SEC Contract Filing

Filing Date: 2018-07-31

Document Content:
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<TYPE>EX-10.1
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<DESCRIPTION>EXHIBIT 10.1
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 Exhibit 10.1</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right"><u>STRICTLY CONFIDENTIAL</u></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">EXECUTION VERSION</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">SUPERVALU INC.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">11840 Valley View Road</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">Eden Prairie, Minnesota&#160; 55344</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">July 30, 2018</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Blackwells Capital LLC</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Mr. Jason Aintabi</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">600 Madison Avenue, 18<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup> Floor</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">New York, New York&#160; 10022</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Ladies and Gentlemen:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; TEXT-INDENT: 72pt">This letter agreement (this &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Agreement</u></font>&#8221;) constitutes the agreement between SUPERVALU INC., a Delaware corporation (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Company</u></font>&#8221;), Blackwells Capital LLC (&#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Blackwells</u></font>&#8221;) and Jason Aintabi (&#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Mr. Aintabi</u></font>&#8221; and, together with Blackwells, the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Blackwells Parties</u></font>&#8221;), with respect to the matters set forth below, including with respect to the election of directors at the Company&#8217;s 2018 Annual Meeting of Stockholders (including any adjournment or postponement thereof, the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>2018 Annual Meeting</u></font>&#8221;).&#160; Each of the Company, Blackwells and Mr. Aintabi is referred to herein as a &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Party</u></font>&#8221; and, collectively, as the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Parties</u></font>.&#8221;&#160; Certain capitalized terms used herein are defined in paragraph 8 below.</div>

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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">1.</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Withdrawal of Blackwells Parties&#8217; Director Nominations</u></font>.&#160; Each Blackwells Party, on behalf of itself and its Affiliates, hereby (a) irrevocably withdraws all director nominations and any related materials, demands or notices submitted to the Company in connection therewith or related thereto with respect to the 2018 Annual Meeting, (b) irrevocably withdraws the proposal notified by or on behalf of it to the Company on March 20, 2018 in connection with the 2018 Annual Meeting and any related materials, demands or notices submitted to the Company in connection therewith or related thereto (the foregoing clauses (a) and (b), collectively, &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Blackwells Nominations and Proposal</u></font>&#8221;), and (c) agrees not to take any further action with respect to the Blackwells Nominations and Proposal or otherwise related to the 2018 Annual Meeting.&#160; Each Blackwells Party (i) hereby further agrees that it will, and that it will cause its Affiliates and its and their respective representatives to, (x) immediately cease any and all solicitation efforts in connection with the 2018 Annual Meeting and (y) promptly following entry into this Agreement (and in any event within two (2) Business Days thereafter), deliver to the Company any proxies that have been received prior to the date of this Agreement by or on behalf of any Blackwells Party or any of its Affiliates with respect to the 2018 Annual Meeting and (z) promptly (and in any event within two (2) Business Days or, if earlier, prior to the date of the 2018 Annual Meeting) deliver to the Company any proxies that are received from and after the date of this Agreement by or on behalf of any Blackwells Party or any of its A