Document:

SCYTHIAN
BIOSCIENCES CORP.

2011
STOCK OPTION PLAN

 

	1.	PURPOSE

 

The
purpose of this stock option plan (the “Plan”) is to authorize the grant to service providers for Scythian Biosciences
Corp. (the “Corporation”) of options (“Options”) to purchase common shares (“Shares”) in the
capital of the Corporation and thus benefit the Corporation by enabling it to attract, retain and motivate service providers by
providing them with the opportunity, through share options, to acquire an increased proprietary interest in the Corporation.

 

	2.	ADMINISTRATION

 

	1.	The
    Plan will be administered by the board of directors of the Corporation (the “Board”) or a committee (“Committee”)
    of the Board duly appointed for this purpose by the Board and consisting of not less than 3 directors. If a Committee is appointed
    for this purpose, all references to the term “Board” herein will be deemed to be references to the Committee.
    Subject to approval of the granting of Options by the Board, the Corporation shall grant Options under the Plan.
	 	 
	2.	Subject
    to the limitations of this Plan, the Board has the authority: (i) to grant Options to purchase Shares to Eligible Persons
    (as defined below); (ii) to determine the terms, including the limitations, restrictions and conditions, if any, upon such
    grants; (iii) make such amendments, additions or deletions to the Plan as may be required to bring the Plan into compliance
    with any and all requirements of any applicable regulatory authority; (iv) to interpret this Plan and to adopt, amend and
    rescind such administrative guidelines and other rules and Regulations relating to this Plan as it may from time to time deem
    advisable, subject to required prior approval by any applicable regulatory authority; and (v) to make all other determinations
    and to take all other actions in connection with the implementation and administration of this Plan as it may deem necessary
    or advisable. The Board’s guidelines, rules, regulations, interpretations and determinations will be conclusive and
    binding upon all parties.

 

	3.	SHARES SUBJECT TO PLAN

 

Subject
to adjustment under the provisions of paragraph 12 hereof, the aggregate number of shares of the Corporation which may be issued
and sold under the Plan will not exceed 10% of the issued and outstanding shares at the time of grant. The total number of Shares
which may be reserved for issuance to any one individual under the Plan during any one year period shall not exceed 5% of the
Shares issued and outstanding at the time of grant. The Corporation shall not, upon the exercise of any Option, be required to
issue or deliver any Shares prior to (a) the acceptance of such Shares for listing on any stock exchange on which the Shares may
then be listed, and (b) the completion of such registration or other qualification of such Shares under any law, rules or regulation
as the Corporation shall determine to be necessary or advisable. If any Shares cannot be issued to any optionee for whatever reason,
the obligation of the Corporation to issue such Shares shall terminate and any Option exercise price paid to the Corporation shall
be returned to the optionee.

 

	4.	LIMITS WITH RESPECT TO INSIDERS

 

	 	1.	The
    maximum number of Shares which may be reserved for issuance to insiders under the Plan, any other employer stock option plans
    or options for services, shall be 10% of the Shares issued and outstanding at the time of the grant (on a non-diluted basis).
	 	 	 
	 	2.	The
    maximum number of Shares which may be issued to insiders under the Plan, together with any other previously established or
    proposed share compensation arrangements, within any one year period shall be 10% of the outstanding issue. The maximum number
    of Shares which may be issued to any one insider and his or her associates under the Plan, together with any other previously
    established or proposed share compensation arrangements, within a one year period shall be 5% of the Shares outstanding at
    the time of the grant (on a non-diluted basis).

 

    	 

    	2 

    

 

	5.	ELIGIBILITY

 

Options
shall be granted only to service providers for the Corporation. The term “service providers for the Corporation” means
(a) any full or part-time employee (“Employee”) or officer, or insider of the Corporation or any of its subsidiaries;
(b) any other person employed by a company or individual providing management services to the Corporation (“Management Company
Employee”); (c) any other person or company engaged to provide ongoing consulting services for the Corporation or any entity
controlled by the Corporation (“Consultant”) or (d) any individual engaged to provide services that promote the purchase
or sale of the issued securities (“Investor Relations Employee”) (any person in (a) (b), (c) or (d) hereinafter referred
to as an “Eligible Person”); and (e) any registered retirement savings plan established by such Eligible Person, or
any corporation controlled by such Eligible Person, the issued and outstanding voting shares of which are, and will continue to
be, beneficially owned, directly or indirectly, by such Eligible Person and/or the spouse, children and/or grandchildren of such
Eligible Person. For stock options to Employees, Consultants or Management Company Employees, the Corporation must represent that
the optionee is a bonafide Employee, Consultant or Management Company Employee as the case may be. The terms “insider”
“controlled” and “subsidiary” shall have the meanings ascribed thereto in the Securities Act (Ontario)
from time to time. Subject to the foregoing, the board of directors or Committee, as applicable, shall have full and final authority
to determine the persons who are to be granted options under the Plan and the number of shares subject to each option.

 

	6.	LIMIT’S WITH RESPECT
TO CONSULTANTS AND INVESTOR RELATIONS EMPLOYEES

 

	 	1.	The
    maximum number of Shares which may be reserved for issuance to any one person employed as a Consultant under the Plan or any
    other Share Compensation Arrangement in any 12 month period shall not exceed 2% of the Shares outstanding at the date of the
    grant (on a non-diluted basis)
	 	 	 
	 	2.	The
    maximum number of Shares which may be reserved for issuance to persons employed in Investor Relations Activities under the
    Plan or under any other Share Compensation Arrangement in any 12 month period shall not exceed 2% of the Shares outstanding
    at the date of the grant (on a non-diluted basis).

 

	7.	PRICE

 

The
purchase price (the “Price”) for the Shares under each Option shall be determined by the Board, on the basis of the
market price, where “market price” shall mean the prior trading day closing price of the Shares on any stock exchange
on which the shares are listed or last trading price on the prior trading day on any dealing network where the Shares trade, and
where there is no such closing price or trade on the prior trading day “market price” shall mean the average of the
most recent bid and ask of the Shares on any stock exchange on which the Shares are listed or quotation system on which the Shares
trade. In the event the Shares are listed on the TSX Venture Exchange, the price may be the market price less any discounts from
the market price allowed by the TSX Venture Exchange, subject to a minimum price of $0.10.

 

In
the event that the Shares are not listed and posted for trading on any exchange, the market price is the fair market value of
such shares as determined by the Board of Directors in its sole discretion.

 

    	 

    	3 

    

 

	8.	PERIOD OF OPTION AND RIGHTS
TO EXERCISE

 

Subject
to the provisions of this paragraph 8 and paragraphs 9, 10 and 17 below, Options will be exercisable in whole or in part, and
from time to time, during the currency thereof. Options shall not be granted for a term exceeding ten years. The Shares to be
purchased upon each exercise of any Option (the “optioned shares”) shall be paid for in full at the time of such exercise.
Except as provided in paragraphs 9, 10 and 17 below, no option which is held by a service provider may be exercised unless the
optionee is then a service provider for the Corporation.

 

In
addition, any Options granted pursuant to the Plan will expire within a reasonable amount of time (to be determined by the board
of directors) following the date that an optionee ceases to be an officer, director, employee or consultant of the Corporation.

 

	9.	CESSATION OF PROVISION OF SERVICES

 

Subject
to paragraph 10 below, if any optionee who is a service provider shall cease to be a service provider for the Corporation for
any reason (whether or not for cause) the optionee may, but only within the period of ninety days, or thirty days if the service
provider is an Investor Relations Employee, next succeeding such cessation and in no event after the expiry date of the optionee’s
option, exercise the optionee’s option unless such period is extended as provided in paragraph 10 below.

 

	10.	DEATH OF OPTIONEE

 

In
the event of the death of an optionee during the currency of the optionee’s option, the option theretofore granted to the
optionee shall be exercisable within, but only within, the period of one year next succeeding the optionee’s death. Before
expiry of an option under this paragraph 10, the Board, shall notify the optionee’s representative in writing of such expiry.

 

	11.	NON-ASSIGNABILITY AND NON-TRANSFERABILITY OF OPTION

 

An
option granted under the Plan shall be non-assignable and non-transferrable by an optionee otherwise than by will or by laws of
descent and distribution, and such option shall be exercisable, during an optionee’s lifetime, only by the optionee.

 

	12.	ADJUSTMENTS IN SHARES SUBJECT TO PLAN

 

The
aggregate number and kind of shares available under the Plan shall be appropriately adjusted in the event of a reorganization,
recapitalization, stock split, stock dividend, combination of shares, merger, consolidation, rights offering or any other change
in the corporate structure or shares of the Corporation. The options granted under the Plan may contain such provisions as the
board of directors, or Committee, as applicable, may determine with respect to adjustments to be made in the number and kind of
shares covered by such options and in the option price in the event of any such change. If there is a reduction in the exercise
price of the options of an insider of the Corporation, the Corporation will be required to obtain approval from disinterested
shareholders.

 

	13.	AMENDMENT AND TERMINATION OF THE PLAN

 

The
board of directors or Committee, as applicable, may at any time amend or terminate the Plan, but where amended, such amendment
is subject to regulatory approval.

 

    	 

    	4 

    

 

	14.	EFFECTIVE DATE OF THE PLAN

 

The
Plan becomes effective on the date of its approval by the shareholders of the Corporation.

 

	15.	EVIDENCE OF OPTIONS

 

Each
option granted under the Plan shall be embodied in a written option agreement between the Corporation and the optionee which shall
give effect to the provisions of the Plan.

 

	16.	EXERCISE OF OPTION

 

Subject
to the provisions of the Plan and the particular option, an option may be exercised from time to time by delivering to the Corporation
at its registered office a written notice of exercise specifying the number of Shares with respect to which the option is being
exercised and accompanied by payment in cash or certified cheque for the full amount of the purchase price of the shares then
being purchased.

 

Upon
receipt of a certificate of an authorized officer directing the issue of shares purchased under the Plan, the transfer agent is
authorized and directed to issue and countersign share certificates for the optioned shares in the name of such optionee or the
optionee’s legal personal representative or as may be directed in writing by the optionee’s legal personal representative.

 

	17.	VESTING RESTRICTIONS

 

Options
issued under the Plan may vest at the discretion of the Board, provided that (a) the number of Shares which may be acquired pursuant
to the Plan shall not exceed a specified number or percentage during the term of the optionee; and (b) options issued to Investor
Relations Employees must vest in stages over not less than 12 months with no more than one-quarter (1) of the options
vesting in any three month period.

 

	18.	NOTICE OF SALE OF ALL OR SUBSTANTIALLY ALL SHARES OR
ASSETS

 

If
at any time when an Option granted under this Plan remains unexercised with respect to any optioned shares:

 

	 	1.	the
    Corporation seeks approval from its shareholders for a transaction which, if completed, would constitute an Acceleration Event
    (as defined below); or
	 	 	 
	 	2.	a
    third party makes a bona fide formal offer or proposal to the Corporation or its shareholders which, if accepted, would constitute
    an Acceleration Event;

 

the
Corporation shall notify the optionee in writing of such transaction, offer or proposal as soon as practicable and, provided that
the Board has determined that no adjustment shall be made pursuant to section 12 hereof, (i) the Board may permit the optionee
to exercise the Option, as to all or any of the optioned shares in respect of which such option has not previously been exercised
(regardless of any vesting restrictions), during the period specified in the notice (but in no event later than the expiry date
of the option), so that the optionee may participate in such transaction, offer or proposal; and (ii) the Board may require the
acceleration of the time for the exercise of the said option and of the time for the fulfillment of any conditions or restrictions
on such exercise.

 

    	 

    	5 

    

 

For
these purposes, an Acceleration Event means:

 

	 	(a)	the
    acquisition by any “offeror” (as defined in Part XX of the Securities Act (Ontario) of beneficial ownership
    or more than 50% of the outstanding voting securities of the Corporation, by means of a takeover bid or otherwise;
	 	 	 
	 	(b)	any
    consolidation or merger of the Corporation in which the Corporation is not the continuing or surviving corporation or pursuant
    to which shares of the Corporation would be converted into cash, securities or other property, other than a merger of the
    Corporation in which shareholders immediately prior to the merger have the same proportionate ownership of stock of the surviving
    corporation immediately after the merger;
	 	 	 
	 	(c)	any
    sale, lease exchange or other transfer (in one transaction or series of related transactions) of all or substantially all
    of the assets of the Corporation; or
	 	 	 
	 	(d)	the
    approval by the shareholders of the Corporation of any plan of liquidation or dissolution of the Corporation.

 

	19.	RIGHTS PRIOR TO EXERCISE

 

An
optionee shall have no rights whatsoever as a shareholder in respect of any of the optioned shares (including any right to receive
dividends or other distributions therefrom or thereon) other than in respect of optioned shares in respect of which the optionee
shall have exercised the option to purchase hereunder and which the optionee shall have actually taken up and paid for.

 

	20.	GOVERNING LAW

 

This
Plan shall be construed in accordance with and be governed by the laws of the Province of Ontario and shall be deemed to have
been made in said Province, and shall be in accordance with all applicable securities laws.

 

	21.	EXPIRY OF OPTION

 

On
the expiry date of any option granted under the Plan, and subject to any extension of such expiry date permitted in accordance
with the Plan, such option hereby granted shall forthwith expire and terminate and be of no further force or effect whatsoever
as to such of the optioned shares in respect of which the option has not been exercised.

 

	22.	APPROVAL

 

The
Plan has been approved by the shareholders of the Corporation on February 25, 2005 and supercedes and replaces all prior plans.EX-10.1

 Exhibit 10.1 

SEVERANCE AGREEMENT AND GENERAL RELEASE 

This Severance Agreement and General Release (hereinafter the “Agreement”) is made and entered into by and between Rodrigo F. Troni
Pena (hereinafter the “Executive”) and Snyder’s-Lance, Inc., a North Carolina corporation (hereinafter “Company”). 

RECITALS 
 A. Executive is
employed full time as the Senior Vice President, Chief Marketing Officer of Company. 
 B. Executive’s employment may be terminated by
Company or by Executive at any time. 
 C. Executive and Company entered into that certain Executive Severance Agreement, dated
December 10, 2014 (the “ESA”), which agreement governs severance and other benefits in the event of Executive’s termination of employment. Capitalized terms not otherwise defined herein shall have the meaning set forth in the
ESA. 
 D. Company has eliminated Executive’s position of Chief Marketing Officer. 

E. Executive and Company desire to provide for the termination of Executive’s employment with Company in an amicable and orderly way and
to settle any and all disputes, known and unknown, in accordance with the terms and conditions set forth in this Agreement. 
 NOW,
THEREFORE, for and in consideration of the foregoing, the mutual promises and covenants set forth herein, and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, Executive and Company,
intending to be legally bound, agree as follows: 
 1. Executive’s employment by Company will terminate (or has terminated) effective
August 2, 2017 (the “Termination Date”). 
 2. Company will pay (or has paid) to Executive his unpaid Base Salary, accrued and
unused vacation pay, unreimbursed business expenses, and all other items earned by or owed to executive through the Termination Date. These amounts are payable even if Executive does not sign, deliver and not revoke this Agreement as required for
this Agreement to become effective. 
 3. As consideration for the promises made by Executive in this Agreement, Company agrees to provide
Executive the benefits and payments provided for in Section 3 of the ESA as described in Appendix A hereto (the “Severance Payments and Benefits”), provided that this Agreement has been executed and delivered to Company and has
become irrevocable on or before the sixtieth (60th) day after the Termination Date. Table 2 to Appendix A references Executives vested and unvested equity and other incentive awards. 

4. Executive acknowledges Company is relying on Executive’s compliance with the terms of the post-termination obligations in the ESA. The
post-termination obligations (and related remedies and other provisions) in the ESA, including, but not limited to Sections 6-18 of the ESA, are incorporated by reference herein, and survive the termination of Executive’s employment. Except for
explicitly set forth as follows in this paragraph 4, all terms of Executive’s ESA remain in full force and effect. 

  
 1 

 Paragraph 1(c) of the ESA is hereby deleted in its entirety and replaced with the following: 

“Business” means (i) core brand snack foods made by the Company or its Affiliates at the time of or during the twelve
(12) month period prior to the Termination Date. This includes any and all types of pretzel products, seasoned pretzels and pretzel crisps; any and all types of potato chips and kettle cooked chips; and any and all types of sandwich cookie and
cracker products; and (ii) the business(es) in which the Company or its Affiliates are or were engaged at the time of, or during the twelve (12) month period prior to, the Termination Date. 

5. In consideration of the Severance Payments and Benefits: 

a. Executive hereby RELEASES Company, its past and present parents, subsidiaries, affiliates, predecessors, successors, assigns, related
companies, entities or divisions, its or their past and present employee benefit plans, trustees, fiduciaries and administrators, and any and all of its and their respective past and present officers, directors, partners, agents, representatives,
attorneys and employees (all collectively included in the term “Company” for purposes of this release), from any and all claims, demands or causes of action which Executive, or Executive’s heirs, executors, administrators, agents,
attorneys, representatives or assigns (all collectively included in the term “Executive” for purposes of this release), have, had or may have against Company, based on any events or circumstances arising or occurring prior to and including
the date of Executive’s execution of this Agreement to the fullest extent permitted by law, regardless of whether such claims are now known or are later discovered, including but not limited to any claims relating to Executive’s employment
or termination of employment by Company, any rights of continued employment, reinstatement or reemployment by Company, and any costs or attorneys’ fees incurred by Executive, PROVIDED, HOWEVER, Executive is not waiving, releasing or giving up
any rights Executive may have to vested benefits under any pension or savings plan, to continued benefits in accordance with the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), to unemployment insurance, or to enforce the
terms of this Agreement, or any other right which cannot be waived as a matter of law. In the event any claim or suit is filed on Executive’s behalf against Company by any person or entity, Executive waives any and all rights to receive
monetary damages or injunctive relief in favor of Executive from or against Company. 
 b. Executive agrees and acknowledges: that this
Agreement is intended to be a general release that extinguishes all claims by Executive against Company; that Executive is waiving any claims arising under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Americans With
Disabilities Act, the Age Discrimination in Employment Act, the Employee Retirement Income Security Act, the Family and Medical Leave Act, the North Carolina Equal Employment Practices Act, the North Carolina Persons with Disabilities Protection
Act, and the North Carolina Retaliatory Employment Discrimination Law, and all other federal, state and local statutes, ordinances and common law, including but not limited to any claims based on public policy, breach of contract, either expressed
or implied, equitable claims, defamation, retaliation, whistleblowing, negligence, invasion of privacy, infliction of emotional distress, slander, libel, estoppel, fraud, misrepresentation, and other torts (including

  
 2 

 
intentional torts) and wrongful discharge, to the fullest extent permitted by law; that Executive is waiving all claims against Company, known or unknown, arising or occurring prior to and
including the date of Executive’s execution of this Agreement; that the consideration that Executive will receive in exchange for Executive’s waiver of the claims specified herein exceeds anything of value to which Executive is already
entitled; that Executive was hereby advised in writing to consult with an attorney and that Executive had at least 21 days to consider this Agreement; that Executive has entered into this Agreement knowingly and voluntarily with full understanding
of its terms and after having had the opportunity to seek and receive advice from counsel of Executive’s choosing; and that Executive has had a reasonable period of time within which to consider this Agreement. Executive represents that
Executive has not assigned any claim against Company to any person or entity; that Executive has no right to any future employment by Company; that Executive has received all compensation, benefits, leave and time off due; and that Executive has not
suffered any injury that resulted, in whole or in part, from Executive’s work at Company that would entitle Executive to payments or benefits under any state worker’s compensation law and the termination of Executive’s employment by
Company is not related to any such injury. 
 6. Executive specifically acknowledges and reaffirms Executive’s ongoing obligations to
Company set forth in the ESA, including without limitation, Section 6, Section 7 (Covenant Not to Compete), Section 8 (Non-Solicitation/No Interference Provisions), Section 9, Section 10 (Confidential Information and Company
Property), and Section 11 (Additional Post-Termination Covenants) and that the Severance Payments and Benefits are subject to forfeiture and repayment pursuant to Section 14 of the ESA. Further, Executive acknowledges that he is subject to
any applicable post-employment covenants contained in any equity/incentive award agreement or plan. Executive represents that Executive has not taken, and does not have in Executive’s possession or control, any materials containing Confidential
Information. 
 7. Executive understands that nothing contained in this Agreement limits Executive’s ability to file a charge or
complaint with the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission, or any other federal, state or local governmental agency or
commission (“Government Agencies”). Executive further understands that this Agreement does not limit Executive’s ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may
be conducted by any Government Agency, including providing documents or other information, without notice to Employer; provided, however, that Executive may not disclose Employer information that is protected by the attorney-client privilege, except
as expressly authorized by law. This Agreement does not limit Executive’s right to receive an award for information provided to any Government Agencies. 

8. Employer provides notice to Executive pursuant to the Defend Trade Secrets Act that: 

a. An individual will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret
that (1) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or
(2) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; and 

  
 3 

 b. An individual who files a lawsuit for retaliation by an employer for reporting a suspected
violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (1) files any document containing the trade secret under seal; and (2) does
not disclose the trade secret, except pursuant to court order. 
 9. This Agreement does not constitute and will not be construed as an
admission by Company that it has violated any law, interfered with any rights, breached any obligation or otherwise engaged in any improper or illegal conduct with respect to Executive, and Company expressly denies that it has engaged in any such
conduct. 
 10. This Agreement, including (i) the ESA as incorporated by reference, (ii) Appendix A, and (iii) equity and
other benefit plans applicable to awards referenced herein, constitutes the entire agreement between the parties and supersedes all prior negotiations and agreements. This Agreement may be modified only by a written instrument signed by all parties
hereto. This Agreement may be executed in one or more counterparts, each of which will be deemed an original, but all of which constitute one and the same Agreement. 

11. If any provision, section, subsection or other portion of this Agreement is determined by any court of competent jurisdiction to be
invalid, illegal or unenforceable in whole or in part, and such determination becomes final, such provision or portion will be deemed to be severed or limited, but only to the extent required to render the remaining provisions and portion of this
Agreement enforceable. This Agreement as thus amended will be enforced so as to give effect to the intention of the parties insofar as that is possible. In addition, the parties hereby expressly empower a court of competent jurisdiction to modify
any term or provision of this Agreement to the extent necessary to comply with existing law and to enforce this Agreement as modified. 
 12.
Executive hereby agrees and acknowledges that Executive has carefully read this Agreement, fully understands what this Agreement means, and is signing this Agreement knowingly and voluntarily, that no other promises or agreements have been made to
Executive other than those set forth in this Agreement, and that Executive has not relied on any statement by anyone associated with Company that is not contained in this Agreement in deciding to sign this Agreement. 

13. This Agreement will be governed by the laws of the State of North Carolina without giving any effect to choice or conflict of law
principles of any jurisdiction and all disputes arising under this Agreement must be submitted to a court of competent jurisdiction in Charlotte, NC. 

14. On or prior to the Termination Date, Executive must return to Company all Company property previously provided to Executive, including, but
not limited to, any Company-owned computer, personal digital assistant, mobile phone, credit cards, keys, key fobs, and computer accessories. 

  
 4 

 15. Executive may accept this Agreement by delivering an executed copy of the Agreement to: 

Snyder’s-Lance, Inc. 

Attention: Gail Sharps Myers, SVP, General Counsel & Secretary 

13515 Ballantyne Corporate Place 

Charlotte, NC 28277 
 (704)
557-8001 Office 
 (704) 557-8069 Facsimile 

gsharpsmyers@snyderslance.com 
 on or
before the 52nd calendar day after the Termination Date (Reminder: This Agreement must be signed and delivered to Company by the 52nd day so
that the 7-day revocation period can lapse and the Agreement may become irrevocable on or before the 60th day after the Termination Date). 

16. Executive may revoke this Agreement within seven (7) days after it is executed by Executive by delivering a written notice of
revocation to: 
 Snyder’s-Lance, Inc. 

Attention: Gail Sharps Myers, SVP, General Counsel & Secretary 

13515 Ballantyne Corporate Place 

Charlotte, NC 28277 
 (704)
557-8001 Office 
 (704) 557-8069 Facsimile 

gsharpsmyers@snyderslance.com 
 no later than
the close of business on the seventh (7th) calendar day after this Agreement was signed by Executive. This Agreement will not become effective or enforceable until the eighth (8th) calendar day after Executive signs and has not revoked
this Agreement. If Executive revokes this Agreement, the parties will have no obligations under this Agreement. 
 17. Neither the Company
nor the Executive shall make any disparaging or defamatory statements, whether written or oral, regarding one another. This provision shall cease to be of any force or effect two (2) years after the Termination Date. This Section shall not be
violated by testimony or statements to a government entity, testimony compelled by legal process, or rebuttal of a false or misleading statement made by Executive. 

[Signature page follows] 

  
 5 

 WHEREFORE, the parties have executed this Agreement on the date or dates set forth below. 

 

	
	 RODRIGO F. TRONI PENA
  

/s/ Rodrigo F. Troni
Pena                            

Date: August 16,
2017                                

	
	 SNYDER’S-LANCE, INC.
  

/s/ Andrea L.
Frohning                              

Name: Andrea L.
Frohning                        

Title: SVP, Chief Human Resources Officer        

Date: August 18,
2017                                    

	

  

  
 6 

 APPENDIX A 

SEVERANCE AGREEMENT AND GENERAL RELEASE 

BETWEEN SNYDER’S-LANCE, INC. AND RODRIGO F. TRONI PENA 

Subject to all terms and conditions of the Agreement, Company shall provide the following consideration to Executive pursuant to Section 3 of the
Agreement. 
 TABLE 1. Description of Severance Payments and Benefits 
  

			
	 Section of the ESA
	  	 Amount and/or description

	Section 3(a)	  	Provided for in Section 2 of the Agreement.
		
	Section 3(b)	  	Total payment of $523,500, payable in 12 monthly installments, commencing on or about the 60th day following the Termination Date.
		
	Section 3(c)	  	 •    2017 Annual Performance Incentive Plan for Officers and Key Managers,
subject to actual performance and paid when paid to other plan participants and prorated for days employed (214 days out of 365)
  

•    2015, 2016 and 2017 LTIPs

•    Stock Options—unvested are forfeited and cancelled as of the Termination Date

 
 •    Restricted
Stock—unvested are forfeited and cancelled as of the Termination Date
  

•    Performance Awards—you are eligible for a prorated portion (as provided for in
Section 3(c) of the ESA) of this award, subject to satisfaction of performance goals and paid when active employees receive their awards
  

•    Performance Restricted Stock Units—you are eligible for a prorated portion (as
provided for in Section 3(c) of the ESA) of this award, subject to satisfaction of performance goals and paid when active employees receive their awards

•    Timing of the awards for which you are eligible as referenced above:

•    2015 awards, if any, are payable in 2018 when others are paid

 
 •    2016 awards, if
any, are payable in 2019 when others are paid
  

•    2017 awards, if any, are payable in 2020 when others are paid

  
 7 

			
	Section 3(d)	  	Indemnification as provided for in the ESA.
		
	Section 3(e)	  	One year of outplacement assistance, not to exceed a value of $34,900, and as otherwise provided for in the ESA.
		
	Section 3(f)	  	 •    No acceleration of any outstanding unvested equity awards.

 
 •    Any options vested
as of the Termination Date shall continue to be exercisable for a period of one year following the Termination Date (or the original expiration date of the option, if shorter).
  

•    TABLE 2 below reflects vesting and exercisability of Executive’s outstanding equity
awards.

 For the avoidance of doubt, the treatment of Executive’s awards under the 2015, 2016 and 2017 Long-Term Performance
Incentive Plans for Officers and Key Managers (each an “LTIP”) will be treated consistent with Section 3 of the ESA. 

  
 8 

 TABLE 2 

Equity and Incentive Award Table. This Table 2 reflects the forfeitures and vesting/eligibility described in Table 1, and no duplication of
awards should be construed. Proration calculations assume a termination date of August 2, 2017. All awards are subject to applicable plans terms and conditions, including forfeiture for violation of any applicable post-employment covenants

 

									
	Non-vested Non-Qualified Stock Option Awards as of the Termination Date
					
	 Plan
	 	 Number
	  	 Exercise Price
	  	 Original Expiration Date
	  	 Status

	2017 LTIP	 	12,060	  	$39.5600	  	02/27/2027	  	Forfeited and cancelled
	2016 LTIP	 	10,470	  	$30.6000	  	03/01/2026	  	Forfeited and cancelled
	2015 LTIP	 	1,821	  	$31.0200	  	03/02/2025	  	Forfeited and cancelled
	
	Vested Non-Qualified Stock Options—Exercisable through August 2, 2018 (one (1) year following the Termination Date, after which any unexercised options are forfeited and cancelled.
					
	 Number
	 	 	  	 Exercise Price
	  	 Original Expiration Date
	  	 New Expiration Date

	5,235	 		  	$30.6000	  	03/01/2026	  	08/02/2018
	3,642	 		  	$31.0200	  	03/02/2025	  	08/02/2018
	29,055	 		  	$26.6600	  	02/24/2024	  	08/02/2018
	5,133	 		  	$26.6600	  	02/24/2024	  	08/02/2018
	
	Non-vested Restricted Stock Awards outstanding as of the Termination Date – Forfeited and cancelled as of the Termination Date

							
	 Plan
	  	Number of Shares of
Restricted Stock	  	Status
	2017 Plan	  	1,737	  	Forfeited and cancelled
	2016 Plan	  	1,362	  	Forfeited and cancelled
	2015 Plan	  	355	  	Forfeited and cancelled

  
 9 

							
	Performance Awards outstanding as of the Termination Date—Prorated by number of days employed during the applicable performance period
				
	 Plan
	  	 Original Award
	  	Proration Factor	  	Eligible for Award Subject to
Actual Performance
	2017 LTIP	  	Target of $82,500	  	214 days/1,092 days	  	New Target of $16,168
	2016 LTIP	  	Target of $75,000	  	578 days/1,093 days	  	New Target of $39,661
	2015 LTIP	  	Target of $66,000	  	942 days/1,093 days	  	New Target of $56,882
	
	Performance Restricted Stock Unit Awards outstanding as of the Termination Date
	 Plan
	  	 Original Award
	  	Proration Factor	  	Eligible for Award Subject to
Actual Performance
	2017 LTIP	  	1,396	  	214 days/1,092 days	  	New Target of 274 units
	2016 LTIP	  	1,671	  	578 days/1,093 days	  	New Target of 883 units
	2015 LTIP	  	       0	  	N/A	  	N/A

  
 10

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