exv10w15



 



Exhibit 10.15



AGRICULTURAL LEASE


             This Agricultural Lease (the “Lease”) is entered into effective the 1st
day of May, 2003 by and between Pilgrim’s Pride Corporation (“Lessor”) with
offices at 110 South Texas Street, Pittsburg, Texas 75686 and Patrick W.
Pilgrim (“Tenant”) Pittsburg, Camp County, Texas.


             The Lessor hereby leases to the Tenant the agricultural properties
described in this Lease and its exhibits in accordance with the terms and
conditions set forth as follows:



	 	1.	 	Leased Premises. The Leases Premises include the properties
set out in the attached Exhibit A. (A total of approximately 1163
acres.)
	 
	 	2.	 	Use of Leased Premises. The Leased Premises are to be used
by Tenant, personally, for his own general agricultural and farming
purposes. The Tenant is an independent contractor and not acting in
the course and scope of an employee of Lessor. The use of the
Leased Premises by Tenant shall not be construed as a joint venture
or other business relationship between Lessor and Tenant, other than
this Lease agreement.
	 
	 	3.	 	Term of Lease. The initial term of this Lease shall be for a
period of one (1) year commencing and effective on May 1, 2003 and
ending on April 30, 2004. This Lease may be extended for like
annual terms by mutual agreement between the Parties. Lease
payments for all subsequent extensions must be prepaid prior to the
commencement of the extension term. Either party may terminate the
Lease with or without cause providing the other party with ninety
(90) days written notice.
	 
	 	4.	 	Rent. The base annual rental for the Leased Premises is Ten
Dollars ($10.00) per acre, or a total of Eleven Thousand Six Hundred
Thirty Dollars ($11,630.00) per year which sum was prepaid prior to
the effective date.
	 
	 	5.	 	Compliance. Tenant shall comply with all applicable federal,
state and local statutes, laws, ordinance rules or regulations
relating to the possession, use or maintenance of the Leased
Premises. Tenant will indemnify and hold Lessor harmless from all
liabilities, fines, forfeitures or penalties for violations of any
such statutes, laws, ordinances, rules or regulations, including,
but not limited



 






 




	 	 	 	to all environmental requirements pertaining to operations and
activities on the Leased Premises.
	 
	 	6.	 	Taxes. Lessor shall pay all real property taxes which shall
be assessed, levied, or imposed on the Leased Premises.
	 
	 	7.	 	Insurance. Tenant shall maintain commercial general
liability insurance and other insurance requirements as set out in
the attached Exhibit B.
	 
	 	8.	 	Indemnification. Lessor and Tenant shall indemnify and hold
each other harmless from and against any and all claims, damages or
causes of action for damage on account of any injury to or death of
any person or any loss or damage to property occurring in, on, or
about the Leased Premises at any time during the Lease Term and due
to an act or omission of such indemnifying party.
	 
	 	9.	 	Entire Agreement. This Lease and the attached Exhibits A and
B, which are incorporated by reference and made an integral part of
this Lease, constitute the entire agreement between the Parties.
	 
	 	10.	 	Choice of Law. This Lease has been executed in and the
Leased Premises are in the State of Texas and the provisions shall
be interpreted and construed in accordance with the laws of Texas.
	 
	 	11.	 	Amendment. This Lease cannot be amended, modified or altered
except by written agreement signed by the Parties.



             Signed on the dates indicated but effective the date first written above.



	 	 	 	 	 
	Lessor

PILGRIM’S PRIDE CORPORATION	 	 	 	Tenant

PATRICK W. PILGRIM
	 	 	 	 	 
	By: /s/ Clifford E. Butler	 	 	 By:	/s/ Patrick W. Pilgrim
	
	 	 	 	

	Name: Clifford E. Butler

Title: Vice Chairman

Date: July 22, 2003	 	
 	Date:
	Name: Patrick W. Pilgrim

Title: Individually

July 22, 2003