The J. M. Smucker Company entered into a Separation Agreement with John Brase, former President and Chief Operating Officer, effective February 26, 2026. The agreement includes a lump sum payment of $1,185,000, representing 18 months of his base salary. An additional lump sum payment of $611,885 for his pro rata incentive payment for fiscal year 2026. Specific unvested restricted stock awards (granted June 15, 2023, and April 14, 2020) and an unvested option award (granted June 15, 2023) will vest. A portion of performance units granted on June 15, 2023, and August 13, 2024, will become eligible for vesting, pro-rated based on completed performance months. Other benefits include $36,000 for medical insurance, $150,000 for relocation expenses, and $10,000 for outplacement services. All lump sum payments are scheduled for April 17, 2026. Mr. Brase must exercise vested options by May 10, 2026. The agreement includes cooperation, non-disparagement, non-disclosure, confidentiality, non-competition, and non-solicitation provisions. The terms are consistent with the Company's Executive Severance Plan and equity award agreements.