Period throughout which a Participant shall be bound by the terms of the Partnership Share
Agreement. 

  

	7.6	The Holding Period shall, in relation to each Award, be a specified period of not less than 3 years nor more than 5 years, beginning with the Award Date and shall be
the same for all Participants who receive an Award at the same time. The Holding Period shall not be increased in respect of Matching Shares awarded under the Plan. 

 

	7.7	A Participant may during the Holding Period direct the Trustees: 

  

	 	(a)	to accept an offer for any of their Matching Shares if the acceptance or agreement shall result in a new holding being equated with those original Shares for the
purposes of capital gains tax; or 

  

	 	(b)	to accept an offer of a Qualifying Corporate Bond (whether alone or with other assets or cash or both) for their Matching Shares if the offer forms part of such a
general offer as is mentioned in paragraph (c) below; or 

  

	 	(c)	to accept an offer of cash, with or without other assets, for their Matching Shares if the offer forms part of a general offer which is made to holders of shares of the
same class as their Shares or to the holders of shares in the same company, and which is made in the first instance on a condition such that if it is satisfied the person making the offer shall have Control of that company; or

  

	 	(d)	to agree to a transaction affecting their Matching Shares or such of them as are of a particular class, if the transaction would be entered into pursuant to a
compromise, arrangement or scheme applicable to or affecting; 

  

	 	(i)	all of the ordinary share capital of the Parent Company or, as the case may be, all the shares of the class in question; or 

 

	 	(ii)	all the shares, or all the shares of the class in question, which are held by a class of shareholders identified otherwise than by reference to their employment or
their participation in a plan approved under the Schedule. 

 PART D 

 

	8.	DIVIDEND SHARES 

  

 30 

 Reinvestment of cash dividends 

 

	8.1	The Free Share Agreement or Partnership Share Agreement, as appropriate, shall set out the rights and obligations of Participants receiving Dividend Shares under the
Plan. 

  

	8.2	The Company may direct that any cash dividend in respect of Plan Shares held on behalf of Participants may be applied in acquiring further Plan Shares on their behalf.

  

	8.3	Dividend Shares shall be Shares: 

  

	 	(a)	of the same class and carrying the same rights as the Shares in respect of which the dividend is paid; and 

 

	 	(b)	which are not subject to any provision for forfeiture. 

  

	8.4	The Company may decide to direct the Trustees to: 

  

	 	(a)	apply all Participants’ dividends, up to the limit specified in Rule 8.6, to acquire Dividend Shares; 

 

	 	(b)	to pay all dividends in cash to all Participants; or 

  

	 	(c)	to offer Participants the choice of either paragraph (a) or (b) above. 

 

	8.5	The Company may revoke any direction for reinvestment of cash dividends. 

  

	8.6	The amount applied by the Trustees in acquiring Dividend Shares shall not exceed £1,500 (or such higher amount as may be permitted under paragraph 64(1) of the
Schedule) in each Tax Year in respect of any Participant. For the purposes of this Rule, the Dividend Shares are those acquired under this Plan and those acquired under any other plan approved under the Schedule. In exercising their powers in
relation to the acquisition of Dividend Shares the Trustees must treat Participants fairly and equally. 

  

	8.7	If the amounts received by the Trustees exceed the limit in Rule 8.6, or are not to be used to acquire Dividend Shares, the balance shall be paid to the participant as
soon as practicable. 

  

	8.8	If dividends are to be reinvested, the Trustees shall apply all the cash dividend to acquire Shares on behalf of the Participant on the Acquisition Date. The number of
Dividend Shares acquired on behalf of each Participant shall be determined by the Market Value of the Shares on the Acquisition Date. 

  

 31 

 Certain amounts not reinvested to be carried forward 

 

	8.9	Subject to Rule 8.7, any amount that is not reinvested: 

  

	 	(a)	because the amount of the cash dividend is insufficient to acquire a Share; or 

 

	 	(b)	because there is an amount remaining after acquiring the Dividend Shares; 

may be retained by the Trustees and carried forward to be added to the amount of the next cash dividend to be reinvested. Any amounts
carried forward must be separately identifiable for the purposes of Rule 8.10. 
  

	8.10	If, during the period of 3 years beginning with the date on which the dividend was paid: 

 

	 	(a)	it is not reinvested; or 

  

	 	(b)	the Participant ceases to be in Relevant Employment; or 

  

	 	(c)	a Plan Termination Notice is issued 

the amount shall be repaid to the Participant as soon as practicable. On making such a payment, the Participant shall be provided with the
information specified in paragraph 80(4) of the Schedule. 
 Holding Period for Dividend Shares 

 

	8.11	The Holding Period shall be a period of 3 years, beginning with the Acquisition Date. 

 

	8.12	A Participant may during the Holding Period direct the Trustees: 

  

	 	(a)	to accept an offer for any of their Dividend Shares if the acceptance or agreement shall result in a new holding being equated with those Shares for the purposes of
capital gains tax; or 

  

	 	(b)	to accept an offer of a Qualifying Corporate Bond (whether alone or with other assets or cash or both) for their Dividend Shares if the offer forms part of such a
general offer as is mentioned in paragraph (c) below; or 

  

	 	(c)	 to accept an offer of cash, with or without other assets, for their Dividend Shares if the offer forms part of a general offer which is made to holders
of shares of the same class as their Shares or to holders of shares in the same company, and which is made in the 

 

 32 

	 	 
first instance on a condition such that if it is satisfied the person making the offer shall have Control of that company; or 

 

	 	(d)	to agree to a transaction affecting their Dividend Shares or such of them as are of a particular class, if the transaction would be entered into pursuant to a
compromise, arrangement or scheme applicable to or affecting: 

  

	 	(i)	all of the ordinary share capital of the Parent Company or, as the case may be, all the shares of the class in question; or 

 

	 	(ii)	all the shares, or all the shares of the class in question, which are held by a class of shareholders identified otherwise than by reference to their employment or
their participation in a plan approved under the Schedule. 

  

	8.13	Where a Participant is charged to tax in the event of their Dividend Shares ceasing to be subject to the Plan, they shall be provided with the information specified in
paragraph 80(4) of the Schedule. 

  

	9.	ACQUISITION OF SHARES 

 All Awards under
the Plan shall be satisfied by existing Shares which are purchased by the Trustees on the open market. The Trustees shall not have the right to subscribe to the Parent Company for newly issued Shares in order to satisfy an Award. 

 

	10.	COMPANY RECONSTRUCTIONS 

  

	10.1	The following provisions of this Rule apply if there occurs in relation to any of a Participant’s Plan Shares (referred to in this Rule as “the Original
Holding”): 

  

	 	(a)	a transaction which results in a new holding (referred to in this Rule as “the New Holding”) being equated with the Original Holding for the purposes of
capital gains tax; or 

  

	 	(b)	a transaction which would have that result but for the fact that what would be the new holding consists of or includes a Qualifying Corporate Bond.

  

	10.2	If an issue of Shares of any of the following description (in respect of which a charge to income tax arises) is made as part of a company reconstruction, those Shares
shall be treated for the purposes of this Rule as not forming part of the New Holding: 

  

 33 

	 	(a)	redeemable shares or securities issued as mentioned in section 209(2)(c) of ICTA 1988; 

 

	 	(b)	share capital issued in circumstances such that section 210(1) of ICTA 1988 applies; or 

 

	 	(c)	share capital to which section 249 of ICTA 1988 applies. 

  

	10.3	In this Rule: 

“Corresponding Shares” in relation to any New Shares, means the Shares in respect of which the New Shares are issued or which
the New Shares otherwise represent; 
 “New Shares” means shares comprised in the New Holding which were issued in
respect of, or otherwise represent, shares comprised in the Original Holding. 
  

	10.4	Subject to the following provisions of this Rule, references in this Plan to a Participant’s Plan Shares shall be respectively construed, after the time of the
company reconstruction, as being or, as the case may be, as including references to any New Shares. 

  

	10.5	For the purposes of the Plan: 

  

	 	(a)	a company reconstruction shall be treated as not involving a disposal of Shares comprised in the Original Holding; and 

 

	 	(b)	the date on which any New Shares are to be treated as having been appropriated to or acquired on behalf of the Participant 

shall be that on which Corresponding Shares were so appropriated or acquired. 

 

	10.6	In the context of a New Holding, any reference in this Rule to shares includes securities and rights of any description which form part of the New Holding for the
purposes of Chapter II of Part IV of the Taxation of Chargeable Gains Act 1992. 

  

	11.	RIGHTS ISSUES 

  

	11.1	Any shares or securities allotted under Clause 12 of the Deed shall be treated as Plan Shares identical to the shares in respect of which the rights were conferred.
They shall be treated as if they were awarded to or acquired on behalf of the Participant under the Plan in the same way and at the same time as those Plan Shares in respect of which they are allotted. 

 

 34 

	11.2	Rule 11.1 does not apply: 

  

	 	(a)	to shares and securities allotted as the result of taking up a rights issue where the funds to exercise those rights were obtained otherwise than by virtue of the
Trustees disposing of rights in accordance with this Rule; or 

  

	 	(b)	where the rights to a share issue attributed to Plan Shares are different from the rights attributed to other ordinary shares of the Company. 

 

	12.	LEAVERS 

 A Participant who ceases to be
in Relevant Employment must remove his Shares from the Trust within 90 days of his cessation of such employment. If the Trustees do not receive sufficient notice from the Participant for the sale or transfer of Plan Shares within 90 days, then the
Trustees shall have the discretion to dispose of those Shares to meet any PAYE or NICs liability on behalf of the Participant. 
  

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