<SEC-DOCUMENT>0001104659-24-032398.txt : 20240308
<SEC-HEADER>0001104659-24-032398.hdr.sgml : 20240308
<ACCEPTANCE-DATETIME>20240308161531
ACCESSION NUMBER:		0001104659-24-032398
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		18
CONFORMED PERIOD OF REPORT:	20240305
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20240308
DATE AS OF CHANGE:		20240308

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HORMEL FOODS CORP /DE/
		CENTRAL INDEX KEY:			0000048465
		STANDARD INDUSTRIAL CLASSIFICATION:	MEAT PACKING PLANTS [2011]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				410319970
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1027

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-02402
		FILM NUMBER:		24734547

	BUSINESS ADDRESS:	
		STREET 1:		1 HORMEL PL
		CITY:			AUSTIN
		STATE:			MN
		ZIP:			55912-3680
		BUSINESS PHONE:		(507) 437-5611

	MAIL ADDRESS:	
		STREET 1:		1 HORMEL PLACE
		CITY:			AUSTIN
		STATE:			MN
		ZIP:			55912-3680

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HORMEL GEO A & CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tm247685d6_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<XBRL>
<?xml version='1.0' encoding='ASCII'?>
<html xmlns="http://www.w3.org/1999/xhtml" xmlns:xs="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:dei="http://xbrl.sec.gov/dei/2023" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:us-gaap="http://fasb.org/us-gaap/2023" xmlns:us-roles="http://fasb.org/us-roles/2023" xmlns:country="http://xbrl.sec.gov/country/2023" xmlns:srt="http://fasb.org/srt/2023" xmlns:hrl="http://hormel.com/20240305">
<head>
     <title></title>
<meta http-equiv="Content-Type" content="text/html"/>
</head>
<!-- Field: Set; Name: xdx; ID: xdx_02C_US%2DGAAP%2D2023 -->
<!-- Field: Set; Name: xdx; ID: xdx_036_hrl_hormel.com_20240305 -->
<!-- Field: Set; Name: xdx; ID: xdx_042_20240305_20240305 -->
<!-- Field: Set; Name: xdx; ID: xdx_059_edei%2D%2DAmendmentFlag_false -->
<!-- Field: Set; Name: xdx; ID: xdx_052_edei%2D%2DEntityCentralIndexKey_0000048465 -->
<!-- Field: Set; Name: xdx; ID: xdx_06B_USD_1_iso4217%2D%2DUSD -->
<!-- Field: Set; Name: xdx; ID: xdx_062_Shares_2_xbrli%2D%2Dshares -->
<!-- Field: Set; Name: xdx; ID: xdx_06D_USDPShares_3_iso4217%2D%2DUSD_xbrli%2D%2Dshares -->
<body style="font: 10pt Times New Roman, Times, Serif">
<div style="display: none">
<ix:header>
 <ix:hidden>
  <ix:nonNumeric contextRef="AsOf2024-03-05" name="dei:AmendmentFlag" id="ixv-340">false</ix:nonNumeric>
  <ix:nonNumeric contextRef="AsOf2024-03-05" name="dei:EntityCentralIndexKey" id="ixv-341">0000048465</ix:nonNumeric>
  </ix:hidden>
 <ix:references>
  <link:schemaRef xlink:href="hrl-20240305.xsd" xlink:type="simple"/>
  </ix:references>
 <ix:resources>
    <xbrli:context id="AsOf2024-03-05">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000048465</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2024-03-05</xbrli:startDate>
        <xbrli:endDate>2024-03-05</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:unit id="USD">
      <xbrli:measure>iso4217:USD</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="Shares">
      <xbrli:measure>xbrli:shares</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="USDPShares">
      <xbrli:divide>
        <xbrli:unitNumerator>
          <xbrli:measure>iso4217:USD</xbrli:measure>
        </xbrli:unitNumerator>
        <xbrli:unitDenominator>
          <xbrli:measure>xbrli:shares</xbrli:measure>
        </xbrli:unitDenominator>
      </xbrli:divide>
    </xbrli:unit>
  </ix:resources>
 </ix:header>
</div>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>

<!-- Field: Rule-Page --><div style="margin-top: 0; margin-bottom: 0; width: 100%"><div style="border-top: Black 2pt solid; border-bottom: Black 1pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>
<p style="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>UNITED STATES</b></p>

<p style="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0; text-align: center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0; text-align: center"><b>Washington, D.C. 20549</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>FORM <span id="xdx_90B_edei--DocumentType_c20240305__20240305_zdCSG0ByjDq5"><ix:nonNumeric contextRef="AsOf2024-03-05" name="dei:DocumentType" id="ixv-361">8-K</ix:nonNumeric></span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>CURRENT REPORT</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported): <span id="xdx_904_edei--DocumentPeriodEndDate_c20240305__20240305_zESl0eVzX9M1"><ix:nonNumeric contextRef="AsOf2024-03-05" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate" id="ixv-362">March 5, 2024</ix:nonNumeric></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-size: 14pt"><b><span id="xdx_903_edei--EntityRegistrantName_c20240305__20240305_znuH4DvW4cf5"><ix:nonNumeric contextRef="AsOf2024-03-05" name="dei:EntityRegistrantName" id="ixv-363">HORMEL FOODS CORPORATION</ix:nonNumeric></span></b></span><b> </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 35%; font-size: 10pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_90A_edei--EntityIncorporationStateCountryCode_c20240305__20240305_z2pSEsdRMjTj"><ix:nonNumeric contextRef="AsOf2024-03-05" format="ixt-sec:stateprovnameen" name="dei:EntityIncorporationStateCountryCode" id="ixv-364">Delaware</ix:nonNumeric></span></b></span></td>
    <td style="font-size: 10pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_90B_edei--EntityFileNumber_c20240305__20240305_zXgMgAtVGOL2"><ix:nonNumeric contextRef="AsOf2024-03-05" name="dei:EntityFileNumber" id="ixv-365">1-2402</ix:nonNumeric></span></b></span></td>
    <td style="width: 35%; font-size: 10pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_90D_edei--EntityTaxIdentificationNumber_c20240305__20240305_zoVgtf4prLja"><ix:nonNumeric contextRef="AsOf2024-03-05" name="dei:EntityTaxIdentificationNumber" id="ixv-366">41-0319970</ix:nonNumeric></span></b></span></td></tr>
<tr>
    <td style="vertical-align: bottom">
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or Other Jurisdiction of</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Incorporation)</p></td>
    <td style="vertical-align: top">
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Commission File</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Number)</p></td>
    <td style="vertical-align: top; font-size: 10pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(IRS Employer Identification Number)</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><span id="xdx_909_edei--EntityAddressAddressLine1_c20240305__20240305_zxORzdxorjc5"><ix:nonNumeric contextRef="AsOf2024-03-05" name="dei:EntityAddressAddressLine1" id="ixv-367">1 Hormel Place</ix:nonNumeric> </span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><span id="xdx_909_edei--EntityAddressCityOrTown_c20240305__20240305_zT0GntGnc0f9"><ix:nonNumeric contextRef="AsOf2024-03-05" name="dei:EntityAddressCityOrTown" id="ixv-368">Austin</ix:nonNumeric></span>, <span id="xdx_904_edei--EntityAddressStateOrProvince_c20240305__20240305_zKke5L8AfFw7"><ix:nonNumeric contextRef="AsOf2024-03-05" name="dei:EntityAddressStateOrProvince" id="ixv-369">MN</ix:nonNumeric></span> <span id="xdx_90A_edei--EntityAddressPostalZipCode_c20240305__20240305_zNNWlwd7k6Y3"><ix:nonNumeric contextRef="AsOf2024-03-05" name="dei:EntityAddressPostalZipCode" id="ixv-370">55912</ix:nonNumeric> </span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of Principal Executive Office,
including zip code)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(<span id="xdx_90C_edei--CityAreaCode_c20240305__20240305_zV8exvgEpSsl"><ix:nonNumeric contextRef="AsOf2024-03-05" name="dei:CityAreaCode" id="ixv-371">507</ix:nonNumeric></span>) <span id="xdx_904_edei--LocalPhoneNumber_c20240305__20240305_zgTjuMOKAI2f"><ix:nonNumeric contextRef="AsOf2024-03-05" name="dei:LocalPhoneNumber" id="ixv-372">437-5611</ix:nonNumeric></span> </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&#8217;s telephone number, including
area code</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><span style="font-family: Wingdings"><span id="xdx_900_edei--WrittenCommunications_c20240305__20240305_z1ywCTKDRSof"><ix:nonNumeric contextRef="AsOf2024-03-05" format="ixt:booleanfalse" name="dei:WrittenCommunications" id="ixv-373">&#168;</ix:nonNumeric></span></span> </span>Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Wingdings"><span style="font-family: Wingdings"><span id="xdx_90E_edei--SolicitingMaterial_c20240305__20240305_zHew4MOwxbCd"><ix:nonNumeric contextRef="AsOf2024-03-05" format="ixt:booleanfalse" name="dei:SolicitingMaterial" id="ixv-374">&#168;</ix:nonNumeric></span></span></span> <span style="font-family: Times New Roman, Times, Serif"> </span>Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><span style="font-family: Wingdings"><span id="xdx_904_edei--PreCommencementTenderOffer_c20240305__20240305_zlgj13GZJQBf"><ix:nonNumeric contextRef="AsOf2024-03-05" format="ixt:booleanfalse" name="dei:PreCommencementTenderOffer" id="ixv-375">&#168;</ix:nonNumeric></span></span></span>
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><span style="font-family: Wingdings"><span id="xdx_903_edei--PreCommencementIssuerTenderOffer_c20240305__20240305_zHzKae8FhK28"><ix:nonNumeric contextRef="AsOf2024-03-05" format="ixt:booleanfalse" name="dei:PreCommencementIssuerTenderOffer" id="ixv-376">&#168;</ix:nonNumeric></span></span></span>
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-top-width: 0in; border-top-color: Black">Securities registered
pursuant to Section 12(b) of the Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-top-width: 0in; border-top-color: Black">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="vertical-align: bottom; width: 32%; font-size: 10pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Title of each class</span></td>
    <td style="vertical-align: top; font-size: 10pt; width: 2%">&#160;</td>
    <td style="vertical-align: bottom; width: 32%; font-size: 10pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Trading Symbol</span></td>
    <td style="vertical-align: bottom; width: 2%">&#160;</td>
    <td style="vertical-align: bottom; width: 32%; font-size: 10pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Name of each exchange on which registered</span></td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_903_edei--Security12bTitle_c20240305__20240305_zSUJ92BbF7eh"><ix:nonNumeric contextRef="AsOf2024-03-05" name="dei:Security12bTitle" id="ixv-377">Common Stock $0.01465 par value</ix:nonNumeric></span></b></span></td>
    <td style="font-size: 10pt; text-align: center">&#160;</td>
    <td style="font-size: 10pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_906_edei--TradingSymbol_c20240305__20240305_zJnOFxaHVYxf"><ix:nonNumeric contextRef="AsOf2024-03-05" name="dei:TradingSymbol" id="ixv-378">HRL</ix:nonNumeric></span></b></span></td>
    <td>&#160;</td>
    <td style="font-size: 10pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_901_edei--SecurityExchangeName_c20240305__20240305_zVdmzu0HgXAf"><ix:nonNumeric contextRef="AsOf2024-03-05" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="ixv-379">New York Stock Exchange</ix:nonNumeric></span></b></span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Emerging growth company <span style="font-family: Wingdings"><span id="xdx_903_edei--EntityEmergingGrowthCompany_c20240305__20240305_zIn4BR35wLC5"><ix:nonNumeric contextRef="AsOf2024-03-05" format="ixt:booleanfalse" name="dei:EntityEmergingGrowthCompany" id="ixv-380">&#168;</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. <span style="font-family: Wingdings">&#168;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>

<!-- Field: Rule-Page --><div style="margin-top: 0; margin-bottom: 0; width: 100%"><div style="border-top: Black 1pt solid; border-bottom: Black 2pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

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

<!-- Field: Page; Sequence: 1 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
  <tr style="vertical-align: top">
    <td style="font-size: 10pt; width: 1in"><span style="font-size: 10pt"><b>Item 1.01.</b></span></td>
    <td style="font-size: 10pt"><span style="font-size: 10pt"><b><span style="text-decoration: underline">Entry into a Material Definitive Agreement.</span></b></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On March 5, 2024, Hormel Foods Corporation (the &#8220;<span style="text-decoration: underline">Company</span>&#8221;)
entered into an Underwriting Agreement (the &#8220;<span style="text-decoration: underline">Underwriting Agreement</span>&#8221;) with BofA Securities, Inc., J.P. Morgan Securities
LLC, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters listed in Schedule
1 therein (collectively, the &#8220;<span style="text-decoration: underline">Underwriters</span>&#8221;), pursuant to which the Company agreed to issue and sell and the Underwriters
have severally agreed to purchase an aggregate principal amount of $500,000,000 principal amount of its 4.800% Notes due 2027 (the &#8220;<span style="text-decoration: underline">Notes</span>&#8221;),
which are further described below.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Underwriting Agreement contains representations, warranties and
covenants that are customary for transactions of this type. It also provides for customary indemnification by each of the Company and
the Underwriters against certain liabilities and customary contribution provisions in respect of those liabilities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">The Notes
were offered pursuant to the Company&#8217;s Registration Statement on Form S-3 (Registration No. 333-</span> 268693) (the &#8220;<span style="text-decoration: underline">Registration
Statement</span>&#8221;), which became effective upon filing with the Securities and Exchange Commission, and the related Prospectus dated
December 6, 2022 (the &#8220;<span style="text-decoration: underline">Prospectus</span>&#8221;) and Prospectus Supplement dated March 5, 2024 (the &#8220;<span style="text-decoration: underline">Prospectus Supplement&#8221;)</span>.
A copy of the Underwriting Agreement is attached hereto as Exhibit 1.1 and is expressly incorporated by reference herein and into the
Registration Statement. The foregoing description of the terms of the Underwriting Agreement is qualified in its entirety by reference
to the actual terms thereof.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41pt 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 1in"><b>Item 2.03.</b></td><td><b><span style="text-decoration: underline">Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</span></b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41pt 0pt 0">On March 8, 2024, pursuant to the Underwriting Agreement,
the Company issued $500,000,000 principal amount of the Notes. The Notes were issued and sold pursuant to the previously disclosed Underwriting
Agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Notes were issued pursuant to the Indenture, dated as of April
1, 2011 (the &#8220;<span style="text-decoration: underline">Indenture</span>&#8221;), between the Company and U.S. Bank Trust Company, National Association (as successor to U.S.
Bank National Association), as trustee (the &#8220;Trustee&#8221;). Interest on the Notes will accrue at a rate of 4.800% per annum and
will be payable semi-annually in arrears on each March 30 and September 30, commencing September 30, 2024. The Notes will mature on March
30, 2027. The Notes are direct unsecured obligations of the Company and will rank equally with all of the Company&#8217;s other unsecured
and unsubordinated indebtedness from time to time outstanding.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">The Company
may redeem the Notes, in whole at any time or in part from time to time, at its option. If the Company redeems the Notes before February
28, 2027 (the &#8220;<span style="text-decoration: underline">Par Call Date</span>&#8221;), the redemption price (expressed as a percentage of principal amount and rounded to
three decimal places) will equal the greater of: (i) 100% of the principal amount of the Notes to be redeemed; and (ii) the sum of the
present values of the remaining scheduled payments of principal and interest thereon</span> discounted to the redemption date (assuming
the notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury
Rate (as defined in the Notes), plus 10 basis points less (b) interest accrued to the date of redemption, plus, in either case, accrued
and unpaid interest thereon to but excluding the redemption date. If the Company redeems the Notes on or after the Par Call Date, the
redemption price will equal 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest thereon to but excluding
the redemption date.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If a Change of Control Triggering Event (as defined in the Notes) occurs,
unless the Company has exercised its option to redeem the Notes, the Company will be required to offer to purchase the Notes at a purchase
price equal to 101% of their principal amount, plus accrued and unpaid interest, if any, to the date of purchase.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Indenture includes certain restrictive covenants, including covenants
that limit the ability of the Company to, among other things, incur debt for borrowed money secured by certain liens and engage in certain
sale and leaseback transactions. These covenants are subject to important exceptions and qualifications set forth in the Indenture and
described in the Prospectus and Prospectus Supplement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Indenture contains customary terms, including that upon certain
events of default occurring and continuing, either the Trustee or the holders of at least 25% in aggregate principal amount of the Notes
then outstanding may declare the entire principal of all the Notes to be due and payable immediately.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41pt 0pt 0"></p>

<!-- Field: Page; Sequence: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41pt 0pt 0">The following documents relating to the Notes are filed herewith
as exhibits and incorporated by reference into this Form 8-K and the Registration Statement: (i) the form of the 2027 Notes and (ii) the
opinion of Faegre Drinker Biddle &amp; Reath LLP. The foregoing summary of the Notes is qualified in its entirety by reference to the
form of the Notes attached hereto.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41pt 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
  <tr style="vertical-align: top">
    <td style="font-size: 10pt; width: 1in"><span style="font-size: 10pt"><b>Item 9.01.</b></span></td>
    <td style="font-size: 10pt"><span style="font-size: 10pt"><b><span style="text-decoration: underline">Financial Statements and Exhibits.</span></b></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d) Exhibits.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exhibit No.</b></span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 88%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Description</b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt; text-align: center"><a href="tm247685d6_ex1-1.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt"><a href="tm247685d6_ex1-1.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting Agreement dated March 5, 2024 among Hormel
    Foods Corporation and BofA Securities, Inc., J.P. Morgan Securities LLC, U.S. Bancorp Investments, Inc. and Wells Fargo Securities,
    LLC, as representatives of the several underwriters listed in Schedule 1 thereto.</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt; text-align: center"><a href="tm247685d6_ex4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt"><a href="tm247685d6_ex4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of 4.800% Notes due 2027</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt; text-align: center"><a href="tm247685d6_ex5-1.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt"><a href="tm247685d6_ex5-1.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Faegre Drinker Biddle &amp; Reath LLP</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt; text-align: center"><a href="tm247685d6_ex5-1.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1</span></a></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt"><a href="tm247685d6_ex5-1.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Faegre Drinker Biddle &amp; Reath LLP (included
    as part of Exhibit 5.1)</span></a></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cover Page Interactive Data File &#8211; the cover
    page XBRL tags are embedded within the Inline XBRL document.</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">104.1</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The cover page from this Current Report on Form 8-K,
    formatted as Inline XBRL.</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>

<!-- Field: Page; Sequence: 3 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><span style="text-decoration: underline">SIGNATURES</span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">HORMEL
    FOODS CORPORATION</span></b></span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 3%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 47%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Registrant)</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:
    March 8, 2024</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By</span></td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Florence
    Makope</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Florence Makope</span></td></tr>
  <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Vice President and Treasurer</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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

<!-- Field: Page; Sequence: 4; Options: Last -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

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

</body>
</html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>tm247685d6_ex1-1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 1.1</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><B><I>Execution Version</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">HORMEL FOODS CORPORATION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">$500,000,000 <FONT STYLE="font-size: 10pt">4.800</FONT>%
Notes due 2027</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><U>Underwriting Agreement</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><FONT STYLE="font-size: 10pt">March
5</FONT>, 2024</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">BofA Securities, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">J.P. Morgan Securities LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">U.S. Bancorp Investments, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Wells Fargo Securities, LLC</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">As Representatives of the several Underwriters
listed in Schedule 1 hereto</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">c/o BofA Securities, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">One Bryant Park</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">New York, NY 10036</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">c/o J.P. Morgan Securities LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">383 Madison Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">New York, NY 10179</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">c/o U.S. Bancorp Investments,
Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">214 North Tryon Street,
26th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Charlotte, NC 28202</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">c/o Wells Fargo Securities, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">550 South Tryon Street, 5<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Charlotte, NC 28202</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Ladies and Gentlemen:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in">Hormel Foods Corporation,
a Delaware corporation (the &#8220;<B>Company</B>&#8221;), proposes to issue and sell to the several underwriters listed in Schedule
1 hereto (the &#8220;<B>Underwriters</B>&#8221;), for whom you are acting as representatives (the &#8220;<B>Representatives</B>&#8221;),
$500,000,000 principal amount of its <FONT STYLE="font-size: 10pt">4.800</FONT>% Notes due 2027 (the &#8220;<B>Securities</B>&#8221;).
The Securities will be issued pursuant to the Indenture dated as of April 1, 2011 (the &#8220;<B>Indenture</B>&#8221;) between the Company
and U.S. Bank National Association, as trustee (the &#8220;<B>Trustee</B>&#8221;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 35.95pt">The Company hereby confirms
its agreement with the several Underwriters concerning the purchase and sale of the Securities, as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; text-indent: 38.55pt">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Registration Statement. The Company has prepared and filed with the Securities and Exchange Commission (the &#8220;<B>Commission</B>&#8221;)
under the Securities Act of 1933, as amended, and the rules and regulations of the Commission thereunder (collectively, the &#8220;<B>Securities
Act</B>&#8221;), an automatic shelf registration statement on Form S-3 (File No. 333-268693), including the related prospectus (the &#8220;<B>Basic
Prospectus</B>&#8221;), relating to the debt securities to be issued from time to time by the Company. The Company has also filed, or
proposes to file, with the Commission pursuant to Rule 424 under the Securities Act a prospectus supplement specifically relating to
the Securities. The registration statement, as amended at the time it became effective, including the information, if any, deemed pursuant
to Rule 430B under the Securities Act to be part of the registration statement at the time of its effectiveness, is referred to herein
as the &#8220;Registration Statement&#8221;. As used herein, the term &#8220;Prospectus&#8221; means the Basic Prospectus as supplemented
by the prospectus supplement specifically relating to the Securities in the form first used (or made available upon request of purchasers
pursuant to Rule 173 under the Securities Act) in connection with confirmation of sales of the Securities. The term &#8220;Preliminary
Prospectus&#8221; means the preliminary prospectus supplement specifically relating to the Securities together with the Basic Prospectus.
References herein to the Registration Statement, the Basic Prospectus, any Preliminary Prospectus or the Prospectus shall be deemed to
refer to and include the documents incorporated by reference therein pursuant to Item 12 of Form S-3 under the Securities Act (excluding
the Statement of Eligibility and Qualification on Form T-1), as of the effective date of the Registration Statement or the date of such
Basic Prospectus, Preliminary Prospectus or the Prospectus, as the case may be. The terms &#8220;supplement,&#8221; &#8220;amendment&#8221;
and &#8220;amend&#8221; as used herein with respect to the Registration Statement, the Basic Prospectus, any Preliminary Prospectus or
the Prospectus shall be deemed to refer to and include any documents filed by the Company under the Securities Exchange Act of 1934,
as amended, and the rules and regulations of the Commission thereunder (collectively, the &#8220;<B>Exchange Act</B>&#8221;) subsequent
to the date of this Agreement which are deemed to be incorporated by reference therein.</P>

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

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in">At or prior to <FONT STYLE="font-size: 10pt">2:55
P.M., </FONT>New York City time, on the date hereof (being the time when sales of the Securities were first made) (the &#8220;<B>Time
of Sale</B>&#8221;), the Company had prepared the following information (collectively, the &#8220;<B>Time of Sale Information</B>&#8221;):
a Preliminary Prospectus dated <FONT STYLE="font-size: 10pt">March 5</FONT>, 2024, and each &#8220;free-writing prospectus&#8221; (as
defined pursuant to Rule 405 under the Securities Act) listed on Annex A hereto as constituting part of the Time of Sale Information.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 38.55pt">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Purchase of the Securities by the Underwriters. (a) The Company agrees to issue and sell the Securities to the several Underwriters
as provided in this Agreement, and each Underwriter, on the basis of the representations, warranties and agreements set forth herein
and subject to the conditions set forth herein, agrees, severally and not jointly, to purchase from the Company the respective principal
amount of Securities set forth opposite such Underwriter&#8217;s name in Schedule 1 hereto, at a price equal to <FONT STYLE="font-size: 10pt">99.553</FONT>%
of the principal amount of the Securities, plus accrued interest, if any, from <FONT STYLE="font-size: 10pt">March 8</FONT>, 2024 to
the Closing Date (as defined below). The Company will not be obligated to deliver any of the Securities except upon payment for all the
Securities to be purchased as provided herein.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company understands that the Underwriters intend to make a public offering of the Securities as soon after the effectiveness
of this Agreement as in the judgment of the Representatives is advisable, and initially to offer the Securities on the terms set forth
in the Prospectus. The Company acknowledges and agrees that the Underwriters may offer and sell Securities to or through any affiliate
of an Underwriter and that any such affiliate may offer and sell Securities purchased by it to or through any Underwriter.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Payment for and delivery of the Securities will be made at the offices of Davis Polk &amp; Wardwell LLP, 450 Lexington Avenue,
New York, New York 10017 at 10:00 A.M., New York City time, on <FONT STYLE="font-size: 10pt">March 8</FONT>, 2024, or at such other time
or place on the same or such other date, not later than the fifth business day thereafter, as the Representatives and the Company may
agree upon in writing. The time and date of such payment and delivery is referred to herein as the &#8220;Closing Date&#8221;.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Payment for the Securities shall be made by wire transfer in immediately available funds to the account(s) specified by the Company
to the Representatives against delivery to the nominee of The Depository Trust Company (&#8220;<B>DTC</B>&#8221;), for the account of
the Underwriters, of one or more global notes representing the Securities (collectively, the &#8220;<B>Global Note</B>&#8221;), with
any transfer taxes payable in connection with the sale of the Securities duly paid by the Company. The Global Note will be made available
for inspection by the Representatives not later than 1:00 P.M., New York City time, on the business day prior to the Closing Date.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company acknowledges and agrees that the Underwriters are acting solely in the capacity of an arm&#8217;s length contractual
counterparty to the Company with respect to the offering of Securities contemplated hereby (including in connection with determining
the terms of the offering) and not as a financial advisor or a fiduciary to, or an agent of, the Company or any other person. Additionally,
neither the Representatives nor any other Underwriter is advising the Company or any other person as to any legal, tax, investment, accounting
or regulatory matters in any jurisdiction. The Company shall consult with its own advisors concerning such matters and shall be responsible
for making its own independent investigation and appraisal of the transactions contemplated hereby, and the Underwriters shall have no
responsibility or liability to the Company with respect thereto. Any review by the Underwriters of the Company, the transactions contemplated
hereby or other matters relating to such transactions will be performed solely for the benefit of the Underwriters and shall not be on
behalf of the Company.</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>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 38.55pt">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Representations and Warranties of the Company. The Company represents and warrants to each Underwriter that:</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Preliminary Prospectus.</I> No order preventing or suspending the use of any Preliminary Prospectus has been issued by the
Commission, and each Preliminary Prospectus, at the time of filing thereof, complied in all material respects with the Securities Act
and did not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary
in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; <U>provided</U>
that the Company makes no representation or warranty with respect to any statements or omissions made in reliance upon and in conformity
with information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly
for use in any Preliminary Prospectus.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Time of Sale Information</I>. The Time of Sale Information, at the Time of Sale did not, and at the Closing Date will not,
contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading; <U>provided</U> that the Company makes no representation or
warranty with respect to any statements or omissions made in reliance upon and in conformity with information relating to any Underwriter
furnished to the Company in writing by such Underwriter through the Representatives expressly for use in such Time of Sale Information.
No statement of material fact included in the Prospectus has been omitted from the Time of Sale Information and no statement of material
fact included in the Time of Sale Information that is required to be included in the Prospectus has been omitted therefrom.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Issuer Free Writing Prospectus.</I> The Company (including its agents and representatives, other than the Underwriters in their
capacity as such) has not prepared, made, used, authorized, approved or referred to and will not prepare, make, use, authorize, approve
or refer to any &#8220;written communication&#8221; (as defined in Rule 405 under the Securities Act) that constitutes an offer to sell
or a solicitation of an offer to buy the Securities (each such communication by the Company or its agents and representatives (other
than a communication referred to in clauses (i) (ii) and (iii) below) an &#8220;<B>Issuer Free Writing Prospectus</B>&#8221;) other than
(i) any document not constituting a prospectus pursuant to Section 2(a)(10)(a) of the Securities Act or Rule 134 under the Securities
Act, (ii) the Preliminary Prospectus, (iii) the Prospectus, (iv) the documents listed on Annex A hereto as constituting the Time of Sale
Information and (v) any electronic road show or other written communications, in each case approved in writing in advance by the Representatives,
which approval shall not be unreasonably withheld. Each such Issuer Free Writing Prospectus complies in all material respects with the
Securities Act, has been or will be (within the time period specified in Rule 433) filed in accordance with the Securities Act (to the
extent required thereby) and, when taken together with the Preliminary Prospectus accompanying, or delivered prior to delivery of, or
filed prior to the first use of such Issuer Free Writing Prospectus, at the Time of Sale, did not, and at the Closing Date will not,
contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading; <U>provided</U> that the Company makes no representation and
warranty with respect to any statements or omissions made in each such Issuer Free Writing Prospectus in reliance upon and in conformity
with information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly
for use in any Issuer Free Writing Prospectus.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Registration Statement and Prospectus.</I> The Registration Statement is an &#8220;automatic shelf registration statement&#8221;
as defined under Rule 405 of the Securities Act that has been filed with the Commission not earlier than three years prior to the date
hereof; and no notice of objection of the Commission to the use of such registration statement or any post-effective amendment thereto
pursuant to Rule 401(g)(2) under the Securities Act has been received by the Company. No order suspending the effectiveness of the Registration
Statement has been issued by the Commission and no proceeding for that purpose or pursuant to Section 8A of the Securities Act against
the Company or related to the offering has been initiated or threatened by the Commission; as of the applicable effective date of the
Registration Statement and any amendment thereto, the Registration Statement complied and at the Closing Date will comply in all material
respects with the Securities Act and the Trust Indenture Act of 1939, as amended, and the rules and regulations of the Commission thereunder
(collectively, the &#8220;<B>Trust Indenture Act</B>&#8221;), and did not and will not contain any untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading; and
as of the date of the Prospectus and any amendment or supplement thereto and as of the Closing Date, the Prospectus did not and will
not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order
to make the statements therein, in the light of the circumstances under which they were made, not misleading; <I>provided </I>that the
Company makes no representation or warranty with respect to (i) that part of the Registration Statement that constitutes the Statement
of Eligibility and Qualification (Form T-1) of the Trustee under the Trust Indenture Act or (ii) any statements or omissions made in
reliance upon and in conformity with information relating to any Underwriter furnished to the Company in writing by such Underwriter
through the Representatives expressly for use in the Registration Statement, the Time of Sale Information and the Prospectus and any
amendment or supplement thereto.</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>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Incorporated Documents.</I> The documents incorporated by reference in the Registration Statement, the Prospectus and the Time
of Sale Information, when they were filed with the Commission conformed in all material respects to the requirements of the Exchange
Act and none of such documents contained any untrue statement of a material fact or omitted to state a material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and
any further documents so filed and incorporated by reference in the Registration Statement, the Prospectus or the Time of Sale Information,
when such documents are filed with the Commission, will conform in all material respects to the requirements of the Exchange Act, and
will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein, in the light of the circumstances under which they were made, not misleading.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Financial Statements.</I> The financial statements and the related notes thereto included or incorporated by reference in the
Registration Statement, the Time of Sale Information and the Prospectus comply in all material respects with the applicable requirements
of the Securities Act and the Exchange Act, as applicable, and present fairly in all material respects the financial position of the
Company and its subsidiaries as of the dates indicated and the results of their operations and the changes in their cash flows for the
periods specified; such financial statements have been prepared in conformity with generally accepted accounting principles applied on
a consistent basis throughout the periods covered thereby, and the supporting schedules included or incorporated by reference in the
Registration Statement, the Prospectus and the Time of Sale Information present fairly in all material respects the information required
to be stated therein; and the other financial information included or incorporated by reference in the Registration Statement, the Time
of Sale Information and the Prospectus has been derived from the accounting records of the Company and its subsidiaries and presents
fairly in all material respects the information shown thereby.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>No Material Adverse Change.</I> Since the date of the most recent financial statements of the Company included or incorporated
by reference in the Registration Statement, the Time of Sale Information and the Prospectus, (i) there has not been any change in the
capital stock or long-term debt of the Company or any of its subsidiaries, or any dividend or distribution of any kind declared, set
aside for payment, paid or made by the Company on any class of capital stock (except for regular cash dividends consistent with past
practice), or any material adverse change, or any development involving a prospective material adverse change, in or affecting the business,
properties, management, financial position or results of operations of the Company and its subsidiaries taken as a whole; (ii) neither
the Company nor any of its subsidiaries has entered into any transaction or agreement that is material to the Company and its subsidiaries
taken as a whole or incurred any liability or obligation, direct or contingent, that is material to the Company and its subsidiaries
taken as a whole; and (iii) neither the Company nor any of its subsidiaries has sustained any material loss or interference with its
business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor disturbance or dispute
or any action, order or decree of any court or arbitrator or governmental or regulatory authority, except in each case as otherwise disclosed
in the Registration Statement, the Time of Sale Information and the Prospectus.</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>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Organization and Good Standing.</I> The Company and each of Jennie-O Turkey Store, Inc., Hormel Financial Services Corporation
and Hormel Foods Sales, LLC (each of which are significant subsidiaries of the Company pursuant to Rule 1-02 of Regulation S-X under
the Exchange Act) have been duly organized and are validly existing and in good standing under the laws of their respective jurisdictions
of organization, are duly qualified to do business and are in good standing in each jurisdiction in which their respective ownership
or lease of property or the conduct of their respective businesses requires such qualification, and have all power and authority necessary
to own or hold their respective properties and to conduct the businesses in which they are engaged, except where the failure to be so
qualified, in good standing or have such power or authority would not, individually or in the aggregate, have a material adverse effect
on the business, properties, management, financial position or results of operations of the Company and its subsidiaries taken as a whole
or on the performance by the Company of its obligations under this Agreement, the Indenture or the Securities (each, a &#8220;<B>Material
Adverse Effect</B>&#8221;).</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Capitalization.</I> The Company has an authorized capitalization as set forth in the Registration Statement, the Time of Sale
Information and the Prospectus under the heading &#8220;Capitalization.&#8221; All the outstanding shares of capital stock or other equity
interests of the subsidiaries have been duly and validly authorized and issued, are fully paid and non-assessable and (except, in the
case of any foreign subsidiary, for directors&#8217; qualifying shares and, in the case of a joint venture, for the joint venturer&#8217;s
interests) are owned directly or indirectly by the Company, free and clear of any lien, charge, encumbrance, security interest, restriction
on voting or transfer or any other claim of any third party, except as would not have a Material Adverse Effect.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Due Authorization.</I> The Company has full right, power and authority to execute and deliver this Agreement and the Securities
(together with the Indenture, the &#8220;<B>Transaction Documents</B>&#8221;) and to perform its obligations under the Transaction Documents;
and all action required to be taken for the due and proper authorization, execution and delivery of each of the Transaction Documents
and the consummation of the transactions contemplated thereby has been duly and validly taken.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>The Indenture.</I> The Indenture has been duly authorized, executed and delivered by the Company, has been duly qualified under
the Trust Indenture Act and constitutes a valid and legally binding agreement of the Company enforceable against the Company in accordance
with its terms, subject, as to enforcement, to bankruptcy, insolvency, moratorium, reorganization, and other laws of general applicability
relating to or affecting creditors&#8217; rights and to general equity principles (regardless of whether enforceability is considered
in a proceeding in equity or at law) and except further as enforcement thereof may be limited by any governmental authority that limits,
delays or prohibits the making of payments outside the United States (collectively, the &#8220;<B>Enforceability Exceptions</B>&#8221;).</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>The Securities</I>. The Securities have been duly authorized by the Company and, when duly executed, authenticated, issued
and delivered as provided in the Indenture and paid for as provided herein, will be duly and validly issued and outstanding and will
constitute valid and legally binding obligations of the Company enforceable against the Company in accordance with their terms, subject
to the Enforceability Exceptions, and will be entitled to the benefits of the Indenture.</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>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(m)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Underwriting Agreement</I>. This Agreement has been duly authorized, executed and delivered by the Company.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(n)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Descriptions of the Transaction Documents</I>. Each Transaction Document conforms in all material respects to the description
thereof contained in the Registration Statement, the Time of Sale Information and the Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(o)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>No Violation or Default.</I> Neither the Company nor any of its subsidiaries is (i) in violation of its charter or by-laws
or similar organizational documents; (ii) in default, and no event has occurred that, with notice or lapse of time or both, would constitute
such a default, in the due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of
trust, loan agreement or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company
or any of its subsidiaries is bound or to which any of the property, rights or assets of the Company or any of its subsidiaries is subject;
or (iii) in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or
regulatory authority, except in the case of clauses (ii) and (iii) above, for any such default or violation that would not, individually
or in the aggregate have a Material Adverse Effect.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(p)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>No Conflicts.</I> The execution, delivery and performance by the Company of each of the Transaction Documents, the issuance
and sale of the Securities and compliance by the Company with the terms thereof and the consummation of the transactions contemplated
by the Transaction Documents will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute
a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any property, right or asset of the
Company or any of its subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument
to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any
of the property, rights or assets of the Company or any of its subsidiaries is subject, (ii) result in any violation of the provisions
of the charter or by-laws or similar organizational documents of the Company or any of its subsidiaries or (iii) result in the violation
of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority,
except, in the case of clauses (i) and (iii) above, for any such conflict, breach, violation, default, lien, charge or encumbrance that
would not, individually or in the aggregate have a Material Adverse Effect.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(q)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>No Consents Required</I>. No consent, approval, authorization, order, registration or qualification of or with any court or
arbitrator or governmental or regulatory authority is required for the execution, delivery and performance by the Company of each of
the Transaction Documents, the issuance and sale of the Securities and compliance by the Company with the terms thereof and the consummation
of the transactions contemplated by the Transaction Documents, except for the registration of the Securities under the Securities Act,
the qualification of the Indenture under the Trust Indenture Act and such consents, approvals, authorizations, orders and registrations
or qualifications as may be required under applicable state securities or blue sky laws or regulations or Financial Industry Regulatory
Authority, Inc. laws or regulations in connection with the purchase and distribution of the Securities by the Underwriters.</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>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(r)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Legal Proceedings.</I> Except as described in the Registration Statement, the Time of Sale Information and the Prospectus,
there are no legal, governmental or regulatory investigations, actions, suits or proceedings pending to which the Company or any of its
subsidiaries is or may be a party or to which any property of the Company or any of its subsidiaries is or may be the subject that, individually
or in the aggregate would reasonably be expected to have a Material Adverse Effect; no such investigations, actions, suits or proceedings
are to the knowledge of the Company threatened or contemplated by any governmental or regulatory authority or others; and (i) there are
no current or pending legal, governmental or regulatory actions, suits or proceedings that are required under the Securities Act to be
described in the Registration Statement or the Prospectus that are not so described in the Registration Statement, the Time of Sale Information
and the Prospectus and (ii) there are no statutes, regulations or contracts or other documents that are required under the Securities
Act to be filed as exhibits to the Registration Statement or described in the Registration Statement, the Time of Sale Information and
the Prospectus that are not so filed as exhibits to the Registration Statement or described in the Registration Statement, the Time of
Sale Information and the Prospectus.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(s)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Independent Accountants.</I> Ernst &amp; Young LLP, which has certified certain financial statements of the Company and its
subsidiaries, is an independent registered public accounting firm with respect to the Company and its subsidiaries within the applicable
rules and regulations adopted by the Commission and the Public Company Accounting Oversight Board (United States) and as required by
the Securities Act.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(t)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Title to Real and Personal Property.</I> The Company and its subsidiaries have good and marketable title in fee simple to,
or have valid rights to lease or otherwise use, all items of real and personal property that are material to the respective businesses
of the Company and its subsidiaries, in each case free and clear of all liens, encumbrances, claims and defects and imperfections of
title except those that (i) do not materially interfere with the use made and proposed to be made of such property by the Company and
its subsidiaries or (ii) would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(u)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Title to Intellectual Property.</I> The Company and its subsidiaries own or possess adequate rights to use all material patents,
patent applications, trademarks, service marks, trade names, trademark registrations, service mark registrations, copyrights, licenses
and know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures)
necessary for the conduct of their respective businesses; and the conduct of their respective businesses will not conflict in any material
respect with any such rights of others, and the Company and its subsidiaries have not received any notice of any material claim of infringement
or conflict with any such rights of others.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Investment Company Act.</I> The Company is not and, after giving effect to the offering and sale of the Securities and the
application of the proceeds thereof as described in the Registration Statement, the Time of Sale Information and the Prospectus, will
not be an &#8220;investment company&#8221; or an entity &#8220;controlled&#8221; by an &#8220;investment company&#8221; within the meaning
of the Investment Company Act of 1940, as amended, and the rules and regulations of the Commission thereunder (collectively, &#8220;<B>Investment
Company Act</B>&#8221;).</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>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(w)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Taxes.</I> The Company and its subsidiaries have paid all federal, state, local and foreign taxes and filed all tax returns
required to be paid or filed through the date hereof. Except as otherwise disclosed in the Registration Statement, the Time of Sale Information
and the Prospectus and except for taxes being contested in good faith and as to which adequate reserves have been provided in accordance
with generally accepted accounting principles, there is no tax deficiency that has been, or would reasonably be expected to be, asserted
against the Company or any of its subsidiaries or any of their respective properties or assets, except where such tax deficiency would
not, individually or in the aggregate, have a Material Adverse Effect.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(x)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Licenses and Permits.</I> The Company and its subsidiaries possess all licenses, certificates, permits and other authorizations
issued by, and have made all declarations and filings with, the appropriate federal, state, local or foreign governmental or regulatory
authorities that are necessary for the ownership or lease of their respective properties or the conduct of their respective businesses
as described in the Registration Statement, the Time of Sale Information and the Prospectus, except where the failure to possess or make
the same would not, individually or in the aggregate, have a Material Adverse Effect; and except as described in the Registration Statement,
the Time of Sale Information and the Prospectus, neither the Company nor any of its subsidiaries has received notice of any revocation
or modification of any such license, certificate, permit or authorization or has any reason to believe that any such license, certificate,
permit or authorization will not be renewed in the ordinary course.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(y)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>No Labor Disputes.</I> No labor disturbance by or dispute with employees of the Company or any of its subsidiaries exists or,
to the knowledge of the Company, is contemplated or threatened and the Company is not aware of any existing or imminent labor disturbance
by, or dispute with, the employees of any of the Company&#8217;s or any of the Company&#8217;s subsidiaries&#8217; principal suppliers,
contractors or customers, except in each case as would not have a Material Adverse Effect.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(z)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Compliance with Environmental Laws</I>. Except as would not reasonably be expected, individually or in the aggregate, to have
a Material Adverse Effect, (i) the Company and each of its subsidiaries (x) are in compliance with any and all, and have not violated
any, applicable federal, state, local and foreign laws (including common law), rules, regulations, requirements, decisions, orders and
other legally enforceable requirements relating to the protection of human health or safety, the environment, natural resources, hazardous
or toxic substances or wastes, pollutants or contaminants (collectively, &#8220;<B>Environmental Laws</B>&#8221;); (y) have received
and are in compliance with all permits, licenses, certificates or other authorizations or approvals required of them under applicable
Environmental Laws to conduct their respective businesses; and (z) have not received notice of any actual or potential liability or obligation,
or claim, under or relating to any Environmental Laws, including for the investigation or remediation of any disposal or release of hazardous
or toxic substances or wastes, pollutants or contaminants, and have no knowledge of any event or condition that would reasonably be expected
to result in such notice or claim; (ii) there are no costs or liabilities associated with or arising under Environmental Laws of or relating
to the Company or its subsidiaries; and (iii) there is no unresolved or pending charge, complaint, action, suit, proceeding, hearing,
investigation, claim, demand, or notice filed, commenced or, to the knowledge of the Company, threatened against the Company or any of
its subsidiaries alleging any liability under or failure to comply with any Environmental Laws. Except as described in the Registration
Statement, the Time of Sale Information and the Prospectus, (i) there are no proceedings pending, or to the knowledge of the Company,
contemplated, against the Company or any of its subsidiaries under any Environmental Laws in which a governmental entity is also a party,
other than such proceedings regarding which it is reasonably believed no monetary sanctions of $300,000 or more will be imposed, (ii)
there are no facts or issues regarding compliance with Environmental Laws, or liabilities or other obligations under Environmental Laws
that could reasonably be expected to have a material effect on the capital expenditures, earnings or competitive position of the Company
and its subsidiaries and (iii) none of the Company or its subsidiaries anticipates capital expenditures that are material to the Company
and its subsidiaries, taken as a whole, relating to any Environmental Laws.</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>

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(aa)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Disclosure
Controls</I>. The Company and its subsidiaries maintain an effective system of &#8220;disclosure controls and procedures&#8221; (as defined
in Rule 13a-15(e) of the Exchange Act) that complies with the requirements of the Exchange Act and that has been designed to ensure that
information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is recorded, processed,
summarized and reported within the time periods specified in the Commission&#8217;s rules and forms, including controls and procedures
designed to ensure that such information is accumulated and communicated to the Company&#8217;s management as appropriate to allow timely
decisions regarding required disclosure. The Company and its subsidiaries have carried out evaluations of the effectiveness of their
disclosure controls and procedures as required by Rule 13a-15 of the Exchange Act.</FONT></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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(bb)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Accounting
Controls.</I> The Company and its subsidiaries maintain systems of &#8220;internal control over financial reporting&#8221; (as defined
in Rule 13a-15(f) of the Exchange Act) that comply with the requirements of the Exchange Act and have been designed by, or under the
supervision of, their respective principal executive and principal financial officers, or persons performing similar functions, to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes
in accordance with generally accepted accounting principles, including, but not limited to, internal accounting controls sufficient to
provide reasonable assurance that (i) transactions are executed in accordance with management&#8217;s general or specific authorizations;
(ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting
principles and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management&#8217;s general
or specific authorization; (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and
appropriate action is taken with respect to any differences; and (v) interactive data in eXtensible Business Reporting Language included
or incorporated by reference in the Registration Statement, the Prospectus and the Time of Sale Information is prepared in accordance
with the Commission&#8217;s rules and guidelines applicable thereto. Except as disclosed in the Registration Statement, the Time of Sale
Information and the Prospectus, there are no material weaknesses in the Company&#8217;s internal controls.</FONT></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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(cc)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Insurance.
</I>The Company and its subsidiaries have insurance covering their respective properties, operations, personnel and businesses, including
business interruption insurance, which insurance is in amounts and insures against such losses and risks as are prudent and customary
in the businesses in which the Company and its subsidiaries are engaged, except for losses and risks for which the Company and its subsidiaries
are self-insured; and neither the Company nor any of its subsidiaries has (i) received notice from any insurer or agent of such insurer
that material capital improvements or other expenditures are required or necessary to be made in order to continue such insurance or
(ii) any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to
obtain similar coverage at reasonable cost from similar insurers as may be necessary to continue its business.</FONT></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>

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(dd)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>No
Unlawful Payments.</I> Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company, any director, officer, agent,
employee or other person associated with or acting on behalf of the Company or any of its subsidiaries has (i) used any corporate funds
for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made or taken an act
in furtherance of an offer, promise or authorization of any direct or indirect unlawful payment or benefit to any foreign or domestic
government official or employee, including of any government- owned or controlled entity or of a public international organization, or
any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate
for political office; (iii) violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977, as amended, or
any applicable law or regulation implementing the OECD Convention on Combating Bribery of Foreign Public Officials in International Business
Transactions, or committed an offence under the Bribery Act 2010 of the United Kingdom, or any other applicable anti-bribery or anti-
corruption law; or (iv) made, offered, agreed, requested or taken an act in furtherance of any unlawful bribe or other unlawful benefit,
including, without limitation, any rebate, payoff, influence payment, kickback or other unlawful or improper payment or benefit. The
Company and its subsidiaries have instituted, maintain and enforce, and will continue to maintain and enforce, policies and procedures
designed to promote and ensure compliance with all applicable anti-bribery and anti-corruption laws.</FONT></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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(ee)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Compliance
with Anti-Money Laundering Laws</I>. The operations of the Company and its subsidiaries are and have been conducted at all times in compliance
with applicable financial recordkeeping and reporting requirements, including those of the Currency and Foreign Transactions Reporting
Act of 1970, as amended, the money laundering statutes of all jurisdictions, the rules and regulations thereunder and any related or
similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the &#8220;Anti-Money
Laundering Laws&#8221;) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator
involving the Company or any of its subsidiaries with respect to the Anti- Money Laundering Laws is pending or, to the knowledge of the
Company, threatened.</FONT></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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(ff)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Compliance
with Sanctions Laws.</I> Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company, any director, officer,
employee, agent, or affiliate acting on behalf of the Company or any of its subsidiaries, is an individual or entity that is, or is controlled
by one or more individuals or entities that are, currently the subject or the target of any sanctions administered or enforced by the
U.S. government, (including, without limitation, the Office of Foreign Assets Control of the U.S. Department of the Treasury (&#8220;<B>OFAC</B>&#8221;)
or the U.S. Department of State and including, without limitation, the designation as a &#8220;specially designated national&#8221; or
 &#8220;blocked person&#8221;), the United Nations Security Council (&#8220;<B>UNSC</B>&#8221;), the European Union, His Majesty&#8217;s
Treasury (&#8220;<B>HMT</B>&#8221;) or other relevant sanctions authority (collectively, &#8220;<B>Sanctions</B>&#8221;), nor is the
Company or any of its subsidiaries nor, to the knowledge of the Company, any director, officer, employee, agent, or affiliate acting
on behalf of the Company or any of its subsidiaries, an individual or entity, or is controlled by one or more individuals or entities,
located, organized or resident in a country or territory that is the subject or target of Sanctions, including, without limitation, the
so-called Donetsk People&#8217;s Republic, the so-called Luhansk People&#8217;s Republic, the Zaporizhzhia, Kherson and Crimea Region
of Ukraine, any other Covered Region of Ukraine identified pursuant to Executive Order 14065, Cuba, Iran, North Korea and Syria (each,
a &#8220;<B>Sanctioned Country</B>&#8221;); and the Company will not directly or indirectly use the proceeds of the sale of the Securities
hereunder, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or
entity (i) to fund or facilitate any activities of or business with any person that, at the time of such funding or facilitation, is
the subject or target of Sanctions, (ii) to fund or facilitate any activities of or business in any Sanctioned Country or (iii) in any
other manner that will result in a violation by any person (including any person participating in the offering, whether as underwriter,
advisor, investor or otherwise) of Sanctions. For the past five years, the Company and its subsidiaries have not knowingly engaged in,
are not now knowingly engaged in and will not engage in any dealings or transactions with any person that at the time of the dealing
or transaction is or was the subject or the target of Sanctions or with any Sanctioned Country.</FONT></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>

<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(gg)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>No
Stabilization.</I> The Company has not taken, directly or indirectly, any action designed to or that would reasonably be expected to
cause or result in any stabilization or manipulation of the price of the Securities.</FONT></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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(hh)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Margin
Rules</I>. Neither the issuance, sale and delivery of the Securities nor the application of the proceeds thereof by the Company as described
in the Registration Statement, the Time of Sale Information and the Prospectus will violate Regulation T, U or X of the Board of Governors
of the Federal Reserve System or any other regulation of such Board of Governors.</FONT></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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Sarbanes-Oxley
Act. There is and has been no failure on the part of the Company, or, to the knowledge of the Company, any of the Company&#8217;s directors
or officers, in their capacities as such, to comply with any provision of the Sarbanes-Oxley Act of 2002, as amended, and the rules and
regulations promulgated in connection therewith (the &#8220;<B>Sarbanes-Oxley Act</B>&#8221;), including Section 402 related to loans
and Sections 302 and 906 related to certifications.</I></FONT></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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(jj)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Status
under the Securities Act</I>. The Company is a &#8220;well-known seasoned issuer&#8221; (as defined in Rule 405 under the Securities
Act), and has not been, and continues not to be, an &#8220;ineligible issuer&#8221; (as such term is defined in Rule 405 under the Securities
Act).</FONT></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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(kk)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Forward-Looking
Statements</I>. No forward-looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange
Act) included or incorporated by reference in the Registration Statement, the Time of Sale Information or the Prospectus has been made
or reaffirmed without a reasonable basis or has been disclosed other than in good faith.</FONT></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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(ll)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Statistical
and Market Data</I>. Nothing has come to the attention of the Company that has caused the Company to believe that the statistical and
market-related data included or incorporated by reference in the Registration Statement, the Time of Sale Information and the Prospectus
is not based on or derived from sources that are reliable and accurate in all material respects.</FONT></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>

<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(mm)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>No
Broker&#8217;s Fees. </I>Neither the Company nor any of its subsidiaries is a party to any contract, agreement or understanding with
any person (other than this Agreement) that would give rise to a valid claim against any of them or any Underwriter for a brokerage commission,
finder&#8217;s fee or like payment in connection with the offering and sale of the Securities.</FONT></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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(nn)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Cybersecurity;
Data Protection</I>. The Company and its subsidiaries&#8217; information technology assets and equipment, computers, systems, networks,
hardware, software, websites, applications, and databases (collectively, &#8220;<B>IT Systems</B>&#8221;) are adequate for, and operate
and perform in all material respects as required in connection with the operation of the business of the Company and its subsidiaries
as currently conducted, free and clear of all material bugs, errors, defects, Trojan horses, time bombs, malware and other corruptants.
The Company and its subsidiaries have implemented and maintained commercially reasonable controls, policies, procedures, and safeguards
to maintain and protect their material confidential information and the integrity, continuous operation, redundancy and security of all
IT Systems and data (including all personal, personally identifiable, sensitive, confidential or regulated data (&#8220;<B>Personal Data</B>&#8221;))
used in connection with their businesses, and there have been no breaches, violations, outages or unauthorized uses of or accesses to
same, nor any incidents under internal review or investigations relating to the same, except for those that have been remedied without
material cost or liability or the duty to notify any other person or that are otherwise not material to the Company and its subsidiaries
taken as a whole. The Company and its subsidiaries are presently in material compliance with all applicable laws or statutes and all
judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority, internal policies and contractual
obligations relating to the privacy and security of IT Systems and Personal Data and to the protection of such IT Systems and Personal
Data from unauthorized use, access, misappropriation or modification.</FONT></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-top: 0pt; margin-bottom: 0pt; text-indent: 38.55pt">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Further Agreements of the Company. The Company covenants and agrees with each Underwriter that:</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Required Filings.</I> The Company will file the final Prospectus in a form approved by the Underwriters with the Commission
within the time periods specified by Rule 424(b) and Rule 430B under the Securities Act, will file any Issuer Free Writing Prospectus
(including the Term Sheet in the form of Annex B hereto) to the extent required by Rule 433 under the Securities Act; and will file promptly
all reports and any definitive proxy or information statements required to be filed by the Company with the Commission pursuant to Section
13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date of the Prospectus and for so long as the delivery of a prospectus
is required in connection with the offering or sale of the Securities; and the Company will furnish copies of the Prospectus and each
Issuer Free Writing Prospectus (to the extent not previously delivered) to the Underwriters in New York City prior to 10:00 A.M., New
York City time, on the business day next succeeding the date of this Agreement in such quantities as the Representatives may reasonably
request. The Company will pay the registration fees for this offering within the time period required by Rule 456(b)(1)(i) under the
Securities Act (without giving effect to the proviso therein) and in any event prior to the Closing Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <I>Delivery of Copies.</I> The Company will deliver, without charge, (i) to the Representatives, two signed copies of the Registration
Statement as originally filed and each amendment thereto, in each case including all exhibits and consents filed therewith; and (ii)
to each Underwriter (A) a conformed copy of the Registration Statement as originally filed and each amendment thereto, in each case including
all exhibits and consents filed therewith and (B) during the Prospectus Delivery Period (as defined below), as many copies of the Prospectus
(including all amendments and supplements thereto) and each Issuer Free Writing Prospectus as the Representatives may reasonably request.
As used herein, the term &#8220;Prospectus Delivery Period&#8221; means such period of time after the first date of the public offering
of the Securities as in the opinion of counsel for the Underwriters a prospectus relating to the Securities is required by law to be
delivered (or required to be delivered but for Rule 172 under the Securities Act) in connection with sales of the Securities by any Underwriter
or dealer.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Amendments or Supplements; Free Writing Prospectuses.</I> Before making, preparing, using, authorizing, approving, referring
to or filing any Issuer Free Writing Prospectus and before filing any amendment or supplement to the Registration Statement or the Prospectus
during the period beginning on the date of this Agreement and ending on the Closing Date, the Company will furnish to the Representatives
and counsel to the Underwriters a copy of the proposed Issuer Free Writing Prospectus, amendment or supplement for review and will not
make, prepare, use, authorize, approve, refer to or file any such Issuer Free Writing Prospectus or file any such proposed amendment
or supplement to which the Representatives or counsel to the Underwriters reasonably object.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Notice to the Representatives.</I> The Company will advise the Representatives promptly, and confirm such advice in writing,
(i) when any amendment to the Registration Statement has been filed or becomes effective; (ii) when any supplement to the Prospectus
or any Issuer Free Writing Prospectus or any amendment to the Prospectus or any Issuer Free Writing Prospectus has been filed; (iii)
of any request by the Commission for any amendment to the Registration Statement or any amendment or supplement to the Prospectus or
the receipt of any comments from the Commission relating to the Registration Statement or any other request by the Commission for any
additional information; (iv) of the issuance by the Commission of any order suspending the effectiveness of the Registration Statement
or preventing or suspending the use of any Preliminary Prospectus or the Prospectus or the initiation or threatening of any proceeding
for that purpose or pursuant to Section 8A of the Securities Act; (v) of the occurrence of any event within the Prospectus Delivery Period
as a result of which the Prospectus, the Time of Sale Information or any Issuer Free Writing Prospectus as then amended or supplemented
would include any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in
order to make the statements therein, in the light of the circumstances existing when the Prospectus, the Time of Sale Information or
any such Issuer Free Writing Prospectus is delivered to a purchaser, not misleading; (vi) of the receipt by the Company of any notice
of objection of the Commission to the use of the Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2)
under the Securities Act; and (vii) of the receipt by the Company of any notice with respect to any suspension of the qualification of
the Securities for offer and sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and the Company
will use its reasonable best efforts to prevent the issuance of any such order suspending the effectiveness of the Registration Statement,
preventing or suspending the use of any Preliminary Prospectus, Issuer Free Writing Prospectus or the Prospectus, or suspending any such
qualification of the Securities and, if any such order is issued, will obtain as soon as possible the withdrawal thereof.</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>

<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Time of Sale Information.</I> If at any time prior to the Closing Date (i) any event shall occur or condition shall exist as
a result of which the Time of Sale Information as then amended or supplemented would include any untrue statement of a material fact
or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances, not misleading
or (ii) it is necessary to amend or supplement the Time of Sale Information to comply with law, the Company will immediately notify the
Underwriters thereof and forthwith prepare and, subject to paragraph (c) above, file with the Commission (to the extent required) and
furnish to the Underwriters and to such dealers as the Representatives may designate, such amendments or supplements to the Time of Sale
Information as may be necessary so that the statements in the Time of Sale Information as so amended or supplemented will not, in the
light of the circumstances, be misleading or so that the Time of Sale Information will comply with law.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Ongoing Compliance</I>. If during the Prospectus Delivery Period (i) any event shall occur or condition shall exist as a result
of which the Prospectus as then amended or supplemented would include any untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances existing when
the Prospectus is delivered to a purchaser, not misleading or (ii) it is necessary to amend or supplement the Prospectus to comply with
law, the Company will immediately notify the Underwriters thereof and forthwith prepare and, subject to paragraph (c) above, file with
the Commission and furnish to the Underwriters and to such dealers as the Representatives may designate, such amendments or supplements
to the Prospectus as may be necessary so that the statements in the Prospectus as so amended or supplemented will not, in the light of
the circumstances existing when the Prospectus is delivered to a purchaser, be misleading or so that the Prospectus will comply with
law.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Blue Sky Compliance.</I> The Company will qualify the Securities for offer and sale under the securities or Blue Sky laws of
such jurisdictions as the Representatives shall reasonably request and will continue such qualifications in effect so long as required
for distribution of the Securities; <U>provided</U> that the Company shall not be required to (i) qualify as a foreign corporation or
other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so qualify, (ii) file
any general consent to service of process in any such jurisdiction or (iii) subject itself to taxation in any such jurisdiction if it
is not otherwise so subject.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Earning Statement.</I> The Company will make generally available to its security holders and the Representatives as soon as
practicable an earning statement that satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 of the Commission
promulgated thereunder covering a period of at least twelve months beginning with the first fiscal quarter of the Company occurring after
the &#8220;effective date&#8221; (as defined in Rule 158) of the Registration Statement.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Clear Market.</I> During the period from the date hereof through and including the business day following the Closing Date,
the Company will not, without the prior written consent of the Representatives, offer, sell, contract to sell or otherwise dispose of
any debt securities issued or guaranteed by the Company and having a tenor of more than one year.</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>

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Use of Proceeds.</I> The Company will apply the net proceeds from the sale of the Securities as described in the Registration
Statement, the Time of Sale Information and the Prospectus under the heading &#8220;Use of Proceeds&#8221;.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>No Stabilization.</I> The Company will not take, directly or indirectly, any action designed to or that would reasonably be
expected to cause or result in any stabilization or manipulation of the price of the Securities.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Record Retention</I>. The Company will, pursuant to reasonable procedures developed in good faith, retain copies of each Issuer
Free Writing Prospectus that is not filed with the Commission in accordance with Rule 433 under the Securities Act.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(m)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>DTC</I>. The Company will assist the Underwriters in arranging for the Securities to be eligible for clearance and settlement
through DTC.</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-top: 0pt; margin-bottom: 0pt; text-indent: 38.55pt">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Certain Agreements of the Underwriters. Each Underwriter hereby represents and agrees that:</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>It has not and will not use, authorize use of, refer to, or participate in the planning for use of, any &#8220;free writing prospectus&#8221;,
as defined in Rule 405 under the Securities Act (which term includes use of any written information furnished to the Commission by the
Company and not incorporated by reference into the Registration Statement and any press release issued by the Company) other than (i)
a free writing prospectus that would not trigger an obligation to file such free writing prospectus with the Commission pursuant to Rule
433, (ii) any Issuer Free Writing Prospectus listed on Annex A hereto or prepared pursuant to Section 3(c) or Section 4(c) above (including
any electronic road show), or (iii) any free writing prospectus prepared by such underwriter and approved by the Company in advance in
writing (each such free writing prospectus referred to in clauses (i) or (iii), an &#8220;<B>Underwriter Free Writing Prospectus</B>&#8221;).
Notwithstanding the foregoing, the Underwriters may use a term sheet substantially in the form of Annex B hereto without the consent
of the Company.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each Underwriter and each of its affiliates have complied, and will comply, with the selling restrictions applicable to offers
and sales of the Securities in jurisdictions outside the United States as set forth in the Time of Sale Information and the Prospectus.
Each Underwriter acknowledges that no action has been or will be taken by the Company that would permit a public offering of the Securities,
or possession or distribution of any of the Time of Sale Information, the Prospectus, any Issuer Free Writing Prospectus or any other
offering or publicity material relating to the Securities, in any country other than, or any jurisdiction outside, the United States
where action for that purpose is required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 38.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 38.55pt"></P>

<!-- Field: Page; Sequence: 15; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 38.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 38.55pt">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Conditions of Underwriters&#8217; Obligations. The obligation of each Underwriter to purchase Securities on the Closing Date as
provided herein is subject to the performance by the Company of its covenants and other obligations hereunder and to the following additional
conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 38.55pt">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <I>Registration Compliance; No Stop Order.</I> No order suspending the effectiveness of the Registration Statement shall be in
effect, and no proceeding for such purpose, pursuant to Rule 401(g)(2) or pursuant to Section 8A under the Securities Act shall be pending
before or threatened by the Commission; the Prospectus and each Issuer Free Writing Prospectus shall have been timely filed with the
Commission under the Securities Act (in the case of an Issuer Free Writing Prospectus, to the extent required by Rule 433 under the Securities
Act) and in accordance with Section 4(a) hereof; and all requests by the Commission for additional information shall have been complied
with to the reasonable satisfaction of the Representatives.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Representations and Warranties.</I> The representations and warranties of the Company contained herein shall be true and correct
on the date hereof and on and as of the Closing Date; and the statements of the Company and its officers made in any certificates delivered
pursuant to this Agreement shall be true and correct on and as of the Closing Date.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>No Downgrade.</I> Subsequent to the earlier of (A) the Time of Sale and (B) the execution and delivery of this Agreement, (i)
no downgrading shall have occurred in the rating accorded the Securities or any other debt securities or preferred stock of or guaranteed
by the Company or any of its subsidiaries by any &#8220;nationally recognized statistical rating organization&#8221; as such term is
defined under Section 3(a)(62) of the Exchange Act and (ii) no such organization shall have publicly announced that it has under surveillance
or review, or has changed its outlook with respect to, its rating of the Securities or of any other debt securities or preferred stock
of or guaranteed by the Company or any of its subsidiaries (other than an announcement with positive implications of a possible upgrading).</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>No Material Adverse Change.</I> No event or condition of a type described in Section 3(g) hereof shall have occurred or shall
exist, which event or condition is not described in the Time of Sale Information (excluding any amendment or supplement thereto) and
the Prospectus (excluding any amendment or supplement thereto) and the effect of which in the judgment of the Representatives makes it
impracticable or inadvisable to proceed with the offering, sale or delivery of the Securities on the terms and in the manner contemplated
by this Agreement, the Time of Sale Information and the Prospectus.</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-top: 0pt; margin-bottom: 0pt; margin-left: 0.5in; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><I>Officers&#8217; Certificate.</I> The Representatives shall have received on and as of the Closing Date a certificate executed
by the Chairman of the Board or the Chief Executive Officer or a Senior Vice President of the Company and the Chief Financial Officer
or Chief Accounting Officer of the Company (i) confirming that such officer has carefully reviewed the Registration Statement, the Time
of Sale Information and the Prospectus and, to the knowledge of such officer, the representations set forth in Sections 3(b) and 3(d)
hereof are true and correct, (ii) confirming that the other representations and warranties of the Company in this Agreement are true
and correct and that the Company has complied with all agreements and satisfied all conditions on its part to be performed or satisfied
hereunder at or prior to the Closing Date and (iii) to the effect set forth in paragraphs (a), (c) and (d) above.</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>

<!-- Field: Page; Sequence: 16; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<!-- Field: Split-Segment; Name: 1 -->
<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 0pt 0.5in; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Comfort Letters &amp; CFO Certificate.</I> (i) On the date of this Agreement and on the Closing Date, Ernst &amp; Young LLP
shall have furnished to the Representatives, at the request of the Company, letters, dated the respective dates of delivery thereof and
addressed to the Underwriters, in form and substance reasonably satisfactory to the Representatives, containing statements and information
of the type customarily included in accountants&#8217; &#8220;comfort letters&#8221; to underwriters with respect to the financial statements
and certain financial information contained or incorporated by reference in the Registration Statement, the Time of Sale Information
and the Prospectus; <U>provided</U> that the letter delivered on the Closing Date shall use a &#8220;cut-off&#8221; date no more than
three business days prior to the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(ii) On the date of this Agreement,
the Company shall have furnished to the Representatives a certificate, addressed to the Underwriters, of its chief financial officer with
respect to certain financial data contained in the Registration Statement, the Time of Sale Information and the Prospectus, providing
 &#8220;management comfort&#8221; with respect to such information, in form and substance reasonably satisfactory to the Representatives.</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 0pt 0.5in; text-indent: 41.15pt">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT><I>Opinion and 10b-5 Statement of Faegre Drinker Biddle &amp; Reath LLP. </I>Faegre Drinker Biddle &amp; Reath LLP, counsel for
the Company, shall have furnished to the Representatives, at the request of the Company, their written opinion and 10b-5 Statement, dated
the Closing Date and addressed to the Underwriters, substantially in the form agreed on or prior to the date hereof.</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 0pt 0.5in; text-indent: 0.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT><I>Opinion and 10b-5 Statement of Company Counsel.</I> Brian D. Johnson, Vice President and Corporate Secretary of the Company,
or another of the Company&#8217;s counsel satisfactory to the Representatives, shall have furnished to the Representatives, at the request
of the Company, their written opinion and 10b-5 Statement, dated the Closing Date and addressed to the Underwriters, substantially in
the form agreed on or prior to the date hereof.</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 0pt 0.5in; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT><I>Opinion and 10b-5 Statement of Counsel for the Underwriters.</I> The Representatives shall have received on and as of the Closing
Date an opinion and 10b-5 Statement of Davis Polk &amp; Wardwell LLP, counsel for the Underwriters, with respect to such matters as the
Representatives may reasonably request, and such counsel shall have received such documents and information as they may reasonably request
to enable them to pass upon such matters.</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 0pt 0.5in; text-indent: 0.5in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT><I>No Legal Impediment to Issuance.</I> No action shall have been taken and no statute, rule, regulation or order shall have been
enacted, adopted or issued by any federal, state or foreign governmental or regulatory authority that would, as of the Closing Date, prevent
the issuance or sale of the Securities; and no injunction or order of any federal, state or foreign court shall have been issued that
would, as of the Closing Date, prevent the issuance or sale of the Securities.</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 0pt 0.5in; text-indent: 0.5in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT><I>Good Standing</I>. The Representatives shall have received on and as of the Closing Date satisfactory evidence of the good standing
of the Company in its jurisdiction of formation, in each case in writing or any standard form of telecommunication from the appropriate
governmental authorities of such jurisdictions.</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 0pt 0.5in; text-indent: 0.5in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT><I>Additional Documents.</I> On or prior to the Closing Date, the Company shall have furnished to the Representatives such further
certificates and documents as the Representatives may reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.95pt; text-indent: 43.6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.95pt; text-indent: 43.6pt"></P>

<!-- Field: Page; Sequence: 17; Options: NewSection; Value: 17 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.95pt; text-indent: 43.6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(m)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT> <I>DTC</I>. The Securities shall be eligible for clearance and settlement through DTC.</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 0pt 0in; text-indent: 0.5in">All opinions, letters, certificates
and evidence mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the provisions hereof only if they
are in form and substance reasonably satisfactory to counsel for the Underwriters.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">7.</TD><TD>Indemnification and Contribution.</TD></TR></TABLE>

<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 0pt 0.5in; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT><I>Indemnification of the Underwriters.</I> The Company agrees to indemnify and hold harmless each Underwriter, its affiliates,
directors and officers and each person, if any, who controls such Underwriter within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, reasonable
legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses
are incurred), joint or several, that arise out of, or are based upon, (i) any untrue statement or alleged untrue statement of a material
fact contained in the Registration Statement or caused by any omission or alleged omission to state therein a material fact required to
be stated therein or necessary in order to make the statements therein, not misleading, or (ii) any untrue statement or alleged untrue
statement of a material fact contained in the Preliminary Prospectus (or any amendment or supplement thereto), the Prospectus (or any
amendment or supplement thereto), any Issuer Free Writing Prospectus or any Time of Sale Information, or caused by any omission or alleged
omission to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which
they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are based
upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information
relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use therein.</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 0pt 0.5in; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT><I>Indemnification of the Company.</I> Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company,
its directors, its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in paragraph (a) above,
but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission
or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to such Underwriter furnished
to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement, the Prospectus
(or any amendment or supplement thereto), any Issuer Free Writing Prospectus or any Time of Sale Information, it being understood and
agreed that the only such information consists of the names of, and principal amount of Securities to be purchased by, each of the Underwriters
and the following information under the caption &#8220;Underwriting&#8221; in the Preliminary Prospectus and the Prospectus: the fourth
paragraph (relating to commissions and discounts), the second sentence of the sixth paragraph (relating to the Underwriters&#8217; intention
to make a market in the notes), the seventh, eighth and ninth paragraphs (relating to short positions and stabilizing transactions), and
the eleventh paragraph (relating to the Underwriters&#8217; business activities).</P>

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


<!-- Field: Page; Sequence: 18; Value: 17 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT> <I>Notice and Procedures.</I> If any suit, action, proceeding (including any governmental or regulatory investigation), claim
or demand shall be brought or asserted against any person in respect of which indemnification may be sought pursuant to either paragraph
(a) or (b) above, such person (the &#8220;<B>Indemnified Person</B>&#8221;) shall promptly notify the person against whom such indemnification
may be sought (the &#8220;<B>Indemnifying Person</B>&#8221;) in writing; <I>provided </I>that the failure to notify the Indemnifying
Person shall not relieve it from any liability that it may have under this Section 7 except to the extent that it has been materially
prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and <I>provided</I>, <I>further</I>, that the
failure to notify the Indemnifying Person shall not relieve it from any liability that it may have to an Indemnified Person otherwise
than under this Section 7. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified
the Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person (who
shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the Indemnified Person
and any others entitled to indemnification pursuant to this Section 7 that the Indemnifying Person may designate in such proceeding and
shall pay the fees and expenses of such proceeding and shall pay the reasonable fees and expenses of counsel related to such proceeding,
as incurred. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the reasonable fees and
expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person
shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably
satisfactory to the Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses
available to it that are different from or in addition to those available to the Indemnifying Person; or (iv) the named parties in any
such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation
of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood
and agreed that the Indemnifying Person shall not, in connection with any proceeding or related proceeding in the same jurisdiction,
be liable for the reasonable fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified
Persons, and that all such fees and expenses shall be reimbursed as they are incurred. Any such separate firm for any Underwriter, its
affiliates, directors and officers and any control persons of such Underwriter shall be designated in writing by the Representatives
and any such separate firm for the Company, its directors, its officers who signed the Registration Statement and any control persons
of the Company shall be designated in writing by the Company. The Indemnifying Person shall not be liable for any settlement of any proceeding
effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying
Person agrees to indemnify each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. No
Indemnifying Person shall, without the written consent of the Indemnified Person (which consent shall not be unreasonably withheld or
delayed), effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been
a party and indemnification could have been sought hereunder by such Indemnified Person, unless such settlement (x) includes an unconditional
release of such Indemnified Person from all liability on claims that are the subject matter of such proceeding and (y) does not include
any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person.</P>

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


<!-- Field: Page; Sequence: 19; Value: 17 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT> <I>Contribution.</I> If the indemnification provided for in paragraph (a) or (b) above is unavailable to an Indemnified Person
or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such
paragraph, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified
Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits
received by the Company on the one hand and the Underwriters on the other from the offering of the Securities or (ii) if the allocation
provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits
referred to in clause (i) but also the relative fault of the Company on the one hand and the Underwriters on the other in connection with
the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations.
The relative benefits received by the Company on the one hand and the Underwriters on the other shall be deemed to be in the same respective
proportions as the net proceeds (before deducting expenses) received by the Company from the sale of the Securities and the total underwriting
discounts and commissions received by the Underwriters in connection therewith, in each case as set forth in the table on the cover of
the Prospectus, bear to the aggregate offering price of the Securities. The relative fault of the Company on the one hand and the Underwriters
on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact
or the omission or alleged omission to state a material fact relates to information supplied by the Company or by the Underwriters and
the parties&#8217; relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.</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 0pt 0.5in; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT><I>Limitation on Liability.</I> The Company and the Underwriters agree that it would not be just and equitable if contribution
pursuant to this Section 7 were determined by <U>pro rata</U> allocation (even if the Underwriters were treated as one entity for such
purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in paragraph (d)
above. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph
(d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred by such Indemnified
Person in connection with any such action or claim. Notwithstanding the provisions of this Section 7, in no event shall an Underwriter
be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such
Underwriter with respect to the offering of the Securities exceeds the amount of any damages that such Underwriter has otherwise been
required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. The Underwriters&#8217; obligations to contribute pursuant to this Section 7 are several in proportion to
their respective purchase obligations hereunder and not joint.</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 0pt 0.5in; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Non-Exclusive Remedies.</I> The remedies provided for in this Section 7 are not exclusive and shall not limit any rights or
remedies which may otherwise be available to any Indemnified Person at law or in equity.</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 0pt 0in; text-indent: 0.5in">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Effectiveness of Agreement. This Agreement shall become effective upon the execution and delivery hereof by the parties hereto.</P>

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


<!-- Field: Page; Sequence: 20; Value: 17 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 78pt; text-indent: 38.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-indent: 0.5in">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Termination.
This Agreement may be terminated in the absolute discretion of the Representatives, by notice to the Company, if after the execution
and delivery of this Agreement and on or prior to the Closing Date (i) trading generally shall have been suspended or materially limited
on the New York Stock Exchange or the over-the-counter market; (ii) trading of any securities issued or guaranteed by the Company shall
have been suspended on any exchange or in any over-the-counter market; (iii) a general moratorium on commercial banking activities shall
have been declared by federal or New York State authorities; or (iv) there shall have occurred any outbreak or escalation of hostilities
or any change in financial markets or any calamity or crisis, either within or outside the United States, in each case that, in the judgment
of the Representatives, is material and adverse and makes it impracticable or inadvisable to proceed with the offering, sale or delivery
of the Securities on the terms and in the manner contemplated by this Agreement, the Time of Sale Information and the Prospectus.</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 0pt 0in; text-indent: 0.5in">10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Defaulting Underwriter. (a) If, on the Closing Date, any Underwriter defaults on its obligation to purchase the Securities that
it has agreed to purchase hereunder, the non- defaulting Underwriters may in their discretion arrange for the purchase of such Securities
by other persons satisfactory to the Company on the terms contained in this Agreement. If, within 36 hours after any such default by any
Underwriter, the non-defaulting Underwriters do not arrange for the purchase of such Securities, then the Company shall be entitled to
a further period of 36 hours within which to procure other persons satisfactory to the non-defaulting Underwriters to purchase such Securities
on such terms. If other persons become obligated or agree to purchase the Securities of a defaulting Underwriter, either the non-defaulting
Underwriters or the Company may postpone the Closing Date for up to five full business days in order to effect any changes that in the
opinion of counsel for the Company or counsel for the Underwriters may be necessary in the Registration Statement, the Time of Sale Information
and the Prospectus or in any other document or arrangement, and the Company agrees to promptly prepare any amendment or supplement to
the Registration Statement, the Time of Sale Information and the Prospectus that effects any such changes. As used in this Agreement,
the term &#8220;Underwriter&#8221; includes, for all purposes of this Agreement unless the context otherwise requires, any person not
listed in Schedule 1 hereto that, pursuant to this Section 10, purchases Securities that a defaulting Underwriter agreed but failed to
purchase.</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 0pt 0.5in; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Underwriter or Underwriters by the
non-defaulting Underwriters and the Company as provided in paragraph (a) above, the aggregate principal amount of such Securities that
remains unpurchased does not exceed one- eleventh of the aggregate principal amount of all the Securities, then the Company shall have
the right to require each non-defaulting Underwriter to purchase the principal amount of Securities that such Underwriter agreed to purchase
hereunder plus such Underwriter&#8217;s <I>pro rata </I>share (based on the principal amount of Securities that such Underwriter agreed
to purchase hereunder) of the Securities of such defaulting Underwriter or Underwriters for which such arrangements have not been made.</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 0pt 0.5in; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Underwriter or Underwriters by the
non-defaulting Underwriters and the Company as provided in paragraph (a) above, the aggregate principal amount of such Securities that
remains unpurchased exceeds one-eleventh of the aggregate principal amount of all the Securities, or if the Company shall not exercise
the right described in paragraph (b) above, then this Agreement shall terminate without liability on the part of the non-defaulting Underwriters.
Any termination of this Agreement pursuant to this Section 10 shall be without liability on the part of the Company, except that the Company will continue to
be liable for the payment of expenses as set forth in Section 11 hereof and except that the provisions of Section 7 hereof shall not terminate
and shall remain in effect.</P>

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


<!-- Field: Page; Sequence: 21; Value: 17 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>Nothing contained herein shall relieve a defaulting Underwriter of any liability it may have to the Company or any non-defaulting
Underwriter for damages caused by its default.</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 0pt 0in; text-indent: 33.05pt">11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>Payment of Expenses<I>.</I> (a) Whether or not the transactions contemplated by this Agreement are consummated or this Agreement
is terminated, the Company agrees to pay or cause to be paid all costs and expenses incident to the performance of its obligations hereunder,
including without limitation, (i) the costs incident to the authorization, issuance, sale, preparation and delivery of the Securities
and any taxes payable in that connection; (ii) the costs incident to the preparation, printing and filing under the Securities Act of
the Registration Statement, the Preliminary Prospectus, any Issuer Free Writing Prospectus, any Time of Sale Information and the Prospectus
(including all exhibits, amendments and supplements thereto) and the distribution thereof; (iii) the costs of reproducing and distributing
each of the Transaction Documents; (iv) the fees and expenses of the Company&#8217;s counsel and independent accountants; (v) the fees
and expenses incurred in connection with the registration or qualification and determination of eligibility for investment of the Securities
under the laws of such jurisdictions as the Representatives may designate and the preparation, printing and distribution of a Blue Sky
Memorandum (including the related fees and expenses of counsel for the Underwriters); (vi) any fees charged by rating agencies for rating
the Securities; (vii) the fees and expenses of the Trustee and any paying agent (including related fees and expenses of any counsel to
such parties); (viii) all expenses and application fees incurred in connection with any filing with, and clearance of the offering by,
the Financial Industry Regulatory Authority, Inc. and the approval of the Securities for book-entry transfer by DTC; and (ix) all expenses
incurred by the Company in connection with any &#8220;road show&#8221; presentation to potential investors.</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 0pt 0.5in; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>If (i) this Agreement is terminated pursuant to Section 9, (ii) the Company for any reason fails to tender the Securities for
delivery to the Underwriters or (iii) the Underwriters decline to purchase the Securities for any reason permitted under this Agreement,
the Company agrees to reimburse the Underwriters for all out-of-pocket costs and expenses (including the fees and expenses of their counsel)
reasonably incurred by the Underwriters in connection with this Agreement and the offering contemplated hereby.</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 0pt 0in; text-indent: 33.05pt">12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Persons Entitled to Benefit of Agreement. This Agreement shall inure to the benefit of and be binding upon the parties hereto and
their respective successors and the officers and directors and any controlling persons referred to herein, and the affiliates of each
Underwriter referred to in Section 7 hereof. Nothing in this Agreement is intended or shall be construed to give any other person any
legal or equitable right, remedy or claim under or in respect of this Agreement or any provision contained herein. No purchaser of Securities
from any Underwriter shall be deemed to be a successor merely by reason of such purchase.</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 0pt 0in; text-indent: 33.05pt">13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>Survival. The respective indemnities, rights of contribution, representations, warranties and agreements of the Company and the
Underwriters contained in this Agreement or made by or on behalf of the Company or the Underwriters pursuant to this Agreement or any
certificate delivered pursuant hereto shall survive the delivery of and payment for the Securities and shall remain in full force and
effect, regardless of any termination of this Agreement or any investigation made by or on behalf of the Company or the Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-indent: 33.05pt">&nbsp;</P>


<!-- Field: Page; Sequence: 22; Value: 17 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 78pt; text-indent: 33.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-indent: 33.05pt">14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT> Certain Defined Terms. For purposes of this Agreement, (a) except where otherwise expressly provided, the term &#8220;affiliate&#8221;
has the meaning set forth in Rule 405 under the Securities Act; (b) the term &#8220;business day&#8221; means any day other than a day
on which banks are permitted or required to be closed in New York City; and (c) the term &#8220;subsidiary&#8221; has the meaning set
forth in Rule 405 under the Securities Act.</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 0pt 0in; text-indent: 33.05pt">15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>Compliance with USA Patriot Act. In accordance with the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed
into law October 26, 2001)), the Underwriters are required to obtain, verify and record information that identifies their respective clients,
including the Company, which information may include the name and address of their respective clients, as well as other information that
will allow the Underwriters to properly identify their respective clients.</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 0pt 0in; text-indent: 33.05pt">16.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>Miscellaneous. (a) <I>Authority of the Representatives.</I> Any action by the Underwriters hereunder may be taken by the Representatives
on behalf of the Underwriters, and any such action taken by the Representatives shall be binding upon the Underwriters.</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 0pt 0.5in; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT><FONT STYLE="font-size: 10pt"><I>Notices.</I></FONT> All notices and other communications hereunder shall be in writing and shall
be deemed to have been duly given if mailed or transmitted and confirmed by any standard form of telecommunication. Notices to the Underwriters
shall be given to the Representatives in care of BofA Securities, Inc. at 1540 Broadway, NY8- 540-26-02, New York, New York 10036, Attention:
High Grade Transaction Management/Legal; J.P. Morgan Securities LLC at 383 Madison Avenue, New York, New York 10179, Attention: Investment
Grade Syndicate Desk; U.S. Bancorp Investments, Inc., 214 North Tryon St., 26<SUP>th</SUP> Floor, Charlotte, North Carolina 28202, Attention:
Credit Fixed Income; and Wells Fargo Securities, LLC at 550 South Tryon Street, 5th Floor, Charlotte, North Carolina 28202, Attention:
Transaction Management. Notices to the Company shall be given to it at Hormel Foods Corporation, 1 Hormel Place, Austin, Minnesota 55912
(fax: 507-437-5135); Attention: Brian D. Johnson.</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 0pt 0.5in; text-indent: 0.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT><I>Governing Law.</I> This Agreement and any claim, controversy or dispute arising under or related to this Agreement shall be
governed by and construed in accordance with the laws of the State of New York.</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 0pt 0.5in; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT><I>Counterparts.</I> This Agreement may be signed in counterparts (which may include counterparts delivered by any standard form
of telecommunication), each of which shall be an original and all of which together shall constitute one and the same instrument. The
words &#8220;execution,&#8221; &#8220;signed,&#8221; &#8220;signature,&#8221; and words of like import in this Agreement or in any other
certificate, agreement or document related to this Agreement, if any, shall include images of manually executed signatures transmitted
by facsimile or other electronic format (including, without limitation, &#8220;pdf,&#8221; &#8220;tif&#8221; or &#8220;jpg&#8221;) and
other electronic signatures (including, without limitation, DocuSign and AdobeSign). The use of electronic signatures and electronic records
(including, without limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic
means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping
system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in Global and National Commerce
Act, the Michigan Uniform Electronic Transactions Act, the New York State Electronic Signatures and Records Act and any other applicable
law, including, without limitation, any state law based on the Uniform Electronic Transactions Act or the Uniform Commercial Code.</P>

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


<!-- Field: Page; Sequence: 23; Value: 17 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 113.95pt; text-indent: 41.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT> <I>Amendments or Waivers.</I> No amendment or waiver of any provision of this Agreement, nor any consent or approval to any departure
therefrom, shall in any event be effective unless the same shall be in writing and signed by the parties hereto.</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 0pt 0.5in; text-indent: 0.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Headings.</I> The headings herein are included for convenience of reference only and are not intended to be part of, or to affect
the meaning or interpretation of, this Agreement.</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 0pt 0.5in; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Waiver of Jury Trial</I>. Each of the parties hereto hereby waives any right to trial by jury in any suit or proceeding arising
out of or relating to this Agreement.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 31.9pt">17.</TD><TD>Recognition of the U.S. Special Resolution Regimes.</TD></TR></TABLE>

<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 0pt 0.5in; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>In the event that any Underwriter that is a Covered Entity becomes subject to a proceeding under a U.S. Special Resolution Regime,
the transfer from such Underwriter of this Agreement, and any interest and obligation in or under this Agreement, will be effective to
the same extent as the transfer would be effective under the U.S. Special Resolution Regime if this Agreement, and any such interest and
obligation, were governed by the laws of the United States or a state of the United States.</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 0pt 0.5in; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>In the event that any Underwriter that is a Covered Entity or a BHC Act Affiliate of such Underwriter becomes subject to a proceeding
under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Underwriter are permitted
to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement
were governed by the laws of the United States or a state of the United States.</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 0pt 0.5in">As used in this Section 17:</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 0pt 0.5in">&#8220;<B>BHC Act Affiliate</B>&#8221; has the meaning
assigned to the term &#8220;affiliate&#8221; in, and shall be interpreted in accordance with, 12 U.S.C. &sect; 1841(k).</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 0pt 0.5in">&#8220;<B>Covered Entity</B>&#8221; means any of the following:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="padding-right: 17.3pt">a &#8220;covered entity&#8221; as that term is defined in, and interpreted in accordance with, 12 C.F.R.
 &sect; 252.82(b);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="padding-right: 20.95pt">a &#8220;covered bank&#8221; as that term is defined in, and interpreted in accordance with, 12 C.F.R.
 &sect; 47.3(b); or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD>a &#8220;covered FSI&#8221; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &sect; 382.2(b).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 149.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&#8220;<B>Default Right</B>&#8221; has the meaning assigned
to that term in, and shall be interpreted in accordance with, 12 C.F.R. &sect;&sect; 252.81, 47.2 or 382.1, as applicable.</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 0pt 0.5in">&#8220;<B>U.S. Special Resolution Regime</B>&#8221;
means each of (i) the Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title II of the Dodd-Frank Wall
Street Reform and Consumer Protection Act and the regulations promulgated thereunder.</P>

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


<!-- Field: Page; Sequence: 24; Value: 17 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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 0pt 0in; text-indent: 36.2pt">If the foregoing is in accordance
with your understanding, please indicate your acceptance of this Agreement by signing in the space provided below.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt">Very truly yours,</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt">HORMEL FOODS CORPORATION</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">/s/ Florence Makope</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Name:</TD>
    <TD STYLE="font-size: 10pt">Florence Makope</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 3%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 5%">Title:</TD>
    <TD STYLE="font-size: 10pt; width: 42%">Vice President and Treasurer</TD></TR>
  </TABLE>

<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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><I>[Signature Page to Underwriting Agreement]</I></P>


<!-- Field: Page; Sequence: 25; Options: NewSection; Value: 19 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.8pt"><FONT STYLE="color: #212121">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in"><FONT STYLE="color: #212121">Accepted</FONT> <FONT STYLE="color: #313131">as</FONT>
<FONT STYLE="color: #212121">of the date first</FONT> <FONT STYLE="color: #424242">set</FONT> <FONT STYLE="color: #313131">forth above:</FONT></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 0pt 0in"><FONT STYLE="color: #212121">BOF</FONT><FONT STYLE="color: #313131">A
SECURIT</FONT><FONT STYLE="color: #0E0E0E">I</FONT><FONT STYLE="color: #313131">ES</FONT><FONT STYLE="color: #5D5D5D">,</FONT> <FONT STYLE="color: #0E0E0E">INC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in"><FONT STYLE="color: #0E0E0E">J.P.</FONT> <FONT STYLE="color: #212121">MORGAN</FONT>
<FONT STYLE="color: #313131">SECURITIES LLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-indent: 0.05pt"><FONT STYLE="color: #313131">U.S.</FONT>
<FONT STYLE="color: #212121">BANCORP</FONT> <FONT STYLE="color: #0E0E0E">I</FONT><FONT STYLE="color: #424242">NVES</FONT><FONT STYLE="color: #212121">TME</FONT><FONT STYLE="color: #424242">NTS</FONT><FONT STYLE="color: #5D5D5D">,</FONT>
<FONT STYLE="color: #212121">INC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-indent: 0.05pt"><FONT STYLE="color: #212121"></FONT><FONT STYLE="color: #313131">WELLS </FONT><FONT STYLE="color: #212121">FARGO SECURITIES</FONT><FONT STYLE="color: #5D5D5D">,
</FONT><FONT STYLE="color: #212121">LLC</FONT></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 0pt 0in; text-indent: 0.3pt"><FONT STYLE="color: #313131">For</FONT>
<FONT STYLE="color: #212121">themselves</FONT> <FONT STYLE="color: #313131">and on behalf of </FONT><FONT STYLE="color: #212121">the</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-indent: 0.3pt"><FONT STYLE="color: #212121"></FONT><FONT STYLE="color: #424242">severa</FONT><FONT STYLE="color: #0E0E0E">l
</FONT><FONT STYLE="color: #313131">Underwriters </FONT><FONT STYLE="color: #0E0E0E">li</FONT><FONT STYLE="color: #424242">s</FONT><FONT STYLE="color: #212121">t</FONT><FONT STYLE="color: #424242">e</FONT><FONT STYLE="color: #212121">d</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in"><FONT STYLE="color: #0E0E0E">in</FONT> <FONT STYLE="color: #313131">Schedule</FONT>
<FONT STYLE="color: #212121">I hereto</FONT></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 0pt 0in"><FONT STYLE="color: #212121">By: BOF</FONT><FONT STYLE="color: #313131">A
SECURITIES</FONT><FONT STYLE="color: #5D5D5D">,</FONT> <FONT STYLE="color: #0E0E0E">INC.</FONT></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD><TD COLSPAN="2" STYLE="font-size: 10pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"> /s/ Sandeep Chawla</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 3%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 5%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
               <TD STYLE="font-size: 10pt; width: 42%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sandeep Chawla</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
                              <TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
               <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Managing Director</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
                              </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">&nbsp;</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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: #424242"><I>[Signature</I></FONT><I>
<FONT STYLE="color: #313131">Pa</FONT><FONT STYLE="color: #5D5D5D">ge</FONT> <FONT STYLE="color: #212121">t</FONT><FONT STYLE="color: #5D5D5D">o
U</FONT><FONT STYLE="color: #313131">nd</FONT><FONT STYLE="color: #5D5D5D">e</FONT><FONT STYLE="color: #424242">rw</FONT><FONT STYLE="color: #212121">r</FONT><FONT STYLE="color: #424242">it</FONT><FONT STYLE="color: #212121">in</FONT><FONT STYLE="color: #5D5D5D">g</FONT>
<FONT STYLE="color: #424242">Agreement]</FONT></I></P>


<!-- Field: Page; Sequence: 26; Value: 19 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">Accepted as of the date first set forth above:</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 0pt 0in">BOFA SECURITIES, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">J.P. MORGAN SECURITIES LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">U.S. BANCORP INVESTMENTS, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">WELLS FARGO SECURITIES,
LLC</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 0pt 0in">For themselves and on behalf of the</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">in Schedule 1 hereto</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 0pt 0in">By: J.P. MORGAN SECURITIES LLC</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD><TD COLSPAN="2" STYLE="font-size: 10pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Som Bhattacharyya</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 3%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 5%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
               <TD STYLE="font-size: 10pt; width: 42%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Som Bhattacharyya</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
                              <TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
               <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Executive Director</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
                              </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: #424242"><I>[Signature</I></FONT><I>
<FONT STYLE="color: #313131">Pa</FONT><FONT STYLE="color: #5D5D5D">ge</FONT> <FONT STYLE="color: #212121">t</FONT><FONT STYLE="color: #5D5D5D">o
U</FONT><FONT STYLE="color: #313131">nd</FONT><FONT STYLE="color: #5D5D5D">e</FONT><FONT STYLE="color: #424242">rw</FONT><FONT STYLE="color: #212121">r</FONT><FONT STYLE="color: #424242">it</FONT><FONT STYLE="color: #212121">in</FONT><FONT STYLE="color: #5D5D5D">g</FONT>
<FONT STYLE="color: #424242">Agreement]</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.35pt"></P>


<!-- Field: Page; Sequence: 27; Value: 19 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">Accepted as of the date first set forth above:</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 0pt 0in">BOFA SECURITIES, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">J.P. MORGAN SECURITIES LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">U.S. BANCORP INVESTMENTS, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">WELLS FARGO SECURITIES,
LLC</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 0pt 0in">For themselves and on behalf of the</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">in Schedule 1 hereto</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 0pt 0in">By: U.S. BANCORP INVESTMENTS, INC.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD><TD COLSPAN="2" STYLE="font-size: 10pt; border-bottom: Black 1pt solid">/s/ Julie Brendel</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 3%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 5%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
               <TD STYLE="font-size: 10pt; width: 42%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Julie Brendel</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
                              <TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
               <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Managing
Director</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
                              </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: #424242"><I>[Signature</I></FONT><I>
<FONT STYLE="color: #313131">Pa</FONT><FONT STYLE="color: #5D5D5D">ge</FONT> <FONT STYLE="color: #212121">t</FONT><FONT STYLE="color: #5D5D5D">o
U</FONT><FONT STYLE="color: #313131">nd</FONT><FONT STYLE="color: #5D5D5D">e</FONT><FONT STYLE="color: #424242">rw</FONT><FONT STYLE="color: #212121">r</FONT><FONT STYLE="color: #424242">it</FONT><FONT STYLE="color: #212121">in</FONT><FONT STYLE="color: #5D5D5D">g</FONT>
<FONT STYLE="color: #424242">Agreement]</FONT></I></P>

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


<!-- Field: Page; Sequence: 28; Value: 19 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 32pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">Accepted as of the date first set forth above:</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 0pt 0in">BOFA SECURITIES, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">J.P. MORGAN SECURITIES LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">U.S. BANCORP INVESTMENTS, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">WELLS FARGO SECURITIES,
LLC</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 0pt 0in">For themselves and on behalf of the</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in">in Schedule 1 hereto</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 0pt 0in">By: WELLS FARGO SECURITIES, LLC</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>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD><TD COLSPAN="2" STYLE="font-size: 10pt; border-bottom: Black 1pt solid">/s/ Carolyn Hurley</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 3%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; width: 5%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
               <TD STYLE="font-size: 10pt; width: 42%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Carolyn Hurley</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
                              <TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
               <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Managing
Director</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
                              </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="color: #424242"><I>[Signature</I></FONT><I>
<FONT STYLE="color: #313131">Pa</FONT><FONT STYLE="color: #5D5D5D">ge</FONT> <FONT STYLE="color: #212121">t</FONT><FONT STYLE="color: #5D5D5D">o
U</FONT><FONT STYLE="color: #313131">nd</FONT><FONT STYLE="color: #5D5D5D">e</FONT><FONT STYLE="color: #424242">rw</FONT><FONT STYLE="color: #212121">r</FONT><FONT STYLE="color: #424242">it</FONT><FONT STYLE="color: #212121">in</FONT><FONT STYLE="color: #5D5D5D">g</FONT>
<FONT STYLE="color: #424242">Agreement]</FONT></I></P>


<!-- Field: Page; Sequence: 29; Value: 19 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Schedule 1</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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
<TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">Underwriter</TD>
<TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
<TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Principal Amount<BR>
of the Securities <BR>
to be Purchased</TD>
<TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 81%; font-size: 10pt; text-align: left">BofA Securities, Inc.</TD>
<TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
<TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD>
<TD STYLE="width: 15%; font-size: 10pt; text-align: right">112,500,000</TD>
<TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt; text-align: left">J.P. Morgan Securities LLC</TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: right">112,500,000</TD>
<TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-size: 10pt; text-align: left">U.S. Bancorp Investments, Inc.</TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: right">112,500,000</TD>
<TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt; text-align: left">Wells Fargo Securities, LLC</TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: right">112,500,000</TD>
<TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-size: 10pt; text-align: left">Siebert Williams Shank &amp; Co., LLC</TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: right">20,000,000</TD>
<TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt; text-align: left">Barclays Capital Inc.</TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: right">15,000,000</TD>
<TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">PNC Capital Markets LLC</TD>
<TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
<TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD>
<TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">15,000,000</TD>
<TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="font-size: 10pt; font-weight: bold">Total</TD>
<TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
<TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">$</TD>
<TD STYLE="font-size: 10pt; font-weight: bold; text-align: right">500,000,000</TD>
<TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>




<!-- Field: Page; Sequence: 30; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Sch - </FONT><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Annex A</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-top: 0pt; margin-bottom: 0pt; text-align: center">Time of Sale Information</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 0pt 0in; text-indent: 0.5in">The Issuer Free Writing Prospectus
dated <FONT STYLE="font-size: 10pt">March 5</FONT>, 2024 containing the terms of the Securities filed pursuant to Rule 433 under the Securities
Act, substantially in the form set forth in Annex B hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.95pt; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 31; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Annex 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-top: 0pt; margin-bottom: 0pt; text-align: center">HORMEL FOODS CORPORATION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>Pricing Term Sheet</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 257.8pt; text-align: right; text-indent: 80.55pt"><B>Filed
Pursuant to Rule 433</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 257.8pt; text-align: right; text-indent: 80.55pt"><B>Registration Statement Number 333-268693</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>March 5, 2024</B></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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>HORMEL FOODS CORPORATION</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">$500,000,000 4.800% Notes due
2027 (the &#8220;Notes&#8221;)</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B><U>Pricing Term Sheet</U></B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Issuer:</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Hormel Foods Corporation</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Security:</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">$500,000,000 4.800% Notes due
    2027</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Security Type:</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">SEC Registered</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Expected
    Ratings<SUP>1</SUP>:</FONT></TD>
    <TD STYLE="vertical-align: top; font: italic 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">[Intentionally Omitted]</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Trade Date:</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">March 5, 2024</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Settlement Date*:</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">March 8, 2024 (T+3)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; width: 40%; text-align: left"><FONT STYLE="font-size: 10pt">Aggregate Principal
    Amount:</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left"><FONT STYLE="font-size: 10pt">$500,000,000</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Stated Maturity:</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">March 30, 2027</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Coupon (Interest Rate):</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">4.800% per annum, accruing from
    March 30, 2024 (calculated on the basis of a 360-day year consisting of twelve 30-day months)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Interest Payment Dates:</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">March 30 and September 30, commencing September
    30, 2024</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Benchmark Treasury:</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">4.125% due February 15, 2027</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Benchmark Treasury Price / Yield:</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">99-13 &frac34; / 4.333%</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Spread to Benchmark Treasury:</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">50 basis points</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Yield to Maturity:</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">4.833%</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Price to Public:</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">99.903% of principal amount</FONT></TD></TR>
  </TABLE>


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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 132.65pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in"><B><SUP>1</SUP> A securities rating is not a recommendation
to buy, sell or hold securities and may be subject to revision or withdrawal at any time.</B></P>


<!-- Field: Page; Sequence: 32; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; width: 40%; text-align: left"><FONT STYLE="font-size: 10pt">Underwriting Discount:</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; width: 60%; vertical-align: top"><FONT STYLE="font-size: 10pt">0.350% of principal amount</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Optional Redemption:</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">On or after the Par Call Date
    for the Notes, the Issuer may redeem the Notes in whole at any time or in part from time to time at a redemption price equal to 100%
    of the principal amount of the Notes to be redeemed.</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">The Par Call Date is February
    28, 2027 (one month prior to the maturity date of the Notes).</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">At any time prior to the Par
    Call Date, the Issuer may, at its option, redeem the Notes in whole at any time or in part from time to time at the redemption price
    equal to the greater of:</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">(i) 100% of the principal amount
    of the Notes to be redeemed; and</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">(ii) the sum of the present
    values of the remaining scheduled payments of principal and interest thereon that would be due if the Notes matured on the Par Call
    Date (not including any portion of such payments of interest accrued as of the date of redemption), discounted to the date of redemption
    on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the Prospectus
    Supplement), plus 10 basis points.</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">CUSIP / ISIN:</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">440452AK6 / US440452AK64</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Joint Book-Running Managers:</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">BofA Securities, Inc.</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">J.P. Morgan Securities LLC</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">U.S. Bancorp Investments, Inc.<BR>

    Wells Fargo Securities, LLC</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">Co-Managers:</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Siebert Williams Shank &amp;
    Co., LLC<BR>
 Barclays Capital Inc.<BR>
 PNC Capital Markets LLC</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in"><B>*It is expected that delivery of the Notes will be
made against payment thereof on or about March 8, 2024, which will be the third business day following the date of the pricing of the
Notes (such settlement being referred to as &#8220;T+3&#8221;). Under Rule 15c6-1 under the Exchange Act, trades in the secondary market
are generally required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers
who wish to trade Notes prior to the second business day preceding the delivery of the offered Notes will be required, by virtue of the
fact that the Notes will initially settle in T+3, to specify an alternate settlement arrangement at the time of any such trade to prevent
a failed settlement.</B></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 0pt 0in"><B>The issuer has filed a registration statement (including
a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in
that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this
offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter
or any dealer participating in the offering will arrange to send you the prospectus and the prospectus supplement if you request it by
calling BofA Securities, Inc. at 1-800-294-1322, J.P. Morgan Securities LLC at 1-212- 834-4533, U.S. Bancorp Investments, Inc. at 1-877-558-2607
or Wells Fargo Securities, LLC at 1-800- 645-3751.</B></P>


<!-- Field: Page; Sequence: 33; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in"><B>Any disclaimer or other notice that may appear below is
not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this
communication being sent by Bloomberg or another email system.</B></P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 34; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">B-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>3
<FILENAME>tm247685d6_ex4-1.htm
<DESCRIPTION>EXHIBIT 4.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<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: right"><B>Exhibit 4.1</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">[Face of Note]</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">Unless
this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation
(&ldquo;DTC&rdquo;), to the Company or its agent for registration of transfer, exchange or payment, and any certificate issued is
registered in the name of Cede&nbsp;&amp; Co. or in such other name as requested by an authorized representative of DTC (and any
payment is made to Cede&nbsp;&amp; Co. or such other entity as is requested by an authorized representative of DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof,
Cede&nbsp;&amp; Co., has an interest herein.</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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%">CUSIP NO. 440452AK6</TD><TD STYLE="text-align: right; width: 50%">PRINCIPAL
AMOUNT: $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>ISIN US440452AK64</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">REGISTERED NO. </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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>HORMEL FOODS CORPORATION</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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>4.800% Notes due 2027</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">HORMEL FOODS CORPORATION, a corporation
duly organized and existing under the laws of the State of Delaware (hereinafter called the &ldquo;Company,&rdquo; which term includes
any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE&nbsp;&amp;
CO., or registered assigns, the principal sum of $____ on March&nbsp;30, 2027 and to pay interest thereon from March&nbsp;8, 2024 or from
the most recent Interest Payment Date to which interest has been paid or duly provided for semi-annually on March&nbsp;30 and September&nbsp;30
of each year, commencing September&nbsp;30, 2024, at the rate of 4.800% per annum, until the principal hereof is paid or made available
for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided in the
Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business
on the Regular Record Date for such interest (whether or not a Business Day, as defined below) next preceding such Interest Payment Date.
The Regular Record Date for an Interest Payment Date shall be the fifteenth calendar day prior to such Interest Payment Date. If an Interest
Payment Date is not a Business Day, interest on this Security shall be payable on the next day that is a Business Day, with the same force
and effect as if made on such Interest Payment Date, and without any interest or other payment with respect to the delay. &ldquo;Business
Day&rdquo; as used herein is a day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions
are authorized or required by law or regulation to close in New York, New York.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">Any interest not punctually paid or duly
provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose
name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment
of such Defaulted Interest to be fixed by the Trustee, notice whereof to be given to Holders of Securities of this series not less than
10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of
any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange,
all as more fully provided in the Indenture.</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>

<!-- Field: Page; Sequence: 1; Options: NewSection -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">Payment of interest on this Security shall
be made in immediately available funds at the office or agency of the Company maintained for that purpose, which is currently in St. Paul,
Minnesota, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and
private debts; provided, however, that, at the option of the Company, payment of interest may be paid by check mailed to the Person entitled
thereto at such Person&rsquo;s last address as it appears in the Security Register or by wire transfer to such account as may have been
designated by such Person. Payment of principal of and interest on this Security at Maturity shall be made against presentation of this
Security at the office or agency of the Company maintained for that purpose, which is currently in St. Paul, Minnesota.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">Notwithstanding the foregoing, for so long as this Security
is a Global Security registered in the name of the Depositary, payments of principal and interest on this Security will be made to the
Depositary by wire transfer of immediately available funds.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">Reference is hereby made to the further
provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if
set forth at this place.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">Unless the certificate of authentication
hereon has been executed by the Trustee referred to on the reverse hereof by manual signature or its duly authorized agent under the Indenture
referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid
or obligatory for any purpose.</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>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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 0pt 0in; text-indent: 0.5in">IN WITNESS WHEREOF, the Company has caused
this instrument to be duly executed under its corporate seal.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif">HORMEL FOODS CORPORATION</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%">Name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 42%">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">(SEAL)</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Attest:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%">Name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 42%">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">TRUSTEE&rsquo;S CERTIFICATE OF</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">AUTHENTICATION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">DATED: </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">This is one of the Securities
of the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">series designated therein referred
to in the within mentioned Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">U.S. BANK TRUST COMPANY, NATIONAL
ASSOCIATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">as Trustee</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%">By:</TD><TD STYLE="border-bottom: Black 1pt solid; width: 45%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>Authorized Signature</TD>
    <TD>&nbsp;</TD></TR>
                                           </TABLE>

<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 0pt 1.5in; text-align: left">OR</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%"></TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>as Authenticating Agent for the Trustee</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%">By:</TD><TD STYLE="border-bottom: Black 1pt solid; width: 45%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>Authorized Signature</TD>
    <TD>&nbsp;</TD></TR>
                                           </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Reverse of Note]</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: center"><B>HORMEL FOODS CORPORATION</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: center"><B>4.800% Notes due 2027</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">This Security is one of a duly authorized
issue of securities of the Company (herein called the &ldquo;<U>Securities</U>&rdquo;), issued and to be issued in one or more series
under an Indenture dated as of April&nbsp;1, 2011 as amended or supplemented from time to time (herein called the &ldquo;<U>Indenture</U>&rdquo;),
between the Company and U.S. Bank Trust Company, National Association (successor to U.S. Bank National Association), as Trustee (herein
called the &ldquo;<U>Trustee</U>,&rdquo; which term includes any successor trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder
of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated
and delivered. This Security is one of the series designated on the face hereof, such series being limited in initial aggregate principal
amount to $500,000,000; provided, however, that the Company may, so long as no Event of Default has occurred and is continuing, without
the consent of the Holders of the Securities of this series, issue additional Securities with the same terms as the Securities of this
series, and such additional Securities shall be considered part of the same series under the Indenture as the Securities of this series,
provided that if any such additional notes are not fungible with the existing notes for United States federal income tax purposes, such
additional notes will have a separate CUSIP number.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">The Securities of this series shall not be entitled
to any sinking fund.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Optional Redemption</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">The Company may, at its option, redeem
the Securities of this series, in whole at any time or in part from time to time, at the applicable Redemption Price specified below.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">In the case of any such redemption before
the Par Call Date, the Redemption Price (expressed as a percentage of principal amount and rounded to three decimal places) will be equal
to <U>the greater of</U>:</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 0pt 0.5in; text-indent: 0.5in"> (i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239; 100% of the principal amount of the Securities to be redeemed, and</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 0pt 0.5in; text-indent: 0.5in">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;(a)&nbsp;the
sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the Redemption Date
(assuming such Securities matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day
months) at the Treasury Rate, plus 10 basis points less (b)&nbsp;interest accrued to the Redemption Date, <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>plus</U></FONT>,
in either case, accrued and unpaid interest, if any, on the Securities to be redeemed to but excluding the Redemption Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">In the
case of any such redemption on or after the Par Call Date, the Redemption Price will be equal to 100% of the principal amount of the
Securities being redeemed plus accrued and unpaid interest, if any, on the Securities to be redeemed to but excluding the Redemption
Date.</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>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">Notwithstanding the foregoing, installments
of interest on the Securities of this series that are due and payable on Interest Payment Dates falling on or prior to a Redemption Date
will be payable on the Interest Payment Date to the Holders of the Securities of this series as of the close of business on the relevant
Regular Record Date.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">In the case of a partial redemption of
Securities of this series, selection of the Securities for redemption will be made pro rata, by lot or by such other method as the Trustee
in its sole discretion deems appropriate and fair. No Security of this series of a principal amount of $2,000 or less will be redeemed
in part. If any Security is to be redeemed in part only, the notice of redemption that relates to such Security will state the portion
of the principal amount of the Security to be redeemed. A new Security in a principal amount equal to the unredeemed portion of the Security
will be issued in the name of the holder of the Security upon surrender for cancellation of the original Security. For so long as any
Security is held by the Depositary, the redemption of the notes shall be done in accordance with the policies and procedures of the Depositary.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">Notice of any redemption will be mailed
or electronically delivered (or otherwise transmitted in accordance with the Depositary&rsquo;s procedures) at least 10 days but not more
than 60 days before the Redemption Date to each Holder of the Securities of this series to be redeemed.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">If a Redemption Date is not a Business
Day, amounts payable on the Securities of this series on such Redemption Date shall be payable on the next succeeding day that is a Business
Day, with the same force and effect as if made on such Redemption Date, and without any interest or other payment with respect to the
delay.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">Unless the Company defaults in payment
of the Redemption Price, on and after the Redemption Date interest shall cease to accrue on the Securities of this series or portions
thereof called for redemption.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">The Company&rsquo;s actions and determinations
in determining the Redemption Price shall be conclusive and binding for all purposes, absent manifest error.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">For purposes of determining the Redemption
Price in connection with a redemption of the Securities of this series, the following terms are relevant:</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">&ldquo;<U>Par Call Date</U>&rdquo; means February&nbsp;28,
2027.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">&ldquo;<U>Treasury Rate</U>&rdquo; means,
with respect to any Redemption Date, the yield determined by us in accordance with the following two paragraphs.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">The Treasury Rate shall be determined by
the Company after 4:15 p.m., New York City time (or after such time as yields on U.S. government securities are posted daily by the Board
of Governors of the Federal Reserve System), on the third Business Day preceding the Redemption Date based upon the yield or yields for
the most recent day that appear after such time on such day in the most recent statistical release published by the Board of Governors
of the Federal Reserve System designated as &ldquo;Selected Interest Rates (Daily) - H.15&rdquo; (or any successor designation or publication)
(&ldquo;<U>H.15</U>&rdquo;) under the caption &ldquo;U.S. government securities&ndash;Treasury constant maturities&ndash;Nominal&rdquo;
(or any successor caption or heading) (&ldquo;<U>H.15 TCM</U>&rdquo;). In determining the Treasury Rate, the Company shall select, as
applicable: (1)&nbsp;the yield for the treasury constant maturity on H.15 exactly equal to the period from the redemption date to the
Par Call Date (the &ldquo;<U>remaining life</U>&rdquo;); or (2)&nbsp;if there is no such treasury constant maturity on H.15 exactly equal to the remaining life, the two yields
 &ndash; one yield corresponding to the treasury constant maturity on H.15 immediately shorter than and one yield corresponding to
the treasury constant maturity on H.15 immediately longer than the remaining life &ndash; and shall interpolate to the Par Call Date
on a straight-line basis (using the actual number of days) using such yields and rounding the result to three decimal places; or
(3)&nbsp;if there is no such treasury constant maturity on H.15 shorter than or longer than the remaining life, the yield for the
single treasury constant maturity on H.15 closest to the remaining life. For purposes of this paragraph, the applicable treasury
constant maturity or maturities on H.15 shall be deemed to have a maturity date equal to the relevant number of months or years, as
applicable, of such treasury constant maturity from the Redemption Date.</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>

<!-- Field: Page; Sequence: 5; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">If on the third Business Day preceding
the redemption date H.15 TCM is no longer published, the Company shall calculate the Treasury Rate based on the rate per annum equal to
the semi-annual equivalent yield to maturity at 11:00 a.m., New York City time, on the second Business Day preceding such Redemption Date
of the United States Treasury security maturing on, or with a maturity that is closest to, the Par Call Date, as applicable. If there
is no United States Treasury security maturing on the Par Call Date but there are two or more United States Treasury securities with a
maturity date equally distant from the Par Call Date, one with a maturity date preceding the Par Call Date and one with a maturity date
following the Par Call Date, the Company shall select the United States Treasury security with a maturity date preceding the Par Call
Date. If there are two or more United States Treasury securities maturing on the Par Call Date or two or more United States Treasury securities
meeting the criteria of the preceding sentence, the Company shall select from among these two or more United States Treasury securities
the United States Treasury security that is trading closest to par based upon the average of the bid and asked prices for such United
States Treasury securities at 11:00 a.m., New York City time. In determining the Treasury Rate in accordance with the terms of this paragraph,
the semi-annual yield to maturity of the applicable United States Treasury security shall be based upon the average of the bid and asked
prices (expressed as a percentage of principal amount) at 11:00 a.m., New York City time, of such United States Treasury security, and
rounded to three decimal places.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Repurchase at the Option of the Holders upon a Change of
Control Triggering Event</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">If a Change of Control Triggering Event
occurs, unless the Company has exercised its right to redeem the Securities of this series, a Holder of the Securities of this series
will have the right to require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess
thereof) of the Securities with respect to which such Change of Control Triggering Event has occurred on the terms described below (the
 &ldquo;<U>Change of Control Offer</U>&rdquo;). In the Change of Control Offer, the Company shall be required to offer payment in cash
equal to 101% of the aggregate principal amount of Securities of this series repurchased, plus any accrued and unpaid interest on the
Securities of this series repurchased to but excluding the date of repurchase (a &ldquo;<U>Change of Control Payment</U>&rdquo;).</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">Within
15 days following any Change of Control Triggering Event or, at the Company&rsquo;s option, prior to the date of consummation of any
Change of Control, but after public announcement of the pending Change of Control, a notice shall be sent to Holders of the
Securities of this series, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute
the Change of Control and offering to repurchase such Securities on the date specified in the notice, which date shall be no earlier
than 15 days and no later than 60 days from the date such notice is sent (a &ldquo;<U>Change of Control Payment Date</U>&rdquo;).
The notice shall, if sent prior to the date of consummation of the Change of Control, state that the offer to purchase is
conditioned on the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date. If a Change of
Control Payment Date is not a Business Day, amounts payable on the Securities of this series on such Change of Control Payment Date
shall be payable on the next succeeding day that is a Business Day, with the same force and effect as if made on such Change of
Control Payment Date, and without any interest or other payment with respect to the delay.</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>

<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">In order to accept the Change of Control
Offer, the Holder must deliver to the Paying Agent, at least five Business Days prior to the Change of Control Payment Date, this Security
together with the form entitled &ldquo;Election Form&rdquo; (which form is annexed hereto) duly completed, or a telegram, telex, facsimile
transmission or a letter from a member of a national securities exchange, or the Financial Industry Regulatory Authority or a commercial
bank or trust company in the United States setting forth:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>the name of the Holder of this Security;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>the principal amount of this Security;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD>the principal amount of this Security to be repurchased;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(iv)</TD><TD STYLE="text-align: justify">the certificate number and CUSIP number or a description of
the tenor and terms of this Security;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD>a statement that the Holder is accepting the Change of Control Offer; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD>a guarantee that this Security, together with the form entitled &ldquo;Election Form&rdquo; duly completed, will be received by the
Paying Agent at least five Business Days prior to the Change of Control Payment Date.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">Any exercise by a Holder of its
election to accept the Change of Control Offer shall be irrevocable. The Change of Control Offer may be accepted for less than the
entire principal amount of this Security, but in that event the principal amount of this Security remaining outstanding after
repurchase must be equal to $2,000 or an integral multiple of $1,000 in excess thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">On any Change of Control Payment Date, the
Company shall, to the extent lawful:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>accept for payment all Securities of this series or portions of such Securities properly tendered pursuant to the Change of Control
Offer;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD>deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of the Securities of this series or portions
of such Securities properly tendered; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD>deliver or cause to be delivered to the Trustee the Securities of this series properly accepted.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">The Paying
Agent will promptly pay to each Holder of Securities of this series properly tendered the purchase price for such Securities of this
series, and the Trustee will promptly authenticate and send (or cause to be transferred by book-entry) to each Holder a new Security
of this series equal in principal amount to any unpurchased portion of any Security of this series surrendered; provided that each new
Security of this series will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof.</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>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">The Company shall not be required to make
a Change of Control Offer upon the occurrence of a Change of Control Triggering Event if a third party makes such an offer in the manner,
at the times and otherwise in compliance with the requirements for an offer made by the Company and the third party purchases all Securities
of this series properly tendered and not withdrawn under its offer.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">The Company shall comply with the requirements
of Rule&nbsp;14e-1 under the Securities Exchange Act of 1934, as amended (the &ldquo;<U>Exchange Act</U>&rdquo;), and any other securities
laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Securities
of this series as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations
conflict with the Change of Control Offer provisions of the Securities of this series, the Company shall comply with those securities
laws and regulations and shall not be deemed to have breached its obligations under the Change of Control provisions of the Securities
of this series by virtue of such conflicts.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">For purposes of the Change of Control Offer
provisions of the Securities of this series, the following terms are applicable:</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">&ldquo;<U>Below Investment Grade Rating
Event</U>&rdquo; means the rating on the Securities of this series is lowered by each of the Rating Agencies and the Securities of this
series are rated below an investment grade rating by each of the Rating Agencies on any date during the period (the &ldquo;Trigger Period&rdquo;)
commencing on the earlier of the consummation of or the first public announcement by the Company of any Change of Control (or pending
Change of Control), and ending 60 days following consummation of such Change of Control (which Trigger Period will be extended following
consummation of a Change of Control for so long as either of the Rating Agencies has publicly announced that it is considering the possible
downgrade of the Securities of this series, and a downgrade by each of the Rating Agencies that has made such an announcement would result
in a Below Investment Grade Rating Event).</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">&ldquo;<U>Change
of Control</U>&rdquo; means the occurrence of any of the following: (1)&nbsp;the direct or indirect sale, lease, transfer,
conveyance or other disposition (other than by way of merger or consolidation), in one or more series of related transactions, of
all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, to any &ldquo;person&rdquo; (as that
term is used in Section&nbsp;13(d)(3)&nbsp;of the Exchange Act) other than the Company or one of its Subsidiaries; (2)&nbsp;the
adoption of a plan relating to the Company&rsquo;s liquidation or dissolution; (3)&nbsp;the consummation of any transaction
(including, without limitation, any merger or consolidation) the result of which is that any person, other than the Hormel
Foundation, becomes the &ldquo;beneficial owner&rdquo; (as defined in Rules&nbsp;13d-3 and 13d-5 under the Exchange Act), directly
or indirectly, of more than 50% of the Company&rsquo;s outstanding Voting Stock, measured by voting power rather than number of
shares; or (4)&nbsp;the Company consolidates with, or merges with or into, any person, or any person consolidates with, or merges
with or into, the Company, in any such event pursuant to a transaction in which any of the Company&rsquo;s outstanding Voting Stock
or the Voting Stock of such other person is converted into or exchanged for cash, securities or other property, other than any such
transaction where the shares of the Company&rsquo;s Voting Stock outstanding immediately prior to such transaction constitute, or
are converted into or exchanged for, a majority of the Voting Stock of the surviving person or any direct or indirect parent company
of the surviving person immediately after giving effect to such transaction. Notwithstanding the foregoing, a transaction shall not
be deemed to involve a Change of Control under clause (3)&nbsp;above if (i)&nbsp;the Company becomes a direct or indirect
wholly-owned subsidiary of a holding company and (ii)(A)&nbsp;the direct or indirect holders of the Voting Stock of such holding
company immediately following that transaction are substantially the same as the holders of the Company&rsquo;s Voting Stock
immediately prior to that transaction or (B)&nbsp;immediately following that transaction no person (other than a holding company
satisfying the requirements of this sentence) is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock
of such holding company.</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>

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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 0pt 0.5in">&ldquo;<U>Change of Control Triggering
Event</U>&rdquo; means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.</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 0pt 0.5in">&ldquo;<U>Hormel Foundation</U>&rdquo; means Hormel Foundation,
a Minnesota non-profit corporation.</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 0pt 0in; text-indent: 0.5in">&ldquo;<U>Investment Grade Rating</U>&rdquo;
means a rating equal to or higher than Baa3 (or the equivalent) by Moody&rsquo;s and BBB- (or the equivalent) by S&amp;P, and the equivalent
investment grade credit rating from any replacement rating agency or rating agencies selected by the Company.</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 0pt 0in; text-indent: 0.5in">&ldquo;<U>Moody&rsquo;s</U>&rdquo; means Moody&rsquo;s
Investors Service,&nbsp;Inc., and its successors.</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 0pt 0in; text-indent: 0.5in">&ldquo;<U>Rating Agencies</U>&rdquo; means
each of Moody&rsquo;s and S&amp;P; provided that if either Moody&rsquo;s or S&amp;P ceases to rate the Securities of this series or fails
to make a rating of such Securities publicly available for reasons outside of the Company&rsquo;s control, a &ldquo;nationally recognized
statistical rating organization&rdquo; within the meaning of Rule&nbsp;15c3-1(c)(2)(vi)(F)&nbsp;under the Exchange Act selected by the
Company as a replacement agency for Moody&rsquo;s or S&amp;P, or either of them, as the case may be.</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 0pt 0in; text-indent: 0.5in">&ldquo;<U>S&amp;P</U>&rdquo; means S&amp;P Global Rating,
a division of S&amp;P Global Inc., and its successors.</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 0pt 0in; text-indent: 0.5in">&ldquo;<U>Voting Stock</U>&rdquo;
of any specified person means the capital stock of such &ldquo;person&rdquo; (as that term is used in Section&nbsp;13(d)(3)&nbsp;of the
Exchange Act) that is at the time entitled to vote generally in the election of the board of directors of such person.</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 0pt 0in; text-indent: 0.5in">The provisions of Article&nbsp;Thirteen
of the Indenture shall apply to the Change of Control provisions of this Security except as and to the extent otherwise specified in this
Security. For purposes of the Indenture, a Change of Control Payment Date shall be deemed to be a Repayment Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Other Provisions</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">If an Event of Default with respect to
Securities of this series as set forth in the Indenture shall occur and be continuing, the principal of the Securities of this series
may be declared due and payable in the manner and with the effect provided in the Indenture.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">The
Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any
time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time
Outstanding of all series to be affected, acting together. The Indenture also contains provisions permitting the Holders of a
majority in principal amount of the Securities of all series at the time Outstanding affected by certain provisions of the
Indenture, acting together, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with those
provisions of the Indenture. Certain past defaults under the Indenture and their consequences may be waived under the Indenture by
the Holders of a majority in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of
all Securities of such series. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such
Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in
exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.</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>

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left; text-indent: 0.5in"> The Indenture contains provisions for defeasance at any time of (a)
the entire indebtedness on this Security and (b) certain restrictive covenants and certain Events of Default,
upon compliance by the Company with certain conditions set forth therein, which provisions apply to this Security.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left; text-indent: 0.5in">Upon due presentment for registration of
transfer of this Security at the office or agency of the Company in St. Paul, Minnesota, a new Security or Securities of this series in
authorized denominations for an equal aggregate principal amount shall be issued to the transferee in exchange herefor, as provided in
the Indenture and subject to the limitations provided therein and to the limitations described below, without charge except for any tax
or other governmental charge imposed in connection therewith.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left; text-indent: 0.5in">This Security is exchangeable for definitive
Securities in registered form only if (x)&nbsp;the Depositary notifies the Company that it is unwilling or unable to continue as Depositary
for this Security or if at any time the Depositary ceases to be a clearing agency registered under the Exchange Act and a qualified successor
depositary is not appointed within 90 days after the Company receives such notice or becomes aware of such ineligibility, (y)&nbsp;the
Company in its sole discretion determines that this Security shall be exchangeable for definitive Securities in registered form or elects
to terminate the book-entry system through the Depositary and notifies the Trustee thereof or (z)&nbsp;an Event of Default with respect
to the Securities represented hereby has occurred and is continuing. If this Security is exchangeable pursuant to the preceding sentence,
it shall be exchangeable for definitive Securities in registered form, bearing interest at the same rate, having the same date of issuance,
redemption provisions, stated maturity date and other terms and of authorized denominations aggregating a like amount.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left; text-indent: 0.5in">This Security may not be transferred except
as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of
the Depositary or by the Depositary or any such nominee to a successor of the Depositary or a nominee of such successor. Except as provided
above, owners of beneficial interests in this global Security shall not be entitled to receive physical delivery of Securities in definitive
form and shall not be considered the Holders hereof for any purpose under the Indenture.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left; text-indent: 0.5in">No reference herein to the Indenture and
no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional,
to pay the principal of and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed, except
as otherwise provided in this Security and except that in the event the Company deposits money or Eligible Instruments as provided in
Articles 4 and 15 of the Indenture, such payments shall be made only from proceeds of such money or Eligible Instruments.</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>

<!-- Field: Page; Sequence: 10; Options: NewSection; Value: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left; text-indent: 0.5in">Prior
to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this
Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left; text-indent: 0.5in">No recourse shall be had for the payment
of the principal of or the interest on this Security, or for any claim based hereon, or otherwise in respect hereof, or based on or in
respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past,
present or future, of the Company or any successor corporation, whether by virtue of any constitution, statute or rule&nbsp;of law, or
by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration
for the issuance hereof, expressly waived and released.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left; text-indent: 0.5in">All terms used in this Security which are
defined in the Indenture shall have the meanings assigned to them in the Indenture unless otherwise defined in this Security.</P>

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

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

<!-- Field: Page; Sequence: 11; Value: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ABBREVIATIONS</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left; text-indent: 0.5in">The following abbreviations, when used
in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable
laws or regulations:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 10%">TEN COM</TD><TD STYLE="width: 10%; text-align: center">&mdash;</TD><TD STYLE="text-align: justify; width: 80%">as tenants in common </TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>TEN ENT</TD><TD STYLE="text-align: center">&mdash;</TD><TD STYLE="text-align: justify">as tenants by the entireties</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>JT TEN&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="text-align: center">&mdash;</TD><TD STYLE="text-align: justify">as joint tenants with right of survivorship and not as tenants in common</TD></TR>
</TABLE>

<P STYLE="margin: 0; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20%">UNIF GIFT MIN ACT</TD><TD STYLE="text-align: left; width: 5%">&mdash;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 30%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 15%">Custodian</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 30%">&nbsp;</TD>
    </TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">(Cust)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(Minor)</TD>
    </TR>
     </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Under Uniform Gifts to Minors Act</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 45%"></TD><TD STYLE="width: 40%; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify; width: 55%">&nbsp;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: center">(State)</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Additional abbreviations may also be used though not in the
above list.</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 0pt 0in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FOR
VALUE RECEIVED</B></FONT>, the undersigned hereby sell(s)&nbsp;and transfer(s)&nbsp;unto</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-indent: 0.5in">Please Insert Social Security or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-indent: 0.5in">Other Identifying Number of Assignee</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 30%"></TD><TD STYLE="text-align: justify; width: 70%">&nbsp;</TD>
</TR></TABLE>

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

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(PLEASE PRINT OR TYPE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF
ASSIGNEE)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">the within Security of HORMEL
FOODS CORPORATION and does hereby irrevocably constitute and appoint<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>attorney
to transfer the said Security on the books of the Company, with full power of substitution in the premises.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 5%">Dated:</TD><TD STYLE="border-bottom: Black 1pt solid; width: 45%; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%"></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 50%">&nbsp;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
     </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">NOTICE: The signature to this assignment must correspond with
the name as written upon the face of the within instrument in every particular, without alteration or enlargement or any change whatever.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">Signature Guarantee</TD></TR>
</TABLE>

<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>

<!-- Field: Page; Sequence: 12 -->
    <DIV STYLE="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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>

<!-- Field: Rule-Page --><DIV STYLE="margin: 0pt auto; width: 25%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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>ELECTION FORM</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; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>TO BE COMPLETED ONLY IF THE HOLDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>ELECTS
TO ACCEPT THE CHANGE OF CONTROL OFFER</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"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 0pt auto; width: 25%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">The undersigned hereby irrevocably requests
and instructs the Company to repurchase the within Security (or the portion thereof specified below), pursuant to its terms, on the Change
of Control Payment Date specified in the Change of Control Offer, for the Change of Control Payment specified in the within Security,
to the undersigned,</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"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>,
at</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>(please
print or typewrite name and address of the undersigned).</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">For this election to accept the Change
of Control Offer to be effective, the Company must receive, at the designated address of the Paying Agent set forth below or at such other
place or places of which the Company shall from time to time notify the Holder of the within Security, either (i)&nbsp;this Security with
this &ldquo;Election Form&rdquo; form duly completed, or (ii)&nbsp;a telegram, telex, facsimile transmission or a letter from a member
of a national securities exchange or the Financial Industry Regulatory Authority or a commercial bank or a trust company in the United
States setting forth (a)&nbsp;the name of the Holder of the Security, (b)&nbsp;the principal amount of the Security, (c)&nbsp;the principal
amount of the Security to be repurchased, (d)&nbsp;the certificate number and CUSIP number or description of the tenor and terms of the
Security, (e)&nbsp;a statement that the option to elect repurchase is being exercised, and (f)&nbsp;a guarantee stating that the Security
to be repurchased, together with this &ldquo;Election Form&rdquo; duly completed will be received by the Paying Agent five Business Days
prior to the Change of Control Payment Date. The address of the Paying Agent is U.S. Bank Trust Company, National Association, Attention:
Global Corporate Trust, 60 Livingston Avenue, St. Paul, Minnesota 55107-2292.</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-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in">If less
than the entire principal amount of the within Security is to be repurchased, specify the portion thereof (which principal amount must
be $2,000 or an integral multiple of $1,000 in excess thereof) which the Holder elects to have repurchased: $<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</U>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 13; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

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


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>4
<FILENAME>tm247685d6_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 5.1</B></P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm247685d6_ex5-1img01.jpg" ALT="">&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 75%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 25%; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Faegre
    Drinker Biddle &amp; Reath LLP</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2200
    Wells Fargo Center</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">90
    South Seventh Street</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minneapolis,
    Minnesota 55402</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">+1
    612 766 7000 main</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">+1
    612 766 1600 fax</FONT></TD></TR>
  </TABLE>


<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">March 8, 2024</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1 Hormel Place</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Austin, Minnesota 55912</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">Ladies and Gentlemen:</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-indent: 0.5in">We have acted as counsel for Hormel Foods Corporation,
a Delaware corporation (the &#8220;<U>Company</U>&#8221;), in connection with the preparation and filing of the prospectus supplement
dated March 5, 2024 (the &#8220;<U>Prospectus Supplement</U>&#8221;) to the prospectus dated December 6, 2022 (together with the Prospectus
Supplement, the &#8220;Prospectus&#8221;) relating to the offer and sale by the Company of $500,000,000 aggregate principal amount of
its 4.800% Notes due 2027 (the &#8220;<U>Notes</U>&#8221;), pursuant to the Underwriting Agreement dated March 5, 2024 between the Company
and the underwriters named therein (the &#8220;<U>Underwriting Agreement</U>&#8221;), which Notes are to be issued under the Indenture,
dated as of April&nbsp;1, 2011 (the &#8220;<U>Indenture</U>&#8221;), between the Company and U.S. Bank National Association, as trustee
(the &#8220;<U>Trustee</U>&#8221;). The Prospectus forms a part of the Company&#8217;s registration statement on Form S-3 (File No. 333-268693)
(the &#8220;<U>Registration Statement</U>&#8221;) filed with the Securities and Exchange Commission (the &#8220;<U>Commission</U>&#8221;)
pursuant to the Securities Act of 1933, as amended (the &#8220;<U>Securities Act</U>&#8221;).</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-indent: 0.5in">We have examined or are otherwise familiar with
the Restated Certificate of Incorporation of the Company, the By-Laws of the Company, the Registration Statement, the Prospectus, the
Underwriting Agreement, the Indenture, executed copies of the global note evidencing the Notes, and such other documents, records, and
instruments as we have deemed necessary or appropriate for the purposes of this opinion.</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-indent: 0.5in">Based upon the foregoing and subject to the
qualifications, assumptions and limitations stated herein, we are of the opinion that, when authenticated by the Trustee in
accordance with the provisions of the Indenture and delivered to and paid for by the Underwriters pursuant to the Underwriting
Agreement, the Notes will constitute valid and binding obligations of the Company, enforceable against the Company in accordance
with their terms, subject to applicable bankruptcy, reorganization, insolvency, assignment for the benefit of creditors, moratorium,
fraudulent conveyance, fraudulent transfer, voidable transaction, receivership, and other laws relating to or affecting
creditors&#8217; rights generally from time to time in effect and subject to general equity principles, including, without
limitation, concepts of materiality, reasonableness, good faith, fair dealing and the possible unavailability of specific
performance, injunctive relief or other equitable remedies (regardless of whether enforceability is considered in a proceeding in
equity or at law) and except further as enforcement may be limited by any governmental authority that limits, delays or prohibits
the making of payments outside of the United States.</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>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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">Hormel Foods Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 8, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 2</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-indent: 0.5in">We have relied upon certificates of public officials
as to the accuracy of all matters addressed therein and, with respect to certain factual matters, upon certificates of and information
provided by officers and employees of the Company as to the accuracy of such factual matters, in each case without independent verification
thereof or other investigation. We have assumed, without investigation, the following: (a)&nbsp;the genuineness of signatures appearing
upon certifications, documents, and proceedings, (b)&nbsp;that each document submitted to us for review is accurate and complete, each
such document that is an original is authentic and each such document that is a copy conforms to an authentic original, (c)&nbsp;the legal
capacity of natural persons who are involved on behalf of the Company to enter into and perform the referenced instrument or agreement
or to carry out their role in the transactions contemplated thereby, (d)&nbsp;the truth, accuracy and completeness of the information,
representations and warranties contained in the documents, instruments, certificates and records we have reviewed, (e)&nbsp;the absence
of any undisclosed modifications to the agreements and instruments reviewed by us, (f) that each party to agreements or instruments relevant
hereto other than the Company has satisfied those legal requirements that are applicable to it to the extent necessary to make such agreements
or instruments enforceable against it, (g)&nbsp;that each party to agreements or instruments relevant hereto other than the Company has
complied with all legal requirements pertaining to its status as such status relates to its rights to enforce such agreements or instruments
against the Company, (h)&nbsp;there has not been any mutual mistake of fact or misunderstanding, fraud, duress or undue influence, (i)&nbsp;all
statutes, judicial and administrative decisions, and rules&nbsp;and regulations of governmental agencies, constituting the law of the
opining jurisdictions, are publicly available to lawyers practicing in such jurisdictions, (j)&nbsp;the conduct of the parties to or having
rights under any instrument or agreement relevant hereto has complied with any requirement of good faith, fair dealing and conscionability,
(k)&nbsp;all relevant statutes, rules, regulations or agency actions are constitutional and valid unless a reported decision in the opining
jurisdictions has specifically addressed but not resolved, or has established, its unconstitutionality or invalidity, and (l)&nbsp;there
are no agreements or understandings among the parties, written or oral, and there is no usage of trade or course of dealing among the
parties that would, in either case, define, supplement or qualify the agreements or instruments relevant hereto.</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-indent: 0.5in">Without limiting any other qualifications set
forth herein, the opinions expressed herein are subject to the effect of generally applicable laws that (a)&nbsp;provide for the
enforcement of oral waivers or modifications where a material change of position in reliance thereon has occurred or provide that a
course of performance may operate as a waiver, (b)&nbsp;limit the enforcement of provisions of instruments or agreements that
purport to require waiver of the obligations of good faith, fair dealing, diligence and reasonableness, (c)&nbsp;limit the
availability of a remedy under certain circumstances where another remedy has been elected, (d)&nbsp;limit the enforceability of
provisions releasing, exculpating or exempting a party from, or requiring indemnification of or contribution to a party for,
liability for its own action or inaction, to the extent the action or inaction involves negligence, recklessness, willful misconduct
or unlawful conduct or insofar as such provisions otherwise contravene public policy, (e)&nbsp;may, where less than all of an
instrument or agreement may be unenforceable, limit the enforceability of the balance of the instrument or agreement to
circumstances in which the unenforceable portion is not an essential part of the agreed exchange, (f)&nbsp;govern and afford
judicial discretion regarding the determination of damages and entitlement to attorneys&#8217; fees and other costs, (g)&nbsp;may
permit a party who has materially failed to render or offer performance required by a contract to cure that failure unless either
permitting a cure would unreasonably hinder the aggrieved party from making substitute arrangements for performance or it is
important under the circumstances to the aggrieved party that performance occur by the date stated in the instrument or agreement,
(h)&nbsp;may require mitigation of damages, (i)&nbsp;may limit the enforceability of certain waivers, (j)&nbsp;provide a time
limitation after which a remedy may not be enforced (i.e., statutes of limitation), (k) may limit the enforceability of provisions
for the payment of premiums upon mandatory prepayment to the extent any such payment constitutes, or is deemed to constitute, a
penalty or forfeiture, or (l) may require that a claim with respect to any debt securities that are payable other than in U.S.
dollars (or a foreign currency judgment in respect of such claim) be converted into U.S. dollars at a rate of exchange prevailing on
a date determined pursuant to applicable law.</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>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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">Hormel Foods Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 8, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 3</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-indent: 0.5in">The opinions expressed herein are limited to the
specific issues addressed and to facts and laws existing on the date hereof. By rendering our opinion, we do not undertake to advise you
with respect to any other matter or of any change in such facts and laws or in the interpretation thereof which may occur after the date
hereof.</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-indent: 0.5in">Our opinions set forth herein are limited to the
laws of the State of New York and the General Corporation Law of the State of Delaware, and we are expressing no opinion as to the effect
of any other laws. In addition, we express no opinion as to whether, or the extent to which, the laws of any particular jurisdiction apply
to the subject matter hereof, including, without limitation, the enforceability of the governing law provision contained in the Notes.</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-indent: 0.5in">We hereby consent to the filing of this opinion
as an exhibit to the Current Report on Form 8-K of the Company filed with the Commission on the date hereof and thereby incorporated by
reference into the Registration Statement and to being named in the Prospectus Supplement under the caption &#8220;Legal Opinions.&#8221;
In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section&nbsp;7
of the Securities Act or the rules and regulations of the Commission thereunder.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">FAEGRE DRINKER BIDDLE&nbsp;&amp; REATH LLP</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">/s/ <U>Faegre Drinker Biddle &amp; Reath LLP</U></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 2.5in">&nbsp;</P>

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

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>5
<FILENAME>hrl-20240305.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" ?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.21b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
    <!-- Field: Doc-Info; Name: Misc; Value: +aA5w7xRiXgen8uLa3ZcWayDibOdzZR+SYkxtmBzbflKryQq/NvEFCsPJIX2MTkH -->
<schema xmlns="http://www.w3.org/2001/XMLSchema" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:dei="http://xbrl.sec.gov/dei/2023" xmlns:us-gaap="http://fasb.org/us-gaap/2023" xmlns:srt="http://fasb.org/srt/2023" xmlns:srt-types="http://fasb.org/srt-types/2023" xmlns:hrl="http://hormel.com/20240305" elementFormDefault="qualified" targetNamespace="http://hormel.com/20240305">
    <annotation>
      <appinfo>
        <link:roleType roleURI="http://hormel.com/role/Cover" id="Cover">
          <link:definition>00000001 - Document - Cover</link:definition>
          <link:usedOn>link:presentationLink</link:usedOn>
          <link:usedOn>link:calculationLink</link:usedOn>
          <link:usedOn>link:definitionLink</link:usedOn>
        </link:roleType>
        <link:linkbaseRef xlink:type="simple" xlink:href="hrl-20240305_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Presentation Links" />
        <link:linkbaseRef xlink:type="simple" xlink:href="hrl-20240305_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Label Links" />
      </appinfo>
    </annotation>
    <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
    <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
    <import namespace="http://xbrl.sec.gov/dei/2023" schemaLocation="https://xbrl.sec.gov/dei/2023/dei-2023.xsd" />
    <import namespace="http://fasb.org/us-gaap/2023" schemaLocation="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd" />
    <import namespace="http://fasb.org/us-types/2023" schemaLocation="https://xbrl.fasb.org/us-gaap/2023/elts/us-types-2023.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/2022-03-31" schemaLocation="https://www.xbrl.org/dtr/type/2022-03-31/types.xsd" />
    <import namespace="http://xbrl.sec.gov/country/2023" schemaLocation="https://xbrl.sec.gov/country/2023/country-2023.xsd" />
    <import namespace="http://fasb.org/srt/2023" schemaLocation="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd" />
    <import namespace="http://fasb.org/srt-types/2023" schemaLocation="https://xbrl.fasb.org/srt/2023/elts/srt-types-2023.xsd" />
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>6
<FILENAME>hrl-20240305_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.21b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel" />
    <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CoverAbstract" xlink:label="dei_CoverAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CoverAbstract" xlink:to="dei_CoverAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CoverAbstract_lbl" xml:lang="en-US">Cover [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentType" xlink:label="dei_DocumentType" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentDescription" xlink:label="dei_AmendmentDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentDescription" xlink:to="dei_AmendmentDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentDescription_lbl" xml:lang="en-US">Amendment Description</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentRegistrationStatement" xlink:label="dei_DocumentRegistrationStatement" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentRegistrationStatement" xlink:to="dei_DocumentRegistrationStatement_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentRegistrationStatement_lbl" xml:lang="en-US">Document Registration Statement</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentAnnualReport" xlink:label="dei_DocumentAnnualReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAnnualReport" xlink:to="dei_DocumentAnnualReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAnnualReport_lbl" xml:lang="en-US">Document Annual Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentQuarterlyReport" xlink:label="dei_DocumentQuarterlyReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentQuarterlyReport" xlink:to="dei_DocumentQuarterlyReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentQuarterlyReport_lbl" xml:lang="en-US">Document Quarterly Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentTransitionReport" xlink:label="dei_DocumentTransitionReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentTransitionReport_lbl" xml:lang="en-US">Document Transition Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentShellCompanyReport" xlink:label="dei_DocumentShellCompanyReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyReport" xlink:to="dei_DocumentShellCompanyReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyReport_lbl" xml:lang="en-US">Document Shell Company Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentShellCompanyEventDate" xlink:label="dei_DocumentShellCompanyEventDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyEventDate" xlink:to="dei_DocumentShellCompanyEventDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyEventDate_lbl" xml:lang="en-US">Document Shell Company Event Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodStartDate" xlink:label="dei_DocumentPeriodStartDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodStartDate" xlink:to="dei_DocumentPeriodStartDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodStartDate_lbl" xml:lang="en-US">Document Period Start Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityPrimarySicNumber" xlink:label="dei_EntityPrimarySicNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPrimarySicNumber" xlink:to="dei_EntityPrimarySicNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPrimarySicNumber_lbl" xml:lang="en-US">Entity Primary SIC Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityTaxIdentificationNumber" xlink:label="dei_EntityTaxIdentificationNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US">Entity Tax Identification Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine1" xlink:label="dei_EntityAddressAddressLine1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US">Entity Address, Address Line One</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine2" xlink:label="dei_EntityAddressAddressLine2" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US">Entity Address, Address Line Two</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine3" xlink:label="dei_EntityAddressAddressLine3" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine3" xlink:to="dei_EntityAddressAddressLine3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine3_lbl" xml:lang="en-US">Entity Address, Address Line Three</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCityOrTown" xlink:label="dei_EntityAddressCityOrTown" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US">Entity Address, City or Town</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US">Entity Address, State or Province</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCountry" xlink:label="dei_EntityAddressCountry" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCountry_lbl" xml:lang="en-US">Entity Address, Country</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CountryRegion" xlink:label="dei_CountryRegion" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CountryRegion" xlink:to="dei_CountryRegion_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CountryRegion_lbl" xml:lang="en-US">Country Region</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Extension" xlink:label="dei_Extension" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Extension" xlink:to="dei_Extension_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Extension_lbl" xml:lang="en-US">Extension</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_WrittenCommunications" xlink:label="dei_WrittenCommunications" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_WrittenCommunications_lbl" xml:lang="en-US">Written Communications</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SolicitingMaterial" xlink:label="dei_SolicitingMaterial" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SolicitingMaterial_lbl" xml:lang="en-US">Soliciting Material</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementTenderOffer" xlink:label="dei_PreCommencementTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementTenderOffer_lbl" xml:lang="en-US">Pre-commencement Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="dei_PreCommencementIssuerTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xml:lang="en-US">Pre-commencement Issuer Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12bTitle_lbl" xml:lang="en-US">Title of 12(b) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_NoTradingSymbolFlag" xlink:label="dei_NoTradingSymbolFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_NoTradingSymbolFlag" xlink:to="dei_NoTradingSymbolFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_NoTradingSymbolFlag_lbl" xml:lang="en-US">No Trading Symbol Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityExchangeName_lbl" xml:lang="en-US">Security Exchange Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12gTitle" xlink:label="dei_Security12gTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12gTitle" xlink:to="dei_Security12gTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12gTitle_lbl" xml:lang="en-US">Title of 12(g) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityReportingObligation" xlink:label="dei_SecurityReportingObligation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityReportingObligation" xlink:to="dei_SecurityReportingObligation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityReportingObligation_lbl" xml:lang="en-US">Security Reporting Obligation</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AnnualInformationForm" xlink:label="dei_AnnualInformationForm" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AnnualInformationForm" xlink:to="dei_AnnualInformationForm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AnnualInformationForm_lbl" xml:lang="en-US">Annual Information Form</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="dei_AuditedAnnualFinancialStatements" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditedAnnualFinancialStatements" xlink:to="dei_AuditedAnnualFinancialStatements_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditedAnnualFinancialStatements_lbl" xml:lang="en-US">Audited Annual Financial Statements</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Entity Voluntary Filers</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityInteractiveDataCurrent" xlink:label="dei_EntityInteractiveDataCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US">Entity Interactive Data Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntitySmallBusiness" xlink:label="dei_EntitySmallBusiness" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntitySmallBusiness_lbl" xml:lang="en-US">Entity Small Business</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US">Entity Emerging Growth Company</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityExTransitionPeriod" xlink:label="dei_EntityExTransitionPeriod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityExTransitionPeriod" xlink:to="dei_EntityExTransitionPeriod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityExTransitionPeriod_lbl" xml:lang="en-US">Elected Not To Use the Extended Transition Period</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentAccountingStandard" xlink:label="dei_DocumentAccountingStandard" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAccountingStandard" xlink:to="dei_DocumentAccountingStandard_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAccountingStandard_lbl" xml:lang="en-US">Document Accounting Standard</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_OtherReportingStandardItemNumber" xlink:label="dei_OtherReportingStandardItemNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_OtherReportingStandardItemNumber" xlink:to="dei_OtherReportingStandardItemNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_OtherReportingStandardItemNumber_lbl" xml:lang="en-US">Other Reporting Standard Item Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityShellCompany_lbl" xml:lang="en-US">Entity Shell Company</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPublicFloat" xlink:to="dei_EntityPublicFloat_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPublicFloat_lbl" xml:lang="en-US">Entity Public Float</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityBankruptcyProceedingsReportingCurrent" xlink:label="dei_EntityBankruptcyProceedingsReportingCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityBankruptcyProceedingsReportingCurrent" xlink:to="dei_EntityBankruptcyProceedingsReportingCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityBankruptcyProceedingsReportingCurrent_lbl" xml:lang="en-US">Entity Bankruptcy Proceedings, Reporting Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentsIncorporatedByReferenceTextBlock" xlink:label="dei_DocumentsIncorporatedByReferenceTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentsIncorporatedByReferenceTextBlock" xlink:to="dei_DocumentsIncorporatedByReferenceTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentsIncorporatedByReferenceTextBlock_lbl" xml:lang="en-US">Documents Incorporated by Reference [Text Block]</link:label>
    </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>7
<FILENAME>hrl-20240305_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.21b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef roleURI="http://hormel.com/role/Cover" xlink:href="hrl-20240305.xsd#Cover" xlink:type="simple" />
    <link:presentationLink xlink:type="extended" xlink:role="http://hormel.com/role/Cover" xlink:title="00000001 - Document - Cover">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CoverAbstract" xlink:label="loc_deiCoverAbstract" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentType" xlink:label="loc_deiDocumentType" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentType" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentFlag" xlink:label="loc_deiAmendmentFlag" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAmendmentFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentDescription" xlink:label="loc_deiAmendmentDescription" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAmendmentDescription" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentRegistrationStatement" xlink:label="loc_deiDocumentRegistrationStatement" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentRegistrationStatement" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentAnnualReport" xlink:label="loc_deiDocumentAnnualReport" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentAnnualReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentQuarterlyReport" xlink:label="loc_deiDocumentQuarterlyReport" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentQuarterlyReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentTransitionReport" xlink:label="loc_deiDocumentTransitionReport" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentTransitionReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentShellCompanyReport" xlink:label="loc_deiDocumentShellCompanyReport" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentShellCompanyReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentShellCompanyEventDate" xlink:label="loc_deiDocumentShellCompanyEventDate" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentShellCompanyEventDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodStartDate" xlink:label="loc_deiDocumentPeriodStartDate" />
      <link:presentationArc order="90" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentPeriodStartDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_deiDocumentPeriodEndDate" />
      <link:presentationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentPeriodEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_deiDocumentFiscalPeriodFocus" />
      <link:presentationArc order="110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentFiscalPeriodFocus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_deiDocumentFiscalYearFocus" />
      <link:presentationArc order="120" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentFiscalYearFocus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_deiCurrentFiscalYearEndDate" />
      <link:presentationArc order="130" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiCurrentFiscalYearEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFileNumber" xlink:label="loc_deiEntityFileNumber" />
      <link:presentationArc order="140" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityFileNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName" xlink:label="loc_deiEntityRegistrantName" />
      <link:presentationArc order="150" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityRegistrantName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCentralIndexKey" xlink:label="loc_deiEntityCentralIndexKey" />
      <link:presentationArc order="160" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCentralIndexKey" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityPrimarySicNumber" xlink:label="loc_deiEntityPrimarySicNumber" />
      <link:presentationArc order="170" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityPrimarySicNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_deiEntityTaxIdentificationNumber" />
      <link:presentationArc order="180" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityTaxIdentificationNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="loc_deiEntityIncorporationStateCountryCode" />
      <link:presentationArc order="190" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityIncorporationStateCountryCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine1" xlink:label="loc_deiEntityAddressAddressLine1" />
      <link:presentationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine1" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine2" xlink:label="loc_deiEntityAddressAddressLine2" />
      <link:presentationArc order="210" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine2" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine3" xlink:label="loc_deiEntityAddressAddressLine3" />
      <link:presentationArc order="220" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine3" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCityOrTown" xlink:label="loc_deiEntityAddressCityOrTown" />
      <link:presentationArc order="230" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressCityOrTown" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressStateOrProvince" xlink:label="loc_deiEntityAddressStateOrProvince" />
      <link:presentationArc order="240" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressStateOrProvince" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCountry" xlink:label="loc_deiEntityAddressCountry" />
      <link:presentationArc order="250" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressCountry" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_deiEntityAddressPostalZipCode" />
      <link:presentationArc order="260" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressPostalZipCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CountryRegion" xlink:label="loc_deiCountryRegion" />
      <link:presentationArc order="270" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiCountryRegion" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CityAreaCode" xlink:label="loc_deiCityAreaCode" />
      <link:presentationArc order="280" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiCityAreaCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LocalPhoneNumber" xlink:label="loc_deiLocalPhoneNumber" />
      <link:presentationArc order="290" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiLocalPhoneNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Extension" xlink:label="loc_deiExtension" />
      <link:presentationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiExtension" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_WrittenCommunications" xlink:label="loc_deiWrittenCommunications" />
      <link:presentationArc order="310" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiWrittenCommunications" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SolicitingMaterial" xlink:label="loc_deiSolicitingMaterial" />
      <link:presentationArc order="320" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSolicitingMaterial" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementTenderOffer" xlink:label="loc_deiPreCommencementTenderOffer" />
      <link:presentationArc order="330" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiPreCommencementTenderOffer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="loc_deiPreCommencementIssuerTenderOffer" />
      <link:presentationArc order="340" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiPreCommencementIssuerTenderOffer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12bTitle" xlink:label="loc_deiSecurity12bTitle" />
      <link:presentationArc order="350" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurity12bTitle" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_NoTradingSymbolFlag" xlink:label="loc_deiNoTradingSymbolFlag" />
      <link:presentationArc order="360" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiNoTradingSymbolFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_TradingSymbol" xlink:label="loc_deiTradingSymbol" />
      <link:presentationArc order="370" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiTradingSymbol" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityExchangeName" xlink:label="loc_deiSecurityExchangeName" />
      <link:presentationArc order="380" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurityExchangeName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_Security12gTitle" xlink:label="loc_deiSecurity12gTitle" />
      <link:presentationArc order="390" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurity12gTitle" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SecurityReportingObligation" xlink:label="loc_deiSecurityReportingObligation" />
      <link:presentationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurityReportingObligation" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AnnualInformationForm" xlink:label="loc_deiAnnualInformationForm" />
      <link:presentationArc order="410" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAnnualInformationForm" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="loc_deiAuditedAnnualFinancialStatements" />
      <link:presentationArc order="420" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAuditedAnnualFinancialStatements" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="loc_deiEntityWellKnownSeasonedIssuer" />
      <link:presentationArc order="430" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityWellKnownSeasonedIssuer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityVoluntaryFilers" xlink:label="loc_deiEntityVoluntaryFilers" />
      <link:presentationArc order="440" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityVoluntaryFilers" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_deiEntityCurrentReportingStatus" />
      <link:presentationArc order="450" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCurrentReportingStatus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityInteractiveDataCurrent" xlink:label="loc_deiEntityInteractiveDataCurrent" />
      <link:presentationArc order="460" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityInteractiveDataCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFilerCategory" xlink:label="loc_deiEntityFilerCategory" />
      <link:presentationArc order="470" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityFilerCategory" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntitySmallBusiness" xlink:label="loc_deiEntitySmallBusiness" />
      <link:presentationArc order="480" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntitySmallBusiness" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityEmergingGrowthCompany" xlink:label="loc_deiEntityEmergingGrowthCompany" />
      <link:presentationArc order="490" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityEmergingGrowthCompany" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityExTransitionPeriod" xlink:label="loc_deiEntityExTransitionPeriod" />
      <link:presentationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityExTransitionPeriod" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentAccountingStandard" xlink:label="loc_deiDocumentAccountingStandard" />
      <link:presentationArc order="510" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentAccountingStandard" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_OtherReportingStandardItemNumber" xlink:label="loc_deiOtherReportingStandardItemNumber" />
      <link:presentationArc order="520" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiOtherReportingStandardItemNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityShellCompany" xlink:label="loc_deiEntityShellCompany" />
      <link:presentationArc order="530" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityShellCompany" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityPublicFloat" xlink:label="loc_deiEntityPublicFloat" />
      <link:presentationArc order="540" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityPublicFloat" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityBankruptcyProceedingsReportingCurrent" xlink:label="loc_deiEntityBankruptcyProceedingsReportingCurrent" />
      <link:presentationArc order="550" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityBankruptcyProceedingsReportingCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_deiEntityCommonStockSharesOutstanding" />
      <link:presentationArc order="560" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCommonStockSharesOutstanding" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentsIncorporatedByReferenceTextBlock" xlink:label="loc_deiDocumentsIncorporatedByReferenceTextBlock" />
      <link:presentationArc order="570" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentsIncorporatedByReferenceTextBlock" xlink:type="arc" />
    </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>tm247685d6_ex5-1img01.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm247685d6_ex5-1img01.jpg
M_]C_X  02D9)1@ ! 0$ R #(  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1" !/ PP# 2(  A$! Q$!_\0
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M\7CPEI?B_5M*GE^TMH6D3:[X/M8!?6?V>YMK"VUO7-<M+;4;.;6[/0H[J%I
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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MXB\+Z'9Z1;^$]:\0ZI?PV]CK.IZE/-#>66F6$.=0V*+X)AG9:_;E51,*@ P
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBD#*>C \@<$=2 P'U*D$#T(/0T +12;E
MZ9&<$]1T4@,?HI(!/8D9ZTF],@;ER5+ ;ADJNW<P&>5&Y<D<#<N3R,@#J*;N
M7"G<N&^Z<C#?*6^4YY^4%N/X03T%+N4D@$$C&1D9&1D9'49'(SU% "T4A('4
M@9.!D]3Z?7VI"Z @%E!(9@"P!*H0'8#.<(64,>BE@#@D4 .HI,C.,C)X R,D
M@9(Q].?IS1D<<CGD<CD'&"/7J/S'K0 M%)D<\CCKSTXSSZ<<_2C<O/S+PP4\
MCAB0 I]&)( '4D@#J* %HI RD$A@0,@D$8!4D,">@VD$'T((/(-+0 4444 %
M%%% !1110 4444 %%%% '\K/_!L=>6FDV/\ P4O\!7]U!:>,_#7[:FMWFM^&
M;B:--8TNRNXM3T.TNKFV=UN%MKC4/#^N6,%Q+"L4MS87%LDAFMYD3'_X.F?$
MFA1_#[_@GSX1EU:R'B/4?VP-,\0V.C&6(WT^B:%HJZ7J6HI:%Q=/:P:EXAT;
M39KI8S;Q7>J1V[R"<(C?7?[3_P#P0JT_XA?M/^+/VP_V./VMOC)^PE\</B)/
M>7OQ-N/AC;3ZOX0\<:OJGEOJFMRZ-:^*?!MSIVHZS.HU7Q##)=ZMHFJZQNU%
M=-M=7DN+]O%_%_\ P;=>&?C%'I?C_P#:+_;E_:+^/7[3.F^./ _B*S^./Q!A
M76+/1/"7@^[^W3_#OPSX O\ Q5>6^EZ5KEZD$UYJ4_B&_P#LHMHVTO3;3[7J
M?VT-;KFYK_+^NAP/A#_E:Z^)WM^QEI^?;=\//AT@SZ9='4>K(RCE2!]&?\'/
MO_*)KXC-_"/BY\& 3V!_X2W9@GH#O^3'7=\O7BOMW2/^":7AW2_^"H/B/_@I
MFGQ4UV;Q)XA^$,7PD?X3/X8L4T2SM8/#V@^&EUN/Q8=6>_EF:#P[!=BU.E >
M9<R@,%()]"_X*2_L(Z+_ ,%&_P!EO7OV8O$/Q#U?X6:9K_BKP9XID\5Z1X=L
MO$][:S>#=575[6R&EW>J:5#+%=3!5EF&I#9M8 G.*".;5.VW_!_S/YR_VK@?
M^'AW_!M(<<#X+?# D]@$TGP$7)/H@!+'HH!)P!7]A?BLC_A%O$G/7P_K+#W4
M:=<9(]0,C)Z#(K\J_BA_P26\*?$[X^?\$Z?CQ=?&?Q)I-_\ \$]/"GA?PIX?
M\/0^#=(O;?XG0>%[;0[:WOM7U.YU9;KPO-=?V)"]Q%8Q:J"LLJX8J6?]:=5L
M%U33-1TUG:)=1L;NR><+N:-;N VSLJ'OM8MV P#GG- .5[:;7_$_S);<S1_\
M&XVH&V >XC_X*GB2U4CJ[?!RQ50PZY9G10,9)95Y)%??L/[-W[??_!&KQM^S
MC_P6+^-'B*;]I&[^+$T>C_MO>&3:V>K^(OAWX4^)=UHMKH%C!XGG%PLUZ/#4
M>EZ3'X@TY;'2?#/B[1](\(VKZOX;UMI[C]J[?_@W5^'UO_P3Y?\ 8#3]J#QP
M= ?]I^+]I8_$@_#?P]_:OV]/!]MX+_X10^&3XD^Q"T^Q6R7IU;^V/,6XX_LC
M.&/[U^+?@]X%^(WPAUGX'?$GP_9>.OA[XF\#/\/O%6AZ_:QW-EK^@W&C+H&H
MQS1.";>6:VWSPW$)2Z@NS'>6,R2P1RJ&GM?[D?/?\^A_'Y_P60N/AK^VK_P4
M(_X(Q>+_  1\<O$WPV^"G[27@K7M)\&_M#?#'6XO#GB/1I-=\5V20Q:)KDKA
M-"U^PU#6M&T75+*ZDCNK+4-3N-/N4BNK=HE^\_&G_!!.P\(^$/%7BGQC_P %
M;O\ @H_IW@WPWX<U;7/%=[J/QEB&FV>@:18WE]K=_J+20JKQII\%T+@;E"(7
MRISSUWA/_@W,^"-G^S=XZ_91^(GQ^^)OQ(^$"_$6[^*_[.4DV@:-H'Q%_9>\
M<:D]Y;ZY<>!/&::MJ=KK/AWQ7IK:-'XR\+ZIH-KI>M:QH<'B?3O[%UV8WJ\)
MK7_! ']IKXD^&(/@U\<_^"P_[6'Q-_9PA2QT^_\ A>VBS:?>:[X<M(HX!X?U
M#6-8^(OBJQGMXK0W$$,NLZ+XEM95D"W6F/C: +K^;8_$+]MCX?\ [)7PY_X(
M=_ O3?V*_BC\2?C#\%=9_P""CMWKP\;?%3PLOA#Q'-XJ'PMU71]=T^TTF#3=
M)FFT>W&F:?%%?1QF$:@ES 66:-T']\'B_P >Z)\+OA3K7Q#\13B#0_!?@B^\
M5:O(2J3?V?H6B2:A-%&CD$W$L-KY$,?5YV2,#<PK\I?VL/\ @BI\ _C]^Q9\
M"OV'/A?XNUO]GGX3?L_^/-(\;^')_#^@6?C+5M<OK'3?$>GZI/XA;5K_ $=K
M[6]?O/$FI^(-6\1>:UW=:K/(T$*6[1(GZ/\ [1GP'3]H#X#^+O@A-XGU'PK9
M^*M+TO1K[7=.L+.\OOL.GZA97D]NMG=,MMY6I)9"TN5W;3;7$T8R&P7)\E/G
M2O.VD9-*-W9*[Z*[5V]$OP\+B*MF-+(LWQ&1T:6-SB&79E5RO#XB<Z-/%YGA
M<-*>$PN(J4KSI4,1B>6E4J4KU(P;E33DDC^1S]G;3?$7[?7_  4$\-ZK\21+
MJ-MXV\>ZAXV\86+3R3VUIX,T&*ZUUO"T0R53P\EAI-AX3M+:'RV_LRZMXP1=
M17)K^U6*TC@2WMXEA\F 1"VC50ODQI"T:"&.,!42)7*PQ!2 A9=I S7Y6?LC
M?\$J_"/[(OQ3G^+/AKXL>(?%VLCPMK?AK3K#6O#^FVNGV<VKRV+KJLOV._62
MXEMX+/R/*4HLBW$Q+J"RU[G\8OV2OC!\?TNM!\?_ +9_QJ\!?#^^)34O!7[-
MNA^$O@A=Z[8M(8[G3=7^(]S:_$#XFK9W=@YT^['A[Q5X8EN8Q]HMWC(6O.RK
M"UL+1K3J_P"\5I2<IZ.4=+146_>=KMN^EVUK=W_G7Z+?A1Q/X<<+<38SCO#X
M:EQUQ?Q9B<USW,Z&-P^;8W&X&G>I@ZM?$X22=24\3B<TQ$XOV<93S/%I4XPJ
MM1^ O^"M7_!9CPQ^R5IM]^S/^RE;'X^?M\_$$GPIX&^&_@6RF\;/\+M3U=5L
M8/$/C73M(%\MUXEL)I1<:%X!9/[9U.?RI]6LK?0C)-?_ !S_ ,$3_P#@A7XO
M^!OCR/\ ;T_;^1O%_P"U3XBU74?&W@SX?ZY=P^(Y/AEKWB*>;4;_ ,>>-=47
M[19ZK\5IGOKB6UM[(2Q>$M0DN;R'4M2UR=;K2/WC_96_X)X?L=_L70W,O[/7
MP,\+^$?$^JQ2KK_Q'U,7OB[XG>(7N&N&N9-<^(GBF]U3Q9=+?/<3O?6L5[#9
M3M+$TMFGDH$^W*] _J*_;3T;"BBB@04444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
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M2G=_L:F\\2?##Q"?';J_PX\+?LL^&UM3X?BQJ\G[-7C3QEXMEU![C[:KVO\
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MR?PS8P;_ !5X;^*'B/XM^-/$$.DV]^]K%8>-/%/BS6'L]"#$^'[3R[0ZGJ*
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MD?\ Z*5J'_A!^.__ )FJ/^'DO[(__12M0_\ "#\=_P#S-4>UI?\ /R/WH/\
MB)/ ?_179%_X4U__ )C/O-P5Y"LW!? !/*KP.!UST!Z]/6@[F&TJPW!03M/!
M90Q)./X6ZYZ=/:O@S_AY+^R/_P!%*U#_ ,(/QW_\S5'_  \E_9'_ .BE:A_X
M0?CO_P"9JJ]O2ZSB^VNW;[K$_P#$1N TTX\7Y'&R]U+$5VHR=7VDI*^#U<E[
MC3TY7?<^\=AR0X9D<C:H4KL/&2=HP/?'O2_. ,(X;#$*N\(<9QN)Z$\\9YX[
M'-?!O_#R7]D?_HI6H?\ A!^._P#YFJ/^'DO[(_\ T4K4/_"#\=__ #-4_K%+
MK.+7:]E^'X]7O=,3\1> F^9\6</\UZ6JJUHOEI[P]S"0TGU>ZOHF??E%? ?_
M  \E_9'_ .BE:A_X0?CO_P"9JC_AY+^R/_T4K4/_  @_'?\ \S51[6E_S\C]
MZ+_XB3P'_P!%=D7_ (4U_P#YC/ORBO@/_AY+^R/_ -%*U#_P@_'?_P S5'_#
MR7]D?_HI6H?^$'X[_P#F:H]K2_Y^1^]!_P 1)X#_ .BNR+_PIK__ #&??E%?
M ?\ P\E_9'_Z*5J'_A!^._\ YFJ/^'DO[(__ $4K4/\ P@_'?_S-4>UI?\_(
M_>@_XB3P'_T5V1?^%-?_ .8S[\HKX#_X>2_LC_\ 12M0_P#"#\=__,U1_P /
M)?V1_P#HI6H?^$'X[_\ F:H]K2_Y^1^]!_Q$G@/_ **[(O\ PIK_ /S&??E%
M? ?_  \E_9'_ .BE:A_X0?CO_P"9JC_AY+^R/_T4K4/_  @_'?\ \S5'M:7_
M #\C]Z#_ (B3P'_T5V1?^%-?_P"8S[\HKX#_ .'DO[(__12M0_\ "#\=_P#S
M-4?\/)?V1_\ HI6H?^$'X[_^9JCVM+_GY'[T'_$2> _^BNR+_P *:_\ \QGW
MY17P'_P\E_9'_P"BE:A_X0?CO_YFJ/\ AY+^R/\ ]%*U#_P@_'?_ ,S5'M:7
M_/R/WH/^(D\!_P#179%_X4U__F,^_**^ _\ AY+^R/\ ]%*U#_P@_'?_ ,S5
M'_#R7]D?_HI6H?\ A!^._P#YFJ/:TO\ GY'[T'_$2> _^BNR+_PIK_\ S&??
ME%? ?_#R7]D?_HI6H?\ A!^._P#YFJ/^'DO[(_\ T4K4/_"#\=__ #-4>UI?
M\_(_>@_XB3P'_P!%=D7_ (4U_P#YC/ORBO@/_AY+^R/_ -%*U#_P@_'?_P S
M5'_#R7]D?_HI6H?^$'X[_P#F:H]K2_Y^1^]!_P 1)X#_ .BNR+_PIK__ #&?
M?E%? ?\ P\E_9'_Z*5J'_A!^._\ YFJ/^'DO[(__ $4K4/\ P@_'?_S-4>UI
M?\_(_>@_XB3P'_T5V1?^%-?_ .8S[\HKX#_X>2_LC_\ 12M0_P#"#\=__,U1
M_P /)?V1_P#HI6H?^$'X[_\ F:H]K2_Y^1^]!_Q$G@/_ **[(O\ PIK_ /S&
M??E%? ?_  \E_9'_ .BE:A_X0?CO_P"9JC_AY+^R/_T4K4/_  @_'?\ \S5'
MM:7_ #\C]Z#_ (B3P'_T5V1?^%-?_P"8S[\HKX#_ .'DO[(__12M0_\ "#\=
M_P#S-4?\/)?V1_\ HI6H?^$'X[_^9JCVM+_GY'[T'_$2> _^BNR+_P *:_\
M\QGWY17P'_P\E_9'_P"BE:A_X0?CO_YFJ/\ AY+^R/\ ]%*U#_P@_'?_ ,S5
M'M:7_/R/WH/^(D\!_P#179%_X4U__F,^_**^ _\ AY+^R/\ ]%*U#_P@_'?_
M ,S5'_#R7]D?_HI6H?\ A!^._P#YFJ/:TO\ GY'[T'_$2> _^BNR+_PIK_\
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M /S&??E%? ?_  \E_9'_ .BE:A_X0?CO_P"9JC_AY+^R/_T4K4/_  @_'?\
M\S5'M:7_ #\C]Z#_ (B3P'_T5V1?^%-?_P"8S[\HKX#_ .'DO[(__12M0_\
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M#\=__,U1_P /)?V1_P#HI6H?^$'X[_\ F:H]K2_Y^1^]!_Q$G@/_ **[(O\
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MR+_PIK__ #&??E%? ?\ P\E_9'_Z*5J'_A!^._\ YFJ/^'DO[(__ $4K4/\
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M#_P@_'?_ ,S5'M:7_/R/WH/^(D\!_P#179%_X4U__F,^_**^ _\ AY+^R/\
M]%*U#_P@_'?_ ,S5'_#R7]D?_HI6H?\ A!^._P#YFJ/:TO\ GY'[T'_$2> _
M^BNR+_PIK_\ S&??E%? ?_#R7]D?_HI6H?\ A!^._P#YFJ/^'DO[(_\ T4K4
M/_"#\=__ #-4>UI?\_(_>@_XB3P'_P!%=D7_ (4U_P#YC/ORBO@/_AY+^R/_
M -%*U#_P@_'?_P S5'_#R7]D?_HI6H?^$'X[_P#F:H]K2_Y^1^]!_P 1)X#_
.. .BNR+_PIK__ #&?_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>9
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.24.0.1</span><table class="report" border="0" cellspacing="2" id="idm140384433556208">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Mar. 05, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Mar.  05,  2024<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-2402<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">HORMEL FOODS CORPORATION<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000048465<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">41-0319970<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">1 Hormel Place<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Austin<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">MN<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">55912<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">507<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">437-5611<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock $0.01465 par value<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">HRL<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>11
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
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M=]W3CHG&K=!X#;[Q3X?#KHG&J]!TZVDF)_VN:Z3I%FA"1N/K>A(5M>5 TR
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M!Z.:60F]A%9JGZJ'-#ZH'C(*!?&Y'C[E>G@*-Y;&O%"N@GL!_]':-\*K^(+
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MU4#E/]O4#6CV#30<D05>,9FV-J/D3@H\W/[O#;#"Q([A[8N_ 5!+ P04
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M1S &P %#TG1X#SY['R73>RHY_U=3_ 102P,$%     @ [X%H6)>*NQS
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M7F=Z_S!YU!Y:YU;*O8=7LN48<?R>Y0]02P,$%     @ [X%H6"0>FZ*M
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M8U!R;W!S+V%P<"YX;6Q02P$"% ,4    " #O@6A8,]N?.N\    K @  $0
M            @ &O    9&]C4')O<',O8V]R92YX;6Q02P$"% ,4    " #O
M@6A8F5R<(Q &  "<)P  $P              @ '- 0  >&PO=&AE;64O=&AE
M;64Q+GAM;%!+ 0(4 Q0    ( .^!:%B*?O'^0@0  &L0   8
M  " @0X(  !X;"]W;W)K<VAE971S+W-H965T,2YX;6Q02P$"% ,4    " #O
M@6A8GZ ;\+$"  #B#   #0              @ &&#   >&PO<W1Y;&5S+GAM
M;%!+ 0(4 Q0    ( .^!:%B7BKL<P    !,"   +              "  6(/
M  !?<F5L<R\N<F5L<U!+ 0(4 Q0    ( .^!:%BJQ"(6,P$  "("   /
M          "  4L0  !X;"]W;W)K8F]O:RYX;6Q02P$"% ,4    " #O@6A8
M)!Z;HJT   #X 0  &@              @ &K$0  >&PO7W)E;',O=V]R:V)O
M;VLN>&UL+G)E;'-02P$"% ,4    " #O@6A899!YDAD!  #/ P  $P
M        @ &0$@  6T-O;G1E;G1?5'EP97-=+GAM;%!+!08     "0 ) #X"
(  #:$P     !

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>12
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>13
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>15
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.24.0.1</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>1</ContextCount>
  <ElementCount>22</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>0</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>3</UnitCount>
  <MyReports>
    <Report instance="tm247685d6_8k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>00000001 - Document - Cover</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://hormel.com/role/Cover</Role>
      <ShortName>Cover</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File>hrl-20240305.xsd</File>
    <File>hrl-20240305_lab.xml</File>
    <File>hrl-20240305_pre.xml</File>
    <File doctype="8-K" isOnlyDei="true" isUsgaap="true" original="tm247685d6_8k.htm">tm247685d6_8k.htm</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy items="22">http://xbrl.sec.gov/dei/2023</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>false</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>JSON
<SEQUENCE>17
<FILENAME>MetaLinks.json
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
{
 "version": "2.2",
 "instance": {
  "tm247685d6_8k.htm": {
   "nsprefix": "hrl",
   "nsuri": "http://hormel.com/20240305",
   "dts": {
    "schema": {
     "local": [
      "hrl-20240305.xsd"
     ],
     "remote": [
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://www.xbrl.org/2006/ref-2006-02-27.xsd",
      "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd",
      "https://www.xbrl.org/2020/extensible-enumerations-2.0.xsd",
      "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd",
      "https://www.xbrl.org/dtr/type/2022-03-31/types.xsd",
      "https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd",
      "https://xbrl.fasb.org/srt/2023/elts/srt-roles-2023.xsd",
      "https://xbrl.fasb.org/srt/2023/elts/srt-types-2023.xsd",
      "https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd",
      "https://xbrl.fasb.org/us-gaap/2023/elts/us-roles-2023.xsd",
      "https://xbrl.fasb.org/us-gaap/2023/elts/us-types-2023.xsd",
      "https://xbrl.sec.gov/country/2023/country-2023.xsd",
      "https://xbrl.sec.gov/dei/2023/dei-2023.xsd"
     ]
    },
    "labelLink": {
     "local": [
      "hrl-20240305_lab.xml"
     ]
    },
    "presentationLink": {
     "local": [
      "hrl-20240305_pre.xml"
     ]
    },
    "inline": {
     "local": [
      "tm247685d6_8k.htm"
     ]
    }
   },
   "keyStandard": 22,
   "keyCustom": 0,
   "axisStandard": 0,
   "axisCustom": 0,
   "memberStandard": 0,
   "memberCustom": 0,
   "hidden": {
    "total": 2,
    "http://xbrl.sec.gov/dei/2023": 2
   },
   "contextCount": 1,
   "entityCount": 1,
   "segmentCount": 0,
   "elementCount": 59,
   "unitCount": 3,
   "baseTaxonomies": {
    "http://xbrl.sec.gov/dei/2023": 22
   },
   "report": {
    "R1": {
     "role": "http://hormel.com/role/Cover",
     "longName": "00000001 - Document - Cover",
     "shortName": "Cover",
     "isDefault": "true",
     "groupType": "document",
     "subGroupType": "",
     "menuCat": "Cover",
     "order": "1",
     "firstAnchor": {
      "contextRef": "AsOf2024-03-05",
      "name": "dei:DocumentType",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "b",
       "p",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "tm247685d6_8k.htm",
      "first": true,
      "unique": true
     },
     "uniqueAnchor": {
      "contextRef": "AsOf2024-03-05",
      "name": "dei:DocumentType",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "b",
       "p",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "tm247685d6_8k.htm",
      "first": true,
      "unique": true
     }
    }
   },
   "tag": {
    "dei_AmendmentDescription": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "AmendmentDescription",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amendment Description",
        "documentation": "Description of changes contained within amended document."
       }
      }
     },
     "auth_ref": []
    },
    "dei_AmendmentFlag": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "AmendmentFlag",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amendment Flag",
        "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission."
       }
      }
     },
     "auth_ref": []
    },
    "dei_AnnualInformationForm": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "AnnualInformationForm",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Annual Information Form",
        "documentation": "Boolean flag with value true on a form if it is an annual report containing an annual information form."
       }
      }
     },
     "auth_ref": [
      "r14"
     ]
    },
    "dei_AuditedAnnualFinancialStatements": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "AuditedAnnualFinancialStatements",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Audited Annual Financial Statements",
        "documentation": "Boolean flag with value true on a form if it is an annual report containing audited financial statements."
       }
      }
     },
     "auth_ref": [
      "r14"
     ]
    },
    "dei_CityAreaCode": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "CityAreaCode",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "City Area Code",
        "documentation": "Area code of city"
       }
      }
     },
     "auth_ref": []
    },
    "dei_CountryRegion": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "CountryRegion",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Country Region",
        "documentation": "Region code of country"
       }
      }
     },
     "auth_ref": []
    },
    "dei_CoverAbstract": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "CoverAbstract",
     "lang": {
      "en-us": {
       "role": {
        "label": "Cover [Abstract]",
        "documentation": "Cover page."
       }
      }
     },
     "auth_ref": []
    },
    "dei_CurrentFiscalYearEndDate": {
     "xbrltype": "gMonthDayItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "CurrentFiscalYearEndDate",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Current Fiscal Year End Date",
        "documentation": "End date of current fiscal year in the format --MM-DD."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentAccountingStandard": {
     "xbrltype": "accountingStandardItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentAccountingStandard",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Accounting Standard",
        "documentation": "The basis of accounting the registrant has used to prepare the financial statements included in this filing This can either be 'U.S. GAAP', 'International Financial Reporting Standards', or 'Other'."
       }
      }
     },
     "auth_ref": [
      "r13"
     ]
    },
    "dei_DocumentAnnualReport": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentAnnualReport",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Annual Report",
        "documentation": "Boolean flag that is true only for a form used as an annual report."
       }
      }
     },
     "auth_ref": [
      "r11",
      "r13",
      "r14"
     ]
    },
    "dei_DocumentFiscalPeriodFocus": {
     "xbrltype": "fiscalPeriodItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentFiscalPeriodFocus",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Fiscal Period Focus",
        "documentation": "Fiscal period values are FY, Q1, Q2, and Q3.  1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentFiscalYearFocus": {
     "xbrltype": "gYearItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentFiscalYearFocus",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Fiscal Year Focus",
        "documentation": "This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentPeriodEndDate": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentPeriodEndDate",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Period End Date",
        "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentPeriodStartDate": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentPeriodStartDate",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Period Start Date",
        "documentation": "The start date of the period covered in the document, in YYYY-MM-DD format."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentQuarterlyReport": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentQuarterlyReport",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Quarterly Report",
        "documentation": "Boolean flag that is true only for a form used as an quarterly report."
       }
      }
     },
     "auth_ref": [
      "r12"
     ]
    },
    "dei_DocumentRegistrationStatement": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentRegistrationStatement",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Registration Statement",
        "documentation": "Boolean flag that is true only for a form used as a registration statement."
       }
      }
     },
     "auth_ref": [
      "r0"
     ]
    },
    "dei_DocumentShellCompanyEventDate": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentShellCompanyEventDate",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Shell Company Event Date",
        "documentation": "Date of event requiring a shell company report."
       }
      }
     },
     "auth_ref": [
      "r13"
     ]
    },
    "dei_DocumentShellCompanyReport": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentShellCompanyReport",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Shell Company Report",
        "documentation": "Boolean flag that is true for a Shell Company Report pursuant to section 13 or 15(d) of the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r13"
     ]
    },
    "dei_DocumentTransitionReport": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentTransitionReport",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Transition Report",
        "documentation": "Boolean flag that is true only for a form used as a transition report."
       }
      }
     },
     "auth_ref": [
      "r15"
     ]
    },
    "dei_DocumentType": {
     "xbrltype": "submissionTypeItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentType",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Type",
        "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentsIncorporatedByReferenceTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentsIncorporatedByReferenceTextBlock",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Documents Incorporated by Reference [Text Block]",
        "documentation": "Documents incorporated by reference."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "dei_EntityAddressAddressLine1": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressAddressLine1",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Address Line One",
        "documentation": "Address Line 1 such as Attn, Building Name, Street Name"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressAddressLine2": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressAddressLine2",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Address Line Two",
        "documentation": "Address Line 2 such as Street or Suite number"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressAddressLine3": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressAddressLine3",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Address Line Three",
        "documentation": "Address Line 3 such as an Office Park"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressCityOrTown": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressCityOrTown",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, City or Town",
        "documentation": "Name of the City or Town"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressCountry": {
     "xbrltype": "countryCodeItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressCountry",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Country",
        "documentation": "ISO 3166-1 alpha-2 country code."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressPostalZipCode": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressPostalZipCode",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Postal Zip Code",
        "documentation": "Code for the postal or zip code"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressStateOrProvince": {
     "xbrltype": "stateOrProvinceItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressStateOrProvince",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, State or Province",
        "documentation": "Name of the state or province."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityBankruptcyProceedingsReportingCurrent": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityBankruptcyProceedingsReportingCurrent",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Bankruptcy Proceedings, Reporting Current",
        "documentation": "For registrants involved in bankruptcy proceedings during the preceding five years, the value Yes indicates that the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court; the value No indicates the registrant has not.  Registrants not involved in bankruptcy proceedings during the preceding five years should not report this element."
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    },
    "dei_EntityCentralIndexKey": {
     "xbrltype": "centralIndexKeyItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityCentralIndexKey",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Central Index Key",
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityCommonStockSharesOutstanding": {
     "xbrltype": "sharesItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityCommonStockSharesOutstanding",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Common Stock, Shares Outstanding",
        "documentation": "Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityCurrentReportingStatus": {
     "xbrltype": "yesNoItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityCurrentReportingStatus",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Current Reporting Status",
        "documentation": "Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityEmergingGrowthCompany": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityEmergingGrowthCompany",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Emerging Growth Company",
        "documentation": "Indicate if registrant meets the emerging growth company criteria."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityExTransitionPeriod": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityExTransitionPeriod",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Elected Not To Use the Extended Transition Period",
        "documentation": "Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards."
       }
      }
     },
     "auth_ref": [
      "r19"
     ]
    },
    "dei_EntityFileNumber": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityFileNumber",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity File Number",
        "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityFilerCategory": {
     "xbrltype": "filerCategoryItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityFilerCategory",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Filer Category",
        "documentation": "Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityIncorporationStateCountryCode": {
     "xbrltype": "edgarStateCountryItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityIncorporationStateCountryCode",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Incorporation, State or Country Code",
        "documentation": "Two-character EDGAR code representing the state or country of incorporation."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityInteractiveDataCurrent": {
     "xbrltype": "yesNoItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityInteractiveDataCurrent",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Interactive Data Current",
        "documentation": "Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files)."
       }
      }
     },
     "auth_ref": [
      "r16"
     ]
    },
    "dei_EntityPrimarySicNumber": {
     "xbrltype": "sicNumberItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityPrimarySicNumber",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Primary SIC Number",
        "documentation": "Primary Standard Industrial Classification (SIC) Number for the Entity."
       }
      }
     },
     "auth_ref": [
      "r14"
     ]
    },
    "dei_EntityPublicFloat": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityPublicFloat",
     "crdr": "credit",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Public Float",
        "documentation": "The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityRegistrantName": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityRegistrantName",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Registrant Name",
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityShellCompany": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityShellCompany",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Shell Company",
        "documentation": "Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntitySmallBusiness": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntitySmallBusiness",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Small Business",
        "documentation": "Indicates that the company is a Smaller Reporting Company (SRC)."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityTaxIdentificationNumber": {
     "xbrltype": "employerIdItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityTaxIdentificationNumber",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Tax Identification Number",
        "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityVoluntaryFilers": {
     "xbrltype": "yesNoItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityVoluntaryFilers",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Voluntary Filers",
        "documentation": "Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityWellKnownSeasonedIssuer": {
     "xbrltype": "yesNoItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityWellKnownSeasonedIssuer",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Well-known Seasoned Issuer",
        "documentation": "Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A."
       }
      }
     },
     "auth_ref": [
      "r17"
     ]
    },
    "dei_Extension": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "Extension",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Extension",
        "documentation": "Extension number for local phone number."
       }
      }
     },
     "auth_ref": []
    },
    "dei_LocalPhoneNumber": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "LocalPhoneNumber",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Local Phone Number",
        "documentation": "Local phone number for entity."
       }
      }
     },
     "auth_ref": []
    },
    "dei_NoTradingSymbolFlag": {
     "xbrltype": "trueItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "NoTradingSymbolFlag",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "No Trading Symbol Flag",
        "documentation": "Boolean flag that is true only for a security having no trading symbol."
       }
      }
     },
     "auth_ref": []
    },
    "dei_OtherReportingStandardItemNumber": {
     "xbrltype": "otherReportingStandardItemNumberItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "OtherReportingStandardItemNumber",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Other Reporting Standard Item Number",
        "documentation": "\"Item 17\" or \"Item 18\" specified when the basis of accounting is neither US GAAP nor IFRS."
       }
      }
     },
     "auth_ref": [
      "r13"
     ]
    },
    "dei_PreCommencementIssuerTenderOffer": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "PreCommencementIssuerTenderOffer",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Pre-commencement Issuer Tender Offer",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r7"
     ]
    },
    "dei_PreCommencementTenderOffer": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "PreCommencementTenderOffer",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Pre-commencement Tender Offer",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r8"
     ]
    },
    "dei_Security12bTitle": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "Security12bTitle",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Title of 12(b) Security",
        "documentation": "Title of a 12(b) registered security."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "dei_Security12gTitle": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "Security12gTitle",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Title of 12(g) Security",
        "documentation": "Title of a 12(g) registered security."
       }
      }
     },
     "auth_ref": [
      "r5"
     ]
    },
    "dei_SecurityExchangeName": {
     "xbrltype": "edgarExchangeCodeItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "SecurityExchangeName",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Security Exchange Name",
        "documentation": "Name of the Exchange on which a security is registered."
       }
      }
     },
     "auth_ref": [
      "r4"
     ]
    },
    "dei_SecurityReportingObligation": {
     "xbrltype": "securityReportingObligationItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "SecurityReportingObligation",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Security Reporting Obligation",
        "documentation": "15(d), indicating whether the security has a reporting obligation under that section of the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r9"
     ]
    },
    "dei_SolicitingMaterial": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "SolicitingMaterial",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Soliciting Material",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r10"
     ]
    },
    "dei_TradingSymbol": {
     "xbrltype": "tradingSymbolItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "TradingSymbol",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Trading Symbol",
        "documentation": "Trading symbol of an instrument as listed on an exchange."
       }
      }
     },
     "auth_ref": []
    },
    "dei_WrittenCommunications": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "WrittenCommunications",
     "presentation": [
      "http://hormel.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Written Communications",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act."
       }
      }
     },
     "auth_ref": [
      "r18"
     ]
    }
   }
  }
 },
 "std_ref": {
  "r0": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12"
  },
  "r1": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b"
  },
  "r2": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r3": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b-23"
  },
  "r4": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "d1-1"
  },
  "r5": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "g"
  },
  "r6": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12, 13, 15d"
  },
  "r7": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "13e",
   "Subsection": "4c"
  },
  "r8": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "14d",
   "Subsection": "2b"
  },
  "r9": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "15",
   "Subsection": "d"
  },
  "r10": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Section": "14a",
   "Number": "240",
   "Subsection": "12"
  },
  "r11": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 10-K",
   "Number": "249",
   "Section": "310"
  },
  "r12": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 10-Q",
   "Number": "240",
   "Section": "308",
   "Subsection": "a"
  },
  "r13": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 20-F",
   "Number": "249",
   "Section": "220",
   "Subsection": "f"
  },
  "r14": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 40-F",
   "Number": "249",
   "Section": "240",
   "Subsection": "f"
  },
  "r15": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Forms 10-K, 10-Q, 20-F",
   "Number": "240",
   "Section": "13",
   "Subsection": "a-1"
  },
  "r16": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-T",
   "Number": "232",
   "Section": "405"
  },
  "r17": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "405"
  },
  "r18": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "425"
  },
  "r19": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "7A",
   "Section": "B",
   "Subsection": "2"
  }
 }
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>18
<FILENAME>0001104659-24-032398-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001104659-24-032398-xbrl.zip
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M=R L18!F)@_Q"LR_"!;#<*DI_<#2LFI'I9(%"(KIK0\3I?<"R6PK1,,U/./
M4F<W97O,5O=G 5T0H/28:]VU+>0-4#S-0)<L2[*]>I[N9KM9$6%I7%OBB@W(
MG&;"+ ^"!<"4R4 A0TJ'"J&7GM=W"5BF'F($FV/*W!)@-]FDH*D)B 2K,8"&
M@S9_IM0+$3,Y,@E,YRPFNY_)'FQ72^>6"<!F$PI#%! 5=F< %J48Y6HDY5[
MN!/)!HO](HEZIHJVT"T:D-$F&Z8J(#@ :P =I1HMYC.?,\D2[^:Q!#5Y2(KG
MP7LH ?5N8>FQW60&$ >$3K=#@" 9A)I1/D&:LXB+9UY[W&'&MW( W,]X#*]0
M>J+<0C6H"4VT.D," FR(3P"S1NB'XID4Q-5[/'D%2-7@A;B+.)8'*BW_N4X8
M.0;;;]6ZI:O#;I,IBS @DF!W #^E\H/^@%0,NF6A0#-]0U.G_J&9#H5F&C0T
MT_= LWSE@4!S\H:FGOB'YF0H-"=!0W/R+FADQWL=:V;RXZU8\E?;P]F@T@LR
M;:M68 ZR\'!I>>N#106H]8P*\8E)OK"Z%7>"OR0L@I?,D-P+,(!I*S6&-CQT
M[ ;[^*D6Q#K.ZUA3+,I[OR1:YF>4:9JT#S&%)CQ(FL9Z!Y="[1.).YYFF/X[
M>>X\$;>+O>!A-6R%I*$,#Q6;O3Y@BA@D@WR<6)>XJAL:UE?)C')WKP!;;!U>
M :X5!@&!S5'[%>#BZDDA<MW-BE%!,# B-(N==;+%5-7'M;(PNKAMJ-7#^?=:
M:GQ\D55V%WKWR!G\@$!;XJJG(7.ZM\WR('H<,&7V>BY#N<[3U7B582*U#]^U
M,F<SNVFGFLAU01"]:[II3=.ZW'%O_B:23.YYQC>;+2OO\MB>&P1TKGJYTZ;N
M<:LHB-[O<F:24&I14^P8BP6G291D"5O_(D\^18)MK;*)7 $!&]0TM!5!H #:
M,CDX")%6.H;@3A %(9$=D;\$J!(+B=N'!^MLWR5V!46_80T'K P"DEY[)BPR
M8!S5(E 1@O(8O]C,TW1+Q)O@L81X0@@T#X#4TH>($V2R%ZHBT"=;"Q)MY?RX
M/YZNEDE&;2>7;8FS.0DP5\U(1GD0; "F3!;R,L0?T/'TKZN_(1WEN/MO^%)@
ME3QVL=^L. 6R3UE5KB#HL*@YL$B"0 'V9=)PPU$I18761W:JAEE+<XQR5P!8
M;>FN;Q0&T>DV1ZTO?Z.O/0WYE[OH49HBP L)=IGKH=]FTAS^ZYH@$.@PUCHI
M*:5(:WV\D'"8LM;]BX"UMT7 NF<1L YQ$; >N@A8>UL$Z-T6*4+DN'2[HLD:
M \D).]6NH>BP;/)AD0:%"NP/'#.J$'2(<9W1,D]QIM+SBTV^_ROYP=)*0.<L
MIV67S2JII4T4!"-=SEII+8ND<S4Q4FK77&SC)"-Q8>8J89A%":95>D3;%?'^
M$&>T##1?@=.C#X.A829;.!5A.I=A%7A(=>GZ4GKQ ,9OA-*?&7]E"X)3SDA<
M7$NQW2GJUKM]8J;'=O.A&4 <!$Y#' */SJB@\9.*0CJLO!+FA:1OG&Y9AD7^
M+KFPC4R SBTY@,TF,88H(%+LS@!"*C$JU'Y>T"ZR1U2+K.)WA\ &0G+'KVMW
MFC;>VK9J V*FTR#T#G>9\^.P-BZB/+UBF1'U>Q')"_F",UQZ ]L+R5V_5-EE
MVGR;TJ8-"*%.@^#[DU6,2A6#-5/>4L:(F5QJK7G'4^*&RGWBF);%=NZ82A(0
M'C9?'1ED!-):+RPL-IC2S]LT822%)R)#Y98%J\4F"PU)0"S8? $LY%*DM5Y8
MN-P0L9;3VT^"OV:/97Y6L&V VBT;G9:;C%BE ;'2Y0]@1H>@(D:GU/4#S^Z0
M4+S(L@BWU")UC UHUF"FI0L)&,A<BQ9*(G6]Y89G:,G1UY2@[)&@R_)GZ.J9
MX(MZ?/W22!2I%R**53F+L; AU"5V_JLCH.'6;X^TE$& U&L/_AV2*@+I$,?4
MW$J&1?T\+C<QS\@&?-NA/\0504/-:X[Z]$'0--"DR50>UCRYS@.1BO29S:B>
MW!Y>XC5$CE?&%H/&PKBF"((1T!:T+*[_5H"?W'G;%4VB*\HQ?)6EH7&<,:]M
MSTB6=Q $1$#;%90B+Q>B7.FE_S]C]B2VSUFTOQ,\(D0]9956HU7?];>!T6Z9
M>5.3FC0-"@V(L[?X!0@\5(%J=7RHS5@^+^:IA\95-C<>/2T>L3R M]LL53.H
M- 9?!>\,<GQ[84 #C)L,'1$!H3? )G3#(8]$>>@'5 2C6K2G\[/TD 60Q)_W
M]^2!"/7>P9+LLL]R1T\=9Q@#8EV?O0UNCGDRUQL8!(1O=0N=ZJ6H7@%:J6?$
MRBK0[ZH2E-=B^_WR^J9K^4ENUIOD7RN<$KGEOU!+ P04    " #O@6A8^C/I
M4E0'  #05P  %    &AR;"TR,#(T,#,P-5]P<F4N>&ULS9S+<MLV%(;WG>D[
ML.I:]Z:M';L96[$RFCBQ:SE)VTT&(B$)8Q#0 * EO7T!4E)T(<#C#8^]L&7J
MQ^7_#@GRD  OWJU2'CU3I9D4EXUNJ].(J(AEPL3LLO%EW+P:#T:C1J0-$0GA
M4M#+AI"-=W_]_%-D?RY^:3:C(:,\.8_>R[@Y$E/Y-OI,4GH>?:""*F*D>AM]
M)3QS6^20<:JB@4P7G!IJOR@:/H_>M'K=2=1L NK]2D4BU9>'T:[>N3$+?=YN
M+Y?+EI#/9"G5DV[%,H55.#;$9'I76V?5V?P4Q2\X$T_G[M>$:!I97D*?KS2[
M;+AV-\TN^RVI9NU>I]-M__/I=AS/:4J:3#AN,6UL2[E:RLIUS\[.VOFW6^F)
M<C51?-M&O[WMSJYF^RT+Z/=ZHMFYSKMW*V-B\K!7-A-Y%>Z_YE;6=)N:W5ZS
MWVVM=-+8PL\)*LGI YU&[J^-WJ[5N50IY2Y<;?=5>R#M[FC[F1>:*SJU2MM&
MK]/[K=/OO'$5_WJ@,>N%W2LU<SM5(VH?-+I05%-A<I^W=L-!$;HR=E^BR;8B
MUSRL6X89)]WL)]VHZ7:J++4MV8^%<M.-;4>XC _:Y@Z^//:YV9%SQ)K&K9E\
M;B>46=2]OOO@*/1S O:?[WE#5Q-M%(G-MB9.)I3G]7^WFB-)NX9>;4D\VAK+
M.W6H..[3?LBN5!Q)E5!E66_K(BH^"-3I/KE1M!=$V8J:\9SQ78RG2J8^.AL2
MTM/1?5"VB7IH7MGV$]>'(2>S<IQ'$B#/+@;04C=81-]3'2NV<%PJP!XH@7Q[
MJ'Q+O-6,>7OL/- 9<_UU77%G6NHVAL<%3Q$@^#[F2!%TBQ2!*R$RPA_H0JH*
M\(=*(._?,'F7>4/"_'=&E*&*KR&D3\1 V&\P87L<(O%^5$1HYOA @)^J@<1_
M1[WP\'A$0CZ>4\Y=]D8$:"\OTP.Q_X&)W>_S%8"_>7;G=WMJ@;/?*P+$_^=K
MP7_B%BD"]U0QF=A3N@*P/Q$#J9]A4O<X1.5](Q(H[9T4G/_@PSZRAX1ZR'1,
M>-&CH=VFP[A+Y%#D*#EGI4U4[/]2HL#0]\10Y"AI:(7%FH$/,J4..A,<5?QJ
M*'*4!+3*9,W,;X1A9NUN]W_.TLF/&Z>'K$]54,8H2:?/% K;[9T&8=Q3C!#?
M8R64,4JN&3*'PGE@_2C"1R*AJX]T'0)](H621LDQ@_904-\KEA*U'K.X>M X
MU4)AHV2688,HM!_):I185VS*BN> U="]1:#L4=)*D%V4$(Q$+-5"[MTN'LC,
M'H_K@4R"0WI%06@X4/+-%UA'"<I5DEA<>O/GE@G:#86B5 Y^1H07@(#-5X*]
M]S+L/3AVE#RTTN8KP=Y_&?8^'#M*+EII$Q/[P'Z\4X]RZ7D"[15#D:/DHA46
M,8'G9YH[=:_D,RNF0U51/RD!18^8HH;-HN[PQ4D>LK=OE5#>B.EJN3E,SO=2
M&\+_8XNJ*\ER/90Y8N(:,EKW#<8B[NZFA6\JT9$$RA<E5RVU4S=2%V%%B7_W
M/51 @:(DH&5F:N9Y*]VSC[D4P?NQIRHH5Y1,TF>J[H'732/6WD-_[VOP##:4
M8?781LT8OREF; \&,DTSL;E'XWDJYI%"\:*D?T%[-:,>2\YB9IB8?;)7B(H1
M7LZY3 >%C)+L^8W53/A>41=I:B^[\WE<;IV!NIM.?2-O2 \ECI+K51O%)3_2
M.J/JI?Q+2D&C@)+V04W7/<[0.+/#WKK;FSRZ%3.>4>9$!66-DO+Y3-7,]K-\
M5,0MTQNOTXGD_N4AI4(H890$+V"M9L@'_2C'>R2!@D7)[$KM((T)-ZMX3L2,
M^F<OE"NA@%$RO9 YM+%W!AI[9R\<>U$R/I\I)+;%W'![1-U-.)L1_TJR8 'P
M.AM,X@&K=:_?RY?\N 7<*LW[,;0?RK%[I%#@.$LD0_;J1ITES-"DZ-*0"2)B
MFU+MUK5YLO/J4M  X*RA!)I&N;W_C7+^4<BE&%.BI:!)<:D?NL/O+0*- N(S
MQ J[*"'X*GEF*:E\(JCR' ,>*10YXK-#CSV<N9?%I.;=N:=X4T>(N*\$%#SB
M0\2P6:3Y:8:Z/K-G^IX8LNEAB+^O!)0_X@/%L%FT^?-J8$\\,QE^9GXDA-)&
MG I;:@T%\C@EG%]GF@FJ@V/+D1 *&7'.:ZDU%,@W*54S.ZA]4')IYINUG2'8
MG@)0Z(@S6X-6<>"O?JPC+]:_!<F7J,%O)T#$[C6)]=J-.'83*8HSN4B(\E /
MZ:'<41=6^HW63/[.S*G:OW[*.S.R>5MHTD-U*6@44-)5J&F<<^O>2O[@J?5
M!^6-F)B6&<-9,Y5-.(N'7)+@=?F!#,H7,0LML86"]YJ()Y4M3+R^5S*FU#T^
MT;NC#9 0 2N A@0Q/WT1"IS;!3)-W6(B&3^-Y]:TOLM,_N)2V[_@38-@.6AH
M,!=Q HPC707I'PN]:'*]?J!3JMPTA4>Z,M>VH:?P11&@.#0^J&\4 F,H"=-%
M^\37K=W@7DU;?.-^N=>OVBW_ U!+ P04    " #O@6A8S#K(8*X8   ^D0
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MT3[J*!.@^/('UW&8CU: /T&KJW@ =&REX:/H%CU$,[SNHH:4JO42F [Q89)
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M3/WOB8:UR H#BIN\ [YEHG%XP "PDGM*WV 9E$P$/@^HB&8%MHDM$3QP"4%
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MY=GIJYEK05*CD_.V*[Z0N2S%;6VES"8*,I_!E8M[=W?5XCZ9G#;.M?SE->^
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M<&_Q_;K& ;E6MS?VR07>$EB3)-&K?55.BZ32X<X8/YG;CP;>T?\#4$L#!!0
M   ( .^!:%B(3M8>QWT   <K P 4    =&TR-#<V.#5D-E]E>#$M,2YH=&WL
MO>ERVUJ6+OB?$7P'M&]5AM0-R1HL#T<N1VBPSU&6I[;D/)5]X_X 29#"$0@P
M,4AF/GVO:4\8.,B43,O*K$K;)+BQA[77O+[U^H^+#^_?=#NO_WA[= I_>OB?
MUQ=G%^_?OGG]E/^$;Y_*UZ^//YW^TSN_^.?[M__U9)@FQ6_>[LZD\"ZB<9A[
M'\,;[TLZ#A*?/_"]\S"+AD_@A_#3S^IWXR ;1<E6D4Y^\W8./?EG+RV*= R?
M/'GSMZ273PY?/_U<^6$1?BNV@C@:);]Y632Z+/2/V\=Z??SF[;?+J!<5WN[V
M[NNGQV_JX\X9Y-"KO9C&5=-L&G+1O:FL8%+47X^?-4_@]1FL+>R7190FWC_"
M+(<_7S\]>W,/4U+O5WOP_2^UE]@/DR+,%IS('Y^^?'C[WGOWZ=/IN7?RZ<OG
M3U^.+LX^?;SS'6@CTWM8\W\<[.SX._S_WNMWGSY>V"_?RJ-_ASR#)V^>;;_<
MV7G]%)]Y\Y_=SL>T@!D-RM#;V]E[\9#WZ/77-U^309C=9%$1)2/O:)2%X1A&
M>/WTZ]U?C^]?^*T9PTQR^!!D_<MNYT HPD<R>/8P=N.AO>8X'1[!#_HE$C#^
M^"SI;]_Y6_^^_7G;^Y!FHR"Q7NZ]?W]RYZ_^NGV^[1T'23_-)K#8ZS O\+[>
MU\K_#.,X]][!-ZFS[?>Q]'LBJ:/<^Q).LC"';0V*"';82X=><1EZ>7@=9D'L
M:98)ZD2W$T=Y$0Z\"$BA?QD.RCCT=KW+, N+]*%L2?]IZOV8F_8I";WC;!HD
MA?<YR*[N_'WXZW^FV97O??PGC+JS__PAG>$/Y%O[+_>]#\$@RD$-/[H.DS*\
M[[/<??'J89REJ]'\5>9%-)SR ;=*AV[G'JYKR\3V=I]Y'].LN/0NLBD<_WD!
M2F8!4]I[#I^]B],T^S$3.[D,LAB>"H%"3KR]EZ#F/0P*86+XD;+ZX&#'.T_+
MZIE[!Z_/OWY^4UR^?HI_WLOA/^!S;J'K]\!G8>0@&7B_P^V/T:+[[4&M. (-
M#$?=V3Z(DB=O_DBS<1A[[])TD'LGP/O2+$"'#_"8P#L-X^ FR$*O;[[P-E"?
M^]O_>KFWMW/X^OC-23J>!,D4_3/TX>[AIN]-LG22YC#A(O6B/"]#VM$<;A5^
M8BN$I:40>G5]L-M1"F'UO;8FZ;Y\F&;>S64Z]J9IZ>'L@SY9Z$'N917MM#)F
M17EUANUV'*_()(N2?C2!%03CM 0="Q3=J,B7\99XKK.D.AG#=^QY;'<[%_"8
MI8+<1+"KO9#W>>!-RBPO4>F3C3ZC\RYA&P8!;FY .OD1S#_V=M$^W]VMOEG_
MQ'XQO**X"<.$!I5#!QJ!8U62\\K[2!0">W*4YVD_8D+"-Q897+ PK+[H@C]V
MUO<@+]O^P?:K WSYA=D\HNO>%.Y6,HRR,9A#2#^!<B/!N8((:+.=\%?],$N0
MKO$9./7^99#+/0O D!+#RY9><!##-([3F_QAL31AXG$XK.W[R^T#VO?=[?K%
M' ;C*)[^-F\>M4O,2_N>_\60!_& +^$(6)XPUG-@.W3TVYY#)G!LP)8FP,D&
M=+S#*(:_:?*P6 %^^_8;$$(RHM^/@2<TLVSYQKYYW0[QXNJ81WWB;;NO]O>)
M@@*8X2 <^/0R?#8#-LVOSL)1&=-:M-UO3:) >N=7;/2!#,,^,MEXZGMM?*_;
M@9>[O!VLKZ"$XX>W]+W\,HR'^%:SA[G:0P_^\0YDFW>^M>]MO(,M W:[[>WO
M[V_M/7_Y_-4^# 8</"X'Z@IE(.R008+LRB<PN;(F'HZ#/.IW.Y_U ^[<:  :
MC3GO(.P5<'GU3L+'ADT/,Q!0!1 :/8U_ BNP6&N=!H(X3_GL?2_-NAU;QN+'
MOB$):]=M<? %'2S/]IYYK0<=V*O/R\DDYLW$CZ)AU _B>&JOL]MQ!^%9-Y^(
M33U>4-#K:>%1 ?O2AV^\<#ADJJB>392 4!^+/(F&0 9 -@-DE$;@P5S4$O=W
MCMO7R,< UZE01-I"0?8<1;KK"29A#APB0HUB&&9X,V%8)/ H :&8VR3=?,>%
M;+9!5'IE#K_G'_-E  X_5C\WU"8_\<9AD/ ;B" ]\P3NL#FU<-#M"%$M=ZK5
M78M8Z.,1 *5E><$SW@ ]:QP,0.9<!U$<]&#GRPFL,0O_58+UC'NFQ!(Z^VJ4
MN/MBO_64-O&E(.,2W&X8DTA;)"7O)(R.<BZO"SHF0G</PS@:1TF03>WK6]_0
MB7GP._>L2$<A<CQS*:N'!9K<%R2>$ 1Y+L>O!FJF&;]Q'&2*4\]:HDT0*6^N
M]4E^&;"^*-<'+S$1,;X;N3C?O)!96-HOR0N"GXH- +_I39GN<>K,UR.7TYS!
MA+W=/3P;S81;+^1&^$WNNK 3P\.'WEN0[5$OBJ-B2K/[?TN0]KC_3 3"Y"^V
M=C=]46UQ"'U/2>E5GS;OJMHC]61>8@2KOLN+[C KO/!1'_6Q<3"%S38DF2N:
M-#3E*SJ4;XA'6CR"M6S[2_6#P.$=3&I@P. \[H"2^'1FDI+72$DXJJ$D5E]<
M:==,'%J5,3K(,Y_8ZYTK(?:K'2LH+WLY\C>1-S;A%)<@#XZ,_GX9]2_)_C3;
M@_)_WD5Z(!;0$Q,$_[^VMKQW41@/?O,^!Z/P$$;!'>RC1NUM;4E>T.O3LW\T
MI<SL[C6\X#E^UDLS.$C]V7$<]*^\79A]GL;1 "902<&I+?_U4WAGP^M[61A<
M;?5"D'@PQPG-V9[2\X89X327?:6U,4]Q9W@S?O:3;W8T'1&CG6112OQAMI]D
M[[># Y#4VQ^V?4],)162\$Y0%*!2YGM\H?D"XN6!2[C1"Y722(K;S668M"D*
MW@W\1C0:5&0V:_X)&*';@=^=PP"NLF\SK\M@8"PTUI30RL9Y6(KK;(9S(5HF
MOLD[,[^RW_H;^N1:V#,[=Q9(SO#<W QFH6$ 7\ADAL# ME16RZ2F+&T$H,L-
MPF&45)Q-K'KO',S0Z<2_AW$LT.R^>4?*MQ>00R,OHJ+DUUK:>=O./! ^V>:Q
MV%LKCT7%;_%9N9OJ=TH$N^VLV@:BV73L6?)R-7J'JUKTC.P!\HNDU]& 7<:N
M^+7HVOJ59AD]4'UR8_\9MR]0(1C2098!52N7BO;)@<H3%F@'@9ZEC3V<>MG[
MR]*Y@)0'$6L@U>=]6;JOUA2S6INDA?=7&B4%<8;4^//83V!M'4^8+B7JM]H/
M#3/1CFAK!\T$TLDDS6$32,&U-P5O]NZ+P]Q+T 9O2L;PT19&WT $:@K([B">
MS\)?O0)"WC>9@;+737[SJI]R$J,IV^]G)9TL3!',26/WTY8LPNE>.IQ.NRM.
M8M@'8#*G*#: G7F*F_5"X-J;KN>%O.MX.J"ZI3TP1HC/PNH'P(;A!$FYK=\"
M,&E"8 ]D#T^"*2F$&)<(F,:[G?.J7TB=.'GH-5VO3"4D7C,K^WG%3$T^0Y^L
MJ #-:L%&;W.=^)SF<!=5XR0OX)ZB82=N(<<;CT2:$%F,@ZL0KTH)M-('P@#E
M'FFM3B'HJDF!.H)A(=+2<2[)A7$LBD"[8OXJ!R-E(;.5Y\:UX&?!X#K*T2GC
MBRT&KR5V Y.D:54G))R1C53--KH=>:7EN'!9>?\J26_ I!O9W+)MH] <YK=K
MEN_>!#*GL[0<7=+-"H9@+D9PYV@_@L0>38P_9$WP)'$U_?B<%YG+!N(J*AI>
M;+WG(=^^_GK>OL\VRX3S$V;;Q&E5^),]D4QR</!1GS7^TP"N@?<YC:^\OP7C
MR:'W9Y -;I <WK__['O/#G:\]^$WN**%SJ[RNQTK_TF9';L[.[LO\ 6[.[_M
M['A'9)NT&"7+"R=TZ>/@1,4I.0X+-C[ 9@*[-E37,T<9#1]:#Z+J[Y.,P@ &
MDG$@#MMH"'*_5X*T XX"STW9QT L1[NIJKQ#N534!8>;!+H%7FH69^AH8NM
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ML1P %C2B#3C #H_4.A.?H9EQ#O_B *G@^J4&A$1-J?9V)2+L5U X4GG_W)F
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MI*^\)*!-TL^YWCSW1]7O^NEDRE/#R$,?;FXHA3QH^FQASR:KR1J_+T<H%+G
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MM:S2L#C(VPC"KB%TU8S>R;Z?I*1S@IV#*^P+Q!(5'+YXX18<JAVQ["\!O[5
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M(>??Q]&53D%MZYZ^0)>9->:EJR+V)%DW8C^9]A!YE#,X#KL=U!I0@ JFYF)
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MZNGS#*6\<SX_KSVOUZ+GRC#1SKD:N-*J(""XJ?9]LV1$2C5X#YGMK!?2H-L
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M(@7#C?M+F'PVD)<51;*]%9,@RXD',@F8[U-.?#\=)83R;W>RDZFGV2A()#]
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MHT,WT.5RP0B,GQ$C.,E5;6MR[EVLA-!U)X3:$2-F<)14 <(0D!Q8*O*0@I'
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M?S0]D]LU2/,>9G^TA5CV[L[:\6SATJ<A^;[Q1EH&Y#8%1L^PG+2IU4FU@'S
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MJ2_1B'HB$"7'L7FJ2$><[Z81C(%[%4C.6'JI0D$$KQH19:HX%]#N#1!GKGP
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M?)N6?:84>K@9*16KYRXKQ)J,XM*;IJ4XU%0G2]^;Q"%B5T0JXY:>P8:\D\+
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MY<DN&7Y%X]@0K&]5[M!5*U+-%J1O($J';$]&PJSKH1B@9$KB_=#&V.:LC*I
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MS&^6N>NG[OG)AS>?7^'%+Q_?OX.+?P%02P,$%     @ [X%H6$17.!S0,P
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M 2Q+2"2*RP9(/M37.HQT/S+-QK 0=+=)!'=[SPC8^!1+P)-I/,AYEPNAT4(
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M0)3Q ;OYV(3TJ%:1N<([G$0A/AKCB1.8DECH5%_'?R,&A3$PF7R*)![)/]P
M3W\C"OSO:9BR<@=\1H@RX!0Q!=@<WP%8KU6R6^ZW=528[H.KM_W31SQ>0-]
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MT93$#U1^,]1D4?9+#0V.W"1#335- ,UL :.A#M-M!=3)F3DKF,&[KF& /[Y
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MV#+ 94O?(SC@$N3G$;_T=;/!Z(#UI&'.:RR#P,L^C@?;+6?F<&6$U]*W<4<
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MF"%_V>\>_D4Q A]Z'T_V_@=02P,$%     @ [X%H6$WCU%LQ$@  ;$4  !0
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M2P$"% ,4    " #O@6A8<%DQ "D#  #:"P  $               @ $
M:')L+3(P,C0P,S U+GAS9%!+ 0(4 Q0    ( .^!:%AQ2Y5M_0H  ("&   4
M              "  5<#  !H<FPM,C R-# S,#5?;&%B+GAM;%!+ 0(4 Q0
M   ( .^!:%CZ,^E25 <  -!7   4              "  88.  !H<FPM,C R
M-# S,#5?<')E+GAM;%!+ 0(4 Q0    ( .^!:%C,.LA@KA@  #Z1   1
M          "  0P6  !T;3(T-S8X-60V7SAK+FAT;5!+ 0(4 Q0    ( .^!
M:%B(3M8>QWT   <K P 4              "  >DN  !T;3(T-S8X-60V7V5X
M,2TQ+FAT;5!+ 0(4 Q0    ( .^!:%A$5S@<T#,  *8X 0 4
M  "  >*L  !T;3(T-S8X-60V7V5X-"TQ+FAT;5!+ 0(4 Q0    ( .^!:%A-
MX]1;,1(  &Q%   4              "  >3@  !T;3(T-S8X-60V7V5X-2TQ
:+FAT;5!+!08     !P ' ,<!  !'\P     !

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>19
<FILENAME>tm247685d6_8k_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2023"
  xmlns:iso4217="http://www.xbrl.org/2003/iso4217"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef xlink:href="hrl-20240305.xsd" xlink:type="simple"/>
    <context id="AsOf2024-03-05">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000048465</identifier>
        </entity>
        <period>
            <startDate>2024-03-05</startDate>
            <endDate>2024-03-05</endDate>
        </period>
    </context>
    <unit id="USD">
        <measure>iso4217:USD</measure>
    </unit>
    <unit id="Shares">
        <measure>shares</measure>
    </unit>
    <unit id="USDPShares">
        <divide>
            <unitNumerator>
                <measure>iso4217:USD</measure>
            </unitNumerator>
            <unitDenominator>
                <measure>shares</measure>
            </unitDenominator>
        </divide>
    </unit>
    <dei:AmendmentFlag contextRef="AsOf2024-03-05" id="ixv-340">false</dei:AmendmentFlag>
    <dei:EntityCentralIndexKey contextRef="AsOf2024-03-05" id="ixv-341">0000048465</dei:EntityCentralIndexKey>
    <dei:DocumentType contextRef="AsOf2024-03-05" id="ixv-361">8-K</dei:DocumentType>
    <dei:DocumentPeriodEndDate contextRef="AsOf2024-03-05" id="ixv-362">2024-03-05</dei:DocumentPeriodEndDate>
    <dei:EntityRegistrantName contextRef="AsOf2024-03-05" id="ixv-363">HORMEL FOODS CORPORATION</dei:EntityRegistrantName>
    <dei:EntityIncorporationStateCountryCode contextRef="AsOf2024-03-05" id="ixv-364">DE</dei:EntityIncorporationStateCountryCode>
    <dei:EntityFileNumber contextRef="AsOf2024-03-05" id="ixv-365">1-2402</dei:EntityFileNumber>
    <dei:EntityTaxIdentificationNumber contextRef="AsOf2024-03-05" id="ixv-366">41-0319970</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1 contextRef="AsOf2024-03-05" id="ixv-367">1 Hormel Place</dei:EntityAddressAddressLine1>
    <dei:EntityAddressCityOrTown contextRef="AsOf2024-03-05" id="ixv-368">Austin</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince contextRef="AsOf2024-03-05" id="ixv-369">MN</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode contextRef="AsOf2024-03-05" id="ixv-370">55912</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode contextRef="AsOf2024-03-05" id="ixv-371">507</dei:CityAreaCode>
    <dei:LocalPhoneNumber contextRef="AsOf2024-03-05" id="ixv-372">437-5611</dei:LocalPhoneNumber>
    <dei:WrittenCommunications contextRef="AsOf2024-03-05" id="ixv-373">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial contextRef="AsOf2024-03-05" id="ixv-374">false</dei:SolicitingMaterial>
    <dei:PreCommencementTenderOffer contextRef="AsOf2024-03-05" id="ixv-375">false</dei:PreCommencementTenderOffer>
    <dei:PreCommencementIssuerTenderOffer contextRef="AsOf2024-03-05" id="ixv-376">false</dei:PreCommencementIssuerTenderOffer>
    <dei:Security12bTitle contextRef="AsOf2024-03-05" id="ixv-377">Common Stock $0.01465 par value</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="AsOf2024-03-05" id="ixv-378">HRL</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="AsOf2024-03-05" id="ixv-379">NYSE</dei:SecurityExchangeName>
    <dei:EntityEmergingGrowthCompany contextRef="AsOf2024-03-05" id="ixv-380">false</dei:EntityEmergingGrowthCompany>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
