Document:

Exhibit

        
Exhibit 10.26

THE COCA-COLA EXPORT CORPORATION

MOBILE EMPLOYEES RETIREMENT PLAN

Effective January 1, 2012

THE COCA-COLA EXPORT CORPORATION
MOBILE EMPLOYEES RETIREMENT PLAN

TABLE OF CONTENTS

                                        

	
			
	 
	 
	PAGE

	ARTICLE I
	DEFINITIONS
	1

	 
	 
	 

	ARTICLE II  
	ELIGIBILITY AND APPROVAL FOR PARTICIPATION
	5

	 
	 
	 

	ARTICLE III
	PLAN ACCOUNTS AND CONTRIBUTIONS
	6

	 
	 
	 

	ARTICLE IV
	VESTING
	6

	 
	 
	 

	ARTICLE V
	PAYMENT OF ACCOUNTS
	7

	 
	 
	 

	ARTICLE VI
	CHANGE OR DISCONTINUANCE OF PLAN
	9

	 
	 
	 

	ARTICLE VII
	ADMINISTRATION OF PLAN
	9

	 
	 
	 

	ARTICLE VIII
	MISCELLANEOUS PROVISIONS
	11

ARTICLE I
DEFINITIONS

The following words and phrases as used herein shall have the meaning specified below, unless a different meaning is plainly required by the context.  The masculine pronoun, wherever used, shall include the feminine. Whenever any words are used herein in the singular, they shall be construed as though they were also used in the plural, in all cases where they would so apply.

Account shall mean an account maintained under the Plan for a Member in accordance with Article III.

Administrator shall mean the administrator as shall be appointed in accordance with Article VII.

Affiliate shall mean any corporation not less than 20% of whose voting stock or ownership interest (not including shares having voting power only upon the happening of an event of default) is at the time owned, directly or indirectly, by the Company.   

Annual Interest Rate shall mean the year-over-year change in CPI-U for the United States (published by the U.S Department of Labor Bureau of Labor Statistics) measured as of September of the Plan Year immediately prior to the applicable Plan Year, plus 250 basis points, rounded to two decimal points.  In no event shall the Annual Interest Rate be less than 0% or more than 5%.

Beneficiary shall mean the person or persons designated in writing by the Member to receive any benefits from the Plan due to the death of the Member.    If no Beneficiary is designated, the Beneficiary shall be the Member’s spouse. If no Beneficiary is designated and the Member has no current spouse, the Beneficiary shall be the Member’s estate.

Change of Control shall mean a change in control of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A under the Exchange Act as in effect on January 1, 2002, provided that such a change in control shall be deemed to have occurred at such time as (i) any “person” (as that term is used in Sections 13(d) and 14(d)(2) of the Exchange Act), is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act as in effect on January 1, 2002) directly or indirectly, of securities representing 20% or more of the combined voting power for election of directors of the then outstanding securities of the Company or any successor of the Company; (ii) during any period of two consecutive years or less, individuals who at the beginning of such period constituted the Board of Directors of the Company cease, for any reason, to constitute at least a majority of the Board of Directors, unless the election or nomination for election of each new director was approved by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of the period; (iii) the share owners of the Company approve any merger or consolidation as a result of which the Stock shall be changed, converted or exchanged (other than a merger with a wholly owned subsidiary of the Company) or any liquidation of the Company or any sale or other disposition of 50% or more of the assets or earning power of the Company, and 

such merger, consolidation, liquidation or sale is completed; or (iv) the share owners of the Company approve any merger or consolidation to which the Company is a party as a result of which the persons who were share owners of the Company immediately prior to the effective date of the merger or consolidation shall have beneficial ownership of less than 50% of the combined voting power for election of directors of the surviving corporation following the effective date of such merger or consolidation, and such merger, consolidation, liquidation or sale is completed; provided, however, that no Change in Control shall be deemed to have occurred if, prior to such times as a Change in Control would otherwise be deemed to have occurred, the Board of Directors determines otherwise.  Additionally, no Change in Control will be deemed to have occurred under clause (i) if, subsequent to such time as a Change of Control would otherwise be deemed to have occurred, a majority of the Directors in office prior to the acquisition of the securities by such person determines otherwise.

Code shall mean the Internal Revenue Code of 1986, as amended.

Committee shall mean the Global Benefits Committee, as herein provided in Article VII.

Company shall mean The Coca-Cola Company, a Delaware corporation.
Company Core Contribution shall mean the monthly amount contributed by the Plan Sponsor for a Member.  Such amount may differ from Member to Member, but any amount in excess of 10% must be approved by the Committee or the Global Head of Total Rewards, or the person with similar title and responsibilities, within 60 days of the Members’ first day of eligibility for the Plan.  The amount contributed to a Member’s account may change from time to time at the discretion of the Committee or its designee.
Company Discretionary Contribution shall mean such discretionary amount, if any, contributed by the Plan Sponsor for a Member.  Such amount may differ from Member to Member.  This contribution will vest pursuant to Section 4.1(a).  Notwithstanding anything else herein, Company Discretionary Contributions must require the Member to continue to provide services for at least 12 months for such Company Discretionary Contribution to vest.
Company Discretionary Contribution Subaccount shall mean the bookkeeping account maintained by the Plan Sponsor for each Member that is credited with an amount equal to (i) the Company Discretionary Contribution, the Company Discretionary Early Retirement Contribution, the Company Discretionary Early Retirement Sweepback Contribution and/or the Company Discretionary Sweepback Contribution amounts, if any and as applicable, plus (ii) any Interest Credits.  
Company Discretionary Early Retirement Contribution shall mean such discretionary amount, if any, contributed by the Plan Sponsor for a Member who, as of December 31, 2011, was an active Member in the ORP and who was not a Grandfathered Member as that term is defined in the ORP.  Such amount may differ from Member to Member, but shall be determined no later than January 1, 2012.  This contribution will vest pursuant to Section 4.1(b).  
Company Discretionary Early Retirement Sweepback Contribution shall mean such discretionary amount, if any, contributed by the Plan Sponsor for a Member who, as of 

December 31, 2011, was an active Member in the ORP and who was not a Grandfathered Member as that term is defined in the ORP and who had not yet competed four years of International Service.  Such amount may differ from Member to Member, but shall be determined no later than January 1, 2012. This contribution will vest pursuant to Section 4.1(c).
Company Discretionary Sweepback Contribution shall mean such discretionary amount, if any, contributed by the Plan Sponsor for a Member who, as of December 31, 2011, was an active Member in the ORP, who was not a Grandfathered Member as that term is defined in the ORP and who had not yet competed four years of International Service.  Such amount may differ from Member to Member, but shall be determined no later than January 1, 2012.  This contribution will vest pursuant to Section 4.1(d).

Compensation shall mean for any Plan Year, the amount derived by including the amounts in Subsections (a) and (b):

(a) all such Member’s base pay, as such term is used for the purpose of determining the amount of the Member’s bonus under any annual incentive award program sponsored by the Company; 

(b) all annual or discretionary short term incentives paid to the Member under a formally adopted Employer plan or policy, but not including any premiums paid under any Global Mobility program maintained by the Company; 

Examples of compensation or pay that is not included in the definition of Compensation includes, but is not limited to, all of the following items:  (1)  deferred compensation (other than any deferred compensation payable under a formal incentive arrangement and compensation deferred under The Coca-Cola Company Deferred Compensation Plan); (2) all severance payments; (3) tuition, relocation, and other expense reimbursements; (4) income from excess group life insurance; (5) income from stock option transactions and restricted stock transactions; (6) income from performance cash awards; (7) welfare benefits; (8) cash and noncash fringe benefits; (9) extraordinary remuneration associated with an international assignment (including but not limited to, tax equalization payments, mobility allowances, and housing allowances); (10) extraordinary remuneration related to separation of employment or transition of employment; (11) hiring bonuses and any other extraordinary remuneration in conjunction with or related to hiring or transfer; (12) make-whole payments; (13) ex gratia payments and (14) unused accrued annual leave payments.

Compensation will include only those amounts that are actually paid by an Employer.  The Committee may determine a Member’s Compensation in a currency other than U.S. dollars.   Compensation shall not include any cash compensation paid to the Member after the Member’s Separation from Service unless the Member is eligible again for the Plan.

CPI-U shall mean the Consumer Product Index for All Urban Consumers - All Items as determined by the United States Department of Labor Bureau of Labor Statistics.

Crediting Date shall mean the last business day of each month during the Plan Year, or such other date selected by the Committee for allocating interest to Members’ Accounts.

Disability or Disabled shall mean a physical or mental incapacity that qualifies the Member for benefits under The Coca-Cola Company Long-Term Disability Income Plan or a long-term disability plan of another Employer covering the Member, provided that the Member is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve months.

Employee shall mean any individual who is employed by the Company or a Subsidiary.  An individual shall be treated as an employee under this Plan for any period only if (i) he is actually classified during such period by the Employer on its payroll, personnel and benefits system as an employee, and (ii) he is paid for services rendered during such period through the payroll system, as distinguished from the accounts payable department of the Employer.  No other individual shall be treated as an Employee under this Plan for any period, regardless of his or her status during such period as an employee under common law or under any statute. 

Employer shall mean the Company or any Subsidiary.

Interest Credits shall mean the interest credit added to the Member’s Account as described in Section 3.5.

International Service shall mean those services provided to an Affiliate by an Employee while the Employee is properly designated on the records of the Employer (e.g., LINK Enterprise Assignment Manager) as a mobile employee or as otherwise determined in accordance with guidelines established by the Committee.

Member shall mean an Employee who has engaged in International Service, who has become a Member of the Plan as provided in Article II hereof, and who has not ceased to be a Member. 

ORP shall mean The Coca-Company Export Corporation Overseas Retirement Plan, as amended and restated effective October 1, 2007, including subsequent amendments.

Plan shall mean The Coca-Cola Export Corporation Mobile Employees Retirement Plan as herein set forth and as it may be amended from time to time.

Plan Sponsor shall mean The Coca-Cola Export Corporation.

Plan Year shall mean the twelve month period beginning on January 1 and ending on December 31 of each year.

Separation from Service shall mean that employment with an Employer terminates such that it is reasonably anticipated that no further services will be performed.  Separation from Service shall be interpreted in a manner consistent with Section 409A of the Code and the regulations thereunder.

Specified Employee shall mean a key employee of an Employer who meets the requirements of Section 416(i)(1)(A)(i), (ii) or (iii) of the Code, as defined in Section 409A of the Code and the regulations thereunder.

Subsidiary shall mean any corporation not less than 80% of whose voting stock or ownership interest (not including shares having voting power only upon the happening of an event of default) is at the time owned, directly or indirectly, by the Company.   

ARTICLE II
ELIGIBILITY AND APPROVAL FOR PARTICIPATION

		
	1.
	Each Employee of the Company or of any Subsidiary who has performed International Service shall become a Member of this Plan as of the date upon which all the following conditions shall be met:

		
	a.
	Citizenship:  He shall not be a citizen of the United States.

		
	b.
	International Service:  He shall, on such date, be engaged in International Service working in a country other than his home location on a mobile assignment.

		
	c.
	He is employed 1) under the terms and conditions of the Global Mobility Long Term Assignment Policy on a headquarters or host-based assignment, 2) under the terms of the International Service Program, or 3) as an International Auditor.

		
	d.
	He shall not be a participant in any plan qualified pursuant to Section 401(k) of the Code.

		
	2.
	A Member shall continue to participate in the Plan until the earliest of:  i) the date any of the conditions in Section 2.1 is no longer satisfied; ii) has a Separation from Service; or iii) is ineligible for continued participation under guidelines established by the Committee.

ARTICLE III
PLAN ACCOUNTS AND CONTRIBUTIONS

		
	1.
	Each Member shall have an Account administered in his name by the Plan Sponsor.  Such Account shall be a bookkeeping entry only and no assets shall be placed in the Member’s name.

		
	2.
	Each Account shall be credited with hypothetical contributions allocated to such Account in accordance with Subsection 3.3 below and credited with hypothetical interest credits as provided in Subsection 3.5 below.  Such an Account shall be maintained for a Member until the value of all hypothetical contributions or interest has been distributed to or on behalf of the Member. 

		
	3.
	Except as provided in Section 3.4, and unless the Member is no longer eligible for contributions, the Plan Sponsor shall credit to each Member’s Account a hypothetical contribution equal to not more than 10% of the Member’s Compensation paid during each month.  If Compensation is denominated in a 

currency other than U.S. dollars, an equivalent amount in U.S. dollars, using a conversion method determined by the Administrator, shall be used.  

		
	4.
	Any Company Core Contribution in excess of 10% must be approved by the Committee or the Global Head of Total Rewards, or the person with similar title and responsibilities within 60 days of the Members’ first day of eligibility for the Plan; otherwise, the Company Core Contribution shall remain at or below 10%.  

		
	5.
	A Member’s Account will be credited with an Interest Credit at the end of each month in a Plan Year.  The Interest Credit shall equal the product of the Annual Interest Rate for the Plan Year (expressed as a monthly prorated rate) and the balance of the Member’s Account as of the first day of each month of such Plan Year.  For example, the Annual Interest Rate for the Plan Year beginning January 1, 2012 and ending December 31, 2012, prorated monthly, will be multiplied by the Member’s Account as of January 1, 2012.  The Interest Credit in this example would be credited to the Member’s Account as of January 31, 2012.

No additional Interest Credits shall be added to the Member’s Account on or after the Member’s Separation from Service.

ARTICLE IV
VESTING

		
	1.
	The Member shall be 100% vested in the Company Core Contribution under the Plan at all times.  A Member shall be vested in his Company Discretionary Contribution Subaccount(s) as follows:

		
	a.
	In the case of his Company Discretionary Contribution, in accordance with any schedule that the Company or the Compensation Committee, where applicable, establishes with respect to his Company Discretionary Contribution, provided that the vesting period for Company Discretionary Contributions shall be at least 12 months.

		
	b.
	In the case of his Company Discretionary Early Retirement Contribution, the earliest of 1) on the Member’s Earliest Retirement Date as that term is defined in the ORP, and 2) December 31, 2021.

		
	c.
	In the case of his Company Discretionary Early Retirement Sweepback Contribution, the later of 1) the date he satisfies the vesting requirements in Section 4.1(b) and 2) the date he satisfies the vesting requirements in Section 4.1(d).  If one or both of these vesting requirements is not met, then the Company Discretionary Early Retirement Sweepback Contribution is forfeited.

		
	d.
	In the case of his Company Discretionary Sweepback Contribution, on the date on which the Member completes four years of International Service.  If the Member cases to satisfy any of the conditions in Section 2.1 before attaining four years of International Service, then the Company Discretionary Sweepback Contribution is forfeited.

		
	2.
	Upon death or the Disability of a Member, or in the event of a Change of Control, the Member shall be 100% vested in his or her Company Discretionary Contribution Subaccounts, unless otherwise provided by the Company or Compensation Committee, where applicable, at the time the contribution to the applicable subaccount is made.

ARTICLE V
PAYMENT OF ACCOUNTS

Benefits under the Plan may be made only in the form and upon occurrence of the events specified in this section.

		
	5.1
	Form of payment.   All benefits under this Plan shall be paid in a single lump sum.

5.2    Distribution events and time of payment.

		
	(a)
	Separation from Service - U.S. Taxpayers.  Upon a Member’s Separation from Service, his vested Account balance attributable to contributions received while a U.S. Taxpayer shall be paid to the Member on the last business day of the third month following the month in which the Member has a Separation from Service.  Notwithstanding the foregoing, the Account of a Specified Employee shall be paid on the last business day of the sixth month following the month in which the Specified Employee has a Separation from Service.  

		
	(b)
	Separation from Service - Non-U.S. Taxpayers.  Upon a Member’s termination of employment from an Employer and an Affiliate, his vested Account balance shall be paid to the Member on the last business day of the third month following the month in which the Member has a Separation from Service.  For example, if a Member terminates with an Employer and begins employment with an Affiliate, there is no Separation of Service until the Member is no longer providing services to an Affiliate.  Notwithstanding the foregoing, the Account of a Specified Employee shall be paid on the last business day of the sixth month following the month in which the Specified Employee has a Separation from Service.  

		
	(c)
	Death.  In the event of a Member’s death, his vested Account balance shall be paid to his Beneficiary on the last business day of the second month following the month of the Member’s death. 

		
	(d)
	Disability.  In the event of a Member’s Disability, his vested Account balance shall be paid to the Member on the last business day of the third month following the month in which the Member is Disabled. 

		
	1.
	Other terms and conditions of payment.

		
	(a)
	Neither Members nor any other persons shall have any rights to payments or benefits of any kind under this Plan until such payments or the payment of benefits have actually been made.

		
	(b)
	All payments shall be made in U.S. dollars.  The payment may be made to the Member only in the Member’s country of residence (determined at the time of payment) unless a different location is required due to tax withholding requirements as determined by the Committee.

  
		
	(c)
	Benefits payable under this Plan shall be the obligation of the Plan Sponsor.  All payments are paid from the general assets of the Plan Sponsor or Company.

		
	(d)
	A Member's failure to cash a benefit check within two years of issuance or attempted delivery of such payment shall result in a forfeiture of such payment to the Company.

ARTICLE VI
CHANGE OR DISCONTINUANCE OF PLAN

		
	1.
	The Committee may at any time and from time to time amend, suspend or terminate this Plan in whole or with respect to any one or more employees of said Company or any other Employer.

		
	2.
	In the event the Plan should be so discontinued, the Committee shall determine the amount of benefits attributable under the Plan to the date of discontinuance.  Actual payment of any such benefits shall be subject to approval of the Committee.

ARTICLE VII
ADMINISTRATION OF PLAN

		
	1.
	Appointment of Committee.  The Company’s Vice President of Human Resources, or his designee, shall appoint a Committee of no less than three and no more than seven members, one of whom shall be designated by it as Chairman.  Members of this Committee may be chosen without regard to whether they are directors, officers or employees of the Company or a Subsidiary.  All members of the Committee shall serve at the pleasure of the Vice President of Human Resources of the Company or his designee.  Vacancies on the Committee, arising for any reason whatsoever, shall be filled by the Vice President of Human Resources of the Company or his designee.  Any member of the Committee may resign of his own accord by delivering his written resignation to the Vice President of Human Resources of the Company or his designee.

		
	2.
	Organization and Operation of Committee.  The Chairman present shall preside at meetings of the Committee.  In his absence, those present will choose one of their number to act as Chairman.  The Committee may appoint a Secretary, who shall keep the minutes of the meetings and perform such other duties as may be assigned to him by the Committee, together with such other officers as it shall deem necessary.  Neither the Secretary nor any other officer appointed by the Committee need be members.  The Committee shall act by the majority of members then in office at all meetings and may set up a procedure to act upon matters by vote in writing without a meeting.  The Committee may authorize one or more of its 

members and/or its Secretary or Assistant Secretary to sign directions, communications and to execute documents on behalf of the Committee.

		
	3.
	Powers of the Committee.  The Committee shall administer the Plan and shall have the exclusive responsibility and complete discretionary authority to control the operation and administration of the Plan, with all powers necessary to enable it to properly carry out such responsibility, including but not limited to the power to approve or disapprove a Subsidiary’s adoption of this Plan, the power to construe the terms of the Plan, to determine status, coverage and eligibility for benefits and to resolve all interpretive, equitable, and other questions, including questions of fact, that shall arise in the operation and administration of the Plan.  All actions or determinations of the Committee shall be final, conclusive and binding on all persons.  The Committee shall appoint the Administrator to administer the Plan and to perform other related actions as may from time to time be agreed by the Committee.  

		
	4.
	Expenses of Committee.  The Company shall pay all expenses of the Committee.  Such expenses shall include any expenses incident to the functioning of the Committee, including, but not limited to, salaries of employees, fees for actuarial and other services, attorney’s fees, accounting charges and other costs of administering the Plan.

		
	5.
	Liability of Employer and Committee.  Neither the Employer nor any Committee member shall be liable for the loss or damage which may result in connection with the execution of his duties or the exercise of his discretion or from any other act or omission hereunder, except when due to his own negligence or willful misconduct.

		
	6.
	    Claims Procedure.

		
	(a)
	Right to Make Claim.  An interested party who disagrees with a determination of his or her right to Plan benefits must submit a written claim and exhaust this claim procedure before legal recourse of any type is sought.  The claim must include a description of the relevant evidence the interested party believes support the claim and must be submitted to the Committee.  The Committee (or its designee) shall either approve or deny the claim.

		
	(b)
	Appeal of Denial and Final Review.  The interested party may make a written appeal of the Committee's initial decision, and the Committee (or its designee) shall respond.  

		
	(c)
	Time Frame.  The initial claim, its review, appeal and final review shall be made in a timely fashion, subject to the following time table:

	
		
	Action
	Days to Respond From Last Action

	 
	 

	Benefit is determined
	N/A

	Interested party files initial request      
	60 days (subject to subsection (d) below)

	Committee's initial decision
	90 days

	Interested party requests final review
	60 days

	Committee's final decision
	90 days

However, the Committee may take up to twice the maximum response time for its initial and final review if it provides an explanation within the normal period of why an extension is needed and when its decision shall be forthcoming.

		
	(a)
	Limitation on Actions.  Any claim must be brought within one year after (a) in the case of any lump-sum payment, the date on which the payment was made; or (b) for all other claims, the date on which the action complained of occurred, which is the date on which the Member became aware of the action complained of.  Any suit must be brought within one year after the date the Committee (or its designee) has made a final denial (or deemed denial) of a claim for benefits.  Notwithstanding any other provision herein, any suit must be brought within two years after the date the claim first arose (as described above).  

ARTICLE VIII
MISCELLANEOUS PROVISIONS

		
	1.
	Subsidiaries.  In the event the Committee shall determine that a corporation has ceased to be a Subsidiary, such former Subsidiary shall be deemed to have withdrawn from the Plan as of the first day of the next succeeding month, following such determination of the Committee, or, in lieu thereof, as of such other date as the Committee shall determine.  Thereupon, the Plan is deemed to have been discontinued with respect to the employees of said former Subsidiary.

		
	2.
	Limitation of Responsibility.  Neither the establishment of this Plan nor any modification thereof, nor the creation of any fund or account, nor the payment of any benefits, shall be construed as giving to any Member or other person any legal or equitable right against the Company, or of its Subsidiaries, or any officer or employee thereof, or the Committee, except as herein provided; and in no event shall the terms of employment of any Member be modified or in any way affected thereby.

		
	3.
	Restrictions on Alienation and Assignment.  Except as set forth in Section 8.6, the right of any Member or any other person to any benefit or to any payment hereunder or to any separate account shall not be subject to alienation or assignment, and if such Member or other person shall attempt to assign, transfer or dispose of such right, or should such right be subjected to attachment, execution, garnishment, sequestration or other legal, equitable or other process, it shall ipso facto pass to such one or more persons as may be selected by the Committee; provided, however, that the Committee in its sole discretion may reappoint the Member or other person to receive any payment thereafter authorized.  The Committee may revoke any appointment made by the Committee hereunder at any time, and a further appointment made by it.

		
	4.
	Authority of Officers of the Company or of a Subsidiary.  Whenever the Company or a Subsidiary under the terms of this Plan is permitted or required to do or perform any act or matter or thing, it shall be done and performed by any officer thereunder duly authorized by its Board of Directors.

		
	5.
	Controlling Law.  This Plan shall be subject to the laws of the State of Delaware (except to the extent that Delaware conflicts of law rules would call for the application of the law of another jurisdiction) and any and all disputes arising under this Plan are to be resolved exclusively by courts sitting in Delaware.  The parties hereby waive any claims of improper venue or lack of personal or subject matter jurisdiction as to any such disputes. 

		
	6.
	Offset for Monies Owed.  The benefits provided hereunder will be offset for any monies that the Committee or its designee determines are owed to the Company or any Subsidiary.

By:    /s/ CEREE EBERLYExhibit

Exhibit 10.47
[Letterhead of The Coca-Cola Company]

COCA-COLA PLAZA
ATLANTA, GEORGIA
	
			
	MUHTAR KENT
	 
	ADDRESS REPLY TO:

	CHAIRMAN AND CHIEF EXECUTIVE OFFICER
	 
	PO BOX 1734

	THE COCA-COLA COMPANY
	 
	ATLANTA, GA  30301

	 
	 
	 

	 
	 
	404 676-4082

	 
	 
	FAX:  404 676-7121

December 15, 2015

Alex Cummings
The Coca-Cola Company
Atlanta, Georgia

Dear Alex,

We thank you very much for all of your contributions to The Coca-Cola Company (the “Company”), our people and the Coca-Cola system. I personally wish you and your family all the best in your retirement.  This letter outlines the terms of your separation from the Company.  Except as otherwise provided below, all applicable elements of your separation package will be paid under the terms of the relevant policies and plans of the Company.  

		
	1.
	You will step down from your current position as Chief Administrative Officer, effective December 31, 2015.  From January 1, 2016 through March 31, 2016, you will continue to work your normal schedule and assist with the transition of your responsibilities and related work as necessary.  You will step down from your role as Executive Vice President and separate from the Company on March 31, 2016 (“Separation Date”).  

		
	2.
	

		
	3.
	If you sign the enclosed release, you will be eligible for a benefit under The Coca-Cola Company Severance Pay Plan equivalent to two years of base salary, based on your current annual salary.  This amount will be paid in a lump sum shortly after your Separation Date.  This amount is subject to all applicable tax and withholdings. 

		
	4.
	You will receive an annual incentive award for 2015 and a prorated award for 2016 under the standard terms and conditions of the annual Performance Incentive Plan.  The actual payment amount is contingent upon actual Company performance and your performance.  Any such award will be paid at the same time such awards are paid to all other similar Company executives.  Your participation and any award made to you shall be determined by the Compensation Committee.   

		
	5.
	The Compensation Committee has extended to you the terms of the Special Equity Program with respect to all equity granted prior to 2013 on the same terms and conditions applicable to other eligible employees who are at least age 50 with at least 10 years of service. This is conditioned upon you signing the enclosed release.  For equity awards granted in 2013 and after, the existing terms of the plans and related agreements apply.  When you exercise your stock options or receive shares underlying PSU awards, you will be personally liable for paying any taxes owed except as expressly provided by the Company’s International Service Policy or Tax Equalization Policy.  You will not receive any additional equity awards.  Your equity awards will be treated as summarized below.   

Stock Options
		
	•
	Your stock options continue to vest for up to four years following your Separation Date.  You will have up to four years, or, if earlier, the normal date of expiration, to exercise all of your vested options.  

		
	•
	

2013-2015 PSU Plan    
		
	•
	You continue to be eligible for a payment, if any, under this program based on performance.  However, please note that this plan is not currently expected to pay out. 

		
	•
	

2014-2016 PSU Plan    
		
	•
	The award shall be prorated for the number of months you work during the performance period (for example, 27/36ths for a Separation Date of March 31, 2016).  The award remains subject to the performance criteria.  The remaining shares will be forfeited.  

		
	•
	

2015-2017 PSU Plan    
		
	•
	Provided you remain employed at least through twelve months from the date of grant, the award shall be prorated for the number of months you work during the performance period (for example,15/36ths for a Separation Date of March 31, 2016).  The award remains subject to the performance criteria.  The remaining shares will be forfeited.

		
	•
	

		
	1.
	Your retirement benefits will consist of those benefits you have accrued under the standard terms and conditions of the plans in which you participate and in which benefits are vested as of your Separation Date.   

		
	2.
	You will continue to be reimbursed up to $10,000 per year in financial planning and related expenses incurred by you annually up through your Separation Date.  

		
	3.
	The Company will provide at its expense outplacement services through a designated services provider.

		
	4.
	The terms and conditions in this letter are further conditioned upon your signing and adhering to the attached Full and Complete Release and Agreement on Competition, Trade Secrets and Confidentiality.

Alex, thank you again for your many years of dedicated service to the Company.  Please contact Ceree Eberly should you have any additional questions regarding the terms of this letter or the terms of any of the benefit plans.
Sincerely,
/s/ Muhtar Kent
Muhtar Kent
Chief Executive Officer

Agreed to and accepted this 23rd day of December, 2015.
/s/ Alex Cummings
Attachments
cc:    Ceree Eberly

FULL AND COMPLETE RELEASE
AND AGREEMENT ON COMPETITION, 
TRADE SECRETS AND CONFIDENTIALITY

Release.
I, Alex Cummings, in consideration of the payments and benefits under The Coca-Cola Company Severance Pay Plan, the benefits and payments described in the letter dated December 15, 2015, and other good and valuable consideration, for myself and my heirs, executors, administrators and assigns, do hereby knowingly and voluntarily release and forever discharge The Coca-Cola Company (“TCCC”), and its subsidiaries, affiliates, joint ventures, joint venture partners, and benefit plans (collectively with TCCC, referred to herein as the “Company"), and their respective current and former directors, officers, administrators, trustees, employees, agents, and other representatives, (collectively with the Company, referred to herein as “Releasees”) from all debts, claims, actions, causes of action (including without limitation those under the Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. § 1001 et seq.; the Worker Adjustment and Retraining Notification Act of 1988, 29 U.S.C. § 2101 et seq.; and those federal, state, local, and foreign laws prohibiting employment discrimination based on age, sex, race, color, national origin, religion, disability, veteran or marital status, sexual orientation, or any other protected trait or characteristic, or retaliation for engaging in any protected activity, including without limitation the Age Discrimination in Employment Act of 1967, 29 U.S.C. § 621 et seq. (“ADEA”), as amended by the Older Workers Benefit Protection Act, P.L. 101-433; the Equal Pay Act of 1963, 9 U.S.C.§ 206, et seq.; Title VII of The Civil Rights Act of 1964, as amended, 42 U.S.C. § 2000e et seq.; the Civil Rights Act of 1866, 42 U.S.C. § 1981; the Civil Rights Act of 1991, 42 U.S.C. § 1981a; the Americans with Disabilities Act, 42 U.S.C. § 12101 et seq.; the Rehabilitation Act of 1973, 29 U.S.C. § 791 et seq.; and comparable state, local, and foreign causes of action, whether statutory or common law), suits, dues, sums of money, accounts, reckonings, covenants, contracts, claims for costs or attorneys' fees, controversies, agreements, promises, and all liabilities of any kind or nature whatsoever, at law, in equity, or otherwise, KNOWN OR UNKNOWN, fixed or contingent, which I ever had, now have, or may have, or which I, my heirs, executors, administrators or assigns hereafter can, shall, or may have in the future, including without limitation those arising out of or related to my employment or separation from employment with 

the Company through the date of this Full and Complete Release and Agreement on Competition, Trade Secrets and Confidentiality ("Agreement").
I fully understand and agree that:
		
	1.
	this Agreement is in exchange for the payments and benefits under The Coca-Cola Company Severance Pay Plan, the payments and benefits described in the letter dated December 15, 2015, and other compensation to which I would otherwise not be entitled;

		
	2.
	I am hereby advised to consult with an attorney before signing this Agreement;

		
	3.
	I have 21 days from my receipt of this Agreement within which to consider whether to sign it;

		
	4.
	I have seven days following my signature of this Agreement to revoke the Agreement; and

		
	5.
	this Agreement shall not become effective or enforceable until the revocation period of seven days has expired.

If I choose to revoke this Agreement, I must do so by notifying TCCC in writing.      
Notwithstanding any other provision or paragraph of this Agreement, I do not hereby waive any rights or claims for which waivers or releases are prohibited by applicable law or any rights or claims under the ADEA that may arise after the date I sign this Agreement.
If there is any claim for loss of consortium, or any other similar claim, arising out of or related to my employment or separation of employment with TCCC, I will indemnify and hold Releasees harmless from any liability, including costs and expenses (as well as reasonable attorneys' fees) incurred by the Releasees as a result of any such claim.
I acknowledge and represent that (i) I have received all leave required under the Family and Medical Leave Act of 1993, as amended (“FMLA”), and (ii) do not claim that Releasees violated or denied me rights under the FMLA.  I further acknowledge and represent that I (i) was properly classified as exempt under the Fair Labor 

Standards Act of 1938, as amended (“FLSA”), (ii) have been fully paid for hours I worked for TCCC and (iii) do not claim that TCCC violated or denied me rights under the FLSA.
I additionally understand and agree that this Agreement is not and shall not be construed to be an admission of liability of any kind on the part any of the Releasees.
Future Cooperation.
I covenant and agree that I shall, to the extent reasonably requested in writing, cooperate with and serve in any capacity requested by the Company in any investigation and/or threatened or pending litigation (now or in the future) in which the Company is a party, and regarding which I, by virtue of my employment with TCCC, have knowledge or information relevant to said litigation, including, but not limited to (i) meeting with representatives of the Company to provide truthful information regarding my knowledge, (ii) acting as the Company’s representative, and (iii) providing, in any jurisdiction in which the Company requests, truthful testimony relevant to said litigation, provided the Company pays me reasonable compensation and reimburses me for reasonable expenses incurred in connection with such cooperation.  
Trade Secrets and Confidential Information.
I covenant and agree that I have held and shall continue to hold in confidence all Trade Secrets of the Company that came into my knowledge during my employment by TCCC and shall not disclose, publish or make use of at any time such Trade Secrets for as long as the information remains a Trade Secret.  "Trade Secret" means any technical or non-technical data, formula, pattern, compilation, program, device, method, technique, drawing, process, financial data, financial plan, product plan, list of actual or potential customers or suppliers or other information similar to any of the foregoing, which (i) derives economic value, actual or potential, from not being generally known to and not being readily ascertainable by proper means by, other persons who can derive economic value from its disclosure or use, and (ii) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
I also covenant and agree that, for the period beginning on the date I sign this Agreement and ending two years after I have signed this Agreement or two years after the date my employment ends, whichever is later (“Nondisclosure Period”), I will hold in confidence all Confidential Information of the Company that came into my 

knowledge during my employment by TCCC and will not disclose, publish or make use of such Confidential Information.  "Confidential Information" means any data or information, other than Trade Secrets, that is valuable to the Company and not generally known to the public or to competitors of the Company.   
The restrictions stated in this Agreement are in addition to and not in lieu of protections afforded to trade secrets and confidential information under applicable state law or any prior agreement I have signed or made with the Company regarding trade secrets, confidential information, or intellectual property.  Nothing in this Agreement is intended to or shall be interpreted as diminishing or otherwise limiting the Company’s right under applicable state law or any prior agreement I have signed or made with the Company regarding trade secrets, confidential information, or intellectual property.
Return of Materials.
I further covenant and agree that I have or shall promptly deliver to the Company all memoranda, notes, records, manuals or other documents, including all copies of such materials and all documentation prepared or produced in connection therewith, containing Trade Secrets or Confidential Information regarding the Company's business, whether made or compiled by me or furnished to me by virtue of my employment with the Company.  I shall promptly deliver to the Company all vehicles, computers, credit cards, telephones, handheld electronic devices, office equipment, and other property furnished to me by virtue of my employment with the Company.
No Publicity.  
During the Nondisclosure Period, I will not publish any opinion, fact, or material, deliver any lecture or address, participate in the making of any film, radio broadcast or television transmission, or communicate with any representative of the media relating to confidential matters regarding the business or affairs of the Company which I was involved with during my employment. 
Non Compete and Non Solicitation.
Definitions.  
For the purposes of this Section, the following definitions apply:

(a)    "Non Solicitation Period" means the period beginning on the date I sign this Agreement and ending on March 31, 2018.
(b)    “Restricted Activities” means the involvement in, development of, or oversight of the marketing, sales, operation, innovation, commercial leadership, technology or any human resource activities for Restricted Businesses.
(c)    "Territory" means North America, South America, Asia, Africa, Europe, and Australia and Oceania.
(d)    “Restricted Businesses” means 1) companies whose primary business is the manufacture, sale, distribution and marketing of either carbonated soft drinks, coffee, tea, water, sports drinks, energy drinks, juices or fruit-based beverages (“Non-alcoholic Beverages”) or beverage enhancers, beverage solutions, beverage enablers or other additives, which additives primarily are intended for use in non-alcoholic beverages, (“Beverage Enhancers”), and 2) companies whose business activities includes the manufacture, sale, distribution and marketing of Non-alcoholic Beverages or Beverage Enhancers, but for whom such business(es) may not be the company’s primary business (“Non-Beverage Companies”). 
(e)    “Competing Business Segment” means any subsidiary, division, or unit of the business of a company, where such subsidiary, division, or unit manufactures, sells, distributes, or markets Non-alcoholic Beverages or Beverage Enhancers.  
Non Compete.  
I hereby covenant with the Company that I will not, within the Territory prior to March 31, 2018, without the prior written consent of the Chief Executive Officer of TCCC (the “CEO”), directly or indirectly engage in any Restricted Activities for or on behalf of (including in a consulting capacity) any Restricted Business.  
Notwithstanding the foregoing, I may perform services for Non-Beverage Companies (other than PepsiCo, its subsidiaries and affiliates, including but not limited to Pepsi Bottling Group) that have a Competing Business Segment, provided I do not perform Restricted Activities for such Competing Business Segment, and provided I notify the CEO of the nature of such service in writing within a reasonable time prior to beginning of such services.  

Non Solicitation of Employees.  
I hereby covenant and agree that I will not, during the Non Solicitation Period, without the prior written consent of the CEO, solicit or encourage, or attempt to solicit or encourage, directly or indirectly, for employment for or on behalf of any corporation, partnership, venture or other business entity any person who, on the last day of my employment with TCCC or within twelve months prior to that date, was employed by the Company as a manager or executive and with whom I had professional interaction during the last twelve months of my employment with TCCC to terminate his or her employment with the Company or to accept employment with any other person or entity (whether or not such person would commit a breach of contract by leaving the Company).    
Non Solicitation of Customers.  
I hereby covenant and agree that I will not, during the Non Solicitation Period, without the prior written consent of the CEO, solicit or encourage, or attempt to solicit or encourage, directly or indirectly, any of the Company’s customers, including actively sought prospective customers with whom I had professional interaction during my employment with the Company, to reduce the amount of business which any such customer has customarily done with the Company or contemplates doing with the Company by doing business instead with any of the Restricted Businesses. 
Reasonable and Necessary Restrictions.
I acknowledge that during the course of my employment with TCCC I have received or will receive and had or will have access to Confidential Information and Trade Secrets of the Company, including but not limited to confidential and secret business and marketing plans, strategies, and studies, detailed client/customer/bottler lists and information relating to the operations and business requirements of those clients/customers/bottlers and, accordingly, I am willing to enter into the covenants contained in this Agreement in order to provide the Company with what I consider to be reasonable protection for its interests.
I acknowledge that the restrictions, prohibitions and other provisions hereof, are reasonable, fair and equitable in scope, terms and duration, and are necessary to protect the legitimate business interests of the 

Company.  I covenant that I will not challenge the enforceability of this Agreement nor will I raise any equitable defense to its enforcement.
I acknowledge and agree that in the event I breach, or threaten in any way to breach, or it is inevitable that I will breach, any of the provisions of this Agreement, damages shall be an inadequate remedy and the Company shall be entitled, without bond, to injunctive or other equitable relief in addition to all other rights otherwise available to the Company at law or in equity.
Non-Disparagement.
I agree that I will not make any statement, written or verbal, in any forum or media, or take any action in disparagement of the Company, including but not limited to negative references to the Company or its products, services, corporate policies, or current or former officers or employees, customers, suppliers, or business partners or associates.  
Complete Agreement.
This Agreement is the complete understanding between me and the Company in respect of the subject matter of this Agreement and, with the exception of any prior agreement I have signed or made with the Company regarding trade secrets, confidential information, or intellectual property, supersedes all prior agreements relating to the same subject matter.  I have not relied upon any representations, promises or agreements of any kind except those set forth herein in signing this Agreement.
Severability.
In the event that any provision of this Agreement should be held to be invalid or unenforceable, each and all of the other provisions of this Agreement shall remain in full force and effect.  If any provision of this Agreement is found to be invalid or unenforceable, such provision shall be modified as necessary to permit this Agreement to be upheld and enforced to the maximum extent permitted by law.
Governing Law.
Except to the extent preempted by Federal Law, this Agreement will be construed, interpreted, and applied in accordance with the laws of the State of Georgia, without regard to principles of conflicts of law or giving effect to 

the choice-of-law provisions of the State of Georgia or any other jurisdiction and any legal action related to or arising out of this Agreement will be brought exclusively in the federal or state courts located in the State of Georgia.  I hereby consent to the jurisdiction of such courts.
Successors and Assigns.
This Agreement inures to the benefit of the Company and its successors and assigns.
Amendment/Waiver.  
No amendment, modification or discharge of this Agreement shall be valid or binding unless set forth in writing and duly executed by each of the parties hereto.  
Acknowledgment.
I have carefully read this Agreement, fully understand each of its terms and conditions, and intend to abide by this Agreement in every respect.  As such, I knowingly and voluntarily sign this Agreement.

/s/ Alex Cummings            
Alex Cummings

Date:  December 23, 2015

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