Amendment One to ConAgra Foods, Inc. Directors’ Deferred Compensation Plan (September 2009 Restatement)

Summary

ConAgra Foods, Inc. has amended its Directors’ Deferred Compensation Plan to clarify language regarding when a director's service ends. Specifically, the amendment changes the phrase “ceases to be a director” to “separates from service” in two sections of the plan. This change was approved by a subcommittee of the Human Resources Committee of the Board of Directors on December 10, 2010. The amendment aims to provide clearer guidance on the conditions under which directors' compensation deferrals are addressed.

EX-10.4 5 c63558exv10w4.htm EX-10.4 exv10w4

Exhibit 10.4

AMENDMENT ONE
CONAGRA FOODS, INC.
DIRECTORS’ DEFERRED COMPENSATION PLAN
(September, 2009 Restatement)

This Amendment One to the ConAgra Foods, Inc. Directors’ Deferred Compensation Plan (the “Plan”) is adopted by ConAgra Foods, Inc. (the “Company”) and is effective on the date this Amendment is adopted by the subcommittee of the Human Resources Committee (the “Committee”) of the Board of Directors (the “Adoption Date”), pursuant to the authority (a) delegated to the Committee by the Board of Directors of the Company in resolutions adopted November 30, 2010 and (b) delegated to the subcommittee by the Committee in resolutions adopted November 29, 2010.

RECITALS

1. The Company desires to amend the Plan to clarify a phrase in the Plan.

AMENDMENT

1. The phrase, “ceases to be a director” in Sections 3.6 and 3.11 is replaced with “separates from service”.

This Amendment One is adopted by the subcommittee of the Human Resources Committee of the Board of Directors at its December 10, 2010 meeting.