Second Amendment to the Campbell Soup Company Supplemental Retirement Plan effective September 16, 2020

EX-10.BB 2 cpb-exhibit10bb.htm EX-10.BB Document

EXHIBIT 10(bb)

Second Amendment to the

Campbell Soup Company

Supplemental Retirement Plan

WHEREAS, Campbell Soup Company (“Company”) previously established the Campbell Soup Company Supplemental Retirement Plan (the “Plan”) primarily to provide eligible executives of the Company and any designated subsidiary with an additional method of planning for retirement and other significant saving needs with respect to amounts deferred or vested after 2004;

WHEREAS, pursuant to Article IX of the Plan, the corporate officer in charge of Human Resources of the Company reserves the right to amend or terminate the Plan;

WHEREAS, pursuant to Article I, Sections 1.20 of the Plan, the corporate officer in charge of Human Resources of the Company reserves the right to designate a participating employer in the Plan; and

WHEREAS, the corporate officer in charge of Human Resources desires to amend the Plan to remove certain participating employers in the Plan who are no longer subsidiaries of the Company and revise the eligibility for certain non-elective contributions under the Plan.

NOW, THEREFORE, BE IT:

RESOLVED, effective June 17, 2019 and September 23, 2019, respectively, Wm. Bolthouse Farms, Inc. and Kelsen, Inc. are hereafter no longer deemed participating employers in the Plan and each entity is hereafter no longer included in the definition of “Employer” under Article I, Section 1.20 of the Plan and as set forth in Exhibit A, which is attached hereto;

RESOLVED, effective August 1, 2019, Article II, Section 2.1 is amended to read, in its entirety, as follows:

2.1 Eligibility. Each Eligible Executive with a salary level of A, B, or C may elect to defer his or her Compensation in accordance with the Plan. Each Director may elect to defer his or her Director’s Fees in accordance with the Plan. Rules regarding both Initial Distribution Elections and Subsequent Deferral Elections by Eligible Executives are provided in Article V.

Each Eligible Executive whose annual base salary and annual incentive compensation award equal or exceed the amount required by the Plan Administrator shall be eligible for Supplemental Match contributions. Each Eligible Executive who commences employment with, or is rehired by, an Employer on or after January 1, 2011, and is not eligible to accrue benefits under the SERP, shall be eligible for Supplemental Retirement Contributions if the Eligible Executive's annual base salary and annual incentive compensation award equal or exceed the amount required by the Plan Administrator. Each Eligible Executive hired, rehired or promoted into a position with either a salary grade of 46 or above on or after January 1, 2011 who is not eligible to accrue benefits under the Mid-Career Plan, or with a salary level of A on or after August 1, 2015, shall be eligible for Executive Retirement Contributions. In addition, the Chief

Executive Officer reserves the right to designate certain Eligible Executives to receive this benefit.

IN WITNESS WHEREOF, this instrument has been executed on September 16, 2020.

Campbell Soup Company

By: /s/ Xavier Boza

Xavier Boza

EVP & Chief Human Resources Officer

Exhibit A

Designated Subsidiaries

January 1, 2011


Campbell Investment Company
Campbell Finance Corp. LLC
Campbell Food Service Company
Campbell Sales Company
Campbell Soup Supply Company LLC
Campbell Urban Renewal Corporation
CSC Brands LP
CSC Insights, Inc.
CSC Standards, Inc.
Ecce Panis, Inc.
Garden Fresh Gourmet Foods, Inc. (the legal entity formerly known as Stockpot, Inc.).
Joseph Campbell Company
Pepperidge Farm, Incorporated
January 1, 2014 Plum PBC August 1, 2018 Baptista’s Bakery, LLC S-L Distribution Company, LLC S-L Snacks AZ, LLC S-L Snacks GA, LLC S-L Snacks IN, LLC S-L Snacks Logistics, LLC S-L Snacks MA, LLC S-L Snacks National, LLC S-L Snacks NC, LLC S-L Snacks OH, LLC S-L Snacks OR, LLC S-L Snacks PA, LLC S-L Snacks WI, LLC Snyder’s-Lance, Inc. January 1, 2019 Pacific Foods of Oregon, LLC