Chairman Compensation Confirmation Letter between The Coca-Cola Company and Muhtar Kent
This letter from The Coca-Cola Company's Board of Directors confirms that Muhtar Kent will continue as Chairman of the Board with a base salary of $1,000,000 and the same annual incentive target, unless changed by the Compensation Committee. Future long-term incentive awards are at the committee's discretion and will reflect his duties at the time. Mr. Kent remains eligible for current benefits and must maintain share ownership equal to eight times his base pay. The letter expresses appreciation for his service and outlines the key terms of his ongoing compensation and role.
Exhibit 10.1
Sam Nunn and Maria Elena Lagomasino
February 15, 2018
Mr. Muhtar Kent
The Coca-Cola Company
Dear Muhtar,
On behalf of the entire Board of Directors, we wish to thank you for your outstanding service as Chairman of the Board. The Board and management continue to benefit from your deep knowledge of the business and your strong relationships with bottling partners worldwide.
As you continue in your role as Chairman of the Board, your base salary will continue to be $1,000,000. Your annual incentive target will remain the same until such time as the Compensation Committee of the Board of Directors otherwise determines. Future long-term incentive awards, if any, will be solely at the discretion of the Compensation Committee and would reflect your duties at that time. You continue to remain eligible for benefits and programs on the same terms as are in place today. You are expected to continue to meet your current share ownership guideline of eight times your base pay.
On behalf of the Board of Directors, thank you for all of your many contributions, and we look forward to future success for our Company.
Sincerely,
| /s/ Sam Nunn | /s/ Maria Elena Lagomasino |
| Sam Nunn | Maria Elena Lagomasino |
| Lead Independent Director | Chairman of the Compensation Committee |
