Document:

Del Monte Foods Company Performance Shares Agreement

 Exhibit 10.4 
 DEL MONTE FOODS COMPANY 
 PERFORMANCE SHARES 
 AGREEMENT 
 This Performance Shares
Agreement (the “Agreement”) contains the terms and conditions under which the Compensation Committee of the Board (the “Committee”), on behalf of Del Monte Foods Company (the “Company”), has granted to you,
[EMPLOYEE NAME] (the “Participant”), as of [Month 00, 0000] (the “Grant Date”), and pursuant to the Del Monte Foods Company 2002 Stock Incentive Plan (the “Plan”), units representing the
Common Stock of the Company known as “Performance Shares,” in order to encourage you to continue to contribute to the Company’s growth and success. 
 1. Grant of Performance Shares. The Performance Shares award consists of 00,000 units representing shares of the Common Stock of the Company, which the Company has granted to the Participant as of the
date hereof as a separate incentive in connection with his or her service to the Company and not in lieu of any salary or other compensation for his or her services. The Performance Shares also shall include any new, additional, or different
securities or units representing such securities the Participant may become entitled to receive with respect to such Performance Shares by virtue of any increase or decrease in the number of issued shares of Common Stock resulting from a subdivision
or consolidation of shares of Common Stock, or the payment of a stock dividend (but only on shares of Common Stock), or any other increase or decrease in the number of such shares effected without receipt or payment of consideration by the Company,
or any change in the capitalization of the Company pursuant to Section 10(b) of the Plan, or by virtue of any Change of Control or other transaction pursuant to Section 10(c) of the Plan. The Performance Shares shall be subject to the
Restrictions pursuant to Section 3 of this Agreement. 
 2. Participant’s Account; Certain Rights in Respect of Performance
Shares. 
 (a) The Performance Shares granted to the Participant shall be entered into an account in the Participant’s name. This
account shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the number of shares of Common Stock to be paid to or in respect of the Participant pursuant to this Agreement. 

(b) During the period before the release of the Restrictions on the Performance Shares as provided in Section 4, the Participant shall have no
voting rights in respect of the Performance Shares. 
 (c) Dividend equivalents will be credited in the form of additional Performance Shares
to the Participant’s account, based on the Fair Market Value of Common Stock on the date the dividend is issued. 
 3.
Restrictions. Prior to their release from the Restrictions as set forth in Section 4 below, all Performance Shares held for or in respect of the Participant, and the shares of Common Stock that such Performance Shares represent, may not
be assigned, transferred, or otherwise encumbered or disposed of by the Participant. 

 4. Release of Performance Shares from Restrictions. 
 (a) Subject to the provisions of paragraph (e) of this Section 4, the Restrictions shall cease to apply to the Performance Shares granted under
this Agreement, or the Performance Shares shall be forfeited, on the Vesting / Forfeiture Date defined below, or shall vest in their entirety upon the earlier occurrence of a Change of Control. Upon the release of the Performance Shares from the
Restrictions (except if receipt of the Performance Shares is deferred as provided in Section 5), the Participant shall be paid the value of his or her account in the form of Common Stock. No fractional shares of Common Stock will be issued. If
the calculation of the number of shares of Common Stock to be issued results in fractional shares, then the number of shares of Common Stock will be rounded up to the nearest whole share of Common Stock. 
 (b) The Committee, in its sole discretion, has established a target performance goal based on the Company’s Return on Invested Capital (“ROIC
Target”), which will be measured annually over a three (3) year “performance period” commencing on [Date] through [Date]. The ROIC Target or the Performance Shares award may be adjusted by the Committee from time to
time, in its sole discretion, to the extent necessary in order to reflect a change in corporate capitalization, such as a stock split or dividend, or a corporate transaction, such as any merger, consolidation, separation (including a spinoff or
other distribution of stock or property by the Company), reorganization, or any partial or complete liquidation by the Company, as provided by Sections 10(b) or 10(c) of the Plan, asset write-downs, litigation or claim judgments or settlements,
effects of changes in U.S. tax laws, generally accepted accounting principles or other laws or provisions affecting the Company’s reported financial results, extraordinary, unusual or non-recurring items as described in Accounting
Principles Board Opinion No. 30 and/or in management’s discussion and analysis of financial condition and results of operations appearing in the Company’s annual report to stockholders for the applicable year, foreign exchange gains
and losses, exchange rate effects, as applicable, for non-U.S. dollar denominated net sales and operating earnings, the effects of any statutory adjustments to corporate tax rates; provided, however, that to the extent that any such
inclusions or exclusions affect awards to “covered employees” (as such term is defined in Section 162(m) of the Code), they shall be prescribed in a manner that strives to meet the requirements of Section 162(m) of the Code.

 Based on the Company’s level of achievement of the ROIC Target, the Restrictions shall cease to apply to the Performance Shares or the Performance
Shares shall be forfeited, according to the following matrix: 
 Vesting of Performance Shares based on Achievement of ROIC Targets

  

							
	 Performance
Period
	  	 ROIC Target
	  	 Percent
of
Performance
Shares Released
from Restrictions
 or Forfeited Based
on Achievement of
ROIC
Target
	 	 Vesting / Forfeiture
 Date

	(“Fiscal Year [YEAR]”)	  	Greater than or equal to Fiscal Year [YEAR] ROIC Target (X.X%) = vest	  	25%	 	 First day after Company files its Form 10-K for
 Fiscal Year [YEAR]

		  	Less than Fiscal Year [YEAR] ROIC Target (X.X%) = forfeiture	  		 	

  

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	 Performance
Period
	  	 ROIC Target
	  	Percent of
Performance
Shares Released
from Restrictions
or Forfeited Based
on Achievement of
ROIC
Target	 	 Vesting / Forfeiture
Date

	(“Fiscal Year [YEAR]”)	  	Greater than or equal to Fiscal Year [YEAR] ROIC Target (X.X%) = vest	  	25%	 	 First day after Company files its Form 10-K for
 Fiscal Year [YEAR]

		  	Less than Fiscal Year [YEAR] ROIC Target (X.X %) = forfeiture	  		 	
				
	(“Fiscal Year [YEAR]”)	  	Greater than or equal to Fiscal Year [YEAR] ROIC Target (X.X %) = vest	  	50%	 	 First day after Company files its Form 10-K for
 Fiscal Year [YEAR]

				
		  	Less than Fiscal Year [YEAR] ROIC Target (X.X %) = forfeiture	  		 	

 The Committee shall have sole discretion to determine whether the ROIC Target has been achieved and whether the
Restrictions shall be released from any or all of the Performance Shares. The Committee’s determinations pursuant to the exercise of discretion with respect to all matters described in this paragraph shall be final and binding on the
Participant. 
 (c) The vesting of the Performance Shares, if any, shall be accelerated to include cumulatively the next level(s) of vesting
commensurate with the level of ROIC Target achieved. For example, if the Company’s Fiscal Year [2009] ROIC Target is achieved or surpassed in Fiscal Year [2007], then 100% vesting of all Performance Shares would
occur on the first day after the Company files its Form 10-K for Fiscal Year [2007], subject to the provisions of paragraph (e) of this Section 4. Likewise, if the Company’s Fiscal Year [2007] ROIC Target
is not achieved, then 25% of the Performance Shares shall be permanently forfeited, even if the Company achieves or exceeds its ROIC Target in a subsequent performance period. 
 (d) Upon the termination of the Participant’s employment by reason of Disability or death, the Performance Shares held by such Participant or his or
her designated beneficiary (as applicable) shall continue to vest at the time and in the amounts (if any) set forth pursuant to paragraph (a) of this Section 4, and Common Stock that is distributed on account of Performance Shares that
become vested (if any) shall be distributed to the Participant or his or her designated beneficiary (as applicable) subject to Section 6, below. 
  

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 (e) Upon the termination of the Participant’s employment by reason of Retirement, the Performance
Shares that remain subject to the Restrictions shall cease to apply on a pro-rata basis pursuant to the Company’s pro-rata vesting policy in effect at the time of Retirement; provided further, that in the case of Retirement, the maximum
number of Performance Shares that may vest shall be that number, if any, that would have vested on the next Vesting/Forfeiture Date set forth in Section 4(b) above following the Participant’s Retirement on the basis of the degree to which
the ROIC Target has been achieved. 
 (f) Upon the termination of the Participant’s employment for any reason other than Disability,
death or Retirement, Performance Shares that remain subject to the Restrictions at such time shall be forfeited by the Participant to the Company; provided that, for Participants (i) covered under the Executive Severance Plan or
(ii) who are parties to an employment agreement with the Company or a Subsidiary of the Company, in the case of termination of employment without Cause (as defined therein) or resignation for Good Reason (as defined therein), these Performance
Shares will be treated under such policy or employment agreement; provided further, that in the case of either (i) or (ii) above, the maximum number of Performance Shares that may vest shall be that number, if any, that would have
vested on the next Vesting/Forfeiture Date set forth in Section 4(b) above following such termination on the basis of the degree to which the ROIC Target has been achieved. 
 5. Deferral. The Committee has the right to determine, in its sole discretion, whether and in what manner Participants shall be permitted to elect
to defer the receipt of a distribution of Common Stock in respect of the Performance Shares under a deferral plan of the Company, in which case, after the Restrictions are released, the Performance Shares would remain as stock equivalent units in
the Participant’s account. Stock equivalent units held in the Participant’s account pursuant to this Section 5 shall accrue dividend equivalents that will be credited in the form of additional stock equivalent units to the
Participant’s account, based on the Fair Market Value of Common Stock on the date the dividend is issued. At the end of the deferral period, all stock equivalent units will be converted and distributed to the Participant in the form of Common
Stock. No fractional shares of Common Stock will be issued. If the calculation of the number of shares of Common Stock to be issued results in fractional shares, then the number of shares of Common Stock will be rounded up to the nearest whole share
of Common Stock. 
 6. Designation of Beneficiary. The Participant may designate a beneficiary or beneficiaries to whom, along with
all other grants or awards made to the Participant under the Plan, unvested Performance Shares or Common Stock that is distributed on account of Performance Shares that become vested following the Participant’s death shall be transferred. A
Participant shall designate his or her beneficiary by executing the “2002 Stock Incentive Plan Beneficiary Designation and Spousal Consent Form” and returning it to the Corporate Secretary. Any form so submitted shall replace, in respect
of all grants or awards made to the Participant under the Plan, any previous version of the same form the Participant may have submitted to the Corporate Secretary. A Participant shall have the right to change his or her beneficiary from time to
time by executing a subsequent “2002 Stock Incentive Plan Beneficiary Designation and Spousal Consent Form” and otherwise complying with the terms of such form and the Committee’s rules and procedures, as in effect from time to time.
The Committee shall be entitled to rely on the last “2002 Stock Incentive Plan Beneficiary Designation and Spousal Consent Form” submitted by the Participant, and accepted by the Corporate Secretary, prior to such Participant’s death.
In the absence of such designation of beneficiary, unvested Performance Shares or Common Stock that is distributed on account of Performance Shares that become vested following the Participant’s death will be transferred to the
Participant’s surviving spouse, or if none, to the Participant’s estate. If the Committee has any doubt as to the proper beneficiary, the Committee shall have the right, exercisable in its sole discretion, to withhold such payments until
this matter is resolved to the Committee’s satisfaction. 
 7. Taxes. The Company may, in its discretion, make such provisions
and take such steps as it may deem necessary or appropriate for the withholding of all federal, state, local and other taxes required by law to be withheld with respect to the vesting of any Performance Shares or the distribution of 

  

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Common Stock on account of the vesting of any Performance Shares, including, but not limited to, withholding shares of Common Stock granted under this
Agreement equal in value to such withholding taxes, deducting the amount of such withholding taxes from any other amount then or thereafter payable to the Participant, or requiring the Participant or the beneficiary or legal representative of the
Participant to pay in cash to the Company the amount required to be withheld or to execute such documents as the Company deems necessary or desirable to enable it to satisfy its withholding obligations. In addition, if any Performance Shares becomes
subject tothe FICA tax imposed under Code Sections 3101, 3121(a) and 3121(v)(2) or income tax at source on wages imposed under Code Section 3401 or the corresponding withholding provisions of applicable state, local or foreign tax laws as a
result of the payment of the FICA amount and to pay the additional income tax at source on wages attributable to the pyramiding of Code Section 3401 wages and taxes prior to the release of the Restrictions, the Company may lift Restrictions and
use the minimum Performance Shares necessary to pay such taxes on behalf of the Participant. Further, in the event any Performance Shares are subject to Code Section 409A and fail to meet the requirements of that section, the Company may
release Restrictions on Performance Shares having a value not to exceed the amount required to be included in income as a result of the failure to comply with the requirements of Code Section 409A and the regulations thereunder. 
 8. No Special Rights; No Right to Future Awards. Nothing contained in this Agreement shall confer upon any Participant any right with respect to
the continuation of his or her service with the Company, or any right to receive any other grant, bonus, or other award. 
 9. Address for
Notices. Any notice to be given to the Company under the terms of this Agreement shall be addressed to the Company, in care of its Corporate Secretary, at One Market @ the Landmark, San Francisco, CA 94105, or at such other address as the
Company may hereafter designate in writing. 
 10. Other Benefits. The benefits provided to the Participant pursuant to this Agreement
are in addition to any other benefits available to such Participant under any other plan or program of the Company. The Agreement shall supplement and shall not supersede, modify, or amend any other such plan or program except as may otherwise be
expressly provided. 
 11. Plan Governs. This Agreement is subject to all of the terms and provisions of the Plan. In the event of a
conflict between one or more provisions of this Agreement and one or more provisions of the Plan, the provisions of the Plan shall govern. Capitalized terms and phrases used and not defined in this Agreement shall have the meaning set forth in the
Plan. 
 12. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California,
without reference to its principles of conflicts of laws. 
 13. Committee Authority. The Committee shall have all discretion, power,
and authority to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation, and application of the Plan as are consistent therewith. All actions taken and all interpretations and determinations made by the
Committee in good faith shall be final and binding upon the Participant, the Company, and all other interested persons, and shall be given the maximum deference permitted by law. No member of the Committee shall be personally liable for any action,
determination, or interpretation made in good faith with respect to the Plan or this Agreement. In the event that the Performance Shares, or any deferral thereof under Section 5, becomes, or could become but for this Section 13, subject to
Code Section 409A, the Committee may unilaterally amend the Performance Shares in any manner permitted under Code Section 409A to eliminate or reduce any excise tax, including any change to the form, timing and conditions of payment as
permitted by law. 
  

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 14. Captions. The captions provided herein are for convenience only and are not to serve as a
basis for the interpretation or construction of this Agreement. 
 15. Agreement Severable. In the event that any provision in this
Agreement shall be held invalid or unenforceable, such provision shall be severable from, and such invalidity or unenforceability shall not be construed to have any effect on, the remaining provisions of this Agreement. 
 16. Definitions. For purposes of this Agreement, words and phrases bearing initial capital letters shall have the meanings assigned in the Plan,
and the following words and phrases shall have the following meanings unless a different meaning is plainly required by the context: 
 (a)
“Restrictions” means those restrictions on the Performance Shares set forth in Section 3. 
 (b) “Return on
Invested Capital” means net operating profit after tax (income from continuing operations (adjusted for integration costs and certain other expenses) before income taxes, plus interest expense, plus amortization, less taxes calculated at
the annual effective tax rate) divided by average invested capital (total assets less cash less assets of discontinued operations less deferred tax assets less accounts payable and accrued expenses less other non-current liabilities; calculated for
the current year and prior year, added together and divided by 2) measured at the end of the fiscal year. 
  

									
	DEL MONTE FOODS COMPANY	 		 		 	PARTICIPANT
					
	 By:
	 	  	 		 		 	  
	Title:	 	Vice President, Human Resources	 		 		 	EMPLOYEE NAME

  

 6Del Monte Foods Company Restricted Stock Unit Agreement

 Exhibit 10.5 
 DEL MONTE FOODS COMPANY 
 RESTRICTED STOCK UNIT 
 AGREEMENT 
 This agreement (the
“Agreement”) contains the terms and conditions under which you,                      (the “Participant”), as of
[DATE] (the “Grant Date”), and pursuant to the Del Monte Foods Company 2002 Stock Incentive Plan (the “Plan”), have been granted restricted stock units representing the Common Stock of Del Monte Foods Company (the
“Company”). This Agreement is issued in fulfillment of the annual equity compensation to be provided to Participant as a Non-Employee Director of the Company in accordance with the Del Monte Foods Company Non-Employee Director Compensation
Plan. 
 1. Grant of Restricted Stock Units. The grant consists of restricted stock units (the “RSUs”) representing
                     shares of the Common Stock of the Company, which the Company has issued to the Participant as of the Grant Date as equity
compensation for his or her services as a Non-Employee Director of the Company. The RSUs also shall include any new, additional, or different securities or units representing such securities the Participant may become entitled to receive with
respect to such RSUs by virtue of any increase or decrease in the number of issued shares of Common Stock resulting from a subdivision or consolidation of shares of Common Stock, or the payment of a stock dividend (but only on shares of Common
Stock), or any other increase or decrease in the number of such shares effected without receipt or payment of consideration by the Company, or any change in the capitalization of the Company pursuant to Section 10(b) of the Plan, or by virtue
of any Change of Control or other transaction pursuant to Section 10(c) of the Plan. The RSUs shall be subject to the Restrictions pursuant to Section 3 of this Agreement. 
 2. Participant’s Account; Certain Rights in Respect of RSUs. 
 (a) The RSUs granted to the Participant shall be entered into an account in the Participant’s name. This account shall be a bookkeeping entry
only and shall be utilized solely as a device for the measurement and determination of the number of shares of Common Stock to be paid to or in respect of the Participant pursuant to this Agreement. 
 (b) The Participant shall have no voting rights in respect of the RSUs. 
 3. Restrictions. Prior to their vesting as provided in Section 4, all RSUs held for or in respect of the Participant, and the shares
of Common Stock that such RSUs represent, may not be assigned, transferred, or otherwise encumbered or disposed of by the Participant. In the event shares are not issued upon the vesting of the RSUs due to deferral pursuant to Section 5,
restrictions upon the transfer of such deferred stock units shall be as set forth in the Del Monte Foods Company 2005 Non-Employee Director Deferred Compensation Plan (or any successor plan, as applicable), including any related agreements pursuant
to which such deferral is effected. 
 4. Vesting of RSUs. The RSUs shall vest in installments over an approximate three-year
period, with one-third vesting immediately prior to each of the three Annual Meetings of Stockholders occurring after the Grant Date; provided, however, that if the Participant’s service as a director of the Company terminates for any
reason between Annual Meetings, there shall 

  

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vest a percentage of the one-third vesting installment applicable to such year that is equal to the percentage of the year (beginning with the date the last
Annual Meeting of Stockholders) that will have elapsed upon the end of the fiscal quarter in which such termination of service occurs. Any portion of the RSUs that are unvested upon termination of service as a director of the Company for any reason
shall be forfeited upon such termination of service. Upon the vesting of the RSUs (unless receipt is deferred in accordance with Section 5 below), the Participant shall be paid the value of his or her account in the form of Common Stock. No
fractional shares of Common Stock will be issued. If the calculation of the number of shares of Common Stock to be issued results in fractional shares, then the number of shares of Common Stock will be rounded up to the nearest whole share of Common
Stock. 
 5. Deferral. In the event Participant has elected to defer Participant’s equity compensation pursuant to the Del
Monte Foods Company 2005 Non-Employee Director Deferred Compensation Plan, or any successor plan, prior to the commencement of the calendar year in which the Grant Date occurs, the Common Stock that otherwise would have been issued upon vesting of
the RSUs shall not be issued and instead Deferred Stock Units shall be credited to Participant in accordance with such plan. Such Deferred Stock Units shall be administered in accordance with the Del Monte Foods Company 2005 Non-Employee Director
Deferred Compensation Plan, or any successor plan, as applicable, including with respect to the crediting of dividends and the designation of any beneficiary. 
 6. Designation of Beneficiary. Unless Participant has elected to defer his equity compensation pursuant to the Del Monte Foods Company 2005 Non-Employee Director Deferred Compensation Plan, or any
successor plan, prior to the commencement of the calendar year in which the Grant Date occurs, the Participant may designate a beneficiary or beneficiaries to whom the Common Stock that is distributed on account of the RSUs that become vested at the
Participant’s death shall be transferred. A Participant shall designate his or her beneficiary by executing the “2002 Stock Incentive Plan Beneficiary Designation and Spousal Consent Form” and returning it to the Corporate Secretary.
Any form so submitted shall replace, in respect of all grants or awards made to the Participant under the Plan, any previous version of the same form the Participant may have submitted to the Corporate Secretary. A Participant shall have the right
to change his or her beneficiary from time to time by executing a subsequent “2002 Stock Incentive Plan Beneficiary Designation and Spousal Consent Form” and otherwise complying with the terms of such form and the rules and procedures of
the Committee, as in effect from time to time. The Compensation Committee (the “Committee”), which administers the Plan, shall be entitled to rely on the last “2002 Stock Incentive Plan Beneficiary Designation and Spousal Consent
Form” submitted by the Participant, and accepted by the Corporate Secretary, prior to such Participant’s death. In the absence of such designation of beneficiary, Common Stock that is distributed on account of RSUs that become vested at
the Participant’s death will be transferred to the Participant’s surviving spouse, or if none, to the Participant’s estate. If the Committee has any doubt as to the proper beneficiary, the Committee shall have the right, exercisable
in its sole discretion, to withhold such payments until this matter is resolved to the Committee’s satisfaction. 
 7.
Taxes. It shall be the sole responsibility of the Participant to properly account for and to pay any income and self-employment taxes payable on amounts paid or deferred under this Agreement, the Plan, the Del Monte Foods Company Non-Employee
Director Compensation Plan or the Del Monte Foods Company 2005 Non-Employee Director Deferred Compensation Plan. 
  

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 8. No Special Rights; No Right to Future Awards. Nothing contained in this Agreement shall
confer upon any Participant any right with respect to the continuation of his or her service on the Board of Directors, or any right to receive any other grant, bonus, or other award. 
 9. Address for Notices. Any notice to be given to the Company under the terms of this Agreement shall be addressed to the Company, in care
of its Corporate Secretary, at One Market @ the Landmark, San Francisco, CA 94105, or at such other address as the Company may hereafter designate in writing. 
 10. Other Benefits. The benefits provided to the Participant pursuant to this Agreement are in addition to any other benefits available to such Participant under any other plan or program of the Company.
The Agreement shall supplement and shall not supersede, modify, or amend any other such plan or program except as may otherwise be expressly provided. 
 11. Plan Governs. This Agreement is subject to all of the terms and provisions of the Plan. In the event of a conflict between one or more provisions of this Agreement and one or more provisions of the
Plan, the provisions of the Plan shall govern. Capitalized terms and phrases used and not defined in this Agreement shall have the meaning set forth in the Plan. 
 12. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California, without reference to its principles of conflicts of laws. 
 13. Committee Authority. The Committee shall have all discretion, power, and authority to interpret the Plan and this Agreement and to
adopt such rules for the administration, interpretation, and application of the Plan as are consistent therewith. All actions taken and all interpretations and determinations made by the Committee in good faith shall be final and binding upon the
Participant, the Company, and all other interested persons, and shall be given the maximum deference permitted by law. No member of the Committee shall be personally liable for any action, determination, or interpretation made in good faith with
respect to the Plan or this Agreement. In the event that the RSUs, or any deferral thereof under Section 5, become or could become but for this Section 13, subject to Code Section 409A, the Committee may unilaterally amend the RSUs in
any manner permitted under Code Section 409A to eliminate or reduce any additional tax, including any change to the form, timing and conditions of payment as permitted by law. 
 14. Captions. The captions provided herein are for convenience only and are not to serve as a basis for the interpretation or construction
of this Agreement. 
 15. Agreement Severable. In the event that any provision in this Agreement shall be held invalid or
unenforceable, such provision shall be severable from, and such invalidity or unenforceability shall not be construed to have any effect on, the remaining provisions of this Agreement. 
  

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	DEL MONTE FOODS COMPANY	 		 		 	PARTICIPANT
					
	 BY:
	 	  	 		 		 	  
	Name/Title: James Potter, Corporate Secretary	 		 		 	Director Name

  

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