Document:

EX-10.12

 Exhibit 10.12 
  

 
 Personal & Confidential 

September 13th, 2016 

Eryk Spytek 
 Dear Eryk Spytek: 

It is my pleasure to offer you the position of General Counsel & Corporate Secretary, Lamb Weston with an effective date of 10/3/2016. The details of
this offer are as follows: 
  

	1)	Annual Salary: $400,000 payable bi-weekly, less applicable tax withholding. 

  

	2)	Annual Incentive Plan: You will be eligible to participate in the annual incentive program, in accordance with the plan provisions as they exist from time-to-time. The incentive opportunity will be targeted at
70% of your annual base salary, prorated from your hire date. You will receive plan documents outlining the specifics of the incentive plan. 

  

	3)	Sign-On: You will receive a sign-on bonus of $40,000, less required withholdings, payable within 30 days of your start date. Should your employment terminate voluntarily or involuntarily, except for reasons
unrelated to employee performance and behavior, such as position elimination, within two years, 100% of this payment will be owed to the company. 

  

	4)	Restricted Stock Units: Upon the approval of the Human Resources Committee of the Board of Directors, you will receive a grant of restricted stock units (RSUs) valued at $600,000 on the date of grant, subject to
the provisions of the applicable Stock Plan. These RSUs are scheduled to fully vest on the third anniversary of the grant date. Dividend equivalents are not earned or paid during the restriction period. 

 

	5)	Long Term Incentive: You will be eligible to participate in the company’s executive long term incentive program. All grant recommendations are based upon individual and company performance and are subject to
approval from the HR Committee. The annual grant value for this position is currently targeted at $600,000. 

  

	6)	Vacation: You will be eligible for four weeks of vacation. 

  

	7)	Relocation Package: You will be eligible for the ConAgra Relocation Program, which includes a transition support payment in accordance with the Tier 3 relocation guidebook. This is considered compensation. This
payment will be tax assisted. The attached Relocation Benefits Summary outlines the details of this program. 

  

	8)	Change-in-Control: In the event: 

  

	 	(1)	Of a sale of the Lamb Weston business to a third party prior to its spin-off from ConAgra Foods, Inc.; 

  

	 	(2)	The spin-off of the Lamb Weston business from ConAgra Foods, Inc. does not occur on or before December 31, 2016; or 

  

	 	(3)	The spin-off of the Lamb Weston business from ConAgra Foods, Inc. does occur but a Change in Control of Lamb Weston Holdings, Inc. occurs prior to the date such company’s Board of Directors (the “Board”)
approves a change in control severance program for the benefit of executive officers, 

 you will receive a lump sum payment equal to two times your Target Cash Compensation. “Target Cash
Compensation” shall equal the sum of your annual base salary plus your target bonus as a percentage of your annual base salary for the fiscal year in which the triggering event in clause (1)-(3) occurs, provided you experience an
involuntary separation from service (as described in Treasury Regulation Section 1.409A-1(n)(1)) without Cause and such involuntary separation from service occurs within eighteen (18) months following the applicable event. The lump sum payment
will be made within 60 days following your separation from service. 
 Change in Control of Lamb Weston Holdings, Inc. means one of the following events:
(1) individuals who constitute the Board immediately following the spin-off cease to constitute at least a majority of the Board, with exceptions made for anyone becoming a director with the approval of a majority of the incumbent directors; or
(2) consummation of a reorganization, merger or consolidation in which Lamb Weston Holdings, Inc.’s stockholders do not retain more than 50% of the voting power of the resulting company. 

“Cause” means personal dishonesty, incompetence, willful misconduct, any breach of fiduciary duty involving personal profit, intentional failure to
perform stated duties, willful violation of any law, rule, or regulation (other than traffic violations or similar offenses) or final cease-and-desist order, the willful commission of any act that in the judgment of the Board would likely cause
substantial economic damage to Lamb Weston Holdings, Inc. or substantial injury to its business reputation, or material breach of any provision of any agreement between you and Lamb Weston Holdings, Inc. or ConAgra Foods, Inc. 

 

	9)	Retirement Programs and Benefits: You will be eligible to participate in the ConAgra Foods, Inc. Retirement Income Savings Plan according to the plan provisions. 

 

	10)	Employee Benefits: Your salary will be supplemented with the benefit package described in the information enclosed. 

  

	11)	Pre-Employment Screening: This offer is contingent upon your successful completion of our pre-employment drug screening and background screening. 

We look forward to your favorable response, which you can indicate by signing and returning a copy of this letter. Eryk, I look forward to your joining the
team. I am confident you will have the opportunity to find a successful and personally rewarding career at ConAgra Foods. Please call if you have any questions about our offer. 

Sincerely, 
 Tom Werner 

CEO, Lamb Weston 
 ConAgra Foods, Inc. 

JD 
 Enclosures 

cc: Gabriela Gutierrez 
 Offer Acceptance

 I accept this offer of employment. In so doing, I understand and agree that my employment with ConAgra Foods is at-will, that I am not employed for
any specified duration and that my employment may be terminated by myself, or the Company at any time, with or without cause and with or without notice 
  

			
	 /s/ Eryk Spytek
	  	 15 September 2016

	Signature	  	DateEX-10.13

 Exhibit 10.13 

INTERIM POSITION AND NON-COMPETE AGREEMENT 

This Interim Position and Non-Compete Agreement (the “Agreement”) is made and entered into on this 28th day of September, 2016 by
and between ConAgra Foods, Inc. (the “Company”) and John Gehring (“you” or “Gehring”), collectively the “Parties” and is effective on September 28, 2016 (the “Effective Date”). As of the Effective
Date, this Agreement supersedes the Transition and Non-Competition Agreement between the Company and Gehring dated August 29, 2016 and any previous versions. The Company and Gehring hereby mutually covenant and agree as follows: 

 

	 	(1)	Position, Term, Reporting, Location, Schedule. 

  

	 	a.	The Company hereby employs Gehring and Gehring hereby accepts employment with the Company as Vice President and interim Chief Financial Officer (“CFO”) of Lamb Weston. Gehring will be employed by ConAgra
Foods, Inc. until the last business day immediately preceding the completion of the Lamb Weston spin off (the date on which the completion occurs, the “Spin-Off Date”), subject to earlier termination in accordance with Section 3 of
the Agreement. Effective as of the last business day immediately preceding the Spin-Off Date (the “Transfer Date”), Gehring will be employed by Lamb Weston. As Vice President and interim CFO of Lamb Weston, Gehring will have no further
formal responsibilities related to the transition of the ConAgra Foods, Inc. Chief Financial Officer role. Gehring shall be the principal financial officer for Lamb Weston. 

 

	 	b.	Gehring’s employment under this Agreement shall commence on the Effective Date and shall continue until December 15, 2016, unless terminated on an earlier date in accordance with Section 3 of the
Agreement (such period, the “Term”). As used in this Agreement, “Employer” means the Company prior to the Transfer Date and means Lamb Weston on and after the Transfer Date. The occurrence of the Transfer Date or Spin-Off Date
after December 15, 2016 shall not extend the Term. 

  

	 	c.	Gehring shall report to ConAgra’s Chief Executive Officer, Sean Connolly, until the Spin-Off Date. Effective as of the Spin-Off Date, Gehring shall report to Chief Executive Officer of Lamb Weston, Thomas Werner.
Gehring will not have any direct reports until the Lamb Weston Controller commences employment, at which time s/he will report to Gehring. 

  

	 	d.	Gehring will be officed in Omaha, Nebraska. Gehring will commute to Boise, Idaho as necessary to perform the duties of his position. Gehring will be entitled to use Company-owned or Lamb-Weston-owned corporate aircraft
for his commute or, if corporate aircraft is unavailable, the highest class of service available on the commercial flight of his choice. 

  

	 	e.	Gehring will be expected to work 80 percent of his current schedule. The Company will honor Gehring’s family commitments related to his daughter’s college visits. Gehring will be entitled to participate in
company-recognized holidays. 

  

	 	(2)	Compensation, Benefits and Related Matters 

  

	 	a.	Salary. During the Term, the Company shall continue to pay Gehring at the current rate of his base annual salary of Six Hundred Fifty Thousand Dollars ($650,000.00), less applicable taxes and withholdings
required by law or deductions authorized by Gehring pursuant to the Company’s normal payroll procedures. 

	 	b.	Benefits. During the Term and prior to the Spin-Off Date, Gehring shall continue to participate in all Company benefit plans, as in effect or amended from time to time, in which he participates as of the date of
this Agreement, subject to the terms of such benefit plans; provided that Gehring will not be eligible for new equity grants in the fiscal year 2017 grant cycle. On and after the Spin-Off Date during the Term, except with respect to equity
awards, Gehring shall cease active participation in the Company’s benefit plans (including The ConAgra Foods, Inc. Pension Plan for Salaried Employees) and shall be eligible to participate in all Lamb Weston benefit plans, as in effect or
amended from time to time, in which officers of Lamb Weston participate. In connection with the spin off of Lamb Weston, the liabilities associated with Gehring’s accounts under the ConAgra Foods, Inc. Amended and Restated Non-Qualified CRISP
Plan and the ConAgra Foods, Inc. Amended and Restated Voluntary Deferred Compensation Plan will not be transferred to Lamb Weston or any nonqualified deferred compensation plan of Lamb Weston. 

 

	 	c.	Equity Awards. Gehring’s outstanding equity awards granted under any of the ConAgra Foods 2009 Stock Plan, the ConAgra Foods, Inc. 2014 Stock Plan, the ConAgra Foods, Inc. 2008 Performance Share Plan, and or
other applicable plans of the Company under which Gehring received an equity award (the “Company Equity Awards”) shall continue in effect under their existing terms until the Spin-Off Date. In connection with the spin off, the Company
Equity Awards will be equitably adjusted to reflect the spin off substantially in the manner determined by the Company’s Human Resources Committee, provided that the Company Equity Awards will remain awards under the Company Equity Plans
and will not transfer to Lamb Weston equity plans, and provided further that on and after the Spin-Off Date service or employment requirements under the Company Equity Awards will be based on Gehring’s service or employment with Lamb
Weston. Where applicable under the terms of the Company Equity Awards, Gehring shall remain eligible for “early retirement” equity award treatment upon his separation from service with Lamb Weston. 

 

	 	d.	Annual Bonus. During the Term and prior to the Spin-Off Date, Gehring shall continue to participate in the Company’s FY17 Management Incentive Plan (the “ConAgra MIP”). Gehring’s ConAgra MIP
award shall be based on the number of days employed with the Company during FY17 through the Spin-Off Date, and shall be based on a target of 100% of salary actually received from the Company during FY17 and the funded percentage for then-active
members of the Company’s senior leadership team (i.e., no individual modifier will be applied to reduce the award). Gehring’s ConAgra MIP award, if earned, shall be payable at the time other ConAgra MIP awards are paid for
other eligible participants. On and after the Spin-Off Date during the Term, Gehring shall be eligible to participate in the Lamb Weston FY17 Management Incentive Plan (the “Lamb Weston MIP”). Gehring’s Lamb Weston MIP award shall be
based on the number of days employed with Lamb Weston on and after the Spin-Off Date and shall be subject to all other terms of the Lamb Weston MIP. 

  

	 	(3)	Termination of Agreement 

  

	 	a.	The Employer may terminate this Agreement at any time, by giving written notice of such termination to Gehring, upon one of the following events: (i) the Company decides not to go forward with the spin off of Lamb
Weston; (ii) upon a mutually agreed upon date following the identification and onboarding of a permanent Lamb Weston Chief Financial Officer; (iii) the knowing engagement of Gehring in serious misconduct that is monetarily or otherwise
materially injurious to the Company or Lamb Weston; (iv) the failure of Gehring to follow any reasonable or lawful directive of the Board of Directors of the Employer; (v) the admission to, conviction of, or entering of a plea of nolo
contendere to any felony or any lesser crime involving moral turpitude, fraud, embezzlement or theft by Gehring: (vi) act by Gehring of fraud, embezzlement, theft or intentional misrepresentation in connection with Gehring’s duties or in
the course of Gehring’s engagement with the Company or Lamb Weston; (vii) the material breach of 

  
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any Company or Lamb Weston policies or rules or any provision of this Agreement; and (viii) any breach of Gehring’s fiduciary responsibility to the Company or Lamb Weston. In the event
of a termination for one of the above-listed reasons, the Employer shall pay to Gehring the compensation payable to Gehring for the payroll period in which such termination occurs, prorated to the day of termination. A termination of the Agreement
for one of the above-listed reasons will not cause Gehring to forfeit any benefits to which he is otherwise entitled to receive after his termination of employment by reason of the terms of such benefits. 

 

	 	b.	Gehring may terminate this Agreement at any time by giving written notice of such termination to the Employer at least thirty (30) days prior to the effective date of such termination; provided, however, that such
period may be reduced by the Employer in its sole and absolute discretion. During such period, it is understood Gehring shall continue to perform relevant duties for the Employer and will assist the Employer with transferring Gehring’s
responsibilities in an appropriate manner and take such reasonable actions to assure a smooth transition. In the event of a termination by Gehring, the Employer shall pay to Gehring the compensation payable to Gehring for the payroll period in which
such termination occurs, prorated to the day of termination. 

 (4) Geliring shall execute a Release of Claims in the forms of
Exhibit A, attached hereto and by this reference incorporated herein (the “Release”). Gehring hereby acknowledges that he shall have up to twenty-one (21) days to consider and execute this Agreement and Release pursuant to the Older
Workers Benefit Protection Act. Gehring understands that he may revoke this Agreement and the Release in writing addressed and delivered to the Company c/o William J. Daley, Chief Counsel, Labor, Employment & Compliance, 222 Merchandise
Mart Plaza, Suite 13, Chicago, IL 60654 within seven (7) days after the execution of this Agreement and the Release, in which event, this Agreement and the Release will be of no force and effect and Gehring will not be entitled to any of the
payments or benefits provided for herein except to the extent he would be entitled to such benefits without this Agreement. The Release shall become effective on the eighth calendar day following the revocation period provided for in this Paragraph
4 (the “Release Effective Date”). As consideration for the Release, the Company will pay Gehring the gross amount of Two Hundred Fifty Thousand Dollars ($250,000.00), less applicable withholdings (“First Payment”), payable within
30 days following Gehring’s execution of the Agreement and Release, and the other payments and benefits set forth in this Agreement. 

(5) Subject to the terms of this Agreement, including meeting all obligations of Paragraph 1 and provided that Gehring signs and returns the
Release to the Company within the timeframes set forth herein, and does not revoke the Release, and remains in compliance with this Agreement (including the restrictive covenants set forth in Paragraphs 6, 7 and 8), the Company shall pay Gehring,
the sum of Four Hundred Thousand Dollars ($400,000.00), less applicable withholdings (“Additional Payments”). As another pre-condition of Gehring being entitled to and paid the Additional Payments, Gehring also agrees that, within 30 days
of his separation from service with the Company and Lamb Weston (within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended), the Company will present and Gehring will sign the attached general release (or one
substantially in the form, as determined by the Company) provided in Exhibit B to this Agreement. The Additional Payments shall be made in two installments as follows: 
  

	 	a.	Two Hundred Thousand Dollars ($200,000.00), less applicable withholdings, six months after his separation from service with the Company and Lamb Weston (within the meaning of Section 409A of the Internal Revenue
Code of 1986, as amended). 

  

	 	b.	Two Hundred Thousand Dollars ($200,000.00), less applicable withholdings, twelve months after his separation from service with the Company and Lamb Weston (within the meaning of Section 409A of the Internal Revenue
Code of 1986, as amended). 

 Gehring acknowledges that the First Payment combined with the other payments and benefits set
forth in this Agreement are more than sufficient consideration for the restrictive covenants set forth in Paragraphs 6, 7 and 8 below, notwithstanding the Additional Payments. 

  
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 (6) Gehring acknowledges that during his employment he has been granted access to the
Company’s Confidential Information. This Confidential Information is not generally known to, or readily ascertainable by, the public or the Company’s competitors and gives the Company a competitive advantage. Unauthorized disclosure of
this Confidential Information would result in irreparable injury to the Company, its subsidiaries, affiliates or joint ventures. Gehring therefore shall not, without the Company’s prior permission, directly or indirectly, utilize or disclose to
anyone outside of the Company, or permit access by unauthorized persons or entities to, any Confidential Information, and shall take all reasonable precautions to prevent any person or entity access to any of the Confidential Information. 

“Confidential Information” is defined as non-public information of value to the Company that Gehring learned in connection with his
employment with the Company and that would be valuable to a competitor or other third parties. Confidential Information includes, but is not limited to, information concerning the Company’s business plans, operations, products, services,
vendors and vendor contacts, referrals and sourcing, strategies, marketing, sales, inventions, designs, costs, legal strategies, finances, customers, prospective customers, licensees, or licensors; information regarding the Company’s revenue,
rates, pricing or price formulas, profit margin; computer software, information received from third parties under confidential conditions; or other valuable financial, commercial, business, technical or marketing information concerning the Company,
or any of the products or services made, developed or sold by the Company. 
 An individual shall not be held criminally or civilly liable
under any Federal or State trade secret law for the disclosure of a trade secret that is made in confidence to a Federal, State, or local government official or to an attorney solely for the purpose of reporting or investigating a suspected
violation of law. An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that is made in a complaint or other document filed in a lawsuit or other proceeding, if
such filing is made under seal. An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the
court proceeding, if the individual files any document containing the trade secret under seal; and does not disclose the trade secret, except pursuant to court order. 

(7) Gehring recognizes and agrees that the Company has a legitimate business interest in restricting potential competitors from hiring
Employees who possess or otherwise may have or had access to the Company’s or any of its affiliates’ confidential information. Therefore, Gehring agrees that from the date of this Agreement through the twenty-four (24) month period
following the Spin Off Date or following the end of the Term, whichever occurs first, Gehring shall not directly or indirectly through any other person or entity recruit, induce, or attempt to induce any Employee to terminate his or his employment
with the Company or otherwise interfere in any way with the employment relationship between the Company and its Employees. This restriction includes, but is not limited to: (a) identifying Employees as potential candidates for employment by
name, background or qualifications; (b) recruiting or soliciting Employees; and/or (c) participating in any pre-employment interviews with Employees. For purposes of this paragraph “Employee” (including its plural) means any
person employed by the Company at the Spin Off Date, The term “Company,” as used in this paragraph, shall include all controlled, direct and indirect, subsidiaries of the Company. 

(8) From the date of this Agreement through the twelve (12) month period following the Spin Off Date or following the end of the Term,
whichever occurs first (the “Non-Compete Period”), Gehring agrees he will not, within the Restricted Geographic Area, be employed by, work for, consult with, provide services to, or lend assistance to any Competing Organization in a
Prohibited Capacity. For purposes of this Agreement: 
 “Competing Organization” is defined as any organization that researches,
develops, manufactures, markets, distributes and/or sells one or more Competing Products/Services. 
 “Competing
Products/Services” means any products, services or activities (including, without limitation, products, services or activities in the planning or development stage during the Non-Compete Period) that compete, directly or indirectly, in whole or
in part, with one or more of the material products, services or activities (including, without limitation, products, services or activities in the planning or development stage during the Non-Compete Period) produced, provided, or engaged in by
Company or its affiliates at the time of the end of the Term and with which Gehring worked or about which Gehring obtained any trade secret or other Confidential Information at any time during the five (5) years immediately preceding the end of
the Term. “Material products, services or activities” means the development, manufacture or production of packaged food products for the retail, foodservice or institutional channels. 

  
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 For purposes of this Agreement, “Prohibited Capacity” is defined as (a) any same
or similar capacity to that held by Gehring at any time during the last three (3) years of employment with Company prior to the end of the Term; (b) any executive or managerial capacity; or (c) any capacity in which Gehring’s
knowledge of Confidential Information would render his assistance to a Competing Organization a competitive advantage. 
 For purposes of
this Agreement, “Restricted Geographic Area” is defined as all countries, territories, parishes, municipalities and states in which the Company is doing business or is selling its products at the time of the end of the Term, including but
not limited to every parish and municipality in the state of Louisiana. Gehring acknowledges that this geographic scope is reasonable given his position with the Company, the international scope of the Company’s business; and the fact that
Gehring could compete with the Company from anywhere the Company does business. 
 (9) Gehring acknowledges that a violation of the
restrictive covenants set forth in Paragraphs 6, 7 and 8 above would cause irreparable damage to the Company, and that in the event of a breach or threatened breach, the Company would be entitled to injunctive relief, without the posting of any
bond, in addition to any other such relief as may be appropriate at law or in equity. 
 (10) Gehring shall not be entitled to any other
payments or benefits other than as expressly set forth in this Agreement, except those benefits payable pursuant to any pension, equity award, deferred compensation and 401(k) plans of the Company and the agreements related to previously
granted equity-based compensation. Except as provided herein, Gehring’s participation in any employee benefit, stock option, or other incentive plan, between Gehring and the Company will continue to vest, be subject to exercise, and/or be
forfeited, in each case only as specifically provided for under the terms of any such grants to Gehring and the terms of the applicable plan and relevant agreements. 

(11) Gehring shall make no public statements, or request, cause or solicit any third party to make any public statements that are in any way
inconsistent with the terms of this Agreement. Gehring further agrees not to make any disparaging remarks or take any action now, or at any time in the future, that could be detrimental to the reputation of the Company, or any of its directors,
officers or employees. Nothing in this Agreement, however, shall prohibit Gehring from providing accurate and truthful information to any court or governmental entity; or to any person or organization in response to legal process or otherwise as
required by law or administrative agency process; or making other disclosures that are protected under the whistleblower provisions of federal law or regulation. Neither does this Agreement require Gehring to withdraw, or prohibit Gehring from
filing or participating in any investigation by or proceeding with any government administrative agency (such as the EEOC). However, Gehring waives any relief, damages, or remedy as a result of any legal action against the Company based upon the
matters released and waived by the Release whether Gehring or another party initiates the action. The Company agrees that Sean Connolly, Colleen Batcheler, Dave Biegger, Charisse Brock, Brian Davison, Jon Harris, David Marberger, Tom McGough,
Darren Serrao and Tom Werner will not publically make or publish any disparaging or negative comments about Gehring; provided, however, that nothing herein prohibits them from providing accurate and truthful information to any court or governmental
entity; or to any person or organization in response to legal process or otherwise as required by law or administrative agency process. 

(12) Gehring agrees to make himself reasonably available to the Company, and will, for twelve (12) months following the Spin Off Date:

  

	 	a.	Personally provide reasonable assistance and cooperation in providing information for the Company, and its representatives, concerning any ConAgra Foods matter of which Gehring is knowledgeable. 

 

	 	b.	Personally provide to the Company, and its representatives, reasonable assistance and cooperation relating to any pending or future lawsuits or claims, about which Gehring are knowledgeable. 

  
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	 	c.	Promptly notify the Company, in writing, if Gehring receives any request from anyone other than the Company for information regarding any potential claims or proposed litigation against the Company or any of its
affiliates. 

  

	 	d.	Refrain from providing any information related to any matter, claim or potential litigation against the Company, or its affiliates to any non-Con Agra Foods representatives, without either the Company’s written
permission or being required to provide information pursuant to legal process. Nothing in this Agreement prohibits Gehring from reporting possible violations of federal law or regulation to any governmental agency or entity, including but not
limited to the Department of Justice, the Securities and Exchange Commission, Congress, and any agency Inspector General, or making other disclosures that are protected under the whistleblower provisions of federal law or regulation. No prior
authorization of the Company is necessary to make any such reports or disclosures, and no requirement exists to notify the Company of such reports or disclosures. 

 

	 	e.	If required by law to provide sworn testimony on ConAgra Foods or affiliate-related matters, to the extent legally permitted, consult with and, to the extent legally permitted, have ConAgra Foods-designated legal
counsel present (in addition to any personal counsel) for such testimony. The Company will be responsible for the costs of Company designated counsel (but not personal counsel). Any testimony will be confined to items about which Gehring has actual
knowledge rather than speculation, unless otherwise directed by legal process. 

  

	 	f.	Gehring will be reimbursed after an expense statement is received for reasonable travel, food, lodging and similar out-of-pocket expenses required to fulfill the cooperation provisions above. 

(13) All payments to be made to Gehring hereunder shall be subject to all applicable taxes, including withholding taxes. Gehring will be
responsible for all taxes, of any kind, due under this Agreement. 
 (14) If any provision of this Agreement is determined by a court of
competent jurisdiction to be unenforceable in any respect, then such provision shall be deemed limited and restricted to the maximum extent that the court shall deem the provision to be enforceable, or, in the event that this is not possible, the
provision shall be severed and all remaining provisions shall continue in full force and effect. 
 (15) It is intended that any amounts
payable under this Agreement will be exempt from or comply with Section 409A of the Internal Revenue Code of 1986, as amended, and treasury regulations relating thereto (collectively, “Section 409A”), so as not to subject Gehring to
the payment of any interest and tax penalty which may be imposed under Section 409A, and this Agreement shall be interpreted and construed accordingly; provided however, that neither the Company nor Lamb Weston shall be responsible for any
taxes, penalties, interest or other losses or expenses incurred by Gehring due to any failure to comply with Section 409A. The timing of the payments or benefits provided herein may be modified to so comply with Section 409A. To the extent
any payment under this Agreement constitutes deferred compensation within the meaning of Section 409A, all references in this Agreement to Gehring’s separation of employment shall mean a separation from service within the meaning of
Section 409A. Each payment under this Agreement as a result of Gehring’s separation from service shall be considered a separate payment for purposes of Section 409A. To the extent that any reimbursement or in-kind benefit provided
under this Agreement is nonqualified deferred compensation within the meaning of Section 409A: (i) 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 taxable year; (ii) the reimbursement of an eligible expense must be made on or before the last day of the calendar year following the calendar year in which the expense was
incurred; and (iii) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 

(16) The Company will pay all of Gehring’s reasonable legal expenses incurred in connection with the review/negotiation of this Agreement.

  
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 (17) Gehring will be an officer of the Company until the completion of the Lamb Weston spin off
or end of the Term, whichever occurs first. As an officer of ConAgra, he will be covered by the Company’s director & officer liability insurance. Effective upon the completion of the Lamb Weston spin off, if such spin off occurs during
the Term, Gehring will be an officer of Lamb Weston Holdings, Inc., and as an officer of Lamb Weston, he will be covered by Lamb Weston’s director & officer liability insurance. 

(18) This Agreement shall be governed by the substantive laws of the State of Illinois. The Company and Gehring agree that any legal action
relating to this Agreement shall be commenced and maintained exclusively before any appropriate state court of record in Cook County, Illinois, or the United States District Court for the Northern District of Illinois, Eastern Division, and the
parties hereby submit to the jurisdiction of such courts and waive any right to challenge or otherwise object to personal jurisdiction or venue in any action commenced or maintained in such courts. 

(19) This Agreement, together with the incorporated releases, constitutes the entire agreement of the parties and supersedes any and all prior
agreements and understandings between Gehring and the Company, whether oral or in writing, except with regard to the Plans and/or agreements set forth in Paragraph 10 above. This Agreement may not be revoked, amended, modified or revised except as
otherwise provided for in this Agreement or in writing executed by Gehring and a corporate officer of the Company. 
 IN WITNESS WHEREOF,
ConAgra Foods, Inc. and John Gehring have executed this Agreement as of the day and year first above written. 
  

									
	John Gehring	 		  	ConAgra Foods, Inc.
					
	By:	 	 /s/ John Gehring
	 		  	By:	  	 /s/ Charisse Brock

	Date:	 	9/27/16	 		  		  	Date: 9/28/16

  
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 EXHIBIT A 

RELEASE 
 In consideration
of the benefits provided to John Gehring (“Gehring”) and to be received by Gehring from ConAgra Foods, Inc. (the “Company” or “ConAgra”) as described in the Interim Position and Non-Competition Agreement between the
Company and Gehring dated September         , 2016 (the “Agreement”): 
  

	 	1.	Claims Released. Gehring, for himself and on behalf of anyone claiming through Gehring including each and all of Gehring’s legal representatives, administrators, executors, heirs, successors and assigns
(collectively, the “Gehring Releasors”), does hereby fully, finally and forever release, absolve and discharge the Company and each and all of its legal predecessors, successors, assigns, fiduciaries, parents, subsidiaries,
divisions and other affiliates, and each of the foregoing’s respective past, present and future principals, partners, shareholders, directors, officers, employees, agents, consultants, attorneys, trustees, administrators, executors and
representatives (collectively, the “Company Released Parties”), of, from and for any and all claims, causes of action, lawsuits, controversies, liabilities, losses, damages, costs, expenses and demands of any nature whatsoever, at
law or in equity, whether known or unknown, asserted or unasserted, foreseen or unforeseen, that the Gehring Releasors (or any of them) now have, have ever had, or may have against the Company Released Parties (or any of them) based upon, arising
out of, concerning, relating to or resulting from any act, omission, matter, fact, occurrence, transaction, claim, contention, statement or event occurring or existing at any time in the past up to and including the date on which Gehring signs this
Release, including, without limitation, (i) all claims arising out of or in any way relating to Gehring’s employment with or separation of employment from the Company or its affiliates; (ii) all claims for compensation or benefits,
including salary, commissions, bonuses, vacation pay, expense reimbursements, severance pay, fringe benefits, stock options, restricted stock units or any other ownership interests in the Company Released Parties; (iii) all claims for breach of
contract, wrongful termination and breach of the implied covenant of good faith and fair dealing; (iv) all tort claims, including claims for fraud, defamation, invasion of privacy and emotional distress; (v) all other common law claims;
and (vi) all claims (including claims for discrimination, harassment, retaliation, attorneys fees, expenses or otherwise) that were or could have been asserted by Gehring or on his behalf in any federal, state, or local court, commission, or
agency, or under any federal, state, local, employment, services or other law, regulation, ordinance, constitutional provision, executive order or other source of law, including without limitation under any of the following laws, as amended from
time to time: the Age Discrimination in Employment Act (the “ADEA”), as amended by the Older Workers’ Benefit Protection Act of 1990 (the “OWBPA”), Title VII of the Civil Rights Act of 1964, 42 U.S.C. §§
1981 & 1981a, the Americans with Disabilities Act, the Equal Pay Act, the Employee Retirement Income Security Act, the Lilly Ledbetter Fair Pay Act of 2009, the Family and Medical Leave Act, Sarbanes-Oxley Act of 2002, the National Labor
Relations Act, the Rehabilitation Act of 1973, the WARN Act, Federal Executive Order 11246, the Genetic Information Nondiscrimination Act, the Illinois Human Rights Act, and the Illinois Wage Payment and Collection Act. 

	 	2.	Scope of Release. Nothing in this Release (i) shall release the Company from any of its obligations set forth in the Agreement or any claim that by law is non-waivable, (ii) shall release the Company
from any obligation to defend and/or indemnify Gehring against any third party claims arising out of any action or inaction by Gehring during the time of his employment and within the scope of his duties with the Company to the extent Gehring has
any such defense or indemnification right, and to the extent permitted by applicable law and to the extent the claims are covered by the Company’s director & officer liability insurance or (iii) shall affect Gehring’s right
to file a claim for workers’ compensation or unemployment insurance benefits. 

 Gehring further acknowledges that by
signing this Release, Gehring does not waive the right to file a charge against the Company with, communicate with or participate in any investigation by the EEOC or any comparable state or local agency. However, Gehring waives and releases, to the
fullest extent legally permissible, all entitlement to any form of monetary relief arising from a charge Gehring or others may file, including without limitation any costs, expenses or attorneys’ fees. Gehring understands that this waiver and
release of monetary relief would not affect an enforcement agency’s ability to investigate a charge or to pursue relief on behalf of others. 
  

	 	3.	Knowing and Voluntary ADEA Waiver. In compliance with the requirements of the OWBPA, Gehring acknowledges by his signature below that, with respect to the rights and claims waived and released in this Release
under the ADEA, Gehring specifically acknowledges and agrees as follows: (i) Gehring has read and understands the terms of this Release; (ii) Gehring has been advised and hereby is advised, and has had the opportunity, to consult with an
attorney before signing this Release; (iii) Gehring is releasing the Company and the other Company Released Parties from, among other things, any claims that Gehring may have against them pursuant to the ADEA; (iv) the releases contained
in this Release do not cover rights or claims that may arise after Gehring signs this Release; (v) Gehring has been given a period of twenty-one (21) days in which to consider and execute this Release (although Gehring may elect not to use
the full twenty-one (21)-day period at Gehring’s option); (vi) Gehring may revoke this Release during the seven (7) day period following the date on which Gehring signs this Release, and this Release will not become effective and
enforceable until the seven (7) day revocation period has expired (the date such revocation period expires, the “Effective Date”); and (vii) any such revocation must be submitted in writing to the Company c/o William J. Daley,
Chief Counsel-Labor, Employment & Compliance, Con-Agra Foods, Inc., 222 Merchandise Mart Plaza, Suite 13, Chicago, IL prior to the expiration of such seven (7)-day revocation period. If Gehring revokes this Release within such seven
(7)-day revocation period, it shall be null and void. 

  

	 	4.	Reaffirmation of Restrictive Covenants. Gehring agrees to and reaffirms his obligations as outlined in Sections 6, 7 and 8 of the Agreement (“Restrictive Covenants”), and acknowledges that the
Restrictive Covenants remain in full force and effect. 

  
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	 	5.	Entire Agreement. This Release, the Agreement, and the documents referenced therein contain the entire agreement between Gehring and the Company, and take priority over any other written or oral understanding or
agreement that may have existed in the past. Gehring acknowledges that no other promises or agreements have been offered for this Release (other than those described above) and that no other promises or agreements will be binding unless they are in
writing and signed by Gehring and the Company. 

 I agree to the terms and conditions set forth in this Release. 

 

			
	JOHN GEHRING
	
	  

	
	Date:                                   
                                         
           

  
 3

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