Document:

Colony Financial Inc. 2009 Non-Executive Director Stock Plan

 Exhibit 10.1 
  
  
 COLONY FINANCIAL, INC. 
 2009 NON-EXECUTIVE DIRECTOR STOCK PLAN

  
  

 TABLE OF CONTENTS 
  

							
	  	  	 	  	 	  	Page
	1.	  	PURPOSE; TYPES OF AWARDS	  	1
	2.	  	DEFINITIONS	  	1
	3.	  	ADMINISTRATION	  	4
	4.	  	ELIGIBILITY	  	4
	5.	  	STOCK SUBJECT TO THE PLAN	  	5
	6.	  	TERMS OF AWARDS	  	5
		  		  	General.	  	5
		  		  	Terms of Specified Awards.	  	5
	7.	  	CHANGE IN CONTROL	  	7
	8.	  	GENERAL PROVISIONS	  	8
		  	  8.1	  	Nontransferability.	  	8
		  	  8.2	  	No Right to Continued Service, etc.	  	8
		  	  8.3	  	Taxes.	  	8
		  	  8.4	  	Effective Date; Amendment and Termination	  	9
		  	  8.5	  	Expiration of Plan.	  	9
		  	  8.6	  	Deferrals.	  	9
		  	  8.7	  	No Rights to Awards; No Stockholder Rights.	  	9
		  	  8.8	  	Unfunded Status of Awards.	  	9
		  	  8.9	  	No Fractional Shares.	  	9
		  	8.10	  	Regulations and Other Approvals	  	9
		  	8.11	  	Registration on Form S-8.	  	10
		  	8.12	  	Governing Law.	  	10
		  	8.13	  	Section 409A.	  	10

  

 - i - 

 COLONY FINANCIAL, INC. 
 2009 NON-EXECUTIVE DIRECTOR STOCK PLAN 
 Colony
Financial, Inc., a Maryland corporation (the “Company”), sets forth herein the terms of its 2009 Non-Executive Director Stock Plan (the “Plan”), as follows: 
 1. PURPOSE; TYPES OF AWARDS 
 The purposes of the Plan are to afford an incentive to the non-executive directors of the Company to continue as directors, to increase their efforts on behalf of the Company and to promote the success of
the Company’s business. The Plan provides for the grant of Restricted Stock, Restricted Stock Units and Other Stock-Based Awards. 
 2. DEFINITIONS 
 For purposes of the Plan, the following terms shall be defined as set forth below: 
 2.1. “Award” means any award of Restricted Stock or Restricted Stock Unit or any Other Stock-Based Award granted
under the Plan. 
 2.2. “Award Agreement” means any written agreement, contract or other instrument or
document evidencing an Award. 
 2.3. “Board” means the Board of Directors of the Company. 

2.4. “Change of Control” means: 
 (1) 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 more than fifty percent (50%) of either (i) the then outstanding shares of common stock, par value $0.01 per share, of the Company (the “Outstanding Company Stock”) or
(ii) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for
purposes of this subsection (1), the following acquisitions shall not constitute a Change in Control: (i) any acquisition by the Company; (ii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the
Company or any corporation or trust controlled by the Company; and (iii) any acquisition by any entity pursuant to a transaction which complies with clauses (i), (ii) and (iii) of subsection (3) of this Section 2.4; or

 (2) Individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to
constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s stockholders, was approved by a vote
of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any

 
such individual whose initial assumption of office occurs as a result of an actual or threatened election contest 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; or 
 (3) Consummation of a
reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”), in each case unless, following such Business Combination, (i) all or
substantially all of the individuals and entities who were the beneficial owners of the Outstanding Company Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more
than fifty percent (50%) of, respectively, the then outstanding common shares and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the entity
resulting from such Business Combination (including, without limitation, a corporation that 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) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Stock and Outstanding Company Voting Securities, as the case may be, and (ii) no Person (excluding
any corporation or trust resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such corporation or trust resulting from such Business Combination) beneficially owns, directly or indirectly,
thirty-five percent (35%) or more of the then outstanding shares of the corporation or trust resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such corporation or trust except to
the extent that such ownership existed prior to the Business Combination and (iii) at least a majority of the members of the board of directors of the corporation or trust resulting from such Business Combination were members of the Incumbent
Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 
 (4) Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company and consummation of such transaction. 
 2.5. “Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rules and regulations
promulgated thereunder. 
 2.6. “Committee” means the committee established by the Board to administer
the Plan, the composition of which shall at all times consist of “non-employee directors” within the meaning of Rule 16b-3 under the Exchange Act. 
 2.7. “Company” means Colony Financial, Inc., a Maryland corporation, or any successor corporation. 
 2.8. “Effective Date” means September 21, 2009, the date on which the Plan was adopted by the Board. 
 2.9. “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations promulgated thereunder. 
  

 - 2 - 

 2.10. “Fair Market Value” means the value of a share of Stock,
determined as follows: if on the date of grant the shares of Stock are listed on an established national or regional stock exchange, or are publicly traded on an established securities market, the Fair Market Value of a share of Stock shall be the
closing price of the Stock on such exchange or in such market (if there is more than one such exchange or market the Board shall determine the appropriate exchange or market) on (i) the date of grant (if the grant is made before trading
commences on the exchange or securities market or while such exchange or securities market is open for trading) or (ii) the next trading day after the date of grant (if the grant is made after the exchange or securities market closes on a
trading day or if the grant is made on a day that is not a trading day on such exchange or securities market). If there is no such reported closing price on the applicable date as specified in the immediately preceding sentence, the Fair Market
Value shall be the mean between the highest bid and lowest asked prices or between the high and low sale prices on the applicable date as specified in the immediately preceding sentence. If on the date of grant the Stock is not listed on such an
exchange or traded on such a market, Fair Market Value shall be the value of the Stock as determined by the Board by the reasonable application of a reasonable valuation method, in a manner consistent with Code Section 409A. 
 2.11. “Manager” means the entity, if any, providing management services to the Company, currently Colony Financial
Manager, LLC, or any entity providing management services to the Company. 
 2.12. “Other Stock-Based
Award” means a right or other interest granted to a Participant that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Stock, including but not limited to Stock options,
unrestricted shares of Stock or dividend equivalent rights. 
 2.13. “Participant” means an eligible
person who has been granted an Award under the Plan. 
 2.14. “Plan” means this Colony Financial, Inc.
2009 Non-Executive Director Stock Plan, as amended from time to time. 
 2.15. “Restricted Stock” means
an Award of shares of Stock to a Participant under Section 6.2(i) that may be subject to certain restrictions and to a risk of forfeiture. 
 2.16. “Restricted Stock Unit” or “RSU” means a right granted to a Participant under Section 6.2(ii) to receive Stock, cash or other property at the end of a
specified period, which right may be conditioned on the satisfaction of specified performance or other criteria. 
 2.17.
“Securities Act” means the Securities Act of 1933, as amended from time to time, and the rules and regulations promulgated thereunder. 
 2.18. “Stock” means shares of the common stock, par value $0.01 per share, of the Company. 
  

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 3. ADMINISTRATION 
 The Plan shall be administered by the Board. Except with respect to the amendment, modification, suspension or early termination of the Plan,
the Board may appoint a Committee to administer all or a portion of the Plan. To the extent that the Board so delegates its authority, references herein to the Board shall be deemed references to such Committee. The Board may delegate to one or more
agents such administrative duties as it may deem advisable, and the Committee or any other person to whom the Board has delegated duties as aforesaid may employ one or more persons to render advice with respect to any responsibility the Board or
such Committee or person may have under the Plan. No member of the Board or the Committee shall be liable for any action taken or determination made in good faith with respect to the Plan or any Award granted hereunder. 
 The Board shall have the authority in its discretion, subject to and not inconsistent with the express provisions of the Plan, to administer
the Plan and to exercise all the powers and authorities either specifically granted to it under the Plan or necessary or advisable in the administration of the Plan, including, without limitation, the authority to: (i) grant Awards;
(ii) determine the persons to whom, and the time or times at which, Awards shall be granted; (iii) determine the type and number of Awards to be granted, the number of shares of Stock to which an Award may relate and the terms, conditions,
restrictions and performance criteria relating to any Award; (iv) determine whether, to what extent, and under what circumstances an Award may be settled, cancelled, forfeited, exchanged, or surrendered; (v) make adjustments in the terms
and conditions of Awards; (vi) construe and interpret the Plan and any Award; (vii) prescribe, amend and rescind rules and regulations relating to the Plan; (viii) determine the terms and provisions of the Award Agreements (which need
not be identical for each Participant); and (ix) make all other determinations deemed necessary or advisable for the administration of the Plan. All decisions, determinations and interpretations of the Board shall be final and binding on all
persons, including but not limited to the Company, any parent or subsidiary of the Company, any Participant (or any person claiming any rights under the Plan from or through any Participant) and any stockholder. Notwithstanding any provision of the
Plan or any Award Agreement to the contrary, except as provided in the second paragraph of Section 5, neither the Board nor the Committee may take any action which would have the effect of reducing the aggregate exercise, base or purchase price
of any Award without obtaining the approval of the Company’s stockholders. 
 4. ELIGIBILITY 
 Awards may be granted, in the discretion of the Board, to directors of the Company who are not officers of the Company. In determining the
persons to whom Awards shall be granted and the type of any Award (including the number of shares to be covered by such Award), the Board shall take into account such factors as the Board shall deem relevant in connection with accomplishing the
purposes of the Plan. 
  

 - 4 - 

 5. STOCK SUBJECT TO THE PLAN 
 The maximum number of shares of Stock reserved for the grant of Awards under the Plan shall be equal to 100,000, subject to adjustment as
provided herein. Stock issued under the Plan may, in whole or in part, be authorized but unissued shares or shares that shall have been or may be reacquired by the Company in the open market, in private transactions or otherwise. If any shares
subject to an Award are forfeited, cancelled, exchanged or surrendered or if an Award terminates or expires without a distribution of shares to the Participant, or if shares of Stock are surrendered or withheld by the Company as payment of either
the purchase price of an Award and/or withholding taxes in respect of an Award, the shares of Stock with respect to such Award shall, to the extent of any such forfeiture, cancellation, exchange, surrender, withholding, termination or expiration,
again be available for Awards under the Plan. 
 In the event that the Board shall determine that any dividend or other
distribution (whether in the form of cash, Stock, or other property), recapitalization, Stock split, reverse split, reorganization, merger, consolidation, spin-off, combination, repurchase, or share exchange, or other similar corporate transaction
or event, affects the Stock such that an adjustment is appropriate in order to prevent dilution or enlargement of the rights of Participants under the Plan, then the Board shall make equitable changes or adjustments to any or all of: (i) the
number and kind of shares of Stock or other property (including cash) that may thereafter be issued in connection with Awards; (ii) the number and kind of shares of Stock or other property (including cash) issued or issuable in respect of
outstanding Awards; (iii) the purchase price relating to any Award and (iv) the performance goals, if any, applicable to outstanding Awards. In addition, the Board may determine that any such equitable adjustment may be accomplished by
making a payment to the Award holder, in the form of cash or other property (including but not limited to shares of Stock). 
 6. TERMS OF AWARDS 
 6.1 General. The term of each Award shall be for such period as may be determined by
the Board. Subject to the terms of the Plan and any applicable Award Agreement, payments to be made by the Company upon the grant, vesting or delivery of an Award may be made in such forms as the Board shall determine at the date of grant or
thereafter, including, without limitation, cash, Stock or other property, and may be made in a single payment or transfer, in installments or on a deferred basis (in accordance with Section 8.13). The Board may make rules relating to
installment or deferred payments with respect to Awards, including the rate of interest to be credited with respect to such payments. In addition to the foregoing, the Board may impose on any Award or the exercise thereof, at the date of grant or
thereafter, such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Board shall determine. 
 6.2 Terms of Specified Awards. The Board is authorized to grant the Awards described in this Section 6.2, under such terms and conditions as deemed by the Board to be consistent with the purposes of the Plan. Such Awards may be
granted with vesting, value and/or and payment contingent upon attainment of one or more performance goals. Except as otherwise set forth herein or as may be determined by the Board, each Award granted under the Plan shall be evidenced by an Award
Agreement containing such terms and conditions applicable to such Award as the Board shall determine at the date of grant or thereafter. 
  

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 (i) Restricted Stock. The Board is authorized to grant Restricted Stock to
Participants on the following terms and conditions: 
 (A) Issuance and Restrictions. Restricted Stock shall be subject
to such restrictions on transferability and other restrictions, if any, as the Board may impose at the date of grant or thereafter, which restrictions may lapse separately or in combination at such times, under such circumstances, in such
installments, or otherwise, as the Board may determine. The Board may place restrictions on Restricted Stock that shall lapse, in whole or in part, only upon the attainment of one or more performance goals. Unless otherwise determined by the Board,
a Participant granted Restricted Stock shall have all of the rights of a stockholder including, without limitation, the right to vote Restricted Stock and the right to receive dividends thereon. 
 (B) Forfeiture. Upon termination of service to the Company during the applicable restriction period, any unvested Restricted Stock
and any accrued but unpaid dividends shall be forfeited; provided, that the Board may provide, by rule or regulation or in any Award Agreement, or may determine in any individual case, that restrictions or forfeiture conditions relating to
Restricted Stock will be waived in whole or in part in the event of terminations resulting from specified causes, and the Board may in other cases waive in whole or in part the forfeiture of Restricted Stock. 
 (C) Certificates for Stock. Restricted Stock granted under the Plan may be evidenced in such manner as the Board shall determine. If
certificates representing Restricted Stock are registered in the name of the Participant, such certificates shall bear an appropriate legend referring to the terms, conditions and restrictions applicable to such Restricted Stock, and the Company
shall retain physical possession of the certificate. 
 (D) Dividends/Distributions. Unless otherwise determined by the
Board, except as provided in the immediately following sentence, dividends and distributions paid on Restricted Stock shall be paid at the dividend or distribution payment date in the same form as dividends and distributions are paid to other
Company stockholders. Unless otherwise determined by the Board, Stock distributed in connection with a stock split or stock dividend, and other property distributed as a dividend or distribution, shall be subject to restrictions and a risk of
forfeiture to the same extent as the Restricted Stock with respect to which such Stock or other property has been distributed. 
 (ii) Restricted Stock Units. The Board is authorized to grant RSUs to Participants, subject to the following terms and conditions: 
 (A) Award and Restrictions. Delivery of Stock, cash or other property, as determined by the Board, will occur upon expiration of the period specified for RSUs by the Board during which forfeiture
conditions apply, or such later date as the Board shall determine. The Board may place restrictions on RSUs that shall lapse, in whole or in part, only upon the attainment of one or more performance goals. 
  

 - 6 - 

 (B) Forfeiture. Upon termination of service to the Company prior to the vesting of
RSUs, or upon failure to satisfy any other conditions precedent to the delivery of Stock or cash to which such RSUs relate, all RSUs and any accrued but unpaid dividend equivalents that are then subject to deferral or restriction shall be forfeited;
provided, that the Board may provide, by rule or regulation or in any Award Agreement, or may determine in any individual case, that restrictions or forfeiture conditions relating to RSUs will be waived in whole or in part in the event of
termination resulting from specified causes, and the Board may in other cases waive in whole or in part the forfeiture of RSUs. 
 (C) Dividend/Distribution Equivalents. The Board is authorized to grant to Participants the right to receive dividend equivalent payments and/or distribution equivalent payments for the period prior to settlement of the RSU. Dividend
equivalents or distribution equivalents may be paid currently or credited to an account for the Participant, and may be settled in cash or Stock, as determined by the Board. Any such settlements, and any such crediting of dividend equivalents or
distribution equivalents or reinvestment in Stock, may be subject to such conditions, restrictions and contingencies as the Board shall establish, including the reinvestment of such credited amounts in Stock equivalents. Unless otherwise determined
by the Board, any such dividend equivalents or distribution equivalents shall be paid or credited, as applicable, on the dividend payment date to the Participant as though each RSU held by such Participant were a share of outstanding Stock.

 (iii) Other Stock-Based Awards. The Board is authorized to grant Awards to Participants in the form of Other
Stock-Based Awards, as deemed by the Board to be consistent with the purposes of the Plan. Awards granted pursuant to this paragraph may be granted with vesting, value and/or payment contingent upon the attainment of one or more performance goals.
The Board shall determine the terms and conditions of such Awards at the date of grant or thereafter. Without limiting the generality of this paragraph, Other Stock-Based Awards may include grants of shares of Stock that are not subject to any
restrictions or a substantial risk of forfeiture. Upon termination of service to the Company prior to the vesting of an Other Stock-Based Award, or upon failure to satisfy any other conditions precedent to the delivery of Stock or cash to which such
Other Stock-Based Award relates, all Other Stock-Based Awards that are then subject to deferral or restriction shall be forfeited; provided, that the Board may provide, by rule or regulation or in any Award Agreement, or may determine in any
individual case, that restrictions or forfeiture conditions relating to such Other Stock-Based Award will be waived in whole or in part in the event of termination resulting from specified causes, and the Board may in other cases waive in whole or
in part the forfeiture of such Other Stock-Based Award. 
 7. CHANGE IN CONTROL 
 Upon the occurrence of a Change in Control in which outstanding Restricted Stock, RSUs and Other Stock-Based Awards are not being assumed or
continued, all outstanding Restricted Stock shall be deemed to have vested, all RSUs shall be deemed to have vested and the shares of Stock subject thereto shall be delivered, and all Other Stock-Based Awards shall be deemed to have vested and such
other provisions shall apply as might be set forth in the Award Agreement, immediately prior to the occurrence of such Change in Control, and the Board may elect, in its sole discretion, to cancel any outstanding Awards of Restricted Stock, RSUs, or
Other Stock-Based Awards and pay or deliver, or cause to be paid or delivered, to the holder thereof an amount in cash or securities having a value (as determined by the Board acting in good faith), equal to the formula or fixed price per share paid
to holders of shares of Stock. 
  

 - 7 - 

 The Plan, RSUs, Restricted Stock and Other Stock-Based Awards theretofore granted shall
continue in the manner and under the terms so provided in the event of any Change in Control to the extent that provision is made in writing in connection with such Change in Control for the assumption or continuation of the RSUs, Restricted Stock
and Other Stock-Based Awards theretofore granted, or for the substitution for such RSUs, Restricted Stock and Other Stock-Based Awards for new common RSUs, Restricted Stock and Other Stock-Based Awards relating to the stock of a successor entity, or
a parent or subsidiary thereof, with appropriate adjustments as to the number of shares (disregarding any consideration that is not common stock). 
 The Board may provide in the Award Agreements at the time of grant, or any time thereafter with the consent of the Participant, for different provisions to apply to an Award in place of those described in
this Section 7. This Section 7 does not limit the Company’s ability to provide for alternative treatment of Awards outstanding under the Plan in the event of change in control events that are not Change in Controls. 
 8. GENERAL PROVISIONS 
 8.1 Nontransferability. Unless otherwise provided in an Award Agreement, Awards shall not be transferable by a Participant except by will or the laws of descent and distribution and shall be
exercisable during the lifetime of a Participant only by such Participant or his guardian or legal representative. 
 8.2 No
Right to Continued Service, etc. Nothing in the Plan or in any Award, any Award Agreement or other agreement entered into pursuant hereto shall confer upon any Participant the right to continue as a director of, or continue to provide services
to, the Company or any parent, subsidiary or Affiliate of the Company or the Manager or to be entitled to any remuneration or benefits not set forth in the Plan or such Award Agreement or other agreement or to interfere with or limit in any way the
right of the Company to terminate such Participant’s service. 
 8.3 Taxes. The Company or any parent or subsidiary
of the Company is authorized to withhold from any Award granted, any payment relating to an Award under the Plan, including from a distribution of Stock, or any other payment to a Participant, amounts of withholding and other taxes due in connection
with any transaction involving an Award, and to take such other action as the Board may deem advisable to enable the Company and Participants to satisfy obligations for the payment of withholding taxes and other tax obligations relating to any
Award. This authority shall include authority to withhold or receive Stock or other property and to make cash payments in respect thereof in satisfaction of a Participant’s tax obligations. The Board may provide in the Award Agreement that in
the event that a Participant is required to pay any amount to be withheld in connection with the issuance of shares of Stock in settlement or exercise of an Award, the Participant may satisfy such obligation (in whole or in part) by electing to have
the Company withhold a portion of the shares of Stock to be received upon settlement or exercise of such Award that is equal to the minimum amount required to be withheld. 
  

 - 8 - 

 8.4 Effective Date; Amendment and Termination 
 (i) The Plan shall take effect upon the Effective Date. 
 (ii) The Board may at any time and from time to time terminate, amend, modify or suspend the Plan in whole or in part; provided, however, that unless otherwise determined by the Board, an amendment that
requires stockholder approval in order for the Plan to comply with any law, regulation or stock exchange requirement shall not be effective unless approved by the requisite vote of stockholders. The Board may at any time and from time to time amend
any outstanding Award in whole or in part. Notwithstanding the foregoing sentence of this clause (ii), no amendment or modification to or suspension or termination of the Plan or amendment of any Award shall affect adversely any of the rights of any
Participant, without such Participant’s consent, under any Award theretofore granted under the Plan. 
 8.5 Expiration
of Plan. Unless earlier terminated by the Board pursuant to the provisions of the Plan, the Plan shall expire on the tenth anniversary of the Effective Date. No Awards shall be granted under the Plan after such expiration date. The expiration of
the Plan shall not affect adversely any of the rights of any Participant, without such Participant’s consent, under any Award theretofore granted. 
 8.6 Deferrals. The Board shall have the authority to establish such procedures and programs that it deems appropriate (in accordance with Section 8.13) to provide Participants with the ability
to defer receipt of cash, Stock or other property payable with respect to Awards granted under the Plan. 
 8.7 No Rights to
Awards; No Stockholder Rights. No Participant shall have any claim to be granted any Award under the Plan. There is no obligation for uniformity of treatment among Participants. Except as provided specifically herein, a Participant or a
transferee of an Award shall have no rights as a stockholder with respect to any shares covered by the Award until the date of the issuance of a stock certificate to him for such shares. 
 8.8 Unfunded Status of Awards. The Plan is intended to constitute an “unfunded” plan for incentive and deferred
compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award shall give any such Participant any rights that are greater than those of a general creditor of the Company.

 8.9 No Fractional Shares. No fractional shares of Stock shall be issued or delivered pursuant to the Plan or any
Award. The Board shall determine whether cash, other Awards or other property shall be issued or paid in lieu of such fractional shares or whether such fractional shares or any rights thereto shall be forfeited or otherwise eliminated. 

8.10 Regulations and Other Approvals 
 (i) The obligation of the Company to sell or deliver Stock with respect to any Award granted under the Plan shall be subject to all applicable laws, rules and regulations, including all applicable federal
and state securities laws, and the obtaining of all such approvals by governmental agencies as may be deemed necessary or appropriate by the Board. 
  

 - 9 - 

 (ii) Each Award is subject to the requirement that, if at any time the Board determines, in
its absolute discretion, that the listing, registration or qualification of Stock issuable pursuant to the Plan is required by any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory body
is necessary or desirable as a condition of, or in connection with, the grant of an Award or the issuance of Stock, no such Award shall be granted or payment made or Stock issued, in whole or in part, unless listing, registration, qualification,
consent or approval has been effected or obtained free of any conditions not acceptable to the Board. 
 (iii) In the event that
the disposition of Stock acquired pursuant to the Plan is not covered by a then-current registration statement under the Securities Act and is not otherwise exempt from such registration, such Stock shall be restricted against transfer to the extent
required by the Securities Act or regulations thereunder, and the Board may require a Participant receiving Stock pursuant to the Plan, as a condition precedent to receipt of such Stock, to represent to the Company in writing that the Stock acquired
by such Participant is acquired for investment only and not with a view to distribution. 
 (iv) The Board may require a
Participant receiving Stock pursuant to the Plan, as a condition precedent to receipt of such Stock, to enter into a stockholder agreement or “lock-up” agreement in such form as the Board shall determine is necessary or desirable to
further the Company’s interests. 
 8.11 Registration on Form S-8. The Company shall file with the Securities and
Exchange Commission a registration statement on Form S-8 with respect to the securities to be offered to Participants under the Plan and shall during the term of the Plan keep such registration statement effective. 
 8.12 Governing Law. The validity and construction of this Plan and the instruments evidencing the Awards hereunder shall be governed
by the laws of the State of Maryland, other than any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Plan and the instruments evidencing the Awards granted hereunder to the substantive
laws of any other jurisdiction. 
 8.13 Section 409A. The Company intends to comply with Code Section 409A, or
an exemption to Section 409A, with regard to Awards hereunder that constitute nonqualified deferred compensation within the meaning of Section 409A. To the extent that the Company determines that a Participant would be subject to the
additional twenty percent (20%) tax imposed on certain nonqualified deferred compensation plans pursuant to Section 409A as a result of any provision of any Award granted under this Plan, such provision shall be deemed amended to the
minimum extent necessary to avoid application of such additional tax. The nature of any such amendment shall be determined by the Board. 
  

 - 10 -Del Monte Foods Company Deferred Compensation Plan

 Exhibit 10.2 
 Del Monte Foods Company Deferred Compensation Plan 
 Plan Provisions – Adoption Agreement 

  

							
	1.01	 	PREAMBLE
		
		 	By the execution of this Adoption Agreement the Plan Sponsor hereby [complete (a) or (b)]
				
		 	(a)	 	x	  	adopts a new plan as of October 1, 2009 [month, day, year]
				
		 	(b)	 	 ̈	  	amends and restates its existing plan as of                      [month, day, year]
which is the Amendment Restatement Date. Except as otherwise provided in Appendix A, all amounts deferred under the Plan prior to the Amendment Restatement Date shall be governed by the terms of the Plan as in effect on the day before the Amendment
Restatement Date.
				
		 		 		  	Original Effective Date:                      [month, day, year]
				
		 		 		  	Pre-409A Grandfathering:         ̈  Yes     ̈  No

					
	  
 1.02
	 	  
 PLAN

			
		 	Plan Name:	 	 Del Monte Foods Company Deferred Compensation Plan

		
		 	Plan Year: The period that is Del Monte Foods Company’s fiscal year, commencing each year on the first day of the Del Monte Foods Company’s fiscal year (the first Monday
after the Sunday closest to the end of April) and ending each year on the last day of Del Monte Foods Company’s fiscal year (the Sunday closest to the end of April). Plan Year shall also mean the same as fiscal year or “FY”. The
year designating a Plan Year refers to the calendar year in which the fiscal year ends (e.g., FY2010 ends May 2, 2010).

							
		
	  
 1.03
	 	  
 PLAN SPONSOR

			
		 	Name:	 	 Del Monte Foods Company

			
		 	Address:	 	 One Market @ The Landmark, San Francisco, California 94105

			
		 	Phone # :	 	 415 247-3000

			
		 	EIN:	 	 13-3542950

			
		 	Fiscal Yr:	 	 Ending on the Sunday closest to the end of April

		
		 	Is stock of the Plan Sponsor, any Employer or any Related Employer publicly traded on an established securities market?
		
		 	    x  Yes          ̈  No

  

 - 1 - 

									
	1.04	  	EMPLOYER	    	
		
		  	The following entities have been authorized by the Plan Sponsor to participate in and have adopted the Plan (insert “Not Applicable” if none have been
authorized):
			
		  	Entity	  	Publicly Traded on Est. Securities Market
					
		  		  		    	Yes	    	No
		  	 Del Monte Corporation
	  		    	 ̈	    	x
					
		  	 See below
	  		    	 ̈	    	 ̈
					
		  	  
	  		    	 ̈	    	 ̈
					
		  	  
	  		    	 ̈	    	 ̈
					
		  	  
	  		    	 ̈	    	 ̈
					
		  	  
	  		    	 ̈	    	 ̈
					
		  	 The Plan Sponsor, by action of its Board of Directors or Compensation Committee, may designate any
affiliate of the Plan Sponsor from time to time be a participating employer under the Plan.
	  		    		    	

  

					
	1.05	  	ADMINISTRATOR
		
		  	The Plan Sponsor has designated the following party or parties to be responsible for the administration of the Plan:
			
		  	Name:	  	 Compensation Committee of the Board of Directors of Del Monte Foods Company

			
		  	Address:	  	 One Market @ The Landmark, San Francisco, California 94105

		
		  	 Note:     The Administrator is the person or persons designated by the Plan Sponsor
to be responsible for the administration of the Plan. Neither Fidelity Employer Services Company nor any other Fidelity affiliate can be the Administrator.

  

			
	1.06	  	KEY EMPLOYEE DETERMINATION DATES
		
		  	The Employer has designated                      as the
Identification Date for purposes of determining Key Employees.
		
		  	In the absence of a designation, the Identification Date is December 31.
		
		  	The Employer has designated                      as the
effective date for purposes of applying the six month delay in distributions to Key Employees.
		
		  	In the absence of a designation, the effective date is the first day of the fourth month following the Identification Date.

  

 - 2 - 

									
	2.01	  	PARTICIPATION
				
		  	(a)	  	x	  	Employees [complete (i), (ii) or (iii)]
					
		  		  	(i)	  	 ̈	  	Eligible Employees are selected by the Employer.
					
		  		  	(ii)	  	x	  	Eligible Employees are those employees of the Employer who satisfy the following criteria:
					
		  		  		  		  	 Employees who are at a salary grade 40 or above

					
		  		  		  		  	  

					
		  		  		  		  	  

					
		  		  		  		  	  

					
		  		  		  		  	  

					
		  		  	(iii)	  	 ̈	  	Employees are not eligible to participate.
				
		  	(b)	  	 ̈	  	Directors [complete (i), (ii) or (iii)]
					
		  		  	(i)	  	 ̈	  	All Directors are eligible to participate.
					
		  		  	(ii)	  	 ̈	  	Only Directors selected by the Employer are eligible to participate.
					
		  		  	(iii)	  	x	  	Directors are not eligible to participate.

  

 - 3 - 

							
	3.01	  	COMPENSATION
		
		  	For purposes of determining Participant contributions under Article 4 and Employer contributions under Article 5, Compensation shall be defined in the following manner
[complete (a) or (b) and select (c) and/or (d), if applicable]:
				
		  	(a)	  	x	  	Compensation is defined as:
				
		  		  		  	 Cash Annual Incentive Award

				
		  		  		  	  

				
		  		  		  	  

				
		  		  		  	  

				
		  		  		  	  

				
		  		  		  	  

				
		  	(b)	  	 ̈	  	Compensation as defined in              [insert name of qualified plan] without regard to the limitation in
Section 401(a)(17) of the Code for such Plan Year.
				
		  	(c)	  	 ̈	  	Director Compensation is defined as:
				
		  		  		  	  

				
		  		  		  	  

				
		  		  		  	  

				
		  	(d)	  	 ̈	  	Compensation shall, for all Plan purposes, be limited to $            .
				
		  	(e)	  	 ̈	  	Not Applicable.

  

							
	3.02	 	BONUSES	  	
		
		 	Compensation, as defined in Section 3.01 of the Adoption Agreement, includes the following type of bonuses:
			
		 	Type	  	Will be treated as Performance
 Based Compensation

				
		 		  	Yes	  	No
				
		 	 Cash Annual Incentive Award, except as provided below
	  	x	  	 ̈
				
		 	 Cash Annual Incentive Award for Participants who have attained age 55 with 10 Years of Service (as
defined in the Appendix A) and are not Section 16 Officers
	  	 ̈	  	x
				
		 	  
	  	 ̈	  	 ̈
				
		 	  
	  	 ̈	  	 ̈
				
		 	  
	  	 ̈	  	 ̈
				
		 	 ̈  Not Applicable.	  		  	

  

 - 4 - 

					
	4.01	  	PARTICIPANT CONTRIBUTIONS
		
		  	If Participant contributions are permitted, complete (a), (b), and (c). Otherwise complete (d).
			
		  	(a)	  	Amount of Deferrals
			
		  		  	A Participant may elect within the period specified in Section 4.01(b) of the Adoption Agreement to defer the following amounts of remuneration. For each type of remuneration
listed, complete “dollar amount” and / or “percentage amount”.
			
		  		  	 (i)     Compensation Other than Bonuses [do not complete if you complete (iii)]

  

														
	 Type of Remuneration
	  	Dollar Amount	  	% Amount	 	 	Increment	 
	  	Min	  	Max	  	Min	 	 	Max	 	 
	(a)	  		  		  			 			 		
	(b)	  		  		  			 			 		
	(c)	  		  		  			 			 		
	
	Note: The increment is required to determine the permissible deferral amounts. For example, a minimum of 0% and maximum of 20% with a 5% increment would allow an
individual to defer 0%, 5%, 10%, 15% or 20%.	   
	
	 (ii)    Bonuses [do not complete if you complete (iii)]
	        

				
	 Type of Bonus
	  	Dollar Amount	  	% Amount	 	 	Increment	 
	  	Min	  	Max	  	Min	 	 	Max	 	 
	 (a) Cash Annual Incentive Award
	  		  		  	5	% 	 	100	% 	 	1	% 
	 (b)
	  		  		  			 			 		
	 (c)
	  		  		  			 			 		
		
	 (iii)   Compensation [do not complete if you completed (i) and (ii)]
	      
	 		

									
	
			
	        Dollar Amount        	  	            % Amount            	  	 Increment

	         Min        
	  	        Max        	  	        Min        	  	        Max        	  
		  		  		  		  	

									
			
	 (iv)   Director Compensation
	  		  	

  

											
	 Type of Compensation
	  	Dollar Amount	  	% Amount	  	Increment
	  	Min	  	Max	  	Min	  	Max	  
	Annual Retainer	  		  		  		  		  	
	Meeting Fees	  		  		  		  		  	
	Other:	  		  		  		  		  	
	Other:	  		  		  		  		  	

  

 - 5 - 

													
		  	(b)	  	Election Period
				
		  		  	(i)	 	Performance Based Compensation
				
		  		  		 	A special election period
							
		  		  		 	x	  	Does	    	 ̈	  	Does Not
				
		  		  		 	apply to each eligible type of performance based compensation referenced in Section 3.02 of the Adoption Agreement. The special election period, if applicable, will
be determined by the Employer.
				
		  		  	(ii)	 	Newly Eligible Participants
				
		  		  		 	An employee who is classified or designated as an Eligible Employee during a Plan Year
							
		  		  		 	x	  	May	    	 ̈	  	May Not
				
		  		  		 	elect to defer Compensation earned during the remainder of the Plan Year by completing a deferral agreement within the 30 day period beginning on the date he is
eligible to participate in the Plan.
			
		  	(c)	  	Revocation of Deferral Agreement
			
		  		  	A Participant’s deferral agreement
						
		  		  	x	 	Will	    		  	
						
		  		  	 ̈	 	Will Not	    		  	
			
		  		  	be cancelled for the remainder of any Plan Year during which he receives a hardship distribution of elective deferrals from a qualified cash or deferred arrangement
maintained by the Employer. If cancellation occurs, the Participant may resume participation in accordance with Article 4 of the Plan.
			
		  	(d)	  	No Participant Contributions
				
		  		  	 ̈	 	Participant contributions are not permitted under the Plan.

  

 - 6 - 

											
	5.01	  	EMPLOYER CONTRIBUTIONS
		
		  	If Employer contributions are permitted, complete (a) and/or (b). Otherwise complete (c).
			
		  	(a)	  	Matching Contributions
				
		  		  	(i)	  	Amount
				
		  		  		  	For each Plan Year, the Employer shall make a Matching Contribution on behalf of each Participant who defers Compensation for the Plan Year and satisfies the
requirements of Section 5.01(a)(ii) of the Adoption Agreement equal to [complete the ones that are applicable]:
					
		  		  		  	(A)	 	 ̈                 [insert
percentage] of the Compensation the Participant has elected to defer for the Plan Year
					
		  		  		  	(B)	 	 ̈    An amount determined by the Employer in its sole discretion
					
		  		  		  	(C)	 	 ̈    Matching Contributions for each Participant shall be limited to
$             and/or     % of Compensation.
						
		  		  		  	(D)	 	 ̈    Other:	  	
					
		  		  		  		 	                                        
                                         
      

					
		  		  		  		 	                                        
                                         
      

					
		  		  		  	(E)	 	 ̈    Not Applicable [Proceed to Section 5.01(b)]
				
		  		  	(ii)	  	Eligibility for Matching Contribution
				
		  		  		  	A Participant who defers Compensation for the Plan Year shall receive an allocation of Matching Contributions determined in accordance with Section 5.01(a)(i) provided
he satisfies the following requirements [complete the ones that are applicable]:
						
		  		  		  	(A)	 	 ̈    Describe requirements:	  	
						
		  		  		  		 	                                       
                                         
    	  	
						
		  		  		  		 	                                       
                                         
    	  	
					
		  		  		  	(B)	 	 ̈    Is selected by the Employer in its sole discretion to receive an allocation of Matching
Contributions
					
		  		  		  	(C)	 	 ̈    No requirements

  

 - 7 - 

											
		  		  	(iii)	 	Time of Allocation
				
		  		  		 	Matching Contributions, if made, shall be treated as allocated [select one]:
						
		  		  		 	(A)	 	 ̈	  	As of the last day of the Plan Year
						
		  		  		 	(B)	 	 ̈	  	At such times as the Employer shall determine in it sole discretion
						
		  		  		 	(C)	 	 ̈	  	At the time the Compensation on account of which the Matching Contribution is being made would otherwise have been paid to the Participant
						
		  		  		 	(D)	 	 ̈	  	Other:
		  		  		 		 		  	                                        
                                     

						
		  		  		 		 		  	                                       
                                     
			
		  	(b)	  	Other Contributions
				
		  		  	(i)	 	Amount
				
		  		  		 	The Employer shall make a contribution on behalf of each Participant who satisfies the requirements of Section 5.01(b)(ii) equal to [complete the ones that are
applicable]:
						
		  		  		 	(A)	 	 ̈	  	An amount equal to      [insert number] % of the Participant’s Compensation
						
		  		  		 	(B)	 	 ̈	  	An amount determined by the Employer in its sole discretion
						
		  		  		 	(C)	 	 ̈	  	Contributions for each Participant shall be limited to $         
						
		  		  		 	(D)	 	 ̈	  	Other:
		  		  		 		 		  	                                        
                                     

						
		  		  		 		 		  	                                       
                                     
						
		  		  		 		 		  	                                       
                                     
						
		  		  		 	(E)	 	 ̈	  	Not Applicable [Proceed to Section 6.01]

  

 - 8 - 

											
		  		  	(ii)	 	Eligibility for Other Contributions
				
		  		  		 	A Participant shall receive an allocation of other Employer contributions determined in accordance with Section 5.01(b)(i) for the Plan Year if he satisfies the
following requirements [complete the one that is applicable]:
						
		  		  		 	(A)	 	 ̈	  	Describe requirements:
						
		  		  		 		 		  	                                       
                                     
						
		  		  		 		 		  	                                       
                                     
						
		  		  		 	(B)	 	 ̈	  	Is selected by the Employer in its sole discretion to receive an allocation of other Employer contributions
						
		  		  		 	(C)	 	 ̈	  	No requirements
				
		  		  	(iii)	 	Time of Allocation
				
		  		  		 	Employer contributions, if made, shall be treated as allocated [select one]:
						
		  		  		 	(A)	 	 ̈	  	As of the last day of the Plan Year
						
		  		  		 	(B)	 	 ̈	  	At such time or times as the Employer shall determine in its sole discretion
						
		  		  		 	(C)	 	 ̈	  	Other:
						
		  		  		 		 		  	                                       
                                     
						
		  		  		 		 		  	                                       
                                     
						
		  		  		 		 		  	                                       
                                     
			
		  	(c)	  	No Employer Contributions
				
		  		  	x	 	Employer contributions are not permitted under the Plan.

  

 - 9 - 

											
	6.01	  	DISTRIBUTIONS
		
		  	The timing and form of payment of distributions made from the Participant’s vested Account shall be made in accordance with the elections made in this Section 6.01
of the Adoption Agreement except when Section 9.6 of the Plan requires a six month delay for certain distributions to Key Employees of publicly traded companies.
			
		  	(a)	  	Timing of Distributions
				
		  		  	(i)	  	All distributions shall commence in accordance with the following [choose one]:
						
		  		  		  	(A)	 	 ̈	  	As soon as administratively feasible following the distribution event
						
		  		  		  	(B)	 	x	  	Monthly on specified day 15th day of the month following the end of the month in which the sixth month anniversary of the Participant’s Separation of Service or Disability
occurs [insert day]
						
		  		  		  	(C)	 	 ̈	  	Annually on specified month and day              [insert month and day]
						
		  		  		  	(D)	 	 ̈	  	Calendar quarter on specified month and day [         month of quarter (insert 1,2 or 3);      day (insert
day)]
				
		  		  	(ii)	  	The timing of distributions as determined in Section 6.01(a)(i) shall be modified by the adoption of:
						
		  		  		  	(A)	 	 ̈	  	Event Delay – Distribution events other than those based on Specified Date or Specified Age will be treated as not having occurred for
         months [insert number of months].
						
		  		  		  	(B)	 	 ̈	  	Hold Until Next Year – Distribution events other than those based on Specified Date or Specified Age will be treated as not having occurred for twelve months from the date of
the event if payment pursuant to Section 6.01(a)(i) will thereby occur in the next calendar year or on the first payment date in the next calendar year in all other cases.
						
		  		  		  	(C)	 	x	  	Immediate Processing – The timing method selected by the Plan Sponsor under Section 6.01(a)(i) shall be overridden for the following distribution events [insert
events]:
						
		  		  		  		 		  	Death                        
						
		  		  		  		 		  	                                   
						
		  		  		  	(D)	 	 ̈	  	Not applicable.

  

 - 10 - 

													
		 	(b)	  	Distribution Events
			
		 		  	Participants may elect the following payment events and the associated form or forms of payment. If multiple events are selected, the earliest to occur will trigger
payment. For installments, insert the range of available periods (e.g., 5-15) or insert the periods available (e.g., 5,7,9).
	 	 	 	  	 	 	 	  	 	  	Lump
Sum	    	Installments
							
		 		  	(i)	 	x	  	Specified Date	  	X	    	2 - 10 years
							
		 		  	(ii)	 	 ̈	  	Specified Age	  	            	    	             years
							
		 		  	(iii)	 	 ̈	  	Separation from Service	  	            	    	             years
							
		 		  	(iv)	 	x	  	Separation from Service plus 6 months	  	X	    	2 – 10 years
							
		 		  	(v)	 	 ̈	  	Separation from Service plus              months [not to exceed
             months]	  	            	    	             years
							
		 		  	(vi)	 	 ̈	  	Retirement	  	            	    	             years
							
		 		  	(vii)	 	 ̈	  	Retirement plus 6 months	  	            	    	             years
							
		 		  	(viii)	 	 ̈	  	Retirement plus              months [not to exceed
             months]	  	            	    	             years
							
		 		  	(ix)	 	 ̈	  	Later of Separation from Service or Specified Age	  	            	    	             years
							
		 		  	(x)	 	 ̈	  	Later of Separation from Service or Specified Date	  	            	    	             years
							
		 		  	(xi)	 	 ̈	  	Disability	  	            	    	             years
							
		 		  	(xii)	 	 ̈	  	Death	  	            	    	             years
							
		 		  	(xiii)	 	 ̈	  	Change in Control	  	            	    	             years
			
		 		  	The minimum deferral period for Specified Date or Specified Age event shall be             
years.
			
		 		  	Installments may be paid [select each that applies]
						
		 		  	 ̈	 	Monthly	  		    	
						
		 		  	 ̈	 	Quarterly	  		    	
						
		 		  	x	 	Annually	  		    	
			
		 	(c)	  	Specified Date and Specified Age elections may not extend beyond age 65 [insert age or “Not Applicable” if no maximum age applies].

  

 - 11 - 

													
		 	(d)	  	Payment Election Override
			
		 		  	Payment of the remaining vested balance of the Participant’s Account will automatically occur at the time specified in Section 6.01(a) of the Adoption Agreement in the form
indicated upon the earliest to occur of the following events [check each event that applies and for each event include only a single form of payment]:

											
					
	 	  	 	  	 EVENTS
	  	 	  	FORM OF PAYMENT
		  	 ̈	  	Separation from Service	  	                    	  	Lump sum                  Installments
		  	x	  	Separation from Service before Retirement	  	        X        	  	Lump sum                  Installments
		  	x	  	Death	  	        X        	  	Lump sum                  Installments
		  	x	  	Disability	  	        X        	  	Lump sum                  Installments
		  	 ̈	  	Not Applicable	  		  		  	

							
			
		 	(e)	  	Involuntary Cashouts
				
		 		  	x	  	If the Participant’s vested Account at the time of his Separation from Service does not exceed $20,000 distribution of the vested Account shall automatically be made in the form
of a single lump sum in accordance with Section 9.5 of the Plan.
				
		 		  	 ̈	  	There are no involuntary cashouts.
			
		 	(f)	  	Retirement
				
		 		  	x	  	Retirement shall be defined as a Separation from Service that occurs on or after the Participant [insert description of requirements]:
				
		 		  		  	Reaches age 55 with 10 Years of Service (as defined in Appendix A)
				
		 		  		  	  

				
		 		  	 ̈	  	No special definition of Retirement applies.

  

 - 12 - 

							
		 	(g)	  	Distribution Election Change
			
		 		  	A Participant
			
		 		  	    x    Shall
		 		  	     ̈    Shall Not
			
		 		  	be permitted to modify a scheduled distribution date and/or payment option in accordance with Section 9.2 of the Plan.
			
		 		  	A Participant shall generally be permitted to elect such modification one time.
			
		 		  	Administratively, allowable distribution events will be modified to reflect all options necessary to fulfill the distribution change election
provision.
			
		 	(h)	  	Frequency of Elections
			
		 		  	The Plan Sponsor
			
		 		  	    x    Has
		 		  	     ̈    Has Not
			
		 		  	Elected to permit annual elections of a time and form of payment for amounts deferred under the Plan.

  

 - 13 - 

													
	7.01    VESTING
			
		 		 	     (a)  Matching Contributions
			
		 		 	 The Participant’s vested interest in the amount credited to his Account attributable to Matching Contributions shall be based on the following
schedule:

							
		 		 		  		  	  ̈        Years of Service
	  	Vesting %	  	
		 		 		  		  	            0	  	            	  	(insert ‘100’ if there is immediate vesting)
		 		 		  		  	            1	  	            	  	
		 		 		  		  	            2	  	            	  	
		 		 		  		  	            3	  	            	  	
		 		 		  		  	            4	  	            	  	
		 		 		  		  	            5	  	            	  	
		 		 		  		  	            6	  	            	  	
		 		 		  		  	            7	  	            	  	
		 		 		  		  	            8	  	            	  	
		 		 		  		  	            9	  	            	  	
							
		 		 		  		  	  ̈        Other:
	  		  	
					
		 		 		  		  	                                       
                                         
             
					
		 		 		  		  	                                       
                                         
             
					
		 		 		  		  	  ̈        Class year vesting
applies.

					
		 		 		  		  	                                       
                                         
             
							
		 		 		  		  	 x       Not applicable.
	  		  	
			
		 		 	     (b)  Other Employer Contributions
			
		 		 	 The Participant’s vested interest in the amount credited to his Account attributable to Employer contributions other than Matching
Contributions shall be based on the following schedule:

							
		 		 		  		  	  ̈        Years of Service
	  	Vesting %	  	
		 		 		  		  	            0	  	            	  	(insert ‘100’ if there is immediate vesting)
		 		 		  		  	            1	  	            	  	
		 		 		  		  	            2	  	            	  	
		 		 		  		  	            3	  	            	  	
		 		 		  		  	            4	  	            	  	
		 		 		  		  	            5	  	            	  	
		 		 		  		  	            6	  	            	  	
		 		 		  		  	            7	  	            	  	
		 		 		  		  	            8	  	            	  	
		 		 		  		  	            9	  	            	  	
							
		 		 		  		  	  ̈        Other:
	  		  	
					
		 		 		  		  	                                       
                                         
             
					
		 		 		  		  	                                       
                                         
             
					
		 		 		  		  	  ̈        Class year vesting
applies.

					
		 		 		  		  	                                       
                                         
             
					
		 		 		  		  	 x       Not applicable.

  

 - 14 - 

											
		 	(c)	  	Acceleration of Vesting
			
		 		  	A Participant’s vested interest in his Account will automatically be 100% upon the occurrence of the following events: [select the ones that are
applicable]:
					
		 		  	(i)	 	 ̈	  	Death
					
		 		  	(ii)	 	 ̈	  	Disability
					
		 		  	(iii)	 	 ̈	  	Change in Control
					
		 		  	(iv)	 	 ̈	  	Eligibility for Retirement
					
		 		  	(v)	 	 ̈	  	Other:                                      
                 
					
		 		  		 		  	                                       
                          
					
		 		  	(vi)	 	x	  	Not applicable.
			
		 	(d)	  	Years of Service
				
		 		  	(i)	 	A Participant’s Years of Service shall include all service performed for the Employer and
					
		 		  		 	 ̈	  	Shall
		 		  		 	 ̈	  	Shall Not
				
		 		  		 	include service performed for the Related Employer.
				
		 		  	(ii)	 	Years of Service shall also include service performed for the following entities:
				
		 		  		 	                                       
                                         
                                         
                                         
                            
				
		 		  		 	                                        
                                         
                                         
                                         
                            

				
		 		  		 	                                       
                                         
                                         
                                         
                            
				
		 		  		 	                                       
                                         
                                         
                                         
                            
				
		 		  		 	                                       
                                         
                                         
                                         
                            

  

																	
					
		 		 		  	(iii)	 	Years of Service shall be determined in accordance with (select one)
								
		 		 		  		 	 (A)	 	 ̈	  	The elapsed time method in Treas. Reg. Sec. 1.410(a)-7	  	
								
		 		 		  		 	 (B)	 	 ̈	  	The general method in DOL Reg. Sec. 2530.200b-1 through b-4	  	
								
		 		 		  		 	 (C)	 	 ̈	  	 The Participant’s Years of Service credited under [insert
 name of plan]
                                         
                               
	  	
								
		 		 		  		 		 		  	                                       
                                         
               	  	
								
		 		 		  		 	 (D)	 	 ̈	  	Other:  
                                        
                                         
 	  	
								
		 		 		  		 		 		  	                                       
                                         
               	  	
								
		 		 		  		 		 		  	                                       
                                         
               	  	
						
		 		 		  	(iv)	 	x Not applicable.	  	

  

 - 15 - 

							
	8.01	 	UNFORESEEABLE EMERGENCY
			
		 	(a)	 	A withdrawal due to an Unforeseeable Emergency as defined in Section 2.24:
				
		 		 	  x	  	Will
		 		 	   ̈	  	Will Not [if Unforeseeable Emergency withdrawals are not permitted, proceed to Section 9.01]
			
		 		 	be allowed.
			
		 	(b)	 	Upon a withdrawal due to an Unforeseeable Emergency, a Participant’s deferral election for the remainder of the Plan Year:
				
		 		 	  x	  	Will
		 		 	   ̈	  	Will Not
			
		 		 	be cancelled. If cancellation occurs, the Participant may resume participation in accordance with Article 4 of the Plan.

  

 - 16 - 

							
	9.01	  	INVESTMENT DECISIONS
		
		  	Investment decisions regarding the hypothetical amounts credited to a Participant’s Account shall be made by [select one]:
				
		  	  (a)	  	x	  	The Participant or his Beneficiary
				
		  	  (b)	  	 ̈	  	The Employer

  

 - 17 - 

					
	10.01	  	GRANTOR TRUST
		
		  	The Employer [select one]:
			
		  	   ̈	  	Does
		  	  x	  	Does Not
		
		  	intend to establish a grantor trust in connection with the Plan.

  

 - 18 - 

							
	11.01	  	TERMINATION UPON CHANGE IN CONTROL
		
		  	The Plan Sponsor
			
		  	  x	  	Reserves
		  	   ̈	  	Does Not Reserve
		
		  	the right to terminate the Plan and distribute all vested amounts credited to Participant Accounts upon a Change in Control as described in Section 9.7.
		
	11.02	  	AUTOMATIC DISTRIBUTION UPON CHANGE IN CONTROL 
		
		  	Distribution of the remaining vested balance of each Participant’s Account
			
		  	   ̈	  	Shall
		  	  x	  	Shall Not
		
		  	automatically be paid as a lump sum payment upon the occurrence of a Change in Control as provided in Section 9.7.
		
	11.03	  	CHANGE IN CONTROL 
		
		  	A Change in Control for Plan purposes includes the following [select each definition that applies]:
				
		  	(a)	  	x	    	A change in the ownership of the Employer as described in Section 9.7(c) of the Plan.
				
		  	(b)	  	x	    	A change in the effective control of the Employer as described in Section 9.7(d) of the Plan.
				
		  	(c)	  	x	    	A change in the ownership of a substantial portion of the assets of the Employer as described in Section 9.7(e) of the Plan.
				
		  	(d)	  	 ̈	    	Not Applicable.

  

 - 19 - 

			
	12.01	  	GOVERNING STATE LAW
		
		  	The laws of California shall apply in the administration of the Plan to the extent not preempted by ERISA.

  

 - 20 - 

 The Plan Sponsor has caused this Adoption Agreement to be executed this 24th day of
September, 2009. 
  

					
		 	PLAN SPONSOR:	 	 Del Monte Foods Company

			
		 	By:	 	 /s/ Richard W. Muto

			
		 	Title:	 	 Senior Vice President and Chief Human Resources Officer

  

 - 21 - 

 DEL MONTE FOODS COMPANY 
 DEFERRED COMPENSATION PLAN 

 TABLE OF CONTENTS 
 PREAMBLE 

					
		
	 ARTICLE 1 – GENERAL
	  	
	 1.1
	  	Plan	  	1-1
	 1.2
	  	Effective Dates	  	1-1
	 1.3
	  	Amounts Not Subject to Code Section 409A	  	1-1
		
	 ARTICLE 2 – DEFINITIONS
	  	
	 2.1
	  	Account	  	2-1
	 2.2
	  	Administrator	  	2-1
	 2.3
	  	Adoption Agreement	  	2-1
	 2.4
	  	Beneficiary	  	2-1
	 2.5
	  	Board or Board of Directors	  	2-1
	 2.6
	  	Bonus	  	2-1
	 2.7
	  	Change in Control	  	2-1
	 2.8
	  	Code	  	2-1
	 2.9
	  	Compensation	  	2-1
	 2.10
	  	Director	  	2-1
	 2.11
	  	Disabled	  	2-2
	 2.12
	  	Eligible Employee	  	2-2
	 2.13
	  	Employer	  	2-2
	 2.14
	  	ERISA	  	2-2
	 2.15
	  	Identification Date	  	2-2
	 2.16
	  	Key Employee	  	2-2
	 2.17
	  	Participant	  	2-2
	 2.18
	  	Plan	  	2-2
	 2.19
	  	Plan Sponsor	  	2-2
	 2.20
	  	Plan Year	  	2-2
	 2.21
	  	Related Employer	  	2-2
	 2.22
	  	Retirement	  	2-3
	 2.23
	  	Separation from Service	  	2-3
	 2.24
	  	Unforeseeable Emergency	  	2-4
	 2.25
	  	Valuation Date	  	2-5
	 2.26
	  	Years of Service	  	2-5
		
	 ARTICLE 3 – PARTICIPATION 
	  	
	 3.1
	  	Participation	  	3-1
	 3.2
	  	Termination of Participation	  	3-1

  

 i 

					
	 ARTICLE 4 – PARTICIPANT ELECTIONS
	  	
	 4.1
	  	Deferral Agreement	  	4-1
	 4.2
	  	Amount of Deferral	  	4-1
	 4.3
	  	Timing of Election to Defer	  	4-1
	 4.4
	  	Election of Payment Schedule and Form of Payment	  	4-2
		
	 ARTICLE 5 – EMPLOYER CONTRIBUTIONS
	  	
	 5.1
	  	Matching Contributions	  	5-1
	 5.2
	  	Other Contributions	  	5-1
		
	 ARTICLE 6 – ACCOUNTS AND CREDITS
	  	
	 6.1
	  	Establishment of Account	  	6-1
	 6.2
	  	Credits to Account	  	6-1
		
	 ARTICLE 7 – INVESTMENT OF CONTRIBUTIONS
	  	
	 7.1
	  	Investment Options	  	7-1
	 7.2
	  	Adjustment of Accounts	  	7-1
		
	 ARTICLE 8 – RIGHT TO BENEFITS
	  	
	 8.1
	  	Vesting	  	8-1
	 8.2
	  	Death	  	8-1
	 8.3
	  	Disability	  	8-1
		
	 ARTICLE 9 – DISTRIBUTION OF BENEFITS
	  	
	 9.1
	  	Amount of Benefits	  	9-1
	 9.2
	  	Method and Timing of Distributions	  	9-1
	 9.3
	  	Unforeseeable Emergency	  	9-1
	 9.4
	  	Payment Election Overrides	  	9-2
	 9.5
	  	Cashouts of Amounts Not Exceeding Stated Limit	  	9-2
	 9.6
	  	Required Delay in Payment to Key Employees	  	9-2
	 9.7
	  	Change in Control	  	9-3
	 9.8
	  	Permissible Delays in Payment	  	9-7
	 9.9
	  	Permitted Acceleration of Payment	  	9-8

  

 ii 

					
	 ARTICLE 10 – AMENDMENT AND TERMINATION
	  	
	 10.1
	  	Amendment by Plan Sponsor	  	10-1
	 10.2
	  	Plan Termination Following Change in Control or Corporate Dissolution	  	10-1
	 10.3
	  	Other Plan Terminations	  	10-1
		
	 ARTICLE 11 – THE TRUST
	  	
	 11.1
	  	Establishment of Trust	  	11-1
	 11.2
	  	Grantor Trust	  	11-1
	 11.3
	  	Investment of Trust Funds	  	11-1
		
	 ARTICLE 12 – PLAN ADMINISTRATION
	  	
	 12.1
	  	Powers and Responsibilities of the Administrator	  	12-1
	 12.2
	  	Claims and Review Procedures	  	12-2
	 12.3
	  	Plan Administrative Costs	  	12-3
		
	 ARTICLE 13 – MISCELLANEOUS
	  	
	 13.1
	  	Unsecured General Creditor of the Employer	  	13-1
	 13.2
	  	Employer’s Liability	  	13-1
	 13.3
	  	Limitation of Rights	  	13-1
	 13.4
	  	Anti-Assignment	  	13-1
	 13.5
	  	Facility of Payment	  	13-1
	 13.6
	  	Notices	  	13-2
	 13.7
	  	Tax Withholding	  	13-2
	 13.8
	  	Indemnification	  	13-2
	 13.9
	  	Successors	  	13-3
	 13.10
	  	Disclaimer	  	13-3
	 13.11
	  	Governing Law	  	13-3

  

 iii 

 PREAMBLE 
 The Plan is intended to be a “plan which is unfunded and is maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly
compensated employees” within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974, as amended, or an “excess benefit plan” within the meaning of Section 3(36) of the
Employee Retirement Income Security Act of 1974, as amended, or a combination of both. The Plan is further intended to conform with the requirements of Internal Revenue Code Section 409A and the final regulations issued thereunder and shall be
interpreted, implemented and administered in a manner consistent therewith. 

 ARTICLE 1 – GENERAL 
  

	1.1	Plan. The Plan will be referred to by the name specified in the Adoption Agreement. 

  

	1.2	Effective Dates. 

  

	 	(a)	Original Effective Date. The Original Effective Date is the date as of which the Plan was initially adopted. 

  

	 	(b)	Amendment Effective Date. The Amendment Effective Date is the date specified in the Adoption Agreement as of which the Plan is amended and restated. Except to
the extent otherwise provided herein or in the Adoption Agreement, the Plan shall apply to amounts deferred and benefit payments made on or after the Amendment Effective Date. 

  

	 	(c)	Special Effective Date. A Special Effective Date may apply to any given provision if so specified in Appendix A of the Adoption Agreement. A Special Effective
Date will control over the Original Effective Date or Amendment Effective Date, whichever is applicable, with respect to such provision of the Plan. 

  

	1.3	Amounts Not Subject to Code Section 409A 

 Except as otherwise indicated by the Plan Sponsor in Section 1.01 of the Adoption Agreement, amounts deferred before January 1, 2005 that are earned and vested on December 31, 2004 will be
separately accounted for and administered in accordance with the terms of the Plan as in effect on December 31, 2004. 
  

 1-1 

 ARTICLE 2 – DEFINITIONS 
 Pronouns used in the Plan are in the masculine gender but include the feminine gender unless the context clearly indicates otherwise. Wherever used herein,
the following terms have the meanings set forth below, unless a different meaning is clearly required by the context: 
  

	2.1	“Account” means an account established for the purpose of recording amounts credited on behalf of a Participant and any income, expenses, gains, losses
or distributions included thereon. The Account shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant or to the Participant’s Beneficiary
pursuant to the Plan. 

  

	2.2	“Administrator” means the person or persons designated by the Plan Sponsor in Section 1.05 of the Adoption Agreement to be responsible for the
administration of the Plan. If no Administrator is designated in the Adoption Agreement, the Administrator is the Plan Sponsor. 

  

	2.3	“Adoption Agreement” means the agreement adopted by the Plan Sponsor that establishes the Plan. 

  

	2.4	“Beneficiary” means the persons, trusts, estates or other entities entitled under Section 8.2 to receive benefits under the Plan upon the death of
a Participant. 

  

	2.5	“Board” or “Board of Directors” means the Board of Directors of the Plan Sponsor. 

  

	2.6	“Bonus” means an amount of incentive remuneration payable by the Employer to a Participant. 

  

	2.7	“Change in Control” means the occurrence of an event involving the Plan Sponsor that is described in Section 9.7. 

  

	2.8	“Code” means the Internal Revenue Code of 1986, as amended. 

  

	2.9	“Compensation” has the meaning specified in Section 3.01 of the Adoption Agreement. 

  

	2.10	“Director” means a non-employee member of the Board who has been designated by the Employer as eligible to participate in the Plan.

  

 2-1 

	2.11	“Disabled” means a determination by the Administrator that the Participant is either (a) unable to engage in any substantial gainful activity by
reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (b) is, by reason of any medically determinable
physical or mental impairment which can be expected to result in death or last for a continuous period of not less than twelve months, receiving income replacement benefits for a period of not less than three months under an accident and health plan
covering employees of the Employer. A Participant will be considered Disabled if he is determined to be totally disabled by the Social Security Administration or the Railroad Retirement Board. 

  

	2.12	“Eligible Employee” means an employee of the Employer who satisfies the requirements in Section 2.01 of the Adoption Agreement.

  

	2.13	“Employer” means the Plan Sponsor and any other entity which is authorized by the Plan Sponsor to participate in and, in fact, does adopt the Plan.

  

	2.14	“ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

  

	2.15	“Identification Date” means the date as of which Key Employees are determined which is specified in Section 1.06 of the Adoption Agreement.

  

	2.16	“Key Employee” means an employee who satisfies the conditions set forth in Section 9.6. 

  

	2.17	“Participant” means an Eligible Employee or Director who commences participation in the Plan in accordance with Article 3. 

  

	2.18	“Plan” means the unfunded plan of deferred compensation set forth herein, including the Adoption Agreement and any trust agreement, as adopted by the
Plan Sponsor and as amended from time to time. 

  

	2.19	“Plan Sponsor” means the entity identified in Section 1.03 of the Adoption Agreement or any successor by merger, consolidation or otherwise.

  

	2.20	“Plan Year” means the period identified in Section 1.02 of the Adoption Agreement. 

  

	2.21	“Related Employer” means the Employer and (a) any corporation that is a member of a controlled group of corporations as defined in Code
Section 414(b) that includes the Employer and (b) any trade or business that is under common control as defined in Code Section 414(c) that includes the Employer. 

  

 2-2 

	2.22	“Retirement” has the meaning specified in 6.01(f) of the Adoption Agreement. 

  

	2.23	“Separation from Service” means the date that the Participant dies, retires or otherwise has a termination of employment with respect to all entities
comprising the Related Employer. A Separation from Service does not occur if the Participant is on military leave, sick leave or other bona fide leave of absence if the period of leave does not exceed six months or such longer period during which
the Participant’s right to re-employment is provided by statute or contract. If the period of leave exceeds six months and the Participant’s right to re-employment is not provided either by statute or contract, a Separation from Service
will be deemed to have occurred on the first day following the six-month period. If the period of leave is due to any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a
continuous period of not less than six months, where the impairment causes the Participant to be unable to perform the duties of his or her position of employment or any substantially similar position of employment, a 29 month period of absence may
be substituted for the six month period. 

 Whether a termination of employment has occurred is based on whether
the facts and circumstances indicate that the Related Employer and the Participant reasonably anticipated that no further services would be performed after a certain date or that the level of bona fide services the Participant would perform after
such date (whether as an employee or as an independent contractor) would permanently decrease to no more than 20 percent of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately
preceding 36 month period (or the full period of services to the Related Employer if the employee has been providing services to the Related Employer for less than 36 months). If a Participant continues to provide services to a Related Employer in a
capacity other than as an employee, the Participant will not be deemed to have a termination of employment if the Participant is providing services at an annual rate that is at least 50 percent of the services rendered by such individual, on
average, during the immediately preceding 36 month period of employment (or such lesser period of employment) and the annual remuneration for such services is at least 50 percent of the average annual remuneration earned during the such 36 calendar
months of employment (or such lesser period of employment). 
 An independent contractor is considered to have experienced a
Separation from Service with the Related Employer upon the expiration of the contract (or, in the case of more than one contract, all contracts) under which services are performed for the Related Employer if the expiration constitutes a good-faith
and complete termination of the contractual relationship. 
  

 2-3 

 If a Participant provides services as both an employee and an independent contractor of the
Related Employer, the Participant must separate from service both as an employee and as an independent contractor to be treated as having incurred a Separation from Service. If a Participant ceases providing services as an independent contractor and
begins providing services as an employee, or ceases providing services as an employee and begins providing services as an independent contractor, the Participant will not be considered to have experienced a Separation from Service until the
Participant has ceased providing services in both capacities. 
 If a Participant provides services both as an employee and as a
member of the board of directors of a corporate Related Employer (or an analogous position with respect to a noncorporate Related Employer), the services provided as a director are not taken into account in determining whether the Participant has
incurred a Separation from Service as an employee for purposes of a nonqualified deferred compensation plan in which the Participant participates as an employee that is not aggregated under Code Section 409A with any plan in which the
Participant participates as a director. 
 If a Participant provides services both as an employee and as a member of the board of
directors of a corporate related Employer (or an analogous position with respect to a noncorporate Related Employer), the services provided as an employee are not taken into account in determining whether the Participant has experienced a Separation
from Service as a director for purposes of a nonqualified deferred compensation plan in which the Participant participates as a director that is not aggregated under Code Section 409A with any plan in which the Participant participates as an
employee. 
 All determinations of whether a Separation from Service has occurred will be made in a manner consistent with Code
Section 409A and the final regulations thereunder. 
  

	2.24	“Unforeseeable Emergency” means a severe financial hardship of the Participant resulting from an illness or accident of the Participant, the
Participant’s spouse, the Participant’s Beneficiary, or the Participant’s dependent (as defined in Code Section 152, without regard to Code section 152(b)(i), (b)(2) and (d)(i)(B); loss of the Participant’s property due to
casualty; or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. 

  

 2-4 

	2.25	“Valuation Date” means each business day of the Plan Year. 

  

	2.26	“Years of Service” means each one year period for which the Participant receives service credit in accordance with the provisions of
Section 7.01(d) of the Adoption Agreement. 

  

 2-5 

 ARTICLE 3 – PARTICIPATION 
  

	3.1	Participation. The Participants in the Plan shall be those Directors and employees of the Employer who satisfy the requirements of Section 2.01 of the
Adoption Agreement. 

  

	3.2	Termination of Participation. The Administrator may terminate a Participant’s participation in the Plan in a manner consistent with Code Section 409A.
If the Employer terminates a Participant’s participation before the Participant experiences a Separation from Service the Participant’s vested Accounts shall be paid in accordance with the provisions of Article 9. 

 

 3-1 

 ARTICLE 4 – PARTICIPANT ELECTIONS 
  

	4.1	Deferral Agreement. If permitted by the Plan Sponsor in accordance with Section 4.01 of the Adoption Agreement, each Eligible Employee and Director may
elect to defer his Compensation within the meaning of Section 3.01 of the Adoption Agreement by executing in writing or electronically, a deferral agreement in accordance with rules and procedures established by the Administrator and the
provisions of this Article 4. 

 A new deferral agreement must be timely executed for each Plan Year during which
the Eligible Employee or Director desires to defer Compensation. An Eligible Employee or Director who does not timely execute a deferral agreement shall be deemed to have elected zero deferrals of Compensation for such Plan Year. 
 A deferral agreement may be changed or revoked during the period specified by the Administrator. Except as provided in Section 9.3 or in
Section 4.01(c) of the Adoption Agreement, a deferral agreement becomes irrevocable at the close of the specified period. 
  

	4.2	Amount of Deferral. An Eligible Employee or Director may elect to defer Compensation in any amount permitted by Section 4.01(a) of the Adoption Agreement.

  

	4.3	Timing of Election to Defer. Each Eligible Employee or Director who desires to defer Compensation otherwise payable during a Plan Year must execute a deferral
agreement within the period preceding the Plan Year specified by the Administrator. Each Eligible Employee who desires to defer Compensation that is a Bonus must execute a deferral agreement within the period preceding the Plan Year during which the
Bonus is earned that is specified by the Administrator, except that if the Bonus can be treated as performance based compensation as described in Code Section 409A(a)(4)(B)(iii), the deferral agreement may be executed within the period
specified by the Administrator, which period, in no event, shall end after the date which is six months prior to the end of the period during which the Bonus is earned, provided the Participant has performed services continuously from the later of
the beginning of the performance period or the date the performance criteria are established through the date the Participant executed the deferral agreement and provided further that the compensation has not yet become ‘readily
ascertainable’ with the meaning of Reg. Sec 1.409A-2(a)(8). In addition, if the Compensation qualifies as ‘fiscal year compensation’ within the meaning of Reg. Sec. 1.409A -2(a)(6), the deferral agreement may be made not later than
the end of the Employer’s taxable year immediately preceding the first taxable year of the Employer in which any services are performed for which such Compensation is payable. 

  

 4-1 

 Except as otherwise provided below, an employee who is classified or designated as an
Eligible Employee during a Plan Year or a Director who is designated as eligible to participate during a Plan Year may elect to defer Compensation otherwise payable during the remainder of such Plan Year in accordance with the rules of this
Section 4.3 by executing a deferral agreement within the thirty (30) day period beginning on the date the employee is classified or designated as an Eligible Employee or the date the Director is designated as eligible, whichever is
applicable, if permitted by Section 4.01(b)(ii) of the Adoption Agreement. If Compensation is based on a specified performance period that begins before the Eligible Employee or Director executes his deferral agreement, the election will be
deemed to apply to the portion of such Compensation equal to the total amount of Compensation for the performance period multiplied by the ratio of the number of days remaining in the performance period after the election becomes irrevocable and
effective over the total number of days in the performance period. The rules of this paragraph shall not apply unless the Eligible Employee or Director can be treated as initially eligible in accordance with Reg. Sec. 1.409A-2(a)(7). 
  

	4.4	Election of Payment Schedule and Form of Payment. 

 All elections of a payment schedule and a form of payment will be made in accordance with rules and procedures established by the Administrator and the provisions of this Section 4.4. 
 (a) If the Plan Sponsor has elected to permit annual distribution elections in accordance with Section 6.01(h) of the Adoption Agreement
the following rules apply. At the time an Eligible Employee or Director completes a deferral agreement, the Eligible Employee or Director must elect a distribution event (which includes a specified time) and a form of payment for the Compensation
subject to the deferral agreement from among the options the Plan Sponsor has made available for this purpose and which are specified in 6.01(b) of the Adoption Agreement. Prior to the time required by Reg. Sec. 1.409A-2, the Eligible Employee or
Director shall elect a distribution event (which includes a specified time) and a form of payment for any Employer contributions that may be credited to the Participant’s Account during the Plan Year. If an Eligible Employee or Director fails
to elect a distribution event, he shall be deemed to have elected Separation from Service as the distribution event. If he fails to elect a form of payment, he shall be deemed to have elected a lump sum form of payment. 
  

 4-2 

 (b) If the Plan Sponsor has elected not to permit annual distribution elections in
accordance with Section 6.01(h) of the Adoption Agreement the following rules apply. At the time an Eligible Employee or Director first completes a deferral agreement but in no event later than the time required by Reg. Sec. 1.409A-2, the
Eligible Employee or Director must elect a distribution event (which includes a specified time) and a form of payment for amounts credited to his Account from among the options the Plan Sponsor has made available for this purpose and which are
specified in Section 6.01(b) of the Adoption Agreement. If an Eligible Employee or Director fails to elect a distribution event, he shall be deemed to have elected Separation from Service in the distribution event. If the fails to elect a form
of payment, he shall be deemed to have elected a lump sum form of payment. 
  

 4-3 

 ARTICLE 5 – EMPLOYER CONTRIBUTIONS 
  

	5.1	Matching Contributions. If elected by the Plan Sponsor in Section 5.01(a) of the Adoption Agreement, the Employer will credit the Participant’s Account with a
matching contribution determined in accordance with the formula specified in Section 5.01(a) of the Adoption Agreement. The matching contribution will be treated as allocated to the Participant’s Account at the time specified in
Section 5.01(a)(iii) of the Adoption Agreement. 

  

	5.2	Other Contributions. If elected by the Plan Sponsor in Section 5.01(b) of the Adoption Agreement, the Employer will credit the Participant’s Account with a
contribution determined in accordance with the formula or method specified in Section 5.01(b) of the Adoption Agreement. The contribution will be treated as allocated to the Participant’s Account at the time specified in
Section 5.01(b)(iii) of the Adoption Agreement. 

  

 5-1 

 ARTICLE 6 – ACCOUNTS AND CREDITS 
  

	6.1	Establishment of Account. For accounting and computational purposes only, the Administrator will establish and maintain an Account on behalf of each Participant
which will reflect the credits made pursuant to Section 6.2, distributions or withdrawals, along with the earnings, expenses, gains and losses allocated thereto, attributable to the hypothetical investments made with the amounts in the Account
as provided in Article 7. The Administrator will establish and maintain such other records and accounts, as it decides in its discretion to be reasonably required or appropriate to discharge its duties under the Plan. 

  

	6.2	Credits to Account. A Participant’s Account will be credited for each Plan Year with the amount of his elective deferrals under Section 4.1 at the time
the amount subject to the deferral election would otherwise have been payable to the Participant and the amount of Employer contributions treated as allocated on his behalf under Article 5. 

  

 6-1 

 ARTICLE 7 – INVESTMENT OF CONTRIBUTIONS 
  

	7.1	Investment Options. The amount credited to each Account shall be treated as invested in the investment options designated for this purpose by the Administrator.

  

	7.2	Adjustment of Accounts. The amount credited to each Account shall be adjusted for hypothetical investment earnings, expenses, gains or losses in an amount equal
to the earnings, expenses, gains or losses attributable to the investment options selected by the party designated in Section 9.01 of the Adoption Agreement from among the investment options provided in Section 7.1. If permitted by
Section 9.01 of the Adoption Agreement, a Participant (or the Participant’s Beneficiary after the death of the Participant) may, in accordance with rules and procedures established by the Administrator, select the investments from among
the options provided in Section 7.1 to be used for the purpose of calculating future hypothetical investment adjustments to the Account or to future credits to the Account under Section 6.2 effective as of the Valuation Date coincident
with or next following notice to the Administrator. Each Account shall be adjusted as of each Valuation Date to reflect: (a) the hypothetical earnings, expenses, gains and losses described above; (b) amounts credited pursuant to
Section 6.2; and (c) distributions or withdrawals. In addition, each Account may be adjusted for its allocable share of the hypothetical costs and expenses associated with the maintenance of the hypothetical investments provided in
Section 7.1. 

  

 7-1 

 ARTICLE 8 – RIGHT TO BENEFITS 
  

	8.1	Vesting. A Participant, at all times, has the 100% nonforfeitable interest in the amounts credited to his Account attributable to his elective deferrals made in
accordance with Section 4.1. 

 A Participant’s right to the amounts credited to his Account attributable
to Employer contributions made in accordance with Article 5 shall be determined in accordance with the relevant schedule and provisions in Section 7.01 of the Adoption Agreement. Upon a Separation from Service and after application of the
provisions of Section 7.01 of the Adoption Agreement, the Participant shall forfeit the nonvested portion of his Account. 
  

	8.2	Death. The Plan Sponsor may elect to accelerate vesting upon the death of the Participant in accordance with Section 7.01(c) of the Adoption Agreement
and/or to accelerate distributions upon Death in accordance with Section 6.01(b) or Section 6.01(d) of the Adoption Agreement. If the Plan Sponsor does not elect to accelerate distributions upon death in accordance with
Section 6.01(b) or Section 6.01(d) of the Adoption Agreement, the vested amount credited to the Participant’s Account will be paid in accordance with the provisions of Article 9. 

 A Participant may designate a Beneficiary or Beneficiaries, or change any prior designation of Beneficiary or Beneficiaries in accordance
with rules and procedures established by the Administrator. 
 A copy of the death notice or other sufficient documentation must
be filed with and approved by the Administrator. If upon the death of the Participant there is, in the opinion of the Administrator, no designated Beneficiary for part or all of the Participant’s vested Account, such amount will be paid to his
estate (such estate shall be deemed to be the Beneficiary for purposes of the Plan) in accordance with the provisions of Article 9. 
  

	8.3	Disability. If the Plan Sponsor has elected to accelerate vesting upon the occurrence of a Disability in accordance with Section 7.01(c) of the Adoption
Agreement and/or to permit distributions upon Disability in accordance with Section 6.01(b) or Section 6.01(d) of the Adoption Agreement, the determination of whether a Participant has incurred a Disability shall be made by the
Administrator in its sole discretion in a manner consistent with the requirements of Code Section 409A. 

  

 8-1 

 ARTICLE 9 – DISTRIBUTION OF BENEFITS 
  

	9.1	Amount of Benefits. The vested amount credited to a Participant’s Account as determined under Articles 6, 7 and 8 shall determine and constitute the basis
for the value of benefits payable to the Participant under the Plan. 

  

	9.2	Method and Timing of Distributions. Except as otherwise provided in this Article 9, distributions under the Plan shall be made in accordance with the elections
made or deemed made by the Participant under Article 4. Subject to the provisions of Section 9.6 requiring a six month delay for certain distributions to Key Employees, distributions following a payment event shall commence at the time
specified in Section 6.01(a) of the Adoption Agreement. If permitted by Section 6.01(g) of the Adoption Agreement, a Participant may elect, at least twelve months before a scheduled distribution event, to delay the payment date for a
minimum period of sixty months from the originally scheduled date of payment. The distribution election change must be made in accordance with procedures and rules established by the Administrator. The Participant may, at the same time the date of
payment is deferred, change the form of payment but such change in the form of payment may not effect an acceleration of payment in violation of Code Section 409A or the provisions of Reg. Sec. 1.409A-2(b). For purposes of this
Section 9.2, a series of installment payments is always treated as a single payment and not as a series of separate payments. 

  

	9.3	 Unforeseeable Emergency. A Participant may request a distribution due to an Unforeseeable Emergency if the Plan Sponsor has elected to permit
Unforeseeable Emergency withdrawals under Section 8.01(a) of the Adoption Agreement. The request must be in writing and must be submitted to the Administrator along with evidence that the circumstances constitute an Unforeseeable Emergency. The
Administrator has the discretion to require whatever evidence it deems necessary to determine whether a distribution is warranted, and may require the Participant to certify that the need cannot be met from other sources reasonably available to the
Participant. Whether a Participant has incurred an Unforeseeable Emergency will be determined by the Administrator on the basis of the relevant facts and circumstances in its sole discretion, but, in no event, will an Unforeseeable Emergency be
deemed to exist if the hardship can be relieved: (a) through reimbursement or compensation by insurance or otherwise, (b) by liquidation of the Participant’s assets to the extent such liquidation would not itself cause severe
financial hardship, or

  

 9-1 

	 	 
(c) by cessation of deferrals under the Plan. A distribution due to an Unforeseeable Emergency must be limited to the amount reasonably necessary to satisfy the emergency need and may include any
amounts necessary to pay any federal, state, foreign or local income taxes and penalties reasonably anticipated to result from the distribution. The distribution will be made in the form of a single lump sum cash payment. If permitted by
Section 8.01(b) of the Adoption Agreement, a Participant’s deferral elections for the remainder of the Plan Year will be cancelled upon a withdrawal due to an Unforeseeable Emergency. If the payment of all or any portion of the
Participant’s vested Account is being delayed in accordance with Section 9.6 at the time he experiences an Unforeseeable Emergency, the amount being delayed shall not be subject to the provisions of this Section 9.3 until the
expiration of the six month period of delay required by section 9.6. 

  

	9.4	Payment Election Overrides. If the Plan Sponsor has elected one or more payment election overrides in accordance with Section 6.01(d) of the Adoption
Agreement, the following provisions apply. Upon the occurrence of the first event selected by the Plan Sponsor, the remaining vested amount credited to the Participant’s Account shall be paid in the form designated to the Participant or his
Beneficiary regardless of whether the Participant had made different elections of time and/or form of payment or whether the Participant was receiving installment payments at the time of the event. 

  

	9.5	Cashouts Of Amounts Not Exceeding Stated Limit. If the vested amount credited to the Participant’s Account does not exceed the limit established for this
purpose by the Plan Sponsor in Section 6.01(e) of the Adoption Agreement at the time he separates from service with the Related Employer for any reason, the Employer shall distribute such amount to the Participant at the time specified in
Section 6.01(a) of the Adoption Agreement in a single lump sum cash payment following such termination regardless of whether the Participant had made different elections of time or form of payment as to the vested amount credited to his Account
or whether the Participant was receiving installments at the time of such termination. A Participant’s Account, for purposes of this Section 9.5, shall include any amounts described in Section 1.3. 

  

	9.6	Required Delay in Payment to Key Employees. Except as otherwise provided in this Section 9.6, a distribution made on account of Separation from Service (or
Retirement, if applicable) to a Participant who is a Key Employee as of the date of his Separation from Service (or Retirement, if applicable) shall not be made before the date which is six months after the Separation from Service (or Retirement, if
applicable). 

  

 9-2 

 (a) A Participant is treated as a Key Employee if (i) he is employed by a Related
Employer any of whose stock is publicly traded on an established securities market, and (ii) he satisfies the requirements of Code Section 416(i)(1)(A)(i), (ii) or (iii), determined without regard to Code Section 416(i)(5), at
any time during the twelve month period ending on the Identification Date. 
 (b) A Participant who is a Key Employee on an
Identification Date shall be treated as a Key Employee for purposes of the six month delay in distributions for the twelve month period beginning on the first day of a month no later than the fourth month following the Identification Date. The
Identification Date and the effective date of the delay in distributions shall be determined in accordance with Section 1.06 of the Adoption Agreement. 
 (c) The Plan Sponsor may elect to apply an alternative method to identify Participants who will be treated as Key Employees for purposes of the six month delay in distributions if the method satisfies
each of the following requirements. The alternative method is reasonably designed to include all Key Employees, is an objectively determinable standard providing no direct or indirect election to any Participant regarding its application, and
results in either all Key Employees or no more than 200 Key Employees being identified in the class as of any date. Use of an alternative method that satisfies the requirements of this Section 9.6(c) will not be treated as a change in the time
and form of payment for purposes of Reg. Sec. 1.409A-2(b). 
 (d) The six month delay does not apply to payments described in
Section 9.9(a),(b) or (d) or to payments that occur after the death of the Participant. If the payment of all or any portion of the Participant’s vested Account is being delayed in accordance with this Section 9.6 at the time he
incurs a Disability which would otherwise require a distribution under the terms of the Plan, no amount shall be paid until the expiration of the six month period of delay required by this Section 9.6. 
  

	9.7	 Change in Control. If the Plan Sponsor has elected to permit distributions upon a Change in Control, the following provisions shall apply. A
distribution made upon a Change in Control will be made at the time specified in Section 6.01(a) of the Adoption Agreement in the form elected by the Participant in accordance with the procedures described in Article 4. Alternatively, if the
Plan Sponsor has elected in accordance with Section 11.02 of the Adoption Agreement to require distributions upon a Change in Control, the Participant’s remaining vested Account shall be paid to the Participant or the Participant’s
Beneficiary at the time specified in Section 6.01(a) of the Adoption Agreement as a single lump sum

  

 9-3 

	 	 
payment. A Change in Control, for purposes of the Plan, will occur upon a change in the ownership of the Plan Sponsor, a change in the effective control of the Plan Sponsor or a change in the
ownership of a substantial portion of the assets of the Plan Sponsor, but only if elected by the Plan Sponsor in Section 11.03 of the Adoption Agreement. The Plan Sponsor, for this purpose, includes any corporation identified in this
Section 9.7. All distributions made in accordance with this Section 9.7 are subject to the provisions of Section 9.6. 

 If a Participant continues to make deferrals in accordance with Article 4 after he has received a distribution due to a Change in Control, the residual amount payable to the Participant shall be paid at
the time and in the form specified in the elections he makes in accordance with Article 4 or upon his death or Disability as provided in Article 8. 
 Whether a Change in Control has occurred will be determined by the Administrator in accordance with the rules and definitions set forth in this Section 9.7. A distribution to the Participant will be
treated as occurring upon a Change in Control if the Plan Sponsor terminates the Plan in accordance with Section 10.2 and distributes the Participant’s benefits within twelve months of a Change in Control as provided in Section 10.3.

  

	 	(a)	Relevant Corporations. To constitute a Change in Control for purposes of the Plan, the event must relate to (i) the corporation for whom the Participant is
performing services at the time of the Change in Control, (ii) the corporation that is liable for the payment of the Participant’s benefits under the Plan (or all corporations liable if more than one corporation is liable) but only if
either the deferred compensation is attributable to the performance of services by the Participant for such corporation (or corporations) or there is a bona fide business purpose for such corporation (or corporations) to be liable for such payment
and, in either case, no significant purpose of making such corporation (or corporations) liable for such payment is the avoidance of federal income tax, or (iii) a corporation that is a majority shareholder of a corporation identified in
(i) or (ii), or any corporation in a chain of corporations in which each corporation is a majority shareholder of another corporation in the chain, ending in a corporation identified in (i) or (ii). A majority shareholder is defined as a
shareholder owning more than fifty percent (50%) of the total fair market value and voting power of such corporation. 

  

	 	(b)	 Stock Ownership. Code Section 318(a) applies for purposes of determining stock ownership. Stock underlying a vested option is considered
owned by the individual who owns the vested option (and the stock underlying an unvested option is not considered owned by the individual who holds the unvested option). If, however, a vested

  

 9-4 

	 	 
option is exercisable for stock that is not substantially vested (as defined by Treasury Regulation Section 1.83-3(b) and (j)) the stock underlying the option is not treated as owned by the
individual who holds the option. 

  

	 	(c)	Change in the Ownership of a Corporation. A change in the ownership of a corporation occurs on the date that any one person or more than one person acting as a
group, acquires ownership of stock of the corporation that, together with stock held by such person or group, constitutes more than fifty percent (50%) of the total fair market value or total voting power of the stock of such corporation. If
any one person or more than one person acting as a group is considered to own more than fifty percent (50%) of the total fair market value or total voting power of the stock of a corporation, the acquisition of additional stock by the same
person or persons is not considered to cause a change in the ownership of the corporation (or to cause a change in the effective control of the corporation as discussed below in Section 9.7(d)). An increase in the percentage of stock owned by
any one person, or persons acting as a group, as a result of a transaction in which the corporation acquires its stock in exchange for property will be treated as an acquisition of stock. Section 9.7(c) applies only when there is a transfer of
stock of a corporation (or issuance of stock of a corporation) and stock in such corporation remains outstanding after the transaction. For purposes of this Section 9.7(c), persons will not be considered to be acting as a group solely because
they purchase or own stock of the same corporation at the same time or as a result of a public offering. Persons will, however, be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation,
purchase or acquisition of stock, or similar business transaction with the corporation. If a person, including an entity, owns stock in both corporations that enter into a merger, consolidation, purchase or acquisition of stock, or similar
transaction, such shareholder is considered to be acting as a group with other shareholders in a corporation prior to the transaction giving rise to the change and not with respect to the ownership interest in the other corporation.

  

	 	(d)	 Change in the effective control of a corporation. A change in the effective control of a corporation occurs on the date that either (i) any
one person, or more than one person acting as a group, acquires (or has acquired during the twelve month period ending on the date of the most recent acquisition by such person or persons) ownership of stock of the corporation possessing thirty
percent (30%) or more of the total voting power of the stock of such corporation, or (ii) a majority of members of the corporation’s board of directors is replaced during any twelve month period by directors whose

  

 9-5 

	 	 
appointment or election is not endorsed by a majority of the members of the corporation’s board of directors prior to the date of the appointment or election, provided that for purposes of
this paragraph (ii), the term corporation refers solely to the relevant corporation identified in Section 9.7(a) for which no other corporation is a majority shareholder for purposes of Section 9.7(a). In the absence of an event described
in Section 9.7(d)(i) or (ii), a change in the effective control of a corporation will not have occurred. A change in effective control may also occur in any transaction in which either of the two corporations involved in the transaction has a
change in the ownership of such corporation as described in Section 9.7(c) or a change in the ownership of a substantial portion of the assets of such corporation as described in Section 9.7(e). If any one person, or more than one person
acting as a group, is considered to effectively control a corporation within the meaning of this Section 9.7(d), the acquisition of additional control of the corporation by the same person or persons is not considered to cause a change in the
effective control of the corporation or to cause a change in the ownership of the corporation within the meaning of Section 9.7(c). For purposes of this Section 9.7(d), persons will or will not be considered to be acting as a group in
accordance with rules similar to those set forth in Section 9.7(c) with the following exception. If a person, including an entity, owns stock in both corporations that enter into a merger, consolidation, purchase or acquisition of stock, or
similar transaction, such shareholder is considered to be acting as a group with other shareholders in a corporation only with respect to the ownership in that corporation prior to the transaction giving rise to the change and not with respect to
the ownership interest in the other corporation. 

  

	 	(e)	 Change in the ownership of a substantial portion of a corporation’s assets. A change in the ownership of a substantial portion of a
corporation’s assets occurs on the date that any one person, or more than one person acting as a group (as determined in accordance with rules similar to those set forth in Section 9.7(d)), acquires (or has acquired during the twelve month
period ending on the date of the most recent acquisition by such person or persons) assets from the corporation that have a total gross fair market value equal to or more than forty percent (40%) of the total gross fair market value of all of
the assets of the corporation immediately prior to such acquisition or acquisitions. For this purpose, gross fair market value means the value of the assets of the corporation or the value of the assets being disposed of determined without regard to
any liabilities associated with such assets. There is no Change in Control event under this Section 9.7(e) when there is a transfer to an entity that is controlled by the shareholders of the transferring corporation immediately after the
transfer. A transfer of assets by a

  

 9-6 

	 	 
corporation is not treated as a change in ownership of such assets if the assets are transferred to (i) a shareholder of the corporation (immediately before the asset transfer) in exchange
for or with respect to its stock, (ii) an entity, fifty percent (50%) or more of the total value or voting power of which is owned, directly or indirectly, by the corporation, (iii) a person, or more than one person acting as a group,
that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock of the corporation, or (iv) an entity, at least fifty (50%) of the total value or voting power of which is
owned, directly or indirectly, by a person described in Section 9.7(e)(iii). For purposes of the foregoing, and except as otherwise provided, a person’s status is determined immediately after the transfer of assets.

  

	9.8	Permissible Delays in Payment. Distributions may be delayed beyond the date payment would otherwise occur in accordance with the provisions of Articles 8 and 9
in any of the following circumstances as long as the Employer treats all payments to similarly situated Participants on a reasonably consistent basis. 

  

	 	(a)	The Employer may delay payment if it reasonably anticipates that its deduction with respect to such payment would be limited or eliminated by the application of Code
Section 162(m). Payment must be made during the Participant’s first taxable year in which the Employer reasonably anticipates, or should reasonably anticipate, that if the payment is made during such year the deduction of such payment will
not be barred by the application of Code Section 162(m) or during the period beginning with the Participant’s Separation from Service and ending on the later of the last day of the Employer’s taxable year in which the Participant
separates from service or the 15th day of the third month following the Participant’s Separation from Service. If a scheduled payment to a Participant is delayed in accordance with this Section 9.8(a), all scheduled payments to the
Participant that could be delayed in accordance with this Section 9.8(a) will also be delayed. 

  

	 	(b)	The Employer may also delay payment if it reasonably anticipates that the making of the payment will violate federal securities laws or other applicable laws provided
payment is made at the earliest date on which the Employer reasonably anticipates that the making of the payment will not cause such violation. 

  

	 	(c)	The Employer reserves the right to amend the Plan to provide for a delay in payment upon such other events and conditions as the Secretary of the Treasury may prescribe
in generally applicable guidance published in the Internal Revenue Bulletin. 

  

 9-7 

	9.9	Permitted Acceleration of Payment. The Employer may permit acceleration of the time or schedule of any payment or amount scheduled to be paid pursuant to
a payment under the Plan provided such acceleration would be permitted by the provisions of Reg. Sec. 1.409A-3(j)(4), including the following events: 

  

	 	(a)	Domestic Relations Order. A payment may be accelerated if such payment is made to an alternate payee pursuant to and following the receipt and qualification of a domestic
relations order as defined in Code Section 414(p). 

  

	 	(b)	Compliance with Ethics Agreements and Legal Requirements. A payment may be accelerated as may be necessary to comply with ethics agreements with the Federal government or as
may be reasonably necessary to avoid the violation of Federal, state, local or foreign ethics law or conflicts of laws, in accordance with the requirements of Code Section 409A. 

  

	 	(c)	De Minimis Amounts. A payment will be accelerated if (i) the amount of the payment is not greater than the applicable dollar amount under Code Section 402(g)(1)(B),
(ii) at the time the payment is made the amount constitutes the Participant’s entire interest under the Plan and all other plans that are aggregated with the Plan under
 Reg. Sec. 1.409A-1(c)(2). 

  

	 	(d)	FICA Tax. A payment may be accelerated to the extent required to pay the Federal Insurance Contributions Act tax imposed under Code Sections 3101, 3121(a) and 3121(v)(2) of
the Code with respect to compensation deferred under the Plan (the “FICA Amount”). Additionally, a payment may be accelerated to pay the income tax on wages imposed under Code Section 3401 of the Code on the FICA Amount and to pay the
additional income tax at source on wages attributable to the pyramiding Code Section 3401 wages and taxes. The total payment under this subsection (d) may not exceed the aggregate of the FICA Amount and the income tax withholding related
to the FICA Amount. 

  

	 	(e)	Section 409A Additional Tax. A payment may be accelerated if the Plan fails to meet the requirements of Code Section 409A; provided that such payment may not exceed
the amount required to be included in income as a result of the failure to comply with the requirements of Code Section 409A. 

  

 9-8 

	 	(f)	Offset. A payment may be accelerated in the Employer’s discretion as satisfaction of a debt of the Participant to the Employer, where such debt is incurred
in the ordinary course of the service relationship between the Participant and the Employer, the entire amount of the reduction in any of the Employer’s taxable years does not exceed $5,000, and the reduction is made at the same time and in the
same amount as the debt otherwise would have been due and collected from the Participant. 

  

	 	(g)	Other Events. A payment may be accelerated in the Administrator’s discretion in connection with such other events and conditions as permitted by Code
Section 409A. 

  

 9-9 

 ARTICLE 10 – AMENDMENT AND TERMINATION 
  

	10.1	Amendment by Plan Sponsor. The Plan Sponsor reserves the right to amend the Plan (for itself and each Employer) through action of its Board of Directors. No
amendment can directly or indirectly deprive any current or former Participant or Beneficiary of all or any portion of his Account which had accrued and vested prior to the amendment. 

  

	10.2	Plan Termination Following Change in Control or Corporate Dissolution. If so elected by the Plan Sponsor in 11.01 of the Adoption Agreement, the Plan Sponsor
reserves the right to terminate the Plan and distribute all amounts credited to all Participant Accounts within the 30 days preceding or the twelve months following a Change in Control as determined in accordance with the rules set forth in
Section 9.7. For this purpose, the Plan will be treated as terminated only if all agreements, methods, programs and other arrangements sponsored by the Related Employer immediately after the Change in Control which are treated as a single plan
under Reg. Sec. 1.409A-1(c)(2) are also terminated so that all participants under the Plan and all similar arrangements are required to receive all amounts deferred under the terminated arrangements within twelve months of the date the Plan Sponsor
irrevocably takes all necessary action to terminate the arrangements. In addition, the Plan Sponsor reserves the right to terminate the Plan within twelve months of a corporate dissolution taxed under Code Section 331 or with the approval of a
bankruptcy court pursuant to 11 U. S. C. Section 503(b)(1)(A) provided that amounts deferred under the Plan are included in the gross incomes of Participants in the latest of (a) the calendar year in which the termination occurs,
(b) the first calendar year in which the amount is no longer subject to a substantial risk of forfeiture, or (c) the first calendar year in which payment is administratively practicable. 

  

	10.3	 Other Plan Terminations. The Plan Sponsor retains the discretion to terminate the Plan if (a) all arrangements sponsored by the Plan
Sponsor that would be aggregated with any terminated arrangement under Code Section 409A and Reg. Sec. 1.409A-1(c)(2) are terminated, (b) no payments other than payments that would be payable under the terms of the arrangements if the
termination had not occurred are made within twelve months of the termination of the arrangements, (c) all payments are made within twenty-four months of the termination of the arrangements, (d) the Plan Sponsor does not adopt a new
arrangement that would be aggregated with any terminated arrangement under Code Section 409A and the regulations thereunder at any time within the three year period following the date of termination of the arrangement, and (e) the
termination does not occur proximate to a downturn in the financial health of the Plan sponsor. The Plan Sponsor also reserves the right to amend

  

 10-1 

	 	 
the Plan to provide that termination of the Plan will occur under such conditions and events as may be prescribed by the Secretary of the Treasury in generally applicable guidance published in
the Internal Revenue Bulletin. 

  

 10-2 

 ARTICLE 11 – THE TRUST 
  

	11.1	Establishment of Trust. The Plan Sponsor may but is not required to establish a trust to hold amounts which the Plan Sponsor may contribute from time to time to
correspond to some or all amounts credited to Participants under Section 6.2. If the Plan Sponsor elects to establish a trust in accordance with Section 10.01 of the Adoption Agreement, the provisions of Sections 11.2 and 11.3 shall become
operative. 

  

	11.2	Grantor Trust. Any trust established by the Plan Sponsor shall be between the Plan Sponsor and a trustee pursuant to a separate written agreement under which
assets are held, administered and managed, subject to the claims of the Plan Sponsor’s creditors in the event of the Plan Sponsor’s insolvency. The trust is intended to be treated as a grantor trust under the Code, and the establishment of
the trust shall not cause the Participant to realize current income on amounts contributed thereto. The Plan Sponsor must notify the trustee in the event of a bankruptcy or insolvency. 

  

	11.3	Investment of Trust Funds. Any amounts contributed to the trust by the Plan Sponsor shall be invested by the trustee in accordance with the provisions of the
trust and the instructions of the Administrator. Trust investments need not reflect the hypothetical investments selected by Participants under Section 7.1 for the purpose of adjusting Accounts and the earnings or investment results of the
trust need not affect the hypothetical investment adjustments to Participant Accounts under the Plan. 

  

 11-1 

 ARTICLE 12 – PLAN ADMINISTRATION 
  

	12.1	Powers and Responsibilities of the Administrator. The Administrator has the full power and the full responsibility to administer the Plan in all of its details,
subject, however, to the applicable requirements of ERISA. The Administrator’s powers and responsibilities include, but are not limited to, the following: 

  

	 	(a)	To make and enforce such rules and procedures as it deems necessary or proper for the efficient administration of the Plan; 

  

	 	(b)	To interpret the Plan, its interpretation thereof to be final, except as provided in Section 12.2, on all persons claiming benefits under the Plan;

  

	 	(c)	To decide all questions concerning the Plan and the eligibility of any person to participate in the Plan; 

  

	 	(d)	To administer the claims and review procedures specified in Section 12.2; 

  

	 	(e)	To compute the amount of benefits which will be payable to any Participant, former Participant or Beneficiary in accordance with the provisions of the Plan;

  

	 	(f)	To determine the person or persons to whom such benefits will be paid; 

  

	 	(g)	To authorize the payment of benefits; 

  

	 	(h)	To comply with the reporting and disclosure requirements of Part 1 of Subtitle B of Title I of ERISA; 

  

	 	(i)	To appoint such agents, counsel, accountants, and consultants as may be required to assist in administering the Plan; 

  

	 	(j)	By written instrument, to allocate and delegate its responsibilities, including the formation of an Administrative Committee to administer the Plan.

  

 12-1 

	12.2	Claims and Review Procedures. 

  

	 	(a)	Claims Procedure. 

 If any
person believes he is being denied any rights or benefits under the Plan, such person may file a claim in writing with the Administrator. If any such claim is wholly or partially denied, the Administrator will notify such person of its decision in
writing. Such notification will contain (i) specific reasons for the denial, (ii) specific reference to pertinent Plan provisions, (iii) a description of any additional material or information necessary for such person to perfect such
claim and an explanation of why such material or information is necessary, and (iv) a description of the Plan’s review procedures and the time limits applicable to such procedures, including a statement of the person’s right to bring
a civil action following an adverse decision on review. Such notification will be given within 90 days (45 days in the case of a claim regarding Disability) after the claim is received by the Administrator. The Administrator may extend the period
for providing the notification by 90 days (30 days in the case of a claim regarding Disability) if special circumstances require an extension of time for processing the claim and if written notice of such extension and circumstance is given to such
person within the initial 90 day period (45 day period in the case of a claim regarding Disability). If such notification is not given within such period, the claim will be considered denied as of the last day of such period and such person may
request a review of his claim. 
  

	 	(b)	Review Procedure. 

 Within 60
days (180 days in the case of a claim regarding Disability) after the date on which a person receives a written notification of denial of claim (or, if written notification is not provided, within 60 days (180 days in the case of a claim regarding
Disability) of the date denial is considered to have occurred), such person (or his duly authorized representative) may (i) file a written request with the Administrator for a review of his denied claim and of pertinent documents and
(ii) submit written issues and comments to the Administrator. The Administrator will notify such person of its decision in writing. Such notification will be written in a manner calculated to be understood by such person and will contain
specific reasons for the decision as well as specific references to pertinent Plan provisions. The notification will explain that the person is entitled to receive, upon request and free of charge,

  

 12-2 

 
reasonable access to and copies of all pertinent documents and has the right to bring a civil action following an adverse decision on review. The decision on review will be made within 60 days
(45 days in the case of a claim regarding Disability). The Administrator may extend the period for making the decision on review by 60 days (45 days in the case of a claim regarding Disability) if special circumstances require an extension of time
for processing the request such as an election by the Administrator to hold a hearing, and if written notice of such extension and circumstances is given to such person within the initial 60-day period (45 days in the case of a claim regarding
Disability). If the decision on review is not made within such period, the claim will be considered denied. 
  

	12.3	Plan Administrative Costs. All reasonable costs and expenses (including legal, accounting, and employee communication fees) incurred by the Administrator in
administering the Plan shall be paid by the Plan to the extent not paid by the Employer. 

  

 12-3 

 ARTICLE 13 – MISCELLANEOUS 
  

	13.1	Unsecured General Creditor of the Employer. Participants and their Beneficiaries, heirs, successors and assigns shall have no legal or equitable rights, interests or claims
in any property or assets of the Employer. For purposes of the payment of benefits under the Plan, any and all of the Employer’s assets shall be, and shall remain, the general, unpledged, unrestricted assets of the Employer. Each
Employer’s obligation under the Plan shall be merely that of an unfunded and unsecured promise to pay money in the future. 

  

	13.2	Employer’s Liability. Each Employer’s liability for the payment of benefits under the Plan shall be defined only by the Plan and
by the deferral agreements entered into between a Participant and the Employer. An Employer shall have no obligation or liability to a Participant under the Plan except as provided by the Plan and a deferral agreement or agreements. An Employer
shall have no liability to Participants employed by other Employers. 

  

	13.3	Limitation of Rights. Neither the establishment of the Plan, nor any amendment thereof, nor the creation of any fund or account, nor the payment of any
benefits, will be construed as giving to the Participant or any other person any legal or equitable right against the Employer, the Plan or the Administrator, except as provided herein; and in no event will the terms of employment or service of the
Participant be modified or in any way affected hereby. 

  

	13.4	Anti-Assignment. Except as may be necessary to fulfill a domestic relations order within the meaning of Code Section 414(p), none of the benefits or
rights of a Participant or any Beneficiary of a Participant shall be subject to the claim of any creditor. In particular, to the fullest extent permitted by law, all such benefits and rights shall be free from attachment, garnishment, or any other
legal or equitable process available to any creditor of the Participant and his or her Beneficiary. Neither the Participant nor his or her Beneficiary shall have the right to alienate, anticipate, commute, pledge, encumber, or assign any of the
payments which he or she may expect to receive, contingently or otherwise, under the Plan, except the right to designate a Beneficiary to receive death benefits provided hereunder. Notwithstanding the preceding, the benefit payable from a
Participant’s Account may be reduced, at the discretion of the administrator, to satisfy any debt or liability to the Employer. 

  

	13.5	 Facility of Payment. If the Administrator determines, on the basis of medical reports or other evidence satisfactory to the
Administrator, that the recipient of any benefit payments under the Plan is incapable of handling his affairs by reason of minority, illness, infirmity or other incapacity, the Administrator may 

  

 13-1 

	 	 
direct the Employer to disburse such payments to a person or institution designated by a court which has jurisdiction over such recipient or a person or
institution otherwise having the legal authority under State law for the care and control of such recipient. The receipt by such person or institution of any such payments therefore, and any such payment to the extent thereof, shall discharge the
liability of the Employer, the Plan and the Administrator for the payment of benefits hereunder to such recipient. 

  

	13.6	Notices. Any notice or other communication to the Employer or Administrator in connection with the Plan shall be deemed delivered in writing if addressed to the Plan
Sponsor at the address specified in Section 1.03 of the Adoption Agreement and if either actually delivered at said address or, in the case or a letter, 5 business days shall have elapsed after the same shall have been deposited in the United
States mails, first-class postage prepaid and registered or certified. 

  

	13.7	Tax Withholding. If the Employer concludes that tax is owing with respect to any deferral or payment hereunder, the Employer shall withhold such
amounts from any payments due the Participant, as permitted by law, or otherwise make appropriate arrangements with the Participant or his Beneficiary for satisfaction of such obligation. Tax, for purposes of this Section 13.7 means any
federal, state, local or any other governmental income tax, employment or payroll tax, excise tax, or any other tax or assessment owing with respect to amounts deferred, any earnings thereon, and any payments made to Participants under the Plan.

  

	13.8	Indemnification. (a) Each Indemnitee (as defined in Section 13.8(e)) shall be indemnified and held harmless by the Employer for all actions taken by him and for all
failures to take action (regardless of the date of any such action or failure to take action), to the fullest extent permitted by the law of the jurisdiction in which the Employer is incorporated, against all expense, liability, and loss (including,
without limitation, attorneys’ fees, judgments, fines, taxes, penalties, and amounts paid or to be paid in settlement) reasonably incurred or suffered by the Indemnitee in connection with any Proceeding (as defined in Subsection (e)). No
indemnification pursuant to this Section shall be made, however, in any case where (1) the act or failure to act giving rise to the claim for indemnification is determined by a court to have constituted willful misconduct or recklessness or
(2) there is a settlement to which the Employer does not consent. 

 (b) The right to indemnification provided in this
Section shall include the right to have the expenses incurred by the Indemnitee in defending any Proceeding paid by the Employer in advance of the final disposition of the Proceeding, to the fullest extent permitted by the law of the jurisdiction in
which the Employer is incorporated; provided that, if such law requires, the payment of such expenses incurred by the Indemnitee in advance of the final disposition of a Proceeding shall be made only on delivery to the Employer of 

  

 13-2 

 
an undertaking, by or on behalf of the Indemnitee, to repay all amounts so advanced without interest if it shall ultimately be determined that the Indemnitee is not entitled to be indemnified
under this Section or otherwise. 
 (c) Indemnification pursuant to this Section shall continue as to an Indemnitee who has
ceased to be such and shall inure to the benefit of his heirs, executors, and administrators. The Employer agrees that the undertakings made in this Section shall be binding on its successors or assigns and shall survive the termination, amendment
or restatement of the Plan. 
 (d) The foregoing right to indemnification shall be in addition to such other rights as the
Indemnitee may enjoy as a matter of law or by reason of insurance coverage of any kind and is in addition to and not in lieu of any rights to indemnification to which the Indemnitee may be entitled pursuant to the by-laws of the Employer.

 (e) For the purposes of this Section, the following definitions shall apply: 
 (1) “Indemnitee” shall mean each person serving as an Administrator (or any other person who is an employee, director, or
officer of the Employer) who was or is a party to, or is threatened to be made a party to, or is otherwise involved in, any Proceeding, by reason of the fact that he is or was performing administrative functions under the Plan. 
 (2) “Proceeding” shall mean any threatened, pending, or completed action, suit, or proceeding (including, without limitation,
an action, suit, or proceeding by or in the right of the Employer), whether civil, criminal, administrative, investigative, or through arbitration. 
  

	13.9	Successors. The provisions of the Plan shall bind and inure to the benefit of the Plan Sponsor, the Employer and their successors and
assigns and the Participant and the Participant’s designated Beneficiaries. 

  

	13.10	Disclaimer. It is the Plan Sponsor’s intention that the Plan comply with the requirements of Code Section 409A. Neither the Plan Sponsor nor the
Employer shall have any liability to any Participant should any provision of the Plan fail to satisfy the requirements of Code Section 409A. 

  

	13.11	Governing Law. The Plan will be construed, administered and enforced according to the laws of the State specified by the Plan Sponsor
in Section 12.01 of the Adoption Agreement. 

  

 13-3 

 APPENDIX A 
 DEL MONTE FOODS COMPANY DEFERRED COMPENSATION PLAN

 The provisions of this Appendix A shall apply to the Del Monte Foods Company Deferred Compensation Plan. 
 1. Definitions. For all purposes of the Plan, the following definitions shall apply: 
 (a) “Administrative Committee” means a committee of one or more persons appointed by the
Administrator and delegated authority to administer the Plan pursuant to Section 12.1(j) of the Plan. 
 (b) “Performance-Based Compensation” means compensation that meets the requirements of performance-based compensation specified in Section 409A(a)(4)(B)(iii) of the Internal Revenue Code of
1986, as amended. Performance-Based Compensation must relate to services performed by the Participant during a designated incentive period of at least twelve (12) months provided that the Participant performed services continuously from a date
no later than the date upon which the performance criteria are established through a date no earlier than the date upon which the Participant makes an initial deferral election. The performance goals must be pre-established in writing no later than
ninety (90) days after the commencement of the performance period, and the outcome must be substantially uncertain at the time the criteria are established. 
 (c) “Section 16 Officer” a person who is an officer of the Plan Sponsor or any participating
Employer within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 
 (d) “Specified Date” means the particular date or dates selected by the Participant on the deferral agreement for distribution of the Participant’s vested
Account pursuant to Section 6.01(b) of the Adoption Agreement.  
 (e) “Years of
Service” shall mean each complete year of employment in which the Participant has been employed by his or her participating Employer. For purposes of this definition, a year of employment shall be a 365 day period (or 366 day period in
case of a leap year) that, for the first year of employment, commences on the Participant’s date of hire and that, for any subsequent year, commences on the anniversary of that hire date. Years of Service shall not include any period of
employment with an Employer prior to the time such Employer became a participating Employer in the Plan, unless specifically provided otherwise by the Administrator. Notwithstanding the foregoing, the following periods of service with a predecessor
employer shall count toward “Years of Service”: 
 (i) The amount of continuous employment recognized
by the H.J. Heinz Company prior to the closing of the acquisition for employees who became employees of Del Monte Corporation as determined by the Agreement and Plan of Merger dated as of June 12, 2002 among H. J. Heinz Company, SKF Foods Inc.,
Del Monte Corporation and Del Monte Foods Company. 
 (ii) The amount of continuous employment recognized by
Kraft Foods Global, Inc. prior to the closing of the acquisition for employees who became employees of Del Monte Corporation as determined by the Asset Sale Agreement between Kraft Foods Global, Inc. and Del Monte Corporation dated as of
March 15, 2006. 

 (iii) The amount of continuous employment recognized by Meow Mix Holdings, Inc. prior to
the closing of the acquisition for employees who became employees of Del Monte Corporation as determined by the Stock Purchase Agreement, dated as of March 1, 2006, between Meow Mix Holdings, Inc. and Del Monte Corporation. 
 2. Authority to Freeze the Plan. For the avoidance of doubt, in addition to the authority to amend or terminate the Plan, the Administrator has the
authority to discontinue contributions to or “freeze” the Plan at any time. 
 3. Authority to Accelerate or Delay
Contributions. For the avoidance of doubt, the Administrator reserves the right, in its sole discretion, to delay or accelerate distributions under the Plan to the extent permitted by Section 409A of the Internal Revenue Code of 1986,
as amended. 
 4. Plan Investment Alternatives. Notwithstanding any other provision of this Plan that may be interpreted to the
contrary, Participant investment decisions regarding the hypothetical amounts credited to a Participant’s Account are to be used for measurement purposes only, and a Participant’s election of any available investment alternative, the
allocation to his or her Account thereto, the calculation of additional amounts and the crediting or debiting of such amounts to a Participant’s Account shall not be considered or construed in any manner as an actual investment of his or her
Account in any such investment alternative. In the event that the Administrator, in its own discretion, decides to invest funds in any or all of the selected investment alternatives, no Participant shall have any rights in or to such investments
themselves. 
 5. Intended Effect of Delegation of Administrative Authority. For the avoidance of doubt, any persons or persons that are
delegated authority by the Administrator to administer the Plan shall be treated as the Administrator for all purposes of the Plan with respect to such delegation of authority, including, without limitation, the right to be indemnified by an
Employer as an Indemnitee pursuant to Section 13.8 of the Plan. 
 6. Clawback Offset. To the extent a Participant is
subject to any clawback right that has been triggered with respect to any compensation previously paid to Participant or Compensation deferred under this Plan (the amount with respect to which the clawback right has been triggered is the
“Clawback Amount”), in the Plan Administrator’s discretion, all or any portion of such Clawback Amount may be withheld by Employer and offset any amounts otherwise distributable under this Plan, such offset to occur at
the time the distribution would otherwise be made, and the Participant’s Account balance shall be reduced at such time to reflect such offset. 
 7. Obligations. The participating Employer that would otherwise have paid a Participant the amount elected for deferral under the Plan is the only entity with any obligation to make payments with respect to such
portion of the Participant’s Account attributable to such deferral (the elected deferred amount as adjusted for any related gains or losses credited to the Account), and no other entity has any liability for any failure by a participating
Employer to make such 

 
payments. No participating Employer has any obligation or potential liability with respect to any portion of any Participant’s Account attributable to deferrals of compensation (including
related credited gains and losses) that would not otherwise have been paid by such Employer to such Participant in the absence of a deferral election. For the avoidance of doubt, the Plan Sponsor has no obligation to pay any portion of any
Participant’s Account, or potential liability for any failure by any participating Employer to make any payments contemplated by the Plan.

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