Document:

Long-Term Incentive Progran Amended and Restated 2003-2005 Terms

 Exhibit 10-k 
  
 CHIQUITA BRANDS INTERNATIONAL, INC. 
 LONG-TERM INCENTIVE PROGRAM 
 AMENDED AND RESTATED 2003-2005 TERMS 
  
 1. General. Chiquita Brands International, Inc. (the “Company”) has
established a Long-Term Incentive Program (the “LTIP”) under the Company’s Amended and Restated 2002 Stock Option and Incentive Plan (the “2002 Plan”), which was approved by the shareholders of the Company on May 22, 2003 at
the 2003 Annual Meeting of Shareholders. These 2003-2005 Terms set forth the terms of Awards granted for 2003, 2004 and 2005 under the LTIP. Awards for 2004 and 2005 are intended to be “performance-based compensation” for purposes of
Section 162(m) of the Internal Revenue Code. All capitalized terms not otherwise defined in these 2003-2005 Terms shall be as defined in the LTIP and the 2002 Plan. 
  
 2. Determination of Awards. 
  

	 	a.	Each Participant listed on Schedule A shall be eligible for an Award for each of calendar years 2003, 2004 and 2005 (each of which is referred to herein as an “Award
Year”). Such Awards shall be determined in accordance with Schedules B, C and D based on achievement of the applicable Performance Measures set forth therein. 

  

	 	b.	If a Participant’s employment is terminated for Cause during an Award Year, the Participant shall not be entitled to any Award for that Award Year. If a Participant’s
employment terminates during any such Award Year for any reason other than for Cause, the Participant’s Award for the applicable Award Year shall be payable as though the Participant was employed on the last day of that Award Year, but subject
to such reduction or voiding of the Award as the Compensation Committee of the Company’s Board of Directors (the “Committee”), in its absolute discretion, determines to be appropriate. Subject to paragraph 3, any portion of an Award
not so voided shall be deliverable to the Participant at such time and on such terms as the Committee shall determine. 

  
 3. Determination of Award Amount. A Participant shall be entitled to receive an Award for an Award Year only if the Committee has determined that the
applicable Performance Measures for that Award Year have been attained. Such determination shall be made as soon as practicable after the end of the Award Year to which an Award relates. To the extent that the Committee exercises discretion in
making such determination for Awards for 2004 or 2005, such exercise of discretion may not result in an increase in the amount of the award. 
  
 4. Distribution and Vesting. Distributions and vesting of Awards are subject to the following: 
  

	 	a.	If a Participant is entitled to receive an Award for an Award Year, then, as soon as practicable after the date on which the determination described in paragraph 3 above has been
made, the Participant shall be granted Shares of Common Stock, subject to the vesting provisions applicable to such Award. The number of Shares of Common Stock granted shall equal the amount of the Award divided by the Fair Market Value of a Share
on the date of grant. (Any fractional Shares shall be rounded up to a whole Share.) Such Shares shall not be issued or delivered to the Participant until the related Award vests. 

	 	b.	A Participant will become vested in Awards for particular Award Years on the following dates (each a “Vesting Date”). 

  

			
	 Award Year

	 	 Vesting Date

	 2003
	 	January 1, 2005
		
	 2004
	 	January 1, 2006
		
	 2005
	 	January 1, 2007

  
 Notwithstanding the
foregoing, if a Participant’s employment terminates prior to the Vesting Date for an Award, unless the Committee determines otherwise (including in connection with a decision not to void an Award pursuant to paragraph 2(b) above), the
Participant shall forfeit such Award (and the Shares associated therewith) as of the date of such termination; provided, however, that such Award (and related Shares) shall become fully vested in accordance with the provisions of the 2002 Plan in
the event of a Change of Control or termination of employment due to death, Disability or Retirement. 
  
 5. Amendment. The Committee may amend the provisions of these 2003-2005 Terms and the attached Schedules relating to Awards for 2004 and 2005 (including, without limitation, revision of the list of
Participants in Schedule A) with respect to either such year prior to the 90th day of such year to reflect corporate
transactions involving the Company (including, without limitation, any acquisition, divestiture, stock dividend, stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination or
exchange of shares); provided that such amendment may not be adopted on a date or in a manner which would adversely affect the treatment of the award as Performance Based Compensation. 
  
 6. Adoption by Committee. The Committee originally approved the 2003-2005 Terms on April 3, 2003, but only with respect to
Awards for 2003. The Committee approved these Amended and Restated 2003-2005 Terms on August 8, 2003 with respect to Awards for 2003, 2004 and 2005. Except as otherwise provided in these 2003-2005 Terms, all Awards granted pursuant to these Terms
shall be subject to and entitled to all applicable rights and benefits provided in, the LTIP and the 2002 Plan, including the provisions therein applicable to Restricted Stock.Letter Agreemen dated  July 24, 2004 between Chiquita and Cyrus F. Feidheim

 Exhibit 10-v 
  
 [Logo] 
 Chiquita 
 Brands 
 International 

 
 CYRUS F. FREIDHEIM, JR. 
 Chairman of the Board 
 Chief Executive Officer 
  
 CONFIDENTIAL 
  
 July 23, 2003 
  
 Mr. Jeffrey Benjamin 
 Apollo Management, L.P. 
 1301 Avenue of the Americas 
 New York, New York 10019 
  
 Dear Jeff: 
  
 For good order, I believe it would be desirable to put our agreement on CEO comp in the record. 
  
 We are beginning the search now with the target of completing it by year end.
The preference would be for me to remain as Chairman for a period to be determined when we elect a new CEO. 
  
 Compensation arrangements would be: 
  

	 	•	Normal salary and bonus through year end 2003 or beyond if I continue as CEO. 

  

	 	•	30,000 shares of restricted stock in January 2004 with two year vesting. 

  

	 	•	Continued eligibility for awards under the Long Term Incentive Program for the performance years 2004 and 2005. 

  

	 	–	Specifically, on plan performance would result in awards of $1,185K for each year in restricted stock with two year vesting.* The same proportionate awards would be made for over
and under plan performance as for other plan participants. 

  

	 	–	Eligibility would depend on my continuation as director. 

  

	 	•	No other special compensation would be paid for my work as non-executive chairman beyond normal director’s fees. 

  
 250 East Fifth Street, Cincinnati, Ohio 45202 U.S.A. 
 (513) 784-8985 / Fax: (513) 564-2934 
 eMAIL:
cfreidheim@chiquita.com 
  
 * Now one year. At the time this letter was signed,
the Compensation & Organizational Development Committee was considering 2-year vesting of restricted stock awards made under the Long Term Incentive Program. As actually approved by the Committee on August 8, 2003, the restricted stock vests
after one year. 

 Mr. Jeffrey Benjamin 
 July
23, 2003 
 Page Two 
  
 Stock options and restricted stock grants and awards would vest if I were to leave the board at the board’s request, for health reasons or after
January 1, 2004 at the government’s request. Should that occur I would forfeit eligibility for unearned LTIP restricted stock awards. 
  
 Exercise rights on stock options would extend for the normal period for a retirement (i.e., 3 years). 
  

									
	 Approved on behalf of the
 Compensation Committee of the Board:
	 	 	 	 Agreed:

			
	 /s/    JEFFREY D.
BENJAMIN        

	 	 	 	 /s/    CYRUS F. FREIDHEIM,
JR.        

	 Jeffrey D. Benjamin
 Chairman
	 	 	 	Cyrus F. Freidheim, Jr.
			
	 7-24-03

	 	 	 	 7-23-04

	 Date
	 	 	 	DateForm of Restricted Share Agreement with Cyrus F. Freidheim

 Exhibit 10-w 
  
 CHIQUITA BRANDS INTERNATIONAL, INC. 
 2002 STOCK OPTION AND INCENTIVE PLAN 
 RESTRICTED STOCK AWARD AND AGREEMENT 
  
 Congratulations! You have been awarded a restricted stock award under the Long-Term Incentive
Program (the “LTIP”) of the Amended and Restated Chiquita 2002 Stock Option and Incentive Plan (the “Plan”). 
  
 GRANT : Chiquita Brands International, Inc., a New Jersey corporation (“Company”), hereby awards to you (the “Grantee” named below) restricted
shares of the Company’s Common Stock, par value $.01 per share (“Shares”), subject to the forfeiture provisions and other terms of this Agreement. The Shares will be issued at no cost to you on the Vesting Date set forth below,
provided that you continue to serve as a director of the Company (“Service”) on the Vesting Date. Please read this Agreement carefully and return one copy as requested below. Unless otherwise provided in this Agreement, capitalized terms
have the meanings specified in the Plan. 
  

							
	 Grantee:

	 	 No. of Shares:

	 	 Grant Date:

	 	 Vesting Date:

	 Cyrus F. Freidheim, Jr.
	 	43,359	 	February 20, 2004	 	January 1, 2005

  
 VESTING: All of the Shares will
vest (become deliverable) on January 1, 2005 or, if earlier, upon a Change of Control of the Company (the “Vesting Date”); subject, however, to the forfeiture provisions set forth below. Notwithstanding the foregoing, you may elect, by
filing a written election with the Company prior to the date of a Change of Control, to waive all or a portion of your rights to vest in this award by reason of the Change of Control. If your Service terminates because of your death or Disability or
at the request of the Board of Directors of Chiquita (other than for Cause) or of a U.S. government agency, all the Shares issuable under this award will vest on such termination. Except to the extent provided in the preceding sentence, this award
will not vest upon your Retirement. On the Vesting Date (or promptly thereafter), the Company will deliver to you a certificate representing the Shares which have vested on such date. 
  
 NO RIGHTS AS SHAREHOLDER PRIOR TO VESTING: Prior to the Vesting Date, you will have no rights as a shareholder of the Company with
respect to the Shares to be issued on or after the Vesting Date. 
  
 FORFEITURE
OF SHARES: In the event your Service terminates for any reason (other than as a result of your death, Disability or a request by the Board of Directors or U.S. government agency, as specified under Vesting, above), then all unvested Shares
subject to this award will be forfeited as of the date of termination of your Service and any rights with respect to such forfeited Shares will immediately cease. 
  
 CONFIDENTIALITY, NON-COMPETITION AND NON-SOLICITATION: In consideration of your receipt of this award, you agree as follows:

  
 (a) You will hold in a fiduciary capacity for the benefit of the Company all
information, knowledge or data relating to the Company or any Subsidiaries and their respective businesses which the Company or any Subsidiaries consider to be proprietary, trade secret or confidential that you obtain or have previously obtained
during your Service and that is not public knowledge (other than as a result of your violation of this provision) (“Confidential Information”). You will not directly or indirectly use any Confidential Information for any purpose not
associated with the activities of the Company or any Subsidiaries, or communicate, divulge or disseminate Confidential Information to any person or entity not authorized by the Company or any Subsidiaries to receive it at any time during or after
your Service, except with the prior written consent of the Company or as otherwise required by law or legal process. 
  
 (b) For a period of two years after the termination of your Service, for any reason, voluntary or involuntary, you will not, without the written consent of the Company,
directly or indirectly, engage or hold an interest in any company listed in Exhibit A, or any subsidiary or affiliate of such company (the “Competing Businesses”), or directly or indirectly have any interest in, own, manage, operate,
control, be connected with as a stockholder (other than as a holder of less than five percent (5%) of any class of publicly traded securities of any such Competing Business). 
  
 (c) For a period of one year after the termination of your Service, for any reason, you will not, without the written consent of the
Company, directly or indirectly solicit, entice, persuade or induce any person to leave the employment of the Company or any Subsidiaries (other than persons employed in a clerical, non-professional or non-management position). 

 (d) You understand and agree that the restrictions set forth above, including, without limitation, the duration, and the
business scope of such restrictions, are reasonable and necessary to protect the legal interests of the Company. You further agree that the Company will be entitled to seek injunctive relief in the event of any actual or threatened breach of such
restrictions. If any provision of this Agreement is determined to be unenforceable by any court, then such provision will be modified or omitted only to the extent necessary to make the remaining provisions of this Agreement enforceable. 

 
 TAXES: You must pay all applicable U.S. federal, state and local taxes resulting
from the grant of this award and the issuance of the Shares upon vesting of this award. 
  
 CONDITIONS: This award is governed by and subject to the terms and conditions of the Plan and the LTIP, which contain important provisions of this award and form a part of this Agreement. Copies of the Plan and the LTIP are being
provided to you, along with a summary of the Plan. If there is any conflict between any provision of this Agreement and the Plan, this Agreement will control, unless the provision is not permitted by the Plan, in which case the provision of the Plan
will apply. Your rights and obligations under this Agreement are also governed by and are subject to applicable U.S. laws and foreign laws. 
  
 AGREEMENT: To acknowledge your agreement to the terms and conditions of this award, please sign and return one copy of this Agreement to the Corporate
Secretary’s Office, Attention: Barbara Howland. 
  

							
	CHIQUITA BRANDS INTERNATIONAL, INC.	  	 	  	 Complete Grantee Information below:

				
	 By:
	 	  

	  	 	  	

	 	 	 Barry Morris, Vice President
	  	 	  	 Home Address (including country)

	 	 	 Human Resources
	  	 	  	 
				
	 By:
	 	  

	  	 	  	

	 	 	 	  	 	  	  

	 Date Agreed To:

	  	 	  	  

	 	  	 	  	 U.S. Social Security Number (if applicable)

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