Molson Coors Brewing Company Retention Agreement with Kevin Boyce (April 23, 2008)
Molson Coors Brewing Company and Kevin Boyce entered into a retention agreement granting Mr. Boyce 11,000 restricted stock units vesting after two years, a one-time country or golf club initiation fee up to 15% of his base salary, and five weeks of annual vacation. If the company terminates his employment without cause before the stock units vest, he will receive two times his annual salary and target bonus plus benefits for two years. If terminated after vesting, he receives two times his annual salary, provided he gives six months' notice if he resigns voluntarily.
QuickLinks -- Click here to rapidly navigate through this document
Exhibit 10.2
April 23, 2008
Kevin Boyce
Dear Kevin:
This letter confirms and summarizes Molson Coors Brewing Company's offer of a retention program.
Retention Program
Under the terms of the approved retention program, you will receive (i) a grant of 11,000 restricted stock units to be grated on March 1, 2008, which will vest on the second anniversary of the date of the grant (the "Vesting Date"); (ii) a one time country/golf club initiation fee in an amount not to exceed 15% of your current base salary; and (iii) five weeks of vacation per year. In the event that the Company terminates your employment without cause prior to the Vesting Date, you shall be entitled to receive a payment in an amount equal to two times the sum of your annual salary and target bonus plus all other benefits for a period of two years. In the event your employment is terminated subsequent to the Vesting date, you shall be entitled to receive a payment in an amount equal to two times your annual salary, provided that in the event that such termination is at your election, you provide no less than six months notice of your intention to terminate your employment.
This is a confirmation of the retention agreement and I trust you'll let us know if this has missed anything.
Regards,
/s/ Ralph Hargrow
Ralph Hargrow
Global Chief People Officer
Molson Coors Brewing Company
I confirm receipt, review and acceptance of the above arrangements.
| Signature: | /s/ Kevin Boyce Kevin Boyce | Date: | April 23, 2008 |
1
QuickLinks
- Exhibit 10.2
