Document:

Excess Plan Agreement for Michael L. Jackson

 Exhibit 10.1 
 EXCESS PLAN AGREEMENT 
 FOR 
 MICHAEL L. JACKSON 
 This Agreement
(“Agreement”) is dated as of May 27, 2008, by and between SUPERVALU INC., a Delaware corporation (the “Company”), and Michael L. Jackson (“Jackson”). 
 WHEREAS, Jackson has been an employee of the Company in various capacities, divisions and subsidiaries since 1979; and 
 WHEREAS, 23.92 years of his service has been in positions for which he accrued benefits under the tax qualified defined benefit pension plan known as the
SUPERVALU INC. Retirement Plan (the “Retirement Plan”) and were taken into account under the companion nonqualified plan known as the SUPERVALU INC. Excess Benefits Plan (the “Excess Plan” and together with the Retirement Plan
the “DB Plans”); and 
 WHEREAS, 5.08 years of his service has been in positions for which he did not accrue benefits under the
Retirement Plan (“Non-Corporate Service”) but for which he did accrue some benefits attributable to employer contributions under a tax qualified defined contribution plan known as the West Coast Grocery Profit Sharing Plan (the “DC
Plan”); and 
 WHEREAS, Jackson is a participant in the nonqualified deferred compensation plan maintained by the Company known as the
SUPERVALU Executive Deferred Compensation Plan (the “EDC Plan”); and 
 WHEREAS, it is desirable that Jackson be provided
additional benefits in recognition of his Non-Corporate Service that is not otherwise taken into account under the DB Plans and that it be provided on the terms and conditions herein after specified; 
 NOW, THEREFORE, in consideration of the promises and the mutual covenants and agreements contained herein and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the Company and Jackson agree as follows: 
 1. Determine an Incremental Excess Plan Benefit.
Effective as of the earlier of the date of Jackson’s separation from service (as defined in the EDC Plan) from the Company and all affiliated corporations or December 31, 2012, determine the following amounts for Jackson. 
  

	 	(a)	Excess Plan Benefit – No DC Plan Service. Compute the Excess Plan benefit (expressed as a single life annuity commencing at normal retirement age) he is entitled to
receive under the terms of the Excess Plan (that is, not taking into account his 5.08 years of Non-Corporate Service as if they had been years of service with the Company that counted for the purpose of determining either his Excess Plan benefit or
his Retirement Plan benefit). 

	 	(b)	Modified Excess Plan Benefit – Imputed DC Plan Service. Compute the increased Excess Plan benefit (expressed as a single life annuity commencing at normal retirement
age) he would receive if his 5.08 years of Non-Corporate Service were taken into account as years of service with the Company that counted for the purpose of determining his Excess Plan benefit and his Retirement Plan benefit.

  

	 	(c)	Subtraction. Subtract the Excess Plan benefit determined in “a” from the modified Excess Plan benefit determined in “b.” 

 2. Special Credit under EDC Plan. As of that same date, the resulting amount, if any, shall be converted to a single lump sum present value (employing the same
actuarial methods and assumptions that are used at that time for the purpose of computing the DB Restoration Credit under the EDC Plan) and that present value shall be credited to his DB Restoration Account under the EDC Plan. Thereafter, it shall
be distributed from that EDC Plan in accordance with the rules of the EDC Plan as in effect from time to time. 
 3. Additional Rules. 
  

	 	(a)	Additional Benefit. The amount of the credit provided under this Agreement shall be in addition to and not in lieu of any benefits he may be entitled to receive under the
Retirement Plan, the DC Plan, the Excess Plan or other provisions of the EDC Plan. 

  

	 	(b)	Other Plans and Obligations. The provisions of this Agreement, and any payment provided for herein, shall not supersede or in any way limit the rights, benefits, duties or
obligations which Jackson may now or in the future have under any benefit, incentive or other plan or arrangement of the Company or any other agreement with the Company. 

  

	 	(c)	Withholding. The amount of the credit provided under this Agreement shall be reduced by the amount of any applicable payroll, income and other taxes withheld.

 4. Not an Employment Agreement. Subject to the terms of this or any other agreement or arrangement between the Company and Jackson
that may then be in effect, nothing herein shall prevent the Company from terminating Jackson’s employment. 
 5. Successors; Binding Agreement,
Assignment. 
  

	 	(a)	 The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business of
the 

  

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Company, by agreement to expressly, absolutely and unconditionally assume and agree to perform this Agreement in the same manner and to the same extent that
the Company would be required to perform it if no such succession had taken place. Failure of the Company to obtain such agreement prior to the effectiveness of any such succession shall be a material breach of this Agreement and shall entitle
Jackson to terminate Jackson’s employment with the Company or such successor for Good Reason immediately prior to or at any time after such succession. As used in this Agreement, “Company” shall mean (i) the Company as
hereinbefore defined, and (ii) any successor to all or substantially all of the Company’s business or assets which executes and delivers an agreement provided for in this Section 5(a) or which otherwise becomes bound by all the terms
and provisions of this Agreement by operation of law, including any parent or subsidiary of such a successor. 

  

	 	(b)	This Agreement shall inure to the benefit of and be enforceable by Jackson’s personal or legal representatives, executors, administrators, successors, heirs, distributees,
devisees and legatees. If Jackson should die while any amount would be payable to Jackson hereunder if Jackson had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to
Jackson’s estate or designated beneficiary. Neither this Agreement nor any right arising hereunder may be assigned or pledged by Jackson. 

 6. Notice. For purpose of this Agreement, notices and all other communications provided for in this Agreement or contemplated hereby shall be in writing and shall be deemed to have been duly given when personally delivered or when
mailed United States certified or registered mail, return receipt requested, postage prepaid, and addressed, in the case of the Company, to the Company at: 
 P.O. Box 990 
 Minneapolis, MN 55440 
 Attention: Executive Vice President, Human Resources 
 and in
the case of Jackson, to Jackson at the most current address shown on Jackson’s employment records. Either party may designate a different address by giving notice of change of address in the manner provided above, except that notices of change
of address shall be effective only upon receipt. 
 7. Expenses. In addition to all other amounts due with respect to Jackson under this Agreement,
the Company shall pay or reimburse Jackson for legal fees (including without limitation, any and all court costs and attorneys’ fees and expenses), incurred by Jackson in connection with or as a result of any claim, action or proceeding brought
by the Company or Jackson with respect to or arising out of this Agreement or any provision hereof; unless, (i) in the case of an action brought by Jackson, it is determined by an arbitrator or by a court of competent jurisdiction that such
action was frivolous and was not brought in good faith, or (ii) in the case of a claim arising under Section 11 hereof, the Company prevails on the merits of such claim. 
  

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 8. Amendment. No provision of this Agreement may be amended, altered, modified, waived or discharged unless such
amendment, alteration, modification, waiver or discharge is agreed to in writing signed by Jackson and such officer of the Company as shall be specifically designated by the Executive Personnel and Compensation Committee. 
  

	 	(a)	Notwithstanding the foregoing, if the Company determines from time to time in good faith that any provision of this Agreement is not or may not be in compliance with
Section 409A of the Code and that such provisions can be amended to comply with Section 409A without causing any violation of any other provision of law, the Company may, but shall not be obligated to, amend such provision without the
consent of Jackson for the purpose of eliminating or modifying the provision in such manner as the Company determines to be necessary and appropriate to comply with Section 409A of the Internal Revenue Code (the “Code”). In effecting
any such amendment, the Company shall replace any benefits that may be lost with economic consideration of its choosing that is of equal cost or of equal value, as determined in its reasonable discretion. Unless under the circumstances it is
impracticable to do so, Jackson shall be given reasonable advance notice of the Company’s intention to amend. Jackson shall receive such written notice as soon as practicable after its effective date. 

  

	 	(b)	No waiver by either party, at any time, of any breach by the other party of, or of compliance by the other party with, any condition or provision of this Agreement to be performed
or complied with by such other party shall be deemed a waiver of any similar or dissimilar provision or condition of this Agreement or any other breach of or failure to comply with the same condition or provision at the same time or at any prior or
subsequent time. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth in this Agreement. The validity, interpretation,
construction and performance of this Agreement shall be governed by the laws of the State of Delaware without giving effect to its conflict of laws rules. Any action brought by Jackson or the Company shall be brought and maintained in a court of
competent jurisdiction in the State of Minnesota. 

 9. Severability. If any one or more of the provisions of this Agreement shall be
held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions of this Agreement shall not be affected thereby. To the extent permitted by applicable law, each party hereto waives any provision of
law which renders any provision of this Agreement invalid, illegal or unenforceable in any respect. 
 10. Counterparts. This Agreement may be
executed in counterparts, each of which shall be an original and all of which shall be deemed to constitute one and the same instrument. 
  

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 11. Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to
the subject matter hereof, and supersedes all prior oral or written agreements, commitments or understanding with respect to the matters provided for herein (except that any other non-disclosure, non-competition or non-solicitation agreements or
provisions the parties hereto have entered into shall continue to be in effect). 
 IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the date first above written. 
  

							
	Witnesses:	 		 	SUPERVALU INC.
			
	  
	 		 	  

				
		 		 	Name:	 	  

				
		 		 	Title:	 	  

			
	  
	 		 	  

		 		 	Michael L. Jackson,
		 		 	President and Chief Operating Officer

  

 -5-Stock Plan Form of Performance Stock Unit Award Agreement (restricted stock)

 Exhibit 10.2 
 SUPERVALU INC. 
 FISCAL 2009-2010 LONG-TERM INCENTIVE PROGRAM 
 UNDER THE 2007 STOCK PLAN 
 PERFORMANCE STOCK UNIT AWARD 
 AGREEMENT (RESTRICTED STOCK SETTLED) 
 This agreement is made and entered into as of the grant date indicated below (the “Grant Date”), by and between SUPERVALU INC. (the
“Company”), and the individual whose name appears below (“Recipient”). 
 The Company has established the Fiscal
2009-2010 Long-Term Incentive Program under the 2007 Stock Plan (the “Plan”), under which key employees of the Company may be granted Awards of Performance Stock Units of the Company. Recipient has been selected by the Company to receive
an Award of Performance Stock Units subject to the provisions of this agreement. Capitalized terms that are used in this agreement, that are not defined, shall have the meanings ascribed to them in the Plan. 
 In consideration of the foregoing, the Company and Recipient hereby agree as follows: 
 1. Grant. The Company hereby grants to Recipient, subject to Recipient’s acceptance hereof, an Award of Performance Stock Units for the number
of Performance Stock Units indicated below, effective as of the Grant Date. 
 2. Acceptance of Award of Performance Stock Units and
Performance Stock Unit Award Terms and Conditions. The Award of Performance Stock Units is subject to and governed by the Performance Stock Unit Award Terms and Conditions (“Terms and Conditions”) attached hereto, which are
incorporated herein and made a part hereof, and the terms and provisions of the Plan. To accept the Award of Performance Stock Units, Recipient must sign and return a copy of this agreement to the Company or this agreement must be delivered and
accepted through an electronic medium in accordance with procedures established by the Company. By so doing, Recipient acknowledges receipt of the accompanying Terms and Conditions and the Plan, and represents that Recipient has read and understands
the same and agrees to be bound by the accompanying Terms and Conditions and the terms and provisions of the Plan. In the event that any provision of this agreement or the accompanying Terms and Conditions is inconsistent with the terms and
provisions of the Plan, the terms and provisions of the Plan shall govern. Any question of administration or interpretation arising under this agreement or the accompanying Terms and Conditions shall be determined by the Committee administering the
Plan, and such determination shall be final, conclusive and binding upon all parties in interest. 
 3. Earning of Performance Stock
Units; Award of Restricted Stock. Subject to the accompanying Terms and Conditions, the number of Performance Stock Units that shall be earned by Recipient under the Award of Performance Stock Units shall be determined in April 2010 in
accordance with Exhibit A attached hereto, which is incorporated herein and made a part hereof. Upon earning the Performance Stock Units, Recipient shall receive a grant of an Award of Restricted Stock, as more particularly described in the
accompanying Terms and Conditions. 
  

					
	Grant Date:	  	May 28, 2008	  	
			
	Number of Performance Stock Units Awarded:	  		  	

  

													
	SUPERVALU INC.	 		 		 		 	RECIPIENT:
						
	By:	 	 

	 		 		 		 	  

		 	David E. Pylipow	 		 		 		 	
		 	Executive Vice President, Human Resources	 		 		 		 	
		 		 		 		 		 	SS#

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