Bonus Arrangement Agreement between Peapod and Michael P. Brennan
Peapod has agreed to pay Michael P. Brennan a $60,000 bonus related to the closing of a transaction with Koninklijke Ahold N.V. The bonus is paid in three equal installments: the first was paid on June 30, 2000, and the remaining two will be paid on the first and second anniversaries of the transaction's closing. Each payment is contingent on Mr. Brennan remaining employed with Peapod through the respective payment date.
Exhibit 10.2
BONUS ARRANGEMENT
On April 13, 2000, the Compensation Committee of the Board of Directors granted Michael P. Brennan a bonus of $60,000 in connection with the closing of the transaction between Peapod and Koninklijke Ahold N.V., 1/3 of which was paid on June 30, 2000 and 1/3 of which will become payable on each of the first and second anniversaries of the closing. Each payment of this bonus is conditioned upon Mr. Brennan’s continued employment with Peapod through the respective payment date.
