Document:

EX-10.2

UNITED STATES OF AMERICA

BEFORE THE

BOARD OF GOBERNORS OF THE FEDERAL RESERVE SYSTEM

WASHINGTON, DC

Written Agreement by and between

Docket No. 121-WA/RB-HC

FIRST BANCORP

San Juan, Puerto Rico

and

FEDERAL RESERVE BANK OF

NEW YORK

WHEREAS, First BanCorp, San Juan, Puerto Rico (“FB”), a registered bank holding company, owns
and controls FirstBank, Puerto Rico, San Juan, Puerto Rico (the “Bank”), a state chartered
nonmember bank, and various nonbank subsidiaries;

WHEREAS, it is the common goal of FB and the Federal Reserve Bank of New York (the “Reserve
Bank”) to maintain the financial soundness of FB so that FB may serve as a source of strength to
the Bank;

WHEREAS, FB and the Reserve Bank have mutually agreed to enter into this Written Agreement
(the “Agreement”); and

WHEREAS, on June 3, 2010, the board of directors of FB at a duly constituted meeting, adopted
a resolution authorizing and directing Mr. Aurelio Alemán, CEO and President, to enter into this
Agreement of behalf of FB, and consenting to compliance with each and every provision of this
Agreement by FB and its institution-affiliated parties, as defined in sections 3(u) and 8(b)(3) of
the Federal Deposit Insurance Act, as amended (the “FDI Act”) (12 U.S.C. ) § §§1813(u) and
1818(b)(3)).

NOW, THEREFORE, FB and the Reserve bank agree as follows:

Source of Strength

	 	1.	 	The board of directors of FB shall take appropriate steps to fully utilize
FB’s financial and managerial resources, pursuant to section 225.4(a) of Regulation Y
of the Board of Governors of the Federal Reserve System (the “Board of Governors”) (12
C.F.R. §225.4(a)), to serve as a source of strength to the Bank, including, but not
limited to, taking steps to ensure that the Bank complies with the consent order
entered into with the Federal Deposit Insurance Corporation on June 1, 2010 and any
other supervisory action taken by the Bank’s federal or state regulator.

Dividends and Distributions

2. (a) FB shall not declare or pay any dividends without the prior            written
approval of the Reserve Bank and the Director of the Division of Banking Supervision and
Regulation (the “Director”) of the Board of Governors of the Federal Reserve System (the
“Board of Governors”).

(b) FB shall not directly or indirectly take dividends or any other form of
payment representing a reduction in capital from the Bank without the prior written
approval of the Reserve Bank.

(c) FB and its nonbank subsidiaries shall not make any distributions of
interest, principal, or other sums on subordinated debentures or trust preferred
securities without the prior written approval of the Reserve Bank and the Director.

	 	(d)	 	All requests for prior approval shall be received by the
Reserve Bank at least 30 days prior to the proposed dividend declaration date,
proposed distribution on subordinated debentures, and required notice of
deferral on trust preferred securities. All requests shall contain, at a
minimum, current and projected information of FB’s capital, earnings, and cash
flow; the Bank’s capital, asset quality, earnings, and allowance for loan and
lease losses; and identification of the sources of funds for the proposed
payment or distribution. For requests to declare or pay dividends, FB must
also demonstrate that the requested declaration or payment of dividends is
consistent with the Board of Governor’s Policy Statement on the Payment of
Cash Dividends by State Member Banks and Bank Holding Companies, dated
November 14, 1985 (Federal Reserve Regulatory Service, 4-877 at page 4-323).

Debt and Stock Redemption

3. (a) FB and any nonbank subsidiary shall not, directly or            indirectly,
incur, increase, or guarantee any debt without the prior written approval if the
Reserve Bank. All requests for prior written approval shall contain, but not be
limited to, a statement regarding the purpose of the debt, the terms of the debt,
and the planned source(s) for debt repayment, and an analysis of the cash flow
resources available to meet such debt repayment.

	 	(b)	 	FB shall not, directly or indirectly,
purchase or redeem any shares of its stock without the prior written
approval of the Reserve Bank.

Capital Plan

	 	4.	 	Within 30 days of this Agreement, FB shall submit to the Reserve Bank an
acceptable written plan to maintain sufficient capital at FB on a consolidated basis.
The plan shall, at a minimum, address, consider, and include:

	 	(a)	 	The consolidated organization’s and the
Bank’s current and future capital requirements, including
compliance with the Capital Adequacy Guidelines for Bank Holding
Companies: Risk-Based Measure and Tier 1 Leverage Measure,
Appendices A and D of regulation Y of the Board of Governors (12
C.F.R. Part 225, App. A and D) and the applicable capital adequacy
guidelines for the Bank issued by the Bank’s federal regulator;

	 	(b)	 	The adequacy of the Bank’s capital,
taking into account the volume of classified credits,
concentrations of credit, allowance for loan and lease losses,
current and projected asset growth, and projected retained
earnings;

	 	(c)	 	The source and timing of additional
funds necessary to fulfill the consolidated organization’s and the
Bank’s future capital requirements;

	 	(d)	 	Supervisory requests for additional
capital at the Bank or the requirements of any supervisory action
imposed on the Bank by its federal regulators; and

	 	(e)	 	The requirements of section 225.4(a) of
Regulation Y of the Board of Governors (12 C.F.R. § 225.4(a)) that
FB serve as a source of strength to the Bank.

	 	5.	 	FB shall notify the Reserve Bank, in writing, no more than 30 days after the
end of any quarter in which any of FB’s capital ratios fall below the approved plan’s
minimum ratios. Together with the notification, FB shall submit an acceptable written
plan that details the steps that FB will take to increase FB’s capital ratios to or
above the approved plan’s minimums.

Compliance with Laws and Regulations

	 	6.	 	(a) In appointing any new director or senior executive officer, or changing
the responsibilities of any senior executive officer so that the officer would assume
a different senior executive officer position, FB shall comply with the notice
provisions of section 32 of the FDI Act (12 U.S.C. § 1831i) and Subpart H of
Regulation Y of the Board of Governors (12 C.F.R. §§225.71 et seq.).

	 	(b)	 	FB shall comply with the restrictions on
indemnification and severance payments of section 18(k) of the FDI Act
(12 U.S.C. § 1828(k)) and Part 359 of the Federal Deposit Insurance
Corporation’s regulations (12 C.F.R. Part 359).

Progress Reports

	 	7.	 	Within 45 days after the end of each calendar quarter following the date of
this Agreement, the board of directors shall submit to the Reserve Bank written
progress reports detailing the form and manner of all actions taken to secure
compliance with the provisions of this Agreement and the results thereof, and a parent
company only balance sheet, income statement, and, as applicable, report of changes in
stockholders’ equity.

Approval and Implementation of Plans

8. (a) FB shall submit a written capital plan that is acceptable to the Reserve Bank
within the applicable time period set forth in paragraph 4 of this Agreement.

(b) Within 30 days of approval by the Reserve Bank, FB shall adopt the
approved capital plan. Upon adoption, FB shall promptly implement the approved
plan, and thereafter fully comply with it.

(c) During the term of this Agreement, the approved capital plan shall not be
amended or rescinded without the prior written approval of the Reserve Bank.

9. All communications regarding this Agreement shall be sent to:

Mr. Meinrad Danzer

Examining Officer

Regional Team Leader

Federal Reserve Bank of New York

33 Liberty Street, Attention 33 ML, 20th Floor

New York, New York 10045-0001

	 	(a)	 	Mr. Aurelio Alemán

President and Chief Executive Officer

First BanCorp

1519 Ponce de León Avenue

San Juan, Puerto Rico 00908-0146

Miscellaneous

	 	10.	 	Notwithstanding any provision of this Agreement, the Reserve Bank may, in its
sole discretion, grant written extensions of time to FB to comply with any provision
of this Agreement.

	 	11.	 	The provisions of this Agreement shall be binding upon FB and its
institution-affiliated parties, in their capacities as such, and their successors and
assigns.

	 	12.	 	Each provision of this Agreement shall remain effective and enforceable until
stayed, modified, terminated, or suspended in writing by the Reserve Bank.

	 	13.	 	The provisions of this Agreement shall not bar, estop, or otherwise prevent
the Board of Governors, the Reserve Bank, or any other federal or state agency from
taking any other action affecting FB, the Bank, any nonbank subsidiary of FB, or any
of their current or former institution-affiliated parties and their successors and
assigns.

	 	 	 	14.

1

Pursuant to section 50 of the FDI Act (12 U.S.C. § 1831 aa), this Agreement is
enforceable by the Board of Governors under section 8 of the FDI Act (12 U.S.C.
§1818).

IN WITNESS WHEREOF, the parties have caused this agreement to be executed as of the 3rd
day of June, 2010.

FIRST BANCORP FEDERAL RESERVE BAK

OF NEW YORK

	 	 	 
	By: /s/ Aurelio Alemán       

	 	By: /s/ John J. Ruocco      
	 

	Aurelio Alemán

President and Chief Executive

	 	John J. Ruocco

Assistant Vice President

Officer

2EX-10.1

Exhibit 10.1

Execution Version

Employment Agreement for Claude Lopez

The Scotts Company LLC

1

Contents

	 	 	 	 	 
	Article 1. Term of Employment
	 		1	
	Article 2. Definitions
	 		2	
	Article 3. Position and Responsibilities
	 		6	
	Article 4. Standard of Care
	 		6	
	Article 5. Compensation
	 		6	
	Article 6. Expenses
	 		7	
	Article 7. Employment Terminations
	 		7	
	Article 8. Assignment
	 		11	
	Article 9. Notice
	 		11	
	Article 10. Confidentiality, Noncompetition, and Nonsolicitation
	 		11	
	Article 11. Miscellaneous
	 		12	
	Article 12. Governing Law
	 		13	
	Article 13. Indemnification
	 		13	

2

The Scotts Company LLC

Employment Agreement for Claude Lopez

This EMPLOYMENT AGREEMENT (this “Agreement”) is entered into, as of May 28, 2010 (the
“Execution Date”), but is effective as of the first day of October 2010 (herein referred to as the
“Effective Date”), by and between The Scotts Company LLC (the “Company”), an Ohio limited liability
company, and Claude Lopez (the “Executive”). The Executive and the Company are each sometimes
referred to herein as a “Party” and collectively referred to herein as the “Parties.”

WHEREAS, the Executive is currently employed as the head of International Business with a
subsidiary of the Company, Scotts France SAS (“SFSAS”), and is a party to an employment agreement
with SFSAS, dated July 1, 2001 (the “Old Agreement”); and

WHEREAS, the Executive possesses considerable experience and an intimate knowledge of the
business, and, as such, the Executive has demonstrated unique qualifications to act in an executive
capacity for the Company, Scotts or any of their affiliates; and

WHEREAS, the Company desires to promote the Executive from his current role with SFAS, to a
new non-executive officer position as the President, Global Sales, located in the United States;
and

WHEREAS, the Executive desires to move to the United States and accept the position of
President, Global Sales at the Company; and

WHEREAS, Executive and the Company understand that this new position will require regular
travel outside of the United States;

WHEREAS, the Company and the Executive, therefore, want to enter into this Agreement to set
forth the terms of the Executive’s employment with the Company; and

WHEREAS, the Company and the Executive agree that this Agreement replaces and supersedes the
Old Agreement in its entirety; and

NOW THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements of
the Parties set forth in this Agreement, and of other good and valuable consideration the receipt
and sufficiency of which are hereby acknowledged, the Parties hereto, intending to be legally
bound, agree as follows:

Article 1. Term of Employment

As evidenced by the Executive’s signature below, the Executive hereby agrees that this
Agreement replaces and, therefore, supersedes the Old Agreement and the Executive further agrees
that he shall have no rights under the Old Agreement as of the Effective Date.

1.1 Term of Agreement. The Executive’s employment shall be governed by the terms and
conditions set forth in this Agreement during the Term. The initial term of this Agreement shall
commence on the Effective Date and shall continue until September 30, 2013, unless sooner
terminated by either Party as set forth below. The period commencing on the Effective Date and
ending on the date on which the term of this Agreement terminates is referred to herein as the
“Term.”

1.2 Renewal Terms. The Parties may negotiate in good faith to extend the Term for continued
employment with the Company or an affiliate. In the event that the Parties’ negotiation extends
beyond the initial Term, the Parties agree that the material terms of this Agreement shall continue
to govern during the negotiation period. If the Parties are unable to, or either Party decides not
to, negotiate such continued employment this Agreement shall expire at the end of the initial Term
or at the end of the negotiation period, if applicable. The “end of the negotiation period” shall
mean 14 calendar days after written notice is provided to the other party that he or it no longer
desires to negotiate. As a replacement for the Old Agreement and all obligations thereunder, if
this Agreement is not renewed or extended pursuant to this Section 1.2, or either party gives
notice he or it no longer desires to negotiate continued employment, such non-renewal will
constitute a termination without Cause and the Executive will be entitled to severance in
accordance with Article 7, as applicable.

1.3 Expiration. Unless this Agreement is extended as set forth in Section 1.2, this Agreement,
and the Executive’s employment with the Company, automatically expires at the end of the initial
Term (i.e., September 30, 2013). The last day of the Term shall be the Effective Date of
Termination. Nothing in this Amendment is intended to change any of the terms or conditions set
forth in any of the Executive’s award agreements that remain active on the Effective Date of
Termination. Notwithstanding anything contained herein to the contrary, this is employment at will
and nothing in this Agreement shall be construed as giving the Executive any right to be retained
in the employ of the Company, and the Executive specifically acknowledges that the Executive is
subject to discharge at any time by the Company with or without Cause (as defined in Section 2.7
below) and without compensation of any nature, except as provided in Article 7 below.

With the exception of the covenants referenced in Article 10 (which survive the termination of the
Executive’s employment), after any payments are made under Article 7, the Company and the Executive
shall have no further obligations under this Agreement. The Parties agree that except for any
payments made under Article 7, the Company has no further severance obligations to the Executive
and no additional severance (including accelerated vesting and/or settlement of equity-based
compensation except to the extent otherwise provided in the award agreement) will be payable in
connection with the Executive’s termination of employment under this Agreement.

Article 2. Definitions

	 	2.1	 	“Agreement” means this Employment Agreement for Claude Lopez effective as of October
1, 2010.

	 	2.2	 	“Annual Bonus Award” means the annual bonus to be paid to the Executive in accordance
with the terms of the annual bonus program(s) maintained by the Company, Scotts or any of
their affiliates in which the Executive is a participant.

	 	2.3	 	“Award Period” means the performance period applicable to Long-Term Incentive Awards
granted under the relevant Company long-term incentive plan.

	 	2.4	 	“Base Salary” means the salary of record paid to the Executive in United States
dollars as annual salary, pursuant to Section 5.1, excluding all other amounts received
including under incentive or other bonus plans, whether or not deferred.

	 	2.5	 	“Beneficiary” means the individuals or entities designated or deemed designated by
the Executive pursuant to Section 11.6 herein.

	 	2.6	 	“Board” or “Board of Directors” means the Board of Directors of Scotts.

	 	2.7	 	“Cause” means the Executive’s:

	 	(a)	 	Continued failure to substantially perform his duties with the Company,
Scotts or any of their affiliates after a written demand for substantial
performance is delivered to the Executive that specifically identifies the manner
in which the Company believes that the Executive has failed to substantially
perform his duties, and after the Executive has failed to resume substantial
performance of his duties on a continuous basis within thirty (30) calendar days of
receiving such demand; or

	 	(b)	 	Conviction of a felony; or

	 	(c)	 	Engagement in illegal conduct, an act of dishonesty, violation of
Scotts’ policies or other similar conduct, that in the Company’s sole discretion,
which shall be exercised in good faith, is injurious to the Company, Scotts or any
of their affiliates; or

	 	(d)	 	Material breach of any provision of this Agreement; provided, however,
that the Executive’s willful and material breach of Article 4 shall not constitute
“Cause” unless the Executive has first been provided with written notice detailing
such breach and a thirty (30) calendar day period to cure such breach; or

	 	(e)	 	Breach of Scotts’ code of business conduct or ethics as determined in
good faith by the Company; or

	 	(f)	 	Violation of Scotts’ insider-trading policies as determined in good
faith by the Company; or

	 	(g)	 	Material breach of Executive’s fiduciary duties to the Company, Scotts
or any of their affiliates as determined in good faith by the Company.

For purposes of determining Cause, no act or omission by the Executive shall be
considered “willful” unless it is done or omitted in bad faith or without reasonable
belief that the Executive’s action or omission was in the best interests of the Company.
Any act or failure to act based upon: (i) authority given pursuant to a resolution duly
adopted by the Board; or (ii) advice of counsel for the Company, shall be conclusively
presumed to be done or omitted to be done by the Executive in good faith and in the best
interests of the Company.

	 	2.8	 	“Change in Control” means the occurrence of any of the following events after the
Effective Date of this Agreement:

	 	(a)	 	Any “person” or “group” (as such terms are used in Sections 13(d) and
14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”))
other than Scotts, subsidiaries of Scotts, an employee benefit plan sponsored by
Scotts, or Hagedorn Partnership, L.P. or its successor or any party related to
Hagedorn Partnership, L.P. (as determined by the Board of Directors) becomes the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or
indirectly, of more than thirty percent (30%) of the combined voting stock of
Scotts;

	 	(b)	 	The shareholders of Scotts adopt or approve a definitive agreement or
series of related agreements for the merger or other business consolidation with
another person, the agreement(s) become effective and, immediately after giving
effect to the merger or consolidation, (i) less than fifty percent (50%) of the
total voting power of the outstanding voting stock of the surviving or resulting
person is then “beneficially owned” (within the meaning of Rule l3d-3 under the
Exchange Act) in the aggregate by (x) the shareholders of Scotts immediately prior
to such merger or consolidation, or (y) if a record date has been set to determine
the shareholders of Scotts entitled to vote with respect to such merger or
consolidation, the shareholders of Scotts as of such record date and (ii) any
“person” or “group” (as defined in Section 13(d)(3) and 14(d)(2) of the Exchange
Act) has become the direct or indirect “beneficial owner” (as defined in Rule l3d-3
under the Exchange Act) of more than fifty percent (50%) of the voting power of the
voting stock of the surviving or resulting person;

	 	(c)	 	Scotts, either individually or in conjunction with one or more of its
subsidiaries, sells, assigns, conveys, transfers, leases or otherwise disposes of,
or the subsidiaries sell, assign, convey, transfer, lease or otherwise dispose of,
all or substantially all of the properties and assets of Scotts and the
subsidiaries, taken as a whole (either in one transaction or a series of related
transactions), to any person (other than Scotts or a wholly owned subsidiary);

	 	(d)	 	For any reason, Hagedorn Partnership, L.P. or its successor or any
party related to Hagedorn Partnership, L.P. (as determined by the Board of
Directors) becomes the beneficial owner, as defined above, directly or indirectly,
of securities of Scotts representing more than forty-nine percent (49%) of the
combined voting power of Scotts’ then-outstanding voting securities; or

	 	(e)	 	The adoption or authorization by the shareholders of Scotts of a plan
providing for the liquidation or dissolution of Scotts.

	 	2.9	 	“Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time.
For purposes of this Agreement, references to sections of the Code shall be deemed to
include references to any applicable regulations thereunder and any successor or similar
provision.

	 	2.10	 	“Committee” means the Compensation and Organization Committee of the Board or a
subcommittee thereof, or any other committee designated by the Board to take any actions
referenced in this Agreement. The members of the Committee shall be appointed from time to
time by and shall serve at the discretion of the Board. If the Committee does not exist or
cannot function for any reason, the Board may take any action under this Agreement that
would otherwise be the responsibility of the Committee.

	 	2.11	 	“Company” means The Scotts Company LLC, an Ohio corporation, or any successor company
thereto as provided in Section 8.1 herein.

	 	2.12	 	“Director” means any individual who is a member of the Board of Directors of Scotts.

	 	2.13	 	“Disability” or “Disabled” means for all purposes of this Agreement, a consecutive
period of ninety (90) calendar days during which the Executive is unable to perform his
duties.

	 	2.14	 	“Effective Date” means October 1, 2010.

	 	2.15	 	“Effective Date of Termination” means the date on which a termination of the
Executive’s employment occurs. For purposes of this Agreement, references to a
“termination of employment” or any form thereof shall mean a “separation from service” as
defined under Section 409A of the Code.

	 	2.16	 	“Executive” means Claude Lopez.

	 	2.17	 	“Good Reason” means, without the Executive’s consent, the existence of one or more of
the following conditions:

	 	(a)	 	A material diminution in the Executive’s Base Salary or, without
Executive’s agreement in writing as set forth in Section 5.2, a material diminution
in Executive’s Annual Bonus Award opportunity (expressed as a percentage of his
Base Salary);

	 	(b)	 	A material change in the geographic location at which the Executive
must perform services; provided, however, that the Executive acknowledges that his
position shall be deemed to include global sales and travel worldwide and business
travel incident to his position shall not be deemed to constitute a material change
hereunder; or

	 	(c)	 	A material change in the Executive’s position such that it no longer
requires periodic travel to Europe as set forth in Article 3.

Notwithstanding the foregoing, (i) an event described in this Section 2.17 shall
constitute Good Reason only if the Company fails to cure such event within thirty (30)
days after receipt from the Executive of written notice of the event which constitutes
Good Reason and (ii) Good Reason shall cease to exist for an event on the ninetieth
(90th) day following the later of its occurrence or the Executive’s knowledge
thereof, unless the Executive has given the Company written notice of such event prior
to such date.

	 	2.18	 	“Long-Term Incentive Award” means the Long-Term Incentive Award to be paid to the
Executive in accordance with the Company’s Amended and Restated 2006 Long-Term Incentive
Plan as described in Section 5.3 herein.

	 	2.19	 	“Notice of Termination” means a written notice which shall indicate the specific
termination provision of Article 7 in this Agreement relied upon, and shall set forth in
reasonable detail the facts and circumstances claimed to provide a basis for termination
of the Executive’s employment under the provisions so indicated.

	 	2.20	 	“Prorated Annual Bonus Award” means, for any fiscal year, the Annual Bonus Award that
the Executive would have received had the Executive remained employed for the entire
fiscal year/performance period, but prorated based on the actual Base Salary paid to the
Executive during such fiscal year for services rendered through the Effective Date of
Termination.

	 	2.21	 	“Prorated Target Annual Bonus Award” means, for any fiscal year, the amount of money
determined by multiplying the Executive’s bonus target percentage with respect to his
Annual Bonus Award by the actual Base Salary paid to the Executive during such fiscal year
for services rendered through the Effective Date of Termination. For example, if the
Executive’s Base Salary is $100,000.00, but only $40,000.00 of the Base Salary was earned
for services rendered during the fiscal year through the Effective Date of Termination,
and the Executive’s bonus target percentage with respect to his Annual Bonus Award is 25%,
then the Executive’s Prorated Target Annual Bonus Award is $10,000.00.

	 	2.22	 	“Scotts” means The Scotts Miracle-Gro Company, an Ohio corporation.

	 	2.23	 	“Specified Executive” means a “specified employee” within the meaning of Treasury
Regulation §1.409A-1(i) and as determined under the Company’s policy for determining
specified employees.

	 	2.24	 	“Target Annual Bonus Award” means, for any fiscal year, the amount of money
determined by multiplying the Executive’s bonus target percentage with respect to his
Annual Bonus Award by the Executive’s then Base Salary. For example, if the Executive’s
Base Salary is $100,000.00 and the Executive’s bonus target percentage with respect to his
Annual Bonus Award is 25%, then the Executive’s Target Annual Bonus Award is $25,000.00.

Article 3. Position and Responsibilities

During the Term, the Executive agrees to serve in a non-executive officer role as the
President, Global Sales at the Company’s office in Marysville, Ohio. In this capacity, the
Executive shall report directly to the Executive Vice President, North America, or such other
executive officer as the Chief Executive Officer shall designate, and shall be responsible for
global consumer sales and shall perform such other duties and responsibilities as may be reasonably
assigned to the Executive during the Term. The Executive’s position will be based in the United
States but will require travel outside the United States to the Company’s offices and affiliated
offices in various countries and unions including, but not limited to Austria, Benelux, France,
Germany, Poland and the United Kingdom. The majority of the Executive’s time will be spent in the
United States but the Parties agree that such travel outside the United States will require the
Executive to make periodic travel each year to such countries and unions.

Article 4. Standard of Care

During the Term, the Executive agrees to devote his full time, attention, and energies
to the Company’s business and shall not be engaged in any other business activity, whether or not
such business activity is pursued for gain, profit, or other pecuniary advantage unless such
business activity is approved in writing by the Board or Committee, provided, however, that board
positions with nonprofit or philanthropic organizations which do not interfere with the Executive’s
performance of his duties and responsibilities shall not require Board or Committee approval. The
Executive covenants, warrants, and represents that he shall:

	 	(a)	 	Devote his full and best efforts to the fulfillment of his employment obligations;
and

	 	(b)	 	Adhere to Scotts’ code of business conduct or ethics as determined by the Board, the
Committee or the Company and exercise the highest standards of conduct in the performance
of his duties.

Article 5. Compensation

As remuneration for all services to be rendered by the Executive during the Term, and
as consideration for complying with the covenants herein, the Company shall pay and provide to the
Executive the following:

5.1 Base Salary. The Company shall pay the Executive a Base Salary in the annual amount of
$475,000 in United States dollars. That amount is calculated from the salary set forth in the Old
Agreement of €352,937, as converted in an exchange rate of about 1.35 United States dollars to 1.0
Euros, which was approximately the exchange rate in effect when the Parties informally accepted the
essential terms that resulted in the preparation of this Agreement. This Base Salary shall be paid
to the Executive in equal installments throughout the year, consistent with the normal payroll
practices of the Company. The Base Salary shall be reviewed at least annually following the
Effective Date of this Agreement, while this Agreement is in force, to ascertain whether, in the
judgment of the Committee, such Base Salary should be modified. If modified, the Base Salary as
stated above shall, likewise, be modified for all purposes of this Agreement.

5.2 Annual Bonus. The Executive shall be eligible to receive, in addition to his Base Salary,
an Annual Bonus Award which shall be based on an annual target expressed as a percentage of the
Executive’s Base Salary. The amount of the Annual Bonus Award, if any, with respect to any fiscal
year shall be based upon performance targets and award levels determined by the Committee in its
sole discretion, in accordance with the applicable annual bonus program(s) as in effect from time
to time. The Executive’s Annual Bonus Award opportunity (i.e., the amount payable if one hundred
percent (100%) of the applicable goals and targets are attained) for any fiscal year during the
Term will be established at fifty-five percent (55%) of his Base Salary, unless the parties agree
otherwise in writing. Any Annual Bonus Award earned and payable to the Executive hereunder shall
be paid as set forth in the plan governing such Annual Bonus Award.

5.3 Long-Term Incentives. The Executive shall be eligible to receive, in addition to his Base
Salary and Annual Bonus Award, a Long-Term Incentive Award for services rendered during an Award
Period established by the Committee. The amount of the Long-Term Incentive Award, if any, with
respect to any Award Period shall be based upon award levels determined by the Committee in its
sole discretion, in accordance with the Company’s or Scotts’ long-term incentive compensation plan,
as the case may be, as in effect from time to time.

5.4 Retirement Benefits. During the Term, and as otherwise provided within the provisions of
each of the respective plans, the Company shall provide to the Executive all retirement benefits to
which other executives and employees of the Company are entitled to receive, subject to the
eligibility requirements and other provisions of such arrangements as applicable to executives of
the Company generally.

5.5 Employee Benefits. During the Term, and as otherwise provided within the provisions of
each of the respective plans, the Company shall provide to the Executive all benefits to which
other executives and employees of the Company are entitled to receive, subject to the eligibility
requirements and other provisions of such arrangements as applicable to executives of the Company
generally. Such benefits shall include, but shall not be limited to, life insurance, comprehensive
health and major medical insurance, dental insurance, prescription drug insurance, vision
insurance, and short-term and long-term disability. The Executive shall likewise participate in any
additional benefit as may be established during the Term, by standard written policy of the
Company.

5.6 Sign-on Grant. Pursuant to the Company’s Amended and Restated 2006 Long-Term Incentive
Plan (the “LTIP”), the terms of which are expressly incorporated herein (or successor plan), the
Executive shall be granted performance units of the Company with a value on the date of grant of
approximately $600,000, subject to the terms and conditions of the LTIP. The value of the
performance unit grant reflects the approximate difference between the value of the Executive’s
severance benefits under the Old Agreement and the value of the severance benefits set forth
herein. The performance units shall vest based on performance criteria and be subject to certain
accelerated vesting provisions as set forth in the LTIP and the Performance Unit Award Agreement,
substantially and in all material respects in the form attached hereto as Exhibit A.

5.7 Residency and Tax Equalization. The intent of the tax equalization benefit is to place the
Executive in approximately the same after-tax position he would have been, as to Base Salary, the
Mobility Allowance Payment and any Annual Bonus Award (or such other payment or benefit that is
subject to the tax equalization protection as expressly set forth herein), had the Executive
remained a resident of France. The Company shall provide a tax equalization amount to the Executive
such that the Executive will owe no greater (or lesser) taxes on the Executive’s Base Salary, the
Mobility Allowance Payment and his Annual Bonus Award, if applicable (or such other payment or
benefit that is subject to the tax equalization protection as expressly set forth herein), compared
to the taxes that would be due on the same compensation in France, if the Executive remained a
resident of France, and as if that were the only compensation earned by the Executive. If the
Executive receives a tax equalization amount, the Executive will be entitled to a gross up payment
as necessary to cover any and all taxes associated with the tax equalization benefit putting the
Executive in approximately the same after-tax position he would have been in had the Executive
remained a resident of France. If the Executive owes the Company a tax equalization amount, the
Executive shall, upon request, make a payment to the Company in United States dollars (or the
Company may, without request, reduce future payments of Base Salary, or reduce the Annual Bonus
Award or any other payments due to the Executive) in the amount due. For purposes of calculating
the tax equalization amount on Base Salary, the Mobility Allowance Payment or Annual Bonus, if
applicable (or such other payment or benefit that is subject to the tax equalization protection as
expressly set forth herein), the taxes shall include all income, employment, social charges or
related customary taxes that would be due in the United States or France on the Executive’s Base
Salary, the Mobility Allowance Payment and his Annual Bonus Award, if applicable (or such other
payment or benefit that is subject to the tax equalization protection as expressly set forth
herein). Any tax equalization amount to either party or gross up payment payable to the Executive
under this Section 5.7 will be paid as soon as practicable, but not later than March 15, of the
calendar year following the calendar year for which such shortfall occurs. The Company and the
Executive understand that there are specific requirements and rules which govern the Executive’s
residency in France and whether the Executive will be a non-resident of France and a resident of
the United States for purposes of his employment under this Agreement. The Company will use its
reasonable best efforts to assist the Executive so that the Executive qualifies as a non-resident
of France during the Term but the Executive acknowledges and agrees to take all steps necessary to
assume non-resident status in France and appropriate immigration status in the United States and to
assume all risk associated with these requirements, including without limitation the French income
and social tax requirements. The Parties expressly acknowledge and agree that any amount paid under
Section 5.7 will not be considered Base Salary or an Annual Bonus Award for purposes of this
Agreement.

5.8 Mobility Allowance. The Executive’s principal work location shall be at the Company’s
offices located in Marysville, Ohio. The Executive acknowledges and agrees that it is a condition
of his employment with the Company that the Executive relocate to the Marysville, Ohio area. The
Company shall assist the Executive as to those mobility expenses, in connection with the
Executive’s relocation to the Marysville, Ohio area, by making a one time payment in the amount of
one hundred thousand dollars ($100,000.00) to the Executive on a net basis (the “Mobility Allowance
Payment”). The Mobility Allowance Payment shall be subject the tax equalization protection as set
forth in Section 5.7, applicable tax withholding and will be paid not later than October 31, 2010.

5.9 French Benefits. The Company will make voluntary contributions on behalf of the Company
and the Executive during the Term as necessary to maintain all state provided health and welfare,
unemployment and retirement coverage amounts for the Executive in France based on the same levels
the Executive would have enjoyed had he remained an associate in France for the Term.

5.10 Accrued Holiday Payment. The Parties expressly acknowledge and agree that SFSAS will make
a cash payment to the Executive, on or before the Effective Date, to buyout any accrued but not
taken holiday entitlement through the Effective Date, pursuant to the terms of the Old Agreement.

5.11 Additional Perquisites. The Company shall provide to the Executive the following
additional perquisites.

(a) The Company shall provide to the Executive on an annual basis a Company provided
automobile pursuant to the Company’s executive car program in place from time to time.

(b) The Company shall provide to the Executive on a monthly basis a housing allowance to cover
the cost of a rental home, utilities and furniture, if applicable, of up to six thousand dollars
($6,000.00). This housing allowance shall be paid directly to the third party lessor, or agent, on
behalf of the Executive.

(c) The Company shall provide to the Executive on an annual basis either (i) a four thousand
dollar ($4,000.00) amount to be used in lieu of the provision of personal financial tax planning,
or (ii) personal financial tax planning up to a cost or value of such amount.

(d) The Company shall, on an annual basis, provide the Executive, or reimburse up to six
thousand dollars ($6,000) expended by the Executive for, an executive physical examination at a
Mayo Clinic location or comparable facility.

(e) The Company shall pay for up to ten (10) round trip business class airline tickets per
year for trips to and from France, for the Executive, his spouse or other immediate family members,
as applicable. Such tickets must be booked through the Company’s corporate travel office.

(f) The Company shall provide to the Executive on an annual basis, at no cost, the preparation
of his United States and French annual tax returns, for all calendar tax years during the Term, by
an independent preparer.

(g) The Company will pay or reimburse the Executive such amount, in the aggregate, as the
Company determines, in its sole discretion, to be the reasonable costs to move the Executive, his
spouse or dependents, including personal items and household goods, to France following the Term.
Any payment or reimbursement, if applicable, shall be made in accordance with the Company’s travel
and relocation policies then in effect.

(h) The value of any services or reimbursements paid under this Section 5.11 will be added to
the Executive’s taxable income. Some or all of such value or amount of the benefits described in
this Section 5.11 may be tax deductible by the Executive, but the Company makes no tax
representation relating thereto. The value of any benefits or amounts paid under Sections 5.11 (b),
(e), (f) or (g) will be subject to the tax equalization protection as set forth in Section 5.7.

Article 6. Expenses

Upon presentation of appropriate documentation, the Company shall pay, or reimburse the
Executive, for all ordinary and necessary business expenses, in a reasonable amount, which the
Executive incurs in performing his duties under this Agreement including, but not limited to,
travel, entertainment, professional dues and subscriptions, and all dues, fees, and expenses
associated with membership in various professional, business, and civic associations and societies
in which the Executive’s participation is in the best interest of the Company, in accordance with
Company policy.

Article 7. Employment Terminations

7.1 Termination Due to Death. In the event of the Executive’s death during the Term,
this Agreement shall terminate effective immediately and the Company’s obligations under this
Agreement shall immediately expire.

Notwithstanding the foregoing, the Company shall be obligated to pay to the Executive the
following:

	 	(a)	 	Base Salary through the Effective Date of Termination within thirty
(30) days following such Effective Date of Termination;

	 	(b)	 	Subject to the Executive’s estate signing and not revoking a release of
claims satisfactory to the Company (a “Release”) within sixty (60) days following
the Effective Date of Termination, the Prorated Target Annual Bonus Award. Such
amount shall be paid no later than seventy (70) days following the Effective Date
of Termination; and

	 	(c)	 	All other rights and benefits the Executive is vested in, pursuant to
other plans and programs of the Company. Such rights and benefits shall be paid or
provided, as applicable, in accordance with the terms of the applicable plan or
program.

The Company and the Executive thereafter shall have no further obligations under this
Agreement. The Parties agree that except for any payments made under Section 7.1, the Company has
no further severance obligations to the Executive and no additional severance (including
accelerated vesting and/or settlement of equity-based compensation except to the extent otherwise
provided in the award agreement) will be payable in connection with the Executive’s termination of
employment under this Agreement.

7.2 Termination Due to Disability. Subject to any applicable legal requirement, in the event
that the Executive becomes Disabled during the Term, the Company shall have the right to terminate
the Executive’s employment by giving the Executive a Notice of Termination. Upon the Effective
Date of Termination, the Company’s obligations under this Agreement shall immediately expire.

Notwithstanding the foregoing, the Company shall be obligated to pay to the Executive the
following:

	 	(a)	 	Base Salary through the Effective Date of Termination (subject to an
offset for any disability payments that the Executive receives during this period)
within thirty (30) days following such Effective Date of Termination;

	 	(b)	 	Subject to the Executive signing and not revoking a Release within
sixty (60) days following the Effective Date of Termination, the Prorated Target
Annual Bonus Award. Such amount shall be paid no later than seventy (70) days
following the Effective Date of Termination; and

	 	(c)	 	All other rights and benefits the Executive is vested in, pursuant to
other plans and programs of the Company. Such rights and benefits shall be paid or
provided, as applicable, in accordance with the terms of the applicable plan or
program.

With the exception of the covenants referenced in Article 10 (which survive the termination of
the Executive’s employment), after the payments and execution of the Release, the Company and the
Executive shall have no further obligations under this Agreement. The Parties agree that except for
any payments made under Section 7.2, the Company has no further severance obligations to the
Executive and no additional severance (including accelerated vesting and/or settlement of
equity-based compensation except to the extent otherwise provided in the award agreement) will be
payable in connection with the Executive’s termination of employment under this Agreement.

7.3 Voluntary Termination by the Executive. The Executive may terminate his employment and
this Agreement at any time by giving the Company a Notice of Termination, delivered at least sixty
(60) calendar days prior to the Effective Date of Termination; provided, however, that the Company
may waive all or a portion of such sixty (60) day notice period. If the Company waives all or a
portion of such sixty (60) day notice period, this Agreement shall not continue for the full sixty
(60) day notice period but shall terminate upon the Executive’s “separation from service” as
defined under Section 409A of the Code, which date shall be the Effective Date of Termination.

Upon the Effective Date of Termination, the Company shall pay the Executive (a) his accrued
and unpaid Base Salary at the rate then in effect, through the Effective Date of Termination within
thirty (30) days following such Effective Date of Termination, plus (b) all other benefits to which
the Executive has a vested right as of the Effective Date of Termination pursuant to the terms and
conditions of the applicable plans and programs of the Company. With the exception of the covenants
referenced in Article 10 (which survive the termination of the Executive’s employment), the Company
and the Executive shall have no further obligations under this Agreement.

7.4 Termination by the Company without Cause or by the Executive with Good Reason unrelated to
a Change in Control. At all times during the Term, the Company may terminate the Executive’s
employment for reasons other than death, Disability, or for Cause, by providing to the Executive a
Notice of Termination, at least sixty (60) calendar days prior to the Effective Date of
Termination. Such Notice of Termination shall be irrevocable absent express written, mutual consent
of the Parties. Additionally, the Executive may terminate employment with the Company for Good
Reason by providing the Company with a Notice of Termination for Good Reason. The Notice of
Termination must set forth in reasonable detail the facts and circumstances claimed to provide a
basis for such Good Reason termination.

Upon the Effective Date of Termination, the Executive shall be entitled to:

	 	(a)	 	An amount equal to the Executive’s accrued and unpaid Base Salary through the
Effective Date of Termination within thirty (30) days following such Effective Date of
Termination.

	 	(b)	 	Subject to the Executive signing and not revoking a Release within sixty (60) days
following the Effective Date of Termination:

	 	(i)	 	A lump sum payment equal to two (2) times the Executive’s Base Salary,
at the rate in effect on the Effective Date of Termination; provided, however, that
if the reason for the Executive’s termination is a reduction in Base Salary, the
Base Salary before the reduction will be used to calculate the payment herein; and

	 	(ii)	 	A lump sum payment equal to the Prorated Annual Bonus Award.

(iii) As provided under the Company’s Amended and Restated 2006 Long Term Incentive
Plan or the applicable award agreement, accelerated vesting of Performance Units as set
forth in Exhibit A, attached hereto.

Except as otherwise required by Section 7.7, the lump sum payments described in this
Section 7.4(b)(i) and (ii) shall be made by the Company no later than seventy (70) days
following the Effective Date of Termination and the lump sum payment described in this
Section 7.4(b)(ii) shall be made no later than the fifteenth (15th) day of
the third (3rd) month following the end of the fiscal year in which the
Effective Date of Termination occurs. The Company shall provide the Release to the
Executive on or shortly after the Effective Date of Termination, and the Executive shall
execute the Release during the time period permitted by applicable law. 

	 	(c)	 	All other benefits to which the Executive has a vested right as of the Effective
Date of Termination, according to the provisions of the governing plan or program. Such
rights and benefits shall be paid or provided, as applicable, in accordance with the
terms of the applicable plan or program.

With the exception of the covenants referenced in Article 10 (which survive the termination of
the Executive’s employment), after the payments and execution of the Release, the Company and the
Executive shall have no further obligations under this Agreement. The Parties agree that except
for any payments made under Section 7.4, the Company has no further severance obligations to the
Executive and no additional severance (including accelerated vesting and/or settlement of
equity-based compensation except to the extent otherwise provided in the award agreement) will be
payable in connection with the Executive’s termination of employment under this Agreement.

7.5 Termination for Cause. Nothing in this Agreement shall be construed to prevent the Company
from terminating the Executive’s employment and this Agreement for Cause. In the event this
Agreement is terminated by the Company for Cause, the Company shall pay the Executive his Base
Salary through the Effective Date of Termination within thirty (30) days following such Effective
Date of Termination, and the Executive shall immediately thereafter forfeit all rights and benefits
(other than vested benefits) he would otherwise have been entitled to receive under this Agreement.
With the exception of the covenants referenced in Article 10 (which survive the termination of the
Executive’s employment), the Company and the Executive shall have no further obligations under this
Agreement.

7.6 Subsequent to a Change in Control, Termination by the Company without Cause or by the
Executive with Good Reason. If within two (2) years following a Change in Control, the Company
terminates the Executive’s employment for any reason other than death, Disability, or Cause or the
Executive terminates employment for Good Reason, by providing to the Executive or the Company, as
applicable, a Notice of Termination, at least sixty (60) calendar days prior to the Effective Date
of Termination, the Company shall pay and provide to the Executive:

	 	(a)	 	An amount equal to the Executive’s accrued and unpaid Base Salary through the
Effective Date of Termination within thirty (30) days following such Effective Date of
Termination.

	 	(b)	 	Subject to the Executive signing and not revoking a Release within sixty (60) days
following the Effective Date of Termination:

	 	(i)	 	A lump sum payment equal to two (2) times the Executive’s annual Base
Salary, at the Base Salary rate in effect on the Effective Date of Termination;
provided, however, that if the reason for the Executive’s termination is a
reduction in Base Salary, the Base Salary before the reduction will be used to
calculate the payment herein;

	 	(ii)	 	A lump sum payment equal to two (2) times the Target Annual Bonus
Award;

	 	(iii)	 	A lump sum payment that is equal to the Prorated Target Annual Bonus
Award; and

	 	(iv)	 	As provided under the Company’s Amended and Restated 2006 Long Term
Incentive Plan or the applicable award agreement, accelerated vesting of
Performance Units as set forth in Exhibit A, attached hereto.

Except as otherwise required by Section 7.7, the lump sum payments described in
this Section 7.6(b) shall be made by the Company within seventy (70) days following the
Effective Date of Termination. The Company shall provide the Release to the Executive
on or shortly after the Effective Date of Termination, and the Executive shall execute
the Release during the time period permitted by applicable law. 

	 	(c)	 	All other benefits to which the Executive has a vested right as of the Effective Date
of Termination, according to the provisions of the governing plan or program. Such rights
and benefits shall be paid or provided, as applicable, in accordance with the terms of the
applicable plan or program.

With the exception of the covenants referenced in Article 10 (which survive the termination of
the Executive’s employment), after the payments and execution of the Release, the Company and the
Executive shall have no further obligations under this Agreement. The Parties agree that except
for any payments made under Section 7.6, the Company has no further severance obligations to the
Executive and no additional severance (including accelerated vesting and/or settlement of
equity-based compensation except to the extent otherwise provided in the award agreement) will be
payable in connection with the Executive’s termination of employment under this Agreement.

7.7 Required Postponement for Specified Executives. If the Executive is considered a
Specified Executive and payment of any amounts under this Agreement is required to be delayed for a
period of six months after a separation from service pursuant to Section 409A of the Code, payment
of such amounts shall be delayed as required by Section 409A of the Code, and the accumulated
postponed amounts shall be paid in a lump sum payment within five (5) days after the end of the six
(6) month period. If the Executive dies during the postponement period prior to the payment of
such amounts, the amounts postponed on account of Section 409A of the Code shall be paid to the
Executive’s Beneficiary within sixty (60) days after the date of the Executive’s death.

7.8 Later Determined Cause. Notwithstanding anything in this Agreement to the contrary,
during the time between the Effective Date of Termination and either the Company’s Notice of
Termination or the Executive’s Notice of Termination, if the Executive engages in conduct that is
Cause, then the provisions relating to a termination for Cause shall control the termination rights
and processes of both Parties under this Agreement.

Article 8. Assignment

8.1 Assignment by the Company. This Agreement may and shall be assigned or transferred

to, and shall be binding upon and shall inure to the benefit of any successor company. For the
purposes of this Section 8.1, a “successor” shall include a purchaser of all of the equity of the
Company or all or substantially all of the assets or business of the Company. Any such successor
company shall be deemed substituted for all purposes of the “Company” under the terms of this
Agreement.

Failure of the Company to obtain the agreement of any successor company to be bound by the
terms of this Agreement prior to the effectiveness of any such succession shall be a breach of this
Agreement, and an event constituting Good Reason (as described in Section 2.17). Except as herein
provided, this Agreement may not otherwise be assigned by the Company.

8.2 Assignment by the Executive. This Agreement shall inure to the benefit of and be
enforceable by the Executive’s personal or legal representatives, executors, administrators,
successors, heirs, distributees, devisees, and legatees. If the Executive dies during the Term, the
Company’s obligations to make payments or provide benefits are described entirely in Sections 7.1
and 7.7 and all such amounts, unless otherwise provided herein, shall be paid in accordance with
the terms of this Agreement to the Executive’s Beneficiary.

Article 9. Notice

Any notices, requests, demands, or other communications provided by this Agreement
shall be sufficient if in writing and if sent by registered or certified mail to the Executive at
the last address he has filed in writing with the Company or, if to the Company, at its principal
offices.

Article 10. Confidentiality, Noncompetition, and Nonsolicitation

The Executive hereby acknowledges and agrees that, during the Term, the Executive will
frequently be exposed to certain knowledge, data and information of the Company and its
subsidiaries which is confidential and has substantial value to the Company. The Executive
acknowledges and agrees that it is reasonable for the Company to require the Executive to abide by
certain restrictive covenants. Therefore, contemporaneous with the Effective Date of this Agreement
and as a condition of the Executive’s employment with the Company, the Executive will sign and
return a copy of the Employee Confidentiality, Noncompetition and Nonsolicitation Agreement
attached hereto as Exhibit B. The provisions of this Article 10 shall survive the
termination of this Agreement and the termination of the Executive’s employment.

Article 11. Miscellaneous

11.1 Entire Agreement. Unless otherwise specified herein, this Agreement supersedes any
prior agreements or understandings, oral or written, between the Parties hereto or between the
Executive and the Company, with respect to the subject matter hereof, including without limitations
the Old Agreement and constitutes the entire agreement of the Parties with respect thereto.

11.2 Amendment or Modification. This Agreement shall not be varied, altered, modified,
canceled, changed, or in any way amended except by mutual agreement of the Parties in a written
instrument executed by the Parties hereto or their legal representatives. Notwithstanding the
foregoing, the Company may amend the Agreement, to take effect retroactively or otherwise, as
deemed necessary or advisable for the purpose of conforming the Agreement to any present or future
law relating to agreements of this or similar nature (including, but not limited to, Section 409A
of the Code), and to the administrative regulations and rulings promulgated thereunder. None of
the Company, Scotts or any of their respective affiliates, employees or agents shall have any
liability to the Executive for any failure to comply with Section 409A of the Code.

11.3 Severability. In the event that any provision or portion of this Agreement shall be
determined to be invalid or unenforceable for any reason, the remaining provisions of this
Agreement shall be unaffected thereby and shall remain in full force and effect.

11.4 Counterparts. This Agreement may be executed in one (1) or more counterparts, each of
which shall be deemed to be an original, but all of which together will constitute one and the same
Agreement.

11.5 No Tax Advice/Tax Withholding. The Executive will seek his own tax advice as to the
French and United States tax consequences of this Agreement to him and no employee of the Company
shall provide any such advice. The Company may withhold from any payment or benefits payable under
this Agreement all federal, state, city, or other taxes as may be required pursuant to any law or
governmental regulation or ruling. Except as specifically provided otherwise in this Agreement, the
Executive shall bear all expense of, and be solely responsible for, all federal, state and local
taxes due with respect to any payment received under this Agreement.

11.6 Beneficiaries. For the purposes of any payments or benefits due under Sections 7.1 and
7.7 of this Agreement, the Executive may designate one or more individuals or entities as the
primary and/or contingent Beneficiaries of any amounts to be received. Such designation must be in
the form of a signed writing acceptable to the Company. The Executive may make or change such
designation at any time. An acceptable form is attached hereto as Exhibit C. If no
Beneficiary is validly designated, then the benefits payable under this Agreement shall be paid to
the Executive’s surviving spouse or, if there is no surviving spouse, the Executive’s estate.

11.7 Payment Obligation Absolute. All amounts payable by the Company hereunder shall be paid
without notice or demand. Subject to the covenants set forth in Article 10 and the terms of any
bonus, long-term incentive or other such plan or program, each and every payment made hereunder by
the Company shall be final, and the Company shall not seek to recover all or any part of such
payment from the Executive or from whomsoever may be entitled thereto, for any reasons whatsoever.

The restrictive covenants referenced in Article 10 are independent of any other contractual
obligations in this Agreement or otherwise owed by the Company to the Executive. Except as provided
in this Section 11.7, the existence of any claim or cause of action by the Executive against the
Company, whether based on this Agreement or otherwise, shall not create a defense to the
enforcement by the Company of any restrictive covenant contained herein.

11.8 Contractual Rights to Benefits. Subject to approval by the Company, this Agreement
establishes and vests in the Executive a contractual right to the benefits to which he is entitled
hereunder. However, nothing herein contained shall require or be deemed to require, or prohibit or
be deemed to prohibit, the Company to segregate, earmark, or otherwise set aside any funds or other
assets, in trust or otherwise, to provide for any payments to be made or required hereunder.

11.9 Specific Performance. The Executive acknowledges that the obligations undertaken by him
pursuant to this Agreement are unique and that the Company will likely have no adequate remedy at
law if the Executive shall fail to perform any of his obligations hereunder. The Executive
therefore confirms that the Company’s right to specific performance of the terms of this Agreement
is essential to protect the rights and interests of the Company. Accordingly, in addition to any
other remedies that the Company may have at law or in equity, the Company shall have the right to
have all obligations, covenants, agreements, and other provisions of this Agreement specifically
performed by the Executive and the Company shall have the right to obtain preliminary injunctive
relief to secure specific performance and to prevent a breach or contemplated breach of this
Agreement by the Executive.

11.10 Consultation. The Executive represents and agrees that he has discussed all aspects of
this Agreement with his private attorney, that he has carefully read and fully understands all of
the provisions of this Agreement, that he is competent to execute this Agreement, that his decision
to execute this Agreement has not been obtained by any duress and that he freely and voluntarily
enters into this Agreement, and that he has read this document in its entirety and fully
understands the meaning, intent and consequences of this Agreement. The Parties expressly agree
that there will be no presumption against the Company as the drafter of this Agreement.

11.11 Voiding of Agreement Provision. Notwithstanding any provision of this Agreement, this
Agreement shall be construed and interpreted to comply with Section 409A of the Code and if
necessary, any provision shall be held null and void to the extent such provision (or part thereof)
fails to comply with Section 409A of the Code or regulations thereunder. For purposes of the
limitations on nonqualified deferred compensation under Section 409A of the Code, each payment of
compensation under the Agreement shall be treated as a separate payment of compensation for
purposes of applying the Section 409A of the Code deferral election rules and the exclusion from
Section 409A of the Code for certain short-term deferral amounts. Any amounts payable solely on
account of an involuntary separation from service within the meaning of Section 409A of the Code
shall be excludible from the requirements of Section 409A of the Code, either as involuntary
separation pay or as short-term deferral amounts (e.g., amounts payable under the schedule prior to
March 15 of the calendar year following the calendar year of involuntary separation) to the maximum
possible extent. Further, any reimbursements or in-kind benefits provided under the Agreement
shall be made or provided in accordance with the requirements of Section 409A of the Code,
including, where applicable, the requirement that (i) any reimbursement is for expenses incurred
during the period of time specified in the Agreement, (ii) the amount of expenses eligible for
reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses
eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year, (iii)
the reimbursement of an eligible expense will be made no later than the last day of the calendar
year following the year in which the expense is incurred, and (iv) the right to reimbursement or
in-kind benefits is not subject to liquidation or exchange for another benefit.

Article 12. Governing Law

To the extent not preempted by federal law, the provisions of this Agreement shall be
construed and enforced in accordance with the laws of the State of Ohio, excluding any conflicts or
choice of law rule or principle that might otherwise refer construction or interpretation of the
Agreement to the substantive law of another jurisdiction.

Article 13. Indemnification

The Company hereby covenants and agrees to indemnify and hold harmless the Executive
against and in respect to any and all actions, suits, proceedings, claims, demands, judgments,
costs, expenses, losses, and damages resulting from the Executive’s performance of his duties and
obligations under the terms of this Agreement; provided however, the Executive acted in good faith
and in a manner he reasonably believed to be in or not opposed to the best interests of the Company
or its shareholders, and with respect to a criminal action or proceeding, the Executive had no
reasonable cause to believe his conduct was unlawful. This Indemnification provision shall survive
Executive’s termination from employment for any reason.

[Signature Page Follows]

3

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date and year
first above written.

EXECUTIVE

/s/ Claude Lopez

Claude Lopez

Date: 5/28/10

THE SCOTTS COMPANY LLC

/s/ Denise Stump

Denise Stump, EVP Global Human Resouces

Date: 5/28/10

4

EXHIBIT A

FORM OF PERFORMANCE UNIT AWARD AGREEMENT

5

THE SCOTTS MIRACLE-GRO COMPANY

AMENDED AND RESTATED

2006 LONG-TERM INCENTIVE PLAN

PERFORMANCE UNIT AWARD AGREEMENT

(with related dividend equivalents)

PERFORMANCE UNITS GRANTED TO

CLAUDE LOPEZ ON OCTOBER 1, 2010

The Scotts Miracle-Gro Company (“Company”) believes that its business interests are best
served by ensuring that you have an opportunity to share in the Company’s business success. To this
end, the Company adopted The Scotts Miracle-Gro Company Amended and Restated 2006 Long-Term
Incentive Plan (“Plan”) through which key employees, like you, may acquire (or share in the
appreciation of) common shares, without par value, of the Company (“Shares”). Capitalized terms
that are not defined in this Award Agreement have the same meanings as in the Plan. 

This Award Agreement describes the type of Award that you have been granted and the terms and
conditions of your Award. To ensure you fully understand these terms and conditions, you should:

- Read the Plan and this Award Agreement carefully; and

- Contact [Title] at [Telephone Number] if you have any questions about your Award. Or, you may
send a written inquiry to the address shown below:

The Scotts Miracle-Gro Company

Attention: [Title]

14111 Scottslawn Road

Marysville, Ohio 43041

Also, no later than [Date 30 Days After Grant Date], you must return a signed copy of this Award
Agreement to:

[Third Party Administrator]

Attention: [TPA Contact’s Name]

[TPA Contact’s Address]

[TPA Telephone Number]

The Company intends that this Award satisfy the requirements of Section 409A of the Code and that
this Award Agreement be so administered and construed. You agree that the Company may modify this
Award Agreement, without any further consideration, to fulfill this intent, even if those
modifications change the terms of your Award and reduce its value or potential value.

1. DESCRIPTION OF YOUR PERFORMANCE UNITS

You have been granted [insert number] of Performance Units (“Performance Units”) and an equal
number of related dividend equivalents, subject to the terms and conditions of the Plan and this
Award Agreement. The “Grant Date” of your Award is October 1, 2010. Each whole Performance Unit
represents the right to receive one full Share at the time and in the manner described in this
Award Agreement. Subject to Section 3(f) of this Award Agreement, each dividend equivalent
represents the right to receive an amount equal to the dividends that are declared and paid during
the period beginning on the Grant Date and ending on the Settlement Date (as described in Section
2(b) of this Award Agreement) with respect to each Share represented by the related Performance
Unit.

2. VESTING AND SETTLEMENT

(a) Vesting. Subject to Sections 3(a), 3(b) and 3(c) of this Award Agreement, and provided
that you have not Terminated prior to such date, you will vest in your Performance Units on the
September 30, 2013 (“Vesting Date”) based on whether the criteria set forth in the table below are
satisfied:

	 	 	 
	If the compound annual growth rate of the

Company’s Net Sales over the Performance

Period is....

	 	You will vest in the following

percentage of your Performance

Units...
	 

	 	 
	Less than 7.0 percent (or negative)

	 	0 percent
	 

	 	 
	7.0 percent or greater

	 	100 percent
	 

	 	 

For purposes of this Award Agreement:

(i) For purposes of calculating compound annual growth rate: (A) the beginning value
shall be the FY10 Baseline; (B) the ending value shall be the Company’s Net Sales for the
fiscal year ending on September 30, 2013 (using the following foreign exchange currency
rates, as applicable: EUR ($1.350), GBP ($1.521) and CAD ($0.989)); and (C) the measurement
period shall be the Performance Period.

(ii) The “FY10 Baseline” shall be the Company’s actual global consumer net sales result
for FY10, excluding Roundup, as determined after the close of the books and used for
internal management reporting purposes.

(iii) “Net Sales” shall be the Company’s global consumer net sales, excluding Roundup,
used for internal management reporting purposes, as may be adjusted, in the Company’s sole
discretion, to reflect any acquisitions or divestitures during the Performance Period; and

(iv) The “Performance Period” shall be the three fiscal year period beginning on
October 1, 2010 and ending on September 30, 2013.

(b) Settlement.

(i) Subject to the terms of the Plan and this Award Agreement, your vested Performance
Units shall be settled in a lump sum as soon as administratively practicable, but no later
than 90 days, following the earliest to occur of: (i) your death or Disability; (ii) the
date of your Termination without Cause or for Good Reason; or (iii) September 30, 2013
(each, a “Settlement Date”). Your whole Performance Units shall be settled in full Shares,
and any fractional Performance Units shall be settled in cash, determined based upon the
Fair Market Value of a Share on the Settlement Date. Notwithstanding the foregoing, the
Company may delay the settlement of your Performance Units for the period and to the extent
required by Section 409A(a)(2)(B) of the Code.

(ii) For purposes of this Award Agreement:

(A) “Disabled” means (1) you are 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, (2) you are, 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,
receiving income replacement benefits for a period of not less than three months
under an accident and health plan covering Employees of your employer, or (3) you
are determined to be totally disabled by the Social Security Administration or
Railroad Retirement Board;

(B) “Terminate” (or any form thereof) means the later of (A) the cessation of
the employment relationship between you and the Company and all Affiliates and
Subsidiaries for any reason; or (B) the cessation of your service as a member of the
Board; provided, however, that, to the extent that this Award is subject to Section
409A of the Code, “Terminate” means your “separation from service” from the Company,
as defined in Section 409A of the Code.

(C) “Cause” and “Good Reason” shall have the meanings given to them in the
employment agreement effective as of October 1, 2010, by and between you and the
Company.

3. GENERAL TERMS AND CONDITIONS

(a) YOU MAY FORFEIT YOUR PERFORMANCE UNITS IF YOU TERMINATE. Except as otherwise provided in
this Section 3(a) and Section 3(c) of this Award Agreement, you will forfeit your Performance Units
if you Terminate prior to Vesting Date.

(i) If, prior to the Vesting Date, and notwithstanding Section 2(a) above, you (A) die
or (B) become Disabled, your Performance Units will become 100 percent vested as of the date
of such event and will be settled in accordance with Section 2(b) of this Award Agreement.

(ii) If, prior to the Vesting Date, and notwithstanding Section 2(a) above, you (A) are
Terminated by the Company without Cause or (B) Terminate for Good Reason, your Performance
Units will become 100 percent vested as of the date of your Termination and will be settled
in accordance with Section 2(b) of this Award Agreement.

(ii) If, prior to the Vesting Date, you Terminate for any reason not described in
Sections 3(a)(i) or (ii) of this Award Agreement, your Performance Units will be forfeited
immediately.

(b) YOU WILL FORFEIT YOUR PERFORMANCE UNITS IF YOU ENGAGE IN CONDUCT THAT IS HARMFUL TO THE
COMPANY (OR ANY AFFILIATE OR SUBSIDIARY). You will forfeit any outstanding Performance Units and
related dividend equivalents and must return to the Company all Shares and other amounts you have
received through the Plan if, without the Company’s written consent, you do any of the following
within 180 days before and 730 days after you Terminate:

(i) You serve (or agree to serve) as an officer, director, consultant, manager or
employee of any proprietorship, partnership, corporation or other entity or become the owner
of a business or a member of a partnership, limited liability company or other entity that
competes with any portion of the Company’s (or any Affiliate’s or Subsidiary’s) business
with which you have been involved any time within five years before your Termination or
render any service (including, without limitation, advertising or business consulting) to
entities that compete with any portion of the Company’s (or any Affiliate’s or Subsidiary’s)
business with which you have been involved any time within five years before your
Termination;

(ii) You refuse or fail to consult with, supply information to or otherwise cooperate
with the Company or any Affiliate or Subsidiary after having been requested to do so;

(iii) You deliberately engage in any action that the Company concludes has caused
substantial harm to the interests of the Company or any Affiliate or Subsidiary;

(iv) On your own behalf or on behalf of any other person, partnership, association,
corporation, limited liability company or other entity, you solicit or in any manner attempt
to influence or induce any employee of the Company or any Affiliate or Subsidiary to leave
the Company’s or any Affiliate’s or Subsidiary’s employment or use or disclose to any
person, partnership, association, corporation, limited liability company or other entity any
information obtained while an employee of the Company or any Affiliate or Subsidiary
concerning the names and addresses of the Company’s or any Affiliate’s or Subsidiary’s
employees;

(v) You disclose confidential and proprietary information relating to the Company’s or
any Affiliate’s or Subsidiary’s business affairs (“Trade Secrets”), including technical
information, product information and formulae, processes, business and marketing plans,
strategies, customer information and other information concerning the Company’s or any
Affiliate’s or Subsidiary’s products, promotions, development, financing, expansion plans,
business policies and practices, salaries and benefits and other forms of information
considered by the Company or any Affiliate or Subsidiary to be proprietary and confidential
and in the nature of Trade Secrets;

(vi) You fail to return all property (other than personal property), including keys,
notes, memoranda, writings, lists, files, reports, customer lists, correspondence, tapes,
disks, cards, surveys, maps, logs, machines, technical data, formulae or any other tangible
property or document and any and all copies, duplicates or reproductions that you have
produced or received or have otherwise been submitted to you in the course of your service
to the Company or any Affiliate or Subsidiary; or

(vii) You engaged in conduct that the Committee reasonably concludes would have given
rise to a Termination for Cause had it been discovered before you Terminated.

(c) CHANGE IN CONTROL. Normally, your Performance Units will vest and be settled only under
the circumstances described in Sections 2, 3(a)(i) and 3(a)(ii) a of this Award Agreement.
However, if there is a Change in Control, your Performance Units will vest and be settled as
described in the Plan. You should read the Plan carefully to ensure that you understand how this
may happen.

(d) AMENDMENT AND TERMINATION. Subject to the terms of the Plan, the Company may amend or
terminate this Award Agreement or the Plan at any time.

(e) RIGHTS BEFORE YOUR PERFORMANCE UNITS ARE SETTLED. Except as provided in Section 3(f) of
this Award Agreement, you will have none of the rights of a shareholder with respect to Shares
underlying the Performance Units unless and until you become the record holder of such Shares.

(f) DIVIDEND EQUIVALENTS. You will be entitled to receive a dividend equivalent equal to any
dividends declared and paid on each Share represented by a related Performance Unit, subject to the
same terms and conditions as the related Performance Unit. Any dividend equivalents described in
this Section 3(f) will be distributed to you in accordance with Section 2(b) of this Award
Agreement or forfeited, depending on whether or not you have met the conditions described in this
Award Agreement and the Plan. Any such distributions will be made in (i) cash, for any dividend
equivalents relating to cash dividends and (ii) Shares, for any dividend equivalents relating to
Share dividends.

(g) BENEFICIARY DESIGNATION. You may name a beneficiary or beneficiaries to receive any
Performance Units and related dividend equivalents that vest before you die but are settled after
you die. This may be done only on the attached Beneficiary Designation Form and by following the
rules described in that Form. The Beneficiary Designation Form does not need to be completed now
and is not required as a condition of receiving your Award. However, if you die without completing
a Beneficiary Designation Form or if you do not complete that Form correctly, your beneficiary will
be your surviving spouse or, if you do not have a surviving spouse, your estate.

(h) TRANSFERRING YOUR PERFORMANCE UNITS AND RELATED DIVIDEND EQUIVALENTS. Normally, your
Performance Units and related dividend equivalents may not be transferred to another person.
However, as described in Section 3(g) of this Award Agreement, you may complete a Beneficiary
Designation Form to name the person to receive any Performance Units and related dividend
equivalents that are vested before you die but are settled after you die. Also, the Committee may
allow you to place your Performance Units and related dividend equivalents into a trust established
for your benefit or the benefit of your family. Contact [Third Party Administrator] at [TPA
Telephone Number] or at the address given above if you are interested in doing this.

(i) GOVERNING LAW. This Award Agreement shall be governed by the laws of the State of Ohio,
excluding any conflicts or choice of law rule or principle that might otherwise refer construction
or interpretation of the Plan to the substantive law of another jurisdiction.

(j) OTHER AGREEMENTS. Your Performance Units and related dividend equivalents will be subject
to the terms of any other written agreements between you and the Company or any Affiliate or
Subsidiary to the extent that those other agreements do not directly conflict with the terms of the
Plan or this Award Agreement.

(k) ADJUSTMENTS TO YOUR PERFORMANCE UNITS. Subject to the terms of the Plan, your Performance
Units and related dividend equivalents will be adjusted, if appropriate, to reflect any change to
the Company’s capital structure (e.g., the number of Shares underlying your Performance Units will
be adjusted to reflect a stock split).

(l) OTHER RULES. Your Performance Units and related dividend equivalents are subject to more
rules described in the Plan. You should read the Plan carefully to ensure you fully understand all
the terms and conditions of the grant of Performance Units and related dividend equivalents under
this Award Agreement.

4. YOUR ACKNOWLEDGMENT OF AWARD CONDITIONS

By signing below, you acknowledge and agree that:

(a) A copy of the Plan has been made available to you;

(b) You understand and accept the terms and conditions of your Award;

(c) You will consent (on your own behalf and on behalf of your beneficiaries and transferees
and without any further consideration) to any necessary change to your Award or this Award
Agreement to comply with any law and to avoid paying penalties under Section 409A of the Code, even
if those changes affect the terms of your Award and reduce its value or potential value; and

(d) You must return a signed by no later than [Date 30 Days After Grant Date].

[signature page attached]

CLAUDE LOPEZ

By:        NOT AN EXECUTION COPY—

Date signed:

THE SCOTTS MIRACLE-GRO COMPANY

By:        NOT AN EXECUTION COPY       

[Name of Company Representative]

[Title of Company Representative]

Date signed:

6

EXHIBIT B

EMPLOYEE CONFIDENTIALITY, NONCOMPETITION AND NONSOLICITATION AGREEMENT

7

EMPLOYEE CONFIDENTIALITY, NONCOMPETITION,

NONSOLICITATION AGREEMENT

This Employee Confidentiality, Noncompetition, Nonsolicitation Agreement (“Agreement”), is by
and between The Scotts Company LLC, and all companies controlled by, controlling or under common
control with the Scotts Company LLC (collectively, the “Company”), and the person designated on the
signature page hereof as “Employee.” This Agreement is effective as of the date signed by Employee
below (the “Effective Date”).

WHEREAS, the Company desires to employ (or to continue to employ) Employee, and Employee
desires to be employed by (or to continue to be employed by) the Company, in a position with
respect to which Employee will have access to certain confidential and proprietary information of
the Company;

WHEREAS, the Company desires to have Employee participate (or continue to participate) and
Employee has reviewed and desires to participate (or continue to participate) in The Scotts Company
LLC Executive/Management Incentive Plan (the “Plan”); and,

WHEREAS, the Company believes, and Employee hereby acknowledges, that the confidential and
proprietary information of the Company is extremely important to the success of the Company, and
Employee understands and agrees that the Company is willing to provide Employee access or continued
access to such information, subject to and in consideration of the agreements of Employee set forth
herein regarding confidentiality, noncompetition, nonsolicitation and related matters;

NOW, THEREFORE, in consideration for employment or continued employment, participation in the
Plan, access to or continued access to Confidential Information (defined below), training,
compensation and benefits, as well as other good and valuable consideration provided by the Company
to Employee, the receipt and sufficiency of which are hereby acknowledged, Employee freely enters
this Agreement according to the following terms and conditions:

1. Confidential Information. As used in this Agreement the term “Confidential
Information” shall mean any and all financial, commercial, technical, engineering or other
information in written, oral, visual, or electronic form concerning the business and affairs of the
Company including, without limitation, (i) information derived from reports, investigations,
experiments, research and work in progress, (ii) methods of operation, (iii) market data, (iv)
proprietary computer programs and codes, (v) drawings, designs, plans and proposals, (vi) marketing
and sales programs, (vii) client and supplier lists and any other information about the Company’s
relationships with others, (viii) financial information and financial projections, (ix) network and
system architecture, (x) all other concepts, ideas, materials and information prepared or performed
for or by the Company and (xi) all information related to the business plan, strategies, business,
products, purchases or sales of the Company or any of its suppliers and customers. The term
“Confidential Information” does not include information that: (a) was or is made available to the
public without restriction by the Company or by a third party who has the right to disclose such
information; (b) was previously known to the Employee independent of the Company or, subject to the
terms of Section 4 of this Agreement, independently developed or derived by Employee without the
aid, application or use of any Confidential Information, as evidenced by corroborating, dated
documentation; or (c) is disclosed to Employee on a non-confidential basis by a third party who has
the right to disclose such information.

2. Confidentiality. Employee recognizes and acknowledges that the Confidential
Information, as it may exist from time to time, is a valuable, special and unique asset of the
Company. Employee further recognizes and acknowledges that access to and knowledge of the
Confidential Information is essential to the performance of the Employee’s duties as an employee of
the Company. Accordingly, during Employee’s employment with the Company, and for an indefinite
period thereafter, Employee shall hold in strict confidence and shall not, directly or indirectly,
disclose or reveal to any person, or use for Employee’s own personal benefit or for the benefit of
anyone other than the Company, any Confidential Information of any kind, nature or description
(whether or not acquired, learned, obtained or developed by Employee alone or in conjunction with
others) belonging to or concerning the Company, or any of its customers or clients or others with
whom the Company now or hereafter has a business relationship, except (a) with the prior written
consent of the Company, or (b) in the course of the proper performance of Employee’s duties as an
employee of the Company. Upon the termination of Employee’s employment with the Company, or
whenever requested by the Company, Employee shall immediately deliver to the Company all
Confidential Information in Employee’s possession or under Employee’s control.

3. Company Property. Upon the termination of Employee’s employment with the Company,
or whenever requested by the Company, Employee shall immediately deliver to the Company all
property in Employee’s possession or under Employee’s control belonging to the Company without
limitation.

4. Employee Created Intellectual Property. Any and all inventions, ideas,
improvements, discoveries, concepts, writings, processes, procedures, products, designs, formulae,
specifications, samples, methods, know how or other things of value (“Intellectual Property”) which
Employee may make, conceive, discover or develop, either solely or jointly with any other person or
persons, at any time during the term of this Agreement or during the term of any prior employment
by the Company, whether during working hours or at any other time and whether at the request or
upon the suggestion of the Company or otherwise, which relate to or are useful in connection with
the business now or hereafter carried on by the Company, shall be the sole and exclusive property
of the Company, and where applicable, all copyrightable works shall be considered “Works Made for
Hire” under the U.S. Copyright Act, 17 USC § 101 et seq. Employee (a) agrees to promptly
disclose all such Intellectual Property to the Company, (b) agrees to do everything necessary or
advisable to vest absolute title thereto in the Company, (c) assigns, without further
consideration, to the Company all right, title and interest in and to such Intellectual Property,
free and clear of any claims, liens or reserved rights of the Employee, and (d) irrevocably
relinquishes for the benefit of the Company and its assignees any moral rights in the Intellectual
Property recognized by applicable law.

5. Restrictive Covenants. Employee agrees that during the Employee’s employment with
the Company and for a period of two (2) years thereafter, Employee shall not, directly or
indirectly, for Employee’s own benefit or for the benefit of any person or entity other than the
Company:

(a) engage in, or be employed by a person or entity that engages in, the business of providing
services and/or products that are competitive with the Company’s business as that business is
conducted or proposed to be conducted during the Employee’s employment. This prohibition shall
generally apply to any competitive activities in any geographic area either in which the Company
is engaged in business activities or in which its customers are located as of the date that
Employee’s employment ends;

(b) in addition to the prohibition contained in paragraph 5(a), Employee shall not be employed,
or provide consulting services or other assistance to the Companies listed in Appendix A (the
“List”). The Company reserves the right to identify additional or alternate companies for
inclusion on the List in the future. Employee may contact the Company from time to time to
obtain an updated copy of the List and the Company will promptly provide such list;

(c) employ, solicit for employment, or advise or recommend to any other person (“person”
meaning a natural person or legal entity) that such other person employ or solicit for
employment, any current or past employee of the Company (where “past employee of the Company”
means any person employed by the Company within one year of the solicitation or proposed
employment);

(d) solicit or induce, or attempt to solicit or induce, any customer or prospective customer of
the Company (i) to cease being, or not becoming, a customer of the Company or (ii) to divert any
of the customer’s business or prospective business from the Company;

(e) otherwise interfere with, disrupt, or attempt to interfere with or disrupt the
relationship, contractual or otherwise, between the Company and any of its customers,
clients, suppliers, consultants or employees; or

(f) deliberately engage in any action that will cause substantial harm to the Company,
including, but not limited to, disparagement of the Company.

Employee agrees that the restrictions contained in this Section 5 are reasonable in scope,
duration, and geographic territory, and necessary to protect the Company’s legitimate business
interests. The restrictive covenants set forth in this Paragraph 5 are subject to Paragraph 8
hereof and Employee hereby waives any and all right to attack the validity of such covenants on the
grounds of the breadth of their geographic scope or the length of their term.

	 	6.	 	Certain Remedies.

(a) Employee agrees and acknowledges that Employee’s breach of any of the provisions of
paragraphs 2 and 5 of this Agreement will cause, in addition to any liquidated or quantifiable
monetary damage, irreparable damage to the Company for which monetary damages alone will not
constitute an adequate remedy. Consequently, Employee agrees that the Company shall be entitled
as a matter of right (without being required to prove damages or furnish any bond or other
security) to obtain a restraining order, an injunction, an order of specific performance, or
other equitable or extraordinary relief from any court of competent jurisdiction restraining any
further breach of such provisions by Employee or requiring Employee to perform its obligations
hereunder. Such right to equitable or extraordinary relief shall not be exclusive but shall be
in addition to all other rights and remedies to which the Company may be entitled at law or in
equity, including without limitation the right to recover monetary damages as set forth in
paragraph 6(b) and for the breach of any of the provisions of this Agreement.

(b) The parties agree that the monetary value of any breach of paragraphs 2 or 5 would be
difficult to calculate. As a result, the parties agree that in the event of a breach of
paragraph 2 or 5, in addition to any additional monetary damages that may be proven, Employee
shall give up any right Employee may have to any unpaid bonus under the Plan, and shall, upon
the Company’s demand, repay all payments Employee has received under the Plan within 3 years
prior to the breach. Employee acknowledges that this is a reasonable basis for estimating
damages from such breach and that these estimated damages are separate from the irreparable harm
contemplated in subparagraph 6(a).

(c) In the event that the Company seeks court enforcement of any of the provisions of this
Agreement, or is forced to respond to an action filed by Employee and related to this Agreement,
and the Company is the substantially prevailing party, Employee shall pay the Company’s
reasonable attorney’s fees and costs incurred in those efforts.

7. Term of this Agreement. Except as otherwise expressly provided in paragraph 5,
this Agreement shall continue in effect and survive for an indefinite period notwithstanding the
termination of Employee’s employment with the Company for any reason.

8. NO EMPLOYMENT AGREEMENT. THIS AGREEMENT IS NOT, HOWEVER, AND SHALL NOT BE DEEMED TO
BE, AN EMPLOYMENT AGREEMENT THAT OBLIGATES THE COMPANY TO EMPLOY EMPLOYEE, OR OBLIGATES EMPLOYEE TO
CONTINUE IN THE COMPANY’S EMPLOYMENT, FOR ANY TERM WHATSOEVER. UNLESS THERE IS A SEPARATE, WRITTEN
EMPLOYMENT CONTRACT BETWEEN EMPLOYEE AND THE COMPANY TO THE CONTRARY, EMPLOYEE IS AN “AT WILL”
EMPLOYEE OF THE COMPANY AND THE CONTINUATION OF EMPLOYEE’S EMPLOYMENT BY THE COMPANY IS SUBJECT TO
THE RIGHT OF THE COMPANY TO TERMINATE SUCH EMPLOYMENT AT ANY TIME, WITHOUT CAUSE.

9. Severability. If any provision of this Agreement is held to be unenforceable for
any reason, that provision shall be severed and this Agreement shall remain in full force and
effect in all other respects. If any provision of this Agreement, although unenforceable as
written, may be made enforceable by limitation thereof, then such provision will be enforceable to
the maximum extent permitted by applicable law.

10. APPLICABLE LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF OHIO IRRESPECTIVE OF CHOICE OF LAW PRINCIPLES. Employee and the
Company agree that any action brought by any party in connection with this Agreement shall be filed
in either state or federal court located within the State of Ohio.

11. No Reliance. Employee represents and warrants to the Company that no promise or
inducement for this Agreement has been made to Employee except as set forth herein; and this
Agreement is executed by Employee freely and voluntarily, and without reliance upon any statement
or representation by the Company, or any of the Company’s attorneys, employees or agents except as
expressly set forth herein.

12. Assignment. The Company may assign, in whole or in part, its rights and
obligations under this Agreement. The rights of the Company shall enure to the benefit of, and the
obligations of the Company shall be binding upon, the Company’s successors and assigns. Employee
shall not be entitled to assign any of Employee’s rights or obligations under this Agreement.

13. Notification. Employee shall notify any person or entity employing Employee or
intending to employ Employee of the existence and provisions of this Agreement. Employee agrees
that the Company may also notify any person or entity employing Employee or intending to employ
Employee of the existence and provisions of this Agreement.

14. Modification and Waiver. This Agreement shall not be modified unless such
modification is in writing and signed by the EVP, Global Human Resources for the Company. Further,
the parties agree that the Company’s waiver of any provision of this Agreement shall not constitute
a waiver of any other provision of this Agreement.

	 	 	 
	AGREED AND ACKNOWLEDGED:

	 	

	EMPLOYEE:

       NOT AN EXECUTION COPY       

Signature

Printed Name

	 	THE SCOTTS COMPANY

By:        NOT AN EXECUTION COPY—

Signature

Denise Stump, EVP Global Human Resources
	Date

	 	Printed Name

8

EXHIBIT C

THE SCOTTS COMPANY LLC

BENEFICIARY DESIGNATION FORM

RELATING TO CONTINGENT PAYMENTS UNDER THE EMPLOYMENT AGREEMENT

ENTERED INTO BETWEEN BY AND BETWEEN CLAUDE LOPEZ

AND THE SCOTTS COMPANY LLC

1.00 INSTRUCTIONS FOR COMPLETING THIS BENEFICIARY DESIGNATION FORM

You may use this Beneficiary Designation Form to (1) name the person you want to receive any amount
due under the Employment Agreement, effective October 1, 2010 by and between you and The Scotts
Company LLC (“Agreement”) after your death or (2) change the person who will receive these
benefits.

There are several things you should know before you complete this Beneficiary Designation Form.

FIRST, if you do not elect a beneficiary, any amount due to you under the Agreement when you die
will be paid to your surviving spouse or, if you have no surviving spouse, to your estate.

SECOND, your election will not be effective (and will not be implemented) unless you complete all
applicable portions of this Beneficiary Designation Form and return it with a signed copy of the
Agreement to the legal department.

THIRD, all elections will remain in effect until they are changed (or until all death benefits are
paid).

FOURTH, this beneficiary designation supersedes and revokes all other beneficiary designations with
respect to payments under the Agreement.

2.00 DESIGNATION OF BENEFICIARY

2.01 PRIMARY BENEFICIARY:

I designate the following person as my Primary Beneficiary to receive any amount due after my death
under the Agreement:

	 	 	 
	(Name)

	 	(Relationship)
	Address:

	 	

2.02 CONTINGENT BENEFICIARY

If my Primary Beneficiary dies before I die, I direct that any amount due after my death under the
terms of the Agreement be distributed to:

	 	 	 
	(Name)

	 	(Relationship)
	Address:

	 	

Elections made on this Beneficiary Designation Form will be effective only after this Form is
received by the legal department and only if it is fully and properly completed and signed.

NAME

Address:

Sign and attach this Beneficiary Designation Form to the Agreement.

	 	 	 
	Date

	 	Signature

To be Completed by the Company:

	 
	Received on:

	By:

9

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