Document:

Amended and Restated Supplemental Retirement Benefit Agreement

 Exhibit 10(iii).15 
 SAFEWAY INC. 
 AMENDED AND RESTATED 
 AGREEMENT WITH STEVEN A. BURD 
 FOR 
 SUPPLEMENTAL RETIREMENT BENEFIT 
 Preamble 
 This Agreement for a supplemental retirement benefit (this “Agreement”), effective as of March 10,
2005, has been amended and restated retroactive to its effective date and is entered into by and between Safeway Inc., a Delaware corporation (the “Company”) and Steven A. Burd (the “Executive”). This Agreement is intended to be
an unfunded deferred compensation arrangement for a select group of management or highly compensated employees within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”). This Agreement is intended to comply with the rules under Section 409A of the Internal Revenue Code of 1986 (the “Code”). 
 Capitalized terms, unless defined in this Agreement, shall have the meanings assigned to them in the Employee Retirement Plan of Safeway Inc. and its Domestic Subsidiaries (the “Retirement Plan”).

 Recitals 
 WHEREAS, the Executive renders services to the Company as its President and Chief Executive Officer; and, 
 WHEREAS,
the Company, in order to retain the services of the Executive both on its own behalf and on behalf of its affiliated companies, desires to provide a supplemental retirement benefit to the Executive on the terms and conditions set forth in this
Agreement; 
 NOW, THEREFORE, in consideration of the foregoing premises, the Company and the Executive agree as follows: 

1. Supplemental Retirement Benefit. The Company agrees to pay the Executive upon his Separation from Service (as defined below) from the Company and its
affiliates an annual supplemental retirement benefit (the “Supplemental Retirement Benefit”) equal to 50% of the Executive’s Final Average Compensation, subject to incremental increases of 1% of Final Average Compensation for each
full Year of Service after the Executive attains age 55, to a maximum of 60% of Final Average Compensation. For purposes of this Agreement, “Final Average Compensation” shall mean the average of the Executive’s base salary and bonus
for the 5 consecutive years during his final 10 Years of Service during which the total of his base salary and bonus was the highest. 
 2.
Offset. The amount of the Supplemental Retirement Benefit as determined under Section 1 shall be offset by (i) the Executive’s benefits under the Retirement Plan, (ii) the amount calculated in Exhibit A, which
represents his benefit under Retirement Restoration Plan of Safeway Inc. (which was frozen as of December 31, 2004) and (iii) any benefit payable under the 

  

 1 

 
Retirement Restoration Plan II of Safeway Inc. (“Restoration Plan II”). The amount calculated under Exhibit A is not subject to change and cannot
be calculated in any manner other than the manner set forth therein. All offsets described in this Section 2 shall be calculated as the single life annuity amounts under the terms of each respective plan which would be payable at the same time
as the benefit under this Agreement. 
 3. Vesting. The Executive shall at all times be 100% vested in his Supplemental Retirement Benefit;
provided, however, that the Supplemental Retirement Benefit shall be forfeited immediately upon the Executive’s discharge from employment with the Company for “Cause” (as defined below). In that event, the Executive will have no right
to receive any compensation in respect of his forfeited Supplemental Retirement Benefit under this Agreement. For purposes of this Agreement, “Cause” shall mean: (i) the Executive’s act of fraud, dishonesty, misappropriation,
illegal conduct, or gross misconduct that has a material impact on the assets or reputation of the Company; or (ii) the Executive’s conviction of or plea of nolo contendere to a felony or misdemeanor involving moral turpitude and
materially impacting the Company. 
 4. Time and Form of Distribution. The Supplemental Retirement Benefit shall be paid in the same form and
at the same time as the benefit payable to the Executive under Retirement Restoration Plan II. 
 5. Unfunded. 
 (a) The Company intends to set aside such amounts as are necessary to provide the Executive with his Supplemental Retirement Benefit. While the Company
shall set aside amounts which, based on certain assumptions, are intended, together with investment earnings thereon, to be sufficient to provide the Supplemental Retirement Benefit to the Executive, the Company does not guarantee that such amounts
shall be set aside each year. 
 (b) All amounts set aside by the Company to meet its obligations under this Agreement shall remain part of
the general assets of the Company and shall remain subject to the claims of the general creditors of the Company until paid to the Executive (or his beneficiary, if applicable). 
 (c) The right of the Executive or his beneficiary to receive a distribution hereunder shall be an unsecured claim against the general assets of the
Company, and neither the Executive nor his beneficiary shall have any rights in or against the Supplemental Retirement Benefit or any other specific assets of the Executive. All amounts set aside to fund the Supplemental Retirement Benefit shall
constitute general assets of the Company and may be disposed of by the Company at such time and for such purposes as it may deem appropriate. Nothing contained in this Agreement shall be deemed to create a trust of any kind for the benefit of the
Executive or his beneficiaries or to create any fiduciary relationship between the Company and the Executive or his beneficiaries. 
 6. No Employment
Rights. This Agreement does not confer upon the Executive the right to be retained in the Company’s employ, and the Executive shall remain subject to discharge, discipline and termination to the same extent as if this Agreement did not
exist. This Agreement creates no rights or obligations other than those expressed herein. 
  

 2 

 7. Amendment and Termination. 
 The Company may at any time amend or terminate this Agreement, in whole or in part, without the consent of the Executive or his beneficiary. No
amendment, however, shall reduce the Executive’s Supplemental Retirement Benefit under the terms of this Agreement as in effect immediately prior to the amendment or termination. 
 8. Miscellaneous Provisions. 
 (a) No Assignment or Transfer. No right or interest of
any kind in the Supplemental Retirement Benefit shall be transferable or assignable by the Executive or his beneficiary, or be subject to alienation, encumbrance, garnishment, attachment, execution or levy of any kind, voluntary or involuntary. This
prohibition shall not apply to the creation, assignment or recognition of a right to any interest payable hereunder with respect to the Executive pursuant to a domestic relations order that satisfies the requirements of a qualified domestic
relations order (“QDRO”) (as that term is defined in Section 414(p) of the Code) as if this Agreement were qualified under Section 401(a) of the Code. Payment pursuant to such domestic relations order may be made as soon as
administratively feasible following determination by the Company that said order satisfies the requirements of a QDRO. 
 (b) Entire
Agreement. This Agreement constitutes the entire agreement between the parties hereto in respect of the Supplemental Retirement Benefit. This Agreement supersedes and replaces in its entirety all prior oral and written agreements,
understandings, commitments, and practices between the parties with respect to the Supplemental Retirement Benefit. 
 (c)
Administration. The Company shall have full power and authority (subject to the provisions of this Agreement) to make determinations under, and issue interpretations of, this Agreement as it may deem necessary or advisable, in its sole
discretion. Decisions of the Company shall be final and binding on the Executive and the Executive’s beneficiaries. 
 (d)
Claims. 
 (i) Notice of Denial. If the Executive submits a claim for payment of benefits under this Agreement
and the Company determines that the Executive is not eligible for payment of benefits or, if applicable, is not eligible for payment of benefits in the amount requested, then the Company shall, within a reasonable period of time, but no later than
90 days after receipt of the written claim, notify the Executive of the denial of the claim. Such notice of denial: (1) shall be in writing; (2) shall be written in a manner calculated to be understood by the Executive; and (3) shall
contain: (A) the specific reason or reasons for denial of the claim; (B) a specific reference to the pertinent provisions of this Agreement or administrative rules and regulations upon which the denial is based; (C) a description of
any additional material or information necessary for the Executive to perfect the claim; and (D) an explanation of this Agreement’s appeal procedures and the time limits applicable to such procedures, including a statement of the
Executive’s right to bring a civil action under Section 502(a) of ERISA following an adverse benefit determination on review. 
  

 3 

 (ii) Reconsideration Procedures. Within 60 days of the receipt by the Executive of
the written notice of denial of the claim, the Executive may file a written request with the Company that it conduct a full and fair review of the denial of the Executive’s claim for benefits. The Executive’s written request must include a
statement of the grounds on which the Executive appeals the original claim denial. The Company shall deliver to the Executive a written decision on the claim promptly, but not later than 60 days after the receipt of the Executive’s request for
review, except that if there are special circumstances that require an extension of time for processing, the 60-day period shall be extended to 120 days, in which case written notice of the extension shall be furnished to the Executive prior to the
end of the 60-day period. 
 (iii) Exhaustion of Remedies. No action at law or equity shall be brought to recover
benefits under this Agreement unless the action is commenced within 2 years after the occurrence of the loss for which a claim is made. Except as required by applicable law, no action at law or equity shall be brought to recover a benefit under this
Agreement unless and until the claimant has: (1) submitted a claim for benefits, (2) been notified by the Company that the benefits (or a portion thereof) are denied, (3) filed a written request for a review of denial with the
Company, and (4) been notified in writing that the denial has been affirmed. 
 (e) Separation from Service. For purposes of this
Agreement, “Separation from Service” shall mean termination of employment with the Company. Whether a Separation from Service has occurred is based on whether the facts and circumstances indicate that the Executive and the Company
reasonably anticipate that no further services would be performed after a certain date. A Separation from Service will not be deemed to have occurred if the bona fide level of services performed for the Company (whether as an employee or an
independent contractor) is at an annual rate that is 50% or more of the bona fide services performed for the Company, on average, during the immediately preceding 36-month period (or the full period of service with the Company, if less than 36
months); provided, however, that a Separation from Service will be deemed to have occurred if the bona fide level of services performed for the Company (whether as an employee or an independent contractor) is reduced to an annual rate that is less
than 20% of the bona fide services performed for the Company, on average, during the immediately preceding 36-month period (or the full period of service with the Company, if less than 36 months). 
 In addition to the foregoing, a Separation from Service will not be deemed to have occurred while the Executive is on military leave, sick leave, or
other bona fide leave of absence if the period of such leave does not exceed 6 months, or if longer, so long as the Executive’s right to reemployment with the Company is provided either by statute or contract. If the period of leave exceeds 6
months and the Executive’s right to reemployment is not provided either by statute or contract, then the Executive is deemed to have Separated from Service on the first day immediately following such 6-month period. 
 For the purposes of this subsection (e) only, the term Company shall means the Company and its entire controlled group within the meaning of Code
Section 414(b) and 414(c), using a 50% standard instead of the 80% standard outlined in Treasury regulations interpreting Code Section 409A. 
 (f) Severability. The provisions of this Agreement shall be regarded as severable, and if any provisions or any part of this Agreement are declared invalid or unenforceable by a court of competent jurisdiction,
the validity and enforceability of the remainder of such provisions or parts and the applicability of this Section shall not be affected thereby. 
  

 4 

 (g) Governing Law. This Agreement and the rights and obligations hereunder shall be governed by
and construed in accordance with the laws of the State of California without regard to its principles of conflict of laws to the extent not preempted by ERISA. This Agreement is intended to be compliant with Section 409A of the Code, and any
noncompliant provision is void or deemed amended to comply with Section 409A of the Code. The Company does not guarantee or warrant the tax consequences of this Agreement, and the Executive shall in all cases be liable for any taxes due with
respect to this Agreement. 
 (h) Notices. For purposes of this Agreement, notices and all other communications provided for in this
Agreement shall be in writing and shall be deemed to have been duly given when delivered by messenger or in person, or when mailed by United States registered mail, return receipt requested, postage prepaid, as follows: 
  

			
	If to the Company:	 	Safeway Inc.
		 	5918 Stoneridge Mall Road
		 	Pleasanton, CA 94588-3229
		 	Attention: Corporate Secretary
		
	If to the Executive:	 	Steven A. Burd
		 	c/o Safeway Inc.
		 	5918 Stoneridge Mall Road
		 	Pleasanton, CA 94588-3229

 or such other address as either party may have furnished to the other in writing in accordance herewith, except
that notices of change of address shall be effective only upon receipt. 
 (i) Binding Nature. Nothing in this Agreement shall prevent
the consolidation of the Company with, or its merger into, any other corporation, or the sale by the Company of all or substantially all of its properties or assets; and this Agreement shall inure to the benefit of, be binding upon and be
enforceable by, any successor surviving or resulting corporation, or other entity to which such assets shall be transferred. Unless otherwise agreed to by the Executive, the Company shall require any successor or assign (whether direct or indirect,
by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, by agreement in form and substance satisfactory to the Executive (such agreement not to be unreasonably withheld or delayed),
to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession or assignment had taken place. This Agreement shall not otherwise be assigned by the
Company. As used in this Agreement, “Company” shall mean the Company as previously defined and any successor or assign to its business and/or assets as aforesaid which executes and delivers the agreement provided for in this paragraph or
which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law. This Agreement shall not be terminated by the voluntary or involuntary dissolution of the Company. 
  

 5 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date set forth above.

  

			
	Safeway Inc.
		
	By:	 	/s/ Robert A. Gordon
		 	Robert A. Gordon, Senior Vice President
	
	Date: 12/15/08

  

			
	Executive
		
	By:	 	/s/ Steven A. Burd
		 	Steven A. Burd
	
	Date: 12/15/08

  

 6 

 EXHIBIT A 
 OFFSET FOR BENEFIT PAYABLE UNDER 
 THE RETIREMENT RESTORATION PLAN OF SAFEWAY INC. 

Part I – Introduction 
 This Appendix A describes the method
for determining the amount of the offset with respect to the Retirement Restoration Plan of Safeway Inc., which was frozen as of December 31, 2004. This Part I narrative is only a summary of the formula set forth in Part II below. However, the
formula in Part II and the terms of the Plan control, and not this Part I narrative. 
 The Retirement Restoration Plan offset is equal to the amount of the
benefit that would have been earned and accrued under the Retirement Plan as of 12/31/04 in the absence of the limitations of Code Sections 401(a)(17) and 415 and in the absence of any limitation on the recognition of compensation deferred under the
Safeway Executive Deferred Compensation Plan, less the benefit actually earned and accrued under the Retirement Plan as of 12/31/04. In each case (i.e., in the determination of the hypothetical unlimited and actual limited benefits) the greater of
the cash balance benefit and the grandfather benefit is selected. 
 The method described above is represented by the formulas which follow in Part II of
this Appendix A. 
  

 7 

 Part II – Offset Formula 
 The offset shall be determined as the greater of A) and B) minus the greater of C) and D), subject to the definitions in E): 
  

	A)	Unlimited cash balance accrued through 12/31/2004 

 RRPCB12312004 x (1 + CBIR2005)M2005 x (1 + CBIR2006) M2006 x (1 + CBIR2007) M2007 x (1 + CBIR2008) M2008 x 
 (1 + CBIR
2009) M2009 x (1 + CBIR2010) M2010 x (1 + CBIR2011) M2011 x (1 + CBIR2012
) M2012 x (1 + CBIR2013) M2013 x 
 (1 + CBIR2014) M2014 x (1 + CBIR2015) M2015 x (1 + CBIR2016) M2016 x (1 + CBIR2017) M2017 x (1 + CBIR2018)
M2018 x 
 (1 + CBIR2019) M2019 x (1 + CBIR2020) M2020 x (1 + CBIR2021
) M2021 x (1 + CBIR2022) M2022 x (1 + CBIR2023) M2023 x 
 (1 + CBIR2024) M2024 x (1 + CBIR2025) M2025 x (1 + CBIR2026) M2026 x (1 + CBIR2027) M2027 x (1 + CBIR2028)
M2028 x 
 (1 + CBIR2029) M2029 x (1 + CBIR2030) M2030 x (1 + CBIR2031
) M2031 x (1 + CBIR2032) M2032 x (1 + CBIR2033) M2033 x 
 (1 + CBIR2034) M2034 x (1 + CBIR2035) M2035 / SLAF 
  

	B)	Unlimited transition benefit accrued through 12/31/2004 

 RRPAB12312004 x (1 + ABIR2005)M2005 x (1 + ABIR2006) M2006 x (1 + ABIR2007) M2007 x (1 + ABIR2008) M2008 x 
 (1 + ABIR
2009) M2009 x (1 + ABIR2010) M2010 x (1 + ABIR2011) M2011 x (1 + ABIR2012
) M2012 x (1 + ABIR2013) M2013 x 
 (1 + ABIR2014) M2014 x (1 + ABIR2015) M2015 x (1 + ABIR2016) M2016 x (1 + ABIR2017) M2017 x (1 + ABIR2018)
M2018 x 
 (1 + ABIR2019) M2019 x (1 + ABIR2020) M2020 x (1 + ABIR2021
) M2021 x (1 + ABIR2022) M2022 x (1 + ABIR2023) M2023 x 
 (1 + ABIR2024) M2024 x (1 + ABIR2025) M2025 x (1 + ABIR2026) M2026 x (1 + ABIR2027) M2027 x (1 + ABIR2028)
M2028 x 
 (1 + ABIR2029) M2029 x (1 + ABIR2030) M2030 x (1 + ABIR2031
) M2031 x (1 + ABIR2032) M2032 x (1 + ABIR2033) M2033 x 
 (1 + ABIR2034) M2034 x (1 + ABIR2035) M2035 x 0.12 + RRPBB12312004 x BBERF 
  

	C)	Qualified cash balance accrued through 12/31/2004 

 QUALCB12312004 x (1 + CBIR2005)M2005 x (1 + CBIR2006) M2006 x (1 + CBIR2007) M2007 x (1 + CBIR2008) M2008 x 
 (1 + CBIR
2009) M2009 x (1 + CBIR2010) M2010 x (1 + CBIR2011) M2011 x (1 + CBIR2012
) M2012 x (1 + CBIR2013) M2013 x 
 (1 + CBIR2014) M2014 x (1 + CBIR2015) M2015 x (1 + CBIR2016) M2016 x (1 + CBIR2017) M2017 x (1 + CBIR2018)
M2018 x 
 (1 + CBIR2019) M2019 x (1 + CBIR2020) M2020 x (1 + CBIR2021
) M2021 x (1 + CBIR2022) M2022 x (1 + CBIR2023) M2023 x 
 (1 + CBIR2024) M2024 x (1 + CBIR2025) M2025 x (1 + CBIR2026) M2026 x (1 + CBIR2027) M2027 x (1 + CBIR2028)
M2028 x 
 (1 + CBIR2029) M2029 x (1 + CBIR2030) M2030 x (1 + CBIR2031
) M2031 x (1 + CBIR2032) M2032 x (1 + CBIR2033) M2033 x 
 (1 + CBIR2034) M2034 x (1 + CBIR2035) M2035 / SLAF 
  

	D)	Qualified transition benefit accrued through 12/31/2004 

 QUALAB12312004 x (1 + ABIR2005)M2005 x (1 + ABIR2006) M2006 x (1 + ABIR2007) M2007 x (1 + ABIR2008) M2008 x 
 (1 + ABIR
2009) M2009 x (1 + ABIR2010) M2010 x (1 + ABIR2011) M2011 x (1 + ABIR2012
) M2012 x (1 + ABIR2013) M2013 x 
 (1 + ABIR2014) M2014 x (1 + ABIR2015) M2015 x (1 + ABIR2016) M2016 x (1 + ABIR2017) M2017 x (1 + ABIR2018)
M2018 x 
 (1 + ABIR2019) M2019 x (1 + ABIR2020) M2020 x (1 + ABIR2021
) M2021 x (1 + ABIR2022) M2022 x (1 + ABIR2023) M2023 x 
  

 8 

 (1 + ABIR2024) M2024 x (1 + ABIR2025
) M2025 x (1 + ABIR2026) M2026 x (1 + ABIR2027) M2027 x (1 + ABIR2028) M2028 x 
 (1 + ABIR2029) M2029 x (1 + ABIR2030) M2030 x (1 + ABIR
2031) M2031 x (1 + ABIR2032) M2032 x (1 + ABIR2033) M2033 x 
 (1 + ABIR2034) M2034 x (1 + ABIR2035) M2035 x 0.12 + QUALBB12312004 x BBERF 
  

	E)	Definitions 

  

	 	•	 	 RRPCB12312004 = $2,281,008.62 

  

	 	•	 	 QUALCB12312004 = $389,092.19 

  

	 	•	 	 RRPAB12312004 = $742,976.68 

  

	 	•	 	 QUALAB12312004 = $200,739.58 

  

	 	 •
	 	 CBIR2005 = 0.3986%

  

	 	 •
	 	 CBIR2006 = 0.3859%

  

	 	 •
	 	 CBIR2007 = 0.3827%

  

	 	 •
	 	 CBIR2008 = 0.3691%

  

	 	 •
	 	 CBIR2009 through
CBIR2035 = the interest rate, which, when compounded monthly for 12 months equals the annual rate of return on 30-Year Treasury Securities as
specified by the Commissioner of the Internal Revenue Service in revenue rulings, notices or other guidance published in the Internal Revenue Bulletin in effect during the November of the prior calendar year (e.g., November 2008 for CBIR2009) 

  

	 	 •
	 	 ABIR2005 = (1.0177)
(1/12) - 1 

  

	 	 •
	 	 ABIR2006 = (1.0348)
(1/12) - 1 

  

	 	 •
	 	 ABIR2007 = (1.0488)
(1/12) - 1 

  

	 	 •
	 	 ABIR2008 = (1.0466)
(1/12) - 1 

  

	 	 •
	 	 ABIR2009 through
ABIR2010 = the interest rate, which, when compounded monthly for 12 months equals the average of the twelve monthly averages of One-Year Treasury
Constant Maturities as published in the Federal Reserve Statistical Release H.15(519) of the Board of Governors of the Federal Reserve System from December of the second prior calendar year to November of the first prior calendar year (e.g.,
December 2007 through November 2008 for ABIR2009) 

  

	 	•	 	 M2005 = 12 

  

	 	•	 	 M2006 = 12 

  

	 	•	 	 M2007 = 12 

  

	 	•	 	 M2008 = 12 

  

	 	•	 	 M2009 through M2035 = the number of full calendar months during each calendar year which precede the annuity starting date under this Agreement

  

	 	•	 	 SLAF = the single lump sum actuarial present value of $1/year, paid in monthly installments on the first day of each month, under a mortality assumption using an
interest rate equal to the CBIR for the calendar year in which the annuity starting date occurs and a mortality basis which is the mortality table specified under Section 417(e) of the Internal Revenue Code and such regulations or other
published guidance as may be promulgated thereunder by the Secretary of the Treasury 

  

	 	•	 	 RRPBB12312004 = $25,957.65 

  

	 	•	 	 QUALBB12312004 = $2,927.01 

  

	 	•	 	 BBERF = the applicable factor from the following table: 

  

 9 

			
	 Age in completed years plus
completed months
 at annuity starting date
	  	 BBERF

	 55
	  	0.7500
	 55 1/12
	  	0.7525
	 55 2/12
	  	0.7550
	 55 3/12
	  	0.7575
	 55 4/12
	  	0.7600
	 55 5/12
	  	0.7625
	 55 6/12
	  	0.7650
	 55 7/12
	  	0.7675
	 55 8/12
	  	0.7700
	 55 9/12
	  	0.7725
	 55 10/12
	  	0.7750
	 55 11/12
	  	0.7775
	 56
	  	0.7800
	 56 1/12
	  	0.7825
	 56 2/12
	  	0.7850
	 56 3/12
	  	0.7875
	 56 4/12
	  	0.7900
	 56 5/12
	  	0.7925
	 56 6/12
	  	0.7950
	 56 7/12
	  	0.7975
	 56 8/12
	  	0.8000
	 56 9/12
	  	0.8025
	 56 10/12
	  	0.8050
	 56 11/12
	  	0.8075
	 57
	  	0.8100
	 57 1/12
	  	0.8125
	 57 2/12
	  	0.8150
	 57 3/12
	  	0.8175
	 57 4/12
	  	0.8200
	 57 5/12
	  	0.8225
	 57 6/12
	  	0.8250
	 57 7/12
	  	0.8275
	 57 8/12
	  	0.8300
	 57 9/12
	  	0.8325
	 57 10/12
	  	0.8350
	 57 11/12
	  	0.8375
	 58
	  	0.8400
	 58 1/12
	  	0.8425
	 58 2/12
	  	0.8450
	 58 3/12
	  	0.8475
	 58 4/12
	  	0.8500
	 58 5/12
	  	0.8525
	 58 6/12
	  	0.8550
	 58 7/12
	  	0.8575

  

 10 

			
	 Age in completed years plus
completed months
 at annuity starting date
	  	 BBERF

	 58 8/12
	  	0.8600
	 58 9/12
	  	0.8625
	 58 10/12
	  	0.8650
	 58 11/12
	  	0.8675
	 59
	  	0.8700
	 59 1/12
	  	0.8725
	 59 2/12
	  	0.8750
	 59 3/12
	  	0.8775
	 59 4/12
	  	0.8800
	 59 5/12
	  	0.8825
	 59 6/12
	  	0.8850
	 59 7/12
	  	0.8875
	 59 8/12
	  	0.8900
	 59 9/12
	  	0.8925
	 59 10/12
	  	0.8950
	 59 11/12
	  	0.8975
	 60
	  	0.9000
	 60 1/12
	  	0.9042
	 60 2/12
	  	0.9083
	 60 3/12
	  	0.9125
	 60 4/12
	  	0.9167
	 60 5/12
	  	0.9208
	 60 6/12
	  	0.9250
	 60 7/12
	  	0.9292
	 60 8/12
	  	0.9333
	 60 9/12
	  	0.9375
	 60 10/12
	  	0.9417
	 60 11/12
	  	0.9458
	 61
	  	0.9500
	 61 1/12
	  	0.9542
	 61 2/12
	  	0.9583
	 61 3/12
	  	0.9625
	 61 4/12
	  	0.9667
	 61 5/12
	  	0.9708
	 61 6/12
	  	0.9750
	 61 7/12
	  	0.9792
	 61 8/12
	  	0.9833
	 61 9/12
	  	0.9875
	 61 10/12
	  	0.9917
	 61 11/12
	  	0.9958
	 62 and above
	  	1.0000

  

 11Deferred Compensation Plan II

 Exhibit 10(iii).33 
 DEFERRED COMPENSATION PLAN FOR SAFEWAY 
 NON-EMPLOYEE DIRECTORS II 
 (Amended and Restated Effective January 1, 2009) 
 ARTICLE I 
 1.1 Introduction. 
  

	 	(a)	The name of this plan is the “Deferred Compensation Plan for Safeway Non-Employee Directors II” (the “Plan”). Its purpose is to provide non-employee Directors of
the Company with increased flexibility in timing the receipt of board service fees and to assist the Company in attracting and retaining qualified individuals to serve as Directors. The Plan is effective as of January 1, 2005, and amended and
restated as of January 1, 2009. Between January 1, 2005 and December 31, 2008, the Plan operated in good faith compliance with the guidance issued under Internal Revenue Code Section 409A. 

  

	 	(b)	The Plan is the successor plan to the Deferred Compensation Plan for Safeway Non-Employee Directors (the “Prior Plan”). Effective December 31, 2004, the Prior Plan
was frozen and no new deferrals will be made under it; provided, however, that any deferrals made under the Prior Plan before January 1, 2005 will continue to be governed by the terms and conditions of the Prior Plan as in effect on
December 31, 2004 or on the date of any later amendment, provided that such amendment is not a material modification of the Prior Plan under Section 409A of the Code and regulations promulgated thereunder. 

  

	 	(c)	Any deferrals made under the Prior Plan after December 31, 2004 are deemed to have been made under the Plan and all such deferrals are governed by the terms and conditions of
the Plan as it may be amended from time to time. 

  

	 	(d)	The Plan is intended to comply with the requirements of Section 409A of the Code. 

 1.2 Definitions. Whenever used in this Plan, the following terms shall have the meaning set forth below: 
  

	 	(a)	“Annual Fee” means the base annual fee payable to a Director for the Director’s service as a member of the Board, as determined by the Board from time to time,
exclusive of any other fees, including, but not limited to, annual fees for committee membership. 

	 	(b)	“Automatic Deferral” means the automatic deferral as described in Section 3.1 below. 

  

	 	(c)	“Board” means the Board of Directors of the Company. 

  

	 	(d)	“Closing Price” means the closing price of the Company’s Common Stock as reported in The Wall Street Journal. 

  

	 	(e)	“Code” means the Internal Revenue Code of 1986, as amended. 

  

	 	(f)	“Common Stock” means the Common Stock, par value $.01 per share, of Safeway Inc. 

  

	 	(g)	“Company” means Safeway Inc. 

  

	 	(h)	“Compensation” means all remuneration paid to a Director for services as a Director other than reimbursement for expenses and shall include, but not be limited to, Annual
Fees and fees for committee membership. 

  

	 	(i)	“Director” means any individual serving on the Board who is not an employee of the Company or any of its direct or indirect subsidiaries. 

  

	 	(j)	“Elective Deferral” means a Participant’s elective deferral as described in Section 3.2 below. 

  

	 	(k)	“Participant” means a Director who receives Compensation from the Company in any Plan Year. 

  

	 	(l)	“Plan Administrator” means a committee consisting of one or more senior executives of the Company designated by the Chief Executive Officer of the Company.

  

	 	(m)	“Plan” means the Deferred Compensation Plan for Safeway Non-Employee Directors II, effective as of January 1, 2005, and as amended thereafter.

  

	 	(n)	“Plan Year” means the calendar year. 

  

	 	(o)	“Prior Plan” means Deferred Compensation Plan for Safeway Non-Employee Directors. 

  

	 	(p)	“Separation from Service” or “Separates from Service” means termination of a Director’s service as a non-employee member of the Board consistent with Code
Section 409A and the regulations promulgated thereunder. 

 ARTICLE II 
 2.1 Participation in the Plan. Any individual who is a Director as defined in Section 1.2(h) shall participate in the Plan. 
  

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 ARTICLE III 
 3.1 Automatic Deferrals. 
  

	 	(a)	Prior to the fourth calendar quarter of the 2007 Plan Year, payment of 50% of a Director’s Compensation for each Plan Year shall automatically be deferred under the Plan.

  

	 	(b)	Beginning with the fourth calendar quarter of the 2007 Plan Year and for each calendar quarter of a Plan Year thereafter, $5,000 of a Director’s Compensation, and 50% of the
balance of the Director’s Compensation for such calendar quarter shall automatically be deferred under the Plan; provided, however, that effective January 1, 2009, any increase in a Director’s then current Annual Fee, shall be
automatically deferred under the Plan, quarterly, in substantially equal amounts. Such increase shall become effective in the first calendar quarter of the Plan Year following the Plan Year in which the Board approved the increase in the
Director’s Annual Fee. 

 3.2 Election to Defer. Each Director may elect annually to have payment of all or any
portion of his or her Compensation, in excess of the amount subject to the Automatic Deferral, for that Plan Year deferred. No election to defer Compensation under this Plan may be made after December 31 of the year preceding the Plan Year
during which Compensation is earned. An election to defer any Compensation shall be in writing and shall be delivered to the Plan Administrator. An election to defer shall be irrevocable after the beginning of the Plan Year for which the election is
applicable and shall be effective for the Plan Year or Plan Years immediately following the date on which it was filed as set forth in the written election to defer. In the absence of a written election to defer filed by a Director with the Plan
Administrator, his or her Compensation remaining after the Automatic Deferral will be paid directly to the Director. Notwithstanding the foregoing, a Director who is first appointed or elected to the Board in a Plan Year may elect to defer under the
Plan all or a portion of his or her Compensation, in excess of the amount subject to the Automatic Deferral, with respect to such Compensation earned on and after the first day of the month next following the date such Director completes and returns
the written election to defer to the Company, provided that such election is made within 30 days after the date the Director is first elected or appointed to the Board; such election, if made, shall be irrevocable on the 31st day after such election
or appointment or at such earlier date as provided in the form. 
 3.3 Special Distribution Election. 
  

	 	(a)	At the time the Participant elects to defer Compensation in accordance with Section 3.2, the Participant may elect that Compensation deferred pursuant to an Elective Deferral
will be paid in January of a specified year in the future that is at least twelve months from the last day of the Plan Year in which the deferred Compensation is earned; provided, however, that if the Participant Separates from Service prior to such
specified year, the Participant’s account will be paid within 90 days following the Participant’s Separation from Service. 

  

 3 

	 	(b)	Compensation deferred pursuant to an Automatic Deferral is payable only upon the Participant’s Separation from Service. 

  

	 	(c)	A Participant who makes a special distribution election pursuant to Section 3.3(a) above may elect to amend such an election to further defer the payment, provided that such
election is made in writing and delivered to the Plan Administrator at least twelve months in advance of the originally scheduled special distribution date and the new distribution date elected by the Participant is at least five years from the
originally scheduled special distribution date. 

 3.4 Transition Distribution Election. Notwithstanding any other
provision of the Plan to the contrary, a Participant may elect an in-service account distribution or change the time of an in-service account distribution as elected in accordance with Section 3.3 above, provided that the election is made at
least twelve months prior to the originally scheduled distribution date and the election is made not later than December 31, 2006. An election made pursuant to this Section 3.4 shall be treated as an initial special distribution election
and shall be subject to any administrative rules imposed by the Plan Administrator including rules intended to comply with Section 409A of the Code and Notice 2005-1, A-19. No election under this Section 3.4 shall (i) change the
payment date of any distribution otherwise scheduled to be paid in 2006 or cause a payment to be paid in 2006, or (ii) be permitted after December 31, 2006. 
 3.5 Mode of Deferral. Payment of a Participant’s Compensation deferred pursuant to an Automatic Deferral shall be deferred by means of a stock credit. Payment of a Participant’s Compensation deferred
pursuant to an Elective Deferral may be deferred by means of a cash credit, a stock credit or a combination of the two as the Participant shall elect in writing at the same time as the election provided for in Section 3.2. If a Participant
fails to make an election as to the mode of deferral of his or her Elective Deferral, he or she shall be deemed to have elected deferral by means of a cash credit. Cash credits and stock credits shall be recorded in accounts established in
Participants’ names on the books of the Company. 
  

	 	(a)	Cash Credits. If the Elective Deferral is deferred wholly or partly by means of a cash credit, the Participant’s cash credit account shall be credited, as of the last
day of the calendar quarter, with the dollar amount of Compensation deferred during the quarter by means of a cash credit. As of the last day of each calendar quarter, the Participant’s cash credit account shall also be credited with an
interest equivalent in an amount determined by applying to the balance in the account as of the first day of the quarter (less any distributions during the quarter) an interest rate for such quarter which, when annualized, shall be the prime rate of
Bankers Trust Company or such other equivalent financial institution, as of the first business day of the quarter. Interest shall be calculated on the actual number of days in the quarter based upon a 360-day year. 

  

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	 	(b)	Stock Credits. The Participant’s stock credit account shall be credited, as of the last day of the calendar quarter with a Common Stock equivalent equal to the number of
shares of Common Stock (including fractions of a share) that could have been purchased at the average of the Closing Price of Common Stock on each business day during the last month of the calendar quarter with the amount of the Compensation
deferred during the quarter by means of a stock credit. As of the date any dividend is paid to holders of Common Stock, the Participant’s stock credit account shall also be credited with additional Common Stock equivalents equal to the number
of shares of Common Stock (including fractions of a share) that could have been purchased at the Closing Price of Common Stock on such date with the dividend paid on the number of shares of Common Stock to which the Participant’s stock credit
account is then equivalent. In case of dividends paid in property, the dividend shall be deemed to be the fair market value of the property at the time of distribution of the dividend, as determined by the Plan Administrator.

 3.6 Distribution of Credits. 
  

	 	(a)	If a Participant has elected payment in a specified year under Section 3.3, distribution of his or her accounts will only be made in a single lump sum payment. Otherwise,
unless a Participant has elected to receive installment payments as provided below or if the Participant fails to make any election with respect to distribution of his or her accounts, payment of a Participant’s accounts shall be made in a
single lump sum within 90 days following the Participant’s Separation from Service. 

  

	 	(b)	At the election of the Participant made in writing and delivered to the Plan Administrator at the same time the Participant elects to defer Compensation in accordance with
Section 3.2, distribution of his or her accounts, commencing within 90 days following the Participant’s Separation from Service, shall be made in the number of annual installments elected by the Director not exceeding ten. Any such
election is irrevocable; provided, however, that with respect to amount deferred in 2005 and 2006, a Participant may make a transition election in accordance with Section 3.4. 

  

	 	(c)	Distribution of a Participant’s cash credit and stock credit accounts shall be made in cash. The amount of the distribution for stock credit accounts shall be determined by
multiplying the number of shares of Common Stock attributable to the distribution by the average of the Closing Price of Common Stock on each business day in the month of December immediately prior to the Plan Year in which the installment is to be
paid. 

  

 5 

 3.7 Adjustment. If at any time the number of outstanding shares of Common Stock shall be increased
as the result of any stock dividend, subdivision or reclassification of shares, the number of shares of Common Stock to which each Participant’s stock credit account is equivalent shall be increased in the same proportion as the outstanding
number of shares of Common Stock is increased, or if the number of outstanding shares of Common Stock shall at any time be decreased as the result of any combination or reclassification of shares, the number of shares of Common Stock to which each
Participant’s stock credit account is equivalent shall be decreased in the same proportion as the outstanding number of shares of Common Stock is decreased. In the event the Company shall at any time be consolidated with or merged into any
other corporation and holders of the Company’s Common Stock receive common shares of the resulting or surviving corporation, there shall be credited to each Participant’s stock credit account, in place of the shares then credited thereto,
a stock equivalent determined by multiplying the number of common shares of stock given in exchange for a share of Common Stock upon such consolidation or merger, by the number of shares of Common Stock to which the Participant’s account is
then equivalent. If in such a consolidation or merger, holders of the Company’s Common Stock shall receive any consideration other than common shares of the resulting or surviving corporation, the Participants’ stock credit accounts shall
be adjusted in accordance with the terms set forth in the applicable consolidation or merger agreement, as interpreted by the Plan Administrator. 
 3.8 Installment Amount. In the event a Participant has elected to receive distribution of his or her accounts in more than one installment, the amount of each installment shall be determined by multiplying the current balance
(denominated in cash units for the portion elected to be deferred as cash credits and denominated in stock units for the portion deferred or elected to be deferred in stock credits) in the accounts as determined under Section 3.5, by a
fraction, the numerator of which is one, and the denominator of which is the number of installments yet to be paid. With respect to cash credits, interest shall continue to be credited in accordance with Section 3.5 during the payment period.
For purposes of the Plan, installment payments shall be treated as a single distribution under Section 409A of the Code. 
 3.9
Distribution upon Death. In the event of the death of a Participant, whether before or after ceasing to serve as a Director, any cash credit account and stock credit account to which he or she was entitled, shall be converted to cash and
distributed in a single lump sum to such person or persons or the survivors thereof, including corporations, unincorporated associations or trusts, as the Participant may have designated. All such designations shall be made in writing signed by the
Participant and delivered to the Plan Administrator. A Participant may from time to time revoke or change any such designation by written notice to the Plan Administrator. If there is no unrevoked designation on file with the Plan Administrator at
the time of the Participant’s death, or if the person or persons designated therein shall have all predeceased the Participant or otherwise ceased to exist, such distributions shall be made in accordance with the Participant’s will or in
the absence of a will, to the administrator of the Participant’s estate. Any distribution under this Section 3.9 shall be made within 90 days following the date of the Participant’s death. In this case, a Participant’s stock
credit account shall be converted to cash by multiplying the number of whole and fractional shares of Common Stock to which the Participant’s stock credit account is equivalent by the average of the Closing Price of Common Stock on each
business day during the last month of the calendar quarter prior to the date of death. 
  

 6 

 3.10 Prohibition on Acceleration. Notwithstanding any other provision of the Plan to the contrary,
no distribution shall be made from the Plan that would constitute an impermissible acceleration of payment as defined in Section 409A(a)(3) of the Code and the regulations promulgated thereunder. 
 ARTICLE IV 
 4.1 Plan
Administrator. The Plan Administrator shall have full power and authority to administer the Plan including the power to promulgate forms to be used with regard to the Plan, the power to promulgate rules of Plan administration, the power to
settle any disputes as to rights or benefits arising from the Plan, and the power to make such decisions or take such actions as the Plan Administrator, in its sole discretion, deems necessary or advisable to aid in the proper maintenance of the
Plan. 
 ARTICLE V 
 5.1
Funding. No promise hereunder shall be secured by any specific assets of the Company, nor shall any assets of the Company be designated as attributable or allocated to the satisfaction of such promises. In addition, amounts deferred pursuant
to the terms of the Plan and income attributable to such amounts shall remain (until distributed in accordance with the terms of the Plan) solely the property of the Company, subject to the claims of the Company’s general creditors. 

ARTICLE VI 
 6.1 Non-alienation
of Benefits. No benefit under the Plan shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, or charge; and any attempt to do so shall be void. No such benefit 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. 
 6.2 Domestic Relations Orders. If a court of competent jurisdiction determines pursuant to a judgment, order or approval of a marital property settlement agreement that all or any portion of the benefits payable under the Plan to a
Participant constitute community property of the Participant and his or her spouse or former spouse (hereafter, the “Alternate Payee”) or property which is otherwise subject to division by the Participant and the Alternate Payee, a
division of such property shall not constitute a violation of Section 6.1, and any portion of such property may be paid or set aside for payment to the Alternate Payee. The preceding sentence of this Section 6.2, however, shall not create
any additional rights and privileges for the Alternate Payee (or the Participant) not already provided under the Plan; in this regard, the Administrator shall have the right to refuse to recognize any judgment, order or approval of a marital
property settlement agreement that the Administrator in its sole discretion determines provides for any additional rights and privileges not provided under the Plan, including without limitation provisions relating to form and time of payment.

  

 7 

 ARTICLE VII 
 7.1 Delegation of Administrative Duties. Administrative duties imposed by this Plan may be delegated by the Plan Administrator or the individual charged with such duties. 
 7.2 Governing Law. This Plan shall be governed by the laws of the State of Delaware. 
 7.3 Amendment, Modification and Termination of the Plan. 
  

	 	(a)	The Plan Administrator may amend or modify the Plan at any time and in any respect. 

  

	 	(b)	The Board may terminate and liquidate the Plan on a completely voluntary basis if: (1) the termination does not occur proximate to a downturn in the financial health of the
Company, (2) all nonqualified plans that are aggregated as a single plan with the Plan (pursuant to Code Section 409A) are terminated, (3) no payments are made within the first 12 months following termination, other than payments that
would have been payable under the terms of the Plan if the Plan had not been terminated, (4) all payments are made within 24 months of the termination and (5) a new plan that would be aggregated with the Plan (pursuant to Code
Section 409A) is not established for a period of three years following the date of termination of the Plan. 

  

	 	(c)	The Board may terminate the Plan upon a dissolution of the Company that is taxed under Code section 331 or with the approval of a bankruptcy court pursuant to 11 U.S.C. section
503(b)(1)(A), provided that the deferred amounts are distributed and included in the gross income of the Participants by the latest of (i) the calendar year in which the Plan terminates or (ii) the first calendar year in which payment of
the deferred amounts is administratively practicable. 

 [Signature Page Follows] 
  

 8 

 IN WITNESS WHEREOF, the Board has caused this
amended and restated Plan to be executed by a duly authorized officer of the Company this 15th day of December 2008. 
  

			
	SAFEWAY INC.
		
	By:	 	/s/ Laura A. Donald
	Its:	 	Assistant Vice President

  

 9

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