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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>EXHIBIT 10.44 </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4><U>2003 NON-QUALIFIED
STOCK OPTION AGREEMENT</U> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ralcorp
Holdings, Inc. (the &#147;Company&#148;), effective September 18, 2003, grants this
Non-Qualified Stock Option to ______________ (&#147;Optionee&#148;) to purchase a total of ________ shares of
its $.01 par value Common Stock (the &#147;Common Stock&#148;) at a price of $29.85 per
share pursuant to the Ralcorp Holdings, Inc. Incentive Stock Plan (the &#147;Plan&#148;).
Subject to the provisions of the Plan and the following terms, Optionee may exercise this
option as set forth below by tendering to the Company written notice of exercise together
with the purchase price in either cash, or in shares of Common Stock of the Company at
their fair market value as determined by the Company&#146;s Board of Directors (the
&#147;Board&#148;), or in both cash and such shares. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>NOW
THEREFORE</B>, the Company and Optionee agree, for and in consideration of the terms
hereof, as follows: </FONT></P>

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          <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1. </FONT></TD>
          <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          <U>Exercise</U> &#151; This Option shall become exercisable upon the occurrence
          of any of the events set forth below. This Option shall become exercisable in
          full on the date of such event and shall remain exercisable for the periods set
          forth below. Thereafter, the unexercised portion of this Option is forfeited and
          may not be exercised. </FONT></P></TD>
          </TR>
          </TABLE>
          <BR>

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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>a. </FONT></TD>
<TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Optionee&#146;s death (exercisable for three years).<br><br> </FONT></P>
</td></tr>
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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>b. </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Optionee&#146;s voluntary termination or retirement (whether pursuant to any
                    mandatory retirement provision of the Company&#146;s Articles of Incorporation,
                    Bylaws or Board resolution, or otherwise) at or after attainment of age 70
                    (exercisable for three years). </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>c. </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Optionee&#146;s voluntary termination due to mental or physical impairment
                    resulting in his inability to serve as a Director (exercisable for three years). </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>d. </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Optionee&#146;s voluntary termination, or termination due to expiration of
                    Optionee&#146;s term without re-election to a subsequent term in connection with
                    or following a Change-in-Control (exercisable for six months). </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>e. </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Optionee&#146;s voluntary termination, or termination due to expiration of
                    Optionee&#146;s term without re-election to a subsequent term other than under
                    circumstances set forth in paragraphs 1.b., 1.c., or 1.d. (exercisable for 90
                    days). </FONT></P></TD>
                    </TR>
                    </TABLE>
                    <BR>

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          <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2. </FONT></TD>
          <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          <U>Forfeiture</U> &#151; Notwithstanding anything to the contrary contained in
          the Plan, this Option is subject to forfeiture if Optionee is removed from his
          position as a Director for cause in accordance with the Company&#146;s Articles
          and Bylaws and the corporation laws of the State of Missouri or if Optionee
          fails to exercise this Option within the appropriate period set forth in
          paragraph 1, but shall not be subject to forfeiture for any other reason.
          Following forfeiture, no portion of this Option may be exercised. </FONT></P></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3. </FONT></TD>
          <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          <U>Change in Control</U> &#151; In the case of a Change in Control (other than a
          transaction in which the Company is the continuing or surviving corporation and
          which does not result in the outstanding shares of Common Stock being converted
          into or exchanged for different securities, cash or other property, or any
          combination thereof), Optionee shall have the right (subject to the provisions
          of the Plan and any limitation applicable to the Option contained herein)
          thereafter and during the term of the Option, to receive upon exercise thereof
          the Acquisition Consideration (as defined below) receivable upon the Change in
          Control by a holder of the number of shares of Common Stock which would have
          been obtained upon exercise of the Option or portion thereof, as the case may
          be, immediately prior to the Change in Control. </FONT></P></TD>
          </TR>
          </TABLE>
          <BR>

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          <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4. </FONT></TD>
          <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          <U>Definitions</U> &#151; For purposes of this Agreement, the following terms
          have the meanings set forth below: </FONT></P></TD>
          </TR>
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          <BR>

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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>a. </FONT></TD>
<TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#147;<U>Acquisition Consideration</U>&#148; &#151; Shall mean the kind and
               amount of shares of the surviving or new corporation, cash, securities, evidence
               of indebtedness, other property or any combination thereof receivable in respect
               of one share of the Common Stock upon consummation of a Change in Control. In
               the case of a Change in Control resulting from the event set forth in paragraph
               4(b)(i), the value of the Acquisition Consideration shall be equal to the
               highest price paid by such person for a share of the Company&#146;s Common Stock
               during the two-year period preceding the date on which such person became the
               beneficial owner of more than 50% of the Company&#146;s Common Stock. If such
               price is paid in the form of non-cash consideration, the value of the
               Acquisition Consideration shall be equal to the fair market value of such
               consideration at the time of the purchase of such share. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>b. </FONT></TD>
<TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#147;<U>Change in Control&#148;</U> &#151; Shall mean when (i) a person, as
               defined under the securities laws of the United States, acquires beneficial
               ownership of more than 50% of the outstanding voting securities of the Company;
               or (ii) the directors of the Company, immediately before a business combination
               between the Company and another entity, or a proxy contest for the election of
               directors, shall as a result of such business combination or proxy contest,
               cease to constitute a majority of the Board of Directors of the Company or any
               successor to the Company. </FONT></P></TD>
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          <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5. </FONT></TD>
          <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          This Agreement shall be governed by the laws of the State of Missouri without
          reference to the conflict of laws provisions thereof. </FONT></P></TD>
          </TR>
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          <BR>

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          <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>6. </FONT></TD>
          <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          No amendment or modification of this Option shall be valid unless the same shall
          be in writing and signed by the Company and Optionee. The foregoing, however,
          shall not prevent the Company from amending or modifying the Plan except that no
          such amendment or modification shall adversely affect the Optionee&#146;s rights
          under this Option Agreement. </FONT></P></TD>
          </TR>
          </TABLE>
          <BR>

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     <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;</td>
     <TD WIDTH=30% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ACKNOWLEDGED AND</TD>
     <TD WIDTH=10% ALIGN=LEFT>&nbsp;</TD>
     <TD WIDTH=30% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>RALCORP HOLDINGS, INC.</TD>
     <TD WIDTH=25% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</td>
</TR>

<TR>
<td>&nbsp;</td>
<TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ACCEPTED:</td>
</tr>

<tr>
<td><Br><br></td>
</tr>

<tr>
<td>&nbsp;</td><td align=left valign=top><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left  valign=top><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By:<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
</tr>

<tr>
<td>&nbsp;</td><td align=left valign=top><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Optionee</td>
<td>&nbsp;</td>
<td align=left valign=top><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R. W. Lockwood<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Secretary<br></td>
</tr>

<tr>
<td>&nbsp;</td><td align=left valign=top><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>
Date</td>
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<A NAME=A001></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>EXHIBIT 10.47 </FONT></H1>

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<A NAME=A002></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4><U>RETIREMENT AGREEMENT
AND GENERAL RELEASE</U> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
is a Retirement Agreement and General Release (referred to as &#147;Agreement&#148;)
entered into this 30 day of September, 2003, by and between Robert W. Lockwood (referred
to as &#147;EMPLOYEE&#148;) and Ralcorp Holdings, Inc. (referred to as
&#147;COMPANY&#148;). </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
consideration of the mutual promises contained in this Agreement, the COMPANY and the
EMPLOYEE agree as follows: </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          EMPLOYEE and the COMPANY agree that EMPLOYEE will remain on the job and perform
          all of his duties until September 30, 2003, or such other date as the COMPANY
          and EMPLOYEE mutually agree, at which time EMPLOYEE shall retire from the
          COMPANY. After that date, EMPLOYEE will no longer be required to report for work
          or perform further duties. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          Beginning the effective date of this Agreement, EMPLOYEE and the COMPANY
          understand and agree as follows: </FONT></P>

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               <TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>a. </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=94%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               EMPLOYEE shall receive no less than the same monthly salary as EMPLOYEE received
               as of the effective date of this Agreement; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>b. </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=94%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               EMPLOYEE shall perform whatever duties are assigned by the COMPANY, provided
               such duties are comparable to those presently performed by EMPLOYEE; and </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>c. </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=94%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The COMPANY reserves the right to discharge EMPLOYEE prior to the date EMPLOYEE
               is removed from the payroll if EMPLOYEE exhibits conduct disruptive to the
               COMPANY or its employees or for any reason of gross misconduct. In the event
               such termination takes place prior to EMPLOYEE&#146;S last day of work, EMPLOYEE
               shall not be entitled to receive the benefits under this Agreement. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          Provided EMPLOYEE remains on the job and performs the assigned job duties in an
          acceptable manner as provided in Paragraphs 1 and 2, the COMPANY agrees to the
          following: </FONT></P>

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               <TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>a. </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=94%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               to provide EMPLOYEE with salary and benefit continuation through December 31,
               2003. Benefit continuation shall include all benefits provided to him on the
               effective date of this Agreement (including group health insurance, executive
               health insurance, life insurance, executive life insurance, pension accrual,
               executive supplemental retirement, 401k, executive 401k, executive financial
               planning, vacation and other benefits </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=94%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>programs available generally to salaried
               executives of Ralcorp) but excluding benefits under Ralcorp&#146;s severance pay
               plan and long term disability coverage. During this salary and benefit
               continuation period, EMPLOYEE agrees that he will make himself available to
               assist in any transition issues. On December 31, 2003, EMPLOYEE will be removed
               from the COMPANY&#146;S payroll and transferred to retiree status; and </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>b. </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=94%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               to pay EMPLOYEE for accrued vacation not yet taken in accordance with COMPANY
               policy, less legally required deductions, within two (2) weeks of
               EMPLOYEE&#146;S last day on the payroll. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               The COMPANY previously granted EMPLOYEE certain Non-Qualified Stock Options
               pursuant to the Ralcorp Holdings, Inc. Incentive Stock Plan and 2002 Incentive
               Stock Plan. For purposes of vesting and exercise of these stock options,
               EMPLOYEE&#146;S termination shall be considered an age 62 retirement. EMPLOYEE
               will not be eligible to receive additional awards under the Incentive Stock Plan
               after the date of this Agreement. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               Any amount previously deferred by EMPLOYEE under the Ralcorp Holdings, Inc.
               Deferred Compensation Plan for Key Employees will be paid out in accordance with
               the terms of that Plan and EMPLOYEE&#146;S elections thereunder. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               EMPLOYEE is a party to a Management Continuity Agreement with the COMPANY dated
               as of March 15, 2001 which is incorporated by reference into this Retirement
               Agreement and General Release. Upon the occurrence of a Change in Control prior
               to the December 31, 2003, EMPLOYEE shall be entitled to the Severance Benefits
               provided under the Management Continuity Agreement, except that there shall be
               deducted therefrom any amounts received prior to the Change in Control under
               this Agreement. In that event, EMPLOYEE&#146;S employment shall be deemed
               terminated on the date of such Change in Control and his rights to receive
               further compensation and benefits under this Agreement shall cease. After
               December 31, 2003, EMPLOYEE shall have no further rights to Severance Benefits
               under the Management Continuity Agreement unless the Change in Control occurs
               prior to this date. Except as provided in this paragraph, EMPLOYEE waives any
               and all rights under the Management Continuity Agreement. Terms used in this
               paragraph that are defined in the Management Continuity Agreement shall have the
               meanings set forth therein. </FONT></p>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               EMPLOYEE previously qualified to participate in the following retiree benefit
               plans upon his termination of employment: Retiree Health, Executive Retiree
               Health, Retiree Life Insurance and Executive Retiree Life Insurance. EMPLOYEE
               shall have the right to begin participating in any of the retiree plans set
               forth in this Paragraph upon termination as provided in Paragraph 3a, in
               accordance with the terms of such plans and provided EMPLOYEE pays any necessary
               contributions to participate in such plans. This Agreement shall not in any way
               supercede the terms and provisions of such plans, including the right to modify
               or terminate these plans, nor should it be construed as a guarantee that the
               COMPANY will make these benefits available in the future. </FONT></P>

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<HR SIZE=5 COLOR=GRAY NOSHADE></td>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               EMPLOYEE agrees: </FONT></P>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>a. </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=94%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               to waive all claims to future employment with the COMPANY; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>b. </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=94%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               to cooperate with and assist the COMPANY whenever reasonably possible, so that
               all EMPLOYEE&#146;S duties, responsibilities and pending matters can be
               transferred in an orderly way; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>c. </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=94%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               to return all the COMPANY materials that may have been issued to EMPLOYEE,
               including, but not limited to, draft books, office equipment, credit cards, cash
               advances and, if necessary, to file any outstanding final expense report; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>d. </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=94%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               not to use or to disclose, either directly or indirectly, to anyone not
               connected with the COMPANY any confidential information or trade secrets which
               EMPLOYEE obtained during the term of EMPLOYEE&#146;S employment with the
               COMPANY; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>e. </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=94%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               not to make any copies for use outside of the COMPANY of any client lists or any
               memoranda, books, records, or documents which contain confidential information
               or trade secrets belonging to the COMPANY; </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>f. </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=94%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               not to apply for unemployment compensation benefits since EMPLOYEE is retiring;
               and </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>g. </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=94%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               to provide the COMPANY with reasonable cooperation and assistance, upon the
               COMPANY&#146;S request, including testifying at all trials, when EMPLOYEE might
               have relevant information. The COMPANY shall pay EMPLOYEE for any reasonable and
               necessary expenses and any loss of wages or salary, which EMPLOYEE incurs
               because of EMPLOYEE&#146;S requested cooperation with and assistance to the
               COMPANY. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               It is understood and agreed that only the salary continuation identified in
               Paragraph 3a and the vacation payment identified in Paragraph 3b will be
               considered benefit earnings for applicable benefit plans of Ralcorp Holdings,
               Inc. Any other monies paid to EMPLOYEE pursuant to this agreement shall not
               constitute earnings for benefit plan purposes. EMPLOYEE further understands and
               agrees that he will not be eligible for a bonus for Fiscal Year 2004. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               The promises and payments contained in Paragraphs 1, 3 and 4 above are in
               addition to any wages, bonuses and commissions to which EMPLOYEE already is
               entitled because of EMPLOYEE&#146;S work for the COMPANY. EMPLOYEE agrees to
               accept the promises and terms in Paragraphs 1, 3 and 4 above in consideration
               for the settlement, waiver and release and discharge of any and all claims or
               actions against the COMPANY arising under any federal, state, or local statute,
               law, or regulation pertaining to employment discrimination on the basis of sex,
               race, color, religion, creed, national origin, age, handicap or disability,
               marital status, or any other reason established by law, including any claim of
               wrongful discharge. </FONT></P>
               <BR>
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<HR SIZE=5 COLOR=GRAY NOSHADE>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               EMPLOYEE Makes The Following Promises Not To Sue: </FONT></P>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>a. </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=94%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               EMPLOYEE releases, settles and forever discharges the COMPANY, including its
               agents and employees, from any and all claims, causes of action, rights,
               demands, debts, or damages of whatever nature, whether or not EMPLOYEE currently
               knows of them, which might have arisen from EMPLOYEE&#146;S employment with and
               subsequent termination from the COMPANY and which may be brought by EMPLOYEE or
               another person or agency on EMPLOYEE&#146;S behalf. This includes, but is not
               limited to, any claim EMPLOYEE might raise for wrongful discharge as well as any
               other claim raised under contract or tort law except those types of claims which
               the parties specifically have excluded from this release of claims and
               identified in Paragraph 12 below. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>b. </FONT></TD>
               <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
               <TD WIDTH=94%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               EMPLOYEE expressly releases the COMPANY from any and all legal liability and
               waives all claims, demands, or causes of action which EMPLOYEE may have against
               the COMPANY, its agents, representatives, and employees under all federal,
               state, and/or local laws regulating employment, including but not limited to,
               all discrimination claims under the Civil Rights Acts of 1964, as amended, the
               Age Discrimination in Employment Act, the Americans with Disabilities Act, Civil
               Rights Act known as 42 USC 1981, the Handicap Discrimination Act and the Family
               and Medical Leave Act. </FONT></P></TD>
               </TR>
               </TABLE>
               <BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent" FSL="Default" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               This Agreement shall not affect EMPLOYEE&#146;S right to raise any claims based
               on any Social Security or Workers&#146; Compensation laws, or based on the terms
               of any employee pension or welfare benefit plans or programs of the COMPANY,
               including its subsidiaries and affiliated companies, which may involve benefits
               that should be paid to EMPLOYEE now or in the future. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent" FSL="Default" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               This Agreement is intended to finally and fully conclude the employment
               relationship between EMPLOYEE and the COMPANY and shall not be interpreted as an
               admission by either the EMPLOYEE or the COMPANY of any wrongdoing or any
               violation of federal, state or local law, regulation, or ordinance. The COMPANY
               specifically denies that it, or its employees, supervisors, representatives, or
               agents has ever committed any wrongdoing whatsoever against EMPLOYEE. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               EMPLOYEE agrees not to talk about, write about, or otherwise disclose the
               existence of this Agreement, the terms of this Agreement, or any fact concerning
               its negotiation, execution, or implementation to any person, firm, or
               corporation, other than the EMPLOYEE&#146;S spouse or attorney, unless EMPLOYEE
               is required to do so by federal, state, or local law, or by a court of competent
               jurisdiction. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               The Parties understand and agree that for purposes of this Agreement, the term
               &#147;COMPANY&#148; as used herein, shall include not only Ralcorp Holdings,
               Inc., but also </FONT></P>

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<HR SIZE=5 COLOR=GRAY NOSHADE>

<!-- MARKER FORMAT-SHEET="Para (List) Indent" FSL="Default" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>any of the subsidiary or affiliated companies of Ralcorp
               Holdings, Inc., and all officers, directors, agents, and employees of any of the
               foregoing. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent" FSL="Default" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               This Agreement will be governed by and construed and enforced under the laws of
               the State of Missouri, without regard to its conflict of law rules. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent" FSL="Default" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               In the event that any one or more of the provisions of this Agreement is held to
               be invalid, illegal or unenforceable, the validity, legality and enforceability
               of the remaining provisions will not in any way be affected or impaired thereby. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent" FSL="Default" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               EMPLOYEE expressly acknowledges that the COMPANY has given him at least
               twenty-one (21) days to consider this Agreement and that EMPLOYEE has had the
               opportunity to discuss all aspects of this Agreement with an attorney before
               signing this Agreement. EMPLOYEE states that he has discussed this Separation
               Agreement and General Release or, in the alternative, has freely elected to
               waive any further opportunity to discuss this Agreement with an attorney before
               signing it. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               The Parties agree and understand that EMPLOYEE may revoke acceptance within
               seven (7) days after signing this Agreement. EMPLOYEE&#146;S notice of
               revocation must be given to the Vice President of Human Resources of Ralcorp
               Holdings, Inc. in writing within seven days after signing this Agreement. If
               EMPLOYEE does revoke this Agreement, neither EMPLOYEE nor the COMPANY will be
               required to satisfy any of the terms of this Agreement. EMPLOYEE agrees that
               should he revoke this Agreement in order to challenge its validity, EMPLOYEE
               will be obligated to repay any monies paid to him if the Agreement is found
               invalid. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent" FSL="Default" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               EMPLOYEE expressly acknowledges that he understands all the terms and effect of
               this Agreement and is entering voluntarily into this Retirement Agreement and
               General Release. </FONT></P></TD>
               </TR>
               </TABLE>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>

<TR VALIGN=Bottom>
     <TD WIDTH=30% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</TD>
     <TD WIDTH=10% ALIGN=LEFT>&nbsp;</TD>
     <TD WIDTH=30% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>RALCORP HOLDINGS, INC.</TD>
     <TD WIDTH=30% ALIGN=LEFT>&nbsp;</TD>
</TR>

<tr>
<td><Br><br></td>
</tr>

<tr>
<td align=left valign=top><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u>/s/ Robert W. Lockwood&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;</TD>
<TD align=left  valign=top><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By:<u>&nbsp;&nbsp;/s/ Joe R. Micheletto&nbsp;&nbsp;&nbsp;&nbsp;</td>
</tr>

<tr>
<td align=left valign=top><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Robert W. Lockwood</td>
<td>&nbsp;</td>
<td align=left valign=top><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Joe R. Micheletto<br>
Chief Executive Officer and<BR>President</td>
</tr>

<tr>
<td><Br><br></td>
</tr>

<tr>
<td align=left valign=top><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Signed this <u>10th</u> day of<BR><u>October, </u>2003</td>
<td>&nbsp;</td>
<td align=left valign=top><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Signed this <u>10th</u> day of<BR><u>October, </u>2003</td>
</tr>

<tr>
<td><Br><br></td>
</tr>

<tr>
<td align=left valign=top><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Witness: <U>/s/ Judy Broleman</u></td>
</tr>

<tr>
<td align=left valign=top><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Judy Broleman<BR><BR>Dated: <U>October 10, 2003</U></td>
</tr>
</table>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00059-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00059-of-00352.parquet"}]]