Document:

2010 Canadian Form of Series D Option to Purchase Class A Common Units

 Exhibit 10.34 

Series D Option 

This Option has not been registered under the Securities Act of 1933, as amended, and may be offered and sold only if so registered or in
a manner exempt from registration under such Act. This Option, and the securities issuable hereunder, are also subject to resale restrictions under applicable Canadian securities legislation, rules, regulations and policies. This Option is also
subject to additional restrictions on transfer as set forth herein and in the Partnership Agreement, dated as of November 18, 2008 and as it may be amended, amended and restated, supplemented, or otherwise modified from time to time, copies of
which may be obtained from the Partnership. No transfer of this Option will be made on the books of the Partnership unless accompanied by evidence of compliance with all such terms and restrictions. 

CLASS A COMMON UNIT OPTION PRICE: [$1,500 USD converted into CDN on April 7, 2010 minus $0.01 CDN]  

NUMBER CLASS A COMMON UNITS GRANTED: 
 DATE OF
GRANT: April 7, 2010  
 SERIES D OPTION TO PURCHASE 

CLASS A COMMON UNITS 

OF 

CONNORS BROS., L.P. 

THIS IS TO CERTIFY that, for value received and subject to the provisions hereinafter set forth, 

[**NAME OF HOLDER**] 

(the “Holder”) is entitled to purchase from Connors Bros., L.P., a Delaware limited partnership (together with any successor entity, the
“Partnership”), at any time or from time to time, but only to the extent this Option has vested in the Holder in accordance with Section 6 hereof, on or before the Expiration Date (as hereinafter defined), up to the Number of
Class A Common Units Granted for an exercise price per Class A Common Unit equal to the Unit Option Price (as hereinafter defined), which number of Class A Common Units and price shall be subject to adjustment as provided herein and
which purchase shall be on and subject to the terms, provisions and conditions hereinafter set forth, and subject to the applicable terms, provisions and conditions contained in the Limited Partnership Agreement of the Partnership (as it may be
amended, amended and restated, supplemented, or otherwise modified, the “Partnership Agreement”). 

 The terms which are capitalized herein shall have the meanings specified in Section 1
hereof unless the context shall otherwise require. 
  

	SECTION 1.	DEFINITIONS. 

 In addition
to the terms defined elsewhere in this Option, the following terms have the following respective meanings: 

“Acceleration Event” has the meaning set forth in the Option Plan. 

“Affiliate” has the meaning set forth in the Partnership Agreement. 

“Applicable Percentage” means, with respect to any Exit Transaction, (i) if Centre’s IRR with respect to such
Exit Transaction is less than or equal to twenty-six percent (26%), zero percent (0%); (ii) if Centre’s IRR with respect to such Exit Transaction is equal to or greater than thirty-two percent (32%), one hundred percent (100%); and
(iii) if neither (i) nor (ii) applies, a percentage equal to a fraction, the numerator of which is the amount by which Centre’s IRR with respect to such Exit Transaction exceeds twenty-six percent (26%), and the denominator of
which is six. Anything herein to the contrary notwithstanding, the Applicable Percentage with respect to any Exit Transaction will be zero percent (0%) if the aggregate amount of Qualifying Distributions theretofore received by Centre in respect of
its Core Investment, plus the amount of proceeds received by Centre in such Exit Transaction, is less than two and one half (2.5) times Centre’s Core Investment. 

“Approved Sale” has the meaning set forth in the Partnership Agreement. 

“Capital Account” has the meaning assigned that term in the Partnership Agreement. 

“Cause” has the meaning set forth in the Option Plan. 

“Centre” means Centre Capital Investors V, L.P. 

“Centre Partners Entity” has the meaning set forth in the Partnership Agreement. 

“Centre’s IRR” means the internal rate of return, determined on the basis of annual compounding, realized by Centre
on its Core Investment, determined in good faith by Centre. Centre’s IRR shall be determined in respect of any Exit Transaction as if Centre liquidated its entire remaining Core Investment in such Exit Transaction for a price equal to the
product of (i) the percentage interest in the Partnership, determined on a Fully Diluted Basis, that Centre’s remaining Core Investment then represents multiplied by (ii) the fair market value of the aggregate equity of the
Partnership implicit in such Exit Transaction (determined in good faith by the Committee). In determining Centre’s IRR as at any date, each Qualifying Distribution theretofore received by Centre in respect of its Core Investment shall be taken
into account, and no other amounts theretofore received by Centre shall be taken into account. 
  

 - 2 - 

 “Class A Common Units” means the limited partner Class A Common Units
as defined in the Partnership Agreement and any securities into which they shall have been converted or for which they shall have been exchanged including, following the creation of PublicCo (as defined in the Partnership Agreement), shares of
common stock of PublicCo. 
 “Commission” means the U.S. Securities and Exchange Commission, or any other
Federal agency at the time administering the Securities Act. 
 “Committee” has the meaning set forth in the
Option Plan. 
 “Core Investment” means Centre’s aggregate investment in the Partnership and the
Class A Common Units received directly or indirectly by it in return therefor. 
 “Date of Grant” means
the date of grant of this Option as specified on the first page of this Option. 
 “Disability” has the meaning
set forth in the Option Plan. 
 “Drag-Along Sale” has the meaning set forth in the Partnership Agreement.

 “Exit Percentage” means, with respect to any Exit Transaction, the percentage equivalent to a fraction, the
numerator of which is the sum of (i) the aggregate number of Class A Common Units included in the Core Investment sold or to be sold by Centre in such Exit Transaction plus (ii) the aggregate number of Class A Common Units
included in the Core Investment theretofore sold by Centre, and the denominator of which is the aggregate number of Class A Common Units that constituted the Core Investment. 

“Exit Transaction” means, as determined by the Committee in its sole discretion, (i) the first sale by Centre
(other than to a Permitted Transferee (as defined in the Partnership Agreement)) that would result in Centre owning interests in the Partnership representing less than 50% of its Core Investment, or (ii) any sale by Centre (other than to a
Permitted Transferee (as defined in the Partnership Agreement)) of its interests in the Partnership following a sale described in (i) above or (iii) any merger, recapitalization, reorganization or similar event having substantially the
result described in (i) or (ii) above; provided that, notwithstanding the foregoing, any reorganization or similar event effected to facilitate a refinancing or a public issuance of debt or equity securities shall not be deemed to be an
“Exit Transaction.” 
 “Expiration Date” means, subject only to the extension provided for in
Section 6.2, the earliest of (i) the tenth anniversary of the Date of Grant; (ii) subject to applicable law, the occurrence of any material breach by the Holder, during his term of employment or thereafter, of any of his obligations
to the General Partner, the Partnership or any of its Subsidiaries under any agreement with the General Partner, the Partnership or any of its Subsidiaries, including without 

 

 - 3 - 

 
limitation obligation with respect to (w) disclosure, use or ownership of intellectual property and proprietary information, (x) competition, (y) the solicitation of employees or
customers, or (z) a standstill with respect to ownership and control of the Partnership; (iii) in the event of a Termination (other than a Termination (a) as a result of death or Disability, (b) for Cause or (c) that
constitutes a Voluntary Termination), the date which is six months after the occurrence of such Termination, (iv) subject to applicable law, in the event of a Termination as a result of death or Disability, the
365th day after such Termination; and (v) subject to
applicable law, in the event of a Termination for Cause or a Voluntary Termination, the
30th day after such Termination. Solely for purposes of
the second sentence of Section 6.2, in the event a Termination described in such second sentence of Section 6.2 shall occur, the Expiration Date shall be deemed to occur as provided in Section 6.2. 

“Fully Diluted Basis” means a basis which assumes that each warrant, Option or other equity equivalent of the
Partnership that is exercisable or would become exercisable upon an Exit Transaction at the date of determination is fully exercised and the exercise price therefor paid; provided however that (i) any such instrument that, on the date of
determination, has an exercise price in excess of the value of the securities for which it is exercisable will be deemed not to have been exercised and (ii) any such instrument, including any Series B Option, Series C Option or Series D Option,
the vesting or exercisability of which depends upon the performance of the Partnership or the results of an Exit Transaction, will be deemed exercised only to the extent, determined (in the case of instruments that depend on the results of an Exit
Transaction) on an iterative basis, that such instrument would be exercisable upon such Exit Transaction. 
 “General
Partner” means CP V CB GP, LLC, a Delaware limited liability company. 
 “Holder” has the meaning set
forth in the first paragraph of this Option. 
 “New Units” has the meaning set forth in Section 4(a) of
this Option. 
 “Number of Class A Common Units Granted” means the number of Class A Common Units of
the Partnership subject to this Option, subject to adjustment pursuant to Section 4. 
 “Option Plan”
means the Connors Bros., L.P. Amended and Restated Unit Option Plan, as it may be amended, amended and restated, supplemented, or otherwise modified from time to time. 

“Partnership” has the meaning set forth in the first paragraph of this Option. 

“Partnership Agreement” has the meaning set forth in the first paragraph of this Option. 

 

 - 4 - 

 “Partnership Interest” means a limited partner interest in the Partnership
represented by the Class A Common Units issued upon (and the Capital Account resulting from) any exercise of this Option. 

“Person” has the meaning set forth in the Option Plan. 

“Qualified Public Offering” has the meaning set forth in the Option Plan. 

“Qualifying Distributions” means, with respect to the Core Investment, all cash proceeds received on a sale of all or
any portion thereof and all distributions of cash made by the Partnership with respect thereto, other than distributions or other payments made pursuant to or in connection with the Centre Management Agreement (as defined in the Partnership
Agreement) or any like distributions made under any successor provision and other than any monitoring fees, closing fees, expense reimbursements, tax distributions or other transaction fees paid to Centre or its Affiliates. 

“Securities” has the meaning set forth in the Partnership Agreement. 

“Securities Act” means the U.S. Securities Act of 1933, or any similar Federal statute, and the rules and regulations of
the Commission thereunder, all as the same shall be in effect at the time. 
 “Securities Exchange Act” means
the U.S. Securities Exchange Act of 1934, or any similar Federal statute, and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time. 

“Series B Options” means the Options issued or issuable pursuant to the Option Plan and denominated (or to be
denominated, as the case may be) as Series B Options. 
 “Series C Options” means the Options issued or
issuable pursuant to the Option Plan and denominated (or to be denominated, as the case may be) as Series C Options. 

“Series D Options” means the Options issued or issuable pursuant to the Option Plan and denominated (or to be
denominated, as the case may be) as Series D Options. 
 “Subsidiary” means, with respect to any Person, any
other Person in which such Person has a direct or indirect equity ownership interest in excess of 50%. 

“Termination” has the meaning set forth in the Option Plan. 

“Termination for Good Reason” has the meaning set forth in the Option Plan. 

“Transfer” has the meaning set forth in the Partnership Agreement. 

“Unit Option Price” means the per Class A Common Unit exercise price specified on the first page of this Option,
subject to adjustment pursuant to Section 4. 
  

 - 5 - 

 “Voluntary Termination” has the meaning set forth in the Option Plan.

  

	SECTION 2.	EXERCISE OF OPTION. 

2.1. Exercise. 

Subject to the conditions hereinafter set forth, to the extent it has vested, this Option may be exercised in whole or in part, at any
time or from time to time but in no event subsequent to the Expiration Date, by the Holder’s (a) surrender of this Option, with the subscription form at the end hereof duly completed and executed, at the principal office of the
Partnership, (b) (i) payment of cash to the Partnership at its principal office in an amount equal to the Unit Option Price multiplied by the number of Class A Common Units to be received upon such exercise, (ii) if approved by
the Committee in its sole discretion, by delivery of previously owned whole Class A Common Units, for which the Holder has good title, free and clear of all liens and encumbrances, having a Fair Market Value (as defined in the Option Plan)
determined as of the date of exercise, equal to the aggregate purchase price payable by reason of such exercise, (iii) if approved by the Committee in its sole discretion, in cash by a broker-dealer acceptable to the Partnership to whom the
Holder has submitted an irrevocable notice of exercise, (iv) if approved by the Committee in its sole discretion, by delivery of a full recourse promissory note on such terms and conditions as may be approved by the Committee, or (v) if
approved by the Committee in its sole discretion, in a combination of (i), (ii), (iii) and (iv), (c) delivery to the Partnership at its principal office of a joinder to the Partnership Agreement in a form reasonably required by the
Committee to reflect such exercise and to contain the Holder’s agreement to be bound by all of the terms, conditions, and provisions thereof with respect to the securities acquired upon such exercise, and each fully executed by the Holder,
(d) satisfaction of any tax withholding obligations in connection with such exercise, (e) if requested by the Partnership, delivery to the Partnership at its principal offices of a non-competition agreement substantially in the form
attached hereto as Annex A, and (f) delivery to the Partnership at its principal office of such other documents and/or representations as the Committee reasonably may require to effect such exercise and/or to help ensure the compliance of
such exercise (and the necessary consequences thereof) with all applicable securities and other laws. 
 If this Option is
exercised in respect of less than all of the Class A Common Units at the time purchasable hereunder, the Holder shall be entitled to receive a revised Option as provided in Section 12. 

Immediately after giving effect to the exercise of this Option at any time, (a) the Holder shall be deemed for all purposes under
the Partnership Agreement to hold a Partnership Interest in the Partnership with respect to the Class A Common Units so purchased; (b) the Holder shall have all of the rights and benefits of a limited partner under the Partnership
Agreement with respect to such Partnership Interest; (c) the Partnership Agreement shall be amended to the extent necessary to give effect to the foregoing applicable to the admission of Holder as a partner thereunder with such Partnership
Interest. 
  

 - 6 - 

 This Option and all rights and options hereunder shall, whether or not it has vested under
Section 6 hereof, expire on the Expiration Date, and shall thereafter be wholly null and void. 
 The Partnership shall pay
all reasonable administrative expenses and other reasonable charges payable by the Partnership in connection with the preparation, execution and delivery of certificates pursuant to this Section, regardless of the name or names in which such
certificates shall be registered. 
  

	SECTION 3.	RESERVATION. 

 The
Partnership will at all times prior to the Expiration Date take all action necessary to cause the Partnership Agreement, at all times, to provide for the sale of the maximum number of Class A Common Units which are subject to this Option.

  

	SECTION 4.	ADJUSTMENT. 

 (a) If the
Partnership shall: (i) make a distribution on Class A Common Units payable in Class A Common Units, (ii) subdivide the outstanding Class A Common Units into a greater number of Class A Common Units, (iii) combine
the outstanding Class A Common Units into a smaller number of Class A Common Units or (vi) issue any units (“New Units”) representing the beneficial ownership of Partnership interests in the Partnership in a reclassification
of the Class A Common Units (including any such reclassification in connection with creation of new classes of partners in the Partnership), then in each such case the number or kinds of Class A Common Units subject to the Option, and/or
the price to be paid for such Class A Common Units, shall be proportionately adjusted to preserve the level of economic benefits intended hereunder in light of such change as determined by the Committee in its reasonable discretion.
Additionally, in the event of any extraordinary distribution to holders of Class A Common Units other than an ordinary cash dividend (or tax distribution), as determined by the Committee in its reasonable discretion, the Committee shall make
appropriate adjustment (x) to the number and kind of Class A Common Units (or New Units) subject to the Option and/or (y) to the Unit Option Price to be paid for such Class A Common Units subject to the Option to preserve the
level of economic benefits intended hereunder in light of such change as determined by the Committee in exercise of its reasonable discretion; provided, however that such adjustment shall only be made if the Committee reasonably determines that such
adjustment would be permissible under Section 409A of the Internal Revenue Code of 1986, as amended. Such adjustment(s) shall be made successively whenever any event listed in this Section 4(a) shall occur. 

(b) If, as a result of an adjustment made pursuant to Section 4(a), the Holder shall become entitled to receive any New Units,
thereafter the number of such New Units so receivable upon exercise of this Option shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the Class A
Common Units in Section 4(a). 
  

 - 7 - 

	SECTION 5.	MERGERS, CONSOLIDATIONS, SALES. 

In the case of any consolidation or merger of the Partnership with another entity, or the sale of all or substantially all of its assets
to another entity, or any reorganization or reclassification or liquidation of the common interests or other common equity securities of the Partnership (including, without limitation, any change in the Partnership’s form of organization from a
partnership to a corporation), then, at the reasonable discretion of the Committee, but subject to the Partnership Agreement, provision shall be made whereby the Holder shall thereafter have the right to receive upon exercise of this Option (in
accordance with and subject to the terms and conditions specified herein) and in lieu of the Class A Common Units hereinbefore described immediately theretofore purchasable hereunder, solely such interests, shares of stock, securities or assets
(including cash) as would (by virtue of such consolidation, merger, sale, reorganization, reclassification or liquidation) have been issued or payable with respect to or in exchange for such Class A Common Units had such consolidation, merger,
sale, reorganization, reclassification or liquidation taken place immediately following exercise hereof, and in any such case appropriate provisions shall be made with respect to the rights and interests of the Holder to the end that the provisions
hereof shall thereafter be applicable, as nearly as may be, in relation to any interests, shares of stock, securities or assets thereafter deliverable upon exercise of this Option. 

 

	SECTION 6.	VESTING; ACCELERATION; TERMINATION. 

6.1. Exit Transactions. For so long as no Termination shall have occurred, upon (but effective immediately prior to) the
occurrence of each Exit Transaction that occurs prior to a Termination, this Option shall vest for an additional number of Class A Common Units (if any) such that, after giving effect to such vesting, the aggregate percentage of the Option that
shall have vested shall be not less than the product of (i) the Exit Percentage with respect to such Exit Transaction, multiplied by (ii) the Applicable Percentage determined based on Centre’s IRR calculated with respect thereto.

 6.2. Acceleration. Upon (but effective immediately prior to) each Exit Transaction that occurs within six
months following (i) a Termination as a result of death, (ii) a Termination as a result of Disability, (iii) a Termination by the Partnership or its affiliates not for Cause or (iv) a Termination for Good Reason, (x) the
Expiration Date shall (unless it has occurred under clause (ii) of the definition thereof) not occur prior to the day that is 10 days following such Exit Transaction, and (y) this Option shall vest for an additional number of Class A
Common Units (if any) such that, after giving effect to such vesting, the aggregate percentage of the Option that shall have vested shall be not less than the product of (i) the Exit Percentage with respect to such Exit Transaction, multiplied
by (ii) the Applicable Percentage determined based on Centre’s IRR calculated with respect thereto. 
 6.3.
Termination. Subject to Section 6.2, in the event of any Termination, all portions of this Option not yet vested shall terminate, expire and be of no further force or effect with no further compensation due to the Holder; and all
portions hereof that have vested at or prior to such Termination shall remain exercisable until the Expiration Date and shall thereafter 

 

 - 8 - 

 
terminate, expire and be of no further force or effect with no further compensation due to the Holder. Except as otherwise expressly provided herein, the vesting schedule requires continuous
employment of the Holder by the Partnership or any of its Subsidiaries through each applicable vesting date set forth above (as well as the achievement of those specific performance objectives set forth above) as a condition to the vesting of the
applicable installment of this Option. Service for only a portion of the vesting period, even if a substantial portion, will not entitle the Holder to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon a
Termination except as otherwise expressly provided herein. 
  

	SECTION 7.	REPRESENTATIONS AND WARRANTIES. 

7.1. Representations and Warranties of the Partnership. The Partnership represents and warrants to the Holder that:

 (a) The Partnership has all necessary power and authority to execute, deliver and perform the obligations under this Option
and the execution, delivery and performance by the Partnership of this Option has been duly authorized by all necessary action; and this Option has been duly and validly executed and delivered by the Partnership and constitutes the legal, valid and
binding obligations of the Partnership and is enforceable against the Partnership in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization or moratorium or other similar laws
relating to the enforcement of creditors’ rights generally and by general equitable principles and except as rights to indemnity thereunder may be limited by applicable securities laws; and 

(b) The execution, delivery and performance by the Partnership of this Option and the issuance by the Partnership of Class A Common
Units upon exercise of the Option, do not and will not contravene or constitute a default under any provision of applicable law or regulation or of the Partnership Agreement or of any agreement, judgment, injunction, order, decree or other
instrument binding upon the Partnership or result in the creation or imposition of any lien on any asset of the Partnership. 

7.2. Representations and Warranties of the Holder. The Holder represents, warrants and covenants to the Partnership and the
General Partner that: 
 (a) The Holder is a natural person, and has attained the age of majority and is legally competent to
execute this Agreement and the agreements contemplated hereby and to take all actions required pursuant thereto. This Option and the agreements contemplated hereby will constitute legal, valid and binding contracts of the Holder, enforceable against
the Holder in accordance with their respective terms. 
 (b) The Holder is not a person or partnership an interest in which
would be, and is not acquiring an interest in the Partnership as a “tax shelter investment” as defined in the Income Tax Act (Canada) (the “Tax Act”). 
  

 - 9 - 

 (c) The Holder: (x) is not a non-resident of Canada for purposes of the Tax Act and
(y) is not a “financial institution” within the meaning of subsection 142.2(1) of the Tax Act, and shall immediately advise the General Partner, in writing, if the Holder becomes a “non-resident” of Canada or becomes a
“financial institution”. 
 (d) The Holder is currently a full-time employee of a wholly-owned affiliate of the
Partnership. 
 (e) The entering into of this Agreement and the transactions contemplated hereby will not result in the
violation of any terms or provisions of any law applicable to the Holder or of any agreement, written or oral, to which the Holder may be a party or by which he or she is or may be bound. 

(f) The Holder understands that: 

(i) the issue of the Options and, if and when the Holder exercises the Option, the underlying Class A Common Shares issuable
hereunder (collectively, the “Securities”) is conditional on the availability of an exemption from the prospectus and registration requirements of applicable securities legislation, regulation, rules and policies; 

(ii) the Securities are subject to resale restrictions under applicable securities legislation, regulation, rules and policies; and

 (iii) further exemptions from the prospectus and registration requirements of applicable securities legislation, regulation,
rules and policies will be needed in order to sell the Securities. 
 (g) The Holder agrees to execute and deliver, from time to
time, such certificates and other documentation as the Partnership may reasonably request to determine the availability of exemptions from the prospectus and registration requirements of applicable securities legislation, regulation, rules and
policies in connection with the issue of the Securities of the Partnership. 
 (h) The Holder is acquiring the Securities for
investment purposes only, for the Holder’s own account, and not with a view to or an intent to sell, or to offer for resale in connection with any unregistered distribution, all or any portion of such securities within the meaning of any
applicable securities laws. 
 (i) The Holder has not received a prospectus or other offering memorandum (including, without
limitation, as such term is defined in the Securities Act (Ontario)), sales or advertising literature or similar document (other than financial statements or any other document, the content of which is prescribed by statute or regulation) in
connection with this subscription, and has not received, nor has the Holder requested, nor does the Holder need to receive, any other document. 
  

 - 10 - 

 (j) The Holder acknowledges that any subsequent sale of any Securities shall be made either
pursuant to an effective registration statement under the Securities Act or otherwise in compliance therewith or in compliance with Canadian securities laws, as applicable, and in all events in compliance with the Partnership Agreement. 

(k) The Holder acknowledges that the Securities will be subject to resale restrictions under applicable securities legislation, rules,
regulations and policies and that, since the Partnership is not and has no current intention to become a “reporting issuer”, or its equivalent, in any jurisdiction, this could result in a holder of Securities having to hold such securities
for an indefinite period of time if no statutory exemption may be relied upon or if no discretionary order or ruling is obtained in respect of the resale of such securities. 

(l) The Holder acknowledges that no market exists for the Securities and none is likely to develop. 

(m) The Holder acknowledges that it will execute and deliver to the Partnership at its principal office such other documents and/or
representations as may be required by applicable securities laws or by any regulatory authority. 
 (n) This Option and all
Class A Common Units purchased upon exercise hereof shall be subject to the terms hereof and of the Partnership Agreement. 

(o) The Holder understands that there are other tax consequences associated with holding Class A Common Units and has obtained and
will rely upon the advice of the Holder’s own tax advisors with respect to such matters. 
 (p) The Holder has had the
opportunity to consult with counsel, has had adequate time to consult with such counsel regarding the terms of this Option and the Partnership Agreement, the Holder has received, is familiar with such documents, understands the speculative and
financial risks associated with an investment in Class A Common Units and the uncertainty with respect to the Partnership’s future operations, and does not desire any additional information with respect to any of the foregoing. 

(q) In evaluating the merits and risks of an investment in Class A Common Units, the Holder has and will rely upon the advice of the
Holder’s own legal counsel, and tax and investment advisors. 
 (r) At no time was any oral representation made to the
Holder relating to the Option or the purchase of any securities upon exercise thereof and the Holder was not presented with or solicited by any promotional meeting or material relating to the Option or any securities of the Partnership. The Holder
is not subscribing for the purchase of Class A Common Units as a result of or subsequent to any advertisement, article, notice or other communication published in any newspapers, magazine or similar media or broadcast over television or radio.

  

 - 11 - 

 (s) The Holder’s principal office or residence address is as set forth on the signature
page hereof. The Holder agrees that it will notify the Partnership in writing if the Holder’s principal office or residence address changes. 

(t) The Holder has been advised that the offer and sale of the Class A Common Units purchased pursuant to this Option have not been
registered under the Securities Act, that the Class A Common Units may not be offered, sold or otherwise disposed of unless such offer and sale are registered thereunder or an exemption from registration is available and that accordingly it may
be required to bear the economic risk of the investment in the Class A Common Units for an indefinite period of time. The Holder also understands that the Partnership does not have any intention of registering the offer and sale of the
Class A Common Units under the Securities Act or of supplying the information which may be necessary to enable the Holder to offer and/or sell the Class A Common Units pursuant to Rule 144 under the Securities Act, and that the Partnership
will not be registered as an investment company under the Investment Company Act of 1940, as amended. 
 (u) The Holder
(A) has knowledge and experience in financial and business matters such that the Holder is capable of evaluating the merits and risks of the purchase of the Class A Common Units as contemplated by this Option and the Partnership Agreement,
and (B) is able to bear the economic risk of the investment in the Class A Common Units purchased pursuant to this Option for an indefinite period of time and can afford to suffer a complete loss of the investment in such Class A
Common Units. 
 (v) The Holder has been informed that the offer of the Class A Common Units is being made pursuant to an
exemption from the registration requirements of the Securities Act, relating to transactions by an issuer not involving a public offering, and that, consequently, the materials relating to the offer have not been subject to review and comment by the
staff of the Securities and Exchange Commission or any other governmental authority in the United States, Canada or otherwise. 
  

	SECTION 8.	VALID CLASS A COMMON UNITS. 

The Partnership covenants and agrees that the interest in the Partnership represented by the Class A Common Units to be delivered on
the exercise of this Option and the payment of the applicable purchase price herein provided for shall, at the time of such delivery, be duly authorized and validly issued paid and entitle the holder thereof to the full benefits of a holder of
Class A Common Units under the Partnership Agreement. 
  

	SECTION 9.	NO SUSPENSION. 

 Except as
provided herein, the right to exercise this Option shall not be suspended during any period. 
  

 - 12 - 

	SECTION 10.	RESTRICTIONS ON TRANSFERABILITY OF OPTIONS AND CLASS A COMMON UNITS; COMPLIANCE WITH LAWS. 

Notwithstanding anything contained in this Option to the contrary, the terms and provisions of this Section 10 of this Option shall
remain in full force and effect at all times up to and including the Expiration Date. 
 10.1. In General.
(a) This Option may not be transferred by the Holder other than (i) by will or the laws of descent and distribution or pursuant to beneficiary designation procedures and to a beneficiary approved by the Partnership or (ii) to the
Partnership. This Option is exercisable only by the Holder or the Holder’s legal representative. Except to the extent permitted by the foregoing sentence or as otherwise consented to by the Partnership in writing, this Option may not be sold,
transferred, assigned, pledged, hypothecated, encumbered or otherwise disposed of (whether by operation of law or otherwise) or be subject to execution, attachment or similar process. Upon any attempt to so sell, transfer, assign, pledge,
hypothecate, encumber or otherwise dispose of this Option, or any attempt by any person other than the Holder or the Holder’s legal representative to exercise this Option, this Option and all rights hereunder shall immediately become null and
void. 
 (b) The Class A Common Units issued upon the exercise hereof shall be transferable only in accordance with the
Partnership Agreement, including, without limitation, the restrictions on transfer in Section 8 of the Partnership Agreement to the same extent as if such provision was set forth herein. In addition, the Holder acknowledges and agrees that such
Class A Common Units may only be transferred pursuant to registration under applicable securities laws (including, without limitation, the Securities Act) or an exemption therefrom. 

10.2. Restrictive Legends. The Partnership Agreement, each certificate (if any) for Class A Common Units initially
issued upon the exercise of this Option and each certificate (if any) for Class A Common Units issued to a subsequent transferee of such Class A Common Units may be required to bear a legend respecting restrictions on transfer as required
under applicable securities laws. Furthermore, the Holder understands and hereby agrees that, unless otherwise permitted by the provisions of this Section 10.2, such certificates shall bear on the face thereof a legend reading substantially as
follows: 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED, AND MAY BE OFFERED AND SOLD ONLY IF SO REGISTERED OR IN A MANNER EXEMPT FROM REGISTRATION UNDER SUCH ACT. THE SECURITIES REPRESENTED BY THIS CERTIFICATE ALSO ARE SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER AS SET FORTH IN THE
PARTNERSHIP AGREEMENT OF CONNORS BROS., L.P. (THE “PARTNERSHIP”), DATED AS OF NOVEMBER 18, 2008 AND AS IT MAY BE AMENDED, AMENDED AND RESTATED, SUPPLEMENTED, OR OTHERWISE MODIFIED FROM TIME TO TIME, COPIES OF WHICH MAY BE OBTAINED FROM THE
PARTNERSHIP. NO TRANSFER OF THESE SECURITIES WILL BE MADE ON THE BOOKS OF THE PARTNERSHIP UNLESS ACCOMPANIED BY EVIDENCE OF COMPLIANCE WITH THE TERMS OF SUCH AGREEMENT. 
  

 - 13 - 

 In the event that a registration statement covering any Class A Common Units issued or
issuable upon exercise of this Option shall become effective under the Securities Act and under any applicable securities laws or in the event that the Partnership shall receive such certificates, legal opinions or other information as the
Partnership may reasonably require to confirm that the legend on such Class A Common Units is not, or is no longer, necessary or required (including, without limitation, because of the availability of any exemption afforded by Rule 144 of the
General Rules and Regulations of the Commission), the Partnership shall, or shall instruct its transfer agents and registrars to, remove such legend from the Partnership Agreement and the certificates (if any) evidencing such Class A Common
Units or issue new certificates without such legend in lieu thereof, or issue a replacement Option without the legend, as the case may be. 
  

	SECTION 11.	DRAG-ALONG RIGHT. 

 (a) No
later than ten (10) days prior to the closing of a Drag-Along Sale or an Approved Sale, the Holder shall exercise the Applicable Drag Percentage of this Option; provided, however, that (x) in the event the Applicable Drag Percentage of
this Option is greater than the vested portion of this Option at such time, then the Holder shall exercise the entire vested portion of this Option and (y) if the exercise price and any required withholding taxes with respect to the portion of
the Option required to be exercised hereunder is greater than the sale price for the underlying Class A Common Units, then such portion of the Option shall not be exercised, shall be counted towards the Applicable Drag Percentage and shall be
cancelled with no consideration received therefor. The Class A Common Units acquired pursuant to this Option shall be subject to the provisions of the Partnership Agreement. “Applicable Drag Percentage” has the meaning set
forth in the Partnership Agreement. 
 (b) Each Centre Partners Entity shall have the right to assign its rights pursuant to
this Section 11 to any of its Affiliates. 
 (c) The rights granted pursuant to this Section 11 shall terminate upon
consummation of a Qualified Public Offering. 
 (d) Each Centre Partners Entity is an express third party beneficiary of this
Section 11 and shall be permitted to enforce its rights hereunder to the same extent as if it were a party hereto. 
  

	SECTION 12.	PARTIAL EXERCISE. 

 If
this Option is exercised in part only, the Holder shall surrender this Option upon such exercise and shall receive a revised Option, registered in the name of the Holder and setting forth as (i) the total number of Class A Common Units
subject to such revised Option and (ii) the Unit Option Price of such revised Option, respectively, (a) the total number of Class A 

 

 - 14 - 

 
Common Units available for purchase hereunder immediately prior to such partial exercise minus the portion of such Class A Common Units purchased in such partial exercise, and (b) the
Unit Option Price of this Option immediately prior to such exercise. In such event, the revised Option shall otherwise be on substantially the same terms and conditions as this Option. 

 

	SECTION 13.	LOST, STOLEN OPTION, ETC. 

In case this Option shall be mutilated, lost, stolen or destroyed, the Partnership shall issue a revised Option of like date, tenor and
denomination and deliver the same in exchange and substitution for and upon surrender and cancellation of the mutilated Option, or in lieu of the Option lost, stolen or destroyed, upon receipt of evidence reasonably satisfactory to the Partnership
of the loss, theft or destruction of such Option, and upon receipt of a reasonably satisfactory indemnity satisfactory to the Partnership. 
  

	SECTION 14.	HOLDER NOT A PARTNER. 

This Option does not confer upon the Holder any right to vote or to consent as a partner of the Partnership, as such, in respect of any
matters whatsoever, or any other rights or liabilities as a partner, prior to the exercise hereof as provided herein. 
  

	SECTION 15.	NO RIGHTS TO CONTINUED EMPLOYMENT. 

In no event shall the granting of this Option, its acceptance or its exercise be deemed to give or confer on the Holder any right to
continued employment by or service, including, without limitation, as a director or manager with the Partnership or its affiliates. 
  

	SECTION 16.	OPTION SUBJECT TO THE PLAN. 

This Option is subject to the provisions of the Option Plan and shall be interpreted in accordance therewith, and in a manner consistent
therewith. The Holder acknowledges receipt of a copy of the Option Plan. The Holder agrees that the Committee shall have right to resolve all questions which may arise in connection with the Option or its exercise. Any interpretation, determination
or other action made or taken by the Committee regarding the Option Plan or this Option shall be final, binding and conclusive. 
  

	SECTION 17.	SEVERABILITY. 

 Should any
part of this Option for any reason be declared invalid, such decision shall not affect the validity of any remaining portion, which remaining portion shall remain in full force and effect as if this Option had been executed with the invalid portion
thereof eliminated, and it is hereby declared the intention of the parties hereto that they would have executed and accepted the remaining portion of this Option without including therein any such part, parts or portion which may, for any reason, be
hereafter declared invalid. 
  

 - 15 - 

	SECTION 18.	INDEX AND CAPTIONS. 

 The
index and the descriptive headings of the various sections of this Option are for convenience only and shall not affect the meaning or construction of the provisions hereof. 

 

	SECTION 19.	GOVERNING LAW; WAIVER OF JURY TRIAL. 

THIS OPTION AND ALL RIGHTS ARISING HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE (WITHOUT REGARD TO
PRINCIPLES OF CONFLICTS OF LAW). 
 THE PARTNERSHIP AND THE HOLDER HEREBY IRREVOCABLY WAIVE ANY AND ALL RIGHT TO TRIAL BY
JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS OPTION. 
  

	SECTION 20.	AMENDMENTS; WAIVERS. 

 Any
provision of this Option may be amended or waived if, and only if, such amendment or waiver is in writing and signed, in the case of an amendment, by the Holder and the Partnership, or in the case of a waiver, by the party against whom the waiver is
to be effective and, in the case of an amendment to or waiver of Section 11, the Centre Partners Entities. No failure or delay by either party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any
single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies
provided by law. 
  

	SECTION 21.	NOTICES. 

 Any notice or
other communication required or permitted to be given hereunder shall be in writing and may be personally served, or sent by telefacsimile or United States mail or courier service and shall be deemed to have been given when delivered in person or by
courier service, upon receipt of telefacsimile, or three Business Days after depositing it in the United States mail with postage prepaid and properly addressed. For the purposes hereof, the address of each party hereto shall be as set forth below
or such other address as shall be designated by such party in a written notice delivered to the other party hereto. 

If to the Partnership: 

Connors Bros., L.P. 

c/o Centre Partners Management LLC 

30 Rockefeller Plaza, Suite 5050 

New York, New York 10020 

Attention: Scott Perekslis 

Telecopy: 212-332-5801 
  

 - 16 - 

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

Dechert LLP 

1095 Avenue of the Americas 

New York, New York 10036-6797 

Attention: Mark E. Thierfelder, Esq. 

Telecopy: 212-698-0664 

If to the Holder: At the address listed on the Signature Page. 

 

	SECTION 22.	ENTIRE AGREEMENT 

 This Option constitutes
the entire agreement between the Holder and the Partnership relating to the subject matter hereof, and supersedes all prior agreements, understandings, negotiations and discussions, whether written or oral, between the Holder and the Partnership
with respect to their respective rights and obligations in respect of the subject matter hereof (other than with respect to purchases, if any, by the Holder of equity interests in the Partnership or its Affiliates, which were consummated on or prior
to December 31, 2008). 
  

 - 17 - 

 IN WITNESS WHEREOF, Connors Bros., L.P. has caused this Option to be signed as of the
Date of Grant first set forth above. 
  

			
	CONNORS BROS., L.P.
		
	By:	 	  

		 	Christopher David Lischewski
		 	President and Chief Executive Officer

  

					
	ACKNOWLEDGED AND AGREED
	AS OF THIS      DAY OF                     ,
2010
	
	  

	 Name:
	 		 	
	 Title:
	 		 	
	 Address:
	 		 	

  

 S-1 

 ANNEX A 

FORM OF 

NON-COMPETITION AGREEMENT 

 SUBSCRIPTION 

The undersigned,
                                , pursuant to the provisions of the within Option, hereby
elects to purchase                      Class A Common Units of Connors Bros., L.P., a Delaware limited partnership, covered by the within
Option. By executing this document, the undersigned affirms as made as of the date hereof by the undersigned the representations set forth in Section 7.2 of the within Option and such representations are incorporated herein by this reference.
The undersigned represents that he/she has no need for liquidity in this investment, has the ability to bear the economic risk of this investment, and can afford a complete loss of the purchase price for the interest hereby acquired. 

 

					
	Signature:	 	  
	  	
	Address:	 	  
	  	
		 	  
	  	
		 	  
	  	

 Dated:Amendment Number One to Senior Revolving Credit Agreement

 Exhibit 10.36 

AMENDMENT NUMBER ONE 

TO SENIOR REVOLVING CREDIT AGREEMENT 

THIS AMENDMENT NUMBER ONE TO SENIOR REVOLVING CREDIT AGREEMENT, (this “Amendment”), dated as of December 18,
2008, is entered into by and among BUMBLE BEE FOODS, LLC, a Delaware limited liability company (the “U.S. Borrower”), CONNORS BROS. CLOVER LEAF SEAFOODS COMPANY, successor by amalgamation with 3231021 NOVA SCOTIA
COMPANY, a Nova Scotia unlimited company, (the “Canadian Borrower” together with U.S. Borrower hereinafter referred to each individually as “Borrower” and individually and collectively as the
“Borrowers”), the lenders identified on the signature pages hereof (such lenders, and the other lenders party to the below-defined Credit Agreement, together with their respective successors and permitted assigns, are referred to
hereinafter each individually as a “Lender” and collectively as the “Lenders”), WELLS FARGO FOOTHILL, LLC, a Delaware limited liability company, as the arranger and United States administrative agent for the
Lenders (“U.S. Agent”) and WELLS FARGO FOOTHILL CANADA ULC, an Alberta unlimited company, as arranger and Canadian administrative agent for the Lenders (“Canadian Agent,” together with U.S. Agent, the
“Agents”), and in light of the following: 
 W I T N E S S
E T H 
 WHEREAS, the Borrowers, Lenders, and Agents are parties to that certain Senior
Revolving Credit Agreement, dated as of November 18, 2008 (as amended, restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”); 

WHEREAS, the Agents determined that the Flex Changes (as defined in that certain Commitment Fee Letter, dated October 15,
2008 (the “Commitment Fee Letter”) are reasonably necessary to ensure a Successful Syndication (as defined in the Commitment Fee Letter); 

WHEREAS, upon the terms and conditions set forth herein, the parties hereby agree to amend the Credit Agreement as follows.

 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 1.
Defined Terms. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement, as amended hereby. 

2. Amendments to Credit Agreement. 

(a) Section 1.1 of the Credit Agreement is hereby amended by (i) deleting the text “3.00 percentage points”
appearing in the definition of “Base Rate Margin” and replacing it with the text “3.75 percentage points”, and (ii) deleting the text “2.75 percentage points” appearing in the definition of “Base Rate
Margin” and replacing it with the text “3.50 percentage points”. 

 (b) Section 1.1 of the Credit Agreement is hereby further amended by
(i) deleting the text “2.70 percentage points” appearing in the definition of “Canadian Prime Rate Margin” and replacing it with the text “3.45 percentage points”, and (ii) deleting the text “2.45
percentage points” appearing in the definition of “Canadian Prime Rate Margin” and replacing it with the text “3.20 percentage points”. 

(c) Section 1.1 of the Credit Agreement is hereby further amended by (i) deleting the text “3.00 percentage
points” appearing in the definition of “CDOR Rate Margin” and replacing it with the text “3.75 percentage points”, and (ii) deleting the text “2.75 percentage points” appearing in the definition of “CDOR
Rate Margin” and replacing it with the text “3.50 percentage points”. 
 (d) Section 1.1 of the
Credit Agreement is hereby further amended by (i) deleting the text “3.00 percentage points” appearing in the definition of “LIBOR Rate Margin” and replacing it with the text “3.75 percentage points”, and
(ii) deleting the text “2.75 percentage points” appearing in the definition of “LIBOR Rate Margin” and replacing it with the text “3.50 percentage points”. 

(e) Section 1.1 of the Credit Agreement is hereby amended by deleting clause (c) in the definition of “Eligible Landed
Inventory” and replacing it with the following: 
 “(c) it is located on real property leased by the applicable
Borrower (or its Subsidiary, as applicable) or in a contract warehouse, in each case, unless (i) it is either (A) subject to a Collateral Access Agreement executed by the lessor or warehouseman, as the case may be, or (B) (1) in
the case of a location in Canada, a Canadian Rent Reserve is in place with respect to such location, or (2) in the case of a location in the United States or Puerto Rico, a U.S. Rent Reserve is in place with respect to such location; and
(ii) it is segregated or otherwise separately identifiable from goods of others, if any, stored on the premises,” 

3. Conditions Precedent to Amendment. The satisfaction or waiver of each of the following shall constitute conditions precedent to
the effectiveness of the Amendment (such date being the “Amendment Effective Date”): 
 (a) Agent shall have
received this Amendment, duly executed by the parties hereto, and the same shall be in full force and effect. 
 (b) Agent shall
have received the reaffirmation and consent of each Guarantor attached hereto as Exhibit A, duly executed and delivered by an authorized official of each Guarantor. 

(c) After giving effect to this Amendment, the representations and warranties herein and in the Credit Agreement and the other Loan
Documents shall be true and correct in all material respects on and as of the date hereof, as though made on such date (except to the extent that such representations and warranties relate solely to an earlier date). 

(d) No injunction, writ, restraining order, or other order of any nature prohibiting, directly or indirectly, the consummation of the
transactions contemplated herein shall have been issued and remain in force by any Governmental Authority against any Borrower, any Guarantor, Agent, or any Lender. 

 (e) After giving effect to this Amendment, no Default or Event of Default shall have
occurred and be continuing or shall result from the consummation of the transactions contemplated herein. 
 4.
Representations and Warranties. Each Borrower hereby represents and warrants to the Agents and the Lenders as follows: 

(a) The execution, delivery, and performance by it of this Amendment and the other Loan Documents to which it is a party (i) have
been duly authorized by all necessary action, (ii) do not and will not (A) violate any material provision of any law or regulation applicable to it or its Subsidiaries, the Governing Documents of it or its Subsidiaries, or any order,
judgment, or decree of any court or other Governmental Authority binding on it or its Subsidiaries, (B) conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under any Material Contract of it
or its Subsidiaries except to the extent that any such conflict, breach or default could not individually or in the aggregate reasonably be expected to have a Material Adverse Change, or (C) result in or require the creation or imposition of
any Lien of any nature whatsoever upon any assets of any Loan Party, other than Permitted Liens, or (iii) require any approval of any Loan Party’s interestholders or any approval or consent of any Person under any Material Contract of any
Loan Party, other than consents or approvals that have been obtained and that are still in force and effect and, in the case of Material Contracts, for consents or approvals, the failure to obtain could not individually or in the aggregate
reasonably be expected to cause a Material Adverse Change. 
 (b) The execution, delivery, and performance by it of this
Amendment do not and will not require any registration with, consent, or approval of, or notice to, or other action with or by, any Governmental Authority. 

(c) This Amendment, and each other Loan Document to which it is or will be a party, when duly executed and delivered by it, will be the
legally valid and binding obligation of such Borrower, enforceable against such Borrower in accordance with its respective terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, fraudulent transfer,
reorganization, moratorium, or similar laws relating to or limiting creditors’ rights generally. 
 (d) No injunction,
writ, restraining order, or other order of any nature prohibiting, directly or indirectly, the consummation of the transactions contemplated herein has been issued and remains in force by any Governmental Authority against any Borrower, any
Guarantor, or any member of the Lender Group. 
 (e) No Default or Event of Default has occurred and is continuing as of the
date of the effectiveness of this Amendment. 
 (f) The representations and warranties set forth in this Amendment, the Credit
Agreement, as amended by this Amendment and after giving effect hereto, and the other Loan Documents to which it is a party are true and correct in all material respects on and as of the date hereof, as though made on such date (except to the extent
that such representations and warranties relate solely to an earlier date). 

 5. Acknowledgments. Each Borrower hereby acknowledges, confirms and agrees that U.S.
Agent, for itself and for the benefit of the Agents and the Lenders, has and shall continue to have valid, enforceable and perfected first-priority liens upon and security interests in substantially all of the assets of such Borrower (subject only
to Permitted Liens), granted to U.S. Agent, for itself and the benefit of the Agents and the Lenders, pursuant to the Loan Documents or otherwise granted to or held by U.S. Agent, for itself and the benefit of the Agents and the Lenders. Each
Borrower hereby acknowledges, confirms and agrees that: (i) each of the Loan Documents to which it is a party has been duly executed and delivered to the Agents and the Lenders thereto by such Borrower, and each is in full force and effect as
of the date hereof, (ii) the agreements and obligations of each Borrower contained in such documents and in this Agreement constitute the legal, valid and binding obligations of such Borrower and guaranteed indebtedness of the Borrowers,
enforceable against such Borrower in accordance with their respective terms, except as such enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally and by general
principles of equity, and as of the date hereof the Borrowers have no valid defense to the enforcement of the Obligations, and (iii) each Agent and each Lender are and shall be entitled to the rights, remedies and benefits provided for in the
Loan Documents and under applicable law or at equity. 
 6. Payment of Costs and Fees. Borrowers shall pay to each Agent
all reasonable out-of-pocket expenses incurred in connection with the preparation, negotiation, execution and delivery of this Amendment and any documents and instruments relating hereto. In addition thereto, Borrowers agree to reimburse each Agent
on demand for its reasonable out-of-pocket costs arising out of this Amendment and all documents or instruments relating hereto (which costs may include the reasonable fees and expenses of any attorneys retained by any Agent other than the allocated
costs of internal counsel). 
 7. Choice of Law. This Amendment and the rights of the parties hereunder, shall be
governed by, and construed in accordance with, the laws of the State of New York applicable to contracts made and to be performed in the State of New York. 

8. Amendments. This Amendment cannot be altered, amended, changed or modified in any respect or particular unless each such
alteration, amendment, change or modification shall have been agreed to by each of the parties and reduced to writing in its entirety and signed and delivered by each party. 

9. Counterpart Execution. This Amendment may be executed in any number of counterparts, all of which when taken together shall
constitute one and the same instrument, and any of the parties hereto may execute this Amendment by signing any such counterpart. Delivery of an executed counterpart of this Amendment by telefacsimile or electronic mail shall be equally as effective
as delivery of an original executed counterpart of this Amendment. Any party delivering an executed counterpart of this Amendment by telefacsimile or electronic mail also shall deliver an original executed counterpart of this Amendment, but the
failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment. 

 10. Effect on Loan Documents. 

(a) The Credit Agreement, as amended hereby, and each of the other Loan Documents shall be and remain in full force and effect in
accordance with their respective terms and hereby are ratified and confirmed in all respects. The execution, delivery, and performance of this Amendment shall not operate, except as expressly set forth herein, as a modification or waiver of any
right, power, or remedy of Agent or any Lender under the Credit Agreement or any other Loan Document. The waivers, consents and modifications herein are limited to the specifics hereof (including facts or occurrences on which the same are based),
shall not apply with respect to any facts or occurrences other than those on which the same are based, shall not excuse any non-compliance with the Loan Documents, and shall not operate as a consent to any matter under the Loan Documents. Except for
the amendments to the Credit Agreement expressly set forth herein, the Credit Agreement and other Loan Documents shall remain unchanged and in full force and effect. The execution, delivery and performance of this Amendment shall not operate as a
waiver of or, except as expressly set forth herein, as an amendment of, any right, power or remedy of the Lenders in effect prior to the date hereof. The amendments set forth herein are limited to the specifics hereof and shall neither excuse any
future non-compliance with the Credit Agreement, nor operate as a waiver of any Default or Event of Default. To the extent any terms or provisions of this Amendment conflict with those of the Credit Agreement or other Loan Documents, the terms and
provisions of this Amendment shall control. 
 (b) Upon and after the effectiveness of this Amendment, each reference in the
Credit Agreement to “this Agreement”, “hereunder”, “herein”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit
Agreement”, “thereunder”, “therein”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as modified and amended hereby. 

(c) To the extent that any terms and conditions in any of the Loan Documents shall contradict or be in conflict with any terms or
conditions of the Credit Agreement, after giving effect to this Amendment, such terms and conditions are hereby deemed modified or amended accordingly to reflect the terms and conditions of the Credit Agreement as modified or amended hereby.

 (d) This Amendment is a Loan Document. 

(e) Unless the context of this Amendment clearly requires otherwise, references to the plural include the singular, references to the
singular include the plural, the terms “includes” and “including” are not limiting, and the term “or” has, except where otherwise indicated, the inclusive meaning represented by the phrase “and/or”.

 11. Entire Agreement. This Amendment, and terms and provisions hereof, the Credit Agreement and the other Loan
Documents constitute the entire understanding and agreement between the parties hereto with respect to the subject matter hereof and supersedes any and all prior or contemporaneous amendments or understandings with respect to the subject matter
hereof, whether express or implied, oral or written. 

 12. Integration. This Amendment, together with the other Loan
Documents, incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof. 

13. Severability. In case any provision in this Amendment shall be invalid, illegal or unenforceable, such
provision shall be severable from the remainder of this Amendment and the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

[signature page follows] 

 IN WITNESS WHEREOF, the parties have entered into this Amendment as of the date first above
written. 
  

			
	BUMBLE BEE FOODS, LLC,
	 a Delaware limited liability company,

as U.S. Borrower

		
	By:	 	 /s/ [illegible]

	Name:	 	
	Title:	 	
	
	CONNORS BROS. CLOVER LEAF SEAFOODS COMPANY,
	 a Nova Scotia unlimited company

as Canadian Borrower

		
	By:	 	 /s/ [illegible]

	Name:	 	
	Title:	 	
	
	WELLS FARGO FOOTHILL, LLC,
	 a Delaware limited liability company,

as U.S. Agent and as a Lender

		
	By:	 	 /s/ Jean Grasso

	Name:	 	Jean Grasso
	Title:	 	Managing Director
	
	WELLS FARGO FOOTHILL CANADA ULC,
	 an Alberta unlimited company,

as Canadian Agent and as a Lender

		
	By:	 	 /s/ Mark V. Sturrock

	Name:	 	Mark V. Sturrock
	Title:	 	Senior Vice President

 Exhibit A 

REAFFIRMATION AND CONSENT 

All capitalized terms used herein but not otherwise defined herein shall have the meanings ascribed to them in that certain Senior
Revolving Credit Agreement dated as of November 18, 2008 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) by and among BUMBLE BEE FOODS, LLC, a Delaware limited
liability company (the “U.S. Borrower”), CONNORS BROS. CLOVER LEAF SEAFOODS COMPANY, successor by amalgamation with 3231021 NOVA SCOTIA COMPANY, a Nova Scotia unlimited company (the “Canadian Borrower”
together with U.S. Borrower hereinafter referred to each individually as “Borrower” and individually and collectively as the “Borrowers”), the lenders identified on the signature pages hereof (such lenders, and the
other lenders party to the below-defined Credit Agreement, together with their respective successors and permitted assigns, are referred to hereinafter each individually as a “Lender” and collectively as the
“Lenders”), WELLS FARGO FOOTHILL, LLC, a Delaware limited liability company, as the arranger and United States administrative agent for the Lenders (“U.S. Agent”) and WELLS FARGO FOOTHILL CANADA ULC,
an Alberta unlimited company, as arranger and Canadian administrative agent for the Lenders (“Canadian Agent,” together with U.S. Agent, the “Agents”). The undersigned Guarantors each hereby (a) represents and
warrants to the Agents and the Lenders that the execution, delivery, and performance of this Reaffirmation and Consent are within its powers, have been duly authorized by all necessary action, and are not in contravention of any law, rule, or
regulation, or any order, judgment, decree, writ, injunction, or award of any arbitrator, court, or governmental authority, or of the terms of its charter or bylaws, or of any Material Contract or undertaking to which it is a party or by which any
of its properties may be bound or affected except to the extent that any such contravention could individually or in the aggregate reasonably be expected to have a Material Adverse Change; (b) consents to the amendment of the Credit Agreement
as set forth in that certain Amendment Number One to Credit Agreement dated as of December 18, 2008 by and among Borrowers, the Agents and the Lenders (the “Amendment”); (c) acknowledges and reaffirms its obligations owing
to the Agents and the Lenders under any Loan Documents to which it is a party; (d) agrees that each of the Loan Documents to which it is a party is and shall remain in full force and effect after giving effect to the Amendment;
(e) acknowledges, confirms and agrees that U.S. Agent, for itself and for the benefit of the Agents and the Lenders, has and shall continue to have valid, enforceable and perfected first-priority liens upon and security interests in
substantially all of the assets of such Guarantor (subject only to Permitted Liens), granted to U.S. Agent, for itself and the benefit of the Agents and the Lenders, pursuant to the Loan Documents or otherwise granted to or held by U.S. Agent, for
itself and the benefit of the Agents and the Lenders; and (f) acknowledges, confirms and agrees that (i) each of the Loan Documents to which it is a party has been duly executed and delivered to the Agents and the Lenders thereto by such
Guarantor, and each is in full force and effect as of the date hereof, (ii) the agreements and obligations of each Guarantor contained in such documents and in the Amendment constitute the legal, valid and binding obligations of such Guarantor
and guaranteed indebtedness of such Guarantor, enforceable against such Guarantor in accordance with their respective terms, except as such enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of
creditors’ rights generally and by general principles of equity, and as of the date hereof the Borrowers have no valid defense to the enforcement of the Obligations, and (iii) each Agent and each Lender are and shall be entitled to the
rights, remedies 

 
and benefits provided for in the Loan Documents and under applicable law or at equity. Although each of the undersigned has been informed of the matters set forth herein and has acknowledged and
agreed to same, they each understand that neither any Agent nor any Lender has any obligations to inform it of such matters in the future or to seek its acknowledgment or agreement to future amendments, and nothing herein shall create such a duty.
Delivery of an executed counterpart of this Reaffirmation and Consent by telefacsimile shall be equally as effective as delivery of an original executed counterpart of this Reaffirmation and Consent. Any party delivering an executed counterpart of
this Reaffirmation and Consent by telefacsimile also shall deliver an original executed counterpart of this Reaffirmation and Consent but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and
binding effect of this Reaffirmation and Consent. This Reaffirmation and Consent shall be governed by the laws of the State of New York. 

 IN WITNESS WHEREOF, the undersigned have each caused this Reaffirmation and Consent to be
executed as of the date of the Amendment. 
  

			
	STINSON SEAFOOD (2001), INC.,
	a Delaware corporation
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	 BUMBLE BEE HOLDINGS, INC., formerly known as Castleberry’s Food Company,

a Georgia corporation

		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	BB ACQUISITION (PR),
	a Delaware limited partnership
		
	By:	 	 Bumble Bee International (PR), Inc.

its General Partner

		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	BPM SERVICIOS, S.A. DE C.V.,
	a Mexican corporation
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	
	BRUNSWICK PESCADOS & MARISCOS, S.A. DE C.V.,
	a Mexican corporation
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	CLOVER LEAF HOLDINGS COMPANY,
	a Nova Scotia unlimited company
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	6162410 CANADA LIMITED,
	a corporation formed under the federal laws of Canada
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	K.C.R. FISHERIES LTD.,
	a corporation formed under the laws of New Brunswick
		
	By:	 	  

	Name:	 	  

	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}]]