Document:

Amendment One to ConAgra Foods, Inc. 2006 Performance Share Plan

 Exhibit 10.8 
 AMENDMENT ONE 
 CONAGRA FOODS, INC. 
 2006 PERFORMANCE SHARE PLAN (THE “PLAN”) 
 Effective January 1, 2009, the Plan (attached hereto as Exhibit A) is amended to clarify the intent that the Plan provides only “short-termed deferrals” within the meaning Section 409A of the
Internal Revenue Code and the regulations thereunder, and to include 409A-compliant provisions to apply in the unintended event that any awards under this Plan are subject to 409A. All capitalized terms used but not defined in this Amendment One
have the same meaning as in the Plan. 
  

	1.	It is hereby confirmed that the terms of the ConAgra Food Performance Share Plan Operational Document (Effective September 27, 2006) (the “Operational Document”) are
a part of the terms of the Plan. 

  

	2.	Section 7 is amended by adding the following at the end: 

 For all purposes of this Plan, including but not limited to the Operational Document, all vested awards shall be paid on or before the later of (a) the fifteenth day of the third month that begins after the month containing the end of
the applicable fiscal year or Performance period or (b) the fifteenth day of the third month that begins after the end of the Participant’s tax year in which the end of the applicable fiscal year or Performance Period occurs. 

 

	3.	Section 8 is amended by adding the following at the end: 

 Such stock shall be distributed to the Participant on or before the later of (a) the fifteenth day of the third month that begins after the month containing the end of the applicable fiscal year or Performance period during which such
Stock is no longer subject to a substantial risk of forfeiture (as defined under Internal Revenue Code Section 409A) or (b) the fifteenth day of the third month that begins after the end of the Participant’s tax year during which such
Stock is no longer subject to a substantial risk of forfeiture (as defined under Internal Revenue Code Section 409A). 
  

	4.	The first sentence of Section 9 is replaced with the following: 

 In the event of a Participant’s termination due to Disability or Retirement, a distribution shall be made of a pro rata share of the Performance Shares that are earned and certified for the relevant Performance
Period or fiscal year in accordance with Section 7, prorated based upon the full number of fiscal years completed during the Performance Period as of the Participant’s termination 

  

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date. Such Performance Shares shall be distributed to the Participant at the same time Performance Shares are distributed to other Participants who remain
employed with the Company. 
  

	5.	Section 12 is amended by adding the following at the end: 

 Any payments made under this Section 12 shall be paid no later than the fifteenth day of the third month that begins after the later of (i) the end of the Participant’s tax year in which the Change in Control occurs or
(ii) the end of the Company’s fiscal year in which the Change in Control occurs. 
  

	6.	A new Section 14.10 is added to read as follows: 

 Code Section 409A. Unless the Committee expressly determines otherwise, Performance Shares are intended to be exempt from Code Section 409A as short-term deferrals and, accordingly, the terms of any Performance Shares award
shall be construed to preserve such exemption. To the extent the Committee determines that Code Section 409A applies to a particular award granted under the Plan, then the terms of the award shall be construed and administered to permit the
award to comply with Code Section 409A. In the event anyone is subject to income inclusion, additional interest or taxes, or any other adverse consequences under Code Section 409A (“Non-compliance”), then neither the Company, the
Committee, the Board nor its or their employees, designees, agents or contractors shall be liable to any Participant or other persons in connection with any Non-compliance, except to the extent the Non-compliance was the direct result of any Company
action or failure to act that was under taken in bad faith. 
 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

  

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 “EXHIBIT A” 
 CONAGRA FOODS, INC. 
 PERFORMANCE SHARE PLAN 
 Effective May 29, 2006, ConAgra Foods, Inc. (“Company”) hereby adopts the ConAgra Foods, Inc. Performance Share Plan (“Plan”). 
 1. Purpose. The purpose of the Plan is to foster and promote the long term financial success of the Company and increase stockholder valued by
(a) motivating superior performance by means of performance shares, (b) encouraging and providing for the acquisition of an ownership interest in the Company by Participants and (c) enabling the Company to attract and retain the
services of a management team responsible for the long-term financial success of the Company. 
 2. Eligibility. The only persons eligible to
participate in the Plan shall be those Participants selected by the Committee or the Chief Executive Officer of the Company (“CEO”); provided, however, the CEO may only select, and assign a targeted number of Performance Shares to,
individuals who are not “Covered Employees” as defined in Code § 162(m) (“Covered Employees”). 
 3. Participation.
Within 90 days of the commencement of each Performance Period, the Committee and/or CEO shall select the individuals, if any, who shall participate in the Plan for the applicable Performance Period (“Participants”). The “Performance
Period” shall be the three consecutive fiscal years beginning with the fiscal year for which the award is granted. The Committee and/or CEO shall assign a targeted number of Performance Shares to each selected Participant for the Performance
Period. Notwithstanding the preceding, the Committee or CEO may select additional Participants during the Performance Period and make an award to such Participants; provided no such additional Participant shall be a Covered Employee unless such
additional Participant’s award does not begin until the next succeeding fiscal year. 
 4. Performance Goals. Within ninety days of the
commencement of each Performance Period, the Committee shall establish an award schedule that sets forth a range of performance scenarios and related Performance Shares earned. The range performance and awards earned shall be based upon Company
earnings before interest and taxes (EBIT) and Company return on average invested capital (ROIAC) measured over the Performance Period. For the Performance Period beginning with fiscal year end 2007, the Committee shall establish an awards schedule
for the first fiscal year of the Performance Period and an awards schedule for the entire Performance Period, which would apply to the cumulative fiscal years 2007 and 2008. For Performance Periods beginning after fiscal year end 2007, the Committee
shall establish an awards schedule for the entire Performance Period. The awards actually earned shall range from zero to three hundred percent of the targeted number of Performance Shares. At the discretion of the Committee, different award
schedules may be established for different Participants and/or for different executive levels. 
  

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 5. Administration of the Plan. The Plan shall be administered by the Committee. The Committee by majority
action thereof, is authorized to prescribe, amend, and rescind rules and regulations relating to the Plan, to provide for conditions deemed necessary or advisable to protect the interest of the Company, and to make all other determinations necessary
or advisable for the administration and interpretation of the Plan in order to carry out its provisions and purposes. Determinations, interpretations, or other actions made or taken by the Committee pursuant to the provisions of the Plan shall be
final, binding, and conclusive for all purposes and upon all persons. Subject to the terms and conditions of this Plan, the Committee and CEO shall determine the Participants to whom awards are granted and the terms and conditions of such awards.
The Committee may require each individual earning an award under the Plan to enter into an agreement with the Company regarding the terms of the award and the employee’s employment. Except to the extent prohibited by applicable law or the
applicable rules of a stock exchange, the Committee may delegate all or any portion of its responsibilities and powers to any one or more of its members. 
 6. Earning of Awards. 
  

	 	6.1.	For the Performance Period beginning with fiscal year end 2007, up to one-third of the targeted Performance Shares may be earned in fiscal year end 2007 based upon the awards
schedule for fiscal year end 2007; up to one-third of the targeted Performance Shares may be earned in fiscal year end of 2008 based upon the awards schedule for the entire Performance Period, representing cumulative performance in 2007 and 2008;
and the balance of the targeted Performance Shares, and any above target payout, may be earned based upon the awards schedule established by the Committee for the entire Performance Period. In no event will the amount paid in each of 2007 and 2008
exceed one-third of the three-year target. 

  

	 	6.2.	For Performance Periods beginning after fiscal year end 2007, the target Performance Shares actually earned shall be based upon the awards schedule established for the entire
Performance Period. 

  

	 	6.3.	The actual amount of Performance Shares earned by the individual Participant is based upon achieving the EBIT and ROAIC goals as set by the Committee at the time the target
Performance Shares are established. The CEO may increase or decrease the amount of an award earned by a Participant who is not a Covered Employee based upon the CEO’s assessment of the Participant’s individual contribution to the Company.

 7. Distribution of Performance Shares Earned. Subject to Sections 8, 9 and 10 below, awards earned hereunder are not payable
until after the Performance Period. Earned awards will be paid after (i) the Company has received an opinion from its independent auditors with respect to the Company’s financial statements for the Performance Period, and (ii) the
Committee has certified in writing that the material terms of this Plan were satisfied and that awards were accurately computed according to the terms of the Plan. All awards, including dividend equivalent payments, hereunder shall be paid in shares
of Stock (except for fractional shares which shall be paid in cash). Notwithstanding the preceding, for the Performance Period beginning with fiscal year end 2007, awards will be distributed after the fiscal year in which the award is earned.

  

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 8. Termination for Reasons Other Than Death, Disability or Retirement. A Participant who terminates
employment with the Company and its Subsidiaries for any reason other than death, Disability or Retirement shall forfeit all awards hereunder that have not been paid at the date of termination, whether earned or not. Notwithstanding the preceding,
the Committee, at its sole and absolute discretion, may distribute Stock for all or some of the Performance Shares that are forfeited by a Participant, which the Committee deems to be appropriate and in the best interest of the Company. 

9. Disability or Retirement. In the event of a Participant’s termination due to Disability or Retirement, earned, but unpaid Performance Shares
shall be distributed as soon as reasonably practicable after the termination due to Disability or Retirement based upon actual performance at the end of the fiscal year ending on or immediately before said termination. No distribution will be made
with respect to the fiscal year in which the termination of employment occurs, unless the date of termination is the last day of the applicable fiscal year. 
 10. Death. In the event of a Participant’s death, a distribution shall be made of a pro rata share of the targeted Performance Shares that have not been distributed based upon the full number of years completed during the
Performance Period. The payment shall be made within 75 days of the date of death. 
 11. Dividends and Voting Rights. Upon the payment of
earned Performance Shares, the Participant shall receive additional shares of Stock representing dividend equivalents. The amount of dividend equivalents for each Performance Share earned shall equal the dividends paid on one share of Stock during
the period between the beginning of the Performance Period and the date of distribution. A Participant shall not have voting rights with respect to any Performance Shares or with respect to the Stock until the Stock is delivered to the Participant.

 12. Payments Upon Change of Control. Upon a Change of Control, the Company may, at the Board’s, or the Human Resources
Committee’s, as the case may be, sole and absolute discretion, pay the Participant all or a portion of the Participant’s award hereunder. The amounts paid may be based upon (a) a proration of the Participant’s target Performance
Shares, (b) a proration of the projected Performance Shares at the time of the Change of Control, or (c) a pro rata amount computed at the end of the fiscal year. Any proration shall be based upon the number of completed months elapsed in
the Performance Period since the Change of Control. 
 13. Awards Grant. Subject to the terms and conditions hereof, the awards granted and
distributed hereunder to Covered Employees shall be pursuant to the ConAgra Foods, Inc. Executive Incentive Plan (“EIP”), and to the extent necessary for compliance with Code § 162(m) for the tax deductibility of an award, the
provisions of the EIP shall apply to the awards hereunder. Awards earned and Stock distributed hereunder shall be granted and distributed under a ConAgra Foods Stock Plan (“Stock Plan”). To the extent not inconsistent with the provisions
of this Plan, the provisions of the EIP and Stock Plan shall apply to this Plan and the awards hereunder. 
  

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 14. Miscellaneous Provisions. 
  

	 	14.1.	Nontransferability of Awards. Except as otherwise provided by the Committee, no awards granted under the Plan may be sold, transferred, pledged, assigned, or otherwise
alienated or hypothecated, other than by will or by the laws of descent and distribution. 

  

	 	14.2.	Beneficiary Designation. Each Participant under the Plan may from time to time name any beneficiary or beneficiaries (who may be named contingent or successively) to
whom any benefit under the Plan is to be paid or by whom any right under the Plan is to be exercised in case of his death. Each designation will revoke all prior designations by the same Participant, shall be in a form prescribed by the Committee,
and will be effective only when filed in writing with the Committee. In the absence of any such designation, awards outstanding at death will be paid to the Participant’s surviving spouse, if any, or otherwise to the Participant’s estate.

  

	 	14.3.	No Guarantee of Employment or Participation. Nothing in the plan shall interfere with or limit in any way the right of the Company or any Subsidiary to terminate any
Participant’s employment at any time, nor confer upon any individual any right to continue in the employ of the Company or any Subsidiary. No Employee shall have a right to be selected as a Participant, or, having been so selected, to receive
any future awards. 

  

	 	14.4.	Tax Withholding. The Company shall have the power to withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, and
local withholding tax requirements on any award under the Plan, and the Company may defer issuance of Stock until such requirements are satisfied. 

  

	 	14.5.	Agreements with Company. An award under the Plan shall be subject to such terms and conditions, not inconsistent with the Plan, as the Committee may, in its sole and
absolute discretion, prescribe. The terms and conditions of any award to any Participant shall be reflected in such form of written document as is determined by the Committee or its designee. 

  

	 	14.6.	Code § 409A. If any provision of the Plan or an award contravenes Code § 409A or any regulations promulgated under Code § 409A, or could cause an award
to be subject to interest and penalties under Code § 409A, such provision of the Plan or any award shall be modified to maintain, to the maximum extent practicable, the original intent of the applicable provision without violating the
provisions of Code § 409A. 

  

	 	14.7.	Unfunded Plan. The plan shall be unfunded. Bookkeeping accounts may be established with respect to Participants who are granted Performance Shares under the Plan, but
any such accounts shall be used merely as a bookkeeping convenience. The Company shall not be required to segregate any assets which may at any time be represented by Performance Shares. 

  

	 	14.8.	Requirements of Law. The granting of Performance Shares and the issuance of shares of Stock shall be subject to all applicable laws, rules, and regulations, and to
such approvals by any governmental agencies or securities exchanges as may be required. 

  

	 	14.9.	 Changes in Stock. In the event of any change in the outstanding Stock by reason of any share dividend or split, recapitalization, merger,
consolidation, spin-off reorganization, combination or exchange of shares, or other similar corporate change, then, if the Committee shall determine, in its sole discretion, that such change equitably requires an 

  

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adjustment in the number or kind of Performance Shares or target Performance Shares of a Participant or which may be awarded to a Participant, or an
adjustment in any measures of performance, such adjustments shall be made by the Committee and shall be conclusive and binding for all purposes of the Plan. 

 15. Amendment or Termination of Plan. The Board may from time to time amend, modify or terminate any or all of the provisions of the Plan; provided, however, no amendment, modification or
termination shall affect the rights of any Participant with respect to a previously granted award, without the written consent of the Participant. 
 16.
Definitions. Whenever used herein, the following terms shall have the respective meanings set forth below: 
  

	 	16.1.	“Board” means the Board of Directors of the Company. 

  

	 	16.2.	“Change of Control” means: 

  

	 	(i)	Individuals who constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority 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
Plan, considered as though such person were a member of the Incumbent Board; or 

  

	 	(ii)	Consummation of a reorganization, merger, consolidation, in each case, with respect to which persons who were the shareholders of the Company immediately prior to such
reorganization, merger or consolidation do not, immediately thereafter, own more than fifty percent (50%) of the combined voting power entitled to vote generally in the election of directors of the reorganized, merged or consolidated
company’s then outstanding voting securities, or a liquidation or dissolution of the Company or of the sale of all or substantially all of its assets. 

  

	 	16.3.	“Code” means the Internal Revenue Code of 1986, as amended. 

  

	 	16.4.	“Committee” means the Human Resources Committee of the Board, or its successor, or such other committee of the Board to which the Board delegates power to act under
or pursuant to the provisions of the Plan. 

  

	 	16.5.	“Disability” means the Participant, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be
expected to last for a continuous period of not less than twelve months, is receiving income replacement benefits for a period of not less than three months under the Company’s long term disability plan. 

  

	 	16.6.	“Retirement” means termination of employment from the Company or a Subsidiary on or after the earlier of (i) the Participant attains age 65, or (ii) the
Participant has at least ten years of service and has attained age 55. For purposes of this Plan, years of service shall include any additional years of service provided to a Participant for pension purposes pursuant to the Participant’s
written employment agreement with the Company or its Subsidiaries. 

  

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	 	16.7.	“Stock” means the common stock of the Company, par value $5.00 per share. 

  

	 	16.8.	“Subsidiary” means any corporation, partnership, joint venture or other entity in which the Company owns, directly or indirectly, 25% or more of the voting power or
of the capital interest or profits interest of such entity. 

  

 132Form of Amendment One to Restricted Stock Unit Award Agreement

 Exhibit 10.9 
 AMENDMENT ONE 
 RESTRICTED STOCK UNIT AWARDS 
 CONAGRA 2000 STOCK PLAN 
 ConAgra
Foods, Inc., a Delaware corporation (the “Company”), granted Restricted Share Unit Awards during the period beginning December 1, 2005 and ending September 30, 2006 pursuant to the ConAgra 2000 Stock Plan (the “Plan”)
(the “Awards”). It is desirable to amend each Award so that it complies with Section 409A of the Internal Revenue Code of 1986 as amended from time to time (the “Code”). 
 Each Award is amended by adding the following at the end thereof, effective January 1, 2009: 
 If not issued earlier in accordance with the Award, the Company shall issue to you the number of vested shares of Company Stock represented by the Award
within thirty (30) days after the earlier of your termination of employment or the date of a Change of Control (as defined below). You shall be considered to terminate employment or retire if and only if you have a “Separation from
Service” with the Company within the meaning of Code Section 409A. Generally, you separate from service if and only if you die, retire, or otherwise have 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 you are 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 you retain 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 you will return to perform services for the Company. If the period of leave exceeds six (6) months and you do 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 you to be unable to perform the duties of your
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 you perform services both as an employee and an independent contractor, you 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 you provide services to the Company as an employee and as a member of the Board, and
if any plan in which you participate as a Board member is not aggregated with the Award 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 you
have a separation from service as an employee for purposes of the Award. 
  

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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 you reasonably anticipated that no further services would be performed after a certain date or that the level of bona fide services you 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 you have been providing services to the Company less than thirty six
(36) months). For periods during which you are on a paid bona fide leave of absence and have not otherwise terminated employment as described above, for purposes of this paragraph (iii) you are treated as providing bona fide services at a
level equal to the level of services that you would have been required to perform to receive the compensation paid with respect to such leave of absence. Periods during which you are on an unpaid bona fide leave of absence and have 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). 
 Notwithstanding anything in the Award or Plan to the contrary, “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 definition, 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 any one person, or more than one person acting as a group, acquires (or has acquired during the
preceding 12 months) ownership of stock of the Company possessing 30% or more of the total voting power of the stock of the Company. 
  

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 (d) 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. 
 Notwithstanding anything (including any provision of the Award 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. 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. 
 It is intended that
all compensation and benefits payable or provided to you under the Award 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 you 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 

  

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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. 
 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

  

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 “Exhibit A” 
 CONAGRA FOODS, INC. 
 FORM OF RESTRICTED STOCK UNIT AWARD 
 Terms and Conditions 
  

	 	(i)	Name                             

 On
                            , the ConAgra Foods’ Human Resources Committee approved the grant and
issuance to you of Shares restricted stock units of ConAgra Foods, Inc. common stock (the “Shares”). 
 The Shares will be 100%
vested and issued to you on                              if you remain continuously employed by
ConAgra Foods (the “Company”) until that date. If your employment with the Company terminates, not for cause, prior to that date, vesting of the Shares will be prorated over the vesting period. You will be 34% vested if you are
continuously employed by the Company through the first fiscal year-end date following the grant date                  and 67% vested if you are continuously
employed by the Company through the second fiscal year-end date following the grant date                 , and the vested Shares will be issued to you
accordingly. 
 In the event you are terminated for cause prior to
                            , all Shares will be forfeited. In addition, the Shares will become 100%
vested if any of these events occurs prior to                             : 
  

	 	(1)	you retire from the Company on or after age 65, 

  

	 	(2)	you die while employed by the Company, or 

  

	 	(3)	there is a Change of Control of ConAgra Foods, Inc., as defined in the 2000 Stock Plan. 

 The fair value of the Shares, upon payment, will constitute ordinary income to you, and appropriate arrangements will be made to satisfy federal and state withholding requirements with respect to such tax obligations.

  

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