Document:

EX-10.1

 Exhibit 10.1 

ANNIE’S, INC. 

RETENTION PLAN FOR SELECTED EMPLOYEES 

AND 
 SUMMARY PLAN
DESCRIPTION 
 Effective August 28, 2014 

INTRODUCTION 
 The purpose
of the Plan is to provide an incentive for certain selected employees of the Company, who have been selected by senior management in its sole discretion based on their positions critical to the Company’s business and to the potential
consummation of a transaction, to remain employed with the Company through a specified retention period. Capitalized terms and phrases used herein shall have the meanings ascribed thereto in Article I. 

The Plan is intended to fall within the definition of an “employee welfare benefit plan” under Section 3(1) of the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”). Important administrative provisions of (and information about) the Plan and important information about the rights of a Participant (as defined below) under the
Plan and applicable law are contained in Appendix A. This Plan document will constitute both the plan document and summary plan description and will be distributed to Participants in this form. No employee or representative of the Company, any
Employer or its or their affiliates is authorized to modify, add to or subtract from these terms and conditions, except in accordance with the amendment and termination procedures described herein. 

ARTICLE I 
 DEFINITIONS

 For purposes of the Plan, capitalized terms and phrases used herein shall have the meanings ascribed in this Article. 

1.1 “Administrator” shall mean the Compensation Committee of the Board or its designee; provided that there is no
Compensation Committee of the Board in existence, “Administrator” shall mean the Board; and provided, further, that for purposes of the Retention Bonus Pool, “Administrator” shall mean the Company’s Chief Executive Officer.

 1.2 “Annual Bonus” shall mean, with respect to a Participant, the annual cash bonus (if any) for which such Participant
is eligible under the terms of the Company’s or an Employer’s annual bonus plan. 
 1.3 “Board” shall mean the
Board of Directors of the Company. 

 1.4 “Cause” shall have the same meaning as that term (or words of like import)
is defined in a Participant’s offer letter or other applicable employment agreement; or, if there is no such agreement, or if there is such agreement but it does not define “cause” (or words of like import), then “Cause”
shall mean, as determined by the Administrator in good faith, a Participant’s: 
 (a) failure to attempt to perform his or her material
employment-related duties (other than any such failure as a result of the Participant’s Disability or death), which failure has not been cured by the Participant within 30 business days of the Participant’s receipt of written notice of
such failure from his or her Employer; 
 (b) engaging in misconduct that has caused or is reasonably expected to result in material injury
to, or materially impair the goodwill of, an Employer that has not been cured by the Participant within 30 business days of the Participant’s receipt of written notice thereof from his or her Employer; 

(c) knowing and intentional violation of any material Company policy; 

(d) personal dishonesty or breach of fiduciary duty; 

(e) indictment for or conviction of, or entering a plea of guilty or nolo contendere to, a crime that constitutes a felony; or 

(f) breach of any material obligations under any written agreement or covenant with an Employer that has not been cured by the Participant
within 30 business days of the Participant’s receipt of written notice thereof from his or her Employer. 
 1.5 “Change in
Control” means, and shall be deemed to have occurred upon the occurrence of, any one of the following events: 
 (a) The
acquisition in one or more transactions, other than from the Company, by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act), other than the Company, a Subsidiary, an Affiliate or any
employee benefit plan (or related trust) sponsored or maintained by the Company, a Subsidiary or an Affiliate, of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of a number of the Company’s Voting
Securities in excess of 50% of the Company’s Voting Securities; 
 (b) Any election has occurred of persons to the Board that causes a
majority of the Board to consist of persons other than (i) persons who were members of the Board on the Effective Date and (ii) persons who were nominated for election as members of the Board at a time when a majority of the Board
consisted of persons who were members of the Board on the Effective Date, provided, however, that any person nominated for election by a Board at least a majority of whom constituted persons described in clauses (i) and/or (ii) or by
persons who were themselves nominated by such Board shall, for this purpose, be deemed to have been nominated by a Board composed of persons described in clause (i); 

(c) The consummation (i.e. closing) of a reorganization, merger or consolidation involving the Company, unless, following such
reorganization, merger or consolidation, all or substantially all of the individuals and entities who were the respective 

  
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beneficial owners of the Outstanding Common Stock and the Company’s Voting Securities immediately prior to such reorganization, merger or consolidation, following such reorganization, merger
or consolidation beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election
of directors or trustees, as the case may be, of the entity resulting from such reorganization, merger or consolidation in substantially the same proportion as their ownership of the Outstanding Common Stock and the Company’s Voting Securities
immediately prior to such reorganization, merger or consolidation, as the case may be; or 
 (d) The consummation (i.e. closing) of a
sale or other disposition of all or substantially all the assets of the Company, unless, following such sale or disposition, all or substantially all of the individuals and entities who were the respective beneficial owners of the Outstanding Common
Stock and the Company’s Voting Securities immediately prior to such sale or disposition, following such sale or disposition beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock
and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors or trustees, as the case may be, of the entity purchasing such assets in substantially the same proportion as their
ownership of the Outstanding Common Stock and the Company’s Voting Securities immediately prior to such sale or disposition, as the case may be. 
 For
purposes of the foregoing definition of “Change in Control”, an “Affiliate” shall mean an entity in which the Company has a controlling interest or such entity has a controlling interest in the Company (within the
meaning given such term with respect to Section 409A of the Code and Treas. Reg. Sec. 1.409A-1(b)(5)(iii)(E)(1)), in either case directly or indirectly through one or more intermediaries. 

1.6 “Code” shall mean the Internal Revenue Code of 1986, as amended. Any reference to any section of the Code shall also be a
reference to any successor provision and any Treasury Regulation promulgated thereunder. 
 1.7 “Company” shall mean
Annie’s, Inc. and its successors as provided in Article V. 
 1.8 “Company’s Voting Securities” means the
combined voting power of all outstanding voting securities of the Company entitled to vote generally in the election of directors to the Board. 

1.9 “Disability” shall mean a Participant’s absence from his or her duties with the Company on a full-time basis for
ninety (90) consecutive days or one hundred eighty (180) days in any three hundred sixty-five (365) day period as a result of the Participant’s incapacity due to mental or physical illness, in each case including holidays and
weekends. 
 1.10 “Effective Date” shall mean August 28, 2014. 

1.11 “Employer” shall mean the Company or any Subsidiary. 

1.12 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

  
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 1.13 “Good Reason” shall have the same meaning as that term (or words of like
import) is defined in a Participant’s offer letter or other applicable employment agreement; or, if there is no such agreement, or if there is such agreement but it does not define “good reason” (or words of like import), then
“Good Reason” shall mean the occurrence of any of the following events without the Participant’s consent that is not cured within thirty (30) days of written notice by the Participant to the Company of his or her intention to
resign for Good Reason, which shall contain a description of the event that the Participant claims constitutes Good Reason, and shall be given by the Participant to the Company within ninety (90) days after the occurrence of the event that the
Participant claims constitutes Good Reason: 
 (a) a reduction in the Participant’s base salary or target bonus opportunity; 

(b) a material and adverse change in the Participant’s duties and responsibilities; 

(c) a requirement that a Participant relocate his or her principal business location to a location that is more than fifty (50) miles
from the Participant’s principal business location as of the Participant’s Participation Date; or 
 (d) a material reduction in
the employee benefits provided to the Participant by the Participant’s Employer as determined on an aggregate basis. 
 A Participant’s
resignation for Good Reason shall not occur later than one hundred eighty (180) days following the initial date on which the event Participant claims constitutes Good Reason occurred. 

1.14 “Outstanding Common Stock” shall mean, at any time, the issued and outstanding shares of the common stock of the
Company, par value $0.001 per share. 
 1.15 “Participant” shall mean an employee of the Company (a) that is
designated from time to time as a participant in the Plan, (b) that has executed and delivered to the Administrator the Acknowledgment and Agreement set forth in a Notice of Participation provided by the Company to such employee in the form
attached hereto as Appendix B, and (c) whose participation in the Plan has not terminated pursuant to Section 4.1 of the Plan. The employees initially eligible to become Participants will be designated by the Administrator on or prior to
the Effective Date. The Administrator may designate employees as eligible to become Participants subsequent to the Effective Date. The Chief Executive Officer may designate employees of the Company other than an existing Participant or the Chief
Executive Officer of the Company as eligible to become Participants subsequent to the Effective Date. 
 1.16 “Participation
Date” shall mean the effective date of a Participant’s participation in the Plan as set forth in the Participant’s Notice of Participation. 

1.17 “Plan” shall mean the Annie’s, Inc. Retention Plan for Selected Employees, as may be amended from time to time.

  
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 1.18 “Qualifying Termination” shall mean a Participant’s termination of
employment (a) by the Employer without Cause; (b) by the Participant for Good Reason; (c) due to the Participant’s death; or (d) by the Employer due to a Participant having a Disability; in each case upon or following the
consummation of a Change in Control and prior to the ninetieth (90th) day following the date of such consummation of a Change in Control. 

1.19 “Retention Bonus” shall mean, with respect to a Participant, a cash award in an amount specified in such
Participant’s Notice of Participation. 
 1.20 “Retention Bonus Pool” shall mean a pool in an amount to be determined
by the Compensation Committee of the Board as of the Effective Date (which amount may be increased by the Compensation Committee of the Board in its sole discretion following the Effective Date), portions of which may be allocated in the form of
Retention Bonuses to Participants designated by the Chief Executive Officer of the Company pursuant to Section 1.15. 
 1.21
“Retention Period” shall mean, unless otherwise provided in a Participant’s Notice of Participation, the period commencing on the Participant’s Participation Date and ending on the ninetieth (90th) day following the date of the consummation of a Change in Control. 
 1.22
“Subsidiary” shall mean a subsidiary of the Company within the meaning of Section 424(f) of the Code. 
 ARTICLE II

 ELIGIBILITY, PAYMENTS AND BENEFITS 

2.1 Eligibility. A Participant will be eligible to receive his or her Retention Bonus in accordance with Section 2.2 if the
Participant remains employed by an Employer from the Participant’s Participation Date until the earlier of (i) the last day of the Retention Period or (ii) the date the Participant experiences a Qualifying Termination. 

2.2 Retention Bonus. A Participant who is eligible to receive a Retention Bonus shall receive his or her Retention Bonus in a
lump sum cash payment either: (a) within ten days of the last day of the Retention Period, if the Participant remains employed through the last day of the Retention Period; or (b) subject to Section 2.4 below, on the sixtieth day
following the date the Participant experiences a Qualifying Termination. Notwithstanding anything herein to the contrary, a Participant’s Retention Bonus shall be forfeited upon the Participant’s resignation other than for Good Reason
prior to the end of the Retention Period, or the Company’s termination of the Participant’s employment for Cause at any time prior to payment of the Retention Bonus. 

2.3 Annual Bonus. 

(a) A Participant who is eligible to receive a Retention Bonus and remains employed through the last day of the Company’s fiscal year of
the Company in which a Change in Control occurs shall receive his or her Annual Bonus for such fiscal year, determined based on 

  
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the Company’s good faith determination of achievement of performance for the full fiscal year, and payable at the time provided under the terms of the applicable bonus plan. A Participant
who is eligible to receive a Retention Bonus and experiences a Qualifying Termination prior to the last day of the fiscal year of the Company in which a Change in Control occurs will receive an amount equal to his or her Annual Bonus for such fiscal
year, based on target level performance, pro-rated by multiplying the such amount by a fraction the numerator of which is the number of days in the fiscal year to which such Annual Bonus relates during which the Participant was employed by the
Company and the denominator of which is 365, and payable within thirty (30) days following such Qualifying Termination. 
 2.4
Release Required. The payment of a Retention Bonus to a Participant (or the Participant’s estate, if applicable) who experiences a Qualifying Termination shall be conditioned upon the Participant’s (or the Participant’s
estate’s, if applicable) execution and delivery to the Company of a release of claims in favor of the Company and its Subsidiaries, in a form attached hereto as Appendix C (the “Release”), which Release must be effective
and non-revocable by no later than sixty (60) days following the date of the Participant’s Qualifying Termination. 
 2.5
Other Agreements. Nothing in the Plan shall prevent or limit the Participant’s continuing or future participation in any plan, program, policy or practice provided by the Employer and for which the Participant may qualify, nor
shall anything in the Plan limit or otherwise affect such rights as the Participant may have under any other contract or agreement with the Employer. 

2.6 No Duty to Mitigate/Set-off. No Participant shall be required to seek other employment or to attempt in any way to reduce
any amounts payable to the Participant pursuant to the Plan, and there shall be no offset against any amounts due to the Participant under the Plan on account of any remuneration attributable to any other amounts payable by an Employer to the
Participant or to any subsequent employment that the Participant may obtain or otherwise. The amounts payable hereunder shall not be subject to setoff, counterclaim, recoupment, defense or other right which the Company or the Employer may have
against the Participant. 
 2.7 Parachute Payments. 

(a) Notwithstanding any other provision of this Plan to the contrary, except as provided in Section 2.7(c), in the event that any
economic benefit, payment or distribution by the Company to or for the benefit of a Participant, whether paid, payable, distributed or distributable pursuant to the terms of this Plan or otherwise (a “Payment”) would be
subject to the excise tax imposed by Section 4999 of the Code (such excise tax, together with any interest or penalties related to such excise tax, referred to in this Plan as the “Excise Tax”), then the value of any
such Payments which constitute “parachute payments” within the meaning of Section 280G of the Code, as determined by the Accounting Firm (as defined below), will be reduced by such amount (the “Payment
Reduction”) so that the present value of all Payments (calculated in accordance with Section 280G of the Code and the regulations thereunder), in the aggregate, equals $1 less than 3 times the Participant’s “base
amount” (within the meaning of Section 280G(b)(3) of the Code). If a Payment Reduction is required under this Section 2.7(a) with respect to a Participant, such Participant’s Payments shall be reduced in reverse order in which

  
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the Payments are to be paid in accordance with the terms and conditions of their applicable arrangements, beginning with the Payments that are to be paid the furthest in time from the date of the
Accounting Firm’s determination. 
 (b) All determinations required to be made under this Section 2.7, including whether and when
a Payment is subject to Section 4999 and the assumptions to be utilized in arriving at such determination and in determining an appropriate Payment Reduction, will be made by the Company’s outside auditing firm at the time of such
determination (the “Accounting Firm”), which Accounting Firm will provide detailed supporting calculations to the Participant and the Company within 15 business days of the receipt of notice from the Company or the
Participant that there will be a Payment that the party giving notice believes may be subject to the Excise Tax. All fees and expenses of the Accounting Firm will be borne by the Company. Any determination by the Accounting Firm will be binding upon
the Company and the Participant in determining whether a Payment Reduction is required and the amount thereof, in the absence of material mathematical or legal error. 

(c) In the event of any conflict between the provisions of this Section 2.7 and the terms of any Participant’s employment agreement
with the Company that expressly addresses the treatment of any payments or benefits under Section 280G of the Code, the provisions of such employment agreement shall control with respect to such Participant. 

ARTICLE III 
 UNFUNDED
PLAN 
 3.1 Unfunded Status. The Plan shall be “unfunded” for the purposes of ERISA and the Code, and any
Retention Bonus shall be paid out of the general assets of the Company as and when payable under the Plan. All Participants shall be solely unsecured general creditors of the Company. If the Company decides in its sole discretion to establish any
advance accrued reserve on its books against the future expense of any Retention Bonus payable hereunder, or if the Company decides in its sole discretion to fund a trust under the Plan, such reserve or trust shall not under any circumstances be
deemed to be an asset of the Plan. 
 ARTICLE IV 

TERM OF THE PLAN; AMENDMENT 

4.1 Term of the Plan. The Plan shall be effective on the Effective Date and continue until terminated by the Company in
accordance with Section 4.2 below. A Participant’s participation in the Plan will automatically terminate upon the earliest of (i) the Participant’s termination by the Company for Cause, (ii) the Participant’s
resignation other than for Good Reason prior to the end of the Retention Period, (iii) the Participant’s receipt of a Retention Bonus, and (iv) the termination of the Plan in accordance with Section 4.2 prior to the Participant
obtaining a right to receive a payment under this Plan. 
 4.2 Amendment; Termination. The Plan may not be amended or
terminated in any manner that adversely affects the rights and entitlements of any Participant then participating in 

  
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the Plan prior to the first anniversary of the Effective Date; provided, that if a Change in Control occurs prior to the first anniversary of the Effective Date, then the Plan may not be amended
or terminated in any manner that adversely affects the rights and entitlements of any Participant then participating in the Plan prior to the first anniversary of the date of the consummation of such Change in Control. Thereafter, the Company
reserves the right to amend, in whole or in part, any or all of the provisions of the Plan, or to terminate the Plan, in either case by action of the Administrator at any time and for any reason. Notwithstanding the foregoing, once a Participant has
become entitled to receive any payments or benefits under the Plan, the Plan may not be amended or terminated to reduce such payments or benefits. 

ARTICLE V 
 SUCCESSORS

 For purposes of the Plan, the Company shall include any and all successors or assignees, whether direct or indirect, by purchase,
merger, consolidation or otherwise, to all or substantially all the business or assets of the Company, and such successors and assignees shall perform the Company’s obligations under the Plan in the same manner and to the same extent that the
Company would be required to perform if no such succession or assignment had taken place. Except where a successor shall become liable to so perform under the Plan by operation of law, the Company shall cause any such successor or assignee to assume
and expressly agree to perform the Company’s obligations under the Plan. In the event the surviving corporation in any transaction to which the Company is a party is a subsidiary of another corporation, then the Company shall cause the ultimate
parent corporation of such surviving corporation to cause the surviving corporation to perform the Plan in the same manner and to the same extent that the Company would be required to perform if no such succession or assignment had taken place. In
such event, the term “Company” as used in the Plan, shall mean the Company, as hereinbefore defined and any successor or assignee (including the ultimate parent corporation) to the business or assets of the Company, which by reason hereof
becomes bound by the terms and provisions of the Plan. 
 ARTICLE VI 

MISCELLANEOUS 
 6.1
Non-Employment; Limitation of Rights. The Plan is not an agreement of employment and nothing contained herein shall be construed as conferring upon a Participant the right to continue in the employ of the Employer as an employee in any
other capacity or to interfere with the Employer’s right to discharge him or her at any time for any reason whatsoever. 
 6.2
Payment Not Salary. Any payment of the Retention Bonuses payable under the Plan shall not be deemed salary or other compensation to the Participant for the purposes of computing benefits to which he or she may be entitled under any
pension plan or other arrangement of the Company or the Employer maintained for the benefit of its employees, unless such plan or arrangement provides otherwise. 

  
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 6.3 Severability. In case any provision of the Plan shall be illegal or invalid for
any reason, said illegality or invalidity shall not affect the remaining parts hereof, but the Plan shall be construed and enforced as if such illegal and invalid provision never existed. 

6.4 Withholding. The Company and/or the Employer shall have the right to make such provisions as it deems necessary or
appropriate to satisfy any obligations it may have to withhold federal, state or local income or other taxes incurred by reason of payments pursuant to the Plan. In lieu thereof, the Company and/or the Employer shall have the right to withhold the
amounts of such taxes from any other sums due or to become due from the Company and/or the Employer to the Participant upon such terms and conditions as the Administrator may prescribe. 

6.5 Non-Alienation of Benefits. The Retention Bonuses payable under the Plan shall not be subject to alienation, transfer,
assignment, garnishment, execution or levy of any kind, and any attempt to cause the Retention Bonuses to be so subjected shall not be recognized. 

6.6 Governing Law. To the extent legally required, the Code and ERISA shall govern the Plan. To the extent not governed by the
Code and ERISA, the Plan shall be construed under and governed by the laws of the State of California, without reference to any otherwise applicable principles or rules relating to conflicts of law. 

6.7 Section 409A of the Code. 

(a) General. Although the Company makes no guarantee with respect to the tax treatment of payments or benefits hereunder and shall not
be responsible in any event with regard to non-compliance with Section 409A of the Code, the Plan is intended to either comply with, or be exempt from, the requirements of Section 409A of the Code and shall be limited, construed and
interpreted in accordance with such intent. Notwithstanding the foregoing, in no event whatsoever shall the Company or any Employer be liable for any additional tax, interest or penalty that may be imposed on a Participant by Section 409A of
the Code or any damages for failing to comply with Section 409A of the Code. 
 (b) Separation from Service; Specified
Employees. A termination of employment shall not be deemed to have occurred for purposes of any provision of this Plan providing for the payment of any amounts or benefits upon or following a termination of employment that are considered
“non-qualified deferred compensation” under Section 409A of the Code unless such termination is also a “separation from service” within the meaning of Section 409A of the Code and, for purposes of any such provision of
this Plan, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” If a Participant is deemed on the date of termination to be a “specified employee”
within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment that is considered non-qualified deferred compensation under Section 409A of the Code payable on account of a “separation from
service,” such payment or benefit shall be made or provided in a cash lump sum at the date which is the earlier of (A) the expiration of the six (6)-month period measured from the date of such “separation from service” of the
Participant, and (B) the date of the Participant’s death. 

  
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 (c) No Participant Discretion. Whenever a payment under this Agreement specifies a payment
period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of the Company. In no event may the Participant, directly or indirectly, designate the calendar year of any payment
to be made under the Plan. 
 6.8 Non-Exclusivity. The adoption of the Plan by the Company shall not be construed as creating
any limitations on the power of the Company to adopt such other supplemental retirement income arrangements as it deems desirable, and such arrangements may be either generally applicable or limited in application. 

6.9 Headings and Captions. The headings and captions herein are provided for reference and convenience only. They shall not be
considered part of the Plan and shall not be employed in the construction of the Plan. 
 6.10 Gender and Number. Whenever
used in the Plan, the masculine shall be deemed to include the feminine and the singular shall be deemed to include the plural, unless the context clearly indicates otherwise. 

6.11 Communications. Any notice or other communication required or permitted to be given under the Plan (a
“Notice”) will be in writing and delivered in person, by facsimile transmission (with a Notice contemporaneously given by another method specified in this Section 6.11), by overnight courier service or by postage prepaid mail
with a return receipt requested, at the following locations (or to such other address as either party may have furnished to the other in writing by like Notice). All such Notices will only be duly given and effective upon receipt (or refusal of
receipt). 
 If to a Participant, at the last address (or to the facsimile number) shown for the Participant on the records of the Company.

 If to Company: 

Annie’s, Inc. 
 1610 Fifth
Street 
 Berkeley, CA 94710 

Attention: Steve Richie, Vice President, Legal 

6.12 Plan Administrator. The general administration of the Plan on behalf of the Company (as plan administrator under
Section 3(16)(A) of ERISA) shall be placed with the Administrator. 
 6.13 Indemnification. The Administrator, its
members and any person to whom the Administrator designates any of its powers and responsibilities hereunder shall not be liable for any action or determination made in good faith with respect to the Plan. The Company shall, to the fullest extent
permitted by law, indemnify and hold harmless each member of the Administrator and each director, officer and employee of the Company, and any person designated above, for liabilities or expenses they and each of them incur in carrying out their
respective duties under the Plan. 

  
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 APPENDIX A 

PROVISIONS RELATING TO ERISA 
  

	 	A.	Claims Procedure 

 1. Any claim by Participant or his or her beneficiary
(“Claimant”) with respect to eligibility, participation, contributions, benefits or other aspects of the operation of the Plan shall be made in writing to a person designated by the Administrator from time to time for such
purpose. If the designated person receiving a claim believes that the claim should be denied, he or she shall notify the Claimant in writing of the denial of the claim within ninety (90) days after his or her receipt thereof. This period may be
extended an additional ninety (90) days in special circumstances and, in such event, the Claimant shall be notified in writing of the extension, the special circumstances requiring the extension of time and the date by which the
Administrator’s designee expects to make a determination with respect to the claim. If the extension is required due to the Claimant’s failure to submit information necessary to decide the claim, the period for making the determination
will be tolled from the date on which the extension notice is sent until the date on which the Claimant responds to the Plan’s request for information. 

2. If a claim is denied in whole or in part, or any adverse benefit determination is made with respect to the claim, the Claimant will be
provided with a written notice setting forth (a) the specific reason or reasons for the denial making reference to the pertinent provisions of the Plan or of Plan documents on which the denial is based, (b) a description of any additional
material or information necessary to perfect or evaluate the claim, and explain why such material or information, if any, is necessary, and (c) inform the Claimant of his or her right, pursuant to Paragraph A(3) of this Appendix, to request
review of the decision. The notice shall also provide an explanation of the Plan’s claims review procedure and the time limits applicable to such procedure, as well as a statement of the Claimant’s right to bring a civil action under
Section 502(a) of ERISA following an adverse benefit determination on review. If a Claimant is not notified (of the denial or an extension) within ninety (90) days from the date the Claimant notifies the Administrator’s designee, the
Claimant may request a review of the application as if the claim had been denied. 
 3. A Claimant may appeal the denial of a claim by
submitting a written request for review to the Administrator, within sixty (60) days after written notification of denial is received. Such period may be extended by the Administrator for good cause shown. The claim will then be reviewed by the
Administrator. In connection with this appeal, the Claimant (or his or her duly authorized representative) may (a) be provided, upon written request and free of charge, with reasonable access to (and copies of) all documents, records, and other
information relevant to the claim; and (b) submit to the Administrator written comments, documents, records, and other information related to the claim. If the Administrator deems it appropriate, it may hold a hearing as to a claim. If a
hearing is held, the Claimant shall be entitled to be represented by counsel. 
 4. The review by the Administrator will take into account
all comments, documents, records, and other information the Claimant submits relating to the claim. The 

 
Administrator will make a final written decision on a claim review, in most cases within sixty (60) days after receipt of a request for a review. In some cases, the claim may take more time
to review, and an additional processing period of up to sixty (60) days may be required. If that happens, the Claimant will receive a written notice of that fact, which will also indicate the special circumstances requiring the extension of
time and the date by which the Administrator expects to make a determination with respect to the claim. If the extension is required due to the Claimant’s failure to submit information necessary to decide the claim, the period for making the
determination will be tolled from the date on which the extension notice is sent to the Claimant until the date on which the Claimant responds to the Plan’s request for information. 

5. The Administrator decision on the claim for review will be communicated to the Claimant in writing. If an adverse benefit determination is
made with respect to the claim, the notice will include (a) the specific reason(s) for any adverse benefit determination, with references to the specific Plan provisions on which the determination is based; (b) a statement that the
Claimant is entitled to receive, upon request and free of charge, reasonable access to (and copies of) all documents, records and other information relevant to the claim; and (c) a statement of the Claimant’s right to bring a civil action
under Section 502(a) of ERISA. 
 6. Nothing herein shall preclude a Participant (or any beneficiary) from commencing a lawsuit or
pursuing his or her remedies under section 502(a) of ERISA notwithstanding the procedures set forth herein and there shall be no requirement that these procedures be exhausted before a Participant (or any beneficiary) may bring a legal action
seeking payment of benefits. Any review by the Administrator shall be on a de novo basis based on the terms of the Plan. 
  

	 	B.	Plan Interpretation and Benefit Determination 

 1. The Administrator (or, where
applicable, any duly authorized delegee of the Administrator) shall have the exclusive right, power, and authority, in its sole and absolute discretion, to administer, apply and interpret the Plan and any other documents, and to decide all factual
and legal matters arising in connection with the operation or administration of the Plan. 
 2. Without limiting the generality of the
foregoing paragraph, the Administrator (or, where applicable, any duly authorized delegee of the Administrator) shall have the sole and absolute discretionary authority to: 

i take all actions and make all decisions (including factual decisions) with respect to the eligibility for, and the amount of, benefits
payable under the Plan; 
 ii formulate, interpret and apply rules, regulations and policies necessary to administer the Plan; 

iii decide questions, including legal or factual questions, relating to the calculation and payment of benefits, and all other determinations
made, under the Plan; 

  
 A-2 

 iv resolve and/or clarify any factual or other ambiguities, inconsistencies and omissions
arising under the Plan or other Plan documents; and 
 v process, and approve or deny, benefit claims and rule on any benefit exclusions.

 All determinations made by the Administrator (or, where applicable, any duly authorized delegee of the Administrator) with respect to any matter arising
under the Plan shall be final and binding on the Company, the Participant, any beneficiary, and all other parties affected thereby. 
  

	 	C.	Statement of Participants Rights Under ERISA. 

 As a participant in the Plan you are
entitled to certain rights and protections under ERISA. ERISA provides that all Plan participants shall be entitled to: 
 1. Receive
Information About Your Plan and Benefits 
 (a) Examine, without charge, at the Administrator’s office and at other specified
locations, such as worksites, all documents governing the Plan. 
 (b) Obtain, upon written request to the Administrator, copies of
documents governing the operation of the Plan. The Administrator may make a reasonable charge for the copies. 
 2. Prudent Actions by
Plan Fiduciaries. In addition to creating rights for Plan participants, ERISA imposes duties upon the people who are responsible for the operation of the employee benefit plan. The people who operate your Plan, called “fiduciaries” of
the Plan, have a duty to do so prudently and in the interest of you and other Plan participants and beneficiaries. No one, including your employer or any other person, may fire you or otherwise discriminate against you in any way to prevent you from
obtaining a welfare benefit or exercising your rights under ERISA. 
 3. Enforce Your Rights 

(a) If your claim for a welfare benefit is denied or ignored, in whole or in part, you have a right to know why this was done, to obtain
copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules. 
 (b) Under
ERISA, there are steps you can take to enforce the above rights. For instance, if you request a copy of Plan documents or the latest annual report from the Plan and do not receive them within 30 days, you may file suit in a Federal court. In such a
case, the court may require the Administrator to provide materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the Administrator. If you have a claim for
benefits which is denied or ignored, in whole or in part, you may file suit in a state or Federal court. If you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a
Federal court. The court will decide who should pay court costs and legal fees. If 

  
 A-3 

 
you are successful the court may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim
is frivolous. 
 4. Assistance with Your Questions. 

If you have any questions about your Plan, you should contact the Administrator. If you have any questions about this statement or about your rights under
ERISA, or if you need assistance in obtaining documents from the Administrator, you should contact the nearest office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone directory or the Division of
Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210. You may also obtain certain publications about your rights and responsibilities under
ERISA by calling the publications hotline of the Employee Benefits Security Administration. 
 D. Plan Document. This document
(i.e., the Plan and the Appendices) shall constitute both the plan document and summary plan description and shall be distributed to Participants in this form. 

E. Other Important Facts. 
  

			
	OFFICIAL NAME OF THE PLAN:	  	Annie’s, Inc. Retention Plan for Selected Employees
		
	SPONSOR:	  	Annie’s, Inc.
		  	1610 Fifth Street
		  	Berkeley, CA 94710
		  	(510) 558-7500
		
	EMPLOYER IDENTIFICATION NUMBER (EIN):	  	20-1266625
		
	PLAN NUMBER:	  	502
		
	TYPE OF PLAN:	  	Employee Welfare Severance Benefit Plan
		
	END OF PLAN YEAR:	  	March 31
		
	TYPE OF ADMINISTRATION:	  	Employer Administered
		
	PLAN ADMINISTRATOR:	  	The Administrator, as designated by the Board
		  	Annie’s, Inc.
		  	1610 Fifth Street
		  	Berkeley, CA 94710
		  	(510) 558-7500
		
	EFFECTIVE DATE:	  	August 28, 2014

  
 A-4 

 The Administrator keeps records of the Plan and is responsible for the administration of the
Plan. The Administrator will also answer any questions a Participant may have about the Plan. 
 Service of legal process may be made upon
the Administrator. 

  
 A-5 

 APPENDIX B 

FORM OF 

NOTICE OF PARTICIPATION 

Annie’s, Inc. 
 1610
Fifth Street 
 Berkeley, CA 94710 
 Date 

[Name of Participant] 
 c/o Annie’s, Inc. 

1610 Fifth Street 
 Berkeley, CA 94710 

Dear                     : 

We are pleased to inform you that effective                  ,
20     (your “Participation Date”), you are eligible to participate in Annie’s Retention Plan for Select Employees. You have been selected to participate in this Plan because your knowledge, skills and abilities
are critical to ensuring the successful completion of an anticipated merger. To show our appreciation for your work during this period your retention bonus will be $[—]. Due to the extremely
sensitive nature of this event, you are asked not to share with anyone the details of this agreement. Should you have any questions, please address them to Janet Brady, Human Resources. 

Your retention bonus is subject to your continued service through the last day of your Retention Period, or if earlier, a Qualifying Termination (as defined
in the Plan). Your Retention Period will be the period beginning on your Participation Date and ending on the 90th day following the consummation of a Change in Control. Your participation in the
Plan will be governed by the terms and conditions of the Plan document, a copy of which is enclosed for your reference. To accept participation in the Plan, please sign and date the “Acknowledgement and Agreement” below and return it to me
at the address above or by facsimile at [                    ]. Upon our receipt of your signed and dated Acknowledgement and Agreement, you will
become entitled to all rights and benefits provided to you under the Plan, subject to all provisions and conditions thereof. 
  

			
	Sincerely,
		
	By:	 	  

	Name:	 	John Foraker
	Title:	 	CEO Annie’s Inc.

 ACKNOWLEDGEMENT AND AGREEMENT: 

In consideration of my participation in the Plan, I hereby acknowledge and agree to the terms and conditions of the Plan, including Section 2.7 thereof.

  

			
	  

	[Name of Participant]
	Date:	 	

  
 B-2 

 APPENDIX C 

FORM OF GENERAL RELEASE OF CLAIMS 

This General Release and Waiver (this “Release”) is entered into as of
                     by [—] (the “Participant”), on the one hand, and
Annie’s, Inc. (the “Company”), on the other hand (the Participant and the Company are referred to collectively as the “Parties”). Capitalized terms used but not defined herein shall have the same meaning
as set forth in the Company’s Retention Plan for Selected Employees (the “Plan”). 
 1. General Release and
Waiver. In consideration of the payments or benefits provided under the Plan, and for other good and valuable consideration, receipt of which is hereby acknowledged, the Participant, for himself or herself and for his or her heirs, executors,
administrators, trustees and legal representatives, and their respective successors and assigns (collectively, the “Releasors”), hereby releases, remises, and acquits the Company and its Subsidiaries and all of its and their
respective past, present and future parent entities, subsidiaries, divisions, affiliates and related business entities, any of their respective assets, employee benefit plans or funds, or past, present or future directors, officers, fiduciaries,
agents, trustees, administrators, managers, supervisors, shareholders, investors, employees, legal representatives, agents or counsel, and their respective successors and assigns, whether acting on behalf of the Company or its Subsidiaries or, in
their individual capacities (collectively, the “Releasees” and each a “Releasee”) from any and all claims, known or unknown, which the Releasors have or may have against any Releasee arising on or
prior to the date that the Participant executes this Release, and any and all liability which any such Releasee may have to the Releasors, whether denominated claims, demands, causes of action, obligations, damages or liabilities arising from any
and all bases, however denominated, including but not limited to (a) any claim under the Age Discrimination in Employment Act of 1967 (including the Older Workers Benefit Protection Act), the Americans with Disabilities Act of 1990, the Family
and Medical Leave Act of 1993, the Civil Rights Act of 1964, the Civil Rights Act of 1991, Section 1981 of the Civil Rights Act of 1866, the Equal Pay Act, the Lilly Ledbetter Fair Pay Act, the Immigration Reform and Control Act of 1986, the
Employee Retirement Income Security Act of 1974 (excluding claims for accrued, vested benefits under any employee benefit or pension plan of the Company, subject to the terms and conditions of such plan and applicable law), the Uniform Trade Secrets
Act, the Sarbanes-Oxley Act of 2002, the Fair Labor Standards Act, the California Fair Employment and Housing Act, the Unruh Civil Rights Act, the California Family Rights Act, and the California Labor, Government, and Business and Professions
Codes, all as amended; (b) any and all claims arising from or relating to, as applicable, the Participant’s service as an officer of the Company or any of its subsidiaries or affiliates and the termination or resignation of such officer
positions, or the Participant’s employment with the Company or the termination of such employment; (c) all claims related to the Participant’s compensation or benefits from the Company or the Releasees, including salary, bonuses,
commissions, vacation pay, leave pay, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership interests in the Company or the Releasees; (d) all claims for breach of contract, wrongful termination
and breach of the implied covenant of good faith and fair dealing; (e) all tort claims, including claims for fraud, defamation, privacy rights, emotional distress, and discharge in violation of public policy and all other claims under common
law; and (f) all federal, state and local statutory or constitutional claims, including 

 
claims for compensation, discrimination, harassment, whistleblower protection, retaliation, attorneys’ fees, costs, disbursements, or other claims (referred to collectively as the
“Released Claims”). 
 The Participant expressly waives all rights afforded by Section 1542 of the Civil Code
of the State of California, which states as follows: 
 “A general release does not extend to claims which the creditor does not
know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.” 

The Participant understands the significance of the Participant’s release of unknown claims and waiver of statutory protection against a
release of unknown claims. The Participant expressly assumes the risk of such unknown and unanticipated claims and agrees that this Release applies to all Released Claims, whether known, unknown or unanticipated. 

Notwithstanding the foregoing, this Release does not release the right to file a charge with or participate in a charge by the Equal
Employment Opportunity Commission (“EEOC”), or any other local, state, or federal administrative body or government agency that is authorized to enforce or administer laws related to employment, against the Company. However,
by executing this Release, the Participant hereby waives the right to monetary recovery, no matter how denominated, including, but not limited to, wages, back pay, front pay, compensatory damages or punitive damages, in any proceeding the
Participant may bring before the EEOC or any state human rights commission or in any proceeding brought by the EEOC or any state human rights commission on the Participant’s behalf. 

In addition, this Release shall not apply to (i) the Participant’s rights under any written agreement between the Participant and
the Company, including without limitation any written employment agreement and any written agreement that provides for indemnification, the Participant’s rights, if any, to be covered under any applicable insurance policy with respect to any
liability the Participant incurred or might incur as an employee, officer or director of the Company, or the Participant’s rights, if any, to indemnification under the by-laws or articles of incorporation of the Company; (ii) any right the
Participant may have to obtain contribution as permitted by law in the event of entry of judgment against the Participant as a result of any act or failure to act for which the Participant, on the one hand, and Company or any other Releasee, on the
other hand, are jointly liable; (iii) any right the Participant may have to the receipt of employee benefits or other payments which were earned and vested on or prior to the date of this Release; or (iv) any claims that cannot be waived
by applicable law. 
 2. Acknowledgement of Payments Provided. The payments and benefits provided under the Plan (the
“Consideration”), exceed any wages, payment, insurance, benefit, or other thing of value to which the Participant otherwise is entitled under any policy, plan or procedure of the Company or any other agreement between the
Participant and the Company, but for this Release. The Company has paid the Participant’s final wages (including any accrued, unused PTO) and all other accrued benefits in full and that the Participant has submitted and been reimbursed in full
for all reasonable and necessary business expenses incurred through the date of the Participants termination of employment. 

  
 C-2 

 3. No Claims. The Participant represents that there are no claims or actions currently
filed or pending relating to the subject matter of the Release, the Plan or any Released Claims. The Participant shall not file or permit to be filed on the Participant’s behalf any such claims or actions. The Participant hereby requests all
administrative agencies having jurisdiction over employment and labor law matters and courts to honor the Participant’s release of claims under this Release. Should the Company ever request the Participant to execute any administrative
dismissal forms, the Participant shall immediately execute the form and return it to the Company. Should the Participant file any claim or action relating to the subject matter of this Release, the Separation Agreement or any Released Claims, such
filing shall be considered an intentional breach of the Release and the Participant will be liable for the Company’s damages and costs, including without limitation, the amount of any payments paid to the Participant pursuant to the Plan, and
in addition the Company will retain the right to pursue any other remedy available to it under law and equity. The Participant further represents that Participant has not failed to report any work-related occupational injuries or diseases arising
out of or in the course of employment with the Company. 
 4. No Admission. This Release does not constitute an admission of
liability or wrongdoing of any kind by the Company or any other Releasee. This Release is not intended, and shall not be construed, as an admission that any Releasee has violated any federal, state or local law (statutory or decisional), ordinance
or regulation, breached any contract or committed any wrong whatsoever against any Releasor. 
 5. Miscellaneous. This Release will
be construed and enforced in accordance with the laws of the State of California without regard to the principles of conflicts of law. If any provision of this Release is held by a court of competent jurisdiction to be illegal, void or
unenforceable, such provision shall have no effect; however, the remaining provisions will be enforced to the maximum extent possible. Should any provision of this Release require interpretation or construction, it is agreed by the Parties that the
entity interpreting or constructing this Release shall not apply a presumption against one party by reason of the rule of construction that a document is to be construed more strictly against the Party who prepared the document. The Parties agree to
bear their own attorneys’ fees and costs with respect to this Release. 
 6. Knowing and Voluntary Waiver. The Participant:
(a) has carefully read this Release in its entirety; (b) has had an opportunity to consider it for at least [21] [45] calendar days, or has waived all or any portion of such [21] [45]-day
period;1 (c) is hereby advised by the Company in writing to consult with an attorney of his or her choosing in connection with this Release; (d) fully understands the significance of all
of the terms and conditions of this Release and has discussed them with his or her independent legal counsel, or had a reasonable opportunity to do so; (e) has had answered to his satisfaction any questions he or she has asked with regard to
the meaning and significance of any of the provisions of this Release and has not relied on any statements or explanations made by any Releasee or their counsel; (f) understands that he or she has seven calendar days in which to revoke this
Release after signing it and (g) is signing this Release voluntarily and of his or her own free will and agrees to abide by all the terms and conditions contained herein. 

 

	1 	The Company will use 21 or 45 days, as required by law based on the number of terminated employees. 

  
 C-3 

 7. Return of Company Property. The Participant represents that he or she has made a
diligent search for any Company property in his or her possession or control and that he or she has returned all such property to the Company. 

8. Counterparts. This Release may be signed in multiple counterparts, each of which shall be deemed an original. Any executed
counterpart returned by facsimile or electronic transmission shall be deemed an original executed counterpart. 
 IN WITNESS WHEREOF, the Participant
has executed this Agreement as of the      day of                  ,         . 

 

	
	  

	
	[NAME]

  
 C-4EX-10.2

 Exhibit 10.2 

RETENTION AGREEMENT 

This Retention Agreement (the “Agreement”) is entered into as of September 8, 2014, by and between Annie’s,
Inc., a Delaware Corporation (the “Company”), General Mills, Inc., a Delaware Corporation (“Parent”), and John Foraker (“Employee”) with reference to the following: 

RECITALS 

WHEREAS, Employee has been serving as the Chief Executive Officer of the Company pursuant to the terms of an Employment Agreement,
effective as of February 22, 2012, between Employee and the Company (the “Prior Agreement”); 
 WHEREAS,
contemporaneous with the execution of this Agreement, Parent and the Company are entering into an Agreement and Plan of Merger (the “Merger Agreement”) pursuant to which a wholly owned subsidiary of the Parent shall be merged
with and into the Company (the “Merger”), effective as of the Closing Date (as defined in the Merger Agreement); 

WHEREAS, Employee is a holder of common stock of the Company and as such has a substantial ownership interest in the Company and will
receive significant consideration from the consummation of the Merger; 
 WHEREAS, to preserve the value of the Company after the
Closing Date, the Merger Agreement contemplates, among other things, that Employee shall enter into this Agreement; 
 WHEREAS,
Employee possesses valuable confidential information and knowledge regarding the Company’s business, and the parties agree that the non-competition and non-solicitation covenants contained herein are reasonable and no broader than necessary
to protect the goodwill of the Company after the Closing Date; and 
 WHEREAS, this Agreement shall supersede and replace in all
respects the Prior Agreement. 
 NOW, THEREFORE, in consideration of the foregoing, of the mutual promises contained herein and of
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
  

	1.	EFFECTIVE DATE AND TERM OF EMPLOYMENT. 

 The term of this Agreement shall become
effective on the Closing Date (hereafter the “Effective Date”) and shall continue in effect for a one-year period (the “Retention Term”), unless earlier terminated in accordance with Section 7
(the “Term”). If Employee remains employed by the Company after expiration of the Retention Term, such continued employment shall be on such terms and conditions as may be established from time to time by the Company.
Notwithstanding the foregoing, if the Merger Agreement terminates without the Closing (as defined in the Merger Agreement) occurring, then this Agreement shall terminate upon the termination of the Merger Agreement in accordance with its terms. 

	2.	POSITION AND DUTIES. 

 a. During the Term, Employee shall serve as President of the
Company, reporting to the Parent’s President of Small Planet Foods or such other person as the Parent may designate. Employee shall have such duties and responsibilities as the Parent shall assign from time to time, including without
limitation: (1) guiding business operations and external communications during the transition period following the Merger; (2) assisting in the development of the Company’s business objectives, policies and plans to achieve revenue,
profitability and development goals in line with the Company’s objectives; (3) assisting in the development and execution of an integration plan between the Parent and the Company; (4) maintaining and fostering vendor, supplier,
customer, industry, and other business relationships; (5) serve as a cultural steward, keeping employees engaged & positively representing to employees the benefits of the Merger; and (6) consulting on opportunities for the Parent
more broadly. Employee’s duties will be conducted principally from the Company’s offices in Berkeley, California, with travel to such other locations as required by the Company, which may include without limitation travel to customer
sites, industry events and facilities of the Company and its affiliates; provided, however, that such travel shall generally be consistent, in aggregate duration and geographic scope, with Employee’s historic Company business travel. 

b. During the Term, Employee shall devote his full business time (excluding periods of vacation and reasonable periods of absence due to
sickness, personal injury or other disability), energy and skill to the performance of his duties with the Company. 
  

	3.	SALARY AND BONUS. 

 a. Base Salary. During the Term, as compensation for the
services to be rendered by Employee to the Company pursuant to this Agreement, the Company shall pay to Employee a base salary at the annual rate of $400,000 (the “Base Salary”). Any Base Salary payable hereunder shall be
paid in accordance with the Company’s regular payroll practices, as in effect from time to time. 
 b. Retention Bonuses.
If (x) Employee remains actively employed with the Company during the Retention Term, and (y) Employee does not become eligible for the payments provided in Section 8.a below because Employee remains employed with the Company beyond
the Retention Term, then the Company will pay Employee a retention bonus in the amount of $450,000, less applicable withholdings, paid in a single payment on the 61st day after the Termination
Date (as defined below). For purposes of this Agreement, periods on short term or long term disability leave in excess of 90 consecutive calendar days shall not constitute active employment. 

c. Bonus for Prior Employment. Employee will receive a payment for his participation in the Company FY15 Cash Incentive Program in
place immediately prior to the Closing Date (the “Prior Incentive Plan”), with calculation of the payment based on achievement of target performance and pro-rated based on the portion of the FY15 occurring prior to the Closing Date. The
payment shall be made at the same time as bonuses thereunder would have been payable with no requirement that Employee remained employed after the Closing. Except as provided in this Section 3.c, as of the Closing Date, Employee shall no longer
be eligible for the Prior Incentive Plan. 

  
 2 

 d. Bonus for Performance During the Term. During the Term, Employee shall be eligible for
a bonus based 60% on performance targets for Net Sales and Adjusted Operating Income and 40% on performance against key integration duties, as outlined in Section 2, with specific targets for the quantitative inputs determined by the Parent
within two months following the Closing Date. The target bonus payout will be 70% of the Base Salary. The bonus shall be payable within sixty-one (61) days after the end of the Retention Term and, except as set forth in Section 8.a,
payment shall be subject to Employee’s continued employment through the Retention Term. 
 e. Stock Options. Employee will not
be eligible to participate in any of the Parent or the Company stock plans during the term of this Agreement. 
  

	4.	EMPLOYEE BENEFITS. 

 a. Following the Effective Date, Employee shall initially be
entitled to participate in or receive benefits under the employee benefit plans of the Company in which Employee participated as of the date immediately preceding the Effective Date, with such benefits continuing during the Term until such time as
Employee may be transitioned to participate in the employee benefit plans and programs generally available to similarly-situated employees of the Parent, as determined by the Parent and to the extent that Employee meets the eligibility requirements
for each individual plan or program. Neither the Parent nor the Company guarantee the continuation of any employee benefit plan that Employee participates in or has the option to participate in during the Term. Furthermore, the Parent or the Company
may, in its sole discretion, terminate or modify any employee benefit plan at any time. Except as provided in Sections 8.a and 8.b, notwithstanding anything herein or the terms of any severance plan, policy or program of the Parent or the Company,
Employee shall not participate in any severance plan, policy or program of the Parent or the Company. 
 b. For purposes of determining
Employee’s eligibility to participate, vesting and entitlement to benefits where length of service is relevant (including for purposes of vacation accrual) under any employee benefit plan of Parent or its affiliates (other than a defined
benefit plan), Parent shall use commercially reasonable efforts to provide Employee with service credit under each such plan for his period of service with the Company and predecessors prior to the Effective Date, except where doing so would cause a
duplication of benefits. Parent and its affiliates shall also use commercially reasonable efforts to waive all limitations as to preexisting conditions exclusions (or actively at work or similar limitations), evidence of insurability requirements
and waiting periods with respect to participation and coverage requirements applicable to Employee under any medical, dental and vision plans of Parent or its affiliates that Employee may be eligible to participate in after the Effective Date. To
the extent permitted by law and the terms of the applicable Parent or affiliate employee plan, Parent shall also provide Employee and his eligible dependents with credit for any co-payments, deductibles and offsets (or similar payments) made under a
Company employee plan for the year in which the Effective Date occurs under the applicable Parent or affiliate medical, dental and vision plan for the purposes of satisfying any applicable deductible, out-of-pocket, or similar requirements under any
Parent or affiliate employee benefit plan in the year in which the Effective Date occurs. 

  
 3 

	5.	PAID TIME OFF. 

 Following the Effective Date, Employee shall initially be
eligible for paid time off (paid time off, vacation leave, sick leave, etc.) in accordance with the policies of the Company in place as of the date immediately preceding the Effective Date and continuing until such time as Employee may be
transitioned to participate in the paid time off programs generally available to similarly-situated employees of the Parent, which may be amended from time to time during the Term. Any vacation or paid time off accrued but unused by Employee as of
immediately prior to the Effective Date shall be credited to Employee following the Effective Date (“Carry Over Vacation”). Any vacation accruals under the Parent’s vacation policies shall take into account the balance
of any Carry Over Vacation and no Carry Over Vacation shall be subject to forfeiture.  
  

	6.	EXPENSE REIMBURSEMENT. 

 During the Term, the Company shall reimburse Employee for his
reasonable business expenses in accordance with the Company’s expense reimbursement policies, as they may be amended from time to time. In the event Employee’s employment should terminate for any reason as set forth in Section 7
below, the Company shall reimburse Employee for his reasonable business expenses incurred prior to such termination, in accordance with the terms of the Company’s expense reimbursement policy as in effect at the time, provided that Employee
submits a proper expense reimbursement request within thirty (30) days of the date of such termination. 
  

	7.	TERMINATION OF EMPLOYMENT. 

 a. Employee’s employment with the Company under the
terms of this Agreement will terminate upon: 
  

	 	(i)	Expiration of the Retention Term; 

  

	 	(ii)	The Company providing written notice to Employee of the termination of Employee’s employment, effective as of the date stated in such notice; 

 

	 	(iii)	The Parent’s receipt of Employee’s written resignation from the Company, effective as of the date indicated in such resignation, or at such earlier date as the Parent in its sole discretion shall determine;

  

	 	(iv)	Employee’s death. 

 b. The date upon which Employee’s termination of
employment with the Company is effective is the “Termination Date.” Except as expressly provided in Sections 8.a or 8.b., as applicable, upon the termination of Employee’s employment hereunder, Employee shall have no
further rights to any compensation or benefits from the Parent or the Company.  

  
 4 

	8.	PAYMENTS UPON TERMINATION. 

 a. Expiration of the Anticipated Term; Without Cause by
the Company; For Good Reason by Employee. If Employee’s employment is terminated (x) upon expiration of the Retention Term, by either the Company or Employee for any reason, or (y) prior to the expiration of the Retention Term,
either (A) by the Company without Cause or (B) by the Employee for Good Reason, then Employee shall be eligible to receive the following payments and benefits: 

(i) Employee shall be entitled to receive (x) his Base Salary earned through the Termination Date and payment for any earned but unused
vacation time; (y) payment of the bonus described in 3.d above (determined on a pro-rata basis and based on the greater of target or actual results for terminations prior to the expiration of the Retention Term) to be paid within 61 days of
Termination Date, and (z) any accrued and vested amounts due under any employee benefit plans maintained by the Company or Parent in which Employee participates; and 

(ii) subject to Employee’s execution and delivery to the Company of a written general release, substantially in the form attached as
“Exhibit A” hereto, and provided that the release has become effective and non-revocable, and further provided Employee’s continued compliance with the terms of such release and Section 9 hereof, the Company shall

  

	 	A.	pay Employee as severance pay an amount equal to two (2) years of his annual Base Salary in equal installments in accordance with the Company’s ordinary payroll practices during the twenty-four (24) month
period that begins on the Termination Date; and 

  

	 	B.	pay to Employee a retention bonus of $450,000, less applicable withholdings, paid in a single payment on the 61st day after the Termination Date; and

  

	 	C.	pay to Employee a lump sum payment of $280,000, less applicable withholdings, which amount is equal to Employee’s annual bonus potential, paid in a single payment on the 61st day after the Termination Date; and 

  

	 	D.	continue to provide Employee with all medical benefits provided to Employee immediately prior to such termination for so long as Employee continues to be eligible to participate in the applicable medical benefit plan
pursuant to which such benefits were provided. Further, Company or Parent will provide Employee with a lump sum payment equivalent to 18 months of COBRA payment with the intention that Employee be able to use such funds to continue medical benefits
under COBRA. Such payment will be made by the 61st day following the Termination Date. 

b. Other Termination. If Employee’s employment with the Company terminates prior to the expiration of the Retention Term by reason
of: 
  

	 	(i)	Employee’s abandonment of Employee’s employment or resignation for any reason other than Good Reason; 

  
 5 

	 	(ii)	termination of Employee’s employment by the Company for Cause; or 

  

	 	(iii)	Employee’s death. 

 then the Company will pay to Employee, or Employee’s beneficiary or
Employee’s estate, as the case may be, such base salary and paid time off that has been earned but not paid to Employee as of the Termination Date and any Annual Bonus for a period before close that has not been paid. Employee shall not be
entitled to receive any Annual Bonus or portion thereof for the post close period. 
 c. Definitions. 

(i) For purposes of this Agreement, “Cause” shall mean: (1) the failure of Employee to perform his material
employment-related duties (other than any such failure as a result of Employee’s sickness, personal injury, disability or death), which failure has not been cured by Employee within 30 business days of Employee’s receipt of written notice
of such failure from the Company, (2) Employee’s engaging in intentional misconduct that has caused or is reasonably expected to result in material injury to, or materially impair the goodwill of, the Company or any of its affiliates,
(3) Employee’s knowing and intentional violation of any material Company policy; (4) Employee’s indictment or conviction of, or entering a plea of guilty or nolo contendere to, a crime that constitutes a felony, or
(5) the breach by Employee of any of his material obligations under any material written agreement or covenant with the Company or any of its affiliates (including, but not limited to, this Agreement and any other written covenant or agreement
with the Company or any of its subsidiaries not to disclose any information pertaining to the Company or any of its subsidiaries or not to compete or interfere with the Company or any of its subsidiaries). 

(ii) For purposes of this Agreement, “Good Reason” shall mean either (1) a material reduction of Employee’s
Base Salary or Annual Bonus; or (2) the relocation of Employee’s primary worksite more than fifty (50) miles from the location of the Company’s headquarters as of the Effective Date without his prior consent. Notwithstanding the
foregoing, before Employee may resign for Good Reason, (A) Employee must provide the Company with written notice within thirty (30) days of the initial event that Employee believes constitutes “Good Reason” specifically
identifying the facts and circumstances claimed to constitute the grounds for Employee’s resignation for Good Reason and the proposed termination date (which will not be less than thirty (30) days after the giving of written notice
hereunder by Employee to the Company), and (B) the Company must have an opportunity of at least thirty (30) days following delivery of such notice to cure the Good Reason condition and the Company must have failed to cure such Good Reason
condition during that 30 day period. 
  

	9.	RESTRICTIVE COVENANTS. 

 Employee acknowledges that: (i) Employee has received
significant benefit as a result of the Merger; (ii) Employee has a major responsibility for the operation, development and growth 

  
 6 

 
of the Company business; (iii) Employee’s work for the Company has brought Employee and will continue to bring Employee into close contact with “Confidential Information” (as
defined below); and (iv) the agreements and covenants contained in this Section 9 are essential to protect the business interests of the Parent and the Company and that the Company will not enter into this Agreement but for such agreements
and covenants. Accordingly, Employee covenants and agrees to the following: 
 a. Confidential Information. Both during the term of
Employee’s employment under this Agreement and indefinitely after Employee is no longer employed by the Company, Employee shall not, directly or indirectly, (i) knowingly use for an improper personal benefit any “Confidential
Information” (as defined below) that was acquired by, learned by or disclosed to Employee by reason of Employee’s employment with the Company (before or after the date of this Agreement), or (ii) disclose any such Confidential
Information to any person, business or entity, except in the proper course of Employee’s duties as an employee of the Company. As used in this Agreement, “Confidential Information” means any and all confidential or
proprietary information of the Parent, the Company, and their affiliates that is not generally known to the public, including, without limitation, business, financial, marketing, technical, developmental, operating, performance, know-how, and
process information, drawings and designs, customer information, and other trade secret information, now existing or hereafter discovered or developed. Confidential Information shall include information in any form whatsoever, including, without
limitation, any digital or electronic record-bearing media containing or disclosing such information. The provisions of this Section 9.a shall not apply to information that has become generally available to the public other than as a result of
a disclosure by Employee. In the event that Employee is requested or required (by oral question or request for information or documents in any legal proceeding, interrogatory, subpoena, civil investigative demand, or similar process) to disclose any
Confidential Information, then Employee will notify the Parent within two (2) business days of Employee’s actual knowledge of the request or requirement so that the Parent or the Company may seek an appropriate protective order. If, in the
absence of a protective order or the receipt of a waiver hereunder, Employee is, on the advice of counsel, compelled to disclose any Confidential Information to any tribunal or else stand liable for contempt, Employee may disclose such Confidential
Information to the tribunal; provided, however, that Employee shall use Employee’s reasonable best efforts to obtain, at the expense and reasonable request of the Company, an order or other assurance that confidential treatment will be accorded
to such portion of the Confidential Information required to be disclosed as the Company shall designate. Employee acknowledges that all Confidential Information is the exclusive property of the Company. Employee acknowledges that Employee’s
entire work product, including working drafts and work sheets, shall be the sole property of the Company, and that Employee will have no rights, title or interest in any such material whether prepared by Employee alone, by others or by Employee in
conjunction with others. 
 b. Non-Competition. For a period beginning on the Effective Date and ending on the two-year anniversary
of the Effective Date, Employee shall not, without the prior written consent of the Parent, participate, directly or indirectly, as an individual proprietor, partner, stockholder, officer, employee, director, manager, joint venturer, investor,
lender, consultant or in any capacity whatsoever (within the United States of America, or in any country where the Company does business or has reasonable plans to do business as of the Effective Date) in a

  
 7 

 
business engaged in the manufacturing or sale of products in the same Nielsen product category (utilizing the most granular Nielsen product category such as macaroni and cheese as opposed to food
or snacks) as any Company product in existence as of the Closing Date, or any product that, as of the Closing Date, the Company has taken reasonable steps to develop (including, but not limited to, meeting with management teams or entering into
preliminary or definitive term sheets, letters of intent, purchase agreements, or other similar arrangements or agreements); provided, however, that such participation shall not include the mere ownership of not more than five percent (5%) of
the total outstanding stock of a publicly held company. 
 c. Customer Non-Solicitation. For a period beginning on the Effective Date
and ending on the two-year anniversary of the Effective Date, Employee shall not, directly or indirectly, in any manner or capacity, solicit, request, advise, or induce any customer, supplier, vendor or other business contact of the Company as of
the Effective Date to cancel, curtail, or otherwise change its relationship adversely to the Company, or interfere in any manner with the relationship between the Company and any of its customers, suppliers, vendors or other business contacts as of
the Effective Date. Any general advertisement shall not constitute a breach of this Section 9.c. 
 d. Employee
Non-Solicitation. For a period beginning on the Effective Date and ending on the two-year anniversary of the Effective Date, Employee shall not in any capacity, either separately or in association with others, solicit for employment or endeavor
in any way to entice away from employment with the Company any person that had been an employee of the Company within the six month period preceding the Effective Date. Any general advertisement or solicitation shall not constitute a breach of this
Section 9.d. 
 e. Nondisparagement. Employee agrees (whether during or after Employee’s employment with the Company) not
to issue, circulate, publish or utter any comments or statements to the press or other media, the Company’s or any of its affiliates’ employees, consultants or any individual or entity with whom the Company or any of its affiliates has a
business relationship which could reasonably be expected to adversely affect in any manner: (i) the conduct of the business of the Company or any of its affiliates (including, without limitation, any products or business plans or prospects); or
(ii) the business reputation of the Company, any of its affiliates, or any of their products, or their past or present officers, directors or employees. 

f. Return of Property. Upon termination of his employment with the Company and its affiliates or at any time as the Company requests,
Employee will promptly deliver to the Company all documents (whether prepared by the Company, an affiliate, Employee or a third party) relating to the Company, an affiliate or any of their businesses or property that Employee may possess or have
under Employee’s direction or control other than documents provided to Employee in Employee’s capacity as a participant in any employee or compensation benefit plan, policy or program of the Company or under which Employee is otherwise a
beneficiary of a benefit or legal right. 
 g. Remedies. Employee acknowledges that (i) Employee has had an opportunity to seek
the advice of counsel in connection with this Agreement; (ii) the restrictive covenants set forth in this Section 9 (the “Restrictive Covenants”) are reasonable in scope and in all other respects; (iii) any
violation of the Restrictive Covenants will result in irreparable injury to the 

  
 8 

 
Company; (iv) money damages may not be an adequate remedy for the Company in the event of a breach of any of the Restrictive Covenants by Employee; and (v) specific performance in the
form of injunctive relief would be an appropriate remedy for the Company. If Employee breaches or threatens to breach a Restrictive Covenant, the Company shall be entitled, in addition to all other remedies, to seek an injunction restraining any
such breach, without any bond or other security being required and without the necessity of showing actual damages. 
 h.
Severability. If any of the Restrictive Covenants, or any part thereof, are held to be invalid or unenforceable, the same shall not affect the remainder of the covenant or covenants, which shall be given full effect, without regard to the
invalid or unenforceable portions. Without limiting the generality of the foregoing, if any of the Restrictive Covenants, or any part thereof, are held to be unenforceable because of the duration of such provision or the area covered thereby, the
parties hereto agree that the court making such determination shall have the power to reduce the duration and/or area of such provision and, in its reduced form, such provision shall then be enforceable. 

 

	10.	ARBITRATION 

 a. The parties mutually agree that they will each consider in good faith
submitting to voluntary mediation all claims, disputes, controversies, or disagreements of any kind whatsoever arising out of this Agreement or otherwise in connection with Employee’s employment or the termination of Employee’s employment,
including any Claims that may arise between Employee and the Company’s officers, directors, executives, affiliates or agents and their capacity as such (“Claims”). 

b. The parties mutually agree that all Claims that are not resolved through mediation shall be submitted to final and binding arbitration
pursuant to the Federal Arbitration Act and the arbitration will be conducted before the American Arbitration Association (“AAA”) or the Judicial Arbitration and Mediation Services (“JAMS”), in accordance with the then-existing
rules of the AAA or JAMS. The selection between AAA and JAMS shall be made by the claimant first filing for arbitration. The parties mutually agree that any such arbitration shall be conducted in San Francisco, California, or such other location as
the parties mutually agree upon, and that such arbitration shall be the sole and exclusive forum and venue for resolving any claims, disputes or controversies between the parties. The initiating party of any disagreement, dispute or claim must
deliver a written request for arbitration to the responding party within the applicable statute of limitations of the date when the disagreement, dispute or claim first arose. Any failure to timely request arbitration shall constitute a waiver of
all rights to raise any claim in any forum. The arbitrator must issue a written award setting forth the essential findings and conclusions on which the award is based. Either party may request necessary discovery pursuant to the applicable rules of
the arbitration or as determined by the arbitrator. 
 c. Claims covered by this arbitration provision include, but are not limited to the
following: (1) alleged violations of federal, state, or local constitutions, statutes, regulations, or ordinances, including, but not limited to, anti-discrimination and harassment laws, wage and hour laws, and employment laws;
(2) allegations of a breach of a contractual obligation including, without limitation, breach of the Restrictive Covenants; (3) alleged violations of public policy; and (4) any tort, defamation, fraud or emotional distress claims.

  
 9 

 d. The following are expressly excluded from this arbitration provision and are not covered by
this Agreement: (1) claims related to Workers Compensation or unemployment insurance; (2) claims by the Company seeking from a court any interim or provisional relief (including but not limited to temporary or permanent injunctive relief)
to protect or enforce rights and obligations created by Section 9 of this Agreement; (3) administrative claims filed with government agencies such as the Equal Employment Opportunity Commission (EEOC), the Department of Fair Employment and
Housing (DFEH), or the National Labor Relations Board (NLRB); and, (4) claims that are expressly excluded from arbitration by statute. 

e. In consideration for the Employee’s employment hereunder, the parties hereto mutually agree that final and binding arbitration is the
exclusive means for resolving the claims outlined in this Agreement. This Agreement is a waiver of all rights the parties hereto may have to a civil court action on any dispute outlined by this Agreement. Accordingly, only an arbitrator, not a judge
or jury, will decide the dispute, although the arbitrator has the authority to award any type of relief that could otherwise be awarded by a judge or jury, including injunctive relief; provided, however, that either party shall have the right to
seek interim injunctive relief from a court of competent jurisdiction to the extent permitted by any applicable statute governing arbitrations. The award of the Arbitrator shall be binding on the parties to the fullest extent permitted, subject to
any limited statutory right to appeal as provided by law. Judgment upon the award of the Arbitrator may be entered in any court having proper jurisdiction and enforced as provided by law. 

f. Each party shall initially bear its own costs and attorney’s fees. The Company shall pay the arbitrator’s fees and related
administrative expenses in any such matter submitted to arbitration. The arbitrator may award reasonable attorney’s fees, together with any costs and expenses, incurred in connection with arbitration as determined by the arbitrator. 

 

	11.	CODE SECTION 409A 

 a. Notwithstanding anything to the contrary in this Agreement, no
severance pay or benefits to be paid or provided to Employee, if any, pursuant to this Agreement that, when considered together with any other severance payments or separation benefits, are considered deferred compensation under Section 409A
(together, the “Deferred Payments”) will be paid or otherwise provided until Employee has a “separation from service” within the meaning of Section 409A. Similarly, no severance payable to Employee, if any, pursuant to this
Agreement that otherwise would be exempt from Section 409A pursuant to Treasury Regulation Section 1.409A-1(b)(9) will be payable until Employee has a “separation from service” within the meaning of Section 409A. 

b. Any severance payments or benefits under this Agreement that would be considered Deferred Payments will be paid on, or, in the case of
installments, will not commence until, the sixty first (61st) day following Employee’s separation from service, or, if later, such time as required by Section 11(c). Except as required by Section 11(c), any installment payments
that would have been made to Employee during the sixty (60) day period immediately following Employee’s separation from service, but for the preceding sentence, will be paid to Employee on the sixty first (61st) day following
Employee’s separation from service and the remaining payments shall be made as provided in this Agreement. 

  
 10 

 c. Notwithstanding anything to the contrary in this Agreement, if Employee is a “specified
employee” within the meaning of Section 409A at the time of Employee’s termination (other than due to death), then the Deferred Payments, if any, that are payable within the first six months following Employee’s separation from
service, will become payable on the first payroll date that occurs on or after the date six months and one day following the date of Employee’s separation from service. All subsequent Deferred Payments, if any, will be payable in accordance
with the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, if Employee dies following Employee’s separation from service, but prior to the six month anniversary of the separation from
service, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively practicable, but no later than (60) days after the date of Employee’s death and all other Deferred Payments will
be payable in accordance with the payment schedule applicable to each payment or benefit. Each payment, installment and benefit payable under this Agreement is intended to constitute a separate payment for purposes of Section 1.409A-2(b)(2) of
the Treasury Regulations. 
 d. The foregoing provisions are intended to be exempt from or comply with the requirements of Section 409A
so that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to be exempt or so comply. The
Company and Employee agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition
prior to actual payment to Employee under Section 409A. 
 e. Employee agrees and understands that he is not relying upon the Company
or its counsel for any tax advice regarding the tax treatment of the payments made or benefits received pursuant to this Agreement and, except for any tax withholding obligation of the Company with respect to such payments, Employee agrees that he
is responsible for determining the tax consequences of all such payments and benefits hereunder, including but not limited to those which may arise under Section 409A of the Code, and for paying taxes, if any, that he may owe with respect to
such payments or benefits. Notwithstanding the foregoing, the Company agrees that it shall operate this Agreement in accordance with its terms and in a manner intended to comply with Section 409A of the Code or an exemption therefrom. 

f. Notwithstanding the foregoing, this Section 11 will not apply to (i) all payments on separation from service that satisfy the
short-term deferral rule of Treas. Reg. §1.409A-1(b)(4), (ii) the portion of the payments on separation from service that satisfy the requirements for separation pay due to an involuntary separation from service under Treas. Reg.
§1.409A-1(b)(9)(iii), and (iii) any payments that are otherwise exempt from the six month delay requirement of the Treasury Regulations under Section 409A. Notwithstanding anything to the contrary herein, except to the extent any
expense, reimbursement or in-kind benefit provided pursuant to this Agreement does not constitute a “deferral of compensation” within the meaning of Section 409A of the Code: (x) the amount of expenses eligible for reimbursement
or in-kind benefits provided to Employee during any calendar year will not affect the amount of expenses 

  
 11 

 
eligible for reimbursement or in-kind benefits provided to Employee in any other calendar year, (y) the reimbursements for expenses for which Employee is entitled to be reimbursed will be
made on or before the last day of the calendar year following the calendar year in which the applicable expense is incurred, and (z) the right to payment or reimbursement or in-kind benefits hereunder may not be liquidated or exchanged for any
other benefit. 
  

	12.	ADJUSTMENT OF PAYMENTS FOLLOWING A CHANGE IN CONTROL. 

 a. Notwithstanding any other
provision of this Agreement to the contrary, in the event that any economic benefit, payment or distribution by the Company to or for the benefit of Employee, whether paid, payable, distributed or distributable pursuant to the terms of this
Agreement or otherwise (a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code (such excise tax, together with any interest or penalties related to such excise tax, referred to in this Agreement as the
“Excise Tax”), then the value of any such Payments which constitute “parachute payments” within the meaning of Section 280G of the Code, as determined by the Accounting Firm (as defined below), will be reduced by such amount
(the “Payment Reduction”) so that the present value of all Payments (calculated in accordance with Section 280G of the Code and the regulations thereunder), in the aggregate, equals 2.99 times Employee’s “base amount”
(within the meaning of Section 280G(b)(3) of the Code); provided, however, that the preceding sentence will not be applicable and Employee’s Payments will not be reduced under this provision if the Accounting Firm determines that, on an
after-tax basis, Employee would retain a greater amount of compensation following payment of the Excise Tax on the unreduced amount of any Payments than the amount of compensation retained following reduction of the Payments as required under the
preceding sentence. Any reduction made pursuant to this Section 12 shall be made in accordance with the following order of priority: (i) stock options whose exercise price exceeds the fair market value of the optioned stock
(“Underwater Options”) (ii) Full Credit Payments (as defined below) that are payable in cash, (iii) non-cash Full Credit Payments that are taxable, (iv) non-cash Full Credit Payments that are not taxable (v) Partial
Credit Payments (as defined below) and (vi) non-cash employee welfare benefits. In each case, reductions shall be made in reverse chronological order such that the payment or benefit owed on the latest date following the occurrence of the event
triggering the excise tax will be the first payment or benefit to be reduced (with reductions made pro-rata in the event payments or benefits are owed at the same time). “Full Credit Payment” means a payment, distribution or benefit,
whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, that if reduced in value by one dollar reduces the amount of the parachute payment (as defined in Section 280G of the Code) by one
dollar, determined as if such payment, distribution or benefit had been paid or distributed on the date of the event triggering the excise tax. “Partial Credit Payment” means any payment, distribution or benefit that is not a Full Credit
Payment. In no event shall the Employee have any discretion with respect to the ordering of payment reductions. 
 b. All determinations
required to be made under this Section 12, including whether and when a Payment is subject to Section 4999 and the assumptions to be utilized in arriving at such determination and in determining an appropriate Payment Reduction, will be
made by the Company’s outside auditing firm at the time of such determination (the “Accounting Firm”), which Accounting Firm will provide detailed supporting calculations to Employee and the Company within fifteen (15) business
days of the receipt of notice from the Company or 

  
 12 

 
Employee that there will be a Payment that the party giving notice believes may be subject to the Excise Tax. All fees and expenses of the Accounting Firm will be borne by the Company. Any
determination by the Accounting Firm will be binding upon the Company and Employee in determining whether a Payment Reduction is required and the amount thereof, in the absence of material mathematical or legal error. 

c. If, as a result of any uncertainty in the application of Section 4999 at the time of the initial determination by the Accounting Firm
under Section 12.a, the Accounting Firm subsequently determines that (i) the Payments should have been reduced or reduced by a larger amount (an “Overpayment”), any such Overpayment, to the extent actually paid or provided to
Employee, shall be repaid by Employee to the Company in full within thirty (30) days after Employee receives notice of the Accounting Firm’s determination; provided, however, that the amount of the Overpayment to be repaid by
Employee to the Company shall be reduced to the extent that the Accounting Firm determines that any portion of the Overpayment to be repaid will not be offset by a corresponding reduction in the amount of Employee’s “excess parachute
payments” for purposes of Section 280G by reason of such repayment, or (ii) the Payments should not have been reduced or should have been reduced by a smaller amount (an “Underpayment”), any such Underpayment shall be deemed
vested and payable by the Company to Employee within thirty (30) days after the Company receives notice of the Accounting Firm’s determination, or such later date that such payment becomes vested and due under its terms. 

 

	13.	MISCELLANEOUS. 

 a. Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of Delaware applicable to agreements made and to be wholly performed within that State, without regard to the conflict of laws provisions of any jurisdiction which would cause the application of any
law other than that of the State of Delaware. 
 b. Jurisdiction and Venue. For purposes of claims brought by the Company seeking
from a court any interim or provisional relief (including but not limited to temporary or permanent injunctive relief) to protect or enforce rights and obligations created by Section 9 of this Agreement, Employee and the Company consent to the
jurisdiction of the Delaware Court of Chancery and agree that such court shall be the exclusive forum for the resolution of such claims seeking interim or provisional relief, and Employee and the Company waive all personal jurisdiction, venue, and
forum non conveniens arguments relating to such claims in that court. In the event that the Delaware Court of Chancery lacks subject matter jurisdiction over such a claim, then Employee and the Company agree to submit to the jurisdiction of any
other state or federal court within the State of Delaware and agree that such courts shall be the exclusive forum for the resolution of such claim for which the Delaware Court of Chancery lacks subject matter jurisdiction, and Employee and the
Company waive all personal jurisdiction, venue, and forum non conveniens arguments relating to such claims in those courts. 
 c.
Successors. This Agreement shall be binding on, and inure to the benefit of, the Company and its successors and assigns and any person acquiring, whether by merger, consolidation, or otherwise without further action by Employee. 

  
 13 

 d. Waiver of Breach. The waiver by either the Company or Employee of a breach of any
provision of this Agreement shall not operate as, or be deemed a waiver of, any subsequent breach by either the Company or Employee. 
 e.
Notices. Any notice to be given hereunder by a party hereto shall be in writing and shall be deemed to have been given when received or, when deposited in the U.S. mail, certified or registered mail, postage prepaid: 

to Employee addressed as follows: 

John Foraker 
 854 A Street 

Davis, CA 95616 
 to the
Parent/Company addressed as follows: 
 c/o General Mills, Inc. 

1 General Mills Blvd, M04-F2 

Minneapolis, MN 55426-1347 

			
	Attention:	 	Elizabeth M. Nordlie,
		 	VP, President, Small Planet Foods

 Facsimile: 763-293-1772 

with a copy (which shall not constitute notice) to: 

Faegre Baker Daniels LLP 
 2200
Wells Fargo Center 
 90 South Seventh Street 

Minneapolis, Minnesota 55402 

Attention: Michael A. Stanchfield 

Facsimile: (612) 766-1600 

f. Entire Agreement; Modification. This Agreement constitutes the entire agreement and supersedes and replaces all prior agreements and
understandings, both written and oral, among the parties or any of them, with respect to the subject matter of this Agreement, including without limitation the Prior Agreement; it being understood, for the avoidance of doubt, that this Agreement
does not affect Employee’s rights under any stock option or other equity agreement entered into prior to the Closing. This Agreement may not be amended except by mutual agreement of the parties in writing. 

g. Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the other provisions hereof,
and this Agreement shall be construed in all respects by interpreting that invalid or unenforceable provision as nearly to the original meaning as possible so as to make it valid and enforceable or, if that is not possible or permitted

  
 14 

 
by applicable law, by omitting that invalid or unenforceable provision. To the extent any provision of this Agreement is determined by a court, arbitrator or regulatory body to be invalid or
unenforceable, the parties shall use their good faith efforts to address the implications of that invalidity or unenforceability to preserve the essential understanding of the parties with respect to such provision. 

h. Withholding Taxes. The Company may withhold from any amounts payable under this Agreement such Federal, state and local taxes as may
be required to be withheld pursuant to any applicable law or regulation. 
 i. Survival. The provisions of this Agreement that by
their terms or implication extend beyond the Term, including without limitation Section 9 of this Agreement, shall survive the termination or expiration of the Term and termination of Employee’s employment with the Company for any reason.

 j. Counterparts; Electronic Signatures. This Agreement may be signed in counterparts, each of which shall be an original, with the
same effect as if the signatures thereto and hereto were upon the same instrument. The parties agree that the signatures of the person executing this Agreement may be transmitted via facsimile or other electronic means and shall be sufficient
evidence of the execution of the Agreement. 
 [Signature Page Follows]  

  
 15 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of the
date first written above. 
  

							
	GENERAL MILLS, INC.	 		 	JOHN M. FORAKER
				
	By:	 	 /s/ Kendall J. Powell
	 		 	 /s/ John M. Foraker

				
	Title:	 	 Chief Executive Officer
	 		 	
			
	ANNIE’S, INC.	 		 	
				
	By:	 	 /s/ Steven L. Richie
	 		 	
				
	Title:	 	 Vice President, Legal and Corporate Secretary
	 		 	

  
 16 

 EXHIBIT A 

FORM OF GENERAL RELEASE 

General Release 

NOTICE: This is a very important document, and you should thoroughly review and understand the terms and effect of this document before signing
it. By signing this General Release you will be releasing the Company from all liability to you. Therefore, you should consult with an attorney before signing the General Release. You have twenty-one (21) days from the date of the distribution
of these materials to consider this document. If you have not returned a signed copy of the General Release by that time, the Company will assume that you have elected not to sign the General Release. If you choose to sign the General Release, you
will have an additional seven (7) days following the date of your signature to revoke the agreement, and the agreement shall not become effective or enforceable until the revocation period has expired. Any revocation must be in writing and must
be received by the Company within the seven (7) day revocation period. 
 A. In consideration of the benefits to which John Foraker
(the “Employee”) would not otherwise be entitled, offered to Employee by the Company under the Retention Agreement dated as of September 8, 2014 (the “Retention Agreement”), Employee, on behalf of
himself and his heirs, executors and assigns, hereby releases and discharges General Mills, Inc. and its shareholders, affiliates, subsidiaries (including Annie’s, Inc.), successors, and predecessors, and all of their employees, agents,
attorneys, officers and directors (for purposes of this General Release, hereinafter collectively referred to as the “Company”) from any and all claims and/or causes of action, known or unknown, which Employee may have or
could claim to have against the Company up to and including the date of Employee signing this General Release. This General Release includes, but is not limited to, all claims arising from or during Employee’s employment or as a result of the
termination of Employee’s employment (except (i) your rights under the Retention Agreement, (ii) claims for workers’ compensation, (iii) claims arising after the date on which you sign this General Release; (iv) claims
for vested or accrued benefits under an employee benefit plan; (v) your right to file a charge with the Equal Employment Opportunity Commission (“EEOC”) or to participate in an EEOC investigation (provided that the right
to recover money or other individual relief in connection with any EEOC charge or investigation is waived), (vi) your right to indemnification by the Company whether under an insurance policy, bylaws or otherwise), whether based on contract,
tort, public policy, wrongful termination, emotional distress, fraud, or any other common law claims, any and all claims for wages, salary, compensation, payments, penalties or benefits under any federal, state or local wage law statute, regulation
or ordinance, and all claims arising under federal, state or local laws prohibiting employment discrimination based upon age, race, sex, religion, disability, national origin or any other protected characteristic, including, but not limited to, any
and all claims arising under the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, any applicable state laws, regulations or ordinances relating to employment, and/or any claims
growing out of any legal restrictions, expressed or implied, on the Company’s right to control or terminate the employment of its employees. This General Release does not include or affect Employee’s ability to apply for unemployment
compensation benefits. 

  
 17 

 B. Employee represents and warrants that he has not filed any claims, charges or complaints
against the Company with any state or federal court or with any administrative agency or arbitration tribunal as of the date of this General Release. Employee further agrees and covenants to the fullest extent permitted by law to give up all rights
to recover individual damages or personal relief in connection with any administrative or court proceeding relating to Employee’s employment with or termination of employment from the Company, whether filed individually, with others, or as part
of a class. Employee further agrees that if he is awarded money damages in connection with any such proceeding, Employee agrees to assign to the Company all of his rights and interest in and to such money damages. 

C. Employee further understands and agrees that Employee hereby expressly waives and relinquishes any and all claims, rights or benefits that
he may have under California Civil Code section 1542, which provides as follows: 
 “A general release does not extend to claims
which the creditor does not know or suspect to exist in his or her favor at the time of executing the release which if known by him or her must have materially affected his or her settlement with the debtor.” 

In connection with such waiver and relinquishment, Employee acknowledges that he may hereafter discover claims or facts in addition to or different from those
which he now knows or believes to exist with respect to the matters released herein, but that Employee expressly agrees to fully, finally and forever settle and release any and all claims, known or unknown, suspected or unsuspected, which exist or
may exist on his behalf against the Released Parties at the time of execution of this Agreement, including, but not limited to, any and all claims relating to or arising from Employee’s employment with Company or the cessation of the employment
relationship. 
 By signing below, Employee agrees to be legally bound by the terms of this General Release and acknowledges that he has carefully read and
completely understands the terms of this General Release and is signing it knowingly, voluntarily and without duress, coercion, or undue influence. 
 IN
WITNESS WHEREOF, Employee has executed this Agreement as of the      day of             ,             .

  

	
	  

	John Foraker

  
 18

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