Document:

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                                                                   EXHIBIT 10.15

November 29, 2004

Janet Astor
9763 Cupola Lane
Eden Prairie, MN 55347

Dear Janet,

I'm very pleased to offer you the position of Vice President of Real Estate &
Store Development. The terms of the agreement are as follows:

START DATE
December 13, 2004.

COMPENSATION:
Your starting salary will be $7,307.70 bi-weekly. You will be classified as an
exempt employee.

VICE PRESIDENT BONUS PROGRAM
As a Vice President, your target bonus potential will be 20% of your base
salary. 50% of your bonus will be based on company objectives and the other 50%
will be based upon mutually agreed upon objectives, which will be established on
or before January 1, 2005.

In addition, you will be eligible for an incremental bonus of 5% of your base
salary. This bonus will be based upon meeting store opening plan goals and
having 80% of stores meet first year sales goals.

As always, Caribou's bonus programs are contingent upon meeting company
objectives and you must be employed on the day checks are cut. Bonus' earned
will be payable to you on or before March 15th.

STOCK OPTIONS
You will be granted 50,000 stock options on December 13, 2004.

MEMBERSHIP FEES
Caribou Coffee Company has agreed to pay the annual membership fees for the
Women's Food Service Group and ICSC.

BENEFITS:
You will be eligible to enroll in Caribou's medical, dental and life insurance
benefits the first of the month following 30 days of employment. You will be
eligible for other benefits such as 401(k) and short and long-term disability as
your years of service at Caribou increase. On your first day, we will provide
enrollment material and further details on each benefit plan.

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POOLED LEAVE:
You will become eligible to accrue pooled leave on the first day of your
employment. However, you may not use any of your accrued leave until you have
completed 6 months of continuous service with Caribou Coffee Company. Pooled
leave will accrue on a per check basis if you were paid for at least 64 hours.
The schedule below shows how you will accrue pooled leave in detail:

<Table>
<Caption>
  YEARS OF SERVICE      DAYS OF POOLED LEAVE   ACCRUAL RATE     MAXIMUM POOLED
                              PER YEAR         PER PAYCHECK       LEAVE BANK
-------------------------------------------------------------------------------
<S>                     <C>                    <C>              <C>
    0-48 MONTHS                  12              3.7 HOURS         100 HOURS
-------------------------------------------------------------------------------
  49 MONTHS AND UP               18             5.54 HOURS         160 HOURS
-------------------------------------------------------------------------------
</Table>

An unpaid leave of absence will be granted for your already scheduled vacation
from December 22, 2004 through January 2, 2005.

NEXT REVIEW:
All employees at the Support Center are reviewed with an opportunity for a merit
increase in March of each year. That review considers your performance for the
calendar year. For any employee starting during that year, his or her merit
increase will be prorated to reflect the length of time in the position.

EMPLOYEE NON-DISCLOSURE, NON-COMPETE AND NON-SOLICITATION AGREEMENT:
This offer of employment is contingent upon you signing the Employee
Non-Disclosure, Non-Compete and Non-Solicitation Agreement on your first day of
employment. That agreement includes various provisions, some of which restrict
certain types of competition designed to protect Caribou Coffee Company, its
confidential information and trade secrets. A copy of this agreement is enclosed
for your review.

BACKGROUND AND REFERENCE CHECKS:
Please note that this offer is contingent upon, and may be rescinded if any
adverse or untruthful information is found during a routine background check and
reference checks.

AT WILL EMPLOYER:
We ask that you understand that while we hope you will always enjoy working with
Caribou, you always have the right to terminate your employment at any time, for
any reason, without advance notice. Similarly, Caribou reserves the right to
terminate your employment at any time, for any reason, without notice or cause.

If you have any questions or concerns about your first day or our offer, please
contact me at (763)592-2216. Otherwise, I look forward to having you on board
the Caribou Team!

Sincerely,

Karen McBride
Vice President of Human Resources<PAGE>
                                                                   EXHIBIT 10.16

                               SEVERANCE AGREEMENT

THIS SEVERANCE AGREEMENT ("Agreement") is made as of December 13th, 2004, by and
between Caribou Coffee Company, Inc., 3900 Lakebreeze Avenue North, Minneapolis,
MN 55429 ("Employer" or the "Company") and Janet Astor, 9763 Cupola Lane, Eden
Prairie, MN 55347 ("Employee").

WHEREAS, Employer has offered an employment position to Employee as Vice
President of Real Estate and Store Development, pursuant to the offer letter,
dated November 29, 2004 (the "Offer Letter"); and

WHEREAS, Employee has accepted Employer's offer of employment pursuant to the
Offer Letter, subject to Employer's agreement to provide a severance arrangement
as set forth in this Agreement; and

WHEREAS, Employee will commence her employment on December 13, 2004.

NOW, THEREFORE, in consideration of the mutual covenants and obligations
hereinafter set forth, the parties agree as follows:

1. Term. This Agreement shall run for a period of two (2) years commencing on
December 13, 2004.

2. Triggering Termination. In consideration of Employee's agreement to accept
employment pursuant to the terms of the Offer Letter, Employer agrees that in
the event of a Triggering Termination (as defined below) of Employee during the
Term of this Agreement, then in addition to all other compensation due and
payable to Employee as of the date of such termination, Employer agrees to pay
the Severance Payment to Employee, subject to the conditions contained in
Paragraph 6 herein. For purposes of this Agreement a Triggering Termination
shall be a termination that is not For Cause or is Involuntary (as defined
below). The parties understand and agree that no Severance Payment shall be due
or payable hereunder unless Employee's termination is a Triggering Termination
and Employee complies with Paragraph 6 herein.

3. For Cause. For purposes of this Agreement, "For Cause" means:

(i) the Employee has engaged in gross negligence or gross misconduct, including
willful and material failure to perform the Employee's duties as an officer or
employee of the Company and, in the event that the gross negligence or gross
misconduct is capable of being cured, Employee's failure to cure such default
within thirty (30) days after receipt of written notice of default from the
Company;

(ii) the Employee has committed fraud, misappropriation, breach of fiduciary
duty, or embezzlement in connection with the Company's business;

<PAGE>

(iii) the Employee has committed any criminal felony;

(iv) Employee's abandonment of her employment with the Company;

(v) If, during the first year of this Agreement, Employee becomes unable (as
determined by the Company in good faith) to regularly perform her duties
hereunder by reason of illness or incapacity for a period of more than three (3)
consecutive months; or

(vi) If, during the second year of this Agreement, Employee becomes unable (as
determined by the Company in good faith) to regularly perform her duties
hereunder by reason of illness or incapacity for a period of more than six (6)
consecutive months.

4. Constructive Termination. The parties agree that a termination shall be
deemed "Involuntary" in the event that:

(i) the Company has breached any provision of this Agreement and, in the event
that the breach is capable of being cured, Employer's failure to cure such
breach within thirty (30) days after receipt of written notice of default from
Employee;

(ii) the Company significantly and adversely changes the terms of Employee's
employment from those set forth in the Offer Letter and, in the event that the
changes are capable of being cured or remedied, Employer's failure to cure or
remedy such changes within fifteen (15) days after receipt of written notice of
default from Employee; or

(iii) the Company requires Employee to relocate her employment outside of the
seven-county metro area of Minneapolis/St. Paul.

5. Severance Payment. The Severance Payment shall be an amount equal to six
months of the Employee's salary, calculated at the rate of $190,000 per year or
Employee's base salary at the time of termination, whichever is greater. The
Severance Payment shall be paid, at Employer's option, in a lump sum at the time
of termination or in bi-weekly installments in accordance with Employer's normal
compensation schedule. The Severance Payment shall be subject to all applicable
employee withholding taxes, and Employee will be responsible for all applicable
taxes associated with the Severance Payment.

6. Release. In the event of a Triggering Termination, Employer shall only be
required to make the Severance Payment if and only after Employee signs the
Release attached hereto as Exhibit A on or within 21 days following her last
date of employment and does not rescind the Release within 15 days after signing
it.

7. Notices. All notices, demands and communications required, desired or
permitted to be given hereunder shall be in writing and shall be deemed to have
been duly given on the date received, if delivered personally, or on the third
day after mailing, if sent by registered or certified mail, return receipt
requested, postage prepaid, and addressed to

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<PAGE>

the parties at the addresses set forth below or to such other person at such
location as either party hereto may subsequently designate in a similar manner.

8. Construction of Agreement. This Agreement shall be interpreted, construed and
governed by and under the laws of the State of Minnesota, and the parties
unconditionally submit to the jurisdiction of the courts located in the State of
Minnesota in all matters relating to or arising from this Agreement.

9. Entire Agreement. This Agreement contains the entire agreement between the
parties hereto with respect to the subject matter hereof, and there are no
understandings, representations or warranties of any kind between the parties
except as expressly set forth herein. This Agreement may not be modified except
by a writing duly signed by both parties hereto.

10. Employee's Breach of Employee Non-Disclosure, Non-Compete and Non-
Solicitation Agreement. To the extent that Employee has breached an obligation
contained in Employee's Non-Disclosure, Non-Compete and Non-Solicitation
Agreement ("Employee Agreement"), including and without limitation Sections 2,
4, 5 or 6 of the Employee Agreement, all amounts paid to Employee under this
Agreement will be forfeited and returned to Employer as part of Employer's
remedy, and no additional payments shall be made to Employee under this
Agreement. This remedy is in addition to, and not in lieu of, any remedies
available under the Employee Agreement

11. Arbitration. Any controversy or claim arising out of or relating to this
Agreement or the breach of this Agreement, with the exception of any claim,
counterclaim or controversy arising out of or relating to Section 10 herein,
shall be settled by arbitration in accordance with the Commercial Arbitration
Rules of the American Arbitration Association, and a judgment upon the award
rendered by the arbitrator(s) may be entered in any court having jurisdiction
thereof. A single arbitrator shall be selected by the parties or their
representatives, if they can agree, otherwise, as provided in Chapter 572
Minnesota Statutes (the "Act"), as the Act is amended at the time of submission
of the issue to arbitration. The arbitration award shall be subject to review
only in the manner provided in the Act. The arbitrator(s) shall award the
prevailing party its costs and reasonable attorney's fees which shall be paid by
the non-prevailing party. Any arbitration proceeding will take place in
Minneapolis or St. Paul, Minnesota and will be governed by the Minnesota Rules
of Civil Procedure. All discovery must be completed no later than twenty (20)
days before the hearing date and the arbitration proceeding must be completed
within ninety days (90) days of the commencement of the arbitration proceedings.
The arbitrator(s) will decide any pre-hearing motions.

The parties hereto have executed this Agreement as of the date first set forth
above.

"EMPLOYER"
CARIBOU COFFEE COMPANY, INC.                    "EMPLOYEE"

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<PAGE>

/s/                                        /s/ Janet D. Astor
--------------------------------           ------------------------------------
By:                                        Janet Astor
Its: VP of HR 12-14-04

                                    EXHIBIT A

                             RELEASE BY JANET ASTOR

DEFINITIONS. I intend all words used in this Release to have their plain
meanings in ordinary English. Specific terms that I use in this Release have the
following meanings:

         A.       I, me, and my include both me and anyone who has or obtains
                  any legal rights or claims through me.

         B.       CARIBOU means CARIBOU COFFEE COMPANY, INC., any company
                  related to CARIBOU COFFEE COMPANY, INC. in the present or past
                  (including without limitation, its predecessors, parents,
                  subsidiaries, affiliates, joint venture partners, and
                  divisions), and any successors of CARIBOU COFFEE COMPANY, INC.

         C.       Company means Caribou, the present and past officers,
                  directors, committees, shareholders, and employees of Caribou;
                  the present and past fiduciaries of any employee benefit plan
                  sponsored or maintained by Caribou (other than multi-employer
                  plans); the attorneys for Caribou; and anyone who acted on
                  behalf of Caribou or on instructions from Caribou.

         D.       Severance Agreement means the Severance Agreement between
                  Caribou and me dated December __, 2004, including all of the
                  documents attached to the Severance Agreement.

         E.       My Claims mean all of my rights that I now have to any relief
                  of any kind from the Company, including without limitation:

                  1.       all claims arising out of or relating to my
                           employment with Caribou or the termination of that
                           employment;

                  2.       all claims arising out of or relating to the
                           statements, actions, or omissions of the Company;

                  3.       all claims for any alleged unlawful discrimination,
                           harassment, retaliation or reprisal, or other alleged
                           unlawful practices arising under any federal, state,
                           or local statute, ordinance, or regulation, including
                           without limitation, claims under Title VII of the
                           Civil Rights Act of 1964, the Age Discrimination in
                           Employment Act, the Americans with Disabilities Act,
                           42 U.S.C. Section 1981, the Employee Retirement
                           Income Security Act, the Equal Pay Act, the

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<PAGE>

                           Worker Adjustment and Retraining Notification Act,
                           the Minnesota Human Rights Act, the Fair Credit
                           Reporting Act, and workers' compensation
                           non-interference or non-retaliation statutes (such as
                           Minn. Stat. Section 176.82);

                  4.       all claims for alleged wrongful discharge; breach of
                           contract; breach of implied contract; failure to keep
                           any promise; breach of a covenant of good faith and
                           fair dealing; breach of fiduciary duty; estoppel; my
                           activities, if any, as a "whistleblower"; defamation;
                           infliction of emotional distress; fraud;
                           misrepresentation; negligence; harassment;
                           retaliation or reprisal; constructive discharge;
                           assault; battery; false imprisonment; invasion of
                           privacy; interference with contractual or business
                           relationships; any other wrongful employment
                           practices; and violation of any other principle of
                           common law;

                  5.       all claims for compensation of any kind, including
                           without limitation, bonuses, commissions, stock-based
                           compensation or stock options, vacation pay, and
                           expense reimbursements;

                  6.       all claims for back pay, front pay, reinstatement,
                           other equitable relief, compensatory damages, damages
                           for alleged personal injury, liquidated damages, and
                           punitive damages; and

                  7.       all claims for attorneys' fees, costs, and interest.

                  However, My Claims do not include any claims that the law does
                  not allow to be waived, any claims that may arise after the
                  date on which I sign this Release, or any claims for
                  indemnification under the charter documents of the Company or
                  under any applicable state or federal statute.

AGREEMENT TO RELEASE MY CLAIMS. I will receive consideration from Caribou as set
forth in the Severance Agreement if I sign and do not rescind this Release as
provided below. I understand and acknowledge that that consideration is in
addition to anything of value that I would be entitled to receive from Caribou
if I did not sign this Release or if I rescinded this Release. In exchange for
that consideration I give up and release all of My Claims. I will not make any
demands or claims against the Company for compensation or damages relating to My
Claims. The consideration that I am receiving is a fair compromise for the
release of My Claims.

ADDITIONAL AGREEMENTS AND UNDERSTANDINGS. Even though Caribou will provide
consideration for me to settle and release My Claims, the Company does not admit
that it is responsible or legally obligated to me. In fact, the Company denies
that it is responsible or legally obligated to me for My Claims, denies that it
engaged in any unlawful or improper conduct toward me, and denies that it
treated me unfairly.

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<PAGE>

ADVICE TO CONSULT WITH AN ATTORNEY. I understand and acknowledge that I am
hereby being advised by the Company to consult with an attorney prior to signing
this Release and I have done so. My decision whether to sign this Release is my
own voluntary decision made with full knowledge that the Company has advised me
to consult with an attorney.

PERIOD TO CONSIDER THE RELEASE. I understand that I have 21 days following my
last day of employment with the Company to consider whether I wish to sign this
Release. If I sign this Release before the end of the 21-day period, it will be
my voluntary decision to do so because I have decided that I do not need any
additional time to decide whether to sign this Release.

MY RIGHT TO RESCIND THIS RELEASE. I understand that I may rescind this Release
at any time within 15 days after I sign it, not counting the day upon which I
sign it. This Release will not become effective or enforceable unless and until
the 15-day rescission period has expired without my rescinding it.

PROCEDURE FOR ACCEPTING OR RESCINDING THE RELEASE. To accept the terms of this
Release, I must deliver the Release, after I have signed and dated it, to
Caribou by hand or by mail within the 21-day period that I have to consider this
Release. To rescind my acceptance, I must deliver a written, signed statement
that I rescind my acceptance to Caribou by hand or by mail within the 15-day
rescission period. All deliveries must be made to Caribou at the following
address:

                                Karen McBride
                                Vice President of Human Resources
                                Caribou Coffee Company, Inc.
                                3900 Lakebreeze Avenue North
                                Minneapolis, MN 55429

If I choose to deliver my acceptance or the rescission of my acceptance by mail,
it must be (1) postmarked within the period stated above; and (2) properly
addressed to Caribou at the address stated above.

INTERPRETATION OF THE RELEASE. This Release should be interpreted as broadly as
possible to achieve my intention to resolve all of My Claims against the
Company. If this Release is held by a court to be inadequate to release a
particular claim encompassed within My Claims, this Release will remain in full
force and effect with respect to all the rest of My Claims.

MY REPRESENTATIONS. I am legally able and entitled to receive the consideration
being provided to me in settlement of My Claims. I have not been involved in any
personal bankruptcy or other insolvency proceedings at any time since I began my
employment with Caribou. No child support orders, garnishment orders, or other
orders requiring that money owed to me by Caribou be paid to any other person
are now in effect

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<PAGE>

I have read this Release carefully. I understand all of its terms. In signing
this Release, I have not relied on any statements or explanations made by the
Company except as specifically set forth in the Severance Agreement. I am
voluntarily releasing My Claims against the Company. I intend this Release and
the Letter Agreement to be legally binding.

Dated:
       -------------------------                ------------------------------
                                                           Janet Astor

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