Document:

EX-10.9

 Exhibit 10.9 
 Board Agreement 
 The undersigned: 

 

	(1)	Sara Lee Corporation, a Maryland corporation, having its registered seat at 3500 Lacey Road, Downers Grove, Illinois, United States, represented by the chairman
of the Executive Board of Sara Lee Corporation, Jan Bennink, hereinafter the “Company”; 

 and 

 

	(2)	Mr M Herkemij, residing at [address on file with the Company] , hereinafter the “Executive”; 

Whereas: 
  

	•	 	 The Executive was elected an executive officer of Sara Lee Corporation, to serve as Executive Vice President of Sara Lee and as Chief Executive Officer
of the International Beverage business segment of the Company with the intention to become the Chief Executive Officer of CoffeeCo after the Spin-Off has been executed, which terms are both defined hereafter; 

 

	•	 	 Also against the background of the fact that, with effect from 1 January 2012, board agreements concluded between a Dutch listed company and a
managing director can no longer be qualified as an employment agreement, the parties have expressed their wish and intention to enter into a management services agreement; 

 

	•	 	 Taking into account the Executive’s other approved positions within the group, the Executive will be expected to devote his time and energy in
full in a way commensurate with the best interests of the Company and its affiliated companies; 

  

	•	 	 The parties wish to lay down the fee and other applicable conditions of engagement in this agreement; 

 

	•	 	 “Sara Lee Change in Control Plan” shall mean: the terms of the Change in Control Plan contained in article 3 of the Sara Lee Corporation
Corporate Officers Severance Plans, which apply generally to executive officers of Sara Lee, in the occurrence of a change in control as defined in that Change in Control Plan ; and 

 

	•	 	 “Spin-Off” shall mean: the Company’s plan, publicly announced on January 28, 2011, to split into two pure play companies by
effecting the spin-off (the “Spin-Off”) of Sara Lee’s international coffee and tea business into a new, independent publicly traded company (such new company: “CoffeeCo”). 

DECLARE TO HAVE AGREED AS FOLLOWS: 
 1. DATE
OF COMMENCEMENT AND POSITION 
  

	1.1	On 1 December 2011, the Executive enters into the Agreement with the Company as Chief Executive Officer of the International Beverage business segment

	1.2	Upon the Spin-Off having been executed the competent authority within CoffeeCo will appoint the Executive as managing director under the articles of association
(“statutair bestuurder”) and member of the Board of Management of CoffeeCo after having informed the General Meeting of Shareholders in accordance with article 2:162 of the Dutch Civil Code. 

 

	1.3	In connection with the duties of the Executive as member of the Board of Management under this agreement, the Executive’s principal place of work shall be the
Netherlands, however the Executive shall be working at all necessary places, including other establishments of CoffeeCo or the Company, and accepts that the position entails considerable travelling. The Company will be entitled to change the
principle place of work after consultation with the Executive. 

  

	1.4	The Executive is obliged to do or to refrain from doing all that an officer in similar positions should do or should refrain from doing and to observe the value the
Company attaches to acting ethically. The Executive shall fully devote himself and his energy to promoting the interests of the Company, taking into account the Executive’s other approved positions within the group. 

 

	1.5	The Executive has the obligations which have been or will be imposed by law, by the Dutch corporate governance code, by the articles of incorporation of the Company and
in any board regulations as such regulations shall apply from time to time. 

  

	1.6	As Chief Executive Officer, the Executive shall be responsible for all activities of CoffeeCo. He will hold the title of Chief Executive Officer International Beverage
(“IB”). As soon as the Spin-Off has been executed, he will become CEO CoffeeCo. 

  

	1.7	The Executive will report to Jan Bennink, the executive chairman of the Company. 

 

	1.8	The Company agrees that, in connection with and effective upon completion of the Spin-Off, the Company will transfer and assign to CoffeeCo, and the Company will cause
CoffeeCo to accept and assume, all of the terms of this Agreement (as per article 6:159 Dutch Civil Code). At and after the effective time of such transfer and assignment, CoffeeCo shall be solely responsible for compliance with all terms of this
agreement that remain to be completed after the effective time of the Spin-Off and the Company shall have no further or continuing rights or obligations hereunder. Pursuant to the transfer and assignment of this Agreement it shall mutatis
mutandis apply to CoffeeCo as the “Company” and the Executive. 

 2. DURATION OF THE AGREEMENT, NOTICE OF
TERMINATION AND TERMINATION FEE 
  

	2.1	The Agreement is entered into for a definite period of four years as of 1 December 2011 (the “Starting Date”). Accordingly, this agreement will terminate
by operation of law, without notice being required, on 30 November 2015 (the “End Date”), without prejudice to the right of the Company and the Executive to terminate the Agreement during this term. 

 

	2.2	The four year term shall be continued upon the listing of CoffeeCo and the start of the Executive as Chief Executive Officer of the CoffeeCo, which means that the
Agreement will still terminate four years from the Starting Date. 

  

	2.3	Without prejudice to paragraphs 2.1 and 2.2, the Agreement may be terminated by either party during its term with due observance of a notice period of six months for
the Company and a notice period of three months for the Executive. 

  
 2 

	2.4	No later than six months before the End Date, the Company and the Executive will inform the other party regarding the intention of continuation of the Agreement for a
definite or an indefinite period after the End Date. 

  

	2.5	If after expiry of the period referred to in paragraphs 2.1 and 2.2, the Agreement is continued the Agreement may be terminated by either party by giving notice with
due observance of a notice period of six months for the Company and a notice period of three months for the Executive. 

  

	2.6	If the Company gives notice of termination of the Agreement, other than due to an urgent cause, subject to the applicable notice period as referred to in paragraphs 2.3
and 2.5, a termination fee equal to an amount of twelve monthly instalments of the annual Base Fee as stipulated in paragraph 3.1 of this Agreement, will be made available to the Executive upon the effective date of termination.

  

	2.7	In case of expiry of the period referred to in paragraph 2.1 and 2.2 a termination fee equal to an amount of eighteen monthly instalments of the annual Base Fee as
defined in paragraph 3.1 of this Agreement will be made available to the Executive upon the effective date of termination. 

  

	2.8	The right to terminate this Agreement due to an urgent cause shall remain unaffected. In case of a termination for an urgent cause given by the Executive, no
entitlement to a termination fee exists. The same applies in case of a termination by the Executive related to an urgent cause on the part of the Executive as well as in the event of an ordinary termination by the Executive. In case of termination
of this Agreement by the Executive related to an urgent cause on the part of the Company, the Executive shall remain entitled to the termination fee as referred to in paragraph 2.6. 

 

	2.9	In the event of a Change in Control as defined in paragraph 2.10, the Executive has an extraordinary right to terminate this Agreement with due observance of the
applicable notice period of three months and resign from his position as a managing director under the articles of association of the Company (statutair bestuurder) and as a member of the Board of Management of the Company as per the end of
the notice period and from all further offices held in a company affiliated to the Company, provided it regards positions that are specifically, inextricably and expressly linked to his position as member of the Board of Management of the Company
(so-called “q.q.-positions”). In case the Executive exercises this extraordinary right to terminate this Agreement, he is entitled to a termination fee according to paragraph 2.10. The extraordinary right to terminate this Agreement can
only be exercised within six months after the Change in Control . The written notice of termination must clarify that the Agreement is terminated for the reason of Change in Control. Otherwise the Executive cannot refer to a change in control at a
later point of time. 

  

	2.10	A Change in Control (“Change in Control”) takes place if the conditions are fulfilled as described in the Sara Lee Change in Control Plan. In this case, the
Executive can invoke his extraordinary right under paragraph 2.9 when the Executive’s freedom to act in support of the business is unduly limited through interference by other company structures resulting in the Executive no longer being able
to effectively act as managing director of the Company at the same level as before the Change in Control. Until the listing of CoffeeCo the Executive will be eligible for the benefits of the Sara Lee Change in Control Plan as set forth in the
Corporate Officers Severance Plans. After the listing of CoffeeCo, CoffeeCo and the Executive will agree on participation by the Executive in a new change in control Plan, which will in general have the same conditions as the Sara Lee Change of
Control Plan, however will be related to the size and activities of CoffeeCo at that time and also be in accordance with the Dutch Corporate Governance Code. 

  
 3 

	2.11	In case the Agreement ends as a result of a termination by the executive on the exclusive ground of Change in Control, the provisions as described in the Sara Lee
Change in Control Plan apply, and after the Spin-Off and the subsequent listing of CoffeeCo, the provisions as described in the CoffeeCo Change in Control Plan apply. Any compensation resulting there from shall be made as a lump sum payment on the
last day of the Agreement, unless it follows differently from the applicable Change in Control Plan. 

  

	2.12	Parties hereby establish that the Spin-Off or the subsequent listing of CoffeeCo does not qualify as a Change in Control under the Sara Lee Change in Control Plan.

  

	2.13	The Executive is obliged to resign from all positions that are specifically, inextricably and expressly linked to his position as member of the Board of Management of
CoffeeCo (so-called “q.q.-positions”) upon termination of this Agreement. 

  

	2.14	In case of non-occurrence of the listing of CoffeeCo by 31 December, 2012, both the Company and the Executive may terminate the Agreement, in which cases the
Executive will receive a one-time payment equal to an amount of eighteen monthly instalments of the annual Base Fee, as stipulated in paragraph 3.1 of this Agreement, as well as (pro-rata) vesting of unvested grants, including the FY12-14 PSUs, as
per paragraph 9.5. 

  

	2.15	Any termination fee received pursuant to this paragraph 2, which shall be made less any statutory withholdings, shall be received by the Executive in full and final
settlement of all claims relating to the termination of the Agreement with the Company and will be set off against any compensation awarded by a court in relation to the termination of the Agreement, if any. If the severance payment has already been
made at the time of such award, the Executive shall repay such amount exceeding the severance payment as unduly paid. 

 3.
COMPENSATION 
  

	3.1	As of 1 December 2011, the Executive’s yearly basis board fee (“Basis Fee”) shall amount to € 900,000.- gross per year, which shall be
paid in twelve equal instalments at the end of each month, less any statutory withholdings. The next review of the Base Fee is scheduled for September 1, 2012. 

 

	3.2	The parties acknowledge and agree that the total remuneration pursuant to this Agreement is subject to the corporate governance rules and the remuneration policy, as
applicable to the Company from time to time (such rules and policy: “Governance”). The Basis Fee as defined in paragraph 3.1 above as well as all other income components under the Agreement, will be determined on a yearly basis, taking
into account the Agreement and in accordance with the Governance. The Company shall not unilaterally modify the Basis Fee to the prejudice of the Executive. 

 4. HIRING PAYMENT 
  

	4.1	The Company will provide the Executive with a one-off compensation equal to € 1.1 million gross for the loss by the Executive of existing rights towards his
predecessing employer relating to both short and long term incentives. The amount will be adjusted if (part of) the applicable incentives will be paid by the predecessing employer to the Executive after all. Such adjustment will be equal to the paid
amounts. The payment of this amount will take place as follows: 

  
 4 

	 	(i)	A gross amount of € 600,000.- will be paid in cash within 30 days of the Starting Date. The Company will endeavour to pay this amount in the most tax efficient
manner for the Executive, if at no further cost (other than for tax advice) or risk for the Company; 

  

	 	(ii)	You will receive a phantom grant at the value of € 500.000,— to be issued to the Executive per 31 January 2012 as 100% Sara Lee company stock, to be
converted in Coffeeco stock as per the Spin-Off date. 

  

	4.2	In case of voluntary termination of this Agreement by the Executive under paragraph 2.3 and in case of termination by the Company for cause on the part of the Executive
(dringende reden) prior to the first anniversary of employment, the Executive will be immediately required to repay to the Company the net equivalent of the total sum of the gross amount mentioned under 4.1 1 or, if the Company cannot under
applicable tax laws recoup the associated and remitted withholdings from the relevant tax authority provided the Executive has a legal possibility to successfully recoup, the gross amount mentioned under 4.1 

5. PENSIONS 
  

	5.1	The Executive will receive a monthly payment equivalent to the normal contribution that would have been made for him within the Dutch Pension Plan. This amount per
signatory date equals EUR 14.667 per month. The Dutch Pension Plan consists of 2 pension schemes, which are operated by Stichting Pensioenfonds Sara Lee Nederland. 

 

	5.2	The Company will endeavour –at the request of the Executive- to make the Executive participate in the pension scheme applicable within the Company in accordance
with the conditions set forth in the applicable pension regulations, taking into account the amount mentioned under paragraph 5.1. 

 6. TAX AND SOCIAL SECURITY 
  

	6.1	The Executive and the Company wish to make use of the so-called 30%-ruling, as laid down in the relevant provisions of the 1964 Dutch Wage Tax Act and the 1965 Dutch
Wage Tax Implementation Decree. The Company and Executive will therefore file an application for the 30%-ruling. Only if and when the facility is granted, the following is applicable: 

 

	 	(a)	If and to the extent that the Executive is eligible for a tax-free reimbursement for extra-territorial expenses based on the relevant provisions of the 1965 Dutch Wage
Tax Implementation Decree, it will be agreed that the remuneration for present board member activities agreed with the Executive will be reduced for civil law purposes in such a way that 100/70 of the thus agreed remuneration for present board
member activities is equal to the originally agreed remuneration for present board member activities. 

  

	 	(b)	If and to the extent that (a) is applied, the Executive shall receive from the Company reimbursement for extra-territorial expenses equal to 30/70 of the thus
agreed remuneration for present board member activities. This allowance is tax-free, the 1964 Dutch Wage Tax Act allowing. 

  
 5 

	 	(c)	The ‘agreed remuneration for present board member activities’ as described in part (a) concerns all the actual to-be-paid or to-be-provided remuneration
for present board member activities as described in the 1964 Dutch Wage Tax Act and the provisions based on it. 

 7. VACATION

  

	7.1	The Executive will be entitled to vacation in accordance with legal and Company practice, which is currently 27 days per calendar year. For each vacation day that
executive has duly administrated with the Company secretary he will receive continuous full payment of his Basis Fee as well as accrual of all further rights and payments under this Agreement. In case of termination of this Agreement the accrued,
untaken holidays as per the termination date shall be paid out in accordance with the customary calculation method used by the Company, however with a maximum payment for 27 days. 

8. SHORT TERM INCENTIVE PLAN 
  

	8.1	With effect from 1 December 2011 the Executive is eligible to participate in the short term incentive plan as established for the members of senior management of
the Company for the year 2011, i.e. the Annual Incentive Plan (AIP): The AIP target for the financial year 2012 (“FY 12”) will be 100% of base salary (with maximum payout of 150%), based on actual IB performance (in accordance with
the FY12 AIP plan). For FY12, the AIP will be weighted as follows: 

 100% IB (40//40/20 Operating Income/ Net
Sales/ Working Capital) 
  

	8.2	For the purpose of FY12 AIP, the bonus will be pro-rated based on the time that the Executive works for the Company, which, based on his notice period with his previous
employer, will be from 1 December 2011 through 30 June 2012. 

  

	8.3	With respect to any short-term incentive plans that will be applicable within CoffeeCo, the following applies: 

 

	 	(a)	Within four weeks after the adoption of the annual accounts by the General Meeting of Shareholders, the Supervisory Board, with due observance of the following, will
annually take a decision on the granting of short-term variable remuneration of the Executive; the short-term variable remuneration will be paid out to the Executive within two weeks after being granted by the Supervisory Board.

  

	 	(b)	The targets set annually by the Supervisory Board will each year, after they have been discussed with the Executive, be laid down in writing by the Company.

  

	 	(c)	The provisions in this paragraph concerning 2012 are based on the remuneration policy of the Company for 2012 as envisaged at the date of execution of this agreement.
If the remuneration policy for 2012 deviates from the provisions of this paragraph, then the parts of the adopted remuneration scheme that most closely resemble the provisions laid down in this paragraph, will apply. In the years as of 2013, the
remuneration as determined by the Supervisory Board within the remuneration policy as adopted by the General Meeting of Shareholders, will apply. 

  
 6 

	 	(d)	In derogation of the above provision, the Supervisory Board reserves the right to determine the amount of the short-term variable remuneration at its own discretion in
case of exceptional circumstances that would make payment in accordance with para 8.3 and 8.4 qualify as an unfair outcome, this discretionary right to be used in line with the rules of the Dutch Corporate Governance Code. 

 

	 	(e)	The short-term variable remuneration is only granted if: 

  

	 	•	 	 the Executive was not suspended or placed on leave of absence on full pay at the time of granting; or 

 

	 	•	 	 the Agreement, before the moment of granting of the short-term variable remuneration, was not terminated for urgent cause or serious culpability of the
Executive. 

  

	8.4	Without prejudice to the provisions of paragraph 8.3, the short-term variable remuneration will be calculated at a pro rata basis in the event of a departure during the
calendar year or at retirement. 

 9. LONG TERM INCENTIVE PLAN 

 

	9.1	During the period until the End Date the Executive is entitled to an annual award for a long-term incentive (“LTI”) with a value of €1.5 million
gross. The LTI will be linked to a three year period and therefore vest upon expiry of that three year period. The first three year period will be the period beginning per 1 January 2012 and ending 31 July 2014 (“FY 12-14”). For
the FY12-14 period, the grant will be distributed as follows: 

  

	 	•	 	 The grant will be made for 100% in so-called Performance Share Units (PSUs), with the equivalent value of the PSUs granted contingent on the stock
price at close of business on the day of the grant. 

  

	 	•	 	 The granting will take place in two instalments of partial grants, the first partial grant being made per 31 January 2012 and equivalent to: 1/3
of the entire LTI value, therefore consisting of €500,000 value of PSUs, the payout of which will be contingent on the Company’s Operating Income for FY12. This grant will have a maximum payout of 150%. The remaining 2/3 of the grant
(€1,000,000) will be granted when CoffeeCo becomes a separate public company, and the payout will be based on Total Shareholder Return (TSR) against a peer group (still to be defined) for the period from grant date through June 2014. This
grant is intended to have a maximum payout of 200% (to be formally approved by the Compensation & Benefits Committee once the performance peer group is finalized). 

 

	 	•	 	 The FY12-14 grant will vest in full at end August 2014. 

 

	9.2	The next grant, with a value of €1,500,000, will be given per 1 August 2012 for the FY13-15 LTI period, which begins in July 2012. Further grants will be made
each subsequent year per 1 August, also each time for subsequent three year granting and vesting periods. 

  

	9.3	The provisions in this paragraph concerning 2012 are based on the remuneration policy of the Company for 2012 as envisaged at the date of execution of this agreement.
If the remuneration policy for 2012 deviates from the provisions of this paragraph, then the parts of the adopted remuneration scheme that most closely resemble the scheme laid down in this paragraph, will apply. In the years as of 2013, the
remuneration as determined by the Supervisory Board within the remuneration policy as adopted by the General Meeting of Shareholders, will apply. 

  
 7 

	9.4	As part of the remuneration policy and subject to the approval by the General Meeting of Shareholders, a guideline for shareholding will apply for the members of the
Management Board. This guideline recommends that the Executive in five years will build a shareholding in the company amounting to one time his annual base salary. The Executive declares himself prepared to cooperate with the compliance with this
guideline. 

  

	9.5	 In case this contract ends without urgent cause on the part of the Executive, he will be entitled to immediate vesting of the unvested PSU’s on a
pro rata basis (until 1st year after grant: 25%; between
1st and 2nd year after grant 50% between 2nd and 3rd year of the grant: 75%). 

 EXPENSES 
  

	9.6	Company Car: The executive is entitled to the use of a lease company car, which is in accordance with Company regulations, in terms of types and prices.
Personal tax obligations will be the Executive’s own responsibility. The Company is currently working to provide this benefit as a cash payment (vs. providing the vehicle) and the monthly allowance will be equal to EUR 3.300.

  

	9.7	Both the pension contribution due in case the Executive will not participate in the pension scheme applicable within the Company and the car allowance are taxable
amounts. The Company will endeavour to pay the amounts tax efficiently, within the boundaries of the Dutch Governance Code. 

  

	9.8	Representation Allowance: The Executive will be entitled to a representation allowance of EUR 4,080 per year, payable in 12 monthly installments (of which
EUR 1,080 is a net payment according to the fiscal rules 2010; the remainder is a gross payment). This allowance may be adjusted annually at the Company’s discretion. The right to receive this allowance will end immediately if the Executive is
suspended or relieved of duties, and also in case of incapacity for work, after a period of more than two (2) months. 

  

	9.9	Relocation Costs: The Executive will be eligible for relocation benefits equivalent to the Sara Lee Relocation Policy, including costs in relation with
the family(members) of the Executive as a result of the relocation and movement of household belongings & furnishings from current residence to The Netherlands. The Company will provide additional details in a separate document. This shall
also cover a one-off refurbishment allowance of the Executive’s house in NL of EUR 11.500 net, which will be payable within 30 days of the Starting date. 

 10. INSURANCES 
  

	10.1	The Company shall arrange a state of the art directors’ and officers’ liability insurance for the benefit of the Executive, including reimbursements of
lawyer’s fees made by the Executive in case he is held liable by any third party or the Company, if the principal claim by such party is covered under the insurance. The conditions are stated in the policy, a copy of which will be provided to
the Executive as soon as possible after signing. The costs for this insurance shall be for the account of the Company. 

  
 8 

	10.2	The Executive can participate in the company’s Health Insurance scheme, which is equal to (rounded) EUR 160.—a month per adult family member, at the
Executives’ own expense. Children at the age until 18 are covered for free. 

  

	10.3	In case of termination of this Agreement by the Company for other reasons than due to an urgent cause, the Company will pay the Executive a monthly compensation to be
used by the Executive for unemployment insurance. This monthly amount is limited to the maximum premium contribution under the legal system (WW – maximum dagloon) of an employer in the Netherlands for unemployment benefits on a yearly
basis and will only be due if and as long as the Executive is and remains unemployed. 

 11. DISABILITY 

 

	11.1	In case the Executive is unable to perform his duties under this agreement due to illness or other reasons which are not his fault, he shall inform the Company and its
Supervisory Board immediately and provide the Company with the appropriate medical certificates. 

  

	11.2	During the first year of continuous or permanent disability the Company shall not terminate the Agreement. This agreement will not end if either of the parties
explicitly agree on its continuation, or before expiry of the first twelve months the Executive provides a medical certificate of a physician stating that in all probability the Executive will again be able to perform his tasks without limitation
within the next six months, in absence whereof article 11.8 shall apply. The physician providing such medical certificate has to be agreed upon between the parties. In case the parties do not agree on a physician, the district court at the business
seat of the Company will be requested to determine an appropriate medical expert. 

  

	11.3	The Executive shall during the period mentioned under paragraph 11.2 be entitled to the continuation of all conditions set out in this Agreement.

  

	11.4	In case the Executive dies during the term of this Agreement, his widow, or in lieu of a widow his dependent children, will receive continued payment of the Basis Fee
for the month during which the Executive died and for the following twelve calendar months, including a pro rata payment of the AIP and LTI. 

  

	11.5	The Executive shall not be entitled to the board fee payment referred to in 11.1 above, if and to the extent that he can validly claim damages in connection with his
inability to work from a third party on account of loss of income. In this event, the Company shall satisfy payment solely by means of an advanced payment on the compensation to be received from the third party and upon assignment by the Executive
of his rights to damages vis-à-vis the third party concerned up to the total amount of advanced payments made. The advanced payments shall be set off by the Company if the compensation is paid or, as the case may be, in proportion.

  

	11.6	The following shall be deducted from the board fee owed by the Company: 

  

	 	(a)	the amounts of any cash benefit to which the Executive is entitled under any statutory or other insurance or from any social or other fund membership or which has been
stipulated contractually or results from this agreement. These amounts include in any event payments made to the Executive pursuant to a any other disability scheme; 

  
 9 

	 	(b)	the amounts of earned income for work which the Executive has performed elsewhere, despite his disability, other than for the Company, either under a contract of
employment or otherwise. 

  

	11.7	The Company reserves the right to unilaterally amend the provisions set out in this paragraph 11 in the event the Company offers the Executive an alternative
arrangement to adequately cover the consequences of the inability to work of members of the Board of Management that are engaged on the basis of a services agreement, provided that the rights of the Executive under such arrangement are covered at
exactly the same level. 

  

	11.8	In case the continuous or permanent disability of the Executive has exceeded twelve months, this Agreement shall automatically terminate per that date and the Executive
will be entitled to a termination fee of twelve monthly instalments of the Base Fee. 

  

	11.9	The Company will at its cost arrange for the Executive insurance coverage for the event of continuous or permanent disability of the Executive that lasts longer than
twelve months, which insurance will cover the permanent loss of income (which income is set at the Base Fee). 

 12.
CONFIDENTIALITY 
  

	12.1	The Executive has the duty to keep strictly confidential all matters concerning the Company disclosed to him in connection with his engagement with the Company, both
during and after expiry of the Agreement, both regarding third parties and regarding other persons employed by the Company, save where those matters concern the latter category in view of the activities they perform for the Company. The Company
Internal Code on Inside Information is applicable to the Executive. 

 13. NO ADDITIONAL OCCUPATION 

 

	13.1	Taking into account the Executive’s other approved positions within the group, the Executive has the duty to dedicate all his energy to the interests of the
Company as and when required. The Executive shall refrain from accepting remunerated or time-consuming non-remunerated work activities with or for third parties not belonging to the Company’s group, including but not limited to supervisory or
non-executive directorships and board positions, or from doing business for his own account without prior explicit written consent of the Supervisory Board of the Company. 

 14. DOCUMENTS 
  

	14.1	The Executive shall not have nor keep in his possession any documents and/or correspondence and/or data carriers and/or copies thereof in any manner whatsoever, which
belong to the Company or to affiliated companies, except insofar as and for as long as necessary for the performance of his work for the Company. In any event the Executive will be obliged to return to the Company immediately, without necessitating
the need for any request to be made in this regard, any and all such documents and/or correspondence and/or data carriers and/or copies thereof at termination of this agreement or on suspension of the Executive from active duty for whatever reason.

  
 10 

 15. NON-COMPETITION 
  

	15.1	The Executive shall throughout the duration of this Agreement and for a period of one year after termination hereof, not be engaged or involved in any manner, directly
or indirectly, whether for the account of the Executive or for the account of others, in any (legal) person, institution or undertaking or other venture which conducts activities in the field of the coffee and tea business nor act as intermediary in
relation to such activities in whatever manner directly. This obligation applies solely to the territory where the Executive carried out work activities for the benefit of the Company during the year immediately preceding the termination of this
agreement. 

  

	15.2	Irrespective of how the Agreement terminates, the Executive shall without the prior written approval from the Company for a period of one year after termination of the
Agreement not: 

  

	 	(a)	induce any (legal) person, institution or undertaking, including suppliers and customers of the Company or of companies affiliated with the Company, to amend or
terminate their business relationship with the Company or with companies affiliated with the Company; 

  

	 	(b)	induce employees or persons who in the last year prior to the termination of the Agreement have or have had an employment agreement with the Company and/or companies
affiliated with the Company, to give notice of termination of their employment agreement with the Company and/or companies affiliated with the Company and/or to employ these employees or persons. 

 

	15.3	This clause 15 does not apply in case of termination of this Agreement by the Executive in relation to an urgent cause on the part of the Company.

 16. INDEMNITY 
  

	16.1	The Company will indemnify the Executive in respect of all claims, liabilities costs and expenses suffered or incurred by the Executive in his capacity as board member
of the Company and arising from this Agreement, unless in case of wilful intent/misconduct (opzet) or deliberate recklessness (bewuste roekeloosheid). 

 17. FINAL PROVISIONS 
  

	17.1	This agreement can only be amended or supplemented to by means of a written document signed by both parties. This agreement supersedes all previous agreements and takes
their place except for the terms and conditions related thereto, as amended. 

 18. GOVERNING LAW 

 

	18.1	This agreement is governed by and construed in accordance with the laws of the Netherlands. 

 In witness whereof, this agreement has been signed and executed in duplicate this August 30, 2011. 
  

			
	Sara Lee Corporation:	  	the Executive
		
	/s/ Mr J. Bennink	  	/s/ Mr M Herkemij

 Chairman Executive Board 

  
 11Master Intercompany Services Agreement

			
		  	 Exhibit 10.5
  

EXECUTION VERSION

  
  
 MASTER INTERCOMPANY SERVICES AGREEMENT 
 Among 

the Parties Signatory Hereto 
  

Dated as of January 31, 2008 

 TABLE OF CONTENTS 

							
	 	  	 	  	Page	 
	 1.
	  	 AGREEMENT TO PROVIDE SERVICES
	  	 	2  	  
			
	 2.
	  	 COST SHARING
	  	 	3  	  
			
	 3.
	  	 REPORTING; TIMING OF PAYMENTS
	  	 	3  	  
			
	 4.
	  	 STANDARDS FOR PERFORMANCE OF SERVICE
	  	 	4  	  
			
	 5.
	  	 ACCESS TO EMPLOYEES AND INFORMATION
	  	 	4  	  
			
	 6.
	  	 FORCE MAJEURE
	  	 	4  	  
			
	 7.
	  	 INDEMNIFICATION
	  	 	4  	  
			
	 8.
	  	 NEW SERVICE PROVIDERS AND SERVICE RECIPIENTS
	  	 	5  	  
			
	 9.
	  	 TERM AND TERMINATION
	  	 	5  	  
			
	 10.
	  	 GENERAL PROVISIONS
	  	 	6  	  

  
 -i-

 MASTER INTERCOMPANY SERVICES AGREEMENT 

 
 This MASTER INTERCOMPANY SERVICES AGREEMENT
(this “Agreement”) is made and entered into as of January 31, 2008, by and among certain subsidiaries of PRESTIGE CRUISE HOLDINGS, INC, a corporation formed under the laws of the Republic of Panama
(“Parent”) providing services (as set forth in Schedule G hereto, collectively, the “Service Providers”) and certain subsidiaries of Parent receiving such services (as set forth in Schedule G hereto,
collectively, the “Service Recipients”). 
  

WITNESSETH: 
  

WHEREAS, pursuant to (i) the Regent Seven Seas Cruises Master Agreement, dated as of December 8, 2007
(the “Master Agreement”), by and among Classic Cruises Holdings S. DE R.L., an entity formed under the laws of the Republic of Panama (“Purchaser”). Carlson Cruises Worldwide, Inc., a Minnesota corporation
(“Carlson”) and Vlasov Shipping Corporation, an entity formed under the laws of Liberia (“Vlasov”), (ii) the Carlson Share and Asset Transfer Agreement, dated as of December 8, 2007, between Carlson and
Purchaser (the “Carlson Agreement”) and (iii) the Vlasov Share Transfer Agreement, dated as of December 8, 2007, between Vlasov and Purchaser (the “Vlasov Agreement” and together with the Master Agreement,
the Carlson Agreement, and all of the other agreements referenced therein and in connection therewith, collectively, the “Purchase Agreements”), Purchaser shall, among other things, purchase certain assets and equity interests which
comprise 100% of the Regent Seven Seas Cruise business as currently operated and owned by Carlson and Vlasov (the “Transaction”); 
 WHEREAS in connection with the consummation of the Transaction, the Purchaser and Carlson Companies, Inc. (“CCI”) have entered into a Transition Services Agreement, dated as of
January 31, 2008 (the “Transition Services Agreement”) pursuant to which CCI has agreed to provide certain transitional services to the Purchaser for a limited period of time, in order to facilitate the sale of the business to
the Purchaser under the Purchase Agreements; 
   WHEREAS following the consummation of the
Transaction, the Service Providers desire and are willing to provide, or cause to be provided, to the Service Recipients, certain services as set forth herein and in the Schedules hereto during the periods set forth herein and in the Schedules
hereto; 
 WHEREAS from time to time, as certain services are no longer provided by CCI pursuant to the
Transition Services Agreement, the Service Providers (to the extent they are able to provide such services) desire and are willing to provide, or cause to be provided, to the Service Recipients, such services as were provided by CCI under the terms
of the Transition Services Agreement; and 

 WHEREAS capitalized terms used in this Agreement which are otherwise
not defined shall have the meanings ascribed to them in the Master Agreement; 
  
 NOW, THEREFORE, in consideration of the foregoing recitals and the mutual covenants and agreements contained in this Agreement, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows: 
  

TERMS AND CONDITIONS 
  

1.         Agreement to Provide Services. 

1.1.        Agreement.      Upon the terms
and subject to the conditions contained herein and in the Schedules attached hereto (each, as it may be amended from time to time, a “Schedule”), the Service Providers hereby agree to provide, or cause their affiliates to provide,
to the Service Recipients the services (the “Services”) listed in the Schedules. Each of the Services shall be provided and accepted in accordance with the terms, limitations and conditions set forth herein and in the Schedules.
This Agreement amends and restates all prior agreements (oral or written) pursuant to which either the Service Providers provided services to each other or the Service Recipients provided services to each other. 

1.2.        Scope of Services.    The parties agree
that upon the terms and subject to the conditions contained herein, additional or new services which are not currently contemplated in this Agreement may be added to the Schedules from time to time. Any new or additional services undertaken by the
Service Providers to the Service Recipients shall be provided for a fee that includes the cost plus applicable operating margin (as may be determined from time to time) as more fully described in Section 2, and any such transactions
shall be conducted on an arm’s-length basis. 

1.3.        Review of Services.     The parties
agree that: (i) the scope, frequency and manner of delivery of the Services detailed herein are subject to periodic review by the parties; (ii) changes to any of the Services (including the addition or deletion of services) may be made at
any time if agreed to by the parties; and (iii) this Agreement may be amended from time to time according to the terms set out in Section 10.5. The parties further agree that this Agreement shall not be amended in any manner
materially adverse to those debt providers who provide debt support to the parties hereto from time to time. 

1.4.        Right to Deliver and Request Instructions. 

  a.        Each Service Recipient, acting through any of its
authorized officers, may from time to time deliver to a Service Provider instructions with respect to matters arising under this Agreement, and the Service Provider shall follow such instructions provided they are consistent with the terms and
conditions of this Agreement. 

  
 -2-

   b.        At any time,
any Service Provider may, if it reasonably deems it necessary or appropriate, request instructions from a Service Recipient, within a reasonable period prior to the time necessary for taking action with respect to any matter contemplated by this
Agreement, and may defer action thereon pending receipt of such instructions. Any action taken by a Service Provider, its officers, directors, employees, agents or representatives in accordance with the instructions of a Service Recipient, or
failure to act by a Service Provider pending the receipt of such instructions after request therefor, shall be deemed to be proper conduct within the scope of service authority under this Agreement. 

1.5.        Service Designees.      Each
Service Provider may perform the services to be provided hereunder through its own officers and employees, or through agents, independent contractors or other parties designated by it; provided, however, that each Service Provider will
remain liable hereunder as if it has performed such services directly. 

2.         Cost Sharing. 

2.1.        Each Service Recipient agrees to bear and to pay its share of the
Net Costs as defined in Section 2.2 below and, as contemplated by this Agreement, make payment arrangements with the Service Provider on an arm’s-length basis for all activities covered by this Agreement for each calendar month.

 2.2.        Each Service Provider shall compute the costs that it
incurs in connection with providing Services under this Agreement (its “Net Costs”) in accordance with the following formula: 
  Net Costs = Direct Costs + Indirect Costs 
 “Direct
Costs” means the sum of all external and all internal direct costs incurred by a Service Provider and directly attributable to a particular Service provided to a particular Service Recipient. 

“Indirect Costs” means all external and all internal indirect costs incurred by the Service Provider in
providing the Services to the Service Recipients, which cannot be directly attributed to a particular Service provided to a particular Service Recipient, including but not limited to salaries and bonuses, wages for permanent and temporary employees,
expatriate costs (where applicable), facilities charges (including office rent, depreciation, maintenance, utilities and supplies), travel costs, pension benefits, insurance benefits, depreciation of fixed assets and all expenses to third parties
incurred in connection with the Services, excluding value added tax, withholding taxes and/or similar levies, which shall be paid by the respective Service Provider, if legally required. 

3.        Reporting; Timing of Payments.    Each
Service Provider shall submit a statement to each applicable Service Recipient no later than twenty (20) calendar days after the end of each calendar month (unless otherwise agreed to by the parties), with respect to the amount of Net Costs
payable by such Service Recipient for such month (a “Statement”). Such Statement shall set forth in reasonable detail: (i) the Direct Costs incurred in providing each Service to such Service Recipient and (ii) the Indirect
Costs incurred in providing each Service 

  
 -3-

 
to such Service Recipient. Unless any such Service Recipient disagrees as to the amounts payable as set forth in the Statement, all Statements shall be settled not later than forty-five
(45) calendar days following receipt by the Service Recipient from the Service Provider of such Statement relating to the Services provided. In the event of any disagreement between the Service Providers and the Service Recipients with respect
to any Statement or any amounts owed thereunder, the parties hereto agree to negotiate in good faith to resolve such dispute. 
 4.         Standards for Performance of Service.    Each Service Provider shall perform its obligations hereunder in a prudent and
efficient manner and in accordance with applicable law and good industry practice. 

5.         Access to Employees and Information. 

  5.1.    Access.    At the request of any Service Recipient,
each Service Provider shall, and shall cause its affiliates to, use its reasonable best efforts to provide for consultation with the Service Recipient, shortly after such request, its employees providing Services hereunder. At the request of any
Service Recipient, each Service Provider shall, and shall cause its affiliates to, make available information relating to such Service Provider’s business. 

  5.2.    Inspection.     Each Service Provider hereby
agrees that, upon reasonable notice from any Service Recipient, it shall make its books and records with respect to Services and payment therefor available to the Service Recipient and its representatives for inspection during normal business hours
at such Service Provider’s principal place of business. 

6.         Force Majeure.  No party shall be liable for
any failure of performance attributable to acts, events or causes (including, but not limited to, war, riot, rebellion, civil disturbances, power failures, failure of telephone lines and equipment, flood, storm, fire and earthquake or other acts of
God or conditions or events of nature, or any law, order, proclamation, regulation, ordinance, demand or requirement of any Governmental Authority) beyond its control that prevent in whole or in part performance by such party hereunder. The affected
provisions and/or other requirements of this Agreement shall be suspended during the period of such disability and no Service Provider shall have any liability to any Service Recipient or any other party in connection therewith other than by reason
of breach or nonfulfillment of its covenants in this Section 6. The Service Providers shall make all reasonable efforts to remove such disability as soon as and to the extent reasonably possible and to assist the Service Recipients in
finding third parties to provide affected Services during the period of such disability. 

7.         Indemnification.  The Service Recipients shall
indemnify, defend and hold harmless the Service Providers, their affiliates, their officers, directors, employees, agents and representatives from and against any and all losses, liabilities, claims, damages, actions, fines, penalties, expenses or
costs (including court costs and reasonable attorneys’ fees) (“Losses”) suffered or incurred by any such Person arising from or in connection with any Service Providers’ performance or non-performance of any covenant,
agreement or obligation of the Service Provider hereunder, other than by reason of the Service Providers’ or any of their affiliates’ gross negligence, willful misconduct or bad faith. This Section 7 shall survive any

  
 -4-

 
termination or expiration of this Agreement. 

8.         New Service Providers and Service
Recipients.  Additional subsidiaries of Parent may become Service Providers or Service Recipients, as the case may be, under this Agreement. Applications shall be directed to the Parent for its consideration. If the Parent decides that
the applicant fulfills the requirements to become a new Service Provider or Service Recipient, as the case may be, it shall notify the current Service Providers and Service Recipients. If none of the current Service Providers and Service Recipients
object to such entry within ten (10) days of receipt of the notification, the entry is deemed to be agreed. If the current Service Providers and Service Recipients agree, the Parent shall then sign an entry agreement in the form of the sample
attached in Appendix A with the applicant. In the event of any disagreement between the Service Providers and/or the Service Recipients, as the case may be, and the Parent with respect to any applicant, the parties hereto agree to consult in good
faith to resolve such disagreement. 
 9.         Term and
Termination. 
 9.1.        Term of Services. The term of
this Agreement shall be one (1) year beginning from the date of completion of the transactions contemplated by the Purchase Agreements, provided that such term shall renew automatically for successive terms of one (1) year unless the
Parent provides written notice to the other parties hereto that this Agreement shall not be renewed at least fifteen (15) days prior to the expiration of any one (1) year term. 

   9.2.    Termination by Parent.    The Parent may
terminate this Agreement, or any part of this Agreement, at any time upon sixty (60) days prior written notice to the parties hereto. 
    9.3.    Termination by Other Parties.   Each of the Service Providers and Service Recipients may terminate its interest in this Agreement for a
subsequent calendar year by providing written notice to the Parent not less than sixty (60) days prior to the end of any calendar year. The Parent will forward the notice to the other Service Recipients or Service Providers without undue delay.
The dismissal of a single Service Provider or Service Recipient will not affect the validity of the Agreement as a whole. The other Service Providers or Service Recipients shall have the right to terminate their respective interest in the Agreement
two weeks after receiving the notice irrespective of the termination period pursuant to the first sentence of this Section 9.3. 
    9.4.    Termination on Reduction in Scope.      Each of the Service Recipients may terminate its interest in this Agreement by
written notice to the Parent if a Service Provider reduces the scope of the Services provided to such Service Recipient and fails to restore the scope of Services within sixty (60) days of receiving written notice from the Service Recipient
identifying such reduction in scope, which notice shall also be sent to the Parent. 

   9.5.    Termination on Material Breach.    This
Agreement shall terminate with respect to any party hereto that breaches its obligations herein if such breach remains 

  
 -5-

 
uncured for thirty (30) days after such party receives written notice of the breach from the Parent. 

9.6.    Automatic Termination.        This Agreement
shall terminate automatically, without any notice or other action whatsoever on the part of any party hereto, as to any party and such party’s subsidiaries that (i) becomes the subject of any voluntary petition in bankruptcy or other
voluntary proceeding relating to insolvency, receivership, liquidation, or composition for the benefit of creditors; (ii) becomes the subject of an involuntary petition in bankruptcy or any other involuntary proceeding relating to insolvency,
receivership, liquidation, or composition for the benefit of creditors, if such petition or proceeding is not dismissed within thirty (30) days of the filing or initiation thereof; (iii) is in default under any agreement or indenture
governing indebtedness of such party. 
 10.     General Provisions.

 10.1.   Assignment; Successors and Assigns.    Except as set forth
below, this Agreement and the rights and obligations hereunder shall not be assigned or transferred in whole or in part by any party hereto without the prior written consent of the Parent. Any attempted assignment or delegation in contravention
hereof shall be null and void. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the parties hereto. 
 10.2.   No Third-Party Beneficiaries.     Except for Persons entitled to indemnification under Section 7 hereof, this Agreement is for the sole
benefit of the parties hereto, and nothing herein expressed or implied shall give or be construed to give to any Person or entity, other than the parties hereto, any legal or equitable rights hereunder. 

10.3.   Remedies.  Except as otherwise expressly provided herein, none of the remedies
set forth in this Agreement is intended to be exclusive, and each party shall have all other remedies now or hereafter existing at law or in equity or by statute or otherwise, and the election of any one or more remedies shall not constitute a
waiver of the right to pursue other available remedies. Nothing contained herein shall be deemed to be a limitation on any remedies that otherwise may exist or be available to any party under the Purchase Agreements or any other related agreement.

 10.4.   Interpretation; Definitions.      The headings
contained in this Agreement or in any Schedule hereto are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. The terms defined in the singular shall have a comparable meaning when used in the
plural, and vice versa. This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting or causing any instrument to be drafted. When a reference is made in this
Agreement to Articles, Sections or Schedules, such reference shall be to an Article or Section of or Schedule to this Agreement unless otherwise indicated. Whenever the words “include,” “includes” or “including” are
used in this Agreement, they shall be deemed to be followed by the words “without limitation.” The phrases “the date of this Agreement,” “the date hereof’ and terms of similar import, unless the context otherwise
requires, shall be deemed to refer to the date set forth in the first paragraph of this Agreement. The words “hereof,” “hereby,” 

  
 -6-

 
“herein,” “hereunder” and similar terms in this Agreement shall refer to this Agreement as a whole (including the Schedules) and not to any particular Section in which such
words appear. All references herein to dollar amounts shall be deemed to be references to U.S. Dollars. 

10.5.   Amendments. 

  a.         The parties hereto will periodically review this
Agreement as to the reasonableness of its terms on a quarterly basis and, in any case, not later than three (3) months after the end of Parent’s accounting year. Such review may be evidenced by documentation reasonably acceptable to the
Parent. 
   b.         No amendment to this Agreement
shall be effective unless it shall be in writing and signed by Parent and each party to be bound by the proposed amendment, provided that any Schedule hereto may be amended by the Parent provided that the Parent provides written notice to each party
to be bound by the proposed amendment and that no such notified party objects in writing to such amendment within seven (7) calendar days of receipt of notice thereof. 

  c.         This Agreement shall be amended in accordance with
the provisions of Section 1.3. 
 10.6.   Cooperation.  The Service
Recipients will provide all information that the Service Providers reasonably request for performance of services pursuant hereto, and the Service Recipients will cooperate with any reasonable request of the Service Providers in connection with the
performance of services pursuant hereto. 
 10.7.   Counterparts.  This
Agreement and any amendments hereto may be executed by facsimile and in one or more counterparts, all of which shall be considered one and the same agreement, and shall become effective when one or more such counterparts have been signed by each of
the parties and delivered to the other party. 
 10.8.   Severability.  If any
provision of this Agreement or the application of any such provision to any Person or circumstance shall be held invalid, illegal or unenforceable in any respect by a court of competent jurisdiction, such invalidity, illegality or unenforceability
shall not affect any other provision hereof. 
 10.9.   Governing
Law.      This Agreement shall be governed by and construed in accordance with the laws of the State of Florida applicable to agreements made and to be performed entirely within such State, without regard to the
choice of law principles of such State. 
 10.10. Waiver.    Except as otherwise
provided in this Agreement, any failure of any of the parties hereto to comply with any obligation, covenant, agreement or condition herein may be waived by the party entitled to the benefits thereof only by a written instrument signed by the party
granting such waiver, but such waiver or failure to insist upon strict compliance with such obligation, covenant, agreement or condition shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure. Any consent
given by any party pursuant to this Agreement shall be valid only if contained in a written consent signed by 

  
 -7-

 
such party. 
 10.11.
Notices.      All notices or other communications required or permitted to be given hereunder shall be in writing and shall be delivered by hand or sent by telecopy, or by postage prepaid, registered, certified
or express mail or by reputable overnight courier service and shall be deemed given when delivered by hand or upon receipt of telecopy confirmation if sent by facsimile, three days after mailing (one (1) Business Day in the case of guaranteed
overnight express mail or guaranteed overnight courier service), at the address for the entity receiving such notice that is kept by and may be requested from the Parent, which Parent shall keep an accurate and current record of the addresses of all
entities party hereto. Any party hereto may change its address in the records of the Parent by providing written instructions to the Parent specifying the new address of such entity. The address of the Parent is: 

Prestige Cruise Holdings, Inc. 
 8300 N.W. 33rd Street, Suite 308 
 Miami, Florida 33122 

10.12. Authority.   Neither of the parties hereto shall act or represent or hold itself out as
having authority to act as an agent or partner of the other party, or in any way bind or commit the other party to any obligations. Nothing contained in this Agreement shall be construed as creating a partnership, joint venture, agency, trust or
other association of any kind, each party being individually responsible only for its obligations as set forth in this Agreement. 
 10.13. Schedules.   All Schedules annexed hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if set forth in full herein. 

10.14. Entire Agreement.     This Agreement (including the Schedules hereto) contains
the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral, relating to such subject matter. 

 
 [Signature Page Follows] 

  
 -8-

 IN WITNESS WHEREOF, the parties hereto have duly executed this
Agreement as of the date first above mentioned. 
  
  

							
		 	 PRESTIGE CRUISE HOLDINGS, INC.

				
		 	 By:
	 	 /s/ Gema M. Piñon
	 	
		 	 Name: Gema M. Piñon

		 	 Title: Vice President

		
		 	 CLASSIC CRUISES HOLDINGS S. DE

R.L.

				
		 	 By:
	 	 /s/ Gema M. Piñon
	 	
		 	 Name: Gema M. Piñon

		 	 Title: Authorized Signatory

		
		 	 OCEANIA CRUISES, INC.

				
		 	 By:
	 	 /s/ Gema M. Piñon
	 	
		 	 Name: Gema M. Piñon

		 	 Title: Vice President

		
		 	 OCEANIA CRUISES IRELAND LTD

				
		 	 By:
	 	 /s/ Luis San Miguel
	 	
		 	 Name: Luis San Miguel

		 	 Title: Director

		
		 	 PRESTIGE CRUISES AIR SERVICES

INC.

				
		 	 By:
	 	 /s/ Victor Gonzalez
	 	
		 	 Name: Victor Gonzalez

		 	 Title: Director

  

[SIGNATURE PAGE: MASTER INTERCOMPANY SERVICES
AGREEMENT] 

 Index of Schedules 

 
  

					
	 Administrative Services
	  	 	A-l	  
		
	 Sales and Marketing Services
	  	 	B-l	  
		
	 Technical Services
	  	 	C-l	  
		
	 Intellectual Property Licenses
	  	 	D-l	  
		
	 Other Licenses
	  	 	E-l	  
		
	 Air Travel Services
	  	 	F-l	  
		
	 Service Providers and Service Recipients
	  	 	G-l	  

 Schedule A 
 Administrative Services 
 Term: 

Scope:              Each Service Provider providing
Administrative Services to any Service Recipient shall provide all administrative services to the Service Recipient as the Service Recipient may from time to time request from the Service Provider, including without limitation the following:

  

	 1.
	 Support Services 

 Such technical, marketing and business support services and assistance as may be requested from time to time relating. 
  

	 2.
	 Treasury Services 

 Services for the administration of certain treasury functions as may be requested from time to time, which may include but shall not be limited to managing capital structure, and investment &
debt portfolios; financing for operations; managing credit lines and facilities; managing compliance with financial covenants. 
  

	 3.
	 Tax Services 

 Tax support and tax compliance services as may be necessary to ensure that the Service Recipient complies with applicable tax laws and as may be requested from time to time. The Service Provider shall
coordinate with and assist the Service Recipient’s certified public accountants (the “Accountants”) in preparing tax returns in order that such tax returns be filed as soon as reasonably practicable after the end of each fiscal
year. The Service Provider shall use all reasonable efforts to cause such tax returns to be filed on a timely basis and shall, promptly after the receipt thereof from such Accountants, deposit such copies with the permanent records of the subject
entity. Such tax services may also include assistance with respect to tax research and planning; tax examinations; tax provisions; sales, use, liquor, and property tax. 

 

	 4.
	 Legal Affairs 

 Legal support services as may be requested from time to time, which may include but shall not be limited to the administration of any litigation by, against or involving a Service Recipient, maintenance
of trademarks and monitoring compliance with any regulatory requirements to which any Service Recipient is subject or may become subject in the future, but which shall not include any legal services the provision of which the Service Provider
concludes, after consultation with its counsel, could reasonably be expected to create a conflict of interest or violate an ethical rule. 
  

	 5.
	 Accounting/Books and Records 

Accounting support services as may be requested from time to time to assist in the maintenance of (a) a system of
accounting for the Service Recipient administered in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) consistently applied and other accounting principles reasonably requested, and
(b) a 

  
 A-1

 
set of audit procedures that are consistent with U.S. GAAP. In addition, the Service Provider shall provide such support services for the Service Recipients as they may request from time to time
to, including but not limited to: 
 Accounts Payable:  Invoice processing, expense report
processing, vendor file maintenance, 1099 reporting. 
 Accounts Receivable:  Credit,
collections, cash application. 
 General Ledger
Accounting:        GL maintenance, journal entry processing, account reconciliations, month end close financials, fixed asset accounting. 

General Accounting:  IBM liaison governance support. 

PPM:  Project Portfolio Management. 

ERP:   Oracle financial system. 

Hyperion:  Management of Hyperion reporting, planning and Essbase cubes. 

 

	 6.
	 Financial Statements/Periodic Reports 

The Service Provider shall provide such assistance to the Service Recipient as may be requested from time to time by the
Service Recipient in the preparation of an audited consolidated balance sheet as at the end of each fiscal year and audited statements of income and results of operations and cash flows for such fiscal year (including notes thereto) of Parent and
any subsidiary requested by Parent, which set forth in each case (in comparative form) corresponding figures for the preceding fiscal year and which are accompanied by the report thereon of the Accountants to the effect that such financial
statements have been prepared in accordance with U.S. GAAP applied on a basis consistent with prior years (except as otherwise specified in such report). In addition, the Service Provider shall provide other financial statements and periodic reports
as reasonably requested by the Service Recipients. 
 The Service Provider shall provide such assistance to the
Service Recipient as may be requested from time to time in the preparation of a report of Parent and any subsidiary consisting of an unaudited consolidated balance sheet as at the end of each fiscal quarter and an unaudited statement of operations,
setting forth in each case in comparative form the corresponding figures for the preceding fiscal quarter. If requested by the Service Recipient, any such reports shall be certified by the Service Provider to be correct and complete, to fairly
present in all material respects the consolidated financial condition of the Service Recipient, as the case may be, at the date shown and the results of operations for the period then ended and to have been prepared in accordance with U.S. GAAP
consistently applied, except for year-end adjustments. The reports for each fiscal quarter shall include a narrative discussion describing the business and operations of the Service Recipient during the preceding quarter. 

  
 A-2

 The Service Provider may engage outside accountants in connection with the
provision of administrative services relating to the preparation of financial statements and periodic reports, in accordance with applicable corporate policies. 
  

	 7.
	 Financial Services 

 The Service Provider shall provide budgeting, forecasting, financial planning and analysis services as may be requested. 
  

	 8.
	 Property Management 

 The Service Provider shall provide such support and assistance to the Service Recipient as may be requested from time to time in connection with the management of any real or leasehold property interests
of the Service Recipient, including but not limited to: 
 Rent/Support - Minneapolis:  Base
rent, building management, routine maintenance and utilities, interior design and space planning, mail room. 

Rent/Support - Omaha Reservation Center:  Base rent, building management, routine maintenance, property
taxes, and utilities, overhead support, human resources, employee relations 
  

	 9.
	 Borrowing Documentation 

 The Service Provider shall provide such support services as may be requested from time to time in connection with the administration of Parent’s and Parent’s subsidiaries financing arrangements,
which may include but shall not be limited to the administration of Parent’s and its subsidiaries’ respective obligations and responsibilities under any loan documents and related security and other documents related to any borrowings of
Parent or any subsidiary of Parent. 
  

	 10.
	 Government Approvals 

 The Service Provider shall provide such support services as may be requested from time to time by the Service Recipient in connection with filings by the Service Recipient with any Governmental Authority
of any periodic or other reports required to be filed by such Service Recipient under the provisions of any government rule applicable to it, including any filings or reports required under the U.S. Securities Exchange Act of 1934, as amended, and
in connection with maintaining compliance with all permits, licenses and governmental approvals necessary or desirable for the conduct of such Person’s respective business. Such services may include but shall not be limited to preparing any
application, filing or notice relating thereto. 
  

	 11.
	 Investor and Public Relations 

The Service Provider shall provide such support services as may be requested from time to time by the Service Recipient
relating to investor and public relations matters of Parent and its subsidiaries. 
  

	 12.
	 Human Resources 

 The Service Provider shall provide and make available as necessary all professional, 

  
 A-3

 
supervisory, managerial, administrative and other personnel as are necessary to perform its obligations hereunder, which personnel may be employees of the Service Provider or any of its
affiliates, or third parties. Such personnel shall be qualified and experienced in the duties to which they are assigned. In addition, the Service Provider shall provide such support and assistance to the Service Recipient as may be requested from
time to time in connection with the human resources matters of the Service Recipient, including but not limited to: 
 Payroll Administrative:   Check and direct deposit processing; vacation tracking and processing; tax set up, reporting, and compliance; W2 processing; and payroll accounting.

 COBRA Administration:  Administration of continued medical, dental and vision coverage
pursuant to COBRA for those existing employees of the Business as of the Effective Date. 
 Solution
Center:  Payroll and benefit call center to the extent that employees have benefits pursuant to COBRA. 
 Communications:  Employee communications and public relations. 
  

	 13.
	 Strategic Planning and Business Development 

The Service Provider shall provide such support services as may be requested form time to time by the Service Recipient
relating to strategic planning and business development matters of the Service Recipient. 
  

	 14.
	 Corporate Finance Services 

The Service Provider shall provide such support services as may be requested form time to time by the Service Recipient
relating to corporate finance matters of the Service Recipient, including but not limited to: 
 Finance
Management:  Corporate and Operating Group strategy development; mergers, acquisitions, joint ventures, and other business combination facilitation. 

Planning and Analysis: Corporate monthly reporting, forecasting and budgeting; facilitation of capital
initiatives; consolidated financials, forecasts and budgets; technical accounting support and external audit facilitation; allocations. 
 Sourcing:  Vendor management; purchase order management. 
 Audit & Risk Management:  Finance, information technology, and operation audits; security; business continuity safety and loss prevention; claims management; risk financing;
certificates of insurance. 
  

	 15.
	 Library and Record Services 

The Service Provider shall provide a technical library, with information, research and business news services for the use
of the Service Recipient. The Service Provider shall also perform management of records, including transfer of information to an archiving storage medium, arranging safe storage, cataloguing of information, and ensuring compliance with

  
 A-4

 
established document retention policies. 
  

	 16.
	 Procurement 

 The Service Provider shall provide such support services as may be requested from time to time by the Service Recipient relating to procurement matters of the Service Recipient. 

 

	 17.
	 Other 

 The Service Provider shall provide such other assistance or services relating to the conduct of the Service Recipient’s business as may be requested from time to time by the Service Recipient.

  
 A-5

 Schedule B 
 Sales and Marketing Services 
 Term: 

Scope:         Each Service Provider providing Administrative Services to any Service
Recipient shall provide all sales and marketing services to the Service Recipient as the Service Recipient may from time to time request from the Service Provider, including without limitation the following: 

 

	 1.
	 Sales and Marketing 

 The Service Provider shall provide such support services as may be requested from time to time by the Service Recipient relating to sales and marketing matters. 

 

	 2.
	 Other 

 The Service Provider shall provide such other assistance or services relating to the conduct of the Service Recipient’s business as may be requested from time to time by the Service Recipient.

  
 B-1

 Schedule C 
 Technical Services 
 Term: 

Scope:  Each Service Provider providing Administrative Services to any Service Recipient shall provide such support
services as may be requested from time to time by the Service Recipient relating to information technology matters of the Service Recipient. Such support services may include but shall not be limited to: 

1.   Computer/ Software Support 

Provision of computer equipment, software development and maintenance and other software or services necessary or
appropriate for the conduct of the business of the Service Recipient 
 2.   Information
Security 
 Establishing policies, implementing the necessary systems, enforcing the policies and analyze
any security violations for the Service Recipient’s information assets, including maintaining protection against any virus that may impact the Service Recipient’s computer systems. 

3.   Infrastructure and Corporate Office Communications 

designing, implementing and managing the communications systems required to interconnect the various ground segment and
local area network functions within the Service Recipient’s office and corporate office facilities for business and technical operation purposes. 
 4.   Servers / Mainframe / Infrastructure 

Support of NT/Unix database, application, and utility servers and mainframe services. Database support, storage
management, capacity planning, configuration planning, change management, production control and scheduling, and technical support 
 5.   Network Services (Voice & Data) 
 Support of Wide Area Network (“WAN”). Local Area Network (“LAN”), voice networks (standard voice, conferencing, mobile handhelds and contract), voice and data moves, adds
and changes (“MACS”), voice, web and cellular voice 
 6.   End User
Computing 
 Support of workstations, software and configurations. Installations, moves, adds, and changes
(“IMACS”), operational support, electronic software distribution, software and configuration management, and remote system management 

  
 C-1

 7.   Application Development & Maintenance

 Support of core systems (primarily Oracle and PeopleSoft), including application planning and analysis,
design/build, testing, implementation, maintenance and support 
 8.   Cross Functional IT
Services 
 Support and management of maintenance contracts, equipment and software, including license
management and compliance, asset inventory, asset refresh planning and IT procurement services. Also includes security framework and compliance, disaster recovery for supported services, help desk support for infrastructure, the office of the CIO,
BPO transition charges, midrange, and architecture strategy support. 

  
 C-2

 Schedule D 
 Intellectual Property Licenses 
 Term: 

Scope:              Each Service Provider providing
Administrative Services to any Service Recipient shall provide all intellectual property license services to the Service Recipient as the Service Recipient may from time to time request from the Service Provider, including without limitation the
following: 

  
 D-1

 Schedule E 
 Other Licenses 
 Term: 

Scope:              Each Service Provider providing
Administrative Services to any Service Recipient shall provide all license services to the Service Recipient as the Service Recipient may from time to time request from the Service Provider, including without limitation the following: 

  
 E-1

 Schedule F 
 Air Travel Services 
 Term: 

Scope:              Each Service Provider providing
Administrative Services to any Service Recipient shall provide all air travel services to the Service Recipient as the Service Recipient may from time to time request from the Service Provider, including without limitation the following: 

1.   Air Travel Services 

The Service Provider shall arrange air travel (including ticketing services related thereto) in conjunction with those
cruises and/or cruisetours organized by the Service Recipients for the Service Recipient’s passengers and guests, as requested from time to time by the Service Recipient from time to time. 

2.   Other 
 The Service Provider shall provide such other air travel services relating to the conduct of the Service Recipient’s business as may be requested from time to time by the Service Recipient.

  
 F-1

 Schedule G 
 Service Providers and Service Recipients 
 Service Providers

 CCH 
 OCI 
 PCAS 

Service Recipients 
 CCH 
 OCI 

OC IRELAND PCH 
  

 

			
	 Abbreviation
	  	 Legal
Name

	 CCH
	  	 CLASSIC CRUISES HOLDINGS S. DE R.L.

	 OCI
	  	 OCEANIA CRUISES, INC.

	 OC IRELAND
	  	 OCEANIA CRUISES IRELAND LTD

	 PCH
	  	 PRESTIGE CRUISE HOLDINGS, INC.

	 PCAS
	  	 PRESTIGE CRUISES AIR SERVICES, INC.

  
 G-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00200-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00200-of-00352.parquet"}]]