Document:

Amendment and Restatement of Del Monte AIP Deferred Compensation Plan

 Exhibit 10.33 
  
 DEL MONTE CORPORATION 
 AIP DEFERRED
COMPENSATION PLAN 
 Effective July 1, 2004 
  

 DEL MONTE CORPORATION 
 AIP DEFERRED COMPENSATION PLAN 
  

  
 TABLE OF CONTENTS

  

							
	 	  	 	  	 	  	Page

	 ARTICLE 1 Definitions
	  	1
		
	 ARTICLE 2 Selection/Enrollment/Eligibility
	  	7
				
	 	  	2.1	  	Selection by the Chief Executive Officer	  	7
	 	  	2.2	  	Enrollment Requirements	  	7
	 	  	2.3	  	Eligibility; Commencement of Participation	  	7
	 	  	2.4	  	Change of Participating Employer	  	7
		
	 ARTICLE 3 Deferral Commitments/Vesting/Earnings Crediting
	  	8
				
	 	  	3.1	  	Minimum and Maximum Deferral	  	8
	 	  	3.2	  	Election to Defer; Effect of Election Form	  	8
	 	  	3.3	  	Withholding of Deferral Amounts	  	8
	 	  	3.4	  	Corporation Matching Contributions	  	8
	 	  	3.5	  	Vesting	  	8
	 	  	3.6	  	Value of Account Balances	  	9
	 	  	3.7	  	Special Rule	  	9
	 	  	3.8	  	Source	  	9
		
	 ARTICLE 4 Withdrawal Payouts
	  	10
				
	 	  	4.1	  	Withdrawal Payout; Suspensions for Unforeseeable Financial Emergencies	  	10
	 	  	4.2	  	In-Service Payout Where No Unforeseeable Financial Emergencies	  	10
		
	 ARTICLE 5 Retirement Benefit
	  	11
				
	 	  	5.1	  	Retirement Benefit	  	11
	 	  	5.2	  	Payment of Retirement Benefits	  	11
	 	  	5.3	  	Death Prior to the Completion of Retirement Benefits	  	11
		
	 ARTICLE 6 Pre-Retirement Survivor Benefit
	  	12
				
	 	  	6.1	  	Pre-Retirement Survivor Benefit	  	12
	 	  	6.2	  	Payment of Pre-Retirement Survivor Benefits	  	12
		
	 ARTICLE 7 Disability Benefit
	  	13
				
	 	  	7.1	  	Disability Benefits	  	13
	 	  	7.2	  	Payment of Disability Benefit	  	13

  

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 AIP DEFERRED COMPENSATION PLAN 
  

							
	 	  	7.3	  	Death Prior to Completion of Disability Benefits	  	13
		
	 ARTICLE 8 Termination Benefit
	  	14
				
	 	  	8.1	  	Termination Benefit	  	14
	 	  	8.2	  	Payment of Termination Benefit	  	14
		
	 ARTICLE 9 Beneficiary Designation
	  	15
				
	 	  	9.1	  	Beneficiary	  	15
	 	  	9.2	  	Beneficiary Designation; Change; Spousal Consent	  	15
	 	  	9.3	  	Acknowledgment	  	15
	 	  	9.4	  	No Beneficiary Designation	  	15
	 	  	9.5	  	Doubt as to Beneficiary	  	15
	 	  	9.6	  	Discharge of Obligations	  	15
		
	 ARTICLE 10 Leave of Absence
	  	16
				
	 	  	10.1	  	Paid Leave of Absence	  	16
	 	  	10.2	  	Unpaid Leave of Absence	  	16
		
	 ARTICLE 11 Termination, Amendment or Modification
	  	17
				
	 	  	11.1	  	Termination	  	17
	 	  	11.2	  	Amendment	  	17
	 	  	11.3	  	Effect of Payment	  	17
		
	 ARTICLE 12 Administration
	  	18
				
	 	  	12.1	  	Committee Duties	  	18
	 	  	12.2	  	Agents	  	18
	 	  	12.3	  	Binding Effect of Decisions	  	18
	 	  	12.4	  	Indemnity of Committee	  	18
	 	  	12.5	  	Participating Employer Information	  	18
		
	 ARTICLE 13 Claims Procedures
	  	19
				
	 	  	13.1.	  	Disposition of Claim	  	19
	 	  	13.2.	  	Appeals	  	19
	 	  	13.3.	  	Decision Final	  	19
		
	 ARTICLE 14 Miscellaneous
	  	20
				
	 	  	14.1	  	Unsecured General Creditor	  	20
	 	  	14.2	  	Corporation’s Liability	  	20
	 	  	14.3	  	FICA and Other Taxes	  	20

  

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	 	  	14.4	  	Nonassignability	  	20
	 	  	14.5	  	Coordination with Other Benefits	  	20
	 	  	14.6	  	Not a Contract of Employment	  	20
	 	  	14.7	  	Furnishing Information	  	21
	 	  	14.8	  	Terms	  	21
	 	  	14.9	  	Captions	  	21
	 	  	14.10	  	Governing Law	  	21
	 	  	14.11	  	Notice	  	21
	 	  	14.12	  	Successors	  	21
	 	  	14.13	  	Spouse's Interest	  	21
	 	  	14.14	  	Validity	  	22
	 	  	14.15	  	Incompetent	  	22
	 	  	14.16	  	Counterparts	  	22

  

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 DEL MONTE CORPORATION 
 AIP DEFERRED COMPENSATION PLAN 
  

  
 Del Monte Corporation

 AIP Deferred Compensation Plan 
 Amended and Restated Effective July 1, 2004 
  
 Purpose 
  
 The purpose of
this Plan is to provide specified benefits to a select group of management or highly compensated employees who contribute materially to the continued growth, development and future business success of Del Monte Corporation, a Delaware corporation.
The Plan is intended to constitute an unfunded plan of deferred compensation for a select group of management or highly compensated employees as described in ERISA Section 201(2). This Plan formerly was known as the Del Monte Corporation AIAP
Deferred Compensation Plan. Effective July 1, 2004, the Plan hereby is amended and restated for the purposes of changing its title and incorporating certain eligible participants previously covered under the Del Monte Corporation Executive Deferred
Compensation Plan. 
  
 ARTICLE 1  
 Definitions 
  
 For purposes hereof, unless otherwise clearly apparent from the context, the following phrases or terms shall have the following indicated meanings:

  

	1.1	“Account Balance” shall mean, with respect to a Participant, the number of Deferred Stock Units purchased by contributions to a Participant’s Elective Deferral
Account and Employer Matching Contribution Account. This account shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the number of shares of Common Stock to be paid to or in respect of
a Participant pursuant to the Plan. 

  

	1.2	“Annual Bonus” shall mean any cash award paid in respect of a Plan Year to a Participant under the Corporation’s Annual Incentive Plan (known as the “AIP”).

  

	1.3	“Annual Deferral Amount” shall mean that portion of a Participant’s Annual Bonus that a Participant elects to have and is deferred, in accordance with Article 3, for
any one Plan Year. 

  

	1.4	“Beneficiary” shall mean one or more persons, trusts, estates or other entities, designated in accordance with Article 9, that are entitled to receive benefits under the
Plan upon the death of a Participant. 

  

	1.5	“Beneficiary Designation Form” shall mean the form established from time to time by the Committee that a Participant completes, signs and returns to the Committee to
designate one or more Beneficiaries. 

  

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	1.6	“Board” shall mean the board of directors of the Corporation. 

  

	1.7	“Change in Control” shall mean the occurrence of one or more of the following events: 

  

	 	(a)	any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of the Parent to any individual,
partnership, corporation, limited liability company, unincorporated organization, trust or joint venture, or a governmental agency or political subdivision thereof (a “Person”) or group of related Persons for purposes of Section 13(d) of
the Securities Exchange Act of 1934, as amended (a “Group”), together with any Affiliates (as defined below) thereof; 

  

	 	(b)	the approval by the holders of any and all shares, interests, participations or other equivalents (however designated and whether or not voting) of corporate stock, including each
class of common stock and preferred stock of the Parent (“Capital Stock”), of any plan or proposal for the liquidation or dissolution of the Parent; 

  

	 	(c)	any Person or Group shall become the owner, directly or indirectly, beneficially or of record, of shares representing more than 40% of the aggregate ordinary voting power
represented by the issued and outstanding Capital Stock (the “Voting Stock”) of the Parent; 

  

	 	(d)	the replacement of a majority of the board of directors of the Parent over a two-year period from the directors who constituted the board of directors of the Parent at the beginning
of such period, and such replacement shall not have been approved by a vote of at least a majority of the board of directors of the Parent then still in office who either were members of such board at the beginning of such period (any such
individual who was a director at the beginning of such period or is so approved, nominated or designated being referred to herein as an “Incumbent Director”); provided, however, that no individual shall be considered an Incumbent Director
if the individual initially assumed office as a result of either an actual or threatened “Election Contest” (as described in Rule 14a-11 promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents
by or on behalf of a Person other than the board of directors of the Parent (a “Proxy Contest”) including by reason of any agreement intended to avoid or settle any Election Contest or Proxy Contest; or 

  

	 	(e)	a merger or consolidation involving the Parent in which the Parent is not the surviving corporation, or a merger or consolidation involving the Parent in which the Parent is the
surviving corporation but the holders of shares of Capital Stock receive securities of another corporation and/or other property, including cash, or any other similar transaction. 

  

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 For purposes of this Section 1.7, “Affiliate” shall mean, with respect to any specified
Person, any other Person who directly or indirectly through one or more intermediaries controls, or is controlled by, or is under common control with, such specified Person. The term “control” means the possession, directly or indirectly,
of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” or “controlled” have meanings
correlative of the foregoing. 
  

	1.8	“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated thereunder. 

  

	1.9	“Committee” shall mean the Del Monte Corporation Employee Benefits Committee appointed by the Board. 

  

	1.10	“Common Stock” shall mean the shares of common stock of the Parent, par value $0.01 per share. 

  

	1.11	“Corporation” shall mean the Del Monte Corporation, a Delaware corporation. 

  

	1.12	“Deferral Amount” shall mean the sum of all of a Participant’s Annual Deferral Amounts. 

  

	1.13	“Deferred Stock Units” shall mean (a) with respect to a Participant’s Deferral Amount, the number of stock units (including fractions thereof) obtained by dividing a
Participant’s Deferral Amount by the Fair Market Value of a share of Common Stock on the effective date of the Participant’s deferral as set forth in Article 3 of the Plan, and (b) with respect to a Participating Employer Matching
Contribution, the number of stock units (including fractions thereof) obtained by dividing the Participating Employer Matching Contribution by the Fair Market Value of a share of Common Stock on the effective date of the Participant’s deferral
as set forth in Article 3 of the Plan. Each Deferred Stock Unit will be credited with dividends and special distributions which will be converted into additional Deferred Stock Units as provided herein. Participants will not be entitled to voting
rights on account of Deferred Stock Units. Each Deferred Stock Unit (or fraction thereof) will be converted into one (1) whole share of Common Stock upon the payment of any benefit under this Plan. No fractional shares of Common Stock will be issued
under the Plan. If the calculation of the number of shares of Common Stock to be issued under this Plan results in fractional shares, then the number of shares of Common Stock will be rounded up to the nearest whole share of Common Stock.

  

	1.14	“Disability” shall mean physical or mental disability as a result of which the Participant is unable to perform his duties with the Participating Employer substantially a
full-time basis for any period of six (6) consecutive months. Any dispute as to whether or not the Participant is so disabled shall be resolved by a physician reasonably acceptable to the Participant and the Participating Employer whose
determination shall be final and 

  

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 binding upon both the Participant and the Participating Employer. Notwithstanding the foregoing
provisions, “Disability” when used in connection with the termination of employment with the Participating Employer of a Participant who at the time of such termination is a party to a written employment or retention agreement with the
Participating Employer, shall have the meaning assigned to such term in such agreement. 
  

	1.15	“Disability Benefit” shall mean a benefit set forth in Article 7. 

  

	1.16	“Election Form” shall mean the form established from time to time by the Committee that a Participant completes, signs and returns to the Committee to make an election
under the Plan. 

  

	1.17	“Elective Deferral Account” shall mean a Participant’s Deferral Amount adjusted in accordance with Section 3.6 of the Plan, net of all distributions from such
account. This account shall be a bookkeeping entry only maintained by the applicable Participating Employer and shall be utilized solely as a device for the measurement and determination of the number of shares of Common Stock to be paid to the
Participant pursuant to the Plan. A Participant shall have a fully vested and nonforfeitable interest in this account at all times. 

  

	1.18	“Eligible Employee(s)” shall mean any employee of a Participating Employer who is at salary grade forty (40) and above. 

  

	1.19	“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations promulgated thereunder. 

 

	1.20	the “Fair Market Value” of a share of Common Stock with respect to any day shall mean (a) the average of the high and low sales prices on such day of a share of Common
Stock as reported on the principal securities exchange on which shares of Common Stock are then listed or admitted to trading, or (b) if not so reported, the average of the closing bid and ask prices on such day as reported on the National
Association of Securities Dealers Automated Quotation System, or (c) if not so reported, as furnished by any member of the National Association of Securities Dealers, Inc. selected by the Committee. In the event that the price of a share of Common
Stock shall not be so reported, the Fair Market Value of a share of Common Stock shall be determined by the Committee in its absolute discretion. 

  

	1.21	“Parent” shall mean the Del Monte Foods Company, a Delaware corporation. 

  

	1.22	“Participant” shall mean any employee with respect to a Participating Employer (a) who is selected to participate in the Plan, (b) who elects to participate in the Plan,
(c) who signs a Plan Agreement, Election Form and Beneficiary Designation Form; (d) whose signed Plan Agreement, Election Form and Beneficiary Designation Form are accepted by the Committee, (e) who commences participation in the Plan, and (f) whose
Plan Agreement has not terminated. 

  

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	1.23	“Participating Employer” shall mean any affiliate of the Corporation that is designated by the Board from time to time be a participating employer under the Plan.

  

	1.24	“Participating Employer Matching Contribution” shall mean the annual Participating Employer contribution which matches a percentage of a Participant’s Annual Deferral
Amount as set forth in Section 3.4 of the Plan. 

  

	1.25	“Participating Employer Matching Contribution Account” shall mean a Participant’s share of Participating Employer Matching Contributions adjusted in accordance with
Section 3.6 of the Plan, net of all distributions from such account. This account shall be a bookkeeping entry only maintained by the applicable Participating Employer and shall be utilized solely as a device for the measurement and determination of
the number of shares of Common Stock to be paid to the Participant pursuant to the Plan. A Participant’s vested and nonforfeitable interest in each Participating Employer Matching Contribution credited to his or her account shall be determined
in accordance with Section 3.5 of the Plan. 

  

	1.26	“Plan” shall mean the “Del Monte Corporation AIP Deferred Compensation Plan”, which shall be evidenced by this instrument and, with respect to each Participant,
by his or her Plan Agreement, as each may be amended from time to time. 

  

	1.27	“Plan Agreement” shall mean a written agreement, as may be amended from time to time, which is entered into by and between a Participating Employer and a Participant. Each
Plan Agreement executed by a Participant shall provide for the entire benefit to which such Participant is entitled to under the Plan with respect to such Participating Employer. The Plan Agreement bearing the latest date of acceptance by the
Committee shall govern such entitlement and the Participating Employer’s liability. Upon the complete payment of the vested portion of a Participant’s Account Balance, each individual’s Plan Agreement and his or her status as a
Participant shall terminate. The Plan Agreement may be amended by the written consent of both parties from time to time. 

  

	1.28	“Plan Year” shall mean the period commencing each year on the first day of the Corporation’s fiscal year (on or about May 1) and ending each year on the last day of
the Corporation’s fiscal year (on or about April 30), except for the first Plan Year following the effective date of this amended and restated Plan, which shall be the period commending July 1, 2004 and ending April 30, 2005.

  

	1.29	“Pre-Retirement Survivor Benefit” shall mean the benefit set forth in Article 6. 

  

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	1.30	“Retirement,” “Retire,” “Retires,” or “Retired” shall mean severance from employment with all Participating Employers upon retirement under
the Del Monte Corporation Retirement Plan for Salaried Employees. 

  

	1.31	“Retirement Benefit” shall mean the benefit set forth in Article 5. 

  

	1.32	“Termination Benefit” shall mean the benefit set forth in Article 8. 

  

	1.33	“Termination of Employment” shall mean the ceasing of employment with all Participating Employers, voluntarily or involuntarily, for any reason other than Retirement,
Disability, death or an authorized leave of absence. 

  

	1.34	“Unforeseeable Financial Emergency” shall mean an unanticipated emergency that is caused by an event beyond the control of the Participant that would result in severe
financial hardship to the Participant resulting from (a) a sudden and unexpected illness or accident of the Participant or a dependent of the Participant, (b) a loss of the Participant’s property due to casualty, or (c) such other extraordinary
and unforeseeable circumstances arising as a result of events beyond the control of the Participant, all as determined in the sole and absolute discretion of the Committee. 

  

	1.35	“Years of Service” shall mean a Plan Year (including the first Plan Year following the effective date of this amended and restated Plan) throughout which a Participant is

  

	 	(a)	both employed by or in the service of any Participating Employer and a Participant in the Plan, or; 

  

	 	(b)	as to Participants previously covered under the Del Monte Corporation Executive Deferred Compensation Plan, both employed by or in the service of any Participating Employer and a
Participant in the Plan and/or the Del Monte Corporation Executive Deferred Compensation Plan. 

  
 A Participant shall not receive duplicative credit for any period in which he or she is employed by more than one Participating Employer. 
  

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 ARTICLE 2 
 Selection/Enrollment/Eligibility 
  

	2.1	Selection by the Chief Executive Officer. Participation in the Plan shall be limited to Eligible Employees. From the foregoing, the Chief Executive Officer of the
Corporation shall select, in his sole and absolute discretion, those who may participate in the Plan. 

  

	2.2	Enrollment Requirements. As a condition to participation, each selected employee shall complete, execute and return to the Committee within thirty (30) days of
selection a Plan Agreement, an Election Form, and a Beneficiary Designation Form. In addition, the Committee shall establish from time to time such other enrollment requirements as it determines in its sole and absolute discretion are necessary.

  

	2.3	Eligibility; Commencement of Participation. Provided an employee selected to participate herein has met all enrollment requirements set forth herein and required by
the Committee, including returning all required documents to the Committee within thirty (30) days of selection, that employee shall commence participation in the Plan upon the timely completion of those requirements and the Committee’s
acceptance of all submitted documents. If an employee fails to meet all such requirements within the required thirty (30) day period, that employee shall not be eligible to participate in the Plan until the first day of the Plan Year following the
delivery to and acceptance by the Committee of the required documents. 

  

	2.4	Change of Participating Employer. If a Participant moves from one Participating Employer to another during a Plan Year, that employee shall enter into a new Plan
Agreement with the new Participating Employer and complete and submit other new enrollment materials; provided that the employee shall continue participation for the balance of the Plan Year at the same deferral level he or she elected
effective the beginning of such year. 

  

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 ARTICLE 3 
 Deferral Commitments/Vesting/Earnings Crediting 
  

	3.1	Minimum and Maximum Deferral. On any day of the month in each April immediately prior to the beginning of each Plan Year, a Participant may elect to defer up to one
hundred percent (100%) but not less than five percent (5%) of his or her Annual Bonus. 

  

	3.2	Election to Defer; Effect of Election Form. In connection with a Participant’s commencement of participation in the Plan, the Participant shall make a deferral
election by delivering to the Committee a completed and signed Election Form, which election and form must be accepted by the Committee for a valid election to exist. For each succeeding Plan Year, a new Election Form must be delivered to the
Committee, in accordance with its rules and procedures, before the end of the Plan Year preceding the Plan Year for which the election is made. If no Election Form is timely delivered for a Plan Year, no Annual Deferral Amount shall be withheld for
that Plan Year. 

  

	3.3	Withholding of Deferral Amounts. For each Plan Year, the Annual Bonus shall be withheld at the time the Annual Bonus is or otherwise would be paid to the Participant,
even if that occurs after the end of the Plan Year. The Annual Deferral Amount shall be credited to a Participant’s Elective Deferral Account at such time. 

  

	3.4	Participating Employer Matching Contributions. Each Participating Employer shall make matching contributions on behalf of Participants in an amount not to exceed
twenty-five percent (25%) of a Participant’s Annual Deferral Amount. These matching contributions shall be credited to each Participant’s Participating Employer Matching Contribution Account on the same date and in the same manner as the
Participant’s Annual Deferral Amount as set forth in Section 3.3 above.  

  

	3.5	Vesting. 

  

	 	(a)	Elective Deferral Account. A Participant shall at all times be one hundred percent (100%) vested in his or her Elective Deferral Account. 

  

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	 	(b)	Participating Employer Matching Contributions; Class Year Vesting. A Participant shall vest in the Participating Employer Matching Contribution for a Plan Year
credited to his or her Participating Employer Matching Contribution Account as follows, based on full Years of Service completed measured from the beginning of such Plan Year: 

  

				
		
	 Years of Service

	  	Nonforfeitable Percentage

	 
	 less than 1
	  	0	%
	 1 but less than 2
	  	33.3	%
	 2 but less than 3
	  	66.6	%
	 3 or more
	  	100	%

  
 A Participant shall
automatically become fully vested in all amounts credited to his or her Participating Employer Matching Contribution Account if he or she dies while employed by a Participating Employer. 
  

	 	(c)	Notwithstanding anything to the contrary contained in this Section 3.5, in the event of a Change in Control, a Participant shall become one hundred percent (100%) vested (if not
already vested in accordance with this Section 3.5) in all of the Participating Employer Matching Contributions credited to his or her Participating Employer Matching Contribution Account. 

  

	3.6	Value of Account Balances. In accordance with, and subject to, the rules and procedures that are established from time to time by the Committee, in its sole
discretion, the value of a Participant’s Account Balance at any time and from time to time shall be based upon the increase or decrease in the Fair Market Value of Common Stock. 

  

	3.7	Special Rule. The Committee may, in its discretion, defer any amount payable hereunder, notwithstanding any other provision of this Plan or the terms of any
Participant’s election, to the earliest moment at which the tax deduction for the payment of such amount would not be disallowed under Code Section 162(m). 

  

	3.8	Source. Any Deferred Stock Units issuable hereunder and any Common Stock payable hereunder, shall be deemed issued or paid under the Del Monte Foods Company 2002 Stock
Incentive Plan, or any successor plan approved by the Parent’s Board of Directors and stockholders of Parent. 

  

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 ARTICLE 4 
 Withdrawal Payouts 
  

	4.1	Withdrawal Payout; Suspensions for Unforeseeable Financial Emergencies. If the Participant experiences an Unforeseeable Financial Emergency, the Participant may
petition the Committee to (a) suspend any deferrals required to be made by a Participant and/or (b) receive a partial or full payout from the Plan. The payout shall not exceed the lesser of the vested portion of the Participant’s Account
Balance, calculated as if such Participant were receiving a Termination Benefit, or the amount reasonably needed to satisfy the Unforeseeable Financial Emergency. If, subject to the sole discretion of the Committee, the petition for a suspension
and/or payout is approved, suspension shall take effect upon the date of approval and any payout shall be made within thirty (30) days of the date of approval. 

  

	4.2	In-Service Payout Where No Unforeseeable Financial Emergencies. A Participant may elect, at any time prior to Retirement, to withdraw all of the vested portion of his
or her Account Balance, calculated as if there had occurred a Termination of Employment as of the day of the election, less a withdrawal penalty equal to ten percent (10%) of such amount (the net amount shall be referred to as the “Withdrawal
Amount”). No partial withdrawals of the Withdrawal Amount shall be allowed. The Participant shall make this election by giving the Committee advance written notice of the election in a form determined from time to time by the Committee. The
Participant shall be paid the Withdrawal Amount within thirty (30) days of his or her election. Once the Withdrawal Amount is paid, the Participant’s participation in the Plan shall terminate and the Participant shall not be eligible to
participate in the Plan until the beginning of the third Plan Year following the Plan Year in which the withdrawal under this Section 4.2 was made. 

  

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 ARTICLE 5 
 Retirement Benefit 
  

	5.1	Retirement Benefit. A Participant who retires shall receive a Retirement Benefit equal to the vested portion of his or her Account Balance. 

 

	5.2	Payment of Retirement Benefits. A Participant, in connection with his or her commencement of participation in the Plan, shall elect on an Election Form to receive the
vested portion of his or her Account Balance as a Retirement Benefit payable in Common Stock either in a lump sum or in equal annual installments over a period of years. The Retirement Benefit shall be paid, in the case of a lump sum payment, or
commence, in the case of installment payments, no later than thirty (30) days from the date the Participant Retires and shall continue, in the case of installment payments, for a period not greater than fifteen (15) years after the
Participant’s Retirement. The Participant may change the length and/or the frequency of the payout by submitting a new Election Form to the Committee, provided that any such Election Form is submitted at least one (1) year prior
to the Participant’s Retirement. The Election Form most recently accepted by the Committee shall govern the payout of the Retirement Benefit. 

  

	5.3	Death Prior to Completion of Retirement Benefits. If a Participant dies after Retirement but before the Retirement Benefit is paid in full, unless upon the request of
the Beneficiary, the Committee, in its sole discretion, provides for a lump sum payment, the Participant’s unpaid Retirement Benefit shall continue and shall be paid to the Participant’s Beneficiary for the remaining number of years in the
installment period selected by the Participant; provided, however, if no Beneficiary is designated or in the event any such person is not then living, to his or her estate over the remaining number of years in the installment period and in the same
amounts as that benefit would have been paid to the Participant had the Participant survived. 

  

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 ARTICLE 6 
 Pre-Retirement Survivor Benefit 
  

	6.1	Pre-Retirement Survivor Benefit. If a Participant dies while employed by a Participating Employer but before he or she Retires, the Participant’s Beneficiary
shall receive a Pre-Retirement Survivor Benefit equal to the Participant’s Account Balance. 

  

	6.2	Payment of Pre-Retirement Survivor Benefits. The Pre-Retirement Survivor Benefit shall be payable in Common Stock in a lump sum. The Pre-Retirement Survivor Benefit
shall be made within thirty (30) days of the Committee’s receipt of proof of the Participant’s death. 

  

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 ARTICLE 7 
 Disability Benefit 
  

	7.1	Disability Benefits. If a Participant’s employment with a Participating Employer terminates, prior to Retirement, by reason of Disability, then the Participant
shall receive a Disability Benefit equal to the vested portion of his or her Account Balance. 

  

	7.2	Payment of Disability Benefit. A Participant, in connection with his or her commencement of participation in the Plan, shall elect on an Election Form to receive the
vested portion of his or her Account Balance as a Disability Benefit payable in Common Stock either in a lump sum or in equal annual installments over a period of years. The Disability Benefit shall be paid, in the case of a lump sum payment, or
commence, in the case of installment payments, no later than thirty (30) days from the date the Participant becomes Disabled and shall continue, in the case of installment payments, for a period not greater than fifteen (15) years after the
Participant’s Disability. The Participant may change the length and/or the frequency of the payout by submitting a new Election Form to the Committee, provided that any such Election Form is submitted at least one (1) year prior to the
Participant’s Disability. The Election Form most recently accepted by the Committee shall govern the payout of the Disability Benefit. 

  

	7.3	Death Prior to Completion of Disability Benefits. If a Participant dies after Disability onset but before the Disability Benefit is paid in full, unless upon the
request of the Beneficiary, the Committee, in its sole discretion, provides for a lump sum payment, the Participant’s unpaid Disability Benefit payments shall continue and shall be paid to the Participant’s Beneficiary for the remaining
number of years in the installment period selected by the Participant; provided, however, if no Beneficiary is designated or, in the event any such person is not then living, to his or her estate over the remaining number of years and
in the same amounts as that benefit would have been paid to the Participant had the Participant survived. 

  

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 ARTICLE 8 
 Termination Benefit 
  

	8.1	Termination Benefit. If a Participant experiences a Termination of Employment prior to his or her Retirement, Participant shall receive a Termination Benefit equal to
the vested portion of the Participant’s Account Balance. 

  

	8.2	Payment of Termination Benefit. The Termination Benefit shall be payable in Common Stock in a lump sum. The Termination Benefit shall be made within thirty (30) days
of a Participant’s Termination of Employment. 

  

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 ARTICLE 9 
 Beneficiary Designation 
  

	9.1	Beneficiary. Each Participant shall have the right, at any time, to designate his or her Beneficiary (both primary as well as contingent) to receive any benefits
payable under the Plan to a Beneficiary upon the death of a Participant, which right shall apply to all Participating Employers. The Beneficiary designated under this Plan may be the same as or different from the beneficiary designation under any
other plan of a Participating Employer in which the Participant participates. 

  

	9.2	Beneficiary Designation; Change; Spousal Consent. A Participant shall designate his or her Beneficiary by completing and signing the Beneficiary Designation Form, and
returning it to the Committee or its designated agent. A Participant shall have the right to change a Beneficiary by completing, signing and otherwise complying with the terms of the Beneficiary Designation Form and the Committee’s rules and
procedures, as in effect from time to time. Where required by law or by the Committee, in its sole and absolute discretion, if the Participant names someone other than his or her spouse as a Beneficiary, a spousal consent, in the form designated by
the Committee, must be signed by that Participant’s spouse and returned to the Committee. Upon the acceptance by the Committee of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be cancelled. The
Committee shall be entitled to rely on the last Beneficiary Designation Form filed by the Participant and accepted by the Committee prior to his or her death. 

  

	9.3	Acknowledgment. No designation or change in designation of a Beneficiary shall be effective until received, accepted and acknowledged in writing by the Committee or
its designated agent. 

  

	9.4	No Beneficiary Designation. If a Participant fails to designate a Beneficiary as provided in Sections 9.1, 9.2 and 9.3 above, or, if all designated Beneficiaries
predecease the Participant or die prior to complete distribution of the Participant’s benefits, then the Participant’s designated Beneficiary shall be his or her surviving spouse. If the Participant has no surviving spouse, the benefits
remaining under the Plan shall be paid to the Participant’s estate. 

  

	9.5	Doubt as to Beneficiary. If the Committee has any doubt as to the proper Beneficiary to receive payments pursuant to this Plan, the Committee shall have the right,
exercisable in its sole and absolute discretion, to cause the Participating Employer to withhold such payments until this matter is resolved to the Committee’s satisfaction. 

  

	9.6	Discharge of Obligations. The payment of benefits under the Plan to a Beneficiary shall fully and completely discharge all Participating Employers and the Committee
from all further obligations under this Plan with respect to the Participant, and that Participant’s Plan Agreement shall terminate upon such full payment of benefits. 

  

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 ARTICLE 10 
 Leave of Absence 
  

	10.1	Paid Leave of Absence. If a Participant is authorized by a Participating Employer for any reason to take a paid leave of absence from employment, the Participant shall
continue to be considered actively employed by the Participating Employer and the Annual Deferral Amount shall be withheld during such paid leave of absence in accordance with Section 3.3 of the Plan. 

  

	10.2	Unpaid Leave of Absence. If a Participant is authorized by a Participating Employer for any reason to take an unpaid leave of absence from employment, the Participant
shall continue to be considered actively employed by the Participating Employer, but the Participant shall be excused from making deferrals until the date the Participant returns to paid employment status. If no election was made for the Plan Year
in which the Participant returns to paid status, then no Annual Deferral Amount shall be withheld. 

  

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 ARTICLE 11 
 Termination, Amendment or Modification 
  

	11.1	Termination. The Board reserves the right to terminate the Plan at any time. Upon the termination of the Plan, the vested portion of a Participant’s Account
Balance shall be paid out as though the Participant had experienced a Termination of Employment on the date of Plan termination, or, if Plan termination occurs after the date upon which the Participant was eligible to Retire, the Participant had
Retired on the date of Plan termination, or, if Plan termination occurs after the Participant Retired or incurred a Disability and commenced (but not completed) distribution hereunder, benefits shall continue to the Participant pursuant to the terms
hereof without regard to the termination. 

  

	11.2	Amendment. The Board may, at any time, amend or modify the Plan in whole or in part; provided, however, that no amendment or modification shall be
effective to decrease the vested portion of a Participant’s Account Balance, calculated as though the Participant had experienced a Termination of Employment as of the effective date of the amendment or modification, or, if the amendment or
modification occurs after the date upon which the Participant was eligible to Retire, the Participant had Retired as of the effective date of the amendment or modification. In addition, no amendment or modification of the Plan shall affect the right
of any Participant or Beneficiary who was eligible to or did Retire or incurred a Disability on or before the effective date of such amendment or modification to receive benefits in the manner he or she elected. 

  

	11.3	Effect of Payment. The full payment of the applicable benefit under Articles 4, 5, 6, 7 or 8 of the Plan shall completely discharge all Participating Employers and the
Committee for all obligations to a Participant under this Plan, and the Participant’s Plan Agreement shall terminate. 

  

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 ARTICLE 12 
 Administration 
  

	12.1	Committee Duties. This Plan shall be administered by the Committee. The Committee shall also have the discretion and authority to make, amend, interpret, and enforce
all appropriate rules and regulations for the administration of this Plan and decide or resolve any and all questions including interpretations of this Plan, as may arise in connection with the Plan. Any Committee member must recuse himself
or herself on any matter regarding the disposition of their own claim or appeal under the Plan that comes before the Committee. 

  

	12.2	Agents. In the administration of this Plan, the Committee may, from time to time, employ agents and delegate to them such administrative duties as it sees fit and may
from time to time consult with counsel who may be counsel to a Participating Employer. 

  

	12.3	Binding Effect of Decisions. The decision or action of the Committee with respect to any question arising out of or in connection with the administration,
interpretation and application of the Plan and the rules and regulations promulgated hereunder shall be final and conclusive and binding upon all persons having any interest in the Plan. 

  

	12.4	Indemnity of Committee. The Participating Employers shall jointly and severally indemnify and hold harmless the members of the Committee against any and all claims,
losses, damages, expenses or liabilities arising from any action or failure to act with respect to this Plan, except in the case of willful misconduct by the Committee or any of its members. 

  

	12.5	Participating Employer Information. To enable the Committee to perform its functions, the Participating Employers shall supply full and timely information to the
Committee on all matters relating to the compensation of Participants, the date and circumstances of the Retirement, Disability, death or Termination of Employment of Participants, and such other pertinent information as the Committee may reasonably
require. 

  

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 ARTICLE 13 
 Claims Procedures 
  

	13.1.	Disposition of Claim. The Committee shall furnish written notice of disposition of a claim to the claimant within sixty (60) days after the claimant has filed
application therefor. In the event that the Committee denies such claim, it shall specifically set forth in writing the reasons for the denial, cite the pertinent provisions of the Plan, and, where appropriate, provide an explanation as to how the
claimant can perfect such claim. 

  

	13.2	Appeals. Any claimant who has been denied a benefit shall be entitled, upon request to the Committee, to appeal the denial of his claim. The claimant must provide a
written statement of his position to the Committee not later than sixty (60) days after receipt of the notification of denial of claim as set forth in Section 13.1. The committee, board, or other body acting as Plan Administrator as of the time such
claim was filed and disposed of pursuant to Section 13.1 shall furnish to the Committee such records and/or other information as are necessary for the Committee to conduct the appeal pursuant to this Section 13.2. The Committee, within sixty (60)
days after receipt of an appeal notice, shall communicate to the claimant its decision in writing. Any claims for benefits under this Plan brought in a court of law must be filed in such court before the earlier of ninety (90) days after any appeal
pursuant to this Section 13.2 or one (1) year from the date the claim arose. 

  

	13.3	Decision Final. The Committee’s determination of benefits due under the Plan shall be accorded deference and its decision shall be final and binding upon all
parties. 

  

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 ARTICLE 14 
 Miscellaneous 
  

	14.1	Unsecured General Creditor. Participants and their Beneficiaries, heirs, successors and assigns shall have no legal or equitable right, interest or claim in any
property or assets of any Participating Employer. Any and all of each Participating Employer’s assets shall be, and remain, the general, unpledged and unrestricted assets of each such Participating Employer. The applicable Participating
Employer’s obligation under the Plan shall be merely that of an unfunded and unsecured promise to pay money in the future with respect to the Participants. 

  

	14.2	Participating Employer’s Liability. A Participating Employer’s liability for the payment of benefits shall be defined only by the Plan. The Participating
Employers shall have no obligation to a Participant under the Plan except as expressly provided in the Plan. 

  

	14.3	FICA and Other Taxes. Participating Employers shall withhold an amount equal to the federal, state and local income taxes and other amounts required by law to be
withheld with respect to any amounts deferred or benefits received under this Plan. 

  

	14.4	Nonassignability. Neither a Participant nor any other person shall have any right to commute, sell, assign, transfer, pledge, anticipate, mortgage, or otherwise
encumber, transfer, hypothecate or convey in advance of actual receipt, the amounts, if any, payable hereunder, or any part thereof, which are, and all rights to which are expressly declared to be unassignable and non-transferable. No part of the
amounts payable shall, prior to actual payment, be subject to seizure or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a Participant or any other person, nor be transferable by operation of law in the
event of a Participant’s or any other person’s bankruptcy or insolvency. 

  

	14.5	Coordination with Other Benefits. The benefits provided for a Participant and Participant’s Beneficiary under the Plan are in addition to any other benefits
available to such Participant under any other plan or program for employees of a Participating Employer. The Plan shall supplement and shall not supersede, modify or amend any other such plan or program except as may otherwise be expressly provided.

  

	14.6	Not a Contract of Employment. The terms and conditions of this Plan shall not be deemed to constitute a contract of employment between a Participating Employer and the
Participant. Such employment is hereby acknowledged to be an “at will” employment relationship that can be terminated at any time for any reason, with or without cause, unless expressly provided in a written employment agreement. Nothing
in this Plan shall be deemed to give a Participant the right to be retained in the service of a Participating Employer either as an employee or a director, or to interfere with the right of a Participating Employer to discipline or discharge the
Participant at any time. 

  

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	14.7	Furnishing Information. A Participant or his or her Beneficiary will cooperate with the Committee by furnishing any and all information requested by the Committee and
take such other actions as may be requested in order to facilitate the administration of the Plan and the payments of benefits hereunder, including but not limited to taking such physical examinations as the Committee may deem necessary.

  

	14.8	Terms. Whenever any words are used herein in the singular or in the plural, they shall be construed as though they were used in the plural or the singular, as the case
may be, in all cases where they would so apply. 

  

	14.9	Captions. The captions of the articles, sections and paragraphs of this Plan are for convenience only and shall not control or affect the meaning or construction of
any of its provisions. 

  

	14.10	Governing Law. Subject to ERISA, the provisions of this Plan shall be construed and interpreted according to the laws of the State of California.

  

	14.11	Notice. Any notice or filing required or permitted to be given to the Committee under this Plan shall be sufficient if in writing and hand-delivered, or sent by
registered or certified mail, to: 

  
 Chair, Del Monte Corporation Employee Benefits Committee  
 c/o Del Monte Corporation 
 One Market 
 P.O. Box 193575 
 San Francisco, CA 94119-3575 
  
 Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the
postmark on the receipt for registration or certification. 
  
 Any notice or filing required or permitted to be given to a Participant under this Plan shall be sufficient if in writing and hand-delivered, or sent by mail, to the last known address of the Participant. 
  

	14.12	Successors. The provisions of this Plan shall bind and inure to the benefit of the Participating Employers and their successors and assigns and the Participant, the
Participant’s Beneficiaries, and their permitted successors and assigns. 

  

	14.13	Spouse’s Interest. The interest in the benefits hereunder of a spouse of a Participant who has predeceased the Participant shall automatically pass to the
Participant and shall not be transferable by such spouse in any manner, including but not limited to such spouse’s will, nor shall such interest pass under the laws of intestate succession. 

  

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	14.14	Validity. In case any provision of this Plan shall be illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts hereof, but
this Plan shall be construed and enforced as if such illegal or invalid provision had never been inserted herein. 

  

	14.15	Incompetent. If the Committee determines in its discretion that a benefit under this Plan is to be paid to a minor, a person declared incompetent or to a person
incapable of handling the disposition of that person’s property, the Committee may direct payment of such benefit to the guardian, legal representative or person having the care and custody of such minor, incompetent or incapable person. The
Committee may require proof of minority, incompetency, incapacity or guardianship, as it may deem appropriate prior to distribution of the benefit. Any payment of a benefit shall be a payment for the account of the Participant and the
Participant’s Beneficiary, as the case may be, and shall be a complete discharge of any liability under the Plan for such payment amount. 

  

	14.16	Counterparts. This instrument may be executed in one or more counterparts each of which shall be legally binding and enforceable. 

  

 22 

 DEL MONTE CORPORATION 
 AIP DEFERRED COMPENSATION PLAN 
  

 IN WITNESS WHEREOF, the Corporation has executed this Plan document as of July 1, 2004.

  

			
	DEL MONTE CORPORATION, a Delaware corporation
		
	 By:
	 	 /s/ Nils Lommerin

	 Its:
	 	 Executive Vice President,
 Human Resources

  

 23Employment Agreement, btwn Del Monte and Nils Lommerin

 Exhibit 10.42 
  
 EMPLOYMENT AGREEMENT 
  

This Employment Agreement (the “Agreement”) is entered into as of March 10, 2003, by and between DEL MONTE FOODS COMPANY, a Delaware
corporation, with its principal place of business in San Francisco, California (the “Company”) and NILS LOMMERIN, an individual residing in the State of California (“Executive”). 
  
 RECITALS 
  
 WHEREAS, the Company desires to employ Executive on the terms and conditions
set forth herein, and Executive desires to be employed by the Company on such terms and conditions; 
  
 NOW, THEREFORE, in consideration of the foregoing recital, the mutual promises of the parties and the mutual benefits they will gain by the performance
thereof, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties do hereby agree as follows: 
  
 1. Employment by the Company and Term. 
  
 (a) Term of Employment. The Company agrees to employ Executive as its Executive Vice President, Human Resources, and Executive hereby accepts such
employment, subject to the terms and conditions set forth herein. The term of employment of Executive under this Agreement shall begin as of the date hereof and continue until terminated pursuant to Section 4 hereof. Notwithstanding the foregoing,
the provisions of Sections 4(i) (Ongoing Obligations), 5 (Indemnification), 6 (Proprietary Information Obligations), 7 (Noninterference), 8 (Injunctive Relief), and 10 (Miscellaneous) shall survive the termination of this Agreement. 
  
 (b) Duties. Executive shall serve in an executive capacity and shall
perform such duties as are consistent with his position as Executive Vice President, Human Resources and as may be reasonably required by the Company’s Board of Directors (the “Board”). In such position, Executive shall (i)
oversee the planning, development and implementation of policies and programs relating to all aspects of Human Resources management for all Company locations; (ii) oversee employment, recruiting, labor relations, benefit plans, compensation,
payroll, HRIS, training, safety, AA/EEO and corporate travel functions; (iii) provide leadership and work directly with the Compensation Committee of the Board on matters relating to executive compensation. 
  
 (c) Exclusive Performance of Duties. While employed by the Company,
Executive agrees that he shall devote substantially all of his business time and best efforts solely and exclusively to the performance of his duties hereunder and 

 to the business and affairs of the Company, whether such business is operated directly by the Company or through any
affiliate of the Company. Executive further agrees that while employed by the Company, he will not, directly or indirectly, provide services on behalf of any competing corporation, limited liability company, partnership, joint venture, consortium,
or other competing entity or person, whether as an executive, consultant, independent contractor, agent, sole proprietor, partner, joint venturer, creditor, corporate officer or director; nor shall Executive acquire by reason of purchase during the
term of his employment with the Company the ownership of more than one percent (1%) of the outstanding equity interest in any such competing entity. For purposes of this Section 1(c) and this Agreement, a “competing” entity is one engaged
in any of the businesses in which the Company is engaged during Executive’s employment with the Company, which includes without limitation (i) dry and canned pet food and pet snacks business in the United States and Canada, (ii) specialty pet
food business conducted worldwide, (iii) ambient tuna business in North America, (iv) other ambient seafood business involving products marketed in North America, (v) retail private label soup and retail private label gravy businesses in the United
States, (vi) broth business in the United States, (vii) infant feeding business in the United States, and (viii) the manufacture and sale of processed fruits and vegetables, pineapple products and tomato products in the United States and South
America. Subject to the foregoing, Executive may serve on boards of directors of non-competing unaffiliated corporations, subject to advance approval by the Board, and may serve on the boards of charitable organizations. 
  
 (d) Company Policies. The employment relationship between the parties
shall be governed by the general employment policies and practices of the Company, provided, however, that when the terms of this Agreement differ from or are in conflict with the Company’s general employment policies or practices, this
Agreement shall control. 
  
 2. Compensation and
Benefits. 
  
 (a) Salary. Executive shall receive
for his services rendered hereunder an annual base salary of Three Hundred Thousand Dollars ($300,000), as adjusted from time to time in accordance with this Agreement (the “Base Salary”), payable on a semi-monthly basis in
twenty-four (24) equal installments, less all applicable federal, state or local taxes and other normal payroll deductions. 
  
 (b) Annual Bonus. While a full-time employee of the Company, Executive shall be entitled to participate in the Company’s Annual Incentive Plan
(the “AIP”) pursuant to the terms of which Executive shall be eligible to receive an annual bonus (the “Bonus”) targeted at 55% of Executive’s Base Salary, as adjusted from time to time in accordance with the
AIP or applicable successor plan. Actual payment of the Bonus is based on Company performance and Executive’s individual achievements. 
  
 (c) Employee Welfare Benefits. During his employment with the Company, Executive shall be entitled to participate in any group insurance,
hospitalization, medical, dental, health and accident, disability, life or similar plan or 
  

 2 

 program of the Company now existing or established hereafter to the extent that he is eligible under the general
provisions thereof. The Company may, in its sole discretion and from time to time, establish additional senior management benefit programs as it deems appropriate. Executive understands that any such plans may be modified or eliminated in the
discretion of the Company in accordance with applicable law. 
  
 (d) Pension and Retirement Benefits. During his employment with the Company, Executive shall be entitled to participate in any pension, 401K and retirement plans of the Company now existing or established hereafter to the extent that
he is eligible under the general provisions thereof. The Company may, in its sole discretion and from time to time, establish additional senior management benefit programs as it deems appropriate. Executive understands that any such plans may be
modified or eliminated in the discretion of the Company in accordance with applicable law. 
  
 (e) Vacation. Executive shall be entitled to a period of annual paid vacation time equal to not less than four (4) weeks per year as adjusted from time to time in accordance with the Company’s vacation
policy. The days selected for Executive’s vacation shall be mutually agreeable to the Company and Executive. Executive’s eligibility to carryover or to be paid for any portion of his accrued vacation shall be subject to the Company policy
applicable to employees at a similar level in effect during the term of this Agreement. 
  
 (f) Expenses. Subject to compliance with the Company’s normal and customary policies regarding substantiation and verification of business expenses, Executive is authorized to incur on behalf of the
Company, and the Company shall directly pay or shall fully reimburse Executive for all customary and reasonable expenses incurred for promoting, pursuing or otherwise furthering the business of the Company and its affiliates. 
  
 (g) Perquisites and Supplemental Benefits. During his employment with
the Company, Executive shall be entitled to such perquisites and supplemental benefits as may be approved from time to time by the Compensation Committee of the Board. 
  
 3. Stock Options. 
  
 (a) During his employment with the Company, Executive shall be eligible to participate in the applicable stock and stock option plans of the Company. The
terms and conditions of any stock or stock option agreement entered into by Executive and the Company from time to time are hereby incorporated into this Agreement. 
  
 (b) From time to time during Executive’s employment with the Company, the Board (or a committee thereof) shall evaluate
the performance of management of the Company and determine whether it is appropriate to grant any 
  

 3 

 additional stock and/or stock options to management, including without limitation, Executive. The Board (or such
committee) shall be under no obligation to grant any such stock or stock options to Executive (or any other member of management), but will take into consideration industry standards for stock and stock option issuances to Executive Vice President,
Human Resources in similar circumstances. 
  
 4. Termination
of Employment. 
  
 (a) Termination Upon Death. If
Executive dies during his employment with the Company, the Company shall pay to Executive’s estate, or other designated beneficiary(ies) as shown in the records of the Company, any earned and unpaid Base Salary as of Executive’s employment
termination date (which for purposes of this Section 4(a) shall be the date of Executive’s death); accrued but unused vacation time as of the end of the month in which Executive dies; the amount of any unreimbursed expenses described in Section
2(f), which were incurred by Executive before his death; and benefits that Executive is then entitled to receive under benefit plans of the Company. All of the foregoing payments and benefits shall be paid less all applicable federal, state or local
taxes and other normal payroll deductions, if any. Additionally, the Company shall pay to Executive’s estate, or other designated beneficiary(ies), at the end of the fiscal year in which Executive’s termination of employment occurs a pro
rata portion of Executive’s target Bonus for the year in which Executive’s termination of employment occurs, prorated for Executive’s actual employment period during such year and adjusted for performance. Except as expressly provided
in this Section 4(a), the Company shall have no obligation to make any other payment, including severance or other compensation, of any kind and all other benefits provided by the Company to Executive under this Agreement or otherwise shall cease as
of Executive’s termination date. 
  
 (b) Termination Upon
Disability. The Company may terminate Executive’s employment in the event Executive suffers a disability that renders Executive unable, as determined in good faith by the Board, to perform the essential functions of his position,
even with reasonable accommodation, for six (6) consecutive months. In the event that Executive’s employment is terminated pursuant to this Section 4(b), Executive shall receive payment for any earned and unpaid Base Salary as of
Executive’s employment termination date (which for purposes of this Section 4(b) shall be the date specified by the Board); accrued but unused vacation time as of the end of the month in which the termination of employment for disability
occurs; the amount of any unreimbursed expenses described in Section 2(f), which were incurred by Executive before his termination date; and benefits that Executive is then entitled to receive under applicable benefit plans of the Company. All of
the foregoing payments and benefits shall be paid less all applicable federal, state or local taxes and other normal payroll deductions, if any. In addition, after Executive’s termination date, Executive shall receive long term disability
benefits under the applicable benefit plans of the Company to the extent Executive qualifies for such benefits. Except as expressly provided in this Section 4(b), all benefits provided by the Company to Executive under this Agreement or otherwise
shall cease as of Executive’s termination date. In the event that Executive’s employment is terminated as a result of a determination pursuant to this Section 4(b), and provided that Executive has executed a general release
in form and substance satisfactory to the Company and substantially similar to Exhibit A hereto, 
  

 4 

 the Company also shall provide to Executive as severance the payment of an amount equal to Executive’s highest Base
Salary during the twelve (12) month period prior to the termination date and the target Bonus for the year in which such termination occurs, less all applicable federal, state or local taxes and other normal payroll deductions, payable in equal
installments on the Company’s regular pay schedule over a period of twelve (12) months. 
  
 (c) Voluntary Termination. Executive may voluntarily terminate his employment with the Company at any time. In the event that Executive’s employment is terminated under this Section 4(c), Executive
shall receive payment for any earned and unpaid Base Salary as of Executive’s voluntary employment termination date (which for purposes of this Section 4(c) shall be the date Executive ceases to perform his duties hereunder as stated in
Executive’s letter of resignation or as specified by the Board); accrued but unused vacation time as of Executive’s termination date; the amount of any unreimbursed expenses described in Section 2(f), which were incurred by Executive
before his termination date; and benefits Executive is then entitled to receive under applicable benefit plans of the Company. All of the foregoing payments and benefits shall be paid less all applicable federal, state or local taxes and other
normal payroll deductions, if any. Except as expressly provided in this Section 4(c), the Company shall have no further obligation to pay any compensation of any kind or severance payment of any kind nor to make any further payment in lieu of notice
and all benefits provided by the Company to Executive under this Agreement or otherwise shall cease as of the termination date. 
  
 (d) Termination for Cause. 
  
 (1) Termination; Payment of Salary and Vacation. The Board may terminate Executive’s employment with the Company at any time for
“cause” (as defined below). In the event that Executive’s employment is terminated for cause under this Section 4(d), Executive shall receive payment for all earned but unpaid Base Salary as of Executive’s employment
termination date (which for purposes of this Section 4(d) shall be the date specified by the Board); accrued but unused vacation time as of Executive’s termination date; the amount of any unreimbursed expenses described in Section 2(f), which
were incurred by Executive before his termination date; and benefits Executive is then entitled to receive under applicable benefit plans of the Company. All of the foregoing payments and benefits shall be paid less all applicable federal, state or
local taxes and other normal payroll deductions. Except as expressly provided in this Section 4(d), the Company shall have no further obligation to pay any compensation of any kind nor to make any payment in lieu of notice and all benefits provided
by the Company to Executive under this Agreement or otherwise shall cease as of the termination date. 
  
 (2) Definition of Cause. For purposes of this Agreement, the Company shall have “cause” to terminate Executive’s employment upon
the occurrence of any of the following: (a) a material breach by Executive of the terms of this Agreement; (b) any act of theft, misappropriation, embezzlement, intentional fraud or similar conduct by Executive involving the Company or any
affiliate; (c) the conviction or 
  

 5 

 the plea of nolo contendere or the equivalent in respect of a felony involving an act of dishonesty, moral
turpitude, deceit or fraud by Executive; (d) any damage of a material nature to the business or property of the Company or any affiliate caused by Executive’s willful or grossly negligent conduct; or (e) Executive’s failure to act in
accordance with any specific lawful instructions given to Executive in connection with the performance of his duties for the Company or any affiliate. 
  
 (e) Termination Without Cause. The Company at any time without prior written notice may terminate Executive’s employment without cause. In the
event Executive’s employment is terminated without cause, Executive shall receive payment for all earned but unpaid Base Salary as of Executive’s termination date (which for purposes of this Section 4(e), shall be the date specified by the
Board); accrued but unused vacation time as of Executive’s termination date; the amount of any unreimbursed expenses described in Section 2(f), which were incurred by Executive before his termination date; and benefits the Executive is then
entitled to receive under applicable benefit plans of the Company. All of the foregoing payments and benefits shall be paid less all applicable federal, state or local taxes and other normal payroll deductions, if any. In the event Executive’s
employment is terminated without cause under this Section 4(e), and provided that Executive has executed a general release in form and substance satisfactory to the Company and substantially similar to Exhibit A hereto, the
Company also shall provide to Executive as severance (i) the payment of an amount equal to Executive’s highest Base Salary during the twelve (12) month period prior to the termination date, and the target Bonus for the year in which such
termination of employment occurs, less all applicable federal, state, or local taxes and other normal payroll deductions, payable in equal installments on the Company’s regular pay schedule over a period of twelve (12) months; (ii) continuation
of Executive’s participation in the Company’s health and welfare benefits (other than disability benefits) until the earlier of (x) twelve (12) months following Executive’s termination or (y) such time as Executive is covered by
comparable programs of a subsequent employer; (iii) continuation of Executive’s participation in any management perquisites applicable to Executive until the earlier of (x) twelve (12) months following Executive’s termination or (y) such
time as Executive is covered by comparable perquisites of a subsequent employer; (iv) the payment to Executive, at the end of the fiscal year in which Executive’s termination occurs, of a pro rata portion of Executive’s target Bonus for
the year in which Executive’s termination occurs, prorated for Executive’s actual employment period during such year and adjusted for performance; and (v) the provision of not less than eighteen (18) months of executive-level outplacement
services at Company expense; provided, however, the expense for such services in any calendar year shall not exceed eighteen percent (18%) of the amount equal to Executive’s highest Base Salary during the twelve (12) month period
prior to the termination date and the target Bonus for the year in which such termination occurs. Except as specifically provided in this Section 4(e), no other compensation of any kind or severance or other payment of any kind shall be payable by
the Company after such termination date and all benefits provided by the Company to Executive under this Agreement or otherwise shall cease as of the termination date. 
  

 6 

 (f) Termination for Good Reason. Notwithstanding anything in this Section 4 to the contrary,
Executive may voluntarily terminate his employment with the Company and, provided that Executive has executed a general release in form and substance satisfactory to the Company and substantially similar to Exhibit A hereto,
receive the benefits detailed in clause 4(e) upon or within ninety (90) days following the occurrence of an event constituting “Good Reason,” which for purposes of this Section 4(f) shall mean any of the following: (i) a material adverse
change in Executive’s position causing it to be of materially less stature, responsibility, or authority without Executive’s written consent, and such a materially adverse change shall in all events be deemed to occur if Executive no
longer serves as Executive Vice President, Human Resources, unless Executive consents in writing to such change; (ii) a reduction, without Executive’s written consent, in Executive’s Base Salary or the Bonus Executive is eligible to earn
under the AIP (or successor plan thereto), or Executive’s incentive or equity opportunity under any material incentive or equity program of the Company, provided, however, that nothing herein shall be construed to guarantee
Executive’s Bonus for any year if the applicable performance targets are not met; and provided further that it shall not constitute Good Reason hereunder if the Company makes an appropriate pro rata adjustment to the
applicable Bonus and targets under the annual cash bonus plan in the event of a change in the Company’s fiscal year; (iii) a material reduction without Executive’s consent in the aggregate health and welfare benefits provided to Executive
pursuant to the health and welfare plans, programs and arrangements in which Executive is eligible to participate; or (iv) the failure of the Company to obtain a satisfactory agreement from any successor to assume and agree to perform this
Agreement. Unless Executive provides written notification of an event described in clauses (i) through (iv) above within ninety (90) days after Executive knows or has reason to know of the occurrence of any such event, Executive shall be deemed to
have consented thereto and such event shall no longer constitute Good Reason for purposes of this Agreement. If Executive provides such written notice to the Company, the Company shall have ten (10) business days from the date of receipt of such
notice to effect a cure of the event described therein and, upon cure thereof by the Company to the reasonable satisfaction of Executive, such event shall no longer constitute Good Reason for purposes of this Agreement. 
  
 (g) Termination Upon Change of Control. In the event of
Executive’s Termination Upon Change of Control (as defined below), Executive shall receive the benefits detailed in Section 4(e) on the terms and conditions set forth therein, including Executive’s execution of a release in form and
substance satisfactory to the Company and substantially similar to Exhibit A hereto, provided, however, that the payment set forth in Section 4(e)(i) shall be made in a lump sum, to be paid within thirty (30) days of
Executive’s termination date, and not in installments over a twelve (12) month period as provided in Section 4(e)(i). Except as specifically provided in this Section 4(g), no other compensation of any kind or severance or other payment of any
kind shall be payable by the Company to Executive after Executive’s termination date. Any amounts due Executive under this Section 4(g) are in the nature of severance payments, or liquidated damages which contemplate both direct damages and
consequential damages that may be suffered as a result of Executive’s termination of employment, and are not in 
  

 7 

 the nature of a penalty. For purposes of this Section 4(g) “Termination Upon Change of Control” means
(i) the termination of Executive’s employment by the Company without cause during the period commencing on the date the “Change of Control” (as defined in the Company’s 2002 Stock Incentive Plan) occurs and ending on the date
which is eighteen (18) months after the Change of Control; or (ii) any resignation by Executive for Good Reason within eighteen (18) months after the occurrence of a Change of Control; but (iii) “Termination Upon Change of Control” shall
not include any termination of Executive’s employment by the Company for cause, as a result of the death or disability of Executive, or as a result of the voluntary termination of Executive’s employment for reasons other than Good Reason.

  
 (h) At-Will Employment. Executive understands and
agrees that his employment with the Company is at-will, which means that either Executive or the Company may, subject to the terms of this Agreement, terminate this Agreement at any time with or without cause and with or without notice. Any
modification of the at-will nature of this Agreement must be in writing and executed by Executive and the Company. 
  
 (i) Ongoing Obligations. Executive acknowledges that the Company and Executive have ongoing rights and obligations relating to intellectual
property and confidential information of the Company, together with fiduciary rights and obligations, which will survive the termination of Executive’s employment. 
  
 5. Indemnification. In the event Executive is made, or threatened to be made, a party to any legal
action or proceeding, whether civil or criminal, by reason of the fact that Executive is or was a director or officer of the Company or serves or served any other corporation fifty percent (50%) or more owned or controlled by the Company in any
capacity at the Company’s request, Executive shall be indemnified by the Company, and the Company shall pay Executive’s related expenses when and as incurred, all to the fullest extent permitted by the laws of the State of Delaware, and
the Company’s Certificate of Incorporation and Bylaws. 
  
 6. Proprietary Information Obligations. During Executive’s employment by the Company, Executive will have access to and become acquainted with the Company’s confidential and proprietary information (collectively
“Proprietary Information”), including but not limited to information or plans regarding the Company’s customer relationships; personnel; technology and intellectual property; sales, marketing and financial operations and
methods; and other compilations of information, records and specifications. Executive shall not disclose any Proprietary Information of the Company, or of any affiliate, directly or indirectly, to any person, firm, corporation or other entity for
any reason or purpose whatsoever, nor shall Executive make use of any such Proprietary Information for his own purposes or for the benefit of any person, firm, corporation or other entity (except the Company and the affiliate) under any
circumstances, during or after the term of this Agreement, except as reasonably necessary in the course of his employment for the Company or as authorized in writing by the Company. All files, records, documents, computer-recorded or electronic
information and similar items relating to the business of the Company or the affiliate, 
  

 8 

 whether prepared by Executive or otherwise coming into his possession, shall remain the exclusive property of the Company
or the affiliate, respectively, and Executive agrees to return all property of the Company or the affiliate in his possession and under his control immediately upon any termination of Executive’s employment, and no copies thereof shall be kept
by Executive. 
  
 7. Noninterference. 
  
 (a) While employed by or compensated by the Company pursuant to this
Agreement and for a period of two (2) years thereafter, Executive agrees not to: (i) directly or indirectly, either on Executive’s own account or for any company, limited liability company, partnership, joint venture or other entity or person
(including, without limitation, through any existing or future affiliate), solicit any employee of the Company or any existing or future affiliate to leave his or her employment or knowingly induce or knowingly attempt to induce any such employee to
terminate or breach his or her employment agreement with the Company or any existing or future affiliate, if any; or (ii) directly or indirectly (including, without limitation, through any existing or future affiliate), solicit, cause in any part or
knowingly encourage any current or future customer of or supplier to the Company or any existing or future affiliate to modify the business relationship, or cease doing business in whole or in part, with the Company or any such affiliate.

  
 (b) In the event a court of competent jurisdiction or other
tribunal or person(s) mutually selected by the parties to resolve any dispute (collectively a “Court”) has determined that Executive has violated the provisions of this Agreement, the running of the time period of such provisions so
violated shall be automatically suspended as of the date of such violation and shall be extended for the period of time from the date such violation commenced through the date that the Court determines that such violation has permanently ceased.

  
 8. Injunctive Relief. The parties hereto
agree that damages would be an inadequate remedy for the Company in the event of a breach or threatened breach of Sections 6 or 7 of this Agreement by Executive, and in the event of any such breach or threatened breach, the Company may, either with
or without pursuing any potential damage remedies, obtain and enforce an injunction prohibiting Executive from violating this Agreement and requiring Executive to comply with the terms of this Agreement. 
  
 9. Warranties and Representations. Executive hereby represents
and warrants to the Company that he: 
  
 (a) is not now under any
obligation of a contractual or quasi-contractual nature known to him that is inconsistent or in conflict with this Agreement or that would prevent, limit or impair the performance by Executive of his obligations hereunder; and 
  

 9 

 (b) has been or has had the opportunity to be represented by legal counsel in the preparation,
negotiation, execution and delivery of this Agreement and understands fully the terms and provisions hereof. 
  
 10. Miscellaneous. 
  
 (a) Notices. Any notice or communication required or permitted by this Agreement shall be deemed sufficiently given if in writing and, if delivered
personally, when it is delivered or, if delivered in another manner, including without limitation, by facsimile (with confirmation of receipt and a confirmation copy sent by U.S. Mail or overnight delivery), the earlier of when it is actually
received by the party to whom it is directed or when the period set forth below expires (whether or not it is actually received): (i) if deposited with the U.S. Postal Service, postage prepaid, and addressed to the party to receive it as set forth
below, forty-eight (48) hours after such deposit as registered or certified mail; or (ii) if accepted by Federal Express or a similar delivery service in general usage for delivery to the address of the party to receive it as set forth next below,
twenty-four (24) hours after the delivery time promised by the delivery service. 
  

	
	 To the Company:

	
	 Del Monte Foods Company

	 One Market at The Landmark

	 P.O. Box 193575

	 San Francisco, California 94119-3575

	 Fax: 415/247-3263

	 Attention: Board of Directors and Secretary

	
	 With a copy to:

	
	 Gibson, Dunn & Crutcher LLP

	 One Montgomery Street

	 San Francisco, California 94104-4505

	 Fax: 415/986-5309

	 Attention: Douglas D. Smith, Esq.

	
	 To Executive:

	
	 Nils Lommerin

	 1311 Galanti Court

	 Pleasanton, California 94566

	
	 With a copy to:

	
	 McCarter & English, LLP

	 Four Gateway Center

	 100 Mulberry Street

	 Newark, New Jersey 07102-4056

	 Fax: 973/624-7070

	 Attention: Joseph R. Scholz, Esq.

  
 or to such other address or to the
attention of such other person as the recipient party will have specified by prior written notice to the sending party. 
  

 10 

 (b) Severability. If any term or provision (or any portion thereof) of this Agreement is
determined by a court to be invalid, illegal or incapable of being enforced by any rule of law or public policy, all other terms and provisions (or other portions thereof) of this Agreement shall nevertheless remain in full force and effect. Upon
such determination that any term or provision (or any portion thereof) is invalid, illegal or incapable of being enforced, this Agreement shall be deemed to be modified so as to effect the original intent of the parties as closely as possible to the
end that the transactions contemplated hereby and the terms and provisions hereof are fulfilled to the greatest extent possible. 
  
 (c) Entire Agreement. This Agreement, including any documents incorporated by reference herein, contains the Company’s entire understanding
with Executive related to the subject matter hereof, and supersedes and preempts any prior or contemporaneous understandings, agreements, or representations by or between the parties, written or oral. Without limiting the generality of the
foregoing, except as provided in this Agreement, all understandings and agreements, written or oral, relating to the employment of Executive by the Company, or the payment of any compensation or the provision of any benefit in connection therewith
or otherwise are hereby terminated and shall be of no future force and effect. 
  
 (d) Counterparts. This Agreement may be executed on separate counterparts, any one of which need not contain signatures of more than one party, but all of which taken together will constitute one and the same
agreement. Signatures may be exchanged by electronic facsimile with machine evidence of transmission. 
  
 (e) Successors and Assigns. This Agreement is intended to bind and inure to the benefit of and be enforceable by Executive and the Company, and the
Company’s successors and assigns. Executive may not assign any of his duties or rights under this Agreement without the prior written consent of the Company, which consent will not unreasonably be withheld. Except for Executive’s estate or
designated beneficiary under Section 4(a), nothing in this Agreement, express or implied, is intended to confer upon any third person any rights or remedies under or by reason of this Agreement. 
  
 (f) Attorneys’ Fees. If any legal proceeding is necessary to
enforce or interpret the terms of this Agreement, or to recover damages for breach thereof, the prevailing party shall be entitled to reasonable attorneys’ fees, as well as costs and disbursements, in addition to any other relief to which he or
it may be entitled. 
  
 (g) Amendments. No amendments or
other modifications to this Agreement may be made except by a writing signed by both parties. 
  
 (h) Choice of Law. All questions concerning the construction, validity and interpretation of this Agreement will be governed by the internal law, and not the law of conflicts, of the State of California except
as otherwise provided in Section 10(b) above. 
  

 11 

 (i) Further Assurances. Each of the parties hereto agrees to use all reasonable efforts to take or
cause to be taken, all appropriate actions, and to cause to take or to be taken, all things necessary, proper or advisable under applicable laws to effect the transactions contemplated by this Agreement, including without limitation, execution and
delivery to the Company of such representations in writing as may be requested by the Company in order for its to comply with applicable federal and state securities laws. 
  
 (j) Fees and Expenses Relating to Agreement. Each of the parties hereto shall bear its own fees and expenses incurred
in connection with the preparation of this Agreement and the transactions contemplated hereby. 
  
 IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the date set forth above. 
  

			
	EXECUTIVE:
	
	 /s/ Nils Lommerin

	 Nils Lommerin

	
	COMPANY:
	
	DEL MONTE FOODS COMPANY
		
	 By:
	 	 /s/ David L. Meyers

	 	 	 David L. Meyers

	 	 	 Executive Vice President

	 	 	 Administration and Chief Financial Officer

  

 12 

 EXHIBIT A 
  
 GENERAL RELEASE 
  
 I, Nils Lommerin (“Executive”), agree as follows (“Release”): 
  
 Executive hereby releases, acquits and forever discharges Del Monte Foods Company (“the Company”) and each of its
officers, directors, agents, servants, employees, attorneys, shareholders, successors, assigns and affiliates (the “Releasees”) of and from any and all claims, liabilities, demands, causes of action, costs, expenses, attorneys’
fees, damages, indemnities and obligations of every kind and nature, in law, equity, or otherwise, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way related to agreements, events, acts or conduct
at any time prior to and including the execution date of this Release, including but not limited to, all such claims and demands directly or indirectly arising out of or in any way connected with Executive’s employment with the Company or the
termination of that employment; claims or demands related to salary, bonuses, commissions, stock, stock options, or any other ownership interests in the Company, vacation pay, fringe benefits, expense reimbursements, severance pay, or any other form
of compensation; claims pursuant to any federal, state or local law, statute, or cause of action including, but not limited to, the federal Civil Rights Act of 1964, as amended, the federal Americans with Disabilities Act of 1990, the federal Age
Discrimination in Employment Act of 1967, as amended (“ADEA”), the antidiscrimination statutes of California or other states; tort law; contract law; wrongful discharge; discrimination; harassment; fraud; defamation; emotional
distress; and breach of the implied covenant of good faith and fair dealing. 
  
 [THIS SECTION ONLY IF EXECUTIVE IS 40 YEARS OR OLDER Executive acknowledges that he is knowingly and voluntarily waiving and releasing any rights he may have under the ADEA. Executive also acknowledges that the
consideration given for the waiver and release in the preceding paragraph hereof is in addition to anything of value to which he was already entitled. 
  
 Executive acknowledges his understanding that he may take twenty-one (21) days to consider this Release and that he has been advised that he should
consult with an attorney, if he decides to do so, prior to executing this Release. Executive further acknowledges that he has seven (7) days following the execution of this Release by the parties to revoke the Release; and this Release will not be
effective until the date upon which the revocation period has expired, which will be the eighth day after this Release is executed by Executive, provided that the Company has also executed this Release by that date (“Effective
Date”).] 
  
 Executive understands and agrees that
this Release includes claims which may be unknown to Executive at present, and that Executive has read and understands Section 1542 of the California Civil Code, which reads as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE
CREDITOR 

 DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM, MUST HAVE
MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.” Executive hereby expressly waives and relinquishes any and all rights under Section 1542 with respect to Executive’s release of any unknown or unsuspected claims Executive may have
against the Releasees. 
  
 Executive agrees not to commence any
proceeding in court against the Company in connection with the matters released herein and that the only cause of action Executive could have against the Company after the date hereof would be for a breach of this Release or for matters arising
after the date hereof. 
  

			
	Date:[DO NOT DATE; EXHIBIT ONLY]	 	By:[DO NOT SIGN; EXHIBIT ONLY]

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