Document:

Letter Agreement - Robert S. Gluck

 Exhibit 10.29 
  
 As of December     , 2005 
  
 Boulder Specialty Brands, Inc. 
 6106 Sunrise
Ranch Drive 
 Longmont, Colorado 80503 
  
 Citigroup Global Markets Inc. 
 388 Greenwich Street 
 New York, New York 10038 
  
 Roth Capital Partners, LLC 
 24 Corporate Plaza 
 Newport Beach, CA 92660 
  
 Re: Initial Public
Offering 
  
 Ladies and Gentlemen: 
  
 The undersigned stockholder, officer and director of Boulder Specialty
Brands, Inc. (the “Company”), in consideration of Citigroup Global Markets Inc. (“CGMI”) and Roth Capital Partners, LLC (“Roth Capital” and, collectively with CGMI, the “Representatives”) underwriting the
initial public offering of the securities of the Company (“IPO”), hereby agrees as follows (certain capitalized terms used herein are defined in paragraph 11 hereof): 
  
 1. If the Company solicits approval by its stockholders of a Business Combination, the undersigned will vote (i) all
Insider Shares owned by him in accordance with the majority of the votes cast by the holders of the IPO Shares, and (ii) all other shares of common stock of the Company then owned by him, whether purchased in or after the IPO, in favor of a
Business Combination, as a result of which the undersigned acknowledges and agrees that he will not be entitled to exercise the conversion rights offered to the Company’s public stockholders as to any other shares of common stock owned by him.

  
 2. In the event that the Company fails to consummate a
Business Combination within 18 months from the effective date (“Effective Date”) of the Company’s registration statement, relating to the IPO, on Form S-1, File No. 333-126364 (the “Registration Statement”) (or 24
months under the circumstances described in the Registration Statement), the undersigned (i) will take all reasonable actions within his power to cause the Company to liquidate as soon as reasonably practicable, (ii) waives any and all
right, title, interest or claim of any kind in or to any liquidating distributions by the Company, including, without limitation, any distribution of the assets from the trust account established under the Investment Management Trust Agreement dated
as of December [__], 2005 between the Company and Continental Stock Transfer & Trust Company (the “Trust Account”) as a result of such liquidation with respect to his Insider Shares (“Claim”), (iii) waives any Claim
the undersigned may have in the future as a result of, or arising out of, any contracts or agreements with the Company except as and to the extent an agreement is otherwise disclosed in the Company’s registration statement relating to the IPO
and described in paragraph 5 below. 
  
 3. In order to minimize
potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees that in the event he becomes aware of, or involved with, (i) any business combination opportunities with a fair market value of $80 million or
more or (ii) transactions such as joint ventures, partnerships or brand acquisition opportunities with a fair market value of $80 million or more, the undersigned will first offer such business opportunities to the Company and further agrees
that neither he nor any affiliate of the undersigned will pursue such opportunities unless and until the Company’s board of directors determines that it will not pursue such opportunities (the “Company’s Right of First Refusal”).
The Company’s Right of First Refusal will terminate on the earlier of (x) the consummation by the Company of a Business Combination and (y) the liquidation of the Company. 
  
 4. The undersigned acknowledges and agrees that the Company will not consummate any Business Combination which involves a
company which is affiliated with any of the Insiders, any of the underwriters or any selling group member. 

 5. None of the undersigned, any member of the family of the undersigned, nor any affiliate of the
undersigned will be entitled to receive and will not accept any compensation for services rendered to the Company prior to the consummation of the Business Combination; provided that the undersigned shall be entitled to reimbursement from the
Company for his out-of-pocket expenses incurred in connection with seeking and consummating a Business Combination. 
  
 6. None of the undersigned, any member of the family of the undersigned, or any affiliate of the undersigned will be entitled to receive or accept a
finder’s fee or any other compensation in the event the undersigned, any member of the family of the undersigned or any affiliate of the undersigned originates a Business Combination. 
  
 7. The undersigned will escrow (i) fifty percent (50%) of his
Insider Shares for the three-year period commencing on the Effective Date and (ii) fifty percent (50%) of his Insider Shares until both (x) the Company has completed a Business Combination and (y) the last sale price of its
common stock thereafter equals or exceeds $11.50 per share for any 20 trading days within any 30 trading day period beginning after the Company completes such Business Combination, subject to the terms of a Stock Escrow Agreement which the Company
will enter into with the undersigned and an escrow agent acceptable to the Company. 
  
 8. The undersigned agrees to be the Vice Chairman and a director of the Company until the earlier of the consummation by the Company of a Business Combination or the liquidation of the Company. The undersigned’s
biographical information furnished to the Company and the Representatives and included in the Registration Statement is true and accurate in all respects, does not omit any material information with respect to the undersigned’s background and
contains all of the information required to be disclosed pursuant to Section 401 of Regulation S-K, promulgated under the Securities Act of 1933, as amended. The undersigned’s Questionnaire previously furnished to the Company and the
Representatives is true and accurate in all respects. The undersigned represents and warrants that: 
  
 (a) he is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist
or refrain from any act or practice relating to the offering of securities in any jurisdiction; 
  
 (b) he has never been convicted of or pleaded guilty to any crime (i) involving any fraud or (ii) relating to any financial
transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and he is not currently a defendant in any such criminal proceeding; and 
  
 (c) he has never been suspended or expelled from membership in any securities or commodities exchange or
association or had a securities or commodities license or registration denied, suspended or revoked. 
  
 9. The undersigned has full right and power, without violating any agreement by which he is bound, to enter into this letter agreement and to serve as
Vice Chairman and a director of the Company. 
  
 10. The
undersigned authorizes any employer, financial institution, or consumer credit reporting agency to release to the Representatives and their legal representatives or agents (including any investigative search firm retained by the Representatives) any
information they may have about the undersigned’s background and finances (“Information”). Neither the Representatives nor their agents shall be violating the undersigned’s right of privacy in any manner in requesting and
obtaining the Information and the undersigned hereby releases them from liability for any damage whatsoever in that connection. 
  
 11. As used herein, (i) a “Business Combination” shall mean an acquisition, through merger, stock exchange, asset acquisition or similar
business combination with one or more operating businesses in the food or beverage industries that has, or collectively have, a fair market value equal to at least 80% of the balance in the Trust Account; (ii) ”Insiders” shall mean
all officers, directors and stockholders of the Company immediately prior to the IPO; (iv) ”Insider Shares” shall mean all of the shares of Common Stock of the Company owned by Insiders prior to the IPO; (v) ”IPO
Shares” shall mean the shares of Common Stock sold as part of the units in the Company’s IPO; and (vi) “Public Stockholders” shall mean the public holders of the Company’s common stock issued in the IPO. 

 12. The undersigned hereby consents to the jurisdiction and venue of any state or federal court located
in the State and County of New York for purposes of resolving any disputes hereunder. The undersigned irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The undersigned hereby waives any objection to such exclusive
jurisdiction and that such courts represent an inconvenient forum. 
  

			
	 Very truly yours,

	
	 ROBERT S. GLUCK

		
	 By:
	 	 
	 	 	 Robert S. Gluck

  
 Exhibit A 
  
 Robert S. Gluck has been a vice chairman and a member of our board of directors since
November 2005. Highlights of Mr. Gluck’s background include: 
  

	 	•	 	over 25 years’ experience as a senior financial executive, including 21 years spent with Bestfoods, formerly known as CPC International, and four years with Unilever United
States, Inc.; 

  

	 	•	 	chief financial officer, senior vice president - finance and a member of the board of directors of Unilever U.S., a Unilever NV/Plc subsidiary with $11 billion in annual sales,
where Mr. Gluck had overall responsibility for accounting, financial reporting, payroll, pensions and investments, tax and real estate activities, and a coordinating role for investor relations, mergers and acquisitions, and internal audit
function; 

  

	 	•	 	while with Bestfoods/CPC International from 1997 through 2000, he served as a member of the corporate board finance committee that oversaw investment of annual funds flow of over $1
billion, and where he was responsible for mergers and acquisitions, joint ventures, and peer group performance reviews; 

  

	 	•	 	served as a key member of the management team involved in the sale of Bestfoods to Unilever in 2000, which at that time set an all-time high for food company sale price multiples;
and 

  

	 	•	 	intensive involvement in corporate and finance integration activities, strategic planning, cost reduction programs, capital expenditure plans, and analysis of competitive
strategies. 

  
 Mr. Gluck joined CPC International in 1979 in
finance and was appointed vice president of business development for CPC North America in 1988. In 1995, he was appointed as a vice president of finance of the Corn Products Division of CPC North America, where he led the strategic review that
recommended a tax-free spin-off of this division to the parent company’s stockholders. He was appointed to the positions of vice president and treasurer of Bestfoods in 1997, where he served as a member of the corporate board finance committee
and oversaw a variety of treasury activities in over 65 countries. In addition to serving as a key member of the management team that negotiated the sale of Bestfoods to Unilever in October 2000, while at Bestfoods Mr. Gluck also participated
as a key member in the acquisitions of Arisco, Case-Swayne Foods and five other international food businesses that collectively required over $1.1 billion of total funding. From 2000 to 2004, Mr. Gluck served as the senior vice president and
chief financial officer of Unilever United States, Inc. Since that time, Mr. Gluck has been providing consulting services to companies throughout the food industry through his consulting firm, Matthew Robert Associates, LLC, where he
specializes in strategic planning, financial operations review, mergers and acquisitions, divestitures, competitive analysis and peer group benchmarking. Mr. Gluck holds a Bachelors degree in marketing from the New York Institute of Technology
and an MBA in finance from St. John’s University. He is a member of Financial Executives Institute, the Association for Corporate Growth, the Food Marketing Institute, and the National Restaurant Association.Form of executive stock option grant.

 Exhibit 10.1 
  
 INSMED INCORPORATED 
 INCENTIVE STOCK OPTION AGREEMENT 
  
 No.
of shares subject to Option:                      
  

THIS AGREEMENT dated this      day of
                    ,
                     between INSMED INCORPORATED, a Virginia corporation (the “Company”), and
                                 (“Participant”), is made pursuant and
subject to the provisions of the Amended and Restated Insmed Incorporated 2000 Stock Incentive Plan (the “Plan”), a copy of which has been made available to the Participant. All terms used herein that are defined in the Plan have the same
meaning given them in the Plan. 
  
 1. Grant of
Option. Pursuant to the Plan, the Company, on                      (the “Date of Grant”), granted to Participant, subject to
the terms and conditions of the Plan and subject further to the terms and conditions herein set forth, the right and Option to purchase from the Company all or any part of an aggregate of
             shares of Common Stock at the Option price of $             per share, being not less than the Fair
Market Value of such shares on the Date of Grant. This Option is intended to be an “incentive stock option” within the meaning of Section 422 of the Code. In the event that any portion of this Option does not qualify as an incentive
stock option, the Company will designate the stock that will be treated as acquired pursuant to the exercise of an incentive stock option by issuing a separate certificate (or certificates) for such stock, and identifying the certificates as
incentive stock option stock in its stock transfer records. This Option is exercisable as hereinafter provided. 
  
 2. Terms and Conditions. This Option is subject to the following terms and conditions: 
  
 (a) Expiration Date. This Option shall expire six
years from the Date of Grant (the “Expiration Date”). 
  
 (b) Exercise of Option. Except as provided in paragraphs 3, 4 and 5, this Option shall be exercisable with respect to one-third of the shares of Common Stock subject to this Option on the first anniversary of
the Date of Grant and with respect to an additional one-third of the shares subject to this Option on each of the second through third anniversaries of the Participant’s Date of Grant. Once this Option has become exercisable in accordance with
the preceding sentence it shall continue to be exercisable until the termination of Participant’s rights hereunder pursuant to paragraph 3, 4 or 5 or until the Option has expired pursuant to subparagraph 2(a). A partial exercise of this Option
shall not affect Participant’s right to exercise this Option with respect to the remaining shares, subject to the conditions of the Plan and this Agreement. 

 (c) Method of Exercising Option and Payment for Shares. This Option shall be
exercised by written notice delivered to the attention of the Company’s Human Resources Manager at the Company’s principal office in Glen Allen, Virginia (see attachment A – “Notice of Option Exercise”). The exercise date
shall be (i) in the case of notice by mail, the date of postmark, or (ii) if delivered in person, the date of delivery. Such notice shall be accompanied by payment of the Option price in full, in cash or cash equivalent acceptable to the
Committee, or by the surrender of shares of Common Stock with an aggregate Fair Market Value (determined as of the day preceding the exercise date) which, together with any cash or cash equivalent paid, is not less than the Option price for the
number of shares for which this Option is being exercised. 
  
 (d) Nontransferability. This Option may not be transferred except by will or by the laws of descent and distribution. During Participant’s lifetime, this Option may be exercised only by Participant.

  
 3. Exercise in the Event of Death. In the event
Participant dies before the expiration of this Option pursuant to subparagraph 2(a), this Option shall be exercisable with respect to all or part of the shares of Common Stock that Participant was entitled to purchase under subparagraph 2(b) on the
date of Participant’s death. In that event, this Option may be exercised, to the extent exercisable under subparagraph 2(b), by Participant’s estate or by the person or persons to whom his rights under this Option shall pass by will or the
laws of descent and distribution. Participant’s estate or such persons may exercise this Option within one year of Participant’s death or during the remainder of the period preceding the Expiration Date, whichever is shorter. 

 
 4. Exercise in the Event of Permanent and Total Disability.
In the event Participant becomes permanently and totally disabled within the meaning of Section 22(e)(3) of the Code (“Permanently and Totally Disabled”) before the expiration of this Option pursuant to subparagraph 2(a), this Option
shall be exercisable with respect to all or part of the shares of Common Stock that Participant was entitled to purchase under subparagraph 2(b) on the date he ceases to be employed by the Company and its Affiliates as a result of his becoming
Permanently and Totally Disabled. In that event, Participant may exercise this Option, to the extent exercisable under subparagraph 2(b), within one year of the date he ceases to be employed by the Company and its Affiliates as a result of his
becoming Permanently and Totally Disabled or during the period preceding the Expiration Date, whichever is shorter. 
  
 5. Exercise After Termination of Employment. Except as provided in paragraphs 3 and 4, if the Participant ceases to be employed by the
Company and its Affiliates prior to the Expiration Date, this Option shall be exercisable for all or part of the number of shares that the Participant was entitled to purchase under subparagraph 2(b) on the date of Participant’s termination of
employment. In that event, Participant may exercise this Option, to the extent exercisable under subparagraph 2(b), during the remainder of the period preceding the Expiration Date or until the date that is three months after the date he ceases to
be employed by the Company and its Affiliates, whichever is shorter. 
  

 2 

 6. Exercise Upon a Change in Control. This option shall fully vest when (i) there is a
Change in Control (with “Change in Control” being defined as set forth in Section 1.07 of the Company’s amended and restated 2000 Stock Incentive Plan, as such Section may, from time to time be amended) and (ii) the
Participant’s compensation, duties, and performance objectives are changed in any material respect from what they were immediately prior to the Change in Control. A “change in any material respect” shall encompass (a) any
significant diminution in Participant’s position, authority, duties, responsibilities, or reporting relationship, (b) any material reduction in Participant’s then compensation and/or benefits, unless such reduction is an
across-the-board reduction of the compensation and/or benefits of all similarly situated Participants, or (c) any change in Participant’s job location to a site more than 50 miles away from his place of employment within six
(6) months prior to or after the Change in Control and (d) if the Participant’s Option vests based on the achievement of performance objectives and the Participant’s ability to achieve these performance objectives is made
difficult or impossible, as determined by the Compensation Committee, because the Change in Control results in a strategic change in the objectives of the Company or its successor, then in that case the Compensation Committee will determine the
number of shares that should vest based on the extent to which the Participant had achieved his performance objectives prior to the Change in Control. 
  
 7. Notice. Any notice or other communication given pursuant to this Agreement shall be in writing and shall be personally delivered or
mailed by United States registered or certified mail, postage prepaid, return receipt requested, to the following addresses: 
  

			
	If to the Company:	    	Insmed Incorporated
	 	    	4851 Lake Brook Drive
	 	    	P.O. Box 2400
	 	    	Glen Allen, Virginia 23058
		
	If to Participant:	    	  

  

  

  
 Any such notice shall be deemed to
have been given (a) on the date of postmark, in the case of notice by mail, or (b) on the date of delivery, if delivered in person. 
  
 8. Fractional Shares. Fractional shares shall not be issuable hereunder, and when any provision hereof may entitle Participant to a
fractional share such fraction shall be disregarded. 
  
 9.
No Right to Continued Employment. This Option does not confer upon Participant any right to continue in the employ of the Company or an Affiliate, nor shall it interfere in any way with the right of the Company or an Affiliate to
terminate such employment at any time. 
  

 3 

 10. Change in Capital Structure. The terms of this Option shall be adjusted as the
Committee determines is equitably required in the event the Company effects one or more stock dividends, stock split-ups, subdivisions or consolidations of shares or other similar changes in capitalization. 
  
 11. Governing Law. This Agreement shall be governed by the laws
of the Commonwealth of Virginia. 
  
 12. Conflicts.
In the event of any conflict between the provisions of the Plan as in effect on the date hereof and the provisions of this Agreement, the provisions of the Plan shall govern. All references herein to the Plan shall mean the Plan as in effect on the
date hereof. 
  
 13. Participant Bound by Plan.
Participant hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms and provisions thereof. 
  
 14. Binding Effect. Subject to the limitations stated above and in the Plan, this Agreement shall be binding upon and inure to the benefit
of the legatees, distributees, and personal representatives of Participant and the successors of the Company. 
  

 4 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be signed by a duly authorized officer, and
Participant has affixed his signature hereto. 
  

			
	 INSMED INCORPORATED

		
	 By:
	 	  

	
	  
  

 (Participant)

  

 5 

 Attachment A 
  
 Manager, Human Resources 
 Insmed Incorporated 
 P.O. Box 2400 
 Glen Allen, Virginia 23058 
  
 Notice Of Option Exercise 
  
 This letter is notice of my decision to exercise the option that was granted to me on
                    . The exercise will be effective on
                    . I am exercising the option for
                     shares of Common Stock. Enclosed is my check for
$            , which is the aggregate option price for the number of shares for which I am exercising the option. 
  
 Please issue the certificate according to the following instructions: 
  

	Name/entity	stock certificate issued to:
                                        
                                        

 (If entity is a trust, please include date trust was established) 
  

	

					
	Address to send stock certificate:	  	
	  	 
			
	 	  	
	  	 
			
	 	  	
	  	 
			
	 	  	 Sincerely,
	  	 
			
	 	  	  
  

	  	 

  

	Accepted	by:                                      
   

  

	Date:	                                 

  
 Note: The date of exercise cannot be earlier than the date of delivery of this
notice or the postmark, if the notice is mailed. 
  

 6

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