Document:

<PAGE>
                                                                   Exhibit 10.23

                   NON-QUALIFIED EXECUTIVE EXCESS BENEFIT PLAN
                                 (1989 Formula)

The Non-Qualified Executive Excess Benefit Plan (1989 Formula) (hereinafter
referred to as the "Formula Plan") is established by Land O'Lakes, Inc.
(hereinafter referred to as "LOL") for the purpose of providing benefits to
officers of LOL to replace benefit reductions resulting from benefit formula
changes introduced in the 1989 Restatement of the Land O'Lakes Employee
Retirement Plan (hereinafter referred to as the "Qualified Plan") as required by
law.

1. EFFECTIVE DATE. The effective date of this Formula Plan is January 1, 1989.

2. PARTICIPATION REQUIREMENTS. An employee shall be a participant in this
Formula Plan (hereinafter referred to as "Participant") if the following
conditions are met:

a. The employee incurs a termination of employment after the Effective Date; and

b. The employee was employed as an officer of LOL as of the Effective Date.

3. EXCESS BENEFIT AMOUNT. The benefit provided hereunder will be the difference
between

(a) and (b) set forth below, payable under the form of benefit elected or
otherwise applicable to Participant under the Qualified Plan:

a. Participant's Accrued Benefit calculated according to the terms of the
Qualified Plan as of December 31, 1988.

b. Participant's Accrued Benefit calculated according to the terms of the
Qualified Plan as of Participant's termination date.

In the event Participant elects an Early Retirement Benefit under the Qualified
Plan, the Excess Benefit amount will be subject to the early retirement
reduction factor, if any, set forth in the Qualified Plan as of Participant's
termination date.

4. TIME OF PAYMENT. Excess benefit payments shall commence on the date
Participant's retirement benefits commence under the Qualified Plan.

5. FUNDING. LOL shall not be required to fund excess benefits payable hereunder.
The obligations which LOL incurs hereunder may be satisfied only out of its
general corporate assets, and satisfaction of such obligations shall be subject
to any claims of LOL's other creditors having priority as to LOL's assets.
Nothing contained herein, and no action taken pursuant to the provisions hereof
shall create or be construed to create a trust of any kind or a fiduciary
relationship between LOL and Participant or any other person.

                                       1
<PAGE>
6. MISCELLANEOUS.

a. This Formula Plan shall not be construed as providing any individual with the
right to be retained in LOL's employ or to receive any benefit not specifically
provided hereunder.

b. Nothing contained herein shall exclude or in any manner modify or otherwise
affect any existing or future rights of Participant to participate and receive
the benefits of any compensation, bonus, pension, life insurance, medical and
hospitalization insurance or other employee benefit plan or program to which
such Participant otherwise might be or become entitled.

c. This Formula Plan shall not be deemed to constitute an amendment to, or a
part of, the Qualified Plan. Au references hereunder to the Qualified Plan shall
include any amended or successor plan or plans maintained by LOL, the terms of
which may be applicable to Participant. However, if the Qualified Plan
terminates, merges with or is superseded by a successor plan and, as a result
thereof the amount of excess benefit to be paid to Participant hereunder would
be reduced or calculated on a different basis or commence at a later date or
dates, such excess benefit shall not be less than an amount calculated pursuant
to the terms of the Qualified Plan as in effect on the date on which any such
termination, merger or supersession occurs.

d. LOL retains the right to modify the terms of this Formula Plan or terminate
this Formula Plan at any time.

                                            LAND O'LAKES, INC.

                                            By: /s/ John F. Martin
                                                Vice President, Human Resources

                                       2<PAGE>
                                                                   Exhibit 10.24
                             NON-QUALIFIED EXECUTIVE
                           EXCESS BENEFIT SAVINGS PLAN
                                2002 RESTATEMENT

This Plan is established by Land O'Lakes, Inc. ("Land O'Lakes") for the purpose
of providing benefits to officers of Land O'Lakes in excess of limits on
employee contributions to the Land O'Lakes Employee Savings and Supplemental
Retirement Plan ("Savings Plan") imposed by Internal Revenue Code provisions,
specifically ss.ss. 401(a)(17), 402(g), and 415.

1.   Effective Date. The effective date of this Restatement is January 1, 2002.
     Its provisions shall retroactive effect to January 1, 1991.

2.   Participation Requirements. An employee shall be a participant in this Plan
     ("Participant") for each calendar year at any time during which the
     following conditions are satisfied:

     (a) the employee is employed as an officer of Land O'Lakes; and

     (b) the employee is a participant in the Savings Plan.

3.   Excess Benefit Amount. The Participant's Excess Benefit Amount for each
     calendar year shall be calculated as 3% of total compensation net of
     compensation deferred under the Land O'Lakes, Inc. Non-Qualified Deferred
     Compensation Plan ("Deferred Compensation Plan"), less the amount of
     employer contribution actually made to the Savings Plan for the account of
     the Participant for that calendar year.

4.   Excess Benefit Credit Account. Land O'Lakes will credit the Excess Benefit
     Amount described in paragraph 3 above to the account maintained for such
     Participant pursuant to the terms of the Deferred Compensation Plan. In the
     event the Participant does not participate in the Deferred Compensation
     Plan, Land O'Lakes shall maintain an Excess Benefit Savings Account in the
     name of the Participant, to which shall be credited the Excess Benefit
     Amount specified in paragraph 3 above. The Excess Benefit Amount will be
     credited to the applicable account not later than the end of the first
     calendar quarter of the year following the year for which the Excess
     Benefit Amount is calculated. At the end of each calendar quarter, the
     employer shall also credit to the account interest at the long-term rate of
     interest of Co-Bank as of October 1 of the year preceding each year of
     participation.

5.   Distribution. Amounts credited hereunder will be distributed to the
     Participant according to the payment schedule elected by the Participant
     for distribution of amounts payable to said Participant from the Deferred
     Compensation Plan; provided, however, if amounts credited to Participant
     have been maintained in a separate excess benefit savings account, these
     amounts shall be distributed in substantially equal monthly installments
     over a period of five (5) years beginning no later than the year next
     following the year in which the first to happen of the following events:

     (a) Participant's retirement;

     (b) Participant's disability;

     (c) Participant's death;

     (d) Participant's termination of employment for any reason.

<PAGE>

     The Participant's disability shall be established for the purpose of this
     Plan by his/her qualification for disability payments under any long term
     disability benefit plan maintained by Land O'Lakes at the time of
     disability. Unless otherwise provided, each installment shall be paid to
     the Participant; provided, however, that if the Participant is not living
     at the time the installment is payable it shall be paid to the beneficiary
     designated by him/her under the Land O'Lakes Deferred Compensation Plan, or
     in the event the Participant is not a participant in the Deferred
     Compensation Plan, then to the beneficiary designated by the Participant
     under the Savings Plan. If no beneficiary is designated, payments will be
     made to the Participant's estate.

6.   Funding. Land O'Lakes shall not be required to fund excess benefits payable
     hereunder. The obligations which Land O'Lakes incurs hereunder may be
     satisfied only out of its general corporate assets, and satisfaction of
     such obligations shall be subject to any claims of Land O'Lakes' other
     creditors having priority as to Land O'Lakes' assets. Nothing contained
     herein, and no action taken pursuant to the provisions hereof, shall create
     or be construed to create a trust of any kind or a fiduciary relationship
     between Land O'Lakes and any Participant or any other person.

7.   Miscellaneous.

     (a)  This Plan shall not be construed as providing any individual with the
          right to be retained in Land O'Lakes' employ or to receive any benefit
          not specifically provided hereunder.

     (b)  Nothing contained herein shall exclude or in any manner modify or
          otherwise affect any existing or future rights of Participant to
          participate and receive the benefits of any compensation, bonus,
          pension, life insurance, medical and hospitalization insurance or
          other employee benefit plan or program to which he otherwise might be
          or become entitled.

     (c)  This Plan shall not be deemed to constitute an amendment to or be a
          part of the Savings Plan. All references hereunder to the Savings Plan
          shall include any amended or successor plan or plans maintained by
          Land O'Lakes, the terms of which may be applicable to Participant.

     (d)  Land O'Lakes retains the right to modify the terms of this Plan or
          terminate this Plan at any time. No such modification or termination
          will affect benefit amounts credited to each Participant hereunder
          prior to the date of such modification or termination.

                                         LAND O'LAKES, INC.

                                         By ____________________________________
                                              Karen M. Grabow
                                              Vice President, Human Resources

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00035-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00035-of-00352.parquet"}]]