0001068800-06-001489 Sample Contracts

INCENTIVE STOCK OPTION (FORM S.C.) COVER SHEET UNDER THE ANHEUSER-BUSCH COMPANIES, INC.
Incentive Stock Option Agreement • November 27th, 2006 • Anheuser-Busch Companies, Inc. • Malt beverages • Missouri

This Incentive Stock Option Cover Sheet (the “ISO Cover Sheet”) and the Standard Incentive Stock Option Form Agreement (Version 11/06) (the “Standard ISO Form”), which is incorporated herein by this reference, together constitute a single Incentive Stock Option Agreement (this “ISO Agreement”) under the Anheuser-Busch Companies, Inc. 1998 Incentive Stock Plan (the “Plan”). This ISO Agreement is between Anheuser-Busch Companies, Inc. (the “Company”) and the person named above under the caption “Granted To” (the “Optionee”). By signing below, Optionee accepts the Options granted under this ISO Agreement, agrees to be bound by the terms of this ISO Agreement, and acknowledges that he or she has received, read, and understood a complete copy of the Standard ISO Form which is part of this ISO Agreement. Optionee understands that he or she may request another copy of the Standard ISO Form from the Company as long as this ISO Agreement remains outstanding.

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NON-QUALIFIED STOCK OPTION (FORM S.C.) COVER SHEET UNDER THE ANHEUSER-BUSCH COMPANIES, INC.
Nqso Agreement • November 27th, 2006 • Anheuser-Busch Companies, Inc. • Malt beverages • Missouri

This Non-Qualified Stock Option (Form S.C.) Cover Sheet (the “NQSO Cover Sheet”) and the Standard Non-Qualified Stock Option Form Agreement (Version 11/06, Form S.C.) (the “Standard NQSO Form”), which is incorporated herein by this reference, together constitute a single Non-Qualified Stock Option Agreement (this “NQSO Agreement”) under the Anheuser-Busch Companies, Inc. 1998 Incentive Stock Plan (the “Plan”). This NQSO Agreement is between Anheuser-Busch Companies, Inc. (the “Company”) and the person named above under the caption “Granted To” (the “Optionee”). By signing below, Optionee accepts the Options granted under this NQSO Agreement, agrees to be bound by the terms of this NQSO Agreement, and acknowledges that he or she has received, read, and understood a complete copy of the Standard NQSO Form which is part of this NQSO Agreement. Optionee understands that he or she may request another copy of the Standard NQSO Form from the Company as long as this NQSO Agreement remains outs

November 22, 2006 Dear Pat,
Anheuser-Busch Companies, Inc. • November 27th, 2006 • Malt beverages

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

November 22, 2006 Dear August,
Anheuser-Busch Companies, Inc. • November 27th, 2006 • Malt beverages

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

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