Document:

Form of Employee Matters Agreement

 Exhibit 10.7 

 
  
 EMPLOYEE MATTERS AGREEMENT 
 between 

KRAFT FOODS INC. 
 and 
 KRAFT FOODS GROUP, INC. 

Dated as of                     , 2012

  
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	1	  
			
	 Section 1.1
	 	Table of Definitions	  	 	1	  
	 Section 1.2
	 	Certain Defined Terms	  	 	2	  
	 Section 1.3
	 	Other Capitalized Terms	  	 	9	  
		
	 ARTICLE II GENERAL PRINCIPLES; EMPLOYEE TRANSFERS
	  	 	9	  
			
	 Section 2.1
	 	SnackCo Group Employee Liabilities	  	 	9	  
	 Section 2.2
	 	GroceryCo Group Employee Liabilities	  	 	9	  
	 Section 2.3
	 	SnackCo Benefit Plans/GroceryCo Benefit Plans	  	 	9	  
	 Section 2.4
	 	Plan-Related Litigation	  	 	10	  
	 Section 2.5
	 	Vacation and Sick Pay	  	 	10	  
	 Section 2.6
	 	Employee Transfers	  	 	10	  
	 Section 2.7
	 	Annual Bonuses	  	 	11	  
	 Section 2.8
	 	Seconded Employees	  	 	11	  
	 Section 2.9
	 	Certain Canadian Matters	  	 	12	  
		
	 ARTICLE III SERVICE CREDIT
	  	 	13	  
			
	 Section 3.1
	 	Service Credit for Employee Transfers	  	 	13	  
	 Section 3.2
	 	SnackCo Benefit Plans	  	 	13	  
	 Section 3.3
	 	GroceryCo Benefit Plans	  	 	13	  
		
	 ARTICLE IV CERTAIN WELFARE BENEFIT PLAN MATTERS
	  	 	14	  
			
	 Section 4.1
	 	SnackCo Retained Welfare Plans	  	 	14	  
	 Section 4.2
	 	SnackCo Spinoff Welfare Plans	  	 	14	  
	 Section 4.3
	 	Continuation of Elections	  	 	14	  
	 Section 4.4
	 	Deductibles and Other Cost-Sharing Provisions	  	 	15	  
	 Section 4.5
	 	Flexible Spending Account Treatment	  	 	15	  
	 Section 4.6
	 	Workers' Compensation	  	 	15	  
		
	 ARTICLE V TAX-QUALIFIED DEFINED BENEFIT PLANS
	  	 	15	  
			
	 Section 5.1
	 	SnackCo Spinoff DB Plans	  	 	15	  
	 Section 5.2
	 	Continuation of Elections	  	 	17	  
		
	 ARTICLE VI U.S. TAX-QUALIFIED DEFINED CONTRIBUTION PLANS
	  	 	17	  
			
	 Section 6.1
	 	SnackCo Retained Defined Contribution Plans	  	 	17	  
	 Section 6.2
	 	SnackCo Spinoff DC Plans	  	 	18	  
	 Section 6.3
	 	Continuation of Elections	  	 	19	  
	 Section 6.4
	 	Contributions Due	  	 	19	  

  
 i 

 TABLE OF CONTENTS 

(Continued) 
  

							
	 	 	 	  	Page	 
		
	ARTICLE VII NONQUALIFIED RETIREMENT PLANS	  	 	20	  
			
	 Section 7.1
	 	SnackCo Retained Nonqualified Plans	  	 	20	  
	 Section 7.2
	 	SnackCo Spinoff Nonqualified Plans	  	 	20	  
	 Section 7.3
	 	General Foods Plan	  	 	22	  
	 Section 7.4
	 	No Distributions on Separation	  	 	22	  
	 Section 7.5
	 	Section 409A	  	 	22	  
	 Section 7.6
	 	Continuation of Elections	  	 	22	  
	 Section 7.7
	 	Delayed Transfer Employees	  	 	22	  
	 Section 7.8
	 	Kraft Foods Inc. Directors’ Plans	  	 	22	  
		
	ARTICLE VIII KRAFT FOODS EQUITY COMPENSATION AWARDS	  	 	23	  
			
	 Section 8.1
	 	Outstanding Kraft Foods Equity Compensation Awards	  	 	23	  
	 Section 8.2
	 	Tax Withholding, Reporting and Deductions	  	 	27	  
	 Section 8.3
	 	Employment Treatment	  	 	28	  
	 Section 8.4
	 	Payment of Option Exercise Prices	  	 	28	  
	 Section 8.5
	 	Dividends/Dividend Equivalents	  	 	29	  
	 Section 8.6
	 	Equity Award Administration	  	 	29	  
	 Section 8.7
	 	Forfeiture-Related Payments	  	 	29	  
	 Section 8.8
	 	Registration	  	 	29	  
	 Section 8.9
	 	Non-Employee Directors' Stock Units	  	 	30	  
		
	ARTICLE IX BENEFIT PLAN REIMBURSEMENTS, BENEFIT PLAN THIRD-PARTY CLAIMS	  	 	31	  
			
	 Section 9.1
	 	General Principles	  	 	31	  
	 Section 9.2
	 	Benefit Plan Third-Party Claims	  	 	31	  
		
	ARTICLE X INDEMNIFICATION	  	 	31	  
			
	 Section 10.1
	 	Indemnification	  	 	31	  
		
	ARTICLE XI COOPERATION	  	 	32	  
			
	 Section 11.1
	 	Cooperation	  	 	32	  

  
 ii 

 TABLE OF CONTENTS 

(Continued) 
  

							
	 	 	 	  	Page	 
		
	 ARTICLE XII MISCELLANEOUS
	  	 	32	  
			
	 Section 12.1
	 	Vendor Contracts	  	 	32	  
	 Section 12.2
	 	Further Assurances	  	 	32	  
	 Section 12.3
	 	Employment Taxes Withholding Reporting Responsibility	  	 	32	  
	 Section 12.4
	 	Data Privacy	  	 	33	  
	 Section 12.5
	 	Third Party Beneficiaries	  	 	33	  
	 Section 12.6
	 	Effect if Distribution Does Not Occur	  	 	33	  
	 Section 12.7
	 	Incorporation of Separation Agreement Provisions	  	 	33	  
	 Section 12.8
	 	No Representation or Warranty	  	 	33	  
		 		  			
		 		  			
		 		  			
		 		  			
		 		  			
	
	 Schedule 2.3: Material SnackCo Benefit Plans
 Schedule 4.1: SnackCo Retained Welfare Plans
 Schedule 4.2: Split Welfare Plans

Schedule 5.1(a): Split DB Plans
 Schedule 5.1(b):
SnackCo Spinoff DB Plans Participating in the SnackCo Master DB Trust
 Schedule 6.2(a): Split DC Plans

Schedule 6.2(b): SnackCo Spinoff DC Plans Participating in the SnackCo Master DC Trust
 Schedule 7.1(a): SnackCo Retained Nonqualified Plans
 Schedule 7.2(a): Split Nonqualified
Plans
 Schedule 7.2(b): SnackCo Spinoff Nonqualified Plans
	   

  
   

  
   

  
   

  
   

  

  
 iii

 EMPLOYEE MATTERS AGREEMENT 

EMPLOYEE MATTERS AGREEMENT, dated as of             , 2012 (this
“Employee Matters Agreement” ), between Kraft Foods Inc., a Virginia corporation (“Kraft Foods Inc.” or “SnackCo”), and Kraft Foods Group, Inc., a Virginia corporation (“GroceryCo”
). 
 RECITALS 
 A. The parties to this Employee Matters Agreement have entered into the Separation and Distribution Agreement (the “Separation Agreement” ), dated as of the date hereof, pursuant to which
Kraft Foods Inc. intends to distribute to its shareholders, on a pro rata basis, all the outstanding shares of common stock, no par value, of GroceryCo then owned by Kraft Foods Inc. (the “Distribution”).  

B. The parties wish to set forth their agreements as to certain matters regarding the treatment of, and the compensation and employee
benefits provided to, current and former employees of SnackCo and GroceryCo and their Subsidiaries. 
 AGREEMENT

 In consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be legally
bound hereby, the parties agree as follows: 
 ARTICLE I 

DEFINITIONS 
 Section 1.1 Table of Definitions. The following terms have the meanings set forth on the pages referenced below: 

 

					
	 Definition
	  	Page	 
	 Affiliate
	  	 	2	  
	 Applicable Transfer Date
	  	 	10	  
	 Benefit Plan
	  	 	3	  
	 Delayed Transfer Employee
	  	 	10	  
	 Employee Matters Agreement
	  	 	1	  
	 Employment Agreement
	  	 	3	  
	 ERISA
	  	 	3	  
	 Estimated Retirement Plan Transfer Amount
	  	 	16	  
	 Fair Value
	  	 	3	  
	 Final Nonqualified Plan Transfer Amount
	  	 	21	  
	 Final Nonqualified Plan Transfer Date
	  	 	21	  
	 Final Retirement Plan Transfer Amount
	  	 	16	  
	 Final Transfer Date
	  	 	16	  

 

					
	 Definition
	  	Page	 
	 Former Cadbury Employee
	  	 	3	  
	 Former GroceryCo Business Employee
	  	 	4	  
	 Former SnackCo Business Employee
	  	 	4	  
	 GroceryCo
	  	 	1	  
	 GroceryCo Benefit Plan
	  	 	4	  
	 GroceryCo Common Stock
	  	 	4	  
	 GroceryCo Deferred Stock Unit
	  	 	4	  
	 GroceryCo Director
	  	 	30	  
	 GroceryCo Employee
	  	 	4	  
	 GroceryCo Employment Agreement
	  	 	5	  
	 GroceryCo Equity Compensation Award
	  	 	5	  
	 GroceryCo Master DB Trust
	  	 	16	  
	 GroceryCo Option
	  	 	5	  

 
 

 

					
	 GroceryCo Performance Incentive Plans
	  	 	5	  
	 GroceryCo Performance Share
	  	 	5	  
	 GroceryCo Price
	  	 	5	  
	 GroceryCo Rabbi Trusts
	  	 	21	  
	 GroceryCo Restricted Share
	  	 	5	  
	 GroceryCo SAR
	  	 	5	  
	 GroceryCo Seconded Employees
	  	 	11	  
	 GroceryCo Spinoff Welfare Plans
	  	 	14	  
	 GroceryCo Transferees
	  	 	11	  
	 GroceryCo Welfare Plan
	  	 	5	  
	 Initial Nonqualified Plan Transfer Amount
	  	 	21	  
	 Intrinsic Value
	  	 	5	  
	 Kraft Foods Common Stock
	  	 	6	  
	 Kraft Foods Deferred Stock Unit
	  	 	6	  
	 Kraft Foods Director Plans
	  	 	22	  
	 Kraft Foods Equity Compensation Award
	  	 	6	  
	 Kraft Foods Inc.
	  	 	1	  
	 Kraft Foods Option
	  	 	6	  
	 Kraft Foods Performance Incentive Plans
	  	 	6	  
	 Kraft Foods Performance Share
	  	 	6	  
	 Kraft Foods Pre-Adjustment Price
	  	 	6	  
	 Kraft Foods Restricted Share
	  	 	6	  
	 Kraft Foods SAR
	  	 	6	  
	 Liabilities
	  	 	6	  
	 Nonqualified Plan True-Up Amount
	  	 	21	  
	 Option Conversion Ratio
	  	 	7	  
	 Original Group
	  	 	13	  
	 Plan Payee
	  	 	7	  
	 Puerto Rico Savings Plans
	  	 	18	  
	 Seconded Employees
	  	 	11	  
	 Separation Agreement
	  	 	1	  
	 SnackCo
	  	 	1	  

					
	 SnackCo Benefit Plans
	  	 	7	  
	 SnackCo Common Stock
	  	 	7	  
	 SnackCo Deferred Stock Unit
	  	 	7	  
	 SnackCo Director
	  	 	30	  
	 SnackCo Employee
	  	 	7	  
	 SnackCo Employment Agreement
	  	 	7	  
	 SnackCo Equity Compensation Award
	  	 	7	  
	 SnackCo Master DB Trust
	  	 	16	  
	 SnackCo Master DC Trust
	  	 	18	  
	 SnackCo Option
	  	 	8	  
	 SnackCo Performance Share
	  	 	8	  
	 SnackCo Price
	  	 	8	  
	 SnackCo Restricted Share
	  	 	8	  
	 SnackCo Retained Benefit Plan
	  	 	8	  
	 SnackCo Retained Nonqualified Plans
	  	 	20	  
	 SnackCo Retained Welfare Plans
	  	 	14	  
	 SnackCo SAR
	  	 	8	  
	 SnackCo Seconded Employees
	  	 	11	  
	 SnackCo Spinoff DB Plans
	  	 	15	  
	 SnackCo Spinoff DC Plans
	  	 	18	  
	 SnackCo Spinoff Nonqualified Plans
	  	 	20	  
	 SnackCo Spinoff Plans
	  	 	8	  
	 SnackCo Transferees
	  	 	11	  
	 SnackCo Welfare Plan
	  	 	8	  
	 Split DB Plans
	  	 	15	  
	 Split DC Plans
	  	 	18	  
	 Split Nonqualified Plans
	  	 	20	  
	 Split Plans
	  	 	8	  
	 Split Welfare Plans
	  	 	14	  
	 Temporary Employment Period
	  	 	11	  
	 Transferee Group
	  	 	13	  
	 True-Up Amount
	  	 	16	  
	 Vendor Contract
	  	 	32	  
	 Welfare Plan
	  	 	8	  
	 Workers’ Compensation Event
	  	 	9	  

 
 

  
 Section 1.2
Certain Defined Terms. For the purposes of this Employee Matters Agreement: 
 “Affiliate” of any Person
means a Person that controls, is controlled by, or is under common control with such Person; provided, however, that for purposes of this Employee Matters Agreement, from and after the Distribution, none of the SnackCo Entities shall be deemed to be
an Affiliate of any GroceryCo Entity and none of the 

  
 2 

 
GroceryCo Entities shall be deemed to be an Affiliate of any SnackCo Entity. As used in this definition of “Affiliate,” “control” means the possession, directly or indirectly,
of the power to direct or cause the direction of the management and policies of such entity, whether through ownership of voting securities or other interests, by contract or otherwise. 

“Benefit Plan” means, with respect to an entity, each plan, program, policy, agreement, arrangement or understanding that
is maintained primarily for the benefit of employees in the United States or Puerto Rico and is a deferred compensation, executive compensation, incentive bonus or other bonus, pension, profit sharing, savings, retirement, severance pay, salary
continuation, life, death benefit, health, hospitalization, sick leave, vacation pay, disability or accident insurance or other employee benefit plan, program, agreement or arrangement, including any “employee benefit plan” (as defined in
Section 3(3) of ERISA) sponsored, maintained or contributed to by such entity or to which such entity is a party or under which such entity has any obligation; provided that no Kraft Foods Equity Compensation Award, nor any plan under which any
such Kraft Foods Equity Compensation Award is granted, shall constitute a “Benefit Plan” under this Employee Matters Agreement. In addition, no Employment Agreement shall constitute a Benefit Plan for purposes hereof. 

“Distribution Date” means the date, determined by the Kraft Foods Inc. Board of Directors, on which the Distribution
occurs. 
 “Distribution Ratio” means the number of shares of GroceryCo Common Stock to be distributed in
respect of each share of Kraft Foods Common Stock in the Distribution, which ratio shall be determined by the Kraft Foods Inc. Board of Directors prior to the Record Date. 
 “Employment Agreement” means any individual employment, retention, consulting, change in control, split dollar life insurance, sale bonus, incentive bonus, severance or other individual
compensatory agreement between any current or former employee and Kraft Foods Inc. or any of its Affiliates. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

“Fair Value” means, in the case of GroceryCo Options and SnackCo Options, the anticipated value of the options,
determined using the Modified Black-Scholes option pricing model used by Kraft Foods Inc. in the preparation of its most recent annual or quarterly financial reporting prepared before the Distribution Date with such modifications as may be
determined before the Distribution Date by Kraft Foods Inc. 
 “Former Cadbury Employee” means any individual
who (i) was employed by Cadbury Limited (formerly Cadbury plc) or an Affiliate of Cadbury Limited prior to the acquisition by Kraft Foods Inc. of the outstanding ordinary shares of Cadbury Limited and (ii) terminated employment with Kraft
Foods Inc. and its Affiliates (or the predecessors thereof, including Cadbury Limited and its Affiliates) prior to the close of business on the Distribution Date. 

  
 3 

 “Former GroceryCo Business Employee” means any individual who
(i) before the close of business on the Distribution Date retired or otherwise separated from service from Kraft Foods Inc. and its Affiliates, and (ii) is not a Former SnackCo Business Employee or a Former Cadbury Employee; provided,
however, that any individual who otherwise would be treated as a Former SnackCo Business Employee hereunder shall be treated as a Former GroceryCo Business Employee if such individual is receiving or is eligible to commence receiving severance
benefits from Kraft Foods Inc. or an Affiliate immediately prior to the Distribution Date. 
 “Former SnackCo Business
Employee” means any individual (i) who before the close of business on the Distribution Date retired or otherwise separated from service from Kraft Foods Inc. and its Affiliates, and (ii) whose last day worked with Kraft Foods
Inc. and its Affiliates prior to the close of business on the Distribution Date was with (A) the SnackCo Business or (B) SnackCo or any Person that will be a direct or indirect Subsidiary of SnackCo immediately after the Distribution.
However, any individual who otherwise would be treated as a Former SnackCo Business Employee hereunder shall be treated as a Former GroceryCo Business Employee if such individual is receiving or is eligible to commence receiving severance benefits
from Kraft Foods Inc. or an Affiliate immediately prior to the Distribution Date. Except as specifically provided herein, and notwithstanding the immediately-preceding sentence, each Former Cadbury Employee shall also be treated as a Former SnackCo
Business Employee. 
 “GroceryCo Benefit Plan” means any Benefit Plan sponsored or maintained by any member of
the GroceryCo Group. GroceryCo Benefit Plan shall also mean any multiemployer plan (as defined in Section 3(37) of ERISA) to which any member of the GroceryCo Group contributes for the benefit of its employees. For the avoidance of doubt, no
member of the GroceryCo Group shall be deemed to sponsor or maintain any Benefit Plan if its relationship to such Benefit Plan is solely to administer such Benefit Plan or provide to SnackCo any reimbursement in respect of such Benefit Plan. The
GroceryCo Benefit Plans (excluding any multiemployer plans) shall be those Benefit Plans sponsored solely by one or more members of the GroceryCo Group following the Distribution Date. For the avoidance of doubt, no Benefit Plan sponsored or
maintained by Kraft Foods Inc. or its Affiliates outside the United States (including its territories) and Canada as of the Distribution Date shall be a GroceryCo Benefit Plan, and the GroceryCo Group shall have no liability with respect to any such
Benefit Plan. 
 “GroceryCo Common Stock” means the common stock, no par value, of GroceryCo. 

“GroceryCo Deferred Stock Unit” means a deferred stock obligation relating to GroceryCo Common Stock granted by GroceryCo
as of the Distribution Date under a GroceryCo Performance Incentive Plan pursuant to Section 8.1(a)(ii)(B). 

“GroceryCo Employee” means each individual who, as of the close of business on the Distribution Date, is employed by a
member of the GroceryCo Group (including, for the avoidance of doubt, any such individual who is on a leave of absence, whether paid or unpaid, from which such employee is permitted to return (in accordance with GroceryCo’s personnel
policies)). GroceryCo Employees also include GroceryCo Transferees, effective as of the Applicable Transfer Date. 

  
 4 

 “GroceryCo Employment Agreement” means any Employment Agreement to which
any member of the GroceryCo Group is a party. The GroceryCo Employment Agreements shall be the responsibility of one or more members of the GroceryCo Group following the Distribution Date. 

“GroceryCo Equity Compensation Award” means each GroceryCo Option, GroceryCo SAR, GroceryCo Performance Share, GroceryCo
Restricted Share or GroceryCo Deferred Stock Unit. 
 “GroceryCo Option” means an option to acquire GroceryCo
Common Stock granted by GroceryCo as of the Distribution Date under a GroceryCo Performance Incentive Plan pursuant to Section 8.1(a)(i)(B). 
 “GroceryCo Performance Incentive Plans” means the Kraft Foods Group, Inc. 2012 Performance Incentive Plan and any stock-based or other incentive plan identified by GroceryCo before the
Distribution Date. 
 “GroceryCo Performance Share” means performance-based awards of shares of GroceryCo Common
Stock granted by GroceryCo as of the Distribution Date under a GroceryCo Performance Incentive Plan pursuant to Section 8.1(a)(iii)(A). 
 “GroceryCo Price” means the Kraft Foods Pre-Adjustment Price multiplied by a fraction, (a) the numerator of which is the closing price of GroceryCo Common Stock on the NASDAQ Global
Select Market on the Distribution Date (as traded on the “when issued” market) and (b) the denominator of which is the sum of the numerator multiplied by the Distribution Ratio plus the closing price of SnackCo Common Stock on the
NASDAQ Global Select Market on the Distribution Date (as traded on the “when issued” market). 
 “GroceryCo
Restricted Share” means a share of restricted common stock relating to GroceryCo Common Stock granted by GroceryCo as of the Distribution Date under a GroceryCo Performance Incentive Plan pursuant to Section 8.1(a)(ii)(A). 

“GroceryCo SAR” means a cash-settled stock appreciation right based on the value of GroceryCo Common Stock granted by
GroceryCo as of the Distribution Date under a GroceryCo Performance Incentive Plan pursuant to Section 8.1(a)(i)(B). 

“GroceryCo Welfare Plan” means each GroceryCo Benefit Plan that is a Welfare Plan. 

“Intrinsic Value” means, with respect to each stock option and stock appreciation right, (i) the number of such
options or stock appreciation rights, multiplied by (ii) the difference between the exercise price of such options or stock appreciation rights and (A) for Kraft Foods Options and Kraft Foods SARs, the Kraft Foods Pre-Adjustment Price,
(B) for SnackCo Options/SARs, the SnackCo Price, and (C) for GroceryCo Options/SARs, the GroceryCo Price. 

  
 5 

 “Kraft Foods Common Stock” means the Class A common stock, no par
value, of Kraft Foods Inc. 
 “Kraft Foods Deferred Stock Unit” means a deferred stock obligation relating to
Kraft Foods Common Stock granted by Kraft Foods Inc. under a Kraft Foods Performance Incentive Plan before the Distribution Date. 
 “Kraft Foods Equity Compensation Award” means each Kraft Foods Option, Kraft Foods SAR, Kraft Foods Performance Share, Kraft Foods Restricted Share or Kraft Foods Deferred Stock Unit.

 “Kraft Foods Option” means an option to acquire Kraft Foods Common Stock granted by Kraft Foods Inc. under a
Kraft Foods Performance Incentive Plan before the Distribution Date. 
 “Kraft Foods Performance Incentive
Plans” means any of the Kraft Foods Inc. 2001 Performance Incentive Plan, the Kraft Foods Inc. 2005 Performance Incentive Plan, the Kraft Foods Inc. Amended and Restated 2005 Performance Incentive Plan, the Kraft Foods Inc. 2001
Compensation Plan for Non-Employee Directors, the Kraft Foods Inc. 2006 Stock Compensation Plan for Non-Employee Directors, the Kraft Foods Inc. Amended and Restated 2006 Stock Compensation Plan for Non-Employee Directors and any stock-based or
other incentive plan identified by Kraft Foods Inc. before the Distribution Date. 
 “Kraft Foods Performance
Share” means performance-based awards of shares of Kraft Foods Common Stock granted by Kraft Foods Inc. under a Kraft Foods Performance Incentive Plan before the Distribution Date. 

“Kraft Foods Pre-Adjustment Price” means the closing price of Kraft Foods Common Stock on the NASDAQ Global Select Market
on the Distribution Date (as traded on the “regular way” market). 
 “Kraft Foods Restricted Share”
means a share of restricted common stock granted by Kraft Foods Inc. under a Kraft Foods Performance Incentive Plan before the Distribution Date. 
 “Kraft Foods SAR” means a cash-settled stock appreciation right based on the value of Kraft Foods Common Stock granted by Kraft Foods Inc. under a Kraft Foods Performance Incentive Plan
before the Distribution Date. 
 “Liabilities” means any and all losses, claims, charges, debts, demands,
Actions, damages, obligations, payments, costs and expenses, sums of money, bonds, indemnities and similar obligations, penalties, covenants, contracts, controversies, agreements, promises, omissions, guarantees, make whole agreements and similar
obligations, and other liabilities, including all contractual obligations, whether absolute or 

  
 6 

 
contingent, inchoate or otherwise, matured or unmatured, liquidated or unliquidated, accrued or unaccrued, known or unknown, whenever arising, and including those arising under any Law, Action,
threatened or contemplated Action (including the costs and expenses of demands, assessments, judgments, settlements and compromises relating thereto and attorneys’ fees and any and all costs and expenses (including allocated costs of in-house
counsel and other personnel), whatsoever incurred in investigating, preparing or defending against any such Actions or threatened or contemplated Actions), order or consent decree of any Governmental Authority or any award of any arbitrator of any
kind, and those arising under any contract, commitment or undertaking, including those arising under this Employee Matters Agreement or incurred by a party hereto or thereto in connection with enforcing its rights to indemnification hereunder, in
each case, whether or not recorded or reflected or required to be recorded or reflected on the books and records or financial statements of any Person. 
 “Option Conversion Ratio” means the ratio of the pre-adjustment exercise price of the applicable Kraft Foods Option or Kraft Foods SAR to the Kraft Foods Pre-Adjustment Price. 

“Plan Payee” means, as to an individual who participates in a Benefit Plan, such individual’s dependents,
beneficiaries, alternate payees and alternate recipients, as applicable under such Benefit Plan. 
 “SnackCo Benefit
Plans” means the SnackCo Retained Benefit Plans and the SnackCo Spinoff Plans. 
 “SnackCo Common
Stock” means the Class A common stock, no par value, of SnackCo. 
 “SnackCo Deferred Stock Unit”
means a deferred stock obligation relating to SnackCo Common Stock relating to a Kraft Foods Deferred Stock Unit described in Section 8.1(a)(ii)(B). 
 “SnackCo Employee” means each individual who, as of the close of business on the Distribution Date, is employed by a member of the SnackCo Group (including, for the avoidance of doubt,
any such individual who is on a leave of absence, whether paid or unpaid, from which such employee is permitted to return (in accordance with SnackCo’s personnel policies)). SnackCo Employees also include SnackCo Transferees, effective as of
the Applicable Transfer Date. 
 “SnackCo Employment Agreement” means any Employment Agreement to which any
member of the SnackCo Group is a party and to which no member of the GroceryCo Group is a party. The SnackCo Employment Agreements shall be the sole responsibility of one or more members of the SnackCo Group following the Distribution Date.

 “SnackCo Equity Compensation Award” means each SnackCo Option, SnackCo SAR, SnackCo Performance Share,
SnackCo Restricted Share or SnackCo Deferred Stock Unit. 

  
 7 

 “SnackCo Option” means an option to acquire SnackCo Common Stock relating
to a Kraft Foods Option described in Section 8.1(a)(i)(A). 
 “SnackCo Performance Share” means performance
shares of SnackCo Common Stock granted by SnackCo as of the Distribution Date under a SnackCo Performance Incentive Plan pursuant to Section 8.1(a)(iii)(B). 
 “SnackCo Price” means the Kraft Foods Pre-Adjustment Price multiplied by a fraction, (a) the numerator of which is the closing price of SnackCo Common Stock on the NASDAQ Global
Select Market on the Distribution Date (as traded on the “when issued” market) and (b) the denominator of which is (i) the numerator plus (ii) the closing price of GroceryCo Common Stock on the NASDAQ Global Select Market on
the Distribution Date (as traded on the “when issued” market) multiplied by the Distribution Ratio. 
 “SnackCo
Restricted Share” means a share of restricted common stock with respect to SnackCo Common Stock relating to Kraft Foods Restricted Shares pursuant to Section 8.1(a)(ii)(A). 

“SnackCo Retained Benefit Plan” means any Benefit Plan that, as of the close of business on the day before the
Distribution Date, is sponsored or maintained solely by any member of the SnackCo Group. SnackCo Retained Benefit Plan shall also mean any multiemployer plan (as defined in Section 3(37) of ERISA) to which any member of the SnackCo Group
contributes for the benefit of its employees. For the avoidance of doubt, no member of the SnackCo Group shall be deemed to sponsor or maintain any Benefit Plan if its relationship to such Benefit Plan is solely to administer such Benefit Plan or
provide to GroceryCo any reimbursement in respect of such Benefit Plan. The SnackCo Retained Benefit Plans (excluding any multiemployer plans) shall be sponsored solely by one or more members of the SnackCo Group following the Distribution Date.

 “SnackCo SAR” means a cash-settled stock appreciation right with respect to SnackCo Common Stock relating to
a Kraft Foods SAR described in Section 8.1(a)(i)(A). 
 “SnackCo Spinoff Plans” means the SnackCo Spinoff
DB Plans, SnackCo Spinoff DC Plans, SnackCo Spinoff Nonqualified Plans and SnackCo Spinoff Welfare Plans. 
 “SnackCo
Welfare Plan” means each SnackCo Benefit Plan that is a Welfare Plan. 
 “Split Plans” means the Split
Welfare Plans, Split DB Plans, Split DC Plans and Split Nonqualified Plans. 
 “Welfare Plan” means each Benefit
Plan that provides life insurance, health care, dental care, vision care, employee assistance programs (EAP), accidental death and dismemberment insurance, disability, severance, vacation or other group welfare or fringe benefits and is an
“employee welfare benefit plan” as described in Section 3(1) of ERISA. 

  
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 “Workers’ Compensation Event” means the event, injury, illness or
condition giving rise to a workers’ compensation claim. 
 Section 1.3 Other Capitalized Terms. Capitalized terms
not defined in this Employee Matters Agreement shall have the meanings ascribed to them in the Separation Agreement. 

ARTICLE II 

GENERAL PRINCIPLES; EMPLOYEE TRANSFERS 
 Section 2.1 SnackCo Group Employee Liabilities. Except as specifically provided in this Employee Matters Agreement, the SnackCo Group shall be solely responsible for (i) all employment,
compensation and employee benefits Liabilities relating to SnackCo Employees and Former SnackCo Business Employees, (ii) all Liabilities arising under each SnackCo Benefit Plan and SnackCo Employment Agreement, (iii) except with respect to
matters covered by Article VIII hereof, all Liabilities arising before the Distribution Date with respect to employment outside the United States (including its territories) and Canada by current or former employees of Kraft Foods Inc. and its
Affiliates, and (iv) all Liabilities with respect to Benefit Plans maintained outside the United States (including its territories) and Canada (and the GroceryCo Group shall not retain or assume sponsorship of any such Benefit Plan).

 Section 2.2 GroceryCo Group Employee Liabilities. Except as specifically provided in this Employee Matters Agreement,
the GroceryCo Group shall be solely responsible for (i) all employment, compensation and employee benefits Liabilities relating to GroceryCo Employees and Former GroceryCo Business Employees, (ii) all Liabilities arising under each
GroceryCo Benefit Plan and GroceryCo Employment Agreement, and (iii) such obligations as are assigned to the GroceryCo Group pursuant to Article VIII hereof. 
 Section 2.3 SnackCo Benefit Plans/GroceryCo Benefit Plans. 
 (a) Schedule
2.3 sets forth a complete list of all material SnackCo Benefit Plans. Effective immediately prior to the Distribution, SnackCo or another member of the SnackCo Group shall, as applicable in accordance with this Employee Matters Agreement, adopt,
continue or, to the extent necessary, assume sponsorship of each SnackCo Benefit Plan, and the GroceryCo Group shall use reasonable efforts to transfer or cause to be transferred to SnackCo all plan documents, trust agreements, insurance policies,
administrative agreements, and other agreements and instruments reasonably required for the maintenance and administration of the SnackCo Benefit Plans. To facilitate SnackCo’s establishment of the SnackCo Spinoff Plans, GroceryCo shall, prior
to the Distribution, provide SnackCo with draft plan documents of the SnackCo Spinoff Plans for SnackCo’s review and consideration, but such plan documents shall ultimately be the responsibility of SnackCo.

  
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 (b) Effective as of the Distribution, the SnackCo Group shall be exclusively responsible for
administering each SnackCo Benefit Plan in accordance with its terms and for all obligations and liabilities with respect to the SnackCo Benefit Plans and all benefits owed to participants in the SnackCo Benefit Plans, whether arising before, on or
after the Distribution Date. Except as specifically provided herein, SnackCo shall not assume sponsorship, maintenance or administration of any Benefit Plan that is not a SnackCo Benefit Plan or receive or assume any assets or liabilities in
connection with any such Benefit Plan. 
 (c) Effective as of the Distribution, the GroceryCo Group shall be exclusively
responsible for administering each GroceryCo Benefit Plan in accordance with its terms and for all obligations and liabilities with respect to the GroceryCo Benefit Plans and all benefits owed to participants in the GroceryCo Benefit Plans, whether
arising before, on or after the Distribution Date. 
 Section 2.4 Plan-Related Litigation. Notwithstanding anything
herein to the contrary, the management of the defense of all litigation related to the GroceryCo Benefit Plans and the SnackCo Benefit Plans shall be governed by Article VI of the Separation Agreement, and this Employee Matters Agreement shall
govern the allocation of Liabilities related to any such litigation. 
 Section 2.5 Vacation and Sick Pay. The SnackCo
Group shall assume responsibility for accrued vacation and sick pay and any other paid time off attributable to SnackCo Employees and Former SnackCo Business Employees (i.e., with respect to Former SnackCo Business Employees, for vacation,
sick pay and other paid time off that has been accrued but not cashed out) as of the Distribution Date, or Applicable Transfer Date. The GroceryCo Group shall assume responsibility for accrued vacation and sick pay and any other paid time off
attributable to GroceryCo Employees and Former GroceryCo Business Employees (i.e., with respect to Former GroceryCo Business Employees, for vacation, sick pay and other paid time off that has been accrued but not cashed out) as of the
Distribution Date, or Applicable Transfer Date. 
 Section 2.6 Employee Transfers. Upon mutual agreement of GroceryCo and
SnackCo, any employee whose employment transfers within 90 days after the Distribution Date from the SnackCo Group to the GroceryCo Group or from the GroceryCo Group to the SnackCo Group because they were inadvertently and erroneously treated as
employed by the wrong employer on the Distribution Date, and who was continuously employed by a member of the GroceryCo Group or the SnackCo Group (as applicable) from the Distribution Date through the date such employee commences active employment
with a member of the SnackCo Group or GroceryCo Group (as applicable) shall be a “Delayed Transfer Employee .” For purposes of this Employee Matters Agreement, the date on which a Delayed Transfer Employee actually commences
employment with the GroceryCo Group or the SnackCo Group (as applicable) is referred to as such individual’s “Applicable Transfer Date” and such Applicable Transfer Date shall, except as expressly provided herein and in
compliance with Law applicable to the Employee Plans, be treated as the Distribution Date for Delayed Transfer Employees where the Distribution Date is referenced in this Employee Matters Agreement. Notwithstanding anything herein to the contrary,
the mutual agreement with respect to, and Applicable Transfer Date of, any Delayed Transfer Employee must occur on or before 90 days after the Distribution Date. 

  
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For purposes of this Employee Matters Agreement, Delayed Transfer Employees who transfer from the SnackCo Group to the GroceryCo Group are referred to as “GroceryCo Transferees”
and Delayed Transfer Employees who transfer from the GroceryCo Group to the SnackCo Group are referred to as “SnackCo Transferees”. 
 Section 2.7 Annual Bonuses. The SnackCo Group shall be solely responsible for all annual bonuses earned by SnackCo Employees and Former SnackCo Business Employees (i.e., for accrued but
unpaid bonuses for Former SnackCo Business Employees) with respect to periods ending on or after January 1, 2012. The GroceryCo Group shall be solely responsible for all annual bonuses earned by GroceryCo Employees and Former GroceryCo
Business Employees (i.e., for accrued but unpaid bonuses for Former GroceryCo Business Employees) with respect to periods ending on or after January 1, 2012.
 Section 2.8 Seconded Employees. 
 (a) Prior to the Distribution Date, the
parties shall mutually agree to, and identify, the (i) employees the parties intend will ultimately be employed by the SnackCo Group but who will be seconded to the GroceryCo Group immediately following the Distribution Date (“SnackCo
Seconded Employees”) and (ii) employees the parties intend will ultimately be employed by the GroceryCo Group but who will be seconded to the SnackCo Group immediately following the Distribution Date (“GroceryCo Seconded
Employees” and, collectively with the SnackCo Seconded Employees, the “Seconded Employees”). The period during which a GroceryCo Seconded Employee is performing services for SnackCo or a SnackCo Seconded Employee is
performing services for GroceryCo is referred to herein as the “Temporary Employment Period”. The Temporary Employment Period is intended to be a short-term assignment and shall not exceed two (2) years following the
Distribution Date or such shorter time as agreed by the parties with respect to a particular Seconded Employee. 
 (b) During
the Temporary Employment Period, with respect to Seconded Employees, except as provided in Section 2.8(c), (i) GroceryCo Seconded Employees shall receive base salary, bonuses, incentive awards, employee benefits and other terms and
conditions of employment substantially similar to those of GroceryCo Employees at a similar level and GroceryCo shall be solely responsible for all employment taxes with respect to the GroceryCo Seconded Employees, and (ii) SnackCo Seconded
Employees shall receive base salary, bonuses, incentive awards, employee benefits and other terms and conditions of employment substantially similar to those of SnackCo Employees at a similar level and SnackCo shall be solely responsible for all
employment taxes with respect to the SnackCo Seconded Employees. GroceryCo shall provide SnackCo a monthly invoice detailing the cash compensation, direct cost of employee benefits, and employment taxes paid with respect to the GroceryCo Seconded
Employees it employed during the month, and SnackCo shall reimburse GroceryCo for such amounts within sixty (60) days following receipt of such invoice. SnackCo shall provide GroceryCo a monthly invoice detailing the cash compensation, direct
cost of employee benefits, and employment taxes paid with respect to the SnackCo Seconded Employees it employed during the month, and GroceryCo shall reimburse SnackCo for such amounts within sixty (60) days following receipt of such invoice.
Equity incentive awards, if any, shall be provided by GroceryCo to GroceryCo Seconded Employees and by SnackCo to SnackCo Seconded Employees. 

  
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 (c) During the Temporary Employment Period, SnackCo Seconded Employees who are not United
States citizens or residents will remain on the payroll systems of their home countries and receive base salary, bonuses, employee benefits and other terms and conditions substantially similar to those of employees employed by the same entity at a
similar level in their home countries. SnackCo shall provide GroceryCo a monthly invoice detailing the cash compensation, direct cost of employee benefits, and employment taxes paid with respect to such SnackCo Seconded Employees it employed during
the month, and GroceryCo shall reimburse SnackCo for such amounts within sixty (60) days following receipt of such invoice. 

(d) Immediately following the end of the applicable Temporary Employment Period, the GroceryCo Group shall return each GroceryCo Seconded
Employee and the SnackCo Group shall return each SnackCo Seconded Employee to a position, in each case with substantially similar terms and conditions of employment as for similarly-situated employees of the GroceryCo Group or the SnackCo Group,
respectively. In the event that the GroceryCo Group offers employment to a SnackCo Seconded Employee or the SnackCo Group offers employment to a GroceryCo Seconded Employee immediately following the end of the applicable Temporary Employment Period,
each such employee shall be treated as a newly hired employee of the GroceryCo Group or the SnackCo Group, respectively, for Benefit Plan purposes. 
 Section 2.9 Certain Canadian Matters. Mondelez Canada Inc. and Kraft Canada Inc. have entered into the Canadian Asset Transfer Agreement addressing the parties’ respective rights and
obligations with respect to certain of the matters addressed in this Employee Matters Agreement. Notwithstanding any other provision of this Employee Matters Agreement to the contrary, (a) Article 6 of the Canadian Asset Transfer Agreement
between Mondelez Canada Inc. and Kraft Canada Inc. made as of                         , 2012 shall govern the treatment of
Canadian pension and benefits matters in lieu of Articles IV through VII hereof, and (b) nothing in this Employee Matters Agreement shall effect, constitute or change the timing of (i) any transfer, assignment, conveyance or other
disposition of, or any amendment, modification, supplement or other change of or to, any right, title, interest or benefits in any Assets owned or held by Kraft Canada Inc., Mondelez Canada Inc., any of their direct or indirect Subsidiaries
(including partnerships), or any trust or plan settled or established by any of the foregoing, or (ii) any transfer, assumption, forgiveness or release of, or any amendment, modification, supplement or other change of or to, any Liabilities of
Kraft Canada Inc., Mondelez Canada Inc., any of their direct or indirect Subsidiaries (including partnerships), or any trust or plan settled or established by any of the foregoing. 

  
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 ARTICLE III 
 SERVICE CREDIT 
 Section 3.1 Service Credit for Employee Transfers.
The Benefit Plans shall provide the following service crediting rules effective as of the Distribution Date: 
 (a) If a Delayed
Transfer Employee becomes employed by a member of the SnackCo Group or GroceryCo Group on or before 90 days after the Distribution then such Delayed Transfer Employee’s service with the GroceryCo Group or the SnackCo Group (as applicable)
following the Distribution shall be recognized for purposes of eligibility, vesting and pension credit under the appropriate SnackCo Benefit Plans or GroceryCo Benefit Plans as appropriate, subject to the terms of those plans. 

(b) If a former employee of the GroceryCo Group or the SnackCo Group (such Group, the “Original Group”) (whether or not
a Delayed Transfer Employee) becomes employed by a member of the other Group (such Group, the “Transferee Group” ) either (i) later than 90 days after the Distribution or (ii) without having been continuously employed by a
member of the Original Group from the Distribution through the date such former employee commences active employment with a member of the Transferee Group, then the Benefit Plans of the Transferee Group shall only recognize for any purpose such
individual’s service with the Original Group before or after the Distribution to the extent required by Law or provided under the terms of the applicable Benefit Plan. If a former employee is rehired by his or her Original Group, then all such
individual’s service shall be recognized by the Benefit Plans of the Original Group to the extent required by Law or provided by the terms of the applicable Benefit Plan. 
 Section 3.2 SnackCo Benefit Plans (a). Subject to Section 3.1, from and after the Distribution Date, or Applicable Transfer Date, SnackCo shall, and shall cause its Affiliates and successors
to, provide credit under the SnackCo Benefit Plans to GroceryCo Employees who become employees of the SnackCo Group for their pre-Distribution (or, as applicable, pre-Applicable Transfer Date) service with GroceryCo and its predecessors and
Affiliates (including Kraft Foods Inc. and any of its Affiliates, the GroceryCo Group, and the SnackCo Group) for purposes of determining eligibility for vacation/paid time-off, 5-year bonus week of paid time-off, service awards (for hourly
employees) and short-term disability benefits consistent with the policies of Kraft Foods Inc. as of the date of this Employee Matters Agreement; provided, however, that service shall not be recognized to the extent that such
recognition would result in the duplication of benefits. 
 Section 3.3 GroceryCo Benefit Plans. Subject to
Section 3.1, from and after the Distribution Date, or Applicable Transfer Date, GroceryCo shall, and shall cause its Affiliates and successors to, provide credit under the GroceryCo Benefit Plans to SnackCo Employees who become employees of the
GroceryCo Group for their pre-Distribution (or, as applicable, pre-Applicable Transfer Date) service with SnackCo and its predecessors and Affiliates (including Kraft Foods Inc. and any of its Affiliates, the GroceryCo Group, and the SnackCo Group)
for purposes of determining eligibility for vacation/paid time-off, 5-year bonus week of paid time-off, service awards (for hourly employees) and short-term disability benefits consistent with the policies of Kraft Foods Inc. as of the date of this
Employee Matters Agreement; provided, however, that service shall not be recognized to the extent that such recognition would result in the duplication of benefits. 

  
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 ARTICLE IV 
 CERTAIN WELFARE BENEFIT PLAN MATTERS 
 Section 4.1 SnackCo Retained
Welfare Plans. SnackCo shall cause a member of the SnackCo Group to retain, or to the extent necessary, assume sponsorship of, the Welfare Plans listed on Schedule 4.1 (the “SnackCo Retained Welfare Plans” ) and take all
necessary actions to continue contributions to the SnackCo Retained Benefit Plans that are multiemployer Welfare Plans. To the extent necessary, prior to the Distribution, SnackCo shall cause a member of the SnackCo Group to assume sponsorship of
the SnackCo Retained Welfare Plans. GroceryCo shall use reasonable efforts to transfer or cause to be transferred to a member of the SnackCo Group all plan documents, trust agreements, insurance policies, administrative agreements and other
agreements and instruments in the possession of the members of the GroceryCo Group that are reasonably required for the maintenance and administration of the SnackCo Retained Welfare Plans. From and after the Distribution Date, the SnackCo Group
shall be exclusively responsible for all obligations and liabilities with respect to the SnackCo Retained Welfare Plans, and all benefits owed to participants in the SnackCo Retained Welfare Plans, whether accrued before, on or after the
Distribution Date. 
 Section 4.2 SnackCo Spinoff Welfare Plans. Effective not later than the Distribution, SnackCo or a
member of the SnackCo Group shall establish certain welfare benefit plans (such plans, the “SnackCo Spinoff Welfare Plans” ). Each SnackCo Spinoff Welfare Plan shall have terms and features (including benefit coverage options and
employer contribution provisions) that are substantially identical to one of the Benefit Plans listed on Schedule 4.2 (such Benefit Plans, the “Split Welfare Plans” ) such that (for the avoidance of doubt) each Split Welfare
Plan is substantially replicated by a SnackCo Spinoff Welfare Plan. Each SnackCo Spinoff Welfare Plan shall assume all liability from the corresponding Split Welfare Plan with respect to, and shall provide benefits to, those SnackCo Employees and
Former Cadbury Employees and their respective Plan Payees who immediately prior to the Distribution were participating in, or entitled to present or future benefits under, the corresponding Split Welfare Plan. From and after the Distribution Date,
SnackCo and the SnackCo Group shall be solely and exclusively responsible for all obligations and liabilities with respect to, or in any way related to, the SnackCo Spinoff Welfare Plans, whether accrued before, on or after the Distribution Date.

 Section 4.3 Continuation of Elections. As of the Distribution Date, or Applicable Transfer Date, SnackCo shall cause
the SnackCo Spinoff Welfare Plans to recognize and maintain all elections and designations (including, without limitation, all coverage and contribution elections and beneficiary designations) in effect with respect to SnackCo Employees and Former
Cadbury Employees prior to the Distribution Date, or Applicable Transfer Date, under the corresponding Split Welfare Plan and apply such elections and designations under the SnackCo Spinoff Welfare Plans for the remainder of the period or periods
for which such elections or designations are by their original terms effective. 

  
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 Section 4.4 Deductibles and Other Cost-Sharing Provisions. As of the Distribution
Date, or Applicable Transfer Date, SnackCo shall cause the SnackCo Spinoff Welfare Plans to recognize all amounts applied to deductibles, co-payments and out-of-pocket maximums with respect to SnackCo Employees and Former Cadbury Employees under the
corresponding Split Welfare Plan during the plan year in which the Distribution or Applicable Transfer Date occurs, and the SnackCo Spinoff Welfare Plans will not impose any limitations on coverage for preexisting conditions other than such
limitations as were applicable under the corresponding Split Welfare Plan prior to the Distribution Date or Applicable Transfer Date. 
 Section 4.5 Flexible Spending Account Treatment. With respect to the portion of a Split Welfare Plan that consists of medical and dependent care flexible spending accounts, as of the Distribution,
SnackCo shall be solely responsible for all liabilities with respect to SnackCo Employees and Former Cadbury Employees, and the applicable SnackCo Spinoff Welfare Plan shall, as required under Section 4.3, give effect to the elections of
SnackCo Employees and Former Cadbury Employees (i.e., Former Cadbury Employees who elected “COBRA” with respect to their medical care flexible spending accounts) that were in effect under the corresponding Split Welfare Plan as of
the Distribution Date or Applicable Transfer Date. 
 Section 4.6 Workers’ Compensation. The SnackCo Group shall be
solely responsible for all United States (including its territories) workers’ compensation claims of (a) GroceryCo Employees and Former GroceryCo Business Employees with respect to Workers’ Compensation Events occurring before the
Distribution Date, and (b) SnackCo Employees and Former SnackCo Business Employees, regardless of when the Workers’ Compensation Events occur. The GroceryCo Group shall be solely responsible for all workers’ compensation claims of
GroceryCo Employees with respect to Workers’ Compensation Events occurring on or after the Distribution Date, except for claims that are defined by individual state workers’ compensation boards as “Cumulative Trauma” claims.
Cumulative Trauma claims are governed by Section 4.7(f) of the Separation Agreement. 
 ARTICLE V 

TAX-QUALIFIED DEFINED BENEFIT PLANS 
 Section 5.1 SnackCo Spinoff DB Plans. 
 (a) Effective as of the Distribution
Date, SnackCo or another member of the SnackCo Group shall assume certain defined benefit plans established effective                      that are
intended to qualify under Code Section 401(a) or under Puerto Rico tax law, along with a related master trust or trusts that is exempt under Code Section 501(a) (such plans and trusts, the “SnackCo Spinoff DB Plans” ).
Each SnackCo Spinoff DB Plan shall have terms and features (including benefit accrual provisions) that are substantially identical to one of the Benefit Plans listed on Schedule 5.1(a) (such Benefit Plans, the “Split DB
Plans” ), such that (for the avoidance of doubt) each Split DB Plan is substantially replicated by a corresponding SnackCo Spinoff DB Plan. Each SnackCo Spinoff DB Plan shall assume liability for all benefits accrued or earned (whether or
not vested) by SnackCo Employees and Former Cadbury Employees and their respective Plan 

  
 15 

 
Payees under the corresponding Split DB Plan as of the Distribution Date. SnackCo or a member of the SnackCo Group shall be solely responsible for taking all necessary, reasonable, and
appropriate actions (including the submission of the SnackCo Spinoff DB Plans to the Internal Revenue Service for a determination of Tax-qualified status) to establish, maintain and administer the SnackCo Spinoff DB Plans so that they are qualified
under Section 401(a) of the Code and that the related trusts thereunder are exempt under Section 501(a) of the Code. The portion of liabilities relating to SnackCo Employees and Former Cadbury Employees and their respective Plan Payees
shall cease to be liabilities of the applicable Split DB Plan, and shall be assumed by the corresponding SnackCo Spinoff DB Plan in accordance with this Section and Section 414(l) of the Code, Treasury Regulation Section 1.414(l)-1 and
Section 208 of ERISA. 
 (b) A master trust (the “SnackCo Master DB Trust”) has been established to hold
the assets of the SnackCo Spinoff DB Plans. The SnackCo Spinoff DB Plans that will participate in the SnackCo Master DB Trust effective as of the Distribution are specified on Schedule 5.1(b). Kraft Foods Inc. or a member of the SnackCo Group
shall cause its actuary to determine the estimated value, as of             , of the assets required to be held on behalf of each SnackCo SpinOff DB Plan in accordance with the assumptions
and methodologies set forth in Treasury Regulation Section 1.414(l)-1 and ERISA Section 4044 (the “Estimated Retirement Plan Transfer Amount” for each such plan). Prior to or as of the Distribution, GroceryCo or a member
of the GroceryCo Group shall cause the master trust for each Split DB Plan (the “GroceryCo Master DB Trust”) to transfer to the SnackCo Master DB Trust on behalf of each corresponding SnackCo Spinoff DB Plan an amount in cash or
in-kind equal to the Estimated Retirement Plan Transfer Amount for such plan, as adjusted for earnings based on actual earnings of the applicable Split DB Plan from              through the
actual date of transfer. 
 (c) Within 12 months following the Distribution Date, GroceryCo or another member of the GroceryCo
Group shall cause its actuary to provide SnackCo with a revised calculation of the value, as of the Distribution of the assets to be transferred to each SnackCo Spinoff DB Plan determined in accordance with the assumptions and methodologies set
forth in Treasury Regulation Section 1.414(l)-1 and ERISA Section 4044 and reflecting any Delayed Transfer Employees and their respective Applicable Transfer Dates and any demographic updates (the “Final Retirement Plan Transfer
Amount” for each such SnackCo Spinoff DB Plan). Within 45 days of the receipt from the actuary of the determination of the Final Retirement Plan Transfer Amount (determined as of
            ), GroceryCo shall cause each Split DB Plan to transfer to the corresponding SnackCo Spinoff DB Plan (the date of each such transfer, the “Final Transfer Date”
for each such plan) an amount in cash or in kind equal to (i) the Final Retirement Plan Transfer Amount, minus (ii) the sum of (A) the Estimated Retirement Plan Transfer Amount and (B) the aggregate amount of payments made from
the Split DB Plan to SnackCo Employees and Former Cadbury Employees and their respective Plan Payees in order to satisfy any benefit obligation with respect to such participants following the Distribution, or Applicable Transfer Date for Delayed
Transfer Employees, plus (iii) any payments made from a SnackCo Spinoff DB Plan to a GroceryCo Transferee prior to when such GroceryCo Transferee transferred from the SnackCo Group to the GroceryCo Group (such amount, the “True-Up
Amount” ). However, if the True-Up Amount is a 

  
 16 

 
negative number with respect to any SnackCo Spinoff DB Plan, GroceryCo shall not be required to cause any such additional transfer and instead SnackCo shall be required to cause a transfer of
cash within 45 days of the receipt of written notification by SnackCo from such SnackCo Spinoff DB Plan to the corresponding Split DB Plan of the amount by which the sum of clauses (ii)(A) and (B) above, minus the amount in (iii) above,
exceeds the Final Retirement Plan Transfer Amount. The True-Up Amount or the amount described in the immediately-preceding sentence shall be adjusted to reflect actual earnings or losses of the Master DB Trust from which the assets are being
transferred from              through the Final Transfer Date. The parties hereto acknowledge that the Split DB Plans’ transfer of the True-Up Amount to the corresponding SnackCo
Spinoff DB Plans shall be in full settlement and satisfaction of the obligations of GroceryCo and the Split DB Plans to transfer assets to the SnackCo Spinoff DB Plans pursuant to this Section. In the event that SnackCo is obligated to cause any
SnackCo Spinoff DB Plan to reimburse the corresponding Split DB Plan pursuant to this Section, such reimbursement or earnings calculation shall be performed in accordance with the same principles set forth herein with respect to the payment of the
True-Up Amount. 
 (d) From and after the Distribution Date, SnackCo and the members of the SnackCo Group shall be solely and
exclusively responsible for all obligations and liabilities with respect to, or in any way related to, the SnackCo Spinoff DB Plans, whether accrued before, on or after the Distribution Date. For the avoidance of doubt, the SnackCo Spinoff DB Plans
shall have the sole and exclusive obligation to restore the unvested accrued benefits attributable to any individual who becomes employed by a member of the SnackCo Group and whose employment with Kraft Foods Inc. or any of its Affiliates or a
member of the GroceryCo Group terminated on or before the Distribution at a time when such individual’s benefits under the Split DB Plan were not fully vested. Furthermore, the SnackCo Spinoff DB Plans shall have the sole obligation to restore
accounts attributable to any lost participants who were formerly employed in the SnackCo Business. 
 Section 5.2
Continuation of Elections. As of the Distribution Date, or Applicable Transfer Date, SnackCo (acting directly or through a member of the SnackCo Group) shall cause the SnackCo Spinoff DB Plans to recognize and maintain all existing elections,
including beneficiary designations, payment form elections and rights of alternate payees under qualified domestic relations orders with respect to SnackCo Employees and Former Cadbury Employees and their respective Plan Payees under the
corresponding Split DB Plan. 
 ARTICLE VI 
 U.S. TAX-QUALIFIED DEFINED CONTRIBUTION PLANS 
 Section 6.1 SnackCo
Retained Defined Contribution Plans. Prior to the Distribution Date, SnackCo shall cause a member of the SnackCo Group to retain or, to the extent necessary, assume sponsorship of the Cadbury Puerto Rico Savings Plan (and its related trust).
GroceryCo shall use reasonable efforts to transfer or cause to be transferred to a member of the SnackCo Group all plan documents, trust agreements, insurance policies, administrative agreements and other agreements and instruments in the possession
of the members of the GroceryCo Group that are reasonably required for the maintenance 

  
 17 

 
and administration of the Cadbury Puerto Rico Savings Plan. From and after the Distribution Date, the SnackCo Group shall be exclusively responsible for all obligations and liabilities with
respect to the Cadbury Puerto Rico Savings Plan, all assets of the Cadbury Puerto Rico Savings Plan, and all benefits owed to participants in the Cadbury Puerto Rico Savings Plan, whether accrued before, on or after the Distribution Date. GroceryCo
will retain sponsorship of the Kraft Puerto Rico Savings Plan (collectively with the Cadbury Puerto Rico Savings Plan, the “Puerto Rico Savings Plans” ) and shall be responsible for all obligations and liabilities thereunder. In the
event that a SnackCo Employee transfers employment to the GroceryCo Group or a GroceryCo Employee transfers employment to the SnackCo Group before or on the Distribution Date, his or her account under the applicable Puerto Rico Savings Plan shall be
transferred to the other Puerto Rico Savings Plan using the same principles as specified in Section 6.2(c) below. 

Section 6.2 SnackCo Spinoff DC Plans. 
 (a) Effective as of the Distribution Date, SnackCo or another member of the SnackCo Group shall assume certain defined contribution plans established effective
             that are intended to qualify under Code Section 401(a), and a related master trust or trusts exempt under Code Section 501(a) (such plans and trusts, the
“SnackCo Spinoff DC Plans” ). Each SnackCo Spinoff DC Plan shall have terms and features (including employer contribution provisions) that are substantially identical to one of the Benefit Plans listed on Schedule 6.2(a)
(such Benefit Plans, the “Split DC Plans” ) such that (for the avoidance of doubt) each Split DC Plan is substantially replicated by a corresponding SnackCo Spinoff DC Plan. SnackCo or a member of the SnackCo Group shall be solely
responsible for taking all necessary, reasonable, and appropriate actions (including the submission of the SnackCo Spinoff DC Plans to the Internal Revenue Service for a determination of Tax-qualified status) to establish, maintain and administer
the SnackCo Spinoff DC Plans so that they are qualified under Section 401(a) of the Code and that the related trusts thereunder are exempt under Section 501(a) of the Code. Each SnackCo Spinoff DC Plan shall assume liability for all
benefits accrued or earned (whether or not vested) by SnackCo Employees and Former Cadbury Employees and their respective Plan Payees under the corresponding Split DC Plan as of the Distribution Date or Applicable Transfer Date. 

(b) A master trust (the “SnackCo Master DC Trust”) has been established to hold the assets of the SnackCo Spinoff DC
Plans. The SnackCo Spinoff DC Plans that will participate in the SnackCo Master DC Trust effective as of the Distribution are specified on Schedule 6.2(b). Kraft Foods Inc. or a member of the SnackCo Group shall cause the assets required to
be held on behalf of each SnackCo SpinOff DC Plan to be transferred to the SnackCo Master DC Trust no later than the business day before the Distribution Date. All such asset transfers shall equal the account balances of the affected participants
and Plan Payees as of the Transfer Date and shall be in the same form of property as held under the trust for the applicable Split DC Plan. On or as soon as reasonably practicable following the Distribution Date or Applicable Transfer Date,
GroceryCo or another member of the GroceryCo Group shall cause each Split DC Plan to transfer to the applicable SnackCo Spinoff DC Plan, and SnackCo or another member of the SnackCo Group shall cause such SnackCo Spinoff DC Plan to accept the
transfer of, 

  
 18 

 
the accounts, liabilities and related assets in such Split DC Plan attributable to SnackCo Employees and Former Cadbury Employees and their respective Plan Payees. The transfer of assets shall be
in cash or in kind (as determined by the transferor) and include outstanding loan balances and amounts forfeited by Former Cadbury Employees that have not yet been reallocated or applied to the payment of contributions or expenses and be conducted
in accordance with Code Section 414(l) and Treasury Regulation Section 1.414(1)-1 and Section 208 of ERISA. 
 (c)
On or as soon as reasonably practicable following the Applicable Transfer Date (but not later than 30 days thereafter), SnackCo or a member of the SnackCo Group shall cause the accounts, related liabilities, and related assets in the corresponding
SnackCo Spinoff DC Plan(s) attributable to any GroceryCo Transferees and their respective Plan Payees (including any outstanding loan balances) to be transferred in cash or in-kind (as determined by the transferor) in accordance with Code
Section 414(l) and Treasury Regulation Section 1.414(l)-1 and Section 208 of ERISA to the applicable Split DC Plan(s). GroceryCo or another member of the GroceryCo Group shall cause the applicable Split DC Plan(s) to accept such
transfer of accounts, liabilities and assets. 
 (d) From and after the Distribution Date, except as specifically provided in
paragraph (c) above, SnackCo and the SnackCo Group shall be solely and exclusively responsible for all obligations and liabilities with respect to, or in any way related to, the SnackCo Spinoff DC Plans, whether accrued before, on or after the
Distribution Date. For the avoidance of doubt, the SnackCo Spinoff DC Plans shall have the sole and exclusive obligation to restore the unvested portion of any account attributable to any individual who becomes employed by a member of the SnackCo
Group and whose employment with Kraft Foods Inc. or any of its Affiliates, or a member of the GroceryCo Group terminated on or before the Distribution at a time when such individual’s benefits under the Split DC Plans were not fully vested.
Furthermore, the SnackCo Spinoff DC Plans shall have the sole obligation to restore accounts attributable to any lost participants who were formerly employed in the SnackCo Business. 

Section 6.3 Continuation of Elections. As of the Distribution Date, or Applicable Transfer Date, SnackCo (acting directly or
through a member of the SnackCo Group) shall cause the SnackCo Spinoff DC Plans to recognize and maintain all elections, including investment and payment form elections, beneficiary designations, and the rights of alternate payees under qualified
domestic relations orders with respect to SnackCo Employees and Former Cadbury Employees and their respective Plan Payees under the corresponding Split DC Plan. 
 Section 6.4 Contributions Due. All contributions payable to the Split DC Plans with respect to employee deferrals, matching contributions and employer contributions for SnackCo Employees through
the Distribution Date, determined in accordance with the terms and provisions of the Split DC Plans, ERISA and the Code, shall be paid by GroceryCo or another member of the GroceryCo Group to the appropriate Split DC Plan prior to the date of any
asset transfer described in Section 6.2. 

  
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 ARTICLE VII 
 NONQUALIFIED RETIREMENT PLANS 
 Section 7.1 SnackCo Retained
Nonqualified Plans. 
 (a) Prior to the Distribution Date, SnackCo shall cause a member of the SnackCo Group to retain or, to
the extent necessary, assume sponsorship of, the SnackCo Retained Nonqualified Plans set forth on Schedule 7.1(a) (the “SnackCo Retained Nonqualified Plans” ). GroceryCo shall use reasonable efforts to transfer or cause to be
transferred to a member of the SnackCo Group all plan documents, administrative agreements and other agreements and instruments in the possession of the members of the GroceryCo Group that are reasonably required for the maintenance and
administration of the SnackCo Retained Nonqualified Plans. From and after the Distribution Date, the SnackCo Group shall be exclusively responsible for all obligations and liabilities with respect to the SnackCo Retained Nonqualified Plans, and all
benefits owed to participants in the SnackCo Retained Nonqualified Plans, whether accrued before, on or after the Distribution Date. 
 (b) GroceryCo shall cause to be transferred to SnackCo the applicable rabbi trusts established to pay benefits under the SnackCo Retained Nonqualified Plans. 

Section 7.2 SnackCo Spinoff Nonqualified Plans. 
 (a) Effective as of the Distribution, SnackCo or another member of the SnackCo Group shall establish certain nonqualified retirement plans (such plans, the “SnackCo Spinoff Nonqualified
Plans” ). Each SnackCo Spinoff Nonqualified Plan shall have terms and features (including employer contribution provisions) that are substantially identical to one of the GroceryCo Benefit Plans listed on Schedule 7.2(a) (such plans,
the “Split Nonqualified Plans” ) such that (for the avoidance of doubt), each Split Nonqualified Plan is substantially replicated by a corresponding SnackCo Spinoff Nonqualified Plan. SnackCo or a member of the SnackCo Group shall
be solely responsible for taking all necessary, reasonable, and appropriate actions to establish, maintain and administer the SnackCo Spinoff Nonqualified Plans so that they do not result in adverse Tax consequences under Code Section 409A.
Each SnackCo Spinoff Nonqualified Plan shall assume liability for all benefits accrued or earned (whether or not vested) by SnackCo Employees and Former Cadbury Employees and their respective Plan Payees under the corresponding Split Nonqualified
Plan as of the Distribution Date. From and after the Distribution Date, SnackCo and the SnackCo Group shall be solely and exclusively responsible for all obligations and liabilities with respect to, or in any way related to, the SnackCo Spinoff
Nonqualified Plans, whether accrued before, on or after the Distribution Date. Furthermore, SnackCo and the SnackCo Group shall have the sole obligation to restore in the SnackCo Spinoff Nonqualified Plans benefits under the Split Nonqualified Plans
attributable to any lost participants who were formerly employed in the SnackCo Business. 

  
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 (b) Unless SnackCo and GroceryCo agree otherwise before the Distribution, prior to or on the
Distribution Date, GroceryCo or another member of the GroceryCo Group shall cause its actuary to determine the estimated value, as of the Distribution, of the amount of assets to be transferred from the rabbi trusts established to pay benefits under
one or more of the Split Nonqualified Plans (the “GroceryCo Rabbi Trusts” ) to one or more trusts established or maintained by SnackCo as designated by SnackCo with respect to the SnackCo Spinoff Nonqualified Plans specified on
Schedule 7.2(b) (the “Initial Nonqualified Plan Transfer Amount” ). The Initial Nonqualified Plan Transfer Amount shall be determined by an actuary selected by the GroceryCo Group. 

(c) Within 12 months following the Distribution, GroceryCo or another member of the GroceryCo Group shall cause its actuary to provide
SnackCo with a revised calculation of the value, as of the Distribution, of the assets to be transferred with respect to each SnackCo Spinoff Nonqualified Plan specified on Schedule 7.2(b), as determined by the actuary selected by the
GroceryCo Group, and reflecting any Delayed Transfer Employees and their respective Applicable Transfer Dates and any demographic updates (the “Final Nonqualified Plan Transfer Amount” for each such plan). 

Within 45 days of the receipt from the actuary of the determination of the Final Nonqualified Plan Transfer Amount, GroceryCo shall cause
the applicable GroceryCo Rabbi Trust to transfer to a trust specified by SnackCo (the date of each such transfer, the “Final Nonqualified Plan Transfer Date” for each such plan) an amount in cash equal to (i) the Final
Nonqualified Plan Transfer Amount, minus (ii) the sum of (A) the Initial Nonqualified Plan Transfer Amount and (B) the aggregate amount of payments made pursuant to the Split Nonqualified Plan to SnackCo Employees, Delayed Transfer
Employees and their respective Plan Payees in order to satisfy any benefit obligation with respect to such participants following the Distribution, or Applicable Transfer Date for Delayed Transfer Employees, plus (iii) any payments made from a
SnackCo Spinoff Nonqualified Plan specified on Schedule 7.2(b) to a Delayed Transfer Employee prior to when such Delayed Transfer Employee transferred from the SnackCo Group to the GroceryCo Group (such amount the “Nonqualified Plan
True-Up Amount” ). However, if the Nonqualified Plan True-Up Amount is a negative number with respect to any SnackCo Spinoff Nonqualified Plan, GroceryCo shall not be required to cause any such additional transfer and instead SnackCo shall
be required to cause a transfer of cash within 45 days of the receipt of written notification by GroceryCo from the relevant SnackCo trust to the GroceryCo Rabbi Trust specified by GroceryCo the amount by which the sum of clauses (ii)(A) and
(B) above, minus the amount in (iii) above, exceeds the Final Nonqualified Plan Transfer Amount. The Nonqualified Plan True-Up Amount or the amount described in the immediately-preceding sentence shall be adjusted to reflect earnings or
losses using the same principles described in Section 5.1(c). The parties hereto acknowledge that the GroceryCo Rabbi Trusts’ transfer of the Nonqualified Plan True-Up Amount to a SnackCo trust shall be in full settlement and satisfaction
of the obligations of GroceryCo and the GroceryCo Rabbi Trusts to transfer assets to SnackCo or any SnackCo trust pursuant to this Section 7.2(c). 
 (d) Except for individual grantor/secular trusts covering SnackCo Employees, no individual grantor/secular trusts shall be transferred to SnackCo. 

  
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 Section 7.3 General Foods Plan. GroceryCo shall retain sponsorship of, and shall be
responsible for all liabilities arising under, the General Foods Deferred Compensation Plan. The corporate-owned life insurance policies that fund benefit payments under such Plan shall remain the property of GroceryCo. 

Section 7.4 No Distributions on Separation. SnackCo and GroceryCo acknowledge that neither the Distribution nor any of the other
transactions contemplated by this Employee Matters Agreement, the Separation Agreement or the other Ancillary Agreements will trigger a payment or distribution of compensation under any Benefit Plan that is a nonqualified retirement plan for any
SnackCo Employee, GroceryCo Employee, former SnackCo Employee or Former GroceryCo Business Employee and, consequently, that the payment or distribution of any compensation to which any SnackCo Employee, GroceryCo Employee, former SnackCo Employee or
Former GroceryCo Business Employee is entitled under any such Benefit Plan will occur upon such individual’s separation from service from the SnackCo Group or the GroceryCo Group, as applicable, or at such other time as specified in the
applicable Benefit Plan. 
 Section 7.5 Section 409A. SnackCo and GroceryCo shall cooperate in good faith so that
the Distribution will not result in adverse Tax consequences under Code Section 409A to any current or former employee of any member of the SnackCo Group or any member of the GroceryCo Group, or their respective Plan Payees, in respect of his
or her benefits under any SnackCo Benefit Plan or GroceryCo Benefit Plan. 
 Section 7.6 Continuation of Elections. As of
the Distribution Date, or Applicable Transfer Date, SnackCo (acting directly or through a member of the SnackCo Group) shall cause each SnackCo Spinoff Nonqualified Plan to recognize and maintain all elections, including deferral, investment and
payment form elections, beneficiary designations, and the rights of alternate payees under qualified domestic relations orders with respect to SnackCo Employees and their Plan Payees under the corresponding Split Nonqualified Plan. 

Section 7.7 Delayed Transfer Employees. Any SnackCo Transferee shall be treated in the same manner as a SnackCo Employee under
this Article VII. As indicated in Section 2.6, such a SnackCo Transferee’s Applicable Transfer Date shall be treated as the Distribution Date. In addition, the GroceryCo Group shall assume and be solely responsible, pursuant to the terms
of the applicable Split Nonqualified Plan, for any benefits accrued by any GroceryCo Transferee under any SnackCo Spinoff Nonqualified Plan, and the SnackCo Group shall have no liability with respect thereto. 

Section 7.8 Kraft Foods Inc. Directors’ Plans. Kraft Foods Inc. has adopted the 2001 Kraft Foods Inc. Compensation Plan for
Non-Employee Directors, the Kraft Foods Inc. 2001 Stock Compensation Plan for Non-Employee Directors, the Kraft Foods Inc. 2006 Stock Compensation Plan for Non-Employee Directors and the Kraft Foods Inc. Amended and Restated 2006 Stock Compensation
Plan for Non-Employee Directors (collectively, the “Kraft Foods Director Plans” ). Effective as of the Distribution Date, GroceryCo shall assume, under corresponding GroceryCo director plans, the accrued liability for deferred
amounts under the Kraft Foods Director Plans with respect to each 

  
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GroceryCo Director. Except as otherwise provided in Section 8.9, as soon as practicable following the Distribution Date, SnackCo shall pay to GroceryCo an amount equal to such accrued
liability (as determined for financial reporting purposes as of the close of business on the Distribution Date). 
 ARTICLE
VIII 
 KRAFT FOODS EQUITY COMPENSATION AWARDS 

Section 8.1 Outstanding Kraft Foods Equity Compensation Awards. 

(a) Each Kraft Foods Equity Compensation Award that is outstanding as of the Distribution Date shall be adjusted as described below, so
that each holder of a Kraft Foods Equity Compensation Award shall hold adjusted equity awards with respect to either a GroceryCo Equity Compensation Award, a SnackCo Equity Compensation Award or both; provided, however, that, effective immediately
prior to the Distribution, the Human Resources and Compensation Committee of the Board of Directors of Kraft Foods Inc. may provide for different adjustments with respect to some or all of a holder’s Kraft Foods Equity Compensation Awards. For
greater certainty, any adjustments made by the Human Resources and Compensation Committee of the Board of Directors of Kraft Foods Inc. shall be deemed incorporated by reference herein as if fully set forth below and shall be binding on the parties
hereto and their respective Subsidiaries. 
 (i) Each Kraft Foods Option or Kraft Foods SAR generally shall be
adjusted in the manner described below, effective as of the Distribution Date and immediately prior to the Distribution, so that each Kraft Foods Option and Kraft Foods SAR holder, respectively, shall hold SnackCo Options (or SnackCo SARs) and
GroceryCo Options (or GroceryCo SARs) in lieu of the Kraft Foods Options (or Kraft Foods SARs) previously held. The following procedure shall generally be applied to each Kraft Foods Option (or Kraft Foods SAR) with the same grant date and exercise
price held by each Kraft Foods Option (or Kraft Foods SAR) holder as of the Distribution Date. For the avoidance of doubt, the term “exercise price” refers to the amount payable by an option holder in order to acquire shares pursuant to a
stock option award and to the base share value from which the amount of appreciation due to a stock appreciation right holder upon exercise of such stock appreciation right shall be measured: 

(A) The SnackCo Option or SnackCo SAR shall have an exercise price equal to the SnackCo Price multiplied by the Option
Conversion Ratio. The number of SnackCo Options/SARs shall equal the number of Kraft Foods Options or Kraft Foods SARs to which they relate. Such SnackCo Options/SARs shall be subject to the same vesting requirements and dates and other terms and
conditions as the Kraft Foods Options or Kraft Foods SARs to which they relate. 

  
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 (B) The GroceryCo Options and GroceryCo SARs shall have an exercise price
equal to the GroceryCo Price multiplied by the Option Conversion Ratio. The number of GroceryCo Options and GroceryCo SARs shall equal the number of Kraft Foods Options or Kraft Foods SARs, as applicable, multiplied by the Distribution Ratio,
rounded down to the nearest whole option or stock appreciation right, as applicable. Such GroceryCo Options and GroceryCo SARs shall be subject to the same vesting requirements and dates and other terms and conditions as the Kraft Foods Options or
Kraft Foods SARs to which they relate. 
 (C) If the resulting aggregate Intrinsic Value of the SnackCo
Options/SARs and GroceryCo Options/SARs is less than the Intrinsic Value of the corresponding Kraft Foods Options or Kraft Foods SARs, as the case may be, then the difference shall be paid to the option holder in cash, less any applicable taxes, as
soon as practicable following the Distribution Date. If the resulting aggregate Intrinsic Value of the SnackCo Options/SARs and GroceryCo Options/SARs, as the case may be, is greater than the Intrinsic Value of the Kraft Foods Options or Kraft Foods
SARs, as the case may be, then the number of GroceryCo Options/SARs shall be reduced until the aggregate Intrinsic Value of the SnackCo Options/SARs and GroceryCo Options/SARs is less than or equal to the Intrinsic Value of the Kraft Foods Options
or Kraft Foods SARs, as the case may be, and any difference shall be paid to the option or stock appreciation right holder in cash, less any applicable taxes, as soon as practicable following the Distribution Date. Notwithstanding the foregoing, if
the Intrinsic Value of the SnackCo Options/SARs is negative, only Section 8.1(a)(i)(B) shall be applied. The cash payment described above shall be made by SnackCo to individuals who are SnackCo Employees on the Distribution Date and by
GroceryCo to all other holders. Notwithstanding the foregoing, no cash shall be paid to an option or stock appreciation right holder if Canadian tax would be payable by the holder as a result of such cash payment. 

(ii) With respect to Kraft Foods Restricted Shares and Kraft Foods Deferred Stock Units: 

(A) Each holder of Kraft Foods Restricted Shares will generally receive from GroceryCo, as of the time of the Distribution
Date and immediately prior to the Distribution, GroceryCo Restricted Shares determined in the same manner as for other shareholders of Kraft Foods Common Stock based on the Distribution Ratio, rounded down to the nearest whole number of shares, with
the value of any fractional share paid to the grantee in cash, less any applicable taxes, as soon as practicable following the Distribution Date (with such cash payment to be made by SnackCo to individuals who are SnackCo Employees on the
Distribution Date and by GroceryCo to all other holders). Notwithstanding the foregoing, no cash shall be paid to a holder of Kraft Foods Restricted Shares if Canadian tax would be payable by the holder as a result of such cash payment. Such
GroceryCo Restricted Shares shall be subject to the same vesting requirements and dates and other terms and conditions as the Kraft Foods 

  
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Restricted Shares to which they relate (including the right to receive dividends or other distributions paid on GroceryCo Common Stock). Each Kraft Foods Restricted Share shall continue to be one
SnackCo Restricted Share which shall be subject to the same vesting requirements and dates and other terms and conditions as the Kraft Foods Restricted Shares to which it relates. 

(B) Each holder of Kraft Foods Deferred Stock Units will generally receive from GroceryCo, as of the time of the
Distribution Date and immediately prior to the Distribution, GroceryCo Deferred Stock Units, determined in the same manner as for shareholders of Kraft Foods Common Stock based on the Distribution Ratio, rounded down to the nearest whole number of
shares, with the value of any fractional share paid to the grantee in cash, less any applicable taxes, as soon as practicable following the Distribution Date (with such cash payment to be made by SnackCo to individuals who are SnackCo Employees on
the Distribution Date and by GroceryCo to all other holders). Notwithstanding the foregoing, no cash shall be paid to a holder of Kraft Foods Deferred Stock Units if (I) Canadian tax would be payable by the holder as a result of such cash
payment, or (II) the holder is subject to U.S. federal income tax on the deferred stock units as of the Distribution Date and has attained normal retirement age (within the meaning of the Kraft Foods Deferred Stock Units agreement) or will attain
normal retirement age before the GroceryCo Deferred Stock Units become payable (or any other individual who holds Kraft Foods Deferred Stock Units that are subject to Code Section 409A). All GroceryCo Deferred Stock Units shall be subject to
the same vesting requirements and dates and other terms and conditions as the Kraft Foods Deferred Stock Units to which they relate (including the right to be credited with dividends or other distributions paid on GroceryCo Common Stock). Each Kraft
Foods Deferred Stock Unit shall continue to be a SnackCo Deferred Stock Unit which shall be subject to the same vesting requirements and dates and other terms and conditions as the Kraft Foods Deferred Stock Unit to which it relates. 

(iii) With respect to Kraft Foods Performance Shares: 

(A) An outstanding Kraft Foods Performance Share that, as of the Distribution Date, is held by any GroceryCo Employee,
shall be converted to a GroceryCo Performance Share. Each GroceryCo Performance Share shall be adjusted into a performance share award with respect to GroceryCo Common Stock. The adjustment of the number of target shares will be determined by
multiplying the target number of Kraft Foods Performance Shares by the fraction with the numerator equal to the Kraft Foods Pre-Adjustment Price and the denominator equal to the average of the closing stock price of GroceryCo Common Stock as
reported on the NASDAQ Global Select Market for five consecutive trading days beginning with the first trading day after the Distribution Date rounded down to the nearest whole number of shares. The performance criteria applicable to any GroceryCo
Performance Shares shall also be adjusted as determined by the Compensation Committee of GroceryCo’s Board of Directors to reflect the Distribution. 

  
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 (B) An outstanding Kraft Foods Performance Share that, as of the
Distribution Date, is held by any SnackCo Employee, shall be converted to a SnackCo Performance Share. Each SnackCo Performance Share shall be adjusted into a performance share award with respect to SnackCo Common Stock. The adjustment of the number
of target shares will be determined by multiplying the target number of Kraft Foods Performance Shares by the fraction with the numerator equal to the Kraft Foods Pre-Adjustment Price and the denominator equal to the average of the closing stock
price of SnackCo Common Stock as reported on the NASDAQ Global Select Market for five consecutive trading days beginning with the first trading day after the Distribution Date rounded down to the nearest whole number of shares. The performance
criteria applicable to any SnackCo Performance Shares shall also be adjusted as determined by the Human Resources and Compensation Committee of SnackCo’s Board of Directors to reflect the Distribution. 

(b) In the event a change in control (as defined in the applicable equity incentive plan or award agreement) occurs with respect to
GroceryCo, then (i) any accelerated vesting and/or exercisability applicable to GroceryCo Equity Compensation Awards held by GroceryCo Employees and Former GroceryCo Business Employees shall apply to the SnackCo Equity Compensation Awards then
held by such individuals, and (ii) all GroceryCo Equity Compensation Awards then held by SnackCo Employees and Former SnackCo Business Employees shall fully vest (and, to the extent applicable, become exercisable). In the event a change in
control (as defined in the applicable equity incentive plan or award agreement) occurs with respect to SnackCo, then (i) any accelerated vesting and/or exercisability applicable to SnackCo Equity Compensation Awards held by SnackCo Employees
and Former SnackCo Business Employees shall apply to the GroceryCo Equity Compensation Awards then held by such individuals, and (ii) all SnackCo Equity Compensation Awards then held by GroceryCo Employees and Former GroceryCo Business
Employees shall fully vest (and, to the extent applicable, become exercisable). 
 (c) Prior to the Distribution Date, GroceryCo
shall establish equity compensation plans, so that upon the Distribution, GroceryCo shall have in effect an equity compensation plan containing substantially the same terms as each original Kraft Foods Inc. equity compensation plan under which any
GroceryCo Equity Compensation Award or GroceryCo Performance Share was granted. From and after the Distribution Date, each GroceryCo Equity Compensation Award and GroceryCo Performance Share shall be subject to the terms of the applicable GroceryCo
equity compensation plan, the award agreement governing such GroceryCo Equity Compensation Award or GroceryCo Performance Share and any Employment Agreement to which the applicable holder is a party. From and after the Distribution Date, GroceryCo
shall retain, pay, perform, fulfill and discharge all Liabilities arising out of or relating to the GroceryCo Equity Compensation Awards. 

  
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 (d) In all events, the adjustments provided for in this Section 8.1 shall be made in a
manner that, as determined by Kraft Foods Inc., avoids adverse Tax consequences to holders under Code Section 409A. 

Section 8.2 Tax Withholding, Reporting and Deductions. 
 (a) The appropriate member of the SnackCo Group shall be responsible for all payroll taxes, withholding and reporting with respect to SnackCo Equity Compensation Awards and GroceryCo Equity Compensation
Awards held by SnackCo Employees and Former SnackCo Business Employees. The appropriate member of the GroceryCo Group shall be responsible for all payroll taxes, withholding and reporting with respect to SnackCo Equity Compensation Awards and
GroceryCo Equity Compensation Awards held by GroceryCo Employees and Former GroceryCo Business Employees. SnackCo and GroceryCo hereby designate the other party as an agent for withholding pursuant to IRS Revenue Procedure 70-6 and to accept such
designation to effectuate the intent of this Section 8.2(a). 
 (b) With respect to the SnackCo Equity Compensation Awards
and GroceryCo Equity Compensation Awards held by SnackCo Employees or Former SnackCo Business Employees, the appropriate member of the SnackCo Group shall claim any federal, state and/or local tax deductions after the Distribution Date, and no
member of the GroceryCo Group shall claim any such deductions. With respect to the SnackCo Equity Compensation Awards and GroceryCo Equity Compensation Awards held by GroceryCo Employees or Former GroceryCo Business Employees, the appropriate member
of the GroceryCo Group shall claim any federal, state and/or local tax deductions after the Distribution Date, and no member of the SnackCo Group shall claim any such deductions. If either SnackCo or GroceryCo determines in its reasonable judgment
that there is a substantial likelihood that a tax deduction that was assigned to the SnackCo Group or the GroceryCo Group pursuant to this Section 8.2(b) will instead be available only to the other party (whether as a result of a determination
by the Internal Revenue Service or another tax authority, a change in the Code or the regulations or guidance thereunder, or otherwise), it shall notify the other party and both parties will negotiate in good faith to resolve the issue in accordance
with the following principle: the party entitled to the deduction shall pay to the other party an amount that places the other party in a financial position equivalent to the financial position the party would have been in had the party received the
deduction as intended under this Section 8.2(b). Such amount shall be paid within 90 days after filing the last tax return necessary to make the determination described in the preceding sentence. 

(c) If SnackCo or GroceryCo determines in its reasonable judgment that any action required under this Article VIII will not achieve the
intended tax, accounting and legal results, including, without limitation, the intended results under Code Section 409A or FASB ASC Topic 718 – Stock Compensation, then at the request of SnackCo or GroceryCo, as applicable, SnackCo and
GroceryCo shall mutually cooperate in taking such actions as are necessary or appropriate to achieve such results, or most nearly achieve such results if the originally-intended results are not fully attainable. 

  
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 Section 8.3 Employment Treatment. 

(a) Continuous employment with the GroceryCo Group and the SnackCo Group following the Distribution Date shall be deemed to be continuing
service for purposes of vesting and exercisability for the GroceryCo Equity Compensation Awards and the SnackCo Equity Compensation Awards. However, in the event that a GroceryCo Employee terminates employment after the Distribution Date and becomes
employed by the SnackCo Group, for purposes of Article VIII, the GroceryCo Employee shall be deemed terminated and the terms and conditions of the applicable performance incentive plan under which grants were made shall apply. Similarly, in the
event that a SnackCo Employee terminates employment after the Distribution Date and becomes employed by the GroceryCo Group, for purposes of Article VIII, the SnackCo Employee shall be deemed terminated and the terms and conditions of the
performance incentive plan under which grants were made shall apply. Notwithstanding the foregoing, for purposes of this Article VIII only, if an individual is, by mutual agreement between the parties, scheduled to transfer employment shortly after
the Distribution Date between the GroceryCo Group and the SnackCo Group, such individual shall be treated as employed as of the Distribution Date and thereafter by the entity to which he or she is scheduled to transfer. In addition, a non-employee
member of the board of directors of SnackCo or GroceryCo shall be treated in a similar manner to that described in this Section 8.3(a). 
 (b) If, after the Distribution Date, SnackCo or GroceryCo identifies an administrative error in the individuals identified as holding SnackCo Equity Compensation Awards and GroceryCo Equity Compensation
Awards, the amount of such awards so held, the vesting level of such awards, or any other similar error, SnackCo and GroceryCo shall mutually cooperate in taking such actions as are necessary or appropriate to place, as nearly as reasonable
practicable, the individual and SnackCo and GroceryCo in the position in which they would have been had the error not occurred. 

Section 8.4 Payment of Option Exercise Prices. Upon the exercise of a SnackCo Option or a GroceryCo Option, the exercise price of
such stock option shall be remitted in cash by the option administrator to the issuer of the option (the appropriate member of the SnackCo Group or the GroceryCo Group, as applicable) and the applicable withholding taxes shall be remitted in cash by
the option administrator to the entity (the appropriate member of the SnackCo Group or the GroceryCo Group, as applicable) responsible for payroll taxes, withholding and reporting with respect to the option pursuant to Section 8.2. Upon vesting
or payment, as applicable, of restricted stock or deferred stock units, the applicable withholding shall be remitted in cash by the administrator to the entity (the appropriate member of the SnackCo Group or the GroceryCo Group, as applicable)
responsible for payroll taxes, withholding and reporting with respect to such awards pursuant to Section 8.2. To the extent necessary to provide the withholding amount in cash to the entity responsible for payroll taxes, withholding, and
reporting, the issuer of the applicable award shall provide the withholding amount in cash. Notwithstanding the foregoing, the method of remittance of the exercise price of any stock option or any applicable withholding taxes may vary for legal or
administrative reasons. 

  
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 Section 8.5 Dividends/Dividend Equivalents. With respect to dividends on GroceryCo
Restricted Shares or dividend equivalents on GroceryCo Deferred Stock Units payable by GroceryCo to a SnackCo Employee, GroceryCo shall make such payments to SnackCo, and SnackCo, as an agent for GroceryCo, shall make such payments to such SnackCo
Employees and shall be responsible for payroll taxes, withholding and reporting in accordance with Section 8.2(a). With respect to dividends on SnackCo Restricted Shares or dividend equivalents on SnackCo Deferred Stock Units payable by SnackCo
to a GroceryCo Employee, SnackCo shall make such payments to GroceryCo, and GroceryCo, as an agent for SnackCo, shall make such payments to such GroceryCo Employees and shall be responsible for payroll taxes, withholding and reporting in accordance
with Section 8.2(a). 
 Section 8.6 Equity Award Administration. GroceryCo and SnackCo agree that UBS Financial
Services Inc. shall be the administrator and recordkeeper for the GroceryCo and SnackCo Equity Compensation Awards outstanding as of the Distribution for the life of the relevant awards, unless the parties mutually agree otherwise. 

Section 8.7 Forfeiture-Related Payments. 
 (a) As soon as practicable following the Distribution Date, SnackCo shall pay to GroceryCo the Fair Value of the GroceryCo Options held by individuals who are SnackCo Employees or Former SnackCo Business
Employees and GroceryCo shall pay to SnackCo the Fair Value of the SnackCo Options held by GroceryCo Employees and Former GroceryCo Business Employees. The parties shall settle the obligations of the preceding sentence in cash on a net basis such
that the party required to pay the greater amount to the other shall pay the difference between the two amounts to the other. 

(b) As soon as practicable following the Distribution Date, SnackCo shall pay to GroceryCo the value of the GroceryCo Deferred Stock
Units and GroceryCo Restricted Shares held by individuals who are SnackCo Employees or Former SnackCo Business Employees and GroceryCo shall pay to SnackCo the value of the SnackCo Deferred Stock Units and SnackCo Restricted Shares held by
individuals who are GroceryCo Employees or Former GroceryCo Business Employees. The parties shall settle the obligations of the preceding sentence in cash on a net basis such that the party required to pay the greater amount to the other shall pay
the difference between the two amounts to the other. For purposes of this Section 8.7(b), the value of the GroceryCo Deferred Stock Units, GroceryCo Restricted Shares, SnackCo Deferred Stock Units and SnackCo Restricted Shares shall be
determined based on the GroceryCo Price and the SnackCo Price, respectively, reduced by assumed forfeitures based on the assumptions used for FASB ASC Topic 718 – Stock Compensation purposes in Kraft Foods Inc.’s most recent quarterly or
annual financial reporting prepared before the Distribution Date for forfeitures of Kraft Foods Deferred Stock Units and Kraft Foods Restricted Shares, as applicable. 
 Section 8.8 Registration. GroceryCo shall register the GroceryCo Common Stock relating to the GroceryCo Equity Compensation Awards and make any necessary filings with the appropriate Governmental
Authorities as required under U.S. and foreign securities Laws. 

  
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 Section 8.9 Non-Employee Directors’ Stock Units. 

(a) Any stock units granted to non-employee directors under any of the Kraft Foods Director Plans and outstanding immediately prior to
the Distribution shall be adjusted on the Distribution Date in substantially the same manner as Kraft Foods Deferred Stock Units are adjusted under Section 8.1(a)(ii)(B); provided, that the number of such units shall be rounded down to the
nearest whole number of shares (with no cash paid for any fractional share). In all events, the adjustments provided for in this Section 8.9 shall be made in a manner that, as determined by Kraft Foods Inc., avoids adverse Tax consequences
under Code Section 409A. 
 (b) For purposes of this Employee Matters Agreement, each non-employee member of the Board of
Directors of Kraft Foods Inc. prior to the Distribution Date who is a non-employee member of the Board of Directors of GroceryCo on the Distribution Date shall be a “GroceryCo Director” and each other non-employee member of the
Board of Directors of Kraft Foods Inc. prior to the Distribution Date shall be a “SnackCo Director” . With respect to dividend equivalents on GroceryCo stock units payable by GroceryCo to a SnackCo Director, GroceryCo shall make
such payments to SnackCo, and SnackCo, as an agent for GroceryCo, shall make such payments to such SnackCo Directors and shall be responsible for tax reporting of such amounts. With respect to dividend equivalents on SnackCo stock units payable by
SnackCo to a GroceryCo Director, SnackCo shall make such payments to GroceryCo, and GroceryCo, as an agent for SnackCo, shall make such payments to such GroceryCo Directors and shall be responsible for tax reporting of such amounts. 

(c) Prior to the Distribution Date, GroceryCo shall establish a plan or plans for non-employee directors, so that upon the Distribution,
GroceryCo shall have in effect a plan for non-employee directors containing substantially the same terms as each original Kraft Foods Inc. stock compensation plan under which any Kraft Foods Inc. stock unit award that is converted into a GroceryCo
stock unit award was granted. From and after the Distribution Date, each GroceryCo stock unit award shall be subject to the terms of the applicable GroceryCo plan for non-employee directors and the award agreement governing such GroceryCo award.
From and after the Distribution Date, GroceryCo shall retain, pay, perform, fulfill and discharge all Liabilities arising out of or relating to the GroceryCo stock units awards for non-employee directors. 

(d) At the time that any SnackCo stock units held by a GroceryCo Director become distributable pursuant to the terms of the applicable
SnackCo non-employee director plan, GroceryCo shall pay to SnackCo the value of such stock units, determined using the closing price of SnackCo Common Stock on the NASDAQ Global Select Market on the date of such distribution. At the time that any
GroceryCo stock units held by a SnackCo Director become distributable pursuant to the terms of the applicable GroceryCo non-employee director plan, SnackCo shall pay to GroceryCo the value of such units, determined using the closing price of
GroceryCo Common Stock on the NASDAQ Global Select Market on the date of such distribution. 

  
 30 

 ARTICLE IX 
 BENEFIT PLAN REIMBURSEMENTS, BENEFIT PLAN THIRD- 
 PARTY CLAIMS

 Section 9.1 General Principles. From and after the Distribution Date, any services that a member of the GroceryCo
Group shall provide to the members of the SnackCo Group or that a member of the SnackCo Group shall provide to the members of the GroceryCo Group relating to any Benefit Plans shall be set forth in the Transition Services Agreements (and, to the
extent provided therein, a member of the GroceryCo Group or the SnackCo Group shall provide administrative services referred to in this Employee Matters Agreement). 
 Section 9.2 Benefit Plan Third-Party Claims. 
 (a) In the event of any
conflict or inconsistency between the following provision on the one hand, and the Separation Agreement or any of the Ancillary Agreements on the other hand, the following provision shall control over the inconsistent provisions to the extent of the
inconsistency: 
 If a Third-Party Claim relates solely to the Benefit Plan of the Indemnifying Party, GroceryCo and SnackCo
shall take all actions necessary to substitute the Indemnifying Party and/or the relevant Benefit Plan of the Indemnifying Party as the proper party for such Third-Party Claim. If the Third-Party Claim relates to both a GroceryCo Benefit Plan and a
SnackCo Benefit Plan, GroceryCo and SnackCo shall take all actions necessary to separate or otherwise partition the Third-Party Claim so as to allow each party to solely defend the claim relating to its own Benefit Plan (unless the parties mutually
agree that such a separation or partition is unnecessary or inadvisable). If the Third-Party Claim cannot be transferred to the Indemnifying Party or separated or partitioned so as to allow each party to solely defend the claim relating to its own
Benefit Plan, then SnackCo shall defend the Third-Party Claim and GroceryCo may elect to participate in (but not control) the defense, compromise, or settlement of any such Third-Party Claim at its own expense. 

ARTICLE X 

INDEMNIFICATION 
 Section 10.1 Indemnification. All Liabilities retained or assumed by or allocated to GroceryCo or the GroceryCo Group pursuant to this Employee Matters Agreement shall be deemed to be GroceryCo
Liabilities for purposes of Article V of the Distribution Agreement, and all Liabilities retained or assumed by or allocated to SnackCo or the SnackCo Group pursuant to this Employee Matters Agreement shall be deemed to be SnackCo Liabilities for
purposes of Article V of the Distribution Agreement. 

  
 31 

 ARTICLE XI 
 COOPERATION 
 Section 11.1 Cooperation. Following the date of this
Employee Matters Agreement, SnackCo and GroceryCo shall, and shall cause their respective Subsidiaries, agents and vendors to, use reasonable best efforts to cooperate with respect to any 
 employee compensation, benefits or human resources systems matters that SnackCo or GroceryCo, as applicable, reasonably determines require the cooperation of both SnackCo and GroceryCo in order to
accomplish the objectives of this Employee Matters Agreement. Without limiting the generality of the preceding sentence, (a) SnackCo and GroceryCo shall cooperate in coordinating each of their respective payroll systems in connection with the
transfers of SnackCo Employees to the SnackCo Group and the Distribution, (b) GroceryCo shall transfer records to SnackCo as reasonably necessary for the proper administration of SnackCo Benefit Plans, to the extent such records are in
GroceryCo’s possession, (c) SnackCo and GroceryCo shall share, with each other and their respective agents and vendors (without obtaining releases), all participant information necessary for the efficient and accurate administration of the
Benefit Plans, and (d) SnackCo and GroceryCo shall share such information as is necessary to administer equity awards pursuant to Article VIII, to provide any required information to holders of such equity awards, and to make any governmental
filings with respect thereto. 
 ARTICLE XII 
 MISCELLANEOUS 
 Section 12.1 Vendor Contracts. Prior to the
Distribution, SnackCo and GroceryCo shall use reasonable best efforts to (a) negotiate with the current Third Party providers to separate and assign the applicable rights and obligations under each group insurance policy, health maintenance
organization, administrative services contract, Third Party administrator agreement, letter of understanding or arrangement that pertains to one or more SnackCo Benefit Plans and one or more GroceryCo Benefit Plans (each, a “Vendor
Contract” ) to the extent that such rights or obligations pertain to SnackCo Employees and Former SnackCo Business Employees and their respective Plan Payees or, in the alternative, to negotiate with the current Third Party providers to
provide substantially similar services to the SnackCo Benefit Plans on substantially similar terms under separate contracts with SnackCo or the SnackCo Benefit Plans and (b) to the extent permitted by the applicable Third Party provider, obtain
and maintain pricing discounts or other preferential terms under the Vendor Contracts. 
 Section 12.2 Further
Assurances. Prior to the Distribution, if either party identifies any commercial or other service that is needed to ensure a smooth and orderly transition of its business in connection with the consummation of the transactions contemplated
hereby, and that is not otherwise governed by the provisions of this Employee Matters Agreement, the parties will cooperate in determining whether there is a mutually acceptable arm’s-length basis on which the other party will provide such
service. 
 Section 12.3 Employment Taxes Withholding Reporting Responsibility. GroceryCo and SnackCo hereby agree to
follow the standard procedure for United States employment Tax withholding as provided in Section 4 of Rev. Proc. 2004-53, I.R.B. 2004-35. GroceryCo shall withhold and remit all employment taxes for the last payroll date preceding the
Distribution Date with respect to all current and former employees of SnackCo and GroceryCo who receive wages on such payroll date. 

  
 32 

 Section 12.4 Data Privacy. The parties agree that any applicable data privacy Laws
and any other obligations of the GroceryCo Group and the SnackCo Group to maintain the confidentiality of any employee information or information held by any Benefit Plans in accordance with applicable Law shall govern the disclosure of employee
information among the parties under this Employee Matters Agreement. GroceryCo and SnackCo shall ensure that they each have in place appropriate technical and organizational security measures to protect the personal data of the GroceryCo Employees,
Former GroceryCo Business Employees, SnackCo Employees and Former SnackCo Business Employees. 
 Section 12.5 Third Party
Beneficiaries. Nothing contained in this Employee Matters Agreement shall be construed to create any third-party beneficiary rights in any individual, including without limitation any GroceryCo Employee, SnackCo Employee, Former SnackCo Business
Employee or Former GroceryCo Business Employee (including any dependent or beneficiary thereof) nor shall this Employee Matters Agreement be deemed to amend any Benefit Plan or to prohibit SnackCo, GroceryCo or their respective Affiliates from
amending or terminating any Benefit Plan. 
 Section 12.6 Effect if Distribution Does Not Occur. If the Distribution does
not occur, then all actions and events that are, under this Employee Matters Agreement, to be taken or occur effective as of the Distribution, or otherwise in connection with the Distribution shall not be taken or occur except to the extent
specifically agreed by the parties. 
 Section 12.7 Incorporation of Separation Agreement Provisions. The following
provisions of the Separation Agreement are hereby incorporated herein by reference, and unless otherwise expressly specified herein, such provisions shall apply as if fully set forth herein (references in this Section 12.7 to an
“Article” or “Section” shall mean Articles or Sections of the Separation Agreement, and references in the material incorporated herein by reference shall be references to the Separation Agreement): Article IV (relating to Further
Assurances and Additional Agreements); Article V (relating to Mutual Releases; Indemnification); Article VI (relating to Exchange of Information; Litigation Management; Confidentiality); Article VII (relating to Dispute Resolution); and Article VIII
(relating to Miscellaneous). 
 Section 12.8 No Representation or Warranty. Kraft Foods Inc. makes no representation or
warranty with respect to any matter in this Employee Matters Agreement, including, without limitation, any representation or warranty with respect to the legal or Tax status or compliance of any Benefit Plan, compensation arrangement or Employment
Agreement, and Kraft Foods Inc. disclaims any and all liability with respect thereto. 
 [The remainder of this page is
intentionally left blank.] 

  
 33 

 IN WITNESS WHEREOF, the parties have caused this Employee Matters Agreement to be executed
by their duly authorized representatives. 
  

			
	KRAFT FOODS INC.
		
	By:	 	 
		 	 Name:

Title:

  

			
	KRAFT FOODS GROUP, INC.
		
	By:	 	 
		 	 Name:

Title:

 [Signature Page to Employee Matters Agreement]Form of Canadian Asset Transfer Agreement

 Exhibit 10.8 
 CANADIAN ASSET TRANSFER AGREEMENT 
 BETWEEN 

MONDELEZ CANADA INC. 
 AND 
 KRAFT CANADA INC. 

MADE AS OF 

                       
 , 2012 

 TABLE OF CONTENTS 

 

							
	 ARTICLE 1 - INTERPRETATION
	  	 	1	  
			
	     1.01
	 	Definitions	  	 	1	  
	     1.02
	 	Headings	  	 	7	  
	     1.03
	 	Extended Meanings	  	 	7	  
	     1.04
	 	Statutory References	  	 	7	  
	     1.05
	 	Currency	  	 	7	  
	     1.06
	 	Schedules	  	 	8	  
		
	 ARTICLE 2 - CONVEYANCE
	  	 	8	  
			
	     2.01
	 	Conveyance of the Canadian Snack Assets	  	 	8	  
	     2.02
	 	Canadian Grocery Assets	  	 	10	  
	     2.03
	 	Disclaimer of Representations and Warranties	  	 	10	  
	     2.04
	 	Consideration	  	 	11	  
	     2.05
	 	Payment of Consideration	  	 	11	  
	     2.06
	 	Allocation of Consideration	  	 	11	  
	     2.07
	 	Cash Transfer	  	 	12	  
	     2.08
	 	Misdirected Amounts and Misdirected Invoices	  	 	13	  
	     2.09
	 	Substitution and Subrogation	  	 	13	  
	     2.10
	 	Assumption of Canadian Snack Liabilities	  	 	14	  
	     2.11
	 	Retention of Canadian Grocery Liabilities	  	 	15	  
	     2.12
	 	Obligations and Liabilities Not Assumed	  	 	17	  
	     2.13
	 	Ancillary Agreements	  	 	17	  
		
	 ARTICLE 3 - GENERAL COVENANTS
	  	 	18	  
			
	     3.01
	 	Waiver of Bulk Sales Laws	  	 	18	  
	     3.02
	 	Real Property Matters	  	 	18	  
	     3.03
	 	Intellectual Property Matters	  	 	18	  
	     3.04
	 	Treatment of Personal Information	  	 	18	  
	     3.05
	 	Indemnification	  	 	19	  
		
	 ARTICLE 4 - TAX MATTERS
	  	 	20	  
			
	     4.01
	 	Election under Subsection 85(1) of the Tax Act	  	 	20	  
	     4.02
	 	Stated Capital	  	 	21	  
	     4.03
	 	Transfer Taxes	  	 	21	  
	     4.04
	 	Property Taxes	  	 	22	  
	     4.05
	 	Excise Tax Act; Residency	  	 	22	  
		
	 ARTICLE 5 - EMPLOYEE MATTERS
	  	 	22	  
			
	     5.01
	 	Employees and Collective Agreements	  	 	22	  
	     5.02
	 	Offers of Employment	  	 	22	  
	     5.03
	 	Specified Incentive Plans	  	 	24	  

					
		
	 ARTICLE 6 - PENSIONS AND BENEFITS MATTERS
	  	25
			
	     6.01
	 	Assignment and Assumption of Registered Pension Plans	  	25
	     6.02
	 	Registered Pension Plan Transfers	  	25
	     6.03
	 	Group Registered Retirement Savings Plan	  	28
	     6.04
	 	Non-Registered Savings Plan Accounts	  	28
	     6.05
	 	Supplemental Top Up Plans	  	28
	     6.06
	 	Post-Retirement Health and Welfare Benefits	  	28
	     6.07
	 	Long-Term Disability Liabilities	  	29
		
	 ARTICLE 7 - CLOSING ARRANGEMENTS AND TERMINATION
	  	29
			
	     7.01
	 	Closing	  	29
	     7.02
	 	Survival	  	29
	     7.03
	 	Termination	  	29
		
	 ARTICLE 8 - GENERAL
	  	29
			
	     8.01
	 	Application of the Separation Agreement	  	29
	     8.02
	 	Application of the Tax Sharing Agreement	  	30
	     8.03
	 	Dispute Resolution	  	31
	     8.04
	 	Notices	  	31
	     8.05
	 	Governing Law	  	32
		 		  	
		 		  	
		 		  	
		 		  	
		 		  	

 Schedule 2.01(a): Specified Canadian Snack Assets 
 Schedule 2.01(e): Governmental Permits and Authorizations 
 Schedule 2.01(g): Contracts Related
Exclusively to the Canadian Snack Business 
 Schedule 2.01(h): Canadian Shared Contracts 

Schedule 2.01(i): Freehold Lands and Leasehold Lands 
 Schedule 2.01(l): Machinery and Equipment 
 Schedule 2.01(p): Owned Snack Intellectual Property

 Schedule 2.01(q): Canadian Intercompany IP Licenses 
 Schedule 2.02: Specified Canadian Grocery Assets 
 Schedule 2.06(5): Allocation of Consideration

 Schedule 2.10(a): Specified Canadian Snack Liabilities 
 Schedule 2.10(b): Canadian Snack Indebtedness 
 Schedule 2.11(a): Specified Canadian Grocery
Liabilities 
 Schedule 2.11(b): Canadian Grocery Indebtedness 
 Schedule 3.02(1): Sub-leasehold Lands 
 Schedule 3.05(2)(b): Specified Liabilities 

Schedule 5.01(1): Employees Transferring to the Purchaser 

  
 - ii -

 Schedule 5.01(2): Collective Agreements 
 Schedule 5.03(1): Specified Incentive Plans 
 Schedule 6.01(1): Stand-Alone Registered Pension
Plans 
 Schedule 6.01(2): Form of Assignment and Assumption Agreement 
 Schedule 6.02(1): Vendor Commingled Registered Pension Plans 

  
 - iii -

 CANADIAN ASSET TRANSFER AGREEMENT 

THIS AGREEMENT is made as at the Effective Time on the         day
of            , 2012 
 BETWEEN 

MONDELEZ CANADA INC., a corporation incorporated under the laws of Canada (the “Purchaser”) 

- and - 

KRAFT CANADA INC., a corporation amalgamated under the laws of Canada (the “Vendor”) 

WHEREAS pursuant to the Separation Agreement, SnackCo and GroceryCo have agreed to, among other things, cause their respective
Subsidiaries, including the Purchaser and the Vendor, to take certain actions necessary to effect the implementation of the Internal Reorganization and the transactions contemplated by the Separation Agreement; 

AND WHEREAS the Vendor is the owner of the Canadian Snack Assets and carries on the Canadian Snack Business; 

AND WHEREAS the Vendor desires to sell and the Purchaser desires to purchase the Canadian Snack Assets and the Canadian Snack Business
upon and subject to the terms and conditions set out in this Agreement. 
 NOW THEREFORE, in consideration of the covenants and
agreements herein contained, the parties agree as follows: 
 ARTICLE 1—INTERPRETATION 

1.01 Definitions 

Terms used in this Agreement that are defined in the Separation Agreement and that are not otherwise defined herein will have the same
meaning herein as in the Separation Agreement; provided, however, that, unless something in the subject matter or context is inconsistent therewith, for the purposes of this Agreement, references in such definitions to “Distribution Date”
or “Distribution” (when used in a temporal context) will be read as “Effective Time” (as defined in this Agreement). In this Agreement, unless something in the subject matter or context is inconsistent therewith: 

“Adjusted Pension Plan Transfer Amounts” has the meaning set out in Section 6.02(5). 

“Agreement” means this agreement, including its recitals and Schedules, as may be amended or modified from time to time. 

 “Assumed Liabilities” means all Canadian Snack Liabilities existing as of the Effective
Time, other than (i) the Specified Liabilities, (ii) any liability or obligation of the Vendor not reflected (in accordance with GAAP) on the most recent balance sheet of the Vendor and any liability or obligation of the Vendor arising or
assumed after the date of such balance sheet that, had it arisen or been assumed on or before such date and not discharged as of such date, would not have been reflected on such balance sheet if prepared in accordance with GAAP applied on a
consistent basis, subject to any discharge of such liabilities or obligations subsequent to the date of such balance sheet, and (iii) any liability or obligation not excluded under clause (ii) above under any contract with a third party to
the extent that the third party has not performed its obligations under the contract prior to the Effective Time and where such performance is to be for the benefit of the Purchaser after the Effective Time. 

“Business Day” means a day other than a Saturday, Sunday or other day on which commercial banks in New York, New York or Toronto,
Ontario are authorized or required by law to close. 
 “Butterfly Determination Time” means the time immediately before the
transfer by the Vendor of all of the issued and outstanding shares of the Purchaser to 1681762 Alberta ULC (referred to in the Tax Ruling as “TSub”), as described in Paragraph 89 of the Tax Ruling. 

“Butterfly Percentage” means the proportion, expressed as a percentage, that the net fair market value of the business property
transferred indirectly by the Vendor to Mondelez Canada Holdings ULC (referred to in the Tax Ruling as “TCo”), as described in paragraph 89 of the Tax Ruling, is of the net fair market value of all the business property of the Vendor,
determined (i) at the Butterfly Determination Time, and (ii) using the principles set out in paragraphs 82 to 84 of the Tax Ruling (including allocating and deducting, in the manner described in paragraphs 82 and 84, the amount of the
liabilities assumed by the Purchaser hereunder). 
 “Cadbury Bonds Guarantee” means the guarantee dated December 1, 2003
made by Cadbury Beverages Canada Inc. (now Kraft Canada Inc.), jointly and severally with Cadbury Schweppes Public Company Limited and Cadbury Schweppes Finance P.L.C., in favour of each holder of a note issued pursuant to the indenture dated as of
September 29, 2003 between Cadbury Schweppes US Finance LLC, Cadbury Schweppes Public Company Limited, Cadbury Schweppes Finance P.L.C. and JPMorgan Chase Bank, as such indenture has been supplemented by a first supplemental indenture dated as
of September 29, 2003, a second supplemental indenture dated as of December 1, 2003 and a third supplemental indenture dated as of October 6, 2010, and as it may be further supplemented or amended from time to time. 

“Canadian Grocery Assets” means all Assets of the Vendor that constitute GroceryCo Assets, including those listed or described on
Schedule 2.02, but in all cases save and except for the Canadian Snack Assets. 
 “Canadian Grocery Business” means the
business and operations conducted by the Vendor at any time prior to the Effective Time that constitute part of the GroceryCo Business. 

“Canadian Grocery Liabilities” means all Liabilities of the Vendor that constitute GroceryCo Liabilities, including those listed or
described in Section 2.11, but in all cases save and except for the Canadian Snack Liabilities. 
 “Canadian Income Tax”
has the meaning ascribed thereto in the Tax Sharing Agreement. 

  
 - 2 -

 “Canadian Intercompany IP Licenses” means, collectively, the Incoming Intercompany IP
Licenses and the Outgoing Intercompany IP Licenses. 
 “Canadian Snack Assets” means all Assets of the Vendor that constitute
SnackCo Assets, including those Assets listed or described in Section 2.01. 
 “Canadian Snack Business” means the
business and operations conducted by the Vendor at any time prior to the Effective Time that constitute part of the SnackCo Business. 

“Canadian Snack Liabilities” means all Liabilities of the Vendor that constitute SnackCo Liabilities, including those listed or
described in Section 2.10. 
 “Canadian Transaction Tax” has the meaning ascribed thereto in the Tax Sharing Agreement.

 “Cash Equivalents” means all certificates of deposit and other cash equivalents and all amounts owing to the Vendor from
persons related to the Vendor for purposes of the Tax Act (other than accounts receivable and any amounts owing by any corporation or partnership described in paragraph 82(g) of the Tax Ruling). 

“Cash or Near Cash Property” means property of the Vendor that is treated as cash or near cash property, determined (i) at the
Butterfly Determination Time, and (ii) using the principles set out in paragraphs 82 to 84 of the Tax Ruling. 
 “Closing
Date” means the date hereof. 
 “Closing Timeline” means the closing timeline setting out, with respect to the
transactions contemplated by the Separation Agreement, the list of documents to be exchanged between the various parties to such agreements and the applicable terms of escrow and release of escrow, including the times at which various deliveries of
documents are made and the transactions contemplated thereby become effective. 
 “Collective Agreements” has the meaning set
out in Section 5.01(2). 
 “Consideration” has the meaning set out in Section 2.04. 

“CRA” means the Canada Revenue Agency. 
 “Effective Time” means the time referred to as the effective time of the transactions contemplated by this Agreement in the Closing Timeline. 

“Elected Amount” in respect of an Elected Property means the amount agreed to by the Vendor and the Purchaser in their joint election
pursuant to Section 4.01. 
 “Elected Property” means eligible property within the meaning of subsection 85(1.1) of the
Tax Act in respect of which an election has been or will be made as provided in Section 4.01. 
 “Employees” has the
meaning set out in Section 5.01(1). 
 “FIN 45 Indemnity Obligation” has the meaning ascribed thereto in the Tax Sharing
Agreement. 

  
 - 3 -

 “FIN 45 TSA Receivable” has the meaning ascribed thereto in the Tax Sharing Agreement.

 “Forco Interests” means the shares and partnership interests described in clauses (i) and (ii) (A) and
(H) of the definition of “Subsidiary Interests”, and all liabilities and obligations owed to the Vendor by such entities. 

“Freehold Lands” means the freehold real property listed or described on Schedule 2.01(i) and all rights, interests, entitlements,
benefits and privileges of any nature or kind whatsoever related exclusively to such freehold real property, including all rights of way, licences or rights of occupation, easements or other similar rights of the Vendor in connection with such
freehold real property. 
 “Greencastle Obligation” means all liabilities and obligations of the Vendor to or in favour of
Kraft Canada Two LP under the loan agreement made as of May 22, 2001 between Greencastle Drinks Limited (now Greencastle Drinks) and Trebor Canada Inc. (now Kraft Canada Inc.), as amended pursuant to an amendment agreement dated
            , 2012, as such loan agreement has been assigned by Greencastle Drinks to Kraft Foods North America and Asia BV, and as subsequently assigned by Kraft Foods North America and
Asia BV to Yellowcastle Limited, and as subsequently assigned by Yellowcastle Limited to Kraft Canada Two LP. 
 “Incoming Intercompany
IP Licenses” means all licenses of Intellectual Property between any GroceryCo Entity or SnackCo Entity, as licensor, and the Vendor, as licensee, including those licenses listed in Part A of Schedule 2.01(q). 

“Intellectual Property” means intellectual property of any nature and kind including all domestic and foreign trade-marks, business
names, trade names, domain names, social media accounts and passwords, trading styles, patents, trade secrets, Software, industrial designs and copyrights, whether registered or unregistered, and all applications for registration thereof, and
inventions, formulae, recipes, product formulations, processes and processing methods, technology and techniques and know-how. 

“Inventories” means all inventories Related to the Canadian Snack Business, including all raw materials, ingredients, stores, spare
parts, finished goods, work in progress and other items of inventory. 
 “Lands” means, collectively, the Freehold Lands, the
Leasehold Lands and the Sub-leasehold Lands. 
 “Leasehold Lands” means the interest in the leased premises and the leases or
subleases, as applicable, listed or described on Schedule 2.01(i) (which, for greater certainty, specifically excludes the Sub-leasehold Lands), together with all rights, benefits and advantages to be derived therefrom, including all improvements,
appurtenances, fixtures and leasehold improvements situate on or forming part of such premises. 
 “Non-Income Tax” has the
meaning ascribed thereto in the Tax Sharing Agreement. 
 “Non-Union Employees” has the meaning set out in
Section 5.02(1). 

  
 - 4 -

 “Outgoing Intercompany IP Licenses” means all licenses of Intellectual Property between any
GroceryCo Entity or SnackCo Entity, as licensee, and the Vendor, as licensor, including those licenses listed in Part B of Schedule 2.01(q). 

“Owned Snack Intellectual Property” has the meaning set out in Section 2.01(p). 

“Owned Software” means all Software Related to the Canadian Snack Business. 
 “Pension Plan Transfer Amounts” has the meaning set out in Section 6.02(3). 

“Personal Information” means the type of information regulated by Privacy Laws and collected, retained, used or disclosed by the Vendor,
including information about an identifiable individual, such as an individual’s name, address, age, gender, identification number, income, family status, citizenship, employment, assets, liabilities, source of funds, payment records, credit
information, personal references and health records. 
 “Privacy Laws” means all federal, provincial, municipal or other laws
governing the collection, use, disclosure and storage of Personal Information, including the Personal Information Protection and Electronic Documents Act (Canada). 
 “Purchaser Shares” means 999,999 common shares in the capital of the Purchaser to be issued to the Vendor pursuant to Section 2.05(b). 

“Related to the Canadian Grocery Business” means owned or held immediately prior to the Effective Time by the Vendor and primarily
related to or primarily used in the Canadian Grocery Business. 
 “Related to the Canadian Snack Business” means owned or held
immediately prior to the Effective Time by the Vendor and primarily related to or primarily used in the Canadian Snack Business. 

“Residual Indemnity Obligation” has the meaning ascribed thereto in the Tax Sharing Agreement. 

“Residual TSA Receivable” has the meaning ascribed thereto in the Tax Sharing Agreement. 

“Separation Agreement” means the separation and distribution agreement dated
                        , 2012 between Kraft Foods Inc. and Kraft Foods Group, Inc., as may be amended or modified from time to
time. 
 “SnackCo Brand IP” has the meaning ascribed thereto in the IP Agreement (Trademark). 

“SnackCo Canada Cash” means an amount of cash and Cash Equivalents of or standing to the credit of the Vendor immediately prior to the
Effective Time such that, after giving effect to the transactions contemplated in this Agreement, the Vendor will have transferred to the Purchaser the Butterfly Percentage of the Cash or Near Cash Property. 

“SnackCo Incentive Plans” has the meaning set out in Section 5.03(1). 

  
 - 5 -

 “SnackCo Pension Plans” has the meaning set out in Section 6.02(1). 

“Software” means all software, including all versions thereof, and all related documentation, manuals, source code and object code,
program files, data files, computer related data, field and data definitions and relationships, data definition specifications, data models, program and system logic, interfaces, program modules, routines, sub-routines, algorithms, program
architecture, design concepts, system designs, program structure, sequence and organization, screen displays and report layouts, and all other material related to such software. 
 “Specified GroceryCo Accounts Receivable” means all accounts receivable of the Vendor (including all accounts receivable from any SnackCo Entity and from any GroceryCo Entity) that
constitute a GroceryCo Asset under the Separation Agreement and the trade accounts receivable of the Vendor outstanding as of the Effective Time that arose from sales through the warehouse channel, whether or not such products are included in the
SnackCo Business or the GroceryCo Business. 
 “Specified Incentive Plans” means those incentive plans listed or described on
Schedule 5.03(1). 
 “Specified Indemnity Obligation” has the meaning ascribed thereto in the Tax Sharing Agreement.

 “Specified Liabilities” means, collectively, that portion of the Canadian Snack Liabilities that are specifically identified
on Schedule 3.05(2)(b) as being Specified Liabilities. 
 “Specified TSA Receivable” has the meaning ascribed thereto in the
Tax Sharing Agreement. 
 “Stand-Alone Registered Pension Plans” has the meaning set out in Section 6.01(1). 

“Sublease Agreements” means the subleases to be entered into between the Vendor, as sub-landlord, and the Purchaser, as sub-tenant, with
respect to the entire portion of each of the respective Sub-leasehold Lands, each in such form as may be agreed between the parties thereto. 

“Sub-leasehold Lands” means the lands listed or described on Schedule 3.02(1), together with all rights, benefits and advantages to be
derived there from, including all improvements, appurtenances, fixtures and leasehold improvements situate on or forming part of such lands. 

“Subsidiary Interests” means, collectively, (i) all of the limited partnership interests in Kraft Foods Australia Investments
Limited Partnership, (ii) all of the issued and outstanding shares in the capital of (A) Kraft Australia Pty Ltd., (B) Kraft Asia Pacific (Alberta) GP ULC, (C) Kraft Holdings ULC, (D) Lowney Inc., (E) Freezer Queen
Foods (Canada) Limited, (F) Neilson International Ltd., (G) TCI Realty Holdings Inc., (H) Nabisco Holdings I B.V., and (I) CS Finance Inc. (including, those registered in the name of the Vendor and those held by Cadbury Schweppes
Overseas Limited in trust for the Vendor), and (iii) all of the liabilities and obligations owed to the Vendor by Kraft Holdings ULC and by Kraft Asia Pacific (Alberta) GP ULC. 
 “Tax” has the meaning ascribed thereto in the Tax Sharing Agreement. 

“Tax Act” means the Income Tax Act (Canada). 

  
 - 6 -

 “Tax Ruling” means the advance income tax rulings and opinions from the CRA confirming the
Canadian federal income tax consequences of certain aspects of the Internal Reorganization, including all amendments or supplements thereto. 

“Transfer Taxes” has the meaning set out in Section 4.03. 
 “Transferred Accounts Receivable” means (i) all accounts receivable of the Vendor (including all accounts receivable from any SnackCo Entity and from any GroceryCo Entity) to the
extent Related to the Canadian Snack Business and (ii) any other accounts receivable of the Vendor listed or described on Schedule 2.01(a), but in all cases save and except for the Specified GroceryCo Accounts Receivable. 

“Transferred Employees from Commingled Plans” has the meaning set out in Section 6.02(1). 

“Unionized Employees” has the meaning set out in Section 5.02(2). 
 “Vendor Commingled Registered Pension Plans” has the meaning set out in Section 6.02(1). 
 1.02 Headings 
 The division of this Agreement into Articles and
Sections and the insertion of a table of contents and headings are for convenience of reference only and do not affect the construction or interpretation of this Agreement. The terms “hereof”, “hereunder” and similar expressions
refer to this Agreement and not to any particular Article, Section or other portion hereof. Unless something in the subject matter or context is inconsistent therewith, references herein to Articles, Sections and Schedules are to Articles and
Sections of and Schedules to this Agreement. 
 1.03 Extended Meanings 

In this Agreement words importing the singular number include the plural and vice versa, and words importing any gender include all
genders. The term “including” means “including without limiting the generality of the foregoing” and the term “third party” means any Person other than the Vendor and the Purchaser. 

1.04 Statutory References 
 In this Agreement, unless something in the subject matter or context is inconsistent therewith or unless otherwise herein provided, a reference to any statute is to that statute as now enacted or as the
same may from time to time be amended, re-enacted or replaced and includes any regulations made thereunder. 
 1.05 Currency

 Unless otherwise specified, all references to currency herein are to lawful money of Canada. 

  
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 1.06 Schedules 
 The following are the Schedules to this Agreement: 
  

					
	Schedule 2.01(a)	 	—  	  	Specified Canadian Snack Assets;
	Schedule 2.01(e)	 	—  	  	Governmental Permits and Authorizations;
	Schedule 2.01(g)	 	—  	  	Contracts Related Exclusively to the Canadian Snack Business;
	Schedule 2.01(h)	 	—  	  	Canadian Shared Contracts;
	Schedule 2.01(i)	 	—  	  	Freehold Lands and Leasehold Lands;
	Schedule 2.01(l)	 	—  	  	Machinery and Equipment;
	Schedule 2.01(p)	 	—  	  	Owned Snack Intellectual Property;
	Schedule 2.01(q)	 	—  	  	Canadian Intercompany IP Licenses;
	Schedule 2.02	 	—  	  	Specified Canadian Grocery Assets;
	Schedule 2.06(5)	 	—  	  	Allocation of Consideration;
	Schedule 2.10(a)	 	—  	  	Specified Canadian Snack Liabilities;
	Schedule 2.10(b)	 	—  	  	Canadian Snack Indebtedness;
	Schedule 2.11(a)	 	—  	  	Specified Canadian Grocery Liabilities;
	Schedule 2.11(b)	 	—  	  	Canadian Grocery Indebtedness;
	Schedule 3.02(1)	 	—  	  	Sub-leasehold Lands;
	Schedule 3.05(2)(b)	 	—  	  	Specified Liabilities;
	Schedule 5.01(1)	 	—  	  	Employees Transferring to the Purchaser;
	Schedule 5.01(2)	 	—  	  	Collective Agreements;
	Schedule 5.03(1)	 	—  	  	Specified Incentive Plans;
	Schedule 6.01(1)	 	—  	  	Stand-Alone Registered Pension Plans;
	Schedule 6.01(2)	 	—  	  	Form of Assignment and Assumption Agreement; and
	Schedule 6.02(1)	 	—  	  	Vendor Commingled Registered Pension Plans.

 ARTICLE 2—CONVEYANCE 
 2.01 Conveyance of the Canadian Snack Assets 
 Upon and subject to
the terms and conditions of this Agreement, the Vendor hereby assigns, conveys, transfers and sets over to the Purchaser, and the Purchaser hereby accepts such assignment, conveyance and transfer, as of and with effect from the Effective Time, all
of the right, title, benefit and interest of the Vendor in and to the Canadian Snack Assets. Without limiting the generality of the foregoing, the Canadian Snack Assets include all of the right, title, benefit and interest of the Vendor in and to:

  

	 	(a)	the Assets listed or described on Schedule 2.01(a) (which, for the avoidance of doubt, is not a comprehensive listing of all Canadian Snack Assets and is not intended
to limit the other clauses of this Section 2.01) and all other Assets that are expressly provided in this Agreement as Assets to be transferred to the Purchaser; 

 

	 	(b)	the SnackCo Canada Cash; 

  

	 	(c)	the Subsidiary Interests; 

  
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	 	(d)	except as otherwise provided in this Agreement, all Assets reflected as assets of the Purchaser on the SnackCo Balance Sheet and any Assets acquired by or for the
Purchaser subsequent to the date of the SnackCo Balance Sheet that, had they been acquired on or before such date and owned as of such date, would have been reflected on the SnackCo Balance Sheet if prepared in accordance with GAAP applied on a
consistent basis, subject to any dispositions of any such Assets subsequent to the date of the SnackCo Balance Sheet; 

  

	 	(e)	all approvals, registrations, permits and authorizations issued by any Governmental Authority that relate exclusively to the Canadian Snack Business or the Canadian
Snack Assets and are held in the name of the Vendor, including those listed or described on Schedule 2.01(e); 

  

	 	(f)	all recoveries and other Assets (net of expenses) received by the Vendor or the Purchaser in respect of any SnackCo Action; 

 

	 	(g)	all contracts and agreements that are related exclusively to the Canadian Snack Business and to which the Vendor is a party or by which the Vendor is bound or under
which the Vendor has rights, including those listed or described on Schedule 2.01(g); 

  

	 	(h)	subject to Section 2.01(q), the SnackCo Portion of any Shared Contract to which the Vendor is a party or by which the Vendor is bound or under which the Vendor has
rights, including those listed or described on Schedule 2.01(h); 

  

	 	(i)	the beneficial interest in the Freehold Lands and the legal and beneficial interest in the Leasehold Lands; 

 

	 	(j)	all plant, buildings, structures, erections, improvements, appurtenances and fixtures situate on or forming part of the Lands (and all plans, surveys, specifications
and appraisals in the Vendor’s possession or under its control relating to any of the foregoing, including all such electrical, mechanical and structural drawings related thereto as are in the possession or under the control of the Vendor);

  

	 	(k)	all fixed machinery and fixed equipment situate on or forming part of the Lands; 

 

	 	(l)	all other machinery and equipment and all vehicles, tools, handling equipment, furniture, furnishings, computer hardware, Software and peripheral equipment, supplies
and accessories situate on the Lands or otherwise Related to the Canadian Snack Business, including those listed or described on Schedule 2.01(l); 

  

	 	(m)	the Inventories; 

  

	 	(n)	all shipping and packaging materials and supplies Related to the Canadian Snack Business; 

 

	 	(o)	the Transferred Accounts Receivable; 

  

	 	(p)	all Intellectual Property Related to the Canadian Snack Business (the “Owned Snack Intellectual Property”), including the Intellectual Property listed
or described on Schedule 2.01(p); 

  
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	 	(q)	the Incoming Intercompany IP Licenses to the extent related to any SnackCo Brand IP, and the Outgoing Intercompany IP Licenses to the extent related to any Owned Snack
Intellectual Property (for greater certainty, the Vendor will retain all right, title, benefit and interest of the Vendor in and to (A) the Incoming Intercompany IP Licenses to the extent not related to SnackCo Brand IP, and (B) the
Outgoing Intercompany IP Licenses to the extent not related to Owned Snack Intellectual Property); 

  

	 	(r)	the goodwill of the Canadian Snack Business; 

  

	 	(s)	subject to Section 4.04, all pre-paid expenses and deposits Related to the Canadian Snack Business including all pre-paid insurance, rent and royalties, all
pre-paid property taxes and water rates, all pre-paid purchases of gas, oil and hydro, all pre-paid lease payments and all pre-paid employee items referred to in Section 5.02(3); and 

 

	 	(t)	any FIN 45 TSA Receivables of the Vendor, and any Specified TSA Receivables of the Vendor with respect to a Tax that would be a Canadian Snack Liability;

 provided, however, that the Canadian Snack Assets will not include: 

 

	 	(i)	any Asset referred to in Sections 2.01(j), 2.01(k) or 2.01(l) respecting the Leasehold Lands or Sub-leasehold Lands where, pursuant to the lease or sublease governing
the Vendor’s occupancy of thereof, such Asset is not capable of being assigned, conveyed, transferred or set over to the Purchaser as contemplated by Section 2.01; or 

 

	 	(ii)	except as set forth in Section 2.01(t), any right, title, benefit and interest of the Vendor in and to any refunds, offsets or credits of Taxes (including any
Residual TSA Receivables of the Vendor). 

 2.02 Canadian Grocery Assets 

Notwithstanding any other provision of this Agreement to the contrary, the Vendor will retain all of the Canadian Grocery Assets. 

2.03 Disclaimer of Representations and Warranties 
 Each of the Vendor and the Purchaser understands and agrees that, except as expressly set forth in the Separation Agreement, this Agreement, the Tax Sharing Agreement or in any other Ancillary Agreement,
no party (including its Affiliates) to the Separation Agreement, this Agreement, the Tax Sharing Agreement any other Ancillary Agreement or any other agreement or document contemplated by the Separation Agreement, this Agreement, the Tax Sharing
Agreement or any other Ancillary Agreement or otherwise, makes any representations or warranties relating in any way to the Assets, businesses or Liabilities transferred or assumed as contemplated hereby or thereby, to any Consent required in
connection therewith, to the value or freedom from any Security Interests of, or any other matter concerning, any Assets of such party, or to the absence of any defenses or right of setoff or freedom from counterclaim with respect to any claim or
other Asset, 

  
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including any accounts receivable, of any party, or to the legal sufficiency of any assignment, document or instrument delivered hereunder to convey title to any Asset or thing of value upon the
execution, delivery and filing hereof or thereof. Except as may expressly be set forth in the Separation Agreement, this Agreement, the Tax Sharing Agreement or in any other Ancillary Agreement, (a) the parties and the members of their
respective Group are transferring all such Assets on an “as is,” “where is” basis, (b) the parties are expressly disclaiming any implied warranty of merchantability, fitness for a specific purpose or otherwise, (c) the
respective transferees will bear the economic and legal risks that any conveyance will prove to be insufficient to vest in the transferee good and marketable title, free and clear of any Security Interest and (d) none of the Vendor or the
Purchaser (including their Affiliates) or any other Person makes any representation or warranty with respect to any information, documents or material made available in connection with the Separation or the Distribution, or the entering into of the
Separation Agreement, this Agreement, the Tax Sharing Agreement or any other Ancillary Agreement or the transactions contemplated hereby or thereby, except as expressly set forth in the Separation Agreement, this Agreement, the Tax Sharing Agreement
or in any other Ancillary Agreement. 
 2.04 Consideration 

The consideration (the “Consideration”) payable by the Purchaser to the Vendor for the Canadian Snack Assets will be the
aggregate fair market value of the Canadian Snack Assets as at the Effective Time. 
 2.05 Payment of Consideration 

The Consideration will be payable and satisfied in full: 
  

	 	(a)	as to the portion of the Consideration equal to the amount of the Assumed Liabilities, by the assumption by the Purchaser of the Assumed Liabilities; and

  

	 	(b)	as to the balance of the Consideration, by the allotment, issuance and delivery by the Purchaser to the Vendor of the Purchaser Shares. 

2.06 Allocation of Consideration 
 (1) The Consideration will be allocated among the assets or classes of assets that comprise the Canadian Snack Assets as to an amount equal to the fair market value of each such asset or class immediately
before the Effective Time. 
 (2) The Assumed Liabilities assumed by the Purchaser in partial satisfaction of the Consideration
will be allocated as follows: 
  

	 	(a)	first, to assets or classes of assets that comprise the Canadian Snack Assets and are current assets (other than Elected Property and Forco Interests), up to the fair
market value thereof; 

  

	 	(b)	next, to assets or classes of assets that comprise the Canadian Snack Assets and are current assets and Elected Property (other than Forco Interests), up to the elected
amount in respect thereof; 

  
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	 	(c)	next, to assets or classes of assets that comprise the Canadian Snack Assets (other than current assets, Elected Property and Forco Interests), up to the fair market
value thereof; 

  

	 	(d)	next, to assets or classes of assets that comprise the Canadian Snack Assets and are Elected Property (other than current assets and Forco Interests), up to the elected
amount in respect thereof; 

  

	 	(e)	next, to assets or classes of assets that comprise Forco Interests (other than Elected Property), up to the fair market value thereof; 

 

	 	(f)	next, to assets or classes of assets that comprise Forco Interests and are Elected Property, up to the elected amount in respect thereof; and 

 

	 	(g)	next, to assets or classes of assets that comprise the Canadian Snack Assets, to the extent not already allocated to above. 

(3) The allocation within each of Sections 2.06(2)(a) through (g) above will be pro rata to the assets or classes of assets
that comprise the Canadian Snack Assets within the particular paragraph, and in no event will the amount of the Assumed Liabilities allocated to a particular asset or class of assets exceed the fair market value thereof. 

(4) The Purchaser Shares will be allocated to each asset or class of assets that comprise the Canadian Snack Assets to the extent that
the fair market value of the particular asset or class of assets immediately before the Effective Time exceeds any amount of the Assumed Liabilities allocated to that particular asset or class of assets as set out in Sections 2.06(2) and 2.06(3).

 (5) The allocations referred to in Sections 2.06(1) to 2.06(4) will be estimated by the Vendor, acting reasonably, within 90
days after the date hereof and such allocations will be attached as Schedule 2.06(5). 
 (6) The Vendor and the Purchaser must
each complete all tax returns, designations and elections in a manner consistent with such allocation and otherwise follow such allocation for all tax purposes on and subsequent to the Closing Date and not take any position inconsistent with such
allocation. If such allocation is disputed by any taxation or other Governmental Authority, the party receiving notice of such dispute will promptly notify the other party and the parties will use their reasonable best efforts to sustain such
allocation. The parties will share information and cooperate to the extent reasonably necessary to permit the transactions contemplated by this Agreement to be properly, timely and consistently reported. 

2.07 Cash Transfer 

From the Effective Time, the Vendor will have a liability and obligation to transfer to the Purchaser the SnackCo Canada Cash and the
Purchaser will have a liability and obligation to transfer to the Vendor cash in an amount equal to the amount by which any cash or Cash Equivalents received by it hereunder exceeds the amount of the SnackCo Canada Cash. On or before the date that
is 45 days after the Closing Date, the Vendor will transfer to the Purchaser cash and Cash Equivalents representing its estimate to that time of the amount of the SnackCo Canada Cash. For 

  
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greater certainty, (a) if, at any particular time, the amount of the cash and Cash Equivalents transferred up to such time is less than the amount ultimately determined to be the SnackCo
Canada Cash, the Vendor will have a continuing obligation to pay such shortfall to the Purchaser, and (b) if, at any particular time, the amount of the cash and Cash Equivalents transferred up to such time exceeds the amount ultimately
determined to be the SnackCo Canada Cash, the Purchaser will have a continuing obligation to pay cash to the Vendor equal to the amount of such excess. The Vendor and the Purchaser may represent such continuing obligations through promissory notes
issued to each other. To the extent that the Vendor has an obligation to transfer SnackCo Canada Cash to the Purchaser, the Vendor will satisfy such obligation first by transferring cash, thereafter any certificates of deposit, thereafter amounts
owing to the Vendor from persons related to the Vendor, and thereafter other Cash Equivalents, in each case, of or standing to the credit of the Vendor immediately prior to the Effective Time and constituting SnackCo Canada Cash. 

2.08 Misdirected Amounts and Misdirected Invoices 
 (1) Notwithstanding anything to the contrary in the Separation Agreement, where any amount in respect of a Canadian Snack Asset or the Canadian Snack Business is paid to or received by the Vendor or any
of its Affiliates or their respective successors after the Effective Time, the Vendor, its Affiliates or such successor will remit such amount to the Purchaser within 30 days following the end of the month during which the applicable amount was paid
or received. The parties will cooperate in good faith to effect and document such receipts and remittances in a commercially reasonable manner. 
 (2) Notwithstanding anything to the contrary in the Separation Agreement, where any amount in respect of a Canadian Grocery Asset or the Canadian Grocery Business is paid to or received by the Purchaser
or any of its Affiliates or their respective successors after the Effective Time, the Purchaser, its Affiliates or such successor will forthwith remit such amount to the Vendor within 30 days following the end of the month during which the
applicable amount was paid or received. The parties will cooperate in good faith to effect and document such receipts and remittances in a commercially reasonable manner. 
 (3) During the six-month period following the Closing Date, the Vendor will promptly upon receipt thereof forward to the Purchaser any invoice received by the Vendor and addressed to the Purchaser, and
the Purchaser will promptly upon receipt thereof forward to the Vendor any invoice received by the Purchaser and addressed to the Vendor (any invoice described in this sentence, a “Misdirected Invoice”). After such six-month period,
each of the Vendor and the Purchaser will return any Misdirected Invoices received by it to the applicable vendor for correction. 
 2.09
Substitution and Subrogation 
 The conveyance of the Canadian Snack Assets to the Purchaser, its successors and
permitted assigns, hereunder is with full rights of substitution and subrogation of the Purchaser, its successors and permitted assigns, to the extent possible, in and to all covenants, representations and warranties by others heretofore given or
made in respect of the Canadian Snack Assets or any part thereof. 

  
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 2.10 Assumption of Canadian Snack Liabilities 

Upon and subject to the terms and conditions of this Agreement, the Vendor hereby assigns to the Purchaser, and the Purchaser hereby
assumes and will duly and properly perform, fulfil, pay and discharge when due, the Canadian Snack Liabilities. Without limiting the generality of the foregoing, the Canadian Snack Liabilities include all Liabilities of the Vendor to the extent
relating to, arising out of or resulting from: 
  

	 	(a)	any matter listed or described on Schedule 2.10(a) and all other Liabilities that are expressly provided in this Agreement as Liabilities to be assumed by the
Purchaser, and all obligations and liabilities of the Purchaser under this Agreement; 

  

	 	(b)	the indebtedness of the Vendor listed on Schedule 2.10(b) (including any Liabilities relating to, arising out of or resulting from a claim by a holder of any such
indebtedness, in its capacity as such); 

  

	 	(c)	except as otherwise provided in this Agreement, the Liabilities reflected as liabilities or obligations on the SnackCo Balance Sheet, and all Liabilities arising or
assumed after the date of the SnackCo Balance Sheet that, had they arisen or been assumed on or before such date and been existing obligations as of such date, would have been reflected on the SnackCo Balance Sheet if prepared in accordance with
GAAP applied on a consistent basis, subject to any discharge of such Liabilities subsequent to the date of the SnackCo Balance Sheet; 

  

	 	(d)	any SnackCo Action; 

  

	 	(e)	all Unknown Environmental Liabilities associated with any current or former properties used in the operation of the Canadian Snack Business, including the facilities
listed or described on schedule 1.2(24) of the Separation Agreement and all existing and identified Environmental Liabilities of the Vendor or any of its Predecessors relating to events or conditions occurring or arising during the period prior to
the Effective Time that relate to any active facility owned or operated by any member of the SnackCo Group as of Effective Time and those set forth on schedule 1.2(14) of the Separation Agreement; 

 

	 	(f)	the terminated, divested or discontinued businesses or operations of the Vendor or any of its Subsidiaries or any of their respective Predecessors that are listed or
described on schedule 1.2(25) of the Separation Agreement; 

  

	 	(g)	the operation or conduct of the Canadian Snack Business, as conducted at any time prior to the Effective Time (including any Liability relating to, arising out of or
resulting from any act or failure to act by any director, officer, employee, agent or representative (whether or not such act or failure to act is or was within such person’s authority) which act or failure to act relates to the Canadian Snack
Business); 

  

	 	(h)	any Canadian Snack Asset; 

  
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	 	(i)	any Environmental Liability resulting from any properties included in or associated with the Canadian Snack Assets (including any business, operations or properties,
and any Liability resulting from off-site disposal of waste from such business, operations or properties, for which a current or future owner or operator of the Canadian Snack Assets or the Canadian Snack Business may be alleged to be responsible as
a matter of Law, contract or otherwise due to such ownership or operation of the Canadian Snack Assets or the Canadian Snack Business), arising on or after the Effective Time; 

 

	 	(j)	the Applicable SnackCo Proportion of any Shared Liability; 

  

	 	(k)	the Greencastle Obligation; 

  

	 	(l)	the Vendor’s obligations as a subsidiary guarantor under the Cadbury Bonds Guarantee; 

 

	 	(m)	all employment and registered and unregistered pension plan Liabilities to be assumed by the Purchaser pursuant to the terms of this Agreement;

  

	 	(n)	any FIN 45 Indemnity Obligations of the Vendor, and any Specified Indemnity Obligations of the Vendor that are attributable to any tax sharing/allocation, purchase and
sale, or similar agreements allocated to the SnackCo Group on schedule 1.2(16) of the Separation Agreement; and 

  

	 	(o)	except as set forth in Section 2.11(m) or as otherwise expressly provided in this Agreement, and without limiting Section 2.10(n), any obligations or
liabilities of the Purchaser for Taxes under the Tax Act or any other Taxes whatsoever that may be or become payable by the Purchaser. 

 The Vendor and the Purchaser ascribe no value to the Canadian Snack Liabilities that are not Assumed Liabilities and agree that such Liabilities either are Specified Liabilities or have no value. In the
event of any inconsistency or conflict that may arise in the application or interpretation of the foregoing provisions, for the purposes of determining what is and is not a Canadian Snack Liability, any item explicitly listed or referred to in this
Section 2.10 will take priority over the Liabilities listed or described herein as being Canadian Grocery Liabilities. 
 2.11
Retention of Canadian Grocery Liabilities 
 Upon and subject to the terms and conditions of this Agreement, the
Vendor will retain and will duly and properly perform, fulfil, pay and discharge when due the Canadian Grocery Liabilities. Without limiting the generality of the foregoing, the Canadian Grocery Liabilities include all Liabilities of the Vendor to
the extent relating to, arising out of or resulting from: 
  

	 	(a)	any matter listed or described on Schedule 2.11(a) and all other Liabilities that are expressly provided in this Agreement as Liabilities to be retained by the Vendor,
and all obligations and liabilities of the Vendor under this Agreement; 

  
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	 	(b)	the indebtedness of the Vendor listed on Schedule 2.11(b) (including any Liabilities relating to, arising out of or resulting from a claim by a holder of any such
indebtedness, in its capacity as such); 

  

	 	(c)	except as otherwise provided in this Agreement, the Liabilities reflected as liabilities or obligations on the GroceryCo Balance Sheet, and all Liabilities arising or
assumed after the date of the GroceryCo Balance Sheet that, had they arisen or been assumed on or before such date and been existing obligations as of such date, would have been reflected on the GroceryCo Balance Sheet if prepared in accordance with
GAAP applied on a consistent basis, subject to any discharge of such Liabilities subsequent to the date of the GroceryCo Balance Sheet; 

  

	 	(d)	any GroceryCo Action; 

  

	 	(e)	all Known Environmental Liabilities, except for those that relate to any active facility owned or operated by any member of the SnackCo Group as of Effective Time and
those set forth on schedule 1.2(14) of the Separation Agreement; 

  

	 	(f)	all Unknown Environmental Liabilities associated with any current or former properties used in the operation of the Canadian Grocery Business, including the facilities
listed or described on schedule 1.2(15) of the Separation Agreement; 

  

	 	(g)	all Liabilities to the extent relating to, arising out of or resulting from the terminated, divested or discontinued businesses or operations of the Vendor or any of
its Subsidiaries or any of their respective Predecessors that are listed or described on schedule 1.2(16) of the Separation Agreement; 

  

	 	(h)	the operation or conduct of the Canadian Grocery Business, as conducted at any time prior to the Effective Time (including any Liability relating to, arising out of or
resulting from any act or failure to act by any director, officer, employee, agent or representative (whether or not such act or failure to act is or was within such person’s authority) which act or failure to act relates to the Canadian
Grocery Business); 

  

	 	(i)	all employment and registered and unregistered pension plan Liabilities of the Vendor except to the extent such Liability is to be assumed by the Purchaser pursuant to
the terms of this Agreement; 

  

	 	(j)	any Canadian Grocery Asset; 

  

	 	(k)	any Environmental Liability resulting from any properties included in or associated with the Canadian Grocery Assets (including any business, operations or properties,
and any Liability resulting from off-site disposal of waste from such business, operations or properties, for which a current or future owner or operator of the Canadian Grocery Assets or the Canadian Grocery Business may be alleged to be
responsible as a matter of Law, contract or otherwise due to such ownership or operation of the Canadian Grocery Assets or the Canadian Grocery Business), arising on or after the Effective Time; 

  
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	 	(l)	the Applicable GroceryCo Proportion of any Shared Liability; 

  

	 	(m)	any Residual Indemnity Obligations of the Vendor that relate to Canadian Income Taxes or Non-Income Tax, and any Specified Indemnity Obligations of the Vendor that are
attributable to any tax sharing/allocation, purchase and sale, or similar agreements that are allocated to the GroceryCo Group on schedule 1.2(16) of the Separation Agreement; and 

 

	 	(n)	except as set forth in Section 2.10(n) or as otherwise expressly provided in this Agreement, and without limiting Section 2.11(m), any obligations or
liabilities of the Vendor for Taxes under the Tax Act or any other Taxes whatsoever that may be or become payable by the Vendor, including any income or corporation Taxes resulting from or arising as a consequence of the sale by the Vendor to the
Purchaser of the Canadian Snack Assets and the Canadian Snack Business hereunder. 

 In the event of any
inconsistency or conflict that may arise in the application or interpretation of the foregoing provisions, for the purposes of determining what is and is not a Canadian Grocery Liability, any item explicitly listed or referred to in this
Section 2.11 will take priority over the Liabilities listed or described herein as being Canadian Snack Liabilities. 
 2.12
Obligations and Liabilities Not Assumed 
 Except as otherwise provided in this Agreement, the Purchaser does not
assume and will not be liable for any obligations or liabilities of the Vendor whatsoever. 
 2.13 Ancillary Agreements

 The Vendor and the Purchaser each acknowledge that an Affiliate or Affiliates of each of them have entered into the Ancillary
Agreements (other than this Agreement), including the Employee Matters Agreement, the IP Agreement (Non-Trademark), the IP Agreement (Trademark), the Supply Agreement, the Tax Sharing Agreement, the Transition Services Agreements and the Warehouse
Agreement in connection with the implementation of the transactions contemplated by the Separation Agreement, including the Internal Reorganization. It is intended that nothing in those agreements or the Separation Agreement will effect, constitute
or change the timing of (i) any transfer, assignment, conveyance or other disposition of, or any amendment, modification, supplement or other change of or to, any right, title, interest or benefit in any Asset owned or held by the Vendor, the
Purchaser or any of their direct or indirect subsidiaries (including partnerships), or (ii) any transfer, assumption, forgiveness or release of, or any amendment, modification, supplement or other change of or to, any Liabilities of the Vendor,
the Purchaser or any of their direct or indirect subsidiaries (including partnerships). Rather, it is intended that this Agreement would be entered into to implement the transactions set out in those agreements and the Separation Agreement as they
relate to the Assets and Liabilities of the Vendor, the Purchaser and their direct and indirect subsidiaries (including partnerships). Nevertheless, to the extent that any of those agreements or the Separation Agreement create rights or obligations
in respect of the Assets or Liabilities of the Vendor or the Purchaser (or any of their direct or indirect subsidiaries (including partnerships), as the case may be), the obligations and entitlements of GroceryCo or a GroceryCo Entity will, to the
extent permissible, be performed or received by the Vendor (or the subsidiary of the Vendor, as the case may be) and the obligations and entitlements of SnackCo or a SnackCo Entity will, to the extent permissible, be performed or received by the
Purchaser (or the subsidiary of the Purchaser, as the case may be). 

  
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 ARTICLE 3—GENERAL COVENANTS 

3.01 Waiver of Bulk Sales Laws 
 The parties hereby waive compliance with the Bulk Sales Act (Ontario) and section 6 of the Retail Sales Tax Act (Ontario) and equivalent Laws in other provinces to the extent such Laws would
be applicable to the transactions contemplated by this Agreement. 
 3.02 Real Property Matters 

 

	 	(1)	At or before the Effective Time the Vendor and the Purchaser will have entered into the Sublease Agreements. 

 

	 	(2)	To further evidence the assignment, transfer and conveyance of the Freehold Lands and the Leasehold Lands in Section 2.01 hereof, the Vendor and the Purchaser will
enter into and deliver (i) a beneficial transfer of the Freehold Lands, and (ii) an assignment of leases in connection with the Leasehold Lands. 

  

	 	(3)	At or before the Effective Time the Vendor, as grantor, and the Purchaser, as grantee, will have entered into a shared warehouse agreement with respect to a portion of
the leased premises described municipally as 5801 72nd Ave. S.E., Calgary, Alberta, in such form as may be agreed between the parties thereto. 

 3.03 Intellectual Property Matters 
 Without limiting the generality
of section 4.1 of the Separation Agreement, after the Closing Date each party will, at the request of the other party, cooperate with the other party, and without any further consideration, to (i) execute and deliver, or use its reasonable best
efforts to cause to be executed and delivered, restated versions of any or all of the Canadian Intercompany IP Licenses to reflect the assignment or partial assignment, as the case may be, of such Canadian Intercompany IP Licenses by the Vendor and
the assumption thereof by the Purchaser hereunder, and (ii) take all such other actions as such party may reasonably be requested to take by any other party from time to time, consistent with the terms of this Agreement in order to effectuate,
record or otherwise further evidence the assignment, transfer and conveyance of the Owned Snack Intellectual Property. 
 3.04 Treatment
of Personal Information 
 With respect to any Personal Information conveyed to the Purchaser hereunder, the Purchaser
will collect, use, disclose and store such Personal Information only in accordance with the purposes for which individual consent was obtained by the Vendor, or for which individual consent is subsequently obtained by the Purchaser, and for no other
purposes. The Purchaser will take all necessary steps directed to ensuring that the collection, use, disclosure and storage by the Purchaser of such Personal Information will comply in all material respects with all Privacy Laws to the extent

  
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the Purchaser is required to do so, and will be subject to Purchaser privacy policies which are substantially the same as the Vendor’s privacy policies as at the Closing Date. Except where
Personal Information that is duplicated and retained by the Vendor because individual consent was also obtained to use such Personal Information in connection with the Canadian Grocery Business (or, in the case of Personal Information of an
Employee, consent was obtained to use such Personal Information in connection with the administration of such Employee’s employment with the Vendor), or where Personal Information is required to be retained by the Vendor to comply with Privacy
Laws or the Vendor’s privacy policies, the Vendor will delete any Personal Information conveyed to the Purchaser hereunder. 
 3.05
Indemnification 
 (1) The Purchaser will indemnify, defend and hold harmless the Vendor and each of its current,
former and future directors, officers and employees, and each of the heirs, administrators, executors, successors and assigns of any of the foregoing from and against: 
  

	 	(a)	the Canadian Snack Liabilities, other than the Specified Liabilities; 

  

	 	(b)	the operation or conduct of any business conducted by the Purchaser at any time after the Effective Time (including any Liability relating to, arising out of or
resulting from any act or failure to act by any director, officer, employee, agent or representative (whether or not such act or failure to act is or was within such person’s authority) and from all packaging levy obligations arising out of or
relating to the sale of any products by the Purchaser at any time after the Effective Time); and 

  

	 	(c)	all liabilities, costs, expenses (including reasonable expenses of investigation and attorney’s fees and expenses), losses, damages, assessments, settlements or
judgments arising out of or incident to the imposition, assessment or assertion of any of the foregoing. 

 (2)
The Vendor will indemnify, defend and hold harmless the Purchaser and each of its current, former and future directors, officers and employees, and each of the heirs, administrators, executors, successors and assigns of any of the foregoing from and
against: 
  

	 	(a)	the Canadian Grocery Liabilities; 

  

	 	(b)	the Specified Liabilities; 

  

	 	(c)	the operation or conduct of any business conducted by the Vendor at any time after the Effective Time (including any Liability relating to, arising out of or resulting
from any act or failure to act by any director, officer, employee, agent or representative (whether or not such act or failure to act is or was within such person’s authority)); and 

 

	 	(d)	all liabilities, costs, expenses (including reasonable expenses of investigation and attorney’s fees and expenses), losses, damages, assessments, settlements or
judgments arising out of or incident to the imposition, assessment or assertion of any of the foregoing. 

  
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 ARTICLE 4—TAX MATTERS 

4.01 Election under Subsection 85(1) of the Tax Act 
 (1) The parties will jointly elect under subsection 85(1) of the Tax Act with respect to the transfer of each “eligible property” (as defined in the Tax Act) included in the Canadian Snack
Assets, except for the accounts receivable. Such election will be prepared by the Vendor and filed by the Vendor and the Purchaser in the form and manner and within the time prescribed by the Tax Act. The agreed amount in respect of each of the
eligible properties transferred will be as follows: 
  

	 	(a)	in the case of capital property (other than depreciable property of a prescribed class) and inventory, an amount equal to the lesser of the amounts described in
subparagraphs 85(1)(c.1)(i) and (ii) of the Tax Act; 

  

	 	(b)	in the case of depreciable property of a prescribed class, an amount equal to the least of the amounts described in subparagraphs 85(1)(e)(i), (ii) and
(iii) of the Tax Act; and 

  

	 	(c)	in the case of eligible capital property, an amount equal to the least of the amounts described in subparagraphs 85(1)(d)(i), (ii) and (iii) of the Tax Act.

 (2) For the purposes of the joint election referred to in Section 4.01(1)(b), the reference in
subparagraph 85(1)(e)(i) of the Tax Act to the “undepreciated capital cost to the taxpayer of all the property of that class immediately before the disposition” will be interpreted to mean that proportion of the undepreciated capital cost
to the Vendor of all of the property of that class immediately before the Effective Time that the fair market value at that time of the asset that is transferred is of the fair market value at that time of all property of that class. 

(3) For the purposes of the joint elections referred to in Section 4.01(1)(c), if the Vendor so determines, the reference in
subparagraph 85(1)(d)(i) of the Tax Act to “4/3 of the taxpayer’s cumulative eligible capital in respect of the business immediately before the disposition” will be interpreted to mean the proportion of 4/3 of the Vendor’s
cumulative eligible capital in respect of its business immediately before the transfer to the Purchaser that the transferred eligible capital property in respect of the business (based on fair market value at that time or the amount of the
cumulative eligible capital that is attributable to those assets, as determined by the Vendor) is of all of the Vendor’s eligible capital property in respect of the business (based on fair market value at that time or the amount of the
cumulative eligible capital that is attributable to those assets, as determined by the Vendor), and the Vendor and the Purchaser will so indicate in their joint election. 
 (4) The Purchaser will, at the request of the Vendor, jointly elect with the Vendor under corresponding provisions of applicable provincial income tax legislation with respect to the transfer of the
Canadian Snack Assets. The provisions of Sections 4.01(1), 4.01(2) and 4.01(3) will apply to the making of any such provincial elections, with necessary changes. 
 (5) The Vendor and the Purchaser will cooperate with each other in making any amendments to the tax elections referred to in this Section 4.01 as may be required by the Vendor, and the provisions of
this Section 4.01 will apply to the making of any such amended elections. 

  
 - 20 -

 4.02 Stated Capital 
 The Purchaser will add to its stated capital account maintained for its common shares an amount up to but not exceeding: 
  

	 	(a)	for Purchaser Shares issued as part of the Consideration for Elected Property, the aggregate agreed amounts in the election, less the amount of any consideration
allocated to such Elected Property other than Purchaser Shares; and 

  

	 	(b)	for all other Purchaser Shares issued by the Purchaser pursuant hereto, the fair market value of the assets for which such Purchaser Shares are issued.

 4.03 Transfer Taxes 
 (1) All transfer, land transfer, value added, ad-valorem, excise, sales, use, consumption, goods or services, harmonized sales, retail sales, social services, or other similar taxes or duties
(collectively, “Transfer Taxes”) payable under any Law on or with respect to the sale and purchase of the Canadian Snack Assets under this Agreement will be the responsibility of the party on whom such Transfer Taxes are imposed or
from whom such Transfer Taxes are otherwise due under such Law, and such party will be liable for and will pay, or will cause to be paid, such Transfer Taxes. The party that is liable for a Transfer Tax as set out above will prepare and file any
affidavits or returns required in connection with such Transfer Tax at its own cost and expense. To the extent that any Transfer Taxes are required to be paid by a party that is not liable for such Transfer Taxes as set out above, the party that is
liable for such Transfer Taxes as set out above will reimburse, or will cause to be reimbursed, to the first-mentioned party such taxes within five Business Days of payment of such Transfer Taxes by such party. All amounts payable by the Purchaser
to the Vendor hereunder do not include Transfer Taxes. The Vendor and the Purchaser agree to cooperate with each other in connection with any filings and/or applications for the deferral of any land transfer tax in connection with the transfer,
assignment and conveyance of the Freehold Lands. 
 (2) The Vendor and the Purchaser will, at or before the Effective Time,
jointly execute elections, in the prescribed form and containing the prescribed information, under subsection 167(1) of the Excise Tax Act (Canada) to have subsection 167(1.1) of the Excise Tax Act (Canada) apply and under section 75
of the Act respecting the Quebec sales tax to have section 75(1.1) of Act respecting the Quebec sales tax apply to the sale and purchase of the Canadian Snack Assets hereunder so that no tax will be payable in respect of such sale and
purchase under Part IX of the Excise Tax Act (Canada) and under the Act respecting the Quebec sales tax. The Purchaser will file the elections in the manner and within the time prescribed by the relevant legislation. 

(3) The Vendor and the Purchaser agree that (i) the Vendor will be responsible for accounting for any goods and services tax,
harmonized sales tax and/or Quebec sales tax that form part of any receivables acquired by the Purchaser as part of its acquisition of the Canadian Snack Assets, and (ii) the transfer of such receivables will be net of any amount that is in
respect of applicable goods and services tax, harmonized sales tax and/or Quebec sales tax so that the Vendor will retain the right to collect such goods and services tax, harmonized sales tax and/or Quebec sales tax. To the extent that the
applicable goods and services tax, harmonized sales tax and/or Quebec sales tax on transferred receivables is paid to the Purchaser, the Purchaser will forthwith pay such amounts to the Vendor. 

  
 - 21 -

 4.04 Property Taxes 
 All property taxes imposed on or with respect to the Canadian Snack Assets for the tax year that includes the Closing Date will be the responsibility of the party on whom such property taxes are imposed
or from whom such property taxes are otherwise due under applicable Law. To the extent that a party is liable for property taxes as set out above, that party will prepare and file all required tax returns incident to those taxes at its own cost and
expense. 
 4.05 Excise Tax Act; Residency 
 (1) The Vendor is registered under Part IX of the Excise Tax Act (Canada) with registration numbers RT0001 89950 5945 and QST 1019023768 TQ0001. The Vendor is not a non-resident of Canada within
the meaning of section 116 of the Tax Act. 
 (2) The Purchaser is registered under Part IX of the Excise Tax Act (Canada)
with registration numbers RT0001 82426 2687 and QST 1218891752 TQ0001. 
 ARTICLE 5—EMPLOYEE MATTERS

 5.01 Employees and Collective Agreements 
 (1) Schedule 5.01(1) sets out the names of all employees of the Canadian Snack Business as of the Closing Date (“Employees”). No later than the Closing Date, the Vendor will provide the
Purchaser with information regarding terms and conditions of employment of the Employees in effect as of the Effective Time and such other information which is required by the Purchaser in order to establish, administer and manage the
Purchaser’s employment relationship with Employees as of and following the Effective Time, to be jointly determined by the parties acting reasonably. The Vendor may, within 15 Business Days following the Closing Date, deliver to the Purchaser
an updated version of Schedule 5.01(1) as may be necessary to correct any errors thereon, any such updated Schedule to be appended to this Agreement in substitution of the then existing Schedule and the employees listed thereon will be deemed to
constitute the Employees. 
 (2) Schedule 5.01(2) sets out all of the collective agreements (“Collective
Agreements”) to which the Vendor is a party or by which it is otherwise bound, either directly or indirectly by operation of Law, with respect to the Canadian Snack Business. 
 5.02 Offers of Employment 
 (1) Effective on and after the Effective
Time, the Purchaser will employ all of the Employees who are not covered by the Collective Agreements (“Non-Union Employees”) and whose names are listed on Schedule 5.01(1), on the same terms and conditions which are in effect as of
the Effective Time for all hourly paid Non-Union Employees of the Vendor and, to the extent that written offers of employment have been provided to salaried Non-Union Employees of the Vendor, on the same terms and conditions which are set out in
such written offers of employment with the 

  
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Purchaser which have been extended to such salaried Non-Union Employees of the Vendor prior to the Closing Date and which have been accepted by such salaried Non-Union Employees as of the Closing
Date. The Purchaser will recognize all past service of Non-Union Employees with the Vendor and, if applicable, Predecessors of the Vendor, to the extent recognized by the Vendor, for all purposes. No later than the Closing Date, the Vendor will
provide the Purchaser with all written offers of employment with the Purchaser which have been extended to and accepted by salaried Non-Union Employees of the Vendor. The Purchaser will assume, accept the assignment of and continue to comply with
the terms and conditions set out in all such offers of employment effective as of and following the Effective Time. The Purchaser will notify those salaried Non-Union Employees of the Vendor who do not receive written offers of employment with the
Purchaser (who, for greater certainty, will be those salaried Non-Union Employees of the Vendor working at the plant level) of the transition of their employment from the Vendor to the Purchaser by notice provided to each such Employee or by the
posting of such notice conspicuously in the workplace of such salaried Non-Union Employees. All Non-Union Employees who are not members of the registered pension plans listed on Schedule 6.01(1) and who are on any approved or statutory leave of
absence as of the Closing Date will become employees of the Purchaser as of and following the Effective Time. 
 (2) With
respect to Employees who are employed by the Vendor who are covered by the Collective Agreements (“Unionized Employees”), effective on and after the Effective Time, the Purchaser will be a successor employer to the Vendor of all
Unionized Employees under the Collective Agreements pursuant to the provisions of applicable labour legislation and on and after the Effective Time will be bound by and observe all of the same terms, conditions, rights and obligations of the Vendor
in relation to the employment of the Unionized Employees, including under the Collective Agreements. 
 (3) All items in respect
of Employees who become employed by the Purchaser that require adjustment including premiums for unemployment insurance, Canada Pension Plan, employer health tax, applicable statutory hospitalization insurance, accrued wages, salaries and
commissions and employee benefit plan payments will be appropriately adjusted to the close of business on the day immediately preceding the Effective Time. 
 (4) On and following the Effective Time, the Vendor will continue to be solely responsible for, fully discharge, and fully indemnify and save harmless the Purchaser with respect to, all statutory
obligations and Liabilities which (i) are accrued and unpaid up to the Effective Time with respect to all Employees; or (ii) which accrue and become payable on or after the Effective Time with respect to Non-Union Employees who do not
commence employment with the Purchaser. On and following the Effective Time, the Purchaser will be solely responsible for, fully discharge, and fully indemnify and save harmless the Vendor with respect to all statutory, contractual or common law
obligations and Liabilities which accrue on or after the Effective Time with respect to Non-Unionized Employees who commence employment with the Purchaser and all Unionized Employees. 

(5) With respect to those Employees who become employees of the Purchaser, and who have any claims under applicable workers’
compensation legislation as of the Effective Time, including any active Employees and any Employees who are on a leave of absence under applicable workers’ compensation legislation as of the Effective Time, the Purchaser will be solely
responsible for, and will fully comply with and discharge, all obligations and Liabilities under applicable 

  
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workers’ compensation legislation with respect to all such workers’ compensation claims, regardless of when the events underlying such workers’ compensation claims occur, and
regardless of whether such workers’ compensation claims are open as of the Effective Time, or are opened or re-opened following the Effective Time, including the obligation to re-employ any such Employees who are on a leave of absence as of the
Effective Time and to provide any accommodations which are required under applicable workers’ compensation legislation, human rights legislation or both. The Purchaser will assume, discharge and be liable for all claims, levies, assessments,
penalties, deficiencies, Liabilities and other payments and obligations with respect to such Employees under applicable workers’ compensation legislation, and will fully indemnify and save harmless the Vendor for all such claims, levies,
assessments, penalties, deficiencies, Liabilities and other payments and obligations, including all reasonable and documented third party costs incurred by the Vendor in relation to such claims. The Vendor will act reasonably in providing the
Purchaser with any information reasonably required by the Purchaser in order to discharge the Purchaser’s obligations hereunder. With respect to any payments made by the Vendor after the Effective Time to any workers compensation board in
relation to any Employees who become employees of the Purchaser, the Purchaser will fully indemnify and save harmless the Vendor for such payments within 30 days following the end of each quarter-end during which the applicable payment was paid by
the Vendor. With respect to any payments received by the Vendor from any workers compensation board after the Effective Time in relation to any Employees who become employees of the Purchaser, the Vendor will remit such payments to the Purchaser
within 30 days following the end of each quarter-end during which the applicable payment was received by the Vendor. With respect to any payments received by the Purchaser from any workers compensation board after the Effective Time in relation to
any employees of the Vendor, including any Employees who do not become employees of the Purchaser, the Purchaser will remit such payments to the Vendor within 30 days following the end of each quarter-end during which the applicable payment was
received by the Purchaser. The parties will act reasonably in providing the other party with any information reasonably required by the other party in order to discharge their respective payment obligations hereunder. 

(6) The Vendor will transfer to the Purchaser the information contained in the complete personnel files maintained by the Vendor as of the
Closing Date in respect of each of the Employees who commence employment with the Purchaser. The exchange of and access to such information will be handled in accordance with article VI of the Separation Agreement. 

5.03 Specified Incentive Plans 
 (1) With respect to those Employees who commence employment with the Purchaser as of the Effective Time, and who are eligible to participate in a Specified Incentive Plan immediately prior to the
Effective Time, the Purchaser will establish (or will arrange for another member of the SnackCo Group to establish) new incentive plans for the year ending
                     (the “SnackCo Incentive Plans”) which will be on the same terms and conditions and identical in all other
respects to the Specified Incentive Plans in effect immediately prior to the Closing Date. All Employees who participated in a Specified Incentive Plan immediately prior to the Closing Date will be eligible to participate in the corresponding
SnackCo Incentive Plan effective as of and following the Effective Time. For the purpose of calculating the amounts payable to an eligible Employee under a SnackCo Incentive Plan for the year ending
                    , the period between January 1, 2012 and the Closing Date in which an eligible Employee was employed by the Vendor and
eligible to participate in a Specified Incentive Plan will be deemed to be service with the Purchaser. 

  
 - 24 -

 (2) With respect to the portion of the incentive payments under the SnackCo Incentive Plans
which is determined based on the achievement of specified targets for the                     , the Vendor will be responsible for calculating the
quarterly incentive payments, if any, to be paid by the Purchaser to each eligible Employee participating in the SnackCo Incentive Plans with respect to the
                     and will advise the Purchaser of the same when such results are known to the Vendor. The Purchaser will be responsible for
paying any such quarterly incentive payments to eligible Employees who participate in the SnackCo Incentive Plans at the same time as such quarterly incentive payments are paid by the Vendor to eligible employees of the Vendor under the Specified
Incentive Plans. 
 (3) The Purchaser will be solely responsible for all amounts payable to those Employees who commence
employment with the Purchaser as of the Effective Time under the SnackCo Incentive Plans with respect to all periods ending on or after January 1, 2012. The Vendor will be solely responsible for all amounts payable to employees of the Vendor
who do not commence employment with the Purchaser as of the Closing Date under a Specified Incentive Plan for all periods ending on or after January 1, 2012. 
 ARTICLE 6—PENSIONS AND BENEFITS MATTERS 
 6.01 Assignment and
Assumption of Registered Pension Plans 
 (1) The Vendor hereby assigns to the Purchaser, and the Purchaser hereby
assumes from the Vendor, sponsorship and administration of the six registered pension plans listed on Schedule 6.01(1) (“Stand-Alone Registered Pension Plans”), as of and with effect from the Effective Time.  

(2) The Vendor and the Purchaser will execute an assignment and assumption agreement, concurrent with the execution of this Agreement,
with respect to each of the Stand-Alone Registered Pension Plans substantially in the form of the agreement attached as Schedule 6.01(2). 

6.02 Registered Pension Plan Transfers 
 (1) Effective as of the Effective Time, the Purchaser will establish new registered pension plans as successor plans (“SnackCo Pension Plans”) to the three registered pension plans
administered by the Vendor listed on Schedule 6.02(1) (“Vendor Commingled Registered Pension Plans”). Each SnackCo Pension Plan will have terms and features (including benefit accrual provisions) that are substantially identical to
the corresponding Vendor Commingled Registered Pension Plan. Effective as of the Effective Time, the members of the Vendor Commingled Registered Pension Plans who are employed by the Vendor in the Canadian Snack Business as of the Closing Date, and
who become employed by the Purchaser effective the Effective Time (the “Transferred Employees from Commingled Plans”) will cease to actively participate in and accrue benefits under the Vendor Commingled Registered Pension Plans and
will commence participation in and accrue benefits under one of the SnackCo Pension Plans. Each SnackCo Pension Plan will assume liability from the corresponding Vendor Commingled Registered Pension Plan for all benefits accrued or earned (whether
or not vested) by the Transferred Employees from Vendor Commingled Registered Pension Plans, subject to applicable Laws and the completion of the transfer of assets contemplated by this Section 6.02. 

  
 - 25 -

 (2) The Vendor and the Purchaser acknowledge that the Vendor Commingled Registered Pension
Plans are currently not fully funded, and that additional contributions are required in accordance with applicable Laws. The Purchaser will be responsible for all contributions that are required to be made under applicable Laws for periods after the
Effective Time in respect of the benefits which Transferred Employees from Commingled Plans have accrued under the Vendor Commingled Registered Pension Plans, subject to the completion of the transfer of assets contemplated by this
Section 6.02. All such Purchaser contributions will be made to the SnackCo Pension Plans. 
 (3) Immediately following the
Closing Date, the Vendor will cause its actuary to calculate the value, as of the Effective Time, of the defined benefit assets to be transferred from each of the Vendor Commingled Registered Pension Plans to the corresponding SnackCo Pension Plan
in respect of the benefits which Transferred Employees from Commingled Plans have accrued under the Vendor Commingled Registered Pension Plans up to the Effective Time. The asset transfer amounts will be determined in accordance with paragraph 8(b)
of the Financial Services Commission of Ontario’s Policy A700-200 or in accordance with Chapter XII of the Supplemental Pension Plans Act of Quebec, as applicable, using the same assumptions and valuation methodology that were used in
the December 31, 2011 funding actuarial valuation reports for the Vendor Commingled Registered Pension Plans, including any necessary updates to the solvency assumptions to ensure that they are appropriate as of the Effective Time (the
“Pension Plan Transfer Amounts”). For greater certainty, the solvency assumptions will be those assumptions in effect as at the Effective Time and determined in accordance with the Canadian Institute of Actuaries’ Education
Note published by the Pension Plan Financial Reporting Committee, as updated from time to time, providing guidance on assumptions for solvency and hypothetical windup valuations and in accordance with the Standards of Practice for Pension Commuted
Values published by the Canadian Institute of Actuaries effective February 1, 2011, as applicable. 
 (4) No later than 30
days following the Closing Date, the Vendor will apply to the applicable pension regulatory authorities for consent to transfer the Pension Plan Transfer Amounts and the defined contribution account balances of Transferred Employees from Commingled
Plans to the SnackCo Pension Plans. The Vendor will make a separate application in respect of the transfer of assets and liabilities from each of the Vendor Commingled Registered Pension Plans. The Vendor will cause to be prepared all applications,
reports and other materials required under applicable laws to obtain such consent and will diligently pursue such applications. The Purchaser will act reasonably in providing all information reasonably requested by the Vendor in order to pursue such
applications. 
 (5) Within 30 days of receiving the consent of the applicable pension regulatory authority to each of the
applications described in this Section 6.02, the Vendor will, in respect of each Vendor Commingled Registered Pension Plan, transfer to the corresponding SnackCo Pension Plan assets in kind and in cash with a total value equal to the applicable
Pension Plan Transfer Amount, adjusted as follows: 
  

	 	(a)	decreased by the aggregate amount of payments made from the applicable Vendor Commingled Registered Pension Plan to the Transferred Employees from Commingled Plans in
order to satisfy any benefit payment obligation with respect to such members of the applicable Vendor Commingled Registered Pension Plan following the Closing Date (adjusted to reflect the applicable rate of return determined under clause
(c) below), 

  
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	 	(b)	decreased by the aggregate amount of charges, expenses and other costs reasonably attributable to the administration of Vendor Commingled Registered Pension Plans in
respect of the benefits of Transferred Employees from Commingled Plans (adjusted to reflect the applicable rate of return determined under clause (c) below), and 

 

	 	(c)	increased or decreased, as the case may be, in order to reflect the fund rate of return of the assets in the applicable Vendor Commingled Registered Pension Plan during
the period from the Closing Date to the date of transfer 

 (the “Adjusted Pension Plan Transfer Amounts”).

 In addition to the transfer of the Adjusted Pension Plan Transfer Amounts, the Vendor will, in respect of each Vendor Commingled Registered
Pension Plan, transfer to the corresponding SnackCo Pension Plan the defined contribution account balances in respect of Transferred Employees from Commingled Plans. 
 (6) The Vendor will transfer assets in kind (rather than in cash) to the SnackCo Pension Plans, to the extent commercially reasonable. The Vendor will, prior to the date that the Pension Plan Transfer
Amount (adjusted as described in Section 6.02(5)) is transferred to each SnackCo Pension Plan: 
  

	 	(a)	administer the assets of the Vendor Commingled Registered Pension Plans in accordance with applicable Laws; 

 

	 	(b)	continue to direct the investment of the assets of the Vendor Commingled Registered Pension Plans in accordance with the terms of such plans and applicable pension
legislation, and will not change the investment of assets that are allocable to the Pension Plan Transfer Amounts from the manner in which they are invested as of the Closing Date without the prior written consent of the Purchaser, which will not be
unreasonably withheld; 

  

	 	(c)	keep the Purchaser fully informed regarding the status of the regulatory applications described in this Section 6.02; 

 

	 	(d)	promptly provide the Purchaser from time to time with information reasonably requested by the Purchaser regarding the assets, the investment performance of the assets,
and the expenses charged to the assets in the Vendor Commingled Registered Pension Plans; and 

  

	 	(e)	provide the Purchaser with copies of all documentation relating to the payments made from the Vendor Commingled Registered Pension Plans to the Transferred Employees
from Commingled Plans, including pension election forms submitted to the Vendor or its agents by the Transferred Employees from Commingled Plans. 

  
 - 27 -

 (7) If the applicable pension regulatory authority refuses to consent to the application of
the Vendor described in this Section 6.02 with respect to any Vendor Commingled Registered Pension Plan, and takes the position that it will consent if a different amount is proposed to be transferred or if a certain assumption or method of
calculation is used to determine the Pension Plan Transfer Amounts, the Vendor and the Purchaser will proceed on the basis necessary to obtain the consent of such regulatory authority. 

(8) Subject to the transfer of the Pension Plan Transfer Amounts, the Purchaser assumes responsibility for the benefits accrued by the
Transferred Employees from Commingled Plans under the Vendor Commingled Registered Pension Plans up to the Effective Time. 
 6.03 Group
Registered Retirement Savings Plan 
 The Vendor hereby assigns to the Purchaser, and the Purchaser hereby assumes from
the Vendor, as of and with effect from the Effective Time, all of the rights, obligations and liabilities of the Vendor with respect to the group registered retirement savings plan accounts that are provided by the Vendor (a) to the Non-Union
Employees and Unionized Employees; and (b) to any other individuals who are members of the Stand-Alone Registered Pension Plans. 
 6.04
Non-Registered Savings Plan Accounts 
 The Vendor hereby assigns to the Purchaser, and the Purchaser hereby
assumes from the Vendor, as of and with effect from the Effective Time, all of the rights, obligations and liabilities of the Vendor with respect to the non-registered savings plan accounts that are provided by the Vendor (a) to the Non-Union
Employees and Unionized Employees; and (b) to any other individuals who are members of the Stand-Alone Registered Pension Plans. 
 6.05
Supplemental Top Up Plans 
 The Vendor hereby assigns to the Purchaser, and the Purchaser hereby assumes from the
Vendor, as of and with effect from the Effective Time, all of the rights, obligations and liability of the Vendor regarding the entitlements of all Employees who become employed by the Purchaser effective the Effective Time, to supplemental,
unregistered top-up pension payments. The Vendor will retain all of the rights, obligations and liabilities of the Vendor regarding the supplemental, unregistered top-up pension payment entitlements of individuals previously employed by the Vendor
whose employment with the Vendor ceased prior to the Effective Time. 
 6.06 Post-Retirement Health and Welfare Benefits

 The Vendor hereby assigns to the Purchaser, and the Purchaser hereby assumes from the Vendor, as of and with effect from the
Effective Time, all of the rights, obligations and liability of the Vendor with respect to post-retirement health and welfare benefit entitlements of the members of the Stand-Alone Registered Pension Plans whose employment with the Vendor ceased
prior to the Effective Time. With respect to Employees who become employed by the Purchaser effective the Effective Time, the Purchaser will, in the case of Unionized Employees, provide post-retirement health and welfare benefit entitlements as
required by Section 5.02(2) and, in the case of the Non-Union Employees, provide post-retirement health and welfare benefit entitlements on the same terms and conditions which are in effect as of the Effective Time as required by
Section 5.02(1). 

  
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 6.07 Long-Term Disability Liabilities 

The Vendor will be exclusively responsible for the cost and administration of all long-term disability income payments that become due
either before or after the Closing Date to all individuals who were employed in the SnackCo Business and were in receipt of long-term disability income payments as at the Closing Date in respect of claims arising before the Closing Date, regardless
of whether such individuals become employed by the Purchaser. 
 ARTICLE 7—CLOSING ARRANGEMENTS AND TERMINATION

 7.01 Closing 
 The transactions contemplated by this Agreement will be completed at the Effective Time at the offices of McCarthy Tétrault LLP, Suite 5300, Toronto-Dominion Bank Tower, 66 Wellington Street West,
Toronto, Ontario, Canada M5K 1E6. 
 7.02 Survival 
 The covenants of the Vendor and of the Purchaser set out in this Agreement will survive the completion of the sale and purchase of the Canadian Snack Assets herein provided for and, notwithstanding such
completion, will continue in full force and effect for the benefit of the other party in accordance with the terms thereof. 
 7.03
Termination 
 This Agreement may be terminated by the written agreement of the Vendor and the Purchaser. This
Agreement will terminate automatically, and without any further action or formality, upon the termination of the Separation Agreement in accordance with section 8.3 of the Separation Agreement. 

ARTICLE 8—GENERAL 
 8.01 Application of the Separation Agreement 
 (1) Without limiting
the generality of Section 8.01(2), the following provisions of the Separation Agreement are hereby incorporated into this Agreement by reference and, unless otherwise expressly specified herein, such provisions will apply to the Vendor and the
Purchaser as if fully set forth in this Agreement, mutatis, mutandis: 
  

	 	(a)	Section 2.2 (Governmental Approvals and Consents; Transfers, Assignments and Assumptions Not Effected Prior to the Distribution); 

 

	 	(b)	Section 2.4 (Novation of GroceryCo Liabilities); 

  

	 	(c)	Section 2.5 (Novation of SnackCo Liabilities); 

  

	 	(d)	Section 4.1 (Further Assurances); and 

  
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	 	(e)	Article VIII (Miscellaneous), other than Section 8.2 (Expenses), Section 8.7 (Interpretation) and Section 8.10 (Governing
Law) thereof. 

 (2) Except as expressly provided in the Separation Agreement, this Agreement or any other
Ancillary Agreement, the Vendor acknowledges that it is a member of the GroceryCo Group and the Purchaser acknowledges that it is a member of the SnackCo Group and, in each case and as such, each of the Vendor and the Purchaser is subject to, and
will observe, perform and be bound by, the provisions of the Separation Agreement and any other Ancillary Agreement that are expressly stated therein to apply, or that are otherwise required by the context thereof to apply, to the Vendor, the
Purchaser or both. Without limiting the generality of the foregoing, each of the Vendor and the Purchaser acknowledges and agrees that it is subject to, and will observe, perform and be bound by, the following provisions of the Separation Agreement:

  

	 	(a)	Article IV (Further Assurances; Additional Agreements); 

  

	 	(b)	Article V (Mutual Releases; Indemnification); 

  

	 	(c)	Article VI (Exchange of Information; Litigation Management; Confidentiality); and 

 

	 	(d)	subject to Section 8.03 of this Agreement, Article VII (Dispute Resolution). 

(3) In this Section 8.01, unless the context otherwise requires, references to an “Article” or “Section” will
mean Articles or Sections of the Separation Agreement, and references in the material incorporated herein by reference will be references to the Separation Agreement. 
 8.02 Application of the Tax Sharing Agreement 
 (1) Without limiting
the generality of Section 8.02(2) or 8.02(3) of this Agreement, Section 4.04 (Tax Benefits) of the Tax Sharing Agreement is hereby incorporated into this Agreement by reference and, unless otherwise expressly specified herein, such
provision will apply to the Vendor and the Purchaser as if fully set forth in this Agreement, mutatis, mutandis. 
 (2)
Except as expressly provided in the Tax Sharing Agreement, this Agreement or any other Ancillary Agreement, the Vendor acknowledges that it is a member of the GroceryCo Post-Distribution Group and the Purchaser acknowledges that it is a member of
the SnackCo Post-Distribution Group. As such, the Vendor and the Purchaser acknowledge that the Purchaser is entitled to the benefits of Sections 5.03(a) and 5.04 of the Tax Sharing Agreement as they relate to Canadian Transaction Taxes imposed on
the Purchaser or for which the Purchaser is liable and the Vendor is entitled to the benefits of Sections 5.03(b) and 5.04 of the Tax Sharing Agreement as they relate to Canadian Transaction Taxes imposed on the Vendor or for which the Vendor is
liable. 
 (3) Each of the Vendor and the Purchaser is subject to, and will observe, perform and be bound by, the provisions of
the Tax Sharing Agreement that are expressly stated therein to apply, or that are otherwise required by the context thereof to apply, to the Vendor, the Purchaser or both. Without limiting the generality of the foregoing, each of the Vendor and the
Purchaser acknowledges and agrees that it is subject to, and will observe, perform and be bound by, the following provisions of the Tax Sharing Agreement: 

  
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	 	(a)	Article VIII (Tax Contests), other than Section 8.02(b) (Non-Canadian Transaction Tax Contests) thereof and acknowledging that Section 8.02(c)
(Canadian Transaction Tax Contest) applies between SnackCo and GroceryCo and not their Subsidiaries; 

  

	 	(b)	Article IX (Payments), other than Section 9.03 (Characterization of Payments) thereof; and 

 

	 	(c)	Article X (Miscellaneous), other than Section 10.11 (Governing Law) thereof and acknowledging that Section 10.01(d) (Competent Authority
Claims) applies between SnackCo and GroceryCo and not their Subsidiaries. 

 (4) In this Section 8.02,
unless the context otherwise requires, references to an “Article” or “Section” will mean Articles or Sections of the Tax Sharing Agreement, and references in the material incorporated herein by reference will be references to the
Tax Sharing Agreement. 
 8.03 Dispute Resolution 
 Notwithstanding any provision to the contrary in article VII of the Separation Agreement, any Dispute that relates primarily or exclusively to this Agreement, or a breach thereof (a “Canadian
Dispute”), will be resolved pursuant to the dispute resolutions provisions set forth in article VII of the Separation Agreement; provided, however, that the place of any arbitration commenced in connection therewith will be Toronto,
Ontario. Notwithstanding the foregoing, in the event that a Dispute is commenced pursuant to article VII of the Separation Agreement that is substantially interconnected with or that depends substantially on the outcome of a then-pending Canadian
Dispute, the Vendor and the Purchaser may, by written agreement, jointly elect to waive the provisions of this Section 8.03 and to discontinue such separate Canadian Dispute and, instead, to combine such Canadian Dispute with such other Dispute
commenced pursuant to the Separation Agreement, and the place of any arbitration commenced in connection with such other Dispute will be New York City, New York. 
 8.04 Notices 
 In addition to the provisions of section 8.6 of the
Separation Agreement (and section 10.08 of the Tax Sharing Agreement), any demand, notice or other communication to be given in connection with this Agreement must be given in writing and will be given by personal delivery or by electronic means of
communication addressed to the recipient as follows: 
 To the Vendor: 

Kraft Canada Inc. 
 95 Moatfield Drive 
 North York, Ontario M3B 3L6 

Fax No.: (416) 441-5328 
 Attention:     President 

  
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 To the Purchaser: 
 Mondelez Canada Inc. 
 2660 Matheson Boulevard East 

Mississauga, Ontario L4W 5M2 
 Fax No.: 
 Attention:     President 

or to such other street address, individual or electronic communication number or address as may be designated by notice given by either party to the
other. Any demand, notice or other communication given by personal delivery will be conclusively deemed to have been given on the day of actual delivery thereof and, if given by electronic communication, on the day of transmittal thereof if given
during the normal business hours of the recipient and on the Business Day during which such normal business hours next occur if not given during such hours on any day. If the party giving any demand, notice or other communication knows or ought
reasonably to know of any difficulties with the postal system that might affect the delivery of mail, any such demand, notice or other communication may not be mailed but must be given by personal delivery or by electronic communication. 

8.05 Governing Law 

This Agreement is governed by and will be construed in accordance with the laws of the Province of Ontario and the laws of Canada
applicable therein. For the purpose of all legal proceedings this Agreement will be deemed to have been performed in the Province of Ontario. 
 (Signature Page Follows) 

  
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 IN WITNESS WHEREOF the parties have executed this Agreement. 

 

			
	MONDELEZ CANADA INC.
		
	Per:	 	 
		 	 Name:

Title:

		
	Per:	 	 
		 	 Name:

Title:

	
	KRAFT CANADA INC.
		
	Per:	 	 
		 	 Name:

Title:

		
	Per:	 	 
		 	 Name:

Title:

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