📄 Extracted Text (330 words)
CATTERTON partners
599 West Putnam Avenue. Suite 200
Greenwich. CT 06830
vAwr.cpequity.com
October 21, 2009
Mr. Thomas Mottola
Chairman and CEO
Mottola Co.
590 Madison Avenue. 21st floor
New York, NY 10022
Dear Tommy:
On behalf of Catterton Partners ("Catterton") and the other members of the Board of
Directors at O.N.E. (the "Company"), we thank you for taking the time to speak with
each of us over the past couple weeks.
We could not be more excited at the prospect of you joining our Board of Directors. We
hope our discussions successfully conveyed the magnitude of the opportunity at O.N.E.,
and that you have a sense of the joint commitment of management, PBG and Catterton to
realize the inherent potential of the Company. We firmly believe that, together, we will
build upon the early success of the past two years and propel O.N.E. toward more rapid
growth and into a leader in functional beverages. Accordingly, we have capitalized the
Company to pursue broader distribution, line extensions into enhanced coconut waters,
and a sustainable marketing and PR program.
As you are aware, in addition to strategic guidance, Catterton and PBG take an active
approach to create the value we identify in every investment we undertake. We believe
this approach, combined with the strength of the executive team, and your assistance with
marketing and international opportunities will provide powerful catalysts to drive
extraordinary results at O.N.E.
Accordingly, we would welcome your formal participation on O.N.E.'s Board of
Directors.
Tenure and Remuneration
We envision an initial period of two years, renewable bi-annually for additional two year
term(s), as agreed to by the parties. For the initial two year period, O.N.E. will
compensate you in your capacity as a Board Member, as follows:
• Reasonable and customary out-of-pocket expenses, incurred with respect to
travel and attendance for board meetings; plus
• Incentive units equal to 0.50% of the Company's outstanding equity, as of the
issuance date commensurate with the start of your term.
EFTA00730399
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