Document:

Exhibit 10.2

                          SETTLEMENT AGREEMENT II

     This Settlement  Agreement II  ("Agreement") is made, as of August 14,
2006 (the "Effective Date"),  among Delta and Pine Land Company, a Delaware
corporation   with  its  principal   offices  at  One  Cotton  Row,  Scott,
Mississippi 38772 ("DPL"),  D&M Partners,  a Delaware  partnership with its
principal offices at One Cotton Row, Scott,  Mississippi 38772 ("D&M"), and
Monsanto  Company,  a  Delaware  corporation  with its  principal  place of
business at 800 N. Lindbergh Blvd., St. Louis, Missouri 63167 ("Monsanto").

     WHEREAS,  DPL and Monsanto have on this date entered into an Agreement
and Plan of Merger ("Merger Agreement"); and

     WHEREAS,  over the course of their  dealings the Parties have a number
of pending disputes,  identified below, that have not become the subject of
arbitration or litigation proceedings (the "Subject Disputes"); and

     WHEREAS,  the Parties have come to certain  agreements  in  connection
with the Subject Disputes on terms set forth in this Agreement; and

     WHEREAS, the Parties may have other claims against each other, whether
asserted or as yet  unasserted,  which are intended to be preserved and not
released or affected by this Agreement;

     NOW, THEREFORE, in consideration of the mutual agreements,  covenants,
and  commitments set forth herein,  the Parties  understand the meaning and
legal effect of entering into this Agreement and hereby agree as follows:

     1.  DEFINITIONS.   For  purposes  of  this  Agreement,  the  following
definitions shall apply to the terms set forth below, and such terms may be
used either in the singular or plural context:

     (a)  "AFFILIATE"  shall mean, with respect to a Party, any Person that
          directly   or   indirectly,   whether   through   one   or   more
          intermediaries,  Controls,  is Controlled  By, or is under Common
          Control with a Party.

     (b)  "CLAIM" shall mean any and all claims,  demands,  actions, causes
          of action, suits, damages, liabilities,  judgments, debts, claims
          over, accounts,  warranties, liens, costs or expenses whatsoever,
          wherever  arising,  and whether  based in contract law, tort law,
          equity, statute, or regulation, whether known or unknown. A Claim
          shall  include,  but not be limited  to,  any and all  actions or
          claims for injunctive relief, patent infringement,  violations of
          the antitrust or competition laws, false  advertising,  unfair or
          deceptive  acts  or  practices,  product  disparagement,   unfair
          competition,  restraint of trade, trade secret  misappropriation,
          breach  of  contract,   conversion,   fraud,  deceit,   contempt,
          violations of court orders or injunctions, costs, and/or attorney
          fees.  A Claim  shall  not  include  any  payments  due or  other
          obligations  owed  under  contracts  or  agreements  between  the
          Parties  or one or more of  their  Affiliates  made  prior to the
          Effective Date of this  Agreement  that have not been  terminated
          herein  or that  were  not  otherwise  at  issue  in the  Subject
          Disputes.

     (c)  "CONTROL,"  "CONTROLLED BY," or "UNDER COMMON CONTROL WITH" shall
          mean (i) the  ownership,  directly  or  indirectly,  of more than
          fifty percent  (50%) of the voting  equity  interest in a Person,
          and (ii) the ability,  directly or indirectly, to direct or cause
          the  direction  of the  management  and  policies of that entity,
          whether through ownership of voting securities,  by contract,  or
          otherwise.

     (d)  "DPL  PARTIES"  shall  mean Delta and Pine Land  Company  and D&M
          Partners.

     (e)  "MONSANTO PARTIES" shall mean Monsanto Company ("Monsanto").

     (f)  "PARTIES"  shall mean the DPL Parties and the  Monsanto  Parties.
          "PARTY" shall mean one of DPL, D&M Partners, or Monsanto.

     (g)  "PERSON" shall mean any individual, corporation,  proprietorship,
          firm, partnership, limited liability company, trust, association,
          or other form of business  entity,  whether formed under the laws
          of any state of the United States,  the District of Columbia,  or
          the  laws  of any  foreign  country  or any  state  or  political
          subdivision thereof.

     (h)  "SUBJECT  DISPUTES"  shall  mean,  collectively,   the  following
          disputes that have not been asserted in litigation or arbitration
          proceedings:

          (i)  Dispute  Related to DPL  Sensitive  Information - this issue
               was  raised by DPL in a letter  from DPL to  Monsanto  dated
               February 20, 2006 ("DPL Sensitive Information");

          (ii) Bollgard(R)      re-registration      process     ("Bollgard
               Re-Registration");

          (iii)Potential Australian  infringement action regarding VIP Cot,
               as referred  to in a letter from  counsel to Monsanto or one
               of  its  Affiliates  to  counsel  for  DPL  or  one  of  its
               Affiliates dated August 10, 2006 ("Australia VIP Cot");

          (iv) Monsanto's promotion of Stoneville varieties as first raised
               in a  letter  from  DPL to  Monsanto,  dated  May  10,  2006
               ("Stoneville Marketing").

          (v)  Monsanto's compliance with Marketing Services Agreement with
               respect to 2006 and 2007 Action Pact Programs,  as set forth
               in a  letter  from  DPL to  Monsanto,  dated  June  1,  2006
               ("Action Pact Issues").

          (vi) Terminability of U.S.  Bollgard(R) and Roundup Ready(R) Gene
               License and Seed Services Agreements ("Termination Rights");

          (vii)Limitations  periods on ability  to raise  certain  types of
               disputes ("Time Limitations"); and

          (viii) Revisions to alternative dispute resolutions ("ADR").

     (i)  "THIRD  PARTY"  shall  mean any Person  other  than the  Monsanto
          Parties, the DPL Parties, and any of the Parties' Affiliates.

     2.  TREATMENT  OF  SUBJECT  DISPUTES.  Upon  execution  of the  Merger
Agreement,  the Parties agree that the Subject  Disputes shall be addressed
or resolved as follows:

     (a) With  regard to DPL  Sensitive  Information,  the DPL  Parties and
their  Affiliates  shall refrain,  until the expiration of the Outside Date
(as that term is used in the Merger Agreement), from asserting, directly or
indirectly,   any  Claim   arising  from  or  relating  to  DPL   Sensitive
Information.

     (b) With regard to Bollgard Re-Registration, the DPL Parties and their
Affiliates shall cease, desist, and refrain from disparaging,  criticizing,
or otherwise  commenting  unfavorably  upon,  directly or  indirectly,  the
performance of the Bollgard(R) II or Roundup Ready(R) Flex traits or genes.

     (c) With regard to  Australian  VIP Cot,  Monsanto and its  Affiliates
will refrain,  until the  expiration  of the Outside Date,  from taking any
further  action against DPL and its  Affiliates;  provided,  however,  that
neither DPL nor its  Affiliates  shall assert that in refraining  from such
further action that Monsanto or its Affiliates  have been guilty of laches,
estoppel,  or waiver  of any right  that  they may  possess;  and  provided
further that Monsanto and its Affiliates shall not be precluded from taking
further  action in connection  with any Third Party in connection  with any
matter relating to Australian VIP Cot.

     (d) With  regard to  Stoneville  Marketing,  the DPL Parties and their
Affiliates shall refrain, from asserting, directly or indirectly, any Claim
arising from or relating to the Stoneville Marketing dispute.

     (e) With  regard to Action  Pact  Issues,  the DPL  Parties  and their
Affiliates shall refrain from  challenging,  either directly or indirectly,
under  the   Marketing   Services   Agreement,   either  the  structure  or
administration of the Monsanto Action Pact program.

     (f) With regard to Termination Rights, Time Limitations,  and ADR, the
Parties shall  execute the  amendments  to the US  Bollgard(R)  and Roundup
Ready(R)  Gene  Licenses  and Seed  Services  Agreements,  as set  forth in
Exhibits A and B, respectively.

     (g) Each Party hereto represents and warrants that it has not prior to
the date  hereof,  and will not in the future,  sell,  transfer,  assign or
othewise  hypothecate to any Third Party that would not be bound hereby and
claim covered by this Agreement  existing prior to the date hereof and each
Party will  defend,  indemnify  and hold  harmless the other Party from any
actions by any third Party asserting such claims.

     3. MUTUAL RELEASES.

     (a) By the Monsanto Parties: The Monsanto Parties and their Affiliates
hereby  release and  discharge  each of the DPL Parties,  their  respective
Affiliates, assigns, predecessors, and successors, and any and all of those
Persons' past, present, and future officers, directors,  employees, agents,
licensees and attorneys  from all Claims that each of the Monsanto  Parties
and their respective Affiliates, assigns, predecessors, and successors, and
all of those  Persons'  past,  present,  and  future  officers,  directors,
employees, agents, and attorneys ever had, now have, or may have for, upon,
or by reason of, any matter whatsoever, through the date of this Agreement,
arising from,  encompassed  by, or related to any and all matters raised in
the Bollgard Re-Registration.

     (b) By the DPL Parties:  The DPL Parties and their  Affiliates  hereby
release  and  discharge  each of the  Monsanto  Parties,  their  respective
Affiliates, assigns, predecessors, and successors, and any and all of those
Persons' past, present, and future officers, directors,  employees, agents,
licensees  and  attorneys  from all Claims that each of the DPL Parties and
their respective Affiliates, assigns, predecessors, and successors, and all
of those Persons' past, present, and future officers, directors, employees,
agents,  and  attorneys  ever had, now have,  or may have for,  upon, or by
reason of,  any  matter  whatsoever,  through  the date of this  Agreement,
arising from,  encompassed by, or related to any and all matters (i) raised
in the Action Pact Issues, and the Stoneville Marketing Issues.

     (c) Parties Not Released:  The releases set forth in  paragraphs  3(a)
and 3(b) of this  Agreement  do not  include  any Claim by any Party or its
Affiliates  against  (and are  expressly  not for the benefit of) any Third
Party not specifically  referred to or described in Paragraphs 3(a) or 3(b)
hereof.

     (d) Matters Not Released:

     Solely for the  avoidance  of doubt,  the Parties  agree that only the
claims asserted within the Subject Disputes and specifically  identified in
Paragraphs  3(a) or (b) above are the  subject  of the above  releases  set
forth in this Paragraph 3.

     4.  COVENANT  NOT  TO  SUE.  The  DPL  Parties  and  their  respective
Affiliates  on the one hand and the Monsanto  Parties and their  respective
Affiliates on the other expressly  covenant never to institute or prosecute
against the other in any administrative proceeding, arbitration proceeding,
suit, or action of any kind or nature whatsoever,  at law or in equity, any
Claim released in this Agreement;  provided that nothing  contained in this
paragraph  shall  release,  remise,  discharge or acquit a Party's  claims,
regardless of the legal theory upon which they are based, against any other
Party  for  the  alleged  breach  of or to  seek  the  enforcement  of this
Agreement.  Provided,  however,  nothing in this Agreement shall affect any
Claim or counterclaim  in Delta and Pine Land Company v. Monsanto  Company,
2005-IA-00015-SCT,  consolidated  with  Delta  and  Pine  Land  Company  v.
Monsanto  Company,  2005-IA-00016-SCT,  Delta  and  Pine  Land  Company  v.
Monsanto  company,  et al, Civil Action No. 2000-1,  pending in the Circuit
Court  of  the  First  Judicial  District  of  Bolivar  County,   State  of
Mississippi,  or in any other legal proceeding or arbitration not otherwise
specifically addressed herein.

     5.  DENIAL OF  LIABILITY.  Each  Party  hereto  expressly  denies  any
liability  with  respect  to the  Claims  made  against  it in the  Subject
Disputes.

     6. FUTURE  DISCOVERY.  Each Party  acknowledges  that it may hereafter
discover facts relating to the Subject  Disputes that occurred prior to the
date of this  Agreement  that are different  from, or in addition to, those
which it now knows or believes to be true,  and each Party agrees that this
Agreement  shall be and remain  effective  and  applicable in all respects,
notwithstanding  such  different  or  additional  facts,  or the  discovery
thereof.

     7.  BINDING  NATURE.  This  Agreement  shall be binding  upon,  impose
obligations  upon,  and inure to the benefit of each of the Parties,  their
respective  Affiliates,  and  their  respective  permitted  successors  and
assigns.

     8.  GOVERNING  LAW.  The  internal  laws  of  the  State  of  Delaware
(excluding its choice of law or conflicts of law  provisions)  shall govern
the interpretation, performance and enforcement of this Agreement.

     9. SUBMISSION TO JURISDICTION.  Each of the Parties irrevocably agrees
that any legal action or proceeding  with respect to this Agreement and the
rights  and  obligations   arising   hereunder,   or  for  recognition  and
enforcement of any judgment in respect of this Agreement and the rights and
obligations  arising  hereunder  brought by the other  Party  hereto or its
successors or assigns shall be brought and  determined  exclusively  in the
Delaware  Court of  Chancery,  or in the event (but only in the event) that
such court does not have subject  matter  jurisdiction  over such action or
proceeding,  in the  United  States  District  Court  for the  District  of
Delaware. Each of the Parties hereby irrevocably submits with regard to any
such  action or  proceeding  for itself  and in  respect  of its  property,
generally  and  unconditionally,   to  the  personal  jurisdiction  of  the
aforesaid  courts and agrees that it will not bring any action  relating to
this Agreement or any of the transactions contemplated by this Agreement in
any court or tribunal other than the aforesaid courts.  Each of the Parties
hereby irrevocably waives, and agrees not to assert, by way of motion, as a
defense,  counterclaim  or  otherwise,  in any  action or  proceeding  with
respect to this Agreement and the rights and obligations arising hereunder,
or for  recognition  and  enforcement  of any  judgment  in respect of this
Agreement and the rights and  obligations  arising  hereunder (i) any claim
that it is not personally  subject to the  jurisdiction  of the above named
courts for any reason,  (ii) any claim that it or its property is exempt or
immune  from  jurisdiction  of any such  court or from  any  legal  process
commenced in such courts  (whether  through  service of notice,  attachment
prior to judgment, attachment in aid of execution of judgment, execution of
judgment or  otherwise)  and (iii) to the fullest  extent  permitted by the
applicable  law, any claim that (x) the suit,  action or proceeding in such
court is  brought  in an  inconvenient  forum,  (y) the venue of such suit,
action or  proceeding  is  improper or (z) this  Agreement,  or the subject
matter hereof, may not be enforced in or by such courts.

     10. WAIVER OF JURY TRIAL. Each Party  acknowledges and agrees that any
controversy  which may arise  under  this  Agreement  is likely to  involve
complicated  and  difficult   issues  and,   therefore,   each  such  Party
irrevocably and unconditionally  waives any right it may have to a trial by
jury in respect of any legal  action  arising  out of or  relating  to this
Agreement or the transactions contemplated by this Agreement. Each party to
this Agreement certifies and acknowledges that (i) no representative of any
other Party has represented,  expressly or otherwise, that such other Party
would  not seek to  enforce  the  foregoing  waiver in the event of a legal
action,  (ii) such Party has  considered the  implications  of this waiver,
(iii) such Party  makes this  waiver  voluntarily,  and (iv) such Party has
been  induced to enter into this  Agreement  by,  among other  things,  the
mutual waivers and certifications contained in this paragraph.

     11. ENTIRE AGREEMENT.  This Agreement constitutes the entire agreement
between the Parties  relating to the subject matter  hereof,  and all prior
negotiations and understandings between the Parties relating to the subject
matter hereof shall be deemed merged into this Agreement.

     12. VOLUNTARILY AND KNOWINGLY.  The Parties each acknowledge that they
have read this Agreement and  understand  all of its terms,  and that these
documents are being executed  voluntarily,  without  duress,  and with full
knowledge of their legal  significance.  The Parties each  acknowledge that
they have received independent legal advice from their respective attorneys
with respect to the legal consequences of entering into these agreements.

     13.  CONSTRUCTION.  The Parties agree that in the event of any dispute
concerning  the  interpretation  or  construction  of  this  Agreement,  no
presumption  shall exist with respect to the Party  initially  drafting the
Agreement.  The  Parties  each  agree  they have had ample  opportunity  to
influence the choice of language and terms in this Agreement.

     14.  REPRESENTATIONS.  The  DPL  Parties  and  Monsanto  Parties  each
represent and warrant that they have full capacity and authority to settle,
compromise,  and release  their  Claims and the Claims of their  respective
Affiliates as set forth herein,  and that no other person or entity has, or
will in the future,  acquire or have any right to assert against any person
or entity  released by this  Agreement  any portion of that  Party's or its
Affiliates' released Claims.

     15. SUFFICIENCY OF CONSIDERATION. Other than the obligations set forth
in  this  Agreement,  the  Parties  each  acknowledge  and  agree  that  no
additional  consideration  is  required  or  owing to the  other,  and that
sufficient  consideration  has passed  between them to render the Agreement
valid and enforceable.

     16.  MODIFICATIONS.  This  Agreement may not be amended,  altered,  or
modified,  in whole or in part, except by an instrument in writing executed
by the Parties thereto.

     17. WAIVER.  Any failure by any Party to this Agreement to insist upon
the strict  performance  by another  Party of any of the  provision of this
Agreement  shall not be deemed a waiver  of any of the  provisions  of this
Agreement  and such Party,  notwithstanding  such  failure,  shall have the
right thereafter to insist upon the specific  performance of any and all of
the provisions of this  Agreement.  There shall be no estoppel  against the
enforcement  of  any  provision  of  this  Agreement,   except  by  written
instruments  signed by the Party  charged with the waiver or  estoppel;  no
written  waiver shall be deemed a  continuing  waiver  unless  specifically
stated  therein,  and  the  written  waiver  shall  operate  only as to the
specific  term or  condition  waived,  and not for the  future or as to any
other act than that specifically waived.

     18.  SEVERABILITY.  If any  clause,  provision,  or  section  of  this
Agreement shall, for any reason, be held illegal, invalid or unenforceable,
the Parties shall negotiate in good faith and in accordance with reasonable
standards of fair  dealing,  a valid,  legal,  and  enforceable  substitute
provision or provisions that most nearly reflect the original intent of the
Parties under this Agreement in a manner that is  commensurate in magnitude
and degree  with the  changes  arising  as a result of any such  substitute
provision or  provisions.  All other  provisions  in this  Agreement  shall
remain in full force and effect  and shall be  construed  in order to carry
out the  original  intent of the Parties as nearly as possible  (consistent
with  the  necessary  reallocation  of  benefits)  and as if such  invalid,
illegal, or unenforceable provision had never been contained herein.

     19.   COUNTERPARTS.   This  Agreement  may  be  executed  in  multiple
counterparts,  each of which shall be  considered  and shall have the force
and effect of an original and all of which  together  shall  constitute one
and the same document.

     20.  HEADINGS.  The various  headings  used in this  Agreement are for
reference  purposes only and are not to be used in interpreting the text of
the paragraph in which they appear or to which they relate.

     21. NOTICES.  Any notice required or permitted by this Agreement shall
be in writing and served  either (1) by hand  delivery or (2) by  facsimile
and United States mail, first-class,  postage prepaid, and addressed to the
facsimile and address set forth below:

                If to the DPL Parties:
                Delta and Pine Land Company
                Office of the Chief Executive Officer
                One Cotton Row
                Scott, MS 38772

                Fax: (662)742-3795

or such other person and/or address as DPL designates in writing.

                If to the Monsanto Parties:
                Monsanto Company
                Office of the General Counsel
                800 North Lindbergh Blvd.
                Building A
                St.  Louis, MO 63167

                Fax: (314) 694-6399

or such other  person  and/or  address as  Monsanto  designates  in
writing.

      22.  ATTACHMENTS   AND   EXHIBITS.    The   Attachments   and
Exhibits form an integral part of this Agreement.

<PAGE>

D&M PARTNERS                        DELTA AND PINE LAND COMPANY

By /s/ W.T. Jagodinski              By /s/ R.D. Greene
  ----------------------------        ---------------------------
Title Managing Agent                Title Senior Vice President
     -------------------------           ------------------------
Date August14, 2006                 Date August 14, 2006
    --------------------------          -------------------------

MONSANTO COMPANY

By /s/ Terrell K. Crews
  ---------------------------
Title Chief Financial Officer
     -------------------------
Date August 14, 2006
    -------------------------

<PAGE>

                             EXHIBIT A

    AMENDMENT TO ROUNDUP READY(R) GENE LICENSE AND SEED SERVICES
                             AGREEMENT
                        OF FEBRUARY 2, 1996

D&M Partners, a Delaware general partnership, Delta and Pine Land
Company, a Delaware corporation, and Monsanto Company, a Delaware
corporation, are parties to a certain Roundup Ready(R) Gene License
and Seed Services Agreement dated February 2, 1996, as amended
July 26, 1996, December 8, 1999,  January 2, 2000, and March 26,
2003, and further amended by a separate agreement of even date
hereof (hereinafter referred to as the "Agreement").

All capitalized terms, not otherwise defined in this Amendment,
shall have the meanings defined in the Agreement.

The parties agree to amend the Agreement as follows:

1.    Add the following sentence to Section 10.3:

      "If the breaching party disputes (i) the existence of the
      breach or (ii) whether curative efforts have been effective,
      within the ninety (90) days, then the aggrieved party may
      not terminate this Agreement until such time as rights under
      Section 15.16 have been exhausted.  For the avoidance of
      doubt, a notice of breach is the date from which the thirty
      (30) days in subsection 15.16(a) is calculated.  Failure to
      perfect one's rights with the time periods specified in
      subsections 15.16(a) and (b) exhausts the rights given
      therein.  Further, neither party may terminate this
      agreement due to an alleged breach that occurred more than
      two (2) years prior to the notice of breach, provided that
      if the aggrieved party requested an audit or an examination
      of records (when provided for under the Agreement) and such
      was not completed through no fault of the aggrieved party
      before the end of the two (2) year period, this sentence
      shall have no effect with respect to a breach that would
      have been discovered in such an audit or an examination of
      records (when provided for under the Agreement)."

2.    Amend Section 15.16 by deleting "and nothing contained in
      this Subsection 15.16 shall serve to preclude any party from
      its right to seek any other remedy at law."  Add the
      following sentence:  "Neither party may first seek
      resolution of disputes subject to this Subsection 15.16 in a
      court of law or equity, but shall submit it to the binding
      arbitration provisions of this Subsection."

The parties agree that in the event of a change of Control (as
defined in the Settlement Agreement of which this amendment is a
part) of Delta and Pine Land Company, following the effective
date of this amendment, the amendment of Section 10.3 shall cease
to have effect and the original language of that Sectionn 10.3
shall continue as if this amendment was never in effect.

All other terms and conditions of the Agreement remain the same.

D&M PARTNERS              DELTA AND PINE LAND COMPANY

By____________________________ By___________________________

Title_________________________ Title________________________

Date__________________________ Date_________________________

MONSANTO COMPANY

By___________________________

Title_________________________

Date_________________________

<PAGE>

                             EXHIBIT B

  AMENDMENT TO BOLLGARD(R) GENE LICENSE AND SEED SERVICES AGREEMENT
                        OF FEBRUARY 2, 1996

D&M Partners, a Delaware general partnership, Delta and Pine Land
Company, a Delaware corporation, and Monsanto Company, a Delaware
corporation, are parties to a certain Roundup Ready(R) Gene License
and Seed Services Agreement dated February 2, 1996, as amended
December 8, 1999, January 2, 2000, and March 26, 2003,
(hereinafter referred to as the "Agreement").

All capitalized terms, not otherwise defined in this Amendment,
shall have the meanings defined in the Agreement.

The parties agree to amend the Agreement as follows:

1.    Add the following sentence to Section 10.3:

      "If the breaching party disputes (i) the existence of the
      breach or (ii) whether curative efforts have been effective,
      within the ninety (90) days, then the aggrieved party may
      not terminate this Agreement until such time as rights under
      Section 15.16 have been exhausted.  For the avoidance of
      doubt, a notice of breach is the date from which the thirty
      (30) days in subsection 15.16(a) is calculated.  Failure to
      perfect one's rights with the time periods specified in
      subsections 15.16(a) and (b) exhausts the rights given
      therein.  Further, neither party may terminate this
      agreement due to an alleged breach that occurred more than
      two (2) years prior to the notice of breach, provided that
      if the aggrieved party requested an audit or an examination
      of records (when provided for under the Agreement) and such
      was not completed through no fault of the aggrieved party
      before the end of the two (2) year period, this sentence
      shall have no effect with respect to a breach that would
      have been discovered in such an audit or an examination of
      records (when provided for under the Agreement)."

2.    Amend Section 15.16 by deleting "and nothing contained in
      this Subsection 15.16 shall serve to preclude any party from
      its right to seek any other remedy at law."  Add the
      following sentence:  "Neither party may first seek
      resolution of disputes subject to this Subsection 15.16 in a
      court of law or equity, but shall submit it to the binding
      arbitration provisions of this Subsection."

All other terms and conditions of the Agreement remain the same.

<PAGE>

D&M PARTNERS                   DELTA AND PINE LAND COMPANY

By____________________________ By___________________________

Title_________________________ Title________________________

Date__________________________ Date_________________________

MONSANTO COMPANY

By___________________________

Title_________________________

Date_________________________Exhibit 10.3

                 ARBITRATION SETTLEMENT AGREEMENT
                 --------------------------------

     This  Arbitration  Settlement  Agreement  ("Agreement") is made, as of
August  14,  2006  (the  "Effective  Date"),  between  Delta  and Pine Land
Company,  a Delaware  corporation with its principal  offices at One Cotton
Row, Scott, Mississippi 38772 ("DPL"); D&M Partners, a Delaware partnership
with its  principal  offices at One Cotton Row,  Scott,  Mississippi  38772
("D&M") ; and Monsanto Company,  a Delaware  corporation with its principal
place of business at 800 N.  Lindbergh  Blvd.,  St. Louis,  Missouri  63167
("Monsanto").

     WHEREAS,  DPL,  D&M,  and  Monsanto  are  each  parties  to  the  U.S.
Bollgard(R)  Gene  License,  the U.S.  Roundup  Ready(R)  License,  and the
Marketing Services Agreement; and

     WHEREAS,  disputes  have arisen  among the Parties  pertaining  to the
above identified agreements; and

     WHEREAS, the Parties have instituted arbitration  proceedings,  styled
Monsanto Company v. Delta & Pine Land, No. 30 Y 133 00564 04, pending under
the  jurisdiction  of  the  American  Arbitration   Association   ("Subject
Arbitration"),  under the  provisions  of certain  of the above  identified
agreements in order to resolve certain disputes; and

     WHEREAS,  the Parties have come to agreement on the  settlement of the
disputes  that have been  raised in the  Subject  Arbitration  on terms set
forth in this Agreement; and

     WHEREAS, the Parties may have other claims against each other, whether
asserted or as yet  unasserted,  which are intended to be preserved and not
released or affected by this Agreement;

     NOW, THEREFORE, in consideration of the mutual agreements,  covenants,
and  commitments set forth herein,  the Parties  understand the meaning and
legal effect of entering into this Agreement and hereby agree as follows:

     1.  DEFINITIONS.   For  purposes  of  this  Agreement,  the  following
definitions shall apply to the terms set forth below, and such terms may be
used either in the singular or plural context:

     (a)  "AFFILIATE"  shall mean, with respect to a Party, any Person that
          directly   or   indirectly,   whether   through   one   or   more
          intermediaries,  Controls,  is Controlled  By, or is under Common
          Control with a Party.

     (b)  "CLAIM"  shall mean any and all claims,  counterclaims,  demands,
          actions,   causes  of  action,   suits,   damages,   liabilities,
          judgments, debts, claims over, accounts, warranties, liens, costs
          or expenses  whatsoever,  wherever arising,  and whether based in
          contract law, tort law, equity,  statute, or regulation,  whether
          known or unknown.  A Claim shall include,  but not be limited to,
          any and all  actions  or claims  for  injunctive  relief,  patent
          infringement,  violations of the antitrust or  competition  laws,
          false advertising, unfair or deceptive acts or practices, product
          disparagement,  unfair  competition,  restraint  of trade,  trade
          secret misappropriation,  breach of contract,  conversion, fraud,
          deceit,  contempt,  violations  of court  orders or  injunctions,
          costs,  and/or  attorney  fees.  A Claim  shall not  include  any
          payments  due  or  other  obligations  owed  under  contracts  or
          agreements between the Parties or one or more of their Affiliates
          made prior to the Effective  Date of this Agreement that have not
          been terminated herein or that were not otherwise at issue in the
          Subject Arbitration.

     (c)  "CONTROL,"  "CONTROLLED BY," or "UNDER COMMON CONTROL WITH" shall
          mean (i) the  ownership,  directly  or  indirectly,  of more than
          fifty percent  (50%) of the voting  equity  interest in a Person,
          and (ii) the ability,  directly or indirectly, to direct or cause
          the  direction  of the  management  and  policies of that entity,
          whether through ownership of voting securities,  by contract,  or
          otherwise.

     (d)  "DPL  PARTIES"  shall  mean Delta and Pine Land  Company  and D&M
          Partners.

     (e)  "MONSANTO PARTIES" shall mean Monsanto Company ("Monsanto").

     (f)  "PARTIES"  shall mean the DPL Parties and the  Monsanto  Parties.
          "PARTY" shall mean one of DPL, D&M PARTNERS, or Monsanto.

     (g)  "PERSON" shall mean any individual, corporation,  proprietorship,
          firm, partnership, limited liability company, trust, association,
          or other form of business  entity,  whether formed under the laws
          of any state of the United States,  the District of Columbia,  or
          the  laws  of any  foreign  country  or any  state  or  political
          subdivision thereof.

     (h)  "SUBJECT  ARBITRATION"  shall  mean the  arbitration  proceedings
          identified in the Preamble to this Agreement.

     (i)  "THIRD  PARTY"  shall  mean any Person  other  than the  Monsanto
          Parties, the DPL Parties, and any of the Parties' Affiliates.

     2. TREATMENT OF SUBJECT  ARBITRATION.  Upon execution of the Agreement
and Plan of Merger ("Merger Agreement"),  the following agreements shall be
amended as follows:

     (a) The Parties shall  execute the Amendment to Roundup  Ready(R) Gene
License and Seed  Services  Agreement  of February 2, 1996,  as  previously
amended, in the form of Exhibit B.

     (b) The  Parties  shall  execute the  Amendment  to  Bollgard(R)  Gene
License and Seed  Services  Agreement  of February 2, 1996,  as  previously
amended, in the form of Exhibit C.

     (c) The Parties  shall  execute the  Amendment to  Marketing  Services
Agreement of February 2, 1996, in the form of Exhibit D.

     2.  EXECUTION OF AGREEMENTS  AND DISMISSAL OF SUBJECT  LITIGATION  AND
SUBJECT  ARBITRATION  . Upon  execution  of the  Merger  Agreement  and the
Amendments,  the DPL  Parties  and the  Monsanto  Parties  shall  cause the
following documents to be filed with the American  Arbitration  Association
and the arbitration panel in connection with the Subject Arbitration:

     (a) A Stipulation of Dismissal with prejudice, with each Party to bear
its own attorneys' fees and costs, in the form of Exhibit A.

     3. MUTUAL RELEASES.

     (a) By the Monsanto Parties: The Monsanto Parties and their Affiliates
hereby  release and  discharge  each of the DPL Parties,  their  respective
Affiliates, assigns, predecessors, and successors, and any and all of those
Persons' past, present, and future officers, directors,  employees, agents,
licensees and attorneys  from all Claims that each of the Monsanto  Parties
and their respective Affiliates, assigns, predecessors, and successors, and
all of those  Persons'  past,  present,  and  future  officers,  directors,
employees, agents, and attorneys ever had, now have, or may have for, upon,
or by reason of, any matter whatsoever, through the date of this Agreement,
arising from,  encompassed by, or related to any and all matters alleged in
the Subject Arbitration .

     (b) By the DPL Parties:  The DPL Parties and their  Affiliates  hereby
release  and  discharge  each of the  Monsanto  Parties,  their  respective
Affiliates, assigns, predecessors, and successors, and any and all of those
Persons' past, present, and future officers, directors,  employees, agents,
licensees and attorneys from all Claims (including, but not limited to, all
Claims that any of the Monsanto Parties failed to satisfy its "most favored
licensee"  obligations in connection  with their  dealings with  Stoneville
Pedigreed  Seed Company  ("Stoneville")  or its  Affiliates - regardless of
whether  Stoneville  was an Affiliate of any of the Monsanto  Parties) that
each  of  the  DPL  Parties  and  their  respective  Affiliates,   assigns,
predecessors,  and successors, and all of those Persons' past, present, and
future officers, directors,  employees, agents, and attorneys ever had, now
have,  or may have for,  upon,  or by reason  of,  any  matter  whatsoever,
through  the date of this  Agreement,  arising  from,  encompassed  by,  or
related to any and all matters alleged in the Subject Arbitration .

     (c) Parties Not Released:  The releases set forth in  paragraphs  3(a)
and 3(b) of this 2006 Settlement  Agreement do not include any Claim by any
Party or its Affiliates  against (and are expressly not for the benefit of)
any Third Party not  specifically  referred to or described  in  Paragraphs
3(a) or 3(b) hereof.

     (d) Matters Not Released:

     Solely for the  avoidance  of doubt,  the Parties  agree that only the
claims, counterclaims, and defenses asserted within the Subject Arbitration
are the subject of the above  releases or other  resolution of disputes set
forth above in this Paragraph 3.

     4.  COVENANT  NOT  TO  SUE.  The  DPL  Parties  and  their  respective
Affiliates  on the one hand and the Monsanto  Parties and their  respective
Affiliates  on the other hand  expressly  covenant  never to  institute  or
prosecute against the other in any administrative  proceeding,  arbitration
proceeding,  suit, or action of any kind or nature whatsoever, at law or in
equity,  any  Claim  released  in this  Agreement;  provided  that  nothing
contained in this paragraph  shall release,  remise,  discharge or acquit a
Party's  claims,  regardless of the legal theory upon which they are based,
against  any  other  Party  for  the  alleged  breach  of  or to  seek  the
enforcement of this Agreement. Provided, however, nothing in this agreement
shall  affect any claim or  counterclaim  in Delta and Pine Land Company v.
Monsanto Company  2005-IA-00015-SCT,  consolidated with Delta and Pine Land
Company  v.  Monsanto  Company  2005-IA-00016-SCT,  or in any  other  legal
proceeding or arbitration not released herein.

     5. NO TRANSFER OF RELEASED  CLAIMS.  Each Party hereto  represents and
warrants that it has not prior to the Effective  Date,  and will not in the
future, sell,  transfer,  assign or othewise hypothecate to any Third Party
that  would  not be bound  hereby  any  Claim  released  by this  Agreement
existing prior to the date hereof and each Party will defend, indemnify and
hold harmless the other Party from any actions by any Third Party asserting
any such Claim.

     6.  DENIAL OF  LIABILITY.  Each  Party  hereto  expressly  denies  any
liability  with  respect  to the  Claims  made  against  it in the  Subject
Arbitration.

     7. FUTURE  DISCOVERY.  Each Party  acknowledges  that it may hereafter
discover facts relating to the Subject  Arbitration  that occurred prior to
the date of this  Agreement  that are  different  from,  or in addition to,
those which it now knows or believes to be true, and each Party agrees that
this  Agreement  shall  be  and  remain  effective  and  applicable  in all
respects,  notwithstanding  such  different  or  additional  facts,  or the
discovery thereof.

     8.  BINDING  NATURE.  This  Agreement  shall be binding  upon,  impose
obligations  upon,  and inure to the benefit of each of the Parties,  their
respective  Affiliates,  and  their  respective  permitted  successors  and
assigns.

     9.  GOVERNING  LAW.  The  internal  laws  of  the  State  of  Delaware
(excluding its choice of law or conflicts of law  provisions)  shall govern
the interpretation, performance and enforcement of this Agreement.

     10. SUBMISSION TO JURISDICTION. Each of the Parties irrevocably agrees
that any legal action or proceeding  with respect to this Agreement and the
rights  and  obligations   arising   hereunder,   or  for  recognition  and
enforcement of any judgment in respect of this Agreement and the rights and
obligations  arising  hereunder  brought by the other  Party  hereto or its
successors or assigns shall be brought and  determined  exclusively  in the
Delaware  Court of  Chancery,  or in the event (but only in the event) that
such court does not have subject  matter  jurisdiction  over such action or
proceeding,  in the  United  States  District  Court  for the  District  of
Delaware. Each of the Parties hereby irrevocably submits with regard to any
such  action or  proceeding  for itself  and in  respect  of its  property,
generally  and  unconditionally,   to  the  personal  jurisdiction  of  the
aforesaid  courts and agrees that it will not bring any action  relating to
this Agreement or any of the transactions contemplated by this Agreement in
any court or tribunal other than the aforesaid courts.  Each of the Parties
hereby irrevocably waives, and agrees not to assert, by way of motion, as a
defense,  counterclaim  or  otherwise,  in any  action or  proceeding  with
respect to this Agreement and the rights and obligations arising hereunder,
or for  recognition  and  enforcement  of any  judgment  in respect of this
Agreement and the rights and  obligations  arising  hereunder (i) any claim
that it is not personally  subject to the  jurisdiction  of the above named
courts for any reason,  (ii) any claim that it or its property is exempt or
immune  from  jurisdiction  of any such  court or from  any  legal  process
commenced in such courts  (whether  through  service of notice,  attachment
prior to judgment, attachment in aid of execution of judgment, execution of
judgment or  otherwise)  and (iii) to the fullest  extent  permitted by the
applicable  law, any claim that (x) the suit,  action or proceeding in such
court is  brought  in an  inconvenient  forum,  (y) the venue of such suit,
action or  proceeding  is  improper or (z) this  Agreement,  or the subject
matter hereof, may not be enforced in or by such courts.

     11. WAIVER OF JURY TRIAL. Each Party  acknowledges and agrees that any
controversy  which may arise  under  this  Agreement  is likely to  involve
complicated  and  difficult   issues  and,   therefore,   each  such  Party
irrevocably and unconditionally  waives any right it may have to a trial by
jury in respect of any legal  action  arising  out of or  relating  to this
Agreement or the transactions contemplated by this Agreement. Each party to
this Agreement certifies and acknowledges that (i) no representative of any
other Party has represented,  expressly or otherwise, that such other Party
would  not seek to  enforce  the  foregoing  waiver in the event of a legal
action,  (ii) such Party has  considered the  implications  of this waiver,
(iii) such Party  makes this  waiver  voluntarily,  and (iv) such Party has
been  induced to enter into this  Agreement  by,  among other  things,  the
mutual waivers and certifications contained in this paragraph.

     12. ENTIRE AGREEMENT.  This Agreement constitutes the entire agreement
between the Parties  relating to the subject matter  hereof,  and all prior
negotiations and understandings between the Parties relating to the subject
matter hereof shall be deemed merged into this Agreement.

     13. VOLUNTARILY AND KNOWINGLY.  The Parties each acknowledge that they
have read this Agreement and  understand  all of its terms,  and that these
documents are being executed  voluntarily,  without  duress,  and with full
knowledge of their legal  significance.  The Parties each  acknowledge that
they have received independent legal advice from their respective attorneys
with respect to the legal consequences of entering into these agreements.

     14.  CONSTRUCTION.  The Parties agree that in the event of any dispute
concerning  the  interpretation  or  construction  of  this  Agreement,  no
presumption  shall exist with respect to the Party  initially  drafting the
Agreement.  The  Parties  each  agree  they have had ample  opportunity  to
influence the choice of language and terms in this Agreement.

     15.  REPRESENTATIONS.  The  DPL  Parties  and  Monsanto  Parties  each
represent and warrant that they have full capacity and authority to settle,
compromise,  and release  their  Claims and the Claims of their  respective
Affiliates  as set forth  herein,  and that no other Person has, or will in
the  future,  acquire  or have any right to assert  against  any  person or
entity  released  by this  Agreement  any  portion  of that  Party's or its
Affiliates' released Claims.

     16. SUFFICIENCY OF CONSIDERATION. Other than the obligations set forth
in  this  Agreement,  the  Parties  each  acknowledge  and  agree  that  no
additional  consideration  is  required  or  owing to the  other,  and that
sufficient  consideration  has passed  between them to render the Agreement
valid and enforceable.

     17.  MODIFICATIONS.  This  Agreement may not be amended,  altered,  or
modified,  in whole or in part, except by an instrument in writing executed
by the Parties thereto.

     18. WAIVER.  Any failure by any Party to this Agreement to insist upon
the strict  performance  by another  Party of any of the  provision of this
Agreement  shall not be deemed a waiver  of any of the  provisions  of this
Agreement  and such Party,  notwithstanding  such  failure,  shall have the
right thereafter to insist upon the specific  performance of any and all of
the provisions of this  Agreement.  There shall be no estoppel  against the
enforcement  of  any  provision  of  this  Agreement,   except  by  written
instruments  signed by the Party  charged with the waiver or  estoppel;  no
written  waiver shall be deemed a  continuing  waiver  unless  specifically
stated  therein,  and  the  written  waiver  shall  operate  only as to the
specific  term or  condition  waived,  and not for the  future or as to any
other act than that specifically waived.

     19.  SEVERABILITY.  If any  clause,  provision,  or  section  of  this
Agreement shall, for any reason, be held illegal, invalid or unenforceable,
the Parties shall negotiate in good faith and in accordance with reasonable
standards of fair  dealing,  a valid,  legal,  and  enforceable  substitute
provision or provisions that most nearly reflect the original intent of the
Parties under this Agreement in a manner that is  commensurate in magnitude
and degree  with the  changes  arising  as a result of any such  substitute
provision or  provisions.  All other  provisions  in this  Agreement  shall
remain in full force and effect  and shall be  construed  in order to carry
out the  original  intent of the Parties as nearly as possible  (consistent
with  the  necessary  reallocation  of  benefits)  and as if such  invalid,
illegal, or unenforceable provision had never been contained herein.

     20.   COUNTERPARTS.   This  Agreement  may  be  executed  in  multiple
counterparts,  each of which shall be  considered  and shall have the force
and effect of an original and all of which  together  shall  constitute one
and the same document.

     21.  HEADINGS.  The various  headings  used in this  Agreement are for
reference  purposes only and are not to be used in interpreting the text of
the paragraph in which they appear or to which they relate.

     22. NOTICES.  Any notice required or permitted by this Agreement shall
be in writing and served  either (1) by hand  delivery or (2) by  facsimile
and United States mail, first-class,  postage prepaid, and addressed to the
facsimile and address set forth below:

                If to the DPL Parties:

                Delta and Pine Land Company
                Office of the Chief Executive Officer
                One Cotton Row
                Scott, MS 38772

                Fax: (662) 742-3795
or such other person and/or address as DPL designates in writing.

                If to the Monsanto Parties:

                Monsanto Company
                Office of the General Counsel
                800 North Lindbergh Blvd.
                Building A
                St.  Louis, MO 63167

                Fax: (314) 694-6399

or such other person and/or address as Monsanto designates in writing.

     23.  ATTACHMENTS  AND EXHIBITS.  The  Attachments and Exhibits form an
integral part of this Agreement. Signature page to follow

<PAGE>

D&M PARTNERS                   DELTA AND PINE LAND COMPANY

By /s/ W.T. Jagodinski         By /s/ R.D. Greene
  ----------------------------   ---------------------------
Title Managing Agent           Title Senior Vice President
     -------------------------      ------------------------
Date August 14, 2006           Date August 14, 2006
    --------------------------     -------------------------

MONSANTO COMPANY

By /s/ Terrell K. Crews
  ---------------------------
Title Chief Financial Officer
    -------------------------
Date August 14, 2006
    -------------------------

<PAGE>

                                 EXHIBIT A

                      AMERICAN ARBITRATION ASSOCIATION

MONSANTO COMPANY,                   )
                               )
      Claimant,                )
                               )
v.                             )    No. 30 Y 133 00564 04
                               )
DELTA AND PINE LAND COMPANY,        )
                               )
      Respondent.                   )

                    STIPULATED DISMISSAL WITH PREJUDICE
                    -----------------------------------

     Having mutually agreed upon a settlement of the disputes to be
resolved herein, the parties request that this matter, including all claims
and counterclaims, be dismissed with prejudice, with each party to bear its
own respective costs and attorney's fees.

                                          Respectfully submitted,

                                          -----------------------
                                          Allen Kezsbom
                                          Michael B. deLeeuw
                                          FRIED, FRANK, HARRIS,
                                          SHRIVER & JACOBSON LLP
                                          One New York Plaza
                                          New York, NY  10004-1980

                                          Jerome C. Hafter
                                          E. Clifton Hodge, Jr.
                                          PHELPS DUNBAR LLP
                                          111 East Capitol Street,
                                          Suite 600
                                          Jackson, MS  39201

                                          Attorneys for DPL

<PAGE>

                                          HUSCH & EPPENBERGER, LLC

                                    By:
                                       ---------------------------
                                          Joseph P. Conran
                                          Dutro E. Campbell, II
                                          Greg G. Gutzler
                                          190 Carondelet Plaza,
                                          Suite 600
                                          St. Louis, MO  63105
                                          314-480-1500
                                          314-480-1505 (facsimile)

                                          Attorneys for Monsanto
                                          Company

<PAGE>

                                 EXHIBIT B

        AMENDMENT TO ROUNDUP READY(R) GENE LICENSE AND SEED SERVICES
                                 AGREEMENT
                            OF FEBRUARY 2, 1996

D&M Partners, a Delaware general partnership, Delta and Pine Land Company,
a Delaware corporation, and Monsanto Company, a Delaware corporation, are
parties to a certain Roundup Ready(R) Gene License and Seed Services
Agreement dated February 2, 1996, as amended July 26, 1996, December 8,
1999, January 2, 2000, and March 26, 2003, (hereinafter referred to as the
"Agreement").

All capitalized terms, not otherwise defined in this Amendment, shall have
the meanings defined in the Agreement.

The parties agree to amend the Agreement as follows:

1.   Delete Section 2.1.56 in its entirety and substitute the following new
     Section 2.1.56:

     "2.1.56. The term "ROYALTY" means the compensation to be paid by D&M
     PARTNERS to MONSANTO in consideration for the LICENSES equal to the
     MONSANTO ROYALTY PERCENTAGE multiplied by the NET SUBLICENSE REVENUE."

2.   Delete Section 2.1.57 in its entirety and substitute the following new
     Section 2.1.57:

     "2.1.57 The term "SUBLICENSE REVENUE" means the total number of UNITS
     of LICENSED COMMERCIAL SEED reported by D&PL as sold and delivered
     during the applicable period and confirmed by the named distributor
     customers as received, less any amounts reported as returned by D&PL
     or the named distributor customers, multiplied by the technology fees
     due from sublicensed growers for those UNITS, less any amounts paid or
     accrued for replant, crop loss or other price adjustments claimed by
     sublicensed growers, provided that the total number of UNITS used in
     the calculation may be as much as one percent (1%) less than the
     reported and confirmed total if the number of UNITS of LICENSED
     COMMERCIAL SEED reported as sold by retail distributors is less than
     the reported and confirmed total."

3.   Add the following sentence to Section 3.8:

     "Notwithstanding any other provision of this Agreement, nothing herein
     shall give D&PL or D&M PARTNERS any right to license the use of any
     MONSANTO TECHNOLOGY, including any ROUNDUP READY(R) GENE to any third
     party for use in breeding cotton. In the event D&PL desires to have a
     third party conduct or participate in breeding of DELTAPINE ROUNDUP
     READY(R) CULTIVARS, such third party must have first been licensed by
     MONSANTO for that purpose. D&PL may request such a license for a third
     party to conduct breeding for it, which MONSANTO may not unreasonably
     withhold. MONSANTO agrees to give O&A Associates or James Olvey such a
     research-only license on standard terms except that a limitation may
     be included to prohibit transfer of any materials produced by or
     containing MONSANTO TECHNOLOGY to any entity except D&PL or an
     AFFILIATE of D&PL."

All other terms and conditions of the Agreement remain the same.

D&M PARTNERS                   DELTA AND PINE LAND COMPANY

By                             By
  ----------------------------   ---------------------------
Title                          Title
     -------------------------      ------------------------
Date                           Date
    --------------------------     -------------------------

MONSANTO COMPANY

By
  ---------------------------
Title
    -------------------------
Date
    -------------------------

<PAGE>

                                 EXHIBIT C

     AMENDMENT TO BOLLGARD(R) GENE LICENSE AND SEED SERVICES AGREEMENT
                            OF FEBRUARY 2, 1996

D&M Partners, a Delaware general partnership, Delta and Pine Land Company,
a Delaware corporation, and Monsanto Company, a Delaware corporation, are
parties to a certain Roundup Ready(R) Gene License and Seed Services
Agreement dated February 2, 1996, as amended December 8, 1999, January 2,
2000, and March 26, 2003, (hereinafter referred to as the "Agreement").

All capitalized terms, not otherwise defined in this Amendment, shall have
the meanings defined in the Agreement.

The parties agree to amend the Agreement as follows:

1.   Delete Section 2.1.51 in its entirety and substitute the following new
     Section 2.1.51:

     "2.1.51. The term "ROYALTY" means the compensation to be paid by D&M
     PARTNERS to MONSANTO in consideration for the LICENSES equal to the
     MONSANTO ROYALTY PERCENTAGE multiplied by the NET SUBLICENSE REVENUE."

2.   Delete Section 2.1.53 in its entirety and substitute the following new
     Section 2.1.53:

     "2.1.53 The term "SUBLICENSE REVENUE" means the total number of UNITS
     of LICENSED COMMERCIAL SEED reported by D&PL as sold and delivered
     during the applicable period and confirmed by the named distributor
     customers as received, less any amounts reported as returned by D&PL
     or the named distributor customers, multiplied by the technology fees
     due from sublicensed growers for those UNITS, less any amounts paid or
     accrued for replant, crop loss or other price adjustments claimed by
     sublicensed growers, provided that the total number of UNITS used in
     the calculation may be as much as one percent (1%) less than the
     reported and confirmed total if the number of UNITS of LICENSED
     COMMERCIAL SEED reported as sold by retail distributors is less than
     the reported and confirmed total.

3.   Add the following sentence to Section 3.8:

     "Notwithstanding any other provision of this Agreement, nothing herein
     shall give D&PL or D&M PARTNERS any right to license the use of
     MONSANTO TECHNOLOGY, including LEPIDOPTERAN-ACTIVE GENE(S) to any
     third party for use in breeding cotton. In the event D&PL desires to
     have a third party conduct or participate in breeding of DELTAPINE
     ROUNDUP READY(R) CULTIVARS, such third party must have first been
     licensed by MONSANTO for that purpose. D&PL may request such a license
     for a third party to conduct breeding for it, which MONSANTO may not
     unreasonably withhold. MONSANTO agrees to give O&A Associates or James
     Olvey such a research-only license on standard terms except that a
     limitation may be included to prohibit transfer of any materials
     produced by or containing MONSANTO TECHNOLOGY to any entity except
     D&PL or an AFFILIATE of D&PL."

All other terms and conditions of the Agreement remain the same.

D&M PARTNERS                   DELTA AND PINE LAND COMPANY

By                             By
  ----------------------------   ---------------------------
Title                          Title
     -------------------------      ------------------------
Date                           Date
    --------------------------     -------------------------

MONSANTO COMPANY

By
  ---------------------------
Title
    -------------------------
Date
    -------------------------

<PAGE>

                                 EXHIBIT D

                 AMENDMENT TO MARKETING SERVICES AGREEMENT
                            OF FEBRUARY 2, 1996

D&M Partners, a Delaware general partnership, Delta and Pine Land Company,
a Delaware corporation, and Monsanto Company, a Delaware corporation, are
parties to a certain Marketing Services Agreement dated February 2, 1996,
(hereinafter referred to as the "Agreement").

All capitalized terms, not otherwise defined in this Amendment, shall have
the meanings defined in the Agreement.

The parties agree to amend the Agreement as follows:

1.   Add new Section 3.5:

     "Notwithstanding any other provision of this Agreement, Marketing
     Services Fees for the 2007 season and all following seasons, shall not
     include any amount paid to distributors and/or retailers that is
     conditioned on activities by the distributors and/or retailers related
     to any product other than seed originally sold or transferred by D&PL
     or its Affiliates and containing the Licensed Technologies."

All other terms and conditions of the Agreement remain the same.

D&M PARTNERS                   DELTA AND PINE LAND COMPANY

By                             By
  ----------------------------   ---------------------------
Title                          Title
     -------------------------      ------------------------
Date                           Date
    --------------------------     -------------------------

MONSANTO COMPANY

By
  ---------------------------
Title
    -------------------------
Date
    -------------------------

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}]]