Item 5.02 - Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Effective on January 28, 2021, the Board of Directors (the "Board") of Campbell
Soup Company (the "Company") adopted a resolution to increase the size of the
Board to 13 members and elected Grant H. Hill as a director. Mr. Hill will serve
for an initial term to expire concurrently with the terms of the other members
of the Board at the Company's 2021 annual meeting of shareholders and until his
successor is elected and qualified. Additionally, Mr. Hill was appointed to the
Compensation and Organization Committee and the Governance Committee, effective
as of the same date.
Mr. Hill will be paid a pro-rated Board retainer in accordance with the
Company's 2021 non-employee director compensation program, described in Exhibit
10.2 to the Company's Quarterly Report on Form 10-Q for the quarter ended
November 1, 2020, which was filed with the Securities and Exchange Commission on
December 9, 2020 and is incorporated herein by reference.
No arrangement or understanding exists between Mr. Hill and any other person
pursuant to which Mr. Hill was selected as a director, and there are no
transactions which would require disclosure under Item 404(a) of Regulation S-K.
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