LETTER AGREEMENT BETWEEN THE COMPANY AND P. CHRISTINE LANSINGLetter Agreement • May 14th, 2010 • Peets Coffee & Tea Inc • Miscellaneous food preparations & kindred products
This confirms your decision to resign from your position as Vice President and General Manager of our Consumer business effective April 30, 2010 and from employment with Peet’s Coffee & Tea (the “Company”) effective July 5, 2010 to pursue another professional opportunity. From May 1, 2010 through July 5, 2010, you will remain a Company employee, performing limited transitional duties within your area of expertise as may be requested, but will no longer serve as a corporate officer. It is agreed and understood that you may commence employment with a new employer after April 30, 2010 and, if so, you will remain available by telephone to discuss with the Company and people and/or business issues where the Company may require your involvement or assistance. We are extremely grateful to you for your many contributions to the Company during your time with us and we wish you the very best in your new endeavors. The remainder of this letter outlines the compensation related terms surrounding y
NONQUALIFIED SUPPLEMENTAL DEFERRED COMPENSATION PLAN ADOPTION AGREEMENTPlan Adoption Agreement • May 14th, 2010 • Peets Coffee & Tea Inc • Miscellaneous food preparations & kindred products
This Plan is an unfunded, nonqualified deferred compensation plan. With the consent of the Employer (as defined in subsection 2.16) the plan may be adopted by executing the Adoption Agreement (as defined in subsection 2.3) in the form attached hereto. The Plan contains certain variable features which the Employer has specified in the Adoption Agreement. Only those variable features specified by the Employer in the Adoption Agreement will be applicable to the Employer.
