Document:

<PAGE>

                                                                  Exhibit 10.4.2

                                ALBERTSON'S, INC.

                               AMENDMENT NO. 2 TO

                              EMPLOYMENT AGREEMENT

          THIS AMENDMENT NO. 2 to the Employment Agreement by and between
Lawrence R. Johnston (the "Executive") and Albertson's, Inc. (the "Company") is
entered into as of May 18, 2006.

          WHEREAS, the Company and the Executive entered into that certain
Employment Agreement dated April 23, 2001 and that certain Amendment to
Employment Agreement dated July 19, 2001 ("Amendment No. 1" and, collectively,
the "Agreement"); and

          WHEREAS, the Company and the Executive wish to make certain amendments
to the Agreement as set forth below.

          NOW THEREFORE, in consideration of the agreements set forth herein,
the parties agree as follows:

1.   Capitalized terms used herein and not otherwise specifically defined herein
     shall have the same meaning given to such terms in the Agreement.

2.   The phrase "received under the Annual Bonus Plan" is hereby inserted into
     the second sentence of Sub-section 5(f)(i), immediately following the words
     "actual bonus".

3.   The following Sub-section (v) is hereby added to the end of Sub-section
     5(f) of the Agreement:

     "(v) Notwithstanding any other provision of the Agreement, in lieu of any
payment of the Retirement Benefit pursuant to Section 5(f)(i) through (iv) or
Section 7(a)(viii), the Executive shall have the ability to elect prior to April
30, 2006 to receive in a lump sum in cash:

     (A)  upon the later of the effective time of a Change of Control or January
          1, 2007, an amount (the "First Retirement Benefit Payment") equal to
          the present value of the Retirement Benefit accrued through the date
          of payment, assuming that the Retirement Benefit would commence to be
          paid on such payment date, with such present value to be determined on
          the basis of the applicable mortality table prescribed in Section
          417(e)(3)(A)(ii)(I) of the Code and the then prevailing PBGC rate for
          immediate annuities; and

     (B)  upon the Executive's termination of employment or as soon thereafter
          as may be permitted in compliance with Section 409A of the Code, an
          amount equal to the excess of (1) the present value of the Retirement
          Benefit, determined on the basis set forth in (A) above as of the
          effective date of the Executive's termination of employment as set
          forth in the next sentence of this Section 5(f)(v)(B), over (2) the
          amount of the First Retirement Benefit Payment, increased by interest
          at the rate of 2.75% (the PBGC rate for immediate annuities in March,
          2006) from the date immediately following the date of the First
          Retirement Benefit Payment until the effective date of the Executive's
          termination of

<PAGE>

          employment. The calculation of the amount described in clause (B)(1)
          of this Section 5(f)(v) shall be determined on the basis of or by
          reference to the Retirement Benefit that would be determined under and
          payable to the Executive as a life annuity under Sections 5(f)(i)
          through (iv) but for this subparagraph (v)."

4.   Section 7(a)(iv) to the Agreement is hereby deleted in its entirety and
     replaced with the following:

     "(iv) (A) For any welfare benefits, fringe benefits and employee
perquisites to which the Executive is entitled prior to the Date of Termination
that are considered to be "reimbursement arrangements" within the meaning of
Proposed Treasury Regulation Section 1.409A-1(b)(9)(iv)(A) or any successor
provision: for the three year period commencing on the Date of Termination,
continued participation in such welfare benefit plans, fringe benefits, and
employee perquisites; provided, however, that if the Company determines that the
provision of any benefit under this Section 7(a)(iv)(A)(1) is likely to result
in negative tax consequences to the Executive, the Company will use its
reasonable best efforts to make other arrangements to provide a substantially
similar benefit to the Executive that does not have such negative tax
consequences, which may include, making a lump sum payment or payments, at the
earliest time or times permitted under Section 409A of the Code, in an amount
equal to the present value of any such benefits that, if provided, would result
in negative tax consequences to the Executive and/or with respect to health plan
coverage, providing such benefit through insurance coverage on the Executive's
behalf.

     (B) For any welfare benefits, fringe benefits and employee perquisites to
which the Executive is entitled prior to the Date of Termination that are not
considered to be "reimbursement arrangements" covered under Proposed Treasury
Regulation Section 1.409A-1(b)(9)(iv)(A) or any successor provision, a lump sum
payment or payments in an amount equal to the present value of the continuation
of such benefits for three years following the Date of Termination. Such payment
or payments shall be made at the earliest time or times permitted under Section
409A of the Code."

5.   The following new Section 7(a)(ix) is hereby added to the end of Section
     7(a) of the Agreement:

     "(ix) Notwithstanding anything to the contrary contained herein, if any
lump sum payment under this Section 7(a) constitutes a "deferral of
compensation" under Section 409A of the Code, the Executive will receive payment
of the lump sum amounts described in this Section 7(a) upon the earlier of (1)
six months following the Executive's "separation from service" with the Company
(as such phrase is defined in Section 409A of the Code) or (2) the Executive's
death."

                                       2

<PAGE>

6.   The phrase "or benefits consulting," is hereby inserted immediately
     following the words "accounting" wherever such words appear in Section
     7(c).

7.   The following provision is hereby added to the end of Section 8(d)(iii) of
     the Agreement:

     "Notwithstanding anything in the foregoing to the contrary, the Executive
may make recommendations and referrals on behalf of employees who (i) have been
identified as not receiving an offer of employment by the expected surviving
entity (or an affiliate thereof) in a Change in Control transaction or (ii) have
declined to accept such an offer; provided that the Executive may not make such
a recommendation or referral to a Competitor of the Company."

8.   The following new Section 24 is hereby added to the Agreement:

     "Section 24. SECTION 409A OF THE CODE. To the extent applicable, it is
intended that this Agreement comply with the provisions of Section 409A of the
Code. This Agreement shall be administered in a manner consistent with this
intent, and any provision that would cause the Agreement to fail to satisfy
Section 409A of the Code shall have no force and effect unless and until such
provision is amended to comply with Section 409A of the Code (which amendment
may be retroactive to the extent permitted by Section 409A of the Code and may
be made by the Company without the consent of the Executive). Any amendment to
the timing and receipt of any payment or benefit provided hereunder shall be
effected in a manner that is intended to be in compliance with Section 409A of
the Code. Any reference in this Agreement to Section 409A of the Code will also
include any proposed, temporary or final regulation, or any other guidance,
promulgated with respect to such section by the U.S. Department of the Treasury
or the Internal Revenue Service. To the extent that any payment required to be
made under this Agreement is delayed in order to avoid negative tax consequences
under Section 409A of the Code, the Company will pay interest on the amount of
such payment during the time that such payment is delayed at an annualized rate
of interest equal to 6.2%."

9.   Except as amended herein, the Agreement shall remain unchanged and in full
     force and effect.

                                       3

<PAGE>

          IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed and delivered as of the date first above written.

                                        ALBERTSON'S, INC.

                                        By: /s/ John R. Sims
                                            ------------------------------------
                                        Name: John R. Sims
                                        Title: Executive Vice President &
                                               General Counsel

                                        /s/ Lawrence R. Johnston
                                        ----------------------------------------
                                        Lawrence R. Johnston

                                       4<PAGE>

                                                                  Exhibit 10.6.5

                                AMENDMENT TO THE
             ALBERTSON'S, INC. EXECUTIVE DEFERRED COMPENSATION PLAN

     WHEREAS, the Albertson's, Inc. Executive Deferred Compensation Plan (the
"Plan") was established December 5, 1983 and was further amended;

     WHEREAS, the Board of Directors of Albertson's, Inc. has delegated the
authority to amend the Plan to its Management Development/Compensation
Committee;

     NOW, THEREFORE, the following amendments to the Plan are hereby adopted
effective as of the adoption date of this Amendment (unless another effective
date is expressly specified):

1. The definition of "Change in Control" contained in Article I of the Plan is
hereby amended to read as follows:

               "Change in Control" shall mean the occurrence of any of the
          following events:

               (i) the acquisition by any individual, entity or group (within
          the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a
          "Person") of beneficial ownership (within the meaning of Rule 13d-3
          promulgated under the Exchange Act) of 20% or more of the combined
          voting power of the then-outstanding Voting Stock of Albertson's, Inc.
          (the "Company"); provided, however, that:

                    (1) for purposes of this Section 1(i), the following
          acquisitions shall not constitute a Change in Control: (A) any
          acquisition of securities entitled to vote generally in the election
          of directors of the Company ("Voting Stock") directly from the Company
          that is approved by a majority of the Incumbent Directors, (B) any
          acquisition of Voting Stock of the Company by the Company or any
          subsidiary, (C) any acquisition of Voting Stock of the Company by any
          employee benefit plan (or related trust) sponsored or maintained by
          the Company or any subsidiary, and (D) any acquisition of Voting Stock
          of the Company by any Person pursuant to a Business Combination that
          complies with clauses (A), (B) and (C) of Section 1(iii) below;

                    (2) if any Person acquires beneficial ownership of 20% or
          more of combined voting power of the then-outstanding Voting Stock of
          the Company as a result of a transaction described in clause (1)(A) of
          Section

<PAGE>

          1(i) and such Person thereafter becomes the beneficial owner of any
          additional shares of Voting Stock of the Company representing 1% or
          more of the then-outstanding Voting Stock of the Company, other than
          in an acquisition directly from the Company that is approved by a
          majority of the Incumbent Directors or other than as a result of a
          stock dividend, stock split or similar transaction effected by the
          Company in which all holders of Voting Stock are treated equally, such
          subsequent acquisition shall be treated as a Change in Control;

                    (3) a Change in Control will not be deemed to have occurred
          if a Person acquires beneficial ownership of 20% or more of the Voting
          Stock of the Company as a result of a reduction in the number of
          shares of Voting Stock of the Company outstanding unless and until
          such Person thereafter becomes the beneficial owner of any additional
          shares of Voting Stock of the Company representing 1% or more of the
          then-outstanding Voting Stock of the Company, other than as a result
          of a stock dividend, stock split or similar transaction effected by
          the Company in which all holders of Voting Stock are treated equally;
          and

                    (4) if at least a majority of the Incumbent Directors
          determine in good faith that a Person has acquired beneficial
          ownership of 20% or more of the Voting Stock of the Company
          inadvertently, and such Person divests as promptly as practicable a
          sufficient number of shares so that such Person beneficially owns less
          than 20% of the Voting Stock of the Company, then no Change in Control
          shall have occurred as a result of such Person's acquisition; or

               (ii) a majority of the Directors are not Incumbent Directors; or

               (iii) the consummation of a reorganization, merger or
          consolidation, or sale or other disposition of all or substantially
          all of the assets of the Company or the acquisition of assets of
          another corporation, or other transaction (each, a "Business
          Combination"), unless, in each case, immediately following such
          Business Combination (A) all or substantially all of the individuals
          and entities who were the beneficial owners of Voting Stock of the
          Company immediately prior to such Business Combination beneficially
          own, directly or indirectly, more

                                       2

<PAGE>

          than 60% of the combined voting power of the then outstanding shares
          of Voting Stock of the entity resulting from such Business Combination
          (including, without limitation, an entity which as a result of such
          transaction owns the Company or all or substantially all of the
          Company's assets either directly or through one or more subsidiaries),
          (B) no Person (other than the Company, such entity resulting from such
          Business Combination, or any employee benefit plan (or related trust)
          sponsored or maintained by the Company, any Subsidiary or such entity
          resulting from such Business Combination) beneficially owns, directly
          or indirectly, 20% or more of the combined voting power of the then
          outstanding shares of Voting Stock of the entity resulting from such
          Business Combination, and (C) at least a majority of the members of
          the Board of Directors of the entity resulting from such Business
          Combination were Incumbent Directors at the time of the execution of
          the initial agreement or of the action of the Board providing for such
          Business Combination; or

               (iv) approval by the shareholders of the Company of a complete
          liquidation or dissolution of the Company, except pursuant to a
          Business Combination that complies with clauses (A), (B) and (C) of
          Section 1(iii).

               An "Incumbent Director" shall mean the individuals who, as of the
          date hereof, are Directors of the Company and any individual becoming
          a Director subsequent to the date hereof whose election, nomination
          for election by the Company's shareholders, or appointment, was
          approved by a vote of at least two-thirds of the then Incumbent
          Directors (either by a specific vote or by approval of the proxy
          statement of the Company in which such person is named as a nominee
          for director, without objection to such nomination); provided,
          however, that an individual shall not be an Incumbent Director if such
          individual's election or appointment to the Board occurs as a result
          of an actual or threatened election contest (as described in Rule
          14a-12(c) of the Exchange Act) with respect to the election or removal
          of Directors or other actual or threatened solicitation of proxies or
          consents by or on behalf of a Person other than the Board.

     2. Effective as of the date of adoption of this Amendment, a new Section
6.09 is hereby added to the Plan, immediately following Section 6.08, to read as
follows:

                                       3

<PAGE>

               6.10 Special Election. Notwithstanding any other provision of the
          Plan, each Participant shall have the right to elect, prior to May 22,
          2006, in accordance with procedures established under the Plan, to
          receive a lump sum in cash (payable from an applicable trust or from
          general corporate assets) such Participant's vested account balance
          under such Plan as of the date of the distribution, payable as soon as
          practicable on or after (but no later than 30 days after) January 1,
          2007, or, if later, the effective date of a Change in Control
          ("Special Election Lump Sum"), provided that such election shall not
          prevent the payment or commencement of a Participant's account balance
          under the Plan on a scheduled distribution date that occurs prior to
          the payment of any such Special Election Lump Sum.

     3. A new Section 8.04 is hereby added to the Plan, immediately following
Section 8.03, to read as follows:

               8.04 Code Section 409A. It is intended that the Plan shall be
          operated in good faith compliance with Section 409A of the Internal
          Revenue Code ("Code") and may be amended by the Employer at any time
          to the extent determined necessary or desirable, at the Employer's
          discretion, in light of Code Section 409A, without regard to any
          restrictions on the Employer's ability to amend the Plan under any
          other provision of the Plan.

     4. Except as provided herein, the Plan shall remain in full force and
effect.

     EXECUTED this 28th day of April, 2006.

                                        ALBERTSON'S, INC.

                                        By: /s/ John R. Sims
                                            ------------------------------------
                                        Its: Executive Vice President & General
                                             Counsel

                                       4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00104-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00104-of-00352.parquet"}]]