Document:

EXHIBIT 10.1

	

                         north america	 	

Gray D. Lindsey 

Senior Vice President

CCNA Business Development and System Economics 

     

	 	 	 

   

May 1, 2006 

Coca-Cola Enterprises,
Inc.

P.O. Box 723040

Atlanta, Georgia 31139 

Attn:      Mr. William W. Douglas, III

            Senior
Vice President and Chief Financial Officer

Re:      U.S. and Canada Cold
Drink Equipment Purchase Partnership Programs 

Dear Bill: 

With reference to the letter
agreement dated December 20, 2005 between The Coca-Cola Company (“TCCC”) and
Coca-Cola Enterprises Inc. (“CCE”) setting forth the U.S. “1999-2010 Cold
Drink Equipment Purchase Partnership Program” (the “U.S. CAPPr Agreement”)
and the letter agreement dated December 21, 2005 between Coca-Cola Ltd. (“CCL”)
and Coca-Cola Bottling Company (“CCBC”) setting forth the Canada “1998-2010
Cold Drink Equipment Purchase Partnership Program” (the “Canada CAPPr
Agreement”), the following shall serve as our mutual understanding relative to Energy
Coolers as referenced in the seventh bullet of the “Purchase Plan” section of
the U.S. CAPPr Agreement and the sixth bullet of the “Purchase Plan” section of
the Canada CAPPr Agreement (the U.S. CAPPr Agreement and the Canada CAPPr Agreement are
sometimes collectively referred to as the “CAPPr Agreements”). All capitalized
terms used in this letter will have the meanings given to them in the CAPPr Agreements
except as defined herein. 

In order to determine the appropriate
Alternative Credit for Energy Coolers under the CAPPr Agreements, TCCC has made certain
throughput and gross profit assumptions. These assumptions are specifically that Energy
Coolers will have an average throughput of **** cases (192 oz. equivalent cases) per week
at an average of $**** gross profit per case. This yields an average weekly gross profit
(the “Expected Gross Profit”) of $**** per Energy Cooler per week (or $**** per
Energy Cooler per year). This “Expected Gross Profit” (with a  ****% annual
inflation factor) was used to calculate the net present value (NPV) of TCCC’s
Expected Gross Profit of Energy Coolers under the CAPPr Agreements from January 2005
through December 2021, the period of time impacted by the CAPPr Agreements. 

****Material has been omitted
pursuant to a request for confidential treatment and filed separately with the SEC. 

During each annual review process,
and based upon the methodology as outlined in the CAPPr Agreements, we will compare the
actual average weekly gross profit from Energy Coolers to the Expected Gross Profit. If
the difference is less than 20% (plus or minus, i.e., the actual average weekly
gross profit is between $**** and $****), then no modifications to the CAPPr Agreements
will be made relative to Energy Cooler performance. If the actual average weekly gross
profit is $**** or less (20% or more negative variance), then the Alternative Credit
multiplier (currently set at ****) will be reduced and additional Venders (or Vendors under
the Canada CAPPr Agreement), Manual Equipment, and/or Energy Coolers will be added to the
Purchase Plan such that the NPV of TCCC gross profit is restored to the amount of the
Expected Gross Profit for the remaining years of the CAPPr Agreements. No additional
Venders (or Vendors under the Canada CAPPr Agreement), Manual Equipment, and/or Energy
Coolers will be added beyond 2010 as a result of a decline of actual average weekly
gross profit below $****. Instead, after 2010 and until December 31, 2021, if the
actual average weekly gross profit of the Energy Coolers is $**** or less, CCE and TCCC
will each act reasonably and in good faith to reach a mutually agreeable solution. If, on
the other hand, the actual average weekly gross profit is $**** or more (20% or more
positive variance), TCCC and CCE will meet to discuss how to best invest the System excess
profits generated by the Energy Cooler elements of the CAPPr program. 

Except as specifically stated herein,
this letter does not modify the terms of the CAPPr Agreements. 

If this accurately reflects our
agreement and understanding, please sign where indicated below and return a signed copy to
me, 

Sincerely, 

	
The Coca-Cola Company 

    By:  /S/ GRAY D. LINDSEY             
    

     Gray D. Lindsey

 Senior Vice President

     CCNA Business
Development and System Economics

    

 

     
	Date:  May 1, 2006

    
    
	
   Accepted
and Agreed to by

    

    
   Coca-Cola
Enterprises Inc.

    By: /S/ WILLIAM W. DOUGLAS    
    

    William
W. Douglas

    Senior
Vice President and Chief Financial Officer 

     
	Date:
    9 May 2006

    
    

****Material has been omitted
pursuant to a request for confidential treatment and filed separately with the SEC.Exhibit 10.1 Employment Offer Letter

     

    

     

     

    May
      9,
      2006

    

    Ernie
      Park

    4205
      Oakwood Lane

    West
      Des
      Moines, Iowa 50265

    

    Dear
      Ernie, 

    

    On
      behalf
      of Select Comfort Corporation, I am pleased to confirm our offer to you as
      Senior Vice President & Chief Information Officer, reporting to me. This
      position is considered as an executive officer of the company. Your anticipated
      start date is May 30, 2006. You will be based in our Plymouth, MN location.
      

    

    The
      agreed upon terms of this exempt, full-time position are as
      follows:

    
      	·  	
              Starting
                bi-weekly salary of $10,000. ($260,000 annualized). You
                will also be eligible for your next salary review in February, 2007.
                

            

    

    
      	 	 

    

    
      	·  	
              You
                will be eligible to receive a one-time lump sum sign on bonus of
                $60,000(less applicable withholdings) within your 30 days of
                employment.

            

    

    

    
      	·  	
              You
                will be eligible to participate in the company’s management bonus
                plan.
                Under the plan as established for 2006, you will be eligible for
                a
                targeted bonus of 55% of base compensation actually paid for the
                year. The
                actual bonus payment may range from 0% to 250% of the targeted bonus
                level, depending on the performance of the Company. Your minimum
                2006
                bonus payment will be paid, assuming start date of no later than
                May 30,
                2006, at full-year target(not pro-rated), with upside if the company
                exceeds plan. 

            

    

    

    
      	·  	
              You
                will be granted options to purchase 60,000 shares of the Company’s common
                stock at a fixed exercise price. The exercise price of these options
                will
                be the average of the high and low trading prices of the Company’s common
                stock on the date of grant, which we expect to be the first day of
                employment. These options will vest 25% per year on each of the first
                4
                anniversaries of the date of grant. You will be eligible for annual
                equity
                grants as part of our annual long-term incentive plan.
                

            

    

    

    
      	·  	
              You
                will also be granted 5000 restricted shares which will vest after
                4
                completed years of service. Per our plan document, the vesting of
                these
                shares would accelerate in the event of a change in control and exercise
                provisions of the plan document would
                apply.

            

    

     

     

     

     

     

     

     

     

     

     

     

     

     

    
 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    You
      will
      be eligible for the company’s director level & above benefits as part of
      your total compensation package. Please refer to the attached summary of
      benefits for details. 

    

    Actual
      benefits are defined in the individual plan documents. You will be eligible
      for
      25 days paid time off annually, plus 10 holidays.

    

    You
      will
      be eligible for the attached relocation benefits as part of your compensation
      package. The maximum cap of relocation expenses would be $120,000. This cap
      is
      expected to include flexibility on temporary living and related storage
      expenses. Expenses within this cap would still need approval, in an effort
      to
      manage total expenses under the maximum, yet still reflect the intent of the
      plan to cover reasonable relocation expenses.  In
      the
      event that you voluntarily leave Select Comfort you agree to re-pay to Select
      Comfort the reimbursed relocation expenses per the attached
      schedule.

    

    If
      your
      employment is terminated by the Company within one (1) year following a change
      of control of the Company, or if you are subject at any time to a termination
      without cause, upon the termination of your employment under such circumstances,
      and subject to the execution and delivery to the Company of a standard release
      of claims, you will be entitled to receive one (1) year’s base salary as
      severance compensation, and the portion of the stock
      options referred to above which have not previously been vested, will vest
      immediately and remain exercisable for a period not to exceed ninety (90) days
      following termination of employment. At your option, the severance compensation
      described above will be payable (a) over a period of one (1) year following
      termination of employment in accordance with the Company’s normal payroll
      schedule, or (b) in a lump sum equal to the present value of such stream of
      payments discounted at a capitalization rate of 10%. In addition, if such
      termination occurs more than half-way through a fiscal year of the Company,
      and
      subject to the execution and delivery to the Company of a standard release
      of
      claims, you will be entitled to receive a pro rata portion of any bonus payment
      that is ultimately earned for such fiscal year, payable at the time such bonus
      payments are paid to other eligible employees.

    

    This
      offer is contingent upon successful completion of your reference, education
      and
      background investigation, and compliance with the Immigration Reform Control
      Act
      of 1986 (IRCA). Furthermore, this offer is conditional upon your signing our
      Employee Inventions, Confidentiality and Non-Compete Agreement, a copy of which
      will be sent under separate cover. In addition, you will need to sign the
      attached release authorizing a background
      check. Please complete and sign the background check release and fax to Kevin
      Gunn’s attention at XXX-XXX-XXXX

    

    You
      should understand that this offer of employment does not constitute a contract
      of employment, nor is it to be construed as a
      guarantee of continuing employment for any period of time. Employment
      with Select Comfort is “at will”. We recognize your right to terminate the
      employment relationship at anytime and for any 

    reason,
      and, similarly, we reserve the right to alter, modify or terminate the
      relationship at any time and for any reason. 

    

    This
      written offer of employment constitutes the entire understanding of the parties
      regarding your hiring and employment, and supersedes and replaces any and all
      oral or 

     

     

     

     

     

     

     

     

     

     

     

     

     

    
 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    written
      statements made by Select Comfort relating to your hiring and employment that
      are inconsistent with its terms. Upon commencement of employment, you will
      be
      subject to all policies and procedures of Select Comfort.

    

    Select
      Comfort is rapidly transforming the industry, and dramatically improving
      people’s lives through better sleep! I look forward to you joining the Select
      Comfort team and we 

    are
      looking forward to your decision no later than Tuesday, May 9, 2006. Should
      you
      have any questions, please contact me directly at XXX-XXX-XXXX. You should
      also
      feel free to call Scott Peterson at XXX-XXX-XXXX orXXX-XXX-XXXX with any
      questions on the offer. 

    

    Sincerely,

    

    /s/
      William R. McLaughlin

    

    William
      R. McLaughlin

    Chairman,
      President & CEO

    

    

    

    Accepted:
      /s/ Ernie Park        Date:
      5/9/06

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}]]