Common use of Description of Payments Clause in Contracts

Description of Payments. The payments to be made to Employee are: (a) ANNUAL BASE AND INCENTIVE COMPENSATION. Employee shall receive for the three year period described in Section 2 above an annual amount equal to his current annual rate of compensation, which current annual compensation shall be computed as follows: twenty-six times the Employee's highest bi-weekly salary payment received during the one year period ending immediately prior to the Change of Control of ConAgra. In addition, Employee shall receive (i) an amount for short term incentive equal to the larger of (I) the short term incentive target, if any, most recently approved by the Human Resources Committee of the Board ("Committee"), and (II) the highest of the three actual short term incentive awards (including deferred amounts) made to Employee for the three fiscal years immediately preceding such Change of Control, plus (ii) an amount for the Long Term Senior Management Incentive Plan Award equal to the highest per unit award made during the three fiscal years immediately preceding such Change of Control multiplied by the number of units of participation approved by the Committee for the current fiscal year.

Description of Payments. The payments to be made to Employee are: (a) ANNUAL BASE AND INCENTIVE COMPENSATIONAnnual Base and Incentive Compensation. Employee shall receive for the three year period described in Section 2 above an annual amount equal to his the Employee’s current annual rate of compensation, which current annual compensation shall be computed as follows: twenty-six times the Employee's ’s highest bi-weekly salary payment received during the one year period ending immediately prior to the Change of Control of ConAgra. In addition, Employee shall receive (i) an amount for short term incentive equal to the larger of (I) the short term incentive target, if any, most recently approved by the Human Resources Committee of the Board ("“Committee"”), and (II) the highest of the three actual short term incentive awards (including deferred amounts) made to Employee for the three fiscal years immediately preceding such Change of Control, plus (ii) an amount for the Long Term Senior Management Incentive Plan Award equal to the highest per unit award made during the three fiscal years immediately preceding such Change of Control multiplied by the number of units of participation approved by the Committee for the current fiscal year.

Description of Payments. The payments to be made to Employee are: (a) ANNUAL BASE AND INCENTIVE COMPENSATIONAnnual Base and Incentive Compensation. Employee shall receive for the three year period described in Section 2 above an annual amount equal to his the Employee's current annual rate of compensation, which current annual compensation shall be computed as follows: twenty-six times the Employee's highest bi-weekly salary payment received during the one year period ending immediately prior to the Change of Control of ConAgra. In addition, Employee shall receive (i) an amount for short term incentive equal to the larger of (I) the short term incentive target, if any, most recently approved by the Human Resources Committee of the Board ("Committee"), and (II) the highest of the three actual short term incentive awards (including deferred amounts) made to Employee for the three fiscal years immediately preceding such Change of Control, plus (ii) an amount for the Long Term Senior Management Incentive Plan Award equal to the highest per unit award made during the three fiscal years immediately preceding such Change of Control multiplied by the number of units of participation approved by the Committee for the current fiscal year.