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EXHIBIT 10.31.2  

 
 

AMENDMENT NUMBER ONE TO
  THE COCA-COLA COMPANY BENEFITS PLAN
  FOR MEMBERS OF THE BOARD OF DIRECTORS    
    

        THIS AMENDMENT to The Coca-Cola Company Benefits Plan for Members of the Board of Directors (the "Plan") is adopted by The Coca-Cola
Company Benefits Committee (the "Committee"). 

W I T N E S S E T H:  

        WHEREAS, the Plan was previously amended by instrument dated April 15, 2003 in order to address the use and disclosure of protected health information; and 

        WHEREAS,
Section 6.01 of the Plan provides that the Committee may amend the Plan at any time; and 

        WHEREAS,
the Committee wishes to amend the Plan in order to correct a typographical error and to clarify certain information that is not considered to be protected health information. 

        NOW,
THEREFORE, the Committee hereby amends the Plan as follows, effective as of the dates specified herein: 

        Effective
January 1, 2006, Section 9.04 shall be restated in its entirety to read as follows: 

        "9.04    Establishment and Maintenance of Adequate Separation between the Company and Plan.    In accordance with the
requirements of HIPAA, only the employees/classes of employees identified by the Committee or its delegate, as set forth in a separate written document maintained by the Committee or
its delegate, will be given access to PHI to be used or disclosed. Such designated persons will only have access to and use PHI for purposes of Plan administration functions that the Company performs
for the Plan. Notwithstanding the amendment provisions of this Plan, the Committee or its delegate is hereby granted authority to amend the designated persons document from time to time as necessary
to facilitate payment or health care operations of the Plan. Any such amendment to the designated persons may apply prospectively or retroactively." 

        IN
WITNESS WHEREOF, the Committee has adopted this Amendment Number One on the date shown below, but effective as of the dates indicated above. 

	 	 	The Coca-Cola Company Benefits Committee
	

 	
 	

By:	
 	

/s/  BARBARA S. GILBREATH      

	

 	
 	

Date:	
 	

December 16, 2005

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AMENDMENT NUMBER ONE TO THE COCA-COLA COMPANY BENEFITS PLAN FOR MEMBERS OF THE BOARD OF DIRECTORSEXHIBIT 10.40  

[LETTERHEAD OF THE COCA-COLA COMPANY]  

January 4,
2006 

Mr. Tom
Mattia 

Dear
Tom, 

        As
we discussed, we are delighted to offer you the position of Senior Vice President, Public Affairs and Communications at The Coca-Cola Company. The following provides
details of the employment offer to you: 

 Compensation  

	•
	Your
base salary will be $32,500 on a monthly basis, which when annualized is $390,000.

	•
	You
will be eligible to participate in the Company's annual incentive program. This important element of your total compensation plan is based on both individual performance
and the financial performance of the Company. Your incentive target is eighty-five percent (85%) of your base salary. For 2006, your incentive target will be at the 85% level, prorated for
the number of months you are participating in the plan and paid on total company performance for the year. Annual incentives are paid in the first quarter of the year following the plan
year—for example, 2006 awards will be paid 1st quarter 2007.

	•
	You
will be recommended for participation in the Company's long-term incentive program for the performance period that begins January 1, 2007. The
Compensation Committee of the Board of Directors must approve your participation in this Plan and will do so at a Board meeting following your employment. The target value of your
long-term incentive award under this program will be approximately $1,265,000. This value may be revised from time to time and will be delivered in a combination of stock options and
performance share units. 

 Relocation  

	•
	Given
that this position will be located at the Company's offices in Atlanta, Georgia, you will be eligible to participate in the Company's relocation program. Our
relocation services include assistance with house hunting, home sale and purchase, and movement of household items. In addition, you will receive 6 months of temporary living in a furnished
apartment, and trips to Dallas every second weekend to visit your family. However, if you wish to have your family visit you in Atlanta, instead of traveling to Dallas, we would provide travel support
for up to 3 visits. In the coming weeks, you will receive a call from Linda Straw, your relocation contact
(cell:                                        
                                   and
office:                                        
                                   ), and she will help you and your family
with the relocation to Atlanta. 

 Make Whole Compensation  

	•
	To
recognize your loss of 2005 incentive from your current employer, you will receive a one-time signing bonus equal to $195,000 gross, upon your start date. If
you should voluntarily terminate your employment or be terminated for cause prior to December 31, 2007; you will reimburse the Company a pro-rata portion of the signing bonus.

	•
	Additionally,
a recommendation for a special one-time stock option grant of 45,000 options will be made for you at a meeting of the Compensation Committee of the
Company's Board of Directors following your employment. This special one-time stock option award will be granted to you to replace the value of unvested stock options that you will be
forfeiting upon leaving your current employer. 

 

	•
	To
recognize the value of the restricted stock from your current employer that will be forfeited, you will receive a cash buyout of $445,000 gross to be paid in three equal
amounts on December 31, 2006 ($150,000); December 31, 2007 ($150,000); and December 31, 2008 ($145,000); provided you are actively employed with the Company on the date of
payment. Should you voluntarily terminate your employment or be terminated for cause prior to the payment dates, the remaining balance(s) will be forfeited.

	•
	To
recognize the forfeited service value in your current retirement plan, the Company will make special one-time payments to your Deferred Compensation account
at certain intervals, provided you are actively employed: $55,000 on July 31, 2006; $55,000 on December 31, 2007; and $50,000 on December 31, 2008. Should you terminate your
employment for any reason prior to the payment dates, the remaining balance(s) will be forfeited. 

 Stock Ownership  

	•
	Lastly,
as a member of the senior leadership team, you will be expected to own 20,000 shares of Company stock. As part of the Company's ownership expectations, you will have
up to five years to achieve this level of ownership. 

 Perquisites and Benefits  

	•
	In
accordance with Company policy, you will be eligible for Company-paid membership and reimbursement of dues and initiation fees associated with one country
club, social club or similar club as long as the club use is for ordinary and necessary business purposes. You will be required to track and report any personal use of the Company-paid
club membership and dues. Club use that is personal is considered taxable income to the associate.

	•
	You
will be eligible for domestic and international first class business travel in accordance with Company policy.

	•
	The
Company provides a comprehensive Benefits Program that will be forwarded to you in a separate package. In addition, we will provide an orientation to your benefits
coverage after you begin employment.

	•
	Following
your employment, a recommendation will be made at a meeting of the Board of Directors, that you will be elected an officer of the Company and a member of the
Executive Committee. 

        Tom,
I am very much looking forward to having you join The Coca-Cola Company. I know that you will be a terrific addition to our team and that you will make a real difference
on this journey to create a sustainable growth business at The Coca-Cola Company. 

	 	 	Sincerely,
	

 	
 	

/s/  NEVILLE ISDELL      

	

 	
 	

Neville Isdell

Chairman and Chief Executive Officer
	

Accepted:	
 	

 	
 	

 
	

 	
 	

Date:	
 	

 
	
	 	 	 	

        This
offer is contingent upon our mutual agreement that this is the right opportunity for you and The Coca-Cola Company. This offer will remain open for your acceptance until
January 15, 2006 and anticipates your becoming an employee no later than February 16, 2006. 

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Exhibit 10.1  

 
 

BANCORP HAWAII, INC.
  KEY EXECUTIVE SEVERANCE PLAN    
    

        l.      Purpose.    The
purpose of this Plan, which takes effect as of April 27, 1983, is to assure Bancorp Hawaii, Inc. ("Bancorp") that it will have the
continued dedication of, and the availability of objective advice and counsel from, key executives of Bancorp and its subsidiary, Bank of Hawaii, notwithstanding the possibility or occurrence of a bid
to take over control of Bancorp. In the event that Bancorp receives any such bids, the Board of Directors believes it imperative that Bancorp and its shareholders be able to rely upon such key
executives to continue in their positions so that business will be unaffected and such key executives will be available to advise, if asked, as to whether such bids would be in the best interests of
Bancorp and its shareholders, and to take such actions as the Board might deem appropriate, without concern that those individuals might be distracted by the personal uncertainties and risks created
by such a bid. 

        2.     Plan
Participants.    Participants under this Plan shall consist of those executives of Bancorp and its subsidiary, Bank of Hawaii (the "Bank"), who are from
time to time designated by the Board of Directors (acting on the advice of the Compensation Committee of the Board) as "key executives" to be included within this Plan. A Participant whom the Board
determines has ceased to be a "key executive" for purposes of this Plan shall cease to be a Participant in the Plan when notified in writing by the Board of such determination; provided, however, a
determination that a Participant has ceased to be such a key executive may not be made, and if made shall have no effect, (i) during any period of time when Bancorp has knowledge that any third
party has taken steps reasonably calculated to effect a Change of Control (as defined herein) until, in the opinion of the Board, such third party has abandoned or terminated its efforts to effect a
change of control or (ii) within two years after a Change of Control. 

        3.     Severance
Agreements.    A Severance Agreement shall be executed by Bancorp and each Participant and shall provide for the following benefits in the event of
termination of the Participant's employment with Bancorp or the Bank for any reason (whether voluntary or involuntary, other than as a consequence of death, disability, or retirement at or after the
normal retirement date under the Employees' Retirement Plan of Bank of Hawaii (the "Retirement Plan")) within two years after a Change of Control: (i) a cash payment will be mace in an amount
equal to three times the Participant's highest compensation (consisting of salary, bonuses and incentive compensation) paid or payable for any 12 consecutive month period during the three years
immediately preceding such termination; (ii) special, unfunded, nonqualified retirement benefits for those Participants who would have qualified for benefits under the Retirement Plan if they
had remained in the employ of Bancorp or the Bank for an additional period of three years; (iii) other fringe benefits which the Executive received immediately prior to such termination will be
continued, or equivalent benefits will be provided, for a period of three years following termination; and (iv) such other arrangements will be made as the Board of Directors deems appropriate. 

        4.     Options
and Rights.    In the event of a Change of Control of Bancorp, outstanding stock options and stock appreciation rights, if any, will become immediately
exercisable for a period of 30 days following the date of such Change of Control. 

        5.     Additional
Terms.    The Severance Agreement to be entered into pursuant to this Plan may contain such other terms and conditions not inconsistent with this
Plan as shall be determined by the Board of Directors. 

        6.     Non-Assignability.    Each
Participant's rights under this Plan shall be non-transferable except by will or the laws of descent and
distribution. 

1

 

        7.     Definition
of Change of Control.    A "Change of Control" shall be deemed to have taken place if: (i) any person, including a "group" as defined in
Section 13(d)(3) of the Securities Exchange Act of 1934, becomes the beneficial owner of shares of stock of Bancorp having 25% or more of the total number of votes that may be cast for the
election of directors of Bancorp; or (ii) as a result of, or in connection with, any cash tender or exchange offer, merger or other business combination, sale of assets or contested election,
or any combination of the foregoing transactions, the persons who were directors of Bancorp before the transaction shall cease to constitute a majority of the Board of Directors of Bancorp or any
successor to Bancorp; or (iii) a majority of the Board of Directors determines in good faith that a "Change of Control" is imminent. 

        8.     Plan
Funding.    The Plan shall not be funded. Neither Bancorp nor the Board of Directors shall be required to segregate any assets with respect to benefits
under the Plan. Neither Bancorp nor the Directors shall be deemed to be a trustee of any amounts to be paid under the Plan. Any liability of Bancorp to any Participant with respect to any benefit
shall be based solely upon any contractual obligations created by the Plan and the related Severance Agreement, and no obligation under the Plan shall be deemed to be secured by any pledge or any
encumbrance on any property of Bancorp, the Bank, or any subsidiary of either. 

        9.     Termination
and Amendment of this Plan.    The Board of Directors of Bancorp shall have power at any time, in its discretion, to amend or terminate this Plan,
in whole or in part; provided, however, that no amendment or termination shall alter the obligations of Bancorp under any Severance Agreement previously entered into pursuant to this Plan. 

2

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BANCORP HAWAII, INC. KEY EXECUTIVE SEVERANCE PLAN

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