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  Exhibit 10.1    
    

  

REVISED

June 30, 2008 

Peter
Swinburn

222 Cook Street

Denver, CO 80206 

Dear
Peter: 

This
letter confirms Molson Coors Brewing Company's offer for you as the President and Chief Executive Officer of Molson Coors Brewing Company. 

 Effective Date  

        The effective date of your appointment is July 1, 2008 as the MillerCoors closing is scheduled to occur the day before. 

 Base Salary  

        Your adjusted base salary will be $875,000 per annum, payable monthly in arrears. 

 Short-term Incentive Opportunity  

        You will continue to be eligible for an annual bonus under the Molson Coors Incentive Plan (MCIP). Effective July 1, 2008, your
target opportunity is 100% of base salary. MCIP is awarded each March for the prior year's performance. Your MCIP opportunity is earned 100% on Molson Coors Brewing Company's performance. 

 Long-term Incentive Opportunity  

        You will continue to be eligible for long -term incentive awards targeting an annual compensation value of
$2.5 million. Presently, long-term incentive opportunity includes three vehicles—Performance Share Unit (PSUs) (20%), Stock Only Stock Appreciation Rights (SoSars) (40%)
and Restricted Share Units (RSUs) (40%). 

        Executive
compensation is reviewed annually and adjustments can be made to targets and ranges for base pay, short-term incentive or long term incentive components of the
total compensation package. Additionally, the type of long-term vehicles used by Molson Coors to fulfill the annual target compensation of the LTI component of pay are reviewed annually in
consideration of compensation objectives and financial impact to the Company. Should any changes be recommended and approved by the Compensation and Human Resources Committee and/or the
MCBC Board of Directors for either change in target compensation grant levels, ranges or in LTI vehicles, those changes would apply to you. 

 Total Compensation Opportunity  

        Total direct compensation includes base, short-term and long-term incentives. At target, short-term
and long-term incentive opportunity, your annual total compensation opportunity will be $4,250,000. 

 Promotional Assignment Grant  

        You will be granted 10,000 RSUs and 20,000 SoSars as acknowledgement of this appointment. This grant will be made in July 2008. 

 Other Compensation and Benefits  

        All other compensation and benefits awarded in conjunction with your prior appointment as President and Chief Executive Officer of
Coors Brewing Company (including participation in the Company's Health and Welfare Benefits, relocation assistance, allowances and reimbursements, monthly vehicle allowances and any remaining unused
US home to UK home first class, roundtrips for you and your spouse) remain in force. 

 Termination  

        In the event of termination due to death or disability, you or your estate will be entitled to the balance of your annual salary and a
full year's short term incentive for the year in which the death or disability occurs. Your long-term incentive awards will be subject to the terms of termination for each grant. 

        In
the event you elect either early or full retirement from Coors Brewing Company, your annual salary will cease as of the date of retirement and you will be eligible for a prorated MCIP
award payable at the same time as awards for other employees. The prorated MCIP will be based on your actual base salary earned over the period of your employment in the year of retirement. You will
be eligible for continuation of health and welfare benefits under the normal plan provisions. 

        In
the event of your involuntary termination by the Company, other than for just cause, you will be eligible for a severance payment, in the form of a continuation of your base salary
equal to 24 months (the "Severance Period"). You will not be entitled to any compensation on account of lost annual bonus (MCIP) payments for the Severance Period, but shall be eligible for
MCIP bonus payments prorated for any part of service up to the date of commencement of the severance period. In addition, all your existing insured benefits (excluding short and long-term
disability) and perquisites will be continued during the Severance Period or until you find new employment or self-employment which ever occurs first. You will continue to accrue pension
service during the Severance period or until you find new employment or self-employment which ever occurs first. 

        Peter,
I and the Molson Coors Board of Directors are very pleased with your appointment as President and CEO of Molson Coors Brewing Company. We're confident that you will effectively
lead the company to its' next level of performance. Please confirm your agreement with the compensation and employment provisions as outlined in this letter by your signature below, forwarding a
signed copy to me or to Ralph Hargrow, our Global Chief People Officer at your earliest convenience. 

					
	
 Regards,	
 	

 	
 	

 
	
 /s/ PETE COORS (RH)

  Pete Coors

Vice Chairman

Molson Coors Brewing Company	
 	

 	
 	

 

I
confirm that the above arrangements are in accordance with my understanding and are entirely acceptable to me. I agree to keep the terms of this employment agreement confidential. 

							
	 
	 	 
	 	 
	 	 

	Signature	 	/s/ PETER SWINBURN

  Peter Swinburn	 	Date	 	7-3-08

 

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  Exhibit 10.2    
    

  

REVISED

June 30, 2008 

Stewart
Glendinning 

Dear
Stewart: 

        I
am very excited with your appointment to Chief Financial Officer for Molson Coors Brewing Company effective July 1, 2008. We have had good success leading the CBL business teams
and your appointment offers a unique opportunity to apply our learnings to take MCBC to its next level. 

 Position  

        Your position will be Chief Financial Officer of Molson Coors Brewing Company. You will report directly to me. 

 Effective Date  

        The effective date of your position is July 1, 2008. 

 Base Salary  

        Your base salary will be $500,000 per annum, payable monthly in arrears. Executive salaries are reviewed annually in February/March. 

 Short-term Incentive Opportunity  

        You will be eligible for an annual bonus under the Molson Coors Incentive Plan (MCIP). Your target opportunity is 75% of base salary as
of July 1. MCIP is awarded each March for the prior year's performance. Your MCIP opportunity is earned 100% on Molson Coors Brewing Company's performance. Your 2008 first half incentive will
be prorated based on your participation in CBL's incentive plan. 

 Long-term Incentive Opportunity  

        You will continue to be eligible for long -term incentive awards with a new targeted compensation value of $945,000.
Long-term incentive opportunity includes three vehicles—Performance Share Unit (PSUs) (20%), Stock Only Stock Appreciation Rights (SoSars) (40%) and Restricted Share Units
(RSUs) (40%). 

        Executive
compensation is reviewed annually and adjustments can be made to targets and ranges for base pay, short-term incentive or long term incentive components of the
total compensation package. Additionally, the type of long-term vehicles used by Molson Coors to fulfill the annual target compensation of the LTI component of pay are reviewed annually in
consideration of compensation objectives and financial impact to the Company. Should any changes be recommended and approved by the Compensation and Human Resources Committee of the Board of Directors
for either change in target compensation grant levels, ranges or in LTI vehicles, those changes would apply to you. 

 Promotional Assignment Grant  

        You will be granted a one-time 5,000 RSU grant as acknowledgement of this promotional appointment. This grant will be made
in July 2008. 

 

 Pension  

        You will participate in the Coors Brewing Company defined benefit and defined contribution plans. The defined benefit plan contributes
15% of base salary annually. You are eligible to participate in the Coors Brewing Company 401(k) plan. You may contribute up to 6% of your compensation on a pre-tax basis, subject to
Internal Revenue Service limitations. The Company will match 75% of the contributions you make on a pre-tax basis. You will be eligible to participate in the Company's Excess Benefit and
Supplemental Executive Retirement Plan (SERP) which supplement the defined benefit and defined contribution plans beyond limitations imposed by the Internal Revenue Service. Please contact Barb
Albanesi, our Director of Benefits, should you have any questions regarding the pension plan (or any other benefits). 

 Other Benefits  

        You will be eligible to participate in all health and welfare benefits under the Coors Brewing Company Executive benefits schedule.
This includes life insurance, short and long-term disability and accidental dismemberment and death insurance. Details on these benefits will be provided during your enrollment process in
the benefits programs. Executives receive a Group Term Life benefit of 2X annual salary, subject to annual "Benefits on Tap" election and enrollment, and an individual Term Life policy, which you will
personally own in a benefit amount of 6X annual salary. 

 Relocation  

        Relocation costs to US to be reimbursed. The one-time relocation allowance attributable to your move has been increased to
$75,000 US and will be grossed up for taxes. In addition, the Company will reimburse you and your spouse for one, annual round trip (travel expenses) between Denver, CO and London, England over the
three years ending June 30, 2011. 

 Car Allowance  

        You will be provided a $1,000 monthly car allowance for each of the 24 months commencing July 1, 2008 and ending
June, 2010. 

 Financial Planning and Tax Preparation Services  

        You are eligible for Tax Preparation assistance for filing your 2008 tax returns. You are also eligible to participate in the Company's
Financial Planning program which provides $10,000 per year for financial planning services you may employ. 

 Vacation  

        You are entitled to 5 weeks vacation per year, which will be administered in accordance with the Company's vacation policy. 

 Termination  

        In the event of your involuntary termination by the Company, other than for just cause, you will be eligible for a severance payment
("Normal Severance"), in the form of a continuation of your base salary equal to 12 months (the "Severance Period"). You will not be entitled to any compensation on account of lost annual bonus
(MCIP) payments for the Severance Period, but shall be eligible for MCIP bonus payments prorated for any part of service up to the date of commencement of the severance period. In addition, all your
existing insured benefits (excluding short and long-term disability) and perquisites will be continued during the Severance Period or until you find new employment or
self-employment which ever occurs first. You will continue to accrue pension service 

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during
the Severance period or until you find new employment or self-employment which ever occurs first. 

        As
a member of the Executive Leadership Team and as a section 16(b) officer of the Company, you are eligible for participation in the Company's Change in Control &
Severance protection program. This program is prescribed by the MCBC Board of Directors and provides economic protection in the event of a change in the control of Molson Coors Brewing Company  and your
employment termination within two years following such change in control. In the main, the economic protection under this program includes,
among other provisions, a payment equal to three times the sum of your annual base salary and your target incentive as well as accelerated vesting of your outstanding, MCBC granted shares. This
program is for the special circumstances associated with a change in the control of the Company and is thus, not additive to "normal severance." You will receive a formal Change in Control &
Severance Agreement outlining the specific provisions, terms and definitions in the weeks that follow. 

        Stewart,
I am pleased that you are joining us as CFO of Molson Coors Brewing Company and am confident that you will make a significant contribution to our organization. Please confirm
your agreement with the conditions of employment as outlined in this letter via signature below and ensure that I am in receipt of this signed letter in the next couple of days. 

					
	
 Regards,	
 	

 	
 	

 
	
 /s/ PETER SWINBURN

  Peter Swinburn

President and Chief Executive Officer

Molson Coors Brewing Company	
 	

 	
 	

 

        I
confirm that the above arrangements are in accordance with my understanding and are entirely acceptable to me. I agree to keep the terms of this employment agreement confidential. 

							
	Signature	 	/s/ STEWART GLENDINNING

  Stewart Glendinning	 	Date	 	1 July 2008

 

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Exhibit 10.2

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