Document:

Exhibit 10.24

    
      

    

     

    Exhibit
      10.24

    
 

    November
      22, 2006

    

    

    Dear
      August,

    

    This
      letter is intended to set forth certain agreements and understandings between
      you and Anheuser-Busch Companies, Inc. (the “Company”).

    

    You
      and
      the Company’s Board of Directors (the “Board”) have agreed that commencing on
      December 1, 2006 you will provide consulting and advisory services to the
      Company as requested by the Board (the “Services”), which will be distinct from
      any responsibilities you have as a member of the Board. The term of this
      agreement is a six-year period ending on November 30, 2012. 

    

    As
      an
      independent consultant you will determine the manner in which you provide the
      Services requested. You will not be required to adhere to a designated schedule
      of hours, and you will not devote more than 130 days in any calendar year to
      such Services. You are free to provide services to other clients as long as
      the
      business of such clients does not compete with any of the Company’s
      businesses.

    

    The
      Company may provide you with an office, support services and equipment to more
      efficiently execute such Services for the duration of this agreement. The
      Company may also provide your transportation related to the Services consistent
      with the Company’s current practices, and reimburse your reasonable
      business-related expenses in accordance with the Company’s Travel Policy as it
      applies to executive travel. The Company will also provide draught beer services
      and packaged products to your residence as you may request.

    

    Given
      your many years as the public spokesman and leader of the Company, and as you
      will continue to be in a highly visible and public position in retirement as
      a
      member of the founding Busch family, the Company believes that it is in its
      best
      interest to provide security protection for you and your residence during the
      term of this agreement. 

    

    Further,
      during the term of this agreement, you and the Company agree that the aircraft
      lease agreement between the Company and Ginnaire Rental, Inc. (“Ginnaire”) will
      remain in effect. The Company will also provide fuel, hangar and maintenance
      services for aircraft owned by you or by Ginnaire. You or Ginnaire will
      reimburse the Company for these costs consistent with current
      practices.

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    

    August
      A.
      Busch III

    November
      22, 2006

    Page
      2

    

    

    The
      parties agree that Anheuser-Busch, Inc. will remain obligated under the terms
      of
      the Indemnification Agreement dated July 15, 2002 with respect to all claims
      arising or related to occurrences on or prior to your November 30, 2006
      retirement. In connection with any claims asserted against you arising or
      related to your performance of consulting and advisory services, the Company
      agrees that you shall have the same indemnification rights against the Company
      that would have been available to you had you remained an officer of the
      Company.

    

    You
      will
      be providing Services to the Company as an independent consultant, and no
      provision of, or any action taken under, this agreement shall in any way affect
      your rights under any Company deferred compensation, employee benefit, welfare
      or retirement plan. 

    

    On
      behalf
      of the Board of Directors and shareholders of the Company, I want to thank
      you
      for your willingness to serve the Company in this new role. If this letter
      correctly reflects the agreement of the parties with respect to the matters
      addressed herein, please execute two copies of this letter and return one fully
      executed copy to me. 

    

    

    Sincerely,

    

    Anheuser-Busch
      Companies, Inc.

    

    

    

    
      	
              By:

            	
               
                /s/ Vernon
                R. Loucks
                Jr.                          
                                            
                

            
	 	
              Vernon
                R. Loucks Jr.

            
	 	
              Chairman,
                Compensation Committee, Board of Directors

            
	 	
              Anheuser-Busch
                Companies, Inc.

            

    

    

    

    Acknowledged
      and agreed to this    22
           day of        
      Nov.       , 2006

    

    
      	
              /s/
                August
                A. Busch
                III                           
                

            
	
              August
                A. Busch IIIExhibit 10.25

    
      

    

    Exhibit
      10.25

    
 

    November
      22, 2006

    

    

    Dear
      Pat,

    

    This
      letter is intended to set forth certain agreements and understandings between
      you and Anheuser-Busch Companies, Inc. (the “Company”).

    

    You
      and
      the Company have agreed that the Company will transfer title to your current
      Company car to you within thirty (30) days of your November 30, 2006
      retirement.

    

    You
      and
      the Company’s Board of Directors (the “Board”) have agreed that commencing on
      March 1, 2007 you will provide consulting and advisory services to the Company
      as requested by the Board (the “Services”), which will be distinct from any
      responsibilities you have as a member of the Board. The term of such Services
      shall end on August 31, 2009. After March 1, 2008, either you or the Company
      may
      terminate this agreement upon 30 days prior written notice. In the event of
      an
      early termination by either party, you will be entitled to compensation through
      the end of the calendar quarter in which termination occurs.

    

    As
      an
      independent consultant you will determine the manner in which you provide the
      Services requested. You will not be required to adhere to a designated schedule
      of hours, and you will not devote more than 130 days in any calendar year to
      such Services. You are free to provide services to other clients as long as
      the
      business of such clients does not compete with any of the Company’s
      businesses.

    

    The
      Company may provide you with an office, support services and equipment to more
      efficiently execute such Services for the duration of this agreement. The
      Company may also provide your transportation related to the Services consistent
      with the Company’s current practices, and reimburse your reasonable
      business-related expenses in accordance with the Company’s Travel Policy as it
      applies to executive travel. The Company will also provide draught beer services
      and packaged products to your residence as you may request.

    

    
      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

    Patrick
      T. Stokes

    November
      22, 2006

    Page
      2

    

    

    In
      consideration for your providing Services, during the term of this agreement,
      the Company will pay you a quarterly retainer of $187,500.00, less applicable
      withholding, with the first quarterly payment due on or about March 1, 2007,
      and
      the last quarterly payment due on or about June 1, 2009. 

    

    The
      parties agree that Anheuser-Busch, Inc. will remain obligated under the terms
      of
      the Indemnification Agreement dated July 15, 2002 with respect to all claims
      arising or related to occurrences on or prior to your November 30, 2006
      retirement. In connection with any claims asserted against you arising or
      related to your performance of consulting and advisory services, the Company
      agrees that you shall have the same indemnification rights against the Company
      that would have been available to you had you remained an officer of the
      Company.

    

    You
      will
      be providing Services to the Company as an independent consultant, and no
      provision of, or any action taken under, this agreement shall in any way affect
      your rights under any Company deferred compensation, employee benefit, welfare
      or retirement plan. 

    

    On
      behalf
      of the Board of Directors and shareholders of the Company, I want to thank
      you
      for your willingness to serve the Company in this new role. If this letter
      correctly reflects the agreement of the parties with respect to the matters
      addressed herein, please execute two copies of this letter and return one fully
      executed copy to me. 

    

    

    Sincerely,

    

    Anheuser-Busch
      Companies, Inc.

    

    
      	
              By:

            	
              /s/
                Vernon
                R. Loucks
                Jr.                                                   
                

            
	 	
              Vernon
                R. Loucks Jr.

            
	 	
              Chairman,
                Compensation Committee, Board of Directors

            
	 	
              Anheuser-Busch
                Companies, Inc.

            

    

    

    

    Acknowledged
      and agreed to this     
22        day
      of       
Nov.       , 2006

    

    
      	
              /s/
Patrick
                T.
                Stokes                                              
                

            
	
              Patrick
                T. Stokes

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