EXHIBIT 10.2
Certain portions of this agreement, for which confidential treatment has been
requested,
have been omitted and filed separately with the Securities and Exchange
Commission.
Sections of the agreement where portions have been omitted have been identified
in the text
BIFURCATION AND PARTIAL ASSIGNMENT AND ASSUMPTION AGREEMENT
     This BIFURCATION AND PARTIAL ASSIGNMENT AND ASSUMPTION AGREEMENT (this
“Agreement”) is made by and among Impress Group, B.V., having a place of
business at Zutphenseweg 51051, 7418 AH Deventer, The Netherlands (“Impress”),
Del Monte Corporation, having a place of business at One Market, San Francisco,
California, 94105 (“Del Monte”), and Starkist Co., having a place of business at
375 North Shore Drive, Pittsburgh, PA 15212 (“StarkistCo”). This Agreement shall
become effective (the “Effective Date”) as of the closing of the transactions
under the Purchase Agreement by and among Del Monte, Starkist Co., Dongwon
Enterprise Co., Ltd., a Republic of Korea corporation with limited liability
(“Dongwon Enterprise”), Dongwon Industries Co., Ltd., a Republic of Korea
corporation with limited liability (“Dongwon Industries”), Dongwon F&B Co.,
Ltd., a Republic of Korea corporation with limited liability (“Dongwon F&B” and
together with Starkist Co, Dongwon Enterprise and Dongwon Industries, the
“Buyer”) and Starkist Samoa Co., a Delaware corporation, dated as of June 30,
2008 (the “Purchase Agreement”), which provides for the sale to Buyer of all of
Del Monte’s (1) seafood business currently operated under the StarKist brand
(“StarKist”) and (2) private label seafood products business (“PLS”) (StarKist
and PLS shall be referred to collectively as the “Business”). Capitalized terms
used in this Agreement and not otherwise defined herein shall have the meaning
ascribed to them in the Supply Agreement, as defined below.
     WHEREAS, Impress and Del Monte are parties to that certain Amended and
Restated Supply Agreement effective January 1, 2008, attached hereto as
Exhibit F, pursuant to which Impress sells to Del Monte and Del Monte purchases
from Impress metal cans and ends for use in the packaging of Del Monte’s wet pet
food and seafood at certain of Del Monte’s facilities (including all amendments,
waivers, exhibits and schedules thereto effective as of the date hereof, the
“Supply Agreement”); and
     WHEREAS, the parties hereto desire to bifurcate and partially assign the
Supply Agreement such that, as of the Effective Date, (a) the Supply Agreement
shall be bifurcated to the extent relating to the operation of the Business, as
such Business is assigned to Buyer hereunder, (b) Buyer shall assume the rights
and obligations under the Supply Agreement to the extent relating to the
operation of the Business, and (c) Impress consents to the bifurcation of the
Supply Agreement and the partial assignment and assumption of the rights and
obligations thereof by Buyer and agrees to the assumption by Buyer of the rights
and obligations under the Supply Agreement relating to the operation of the
Business, all in accordance with the terms hereof.
     NOW, THEREFORE, in consideration of the mutual covenants and agreements
contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties agree as follows:
     1. Bifurcation — General. Pursuant to the terms of the Purchase Agreement,
and subject to the terms and conditions of this Agreement, (i) Del Monte hereby
assigns, sells,

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transfers and sets over to Buyer, and Buyer hereby becomes a party to the Supply
Agreement with respect to all of Del Monte’s rights under the Supply Agreement
fully to the extent relating to the Business (the “Assigned Rights”), and
(ii) Buyer hereby assumes and becomes a party to the Supply Agreement with
respect to all of Del Monte’s burdens, liabilities and obligations under the
Supply Agreement fully to the extent relating to the Business (the “Assumed
Liabilities”). Del Monte shall remain responsible and liable for all other
rights burdens, liabilities and obligations under the Supply Agreement that are
not assigned to and/or assumed by Buyer hereunder (the “Retained Business”).
     2. Specific Bifurcation Provisions. Without limiting the generality of the
assignment and assumption of the Assigned Rights and Assumed Liabilities
pursuant to Section 1 of this Agreement, certain specific provisions of the
Supply Agreement shall be addressed herein as follows:
          (a) Transferred Facilities. Del Monte will transfer, assign and
delegate, as part of the Business, all of its rights, burdens, liabilities and
obligations in and to those DLM Facilities, as defined in the Supply Agreement,
set forth on Exhibit A hereto wherein the Business is currently conducted (the
“Transferred Facilities”). Buyer agrees to assume all liabilities and
obligations set forth in the Supply Agreement pertaining to such Transferred
Facilities, including but not limited to the maintenance of applicable leases
and subleases as the case may be as well as any costs associated with the
closure or relocations of such Transferred Facility after the Effective Date.
          (b) Puerto Rico Facility. Del Monte shall retain all rights and
obligations relating to that certain Lease, Sub-Lease and Services Agreement by
and between H.J. Heinz Company, Star-Kist Caribe, Inc., Impress Metal Packaging
Holdings, B.V. and Impress Packaging Puerto Rico, Inc., dated August 13, 2000,
as amended by the First Amendment to Lease, Sub-Lease and Services Agreement for
the Puerto Rico Facility dated as of 2002 (the “Sublease”), as referenced in
Section 4.15 of the Supply Agreement, for the Impress Facility located at
Mayaguez, Puerto Rico. As between Del Monte and Buyer, as of the Effective Date,
Buyer shall be required to reimburse Del Monte for Del Monte’s actual costs and
expenses, reasonably documented, related to or arising from the Sublease after
the Effective Date within sixty (60) days of Del Monte’s payment of such costs
or expenses.
          (c) Buyer Products. As of the Effective Date, Impress shall supply to
Buyer, and Buyer shall purchase from Impress, all those Products, as defined in
the Supply Agreement, that relate to, or are used in, the Business (the “Buyer
Products”) pursuant to the terms of the Supply Agreement. A list of current
Buyer Products for the Business is set forth on Exhibit B which includes (a) the
current invoice price, (b) the amounts to be used in calculating the Annual Net
Adjusting Payment described below, (c) the Profit Bank, and (d) the annual
Baseline Volume.
          (d) Baseline Volumes and Historical Delivery Volumes. Subject to the
terms and conditions of this Agreement and the Supply Agreement, Del Monte
hereby agrees to assign and Buyer hereby agrees to assume all those rights and
obligations associated with the Baseline Volumes as described in Sections 4.10 —
4.12 of the Supply Agreement and the Historical Delivery Volumes described in
Section 3.1(b) of the Supply Agreement, for those Buyer

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Products and for those volumes set forth on Exhibit B. As of the Effective Date,
Del Monte’s rights and obligations with respect to the Baseline Volumes and the
Historical Delivery Volumes shall be reduced by the amount of the Baseline
Volumes and the Historical Delivery Volumes assigned to and assumed by Buyer
pursuant to this Agreement and Buyer’s rights and obligations with respect to
the Baseline Volumes and the Historical Delivery Volumes shall reflect the
amount of the Baseline Volumes and the Historical Delivery Volumes assigned to
and assumed by Buyer pursuant to this Agreement.
          (e) Annual Net Adjusting Payment and Profit Bank. For the Balance of
the Current Period, as defined in the Supply Agreement, Buyer shall assume the
obligations set forth in Section 4.5 of the Supply Agreement relating to the
Volume Excess/Shortfall and the Annual Profit Excess/Shortfall for the Business
based on the Baseline Volumes described above and set forth on Exhibit B. Del
Monte shall continue its obligations under Section 4.5 of the Supply Agreement
for the Retained Business. The Annual Volume Excess/Shortfall and the Annual
Profit Excess/Shortfall used to determine the Annual Net Adjusting Payment shall
be calculated separately for Del Monte and Buyer. As of the Effective Date, the
portion of the Profit Bank related to the Business shall be allocated as set
forth on Exhibit B and shall be used to calculate the Annual Profit
Excess/Shortfall for Buyer and the remaining portion of the Profit Bank shall be
used to calculate the Annual Profit Excess/Shortfall for Del Monte, each as
described below.
               i. If the aggregate amount of Profit earned by Impress for a
Fiscal Year for Del Monte Products results in an Annual Profit Excess, as
calculated under the Supply Agreement, Impress shall pay Del Monte such excess
up to $[***]* of any such excess plus [***]*% of any portion of such excess over
$[***]*. Conversely, if the aggregate amount of Profit earned by Impress for a
Fiscal Year for Del Monte Products results in an Annual Profit Shortfall, as
calculated under the Supply Agreement, Del Monte shall pay Impress such excess
up to $[***]* of any such excess plus [***]*% of any portion of such excess over
$[***]*.
               ii. If the aggregate amount of Profit earned by Impress for a
Fiscal Year for Buyer Products results in an Annual Profit Excess, as calculated
under the Supply Agreement, Impress shall pay Buyer such excess up to $[***]* of
any such excess plus [***]*% of any portion of such excess over $[***]*.
Conversely, if the aggregate amount of Profit earned by Impress for a Fiscal
Year for Buyer Products results in an Annual Profit Shortfall, as calculated in
the Supply Agreement, Buyer shall pay Impress such excess up to $[***]* of any
such excess plus [***]*% of any portion of such excess over $[***]*.
          (f) Cost Savings Projects. Del Monte hereby agrees to assign to Buyer
and Buyer agrees to assume all rights and obligations of those Cost Savings
Projects, as described in Section 4.3(c) of the Supply Agreement, that relate to
the Business (the “Buyer Cost Savings Projects”). All such Buyer Cost Savings
Projects are set forth on Exhibit C attached hereto.
          (g) Additional Investments. Del Monte hereby agrees to assign to Buyer
and Buyer agrees to assume all rights and obligations in connection with those
additional investments related to the Business which are currently being made by
Impress on behalf of Del Monte and for which Impress is earning a Base Return in
accordance with Section 3.2 of the Supply Agreement (the “Buyer Additional
Investments”). All such Buyer Additional Investments
 

*   CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND HAS BEEN FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION.

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along with the annual Base Return amounts earned by Impress for each are set
forth on Exhibit D attached hereto.
          (h) Facility Shutdown. The parties agree that Del Monte shall assign
to Buyer and Buyer shall assume those obligations set forth in Section 4.13 of
the Supply Agreement with respect to the Transferred Facilities. Del Monte shall
retain liability for those Facilities not transferred to Buyer, including,
without limitation, all obligations pertaining to the Impress Terminal Island
Facility as described in Section 4.14 of the Supply Agreement, subject to the
provisions of subsection (i) below.
          (i) Terminal Island Facility. To the extent that Impress is entitled
to be reimbursed for any costs, expenses or losses pursuant to Sections 4.13 and
4.14 of the Supply Agreement, Del Monte shall be liable for such costs, expenses
or losses payable to Impress. As between Del Monte and Buyer, Buyer shall be
required to reimburse Del Monte for Buyer’s pro rata share of such costs,
expenses or losses within sixty (60) days of Del Monte’s payment to Impress.
Buyer’s pro rata share shall be determined based upon the Buyer’s percent of the
total production of the Impress Terminal Island Facility related to the Business
for the twelve months preceding the date the lease for the Terminal Island
Facility is terminated. Buyer shall be required to reimburse Del Monte such that
neither Del Monte’s nor Buyer’s liability under this Section 2(i) shall exceed
their respective pro rata share of the reimbursement to Impress and in no event
shall the aggregate liability of Del Monte and Buyer exceed the total amount of
costs, expenses and losses as defined in Section 4.13 actually incurred by
Impress.
          (j) Purchase of Impress Equipment upon Termination.
               i. For purposes of this Agreement, the current Schedule 13.7(a)
shall be amended to provide for, and distinguish between, those equipment assets
that relate to the Retained Business and those equipments assets that relate to
the Business assumed by Buyer hereunder, as detailed on the revised
Schedule 13.7(a), attached hereto as Exhibit E.
          (k) Intellectual Property. In the event that the relationship between
Del Monte and Impress is terminated prior to the relationship between Buyer and
Impress such that the exclusive license from Del Monte to Impress for the Triple
Fold End Technology is terminated, Del Monte shall grant Impress a nonexclusive,
royalty-free, license to the Triple Fold End Technology for the sole and
exclusive purpose of producing such ends for Buyer for so long as Buyer
continues to purchase such ends from Impress.
     3. Excluded Provisions. The parties agree that Sections 3.3, 4.6 and 9.3
(a) of the Supply Agreement shall not be assigned to, or assumed by Buyer (the
“Deleted Sections”) and Buyer shall have no rights or obligations under the
Deleted Sections with the same effect as if the Deleted Sections and all
references thereto were absent from the Supply Agreement.
     4. Consent and Acknowledgment.
          (a) Impress, Del Monte and Buyer hereby consent to (a) the assumption,
and joining as a party to the Supply Agreement, by the Buyer of and with respect
to the rights, burdens, liabilities and obligations under the Supply Agreement
fully to the extent relating to the Business and the assignment by Del Monte to
Buyer of such rights and obligations under the

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Supply Agreement, including Del Monte’s assignment of the Assigned Rights and
Buyer’s assumption of the Assumed Liabilities and (b) the enforcement by Impress
and Buyer, as the case may be, of all the terms and conditions contained in the
Supply Agreement to the extent relating to the operation of the Business.
Impress agrees and acknowledges that Buyer’s Assigned Rights and Assumed
Liabilities under the Supply Agreement shall not be affected or limited by a
breach of the Supply Agreement by Del Monte or any other party thereto. Impress
and Del Monte hereby each represent that (a) the Supply Agreement is in full
force and effect and (b) to the actual knowledge of Impress and Del Monte, as
the case may be, neither Impress nor, Del Monte is in default under the Supply
Agreement. Each of Impress and Del Monte represent that the Supply Agreement has
not been modified or amended prior to the date hereof.
          (b) Impress, Del Monte and Buyer each agree to treat the Supply
Agreement as bifurcated and partially assigned and delegated as set forth in
Sections 1, 2, 3 and 4 above. Without limiting the generality of the foregoing,
Impress and Buyer shall hereafter communicate directly with each other with
respect to all matters pertaining to the Assigned Rights and Assumed Liabilities
under the Supply Agreement and with respect to the operation of the Business,
except for those communications related to the Business that are necessary
between Del Monte, Buyer and Impress in order to effect the terms of the
Operating Services Agreement and the Transition Services Agreement as each term
is defined in the Purchase Agreement.
     5. Mutual Acceptance. Buyer hereby accepts and agrees to be bound by the
terms and conditions of the Supply Agreement as described in Sections 1, 2, 3
and 4 above. Del Monte hereby agrees to continue to be bound by the terms and
conditions of the Supply Agreement as described in Sections 1, 2, 3 and 4 above.
     6. Disclaimer and Release. With respect to all Assigned Rights and Assumed
Liabilities under the Supply Agreement that are assigned to, delegated to and
assumed by Buyer hereunder, Del Monte hereby, without any further action,
disclaims any such Assigned Rights and is released from such Assumed Liabilities
under the Supply Agreement, and Buyer shall have the sole right and
responsibility in connection therewith; provided, however, that notwithstanding
anything to the contrary herein, Buyer shall not retain any liability of any
kind arising prior to the date hereof and in connection with any right or
obligation of Del Monte, including with respect to any Assigned Rights and
Assumed Liabilities or, for the avoidance of doubt, the Retained Business. Del
Monte’s rights and obligations under the Supply Agreement shall not be affected
or limited by a breach of the Supply Agreement by any other party hereto.
     7. Fulfillment of Purchase Agreement. As between Del Monte and Buyer,
without regard to Impress (it being understood and agreed that the terms of this
Section 7 shall in no way impact or effect Impress or its ability to exercise
its rights under the Supply Agreement:
          (a) This Agreement is intended to fulfill the terms of the Purchase
Agreement and is not intended to expand, contract or amend the terms and
obligations thereof. In the event of any conflict or ambiguity between the terms
of this Agreement and the Purchase Agreement, the terms of the Purchase
Agreement shall prevail.
          (b) During the current term of the Supply Agreement (excluding any
extension of the Supply Agreement by Buyer), Del Monte shall cooperate with
Buyer in the

5

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exercise of Buyer’s rights under the Supply Agreement (pursuant to Sections 1,
2, 3 and 4 hereof) to obtain the Assigned Rights and Assumed Liabilities. In
connection with the foregoing agreement to cooperate, Del Monte shall share such
information and records regarding the Supply Agreement as Buyer reasonably
requests in writing and as Del Monte may have a right to share. Notwithstanding
anything in this Section 7(b) to the contrary, Del Monte shall have no
obligation to incur any material expenses or pay any material consideration to
any third party in the fulfillment of Del Monte’s obligation to cooperate set
forth in this Section 7(b).
     8. Confidentiality. Each of the parties hereto and their representatives (a
“Receiving Party”) shall not, except as necessary in order to perform its
obligations or with the prior written consent of the other party (a “Disclosing
Party”), reveal, disclose or provide access to a Disclosing Party’s Confidential
Information (as defined below) disclosed pursuant to this Section 8.
Notwithstanding the immediately preceding sentence, each party shall be free to
reveal, disclose or provide its professional advisors access to Confidential
Information in order to provide advice. As used herein, “Confidential
Information” shall mean any nonpublic, proprietary information and other
confidential information or materials (whether oral or written) disclosed
pursuant to this Section 8, including but not limited to, pricing information,
formulae, descriptions, specifications and the like that is provided or
communicated by the Disclosing Party to a Receiving Party after the date hereof.
Notwithstanding the foregoing, Confidential Information shall not include
information: (i) known to the Receiving Party at the time of such disclosure by
the Disclosing Party; (ii) publicly available through sources entitled to
disclose such information, (iii) disclosed to the Receiving Party in good faith
by another party having the right to disclose such information; (iv) required to
be disclosed pursuant to any law, subpoena or document discovery request; or
(v) independently developed by the Receiving Party as evidenced by records kept
in the ordinary course of the Receiving Party’s business; provided that, to the
extent legally permitted, the Receiving Party shall inform the Disclosing Party
of such requirement as soon as possible, reasonably cooperate with any attempts
by the Disclosing Party to obtain a protective order or similar relief and
disclose only so much Confidential Information necessary to satisfy the
requirement.
     9. Term.
          (a) This Agreement shall commence as of the Effective Date and shall
remain in effect unless and until the Purchase Agreement is terminated as
provided therein. Upon the Closing, as defined in the Purchase Agreement, this
Agreement shall be incorporated into and become part of the bifurcated portion
of the Supply Agreement as between Del Monte and Impress and part of the
bifurcated portion of the Supply Agreement as between Buyer and Impress and
shall continue in each case until such time as the respective bifurcated Supply
Agreement(s) expire or are terminated in accordance with the terms thereof.
          (b) In the event this Agreement is terminated as a result of the
termination of the Purchase Agreement, all Assigned Rights and all Assumed
Liabilities purported to have been transferred hereunder shall revert to Del
Monte immediately upon such termination and the relationship between Del Monte
and Impress shall resume as if this Agreement was null and void from the time of
execution. As of such termination, Buyer shall no longer have any rights or
obligations under the terms of the Supply Agreement and shall no longer be a
party thereto. The

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forgoing notwithstanding, Sections 6, 7, 7(a), 8, 9(b), 13 and 18 of this
Agreement shall survive any termination of this Agreement.
     10. Certain Covenants.
          (a) Del Monte covenants that (i) it will not seek to amend or modify
the Supply Agreement in any manner which could reasonably affect or change the
Assigned Rights and Assumed Liabilities, including without limitation, the
pricing under the Supply Agreement with respect to the Business or Buyer’s
ability to enforce the Supply Agreement as a party thereto, (ii) it will not
seek to extend or terminate the duration of the Supply Agreement to the extent
such extension or termination could reasonably affect or change the Assigned
Rights and Assumed Liabilities or Buyer’s ability to enforce the Supply
Agreement as a party thereto, and (iii) it will not assert a breach under the
Supply Agreement against Impress or seek related damages thereunder to the
extent that such asserted breach against Impress relates to the Assigned Rights
and Assumed Liabilities, in each case, without first seeking the written consent
of Buyer, which shall not be unreasonably withheld or delayed.
          (b) Del Monte covenants it will reasonably cooperate with Buyer, at
Buyer’s expense (such expense shall be reasonable and reimbursable upon Del
Monte’s presentation of reasonable back-up documentation), to the extent Buyer
asserts that Impress has breached the terms of the Supply Agreement to the
extent that such asserted breach against Impress relates to the Assigned Rights
and Assumed Liabilities, including without limitation, seeking damages or other
redress pursuant to the terms of the Supply Agreement.
     11. Further Actions. Each of the parties hereto agrees to execute,
acknowledge and deliver, or cause the execution, acknowledgement and delivery
of, such further documents and instruments and to perform such other reasonable
actions as may reasonably be requested by a party hereto in order to effect the
purposes of this Agreement.
     12. Notices. Any notice, request or other communication pursuant to this
Agreement must be given in writing to the addressees set forth below and shall
be deemed to have been duly delivered (a) on the date delivered if delivered
personally, (b) on the date (i) three (3) business days after delivery to a
reputable nationally recognized overnight courier service or (ii) fourteen
(14) days after being mailed by registered or certified mail (return receipt
requested) to the parties at the following addresses (or at such other address
for a party as shall be specified by like notice), or (c) on the date of
facsimile transmission (determined from the time zone of the address of the
recipient set forth below) if transmitted prior to 5:00 p.m. local time of the
recipient on a business day (provided that confirmation of receipt of such
telecopy transmission is confirmed by the recipient on such date):

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Impress Group, B.V.
Zutphenseweg 51051
7418 AH Deventer
The Netherlands

Telephone:  
31-570-682-000 (The Netherlands)
   
33-1-45-19-18-00 (France)
Facsimile:  
31-570-682-053 (The Netherlands)
   
33-1-45-19-18-39 (France)
Attention:  
Group General Counsel

With a required copy (which shall not constitute the required notice) to:
Cohen & Grigsby, P.C.
625 Liberty Avenue
Pittsburgh, PA 15222-3152

Telephone:  
412-297-4741
Facsimile:  
412-394-4241

Del Monte Corporation
One Market
San Francisco, CA 94105

Telephone:  
415-247-3262
Facsimile:  
415-247-3263
Attention:  
General Counsel

Starkist Co.
375 North Shore Drive
Pittsburgh, PA 15212-5922

Attention:  
Donald J. Binotto
Telephone:  
412.600.9294

With a required copy (which shall not constitute the required notice) to:
Simpson Thacher & Bartlett LLP
ICBC Tower, 35th Floor
3 Garden Road, Central
Hong Kong SAR, China

Attention:  
Jin Hyuk Park
Telephone:  
852.2514.7600
Facsimile:  
852.2869.7694

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     13. Governing Law. This Agreement and the respective rights and obligations
of the parties hereunder shall be governed and construed in accordance with the
laws of the Commonwealth of Pennsylvania, without giving effect to the conflict
of laws provisions of that or any other jurisdiction.
     14. Assignment. This Agreement may only be assigned in accordance with
Section 14.4 of the Supply Agreement as part of an authorized assignment
thereof.
     15. Entire Agreement. Subject to Section 7 above with respect to Del Monte
and Buyer, this Agreement constitutes the entire agreement of the parties hereto
with respect to the assignment and bifurcation of the Supply Agreement and
supercedes any and all other agreements, either oral or in writing, among the
parties hereto with respect to the subject matter hereof. The Supply Agreement
is attached hereto as Exhibit F, including any and all amendments, waivers,
exhibits and schedules thereto.
     16. General. Impress, Del Monte and Buyer agree to use their good faith
efforts to fairly and equitably allocate the rights and obligations of Del Monte
and Buyer under the Supply Agreement in accordance with the terms hereof,
including without limitation, each party’s respective percentage of Products
purchased pursuant to this Agreement.
     17. Subsidiaries. Each party may choose to implement or perform their
respective obligations hereunder through one or more of their wholly-owned
subsidiaries.
     18. Miscellaneous. This Agreement may not be modified except by an
instrument in writing executed by the parties hereto. This Agreement may be
executed in one or more counterparts and by facsimile, each of which shall be
deemed an original and all of which, taken together, shall constitute one and
the same instrument. The waiver by either party of any default, breach, or right
of this Agreement shall not constitute a waiver of any other or subsequent
default, breach, or right. Section and paragraph headings in this Agreement are
included herein for convenience of reference only and shall not modify, define,
expand or limit any of the terms or provisions of this Agreement. Capitalized
terms used herein and not otherwise defined shall have the respective meanings
given to them in the Supply Agreement.
[Signature Page Follows]

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     IN WITNESS WHEREOF, the parties hereto have executed this Bifurcation and
Partial Assignment and Assumption Agreement to be effective as of the Effective
Date.

            IMPRESS GROUP, B.V.
      By:        /s/ Francis Labbe       Name: Mr. Francis Labbe      Title:
Chief Executive Officer        DEL MONTE CORPORATION
      By:        /s/ David L. Meyers       Name: Mr. David L. Meyers      Title:
Executive Vice President,
Administration and Chief
Financial Officer        STARKIST CO.
      By:        /s/ Ingu Park       Name: Mr. Ingu Park      Title: President 
   

[Signature Page to Bifurcation and Partial Assignment and Assumption Agreement]

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EXHIBIT A
FACILITIES
Transferred Facilities:
Pago Pago, American Samoa, United States

A-1

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EXHIBIT B
BUYER PRODUCTS
Invoice Price
FY09 Prices — Effective May 1, 2008

                                                                               
                                                                               
                                      FY07/FY08                                
                                            Historical                          
                                          Baseline   Delivery   Metal   Other
material   Transfer   Transfer Conv. Costs   Conversion Costs         Others    
    Buyer Products   Source   Volume   Volume   Sheet   Tab stock   Coat/comp.  
other   Sheet   Ends   Other mat.   Sheets   Ends   Direct Lab.   VOH   FOH  
SG&A   Profit   SS   syn/depr.   frgt+pkg   $4.3 price adju   FY ’09 price
Samoa
                                                                               
                                                                               
               
307 x 105.5 Can
  American Samoa     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *     [***] *     [***] *     [***] *     [***] *
    [***] *     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *
401 x 201 Can
  American Samoa     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *     [***] *     [***] *     [***] *     [***] *
    [***] *     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *
211 x 107 Can
  Puerto Rico     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *     [***] *     [***] *     [***] *     [***] *
    [***] *     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *
307 End Clear
  Terminal Island     [***] *     [***] *     [***] *     [***] *     [***] *  
  [***] *     [***] *     [***] *     [***] *     [***] *     [***] *     [***]
*     [***] *     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *
307 EZO End- Gold
  Bloomsburg     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *     [***] *     [***] *     [***] *     [***] *
    [***] *     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *
401 End
  Terminal Island     [***] *     [***] *     [***] *     [***] *     [***] *  
  [***] *     [***] *     [***] *     [***] *     [***] *     [***] *     [***]
*     [***] *     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *
211 SPE End
  Bloomsburg     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *     [***] *     [***] *     [***] *     [***] *
    [***] *     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *
307x108 Can
  Terminal Island     [***] *     [***] *     [***] *     [***] *     [***] *  
  [***] *     [***] *     [***] *     [***] *     [***] *     [***] *     [***]
*     [***] *     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *
 
                                                                               
                                                                               
               
Ecuador
                                                                               
                                                                               
               
211 SPE End
  Bloomsburg     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *     [***] *     [***] *     [***] *     [***] *
    [***] *     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *
307 EZO End-Clear
  Bloomsburg     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *     [***] *     [***] *     [***] *     [***] *
    [***] *     [***] *     [***] *     [***] *     [***] *     [***] *    
[***] *     [***] *     [***] *
 
            [***] *     [***] *                                                
                                                                               
                       

                                                                               
      TRANSFER DETAIL           Metal   Other material   Transfer   Transfer
Conv. Costs   Conversion Costs   Others       Buyer Products   Source      
Sheet   Tab stock   Coat/comp.   other   Sheet   Ends   Other mat.   Sheets  
Ends   Direct Lab.   VOH   FOH   SG&A   Profit   SS   syn/depr.   frgt+pkg  
$4.3 price adju   FY ’09 price
   Samoa
                                                                               
   
211 SPE End
  Bloomsburg   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*  
[***]*   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*  
[***]*   [***]*   [***]*   [***]*
307 EZO End-Gold
  Bloomsburg   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*  
[***]*   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*  
[***]*   [***]*   [***]*   [***]*
 
                                                                               
   
   Ecuador
                                                                               
   
211 SPE End
  Bloomsburg   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*  
[***]*   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*  
[***]*   [***]*   [***]*   [***]*
307 EZO End-Clear
  Bloomsburg   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*  
[***]*   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*   [***]*  
[***]*   [***]*   [***]*   [***]*

Amounts for purposes of calculating year-end adjustments — Volume Fixed Costs
Excess/Shortfalls — Sections 4.5(c) and 4.5(d)

            Buyer Products          
Samoa
       
307 x 105.5 Can
    [***] *
401 x 201 Can
    [***] *
211 x 107 Can
    [***] *
307 End Clear
    [***] *
307 EZO End
    [***] *
401 End
    [***] *
211 SPE End
    [***] *
307x108 Can
    [***] *
 
       
Ecuador
       
211 SPE End
    [***] *
307 EZO End-Clear
    [***] *

Amounts for purposes of calculating year-end adjustments — Profit
Excess/Shortfall — Sections 4.5(f) and 4.5(g)

         
Profit Bank Amount Allocated to Buyer Products for purposes of Calculating
year-end Adjustments-
  [***]*   FY08 Amount
 
  [***]*   FY09 Final Amount

            Buyer Products     Profit       
Samoa
       
307 x 105.5 Can
    [***] *
401 x 201 Can
    [***] *
211 x 107 Can
    [***] *
307 End Clear
    [***] *
307 EZO End-Gold
    [***] *
401 End
    [***] *
211 SPE End
    [***] *
307x108 Can
    [***] *
 
       
Ecuador
       
211 SPE End
    [***] *
307 EZO End-Clear
    [***] *

 

*   CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND HAS BEEN FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION.

B-1

--------------------------------------------------------------------------------

 

EXHIBIT C
BUYER COST SAVINGS PROJECTS

                                                      Annualized     Good Faith
                      estimated savings     Estimated                       at
Baseline     Savings $ /   Projects in Process FY08 — Seafood                  
Volumes — $K     000 units  
211 SPE Tab reduction ([***]*)
  BLO     2007-12     $ [***] *   $ [***] *
Sub-Total New Projects
                  $ [***] *        

 

*   CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND HAS BEEN FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION.

C-1

--------------------------------------------------------------------------------

 

     
EXHIBIT D
BUYER ADDITIONAL INVESTMENTS

                                                                               
                                                                               
                                                                         
Impress USA   Seafood Projects                                                  
                                                                               
                            Full Year                                          
                                                                               
                                                  Complet     Years of    
Depreciation /                                                                  
                                                              Capital No.  
PROJECT NAME     Plant     Gross Spending     Alloc / Adj     Spending     Date
    Depr.     ROI     Fy 06     Fy 07     Fy 08     Fy 09     Fy 10     Fy 11  
  Fy 12     Fy 13     Fy 14     Fy 15     Fy 16     Fy 17     Fy 18     Fy 19  
  Fy 20     Fy 21     Fy 22     Fy 23     Fy 24     Fy 25     Fy 26            
                                                          15%     15%     15%  
  15%     15%     15%     15%     15%     15%     15%     15%     15%     15%  
  15%     15%     15%     15%     15%     15%     15%     15%  
01USA081
  Samoa Warehousing Phase I   SAM                   $ [***] *   Jan 02     25  
  $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $
[***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *
  $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $
[***] *   $ [***] *   $ [***] *
 
                                                          ROI   $ [***] *   $
[***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *
  $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $
[***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *
01USA081A
  Samoa Warehousing Phase II   SAM                   $ [***] *   Jun 02     7  
  $ [***] *   $ [***] *   $ [***] *   $ [***] *                                
                                                                               
                               
 
                                                          ROI   $ [***] *   $
[***] *   $ [***] *                                                            
                                                                               
   
02USA301
  Samoa Vision   SAM                   $ [***] *   May 02     5     $ [***] *  
$ [***] *   $ [***] *                                                          
                                                                               
             
 
                                                          ROI   $ [***] *   $
[***] *                                                                        
                                                                               
Subtotal FY06 and earlier projects
                                  ROI           $ [***] *   $ [***] *   $ [***]
*   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $
[***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *
  $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *
 
  307 EZO for Samoa   SAM                                                      
                                                                               
                                                                               
 
 
  Dies                           $ [***] *             5     $ [***] *          
$ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *          
                                                                               
                     
 
  Commissioning                           $ [***] *             5     $ [***] *
          $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *
                                                                               
                               
 
                                  $ [***] *   Dec 06     41.7 %   $ [***] *    
      $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *    
                                                                               
                           
 
                                                          Total ROI           $
[***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *            
                                                                               
                   
Subtotal FY07
                                  ROI                   $ [***] *   $ [***] *  
$ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***]
*   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $
[***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *
 
  [***]* Body Plate gauge Reduction from [***]* to [***]*   SAM           Alloc
  Spending           Years of Depr.   Full Year Depr.                   FY08  
FY09   FY10   FY11   FY12   FY13   FY14   FY15   FY16   FY17   FY18   FY19  
FY20   FY21   FY22                                
 
  Equipment           $ [***] *     [***] *%   $ [***] *             15     $
[***] *                   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $
[***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *
  $ [***] *   $ [***] *   $ [***] *   $ [***] *                                
 
  Commissioning           $ [***] *     [***] *%   $ [***] *             5     $
[***] *                   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $
[***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *
  $ [***] *   $ [***] *   $ [***] *   $ [***] *                                
 
                  $ [***] *           $ [***] *   Nov 07           $ [***] *    
              $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $
[***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *
  $ [***] *   $ [***] *   $ [***] *                                
 
                                                          Total ROI            
      $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $
[***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *
  $ [***] *   $ [***] *   $ [***] *                         Subtotal FY08      
                                                            $ [***] *   $ [***]
*   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $
[***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *
  $ [***] *   $ [***] *   $ [***] *   $ [***] * Samoa [***]* Conversion to
[***]* High Can project                                                        
                                                                               
                                                               
 
                  Spending   DM %   Spending           Years of Depr.   Full
Year Depreciation                           FY09   FY10   FY11   FY12   FY13    
                                                                               
                   
 
  Tooling           $ [***] *     [***] *%   $ [***] *             5     $ [***]
*                           $ [***] *   $ [***] *   $ [***] *   $ [***] *   $
[***] *                                                                        
                               
 
  Equip           $ [***] *     [***] *%   $ [***] *             15     $ [***]
*                           $ [***] *   $ [***] *   $ [***] *   $ [***] *   $
[***] *                                                                        
                               
 
  Exp           $ [***] *     [***] *%   $ [***] *             5     $ [***] *  
                        $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***]
*                                                                              
                          [***]*%   Comm           $ [***] *     [***] *%   $
[***] *             5     $ [***] *                           $ [***] *   $
[***] *   $ [***] *   $ [***] *   $ [***] *                                    
                                                                   
 
                  $ [***] *     [***] *%   $ [***] *                   $ [***] *
                          $ [***] *   $ [***] *   $ [***] *   $ [***] *   $
[***] *                                                                        
                               
 
                                                  ROI     [***] *%              
            $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *          
                                                                               
              Subtotal FY09                                                    
              $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $
[***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *
  $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $ [***] *   $
[***] *

 

*   CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND HAS BEEN FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION.

D-1

--------------------------------------------------------------------------------

 

     
EXHIBIT E
REVISED SCHEDULE 13.7(a)

                                                                               
                                                      Assets for Possible
Purchase or Sale     CONTINUITY EQUIPMENT — Assets for Supply Continuation  
Plant   Assets for Direct Feed     Assets for Direct Supply     Assets for
Direct Supply     Assets to support     Assets required to be     I’m 18 Aseets
at new                               (Major portion >50%)     (Minor portion
<50%)     production     removed     location       Asset     Line     Size    
Asset     Line     Size     Asset     Line     Size     Asset     Line     Size
    Asset     Line     Size          
New Facility
                                                                               
                                          I’m 18 Assets
Del Monte
                                                                               
                                               
Bloomsburg
                                                                               
                                               
 
  Can line     [***] *     [***] *                                              
                            Can line     [***] *   Various        
 
  Can line     [***] *     [***] *                                              
                            Can line     [***] *   Various        
 
  Can line     [***] *     [***] *                                              
                                                         
 
  Can line     [***] *     [***] *                                              
                                                         
 
                                                                               
                                               
 
  Can line     [***] *     [***] *                                              
                                                         
 
  Can line     [***] *     [***] *                                              
                                                         
 
  Can line     [***] *     [***] *                                              
                                                         
 
                          EZO Line     [***] *     [***] *                      
                                                         
 
                          EZO Line     [***] *     [***] *                      
                                                         
 
                                                  EZO Line     [***] *     [***]
*                                                        
Pureto Rico
                                                  Can line     [***] *     [***]
*                                                        
Weirton
                          End press     [***] *     [***] *   End Press    
[***] *     [***] *   Coil Line           Various                              
 
 
                          End press     [***] *     [***] *                    
      Print line     [***] *   Various                                
 
                                                                          Coater
    [***] *   Various                                
 
                                                                          Coater
    [***] *   Various                                
Terminal Island
                          End Press     [***] *     [***] *                    
      Coater                   Coater           Various        
Starkist
                                                                               
                                               
Terminal Island
                          End Press     [***] *     [***] *                    
      Coil line                   Coil line           Various        
 
                                                  End Press     [***] *    
[***] *                           Coater           Various        
 
                                                                               
                  Coater           Various        
 
                                                                               
                  End press     [***] *                
 
                                                                               
                  Can line     [***] *     [***] *        
 
                                                                               
                  Can line     [***] *     [***] *        
Samoa
  Can line     [***] *     [***] *                           Can line     [***]
*     [***] *                           Can line     [***] *     [***] *        
 
  Can line     [***] *     [***] *                                              
                            Can line     [***] *     [***] *        
 
  Can line     [***] *     [***] *                                              
                                                         
 
  Assets available for sale to Del Monte relaive to 13.7   Assets available for
sale to Del Monte relaive to 13.7   Assets available for supply continuation for
12 months and assumes lease extension for the same period   Assets available for
supply continuation for 12 months and assumes lease extension for the same
period   Assets available for supply continuation for 12 months and assumes
lease extension for the same period   Assets available for supply continuation
for 12 months and assumes lease extension for the same period

 

*   CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND HAS BEEN FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION.

E-1

--------------------------------------------------------------------------------

 

EXHIBIT F
SUPPLY AGREEMENT
[Incorporated by Reference to Exhibit 10.1 to a Current Report on Form 8-K
As Filed by Del Monte Foods Company on January 28, 2008]

F-1