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                                                                   EXHIBIT 10.11

                                   LANCE, INC.

               2004 ANNUAL PERFORMANCE INCENTIVE PLAN FOR OFFICERS

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Purposes and              The primary purposes of the 2004 Annual Performance
Introduction              Incentive Plan for Officers are to:

                          _    Motivate behaviors that lead to the successful
                               achievement of specific sales, financial and
                               operations goals that support Lance's stated
                               business strategy.

                          _    Emphasize link between participants' performance
                               and rewards for meeting predetermined, specific
                               goals.

                          _    Focus participant's attention on operational
                               effectiveness from both an earnings and an
                               investment perspective.

                          _    Promote the performance orientation at Lance and
                               communicate to employees that greater
                               responsibility carries greater rewards because
                               more pay is "at risk."

                          For 2004, participants will be eligible to earn
                          incentive awards based on Corporate Return on Capital
                          Employed (ROCE), Divisional Return on Net Assets
                          (RONA) and individual performance objectives against
                          specific goals as described below.

                          _    ROCE is calculated as follows:

                            Net Income + Interest Expense x (1 - Tax Rate)
                            ----------------------------------------------
                                     Average Equity + Average Debt

                          _    RONA is calculated as follows:

                                    Operating Profit x (1 - Tax Rate)
                        --------------------------------------------------------
                        Average Operating Assets - Average Operating Liabilities

                          Tax Rate shall be the actual income tax rate for ROCE
                          and will be the income tax rate in the operating plan
                          for the applicable operating unit for RONA.

                          To achieve the maximum motivational impact, plan goals
                          and the awards that will be received for meeting those
                          goals will be communicated to participants as soon as
                          practical after the 2004 Plan is approved by the
                          Compensation Committee of the Board of Directors.

                          Each participant will be assigned a Target Incentive,
                          stated as a percent of Base Salary. The Target
                          Incentive Award, or a greater or lesser amount,
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                          will be earned at the end of the plan year based on
                          the attainment of predetermined goals.

                          Base Salary shall be the annual rate of base
                          compensation for the Plan Year which is set no later
                          than April of such Plan Year.

                          Following year-end, 100% of the awards earned will be
                          payable to participants in cash.

Plan Year                 The period over which performance will be measured is
                          the Company's fiscal year.

Eligibility and           Eligibility in the Plan is limited to Officers of
Participation             Lance who are key to Lance's success. The Compensation
                          Committee of the Board of Directors will review and
                          approve participants nominated by the President and
                          Chief Executive Officer. Participation in one year
                          does not guarantee participation in a following year,
                          but instead will be reevaluated and determined on an
                          annual basis.

                          Participants in the Plan may not participate in any
                          other annual incentive plan (e.g., sales incentives,
                          etc.) offered by Lance or its affiliates. Attachment A
                          includes the list of 2004 participants approved by the
                          Compensation Committee at its April 22, 2004 meeting.

Target Incentive Awards   Each participant will be assigned a Target Incentive
                          expressed as a percentage of his or her Base Salary.
                          Participants may be assigned Target Incentives by
                          position by salary level or based on other factors as
                          determined by the Compensation Committee.

                          Target Incentives will be reevaluated at least every
                          other year, if not annually. If the job duties of a
                          position change during the year, or Base Salary is
                          increased significantly, the Target Incentive shall be
                          revised as appropriate.

                          Attachment A lists the Target Incentive and applicable
                          performance measure for each participant for the 2004
                          Plan Year. These Target Incentives will be reviewed
                          and adjusted annually by the Compensation Committee.
                          Target Incentives will be communicated to each
                          participant as close to the beginning of the year as
                          practicable, in writing. Final awards will be
                          calculated by multiplying each participant's Target
                          Incentive by the appropriate percentage (based on
                          financial and individual performance for the year, as
                          described below).
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Performance Measures      The 2004 financial performance measures for the
and Award Funding         Company as a whole and the operating units are shown
                          below. Specific goals and related payouts are also
                          shown below.

                          Each operating unit will fund its own awards.

                                                 Minimum   Target   Maximum
                                                 -------   ------   -------
                          Lance, Inc. (ROCE)        *%        *%       *%
                          Lance Co. (RONA)          *%        *%       *%
                          Vista/Tamming (RONA)      *%        *%       *%
                          Award Level Funded       50%      100%      200%

                          [* Targets not required to be disclosed.]

                          Percent of payout will be determined on a straight
                          line basis between minimum and maximum. There will be
                          no payouts unless the minimum applicable performance
                          measure is reached and there will be no payouts if the
                          Company as a whole does not reach the minimum
                          applicable performance measure.

                          The performance measures, specific numerical goals and
                          the role of individual performance in determining
                          final payouts will be communicated to each participant
                          at the beginning of the year. Final Target Incentive
                          Awards will be calculated after the Compensation
                          Committee has reviewed the Company's audited financial
                          statements for 2004 and determined the performance
                          level achieved.

                          Minimum, Target and Maximum levels will be defined at
                          the beginning of each year for each performance
                          measure.

                          The following definitions for the terms Maximum,
                          Target and Minimum should help set the goals for each
                          year, as well as evaluate the payouts:

                          _    Maximum: Excellent; deserves an above-market
                               bonus

                          _    Target: Normal or expected performance; deserves
                               market level bonus

                          _    Minimum: Lowest level of performance deserving
                               payment above base salary; deserves below market
                               bonus

                          _    Below minimum: Deserves no additional pay beyond
                               base salary

Individual                Each Officer will receive 100% of his or her Target
Performance               Incentive Award based on his or her applicable
                          performance measure except for those participants
                          listed on Attachment B, who will receive 75% to 90% of
                          his or her Target Incentive Award based on his or her
                          applicable performance measure and the remainder based
                          on his or her individual performance objective listed
                          on
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                          Attachment B.

Form and Timing           Final award payments will be made in cash as soon as
of Payments               practicable after award amounts are approved by the
                          Compensation Committee of the Board of Directors. All
                          awards will be rounded to the nearest $100.

Change in Status          An employee hired into an eligible position during the
                          year may participate in the Plan for the balance of
                          the year on a pro rata basis.

Certain Terminations of   In the event a participant voluntarily terminates
Employment                employment or is terminated involuntarily before the
                          end of the year, any award will be forfeited. In the
                          event of death, permanent disability, or normal or
                          early retirement, the award will be paid on a pro rata
                          basis after the end of the plan year. Awards otherwise
                          will be calculated on the same basis as for other
                          participants, except that any adjustment for
                          individual performance will be based on performance
                          prior to the termination of employment.

Change In Control         In the event of a Change in Control, pro rata payouts
                          will be made at the greater of (1) Target or (2)
                          actual results for the year-to-date, based on the
                          number of days in the plan year preceding the Change
                          in Control. Payouts will be made within 30 days after
                          the relevant transaction has been completed.

                          "Change in Control" means, and shall be deemed to have
                          occurred upon, the first to occur of any of the
                          following events:

                          (i) Any Outside Person becomes the Beneficial Owner,
                          directly or indirectly, of securities of the Company
                          representing twenty-five percent (25%) or more of the
                          combined voting power of the Company's then
                          outstanding securities; or

                          (ii) During any period of two (2) consecutive years
                          (not including any period prior to the date hereof),
                          individuals who at the beginning of such period
                          constitute the Board (and any new Director, whose
                          nomination for election by the Company's stockholders
                          was approved by a vote of at least two-thirds (2/3) of
                          the Directors then in office who either were Directors
                          at the beginning of the period or whose nomination for
                          election was so approved) cease for any reason to
                          constitute a majority of the members of the Board; or

                          (iii) The stockholders of the Company approve: (i) a
                          plan of complete liquidation of the Company; or (ii)
                          an agreement for the sale or disposition of all or
                          substantially all of the Company's assets other than a
                          sale or disposition of all or substantially all of the
                          Company's assets to an entity at least sixty percent
                          (60%) of the combined voting power of the voting
                          securities of which are owned by the stockholders of
                          the Company in substantially the same proportions as
                          their ownership of the Company
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                          immediately prior to such sale or disposition; or

                          (iv) The stockholders of the Company approve a merger,
                          consolidation, or reorganization of the Company with
                          or involving any other corporation, other than a
                          merger, consolidation, or reorganization that would
                          result in the voting securities of the Company
                          outstanding immediately prior thereto continuing to
                          represent (either by remaining outstanding or by being
                          converted into voting securities of the surviving
                          entity or any parent thereof) at least sixty percent
                          (60%) of the combined voting power of the voting
                          securities of the Company (or such surviving entity)
                          outstanding immediately after such merger,
                          consolidation, or reorganization.

                          However, in no event shall a "Change in Control" be
                          deemed to have occurred with respect to a Participant
                          if that Participant is part of a purchasing group
                          which consummates the Change in Control transaction. A
                          Participant shall be deemed "part of a purchasing
                          group" for purposes of the preceding sentence if the
                          Participant is an equity participant in the acquiring
                          company or group or surviving entity (the "Purchaser")
                          except for ownership of less than one percent (1%) of
                          the equity of the Purchaser.

                          "Beneficial Owner" has the meaning ascribed to such
                          term in Section 13(d) of the Exchange Act and Rule
                          13d-3 of the General Rules and Regulations under the
                          Exchange Act.

                          "Board" means the Board of Directors of the Company.

                          "Director" means a member of the Board.

                          "Member of the Van Every Family" means (i) a lineal
                          descendant of Salem A. Van Every, Sr., including
                          adopted persons as well as persons related by blood,
                          (ii) a spouse of an individual described in clause (i)
                          of this Paragraph or (iii) a trust, estate, custodian
                          and other fiduciary or similar account for an
                          individual described in clause (i) or (ii) of this
                          Paragraph.

                          "Outside Person" means any Person other than (i) a
                          Member of the Van Every Family, (ii) a trustee or
                          other fiduciary holding securities under an employee
                          benefit plan of the Company or (iii) a corporation
                          owned directly or indirectly by the stockholders of
                          the Company in substantially the same proportions as
                          their ownership of the Company.

                          "Participant" means an employee of the Company who is
                          granted an Award under this Plan.

Withholding               The Company shall withhold from award payments any
                          Federal, foreign, state or local income or other taxes
                          required to be withheld.
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Communications            Progress reports should be made to participants
                          quarterly showing the year-to-date performance results
                          and the percentage of Target Incentives that would be
                          earned if results remain at that level for the entire
                          year.

Executive                 Notwithstanding any provisions to the contrary above,
Officers                  participation, Target Incentive Awards and prorations
                          for executive officers, including the President and
                          Chief Executive Officer, shall be approved by the
                          Compensation Committee.

Governance                The Compensation Committee of the Board of Directors
                          of Lance, Inc. is ultimately responsible for the
                          administration and governance of the Plan. Actions
                          requiring Committee approval include final
                          determination of plan eligibility and participation,
                          identification of performance measures, performance
                          objectives and final award determination. The
                          Committee retains the discretion to adjust any award
                          that is determined to be inappropriate due to
                          anomalies in the application of a performance measure.
                          The decisions of the Committee shall be conclusive and
                          binding on all participants.
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                                  ATTACHMENT A

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                                             Performance       Award       Target
        Name                 Title             Measure      Percentage   Incentive
        ----                 -----           -----------    ----------   ---------
<S>                   <C>                   <C>             <C>          <C>
P. A. Stroup, III     President and Chief   Lance, Inc.         *%           $*
                      Executive Officer     ROCE

H. D. Fields          Vice President and    Vista/Tamming       *%           $*
                      President, Vista      RONA
                      Bakery, Inc.

L. R. Gragnani, Jr.   Vice President        Lance, Inc.         *%           $*
                      - Information         ROCE
                      Technology/CIO

E. D. Leake           Vice President        Lance, Inc.         *%           $*
                      - Human Resources     ROCE

B. C. Preslar         Vice President        Lance, Inc.         *%           $*
                      - Finance and Chief   ROCE
                      Financial Officer

F. I. Lewis           Vice President        Lance Co.           *%           $*
                      - Sales               RONA

D. R. Perzinski       Treasurer             Lance, Inc.         *%           $*
                                            ROCE

M. E. Wicklund        Controller and        Lance, Inc.         *%           $*
                      Assistant Secretary   ROCE
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[* Award targets omitted for participants as targets not required to be
disclosed.]
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                                  ATTACHMENT B

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                                                           Individual
                                           Individual     Performance
                                           Performance     Objective
      Name                Title             Objective      Percentage
      ----                -----            -----------    -----------
<S>                <C>                   <C>              <C>
P.A. Stroup, III   President and Chief     Lance, Inc.         *%
                   Executive Officer         Safety

H.D. Fields        Vice President and     Vista/Tamming        *%
                   President, Vista          Safety
                   Bakery, Inc.

E.D. Leake         Vice President          Lance, Inc.         *%
                   - Human Resources         Safety

F.I. Lewis         Vice President         Direct Store         *%
                   - Sales               Delivery Sales
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[* Objective percentage omitted for participants as targets not required to be
disclosed.]