SEC Contract Filing

Filing Date: 2022-01-25

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>tm224221d1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
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<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SIMPLY GOOD FOODS COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDED AND RESTATED </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXECUTIVE SEVERANCE COMPENSATION PLAN </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Effective January 20, 2022)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SIMPLY GOOD FOODS COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDED AND RESTATED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXECUTIVE SEVERANCE COMPENSATION PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(January 20, 2022)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARTICLE I</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>INTRODUCTION; ESTABLISHMENT OF PLAN</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board of Directors (the
 &#8220;<U>Board</U>&#8221;) of The Simply Good Foods Company (the &#8220;<U>Company</U>&#8221;) believes it is consistent with the Company&#8217;s
and its Affiliates&#8217; employment practices and policies and in the best interests of the Company and its stockholders to treat fairly
its executive employees whose employment terminates without cause and to establish up front the terms and conditions of an executive&#8217;s
separation from employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board further recognizes
that, as is the case with many publicly held corporations, the possibility of a Change in Control (as defined below) or the need to terminate
members of senior managements exists. These possibilities, and the uncertainty they create with executives, may be detrimental to the
Company and its stockholders if executives are distracted and/or leave the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board considers the avoidance
of such loss and distraction to be essential to protecting and enhancing the best interests of the Company and its stockholders. &nbsp;The
Board also believes that when a Change in Control is perceived as imminent, or is occurring, the Board should be able to receive and rely
on disinterested service from executive employees regarding the best interests of the Company and its stockholders without concern that
the executive employees might be distracted or concerned by their personal uncertainties and risks created by the perception of an imminent
or occurring Change in Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Accordingly, the Board has
determined appropriate steps should be taken to assure the Company and its Affiliates of the executive employees&#8217; continued employment
and attention and dedication to duty, and to seek to ensure the availability of their continued service, notwithstanding the possibility,
threat or occurrence of a termination of employment or a Change in Control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In order to fulfill the above
purposes, the Company hereby establishes a severance compensation plan known as The Simply Good Foods Company Amended and Restated Executive
Severance Compensation Plan (the &#8220;<U>Plan</U>&#8221;), effective as of the Effective Date, as set forth in this document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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