Employment Agreement Termination and Vice Chairman Service Agreement between James L. Moore, Jr. and Coca-Cola Bottling Co. Consolidated

Summary

James L. Moore, Jr. and Coca-Cola Bottling Co. Consolidated have agreed to terminate Moore's prior employment agreement as of January 1, 2001. Despite this termination, Moore will continue to serve as Vice Chairman of the Board through December 31, 2002, receiving his current base salary and participating in the company's annual bonus plan for 2001 and 2002. All salary and bonus payments will end after December 31, 2002.

EX-10.1 3 dex101.txt EMPLOYMENT AGREEMENT [LOGO OF COCA-COLA] EX 10.1 Employment Agreement Termination -------------------------------- James L. Moore, Jr. ("Employee") and Coca-Cola Bottling Co. Consolidated (the "Company") hereby acknowledge that the Employment Agreement, dated as of March 16, 1987 (the "Employment Agreement"), between the Company and Employee has been terminated effective as of January 1, 2001, and that Employee has no continuing rights or entitlements thereunder. Notwithstanding the termination of the Employment Agreement, Employee agrees to serve as Vice Chairman of the Board of Directors of the Company through December 31, 2002. In that regard, (a) Employee's base salary will continue through December 31, 2002 at an annual rate of $572,797; (b) Employee will continue to participate in the Company's Annual Bonus Plan for calendar years 2001 and 2002; and (c) Employee's salary and bonus will terminate effective December 31, 2002. Dated: April 27, 2001 /s/ James L. Moore, Jr. - ------------------------- James L. Moore, Jr. COCA-COLA BOTTLING CO. CONSOLIDATED By: /s/ Robert D. Pettus, Jr. -------------------------------- Name: ROBERT D. PETTUS, Jr. ------------------------------ Title: Executive Vice President and Assistant to the Chairman ------------------------------