EXHIBIT 10.40
[LETTERHEAD OF THE COCA-COLA
COMPANY]
January 4, 2006
Mr. Tom Mattia
Dear Tom,
As
we discussed, we are delighted to offer you the position of Senior
Vice President, Public Affairs and Communications at The Coca-Cola
Company. The following provides details of the employment offer to
you:
Compensation
•
Your base salary will be $32,500 on
a monthly basis, which when annualized is $390,000.
•
You will be eligible to participate
in the Company's annual incentive program. This important element
of your total compensation plan is based on both individual
performance and the financial performance of the Company. Your
incentive target is eighty-five percent (85%) of your base salary.
For 2006, your incentive target will be at the 85% level, prorated
for the number of months you are participating in the plan and paid
on total company performance for the year. Annual incentives are
paid in the first quarter of the year following the plan
year—for example, 2006 awards will be paid 1 st
quarter 2007.
•
You will be recommended for participation in the
Company's long-term incentive program for the performance period
that begins January 1, 2007. The Compensation Committee of the
Board of Directors must approve your participation in this Plan and
will do so at a Board meeting following your employment. The target
value of your long-term incentive award under this program will be
approximately $1,265,000. This value may be revised from time to
time and will be delivered in a combination of stock options and
performance share units.
Relocation
•
Given that this position will be located at the
Company's offices in Atlanta, Georgia, you will be eligible to
participate in the Company's relocation program. Our relocation
services include assistance with house hunting, home sale and
purchase, and movement of household items. In addition, you will
receive 6 months of temporary living in a furnished apartment,
and trips to Dallas every second weekend to visit your family.
However, if you wish to have your family visit you in Atlanta,
instead of traveling to Dallas, we would provide travel support for
up to 3 visits. In the coming weeks, you will receive a call from
Linda Straw, your relocation contact
(cell:
and
office:
),
and she will help you and your family with the relocation to
Atlanta.
Make Whole Compensation
•
To recognize your loss of 2005
incentive from your current employer, you will receive a one-time
signing bonus equal to $195,000 gros
