Document:

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                                                                    Exhibit 10.8

                              EMPLOYMENT AGREEMENT

      AMENDMENT AND RESTATEMENT, made effective as of this 17th day of March,
2000, of the EMPLOYMENT AGREEMENT dated September 1, 1995, as amended, by and
between NABISCO, INC., a New Jersey corporation (the "Company"), and Douglas R.
Conant ("the Executive").

                                    RECITALS

      WHEREAS, the Executive and RJR Nabisco, Inc., a Delaware corporation
("RJRN"), entered into the Employment Agreement dated September 1, 1995; and

      WHEREAS, the Executive, RJRN and the Company executed an Amendment to the
Employment Agreement as of May 1, 1999; and

      WHEREAS, the Company and the Executive agree that the Employment Agreement
should be further amended and restated, in order to more effectively provide the
Executive continued incentives to remain in the service of the Company or its
subsidiaries or affiliates;

      NOW, THEREFORE, in consideration of mutual incentives, it is hereby agreed
by and between the Company, Nabisco Holdings Corp. ("NHC") and Nabisco Group
Holdings Corp. ("NGH") and the Executive to amend and restate the Employment
Agreement, effective on the date first above written, as follows:

      1. Employment. The Executive agrees to devote the Executive's working time
exclusively to the performance of such services for the Company or NHC or any of
their Subsidiaries or Affiliates (each, as defined below) as may be assigned to
the Executive from time to time and to perform such services faithfully and to
the best of the Executive's ability except as the provisions of subsections
4(b)(i) or 4(b)(ii) shall apply.

      For purposes of this Agreement, (i) "Affiliate" means, with respect to the
Company, NHC or NGH, any person or entity directly or indirectly controlling,
controlled by, or under common control with the Company, NHC or NGH, as the case
may be, and (ii) "Subsidiary" of the Company, NHC or NGH means any entity of
which securities or other ownership interests having ordinary voting power to
elect a majority of the board of directors or other persons performing similar
functions are at the time directly or indirectly owned by the Company, NHC or
NGH, as the case may be.
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      2. Term of Agreement. Subject to Section 7(e) hereof, this Agreement shall
commence on the date hereof and shall remain in effect so long as the Executive
remains employed by the Company or NHC or any of their subsidiaries or any
successor organizations.

      3. Termination of Employment Without Compensation Continuance.

            (a) Termination for Cause. This Agreement shall immediately be
      terminated and neither party shall have any obligation hereunder if the
      Executive's employment is terminated for Cause (as defined below).

                  (i) At any time before a Change of Control (as defined below)
            or following the second anniversary of such Change of Control,
            termination for "Cause" shall mean termination by the Company of the
            Executive's employment resulting from the Executive's: (A) criminal
            dishonesty; (B) deliberate and continual refusal to perform
            employment duties on substantially a full-time basis; (C) deliberate
            and continual refusal to act in accordance with any specific lawful
            instructions of a majority of the Board of Directors of NHC (the
            "NHC Board"); or (D) deliberate misconduct which could be materially
            damaging to the Company without reasonable good faith belief by the
            Executive that such conduct was in the best interests of the
            Company.

                  (ii) Any purported termination for Cause under Section 3(a)(i)
            shall not be applicable unless (A) the Executive is advised in
            writing that the Executive is being terminated for Cause and, (B) if
            within fifteen (15) days thereafter the Executive submits to the
            Chief Executive Officer of the Company a written objection to such a
            determination, the Compensation Committee of the NHC Board at or
            before its next regularly scheduled meeting determines by majority
            vote that the Executive has been terminated for Cause.

                  (iii) During the two (2) year period beginning on a Change of
            Control, termination for "Cause" shall mean termination by the
            Company of the Executive's employment resulting from the
            Executive's: (A) willful and continued failure substantially to
            perform employment duties with the Company or any Subsidiary or
            Affiliate (other than as a result of total or partial incapacity due
            to physical or mental illness or as a result of a termination by the
            Executive for Good Reason (as defined below)) after a written demand
            for substantial performance is delivered to the Executive by the NHC
            Board, which demand specifically identifies the manner in which the
            NHC Board believes that the Executive has not substantially
            performed the Executive's duties; (B) the willful engaging by the
            Executive in conduct which is demonstrably and materially injurious
            to NHC, NGH or the Company, monetarily or otherwise; or (C) the
            Executive's conviction of a

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            felony under the laws of the United States, any state or any other
            country or political sub-division thereof involving moral turpitude.
            For purposes of this paragraph (iii), no act or failure to act on
            the Executive's part shall be deemed "willful" unless done or
            omitted to be done by the Executive not in good faith and without
            reasonable belief that the Executive's action or omission was in the
            best interest of the Company. Notwithstanding the foregoing, the
            Executive shall not be deemed to have been terminated for Cause
            under this paragraph (iii) unless and until there shall have been
            delivered to the Executive documentation of the affirmative vote
            (which cannot be delegated) of not less than three-quarters (3/4) of
            the entire membership of the NHC Board of Directors at a meeting of
            the NHC Board called and held for such purpose (after reasonable
            notice to the Executive and an opportunity for the Executive,
            together with the Executive's counsel, to be heard before the NHC
            Board), finding that in the good faith opinion of the NHC Board the
            Executive was guilty of conduct set forth above in subclauses (A),
            (B) or (C) above, specifying the particulars thereof in detail.

            (b) Voluntary Termination of Employment by the Executive. The
      Executive reserves the right to terminate voluntarily the Executive's
      employment at any time for any reason. Upon such a termination other than
      a termination pursuant to Section 4(b), all obligations of the Company
      hereunder shall be cancelled automatically, and the Executive shall not be
      entitled to any form of Compensation Continuance under this Agreement,
      including that described in Section 5 below.

            (c) Disability. The event of physical or mental disability of a
      nature that entitles the Executive to benefits under the Company's
      Long-Term Disability Plan is not a termination of employment under any
      section of this Agreement. As such, disability shall not qualify the
      Executive for the Compensation Continuance described herein unless the
      Executive is terminated under Section 4(a) or Section 4(b)(i).

            (d) Death. In the event of the Executive's death prior to
      Involuntary Termination, this Agreement will be null and void.

      4. Termination With Compensation Continuance.

            (a) Involuntary Termination Without Cause by the Company.

                  (i) The Company reserves the right to terminate the employment
            of the Executive at any time for any reason subject to providing the
            compensation and benefits described herein. Except as provided in
            Section 6, the Company will provide the Executive with the
            Compensation Continuance described in Section 5 hereof if the
            Executive is involuntarily separated from active employment without
            Cause by the Company ("Involuntary Termination").

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                  (ii) The divestiture of the operating company employing the
            Executive, and the assignment of the obligations of the Company
            under this Agreement to such operating company, or its successor or
            acquiror, in connection with the divestiture of either all, or
            substantially all, the shares or assets of such operating company
            shall not automatically be an Involuntary Termination unless such
            divestiture and assignment would result in an Involuntary
            Termination under Section 4(b) hereof.

                  (iii) The transfer of the Executive's employment to any
            company that owns at least 50% of the voting power of the Company,
            or any subsidiary of such company (an "Affiliated Company"), shall
            not automatically be deemed an Involuntary Termination unless such
            transfer would result in an Involuntary Termination under Section
            4(b) hereof.

            (b) Deemed Involuntary Termination Without Cause by the Company.

                  (i) At any time before a Change of Control or following the
            second anniversary of a Change of Control, Involuntary Termination
            shall be deemed to occur if the Executive voluntarily terminates
            employment after: (A) the total amount of the Executive's base
            salary, annual bonus and long term incentive opportunity under the
            Annual Incentive Award Plans (or other annual incentive plans) of
            NGH or NHC, as the case may be, (collectively, as in effect from
            time to time, the "AIAPs") and Long Term Incentive Plans (or other
            long term incentive plans) of NGH or NHC, as the case may be
            (collectively, as in effect from time to time, the "LTIPs") is at
            any time reduced by more than 20% without the Executive's consent,
            provided, however, nothing herein shall be construed to guarantee
            the Executive's target award if performance is below target; (B) the
            Executive's job responsibilities are substantially reduced in
            importance without the Executive's consent or the Company fails to
            guarantee the obligations hereunder as required by Section 7(d); or
            (C) the Executive, without the Executive's consent, is at any time
            required as a condition of continued employment to relocate more
            than thirty-five (35) miles from the Executive's then current place
            of employment. Unless the Executive provides written notification of
            the Executive's non-consent to an event in (A), (B) or (C) above
            within ninety (90) days after the occurrence of such event, the
            Executive shall be deemed to have consented to the occurrence of
            such event and no deemed Involuntary Termination shall occur. If the
            Executive provides written notice of the Executive's non-consent to
            any of the events in (A), (B) or (C) above within ninety (90) days
            after the occurrence of such event, the Executive shall be deemed to
            have been Involuntarily Terminated ninety (90) days after receipt of
            such written notice by the Company.

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                  (ii) At any time during the two (2) year period beginning on a
            Change of Control, Involuntary Termination shall be deemed to occur
            if the Executive voluntarily terminates employment after an event of
            "Good Reason". For purposes of this Agreement "Good Reason" shall
            mean, without the Executive's express written consent, any of the
            following:

                        (A) Any reduction in the Executive's duties, any
                  diminution in the Executive's position or any adverse change
                  in the Executive's reporting relationship from those in effect
                  immediately prior to the Change of Control;

                        (B) Any reduction in the Executive's base salary, grade
                  or annual bonus or long term incentive opportunity as in
                  effect immediately prior to the Change of Control or as the
                  same may thereafter be increased from time to time during the
                  term of this Agreement;

                        (C) The failure to continue in effect any compensation
                  or benefit plan in which the Executive participates or is
                  entitled to participate in at the time of the Change of
                  Control, including but not limited to the relevant LTIP, the
                  relevant AIAP, any defined benefit or defined contribution
                  plan or related supplemental plans, or any substitute plans
                  adopted prior to the Change of Control, unless an equitable
                  arrangement (embodied in an ongoing substitute or alternative
                  plan providing the Executive with substantially similar
                  benefits) has been made with respect to such plan in
                  connection with the Change of Control, or the failure to
                  continue the Executive's participation therein on
                  substantially the same basis, both in terms of the amount of
                  the benefits provided and the level of the Executive's
                  participation relative to other participants, as existed at
                  the time of the Change of Control;

                        (D) The taking of any action which would directly or
                  indirectly reduce any of the benefits to be provided under
                  Section 5 or any benefits thereunder or any compensation or
                  benefit plan of the Company, NGH or NHC including, without
                  limitation the LTIPs, the AIAPs and the Company's Deferred
                  Compensation Plan or deprive the Executive of or reduce any
                  benefits or amounts with respect to any perquisite or any
                  material fringe benefit enjoyed by the Executive at the time
                  of the Change of Control, or the failure to provide the
                  Executive with the number of paid vacation days to which the
                  Executive is entitled on the basis of the Company's practice
                  with respect to the Executive as in effect at the time of the
                  Change of Control;

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                        (E) Any material breach by the Company, NGH or NHC of
                  any provision of this Agreement including, but not limited to
                  any provision of Section 5, any benefits thereunder or any
                  compensation, benefit or perquisite plan of the Company, NGH
                  or NHC including, without limitation the LTIPs, the AIAPs and
                  the Company's Deferred Compensation Plan, or any agreements
                  entered into pursuant thereto;

                        (F) Any purported termination of Executive's employment
                  which is not effected pursuant to a Notice of Termination
                  satisfying the requirements of subsection (c) below; provided
                  further that for purposes of this Agreement, no such purported
                  termination shall be effective; or

                        (G) Requiring the Executive to be based at any office or
                  location more than thirty-five (35) miles from the office or
                  location at which the Executive was based immediately prior to
                  such Change of Control, except for travel reasonably
                  consistent with the Executive's travel requirements prior to
                  such Change of Control;

                        If the Executive provides written notice of the
                  Executive's non-consent to any of the events in (A), (B), (C),
                  (D), (E), (F) or (G), above within 180 days after the
                  occurrence of any such event, the Executive shall be deemed to
                  have been Involuntarily Terminated upon the earlier of the
                  date set forth in Executive's Notice of Termination or 181
                  days after the occurrence of such event.

                  (iii) As used herein, a "Change of Control" shall occur on the
            date upon which one of the following events occurs (except as
            otherwise provided in paragraph (C) below):

                        (A) Any individual, corporation, partnership, group,
                  associate or other entity or "person" as such term is defined
                  in Section 14(d) of the Securities Exchange Act of 1934 (the
                  "Exchange Act"), other than NHC, NGH or any of their
                  Subsidiaries, or any employee benefit plan(s) sponsored by
                  NHC, NGH or any of their Subsidiaries, is or becomes the
                  "beneficial owner" (as defined in Rule 13D-3 under the
                  Exchange Act), directly or indirectly, of 30% or more of the
                  combined voting power of NHC or NGH outstanding securities
                  ordinarily having the right to vote at elections of directors;

                        (B) Individuals who constitute the Board of either NHC
                  or NGH on January 1, 2000 (each such Board the "Incumbent
                  Board") cease for any reason to constitute at least a majority
                  of the Board of NHC or NGH, as the case may be, provided that
                  any person becoming a director subsequent to such date hereof
                  whose election, or nomination for election by NHC or NGH
                  shareholders, as the case may

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                  be, was approved by a vote of at least three-quarters of the
                  directors comprising that Incumbent Board (either by a
                  specific vote or by approval of the proxy statement of NHC or
                  NGH, as the case may be, in which such person is named a
                  nominee of NHC or NGH, as the case may be, but excluding for
                  this purpose any such individual whose initial assumption of
                  office occurs as a result of either an actual or threatened
                  election contest (as such terms are used in Rule 14a-11 of
                  Regulation 14A promulgated under the Exchange Act) or other
                  actual or threatened solicitation of proxies or consents by or
                  on behalf of an individual, corporation, partnership, group,
                  associate or other entity or "person" other than the NHC or
                  NGH Board, as the case may be, shall be, for purposes of this
                  paragraph (B), considered as though such person were a number
                  of the Incumbent Board.

                        (C) The approval by the shareholders of NHC or NGH, as
                  the case may be, of a plan or agreement providing (I) for a
                  merger or consolidation of NHC or NGH, as the case may be,
                  other than with a wholly-owned subsidiary or with NGH, NHC or
                  any of their subsidiaries, and other than a merger or
                  consolidation that would result in the voting securities of
                  NHC or NGH, as the case may be, outstanding immediately prior
                  thereto continuing to represent (either by remaining
                  outstanding or by being converted into voting securities of
                  the surviving entity) more than 50% of the combined voting
                  power of the voting securities of NHC or NGH, as the case may
                  be, of such surviving entity outstanding immediately after
                  such merger or consolidation or (II) for a sale, exchange or
                  other disposition of all or substantially all of the assets of
                  NHC or NGH. If any of the events enumerated in this paragraph
                  (C) occurs, the NHC Board shall determine the effective date
                  of the Change of Control resulting therefrom.

             (c) (i) Any purported termination of the Executive's employment by
      the Company or by the Executive shall be communicated by written Notice of
      Termination to the other party hereto in accordance with Section 7(b)
      hereof. For purposes of this Agreement, (A) during the twenty-four (24)
      month period beginning on a Change of Control a "Notice of Termination" by
      the Company shall mean, and (B) prior to, and following the second
      anniversary of, a Change of Control a "Notice of Termination" by the
      Executive shall mean, a notice which shall indicate the specific
      termination provision in this Agreement relied upon and shall set forth in
      reasonable detail the facts and circumstances claimed to provide a basis
      for termination of Executive's employment under the provision so
      indicated.

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                  (ii) "Date of Termination" shall mean (i) if the Executive's
            employment is terminated for Disability, thirty (30) days after
            Notice of Termination is given (provided that the Executive shall
            not have returned to the full-time performance of the Executive's
            duties during such thirty (30) day period), (ii) if the Executive's
            employment is terminated by reason of the Executive's death, the
            date of the Executive's death, (iii) if the Executive's employment
            is terminated by reason of the Executive's Retirement, for Cause,
            Involuntary Termination or for any other reason (other than
            Disability or death), the date specified in the Notice of
            Termination (which (A) in the case of a termination for Cause during
            the two (2) year period beginning on a Change of Control shall not
            be less than thirty (30) nor more than sixty (60) days from the date
            such Notice of Termination is given and (B) in the case of the
            Executive's voluntary termination (other than pursuant to Section
            4(b) and other than during the two (2) year period beginning on a
            Change of Control) shall not be less than three (3) months after the
            date such Notice of Termination is given).

      5. Compensation Continuance Under This Agreement.

            (a) Compensation Period. If at any time during the term of this
      Agreement the Executive has an Involuntary Termination pursuant to Section
      4, subject to Section 6(g), if applicable, the Executive will be provided
      with Compensation Continuance as provided in this Section 5.

            (b) Cash Compensation.

                  (i)(A) Upon an Involuntary Termination prior to, or after the
            second anniversary of, a Change of Control, the Executive will be
            entitled to cash compensation equal to two (2) year's Full Pay,
            calculated as described below, payable in equal monthly installments
            over the Compensation Period (as defined below), each installment
            representing 1/18th of one year's Full Pay (as defined below). One
            year's "Full Pay" is the sum of (x) plus (y), where (x) is the
            Executive's highest annual rate of base salary in effect during the
            twelve (12) month period prior to the Executive's Involuntary
            Termination and (y) is the annual target amount of the Executive's
            annual bonus under the relevant AIAP and/or LTIP for the calendar
            year in which the Executive's employment terminated (or, if greater,
            the amount of such actual award for the next preceding calendar year
            of full-time employment). For all purposes of this Agreement,
            "Compensation Period" shall mean the three (3) year period
            commencing on the Date of Termination.

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                        (B) Upon an Involuntary Termination during the two (2)
            year period beginning on a Change of Control, the Executive will be
            entitled to a lump sum payment within fifteen (15) business days
            following the date of such Involuntary Termination equal to twice
            the sum of (u), (v) and (w), where (u) is the greater of the
            Executive's annual base salary as in effect immediately prior to
            such Termination or immediately prior to such Change of Control
            (such greater amount, the "Base Salary"), (v) is the greater of the
            Executive's annual target bonus under the relevant AIAP and/or LTIP
            immediately prior to such Termination or immediately prior to the
            Change of Control or ("Target Amount") and (w) is 1.5 times the
            greater of the annual perquisite allowance applicable to the
            Executive under the Nabisco Flexible Perquisite Program (the
            "Program") as in effect immediately prior to such Termination or
            immediately prior to such Change of Control (such greater amount,
            the "Allowance"). The sum of Base Salary, Target Amount and
            Allowance are hereinafter referred to as "Base Cash". For purposes
            of this Agreement, "Compensation Period" shall mean the three (3)
            year period commencing on the Date of Termination.

                  (ii) Cash compensation paid pursuant to this Section 5(b)
            shall be subject to all required payroll deductions.

            (c) Annual Incentive and Retention Plan Awards.

                  (i) Upon an Involuntary Termination prior to, or after the
            second anniversary of, a Change of Control, the Executive will be
            paid at the time of such Involuntary Termination a portion of the
            Executive's annual bonus under the relevant AIAP and/or LTIP, based
            upon the target award for the year in which the Executive's
            Involuntary Termination occurs, prorated for the Executive's active
            employment during such year. Except as stated in the foregoing
            sentence, all provisions of the relevant AIAP and/or LTIP shall be
            applicable to the Executive.

                  (ii) Upon an Involuntary Termination prior to, or after the
            second anniversary of, a Change of Control, all provisions of NHC's
            1999 Retention Program (the "1999 Program") shall be applicable to
            the Executive.

                  (iii) Upon an Involuntary Termination during the two (2) year
            period beginning on a Change of Control, the Company shall pay to
            the Executive, not later than fifteen (15) business days following
            the Date of Termination, a lump sum cash payment equal to the sum of
            (A) and (B), where (A) is Executive's AIAP Vested Amount for such
            plan year and (B) is the sum of (x) and (y) where (x) is the
            Executive's Vested 1999 Program Award Amount and (y) is the
            Executive's Earned 1999 Program Amount (each as defined in Exhibit
            A) as of the Date of Termination.

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            (d) Long Term Incentive Plan Awards. The treatment of long term
      incentive awards during the Compensation Period shall be determined
      pursuant to the terms of the relevant LTIP and related award agreements;
      provided, however, that for such purposes, the Compensation Period shall
      be treated as a period of salary and benefit continuance.

            (e) Welfare Benefits. During the Compensation Period the Executive
      will be provided the welfare benefits and other fringe benefits afforded
      by the employee benefit plans and programs maintained by the Company in
      which the Executive participated immediately prior to Involuntary
      Termination.

            (f) Retirement and Savings Plans.

                  (i) If Executive was participating in any Retirement Plan or
            Savings Plan (each as defined in Exhibit A) immediately prior to an
            Involuntary Termination prior to, or after the second anniversary
            of, a Change of Control, the Executive will continue to accrue or be
            deemed to accrue benefits during the Compensation Period under such
            Retirement Plans and Savings Plans for purposes of benefit accrual
            and employer matching contributions, as applicable, based on the
            same formula and matching amount as in effect immediately prior to
            such Termination. If the Executive will have attained age 50 at the
            end of the Compensation Period with 10 years of service (including
            the Compensation Period), the Executive will, subject to the
            conditions of Paragraph 6, be deemed retired with the consent of the
            Company for the purposes of welfare and executive compensation plans
            but not for the purposes of any Retirement or Savings Plan.
            Notwithstanding any provision herein to the contrary, upon such a
            Termination pension benefits under any Retirement Plan based on
            "Average Final Compensation" will be calculated applying the rate of
            one year's Full Pay and the Executive's Annual Flexible Perquisite
            Allowance for each year in the Compensation Period.

                  (ii) If Executive was participating in any Retirement Plan
            immediately prior to an Involuntary Termination during the two (2)
            year period beginning on a Change of Control, the Executive will be
            deemed to accrue benefits during the Compensation Period under such
            Retirement Plans for purposes of benefit accrual based on the same
            formula as in effect immediately prior to such Termination. If the
            Executive will have attained age 50 at the end of the Compensation
            Period with 10 years of service (including the Compensation Period),
            the Executive will, subject to the conditions of Paragraph 6, be
            deemed retired with the consent of the Company for the purposes of
            welfare and executive compensation plans but not for the purposes of
            any Retirement. Notwithstanding any provision herein to the
            contrary, upon such a Termination pension benefits under any
            Retirement Plan based on "Average Final Compensation" will be
            calculated applying the rate of one year's Base Cash for each year
            in the Compensation Period.

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            (g) Flexible Perquisite Program. During the Compensation Period, the
      Executive shall continue to receive benefits under the Program; provided,
      further, that in the event of an Involuntary Termination during the two
      (2) year period beginning on a Change of Control, ownership of the
      automobile assigned to the Executive immediately prior to such Termination
      shall be transferred to the Executive within fifteen (15) business days
      after such Termination. At the time of such transfer, the Company shall
      pay to the Executive such amount in cash that, after payment of all
      applicable federal, state and local taxes thereon, computed at the maximum
      marginal rates, is equal to all such taxes, so computed, imposed in
      connection with such transfer.

            (h) Outplacement. During the Compensation Period, Executive will be
      provided with outplacement counseling services at Company expense;
      provided, however, this expense shall not exceed 18% of the amount of one
      year's Full Pay or Base Cash, as the case may be. This counseling shall
      include, but is not limited to, skill assessment, job market analysis,
      resume preparation, interviewing skills, job search techniques and
      negotiating.

6. Conditions on Compensation Continuance.

            (a) Availability and Consulting. Upon an Involuntary Termination
      prior to, or after the second anniversary of, a Change of Control, during
      the related Compensation Period the Executive shall provide consulting
      services to the Company on a reasonable basis subject to appropriate
      notice and reimbursement of all travel and other expenses. During the
      first six (6) months of such Compensation Period, the Executive may be
      required by the Company to provide up to fifteen (15) days of consultation
      during normal business hours and business days. When and if the Executive
      becomes employed on a full-time basis, either with another company or on a
      self-employed basis, the Executive's obligation to provide consulting
      services shall be limited by the requirements of such employment, and
      under appropriate circumstances, may be restricted to telephone
      conference.

            (b) Confidentiality and Conduct. The Executive warrants that the
      Executive will not disclose to any other person any confidential
      information or trade secrets concerning the Company or any of its
      subsidiaries at any time during or after the Compensation Period and upon
      an Involuntary Termination prior to, or after the second anniversary of, a
      Change of Control, the Executive will at all times refrain from taking any
      action or making any statements, written or oral, which are intended to
      and do disparage the goodwill or reputation of the Company, its directors,
      officers or executives or which could adversely affect the morale of
      Company employees.

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            (c) Breach of Conditions. In the event that the Executive
      unreasonably refuses to provide consulting services to the extent required
      under paragraph (a) above or materially violates the terms and conditions
      of paragraph (b) above, the Company may, at its election upon ten (10)
      days notice, terminate any ongoing Compensation Period, discontinue cash
      compensation payments and employee benefits coverage and cancel any
      outstanding stock options or restricted stock. The Company may also
      initiate any form of legal action it may deem appropriate seeking damages
      or injunctive relief with respect to any material violations of paragraph
      (b) above.

            (d) Non-Competition. Any Compensation Period resulting from an
      Involuntary Termination prior to, or after the second anniversary of, a
      Change of Control shall be terminated if the Executive, without the
      Company's written approval, accepts a substantially similar or higher
      executive position, paying a substantially comparable or greater level of
      cash compensation, with any company (other than an Affiliate of the
      Company) conducting a business which is substantially competitive with a
      business conducted by the Company. Alternatively, the Company may, in its
      discretion, appropriately reduce the Executive's cash compensation and
      employee benefits coverage for the balance of such Compensation Period.

            (e) Employment With Another Employer During Compensation Period.
      Except as otherwise provided in this Section 6, if the Executive commences
      employment with another employer during a Compensation Period commencing
      prior to, or after the second anniversary of, a Change of Control, the
      Executive will continue to receive the compensation continuance provided
      under Section 5 for the balance of such Compensation Period, except that,
      unless otherwise required by law, benefits under the Company's Employee
      Benefits Plans, including the Program, if applicable, shall be
      appropriately terminated or offset to the extent the same are provided by
      the other employer.

            (f) Other Severance Benefits. The Executive is entitled to no form
      of severance benefits, including benefits otherwise payable under any of
      the Company's regular severance policies, other than those set forth or
      made applicable by reference in this Agreement. Notwithstanding the
      foregoing, the Executive will at the time of termination of employment be
      eligible for any form of post-retirement benefit provided under the
      Company's qualified Employee Benefits Plans, including retiree medical
      benefits, as any other employee upon retirement with the same age and
      service. Nothing contained in this Agreement shall adversely affect the
      Executive's rights to accrued vested pension benefits or the Executive's
      right to receive previously deferred awards or amounts under any of the
      Company's short and long term incentive award programs or deferred
      compensation plans or perquisite programs.

                                       12
<PAGE>

            (g) Release and Waiver of Claims. In consideration of the
      compensation and benefits continuance available pursuant to this
      Agreement, upon an Involuntary Termination prior to, or after the second
      anniversary of, a Change of Control the Executive agrees to execute a
      release, in form and substance reasonably acceptable to the Executive and
      the Company, releasing the Company, NHC and NGH from all claims and
      liabilities relating to such Termination and the Company's employment of
      the Executive.

            (h) Disability. In the event the Executive is eligible for benefits
      under the Company's Short Term or Long Term Disability Plan during the
      Executive's Compensation Period, any Compensation Continuance will be
      suspended while disability benefits are paid from any Company plan and
      resumed when such disability payments cease. All other provisions of this
      Agreement shall remain in effect notwithstanding the Executive's
      disability.

            (i) Death. In the event of the Executive's death subsequent to
      commencement of the Executive's Compensation Period hereunder, the balance
      of Compensation Continuance will be paid to the Executive's beneficiary in
      a lump sum. "Beneficiary" shall mean the Executive's designated
      beneficiary under the Executive's Executive Program life insurance or, if
      not so eligible, the Executive's core life insurance benefit under the
      Company's plans.

            (j) No Mitigations. Notwithstanding anything to the contrary in this
      Agreement, the Executive shall not be required to mitigate the amount of
      any payment provided for in Section 5 by seeking other employment or
      otherwise, nor, except under coordination of benefit rules in connection
      with certain welfare benefits under Section 5(e), shall the amount of any
      payment or benefit provided for in Section 5 hereof be reduced by any
      compensation earned by the Executive as the result of employment by
      another employer or by retirement benefits after the Date of Termination
      of employment, or otherwise.

      7. General Provisions.

            (a) Limited Right of Appeal. If the Executive's Compensation Period
      is terminated pursuant to Section 6, the Executive may, within fifteen
      (15) days after mailing of notice thereof to the Executive, submit to the
      Chief Executive Officer of the Company a written objection to such
      termination. In such event, the Compensation Committee of the NHC Board at
      or before its next regularly scheduled meeting must determine by majority
      vote that termination of the Compensation Period was appropriate or,
      failing that, the Compensation Period must be reinstated with full
      retroactive effect.

                                       13
<PAGE>

            (b) Notices. All notices hereunder shall be in writing and deemed
      given if delivered by hand and receipted or if mailed by registered mail,
      return receipt requested. Notices to the Company shall be directed to the
      Corporate Secretary at the Company's headquarters offices. Notices to the
      Executive shall be directed to the Executive's last known home address.

            (c) Limited Waiver. The waiver by any party hereto of a violation of
      any of the provisions of this Agreement, whether express or implied, shall
      not operate or be construed as a waiver of any subsequent violation of any
      such provision.

            (d) No Assignment. Except as provided herein, no right, benefit,
      obligation or interest hereunder shall be subject to assignment,
      encumbrance, charge, pledge, hypothecation or set off by Executive or the
      Company. The Company, however, may assign its obligations hereunder in the
      event of the transfer of the Executive's employment to an Affiliated
      Company or the divestiture (whether by the sale of shares or assets) of
      the operating company employing the Executive. In the event the
      obligations of the Company under this Agreement are assigned to an
      employing Affiliated Company as contemplated by Section 4(a)(iii), the
      Company agrees to guarantee to Executive the obligations of such
      Affiliated Company under this Agreement. Except as provided in the
      preceding sentence, upon any permitted assignment of the Company's
      obligations hereunder, "Company" shall be deemed to refer to the assignee
      as the context may require.

            (e) Amendment. This Agreement may not be amended, modified or
      cancelled except by written agreement of the parties.

            (f) Severability. In the event that any provision or portion of this
      Agreement shall be determined to be invalid or unenforceable for any
      reason, the remaining provisions of this Agreement shall remain in full
      force and effect to the fullest extent permitted by law.

            (g) Binding Effect. This Agreement shall be binding upon and inure
      to the benefit of the Executive, the Company, its affiliates, and any
      successor organization or organizations which shall succeed to
      substantially all of the business and property of the Company, whether by
      means of merger, consolidation, acquisition of substantially all of the
      assets of the Company or otherwise, including by operation of law.

            (h) Unsecured Promise. Unless otherwise stated herein, no benefit or
      promise hereunder shall be secured by any specific assets of the Company.
      Unless otherwise stated herein, the Executive shall have only the rights
      of an unsecured general creditor of the Company in seeking satisfaction of
      such benefits or promises. Notwithstanding the foregoing, the Company may
      choose to maintain a rabbi trust or trusts for the purpose of paying
      certain of the benefits hereunder or under other plans and programs of the
      Company and, if so, the Executive shall be entitled to payments therefrom,
      if any, as and to the extent provided in such rabbi trust or trusts.

                                       14
<PAGE>

            (i) Governing Law. This Agreement has been made in and shall be
      governed and construed in accordance with the laws of the State of
      Delaware.

            (j) Entire Agreement. This Agreement sets forth the entire agreement
      and understanding of the parties hereto with respect to the matters
      covered hereby. This Agreement supersedes and replaces any prior agreement
      with respect to employment, compensation continuation and the matters
      contained in this Agreement which the Executive may have had with the
      Company or any affiliate.

            (k) Legal Fees and Expenses.

                  (i) The Company shall pay to the Executive as incurred all
            legal and accounting fees and expenses incurred by the Executive as
            a result of the Executive's Involuntary Termination on or during the
            two (2) year period beginning on a Change of Control (including all
            such fees and expenses, if any, in seeking to obtain or enforce any
            right or benefit provided by this Agreement or any other
            compensation-related plan, agreement or arrangement of the Company)
            unless the Executive's claim is found by an arbitral tribunal of
            competent jurisdiction to have been frivolous.

                  (ii) The Company shall pay to the Executive as incurred all
            legal and accounting fees and expenses incurred by the Executive
            during the two (2) year period beginning on a Change of Control as a
            result of both (A) the Executive's Involuntary Termination prior to
            such Change of Control and (B) the Company's refusal after such
            Change of Control to provide any right or benefit provided by this
            Agreement or any other compensation-related plan, agreement or
            arrangement of the Company in respect of such Termination, including
            all such fees and expenses, if any, in seeking to obtain or enforce
            any such right or benefit unless the Executive's claim is found by
            an arbitral tribunal or court of competent jurisdiction to have been
            frivolous.

            (l) Certain AIAP and LTIP Change of Control Provisions.

                  (i) In the event of a Change of Control, the Executive will be
            paid within fifteen (15) business days following the date of such
            Change of Control a lump sum cash payment equal to the Executive's
            AIAP Vested Amount.

                  (ii) Upon a Change of Control, all stock options, shares of
            restricted stock, restricted stock units and restricted stock
            equivalents then held by the Executive under either LTIP shall
            become 100% vested and non-forfeitable on the date of such Change of
            Control and any restrictions thereon shall immediately lapse on such
            date.

                                       15
<PAGE>

            (m) Certain Payments.

                  (i) Anything herein to the contrary notwithstanding, in the
            event that it is determined that any payment or distribution by the
            Company to or for the Executive's benefit, whether paid or payable
            or distributed or distributable pursuant to the terms hereof,
            including but not limited to Section 7(l), or otherwise, other than
            any payment pursuant to this Section 7(m), (a "Payment"), would be
            subject to the excise tax imposed by Section 4999 of the Code or any
            interest or penalties with respect to such excise tax (such excise
            tax, together with any such interest and penalties, are hereinafter
            collectively referred to as the "Excise Tax"), then the Executive
            shall be entitled to receive, within fifteen (15) business days
            following the determination described in Section 7(m)(ii) below, an
            additional payment ("Excise Tax Adjustment Payment") in an amount
            such that after payment by the Executive of all applicable Federal,
            state and local taxes (computed at the maximum marginal rates and
            including any interest or penalties imposed with respect to such
            taxes), including any Excise Tax, imposed upon the Excise Tax
            Adjustment Payment, the Executive shall retain an amount of the
            Excise Tax Adjustment Payment equal to the Excise Tax imposed upon
            the Payments.

                  (ii) All determinations required to be made under this Section
            7(m), including whether Excise Tax Adjustment Payment is required
            and the amount of such Excise Tax Adjustment Payment, shall be made
            by Deloitte & Touche LLP, or such other accounting firm as the
            Company may designate prior to a Change of Control, which shall
            provide to the Company and the Executive detailed supporting
            calculations within fifteen (15) business days of the date of the
            Executive's termination of employment. Except as hereinafter
            provided, any determination by Deloitte & Touche LLP, or such other
            accounting firm as the Company may designate prior to a Change of
            Control, shall be binding upon the Company and the Executive. As a
            result of the uncertainty in the application of Section 4999 of the
            Code at the time of the initial determination hereunder, it is
            possible that (x) Excise Tax Adjustment Payments which should have
            been made will not have been made by the Company ("Underpayment"),
            or (y) certain Payments will have been made which should not have
            been made ("Overpayment"), consistent with the calculations required
            to be made hereunder. In the event of an Underpayment, the Company
            shall promptly determine the amount of the Underpayment that has
            occurred and any such Underpayment shall be promptly paid by the
            Company to or for the Executive's benefit. In the event that the
            Executive discovers that an Overpayment shall have occurred, the
            amount thereof shall be promptly repaid to the Company.

                                       16
<PAGE>

            (n) Arbitration. Following a Change of Control, any dispute or
      controversy arising under or in connection with this Agreement shall be
      settled exclusively by arbitration in New York, New York in accordance
      with the National Rules for the Resolution of Employment Disputes of the
      American Arbitration Association then in effect. The determination of the
      arbitral tribunal shall be conclusive and binding on the parties and
      judgment may be entered on the arbitrator's award in any court having
      jurisdiction.

            (o) Unconditional Obligation. The Company's obligations to make all
      payments and honor all commitments under this Agreement or otherwise
      following a Change of Control or in connection with an Involuntary
      Termination during the two (2) year period beginning on a Change of
      Control shall be absolute and unconditional and shall not be affected by
      any circumstances including, without limitation, any set-off,
      counterclaim, recoupment, defense or other right which the Company may
      have against the Executive.

            (p) Late Payments. To the extent that any payments required to be
      made hereunder following a Change of Control in connection with any
      Involuntary Termination occurring prior to the second anniversary of such
      Change of Control are not made within the period specified therefor, the
      Company shall be liable for interest on such delayed payments at the rate
      of 150% of the prime rate compounded monthly, as posted by the Morgan
      Guaranty Trust Company of New York, from time to time.

                                       17
<PAGE>

            (q) Actuarial Calculations. All required actuarial calculations of
      payments to be made hereunder shall be made by Watson Wyatt Worldwide, New
      York, New York, or such other actuarial firm as the Company may designate
      prior to a Change of Control.

      IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.

                                    NABISCO, INC.

                                    By: /s/ C. Michael Sayeau
                                       ------------------------------------
                                       C. Michael Sayeau
                                       Executive Vice President and
                                       Chief Personnel Officer

                                    NABISCO HOLDINGS CORP.

                                    By: /s/ C. Michael Sayeau
                                       ------------------------------------
                                       C. Michael Sayeau
                                       Executive Vice President and
                                       Chief Personnel Officer

                                    NABISCO GROUP HOLDINGS, INC.

                                    By: /s/ James M. Kilts
                                       ------------------------------------
                                       James M. Kilts
                                       President and Chief Executive Officer

THE EXECUTIVE

/s/ Douglas R. Conant
---------------------
Douglas R. Conant

                                       18
<PAGE>

                                    EXHIBIT A
                                   DEFINITIONS

      AIAP Vested Amount means, as of a Change of Control or as of a Termination
Date during the two (2) year period beginning on a Change of Control, as the
case may be, an amount equal to the value of the Executive's target award under
the relevant AIAP for the relevant performance period in which the Change of
Control or such termination occurs, as the case may be, multiplied by a
fraction, the numerator of which is the number of months (including partial
months) in the period beginning on the first day of the relevant performance
period and ending on the Change of Control or such Termination Date, as the case
may be, and the denominator of which is the number of months in such performance
period; provided that in the event of a termination of employment following a
Change of Control in the year in which a Change of Control occurs, for purposes
of computing the AIAP Vested Amount as of the date of such termination, the
performance period shall be deemed to begin on the first day following the
Change of Control and the target award shall be that in effect immediately
preceding such Change of Control.

      Earned 1999 Program Amount means, as of a Termination Date during the two
(2) year period beginning on a Change of Control, an amount equal to the
Executive's Retention Award or awards under the 1999 Program in respect of
calendar years ending prior to such Termination Date and not previously paid to
the Executive.

      Vested 1999 Program Amount means, as of a Termination Date during the two
(2) year period beginning on a Change of Control, an amount equal to the value
of the Executive's Retention Award under the 1999 Program in respect of the year
in which such Termination Date occurs.

      Retirement Plans means the Retirement Plan for Employees of Nabisco, Inc.,
the Additional Benefits Plan of Nabisco, Inc. and participating Companies, the
Supplemental Benefits Plan of Nabisco, Inc. and participating Companies and the
Supplemental Executive Retirement Plan of Nabisco, Inc. and participating
Companies, and such other plans as the Board may hereafter determine.

      Savings Plans means the Capital Investment Plan of Nabisco, Inc., the
Additional Benefits Plan of Nabisco, Inc. and participating Companies and the
Supplemental Benefits Plan of Nabisco, Inc. and participating Companies, and
such other plans as the Board may hereafter determine.<PAGE>

                                                                        EXH 10.1

                                                                   PLAN DOCUMENT

                             NABISCO HOLDINGS CORP.
                          1994 LONG TERM INCENTIVE PLAN
                            (AS AMENDED AND RESTATED
                             THROUGH MARCH 17, 2000)

1.     PURPOSE OF PLAN

       The Nabisco Holdings Corp. 1994 Long Term Incentive Plan (the "Plan"), as
amended and restated effective April 17, 1997, subject to the approval of
Nabisco's shareholders (the "Plan"), is designed:

       (a) to promote the long term financial interests and growth of Nabisco
Holdings Corp. and subsidiaries (the "Corporation") by attracting and retaining
management personnel with the training, experience and ability to enable them to
make a substantial contribution to the success of the Corporation's business;

       (b) to motivate management personnel by means of growth-related
incentives to achieve long range goals; and

       (c) to further the identity of interests of participants with those of
the stockholders of the Corporation through opportunities for increased stock,
or stock-based, ownership in the Corporation.

2.     DEFINITIONS

       As used in the Plan, the following words shall have the following
meanings:

       (a) "Base Value" means not less than the Fair Market Value on the date a
Stock Appreciation Right is granted, or, in the case of a Stock Appreciation
Right granted retroactively in tandem with (or in replacement of) an outstanding
stock option, not less than the exercise price of such option;

       (b) "Board of Directors" means the Board of Directors of Nabisco;

                                      -1-
<PAGE>

       (c) "Code" means the Internal Revenue Code of 1986, as amended;

       (d) "Committee" means the Compensation Committee of the Board of
Directors;

       (e) "Common Stock" or "Share" means Class A common stock of Nabisco which
may be authorized but unissued, or issued and reacquired;

       (f) "Dividend Equivalent Rights" shall have the meaning set forth in
Section 5(f);

       (g) "Effective Date" shall have the meaning set forth in Section 12;

       (h) "Exchange Act" means the Securities Exchange Act of 1934, as amended;

       (i) "Fair Market Value" means such value of a Share as reported for stock
exchange transactions and/or determined in accordance with any applicable
resolutions or regulations of the Committee in effect at the relevant time;

       (j) "Grant" means an award made to a Participant pursuant to the Plan and
described in Paragraph 5, including, without limitation, an award of an
Incentive Stock Option, Stock Option, Stock Appreciation Right, Dividend
Equivalent Right, Restricted Stock, Purchase Stock, Performance Units,
Performance Shares or Other Stock-Based Grant, or any combination of the
foregoing;

       (k) "Grant Agreement" means an agreement between Nabisco and a
Participant that sets forth the terms, conditions and limitations applicable to
a Grant;

       (l) "Incentive Stock Options" shall have the meaning set for in Section
5(a);

       (m) "Nabisco" means Nabisco Holdings Corp.;

       (n) "NGH" means Nabisco Group Holdings Corp.;

       (o) "Other Stock Based Grants" shall have the meaning set for in Section
5(i);

       (p) "Other Stock Options" shall have meaning set forth in Section 5(b);

       (q) "Participant" means an employee, or other person having a unique
relationship with Nabisco or one of its Subsidiaries, to whom Grants may be made
in accordance with Paragraph 4, or to whom one or more Grants have been made and
such Grants have not all been forfeited or terminated under the Plan; provided,
however, a non-employee director of NGH, Nabisco or one of its Subsidiaries may
not be a Participant;

       (r) "Performance Units" shall have the meaning set forth in Section 5(g);

       (s) "Performance Shares" shall have the meaning set forth in Section
5(h);

                                      -2-
<PAGE>

       (t) "Purchase Stock" shall have the meaning set forth in Section 5(e);

       (u) "Restricted Stock" shall have the meaning set forth in Section 5(d);

       (v) "Stock Appreciation Rights" shall have the meaning set forth in
Section 5(c);

       (w) "Subsidiary" means any corporation other than Nabisco in an unbroken
chain of corporations beginning with Nabisco if each of the corporations other
than the last corporation in the unbroken chain owns 50% or more of the voting
stock in one of the other corporations in such chain.

3.     ADMINISTRATION OF PLAN

       (a) The Plan shall be administered by the Committee or, in lieu of the
Committee, the Board of Directors. The Committee may adopt its own rules of
procedure, and the action of a majority of the Committee, taken at a meeting or
taken without a meeting by a writing signed by such majority, shall constitute
action by the Committee. The Committee shall have the power and authority to
administer, construe and interpret the Plan, to make rules for carrying it out
and to make changes in such rules. Any such interpretations, rules, and
administration shall be consistent with the basic purposes of the Plan.

       (b) The Committee may delegate to the Chief Executive Officer and to
other senior officers of the Corporation its duties under the Plan subject to
such conditions and limitations as the Committee shall prescribe except that
only the Committee may designate and make Grants to Participants who are subject
to Section 16 of the Exchange Act.

       (c) The Committee may employ attorneys, consultants, accountants,
appraisers, brokers or other persons. The Committee, Nabisco, and the officers
and directors of Nabisco shall be entitled to rely upon the advise, opinions or
valuations of any such persons. All actions taken and all interpretations and
determinations made by the Committee in good faith shall be final and binding
upon all Participants, Nabisco and all other interested persons. No member of
the Committee shall be personally liable for any action, determination or
interpretation made in good faith with respect to the Plan or the Grants, and
all members of the Committee shall be fully protected by Nabisco with respect to
any such action, determination or interpretation.

                                      -3-
<PAGE>

4.     ELIGIBILITY

       The Committee may from time to time make Grants under the Plan to such
employees, or other persons having a unique relationship with Nabisco or any of
its Subsidiaries, and in such form and having such terms, conditions and
limitations as the Committee may determine. No Grants may be made under this
Plan to non-employee directors of NGH, Nabisco or any of its Subsidiaries.
Grants may be granted singly, in combination or in tandem. The terms, conditions
and limitations of each Grant under the Plan shall be set forth in a Grant
Agreement, in a form approved by the Committee, consistent, however, with the
terms of the Plan; provided, however, such Grant Agreement shall contain
provisions dealing with the treatment of Grants in the event of the termination,
death or disability of a Participant, and may also include provisions concerning
the treatment of Grants in the event of a change of control of Nabisco.

5.     GRANTS

       From time to time, the Committee will determine the forms and amounts of
Grants for Participants. Such Grants may take the following forms in the
Committee's sole discretion:

       (a) INCENTIVE STOCK OPTIONS - These are stock options within the meaning
of Section 422 of the Internal Revenue Code of 1986, as amended ("Code"), to
purchase Common Stock. In addition to other restrictions contained in the Plan,
an option granted under this Section 5(a), (i) may not be exercised more than 10
years after the date it is granted, (ii) may not have an option price less than
the Fair Market Value of Common Stock on the date the option is granted, (iii)
must otherwise comply with Code Section 422, and (iv) must be designated as an
"Incentive Stock Option" by the Committee. The maximum aggregate Fair Market
Value of Common Stock (determined at the time of each Grant) with respect to
which any Participant may first exercise Incentive Stock Options under this Plan
and any Incentive Stock Options granted to the Participant for such year under
any plans of NGH, Nabisco or any Subsidiary in any calendar year is $100,000.
Payment of the option price shall be made in cash or in shares of Common Stock,
or a combination thereof, in accordance with the terms of the Plan, the Grant
Agreement, and of any applicable guidelines of the Committee in effect at the
time. No Participant may

                                      -4-
<PAGE>

receive Grants of Incentive Stock Options in any calendar year to purchase more
than one million shares.

       (b) OTHER STOCK OPTIONS - These are options to purchase Common Stock
which are not designated by the Committee as "Incentive Stock Options". At the
time of the Grant the Committee shall determine, and shall have contained in the
Grant Agreement or other Plan rules, the option exercise period, the option
price, and such other conditions or restrictions on the grant or exercise of the
option as the Committee deems appropriate, which may include the requirement
that the grant of options is predicated on the acquisition of Purchase Stock
under Section 5(e) by the Optionee. In addition to other restrictions contained
in the Plan, an option granted under this Section 5(b), (i) may not be exercised
more than 15 years after the date it is granted and (ii) may not have an option
exercise price less than 50% of the Fair Market Value of Common Stock on the
date the option is granted. Payment of the option price shall be made in cash or
in shares of Common Stock, or a combination thereof, in accordance with the
terms of the Plan and of any applicable guidelines of the Committee in effect at
the time. Payment of the option price may also be made by tender of an amount
equal to the full exercise price which has been borrowed from Nabisco or one of
its Subsidiaries if the Participant also authorizes the concurrent sale of the
exercised Common Stock by a broker (through an arrangement established by
Nabisco, or one of its Subsidiaries, for Participants) and repays the borrowing,
all in accordance with any applicable guidelines of the Committee. No
participant may receive Grants of options in any calendar year to purchase more
than one million Shares.

       (c) STOCK APPRECIATION RIGHTS - These are rights that on exercise entitle
the holder to receive the excess of (i) the Fair Market Value of a share of
Common Stock on the date of exercise over (ii) the Base Value multiplied by
(iii) the number of rights exercised in cash, stock or a combination thereof as
determined by the Committee. Stock Appreciation Rights granted under the Plan
may, but need not be, granted in conjunction with an option under Paragraphs
5(a) or 5(b). The Committee, in the Grant Agreement or by other Plan rules, may
impose such conditions or restrictions on the exercise of Stock Appreciation
Rights as it deems appropriate, and may terminate, amend, or suspend such Stock
Appreciation Rights at any time. No Stock Appreciation Right granted under this
Plan may be exercised more than 15 years after the date it

                                      -5-
<PAGE>

is granted. To the extent that any Stock Appreciation Right that shall have
become exercisable, but shall not have been exercised or canceled or, by reason
of any termination of employment, shall have become non-exercisable, it shall be
deemed to have been exercised automatically, without any notice of exercise, on
the last day of which it is exercisable, provided that any conditions or
limitations on its exercise are satisfied (other than (i) notice of exercise and
(ii) exercise or election to exercise during the period prescribed) and the
Stock Appreciation Right shall then have value. Such exercise shall be deemed to
specify that, the holder elects to receive cash and that such exercise of a
Stock Appreciation Right shall be effective as of the time of automatic
exercise. Stock Appreciation Rights will be granted for no consideration. No
Participant may receive Grants of more than one million Stock Appreciation
Rights in any calendar year.

       (d) RESTRICTED STOCK - Restricted Stock is a Grant of Common Stock or
stock units equivalent to Common Stock subject to such conditions and
restrictions as the Committee shall determine. Any rights to dividends or
dividend equivalents accruing due to a grant of Restricted Stock shall also be
determined by the Committee. The number of shares of Restricted Stock and the
restrictions or conditions on such shares shall be as the Committee determines,
in the Grant Agreement or by other Plan rules, and the certificate for the
Restricted Stock shall bear evidence of the restrictions or conditions. No
Participant may receive Grants of more than 100,000 shares of Restricted Stock
in any calendar year.

       (e) PURCHASE STOCK - Purchase Stock are shares of Common Stock offered to
a Participant at such price as determined by the Committee, the acquisition of
which may make him eligible to receive other grants under the Plan, including,
but not limited to, Stock Options; provided, however, that the price of such
Purchase Shares may not be less than 50% of the Fair Market Value of the Common
Stock on the date such shares of Purchase Stock are offered. No Participant may
receive Grants of more than one million shares of Purchase Stock in any calendar
year.

       (f) DIVIDEND EQUIVALENT RIGHTS - These are rights to receive cash
payments from Nabisco at the same time and in the same amount as any cash
dividends paid on an equal number of shares of Common Stock to shareholders of
record during the period such rights are effective.

                                      -6-
<PAGE>

The Committee, in the Grant Agreement or by other Plan rules, may impose such
restrictions and conditions on the Dividend Equivalent Rights, including the
date such rights will terminate, as it deems appropriate, and may terminate,
amend, or suspend such Dividend Equivalent Rights at any time. No Participant
may receive Grants of Dividend Equivalent Rights on the equivalent of more than
one million Shares in any calendar year.

       (g) PERFORMANCE UNITS - These are rights to receive at a specified future
date, payment in cash or stock of an amount equal to all or a portion of the
value of a unit granted by the Committee. At the time of the Grant, in the Grant
Agreement or by other Plan rules, the Committee must determine the base value of
the unit, the performance factors applicable to the determination of the
ultimate payment value of the unit and the period over which Corporation
performance will be measured. The performance factors for any specific Grants
hereunder shall be determined in the discretion of the Committee, and may be
based on any of the following: price of Common Stock or the stock of any
affiliate, shareholder return; return on equity; return on investment; return on
capital; return on invested capital; economic profit; economic value added; net
income; cash net income; free cash flow; earnings per share; cash earnings per
share; operating company contribution or market share. These factors must
include a minimum performance standard for the Corporation below which no
payment will be made and may include a maximum performance level above which no
increased payment will be made. No Participant may receive Grants of Performance
Units in any calendar year with a maximum payment (if maximum performance level
is attained) in excess of $8 million. The term over which Corporation
performance will be measured shall not exceed ten years.

       (h) PERFORMANCE SHARES - These are rights to receive at a specified
future date, payment in cash or Common Stock, as determined by the Committee, of
an amount equal to all or a portion of the Fair Market Value for all days that
the Common Stock is traded during the last forty-five (45) days of the specified
period of performance of a specified number of shares of Common Stock at the end
of a specified period based on Corporation performance during the period. At the
time of the Grant, the Committee, in the Grant Agreement or by Plan rules, will
determine the factors which will govern the portion of the rights so payable and
the period over which Corporation performance will be measured. The performance
factors for any specific Grants

                                      -7-
<PAGE>

hereunder shall be determined in the discretion of the Committee, and may be
based on any of the following: return on equity; net income; cash net income;
free cash flow; earnings per share; cash earnings per share; or operating
company contribution. The factors will be based on Corporation performance and
must include a minimum performance standard for the Corporation below which no
payment will be made and a maximum performance level above which no increased
payment will be made. No Participant may receive Grants of Performance Shares in
any calendar year with a maximum payment (if the maximum performance level is
attained) of more than 300,000 Shares (or its cash equivalent). The term over
which Corporation performance will be measured shall be not less than six
months. Performance Shares will be granted for no consideration.

       (i) OTHER STOCK-BASED GRANTS - The Committee may make other Grants under
the Plan pursuant to which shares of Common Stock (which may, but need not, be
shares of Restricted Stock pursuant to Paragraph 5(d)), are or may in the future
be acquired, or Grants denominated in stock units, including ones valued using
measures other than market value. Other Stock-Based Grants may be granted with
or without consideration; provided, however, that the price of any such Grant
made for consideration that provides for the acquisition of shares of Common
Stock or other equity securities of the Corporation may not be less than 50% of
the Fair Market Value of the Common Stock or such other equity securities on the
date of grant of such Grant. Such Other Stock-Based Grants may be made alone, in
addition to or in tandem with any Grant of any type made under the Plan and must
be consistent with the purposes of the Plan. No Participant may receive Other
Stock-Based Grants of more than one million shares in any calendar year.

6.     LIMITATIONS AND CONDITIONS

       (a) The number of Shares available for Grants under this Plan shall be
28.3 million shares of the authorized Common Stock as of the effective date of
the Plan. The number of Shares subject to Grants under this Plan to any one
Participant during the term of this Plan shall not be more than 10 million
shares. No more than 1% of the authorized Common Stock as of the effective date
of the Plan may be granted as Incentive Stock Options as described in Paragraph
5(a). Shares related to Grants that are forfeited, terminated, canceled, expire
unexercised, settled

                                      -8-
<PAGE>

in cash in lieu of stock or in such manner that all or some of the Shares
covered by a Grant are not issued to a Participant, shall immediately become
available for Grants; provided, however, that the number of Shares available for
Grants shall be limited to the extent necessary to satisfy Section 16 of the
Exchange Act. Subject to the overall limitation on the number of shares of
Common Stock that may be delivered under this Plan, the Committee may use
available shares of Common Stock as the form of payment for compensation, grants
or rights earned or due under any other compensation plans or arrangements of
Nabisco, including the plan of any entity acquired by Nabisco.

       (b) No Grants shall be made under the Plan beyond ten years after the
effective date of the Plan, but the terms of Grants made on or before the
expiration thereof may extend beyond such expiration. At the time a Grant is
made or amended or the terms or conditions of a Grant are changed, the Committee
may provide for limitations or conditions on such Grant.

       (c) Nothing contained herein shall affect the right of the Corporation to
terminate any Participant's employment at any time or for any reason.

       (d) Deferrals of Grant payouts may be provided for, at the sole
discretion of the Committee, in the Grant Agreements.

       (e) Except as otherwise prescribed by the Committee, the amounts of the
Grants for any employee of a Subsidiary, along with interest, dividend, and
other expenses accrued on deferred Grants shall be charged to the Participant's
employer during the period for which the Grant is made. If the Participant is
employed by more than one Subsidiary or by both Nabisco and a Subsidiary during
the period for which the Grant is made, the Participant's Grant and related
expenses will be allocated between the companies employing the Participant in a
manner prescribed by the Committee.

       (f) No benefit under the Plan shall, prior to receipt thereof by the
Participant, be in any manner liable for or subject to the debts, contracts,
liabilities, engagements, or torts of the Participant.

       (g) Except to the extent otherwise provided in any other retirement or
benefit plan, any grant under this Plan shall not be deemed compensation for
purposes of computing benefits or contributions under any retirement plan of
Nabisco or its Subsidiaries and shall not affect any

                                      -9-
<PAGE>

benefits under any other benefit plan of any kind or subsequently in effect
under which the availability or amount of benefits is related to level of
compensation. This Plan is not a "Retirement Plan" or "Welfare Plan" under the
Employee Retirement Income Security Act of 1974, as amended.

       (h) Unless the Committee determines otherwise, no benefit or promise
under the Plan shall be secured by any specific assets of Nabisco or any of its
Subsidiaries, nor shall any assets of Nabisco or any of its Subsidiaries be
designated as attributable or allocated to the satisfaction of Nabisco's
obligations under the Plan.

       (i) In the event of a Participant's death, the right to receive benefits
or exercise awards shall pass to the beneficiary designated by the Participant
for this purpose under the Plan. If the Participant has not designated a
beneficiary under the Plan, the right to receive benefits or exercise awards
shall pass to the Participant's spouse and, if the Participant does not have a
spouse at the date of death, to the Participant's designated beneficiary under
the Company's SELECT Core Life Insurance Plan.

7.     TRANSFERS AND LEAVES OF ABSENCE

       For purposes of the Plan: (a) a transfer of a Participant's employment
without an intervening period of separation from Nabisco to a Subsidiary or vice
versa, or from one Subsidiary to another, shall not be deemed a termination of
employment, and (b) a Participant who is granted in writing a leave of absence
shall be deemed to have remained in the employ of the Corporation during such
leave of absence.

8.     ADJUSTMENTS

       (a) In the event of any change in the outstanding Common Stock by reason
of a stock split, spin-off, stock dividend, stock combination or
reclassification, recapitalization or merger, or similar event, the Committee
may adjust appropriately the number of Shares subject to the Plan and available
for or covered by Grants and Share prices related to outstanding Grants and make
such other revisions to outstanding Grants as it deems are equitably required.

                                      -10-
<PAGE>

       (b) In the event of a Change of Control (as defined in paragraph 8 (c)
hereof), except as otherwise set forth in the terms of a Grant:

           (i)   Stock options granted pursuant to paragraphs 5 (a) or 5 (b)
                 hereof shall become fully vested and exercisable (subject to
                 paragraph 5 (b) (iii)); provided; however, that the Committee
                 may elect to make a cash payment to Participants in lieu of the
                 delivery of shares upon exercise, equal to the product of (x)
                 and (y), where (x) is the excess of the fair market value of
                 Common Stock on the date of exercise over the exercise price,
                 and (y) is the number of Shares subject to the stock options
                 being exercised;

           (ii)  Stock Appreciation Rights granted pursuant to paragraph 5 (c)
                 hereof shall become fully vested and exercisable;

           (iii) Performance Units granted pursuant to paragraph 5 (g) hereof
                 whose performance periods ends after the date of the Change of
                 Control shall become vested as to a percentage of performance
                 units granted equal to the number of months (including partial
                 months) in the performance period before the date of the Change
                 of Control, divided by the total number of months in the
                 performance period. The value of the performance units shall be
                 equal to the greater of the target value of the units or the
                 value derived from the actual performance as of the date of the
                 Change of Control; and

           (iv)  the Committee shall have authority to establish or revise the
                 terms of any other Grant as it, in it's discretion, deems
                 appropriate; provided; however, that the Committee may not make
                 revisions that are adverse to the Participant without the
                 Participant's consent unless such revision is provided for or
                 contemplated in the terms of the Grant.

       (c) As used herein, a "Change of Control" shall occur on the date upon
which one of the following events occurs (except as otherwise provided in
paragraph (iii) below):

           (i)   Any individual, corporation, partnership, group, associate or
                 other entity or "person" as such term is defined in Section
                 14(d) of the Securities Exchange Act of 1934 (the "Exchange
                 Act"), other than the Corporation, NGH or any of their

                                      -11-
<PAGE>

                 Subsidiaries, or any employee benefit plan(s) sponsored by the
                 Corporation, NGH or any of their subsidiaries, is or becomes
                 the "beneficial owner" (as defined in Rule 13D-3 under the
                 Exchange Act), directly or indirectly, of 30% or more of the
                 combined voting power of the Corporation or NGH outstanding
                 securities ordinarily having the right to vote at elections of
                 directors;

           (ii)  Individuals who constitute the Board of Directors of either the
                 Corporation or NGH on January 1, 2000 (each such Board the
                 "Incumbent Board") cease for any reason to constitute at least
                 a majority of the Board of the Corporation or NGH, as the case
                 may be, provided that any person becoming a director subsequent
                 to such date hereof whose election, or nomination for election
                 by the Corporation's or NGH's shareholders, as the case may be,
                 was approved by a vote of at least three-quarters of the
                 directors comprising that Incumbent Board (either by a specific
                 vote or by approval of the proxy statement of the Corporation
                 or NGH, as the case may be, in which such person is named a
                 nominee of the Corporation or NGH, as the case may be, but
                 excluding for this purpose any such individual whose initial
                 assumption of office occurs as a result of either an actual or
                 threatened election contest (as such terms are used in Rule
                 14a-11 of Regulation 14A promulgated under the Exchange Act) or
                 other actual or threatened solicitation of proxies or consents
                 by or on behalf of an individual, corporation, partnership,
                 group, associate or other entity of "person" other than the
                 Corporation's or NGH's Board, as the case may be, shall be, for
                 purposes of this paragraph (ii), considered as though such
                 person were a member of the Incumbent Board.

           (iii) The approval by the shareholders of the Corporation or NGH, as
                 the case may be, of a plan or agreement providing (A) for a
                 merger or consolidation of the Corporation or NGH, as the case
                 may be, other than with a wholly-owned subsidiary or with NGH,
                 the Corporation or any of their subsidiaries, and other than a
                 merger or consolidation that would result in the voting
                 securities of the

                                      -12-
<PAGE>

                 Corporation or NGH, as the case may be, outstanding immediately
                 prior thereto continuing to represent (either by remaining
                 outstanding or by being converted into voting securities of the
                 surviving entity) more than 50% of the combined voting power of
                 the voting securities of the Corporation or NGH, as the case
                 may be, of such surviving entity outstanding immediately after
                 such merger or consolidation or (B) for a sale, exchange or
                 other disposition of all or substantially all of the assets of
                 the Corporation or NGH. If any of the events enumerated in this
                 paragraph (iii) occurs, the Corporation's Board of Directors
                 shall determine the effective date of the Change of Control
                 resulting therefrom.

       For purposes hereof, "Subsidiary" of the Corporation or NGH means any
entity of which securities or other ownership interests having ordinary voting
power to elect a majority of the board of directors or other persons performing
similar functions are at the time directly or indirectly owned by the
Corporation or NGH, as the case may be.

9.     AMENDMENT AND TERMINATION

       The Committee shall have the authority to make such amendments to any
terms and conditions applicable to outstanding Grants as are consistent with
this Plan provided that, except for adjustments under Paragraph 8 hereof, no
such action shall modify such Grant in a manner adverse to the Participant
without the Participant's consent except as such modification is provided for or
contemplated in the terms of the Grant.

       The Board of Directors may amend, suspend or terminate the Plan.

10.    FOREIGN OPTIONS AND RIGHTS

       (a) The Committee may make Grants to employees who are subject to the tax
laws of nations other than the United States, which Grants may have terms and
conditions that differ from the terms thereof as provided elsewhere in the Plan
for the purpose of complying with the foreign tax laws. Grants of Options may
have terms and conditions that differ from Incentive Stock Options and Other
Stock Options for the purposes of complying with the foreign tax laws.

                                      -13-
<PAGE>

       (b) The terms and conditions of Options granted under Paragraph 10(a) may
differ from the terms and conditions which the Plan would require to be imposed
upon Incentive Stock Options and Other Stock Options if the Committee determines
that the Grants are desirable to promote the purposes of the Plan for the
employees identified in Paragraph 10(a); provided that the Committee may not
grant such Options or Stock Appreciation Rights that do not comply with the
limitations of Paragraph 6.

11.    WITHHOLDING TAXES

       The Corporation shall have the right to deduct from any payment or
settlement made under the Plan any federal, state or local income or other taxes
required by law to be withheld with respect to such payment.

12.    EFFECTIVE DATE AND TERMINATION DATES

       The Plan shall be effective on and as of April 17, 1997, subject to
approval by the stockholders of Nabisco and shall terminate ten years later,
subject to earlier termination by the Board of Directors pursuant to Paragraph
9. The terms of Grants made on or before the expiration of the Plan shall extend
beyond such expiration. Grants made under the Plan prior to the Effective Date
shall be governed by the terms of the Plan as in effect on the date such Grant
was made.

                                      -14-

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