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               Exhibit 10.1

                                 RUDDICK CORPORATION                     
EXECUTIVE BONUS INSURANCE PLAN                  
               

                                 This Ruddick Corporation Executive Bonus Insurance Plan (the "Plan") is made and entered into as of the date set forth below
                  by Ruddick Corporation, a corporation organized and existing under
                  the laws of the State of North Carolina (the "Company"), such Plan to
                  be effective as of August 19, 2010.
               

                                 1.    Definitions:
               

                                 1.1                   Affiliate means any corporation or other form of entity of which the Company
                  owns, from time to time, directly or indirectly, 50% or more of the
                  total combined voting power of all classes of stock or other equity
                  interests.
               

                                 1.2                   Board or                   Board of Directors means the Board of Directors of the Company.
               

                                 1.3                   Bonus Payment means the total amount payable to or on behalf of a Participant for
                  a Plan Year under this Plan, as provided in paragraph 3.2 below.

               

                                 1.4                   Change of Control means a "change in ownership," a "change in effective control," or a
                  "change in the ownership of substantial assets" of the Company, as
                  described in Treasury Regulation Section 1.409A-3(i)(5).

               

                                 1.5                   Committee means the Administrative Committee of the Plan appointed by the
                  Board of Directors.
               

                                 1.6                   Company means Ruddick Corporation, and shall also include any successor of
                  Ruddick Corporation.
               

                                 1.7                   Disabled or                   Disability means disability as defined in the Ruddick Corporation Flexible
                  Deferral Plan.
               

                                 1.8                   Eligible Employee means an executive employee of the Company or an Affiliate who is
                  selected by the Committee to participate in the Plan.
               

                                 1.9                   Enrollment Materials means the insurance application and related forms required by the
                  insurance carrier in order to issue insurance to the Participant
                  under the Plan.
               

                                 1.10                   Participant means an Eligible Employee (a) who is designated by the Committee
                  and who enrolls in the Plan, both in accordance with paragraph 2.1
                  hereof, and (b) whose participation hereunder has not terminated in
                  accordance with Section 4 hereof.
               

                                 1.11                   Plan means the Ruddick Corporation Executive Bonus Insurance Plan as
                  contained herein and as it may be amended from time to time
                  hereafter.
               

                                 1.12                   Plan                  Year means the calendar year.
               

                                 1.13                   Retirement Date means the date on which a Participant attains age 65.
               

                                 1.14                   Target Death Benefit means the aggregate amount payable upon the death of a Participant
                  under the insurance policies funded through this Plan, which shall be
                  determined by the Committee, at its sole and absolute discretion, and
                  communicated to the Participant in writing upon the Participant's
                  commencement of participation in the Plan.
               

                                 2.    Initial Participation:
               

                                 2.1                   Commencement of Participation. Participation hereunder shall commence when (a) an Eligible Employee
                  is designated by the Committee, (b) such Eligible Employee completes
                  the Enrollment Materials and provides such additional information as
                  may be required by the Committee. If an Eligible Employee fails to
                  complete the Enrollment Materials during the 90-day period
                  immediately following the date(s) on which he or she is requested by
                  the Company to complete the Enrollment Materials (or such longer or
                  shorter period as the Committee may specify), he or she shall forfeit
                  participation in the Plan and shall again be eligible for
                  participation hereunder only if later designated by the Committee.

               

                                 2.2                   No Continued Employment. No Participant shall have any right to continue in the employ of the
                  Company or an Affiliate for any period of time or any right to
                  continue his or her present or any other rate of compensation on
                  account of participation hereunder.
               

            

         

         			

         			

         			

      

      
         
            
               

                                 3.    Insurance Policies, Target Death Benefit and Bonus:
               

                                 3.1                   Insurance Policies. Benefits hereunder shall be funded solely through one or more
                  policies of insurance acquired on the life of each Participant
                  hereunder. The type and amount of any death benefit shall be
                  determined solely in accordance with the terms of each separate
                  insurance policy acquired hereunder. Nothing contained herein shall
                  be deemed to guarantee the availability, amount or payment of any
                  death or other form of benefit or right from any such policy. Except
                  as may be expressly provided herein, determination of any right
                  under, benefit in or payment from any such policy shall be determined
                  solely in accordance with the terms and conditions thereof.

               

                                 3.2                   Bonus Payments. During the term of his or her participation hereunder, determined in
                  accordance with Section 4 hereof, the Company shall pay for the
                  benefit of each Participant all annual premiums due with respect to
                  each policy acquired hereunder, which the Company, in its discretion,
                  may elect to prorate and pay in such increments as it determines to
                  be necessary or appropriate. In addition, the Company shall make an
                  additional Bonus Payment to a Participant with respect to the
                  Participant's benefit hereunder for a Plan Year equal to the
                  additional tax liability for the Participant created by providing a
                  life insurance policy under this Plan. The determination of the tax
                  gross-up payment may be made by the Company upon delegation of such
                  duty by the Committee at its sole and absolute discretion and shall
                  be paid to the Participant in cash in lump sum no later than two and
                  one-half (2 1⁄2) months following the end of the Plan Year in which the
                  premium is paid on behalf of the Participant. The payment of a tax
                  gross-up to a Participant in one Plan Year does not entitle the
                  Participant to payment of a tax gross-up in any subsequent Plan Year.

               

                                 3.3                   Limitations on Exercise of Policy Exercise Rights. Each Participant shall be named as the owner of each policy with
                  respect to which he or she is named as the insured, and he or she
                  shall possess the unilateral right to exercise all incidents of
                  ownership with respect to each such policy, without the requirement
                  of notice or consent by the Company; provided, however, that prior to
                  the termination of participation hereunder, a Participant:

               

               
                  	 	 	 	 	 	 	 	 	 



                        	 	 	 	 	a.	 	 	Shall not possess the authority to pledge, assign, encumber, borrow
                              against, withdraw from or otherwise dispose of the cash value of any
                              policy acquired hereunder;
                           	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	b.	 	 	Shall be entitled to transfer ownership of any policy acquired
                              hereunder only to an irrevocable trust established for the benefit of
                              the Participant's immediate family members; and
                           	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	c.	 	 	Shall not exercise any other policy owner rights, other than the
                              right to designate and change beneficiaries, without the prior
                              written consent of the Company.
                           	 



               
               Each Participant will cooperate by signing any forms that may be
                  necessary to comply with the requirements of this Section 3.3.
                  Failure to do so will result in the Participant's loss of his or her
                  eligibility to participate in the Plan. Notwithstanding the above,
                  when a Participant ceases to be eligible under the Plan, the Company
                  will take reasonable steps to release restrictive endorsements
                  previously agreed to by the Participant.
               

                                 3.4                   Target Death Benefit. As of the date on which participation hereunder commences in
                  accordance with paragraph 2.1 hereof, the Committee shall determine
                  the Participant's Target Death Benefit. The Company shall procure an
                  insurance policy or policies in the amount of the Target Death
                  Benefit as soon as practicable (consistent with the anniversary dates
                  of other policies of insurance under the Plan) after participation
                  hereunder commences. During the term of a Participant's participation
                  under the Plan, the Committee shall review the amount of the Target
                  Death Benefit, the assumed dividend earning rate and other aspects of
                  the policies provided hereunder and make such changes as it deems
                  necessary or appropriate. If a Participant refuses to comply with
                  such changes to the Participant's policy(ies) as are desired by the
                  Committee, such Participant shall no longer be eligible to
                  participate in the Plan.
               

                                 3.5                   Other Benefits. Participation in this Plan shall not impair or otherwise reduce
                  Executive's rate of compensation or other benefits provided by the
                  Company or its Affiliates; provided, however, that the value of any
                  Bonus Payment made hereunder shall not be treated as compensation for
                  purposes of computing the value or amount of any such other benefit.

               

            

         

         
                           
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                                 4.    Term of Participation:
               

                                 4.1                   Term. Except as provided in this Section 4 or in paragraph 5.2 hereof, a
                  Participant's participation in the Plan shall commence as of the date
                  determined in accordance with the provisions of paragraph 2.1 hereof
                  and shall cease as of the earlier of the Participant's:
               

               a. Retirement Date; or

               b. Death; or

               c. Termination of employment with the Company and its Affiliates.

                                 4.2                   Change of Control. Notwithstanding the provisions of paragraph 4.1 hereof, if a
                  Participant's employment is terminated for any reason (except
                  termination for cause as determined in the sole discretion of the
                  Company) within the two (2) year period following the date of a
                  Change of Control, then the Company shall continue to provide the
                  Bonus Payment to the Participant, in an amount not less than the
                  Bonus Payment for the Plan Year preceding the Plan Year in which the
                  Change of Control occurs, until the Participant's Retirement Date.
                  Notwithstanding the above, in the event the Participant is a party to
                  a change in control agreement with the Company that provides for
                  continuation of benefits under the Plan, to the extent the benefits
                  under the Plan exceed those provided by such change in control
                  agreement, the obligation to continue Bonus Payments under the Plan
                  will be offset by the benefits provided under the change in control
                  agreement. If the benefits provided by such change in control
                  agreement exceed those provided under the Plan, then the Participant
                  shall receive no benefits under the Plan, but shall receive the
                  benefits instead under such change in control agreement. In no event
                  shall the Participant receive duplicative benefits under both the
                  Plan and such change in control agreement.
               

                                 4.3                   Disability. Notwithstanding the provisions of paragraph 4.1 hereof, if a
                  Participant hereunder becomes Disabled prior to his or her
                  termination of employment with the Company and its Affiliates,
                  participation hereunder shall continue until the earlier of (a) the
                  Participant's Retirement Date, or (b) the date such Participant
                  ceases to be Disabled.
               

                                 5.    General Provisions:
               

                                 5.1                   Taxes. The Company shall withhold from each Participant such federal, state
                  and local income and employment taxes as are required by law, and the
                  Participant shall be responsible for payment of all income and other
                  taxes associated with the benefits provided hereunder. The Company,
                  however, will provide the tax gross-up Bonus Payment as stated in
                  Section 3.2 above.
               

                                 5.2                   Amendment and Termination. Prior to the consummation of a Change of Control, the Committee
                  and/or the Board of Directors, as the case may be, shall possess the
                  authority to amend the terms of the Plan or any Enrollment Materials
                  or to terminate the Plan, in their sole and absolute discretion.
                  After the consummation of a Change of Control, this Plan shall not be
                  terminated, and no amendment hereunder shall materially impair the
                  rights and benefits of any Participant hereunder, without the prior
                  written consent of each such affected Participant.
               

                                 5.3                   Governing Law. This Plan and any agreement, form or ancillary document related
                  thereto shall be governed by the internal laws of the State of North
                  Carolina, without regard to the conflicts of law provisions thereof,
                  to the extent not governed by federal law.
               

                                 5.4                   Binding Effect. This Plan and any agreement related hereto shall be binding upon and
                  inure to the benefit of the Company, its successors and assigns and
                  to the benefit of each Participant, including his or her heirs,
                  successors and assigns. The Company shall require any of its
                  successors or assigns, whether by merger, asset sale or other form of
                  acquisition, to expressly assume and agree to perform its obligations
                  hereunder in the same manner and to the same extent that the Company
                  would be required to perform them if no succession or assignment had
                  taken place.
               

                                 5.5                   Entire Agreement. This Plan, including any agreement or form related thereto, sets
                  forth the entire agreement of the parties hereto with respect to the
                  subject matter contained herein and supersedes all prior agreements,
                  promises, covenants, arrangements, communications, representations or
                  warranties, whether oral or written, by any person.
               

                                 5.6                   Administration. The Committee shall have the discretionary power and authority to (a)
                  designate Participants hereunder, (b) direct the procurement and
                  issuance of insurance policies hereunder, (c) construe and interpret
                  the provisions of the Plan and any form or agreement related
                  thereto, (d) establish and adopt rules, regulations, and procedures
                  relating to the Plan and to interpret, apply and construe such rules,
                  regulations and procedures, (e) resolve disputes hereunder, and (f)
                  make any other determination which it believes necessary or advisable
                  for the proper administration of the Plan. Decisions, interpretations
                  and actions of the Committee concerning matters related to the Plan
                  shall be final and conclusive on the Company, its Affiliates and
                  Participants.
               

            

         

         
                           
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               The Committee shall be deemed to have delegated the following
                  ministerial or administrative duties to the appropriate officers of
                  the Company, to be exercised without the requirement of further
                  notice or consent: the preparation and issuance of documents
                  evidencing participation hereunder; the execution of such documents
                  as may be necessary to obtain, issue or maintain insurance policies
                  hereunder; determination of the tax gross-up payment; the review of
                  the Target Death Benefit amount and other aspects of the Plan in
                  accordance with paragraph 3.4 hereof and the procurement of
                  additional policies of insurance to the extent necessary or
                  appropriate. The Committee may further delegate such additional
                  ministerial or administrative duties as it deems necessary or
                  appropriate from time to time.
               

                                 5.7                   No Assignment Incident to Divorce. No right or benefit available under the Plan nor any right or
                  benefit under a policy of insurance acquired hereunder shall be
                  subject to assignment, transfer or division on account of a division
                  of community or marital property, whether on account of separation,
                  the dissolution of marriage or otherwise. Any such division,
                  assignment or transfer shall be void and of no effect.
               

                                 5.8                   Resolution of Disputes. Any controversy or claim arising out of or relating to the Plan
                  shall be settled by final, binding and non-appealable arbitration in
                  Charlotte, North Carolina, by three arbitrators. Subject to the
                  following provisions, the arbitration shall be conducted in
                  accordance with the rules of the American Arbitration Association
                  (the "Association") then in effect. One of the arbitrators shall be
                  appointed by the Company, one shall be appointed by the affected
                  Participant, and the third shall be appointed by the first two
                  arbitrators. If the first two arbitrators cannot agree on the third
                  arbitrator within 30 days of the appointment of the second
                  arbitrator, then the third arbitrator shall be appointed by the
                  Association. Any award entered by the arbitrators shall be final and
                  binding and judgment may be entered thereon by either party in
                  accordance with applicable law in any court of competent
                  jurisdiction. This arbitration provision shall be specifically
                  enforceable. If the Participant prevails on all claims that are the
                  subject of such arbitration, the Company shall be responsible for all
                  administrative fees of the Association and the compensation of the
                  arbitrators; otherwise, the parties shall equally share the
                  administrative fees of the Association and the compensation of the
                  arbitrators. Each party shall be responsible for its own attorneys'
                  fees and expenses relating to the conduct of the arbitration.

               

                                 5.9                   Cooperation; Insurability. Each Participant shall make application to one or more insurers
                  designated by the Committee or the Company, as the case may be, for
                  the issuance of one or more policies of insurance in such face
                  amounts as may be determined by the Company or the Committee, from
                  time to time. Each Participant shall furnish any information
                  requested by the Company or the Committee to facilitate the issuance
                  of such policies, take such physical examinations as the Company or
                  the Committee may deem necessary, and take such other actions as may
                  be requested by the Company, the Committee, or the insurer, as the
                  case may be. If a Participant refuses to cooperate, is uninsurable or
                  is insurable at rates or pursuant to an underwriting classification
                  not acceptable to the Company or the Committee, then notwithstanding
                  any provision of this Plan to the contrary, the Committee, in its
                  discretion, may determine that such Participant is ineligible to
                  participate hereunder.
               

                                 This Executive Bonus Insurance Plan is adopted by Ruddick Corporation on December 14, 2010.
               

               
                  	 	 	 	 	 	 	 	 	 



                        	 	 	 	 	 	 
	 	 	 	 	                              RUDDICK CORPORATION:
                           	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	/s/ John B. Woodlief	 	 	 	 
	 	 	 	 	John B. Woodlief, Vice President - Finance and Chief Financial Officer	 



               
            

         

         
                           
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