Management Change/Compensation Form 8 K

On October 18, 2024, Molson Coors Beverage Company (the "Company") announced that Sergey Yeskov, the President and Chief Executive Officer of the Company's EMEA&APAC business, resigned from the Company for personal reasons, effective October 17, 2024. In connection with his resignation, Mr. Yeskov, Zagrebačka Pivovara d.o.o., a wholly-owned subsidiary of the Company, and the Company have entered into a Mutual Agreement on Termination, dated October 17, 2024 (the "Termination Agreement").

Pursuant to the Termination Agreement, Mr. Yeskov will be placed on "garden leave" from October 17, 2024, until December 31, 2024, on which date Mr. Yeskov's employment will terminate (the "Termination Date"). Pursuant to the Termination Agreement, Mr. Yeskov will: (a) be entitled to a severance payment equal to one year of his current base salary, less applicable taxes and withholdings; (b) be eligible for a payout, if any, under the 2024 Molson Coors Incentive Plan in ordinary course on the same terms as other named executive officers of the Company, except his individual goal multiplier will be set at 100% of target; (c) be entitled to a cash payout equivalent to his 2022 performance share unit award in April 2025 at a minimum of 100% of target, up to 200% of target, based on actual Company results; (d) have (1) all of his other unvested equity awards cancelled as of the Termination Date, and (2) one year following the Termination Date to exercise stock options that have vested as of the Termination Date; and (e) be subject to certain customary restrictive covenants, including, but not limited to, certain non-compete provisions for the 12-month period following his "garden leave."

The foregoing description of the Termination Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Termination Agreement, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.