SEC Contract Filing

Filing Date: 2017-06-28

Document Content:
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">June&nbsp;27, 2017 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Brian J.
Driscoll </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Brian: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of <FONT
STYLE="white-space:nowrap">Snyder&#146;s-Lance,</FONT> I am pleased to offer you the position of President and Chief Executive Officer reporting to the Board of Directors. Below are the details of your employment offer: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Start Date:</B> June&nbsp;27, 2017 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Base Compensation:
</B>Annualized base salary of $900,000 subject to<B> </B>applicable withholdings. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Annual Incentive Plan (AIP) Participation:</B> AIP target of 100% of
base salary. You are eligible to participate in the 2017 performance year on a <FONT STYLE="white-space:nowrap">pro-rated</FONT> basis based on your effective start date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Long Term Incentive Plan Participation: </B>First annual grant beginning in quarter one, 2018 at $2,800,000. Components of the plan design include
restricted stock, stock options and performance shares. Further details of the plan are specified in the 2016 Key Employee Incentive Plan document. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Benefits and additional details: </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Eligibility to participate in all of our Company sponsored benefit and retirement plans at the terms and rates offered to other associates within the Company. </TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top">Five weeks of paid vacation effective in 2017. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">Relocation benefits to support your move to Charlotte (please see attached relocation policy). As part of the relocation package, you will receive a <FONT STYLE="white-space:nowrap">one-time</FONT> lump sum gross amount
of $50,000 for incidental relocation expenses such as house hunting, return and final trips, and miscellaneous relocation expenses. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We
remind you that you will be an <FONT STYLE="white-space:nowrap">&#147;at-will&#148;</FONT> employee, meaning that you or <FONT STYLE="white-space:nowrap">Snyder&#146;s-Lance</FONT> may terminate the employment at any time for any reason not
prohibited by law with or without prior notice. Nothing in this offer letter alters your status as an <FONT STYLE="white-space:nowrap">&#147;at-will&#148;</FONT> employee. Further, nothing in this offer is intended to create a contract for
employment or guarantee of continued employment with <FONT STYLE="white-space:nowrap">Snyder&#146;s-Lance.</FONT> However, you are eligible for an executive severance agreement. Details of this agreement are outlined in the separate document titled
<B>Executive Severance.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Your acceptance of this offer may be communicated by signing below and forwarding a copy to my attention. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Brian, on behalf of the Board of Directors, I would like to thank you for serving as interim CEO during the past few months, and we look forward to working
with you in this new capacity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sincerely, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/ Jim
Johnston </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jim Johnston </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chairman of the Board </P>
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