GARDENBURGER INC
EXHIBIT 10.30
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<TYPE>EX-10.30
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<DESCRIPTION>EXHIBIT 10.30
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<P ALIGN="RIGHT"><FONT SIZE=2><B>EXHIBIT 10.30  </B></FONT></P>

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<TD WIDTH="69%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="16%"><FONT SIZE=2>Option No.</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%"><FONT SIZE=2>506</FONT></TD>
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<TD WIDTH="69%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="16%"><FONT SIZE=2>No. of Shares</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%"><FONT SIZE=2>150,000</FONT></TD>
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="kc2464_gardenburger,_inc._incentive_s__gar03076"> </A>
<A NAME="toc_kc2464_1"> </A>
<BR></FONT><FONT SIZE=2><B>GARDENBURGER,&nbsp;INC.<BR>  INCENTIVE STOCK OPTION AND<BR>  INCENTIVE STOCK OPTION AGREEMENT    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This Incentive Stock Option is granted and this Incentive Stock Option Agreement (the "Agreement") is executed by and between Gardenburger,&nbsp;Inc., an
Oregon corporation (the "Company"), and Scott C. Wallace (the "Optionee"), effective January&nbsp;15, 2001. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><I>RECITALS  </I></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;The
Company has duly adopted that certain </FONT><FONT SIZE=2><I>Gardenburger,&nbsp;Inc., 1992 First Amended and Restated Combination Stock Option
Plan</I></FONT><FONT SIZE=2>, a copy of which is attached hereto as Exhibit&nbsp;A (the "Plan"). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;The
Plan authorizes a committee appointed by the Board of Directors of the Company (the "Administrative Committee") to grant incentive stock options to officers and
employees of the Company. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;C.&nbsp;&nbsp;The
Administrative Committee has selected the Optionee to receive an incentive stock option under the Plan. </FONT></P>


<P><FONT SIZE=2>NOW,
THEREFORE, THE COMPANY AND THE OPTIONEE COVENANT AND AGREE AS FOLLOWS: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;Number of Shares Subject to Option and Option Price.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;The Company hereby grants to the Optionee an
incentive stock option (the "Option") to purchase from the Company 150,000 shares of the no par value common stock of the Company (the "Common Stock") at an exercise price of $.71875 per share. The
Option is exercisable upon the terms and conditions contained herein. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;Additional Terms of the Option.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;Subject to the provisions of Paragraph&nbsp;3 below, the Option
shall have the following terms: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;The
effective date of the grant of the Option shall be the date first set forth above. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;The
Option shall vest as follows: </FONT></P>
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<TH WIDTH="73%" ALIGN="LEFT"><FONT SIZE=1><B>Date<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="22%" ALIGN="CENTER"><FONT SIZE=1><B>Cumulative<BR>
Percentage Vested</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
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<TD WIDTH="73%"><FONT SIZE=2>January 15, 2002</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="RIGHT"><FONT SIZE=2>25</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
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<TD WIDTH="73%"><FONT SIZE=2><BR>
January 15, 2003</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="RIGHT"><FONT SIZE=2><BR>
50</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>%</FONT></TD>
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January 15, 2004</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="RIGHT"><FONT SIZE=2><BR>
75</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>%</FONT></TD>
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January 15, 2005</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="22%" ALIGN="RIGHT"><FONT SIZE=2><BR>
100</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>%</FONT></TD>
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<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;The
foregoing vesting schedule notwithstanding, this Option shall immediately vest as to any Option shares that have not then become vested upon: </FONT></P>

<UL>
<DL compact>
<DT><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>the
termination of the employment of the Optionee by the Company as a result of the Optionee's death or "Disability" (as defined in Optionee's
Employment Agreement dated as of January&nbsp;15, 2001); or
<BR><BR></FONT></DD><DT><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>following
a "Change in Control" of the Company (as defined below), (x)&nbsp;the termination of the employment of the Optionee by the Company
other than for "Cause" (as defined in Optionee's Employment Agreement dated as of January&nbsp;15, 2001), death or Disability </FONT></DD></DL>
</UL>
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<P><FONT SIZE=2>or
(y)&nbsp;the occurrence of a material diminution in Optionee's position or responsibilities with or compensation by the Company. For purposes hereof, a "Change in Control" of the Company shall be
deemed to have occurred upon the earlier of: </FONT></P>

<DL compact>
<DT><FONT SIZE=2>(a)</FONT></DT><DD><FONT SIZE=2>the
date that any "person" (as that term is defined in Sections 3(a)(9) and 13(d)(3) of the Securities Exchange Act of 1934, as amended (the "Act")), other than a trustee or other
fiduciary holding securities under an employee benefit plan of the Company, becomes a beneficial owner (within the meaning of Rule&nbsp;13d-3 promulgated under the Act), directly or
indirectly, of securities of the Company representing 25% or more of the combined voting power of the Company's then outstanding securities; or
<BR><BR></FONT></DD><DT><FONT SIZE=2>(b)</FONT></DT><DD><FONT SIZE=2>the
date of any annual or special meeting of shareholders at which a majority of the directors then elected are not individuals nominated by the Company's then incumbent Board; or
<BR><BR></FONT></DD><DT><FONT SIZE=2>(c)</FONT></DT><DD><FONT SIZE=2>the
date of approval by the shareholders of the Company of a plan of merger or consolidation of the Company in which such shareholders will not hold at least 75% of the combined
voting power of the resulting entity immediately following such merger or consolidation, or the approval by the shareholders of the Company of a plan of complete liquidation of the Company or an
agreement for the sale of substantially all of the Company's assets. </FONT></DD></DL>
</UL>
</UL>
</UL>
<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.4&nbsp;The
Option shall expire on January&nbsp;15, 2011 (the "Expiration Date"). </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.5&nbsp;To
the extent vested, the Option may be exercised in whole or in part at any time and from time to time prior to the Expiration Date. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.6&nbsp;The
Option must be exercised, if at all, as to a whole number of shares. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;Incorporation By Reference of the terms and Conditions of the Plan.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;The terms and conditions of this
Option shall be subject to all of the terms and conditions of the Plan, which terms and conditions are expressly incorporated by reference into this Agreement to the same extent and with the same
effect as if such terms and conditions were set forth herein. In the event of a conflict or inconsistency between the terms and conditions set forth in this Agreement and the terms and conditions of
the Plan, those of the Plan shall control. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;Exercise of the Option; Delivery of Certificates.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;The
Option may be exercised only in accordance with the terms and conditions of Section&nbsp;9 of the Plan and by (1)&nbsp;delivery to the Company of a Notice
of Exercise substantially in the form of Exhibit&nbsp;B attached hereto specifying the number of shares of Common Stock for which the exercise is to be effective, and (2)&nbsp;tendering full
payment of the Option Price for such shares. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;Within
a reasonable time after its receipt of the Optionee's Notice of Exercise, the Company shall deliver to the Optionee a certificate for the shares of Common
Stock for which exercise of the Option was effective. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;Transferability of the Option.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;The Option is transferable only in accordance with Section&nbsp;10
of the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;Warranties and Representations of the Optionee.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;By executing this Agreement, the Optionee accepts
the Option and agrees to be bound by all of the terms of this Agreement and the Plan. In addition, the Optionee acknowledges that exercise of the Option and the sale of the shares of Common Stock
acquired upon exercise thereof may have tax implications for which the Optionee should seek individual advice by his or her own tax counselor or advisor. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;Indemnification by the Optionee.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;The Optionee agrees to indemnify and hold the Company harmless from
any loss or damage, including attorney's fees or other legal expenses, incurred in the </FONT></P>

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defense or payment of any such claim against the Company resulting from a breach by the Optionee of the representations, warranties or provisions contained in this Agreement. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;8.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;No Right to Continued Relationship.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;Nothing herein shall confer upon the Optionee the right to
continue as an officer or employee of or with the Company or affect any right which the Company may have to terminate its relationship with the Optionee. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;Rights as Shareholder.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;The Optionee shall have no rights as a shareholder of the Company on account
of the Option or on account of shares of Common Stock subject hereto until such time as the Company shall have issued and delivered stock certificates to the Optionee. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;10.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;Further Assurances.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;From time to time and upon request by the Company, the Optionee agrees to
execute such additional documents as the Company may reasonably require in order to effect the purposes of the Plan and this Agreement. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;Binding Effect.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;This Agreement shall be binding upon the Optionee and the Optionee's heirs,
successors and assigns, including the Qualified Successor of the Optionee (as that term is defined in Section&nbsp;10.2 of the Plan). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;12.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;Waivers/Modifications.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;No waivers, alterations or modifications of this Agreement shall be valid
unless in writing and duly executed by the party against whom enforcement of such waiver, alteration or modification is sought. The failure of any party to enforce any of its rights against the other
party for breach of any of the terms of this Agreement shall not be construed a waiver of such rights as to any continued or subsequent breach. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;13.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;Governing Law.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;This Agreement shall be governed by the laws of the State of Oregon. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written. </FONT></P>

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<TD COLSPAN=3><FONT SIZE=2>GARDENBURGER,&nbsp;INC.:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="46%"><FONT SIZE=2>OPTIONEE:</FONT></TD>
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By:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="46%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
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&nbsp;</FONT></TD>
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<TD WIDTH="46%"><FONT SIZE=2>Alexander P. Coleman<BR>
Administrative Committee Member</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="46%"><FONT SIZE=2>Scott C. Wallace</FONT></TD>
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