Document:

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                                                                   Exhibit 10.70

[INLAND(R) LOGO]

INLAND REAL ESTATE ACQUISITIONS, INC.
2901 Butterfield Road
Oak Brook, IL 60523
Phone: (630) 218-4948 Fax: 4935
www.inlandgroup.com

                                January 8, 2004

Weber & Company (Seller)
c/o: Venture Commercial (Broker)
Attn: Michael Gelsler, Partner
8235 Douglas Ave., Suite 720
Dallas, TX 75225

Re:   HERITAGE TOWNE CROSSING
      EULESS, TX

Dear Michael:

     This letter represents this corporation's offer to purchase the Heritage
Towne Crossing Shopping Center with 73,480 net rentable square feet, situated on
approximately 7.6 acres of land, located at the Southeast corner of Glade and SH
121, Euless, TX. (See Exhibit A)

     The above property shall include all the land and buildings and common
facilities, as well as all personalty within the buildings and common areas,
supplies, landscaping equipment, and any other items presently used on the site
and belonging to owner, and all intangible rights relating to the property.

     This corporation or its nominee will consummate this transaction on the
following basis:

     1.   The total purchase price shall be $16,287,977.00 all cash, plus or
          minus prorations, WITH NO MORTGAGE CONTINGENCIES, to be paid at
          CLOSING 30 BUSINESS DAYS following acceptance of this agreement (see
          Paragraph 10). PURCHASER HAD PAID $250,000.00. NO EARNEST MONEY TO THE
          TITLE CO. ON EXECUTION HEREOF.

          Purchaser shall allocate the land, building and depreciable
          improvements prior to closing.

     2.   Seller represents and warrants (TO THE BEST OF THE SELLER'S
          KNOWLEDGE), that the above referenced property is leased to the
          tenants described on Exhibit B on triple net leases covering the
          building and all of the land, parking areas, reciprocal easements and
          REA/OEA agreements (if any), for the entire terms and option periods.
          Any concessions given to any tenants that extend beyond the closing
          day shall be settled at closing by Seller giving a full cash credit to
          Purchaser for any and all of those concessions.

     3.   Seller warrants and represents (TO THE BEST OF THE SELLER'S
          KNOWLEDGE), that the property is free of violations, and the interior
          and exterior structures are in a good state of repair, free of leaks,
          structural problems, and mold, and the property is in full compliance
          with Federal, State, City and County ordinances, environmental laws
          and concerns, and no one has a lease that exceeds the lease term
          stated in said leases, nor does anyone have an option or right of
          first refusal to purchase or extend, nor is there any contemplated
          condemnation of any part of the property, nor are there any current or
          contemplated assessments.

     4.   Seller warrants and represents (TO THE BEST OF THE SELLER'S
          KNOWLEDGE), that during the term of the leases the tenants and
          guarantors are responsible for and pay all operating expenses relating
          to the property on a prorata basis, including but not limited to, real
          estate taxes, REA/OEA agreements, utilities, insurance, all common
          area maintenance, parking lot and the building, etc.

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                                                                          PAGE 2

HERITAGE TOWNE CROSSING - EULESS, TX
JANUARY 8, 2004

          Prior to closing, Seller shall not enter into or extend any agreements
          without Purchaser's approval and any contract presently in existence
          not accepted by Purchaser shall be terminated by Seller. Any work
          presently in progress on the property shall be completed by Seller
          prior to closing.

     5.   Ten (10) days prior to closing Seller shall furnish Purchaser with
          estoppel letters acceptable to Purchaser from all tenants, guarantors,
          and parties to reciprocal and/or operating easement agreements, if
          applicable. SELLER SHALL FURNISH PURCHASER WITH SELLER'S ESTOPPEL IF
          UNABLE TO OBTAIN LETTER FROM SALON G.

     6.   Seller is responsible for payment of any LEASING BROKERAGE FEES or
          commissions which are due any leasing brokers for the existing leases
          stated above or for the renewal of same.

     7.   This offer is subject to Seller supplying to Purchaser prior to
          closing a certificate of Insurance from the tenants and guarantors in
          the form and coverage acceptable to Purchaser for the closing.

     8.   Seller shall supply to Purchaser 10 days prior to closing, and Seller
          shall pay for at closing, a certificate which must be acceptable to
          Purchaser from a certified hygienist for environmental concerns that
          there is no asbestos, PCBs, or hazardous substance in the buildings
          and on the property; in other words, a Level 1 environmental audit
          (and Level 2 audit, if required).

     9.   The above sale of the real estate shall be consummated by conveyance
          of a full warranty deed from Seller to Purchaser's designee, with the
          Seller paying any city, state, or county transfer taxes for the
          closing, and Seller agrees to cooperate with Purchaser's lender, if
          any, and the money lender's escrow.

     10.  The closing shall occur through Chicago Title & Trust Company, in
          Chicago, Illinois with Nancy Castro as Escrowee, 30 business days
          following acceptance of this agreement, at which time title to the
          above property shall be marketable; i.e., free and clear of all liens,
          encroachments and encumbrances, and a TLTA owner's title policy with
          complete extended coverage and required endorsements, waiving off all
          construction, including 3.1 zoning including parking and loading
          docks, and insuring all improvements as legally conforming uses and
          not as non-conforming or conditional uses, paid by Seller, shall be
          issued, with all warranties and representations being true now and at
          closing and surviving the closing, and each party shall be paid in
          cash their respective credits, including, but not limited to, security
          deposits, rent and expenses, with a proration of real estate taxes
          based (at Purchaser's option) on the greater of 110% of the most
          recent bill or latest assessment, or the estimated assessments for
          2003 and 2004 using the Assessor's formula for these sales
          transactions, with a later reproration of taxes when the actual bills
          are received. At closing, no credit will be given to Sellers for any
          past due, unpaid or delinquent rents.

     11.  It is understood that the Seller has in its possession an appraisal of
          the property prepared by an MAI or other qualified appraiser,
          acceptable to Purchaser or Purchaser's lender, if any, and shall
          deliver copies of such appraisal to Purchaser within 10 days of the
          acceptance of this offer and shall cause the appraiser to re-certify
          an appraised amount not less than the Purchase Price and re-issue said
          appraisal to, and in the name of, Purchaser or Purchaser's lender, all
          at Seller's cost.

     12.  Neither Seller (Landlord) or any tenant and guarantor shall be in
          default on any lease or agreement at closing, nor is there any
          threatened or pending litigation.

     13.  Seller warrants and represents that he has paid all unemployment taxes
          to date
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                                                                          PAGE 3

HERITAGE TOWNE CROSSING - EULESS, TX
JANUARY 8, 2004

     14.  Prior to closing, Seller shall furnish to Purchaser copies of all
          guarantees and warranties which Seller received from any and all
          contractors and sub-contractors pertaining to the property. This offer
          is subject to Purchaser's satisfaction that all guarantees and
          warranties survive the closing and are assignable and transferable to
          any titleholder now and in the future.

     15.  This offer is subject to the property being 100% occupied at the time
          of closing (EXCEPT FOR EARNOUTS) with all tenants occupying their
          space, open for business, and paying full rent, including CAM, tax and
          insurance current, as shown on Exhibit B attached. In the event the
          property is less than 100% occupied, than the Purchaser and Seller
          agree there shall be an INITIAL CLOSING. The Initial Closing will be
          based on the PURCHASE PRICE/EARNOUT FORMULA which shall be EQUAL TO
          the actual BASE MINIMUM RENT, LESS the amount, if any, by which the
          pass-through amount paid by any tenant is less than 100% of such
          tenant's proportionate share; i.e.; SLIPPAGE, DIVIDED BY 8.914815%,
          WHICH IS BASED ON BASE RENT ONLY. However, it is anticipated that the
          Initial Closing will be a purchase price of $14,583,977.00, which is
          derived by using the base minimum rent of $1,298,683.00 divided by
          8.90486%.

          The Seller shall have 24 MONTHS FOLLOWING THE INITIAL CLOSING to
          receive the balance of the potential Earnout at the EARNOUT CLOSING(S)
          provided they are successful in the leasing of the vacant space and
          each tenant shall nave accepted their space "as is" and takes total
          possession, has opened for business and commences full rental
          payments, including CAM, taxes and insurance on a prorata basis. It
          shall be Seller's responsibility and sole cost and expense for leasing
          out and paying all costs related to placing the tenants into their
          leasable space. Each Earnout Closing shall occur upon 10 business days
          prior written notice to Purchaser: it being expressly understood that
          the Sellers shall waive their right to the additional Earnout if the
          final Seller's notice has not been sent within 24 months after the
          Initial Closing date. SELLER SHALL BE PAID $100 PER SQUARE FOOT FOR
          ANY REMAINING VACANT SPACE AT THE END OF 24 MONTHS MINUS $15.00 PER
          SQUARE FOOT FOR TENANT IMPROVEMENTS AND $3.00 PER SQUARE FOOT FOR
          LEASING COMMISSIONS.

          It is estimated that the Earnout Closing for the earnout space will be
          equal to the base minimum rent of $153,360.00 (less Slippage, if any)
          divided by a Base Rent divider of 9.0% which equals the Earnout Price
          of $1,704,000.00

          Seller shall be responsible on a monthly basis for all CAM, tax and
          insurance on a prorata basis for the space that is part of the Earnout
          formula until such time as the Seller perfects the Income for said
          space, but in no event, following 24 months following the closing.

          At the Initial Closing, Seller shall place in Purchaser's escrow, cash
          in an amount equal to $15.00 per square foot for tenant improvements
          and $3.00 per square foot for leasing commissions, times the remaining
          vacant Earnout square feet of the property. This escrow may be used by
          the Seller on a prorate basis as they continue to lease. However, with
          regards to any vacant space never leased, the balance of the tenant
          improvements and leasing commissions shall remain with Purchaser.

          Not withstanding anything to the contrary, all Earnout Closings must
          comply with all of the terms, requirements and conditions contained in
          this entire agreement, BUT PURCHASER SHALL NOT UNREASONABLY DISAPPROVE
          ANY LEASE SUBMITTED BY SELLER. PURCHASER AGREES TO ACCEPT PENDING
          LEASES FOR THE 1,700 S.F. (i)DA LAVA, INC EXPANSION AND (ii) THE
          1,460 S.F. ROLY POLY CURRENTLY BEING NEGOTIATED BY SELLER.

          Not withstanding anything to the contrary, the purchase price of
          $16,287,977.00 is the maximum purchase price.
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                                                                          PAGE 4

HERITAGE TOWNE CROSSING - EULESS, TX
JANUARY 8, 2004

     16.  Seller shall be responsible for payment of a real estate brokerage
          commission, as per their agreement to the Venture Commercial, said
          commission shall be paid through the closing.

     17.  Fifteen (15) days prior to closing, Seller must provide the title as
          stated above and a current Urban ALTA/ACSM spotted survey in
          accordance with the minimum standard detail requirements for ALTA/ACSM
          Land Title surveys jointly established and adopted by ALTA and ACSM in
          1999 and includes all Table A optional survey responsibilities and
          acceptable to Purchaser and the title company.

     18.  Seller agrees to immediately make available and disclose all
          information that Purchaser needs to evaluate the above property,
          including all inducements, abatements, concessions or cash payments
          given to tenants, and for CAM, copies of the bills. Seller agrees to
          cooperate fully with Purchaser and Purchaser's representatives to
          facilitate Purchaser's evaluations and reports, including at least a
          one-year audit of the books and records of the property.

     This offer is, of course, predicated upon the Purchaser's review and
written approval of the existing leases, new leases, lease modifications (if
any), all tenant correspondence, REA/OEA agreements, tenants' and guarantors'
financial statements, sales figures, representations of income and expenses made
by Seller, site inspection, environmental, appraisal, etc., and at least one
year of audited operating statements on said property is required that qualify,
comply with and can be used in a public offering.

     If this offer is acceptable, please have the Seller SIGN the original of
this letter and initial each page, keeping copies for your files and returning
the original to me by JANUARY 12, 2004.

                                           Sincerely,

ACCEPTED: HERITAGE TOWNE CROSSING, L.P.    INLAND REAL ESTATE ACQUISITIONS, INC.
BY: MTC DEVELOPMENT, INC. ITS              or nominee
GENERAL PARTNER
By:    /s/ John P. Weber
       -------------------------------
       JOHN P. WEBER
Date:  PRESIDENT
     ---------------------------------     /s/ Matt Tice
                                           -----------------------------------
                                           Matt Tice

                                           /s/ Joseph Cosenza
                                           -----------------------------------
                                           G. Joseph Cosenza
                                           Vice Chairman

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                                  "EXHIBIT A"

                                  [SITE PLAN]

<Page>

                                   Exhibit B

                               [ILLEGIBLE TABLE]

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Exhibit 10.1  

 

ADOLPH COORS COMPANY

EQUITY INCENTIVE PLAN  

Amended and restated,

effective August 14, 2003  

As Corrected and Conformed 

June 30,
2004 

 

 
TABLE OF CONTENTS  

	Section 1—Introduction	 	1
	 	1.1	 	Establishment and Amendment	 	1
	 	1.2	 	Purposes	 	1
	 	1.3	 	Effective Date	 	1
	

Section 2—Definitions	
 	

1
	 	2.1	 	Definitions	 	1
	 	2.2	 	Gender and Number	 	2
	

Section 3—Plan Administration	
 	

2
	 	3.1	 	General	 	2
	 	3.2	 	Delegation by Committee	 	3
	 	3.3	 	Claims.	 	3
	

Section 4—Stock Subject to the Plan	
 	

3
	 	4.1	 	Number of Shares	 	3
	 	4.2	 	Other Shares of Stock	 	4
	 	4.3	 	Adjustments for Stock Split, Dividend, Etc	 	4
	 	4.4	 	Other Distributions and Changes in the Stock	 	4
	 	4.5	 	General Adjustment Rules	 	4
	 	4.6	 	Determination by the Committee, Etc	 	5
	

Section 5—[Reserved]	
 	

5
	

Section 6—Participation	
 	

5
	 	6.1	 	In General	 	5
	 	6.2	 	Restriction on Award Grants to Certain Individuals	 	5
	 	6.3	 	General Restrictions on Awards	 	5
	

Section 7—Stock Options	
 	

5
	 	7.1	 	Grant of Stock Options	 	5
	 	7.2	 	Stock Option Certificates	 	5
	 	7.3	 	Shareholder Privileges	 	9
	

Section 8—Restricted Stock Awards	
 	

9
	 	8.1	 	Grant of Restricted Stock Awards	 	9
	 	8.2	 	Restrictions	 	9
	 	8.3	 	Privileges of a Stockholder, Transferability	 	10
	 	8.4	 	Enforcement of Restrictions	 	10
	

Section 9—Purchase of Stock	
 	

10
	 	9.1	 	General	 	10
	 	9.2	 	Other Terms	 	10
	

Section 10—Other Common Stock Grants	
 	

10
	

Section 11—Company Right To Purchase Stock	
 	

10
	 	11.1	 	Right of First Refusal	 	10
	 	11.2	 	Marking of Certificates	 	11
	

Section 12—Change of Control	
 	

11
	 	12.1	 	In General	 	11
	 	12.2	 	Limitation on Payments	 	12
	 	12.3	 	Definitions	 	12
	 	 	 	 	 	 

i

 

	

Section 13—Rights of Employees; Participants	
 	

13
	 	13.1	 	Employment	 	13
	 	13.2	 	Nontransferability	 	13
	

Section 14—General Restrictions	
 	

14
	 	14.1	 	Investment Representations	 	14
	 	14.2	 	Compliance with Securities Laws	 	14
	 	14.3	 	Changes in Accounting Rules	 	14
	

Section 15—Other Employee Benefits	
 	

14
	

Section 16—Plan Amendment, Modification and Termination	
 	

14
	

Section 17—Withholding	
 	

15
	 	17.1	 	Withholding Requirement	 	15
	 	17.2	 	Withholding With Stock	 	15
	

Section 18—Requirements of Law	
 	

15
	 	18.1	 	Requirements of Law	 	15
	 	18.2	 	Federal Securities Law Requirements	 	15
	 	18.3	 	Governing Law	 	15
	

Section 19—Duration of the Plan	
 	

15

ii

 
 

ADOLPH COORS COMPANY
  EQUITY INCENTIVE PLAN    
    

Amended and restated,

effective August 14, 2003

As
Corrected and Conformed June 30, 2004 

Section 1
  Introduction

        1.1    Establishment and Amendment.    Adolph Coors Company, a Delaware corporation (hereinafter referred to, together
with its Affiliated Corporations (as defined in subsection 2.1(a)) as the "Company" except where the context otherwise requires), has established the Adolph Coors Company Equity Incentive Plan (the
"Plan") for certain employees of the Company. The Plan, which permits the grant of stock options and restricted stock awards to certain employees of the Company, was originally effective
January 1, 1990. Pursuant to the power granted in Section 16, the Company hereby amends and restates the Plan in its entirety. 

        1.2    Purposes.    The purposes of the Plan are to provide the employees selected for participation in the Plan with
added incentives to continue in the service of the Company and to create in such employees a more direct interest in the future success of the operations of the Company by relating incentive
compensation to the achievement of long-term corporate economic objectives, so that the income of such employees is more closely aligned with the income of the Company's shareholders. The
Plan is also designed to attract employees and to retain and motivate participating employees by providing an opportunity for investment in the Company. 

        1.3    Effective Date.    The original effective date of the Plan (the "Effective Date") was January 1, 1990.
The Plan, as hereby amended and restated in its entirety, is effective August 14, 2003, and Corrected and Conformed June 30, 2004. The Plan, as amended and restated, and each option or
other award granted hereunder is conditioned on and shall be of no force or effect until approval of the Plan by the holders of the shares of voting stock of the Company unless the Company, on the
advice of counsel, determines that shareholder approval is not necessary. 

Section 2
  Definitions

        2.1    Definitions.    The following terms shall have the meanings set forth below: 

        (a)   "Affiliated Corporation" means any corporation or other entity (including but not limited to a partnership) which is
affiliated with Adolph Coors Company through stock ownership or otherwise and is designated as an "Affiliated Corporation" by the Board. 

        (b)   "Award" means an Option or a Restricted Stock Award issued hereunder, an offer to purchase Stock made hereunder, or a
grant of Stock made hereunder. 

        (c)   "Board" means the Board of Directors of the Company. 

        (d)   "Committee" means a committee consisting of members of the Board who are empowered hereunder to take actions in the
administration of the Plan. Members of the Committee shall be appointed from time to time by the Board, shall serve at the pleasure of the Board and may resign at any time upon written notice to the
Board. 

        (e)   "Effective Date" means the original effective date of the Plan, January 1, 1990. 

        (f)    "Eligible Employees" means those employees (including, without limitation, officers and members of the Board who are also
employees) of the Company or any division thereof, upon whose judgment, initiative and efforts the Company is, or will become, largely dependent for the 

 

successful
conduct of its business. For purposes of the Plan, an employee is any individual who provides services to the Company or any subsidiary or division thereof as a common law employee and
whose remuneration is subject to the withholding of federal income tax pursuant to Section 3401 of the Code. Employee shall not include any individual (i) who provides services to the
Company or any subsidiary or division thereof under an agreement, contract, or any other arrangement pursuant to which the individual is initially classified as an independent contractor or
(ii) whose remuneration for services has not been treated initially as subject to the withholding of federal income tax pursuant to section 3401 of the Code even if the individual is
subsequently reclassified as a common law employee as a result of a final decree of a court of competent jurisdiction or the settlement of an administrative or judicial proceeding. Leased employees
shall not be treated as employees under this Plan. 

        (g)   "Fair Market Value" means the average of the high and low sales prices for a share of Stock on the New York Stock
Exchange on a particular date. If there are no Stock transactions on such date, the Fair Market Value shall be determined as of the immediately preceding date on which there were Stock transactions.
In the event that the method for determining the Fair Market Value of a share of Stock provided for above shall not be practicable, then such Fair Market Value shall be determined by such other
reasonable valuation method as the Committee shall, in its discretion, select and apply in good faith as of the given date. If, upon exercise of an Option, the exercise price is paid by a broker's
transaction as provided in section 7.2(g)(ii)(D), Fair Market Value, for purposes of the exercise, shall be the price at which the Stock is sold by the broker. 

        (h)   "Internal Revenue Code" means the Internal Revenue Code of 1986, as it may be amended from time to time. 

        (i)    "Option" means a right to purchase Stock at a stated price for a specified period of time. All Options granted under the
Plan shall be "non-qualified stock options" whose grant is not intended to fall under the provisions of Section 422A of the Internal Revenue Code. 

        (j)    "Option Price" means the price at which shares of Stock subject to an Option may be purchased, determined in accordance
with subsection 7.2(b). 

        (k)   "Participant" means an Eligible Employee designated by the Committee from time to time during the term of the Plan to
receive one or more of the Awards provided under the plan. 

        (l)    "Restricted Stock Award," means an award of Stock granted to a Participant pursuant to Section 8 that is subject
to certain restrictions imposed in accordance with the provisions of such Section. 

        (m)  "Stock" means the $.01 par value (non-voting) Class B Common Stock of the Company. 

        (n)   "Voting Stock," means the $.01 par value (voting) Class A Common Stock of the Company. 

        2.2    Gender and Number.    Except when otherwise indicated by the context, the masculine gender shall also include
the feminine gender, and the definition of any term herein in the singular shall also include the plural. 

Section 3
  Plan Administration

        3.1    General.    The Plan shall be administered by the Committee. In accordance with the provisions of the Plan, the
Committee shall, in its sole discretion, select the Participants from among the Eligible Employees, determine the Options, Restricted Stock Awards and other Awards to be granted pursuant to the Plan,
the number of shares of Stock to be issued thereunder and the time at 

2

 

which
such Options and Restricted Stock Awards are to be granted, fix the Option Price, period and manner in which an Option becomes exercisable, establish the duration and nature of Restricted Stock
Award restrictions, establish the terms and conditions on which an offer to purchase Stock will be made, and establish such other terms and requirements of the various compensation incentives under
the Plan as the Committee may deem necessary or desirable and consistent with the terms of the Plan. The Committee shall determine the form or forms of the agreements with Participants which shall
evidence the particular provisions, terms, conditions, rights and duties of the Company and the Participants with respect to Awards granted pursuant to the Plan, which provisions need not be identical
except as may be provided herein and may provide for the use of electronic, internet or other non-paper Award grants and acceptances by Participants. The Committee may from time to time
adopt such rules and regulations for carrying out the purposes of the Plan as it may deem proper and in the best interests of the Company. The Committee may correct any defect, supply any omission or
reconcile any inconsistency in the Plan or in any agreement entered into hereunder in the manner and to the extent it shall deem expedient and it shall be the sole and final judge of such expediency.
No member of the Committee shall be liable for any action or determination made in good faith. The determinations, interpretations and other actions of the Committee pursuant to the provisions of the
Plan shall be binding and conclusive for all purposes and on all persons. 

        3.2    Delegation by Committee.    The Committee may, from time to time, delegate, to specified officers of the
Company, the power and authority to grant Awards under the Plan to specified groups of employees, subject to such restrictions and conditions as the Committee, in its sole discretion, may impose. The
delegation shall be as broad or as narrow as the Committee shall determine. To the extent that the Committee has delegated the authority to determine certain terms and conditions of an Award, all
references in the Plan to the Committee's exercise of authority in determining such terms and conditions shall be construed to include the officer or officers to whom the Committee has delegated the
power and authority to make such determination. The power and authority to grant Awards to any employee who is covered by Section 16(b) of the Securities Exchange Act of 1934 (the "1934 Act")
shall not be delegated by the Committee. 

        3.3    Claims.    

        (a)   A
Participant who wishes to appeal any determination of the Committee concerning an Award granted pursuant to the Plan shall notify the Committee in a writing, which
shall state the basis for the appeal. The appeal shall be filed with the Committee within 30 days after the date the Participant received the notice from the Committee. The written appeal may
be filed by the Participant's authorized representative. The Committee shall review the appeal and issue its decision within 90 days after it receives the Participant's appeal. If the Committee
needs additional time to review the appeal, it shall notify the Participant in writing and specify when it expects to render its decision. After completion of its review, the Committee shall notify
the Participant of its decision in writing, which shall state the reasons for the Committee's decision. 

        (b)   If,
after the completion of the procedure set forth in the preceding paragraph, the Participant wishes to further pursue the appeal, the appeal shall be submitted to,
and determined through, binding arbitration in Denver, Colorado in accordance with the arbitration procedures of the American Arbitration Association ("AAA") existing at the time the arbitration is
conducted, before a single arbitrator chosen in accordance with AAA procedures. The decision of the arbitrator shall be enforceable as a court judgment. 

Section 4
  Stock Subject to the Plan

        4.1    Number of Shares.    Thirteen Million (13,000,000) shares of Stock are authorized for issuance under the Plan
in accordance with the provisions of the Plan and subject to such restrictions or other 

3

 

provisions
as the Committee may from time to time deem necessary. This authorization may be increased from time to time by approval of the Board and by the shareholders of the Company if, in the
opinion of counsel for the Company, such shareholder approval is required. Shares of Stock that may be issued upon exercise of Options, that are issued as Restricted Stock Awards, that are purchased
under the Plan, and that are used as incentive compensation under the Plan shall be applied to reduce the maximum number of shares of Stock remaining available for use under the Plan. The Company
shall at all times during the term of the Plan and while any Options are outstanding retain as authorized and unissued Stock at least the number of shares from time to time required under the
provisions of the Plan, or otherwise assure itself of its ability to perform its obligations hereunder. 

        4.2    Other Shares of Stock.    Any shares of Stock that are subject to an Option that expires or for any reason is
terminated unexercised, any shares of Stock that are subject to an Award (other than an Option) and that are forfeited, any shares of Stock withheld for the payment of taxes or received by the Company
as payment of the exercise price of an Option and any shares that for any reason are not issued to an Eligible Employee or are forfeited shall automatically become available for use under the Plan.
However, any shares of Stock that are subject to an Award (other than an Option) and that are forfeited and any shares of Stock that are withheld for the payment of taxes or received by the Company as
payment of the exercise price of an Option shall be available for use under the Plan. 

        4.3    Adjustments for Stock Split, Dividend, Etc.    If the Company shall at any time increase or decrease the number
of its outstanding shares of Stock or change in any way the rights and privileges of such shares by means of the payment of a stock dividend or any other distribution upon such shares payable in
Stock, or through a stock split, subdivision, consolidation, combination, reclassification or recapitalization involving the Stock, then in relation to the Stock that is affected by one or more of the
above events, the numbers, rights and privileges of the following shall be increased, decreased or changed in like manner as if they had been issued and outstanding, fully paid and nonassessable at
the time of such occurrence: (i) the shares of Stock as to which Awards may be granted under the Plan; (ii) the shares of the Stock then included in each outstanding Award granted
hereunder; and (iii) the maximum number of Shares available for grant to any one person pursuant to Section 6.3 of the Plan. 

        4.4    Other Distributions and Changes in the Stock.    If 

        (a)   the
Company shall at any time distribute with respect to the Stock assets or securities of persons other than the Company (excluding cash or distributions referred to in
Section 4.3), 

        (b)   the
Company shall at any time grant to the holders of its Stock rights to subscribe pro rata for additional shares
thereof or for any other securities of the Company, or 

        (c)   there
shall be any other change (except as described in Section 4.3), in the number or kind of outstanding shares of Stock or of any stock, or other securities
into which the Stock shall be changed or for which it shall have been exchanged, 

and
if the Committee shall in its discretion determine that the event described in subsection (a), (b), or (c) above equitably requires an adjustment in the number or kind of shares subject to
an Option or other Award, an adjustment in the Option Price or the taking of any other action by the Committee, including without limitation, the setting aside of any property for delivery to the
Participant upon the exercise of an Option or the full vesting of an Award, then such adjustments shall be made, or other actions shall be taken, by the Committee and shall be effective for all
purposes of the Plan and on each outstanding Option or Award that involves the particular type of stock for which a change was effected. Notwithstanding the foregoing provisions of this
Section 4.4, pursuant to Section 8.3 below, a Participant holding Stock received as a Restricted Stock Award shall have the right to receive all amounts, including cash and property of
any kind, distributed with respect to the Stock upon the Participant's becoming a holder of record of the Stock. 

4

 

        4.5    General Adjustment Rules.    No adjustment or substitution provided for in this Section 4 shall require
the Company to sell a fractional share of Stock under any Option, or otherwise issue a fractional share of Stock, and the total substitution or adjustment with respect to each Option and other Award
shall be limited by deleting any fractional share. In the case of any such substitution or adjustment, the total Option Price for the shares of Stock then subject to the Option shall remain unchanged
but the Option Price per share under each such Option shall be equitably adjusted by the Committee to reflect the greater or lesser number of shares of Stock or other securities into which the Stock
subject to the Option may have been changed, and appropriate adjustments shall be made to Restricted Stock Awards to reflect any such substitution or adjustment. 

        4.6    Determination by the Committee, Etc.    Adjustments under this Section 4 shall be made by the Committee,
whose determinations with regard thereto shall be final and binding upon all parties thereto. 

Section 5

[Reserved]  

Section 6
  Participation

        6.1    In General.    Participants in the Plan shall be those Eligible Employees who, in the judgment of the
Committee, are performing, or during the term of their incentive arrangement will perform, vital services in the management, operation and development of the Company or an Affiliated Corporation, and
significantly contribute, or are expected to significantly contribute, to the achievement of long-term corporate economic objectives. Participants may be granted from time to time one or
more Awards; provided, however, that the grant of each such Award shall be separately approved by the Committee, and receipt of one such Award shall not result in automatic receipt of any other Award.
Upon determination by the Committee that an Award is to be granted to a Participant, written notice shall be given to such person, specifying the terms, conditions, rights and duties related thereto.
Each Participant shall, if required by the Committee, enter into an agreement with the Company, in such form as the Committee shall determine and that is consistent with the provisions of the Plan,
specifying such terms, conditions, rights and duties. Notice of the grant of an Award to a Participant, the terms and conditions with respect to such Award, and the acceptance of the Award by the
Participant may be accomplished through such electronic, internet or such other non-paper means as may be specified from time to time by the Committee for this purpose. Awards shall be
deemed to be granted as of the date specified in the grant resolution of the Committee, which date shall be the date of any related agreement with the Participant. In the event of any inconsistency
between the provisions of the Plan and any such agreement entered into hereunder, the provisions of the Plan shall govern. 

        6.2    Restriction on Award Grants to Certain Individuals.    Notwithstanding the foregoing provisions of
Section 6.1, no Awards shall be granted to any lineal descendant of Adolph Coors, Jr. without the prior written approval of counsel to the Company as to the effect of any such grant on the
possible status of the Company as a "personal holding company" within the meaning of Section 542 of the Internal Revenue Code. 

        6.3    General Restrictions on Awards.    Awards covering no more than 500,000 shares of Stock may be granted to any
Participant under this Plan during any calendar year. 

5

 

Section 7
  Stock Options

        7.1    Grant of Stock Options.    Coincident with or following designation for participation in the Plan, a
Participant may be granted one or more Options. In no event shall the exercise of one Option affect the right to exercise any other Option or affect the number of shares of Stock for which any other
Option may be exercised, except as provided in subsection 7.2(j). 

        7.2    Stock Option Certificates.    Each Option granted under the Plan shall be evidenced by a written stock option
certificate or agreement. A stock option certificate or agreement shall be issued by the Company in the name of the Participant to whom the Option is granted (the "Option Holder") and shall
incorporate and conform to the conditions set forth in this Section 7.2, as well as such other terms and conditions, not inconsistent herewith, as the Committee may consider appropriate in each
case.. The grant of options may be reflected through the use of electronic, internet or such other non-paper means of communication as may be approved from time to time for this purpose by
the Committee and the terms and conditions of such Options, as well as the acceptance of such terms and conditions by the Option Holders, may be accomplished through the use of electronic
transmissions and signatures, as may be specified from time to time by the Committee. References herein to the use of a stock option agreement or a stock option certificate shall include any such
electronic documentation as may be established and approved for this purpose from time to time by the Committee. 

        (a)   Number of Shares. Each stock option certificate or agreement shall state that it covers a specified number of shares of
the Stock, as determined by the Committee. 

        (b)   Price. The price at which each share of Stock covered by an Option may be purchased shall be determined in each case by
the Committee and set forth in the stock option certificate or agreement. 

        (c)   Duration of Options; Restrictions on Exercise. Each stock option certificate or agreement shall state the period of time,
determined by the Committee, within which the Option may be exercised by the Option Holder (the "Option Period"), and shall also set forth any installment or other restrictions on Option exercise
during such period, if any, as may be determined by the Committee. 

        (d)   Termination of Employment, Death, Disability, Etc. The Committee may specify and cause to be reflected in the Option
certificate or agreement the period, if any, during which an Option may be exercised following termination of the Option Holder's services. The effect of this subsection 7.2(d) shall be limited to
determining the consequences of a termination and nothing in this subsection 7.2(d) shall restrict or otherwise interfere with the Company's discretion with respect to the termination of any
individual's services. If the Committee does not otherwise specify, the following shall apply: 

        (i)    If
the employment of the Option Holder is terminated within the Option Period for cause, as determined by the Company, the Option shall thereafter be void for all
purposes. As used in this subsection 7.2(d)(i), "cause" shall mean a gross violation, as determined by the Company, of the Company's established policies and procedures. 

        (ii)   If
the Option Holder retires from employment by the Company or its affiliates during the Option Period pursuant to the Company's retirement policy, or if the Option
Holder becomes disabled (as determined pursuant to the Company's Long-Term Disability Plan), the Option may be exercised by the Option Holder, or in the case of death by the persons
specified in subsection (iii) of this subsection 7.2(d), within thirty-six months following his or her retirement or disability (provided that such exercise must occur within the
Option Period), but not thereafter. In any such case, the Option may be exercised only as to the 

6

 

shares
as to which the Option had become exercisable on or before the date of the Option Holder's termination of employment. 

        (iii)  If
the Option Holder dies during the Option Period while still employed or within the period referred to in (iv) below, or within the
thirty-six-month period referred to in (ii) above, the Option may be exercised by those entitled to do so under the Option Holder's will or by the laws of descent and
distribution within fifteen months following the Option Holder's death, (provided that such exercise must occur within the Option Period), but not thereafter. In any such case, the Option may be
exercised only as to the shares as to which the Option had become exercisable on or before the date of the Option Holder's death. 

        (iv)  If
the employment of the Option Holder by the Company is terminated (which for this purpose means that the Option Holder is no longer employed by the Company or by an
Affiliated Corporation) within the Option Period for any reason other than cause, retirement pursuant to the Company's retirement policy, disability or the Option Holder's death, the Option may be
exercised by the Option Holder (A) in the case of an Option granted on or after January 1, 2000, within one year following the date of such termination (provided that such exercise must
occur within the Option Period), but not thereafter, and (B) in the case of an Option granted prior to January 1, 2000, within three months following the date of such termination
(provided that such exercise must occur within the Option Period), but not thereafter. In any such case, the Option may be exercised only as to the shares as to which the Option had become exercisable
on or before the date of termination of employment. 

        (e)   Transferability. 

        (i)    Except
as specifically provided in subsection 7.2(e)(ii) below, an Option shall not be transferable by the Option Holder except by will or pursuant to the laws of
descent and distribution. An Option shall be exercisable during the Option Holder's lifetime only by him or her, or in the event of Disability or incapacity, by his or her guardian or legal
representative. The Option Holder's guardian or legal representative shall have all of the rights of the Option Holder under this Plan. 

        (ii)   The
Committee may, however, provide at the time of grant or thereafter that the Option Holder may transfer an Option to a member of the Option Holder's immediate
family, a trust of which members of the Option Holder's immediate family are the only beneficiaries, or a partnership of which members of the Option Holder's immediate family or trusts for the sole
benefit of the Option Holder's immediate family are the only partners (the "InterVivos Transferee"). Immediate family means the Option Holder's spouse, issue (by birth or adoption), parents,
grandparents, siblings (including half brothers and sisters and adopted siblings) and nieces and nephews. No transfer shall be effective unless the Option Holder shall have notified the Company of the
transfer in writing and has furnished a copy of the documents that effect the transfer to the Company. The InterVivos Transferee shall be subject to all of the terms of this Plan and the Option,
including, but not limited to, the vesting schedule, termination provisions, and the manner in which the Option may be exercised. The Committee may require the Option Holder and the InterVivos
Transferee to enter into an appropriate agreement with the Company providing for, among other things, the satisfaction of required tax withholding with respect to the exercise of the transferred
Option and the satisfaction of any Stock retention requirements applicable to the Option Holder, together with such terms and conditions as may be specified by the Committee. Except to the extent
provided otherwise in such agreement, the InterVivos Transferee shall have all of the rights and obligations of the Option Holder under this Plan. 

        (f)    [Reserved]

7

 

        (g)   Exercise, Payments, Etc. 

        (i)    Each
stock option certificate or agreement shall provide that the method for exercising the Option granted therein shall be by delivery to the Corporate Secretary of the
Company of written notice specifying the number of shares with respect to which such Option is exercised and payment of the Option Price. Each stock option certificate or agreement shall provide that
the method for exercising the Option granted therein shall be by delivery to the Corporate Secretary of the Company of written (or other method approved by the Committee) notice specifying the number
of shares with respect to which such Option is exercised and payment of the Option Price. For purposes of notification of exercise of an Option, the Option Holder may use such means of electronic
communication as may be approved from time to time by the Committee, which may include notice of exercise through the use of electronic, internet or other computer communications. Such notice shall be
in a form satisfactory to the Committee and shall specify the particular Option (or portion thereof) which is being exercised and the number of shares with respect to which the Option is being
exercised. The exercise of the Stock Option shall be deemed effective upon receipt of such notice by the Corporate Secretary and payment to the Company. If requested by the Company, such notice shall
contain the Option Holder's representation that he or she is purchasing the Stock for investment purposes only and his or her agreement not to sell any Stock so purchased in any manner that is in
violation of the Securities Act of 1933, as amended, or any applicable state law. Such restrictions, or notice thereof, shall be placed on the certificates representing the Stock so purchased. The
purchase of such Stock shall take place at the principal offices of the Company upon delivery of such notice, at which time the purchase price of the Stock shall be paid in full by any of the methods
or any combination of the methods set forth in (ii) below. A properly executed certificate or certificates representing the Stock shall be issued by the
Company and delivered to the Option Holder. If certificates representing Stock are used to pay all or part of the exercise price, separate certificates for the same number of shares of Stock shall be
issued by the Company and delivered to the Option Holder representing each certificate used to pay the Option Price, and an additional certificate shall be issued by the Company and delivered to the
Option Holder representing the additional shares, in excess of the Option Price, to which the Option Holder is entitled as a result of the exercise of the Option (the "Additional Shares").
Notwithstanding the foregoing, if a Participant has validly elected, in accordance with the provisions of the Adolph Coors Company Deferred Compensation Plan, or any successor plan, to defer the
receipt of such Additional Shares, then such Additional Shares shall be issued and delivered to the trustee of the trust formed pursuant to the provisions of such Deferred Compensation Plan, or
otherwise deferred in accordance with the provisions of such Deferred Compensation Plan, and the rights of the Participant with respect to such Additional Shares shall be determined in accordance with
the provisions of the Deferred Compensation Plan. 

        (ii)   The
exercise price shall be paid by any of the following methods or any combination of the following methods: 

        (A)  in
cash; 

        (B)  by
certified or cashier's check payable to the order of the Company; 

        (C)  by
delivery to the Company of certificates representing the number of shares then owned by the Option Holder, the Fair Market Value of which equals the purchase price of
the Stock purchased pursuant to the Option, properly endorsed for transfer to the Company; provided however, that no Option may be exercised by delivery to the Company of certificates representing
Stock, unless such Stock has been held by the Option Holder for more than six months; for purposes of this Plan, the Fair Market 

8

 

Value
of any shares of Stock delivered in payment of the purchase price upon exercise of the Option shall be the Fair Market Value as of the exercise date; the exercise date shall be the day of
delivery of the certificates for the Stock used as payment of the Option Price; or 

        (D)  by
delivery to the Company of a properly executed notice of exercise together with irrevocable instructions to a broker to deliver to the Company promptly the amount of
the proceeds of the sale of all or a portion of the Stock or of a loan from the broker to the Option Holder necessary to pay the exercise price. 

        (h)   Date of Grant. An option shall be considered as having been granted on the date specified in the grant resolution of the
Committee. 

        (i)    Tax Withholding. Each stock option certificate or agreement shall provide that, upon exercise of the Option, the Option
Holder shall make appropriate arrangements with the Company to provide for the amount of additional withholding required by Sections 3102 and 3402 of the Internal Revenue Code and applicable state
income tax laws, including payment of such taxes through delivery of shares of Stock, or by one of the methods provided in Section 17, as may be permitted by the Committee in its sole
discretion provided, however, that any such payment of withholding taxes must satisfy the Company's insider trading policies requirements of applicable law, including but not limited to the provisions
of the Sarbanes-Oxley Act of 2002. 

        (j)    Issuance of Additional Option. If an Option Holder pays all or any portion of the exercise price of an Option with Stock,
or pays all or any portion of the applicable withholding taxes with respect to the exercise of an Option with Stock which has been held by the Option Holder for more than six months, the Committee
shall grant to such Option Holder a new Option covering the number of shares of Stock used to pay such exercise price and/or withholding tax. The new Option shall have an Option Price per share equal
to the Fair Market Value of a share of Stock on the date of the exercise of the Option and shall have the same terms and provisions as the Option, except as otherwise determined by the Committee in
its sole discretion. Effective for Options granted on and after January 1, 1994, this subsection 7.2(j) shall be null and void. 

        7.3    Shareholder Privileges.    No Option Holder shall have any rights as a shareholder with respect to any shares
of Stock covered by an Option until the Option Holder becomes the holder of record of such Stock, and no adjustments shall be made for dividends or other distributions or other rights as to which
there is a record date preceding the date such Option Holder becomes the holder of record of such Stock, except as provided in Section 4. 

Section 8
  Restricted Stock Awards

        8.1    Grant of Restricted Stock Awards.    Coincident with or following designation for participation in the Plan,
the Committee may grant a Participant one or more Restricted Stock Awards consisting of shares of Stock. The number of shares granted as a Restricted Stock Award shall be determined by the Committee. 

        8.2    Restrictions.    A Participant's right to retain a Restricted Stock Award granted to him under
Section 8.1 shall be subject to such restrictions, including but not limited to his continuous employment by the Company or an Affiliated Corporation for a restriction period specified by the
Committee or the attainment of specified performance goals and objectives, as may be established by the Committee with respect to such award. The Committee may in its sole discretion require different
periods of employment or different performance goals and objectives with respect to different Participants, to different Restricted Stock Awards or to separate, designated portions of the Stock shares
constituting a Restricted Stock Award. In the event of the death or disability (as defined in subsection 7.2(d)) of a 

9

 

Participant,
or the retirement of a Participant in accordance with the Company's established retirement policy, all employment period and other restrictions applicable to Restricted Stock Awards then
held by him shall lapse with respect to a pro rata part of each such Award based on the ratio between the number of full months of employment completed at the time of termination of employment from
the grant of each Award to the total number of months of employment required for such Award to be fully nonforfeitable, and such portion of each such award shall become fully nonforfeitable. The
remaining portion of each such Award shall be forfeited and shall be immediately returned to the Company. In the event of a Participant's termination of employment for any other reason, any Restricted
Stock Awards as to which the employment period or other restrictions have not been satisfied (or waived or accelerated as provided herein) shall be forfeited, and all shares of Stock related thereto
shall be immediately returned to the Company. 

        8.3    Privileges of a Stockholder, Transferability.    A Participant shall have all voting, dividend, liquidation and
other rights with respect to Stock in accordance with its terms received by him as a Restricted Stock Award under this Section 8 upon his becoming the holder of record of such Stock; provided,
however, that the Participant's right to sell, encumber, or otherwise transfer such Stock shall be subject to the limitations of Sections 9 and 11.2. 

        8.4    Enforcement of Restrictions.    The Committee shall cause a legend to be placed on the Stock certificates
issued pursuant to each Restricted Stock Award referring to the restrictions provided by Section 8.2 and 8.3 and, in addition, may in its sole discretion require one or more of the following
methods of enforcing the restrictions referred to in Sections 8.2 and 8.3: 

        (a)   Requiring
the Participant to keep the Stock certificates, duly endorsed, in the custody of the Company while the restrictions remain in effect; or 

        (b)   Requiring
that the Stock certificates, duly endorsed, be held in the custody of a third party while the restrictions remain in effect. 

Section 9
  Purchase of Stock

        9.1    General.    From time to time the Company may make an offer to certain Participants, designated by the
Committee in its sole discretion, to purchase Stock from the Company. The number of shares of Stock offered by the Company to each selected Participant shall be determined by the Committee in its sole
discretion. The purchase price for the Stock shall be as determined by the Committee in its sole discretion and may be less than the Fair Market Value of the Stock. The Participants who accept the
Company's offer shall purchase the Stock at the time designated by the Committee. The purchase shall be on such additional terms and conditions as may be determined by the Committee in its sole
discretion. 

        9.2    Other Terms.    The Committee may, in its sole discretion, grant Options, Restricted Stock, or any combination
thereof, on terms and conditions determined by the Committee, in its sole discretion, to the Participants who purchase Stock pursuant to Section 9.1. 

Section 10
  Other Common Stock Grants

        From
time to time during the duration of this Plan, the Board may, in its sole discretion, adopt one or more incentive compensation arrangements for Participants pursuant to which the
Participants may acquire shares of Stock, whether by purchase, outright grants, or otherwise. Any such arrangements shall be subject to the general provisions of this Plan and all shares of Stock
issued pursuant to such arrangements shall be issued under this Plan. 

10

 

Section 11
  Company Right To Purchase Stock

        11.1    Right of First Refusal.    (a) The Committee may, in its sole discretion, provide at the time of the
grant of an Award and cause to be reflected in the certificate or agreement with respect to such Award that
the Stock acquired pursuant to the Plan shall be subject to the Company's right of first refusal set forth in the following subsections of this Section 11.1. The Committee may also, in its sole
discretion, waive the Company's rights under this Section 11 with respect to outstanding Awards and may modify outstanding Awards accordingly. 

        (b)   In
the event of the death of a Participant, or if a Participant at any time proposes to transfer any of the Stock acquired pursuant to the Plan to a third party, the
Participant (or his personal representative or estate, as the case may be) shall make a written offer (the "Offer") to sell all of the Stock acquired pursuant to the Plan then owned by the Participant
(or thereafter acquired by the Participant's estate or personal representative pursuant to any Award hereunder) to the Company at the "purchase price" as hereinafter defined. In the case of a proposed
sale of any of the Stock to a third party, the Offer shall state the name of the proposed transferee and the terms and conditions of the proposed transfer. In the case of a proposed sale through or to
a registered broker/dealer, the Offer shall state the name and address of the broker. The Company shall have the right to elect to purchase all (but not less than all) of the shares of Stock. The
Company shall have the right to elect to purchase the shares of Stock for a period of ten (10) days after the receipt by the Company of the Offer. The provisions of this Section 11 shall
apply to proposed sales through or to a registered broker/dealer at the prevailing market price, even if the prevailing market price should fluctuate between the date the Company receives the Offer
and the date the Company elects to purchase the shares of Stock. In all cases, the purchase price for the Stock shall be determined pursuant to subsection 11.1(e). 

        (c)   The
Company shall exercise its right to purchase the Stock by given written notice of its exercise to the Participant (or his personal representative or estate, as the
case may be). If the Company elects to purchase the Stock, payment for the shares of Stock shall be made in full by Company check. Any such payments shall be made within ten (10) days after the
election to purchase has been exercised. 

        (d)   If
the Stock is not purchased pursuant to the foregoing provisions, the shares of Stock may be transferred by the Participant to the proposed transferee named in the
Offer to the Company, in the case of a proposed sale to a third party. However, if such transfer is not made within 120 days following the termination of the Company's right to purchase, a new
offer must be made to the Company before the Participant can transfer any portion of his shares and the provisions of this Section 11 shall again apply to such transfer. If the Company's right
of first refusal under this Section 11 is created by an event other than a proposed transfer to a third party, the shares of Stock shall remain subject to the provisions of this
Section 11 in the hands of the registered owner of the Stock. 

        (e)   The
purchase price for each share of Stock purchased by the Company pursuant to this Section 11 shall be equal to the Fair Market Value of the Stock on the date
the Company receives the Offer under subsection 11.1(a). 

        11.2    Marking of Certificates.    The Committee shall require that certificates representing shares of Stock
acquired pursuant to this Plan that are subject to the provisions of subsections 11.1(b) through (e) bear the following legend: 

The
shares of stock represented by this Certificate are subject to all the terms of the Adolph Coors Company Equity Incentive Plan, as the Plan may be amended from time to time (the "Plan") and to the
terms of a [Non-Qualified Stock Option Agreement] [ 

11

 

Restricted
Stock Agreement] [Stock Purchase Agreement] between the Company and the Participant (the "Agreement"). Copies of the Plan and the Agreement are on file
at the office of the Company. The Plan and the Agreement, among other things, limit the right of the Owner to transfer the shares represented hereby and provides that in certain circumstances the
shares may be purchased by the Company. 

Section 12
  Change of Control

        12.1    In General.    In the event of a Change of Control of the Company as defined in Section 12.3, then,
subject to the provisions of Section 12.2, (a) all Options shall become immediately exercisable in full during the remaining term thereof, and shall remain so, whether or not the
Participants to whom such Options have been granted remain employees of the Company or an Affiliated Corporation; and (b) all restrictions with respect to outstanding Restricted Stock Awards
shall immediately lapse. The Committee shall, in the event of a Change of Control of the Company, either (x) make appropriate provision for the adoption and continuation of the Plan and the
outstanding Options by the acquiring or successor corporation and for the protection of outstanding Options by the substitution on an equitable basis of appropriate stock of the Company or of the
merged, consolidated or other reorganized corporation that will be issuable with respect to the Stock, provided that the excess of the aggregate Fair Market Value of the shares subject to the Options
immediately after such substitution over the Option Price thereof is not less than the excess of the aggregate Fair Market Value of the shares subject to such Options immediately before such
substitution over the Option Price thereof, or (y) upon written notice to the Participants, provide that all unexercised Options must be exercised within a specified number of days (not less
than ninety (90)) of the date of such notice or they will be terminated. 

        12.2    Limitation on Payments.    If the provisions of Section 12 would result in the receipt by any
Participant of a payment within the meaning of Section 280G of the Internal Revenue Code and the regulations promulgated thereunder and if the receipt of such payment by any Participant would,
in the opinion of independent tax counsel of recognized standing selected by the Company, result in the payment by such Participant of any excise tax provided for in Section 4999 of the
Internal Revenue Code, then either (a) the amount of such payment shall be reduced in the manner determined by the Committee to the extent required, in the opinion of such independent tax
counsel, to prevent the imposition of such excise tax; or (b) the amount of such payment shall not be reduced, depending upon whichever
approach results in the greatest net after-tax benefit to the Participant, as determined by such independent tax counsel. 

        12.3    Definitions.    (a) For purposes of the Plan, a "Change of Control" shall occur if: 

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

        (ii)   the
Company consummates a merger, reorganization, recapitalization, joint venture, consolidation, share exchange, business combination or similar form of corporate
transaction involving the Company (each, a "Business Combination") unless, immediately following such Business Combination, more than 50% of the voting power of the then outstanding Voting Stock of
the Person resulting from consummation of such Business Combination (including, 

12

 

without
limitation, any parent or ultimate parent corporation of such Person that as a result of such transaction owns directly or indirectly the Company and all or substantially all of the Company's
assets) is held by the Existing Shareholder. 

        (iii)  individuals
who constitute the Board (the "Incumbent Directors") cease for any reason to constitute at least a majority of the Board, provided that any person becoming
a director subsequent to February 14, 2002, whose election or nomination for election was approved by a vote of at least two-thirds of the Incumbent Directors then on the Board
(either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for director, without written objection to such nomination) shall be an
Incumbent Director; provided, however, that no individual initially elected or nominated as a director
of the Company as a result of an actual or threatened election contest with respect to directors or as a result of any other actual or threatened solicitation of proxies or consents by or on behalf of
any Person other than the Board shall be deemed to be an Incumbent Director; or 

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

        (b)   For
purposes of this Section 12.3, the following definitions are applicable: 

        (i)    "Beneficial Owner and Beneficially Own" mean beneficial ownership as defined in Rules 13d-3 and
13d-5 under the Securities Exchange Act of 1934, except that a person shall be deemed to beneficially own all securities that such person has the right to acquire, whether such right is
exercisable immediately or only after the passage of time. 

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

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

        (iv)  "Person" means any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the 1934
Act). 

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

Section 13
  Rights of Employees; Participants

        13.1    Employment.    Nothing contained in the Plan or in any Option or Restricted Stock Award granted under the Plan
shall confer upon any Participant any right with respect to the continuation of his or her employment by the Company or any Affiliated Corporation, or interfere in any way with the right of the
Company or any Affiliated Corporation, subject to the terms of any separate employment agreement to the contrary, at any time to terminate such employment or to increase or decrease the compensation
of the Participant from the rate in existence at the time of the grant of an Option or Restricted Stock Award. Whether an authorized leave of absence, or absence in military or government service,
shall constitute a termination of employment shall be determined by the Committee at the time. 

13

 

        13.2    Nontransferability.    Except as provided otherwise by the Committee at the time of grant or thereafter, no
right or interest of any Participant in an Option or a Restricted Stock Award (prior to the completion of the restriction period applicable thereto), granted pursuant to the Plan, shall be assignable
or transferable during the lifetime of the Participant, either voluntarily or involuntarily, or subjected to any lien, directly or indirectly, by operation of law, or otherwise, including execution,
levy, garnishment, attachment, pledge or bankruptcy. In the event of a Participant's death, a Participant's rights and interests in Options and Restricted Stock Awards shall, to the extent provided in
Sections 7, 8 and 9, be transferable by testamentary will or the laws of descent and distribution, and payment of any amounts due under the Plan shall be made to, and exercise of any Options may be
made by, the Participant's legal representatives, heirs and legatees. If in the opinion of the Committee a person entitled to payments or to exercise rights with respect to the Plan is disabled from
caring for his affairs because of mental condition, physical condition or age, payment due such person may be made to, and such rights shall be exercised by, such person's guardian, conservator or
other legal personal representative upon furnishing the Committee with evidence satisfactory to the Committee of such status. 

Section 14
  General Restrictions

        14.1    Investment Representations.    The Company may require any person to whom an Option, Restricted Stock Award,
or Stock is granted, or to whom Stock is sold, as a condition of exercising such Option or receiving such Restricted Stock Award or Stock, or purchasing such Stock, to give assurances in substance and
form satisfactory to the Company and its counsel to the effect that such person is acquiring the Stock subject to the Option, Restricted Stock Award, Stock grant, or purchase of Stock, for his own
account for investment and not with any present intention of selling or otherwise distributing the same, and to such other effects as the Company deems necessary or appropriate in order to comply with
Federal and applicable state securities laws. 

        14.2    Compliance with Securities Laws.    Each Option and Restricted Stock Award, and Stock grant or purchase shall
be subject to the requirement that, if any time counsel to the Company shall determine that the listing, registration or qualification of the shares subject to such Option, Restricted Stock Award,
Stock grant or purchase upon any securities exchange or under any state or federal law, or the consent or approval of any governmental or regulatory body, is necessary as a condition of, or in
connection with, the issuance or purchase of shares thereunder, such Option Restricted Stock Award, or Stock grant or purchase may not be accepted or exercised in whole or in part unless such listing,
registration, qualification, consent or approval shall have been effected or obtained on conditions acceptable to the Committee. Nothing herein shall be deemed to require the Company to apply for or
to obtain such listing, registration or qualification. 

        14.3    Changes in Accounting Rules.    Notwithstanding any other provision of the Plan to the contrary, if, during
the term of the Plan, any changes in the financial or tax accounting rules applicable to Options or Restricted Stock Awards shall occur that, in the sole judgment of the Committee, may have a material
adverse effect on the reported earnings, assets or liabilities of the Company, the Committee shall have the right and power to modify as necessary, any then outstanding and unexercised Options and
outstanding Restricted Stock Awards as to which the applicable employment or other restrictions have not been satisfied. 

Section 15
  Other Employee Benefits

        The
amount of any compensation deemed to be received by a Participant as a result of the exercise of an Option, the sale of shares received upon such exercise, the vesting in any
Restricted 

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Stock
Award, or the purchase or grant of Stock, shall not constitute "earnings" with respect to which any other employee benefits of such employee are determined, including without limitation benefits
under any pension, profit sharing, life insurance or salary continuation plan. 

Section 16
  Plan Amendment, Modification and Termination

        The
Board may at any time terminate, and from time to time may amend or modify the Plan provided, however, that no amendment or modification may become effective without approval of the
amendment or modification by the shareholders if shareholder approval is required to enable the Plan to satisfy any applicable statutory or regulatory requirements, or if the Company, on the advice of
counsel, determines that shareholder approval is otherwise necessary or desirable. 

        No
amendment, modification or termination of the Plan shall in any manner adversely affect any Options, Restricted Stock Awards or Stock theretofore granted or purchased under the Plan,
without the consent of the Participant holding such Options, Restricted Stock Awards or Stock. 

Section 17
  Withholding

        17.1    Withholding Requirement.    The Company's obligations to deliver shares of Stock upon the exercise of any
Option, the vesting of any Restricted Stock Award, or the grant or purchase of Stock shall be subject to the Participant's satisfaction of all applicable federal, state and local income and other tax
withholding requirements. 

        17.2    Methods of Withholding.    The withholding obligation with respect to the taxation of Awards hereunder shall
be satisfied either by (a) having the Company withhold from the shares otherwise issuable to the Participant shares of Stock having a value equal to the amount required to be withheld,
(b) having the Participant pay the amount of such withholding directly to the Company in cash, by certified check, cashier's check or other check acceptable to the Company, (c) in the
case of withholding required upon exercise of an Option through delivery of shares of previously owned Stock, or (d) such other arrangements satisfactory to the Company as may be approved by
the Committee, in each case as may be elected by the Participant in accordance with such procedures as may be approved from time to time for this purpose by the Committee, provided, however, that any
such method of withholding taxes must comply with the Company's insider trading policies and the requirements of applicable law, including but not limited to the provisions of the Sarbanes-Oxley Act
of 2002. If shares of Stock are withheld, the value of shares of Stock to be withheld shall be based on the Fair Market Value of the Stock on the date that the amount of tax to be withheld is to be
determined. 

Section 18
  Requirements of Law

        18.1    Requirements of Law.    The issuance of Stock and the payment of cash pursuant to the Plan shall be subject to
all applicable laws, rules and regulations. 

        18.2    Federal Securities Law Requirements.    If a Participant is an executive officer or director of the Company
within the meaning of Section 16, the Committee may require that Awards granted hereunder shall be subject to all conditions required under Rule 16b-3, or any successor rule
promulgated under the 1934 Act, to qualify the Award for any exception from the provisions of Section 16(b) of the 1934 Act available under that Rule. Such conditions shall be set forth in the
agreement with the Participant which describes the Award. 

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        18.3    Governing Law.    The Plan and all agreements hereunder shall be construed in accordance with and governed by
the laws of the State of Delaware. 

Section 19
  Duration of the Plan

        The
Plan shall terminate at such time as may be determined by the Board of Directors, and no Option or Restricted Stock Award, or Stock shall be granted or purchased after such
termination. Options and Restricted Stock Awards outstanding at the time of the Plan termination may continue to be exercised, or become free of restrictions, or paid, in accordance with their terms. 

	Dated:	 	  
	 	 	 	 
	

ATTEST:	
 	

ADOLPH COORS COMPANY
	  
	 	By:	 	  

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ADOLPH COORS COMPANY EQUITY INCENTIVE PLAN

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