Document:

Supplemental Savings Incentive Plan

 Exhibit 10.19 
 COCA-COLA BOTTLING CO. CONSOLIDATED 
 SUPPLEMENTAL SAVINGS INCENTIVE PLAN 
 (AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2005) 

 Table of Contents 
  

							
	 	 	 	 	 	  	Page
	 ARTICLE I DEFINITIONS
	  	1
		 	 1.1
	 	 Adjustment Date
	  	1
		 	 1.2
	 	 Affiliate
	  	1
		 	 1.3
	 	 Authorized Leave of Absence
	  	1
		 	 1.4
	 	 Beneficiary
	  	1
		 	 1.5
	 	 Bonus Deferral Election
	  	1
		 	 1.6
	 	 Board
	  	1
		 	 1.7
	 	 Change in Control
	  	2
		 	 1.8
	 	 Class Year Deferral
	  	3
		 	 1.9
	 	 Code
	  	4
		 	 1.10
	 	 Committee
	  	4
		 	 1.11
	 	 Company
	  	4
		 	 1.12
	 	 Deferral Election
	  	4
		 	 1.13
	 	 Deferred Retirement
	  	4
		 	 1.14
	 	 Disability Retirement-Regular
	  	4
		 	 1.15
	 	 Disability Retirement-Special
	  	4
		 	 1.16
	 	 Early Retirement-Regular
	  	5
		 	 1.17
	 	 Early Retirement-Special
	  	5
		 	 1.18
	 	 Earnings
	  	5
		 	 1.19
	 	 Effective Date
	  	5
		 	 1.20
	 	 Employee
	  	5
		 	 1.21
	 	 ERISA
	  	5
		 	 1.22
	 	 Fixed Benefit Option Account
	  	5
		 	 1.23
	 	 Investment Option
	  	5
		 	 1.24
	 	 Investment Subaccount
	  	5
		 	 1.25
	 	 Net Gain (Loss) Equivalent
	  	6
		 	 1.26
	 	 Normal Retirement
	  	6
		 	 1.27
	 	 Normal Retirement Age
	  	6
		 	 1.28
	 	 Participant
	  	6
		 	 1.29
	 	 Participating Company
	  	6
		 	 1.30
	 	 Plan
	  	7
		 	 1.31
	 	 Plan Administrator
	  	7
		 	 1.32
	 	 Plan Year
	  	7
		 	 1.33
	 	 Post-2005 Company Contributions
	  	7
		 	 1.34
	 	 Post-2005 Company Contribution Subaccount
	  	7
		 	 1.35
	 	 Post-2005 Deferrals
	  	7
		 	 1.36
	 	 Post-2005 Deferral Subaccount
	  	7
		 	 1.37
	 	 Post-2005 Discretionary Contributions
	  	7
		 	 1.38
	 	 Post-2005 Discretionary Contribution Subaccount
	  	7
		 	 1.39
	 	 Post-2005 Matching Contributions
	  	7
		 	 1.40
	 	 Post-2005 Matching Contribution Subaccount
	  	8
		 	 1.41
	 	 Post-2005 Supplemental Account
	  	8
		 	 1.42
	 	 Pre-2006 Company Contributions
	  	8
		 	 1.43
	 	 Pre-2006 Company Contribution Subaccount
	  	8

  

 i 

							
		 	1.44	 	 Pre-2006 Deferrals
	  	8
		 	 1.45
	 	 Pre-2006 Deferral Subaccount
	  	8
		 	 1.46
	 	 Pre-2006 Discretionary Contributions
	  	8
		 	 1.47
	 	 Pre-2006 Discretionary Contribution Subaccount
	  	8
		 	 1.48
	 	 Pre-2006 Matching Contributions
	  	9
		 	 1.49
	 	 Pre-2006 Matching Contribution Subaccount
	  	9
		 	 1.50
	 	 Pre-2006 Supplemental Account
	  	9
		 	 1.51
	 	 Retire
	  	9
		 	 1.52
	 	 Retirement
	  	9
		 	 1.53
	 	 Salary
	  	9
		 	 1.54
	 	 Salary Deferral Election
	  	9
		 	 1.55
	 	 Severance
	  	9
		 	 1.56
	 	 Surviving Spouse
	  	10
		 	 1.57
	 	 Termination of Employment
	  	10
		 	 1.58
	 	 Total Disability
	  	10
		 	 1.59
	 	 Transition Contributions
	  	10
		 	 1.60
	 	 Transition Contribution Account
	  	10
		 	 1.61
	 	 Unforeseeable Emergency
	  	10
		 	 1.62
	 	 Vested Percentage
	  	11
		 	 1.63
	 	 Year-End Bonus
	  	12
		 	 1.64
	 	 Year of Service
	  	12
		
	 ARTICLE II ELIGIBILITY AND PARTICIPATION
	  	13
		 	 2.1
	 	 Eligibility
	  	13
		 	 2.2
	 	 Participation
	  	13
		 	 2.3
	 	 Duration of Participation
	  	13
		 	 2.4
	 	 Deferral Elections
	  	13
		 	 2.5
	 	 Deemed Investment Elections
	  	14
		 	 2.6
	 	 Effect of Change in Status
	  	16
		
	 ARTICLE III COMPANY CONTRIBUTIONS
	  	17
		 	 3.1
	 	 Matching Contributions
	  	17
		 	 3.2
	 	 Discretionary Contributions
	  	17
		 	 3.3
	 	 Transition Contributions
	  	18
		
	 ARTICLE IV DISTRIBUTION PROVISIONS WITH RESPECT TO THE FIXED BENEFIT OPTION ACCOUNT AND THE PRE-2006 SUPPLEMENTAL
ACCOUNT
	  	19
		 	 4.1
	 	 General
	  	19
		 	 4.2
	 	 In-Service Distribution During 2005
	  	19
		 	 4.3
	 	 Special Payment Elections for Amounts Not Withdrawn Pursuant to Section 4.2
	  	19
		 	 4.4
	 	 Timing of Monthly Installments
	  	20
		 	 4.5
	 	 Death of Participant Following Commencement of Monthly Installments
	  	21
		 	 4.6
	 	 Special Provisions for “Specified Employees”
	  	21
		 	 4.7
	 	 Amount of Benefit under the Fixed Benefit Option Account
	  	21
		 	 4.8
	 	 Amount of Benefit from a Participant’s Pre-2006 Supplemental Account
	  	23
		 	 4.9
	 	 Reemployment
	  	23

  

 ii 

							
	 ARTICLE V DISTRIBUTION PROVISIONS WITH RESPECT TO THE POST-2005 SUPPLEMENTAL ACCOUNT
	  	24
		 	 5.1
	 	 General
	  	24
		 	 5.2
	 	 Payment Elections
	  	24
		 	 5.3
	 	 Timing of Lump Sum Payments
	  	26
		 	 5.4
	 	 Timing of Monthly Installments
	  	26
		 	 5.5
	 	 Death of Participant Following Commencement of Monthly Installments
	  	27
		 	 5.6
	 	 Special Provisions for “Specified Employees”
	  	27
		 	 5.7
	 	 Amount of Benefit from a Participant’s Post-2005 Supplemental Account
	  	27
		 	 5.8
	 	 Reemployment
	  	27
		
	 ARTICLE VI DISTRIBUTION PROVISIONS WITH RESPECT TO THE TRANSITION CONTRIBUTION ACCOUNT
	  	28
		 	 6.1
	 	 General
	  	28
		 	 6.2
	 	 Payment Elections
	  	28
		 	 6.3
	 	 Timing of Monthly Installments
	  	29
		 	 6.4
	 	 Death of Participant Following Commencement of Monthly Installments
	  	29
		 	 6.5
	 	 Special Provisions for “Specified Employees”
	  	29
		 	 6.6
	 	 Amount of Benefit from a Participant’s Transition Contribution Account
	  	29
		 	 6.7
	 	 Reemployment
	  	30
		
	 ARTICLE VII ADVANCE PAYMENT FOR UNFORESEEABLE EMERGENCIES
	  	31
		 	 7.1
	 	 Advance Payment for Unforeseeable Emergencies
	  	31
		 	 7.2
	 	 Payments from Accounts for Advance Payment for Unforeseeable Emergencies
	  	31
		
	 ARTICLE VIII PRE-RETIREMENT DEATH BENEFIT
	  	32
		 	 8.1
	 	 Eligibility
	  	32
		 	 8.2
	 	 Method of Payment
	  	32
		 	 8.3
	 	 Timing of Payment
	  	32
		 	 8.4
	 	 Amount of Benefit under the Fixed Benefit Option Account
	  	32
		 	 8.5
	 	 Amount of Benefit from a Participant’s Pre-2006 Supplemental Account
	  	34
		 	 8.6
	 	 Amount of Benefit from a Participant’s Post-2005 Supplemental Account
	  	34
		 	 8.7
	 	 Amount of Benefit from a Participant’s Transition Contribution Account
	  	35
		
	 ARTICLE IX CHANGE IN CONTROL BENEFIT
	  	36
		 	 9.1
	 	 Eligibility
	  	36
		 	 9.2
	 	 Method of Payment
	  	36
		 	 9.3
	 	 Timing of Payment
	  	36
		 	 9.4
	 	 Amount of Benefit under the Fixed Benefit Option Account
	  	36
		 	 9.5
	 	 Amount of Benefit from the Participant’s Pre-2006 Supplemental Account
	  	37
		 	 9.6
	 	 Amount of Benefit from the Post-2005 Supplemental Account
	  	37
		 	 9.7
	 	 Amount of Benefit from the Transition Contribution Account
	  	38
		 	 9.8
	 	 Payments to Beneficiary
	  	38
		 	 9.9
	 	 Benefits Pending or in Progress
	  	38
		
	 ARTICLE X ACCOUNTS
	  	39
		 	 10.1
	 	 Establishment of Accounts
	  	39
		 	 10.2
	 	 Accounting.
	  	39

  

 iii 

							
	 ARTICLE XI ADMINISTRATION OF THE PLAN
	  	42
		 	 11.1
	 	 Powers and Duties of the Plan Administrator
	  	42
		 	 11.2
	 	 Agents
	  	42
		 	 11.3
	 	 Reports to the Committee
	  	42
		 	 11.4
	 	 Limitations on the Plan Administrator
	  	42
		 	 11.5
	 	 Benefit Elections, Procedures and Calculations
	  	42
		 	 11.6
	 	 Calculation of Benefits
	  	43
		 	 11.7
	 	 Instructions for Payments
	  	43
		 	 11.8
	 	 Claims for Benefits
	  	43
		 	 11.9
	 	 Hold Harmless
	  	44
		 	 11.10
	 	 Service of Process
	  	45
		
	 ARTICLE XII DESIGNATION OF BENEFICIARIES
	  	46
		 	 12.1
	 	 Beneficiary Designation
	  	46
		 	 12.2
	 	 Failure to Designate Beneficiary
	  	46
		
	 ARTICLE XIII WITHDRAWAL OF PARTICIPATING COMPANY
	  	47
		 	 13.1
	 	 Withdrawal of Participating Company
	  	47
		 	 13.2
	 	 Effect of Withdrawal
	  	47
		
	 ARTICLE XIV AMENDMENT OR TERMINATION OF THE PLAN
	  	48
		 	 14.1
	 	 Right to Amend or Terminate Plan
	  	48
		 	 14.2
	 	 Notice
	  	48
		
	 ARTICLE XV GENERAL PROVISIONS AND LIMITATIONS
	  	49
		 	 15.1
	 	 No Right to Continued Employment
	  	49
		 	 15.2
	 	 Payment on Behalf of Payee
	  	49
		 	 15.3
	 	 Nonalienation
	  	49
		 	 15.4
	 	 Missing Payee
	  	50
		 	 15.5
	 	 Required Information
	  	50
		 	 15.6
	 	 No Trust or Funding Created
	  	50
		 	 15.7
	 	 Binding Effect
	  	50
		 	 15.8
	 	 Merger or Consolidation
	  	51
		 	 15.9
	 	 Entire Plan
	  	51
		 	 15.10
	 	 Withholding
	  	51
		 	 15.11
	 	 Compliance with Section 409A of the Code
	  	51
		 	 15.12
	 	 Construction
	  	51
		 	 15.13
	 	 Applicable Law
	  	51

 Exhibit A – Participating Employers 
  

 iv 

 Coca-Cola Bottling Co. Consolidated 
 Supplemental Savings Incentive Plan 
 (Amended and Restated Effective
January 1, 2005) 
 PREAMBLE 
 This Plan is designed to enhance the earnings and growth of the Participating Company. The Plan rewards selected key Employees with the opportunity to forego current Earnings in exchange for savings, wealth accumulation, retirement and
survivor benefits. Such benefits are intended to supplement savings, wealth accumulation, retirement and survivor benefits from other sources. By providing such supplemental benefits, the Plan enables the Participating Company to attract superior
key Employees, to encourage them to make careers with the Participating Company, and to give them additional incentive to make the Participating Company more profitable. 
 The Plan became effective on April 1, 1990, was amended and restated effective December 1, 1990, was amended and restated effective January 1, 2001 by an Instrument of Coca Cola Bottling Co.
Consolidated dated March 23, 2001, was further amended and restated effective January 1, 2001 by an Instrument of Cola-Cola Bottling Co. Consolidated dated July 26, 2001 and was further amended and restated effective December 28,
2003. Effective January 1, 2005, this Instrument supersedes and replaces the amended and restated Plan dated December 28, 2003. The Committee has reserved the right to amend the Plan from time to time in whole or in part, and the Committee
has authorized the amendment and restatement of the Plan set forth below. 

 ARTICLE I 
 DEFINITIONS 
 Whenever used herein and capitalized, the following terms shall have the respective
meanings indicated unless the context plainly requires otherwise: 
  

	1.1	Adjustment Date 

 December 31st of each year,
the date of a Change in Control, and any other date during the calendar year specified by the Plan Administrator, upon or as of which Pre-2006 Supplemental Accounts, Post-2005 Supplemental Accounts and Transition Contribution Accounts are adjusted
as set forth in Article X. 
  

	1.2	Affiliate 

 Any corporation or other entity with
respect to which the Company owns, directly or indirectly, 100% of the corporation’s or other entity’s outstanding capital stock or other equity interest, and any other entity with respect to which the Company owns directly or indirectly
50% or more of such entity’s outstanding capital stock or other equity interest and which the Committee designates as an Affiliate. 
  

	1.3	Authorized Leave of Absence 

 Either (a) a
leave of absence authorized by the Participating Company in its sole and absolute discretion (the Participating Company is not required to treat different Employees comparably), provided that the Employee returns to a Participating Company within
the period specified, or (b) an absence required to be considered an Authorized Leave of Absence by applicable law. 
  

	1.4	Beneficiary 

 The beneficiary or beneficiaries
designated by a Participant pursuant to Article XII to receive the benefits, if any, payable on behalf of the Participant under the Plan after the death of such Participant, or when there has been no such designation or an invalid designation, the
individual or entity, or the individuals or entities, who will receive such amount. 
  

	1.5	Bonus Deferral Election 

 The Participant’s
irrevocable written election, made in accordance with Section 2.4, to forego the receipt of a stipulated amount of a Year-End Bonus. 
  

	1.6	Board 

 The Board of Directors of the Company.

	1.7	Change in Control 

 Any of the following:

  

	 	(a)	The acquisition or possession by any person, other than Harrison Family Interests (as defined in Paragraph (e)(1) of this Section), of beneficial ownership of shares of the
Company’s capital stock having the power to cast more than 50% of the votes in the election of the Board or to otherwise designate a majority of the members of the Board; or 

  

	 	(b)	At any time when Harrison Family Interests do not have beneficial ownership of shares of the Company’s capital stock having the power to cast more than 50% of the votes in the
election of the Board or to otherwise designate a majority of the members of the Board, the acquisition or possession by any person, other than Harrison Family Interests, of beneficial ownership of shares of the Company’s capital stock having
the power to cast both (i) more than 20% of the votes in the election of the Board and (ii) a greater percentage of the votes in the election of the Board than the shares beneficially owned by Harrison Family Interests are then entitled to
cast; or 

  

	 	(c)	The sale or other disposition of all or substantially all of the business and assets of the Company and its subsidiaries (on a consolidated basis) outside the ordinary course of
business in a single transaction or series of related transactions, other than any such sale or disposition to a person controlled, directly or indirectly, by the Company or to a person controlled, directly or indirectly, by Harrison Family
Interests that succeeds to the rights and obligations of the Company with respect to the Plan; or 

  

	 	(d)	Any merger or consolidation of the Company with another entity in which the Company is not the surviving entity and in which either (i) the surviving entity does not succeed to
the rights and obligations of the Company with respect to the Plan or (ii) after giving effect to the merger, a “Change in Control” under Subsection (a) or (b) of this Section would have occurred as defined therein were the
surviving entity deemed to be the Company for purposes of Subsections (a) and (b) of this Section (with appropriate adjustments in the references therein to “capital stock” and “the Board” to properly reflect the voting
securities and governing body of the surviving entity if it is not a corporation). 

  

	 	(e)	For purposes of this Section: 

  

	 	(1)	“Harrison Family Interests” means and includes, collectively, the lineal descendants of J. Frank Harrison, Jr. (whether by blood or adoption), any decedent’s estate
of any of the foregoing, any trust primarily for the benefit of any one or more of the foregoing, any person controlled, directly or indirectly, by any one or more of the foregoing, and any person in which any one or more of the foregoing have a
majority of the equity interests; 

  

 2 

	 	(2)	“person” includes an entity as well as an individual, and also includes, for purposes of determining beneficial ownership, any group of persons acting in concert to
acquire or possess such beneficial ownership; 

  

	 	(3)	“beneficial ownership” has the meaning ascribed to such term in Rule 13d-3 of the Securities Exchange Act of 1934; 

  

	 	(4)	“control” of a person means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such person; and

  

	 	(5)	“subsidiary” of the Company means any person as to which the Company, or another subsidiary of the Company, owns more than 50% of the equity interest or has the power to
elect or otherwise designate a majority of the members of its board of directors or similar governing body. 

  

	 	(f)	Notwithstanding any other provision of this Section, the revocable appointment of a proxy to vote shares of the Company’s capital stock at a particular meeting of shareholders
shall not of itself be deemed to confer upon the holder of such proxy the beneficial ownership of such shares. If any person other than Harrison Family Interests would (but for this sentence) share beneficial ownership of any shares of the
Company’s capital stock with any Harrison Family Interests, then such person shall be deemed the beneficial owner of such shares for purposes of this definition only if and to the extent such person has the power to vote or direct the voting of
such shares otherwise than as directed by Harrison Family Interests and otherwise than for the benefit of Harrison Family Interests. 

  

	1.8	Class Year Deferral 

 The following shall
collectively constitute a Class Year Deferral for a Participant with respect to each Plan Year beginning after 2005: 
  

	 	(a)	The deferral of the Participant’s Salary under Section 2.4, including any Net Gain (Loss) Equivalent attributable thereto; 

  

	 	(b)	The deferral of any portion of the Participant’s Year-End Bonus under Section 2.4, including any Net Gain (Loss) Equivalent attributable thereto; 

 

	 	(c)	Post-2005 Matching Contributions credited to the Plan for a Participant, including any Net Gain (Loss) Equivalent attributable thereto; and 

  

	 	(d)	Post-2005 Discretionary Contributions credited to the Plan for a Participant, including any Net Gain (Loss) Equivalent attributable thereto. 

  

 3 

	1.9	Code 

 The Internal Revenue Code of 1986, as
amended. References thereto shall include the valid and binding governmental regulations, court decisions and other regulatory and judicial authority issued or rendered thereunder. 
  

	1.10	Committee 

 The Compensation Committee of the Board.

  

	1.11	Company 

 Coca-Cola Bottling Co. Consolidated, a
Delaware corporation, and where appropriate any subsidiary thereof, or any entity which succeeds to its rights and obligations with respect to the Plan; provided, however, that for purposes of Section 1.7, “Company” shall mean only
Coca-Cola Bottling Co. Consolidated, a Delaware corporation, and any entity which succeeds to its rights and obligations with respect to the Plan. 
  

	1.12	Deferral Election 

 A Salary Deferral Election or a
Bonus Deferral Election. 
  

	1.13	Deferred Retirement 

 A Participant’s
Termination of Employment, other than on account of death, after the last day of the month coinciding with or during which the Participant attains Normal Retirement Age but before the end of the calendar year in which the Participant attains age 70.
If the Participant is still employed with the Participating Company or an Affiliate at the end of the calendar year in which the Participant attains age 70, the Participant shall be deemed to have taken Deferred Retirement on the last day of that
calendar year. 
  

	1.14	Disability Retirement-Regular 

 Attaining age 55
while subject to a Total Disability if (i) the Total Disability caused a Termination of Employment, (ii) the Total Disability has continued from the Termination of Employment until age 55 and (iii) the Participant has less than 20
Years of Service (including Years of Service credited for time while the Total Disability continued) upon attaining age 55. The Participant will be deemed to have taken Disability Retirement- Regular upon attaining age 55. 
  

	1.15	Disability Retirement-Special 

 Attaining age 55
while subject to a Total Disability if (i) the Total Disability caused a Termination of Employment, (ii) the Total Disability has continued from the Termination of Employment until age 55 and (iii) the Participant has 20 or more Years
of Service (including Years of Service credited for time while the Total Disability continued) upon attaining age 55. The Participant will be deemed to have taken Disability Retirement- Special upon attaining age 55. 
  

 4 

	1.16	Early Retirement-Regular 

 Termination of
Employment, other than on account of death, after attaining age 55 but prior to the earlier of attaining age 60 or completing 20 Years of Service. 
  

	1.17	Early Retirement-Special 

 Termination of
Employment, other than on account of death, after attaining age 55 and completing 20 Years of Service, but prior to attaining age 60. 
  

	1.18	Earnings 

 With respect to an Employee, Salary and
Year-End Bonuses payable by the Participating Company to the Employee. 
  

	1.19	Effective Date 

 The Effective Date of this
amendment and restatement of the Plan is January 1, 2005. 
  

	1.20	Employee 

 A person who is a common-law employee of
the Participating Company. 
  

	1.21	ERISA 

 The Employee Retirement Income Security Act
of 1974, amended. References thereto shall include the valid and binding governmental regulations, court decisions and other regulatory and judicial authority issued or rendered thereunder. 
  

	1.22	Fixed Benefit Option Account 

 With respect to each
Participant, the separate bookkeeping account consisting of the Participant’s Pre-2006 Deferrals and Pre-2006 Company Contributions not allocated to the Participant’s Pre-2006 Supplemental Account. 
  

	1.23	Investment Option 

 An investment option designated
by the Plan Administrator pursuant to Section 2.5(e). 
  

	1.24	Investment Subaccount 

 One or more subaccounts kept
as part of: 
  

	 	(a)	A Participant’s Pre-2006 Supplemental Account to account for Pre-2006 Deferrals or Pre-2006 Company Contributions, as applicable; 

  

	 	(b)	A Participant’s Post-2005 Supplemental Account to account for Post-2005 Deferrals or Post-2005 Company Contributions, as applicable; or 

  

 5 

	 	(c)	A Participant’s Transition Contribution Account to account for Transition Contributions; 

 which are deemed to be invested in the Investment Option to which the subaccount relates, and the Net Gain (Loss) Equivalent attributable thereto.

  

	1.25	Net Gain (Loss) Equivalent 

 With respect to each
Adjustment Date, the dollar amount equivalent to be credited to or debited from, as the case may be, each of the Participant’s Investment Subaccounts. The amount of the Net Gain (Loss) Equivalent of a particular Investment Subaccount shall
equal the amount of investment gain or loss which would have been experienced had the Investment Subaccount balance been invested in the Investment Option to which it relates. As of each Adjustment Date, the Plan Administrator shall determine the
Net Gain (Loss) Equivalent, taking into due account additions to and subtractions from the Investment Subaccount since the next preceding Adjustment Date. 
  

	1.26	Normal Retirement 

 A Participant’s Termination
of Employment, other than on account of death, on the last day of the month coinciding with or during which the Participant attains Normal Retirement Age. 
  

	1.27	Normal Retirement Age 

 Age 60. 
  

	1.28	Participant 

 As of any date, (a) any Employee
who commences participation in the Plan as provided in Article II, (b) a former Employee who is eligible for a benefit under the Plan, or (c) a former Employee whose employment terminated on account of Total Disability and who may later
become eligible for a benefit under the Plan. 
  

	1.29	Participating Company 

 Subject to the provisions of
Article XIII, “Participating Company” means the Company and any Affiliate which adopts the Plan for the benefit of its selected key Employees. Each Participating Company shall be deemed to appoint the Committee as its exclusive agent to
exercise on its behalf all of the power and authority conferred by the Plan upon the Company and accept the delegation to the Plan Administrator of all the power and authority conferred upon the Plan Administrator by the Plan. The authority of the
Committee to act as such agent shall continue until the Plan is terminated as to the Participating Company. The term “Participating Company” shall be construed as if the Plan were solely the Plan of such Participating Company, unless the
context plainly requires otherwise. 
  

 6 

	1.30	Plan 

 The Coca-Cola Bottling Co. Consolidated
Supplemental Savings Incentive Plan, as contained herein and as it may be amended from time to time hereafter. 
  

	1.31	Plan Administrator 

 The Executive Vice President
and Assistant to the Chairman or such other person designated by such individual or by the Chief Executive Officer of the Company. 
  

	1.32	Plan Year 

 The 12-month period beginning each
January 1 and ending the following December 31. 
  

	1.33	Post-2005 Company Contributions 

 Post-2005 Matching
Contributions and Post-2005 Discretionary Contributions. 
  

	1.34	Post-2005 Company Contribution Subaccount 

 With
respect to each Participant, the separate bookkeeping account consisting of the Participant’s Post-2005 Matching Contribution Subaccount and the Participant’s Post-2005 Discretionary Contribution Subaccount and the Investment Subaccounts
thereunder, including Net Gain (Loss) Equivalent attributable thereto. 
  

	1.35	Post-2005 Deferrals 

 Amounts of Earnings that would
have been paid to a Participant with respect to any year after 2005 but which the Participant elects to defer pursuant to a Deferral Election. 
  

	1.36	Post-2005 Deferral Subaccount 

 The subaccount kept
as part of a Participant’s Post-2005 Supplemental Account to account for Post-2005 Deferrals credited to Investment Options and the Net Gain (Loss) Equivalent attributable thereto. 
  

	1.37	Post-2005 Discretionary Contributions 

 The
contributions described in Section 3.2(b). 
  

	1.38	Post-2005 Discretionary Contribution Subaccount 

 The subaccount kept as part of a Participant’s Post-2005 Supplemental Account to account for Post-2005 Discretionary Contributions credited to Investment Options and the Net Gain (Loss) Equivalent attributable thereto. 
  

	1.39	Post-2005 Matching Contributions 

 The contributions
described in Section 3.1(b). 
  

 7 

	1.40	Post-2005 Matching Contribution Subaccount 

 The
subaccount kept as part of a Participant’s Post-2005 Supplemental Account to account for Post-2005 Matching Contributions credited to Investment Options and the Net Gain (Loss) Equivalent attributable thereto. 
  

	1.41	Post-2005 Supplemental Account 

 With respect to
each Participant, the separate bookkeeping account consisting of the Participant’s Post-2005 Deferral Subaccount, the Post-2005 Company Contribution Subaccount and the Investment Subaccounts thereunder, including the Net Gain (Loss) Equivalent
attributable thereto. 
  

	1.42	Pre-2006 Company Contributions 

 Pre-2006 Matching
Contributions and Pre-2006 Discretionary Contributions. 
  

	1.43	Pre-2006 Company Contribution Subaccount 

 With
respect to each Participant, the separate bookkeeping account consisting of the Participant’s Pre-2006 Matching Contribution Subaccount and the Participant’s Pre-2006 Discretionary Contribution Subaccount and the Investment Subaccounts
thereunder, including Net Gain (Loss) Equivalent attributable thereto. 
  

	1.44	Pre-2006 Deferrals 

 Amounts of Earnings that would
have been paid to a Participant with respect to any year prior to 2006 but which the Participant elected to defer pursuant to a Deferral Election. 
  

	1.45	Pre-2006 Deferral Subaccount 

 The subaccount kept
as part of a Participant’s Pre-2006 Supplemental Account to account for Pre-2006 Deferrals credited to Investment Options and the Net Gain (Loss) Equivalent attributable thereto or the subaccount kept as part of a Participant’s Fixed
Benefit Option Account to account for Pre-2006 Deferrals credited to the Participant’s Fixed Benefit Option Account, as applicable. 
  

	1.46	Pre-2006 Discretionary Contributions 

 The
contributions described in Section 3.2(a). 
  

	1.47	Pre-2006 Discretionary Contribution Subaccount 

 The
subaccount kept as part of a Participant’s Pre-2006 Supplemental Account to account for Pre-2006 Discretionary Contributions credited to Investment Options and the Net Gain (Loss) Equivalent attributable thereto or the subaccount kept as part
of a Participant’s Fixed Benefit Option Account to account for Pre-2006 Discretionary Contributions credited to the Participant’s Fixed Benefit Option Account, as applicable. 
  

 8 

	1.48	Pre-2006 Matching Contributions 

 The contributions
described in Section 3.1(a). 
  

	1.49	Pre-2006 Matching Contribution Subaccount 

 The
subaccount kept as part of a Participant’s Pre-2006 Supplemental Account to account for Pre-2006 Matching Contributions credited to Investment Options and the Net Gain (Loss) Equivalent attributable thereto or the subaccount kept as part of a
Participant’s Fixed Benefit Option Account to account for Pre-2006 Matching Contributions credited to the Participant’s Fixed Benefit Option Account, as applicable. 
  

	1.50	Pre-2006 Supplemental Account 

 With respect to each
Participant, the separate bookkeeping account consisting of the Participant’s Pre-2006 Deferral Subaccount and the Pre-2006 Company Contribution Subaccount and the Investment Subaccounts thereunder, including the Net Gain (Loss) Equivalent
attributable thereto. 
  

	1.51	Retire 

 The act of taking Retirement. 

 

	1.52	Retirement 

 A Participant’s Normal Retirement,
Early Retirement, Deferred Retirement or Disability Retirement. 
  

	1.53	Salary 

 With respect to an Employee, cash base
salary payable by any Participating Company to the Employee. 
  

	1.54	Salary Deferral Election 

 The Participant’s
irrevocable written election, made in accordance with Section 2.4, to forego the receipt of a stipulated amount of Salary. 
  

	1.55	Severance 

 Termination of Employment other than on
account of Retirement, death or Total Disability. If a Participant’s employment with the Participating Company or an Affiliate terminates before attaining age 55 on account of Total Disability and the Total Disability ceases prior to Disability
Retirement, a Severance shall occur when the Total Disability ceases unless the Participant immediately returns to the employment of the Participating Company or an Affiliate. 
  

 9 

	1.56	Surviving Spouse 

 The survivor of a deceased
Participant to whom such deceased Participant was legally married (as determined by the Plan Administrator) immediately before the Participant’s death. 
  

	1.57	Termination of Employment 

 The date on which the
Participant is no longer employed by any Participating Company. For purposes of this Section, a Termination of Employment shall occur on the earlier of: 
  

	 	(a)	The later of (i) the date as of which an Employee quits, is discharged, terminates employment in connection with incurring a Total Disability, Retires or dies, or (ii) at
the discretion of the Plan Administrator when the Employee is no longer receiving severance payments; or 

  

	 	(b)	The first day of absence of an Employee who fails to return to employment at the expiration of an Authorized Leave of Absence. 

  

	1.58	Total Disability 

 A physical or mental condition
under which the Participant qualifies as totally disabled under the group long-term disability plan of the Participating Company; provided, however, that if the Participant is not covered by such a plan or if there is no such plan, the Participant
shall be under a Total Disability if the Participant is determined to be disabled under the Social Security Act. Notwithstanding any other provisions of the Plan, a Participant shall not be considered Totally Disabled if such disability is due to
(i) war, declared or undeclared, or any act of war, (ii) intentionally self-inflicted injuries, (iii) active participation in a riot, or (iv) the Participant’s intoxication or the Participant’s illegal use of drugs.

  

	1.59	Transition Contributions 

 The contributions
described in Section 3.3. 
  

	1.60	Transition Contribution Account 

 With respect to
each Participant, the separate bookkeeping account consisting of the Participant’s Transition Contributions, the Investment Subaccounts thereunder and the Net Gain (Loss) Equivalent attributable thereto. 
  

	1.61	Unforeseeable Emergency 

 A severe financial
hardship to the Participant resulting from a sudden and unexpected illness or accident of the Participant or of a dependent (as defined in Section 152(a) of the Code) of the Participant, loss of the Participant’s property due to casualty,
or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. The circumstances that will constitute an unforeseeable emergency will depend on the facts of each case. 

 

 10 

	1.62	Vested Percentage 

  

	 	(a)	Pre-2006 Deferral Subaccount and Post-2005 Deferral Subaccount: The percentage in which the Participant is vested in the Participant’s Pre-2006 Deferral Subaccount and
Post-2005 Deferral Subaccount shall be 100%. 

  

	 	(b)	Pre-2006 Company Contribution Subaccount and Post-2005 Company Contribution Subaccount: The percentage in which the Participant is vested in the Participant’s Pre-2006
Company Contribution Subaccount and Post-2005 Company Contribution Subaccount shall be 100% upon (i) Retirement, (ii) death while an Employee or while Totally Disabled but prior to reaching Disability Retirement, (iii) the completion
of at least 5 Years of Service, or (iv) a Change in Control while an Employee or while Totally Disabled but prior to reaching Disability Retirement. Prior to the occurrence of any of the events described in the preceding sentence, the
Participant’s Vested Percentage in the Participant’s Pre-2006 Company Contribution Subaccount and Post-2005 Company Contribution Subaccount shall be determined according to the following schedule: 

  

			
	 Years of Service
	  	Vested Percentage
	 Less than 1
	  	0%
	 1
	  	20%
	 2
	  	40%
	 3
	  	60%
	 4
	  	80%
	 5 or more
	  	100%

  

	 	(c)	Transition Contribution Account: The percentage in which the Participant is vested in the Participant’s Transition Contribution Account shall be 100% upon
(i) Retirement, (ii) death while an Employee or while Totally Disabled but prior to reaching Disability Retirement, or (iii) a Change in Control while an Employee or while Totally Disabled but prior to reaching Disability Retirement.
Prior to the occurrence of any of the events described in the preceding sentence, the Participant’s Vested Percentage in the Participant’s Transition Contribution Account shall be determined as of the date indicated in the following
schedule provided that the Participant is an Employee on the applicable date: 

  

			
	 Vesting Date
	  	Vested Percentage
	 December 31, 2006
	  	20%
	 December 31, 2007
	  	40%
	 December 31, 2008
	  	60%
	 December 31, 2009
	  	80%
	 December 31, 2010
	  	100%

  

 11 

	1.63	Year-End Bonus 

 A bonus which is awarded and
payable by the Participating Company or an Affiliate to the Employee in the calendar year next following the “Bonus Employment Year,” which is the calendar year in which the Employee performed the employment for which the bonus is awarded.
To qualify as a Year-End Bonus, the determination of whether to make such an award and the determination of the amount of the bonus must not be determined until after the end of the Bonus Employment Year. 
  

	1.64	Year of Service 

 A calendar year, including years
before 1990, in which an Employee completes at least 1,000 Hours of Service. A Participant’s Years of Service shall be determined (without duplication) in accordance with the following rules: 
  

	 	(a)	“Hour of Service” means each hour that would be credited for the purposes of vesting under the Coca Cola Bottling Co. Consolidated Savings Plan if that plan were in
existence when such service was performed. 

  

	 	(b)	Years of Service shall include periods of Total Disability and Authorized Leave of Absence. 

  

	 	(c)	Except as provided in Subsection (d) of this Section, Years of Service shall not include periods of employment with an Affiliate rendered prior to the date on which such
corporation or other entity became an Affiliate. 

  

	 	(d)	Years of Service shall include any period of a Participant’s prior employment by any organization upon such terms and conditions as the Plan Administrator may approve.

 A Participant shall be considered to have earned a Year of Service upon the completion of 1,000 Hours of Service during such
calendar year. 
  

 12 

 ARTICLE II 
 ELIGIBILITY AND PARTICIPATION 
  

	2.1	Eligibility 

 An Employee (i) who is a member
of the Participating Company’s “select group of management or highly compensated employees,” as defined in Sections 201(2), 301(a) (3) and 401(a) of ERISA, and (ii) who is designated by the Committee, shall be eligible to
become a Participant in the Plan. 
  

	2.2	Participation 

 An Employee who is eligible to
become a Participant shall become a Participant upon the execution and delivery to the Plan Administrator of a Deferral Election. 
  

	2.3	Duration of Participation 

 A Participant shall
continue to be a Participant until the Participant is no longer entitled to a benefit under the Plan. 
  

	2.4	Deferral Elections 

  

	 	(a)	Procedures: An Employee shall have 30 days following the date the Employee first becomes eligible to participate in the Plan in which to execute and deliver to the Plan
Administrator a Deferral Election by which the Participant elects to defer a stipulated amount of Salary to be earned with respect to the portion of the calendar year remaining after the Deferral Election is made and which, but for such Deferral
Election, would be paid to the Participant. An eligible Employee shall have until the date designated by the Plan Administrator, which date shall not be later than December 31st of each year, to execute and deliver to the Plan Administrator a
Deferral Election providing for the deferral of a stipulated amount of Earnings to be earned during the next calendar year and which, but for such Deferral Election, would be paid to the Participant. An eligible Employee’s Deferral Election
with respect to a Year-End Bonus must be made by the date designated by the Plan Administrator, which date shall not be later than the December 31st preceding the beginning of the Bonus Employment Year (as defined in Section 1.63) to which
such Year-End Bonus relates. 

  

	 	(b)	Minimum and Maximum Deferrals: The Plan Administrator, in the exercise of the Plan Administrator’s discretion, may from time to time place minimum and maximum limits on
the amount of any Deferral Election that an Employee could otherwise make pursuant to the Plan. 

  

	 	(c)	 Cancellation of Deferral Election for Unforeseeable Emergencies: Subject to approval of the Plan Administrator, a Participant may cancel the
Participant’s Deferral Election at any time only if such reduction is reasonably necessary to meet an Unforeseeable Emergency, but only if the Plan Administrator determines that the resulting hardship may not be relieved (i) through
reimbursement or 

  

 13 

	 	 
compensation from insurance or otherwise, or (ii) by liquidation of the Participant’s assets, to the extent the liquidation of such assets would
not itself cause severe financial hardship. If a Participant’s Deferral Election is cancelled pursuant to this Subsection, no further Deferral may be effective for any Earnings paid with respect to the calendar year during which the
cancellation occurs. 

  

	 	(d)	Restriction After Certain Hardship Distributions: In the event that a Participant receives a hardship distribution from any plan qualified under Section 401(a) of the
Code, then if and to the extent required by such plan, no Deferrals may be made for 12 months following the receipt of such distribution. 

  

	2.5	Deemed Investment Elections 

  

	 	(a)	Deemed Investment of Pre-2006 Deferrals and Pre-2006 Company Contributions: In making a Deferral Election, the Participant shall specify how the Pre-2006 Deferrals and the
Pre-2006 Company Contributions subject to such Election shall be allocated among the Fixed Benefit Option Account and the Supplemental Account. In accordance with such procedures and limitations as the Plan Administrator adopts, the Participant may
change such specification with respect to Pre-2006 Deferrals and Pre-2006 Company Contributions not yet credited to an Investment Subaccount. 

  

	 	(b)	Deemed Investment of Post-2005 Deferrals and Post-2005 Company Contributions: In making a Deferral Election, the Participant shall specify how the Post-2005 Deferrals and the
Post-2005 Company Contributions subject to such Election shall be allocated among the Investment Options. In accordance with such procedures and limitations as the Plan Administrator adopts, the Participant may change such specification with respect
to Post-2005 Deferrals and Post-2005 Company Contributions not yet credited to an Investment Subaccount. No Post-2005 Deferrals or Post-2005 Company Contributions may be allocated to the Fixed Benefit Option Account. 

  

	 	(c)	Deemed Investment of Transition Contributions: A Participant shall specify how Transition Contributions credited to the Participant’s Transition Contribution Account
shall be allocated among the Investment Options. In accordance with such procedures and limitations as the Plan Administrator adopts, the Participant may change such specification with respect to Transition Contributions not yet credited to an
Investment Subaccount. No Transition Contributions may be allocated to the Fixed Benefit Option Account. 

  

	 	(d)	Reallocation of Deemed Investments: 

  

	 	(1)	 Fixed Benefit Option Account. Any Pre-2006 Deferrals and Pre-2006 Company Contributions allocated to the Fixed Benefit Option Account may be reallocated to
one or more Investment Options at the election of the Participant not more frequently than once each calendar quarter. All such reallocations by the Participant in any Plan Year shall not exceed 

  

 14 

	 	 
20% of the amounts allocated to the Fixed Benefit Option Account at the beginning of such Plan Year. Any such reallocation shall be made in accordance with
and shall be subject to such procedures and limitations as the Plan Administrator adopts. 

  

	 	(2)	Pre-2006 Supplemental Account. Any Pre-2006 Deferrals and Pre-2006 Company Contributions allocated to the Participant’s Pre-2006 Supplemental Account may be reallocated
among the Investment Options at the election of the Participant not more frequently than once each calendar quarter. Any such request to have one or more Investment Subaccount balances transferred to one or more other Investment Subaccounts shall be
made in accordance with and shall be subject to such procedures and limitations as the Plan Administrator adopts. 

  

	 	(3)	Post-2005 Supplemental Account. Any Post-2005 Deferrals and Post-2005 Company Contributions allocated to the Participant’s Post-2005 Supplemental Account may be
reallocated among the Investment Options at the election of the Participant not more frequently than once each calendar quarter. Any such request to have one or more Investment Subaccount balances transferred to one or more other Investment
Subaccounts shall be made in accordance with and shall be subject to such procedures and limitations as the Plan Administrator adopts. 

  

	 	(4)	Transition Contribution Account: Any Transition Contributions allocated to the Participant’s Transition Contribution Account may be reallocated among the Investment
Options at the election of the Participant not more frequently than once each calendar quarter. Any such request to have one or more Investment Subaccount balances transferred to one or more other Investment Subaccounts shall be made in accordance
with and shall be subject to such procedures and limitations as the Plan Administrator adopts. 

  

	 	(5)	Mutual Fund Trading Rules: Notwithstanding any contrary provision of this Subsection, all reallocations among Investment Options are subject to the trading rules, policies
and procedures of the underlying mutual fund designated as an Investment Option. 

  

	 	(e)	Investment Options: Subject to Subsection (f) of this Section, the Plan Administrator shall designate the Investment Options and shall have the right to eliminate and
add Investment Options from time to time. If an Investment Option is eliminated, Participants’ Investment Subaccount balances relating to such Investment Option shall be transferred to such other Investment Subaccounts as the Plan Administrator
directs. All elections as to how Pre-2006 Deferrals, Post-2005 Deferrals, Pre-2006 Company Contributions, Post-2005 Company Contributions and Transition Contributions shall be allocated among Investment Subaccounts are subject to the Plan
Administrator’s approval. The Plan Administrator shall notify Participants if changes are made in the available Investment Options. The Plan Administrator may designate an Investment Option if and to the extent a Participant fails to make a
valid or approved election. 

  

 15 

	 	(f)	Effect of Change in Control: From and after a Change in Control, and notwithstanding any other provision of the Plan to the contrary, (i) the Investment Options in
effect immediately prior to the Change in Control shall continue and not be eliminated, and (ii) subject to Section 9.5(b), Participants shall continue to have the right to transfer their Investment Subaccount balances among the Investment
Options in accordance with the same rules and procedures as were in effect immediately prior to the Change in Control. If an Investment Option is deemed invested in a particular mutual fund or other collective investment vehicle that is liquidated
or terminated after the Change in Control or has its fundamental investment objective materially changed, then the Plan Administrator shall immediately substitute, as the deemed investment of such Investment Option, another mutual fund or other
collective investment vehicle having substantially the same investment objectives and other material characteristics as the said mutual fund or collective investment vehicle had prior to its liquidation, termination or change in investment
objective. 

  

	2.6	Effect of Change in Status 

  

	 	(a)	If a Participant’s employment with the Participating Company changes before a Change in Control to a position in which the Participant is no longer eligible to participate in
the Plan pursuant to Section 2.1, the Participant may make no Deferral Election with respect to compensation earned while ineligible to actively participate. The payment of the Participant’s benefits under the Plan shall not be accelerated
by the change in employment status, and the Participant’s benefits shall be paid when and as otherwise provided in the Plan. In determining the amount of any benefits provided by the Fixed Benefit Option Account (but not the time of such
benefit payments), it will be assumed that the Participant had a Termination of Employment on the date of the change in employment status; provided, however, if the Participant’s Vested Percentage is less than 100% on that date, the
Participant’s Vested Percentage shall be based on the Participant’s Years of Service at the time of the Participant’s actual Termination of Employment. 

  

	 	(b)	If a Participant described in Subsection (a) of this Section again becomes eligible to participate in the Plan pursuant to Section 2.1 (the Participant’s
“Reparticipation Date”), then for purposes of determining any future benefits payable to the Participant or the Participant’s Beneficiary under the Fixed Benefit Option Account, it shall be assumed that (i) any amounts that were
credited to the Fixed Benefit Option Account before the Participant’s Reparticipation Date were instead credited to the Fixed Benefit Option Account on the Participant’s Reparticipation Date, and (ii) that there has also been credited
to the Fixed Benefit Option Account on the Participant’s Reparticipation Date, as an additional Pre-2006 Deferral, or Pre-2006 Company Contribution, as the case may be, an amount equal to the interest credited on the actual amounts that had
been credited to the Fixed Benefit Option Account prior to the Reparticipation Date at the rate of 8%. 

  

 16 

 ARTICLE III 
 COMPANY CONTRIBUTIONS 
  

	3.1	Matching Contributions 

  

	 	(a)	Pre-2006 Matching Contributions: With respect to each Plan Year prior to 2006, the Company shall make a Matching Contribution on behalf of each Participant equal to the
product of 30% times the Participant’s Pre-2006 Deferrals of Salary for any payroll period; provided, however, that for this purpose there shall be disregarded the Participant’s Pre-2006 Deferrals of Salary for a particular payroll period
which exceed 6% of the Participant’s Salary for such payroll period. 

  

	 	(b)	Post-2005 Matching Contributions: With respect to each Plan Year after 2005, the Company shall make a Matching Contribution on behalf of each Participant equal to 50% times
the Participant’s Post-2005 Deferrals of Salary for any payroll period; provided, however, that for this purpose there shall be disregarded the Participant’s Post-2005 Deferrals of Salary for a particular payroll period which exceed 6% of
the Participant’s Salary for such payroll period. Notwithstanding the preceding sentence, a Participant shall not be eligible for Matching Contributions under this Subsection unless the Participant is receiving all matching contributions
available under the Company’s plan qualified under Section 401(a) of the Code, if any. 

  

	3.2	Discretionary Contributions 

  

	 	(a)	Pre-2006 Discretionary Contributions: With respect to each Plan Year prior to 2006, the Company may make a Pre-2006 Discretionary Contribution in such amount as the Committee
may determine. Such amount may be made according to a formula or may be made in differing amounts to any one or more Participants who are Employees. Such amount may from time to time increase a Participant’s Matching Contribution to take into
account some or all of the amount by which the Participant’s contributions or benefits under any plan qualified under Section 401(a) of the Code sponsored by the Participating Company may be reduced by one or more of the compensation,
contribution or benefit restrictions and limitations of the Code that apply to such plan as a condition of its qualified status. The determination of whether a particular Participant’s Matching Contribution shall be so increased, and (if so)
the amount and frequency of any such increase, shall be made by the Committee in the exercise of its sole and absolute discretion. The making of any Discretionary Contribution by the Committee does not obligate it to continue such for any other
year. 

  

	 	(b)	 Post-2005 Discretionary Contributions: With respect to each Plan Year after 2005, the Company may make a Post-2005 Discretionary Contribution in such amount
as the Committee may determine. Such amount may be made according to a formula or may be made in differing amounts to any one or more Participants who are Employees. Such amount may from time to time increase a Participant’s 

  

 17 

	 	 
Matching Contribution to take into account some or all of the amount by which the Participant’s contributions or benefits under any plan qualified under
Section 401(a) of the Code sponsored by the Participating Company may be reduced by one or more of the compensation, contribution or benefit restrictions and limitations of the Code that apply to such plan as a condition of its qualified
status. The determination of whether a particular Participant’s Matching Contribution shall be so increased, and (if so) the amount and frequency of any such increase, shall be made by the Committee in the exercise of its sole and absolute
discretion. The making of any Discretionary Contribution by the Committee does not obligate it to continue such for any other year. 

  

	3.3	Transition Contributions 

  

	 	(a)	With respect to a Participant, for each of the calendar years 2006, 2007 and 2008, the Company shall make Transition Contributions equal to the percentage of the Participant’s
Salary described in Paragraphs (1) through (4) of this Subsection. 

  

	 	(1)	10%; plus 

  

	 	(2)	An additional 10% if the Company attains 80% of the “Overall Goal Achievement Factor” established under the Company’s Annual Bonus Plan or any successor plan thereto;
plus 

  

	 	(3)	An additional 10% if the Company attains 107.5% of the “Overall Goal Achievement Factor” established under the Company’s Annual Bonus Plan or any successor plan
thereto; plus 

  

	 	(4)	An additional 10% if the Company attains 115% of the “Overall Goal Achievement Factor” established under the Company’s Annual Bonus Plan or any successor plan
thereto. 

 Notwithstanding any other provision of this Subsection to the contrary, a Participant shall not be eligible for a
Transition Contribution for any year if the Participant is not an Employee on the date the Transition Contribution is credited to Participants’ Transition Contribution Accounts. 
  

	 	(b)	The Transition Contributions described in Paragraphs (2) through (4) of Subsection (a) of this Section shall be made only if the applicable percentage of the
“Overall Goal Achievement Factor” is attained; no Transition Contribution shall be made for the partial attainment of an applicable percentage. 

  

	 	(c)	The Transition Contribution described in Paragraph (1) of Subsection (a) of this Section shall be credited monthly on the last business day of each calendar month to the
Transition Contribution Account of each Participant who is an Employee on such day. The Transition Contributions described in Paragraphs (2) through (4) of Subsection (a) of this Section shall be credited as soon as practicable
following the end of the applicable calendar year to the Transition Contribution Account of each Participant who is an Employee on the date such Transition Contribution is so credited. 

  

 18 

 ARTICLE IV 
 DISTRIBUTION PROVISIONS WITH RESPECT TO THE FIXED BENEFIT OPTION 
 ACCOUNT AND THE PRE-2006
SUPPLEMENTAL ACCOUNT 
  

	4.1	General 

 The provisions of this Article are
applicable to distributions of a Participant’s Fixed Benefit Option Account and a Participant’s Pre-2006 Supplemental Account. 
  

	4.2	In-Service Distribution During 2005 

 Each
Participant who is an Employee shall be given the opportunity to elect a distribution of up to 25% of the Vested Percentage of the amount allocated to the Participant’s Fixed Benefit Option Account and 25% of the Vested Percentage of the
Participant’s Pre-2006 Supplemental Account, each as of September 30, 2005. A distribution elected pursuant to this Section shall be paid to the Participant by December 31, 2005. With respect to any portion of such distribution
allocated to the Fixed Benefit Option Account, the Applicable Interest Rate (as described in 4.7(b)) to be applied to such distribution shall be based on the Participant’s age and Years of Service at the date such distribution is paid.

  

	4.3	Special Payment Elections for Amounts Not Withdrawn Pursuant to Section 4.2 

  

	 	(a)	Payment Election: Each Participant who is an Employee during 2005 shall be given the opportunity during 2005 to make a payment election from among the available forms and
timing of payment set forth in Subsection (b) of this Section that shall apply to the Participant’s Pre-2006 Supplemental Account and Fixed Benefit Option Account not withdrawn pursuant to Section 4.2. 

  

	 	(b)	Available Forms of Payment: With respect to a Participant’s Pre-2006 Supplemental Account and Fixed Benefit Option Account not withdrawn pursuant to Section 4.2,
the Participant shall elect either: 

  

	 	(1)	Monthly Installments Upon Termination of Employment. The balance of the Participant’s Pre-2006 Supplemental Account and Fixed Benefit Option Account shall be payable
upon the Participant’s Termination of Employment in monthly installments over a period of 10 or 15 years; or 

  

	 	(2)	Monthly Installments Commencing as of a Designated Date. The balance of the Participant’s Pre-2006 Supplemental Account and Fixed Benefit Option Account shall be payable
commencing as of the date designated by the Participant in monthly installments over a period of 10 or 15 years; provided, however, that such designated date shall not be earlier than the calendar year in which the Participant attains age 55 or
later than the calendar year in which the Participant attains age 70. With respect to any portion of such distribution allocated to the Participant’s Fixed Benefit Option Account, the Applicable Interest Rate (as described in 4.7(b)) to be
applied to such distribution shall be based on the Participant’s age and Years of Service at the date such distribution commences to be paid. 

  

 19 

	 	(3)	Default Election. If a Participant described in Subsection (a) of this Section fails to make a payment election in accordance with the provisions of this Section, the
Participant shall be deemed to have elected the payment of the Participant’s Pre-2006 Supplemental Account and Fixed Benefit Option Account in monthly installments over 15 years upon the Participant’s Termination of Employment.

  

	 	(4)	Effect of Election. Any election made pursuant to this Subsection shall be effective immediately and not be subject to the provisions of Subsection (c) of this Section.

  

	 	(c)	Subsequent Changes to Payment Elections: A Participant may change the form or timing of the payment elected under Subsection (b) of this Section, or the form or timing
of payment subsequently elected under this Subsection, with respect to the distribution of the Participant’s Pre-2006 Supplemental Account and Fixed Benefit Option Account only if (i) such election is made at least 12 months prior to the
date the payment of such Accounts would have otherwise commenced, and (ii) the effect of such election is to defer commencement of such payments by at least 5 years. Notwithstanding any other provision of this Subsection, no election may be
made under this Subsection if the effect of such election would be to commence payment of the Participant’s Pre-2006 Supplemental Account and the Participant’s Fixed Benefit Option Account after the Participant’s attainment of age 70.

  

	4.4	Timing of Monthly Installments 

  

	 	(a)	Monthly Installments Upon Termination of Employment: Subject to the provisions of Section 4.6, for any distribution made pursuant to Section 4.3(b)(1) or
Section 4.3(b)(3), such monthly installments shall commence to be paid in the calendar quarter next following the calendar quarter in which the Participant’s Termination of Employment occurs. Notwithstanding the preceding sentence, if the
Participant attains age 70 before the Participant’s Termination of Employment, such monthly installments shall commence to be paid in the calendar quarter next following the calendar quarter in which the Participant attains age 70.

  

	 	(b)	Monthly Installments Commencing as of a Designated Date: For any distribution elected pursuant to 
Section 4.3(b)(2), such monthly installments shall commence to be
paid as of the date designated by the Participant. Notwithstanding the preceding sentence and subject to the provisions of Section 4.6, if the Participant has a Termination of Employment before the date designated pursuant to
Section 4.3(b)(2), such monthly installments shall commence to be paid in the calendar quarter next following the calendar quarter in which the Participant’s Termination of Employment occurs. 

  

 20 

	4.5	Death of Participant Following Commencement of Monthly Installments 

 If a Participant who is receiving monthly installments dies before the last monthly installment is paid, then the remaining monthly installments shall be paid to the Participant’s Beneficiary as and when such
monthly installments would have otherwise been paid to the Participant had the Participant not died. 
  

	4.6	Special Provisions for “Specified Employees” 

 Notwithstanding any provision of the Plan to the contrary, to the extent applicable, in no event shall any payment made pursuant to this Article be made to a “specified employee” within the meaning of Section 409A of the Code
earlier than 6 months after the date of the Participant’s Termination of Employment, except in connection with the Participant’s death. 
  

	4.7	Amount of Benefit under the Fixed Benefit Option Account 

 The amount of the benefit provided by the Fixed Benefit Option Account shall be determined as described in Subsections (a) through (c) of this Section and shall be based solely on the amounts allocated to the Participant’s
Fixed Benefit Option Account at the time of such determination. No amounts may be allocated to the Fixed Benefit Option Account with respect to years after 2005. 
  

	 	(a)	Monthly Installments Method of Payment: Monthly installments shall be equal in amount and shall have a present value as of the first day of the calendar quarter in which
benefit payments commence as described in Section 4.4 equal to the Participant’s Fixed Benefit Option Account balance as of such date as described in Subsection (c) of this Section, determined by discounting the monthly payments at
the Applicable Interest Rate described in Subsection (b) of this Section. In the case of Deferred Retirement, the Applicable Interest Rate used to discount the monthly payments pursuant to the preceding sentence shall be 8%, 11% or 13%, as
applicable, not the 6% interest rate described in Paragraph (b)(2) of this Section. 

  

	 	(b)	Applicable Interest Rate: The “Applicable Interest Rate” shall be as follows: 

  

	 	(1)	Normal Retirement. If a distribution of the Participant’s benefit attributable to the Fixed Benefit Option Account commences upon the Participant’s eligibility for
Normal Retirement, the Applicable Interest Rate shall be (i) 13% if the Participant became a Participant by December 31, 2000 or (ii) determined as follows if the Participant became a Participant on or after January 1, 2001:

  

			
	 Years of Service at Retirement
	  	Applicable Interest Rate
	 Less than 5
	  	8%
	 5-9
	  	11%
	 10 or more
	  	13%

  

 21 

	 	(2)	Deferred Retirement. If distribution of the Participant’s benefit attributable to the Fixed Benefit Option Account commences upon the Participant’s eligibility for
Deferred Retirement, the Applicable Interest Rate for the period through December 31 of the calendar year in which the Participant attains Normal Retirement Age shall be (i) 13% if the Participant became a Participant by December 31,
2000 or (ii) determined as follows if the Participant became a Participant on or after January 1, 2001: 

  

			
	 Years of Service at Retirement
	  	Applicable Interest Rate
	 Less than 5
	  	8%
	 5-9
	  	11%
	 10 or more
	  	13%

 The Applicable Interest Rate for Deferred Retirement for any period after the Participant’s
Normal Retirement Age until the first of the month in which benefit payments commence shall be 6%. 
  

	 	(3)	Early Retirement-Regular or Disability Retirement-Regular. If distribution of the Participant’s benefit attributable to the Fixed Benefit Option Account commences upon
the Participant’s eligibility for Early Retirement – Regular or Disability Retirement – Regular, the Applicable Interest Rate shall be (i) 11% if the Participant became a Participant by December 31, 2000 or
(ii) determined as follows if the Participant became a Participant on or after January 1, 2001: 

  

			
	 Years of Service at Retirement
	  	Applicable Interest Rate
	 Less than 5
	  	8%
	 5 or more
	  	11%

  

	 	(4)	Early Retirement-Special or Disability Retirement-Special. If distribution of the Participant’s benefit attributable to the Fixed Benefit Option Account commences upon
the Participant’s eligibility for Early Retirement – Special or Disability Retirement – Special, the Applicable Interest Rate shall be 13%. 

  

	 	(5)	Severance. If distribution of the Participant’s benefit attributable to the Fixed Benefit Option Account commences on account of Severance, the Applicable Interest Rate
is 8%. 

  

	 	(c)	Fixed Benefit Option Account Balance: For purposes of Subsection (a) of this Section, the Fixed Benefit Option Account balance means the sum of Amount A, Amount B and
Amount C, determined as of the first day of the calendar quarter in which benefit payments commence as described in Section 4.4, where: 

  

	 	(1)	Amount A is the amount of the Participant’s Pre-2006 Deferrals credited to the Fixed Benefit Option Account; 

  

 22 

	 	(2)	Amount B is the product of (i) the Participant’s Pre-2006 Company Contributions credited to the Fixed Benefit Option Account multiplied by (ii) the Participant’s
Vested Percentage; and 

  

	 	(3)	Amount C is interest credited with respect to the Pre-2006 Deferrals in Amount A and the vested Pre-2006 Company Contributions in Amount B at the Applicable Interest Rate compounded
annually. 

  

	4.8	Amount of Benefit from a Participant’s Pre-2006 Supplemental Account 

 The amount of the benefit provided by a Participant’s Pre-2006 Supplemental Account shall be determined as follows: 
  

	 	(a)	Reduction for Non-Vested Benefits: If, in the case of a Severance benefit, the Participant’s Vested Percentage in the Participant’s Pre-2006 Company Contribution
Subaccount is less than 100%, then the balance of the Participant’s Pre-2006 Supplemental Account attributable to the Participant’s Pre-2006 Company Contribution Subaccount shall be reduced to the product of (i) the balance in the
Participant’s Pre-2006 Company Contribution Subaccount multiplied by (ii) the applicable Vested Percentage, and the remainder of the Participant’s Pre-2006 Company Contribution Subaccount shall be forfeited and disregarded in
determining the Participant’s Severance benefit. 

  

	 	(b)	Monthly Installments Method of Payment: The amount of each monthly installment shall be the quotient of (i) the balance of the Participant’s Pre-2006 Supplemental
Account (after any reduction for non-vested benefits described in Subsection (a) of this Section) as of the Adjustment Date immediately preceding the beginning of the calendar year in which payment of the Participant’s benefit commences as
described in Section 4.4, divided by (ii) the number of remaining monthly installments in the installment period (including the calendar year’s monthly installments being calculated). In no event, however, shall any monthly
installment exceed the balance of the Participant’s Pre-2006 Supplemental Account immediately prior to such installment, and therefore no installment shall be paid once the balance of the Participant’s Pre-2006 Supplemental Account is
zero. 

  

	4.9	Reemployment 

 If a Participant who has become
entitled to a benefit again becomes an Employee, such reemployment shall not change, suspend, delay or otherwise affect payment of such benefit. 
  

 23 

 ARTICLE V 
 DISTRIBUTION PROVISIONS WITH RESPECT TO THE POST-2005 
 SUPPLEMENTAL ACCOUNT 
  

	5.1	General 

 The provisions of this Article are
applicable to distributions of a Participant’s Post-2005 Supplemental Account. 
  

	5.2	Payment Elections 

  

	 	(a)	Class Year Payment Elections: For each Plan Year beginning after 2005, a Participant shall make a payment election from among the available forms and timing of payment set
forth in Subsection (b) of this Section that shall apply to the Class Year Deferral for such Plan Year. 

  

	 	(b)	Available Forms of Payment: A Participant shall elect from among the following forms of payment for each Class Year Deferral. The Participant may elect only one form of
payment for each Class Year Deferral. 

  

	 	(1)	Lump Sum Payment Upon Termination of Employment. The balance of the applicable Class Year Deferral shall be payable upon the Participant’s Termination of Employment in a
single lump sum payment; 

  

	 	(2)	Lump Sum Payment as of a Designated Date. The balance of the applicable Class Year Deferral shall be payable on a date designated by the Participant in a single lump sum
payment; provided, however, that such designated date may not be earlier than the beginning of the second Plan Year following the Plan Year to which the Class Year Deferral applies or later than the calendar year in which the Participant attains age
70; 

  

	 	(3)	Monthly Installments Upon Termination of Employment. The balance of the applicable Class Year Deferral shall be payable upon the Participant’s Termination of Employment
in monthly installments over a period of 5, 10 or 15 years; or 

  

	 	(4)	Monthly Installments Commencing as of a Designated Date. The balance of the applicable Class Year Deferral shall be payable commencing as of the date designated by the
Participant in monthly installments over a period of 5, 10 or 15 years; provided, however, that such designated date shall not be earlier than the beginning of the second Plan Year following the Plan Year to which the Class Year Deferral applies or
later than the calendar year in which the Participant attains age 70. 

  

	 	(5)	 Default Election. If a Participant described in Subsection (a) of this Section fails to make a class year payment election for a Class Year 

  

 24 

	 	 
Deferral in accordance with the provisions of this Section, the Participant shall be deemed to have elected for such Class Year Deferral a lump sum payment
upon the earlier of Termination of Employment or attainment of age 70. 

  

	 	(c)	Subsequent Changes to Payment Elections: A Participant may change the form or timing of the payment elected under Subsection (b) of this Section, or the form or timing
of payment subsequently elected under this Subsection, with respect to a Class Year Deferral only if (i) such election is made at least 12 months prior to the date the payment of the Class Year Deferral would have otherwise commenced, and
(ii) the effect of such election is to defer commencement of such payments by at least 5 years. Notwithstanding any other provision of this Subsection, no election may be made under this Subsection if the effect of such election would be to
commence payment of the Participant’s Class Year Deferral after the Participant’s attainment of age 70. 

  

	5.3	Timing of Lump Sum Payments 

  

	 	(a)	Lump Sum Payment Upon Termination of Employment: Subject to the provisions of Section 5.6, for any distribution of a Class Year Deferral made pursuant to
Section 5.2(b)(1), such lump sum payment shall be paid in the calendar quarter next following the calendar quarter in which the Participant’s Termination of Employment occurs. Notwithstanding the preceding sentence, if the Participant
attains age 70 before the Participant’s Termination of Employment, such lump sum payment shall be paid in the calendar quarter next following the calendar quarter in which the Participant attains age 70. 

  

	 	(b)	Lump Sum Payment as of a Designated Date: For any distribution of a Class Year Deferral made pursuant to Section 5.2(b)(2), such lump sum payment shall be paid in a
single cash payment as of the date designated by the Participant. Notwithstanding the preceding sentence and subject to the provisions of Section 5.6, if the Participant has a Termination of Employment before the date designated pursuant to
Section 5.2(b)(2), such lump sum payment shall be paid in the calendar quarter next following the calendar quarter in which the Participant’s Termination of Employment occurs. 

  

	5.4	Timing of Monthly Installments 

  

	 	(a)	Monthly Installments Upon Termination of Employment: Subject to the provisions of Section 5.6, for any distribution of a Class Year Deferral made pursuant to
Section 5.2(b)(3) or 5.2(b)(5), such monthly installments shall commence to be paid in the calendar quarter next following the calendar quarter in which the Participant’s Termination of Employment occurs. Notwithstanding the preceding
sentence, if the Participant attains age 70 before the Participant’s Termination of Employment, such monthly installments shall commence to be paid in the calendar quarter next following the calendar quarter in which the Participant attains age
70. 

  

 26 

	 	(b)	Monthly Installments Commencing as of a Designated Date: For any distribution of a Class Year Deferral made pursuant to Section 5.2(b)(4), such monthly installments
shall commence to be paid as of the date designated by the Participant. Notwithstanding the preceding sentence and subject to the provisions of Section 5.6, if the Participant has a Termination of Employment before the date designated pursuant
to Section 5.2(b)(4), such monthly installments shall commence to be paid in the calendar quarter next following the calendar quarter in which the Participant’s Termination of Employment occurs. 

  

	5.5	Death of Participant Following Commencement of Monthly Installments 

 If a Participant who is receiving monthly installments dies before the last monthly installment is paid, then the remaining monthly installments shall be paid to the Participant’s Beneficiary as and when such
monthly installments would have otherwise been paid to the Participant had the Participant not died. 
  

	5.6	Special Provisions for “Specified Employees” 

 Notwithstanding any provision of the Plan to the contrary, to the extent applicable, in no event shall any payment made pursuant to this Article be made to a “specified employee” within the meaning of Section 409A of the Code
earlier than 6 months after the date of the Participant’s Termination of Employment, except in connection with the Participant’s death. 
  

	5.7	Amount of Benefit from a Participant’s Post-2005 Supplemental Account 

 The amount of the benefit provided by a Participant’s Post-2005 Supplemental Account shall be determined as follows: 
  

	 	(a)	Reduction for Non-Vested Benefits: If, in the case of a Severance benefit, the Participant’s Vested Percentage in the Participant’s Post-2005 Company Contribution
Subaccount is less than 100%, then the balance of the Participant’s Post-2005 Supplemental Account attributable to the Participant’s Post-2005 Company Contribution Subaccount shall be reduced to the product of (i) the balance in the
Participant’s Post-2005 Company Contribution Subaccount multiplied by (ii) the applicable Vested Percentage, and the remainder of the Participant’s Post-2005 Company Contribution Subaccount shall be forfeited and disregarded in
determining the Participant’s Severance benefit. 

  

	 	(b)	Monthly Installments Method of Payment: The amount of each monthly installment shall be the quotient of (i) the balance of the Participant’s Post-2005 Supplemental
Account (after any reduction for non-vested benefits described in Subsection (a) of this Section) as of the Adjustment Date immediately preceding the beginning of the calendar year in which payment of the Participant’s benefit commences as
described in Section 5.4 divided by (ii) the number of remaining monthly installments in the installment period (including the calendar year’s monthly installments being calculated). In no event, however, shall any monthly installment
exceed the balance of the Participant’s Post-2005 Supplemental Account immediately prior to such installment, and therefore no installment shall be paid once the balance of the Participant’s Post-2005 Supplemental Account is zero.

  

	5.8	Reemployment 

 If a Participant who has become
entitled to a benefit again becomes an Employee, such reemployment shall not change, suspend, delay or otherwise affect payment of such benefit. 
  

 27 

 ARTICLE VI 
 DISTRIBUTION PROVISIONS WITH RESPECT TO THE TRANSITION 
 CONTRIBUTION ACCOUNT 
  

	6.1	General 

 The provisions of this Article are
applicable to distributions of a Participant’s Transition Contribution Account. 
  

	6.2	Payment Elections 

  

	 	(a)	Payment Elections: Each Participant who is an Employee during 2005 shall be given an opportunity during 2005 to make a payment election from among the available forms and
timing of payment set forth in Subsection (b) of this Section that shall apply to the Participant’s Transition Contribution Account. If an Employee first becomes eligible to participate in the Plan on or after January 1, 2006, the
Participant shall make a payment election with respect to Transition Contributions within 30 days following the date the Employee becomes eligible to participate in the Plan. 

  

	 	(b)	Available Forms of Payment: With respect to a Participant’s Transition Contribution Account, the Participant shall elect either: 

  

	 	(1)	Monthly Installments Upon Termination of Employment. The balance of the Participant’s Transition Contribution Account shall be payable upon the Participant’s
Termination of Employment in monthly installments over a period of 10 or 15 years; or 

  

	 	(2)	Monthly Installments Commencing as of a Designated Date. The balance of the Participant’s Transition Contribution Account shall be payable commencing as of the date
designated by the Participant in monthly installments over a period of 10 or 15 years; provided, however, that such designated date shall not be earlier than the calendar year in which the Participant attains age 55 or later than the calendar year
in which the Participant attains age 70. 

  

	 	(3)	Default Election. If a Participant described in Subsection (a) of this Section fails to make a payment election in accordance with the provisions of this Section, the
Participant shall be deemed to have elected the payment of the Participant’s Transition Contribution Account in monthly installments over 15 years upon the earlier of the Participant’s Termination of Employment or attainment of age 70.

  

	 	(c)	 Subsequent Changes to Payment Elections: A Participant may change the form or timing of the payment elected under Subsection (b) of this Section, or the
form or timing of payment subsequently elected under this Subsection, with respect to the distribution of the Participant’s Transition Contribution Account only if (i) such election is made at least 12 months prior to the date the payment
of the 

  

 28 

	 	 
Participant’s Transition Contribution Account would have otherwise commenced, and (ii) the effect of such election is to defer commencement of such
payments by at least 5 years. Notwithstanding any other provision of this Subsection, no election may be made under this Subsection if the effect of such election would be to commence payment of the Participant’s Transition Contribution Account
after the Participant’s attainment of age 70. 

  

	6.3	Timing of Monthly Installments 

  

	 	(a)	Monthly Installments Upon Termination of Employment: Subject to the provisions of Section 6.5, for any distribution made pursuant to Section 6.2(b)(1) or 6.2(b)(3),
such monthly installments shall commence to be paid in the calendar quarter next following the calendar quarter in which the Participant’s Termination of Employment occurs. Notwithstanding the preceding sentence, if the Participant attains age
70 before the Participant’s Termination of Employment, such monthly installments shall commence to be paid in the calendar quarter next following the calendar quarter in which the Participant attains age 70. 

  

	 	(b)	Monthly Installments Commencing as of a Designated Date: For any distribution made pursuant to Section 6.2(b)(2), such monthly installments shall commence to be paid as
of the date designated by the Participant. Notwithstanding the preceding sentence and subject to the provisions of Section 6.5, if the Participant has a Termination of Employment before the date designated pursuant to Section 6.2(b)(2),
such monthly installments shall commence to be paid in the calendar quarter next following the calendar quarter in which the Participant’s Termination of Employment occurs. 

  

	6.4	Death of Participant Following Commencement of Monthly Installments 

 If a Participant who is receiving monthly installment payments dies before the last monthly installment is paid, then the remaining monthly installments shall be paid to the Participant’s Beneficiary as and when
such monthly installments would have otherwise been paid to the Participant had the Participant not died. 
  

	6.5	Special Provisions for “Specified Employees” 

 Notwithstanding any provision of the Plan to the contrary, to the extent applicable, in no event shall any payment made pursuant to this Article be made to a “specified employee” within the meaning of Section 409A of the Code
earlier than 6 months after the date of the Participant’s Termination of Employment, except in connection with the Participant’s death. 
  

	6.6	Amount of Benefit from a Participant’s Transition Contribution Account 

 The amount of the benefit provided by a Participant’s Transition Contribution Account shall be determined as follows: 
  

 29 

	 	(a)	Reduction for Non-Vested Benefits: If, in the case of a Severance benefit, the Participant’s Vested Percentage in the Participant’s Transition Contribution Account
is less than 100%, then the balance of the Transition Contribution Account shall be reduced to the product of (i) the balance in the Transition Contribution Account multiplied by (ii) the applicable Vested Percentage, and the remainder of
the Transition Contribution Account shall be forfeited and disregarded in determining the Participant’s Severance benefit. 

  

	 	(b)	Monthly Installments Method of Payment: The amount of each monthly installment shall be the quotient of (i) the balance of the Participant’s Transition Contribution
Account (after any reduction for non-vested benefits described in Subsection (a) of this Section) as of the Adjustment Date immediately preceding the beginning of the calendar year in which payment of the Participant’s benefit commences as
described in Section 6.3, divided by (ii) the number of remaining monthly installments in the installment period (including the calendar year’s monthly installments being calculated). In no event, however, shall any monthly
installment exceed the balance of the Participant’s Transition Contribution Account immediately prior to such installment, and therefore no installment shall be paid once the balance of the Participant’s Transition Contribution Account is
zero. 

  

	6.7	Reemployment 

 If a Participant who has become
entitled to a benefit again becomes an Employee, such reemployment shall not change, suspend, delay or otherwise affect payment of such benefit. 
  

 30 

 ARTICLE VII 
 ADVANCE PAYMENT FOR UNFORESEEABLE EMERGENCIES 
  

	7.1	Advance Payment for Unforeseeable Emergencies 

 Subject to approval of the Plan Administrator, a Participant may receive advance payment of benefits under the Plan in the event of an Unforeseeable Emergency, but only if the Plan Administrator determines that the resulting hardship may
not be relieved (i) through reimbursement or compensation by insurance or otherwise, or (ii) by liquidation of the Participant’s assets, to the extent the liquidation of such assets would not itself cause severe financial hardship.
Any such advance payment shall be made in a single lump sum payment as soon as practicable following the Plan Administrator’s determination that such advance payment is permitted under this Section, shall not exceed the amount that the Plan
Administrator determines is necessary to satisfy the unforeseeable emergency (taking into account all other available financial resources of the Participant), and shall require that no further Deferrals be made to the Plan by the Participant for 12
months following such advance payment. 
  

	7.2	Payments from Accounts for Advance Payment for Unforeseeable Emergencies 

 An advance payment made pursuant to Section 7.1 shall be made from the Participant’s Accounts and Subaccounts as determined by the Plan Administrator. 
  

 31 

 ARTICLE VIII 
 PRE-RETIREMENT DEATH BENEFIT 
  

	8.1	Eligibility 

 This Article provides a death benefit
(“Pre-Retirement Death Benefit”) with respect to a Participant: 
  

	 	(a)	who dies while an Employee and (if the Participant has attained age 70) before Deferred Retirement; 

  

	 	(b)	who dies while Totally Disabled but prior to the commencement of Disability Retirement benefits; or 

  

	 	(c)	who dies after having terminated employment, and is eligible for Early Retirement but prior to receiving benefits under the Plan. 

 The Pre-Retirement Death Benefit shall be in lieu of any and all other benefits provided under the Plan with respect to the Participant or to the
Beneficiary. 
  

	8.2	Method of Payment 

 At the time a Participant makes
an election pursuant to Section 4.3(a) (which election may not thereafter be changed), the Participant shall also elect the form of payment of the Pre-Retirement Death Benefit attributable to the Participant’s Fixed Benefit Option Account,
the Participant’s Pre-2006 Supplemental Account, the Participant’s Post-2005 Supplemental Account and the Participant’s Transition Contribution Account that may be payable upon the Participant’s death pursuant to this Article.
The Participant may elect to have the Pre-Retirement Death Benefit paid in a single lump sum payment or in monthly installments over 5, 10 or 15 years. If a Participant fails to make a payment election described in this Section, the
Participant’s Pre-Retirement Death Benefit shall be paid to the Participant’s Beneficiary in monthly installments over 15 years. 
  

	8.3	Timing of Payment 

 The Pre-Retirement Death Benefit
shall be paid or commence to be paid during the calendar quarter next following receipt by the Plan Administrator of satisfactory proof of the Participant’s death. 
  

	8.4	Amount of Benefit under the Fixed Benefit Option Account 

 The amount of the Pre-Retirement Death Benefit provided by the Participant’s Fixed Benefit Option Account shall be determined as described in Subsections (a), (b) and (c) of this Section and shall be based solely on the
amounts allocated to the Participant’s Fixed Benefit Option Account at the time of such determination. 
  

 32 

	 	(a)	Lump Sum Method of Payment: If the method of payment is a single lump sum payment, the amount of the lump sum payment shall be the Fixed Benefit Option Account balance as
described in Subsection (c) of this Section. 

  

	 	(b)	Monthly Installments Method of Payment: If the method of payment is monthly installments, the monthly installments shall be equal in amount and shall have a present value as
of the first day of the calendar quarter next following the Participant’s death equal to the balance of the Participant’s Fixed Benefit Option Account as of such date as described in Subsection (c) of this Section, determined by
discounting the monthly payments (i) in the case of death on or after Normal Retirement Age, at the interest rate used in determining the balance of the Participants Fixed Benefit Option Account as described in Paragraph (c)(1) of this Section
or (ii) in the case of death before Normal Retirement Age, at the interest rate described in Subparagraph (c)(2)(B) of this Section. 

  

	 	(c)	Fixed Benefit Option Account Balance: For purposes of Subsections (a) and (b) of this Section, the Fixed Benefit Option Account balance means the following:

  

	 	(1)	Death on or after Normal Retirement Age. If the Participant dies on or after Normal Retirement Age, the Fixed Benefit Option Account balance shall be the amount that the
Participant’s Fixed Benefit Option Account balance would have been had the Participant Retired on the day preceding the Participant’s death. 

  

	 	(2)	Death before Normal Retirement Age. If the Participant dies before Normal Retirement Age, the Fixed Benefit Option Account shall be the sum of Amount A and Amount B,
determined as of the first day of the calendar quarter next following the Participant’s death, where: 

  

	 	(A)	Amount A is the amount of the Participant’s Pre-2006 Deferrals and Pre-2006 Company Contributions credited to the Fixed Benefit Option Account with respect to any year prior to
2006. 

  

	 	(B)	Amount B is interest credited with respect to the Pre-2006 Deferrals and Pre-2006 Company Contributions in Amount A at the following interest rate compounded annually: 13% if the
Participant was eligible for Early Retirement-Special or Disability Retirement-Special at the time of the Participant’s death, 11% if the Participant was eligible for Early Retirement-Regular or Disability Retirement-Regular at the time of the
Participant’s death, or 8% in any other case. If the Participant became a Participant on or after January 1, 2001, however, the interest rate shall be the lesser of (i) the interest rate provided by the preceding sentence or
(ii) the interest rate determined as follows: 

  

			
	 Years of Service at Participant’s Death
	  	Applicable Interest Rate
	 Less than 5
	  	8%
	 5-9
	  	11%
	 10 or more
	  	13%

  

 33 

	8.5	Amount of Benefit from a Participant’s Pre-2006 Supplemental Account 

 The amount of the Pre-Retirement Death Benefit provided by the deceased Participant’s Pre-2006 Supplemental Account shall be determined as follows: 
  

	 	(a)	Lump Sum Method of Payment: If the method of payment is a single lump sum payment, the amount of the lump sum payment shall equal the balance of the Participant’s
Pre-2006 Supplemental Account as of the Adjustment Date immediately preceding payment. 

  

	 	(b)	Monthly Installments Method of Payment: If the method of payment is monthly installments, the amount of the monthly installments shall be the quotient of (i) the balance
of the Participant’s Pre-2006 Supplemental Account as of the Adjustment Date immediately preceding the beginning of the calendar quarter in which benefit payments commence divided by (ii) the number of remaining installments in the
installment period (including the calendar year’s monthly installments being calculated). In no event, however, shall any monthly installment exceed the balance of the Participant’s Pre-2006 Supplemental Account immediately prior to such
installment, and therefore no installment shall be paid once the balance of the Participant’s Pre-2006 Supplemental Account is zero. 

  

	8.6	Amount of Benefit from a Participant’s Post-2005 Supplemental Account 

 The amount of the Pre-Retirement Death Benefit provided by the deceased Participant’s Post-2005 Supplemental Account shall be determined as follows: 
  

	 	(a)	Lump Sum Method of Payment: If the method of payment is a single lump sum payment, the amount of the lump sum payment shall equal the balance of the Participant’s
Post-2005 Supplemental Account as of the Adjustment Date immediately preceding payment. 

  

	 	(b)	Monthly Installments Method of Payment: If the method of payment is monthly installments, the amount of the monthly installments shall be the quotient of (i) the balance
of the Participant’s Post-2005 Supplemental Account as of the Adjustment Date immediately preceding the beginning of the calendar quarter in which benefit payments commence divided by (ii) the number of remaining installments in the
installment period (including the calendar year’s monthly installments being calculated). In no event, however, shall any monthly installment exceed the balance of the Participant’s Post-2005 Supplemental Account immediately prior to such
installment, and therefore no installment shall be paid once the balance of the Participant’s Post-2005 Supplemental Account is zero. 

  

 34 

	8.7	Amount of Benefit from a Participant’s Transition Contribution Account 

 The amount of the Pre-Retirement Death Benefit provided by the deceased Participant’s Transition Contribution Account shall be determined as follows: 
  

	 	(a)	Lump Sum Method of Payment: If the method of payment is a single lump sum payment, the amount of the lump sum payment shall equal the balance of the Participant’s
Transition Contribution Account as of the Adjustment Date immediately preceding payment. 

  

	 	(b)	Monthly Installments Method of Payment: If the method of payment is monthly installments, the amount of the monthly installments shall be the quotient of (i) the balance
of the Participant’s Transition Contribution Account as of the Adjustment Date immediately preceding the beginning of the calendar quarter in which benefit payments commence divided by (ii) the number of remaining installments in the
installment period (including the calendar year’s monthly installments being calculated). In no event, however, shall any monthly installment exceed the balance of the Participant’s Transition Contribution Account immediately prior to such
installment, and therefore no installment shall be paid once the balance of the Participant’s Transition Contribution Account is zero. 

  

 35 

 ARTICLE IX 
 CHANGE IN CONTROL BENEFIT 
  

	9.1	Eligibility 

 This Article provides a benefit (a
“Change in Control Benefit”) for each Participant who, as of the date of a Change in Control: 
  

	 	(a)	is an Employee and (if the Participant has attained age 70) the Participant has not taken Deferred Retirement; or 

  

	 	(b)	is under a Total Disability but has not reached Disability Retirement. 

  

	9.2	Method of Payment 

 At the time a Participant makes
an election pursuant to Section 4.3(a) (which election may not thereafter be changed), the Participant shall also elect the form of payment of the Change in Control Benefit attributable to the Participant’s Fixed Benefit Option Account,
the Participant’s Pre-2006 Supplemental Account, the Participant’s Post-2005 Supplemental Account and the Participant’s Transition Contribution Account that may be payable upon a Change in Control pursuant to this Article. The
Participant may elect to have the Change in Control Benefit paid in a single lump sum payment or in monthly installments over 5, 10 or 15 years. If a Participant fails to make a payment election described in this Section, the Participant’s
Change in Control Benefit shall be paid to the Participant in monthly installments over 15 years. 
  

	9.3	Timing of Payment 

 The Change in Control Benefit
shall be paid or commence to be paid during the calendar quarter next following the Change in Control. 
  

	9.4	Amount of Benefit under the Fixed Benefit Option Account 

 The amount of the Change in Control Benefit provided by the Participant’s Fixed Benefit Option Account shall be determined as described in Subsections (a), (b) and (c) of this Section and shall be based solely on the amounts
allocated to the Participant’s Fixed Benefit Option Account at the time of such determination. 
  

	 	(a)	Lump Sum Method of Payment: If the method of payment is a single lump sum payment, the amount of the lump sum payment shall be the Fixed Benefit Option Account balance as
described in Subsection (c) of this Section. 

  

	 	(b)	Monthly Installments Method of Payment: If the method of payment is monthly installments, the monthly installments shall be equal in amount and have a present value as of the
first day of the calendar quarter next following the Change in Control equal to the Participant’s Fixed Benefit Option Account balance, determined by discounting the monthly installments at the rate of 13% per annum.

  

 36 

	 	(c)	Fixed Benefit Option Account Balance: For purposes of Subsections (a) and (b) of this Section, the balance of the Participant’s Fixed Benefit Option Account
means the sum of Amount A and Amount B, determined as of the first day of the calendar quarter next following the Change in Control, where: 

  

	 	(1)	Amount A is the amount of the Participant’s Pre-2006 Deferrals and Pre-2006 Company Contributions credited to the Fixed Benefit Option Account; and 

  

	 	(2)	Amount B is interest credited with respect to the Pre-2006 Deferrals and Pre-2006 Company Contributions in Amount A at the rate of 13% per annum. 

  

	9.5	Amount of Benefit from the Participant’s Pre-2006 Supplemental Account 

 The amount of the Change in Control Benefit provided by the Participant’s Pre-2006 Supplemental Account shall be determined as follows: 
  

	 	(a)	Lump Sum Method of Payment: If the method of payment is a single lump sum payment, the amount of the lump sum payment shall equal the balance of the Participant’s
Pre-2006 Supplemental Account as of the Adjustment Date immediately preceding payment. 

  

	 	(b)	Monthly Installments Method of Payment: If the method of payment is monthly installments, the amount of the monthly installments shall be the quotient of (i) the balance
of the Participant’s Pre-2006 Supplemental Account as of the Adjustment Date immediately preceding the beginning of the calendar quarter in which benefit payments commence divided by (ii) the number of remaining installments in the
installment period (including the calendar year’s monthly installments being calculated). In no event, however, shall any monthly installment exceed the balance of the Participant’s Pre-2006 Supplemental Account immediately prior to such
installment, and therefore no installment shall be paid once the balance of the Participant’s Pre-2006 Supplemental Account is zero. 

  

	9.6	Amount of Benefit from the Post-2005 Supplemental Account 

 The amount of the Change in Control Benefit provided by the Participant’s Post-2005 Supplemental Account shall be determined as follows: 
  

	 	(a)	Lump Sum Method of Payment: If the method of payment is a single lump sum payment, the amount of the lump sum payment shall equal the balance of the Participant’s
Post-2005 Supplemental Account as of the Adjustment Date immediately preceding payment. 

  

	 	(b)	 Monthly Installments Method of Payment: If the method of payment is monthly installments, the amount of the monthly installments shall be the quotient of
(i) the balance of the Participant’s Post-2005 Supplemental Account as of the 

  

 37 

	 	 
Adjustment Date immediately preceding the beginning of the calendar quarter in which benefit payments commence divided by (ii) the number of remaining
installments in the installment period (including the calendar year’s monthly installments being calculated). In no event, however, shall any monthly installment exceed the balance of the Participant’s Post-2005 Supplemental Account
immediately prior to such installment, and therefore no installment shall be paid once the balance of the Participant’s Post-2005 Supplemental Account is zero. 

  

	9.7	Amount of Benefit from the Transition Contribution Account 

 The amount of the Change in Control Benefit provided by the Participant’s Transition Contribution Account shall be determined as follows: 
  

	 	(a)	Lump Sum Method of Payment: If the method of payment is a single lump sum payment, the amount of the lump sum payment shall equal the balance of the Participant’s
Transition Contribution Account as of the Adjustment Date immediately preceding payment. 

  

	 	(b)	Monthly Installments Method of Payment: If the method of payment is monthly installments, the amount of the monthly installments shall be the quotient of (i) the balance
of the Participant’s Transition Contribution Account as of the Adjustment Date immediately preceding the beginning of the calendar quarter in which benefit payments commence divided by (ii) the number of remaining installments in the
installment period (including the calendar year’s monthly installments being calculated). In no event, however, shall any monthly installment exceed the balance of the Participant’s Transition Contribution Account immediately prior to such
installment, and therefore no installment shall be paid once the balance of the Participant’s Transition Contribution Account is zero. 

  

	9.8	Payments to Beneficiary 

 If a Participant entitled
to a Change in Control Benefit dies after payment of the Change in Control Benefit has begun but before payment of the Change in Control Benefit has been completed, then the payment(s) remaining to be paid at the time of the Participant’s death
shall be paid instead to the Participant’s Beneficiary at the time and in the manner and the amount as would have been paid to the Participant had the Participant not died. If payment of the Change in Control Benefit had not begun before the
Participant’s death, payment of the Change in Control Benefit shall commence during the calendar quarter next following the Change in Control and be paid in monthly installments over 15 years. 
  

	9.9	Benefits Pending or in Progress 

 If, as of the date
of a Change in Control, a Participant is not entitled to a Change in Control Benefit under Section 9.1 but is entitled to one or more future payments under Article IV, Article V or Article VI, such benefits shall be paid at the time and in the
manner and the amount provided in Article IV, Article V or Article VI, as applicable. If, as of the date of a Change in Control, a Beneficiary is entitled to one or more future payments under Article IV, Article V, Article VI or Article VIII, such
benefits shall be paid at the time and in the manner and amount provided in Article IV, Article V, Article VI or Article VIII, as applicable. 
  

 38 

 ARTICLE X 
 ACCOUNTS 
  

	10.1	Establishment of Accounts 

  

	 	(a)	Fixed Benefit Option Account: The Plan Administrator shall establish and cause to be maintained a Fixed Benefit Option Account with respect to each Participant. In addition,
the Plan Administrator shall establish and cause to be maintained with respect to each Participant separate subaccounts to be known respectively as the Participant’s Pre-2006 Deferral Subaccount, the Pre-2006 Matching Contribution Subaccount
and the Pre-2006 Discretionary Contribution Subaccount. The applicable portion of such Subaccounts together shall comprise the Fixed Benefit Option Account. 

  

	 	(b)	Pre-2006 Supplemental Accounts: The Plan Administrator shall establish and cause to be maintained a Pre-2006 Supplemental Account with respect to each Participant. In
addition, the Plan Administrator shall establish and cause to be maintained with respect to each Participant separate subaccounts to be known respectively as the Participant’s Pre-2006 Deferral Subaccount, the Pre-2006 Matching Contribution
Subaccount and the Pre-2006 Discretionary Contribution Subaccount. The applicable portion of such Subaccounts together shall comprise the Pre-2006 Supplemental Account. Within each Pre-2006 Deferral Subaccount, Pre-2006 Matching Contribution
Subaccount and Pre-2006 Discretionary Contribution Subaccount there shall be kept Investment Subaccounts. 

  

	 	(c)	Post-2005 Supplemental Accounts: The Plan Administrator shall establish and cause to be maintained a Post-2005 Supplemental Account with respect to each Participant. In
addition, the Plan Administrator shall establish and cause to be maintained with respect to each Participant separate subaccounts to be known respectively as the Participant’s Post-2005 Deferral Subaccount, the Post-2005 Matching Contribution
Subaccount and the Post-2005 Discretionary Contribution Subaccount. The applicable portion of such Subaccounts together shall comprise the Post-2005 Supplemental Account. Within each Post-2005 Deferral Subaccount, Post-2005 Matching Contribution
Subaccount and Post-2005 Discretionary Contribution Subaccount there shall be kept Investment Subaccounts. 

  

	 	(d)	Transition Contribution Account: The Plan Administrator shall establish and cause to be maintained a Transition Contribution Account with respect to each Participant. Within
each Transition Contribution Account shall be kept Investment Subaccounts. 

  

	10.2	Accounting. 

  

	 	(a)	Accounting of Deferral Subaccounts: As of each Adjustment Date, the Plan Administrator shall debit and credit each Participant’s Pre-2006 Deferral Subaccount and
Post-2005 Deferral Subaccount, as applicable, by the following: 

  

 39 

	 	(1)	Payments. There shall be debited the amount of benefit payments made to or on behalf of the Participant or the Participant’s Beneficiary since the last Adjustment Date
and allocable to such Deferral Subaccount. 

  

	 	(2)	Net Gain (Loss) Equivalent. There shall be credited or debited, as the case may be, the Net Gain (Loss) Equivalent since the last Adjustment Date for each of the
Participant’s Investment Subaccounts. 

  

	 	(3)	Deferrals. There shall be credited the Participant’s Deferrals made since the last Adjustment Date and allocable to such Deferral Subaccount. 

 

	 	(b)	Accounting of Matching Contribution Subaccounts: As of each Adjustment Date, the Plan Administrator shall debit and credit each Participant’s Pre-2006 Matching
Contribution Subaccount or Post-2005 Matching Contribution Subaccount, as applicable, by the following: 

  

	 	(1)	Payments. There shall be debited the amount of benefit payments made to or on behalf of the Participant or the Participant’s Beneficiary since the last Adjustment Date
and allocable to such Matching Contribution Subaccount. 

  

	 	(2)	Net Gain (Loss) Equivalent. There shall be credited or debited, as the case may be, the Net Gain (Loss) Equivalent since the last Adjustment Date for each of the
Participant’s Investment Subaccounts. 

  

	 	(3)	Matching Contributions. There shall be credited the Participant’s Pre-2006 Matching Contributions or Post-2005 Matching Contributions made since the last Adjustment Date
and allocable to such Matching Contribution Subaccount. 

  

	 	(c)	Accounting of Discretionary Contribution Subaccounts: As of each Adjustment Date, the Plan Administrator shall debit and credit each Participant’s Pre-2006 Discretionary
Contribution Subaccount or Post-2005 Discretionary Contribution Subaccount, as applicable, by the following: 

  

	 	(1)	Payments. There shall be debited the amount of benefit payments made to or on behalf of the Participant or the Participant’s Beneficiary since the last Adjustment Date
and allocable to such Discretionary Contribution Subaccount. 

  

	 	(2)	Net Gain (Loss) Equivalent. There shall be credited or debited, as the case may be, the Net Gain (Loss) Equivalent since the last Adjustment Date for each of the
Participant’s Investment Subaccounts. 

  

	 	(3)	Discretionary Contributions. There shall be credited the Participant’s Pre-2006 Discretionary Contributions or Post-2005 Discretionary Contributions made since the last
Adjustment Date and allocable to such Discretionary Contribution Subaccount. 

  

 40 

	 	(d)	Accounting of Fixed Benefit Option Account: As of each Adjustment Date, the Plan Administrator shall debit and credit each Participant’s Fixed Benefit Option Account by
the following: 

  

	 	(1)	Payments. There shall be debited the amount of benefit payments made to or on behalf of the Participant or the Participant’s Beneficiary since the last Adjustment Date
and allocable to the Participant’s Fixed Benefit Option Account. 

  

	 	(2)	Interest Credit. There shall be credited interest at the Applicable Interest Rate described in Section 4.7(b), using simple interest computed on a monthly basis, since
the last Adjustment Date. 

  

	 	(e)	Accounting of Transition Contribution Account: As of each Adjustment Date, the Plan Administrator shall debit and credit each Participant’s Transition Contribution
Account by the following: 

  

	 	(1)	Payments. There shall be debited the amount of benefit payments made to or on behalf of the Participant or the Participant’s Beneficiary since the last Adjustment Date
and allocable to the Participant’s Transition Contribution Account. 

  

	 	(2)	Net Gain (Loss) Equivalent. There shall be credited or debited, as the case may be, the Net Gain (Loss) Equivalent since the last Adjustment Date for each of the
Participant’s Investment Subaccounts. 

  

	 	(3)	Transition Contributions. There shall be credited the Participant’s Transition Contributions made since the last Adjustment Date and allocable to the Participant’s
Transition Contribution Account. 

  

 41 

 ARTICLE XI 
 ADMINISTRATION OF THE PLAN 
  

	11.1	Powers and Duties of the Plan Administrator 

 The
Plan Administrator shall have general responsibility for the administration of the Plan (including but not limited to complying with reporting and disclosure requirements, and establishing and maintaining Plan records). In the exercise of the Plan
Administrator’s sole and absolute discretion, the Plan Administrator shall interpret the Plan’s provisions (and all ambiguities) and subject to the Committee’s approval, determine the eligibility of individuals for benefits.

  

	11.2	Agents 

 The Plan Administrator may engage such
legal counsel, certified public accountants and other advisors and service providers, who may be advisors or service providers for one or more Participating Companies, and make use of such agents and clerical or other personnel, as the Plan
Administrator shall require or may deem advisable for purposes of the Plan. The Plan Administrator may rely upon the written opinion of any legal counsel or accountants engaged by the Plan Administrator, and may delegate to any person or persons the
Plan Administrator’s authority to perform any act hereunder, including, without limitation, those matters involving the exercise of discretion, provided that such delegation shall be subject to revocation at any time at the discretion of the
Plan Administrator. 
  

	11.3	Reports to the Committee 

 The Plan Administrator
shall report to the Committee as frequently as the Committee shall specify, with regard to the matters for which the Plan Administrator is responsible under the Plan. 
  

	11.4	Limitations on the Plan Administrator 

 The Plan
Administrator shall not be entitled to act on or decide any matter relating solely to the Plan Administrator or any of the Plan Administrator’s rights or benefits under the Plan. In the event the Plan Administrator is unable to act in any
matter by reason of the foregoing restriction, the Committee shall act on such matter. The Plan Administrator shall not receive any special compensation for serving in such capacity but shall be reimbursed for any reasonable expenses incurred in
connection therewith. Except as otherwise required by ERISA, no bond or other security shall be required of the Plan Administrator in any jurisdiction. The Plan Administrator or any agent to whom the Plan Administrator delegates any authority, and
any other person or group of persons, may serve in more than one fiduciary capacity with respect to the Plan. 
  

	11.5	Benefit Elections, Procedures and Calculations 

 The
Plan Administrator shall establish, and may alter, amend and modify from time to time, the procedures pursuant to which Participants (and Beneficiaries) may make their 

  

 42 

 
respective elections, requests and designations under the Plan, including procedures relating to the making of Deferral Elections (including elections
thereunder as to the allocation of Pre-2006 Deferrals, Post-2005 Deferrals, Pre-2006 Company Contributions, Post-2005 Company Contributions and Transition Contributions among the Investment Options), and designations of Beneficiaries. The Plan
Administrator shall also establish the election and designation forms that Participants and Beneficiaries must use for such purposes. No election, request or designation by a Participant or a Beneficiary shall be effective unless and until it has
been executed and delivered to the Plan Administrator (or the Plan Administrator’s authorized representative) and has also satisfied any other conditions or requirements that may apply to such election, request or designation under any other
applicable provision of the Plan. 
  

	11.6	Calculation of Benefits 

 The Plan Administrator
shall promulgate and establish such written rules, charts, examples and other guidelines as the Plan Administrator deems necessary or advisable in order to precisely calculate the benefits due hereunder, and the same shall be filed with the records
of the Plan Administrator and shall be binding and governing on Participants, their Beneficiaries and all other interested parties to the extent they represent a reasonable and consistent interpretation of the benefit-calculation provisions of the
Plan. 
  

	11.7	Instructions for Payments 

 All requests of or
directions to any Participating Company for payment or disbursement shall be signed by the Plan Administrator or such other person or persons as the Plan Administrator may from time to time designate in writing. This person shall cause to be kept
full and accurate accounts of payments and disbursements under the Plan. 
  

	11.8	Claims for Benefits 

  

	 	(a)	General: In the event a claimant has a claim under the Plan, such claim shall be made by the claimant’s filing a notice thereof with the Plan Administrator. (A claimant
may authorize a representative to act on the claimant’s behalf with respect to the claim.) Each such claim shall be referred to the Plan Administrator for the initial decision with respect thereto. Each claimant who has submitted a claim to the
Plan Administrator shall be afforded a reasonable opportunity to state such claimant’s position and to submit written comments, documents, records, and other information relating to the claim to the Plan Administrator for the Plan
Administrator’s consideration in rendering the Plan Administrator’s decision with respect thereto. A claimant shall also be provided, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other
information relevant to the claim. 

  

	 	(b)	 Plan Administrator Decision: The Plan Administrator will consider the claim and make a decision and notify the claimant in writing within a reasonable period
of time but not later than 90 days after the Plan Administrator receives the claim. Under special circumstances, the Plan Administrator may take up to an additional 

  

 43 

	 	 
90 days to review the claim if the Plan Administrator determines that such an extension is necessary due to matters beyond the Plan Administrator’s
control. If this happens, the claimant will be notified before the end of the initial 90-day period of the circumstances requiring the extension and the date by which the Plan Administrator expects to render a decision. If any part of the Claim is
denied, the notice will include specific reasons for the denial and specific references to the pertinent Plan provisions on which the denial is based, describe any additional material or information necessary to file the claim properly and explain
why this material or information is necessary, and describe the Plan’s review procedures, including the claimant’s right to bring a civil action under Section 502(a) of ERISA following an adverse benefits determination on review.

  

	 	(c)	Review of Decision: The claimant may have the denial of any part of the claim reviewed. The denial will be reviewed by the Committee. To obtain a review, the claimant must
submit a written request for review to the Committee within 90 days after the claimant receives the written decision of the Plan Administrator. The written request may include written comments, documents, records, and other information relating to
the claim. The claimant will be provided upon request and free of charge reasonable access to and copies of all documents, records, and other information relevant to the claim. 

 The Committee will review the case and notify the claimant of its decision, whether favorable or unfavorable, within a reasonable period of time, but no
later than 60 days after it receives the claim. The review will take into account all comments, documents, records, and other information the claimant submits, without regard to whether such information was submitted or considered in the initial
benefit determination. Under special circumstances, the Committee may take up to an additional 60 days to review the claim if it determines that such an extension is necessary due to matters beyond its control. If this happens, the claimant will be
notified before the end of the initial 60-day period of the circumstances requiring the extension and the date by which the Committee expects to render a decision. 
 The notification to the claimant will be in writing, specify the reasons for its decision, make specific references to the Plan provisions on which the denial was based, and include a statement that the claimant is
entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to the claim and a statement regarding the claimant’s right to bring a civil action under
Section 502(a) of ERISA. 
 The decision of the Committee will be final and conclusive upon all persons interested therein, except to
the extent otherwise provided by applicable law. 
  

	11.9	Hold Harmless 

 To the maximum extent permitted by
law, no member of the Committee or the Plan Administrator shall be personally liable by reason of any contract or other instrument 

  

 44 

 
executed by the Plan Administrator or a member of the Committee or on such member’s behalf in such member’s capacity as a member of the Committee
nor for any mistake of judgment made in good faith, and each Participating Company shall indemnify and hold harmless, directly from its own assets (including the proceeds of any insurance policy the premiums of which are paid from the Company’s
own assets), the Plan Administrator and each member of the Committee and each other officer, employee, or director of any Participating Company to whom any duty or power relating to the administration or interpretation of the Plan against any cost
or expense (including counsel fees) or liability (including any sum paid in settlement of a claim with the approval of any Participating Company) arising out of any act or omission to act in connection with the Plan unless arising out of such
person’s own fraud or bad faith or such indemnification is contrary to law. 
  

	11.10	Service of Process 

 The Secretary of the Company or
such other person designated by the Board shall be the agent for service of process under the Plan. 
  

 45 

 ARTICLE XII 
 DESIGNATION OF BENEFICIARIES 
  

	12.1	Beneficiary Designation 

 Every Participant shall
file with the Plan Administrator a written designation of one or more persons as the Beneficiary who shall be entitled to receive the benefits, if any, payable under the Plan after the Participant’s death. A Participant may from time to time
revoke or change such Beneficiary by filing a new designation with the Plan Administrator. The last such designation received by the Plan Administrator shall be controlling; provided, however, that no designation, or change or revocation thereof,
shall be effective unless received by the Plan Administrator prior to the Participant’s death, and in no event shall it be effective as of any date prior to such receipt. All decisions of the Plan Administrator concerning the effectiveness of
any Beneficiary designation and the identity of any Beneficiary shall be final. If a Beneficiary dies after the death of the Participant and prior to receiving the payment(s) that would have been made to such Beneficiary had such Beneficiary’s
death not occurred, and if no contingent Beneficiary has been designated, then for the purposes of the Plan the payment(s) that would have been received by such Beneficiary shall be made to the Beneficiary’s estate. 
  

	12.2	Failure to Designate Beneficiary 

 If no Beneficiary
designation is in effect at the time of a Participant’s death (including a situation where no designated Beneficiary is alive or in existence at the time of the Participant’s death), the benefits, if any, payable under the Plan after the
Participant’s death shall be made to the Participant’s Surviving Spouse, if any, or if the Participant has no Surviving Spouse, to the Participant’s estate. If the Plan Administrator is in doubt as to the right of any person to
receive such benefits, the Plan Administrator may direct the Participating Company to withhold payment, without liability for any interest thereon, until the rights thereto are determined, or the Plan Administrator may direct the Participating
Company to pay any such amount into any court of appropriate jurisdiction; and such payment shall be a complete discharge of the liability of the Participating Company. 
  

 46 

 ARTICLE XIII 
 WITHDRAWAL OF PARTICIPATING COMPANY 
  

	13.1	Withdrawal of Participating Company 

 The
Participating Company (other than the Company) may withdraw from participation in the Plan by giving the Board prior written notice approved by resolution by its board of directors or similar governing body specifying a withdrawal date, which shall
be the last day of a month at least 30 days subsequent to the date which notice is received by the Board. The Participating Company shall withdraw from participating in the Plan if and when it ceases to be either a division of the Company or an
Affiliate. The Committee may require the Participating Company to withdraw from the Plan, as of any withdrawal date the Committee specifies. 
  

	13.2	Effect of Withdrawal 

 A Participating
Company’s withdrawal from the Plan shall not in any way modify, reduce or otherwise affect the Participating Company’s obligations under Deferral Elections made before the withdrawal, as such obligations are defined under the provisions of
the Plan existing immediately before this withdrawal. Withdrawal from the Plan by any Participating Company shall not in any way affect any other Participating Company’s participating in the Plan. 
  

 47 

 ARTICLE XIV 
 AMENDMENT OR TERMINATION OF THE PLAN 
  

	14.1	Right to Amend or Terminate Plan 

  

	 	(a)	By the Board or the Committee: Subject to Subsection (c) of this Section, the Board or the Committee reserves the right at any time to amend or terminate the Plan, in
whole or in part, and for any reason and without the consent of any Participating Company, Participant or Beneficiary. Each Participating Company by its participation in the Plan shall be deemed to have delegated this authority to the Committee.

  

	 	(b)	By the Plan Administrator: Subject to Subsection (c) of this Section, the Plan Administrator may adopt any ministerial and nonsubstantive amendment which may be
necessary or appropriate to facilitate the administration, management and interpretation of the Plan, provided the amendment does not materially affect the estimated cost to the Participating Companies of maintaining the Plan. Each Participating
Company by its participation in the Plan shall be deemed to have delegated this authority to the Plan Administrator. 

  

	 	(c)	Limitations: In no event shall any amendment or termination of the Plan modify, reduce or otherwise affect a Participating Company’s obligations under Deferral Elections
made before the amendment or termination, as such obligations are defined under the provisions of the Plan existing immediately before such amendment or termination. Notwithstanding any provision of the Plan to the contrary, from and after the date
of a Change in Control, no amendment or termination may be made to the Plan that, without the express written consent of the affected Participant or Beneficiary (as the case may be), directly or indirectly changes the amount, time or method of
payment of (i) any Change in Control Benefits resulting from the Change in Control or (ii) any Retirement benefit, Severance benefit, Pre-Retirement Death Benefit or other benefits that had accrued by the date of the Change in Control.

  

	 	(d)	Effect of Amendment and Restatement: This amendment and restatement of the Plan shall not affect the time, amount or method of payment of Plan benefits paid on or after the
Effective Date to any Participant whose employment with the Company terminated on or before the Effective Date, and such Participant’s benefits (including any death benefits) shall be determined under the provisions of the Plan as in effect
immediately prior to the Effective Date; provided, however, upon a Change in Control, the provisions of Sections 2.5(f), 9.9 and Subsection (c) of this Section shall apply to any remaining benefits of such Participant. 

 

	14.2	Notice 

 Notice of any amendment or termination of
the Plan shall be given by the Board or the Committee, whichever adopts the amendment, to the other and all Participating Companies. 
  

 48 

 ARTICLE XV 
 GENERAL PROVISIONS AND LIMITATIONS 
  

	15.1	No Right to Continued Employment 

 Nothing contained
in the Plan shall give any Employee the right to be retained in the employment of the Participating Company or Affiliate or affect the right of any such employer to dismiss any Employee with or without cause. The adoption and maintenance of the Plan
shall not constitute a contract between any Participating Company and Employee or consideration for, or an inducement to or condition of, the employment of any Employee. Unless a written contract of employment has been executed by a duly authorized
representative of a Participating Company, such Employee is an “employee at will.” 
  

	15.2	Payment on Behalf of Payee 

 If the Plan
Administrator finds that any person to whom any amount is payable under the Plan is unable to care for such person’s affairs because of illness or accident, or is a minor, or has died, then any payment due such person or such person’s
estate (unless a prior claim therefor has been made by a duly appointed legal representative) may, if the Plan Administrator so elects, be paid to such person’s spouse, a child, a relative, an institution maintaining or having custody of such
person, or any other person deemed by the Plan Administrator to be a proper recipient on behalf of such person otherwise entitled to payment. Any such payment shall be a complete discharge of the liability of the Plan and every Participating Company
therefor. 
  

	15.3	Nonalienation 

 No interest, expectancy, benefit,
payment, claim or right of any Participant or Beneficiary under the Plan shall be (a) subject in any manner to any claims of any creditor of the Participant or Beneficiary, (b) subject to the debts, contracts, liabilities or torts of the
Participant or Beneficiary or (c) subject to alienation by anticipation, sale, transfer, assignment, bankruptcy, pledge, attachment, charge or encumbrance of any kind. If any person attempts to take any action contrary to this Section, such
action shall be null and void and of no effect; and the Plan Administrator and the Participating Company shall disregard such action and shall not in any manner be bound thereby and shall suffer no liability on account of its disregard thereof.

 If the Participant or Beneficiary hereunder becomes bankrupt or attempts to anticipate, alienate, sell, assign, pledge, encumber, or charge
any right hereunder, then such right or benefit shall, in the discretion of the Plan Administrator, cease and terminate, and in such event the Plan Administrator may hold or apply the same or any part thereof for the benefit of the Participant or
Beneficiary or the spouse, children, or other dependents of the Participant or Beneficiary, or any of them, in such manner and in such amounts and proportions as the Plan Administrator may deem proper. 
  

 49 

	15.4	Missing Payee 

 If the Plan Administrator cannot
ascertain the whereabouts of any person to whom a payment is due under the Plan, and if, after five years from the date such payment is due, a notice of such payment due is mailed to the last known address of such person, as shown on the records of
the Plan Administrator or any Participating Company, and within three months after such mailing such person has not made written claim therefor, the Plan Administrator, if the Plan Administrator so elects, after receiving advice from counsel to the
Plan, may direct that such payment and all remaining payments otherwise due to such person be canceled on the records of the Plan and the amount thereof forfeited; and upon such cancellation, the Participating Company shall have no further liability
therefor, except that, in the event such person later notifies the Plan Administrator of such person’s whereabouts and requests the payment or payments due to such person under the Plan, the amounts otherwise due but unpaid shall be paid to
such person without interest for late payment. 
  

	15.5	Required Information 

 Each Participant shall file
with the Plan Administrator such pertinent information concerning himself or herself, such Participant’s Beneficiary, or such other person as the Plan Administrator may specify; and no Participant, Beneficiary, or other person shall have any
rights or be entitled to any benefits under the Plan unless such information is filed by or with respect to the Participant. 
  

	15.6	No Trust or Funding Created 

 The obligations of
such Participating Company to make payments hereunder constitutes a liability of such Participating Company to a Participant or Beneficiary, as the case may be. Such payments shall be made from the general funds of the Participating Company; and the
Participating Company shall not be required to establish or maintain any special or separate fund, or purchase or acquire life insurance on a Participant’s life, or otherwise to segregate assets to assure that such payment shall be made; and
neither a Participant nor a Beneficiary shall have any interest in any particular asset of the Participating Company by reason of its obligations hereunder. Nothing contained in the Plan shall create or be construed as creating a trust of any kind
or any other fiduciary relationship between any Participating Company and a Participant or any other person, it being the intention of the parties that the Plan be unfunded for tax purposes and for Title I of ERISA. The rights and claims of a
Participant or a Beneficiary to a benefit provided hereunder shall have no greater or higher status than the rights and claims of any other general, unsecured creditor of any Participating Company; and the Plan constitutes a mere promise to make
benefit payments in the future. 
  

	15.7	Binding Effect 

 Obligations incurred by any
Participating Company pursuant to the Plan shall be binding upon and inure to the benefit of such Participating Company, its successors and assigns, and the Participant and the Participant’s Beneficiary. 
  

 50 

	15.8	Merger or Consolidation 

 In the event of a merger
or a consolidation by any Participating Company with another corporation, or the acquisition of substantially all of the assets or outstanding stock of a Participating Company by another corporation, then and in such event the obligations and
responsibilities of such Participating Company under the Plan shall be assumed by any such successor or acquiring corporation, and all of the rights, privileges and benefits of the Participants and Beneficiaries hereunder shall continue. 

 

	15.9	Entire Plan 

 This document, any elections provided
for in the Plan, any written amendments hereto and the Exhibits attached hereto contain all the terms and provisions of the Plan and shall constitute the entire Plan, any other alleged terms or provisions being of no effect. 
  

	15.10	Withholding 

 Each Participating Company shall
withhold from benefit payments all taxes required by law. 
  

	15.11	Compliance with Section 409A of the Code 

 The
Plan is intended to comply with Section 409A of the Code. Notwithstanding any provision of the Plan to the contrary, the Plan shall be interpreted, operated and administered consistent with this intent. 
  

	15.12	Construction 

 Unless otherwise indicated, all
references to articles, sections and subsections shall be to the Plan as set forth in this document. The titles of articles and the captions preceding sections and subsections have been inserted solely as a matter of convenience of reference only
and are to be ignored in any construction of the provisions of the Plan. Whenever used herein, unless the context clearly indicates otherwise, the singular shall include the plural and the plural the singular. 
  

	15.13	Applicable Law 

 The Plan shall be governed and
construed in accordance with the laws of the State of Delaware, except to the extent such laws are preempted by the laws of the United States of America. 
  

 51 

 IN WITNESS WHEREOF, the Company has caused this Plan to be executed this 7th day of December, 2005.

  

			
	COCA-COLA BOTTLING CO.
	CONSOLIDATED
		
	By	 	                         /s/    Henry W. Flint

			
	Officer’s Name	 	   Henry W. Flint

	Officer’s Title	 	  Executive Vice President and   Assistant to the Chairman

  

 52Officer Retention Plan

 Exhibit 10.20 
 COCA-COLA BOTTLING CO. CONSOLIDATED 
 OFFICER RETENTION PLAN 
 (AS AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2005) 

 Table of Contents 
  

							
	 	 	 	 	 	  	Page
	 ARTICLE I DEFINITIONS
	  	1
				
		 	 1.1
	 	 Affiliate
	  	1
		 	 1.2
	 	 Annuity Starting Date
	  	1
		 	 1.3
	 	 Authorized Leave of Absence
	  	1
		 	 1.4
	 	 Beneficiary
	  	1
		 	 1.5
	 	 Board
	  	2
		 	 1.6
	 	 Change in Control
	  	2
		 	 1.7
	 	 Change in Control Benefit
	  	3
		 	 1.8
	 	 Code
	  	3
		 	 1.9
	 	 Committee
	  	3
		 	 1.10
	 	 Company
	  	4
		 	 1.11
	 	 Disability Retirement
	  	4
		 	 1.12
	 	 Employee
	  	4
		 	 1.13
	 	 ERISA
	  	4
		 	 1.14
	 	 Normal Retirement
	  	4
		 	 1.15
	 	 Normal Retirement Date
	  	4
		 	 1.16
	 	 ORP Accrued Retirement Benefit
	  	4
		 	 1.17
	 	 ORP Agreement
	  	4
		 	 1.18
	 	 Participating Company
	  	4
		 	 1.19
	 	 Plan
	  	5
		 	 1.20
	 	 Plan Administrator
	  	5
		 	 1.21
	 	 Postponed Retirement
	  	5
		 	 1.22
	 	 Retire
	  	5
		 	 1.23
	 	 Retirement
	  	5
		 	 1.24
	 	 Retirement Benefit
	  	5
		 	 1.25
	 	 Service
	  	5
		 	 1.26
	 	 Severance
	  	5
		 	 1.27
	 	 Severance Benefit
	  	5
		 	 1.28
	 	 Surviving Spouse
	  	6
		 	 1.29
	 	 Termination for Cause
	  	6
		 	 1.30
	 	 Termination of Employment
	  	6
		 	 1.31
	 	 Total Disability
	  	6
		 	 1.32
	 	 Vested Percentage
	  	6
		 	 1.33
	 	 Year of Plan Participation
	  	7
		
	 ARTICLE II ELIGIBILITY AND PARTICIPATION
	  	8
				
		 	 2.1
	 	 Eligibility
	  	8
		 	 2.2
	 	 Participation
	  	8
		
	 ARTICLE III RETIREMENT BENEFIT
	  	9
				
		 	 3.1
	 	 Retirement Benefit
	  	9

  

 i 

									
		 		 	 3.2
	 	 Reemployment
	  	9
			
		 	 ARTICLE IV DEATH BENEFIT
	  	10
					
		 		 	 4.1
	 	 Amount of Death Benefit Before Payment Begins
	  	10
		 		 	 4.2
	 	 Amount of Death Benefit After Annuity Payments Begin
	  	10
		 		 	 4.3
	 	 Form of Benefit
	  	10
		 		 	 4.4
	 	 Time of Payment
	  	10
			
		 	 ARTICLE V SEVERANCE BENEFIT
	  	11
					
		 		 	 5.1
	 	 Severance Benefit
	  	11
		 		 	 5.2
	 	 Reemployment
	  	11
		
	 ARTICLE VI CHANGE IN CONTROL BENEFIT
	  	12
					
		 		 	 6.1
	 	 Change in Control
	  	12
		 		 	 6.2
	 	 Enlargement of Benefits
	  	13
			
		 	 ARTICLE VII CONDITIONS
	  	14
					
		 		 	 7.1
	 	 Suicide
	  	14
		 		 	 7.2
	 	 Noncompetition
	  	14
		 		 	 7.3
	 	 Forfeiture for Cause
	  	14
		 		 	 7.4
	 	 Special Provisions for “Specified Employees”
	  	14
			
		 	 ARTICLE VIII ADMINISTRATION OF THE PLAN
	  	15
					
		 		 	 8.1
	 	 Powers and Duties of the Plan Administrator
	  	15
		 		 	 8.2
	 	 Agents
	  	15
		 		 	 8.3
	 	 Reports to the Committee
	  	15
		 		 	 8.4
	 	 Limitations on the Plan Administrator
	  	15
		 		 	 8.5
	 	 Benefit Elections, Procedures and Calculations
	  	16
		 		 	 8.6
	 	 Instructions for Payments
	  	16
		 		 	 8.7
	 	 Claims for Benefits
	  	16
		 		 	 8.8
	 	 Hold Harmless
	  	17
		 		 	 8.9
	 	 Service of Process
	  	17
			
		 	 ARTICLE IX DESIGNATION OF BENEFICIARIES
	  	18
					
		 		 	 9.1
	 	 Beneficiary Designation
	  	18
		 		 	 9.2
	 	 Failure to Designate Beneficiary
	  	18
			
		 	 ARTICLE X WITHDRAWAL OF PARTICIPATING COMPANY
	  	19
					
		 		 	 10.1
	 	 Withdrawal of Participating Company
	  	19
		 		 	 10.2
	 	 Effect of Withdrawal
	  	19

  

 ii 

							
	 ARTICLE XI AMENDMENT OR TERMINATION OF THE PLAN
	  	20
				
		 	11.1	  	 Right to Amend or Terminate Plan
	  	20
		 	11.2	  	 Notice
	  	20
		
	 ARTICLE XII GENERAL PROVISIONS AND LIMITATIONS
	  	21
				
		 	12.1	  	 No Right to Continued Employment
	  	21
		 	12.2	  	 Payment on Behalf of Payee
	  	21
		 	12.3	  	 Nonalienation
	  	21
		 	12.4	  	 Missing Payee
	  	22
		 	12.5	  	 Required Information
	  	22
		 	12.6	  	 No Trust or Funding Created
	  	22
		 	12.7	  	 Binding Effect
	  	22
		 	12.8	  	 Merger or Consolidation
	  	23
		 	12.9	  	 Entire Plan
	  	23
		 	12.10	  	 Withholding
	  	23
		 	12.11	  	 Compliance with Section 409A of the Code
	  	23
		 	12.12	  	 Construction
	  	23
		 	12.13	  	 Applicable Law
	  	23

  

 iii 

 Coca-Cola Bottling Co. Consolidated 
 Officer Retention Plan 
 (Amended and Restated Effective January 1, 2005)

 PREAMBLE 
 This Plan is
designed to enhance the earnings and growth of each Participating Company. The Plan rewards selected key Employees with retirement and survivor benefits. Such benefits are intended to supplement retirement and survivor benefits from other sources.
By providing such supplemental benefits, the Plan enables the Participating Company to attract superior key Employees, to encourage them to make careers with the Participating Company, and to give them additional incentive to make the Participating
Company more profitable. 
 The Plan became effective on January 1, 1991 and was amended and restated effective January 1,
1997, July 1, 1998 and January 1, 2001. By this Instrument, Coca-Cola Bottling Co. Consolidated is amending and restating the Plan effective January 1, 2005 to make desired changes. The Committee has reserved the right to
amend the Plan from time to time in whole or in part, and the Committee has authorized the amendment and restatement of the Plan set forth below. 

 ARTICLE I 
 DEFINITIONS 
 Whenever used herein and capitalized, the following terms shall have the respective
meanings indicated unless the context plainly requires otherwise. 
  

	1.1	Affiliate 

 Any corporation or other entity with
respect to which the Company owns directly or indirectly 100% or more of the corporation’s or other entity’s outstanding capital stock or other equity interest, and any other entity with respect to which the Company owns directly or
indirectly 50% or more of such entity’s outstanding capital stock or other equity interest and which the Committee designates as an Affiliate. 
  

	1.2	Annuity Starting Date 

 The Annuity Starting Date
has the following meanings: 
  

	 	(a)	For payments of a Retirement or Severance Benefit (unless otherwise required by Section 7.4), the first day of the third month following such Retirement or Severance;

  

	 	(b)	For payments made on account of death, the first day of the third month following receipt by the Plan Administrator of satisfactory proof of death of the Participant; and

  

	 	(c)	For payment of a Change in Control Benefit (unless otherwise required by Section 7.4 or otherwise elected by the Participant pursuant to Section 6.1(b)(2)), the first day
of the third month following the Change in Control. 

  

	1.3	Authorized Leave of Absence 

 Either (a) a
leave of absence authorized by the Participating Company, in its sole and absolute discretion (the Participating Company is not required to treat different Employees comparably), provided that the Employee returns to a Participating Company within
the period specified, or (b) an absence required to be considered an Authorized Leave of Absence by applicable law. 
  

	1.4	Beneficiary 

 The beneficiary or beneficiaries
designated by a Participant pursuant to Article IX to receive the benefits, if any, payable on behalf of the Participant under the Plan after the death of such Participant, or when there has been no such designation or an invalid designation, the
individual or entity, or the individuals or entities, who will receive such amount. 

	1.5	Board 

 The Board of Directors of the Company.

  

	1.6	Change in Control 

 Any of the following:

  

	 	(a)	The acquisition or possession by any person, other than Harrison Family Interests (as defined in Paragraph (e)(1) of this Section), of beneficial ownership of shares of the
Company’s capital stock having the power to cast more than 50% of the votes in the election of the Board or to otherwise designate a majority of the members of the Board; or 

  

	 	(b)	At any time when Harrison Family Interests do not have beneficial ownership of shares of the Company’s capital stock having the power to cast more than 50% of the votes in the
election of the Board or to otherwise designate a majority of the members of the Board, the acquisition or possession by any person, other than Harrison Family Interests, of beneficial ownership of shares of the Company’s capital stock having
the power to cast both (i) more than 20% of the votes in the election of the Board and (ii) a greater percentage of the votes in the election of the Board than the shares beneficially owned by Harrison Family Interests are then entitled to
cast; or 

  

	 	(c)	The sale or other disposition of all or substantially all of the business and assets of the Company and its subsidiaries (on a consolidated basis) outside the ordinary course of
business in a single transaction or series of related transactions, other than any such sale or disposition to a person controlled, directly or indirectly, by the Company or to a person controlled, directly or indirectly, by Harrison Family
Interests that succeeds to the rights and obligations of the Company with respect to the Plan; or 

  

	 	(d)	Any merger or consolidation of the Company with another entity in which the Company is not the surviving entity and in which either (i) the surviving entity does not succeed to
the rights and obligations of the Company with respect to the Plan or (ii) after giving effect to the merger, a “Change in Control” under Subsection (a) or (b) of this Section would have occurred as defined therein were the
surviving entity deemed to be the Company for purposes of Subsections (a) and (b) of this Section (with appropriate adjustments in the references therein to “capital stock” and “the Board” to properly reflect the voting
securities and governing body of the surviving entity if it is not a corporation). 

  

	 	(e)	For purposes of this Section: 

  

	 	(1)	 “Harrison Family Interests” means and includes, collectively, the lineal descendants of J. Frank Harrison, Jr. (whether by blood or adoption), any
decedent’s estate of any of the foregoing, any trust primarily for the benefit of any one or more of the foregoing, any person controlled, 

  

 2 

	 	directly or indirectly, by any one or more of the foregoing, and any person in which any one or more of the foregoing have a majority of the equity interests;

  

	 	(2)	“person” includes an entity as well as an individual, and also includes, for purposes of determining beneficial ownership, any group of persons acting in concert to
acquire or possess such beneficial ownership; 

  

	 	(3)	“beneficial ownership” has the meaning ascribed to such term in Rule 13d-3 of the Securities Exchange Act of 1934; 

  

	 	(4)	“control” of a person means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such person; and

  

	 	(5)	“subsidiary” of the Company means any person as to which the Company, or another subsidiary of the Company, owns more than 50% of the equity interest or has the power to
elect or otherwise designate a majority of the members of its board of directors or similar governing body. 

  

	 	(f)	Notwithstanding any other provision of this Section, the revocable appointment of a proxy to vote shares of the Company’s capital stock at a particular meeting of shareholders
shall not of itself be deemed to confer upon the holder of such proxy the beneficial ownership of such shares. If any person other than Harrison Family Interests would (but for this sentence) share beneficial ownership of any shares of the
Company’s capital stock with any Harrison Family Interests, then such person shall be deemed the beneficial owner of such shares for purposes of this definition only if and to the extent such person has the power to vote or direct the voting of
such shares otherwise than as directed by Harrison Family Interests and otherwise than for the benefit of Harrison Family Interests. 

  

	1.7	Change in Control Benefit 

 The benefit paid to a
Participant or, in the event of the Participant’s death, to the Participant’s Beneficiary, in accordance with Section 6.1. 
  

	1.8	Code 

 The Internal Revenue Code of 1986, as
amended. References thereto shall include the valid and binding governmental regulations, court decisions and other regulatory and judicial authority issued or rendered thereunder. 
  

	1.9	Committee 

 The Compensation Committee of the Board.

  

 3 

	1.10	Company 

 Coca-Cola Bottling Co. Consolidated, a
Delaware corporation, and where appropriate any subsidiary thereof, or any entity which succeeds to its rights and obligations with respect to the Plan; provided, however, that for purposes of Section 1.6, “Company” shall mean only
Coca-Cola Bottling Co. Consolidated, a Delaware corporation, and any entity which succeeds to its rights and obligations with respect to the Plan. 
  

	1.11	Disability Retirement 

 A Termination of Employment
on account of Total Disability which occurs prior to a Participant’s Normal Retirement Date. 
  

	1.12	Employee 

 A person who is a common-law employee of
a Participating Company. 
  

	1.13	ERISA 

 The Employee Retirement Income Security Act
of 1974, as amended. References thereto shall include the valid and binding governmental regulations, court decisions and other regulatory and judicial authority issued or rendered thereunder. 
  

	1.14	Normal Retirement 

 Participant’s Termination
of Employment, other than on account of death, on the last day of the month coinciding with or during which the Participant attains age 60. 
  

	1.15	Normal Retirement Date 

 The last day of the month
coinciding with or during which the Participant attains age 60. 
  

	1.16	ORP Accrued Retirement Benefit 

 A
Participant’s ORP Accrued Retirement Benefit shall be as stated in the schedule attached to the Participant’s ORP Agreement. An example of such a schedule is attached hereto as Exhibit B. The Participant’s ORP Accrued Retirement
Benefit shall increase with each Year of Plan Participation the Participant completes. 
  

	1.17	ORP Agreement 

 The Agreement the Participating
Company and the Participant enter into pursuant to Article II. 
  

	1.18	Participating Company 

 Subject to the provisions of
Article X, “Participating Company” means the Company and any Affiliate which adopts the Plan for the benefit of its selected key Employees. Each Participating Company shall be deemed to appoint the Committee its exclusive agent to 

  

 4 

 exercise on its behalf all of the power and authority conferred by the Plan upon the Company and accept
the delegation to the Plan Administrator of all the power and authority conferred upon the Plan Administrator by the Plan. The authority of the Company to act as such agent shall continue until the Plan is terminated as to the Participating Company.
The term “Participating Company” shall be construed as if the Plan were solely the Plan of such Participating Company, unless the context plainly requires otherwise. 
  

	1.19	Plan 

 The Coca-Cola Bottling Co. Consolidated
Officer Retention Plan, as contained herein and as it may be amended from time to time hereafter. 
  

	1.20	Plan Administrator 

 The Executive Vice President
and Assistant to the Chairman or such other person designated by such individual or by the Chief Executive Officer of the Company. 
  

	1.21	Postponed Retirement 

 A Participant’s
Termination of Employment, other than on account of death, after the date on which the Participant’s Normal Retirement would occur. 
  

	1.22	Retire 

 The act of taking Retirement. 

 

	1.23	Retirement 

 A Participant’s Normal Retirement,
Postponed Retirement or Disability Retirement. 
  

	1.24	Retirement Benefit 

 The benefit paid to a
Participant in accordance with the provisions of Article III. 
  

	1.25	Service 

 Employment with any Participating Company,
including in the discretion of the Plan Administrator, any period during which severance payments are made. 
  

	1.26	Severance 

 Termination of Employment prior to a
Participant’s Normal Retirement Date other than on account of Total Disability or death. 
  

	1.27	Severance Benefit 

 The benefit paid to a
Participant in accordance with the provisions of Article V. 
  

 5 

	1.28	Surviving Spouse 

 The survivor of a deceased
Participant to whom such deceased Participant was legally married (as determined by the Plan Administrator) immediately before the Participant’s death. 
  

	1.29	Termination for Cause 

 Termination prior to a
Change in Control by reason of (a) the Employee’s commission of an act of embezzlement, dishonesty, fraud, gross neglect of duties, or disloyalty to any Participating Company, (b) the Employee’s commission of a felonious act or
other crime involving moral turpitude or public scandal, (c) the Employee’s alcoholism or drug addiction, or (d) the Employee’s improper communication of confidential information about any Participating Company or other conduct
committed which the Employee knew or should have known was not in any Participating Company’s best interest. 
  

	1.30	Termination of Employment 

 The date on which the
Participant is no longer employed by any Participating Company. For purposes of this Section, a Termination of Employment occurs on the earlier of: 
  

	 	(a)	The later of the date (i) as of which the Employee quits, is discharged, terminates employment in connection with incurring a Total Disability, Retirement or death, or
(ii) at the discretion of the Plan Administrator, the Employee is no longer receiving severance payments; or 

  

	 	(b)	The first day of absence of an Employee who fails to return to employment at the expiration of an Authorized Leave of Absence. 

  

	1.31	Total Disability 

 A physical or mental condition
under which the Participant qualifies as totally disabled under the group long-term disability plan of the Participating Company; provided, however, that if the Participant is not covered by such plan or if there is no such plan, the Participant
shall be under a Total Disability if the Participant is determined to be disabled under the Social Security Act. Notwithstanding any other provisions of the Plan, a Participant shall not be considered Totally Disabled if such disability is due to
(i) war, declared or undeclared, or any act of war, (ii) intentionally self-inflicted injuries, (iii) active participation in a riot or (iv) the Participant’s intoxication or the Participant’s illegal use of drugs.

  

	1.32	Vested Percentage 

 The percentage in which the
Participant is vested in benefits attributable to the Participant’s ORP Accrued Retirement Benefit shall be 100% upon (i) Retirement, (ii) death while an Employee or while Totally Disabled but prior to reaching Disability Retirement,
or (iii) a Change in Control while an Employee or while Totally Disabled but prior to reaching Disability Retirement. Unless otherwise provided in a Participant’s 

  

 6 

 
ORP Agreement, prior to the occurrence of any of the above events, the Participant’s Vested Percentage in benefits attributable to the
Participant’s ORP Accrued Retirement Benefit shall be determined according to the following schedule: 
  

					
	Age	 	 	  	Vested Percentage
	 	 		  	 
	 50
	 		  	  50%
	 51
	 		  	  55%
	 52
	 		  	  60%
	 53
	 		  	  65%
	 54
	 		  	  70%
	 55
	 		  	  75%
	 56
	 		  	  80%
	 57
	 		  	  85%
	 58
	 		  	  90%
	 59
	 		  	  95%
	 60
	 		  	100%

  

	1.33	Year of Plan Participation 

 A Participant shall be
credited with a Year of Plan Participation for the calendar year in which the Participant’s participation in the Plan begins if the Participant remains in Service through the end of such calendar year. With respect to each calendar year
following the calendar year in which the Participant’s participation begins, the Participant shall be credited with a Year of Plan Participation for each such calendar year during which the Participant is in Service for the entirety of such
calendar year. Notwithstanding any other provision of this Section, a Participant who is an Employee shall be credited with a Year of Plan Participation for the year in which and at the time the Participant attains Normal Retirement. 
  

 7 

 ARTICLE II 
 ELIGIBILITY AND PARTICIPATION 
  

	2.1	Eligibility 

 An Employee (a) who is a member
of the Participating Company’s “select group of management or highly compensated employees,” as defined in Sections 201(2), 301(a) (3) and 401(a) of ERISA, and (b) who is designated by the Committee, shall be eligible to
become a Participant in the Plan. 
  

	2.2	Participation 

 An Employee who is eligible to
become a Participant shall become a Participant upon the execution and delivery to the Plan Administrator of an ORP Agreement substantially in the form attached hereto as Exhibit A. 
  

 8 

 ARTICLE III 
 RETIREMENT BENEFIT 
  

	3.1	Retirement Benefit 

  

	 	(a)	Eligibility for Retirement Benefit: Upon a Participant’s Normal Retirement, Postponed Retirement or Disability Retirement, the Participating Company shall pay the
Participant a Retirement Benefit subject to the conditions and adjustments described in this Section. 

  

	 	(b)	Election of Payment Form: 

  

	 	(1)	Special Payment Election in 2005: Each Participant who is an Employee during 2005 shall be given the opportunity during 2005 to make a payment election applicable to the
Participant’s ORP Accrued Retirement Benefit. The Participant may elect that the Participant’s ORP Accrued Retirement Benefit be paid in equal monthly installments over 10, 15 or 20 years. If a Participant described in this Paragraph fails
to make a payment election described in this Paragraph, the Participant’s ORP Accrued Retirement Benefit shall be paid in equal monthly installments over 20 years. Any election made pursuant to this Paragraph shall be irrevocable on
December 31, 2005. 

  

	 	(2)	Payment Election after 2005: Each individual who first becomes a Participant after 2005 shall elect that the Participant’s ORP Accrued Retirement Benefit be paid in
equal monthly installments over 10, 15 or 20 years. Such election must be filed with the Plan Administrator within 30 days following the date of the Participant’s ORP Agreement. If a Participant described in this Paragraph fails to make a
payment election described in this Paragraph, the Participant’s ORP Accrued Retirement Benefit shall be paid in equal monthly installments over 20 years. Any election made pursuant to this Paragraph shall be irrevocable 30 days following the
date of the Participant’s ORP Agreement. 

  

	 	(c)	Amount and Commencement of Retirement Benefit: 

  

	 	(1)	The present value of the Retirement Benefit as of the Annuity Starting Date, determined by using a discount rate of 8% per annum using simple interest computed on a monthly
basis, shall equal the ORP Accrued Retirement Benefit the Participant accrued as of the Participant’s Retirement. 

  

	 	(2)	Payment of a Participant’s Retirement Benefit shall be made to the Participant beginning on the Annuity Starting Date described in Section 1.2(a) and continuing on the
first day of each month thereafter until expiration of the period certain. The present value of the monthly installments as of the Annuity Starting Date, determined by using a discount rate of 8% per annum using simple interest computed on a
monthly basis, shall equal Participant’s ORP Accrued Retirement Benefit accrued as of the date of the Participant’s Retirement. 

  

	3.2	Reemployment 

 If a Retired Participant again
becomes an Employee, such reemployment shall not affect in any way the Participant’s Retirement Benefit; and unless the Plan Administrator otherwise decides, the Participant shall not accrue any additional benefit under the Plan on account of
such reemployment. 
  

 9 

 ARTICLE IV 
 DEATH BENEFIT 
  

	4.1	Amount of Death Benefit Before Payment Begins 

 If a
Participant dies before receiving any payment under the Plan, the death benefit shall equal the Vested Percentage of the Participant’s ORP Accrued Retirement Benefit as of the Participant’s death. Notwithstanding the preceding sentence:

  

	 	(a)	No death benefit shall be paid if the Participant dies after a Termination for Cause; or 

  

	 	(b)	If a Participant entitled to a Change in Control Benefit under Section 6.1 dies before payment of the Participant’s Change in Control Benefit has begun, the amount of the
death benefit shall be determined in accordance with Section 6.1(b)(3). 

  

	4.2	Amount of Death Benefit After Annuity Payments Begin 

 If a Participant dies after monthly installments begin but before all payments have been made, the monthly installments remaining shall be paid to the Participant’s Beneficiary in a single lump sum, the present value of which shall be
determined by using a discount rate of 8% per annum using simple interest computed on a monthly basis applied to the remaining monthly installments. 
  

	4.3	Form of Benefit 

 Payment of all death benefits
shall be made in a single lump sum. 
  

	4.4	Time of Payment 

 The payment of a death benefit
under this Article shall be made on the Annuity Starting Date described in Section 1.2(b). 
  

 10 

 ARTICLE V 
 SEVERANCE BENEFIT 
  

	5.1	Severance Benefit 

  

	 	(a)	Eligibility for Severance Benefit: Upon a Participant’s Severance, the Participating Company shall pay the Participant a Severance Benefit subject to the conditions and
adjustments described in this Section. 

  

	 	(b)	Election of Payment Form: The Participant’s Severance Benefit shall be paid in the form elected under 
Section 3.1(b). 

  

	 	(c)	Amount and Commencement of Severance Benefit: 

  

	 	(1)	The present value of the Severance Benefit as of the Annuity Starting Date, determined by using a discount rate of 8% per annum using simple interest computed on a monthly
basis, shall equal the Vested Percentage of the Participant’s ORP Accrued Retirement Benefit as of the date of the Participant’s Severance. 

  

	 	(2)	Payment of the Participant’s Severance Benefit shall be made to the Participant beginning on the Annuity Starting Date described in Section 1.2(a) and continuing on the
first day of each month thereafter until the expiration of the period certain. The present value of the monthly installments as of the Annuity Starting Date, determined by using a discount rate of 8% per annum using simple interest computed on
a monthly basis, shall equal the Vested Percentage of the Participant’s ORP Accrued Retirement Benefit accrued as of the Participant’s date of Severance. 

  

	5.2	Reemployment 

 Except as otherwise provided in this
Section, if a Participant who has had a Severance again becomes an Employee, such reemployment shall not affect in any way the Participant’s Severance Benefit; and unless the Plan Administrator decides otherwise, the Participant shall not
accrue any additional benefit under the Plan on account of such reemployment. 
  

 11 

 ARTICLE VI 
 CHANGE IN CONTROL BENEFIT 
  

	6.1	Change in Control 

  

	 	(a)	Eligibility for Change in Control Benefit: Upon a Change in Control, the Participating Company shall pay to each Participant who is an Employee on the date of the Change in
Control a Change in Control Benefit in lieu of any other benefits to which the Participant may be entitled under the Plan. The Change in Control Benefit shall be subject to the conditions and adjustments described in Subsection (b) of this
Section. 

  

	 	(b)	Amount, Form and Commencement of Change in Control Benefit: 

  

	 	(1)	The present value of the Change in Control Benefit as of the Annuity Starting Date, determined by using a discount rate of 8% per annum using simple interest computed on a
monthly basis, shall equal the Participant’s CIC Amount. The “CIC Amount” means the ORP Accrued Retirement Benefit that the Participant would have accrued as of the Participant’s Normal Retirement Date had the Participant’s
Years of Plan Participation continued unbroken through the Participant’s Normal Retirement Date. (Solely for illustration purposes, the CIC Amount of a Participant whose ORP Accrued Retirement Benefit schedule attached to the Participant’s
ORP Agreement was Exhibit B hereto would be $500,000, irrespective of the plan year or the Participant’s age during which the Change in Control occurred.) 

  

	 	(2)	The Participant (i) may make an election to have the Participant’s Change in Control Benefit paid in a single lump sum or in equal monthly installments over 10, 15 or 20
years, and (ii) may make an election to have payment of the Participant’s Change in Control Benefit commence at a time later than the Annuity Starting Date described in Section 1.2(c). Such elections must be made in accordance with
the provisions of Section 3.1(b); provided, however, that if a Participant fails to make a payment election for the Participant’s Change in Control Benefit, the Participant’s Change in Control Benefit shall be paid in a single lump
sum as of the Annuity Starting Date described in Section 1.2(c). 

  

	 	(3)	If a Participant elects payment of the Participant’s Change in Control Benefit in monthly installments for a period certain, then payment shall be made to the Participant
beginning on the Annuity Starting Date and continuing on the first day of each month thereafter until expiration of the period certain. The present value of the monthly installments as of the Annuity Starting Date, determined by using a discount
rate of 8% per annum using simple interest computed on a monthly basis, shall equal the Participant’s CIC Amount. 

  

 12 

	 	(4)	If a Participant elects to have payment of the Participant’s Change in Control Benefit commence at a time later than the Annuity Starting Date, then payment shall be made to
the Participant beginning on the date elected and, if in monthly installments, continuing on the first day of each month thereafter until the expiration of the period certain. If payment is in a single lump sum, the amount of the lump sum shall
equal the Participant’s CIC Amount, increased at the rate of 8% per annum using simple interest computed on a monthly basis for the period from the Annuity Starting Date to the date of payment of the single lump sum; provided, however,
that no increase shall apply after the Participant’s Normal Retirement Date. If payment is made in monthly installments, the present value of the monthly installments as of the date payment commences, determined by using a discount rate of
8% per annum simple interest (not compounded), shall equal the Participant’s CIC Amount, increased at the rate of 8% per annum using simple interest computed on a monthly basis for the period from the Annuity Starting Date to the date
payment of the monthly installments commence; provided, however, that no increase shall apply after the Participant’s Normal Retirement Date. 

  

	 	(5)	If a Participant entitled to a Change in Control Benefit dies before payment of the Participant’s Change in Control Benefit has begun or been completed, then full payment of
the Change in Control Benefit, as determined under this Section, shall still be made, and the payment(s) remaining to be paid shall be paid instead to the Participant’s Beneficiary in a lump sum on the Annuity Starting Date described in
Section 1.2(b). If payment of the Change in Control Benefit had not begun before the Participant’s death, the amount of the lump sum shall be the Participant’s CIC Amount, increased, if the Participant had elected a benefit
commencement date later than the Annuity Starting Date provided in Section 1.2(c), at the rate of 8% per annum using simple interest computed on a monthly basis for the period from said Annuity Starting Date to the Annuity Starting Date
described in Section 1.2(b); provided, however, that no such increase shall apply after the Participant’s Normal Retirement Date. If payment of the Change in Control Benefit had begun before the Participant’s death, the amount of the
lump sum shall be the present value of the remaining monthly installments as determined in Section 4.2. 

  

	 	(c)	Benefits of Other Participants: If, as of the date of a Change in Control, a Participant is not entitled to a Change in Control Benefit under the preceding provisions of this
Section but is entitled to one or more future payments under Article III or Article V, such benefits shall be paid when, as and in the amount(s) provided in Article III or V, and Article IV if he dies before all benefit payments have been made. If,
as of the date of a Change in Control, any death benefit remains to be paid with respect to a deceased Participant, such death benefit shall be paid when, as and in the amount provided in Article IV. 

  

	6.2	Enlargement of Benefits 

 Notwithstanding any
provision in the Plan to the contrary, the Committee shall have the right prior to (but not after) a Change in Control to unilaterally increase the amount of any benefit for any Participant or Beneficiary. 
  

 13 

 ARTICLE VII 
 CONDITIONS 
  

	7.1	Suicide 

 Notwithstanding any provision in the Plan
to the contrary, if any Participant dies as a result of suicide within 30 months of entering into an ORP Agreement, then the Participant’s benefits under the Plan shall be forfeited, and no benefit shall be paid to the Participant’s
Beneficiary. 
  

	7.2	Noncompetition 

 In the event a Participant, during
the period of the Participant’s employment and for 3 years following the Termination of Employment for any Cause or without Cause, (i) directly or indirectly, engages in the same or similar line of business carried on by any Participating
Company in any territory in which any Participating Company is doing business during the period of one year preceding the Participant’s Termination of Employment, (ii) directly or indirectly, either for the Participant’s own account
or for the account of any other person or entity, hires, solicits or attempts to persuade any employee, agent or consultant of any Participating Company to terminate or alter such person’s relationship with any Participating Company to any
Participating Company’s detriment, or (iii) persuades, encourages or causes, directly or indirectly, any supplier or customer of any Participating Company, including but not limited to any supplier or customer with whom the Participant had
or has material contacts in the course of the Participant’s employment with any Participating Company, to terminate such person’s relationship with any Participating Company or divert any business from any Participating Company, then the
Participant shall forfeit any benefit to which the Participant may be entitled hereunder and within 30 days of a written request of the Company shall reimburse the Company for any benefit paid to Participant hereunder. This Section shall not apply
to any actions which occur after both a Participant’s Termination of Employment and a Change in Control. 
  

	7.3	Forfeiture for Cause 

 Notwithstanding any provision
in the Plan to the contrary, a Participant shall forfeit all rights to any benefits under the Plan if the Participant is Terminated for Cause by any Participating Company. 
  

	7.4	Special Provisions for “Specified Employees” 

 Notwithstanding any other provision of the Plan to the contrary, to the extent applicable, in no event shall a Retirement Benefit or Severance Benefit be made to a “specified employee” within the meaning of Section 409A of
the Code earlier than 6 months after the date of the Participant’s Termination of Employment, except in connection with the Participant’s death. 
  

 14 

 ARTICLE VIII 
 ADMINISTRATION OF THE PLAN 
  

	8.1	Powers and Duties of the Plan Administrator 

 The
Plan Administrator shall have general responsibility for the administration of the Plan (including but not limited to complying with reporting and disclosure requirements and establishing and maintaining Plan records). In the exercise of the Plan
Administrator’s sole and absolute discretion, the Plan Administrator shall interpret the Plan’s provisions (and all ambiguities) and, subject to the Committee’s approval, determine the eligibility of individuals for benefits.

  

	8.2	Agents 

 The Plan Administrator may engage such
legal counsel, certified public accountants and other advisors and service providers, who may be advisors or service providers for one or more Participating Companies, and make use of such agents and clerical or other personnel, as it shall require
or may deem advisable for purposes of the Plan. The Plan Administrator may rely upon the written opinion of any legal counsel or accountants engaged by the Plan Administrator, and may delegate to any person or persons the Plan Administrator’s
authority to perform any act hereunder, including, without limitation, those matters involving the exercise of discretion, provided that such delegation shall be subject to revocation at any time at the discretion of the Plan Administrator.

  

	8.3	Reports to the Committee 

 The Plan Administrator
shall report to the Committee as frequently as the Committee shall specify, with regard to the matters for which the Plan Administrator is responsible under the Plan. 
  

	8.4	Limitations on the Plan Administrator 

 The Plan
Administrator shall not be entitled to act on or decide any matter relating solely to Plan Administrator or any of Plan Administrator’s rights or benefits under the Plan. In the event the Plan Administrator is unable to act in any matter by
reason of the foregoing restriction, the Committee shall act on such matter. The Plan Administrator shall not receive any special compensation for serving in the capacity but shall be reimbursed for any reasonable expenses incurred in connection
therewith. Except as otherwise required by ERISA, no bond or other security shall be required of the Plan Administrator in any jurisdiction. The Plan Administrator or any agent to whom the Plan Administrator delegates any authority, and any other
person or group of persons, may serve in more than one fiduciary capacity with respect to the Plan. 
  

 15 

	8.5	Benefit Elections, Procedures and Calculations 

 The
Plan Administrator shall establish, and may alter, amend and modify from time to time, the procedures pursuant to which Participants and Beneficiaries may make their respective elections, requests and designations under the Plan. The Plan
Administrator shall also establish the election and designation forms that Participants and Beneficiaries must use for such purposes. No election, request or designation by a Participant or a Beneficiary shall be effective unless and until it has
been executed and delivered to the Plan Administrator (or the Plan Administrator’s authorized representative) and has also satisfied any other conditions or requirements that may apply to such election, request or designation under any other
applicable provision of the Plan. 
  

	8.6	Instructions for Payments 

 All requests of or
directions to any Participating Company for payment or disbursement shall be signed by the Plan Administrator or such other person or persons as the Plan Administrator may from time to time designate in writing. This person shall cause to be kept
full and accurate accounts of payments and disbursements under the Plan. 
  

	8.7	Claims for Benefits 

  

	 	(a)	General: In the event a claimant has a claim under the Plan, such claim shall be made by the claimant’s filing a notice thereof with the Plan Administrator. (A claimant
may authorize a representative to act on the claimant’s behalf with respect to the claim.) Each such claim shall be referred to the Plan Administrator for the initial decision with respect thereto. Each claimant who has submitted a claim to the
Plan Administrator shall be afforded a reasonable opportunity to state such claimant’s position and to submit written comments, documents, records, and other information relating to the claim to the Plan Administrator for Plan
Administrator’s consideration in rendering Plan Administrator’s decision with respect thereto. A claimant shall also be provided, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other
information relevant to the claim. 

  

	 	(b)	Plan Administrator’s Decision: The Plan Administrator will consider the claim and make a decision and notify the claimant in writing within a reasonable period of time
but not later than 90 days after the Plan Administrator receives the claim. Under special circumstances, the Plan Administrator may take up to an additional 90 days to review the claim if the Plan Administrator determines that such an extension is
necessary due to matters beyond the Plan Administrator’s control. If this happens, the claimant will be notified before the end of the initial 90-day period of the circumstances requiring the extension and the date by which the Plan
Administrator expects to render a decision. If any part of the claim is denied, the notice will include specific reasons for the denial and specific references to the pertinent Plan provisions on which the denial is based, describe any additional
material or information necessary to file the claim properly and explain why this material or information is necessary, and describe the Plan’s review procedures, including the claimant’s right to bring a civil action under
Section 502(a) of ERISA following an adverse benefits determination on review. 

  

 16 

	 	(c)	Review of Decision: The claimant may have the denial of any part of the claim reviewed. The denial will be reviewed by the Committee. To obtain a review, the claimant must
submit a written request for review to the Committee within 90 days after the claimant receives the written decision of the Plan Administrator. The written request may include written comments, documents, records, and other information relating to
the claim. The claimant will be provided upon request and free of charge reasonable access to and copies of all documents, records, and other information relevant to the claim. 

 The Committee will review the case and notify the claimant of its decision, whether favorable or unfavorable, within a reasonable period of time, but no
later than 60 days after it receives the claim. The review will take into account all comments, documents, records, and other information the claimant submits, without regard to whether such information was submitted or considered in the initial
benefit determination. Under special circumstances, the Committee may take up to an additional 60 days to review the claim if it determines that such an extension is necessary due to matters beyond its control. If this happens, the claimant will be
notified before the end of the initial 60-day period of the circumstances requiring the extension and the date by which the Committee expects to render a decision. 
 The notification to the claimant will be in writing, specify the reasons for its decision, make specific references to the Plan provisions on which the denial was based, and include a statement that the claimant is
entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to the claim and a statement regarding the claimant’s right to bring a civil action under
Section 502(a) of ERISA. 
 The decision of the Committee will be final and conclusive upon all persons interested therein, except to
the extent otherwise provided by applicable law. 
  

	8.8	Hold Harmless 

 To the maximum extent permitted by
law, no member of the Committee or the Plan Administrator shall be personally liable by reason of any contract or other instrument executed by the Plan Administrator or a member of the Committee or on such member’s behalf in such member’s
capacity as a member of the Committee nor for any mistake of judgment made in good faith, and each Participating Company shall indemnify and hold harmless, directly from its own assets (including the proceeds of any insurance policy the premiums of
which are paid from the Company’s own assets), the Plan Administrator and each member of the Committee and each other officer, employee, or director of any Participating Company to whom any duty or power relating to the administration or
interpretation of the Plan against any cost or expense (including counsel fees) or liability (including any sum paid in settlement of a claim with the approval of any Participating Company) arising out of any act or omission to act in connection
with the Plan unless arising out of such person’s own fraud or bad faith or such indemnification is contrary to law. 
  

	8.9	Service of Process 

 The Secretary of the Company or
such other person designated by the Board shall be the agent for service of process under the Plan. 
  

 17 

 ARTICLE IX 
 DESIGNATION OF BENEFICIARIES 
  

	9.1	Beneficiary Designation 

 Every Participant shall
file with the Plan Administrator a written designation of one or more persons as the Beneficiary who shall be entitled to receive the benefits, if any, payable under the Plan after the Participant’s death. A Participant may from time to time
revoke or change such Beneficiary designation by filing a new designation with the Plan Administrator. The last such designation received by the Plan Administrator shall be controlling; provided, however, that no designation, or change or revocation
thereof, shall be effective unless received by the Plan Administrator prior to the Participant’s death, and in no event shall it be effective as of any date prior to such receipt. All decisions of the Committee concerning the effectiveness of
any Beneficiary designation and the identity of any Beneficiary shall be final. If a Beneficiary dies after the death of the Participant and prior to receiving the payment(s) that would have been made to such Beneficiary had such Beneficiary’s
death not occurred, and if no contingent Beneficiary has been designated, then for the purposes of the Plan any remaining payments that would have been received by such Beneficiary shall be made to the Beneficiary’s estate. 
  

	9.2	Failure to Designate Beneficiary 

 If no Beneficiary
designation is in effect at the time of the Participant’s death (including a situation where no designated Beneficiary is alive or in existence at the time of the Participant’s death), the benefits, if any, payable under the Plan after the
Participant’s death shall be made to the Participant’s Surviving Spouse, if any, or if the Participant has no Surviving Spouse, to the Participant’s estate. If the Plan Administrator is in doubt as to the right of any person to
receive such benefits, the Plan Administrator may direct the Participating Company to withhold payment, without liability for any interest thereon, until the rights thereto are determined, or the Plan Administrator may direct the Participating
Company to pay any such amount into any court of appropriate jurisdiction; and such payment shall be a complete discharge of the liability of the Participating Company. 
  

 18 

 ARTICLE X 
 WITHDRAWAL OF PARTICIPATING COMPANY 
  

	10.1	Withdrawal of Participating Company 

 A
Participating Company (other than the Company) may withdraw from participation in the Plan by giving the Board prior written notice approved by resolution by its board of directors or similar governing body specifying a withdrawal date, which shall
be the last day of a month at least 30 days subsequent to the date on which notice is received by the Board. The Participating Company shall withdraw from participating in the Plan if and when it ceases to be either a division of the Company or an
Affiliate. The Committee may require the Participating Company to withdraw from the Plan, as of any withdrawal date the Committee specifies. 
  

	10.2	Effect of Withdrawal 

 A Participating
Company’s withdrawal from the Plan shall not in any way modify, reduce or otherwise affect benefits accrued as of the date of withdrawal. With respect to former Employees, “accrued benefits” are benefits to which the former Employees
are entitled under the provisions of the Plan as the provisions existed immediately before the withdrawal. With respect to Employees, “accrued benefits” are the benefits to which the Employees would be entitled under the provisions of the
Plan as the provisions existed immediately before the withdrawal if their employment had terminated (other than on account of death or Total Disability) on the day before the withdrawal. Withdrawal from the Plan by any Participating Company shall
not in any way affect any other Participating Company’s participation in the Plan. 
  

 19 

 ARTICLE XI 
 AMENDMENT OR TERMINATION OF THE PLAN 
  

	11.1	Right to Amend or Terminate Plan 

  

	 	(a)	By the Board or the Committee: Subject to Subsection (c) of this Section, the Board or the Committee reserves the right at any time to amend or terminate the Plan, in
whole or in part, and for any reason and without the consent of any Participating Company, Participant, or Beneficiary. Each Participating Company by its participation in the Plan shall be deemed to have delegated this authority to the Committee.

  

	 	(b)	By the Plan Administrator: Subject to Subsection (c) of this Section, the Plan Administrator may adopt any ministerial and nonsubstantive amendment which may be
necessary or appropriate to facilitate the administration, management and interpretation of the Plan, provided the amendment does not materially affect the estimated cost to the Participating Companies of maintaining the Plan. Each Participating
Company by its participation in the Plan shall be deemed to have delegated this authority to the Plan Administrator. 

  

	 	(c)	Limitations: In no event shall an amendment or termination of the Plan modify, reduce or otherwise affect benefits accrued as of the date of the amendment or termination.
With respect to former Employees, “accrued benefits” are benefits to which the former Employees are entitled under the provisions of the Plan as the provisions existed immediately before the amendment or termination. With respect to
Employees, “accrued benefits” are the benefits to which the Employees would be entitled under the provisions of the Plan as the provisions existed immediately before the amendment or termination if their employment had terminated without
Cause (other than on account of death or Total Disability) on the day before the amendment or termination. Notwithstanding the preceding provisions of this Subsection, from and after the date of a Change in Control no amendment or termination may be
made to the Plan that, without the express written consent of the affected Participant or Beneficiary (as the case may be), directly or indirectly changes the amount, time or method of payment of (i) any Change in Control Benefit resulting from
the Change in Control or (ii) any Retirement Benefit, Severance Benefit, death benefit or other benefit that had accrued by the date of the Change in Control. 

  

	 	(d)	Effect of Amendment and Restatement: This amendment and restatement of the Plan shall not affect the time, amount or method of payment of Plan benefits paid on or after the
Effective Date to any Participant whose employment with the Company terminated on or before the Effective Date, and such Participant’s benefits (including any death benefits) shall be determined under the provisions of the Plan as in effect
immediately prior to the Effective Date; provided, however, upon a Change in Control, the provisions of Section 6.1(c) and Subsection (c) of this Section shall apply to any remaining benefits of such Participant. 

 

	11.2	Notice 

 Notice of any amendment or termination of
the Plan shall be given by the Board or the Committee, whichever adopts the amendment, to the other and to all Participating Companies. 
  

 20 

 ARTICLE XII 
 GENERAL PROVISIONS AND LIMITATIONS 
  

	12.1	No Right to Continued Employment 

 Nothing contained
in the Plan shall give any Employee the right to be retained in the employment of any Participating Company or affect the right of any such employer to dismiss any Employee with or without Cause. The adoption and maintenance of the Plan shall not
constitute a contract between any Participating Company and Employee or consideration for, or an inducement to or condition of, the employment of any Employee. Unless a written contract of employment has been executed by a duly authorized
representative of a Participating Company, such Employee is an “employee at will.” 
  

	12.2	Payment on Behalf of Payee 

 If the Plan
Administrator finds that any person to whom any amount is payable under the Plan is unable to care for such person’s affairs because of illness or accident, or is a minor, or has died, then any payment due such person or such person’s
estate (unless a prior claim therefor has been made by a duly appointed legal representative) may, if the Plan Administrator so elects, be paid to such person’s spouse, a child, a relative, an institution maintaining or having custody of such
person, or any other person deemed by the Plan Administrator to be a proper recipient on behalf of such person otherwise entitled to payment. Any such payment shall be a complete discharge of the liability of the Plan and every Participating
Company. 
  

	12.3	Nonalienation 

 No interest, expectancy, benefit,
payment, claim or right of any Participant or Beneficiary under the Plan shall be (a) subject in any manner to any claims of any creditor of the Participant or Beneficiary, (b) subject to the debts, contracts, liabilities or torts of the
Participant or Beneficiary or (c) subject to alienation by anticipation, sale, transfer, assignment, bankruptcy, pledge, attachment, charge or encumbrance of any kind. If any person attempts to take any action contrary to this Section, such
action shall be null and void and of no effect; and the Plan Administrator and the Participating Company shall disregard such action and shall not in any manner be bound thereby and shall suffer no liability on account of its disregard thereof.

 If any Participant or Beneficiary hereunder becomes bankrupt or attempts to anticipate, alienate, sell, assign, pledge, encumber, or charge
any right hereunder, then such right or benefit shall, in the discretion of the Plan Administrator, cease and terminate; and in such event, the Plan Administrator may hold or apply the same or any part thereof for the benefit of the Participant or
Beneficiary or the spouse, children, or other dependents of the Participant or Beneficiary, or any of them, in such manner and in such amounts and proportions as the Plan Administrator may deem proper. 
  

 21 

	12.4	Missing Payee 

 If the Plan Administrator cannot
ascertain the whereabouts of any person to whom a payment is due under the Plan, and if, after five years from the date such payment is due, a notice of such payment due is mailed to the last known address of such person, as shown on the records of
the Plan Administrator or any Participating Company, and within three months after such mailing such person has not made written claim therefore, the Plan Administrator if the Plan Administrator so elects, after receiving advice from counsel to the
Plan, may direct that such payment and all remaining payments otherwise due to such person be canceled on the records of the Plan and the amount thereof forfeited; and upon such cancellation, the Participating Company shall have no further liability
therefore, except that, in the event such person later notifies the Plan Administrator of such person’s whereabouts and requests the payment or payments due to such person under the Plan, the amounts otherwise due but unpaid shall be paid to
such person without interest for late payment. 
  

	12.5	Required Information 

 Each Participant shall file
with the Plan Administrator such pertinent information concerning himself or herself, such Participant’s Beneficiary, or such other person as the Plan Administrator may specify; and no Participant, Beneficiary, or other person shall have any
rights or be entitled to any benefits under the Plan unless such information is filed by or with respect to the Participant. 
  

	12.6	No Trust or Funding Created 

 The obligations of
each Participating Company to make payments hereunder constitutes a liability of such Participating Company to a Participant or Beneficiary, as the case may be. Such payments shall be made from the general funds of the Participating Company; and the
Participating Company shall not be required to establish or maintain any special or separate fund, or purchase or acquire life insurance on a Participant’s life, or otherwise to segregate assets to assure that such payment shall be made; and
neither a Participant nor a Beneficiary shall have any interest in any particular asset of the Participating Company by reason of its obligations hereunder. Nothing contained in the Plan shall create or be construed as creating a trust of any kind
or any other fiduciary relationship between any Participating Company and a Participant or any other person, it being the intention of the parties that the Plan be unfunded for tax purposes and for Title I of ERISA. The rights and claims of a
Participant or a Beneficiary to a benefit provided hereunder shall have no greater or higher status than the rights and claims of any other general, unsecured creditor of any Participating Company; and the Plan constitutes a mere promise to make
benefit payments in the future. 
  

	12.7	Binding Effect 

 Obligations incurred by any
Participating Company pursuant to the Plan shall be binding upon and inure to the benefit of such Participating Company, its successors and assigns, and the Participant and the Participant’s Beneficiary. 
  

 22 

	12.8	Merger or Consolidation 

 In the event of a merger
or a consolidation by any Participating Company with another corporation, or the acquisition of substantially all of the assets or outstanding stock of a Participating Company by another corporation, then and in such event the obligations and
responsibilities of such Participating Company under the Plan shall be assumed by any such successor or acquiring corporation; and all of the rights, privileges and benefits of the Participants and Beneficiaries hereunder shall continue. 

 

	12.9	Entire Plan 

 This document, any elections provided
for in the Plan, any written amendments hereto and the ORP Agreements contain all the terms and provisions of the Plan and shall constitute the entire Plan, any other alleged terms or provisions being of no effect. 
  

	12.10	Withholding 

 Each Participating Company shall
withhold from benefit payments all taxes required by law. 
  

	12.11	Compliance with Section 409A of the Code 

 The
Plan is intended to comply with Section 409A of the Code. Notwithstanding any provision of the Plan to the contrary, the Plan shall be interpreted, operated and administered consistent with this intent. 
  

	12.12	Construction 

 Unless otherwise indicated, all
references to articles, sections and subsections shall be to the Plan as set forth in this document. The titles of articles and the captions preceding sections and subsections have been inserted solely as a matter of convenience of reference only
and are to be ignored in any construction of the provisions of the Plan. Whenever used herein, unless the context clearly indicates otherwise, the singular shall include the plural and the plural the singular. 
  

	12.13	Applicable Law 

 The Plan shall be governed and
construed in accordance with the laws of the State of Delaware, except to the extent such laws are preempted by the laws of the United States of America. 
  

 23 

 IN WITNESS WHEREOF, the Company has caused this Plan to be executed this 7th day of December, 2005. 
  

			
	COCA-COLA BOTTLING CO. CONSOLIDATED
		
	By:	 	 /s/ Henry W. Flint

	Officer’s Name:	 	 Henry W. Flint

	Officer’s Title:	 	 Executive Vice President and Assistant to the Chairman

  

 24 

 EXHIBIT A 
 ORP AGREEMENT 
 THIS ORP AGREEMENT is made this      day of
                    , 200  , by and between Coca-Cola Bottling Co. Consolidated (the “Company”) and
                                        ,
an employee of the Participating Company (the “Participant”). 
 W I T NE S S E T H : 
 WHEREAS, the Company has adopted the Coca-Cola Bottling Co. Consolidated Officer Retention Plan (the “Plan”) for the purpose of providing
additional incentives to a select group of highly compensated or management employees of the Participating Company; and 
 WHEREAS, the
Participant has been selected for participation in the Plan; and 
 WHEREAS, this Agreement is made to evidence the Participant’s
participation in the Plan and to set forth certain bases for determining the Participant’s benefits under the Plan. 
 NOW, THEREFORE,
the Company and the Participant hereby agree as follows: 
 1. Incorporation of Plan. The Plan (and all its provisions), as it now
exists and as it may be amended hereafter, is incorporated herein and made a part of this Agreement. 
 2. Definitions. When used
herein, terms that are defined in the Plan shall have the meanings given them in the Plan unless a different meaning is clearly required by the context. 
 3. No Interest Created. Neither the Participant, the Participant’s Beneficiary, nor any other person claiming under the Participant shall have any interest in any assets of the Company, including policies
of insurance. The Participant and such Beneficiary shall have only the right to receive benefits under and subject to the terms and provisions of the Plan and this Agreement. 
 4. Benefits. The amount of the Participant’s benefits, if any, shall be determined according to the Schedule attached hereto and made a part
hereof. 
 5. Benefit Elections. The Participant may make an election regarding the form of payment of the Participant’s
Retirement Benefit and Severance Benefit and the form and timing of payment of the Participant’s Change in Control Benefit on an election form provided by the Plan Administrator. To be effective, such elections must be filed with the Plan
Administrator within 30 days following the date of this Agreement. Such elections shall become irrevocable 30 days from the date of this Agreement; no subsequent change to the election is permitted. 
 6. Noncompetition. As provided in the Plan, the Company shall have no obligation to pay any benefits to or on behalf of the Participant if, within
3 years of Termination of Employment, the Participant competes with or becomes interested in a business which competes with any Participating Company. This provision shall not apply, however, if the Participant’s Termination of Employment
occurs after a Change in Control. 
  

 Exhibit A-1 

 7. Suicide. As provided in the Plan, the Company shall have no obligation to pay any benefits on
behalf of the Participant if the Participant commits suicide within 30 months of date of this Agreement. If this Agreement replaces a prior ORP Agreement evidencing the Participant’s participation in the Plan, this 30 month period shall be
measured from the date of the prior ORP Agreement. 
 8. Governing Law. This Agreement and all rights thereunder shall be construed
and enforced in accordance with the Employee Retirement Income Security Act of 1974, as amended, and, to the extent that state law is applicable, the laws of the State of Delaware. 
 9. Notices. Whenever notices are required by the Plan, they shall be deemed given if sent by first class mail, postage prepaid, to the parties of
the following addresses or at such other addressee as may be designated in writing by the applicable party: 
  

					
		  	Coca-Cola Bottling Co. Consolidated
		  	4100 Coca-Cola Plaza
		  	Charlotte, North Carolina 28211
		  	Attention: Plan Administrator

									
					
	 b.
	  	Participant:	  	  
	  		  	
		  		  	  
	  		  	
		  		  	  
	  		  	

 10. Entire Agreement. This Agreement contains the entire agreement and understanding of the
Company and the Participant with respect to the matters contained herein and supersedes and replaces all prior agreements and understandings, written or oral, with respect thereto. Not in limitation of the foregoing, if the Participant has
participated in the Plan, this Agreement supercedes and replaces any prior ORP Agreement evidencing the Participant’s participation in the Plan. 
 11. Receipt of Plan. The Participant acknowledges the receipt of a copy of the Plan. 
 IN WITNESS
WHEREOF, the parties have executed this Agreement on the day and year first above written. 
  

			
	COCA-COLA BOTTLING CO. CONSOLIDATED
		
	By:	 	  

	Officer’s Name:	 	  

	Officer’s Title:	 	  

	
	  

	Participant	 	

  

 Exhibit A-2 

 SCHEDULE TO ORP AGREEMENT 
 _________________________________________ 
 Name of Participant 
  

					
	 Plan Year
	  	Age	  	 Benefit Earned
 (subject to vesting)

		  		  	
		  		  	
		  		  	

  

 Exhibit A-3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}]]