X0202 4 2006-03-16 0000057528 LANCE INC LNCE 0001240911 GRAGNANI LOUIS R 1107 GLYNWATER LANE WAXHAW NC 28173 0 1 0 0 Vice President - IT/CIO Performance Equity Units 2006-03-16 4 A 0 18000 0 A Common Stock 18000 18000 D Each performance equity unit represents a contingent right to receive one share of the Company's common stock. The performance equity units will vest on December 31, 2010, based on the achievement of certain performance measures with respect to the market price of the Company's common stock pursuant to the terms of the Lance, Inc. 2006 Five-Year Performance Equity Plan for Officers and Senior Managers. Vested shares of common stock will be issued as soon as practicable after performance measures are calculated and approved, generally within 75 days after the end of the Company's 2010 fiscal year. /Louis R. Gragnani, Jr./ by Edward H. Schuth his Attorney-In-Fact 2006-03-20