Document:

William V. Cary Employment Agreement

 EXHIBIT 10.1 

 

 

 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (“Agreement”) is entered into as of January 1, 2010, (the “Effective
Date”) by and between Central European Distribution Corporation, Inc., a Delaware corporation (the “Company”), and William V. Carey (the “Officer”). 
 WHEREAS, the Company and the Officer previously entered into an employment agreement dated June 11, 2008 (the “Prior Employment
Agreement”); 
 WHEREAS, the Prior Employment Agreement amended the agreement between the Company and the Officer dated
January 17, 2005 (the “2005 Employment Agreement”), which governed the terms and conditions of the Officer’s employment with the Company during the term of the Prior Employment Agreement, including services provided by the
Officer to Carey Agri International Poland Sp. z o.o. (the “Subsidiary”); and 
 WHEREAS, the Company desires to continue to
employ the Officer, and the Officer desires to continue to be employed by the Company, on the terms and conditions set forth herein. 
 NOW,
THEREFORE, in consideration of the mutual covenants and agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties hereto agree as follows: 
  

	1.	Employment. 

 On the terms and conditions set forth in this Agreement, the Company agrees to employ the Officer and the Officer agrees to be employed by the Company for the term set forth in Section 2 hereof and
in the position and with the duties set forth in Section 3 hereof. 

	2.	Term. 

 The term of employment of the Officer by the Company as provided in Section 1 hereof shall commence as of the Effective Date and end on December 31, 2012 (the “Term”). December 31, 2012 shall hereafter be
referred to as the “Expiration Date.” 
  

	3.	Position and Duties. 

 The Officer shall serve as President and Chief Executive Officer of the Company and as President and Chief Executive Officer of the Subsidiary, with such duties and responsibilities as the board of
directors of the Company and/or the Subsidiary may from time to time determine and assign to the Officer. Additionally, the Officer shall serve as the chairman of the management board and the managing director of the Subsidiary. The Officer shall
devote the Officer’s reasonable best efforts and substantially full business time to the performance of the Officer’s duties and the advancement of the business and affairs of the Company and the Subsidiary. The Officer acknowledges that
it is the intent of the Company that his primary responsibilities shall be in connection with the business of the Company and/or Subsidiary. 
  

	4.	Place of Performance. 

 In connection with the Officer’s employment by the Company, the Officer shall be based at the principal executive office of the Subsidiary, which the Company retains the right to change in its
discretion, or such other place as the Company and the Officer mutually agree, except for required travel on Company business. 
  

	5.	Compensation. 

  

	 	5(a)	Base Salary. The parties agree and acknowledge that from January 1, 2010 the Officer shall be paid base salary in the amount of Six-Hundred Twenty-Six
Thousand One Hundred Eighty-Six USD ($626,186) gross per annum by the Company and Subsidiary in the aggregate (the aggregate annual base salary in effect from time to time, the “Base Salary”). Any portion of the Base Salary may be
paid by the Subsidiary as determined by the Company in the Company’s sole discretion. 

 If
the Officer’s Base Salary is increased, the increased amount shall be the Base Salary for the remainder of the employment term hereunder, except

  

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that the Company may reduce the Officer’s Base Salary at any time as part of a general salary reduction applied to all employees of the Company with annual salaries in excess of Sixty
Thousand USD ($60,000) (the “Senior Executive Group”) in which case the Officer’s reduced Base Salary shall be the Base Salary for the remainder of the employment term hereunder. Any such reduction in the Officer’s Base
Salary shall be no more than the lesser of the median percentage salary reduction applied to the Senior Executive Group or twenty percent (20%). The Base Salary shall be payable weekly or in such other installments as shall be consistent with the
Company’s payroll procedures. 
  

	 	5(b)	Bonus. For fiscal year 2010 the Officer shall be entitled to receive fifty-three percent (53%) of the aggregate cash bonus payable under the Company’s
Executive Bonus Plan, the amount and rules of payout of such aggregate cash bonus being established annually by the Board of Directors. Such bonus shall be paid no later than March 15 of the calendar year following the calendar year in which
the services relating to such bonus are performed by the Officer. 

  

	 	5(c)	Equity Awards. The Officer shall be granted yearly equity awards based on Long-Term Stock Incentive Program (the “LTIP”) adopted by the Board in
December 2009. 

  

	 	5(d)	Specific Benefits. The Officer shall receive the following fringe benefits, subject to the Company’s policies in effect from time to time:

  

	 	(d)(i)	Company Car 

  

	 	(d)(ii)	Health plan – Medicover card 

  

	 	(d)(iii)	Housing allowance of Fifty-Six Thousand USD ($56,000) per year 

  

	 	(d)(iv)	School Fee allowance of Eighteen Thousand USD ($18,000) per year to be paid for educational expenses of the Officer’s children 

  

	 	(d)(v)	Security at all times for the Officer and his family as well as pay certain housing expenditures (telephone, electricity) at an annual cost of up to Fifty Thousand USD
($50,000) per year 

  

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	 	(d)(vi)	Family flight tickets to the USA for the Officer’s family at an annual cap of Fourteen Thousand ($14,000) USD per year 

  

	 	5(e)	Other Benefits. 

 The Officer also shall be entitled to participate in such other benefit plans and to receive such bonuses, incentive compensation and fringe benefits as may be granted or established by the Company and/or Subsidiary from time to time,
including the use of an automobile. The Company and Subsidiary each reserve the right to amend, modify or terminate any compensation or benefit plans, policies or agreements at any time and form time to time in the Company’s or
Subsidiary’s discretion, including, without limitation, changing carriers or effecting modifications in insurance coverage for the Officer. 
  

	 	5(f)	Vacation: Holidays. The Officer shall be entitled to all public holidays observed by the Subsidiary, and shall be entitled to thirty (30) vacation days per
year, in accordance with the applicable vacation policies for senior executives of the Company and applicable law, which shall be taken at a reasonable time or times. 

  

	 	5(g)	Cost-of-Living Adjustments. If the spot foreign exchange of PLN to USD will drop for over a period of sixty (60) days below 2.50 then the Compensation
Committee shall determine, in its discretion, if an adjustment to all payments made to the Officer under this Agreement in cash or a cash equivalent (including, without limitation, any base salary, bonus or reimbursement, and any corresponding
payment, if any, due hereunder following the Officer’s termination of employment with the Company and the Subsidiary) shall be subject to increase or decrease pursuant to a cost-of-living adjustment (the “COLA”).

  

	 	5(h)	Withholding Taxes and Other Deductions. The Company and the Subsidiary shall withhold from any payments to the Officer, or with respect to any benefits provided
under this Agreement, any applicable taxes or other deductions as the Company or Subsidiary determine must be withheld pursuant to applicable law or payroll policies. 

  

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	6.	Expenses. 

  

	 	6(a)	The Company or the Subsidiary shall reimburse the Officer for all reasonable expenses incurred by the Officer (in accordance with the policies and procedures in effect
for senior executives of the Company and the Subsidiary) in connection with the Officer’s services under this Agreement. The Officer shall account to the Company or the Subsidiary, as the case may be, for such expenses in accordance with
policies and procedures established by the Company or the Subsidiary. 

  

	 	6(b)	All reimbursements and in-kind benefits provided under the Agreement which are subject to Section 409A of the U.S. Internal Revenue Code of 1986, as amended (the
“Code”), shall be made or provided in accordance with the requirements of Section 409A of the Code, including, where applicable, the requirement that (i) any reimbursement shall be for expenses incurred during the
Officer’s lifetime (or during a shorter period of time specified in this agreement), (ii) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses eligible for
reimbursement, or in-kind benefits to be provided, in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred, and
(iv) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 

  

	7.	Confidential Information. 

  

	 	7(a)	The Officer covenants and agrees that the Officer will not ever, without the prior written consent of the Board or a person authorized by the Board, publish or disclose
to any unaffiliated third party or use for the Officer’s personal benefit or advantage any confidential information with respect to any of the Company’s or Subsidiary’s products, services, subscribers, suppliers, marketing techniques,
methods or future plans disclosed to the Officer as a result of the Officer’s employment with the Company, to the extent such information has heretofore or shall hereafter remain confidential (except for unauthorized disclosures) and except as
otherwise ordered by a court of competent jurisdiction. 

  

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	 	7(b)	The Officer acknowledges that the restrictions contained in Section 7 (a) hereof are reasonable and necessary, in view of the nature of the Company’s
business, in order to protect the legitimate interests of the Company, and that any violation thereof would result in irreparable injury to the Company. Therefore, the Officer agrees that in the event of a breach or threatened breach by the Officer
of the provisions of Section 7(a) hereof, the Company shall be entitled to obtain from any court of competent jurisdiction, preliminary or permanent injunctive relief restraining the Officer from disclosing or using any such confidential
information. Nothing herein shall be construed as prohibiting the Company from pursuing any other remedies available to it for such breach or threatened breach, including, without limitation, recovery of damages from the Officer.

  

	 	7(c)	The Officer shall deliver promptly to the Company on termination of employment, or at any other time the Company may so request, all confidential memoranda, notes,
records, reports and other documents (and all copies thereof) relating to the Company’s and its affiliates’ businesses which the Officer obtained while employed by, or otherwise serving or acting on behalf of, the Company or which the
Officer may then possess or have under his or her control. 

  

	8.	Termination of Employment. 

  

	 	8(a)	Death. The Officer’s employment hereunder shall terminate upon the Officer’s death. 

  

	 	8(b)	By the Company. The Company may terminate the Officer’s employment hereunder under the following circumstances. 

  

	 	(b)(i)	If the Officer shall have been unable to perform all of the Officer’s duties hereunder by reason of illness, physical or mental disability or other similar
incapacity, which inability shall continue for more than six (6) consecutive months, the Company may terminate the Officer’s employment hereunder. 

  

	 	(b)(ii)	The Company may terminate the Officer’s employment hereunder for “Cause.” For purposes of this Agreement, “Cause” shall mean any of the
following: 

  

	 	(ii)(A)	the willful refusal by the Officer to follow a written order of the Chairman of the Board or the Board of Directors, in so far as the request does not breach any
federal, state or local law; 

  

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	 	(ii)(B)	the Officer’s willful engagement in conduct materially injurious to the Company; 

  

	 	(ii)(C)	dishonesty of a material nature that relates to the performance of the Officer’s duties under this Agreement; 

  

	 	(ii)(D)	the Officer’s conviction of any felony involving moral turpitude; or, 

  

	 	(ii)(E)	the Officer’s continued failure to perform his duties under this Agreement (except due to the Officer’s incapacity as a result of physical or mental illness)
to the satisfaction of the Board of Directors of the Company for a period of at least forty-five (45) consecutive days after written notice from the Board of Directors is delivered to the Officer specifically identifying the manner in which the
Officer has failed to perform his duties. 

 In addition, the Company may terminate the
Officer’s employment for “Cause” if the normal business operations of the Company are rendered commercially impractical as a consequence of an act of God, accident, fire, labor controversy, riot or civil commotion, act of public
enemy, law, enactment, rule, order, or any act of government or governmental instrumentality, failure of facilities, or other cause of a similar or dissimilar nature that is not reasonably within the control of the Company or which the Company could
not, by reasonable diligence, have avoided. 
  

	 	8(c)	 By the Officer for Good Reason. The Officer may terminate the Officer’s employment hereunder for “Good Reason.” For purposes of
this Agreement, “Good Reason” shall mean (i) the Company’s failure to perform or observe any of the material terms or provisions of this Agreement, and the continued failure of the Company to cure such default within
thirty (30) days after written demand for performance has been given to the Company by the Officer, which demand shall describe specifically the nature of such alleged failure to perform

  

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or observe such material terms or provisions; or (ii) a material reduction in the scope of the Officer’s responsibilities and duties for the Company or the Subsidiary.

  

	 	8(d)	Either the Company or the Officer may terminate the Officer’s employment for any reason, other than the reasons specified in Sections 8(b) or (c), upon written
notice to the other party as specified in Section 8(e)(iii). 

  

	 	8(e)	Notice of Termination. 

  

	 	(e)(i)	Any termination of the Officer’s employment by the Company or the Officer (other than pursuant to Section 8(a) hereof) shall be communicated by written
“Notice of Termination” to the other party hereto in accordance with Section 10 hereof. For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the Date of
Termination, the specific termination provision in this Agreement relied upon, if any, and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Officer’s employment under the
provision so indicated. 

  

	 	(e)(ii)	For any termination of the Officer’s employment by the Company pursuant to Section 8(b)(i), the Company may give Notice of Termination at any time after the
six (6) consecutive month period in Section 8(b)(i) has ended. 

  

	 	(e)(iii)	For any termination of the Officer’s employment by either the Company or the Officer pursuant to Section 8(d), twelve (12) months notice must be provided
in a Notice of Termination. 

  

	 	(e)(iv)	 Notwithstanding any other provision of this Agreement to the contrary, if the Officer’s employment is terminated under Section 8(c) or
Section 8(d), the Company, in its sole discretion, may accelerate the Date of Termination that is specified in the Notice of Termination, in which case (i) if the Officer terminated his employment with the Company pursuant to
Section 8(c), or if the Company terminated the Officer’s employment pursuant to Section 8(d) without Cause, the Officer shall receive compensation and benefits pursuant to Section 9(e) without

  

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further payment with respect to the shortened notice period, and (ii) if the Officer terminated his employment pursuant to Section 8(d) without Good Reason, he shall receive from the
Company, in accordance with the Company’s regularly scheduled payroll, pay in lieu of notice for the portion of the twelve (12) month notice period remaining after the accelerated Date of Termination. 

  

	 	(e)(v)	It is understood by both the Company and the Officer that termination of this agreement terminates by association any employment agreement with any and all of the
Company’s subsidiaries. 

  

	 	8(f)	Date of Termination. For purposes of this Agreement, the “Date of Termination” shall mean (i) if the Officer’s employment is
terminated by the Officer’s death, the date of the Officer’s death; (ii) if the Officer’s employment is terminated pursuant to Section 8(b)(i) hereof, thirty (30) days after Notice of Termination, provided that the
Officer shall not have returned to the performance of the Officer’s duties on a full-time basis during such thirty (30) day period; (iii) if the Officer’s employment is terminated for any other reason, the date specified as the
Date of Termination in the Notice of Termination. Notwithstanding the previous sentence, in the case of a termination pursuant to Section 8(b)(ii), Section 8(c) or Section 8(d), if payments to the Officer may be subject to
Section 409A of the Code, the Date of Termination shall be no later than the date the Officer experiences a “separation from service” as such term is defined under Section 409A of the Code. 

  

	9.	Compensation Upon Termination. 

  

	 	9(a)	 If the Officer’s employment is terminated by the Officer’s death, the Company shall pay all Accrued Obligations to the Officer’s estate,
or as may be directed by the legal representatives of such estate, and the Company shall have no further obligations to the Officer under this Agreement. “Accrued Obligations” shall mean the following: (1) the lump sum amount
of any Base Salary accrued but unpaid through the Date of Termination, (2) the lump sum amount of any earned but unpaid annual bonus for periods with respect to which the performance period to earn such bonus has closed under the Executive
Bonus plan, (3) the lump sum amount of any accrued but unused paid time off or sick pay in accordance with Company policy and applicable

  

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law, (4) the lump sum of any business expenses incurred which have been properly submitted for reimbursement in accordance with Company and/or Subsidiary policy, but not reimbursed prior to
the Date of Termination, (5) any other compensation or benefits which may be owed or provided to or in respect of the Officer, paid or provided in accordance with the terms and provisions of the applicable benefit plans or programs of the
Company and/or Subsidiary, and (6) less any advances made to the Officer. For all purposes of this Agreement, the cash payments payable to, or with respect to, the Officer under clauses (1), (2) and (3) of the definition of Accrued
Obligations shall be paid within ten (10) days of the Date of Termination or, if earlier, in accordance with applicable law. 

  

	 	9(b)	If the Company terminates the Officer’s employment due to a disability as provided in Section 8(b)(i) hereof, the Officer shall be paid all Accrued
Obligations and the Company shall have no further obligations to the Officer under this Agreement. 

  

	 	9(c)	If the Company terminates the Officer’s employment for Cause as provided in Section 8(b)(ii) hereof, the Company shall pay the Officer all Accrued Obligations
and the Company shall have no further obligations to the Officer under this Agreement. 

  

	 	9(d)	If the Officer terminates the Officer’s employment other than for Good Reason, the Company shall pay to the Officer all Accrued Obligations and the Company shall
have no further obligations to the Officer under this Agreement. 

  

	 	9(e)	 If the Company terminates the Officer’s employment other than for Cause, disability or death, or if the Officer terminates the Officer’s
employment for Good Reason as provided in Section 8(c) hereof, and such termination does not constitute a Qualifying CIC Termination, the Company shall: (i) pay or provide to the Officer all Accrued Obligations; and (ii) pay the
Officer in a single lump sum payment, within thirty (30) calendar days of his Date of Termination, the full Base Salary, bonuses and incentive compensation that would have been payable to the Officer under Sections 5(a), (b) and
(c) from the Date of Termination (without duplication of payments made to the Officer during the applicable notice period) through the Expiration Date, and pay the

  

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Officer any other amounts and provide to the Officer benefits that would have been received by him under Sections 5(a), (b) and (c) hereof, at the time such amounts or benefits would
otherwise have been due in accordance with the Company’s normal payroll practices, and the Company shall have no further obligations to the Officer under this Agreement. For purposes of Section 9(e)(ii), the Officer will be considered to
be entitled to an annual cash bonus equal to the average dollar bonus earned by the Officer during the Company’s two fiscal years immediately prior to Officer’s Date of Termination. 

  

	 	9(f)	Mitigation. The Officer shall not be required to mitigate amounts payable pursuant to Section 9(a) through Section 9(e) hereof by seeking other
employment, provided, however, that any sums earned by the Officer pursuant to any subsequent employment shall be offset against any remaining obligation the Company may have to pay by virtue of termination under this Agreement and, further
provided that, the Company’s obligation to continue to provide the Officer with benefits pursuant to Section 9(e), above, shall cease if the Officer becomes eligible to participate in benefit plans or otherwise receive employer-provided
benefits substantially similar to those provided for in this Agreement as a result of the Officer’s employment during the period that the Officer is entitled to such fringe benefits. The Officer must provide prompt notice to the Company upon
acceptance of any subsequent employment that may impose an offset under this Section 9(f). 

  

	 	9(g)	Change in Control. 

  

	 	(g)(i)	Qualifying CIC Termination: If, during the CIC Provisions Effective Period, the Officer is terminated under conditions constituting a Qualifying CIC Termination,
the Company shall: 

  

	 	(i)(A)	pay or provide to the Officer, as the case may be, the Accrued Obligations; 

  

	 	(i)(B)	 pay to the Officer a lump sum amount equal to two (2) multiplied by the sum of the following: (1) an amount equal to the Officer’s Base
Salary at the rate in effect immediately prior to such Qualifying CIC Termination or, if higher, as in effect immediately prior to the Change in Control, (2) an amount equal to the annual bonus paid or payable for the prior fiscal

  

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year under the Executive Bonus plan, and (3) an amount equal to the Value of all equity awards granted in the prior calendar year. The “Value” of an equity award shall be
determined as follows: (i) the “Value” of an equity award made pursuant to the LTIP shall be equal to the prior calendar year equity award grant expense calculated for US GAAP purposes for such grant awarded to the Officer, and
(ii) the “Value” of any other equity-based awards granted to the Officer shall be determined in a manner consistent with the foregoing, based on the fair market value of the underlying stock as of the last day of such prior calendar
year. 

  

	 	(i)(C)	If the Officer is, on the Date of Termination, covered by a group health plan as defined in Section 4980B of the Code, and the Company would be required to provide
continued health care coverage pursuant to Section 4980B of the Code for the Officer, and, where applicable, the Officer’s spouse and dependents, then the Company shall provide for the direct payment to the carrier for the premium costs
for such continued health care coverage for the Officer, and, where applicable, the Officer’s spouse and dependents, under the Company’s group medical benefit plan, for twelve (12) months following the Qualifying CIC Termination.

  

	 	(i)(D)	Notwithstanding anything in this Agreement to the contrary, if the Officer is eligible for any payment under Section 9(e) of this Agreement as well as under this
Section 9(g)(i), then the Officer shall be paid only amounts under this Section 9(g)(i) and any potential payments under Section 9(e) shall be disregarded. 

  

	 	(g)(ii)	 Vesting Upon a Change in Control: Immediately upon a Change in Control, any equity awards subject to vesting that have been granted to the
Officer under the Company’s equity incentive plans and that are not fully vested shall become fully vested and, in the case of stock options, shall become immediately exercisable, and the Officer shall be entitled, in the case of such stock
options, to exercise such stock options until the earlier of the expiration of their original full term or one year from

  

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the Date of Termination (in each case, without regard to any earlier termination otherwise applicable in the event of termination of employment, and to the extent permitted by Section 409A
of the Code). 

  

	 	(g)(iii)	“Change in Control” shall mean: 

  

	 	(iii)(A)	 the acquisition, directly or indirectly, by any “person” or “group” (as those terms are defined in Sections 3(a)(9), 13(d), and
14(d) of the Exchange Act and the rules thereunder) of “beneficial ownership” (as determined pursuant to Rule 13d-3 under the Exchange Act) of securities entitled to vote generally in the election of directors (“voting
securities”) of the Company that represent 30% or more of the combined voting power of the Company’s then outstanding voting securities, other than (A) an acquisition by a trustee or other fiduciary holding securities under any
employee benefit plan (or related trust) sponsored or maintained by the Company or any person controlled by the Company or by any employee benefit plan (or related trust) sponsored or maintained by the Company or any person controlled by the
Company, or (B) an acquisition of voting securities by the Company or a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of the stock of the Company, or
(C) an acquisition of voting securities pursuant to a transaction described in clause (iii) below that would not be a Change in Control under clause (iii); provided, however, that neither of the following events shall
constitute an “acquisition” by any person or group for purposes of this clause (i): (x) a change in the voting power of the Company’s voting securities based on the relative trading values of the Company’s then outstanding
securities as determined pursuant to the Company’s Certificate of Incorporation, or (y) an acquisition of the Company’s securities by the Company which, either alone or in combination only with the other event, causes the
Company’s voting securities beneficially owned by a person or group to represent 30% or more of the combined voting power of the

  

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Company’s then outstanding voting securities; provided, further, however, that if a person or group shall become the beneficial owner of 30% or more of the combined voting power of the
Company’s then outstanding voting securities by reason of share acquisitions by the Company as described above and shall, after such share acquisitions by the Company, become the beneficial owner of any additional voting securities of the
Company, then such ownership of additional voting securities shall constitute a Change in Control; 

  

	 	(iii)(B)	individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the
Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then
comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened
election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board; 

  

	 	(iii)(C)	 the consummation by the Company (whether directly involving the Company or indirectly involving the Company through one or more intermediaries) of
(x) a merger, consolidation, reorganization, or business combination or (y) a sale or other disposition of all or substantially all of the Company’s assets or (z) the acquisition of assets or stock of another entity, in each
case, other than a transaction (A) which results in the Company’s voting securities outstanding immediately before the transaction continuing to represent (either by remaining outstanding or by being converted into voting securities of the
Company or the person that, as a result of the transaction,

  

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controls, directly or indirectly, the Company or owns, directly or indirectly, all or substantially all of the Company’s assets or otherwise succeeds to the business of the Company (the
Company or such person, the “Successor Entity”)) directly or indirectly, at least 30% of the combined voting power of the Successor Entity’s outstanding voting securities immediately after the transaction, and (B) after
which more than 30% of the members of the board of directors of the Successor Entity were members of the Incumbent Board at the time of the Board’s approval of the agreement providing for the transaction or other action of the Board approving
the transaction, and (C) after which no person or group beneficially owns voting securities representing 30% or more of the combined voting power of the Successor Entity; provided, however, that no person or group shall be treated
for purposes of this clause (C) as beneficially owning 30% or more of combined voting power of the Successor Entity solely as a result of the voting power held in the Company and the other entity prior to the consummation of the transaction; or

  

	 	(iii)(D)	a liquidation or dissolution of the Company. 

   For purposes of clause (A) of this definition of Change in Control, the calculation of voting power shall be made as if the date of the acquisition were a record date for a vote of the
Company’s shareholders, and for purposes of clause (C) of this definition of Change in Control, the calculation of voting power shall be made as if the date of the consummation of the transaction were a record date for a vote of the
Company’s shareholders. 
  

	 	(g)(iv)	“CIC Period” means the period beginning on the date an event that constitutes a Change in Control occurs and ending on the first anniversary of such
date. 

  

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	 	(g)(v)	“Qualifying CIC Termination” shall mean: 

  

	 	(v)(A)	during the CIC Period, the termination of the Officer’s employment by the Company without Cause or the termination of the Officer’s employment by the Officer
for a CIC Good Reason; or 

  

	 	(v)(B)	the occurrence of the following: (1) prior to a Change in Control, the termination of the Officer’s employment by the Company without Cause or the termination
of the Officer’s employment by the Officer for a CIC Good Reason, (2) the Officer reasonably demonstrates that such termination (or CIC Good Reason event) was the result of a third party who had indicated an intention or taken steps
reasonably calculated to effect a Change in Control, and (3) a Change in Control involving such third party (or a party competing with such third party to effectuate a Change in Control) occurs within six (6) months from the date of such
termination. 

  

	 	(g)(vi)	CIC Release. Notwithstanding any provision of this Agreement to the contrary, the Company’s obligations, including but not limited, to all payments and
benefits pursuant to this Section 9(g), shall be conditioned upon the Officer’s execution and the irrevocability of a release in substantially the form attached hereto as Exhibit A (the “CIC Release”). All cash payments
pursuant to this Section 9(g) will be paid on the sixtieth (60th) day following the Date of Termination, provided that the CIC Release becomes irrevocable by such sixtieth (60th) day. The Company shall provide the CIC Release
to the Officer within five days of the Officer’s Date of Termination. 

  

	 	(g)(vii)	 “CIC Good Reason” shall mean the continued failure of the Company to cure within thirty (30) days after written notice describing
the nature of such continued failure has been given to the Company by the Officer within ninety (90) days of the occurrence of any of the following: (i) the Company’s failure to perform or observe any of the material terms or
provisions of this Agreement; (ii) a material reduction in the scope of the Officer’s responsibilities and duties for the Company or the

  

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Subsidiary; (iii) the relocation of Officer’s employment to a facility or a location more than thirty (30) miles from Officer’s then present location and more than thirty
(30) miles from the Officer’s then present residence, without the Officer’s consent; or (iv) a material reduction (being defined as more than 20%) in the Officer’s Base Salary including, without limitation, any material
reduction that is made pursuant to the last paragraph of Section 5(a). 

  

	 	(g)(viii)	 Except as otherwise provided in this Section 9(g) and notwithstanding any provision of the Agreement to the contrary, this Section 9(g) and
Section 21 shall be effective for the period commencing as of the Effective Date and ending on the fifth (5th
) anniversary of the Effective Date (such period, the “CIC Provisions Effective Period”); provided, however, that in each calendar year following 2010, the CIC
Provisions Effective Period shall be automatically extended for an additional full year. This Section 9(g) and Section 21 shall terminate and be of no further force or effect prior to the expiration of the CIC Provisions Effective Period
upon a termination of the Officer’s employment with the Company and the Subsidiary if such termination does not constitute a Qualifying CIC Termination. If the Officer’s termination of employment with the Company and the Subsidiary
constitutes a Qualifying CIC Termination, this Section 9(g) and Section 21 shall remain effective until full payment of any and all amounts under Section 9(g)(i) and Section 21, and full provision of any and all benefits under
Section 9(g)(i), has been made. 

  

	10.	Notices. 

 All
notices, demands, requests or other communications required or permitted to be given or made hereunder shall be in writing and shall be delivered, telecopied or mailed by first class registered or certified mail, postage prepaid, addressed as
follows: 
  

			
	10(a)	  	If to the Company:
		
		  	 Central European Distribution Corporation
 ul. Bobrowiecka 6

		  	00-728 Warsaw, Poland
		  	Telecopier: 48 22 488 34 10

  

 17 

			
	Attention:	  	James Archbold
		  	Vice President, Secretary and Director of Investor Relations or
		
		  	William V. Carey
		  	President
		  	Bokserska 66A
		  	02-690 Warsaw (Poland)

  

			
	10(b)	  	If to the Officer:
		
		  	William V. Carey
		
		  	1602 Cottagewood Drive
		  	Brandon, Florida 33511
		  	Telephone: 813-685-1561

 Or to such other
address as may be designated by either party in a notice to the other. Each notice, demand, request or other communication that shall be given or made in the manner described above shall be deemed sufficiently given or made for all purposes at such
time as it is delivered to the addressee (with the return receipt, the delivery receipt, the answer back or the affidavit of messenger being deemed conclusive evidence of such delivery) or at such time as delivery is refused by the addressee upon
presentation. 
  

	11.	Severability. 

 The
invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of the other provisions of this Agreement, which shall remain in full force and effect. 
  

	12.	Survival. 

 It is
the express intention and agreement of the parties hereto that the provisions of Sections 7 hereof shall survive the termination of employment of the Officer. In addition, all obligations of the Company to make payments hereunder shall survive any
termination of this Agreement on the terms and conditions set forth herein. 
  

	13.	Assignment. 

 The
rights and obligations of the parties to this Agreement shall not be assignable, except that the rights and obligations of the Company hereunder shall be assignable in connection with any subsequent merger, consolidation, sale of all substantially
all of the

  

 18 

 
assets of the Company or similar reorganization of a successor corporation. The Company shall be obligated, upon a Change in Control, to assign all obligations and rights under this Agreement to
any successor in interest to the Company and to have such successor in interest assume such obligations and rights. 
  

	14.	Binding Effect. 

 Subject to any provisions hereof restricting assignment, this Agreement shall be binding upon the parties hereto and shall inure to the benefit of the parties and their respective heirs, devisees, executors, administrators, legal
representatives, successors and assigns. 
  

	15.	Amendment Waiver. 

 This Agreement shall not be amended, altered or modified except by an instrument in writing duly executed by the parties hereto. Neither the waiver by either of the parties hereto of a breach of or a default under any of the provisions of
this Agreement, nor the failure of either of the parties, on one or more occasions, to enforce any of the provisions of this Agreement or to exercise any right or privilege hereunder, shall thereafter be construed as a waiver of any subsequent
breach or default of a similar nature, or as a waiver of any such provisions, rights or privileges hereunder . 
  

	16.	Headings. 

 Section
and subsection headings contained in this Agreement are inserted for convenience of reference only, shall not be deemed to be a part of this Agreement for any purpose, and shall not in any way define or affect the meaning, construction or scope of
any of the provisions hereof. Any reference herein to a “Reserved” provision shall not have any meaning for purposes of interpreting the terms or provisions of this Agreement. 
  

	17.	Governing Law. 

 This Agreement, the rights and obligations of the parties hereto, and any claims or disputes relating thereto, shall be governed by and construed in accordance with the laws of the State of Delaware (but not including the choice of law
rules thereof). 
  

 19 

	18.	Action of Behalf of the Subsidiary. 

 The Company is executing this Agreement also on behalf of its Subsidiary and agrees to cause the Subsidiary to fulfill its obligations hereunder, through the appointment and removal, if necessary, of
members of the management board of the Subsidiary. 
  

	19.	Entire Agreement. 

 This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof, and it supersedes all prior oral or written agreements, commitments or understandings with respect to the matters provided
for herein, including the Prior Employment Agreement and the 2005 Employment Agreement. 
  

	20.	Counterparts. 

 This Agreement may be executed in two or more counterparts, each of which shall be an original and all of which shall be deemed to constitute one and the same instrument. 
  

	21.	Parachute Tax. 

 Anything in this Agreement to the contrary notwithstanding, if it shall be determined that any payment, award, benefit or distribution by the Company (or any of its affiliated entities) or by any entity which effectuates a Change of Control
(or any of its affiliated entities) to or for the benefit of the Officer (whether pursuant to the terms of this Agreement or otherwise) (each a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code
or any corresponding provisions of state or local tax laws, or any interest or penalties with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the “Excise
Tax”), and if it shall also be determined that, by reducing the Payments to a present value (as calculated in accordance with Section 280G of the Code) that is one dollar less than the Safe Harbor Amount (as hereinafter defined), the
Officer would receive a larger after-tax benefit from the Payments than if such reduction had not occurred, the Payments shall be reduced so as to have a present value that is one dollar less than the Safe Harbor Amount. The reduction of the amounts
payable hereunder, if applicable, shall be made by first reducing the payments or benefits provided under Section 9(g)(i) before reducing the other payments under this Agreement or otherwise; thereafter any such reduction shall be made to other
cash payments to which the Officer is entitled. For purposes of this Section 21, “Safe Harbor Amount” shall mean the greatest amount that could be paid to the Officer such that the receipt of Payments would not

  

 20 

 
give rise to any Excise Tax. All determinations required to be made under this Section 21 shall be made by the public accounting firm that is retained by the Company as of the date
immediately prior to the Change in Control (the “Accounting Firm”), which shall provide detailed supporting calculations both to the Company and the Officer within fifteen (15) business days of the receipt of notice from the
Officer that there has been a Payment, or such earlier time as is requested by the Company. All fees and expenses of the Accounting Firm shall be borne solely by the Company. 
  

	22.	Section 409A. 

 It is intended that this Agreement will comply with Section 409A of the Code, to the extent the Agreement is subject thereto, and the Agreement shall be interpreted on a basis consistent with such intent. If an amendment of the
Agreement is necessary in order for it to comply with Section 409A of the Code, the parties hereto will negotiate in good faith to amend the Agreement in a manner that preserves the original intent of the parties to the extent reasonably
possible. Notwithstanding any provision to the contrary in this Agreement, and except as otherwise provided in this Agreement, if a payment or benefit is to be paid upon the Officer’s Date of Termination or termination, then such payment shall
be delayed until the Officer has experienced a “separation from service” (as such term is defined under Section 409A of the Code); provided, however, that if a payment or benefit is considered to be a deferral of compensation subject
to Section 409A of the Code and the Officer is deemed to be a “specified employee” within the meaning of that term under Section 409A(a)(2)(B) of the Code, then with regard to any payment or the provisions of any benefit that is
required to be delayed pursuant to Section 409A(a)(2)(B) of the Code, such payment or benefit shall not be made or provided prior to the earlier of (i) the expiration of the six (6)-month period measured from the date of the Officer’s
“separation from service” (as such term is defined in U.S. Treasury Regulations issued under Section 409A of the Code), or (ii) the date of the Officer’s death (the “Delay Period”). As soon as practicable
following the expiration of the Delay Period, all payments and benefits delayed pursuant to this Section 22 (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or
reimbursed to the Officer in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. Notwithstanding the foregoing, to the extent
that the foregoing applies to the provision of any ongoing welfare benefits to the Officer that would not be required to be delayed if the premiums therefore were paid by the Officer, the Officer shall pay the full costs of premiums for such welfare
benefits during the Delay Period and the

  

 21 

 
Company shall pay the Officer an amount equal to the amount of such premiums paid by the Officer during the Delay Period within thirty (30) days after the conclusion of such Delay Period.

 IN WITNESS WHEREOF, the undersigned have duly executed this Agreement, or have caused this Agreement to be duly executed on their behalf, as
of the day and year first hereinabove written. 
  

			
	CENTRAL EUROPEAN DISTRIBUTION CORPORATION
		
	By:	 	
	
	 /s/ Jan Laskowski

	Name:	 	Jan Laskowski
	Title:	 	Chairman of the Compensation Committee of the Board of Directors
	
	 /s/ William V. Carey

	Name:	 	William V. Carey
	Title:	 	The Officer

  

 22 

 EXHIBIT A 
 TO THE 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 BETWEEN 
 CENTRAL EUROPEAN DISTRIBUTION CORPORATION, INC. 
 AND 
 WILLIAM CAREY 
 GENERAL RELEASE AND WAIVER AGREEMENT1

 This General Release and Waiver Agreement (the “Agreement”) is made as of
                    ,      by and between William Carey (the “Officer”) and Central European Distribution Corporation,
Inc., a Delaware corporation (together with all of its subsidiaries and affiliated entities, collectively hereinafter referred to as “Company”). 
 I. TERMINATION OF EMPLOYMENT 
 The parties acknowledge that the Officer
terminated his employment with the Company effective [list date] and that such termination constituted a Qualifying CIC Termination as defined in Section 9(g)(v) of the Amended and Restated Employment Agreement between Central
European Distribution Corporation, Inc. and the Officer, dated as of January 1, 2010 (the “Employment Agreement”). 
 II.
CONSIDERATION 
 As consideration for Officer’s entering into and abiding by this Agreement, (i) the Company will
pay and provide to the Officer the amounts and benefits specified in Section 9(g)(i) and (ii) of the Employment Agreement (all such amounts and benefits the “Aggregate Severance Payments”). The parties agree that the Aggregate
Severance Payments are in excess of any payments or benefits to which Officer may otherwise be entitled from the Company and its subsidiaries and affiliated entities. 
 III. COMPLETE RELEASE 
 Officer, for Officer and Officer’s
predecessors, successors, assigns, and heirs, hereby discharges and releases Company and, as applicable, each of the Company’s predecessors, representatives, the Company’s present or former officers, directors, employees, stockholders,
affiliates, insurers, successors and assigns, from all claims or demands Officer may have based on Officer’s employment with Company or the termination of that employment. This includes a release of any rights or claims Officer may have based
on any facts or events, whether known or unknown by the Officer that occurred on or before the effective date of this Agreement or events that are contemplated by this Agreement, including, without limitation, a release of any rights or claims
Officer may have based on (i) the following United States laws: the Civil Rights Acts of 1964, as amended; the Age Discrimination in Employment Act of 1967, as amended; the Americans with Disabilities Act of 1990; the Rehabilitation Act of
1973; the Equal Pay Act of 1963; or the Employee Retirement Income Security Act of 1974, as amended; (ii) applicable laws of the states of the United States concerning wages, employment and discharge; (iii) claims arising out of any

  

	1	Provisions of Agreement should be modified to comply with legal requirements and customs under non-U.S. law. 

  

 23 

 legal restrictions of the right to terminate Officer such as wrongful or unlawful discharge or related
causes of action; (iv) intentional infliction of emotional distress or any other tortious conduct; and/or (v) violations of any contract or promise express or implied. No reference to the aforementioned causes of action or claims is
intended to limit the scope of this Agreement. Notwithstanding the foregoing, the Officer does not hereby release any rights or claims with respect to the period following the effective date of this Agreement. 
 IV. PERIOD FOR REVIEW AND CONSIDERATION OF AGREEMENT 
 Officer confirms that Officer is over the age of 40 and has been given twenty-one (21) days [or forty-five (45) days if applicable under ADEA] to review and consider this Agreement before
signing it. 
 [If forty-five (45) day period applies, additional information will be attached as required by ADEA.] 
 V. ENCOURAGEMENT TO CONSULT WITH AN ATTORNEY 
 Officer is encouraged, at Officer’s own expense, to consult with an attorney before signing this Agreement. 
 VI. OFFICER’S RIGHT TO REVOKE AGREEMENT 
 If this Agreement is signed
by Officer and returned to Company within the time specified in Section IV, Officer may revoke this Agreement within seven (7) calendar days of the date of the Officer’s signature. Revocation can be made by delivering a written notice of
revocation to the Company. For this revocation to be effective, written notice must be received no later than the close of business on the seventh (7th) calendar day (or next business day thereafter) after the Officer signs this Agreement. If
the Officer revokes this Agreement, it shall not be effective or enforceable and Officer will not receive the payments described in Section II. Notices for the purposes of this paragraph shall be effective if delivered personally, or by certified
mail to the following address (or such other address as Officer shall notify Company, or Company shall notify Officer (as the case may be), in each case in writing): 
  

							
	Officer: William Carey	 		  	Company:	  	Central European Distribution
		 		  		  	Corporation, Inc.
			
	[Officer’s Address]	 		  	[Company’s Address]
		 		  	Attention:	  	[Company Representative]

 VII. SEVERABILITY AND
JUDICIAL RESTATEMENT 
 Officer and Company agree that the provisions of this Agreement are severable and divisible. In the
event any portion of this Agreement is determined to be illegal or unenforceable, the remaining provisions of this Agreement shall remain in full force and effect. 
 VIII. TAXES 
 Officer is responsible for any tax liability associated with
payments provided under this Agreement. Company has the right to withhold taxes from such payments to the extent required by law. 
  

 24 

 IX. MISCELLANEOUS 
 This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to principles of conflict of laws thereunder. 
 The captions of this Agreement are not part of the provisions hereof and shall not have any force or effect. 
 This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective
successors and legal representatives. 
 Nothing contained in this Agreement is intended to be, or shall be construed to be, an
admission of any liability by any party or an admission of the existence of any facts upon which liability could be based. 
 Officer acknowledges and represents that Officer has voluntarily executed this Agreement. 
 This Agreement shall not
be assignable, except that in the event of the death of Officer while amounts or benefits are still due hereunder, any remaining payments due as described in Section II hereof shall be paid to Officer’s estate. 
 X. EFFECTIVE DATE OF AGREEMENT 
 The effective date of this Agreement shall be seven (7) calendar days after the date this Agreement is signed and dated by Officer. If the Agreement is not dated by Officer then, in that event, the effective date of this Agreement
shall be seven (7) calendar days after receipt of the signed Agreement by Company. 
 PLEASE READ CAREFULLY. THIS AGREEMENT INCLUDES A
RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS TO THE DATE OF THIS AGREEMENT INCLUDING THOSE PURSUANT TO THE AGE DISCRIMINATION IN EMPLOYMENT ACT, AS AMENDED, AND OTHER LAWS PROHIBITING DISCRIMINATION IN EMPLOYMENT. OFFICER ACKNOWLEDGES THAT OFFICER HAS
READ THIS AGREEMENT, UNDERSTANDS IT AND IS VOLUNTARILY ENTERING INTO IT. 
  

			
	CENTRAL EUROPEAN DISTRIBUTION CORPORATION, INC.
		
	By:	 	  

		
	Date:	 	  

	
	  

	William Carey
		
	Date:	 	  

  

 25Christopher Biedermann Employment Agreement

 EXHIBIT 10.2 

 

 

 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (“Agreement”) is entered into as of January 1, 2010, (the “Effective
Date”) by and between Central European Distribution Corporation, Inc., a Delaware corporation (the “Company”), and Christopher Biedermann (the “Officer”). 
 WHEREAS, the Company and the Officer previously entered into an employment agreement dated June 11, 2008 (the “Prior Employment
Agreement”); 
 WHEREAS, the Prior Employment Agreement amended the agreement between the Company and the Officer dated January 1,
2005 (the “2005 Employment Agreement”), which governed the terms and conditions of the Officer’s employment with the Company during the term of the Prior Employment Agreement, including services provided by the Officer to Carey
Agri International Poland Sp. z o.o. (the “Subsidiary”); and 
 WHEREAS, the Company desires to continue to employ the Officer,
and the Officer desires to continue to be employed by the Company, on the terms and conditions set forth herein. 
 NOW, THEREFORE, in
consideration of the mutual covenants and agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties hereto agree as follows: 
  

	1.	Employment. 

 On the terms and conditions set forth in this Agreement, the Company agrees to employ the Officer and the Officer agrees to be employed by the Company for the term set forth in Section 2 hereof and
in the position and with the duties set forth in Section 3 hereof. 

	2.	Term. 

 The term of employment of the Officer by the Company as provided in Section 1 hereof shall commence as of the Effective Date and end on December 31, 2012 (the “Term”).
December 31, 2012 shall hereafter be referred to as the “Expiration Date.” 
  

	3.	Position and Duties. 

 The Officer shall serve as Chief Financial Officer of the Company. The Officer shall devote the Officer’s reasonable best efforts and substantially full business time to the performance of the
Officer’s duties and the advancement of the business and affairs of the Company and the Subsidiary. The Officer acknowledges that it is the intent of the Company that his primary responsibilities shall be in connection with the business of the
Subsidiary. 
  

	4.	Place of Performance. 

 In connection with the Officer’s employment by the Company, the Officer shall be based at the principal executive office of the Subsidiary, which the Company retains the right to change in its
discretion, or such other place as the Company and the Officer mutually agree, except for required travel on Company business. 
  

	5.	Compensation. 

  

	 	5(a)	Base Salary. The parties agree and acknowledge that from January 1, 2010, the Officer shall be paid base salary in the amount of Three Hundred Fifty-One
Thousand Four Hundred Twenty-Eight USD ($351,428) gross per annum by the Company and Subsidiary in the aggregate (the aggregate annual base salary in effect from time to time, the “Base Salary”). Any portion of the Base Salary may
be paid by the Subsidiary as determined by the Company in the Company’s sole discretion. 

 If the Officer’s Base Salary is increased, the increased amount shall be the Base Salary for the remainder of the employment term hereunder, except that the Company may reduce the Officer’s Base Salary at any time as part of a
general salary reduction applied to all employees of the Company with annual salaries in excess of Sixty Thousand USD ($60,000) (the “Senior Executive

  

 2 

 
Group”) in which case the Officer’s reduced Base Salary shall be the Base Salary for the remainder of the employment term hereunder. Any such reduction in the Officer’s Base
Salary shall be no more than the lesser of the median percentage salary reduction applied to the Senior Executive Group or twenty percent (20%). The Base Salary shall be payable weekly or in such other installments as shall be consistent with the
Company’s payroll procedures. 
  

	 	5(b)	Bonus. For fiscal year 2010, the Officer shall be entitled to receive twenty percent (20%) of the aggregate cash bonus payable under the Company’s
Executive Bonus Plan, the amount and rules of payout of such aggregate cash bonus being established annually by the Board of Directors. Such bonus shall be paid no later than March 15 of the calendar year following the calendar year in which
the services relating to such bonus are performed by the Officer. 

  

	 	5(c)	Equity Awards. The Officer shall be granted yearly equity awards based on Long-Term Stock Incentive Program (the “LTIP”) adopted by the Board in
December 2009. 

  

	 	5(d)	Specific Benefits. The Officer shall receive the following fringe benefits, subject to the Company’s policies in effect from time to time:

  

	 	(d)(i)	Company Car 

  

	 	(d)(ii)	Health plan – Medicover card 

  

	 	5(e)	Other Benefits. 

 The Officer also shall be entitled to participate in such other benefit plans and to receive such bonuses, incentive compensation and fringe benefits as may be granted or established by the Company and/or Subsidiary from time to time. The
Company and Subsidiary each reserve the right to amend, modify or terminate any compensation or benefit plans, policies or agreements at any time and form time to time in the Company’s or Subsidiary’s discretion, including, without
limitation, changing carriers or effecting modifications in insurance coverage for the Officer. 
  

 3 

	 	5(f)	Vacation: Holidays. The Officer shall be entitled to all public holidays observed by the Subsidiary, and shall be entitled to thirty (30) vacation days per
year, in accordance with the applicable vacation policies for senior executives of the Company and applicable law, which shall be taken at a reasonable time or times. 

  

	 	5(g)	Cost-of-Living Adjustments. If the spot foreign exchange of PLN to USD will drop for over a period of sixty (60) days below 2.50 then the Compensation
Committee shall determine, in its discretion, if an adjustment to all payments made to the Officer under this Agreement in cash or a cash equivalent (including, without limitation, any base salary, bonus or reimbursement, and any corresponding
payment, if any, due hereunder following the Officer’s termination of employment with the Company and the Subsidiary) shall be subject to increase or decrease pursuant to a cost-of-living adjustment (the “COLA”).

  

	 	5(h)	Withholding Taxes and Other Deductions. The Company and the Subsidiary shall withhold from any payments to the Officer, or with respect to any benefits provided under
this Agreement, any applicable taxes or other deductions as the Company or Subsidiary determine must be withheld pursuant to applicable law or payroll policies. 

  

	6.	Expenses. 

  

	 	6(a)	The Company or the Subsidiary shall reimburse the Officer for all reasonable expenses incurred by the Officer (in accordance with the policies and procedures in effect
for senior executives of the Company and the Subsidiary) in connection with the Officer’s services under this Agreement. The Officer shall account to the Company or the Subsidiary, as the case may be, for such expenses in accordance with
policies and procedures established by the Company or the Subsidiary. 

  

	 	6(b)	 All reimbursements and in-kind benefits provided under the Agreement which are subject to Section 409A of the U.S. Internal Revenue Code of 1986,
as amended (the “Code”), shall be made or provided in accordance with the requirements of Section 409A of the Code, including, where applicable, the

  

 4 

	 	 
requirement that (i) any reimbursement shall be for expenses incurred during the Officer’s lifetime (or during a shorter period of time specified in this agreement), (ii) the
amount of expenses eligible for reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year, (iii) the reimbursement
of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred, and (iv) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for
another benefit. 

  

	7.	Confidential Information. 

  

	 	7(a)	The Officer covenants and agrees that the Officer will not ever, without the prior written consent of the Board or a person authorized by the Board, publish or disclose
to any unaffiliated third party or use for the Officer’s personal benefit or advantage any confidential information with respect to any of the Company’s or Subsidiary’s products, services, subscribers, suppliers, marketing techniques,
methods or future plans disclosed to the Officer as a result of the Officer’s employment with the Company, to the extent such information has heretofore or shall hereafter remain confidential (except for unauthorized disclosures) and except as
otherwise ordered by a court of competent jurisdiction. 

  

	 	7(b)	The Officer acknowledges that the restrictions contained in Section 7 (a) hereof are reasonable and necessary, in view of the nature of the Company’s
business, in order to protect the legitimate interests of the Company, and that any violation thereof would result in irreparable injury to the Company. Therefore, the Officer agrees that in the event of a breach or threatened breach by the Officer
of the provisions of Section 7(a) hereof, the Company shall be entitled to obtain from any court of competent jurisdiction, preliminary or permanent injunctive relief restraining the Officer from disclosing or using any such confidential
information. Nothing herein shall be construed as prohibiting the Company from pursuing any other remedies available to it for such breach or threatened breach, including, without limitation, recovery of damages from the Officer.

  

 5 

	 	7(c)	The Officer shall deliver promptly to the Company on termination of employment, or at any other time the Company may so request, all confidential memoranda, notes,
records, reports and other documents (and all copies thereof) relating to the Company’s and its affiliates’ businesses which the Officer obtained while employed by, or otherwise serving or acting on behalf of, the Company or which the
Officer may then possess or have under his or her control. 

  

	8.	Termination of Employment. 

  

	 	8(a)	Death. The Officer’s employment hereunder shall terminate upon the Officer’s death. 

  

	 	8(b)	By the Company. The Company may terminate the Officer’s employment hereunder under the following circumstances. 

  

	 	(b)(i)	If the Officer shall have been unable to perform all of the Officer’s duties hereunder by reason of illness, physical or mental disability or other similar
incapacity, which inability shall continue for more than six (6) consecutive months, the Company may terminate the Officer’s employment hereunder. 

  

	 	(b)(ii)	The Company may terminate the Officer’s employment hereunder for “Cause.” For purposes of this Agreement, “Cause” shall mean any of the
following: 

  

	 	(ii)(A)	the willful refusal by the Officer to follow a written order of the Chairman of the Board or the Board of Directors, in so far as the request does not breach any
federal, state or local law; 

  

	 	(ii)(B)	the Officer’s willful engagement in conduct materially injurious to the Company; 

  

	 	(ii)(C)	dishonesty of a material nature that relates to the performance of the Officer’s duties under this Agreement; 

  

	 	(ii)(D)	the Officer’s conviction of any felony involving moral turpitude; or, 

  

 6 

	 	(ii)(E)	the Officer’s continued failure to perform his duties under this Agreement (except due to the Officer’s incapacity as a result of physical or mental illness)
to the satisfaction of the Board of Directors of the Company for a period of at least forty-five (45) consecutive days after written notice from the Board of Directors is delivered to the Officer specifically identifying the manner in which the
Officer has failed to perform his duties. 

 In addition, the Company may terminate the
Officer’s employment for “Cause” if the normal business operations of the Company are rendered commercially impractical as a consequence of an act of God, accident, fire, labor controversy, riot or civil commotion, act of public
enemy, law, enactment, rule, order, or any act of government or governmental instrumentality, failure of facilities, or other cause of a similar or dissimilar nature that is not reasonably within the control of the Company or which the Company could
not, by reasonable diligence, have avoided. 
  

	 	8(c)	By the Officer for Good Reason. The Officer may terminate the Officer’s employment hereunder for “Good Reason.” For purposes of this Agreement,
“Good Reason” shall mean (i) the Company’s failure to perform or observe any of the material terms or provisions of this Agreement, and the continued failure of the Company to cure such default within thirty (30) days
after written demand for performance has been given to the Company by the Officer, which demand shall describe specifically the nature of such alleged failure to perform or observe such material terms or provisions; or (ii) a material reduction
in the scope of the Officer’s responsibilities and duties for the Company or the Subsidiary. 

  

	 	8(d)	Either the Company or the Officer may terminate the Officer’s employment for any reason, other than the reasons specified in Sections 8(b) or (c), upon written
notice to the other party as specified in Section 8(e)(iii). 

  

 7 

	 	8(e)	Notice of Termination. 

  

	 	(e)(i)	Any termination of the Officer’s employment by the Company or the Officer (other than pursuant to Section 8(a) hereof) shall be communicated by written
“Notice of Termination” to the other party hereto in accordance with Section 10 hereof. For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the Date of Termination, the
specific termination provision in this Agreement relied upon, if any, and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Officer’s employment under the provision so indicated.

  

	 	(e)(ii)	For any termination of the Officer’s employment by the Company pursuant to Section 8(b)(i), the Company may give Notice of Termination at any time after the
six (6) consecutive month period in Section 8(b)(i) has ended. 

  

	 	(e)(iii)	For any termination of the Officer’s employment by either the Company or the Officer pursuant to Section 8(d), twelve (12) months notice must be provided
in a Notice of Termination. 

  

	 	(e)(iv)	Notwithstanding any other provision of this Agreement to the contrary, if the Officer’s employment is terminated under Section 8(c) or Section 8(d), the
Company, in its sole discretion, may accelerate the Date of Termination that is specified in the Notice of Termination, in which case (i) if the Officer terminated his employment with the Company pursuant to Section 8(c), or if the Company
terminated the Officer’s employment pursuant to Section 8(d) without Cause, the Officer shall receive compensation and benefits pursuant to Section 9(e) without further payment with respect to the shortened notice period, and
(ii) if the Officer terminated his employment pursuant to Section 8(d) without Good Reason, he shall receive from the Company, in accordance with the Company’s regularly scheduled payroll, pay in lieu of notice for the portion of the
six (6) month notice period remaining after the accelerated Date of Termination. 

  

 8 

	 	(e)(v)	It is understood by both the Company and the Officer that termination of this agreement terminates by association any employment agreement with any and all of the
Company’s subsidiaries. 

  

	 	8(f)	Date of Termination. For purposes of this Agreement, the “Date of Termination” shall mean (i) if the Officer’s employment is
terminated by the Officer’s death, the date of the Officer’s death; (ii) if the Officer’s employment is terminated pursuant to Section 8(b)(i) hereof, thirty (30) days after Notice of Termination, provided that the
Officer shall not have returned to the performance of the Officer’s duties on a full-time basis during such thirty (30) day period; (iii) if the Officer’s employment is terminated for any other reason, the date specified as the
Date of Termination in the Notice of Termination. Notwithstanding the previous sentence, in the case of a termination pursuant to Section 8(b)(ii), Section 8(c) or Section 8(d), if payments to the Officer may be subject to
Section 409A of the Code, the Date of Termination shall be no later than the date the Officer experiences a “separation from service” as such term is defined under Section 409A of the Code. 

  

	9.	Compensation Upon Termination. 

  

	 	9(a)	 If the Officer’s employment is terminated by the Officer’s death, the Company shall pay all Accrued Obligations to the Officer’s estate,
or as may be directed by the legal representatives of such estate, and the Company shall have no further obligations to the Officer under this Agreement. “Accrued Obligations” shall mean the following: (1) the lump sum amount
of any Base Salary accrued but unpaid through the Date of Termination, (2) the lump sum amount of any earned but unpaid annual bonus for periods with respect to which the performance period to earn such bonus has closed under the Executive
Bonus plan, (3) the lump sum amount of any accrued but unused paid time off or sick pay in accordance with Company policy and applicable law, (4) the lump sum of any business expenses incurred which have been properly submitted for
reimbursement in accordance with Company and/or Subsidiary policy, but not reimbursed prior to the Date of Termination, (5) any other compensation or benefits which may be owed or provided to or in respect of the Officer, paid or provided in
accordance with the terms and provisions of

  

 9 

	 	 
the applicable benefit plans or programs of the Company and/or Subsidiary, and (6) less any advances made to the Officer. For all purposes of this Agreement, the cash payments payable to, or
with respect to, the Officer under clauses (1), (2) and (3) of the definition of Accrued Obligations shall be paid within ten (10) days of the Date of Termination or, if earlier, in accordance with applicable law.

  

	 	9(b)	If the Company terminates the Officer’s employment due to a disability as provided in Section 8(b)(i) hereof, the Officer shall be paid all Accrued
Obligations and the Company shall have no further obligations to the Officer under this Agreement. 

  

	 	9(c)	If the Company terminates the Officer’s employment for Cause as provided in Section 8(b)(ii) hereof, the Company shall pay the Officer all Accrued Obligations
and the Company shall have no further obligations to the Officer under this Agreement. 

  

	 	9(d)	If the Officer terminates the Officer’s employment other than for Good Reason, the Company shall pay to the Officer all Accrued Obligations and the Company shall
have no further obligations to the Officer under this Agreement. 

  

	 	9(e)	 If the Company terminates the Officer’s employment other than for Cause, disability or death, or if the Officer terminates the Officer’s
employment for Good Reason as provided in Section 8(c) hereof, and such termination does not constitute a Qualifying CIC Termination, the Company shall: (i) pay or provide to the Officer all Accrued Obligations; and (ii) pay the
Officer in a single lump sum payment, within thirty (30) calendar days of his Date of Termination, the full Base Salary, bonuses and incentive compensation that would have been payable to the Officer under Sections 5(a), (b) and
(c) from the Date of Termination (without duplication of payments made to the Officer during the applicable notice period) through the Expiration Date, and pay the Officer any other amounts and provide to the Officer benefits that would have
been received by him under Sections 5(a), (b) and (c) hereof, at the time such amounts or benefits would otherwise have been due in accordance with the Company’s normal payroll practices, and the Company shall have no further

  

 10 

	 	 
obligations to the Officer under this Agreement. For purposes of Section 9(e)(ii), the Officer will be considered to be entitled to an annual cash bonus equal to the average dollar bonus
earned by the Officer during the Company’s two fiscal years immediately prior to Officer’s Date of Termination. 

  

	 	9(f)	Mitigation. The Officer shall not be required to mitigate amounts payable pursuant to Section 9(a) through Section 9(e) hereof by seeking other
employment, provided, however, that any sums earned by the Officer pursuant to any subsequent employment shall be offset against any remaining obligation the Company may have to pay by virtue of termination under this Agreement and, further
provided that, the Company’s obligation to continue to provide the Officer with benefits pursuant to Section 9(e), above, shall cease if the Officer becomes eligible to participate in benefit plans or otherwise receive employer-provided
benefits substantially similar to those provided for in this Agreement as a result of the Officer’s employment during the period that the Officer is entitled to such fringe benefits. The Officer must provide prompt notice to the Company upon
acceptance of any subsequent employment that may impose an offset under this Section 9(f). 

  

	 	9(g)	Change in Control. 

  

	 	(g)(i)	Qualifying CIC Termination: If, during the CIC Provisions Effective Period, the Officer is terminated under conditions constituting a Qualifying CIC Termination, the
Company shall: 

  

	 	(i)(A)	pay or provide to the Officer, as the case may be, the Accrued Obligations; 

  

	 	(i)(B)	 pay to the Officer a lump sum amount equal to two (2) multiplied by the sum of the following: (1) an amount equal to the Officer’s Base
Salary at the rate in effect immediately prior to such Qualifying CIC Termination or, if higher, as in effect immediately prior to the Change in Control, (2) an amount equal to the annual bonus paid or payable for the prior fiscal year under
the Executive Bonus plan, and (3) an amount equal to the Value of all equity awards granted in the prior calendar

  

 11 

	 	 
year. The “Value” of an equity award shall be determined as follows: (i) the “Value” of an equity award made pursuant to the LTIP shall be equal to the prior
calendar year equity award grant expense calculated for US GAAP purposes for such grant awarded to the Officer, and (ii) the “Value” of any other equity-based awards granted to the Officer shall be determined in a manner
consistent with the foregoing, based on the fair market value of the underlying stock as of the last day of such prior calendar year. 

  

	 	(i)(C)	If the Officer is, on the Date of Termination, covered by a group health plan as defined in Section 4980B of the Code, and the Company would be required to provide
continued health care coverage pursuant to Section 4980B of the Code for the Officer, and, where applicable, the Officer’s spouse and dependents, then the Company shall provide for the direct payment to the carrier for the premium costs
for such continued health care coverage for the Officer, and, where applicable, the Officer’s spouse and dependents, under the Company’s group medical benefit plan, for twelve (12) months following the Qualifying CIC Termination.

  

	 	(i)(D)	Notwithstanding anything in this Agreement to the contrary, if the Officer is eligible for any payment under Section 9(e) of this Agreement as well as under this
Section 9(g)(i), then the Officer shall be paid only amounts under this Section 9(g)(i) and any potential payments under Section 9(e) shall be disregarded. 

  

	 	(g)(ii)	 Vesting Upon a Change in Control: Immediately upon a Change in Control, any equity awards subject to vesting that have been granted to the Officer
under the Company’s equity incentive plans and that are not fully vested shall become fully vested and, in the case of stock options, shall become immediately exercisable, and the Officer shall be entitled, in the case of such stock options, to
exercise such stock options until the earlier of the expiration of their original full term or one year from

  

 12 

	 	 
the Date of Termination (in each case, without regard to any earlier termination otherwise applicable in the event of termination of employment, and to the extent permitted by Section 409A
of the Code). 

  

	 	(g)(iii)	“Change in Control” shall mean: 

  

	 	(iii)(A)	 the acquisition, directly or indirectly, by any “person” or “group” (as those terms are defined in Sections 3(a)(9), 13(d), and
14(d) of the Exchange Act and the rules thereunder) of “beneficial ownership” (as determined pursuant to Rule 13d-3 under the Exchange Act) of securities entitled to vote generally in the election of directors (“voting
securities”) of the Company that represent 30% or more of the combined voting power of the Company’s then outstanding voting securities, other than (A) an acquisition by a trustee or other fiduciary holding securities under any
employee benefit plan (or related trust) sponsored or maintained by the Company or any person controlled by the Company or by any employee benefit plan (or related trust) sponsored or maintained by the Company or any person controlled by the
Company, or (B) an acquisition of voting securities by the Company or a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of the stock of the Company, or
(C) an acquisition of voting securities pursuant to a transaction described in clause (iii) below that would not be a Change in Control under clause (iii); provided, however, that neither of the following events shall
constitute an “acquisition” by any person or group for purposes of this clause (i): (x) a change in the voting power of the Company’s voting securities based on the relative trading values of the Company’s then outstanding
securities as determined pursuant to the Company’s Certificate of Incorporation, or (y) an acquisition of the Company’s securities by the Company which, either alone or in combination only with the other event, causes the
Company’s voting securities beneficially owned by a person or group to

  

 13 

	 	 
represent 30% or more of the combined voting power of the Company’s then outstanding voting securities; provided, further, however, that if a person or group shall become the beneficial
owner of 30% or more of the combined voting power of the Company’s then outstanding voting securities by reason of share acquisitions by the Company as described above and shall, after such share acquisitions by the Company, become the
beneficial owner of any additional voting securities of the Company, then such ownership of additional voting securities shall constitute a Change in Control; 

  

	 	(iii)(B)	individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the
Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then
comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened
election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board; 

  

	 	(iii)(C)	 the consummation by the Company (whether directly involving the Company or indirectly involving the Company through one or more intermediaries) of
(x) a merger, consolidation, reorganization, or business combination or (y) a sale or other disposition of all or substantially all of the Company’s assets or (z) the acquisition of assets or stock of another entity, in each
case, other than a transaction (A) which results in the Company’s voting securities outstanding immediately before the transaction continuing to represent (either by remaining

  

 14 

	 	 
outstanding or by being converted into voting securities of the Company or the person that, as a result of the transaction, controls, directly or indirectly, the Company or owns, directly or
indirectly, all or substantially all of the Company’s assets or otherwise succeeds to the business of the Company (the Company or such person, the “Successor Entity”)) directly or indirectly, at least 30% of the combined voting
power of the Successor Entity’s outstanding voting securities immediately after the transaction, and (B) after which more than 30% of the members of the board of directors of the Successor Entity were members of the Incumbent Board at the
time of the Board’s approval of the agreement providing for the transaction or other action of the Board approving the transaction, and (C) after which no person or group beneficially owns voting securities representing 30% or more of the
combined voting power of the Successor Entity; provided, however, that no person or group shall be treated for purposes of this clause (C) as beneficially owning 30% or more of combined voting power of the Successor Entity solely
as a result of the voting power held in the Company and the other entity prior to the consummation of the transaction; or 

  

	 	(iii)(D)	a liquidation or dissolution of the Company. 

 For purposes of clause (A) of this definition of Change in Control, the calculation of voting power shall be made as if the date of the acquisition were a record date for a vote of the Company’s
shareholders, and for purposes of clause (C) of this definition of Change in Control, the calculation of voting power shall be made as if the date of the consummation of the transaction were a record date for a vote of the Company’s
shareholders. 
  

	 	(g)(iv)	“CIC Period” means the period beginning on the date an event that constitutes a Change in Control occurs and ending on the first anniversary of such
date. 

  

 15 

	 	(g)(v)	“Qualifying CIC Termination” shall mean: 

  

	 	(v)(A)	during the CIC Period, the termination of the Officer’s employment by the Company without Cause or the termination of the Officer’s employment by the Officer
for a CIC Good Reason; or 

  

	 	(v)(B)	the occurrence of the following: (1) prior to a Change in Control, the termination of the Officer’s employment by the Company without Cause or the termination
of the Officer’s employment by the Officer for a CIC Good Reason, (2) the Officer reasonably demonstrates that such termination (or CIC Good Reason event) was the result of a third party who had indicated an intention or taken steps
reasonably calculated to effect a Change in Control, and (3) a Change in Control involving such third party (or a party competing with such third party to effectuate a Change in Control) occurs within six (6) months from the date of such
termination. 

  

	 	(g)(vi)	CIC Release. Notwithstanding any provision of this Agreement to the contrary, the Company’s obligations, including but not limited, to all payments and
benefits pursuant to this Section 9(g), shall be conditioned upon the Officer’s execution and the irrevocability of a release in substantially the form attached hereto as Exhibit A (the “CIC Release”). All cash payments
pursuant to this Section 9(g) will be paid on the sixtieth (60th) day following the Date of Termination, provided that the CIC Release becomes irrevocable by such sixtieth (60th) day. The Company shall provide the CIC Release
to the Officer within five days of the Officer’s Date of Termination. 

  

	 	(g)(vii)	 “CIC Good Reason” shall mean the continued failure of the Company to cure within thirty (30) days after written notice describing
the nature of such continued failure has been given to the Company by the Officer within ninety (90) days of the occurrence of any of the following: (i)

  

 16 

	 	 
the Company’s failure to perform or observe any of the material terms or provisions of this Agreement; (ii) a material reduction in the scope of the Officer’s responsibilities and
duties for the Company or the Subsidiary; (iii) the relocation of Officer’s employment to a facility or a location more than thirty (30) miles from Officer’s then present location and more than thirty (30) miles from the
Officer’s then present residence, without the Officer’s consent; or (iv) a material reduction (being defined as more than 20%) in the Officer’s Base Salary including, without limitation, any material reduction that is made
pursuant to the last paragraph of Section 5(a). 

  

	 	(g)(viii)	 Except as otherwise provided in this Section 9(g) and notwithstanding any provision of the Agreement to the contrary, this Section 9(g) and
Section 21 shall be effective for the period commencing as of the Effective Date and ending on the fifth (5th
) anniversary of the Effective Date (such period, the “CIC Provisions Effective Period”); provided, however, that in each calendar year following 2010, the CIC
Provisions Effective Period shall be automatically extended for an additional full year. This Section 9(g) and Section 21 shall terminate and be of no further force or effect prior to the expiration of the CIC Provisions Effective Period
upon a termination of the Officer’s employment with the Company and the Subsidiary if such termination does not constitute a Qualifying CIC Termination. If the Officer’s termination of employment with the Company and the Subsidiary
constitutes a Qualifying CIC Termination, this Section 9(g) and Section 21 shall remain effective until full payment of any and all amounts under Section 9(g)(i) and Section 21, and full provision of any and all benefits under
Section 9(g)(i), has been made. 

  

 17 

	10.	Notices. 

 All
notices, demands, requests or other communications required or permitted to be given or made hereunder shall be in writing and shall be delivered, telecopied or mailed by first class registered or certified mail, postage prepaid, addressed as
follows: 
  

	 	10(a)	If to the Company: 

  

			
	Central European Distribution Corporation
	 ul. Bobrowiecka 6
 00-728 Warsaw, Poland

	Telecopier:	  	48 22 488 34 10
	Attention:	  	James Archbold
		  	Vice President, Secretary and Director of Investor Relations or
		
		  	William V. Carey
		  	President
		  	Bokserska 66A
		  	02-690 Warsaw (Poland)

  

	 	10(b)	If to the Officer: 

 Christopher
Biedermann 
 [Insert Address] 
 Or to such other address as may be designated by either party in a notice to the other. Each notice, demand, request or other communication that shall be given or made in the manner described above shall
be deemed sufficiently given or made for all purposes at such time as it is delivered to the addressee (with the return receipt, the delivery receipt, the answer back or the affidavit of messenger being deemed conclusive evidence of such delivery)
or at such time as delivery is refused by the addressee upon presentation. 
  

	11.	Severability. 

 The
invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of the other provisions of this Agreement, which shall remain in full force and effect. 
  

	12.	Survival. 

 It is
the express intention and agreement of the parties hereto that the provisions of Sections 7 hereof shall survive the termination of employment of the Officer. In addition, all obligations of the Company to make payments hereunder shall survive any
termination of this Agreement on the terms and conditions set forth herein. 
  

 18 

	13.	Assignment. 

 The
rights and obligations of the parties to this Agreement shall not be assignable, except that the rights and obligations of the Company hereunder shall be assignable in connection with any subsequent merger, consolidation, sale of all substantially
all of the assets of the Company or similar reorganization of a successor corporation. The Company shall be obligated, upon a Change in Control, to assign all obligations and rights under this Agreement to any successor in interest to the Company
and to have such successor in interest assume such obligations and rights. 
  

	14.	Binding Effect. 

 Subject to any provisions hereof restricting assignment, this Agreement shall be binding upon the parties hereto and shall inure to the benefit of the parties and their respective heirs, devisees, executors, administrators, legal
representatives, successors and assigns. 
  

	15.	Amendment Waiver. 

 This Agreement shall not be amended, altered or modified except by an instrument in writing duly executed by the parties hereto. Neither the waiver by either of the parties hereto of a breach of or a default under any of the provisions of
this Agreement, nor the failure of either of the parties, on one or more occasions, to enforce any of the provisions of this Agreement or to exercise any right or privilege hereunder, shall thereafter be construed as a waiver of any subsequent
breach or default of a similar nature, or as a waiver of any such provisions, rights or privileges hereunder . 
  

	16.	Headings. 

 Section
and subsection headings contained in this Agreement are inserted for convenience of reference only, shall not be deemed to be a part of this Agreement for any purpose, and shall not in any way define or affect the meaning, construction or scope of
any of the provisions hereof. Any reference herein to a “Reserved” provision shall not have any meaning for purposes of interpreting the terms or provisions of this Agreement. 
  

	17.	Governing Law. 

 This Agreement, the rights and obligations of the parties hereto, and any claims or disputes relating thereto, shall be governed by and construed in accordance with the laws of the State of Delaware (but not including the choice of law
rules thereof). 
  

 19 

	18.	Action of Behalf of the Subsidiary. 

 The Company is executing this Agreement also on behalf of its Subsidiary and agrees to cause the Subsidiary to fulfill its obligations hereunder, through the appointment and removal, if necessary, of
members of the management board of the Subsidiary. 
  

	19.	Entire Agreement. 

 This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof, and it supersedes all prior oral or written agreements, commitments or understandings with respect to the matters provided
for herein, including the Prior Employment Agreement and the 2005 Employment Agreement. 
  

	20.	Counterparts. 

 This Agreement may be executed in two or more counterparts, each of which shall be an original and all of which shall be deemed to constitute one and the same instrument. 
  

	21.	Parachute Tax. 

 Anything in this Agreement to the contrary notwithstanding, if it shall be determined that any payment, award, benefit or distribution by the Company (or any of its affiliated entities) or by any entity which effectuates a Change of Control
(or any of its affiliated entities) to or for the benefit of the Officer (whether pursuant to the terms of this Agreement or otherwise) (each a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code
or any corresponding provisions of state or local tax laws, or any interest or penalties with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the “Excise
Tax”), and if it shall also be determined that, by reducing the Payments to a present value (as calculated in accordance with Section 280G of the Code) that is one dollar less than the Safe Harbor Amount (as hereinafter defined), the
Officer would receive a larger after-tax benefit from the Payments than if such reduction had not occurred, the Payments shall be reduced so as to have a present value that is one dollar less than the Safe Harbor Amount. The reduction of the amounts
payable hereunder, if applicable, shall be made by first reducing the payments or benefits provided under Section 9(g)(i) before reducing the other payments under this Agreement or otherwise; thereafter any such reduction shall be made to other
cash payments to which the Officer is entitled. For purposes of this Section 21, “Safe Harbor Amount” shall mean the

  

 20 

 
greatest amount that could be paid to the Officer such that the receipt of Payments would not give rise to any Excise Tax. All determinations required to be made under this Section 21 shall
be made by the public accounting firm that is retained by the Company as of the date immediately prior to the Change in Control (the “Accounting Firm”), which shall provide detailed supporting calculations both to the Company and
the Officer within fifteen (15) business days of the receipt of notice from the Officer that there has been a Payment, or such earlier time as is requested by the Company. All fees and expenses of the Accounting Firm shall be borne solely by
the Company. 
  

	22.	Section 409A. 

 It
is intended that this Agreement will comply with Section 409A of the Code, to the extent the Agreement is subject thereto, and the Agreement shall be interpreted on a basis consistent with such intent. If an amendment of the Agreement is
necessary in order for it to comply with Section 409A of the Code, the parties hereto will negotiate in good faith to amend the Agreement in a manner that preserves the original intent of the parties to the extent reasonably possible.
Notwithstanding any provision to the contrary in this Agreement, and except as otherwise provided in this Agreement, if a payment or benefit is to be paid upon the Officer’s Date of Termination or termination, then such payment shall be delayed
until the Officer has experienced a “separation from service” (as such term is defined under Section 409A of the Code); provided, however, that if a payment or benefit is considered to be a deferral of compensation subject to
Section 409A of the Code and the Officer is deemed to be a “specified employee” within the meaning of that term under Section 409A(a)(2)(B) of the Code, then with regard to any payment or the provisions of any benefit that is
required to be delayed pursuant to Section 409A(a)(2)(B) of the Code, such payment or benefit shall not be made or provided prior to the earlier of (i) the expiration of the six (6)-month period measured from the date of the Officer’s
“separation from service” (as such term is defined in U.S. Treasury Regulations issued under Section 409A of the Code), or (ii) the date of the Officer’s death (the “Delay Period”). As soon as practicable
following the expiration of the Delay Period, all payments and benefits delayed pursuant to this Section 22 (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or
reimbursed to the Officer in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. Notwithstanding the foregoing, to the extent
that the foregoing applies to the provision of any ongoing welfare benefits to the Officer that would

  

 21 

 
not be required to be delayed if the premiums therefore were paid by the Officer, the Officer shall pay the full costs of premiums for such welfare benefits during the Delay Period and the
Company shall pay the Officer an amount equal to the amount of such premiums paid by the Officer during the Delay Period within thirty (30) days after the conclusion of such Delay Period. 
 IN WITNESS WHEREOF, the undersigned have duly executed this Agreement, or have caused this Agreement to be duly executed on their behalf, as of the day and
year first hereinabove written. 
 CENTRAL EUROPEAN DISTRIBUTION CORPORATION 
 By: 
  

	
	 /s/ William V. Carey

	Name: William V. Carey
	Title: Chairman, President and CEO

  

	
	 /s/ Christopher Biedermann

	Name: Christopher Biedermann
	Title: The Officer

  

 22 

 EXHIBIT A 
 TO THE 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 BETWEEN 
 CENTRAL EUROPEAN DISTRIBUTION CORPORATION, INC. 
 AND 
 CHRISTOPHER BIEDERMANN 
 GENERAL RELEASE AND WAIVER AGREEMENT1 
 This
General Release and Waiver Agreement (the “Agreement”) is made as
of                    ,        by and between Christopher Biedermann (the “Officer”) and
Central European Distribution Corporation, Inc., a Delaware corporation (together with all of its subsidiaries and affiliated entities, collectively hereinafter referred to as “Company”). 
 I. TERMINATION OF EMPLOYMENT 
 The parties acknowledge that the Officer terminated his employment with the Company effective [list date] and that such termination constituted a Qualifying CIC Termination as defined in Section 9(g)(v) of the Amended and
Restated Employment Agreement between Central European Distribution Corporation, Inc. and the Officer, dated as of January 1, 2010 (the “Employment Agreement”). 
 II. CONSIDERATION 
 As consideration for Officer’s entering into and
abiding by this Agreement, (i) the Company will pay and provide to the Officer the amounts and benefits specified in Section 9(g)(i) and (ii) of the Employment Agreement (all such amounts and benefits the “Aggregate Severance
Payments”). The parties agree that the Aggregate Severance Payments are in excess of any payments or benefits to which Officer may otherwise be entitled from the Company and its subsidiaries and affiliated entities. 
 III. COMPLETE RELEASE 
 Officer, for Officer and Officer’s predecessors, successors, assigns, and heirs, hereby discharges and releases Company and, as applicable, each of the Company’s predecessors, representatives, the Company’s present or former
officers, directors, employees, stockholders, affiliates, insurers, successors and assigns, from all claims or demands Officer may have based on Officer’s employment with Company or the termination of that employment. This includes a release of
any rights or claims Officer may have based on any facts or events, whether known or unknown by the Officer that occurred on or before the effective date of this Agreement or events that are contemplated by this Agreement, including, without
limitation, a release of any rights or claims Officer may have based on (i) the following United States laws: the Civil Rights Acts of 1964, as amended; the Age Discrimination in Employment Act of 1967, as amended; the Americans with
Disabilities Act of 1990; the Rehabilitation Act of 1973; the Equal Pay Act of 1963; or the Employee Retirement Income Security Act of 1974, as amended; (ii) applicable laws of the states of the United States concerning wages, employment and
discharge; (iii) claims arising out of any legal restrictions of the right to terminate Officer such as wrongful or unlawful discharge or related causes of action; (iv) intentional infliction of emotional distress or any other tortious
conduct; and/or (v) violations of any contract or promise express or implied. No reference to the aforementioned causes of action or claims is intended to limit the scope of this Agreement. Notwithstanding the foregoing, the Officer does not
hereby release any rights or claims with respect to the period following the effective date of this Agreement. 
  
  

	1	 Provisions of Agreement should be modified to comply with legal requirements and customs under non-U.S. law. 

  

 23 

 IV. PERIOD FOR REVIEW AND CONSIDERATION OF AGREEMENT 
 Officer confirms that Officer is over the age of 40 and has been given twenty-one (21) days [or forty-five (45) days if applicable
under ADEA] to review and consider this Agreement before signing it. 
 [If forty-five (45) day period applies, additional information will
be attached as required by ADEA.] 
 V. ENCOURAGEMENT TO CONSULT WITH AN ATTORNEY 
 Officer is encouraged, at Officer’s own expense, to consult with an attorney before signing this Agreement. 
 VI. OFFICER’S RIGHT TO REVOKE AGREEMENT 
 If this Agreement is signed by Officer and returned to Company within the time specified in Section IV, Officer may revoke this Agreement within seven (7) calendar days of the date of the
Officer’s signature. Revocation can be made by delivering a written notice of revocation to the Company. For this revocation to be effective, written notice must be received no later than the close of business on the seventh (7th) calendar
day (or next business day thereafter) after the Officer signs this Agreement. If the Officer revokes this Agreement, it shall not be effective or enforceable and Officer will not receive the payments described in Section II. Notices for the purposes
of this paragraph shall be effective if delivered personally, or by certified mail to the following address (or such other address as Officer shall notify Company, or Company shall notify Officer (as the case may be), in each case in writing):

  

									
	Officer:	 	Christopher Biedermann	 		 	Company:	 	Central European Distribution Corporation, Inc.
			
	[Officer’s Address]	 		 	[Company’s Address]
		 		 		 	Attention:	 	[Company Representative]

 VII. SEVERABILITY AND
JUDICIAL RESTATEMENT 
 Officer and Company agree that the provisions of this Agreement are severable and divisible. In the
event any portion of this Agreement is determined to be illegal or unenforceable, the remaining provisions of this Agreement shall remain in full force and effect. 
 VIII. TAXES 
 Officer is responsible for any tax liability associated with
payments provided under this Agreement. Company has the right to withhold taxes from such payments to the extent required by law. 
 IX.
MISCELLANEOUS 
 This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware,
without reference to principles of conflict of laws thereunder. 
 The captions of this Agreement are not part of the provisions
hereof and shall not have any force or effect. 
  

 24 

 This Agreement may not be amended or modified otherwise than by a written agreement executed
by the parties hereto or their respective successors and legal representatives. 
 Nothing contained in this Agreement is
intended to be, or shall be construed to be, an admission of any liability by any party or an admission of the existence of any facts upon which liability could be based. 
 Officer acknowledges and represents that Officer has voluntarily executed this Agreement. 
 This Agreement shall not be assignable, except that in the event of the death of Officer while amounts or benefits are still due hereunder, any remaining payments due as described in Section II hereof shall be paid to Officer’s estate.

 X. EFFECTIVE DATE OF AGREEMENT 
 The effective date of this Agreement shall be seven (7) calendar days after the date this Agreement is signed and dated by Officer. If the Agreement is not dated by Officer then, in that event, the
effective date of this Agreement shall be seven (7) calendar days after receipt of the signed Agreement by Company. 
 PLEASE READ
CAREFULLY. THIS AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS TO THE DATE OF THIS AGREEMENT INCLUDING THOSE PURSUANT TO THE AGE DISCRIMINATION IN EMPLOYMENT ACT, AS AMENDED, AND OTHER LAWS PROHIBITING DISCRIMINATION IN EMPLOYMENT.
OFFICER ACKNOWLEDGES THAT OFFICER HAS READ THIS AGREEMENT, UNDERSTANDS IT AND IS VOLUNTARILY ENTERING INTO IT. 
  

			
	CENTRAL EUROPEAN DISTRIBUTION CORPORATION, INC.
		
	By:	 	  

		
	Datet:	 	  

  

			
	
	  
	Christopher Biedermann
		
	Date:	 	  

  

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