SEC Contract Filing

Filing Date: 2025-07-23

Document Content:
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<TYPE>EX-10.24
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<DESCRIPTION>EX-10.24
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<DIV><FONT size="1" style="font-size:1pt;color:white"> SEPARATION AGREEMENT This Separation Agreement (this &#8220;Separation Agreement&#8221;) between Lamb Weston Holdings, Inc. (the &#8220;Company&#8221;) and Sharon Miller (&#8220;you&#8221; and similar words) sets forth certain terms of your separation from the Company in order for you to receive certain separation payments and benefits, as set forth in detail below. By signing this Separation Agreement, you and the Company agree as follows: 1. STATUS OF EMPLOYMENT You agree that your employment with the Company is terminating effective January 2, 2025 (the &#8220;Separation Date&#8221;). You further agree that, as of the Separation Date, you will terminate from all other positions you hold (if any) as an officer, employee or director of the Company and the Company&#8217;s subsidiaries and affiliates, and that you will promptly execute any documents and take any actions as may be necessary or reasonably requested by the Company to effectuate or memorialize your termination from all positions with the Company and its subsidiaries and affiliates. 2. SEVERANCE BENEFITS In consideration for you (a) signing this Separation Agreement, and (b) signing, no earlier than the Separation Date and no later than 21 days following the Separation Date, a general waiver and release of claims, substantially in the form attached hereto as Exhibit A (the &#8220;Release&#8221;), and letting the Release become effective as set forth in the Release, you will receive the payments and benefits as specified on Exhibit B attached hereto, all subject to applicable tax withholding (the &#8220;Severance Benefits&#8221;). You acknowledge and agree that the Severance Benefits do not constitute benefits to which you would otherwise be entitled as a result of your termination of employment with the Company, that the Severance Benefits would not be due unless you sign the Release, and that the Severance Benefits constitute fair and adequate consideration for your promises and covenants set forth in this Separation Agreement and the Release. Payment of the Severance Benefits to you is conditioned on your continued compliance with the terms of this Separation Agreement (including compliance with the Restrictive Covenants as defined below and described herein). 3. RESTRICTIVE COVENANTS By signing this Separation Agreement, you reaffirm and, subject to applicable law, agree to comply with the restrictive covenant obligations (including but not limited to the confidentiality, non-competition and non-solicitation provisions) set forth in (a) Annex B to the Executive Change of Control Severance Plan Participation Agreement you signed when you became eligible to participate in the Executive Change of Control Severance Plan (a copy of which will be provided to you separately) notwithstanding that you will not be receiving any severance under such </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white">2 plan, and (b) certain of your equity award agreements (such provisions in (a) and (b) above, collectively, the &#8220;Restrictive Covenants&#8221;). Notwithstanding anything in this Separation Agreement or the Restrictive Covenants to the contrary, nothing in this Separation Agreement or the Restrictive Covenants prevents you from providing, without prior notice to the Company, information to governmental authorities regarding possible legal violations or otherwise testifying or participating in any investigation or proceeding by any governmental authorities regarding possible legal violations, and for purpose of clarity you are not prohibited from providing information voluntarily to the Securities and Exchange Commission pursuant to Section 21F of the Securities Exchange Act of 1934, as amended. No Company policy or individual agreement between the Company and you shall prevent you from providing information to government authorities regarding possible legal violations, participating in investigations, testifying in proceedings regarding the Company&#8217;s past or future conduct, engaging in any future activities protected under the whistleblower statutes administered by any government agency (e.g., EEOC, NLRB, SEC, etc.) or receiving a monetary award from a government- administered whistleblower award program for providing information directly to a government agency. The Company nonetheless asserts and does not waive its attorney-client privilege over any information appropriately protected by privilege. By executing this Separation Agreement you represent that, as of the date you sign this Separation Agreement, no claims, lawsuits, or charges have been filed by you or on your behalf against the Company or any of its legal predecessors, successors, assigns, fiduciaries, parents, subsidiaries, divisions or other affiliates, or any of the foregoing&#8217;s respective past, present or future principals, partners, shareholders, directors, officers, employees, agents, consultants, attorneys, trustees, administrators, executors or representatives. You acknowledge and agree that you have in a timely manner received or waived all applicable notices required to be given to you in connection with the termination of your employment with the Company. The Company agrees that this Separation Agreement does not extend t