Document:

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                                                                  Exhibit 10.5.4

                     VISTEON CORPORATION 2004 INCENTIVE PLAN
               VISTEON CORPORATION EMPLOYEES EQUITY INCENTIVE PLAN

                TERMS AND CONDITIONS OF STOCK APPRECIATION RIGHTS

     Visteon Corporation, a Delaware corporation (together with its
subsidiaries, the "Company"), subject to the terms and conditions of the Visteon
Corporation 2004 Incentive Plan, formerly known as the Visteon Corporation 2000
Incentive Plan, and the Visteon Corporation Employees Equity Incentive Plan
(collectively, the "Plan") and this Agreement, hereby grants to the Participant
named in the Notification Summary or Appendix to this Agreement, Stock
Appreciation Rights ("SARs") as further described below.

     1.   Grant of SARs.

          The Company hereby grants to the Participant the number of SARs set
forth in the Notification Summary or Appendix, effective as of the date or dates
("Grant Date") and exercisable as of the date or dates ("Vesting Dates") at the
price per SAR ("Exercise Price") set forth in the Notification Summary or
Appendix, in accordance with the terms and conditions specified herein. Each SAR
represents the right to receive, without payment to the Company, an amount of
cash equal to the amount by which the Fair Market Value of a share of Company
Common Stock exceeds the Exercise Price on the date the SAR is exercised. In the
event of certain corporate transactions, the number of SARs covered by this
Agreement may be adjusted by the Organization and Compensation Committee of the
Board of Directors of the Company (the "Committee") as further described in
Section 13 of the Plan.

     2.   Termination of Employment.

          a. Unless provided otherwise under the remaining provisions of this
Paragraph 2, if the Participant's employment with the Company is terminated for
any reason, the Participant's right to exercise the SAR will terminate on the
date of termination of employment and all rights hereunder will cease. SARs that
have not yet vested as of the date of termination of employment will be
forfeited.

          b. Notwithstanding the provisions of Paragraph 2a, if the
Participant's employment with the Company is terminated by reason of retirement,
disability or death, and provided that at the date of termination, the
Participant had remained in the employ of the Company for at least 180 days
following the Grant Date, the Participant's rights with respect to the SARs will
continue in effect or continue to accrue for the period ending on the date
immediately preceding the fifth anniversary of the Grant Date, for SARs with a
Grant Date prior to 2007; and on the date immediately preceding the seventh
anniversary of the Grant Date, for SARs with a Grant Date after 2006, subject to
any other limitation on the exercise of such rights in effect at the date of
exercise. For purposes of this Agreement, "retirement" means normal, regular
early, special early or disability retirement under a retirement plan of the
Company that

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includes such provisions, or retirement after 30 years of service, after
attaining age 55 and 10 years of service, or after attaining age 65, under any
other retirement plan of the Company.

          c. Notwithstanding the provisions of Paragraph 2a, if the
Participant's employment with the Company is terminated under mutually
satisfactory conditions, and provided that at the date of termination, the
Participant had remained in the employ of the Company for at least 180 days
following the Grant Date, the Participant's rights with respect to the SARs will
continue in effect or continue to accrue until the date 90 days after the date
of such termination (but not later than the date immediately preceding the fifth
anniversary of the Grant Date, for SARs with a Grant Date prior to 2007; and on
the date immediately preceding the seventh anniversary of the Grant Date, for
SARs with a Grant Date after 2006), subject to any other limitation on the
exercise of such rights in effect at the date of exercise.

          d. Notwithstanding the provisions of Paragraph 2a, if the
Participant's employment with the Company is terminated at any time by reason of
a sale or other disposition (including, without limitation, a transfer to a
joint venture) of the division, operation or subsidiary in which the Participant
was employed or to which the Participant was assigned, the Participant's rights
with respect to the SARs will terminate on the date of such termination, or such
later date as is approved by the Committee (but not later than the date
immediately preceding the fifth anniversary of the Grant Date, for SARs with a
Grant Date prior to 2007; and on the date immediately preceding the seventh
anniversary of the Grant Date, for SARs with a Grant Date after 2006), provided
that the Participant satisfies both of the following conditions: (i) at the date
of termination, the Participant had remained in the employ of the Company for 90
days following the Grant Date, and (ii) the Participant continues to be or
becomes employed in such division, operation or subsidiary following such sale
or other disposition and remains in such employ until the date of exercise of
such SARs.

          e. Notwithstanding the provisions of Paragraph 2a, if the
Participant's employment with the Company is terminated due to layoff, and
provided that at the date of termination, the Participant had remained in the
employ of the Company for at least 365 days following the Grant Date, the
Participant's rights with respect to the SARs will continue in effect until the
date 365 days after the date of such termination (but not later than the date
immediately preceding the fifth anniversary of the Grant Date, for SARs with a
Grant Date prior to 2007; and on the date immediately preceding the seventh
anniversary of the Grant Date, for SARs with a Grant Date after 2006), subject
to any other limitation on the exercise of such rights in effect at the date of
exercise. SARs not yet vested at the date of termination will be forfeited.

          f. Notwithstanding the provisions of Paragraph 2a, if the
Participant's employment with the Company is terminated by reason of discharge
or release in the best interest of the Company, the Participant's right to
exercise the SAR will terminate on the date of termination of employment and all
rights hereunder will cease.

          g. Notwithstanding the provisions of Paragraph 2a, if the
Participant's employment with the Company is terminated by reason of voluntary
quit, the Participant's rights with respect to SARs that are vested at the date
of termination will continue in effect until the date 90 days after the date of
such termination (but not later than the date immediately preceding the fifth
anniversary of the Grant Date, for SARs with a Grant Date prior to 2007; and on
the

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date immediately preceding the seventh anniversary of the Grant Date, for SARs
with a Grant Date after 2006), subject to any other limitation on the exercise
of such rights in effect at the date of exercise. SARs not yet vested at the
date of termination will be forfeited.

          h. Notwithstanding the provisions of Paragraph 2a, if the
Participant's employment with the Company is terminated without cause under the
provisions of the Visteon Separation Program (VSP) or a successor severance plan
of the Company, and provided that at the date of termination, the Participant
had remained in the employ of the Company for at least 180 days following the
Grant Date, the Participant's rights with respect to the SARs will continue in
effect until the date 365 days after the date of such termination (but not later
than the date immediately preceding the fifth anniversary of the Grant Date, for
SARs with a Grant Date prior to 2007; and on the date immediately preceding the
seventh anniversary of the Grant Date, for SARs with a Grant Date after 2006),
subject to any other limitation on the exercise of such rights in effect at the
date of exercise. SARs not yet vested at the date of termination will be
forfeited.

     3.   Cancellation of the SARs.

          The SARs will terminate, and cease to be exercisable, on the earliest
of the following:

          a. The date immediately preceding the fifth anniversary of the Grant
Date, for SARs with Grant Dates prior to 2007; and the date immediately
preceding the seventh anniversary of the Grant Date, for SARs with Grant Dates
after 2006;

          b. In the event of the Participant's termination of employment, such
earlier date as determined in accordance with the rules set forth in Paragraph
2.

     4.   Exercise of SARs.

          a. The Participant may, subject to the limitations of this Agreement
and the Plan, exercise all or any portion of the SARs that have become vested
and that have not been cancelled under Paragraphs 2 and 3 by (i) providing
notice of exercise to the Company (in a form acceptable to the Company)
specifying the whole number of SARs being exercised.

          b. After receiving proper notice of exercise, the Company will issue
to the Participant (or the Participant's beneficiary) a lump sum cash payment in
an amount determined by multiplying (i) the total number of SARs being exercised
by the Participant, by (ii) the amount by which the Fair Market Value of a share
of Company common stock exceeds the Exercise Price, less any applicable
withholding taxes.

          c. Notwithstanding the foregoing, the SARs will not be exercisable if
and to the extent the Committee determines that such exercise would violate
applicable state or federal securities laws or the rules and regulations of any
securities exchange on which the Company common stock is then traded, or would
violate the laws of any foreign jurisdiction, and the exercise thereof may be
limited or delayed until such requirements are met.

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          d. The Company may retain the services of a third-party administrator
to effectuate SAR exercises and to perform other administrative services in
connection with the Plan. To the extent that the Company has retained such an
administrator, any reference to the Company shall be deemed to refer to such
third party administrator retained by the Company, and the Company may require
the Participant to exercise the Participant's SARs only through such third-party
administrator.

     5.   Withholding.

          The Company may deduct and withhold from any cash payable to the
Participant or may require the Participant to pay to the Company or otherwise
indemnify the Company to its satisfaction, such amount as may be required for
the purpose of satisfying the Company's obligation to withhold federal, state or
local taxes in connection with any exercise of the SARs.

     6.   Conditions on SAR Award.

          Notwithstanding anything herein to the contrary, the Committee may
cancel the SARs, and may refuse to deliver any payment for SARs with respect to
which the Participant (or the Participant's beneficiary) has tendered a notice
of exercise, if:

          a. During the period from the date of the Participant's termination of
employment from the Company to the date such payment is delivered to the
Participant (or the Participant's beneficiary), the Committee determines that
the Participant has either (i) refused to be available, upon request, at
reasonable times and upon a reasonable basis, to consult with, supply
information to and otherwise cooperate with the Company with respect to any
matter that was handled by the Participant or under the Participant's
supervision while the Participant was in the employ of the Company or (ii)
engaged in any activity that is directly or indirectly in competition with any
activity of the Company; or

          b. The Committee determines that the Participant, at any time (whether
before or after employment with the Company, and whether before or after the
grant of this Option), acted in any manner detrimental to the best interests of
the Company.

     7.   Nontransferability.

          Except as provided in Paragraph 8 of this Agreement, the Participant
has no rights to sell, assign, transfer, pledge, or otherwise alienate the SARs
awarded under this Agreement, and any such attempted sale, assignment, transfer,
pledge or other conveyance will be null and void. The SARs will be exercisable
during the Participant's lifetime only by the Participant (or the Participant's
legal representative).

     8.   Beneficiary.

          The Participant may designate a beneficiary to exercise the SARs after
the Participant's death on the form or in the manner prescribed for such purpose
by the Committee. Absent such designation, the Participant's beneficiary will be
the Participant's estate. The Participant may from time to time revoke or change
the Participant's beneficiary designation without the

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consent of any prior beneficiary by filing a new designation with the Company.
If a Participant designates his or her spouse as beneficiary, such designation
automatically shall become null and void on the date of the Participant's
divorce or legal separation from such spouse. The last such designation received
by the Company will be controlling; provided, however, that no designation, or
change or revocation thereof, will be effective unless received by the Company
prior to the Participant's death, and in no event will any designation be
effective as of a date prior to such receipt. If the Committee is in doubt as to
the identity of the beneficiary, the Company may refuse to recognize such
exercise, without liability for any interest, until the Committee determines the
identity of the beneficiary, or the Committee may deem the Participant's estate
as beneficiary, or the Company may apply to any court of appropriate
jurisdiction and such application will be a complete discharge of the liability
of the Company therefor.

     9.   Securities Law Restrictions.

          Notwithstanding anything herein to the contrary, the Committee, in its
sole and absolute discretion, may refuse to honor any notice of exercise, may
delay an exercise or delay issuing payment following an exercise, may impose
additional limitations on the Participant's or beneficiary's ability to exercise
the SAR or receive payment upon exercise, if the Committee determines that such
action is necessary or desirable for compliance with any applicable state,
federal or foreign law, the requirements of any stock exchange on which the
Company common stock is then traded, or is requested by the Company or the
underwriters managing any underwritten offering of the Company's securities
pursuant to an effective registration statement filed under the Act.

     10.  Limited Interest.

          a. The grant of the SARS shall not be construed as giving the
Participant any interest other than as provided in this Agreement.

          b. The Participant shall have no rights as a shareholder as a result
of the grant or exercise of the SARs.

          c. The grant of the SARs shall not confer on the Participant any right
to continue as an employee or continue in service of the Company, nor interfere
in any way with the right of the Company to terminate the Participant at any
time.

          d. The grant of the SARs shall not affect in any way the right or
power of the Company to make or authorize any or all adjustments,
recapitalizations, reorganizations, or other changes in the Company's capital
structure or its business, or any merger, consolidation or business combination
of the Company, or any issuance or modification of any term, condition, or
covenant of any bond, debenture, debt, preferred stock or other instrument ahead
of or affecting the stock or the rights of the holders thereof, or the
dissolution or liquidation of the Company, or any sale or transfer of all or any
part of its assets or business or any other Company act or proceeding, whether
of a similar character or otherwise.

          e. The Participant acknowledges and agrees that the Plan is
discretionary in nature and limited in duration, and may be amended, cancelled,
or terminated by the Company,

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<PAGE>

in its sole discretion, at any time. The grant of the SARs under the Plan is a
one-time benefit and does not create any contractual or other right to receive a
grant of SARs or benefits in lieu of SARs in the future. Future grants, if any,
will be at the sole discretion of the Committee, including, but not limited to,
the timing of any grant, the number of SARs, vesting provisions, and the
exercise price.

     11.  Consent to Transfer of Personal Data.

          The Participant voluntarily acknowledges and consents to the
collection, use, processing and transfer of personal data as described in this
paragraph. The Participant is not obliged to consent to such collection, use,
processing and transfer of personal data. However, failure to provide the
consent may affect the Participant's ability to participate in the Plan. The
Company holds certain personal information about the Participant, including the
Participant's name, home address and telephone number, date of birth, social
security number or other employee identification number, salary, nationality,
job title, any shares of stock or directorships held in the Company, details of
all awards, options or any other entitlement to shares of stock awarded,
canceled, purchased, vested, unvested or outstanding in the Participant's favor,
for the purpose of managing and administering the Plan ("Data"). The Company
and/or its subsidiaries will transfer Data amongst themselves as necessary for
the purpose of implementation, administration and management of the
Participant's participation in the Plan, and the Company may further transfer
Data to any third parties assisting the Company in the implementation,
administration and management of the Plan. These recipients may be located in
the European Economic Area, or elsewhere throughout the world, such as the
United States. The Participant authorizes them to receive, possess, use, retain
and transfer the Data, in electronic or other form, for the purposes of
implementing, administering and managing the Participant's participation in the
Plan, including any requisite transfer of such Data as may be required for the
administration of the Plan and/or the subsequent holding of shares of stock on
the Participant's behalf to a broker or other third party with whom the
Participant may elect to deposit any shares of stock acquired pursuant to the
Plan. The Participant may, at any time, review Data, require any necessary
amendments to it or withdraw the consents herein in writing by contacting the
Company; however, withdrawing consent may affect Participant's ability to
participate in the Plan.

     12.  Incorporation by Reference.

          The terms of the Plan are expressly incorporated herein by reference.
Capitalized terms that are not defined in this Agreement will have the meaning
ascribed to them under the Plan. In the event of any conflict between this
Agreement and the Plan, the Plan shall govern.

     13.  Governing Law.

          This Agreement shall be governed by and construed in accordance with
the laws of the State of Delaware, without reference to any conflict of laws
principles thereof.

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     14.  Severability.

          In the event any term or condition set forth in this Agreement is held
illegal or invalid for any reason, the illegality or invalidity will not affect
the remaining provisions of the Agreement, and the Agreement shall be construed
and enforced as if the illegal or invalid provision had not been inserted.

     15.  Amendment.

          The terms and conditions set forth in this Agreement may not be
amended, modified, terminated or otherwise altered except by the written consent
of the parties thereto.

     16.  Counterparts.

          This Agreement may be executed in one or more counterparts, each of
which will be deemed to be an original but all of which together will constitute
one and the same instrument.

                                       7exv10w2

 

EXHIBIT 10.2

TREEHOUSE FOODS, INC.

Performance-Vesting Restricted Stock Award Agreement

	 	 	 
	TO:

	 	Dennis Riordan
	 
	 	 
	DATE:

	 	January 30, 2007

In order to provide additional incentive through stock ownership for certain officers, key
employees and non-employee directors of TreeHouse Foods, Inc. (the “Company”) and its subsidiaries,
you are hereby granted performance-vesting restricted stock by the Company, effective as of the
date hereof (the “date of grant”). This restricted stock award is issued under the TreeHouse Foods,
Inc. 2005 Long-Term Stock Incentive Plan (the “Plan”), the terms of which are incorporated herein
by reference. All capitalized terms used but not defined herein shall have the meaning ascribed to
such terms in the Plan.

RESTRICTED STOCK

	 	 	 	 	 
	 

	 	Total number of
shares granted
	 	12,000 (“Shares”)
	 
	 	 	 	 
	VESTING SCHEDULE	 	 
	 
	 	 	 	 
	 

	 	Grant date
	 	January 30, 2007
	 
	 	 	 	 
	 

	 	Vesting schedule
	 	The Shares will vest if the total shareholder return
(“TSR”) objectives described in the attached terms are
met, or a Change in Control occurs, on or before January
31, 2010.
	 
	 	 	 	 
	TRANSFER RESTRICTIONS; ISSUANCE OF SHARES
	 
	 	 	 	 
	 

	 	Restrictions
	 	Until vested, the Shares may not be sold, transferred,
pledged, assigned or otherwise alienated or hypothecated.
	 
	 	 	 	 
	 

	 	Book Entry
	 	The Company’s stock transfer agent will establish a book
entry account representing the Shares in your name, effective
as of the date of grant. The Company will retain control of
the book entry account until the Shares are vested.

This Performance-Vesting Restricted Stock Award Agreement, including the accompanying Terms of the
January 2007 Performance-Vesting Restricted Stock Awards, constitutes part of a prospectus
covering securities that have been registered under the Securities Act of 1933, as amended.

 

 

TreeHouse Foods, Inc.

Terms of the January 2007 Performance-Vesting Restricted Stock

	 	 	 
	Type(s) of Award:

	 	Performance-vesting restricted stock (“Shares”).
Until vested, the Shares may not be sold,
transferred, pledged, assigned or otherwise
allocated or hypothecated. Upon vesting, the
Shares will be freely transferable.
The number of Shares represented by this Award
will be adjusted by the Committee in the event of
a change in capitalization or other event
described in Section 4(d) of the Plan.
	 
	 	 
	Vesting:

	 	Subject to earlier termination, cancellation and
forfeiture as set forth below, the Shares will
vest upon achievement of TSR objectives determined
in accordance with Schedules A hereto or a Change
in Control, in either case, on or prior to January
31, 2010.
	 
	 	 
	Effect of Termination
of Employment

	 	Except as provided below for termination due to
death or disability, or involuntary termination by
the Company, no vesting will occur after
termination of employment, in which case all
unvested Shares will be forfeited and/or
cancelled.
	 
	 	 
	 

	 	•      In the event of termination of employment
due to death or permanent disability, the unvested
Shares will continue to vest as if such
termination of employment did not occur.

	 
	 	 
	 

	 	•      In the event of involuntary termination of
employment by the Company other than for Cause or
resignation for Good Reason at a time when Sam
Reed is not acting as the CEO of the Company, the
unvested Shares will continue to vest as if such
termination of employment did not occur.

	 
	 	 
	 

	 	•      In the event of involuntary termination of
employment by the Company other than for Cause or
resignation for Good Reason while Sam Reed is
acting as CEO of the Company, the following
additional portion of the Shares will continue to
vest on the same basis as would have applied had
employment not terminated: (x) any portion of the
Shares that had not become vested as of the
termination date solely because the performance
criteria applicable thereto had not yet been
satisfied (i.e., any portion thereof as to which
the applicable January 31 has passed before the
date Executive’s employment terminated), (y) the
portion of each such award that could become
vested on the next following anniversary of the
date on which it was granted had Executive
continued to have been employed and (z) the
portion of each such award, if any, that could
become vested on the second following anniversary
of the grant date of such award had Executive
continued to have been employed, multiplied by a
proration fraction. The proration fraction shall
be the fraction the numerator of which is the
number of days employed since the last anniversary
of such grant date through (and including) the
termination date and the denominator of which is
365.

	 
	 	 
	 

	 	For purposes of the foregoing, “Cause” and “Good
Reason” shall have the meanings set forth in the
Company’s Executive Severance Plan as in effect on
the date of grant.
	 
	 	 
	Release of Shares:

	 	Subject to applicable tax withholding (see below),
the Shares will become freely transferable upon
vesting.
	 
	 	 

 

 

	 	 	 
	Federal Income Tax
Considerations:

	 	The following discussion is a summary of certain
current U.S. federal income tax consequences
relating to the restricted stock award. This
discussion does not purport to be complete, and
does not cover, among other things, foreign, state
and local tax treatment.
	 
	 	 
	 

	 	No income is recognized upon receipt of the award
of Shares. Upon vesting of the Shares, net income
equal to the fair market value of Shares is
recognized. However, if you make a Code Section
83(b) election within 30 days of the grant of the
Shares, you will recognize ordinary income equal
to the fair market value of the Shares at the date
of the grant. The capital gain or loss holding
period for the Shares will begin when ordinary
income is recognized, and any subsequent capital
gain or loss will be measured by the difference
between the ordinary income recognized and the
amount received upon sale or exchange of the
shares.
	 
	 	 
	 

	 	Payroll taxes (Social Security and Medicare taxes)
will be due upon vesting of the Shares, or earlier
if an 83(b) election is made, based upon the fair
market value of the Shares at that time.
	 
	 	 
	Tax Withholding:

	 	Upon vesting, the Company will deduct and withheld
from Shares to be delivered, such aggregate number
of Shares having a fair market value equal to the
amount sufficient to satisfy the minimum statutory
Federal, state and local tax (including any Social
Security and Medicare tax obligation to the extent
such Shares were not previously subjected to such
taxes) withholding required by law with respect to
the Shares. The Committee may permit the
remittance of cash or for other arrangements for
payment of such taxes. If you file an 83(b)
election, you will be required to remit cash to
the Company to satisfy applicable withholding
taxes.

2

 

	 	 	 
	Shareholder Rights:

	 	You are deemed to be the owner of the Shares for
purposes of exercising voting rights and receiving any
cash dividends paid or made available on the Shares;
stock dividends will become part of the Shares subject
to the vesting and forfeiture provisions discussed
above.

Please sign the copy of this Performance-Vesting Restricted Stock Award Agreement and return it to
the Company in care of its Secretary, thereby indicating your understanding of and agreement with
the terms and conditions of this Agreement. Unless signed and returned by mail or otherwise within
thirty (30) days from the date of mailing or delivery to you of this Agreement, this Award will be
deemed refused and withdrawn. By signing this Agreement, you acknowledge receipt of a copy of the
Plan. The terms of the Plan shall have precedence over any terms in this Agreement that are
inconsistent therewith.

	 	 	 	 	 	 	 	 	 
	TREEHOUSE

	 	FOODS, INC.
	 	 	 	Acknowledged and agreed:	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/Sam K. Reed/
 

	 	 
	 	/Dennis F. Riordan/
 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Date: 2/1/07	 	 

3

 

Schedule A to Performance-Vesting Restricted Stock Award

On January 31, 2008, all of the Shares shall vest, provided that the Company’s Total Shareholder
Return for the period commencing on June 27, 2005, the first day of regular way trading for the
Company’s common stock (the “Commencement Date”), and ending on such January
31st equals or exceeds the median of the Total Shareholder Return for such period for
the companies in the Selected Peer Group (as defined below).

In addition, on each of January 31, 2009 and January 31, 2010, the Shares that could have vested,
but that did not vest, on the preceding January 31st shall vest on such subsequent date
if the Company’s Total Shareholder Return for the period from the Commencement Date through the
applicable January 31st shall equal or exceed the median of the Total Shareholder Return
for such period for the companies in the Selected Peer Group.

As used herein, “Total Shareholder Return” shall mean the percentage return received by all
shareholders of the relevant company during the applicable measurement period, including stock
price appreciation and dividends, and shall be calculated as follows:

Ending Stock Price (1) – Beginning Stock Price (2) + Dividend Reinvestment (3)

Beginning Stock Price (2)

	 	(1)	 	With respect to each of the Company and each company
in the Selected Peer Group, the average of the closing prices of
its common stock for the 20 consecutive trading day period ending
on the applicable January 31st (or if the applicable January 31 is
not a trading date, the immediately preceding trading date).
	 
	 	(2)	 	With respect to each of the Company and each company
in the Selected Peer Group, the closing price of its common stock
on the Commencement Date.
	 
	 	(3)	 	Assumes any dividends paid on the common stock of the
Company or any company in the Selected Peer Group are used to
purchase its common stock at the closing stock price on the date
that such dividends are payable, and includes the value of such
additional shares of such common stock (based on the Ending Stock
Price for such common stock).

     As used herein, “Selected Peer Group” shall mean the 20 or more companies selected by
the Board of Directors of the Company (or any authorized committee thereof) from among packaged
food companies whose securities are registered to trade on a U.S. national securities exchange or
automated quotation system (including, but not limited to NASDAQ) (the “Peer Companies”);
provided that in no event shall any Ineligible Company be selected to be a member of the Selected
Peer Group. An “Ineligible Company” shall mean any Peer Company (i) in which
significant portion of its voting securities is held by another corporate entity (other than an
open-ended investment company); (ii) has filed for protection under the Federal bankruptcy
law or any similar law, (iii) which is not organized, based and majority-owned in the
United States, (iv) is party to any agreement the consummation of which would cause such
Peer Company to cease to be publicly traded (or be described in subclause (i) or (iii)), or
(v) which has announced an intention to be sold or cease to be publicly traded or to take
actions which would cause it to be described in subclause (i) or (iii). To the extent that any
Peer Company initially selected as part of the Selected Peer Group with respect to a measurement
period shall become an Ineligible Company prior to the end of such period, such company shall be
excluded from the Selected Peer Group for such period. The Selected Peer Group will be reviewed
annually to determine whether any of its members shall have become Ineligible Companies. As of
January 30, 2007, the Selected Peer Group is comprised of the following Peer Companies:

A-1

 

 

	 	 	 
	Kraft Foods, Inc.

	 	Sara Lee Corp.
	 
	 	 
	General Mils, Inc.

	 	Kellogg Co.
	 
	 	 
	ConAgra Foods Inc.

	 	Archer Daniels Midland Co.
	 
	 	 
	H.J. Heinz Company

	 	Campbell Soup Co.
	 
	 	 
	McCormick & Co Inc.

	 	The JM Smucker Co.
	 
	 	 
	Del Monte Foods Co.

	 	Corn Products Int’l
	 
	 	 
	Lancaster Colony Corp

	 	Flower Foods Inc.
	 
	 	 
	Ralcorp Holdings Inc.

	 	The Hain Celestial Group, Inc.
	 
	 	 
	Lance, Inc.

	 	J&J Snack Foods Corp
	 
	 	 
	B&G Foods Inc.

	 	American Italian Pasta Co.
	 
	 	 
	Farmer Bros, Inc.

	 	Peet’s Coffee and Tea

A-2

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