Document:

CAG-5.25-2014-10K Ex10.19

Exhibit 10.19

Amendment to Stock Option Agreements

This Amendment to Stock Option Agreements, hereinafter referred to as the "Amendment" or the "Agreement," is made on this 14th day of March, 2014, between ConAgra Foods, Inc., a Delaware corporation ("ConAgra Foods"), and Brian Keck (the "Retiree").  ConAgra Foods and Retiree agree as follows:

		
	1.
	Retiree has advised ConAgra Foods of his intent and desire to retire from and cease employment with ConAgra Foods following a transition of his present duties in connection with the start of Fiscal Year 2015 on the later of August 1, 2014 or, if the Human Resources Committee of the Board of Directors authorizes a payout under the Fiscal 2012- 2014 cycle of the Performance Share Plan (the "PSP"), the second business day following the release of shares under the PSP (the "Special Retirement").  Following the start of Fiscal Year 2015 and through the date of the Special Retirement, Retiree will remain a direct report of the Chief Executive Officer and perform activities as directed by the Chief Executive Officer.  Retiree acknowledges that he will cease to be an executive officer of ConAgra Foods as of the end of Fiscal Year 2014, that in light of his desire to retire, he will be ineligible for an equity grant in July 2014 and that nothing described in this Agreement shall constitute "Good Reason" as that term is defined in Retiree's sign-on agreement or October 2010 Option (defined below). 

		
	2.
	As of the date hereof, ConAgra Foods and Retiree are parties to the following Stock Option Agreements pursuant to the ConAgra Foods 2009 Stock Plan (the “Plan”).  Capitalized but undefined terms have the meanings set forth in the Option Agreements or the Plan. 

	
			
	Agreement
	Total Options Covered By Such Agreement (Note: Vested Options May be Less)
	Defined Term for Purposes of this Amendment

	Stock Option Agreement for Employees dated October 1, 2010
	160,000
	“October 2010 Option”

	Stock Option Agreement for Employees dated July 11, 2011
	160,000
	“July 2011 Option”

	Stock Option Agreement for Employees dated July 16, 2012
	160,000
	“July 2012 Option”

	Stock Option Agreement for Employees dated July 15, 2013
	139,632
	“July 2013 Option”

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	3.
	In recognition of Retiree's past service to ConAgra Foods, the Human Resources Committee of the Board of Directors has determined to approve Retiree's Special Retirement and the following changes to the October 2010 Option, the July 2011 Option, the July 2012 Option and the July 2013 Option (collectively, the "Retiree's Options").

		
	a.
	Paragraph 2 of the October 2010 Option is hereby amended to add a new paragraph (f) as follows:

"f. 'Special Retirement' means Optionee's  cessation of employment with  
ConAgra Foods with the approval of the Committee on the later of August 
1, 2014 or, if the Human Resources Committee of the Board of Directors  
authorizes a payout under the Fiscal 2012-2014 cycle of the Performance 
Share Plan (the "PSP"), the second business day following the release of  
shares under the PSP."

		
	b.
	Paragraph 2 of the July 2011 Option, the July 2012 Option and the July 2013 Option is hereby amended to add a new paragraph (d) as follows:

"d. 'Special Retirement' means Optionee's  cessation of employment with 
ConAgra Foods with the approval of the Committee on the later of August 
1, 2014 or, if the Human Resources Committee of the Board of Directors  
authorizes a payout under the Fiscal 2012- 2014 cycle of the Performance  
Share Plan (the "PSP"), the second business day following the release of  
shares under the PSP."

		
	c.
	Paragraph 3(b) of each of Retiree's Options is hereby amended and restated in its entirety to read as follows:

"Right to Exercise.  This Option shall be exercisable until and through the Expiration Date of the Option, by the Optionee (provided that in no event shall any provision of this Section 3(b) extend the term of the Option beyond the Expiration Date set forth on the first page):

		
	(i)
	while the Optionee is in Continuous Employment;

		
	(ii)
	for a period ending 90 days after the Optionee's Continuous Employment terminates for any reason other than Early Retirement, Normal Retirement, Special Retirement, death or involuntary termination due to disability.  This Option may be exercised as to the portion of the Option that is vested at the time termination of employment occurs;

		
	(iii)
	for a period ending three (3) years after the Optionee's termination due to disability (as defined in the Company's sole discretion); however, the Company, at the sole and absolute discretion of the Committee, may shorten or eliminate such period.  The Option may be exercised as to the 

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portion of the Option that is vested at the time involuntary termination due to disability, occurs;

		
	(iv)
	for a period ending three (3) years after Optionee's Special Retirement.  The Option may be exercised as to the portion of the Option that is vested at the time termination of employment occurs;

		
	(v)
	for a period of three (3) years after date of death (by the estate of the Optionee) if the Optionee should die while in Continuous Employment."

CONAGRA FOODS, INC.
By:      /s/ Colleen Batcheler                                                                                

Its:      EVP, General Counsel & Corporate Secretary                                        

Date:      3/17/2014                                                                                                  

RETIREE
By:      /s/ Brian L. Keck                                                                                       

Date:      3/14/2014                                                                                                  

3CAG-5.25-2014-10K Ex 10.21

Exhibit 10.21

Non-Employee Director Compensation Program for the 
2014 Plan Year

The following compensation program is available to non-employee directors for the plan year that runs from the first day of fiscal 2014 to the last day of fiscal 2014 (the “2014 Plan Year”).
Retainers and Fees for Non-Employee Directors Other than the Chairman: 
		
	•
	An annual Board membership retainer of $90,000 shall be paid to each non-employee director (other than the Chairman of the Board).  

		
	◦
	Payments for the 2014 Plan Year will be made in advance in four equal installments to non-employee directors serving on the first trading day of each of the following months:  June 2013, September 2013, December 2013, and March 2014.

		
	◦
	The first trading day of each of June 2013, September 2013, December 2013, and March 2014, is referred to herein as a “Payable Date”.  

		
	•
	An annual Committee Chair retainer of $15,000 shall be paid to the Chair of each standing committee (other than the Executive Committee).  

		
	o
	Payments for the 2014 Plan Year will be made in advance in four equal installments to non-employee directors serving on each applicable Payable Date. 

		
	•
	In the event that a director’s attendance is required at more than 24 Board and committee meetings during the 2014 Plan Year, meeting fees in the amount of $1,500 shall be paid to each non-employee director (other than the Chairman) for each Board and committee meeting attended and at which a director’s attendance was required in excess of 24 meetings for such Plan Year; fees will be aggregated and payment will be made in arrears on the applicable Payable Date.  

		
	•
	Directors who join the Board or who are elected to a Chairmanship after the start of a quarter will receive a prorated retainer for that quarter based on the actual number of days served.  The prorated quarterly payment will be paid on the next Payable Date, along with the installment due on that date.  

Equity Awards for Non-Employee Directors Other than the Chairman:
		
	•
	Each non-employee director (other than the Chairman of the Board) shall receive a grant of restricted stock units (the “RSUs”) with a value equal to $140,000 for each plan year in which she or he serves.  The number of RSUs granted shall be equivalent to $140,000 divided by the average of the closing stock price of ConAgra Foods, Inc. 

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common stock on the NYSE for the thirty (30) trading days prior to (and not including) the date of grant and rounding to the nearest share.  The RSUs will be granted upon the terms and conditions approved by the Board and consistent with the ConAgra Foods 2009 Stock Plan.
		
	◦
	The grant date for the 2014 Plan Year shall be May 28, 2013, the first trading day of fiscal 2014.

Chairman’s Compensation:

		
	•
	For the 2014 Plan Year, in lieu of the cash and equity compensation described above and payable to other non-employee directors, the Chairman shall receive a grant of RSUs with a value equal to $400,000.  The number of RSUs granted shall be equivalent to $400,000 divided by the average of the closing stock price of ConAgra Foods, Inc. common stock on the NYSE for the thirty (30) trading days prior to (and not including) the date of grant and rounding to the nearest share.  The RSUs will be granted upon the terms and conditions approved by the Board and consistent with the ConAgra Foods 2009 Stock Plan.  The grant date for the 2014 Plan Year shall be May 28, 2013, the first trading day of fiscal 2014.

RSU Terms
		
	•
	Director RSUs will vest one year from the date of grant (100%), subject to continued service during the entire term.  Vesting will be accelerated in the event of death or permanent disability or, in the event the director is no longer serving one year from the date of grant (as a director or in the Chairman role), vesting will be prorated 25% for each fiscal quarter during which the director served on the first day of the fiscal quarter.  Should a director be newly appointed after the annual equity grant is made, then a prorata portion of the Board’s annual equity grant will be granted in connection with appointment based on the number of months remaining for the applicable Plan Year.

Other Programs:  The following additional programs are available.
		
	•
	Non-Employee Directors’ Medical Plan:  Non-employee directors are eligible to participate in the medical plan in accordance with the plan’s terms, with premiums paid by the directors.  

		
	•
	Directors’ Deferred Compensation Plan:  Non-employee directors may elect to defer payment of their cash or stock compensation into the non-qualified deferred compensation plan for non-employee directors in accordance with the plan’s terms.

		
	•
	ConAgra Foods Matching Gifts Program: ConAgra Foods will match up to $10,000 of each non-employee director’s gift(s) to eligible charitable organization(s) during the 2014 Plan Year.  

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Directors’ Charitable Award Program: Directors first elected to the Board prior to 2003 continue to have grandfathered participation in the Directors’ Charitable Award Program (which was discontinued in 2003).

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