SEC Contract Filing

Filing Date: 2015-08-14

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit1.htm
<DESCRIPTION>EX-10.1
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<P align="right" style="font-size: 10pt"><FONT style="font-size: 12pt"><B>Exhibit&nbsp;10.1</B></FONT>

<P align="left" style="font-size: 12pt"><B>August&nbsp;10, 2015</B>

<P align="left" style="font-size: 12pt">Mr.&nbsp;Albert Bolles
<BR>
1104 W. Watling
<BR>
Arlington Heights, IL 60004

<P align="left" style="font-size: 12pt"><B>RE: Separation Agreement</B>

<P align="left" style="font-size: 12pt">Dear Al:

<P align="left" style="font-size: 12pt">This letter agreement (&#147;Agreement&#148;) describes the components of your separation package. If you
agree to the terms of this Agreement you will receive the benefits described below.

<P align="left" style="font-size: 12pt"><U><B>Termination Date</B></U>

<P align="left" style="font-size: 12pt">Your last day of active employment with ConAgra Foods, Inc. (&#147;ConAgra Foods&#148; or the &#147;Company&#148;,
references to which shall include ConAgra Foods&#146; subsidiaries, affiliates, joint ventures, or
successors (as used in this Agreement the term &#147;successors&#148; shall expressly include, but not be
limited to, any potential or actual buyer of ConAgra Foods&#146; private brands activities)) will be
August&nbsp;1, 2015 (&#147;the Termination Date&#148;). This Agreement will become effective once you have signed
it and you have not exercised your right to revoke the Agreement within the Revocation Period
described below (the &#147;Effective Date&#148;).

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 <TD width="1%" nowrap align="right"><B>1.</B></TD>
 <TD width="1%">&nbsp;</TD>
 <TD><B>Supplemental Unemployment Benefits (SUB):</B></TD>
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 <TD width="4%" style="background: transparent">&nbsp;</TD>
 <TD width="1%" nowrap align="right">a.</TD>
 <TD width="1%">&nbsp;</TD>
 <TD>On the first pay day following the expiration of the Revocation Period
described in paragraph 12 below, you will begin to receive Supplemental Unemployment
Benefits (&#147;SUB&#148;) pay at your current bi-weekly rate of Eighteen Thousand Two Hundred
Sixty-Nine and 23/100 Dollars ($18,269.23), less deductions required by law to be
withheld, and will continue to receive such payments for a period of sixty-one (61)
weeks, until September&nbsp;30, 2016 (i.e., payments totaling $557,211.52, in the
aggregate), except as provided in paragraph 16. You are under no obligation to seek
other employment and there shall be no offset solely on account of your receipt of
compensation or benefits from a subsequent employer.</TD>
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 <TD width="2%" style="background: transparent">&nbsp;</TD>
 <TD width="1%" nowrap align="right">b.</TD>
 <TD width="1%">&nbsp;</TD>
 <TD>Provided you were enrolled in ConAgra Foods&#146; medical, dental or vision plans at the
time of your termination, you and your dependents, if previously enrolled, will be
eligible to continue coverage at your current coverage levels. Most individuals will be
eligible for COBRA continuation for up to eighteen (18)&nbsp;months. You will pay the entire
premium cost. Premium cost and payment information will be provided to you in a separate
letter. PayFlex will mail the enrollment forms to your address of record within two to
three weeks after your Termination Date. To enroll for COBRA coverage, you must return all
applicable forms to PayFlex Systems, the COBRA administrator, within sixty (60)&nbsp;days after
receipt. Questions should be directed to PayFlex Systems at (877)&nbsp;284&#172;0395. If you do not
elect COBRA coverage, your coverage will otherwise cease at the end of the pay period in
which your employment is terminated.</TD>
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<P align="left" style="margin-left:6%; font-size: 12pt">If you elect COBRA coverage, ConAgra Foods will provide to you, on a bi-weekly basis, a
taxable payment which will represent the approximate value of your previous
employer-paid contribution in order to offset the cost of COBRA continuation. To
partially offset the taxable status, 25% will be added to this payment. This payment
will be based on your elected benefits at the time of termination. You will be eligible
to receive this payment for the number of weeks you are receiving SUB payments under
paragraph 1.a. above, up to a maximum of eighteen (18)&nbsp;months, provided you maintain
COBRA coverage.

<P align="left" style="margin-left:6%; font-size: 12pt">Regardless of whether you sign this Agreement, to the extent that you were previously
enrolled in ConAgra Foods&#146; medical, dental or vision plans, you will receive COBRA
information.

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<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
 <TD width="2%" style="background: transparent">&nbsp;</TD>
 <TD width="1%" nowrap align="right">c.</TD>
 <TD width="1%">&nbsp;</TD>
 <TD>Your 401(k) participation eligibility will end on your Termination Date. Vesting is
according to the plan design schedule.</TD>
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