Document:

EX-10.1

 Exhibit 10.1 
 STOCK REPURCHASE AGREEMENT 
 THIS STOCK REPURCHASE AGREEMENT (this
“Agreement”) is entered into as of April 2, 2013, by and between Onvia, Inc., a Delaware corporation (the “Company”), and each of the entities identified on Schedule 1 hereto (each a
“Seller” and collectively, the “Sellers”). 
 W I T N E S S E T H:  

WHEREAS, the Sellers own in aggregate 1,242,781 shares of the Company’s common stock, $.0001 par value per share (the
“Common Stock”); 
 WHEREAS, each of the Sellers have agreed to transfer to the Company, and the Company has
agreed to repurchase, all such shares owned by such Seller (the “Repurchase Shares”) on the terms set forth in this Agreement at the price and upon the terms provided in this Agreement (the “Repurchase
Transaction”); 
 WHEREAS, the Board of Directors of the Company (the “Board”) has approved the
Repurchase Transaction and has approved and declared it advisable for the Company to enter into this Agreement and consummate the transactions contemplated thereby, including the Repurchase Transaction, upon the terms and subject to the conditions
set forth herein and therein; 
 NOW, THEREFORE, in consideration of the foregoing and of the representations, warranties,
covenants and agreements contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, agree as follows: 

1. Repurchase Transaction. 
 (a) Each of the Sellers hereby agrees, severally and not jointly, to transfer, assign, sell, convey and deliver to the Company 100% of their right, title, and interest in and to the Repurchase Shares
indicated on Schedule 1 hereto at a per share purchase price of $3.50 (the “Per Share Purchase Price”). 

(b) The closing of the sale of the Repurchase Shares (the “Closing”) shall take place concurrently with the execution of
this Agreement at the offices of the Company located in Seattle, Washington, or at such other time and place as may be agreed upon by the Company and the Sellers. 
 (c) At the Closing, each Seller shall deliver to the Company or as instructed by the Company duly executed stock powers relating to the applicable Repurchase Shares, as applicable, and the Company agrees
to deliver to the applicable Seller the Per Share Purchase Price for each of the Repurchase Shares transferred by such Seller, or an aggregate purchase price of $4,349,734, by wire transfer of immediately available funds. 

 2. Company Representations. In connection with the transactions contemplated hereby,
the Company represents and warrants to the Sellers that: 
 (a) The Company is a corporation duly organized and existing under
the laws of the State of Delaware. The Company has the requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement and to consummate the transactions contemplated hereby. 

(b) This Agreement has been duly authorized, executed and delivered by the Company and constitutes a valid and binding agreement of the
Company enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization or other laws affecting enforcement of creditors’ rights or by general equitable
principles. 
 (c) The compliance by the Company with this Agreement and the consummation of the transactions herein
contemplated will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the
Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject, (ii) violate any provision of the
certificate of incorporation or by-laws, or other organizational documents, as applicable, of the Company or its subsidiaries or (iii) violate any statute or any order, rule or regulation of any court or governmental agency or body having
jurisdiction over the Company or any of its Subsidiaries or any of their properties; except, in the case of clauses (i) and (iii), as would not impair in any material respect the consummation of the Company’s obligations hereunder or
reasonably be expected to have a material adverse effect on the financial position, stockholders’ equity or results of operations of the Company and its subsidiaries, taken as a whole, in the case of each such clause, after giving effect to any
consents, approvals, authorizations, orders, registrations, qualifications, waivers and amendments as will have been obtained or made as of the date of this Agreement; and no consent, approval, authorization, order, registration or qualification of
or with any such court or governmental agency or body is required for the execution, delivery and performance by the Company of its obligations under this Agreement, including the consummation by the Company of the transactions contemplated by this
Agreement, except where the failure to obtain or make any such consent, approval, authorization, order, registration or qualification would not impair in any material respect the consummation of the Company’s obligations hereunder or reasonably
be expected to have a material adverse effect on the financial position, stockholders’ equity or results of operations of the Company and its subsidiaries, taken as a whole; 

3. Representations of the Sellers. In connection with the transactions contemplated hereby, each of the Sellers severally and not
jointly represents and warrants to the Company that: 
 (a) Such Seller is duly organized and existing under the laws of its
state of organization. 
 (b) All consents, approvals, authorizations and orders necessary for the execution and delivery by
such Seller of this Agreement and for the sale and delivery of the Repurchase Shares to be sold by such Seller hereunder, have been obtained; and such Seller has full right, power and authority to enter into this Agreement and to sell, assign,
transfer and deliver the Repurchase Shares to be sold by such Seller hereunder, except for such consents, approvals, authorizations and orders as would not impair in any material respect the consummation of the Sellers’ obligations hereunder.

  
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 (c) This Agreement has been duly authorized, executed and delivered by such Seller and
constitutes a valid and binding agreement of such Seller, enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization or other laws affecting enforcement of
creditors’ rights or by general equitable principles. 
 (d) The sale of the Repurchase Shares to be sold by such Seller
hereunder and the compliance by such Seller with all of the provisions of this Agreement and the consummation of the transactions contemplated hereby (i) will not conflict with or result in a breach or violation of any of the terms or
provisions of, or constitute a default under, any statute, indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which such Seller is a party or by which such Seller is bound or to which any of the property or assets
of such Seller is subject, (ii) nor will such action result in any violation of the provisions of (x) any organizational or similar documents pursuant to which such Seller was formed or (y) any statute or any order, rule or regulation
of any court or governmental agency or body having jurisdiction over such Seller or the property of such Seller. 
 (e) As of
the date hereof and immediately prior to the delivery of the Repurchase Shares to the Company at the Closing, such Seller holds good and valid title to the Repurchase Shares or a securities entitlement in respect thereof, and holds, and will hold,
such Repurchase Shares free and clear of all liens, encumbrances, equities or claims; and, upon delivery of such Repurchase Shares and payment therefor pursuant hereto, assuming that the Company has no notice of any adverse claims within the meaning
of Section 8-105 of the Delaware Uniform Commercial Code as in effect in the State of Delaware from time to time (the “UCC”), the Company will acquire good and valid title to the Repurchase Shares, free and clear of all liens,
encumbrances, equities or claims, as well as a valid security entitlement (within the meaning of Section 8-102(a)(17) of the UCC) to such Repurchase Shares purchased by the Company, and no action (whether framed in conversion, replevin,
constructive trust, equitable lien or other theory) based on an adverse claim (within the meaning of Section 8-105 of the UCC) to such security entitlement may be asserted against the Company. 

(f) Such Seller (either alone or together with its advisors) has such knowledge and experience in financial or business matters that it
is capable of evaluating the merits and risks of the Repurchase Transaction. Such Seller has had the opportunity to ask questions and receive answers concerning the terms and conditions of the Repurchase Transaction and the Repurchase Shares and has
had full access to such other information concerning the Repurchase Shares and the Company as it has requested. Such Seller has received all information that it believes is necessary or appropriate in connection with the Repurchase Transaction. Such
Seller is an informed and sophisticated party and has engaged, to the extent such Seller deems appropriate, expert advisors experienced in the evaluation of transactions of the type contemplated hereby. Such Seller acknowledges that such Seller has
not relied upon any express or implied representations or warranties of any nature made by or on behalf of the Company, whether or not any such representations, warranties or statements were made in writing or orally, except as expressly set forth
for the benefit of such Seller in this Agreement. 

  
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 (g) Such Seller has received and carefully reviewed the Annual Report of the Company on Form
10-K for the fiscal year ended December 31, 2012 and all subsequent public filings of the Company with the Securities and Exchange Commission (the “SEC”), other publicly available information regarding the Company, and such
other information that it and its advisers deem necessary to make its decision to proceed with the Repurchase Transaction; 

(h) Such Seller acknowledges and understands that the Company and its officers and affiliates may possess material non-public information
not known to Seller that may impact the value of the Securities (the “Information”), that the Company is unable to disclose to Seller, including without limitation, (i) information received by principals and employees of the
Company in their capacities as directors, officers, significant stockholders and/or affiliates of the Company, (ii) information otherwise received from the Company on a confidential basis, and (iii) information received on a privileged
basis from the attorneys and financial advisers representing the Company and its Board. Such Seller understands, based on its experience, the disadvantage to which Seller is subject due to the disparity of information between Seller and the Company.
Notwithstanding this, Seller has deemed it appropriate to engage in the Repurchase Transaction; 
 (i) Such Seller agrees that
the Company Releasees (as defined below) shall have no liability to any Seller Releasor (as defined below), whatsoever due to or in connection with the Company’s use or non-disclosure of the Information, and such Seller hereby irrevocably
waives any claims that it might have based on the failure of the Company or any of its affiliates to disclose the Information, and such Seller hereby irrevocably waives any claims that it might have based on any such acts or omissions. 

4. Mutual Release of All Claims. 
 (a) Release by the Company. The Company, on behalf of itself and its successors, affiliates, subsidiaries, officers, directors, partners, members, managing members, managers, trustees,
beneficiaries, employees, agents, representatives, attorneys and any other advisors or consultants (the “Company Releasors”), hereby do remise, release and forever discharge, and covenant not to sue or take any steps to further any
claim, action or proceeding against, any of the Sellers and their respective successors, affiliates, subsidiaries, officers, directors, partners, members, managing members, managers, trustees, beneficiaries, employees, agents, representatives,
attorneys and any other advisors or consultants (the “Seller Releasees”), and each of them, from and in respect of any and all claims and causes of action, whether based on any federal, state or foreign law or right of action,
direct, indirect or representative in nature, foreseen or unforeseen, matured or unmatured, known or unknown, which all or any of the Company Releasors have, had or may have against the Seller Releasees, or any of them, of any kind, nature or type
whatsoever, up to the date of this Agreement, except that the foregoing release does not release any rights and duties under this Agreement or any claims the Company Releasors may have for the breach of any provisions of this Agreement. 

(b) Release by the Sellers. Each of the Sellers, on behalf of itself and its respective successors, affiliates, subsidiaries,
officers, directors, partners, members, managing members, managers, trustees, beneficiaries, employees, agents, representatives, attorneys and any other advisors or consultants (the “Seller Releasors”), hereby do remise, release and
forever discharge, 

  
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and covenant not to sue or take any steps to further any claim, action or proceeding against the Company and its successors, affiliates, subsidiaries, officers, directors, partners, members,
managing members, managers, trustees, beneficiaries, employees, agents, representatives, attorneys and any other advisors or consultants (the “Company Releasees”), and each of them, from and in respect of any and all claims and
causes of action, whether based on any federal, state or foreign law or right of action, direct, indirect or representative in nature, foreseen or unforeseen, matured or unmatured, known or unknown, which all or any of the Sellers have, had or may
have against the Company Releasees, or any of them, of any kind, nature or type whatsoever, up to the date of this Agreement, except that the foregoing release does not release any rights and duties under this Agreement or any claims the Seller
Releasors may have for the breach of any provisions of this Agreement. 
 (c) Transfer and Assignment. Each of the
parties to this Agreement represents and warrants that it has not heretofore transferred or assigned, or purported to transfer or assign, to any person, firm, or corporation any claims, demands, obligations, losses, causes of action, damages,
penalties, costs, expenses, attorneys’ fees, liabilities or indemnities herein released. Each of the parties represents and warrants that neither it nor any assignee has filed any lawsuit against the other. 

(d) No Limitations on Releases. The parties to this Agreement waive any and all rights (to the extent permitted by state law,
federal law, principles of common law or any other law) which may have the effect of limiting the releases as set forth in this Section 4. Without limiting the generality of the foregoing, the parties acknowledge that there is a risk that the
damages which they believe they have suffered or will suffer may turn out to be other than or greater than those now known, suspected, or believed to be true. In addition, the cost and damages they have incurred or have suffered may be greater than
or other than those now known. Facts on which they have been relying in entering into this Agreement may later turn out to be other than or different from those now known, suspected or believed to be true. The parties acknowledge that in entering
into this Agreement, they have expressed that they agree to accept the risk of any such possible unknown damages, claims, facts, demands, actions, and causes of action. 
 (e) Releases Binding, Unconditional and Final. The parties hereby acknowledge and agree that the releases and covenants provided for in this Section 4 are binding, unconditional and final as
of the date hereof. 
 5. Notices. All notices, demands or other communications to be given or delivered under or by
reason of the provisions of this Agreement will be in writing and will be deemed to have been given when delivered personally, mailed by certified or registered mail, return receipt requested and postage prepaid, or sent via a nationally recognized
overnight courier, or sent via facsimile to the recipient. Such notices, demands and other communications will be sent to the address indicated below: 
 To the Sellers: 
 c/o Symphony Technology Group, LLC 

2475 Hanover Street 
 Palo Alto, CA 94304 
 Attention: Chief Financial Officer 

Facsimile: (650) 935.9501 
 E-mail: steve@symphonytg.com 

  
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 With a copy to (which shall not constitute notice): 

Shearman & Sterling LLP 
 Four Embarcadero Center, Suite 3800 
 San Francisco, CA 94111 

Attention: Steve L. Camahort, Esq. 
 Facsimile: (415) 616 1440 
 E-mail: steve.camahort@shearman.com 

To the Company: 

Onvia, Inc. 

509 Olive Way, Suite 400 
 Seattle, Washington 98101 
 Attention: Henry G. Riner 

Facsimile: (206) 373-8961 
 E-mail: HRiner@onvia.com 
 With a copy to (which shall not constitute
notice): 
 Alston & Bird LLP 
 The Atlantic Building 
 950 F Street, N.W. 

Washington DC 20004-1404 
 Attention: Keith E. Gottfried, Esq. 
 Facsimile: (202) 654-4879

 E-mail: Keith.Gottfried@alston.com 
 or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. 

6. Miscellaneous. 
 (a) Survival of Representations and Warranties. All representations and warranties contained herein or made in writing by any party in connection herewith shall survive the execution and
delivery of this Agreement and the consummation of the transactions contemplated hereby. 

  
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 (b) Severability. Whenever possible, each provision of this Agreement will be
interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal, or unenforceable in any respect under any applicable law or rule in any jurisdiction, such
invalidity, illegality, or unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed, and enforced in such jurisdiction as if such invalid, illegal, or unenforceable provision had
never been contained herein. 
 (c) Complete Agreement. This Agreement and any other agreements ancillary thereto and
executed and delivered on the date hereof embody the complete agreement and understanding between the parties and supersede and preempt any prior understandings, agreements, or representations by or among the parties, written or oral, which may have
related to the subject matter hereof in any way. 
 (d) Counterparts. This Agreement may be executed in separate
counterparts, each of which is deemed to be an original and all of which taken together constitute one and the same agreement. In the event that any signature to this Agreement is delivered by facsimile transmission or by e-mail delivery of a
portable document format (.pdf or similar format) data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or
“.pdf” signature page were an original thereof. 
 (e) Assignment; Successors and Assigns. Neither this
Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in whole or in part, by any of the parties without the prior written consent of the other parties. Subject to the preceding sentence, this Agreement shall bind
and inure to the benefit of and be enforceable by the Sellers and the Company and their respective successors and permitted assigns. Any purported assignment not permitted under this paragraph shall be null and void. 

(f) No Third Party Beneficiaries or Other Rights. This Agreement is for the sole benefit of the parties and their successors and
permitted assigns and nothing herein express or implied shall give or shall be construed to confer any legal or equitable rights or remedies to any person other than the parties to this Agreement and such successors and permitted assigns; provided,
however, that the Seller Releasees and the Company Releasees shall be third party beneficiaries with respect to Sections 3(i) and 4 hereof. 
 (g) Governing Law; Jurisdiction. The Agreement and all disputes arising out of or related to this agreement (whether in contract, tort or otherwise) will be governed by and construed in accordance
with the laws of the State of Delaware. EACH OF THE PARTIES TO THIS AGREEMENT IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT. Each of the parties (i) irrevocably
submits to the personal jurisdiction of any state or federal court sitting in Wilmington, Delaware, as well as to the jurisdiction of all courts to which an appeal may be taken from such courts, in any suit, action or proceeding relating to or
arising out of, under or in connection with this Agreement, (ii) agrees that all claims in respect of such suit, action or proceeding, whether arising under contract, tort or otherwise, shall be brought, heard and determined exclusively in the
Delaware Court of Chancery (provided that, in 

  
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the event that subject matter jurisdiction is unavailable in that court, then all such claims shall be brought, heard and determined exclusively in any other state or federal court sitting in
Wilmington, Delaware), (iii) agrees that it shall not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from such court, and (iv) agrees not to bring any action or proceeding relating to or arising
out of, under or in connection with this Agreement or the Company’s business or affairs in any other court, tribunal, forum or proceeding. Each of the parties waives any defense of inconvenient forum to the maintenance of any action or
proceeding brought in accordance with this paragraph. Each of the parties agrees that service of any process, summons, notice or document by U.S. registered mail to its address set forth herein shall be effective service of process for any action,
suit or proceeding brought against it in accordance with this paragraph, provided that nothing in the foregoing sentence shall affect the right of any party to serve legal process in any other manner permitted by law. 

(h) Representation by Counsel. Each party hereto acknowledges to the other that it has been represented by independent legal
counsel of its own choice throughout all of the negotiations that preceded the execution of this Agreement. Each party further acknowledges that it and its counsel have had adequate opportunity to make whatever investigation or inquiry they may deem
necessary or desirable in connection with the subject matter of this Agreement prior to the execution hereof. 
 (i)
Mutuality of Drafting. The parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by
the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of the Agreement. 
 (j) Construction. For purposes of this Agreement, whenever the context requires: the singular number shall include the plural, and vice versa; the masculine gender shall include the feminine and
neuter genders; the feminine gender shall include the masculine and neuter genders; and the neuter gender shall include the masculine and feminine genders. 
 (k) Remedies. The parties hereto agree and acknowledge that money damages will not be an adequate remedy for any breach of the provisions of this Agreement, that any breach of the provisions
of this Agreement shall cause the other parties irreparable harm, and that any party may in its sole discretion apply to any court of law or equity of competent jurisdiction (without posting any bond or deposit) for specific performance or other
injunctive relief in order to enforce, or prevent any violations of, the provisions of this Agreement. 
 (l) Amendment and
Waiver. The provisions of this Agreement may be amended, modified or waived only with the prior written consent of the Sellers and the Company. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of
any other provisions of this Agreement, nor shall any waiver constitute a continuing waiver. Moreover, no failure by any party to insist upon strict performance of any of the provisions of this Agreement or to exercise any right or remedy arising
out of a breach thereof shall constitute a waiver of any other provisions or any other breaches of this Agreement. 

  
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 (m) Further Assurances. Each of the Company and the Sellers shall execute and deliver
such additional documents and instruments and shall take such further action as may be necessary or appropriate to effectuate fully the provisions of this Agreement. 
 (n) Attorneys’ Fees and Other Expenses. Each of the Company and the Sellers shall bear their own attorneys’ fees and other expenses in connection with the drafting, negotiation, execution
and delivery of this Agreement and the consummation of the transactions contemplated hereby. 
 [Signatures appear on
following page.] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Stock Repurchase Agreement as of
the date first written above. 
  

			
	Company:
	
	ONVIA, INC.
		
	By:	 	 /s/ Henry G. Riner

	Name:	 	Henry G. Riner
	Title:	 	President and Chief Executive Officer
	
	Sellers:

  

	
	STG III, L.P.
	
	By: STG UGP, LLC, its general partner
	By: STG III GP, L.P., its general partner
	By: /s/ Stephen Henkenmeier
	Name: Stephen Henkenmeier
	Title: Chief Financial Officer

 [Signature Page to Stock Repurchase Agreement] 

  
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	STG III-A, L.P.
		
	By:	 	STG III GP, L.P., its general partner
	By:	 	STG UGP, LLC, its general partner
	By:	 	/s/ Stephen Henkenmeier
	Name:	 	Stephen Henkenmeier
	Title:	 	Chief Financial Officer

 [Signature Page to Stock Repurchase Agreement] 

  
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 SCHEDULE A 

 

			
	 Seller
	  	Repurchase Shares
	 STG III, L.P.
	  	1,097,251
	 STG III-A, L.P.
	  	145,530
	 Total
	  	1,242,781

  
 12EX-10.1

 Exhibit 10.1 
 

 
 January 31, 2013 
 Dear Isobel: 
 Thank you for your interest in working with Annie’s, Inc. (the
“Company”). On behalf of the members of the Company’s management team, I want to convey how much we appreciate the time, energy, and enthusiasm that you have invested in the interview process. 

We believe that the breadth of your past experience, your personal and professional style, and your desire to become part of a focused and fast-moving
management team are all great attributes for our business. We think your skills can help us take the Company to new higher plateaus of performance and growth in the years ahead as we continue to drive our Annie’s mission. I am very excited to
offer you the opportunity to join our team. 
 This letter outlines the key terms of your employment by the Company. Your employment by
the Company is “at will,” which means that it is not for any specified period of time and either you or the Company can terminate your employment at any time and for any reason, with or without Cause (as defined below). This
offer is contingent on our satisfactory completion of standard background checks and also on your successfully passing a pre-employment drug and alcohol screening test, as well as proof of your eligibility to legally work in the United States at the
commencement of your employment. This offer will be null and void ab initio if you do not commence employment with the Company on the Start Date set forth below. 
 Position / Title: General Counsel 
 Reports To: John Foraker, Chief Executive
Officer 
 Start Date: April 1, 2013 
 Annual Base Salary: $250,000 (full-time), payable in accordance with the Company’s normal payroll policies. Your base salary will be reviewed upon the anniversary date of your hire.

 Classification: You will be classified as an “exempt” employee, which means you will be paid on a salary basis and you will
not be entitled to overtime pay. 
 Bonus Potential: Annual Bonus potential target of 35% of your base salary. Whether or not you receive
a bonus award will be dependent upon the achievement of both Company and individual performance objectives. Your manager will establish objectives and performance criteria with you as these are developed in concert with the FY 2014 operating plans.
Your FY 2014 bonus will be based upon base compensation earned in the FY 2014 period. In order to be eligible and entitled to receive any Annual Bonus payment, you must be employed by the Company on the date the Annual Bonus is paid, except to the
extent expressly provided for to the contrary below. 
 Business Expense Reimbursement: The Company will reimburse you for your customary
and reasonable business expenses, upon submission of appropriate documentation, in accordance with the Company’s policies. 

  
  

Annie’s, Inc. | 1610 Fifth Street, Berkeley, CA 94710 | (510) 558-7500 

 
  

			
	Isobel Jones	  	Offer Letter – January 31, 2013

  

 Equity Incentives: Subject to approval by the Company’s Compensation Committee on or prior
to your Start Date (any such approval which may be evidenced, in the Compensation Committee’s discretion, by unanimous written consent of the Compensation Committee), pursuant to the Company’s Omnibus Incentive Plan (the “Plan”),
a copy of which is attached, effective on your Start Date you will be awarded (1) a non-qualified stock option to purchase shares of our Common Stock with a ten-year term, subject to earlier forfeiture pursuant to the Plan and terms of the
stock option grant, and (2) performance share units. The stock option will have an exercise price equal to the closing price of our Common Stock on the NYSE on the grant date (i.e,, your Start Date). The number of shares underlying the stock
option will have a Black-Scholes (or other valuation method selected by the Company) value of $60,000 on your Start Date. The performance share units will be based upon a target number of our shares of Common Stock determined by dividing $60,000 by
the closing price of our Common Stock on the NYSE on the grant date (i.e,, your Start Date). Upon your execution of the Proprietary Information and Confidentiality Agreement described below, we will provide to you with term sheets describing the
vesting and other terms of the stock option grant and performance share unit award, but the actual terms of the stock option and performance share units will be as approved by the Compensation Committee and set forth in Award Agreements that will be
provided to you and the Plan. 
 Benefits: Full-time employee benefits consistent with benefits granted other comparable employees. You
will be eligible for health benefits upon your Start Date. You will be eligible to participate in the Company’s 401(k) program upon your Start Date. 
 Paid Time Off: The Company uses a paid time off (PTO) system under which days can be taken for any personal purpose: vacation, sickness, family emergency, or other. Initial PTO allowance will
accrue at the rate of four weeks per annum and the use of PTO is subject to the Company’s applicable PTO policies, including the maximum cap on PTO accrual. 
 Severance Benefits: Upon termination of your employment by Company without Cause or your resignation with Good Reason, subject to your execution and delivery to the Company of a general release
satisfactory to the Company that has become effective and non-revocable within 60 days following the date of your termination, you will be entitled to receive the following payments from the Company: 

- 6 months’ base salary, paid in accordance with Company’s general payroll practices (the “Severance Payments”);
provided, that the first payment of the Severance Payments will be made on the 60th day after your date of termination, and will include payment of any amount of the Severance Payments that were otherwise due prior thereto; and 
 - a pro-rated Annual Bonus for the fiscal year of termination based on actual days worked during the fiscal year and based on actual performance, any such amount to be paid when bonuses are paid to other
executive offers for such fiscal year, but in no event later than March 15 of the calendar year following the calendar year of termination. 
 “Cause” means: (1) your failure to perform your material employment-related duties (other than any such failure as a result of the your “Disability” (as defined below) or death),
which failure has not been cured by you within 30 business days of your receipt of written notice of such failure from the Company, (2) your engaging in misconduct that has caused or is reasonably expected to result in material injury to, or
materially impair the goodwill of, the Company or any of its affiliates, (3) your knowing and intentional violation of any material Company policy; (4) your personal dishonesty or breach of fiduciary duty; (5) your indictment or
conviction of, or entering a plea of guilty or nolo contendere to, a crime that constitutes a felony, or (6) your breach of any of your material obligations under any written agreement or covenant with the Company or any of its
affiliates (including, but not limited to, this offer letter and any other written covenant or agreement with the Company or any of its subsidiaries not to disclose any information pertaining to the Company or any of its subsidiaries or not to
compete or interfere with the Company or any of its subsidiaries). For the purpose of this definition, “Disability” has the meaning provided for in the long term disability plan of the Company in which you participate, and if no such plan
exists, means your inability, due to physical or mental illness or incapacity, to perform your material duties, with reasonable accommodation after engaging in an interactive process with the Company, for a period of more than 120 days in any
365-day period, and in accordance with applicable law. 

  
 - 2 -

			
	Isobel Jones	  	Offer Letter – January 31, 2013

  

 “Good Reason” means: (1) a material and adverse reduction in your authority, duties or
responsibilities without your prior consent (and at a time when there are no circumstances pending that would permit the Company to terminate you for Cause); (2) a material reduction of your base salary, unless the base salary reduction is part
of a general reduction applied to all executive employees; (3) the relocation of your primary worksite more than fifty (50) miles from the location of the Company’s headquarters as of your Start Date without your prior consent; or
(4) any material breach or material violation of a material provision of this offer letter by the Company (or any successor) to the Company. Notwithstanding the foregoing, before you may resign for Good Reason, (A) you must provide the
Company with written notice within ninety (90) days of the initial event that you believe constitutes “Good Reason” specifically identifying the facts and circumstances claimed to constitute the grounds for your resignation for Good
Reason and the proposed termination date (which will not be less than forty-five (45) days after the giving of written notice hereunder by you to the Company), and (B) the Company must have an opportunity of at least thirty (30) days
following delivery of such notice to cure the Good Reason condition and the Company must have failed to cure such Good Reason condition during that 30 day period. 
 Proprietary Info. and Confid. Agrmt.: You agree that on or prior to your Start Date you will execute the Company’s Proprietary Information and Confidentiality Agreement, which is attached.

 Representations: You represent that you are not under any contractual or other obligation which would make it unlawful for you to work
for the Company as described in this letter, that if you are obligated to keep confidential the proprietary information of prior employers or other parties that you will do so and will not disclose such information to us, and that you are lawfully
eligible to work in the United States. 
 Withholding/ Taxes. The Company may withhold from any amounts payable to you under this offer
letter such Federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation. Although the Company does not guarantee the tax treatment of any payments to you, the intent of the parties is that payments
and benefits under this offer letter comply with, or be exempt from, Section 409A of the Internal Revenue Code of 1986, as amended (“Code Section 409A”), and, accordingly, to the maximum extent permitted, this offer letter will
be interpreted in accordance with the foregoing. Notwithstanding the foregoing, the intent of the parties is that the Severance Payments be exempt from Code Section 409A), and, accordingly, to the maximum extent permitted, this offer letter
will be interpreted in accordance with the foregoing. Any taxable reimbursement of costs and expenses by the Company will be made in accordance with the Company’s applicable policy but in no event later than December 31 of the calendar
year next following the calendar year in which the expenses to be reimbursed are incurred. With regard to any provision in this offer letter that provides for reimbursement of expenses or in-kind benefits, except as permitted by Code
Section 409A, (i) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit, and (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any
taxable year will not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, provided that the foregoing clause (ii) will not be violated with regard to expenses reimbursed under any
arrangement covered by Section 105(b) of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect. With regard to any installment payments provided for under this offer letter, each
installment thereof will be deemed a separate payment for purposes of Code Section 409A. 
 Notices. Any notice to be given
hereunder will be in writing and will be deemed to have been given when received or, when deposited in the U.S. mail, certified or registered mail, postage prepaid, to you at your last address on the Company’s records, and to the Company at
Annie’s, Inc., 1610 Fifth Street, Berkeley, California, 94710, Attn: Chief Financial Officer. 
 This offer letter comprises the entire
agreement between you and the Company regarding your employment relationship and it supersedes any prior agreements or representations between the parties. By signing below you represent and agree that you are not relying on any representations or
promises of 

  
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	Isobel Jones	  	Offer Letter – January 31, 2013

  

 
any kind that are not set forth in this offer letter. The terms of your at-will employment relationship can only be changed by a written agreement expressly amending your at-will employment and
signed by you and a duly authorized officer of the Company. The provisions of this offer letter will be deemed severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions
hereof. This offer letter will be governed by and construed in accordance with the laws of the State of Delaware applicable to agreements made and to be wholly performed within that State, without regard to the conflict of laws provisions of any
jurisdiction which would cause the application of any law other than that of the State of Delaware. 
 If you are in agreement with the terms as
set forth in this letter, please sign and return the enclosed copy of this letter. As you know, it is important that the Company fill this important position quickly, so we request that you provide us your formal acceptance of this letter by 5:00 PM
on February 5, 2013. 
 Isobel, we look forward to working with you. 

 

	
	Sincerely,
	
	/s/ John Foraker
	John Foraker
	Chief Executive Officer

  

							
	 ACCEPTED AND AGREED:
	 		 		 	
				
	 /s/ Isobel Jones
	 		 	 2/2/13
	 	
	Isobel Jones	 		 	Date	 	

  
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