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MEMORANDUM OF UNDERSTANDING

The following parties hereby enter into this deal memorandum of understanding ("MOU") which memorializes the intent of the parties and the proposed terms under which they are contemplating the formation of a new business venture. The parties agree that they will enter into a formal business agreement at a later date, which will contain the MOU terms and shall be the final and controlling document binding upon all of the parties, as to such subject matter ("Agreement"). If any terms are not specifically defined in this MOU, the parties shall negotiate such, at a later date, and include the additional terms in the Agreement. 

1. Parties to Agreement: 

VIEW SYSTEMS INC. an Nevada Corporation, herein after referred to as "VIEW" or the "Company" with corporate offices at: 

Address: 1550 Caton Center Drive, Suite E, Baltimore, Maryland 21227. 

BORIS GOLDSTEIN with offices at: 

Address: 45 West 34 Street, Suite 800, NYC, NY 10001 

2. Financial and Business Terms 

§

Subject to further due diligence and execution of the Agreement and other ancillary documents, both parties ,\liII pursue a strategic partnerships for the development and sale of certain security products and technologies, including but not limited to the "MINI". 

§

 Boris Goldstein secures on a best efforts basis commitments to provide financing to View Systems, from accredited investors, and on a best efforts basis to facilitate the development, manufacturing and marketing of security products specifically the "~". 

§

 Boris Goldstein, shall receive in escrow 5,000,000 shares (earn-out) and in addition to said shares an option to acquire 10,000,000 shares of common stock, as part of his compensation package. Terms of the options are as follows: 18 mos, strike prices: 5mm shares @ US$0.03 and 5mm shares @ US$0.05. The earn-out shares are to be tied to his performance in delivering incremental sales to VIEW of, de minimis US$1.2 mm., through his own contacts and endeavors on a pro rata bases evaluated quarterly. 

A. Responsibilities of Boris Goldstein: 

§

Boris Goldstein shall assist VIEW in the final design, production and marketing of the MINI. ales and Marketing of the full range of VIEW products. 

§

Responsibilities of VIEW 

§

VIEW shall complete development and manufacturing of the "MINI". 

§

VIEW shall provide infrastructure and support to facilitate Boris Goldstein's sales and marketing activities. 

3.Terms and Conditions of the Agreement Consummation of this MOU and entering to the Agreement will be subject to the following additional terms and conditions: 

§

The parties shall agree to the terms of an Agreement that shall contain terms, conditions, representations, warranties, and covenants normal and appropriate for a transaction of the type contemplated, including, without limitation, those included in this MOU. 

§

The contemplated transaction to be completed within 3 months from the date of execution of this MOU. 

4. General Provisions

The parties agree that said MOU is preliminary and that said MOU may be assigned to other parties or corporations to be formed or designated by the parties, upon written consent of the parties. All benefits of said MOU shall be binding upon the permissable parties and assigns. Further all parties agree to execute all necessary documents to consummate the terms and intent of this MOU. 

Whenever notice is required to be given under this MOU, it shall be deemed to be good and sufficient notice if in writing, signed by an officer or an authorized agent of the party serving such notice and sent by telegram, fax, or mailed by registered or certified mail, to the other party at the address stated above unless notification of a change of address is given in writing. For purposes of notice provided, the date received shall be three (3) days after mailing and two (2) days after telegram or fax. 

This MOU contains the entire understanding of the parties with respect to the subject matter hereof. There are no representations, warranties, promises, covenants or understandings other than those herein contained. The parties agree that this MOU contains the intent of the parties and that the parties must agree upon additional terms in the Agreement. 

This MOU shall he governed by and construed in accordance with the laws of the State of Maryland without regard to the conflict of laws provisions thereof. 

Both parties acknowledge and consent that any controversy or claim arising out of or relating to this MOU, or the breach thereof, shall be settled by submitting such controversy to mediation by a neutral mediator to be agreed upon by the parties. If such controversy cannot be settled by mediation then they shall submit to binding arbitration in accordance with the Rules of the American Arbitration Association to be conducted in the State of New York. The prevailing party in any such arbitration shall be entitled to recover its reasonable attorneys fees and costs from the other party .. 

Each party shall pay for its own legal and accounting fees related to this MOU. 

The parties acknowledge that they have entered into mutual non-disclosure and confidentiality agreement') preventing the parties from disclosing and requiring the parties to maintain the confidentiality of proprietary business and technical information relating to the other party. The parties agree not to disclose any information concerning the MOU or the Agreement to anyone other than their legal counsel, financial advisors, and other professionals working on the MOU or Agreement ·without the consent of the other parties, which consent will not be withheld unreasonably 

The parties agree to cooperate with respect to the conduct of reasonable due diligence for the transactions contemplated by this MOU. The parties agree to conduct their due diligence in a manner that does not unreasonably disrupt the business of another party. The closing of the Agreement shall be conditioned upon the successful completion of due diligence as determined by the parties. 

The Parties and their agents, attorneys, and representatives shall have full and free access to their respective counterpart for due diligence purposes (the confidentiality of which the Parties agrees to retain in .accordance with a Nondisclosure and Confidentiality Agreement executed on April 2009.  Parties' obligations to complete the transaction, shall be subject to the satisfactory results of their respective due diligence investigations. The Parties' and their agents, attorneys, and representatives shall have full and free access to the properties, books, and records of their respective counterparty (the confidentiality of which the Parties agree to retain) for purposes of conducting investigations of the business. 

This MOU constitutes the entire agreement and understanding of the parties hereto with respect to the matters and transactions contemplated hereby and supersedes all prior agreements and understandings whatsoever relating to such matters and transactions 

between the parties. Neither this MOU nor any term hereof may be changed, waived, discharged or terminated orally, but only by an instrument in writing signed by the party against whom enforcement of the change, waiver, discharge or termination is sought. 

The parties acknowledge and agree that this MOD shall be binding on the parties. The parties acknowledge their intention to enter in the Agreement that shall include the terms of this MOU and such other terms and conditions as are agreed upon by the parties.

 

IN WITNESS WHEREOF, the parties hereto have signed by their duly authorized officers as of the day and year first above written. 

BORIS GOLDSTEIN

By: s/ Boris Goldstein

04/29/09

Signature

Date 

Name

VIEW

By: s/ Gunther Than

4/30/09

Signature

Date 

Name/Title:  Gunther Than CEOexhibit_10-1.htm

    Exhibit 10.1

    
 

    FORM
OF 2009 RALCORP HOLDINGS, INC.

    CEO
RESTRICTED STOCK UNIT AGREEMENT

    

    

    This
Restricted Stock Unit Agreement (“Agreement”), dated ________ __, 2009,
evidences an award of restricted stock units made by Ralcorp Holdings, Inc.
(“Company”), to [David P. Skarie/Kevin J. Hunt] (“Executive”), each of which
represents the right to receive on settlement one (1) share of Company common
stock, $.01 par value, (“Common Stock”), subject to all terms and conditions
herein.

    

    WHEREAS, the Company has determined
that it is in the best interests of the Company and its stockholders to grant
Executive the restricted stock units, as provided in this Agreement and subject
to all terms and conditions herein;

    

    NOW
THEREFORE, in consideration of the premises, and of the mutual agreements
hereinafter set forth, the Company and Executive agree as follows:

    

    1.           Grant of
Restricted Stock Units.  The Company
hereby grants to Executive 50,000 restricted stock units (“Award”) on _________
___, 2009 (“Date of Grant”), subject to the terms and conditions as set forth
below.  Each such restricted stock unit (“Unit”) is a bookkeeping
entry that represents the right to receive on a date determined in accordance
with this Agreement one share of Common Stock, subject to the risk of
cancellation and forfeiture as described herein.  This Award is made
under and subject to the terms of the Amended and Restated 2007 Ralcorp
Incentive Stock Plan (“Plan”), which is incorporated herein by
reference.  Capitalized terms defined in the Plan but not defined in
this Agreement shall have the meanings given to them in the Plan.

    

    2.           Vesting
of Restricted Stock Units.

    

    a.           The
Units shall become one hundred percent (100%) vested and nonforfeitable (i) on
[October 31, 2011/December 31, 2013] (“Vesting Date”), provided that Executive
remains continuously employed with the Company through the Vesting Date and
further provided that attainment of the following performance target
(“Performance Target”) is achieved:

    

    (i)           The
compounded annual growth in the Company’s earnings per share over the course of
fiscal years 2010 and 2011 of no less than 10%; or

    

    (ii)           notwithstanding
clause (i), on the date of involuntary termination of employment by the Company
without Cause after the Performance Targets is achieved, death, Disability, or
Change of Control, provided that Executive remains continuously employed with
the Company through the date any such event occurs and further provided that
such event occurs before [October 31, 2011/December 31, 2013].

    

    In the
event that the Units have not vested on or before [October 31, 2011/December 31,
2013], Executive shall forfeit all Units which are not vested as of [October 31,
2011/December 31, 2013], and Executive shall not be entitled to any payment or
other consideration hereunder.

     

     

     

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    3.           Termination
of Employment.  In the event that
Executive’s employment terminates for any reason or no reason, with or without
cause, voluntarily or involuntarily, Executive shall forfeit all Units which are
not, as of the time of such termination, vested, and Executive shall not be
entitled to any payment or other consideration with respect thereto; provided,
however, that on the termination of Executive’s employment prior to [October 31,
2011/December 31, 2013] due to involuntary termination by the Company without
Cause after the Performance Targets is achieved (and only if such Performance
Target is so achieved) or death, the Units hereunder shall vest immediately on
the date of such death or involuntary termination without Cause.

    

    4.           Settlement
of the Restricted Stock Units.

    

    a.           Subject
to the terms and conditions of this Agreement, the Company shall issue to
Executive (or, in the event of death, the person designated under the Plan in
such event) the number of shares of Common Stock that is equal to the number of
vested Units on the first business day which is more than six months following
the date of Executive’s termination of employment.  For this purpose,
a termination of employment will be determined in a manner consistent with
Section 409A of the Code, and the regulations and guidance
thereunder.

    

    b.           The
grant of the Units and issuance of shares of Common Stock upon settlement of the
Units shall be subject to and in compliance with all applicable requirements of
federal, state, and foreign law with respect to such securities.  No
shares of Common Stock may be issued hereunder if the issuance of such shares
would constitute a violation of any applicable federal, state, or foreign
securities laws or other law or regulations or the requirements of any stock
exchange or market system upon which the Common Stock may then be
listed.  The inability of the Company to obtain from any regulatory
body having jurisdiction the authority, if any, deemed by the Company to be
necessary to the lawful issuance of any shares subject to the Units shall
relieve the Company of any liability in respect of the failure to issue such
shares as to which such requisite authority shall not have been
obtained.  As a condition to the settlement of the Units, the Company
may require Executive to satisfy any qualifications that may be necessary or
appropriate, to evidence compliance with any applicable law or regulation and to
make any representation or warranty with respect thereto as may be requested by
the Company.

    

    c.           Shares
issued in settlement of the Units shall be registered in the name of
Executive.  Such shares may be issued either in certificated or book
entry form.  In either event, the certificate or book entry account
shall bear such restrictive legends or restrictions as the Company, in its sole
discretion, shall require.

    

    d.           The
Company shall not be required to issue fractional shares upon the settlement of
the Units.

    

    e.           As
of each dividend payment date for each cash dividend on the Common Stock, the
Company shall award Executive additional restricted stock units, which shall be
subject to the same terms and conditions as the Units granted pursuant to
this

     

     

     

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    Agreement.  The
number of additional restricted stock units to be granted shall equal (i) the
product of (x) the per-share cash dividend payable with respect to each share of
Common Stock on that date, multiplied by (y) the total number of Units which
have not been paid or forfeited as of the record date for such dividend, divided
by (ii) the Fair Market Value of one share of Common Stock on the payment date
of such dividend.  The number of additional Units to be granted if the
dividend is paid in the form of Common Stock shall be determined in accordance
with the manner in which adjustments are determined under the Plan.

    

    5.           Withholding
Taxes.  Executive shall
pay to the Company, or make provision satisfactory to the Company for payment
of, any federal, state, local or foreign taxes required by law to be withheld in
connection with the Award, no later than the date on which such withholding is
required under applicable law.  The Company shall have no obligation
to deliver shares of Common Stock until the tax withholding obligations of the
Company have been satisfied by Executive.

    

    6.           Rights as
a Shareholder.  Executive shall have no rights as a stockholder
with respect to any shares which may be issued in settlement of the Units until
the date of the issuance of a certificate for such shares (as evidenced by the
appropriate entry on the books of the Company or of a duly authorized transfer
agent of the Company), subject to the restrictions herein.

    

    7.           Restrictive
Covenants.

    

    a.           During
the term of Executive’s employment with the Company (or one of its subsidiaries
or affiliates) and service on the Board of Directors of the Company and for two
(2) years thereafter, except in the course of Executive performing his/her job
responsibilities with the Company, Executive will not directly or indirectly, in
a competitive capacity, engage or invest in, own, manage, operate, finance,
control or participate in the ownership, management, operation, financing or
control of, be employed by or under contract with (including as a director,
advisor, or consultant), lend Executive’s name or any similar name to, lend
Executive’s credit to or render services or advice to, or plan or prepare to do
any of the foregoing with any business organization or entity whose products or
activities compete or intend to compete with the Company in the United States or
Canada on food products produced by the Company (including those of its
subsidiaries and operating divisions) (“Competing Company”) at the time of
termination of employment and cessation service on the Board of Directors
(whichever is later); provided however, Executive may purchase or otherwise
acquire up to (but not more than) five percent (5%) of any class of securities
of any entity (but without otherwise participating in the activities of such
entity) if such securities are listed on any national or regional securities
exchange or have been registered under §12(g) of the Securities Exchange Act of
1934, as amended.  For purposes of this Agreement, a business entity
or organization shall be a Competing Company only if more than ten percent (10%)
of its aggregate gross revenues and more than ten percent (10%) of its aggregate
net income are derived from products or activities which compete or intend to
compete with the Company’s food products in the United States and
Canada.

    

    

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    b.           Whether
for Executive’s own account or the account of any other person or entity,
Executive will not (i) at any time during the Executive’s employment with the
Company and service on the Board of Directors and for two (2) years after
Executive’s employee termination of employment and cessation of service or the
Board of Directors (whichever is later), directly or indirectly, solicit as an
employee, independent contractor or otherwise, any person who was a salaried and
bonus eligible employee of the Company at any time during the term of
Executive’s employment with the Company or service on the Board of Directors or
in any manner induce or attempt to induce any employee of the Company to
terminate his or her employment with the Company or any affiliate; or (ii) at
any time during the Executive’s employment with the Company or the service on
the Board of Directors and for two (2) years after Executive’s termination of
employment and cessation of service on the Board of Directors (whichever is
later), interfere with the Company’s relationship with any person or entity who
was a customer or supplier of the Company at the time of Executive’s termination
of employment or cessation of service on the Board of Directors (whichever is
later).

    

    c.           The
parties acknowledge and agree that the time and other limitations contained in
this Section are reasonable and necessary for the proper protection of the
Company.  However, if any arbitrator or court of competent
jurisdiction finds that the time period of the foregoing covenants is too
lengthy or the geographic coverage and scope of the covenants is too broad, the
restrictive time period shall be deemed to comprise the largest scope
permissible by law under the circumstances.  Executive further
acknowledges that, in the event of the termination of his employment with the
Company and cessation of service on the Board of Directors, Executive’s skills
and experience will permit him to find employment in many markets, and the
limitations contained herein will not prevent him from earning a
livelihood.  The period of time applicable to any covenant in this
Section shall be extended by the duration of any actual or threatened violation
by Executive of such covenant.

    

    d.           In
the event Executive violates any provision of this Section, the Company shall
have the right to take all necessary legal action to enforce this
Agreement.  In addition to any remedies available at law, the Company
shall have the right to seek and obtain any equitable and injunctive relief
(without the requirement to post a bond) that a court may determine is
appropriate.  To the extent that the Company is successful in
enforcing this Agreement, Executive shall be responsible for paying the
Company’s reasonable attorneys’ fees and costs.

    

    e.           If
Executive breaches any covenant concerning non-competition, non hiring, or non
solicitation contained herein or to which Executive is or may become a party in
the future, then, in addition to and without in any way limiting the foregoing
or any other remedies:

    

    (i)           any
unvested Units and any vested Units that have not settled as provided herein
shall be forfeited automatically on the date Executive commits such breach;
and

    

    (ii)           in
the event of such a breach, Executive shall pay the Company, within five (5)
business days of receipt by Executive of a written demand therefore, an amount
in cash equal to the amount determined by multiplying the number of shares
of

     

     

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    Common
Stock issued in settlement of Units (without reduction for any shares of Common
Stock delivered by Executive or withheld by the Company for taxes) by the Fair
Market Value of a share of Common Stock on the date the shares of Common Stock
were issued to Executive; and

    

    (iii)           Executive
shall pay any damages in excess of the amounts paid to the Company under the
foregoing.

    

    8.           Additional
Definitions.  For purposes of
this Agreement, the following terms have the meanings set forth
below:

    

    a.           “Cause”
shall mean Executive’s willful engaging in gross misconduct; provided, however,
that a termination for cause shall not include termination attributable to (i)
poor work performance, bad judgment or negligence on the part of Executive, (ii)
an act or omission believed by Executive in good faith to have been in or not
opposed to the best interest of the Company and reasonably believed by Executive
to be lawful, or (iii) the good faith conduct of Executive in connection with a
Change of Control (including opposition to or support of such Change of
Control).

    

    b.           “Change
of Control” shall mean when (i) a person, as defined under the securities laws
of the United States, acquires all or substantially all of the assets of the
Company or 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.  Notwithstanding the foregoing, a Change of Control shall not
include 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.

    

    c.           “Disability”
means Executive is unable to engage in any substantial gainful activity by
reason of any medically determinable physical or mental impairment that can be
expected to result in death or can be expected to last for a continuous period
of not less than 12 months; or, Executive is, by reason of any medically
determinable physical or mental impairment that can be expected to result in
death or can be expected to last for continuous period of not less than 12
months, receiving income replacement benefits for a period of not less than
three months under an accident and health plan covering employees of
Ralcorp.

    

    9.           Entire
Agreement.  The Award is
subject in all respects to the terms and conditions of this Agreement and the
Plan.  No other communications or representations, written or oral,
made prior or subsequent to this Agreement shall be deemed to amend or modify
the terms of this Agreement except by an agreement in writing executed by the
parties subsequent to the date of this Agreement expressly consenting to such
amendment or modification.  Executive hereby waives any rights, and
releases Company from any claim, based on any such prior communications or
representations, if any.

     

     

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    10.           No
Employment Rights.  This Agreement is
not intended to create and should not be construed as creating a contract
guaranteeing employment of any duration with the Company or its subsidiaries or
affiliates.  Employment with the Company and its subsidiaries and
affiliates is at will and can be terminated by Executive or the Company at any
time, for any reason, with or without notice.

    

    11.           Binding
Effect.  This Agreement
shall inure to the benefit of and be binding upon the Company and its
successors.  This Agreement shall be binding upon Executive and
Executive’s heirs, executors, administrators, and assigns.  Executive
shall have no right to transfer or assign the right to receive the Award under
this Agreement.

    

    12.           Not
Funded/Claims.

    

    a.           Any
payments or amounts due under this Agreement are unfunded obligations of the
Company.  The Committee shall have the right to determine in its good
faith judgment whether the Performance Target has been achieved in the event of
unusual or non reoccurring items that impact the Company’s earnings per
share.

    

    b.           Executive
or other person who feels he is entitled to a benefit or right provided under
this Agreement, or his authorized representative, (hereinafter referred to as
“Claimant”) may make a claim, i.e., a request for benefits under this Agreement,
pursuant to the Committee’s procedures.

    

    c.           The
Company shall, within 90 days after its receipt of such claim, make its
determination. However, if special circumstances require an extension of time
for processing the claim, the Company shall furnish the Claimant, within 90 days
after its receipt of such claim, written notification of the extension
explaining the circumstances requiring such extension and the date that it is
anticipated that such written statement will be furnished, and shall provide
such Claimant with its determination not later than 180 days after receipt of
the Claimant’s claim.

    

    In the
event the claim is denied, the Company shall provide such Claimant a written
statement of the Adverse Benefit Determination, as defined below. The notice of
Adverse Benefit Determination shall be delivered or mailed to the Claimant by
certified or registered mail to his last known address, which statement shall
contain the following:

    

    (i)           the
specific reason or reasons for Adverse Benefit Determination;

    

    (ii)           a
reference to the specific provisions of the Agreement upon which the Adverse
Benefit Determination is based;

    

    (iii)           a
description of any additional material or information that is necessary for the
Claimant to perfect the claim;

    

    (iv)           an
explanation of why that material or information is necessary; and

     

     

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    (v)           an
explanation of the review procedure provided below, including applicable time
limits and a notice of a Claimant’s rights to bring a legal action under ERISA
after an Adverse Benefit Determination on appeal.

    

    (d)           Within
60 days after receipt of a notice of an Adverse Benefit Determination as
provided above, if the Claimant disagrees with the Adverse Benefit
Determination, the Claimant, or his authorized representative, may request, in
writing, that the Committee review his claim and may request to appear before
the Committee for such review.  If the Claimant does not request a
review of the Adverse Benefit Determination within such 60 day period, he shall
be barred and estopped from appealing the Company’s Adverse Benefit
Determination.  Any appeal shall be filed with the Committee at the
address prescribed by the Committee, and it shall be considered filed on the
date it is received by the addressee.  In deciding any appeal, the
Committee shall act in its capacity as a named fiduciary.

    

    The
Claimant shall have the rights to:

    

    (i)           submit
written comments, documents, records and other information relating to the claim
for benefits;

    

    (ii)           request,
free of charge, reasonable access to, and copies of all documents, records and
other information relevant to his claim for benefits.

    

    (e)           Within
60 days after receipt by the Committee of a written application for review of a
Claimant’s claim, the Committee shall notify the Claimant of its decision by
delivery or by certified or registered mail to his last known address; provided,
however, in the event that special circumstances require an extension of time
for processing such application, the Committee shall so notify the Claimant of
its decision not later than 120 days after receipt of such
application.

    

    In the
event the Committee’s decision on appeal is adverse to the Claimant, the
Committee shall issue a written notice of an Adverse Benefit Determination on
Appeal that will contain all of the following information, in a manner
calculated to be understood by the Claimant:

    

    (i)           the
specific reason(s) for the Adverse Benefit Determination on Appeal;

    

    (ii)           reference
to specific Agreement provisions on which the benefit determination is
based;

    

    (iii)           a
statement that the Claimant is entitled to receive, upon request and free of
charge, reasonable access to and copies of all documents, records and other
information relevant to the Claimant’s claim for benefits; and a statement of
the Claimant’s right to bring an action under ERISA Section 502(a).

    

    (f)           Notwithstanding
anything herein, if a Claimant is denied a benefit because he is determined not
to be disabled and he makes a claim pursuant to such denial, the

     

     

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    provisions
of this subsection shall apply.  Upon receipt of a claim, the reply
period shall be forty-five (45) days.  If, prior to the end of such
45-day period, the claims reviewer determines that, due to matters beyond its
control, a decision cannot be rendered, the period for making the determination
may be extended for up to thirty (30) days, and the claims reviewer shall notify
the Claimant, prior to the expiration of such 45-day period, of the
circumstances requiring an extension and the date by which the reviewer expects
to render a decision.  If, prior to the end of the first 30-day
extension period, the claims reviewer determines that, due to matters beyond its
control, a decision cannot be rendered within that extension period, the period
for making the determination may be extended for up to an additional thirty (30)
days, and the claims reviewer shall notify the Claimant, prior to the expiration
of the first 30-day extension period, of the circumstances requiring the
extension and the date by which it expects to render a decision.  In
the case of any extension described in this paragraph, the notice of extension
shall specifically explain the standards on which entitlement to a benefit is
based, the unresolved issues that prevent a decision on the claim and the
additional information needed to resolve those issues, and the Claimant shall be
afforded forty-five (45) days within which to provide the specified
information.  If information is requested, the period for making the
benefit determination shall be tolled from the date on which notification of an
extension is sent to the Claimant until the date on which the Claimant responds
to the request for information.

    

    Within one hundred eighty (180) days
after receiving the written notice of an adverse disposition of the claim, the
Claimant may request in writing, and shall be entitled to, a review of the
benefit determination.  In deciding an appeal of any adverse benefit
determination that is based in whole or in part on a medical judgment, the
reviewer shall consult with a health care professional who has appropriate
training and experience in the field of medicine involved in the medical
judgment.  Such health care professional shall be an individual who is
neither an individual who was consulted in connection with the adverse benefit
determination that is the subject of the appeal nor the subordinate of any such
individual.  The medical or vocational experts whose advice was
obtained on behalf of the reviewer in connection with the Claimant’s adverse
benefit determination will be identified to the Claimant.  If the
Claimant does not request a review within one hundred eighty (180) days after
receiving written notice of the original’s disposition of the claim, the
Claimant shall be deemed to have accepted the original written
disposition.

    

    A decision on review shall be rendered
in writing within a reasonable period of time, but ordinarily not later than
forty-five (45) days after receipt of the Claimant’s request for review, unless
the reviewer determines that special circumstances require an extension of time
for processing the claim.  If an extension of time for processing is
required, written notice of the extension shall be furnished to the Claimant
prior to the termination of the initial forty-five (45) period.  In no
event shall such extension exceed a period of forty-five (45) days from the end
of the initial period.  The extension notice shall indicate the
special circumstances requiring an extension of time and the date by which the
reviewer expects to render the determination on review.  In the event
the extension is due to a Claimant’s failure to submit information necessary to
decide the claim, the Claimant shall be afforded forty-five (45) days within
which to provide the

     

     

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    specified
information, and the period for making the benefit determination on review shall
be tolled from the date on which notification of the extension is sent to the
Claimant until the date on which the Claimant responds to the request for
additional information.

    

    (g)           As
used herein, the term “Adverse Benefit Determination” shall mean a determination
that results in any of the following: the denial, reduction, or termination of,
or a failure to provide or make payment (in whole or in part) for, a benefit,
including any such denial, reduction, termination, or failure to provide or make
payment that is based on a determination of the Claimant’s eligibility to
participate in the Agreement.

    

    (h)           A
Claimant may bring a legal action with respect to a claim only if (i) all
procedures described above have been exhausted, and (ii) the action is commenced
within ninety (90) days after a decision on review is furnished.

    

    13.           Applicable
Law.                                To
the extent that Federal laws do not otherwise control, this Agreement and all
determinations made or actions taken pursuant hereto shall be governed by the
laws of the state of Missouri, without regard to the conflict of laws rules
thereof.

    

    IN
WITNESS WHEREOF, the parties have executed this Agreement, this ___ day of
October, 2009.

    

    
      	
              RALCORP
      HOLDINGS, INC.

            	
              EXECUTIVE

               

            
	
              By:    
      _________________________

            	
              __________________________

            
	
              Title: 
      

            	
              David
      P. Skarie/Kevin J. Hunt

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