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EXHIBIT 10.11    
  

AGREEMENT  

[Amended
Form of Change-in-Control Agreements for Other Officers] 

        AGREEMENT
by and among Adolph Coors Company, a Colorado corporation ("ACC"), Coors Brewing Company, a Colorado corporation ("CBC") (ACC and CBC are hereinafter individually and
collectively referred to as the "Company"), and            (the "Executive"), dated as of June 1, 2002. 

        The
Executive is employed by the Company. The Board of Directors of the Company (the "Board") has determined that it is in the best interests of the Company and its stockholders to
assure that the Company will have the continued dedication of the Executive, in the event of the threat or occurrence of a Change of Control (as defined below) of the Company. The Board believes that
it is important to diminish the distraction of the Executive from Company business because of personal uncertainties and risks created by a pending or threatened Change of Control and to encourage the
Executive's full attention and dedication to the Company currently and in the event of any threatened or pending Change of Control. 

        The
parties agree as follows: 

        1.    Certain Definitions.    

        (a)  The
"Effective Date" shall mean the first date on which a Change of Control (as defined in Section 2) occurs during the Term (as defined in Section 1(b)). 

        (b)  The
"Term" shall mean the period commencing on the date hereof and ending on the second anniversary of the date hereof; provided, however, that commencing on the date
one year after the date hereof, and on each annual anniversary of such date (such date and each annual anniversary thereof shall be hereinafter referred to as the "Renewal Date"), unless previously
terminated, the Term shall be automatically extended so as to terminate two years from such Renewal Date, unless at least 60 days prior to the Renewal Date the Board shall give notice to the
Executive that the Term not be so extended. Notwithstanding notice to the Executive that the Term shall not be extended, if a Change of Control occurs prior to the expiration of the Term, then the
Term shall be automatically extended so as to expire two years from the date of such Change of Control. 

        2.    Change of Control.    For the purposes of this Agreement, a "Change of Control" shall occur if: 

        (a)  a
Person or Persons become(s) the direct or indirect Beneficial Owner of more than 20% of the total voting power of the Voting Stock of the Company at a time when the
Existing Shareholder does not hold more than 50% of the voting power of the Voting Stock of the Company, provided that any such acquisition of beneficial ownership of Voting Stock by any of the
following Persons shall not by itself constitute a Change of Control hereunder: (i) the Company or one of its wholly-owned subsidiaries or (ii) any employee benefit plan (or related
trust) sponsored or maintained by the Company or one of its wholly-owned subsidiaries; 

        (b)  the
Company consummates a merger, reorganization, recapitalization, joint venture, consolidation, share exchange, business combination or similar form of corporate
transaction involving the Company (each, a "Business Combination") unless, immediately following such Business Combination, more than 50% of the voting power of the then outstanding Voting Stock of
the Person resulting from consummation of such Business Combination (including, without limitation, any parent or ultimate parent corporation of such Person that as a result of such transaction owns
directly or indirectly the Company and all or substantially all of the Company's assets) is held by the Existing Shareholder. 

        (c)  individuals
who constitute the Board (the "Incumbent Directors") cease for any reason to constitute at least a majority of the Board, provided that any person becoming a
director subsequent to February 14, 2002, whose election or nomination for election was approved by a 

 

vote of at least two-thirds of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a
nominee for director, without written objection to such nomination) shall be an Incumbent Director; provided,  however, that no individual initially elected
or nominated as a director of the Company as a result of an actual or threatened election contest with
respect to directors or as a result of any other actual or
threatened solicitation of proxies or consents by or on behalf of any Person other than the Board shall be deemed to be an Incumbent Director; or 

        (d)  the
shareholders of the Company approve a dissolution or liquidation involving all or substantially all of the Company's assets, or the Company consummates the sale of
all or substantially all of the Company's assets to a Person, unless more than 50% of the voting power of the Voting Stock of such Person is held directly or indirectly by the Existing Shareholder. 

        (e)  For
purposes of this Section 2, the following definitions shall apply: 

          (i)  "Beneficial Owner and Beneficially Own" shall mean beneficial ownership as defined in Rules 13d-3 and
13d-5 under the Exchange Act, except that a person shall be deemed to beneficially own all securities that such person has the right to acquire, whether such right is exercisable
immediately or only after the passage of time. 

        (ii)  "Company Common Stock" shall mean the Company's Class A Common Stock and Class B Common Stock and any
other common stock (whether voting or non-voting) that may be hereafter issued by the Company. 

        (iii)  "Exchange Act" shall mean the Securities Exchange Act of 1934, as amended. 

        (iv)  "Existing Shareholder" shall mean the Adolph Coors, Jr. Trust and any successor trust thereto the primary beneficiaries
of which are descendants of Adolph Coors, Sr. 

        (v)  "Person" shall mean any individual, corporation, entity or group (within the meaning of Section 13(d)(3) or
14(d)(2) of the Exchange Act). 

        (vi)  "Voting Stock" shall mean any and all shares, interests, participations, rights in or other equivalents of capital stock
and warrants or options exchangeable for or convertible into such capital stock which ordinarily have the power to vote for the election of directors, managers or other voting members of the governing
body (the "Governing Board") of a Person. 

        3.    Employment Period.    The Company hereby agrees to continue the Executive in its employ, and the Executive
hereby agrees to remain in the employ of the Company subject to the terms and conditions of this Agreement, for the period commencing on the Effective Date and ending on the second anniversary of such
date (the "Employment Period"). 

        4.    Terms of Employment.    

        (a)  Position and Duties.

          (i)  During
the Employment Period, (A) the Executive's position (including status, offices, titles and reporting requirements), total enterprise-wide
scope (if Executive is an officer of ACC), authority, duties and responsibilities shall be commensurate in all material respects with the most significant of those held, exercised and assigned at any
time during the one year period immediately preceding the Effective Date and (B) the Executive's services shall be performed at the location where the Executive was employed preceding the
Effective Date or any office or location less than thirty-five miles from such location. 

        (ii)  During
the Employment Period, and excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive agrees to devote reasonable
attention and 

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time during normal business hours to the business and affairs of the Company and to discharge the responsibilities assigned to the Executive hereunder. During the Employment Period Executive may
(A) serve on civic or charitable boards or committees of not for profit or similar organizations, (B) teach, and (C) manage personal investments, so long as such activities do not
significantly interfere with the performance of the Executive's responsibilities as an employee of the Company in accordance with this Agreement. To the extent that any such activities have been
conducted by the Executive and by other executives of the Company prior to the Effective Date, the continued conduct of such activities (or the conduct of activities similar in nature and scope
thereto) subsequent to the Effective Date shall not thereafter be deemed to interfere with the performance of the Executive's responsibilities to the Company. 

        (b)  Compensation.

          (i)  Base Salary. During the Employment Period, the Executive shall receive an annual base salary ("Annual Base Salary"),
which shall be paid at a monthly rate, at least equal to twelve times the highest monthly base salary paid or payable, including any base salary which has been earned but deferred, to the Executive by
the Company and its affiliated companies in respect of the twelve-month period immediately preceding the month in which the Effective Date occurs. During the Employment Period, the Annual Base Salary
shall be reviewed no more than twelve months after the last salary increase awarded to the Executive prior to the Effective Date and thereafter at least annually. Any increase in Annual Base Salary
shall not serve to limit or reduce any other obligation to the Executive under this Agreement. Annual Base Salary shall not be reduced after any such increase and the term Annual Base Salary as
utilized in this Agreement shall refer to Annual Base Salary as so increased. As used in this Agreement, the term "affiliated companies" shall include any company controlled by, controlling or under
common control with the Company. 

        (ii)  Annual Bonus. In addition to Annual Base Salary, the Executive shall be entitled to participate, with respect to each
fiscal year ending during the Employment Period, in the Company's Management Incentive Compensation Plan, or any comparable successor plans, under terms (including measures of performance, targets and
payout potential) at least as favorable as the terms under such bonus plan as in effect during the Company's fiscal year ending immediately prior to the Effective Date (the "Annual Bonus"). Each such
Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the end of the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect
to defer the receipt of such Annual Bonus. 

        (iii)  Incentive, Savings and Retirement Plans. During the Employment Period, the Executive shall be entitled to participate
in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such
plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such
distinction is applicable), savings opportunities or retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its
affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if
more favorable to the Executive, those provided generally during the two year Employment Period following the Effective Date to other peer executives of the Company and its affiliated companies. 

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        (iv)  Stock Options and Other Equity Grants. During each year of the Employment Period, the Executive shall receive either
(A) stock option grants pursuant to the Company's 1990 Equity Incentive Plan or any successor plan for each fiscal year ending during the Employment Period equal to the highest number and value
to those granted to Executive for any of the three (3) fiscal years prior to the Effective Date (the "Stock Option / RSO Valuation"), or (B) if such Plan or Plans do not exist, then an
amount in cash equal to the Stock Option / RSO Valuation Amount. In addition, during the Employment Period, the Executive shall receive restricted stock grants pursuant to the Company's 1990 Equity
Incentive Plan or any successor plan for each fiscal year during the Employment Period equal to the highest number and value to those granted to Executive for any of the three (3) fiscal years
prior to the Effective Date (the "Stock Option / RSO Valuation"), or (B) if such Plan or Plans do not exist, then an amount in cash equal to the Stock Option / RSO Valuation Amount. 

        (v)  Welfare Benefit Plans. During the Employment Period, the Executive and/or the Executive's family, as the case may be,
shall be eligible for participation in and shall receive all benefits under welfare benefit plans, practices, policies and programs provided by the Company and its affiliated companies (including,
without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other
peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with benefits which are less favorable, in the
aggregate, than the most favorable of such plans, practices, policies and programs in effect for the Executive at any time during the 120-day period immediately preceding the Effective
Date or, if more
favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies. 

        (vi)  Expenses. During the Employment Period, the Executive shall be entitled to receive prompt reimbursement for all
reasonable expenses incurred by the Executive in accordance with the most favorable policies, practices and procedures of the Company and its affiliated companies in effect for the Executive at any
time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer
executives of the Company and its affiliated companies. 

      (vii)  Fringe Benefits. During the Employment Period, the Executive shall be entitled to fringe benefits, or cash payments in
lieu of such fringe benefits, including but not limited to, tax and financial planning services, payment of club dues, use of an automobile and payment of related expenses, in accordance with the most
favorable plans, practices, programs and policies of the Company and its affiliated companies in effect for the Executive at any time during the 120-day period immediately preceding the
Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies. 

      (viii)  Office and Support Staff. During the Employment Period, the Executive shall be entitled to an office or offices of a
size and with furnishings and other appointments, and to exclusive personal secretarial and other assistance, at least equal to the most favorable of the foregoing provided to the Executive by the
Company and its affiliated companies at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, as provided generally at any
time thereafter with respect to other peer executives of the Company and its affiliated companies. 

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        (ix)  Vacation. During the Employment Period, the Executive shall be entitled to paid vacation in accordance with the most
favorable plans, policies, programs and practices of the Company and its affiliated companies as in effect for the Executive at any time during the 120-day period immediately preceding the
Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies. 

        (x)  Retirement Plan. On the Effective Date, the Company shall credit Executive with additional years of vesting service and
an equal number of years of benefit service (but not for age) for Executive to receive benefits under the Coors Retirement Plan and any other supplemental or other retirement or pension plan
maintained by the Company applicable to Executive or any successor(s) to the Coors Retirement Plan or such other plans (individually and collectively, the "Retirement Plans"). 

        5.    Termination of Employment.    

        (a)  Death or Disability. The Executive's employment shall terminate automatically upon the Executive's death during the
Employment Period. If the Company determines in good faith that the Disability of the Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it
may give to the Executive written notice in accordance with Section 12(b) of this Agreement of its intention to terminate the Executive's employment. In such event, the Executive's employment
with the Company shall terminate effective on the 30th day after receipt of such notice by the Executive (the "Disability Effective Date"), provided that, within the thirty days after such receipt,
the Executive shall not have returned to full-time performance of the Executive's duties. For purposes of this Agreement, "Disability" shall mean the absence of the Executive from the
Executive's duties with the Company on a full-time basis for 180 consecutive business days as a result of incapacity due to mental or physical illness which is determined to be a
disability pursuant to the Company's then existing Long Term Disability Plan or, in the absence of such a plan, a disability determined to be total and permanent by a physician selected by the Company
and acceptable to the Executive or the Executive's legal representative. 

        (b)  Cause. The Company may terminate the Executive's employment during the Employment Period for Cause. For purposes of this
Agreement, "Cause" shall mean: 

          (i)  the
willful and continued failure of the Executive to perform substantially the Executive's duties with the Company or one of its affiliates (other than any such
failure resulting from incapacity due to physical or mental illness), after a written demand for substantial performance is delivered to the Executive by the Board which specifically identifies the
manner in which the Board believes that the Executive has not substantially performed the Executive's duties, or 

        (ii)  the
willful engaging by the Executive in illegal conduct or gross misconduct which is a violation of fiduciary duties or is materially and demonstrably injurious to the
Company. 

For
purposes of this provision, no act or failure to act, on the part of the Executive, shall be considered "willful" unless it is done, or omitted to be done, by the Executive in bad faith or without
reasonable belief that the Executive's action or omission was in the best interests of the Company. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the
Board, or upon the instructions of the Chief Executive Officer of the Company, or based upon the advice of counsel for the company shall be conclusively presumed to be done, or omitted to be done, by
the Executive in good faith and in the best interests of the Company. The cessation of employment of the Executive shall not be deemed to be for Cause unless and until there shall have been delivered
to the Executive a copy of a resolution duly adopted by the affirmative vote of not less than three quarters of the entire membership of the Board at a 

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meeting of the Board called and held for such purpose (after reasonable notice is provided to the Executive and the Executive is given an opportunity, together with counsel, to be heard before the
Board), finding that, in the good faith opinion of the Board, the Executive is guilty of the conduct described in subparagraph (i) or (ii) above, and specifying the particulars thereof
in detail. The Company must notify the Executive of any event constituting Cause within ten (10) days following the Company's knowledge of its existence or such event shall not constitute Cause
under this Agreement. 

        (c)  Good Reason. The Executive's employment may be terminated by the Executive for Good Reason. For purposes of this
Agreement, "Good Reason" shall mean, without Executive's express written consent, the occurrence of any of the following events: 

          (i)  a
demotion or diminution in rank, title, responsibility or authority, the assignment to the Executive, following the Effective Date, of any duties inconsistent in any
respect with the Executive's position (including status, offices, titles and reporting requirements), authority, duties or responsibilities as contemplated by Section 4(a) of this Agreement, or
any other action by the Company which results in a diminution in such position, authority, duties or responsibilities, excluding for this purpose an isolated, insubstantial and inadvertent action not
taken in bad faith and which is remedied by the Company within ten (10) days after receipt of such notice thereof given by the Executive; 

        (ii)  any
failure by the Company to comply with any of the provisions of Section 4(b) of this Agreement, including but not limited to the failure by the Company to pay
the Executive any portion of his compensation, or to provide an Annual Bonus under terms (including but not limited to measures, targets and payout potential) at least as favorable as the terms for
such Bonus as in effect during the Company's fiscal year immediately prior to the Effective Date or to pay the Executive any portion of an installment of deferred compensation under any deferred
compensation program of the Company when such compensation is due, other than an isolated, insubstantial and inadvertent failure not occurring in bad faith and which is remedied by the Company within
ten (10) days after receipt of notice thereof given by the Executive; 

        (iii)  the
Company's requiring the Executive to be based at any office or location other than as provided in Section 4(a)(i)(B) hereof for more than 60 days
during any twelve consecutive calendar months or the Company's requiring the Executive to travel on Company business to a substantially greater extent than required immediately prior to the Effective
Date; 

        (iv)  any
purported termination by the Company of the Executive's employment otherwise than as expressly permitted by this Agreement; or 

        (v)  any
failure by the Company to comply with and satisfy Section 12(c) of this Agreement. 

        For
purposes of this Section 5(c), any good faith determination of "Good Reason" made by the Executive shall be conclusive. Anything in this Agreement to the contrary
notwithstanding, a termination by the Executive for any reason in the Executive's sole discretion during the thirty-day
period immediately following the first anniversary of the Effective Date shall be deemed to be a termination for Good Reason for all purposes of this Agreement. 

        (d)  Notice of Termination. Any termination by the Company for Cause, or by the Executive for Good Reason, shall be
communicated by Notice of Termination to the other party hereto given in accordance with Section 13(b) of this Agreement. For purposes of this Agreement, a "Notice of Termination" means a
written notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and 

6

 

circumstances claimed to provide a basis for termination of the Executive's employment under the provision so indicated and (iii) if the Date of Termination (as defined below) is other than
the date of receipt of such notice, specifies the termination date (which date shall be not more than thirty days after the giving of such notice). The failure by the Executive or the Company to set
forth in the Notice of Termination any fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of the Executive or the Company, respectively, hereunder or
preclude the Executive or the Company, respectively, from asserting such fact or circumstance in enforcing the Executive's or the Company's rights hereunder. 

        (e)  Date of Termination. "Date of Termination" means (i) if the Executive's employment is terminated by the Company
for Cause, or by the Executive for Good Reason, the date of receipt of the Notice of Termination or any later date up to six months thereafter specified therein, as the case may be, (ii) if the
Executive's employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination or any
later date specified therein within 30 days of such notice and (iii) if the Executive's employment is terminated by reason of death or Disability, the Date of Termination shall be the
date of death of the Executive or the Disability Effective Date, as the case may be. 

        6.    Obligations of the Company upon Termination.    

        (a)  Good Reason; Other Than for Cause, Death or Disability. If, during the Employment Period, the Company shall terminate the
Executive's employment other than for Cause or Disability or the Executive shall terminate employment for Good Reason: 

          (i)  the
Company shall pay to the Executive in a lump sum in cash within ten (10) days after the Date of Termination the aggregate of the following amounts: 

        (A)  the
sum of (1) the Executive's Annual Base Salary (which for this purpose shall include any allowance for perquisites that is paid directly to the Executive)
through the end of the fiscal year containing the Date of Termination; (2) an amount equal to (x) the higher of the target bonus amount or the bonus actually paid to the Executive under
the Company's Management Incentive Compensation
Plan (or any comparable successor plan(s)) for the fiscal year of the Company prior to the Effective Date or (y) the target bonus amount payable to the Executive under such plan(s) for the
fiscal year of the Company which contains the Date of Termination, whichever of (x) or (y) is higher (the "Target Bonus"); and (3) any accrued vacation or other pay not
theretofore paid (the sum of the amounts described in clauses (1), (2), and (3) are herein referred to as the "Accrued Obligations"); and 

        (B)  the
amount equal to the product of (1) two and (2) the sum of (x) the Executive's Annual Base Salary (which for this purpose shall include any
allowance for perquisites that is paid directly to the Executive) and (y) the higher of (aa) the Target Bonus and (bb) the highest annual incentive bonus earned by Executive during the last
three (3) completed fiscal years of the Company immediately preceding Executive's Date of Termination (annualized in the event Executive was not employed by the Company for the whole of any
such fiscal year), with the product of (1) and (2) reduced by the amounts paid, if any, to the Executive under the Company's Severance Pay Plan or pursuant to any other contractual
arrangement with the Executive or plan providing coverage to the Executive as a result of such termination. 

        (ii)  for
twenty-four months after the Executive's Date of Termination or such longer period as may be provided by the terms of the appropriate plan, program,
practice or policy, the Company shall continue benefits to the Executive and/or the Executive's family, including 

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life insurance, at least equal (on an after-tax basis) to those which would have been provided to them in accordance with the plans, programs, practices and policies described in
Section 4(b)(v) of this Agreement if the Executive's employment had not been terminated or, if more favorable to the Executive, as in effect generally at any time thereafter with respect
to other peer executives of the Company and its affiliated companies and their families, provided, however, that if the Executive becomes reemployed with another employer and is eligible to receive
medical or other welfare benefits under another employer-provided plan, the medical and other welfare benefits described herein shall be secondary to those provided under such other plan during such
applicable period of eligibility, but only to the extent that the Company reimburses the Executive for any increased cost and provides any additional benefits necessary to give Executive the benefits
provided hereunder. 

        (iii)  The
Company shall credit Executive for benefit calculation purposes under the Retirement Plans (A) for the balance of the Employment Period and (B) with
two additional years of benefit service, vesting service and age. 

        (iv)  for
twenty-four months following the Date of Termination the Company shall, at its sole expense, reimburse the Executive for the cost (but not in excess of
$25,000 in the aggregate), as incurred, for outplacement services the scope and provider of which shall be selected by the Executive in Executive's sole discretion. 

        (v)  for
twenty-four months following the Date of Termination the Company shall, to the extent not otherwise paid or provided, pay or provide to the Executive,
all other fringe benefits and executive
perquisites provided on the date of this Agreement, or on the Date of Termination to the extent they are more extensive, including, but not limited to, luncheon club dues, annual physical examination,
parking, health club dues, and financial planning assistance ("Other Benefits"); and 

        (vi)  with
respect to any options, restricted stock or other stock based awards held by the Executive pursuant to the Company's Equity Incentive Plan, or any successor plan,
on the Date of Termination all restrictions on awards of restricted stock will be canceled, and all outstanding stock options and stock appreciation rights and other stock based awards that have not
fully vested, shall vest immediately and become fully exercisable and shall not thereafter be forfeitable; provided further that with respect to the Executive's stock options, (i) the options
shall remain exercisable until the earlier of (x) the expiration of the option term or (y) five (5) years after the Date of Termination; (ii) for purposes of option
exercises by the Executive following the Effective Date for the period such options remain exercisable for each share of common stock acquired pursuant to such option exercise, Executive shall be
entitled to a cash payment equal to the excess, if any, of (x) the closing price of one share of the common stock subject to such option as reported in the principal consolidated transaction
reporting system with respect to securities listed or admitted to trading on the New York Stock Exchange, Inc. (the "NYSE") (or, if the securities are not listed or admitted to trading on the
NYSE, as reported in the principal consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on which the securities are listed or
admitted to trading or, if the securities are not listed or admitted to trading on any national securities exchange, as reported by the National Association of Securities Dealers, Inc.
Automated Quotation System or such other system then in use, any such exchange or system an "Other Exchange") on the date of the Change of Control over (y) the closing price of one share of the
common stock on the NYSE or any Other Exchange on the date of exercise; and (iii) if, after a Change of Control occurs, any of the Executive's stock options are not assumed or substituted by
the successor corporation or the common stock (or common stock equivalent, in the case of a non-U.S. entity) for which each such option is exercisable is not traded on the NYSE or any
Other Exchange, then in respect of each such 

8

 

option held by the Executive, the Executive, in exchange for surrendering such options, shall be entitled to an immediate cash payment equal to the Black-Scholes value (determined as of that date,
the date of grant, or the Effective Date, whichever of the foregoing is highest) of each such option as determined by the independent accounting firm that audited the Company's financial statements
prior to the Change of Control, assuming that the option's expected life is the balance of its term. 

        (b)  Death. If the Executive's employment is terminated by reason of the Executive's death during the Employment Period, this
Agreement shall terminate without further obligations to the Executive's legal representatives under this Agreement, other than for payment of Accrued Obligations and the timely payment or provision
of Other Benefits. Accrued Obligations shall be paid to the Executive's estate or beneficiary, as applicable, in a lump sum in cash within thirty days of the Date of Termination. The term Other
Benefits at utilized in this Section 6(b) shall include, without limitation, and the Executive's estate and/or beneficiaries shall be entitled to receive, benefits at least equal to the most
favorable benefits provided by the Company and affiliated companies to the estates and beneficiaries of peer executives of the Company and such affiliated companies under such plans, programs,
practices and policies relating to death benefits, if any, as in effect with respect to other peer executives and their beneficiaries at any time during the 120-day period immediately
preceding the Effective Date or, if more favorable to the Executive's estate and/or the Executive's beneficiaries, as in effect on the date of the Executive's death with respect to other peer
executives of the Company and its affiliated companies and their beneficiaries. Anything in this Agreement to the contrary notwithstanding, if the Executive's
accidental death occurs after the receipt of a Notice of Termination for any termination (i) by the Company other than for Cause or Disability or (ii) by the Executive for Good Reason
and no payments to Executive have been made under Section 6(a), then this Section 6(b) shall not apply and the Executive's estate and/or beneficiaries shall be entitled to the benefits
of Section 6(a). 

        (c)  Disability. If the Executive's employment is terminated by reason of the Executive's Disability during the Employment
Period, this Agreement shall terminate without further obligations to the Executive, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits. Accrued
Obligations shall be paid to the Executive in a lump sum in cash within thirty days of the Date of Termination. The Term "Other Benefits" as utilized in this Section 6(c) shall include, and the
Executive shall be entitled after the Disability Effective Date to receive, disability and other benefits at least equal to the most favorable of those generally provided by the Company and its
affiliated companies to disabled executives and/or their families in accordance with such plans, programs, practices and policies relating to disability, if any, as in effect generally with respect to
other peer executives and their families at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive and/or the Executive's
family, as in effect at any time thereafter generally with respect to other peer executives of the Company and its affiliated companies and their families. 

        (d)  Termination in Anticipation of a Change of Control.

          (i)  An
"Anticipatory Termination" occurs if either 

        (A)  (1)
the Company terminates the Executive's employment other than for Cause or Disability prior to the date on which a Change of Control occurs, (2) it is
reasonably demonstrated by the Executive that such termination of employment (x) was at the request of a third party who had taken steps reasonably calculated to effect a Change of Control or
(y) otherwise arose within six months of, and was in connection with or in anticipation of, a Change of Control, and (3) a Change of Control occurs, or 

        (B)  (1)
during the Term, an event occurs that would have constituted Good Reason if the Effective Date was deemed to be the date immediately prior to the date of such 

9

 

event and the Executive terminated his employment subsequent to such event, (2) the Executive can reasonably demonstrate that such Good Reason event (x) was at the request of a third
party who had taken steps reasonably calculated to effect a Change of Control or (y) otherwise arose within six months of, and was in connection with or in anticipation of, a Change of Control,
and (3) a Change of Control occurs. 

For
purposes of clauses (A)(2)(y) and (B)(2)(y) of this paragraph, it shall be presumed that such event was in connection with or in anticipation of a Change of Control unless the Company establishes
otherwise by clear and convincing evidence. 

        (ii)  Obligations of the Company upon an Anticipatory Termination. If the Executive has reason to believe that an Anticipatory
Termination may have occurred, he shall provide a notice setting forth such belief in accordance with Section 13(b) of this Agreement within one hundred and twenty (120) days after a
Change of Control has occurred. Upon an Anticipatory Termination, the Executive shall be entitled to (A) the payments specified in Sections 6(a)(i), (iii) and (iv) (to the extent
not previously paid), (B) the benefits specified in Sections 6(a)(ii) and (v))to the extent not previously provided) (or the after-tax equivalent thereof to the extent that
such benefits have not been or are not provided in kind), (C) to the extent that the Executive has outstanding any unexercised stock options and other stock-based awards, the provisions of
Section 6(a)(vi) shall apply to them, and (D) in respect of any stock options or other stock based awards that were forfeited by the Executive as a result of his termination of
employment but would have vested had Section 6(a)(vi) applied, such awards shall be reinstated (or if not reinstated, the Executive shall be paid in cash the fair value of such award as
determined by the accounting firm referred to in Section 6(a)(vi)). For the purposes of this Section 6(e)(ii), the Executive's Date of Termination shall be deemed to be his last date of
employment by the Company. 

        7.    Nonexclusivity of Rights.    Nothing in this Agreement shall prevent or limit the Executive's continuing or
future participation in any plan, program, policy or practice provided by the Company or any of its affiliated companies and for which the Executive may qualify, nor, subject to Section 13(f),
shall anything herein limit or otherwise affect such rights as the Executive may have under any contract or agreement with the Company or any of its affiliated companies. Amounts which are vested
benefits or which the Executive is otherwise entitled to receive under any plan, policy, practice, or program of or any contract or agreement with the Company or any of its affiliated companies at or
subsequent to the Date of Termination shall be payable in accordance with such plan, policy, practice or program or contract or agreement except as explicitly modified by this Agreement. 

        8.    Full Settlement.    The Company's obligation to make the payments provided for in this Agreement and otherwise
to perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against the
Executive or others. In no event shall the Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the
provisions of this Agreement and such amounts shall not be reduced whether or not the Executive obtains other employment, except as specifically provided with respect to medical and other welfare
benefits under another employer-provided plan pursuant to subsection 6(a)(ii). The Company agrees to pay as incurred, and to the full extent permitted by law, all legal fees and expenses which the
Executive may reasonably incur as a result of any contest (regardless of the outcome thereof) by the Company, the Executive or others of the validity or enforceability of, or liability under, any
provision of this Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in each
case interest on any delayed payment at the applicable Federal rate provided for in Section 7872(f)(2)(A) of the Internal Revenue Code of 1986, as amended (the "Code"). 

10

 

        9.    Certain Additional Payments by the Company.    

        (a)  Anything
in this Agreement or in any other agreement between the Company and the Executive or in any stock option or other benefit plan to the contrary notwithstanding
and except as set forth below, in the event it shall be determined that any payment or distribution by the Company to or for the benefit of the Executive (whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise, but determined without regard to any additional payments required under this Section 9) (a "Payment") would be subject to the
excise tax imposed by Section 4999 of the Code or any interest or penalties are incurred by the Executive with respect to such excise tax (such excise tax, together with any such interest and
penalties, are hereinafter collectively referred to as the "Excise Tax"), then the Executive shall be entitled to receive an additional payment (a "Gross-Up Payment") in an amount such
that after payment by the Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and
penalties imposed with respect thereto) and Excise Tax imposed upon the Gross-Up Payment, the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax
imposed upon the Payments. 

        (b)  Subject
to the provisions of Section 9(c), all determinations required to be made under this Section 9, including whether and when a Gross-Up
Payment is required and the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such determination, shall be made by such nationally recognized certified
public accounting firm as may be designated by the Executive (the "Accounting Firm"), which shall provide detailed supporting calculations both to the Company and the Executive within fifteen business
days of the receipt of notice from the Executive that there has been a Payment, or such earlier time as is requested by the Company. In the event that the Accounting Firm is serving as accountant or
auditor for the Company or the individual, entity or group effecting the Change of Control, the Executive shall appoint another nationally recognized accounting firm to make the determinations
required hereunder (which accounting firm shall then be referred to as the Accounting Firm hereunder). All fees and expenses of the Accounting Firm shall be borne solely by the Company. Any
Gross-Up Payment, as determined pursuant to this Section 9, shall be paid by the Company to the Executive within five business days of the receipt of the Accounting Firm's
determination. Any determination by the Accounting Firm shall be binding upon the Company and the Executive. As a result of the uncertainty in the application of Section 4999 of the Code at the
time of the initial determination by the Accounting Firm hereunder, it is possible that a Gross-Up Payment which will not have been made by the Company should have been made
("Underpayment"), consistent with the calculations required to be made hereunder. In the event that the Company exhausts its remedies pursuant to Section 9(c) and the Executive thereafter is
required to make a payment of any Excise Tax, the Accounting Firm shall determine the amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid by the Company to or
for the benefit of the Executive. 

        (c)  The
Executive shall notify the Company in writing of any claim by the Internal Revenue Service that, if successful, would require the payment by the Company of the
Gross-Up Payment. Such notifications shall be given as soon as practicable but no later than ten business days after the Executive is informed in writing of such claim and shall apprise
the Company of the nature of such claim and the date on which such claim is requested to be paid. The Executive shall not pay such claim prior to the expiration of the thirty-day period
following the date on which it gives such notice to the Company (or such shorter period ending on the date that any payment of taxes with respect to such
claim is due). If the Company notifies the Executive in writing prior to the expiration of such period that it desires to contest such claim, the Executive shall: 

          (i)  give
the Company any information reasonably requested by the Company relating to such claim, 

11

 

        (ii)  take
such action in connection with contesting such claim as the Company shall reasonably request in writing from time to time, including, without limitation, accepting
legal representation with respect to such claim by an attorney reasonably selected by the Company, 

        (iii)  cooperate
with the Company in good faith in order effectively to contest such claim; and 

        (iv)  permit
the Company to participate in any proceedings relating to such claim; 

provided,
however, that the Company shall bear and pay directly all costs and expenses (including additional interest and penalties) incurred in connection with such contest and shall indemnify and
hold the Executive harmless, on an after-tax basis, for any Excise Tax or income tax (including interest and penalties with respect thereto) imposed as a result of such representation and
payment of costs and expenses. Without limitation on the foregoing provisions of this Section 9(c), the Company shall control all proceedings taken in connection with such contest, and, at its
sole option, may pursue or forgo any and all administrative appeals, proceedings, hearings and conferences with the taxing authority in respect of such claim and may, at its sole option, either direct
the Executive to pay the tax claimed and sue for a refund or to contest the claim in any permissible manner, and the Executive agrees to prosecute such contest to a determination before any
administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the Company shall determine; provided, however, that if the Company directs the Executive to pay
such claim and sue for a refund, the Company shall advance the amount of such payment to the Executive, on an interest-free basis and shall indemnify and hold the Executive harmless, on an
after-tax basis, from any Excise Tax or income tax (including interest or penalties with respect thereto) imposed with respect to such advance or with respect to any imputed income with
respect to such advance; and further provided that any extension of the statute of limitations relating to payment of taxes for the taxable year of the Executive with respect to which such contested
amount is claimed to be due is limited solely to such contested amount. Furthermore, the Company's control of the contest shall be limited to issues with respect to which a Gross-Up
Payment would be payable hereunder and the Executive shall be entitled to settle or contest, as the case may be, any other issue raised by the Internal Revenue Service or any other taxing authority. 

        (d)  If,
after the receipt by the Executive of an amount advanced by the Company pursuant to Section 9(c), the Executive becomes entitled to receive any refund with
respect to such claim, the Executive shall (subject to the Company's complying with the requirements of Section 9(c)) promptly
pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the Executive of an amount advanced by the
Company pursuant to Section 9(c), a determination is made that the Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the Executive in
writing of its intent to consent such denial of refund prior to the expiration of thirty days after such determination, then such advance shall be forgiven and shall not be required to be repaid and
the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid. 

        10.    Confidential Information.    The Executive shall hold in a fiduciary capacity for the benefit of the Company
all material proprietary information, knowledge or data relating to the Company or any of its affiliated companies, and their respective businesses, which shall have been obtained by the Executive
during the Executive's employment by the Company or any of its affiliated companies and which shall not be or become public knowledge (other than by acts by the Executive or representatives of the
Executive in violation of this Agreement). After termination of the Executive's employment with the Company, the Executive shall not, without the prior written consent of the Company or as may 

12

 

otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than the Company and those designated by it. In no event shall an
asserted violation of the provisions of this Section 10 constitute a basis for denying, deferring or withholding any amounts or benefits payable to the Executive under this Agreement. 

        11.    Dispute Resolution.    

        (a)  All
claims and controversies that may arise under this Agreement shall be submitted to, and determined through, binding arbitration in the Denver, Colorado metropolitan
area in accordance with the employment arbitration procedures of the American Arbitration Association ("AAA") existing at the time the arbitration is conducted, before a single arbitrator chosen in
accordance with AAA procedures. The decision of the arbitrator shall be enforceable as a court judgment. 

        (b)  The
Company shall reimburse Executive for all legal fees and expenses and related costs and expenses incurred by Executive arising from any claim, controversy or dispute
(i) that is submitted to arbitration, whether initiated by the Executive or the Company, and including any dispute as to whether Executive is entitled to fees, expenses and costs under this
Section 11(b); (ii) in seeking to obtain or enforce any right or benefit provided for under this Agreement; or (iii) in connection with any tax audit or proceeding to the extent
attributable to the application of Section 4999 of the Code to any payment or benefit provided hereunder. Such payments shall be made within five (5) business days after delivery of
Executive's written request(s) for payment accompanied by invoices of fees, expenses and costs incurred. 

        (c)  If
within fifteen (15) days after any Notice of Termination is given or, if later, prior to the Date of Termination (as determined without regard to this
Section 11(c)), the person receiving such Notice of Termination notifies the person giving such notice that a claim, controversy, or dispute exists
concerning the termination or concerning employment or any of the provisions of this Agreement that apply to such termination or employment, the Date of Termination shall be extended to the date on
which the claim, controversy or dispute is fully and finally resolved, either by mutual written agreement of the parties or by final decision of the arbitrator referred to in Section 11(a). 

        (d)  If
a purported termination of Executive's employment occurs and such termination or the provisions of this Agreement that apply to such termination is disputed in
accordance with this Section 11 (including a dispute as to the existence of "good faith" and/or "reasonable attention and time" under any provisions of this Agreement), the Company shall
continue to pay Executive the full compensation (including, but not limited to, salary) at Executive's Annual Base Salary and continue Executive's participation in all compensation plans required to
be maintained hereunder and continue to provide Executive all other benefits provided for in Section 4(b) of this Agreement until the dispute is finally resolved in accordance with this
Section 11. Amounts paid under this section are in addition to all other amounts due under this Agreement and shall not be offset against or reduce any other amounts due Executive under this
Agreement. 

        (e)  In
any proceeding (regardless of who initiates such proceeding) under this Agreement the burden of proof as to whether Cause exists, whether Good Reason does not exist,
and/or whether "good faith" and/or "reasonable attention and time" exist shall be upon the Company. 

        12.    Successors.    

        (a)  This
Agreement is personal to the Executive and without the prior written consent of the Company shall not be assignable by the Executive otherwise than by will or the
laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive's legal representatives. 

13

 

        (b)  This
Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. 

        (c)  The
Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or
assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken
place. As used in this Agreement, "Company" shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this
Agreement by operation of law, or otherwise. 

        13.    Miscellaneous.    

        (a)  This
Agreement shall be governed by and construed in accordance with the laws of the State of Colorado, without reference to principles of conflict of laws. The captions
of this Agreement are not part of the provisions hereof and shall have no force or effect. This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties
hereto or their respective successors and legal representatives. 

        (b)  All
notices and any other communications hereunder shall be in writing and shall be given by hand delivery to the other party or by registered or certified mail, return
receipt requested, postage prepaid, addressed as follows: 

If
to the Executive:

At their current home address as listed in the Company's records

and as may be updated from time to time by the Executive. 

If
to the Company:

Coors Brewing Company

311 10th St.

Golden, CO 80401-0030 

        Attention:
Chief Legal Officer 

or
to such other address as either party shall have furnished to the other in writing in accordance herewith. Notice and communications shall be effective when actually received by the addressee. 

        (c)  The
invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. 

        (d)  The
Company may withhold from any amounts payable under this Agreement such Federal, state, local or foreign taxes as shall be required to be withheld pursuant to any
applicable law or regulation. 

        (e)  The
Executive's or the Company's failure to insist upon strict compliance with any provision of this Agreement or the failure to assert any right the Executive or the
Company may have hereunder, including, without limitation, the right of the Executive to terminate employment for Good Reason pursuant to Section 5(c)(i) through (v) of this
Agreement, shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. 

        (f)    The
Executive and the Company acknowledge that, except as may otherwise be provided under any other written agreement between the Executive and the Company, the
employment of the Executive by the Company is "at will", and the Executive's employment and/or this Agreement may be terminated by either the Executive or the Company at any time prior to the
Effective Date, in which case the Executive shall have no further rights under this Agreement except as provided in Section 6(e) (relating to termination in anticipation of a change in
control). From and 

14

 

after the Effective Date this Agreement shall supersede any other agreement between the parties with respect to the subject matter hereof. 

        IN
WITNESS WHEREOF, the Executive has hereunto set the Executive's hand and, pursuant to the authorization from its Board of Directors, the Company has caused these presents to be
executed in its name and on its behalf, all as of the day and year first above written. 

	 	Executive:
	

 	

 	
 	

 
	 	

	

 	

 	
 	

 
	 	Adolph Coors Company / Coors

Brewing Company:
	 	By:	 	 
	

 	

 	
 	

15

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EXHIBIT 10.17    
  

ADOLPH COORS COMPANY  

DEFERRED COMPENSATION PLAN  

        As
Amended and Restated Effective January 1, 2002 

 
ADOLPH COORS COMPANY

DEFERRED COMPENSATION PLAN  

RECITALS: 

        Adolph
Coors Company, a Colorado corporation (the "Company"), previously established the Adolph Coors Company Deferred Compensation Plan (the "Plan"), effective as of February 1,
1998. The Plan was amended and restated in its entirety, effective as of February 16, 2001, and is hereby further amended and restated in its entirety, effective as of January 1, 2002.
The Plan is intended to provide a mechanism whereby certain of the highly compensated and select management employees of the Company and those affiliates that adopt the Plan may defer compensation and
have such amounts, together with credited earnings, if applicable, paid out upon the participant's retirement, death, disability or other termination of service with the Company or affiliate and upon
certain other specified events. The Company intends that the Plan shall not be treated as a "funded" plan for purposes of either the Internal Revenue Code of 1986, as amended (the "Code") or the
Employee Retirement Income Security Act of 1974, as amended ("ERISA"). 

ARTICLE I

Definitions  

        Defined terms used in this Plan shall have the meanings set forth below: 

        1.1  "Affiliated Entity" means any corporation or other entity, including but not limited to partnerships and joint ventures,
affiliated with Adolph Coors Company, directly or indirectly through ownership, control or otherwise, as determined by the Committee. 

        1.2  "Base Salary" means the actual amount of base remuneration payable to an employee by the Company from time to time before
reduction for contributions to plans covered by sections 401(k) and 125 of the Code. 

        1.3  "Beneficiary" means the person or persons, trust or other entity designated by a Participant, pursuant to
Section 5.7, to receive any amounts distributable under the Plan at the time of the Participant's death. 

        1.4  "Change in Control" means such time as: 

	(a)
	a
Person other than Existing Shareholders or a Person controlled by Existing Shareholders becomes the ultimate Beneficial Owner of more than 20% of the total voting power of the
Voting Stock of the Company and such ownership represents a greater percentage of the total voting power of the Voting Stock of the Company than is Beneficially Owned by Existing Shareholders on such
date; except the following acquisitions are not a Change in Control: (i) an acquisition of Voting Stock by the Company or one of its wholly-owned subsidiaries or (ii) an acquisition of
Voting Stock that meets the conditions in clauses (i), (ii) and (iii) of Section 1.4(b) below or (iii) an acquisition by any employee benefit plan (or related trust)
sponsored or maintained by the Company, or by any corporation controlled by the Company;

	(b)
	the
Company consolidates with, or merges with or into, another Person or the Company or a subsidiary of the Company sells, assigns, conveys, transfers, leases or otherwise disposes of
all or substantially all of its assets to any Person in a transaction that would require approval of the Company's shareholders under Section 7-112-101 and
Section 7-112-102 of the Colorado Business Corporation Act (except a transfer to an entity wholly-owned by the Company or one of its wholly-owned subsidiaries), or any
Person consolidates with, or merges with or into, the Company, (each a "Business Combination") unless, immediately following such Business Combination, (i) all or substantially all of the
individuals and entities who were the Beneficial 

2

 

Owners,
respectively, of the Company Common Stock and Company Voting Stock immediately prior to such Business Combination Beneficially Own, directly or indirectly, 50% or more of, respectively, the
then-outstanding shares of common stock and the combined voting power of the then-outstanding Voting Stock of the corporation resulting from such Business Combination
(including, without limitation, a corporation that as a result of such transaction owns the Company and all or substantially all of the Company's assets either directly or though one or more
subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Company Common Stock and Company Voting Stock, (ii) no Person
(other than (A) Existing Shareholders and any Person controlled by Existing Shareholders, (B) any corporation resulting from such Business Combination or (C) any employee benefit
plan (or related trust) of the Company or such corporation resulting from such Business Combination) Beneficially Owns, directly or indirectly, 20% or more of the then-outstanding voting
power of the Voting Stock of such corporation and Beneficially Owns a greater percentage of the voting power of such Voting Stock of such Person than the Existing Shareholders and any Person
controlled by Existing Shareholders and (iii) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the board
of directors of the Company (the "Board") at the time of the action of the Board, if any, providing for such Business Combination or if there was not such action, on the effective date of this amended
and restated Plan; 

	(c)
	individuals
who on January 1, 2002 constitute the Board (together with any thereafter elected directors whose election by the Board or whose nomination by the Board for
election by the Company's shareholders was approved by a vote of at least a majority of the members of the Board then in office who either were members of the Board on January 1, 2002 or whose
election or
nomination for election was previously so approved) cease for any reason to constitute a majority of the members of the Board then in office; or

	(d)
	the
shareholders of the Company approve a complete liquidation or dissolution of the Company. 

In
addition, a "Change in Control" shall also mean, with respect to any individual Participant, a "Change in Control" as defined in any separate agreement between the Company or Affiliated Entity and
the Participant. 

	(e)
	For
purposes of this Section, the following definitions shall apply:

	(i)
	"Beneficial Owner and Beneficially Own" shall mean beneficial ownership as defined in
Rules 13d-3 and 13d-5 under the Exchange Act, except that a person shall be deemed to beneficially own all securities that such person has the right to acquire, whether
such right is exercisable immediately or only after the passage of time.

	(ii)
	"Company Common Stock" shall mean the Company's Class B Common Stock and any other common stock
(whether voting or non-voting) that may be hereafter issued.

	(iii)
	"Exchange Act" shall mean the Securities Exchange Act of 1934, as amended.

	(iv)
	"Existing Shareholder" shall mean the Adolph Coors, Jr. Trust, any individual who or entity which has
been, is or in the future becomes a trustee thereof or any beneficiary thereof, any other trust the primary beneficiaries of which are descendants of Adolph Coors, Sr. or spouses or former spouses of
such descendants, and/or any individual who or entity which has been, is or in the future becomes a trustee of any such trusts or any beneficiary thereof. 

3

 

	(v)
	"Person" shall mean any individual, entity or group (within the meaning of Section 13(d)(3) or
14(d)(2) of the Exchange Act).

	(vi)
	"Voting Stock" shall mean any and all shares, interests, participations, rights in or other equivalents
of capital stock and warrants or options exchangeable for or convertible into such capital stock which
ordinarily has the power to vote for the election of directors, managers or other voting members of the governing body (the "Governing Board") of a Person. If any members of the Governing Board are
elected by classes of common stock voting as separate classes, Voting Stock shall mean the stock of the class of common stock entitled to elect the majority of the Governing Board,  provided, if the
separate classes are entitled to elect equal numbers of the Governing Board, then all such shares of common stock shall be deemed to be
Voting Stock, but the voting power of Voting Stock held by a Person (including the Existing Shareholders) shall be separately calculated for each class and the result for each class shall be deemed to
be Beneficial Ownership of Voting Stock of the Company. 

        1.5  "Committee" means the administrative committee provided for in Section 6. 

        1.6  "Company" means Adolph Coors Company and, where the context requires, any Affiliated Entity that has elected to
participate in this Plan in accordance with the provisions of Article VIII. 

        1.7  "Company Stock" means the Class B Common Stock of Adolph Coors Company. 

        1.8  "Compensation" means an employee's Base Salary, Executive Bonus and the amount of income, in the form of shares of
Company Stock, attributable to the exercise of a Stock Option through payment of the exercise price with shares of Company Stock. In addition, "Compensation" shall mean any other compensatory payment
or payments made to the Participant that are specifically approved for inclusion within the meaning of "Compensation" by the senior officer in charge of Human Resources for the Company. 

        1.9  "Credited Earnings" means the amount of earnings credited to the Participant's Plan Account as of the date specified for
such purpose in the applicable provision of the Plan. Credited Earnings shall be determined based upon the deemed investment elections made by the Participant in accordance with the provisions of
Article IV. Except as otherwise provided in Section 4.1, Credited Earnings shall be accounted for and credited to a Participant's Plan Account beginning upon the date that the
Participant's deemed investment elections pursuant to Article IV are implemented within the Trust. 

        1.10 "Disability" shall have the same meaning given to such term from time to time in the Company's Long-Term
Disability Plan. 

        1.11 "Election Agreement" means an agreement between an eligible employee and the Company providing for the employee's
participation in the Plan and for the employee's elections with respect to deferrals under Article III, the deemed investment of the Participant's Plan Account under Article IV and
distributions under Article V, execution of which by an eligible employee is required under Article II for Plan participation. 

        1.12 "Executive Bonus" means a bonus paid pursuant to the Company=s
Management Incentive Compensation Plan or such other incentive or bonus programs as may be designated for this purpose by the Committee. 

        1.13 "Participant" means any eligible employee of the Company selected to participate in this Plan by the Committee who has
completed an Election Agreement and is entitled to the distribution of benefits hereunder. A Participant shall remain a Participant for all purposes of this Plan so long as the Participant is entitled
to the distribution of benefits hereunder, except to the extent provided in Section 2.3. 

4

 

        1.14 "Participant Deferrals" means the amounts of a Participant's Compensation which he elects to defer and have allocated to
his Plan Account pursuant to Article III. 

        1.15 "Plan Account" means a bookkeeping account maintained by the Company which shall show at all times the amounts of
Participant Deferrals made by a Participant and all Credited Earnings allocable to such amounts. 

        1.16 "Plan Year" means the twelve month period on which the Plan records are kept, which shall be the calendar year. 

        1.17 "Retirement" means an employee's termination of employment with the Company after the normal retirement age established
by the Company's Retirement Plan, which is presently age 65. 

        1.18 "Stock Option" means an option to acquire shares of the Company's Common Stock granted pursuant to the Company's 1990
Equity Incentive Plan. 

        1.19 "Trust" means the trust created by the Company or any Affiliated Entity which has adopted the Plan pursuant to
Article VIII which may be used to provide funding for the distribution of benefits hereunder in accordance with the provisions of the Plan. 

        1.20 "Trust Agreement" means the written instrument pursuant to which the Trust is created. 

        1.21 "Trustee" means the bank, trust company or individual appointed by the Company or any Affiliated Entity pursuant to
Article VII and acting from time to time as the trustee of the Trust formed to provide benefits under the Plan. 

ARTICLE II

Eligibility and Participation  

        2.1  Eligibility and Participation

        From
time to time the Committee, in its sole discretion, shall determine the eligibility requirements for participation and shall designate those highly compensated and select management
employees of the Company and those Affiliated Entities that have adopted this Plan pursuant to Article VIII to whom the opportunity to participate in this Plan shall be extended. The transfer
of employment by a Participant between the Company and an Affiliated Entity, or between Affiliated Entities, shall not be considered a termination of employment and shall not cause a disruption in
participation in this Plan. 

        2.2  Enrollment

        Employees
who have been selected by the Committee to participate in this Plan shall enroll in the Plan, prior to the calendar year during which the employee will participate in the Plan
(or in the case of an individual who becomes an eligible employee of the Company after the beginning of a calendar year, within 30 days after the date the individual becomes an eligible
employee), by (a) entering into an Election Agreement with the Company, which shall contain the Participant's election as to the Compensation to be deferred under the Plan for the subsequent
calendar year, the period of deferral, the method of payment, the initial investment elections of the Participant pursuant to Article IV, and such other terms as the Company deems appropriate
and necessary, and (b) completing such other forms and furnishing such other information as the Company may reasonably require. In the case of an employee who becomes eligible to and elects to
participate in the Plan during a calendar year, any election to defer Compensation shall apply only to Compensation earned after the effective date of such election. A Participant shall enter into a
new Election Agreement with respect to each Plan Year of participation under the Plan. 

5

 

        2.3  Failure of Eligibility

        If
a Participant ceases to meet the eligibility criteria as determined by the Committee for participation herein for any reason but continues to be a Company employee, participation
herein and benefits hereunder shall cease as of the effective date of the change in employment status, position or title which results in termination of eligibility for participation herein. The
determination of the Committee with respect to the termination of participation in the Plan shall be final and binding on all parties affected thereby. Any benefits accrued hereunder at the time of
such change, together with Credited Earnings, shall be distributed to such Participant on the third anniversary of the date on which such Participant's eligibility ceased, or, at the sole election of
the Committee, at any time prior to such third anniversary. 

ARTICLE III

Contribution Deferrals  

        Each Plan Year, a Participant may elect to have Participant Deferrals withheld from his Base Salary and credited to his Plan Account in any whole percentage of
his Base Salary from 1-100%. In addition, a Participant may elect to have the Company withhold from his Executive Bonus any amount up to 100% of such Executive Bonus and have such amount
credited to his Plan Account as a Participant Deferral. A Participant may also elect to have the Company withhold from any other type of Compensation otherwise payable to the Participant any amount up
to 100% of such Compensation and have such amount credited to his Plan Account as a Participant Deferral. Participant Deferrals shall be deducted from a Participant's Base Salary, Executive Bonus and
other Compensation through payroll withholding in accordance with the Participant's election and credited to the Participant's Plan Account at such time. If a Participant exercises a Stock Option
during a Plan Year through payment of the exercise price with shares of Company Stock, the Participant may elect to defer the receipt of the shares of Company Stock representing the shares in excess
of the shares used to exercise the Stock Option (the "Gain Shares"). The shares of Company Stock representing the Gain Shares that would otherwise be issued to the Participant upon the exercise of a
Stock Option through payment of the exercise price with shares of Company Stock shall be withheld by the Company, transferred to the Trust and treated as a deemed investment of the Participant in
accordance with the provisions of Article IV. All elections with respect to the deferral of Compensation, including Gain Shares, must be made in accordance with the provisions of
Section 2.2. 

ARTICLE IV

Accounting and Investments  

        4.1  Accounting

        The
Company shall maintain or cause to be maintained a book accounting record of the Participant's Plan Account, showing the amounts of Participant Deferrals and the Credited Earnings
thereon, based upon the deemed investment elections of each Participant pursuant to Section 4.2. The Company shall also maintain or cause to be maintained appropriate accounting records of the
Trust. 

        4.2  Deemed Investment Elections

        Each
Participant shall elect from time to time, in accordance with such procedures as may be established for this purpose by the Committee, the manner in which Credited Earnings shall be
determined with respect to the Participant's Plan Account, based upon the deemed investment elections made by the Participant. The deemed investment options available to Participants shall be
determined from time to time by the Committee and may be changed from time to time. In the case of Participant Deferrals attributable to Stock Options, such Participant Deferrals shall be deemed to be
invested only in Company Stock and the Participant may not change the deemed investment election with respect to 

6

 

such amounts. Subject to the foregoing restriction, the Participant shall be permitted to change his deemed investment elections in accordance with such procedures as may be established for this
purpose by the Committee. If at any time the Committee does not possess deemed investment directions for all of a Participant's Plan Account, the Participant shall be deemed to have directed that the
undesignated portion of the Plan Account be deemed to be invested in a money market, fixed income or similar fund made available under the Plan as determined by the Committee in its discretion. Each
Participant hereunder, as a condition to his or her participation hereunder, agrees to indemnify and hold harmless the Company, the Committee and their agents and representatives from any losses or
damages of any kind relating to the Participant's choice of deemed investments and the investment results of such deemed investments. 

ARTICLE V

Distributions  

        5.1  Time of Distribution.

	(a)
	Unless
a Participant otherwise elects in accordance with the provisions of subsection 5.1(b), or unless Section 5.3, 5.4 or 5.5 applies, the amount credited to a Participant's
Plan Account shall be distributed to the Participant (or his Beneficiary), or distributions shall begin, on the first day of the
month next following 60 days after the date on which the Participant's service with the Company terminates, whether such service terminates because of death, Disability, Retirement, voluntary
termination or termination by the Company. The transfer of a Participant between the Company and an Affiliated Entity, or between Affiliated Entities, shall not be considered a termination of
employment for purposes of this Plan.

	(b)
	At
the time a Participant elects to make Participant Deferrals in accordance with Section 3.1 with respect to a specified Plan Year, the Participant may also elect to receive
payment of the amounts deferred under Article III of the Plan with respect to such Plan Year, together with Credited Earnings thereon, immediately upon termination of employment in accordance
with subsection 5.1(b) or one, three, five, ten, fifteen or twenty years following termination of employment or, regardless of when service terminates, after a period of three, five, ten, fifteen or
twenty years. A Participant shall also be permitted to elect to receive payment of the Participant Deferrals with respect to a Plan Year at such other times as may be permitted by the Committee from
time to time. If a Participant makes an election to receive payment after a specified number of years, regardless of employment termination, then the amounts deferred under Article III with
respect to such Plan Year, together with Credited Earnings thereon, shall be distributed to the Participant (or his Beneficiary) on the first business day of the calendar year that is three, five,
ten, fifteen or twenty years after the calendar year of the deferrals as elected by the Participant, or at such other time as may be elected by the Participant with the permission of the Committee.
Amounts payable under this subsection after a specified period of years shall be paid in a lump sum, except as provided in Section 5.2. 

        5.2  Method and Amount of Distribution.

	(a)
	Unless
a Participant otherwise elects with respect to a Plan Year in accordance with the provisions of this Section 5.2, or unless Section 5.4 applies, payment of all
Participant Deferrals, together with Credited Earnings, shall be made at the time determined in accordance with the provisions of Section 5.1 in a lump sum in an amount equal to the amount
credited to his Plan Account as of the last day of the month prior to the date of payment. 

7

 

	(b)
	At
the time a Participant elects to make Participant Deferrals in accordance with Section 3.1 with respect to a specified Plan Year, the Participant may also elect to receive
payment of the amounts deferred under Article III of the Plan with respect to such Plan Year, together with Credited Earnings thereon, over a three, five, ten, fifteen or twenty year
installment payout instead of a lump sum. In order to be valid, an election under this subsection must be filed, in writing, with the Committee at least two years before the date of the Participant's
termination of service with the Company. Payments in accordance with this subsection shall be made in annual installments, with the first installment payable upon the first day of the month next
following 60 days after the termination of service of the Participant, or the date specified by the Participant in accordance with the provisions of subsection 5.1(b), as the case may be. Each
annual installment shall be determined by dividing the value of the Participant's Plan Account as of the last day of the month prior to the date of payment by the number of remaining annual
installments to be made in accordance with the Participant's election.

	(c)
	Notwithstanding
the foregoing provisions of this Section 5.2, in the event of the death or Disability of the Participant, whether prior to or following Retirement, the
Participant or his Beneficiary, as the case may be, may request a lump sum payout of the Participant's entire Plan Account. Any such request shall be considered by the Committee, which shall have the
sole discretion to either approve such a payment or to deny such a payment. If a lump sum payment is authorized by the Committee under these circumstances, payment of the Participant's Plan Account,
based upon the amount credited to such Plan Account as of the last day of the month prior to the date of payment, shall be made within 60 days after the date on which the Committee approves
such payment.

	(d)
	During
the period following a Participant's termination of employment with the Company and before payment of his Plan Account begins, and during the period that a Participant's Plan
Account is being distributed in accordance with an installment payout election, the Plan Account shall continue to be credited with Credited Earnings in accordance with the provisions of
Article IV and the Participant shall be entitled to make deemed investment elections with respect to the investment of his or her Plan Account.

	(e)
	Notwithstanding
the foregoing provisions of this Section 5, to the extent that a Participant's Plan Account is deemed to be invested in Company Stock at the time that
distribution commences hereunder, such distribution shall be made, to the extent thereof, in whole shares of Company Stock, rather than in cash, with the value of any fractional share distributed in
cash. In all other instances, a Participant's Plan Account shall be distributed in cash. 

        5.3  Early Distribution With Penalty.

        Instead
of receiving the distribution of a Participant's Plan Account at the time and in the manner otherwise specified in this Article V, a Participant may elect to receive his
entire Plan Account in a lump sum at any time. If a Participant so elects, the amount of his Plan Account shall be reduced by 10% as a penalty for early distribution and the amount in such Plan
Account as of the last day of the month prior to receipt by the Company of the Participant's election under this subsection, reduced by the 10% penalty amount, shall be paid to the Participant in a
lump sum within 30 days after receipt by the Company of the Participant's election. To the extent that a Participant's Plan Account is invested in Company Stock, the lump sum distribution shall
be made in whole shares of Company Stock, with the value of any fractional share distributed in cash. A Participant who makes such an election shall no longer be eligible to participate in the Plan.
All elections under this section shall be made in writing, shall be effective when delivered to the Company and shall be irrevocable once made. 

8

 

        5.4  Distribution Upon Change in Control.

        At
the time a Participant elects to make Participant Deferrals in accordance with Section 3.1 with respect to a specified Plan Year, the Participant may also elect to receive
payment of the amounts deferred under Article III of the Plan with respect to such Plan Year, or any or all earlier Plan Years, together with Credited Earnings thereon, in a lump sum or over a
three, five, ten, fifteen or twenty year installment payout in the event of a Change in Control of the Company. A Participant may also elect to commence receiving payment in such circumstances, either
immediately following the date of the Change in Control, after a period of one, three, five, ten, fifteen or twenty years following the date of the Participant's termination of employment, or,
regardless of when service terminates, after a period of three, five, ten, fifteen or twenty years, as elected by the Participant. A Participant may also make such an election with respect to the
payment of his or her Plan Account in the event of a Change in Control at any other time, provided, however, that any such election, whether in connection with the Participant's Participant Deferrals
Election or otherwise, must be received by the Company at least six months before the date of the closing of the transaction that constitutes a Change in Control. If a Participant does not otherwise
elect, or if any such election is ineffective because made within six months of a Change in Control, then such Participant shall receive an immediate lump sum payment of the amount allocated to his
Plan Account as of the date of such Change in Control. Any Beneficiary receiving payments from the Plan at the time of a Change in Control of the Company shall receive an immediate lump sum payment of
the amount allocated to his or her Plan Account as of the date of such Change in Control. All lump sum payments shall be made as soon as administratively possible following the date of the Change in
Control. 

        5.5  Hardship Distributions.

        In
the event of hardship endured by a Participant and recognized as such by the Committee, and upon receipt by the Committee of a written application for the early distribution of
amounts deferred, the Committee shall direct the distribution to the Participant of all amounts allocated to the Plan Account to the extent reasonably required to satisfy the hardship need. For
purposes of this Plan, "hardship" shall mean a Participant's severe, unforeseeable financial hardship resulting from a sudden unexpected illness or accident of the Participant (or any of his family),
loss of the Participant's property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. In no event may
a distribution be made to the extent that such hardship is or may be relieved (i) through reimbursement or compensation by insurance or otherwise, or (ii) by liquidation of the
Participant's assets, to the extent the liquidation of such assets would not itself cause severe financial hardship. If the Committee grants a hardship distribution pursuant to this
Section 5.5, the Committee may also permit the Participant to reduce or eliminate his deferrals under the Plan for the remainder of the Plan Year. The Committee's decision with respect to the
existence or nonexistence of hardship with respect to a particular Participant shall be final and binding on all parties. 

        5.6  Source of Payments.

        All
amounts payable to any person under this Plan shall be paid from the general assets of the Company as such amounts become due and payable or, in the sole discretion of the Company,
such amounts may be paid from the Trust in accordance with the provisions of the Trust and upon the written direction of the Company. If a Participant is employed by more than one entity during his
period of participation in the Plan, the various employers shall agree among themselves with respect to the allocation of the obligation to make payments to the Participant in accordance with the
provisions of this Plan. 

9

 

	5.7
	Beneficiaries.

        Each
Participant shall designate one or more persons, trusts or other entities as his Beneficiary to receive any amounts distributable hereunder at the time of the Participant's death.
Such designation shall be made by the Participant on a Beneficiary Designation Form supplied by the Committee at his initial enrollment and may be changed from time to time by the Participant. Any
such beneficiary designation shall apply to all amounts payable to a Participant hereunder. All payments to a Participant's Beneficiary under the Plan shall be made at the times and in the manner
previously elected by the Participant with respect to distributions under the Plan, except as otherwise provided in Section 5.4. In the absence of an effective beneficiary designation as to
part or all of a Participant's interest in the Plan, such amount shall be distributed to the personal representative of the Participant's estate. 

	5.8
	Withholding.

        All
amounts payable under the provisions of this Plan to any person shall be subject to withholding of applicable tax and other items in accordance with federal, state and local law. 

ARTICLE VI

Administration  

	6.1
	The CommitteeCPlan Administrator.

	(a)
	The
Company's Retirement Committee, or a subcommittee thereof appointed by the Retirement Committee, shall serve as the Administrative Committee for this Plan. The Committee shall
administer the Plan in accordance with its terms and purposes.

	(b)
	The
Committee may designate an individual to serve as Plan Administrator and may at any time revoke a prior designation and select a different individual to serve as Plan
Administrator. 

	6.2
	Committee to Administer and Interpret Plan.

        The
Committee shall administer the Plan and shall have all powers necessary for that purpose, including, but not by way of limitation, power to interpret the Plan, to determine the
eligibility, status and rights of all persons under the Plan and, in general, to decide any dispute. The Committee shall maintain all Plan records except records of the Trust fund. 

	6.3
	Organization of Committee.

        The
Committee shall adopt such rules as it deems desirable for the conduct of its affairs and for the administration of the Plan. It may appoint agents (who need not be members of the
Committee) to whom it may delegate such powers as it deems appropriate, except that any dispute shall be determined by the Committee. The Committee may make its determinations with or without
meetings. It may authorize one or more of its members or agents to sign instructions, notices and determinations on its behalf. The action of a majority of the Committee shall constitute the action of
the Committee. 

	6.4
	Indemnification.

        The
Committee, the Plan Administrator and all of the other agents and representatives of the Committee shall be indemnified and saved harmless by the Company against any claims, and the
expenses of defending against such claims, resulting from any action or conduct relating to the administration of the Plan, except claims judicially determined to be attributable to gross negligence
or willful misconduct. 

10

 

	6.5
	Agent for Process.

        The
Committee shall be agent of the Plan for service of all process. 

	6.6
	Determination of Committee Final.

        The
decisions made by the Committee shall be final and conclusive on all persons. 

	6.7
	The Trustee.

        The
Trustee shall be responsible for: (a) the investment of the Trust fund to the extent and in the manner provided herein and in the Trust Agreement; (b) the custody and
preservation of Trust assets delivered to it; and (c) for making such distributions from the Trust fund as the Company shall direct. The Trustee shall have only the responsibilities specified
in this section and in the Trust Agreement. 

ARTICLE VII

Trust  

	7.1
	Trust Agreement.

        The
Company and each Affiliated Entity which has adopted the Plan have each entered into a Trust Agreement with the Trustee, which shall initially be Fidelity Management Trust Company,
to provide for the holding, investment and administration of the funds of the Plan for the Participants who are employed by each such entity. The Trust Agreement shall be part of the Plan, and the
rights and duties of any person under the Plan shall be subject to all of the terms and provisions of the Trust Agreement. 

	7.2
	Expenses of Trust.

        The
parties expect that the Trust will be treated as though it were not a separate taxpaying entity for federal and state income tax purposes and that, as a consequence, the Trust will
not be subject to income tax with respect to its income. However, if the Trust should be taxable, the Company shall
contribute the amount necessary to pay such taxes to the Trust and the Trustee shall pay all such taxes out of the Trust. All expenses of administering the Trust shall be paid by the Company. 

ARTICLE VIII

Affiliated Entities  

	8.1
	Adoption of Plan.

        Any
Affiliated Entity, whether or not presently existing, may with the consent of the Committee become a party to the Plan by adopting the Plan for one or more of its highly- compensated
and select management employees. In accordance with the provisions of Section 2.1, the Committee shall have the sole discretion to determine which employees of such an Affiliated Entity, if
any, may participate in the Plan. Thereafter, such Affiliated Entity shall promptly deliver to the Company a copy of the document evidencing its adoption of the Plan. The Company and each such
Affiliated Entity shall enter into such written agreements as they may consider necessary and appropriate in order to allocate the responsibility for payments due under the provisions of the Plan with
respect to employees who transfer employment between participating employers. 

	8.2
	Agency of the Company.

        Each
Affiliated Entity by becoming a party to the Plan constitutes the Company its agent with authority to act for it in all transactions in which the Company believes such agency will
facilitate the administration of the Plan and with authority to amend and terminate the Plan. 

11

 

	8.3
	Disaffiliation and Withdrawal From Plan.

        Any
Affiliated Entity which has adopted the Plan and which thereafter ceases for any reason to be an Affiliated Entity shall forthwith cease to be a party to the Plan. Any Affiliated
Entity may, by resolution of its governing body and written notice thereof to the Company provide from and after the end of any plan year for the discontinuance of Plan participation by such employer
and its employees. 

	8.4
	Effect of Disaffiliation or Withdrawal.

        At
the time of disaffiliation or withdrawal, the disaffiliating or withdrawing employer shall by resolution of its governing body determine whether to continue the Plan for its covered
employees or to terminate the Plan as to such employees. 

ARTICLE IX

Amendment and Termination  

	9.1
	Termination of Deferrals.

        The
Company, through action of its Board of Directors, may terminate future Participant Deferrals under the Plan at any time, for any reason. If deferrals are discontinued, the Plan and
Trust shall continue to operate in accordance with their respective terms and distributions shall be made to Participants (and Beneficiaries) in accordance with the provisions of the Plan. 

	9.2
	Termination of Plan.

        The
Company and each Affiliated Entity which has adopted the Plan expect to continue this Plan indefinitely, but the Company and each such Affiliated Entity may terminate this Plan as to
its employees at any time. Notwithstanding the foregoing, the Company and each such Affiliated Entity shall not terminate this Plan as to its employees solely for the purpose of accelerating the
distribution of benefits to its employees. 

	9.3
	Benefits Distributable Upon Termination.

        Notwithstanding
9.1 above, the Company or the Affiliated Entity, as the case may be, shall distribute, or cause the Trustee to distribute, all benefits that have accrued under the Plan
for Participants employed by the entity that terminates its participation in the Plan, together with all benefits that have accrued under the Plan for former Participants or Beneficiaries, as of the
date of termination of the Plan, with such benefits computed and distributed as though all Participants terminated employment with the Company or the Affiliated Entity on the date of Plan termination. 

	9.4
	Amendment by Company.

        The
Company may amend this Plan at any time and from time to time, but no amendment shall reduce any benefit that has accrued on the effective date of the amendment. 

ARTICLE X

Miscellaneous  

	10.1
	Funding of Benefits—No Fiduciary Relationship.

        All
benefits payable under this Plan shall be distributed as they become due and payable either by the Company out of its general assets or from the Trust, as determined by the Company
in its sole discretion. The Company and each Affiliated Entity that adopts the Plan pursuant to Article VIII shall be responsible for providing the benefits only for its own employees who are
Participants in the Plan. Nothing contained in this Plan shall be deemed to create any fiduciary relationship between the Company and the Participants. To the extent that any person acquires a right
to receive benefits under 

12

 

this Plan, such right shall be no greater than the right of any unsecured general creditor of the Company. 

	10.2
	Reimbursement for Certain Expenses.

        The
Plan and Trust have been established with the intent and understanding that, for federal income tax purposes, Participants in the Plan will not be subject to tax with respect to
their participation in the Plan until such time as distributions are actually made to the Participants in accordance with the provisions of the Plan. If a Participant is treated by the Internal
Revenue Service as having received income with respect to the Plan in a year prior to the actual receipt of distributions under the Plan, the Company shall reimburse the Participant for all reasonable
legal and accounting costs incurred by the Participant in contesting such proposed treatment. 

	10.3
	Right to Terminate Employment.

        The
Company and each Affiliated Entity may terminate the employment of any Participant as freely and with the same effect as if this Plan were not in existence. 

	10.4
	Inalienability of Benefits.

        No
Participant shall have the right to assign, transfer, hypothecate, encumber or anticipate his interest in any benefits under this Plan, nor shall the benefits under this Plan be
subject to any legal process to levy upon or attach the benefits for payment for any claim against the Participant or his spouse. If any Participant's benefits are garnished or attached by the order
of any court, the Company may bring an action for declaratory judgment in a court of competent jurisdiction to determine the proper recipient of the benefits to be distributed pursuant to the Plan.
During the pendency of the action, any benefits that become distributable shall be paid into the court as they become distributable, to be distributed by the court to the recipient it deems proper at
the conclusion of the action. Notwithstanding the foregoing provisions of this Section 10.4, a Participant shall have the right to assign any amounts that may become payable hereunder for any
reason other than the death of the Participant to a revocable trust of which the Participant is the grantor or a family partnership controlled by the Participant, provided that any such assignment
shall not enable the Participant to anticipate or otherwise receive current economic benefit from such assignment. 

	10.5
	Claims Procedure.

	(a)
	All
claims shall be filed in writing by the Participant, his spouse or the authorized representative of the claimant, by completing such procedures as the Committee shall require.
Such procedures shall be reasonable and may include the completion of forms and the submission of documents and additional information.

	(b)
	If
a claim is denied, notice of denial shall be furnished by the Committee to the claimant within 90 days after the receipt of the claim by the Committee, unless special
circumstances require an extension of time for processing the claim, in which event notification of the extension shall be provided to the Participant or beneficiary and the extension shall not exceed
90 days.

	(c)
	The
Committee shall provide adequate notice, in writing, to any claimant whose claim has been denied, setting forth the specific reasons for such denial, specific reference to
pertinent Plan provisions, a description of any additional material or information necessary for the claimant to perfect his claims and an explanation of why such material or information is necessary,
all written in a manner calculated to be understood by the claimant. Such notice shall include appropriate information as to the steps to be taken if the claimant wishes to submit his claim for
review. The claimant or the claimant's authorized representative may request such review within the reasonable period of time prescribed by
the Committee. In no event shall such a period of time be less than 60 days. A decision on review shall be made not 

13

 

later
than 60 days after the Committee's receipt of the request for review. If special circumstances require a further extension of time for processing, a decision shall be rendered not later
than 120 days following the Committee's receipt of the request for review. If such an extension of time for review is required, written notice of the extension shall be furnished to the
claimant prior to the commencement of the extension. The decision on review shall be furnished to the claimant. Such decision shall be in writing and shall include specific reasons for the decision,
written in a manner calculated to be understood by the claimant, as well as specific references to the pertinent Plan provisions on which the decision is based. 

	10.6
	Disposition of Unclaimed Distributions.

        Each
Participant must file with the Company from time to time in writing his address and each change of address. Any communication, statement or notice addressed to a Participant at his
last address filed with the Company, or if no address is filed with the Company, then at his last address as shown on the Company's records, will be binding on the Participant and his spouse for all
purposes of the Plan. The Company shall not be required to search for or locate a Participant or his spouse. If the Committee notifies a Participant (or Beneficiary) that he is entitled to a
distribution and also notifies him of the provisions of this section, and the individual fails to claim his benefits under this Plan or make his address known to the Committee within five calendar
years after the notification, the benefits under the Plan of such individual shall be forfeited as of the end of the Plan Year coincident with or following the five year waiting period. If the
individual should later make a claim for his forfeited benefit, the Company shall cause the amount of the forfeited benefit to be distributed to the individual, either through a direct payment by the
Company or through a payment from the Trust. 

	10.7
	Distributions Due Minors or Incompetents.

        If
any person entitled to a distribution under the Plan is a minor, or if the Committee determines that any such person is incompetent by reason of physical or mental disability, whether
or not legally adjudicated an incompetent, the Committee shall have the power to cause the distributions becoming due to such person to be made to another for his or her benefit, without
responsibility of the Committee or the Trustee to see to the application of such distributions. Distributions made pursuant to such power shall operate as a complete discharge of the Company, the
Trust fund, the Trustee and the Committee. 

	10.8
	Governing Law.

        This
Plan shall be governed by the laws of the State of Colorado. 

	Dated:	 	 	 	 
	 	 	
	 	 	 	 
	

 	
 	

 	
 	

 	
 	

 
	ATTEST:	 	ADOLPH COORS COMPANY
	

 	
 	

 	
 	

 	
 	

 
	By:	 	 	 	By:	 	 
	 	 	
	 	 	 	

14

   TABLE OF CONTENTS  

	 
	 	 
	 	 
	 	Page

	RECITALS	 	2
	

ARTICLE	
 	

—	
 	

Definitions	
 	

2
	 	1.1	 	 	 	"Affiliated Entity"	 	2
	 	1.2	 	 	 	"Base Salary"	 	2
	 	1.3	 	 	 	"Beneficiary"	 	2
	 	1.4	 	 	 	"Change in Control"	 	2
	 	1.5	 	 	 	"Committee"	 	4
	 	1.6	 	 	 	"Company"	 	4
	 	1.7	 	 	 	"Company Stock"	 	4
	 	1.8	 	 	 	"Compensation"	 	4
	 	1.9	 	 	 	"Credited Earnings"	 	4
	 	1.10	 	 	 	"Disability"	 	4
	 	1.11	 	 	 	"Election Agreement"	 	4
	 	1.12	 	 	 	"Executive Bonus"	 	4
	 	1.13	 	 	 	"Participant"	 	4
	 	1.14	 	 	 	"Participant Deferrals"	 	5
	 	1.15	 	 	 	"Plan Account"	 	5
	 	1.16	 	 	 	"Plan Year"	 	5
	 	1.17	 	 	 	"Retirement"	 	5
	 	1.18	 	 	 	"Stock Option"	 	5
	 	1.19	 	 	 	"Trust"	 	5
	 	1.20	 	 	 	"Trust Agreement"	 	5
	 	1.21	 	 	 	"Trustee"	 	5
	

ARTICLE II	
 	

—	
 	

Eligibility and Participation	
 	

5
	 	2.1	 	 	 	Eligibility and Participation	 	5
	 	2.2	 	 	 	Enrollment	 	5
	 	2.3	 	 	 	Failure of Eligibility	 	6
	

ARTICLE III	
 	

—	
 	

Contribution Deferrals	
 	

6
	

ARTICLE IV	
 	

—	
 	

Accounting and Investments	
 	

6
	 	4.1	 	 	 	Accounting	 	6
	 	4.2	 	 	 	Deemed Investment Elections	 	6
	

ARTICLE V	
 	

—	
 	

Distributions	
 	

7
	 	5.1	 	 	 	Time of Distribution	 	7
	 	5.2	 	 	 	Method and Amount of Distribution	 	7
	 	5.3	 	 	 	Early Distribution With Penalty	 	8
	 	5.4	 	 	 	Distribution Upon Change in Control	 	9
	 	5.5	 	 	 	Hardship Distributions	 	9
	 	5.6	 	 	 	Source of Payments	 	9
	 	5.7	 	 	 	Beneficiaries	 	10
	 	5.8	 	 	 	Withholding	 	10
	

ARTICLE VI	
 	

—	
 	

Administration	
 	

10
	 	6.1	 	 	 	The CommitteeCPlan Administrator	 	10
	 	6.2	 	 	 	Committee to Administer and Interpret Plan	 	10
	 	6.3	 	 	 	Organization of Committee	 	10
	 	6.4	 	 	 	Indemnification	 	10

i

 

	 	6.5	 	 	 	Agent for Process	 	11
	 	6.6	 	 	 	Determination of Committee Final	 	11
	 	6.7	 	 	 	The Trustee	 	11
	

ARTICLE VII	
 	

—	
 	

Trust	
 	

11
	 	7.1	 	 	 	Trust Agreement	 	11
	 	7.2	 	 	 	Expenses of Trust	 	11
	

ARTICLE VIII	
 	

—	
 	

Affiliated Entities	
 	

11
	 	8.1	 	 	 	Adoption of Plan	 	11
	 	8.2	 	 	 	Agency of the Company	 	11
	 	8.3	 	 	 	Disaffiliation and Withdrawal From Plan	 	12
	 	8.4	 	 	 	Effect of Disaffiliation or Withdrawal	 	12
	

ARTICLE IX	
 	

—	
 	

Amendment and Termination	
 	

12
	 	9.1	 	 	 	Termination of Deferrals	 	12
	 	9.2	 	 	 	Termination of Plan	 	12
	 	9.3	 	 	 	Benefits Distributable Upon Termination	 	12
	 	9.4	 	 	 	Amendment by Company	 	12
	

ARTICLE X	
 	

—	
 	

Miscellaneous	
 	

12
	 	10.1	 	 	 	Funding of Benefits—No Fiduciary Relationship	 	12
	 	10.2	 	 	 	Reimbursement for Certain Expenses	 	13
	 	10.3	 	 	 	Right to Terminate Employment	 	13
	 	10.4	 	 	 	Inalienability of Benefits	 	13
	 	10.5	 	 	 	Claims Procedure	 	13
	 	10.6	 	 	 	Disposition of Unclaimed Distributions	 	14
	 	10.7	 	 	 	Distributions Due Minors or Incompetents	 	14
	 	10.8	 	 	 	Governing Law	 	14

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EXHIBIT 10.17

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