Document:

Amendment One to Restricted Stock Unit Agreement

 Exhibit 10.12 
 AMENDMENT ONE 
 RESTRICTED STOCK UNIT AGREEMENT 
 CONAGRA FOODS 2006 STOCK PLAN 
 (PRE-JULY, 2007) 
 ConAgra Foods, Inc., a Delaware corporation entered into Restricted Stock Unit Agreements pursuant to the
ConAgra Foods 2006 Stock Plan during the period beginning December 1, 2006 and ending June 30, 2007 (each of which shall be referred to herein as the “Agreement”). In Section 10 of each Agreement, the Company reserved the
unilateral right to amend each Agreement on written notice to the Participant in connection with Section 409A of the Code. The Company desires to exercise such unilateral right to amend the Agreement. 
 Each Agreement is amended as follows, effective January 1, 2009: 
  

	1.	The last sentence of Section 6 is revised by adding the following at the end thereof: 

 , and the date of the Change of Control shall be a Settlement Date. 
  

	2.	Section 6 is further revised by adding the following at the end thereof: 

 “Change of Control” shall occur upon any of the following dates: 
 (a) The date individuals who
constitute the Board (the “Incumbent Board”) cease for any reason during any 12 month period to constitute at least fifty percent (50%) of the members of the Board, provided that any person becoming a director subsequent to the date
hereof whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be, for purposes of this Agreement, considered as though
such person were a member of the Incumbent Board; or 
 (b) The date of consummation of a reorganization, merger or consolidation, in each
case, with respect to which persons who were the stockholders of the Company immediately prior to such reorganization, merger or consolidation do not, immediately thereafter, own 50% or more of the combined voting power of the reorganized, merged or
consolidated company’s then outstanding voting securities. 
 (c) The date that any one person, or more than one person acting as a
group who is not related to the Company within the meaning of Treasury Regulation Section 1.409A-3(i)((vii)(B), acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons)

  

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assets from the Company that have a total gross fair market value equal to or more than 80 percent of the total gross fair market value of all of the assets
of the corporation immediately before such acquisition or acquisitions. For this purpose, gross fair market value means the value of the assets of the corporation, or the value of the assets being disposed of, determined without regard to any
liabilities associated with such assets. 
 For purposes of this Section, “more than one person acting as a group” is determined
under Treasury regulation Section 1.409A-3(i)(5)(v)(B). If a person owns stock in both entities that enter into a merger, consolidation, purchase or acquisition of stock, such shareholder is considered to be acting as a group with other
shareholders in a corporation only with respect to the ownership in that corporation before the transaction giving rise to the change and not with respect to the ownership interest in the other corporation. In no event shall a change of control
occur under circumstances that would not constitute a “change in the ownership of a corporation,” a “change in effective control of a corporation,” or a “change in the ownership of a substantial portion of a
corporation’s assets,” as those terms are defined in regulations and other applicable guidance issued under section 409A of the Code. 
  

	3.	Section 10 is revised by the addition of the following at the end thereof: 

 It is intended that all compensation and benefits payable or provided to Participant under this Agreement shall, to the extent required to comply with Code Section 409A, fully comply with the provisions of
Section 409A of the Internal Revenue Code and the Treasury Regulations relating thereto so as not to subject Participants to the additional tax, interest or penalties which may be imposed under Section 409A. None of the Company, its
contractors, agents and employees, the Board and each member of the Board shall be liable for any consequences of any failure to follow the requirements of Code Section 409A or any guidance or regulations thereunder, unless such failure was the
direct result of an action or failure to act that was undertaken by the Company in bad faith. 
  

	4.	Section 12(a) is amended by replacing the first sentence to read as follows: 

 Continuous Employment with the Company shall mean the absence of an interruption or termination of employment with all Companies and the performance of substantial services. For purposes of this Section 12(a),
“Companies” shall mean the Company and any parent or subsidiary of the Company which now exists or hereafter is organized or acquired by the Company. 
  

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	5.	A new Section 12(c) is added to read as follows: 

 A
Participant shall be considered to have terminated employment or retired under this Agreement, if and only if such Participant has experienced a “Separation from Service” with the Company within the meaning of Code Section 409A.
Generally, a Participant separates from service if and only if the Participant dies, retires, or otherwise has a termination of employment with the Company, determined in accordance with the following: 
 (i) Leaves of Absence. The employment relationship is treated as continuing intact while the Participant is on military leave, sick leave, or other bona
fide leave of absence if the period of such leave does not exceed six (6) months, or, if longer, so long as the Participant retains a right to reemployment with the Company under an applicable statute or by contract. A leave of absence
constitutes a bona fide leave of absence only if there is a reasonable expectation that the Participant will return to perform services for the Company. If the period of leave exceeds six (6) months and the Participant does not retain a right
to reemployment under an applicable statute or by contract, the employment relationship is deemed to terminate on the first date immediately following such six (6) month period. Notwithstanding the foregoing, where a leave of absence is due to
any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than six (6) months, where such impairment causes the Participant to be unable to
perform the duties of his or her position of employment or any substantially similar position of employment, a twenty nine (29) month period of absence shall be substituted for such six (6) month period. 
 (ii) Dual Status. Generally, if a Participant performs services both as an employee and an independent contractor, such Participant must separate from
service both as an employee, and as an independent contractor pursuant to standards set forth in Treasury Regulations, to be treated as having a separation from service. However, if a Participant provides services to the Company as an employee and
as a member of the Board, and if any plan in which such person participates as a Board member is not aggregated with this Agreement pursuant to Treasury Regulation Section 1.409A-1(c)(2)(ii), then the services provided as a director are not
taken into account in determining whether the Participant has a separation from service as an employee for purposes of this Agreement. 
  

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 (iii) Termination of Employment. Whether a termination of employment has occurred is determined based on
whether the facts and circumstances indicate that the Company and the Participant reasonably anticipated that no further services would be performed after a certain date or that the level of bona fide services the Participant would perform after
such date (whether as an employee or as an independent contractor except as provided in (ii) above) would permanently decrease to no more than twenty (20) percent of the average level of bona fide services performed (whether as an employee
or an independent contractor, except as provided in (ii) above) over the immediately preceding thirty six (36) month period (or the full period of services to the Company if the Participant has been providing services to the Company less
than thirty six (36) months). For periods during which a Participant is on a paid bona fide leave of absence and has not otherwise terminated employment as described above, for purposes of this paragraph (iii) the Participant is treated as
providing bona fide services at a level equal to the level of services that the Participant would have been required to perform to receive the compensation paid with respect to such leave of absence. Periods during which a Participant is on an
unpaid bona fide leave of absence and has not otherwise terminated employment are disregarded for purposes of this paragraph (iii) (including for purposes of determining the applicable thirty six (36) month (or shorter) period).

 (iv) As used in connection with the definition of “Separation from Service,” Company includes the Company and any other entity
that with the Company constitutes a controlled group of corporations (as defined in section 414(b) of the Code), or a group of trades or businesses (whether or not incorporated) under common control (as defined in section 414(c) of the Code),
substituting 25% for the 80% ownership level for purposes of both 414(b) and (c). 
  

	6.	A new section 13 is added to read as follows: 

  

	 	(a)	 Notwithstanding anything (including any provision of the Agreement or Plan) to the contrary, if a participant is a “Specified Employee”, payment to the
participant on account of a Separation from Service shall, in accordance with Treasury Regulation Section 1.409A-3(i)(2), be made to the participant on the earlier of (a) the Participant’s death or (b) the first business day (or
within 30 days after such first business day) that is more than six (6) months after the date of Separation from Service. A “Specified Employee” is as defined under Internal Revenue Code Section 409A and Treasury Regulation
Section 1.409A-1(i). In the Company’s sole and absolute discretion, interest may be paid due to such delay. 

  

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Further, any interest will be calculated in the manner determined by the Company in its sole and absolute discretion. Dividend equivalents will not be
paid with respect to any dividends that would have been paid during the delay if the Common Stock had been issued, unless the terms applicable to the Award provide that dividend equivalents on the Award shall be paid at any time while the
Award is outstanding. If dividend equivalents are to be paid with respect to any period during which payment is delayed pursuant to this paragraph, then the payment of such dividend equivalents shall also be delayed until after the end of the
payment delay provided in this paragraph. 

 IN WITNESS WHEREOF, this document is executed on the date set forth below. 
  

			
	CONAGRA FOODS, INC.
		
	By:	 	 /s/ Charles Salter

	Title:	 	Vice President, Human Resources
		
	Date:	 	September 25, 2008

  

 154Form of Restricted Stock Unit Agreement

 Exhibit 10.13 
 FORM OF RESTRICTED STOCK UNIT AGREEMENT 
 CONAGRA FOODS 2006 STOCK PLAN 

 This Restricted Stock Unit Agreement, hereinafter referred to as the “Agreement” is made on the
                     between ConAgra Foods, Inc., a Delaware Corporation (the “Company”) and the undersigned employee of the Company
(“Participant”). 
 1. Award Grant. The Company hereby grants Restricted Stock Units (“RSUs”, and each such unit an
“RSU”) to the Participant under the ConAgra Foods 2006 Stock Plan (the “Plan”), as follows: 
 Participant:

 Employee ID: 
 Number
of RSUs: 
 Date of Grant: 
 Vesting Schedule: * Subject to early settlement upon termination as provided in Paragraph 2 
  

					
	 % Vested
	  	 Vesting Date
	  	 Settlement Date*

		  		  	
		  		  	
		  		  	

 Dividends: Dividend equivalents on the RSU will not be paid or accumulated. 
 IN WITNESS WHEREOF, the Company and the Participant have caused this Agreement to be executed effective as of the date first written above. The Company and the
Participant acknowledge that this Agreement includes six pages including the first page. The Participant acknowledges reading and agreeing to all five pages and that in the event of any conflict between the terms of this Agreement and the terms of
the Plan, the Plan shall control. Capitalized terms used herein without definition have the meaning set forth in the Plan. 
  

							
	CONAGRA FOODS, INC.	 		 	PARTICIPANT
				
	By:	 	  
	 		 	  

	Date	 		 		 	Date

  

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 2. RSU Settlement. (a) Subject to the Plan and
this Agreement, if the Participant has been in Continuous Employment with the Company through a Settlement Date (as set forth in the schedule on Page 1), then the Company will issue to Participant one share of Company common stock (“Common Stock”) on the Settlement Date for each RSU subject to such Settlement Date. Notwithstanding the foregoing, if the Participant’s
Continuous Employment should be involuntarily terminated due to position elimination or reduction in force (as defined in the Company’s sole discretion) after a Vesting Date (as set forth in the schedule on Page 1), but prior to the related
Settlement Date, the Company will issue shares of Common Stock following the termination of employment in settlement of the RSUs that have vested as of the date of termination of employment, and such date of termination of employment shall be the
Settlement Date for all purposes hereunder (this feature referred to herein as “Prorated Vesting”). If the Participant shall die while employed by the Company, or a subsidiary thereof, or if Participant terminates employment with the
Company, or a subsidiary thereof, upon Normal Retirement, all RSUs granted pursuant to this Agreement shall become 100% vested and the Settlement Date shall be a date no later than thirty (30) days after the qualifying event, subject to any
deferral on payment required by Section 409A of the Internal Revenue Code or other applicable law. 
 (b) Participant Representation. As a
condition to settlement of any RSUs, the Company may require the Participant to make any representation and warranty to the Company as may be required by any applicable law or regulation. All RSUs shall be settled no later than thirty (30) days
after the occurrence of the payment event set forth herein, subject to any deferral on payment required by Section 409A of the Internal Revenue Code or other applicable law. 
 (c) Payment of Taxes Upon Settlement. As a condition of the issuance of shares of Common Stock upon settlement of RSUs hereunder, the Participant agrees to remit to the Company at the time of settlement
any taxes required to be withheld by the Company under Federal, State or local law as a result of the settlement of the RSUs. As a condition of the issuance of shares of Common Stock upon settlement of RSUs hereunder, the Participant agrees that the
Company will deduct from the total shares vested a sufficient number of shares to satisfy the minimum statutory withholding amount permissible. 
 (d)
Cancellation of RSUs. Except as set forth in Paragraph 2(a) in the case of death or Normal Retirement or Prorated Vesting, upon the Participant’s termination of employment, RSU’s for which a Settlement Date has not occurred
shall immediately be forfeited without further consideration to the Participant. Additionally, in the event Participant is terminated for cause prior to the Settlement Date, all RSUs, whether vested or unvested, shall be immediately forfeited
without further consideration to the Participant. 
 3. Non-Transferability of RSUs. The RSUs may not be assigned, transferred, pledged or
hypothecated in any manner (otherwise than by will or the laws of descent or distribution) nor may the Participant enter into any transaction for the purpose of, or which has the effect of, reducing the market risk of holding the RSUs by using puts,
calls or similar financial techniques. The RSUs subject to this Agreement may be settled during the lifetime of the Participant only with the Participant. The terms of this Agreement, shall be binding upon the beneficiaries, executors,
administrators, heirs, successors and assigns (“Successors”) of the Participant. 
 4. Stock Subject to the RSUs. The Company will
not be required to issue or deliver any certificate or certificates for shares to be issued hereunder until such shares have been listed (or authorized for listing upon official notice of issuance) upon each stock exchange on which outstanding
shares of the same class are then listed and until the Company has taken such steps as may, in the opinion of counsel for the Company, be required by law and applicable regulations, including the rules and regulations of the Securities and Exchange
Commission, and state securities laws and regulations, in connection with the issuance of such shares, and the listing of such shares on each such exchange. The Company will use its best efforts to comply with any such requirements. 
  

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 5. Rights as Stockholder. The Participant or his/her Successors shall have no rights as stockholder with
respect to any shares covered by this Agreement until the Participant or his/her Successors shall have become the beneficial owner of such shares, and, except as provided in Section 6 of this Agreement, no adjustment shall be made for dividends
or distributions or other rights in respect of such shares for which the record date is prior to the date on which the Participant or his/her Successors shall have become the beneficial owner thereof. 
 6. Adjustments Upon Changes in Capitalization; Change in Control. In the event of any Common Stock dividend or Common Stock split, recapitalization
(including, without limitation, the payment of an extraordinary dividend), merger, consolidation, combination, spin-off, distribution of assets to stockholders, exchange of shares or similar corporate transaction or event involving the Company, the
Committee shall make equitable adjustment in the number of shares subject to this Agreement, provided, however, that no fractional share shall be issued upon subsequent settlement of the RSUs. In the event of a “Change of Control” (as
defined in the Plan) all of the RSUs shall become immediately vested as provided pursuant to Section 12.5 of the Plan, and the date of the Change of Control shall be a Settlement Date. 
 “Change of Control” shall occur upon any of the following dates: 
 (a) The date individuals who constitute the Board (the “Incumbent Board”) cease for any reason during any 12 month period to constitute at least fifty percent (50%) of the members of the Board, provided that any person
becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be, for
purposes of this Agreement, considered as though such person were a member of the Incumbent Board; or 
 (b) The date of consummation of a reorganization,
merger or consolidation, in each case, with respect to which persons who were the stockholders of the Company immediately prior to such reorganization, merger or consolidation do not, immediately thereafter, own 50% or more of the combined voting
power of the reorganized, merged or consolidated company’s then outstanding voting securities. 
 (c) The date that any one person, or more than one
person acting as a group who is not related to the Company within the meaning of Treasury Regulation Section 1.409A-3(i)((vii)(B), acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such
person or persons) assets from the Company that have a total gross fair market value equal to or more than 80 percent of the total gross fair market value of all of the assets of the corporation immediately before such acquisition or acquisitions.
For this purpose, gross fair market value means the value of the assets of the corporation, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. 
 For purposes of this Section, “more than one person acting as a group” is determined under Treasury regulation Section 1.409A-3(i)(5)(v)(B). If a person
owns stock in both entities that enter into a merger, consolidation, purchase or acquisition of stock, such shareholder is considered to be acting as a group with other shareholders in a corporation only with respect to the ownership in that
corporation before the transaction giving rise to the change and not with respect to the ownership interest in the other corporation. In no event shall a change of control occur under circumstances that would not constitute a “change in the
ownership of a corporation,” a “change in effective control of a corporation,” or a “change in the ownership of a substantial portion of a corporation’s assets,” as those terms are defined in regulations and other
applicable guidance issued under section 409A of the Code. 
 7. Notices. Each notice relating to this Agreement shall be deemed to have
been given on the date it is received. Each notice to the Company shall be addressed to its principal Office in Omaha, Nebraska, Attention Corporate Compensation. Each notice to the Participant or any other person or 

  

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persons entitled to shares issuable upon settlement of the RSUs shall be addressed to the Participant’s address and may be in written or electronic
form. Anyone to whom a notice may be given under this Agreement may designate a new address by giving notice to the effect. 
 8. Benefits of
Agreement. This Agreement shall inure to the benefit of and be binding upon each successor of the Company. All obligations imposed upon the Participant and all rights granted to the Company under this Agreement shall be binding upon the
Participant’s Successors. This Agreement shall be the sole and exclusive source of any and all rights which the Participant, his heirs and legal representatives or Successors may have in respect to the Plan or this Agreement. 
 9. Resolution of Disputes. Any dispute or disagreement which should arise under or as a result of or in any way related to the interpretation, construction
or application of this Agreement will be determined by the Committee. Any determination made hereunder shall be final, binding and conclusive for all purposes. This Agreement and the legal relations between the parties hereto shall be governed by
and construed in accordance with the laws of the state of Delaware. 
 10. Section 409A Compliance. This Agreement is intended to comply
with Section 409A of the Internal Revenue Code and any regulations or notices provided thereunder. The Company reserves the unilateral right to amend this Agreement on written notice to the Participant in order to comply with such section. It
is intended that all compensation and benefits payable or provided to Participant under this Agreement shall, to the extent required to comply with Code Section 409A, fully comply with the provisions of Section 409A of the Internal Revenue
Code and the Treasury Regulations relating thereto so as not to subject Participants to the additional tax, interest or penalties which may be imposed under Section 409A. None of the Company, its contractors, agents and employees, the Board and
each member of the Board shall be liable for any consequences of any failure to follow the requirements of Code Section 409A or any guidance or regulations thereunder, unless such failure was the direct result of an action or failure to act
that was undertaken by the Company in bad faith. 
 11. Amendment. Any amendment to the Plan shall be deemed to be an amendment to this
Agreement to the extent that the amendment is applicable hereto; provided, however, that no amendment shall adversely affect the rights of the Participant under this Agreement without the Participant’s consent. 
 12. Definitions. 
 (a) Continuous Employment with the
Company. Continuous Employment with the Company shall mean the absence of any interruption or termination of employment with all Companies and the performance of substantial services. For purposes of this Section 12(a),
“Companies” shall mean the Company and any parent or subsidiary of the Company which now exists or hereafter is organized or acquired by the Company. Continuous Employment shall not be considered interrupted in the case of sick leave, long
term disability, military leave or any other leave of absence approved by the Company or in the case of transfers between payroll locations of the Company or between the Company, its parent or subsidiaries or its successor. 
 (b) Normal Retirement. Normal Retirement shall mean a “Separation from Service” with the Company on or after attaining age 65. The term
“Separation from Service” means the date that the Participant “separates from service” within the meaning of Code Section 409A. Generally, a Participant separates from service if and only if the Participant dies, retires, or
otherwise has a termination of employment with the Company, determined in accordance with the following: 
 (i) Leaves of Absence. The
employment relationship is treated as continuing intact while the Participant is on military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed six (6) months, or, if longer, so 

  

 158 

 
long as the Participant retains a right to reemployment with the Company under an applicable statute or by contract. A leave of absence constitutes a bona
fide leave of absence only if there is a reasonable expectation that the Participant will return to perform services for the Company. If the period of leave exceeds six (6) months and the Participant does not retain a right to reemployment
under an applicable statute or by contract, the employment relationship is deemed to terminate on the first date immediately following such six (6) month period. Notwithstanding the foregoing, where a leave of absence is due to any medically
determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than six (6) months, where such impairment causes the Participant to be unable to perform the
duties of his or her position of employment or any substantially similar position of employment, a twenty nine (29) month period of absence shall be substituted for such six (6) month period. 
 (ii) Dual Status. Generally, if a Participant performs services both as an employee and an independent contractor, such Participant must separate from
service both as an employee, and as an independent contractor pursuant to standards set forth in Treasury Regulations, to be treated as having a separation from service. However, if a Participant provides services to the Company as an employee and
as a member of the Board, and if any plan in which such person participates as a Board member is not aggregated with this Agreement pursuant to Treasury Regulation Section 1.409A-1(c)(2)(ii), then the services provided as a director are not
taken into account in determining whether the Participant has a separation from service as an employee for purposes of this Agreement. 
 (iii) Termination of Employment. Whether a termination of employment has occurred is determined based on whether the facts and circumstances indicate that the Company and the Participant reasonably anticipated that no further services would
be performed after a certain date or that the level of bona fide services the Participant would perform after such date (whether as an employee or as an independent contractor except as provided in (ii) above) would permanently decrease to no
more than twenty (20) percent of the average level of bona fide services performed (whether as an employee or an independent contractor, except as provided in (ii) above) over the immediately preceding thirty six (36) month period (or
the full period of services to the Company if the Participant has been providing services to the Company less than thirty six (36) months). For periods during which a Participant is on a paid bona fide leave of absence and has not otherwise
terminated employment as described above, for purposes of this paragraph (iii) the Participant is treated as providing bona fide services at a level equal to the level of services that the Participant would have been required to perform to
receive the compensation paid with respect to such leave of absence. Periods during which a Participant is on an unpaid bona fide leave of absence and has not otherwise terminated employment are disregarded for purposes of this paragraph
(iii) (including for purposes of determining the applicable thirty six (36) month (or shorter) period). 
 (iv) As used in
connection with the definition of “Separation from Service,” Company includes the Company and any other entity that with the Company constitutes a controlled group of corporations (as defined in section 414(b) of the Code), or a group of
trades or businesses (whether or not incorporated) under common control (as defined in section 414(c) of the Code), substituting 25% for the 80% ownership level for purposes of both 414(b) and (c). 
 13. Notwithstanding anything (including any provision of the Agreement or Plan) to the contrary, if a participant is a “Specified Employee”, payment to the
participant on account of a Separation from 

  

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Service shall, in accordance with Treasury Regulation Section 1.409A-3(i)(2), be made to the participant on the earlier of (a) the
Participant’s death or (b) the first business day (or within 30 days after such first business day) that is more than six (6) months after the date of Separation from Service. A “Specified Employee” is as defined under
Internal Revenue Code Section 409A and Treasury Regulation Section 1.409A-1(i). In the Company’s sole and absolute discretion, interest may be paid due to such delay. Further, any interest will be calculated in the manner
determined by the Company in its sole and absolute discretion. Dividend equivalents will not be paid with respect to any dividends that would have been paid during the delay if the Common Stock had been issued. 
  

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