Exhibit 10.4
October 25, 2002
Xxxx Xxxxxxxx
00 Xxxxxxxx Xxxxxx
Xxxxxxx, Xxxxxxx
X0X 0X0
Dear Xxxx:
RE: EMPLOYMENT AND RELATED ARRANGEMENTS
This letter confirms our agreement concerning certain amendments and
clarifications to your employment agreement dated October 7, 1997 (the "Original
Agreement"), as modified by a letter dated December 19, 1997, as further
modified by an agreement dated May 1, 1998, as further modified by an agreement
dated September 14, 1998, as further modified by a letter agreement of June 25,
1999, and as further modified by a letter agreement dated September 25, 2000
(collectively, the "Employment Agreement").
The following amendments and/or clarifications to the Employment Agreement are
hereby agreed to by the parties:
1. Pursuant to the Employment Agreement, your current position is that of
Executive Vice President Cott Corporation and President of Cott Canada,
with responsibility for all aspects of Xxxx's Canadian beverage
business. Effective July 22, 2002, your title is changed to Executive
Vice President. In that role, you will have responsibility for all
aspects of Xxxx's Canadian, international (including RC Cola
International) and Mexican beverage businesses and will report directly
to the President and Chief Executive Officer of Cott Corporation.
2. Section 5(a) of the Original Agreement is amended by changing the
reference to "two years" in the first line to "six years".
3. Section 5(b) of the Original Agreement is amended by changing the
reference to "two years" in each of the first line and fourth line to
"six years".
4. The aggregate amount of the bonuses referred to in the seventh line of
Section 5(a) of the Original Agreement is set at $500,000.
5. The aggregate amount of the bonuses referred to in the fourth line of
Section 5(b) of the Original Agreement is set at $500,000.
6. The CEO Replacement Date (as defined in the Original Agreement) is June
11, 1998.
7. The Change of Control (as defined in the Original Agreement) occurred
on July 7, 1998.
In all other respects, the terms and conditions of the Employment Agreement
shall remain in full force and effect, unamended.
If I have accurately stated the terms of our agreement, please sign and return
the enclosed duplicate original of this letter.
Yours truly,
COTT CORPORATION
/s/ Xxxxx Xxxxxx
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Xxxxx Xxxxxx
Senior Vice-President, Human Resources
ACCEPTED AND AGREED TO THIS 25TH DAY OF OCTOBER, 2002.
/s/ Xxxx Xxxxxxxx
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XXXX XXXXXXXX
