Document:

Employment Termination Agreement

 Exhibit 10.2 
 Monday, March 24, 2008 
 WITHOUT PREJUDICE  
 DELIVERED TO: 
 Brent Willis 
 Dear Brent;

 We are writing to notify you that your employment with Cott is hereby terminated without cause, effective Monday, March 24, 2008. To the extent not
defined herein, capitalized terms in this letter shall have the meanings given to them in your Employment Agreement with Cott dated May 16, 2006 (the “Employment Agreement”). 
 Cott appreciates your contribution to the corporation and with a view to resolving all matters on an amicable basis, has prepared the following severance arrangements:

  

	1.	Date of Termination 

 The effective date of termination of
employment is Monday, March 24, 2008 (the “Termination Date”). 
  

	2.	Accrued Salary and Vacation Pay 

 You will be paid your Base Salary,
car allowance and accrued vacation pay to the Termination Date. These payments will be less applicable statutory deductions and withholdings and paid in a lump-sum payment during the next pay period immediately following the Termination Date.

  

	3.	Severance Payment 

 As outlined in Section 5.2 of your
Employment Agreement, we have mutually agreed to a lump-sum payment equal to 2 times your Base Salary, 2 times your Target Bonus, a prorated Target Bonus for the current year and the equivalent value of 136,000 shares of Cott stock, based on closing
price on NYSE as of March 20, 2008 (closing price on last day prior to your termination date). You will receive these payments within 30 days of your termination date in accordance with your Employment Agreement and a break down of the payments
is shown below. 
 In lieu of 30 days notice as provided in your Employment Agreement under Section 1.1, we are offering to pay this amount as part of
your severance. In the event that you do not accept these terms this letter is to be taken as your notice of termination pursuant to Section 1.1 of your Employment Agreement. 
 The total payment will be equal to $3,468,733 (three million, four hundred and sixty eight dollars and seven hundred and thirty three dollars) less applicable withholdings, calculated as the sum of the
following: 
  

	 	•	 	 Annual Base Salary ($725,000) + Target Bonus ($725,000) x 2 = a total amount of $2,900,000.00  

  

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	 	•	 	 Pro-rated Target Bonus equal to 2 months and 24 days: $180,423.00 

  

	 	•	 	 One months full pay in lieu of 30 days notice as per Section 1.1 of your Employment Agreement (includes pro-rated bonus, car allowance and benefits
continuation) = $122,334.00 

  

	 	•	 	 Buy Out of Annual Medical Assessment (including tax gross up) = $15,736.00 

  

	 	•	 	 136,000 shares of Cott Stock X $1.84 (closing price on NYSE as of March 20, 2008) = $250,240.00  

  

	4.	Long Term Incentive Awards 

 Your participation in the Performance
Share Unit Plan will cease with immediate effect on your Termination Date. The Performance Share Unit (PSU) awards provided to you in 2006 and 2007 will be pro-rated based on your Termination Date plus 1 months notice as detailed below. The prorated
PSUs may become payable to you based on the performance goals of the PSU plan being achieved as provided for in the plan, and as approved by the Board. Such payouts will be determined at the end of the performance cycle for each plan and will be
payable at the same time that such payouts are made to other participants. 
  

			
	 2006 Awards:
	  	2 years and 4 months prorated PSUs equals 95,254 PSU’s
		
	 2007 Awards:
	  	1 year and 4 months prorated PSUs equals 42,419 PSU’s

 Total PSU Units is equal to 137,673 Units 
  

	5.	Benefits 

 We confirm that, to the extent Cott may do so legally and
in compliance with its benefit plans, the following benefits will continue for a period of 25 months (24 months plus 30 days notice) following the Termination Date or until alternative employment is secured that provides comparable benefits:
Extended Health Care, Dental and Vision, Basic Life and AD&D and Executive Long Term Care Insurance, and Executive Life Insurance. 
  

	6.	Expenses 

 To the extent that you have incurred any proper travel,
entertainment or other business expenses, you will be reimbursed in accordance with Cott’s policy. All expense reports must be submitted within 30 days of your Termination Date. 
  

	7.	On Hire Cash Award to Purchase Cott Stock & Share Purchase Plan/401k plan 

 All of your rights with respect to the cash award provided to you on hire to purchase Cott stock and hold for a minimum of three (3) years will become your property and the holding requirement of 3 years no
longer enforced. 
 All other rights under Cott’s share purchase plans (other than the PSU Plan under which your entitlement shall be as described as
above) and other long-term incentive plans, including, without limitation, all rights to unvested shares under the 401k Plan and Employee Share Purchase Plan shall 

  

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terminate on the Termination Date in accordance with those plans. Rights under these plans that have vested as of the Termination Date will continue in
accordance with and subject to the terms of the applicable plans. 
  

	8.	No Other Payments 

 The payments and other entitlements set
out in this letter, including the attached schedules, constitute your complete entitlement and Cott’s complete obligations whatsoever, including with respect to the cessation of your employment, whether at common law, statute or contract. For
greater certainty, we confirm that you are not entitled to any further payment (including any bonus payments), benefits, perquisites, allowances or entitlements earned or owing to you from Cott pursuant to any employment or any other agreement,
whether written or oral, whatsoever, all having ceased on the Termination Date without further obligation from Cott. All amounts paid to you pursuant to this letter shall be deemed to include all amounts owing pursuant to the Employment
Standards Act, 2000 and any applicable state wage payment or wage collection law, and such payments represent a greater right or benefit than that required under the Employment Standards Act, 2000
and any applicable state wage payment or wage collection law. 
  

	9.	Resignation & Release 

 You will resign as an officer and
director of Cott (and any direct and indirect affiliates, subsidiaries and associated companies) with effect as of the Termination Date. In this respect, you agree to execute and deliver the Resignation Notice attached hereto as Schedule
“1” and such further documentation as may be required by Cott, in its sole discretion, in order to effect this resignation. You agree to sign the Release Agreement in the form attached as Schedule “2” to this letter, which is a
condition precedent to you receiving any severance payments hereunder that are in excess of payments required by statute. 
  

	10.	Your Continuing Obligations To Cott 

 You will continue to abide by
all of the provisions of your Employment Agreement through the Termination Date and thereafter following the cessation of your employment including but not limited to those set out in Article 4 of your Employment Agreement, including the
Confidentiality, Inventions, Restrictive Covenant, and Non Disparagement provisions contained therein. 
  

	 	(a)	You are required to return to Cott within five (5) business days of the Termination Date all of the property of Cott in your possession or in the possession of your family or
agents including, without limitation, wireless devices and accessories, computer and office equipment, keys, passes, credit cards, customer lists, sales materials, manuals, computer information, software and codes, files and all documentation (and
all copies thereof) dealing with the finances, operations and activities of Cott, its clients, employees or suppliers. 

  

	 	(b)	You will maintain the severance arrangements as set out in this letter, to the extent such arrangements have not otherwise been publicly disclosed, in the strictest confidence and
will not disclose them except to your immediate family, or to the extent that such disclosure may be required by law, or to permit you to obtain tax planning, legal or similar advice 

  

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	 	(c)	You will agree to cooperate reasonably with Cott, and its legal advisors, at Cott’s request, direction and reasonable cost, in connection with: (i) any Cott business
matters in which you were involved during your employment with Cott; or (ii) any existing or potential claims, investigations, administrative proceedings, lawsuits and other legal and business matters which arose during your employment
involving Cott; (iii) effecting routine administrative compliance with respect to any regulatory requirements that were applicable to Cott during the period of your employment; and (iv) completing any further documents required to give
effect to the terms set out in this letter with respect to which you have knowledge of the underlying facts. 

  

	 	(d)	You acknowledge that, for greater certainty, neither Cott nor its Affiliates shall be responsible for any damages, taxes, penalties, interest, expenses and any other costs imposed
under, in connection with, or related to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), with respect to payments and benefits provided pursuant to Section 4 of this letter agreement, provided that
Cott complies with the provisions of the PSU plan currently in effect with respect to such payments. 

  

	10.	Cott’s Continuing Obligations To You 

 Cott agrees to continue
to abide by all the provisions of your Employment Agreement through the Termination date and thereafter following the cessation of your employment including but not limited to those set forth in Section 5.9 relating to No Litigation or Set-off
and Section 6.2 and 6.3 relating to Directors and Officers Liability Insurance and Indemnification. 
  

	11.	Taxes 

 All payments referred to in this letter will be less
applicable withholdings and deductions, and you shall be responsible for all tax liability resulting from your receipt of the payment and benefits referred to in this letter, except (i) to the extent that Cott has withheld funds for remittance
to statutory authorities, and (ii) to the extent provided otherwise in your Employment Agreement with respect to any tax gross-up payment. 
  

	12.	General 

  

	 	(a)	Entire Agreement: The agreement confirmed by this letter and the attached schedules constitutes the entire agreement between you and Cott with reference to any of the matters
herein provided or with reference to your employment or office with Cott, or the cessation thereof. All promises, representations, collateral agreements, offers and understandings not expressly incorporated in this letter agreement are hereby
superseded and have no further effect. 

  

	 	(b)	Severability: The provisions of this letter agreement shall be deemed severable, and the invalidity or unenforceability of any provision set out herein shall not affect the
validity or enforceability of the other provisions hereof, all of which shall continue in accordance with their terms. 

  

	 	(c)	 Full Understanding: By signing this letter, you confirm that: (i) you have had an adequate opportunity to read and consider the terms set out herein,
including the Release Agreement attached, and that you fully understand them and their 

  

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consequences; (ii) you have been advised, through this paragraph, to consult with legal counsel and have obtained such legal or other advice as you
consider advisable with respect to this letter agreement, including attachments; (iii) you have consulted with legal counsel regarding the application of Section 409A of the Code to the payments and benefits provided pursuant to this
letter agreement; (iv) you are signing this letter voluntarily, without coercion, and without reliance on any representation, express or implied, by Cott, or by any director, trustee, officer, shareholder, employee or other representative of
Cott; and (v) you have been provided with the 21-day consideration period and seven-day revocation period described in the attached Release Agreement. 

  

	 	(d)	Arbitration: In the event any dispute arises between you and Cott with respect to the interpretation, effect or construction of any provisions of this Agreement, either Cott
or you may refer the matter to final and binding arbitration without right of appeal, pursuant to the Arbitration Act of Ontario, as applicable, for the disputed matters to be determined by an arbitrator that is to be mutually agreed upon, upon
written notice to the other, whereupon, subject to the availability of such an arbitrator, the arbitration hearing will commence within 30 days of the said notice, without formality, with the costs of the arbitration to be shared equally between the
parties, subject to such order for costs as the arbitrator may determine in his or her sole discretion. The arbitration shall be conducted pursuant to the then-existing rules and regulations of the Arbitration Act of Ontario to the extent not
inconsistent with this letter agreement. 

  

	 	(e)	Currency: All dollar amounts set forth or referred to in this letter refer to US currency. 

  

	 	(f)	Governing Law: To the extent the laws of Canada must apply, the agreement confirmed by this letter shall be governed by the Ontario law. 

 If this offer is acceptable to you once you have had an opportunity to review it, please sign the acknowledgement below to confirm your acceptance of same and return to
Abilio Gonzalez at the Tampa Office. If you have any questions regarding the terms set out in this letter, please feel free to contact myself or Abilio Gonzalez. 
 Yours very truly, 
 COTT CORPORATION 
 Per:
             

					
	 /s/  Juan R. Figuereo
	 	 /s/  Matthew A. Kane, Jr.
	 	
		 		 	

 Enclosures: Schedule “1” – Resignation Notice & Schedule “2” –
Release Agreement 
 Acknowledgement and Acceptance 
 I
acknowledge that I have been provided 21 days to review this letter and the attached Release Agreement and Resignation Notice, which I acknowledge is a reasonable period of time, and seven days thereafter to revoke the letter agreement and attached
Release Agreement, if I so 

  

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choose. I also acknowledge that I have been advised, by this paragraph, and have had the opportunity to obtain independent legal advice and that the only
consideration for the attached Release Agreement is as referred to in this letter and the Release Agreement. I confirm that no other promises or representations of any kind have been made to me to cause me to sign this acknowledgement and
acceptance. 
  

					
			
	/s/  Brent Willis	 		 	7 April 2008
	Brent Willis 	 		 	Date

  

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 SCHEDULE “1” 
 RESIGNATION NOTICE 
  

			
		
	TO:	  	COTT CORPORATION
		
	AND TO:	  	ALL DIRECT AND INDIRECT AFFILIATES, SUBSIDIARIES AND ASSOCIATED COMPANIES THEREOF
		
	AND TO:	  	ALL DIRECTORS THEREOF

 I, Brent Willis confirm my resignation as a director and from all offices held by me of Cott Corporation,
including all direct and indirect affiliates, subsidiaries, and associated companies, with effect as of March 24th 2008. 
  

	
	
	/s/  Brent Willis
	Brent Willis

  

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 SCHEDULE “2” 
 RELEASE AGREEMENT 
 In consideration of the mutual promises, payments and benefits provided for in
the annexed Letter Agreement to which this Release Agreement is a Schedule (the “Severance Agreement”), and the release from Brent Willis (the “Employee”) set forth herein, Cott Corporation (the “Corporation”) and the
Employee agree to the terms of this Release Agreement. Capitalized terms used and not defined in this Release Agreement shall have the meanings assigned thereto in the Severance Agreement. 
 1. The Employee acknowledges and agrees that the Corporation is under no obligation to offer the Employee the payments and benefits set forth in the
annexed Severance Agreement, unless the Employee consents to the terms of this Release Agreement. The Employee further acknowledges that he/she is under no obligation to consent to the terms of this Release Agreement and that the Employee has
entered into this agreement freely and voluntarily. 
 2. In consideration of the payment and benefits set forth in the annexed Severance
Agreement and the Corporation’s release set forth in paragraph 5, the Employee voluntarily, knowingly and willingly releases and forever discharges the Corporation and its Affiliates, together with its and their respective officers, directors,
partners, shareholders, employees and agents, and each of its and their predecessors, successors and assigns (collectively, “Releasees”), from any and all charges, complaints, claims, promises, agreements, controversies, causes of action
and demands of any nature whatsoever that the Employee or his/her executors, administrators, successors or assigns ever had, now have or hereafter can, shall or may have against the Releasees by reason of any matter, cause or thing whatsoever
arising out of or relating to the Employee’s employment relationship, or position as a director and officer, with the Corporation or its affiliates or the termination or resignation thereof, prior to the time of signing of this Release
Agreement by the Employee. The release being provided by the Employee in this Release Agreement includes, but is not limited to, any rights or claims under any statute, including, but not limited to the Employment Standards Act, 2000, the Human
Rights Code, the Workplace Safety and Insurance Act re-employment provisions, the Occupational Health & Safety Act, the Pay Equity Act, the Labour Relations Act, Title VII of the Civil Rights Act of 1964, the Age
Discrimination in Employment Act, as amended by the Older Workers’ Benefit Protection Act, the Family and Medical Leave Act, and the Americans With Disabilities Act, or pursuant to any other applicable law or legislation governing or related to
his/her employment or other engagement with the Corporation. In no event shall this Release apply to the Employee’s right, if any, to indemnification, under the Employee’s employment agreement or otherwise, that is in effect on the date of
this Release and, if applicable, to the Corporation’s obligation to maintain in force reasonable director and officer insurance in respect of such indemnification obligations. 
 3. The Employee acknowledges and agrees that he/she shall not, directly or indirectly, seek or further be entitled to any personal recovery in any
lawsuit or other claim against the Corporation or any other Releasee based on any event arising out of the matters released in paragraph 2. 
 4. Nothing herein shall be deemed to release: (i) any of the Employee’s rights under the Plan; or (ii) any of the vested benefits that the Employee has accrued prior to the date this Release Agreement is executed by the
Employee under the employee benefit plans and arrangements of the Corporation or any of its Affiliates; or (iii) any claims that may arise after the date this Release Agreement is executed. 
  

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 5. In consideration of the Employee’s release set forth in paragraph 2, the Corporation knowingly
and willingly releases and forever discharges the Employee from any and all charges, complaints, claims, promises, agreements, controversies, causes of action and demands of any nature whatsoever that the Corporation now has or hereafter can, shall
or may have against him/her by reason of any matter, cause or thing whatsoever arising prior to the time of signing of this Release Agreement by the Corporation, provided, however, that nothing herein is intended to release any claim the Corporation
may have against the Employee for any illegal conduct or arising out of any illegal conduct. 
 6. The Employee acknowledges that he/she has
carefully read and fully understands all of the provisions and effects of the Plan and this Release Agreement. The Employee also acknowledges that the Corporation, by this paragraph and elsewhere, has advised him/her to consult with an attorney of
his/her choice prior to signing this Release Agreement. The Employee represents that, to the extent he/she desires, he/she has had the opportunity to review this Release Agreement with an attorney of his/her choice. 
 7. The Employee acknowledges that he/she has been offered the opportunity to consider the terms of the Letter Agreement and this Release Agreement for a
period of at least twenty-one (21) days, although he/she may sign it sooner should he/she desire. The Employee further shall have seven (7) additional days from the date of signing this Release Agreement to revoke his/her consent hereto by
notifying, in writing, the Chief People Officer of the Corporation. This Release Agreement will not become effective until seven days after the date on which the Employee has signed it without revocation. 
 Dated: 
  

			
	
	/s/  Brent Willis
		
	Employee Name:	 	
		
	Cott Corporation	 	
		
	Per:	 	
		
		 	/s/  Matthew A. Kane, Jr.
		
		 	 Name & Title: Matthew A. Kane, Jr.
 Vice
President, General Counsel and Secretary

		
		 	/s/  Juan R. Figuereo
		
		 	 Name & Title: Juan R. Figuereo
 Chief Financial
OfficerEmployment Agreement

 Exhibit 10.3 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT is made this 23rd day of April, 2008 to be
effective from and after March 24, 2008 (the “Effective Date”), by and between DAVID T. GIBBONS (“Executive”) and COTT CORPORATION, a corporation incorporated under the laws of Canada (the “Company”). 

WHEREAS, the Company desires to employ the Executive and the Executive desires to enter into employment with the Company on the terms and conditions
set forth herein. 
 NOW, THEREFORE, in consideration of the promises and agreements set forth in this Agreement, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound hereby, agree as follows: 
 1. Employment; Position and Duties. The Company agrees to employ the Executive as Interim Chief Executive Officer of the Company, and the Executive agrees to perform such duties as are consistent with
that position and such duties as reasonably may be related to it and assigned to him from time to time by the Company’s Board of Directors. The Executive will devote substantially all of his business time, attention, skill, and energy to the
business and affairs of the Company. Anything herein to the contrary notwithstanding, nothing shall preclude the Executive from (a) serving on the boards of directors of a reasonable number of trade associations and/or charitable organizations,
(b) engaging in charitable activities and community affairs, (c) managing his personal investments and affairs, and (d) continuing to serve on boards of directors of which he is a member as of the Effective Date, provided that any or
all of the foregoing activities do not materially interfere with the proper performance of his duties and responsibilities as the Company’s Interim Chief Executive Officer and are undertaken in accordance with the Company’s policies as in
effect from time to time. 
 The Executive hereby represents and confirms that he is not bound by any restrictive covenants that would
prevent or impair his employment by the Company. 
 2. Term. Subject to
the termination provisions hereof, the term of this Employment Agreement shall be for a period of six months, commencing on the Effective Date. Unless this Agreement shall have been terminated in accordance with its terms, at the close of business
on each of September 24, October 24, November 24 and December 24, 2008 and January 24 and February 24, 2009, the term of this Agreement shall be automatically extended for one month to the close of business on the 24
th day of the next immediately succeeding month. The parties may by mutual written agreement further extend the term of this Employment Agreement
for such additional periods and on such other terms and conditions as they may determine. 
 3. Compensation and Benefits.
Subject to the terms and conditions of this Agreement, the Company agrees to pay or provide to the Executive (or his estate or personal representative, in the event of his death) the following compensation and benefits: 
 a. Base Salary. The Executive’s base salary shall be at the rate of $725,000 per year, payable monthly in accordance with the
Company’s regular payment practices as in effect from time to time. 

 b. Benefits. Neither the Executive nor his spouse, children, or other members of his family
shall participate in or receive any health, welfare, insurance, or other benefits from the Company that may from time to time be provided by the Company to other employees. Except as specifically set forth in this Section 3, the Executive shall
not, for example, participate in the Company’s annual performance bonus plan for 2008 or in any retirement, retention or other similar plan provided by the Company. Should the Executive remain employed as the Company’s Interim Chief
Executive Officer after January 1, 2009, the Compensation Committee of the Board of Directors shall consider the appropriateness of providing incentive compensation to the Executive in addition to that provided for herein. 
 c. Reimbursement. The Company shall reimburse the Executive in accordance with the Company’s regular policies and practices for travel
and other business expenses reasonably incurred by him in connection with the business of the Company upon presentation by the Executive of substantiating evidence thereof. In this regard, the Executive’s reasonable expenses incurred in
connection with commuting to the Company’s headquarters in Tampa, Florida shall be reimbursed. For calendar 2008, the Company shall also reimburse the Executive for up to $17,000 of personal financial planning services. 
 d. Automobile. The Company shall provide to the Executive, and the Executive shall have the sole and exclusive right to use, a vehicle
reasonably acceptable to the Company and the Executive. The vehicle provided pursuant to this paragraph 3(d) shall not be used by the Executive for personal purposes – i.e., for purposes aside from (i) travel between Naples, Florida (where
the Executive’s residence is located), and Tampa, Florida, (ii) travel during time periods when the Executive is in Tampa, Florida, and (iii) other business-related travel. If any vehicle provided pursuant to this Section is no longer
reasonably serviceable, the Company shall replace or cause the replacement of such vehicle with a substantially similar vehicle. 
 e.
Apartment. The Company shall maintain for the Executive an apartment reasonably acceptable to the Executive and the Company in Tampa, Florida. 
 f. Tax Treatment and Gross-Up Payments. It is the intent and understanding of the Company and the Executive that the Company’s provision of the automobile and apartment referred to in paragraphs
3(d) and 3(e) will constitute nontaxable “working condition fringes” for the Executive under Internal Revenue Code section 132(d) and Treasury Regulation section 1.132-5, because the Executive’s employment at the Company’s office
in Tampa, Florida, is currently expected to last for less than one year, the automobile and apartment are to be used for purposes of business travel by the Executive and the expenditures for them would therefore constitute deductible business
expenses of the Executive if incurred by him directly. If it shall ultimately be determined that the Executive is taxable, in whole or in part, on the value of the use of the automobile and the apartment, the Company shall pay to the Executive such
additional amount of compensation as will be sufficient, on an after-tax basis, to reimburse the Executive for such tax liability, provided that the Executive has complied with his obligations under paragraph 3(d) and has otherwise cooperated in
furnishing any required documentation to support the tax position stated in the preceding sentence. 

 g. Vacation. The Executive shall be entitled to four weeks of vacation time in each
calendar year during the term hereof. The Executive shall not be entitled to compensation for any unused vacation time in any year. The Executive shall also be entitled to the paid holidays provided by the Company to all of its employees.

 h. Restricted Stock Units Payable in Cash. 
 i. Grant of Restricted Stock Units. Effective March 24, 2008, the Company shall grant to the Executive restricted stock units payable in cash as set forth in Section 3 (h) (iii) or, if
applicable, Section 3 (h) (iv) below in respect of 720,000 shares of the Company’s Common Stock. 
 ii. Vesting. Of these units, 360,000 shall be immediately vested. Subject to accelerated
vesting as provided in Section 3 (h) (iv) below, of the remaining 360,000 units, 60,000 shall vest on each of the 24th day of
October, November and December 2008 and January, February and March 2009, provided that the Executive is still employed by the Company as its Interim Chief Executive Officer on the applicable vesting date and that this Agreement has not terminated
prior to that date. 
 iii. Payments. Subject to the alternative payment provisions of Section 8 below, on November 15 ,
2008, and again on the last day (or if such day is not a business day, the first day business day thereafter) of each of November and December, 2008 and January, February, and March and April, 2009 (provided that, except in the case of vested units,
the Executive is still employed by the Company as its Interim Chief Executive Officer on the immediately preceding vesting date and that this Agreement has not terminated prior to that date), the Company shall make payment to the Executive in
respect of all vested but not previously paid restricted stock units. The payments made to the Executive on each date identified above (each, a “Payment Date”) shall be the cash amount that is equal to the number of units for which payment
is being delivered multiplied by the average closing price of the Company’s Common Stock on the New York Stock Exchange over the 15 trading days most immediately preceding the Payment Date. 
 iv. Accelerated Vesting and Payment Upon a Change of Control. In the event of a Change of Control, as defined below (provided that the Executive
is still employed by the Company as its Interim Chief Executive Officer immediately prior to the Change of Control and that this Agreement has not terminated prior to that time), all unvested restricted stock units granted hereunder shall
immediately vest and the amounts payable in respect thereof shall be promptly paid to the Executive, with the date of payment being the effective date of the Change of Control. For the purposes of this Agreement, a Change of Control shall mean:

 (A) (1) A takeover bid (within the meaning of the Securities Act (Ontario)), other than a takeover bid exempt from the requirements of
Part XX of such Act pursuant to sub-section 93(1)(b) or (c) thereof, is completed in respect of more than fifty one percent (51%) of the Company’s then outstanding common shares or (2) any person or group 

 
within the meaning of the United States Securities and Exchange Act of 1934, as amended to the date hereof, and Regulation 13D-6 thereunder acquires in a
single transaction or series of transactions fifty one percent (51%) or more of the Company’s then outstanding common shares and, in either case, the majority of the members who were members of the Board of Directors of the Company prior
to completion of such acquisition are replaced within 60 days following the date on which the fifty one percent (51%) threshold is exceeded, or 
 (B) Any of the following occur: (1) any consolidation, merger or amalgamation of the Company with or into any other corporation whereby the voting shareholders of the Company immediately prior to such event
receive less than 50% of the voting shares of the consolidated, merged or amalgamated corporation; (2) a sale by the Company of all or substantially all of the Company’s undertakings or assets; (3) a proposal by or with respect to the
Company being made in connection with a liquidation, dissolution or winding up of the Company; (4) any reorganization, reverse stock split or recapitalization of the Company that would result in a Change of Control as otherwise defined herein;
or (5) any transaction or series of related transactions having directly or indirectly, the same effect as any of the foregoing; and, in the case of any event occurring under (A) or (B). 
 v. Further Assurances. At the request of either the Company or the Executive, the Company and the Executive shall each execute and deliver to the
other such grant or other agreements as may be necessary to effectuate the provisions of this Section 3(h), in all cases in form and substance reasonably acceptable to each of them. 
 i. Indemnification. The Company agrees that the Executive shall be indemnified in accordance with the Company’s by-laws in effect from
time to time and in accordance with the existing indemnification agreement between the Company and the Executive. 
 j.
Insurance. The Company shall maintain directors’ and officers’ liability insurance for the benefit of the Executive in accordance with the Company’s applicable policies and as generally provided to the other directors
and executive officers of the Company. 
 4. Restrictive Covenants. 
 a. The Executive will not at any time, without the prior written consent of the Company, during the Term of this Agreement or for a period of 12 months
after the termination of the Executive’s employment (regardless of the reason for such termination), either individually or in partnership, jointly or in conjunction with any person or persons, firm, association, syndicate, company or
corporation, whether as agent, shareholder, employee, consultant, or in any manner whatsoever, directly or indirectly: 
 i. anywhere in the
Territory, engage in, carry on or otherwise have any interest in, advise, lend money to, guarantee the debts or obligations of, permit the Executive’s name to be used in connection with any business which is competitive in a material way to the
Business or which provides the same or substantially similar services or products as the Business. 

 ii. for the purpose, or with the effect, of competing with any business of the Company, solicit,
interfere with, accept any business from or render any services to anyone who was a client or prospective client of the Company or any Affiliate at any time during the period during which Executive served under the terms of this Agreement;

 iii. solicit or offer employment to any person employed or engaged by the Company or any Affiliate at any time during the period during
which Executive served under the terms of this Agreement. 
 b. For the purposes of the Agreement: 
 i. “Territory” shall mean the countries in which the Company and its subsidiaries conduct the Business; 
 ii. “Business” shall mean the business of manufacturing, selling or distributing carbonated soft drinks, juices, water and other non-alcoholic
beverages to the extent such other non-alcoholic beverages contribute, or are contemplated or projected to contribute, materially to the profits of the Company at the time of the Executive’s termination of employment. 
 iii. “Affiliate” shall have the meaning ascribed to that term in Rule 12b-2 under the United States Securities Exchange Act of 1934, as
amended to the date hereof. 
 c. Nothing in this Agreement shall prohibit or restrict the Executive from holding or becoming beneficially
interested in up to five (5%) percent of any class of securities in any corporation provided that such class of securities are listed on a recognized stock exchange in Canada or the United States or on the NASDAQ. 
 d. The parties acknowledge that the restrictions in this Section 4 are reasonable in all of the circumstances and the Executive acknowledges that
the operation of restrictions contained in this Section 4 may seriously constrain his freedom to seek other remunerative employment. 
 5. Inventions. The Executive acknowledges and agrees that all right, title and interest in and to any information, trade secrets, advances, discoveries, improvements, research materials and data bases made or conceived by the
Executive prior to or during his employment relating to the business or affairs of the Company, shall belong to the Company. In connection with the foregoing, the Executive agrees to execute any assignments and/or acknowledgements as may be
requested by the Board of Directors from time to time. 
 6. Policies. The Executive will comply with all applicable policies
of the Company, including the Company’s Insider Trading Policy and Insider Reporting Procedures (copies of which have been provided to the Executive) in respect of any securities of the Company acquired by the Executive. 

 7. Nondisparagement. The Executive shall not disparage the Company or any of its
affiliates, directors, officers, employees or other representatives in any manner and shall in all respects avoid any negative criticism of the Company; provided that, nothing in this Agreement shall preclude you from prosecuting your rights under
this Agreement, from providing truthful and accurate testimony in response to any judicial or administrative subpoena or cooperating with any investigation of the Company, any of its Affiliates or any of its officers, agents or directors by any
agency of any federal, state, provincial or local government having jurisdiction thereof. This obligation will survive any termination of this Agreement. 
 8. Termination. This Agreement may be terminated as follows: 
 a. Termination for
Convenience. This Agreement may be terminated for convenience by either the Company or the Executive at any time upon 30 days’ prior written notice for any reason. 
 b. Termination Without Action By Either Party. This Agreement shall terminate without further action by either party automatically and
immediately upon the first to occur of: the occurrence of a Change of Control; the death of the Executive; the good faith and reasonable determination of the Board of Directors (based on medical advice) that the Executive has become disabled and
cannot effectively perform his duties hereunder; the effective date of the appointment by the Company of a permanent Chief Executive Officer to replace the Interim Chief Executive Officer; the close of business on March 24, 2009. 
 c. Payments Upon Termination. Following termination, the Executive shall be paid the following amounts: 
 i. All Terminations. Upon any termination of this Agreement, the Company shall pay to the Executive, or, in the case of a termination due to his
death or disability, his heirs or personal representatives, as appropriate, (A) all amounts of base salary accrued through the date of termination and not previously paid to the Executive, his heirs, or personal representatives, (B) all
amounts due in respect of all vested restricted stock units payable in cash and not previously paid to the Executive, his heirs or personal representatives, and (C) all reimbursement to which the Executive is entitled through the date of
termination and not previously paid to the Executive, his heirs or personal representatives. 
 ii. Termination Due to a Change of
Control. As noted above under the caption “Restricted Stock Units Payable in Cash,” the vesting of restricted stock units granted hereunder accelerates upon a Change of Control. Thus, for the sake of clarity, the payment of amounts in
respect of vested restricted stock units referred to in the preceding paragraph shall include payment in respect of units, the vesting of which accelerated as a result of the Change of Control. 
 iii. Termination Prior to the Expiration of Six Months. In addition to the foregoing, if this Agreement is terminated by the Company for
“Cause” before the Executive shall have received (including any amounts payable pursuant to paragraph 8(c)(i)) payments of base salary equal to or greater than $362,500, the Company shall pay to the Executive, his heirs or personal
representatives, the positive difference between $362,500 and the amounts of base salary previously paid to the Executive (including in that amount of base salary payable upon termination pursuant to paragraph 8(c)(i)). 

 For purposes of this Employment Agreement, “Cause” shall mean(i) any material act of dishonesty
by Executive; (ii) any material act or omission by the Executive involving misfeasance or gross negligence in the performance of his duties hereunder; (iii) indictment for any felony; (iv) abuse of alcohol or use of illegal drugs; or
(v) the Executive’s material breach of this Agreement or of any material policy of the Company, unless the Executive cures such breach within a reasonable time after having received prior notice of the alleged material breach. 

iv. Incidental Matters Relating to Termination. Upon any termination of this Agreement: 
 (A) Return of Company Property. The Executive shall promptly return or cause to be returned to the Company all books, documents, computer disks,
and diskettes, and other electronic data, effects, money, securities, or other property belonging to the Company or for which the Company is liable to others, which are in the possession, charge, control or custody of the Executive. 
 (B) No Additional Payment. Except as specifically provided in this Section 8, the Executive shall not be entitled to any further termination
payments, damages or compensation whatsoever following any termination of this Agreement. 
 (C) Release. As a condition precedent to
any payment pursuant to this Agreement following a termination, the Executive agrees to deliver to the Company a full and final release from all actions or claims in connection therewith in favor of the Company, its affiliates, subsidiaries,
directors, officers, employees and agents, in a form reasonably satisfactory to the Company. 
 (D) Resignation. If the Executive is
a director or officer at the relevant time of the Company or any of its affiliated or related companies, after termination of his employment he will promptly tender his resignation from any and all such positions unless the Board of Directors
determines otherwise. 
 (E) Confirm Covenants. The Executive will confirm in writing his continuing obligation to the Company,
including without limitation under Section 4 and Section 7 of this Agreement. 
 9. Severability. The covenants and
agreements contained herein (including those incorporated herein by reference) are separate and severable and the invalidity or unenforceability of any one or more of such covenants or agreements shall not affect the validity or enforceability of
any other covenant or agreement contained herein. In addition, if, in any judicial proceeding, a court shall refuse to enforce one or more of the covenants or agreements contained herein (including those incorporated herein by reference) because it
determines the duration thereof is too long or the scope thereof is too broad, it is expressly agreed between the parties hereto that such duration or scope shall be deemed reduced to the extent necessary to permit the enforcement of such covenants
or agreements, to the extent allowed by applicable law. 

 10. Notices. All notices and other communications required or permitted hereunder shall be
in writing and sufficient if delivered personally, by private courier, or sent by registered or certified mail, postage prepaid, addressed as follows: 
  

			
	If to the Executive, to:	  	 David T. Gibbons
 17016 Treviso Way
 Naples, FL 34110

		
	If to the Company, to:	  	 Cott Corporation
 5519 West Idlewild Avenue

Tampa, FL 33634-8016

		  	Attn: Corporate Secretary

 Either party may change the person and address to which notices or other communications are to be
sent by giving written notice of any such change in the manner provided herein. 
 11. Assignment. This Agreement is personal
as to the Executive and shall not be assignable by the Executive. The Company may assign its rights under this Agreement to an affiliate of, or successor by merger or consolidation to, the Company, unless the Agreement is otherwise terminated in
accordance with Section 8. 
 12. Binding Effect. All of the terms and provisions of this Agreement shall be binding upon
and shall inure to the benefit of and be enforceable by the parties hereto and their respective heirs, executors, administrators, successors and permitted assigns. 
 13. Entire Agreement; Amendment. This Agreement constitutes the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes any prior agreements
or understanding, between the Company and the Executive with respect to such subject matter. No agreement, representation, warranty or covenant has been made by either party except as expressly set forth herein. This Agreement shall not be altered,
waived, modified or amended except by a written instrument executed by the parties hereto. 
 14. Independent Advice. The
Company and the Executive acknowledge and agree that they have each obtained independent legal advice in connection with this Agreement and they further acknowledge and agree that they have read, understand and agree with all of the terms hereof and
that they are executing this Agreement voluntarily and in good faith. 
 15. Gender. Words denoting any gender include both
genders. 
 16. Survivorship. Upon the termination of the Executive’s employment, the respective rights and obligations of
the parties shall survive such termination to the extent necessary to carry out the intended preservation of such rights and obligations. And, without limiting the foregoing each and every provision of Sections 3(h), 4, 5, 6, and 8(c) shall survive
any termination of this Agreement until all obligations arising thereunder have been fully performed and Sections 3(i), 3(h) and 7 shall survive a termination of this Agreement indefinitely. 

 17. Taxes. All payments under this Agreement shall be subject to withholding of such
amounts, if any, relating to tax or other payroll deductions as the Company may reasonably determine and should withhold pursuant to any applicable law or regulation. 
 18. Currency. All dollar amounts set forth or referred to in this Agreement refer to U.S. currency. 
 19. Headings. The section headings contained in this Employment Agreement are inserted for convenience of reference only and shall not affect the meaning or interpretation of this Employment Agreement. 
 20. Counterparts. This Employment Agreement may be executed in counterparts, each of which shall be deemed to be an original, but which
together shall constitute one and the same instrument. 
 21. Governing Law. This Employment Agreement shall be construed in
accordance with and governed for all purposes by the laws of the State of Florida, without regard to its conflicts of law principles. 
 22.
Arbitration. All matters in difference between the parties in relation to this Agreement, shall be referred to the arbitration of a single arbitrator, if the parties agree upon one, otherwise to three arbitrators, one to be appointed
by the Company and one to be appointment by the Executive and a third to be chosen by the first two arbitrators named before they enter upon the business of arbitration. The arbitration shall be conducted in Tampa, Florida in accordance with the
expedited employment dispute rules of the American Arbitration Association. The award and determination of the arbitrator or arbitrators or any of two of three arbitrators shall be binding upon the parties and their respective heirs, executors,
administrators and assigns. Each party shall be responsible for its or his own expenses with respect to the arbitration. An action may be brought to enforce any judgment rendered in any arbitration hereunder or to enforce the provisions of this
Agreement requiring arbitration. 
 23. Remedies. 
 a. Injunctive Relief. Executive acknowledges and agrees that his covenants and obligations contained in this Employment Agreement relate to special, unique and extraordinary matters and are reasonable
and necessary to protect the legitimate interests of the Company and that a breach of any of the terms of such covenants and obligations will cause the Company irreparable injury for which adequate remedies at law are not available. Therefore,
Executive agrees that the Company shall be entitled to an injunction, restraining order, or other equitable relief from any court of competent jurisdiction restraining Executive from any such breach. 

 b. Remedies Cumulative. The Company’s rights and remedies under this Section 24
are cumulative and are in addition to any other rights and remedies it may have at law or in equity. 
 IN WITNESS WHEREOF, the parties
hereto have duly executed this Employment Agreement as of the day and year first above written. 
  

			
	COTT CORPORATION, a Canadian corporation
		
	By:	 	 /s/ Juan R. Figuereo

	Name:	 	Juan R. Figuereo
	Title:	 	Chief Financial Officer
		
	By:	 	 /s/ Abilio Gonzalez

	Name:	 	Abilio Gonzalez
	Title:	 	Chief People Officer
	
	EXECUTIVE:
	
	 /s/ David T. Gibbons

	DAVID T. GIBBONS

 [Signature Page to Gibbons Employment Agreement]

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