EXECUTIVE DEFERRED COMPENSATION PLAN
(AMENDED AND RESTATED AS OF MARCH 1, 2000)
Anheuser-Busch Companies, Inc. (the "Company") adopted the Anheuser-Busch Executive Deferred
Compensation Plan (the "Plan") for the purpose of providing deferred compensation to a select group of
management and highly compensated employees, effective as of January 1, 1994. The Company reserved to
itself the right to amend the Plan. The Plan has been amended from time to time. The Company deems it
necessary and desirable to amend and restate the Plan in its entirety as hereinafter set forth, effective March 1,
Base Salary: The substantially equal amounts owed by a Participating Employer to an Employee on a regular
periodic basis in exchange for services rendered during a Year, regardless of when paid.
Bonus: Any amount awarded by a Participating Employer to an Employee for a Year under a bonus plan,
regardless of when awarded or paid.
Company: Anheuser-Busch Companies, Inc.
Effective Date: The original Effective Date was January 1, 1994. The Effective Date of this amendment and
restatement of the Plan is March 1, 2000.
Eligible Compensation: As to any Year, a Participant's Base Salary and Bonus for such Year. No payments
under the Company's Supplemental Life Insurance Program or any like program, taxable or non-taxable fringe
benefits, stock-related compensation, international service premiums or other cash or in-kind compensation shall
be taken into account as Eligible Compensation.
Eligible Employee: With respect to any Year, an Employee who satisfies the requirements for participation in the
Plan for the Year, as determined pursuant to Section II.
Employee: A salaried common-law employee of a Participating Employer as determined from time to time. In no
event shall any individual be classified as an Employee while he or she is in any of the following categories:
(a) Independent contractors, including non-employee directors of the Company