Document:

Form of SUPERVALU INC. 2002 Stock Plan Restoration Stock Option Agreement

 Exhibit 10.32 
 SUPERVALU INC. 
 2002 STOCK PLAN 
 RESTORATION STOCK OPTION AGREEMENT 
 This Restoration Stock Option Agreement is
made and entered into as of the Grant Date listed below, by and between SUPERVALU INC. (the “Company”) and the individual whose name and address appears in the signature space below (“Optionee”). 
 The Company has established the 2002 Stock Plan, as amended (the “Plan”), under which certain key employees of the Company may be granted
restoration stock options (each a “Restoration Option”) to purchase shares of the Company’s common stock, par value $1.00 per share (each a “Share”), in consideration for tendering Shares in payment for the exercise price
and withholding tax, if applicable, due on the exercise of a stock option previously granted by the Company. Optionee has tendered Shares in payment of the exercise price and withholding tax, if applicable, of a stock option and has been granted a
Restoration Option to purchase additional shares of common stock of the Company as follows: 
 In consideration of the foregoing, the Company
and Optionee hereby agree as follows: 
 1. Grant. The Company hereby grants Optionee a Restoration Option to purchase the number of
Shares set forth in the table below, effective as of the Grant Date indicated therein. The Restoration Option shall be a non-qualified, having an exercise price and expiration date as indicated in the table below. Subject to the Restoration Stock
Option Terms and Conditions attached hereto (the “Terms and Conditions”), the Restoration Option is immediately exercisable, with respect to all of the Shares subject thereto, as of the Grant Date. 
  

											
	 Grant No.
	  	 Grant Date
	  	 Number of Shares
	  	 Type of Option
	  	 Exercise Price
	  	 Expiration Date

		  		  		  		  		  	

 2. Acceptance of Restoration Option and Terms and Conditions. The Restoration Option is
governed by and subject to the Terms and Conditions attached hereto and the provisions of the Plan. Optionee hereby acknowledges receipt of the Terms and Conditions, and the Plan, and represents that he or she has read and understands same. Optionee
hereby accepts the Restoration Option and agrees to be bound by all of the Terms and Conditions and the provisions of the Plan. 
 In witness
whereof, this Restoration Stock Option Agreement has been executed by the Company and Optionee as of the Grant Date listed above. 
  

									
	 SUPERVALU INC.
	 		 	 OPTIONEE:

				
	By:	 	  	 		 	  

  

 1 

 SUPERVALU INC. 
 2002 STOCK PLAN 
 RESTORATION STOCK OPTION TERMS & CONDITIONS 
 (KEY EXECUTIVES), as amended 
 These Restoration Stock
Option Terms and Conditions (“Terms and Conditions”) apply to the Restoration Option granted under the SUPERVALU INC. 2002 Stock Plan, pursuant to the Restoration Stock Option Agreement to which this document is attached. Capitalized terms
that are used in this document, but are not defined, shall have the meanings ascribed to them in the Plan or the Restoration Stock Option Agreement. 
 1.
Vesting and Exercisability. The Restoration Option shall vest as follows: 
  

	 	a)	As of the Grant Date, one hundred percent (100%) of the Restoration Option shall immediately vest. 

  

	 	b)	The Restoration Option may be exercised at any time, or from time to time, as to any or all full shares. 

  

	 	c)	The term of the Restoration Option shall expire at the close of business on the expiration date set forth in the attached Agreement (the “Expiration Date”) or such shorter
period as is prescribed in Section 7. 

 2. Manner of Exercise. Except as provided in Section 7 below, you cannot exercise the
Restoration Option unless at the time of exercise you are an employee of the Company or an Affiliate. Prior to your death, only you may exercise the Restoration Option. You may exercise the Restoration Option as follows: 
  

	 	a)	By delivering a “Notice of Exercise of Stock Restoration Option” to the Company at its principal office, attention: Corporate Secretary, stating the number of Shares being
purchased and accompanied by payment of the full purchase price for such Shares (determined by multiplying the Exercise Price by the number of Shares to be purchased). [Note: In the event the Restoration Option is exercised by any person other than
you pursuant to any of the provisions of Section 7 below, the Notice must be accompanied by appropriate proof of such person’s right to exercise the Restoration Option.]; or 

  

	 	b)	By entering an order to exercise the Restoration Option using E*TRADE’s OptionsLink website. 

 3. Method of Payment. The full purchase price for the Shares to be purchased upon exercise of the Restoration Option must be paid as follows: 
  

	 	a)	By delivering directly to the Company, cash or its equivalent payable to the Company; 

  

	 	b)	By delivering indirectly to the Company, cash or its equivalent payable to the Company through E*TRADE’s OptionsLink website; or 

  

	 	c)	By delivering Shares having a Fair Market Value as of the Exercise Date equal to the purchase price (commonly known as a “Stock Swap”); or 

  

	 	d)	By delivering the full purchase price in a combination of cash and shares. 

 4. Delivery of Shares. You shall not have any of the rights of a stockholder with respect to any Shares subject to the Restoration Option until such Shares are purchased by you upon exercise of the Restoration Option. Such
Shares shall then be issued and delivered to you by the Company as follows: 
  

	 	a)	In the form of a stock certificate registered in your name or your name and the name of another adult person (21 years of age or older) as joint tenants, and mailed to your address;
or 

  

 2 

	 	b)	In “book entry” form, i.e. registered with the Company’s stock transfer agent, in your name or your name and the name of another adult person (21 years of age or
older) as joint tenants, and sent by electronic delivery to your brokerage account. 

 5. Withholding Taxes. You are responsible for the
payment of any federal, state, local or other taxes that are required to be withheld by the Company upon exercise of the Restoration Option and you must promptly remit such taxes to the Company. You may elect to remit these taxes by: 
  

	 	a)	Delivering directly to the Company, cash or its equivalent payable to the Company; 

  

	 	b)	Delivering indirectly to the Company, cash or its equivalent payable to the Company through E*TRADE’s Restoration OptionsLink website; 

  

	 	c)	Having the Company withhold a portion of the Shares to be issued upon exercise of the Restoration Option having a Fair Market Value equal to the amount of federal and state income
tax required to be withheld upon such exercise (commonly referred to as a “Tax Swap” or “Stock for Tax”); or 

  

	 	d)	Delivering Shares to the Company, other than the Shares issuable upon exercise of the Restoration Option, having a Fair Market Value equal to such taxes. [Note: In addition to
delivering Shares to satisfy required tax withholding obligations, you may also elect to deliver additional Shares to the Company, other than the Shares issuable upon exercise of the Restoration Option, having a Fair Market Value equal to the amount
of any additional federal or state income taxes imposed on you in connection with the exercise of the Restoration Option, provided such Shares have been held by you for a minimum of six (6) months.] 

 6. Transferability. Unless otherwise determined by the Committee, the Restoration Option shall not be transferable other than by will or the laws of descent and
distribution. More particularly, the Restoration Option may not be assigned, transferred, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. Any
attempted assignment, transfer, pledge, hypothecation or other disposition of the Restoration Option contrary to these provisions, or the levy of an execution, attachment or similar process upon the Restoration Option, shall be void. 
 You may designate a beneficiary or beneficiaries to exercise your rights with respect to the Restoration Option upon your death. In the absence of any such designation,
benefits remaining unpaid at your death shall be paid to your estate. 
 7. Effect of Termination of Employment. Following the termination of your
employment with the Company or an Affiliate for any of the reasons set forth below, your right to exercise the Restoration Option, as well as that of your beneficiary or beneficiaries, shall be as follows: 
  

	 	a)	Voluntary or Involuntary. In the event your employment is terminated voluntarily or involuntarily for any reason other than retirement, death or permanent disability, you may
exercise the Restoration Option prior to its Expiration Date, at any time within a period of up to two (2) years after such termination of employment. However, the Committee may, in its sole and absolute discretion, except in the case of
the termination of your employment following the occurrence of a Change of Control as defined in Section 12 below, during a period of seventy-five (75) days after such termination of employment and following ten (10) days’
written notice to you, reduce the period of time during which the Restoration Option may be exercised to any period of time designated by the Committee, provided such period is not less than ninety (90) days following termination of your
employment. 

  

	 	b)	Retirement. You shall be deemed to have retired, solely for purposes of this Agreement, in the event that your employment terminates for any reason other than death or disability
and you are at least 55 years of age. 

  

 3 

	 	(i)	In the event you retire and you have completed ten (10) or more years of service with the Company or an Affiliate, you may exercise the Option at any time prior to its
Expiration Date, to the full extent of the Shares covered by the Option that were not previously purchased. 

  

	 	(ii)	In the event you retire and you have completed less than ten (10) years of service with the Company or an Affiliate, you may exercise the Option prior to its Expiration Date,
at any time within a period of up to two (2) years after the date of your retirement, to the full extent of the Shares covered by the Option that were not previously purchased. 

  

	 	c)	Death Prior to Age 55. In the event your death occurs before you attain the age of fifty-five (55), while you are employed by the Company or an Affiliate, or within three
(3) months after the termination of your employment, the Restoration Option may be exercised prior to its Expiration Date, by your beneficiary(ies), or a legatee(s) under your last will, or your personal representative(s) or the distributee(s)
of your estate, to the full extent of the Shares covered by the Restoration Option that were not previously purchased: 

  

	 	(i)	At any time within a period of up to two (2) years after your death if such occurs while you are employed, or 

  

	 	(ii)	At any time within a period of up to two (2) years following the termination of your employment if your death occurs within three (3) months thereafter.

  

	 	d)	Death After Age 55. In the event your death occurs after you attain the age of fifty-five (55), while you are employed by the Company or an Affiliate, or within three
(3) months after the termination of your employment, the Restoration Option may be exercised prior to its Expiration Date, by your beneficiary(ies), or a legatee(s) under your last will, or your personal representative(s) or the distributee(s)
of your estate, to the full extent of the Shares covered by the Restoration Option that were not previously purchased: 

  

	 	(i)	At any time, if you have completed ten (10) or more years of service with the Company or an Affiliate; or 

  

	 	(ii)	If you have completed less than ten (10) years of service with the Company or an Affiliate, then at any time within a period of up to two (2) years after the date
of your death if such occurs while you are employed, or within a period of up to two (2) years after the date of termination of your employment if your death occurs within three (3) months thereafter. 

  

	 	e)	Disability Prior to Age 55. In the event your employment terminates before you attain the age of fifty-five (55), as a result of a permanent disability, the Restoration
Option may be exercised prior to its Expiration Date, by you or by your personal representative(s), at any time within a period of up to two (2) years after your employment terminates due to such permanent disability, to the full extent
of the Shares covered by the Restoration Option that were not previously purchased. 

 You shall be considered permanently
disabled if you suffer from a medically determinable physical or mental impairment that renders you incapable of performing any substantial gainful employment, and is evidenced by a certification to such effect by a doctor of medicine approved by
the Company. In lieu of such certification, the Company shall accept, as proof of permanent disability, your eligibility for long-term disability payments under the applicable Long-Term Disability Plan of the Company. 
  

	 	f)	Disability After Age 55. In the event your employment terminates as a result of a permanent disability after you attain the age of fifty-five (55), the Restoration Option may
be exercised prior to its Expiration Date, by you or by your personal representative(s), to the full extent of the Shares covered by the Restoration Option that were not previously purchased: 

  

	 	(i)	At any time, if you have completed ten (10) or more years of service with the Company or an Affiliate; or 

  

 4 

	 	(ii)	If you have completed less than ten (10) years of service with the Company or an Affiliate, then at any time within a period of two (2) years after your employment
terminates due to such permanent disability. 

 You shall be considered permanently disabled if you suffer from a medically
determinable physical or mental impairment that renders you incapable of performing any substantial gainful employment, and is evidenced by a certification to such effect by a doctor of medicine approved by the Company. In lieu of such
certification, the Company shall accept, as proof of permanent disability, your eligibility for long-term disability payments under the applicable Long-Term Disability Plan of the Company. 
  

	 	g)	Change in Duties/Leave of Absence. The Restoration Option shall not be affected by any change of your duties or position or by a temporary leave of absence approved by the
Company, so long as you continue to be an employee of the Company or of an Affiliate. 

 8. Repurchase Rights. If you exercise the
Restoration Option within six (6) months prior to or three (3) months after the date your employment with the Company or an Affiliate terminates for any reason, whether voluntary or involuntary, with or without cause (except as a
result of death, permanent disability or retirement pursuant to the Company’s retirement plans then in effect), the Company shall have the right and Restoration Option to repurchase from you, that number of Shares which is equal to the number
you purchased upon such exercise(s) within such time periods, and you agree to sell such Shares to the Company. 
 The Company may exercise its repurchase
rights by depositing in the United States mail a written notice addressed to you at the latest mailing address for you on the records of the Company (i) within thirty (30) days following the termination of your employment for the
repurchase of Shares purchased prior to such termination, or (ii) within thirty (30) days after any exercise of the Restoration Option for the repurchase of Shares purchased after your termination of employment. Within thirty
(30) days after the mailing of such notice, you shall deliver to the Company the number of Shares the Company has elected to repurchase and the Company shall pay to you in cash, as the repurchase price for such Shares upon their delivery, an
amount which shall be equal to the purchase price paid by you for the Shares. If you have disposed of the Shares, then in lieu of delivering an equivalent number of Shares to the Company, you must pay to the Company the amount of gain realized by
you from the disposition of the Shares exclusive of any taxes due and payable or commissions or fees arising from such disposition. 
 The Company may
exercise its repurchase rights described above only in the event you are terminated for cause, or if you breach any of the covenants contained in Section 9 below. 
 If the Company exercises its repurchase Restoration Option prior to the actual issuance and delivery to you of any Shares pursuant to the exercise of the Restoration Option, no Shares need be issued or delivered. In
lieu thereof, the Company shall return to you the purchase price you tendered upon the exercise of the Restoration Option to the extent that it was actually received from you by the Company. 
 Following the occurrence of a Change of Control as defined in Section 12 below, the Company shall have no right to exercise the repurchase rights set forth in this
Section. 
 9. Employee Covenants. In consideration of benefits described elsewhere in these Terms and Conditions and the Stock Option Agreement to
which they apply, and in recognition of the fact that, as a result of your employment with the Company or any of its Affiliates, you have had or will have access to and gain knowledge of highly confidential or proprietary information or trade
secrets pertaining to the Company or its Affiliates, as well as the customers, suppliers, joint ventures, licensors, licensees, distributors, or other persons and entities with whom the Company or any of its Affiliates does business
(“Confidential Information”), which the Company or its Affiliates have expended time, resources, and money to obtain or develop and which have significant value to the Company and its Affiliates, you agree for the benefit of the Company
and its Affiliates, and as a material condition to your receipt of benefits described elsewhere in these Terms and Conditions and accompanying the Stock Option Agreement, as follows: 
  

	 	a)	 Non-Disclosure of Confidential Information. You acknowledge that you will receive access or have received access to Confidential Information about the
Company or its Affiliates, that this information was obtained or 

  

 5 

	 	 
developed by the Company or its Affiliates at great expense and is zealously guarded by the Company and its Affiliates from unauthorized disclosure, and that
your possession of this special knowledge is due solely to your employment with the Company or one or more of its Affiliates. In recognition of the foregoing, you will not at any time during employment or following termination of employment for any
reason, disclose, use or otherwise make available to any third party, any Confidential Information relating to the Company’s or any Affiliate’s business, products, services, customers, vendors, or suppliers; trade secrets, data,
specifications, developments, inventions, and research activity; marketing and sales strategies, information, and techniques; long and short term plans; existing and prospective client, vendor, supplier, and employee lists, contacts, and
information; financial, personnel, and information system information and applications; and any other information concerning the business of the Company or its Affiliates which is not disclosed to the general public or known in the industry, except
for disclosure necessary in the course of your duties or with the express written consent of the Company. All Confidential Information, including all copies, notes regarding, and replications of such Confidential Information will remain the sole
property of the Company or its Affiliate, as applicable, and must be returned to the Company or such Affiliate immediately upon termination of your employment. 

  

	 	b)	Return of Property. Upon termination of employment with the Company or any of its Affiliates, or at any other time at the request of the Company, you shall deliver to a
designated Company representative all records, documents, hardware, software, and all other property of the Company or its Affiliates and all copies of such property in your possession. You acknowledge and agree that all such materials are the sole
property of the Company or its Affiliates and that you will certify in writing to the Company at the time of delivery, whether upon termination or otherwise, that you have complied with this obligation. 

  

	 	c)	Non-Solicitation of Existing or Prospective Customers, Vendors, and Suppliers. You specifically acknowledge that the Confidential Information described in Section 9(a)
includes confidential data pertaining to existing and prospective customers, vendors, and suppliers of the Company or its Affiliates; that such data is a valuable and unique asset of the business of the Company or its Affiliates; and that the
success or failure of the their businesses depends upon the their ability to establish and maintain close and continuing personal contacts and working relationships with such existing and prospective customers, vendors, and suppliers and to develop
proposals which are specific to such existing and prospective customers, vendors, and suppliers. Therefore, during your employment with the Company or any of its Affiliates and for the twelve (12) months following termination of employment for
any reason, you agree that you will not, except on behalf of the Company or its Affiliates, or with the Company’s express written consent, solicit, approach, contact or attempt to solicit, approach, or contact, either directly or indirectly, on
your own behalf or on behalf of any other person or entity, any existing or prospective customers, vendors, or suppliers of the Company or its Affiliates with whom you had contact or about whom you gained Confidential Information during your
employment with the Company or its Affiliates for the purpose of obtaining business or engaging in any commercial relationship that would be competitive with the “Business of the Company” (as defined below in Section 9(e)(i)) or cause
such customer, supplier, or vendor to materially change or terminate its business or commercial relationship with the Company or its Affiliates. 

  

	 	d)	Non-Solicitation of Employees. You specifically acknowledge that the Confidential Information described in Section 9(a) also includes confidential data pertaining to
employees and agents of the Company or its Affiliates, and you further agree that during your employment with the Company or its Affiliates and for the twelve (12) months following termination of employment for any reason, you will not,
directly or indirectly, on your own behalf or on behalf of any other person or entity, solicit, contact, approach, encourage, induce or attempt to solicit, contact, approach, encourage, or induce any of the employees or agents of the Company or its
Affiliates to terminate their employment or agency with the Company or any of its Affiliates. 

  

	 	e)	 Non-Competition. You covenant and agree that during your employment with the Company or any of its Affiliates and for the twelve (12) months following
termination of employment for any reason, you will not, in any geographic market in which you worked on behalf of the Company or any of its Affiliates, or for which you had any sales, marketing, operational, logistical, or other management or
oversight responsibility, engage in or carry on, directly or indirectly, as an owner, employee, agent, associate, consultant, partner, or 

  

 6 

	 	 
in any other capacity, a business competitive with the Business of the Company. This Section 9(e) shall not apply in the event of a Change in Control as
described in Section 12 below. 

  

	 	i)	The “Business of the Company” shall mean any business or activity involved in grocery or general merchandise retailing and supply chain logistics, including but not
limited to grocery distribution, business-to-business portal, retail support services, and third-party logistics, of the type provided by the Company or its Affiliates, or presented in concept to you by the Company or its Affiliates at any time
during your employment with the Company or any of its Affiliates. 

  

	 	ii)	To “engage in or carry on” shall mean to have ownership in such business (excluding ownership of up to 1% of the outstanding shares of a publicly-traded company) or to
consult, work in, direct, or have responsibility for any area of such business, including but not limited to operations, logistics, sales, marketing, finance, recruiting, sourcing, purchasing, information technology, or customer service.

  

	 	f)	No Disparaging Statements. You agree that you will not make any disparaging statements about the Company, its Affiliates, directors, officers, agents, employees, products,
pricing policies or services. 

  

	 	g)	Remedies for Breach of These Covenants. Any breach of the covenants in this Section 9 likely will cause irreparable harm to the Company or its Affiliates for which money
damages could not reasonably or adequately compensate the Company or its Affiliates. Accordingly, the Company or any of its Affiliates shall be entitled to all forms of injunctive relief (whether temporary, emergency, preliminary, prospective, or
permanent) to enforce such covenants, in addition to damages and other available remedies, and you consent to the issuance of such an injunction without the necessity of the Company or any such Affiliate posting a bond or, if a court requires a bond
to be posted, with a bond of no greater than $500 in principal amount. In the event that injunctive relief or damages are awarded to Company or any of its Affiliates for any breach by you of this Section 9, you further agree that the Company or
such Affiliate shall be entitled to recover its costs and attorneys’ fees necessary to obtain such recovery. In addition, you agree that upon your breach of any covenant in this Section, the Option, and any other unexercised options issued
under the Plan or any other stock option plans of the Company will immediately terminate. 

  

	 	h)	Enforceability of These Covenants. It is further agreed and understood by you and the Company that if any part, term, or provision of these Terms and Conditions should be
held to be unenforceable, invalid, or illegal under any applicable law or rule, the offending term or provision shall be applied to the fullest extent enforceable, valid, or lawful under such law or rule, or, if that is not possible, the offending
term or provision shall be struck and the remaining provisions of these Terms and Conditions shall not be affected or impaired in any way. 

 10. Arbitration. You and the Company agree that any controversy, claim, or dispute arising out of or relating to the Stock Option Agreement or the breach of any of these Stock Option Terms and Conditions, or arising out of or
relating to your employment relationship with the Company or any of its Affiliates, or the termination of such relationship, shall be resolved by binding arbitration before a neutral arbitrator under rules set forth in the Federal Arbitration Act,
except for claims by the Company relating to your breach of any of the employee covenants set forth in Section 9 above. By way of example only, claims subject to this agreement to arbitrate include claims litigated under federal, state and
local statutory or common law, such as the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, as amended, including the Civil Rights Act of 1994, the Americans with Disabilities Act, the law of contract and the law of
tort. You and the Company agree that such claims may be brought in an appropriate administrative forum, but at the point at which you or the Company seek a judicial forum to resolve the matter, this agreement for binding arbitration becomes
effective, and you and the Company hereby knowingly and voluntarily waive any right to have any such dispute tried and adjudicated by a judge or jury. The foregoing not to the contrary, the Company may seek to enforce the employee covenants set
forth in Section 9 above, in any court of competent jurisdiction. 
 This agreement to arbitrate shall continue in full force and effect despite the
expiration or termination of your Option or your employment relationship with the Company or any of its Affiliates. You and the Company agree that any award rendered by the arbitrator shall be final and binding and that judgment upon the final award
may be entered in 

  

 7 

 
any court having jurisdiction thereof. The arbitrator may grant any remedy or relief that the arbitrator deems just and equitable, including any remedy or
relief that would have been available to you, the Company or any of its Affiliates had the matter been heard in court. All expenses of the arbitration, including the required travel and other expenses of the arbitrator and any witnesses, and the
costs relating to any proof produced at the direction of the arbitrator, shall be borne equally by you and the Company unless otherwise mutually agreed or unless the arbitrator directs otherwise in the award. The arbitrator’s compensation shall
be borne equally by you and the Company unless otherwise mutually agreed or unless the law provides otherwise. 
 11. Severability. In the event that
any portion of these Terms and Conditions shall be held to be invalid, the same shall not affect in any respect whatsoever the validity and enforceability of the remainder of these Terms and Conditions. 
 12. Change of Control. The term “Change of Control”, means any of the following events: 
  

	 	a)	The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of twenty percent (20%) or more of either (A) the then outstanding shares of common stock of the Company or (B) the combined
voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors; provided, however, that for purposes of this subsection (a), the following share acquisitions shall not constitute a
Change of Control; (A) any acquisition directly from the Company or (B) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company; or

  

	 	b)	The consummation of any merger or other business combination of the Company, the sale or lease of all or substantially all the Company’s assets or any combination of the
foregoing transactions (each a “Transaction”) other than a Transaction immediately following which the stockholders of the Company and any trustee or fiduciary of any Company employee benefit plan immediately prior to the Transaction own
at least sixty percent (60%) of the voting power, directly or indirectly, of (A) the surviving corporation in any such merger or other business combination; (B) the purchaser or lessee of the Company’s assets; or (C) both
the surviving corporation and the purchaser or lessee in the event of any combination of Transactions; or 

  

	 	c)	Within any 24-month period, the persons who were directors immediately before the beginning of such period (the “Incumbent Directors”) shall cease (for any reason other
than death) to constitute at least a majority of the Board of Directors of the Company or the board of directors of a successor to the Company. For this purpose, any director who was not a director at the beginning of such period shall be deemed to
be an Incumbent Director if such director was elected to the Board of Directors of the Company by, or on the recommendation of or with the approval of, at least three-fourths of the directors who then qualified as Incumbent Directors (so long as
such director was not nominated by a person who has expressed an intent to effect a Change of Control or engage in a proxy or other control contest); or. 

  

	 	d)	Such other event or transaction as the Board of Directors of the Company shall determine constitutes a Change of Control. 

  

 8Form of SUPERVALU INC. 2002 Stock Plan Restricted Stock Award

 Exhibit 10.37 
 SUPERVALU INC. 
 2002 STOCK PLAN 
 RESTRICTED STOCK AWARD CERTIFICATE 
 Certification of Award 
 This certifies that the individual named below as a “Recipient”, has been awarded restricted shares of the common stock of SUPERVALU INC. (the
“Company”) pursuant to the Company’s 2002 Stock Plan (the “Plan”). The number of shares awarded, the effective date of the award, and the date on which the restrictions lapse (the “Vesting Date”), are set forth
below. The award is non-transferable and is subject to all of the terms and conditions of the Plan, and the Restricted Stock Award Terms and Conditions attached hereto. 
 Name of Recipient: 
 Effective Date: 
 Number of Shares Awarded: 
 Vesting Date: 
 This
Certificate has been executed by an authorized officer of the Company pursuant to the authority granted by the Executive Personnel and Compensation Committee of its Board of Directors. 
  

			
		
	   	 	   
		
	   	 	 Date

 Recipient’s Acknowledgement of Receipt 
 I hereby acknowledge receipt of the award of restricted shares of the common stock of SUPERVALU INC. as described above, the Restricted Stock Award Terms
and Conditions that are attached, and a copy of the Plan and the Prospectus relating thereto. I accept the award subject to the Plan provisions and the Restricted Stock Award Terms and Conditions. 
  

			
		
	   	 	   
		
	   	 	 Date

  

 1 

 SUPERVALU INC. 
 2002 STOCK PLAN 
 RESTRICTED STOCK AWARD TERMS AND CONDITIONS, As Amended 
 SUPERVALU INC. (the “Company”) has established the 2002 Stock Plan (as amended from time to time, the “Plan”), pursuant to which
certain key employees of the Company may receive awards (each an “Award”) of restricted shares of the Company’s common stock (each a “Share”). Each Award is evidenced by a Restricted Stock Award Certificate (the
“Certificate”) setting forth the employee’s name, the date the Award is granted, the number of Shares subject thereto, and the date all rights to the Shares fully vest in favor of the employee and the restrictions thereon lapse. The
Award is governed by and subject to, the terms and conditions of the Plan and those set forth herein. 
 1. Award of Restricted Stock 
 The Company has granted you an Award of Restricted Stock for the number of Shares set forth in the Certificate attached hereto. The Award shall become
effective as of the date set forth in the Certificate, after you have signed and returned the Certificate to the Company. 
 2. Vesting; Change of
Control 
 (a) The Shares shall vest in full in favor of you on the date set forth in the Certificate provided you remain continuously
employed by the Company or any of its affiliates until such date. 
 (b) Notwithstanding the foregoing, in the event of a Change of Control
prior to the vesting of the Shares, all Shares shall vest in full as of the date of such Change of Control if you have been continuously employed by the Company or any of its affiliates until the date of such Change of Control. For purposes of
hereof, the term “Change of Control” means any of the following events: 
  

	 	I.	The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of twenty percent (20%) or more of either (A) the then outstanding shares of common stock of the Company or (B) the combined
voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors; provided, however, that for purposes of this subsection (a), the following share acquisitions shall not constitute a
Change of Control; (A) any acquisition directly from the Company or (B) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company; or

  

	 	II.	The consummation of any merger or other business combination of the Company, the sale or lease of all or substantially all the Company’s assets or any combination of the
foregoing transactions (each a “Transaction”) other than a Transaction immediately following which the stockholders of the Company and any trustee or fiduciary of any Company employee benefit plan immediately prior to the Transaction own
at least sixty percent (60%) of the voting power, directly or indirectly, of (A) the surviving corporation in any such merger or other business combination; (B) the purchaser or lessee of the Company’s assets; or (C) both
the surviving corporation and the purchaser or lessee in the event of any combination of Transactions; or 

  

	 	III.	Within any 24-month period, the persons who were directors immediately before the beginning of such period (the “Incumbent Directors”) shall cease (for any reason other
than death) to constitute at least a majority of the Board of Directors of the Company or the board of directors of a successor to the Company. For this purpose, any director who was not a director at the beginning of such period shall be deemed to
be an Incumbent Director if such director was elected to the Board of Directors of the Company by, or on the recommendation of or with the approval of, at least three-fourths of the directors who then qualified as Incumbent Directors (so long as
such director was not nominated by a person who has expressed an intent to effect a Change of Control or engage in a proxy or other control contest); or. 

  

	 	IV.	Such other event or transaction as the Board of Directors of the Company shall determine constitutes a Change of Control. 

  

 2 

 3. Forfeiture; Early Vesting in Event of Death, Disability or Retirement 
 (a) If you cease to be an employee of the Company or any of its affiliates for any reason other than death, Disability (as defined below) or Retirement
(as defined below), prior to the vesting of the Shares pursuant to Section 2 hereof, then your rights to all of the Shares not theretofore vested shall be immediately and irrevocably forfeited. 
 (b) If you cease to be an employee of the Company or any of its affiliates by reason of death, Disability or Retirement prior to the vesting of the
Shares pursuant to Section 2 hereof, then you or your estate shall become immediately vested, as of the date of such death, Disability or Retirement, in all unvested Shares; provided, however, that the vesting upon Retirement of
all unvested Shares shall require the approval of the Executive Personnel and Compensation Committee of the Board of Directors of the Company (the “Committee”). No transfer by will or by laws of descent and distribution of any Shares which
vest by reason of your death shall be effective to bind the Company, unless the Company shall have been furnished with written notice of such transfer and a copy of the will or such other evidence as the Company may deem necessary to establish the
validity of the transfer. 
 For purposes hereof, “Disability” is defined as eligibility for long-term disability payments under
the applicable Long-Term Disability Plan of the Company; and “Retirement” is defined as severance of employment after age 55, with ten (10) or more years of service with the Company or its affiliates. 
 4. Restrictions on Transfer 
 Except as may be
otherwise determined by the Committee, until the Shares vest pursuant to Section 2 or 3 hereof, none of the Shares may be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of or encumbered by you, and no attempt to
transfer the Shares, whether voluntary or involuntary, by operation of law or otherwise, shall vest the transferee with any interest or right in or with respect to the Shares. 
 5. Issuance and Custody of Certificate 
 (a) The Company shall, at its option, cause the Shares to be
issued in “book entry” form, i.e. registered with the company’s stock transfer agent, in your name, or in the form of a certificate registered in your name, in each case, with the following legend or a legend containing words
substantially similar thereto: 
 “The shares of Common Stock represented by this book entry or certificate are subject
to forfeiture, and the transferability of this entry or certificate and the shares of Common Stock represented thereby are subject to the restrictions, terms and conditions (including restrictions against transfer) contained in the SUPERVALU INC.
2002 Stock Plan and a Restricted Stock Award Certificate executed by SUPERVALU INC. and the registered owner of such shares. Copies of such Plan and Certificate are on file in the office of the Secretary of SUPERVALU INC., 11840 Valley View Road,
Eden Prairie, Minnesota.” 
 (b) Any certificate issued pursuant to Section 5(a) hereof shall be deposited by the Company with the
Secretary of the Company or a custodian designated by the Secretary. Upon request, the Secretary or such custodian shall issue a receipt to you evidencing the certificate or certificates held which are registered in your name. 
 (c) After Shares vest pursuant to Sections 2 or 3 hereof, the Company shall promptly cause: (i) a certificate or certificates evidencing such vested
Shares to be issued and registered in your name or your name and the name of another adult person (21 years of age or older) as joint tenants, and delivered to you or your legal representative(s), beneficiary(ies) or heir(s); or, (ii) such
Shares to be registered in book entry form in your name or your name and the name of another adult person (21 years of age or older) as joint tenants, and sent by electronic delivery to your brokerage account or that of your legal representative(s),
beneficiary(ies) or heir(s); in each case, together with any other property held in custody with respect to such Shares pursuant to Section 6(c) hereof and free of the legend provided in Section 5(a) hereof. 
  

 3 

 Only whole Shares shall be issued to you pursuant to a certificate; the value of any fractional Share
shall be paid in cash at the time a certificate evidencing such fractional Share would otherwise have been delivered to you hereunder and shall be based on the Fair Market Value (as defined below) of the Common Stock. 
 6. Distributions and Adjustments 
 (a) If the Shares
vest in your favor subsequent to any change in the number or character of the outstanding Shares of the Common Stock (through merger, consolidation, reorganization, recapitalization, stock dividend or otherwise), you shall then receive upon such
vesting the number and type of securities or other consideration which you would have received if the Shares had vested prior to the event changing the number or character of outstanding Shares of Common Stock. 
 (b) Any additional Shares, any other securities of the Company and any other property (except for cash dividends or other cash distributions) distributed
with respect to the Shares prior to the date the Shares vest shall be subject to the same restrictions, terms and conditions as the Shares. Any cash dividends or other cash distributions payable with respect to the Shares shall be distributed to you
at the same time cash dividends or other cash distributions are distributed to stockholders of the Company generally. 
 (c) Any additional
Shares, any securities and any other property (except for cash dividends or other cash distributions) distributed with respect to the Shares prior to the date such Shares vest shall be promptly deposited with the Secretary or the custodian
designated by the Secretary to be held in custody in accordance with Section 5(c) hereof. 
 7. Taxes 
 (a) In order to comply with all applicable federal or state income, social security, payroll, withholding or other tax laws or regulations, the Company
may take such action, and may require you to take such action, as it deems appropriate to ensure that all applicable federal or state income, social security, payroll, withholding or other taxes, which are your sole and absolute responsibility, are
withheld or collected from you. 
 (b) You may elect to satisfy any federal and state income tax withholding obligations arising upon the
vesting of any Shares pursuant to Sections 2 or 3 hereof by (i) having the Company withhold a portion of the Shares otherwise to be delivered by you upon such vesting having a Fair Market Value (as defined below) equal to the amount of federal
and state income taxes required to be withheld on such vesting, or (ii) delivering to the Company shares of Common Stock, other than the Shares issuable upon such vesting, having a Fair Market Value equal to such taxes. You may elect to satisfy
any federal and state income tax withholding obligations arising prior to the vesting of any Shares pursuant to Sections 2 or 3 hereof by delivering to the Company Shares other than the Shares issuable upon such vesting having a Fair Market Value
equal to such taxes. For purposes hereof, the term “Fair Market Value” shall mean the average of the opening and closing sale price of a Share as reported on the New York Stock Exchange on the date of determination, or, if no trading in
the Common Stock occurred on the date of determination, on the day closest to the date of determination when such trading did occur. Any election pursuant to this paragraph (b) will be subject to such rules as may be adopted from time to time
by the Committee. 
 8. Employee Covenants. In consideration of benefits described elsewhere in these Restricted Stock Award Terms and Conditions and
the Certificate to which they apply, and in recognition of the fact that, as a result of your employment with the Company or any of its Affiliates, you have had or will have access to and gain knowledge of highly confidential or proprietary
information or trade secrets pertaining to the Company or its Affiliates, as well as the customers, suppliers, joint ventures, licensors, licensees, distributors, or other persons and entities with whom the Company or any of its Affiliates does
business (“Confidential Information”), which the Company or its Affiliates have expended time, resources, and money to obtain or develop and which have significant value to the Company and its Affiliates, you agree for the benefit of the
Company and its Affiliates, and as a material condition to your receipt of an Award of Restricted Stock, and the benefits described elsewhere in these Restricted Stock Award Terms and Conditions and accompanying the Certificate, as follows:

  

	 	(a)	 Non-Disclosure of Confidential Information. You acknowledge that you will receive access or have received access to Confidential Information about the
Company or its Affiliates, that this information was obtained or developed by the Company or its Affiliates at great expense and is zealously guarded by the Company and its Affiliates from unauthorized disclosure, and that your possession of this
special knowledge is due solely to your employment with the Company or one or more of its Affiliates. In recognition of the foregoing, you will not at any time during employment or following termination of 

  

 4 

	 	 
employment for any reason, disclose, use or otherwise make available to any third party, any Confidential Information relating to the Company’s or any
Affiliate’s business, products, services, customers, vendors, or suppliers; trade secrets, data, specifications, developments, inventions, and research activity; marketing and sales strategies, information, and techniques; long and short term
plans; existing and prospective client, vendor, supplier, and employee lists, contacts, and information; financial, personnel, and information system information and applications; and any other information concerning the business of the Company or
its Affiliates which is not disclosed to the general public or known in the industry, except for disclosure necessary in the course of your duties or with the express written consent of the Company. All Confidential Information, including all
copies, notes regarding, and replications of such Confidential Information will remain the sole property of the Company or its Affiliate, as applicable, and must be returned to the Company or such Affiliate immediately upon termination of your
employment. 

  

	 	(b)	Return of Property. Upon termination of employment with the Company or any of its Affiliates, or at any other time at the request of the Company, you shall deliver to a
designated Company representative all records, documents, hardware, software, and all other property of the Company or its Affiliates and all copies of such property in your possession. You acknowledge and agree that all such materials are the sole
property of the Company or its Affiliates and that you will certify in writing to the Company at the time of delivery, whether upon termination or otherwise, that you have complied with this obligation. 

  

	 	(c)	Non-Solicitation of Existing or Prospective Customers, Vendors, and Suppliers. You specifically acknowledge that the Confidential Information described in Section 10(a)
includes confidential data pertaining to existing and prospective customers, vendors, and suppliers of the Company or its Affiliates; that such data is a valuable and unique asset of the business of the Company or its Affiliates; and that the
success or failure of the their businesses depends upon the their ability to establish and maintain close and continuing personal contacts and working relationships with such existing and prospective customers, vendors, and suppliers and to develop
proposals which are specific to such existing and prospective customers, vendors, and suppliers. Therefore, during your employment with the Company or any of its Affiliates and for the twelve (12) months following termination of employment for
any reason, you agree that you will not, except on behalf of the Company or its Affiliates, or with the Company’s express written consent, solicit, approach, contact or attempt to solicit, approach, or contact, either directly or indirectly, on
your own behalf or on behalf of any other person or entity, any existing or prospective customers, vendors, or suppliers of the Company or its Affiliates with whom you had contact or about whom you gained Confidential Information during your
employment with the Company or its Affiliates for the purpose of obtaining business or engaging in any commercial relationship that would be competitive with the “Business of the Company” (as defined below in Section 8(e)(i)) or cause
such customer, supplier, or vendor to materially change or terminate its business or commercial relationship with the Company or its Affiliates. 

  

	 	(d)	Non-Solicitation of Employees. You specifically acknowledge that the Confidential Information described in Section 8(a) also includes confidential data pertaining to
employees and agents of the Company or its Affiliates, and you further agree that during your employment with the Company or its Affiliates and for the twelve (12) months following termination of employment for any reason, you will not,
directly or indirectly, on your own behalf or on behalf of any other person or entity, solicit, contact, approach, encourage, induce or attempt to solicit, contact, approach, encourage, or induce any of the employees or agents of the Company or its
Affiliates to terminate their employment or agency with the Company or any of its Affiliates. 

  

	 	(e)	Non-Competition. You covenant and agree that during your employment with the Company or any of its Affiliates and for the twelve (12) months following termination of
employment for any reason, you will not, in any geographic market in which you worked on behalf of the Company or any of its Affiliates, or for which you had any sales, marketing, operational, logistical, or other management or oversight
responsibility, engage in or carry on, directly or indirectly, as an owner, employee, agent, associate, consultant, partner, or in any other capacity, a business competitive with the Business of the Company. This Section 8(e) shall not apply in
the event of a Change of Control. 

  

	 	i)	 The “Business of the Company” shall mean any business or activity involved in grocery or general merchandise retailing and supply chain logistics,
including but not limited to grocery distribution, business-to-business portal, retail support services, and third-party logistics, of the type provided by 

  

 5 

	 	 
the Company or its Affiliates, or presented in concept to you by the Company or its Affiliates at any time during your employment with the Company or any of
its Affiliates. 

  

	 	ii)	To “engage in or carry on” shall mean to have ownership in such business (excluding ownership of up to 1% of the outstanding shares of a publicly-traded company) or to
consult, work in, direct, or have responsibility for any area of such business, including but not limited to operations, logistics, sales, marketing, finance, recruiting, sourcing, purchasing, information technology, or customer service.

  

	 	(f)	No Disparaging Statements. You agree that you will not make any disparaging statements about the Company, its Affiliates, directors, officers, agents, employees, products,
pricing policies or services. 

  

	 	(g)	Remedies for Breach of These Covenants. Any breach of the covenants in this Section 8 likely will cause irreparable harm to the Company or its Affiliates for which money
damages could not reasonably or adequately compensate the Company or its Affiliates. Accordingly, the Company or any of its Affiliates shall be entitled to all forms of injunctive relief (whether temporary, emergency, preliminary, prospective, or
permanent) to enforce such covenants, in addition to damages and other available remedies, and you consent to the issuance of such an injunction without the necessity of the Company or any such Affiliate posting a bond or, if a court requires a bond
to be posted, with a bond of no greater than $500 in principal amount. In the event that injunctive relief or damages are awarded to Company or any of its Affiliates for any breach by you of this Section 8, you further agree that the Company or
such Affiliate shall be entitled to recover its costs and attorneys’ fees necessary to obtain such recovery. In addition, you agree that upon your breach of any covenant in this Section, your Award shall be immediately forfeited.

  

	 	(h)	Enforceability of These Covenants. It is further agreed and understood by you and the Company that if any part, term, or provision of these Restricted Stock Award Terms and
Conditions should be held to be unenforceable, invalid, or illegal under any applicable law or rule, the offending term or provision shall be applied to the fullest extent enforceable, valid, or lawful under such law or rule, or, if that is not
possible, the offending term or provision shall be struck and the remaining provisions of these Restricted Stock Award Terms and Conditions shall not be affected or impaired in any way. 

 9. Arbitration 
 You and the Company agree that any
controversy, claim, or dispute arising out of or relating to the Restricted Stock Award Certificate or the breach of any of these Restricted Stock Award Terms and Conditions, or arising out of or relating to your employment relationship with the
Company or any of its affiliates, or the termination of such relationship, shall be resolved by binding arbitration before a neutral arbitrator under rules set forth in the Federal Arbitration Act. By way of example only, such claims include claims
litigated under federal, state and local statutory or common law, such as the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, as amended, including the Civil Rights Act of 1994, the Americans with Disabilities Act,
the law of contract and the law of tort. You and the Company agree that such claims may be brought in an appropriate administrative forum, but at the point at which you or the Company seek a judicial forum to resolve the matter, this agreement for
binding arbitration becomes effective. This agreement to arbitrate shall continue in full force and effect despite the forfeiture of your Award or the termination of your employment relationship with the Company or any of its affiliates. You and the
Company agree that any award rendered by the arbitrator shall be final and binding and that judgment upon the final award may be entered in any court having jurisdiction thereof. You and the Company hereby knowingly and voluntarily waive any right
to have any such dispute tried and adjudicated by a judge or jury. The arbitrator may grant any remedy or relief that the arbitrator deems just and equitable, including any remedy or relief that would have been available to you, the Company or any
of its affiliates had the matter been heard in court. All expenses of the arbitration, including the required travel and other expenses of the arbitrator and any witnesses, and the costs relating to any proof produced at the direction of the
arbitrator, shall be borne equally by you and the Company unless otherwise mutually agreed or unless the arbitrator directs otherwise in the award. The arbitrator’s compensation shall be borne equally by you and the Company unless otherwise
mutually agreed or unless the law provides otherwise. 
  

 6 

 10. Severability In the event that any portion of these Restricted Stock Award Terms and Conditions shall be held
to be invalid, the same shall not affect in any respect whatsoever the validity and enforceability of the remainder of these Restricted Stock Award Terms and Conditions. 
 11. Miscellaneous 
 (a) The terms and conditions set forth herein are subject in all respects to the
terms of the Plan. In the event that any provision of hereof is inconsistent with the terms of the Plan, the terms of the Plan shall govern. Any question of administration or interpretation arising hereunder shall be determined by the Committee or
its delegates, and such determination shall be final and conclusive upon all parties in interest. 
 (b) Nothing in the Certificate or herein
shall confer on you any right with respect to continuance of employment by the Company or any of its affiliates, nor will it interfere in any way with the right of the Company to terminate such employment at any time with or without cause.

 (c) You shall have none of the rights of a shareholder with respect to the Shares until the Shares have vested in your favor as provided
herein, except the rights to receive all cash dividends or other cash distributions and the right to vote. 
 (d) Any compensation realized
from the receipt or payment of (or the lapse of restrictions relating to) the Award shall constitute a special long-term incentive payment to you and shall not be taken into account as compensation in determining the amount of any benefit under any
retirement or other employee benefit plan of the Company or any of its Affiliates. 
  

 7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}]]