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Exhibit
10.32
Summary
of Non-Employee Director Compensation
Ruddick
Corporation (the “Company”) compensates each member of
its Board of Directors (the “Board) who is not an employee of
the Company or its subsidiaries. Effective January 1, 2009,
non-employee directors will receive $34,000 per year for services
as a director, plus $2,000 for each Board meeting or committee
meeting attended. In addition to the general fees for directors
described above, the Chairman of the Audit Committee of the Board
is paid an additional annual fee of $6,000 for services as chairman
of that committee.
Non-employee
directors of the Company may defer the payment of the annual fee
and/or Board meeting fees, pursuant to the Company’s Director
Deferral Plan (the “Deferral Plan”). The deferred fees
are converted into units representing shares of Common Stock of the
Company (the “Common Stock”) with a fair market value
equal to the value of the fees deferred, and the number of units is
then credited to the director’s account, along with
additional units representing the amount of any dividends
or
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