Document:

exv10w13

Exhibit 10.13

Dole Food Company, Inc. Non-

Employee Directors Deferred

Cash Compensation Plan

Amended and Restated Effective

February 24, 2011

 

 

Contents

	 	 	 	 	 

	Article 1. Introduction
	 	 	1	 
	1.1 Title and Purpose
	 	 	1	 
	1.2 Restatement and Applicability of the Plan
	 	 	1	 
	1.3 Status of the Plan
	 	 	1	 
	 
	 	 	 	 
	Article 2. Definitions
	 	 	3	 
	2.1 Account
	 	 	3	 
	2.2 Award Date
	 	 	3	 
	2.3 Beneficiary
	 	 	3	 
	2.4 Board of Directors
	 	 	3	 
	2.5 Change of Control for Grandfathered Amounts
	 	 	3	 
	2.6 Code
	 	 	5	 
	2.7 Committee
	 	 	5	 
	2.8 Company or Corporation
	 	 	5	 
	2.9 Compensation
	 	 	5	 
	2.10 Controlled Group
	 	 	5	 
	2.11 Daily Interest Rate
	 	 	5	 
	2.12 Eligible Director
	 	 	5	 
	2.13 Exchange Act
	 	 	5	 
	2.14 Grandfathered Amount
	 	 	5	 
	2.15 Initial Public Offering
	 	 	6	 
	2.16 Interest Rate
	 	 	6	 
	2.17 Meeting and Other Fees
	 	 	6	 
	2.18 Nongrandfathered Amount
	 	 	6	 
	2.19 Participant
	 	 	6	 
	2.20 Plan
	 	 	6	 
	2.21 Retainer
	 	 	6	 
	2.22 Rollover Account
	 	 	6	 
	2.23 Separation from Service
	 	 	6	 
	2.24 Year
	 	 	7	 
	 
	 	 	 	 
	Article 3. Participation
	 	 	8	 
	 
	 	 	 	 
	Article 4. Deferral Elections
	 	 	9	 
	4.1 Elections
	 	 	9	 
	 
	 	 	 	 
	Article 5. Deferral Accounts
	 	 	11	 
	5.1 Account
	 	 	11	 
	5.2 Immediate Vesting
	 	 	12	 
	5.3 Distribution of Benefits for
Grandfathered Amounts
	 	 	12	 

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	5.4 Distribution of Benefits for Nongrandfathered Amounts
	 	 	13	 
	5.5 Company’s Right to Withhold
	 	 	15	 
	 
	 	 	 	 
	Article 6. Administration
	 	 	16	 
	6.1 The Administrator
	 	 	16	 
	6.2 Committee Action
	 	 	16	 
	6.3 Rights and Duties
	 	 	16	 
	6.4 Indemnity and Liability
	 	 	17	 
	 
	 	 	 	 
	Article 7. Plan Changes and Termination
	 	 	18	 
	7.1 Amendments
	 	 	18	 
	7.2 Term
	 	 	18	 
	 
	 	 	 	 
	Article 8. Miscellaneous
	 	 	19	 
	8.1 Limitation on Participants’ Rights
	 	 	19	 
	8.2 Beneficiaries
	 	 	19	 
	8.3 Benefits Not Assignable; Obligations Binding Upon Successors
	 	 	19	 
	8.4 Governing Law; Severability
	 	 	19	 
	8.5 Compliance with laws
	 	 	19	 
	8.6 Plan Construction
	 	 	19	 
	8.7 Headings Not Part of Plan
	 	 	20	 
	8.8 Relationship to the 1993 Deferred Compensation Plan
	 	 	20	 
	8.9 Limited Exception to Irrevocability of Payout Elections for Grandfathered
Amounts
	 	 	20	 
	8.10 Permissible Delays or Accelerations
	 	 	20	 

i

 

Article 1. Introduction

1.1 Title and Purpose

This Plan shall be known as Dole Food Company, Inc. Non-Employee Directors Deferred Cash
Compensation Plan. The purpose of this Plan is to attract, motivate and retain experienced and
knowledgeable non-employee directors of the Company by permitting them to defer cash
compensation. Capitalized terms with special meanings are defined in Article 2.

1.2 Restatement and Applicability of the Plan

Effective as of January 1, 2009, the Company hereby amends and restates the Plan as
reflected in this document. In all cases, a Participant’s Grandfathered Amount shall be payable
only under the terms of the Plan in effect on October 3, 2004. Unless otherwise explicitly
provided in this Plan restatement, the Plan provisions, operation and administration in effect
prior to this restatement shall continue to govern the terms and conditions of the Plan prior to
January 1, 2009.

Effective as of February 24, 2011, the Company hereby amends and restates the 2009 Restatement
to permit the termination and liquidation of Plan benefits in a manner consistent with Section
409A.Notwithstanding any provision to the contrary and to assure that there is no material
modification of the Plan as in effect on October 3, 2004, nothing contained in this restatement
shall be interpreted as materially modifying, within the meaning of Treasury Regulation section
1.409A-6(a)(4), the prior restatement of the Plan with respect to Grandfathered Amounts.

1.3 Status of the Plan

	(a)	 	Compliance with Code Section 409A. The Plan is intended to comply with Code section
409A and the final Treasury Regulations issued thereunder with respect to Nongrandfathered
Amounts. For the period beginning on January 1, 2005, and ending on December 31, 2008, the
Plan was operated in good-faith compliance with Code section 409A, the final and temporary
Treasury Regulations issued thereunder, Notice 2005-1 and other applicable guidance.
	 
	(b)	 	Nonqualified Plan. The Plan is not qualified within the meaning of Code section 401(a). The
Plan is intended to provide an unfunded and unsecured promise to pay money in the future and
thus not to involve, pursuant to Treasury Regulations section 1.83-3(e), the transfer of
“property” for purposes of Code section 83. Likewise, allocations and accruals under this
Plan are not intended to confer an economic benefit upon the Participant nor is the right to
the receipt of future benefits under the Plan intended to result in any Participant or
Beneficiary being in constructive receipt of any amount so as to result in any benefit due
under the Plan being includable in the gross income of any Participant or Beneficiary in
advance of the date on which payment of any benefit due under the Plan is actually made.
	 
	(c)	 	No Guarantees of Intended Tax Treatment. The Plan shall be administered
and interpreted so as to satisfy the requirements for the intended tax treatment under the
Code described in this Section 1.3. However, the treatment of benefits earned under and
benefits received from this Plan, for purposes of the Code and other applicable tax laws
(such as state income and employment tax laws), shall be determined under the Code and
other applicable tax laws and no guarantee or

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	 	 	commitment is made to any Participant or Beneficiary with respect to the treatment
of accruals under or benefits payable from the Plan for purposes of the Code and other
applicable tax laws.

2

 

Article 2. Definitions

Whenever the following terms are used in this Plan they have the meaning specified below,
unless the context clearly indicates the contrary:

2.1 Account

“Account” means a notional Account, maintained for recordkeeping purposes only, that
reflects the amount credited to a Participant under the terms of the Plan. Unless the context
otherwise requires, the term “Account” also includes the Participant’s Rollover Account (if
applicable).

2.2 Award Date

“Award Date” means the following:

	(a)	 	Meeting and Other Fees. The Award Date for Meeting and Other Fees is the date of the
meeting or other event for which the Compensation is payable; and
	 
	(b)	 	Retainer. The Award Date for the Retainer is the last day of the applicable quarter.
However, if the Participant terminates service as a member of the Board of Directors prior to
the end of the quarter, the Award Date shall be the date of the Participant’s termination of
service as a member of the Board of Directors.

2.3 Beneficiary

“Beneficiary” has the meaning set forth in Section 8.2(b).

2.4 Board of Directors

“Board of Directors” means the Board of Directors of the Company.

2.5 Change of Control for Grandfathered Amounts

A “Change of Control” is deemed to occur, for purposes of the Grandfathered Amounts, if and
as of the first day that any one or more of the following conditions are satisfied, whether
accomplished directly or indirectly, or in one or a series of related transactions:

	(a)	 	Any Person becomes the Beneficial Owner, directly or indirectly, of securities of
the Corporation representing 20 percent or more of the combined voting power of the
Corporation’s then outstanding securities, other than

	 	(1)	 	David H. Murdock, a California resident (who is, at the time of this
restatement, the Chief Executive Officer of the Company and Chairman of the Board of
Directors), or
	 
	 	(2)	 	Following the death of David H. Murdock, the trustee or trustees of a trust
created by David H. Murdock.

	(b)	 	Individuals who, as of March 23, 2001, constitute the Board of Directors of the
Corporation (the “Incumbent Board”) cease for any reason to constitute at least a majority of
the Board of Directors of the Corporation; provided, however, that any individual who becomes
a director after March 23, 2001, and whose election, or nomination for election, by the
Corporation’s shareholders was approved by a vote of at least two-thirds of the directors then
comprising the Incumbent Board, shall be considered as though such individual were a member of
the Incumbent Board, unless the individual’s initial assumption of office occurs as a result
of

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	 	 	either an actual or threatened election contest or other actual or threatened tender offer,
solicitation of proxies or consents by or on behalf of a Person other than the Board of
Directors of the Corporation.

	(c)	 	A reorganization, merger, consolidation, recapitalization, tender offer, exchange
offer or other extraordinary transaction involving Dole (a “Fundamental Transaction”) becomes
effective or is consummated, unless

	 	(1)	 	More than 50 percent of the outstanding voting securities of the surviving or
resulting entity (including, without limitation, an entity (“parent”) which as a result
of such transaction owns the Corporation or all or substantially all of the
Corporation’s assets either directly or through one or more subsidiaries) (“Resulting
Entity”) are, or are to be, Beneficially Owned, directly or indirectly, by all or
substantially all of the Persons who were the Beneficial Owners of the outstanding
voting securities of the Corporation immediately before the Fundamental Transaction
(excluding, for such purposes, any Person who is or, within two years prior to the
consummation date of such Fundamental Transaction, was, an Affiliate or Associate
(other than an Affiliate of Dole Food Company, Inc. immediately prior to such
consummation date) (as each of Affiliate and Associate are defined in Rule 12b-2
promulgated under the Exchange Act) of a party to the Fundamental Transaction) in
sbstantially the same proportions as their Beneficial Ownership, immediately before the
Fundamental Transaction, of the outstanding voting securities of the Corporation; and
	 
	 	(2)	 	More than half of the members of the board of directors or similar body of the
Resulting Entity (or its parent) were members of the Incumbent Board at the time of the
execution of the initial agreement providing for the Fundamental Transaction.

	(d)	 	A sale, transfer or any other disposition (including, without limitation, by way of
spin-off, distribution, complete liquidation or dissolution) of all or substantially all of
the Corporation’s business and/or assets (an “Asset Sale”) is consummated, unless, immediately
following such consummation, all of the requirements of Section 2.5 (c) (1) —(2), are
satisfied, both with respect to the Corporation and with respect to the entity to which such
business and/or assets have been sold, transferred or otherwise disposed of or its parent (a
“Transferee Entity”).
	 
	(e)	 	The consummation of any other significant corporate transaction determined by the
Board of Directors or the Corporate Compensation and Benefits Committee of the Board of
Directors to be a Change in Control.
	 
	(f)	 	For purposes of Section 2.5 (c) (1) and (d), the consummation or effectiveness of a
Fundamental Transaction or an Asset Sale shall not constitute a Change in Control if more than
50 percent of the outstanding voting securities of the Resulting Entity or the Transferee
Entity, as appropriate, are, or are to be, Beneficially Owned by David H. Murdock.
	 
	(g)	 	For the avoidance of doubt, the consummation of the Initial Public Offering shall
not be considered a Change of Control or Fundamental Transaction for any purpose under this
Plan. If, in the Initial Public Offering, any Person (other than David H. Murdock) becomes
the Beneficial Owner, directly or indirectly, of securities of the Corporation representing
20% or more of the combined voting power of the Corporation’s then outstanding securities, no
Change of Control shall be deemed to have then occurred, and no Change of Control shall be
deemed to occur thereafter solely as a result of such Person’s Beneficial Ownership of the
Corporation’s securities unless and until (if ever) such Person becomes the Beneficial

4

 

	 	 	Owner, directly or indirectly, of securities of the Corporation representing at least 1%
more of the combined voting power of the Corporation’s then outstanding securities than the
percentage of the Corporation’s outstanding securities Beneficially Owned by such Person
upon the consummation of the Initial Public Offering.

2.6 Code

“Code” means the Internal Revenue Code of 1986, as amended, or any other provision of law of
similar purpose as may at any time be substituted therefore.

2.7 Committee

“Committee” means the Board of Directors or a Committee of the Board of Directors acting in
accordance with Article 6.

2.8 Company or Corporation

“Company” or “Corporation” means Dole Food Company, Inc., a Delaware Corporation, and its
successors and assigns.

2.9 Compensation

“Compensation” means the Retainer and Meeting and Other Fees earned by a Participant while
he or she is an Eligible Director. Compensation paid after a Participant has a
Separation from Service is not eligible for deferral under this Plan.

2.10 Controlled Group Member

“Controlled Group Member” means any of the following:

	(a)	 	The Company:
	 
	(b)	 	Any corporation that, together with the Company, is part of a controlled group
of corporations with the meaning of Code Section 414(b); and
	 
	(c)	 	Any trade or business that, together with the Company, is under common
control, within the meaning of Code Section 

414(c).

2.11 Daily Interest Rate

“Daily Interest Rate” means the Interest Rate divided by 365. Although a daily interest is
used for calculations under the Plan, interest is compounded quarterly, not daily.

2.12 Eligible Director

“Eligible Director” means an active member of the Board of Directors who is both (a) not an
officer or employee of the Company, and (b) compensated in the capacity of a director. An
Eligible Director shall cease to qualify as an Eligible Director on the date that he or she
becomes an officer or employee of the Company even if he or she continues to render service as a
member of the Board of Directors.

2.13 Exchange Act

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time.

2.14 Grandfathered Amount

“Grandfathered Amount” means the balance in a Participant’s Account that relates to
deferrals of

5

 

Compensation with Award Dates prior to January 1, 2005, plus all interest credits attributable to
such amounts.

2.15 Initial Public Offering

Means the transactions leading up to, and including, the initial sale by the Underwriters of
the shares of the Corporation’s common stock pursuant to the Corporation’s Registration Statement
on Form S-1 filed with the Securities and Exchange Commission on August 14, 2009, as amended (the
“Form S-1”). For purposes of this definition, the term “Underwriters” shall have the meaning
ascribed thereto in that certain Underwriting Agreement attached as Exhibit 1.1 to the Form S-1,
as amended.

2.16 Interest Rate

“Interest Rate” means the annual interest rate declared by the Corporate Compensation and
Benefits Committee of the Board of Directors on or before December 31 of the Year, to be applied
in the following Year. The Interest Rate is compounded quarterly.

2.17 Meeting and Other Fees

“Meeting and Other Fees” means all meeting fees (including committee meeting fees) and other
fees (except for the Retainer) that are payable by the Company to an Eligible Director for
services as a director of the Company.

2.18 Nongrandfathered Amount

“Nongrandfathered Amount” means the balance in a Participant’s Account that relates to
deferrals of Compensation paid for services performed on or after January 1, 2005, plus all
interest credits attributable to such amounts.

2.19 Participant

“Participant” means any person who has an Account balance under this Plan.

2.20 Plan

“Plan” means the Dole Food Company, Inc. Non-Employee Directors Deferred Cash Compensation
Plan, as amended.

2.21 Retainer

“Retainer” means the annual retainer payable by the Company to an Eligible Director.

2.22 Rollover Account

“Rollover Account” means the bookkeeping account maintained by the Company on behalf of a
Participant with respect to his or her prior account balance under the Company’s 1993 Board of
Directors Deferred Compensation Plan that has been transferred to this Plan pursuant to Section
8.8.

2.23 Separation from Service

A “Separation from Service” has occurred on the earliest date after an Eligible
Director ceases to be a member of the Company’s Board of Directors and is not serving
as a member of the board of directors of any Controlled Group Member. Notwithstanding the
foregoing, an Eligible Director will have a Separation of Service for purposes of this Plan if he
or she becomes an employee of the Company or any Controlled Group Member, so long as he or she does
not serve as a member of

6

 

the board of directors for any such entity.

2.24 Year

“Year” means the calendar year.

7

 

Article 3. Participation

Each Eligible Director may elect to defer, subject to the provisions set forth in Section
4.1 of this Plan, his or her Compensation for any Year.

8

 

Article 4. Deferral Elections

4.1 Elections

	(a)	 	Time and Types of Elections.

	 	(1)	 	General Rule. On or before December 31 of each Year, each Eligible Director
may make an irrevocable election to defer all or part of his or her Compensation
(subject to Section 4.1(b) hereof) payable for services to be rendered by the
Eligible Director during the next Year.
	 
	 	(2)	 	Special Rule for Newly Eligible Directors. Any individual who first becomes
an Eligible Director and first becomes eligible to participate in the Plan during the
Year may make an irrevocable election to defer all or part of his or her Compensation
(subject to Section 4.1(b) hereof) within 30 days after election to the Board of
Directors. The election made in this Section 4.1(a)(2) only applies to Compensation
payable for services rendered after the date of the irrevocable election.

	 	A.	 	Meetings and Other Fees. Meetings and Other Fees with Award
Dates after the day that Participant’s deferral election becomes irrevocable
are eligible for deferral under this Section 4.1(a)(2).
	 
	 	B.	 	Retainer. Only the portion of the Retainer earned after the
deferral election becomes irrevocable is eligible for deferral under this
Section 4.1(a)(2). In order to calculate the amount of the Retainer eligible for
deferral under this Section 4.1(a)(2), the amount of the Retainer earned in the
quarter is multiplied by a fraction. The numerator of the fraction is the number
of days between the date that the Participant’s deferral election becomes
irrevocable (counting the day after the date that the election becomes
irrevocable as the first day of the period) and ending on the last day of the
calendar quarter. The denominator of the fraction is the number of the days in
the calendar quarter that the Eligible Director was a member of the Board of
Directors.

	 	(3)	 	Eligibility for Special Rule in Section 4.1(a)(2). The special election
period set forth in Section 4.1(a)(2) is only available to Eligible Directors who
become eligible to participate in the Plan for the first time. The following
individuals are not eligible for the special election set forth in this Section
4.1(a)(2) and are only eligible to make an election in accordance with Section
4.1(a)(1):

	 	A.	 	Individuals who terminate their service on the Board of
Directors and are re-elected or reappointed to the Board of Directors;
and
	 
	 	B.	 	Individuals who serve as non-employee directors for any
Controlled Group Member and participated in any nonqualified deferred
compensation plan sponsored by such company for the benefit of
non-employee directors that is required to be aggregated with this Plan
in accordance with Treasury Regulation section 1.409A-1(c)(2) and either:

	 	i.	 	Have an Account balance under such plan; or
	 
	 	ii.	 	Do not have an Account balance under such plan but
remained eligible to

9

 

	 	 	 	participate in such plan after the final amount was distributed from the
plan.

	(b)	 	Permitted Amounts, Elections. The portion of the Compensation subject to deferral shall be
limited to increments of 25%, 50%, 75% or 100%. All elections shall be in writing on forms
provided by the Company. If an election is made under this Section 4.1 and is not revoked or
changed by the end of the applicable deferral period with respect to the next applicable
period, the election will be deemed a continuing one.

10

 

Article 5. Deferral Accounts

5.1 Account

If an Eligible Director has made an election under Section 4.1, the Company shall establish
and maintain an Account for the Eligible Director under this Plan, which Account shall be a
memorandum Account on the books of the Company. An Eligible Director’s Account shall be credited
as follows:

	(a)	 	Compensation Deferrals. As of the Award Date, the Company shall credit the Eligible
Director’s Account with an amount equal to the portion of the Compensation for that Award
Date deferred by the Eligible Director.

	(b)	 	Interest Credits. Interest will be credited on all amounts deferred beginning on the Award
Date until the date the amount is distributed from the Plan. Interest is credited in
accordance with the provisions of this Section 5.1(b).

	 	(1)	 	Date of Crediting. Accounts will be credited quarterly, on the earlier of the
following dates:

	 	A.	 	The last day of the calendar quarter; or

	 	B.	 	The date of the Participant’s final distribution from the Plan.

	 	(2)	 	Calculation of the Interest Credit. The interest credit is calculated by
multiplying the amount of the contribution by both the Daily Interest Rate and the
number of days in which the contribution was in the Participant’s Account during
the quarter. This calculation is performed in accordance with the rules set forth
below.

	 	A.	 	Amount. For purposes of calculating interest credits, the
amounts in the Participant’s Account during the quarter are separated into
groups, and the interest credits are calculated separately for each group.
The groups are as follows:

	 	i.	 	Amounts with Award Dates on or before the last
day of the prior quarter that remain in the Participant’s Account on
the last day of the current quarter;
	 
	 	ii.	 	Amounts with Award Dates after the last day of
the prior quarter that remain in the Participant’s Account on the last
day of the current quarter (calculations for amounts with different
Award Dates are done separately);
	 
	 	iii.	 	Amounts with Award Dates on or before the
last day of the prior quarter that were distributed before the
last day of the current quarter (calculations for amounts with
different distribution dates are done separately); and
	 
	 	iv.	 	Amounts with Award Dates after the last day
of the prior quarter that were distributed before the last day of
the current quarter (calculations for amounts that do not share
both the same Award Date and distribution date are done
separately).

11

 

	 	B.	 	Days in the Participant’s Account. For each separate amount
described in Section 5.1(b)(2)(A), it must be determined how many days the
amount was in the Participant’s Account during the current quarter. The
following rules shall apply for counting the number of days:

	 	i.	 	First Day. The first day of the period
shall be the later of the first day of the current quarter or the
Award Date for the amount for which interest is being calculated.
	 
	 	ii.	 	Last Day. The last day of the period shall be
the earlier of the last day of the current quarter or the date that
the amount for which interest is being calculated is distributed from
the Plan.

5.2 Immediate Vesting

All amounts credited to one or more of a Participant’s Accounts (including any Rollover
Account) shall be fully vested at all times.

5.3 Distribution of Benefits for Grandfathered Amounts

	(a)	 	Payment Starting Date. Each Participant shall be entitled to receive
adistribution of his or her Grandfathered Amounts, including Rollover Accounts; upon his or
her termination of service on the Board of Directors. The Participant may elect to receive a
distribution of his or her Account, including Rollover Accounts, to commence upon one of the
following payment starting dates:

	 	(1)	 	His or her termination of service on the Board of Directors; or
	 
	 	(2)	 	The later of his or her termination of service on the Board of Directors or
a specified date.

	 	 	If an Eligible Director fails to elect a commencement time, benefits shall commence as
soon as practicable following termination of service on the Board of Directors.

	(b)	 	Form of Distribution. The Grandfathered Amounts payable under this plan shall be distributed
to the Participant (or, in the event of his or her death, the Participant’s Beneficiary) in a
lump sum, or, in up to five annual installments. Annual installments shall be calculated by
using the declining balance method. Calculations under the declining balance method are done
as follows:

	 	(1)	 	First Installment. To calculate the amount payable in the first
installment, the Participant’s Account balance on the first payment date is divided
by the number of installments elected by the Participant.
	 
	 	(2)	 	Remaining Installments. The remaining installments are calculated each year
by dividing the Participant’s Account balance on each anniversary of the first
payment date by the number of remaining installments (including the installment that
is being calculated).

	 	 	If the Eligible Director fails to elect a form of distribution, payments shall be
made in one lump sum.

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	(c)	 	Elections. Each Eligible Director may elect in writing on the forms provided by the
Company (i) at the time of making his or her deferral election under Article 4 or (ii)
(subject to Section 8.9) at least 12 months in advance of the date benefits become
distributable under Section 5.3(a) or, if later, by April 1, 2003, the commencement date and
method of payment for distributable Grandfathered Amounts.

	(d)	 	Distribution upon Death. If the Participant dies before receiving the entire
balance of his or her Account, the remainder will be distributed to the Participant’s
Beneficiary at the same time and in the same form as would have been paid to the Participant
had he or she lived. The Participant shall designate his or her Beneficiary in accordance with
the provisions set forth in Section 8.2. If the Beneficiary is alive on the date of the
Participant’s death but dies before all amounts are distributed, any amounts remaining in the
Participant’s Account shall be distributed to the Beneficiary’s estate as soon as practicable
after the Beneficiary’s death, but in no event later than the later of the last day of the
calendar year in which the Beneficiary’s death occurs or the day of the third month following
the month of the Beneficiary’s death.

	(e)	 	Small Amount Cash Out. Notwithstanding the foregoing, if, at any time after
termination of service, the balance remaining in a Participant’s Account is less than $5,000,
then such remaining balance shall as soon as practicable be distributed in a lump sum.

	(f)	 	Effect of Change of Control for Grandfathered Amounts. Notwithstanding Sections
5.3(a) and (b), if a Change of Control for Grandfathered Amounts has occurred or shall occur,
the Participant’s Grandfathered Amounts shall be distributed immediately in a lump sum.

5.4 Distribution of Benefits for Nongrandfathered Amounts

	(a)	 	Payment Starting Date. Each Eligible Director must elect, within the time
period for making an initial deferral election under Section 4.1(a), to receive a distribution
of his or her Nongrandfathered Amounts, including Rollover Accounts; to commence upon one of
the following payment starting dates:

	 	(1)	 	His or her Separation from Service; or
	 
	 	(2)	 	The later of his or her Separation from Service or a specified date.

	 	 	If an Eligible Director fails to elect a payment starting date, payments will start
as soon as practicable following Separation from Service. Payments shall be made as soon
as administratively practicable after the payment starting date elected by the
Participant, but in no event later than the later of the last day of the calendar year
in which the payment starting date occurs or the 15th day of the third month
following the month that includes the payment starting date.

	(b)	 	Form of Distribution. Each Eligible Director must elect, within the time period for
making an initial deferral election under Section 4.1(a), whether to receive the benefits
payable under this plan in a lump sum or in up to five annual installments. Annual
installments shall be calculated by using the declining balance method. Calculations under the
declining balance method are done as follows:

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	 	(1)	 	First Installment. To calculate the amount payable in the first
installment, the Participant’s Account balance on the first payment date is divided
by the number of installments elected by the Participant.
	 
	 	(2)	 	Remaining Installments. The remaining installments are calculated each year
by dividing the Participant’s Account balance on each anniversary of the first
payment date by the number of remaining installments (including the installment that
is being calculated).

	 	 	If the Eligible Director fails to elect a form of payment, payments shall be made in one
lump sum. Elections regarding the form of distribution cannot be changed once the
Eligible Director’s initial election period expires.

	(c)	 	Distribution upon Death. If the Participant dies before receiving the entire
balance of his or her Account, the remainder will be distributed to the Participant’s
Beneficiary at the same time (treating death as a Separation from Service) and in the same
form as would have been paid to the Participant had he or she lived. The Participant shall
designate his or her Beneficiary in accordance with the provisions set forth in Section
8.2. If the Beneficiary is alive on the date of the Participant’s death but dies before
all amounts are distributed, any amounts remaining in the Participant’s Account shall be
distributed to the Beneficiary’s estate as soon as practicable after the Beneficiary’s
death, but in no event later than the later of the last day of the calendar year in which
the Beneficiary’s death occurs or the 15th day of the third month following the
month of the Beneficiary’s death.

	(d)	 	Small Amount Cash Out. Notwithstanding the foregoing, if, at any time after
Separation from Service, the balance remaining in a Participant’s Account is less than
$5,000, then such remaining balance shall be distributed in a lump sum as soon as
practicable.

	(e)	 	Modification of Elections. The election set forth in Sections 5.4(a) above may
only be changed if the following requirements are met:

	 	(1)	 	The Participant’s written election to change his or her prior election
is received by the Committee at least 12 months before the first payment was
originally scheduled to start (if the payment was originally scheduledto start
within a specific period, the written election must be received at least 12 months
before the first day of the specified period); and
	 
	 	(2)	 	The Participant’s new payment starting date is at least five years after the
original payment starting date (if the payment was originally scheduled to start
within a specific period, the new payment starting date must be at least five years
after the first day of the specified period).

	 	 	For purposes of this Section 5.4(e), installment payments are treated as a single
payment that commences on the date of the first scheduled payment.

14

 

5.5 Company’s Right to Withhold

The Company may satisfy any state or federal tax withholding obligation arising upon
distribution of a Participant’s Accounts by reducing the amount of cash deliverable to the
Participant or Beneficiary, as the case may be. If the Company, for any reason, cannot satisfy
the withholding obligation in accordance with the preceding sentence, the Participant or
Beneficiary shall pay or provide for payment in cash of the amount of any taxes that the Company
may be required to withhold with respect to the benefits hereunder. The Company may also withhold
from any payment due to the Participant or Beneficiary any amounts owed by the Participant to the
Company as permitted by Treasury Regulation section 1.409A-3(j)(4)(xiii) or any overpayment made
under this Plan. If the Company, for any reason, cannot collect amounts owed to the Company in
accordance with the preceding sentence, the Participant or Beneficiary shall pay or provide for
payment in cash of the amount owed.

15

 

Article 6. Administration

6.1 The Administrator

The Committee hereunder shall consist of the Board of Directors or a Committee of Directors
appointed from time to time by the Board of Directors to serve as administrator of this Plan. Any
member of the Committee may resign by delivering a written resignation to the Board of Directors.
Committee members shall be deemed to have resigned on the date that they terminate their service
on the Board of Directors. Members of the Committee shall not receive any additional compensation
for administration of this Plan.

6.2 Committee Action

A member of the Committee shall not vote or act upon any matter which relates solely to
himself or herself as a Participant in this Plan. Action of the Committee with respect to the
administration of this Plan shall be taken pursuant to a majority vote or by unanimous written
consent of its members.

6.3 Rights and Duties

Subject to the limitations of this Plan, the Committee shall be charged with the general
administration of this Plan and the responsibility for carrying out its provisions, and shall
have powers necessary to accomplish those purposes, including, but not by way of limitation, the
following:

	(a)	 	To construe and interpret this Plan;

	(b)	 	To resolve any questions concerning the amount of benefits payable to a
Participant (except that no member of the Committee shall participate in a decision
relating solely to his or her own benefits);

	(c)	 	To make all other determinations required by this Plan;

	(d)	 	To maintain all the necessary records for the administration of this Plan; and

	(e)	 	To make and publish forms, rules and procedures for the administration of this
Plan.

The determination of the Committee made in good faith as to any disputed question or controversy
and the Committee’s determination of benefits payable to Participants shall be conclusive and
shall be given the maximum possible deference allowed by law. In performing its duties, the
Committee shall be entitled to rely on information, opinions, reports or statements prepared or
presented by: (i) officers or employees of the Company whom the Committee believes to be reliable
and competent as to such matters; and (ii) counsel (who may be employees of the Company),
independent Accountants and other persons as to matters which the Committee believes to be within
such persons’ professional or expert competence. The Committee shall be fully protected with
respect to any action taken or omitted by it in good faith pursuant to the advice of such
persons. The Committee may delegate ministerial, bookkeeping and other discretionary and
non-discretionary functions to individuals who are officers or employees of the Company.

16

 

6.4 Indemnity and Liability

The Company shall pay all expenses of the Committee and the Company shall furnish the
Committee with such clerical and other assistance as is necessary in the performance of its
duties. No member of the Committee shall be liable for any act or omission of any other member of
the Committee nor for any act or omission on his or her own part, excepting only his or her own
willful misconduct or gross negligence. To the extent permitted by law, the Company shall
indemnify and save harmless each member of the Committee against any and all expenses
and liabilities arising out of his or her membership on the Committee, excepting only expenses and
liabilities arising out of his or her own willful misconduct or gross negligence, as determined by
the Board of Directors.

17

 

Article 7. Plan Changes and Termination

7.1 Amendments

The Board of Directors shall have the right to amend this Plan in whole or in part from time
to time or may at any time suspend or terminate this Plan; PROVIDED, however, that, no amendment
or termination shall cancel or otherwise adversely affect in any way, without his or her written
consent, any Participant’s rights to any amounts previously credited (or that in such
circumstances would be credited) to his or her Account, including any Rollover Account.
Notwithstanding the above, the Board of Directors may amend the Plan in order to comply with
changes to the laws applicable to the Plan and to preserve the Plan’s intended tax status. Any
amendments authorized hereby shall be stated in an instrument in writing, and all Participants
shall be bound thereby.

7.2 Term

In the event that the Board of Directors decides to discontinue or terminate this Plan, it
shall notify the Committee and Participants in this Plan of its action in writing, and this Plan
shall be terminated at the time therein set forth. All Participants shall be bound thereby. In
such event, the then credited benefits of a Participant shall be distributed at the time(s) and
in the manner elected and provided under Sections 5.3 and 5.4.

18

 

Article 8. Miscellaneous

8.1 Limitation on Participants’ Rights

Participation in this Plan shall not give any person the right to continue to serve as a
member of the Board of Directors or any rights or interests other than as herein provided. No
Participant shall have any right to any payment or benefit hereunder except to the extent
provided in this Plan. This Plan shall create only a contractual obligation on the part of the
Company as to such amounts and shall not be construed as creating a trust. This Plan, in and of
itself, has no assets. Participants shall have only the rights of a general unsecured creditor of
the Company with respect to amounts credited and benefits payable, if any, on their Accounts as a
general unsecured creditor.

8.2 Beneficiaries

	(a)	 	Beneficiary Designation. Upon forms provided by and subject to conditions imposed by
the Company, each Participant may designate in writing the Beneficiary or Beneficiaries (as
defined in Section 8.2(b)) whom such Participant desires to receive any amounts payable
under this Plan after his or her death. The Company and the Committee may rely on the
Participant’s designation of a Beneficiary or Beneficiaries last filed in accordance with
the terms of this Plan.

	(b)	 	Definition of Beneficiary. A Participant’s “Beneficiary” or “Beneficiaries” shall
be the person, persons, trust or trusts (or similar entity) designated by the Participant in
the time and manner established by the Committee or, in the absence of a designation,
entitled by will or the laws of descent and distribution to receive the Participant’s
benefits under this Plan in the event of the Participant’s death, and shall mean the
Participant’s executor or administrator if no other Beneficiary is identified and able to
act under the circumstances.

8.3 Benefits Not Assignable; Obligations Binding Upon Successors

Benefits of a Participant under this Plan shall not be assignable or transferable and any
purported transfer, assignment, pledge or other encumbrance or attachment of any payments or
benefits under this Plan, or any interest therein, other than by operation of law or pursuant to
Section 8.2, shall not be permitted or recognized. Obligations of the Company under this Plan shall
be binding upon successors of the Company.

8.4 Governing Law; Severability

The validity of this Plan or any of its provisions shall be construed, administered and
governed in all respects under and by the laws of the State of California. If any provisions of
this instrument shall be held by a court of competent jurisdiction to be invalid or
unenforceable, the remaining provisions hereof shall continue to be fully effective.

8.5 Compliance with laws

This Plan shall be operated in compliance with all applicable federal and state laws, rules
and regulations (including but not limited to state and federal securities law). The Committee
shall obtain approvals from any listing, agency or any regulatory or governmental authority as
may, in the opinion of counsel for the Company, be necessary or advisable in connection
therewith.

8.6 Plan Construction

It is the intent of the Company that transactions pursuant to this Plan satisfy and be
interpreted in a manner that satisfies the applicable requirements of Rule 16b-3 promulgated
under the Exchange Act (“Rule 16b-3”) so that mandatory deferrals and, to the extent elections
are timely made, elective deferrals will be entitled to the benefits of Rule 16b-3 or other
exemptive rules

19

 

under Section 16 of the Exchange Act and will not be subjected to avoidable liability thereunder.
Any contrary interpretation shall be avoided.

8.7 Headings Not Part of Plan

Headings and subheadings in this Plan are inserted for reference only and are not to be
considered in the construction of the provisions hereof.

8.8 Relationship to the 1993 Deferred Compensation Plan

This Plan supersedes in its entirety the 1993 Board of Directors Deferred Compensation Plan
(the “1993 Plan”). Accrued balances under the 1993 Plan shall be credited to an Account under
this Plan and such balances shall thereafter be credited in accordance with the provisions of
this Plan. Payout elections under the 1993 Plan shall be conformed to the nearest equivalent
under this Plan.

8.9 Limited Exception to Irrevocability of Payout Elections for Grandfathered Amounts

A Participant may, subject to the approval of the Committee, prospectively change an
election under Section 5.3(a) by a subsequent election that will take effect at least 12 months
after the subsequent election is received by the Company if, in the opinion of Counsel to the
Company, the subsequent election would not adversely effect the

efficacy of deferrals under the Code in respect of other Participants or this Plan. The Committee
may, subject to Sections 8.5 and 8.6, permit elections that would not qualify for exemption under
Section 16(b) of the Exchange Act, so long as the availability of any exemption thereunder for
other Directors under this Plan is not compromised. This Section does not apply to
Nongrandfathered Amounts. Elections with respect to Nongrandfathered Amounts may only be changed
in accordance with the provisions of Section 5.4(e).

8.10 Permissible Delays or Accelerations

If the Company or Committee determines that a delay or an acceleration of a Participant’s payment
starting date is permitted or required by Code section 409A and related Treasury Regulations
(e.g., a delay to resolve a bona fide payment dispute or an acceleration to pay employment
taxes), the Company or the Committee may either delay or accelerate the payment starting date in
accordance with the terms of Code section 409A and related Treasury Regulations in its sole
discretion as it deems advisable. For example, upon the consummation of any significant corporate
transaction determined by the Board of Directors or the Corporate Compensation and Benefits
Committee of the Board to be a change of control, the plan may be terminated and liquidated in
accordance with Treasury Regulations section 1.409A-3(j)(4)(ix)(C), to the extent consistent with
Section 1.3(a).

20

 

	 	 	 	 	 

	Date:                                         	 	Dole Food Company, Inc.
	 
	 	 	 	 
	 

	 	By:
	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:
	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	By:
	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:
	 	 
	 

	 	 	 	 

21exv10w18

Exhibit 10.18

CHANGE OF CONTROL AGREEMENT

Name

Address

City, State

Dear Name:

This Change of Control Agreement (“Agreement”) is entered into effective this xxth day of xx, 200x,
between you and Dole Food Company, Inc. You are a key executive at Dole and an integral part of its
management. We recognize that the possibility of a change of control of Dole may result in the
departure or distraction of management to the detriment of Dole and its stockholders. We wish to
assure you of fair severance should your employment terminate in specified circumstances following
a change of control of Dole and to assure you of certain other benefits upon a change of control.
The capitalized terms used in this Agreement either are defined in the Appendices at the end of
this Agreement or otherwise are defined in the body of this Agreement. In consideration of your
continued employment with Dole and other good and valuable consideration, you and Dole agree as
follows:

1. Benefits Following Change of Control and Termination of Employment:

     (a) If, during the period beginning on the Change of Control Date and ending on the second
anniversary of the date on which the Change of Control becomes effective (a “Protected Period”),
your employment is terminated, you (or your beneficiaries, if you are deceased at the time of
payment) will receive the amounts and benefits stated in Exhibit A attached at the end of this
letter agreement, unless your employment is (i) Terminated by us for Cause or (ii) Terminated by
you other than for Good Reason, in which event, section 1(b) will control. A termination to which
this section 1(a) and Exhibit A applies is called a “Qualified Termination.” For all purposes of
this Agreement, if a Fundamental Transaction or an Asset Sale becomes effective or is consummated
that constitutes a Change of Control, you shall be deemed for all purposes of this Agreement to be
employed by the Corporation on the Change of Control Date if you were employed by the Corporation
on the later of (x) the date of the first public disclosure that an agreement with respect to such
Fundamental Transaction or Asset Sale has been entered into or (y) the date that is 270 calendar
days prior to the date on which such Fundamental Transaction or Asset Sale becomes effective or is
consummated, and the Change of Control Date shall be deemed to be such later date, if, after such
later date and prior to the date on which such Fundamental Transaction or Asset Sale becomes
effective or is consummated, your employment with Dole is either (1) Terminated by you on account
of an event or events that would constitute Good Reason if such event or events occurred after a
Change of Control Date, or (2) Terminated by us other than on account of an event or events that
would constitute Cause if such event or events occurred after a Change of Control Date.

     (b) If, during a Protected Period, your employment is (i) Terminated by us for Cause or (ii)
Terminated by you other than for Good Reason, this Agreement will terminate and our only obligation
to you under this Agreement will be the timely payment of Accrued Obligations. If your employment
is terminated because of death, we will pay the Accrued Obligations to your estate or beneficiary,
as applicable, in a lump sum in cash or equivalent within 30 days of the date on which we are first
informed of your death.

1

 

     (c) Any amount payable under this Agreement that is not paid when due will accrue interest at
the prime rate as from time to time in effect at Wells Fargo Bank, N.A., or its successors or
assigns, until paid in full.

2. Termination: For all purposes of this Agreement, if your employment is terminated
during a Protected Period (a “Termination”), the Termination will fall into one of four possible
categories: (a) Termination by us for Cause; (b) Termination by us other than for Cause; (c)
Termination by you for Good Reason; and (d) Termination by you other than for Good Reason. Any
Termination by us for Cause other than by your death, or Termination by you for Good Reason, shall
be communicated by Notice of Termination to the other party hereto given in accordance with section
16. This Agreement is intended by you and us only to define the different ways in which your
employment can terminate during a Protected Period and the exclusive consequences of that
termination in terms of payments by us. Nothing in this Agreement shall (1) be construed as
creating an express or implied contract of employment, changing your status as an employee at will,
giving you any right to be retained in the employ of Dole, or giving you the right to any
particular level of compensation or benefits nor (2) interfere in any way with the right of Dole to
terminate your employment at any time with or without Cause, subject in either case to any express
payment obligations of Dole under section 1 and Exhibit A in the case of a Termination.

3. No Mitigation of Damages; Withholding.

     (a) Your rights under this Agreement will be considered severance pay in consideration of your
past service and your continued service from the date of this Agreement. You will not have any
duty to mitigate your damages or reduce our payments to you under this Agreement by seeking future
employment. The amounts payable to you under this Agreement will not be reduced or subject to
repayment to us as a result of any compensation you may receive from future employment.

     (b) All payments required to be made by us to you under this Agreement will be subject to the
withholding of such amounts, if any, relating to tax and other payroll deductions as we may
reasonably determine we should withhold pursuant to law or regulation.

     (c) Except as set forth in Exhibit A, our obligation to make the payments provided for in this
Agreement and otherwise to perform our obligations under this Agreement will not be subject to any
set-off, counterclaim, recoupment, defense or other claim, right or action that we may have against
you.

4. Release. Notwithstanding anything to the contrary in this Agreement, our obligation to
make any payment provided for in this Agreement upon or after a termination of service (other than
as a result of your death) is expressly made subject to and conditioned upon (a) your prior
execution of a release substantially in the form of Exhibit C, attached at the end of this
Agreement, within 90 days after the date of Termination and (b) such release becoming effective and
irrevocable in accordance with its terms, within 90 days after the date of Termination. Pending
the delivery of the release and expiration of any and all applicable statutory waiting periods, no
such payment will be due hereunder.

5. Employee Covenants.

     (a) Unauthorized Disclosure. You shall not, during the term of this Agreement and
thereafter, make any Unauthorized Disclosure. For purposes of this Agreement, “Unauthorized
Disclosure” shall mean:

2

 

	 	1)	 	your disclosure (without the prior written consent of Dole)
	 
	 	2)	 	to any person (other than an employee of Dole or a Dole
subsidiary or a person to whom disclosure is reasonably necessary or
appropriate in connection with your performance of your duties as an employee
and/or officer of Dole or a Dole subsidiary)
	 
	 	3)	 	of any confidential information relating to the business or
prospects of Dole (including, but not limited to, any confidential information
with respect to any of Dole’s customers, products, methods of distribution,
strategies, business and marketing plans and business policies and practices),
	 
	 	4)	 	except (i) to the extent disclosure is or may be
required by law, by a court of law or by any governmental agency or other
person or entity with apparent jurisdiction to require you to divulge, disclose
or make available such information or (ii) in confidence to an attorney or
other advisor for the purpose of securing professional advice concerning your
personal matters provided such attorney or other advisor agrees to observe
these confidentiality provisions;
	 
	 	5)	 	provided, however, that Unauthorized Disclosure shall
not include your use or disclosure, without consent, of any information known
generally to the public or known within Dole’s trade or industry (other than as
a result of disclosure by you in violation of this section 5(a)).

This covenant has no temporal, geographical or territorial restriction.

(b) Conflict of Interest. During the period of your employment with Dole or a Dole
subsidiary, you shall not, directly or indirectly, without the prior written consent of
Dole:

	 	1)	 	own, manage, operate, join, control, be employed by, consult
with or participate in the ownership, management, operation or control of, or
be connected with (as a stockholder, partner, or otherwise),
	 
	 	2)	 	any business, individual, partner, firm, corporation or other
entity that competes, directly or indirectly, with Dole;
	 
	 	3)	 	provided, however, that your “beneficial ownership” (as
that term is defined in Rule 13d-3 under the Exchange Act), either individually
or as a member of a “group” for purposes of Section 13(d)(3) under the Exchange
Act and the regulations promulgated thereunder, of not more than two percent
(2%) of the voting stock of any publicly-held corporation shall not be a
violation of this Agreement.

(c) Non-Solicitation. During the period of your employment with Dole or a Dole
subsidiary and for a period of twenty-four (24) months following immediately thereafter (the
“Restricted Period”), you shall not, either directly or indirectly, alone or in conjunction
with another person:

3

 

	 	1)	 	interfere with or harm, or attempt to interfere with or harm,
the relationship of Dole, with any person who at any time was an employee,
consultant, supplier, licensor, licensee, contractor, agent, strategic partner,
distributor or customer of Dole or a subsidiary of Dole or otherwise had a
business relationship with Dole; or
	 
	 	2)	 	solicit, induce or recruit the employment or services of
(whether as an employee, officer, director, agent, consultant or independent
contractor), except as otherwise agreed to in writing by Dole, any individual
who, at the time of such solicitation, inducement or recruitment, was an
employee, officer, director, or individual serving as agent, consultant or
independent contractor of Dole or a subsidiary of Dole.

(d) Remedies.

	 	1)	 	You acknowledge that you have carefully read and considered all
the terms and conditions of this Agreement, including the restraints imposed
upon you pursuant to this section 5.
	 
	 	2)	 	You acknowledge that Dole hereby notifies you that each of
these restraints are necessary for the protection of the goodwill, confidential
information, trade secrets and other legitimate interests of Dole; and you
agree that each of these restraints is reasonable in respect to subject matter,
length of time and geographic area, and that these restraints will not prevent
you from obtaining other suitable employment during the period in which you are
bound by such restraints.
	 
	 	3)	 	You acknowledge that Dole hereby notifies you that any breach
of the terms of this section 5 would result in irreparable injury and damage to
Dole for which Dole would have no adequate remedy at law; and you agree that in
the event of said breach or any threat of breach, Dole shall be entitled to
seek an immediate injunction and restraining order to prevent such breach
and/or threatened breach by you and/or any and all persons and/or entities
acting for and/or with you, without having to prove damages or posting a bond,
in addition to any other remedies to which Dole may be entitled at law or in
equity. Should a court or arbitrator determine, however, that any provision of
this section 5 is unreasonable, either in period of time, geographical area, or
otherwise, the parties hereto agree that such provision should be interpreted
and enforced to the maximum extent which such court or arbitrator deems
reasonable.
	 
	 	4)	 	The provisions of this section 5 shall survive any termination
of this Agreement or your employment with Dole, and the existence of any claim
or cause of action by you against Dole, whether predicated on this Agreement or
otherwise, shall not constitute a defense to the enforcement by Dole of the
covenants and agreements of this section 5; provided, however, that this
paragraph shall not, in and of itself, preclude you from defending yourself
against the enforceability of the covenants and agreements of this section 5.

4

 

6. Indemnification: In any circumstance where, under our certificate of incorporation or
by-laws, we have the power to indemnify or advance expenses to you in respect of any judgments,
fines, settlements, losses, costs or expenses (including attorneys’ fees) of any nature relating to
or arising out of your activities as an agent, employee, officer or director of Dole or in any
other capacity on behalf of or at the request of Dole, we agree that, if you have undergone a
Qualified Termination, we will promptly, on written request, indemnify and advance expenses to you
to the fullest extent permitted by applicable law, including but not limited to making such
findings and determinations and taking any and all such actions as we may, under applicable law, be
permitted to have the discretion to take so as to effectuate such indemnification or advancement.
Such agreement by Dole will not be deemed to impair any other obligation of Dole respecting
indemnification of you otherwise arising out of this or any other agreement or promise of Dole or
under our certificate of incorporation or by-laws.

7. Binding Agreement. This Agreement will be binding upon and inure to the benefit of you
and Dole and will be enforceable by your personal or legal representatives or successors. If you
die during a Protected Period while any amounts would still be payable to you under this Agreement
at the time of your death, then such amounts will be paid to your estate, or such rights will
remain exercisable by your estate, respectively, in accordance with the terms of this Agreement.
This Agreement will not otherwise be assignable by you.

8.
Successors. This Agreement will inure to and be binding upon
Dole ’s successors,
including, without limitation, any successor to all or substantially
all of Dole ’s business and/or
assets. Dole will require any such successor to all or substantially all of the business and/or
assets of Dole by sale, transfer, merger (where Dole is not the surviving corporation),
consolidation, recapitalization, reorganization, lease, distribution, spin-off or otherwise, to
expressly assume in writing this Agreement, unless it is assumed by operation of law. This
Agreement will not otherwise be assignable by Dole.

9. Arbitration. Any controversy or claim arising out of or relating to this Agreement, or
the breach thereof, will be submitted to final and binding arbitration, to be held in Los Angeles
County, California, before a single arbitrator, in accordance with California Civil Procedure Code
§§ 1280 et seq. The arbitrator will be selected by mutual agreement of you and us or, if you and
we cannot agree, then by striking from a list of arbitrators supplied by the American Arbitration
Association. The arbitrator will issue a written opinion revealing, however briefly, the essential
findings and conclusions upon which the arbitrator’s award is based. Judgment upon the award
rendered by the arbitrator(s) may be entered in any court having jurisdiction. We will pay the
arbitrator’s fees and arbitration expenses and any other costs associated with the arbitration
hearing. You and we will each bear our respective deposition, witness, expert and attorneys’ fees
and other expenses as and to the same extent as if the matter were being heard in court. If,
however, any party prevails on a statutory claim that affords the prevailing party attorneys’ fees
and costs, or if there is a written agreement providing for fees and costs, then the arbitrator
will award reasonable fees to the prevailing party in accordance with the statute or the written
agreement, as appropriate. Any dispute as to the reasonableness of any fee or cost will be
resolved by the arbitrator. Nothing in this section 9 will affect your or our ability to seek from
a court injunctive or equitable relief.

10. Confidentiality. Except as may be necessary to enter or execute judgment upon an
arbitration award or to the extent required by applicable law, all claims, defenses and proceedings
(including, without limitation, the existence of a controversy, the fact that there is an
arbitration proceeding and the content of the pleadings, papers, orders, hearings, trials or awards
in the arbitration) will be treated in a confidential manner by the arbitrator, the parties and
their counsel, each of their agents and employees

5

 

and all others acting on behalf of or in concert with them. Any controversy relating to the
arbitration, including, without limitation, any action to prevent or compel arbitration or to
confirm, correct, vacate or otherwise enforce an arbitration award, will be filed under seal with
the court, to the extent permitted by law.

11. Restraint on Alienation. None of your benefits, payments, proceeds or claims under
this Agreement will be subject to any claim of any creditor and, in particular, the same will not
be subject to attachment or garnishment or other legal process by any creditor, nor will you have
any right to alienate, anticipate, commute, pledge, encumber or assign any of the benefits or
payments of proceeds that you may expect to receive, contingently or otherwise, under this
Agreement. Notwithstanding the preceding sentence, benefits that are in pay status may be subject
to a garnishment or wage assignment or authorized or mandatory deductions made pursuant to a court
order, a tax levy or applicable law or your elections.

12. Termination Prior to Change of Control Date. Notwithstanding section 15, but subject
to the last sentence of section 1(a), if, prior to the first Change of Control Date, your
employment with Dole terminates, then all of your rights under this Agreement terminate, and this
Agreement will be deemed to have been terminated on the date of your termination.

13. Strict Compliance; Severability; Integration. Your or our failure to insist upon
strict compliance with any provision of this Agreement or the failure to assert any right you or
Dole may have hereunder, including, without limitation, your right to terminate for Good Reason or
our right to terminate for Cause, will not be deemed to be a waiver of such provision or right with
respect to any subsequent lack of compliance, or of any other provision of or right under this
Agreement. The invalidity or unenforceability of any provision of this Agreement will not affect
the validity or enforceability of any other provision of this Agreement. This Agreement contains
the entire agreement between you and Dole with respect to the subject matter hereof and supersedes,
with respect to the subject matter hereof, all prior or contemporaneous agreements, understandings
and negotiations, whether oral or written, between you and Dole, including without limitation any
employment agreement, change of control agreement, offer letter or other agreement, if any; and any
such employment agreement, change of control agreement, offer letter or other agreement, if any,
shall be null and void to the extent it provides for any payment or benefit to you contingent upon
the occurrence (alone or with other events) of a Change of Control or an event that is otherwise
deemed to be comprehended by the term “change of control.” You and Dole acknowledge and agree that
no representations, inducements, promises or agreements, orally or otherwise, have been made by you
or Dole regarding the subject matter hereof that are not contained in this Agreement, and that no
other agreement, statement or promise not contained herein shall be valid or binding with respect
to the subject matter hereof.

14. Choice of Law: This Agreement is made in, and will be governed by, the laws of the
State of California, without regard to the choice of laws or conflict of laws principles or rules
of the State of California or of any other jurisdiction.

15. Modification or Termination of this Agreement: After the first Change of Control Date,
this Agreement may only be modified or terminated by a writing signed by both you and us. Before
the first Change of Control Date, we may unilaterally modify or terminate this Agreement, but such
unilateral modification or termination will not be effective until the second anniversary of the
date on which we first give you express written notice of the unilateral modification or
termination (the “Modification Effective Date”); provided, however, that the unilateral
modification or termination shall never become effective if (1) a Change of Control Date occurs
before the Modification Effective Date and (2) your employment is terminated during the Protected
Period in respect of such Change of Control Date.

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Nothing in this section 15 shall in any way eliminate, diminish or restrict the effect of section
12. This Agreement shall continue in full force and effect until it is terminated in accordance
with the terms of this Agreement.

16. Notices. All notices and other communications under this Agreement must be in writing
and must be given by hand delivery to the other party, by reputable overnight courier or by
registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

If to you:

Name

Address

City, State

If to Dole:

Dole Food Company, Inc.

One Dole Drive

Westlake Village, California 91362-7300

Attention: President

with a copy to:

Dole Food Company, Inc.

One Dole Drive

Westlake Village, California 91362-7300

Attention: General Counsel

or to such other address as either party will have furnished to the other in writing in accordance
herewith. Notice and communications will be effective when actually received by the addressee.

17. Section 409A Compliance.

     (a) The parties agree that this Agreement is intended to comply with the requirements of
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations and
guidance promulgated thereunder (“Section 409A”) or an exemption from Section 409A. The Agreement
shall be administered and interpreted so as to avoid a “plan failure” within the meaning of Code
Section 409A. However, no guarantee or commitment is made that the Agreement shall be administered
in accordance with the requirements of Code Section 409A, with respect to amounts that are subject
to Section 409A, or that it shall be administered in a manner that avoids the application of Code
Section 409A, with respect to amounts that are not subject to Section 409A.

     (b) A termination of employment shall not be deemed to have occurred for purposes of any
provision of this Agreement providing for the payment of any amounts or benefits upon or following
a termination of employment unless such termination is also a “separation from service” within the
meaning of Section 409A and, for purposes of any such provision of this Agreement, references to a
“termination,” “termination of employment” or like terms shall mean “separation from service.” If
you are deemed on the date of termination to be a “specified employee” within the meaning of that
term under Section 409A(a)(2)(B) of the Code, then with regard to any payment or the provision of
any benefit (whether under this Agreement or otherwise) that is considered deferred compensation
under Section 409A payable on account of a “separation from service,” and that is not exempt from

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Section 409A as involuntary separation pay or a short-term deferral (or otherwise), such payment or
benefit shall be made or provided at the date which is the earlier of (i) the expiration of the six
(6)-month period measured from the date of your “separation from service” or (ii) the date of your
death (the “Delay Period”). Upon the expiration of the Delay Period, all payments and benefits
delayed pursuant to this section 17(b) (whether they would have otherwise been payable in a single
sum or in installments in the absence of such delay) shall be paid or reimbursed to you in a lump
sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in
accordance with the normal payment dates specified for them herein.

     (c) With regard to any provision herein that provides for reimbursement of costs and expenses
or in-kind benefits, except as permitted by Section 409A of the Code, all such payments shall be
made on or before the last day of calendar year following the calendar year in which the expense
occurred.

     (d) Each payment made under this Agreement shall be treated as a “separate payment” within the
meaning of Section 409A.

Please indicate your acceptance of and agreement to the terms of this Change of Control Agreement
by signing and dating below, where indicated, and returning a signed copy to us.

	 	 	 	 	 

	Sincerely,	 	 
	 
	 	 	 	 
	DOLE FOOD COMPANY, INC.	 	 
	 
	 	 	 	 
	 	 	 
	[Title]	 	 
	 
	 	 	 	 
	 	 	 
	[Title]	 	 
	 
	 	 	 	 
	Agreed and Accepted:	 	 
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	Date:	 	 
	 

	 	 

	 	 

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APPENDIX 1

Definitions

“Accrued Obligations” shall mean the sum of (1) your annual base salary through the date of
Termination to the extent not theretofore paid and (2) any compensation previously deferred by you
(together with any accrued interest or earnings thereon) pursuant to outstanding elections and/or
any accrued vacation pay or paid time off, in each case to the extent not theretofore paid;
provided, that if your employment is Terminated by us for Cause, other than your death, the date of
Termination, for purposes of this definition of Accrued Obligations, shall be deemed to be the date
on which Notice of Termination was given. For the avoidance of doubt, and notwithstanding any
other provision in this Agreement, “Accrued Obligations” shall not include benefits payable under
the Dole Food Company, Inc. Excess Savings Plan, the Dole Food Company, Inc. Supplementary
Executive Retirement Plan, Non-Employee Directors Deferred Cash Compensation Plan or any
predecessor or successor to either plan.

“Affiliate” shall have the meaning ascribed in Rule 12b-2 promulgated under the Exchange Act.

“Associate” shall have the meaning ascribed in Rule 12b-2 promulgated under the Exchange Act.

“Change of Control” shall have the meaning set forth in Appendix 2.

“Change of Control Date” shall mean the first date after the date of this Agreement on which a
Change of Control occurs, except as set forth in the last sentence of section 1(a).

“Disability” shall have the meaning ascribed to such term in your governing long-term disability
plan, or if no such plan exists, shall mean your absence from, or inability to perform duties for,
Dole on a full-time basis for 90 consecutive business days or 120 business days in any period of
180 business days as a result of mental or physical illness or injury that is total and permanent,
as determined by a physician selected by us or our insurers and acceptable to you or your legal
representative (such agreement as to acceptability not to be withheld unreasonably) and that is not
susceptible to reasonable accommodation.

“Notice of Termination” shall mean a written notice which (1) indicates the specific termination
provision in this Agreement relied upon, and (2) to the extent applicable, sets forth in reasonable
detail the facts and circumstances claimed to provide a basis for termination of your employment
under the provision so indicated.

“Termination by us for Cause,” “Terminated by us for Cause” and “Cause” shall mean Dole’s
termination of your employment with Dole (during a Protected Period) pursuant (except under clause
(e), below, in which case Dole need not send a Notice of Termination) to a Notice of Termination
given within 120 days following our becoming aware of the occurrence of any one or more of the
following to the extent (in the case of clause (b) or (c) if remediable) not remedied in a
reasonable period of time after receipt by you of written notice from us specifying such occurrence
(any termination of your employment by Dole that is not a Termination by us for Cause will be
deemed to be a “Termination by us other than for Cause”):

	 	(a)	 	You are convicted of, or plead guilty or nolo contendere to, a felony;

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	 	(b)	 	You commit an act of gross misconduct in connection with the performance of
your duties;
	 
	 	(c)	 	You demonstrate habitual negligence in the performance of your duties;
	 
	 	(d)	 	You commit an act of fraud, misappropriation of funds or embezzlement in
connection with your employment by Dole;
	 
	 	(e)	 	Your death; or
	 
	 	(f)	 	Your Disability.

Notwithstanding the foregoing, you shall not be deemed to have been Terminated by us for Cause
under clauses (b) — (d) or (f) until the later to occur of (i) the 30th day after Notice of
Termination is given and (ii) the delivery to you of a certified copy of a resolution duly adopted
by the affirmative vote of not less than a majority of the total number of our directors at a
meeting duly called and held (after reasonable notice to you), and at which you, together with your
counsel, were given an opportunity to be heard, finding that one or more of the events described in
clauses (b) — (d) or (f) above occurred, and specifying the particulars thereof in detail;
provided, however, we may suspend you and withhold payment of your base salary, other compensation
and benefits from the date that Notice of Termination is given until the earliest to occur of (i)
Termination by us for Cause effected in accordance with the foregoing procedures (in which case you
shall not be entitled to your base salary, other compensation or benefits for such period), (ii) a
determination by a majority of our directors that none of the events described in clauses (b) —
(d) or (f) above occurred (in which case you shall be reinstated and paid any of your previously
unpaid base salary, other compensation and benefits for such period), or (iii) the 90th day after
Notice of Termination is given (in which case you shall be reinstated and paid any of your
previously unpaid base salary, other compensation and benefits for such period).

“Termination by you for Good Reason” “Terminated by you for Good Reason” and “Good Reason” means
your resignation of employment with Dole (during the Protected Period) within 120 days following
the occurrence of one or more of the following to the extent not remedied in a reasonable period of
time after receipt by Dole of written notice from you specifying such occurrence, without your
express written consent (any termination of your employment by you that is not a Termination by you
with Good Reason will be deemed to be a “Termination by you other than for Good Reason”):

     (a) Whether direct or indirect, a significant diminution of your authority, duties,
responsibilities or status inconsistent with and below those held, exercised and assigned in the
ordinary course during the 90 day period immediately preceding the Change of Control Date,
excluding any such significant diminution that (i) begins prior, and ends on or prior, to the date
on which a Fundamental Transaction or Asset Sale becomes effective or is consummated that
constitutes a Change of Control, and (ii) results from the affirmative and negative pre-closing
operating covenants applicable to Dole contained in the definitive transaction agreements providing
for such Fundamental Transaction or Asset Sale.

     (b) The assignment to you of duties that are inconsistent (in any significant respect) with,
or that impair (in any significant respect) your ability to perform, the duties customarily
assigned to an executive holding the position you held immediately prior to the Change of Control
Date in a corporation of the size and nature of Dole, or, if you were employed prior to termination
by a Subsidiary

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or business unit of the Corporation, in a subsidiary or business unit of the size and nature
of the Subsidiary or business unit of the Corporation in which you were employed;

     (c) Relocation of your primary office more than 35 miles from your current office on the
Change of Control Date;

     (d) Any material breach by us of this Agreement or any other agreement with you;

     (e) The failure of a successor to Dole (in any transaction that constitutes a Change of
Control), to assume in writing our obligations to you under this Agreement or any other agreement
with you, if the same is not assumed by such successor by operation of law;

     (f) Any reduction in your base salary below your base salary in effect on the Change of
Control Date (or if your base salary was reduced within 180 days before the Change of Control Date,
the base salary in effect immediately prior to such reduction); or

     (g) The failure of Dole or any successor to continue in effect any equity-based or non-equity
based incentive compensation plan (whether annual or long-term) in effect immediately prior to the
Change of Control Date, or a non de minimis reduction, in the aggregate, in your participation in
any such plans (based upon (1) in the case of equity based plans, the average grant date fair value
of your awards under such plans over the three years preceding the Change of Control Date (or such
lesser period following the Dole’s initial public offering that you were employed by Dole or any
successor) or (2) in the case of non-equity based plans, your target award under such plans for the
performance period in which the Change of Control Date occurs), unless you are afforded the
opportunity to participate in an alternative incentive compensation plan of reasonably equivalent
value; provided that a reduction in the aggregate value of your participation in any such plans of
not more than 5% in connection with across-the-board reductions or modifications affecting all
executives with Change of Control Agreements containing terms substantially identical to your
Agreement shall not constitute Good Reason (all determinations under this clause (g) shall be made
in good faith by the corporate compensation and benefits committee of the board of directors of
Dole or any successor in its sole discretion); or

     (h) Any reduction in the aggregate value of benefits provided to you, as in effect on the
Change of Control Date; provided that a reduction in the aggregate value of benefits of not more
than 5% in connection with across-the-board reductions or modifications affecting all executives
with Change of Control Agreements containing terms substantially identical to your Agreement shall
not constitute Good Reason. All determinations under this clause (h) shall be made in good faith
by the corporate compensation and benefits committee of the board of directors of Dole or any
successor in its sole discretion. As used herein, “benefits” shall include all deferred
compensation, retirement, pension, health, medical, dental, disability, insurance, automobile, and
similar benefits.

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APPENDIX 2

Additional Definitions

“Change of Control” shall be deemed to occur if and as of the first day that any one or more of the
following conditions are satisfied, whether accomplished directly or indirectly, or in one or a
series of related transactions:

     (1) any “Person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”)), other than (a) David H. Murdock or (b) following the
death of David H. Murdock, the trustee or trustees of a trust created by David H. Murdock, becomes
the “Beneficial Owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly,
of securities of the Corporation representing 20% or more of the combined voting power of the
Corporation’s then outstanding securities;

     (2) individuals who, as of the date hereof, constitute the Board of Directors of the
Corporation (the “Incumbent Board”) cease for any reason to constitute at least a majority of the
Board; provided, however, that any individual who becomes a director subsequent to the date hereof
whose election, or nomination for election by the Corporation’s stockholders, was approved by a
vote of at least two-thirds of the directors then comprising the Incumbent Board shall be
considered as though such individual were a member of the Incumbent Board, unless the individual’s
initial assumption of office occurs as a result of either an actual or threatened election contest
or other actual or threatened tender offer, solicitation of proxies or consents by or on behalf of
a Person other than the Board;

     (3) a reorganization, merger, consolidation, recapitalization, tender offer, exchange offer or
other extraordinary transaction involving Dole (a “Fundamental Transaction”) becomes effective or
is consummated, unless: (a) more than 50% of the outstanding voting securities of the surviving or
resulting entity (including, without limitation, an entity (“parent”) which as a result of such
transaction owns the Corporation or all or substantially all of the Corporation’s assets either
directly or through one or more subsidiaries) (“Resulting Entity”) are, or are to be, Beneficially
Owned, directly or indirectly, by all or substantially all of the Persons who were the Beneficial
Owners of the outstanding voting securities of the Corporation immediately prior to such
Fundamental Transaction (excluding, for such purposes, any Person who is or, within two years prior
to the consummation date of such Fundamental Transaction, was, an Affiliate or Associate (other
than an Affiliate of Dole Food Company, Inc. immediately prior to such consummation date) (as each
of Affiliate and Associate are defined in Rule 12b-2 promulgated under the Exchange Act) of a party
to the Fundamental Transaction) in substantially the same proportions as their Beneficial
Ownership, immediately prior to such Fundamental Transaction, of the outstanding voting securities
of the Corporation and (b) more than half of the members of the board of directors or similar body
of the Resulting Entity (or its parent) were members of the Incumbent Board at the time of the
execution of the initial agreement providing for such Fundamental Transaction;

     (4) A sale, transfer or any other disposition (including, without limitation, by way of
spin-off, distribution, complete liquidation or dissolution) of all or substantially all of the
Corporation’s business and/or assets (an “Asset Sale”) is consummated, unless, immediately
following such consummation, all of the requirements of clauses (3)(a) and (3)(b) of this
definition of Change of Control are satisfied, both with respect to the Corporation and with
respect to the entity to which such business and/or assets have been sold, transferred or otherwise
disposed of or its parent (a “Transferee Entity”) ; or

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     (5) Any other significant corporate transaction determined by the Board of Directors of Dole
or the Corporate Compensation and Benefits Committee of the Board of Directors of Dole to be a
change of control for purposes of this Agreement.

The consummation or effectiveness of a Fundamental Transaction or an Asset Sale shall be deemed not
to constitute a Change of Control if more than 50% of the outstanding voting securities of the
Resulting Entity or the Transferee Entity, as appropriate, are, or are to be, Beneficially Owned by
David H. Murdock. For the avoidance of doubt, the consummation of the initial public offering of
the Corporation’s common stock shall not be considered a Change of Control or Fundamental
Transaction for any purpose under this Agreement.

“Corporation” shall mean Dole Food Company, Inc., a Delaware corporation, and its successors. For
purposes of this definition of Corporation, after the consummation of a Fundamental Transaction or
an Asset Sale, the term “successor” shall include, without limitation, the Resulting Entity or
Transferee Entity, respectively.

“Dole” shall mean the Corporation and/or its Subsidiaries.

“Subsidiary” shall mean any corporation or other entity a majority or more of the outstanding
voting stock or voting power of which is beneficially owned directly or indirectly by the
Corporation.

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Exhibit A

Amount of Severance Pay and Benefits Following Qualified Termination

If a Qualified Termination occurs, Dole will pay you (except as provided below) the following, no
later than 90 calendar days after the date of Termination (or 90 days after the Change of Control
becomes effective or is consummated, if you have a Qualified Termination pursuant to the last
sentence of section 1(a) of the Agreement):

     (a) An amount in cash equal to three times your annual base salary as of the date of
Termination (or if your annual base salary was reduced within 180 days before the Change of Control
Date, the annual base salary in effect immediately prior to such reduction);

     (b) An amount in cash equal to three times your target bonus as of the date of Termination (or
if your target bonus was reduced within 180 days before the Change of Control Date, the target
bonus in effect immediately prior to such reduction);

     (c) An amount in cash equal to three times $10,000, in lieu of any other health and welfare
benefits (including medical, life, disability, accident and other insurance, car allowance or other
health and welfare plans, programs, policies or practices or understandings) and other taxable
perquisites and fringe benefits to which you or your family may have been entitled.

     (d) An amount in cash equal to the pro rata portion of the greater of (i) your target benefits
under our long term incentive plan (the “LTIP”) and (ii) your actual benefits under the LTIP;

     (e) If, at the time of your Qualified Termination, you would have been eligible for a benefit
under either (i) the Dole Food Company Supplementary Executive Retirement Plan Effective January 1,
1989, as amended and restated through the date of this Change of Control Agreement (“SERP”) or (ii)
a Defined Benefit Plan (as defined in the SERP) were it not for the requirement of at least five
(5) years of service with Dole, an amount in cash will be payable to you equal to the actuarial
equivalent of such retirement benefit. If for any reason, a benefit is payable under the Defined
Benefit Plan, the payments made to you under this clause shall be reduced by the actuarial
equivalent of such benefits payable under the Defined Benefit Plan.

     (f) An amount in cash equal to the aggregate amount of the Accrued Obligations;

     (g) An amount in cash equal to the pro rata portion of your target annual bonus for the fiscal
year in which the date of Termination occurs; and

     (h) An amount in cash equal to any reimbursement for outstanding reimbursable expenses.

“Pro rata portion” in clauses (d) and (g), above, means pro rata with respect to the portion of the
relevant time period that has elapsed prior to the date of Termination.

If a Qualified Termination occurs pursuant to the last sentence of section 1(a) of the Agreement,
then, notwithstanding anything to the contrary provided in any plans or agreements of Dole pursuant
to which you were granted options to purchase shares of Dole’s common stock, any period of time set
forth in such plans or agreements in which you must exercise your options shall not begin to run
until the earlier to occur of (x) the consummation or effectiveness of the Fundamental Transaction
or the Asset Sale and (y) 270 days after the date of Termination.

Notwithstanding anything to the contrary provided in any plans or agreements of Dole pursuant to
which you were granted options to purchase shares of Dole’s common stock and/or other equity-based
compensation awards,

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all of your unvested options and/or other equity-based compensation awards granted pursuant to such
plans or agreements (whenever granted) shall be deemed to vest immediately prior to the first time
that one or both of the following conditions are satisfied: (i) a Change of Control occurs and the
acquiring or surviving company in the transaction does not assume or continue your outstanding
awards in connection with the Change of Control; or (ii) a Qualified Termination occurs, and
neither the Board of Directors of Dole nor any committee thereof nor any other Person shall have
any discretion, right or power whatsoever to block, delay or impose any condition upon such
vesting. For the avoidance of doubt and not by way of limitation of the foregoing, if a Qualified
Termination occurs pursuant to the last sentence of section 1(a) of this Agreement, all of your
unvested options and/or other equity-based compensation awards shall vest hereunder immediately
prior to the effectiveness or consummation of the Fundamental Transaction or the Asset Sale but not
at any earlier time.

We will furnish you for six years following your Qualified Termination with Directors and Officers
Insurance, or other liability insurance as is reasonable and customary, insuring you against all
insurable events arising from or relating to alleged acts or omissions pertaining in any way to
your activities as an agent, employee, officer or director of Dole or in any other capacity on
behalf of or at the request of Dole, such insurance to have policy limits aggregating not less than
$40 million and otherwise to be in substantially the same form and to contain substantially the
same terms, conditions and exceptions as the liability insurance policies provided for Directors
and Officers of Dole in force from time to time, provided that such terms, conditions and
exceptions will not be, in the aggregate, materially less favorable to you than those in effect on
the date of this Agreement and provided that such insurance can be obtained on commercially
reasonable terms.

Your severance pay and benefits listed above and/or those provided to you under other agreements,
plans or arrangements with Dole, are subject to adjustment as provided in Exhibit B. The
adjustments are related to special taxes that may be imposed on you and/or us if the severance
amounts and benefits you receive constitute so-called “excess parachute payments” under the tax
laws. These tax laws and the IRS rules and regulations that implement the laws are highly complex,
so we will not attempt to summarize them for you.

In the event that you have an employment contract or any other agreement with Dole or participate
in any other plan or program that entitles you to severance payments upon the termination of your
employment with Dole, the amount of any such severance payments will be deducted from the payments
to be made to you under this Agreement. All benefits under this Agreement also will be reduced by
the amount paid to you under any United States, foreign or state statute, law, rule or regulation
that requires a formal notice period, pay in lieu of notice (including but not limited to WARN Act
payments), termination, indemnity, severance payments or similar payments or entitlements related
to service, other than unemployment or social security benefits provided in the United States.
Notwithstanding the foregoing provisions of this paragraph, the benefit reductions described
in this paragraph shall only apply to the extent consistent with Section 409A and authoritative IRS
guidance thereunder.

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Exhibit B

Adjustment to Severance Pay and Benefits

     1. Adjustments. If any payment or benefit due under this Agreement, together with all
other payments and benefits (including, without limitation, the acceleration of vesting of stock
options and/or other equity-based compensation awards) to which you are entitled from Dole, or any
affiliate thereof, would (if paid or provided) constitute an “excess parachute payment” (as defined
in Section 280G(b)(1) of the Code), the amounts otherwise payable and benefits otherwise due under
this Agreement will either (i) be delivered in full, or (ii) be limited to the minimum extent
necessary to ensure that no portion thereof will fail to be tax-deductible to Dole by reason of
Section 280G of the Code, whichever of the foregoing amounts, taking into account the applicable
federal, state or local income and employment taxes and the excise tax imposed under Section 4999
of the Code, results in your receipt, on an after-tax basis, of the greatest amount of benefits,
notwithstanding that all or some portion of such benefits may be subject to the excise tax imposed
under Section 4999 of the Code. In the event that the payments and/or benefits are to be reduced
pursuant to this Exhibit B, such payments and benefits shall be reduced such that the reduction of
compensation to be provided to you as a result of this Exhibit B is minimized. In applying this
principle, the reduction shall be made in a manner consistent with the requirements of Section 409A
of the Code and where two economically equivalent amounts are subject to reduction but payable at
different times, such amounts shall be reduced on a pro rata basis but not below zero.

     2. Determinations. All determinations required to be made under this Exhibit B,
including without limitation the determination of whether any payment or benefit would result in a
loss of a deduction by reason of Section 280G, the calculation of the value of any such payment or
benefit and whether any payment or benefit constitutes reasonable compensation, will be made, at
our option, by Dole’s independent auditors or a nationally recognized executive compensation
consulting firm (the “Accounting Firm”). The Accounting Firm will provide detailed supporting
calculations both to Dole and you within 15 business days of the receipt of notice from you that
there has been a payment that could constitute an excess parachute payment, or such earlier time as
is requested by Dole. If the Accounting Firm is serving as accountant or auditor for the Person
effecting the Change of Control, Dole will appoint another nationally recognized accounting firm to
make these required determinations (which accounting firm will then be referred to as the
Accounting Firm). All fees and expenses of the Accounting Firm will be borne solely by Dole. Any
such determinations by such accounting firm will be binding on you and Dole.

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Exhibit C

Form of General Release Agreement

THIS GENERAL RELEASE AGREEMENT (this “Agreement”), by and between                      (the “Executive”)
and Dole Food Company, Inc., and its subsidiary and affiliate corporations (collectively, the
“Company”), with reference to the following facts:

     1. Date of Termination. Executive’s employment with the Company will be terminated
effective                     , ____ (“date of Termination”).

     2. Payment Contingent upon Release. Executive understands that Company’s obligation
to make the payments provided for in the Change of Control Agreement dated as of __________, _____
(the “Change of Control Agreement”) between Executive and the Company, is conditioned upon
Executive’s execution of this release within 90 days after the date of Termination and
non-revocation of this release in accordance with the terms hereof.

     3. Payment Amount. Executive further understands that by signing this Agreement,
Company shall pay Executive a lump sum payment of ______________, less payroll and other deductions
required by law and authorized by the terms of the Change of Control Agreement.

     4. Return of Company Property. Executive shall immediately return to the Company all
property of the Company, including computer and other electronic equipment, computer passwords,
telephones, pagers, etc., in his possession or control.

     5. Satisfaction and Release of All Obligations Owed. Except for those obligations
created by this Agreement, and except as provided below, Executive understands and agrees that, by
signing this Agreement, Executive acknowledges full and complete satisfaction of and is releasing
and discharging and promising not to sue the Company, its divisions, subsidiaries, affiliates, past
and present and each of them as well as its and their directors, officers, stockholders,
representatives, assignees, successors, agents and Executives, past and present, and each of them
(individually and collectively, “Releasees”), from and with respect to any and all claims, wages,
stock, vacation pay, paid time off, bonuses, employee benefits, separation pay, or any other
compensation, employment perquisites or benefits, demands, rights, liens, agreements, suits,
obligations, debts, costs, expenses, attorneys’ fees, damages, judgments, orders and liabilities of
any kind, known or unknown, suspected or unsuspected, and whether or not concealed or hidden,
arising out of or in any way connected with Executive’s employment with, or the termination of
Executive’s employment with, the Company, including but in no way limited to any act or omission
committed or omitted prior to the date of execution of this Agreement. This includes but is in no
way limited to any claim under Title VII of the Civil Rights Act of 1964, the Age Discrimination in
Employment Act of 1967, as amended (“ADEA”), the Executive Retirement Income Security Act of 1974
(except for vested benefits, if any), the Americans with Disabilities Act, California Fair
Employment and Housing Act, or any other foreign law, federal, state or local law, regulation,
constitution or ordinance. Nothing in this release shall affect Executive’s ability to pursue
COBRA rights, and Company acknowledges the Executive will pursue his election to convert coverages
as permitted under COBRA. Further, nothing in this Release shall affect Executive’s rights under
any qualified retirement plans, supplemental retirement plans, deferred compensation plans or stock
incentive plans of the Company, and Executives rights under such plans shall be governed by the
terms of such plans.

     6. Release of Liability Related to Termination. Except for those obligations created
by this Agreement, and except as provided below, the Company hereby acknowledges full and complete
satisfaction of and releases and discharges and covenants not to sue Executive from and with
respect to any and all claims, demands, rights, liens, agreements, suits, obligations, debts,
costs, expenses, attorneys’ fees, damages, judgments, orders and liabilities of any kind, known or
unknown, suspected or unsuspected, and whether or not concealed or hidden, arising out of or in any
way connected with

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Executive’s employment with, or the termination of Executive’s employment with, the Company,
including but in no way limited to any act or omission committed or omitted prior to the date of
execution of this Agreement, provided however, that this general release of Executive shall not
extend to any claims against Executive which arise out of facts which are finally adjudged by a
court of competent jurisdiction to be a willful breach of fiduciary duty or a crime under any
federal, state, or local statute, law, ordinance or regulation. At this time, no such claim exists
to the Company’s knowledge.

     7. Covenants. The parties covenant and affirm that neither of them has caused or
permitted to be filed any claim, charge, suit, complaint, action, cause of action, or proceeding of
any kind in any forum against the Releases or the Executive. The parties further covenant and
affirm that they have not made any assignment and will make no assignment of any claims, demands or
causes of action released herein and will not file, refile, initiate, or cause to be filed,
refilled or initiated any claim, charge, suit, complaint, action or cause of action based upon,
arising out of, or relating to any claim, demand, or cause of action released herein, nor shall the
parties participate, assist or cooperate in any claim, charge, suit, complaint, action or
proceeding regarding the Releasees or the Executive, whether before a court, administrative agency,
arbitrator or other tribunal, unless required to do so by law.

     8. Waiver of Section 1542. Except as provided in this Agreement, it is both parties’
intention in signing this Agreement that it should be effective as a bar to each and every claim,
demand and cause of action stated above. In furtherance of this intention, each party hereby
expressly waives any and all rights and benefits conferred upon it by the provisions of Section
1542 of the California Civil Code or any similar law in any other jurisdiction. Section 1542
provides: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT
TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER
MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”

     9. Waiver of ADEA Rights. Executive understands and agrees that, by signing this
Agreement, Executive is waiving any and all rights or claims that Executive may have arising under
the ADEA, which have arisen on or before the date of execution of this Agreement. Executive
further understands and agrees that (i) in return for this Agreement, Executive will receive
compensation beyond that which Executive was already entitled to receive before entering into this
Agreement, (ii) Executive is hereby advised in writing by this Agreement to consult with an
attorney before signing this Agreement, (iii) Executive has been provided a full and ample
opportunity to study this Agreement, including a period of at least twenty-one (21) days, within
which to consider it, (iv) to the extent that Executive takes less than twenty-one (21) days within
which to consider this Agreement prior to execution, Executive acknowledges that he has had
sufficient time to consider this Agreement with his counsel and that he expressly, voluntarily and
knowingly waives any additional time; and (v) Executive was informed that Executive has seven (7)
days following the date of signing of this Agreement in which to revoke this Agreement by
delivering a written, signed revocation to Vice-President — Human Resources, Dole Food Company,
Inc., One Dole Drive, Westlake Village, CA 91362, before the expiration of seven (7) days.

     10. Confidential Information. Executive acknowledges that during Executive’s
employment with the Company, Executive has had access to confidential and proprietary business
information that is the property of the Company, the disclosure or utilization of which would cause
substantive and irreparable harm, loss of goodwill and injury to the Company. Executive
acknowledges that Executive has returned to the Company all such confidential and proprietary
business information in Executive’s possession, custody or control, as well as all files,
memoranda, records, documents, computer records, copies of the foregoing, and other such
information related to the Company in Executive’s possession, custody or control. Executive
further agrees not to disclose or utilize any such confidential or proprietary business information
in the future.

     11. Waiver of Claims for Damages. Each party agrees that by this Agreement it waives
any claim for damages incurred at any time after the date of this Agreement because of alleged
continuing effects of

18

 

any alleged wrongful or discriminatory acts or omissions involving any Releasee, or the
Executive, as applicable, which occurred on or before the execution of this Agreement and any right
to sue for injunctive relief against the alleged acts or omissions occurring prior to the date of
this Agreement.

     12. Severability. The parties understand and agree that if any provision of this
Agreement shall, for any reason, be adjudged by any court of competent jurisdiction to be invalid
or unenforceable, such judgment shall not affect, impair, or invalidate the remainder of this
Agreement, but shall be confined in this operation to the provision of this Agreement directly
involved in the controversy in which such judgment shall have been rendered.

     13. Arbitration of Disputes.

          (a) Any controversy or claim arising out of or relating to this Agreement, its enforcement,
arbitrability or interpretation, or because of an alleged breach, default, or misrepresentation in
connection with any of its provisions, or arising out of or relating in any way to the Executive’s
employment or termination of the same, including, without limiting the generality of the foregoing,
any alleged violation of statute, common law or public policy, shall be submitted to final and
binding arbitration, to be held in Los Angeles County, California, before a single arbitrator, in
accordance with California Civil Procedure Code §§ 1280 et seq. The arbitrator shall be selected
by mutual agreement of the parties or, if the parties cannot agree, then by striking from a list of
arbitrators supplied by the American Arbitration Association. The arbitrator shall issue a written
opinion setting forth the essential findings and conclusions upon which the arbitrator’s award is
based. The Company will pay the arbitrator’s fees and arbitration expenses and any other costs
associated with the arbitration hearing (recognizing that each side bears its own deposition,
witness, expert and attorneys’ fees and other expenses as and to the same extent as if the matter
were being heard in court). If, however, any party prevails on a statutory claim which affords the
prevailing party attorneys’ fees and costs, or if there is a written agreement providing for fees
and costs, then the arbitrator may award reasonable fees to the prevailing party. Any dispute as
to the reasonableness of any fee or cost shall be resolved by the arbitrator. Nothing in this
paragraph shall affect the Executive’s or the Company’s ability to seek from a court injunctive or
equitable relief.

          (b) Except as may be necessary to enter judgment upon the award or to the extent required by
applicable law, all claims, defenses and proceedings (including, without limiting the generality of
the foregoing, the existence of a controversy and the fact that there is an arbitration proceeding)
shall be treated in a confidential manner by the arbitrator, the parties and their counsel, each of
their agents, and employees and all others acting on behalf of or in concert with them. Without
limiting the generality of the foregoing, no one shall divulge to any third party or Person not
directly involved in the arbitration the content of the pleadings, papers, orders, hearings,
trials, or awards in the arbitration, except as may be necessary to enter judgment upon an award as
required by applicable law. Any controversy relating to the arbitration, including, without
limiting the generality of the foregoing, to prevent or compel arbitration or to confirm, correct,
vacate or otherwise enforce an arbitration award, shall be filed under seal with the court, to the
extent permitted by law.

     14. Entire Understanding. The parties understand that this Agreement represents the
entire agreement and understanding between the parties and supersedes any prior or contemporaneous
agreement, understanding or negotiations respecting such subject. No change to or modification of
this Agreement shall be valid or binding unless it is in writing and signed by Executive and a duly
authorized officer of the Company.

     15. Governing Law. This Agreement shall be governed and construed under the applicable
laws of the State of California.

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Executive affirms that Executive has read and understands this Agreement and hereby agrees to
voluntarily sign it. Executive declares under penalty of perjury that the foregoing is true and
correct.

     EXECUTED this _____ day of __________, ____, at ___________________.

	 	 	 	 	 	 	 

	EXECUTIVE

	 	 	 	DOLE FOOD COMPANY, INC.	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

[Name]

	 	 
	 	 

[Title]
	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

[Title]
	 	 

20

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