COCA-COLA BOTTLING CO. CONSOLIDATED (NASDAQ:COKE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
On February14, 2018, the Company and Mr.Deal entered into a Separation Agreement and Release (the “Separation Agreement”) in connection with Mr.Deal’s retirement from employment with the Company effective February15, 2018.
In consideration for Mr.Deal’s comprehensive release of claims against the Company and its affiliates and his post-employment covenants set forth in the Separation Agreement regarding continuing cooperation and nondisclosure of the Company’s confidential information, Mr.Deal will be entitled to receive monthly payments of $41,666.67 for six months after his retirement. The Company’s obligation to make such payments is conditioned on Mr.Deal being in substantial compliance with the material terms of the Separation Agreement as of the dates of the payments. Under the terms of the Separation Agreement, Mr.Deal may revoke the Separation Agreement for a period of seven days after February14, 2018, the date Mr.Deal executed the Separation Agreement. The Separation Agreement shall not become effective or enforceable until the seven-day revocation period has ended.
The foregoing description of the terms and conditions of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Separation Agreement, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
| Item 5.02. | Financial Statements and Exhibits. |
COCA COLA BOTTLING CO CONSOLIDATED /DE/ ExhibitEX-10.1 2 d543154dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 SEPARATION AGREEMENT AND RELEASE This Separation Agreement and Release (this Agreement) is entered into as of February 14,…To view the full exhibit click here
About COCA-COLA BOTTLING CO. CONSOLIDATED (NASDAQ:COKE)
Coca-Cola Bottling Co. Consolidated produces, markets and distributes nonalcoholic beverages, primarily products of The Coca-Cola Company, which include beverage brands. The Company is an independent Coca-Cola bottler in the United States. The Company’s segments are Nonalcoholic Beverages and All Other. The Company holds various agreements, under which it produces, distributes and markets sparkling beverages of The Coca-Cola Company, as well as still beverages of The Coca-Cola Company, such as POWERade, vitaminwater, Minute Maid Juices To Go and Dasani water products, and various other products, including Dr Pepper, Sundrop and Monster Energy products. Its operational footprint includes markets located in North Carolina, South Carolina, South Alabama, South Georgia, Central Tennessee, Western Virginia and West Virginia. It develops, markets and distributes certain products, which it owns, such as Tum-E Yummies, a vitamin-C enhanced flavored drink, and Fuel in a Bottle power shots.