Document:

<PAGE>
                                                                   Exhibit 10.07

                                MICHAEL J. MENDES

                    LONG TERM INCENTIVE COMPENSATION PROGRAM

                             AS AMENDED MARCH 2005

This Long Term Incentive Compensation Program is entered into between Diamond of
California, hereinafter referred to as "Company" and Michael J. Mendes,
hereinafter referred to as M. Mendes and contains the following mutually agreed
to covenants and promises.

I.    The Company will commit to provide M. Mendes on his retirement, at a
      minimum age of 50 or at his election anytime later up to age 65, a long
      term compensation fund to be paid him, or his designated beneficiary, in
      equal installments over a ten (10) year period commencing with his date of
      retirement. This long term incentive fund will be determined in the
      following manner:

      A.    One million dollars ($1,000,000.00) base amount at the beginning of
            this commitment in 2001.

      B.    Annual additions to the base amount computed at 7% of the balance on
            the preceding anniversary date, or at the percentage payable on ten
            (10) year government bonds at the new anniversary date, plus one
            hundred fifty (150) basis points, whichever is higher.

      C.    Payments made under these terms will be in addition to any other
            retirement benefits owing to M. Mendes by the Company as regularly
            earned.

II.   In the event of M. Mendes' death or disability prevent him from continuing
      to deliver an effective performance as President/CEO, the fund, as
      described in Paragraph I hereinabove, shall be payable (a) to his
      designated beneficiary effective the day of his death, or (b) to M. Mendes
      in the event of his permanent disability, effective the day the permanent
      disability is certified. This fund will be payable in equal installments
      over a ten (10) year period effective the date of either event.

      A.    Payments made under these terms shall be in addition to any other
            death or disability benefit(s) owed to M. Mendes by the Company or
            his beneficiary as regularly provided.

III.  Should the Company ever convert any part or all of its business operations
      to a for-profit company with publicly traded equity shares during M.
      Mendes's employment as President/CEO, options to acquire such publicly
      traded shares may be granted to M. Mendes by the Board of Directors in
      such quantities and at such exercise price or prices as may be mutually
      acceptable to the Board and M. Mendes, with a proviso that the option
      cannot be exercised until M. Mendes is (a) eligible to receive payments
      authorized under Paragraph I hereinabove; and (b) that the total value
      assigned by the Board of Directors to the publicly traded shares eligible
      to be acquired under his option will be deducted from the aggregate fund
      described in Paragraph I hereinabove.

                                       1
<PAGE>
IV.   In the event M. Mendes is terminated from his position as President/CEO by
      the Board of Directors for any reason other than "Just Cause", the
      designated long term compensation fund amount for time in service found in
      Paragraph 1 A-B-C hereinabove shall become immediately available, with the
      date of termination being the effective date. These long term compensation
      funds shall constitute full payment of compensation owing upon his
      termination.

V.    At his election, M. Mendes may retire at any time after attaining 50 years
      of age, but not later than attaining the age of 65 years. Upon his
      retirement he or his beneficiary will be entitled to full compensation as
      provided for under Paragraphs I, II and III hereinabove. No addition
      monies will be added to the long term compensation fund described in
      Paragraph I hereinabove, after M. Mendes has attained 55 years of age.

VI.   Should M. Mendes voluntarily leave Diamond's employment prior to attaining
      age 50, he will forfeit all rights and benefits as described in the
      foregoing paragraphs.

VII.  All parties to this agreement understand that the obligations incurred by
      the Company is not secured by any particular assets of the Company, but is
      an unfounded obligation of the Company.

VIII. This agreement shall be binding upon M. Mendes and his heirs, successors
      and assigns and upon the Company and its successors and assigns.

IX.   No payment hereunder shall be subject in any manner to anticipation,
      alienation, sale, transfer, assignment, pledge, encumbrance, levy or
      charge and any attempt to so assign or otherwise encumber such payment
      shall be void.

X.    Calculated Example of Long Term Compensation Funds:

<TABLE>
<CAPTION>
                Year               Base Fund           Annual Increase @ 7%
                ----               ---------           --------------------
<S>                                <C>                 <C>
                2001               $1,000,000                $ 70,000
                2002                1,070,000                  74,900
                2003                1,114,900                  80,143
                2004                1,225,043                  86,753
                2005                1,402,552                  91,756
                2006                1,500,731                  98,179
                2007                1,605,782                 105,051
                2008                1,708,883                 119,618
                2009                1,828,501                 127,995
                2010                1,956,496                 136,955
                2011                2,093,451                 146,541
                2012                2,239,992
</TABLE>

XI.   The entire provisions and agreement between the parties has been
      incorporated in this Agreement and may not be amended except in writing
      signed by both parties.

                                       2<PAGE>

                                                                   EXHIBIT 10.08

                          DIAMOND WALNUT GROWERS, INC.

                           RETIREMENT RESTORATION PLAN

                         Effective Date: August 1, 1989

<PAGE>

                          DIAMOND WALNUT GROWERS, INC.

                           RETIREMENT RESTORATION PLAN

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                            PAGE
<S>                                                                                                         <C>
SECTION 1   Definitions...................................................................................    2

SECTION 2   Participation.................................................................................    3

SECTION 3   Retirement Income Benefits....................................................................    3

SECTION 4   Payment of Benefits...........................................................................    4

SECTION 5   Administration of the Plan....................................................................    5

SECTION 6   Miscellaneous.................................................................................    6
</TABLE>

                                       -i-
<PAGE>

                              STATEMENT OF PURPOSE

The Sun-Diamond Growers of California Defined Benefit Plan was amended effective
August 1, 1989 to bring the Plan into compliance with pension provisions of the
Tax Reform Act of 1986.

The purpose of this Plan is to restore retirement benefits for certain eligible
Employees and their Spouses. This Plan is intended to restore benefits of the
Sun-Diamond Growers of California Defined Benefit Pension Plan that have been
cut back by reason of: (1) the maximum benefit limitation of IRC 415; (2) the
maximum compensation limitation of IRC 414(s) and 401(a)(17); and (3) the change
in the benefit formula required under Social Security integration rules of the
Tax Reform Act of 1986.

<PAGE>

                          DIAMOND WALNUT GROWERS, INC.

                           RETIREMENT RESTORATION PLAN

Diamond Walnut Growers, Inc. does hereby adopt the Diamond Walnut Growers, Inc.
Retirement Restoration Plan in its entirety upon the following terms,
provisions, and conditions:

                                   SECTION 1

                                  DEFINITIONS

Whenever used in this Plan and capitalized, unless a different meaning is
plainly required by the context, the following terms shall have the meanings set
forth below:

1.1   Board:

      "Board" means the Board of Directors of Diamond Walnut Growers, Inc.

1.2   Code:

      "Code" means the Internal Revenue Code of 1988, as amended, or any similar
      statute enacted in lieu thereof.

1.3   Committee:

      "Committee" means the Committee appointed by the Board.

1.4   Effective Date:

      "Effective Date" means August 1, 1989.

1.5   Employer:

      "Employer" means Diamond Walnut Growers, Inc. and any successor
      organization.

1.6   Participant:

      "Participant" means each employee selected by the Board to participate in
      this Plan.

1.7   Plan:

      "Plan" means the Diamond Walnut Growers, Inc. Retirement Restoration Plan.

1.8   Previous Retirement Plan:

      "Previous Retirement Plan" means the Sun-Diamond Growers of California
      Defined Benefit Pension Plan in effect on July 31, 1989.

                                       2

<PAGE>

1.9   Retirement Income:

      "Retirement Income" means the amount payable by the Employer pursuant to
      Section 3 of this Plan.

1.10  Retirement Plan:

      "Retirement Plan" means the Sun-Diamond Growers of California Defined
      Benefit Pension Plan.

1.11  Trust:

      "Trust" means the grantor trust described in Section 4 of this Plan.

                                   SECTION 2

                                 PARTICIPATION

The Board shall designate, in writing, those employees who are to be Plan
Participants. An employee shall become a Participant on the date designated by
the Board.

                                   SECTION 3

                           RETIREMENT INCOME BENEFITS

3.1   Eligibility:

      To receive Retirement Income benefits from this Plan, the Participant (or
      the Participant's beneficiary) must be eligible to receive retirement
      income benefits from the Retirement Plan. The Retirement Plan provides
      benefits to vested participants in the event of retirement, termination of
      employment or disability. In certain circumstances, the Retirement Plan
      also provides death benefits to beneficiaries of Participants. The amount
      of a Participant's benefit under this Plan shall be determined in
      accordance with 3.2 below; vesting of a Participant's benefit shall be
      determined in accordance with 3.3 below. Otherwise, this Plan shall
      provide Retirement Income benefits of the same type (e.g. normal
      retirement, early retirement, vested termination, death, disability),
      commencing at the same time and payable in the form of either a lump sum
      payment or a monthly annuity over the same duration as the benefit payable
      from the Retirement Plan.

3.2   Amount of Retirement Income Benefit:

      The amount of Retirement Income payable under this Plan is equal to the
      Target Benefit (as determined in (a) below), minus the Qualified Plan
      Benefit (as described in (b) below).

                                       3

<PAGE>

      (a)   Target Benefit

            The Target Benefit is equal to the monthly benefit (using the
            straight accrual method) resulting from the formula below that
            produces the greatest benefit.

            (1)   2% of "Average Compensation" multiplied by the Participant's
                  "Benefit Accrual Service" reduced by 1% of "Social Security
                  Benefit" multiplied by the Participant's "Benefit Accrual
                  Service" (not to exceed 40 years).

            (2)   3% of "Average Compensation" multiplied by the Participant's
                  "Benefit Accrual Service" (not to exceed 15 years), plus 1/2%
                  of "Average Compensation" multiplied by the Participant's
                  "Benefit Accrual Service" which exceeds 15 years, reduced by
                  3-1/3% of "Social Security Benefit" multiplied by the
                  Participant's "Benefit Accrual Service" (not to exceed 15
                  years).

            Terms in quotation marks are defined in the Previous Retirement
            Plan, except that "Compensation" shall not be capped by the maximum
            compensation limitation of Code Sections 414(s) and 401(a)(17), and,
            the amount of benefit produced under the formula shall not be capped
            by the Code Section 415 maximum benefit limitations.

      (b)   Qualified Plan Benefit

            The Qualified Plan Benefit is the actual monthly benefit payable
            from the Retirement Plan based on the elected form of payment and
            commencement date.

      Upon termination of employment or retirement, a Participant can elect to
      receive his Plan benefit in any of the forms available under the
      Retirement Plan. If the lump sum payment option is selected, the method of
      determining the actuarial equivalent factor shall be the same as that used
      under the previous Retirement Plan as follows: The amount of the
      Retirement Income on the earliest eligible retirement date shall be
      determined; then, the actuarial equivalent shall be based on this amount
      and date.

3.3   Vesting

      Vesting under this Plan will follow the Previous Retirement Plan
      provisions: A Participant will be 50% vested after completing five (5)
      years of service, increasing by 10% for each additional year until fully
      vested after completion of ten (10) years of service.

                                   SECTION 4

                               PAYMENT OF BENEFITS

The Employer shall establish and make contributions from its general assets to a
Trust for the purpose of accumulating the amounts necessary to satisfy its
obligation to pay benefits under this

                                       4

<PAGE>

Plan. All benefits earned under this Plan will be paid from the Trust. This
Trust shall be structured as a "grantor trust" within the meaning of Sections
671 through 677 of the Code. Assets held in the Trust shall continue, for all
purposes, to be part of the general assets of the Employer, subject to the
claims of the Employer's general creditors. To the extent that any person
acquires the right to receive future benefit payments from the Employer under
this Plan, such right shall be no greater than the right of any unsecured
general creditor of the Employer.

                                   SECTION 5

                           ADMINISTRATION OF THE PLAN

5.1   Committee

      The Board shall appoint a Committee of not more than three (3) members to
      serve at its pleasure and without compensation to administer the Plan.

5.2   Employer Contributions

      The Employer shall make such contributions from time to time which the
      Committee shall deem necessary to provide the benefits of this Plan.

5.3   Funding Policy

      The Committee shall have the duty to establish a funding policy and method
      which satisfies the financial obligations of the Plan through the Trust.
      Annually, the Committee will inform the Employer of its determination of
      the Plan's short-term and long-term financial needs in accordance with the
      funding policy.

5.4   Annual Participant Statements

      An annual benefit statement will be provided to each Plan participant. The
      statement is to be consistent as to content with the annual statement
      provided under the Retirement Plan.

5.5   Reliance on Professional Counselors

      The Committee shall rely on the services of an Enrolled Actuary to: (a)
      determine the Employer contributions under the funding policy; (b)
      determine the amount of benefits which are payable to any person in
      accordance with the provisions of the Plan; (c) prepare the annual
      participant statement; and (d) assist the Committee with other
      administrative issues, as instructed by the Committee. The Committee shall
      direct the Trust to make the appropriate benefit payments to Participants.

                                       5

<PAGE>

                                   SECTION 6

                                  MISCELLANEOUS

6.1   Questions or Disputes:

      Any questions or disputes as to this Plan will be resolved in the same
      manner as provided for in the Retirement Plan.

6.2   Non-alienation of Payments:

      No Participant, beneficiary, legatee, heir or any other person shall have
      the right to commute, encumber, assign, transfer, pledge or otherwise
      anticipate or dispose of the right to receive payments hereunder.

6.3   Non-guarantee of Employment:

      Nothing contained herein shall be construed as conferring upon a
      Participant the right to continue in the employ of the Employer as an
      executive or in any other capacity. The Employer may terminate the
      employment of any Participant at any time the Board determines such
      termination to be for the benefit of the Employer.

6.4   Governing Legal Entity:

      This Plan shall be construed, administered and enforced according to the
      laws of the State of California.

6.5   Text to Control:

      The headings of the sections are included solely for convenience of
      reference and, if there is any conflict between such headings and the text
      of the Plan, the text shall control.

6.6   Gender:

      The masculine pronoun whenever used includes the female pronoun.

6.7   Plan Amendment and Termination:

      (a)   Reserved Rights. While the Employer intends to maintain this Plan as
            long as it maintains the Retirement Plan, the Board reserves the
            right to amend and the right to terminate this Plan at any time for
            whatever reason it may deem appropriate.

      (b)   Protected Benefit. Notwithstanding paragraph (a) immediately above,
            no amendment, and no Plan termination, shall adversely affect
            benefits that would have been payable under Section 3 of this Plan
            (whether or not payment would have been deferred) if the Participant
            had terminated employment or died on the date of such amendment or
            Plan termination.

                                       6

<PAGE>

                                EXECUTION OF PLAN

IN WITNESS WHEREOF, the Employer has caused this Plan to be executed by its duly
authorized officer this 27 day of February, 1990.

                                             DIAMOND WALNUT GROWERS, INC.

                                             By /s/ William C. Hosie
                                               ---------------------------------

                                             Its Chairman of the Board
                                                --------------------------------

                                       7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}]]