Document:

Employment Agreement between Registrant and Craig F. Maier

 EXHIBIT 10.16 
 EMPLOYMENT AGREEMENT 
 This Agreement is made effective as of June 3, 2009, by and between
Frisch’s Restaurants, Inc., an Ohio corporation (hereinafter referred to as “Corporation”) and Craig F. Maier (hereinafter referred to as “Maier”). 
 WHEREAS, Maier is the President and Chief Executive Officer of the Corporation; and 
 WHEREAS, the Corporation and Maier agree that Maier’s compensation should be based upon the Corporation’s performance; and 
 WHEREAS, the Corporation has employed Maier pursuant to an employment agreement dated May 31, 2006, which expires on June 2, 2009. 

NOW, THEREFORE, in consideration of the mutual agreements herein contained, the parties do hereby agree upon the following terms and conditions of
this Employment Agreement. 
 1. Employment. The Corporation agrees to employ Maier and Maier agrees to serve the Corporation upon the terms and
conditions hereinafter set forth. 
 2. Term. The employment of Maier hereunder shall be for a period of three fiscal years, commencing June 3,
2009 and ending on May 29, 2012. 
 3. Duties and Responsibilities. Maier agrees to serve the Corporation and its subsidiaries and divisions
faithfully, ethically, and to the best of his ability as its President and Chief Executive Officer, under the direction of the Board of Directors. Maier agrees to devote (except as otherwise permitted in paragraph 5) his full business time, energy
and skill to such employment and to perform such other duties as the Board of Directors shall reasonably request from time to time. Maier agrees to perform his duties in compliance with all applicable federal and state laws and regulations, the
rules of the New York Stock Exchange, and all ethical codes, conflict of interest policies, securities trading policies and all other corporate governance and other policies adopted by the Board of Directors of the Corporation from time to time.

 4. Compensation. 
 (a) Base
Salary. During the first fiscal year of his employment hereunder, the Corporation agrees to pay Maier a “Base Salary” of Three Hundred Thousand Dollars ($300,000). Maier’s Base Salary shall be adjusted at the beginning of the
second and third years of this Agreement to reflect One Hundred Percent (100%) of the latest annual change in the Consumer Price Index for All Urban Consumers (“CPI-U”) published by the U.S. Department of Labor; Bureau of Labor
Statistics. 
 (b) Incentive Compensation. In addition to his Base Salary, the Corporation shall pay Maier “Incentive
Compensation,” which shall consist of Base Incentive Compensation and Incremental Incentive Compensation (both defined below), for each fiscal year in which the Corporation’s Pre-Tax Earnings equal or exceed four percent (4%) of its
Total Revenue for such 

 
year, as reported in the Corporation’s annual report to shareholders. “Pre-Tax Earnings” shall be the amount reported in the annual report,
but shall be computed without reduction for: this Incentive Compensation; the value of stock options granted by Corporation and deducted as an expense in calculating Pre-Tax Earnings; and performance based bonuses paid to participants in the
Corporation’s Senior Executive Bonus Plan. 
 Maier’s “Base Incentive
Compensation” shall be one and one-half percent (1- 1/2%) of the Corporation’s Pre-Tax Earnings. However, the amount of
the Base Incentive Compensation in a fiscal year shall be reduced, if necessary, so that the Corporation’s Pre-Tax Earnings, after reduction for the Base Incentive Compensation, shall not be less than four percent (4%) of the
Corporation’s Total Revenue for that fiscal year. 
 In addition, if the Pre-Tax Earnings of the Corporation equal or exceed five
percent (5%) of its Total Revenue for that year, the Corporation shall pay Maier “Incremental Incentive Compensation” equal to an additional one percent (1%) of the Corporation’s Pre-Tax Earnings. 
 Ninety percent of the Incentive Compensation shall be paid in cash and ten percent shall be paid in shares of the Corporation’s common stock.

 The number of shares allocated to Maier shall be determined by dividing the amount of Incentive Compensation to be paid in shares by the
Average Value of the Corporation’s common shares during the fiscal year for which the Incentive Compensation has been earned. The “Average Value” of the Corporation’s shares for any fiscal year shall be the mean between the
highest price at which common shares were traded during such year and the lowest price. 
 Examples: 
 If the Corporation has Total Revenue of $300,000,000 and Pre-Tax Earnings (before calculation of Maier’s Incentive Compensation) of $16,000,000 in a
fiscal year, Maier would earn both Base and Incremental Incentive Compensation since Pre-Tax Earnings exceeded 5% of Total Revenue. The Incentive Compensation of two and one-half percent of Pre-Tax Earnings equals $400,000. Ninety percent ($360,000)
is payable in cash and ten percent ($40,000) is payable in shares. If during the applicable fiscal year the Corporation’s shares traded at a high price of $24 and a low price of $16, and therefore the mean price was $20.00 per share, Maier
would receive an award of 2,000 shares ($40,000 divided by $20.00 per share = 2,000 shares). 
 If, however, Pre-Tax Earnings had been
$13,000,000 (over 4% of Total Revenue but less than 5%), Maier would have earned Base Incentive Compensation only of $195,000 (one and one-half percent of Pre-Tax Earnings). As in the prior example, ninety percent is payable in cash and ten percent
in shares. 
 Finally, if Pre-Tax Earnings had been $12,100,000 (over 4% of Total Revenue but less than 5%), Maier would have earned Base
Incentive Compensation only. 

  

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However, if the Corporation paid the Incentive Compensation of $181,500 (one and one-half percent of Pre-Tax Earnings), its Pre-Tax Earnings (after reduction
for Incentive Compensation) would fall below 4% of Total Revenue. Therefore, the Incentive Compensation would be reduced to $100,000—the largest amount that could be paid so that the Company’s Pre-Tax Earnings, after reduction for
Incentive Compensation, are not less than 4% of Total Revenue. As in the prior example, ninety percent is payable in cash and ten percent in shares. 
 The shares granted as Incentive Compensation will not be registered under the Securities Act of 1933, as amended, and each stock certificate will bear the following legend or one similar thereto: “The shares
represented by this certificate have been acquired for investment and have not been registered under the Securities Act of 1933. The shares may not be sold or transferred in the absence of such registration or an exemption therefrom under said
Act.” 
 (c) Contribution to Nondeferred Cash Balance Plan. In any year in which the Corporation’s Pre-Tax Earnings equal or
exceed 4% of Total Revenue, the Corporation shall make a contribution to the trust established for the benefit of Maier under the Frisch’s Restaurants, Inc. Nondeferred Cash Balance Plan (the “Plan”) as follows: 
  

				
	 Pre-Tax Earnings As a Percentage Of Total Revenue
	  	Contribution to the Plan
As a Percentage of Salary	 
	 At least 4%, but less than 5%
	  	18	%
	 At least 5%, but less than 6%
	  	37	%
	 At least 6%
	  	55	%

 All amounts contributed to the Plan by Corporation shall be subject to the terms and conditions of
the Plan. 
 (d) Stock Options. On the day of the annual shareholders’ meeting in each year of his employment hereunder, the
Corporation agrees to grant Maier options to purchase 3,000 shares of the Corporation’s common stock. 
 The exercise price of an option
shall be the “Fair Market Value” of the stock on the date of the grant of the option. “Fair Market Value” shall be the closing price of the common shares of the Corporation on the New York Stock Exchange on the date value is to
be determined, or if there has been no sale on that date, then the exercise price shall be determined by the closing price on the last preceding date on which a sale was made on the New York Stock Exchange. 
 An option shall expire ten years from the date it is granted. 
 An option may not be exercised until Maier has completed a one year period of employment with the Corporation following the date of the grant (“Vested”). If Maier’s 

  

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employment with the Corporation terminates for any reason other than his death, disability (as defined in subsection 4(e)), or retirement, any option which
is not then Vested shall be cancelled. 
 The Compensation Committee of the Corporation’s Board of Directors may impose such other terms
and conditions upon the options as are consistent with the terms and conditions of options granted by the Corporation to its non-employee directors. 
 (e) Disability Compensation. If Maier becomes Disabled during the term of this Agreement when the Corporation still actively employs him, the Corporation shall pay Disability Compensation (defined below) to
Maier. “Disabled” shall mean a condition which entitles Maier to receive benefits under the Corporation’s long term disability plan as it exists at the time the determination that Maier is Disabled is made. 
 The annual amount of the “Disability Compensation” shall be Sixty Percent (60%) of Maier’s Average Compensation at the time he
becomes Disabled, reduced by any disability benefits to which Maier is entitled under disability income plans (including insurance funded plans) maintained by the Corporation. “Average Compensation” means the total compensation, including
Incentive Compensation, earned by Maier in the three fiscal years preceding the year in which he becomes Disabled; divided by 3. 
 The
Disability Compensation shall be paid to Maier monthly while he is alive, for a period of 120 months, provided that Maier has not willfully violated any of the provisions of this Agreement. Maier’s Disability Compensation shall be increased on
each anniversary of the commencement of payments by One Hundred Percent (100%) of the latest annual change in the CPI-U. 
 5. Restrictive
Covenants. Maier agrees that during the term of this Agreement, including any renewals, he will not, without the prior written consent of the Corporation, directly or indirectly render any services to, become employed by, or otherwise
participate in, any business which is competitive with any of the businesses of the Corporation or its subsidiaries or divisions. Notwithstanding the foregoing, nothing herein shall prohibit Maier from: 
  

	 	(a)	owning and operating the franchise known as Frisch’s New Richmond Big Boy, Inc.; 

  

	 	(b)	operating or otherwise providing services to any other franchisee of Corporation; 

  

	 	(c)	owning stock or other securities, or serving as a director or officer of a corporation conducting a business referred to in subparagraph (a); 

  

	 	(d)	owning stock or other securities of competitors which are sold in a public market and which comprise less than five percent (5%) of the total outstanding stock of such
corporation. 

  

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 6. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the heirs and successors of
the parties. Any successor of the Corporation shall be deemed substituted for the Corporation under the terms of this Agreement. A “Successor” of the Corporation shall include any person or entity that at any time, whether by
merger, purchase or otherwise, acquires all or substantially all of the capital stock, assets or business of the Corporation. 
 7. Change in Control.
Maier and the Corporation have previously entered into an Agreement granting Maier certain rights in the event of a “Change in Control” of the Corporation (as defined in such Agreement). Such Agreement was amended on October 7, 2008.
Maier and the Corporation hereby reaffirm such Agreement and confirm that its provisions are in addition to this Agreement and control in the event of a conflict with this Agreement. 
 IN WITNESS WHEREOF, Frisch’s Restaurants, Inc. has caused this Agreement to be executed in its corporate name by Michael E. Conner, its Vice President of Human Resources, thereunto duly authorized by its Board of
Directors, and Craig F. Maier has hereunto set his hand, effective as of the date set forth above. 
  

							
	 /s/ Craig F. Maier
	 		 	FRISCH’S RESTAURANTS, INC.
	Craig F. Maier	 		 		 	
		 		 	By:	 	 /s/ Michael E. Conner

	Dated: April 10, 2009	 		 		 	Michael E. Conner
		 		 		 	Vice President of Human Resources
				
		 		 	Dated:	 	April 10, 2009

  

 5Exhibit 4.1

 Exhibit 4.1 
 McCORMICK & COMPANY, INCORPORATED 
 2009 EMPLOYEES STOCK PURCHASE PLAN 
 Section 1. Purpose 
 The purpose of the McCormick &
Company, Incorporated 2009 Employees Stock Purchase Plan is to provide employees of McCormick & Company, Incorporated and “Participating Employers” (as defined in Section 3) an opportunity to purchase shares of the
Company’s Common Stock Non-Voting pursuant to options granted under the terms of this Plan. The Plan is designed to qualify as an “employee stock purchase plan” under section 423 of the “Code,” and shall be interpreted
consistently with the requirements of section 423. 
 Section 2. Effective Date 
 The Plan is effective upon the adoption of the Plan by the Board, subject to the approval of this Plan by the stockholders of the Company within twelve months of the Board’s adoption of this Plan. 
 Section 3. Definitions 
 For purposes of this Plan, unless
otherwise clearly apparent from the context, the following phrases or terms shall have the meanings indicated: 
  

	(a)	“Account” means a separate bookkeeping account in which the Participating Employer records the payroll deductions pursuant to Section 7 and cash payments pursuant to
Section 10 for each Eligible Employee. 

  

	(b)	“Board” means the Board of Directors of the Company. 

  

	(c)	“Business Day” means a day on which both the Company and the New York Stock Exchange are open. 

  

	(d)	 “Change in Control” means (1) the consolidation or merger of the Company with or into another entity where the Company is not the continuing or
surviving corporation, or pursuant to which shares of the Company’s capital stock are converted into cash, securities or other property, except for any consolidation or merger of the Company in which the holders (excluding any “Substantial
Stockholder” as defined in Section 4, “Common Stock,” subsection (b)(2)(H) of the Certificate of Incorporation of the Company as in effect as of the date hereof (the “Charter”)) of the Company’s (A) voting
Common Stock, (B) Common Stock Non-Voting, and (C) other classes of voting stock, if any, immediately before the consolidation or merger shall, upon consummation of the consolidation or merger, own in excess of fifty percent (50%) of
the voting stock of the surviving corporation; (2) any sale, lease, exchange or other transfer (in one transaction or a series of transactions contemplated or arranged by any party as a single plan) of all or substantially all of the assets of
the Company; (3) any person (as such term is used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as amended) becoming the “beneficial owner” (as defined in Section 4, “Common Stock,” subsection
(b)(2)(C) of the Charter), directly or indirectly, of securities of the Company representing more than thirteen percent (13%) (the “Specified Percentage”) of the voting power of all the outstanding securities of the Company having the
right to vote in an election of the Board (after giving effect, to the extent applicable, to the operation of Section 4, “Common Stock,” subsection (b) of the Charter) (including, without 

  

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limitation, any securities of the Company that any such person has the right to acquire pursuant to any agreement, or upon exercise of conversion rights,
warrants or options, or otherwise, which shall be deemed beneficially owned by such person), provided, however, that in the event that the vote limitation with respect to Substantial Stockholders set forth in Section 4, “Common
Stock,” subsection (b) of the Charter becomes inoperative by virtue of the operation of Section 4, “Common Stock,” subsection (b)(12) of the Charter, or otherwise, the “Specified Percentage” shall be increased,
without requirement for further action, to thirty-five percent (35%); or (4) individuals, who constitute the entire Board, elected by the Company’s stockholders at its most recent annual meeting of stockholders and any new directors who
have been appointed to the Board by a vote of at least a majority of the directors then in office, having ceased for any reason to constitute a majority of the members of the Board. 

  

	(e)	“Code” means the U.S. Internal Revenue Code of 1986, as amended. 

  

	(f)	“Committee” means the Management Committee of the Company. 

  

	(g)	“Company” means McCormick & Company, Incorporated. 

  

	(h)	“Company Stock” means Common Stock Non-Voting of the Company. 

  

	(i)	“Compensation” means the base wage paid to such employee by the Company for the Offering Period, computed as follows: 

  

	 	1.	if on May 1 of the Plan Year in which the Offering Period commences, the employee is paid on an hourly basis, the straight-line hourly base wage rate of such employee in effect
on such May 1, multiplied by (i) 2080 hours (40 hours per week multiplied by 52 weeks), or (ii) such other number as the Committee determines to constitute the number of hours in a normal work year for such employee; or

  

	 	2.	if, on May 1 of such Plan Year, the employee is paid on a salaried basis, the annual salary of such employee in effect on such May 1. 

  

	(j)	“Eligible Employee” means an individual who meets the criteria for participation in the Plan under Section 5. 

  

	(k)	“Offering Period” means a one-year period beginning on July 1. 

  

	(l)	“Option” means an option to purchase shares of Company Stock that meets the requirements of Section 6. 

  

	(m)	“Option Exercise Date” means the date on which the Option is exercised, but in no event later than the last day of the Offering Period. The Option Exercise Date must be a
Business Day. 

  

	(n)	“Participating Employer” means the Company and any “related corporation” (as defined in Treas. Reg. § 1.423-2) designated as a Participating Employer by the
Board. 

  

	(o)	“Plan Year” means the one-year period beginning on January 1, except that the first Plan Year shall be the period beginning on the effective date of the Plan and
ending on December 31, 2009. 

  

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 Section 4. Number of Shares Offered 
 Except as provided in Section 15, a maximum of seven hundred and fifty thousand (750,000) shares of Company Stock may be issued under this Plan. 
 Section 5. Eligible Employees 
 All persons who on May 1 of a Plan Year are employees of the Company or a
Participating Employer will be eligible to participate in this Plan for the Offering Period beginning in such Plan Year, except for the following who shall not be eligible: 
  

	(a)	Any employee who, immediately after such May 1, is considered to own (under Sections 423(b)(3) and 424(d) of the Code) stock possessing five (5) percent or more of the
total combined voting power or value of all classes of stock of the Company or of any subsidiary corporation of the Company (as determined in accordance with section 424(f) of the Code); and 

  

	(b)	Any employee residing in a jurisdiction on such May 1 where the offer or sale of the shares provided by this Plan is not authorized or permitted by applicable law.

 Section 6. Options 
 On the first
Business Day in July of each Plan Year, each individual who is an Eligible Employee on such date shall be granted an Option. The terms of such Option shall be as follows: 
  

	(a)	The grant date of the Option shall be the first Business Day in July of the Plan Year in which it is granted. 

  

	(b)	The exercise price of the Option shall be ninety-five percent (95%) of the closing price of the Company Stock on the New York Stock Exchange on the Option Exercise Date.

  

	(c)	The term of the Option shall be the Offering Period beginning in the Plan Year in which the Option is granted. 

  

	(d)	The number of shares of Company Stock that may be purchased under the Option shall be determined by dividing the payroll deductions and cash payments, if any, credited to the
Eligible Employee’s Account on the Option Exercise Date by the exercise price of the Option on the Option Exercise Date, subject to the maximum set forth in Section 7(c). 

 Section 7. Election to Purchase and Payroll Deduction 
  

	(a)	No later than the last Business Day in May of a Plan Year (or such earlier date as the Committee may designate for this purpose), an Eligible Employee may elect to participate in
the Offering Period beginning in such Plan Year. Such election shall be made by the execution and delivery to the Participating Employer of an approved written or electronic form authorizing uniform periodic payroll deductions over a one-year period
beginning with the first payroll payment date on or after July 1 of such Plan Year, subject to any minimum that the Committee shall establish for this purpose and the maximum amounts set forth in Section 7(b), Section 7(c) and
Section 7(d). If an Eligible Employee fails to make such an election by the last Business Day in May of the Plan Year (or such earlier date as the Committee may establish), the Option provided to him or her by this Plan for the Offering Period
beginning in such Plan Year shall terminate on that date. To the extent permitted by Section 10, an Eligible Employee may elect to make periodic cash payments for the shares that he or she is entitled to purchase under Section 6.

  

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	(b)	No Eligible Employee shall be granted an Option under the Plan which permits the Eligible Employee’s rights to purchase stock under this Plan and under all other employee stock
purchase plans (within the meaning of section 423(b) of the Code) of the Company and its subsidiary corporations to accrue at a rate which exceeds Twenty Five Thousand Dollars ($25,000) of the fair market value of such stock (determined at the time
such Option is granted) for each calendar year in which such Option is outstanding at any time. This provision shall be interpreted in accordance with Section 423(b) of the Code and the regulations and guidance thereunder.

  

	(c)	The maximum number of shares of Company Stock that may be purchased under an Option shall be determined by dividing Twenty Five Thousand Dollars ($25,000) by the closing price of
the Company Stock on the New York Stock Exchange on the date on which such Option is granted. This limitation is in addition to the limitations imposed by Section 7(b) and Section 7(d), and any election to purchase a greater number of
shares under an Option shall be reduced automatically. 

  

	(d)	The maximum payroll deduction which may be elected by an Eligible Employee shall be five percent (5%) of the Eligible Employee’s Compensation on May 1 of the Plan
Year in which the Offering Period begins. This limitation is in addition to the limitations imposed by Section 7(b) and Section 7(c), and any election to take a greater payroll deduction shall be reduced automatically.

 Section 8. Exercise of Option 
  

	(a)	On the last Business Day in an Offering Period, each Eligible Employee with an outstanding Option shall either (1) exercise the Eligible Employee’s Option to purchase the
number of shares (or any portion thereof) that may then be purchased at the purchase price specified in Section 6(b) with all or part of the amount then credited to the Eligible Employee’s Account and withdraw in cash any amount that
remains credited to his or her Account after such purchase, or (2) withdraw in cash all amounts that are credited to the Eligible Employee’s Account. 

  

	(b)	An Eligible Employee may, on any Business Day prior to the end of the Offering Period, by written notice to the Participating Employer, direct the Participating Employer to cease
payroll deductions (or, if the payment for shares is being made through periodic cash payments permitted by Section 10, notify the Participating Employer that such payments will be terminated) or withdraw part or all of the amount then credited
to Eligible Employee’s Account, in accordance with the following alternatives: 

  

	 	(1)	Exercise the Eligible Employee’s Option to purchase the number of shares or any portion thereof) that may then be purchased at the purchase price specified in Section 6(b)
with all or part of the amount then credited to the Eligible Employee’s Account, withdraw in cash any amount that remains credited to Eligible Employee’s Account after such purchase, and terminate the Eligible Employee’s Option for
the Offering Period; or 

  

	 	(2)	Withdraw in cash the amount then credited to the Eligible Employee’s Account and terminate the Eligible Employee’s Option for the Offering Period.

  

	(c)	An Eligible Employee may make only one withdrawal of all or part of the amount then credited to the Eligible Employee’s Account. Once a withdrawal is made, no further payroll
deductions will be taken in that Offering Period and the Eligible Employee may not make any further cash payments pursuant to Section 10 in such Offering Period. 

  

	(d)	Any reduction made in the number of shares subject to an Option is subject to the provisions of this Plan and shall not be changed for the remainder of the Offering Period.

  

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	(e)	Notwithstanding any other provision of this Plan, an Eligible Employee may not exercise an Option for less than ten shares (unless the Option is being exercised for all of the
shares then remaining under the Option). 

 Section 9. Termination of Employment 
  

	(a)	If an Eligible Employee experiences a separation from service from a Participating Employer prior to the end of the Offering Period, he or she may elect, no later than thirty
(30) days after the Eligible Employee’s separation from service (but no later than the last Business Day of the Offering Period), to: 

  

	 	(1)	Exercise the Eligible Employee’s Option to purchase the number of shares (or any portion thereof) that may then be purchased at the purchase price specified in
Section 6(b) with all or part of the amount then credited to the Eligible Employee’s Account, withdraw in cash the amount that remains credited to the Eligible Employee’s Account after such purchase, and terminate the Eligible
Employee’s Option for such Offering Period; or 

  

	 	(2)	Withdraw in cash the amount then credited to the Eligible Employee’s Account and terminate the Eligible Employee’s Option for such Offering Period.

  

	(b)	If the Eligible Employee elects to exercise his or her Option on or after the date on or after the date of the Eligible Employee’s separation from service, the Eligible
Employee’s Option shall be deemed to be exercised on the last business day of the Eligible Employee’s employment with the Participating Employer. 

  

	(c)	If the Eligible Employee fails to make such election within thirty (30) days after the Eligible Employee’s separation from service, he or she shall be deemed to have
elected to make a cash withdrawal in accordance with Section 9(a)(2). 

 Section 10. Lay-Off, Authorized Leave of Absence or
Disability 
  

	(a)	If an Eligible Employee is absent from work due to lay-off, authorized leave of absence or disability, payroll deductions may be suspended during such period of absence, and the
Eligible Employee may elect to make periodic cash payments for such shares during the Eligible Employee’s period of absence. 

  

	(b)	If such Eligible Employee returns to active service prior to the last Business Day of the Offering Period, the Eligible Employee’s payroll deductions shall resume, and if said
Eligible Employee did not make periodic cash payments during the Eligible Employee’s period of absence, he or she shall, by written notice to the Participating Employer within ten (10) days after the Eligible Employee’s return to
active service, but not later than the last Business Day of the Offering Period, elect to: 

  

	 	(1)	Make an immediate cash payment sufficient to eliminate any deficiency in the amount then credited to the Eligible Employee’s Account as a result of the suspension of payroll
deductions; or 

  

	 	(2)	Not eliminate any such deficiency, but resume payroll deductions for the remainder of the Offering Period; 

  

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	 	(3)	Withdraw in cash the amount then credited to the Eligible Employee’s Account and terminate the Eligible Employee’s Option for the Offering Period; or

  

	 	(4)	Increase withholding in an amount which will eliminate the deficiency by the last day of the Offering Period. 

  

	(c)	An Eligible Employee on lay-off, authorized leave of absence or disability on the last Business Day of an Offering Period shall deliver written notice to the Participating Employer
on or before such date electing one of the alternatives provided in subsections (b)(1), (b)(2), (b)(3) and (b)(4) of this Section 10. If such Eligible Employee fails to deliver such written notice within ten (10) days after his return to
active service or by the last day of such Offering Period, whichever is earlier, he shall be deemed to have elected the alternative set forth in Section 10(b)(3). 

  

	(d)	If the period of an Eligible Employee’s lay-off, authorized leave of absence or disability terminates on or before the last Business Day of a Plan Year, and the employee does
not resume active employment with a Participating Employer immediately thereafter, he or she shall make an election in accordance with the provisions of Section 9. 

 Section 11. Death 
  

	(a)	If an Eligible Employee dies before the end of an Offering Period, the legal representative of such Eligible Employee’s estate may, within ninety (90) days after such
Eligible Employee’s death (but not later than the last day of the Offering Period in which he died), by providing written notice to the Participating Employer that employed the Eligible Employee, elect to: 

  

	 	(1)	Exercise the Eligible Employee’s Option to purchase the number of shares (or any portion thereof) then available for purchase hereunder at the purchase price specified in
Section 6(b) hereof with all or part of the amount then credited to the Eligible Employee’s Account, withdraw in cash any amount that remains credited to such Eligible Employee’s Account after such purchase, and terminate the Eligible
Employee’s Option; or 

  

	 	(2)	Withdraw in cash the amount then credited to the Eligible Employee’s Account and terminate Eligible Employee’s Option. 

  

	(b)	If the legal representative of the Eligible Employee’s estate fails to deliver such written notice to the Participating Employer within the period prescribed by this
Section 11, such Eligible Employee’s Option to purchase shares hereunder shall terminate, and the amount then credited to such Eligible Employee’s Account shall be paid to the Eligible Employee’s estate. 

Section 12. Funds in Accounts 
 The Company shall control all
of the funds credited to Eligible Employees’ Accounts under the Plan and may use such funds for any corporate purpose. The Eligible Employee, his or her heirs, successors, and assigns, shall have no legal rights, interests or claims in any
property or assets of the Company or a Participating Employer and shall be an unsecured general creditor of the Company. The Participating Employers shall remit to the Company from time to time the funds credited to the Accounts of the Eligible
Employees of such Participating Employers. In accordance with the terms of this Plan, (a) the amount credited to the Account of each Eligible Employee under the Plan shall be used to pay for any shares purchased by such Eligible Employee (or
his or her estate, as directed by its legal representative) under the Plan, and (b) the Company shall pay to such Eligible Employee (or his or her estate, as directed by its legal representative) an amount equal to any portion of the amount
credited to such Eligible 

  

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Employee’s Account that is not used to purchase shares under this Plan, including amounts in an Eligible Employee’s Account that are not sufficient
to purchase a whole share of Company Stock at the end of an Offering Period. Eligible Employees’ Accounts shall not be credited with interest or any other form of earnings or investment returns. 
 Section 13. Rights as Stockholder 
 No employee, former employee,
estate of an employee or a former employee, or legal representative of an employee, former employee, or estate of an employee or former employee shall have any rights as a stockholder with respect to any shares of Company Stock that such employee,
former employee, estate or legal representative has elected to purchase under this Plan until full payment for all such shares has been made and such shares have been issued. Shares shall be issued as soon as practicable after full payment for such
shares has been made. However, shares shall not be issued prior to approval of the Plan by the stockholders of the Company. 
 Section 14.
Non-Assignability 
 An Eligible Employee’s Option is not assignable or transferable other than by will or the laws of descent and
distribution and is exercisable during such Eligible Employee’s lifetime only by him or her. Any purported assignment or transfer of an Option, whether voluntary or by operation of law (except by will or the laws of descent and distribution),
shall have the effect of terminating such Option. If an Option is terminated by reason of the provisions of this Section 14, the only right thereafter continuing shall be the right to have the amount then credited to the Eligible
Employee’s Account paid to such Eligible Employee or his or her legal representative, as the case may be. 
 Section 15. Effect of Change in
Stock 
 In the event of any change in the capital stock of the Company through merger, consolidation or reorganization, or in the event of any dividend
to holders of shares of the Company Stock payable in stock of the same class in an amount in excess of two (2) percent in any year, or in the event of a stock split, or in the event of any other change in the capital structure of the Company,
the Company shall make such adjustments with respect to the shares subject to this offering as it deems equitable to prevent dilution or enlargement of the rights of Eligible Employees. 
 Section 16. Change in Control 
 In addition to any action required or authorized by the Plan and the terms of an
Option, the Committee may take any other action it deems appropriate to ensure the equitable treatment of Eligible Employees in the event of, or in anticipation of a Change in Control, including but not limited to any one or more of the following
with respect to any or all Options: (a) provision for the settlement of the Options for their equivalent cash value, as determined by the Committee, as of the date of the Change in Control; and (b) such other modification or adjustment to
the Options as the Committee deems appropriate to maintain and protect the rights and interests of Eligible Employees upon or following the Change in Control. 
 Section 17. Administration 
  

	(a)	The Committee, or such employee or employees as the Committee may designate, shall be responsible for administering this Plan, including the interpretation of its provisions, and
the decision of the Committee or of such employee or employees with respect to any question arising under the Plan shall be final and binding for all purposes. 

  

	(b)	 The Committee shall have the discretion and authority to (1) make, amend, interpret, and enforce all appropriate rules and regulations for the administration
of this Plan, and (2) decide or resolve any and all questions, including interpretations of this Plan and facts that are relevant to the administration of the Plan, as may arise in connection with the Plan. Any individual serving on 

  

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the Committee who is an Eligible Employee shall not vote or act on any matter relating solely to himself or herself. When making a determination or
calculation, the Committee shall be entitled to rely on information furnished by an Eligible Employee or a Participating Employer. 

  

	(c)	In the administration of this Plan, the Committee may, from time to time, employ or designate agents and delegate to them such administrative duties as it sees fit (including acting
through a duly appointed representative) and may from time to time consult with counsel who may be counsel to any Participating Employer. 

  

	(d)	The decision or action of the Committee with respect to any question arising out of or in connection with the administration, interpretation and application of the Plan, and the
rules and regulations promulgated by the Committee hereunder, shall be final and conclusive and binding upon all persons having any interest in the Plan. 

  

	(e)	All Participating Employers shall indemnify and hold harmless the members of the Committee, and any employee to whom duties of the Committee may be delegated, against any and all
claims, losses, damages, expenses or liabilities arising from any action or failure to act with respect to this Plan, except in case of willful misconduct by the Committee or any of its members or any such employee. 

  

	(f)	To enable the Committee to perform its functions, each Participating Employer shall supply full and timely information to the Committee on all matters relating to the compensation
and employment of its Eligible Employees, including but not limited to, the date and circumstances of any lay-off, leave of absence, or disability, and such other pertinent information as the Committee may reasonably require.

  

	(g)	Any actions taken hereunder, including any valuation of the amount, or designation of a recipient, of any payment to be made hereunder, shall be binding and conclusive on all
persons for all purposes. 

  

	(h)	Uniform policies shall be pursued in the administration of this Plan and similarly situated employees and groups of employees shall be treated alike to the extent feasible. The
Committee, or such employee or employees as the Committee may designate to administer this Plan, shall have the authority, which shall be exercised without discrimination, to make exceptions to the provisions of this Plan under unusual circumstances
where strict adherence to such provisions would work undue hardship and where the Committee, or such employee or employees, determines that such action does not violate the requirements of the Code with respect to employee stock purchase plans.

  

	(i)	The Committee may allow a reasonable extension of the time within which an election to purchase shares under this Plan shall be made if the Committee determines that there are
circumstances warranting such action and that such action does not violate the requirements of section 423(b) of the Internal Revenue Code with respect to employee stock purchase plans, in which event such extension shall be made available on a
uniform basis to all employees similarly situated; provided that the period for payroll deductions for a given Offering Period shall not be extended beyond June 30 of the Plan Year in which the Offering Period ends. 

 Section 18. Miscellaneous 
  

	(a)	 Not a Contract of Employment. The terms and conditions of this Plan shall not be deemed to constitute a contract of employment between any Participating
Employer and the Eligible Employee. Such employment is hereby acknowledged to be an “at will” employment relationship 

  

 A-8 

	 	 
that can be terminated at any time for any reason, or no reason, with or without cause, and with or without notice, except as otherwise provided in a written
employment agreement. Nothing in this Plan shall be deemed to give an Eligible Employee the right to be retained in the service of any Participating Employer as an employee or to interfere with the right of any Participating Employer to discipline
or discharge the Eligible Employee at any time. 

  

	(b)	Furnishing Information. Each Eligible Employee, or legal representative of the estate of an Eligible Employee, shall cooperate with the Committee by furnishing any and all
information requested by the Committee and take such other actions as may be requested in order to facilitate the administration of the Plan and the exercise of Options hereunder. 

  

	(c)	Governing Law. The provisions of this Plan shall be construed and interpreted according to the Code and the internal laws of the State of Maryland without regard to its
conflicts of laws principles. 

  

	(d)	Required or Permitted Notices. Any notice or filing required or permitted to be given to the Committee under this Plan shall be sufficient if in writing and hand-delivered,
or sent by registered or certified mail, to the address below: 

 McCormick & Company, Incorporated 
 18 Loveton Circle 
 Sparks, Maryland 21152

 Attn: Vice President – Human Relations 
 Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark or the receipt for registration or certification. Any notice or filing required or
permitted to be given to a Eligible Employee under this Plan shall be sufficient if in writing and hand-delivered, or sent by mail, to the last known address of the Eligible Employee. 
  

	(e)	Successors. The provisions of this Plan shall bind and inure to the benefit of the Eligible Employee’s Participating Employer, the Eligible Employee, and their
successors and assigns. 

  

	(f)	Severability. If any provision of the Plan shall be held unlawful or otherwise invalid or unenforceable in whole or in part, the unlawfulness, invalidity, or unenforceability
shall not affect any other provision of the Plan, each of which shall remain in full force and effect. 

  

	(g)	Payment on Behalf of Person Unable to Manage Affairs. If the Committee shall find that any person to whom any amount is payable under this Plan is unable to care for his or
her affairs because of illness or accident, or is a minor, any payment due (unless a prior claim therefore shall have been made by a duly appointed guardian, committee or other legal representative) may be paid to the spouse, a child, a parent, or a
brother or sister, or to any person deemed by the Committee to have incurred expense for such person otherwise entitled to payment, in such manner and proportions as the Committee may determine. The Committee may require proof of minority,
incompetence, incapacity or guardianship, as it may deem appropriate prior to distribution of the benefit. Any such payment shall be a complete discharge of the liabilities of the Company under this Plan. 

  

	(h)	Other Benefits and Agreements. The Options provided for an Eligible Employee and under the Plan are in addition to any other options, compensation or benefits that may be
available to such Eligible Employee under any other plan or program for employees of the Participating Employer. The Plan shall supplement and shall not supersede, modify or amend any other such plan or programs, except as may otherwise be expressly
provided. 

  

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 Section 19. Amendment and Discontinuance 
 The Board may, at any time, amend, modify, alter, suspend or terminate the Plan, whole or in part; provided, however, that, except to conform the Plan from time to time to the requirements of the Code with respect to
employee stock purchase plans, no action of the Board shall (a) increase the period during which this Plan shall remain in effect, (b) further limit the class of employees of the Company and its subsidiaries who are eligible to participate
in the Plan, (c) increase the maximum period during which any option granted under the Plan may remain unexercised, (d) other than as set forth in Section 15, increase the number of shares that may be issued under the Plan, or reduce
the purchase price per share, with respect to the shares optioned or to be optioned under the Plan, or (e) without the consent of the holder of the Option, alter or impair any Option granted under the Plan, unless such affected holder consents
in writing to such amendment. If all of the shares authorized by Section 4 are issued before all of the Options granted under this Plan have been exercised in full or have expired or terminated, the then-outstanding Options shall terminate, and
the holders of such Options shall have no rights thereunder. Although the Company anticipates that the Participating Employers will continue to participate in the Plan for an indefinite period of time, there is no guarantee that any Participating
Employer will continue the Plan. Accordingly, the Company reserves the right to discontinue the participation of any Participating Employer at any time by action of the Board. 
  

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