Document:

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                                                                 Exhibit 10.15

                    CONSULTING AND INDEMNIFICATION AGREEMENT

        This Consulting and Indemnification Agreement ("Agreement") is between
Anheuser-Busch Companies, Inc. ("A-BC") and James R. Jones (the "Director
Designee").

        WHEREAS, Anheuser-Busch International Holdings, Inc., a subsidiary of
A-BC, has nominated Director Designee to be a director of Grupo Modelo, S.A.
de C.V. ("Grupo Modelo"); and

        WHEREAS, Director Designee has agreed to serve as a director of Grupo
Modelo and to provide certain consulting services to A-BC;

        NOW, THEREFORE, in consideration of the foregoing premises and
respective representations, warranties, covenants and agreements, and upon the
terms and subject to the conditions hereinafter set forth, and intending to be
legally bound hereby, the parties do hereby agree as follows:

        1. Certain Definitions:
           -------------------

           (a) Claim: any threatened, pending or completed action, suit
               -----
               or proceeding, or any inquiry, hearing or investigation,
               whether conducted by A-BC or any other party, that Director
               Designee in good faith believes might lead to the institution
               of any such action, suit or proceeding, whether civil, criminal,
               administrative, investigative or other.

           (b) Expenses: include attorneys' fees and all other costs,
               --------
               expenses and obligations paid or incurred in connection with
               investigating, defending, being a witness in or participating
               in (including on appeal) any Claim relating to any Indemnifiable
               Event.

           (c) Indemnifiable Event: any event or occurrence related to the
               -------------------
               fact that Director Designee is or was a director, alternate
               director, agent or fiduciary of Grupo Modelo, or by reason of
               anything done or not done by Director Designee in any such
               capacity.

           (d) Reviewing Party: any appropriate person or body consisting
               ---------------
               of a member or members of A-BC's Board of Directors; any other
               person or body appointed by the Board who is not a party to
               the particular Claim for which Director Designee is seeking
               indemnification and, to the extent permitted by applicable
               law, any officer of A-BC authorized therefor.

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        2. Consulting Services. Director Designee agrees to serve as a director
           -------------------
of Grupo Modelo and agrees to refrain from resigning as a director without
giving A-BC at least 30 days' advance written notice. From time to time,
Director Designee agrees to be reasonably available to A-BC for discussions and
advice concerning Grupo Modelo.

        3. Compensation. A-BC shall annually pay to the Director Designee any
           ------------
amount by which the aggregate cash fees that A-BC would have paid Director
Designee for each calendar year had the Director Designee been a member of the
Board of Directors of A-BC exceeds the cash fees actually paid to the Director
Designee by Grupo Modelo for services on the Board of Directors of Grupo Modelo,
taking into account (i) the committees of the Board of Directors of Grupo Modelo
on which the Director Designee served and the capacities in which the Director
Designee served; (ii) the meetings of the Board of Directors of Grupo Modelo and
of the committees thereof on which the Director Designee served, scheduled and
held during that calendar year and the number of such meetings that the Director
Designee attended; and (iii) the portion of such calendar year during which
Director Designee served on the Board of Directors of Grupo Modelo or any
committee thereof. Within 45 days after the end of each of the first three
calendar quarters in each year, A-BC shall pay to Director Designee its estimate
of one-quarter of the annual amount required to be paid by A-BC under this
Section 3, and on or prior to February 15 of each year A-BC shall pay to the
Director Designee any amount by which the annual amount required to be paid by
A-BC under this Section 3 exceeds the aggregate payments previously made by A-BC
with respect to such calendar year.

        4. Basic Indemnification Arrangement.
           ---------------------------------

           (a) In the event Director Designee was, is or becomes a party to
               or witness or other participant in, or is threatened to be made a
               party to or witness or other participant in, a Claim by reason of
               (or arising in part out of) an Indemnifiable Event, A-BC shall
               indemnify Director Designee to the fullest extent permitted by
               law, as soon as practicable but in any event no later than thirty
               days after written demand is presented to A-BC, against any and
               all Expenses, judgments, fines, penalties and amounts paid in
               settlement (including all interest, assessments and other Charges
               paid or payable in connection with or in respect of such
               Expenses, judgments, fines, penalties or amounts paid in
               settlement) of such Claim and any federal, state, local or
               foreign taxes imposed on the Director Designee as a result of the
               actual or deemed receipt of any payments under this Agreement.
               Notwithstanding anything in this Agreement to the contrary and
               except as provided in Section 5, Director Designee shall not be
               entitled to indemnification pursuant to this

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               Agreement in connection with any Claim initiated by Director
               Designee against A-BC or any director or officer of A-BC unless
               A-BC has joined in or consented to the initiation of such Claim.
               If so requested by Director Designee, A-BC shall advance (within
               two business days of such request) any and all Expenses to
               Director Designee (an "Expense Advance").

           (b) Notwithstanding the foregoing, (i) the obligations of A-BC
               under Section 4(a) shall be subject to the condition that the
               Reviewing Party shall not have determined that the Director
               Designee is not entitled to be indemnified under applicable law,
               and (ii) the obligation of A-BC to make an Expense Advance
               pursuant to Section 4(a) shall be subject to the condition that,
               if, when and to the extent that the Reviewing Party determines
               that Director Designee would not be permitted to be so
               indemnified under applicable law, A-BC shall be entitled to be
               reimbursed by Director Designee (who hereby agrees to reimburse
               A-BC) for all such amounts theretofore paid; provided, however,
               that if Director Designee has commenced legal proceedings in a
               court of competent jurisdiction to secure a determination that
               Director Designee should be indemnified under applicable law, any
               determination made by the Reviewing Party that Director Designee
               would not be permitted to be indemnified under applicable law
               shall not be binding and Director Designee shall not be required
               to reimburse A-BC for any Expense Advance until a final judicial
               determination is made with respect thereto (as to which all
               rights of appeal therefrom have been exhausted or lapsed).
               Director Designee's obligation to reimburse A-BC for Expense
               Advances shall be unsecured and no interest shall be charged
               thereon. If there has been no determination by the Reviewing
               Party or if the Reviewing Party determines that Director Designee
               substantively would not be permitted to be indemnified in whole
               or in part under applicable law, Director Designee shall have the
               right to commence litigation in any court in the States of
               Missouri or Delaware having subject matter jurisdiction thereof
               and in which venue is proper, seeking an initial determination by
               the court or challenging any such determination by the Reviewing
               Party or any aspect thereof, and A-BC hereby consents to service
               of process and to appear in any such proceeding. Any
               determination by the Reviewing Party otherwise shall be
               conclusive and binding on A-BC and Director Designee.

        5. Indemnification for Additional Expenses. A-BC shall indemnify
           ---------------------------------------
Director Designee against any and all expenses (including attorneys' fees) and,
if requested by Director Designee, shall (within two business days of such
request)

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advance such expenses to Director Designee, which are incurred by Director
Designee in connection with any claim asserted against or action brought by
Director Designee for (i) indemnification or advance payment of Expenses by
A-BC under this Agreement or any other agreement or under applicable
law or the Company's Restated Certificate of Incorporation or By-laws now or
hereafter in effect relating to Claims for Indemnifiable Events and/or
(ii) recovery under any directors' and officers' liability insurance policies
maintained by A-BC, in each case under (i) or (ii) regardless of whether
Director Designee ultimately is determined to be entitled to such
indemnification, advance expense payment or insurance recovery, as the case
may be.

        6. Partial Indemnity, Etc. If Director Designee is entitled under any
           -----------------------
provision of this Agreement to indemnification by A-BC for some or a portion of
the Expenses, judgments, fines, penalties and amounts paid in settlement of a
Claim but not, however, for all of the total amount thereof, A-BC shall
nevertheless indemnify Director Designee for the portion thereof to which
Director Designee is entitled. Moreover, notwithstanding any other provision of
this Agreement, to the extent that Director Designee has been successful on the
merits or otherwise in defense of any or all Claims relating in whole or in part
to an Indemnifiable Event or in defense of any issue or matter therein,
including dismissal without prejudice, Director Designee shall be indemnified
against all Expenses incurred in connection therewith. In connection with any
determination by the Reviewing Party or otherwise as to whether Director
Designee is entitled to be indemnified hereunder, the burden of proof shall be
on A-BC to establish that Director Designee is not so entitled.

        7. No Presumption. For purposes of this Agreement, the termination of
           --------------
any claim, action, suit or proceeding, by judgment, order, settlement (whether
with or without court approval) or conviction, or upon a plea of nolo
contendere, or its equivalent, shall not create a presumption that Director
Designee did not meet any particular standard of conduct or have any particular
belief or that a court has determined that indemnification is not permitted by
applicable law.

        8. Non-exclusivity, Etc. The rights of the Director Designee hereunder
           ---------------------
shall be in addition to any other rights Director Designee may have under A-BC's
Restated Certificate of Incorporation or By-laws or the Delaware General
Corporation Law or otherwise. To the extent that a change in the Delaware
General Corporation Law (whether by statute or judicial decision) occurring
after the date hereof permits greater indemnification by agreement than would be
afforded currently under A-BC's Restated Certificate of Incorporation and
By-laws and this Agreement, it is the intent of the parties hereto that Director
Designee shall enjoy by this Agreement the greater benefits so afforded by such
change.

        9. Liability Insurance. To the extent A-BC maintains an insurance policy
           -------------------
or policies providing directors' and officers' liability insurance, Director
Designee

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shall be covered by such policy or policies, in accordance with its or their
terms, to the maximum extent of the coverage available to Director Designee.

        10. Amendments, Etc. No supplement, modification or amendment of this
            ----------------
Agreement shall be binding unless executed in writing by both of the parties
hereto. No waiver of any of the provisions of this Agreement shall be deemed or
shall constitute a waiver of any other provisions hereof (whether or not
similar) nor shall such waiver constitute a continuing waiver.

        11. Subrogation. In the event of payment under this Agreement, A-BC
            -----------
shall be subrogated to the extent of such payment to all of the rights of
recovery of Director Designee against any other party, including Grupo Modelo,
and Director Designee shall execute all papers required and shall do everything
that may be necessary to secure such rights, including the execution of such
documents necessary to enable A-BC effectively to bring suit to enforce such
rights.

        12. No Duplication of Payments. A-BC shall not be liable under this
            --------------------------
Agreement to make any payment in connection with any claim made against Director
Designee to the extent Director Designee has otherwise actually received payment
(under any insurance policy, from Grupo Modelo or otherwise) of the amounts
otherwise indemnifiable hereunder.

        13. Binding Effect, Etc. This Agreement shall be binding upon and inure
            --------------------
to the benefit of and be enforceable by the parties hereto and their respective
successors, assigns, including any direct or indirect successor by purchase,
merger, consolidation or otherwise to all or substantially all of the business
and/or assets of A-BC, spouses, heirs, and personal and legal representatives.
A-BC shall require and cause any successor (whether direct or indirect by
purchase, merger, consolidation or otherwise) to all, substantially all, or a
substantial part, of the business and/or assets of A-BC, by written agreement in
form and substance satisfactory to Director Designee, expressly to assume and
agree to perform this Agreement in the same manner and to the same extent that
A-BC would be required to perform if no such succession had taken place.

        14. Severability. The provisions of this Agreement shall be severable in
            ------------
the event that any of the provisions hereof (including any provision within a
single section, paragraph or sentence) are held by a court of competent
jurisdiction to be invalid, void or otherwise unenforceable, and the remaining
provisions shall remain enforceable to the fullest extent permitted by law.
Furthermore, to the fullest extent possible, the provisions of this Agreement
(including, without limitation, each portion of this Agreement containing any
provision held to be invalid, void or otherwise unenforceable, that is not
itself invalid, void or unenforceable) shall be construed so as to give effect
to the intent manifested by the provision held invalid, illegal or
unenforceable.

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        15. Governing Law. This Agreement shall be governed by and construed and
            -------------
enforced in accordance with the laws of the State of Delaware applicable to
contracts made and to be performed in such State without giving effect to the
principles of conflicts of laws.

        16. Termination.
            -----------

            (a) At the option of A-BC, A-BC may terminate this Agreement and
                its obligations hereunder by written notice to the Director
                Designee delivered to his address as recorded upon the records
                of A-BC. Upon receipt by Director Designee of such notice, A-BC
                shall have no further obligations hereunder; provided that such
                termination shall not limit the rights of the Director Designee
                or the obligations of A-BC with respect to any Indemnifiable
                Event occurring prior to such termination.

            (b) In the event that Director Designee terminates service as a
                director of Grupo Modelo, this Agreement shall terminate, but
                such termination shall not limit the rights or obligations of
                Director Designee or A-BC hereunder arising prior to such
                termination or the obligations of A-BC with respect to any
                Indemnifiable Event occurring prior to such termination.

        IN WITNESS WHEREOF, the parties hereto have duly executed and delivered
this Agreement as of October 1, 1997.

                         ANHEUSER-BUSCH COMPANIES, INC.

                         By: /s/ W. Randolph Baker
                             -----------------------
                         Title: Vice President and Chief Financial Officer

                         /s/ James R. Jones
                         -----------------------------
                         [James R. Jones]

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                             AMENDMENT TO CONSULTING
                          AND INDEMNIFICATION AGREEMENT

         This Amendment to Consulting and Indemnification Agreement
("Amendment") is between Anheuser-Busch Companies, Inc. ("A-BC") and James R.
Jones (the "Director Designee").

         WHEREAS, A-BC and Director Designee have entered into a Consulting and
Indemnification Agreement (the "Indemnification Agreement") dated as of October
1, 1997;

         WHEREAS, A-BC and Director Designee have agreed to clarify certain
provisions in the Indemnification Agreement;

         NOW, THEREFORE, in consideration of the foregoing premises and the
respective covenants and agreements, and upon the terms and subject to the
conditions hereinafter set forth, and intending to be legally bound hereby, the
parties do hereby agree as follows:

         1. Section 16(a) of the Indemnification Agreement is hereby deleted and
the following is hereby inserted in its place:

            (a) At the option of A-BC, A-BC may terminate this Agreement and
                its obligations hereunder by written notice to the Director
                Designee delivered to his address as recorded upon the records
                of A-BC. Upon receipt by Director Designee of such notice,
                A-BC shall have no further obligations hereunder; provided that
                such termination shall not limit the rights of the Director
                Designee or the obligations of A-BC with respect to any
                Indemnifiable Event occurring prior to such termination.

         2. This Amendment shall be effective and shall apply and take effect as
of the date of the Indemnification Agreement. All other provisions of the
Indemnification Agreement that are not explicitly modified hereby shall remain
in full force and effect, and this Amendment shall be construed in connection
with and as part of the Indemnification Agreement.

         3. This Amendment shall be governed by and construed and enforced in
accordance with the laws of the State of Delaware applicable to contracts made
and to be performed in such State without giving effect to the principles of
conflicts of laws.

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         IN WITNESS WHEREOF, the parties hereto have duly executed and delivered
this Amendment as of January 1, 1998.

                            ANHEUSER-BUSCH COMPANIES, INC.

                            By: /s/ W. Randolph Baker
                                --------------------------
                            Title: Vice President and Chief Financial Officer

                            /s/ James R. Jones
                            ------------------------------
                            [James R. Jones]<PAGE>
                                                                   Exhibit 10.16

                            INDEMNIFICATION AGREEMENT
                            -------------------------

         This Indemnification Agreement ("Agreement") is between Anheuser-Busch,
 Incorporated ("ABI") and                         (the "Indemnitee").
                          -----------------------

         WHEREAS, Indemnitee is a director or an officer of ABI and ABI is a
direct subsidiary of Anheuser-Busch Companies, Inc. ("A-BC").

         WHEREAS, ABI has determined that the service by Indemnitee as a
director of other corporations, partnerships, joint ventures, trusts, employee
benefit plans or other enterprises is beneficial to Indemnitee in the
performance of his duties and obligations as a director or an officer of ABI.

         WHEREAS, at the request of ABI, Indemnitee has agreed to serve as a
director or member of other governing body of other corporations, partnerships,
joint ventures, trusts or other enterprises as may be specified from time to
time by the board of directors of ABI or by an officer authorized by the board
of directors of ABI (each, a "Company," collectively the "Companies");

         WHEREAS, both ABI and Indemnitee recognize the increased risk of
litigation and other claims being asserted against directors of other
corporations, partnerships, joint ventures, trusts or other enterprises in
today's environment;

         WHEREAS, in recognition of Indemnitee's need for substantial protection
against personal liability in order to enhance Indemnitee's continued service to
ABI in an effective manner, and in order to induce Indemnitee to serve as a
director or member of other governing body of the Companies, ABI wishes to
provide in this Agreement for the indemnification of and advancing of expenses
to Indemnitee.

         NOW, THEREFORE, in consideration of the foregoing premises and
respective representations, warranties, covenants and agreements, and upon the
terms and subject to the conditions hereinafter set forth, and intending to be
legally bound hereby, the parties do hereby agree as follows:

         1. Certain Definitions:
            -------------------

            (a) Change of Control: shall be deemed to have occurred if (i)
                -----------------
                any "person" (as such term is used in Sections 13(d) and
                14(d) of the Securities and Exchange Act of 1934, as
                amended), other than a trustee or other fiduciary holding
                securities under an employee benefit plan of A-BC or a
                corporation owned directly or indirectly by the stockholders
                of A-BC in substantially the same proportions as their
                ownership of stock of A-BC, is or becomes the "beneficial
                owner" (as defined in Rule 13d-3 under said Act), directly
                or indirectly, of

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                securities of A-BC representing 20% or more of the total
                voting power represented by A-BC's then outstanding Voting
                Securities, or (ii) during any period of two consecutive
                years, individuals who at the beginning of such period
                constitute the Board of Directors of A-BC and any new
                director whose election by the Board of Directors or
                nomination for election by A-BC's stockholders was approved
                by a vote of at least two-thirds (2/3) of the directors then
                still in office who either were directors at the beginning
                of the period or whose election or nomination for election
                was previously so approved cease for any reason to
                constitute a majority thereof, or (iii) the stockholders of
                A-BC approve a merger or consolidation of A-BC with any
                other corporation, other than a merger or consolidation
                which would result in the Voting Securities of A-BC
                outstanding immediately prior thereto continuing to
                represent (either by remaining outstanding or by being
                converted into Voting Securities of the surviving entity) at
                least 80% of the total voting power represented by the
                Voting Securities of A-BC or such surviving entity
                outstanding immediately after such merger or consolidation,
                or the stockholders of A-BC approve a plan of complete
                liquidation of A-BC or an agreement for the sale or
                disposition by A-BC (in one transaction or a series of
                transactions) of all or substantially all of A-BC's assets.

            (b) Claim: any threatened, pending or completed action,
                -----
                suit or proceeding, or any inquiry, hearing or
                investigation, whether conducted by a Company or any
                other party, that Indemnitee in good faith believes
                might lead to the institution of any such action, suit
                or proceeding, whether civil, criminal, administrative,
                investigative or other.

            (c) Expenses: include attorneys' fees and all other costs,
                --------
                expenses and obligations paid or incurred in connection
                with investigating, defending, being a witness in or
                participating in (including on appeal) any Claim
                relating to any Indemnifiable Event, or preparing to
                defend, be a witness in or participate in any Claim
                relating to any Indemnifiable Event.

            (d) Indemnifiable Event: any event or occurrence related to
                -------------------
                the fact that Indemnitee is or was a director or member
                of other governing body of a Company, or by reason or
                anything done or not done by Indemnitee in such
                capacity.

            (e) Potential Change of Control: shall be deemed to have occurred
                ---------------------------
                if (i) A-BC enters into an agreement or arrangement, the
                consummation of which would result in the occurrence of a
                Change in Control; (ii) any person (including A-BC) publicly
                announces an intention to take or to consider taking actions
                which if consummated would constitute a

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                Change of Control; (iii) any person, other than a trustee or
                other fiduciary holding securities under an employee benefit
                plan of A-BC acting in such capacity or a corporation owned,
                directly or indirectly, by the stockholders of A-BC in
                substantially the same proportions as their ownership of
                stock of A-BC, who is or becomes the beneficial owner,
                directly or indirectly, of securities of A-BC representing
                10% or more of the combined voting power of A-BC's then
                outstanding Voting Securities, increases his beneficial
                ownership of such securities by 5% or more over the
                percentage so owned by such person on the date hereof; or
                (iv) the Board of Directors of ABI adopts a resolution to
                the effect that, for purposes of this Agreement, a Potential
                Change in Control has occurred.

            (f) Reviewing Party: any appropriate person or body
                ---------------
                consisting of the member or members of ABI's Board of
                Directors who are not parties to the particular Claim
                for which Indemnitee is seeking indemnification,
                independent legal counsel selected by such directors or
                the shareholders of ABI.

            (g) Voting Securities: any securities of A-BC which vote
                -----------------
                generally in the election of directors.

         2. Basic Indemnification Arrangement.
            ---------------------------------

            (a) In the event Indemnitee was, is or becomes a party to or
                witness or other participant in, or is threatened to be made
                a party to or witness or other participant in, a Claim by
                reason of (or arising in part out of) an Indemnifiable
                Event, ABI shall, subject to the limitations described in
                this Agreement, indemnify Indemnitee, as soon as practicable
                but in any event no later than 30 days after written demand
                is presented to ABI, against any and all Expenses,
                judgments, fines, penalties and amounts paid in settlement
                (including all interest, assessments and other charges paid
                or payable in connection with or in respect of such
                Expenses, judgments, fines, penalties or amounts paid in
                settlement) of such Claim and any federal, state, local or
                foreign taxes imposed on the Indemnitee as a result of the
                actual or deemed receipt of any payments under this
                Agreement (including the creation of the Trust).
                Notwithstanding anything in this Agreement to the contrary
                and except as provided in Section 5, prior to a Change in
                Control Indemnitee shall not be entitled to indemnification
                pursuant to this Agreement in connection with any Claim
                initiated by Indemnitee against ABI or any director or
                officer of ABI, or against A-BC or any director or officer
                of A-BC, unless ABI has joined in or consented to the
                initiation of such Claim. If so requested by Indemnitee, ABI
                shall advance (within two business days of such request) any
                and all Expenses to Indemnitee (an "Expense Advance").

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            (b) Notwithstanding the foregoing, (i) the obligations of
                ABI under Section 2(a) shall be subject to the condition
                that the Reviewing Party shall not have determined that
                Indemnitee would not be permitted to be indemnified under
                applicable law, (ii) the obligation of ABI to make an
                Expense Advance pursuant to Section 2(a) shall be subject to
                the condition that, if, when and to the extent that the
                Reviewing Party determines that the Indemnitee would not be
                permitted to be so indemnified under applicable law, ABI
                shall be entitled to be reimbursed by Indemnitee (who hereby
                agrees to reimburse ABI) for all such amounts theretofore
                paid; provided, however, that if Indemnitee has commenced
                legal proceedings in a court of competent jurisdiction to
                secure a determination that Indemnitee should be indemnified
                under applicable law, any determination made by the
                Reviewing Party that Indemnitee would not be permitted to be
                indemnified under applicable law shall not be binding and
                Indemnitee shall not be required to reimburse ABI for any
                Expense Advance until a final judicial determination is made
                with respect thereto (as to which all rights of appeal
                therefrom have been exhausted or lapsed) and (iii) ABI's
                indemnification obligations under this Agreement (except for
                any liability imposed by Section 5 hereof), shall be subject
                to such limitations, monetary or otherwise, as may be set
                forth from time to time by resolutions of the board of
                directors of ABI. Indemnitee's obligation to reimburse ABI
                for Expense Advances shall be unsecured and no interest
                shall be charged thereon. If there has not been a Change in
                Control, the Reviewing Party shall be selected by the Board
                of Directors of ABI and if there has been such a Change in
                Control (other than a Change in Control which has been
                approved by a majority of A-BC's Board of Directors who were
                directors immediately prior to such Change in Control), the
                Reviewing Party shall be the special, independent counsel
                referred to in Section 3 hereof. If there has been no
                determination by the Reviewing Party or if the Reviewing
                Party determines that Indemnitee substantively would not be
                permitted to be indemnified in whole or in part under
                applicable law, Indemnitee shall have the right to commence
                litigation in any court in the State of Missouri having
                subject matter jurisdiction thereof and in which venue is
                proper, seeking an initial determination by the court or
                challenging any such determination by the Reviewing Party or
                any aspect thereof, and ABI hereby consents to service of
                process and to appear in any such proceeding. Any
                determination by the Reviewing Party otherwise shall be
                conclusive and binding on ABI and Indemnitee.

         3. Change in Control. ABI agrees that if there is a Change in Control
            -----------------
of A-BC (other than a Change in Control which has been approved by a majority of
A-BC's Board of Directors who were directors immediately prior to such Change in
Control) then with respect to all matters thereafter arising concerning the
rights of Indemnitee to indemnity

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payments and Expense Advances under this Agreement or any other agreement or
under applicable law or ABI's Articles of Incorporation or Bylaws now or
hereafter in effect relating to Claims for Indemnifiable Events, ABI shall seek
legal advice only from special, independent counsel selected by Indemnitee and
approved by ABI (which approval shall not be unreasonably withheld), and who has
not otherwise performed services for ABI within the last 10 years (other than in
connection with such matters) or Indemnitee. Such independent counsel shall not
include any person who, under the applicable standards of professional conduct
then prevailing, would have a conflict of interest in representing either ABI or
Indemnitee in an action to determine Indemnitee's rights under this Agreement.
Such counsel, among other things, shall render its written opinion to ABI and
Indemnitee as to whether and to what extent the Indemnitee would be permitted to
be indemnified under applicable law. ABI agrees to pay the reasonable fees of
the special, independent counsel referred to above and to indemnify fully such
counsel against any and all expenses (including attorneys' fees), claims,
liabilities and damages arising out of or relating to this Agreement or the
engagement of special, independent counsel pursuant hereto.

         4. Establishment of Trust. In the event of a Potential Change in
            ----------------------
Control, ABI shall, upon written request by Indemnitee, create a Trust for the
benefit of the Indemnitee and from time to time upon written request of
Indemnitee shall fund such Trust in an amount sufficient to satisfy any and all
Expenses reasonably anticipated at the time of each such request to be incurred
in connection with investigating, preparing for and defending any Claim relating
to an Indemnifiable Event, and any and all judgments, fines, penalties and
settlement amounts of any and all Claims relating to an Indemnifiable Event from
time to time actually paid or claimed, reasonably anticipated or proposed to be
paid. The amount or amounts to be deposited in the Trust pursuant to the
foregoing funding obligation shall be determined by the Reviewing Party, in any
case in which the special, independent counsel referred to above is involved.
The terms of the Trust shall provide that upon a Change in Control (i) the Trust
shall not be revoked or the principal thereof invaded, without the written
request of the Indemnitee, (ii) the Trustee shall advance, within two business
days of a request by the Indemnitee, any and all Expenses to the Indemnitee (and
the Indemnitee hereby agrees to reimburse the Trust under the circumstances
under which the Indemnitee would be required to reimburse ABI under Section 2(b)
of this Agreement), (iii) the Trust shall continue to be funded by ABI in
accordance with the funding obligation set forth above, (iv) the Trustee shall
promptly pay the Indemnitee all amounts for which the Indemnitee shall be
entitled to indemnification pursuant to this Agreement or otherwise, and (v) all
unexpended funds in such Trust shall revert to ABI upon a final determination by
the Reviewing Party or a court of competent jurisdiction, as the case may be,
that the Indemnitee has been fully indemnified under the terms of this
Agreement. The Trustee shall be chosen by the Indemnitee. Nothing in this
Section 4 shall relieve ABI of any of its obligations under this Agreement. All
income earned on the assets held in the Trust shall be reported as income by ABI
for federal, state, local, and foreign tax purposes.

         5. Indemnification for Additional Expenses. ABI shall indemnify
            ---------------------------------------
Indemnitee against any and all expenses (including attorneys' fees) and, if
requested by Indemnitee,

                                       5

<PAGE>
<PAGE>

shall (within two business days of such request) advance such expenses to
Indemnitee, which are incurred by Indemnitee in connection with any claim
asserted against or action brought by Indemnitee for (i) indemnification or
advance payment of Expenses by ABI under this Agreement or any other agreement
or under the Bylaws or resolutions of ABI now or hereafter in effect relating to
Claims for Indemnifiable Events and/or (ii) recovery under any directors' and
officers' liability insurance policies maintained by ABI or A-BC, in each case
under (i) or (ii) regardless of whether Indemnitee ultimately is determined to
be entitled to such indemnification, advance Expense payment or insurance
recovery, as the case may be.

         6. Partial Indemnity, Etc.
            -----------------------

            (i)   If Indemnitee is entitled under any provision of this
         Agreement to indemnification by ABI for some or a portion of the
         Expenses, judgments, fines, penalties and amounts paid in settlement of
         a Claim but not, however, for all of the total amount thereof, ABI
         shall nevertheless indemnify Indemnitee for the portion thereof to
         which Indemnitee is entitled.

            (ii)  Notwithstanding any other provision of this Agreement, to
         the extent that Indemnitee has been successful on the merits or
         otherwise in defense of any or all Claims relating in whole or in part
         to an Indemnifiable Event or in defense of any issue or matter therein,
         including dismissal without prejudice, Indemnitee shall be indemnified
         against all Expenses incurred in connection therewith.

            (iii) In connection with any determination by the Reviewing
         Party or otherwise as to whether Indemnitee is entitled to be
         indemnified hereunder, the burden of proof shall be on ABI to establish
         that Indemnitee is not so entitled.

         7. No Presumption. For purposes of this Agreement, the termination of
            --------------
any claim, action, suit or proceeding, by judgment, order, settlement (whether
with or without court approval) or conviction, or upon a plea of nolo
contendere, or its equivalent, shall not create a presumption that Indemnitee
did not meet any particular standard of conduct or have any particular belief or
that a court has determined that indemnification is not permitted by applicable
law.

         8. Exclusivity, Etc. The rights of the Indemnitee described hereunder
            -----------------
and under ABI's Bylaws and resolutions shall be Indemnitee's exclusive rights
for indemnification for Indemnifiable Events, notwithstanding any additional
rights that might be provided otherwise, including pursuant to ABI's Articles of
Incorporation or the General and Business Corporation Law of Missouri.
Indemnitee hereby acknowledges the exclusivity of this Agreement, ABI's Bylaws
and resolutions waives any such additional rights and agrees that his right to
indemnification from ABI shall be limited as described by this Agreement, ABI's
Bylaws and resolutions.

         9. Liability Insurance. To the extent ABI or ABC maintains an insurance
            -------------------
policy or policies providing directors' and officers' liability insurance
applicable to Indemnitee,

                                       6

<PAGE>
<PAGE>

Indemnitee shall be covered by such policy or policies, in accordance with its
or their terms, to the maximum extent of the coverage available to Indemnitee.
Nothing in this section shall limit or prevent ABI's ability to make claims or
seek reimbursement under any such policy.

         10. Period of Limitations. ABI's right under this Agreement for
             ---------------------
reimbursement of any amounts paid by it hereunder shall expire unless ABI
provides notice to Indemnitee requesting such reimbursement within two years
after ABI has reasonable notice of its right to seek reimbursement.

         11. Amendments, Etc. No supplement, modification or amendment of this
             ----------------
Agreement shall be binding unless executed in writing by both of the parties
hereto. No waiver of any of the provisions of this Agreement shall be deemed or
shall constitute a waiver of any other provisions hereof (whether or not
similar) nor shall such waiver constitute a continuing waiver.

         12. Subrogation. In the event of payment under this Agreement, ABI
             -----------
shall be subrogated to the extent of such payment to all of the rights of
recovery of Indemnitee against any other party, including the Companies, and
Indemnitee shall execute all papers required and shall do everything that may be
necessary to secure such rights, including the execution of such documents
necessary to enable ABI effectively to bring suit to enforce such rights.

         13. No Duplication of Payments. ABI shall not be liable under this
             --------------------------
Agreement to make any payment in connection with any claim made against
Indemnitee to the extent Indemnitee has otherwise actually received payment
(under any insurance policy, from any Company or otherwise) of the amounts
otherwise indemnifiable hereunder.

         14. Binding Effect, Etc. This Agreement shall be binding upon and inure
             --------------------
to the benefit of and be enforceable by the parties hereto and their respective
successors and assigns, including any direct or indirect successor by purchase,
merger, consolidation or otherwise to all or substantially all of the business
and/or assets of ABI, spouses, heirs, and personal and legal representatives.
ABI shall require and cause any successor (whether direct or indirect by
purchase, merger, consolidation or otherwise) to all, substantially all, or a
substantial part, of the business and/or assets of ABI, by written agreement in
form and substance satisfactory to Indemnitee, expressly to assume and agree to
perform this Agreement in the same manner and to the same extent that ABI would
be required to perform if no such succession had taken place. This Agreement
shall continue in effect regardless of whether Indemnitee continues to serve as
a director or officer of ABI or of any Company.

         15. Severability. The provisions of this Agreement shall be severable
             ------------
in the event that any of the provisions hereof (including any provision within a
single section, paragraph or sentence) are held by a court of competent
jurisdiction to be invalid, void or otherwise unenforceable, and the remaining
provisions shall remain enforceable to the fullest extent permitted by law.
Furthermore, to the fullest extent possible, the provisions

                                       7

<PAGE>
<PAGE>

of this Agreement (including, without limitation, each portion of this Agreement
containing any provision held to be invalid, void or otherwise unenforceable,
that is not itself invalid, void or unenforceable) shall be construed so as to
give effect to the intent manifested by the provision held invalid, illegal or
unenforceable.

         16. Governing Law. This Agreement shall be governed by and construed
             -------------
and enforced in accordance with the laws of the State of Missouri applicable to
contracts made and to be performed in such State without giving effect to the
principles of conflicts of laws.

         17. Termination. At the option of ABI, ABI may terminate this Agreement
             -----------
and its obligations hereunder or may amend this Agreement by eliminating any
entity previously specified as a "Company", in each case by written notice to
the Indemnitee delivered to his address as recorded upon the records of ABI.
Upon receipt by Indemnitee of such notice, ABI's obligations shall be terminated
or amended as described in such notice; provided that such termination or
amendment shall not limit the rights of the Indemnitee or the obligations of ABI
with respect to any Indemnifiable Event occurring prior to such termination or
amendment.

         18. Rights Against A-BC. Indemnitee agrees and acknowledges that it
             -------------------
shall not be entitled to any right of indemnity against Anheuser-Busch
Companies, Inc. ("A-BC") with respect to any Indemnifiable Event arising after
the effective date hereof.

         19. Mutual Agreement to Arbitrate Claims. The Mutual Agreement to
             ------------------------------------
Arbitrate Claims between A-BC and the Indemnitee shall not apply to any claim or
controversy relating to the subject matter of this Agreement.

         20. Effective Date. The effective date of this Agreement shall be
             --------------
              and the obligations and rights of the parties hereto shall
-------------
commence as of              .
               -------------

         IN WITNESS WHEREOF, the parties hereto have duly executed and delivered
this Agreement as of              .
                     -------------

                                     ANHEUSER-BUSCH, INCORPORATED

                                     By:
                                        -----------------------------------
                                     Title:

                                     --------------------------------------
                                     [Indemnitee Name]

                                       8

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