Document:

DNB
      FINANCIAL CORPORATION

    DEFERRED
      COMPENSATION PLAN

    

    

    (Effective
      October 1, 2006)

    

    1. Purpose.

     

    The
      purpose of this DCP is to provide each Eligible Employee with the opportunity
      to
      select the timing of receipt of his or her Compensation. This DCP has been
      adopted by the Board pursuant to the DNB Financial Corporation Incentive Equity
      and Deferred Compensation Plan to partially implement Article IX thereof, and
      shall be considered a part of such Plan and subject to the pertinent terms
      and
      provisions thereof. 

     

    This
      DCP
      shall at all times be maintained by the Company and administered by the
      Committee for the purpose of providing deferred compensation for a select group
      of management and highly compensated employees of the Company and its direct
      and
      indirect subsidiaries. 

     

    2. Eligibility.

     

    Each
      Eligible Employee shall be eligible to participate in this DCP.

     

    3. Definitions.

     

    The
      words
      and phrases set forth below shall have the meanings indicated, unless the
      context requires a different meaning. Each capitalized term or phrase used
      in
      this DCP but not defined in this Section 3 shall have the same meaning as the
      definition of such term or phrase set forth in the DNB Financial Corporation
      Incentive Equity and Deferred Compensation Plan.

     

    (a)  “Beneficiary”
      shall mean the person(s) designated to receive the balance of an Eligible
      Employee’s Deferred Account upon the death of the Eligible Employee. A
      Beneficiary may only be a natural person, a trust, or an entity that is
      tax-exempt under Section 501(c)(3) of the Code.

     

    (b) “Bonus
      Deferral Election” shall mean the written election by an Eligible Employee,
      pursuant to Section 5, below, to defer the receipt of all or a portion of any
      annual or other periodic bonus otherwise payable to the Eligible Employee.
      

     

    (c) “Company”
      shall mean DNB Financial Corporation.

     

    (d) “Compensation”
      shall mean an Eligible Employee’s regular salary and annual or other periodic
      bonuses, and Shares payable pursuant to an Award.

     

    (e) “DCP”
      shall mean the DNB Financial Corporation Deferred Compensation Plan, as set
      forth herein and as may be amended from time to time.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (f) “Effective
      Date” shall mean October 1, 2006, the effective date of this DCP.

     

    (g) “Eligible
      Employee” shall mean an employee of the Company or one or more of its direct or
      indirect subsidiaries who has been expressly designated by the Committee as
      eligible to participate in this DCP.

     

    (h) “Salary
      Deferral Election” shall mean the written election by an Eligible Employee,
      pursuant to Section 4, below, to defer the receipt of up to fifty percent (50%)
      of the regular salary otherwise payable to the Eligible Employee. 

     

    (i) “Share”
      or “Shares” shall mean one or more shares of Stock, including fractional
      shares.

     

    (j) “Share
      Deferral Election” shall mean the written election by an Eligible Employee,
      pursuant to Section 6, below, to defer the receipt of Compensation otherwise
      payable to the Eligible Employee pursuant to an Award. 

     

    4. Salary
      Deferral Election.

     

    (a) Prior
      to
      the commencement of a calendar year, but not later than the preceding December
      15, an Eligible Employee may make a Salary Deferral Election, pursuant to which
      payment of a specified percentage of his or her regular salary earned during
      such year and thereafter and otherwise payable in cash shall be deferred until
      a
      future date established pursuant to Section 8(b), below. Notwithstanding the
      preceding sentence, however, in the case of any individual who will be an
      Eligible Employee as of the Effective Date, or in the case of an individual
      who
      first becomes an Eligible Employee after the Effective Date, the Eligible
      Employee may make a Salary Deferral Election at any time prior to the Effective
      Date or during the period ending on the 30th
      day
      following the Effective Date, or at any time prior to the date on which he
      or
      she first becomes an Eligible Employee or during the period ending on the
      30th
      day
      following the date he or she first becomes an Eligible Employee, as the case
      may
      be, provided that in no event shall such Salary Deferral Election apply with
      respect to any salary earned by the Eligible Employee prior to the date of
      the
      Salary Deferral Election. 

     

    (b) An
      Eligible Employee’s Salary Deferral Election must be in writing, and in such
      form as the Committee shall prescribe. No Salary Deferral Election shall be
      effective with respect to any calendar year unless the amount projected to
      be
      deferred for such year is at least five thousand dollars ($5,000). 

     

    (c) An
      Eligible Employee may modify or revoke his or her Salary Deferral Election
      effective as of the commencement of any calendar year, provided such
      modification or revocation is in writing in such form as the Committee shall
      prescribe, and is delivered to the Company in advance of such year.

     

    (d) An
      Eligible Employee’s Salary Deferral Election, or subsequent modification or
      revocation thereof, shall remain in effect through subsequent calendar years,
      unless and until modified or revoked, or a new Salary Deferral Election is
      made,
      in accordance with the foregoing provisions of this Section 4. 

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    5. Bonus
      Deferral Election.

     

    (a) Prior
      to
      the commencement of a calendar year, but not later than the preceding December
      15, an Eligible Employee may make a Bonus Deferral Election, pursuant to which
      payment of a specified percentage his or her annual or other periodic bonus
      earned during such year shall be deferred until a future date established
      pursuant to Section 8(b), below. Notwithstanding the preceding sentence, however
      - 

     

    (i) In
      the
      case of any individual who will be an Eligible Employee as of the Effective
      Date, or in the case of an individual who first becomes an Eligible Employee
      after the Effective Date, the Eligible Employee may make a Bonus Deferral
      Election prior to the Effective Date or during the period ending on the
      30th
      day
      following the Effective Date, or prior to the date on which he or she first
      becomes an Eligible Employee or during the period ending on the 30th
      day
      following the date he or she first becomes an Eligible Employee, as the case
      may
      be, provided that in no event shall such Bonus Deferral Election apply with
      respect to any bonus earned by the Eligible Employee prior to the date of the
      Bonus Deferral Election. 

     

    (ii) In
      the
      case of any performance-based compensation, within the meaning of Section 409A
      of the Code, based upon a performance period of at least 12 months, an Eligible
      Employee may make a Bonus Deferral Election with respect to such compensation
      no
      later than the date that is six (6) months before the end of the performance
      period, provided that Eligible Employee performed services continuously from
      a
      date no later than the date upon which the performance criteria are established
      through a date no earlier than the date of the Bonus Deferral Election; and
      provided further that in no event shall a Bonus Deferral Election be effective
      with respect to such compensation if it is made after such compensation has
      become both substantially certain to be paid and readily ascertainable.

     

    (b) An
      Eligible Employee’s Bonus Deferral Election must be in writing, and in such form
      as the Company shall prescribe. No Bonus Deferral Election shall be effective
      with respect to any calendar year unless the amount projected to be deferred
      is
      at least five thousand dollars ($5,000) or one hundred percent (100%) of the
      Compensation to which the Bonus Deferral Election relates, whichever is less.
      

     

    (c) An
      Eligible Employee’s Bonus Deferral Election shall apply solely with respect to a
      single calendar year. No portion of an Eligible Employee’s bonus earned during
      any subsequent calendar year shall be deferred pursuant to this DCP or otherwise
      unless a new Bonus Deferral Election is made with respect to such calendar
      year
      pursuant to the foregoing provisions of this Section 5. 

     

    6. Share
      Deferral Election.

     

    (a) Prior
      to
      the commencement of a calendar year, but not later than the preceding December
      15,
      an
      Eligible Employee may make a Share Deferral Election, pursuant to which payment
      of a specified percentage or number of Shares subject to any Award granted
      in

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    such
      year
      shall be deferred until a future date established pursuant to Section 8(b),
      below. Notwithstanding the preceding sentence, however - 

     

    (i) In
      the
      case of any individual who will be an Eligible Employee as of the Effective
      Date, or in the case of an individual who first becomes an Eligible Employee
      after the Effective Date, the Eligible Employee may make a Share Deferral
      Election prior to the Effective Date or during the period ending on the
      30th
      day
      following the Effective Date, or prior to the date on which he or she first
      becomes an Eligible Employee or during the period ending on the 30th
      day
      following the date he or she first becomes an Eligible Employee, as the case
      may
      be, provided that in no event shall such Share Deferral Election apply with
      respect to any Award granted prior to the date of the Share Deferral Election.
      

     

    (ii) In
      the
      case of any Award that constitutes performance-based compensation, within the
      meaning of Section 409A of the Code, based upon a performance period of at
      least
      12 months, an Eligible Employee may make a Share Deferral Election with respect
      to such compensation no later than the date that is six (6) months before the
      end of the performance period, provided that Eligible Employee performed
      services continuously from a date no later than the date upon which the
      performance criteria are established through a date no earlier than the date
      of
      the Share Deferral Election; and provided further that in no event shall a
      Share
      Deferral Election be effective with respect to any Shares if it is made after
      such Shares have become both substantially certain to be paid and the number
      thereof readily ascertainable. 

     

    (b) An
      Eligible Employee’s Share Deferral Election must be in writing, and in such form
      as the Company shall prescribe. 

     

    (c) An
      Eligible Employee’s Share Deferral Election shall apply solely with respect to a
      single calendar year. No Shares payable pursuant to an Award granted to an
      Eligible Employee during any subsequent calendar year shall be deferred pursuant
      to this DCP or otherwise unless a new Share Deferral Election is made with
      respect to such calendar year pursuant to the foregoing provisions of this
      Section 6. 

     

    7. Allocations
      to Deferred Compensation Account.

     

    (a) That
      number of Shares having a Fair Market Value equal to one hundred and ten percent
      (110%) of the amount of Compensation otherwise payable in cash which an Eligible
      Employee has deferred pursuant to a Salary Deferral Election or a Bonus Deferral
      Election shall be allocated to the Eligible Employee’s Deferred Compensation
      Account. The determination of the number of Shares to be allocated shall be
      based on the Fair Market Value of the Stock on the last day of the month in
      which such Compensation would have been paid to the Eligible Employee but for
      his or her Salary Deferral Election or Bonus Deferral Election. 

     

    (b) That
      number of Shares equal to the number of Shares subject to an Award which an
      Eligible Employee has deferred pursuant to a Share Deferral Election shall
      be
      allocated to the Eligible Employee’s Deferred Compensation Account as of the
      last day of the month in which such Shares would otherwise have been paid to
      the
      Eligible Employee, or the last day of the month in which the Eligible Employee
      becomes vested in such Shares, whichever is later. 

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    (c) The
      amount of a cash dividend paid with respect to the Stock shall be deemed to
      be
      paid with respect to the Shares allocated to an Eligible Employee’s Deferred
      Compensation Account and immediately reinvested in additional Shares in
      accordance with the same procedures and valuation provisions as are applicable
      under the Company’s Dividend Reinvestment Plan from time to time.

     

    (d) All
      Shares allocated to an Eligible Employee’s Deferred Compensation Account shall
      be fully vested and shall not be forfeitable for any reason. 

     

    8. Distributions
      from Deferred Compensation Account.

     

    (a) All
      distributions from an Eligible Employee’s Deferred Compensation Account shall be
      in Shares, except that the Fair Market Value of any fraction of a Share as
      of
      the date of distribution shall be paid in cash. All Shares distributed to an
      Eligible Employee or Beneficiary shall be subject to a restriction whereby
      they
      may not be sold, hypothecated or otherwise transferred for a period of one
      (1)
      year from the date of distribution without the express, written consent of
      the
      Committee. Certificates representing distributed Shares shall bear a legend
      reflecting such restriction. 

     

    (b) Distribution
      of an Eligible Employee’s Deferred Compensation Account shall commence upon the
      earlier of the following: 

     

    (i) the
      date
      as of which he or she separates from service with the Company, within the
      meaning of Section 409A of the Code, or 

     

    (ii) the
      attained age of the Eligible Employee or a specified date, in either case as
      designated by the Eligible Employee in his or her first Salary Deferral
      Election, first Bonus Deferral Election, or first Share Deferral Election,
      whichever was made first, or as revised pursuant to Section 8(d),
      below.

     

    If
      the
      Eligible Employee does not designate an age or date pursuant to clause (ii),
      above, distribution of the Eligible Employee’s Deferred Compensation Account
      shall commence upon the occurrence of the event specified in clause (i). A
      single designation shall apply to the entire balance of the Eligible Employee’s
      Deferred Compensation Account.   

     

    (c) Upon
      the
      occurrence of the distribution event set forth in Section 8(b), above, the
      balance of the Eligible Employee’s Deferred Compensation Account shall be
      distributed in one of the following optional forms of distribution, as he or
      she
      may designate in his or her Salary Deferral Election, his or her first Bonus
      Deferral Election, or his or her first Share Deferral Election, whichever was
      made first:

     

    (i) A
      single
      lump sum distribution on or about January 15 of the calendar year following
      the
      calendar year in which such distribution event occurs; or 

     

    (ii) Annual
      installments payable for a number of whole years designated by the Eligible
      Employee in such Salary Deferral Election, Bonus Deferral Election, or Share
      Deferral Election, as the case may be, which number shall not exceed ten (10),
      commencing on or about January 15 of the calendar year following the calendar
      year in which such distribution event occurs, and each January 15 thereafter
      during the installment period.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    However,
      in the case of any specified employee, no distribution shall be made as a result
      of his or her separation from service with the Company, within the meaning
      of
      Section 409A of the Code, before the date which is six months after the date
      of
      such separation from service (or, if earlier, the date of death of the specified
      employee). For purposes of the preceding sentence, a “specified employee” is a
      key employee (as defined in Section 416(i) of the Code without regard to
      paragraph (5) thereof) of the Company or any entity which, along with the
      Company, would be considered a single employer under Section 414(b) or (c)
      of
      the Code. 

     

    In
      the
      absence of a designation by the Eligible Employee pursuant to this Section
      8(c),
      the Eligible Employee shall be deemed to have designated the distribution method
      set forth in clause (i). A single designation shall apply to the entire balance
      of the Eligible Employee’s Deferred Compensation Account. 

     

    If
      distributions are to be made in installments, the amount of each installment
      shall be equal to the balance of the Deferred Compensation Account as of the
      close of the calendar year preceding the date of distribution of the
      installment, divided by the number of installment payments remaining (including
      that installment). 

     

    (d) An
      Eligible Employee may elect to change the timing or method of distribution
      (or
      both) previously designated (or deemed designated) pursuant to Section 8(b)
      or
      8(c), above, by submission of a new designation to the Committee, subject to
      the
      following limitations and any further limitations prescribed by Section 409A
      of
      the Code:

     

    (i) no
      such
      new designation shall take effect until at least 12 months after the date on
      which it is made;

     

    (ii) the
      first
      payment as a result of such new designation shall be made no earlier than five
      (5) years after the date such payment would have been made absent such new
      designation. 

     

    (e) Notwithstanding
      an Eligible Employee’s Salary Deferral Election, Bonus Deferral Election or
      Share Deferral Election, or any provision of this DCP to the contrary, upon
      an
      Eligible Employee’s separation from service with the Company, within the meaning
      of Section 409A of the Code, the Eligible Employee’s entire Deferred
      Compensation Account shall be distributed in a single lump sum on or about
      January 15 of the calendar year following his or her separation from service
      if
      the Fair Market Value of the Deferred Compensation Account as of the close
      of
      such calendar year is not in excess of ten thousand dollars ($10,000).

     

    (f) Distribution
      of all or a portion of an Eligible Employee’s Deferred Compensation Account
      shall be accelerated upon request of the Eligible Employee if the Committee
      determines that the Eligible Employee has experienced an unforeseeable
      emergency, within the meaning of Section 409A of the Code. The amount to be
      distributed shall not exceed the amount necessary to satisfy such unforeseeable
      emergency plus amounts necessary to pay taxes reasonably anticipated as a result
      of such distribution, after taking into account the extent to 

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    which
      such emergency may be relieved through reimbursement or compensation by
      insurance or otherwise or by liquidation of the Eligible Employee’s assets (to
      the extent the liquidation of such assets would not itself cause severe
      financial hardship). 

     

    (g) In
      the
      event of an Eligible Employee’s death prior to the distribution in full of his
      or her Deferred Compensation Account, the Beneficiary shall receive the balance
      of the Eligible Employee’s Deferred Compensation Account in a single lump sum as
      soon as practicable following the Eligible Employee’s death. 

     

    (h) Any
      amount distributed to an Eligible Employee or Beneficiary under this DCP shall
      be subject to all applicable tax withholdings mandated by law. To the extent
      necessary, the number of Shares otherwise distributable at any time shall be
      reduced by that number of Shares having a Fair Market Value equal to the amount
      of tax required to be withheld in connection with such distribution.

     

    9. Designation
      of Beneficiary.

     

    (a) Each
      Eligible Employee shall file with the Company a written designation, in the
      form
      prescribed by the Company, of one or more persons as Beneficiary to receive
      the
      balance of the Eligible Employee’s Deferred Compensation Account upon his or her
      death. The Eligible Employee may, from time to time, revoke or change his or
      her
      Beneficiary designation by filing a new designation with the Company. The last
      such designation received by the Company shall be controlling; provided,
      however, that no designation, change or revocation thereof, shall be effective
      unless received by the Company prior to the Eligible Employee’s
      death.

     

    (b) If
      no
      such Beneficiary designation is in effect at the time of the Eligible Employee’s
      death, or if no designated Beneficiary survives the Eligible Employee, the
      payment of the amount, if any, payable under this DCP upon his or her death
      shall be made to the Eligible Employee’s estate.

    

    10. Claims
      Procedures.

     

    (a) An
      Eligible Employee or, in the event of the Eligible Employee’s death, his or her
      Beneficiary, may file a written claim for payment hereunder with the Committee.
      In the event of a denial of any payment due to or requested by the Eligible
      Employee or Beneficiary (the “claimant”), the Committee will give the claimant
      written notification containing specific reasons for the denial. The written
      notification will contain specific reference to the pertinent provisions of
      this
      DCP on which the denial of the claim is based. In addition, it will contain
      a
      description of any other material or information necessary for the claimant
      to
      perfect a claim, and an explanation of why such material or information is
      necessary. The notification will provide further appropriate information as
      to
      the steps to be taken if the claimant wishes to submit the claim for review
      and
      the time limits applicable thereto, and a statement of the claimant’s right to
      bring a civil action under Section 502(a) of the Employee Retirement Income
      Security Act of 1974, as amended, if applicable. This written notification
      will
      be given to a claimant within ninety (90) days after receipt of the claim by
      the
      Committee unless special circumstances require an extension of time for
      processing the claim, in which case the Committee shall provide written notice
      of the extension to the claimant and the reasons therefore, and the date by
      which the Company expects to make its determination with respect to the claim.
      In no event shall such extension exceed 90 days.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    (b) In
      the
      event of a denial of a claim for benefits, the claimant or a duly authorized
      representative will be permitted to submit issues and comments in writing to
      the
      Committee and to submit documents, records and other information relating to
      the
      claim for benefits. The claimant or a duly authorized representative shall
      also
      be provided, upon request and free of charge, reasonable access to, and copies
      of, all documents, records, and other information relevant to the claimant’s
      claim for benefits. In addition, the claimant or a duly authorized
      representative may make a written request for a full and fair review of the
      claim and its denial by the Committee that takes into account all comments,
      documents, records and other information submitted by the claimant, without
      regard to whether such information was submitted or considered in the initial
      benefits determination; provided, however, that such written request is received
      by the Commitee (or its delegate) within sixty (60) days after receipt by the
      claimant of written notification of the denial. The sixty (60) day requirement
      may be waived by the Committee in appropriate cases.

     

    (c) A
      decision on review of a claim for benefits will be rendered by the Commitee
      within sixty (60) days after the receipt of the request. Under special
      circumstances, an extension (up to an additional 60 days) can be granted for
      processing the decision. Notice of this extension must be provided in writing
      to
      the claimant prior to the expiration of the initial sixty-day period. In no
      event will the decision be rendered more than one hundred twenty (120) days
      after the initial request for review. Any decision by the Commitee will be
      furnished to the claimant in writing and will set forth the specific reasons
      for
      the decision and the specific provisions on which the decision is based. The
      claimant or a duly authorized representative shall also be provided, upon
      request and free of charge, reasonable access to, and copies of, all documents,
      records, and other information relevant to the claimant’s claim for benefits.

     

    11. Amendment
      or Termination.

     

    The
      Board
      reserves the right at any time to amend this DCP in whole or in part,
      retroactively or prospectively, for any reason and without the consent of any
      Eligible Employee or Beneficiary, provided that no amendment may adversely
      affect the rights of an Eligible Employee or a Beneficiary with respect to
      amounts credited to the Eligible Employee’s Deferred Compensation Account prior
      to such amendment or alter the timing of distribution of any Eligible Employee’s
      Deferred Compensation Account. The Board reserves the right at any time to
      terminate this DCP. Upon termination of this DCP, (a) all Elections with respect
      to the deferral of future Compensation shall terminate as of the date specified
      by the Board, but not before the earliest time permitted under Section 409A
      of
      the Code; and (b) the Deferred Compensation Account of each Eligible Employee
      shall be distributed at such time or times as it would have been distributed
      in
      the absence of termination, unless the Board, in its discretion, elects to
      distribute the Deferred Compensation Accounts of all Eligible Employees in
      some
      other manner but in no event prior to the earliest time permitted under Section
      409A of the Code. 

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    12. Miscellaneous.

     

    (a) Nothing
      contained in this DCP shall give the Eligible Employee the right to be retained
      in the employ or other service of the Company. 

     

    (b) If
      the
      Company shall find that any person to whom any amount is payable under this
      DCP
      is unable to care for his affairs because of illness or accident, or is a minor,
      the Company may direct that any amount to which such person is entitled be
      paid
      to his or her spouse, a child, a relative, an institution maintaining or having
      custody of such person, or any other person deemed by the Company to be a proper
      recipient on behalf of such person otherwise entitled to payment. Any such
      payment shall be a complete discharge of the liability of the DCP and the
      Company therefor.

     

    (c) Except
      insofar as may otherwise be required by law, no amount payable at any time
      under
      this DCP shall be subject in any manner to alienation by anticipation, sale,
      transfer, assignment, bankruptcy, pledge, attachment, charge, encumbrance or
      garnishment by creditors of the Eligible Employee or his or her Beneficiary,
      nor
      be subject in any manner to the debts or liabilities of any person, and any
      attempt to so alienate or subject any such amount, whether presently or
      thereafter payable, shall be void.

     

    (d) It
      is the
      intention of the Company that this DCP shall be unfunded for Federal income
      tax
      purposes and for purposes of the Employee Retirement Income Security Act of
      1974, as amended. Accordingly, this DCP constitutes a mere promise by the
      Company to make payments hereunder in the future, and each Eligible Employee
      or,
      if applicable, his or her Beneficiary, shall have the status of a general
      unsecured creditor of the Company with respect to this DCP. Except as provided
      by the terms of any trust established pursuant to Section 9.4 of the DNB
      Financial Corporation Incentive Equity and Deferred Compensation Plan, neither
      an Eligible Employee nor his or her Beneficiary shall have any right, title,
      or
      interest in or to any assets which the Company may hold to aid it in meeting
      its
      obligations hereunder. Such assets, whether held in trust or otherwise, shall
      be
      unrestricted corporate assets. 

     

     

     

     9Amendment No 6

     

    
       

       

       

      Exhibit 10.1
 

       

       

      AMENDMENT
        NO. 6
        TO RECEIVABLES PURCHASE AGREEMENT

       

      THIS
        AMENDMENT NO. 6 TO RECEIVABLES PURCHASE AGREEMENT,
        dated as
        of October 19, 2006 (this “Amendment”),
        is by
        and among Ralcorp Holdings, Inc., a Missouri corporation, as Master Servicer
        (the “Master
        Servicer”), Ralcorp
        Receivables Corporation, a Nevada corporation (together with the Master
        Servicer, the “Seller
        Parties”),
        Falcon Asset Securitization Company LLC, a Delaware limited liability company
        formerly known as Falcon Asset Securitization Corporation (“Conduit”)
        and
        JPMorgan Chase Bank, N.A., successor by merger to Bank One, NA (Main Office
        Chicago), individually and as agent (in such capacity, the “Agent”),
        and
        pertains to the Receivables Purchase Agreement dated as of September 25,
        2001 by
        and among the parties hereto, as heretofore amended (the “Existing
        Agreement”).
        Unless defined elsewhere herein, capitalized terms used in this Amendment
        shall
        have the meanings assigned to such terms in the Existing Agreement.

       

      PRELIMINARY
        STATEMENT

      

      The
        parties wish to amend the Existing Agreement as hereinafter set
        forth.

       

      NOW,
        THEREFORE,
        in
        consideration of the premises and the mutual covenants herein contained,
        and for
        other good and valuable consideration, the receipt and sufficiency of which
        are
        hereby acknowledged, the parties hereto agree as follows:

       

      1. Amendments.

       

      (a) The
        Special Concentration Limits for (i) Albertsons and its Affiliates, (ii)
        SuperValu and its Affiliates, and (iii) Kmart and its Affiliates, are hereby
        cancelled.

       

      (b) Clause
        (i) of the definition of “Eligible
        Receivable” in
        the
        Existing Agreement is hereby amended and restated in its entirety to read
        as
        follows:

       

      (i)  the
        Obligor of which (a) if a natural person, is a resident of the United States
        or
        Canada or, if a corporation or other business organization, is organized
        under
        the laws of the United States or Canada or any political subdivision of either
        of the foregoing and has its chief executive office in the United States
        or
        Canada; (b) is not an Affiliate of any of the parties hereto; and (c) is
        not a
        Designated Obligor, provided,
        however, that
        the
        aggregate Outstanding Balance of all Receivables owing from Obligors organized
        under the laws of, or having their chief executive offices located in, Canada
        or
        any of its political subdivisions that are included in “Eligible Receivables”
shall not exceed at any time 5% of the aggregate Outstanding Balance of all
        Receivables,

       

      (c) The
        definition of “Liquidity
        Termination Date”
        in the
        Existing Agreement is hereby amended and restated in its entirety to read
        as
        follows:

       

      “Liquidity
        Termination Date”
        means
        October 18, 2007.

       

       

       

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

       

       

       

       

       

       

       

       

      (d) Exhibit
        X
        to the Existing Agreement is hereby amended and restated in its entirety
        to read
        as set forth in Annex A hereto.

       

      2. Representations.
        In
        order to induce the Agent and the Purchasers to agree to this Amendment,
        each
        Seller Party hereby makes as of the date hereof each of the representations
        and
        warranties contained in Section 5.1 of the Existing Agreement.

       

      3. Condition
        Precedent.
        This
        Amendment shall become effective as of the date hereof upon receipt by the
        Agent
        of counterparts hereof duly executed by each of the parties hereto.

       

      4. Miscellaneous.

       

      4.1. CHOICE
        OF LAW.

       

      THIS
        AMENDMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL
        LAWS
        (AND NOT THE LAW OF CONFLICTS) OF THE STATE OF ILLINOIS.

       

      4.2. Binding
        Effect.
        This
        Amendment shall be binding upon and inure to the benefit of the parties and
        their respective successors and permitted assigns (including any
        trustee
        in
        bankruptcy and the Agent). 

       

      4.3. Counterparts;
        Severability.

       

      This
        Amendment may be executed in any number of counterparts and by different
        parties
        hereto in separate counterparts, each of which when so executed shall be
        deemed
        to be an original and all of which, taken together, shall constitute one
        and the
        same agreement. Any provisions of this Amendment which are prohibited or
        unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
        to the extent of such prohibition or unenforceability without invalidating
        the
        remaining provisions hereof, and any such prohibition or unenforceability
        in any
        jurisdiction shall not invalidate or render unenforceable such provision
        in any
        other jurisdiction.

       

      

       

      <Signature
        Pages Follow>

       

       

       

       

       

      
 

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

       

       

       

       

       

       

       

      
 

      IN
        WITNESS WHEREOF,
        the
        parties hereto have caused this Amendment to be duly executed and delivered
        as
        of the date hereof.

       

      RALCORP
        HOLDINGS, INC., as
        Master
        Servicer

      

      

      By: 
        /s/
        Scott Monette 

      Name: Scott
        Monette

      Title: Corporate
        VP and Treasurer

      

      

      RALCORP
        RECEIVABLES CORPORATION

      

      

      By: 
        /s/
        Scott Monette 

      Name: Scott
        Monette

      Title: President

      

       

       

       

       

       

       

       

       

       

      
 

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

       

       

       

      
 

      

      JPMORGAN
        CHASE BANK, N.A., individually
        and as Agent

      

      

      By:
        /s/
        Ronald J.
        Atkins           

      Vice
        President

      

      

      

      FALCON
        ASSET SECURITIZATION COMPANY LLC

      

      By:
        JPMorgan Chase Bank, N.A., its attorney-in-fact

      

      

      By:
        /s/
        Ronald J.
        Atkins           

      Vice
        President

      

       

       

       

       

       

       

       

       

       

       

       

       

       

       

      
 

      
        
          
          

        

        
          4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}]]