MEMORANDUM OF UNDERSTANDINGTasty Baking Co • May 12th, 2011 • Bakery products
This Memorandum of Understanding is entered into this 11th day of May, 2011, by and between: (i) plaintiffs Julie Michelsen, Tim Enochs, Paul F. Ringheiser III, and Joan Taylor (together with David Raul, collectively called “Plaintiffs”) individually and on behalf of all others similarly situated; and (ii) Tasty Baking Company (“Tasty” or the “Company”), Charles P. Pizzi, James E. Ksansnak, Judith M. von Seldeneck, Ronald J. Kozich, David J. West, James C. Hellauer, James E. Nevels, Mark G. Conish and Mark T. Timbie (the “Individual Defendants”) and Flowers Foods, Inc. (“Flowers”) and Flowers Bakeries, LLC (“Merger Sub” and with Flowers, Tasty and the Individual Defendants collectively referred to as the “Defendants”), in three lawsuits that the parties requested to be consolidated as a putative class action lawsuit captioned In re Tasty Baking Company Shareholder Litigation, Consolidated Case No. 110402487, pending in the Court of Common Pleas of Philadelphia County Pennsylvania and a
