ALBERTSONS INC /DE/
EX-10.59
<DOCUMENT>
<TYPE>EX-10.59
<SEQUENCE>5
<FILENAME>exhibit4.htm
<DESCRIPTION>EX-10.59
<TEXT>
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<P align="right" style="font-size: 10pt"><FONT style="font-size: 12pt"><B>Exhibit&nbsp;10.59</B></FONT>



<P align="center" style="font-size: 12pt"><B>Award of Deferrable Restricted Stock Units</B>



<P align="center" style="font-size: 12pt"><B>(1995 Plan)</B>



<P align="left" style="font-size: 12pt; text-indent: 4%">Pursuant to Section&nbsp;9 of the Albertson&#146;s, Inc. Amended and Restated 1995 Stock-Based Incentive
Plan (the &#147;Plan&#148;), &nbsp;&nbsp;&nbsp;(the &#147;Participant&#148;), an officer or other key employee of
Albertson&#146;s, Inc. or one or more of its Subsidiaries (the &#147;Company&#148;) is hereby awarded units
representing &nbsp;&nbsp;&nbsp;shares of common stock, $1.00 par value, of the Company (the &#147;Deferrable
Restricted Stock Units&#148;), on &nbsp;&nbsp;&nbsp;, 200&nbsp;&nbsp;&nbsp;(the &#147;Date of Grant&#148;), upon the terms and
conditions set forth in this Award Agreement (this &#147;Agreement&#148;) and in the Plan.


<P align="left" style="font-size: 12pt">1.&nbsp;<B>Grant of Deferrable Restricted Stock Units; Payment of Dividend Equivalents.</B>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Deferrable Restricted Stock Unit represents a hypothetical share of the
Company&#146;s common stock, $1.00 par value (the &#147;Stock&#148;). The Deferrable Restricted Stock
Units will be credited to an account established for the Participant.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>On each date a cash dividend is distributed with respect to the Stock, an
amount equal to such dividend per share, multiplied by the number of Deferrable
Restricted Stock Units then credited to the Participant&#146;s account, will be paid in cash
to the Participant.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 12pt">2.&nbsp;<B>Vesting.</B>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Deferrable Restricted Stock Units will vest as follows: twenty percent
(20%) of the Deferrable Restricted Stock Units will vest on each of the first, second,
third, fourth and fifth anniversaries of the Date of Grant (each, a &#147;Vesting Date&#148;),
provided that the Participant has been continuously employed as an employee of the
Company from the Date of Grant through the applicable Vesting Date. For purposes of
this Agreement, &#147;continuously employed&#148; shall mean the absence of any interruption or
termination of employment with the Company or with a person or entity controlling,
controlled by or under common control with the Company (an &#147;Affiliate&#148;). Continuous
employment shall not be considered interrupted or terminated in the case of sick leave,
military leave or any other leave of absence approved by the Company or in the case of
transfers between locations of the Company or its Affiliates.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding Section 2(a) above, all Deferrable Restricted Stock Units
subject to this Agreement will become immediately vested upon the occurrence of a
Change in Control of the Company.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon a termination of employment for any reason whatsoever, any Deferrable
Restricted Stock Units that were not vested as of such date of termination of
employment will be forfeited and the Company will have no further obligation with
respect to thereto.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Non-Assignable/Non-Transferable. </B>This Agreement and the Deferrable Restricted Stock Units
are not assignable or transferable by the Participant (voluntarily or by operation of law)
prior to issuance as set forth in Section&nbsp;4 below; <U>provided</U>, <U>however</U>, that no
provision in this Agreement will prevent the transfer of the Deferrable Restricted Stock Units
or the shares of Stock underlying such Deferrable Restricted Stock Units by will or the laws
of descent and distribution in the event of the death of the Participant.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 12pt">4.&nbsp;<B>Issuance of the Stock.</B>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company will issue to the Participant the Stock underlying the vested
Deferrable Restricted Stock Units upon each Vesting Date or, if earlier, upon a Change
in Control; <U>provided</U>, <U>however</U>, that if such Change in Control does not
constitute a &#147;change in ownership or effective control&#148; of the Company, or a &#147;change in
the ownership of a substantial portion of the assets&#148; (as such terms are defined in
Section&nbsp;409A of the Internal Revenue Code of 1986, as amended (the &#147;Code&#148;)) and if
required by Section&nbsp;409A of the Code, the Company will issue the Stock underlying the
Deferrable Restricted Stock Units to the Participant upon the earlier of:</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the applicable Vesting Date, notwithstanding any earlier
vesting under Section 2(b) hereof; and</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Participant&#146;s &#147;separation from service&#148; (as such phrase is
defined in Section&nbsp;409A of the Code); <U>provided</U>, <U>however</U>, that
if the Participant is a &#147;specified employee&#148; (as such phrase is defined in
Section&nbsp;409A of the Code) of the Company or an Affiliate on the date of the
Participant&#146;s &#147;separation from service,&#148; the Company will issue the Stock to
the Participant six months following the Participant&#146;s &#147;separation from
service&#148; (or, if earlier, on the date of death).</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding Section 4(a) above, the Participant may elect, in the manner
and form prescribed by the Company (the &#147;Deferral Election&#148;), to delay the issuance of
the Stock pursuant to Section&nbsp;4(a).</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If permitted by Section&nbsp;409A of the Code, such Deferral
Election may apply to less than all of the shares of Stock underlying the
Participant&#146;s Deferrable Restricted Stock Units.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If permitted by Section&nbsp;409A of the Code, the Participant may
make an initial Deferral Election in connection with the grant of the
Deferrable Restricted Stock Units.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Unless otherwise permitted in accordance with Section&nbsp;409A of
the Code, a Deferral Election that is not made pursuant to clause (ii)&nbsp;above
will not be effective unless (A)&nbsp;in the case of a distribution made by reason
of a specified time or a fixed schedule, the Deferral Election is made not less
than twelve months prior to the first date that issuance would have been made
absent such Deferral Election, (B)&nbsp;the issuance under such Deferral Election
will be made no less than five years from the date payment would have been made
absent such Deferral Election (excluding issuance on account of the death or
disability of the Participant), and (C)&nbsp;such Deferral Election will not take
effect until twelve months after the date on which the Deferral Election is
made.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the Participant makes a Deferral Election in accordance with Section 4(b)
above, the Company will issue to the Participant (or to the estate, guardian or
beneficiary of the Participant, as the case may be) the Stock underlying the vested
Deferrable Restricted Stock Units so deferred upon the earliest of: (i)&nbsp;the date
selected by the Participant in the Deferral Election, if any; (ii)&nbsp;the Participant&#146;s
death; and (iii)&nbsp;the Participant&#146;s becoming disabled (within the meaning of Section
409A of the Code).</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except to the extent provided by Section&nbsp;409A and permitted by the Company, no
Stock may be issued to the Participant at a time earlier than otherwise expressly
provided in this Agreement.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s obligations to the Participant with respect to the Deferrable
Restricted Stock Units will be satisfied in full upon the issuance of shares of Stock
corresponding to such Deferrable Restricted Stock Units.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 12pt">5.&nbsp;<B>Detrimental Activity.</B>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the Participant, either during employment by the Company or within one year
after termination of such employment, shall engage in any Detrimental Activity (as
defined below), and the Board of Directors of the Company shall so find, and (except
for any Detrimental Activity described in Section&nbsp;5(c)(iv)(B)) the Participant shall
not have ceased all Detrimental Activity within 30&nbsp;days after notice of such finding
given within one year after commencement of such Detrimental Activity, the Participant
shall:</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Forfeit any Deferrable Restricted Stock Units then held by the
Participant;</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Return to the Company, all shares of Stock that the Participant
has not disposed of that were issued to the Participant pursuant to this
Agreement within a period of one year prior to the date of the commencement of
such Detrimental Activity; and</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>With respect to any shares of Stock that the Participant has
disposed of that were issued to the Participant pursuant to this Agreement
within a period of one year prior to the date of the commencement of such
Detrimental Activity, pay to the Company in cash the closing price of the
&nbsp;shares of such Stock on the New York Stock Exchange on the date of issuance
pursuant to this Agreement (or on the last trading day prior to such issuance,
if there was no trading on the date of issuance).</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To the extent that such amounts are not paid to the Company, the Company may,
in addition to all other remedies at law or in equity, set off the amounts so payable
to it against any amounts that may be owing from time to time by the Company to the
Participant, whether as wages, deferred compensation or vacation pay or in the form of
any other benefit or for any other reason.</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 12pt">(c)&nbsp;For purposes of this Agreement, the term &#147;Detrimental Activity&#148; shall include:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without the prior written consent of the Company, engaging in
any activity, as an employee, director, principal, agent, or consultant for
another entity, and in a capacity, that directly competes with the Company in
any business activity (or in any business activity which was under active
development while the Participant was employed by the Company if such
development is being actively pursued by the Company during the one-year period
referred to in this Section&nbsp;5) for which the Participant has had any direct
responsibility and direct involvement during the last two years of his or her
employment with the Company, in any territory in which the Company engages in
such business activity.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting any employee of the Company to terminate his or her
employment with the Company.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The disclosure to anyone outside the Company, or the use in
other than the Company&#146;s business, without prior written authorization from the
Company, of any confidential, proprietary or trade secret information or
material relating to the business of the Company, acquired by the Participant
during his or her employment with the Company or while acting as a consultant
for the Company thereafter.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Activity that results in termination for &#147;cause&#148;. For the
purposes of this Section, termination for &#147;cause&#148; shall mean a termination:</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="15%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(A)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Due to the Participant&#146;s willful and continuous
gross neglect of his or her duties for which he or she is employed; or</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="15%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(B)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Due to an act of dishonesty on the part of the
Participant constituting a felony resulting or intended to result,
directly or indirectly, in his or her gain for personal enrichment at
the expense of the Company.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 12pt">6.&nbsp;<B>Rights of Participant.</B>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Participant will not have any rights as a stockholder with respect to any
&nbsp;shares of Stock issuable pursuant to the Deferrable Restricted Stock Units until the
date on which a stock certificate (or certificates) representing such Stock is issued.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The obligations of the Company under this Agreement will be merely that of an
unfunded and unsecured promise of the Company to deliver shares of Stock in the future
and to pay cash in respect of dividends from time to time, and the rights of the
Participant will be no greater than that of an unsecured general creditor. No assets
of the Company will be held or set aside as security for the obligations of the Company
under this Agreement.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Adjustments. </B>The number of shares of Stock issuable pursuant to the Deferrable Restricted
Stock Units is subject to adjustment as provided in Section&nbsp;14 of the Plan.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 12pt">8.&nbsp;<B>American Jobs Creation Act.</B>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>It is intended that this Agreement and its administration comply with the
provisions of Section&nbsp;409A of Code. Any provisions in this Agreement or in the Plan
that would cause the Agreement to fail to satisfy Section&nbsp;409A of the Code shall have
no force and effect until amended to comply with Section&nbsp;409A of the Code (which
amendment may be retroactive to the extent permitted by Section&nbsp;409A of the Code and
may be made by the Company without the consent of the Participant).</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>It is intended that, to the extent applicable, all Participant elections
hereunder will comply with Section&nbsp;409A of the Code. The Company is authorized to
adopt rules or regulations deemed necessary or appropriate in connection therewith to
anticipate and/or comply with the requirements thereof.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Notices. </B>Notices hereunder will be mailed or delivered to the Company, Compensation
Department, Albertson&#146;s, Inc., P.O. Box 20, Boise, Idaho 83726 and will be mailed to or
delivered to the Participant at the Participant&#146;s address set forth in the payroll records of
the Company, or in either case, at such other address as one party may subsequently furnish to
the other party in writing.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>No Employment Rights. </B>This award will not confer upon the Participant any right with respect
to continuance of employment by the Company, nor will it interfere in any way with any right
of the Company to terminate the Participant&#146;s employment at any time.</TD>
</TR>

</TABLE>


<P>
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    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Governing Law. </B>The laws of the State of Delaware will govern this award and all matters
related hereto.</TD>
</TR>

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    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Severability. </B>In the event that one or more of the provisions of this Agreement shall be
invalidated for any reason by a court of competent jurisdiction, any provision so invalidated
shall be deemed to be separable from the other provisions hereof, and the remaining provisions
hereof shall continue to be valid and fully enforceable.</TD>
</TR>

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    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Interpretation. </B>Any reference in this Agreement to Section&nbsp;409A of the Code will also
include any proposed, temporary or final regulations, or any other guidance, promulgated with
respect to such Section by the U.S. Department of the Treasury or the Internal Revenue
Service. Except as expressly provided in this Agreement, capitalized terms used herein will
have the meaning ascribed to such terms in the Plan.</TD>
</TR>

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    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">14.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Subject to Plan. </B>This award is subject to the terms of the Plan, and the Participant is
being delivered a copy of the Plan with this award agreement. To the extent any provision of
this Agreement violates or is inconsistent with an express provision of the Plan, the Plan
provision will govern and any inconsistent provision in this Agreement will have no force or
effect.</TD>
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    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">15.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Taxes. </B>The Participant will pay to the Company, on demand, any taxes the Company reasonably
determines it is required to withhold under applicable tax laws with respect to the Deferrable
Restricted Stock Units or the issuance of Stock pursuant to this award. The tax withholding
obligation shall be satisfied by the Company withholding shares of Stock otherwise issuable
pursuant to this award in order to satisfy the minimum tax withholding amount permissible
under the method that results in the least amount withheld.</TD>
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    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">16.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Counterparts. </B>This Agreement may be executed in two or more counterparts, each of which will
be an original but all of which together will represent one and the same agreement.</TD>
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    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">17.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Amendments/Entire Agreement. </B>Any amendment to the Plan will be deemed to be an amendment to
this Agreement. Except as provided in this Agreement, no amendment will adversely affect the
number or value of the Participant&#146;s Deferrable Restricted Stock Units without the
Participant&#146;s written consent. This Agreement cannot be changed or terminated orally. The
Agreement and the Plan contain the entire agreement between the parties relating to the
subject matter hereof.</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:4%; font-size: 12pt">PARTICIPANT ALBERTSON&#146;S, INC.



<P align="left" style="margin-left:4%; font-size: 12pt">&nbsp;&nbsp;&nbsp;By:&nbsp;&nbsp;&nbsp;


<P align="left" style="font-size: 12pt; text-indent: 31%">Title:&nbsp;&nbsp;&nbsp;



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