<SEC-DOCUMENT>0001193125-18-344259.txt : 20181207
<SEC-HEADER>0001193125-18-344259.hdr.sgml : 20181207
<ACCEPTANCE-DATETIME>20181207083258
ACCESSION NUMBER:		0001193125-18-344259
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20181205
ITEM INFORMATION:		Cost Associated with Exit or Disposal Activities
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20181207
DATE AS OF CHANGE:		20181207

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CONAGRA BRANDS INC.
		CENTRAL INDEX KEY:			0000023217
		STANDARD INDUSTRIAL CLASSIFICATION:	FOOD & KINDRED PRODUCTS [2000]
		IRS NUMBER:				470248710
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07275
		FILM NUMBER:		181222223

	BUSINESS ADDRESS:	
		STREET 1:		222 W. MERCHANDISE MART PLAZA
		STREET 2:		SUITE 1300
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60654
		BUSINESS PHONE:		312-549-5000

	MAIL ADDRESS:	
		STREET 1:		222 W. MERCHANDISE MART PLAZA
		STREET 2:		SUITE 1300
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60654

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CONAGRA FOODS INC /DE/
		DATE OF NAME CHANGE:	20001006

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CONAGRA INC /DE/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NEBRASKA CONSOLIDATED MILLS CO
		DATE OF NAME CHANGE:	19721201
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<FILENAME>d599715d8k.htm
<DESCRIPTION>FORM 8-K
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): December&nbsp;5, 2018 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>CONAGRA BRANDS, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name of Registrant as Specified in its Charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">1-7275</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">47-0248710</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>222 Merchandise Mart Plaza, Suite 1300, Chicago, Illinois 60654 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices) (Zip Code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(312) <FONT STYLE="white-space:nowrap">549-5000</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s Telephone Number, Including Area Code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
Name or Former Address, if Changed Since Last Report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9744; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9744; Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9744; <FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9744; <FONT
STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">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 <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this chapter). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Emerging growth company&nbsp;&nbsp;&#9744; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">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&nbsp;13(a) of the Exchange Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Item&nbsp;2.05 Costs Associated With Exit or Disposal Activities. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As previously announced, on October&nbsp;26, 2018, Conagra Brands, Inc. (the &#147;<B><I>Company</I></B>&#148;) completed its acquisition of Pinnacle Foods
Inc. (&#147;<B><I>Pinnacle</I></B>&#148;) whereby Patriot Merger Sub Inc., a wholly-owned subsidiary of the Company, merged with and into Pinnacle, with Pinnacle continuing as the surviving corporation (the &#147;<B><I>Merger</I></B>&#148;). On
December&nbsp;6, 2018, the Board of Directors of the Company (the &#147;<B><I>Board</I></B>&#148;) authorized the establishment of the Pinnacle Integration Restructuring Plan in connection with the Merger and management&#146;s desire to take actions
and implement projects to achieve significant cost synergies between the Company and Pinnacle (the &#147;<B><I>Pinnacle Restructuring Plan</I></B>&#148;). The Board approved the incurrence under the Pinnacle Restructuring Plan of up to (1)
$365&nbsp;million of cash costs, including up to (a) $150&nbsp;million of capital expenditures and (b) $215&nbsp;million of operational expenditures, and (2) $75&nbsp;million of <FONT STYLE="white-space:nowrap">non-cash</FONT> charges. Overall
charges expected to be incurred under the Pinnacle Restructuring Plan are up to $440&nbsp;million. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of December&nbsp;6, 2018, the Company has incurred
approximately $103&nbsp;million of charges under the Pinnacle Restructuring Plan. The Company expects to incur all of the restructuring charges under the Pinnacle Restructuring Plan over the next three years. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company&#146;s preliminary estimates of accounting charges related to these actions include the following: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Capital expenditure cash costs</U>: $150&nbsp;million </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Operational expenditure cash costs</U>: $215&nbsp;million, comprised of: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Employee severance, retention, relocation and related costs: $95&nbsp;million </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Costs related to supply chain restructuring activities: $60&nbsp;million </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Other costs: $60&nbsp;million</P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Operational expenditure <FONT STYLE="white-space:nowrap">non-cash</FONT> charges</U>: $75&nbsp;million </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company intends to treat charges related to the Pinnacle Restructuring Plan as items impacting comparability of results. The estimated charges, costs and
synergies noted above are subject to a number of assumptions. Actual results may differ materially as a result of various important factors, including the risks and uncertainties described under the heading &#147;Cautionary Note Regarding
Forward-Looking Statements&#148; below. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Current Report on <FONT STYLE="white-space:nowrap">Form&nbsp;8-K&nbsp;contains</FONT> forward-looking statements within the meaning of the federal
securities laws about the Company. These forward-looking statements are based on management&#146;s current expectations and are subject to uncertainty and changes in circumstances. Readers of this Current Report on
<FONT STYLE="white-space:nowrap">Form&nbsp;8-K&nbsp;should</FONT> understand that these statements are not guarantees of performance or results. Many factors could affect actual financial results and cause them to vary materially from the
expectations contained in the forward-looking statements, including those set forth in this Current Report on <FONT STYLE="white-space:nowrap">Form&nbsp;8-K.&nbsp;These</FONT> risks and uncertainties include, among other things: the risk that the
cost savings and any other synergies from the acquisition of Pinnacle (the &#147;acquisition&#148;) may not be fully realized or may take longer to realize than expected; the risk that the actual amount of charges under the Pinnacle Restructuring
Plan may vary, perhaps materially, from the estimates contained in this Current Report on Form <FONT STYLE="white-space:nowrap">8-K;</FONT> the risk that the acquisition may not be accretive within the expected timeframe or to the extent
anticipated; the risks that the acquisition and related integration will create disruption to Conagra Brands and its management and impede the achievement of business plans; the risk that the acquisition will negatively impact the ability to retain
and hire key personnel and maintain relationships with customers, suppliers and other third parties; risks related to Conagra Brands&#146; ability to achieve the intended benefits of recent and pending acquisitions and divestitures, including the
recent <FONT STYLE="white-space:nowrap">spin-off</FONT> of Conagra Brand&#146;s Lamb Weston business and the continued evaluation of the role of Conagra Brand&#146;s Wesson oil business; risks associated with general economic and industry
conditions; risks associated with Conagra Brands&#146; ability to successfully execute its long-term value creation strategies, including those in place for specific brands at Pinnacle Foods before the acquisition; risks related to Conagra
Brands&#146; ability to deleverage on currently anticipated timelines, and to continue to access capital on acceptable terms or at all; risks related to Conagra Brands&#146; ability to execute operating and restructuring plans and achieve targeted
operating efficiencies from cost-saving initiatives, related to the acquisition and otherwise, and to benefit from trade optimization programs, related to the acquisition and otherwise; risks related to the effectiveness of Conagra Brands&#146;
hedging activities and ability to respond to volatility in commodities; risks related to the </P>
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company&#146;s competitive environment and related market conditions; risks related to Conagra Brands&#146; ability to respond to changing consumer preferences and the success of its innovation
and marketing investments; risks related to the ultimate impact of any product recalls and litigation, including litigation related to the lead paint and pigment matters; risk associated with actions of governments and regulatory bodies that affect
Conagra Brands&#146; businesses, including the ultimate impact of recently enacted U.S. tax legislation and related regulations or interpretations; risks related to the availability and prices of raw materials, including any negative effects caused
by inflation or weather conditions; risks and uncertainties associated with intangible assets, including any future goodwill or intangible assets impairment charges, related to the acquisition or otherwise; the costs, disruption, and diversion of
management&#146;s attention associated with campaigns commenced by activist investors or due to the integration of the acquisition; and other risks described in Conagra Brands&#146; reports filed from time to time with the Securities and Exchange
Commission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Readers are cautioned not to place undue reliance on any forward-looking statements included in this communication, which speak only as of
the date of this communication. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by applicable law. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On December&nbsp;5, 2018, the Board approved, effective as of January&nbsp;4, 2019 (the&nbsp;&#147;<B><I>Effective Date</I></B>&#148;),
an increase in the size of the Board from nine directors to ten directors and appointed Melissa Lora as a director of the Company to fill the newly-created vacancy and to serve until her successor is elected and qualified or until her earlier
resignation or removal.&nbsp;Ms.&nbsp;Lora will serve as a member of the Audit / Finance Committee of the Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board has determined that
Ms.&nbsp;Lora satisfies the definition of &#147;independent director&#148; under the listing standards of the New York Stock Exchange and the categorical independence standards contained in the Company&#146;s Corporate Governance Principles. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As <FONT STYLE="white-space:nowrap">a&nbsp;non-employee&nbsp;director,</FONT> Ms.&nbsp;Lora will receive compensation in the same manner as the Company&#146;s
<FONT STYLE="white-space:nowrap">other&nbsp;non-employee&nbsp;directors.</FONT> Ms.&nbsp;Lora will receive compensation for services during fiscal 2019 of (i)&nbsp;a cash retainer representing a prorated portion of the annual cash retainer provided <FONT
STYLE="white-space:nowrap">to&nbsp;non-employee&nbsp;directors,</FONT> and (ii)&nbsp;a prorated portion of the annual equity award provided <FONT STYLE="white-space:nowrap">to&nbsp;non-employee&nbsp;directors.</FONT> Accordingly, on December&nbsp;6,
2018, the Board approved restricted stock units (the&nbsp;&#147;<B><I>RSUs</I></B>&#148;) with a value equal to $62,500 to be granted to Ms.&nbsp;Lora on February&nbsp;1, 2019 (the&nbsp;&#147;<B><I>Grant Date</I></B>&#148;), with the number of RSUs
being determined by dividing $62,500 by the average of the closing stock price of the Company&#146;s common stock on the New York Stock Exchange for the thirty (30)&nbsp;trading days prior to (and not including) the Grant Date, and rounding to the
nearest share. In addition to the retainer and equity award, Ms.&nbsp;Lora is eligible to participate in the <FONT STYLE="white-space:nowrap">other&nbsp;non-employee&nbsp;director</FONT> compensation arrangements described in the Company&#146;s
definitive proxy statement on Schedule 14A filed on August&nbsp;9, 2018 with the Securities and Exchange Commission (the &#147;<B><I>SEC</I></B>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On December&nbsp;5, 2018, the Company adopted the Second Amendment (the &#147;<B><I>Second Amendment</I></B>&#148;) to the Company&#146;s Voluntary Deferred
Compensation Plan (the &#147;<B><I>Plan</I></B>&#148;). Except as described herein, the terms of the Plan are materially consistent with the terms of the Company&#146;s Voluntary Deferred Compensation Plan filed as Exhibit 10.4.7 to the
Company&#146;s Form <FONT STYLE="white-space:nowrap">10-Q</FONT> filed with the SEC on October&nbsp;3, 2017 for the quarterly period ended August 27, 2017 and the First Amendment to the Company&#146;s Voluntary Deferred Compensation Plan filed as
Exhibit 10.4.8 to the Company&#146;s Form <FONT STYLE="white-space:nowrap">10-Q</FONT> filed with the SEC on January&nbsp;4, 2018 for the quarterly period ended November&nbsp;26, 2017. The key changes implemented by the Second Amendment are
described below: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The Second Amendment allows for certain Pinnacle employees to participate in the Plan effective March&nbsp;1,
2019. The Second Amendment permits the Company to provide matching contributions to those Pinnacle employees who make deferral contributions under the Plan on or after March&nbsp;1, 2019. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The Second Amendment removes the requirement that a Plan participant be employed with the Company by
December&nbsp;31 in order to receive a Company matching contribution for that given year. The Plan now provides that participants who made deferral contributions under the Plan that are not employed with the Company on December&nbsp;31 of any given
calendar year will receive a <FONT STYLE="white-space:nowrap">pro-rated</FONT> Company matching contribution for that calendar year. </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The description set forth above relating to the Second Amendment does not purport to be complete and is
qualified in its entirety by the full text of the Second Amendment, a copy of which is attached as Exhibit 10.1 hereto and incorporated herein by reference. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Item&nbsp;9.01 Financial Statements and Exhibits. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Exhibits </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
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<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d599715dex101.htm">Second Amendment, dated as of December&nbsp;5, 2018, to the Conagra Brands, Inc. Voluntary Deferred Compensation Plan. </A></TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SIGNATURE </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3">CONAGRA BRANDS, INC.</TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Colleen Batcheler</P></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: Colleen Batcheler</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title: &nbsp;&nbsp;Executive Vice President, General Counsel and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Secretary</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: December&nbsp;7, 2018 </P>
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<TYPE>EX-10.1
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SECOND AMENDMENT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TO
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONAGRA BRANDS, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>VOLUNTARY DEFERRED COMPENSATION PLAN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(January&nbsp;1, 2017 Restatement) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS Conagra Brands, Inc. (the &#147;Company&#148;) sponsors the Conagra Brands, Inc. Voluntary Deferred Compensation Plan, effective
January&nbsp;1, 2017 (the &#147;Plan&#148;); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company&#146;s Human Resources Committee (the &#147;HRC&#148;) has the
authority, pursuant to Section&nbsp;9.1 of the Plan, to amend the Plan; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the HRC desires to amend the Plan to (1)&nbsp;remove
the end of year employment requirement to receive employer contributions and (2)&nbsp;provide for <FONT STYLE="white-space:nowrap">mid-year</FONT> participation for employees of Pinnacle Foods, Inc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, the Plan is amended, effective as of the dates set forth herein, in the following respects: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;II of the Plan is amended, effective January&nbsp;1, 2019, by adding a new paragraph after the current first paragraph
to read as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">&#147;Prior to March&nbsp;1, 2019, no employee of Pinnacle Foods, Inc. shall be eligible to participate in the Plan.
Effective as of March&nbsp;1, 2019, any active Pinnacle Foods, Inc. employee who either has been selected by, and at the sole and absolute discretion of, the Human Resources Committee, or who is both categorized by the Company or a Related Company
as a grade level 23 or higher, and who has an annual base salary that equals or exceeds $125,000 (a &#147;Pinnacle Participant&#148;) shall become eligible to participate in and make Compensation Deferral Contributions under the Plan.
Notwithstanding any provision to the contrary, Section&nbsp;3.4 shall apply to each Pinnacle Participant&#146;s elections under the Plan with respect to 2019.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2.&nbsp;&nbsp;&nbsp;&nbsp;The first paragraph of Section&nbsp;3.2 of the Plan is amended, effective January&nbsp;1, 2019, by adding a sentence at the end
thereof to read as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">&#147;Any Participant whose Separation from Service occurs prior to the last day of the Plan Year shall
remain eligible for Employer Matching Contributions for such Plan Year.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3.&nbsp;&nbsp;&nbsp;&nbsp;The first paragraph of Section&nbsp;3.3 of the
Plan is amended, effective January&nbsp;1, 2019, to read as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">&#147;3.3 <U>Employer Non-elective Contributions</U>. The Employer
will credit, at the end of each Plan Year, an eligible Participant&#146;s 409A Account with an Employer <FONT STYLE="white-space:nowrap">Non-elective</FONT> Contribution equal to 3% of such Participant&#146;s normal compensation and short term
incentive in excess of the Code Section&nbsp;401(a)(17) limitation in effect for such Plan Year. Any Participant whose Separation from Service occurs prior to the last day of the Plan Year shall remain eligible for Employer <FONT
STYLE="white-space:nowrap">Non-Elective</FONT> Contributions for such Plan Year. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">If a Participant is not permitted to make Compensation Deferral Contributions in the first
year of hire, an Employer <FONT STYLE="white-space:nowrap">Non-elective</FONT> Contribution equal to 9% of such Participant&#146;s normal compensation and short term incentive in excess of the applicable Code Section&nbsp;401(a)(17) limitation will
be made for such Participant in his or her first Plan Year of participation, and such amount will be credited to the Participant&#146;s 409A Account as of the end of such first Plan Year.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4.&nbsp;&nbsp;&nbsp;&nbsp;A new Section&nbsp;3.4 will be added to the Plan, effective March&nbsp;1, 2019, to read as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">&#147;3.4 <U>2019 Treatment of Pinnacle Employees</U>. Except for any Pinnacle Participant who, during the 24 month period ending on
March&nbsp;1, 2019, was eligible to participate in the Pinnacle Foods Supplemental Savings Plan (&#147;PFSSP Eligible Employee&#148;), a Pinnacle Participant may make a Compensation Deferral Contribution election for 2019 during the enrollment
window chosen by the Company, which shall be within 30&nbsp;days after the date the Pinnacle Participant first becomes eligible to participate in the Plan; provided that such election may apply only to base salary attributable to services to be
performed subsequent to the election and paid on or after April&nbsp;1, 2019. With respect to a PFSSP Eligible Employee, his or her Compensation Deferral Contribution election made in 2018&nbsp;shall apply only to base salary attributable to
services to be performed and salary paid on or after April&nbsp;1, 2019. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Compensation for purposes of calculating Employer Matching
Contributions and Employer <FONT STYLE="white-space:nowrap">Non-elective</FONT> Contributions and determining any amount in excess of the Code Section&nbsp;401(a)(17) limitation for 2019 for a Pinnacle Participant shall include all earnings from the
Company or a Related Company paid to the Pinnacle Participant in 2019. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">If a Pinnacle Participant does not make a Compensation Deferral
Contribution for 2019, an Employer Non-elective Contribution equal to 9% of such Pinnacle Participant&#146;s 2019 compensation in excess of the applicable Code Section&nbsp;401(a)(17) limitation shall be made for such Pinnacle Participant, and such
amount will be credited to the Pinnacle Participant&#146;s 409A Account as of the end of the 2019 Plan Year.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the Company has caused this Second Amendment to be executed on its
behalf, by its officer duly authorized, this 5<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> day of December, 2018. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"><B>CONAGRA BRANDS, INC.</B></TD></TR>
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<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Ryan Egan</TD></TR>
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<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Ryan Egan</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Vice President of Human Resources</TD></TR>
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