Exhibit 10.16
                                                      
                             SPLIT-DOLLAR AGREEMENT

     THIS  AGREEMENT  made and entered into this 1st day of September,  1998, by
and among Agribrands  International,  Inc., a corporation with principal offices
and place of business in the State of Missouri  (hereinafter  referred to as the
"Corporation"),  William P.  Stiritz,  an  individual  residing  in the State of
Missouri  (hereinafter  referred to as the "Employee"),  and Fidelity Management
Trust  Company,  Trustee of the William P.  Stiritz 1998  Irrevocable  Insurance
Trust U/A September 1, 1998 (hereinafter referred to as the "Owner"),

     WITNESSETH THAT:

     WHEREAS, the Employee is employed by the Corporation; and

     WHEREAS,  the Employee wishes to provide life insurance  protection for his
family in the event of his death,  under a policy of life insurance insuring his
life (hereinafter referred to as the "Policy"),  which is described in Exhibit A
attached  hereto and by this  reference  made a part hereof,  and which is being
issued by Zurich Kemper Life (hereinafter referred to as the "Insurer"); and

     WHEREAS, the Corporation is willing to pay a portion of the premiums due on
the Policy as an: additional  employment benefit for the Employee,  on the terms
and conditions hereinafter set forth; and

     WHEREAS,  Owner is the owner of the  Policy  and,  as such,  possesses  all
incidents of ownership in and to the Policy; and

     WHEREAS, the Corporation wishes to have the Policy collaterally assigned to
it by the Owner,  in order to secure the  repayment of the amounts which it will
pay toward the premiums on the Policy; and

     NOW, THEREFORE, in consideration of the premises and of the mutual promises
contained herein, the parties hereto agree as follows:

     1. Purchase of Policy. The Owner will contemporaneously purchase the Policy
from the Insurer in the total face amount of  $102,000,000.  The parties  hereto
agree that they will take all necessary action to cause the Insurer to issue the
Policy,  and shall take any further  action  which may be necessary to cause the
Policy to conform to the provisions of this Agreement.  The parties hereto agree
that the Policy shall be subject to the terms and  conditions of this  Agreement
and of the collateral assignment filed with the Insurer relating to the Policy

     2.  Ownership of Policy.  The Owner shall be the sole and absolute owner of
the Policy,  and may exercise all ownership  rights granted to the owner thereof
by the terms of the Policy, except as may otherwise be provided herein.

     3. Payment of Premiums.

     a.  Thirty  (30) days  prior to the due date of each  Policy  premium,  the
Corporation shall notify the Employee and the Owner of the exact amount due from
the  Employee  hereunder,  which shall be an amount  equal to the annual cost of
current life insurance  protection on the life of the Employee,  measured by the
lower  of  the  PS  58  rate,  set  forth  in  Revenue  Ruling  55-747  (or  the
corresponding  applicable  provision  of  any  future  Revenue  Ruling),  or the
Insurer's current  published premium rate for annually  renewable term insurance
for standard risks. Either the Employee or the Owner, on behalf of the Employee,
shall pay such required contribution to the Corporation prior to the premium due
date.  If neither the  Employee  nor the Owner makes such  timely  payment,  the
Corporation, in its sole discretion, may elect to make the Employee's portion of
the premium  payment,  which  payment shall be recovered by the  Corporation  as
provided herein.


<PAGE>

     b. On or before the due date of each  Policy  premium,  or within the grace
period  provided  therein,  the  Corporation  shall  pay the full  amount of the
premium to the Insurer,  and shall, upon request,  promptly furnish the Employee
evidence of timely  payment of such  premium.  The  Corporation  shall  annually
furnish  the  Employee a  statement  of the amount of income  reportable  by the
Employee for federal and state income tax  purposes,  if any, as a result of the
insurance protection provided the Owner as the Policy beneficiary.

     4. Collateral Assignment. To secure the repayment to the Corporation of the
amount of the  premiums  on the  Policy  paid by it  hereunder,  the Owner  has,
contemporaneously   herewith,   assigned  the  Policy  to  the   Corporation  as
collateral,  under  the  form  used by the  Insurer  for such  assignments.  The
collateral  assignment of the Policy to the  Corporation  hereunder shall not be
terminated, altered or amended by the Owner, without the express written consent
of the  Corporation.  The parties  hereto agree to take all action  necessary to
cause such collateral assignment to conform to the provisions of this Agreement.

     5. Limitations on Owner's Rights in Policy.

     a. Except as otherwise  provided herein,  the Owner shall not sell, assign,
transfer,  borrow  against,  surrender  or cancel  the  Policy,  nor  change the
beneficiary  designation  provision  thereof,  without,  in any such  case,  the
express written consent of the Corporation.

     b. Notwithstanding any provision hereof to the contrary,  the Company shall
have the sole  authority  to direct the manner in which the Account  established
pursuant  to the  terms  of the  Policy  shall be  invested  among  the  various
investment  options  from time to time  available  pursuant  to the terms of the
Policy.

Collection of Death Proceeds.

     c. Upon the death of the Employee, the Corporation shall cooperate with the
Owner to take whatever action is necessary to collect the death benefit provided
under the  Policy;  when such  benefit has been  collected  and paid as provided
herein, this Agreement shall thereupon terminate.

     d.  Upon  the  death  of the  Employee,  the  Corporation  shall  have  the
unqualified  right  to  receive  a  portion  of  such  Death  Benefit  equal  to
$100,000,000 plus the total amount of the premiums paid by it hereunder, reduced
by any  outstanding  indebtedness  which was  incurred  by the  Corporation  and
secured by the Policy,  including  any  interest due on such  indebtedness.  The
balance of the Death Benefit  provided  under the Policy,  if any, shall be paid
directly to the Owner in the manner and in the amount or amounts provided in the
beneficiary  designation  provision of the Policy.  In no event shall the amount
payable to the Corporation  hereunder  exceed the Policy  proceeds  payable as a
result of the maturity of the Policy as a death  claim.  No amount shall be paid
from such Death Benefit to the Owner until the final amount due the  Corporation
hereunder  has been paid.  The parties  agree that the  beneficiary  designation
provision of the Policy shall conform to the provisions hereof.

     e. Notwithstanding any provision hereof to the contrary, in the event that,
for any reason whatsoever, no death benefit is payable under the Policy upon the
death of the Employee and in lieu thereof the Insurer refunds all or any part of
the premiums paid for the Policy,  the  Corporation and the Owner shall have the
unqualified  right to share such premiums based on their  respective  cumulative
contributions thereto.

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<PAGE>


     6. Termination of the Agreement During the Employee's Lifetime.

     a. This Agreement shall terminate,  during the Employee's lifetime, without
notice,  upon the occurrence of any of the following events: (a) total cessation
of the Corporation's  business;  (b) bankruptcy,  receivership or dissolution of
the  Corporation;  (c)  termination of Employee's  employment by the Corporation
(other  than by reason of his death),  or (d) failure of the  Employee to timely
pay to the  Corporation  the  Employee's  portion of the  premium,  if any,  due
hereunder,  unless the Corporation  elects to make such payment on behalf of the
Employee, as provided herein.

     b. In addition, the Employee may terminate this Agreement, while no premium
under  the  Policy is  overdue,  by  written  notice  to the  Corporation.  Such
termination shall be effective as of the date of such notice.

     c. In addition,  the  Corporation  may terminate  this Agreement by written
notice to the Owner and the Employee.  Such termination shall be effective as of
the date of such notice.

     7.  Disposition of the Policy on  Termination  of the Agreement  During the
Employee's Lifetime.

     a. For sixty (60) days after the date of the  termination of this Agreement
during the Employee's lifetime, the Owner shall have the option of obtaining the
release of the collateral assignment of the Policy to the Corporation. To obtain
such release,  the Owner shall repay to the  Corporation the total amount of the
premium  payments made hereunder,  less any  indebtedness  secured by the Policy
which was incurred by the Corporation and remains  outstanding as of the date of
such termination,  including any interest due on such indebtedness. Upon receipt
of such amount,  the Corporation shall release the collateral  assignment of the
Policy, by the execution and delivery of an appropriate instrument of release.

     b. If the Owner  fails to exercise  such option  within such sixty (60) day
period,  then,  at the request of the  Corporation,  the Owner shall execute any
document or  documents  required by the Insurer to transfer  the interest of the
Owner in the  Policy to the  Corporation.  Alternatively,  the  Corporation  may
enforce its right to be repaid the amount of the  premiums on the Policy paid by
it from the surrender value of the Policy under the collateral assignment of the
Policy; provided that in the event the surrender value of the Policy exceeds the
amount due the Corporation,  such excess shall be paid to the Owner. Thereafter,
neither the Owner nor the Owner's  successors,  assigns or  beneficiaries  shall
have any further  interest in and to the Policy,  either under the terms thereof
or under this Agreement.

     8.  Insurer Not a Party.  The Insurer  shall be fully  discharged  from its
obligations  under the  Policy by payment  of the  Policy  Death  Benefit to the
beneficiary  or  beneficiaries  named in the  Policy,  subject  to the terms and
conditions of the Policy. In no event shall the Insurer be considered a party to
this Agreement,  or any modification or amendment  hereof.  No provision of this
Agreement,  nor of any  modification  or amendment  hereof,  shall in any way be
construed as  enlarging,  changing,  varying,  or in any other way affecting the
obligations of the Insurer as expressly  provided in the Policy,  except insofar
as the  provisions  hereof  are  made a part  of the  Policy  by the  collateral
assignment  executed  by the Owner  and filed  with the  Insurer  in  connection
herewith.


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<PAGE>

     9.  Named  Fiduciary,  Determination  of  Benefits,  Claims  Procedure  and
Administration.

     a. The  Corporation is hereby  designated as the named fiduciary under this
Agreement.  The named  fiduciary  shall have authority to control and manage the
operation and administration of this Agreement,  and it shall be responsible for
establishing  and carrying out a funding policy and method  consistent  with the
objectives of this Agreement.

     b.  (1)  Claim.  A person  who  believes  that he or she is being  denied a
benefit  to  which  he or she is  entitled  under  this  Agreement  (hereinafter
referred to as a  "Claimant")  may file a written  request for such benefit with
the  Corporation,  setting forth his or her claim. The request must be addressed
to the President of the Corporation at its then principal place of business.

     (2) Claim Decision.  Upon receipt of a claim, the Corporation  shall advise
the Claimant that a reply will be forthcoming within ninety (90) days and shall,
in fact,  deliver such reply within such period.  The Corporation may,  however,
extend the reply period for an additional ninety (90) days for reasonable cause.

     If the claim is denied in whole or in part, the  Corporation  shall adopt a
written  opinion,  using  language  calculated to be understood by the Claimant,
setting  forth:  (a) the  specific  reason or reasons for such  denial;  (b) the
specific  reference  to  pertinent  provisions  of this  Agreement on which such
denial is based;  (c) a description  of any  additional  material or information
necessary  for the Claimant to perfect his or her claim and an  explanation  why
such material or such information is necessary;  (d) appropriate  information as
to the steps to be taken if the Claimant  wishes to submit the claim for review;
and (e) the time limits for  requesting  a review under  subsection  (3) and for
review under subsection (4) hereof.

     (3)  Request  for  Review.  With sixty  (60) days after the  receipt by the
Claimant of the written  opinion  described  above,  the Claimant may request in
writing that the Secretary of the Corporation  review the  determination  of the
Corporation. Such request must be addressed to the Secretary of the Corporation,
at its  then  principal  place  of  business.  The  Claimant  or his or her duly
authorized  representative may, but need not, review the pertinent documents and
submit issues and comments in writing for  consideration by the Corporation.  If
the Claimant does not request a review of the Corporation's determination by the
Secretary of the Corporation  within such sixty (60) day period, he or she shall
be barred and estopped from challenging the Corporation's determination.

     (4)  Review of  Decision.  Within  sixty  (60) days  after the  Secretary's
receipt of a request for review, he will review the Corporation's determination.
After  considering all materials  presented by the Claimant,  the Secretary will
render a written opinion, written in a manner calculated to be understood by the
Claimant,  setting  forth the specific  reasons for the decision and  containing
specific  references to the pertinent  provisions of this Agreement on which the
decision is based. If special circumstances require that the sixty (60) day time
period be extended,  the  Secretary  will so notify the Claimant and will render
the  decision as soon as  possible,  but no later than one hundred  twenty (120)
days after receipt of the request for review.

     10.  Amendment.  This  Agreement  may not be amended,  altered or modified,
except by a written instrument signed by the parties hereto, or their respective
successors or assigns,  and may not be otherwise  terminated  except as provided
herein.


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<PAGE>

     11. Binding  Effect.  This Agreement shall be binding upon and inure to the
benefit of the Corporation and its successors and assigns, and the Employee, the
Owner,   and   their   respective   successors,   assigns,   heirs,   executors,
administrators and beneficiaries.

     12. Notice. Any notice, consent or demand required or permitted to be given
under the provisions of this Agreement shall be in writing,  and shall be signed
by the party  giving or making the same.  If such  notice,  consent or demand is
mailed to a party  hereto,  it shall be sent by United  States  certified  mail,
postage  prepaid,  addressed to such party's last known  address as shown on the
records of the Corporation. The date of such mailing shall be deemed the date of
notice, consent or demand.

     13. Governing Law. This Agreement, and the rights of the parties hereunder,
shall be governed by and construed in  accordance  with the laws of the State of
Missouri.

     IN WITNESS  WHEREOF,  the parties hereto have executed this  Agreement,  in
triplicate, as of the day and year first above written.

                                 AGRIBRANDS INTERNATIONAL, INC.

                                 By: __________________________________
                                     Title:
                                                      "Corporation"
ATTEST:

--------------------------------
Secretary
                                  --------------------------------------
                                  WILLIAM P. STIRITZ
                                                   "Employee"
                
                                  William P. Stiritz 1998 Irrevocable
                                  Insurance Trust U/A Sept. 1., 1998, by
                
                
                                  -----------------------------------------
                                  FIDELITY MANAGEMENT TRUST COMPANY
                                                     "Owner"