Document:

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                                                           EXHIBIT 10.12

                       SHARED SERVICES AGREEMENT

This Shared Services Agreement ("Agreement"), dated as of October 1, 2000, is
between Toyota Motor Credit Corporation, a California corporation with its
direct and indirect subsidiaries including specifically Toyota Motor
Insurance Services (collectively referred to herein as "TMCC"), and Toyota
Motor Sales, U.S.A., Inc., a California corporation, with its direct and
indirect subsidiaries (collectively referred to herein as "TMS").

WHEREAS, prior to October 1, 2000, TMCC was a wholly-owned subsidiary of TMS;
TMS provided certain services to TMCC, and TMCC provided certain services to
TMS;

WHEREAS, on October 1, 2000, ownership of TMCC is being transferred from TMS
to Toyota Financial Services Americas Corporation; and

WHEREAS, each party hereto desires to continue to use certain services of the
other in exchange for arms-length compensation as more particularly described
herein.

NOW, THEREFORE, based upon the foregoing and in consideration of the mutual
covenants and conditions contained in this Agreement, TMS and TMCC hereby
agree as follows:

1.Effective Date of Agreement.  This Agreement shall commence effective as of
October 1, 2000 and continue thereafter until this Agreement is terminated
pursuant to the terms of this Agreement.

2.Shared Services.

(a)By TMS.  If TMCC chooses to procure any of the facilities, equipment or
services set forth on Attachment A hereto from any TMS entity, TMS agrees to
perform such services and provide such facilities and equipment (the "TMS
Services") to TMCC either directly or through an affiliate or third party
vendor ("TMS Service Vendor") at fair, arm's length prices for such TMS
Services as mutually agreed to by the parties. TMS agrees that the TMS
Services to be performed by it will be performed in accordance with its
normal procedures (as they may be amended from time to time) and using the
same level of service and care that it follows in performing services for its
own account.

(b)By TMCC.  If TMS chooses to procure any of the facilities, equipment or
services set forth on Attachment B hereto from any TMCC entity, TMCC agrees
to perform such services and provide such facilities and equipment (the "TMCC
Services") to TMS either directly or through an affiliate or third party
vendor ("TMCC Service Vendor") , at fair, arm's length prices for such TMCC
Services as mutually agreed to by the parties. TMCC agrees that the TMCC
Services to be performed by it will be performed in accordance with its
normal procedures (as they may be amended from time to time) and using the
same level of service and care that it follows in performing services for its
own account.

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(c)Shared Services.  The TMS Services and the TMCC Services are referred to
as the "Shared Services".

(d)Changes in Scope. The parties may at any time by mutual written agreement
modify and amend the Shared Services to be provided hereunder. If any such
change requires an increase or decrease in the cost of or in the time
required for the performance of any Shared Service, or otherwise affects any
other provision of this Agreement, the parties shall agree to an equitable
adjustment to the compensation (consistent with arm's length pricing), terms
of performance and such other provisions of this Agreement as may be
affected, and this Agreement shall be changed or modified in writing
accordingly.

3.Compensation for Shared Services.

(a)Compensation to TMS. TMS shall be entitled to compensation (the "TMS
Compensation") calculated on a fair, arm's length pricing basis for each
particular TMS Service procured by TMCC hereunder, as mutually agreed to by
the parties, as consideration for the TMS Services hereunder.

(b)Compensation to TMCC. TMCC shall be entitled to compensation (the "TMCC
Compensation") calculated on a fair, arm's length pricing basis for each
particular TMCC Service procured by TMS hereunder, as mutually agreed to by
the parties, as consideration for the TMCC Services hereunder.

(c)Review of Prices and Services.  TMS and TMCC periodically will review and
evaluate the pricing and the fee methodology for each Shared Service, at
least once a year, to ensure that said pricing and fee methodology fairly
reflect arm's length pricing. In addition, at least once a year, TMS and TMCC
will review the types of Shared Services provided and the service levels for
such Shared Services.

(d)Payment of Compensation.  Payment of the TMS Compensation to TMS and of
the TMCC Compensation to TMCC shall be made quarterly in United States
dollars, and shall be due and owing to the party performing such Shared
Services after the other party's receipt of the charges owed.

(e)Proposed Change In Shared Service.  In the event that the party providing
a Shared Service ("Provider") intends to implement a change in a Shared
Service (including any changes involving a TMS or TMCC Service Vendor or the
services provider by such Service Vendor) which would have a material impact
on the Shared Service being provided or the compensation payable by the other
party, then the Provider shall give the other party hereto adequate notice
(of at least 120 days) prior to implementation of such change, full and
complete information about the change, and an opportunity to provide input
and make an evaluation of such change. If the party receiving the Shared
Service does not agree to the change, it may elect to cease procuring that
Shared Service from the Provider. However, the Provider shall continue to
provide the Shared Service (at the same service levels and for the same
compensation) for a period of six months, or such other period as is mutually
agreeable to the parties.

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(f)Records.  Each party will maintain a record of the particular Shared
Services rendered by it under this Agreement.  Each party will keep these
records throughout the term of this Agreement, which records shall be
available for inspection by the other party on reasonable request.  At the
termination of this Agreement, all the records maintained hereunder by the
party providing the Shared Services shall be given to the other party
procuring such Shared Services.  The Provider may retain copies of such
records.

4.Direct Billing by Service Vendors.

TMS will use its best efforts to arrange for direct billing to TMCC of fees
and costs charged by TMS Service Vendors ("TMS Vendor Fees") performing
services for TMCC. Where such direct billing is not possible, TMCC shall
reimburse TMS for TMCC's allocated pro-rata share of the TMS Vendor Fees
charged for performance of services for TMCC by a TMS Service Vendor. Such
reimbursement shall be made by TMCC to TMS after TMCC's receipt of such
allocation, accompanied by any supporting documentation.

TMCC will use its best efforts to arrange for direct billing to TMS of fees
and costs charged by TMCC Service Vendors ("TMCC Vendor Fees") performing
services for TMS. Where such direct billing is not possible, TMS shall
reimburse TMCC for TMS' allocated pro-rata share of the TMCC Vendor Fees
charged for performance of services for TMS by a TMCC Service Vendor. Such
reimbursement shall be made by TMS to TMCC after TMS' receipt of such
allocation, accompanied by any supporting documentation.

5.Employees; Standard of Performance. Each party shall furnish, supervise,
and control its personnel as is necessary to perform its respective Shared
Services under this Agreement. Each party will pay all salaries and expenses
of, and all federal, social security, unemployment (federal and state) taxes,
and any other payroll or withholding taxes applicable to personnel assigned
by the party to perform any Shared Services, and shall comply with all laws
or regulations relating to employment of such personnel in connection with
the Shared Services.  Each party agrees that the Shared Services to be
performed by it will be performed in accordance with its normal procedures
(as they may be amended from time to time) and using the same level of
service and care that it follows in performing services for its own account.
Each party agrees that the Shared Services to be performed by it will be
performed by qualified employees and in a competent manner.

6.Independent Contractor.  Each party will be considered, for all purposes,
an independent contractor of the other party, and neither party will,
directly or indirectly, act as an agent, servant, or employee of the other
party, or make any commitments or incur any liabilities on behalf of the
other party without such other party's prior written consent except for those
relating to Shared Services to be provided in accordance with this Agreement.

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7.Termination.

(a)Either party may terminate this Agreement in its entirety by giving the
other party six months prior written notice. In addition, either party may
terminate its obligation to provide or receive a particular Shared Service by
giving the other party six months prior written notice.

(b)In the event of default hereunder by either party, the nondefaulting party
may give notice of the default to the defaulting party.  If the defaulting
party does not cure within thirty (30) days of the written notice, the
nondefaulting party may terminate this Agreement by giving written notice of
termination upon the expiration of thirty (30) days thereafter.

(c)In the event of any termination of this Agreement, each party shall bill
the other for all compensation owed for Shared Services performed  prior to
the termination of the Agreement, and each party shall pay such compensation
after receipt of the charges.

8.Confidential Information. Except as required by law, each party agrees not
to use or disclose (nor allow any third party (other than a TMS or TMCC
Service Vendor) to use or disclose) to anyone other than its employees and
designated authorized representatives and the employees and designated
authorized representatives of a TMS or TMCC Service Vendor during the term of
this Agreement and thereafter any Confidential Information of the other
party.  For purposes of this Agreement, "Confidential Information" is (a)
non-public information of a party contained in any materials delivered to the
other party pursuant to this Agreement, including, without limitation, all
information transmitted in writing, orally, visually (i.e., video terminal
display), electronically or through other means, and (b) non-public
information that relates to the business, technologies, know-how, other
intellectual property and financial affairs of a party or to that of any
customers or affiliates of such party.  "Confidential Information" shall not
include information that: (a) is or becomes known to the public through no
fault of the party charged with keeping such information confidential; (b)
becomes known to a party by disclosure from a third party who has a lawful
right to disclose the information; or (c) is authorized to be disclosed by
the prior written consent of the other party. All Confidential Information of
a party shall remain the property of such party.  On termination of this
Agreement, each party either shall deliver to the other party all
Confidential Information of such other party and any other material obtained
during the course of performance of the Services hereunder in which the other
party has exclusive and proprietary rights, or certify the destruction
thereof to the other party, or retain such Confidential Information in full
compliance with the confidentiality requirements of this Agreement.

9.Insurance; Risk of Loss.  During the term of this Agreement, each party at
its own expense will obtain appropriate insurance coverage customarily
carried by a company in its line of business and in its location

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Said insurance shall include: (a) commercial general liability insurance with
minimum coverage of Ten Million Dollars ($10,000,000) combined single limit
per occurrence for bodily injury and/or property damage; and (b) employer's
liability insurance in a minimum amount of One Million Dollars ($1,000,000),
and worker's compensation insurance in an amount satisfying applicable laws.

Each party shall provide the other with proof of the insurance coverages
required hereunder in the form of one or more Certificates of Insurance, upon
request.

All insurance coverages required hereunder shall be procured from insurers
with an A.M. Best's performance rating of at least A- and with a financial
size category of at least Class VII.

TMCC, at its option, may choose to obtain its insurance coverage by
participating in insurance programs obtained by TMS, in which case TMCC shall
pay its fair share allocation as determined by the parties on a fair, arms
length basis.

10.Indemnification.  Each party does hereby agree to defend, indemnify, and
hold harmless the other party (and its directors, officers, employees,
agents, and contractors) from any and all claims and liabilities of any type
whatsoever arising out of any negligent act or omission by such party in
performing the Shared Services, its officers, employees, agents, or
contractors (including with respect to TMS, any TMS Service Vendors and, with
respect to TMCC, any TMCC Service Vendors) that may now or hereafter arise
out of or result from or be related to the provision of the Shared Services
pursuant to this Agreement.

11.Communications.  Any and all notices among the parties hereto or in
connection herewith shall be in writing, addressed to the party at the notice
address set forth below each name on the signature page hereof or such other
address as shall be given by either party to the other in writing. All such
communications and notices shall be effective, if mailed, five (5) business
days after being deposited in the mails with first class postage prepaid, or
if given by fax, when sent to the fax number set forth below the names on the
signature page hereof or if delivered by electronic mail, by actual delivery
to the electronic mail address of the appropriate recipient under this
Agreement or if personally delivered, upon such actual delivery to the
appropriate recipient under this Agreement.

12.Dispute Resolution.

(a)Escalation.  (i)Except for claims for provisional equitable relief, if any
party shall have any dispute with respect to the terms and conditions of this
Agreement, or any subject matter referred to in or governed by this
Agreement, that party shall provide written notification to the other party
in the form of a claim identifying the issue and including a detailed reason
for the claim.  The receiving party shall respond in writing to the claim
within thirty (30) days from the date of receipt of the claim document.  The
party filing the claim shall have an additional ten (10) days after the
receipt of the response to either accept the resolution offered by the other
party or request that the claim be escalated.  (ii)  If the above negotiation
procedures do not lead to resolution of the claim, then either party by

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written notice to the other may elevate the dispute or claim for resolution
to the next level of management ("Senior Manager") responsible for the
project of each Party ("Second Level Escalation).  Immediately upon issuance
of a Second Level Escalation notice by a party, the Senior Managers of each
Party shall negotiate in good faith and undertake to resolve such dispute or
claim within thirty (30) days of the issuance of the Second Level Escalation
notice.  (iii)  If the immediately preceding negotiation procedures do not
lead to resolution of the claim, then either party by written notice to the
other may elevate the dispute or claim again for resolution to the Executive
Vice President (or similar title) of TMS and the Senior Vice
President/General Manager (or similar title) of TMCC for resolution.  Upon
receipt by the other party of such written notice, the Executive Vice
President of TMS and to the Senior Vice President/General Manager of TMCC
shall negotiate in good faith and undertake to resolve such dispute or claim
within thirty (30) days of the issuance of the notice of such escalation. The
location, format, frequency, duration and conclusion of these elevated
discussions shall be left to the discretion of the representatives involved.
If the negotiations conducted pursuant to this subsection (a) do not lead to
resolution of the underlying dispute or claim, then either party may seek
alternate dispute resolution pursuant to subsection (b) below.  The adherence
to or failure to follow these dispute resolution procedures shall not waive
either party's rights or duties under this Agreement.

(b)Alternative Dispute Resolution.  Except for claims for equitable relief,
if any dispute should arise between the parties which cannot be resolved
pursuant to subsection (a) above, then before resorting to any other legal
remedy the parties shall attempt in good faith to resolve any such
controversy or claim by mediation before and in compliance with the rules
established by any mutually acceptable alternative dispute resolution
organization, (including, but not limited to, Endispute, the Center for
Public Resources ("CPR"), the Private Adjudication Center, or what is
commonly referred to as Rent-a-Judge).  The selection of an organization
shall be made within ten (10) business days after notification from one party
to the other.  If an organization/judge and applicable rules have not been
agreed upon within such ten-day period, then the dispute shall be mediated in
accordance with the Center for Public Resources Model Procedure for Mediation
of Business Disputes, and a single mediator will be chosen by CPR.  If the
parties are unable to resolve the dispute within sixty (60) days of
submission to the mediation organization, then either party may file suit in
any court of competent jurisdiction in the County of Los Angeles, State of
California.

12.Assignment.  This Agreement shall be binding upon and inure to the benefit
of the parties hereto and their respective successors and assigns, provided
that neither party hereto may assign any of its rights or obligations
hereunder without the prior written consent of the other; provided further,
however, that the foregoing shall not prevent a party from assigning its
obligation to provide some or all of the Shared Services to an affiliated
entity or a third party vendor.

13.Counterparts.  This Agreement may be executed in counterparts, any and all
of which when taken together shall constitute one and the same instrument,
and each party may execute this Agreement by signing any such counterpart.

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14.Entire Agreement.  This Agreement constitutes the entire and only
agreement between the parties hereto with respect to the subject matter
hereof and supersedes any and all prior agreements, arrangements,
communications or representations whether oral or written, between the
parties relating to the subject matter hereof.

15.Amendments.  Any amendment or waiver of any provision of this Agreement
shall be in writing and signed by all the parties hereto.  No failure or
delay by any of the parties hereto in exercising any right, power or
privilege hereunder shall operate as a waiver thereof, and any waiver of any
breach of the provisions of this Agreement shall be without prejudice to any
rights with respect to any other or further breach hereof.

16.Governing Law.  This Agreement shall be governed by and construed in
accordance with the laws of California.

17.Survival.  Paragraphs 7(c), 8, 9, 10 and 12 above shall survive
termination of this Agreement.

18.No Third Party Rights.  Nothing in this Agreement, whether expressed or
implied, is intended to confer any rights or remedies under or by reason of
this Agreement on any persons other than the parties to it and their
respective permitted successors and assigns, nor is anything in this
Agreement intended to relieve or discharge the obligation or liability of any
third persons to any party to this Agreement, nor shall any provision give
any third persons any right of subrogation or action over or against any
party to this Agreement.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed and delivered by their respective authorized representatives as of
the date first indicated above.

TOYOTA MOTOR CREDIT CORPORATION              TOYOTA MOTOR SALES, U.S.A., INC.
On behalf of itself and its direct           On behalf of itself and its
and indirect subsidiaries                    direct and indirect
                                             subsidiaries

By: /s/ George E. Borst                      By:/s/ Douglas M. West
Name:   George E. Borst                      Name:  Douglas M. West
Title:  President and                        Title: Senior Vice President
        Chief Executive Officer

Fax:  (310) 468-3501                         Fax:  (310) 468-7808
Notice Address:                              Notice Address:
19001 S. Western Avenue                      19001 S. Western Avenue
Torrance, California 90509                   Torrance, California 90509

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                                                          ATTACHMENT A
                                                          TMS SERVICES

TMS SERVICE               RESPONSIBLE TMS DEPARTMENT      FEE METHODOLOGY

Pension and Savings       Corporate Finance and           1) Direct costs
Management                Accounting                      billed for TMS
                                                          Contributions to
                                                          TMCC employees'
                                                          pension and savings
                                                          plans (i.e. annual
                                                          pension cost and
                                                          employer match);
                                                          plus 2) TMS
                                                          administration fee
                                                          based on TMCC
                                                          Headcount Ratio.

Internal Audit            Corporate Finance and           TMS administration
                          Accounting                      fee based on TMCC
                                                          Headcount Ratio

Accounts Payable          Corporate Finance and           Direct bill based
                          Accounting                      upon annual volume
                                                          of checks
                                                          processed, on a per
                                                          check charge

Payroll                   Corporate Finance and           1)Vendor Fee; plus
                          Accounting                      2)TMS
                                                          Administration fee
                                                          Based on TMCC
                                                          Headcount Ratio

Tax administration,       Corporate Tax                   TMS administration
Processing and                                            fee based on TMCC
Reporting                                                 Headcount Ratio

Associate Services        Corporate Services              Actual costs and
(Dining facilities,                                       expenses incurred
fitness center,                                           by TMCC
cleaners)

Vehicle Services          Corporate Services              Actual costs and
(company car,                                             expenses incurred
employee lease, etc)                                      by TMCC

Material Distribution     Corporate Services              Actual costs and
Center (copy services,                                    expenses incurred
Mail delivery and                                         by TMCC
Supplies at Torrance HQ)

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Real Estate and           Corporate Services              Actual pro rata
Facilities                                                costs per square
(administration and                                       foot of usable
project Headquarters                                      space based on
facilities and Field                                      TMCC occupancy
facilities)

Human Resources           Human Resources Dept.           TMS administration
Administration                                            fee based on
(employee compensation                                    estimated use by
and benefits, HR systems)                                 TMCC of TMS HR Dept

Legal and Risk            Legal Department                Pro rata share of
Management:                                               actual TMS
Business law, product                                     associate costs per
liability defense, risk                                   use of TMS Legal
management (insurance                                     associate time by
coverage for TMCC)                                        TMCC.

Information Systems:      IS Department                   Charge by IS based
Administration of                                         on estimated use of
Architecture and                                          IS facilities
Infrastructure for                                        programs and
Telecommunications,                                       services by TMCC
Network, mainframe
systems, and production
services and support

University of Toyota      University of Toyota            Charge per course
(education and training                                   for courses
programs for Associates                                   attended or
and Dealer personnel)                                     requisitioned by
                                                          TMCC

TMS Purchasing/Contracts  Corporate Services              Allocation of costs
Administration                                            based on TMCC share
                                                          Of total contracts
                                                          Handled by
                                                          Purchasing

Travel Services           Corporate Services              Actual costs and
                                                          Expenses incurred
                                                          By TMCC

Security, Disaster        Corporate Safety and            TMS administration
Management, Emergency     Environmental Management        fee based on TMCC
Planning                                                  Headcount Ratio.

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                                                          ATTACHMENT B
                                                          TFS SERVICES

TMCC SERVICE              RESPONSIBLE TMCC DEPARTMENT     FEE METHODOLOGY

Customer Retention        Toyota Financial Services       50% of the TFSC
Services                  Center-Iowa                     Customer Services
                                                          Department's annual
                                                          Costs

Associate lease and       Vehicle Remarketing             Administration fee
Fleet vehicles            Department                      based upon the
Remarketing                                               number of TMS units
                                                          Relative to overall
                                                          Units remarketed.

Administer the Executive  Commercial Finance              Difference between
Home Loan Program         Department                      market and contract
                                                          Interest rates for
                                                          TMS VPs and above.12222000 S8 EX4-1

                                                                   Exhibit 4.1

     

DEL MONTE FOODS COMPANY

NON-EMPLOYEE DIRECTOR AND INDEPENDENT CONTRACTOR

1997 STOCK INCENTIVE PLAN

(As Amended Through November 15, 2000)

1.Purpose of the Plan

This Del Monte Foods Company Non-Employee Director and Independent Contractor 1997 Stock Incentive Plan is intended to promote
the interests of the Company by providing certain non-employee directors and independent contractors of the Company with incentives
and rewards to encourage them to continue as service providers to the Company.

2.Definitions

As used in the Plan, the following definitions apply to the terms indicated below:

(a)"Board of Directors" shall mean the Board of Directors of Del Monte or such Board of Directors of the Board of
Directors as may be designated by the Board of Directors.

(b)"Change of Control" shall mean the occurrence of one or more of the following events:  

(1)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 Company 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 Exchange Act (a "Group"), together with any Affiliates (as
defined below) thereof other than to TPG Partners, L.P. ("TPG") or its Affiliates;

(2)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 Company ("Capital
Stock") of any plan or proposal for the liquidation or dissolution of the Company; 

(3)(i) any Person or Group (other than TPG or its Affiliates) 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 Company and (ii) TPG and its Affiliates shall beneficially own, directly or
indirectly, in the aggregate a lesser percentage of the Voting Stock of the Company than such other Person or Group; or 

	the replacement of a majority of the Board of Directors over a two-year period from the directors who constituted the Board of
Directors 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 then still in office who either were members of such Board of Directors at the beginning of such period or whose
election as a member of such Board of Directors was previously so approved or who were nominated by, or designees of TPG or its
Affiliates (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 ( a "Proxy Contest") including by reason of any agreement intended
to avoid or settle any Election Contest or Proxy Contest; or
	a merger or consolidation involving the Company in which the Company is not the surviving corporation, or a merger or
consolidation involving the Company in which the Company is the surviving corporation but the holders of shares of Common Stock
receive securities of another corporation but the holders of shares of Common Stock receive securities of another corporation and/or
other property, including cash, or any other similar transaction.

For purposes of this Section 2(b), "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.

(c)"Code" shall mean the Internal Revenue Code of 1986, as amended from time to time.

(d)"Common Stock" shall mean common stock of Del Monte, $.01 par value per share.

(e)"Company" shall mean Del Monte and its subsidiaries.

(f)"Del Monte" shall mean Del Monte Foods Company, a Maryland corporation.

(g)"Exchange Act" shall mean the Securities Exchange Act of 1934, as amended.

(h)"Option" shall mean an option to purchase shares of Common Stock granted pursuant to Section 6 hereof.

(i)"Participant" shall mean a person who is eligible to participate in the Plan and to whom an Option is granted
pursuant to the Plan, and upon his death, his successors, heirs, executors and administrators, as the case may be.

(j)"Plan" shall mean this Del Monte Foods Company Non-Employee Director and Independent Contractor 1997 Stock
Incentive Plan, as it may be amended from time to time.

(k)A "Public Market" for the Common Stock shall be deemed to exist if the Common Stock is registered under Section
12(b) or 12(g) of the Exchange Act, or if trading regularly occurs in such Common Stock in, on or through the facilities of
securities exchanges and/or inter-dealer quotation systems in the United States (within the meaning of Section 902(n) of the
Securities Act) or any designated offshore securities market (within the meaning of Rule 902(a) of the Securities Act).

(l)"Securities Act" shall mean the Securities Act of 1933, as amended.

3.Stock Subject to the Plan

Subject to adjustment as provided in Section 7 hereof, the Board of Directors may grant Options to Participants with respect
to 226,701 shares of Common Stock.  In the event that any outstanding Option expires, terminates or is cancelled for any reason, the
shares of Common Stock subject to the unexercised portion of such Option shall again be available for grants under the Plan.

Shares of Common Stock issued under the Plan may be either newly issued shares or treasury shares, as determined by the Board of
Directors.

4.Administration of the Plan

The Plan shall be administered by the Board of Directors.  The Board of Directors shall from time to time designate the
persons who shall be granted Options, the number of shares subject to each Option and the terms and conditions on which each Option
shall be granted.

The Board of Directors shall have full authority to administer the Plan, including authority to interpret and construe any
provision of the Plan and the terms of any Option issued under it and to adopt such rules and regulations for administering the Plan
as it may deem necessary.  Decisions of the Board of Directors shall be final and binding on all parties and all decisions,
determinations, selections and other actions permitted or required to be taken or made by the Board of Directors with respect to the
Plan shall be subject to the absolute discretion of the Board of Directors.  No member of the Board of Directors shall be liable to
any Participant for any action, omission, or determination relating to the Plan.

5.Eligibility

The persons who shall be eligible to receive Options pursuant to the Plan shall be such non-employee directors of the Company
and independent contractors retained by the Company as the Board of Directors shall select from time to time.

6.Options

Each Option granted pursuant to the Plan shall be evidenced by an agreement in the form attached hereto as Exhibit A.  Options
shall comply with and be subject to the following terms and conditions:

(a)Identification of Options.  All Options shall be clearly identified in the agreement evidencing their grant as non-
qualified stock options that are not intended to qualify as "incentive stock options" within the meaning of Section 422 of
the Code.

(b)Exercise Price.  The exercise price per share of each Option shall be such price as the Board of Directors shall
determine at the time at which the Option is granted.

(c)Term and Exercise of Options.  Each Option shall be exercisable on such date or dates, during such period and for
such number of shares of Common Stock as shall be determined by the Board of Directors on the day on which such Option is granted and
set forth in the Option agreement with respect to such Option; provided, however, that no Option shall be exercisable
after the expiration of ten (10) years from the date such Option is granted; and provided, further, that each Option
shall be subject to earlier expiration, termination, cancellation or exercisability as provided in this Plan.

(d)Effect of Termination of Membership on Board; Independent Contractor Status.

(1)In the event of the termination of the membership of a Participant on the Board of Directors for any reason at any time
other than on account of permanent disability or death of the Participant (i) Options granted to such Participant, to the extent that
they were exercisable at the time of such termination, shall remain exercisable until the expiration of ninety (90) days after such
termination, on which date they shall expire, and (ii) Options granted to such Participant, to the extent that they were not
exercisable at the time of such termination, shall expire at the close of business on the date of such termination; provided,
however, that no Option shall be exercisable after the expiration of its term.  In the event of the termination of membership
of a Participant on the Board of Directors on account of the permanent disability or death of the Participant, (x) Options granted to
such Participant, to the extent that they were exercisable at the time of such termination, shall remain exercisable until the
expiration of one (1) year after such termination, on which date they shall expire, and (y) Options granted to such Participant, to
the extent that they were not exercisable at the time of such termination, shall expire at the close of business on the date of such
termination; provided, however, that no Option shall be exercisable after the expiration of its term.  The agreement
evidencing the grant of an Option to any person who is not a member of the Board of Directors shall include such terms and conditions
as the Board of Directors deems appropriate concerning the termination of the Option prior to the expiration of its term.  

(e)Certain Terms and Conditions

(1)Each Option shall be exercisable in whole or in part with respect to not less than one share of Common Stock.  The
partial exercise of an Option shall not cause the expiration, termination or cancellation of the remaining portion thereof.

(2)An Option shall be exercised by delivering notice to Del Monte's principal office in the form attached hereto as Exhibit B,
to the attention of its Chief Financial Officer with a copy to its General Counsel, no less than three business days in advance of
the effective date of the proposed exercise.  Such notice shall specify the number of shares of Common Stock with respect to which
the Option is being exercised and the effective date of the proposed exercise and shall be signed by the Participant.  The
Participant may withdraw such notice at any time prior to the close of business on the business day immediately preceding the
effective date of the proposed exercise.  Payment for shares of Common Stock purchased upon the exercise of an Option shall be made
on the effective date of such exercise in cash, by certified check, bank cashier's check or wire transfer, or by tender to Del Monte
of shares of Common Stock already owned and held by the Participant for at least six (6) months, which shares shall be valued as
determined by the Board of Directors on the effective date of the proposed exercise.  In the event that, prior to the existence of a
Public Market for the Common Stock, a Participant elects to pay the exercise price upon the exercise of an Option by the tender of
previously-owned shares, the delivery by Del Monte of certificates representing the shares of Common Stock purchased upon such
exercise shall be deferred pending a determination of the exact number of the shares of Common Stock required to be tendered by the
Participant.

(3)Certificates for shares of Common Stock purchased upon the exercise of an Option shall be issued in the name of the
Participant and delivered to the Participant as soon as practicable following the effective date on which the Option is
exercised.

(4)During the lifetime of a Participant, each Option granted to him shall be exercisable only by him.  No Option shall be
assignable or transferable otherwise than by will or by the laws of descent and distribution.  Notwithstanding the preceding
provisions of this Section 6(e)(4), a Participant may assign his rights with respect to any Option granted to him to a trust or
custodianship the beneficiaries of which may include only the Participant, the Participant's spouse, or the Participant's lineal
descendants (by blood or adoption).  In the event of any such assignment, such trust or custodianship shall be subject to all the
restrictions, obligations and responsibilities as apply to the Participant under the Plan and shall be entitled to all the rights of
the Participant under the Plan.

(f)Consequences Upon Certain Transactions.  Not more than ten (10) days prior to a Change of Control, all outstanding
Options and Stand-Alone SARs shall vest and become immediately exercisable.

7.  Adjustment Upon Changes in Common Stock

(a)Subject to any required action by the shareholders of Del Monte, in the event of any increase or decrease in the number
of issued shares of Common Stock resulting from a subdivision or consolidation of shares of Common Stock or the payment of a stock
dividend (but only on the shares of Common Stock), or any other increase or decrease in the number of such shares effected by Del
Monte without receipt or payment of consideration, the Board of Directors shall proportionally adjust the number of shares of Common
Stock subject to each outstanding Option and the exercise price per share of Common Stock of each such Option.

(b)Subject to any required action by the shareholders of Del Monte, in the event that Del Monte shall be the surviving
corporation in any merger or consolidation (except a merger or consolidation as a result of which the holders of shares of Common
Stock receive securities of another corporation), each Option outstanding on the date of such merger or consolidation shall pertain
to and apply to the securities which a holder of the number of shares of Common Stock subject to such Option would have received in
such merger or consolidation.

(c)In the event of a dissolution or liquidation of Del Monte, or a sale of all or a substantial portion of the Common Stock
held by TPG, the Committee shall have the power to:

(i)cancel, effective immediately prior to the occurrence of such event, each Option outstanding immediately prior to such
event (whether or not then exercisable), and, in full consideration of such cancellation, pay to the Participant to whom such Option
was granted an amount in cash, for each share of Common Stock subject to such Option, equal to the excess of (A) the value, as
determined by the Committee in good faith, of the property (including cash) received by the holder of a share of Common Stock as a
result of such event over (B) the exercise price of such Option; or 

(ii)permit Participants to exercise their Options and participate in such transaction on a basis no less favorable than that
afforded other owners of Common Stock.

(d)In the event of any change in the capitalization of Del Monte or corporate change other than those specifically referred to
herein, the Board of Directors will make such adjustments in the number and class of shares subject to Options outstanding on the
date on which such change occurs and in the per share exercise price of each such Option as the Board of Directors may consider
necessary or appropriate.

(e)Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision or
consolidation of shares of stock of any class, the payment of any dividend, any increase or decrease in the number of shares of stock
of any class or any dissolution, liquidation, merger or consolidation of Del Monte or any other corporation.  Except as expressly
provided in the Plan, no issuance by Del Monte of shares of stock of any class, or securities convertible into shares of stock of any
class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number of shares of Common Stock subject
to an Option or the exercise price of any Option.

8.Rights as a Stockholder

(a)No person shall have any rights as a stockholder with respect to any shares of Common Stock covered by or relating to
any Option granted pursuant to this Plan until the date of the issuance of a stock certificate with respect to such shares.  

(b)Notwithstanding anything herein to the contrary, prior to the existence of a Public Market, Del Monte shall not be
obligated to cause to be issued or delivered to or for the benefit of any Participant any certificates evidencing shares of Common
Stock pursuant to the Plan unless and until such Participant executes a Stockholders' Agreement in the form attached hereto as
Exhibit C or, in the case of a Participant who is not a member of the Board of Directors, an agreement in such form as the Board of
Directors deems appropriate. 

9.No Special Rights; No Right to Option

(a)Nothing contained in the Plan or any Option shall confer upon any Participant any right with respect to the
continuation of his relationship with the company or interfere in any way with the right of the Company at any time to terminate such
relationship.

(b)No person shall have any claim or right to receive an Option hereunder.  The Board of Directors' granting of an Option to a
Participant at any time shall neither require the Board of Directors to grant an Option to such Participant or any other Participant
or other person at any time nor preclude the Board of Directors from making subsequent grants to such Participant or any other
Participant or other person.

10.Securities Matters

(a)Del Monte shall be under no obligation to effect the registration pursuant to the Securities Act of any shares of
Common Stock to be issued hereunder or to effect similar compliance under any state laws.  Notwithstanding anything herein to the
contrary, Del Monte shall not be obligated to cause to be issued or delivered any certificates evidencing shares of Common Stock
pursuant to the Plan unless and until Del Monte is advised by its counsel that the issuance and delivery of such certificates is in
compliance with all applicable laws, regulations of governmental authority and the requirements of any securities exchange on which
shares of Common Stock are traded.  The Board of Directors may require, as a condition of the issuance and delivery of certificates
evidencing shares of Common Stock pursuant to the terms hereof, that the recipient of such shares make such covenants, agreements and
representations, and that such certificates bear such legends, as the Board of Directors deems necessary or desirable.

(b)The exercise of any Option granted hereunder shall only be effective at such time as counsel to Del Monte shall have
determined that the issuance and delivery of shares of Common Stock pursuant to such exercise is in compliance with all applicable
laws, regulations of governmental authority and the requirements of any securities exchange on which shares of Common Stock are
traded.  Del Monte may, in its sole discretion, defer the effectiveness of any exercise of an Option granted hereunder in order to
allow the issuance of shares of Common Stock pursuant thereto to be made pursuant to registration or an exemption from registration
or other methods for compliance available under federal or state securities laws.  Del Monte shall inform the Participant in writing
of its decision to defer the effectiveness of the exercise of an Option granted hereunder.  During the period that the effectiveness
of the exercise of an Option has been deferred, the Participant may, by written notice, withdraw such exercise and obtain the refund
of any amount paid with respect thereto.

(c)In the event that the Board of Directors defers the effectiveness of the exercise by a Participant of an Option granted
hereunder in order to allow the issuance of shares of Common Stock pursuant thereto to be made pursuant to registration or an
exemption from registration or other methods for compliance available under federal or state securities laws, such Participant may
elect, by delivery of written notice by the Participant to the Company not later than thirty (30) days following his receipt of
notice of such deferral or the expiration of such deferral, to surrender the exercisable portion of such Option (or any portion
thereof) to the Company in consideration for a lump sum payment in cash in an amount equal to the product of (A) the excess of (i)
the value of a share of Common Stock as determined by the Board of Directors as of the date of surrender over (ii) the per share
exercise price of the Option and (B) the number of shares with respect to which such Participant desires and is entitled to exercise
such Option.  Notice shall be delivered in person or by certified mail, return receipt requested and shall be deemed to have been
given when personally delivered or three (3) days after mailing.

11.Termination and Amendment of the Plan

The right to grant Options under the Plan will terminate on August 4, 2007.  The Board of Directors may at any time suspend or
terminate the Plan or revise or amend it in any respect whatsoever.

12.Transfers Upon Death

Upon the death of a Participant, outstanding Options granted to such Participant may be exercised only by the executors or
administrators of the Participant's estate or by any person or persons who shall have acquired such right to exercise by will or by
the laws of descent and distribution.  No transfer by will or the laws of descent and distribution of any Option, or the right to
exercise any Option, shall be effective to bind the Company unless the Board of Directors shall have been furnished with (a) written
notice thereof and with a copy of the will and/or such evidence as the Board of Directors may deem necessary to establish the
validity of the transfer and (b) an agreement by the transferee to comply with all the terms and conditions of the Option that are or
would have been applicable to the Participant and to be bound by the acknowledgements made by the Participant in connection with the
grant of the Option.

13.No Obligation to Exercise

The grant to a Participant of an Option shall impose no obligation upon such Participant to exercise such Option.

14.Expenses and Receipts

The expenses of the Plan shall be paid by the Company.  Any proceeds received by the Company in connection with any Option
will be used for general corporate purposes.

l5.Failure to Comply

In addition to the remedies of the Company elsewhere provided for herein, failure by a Participant to comply with any of the
terms and conditions of the Plan or the agreement executed by such Participant evidencing an Option, unless such failure is remedied
by such Participant within ten (10) days after having been notified of such failure by the Board of Directors, shall be grounds for
the cancellation and forfeiture of such Option, in whole or in part, as the Board of Directors, in its absolute discretion, may
determine.

16.Applicable Law

The Plan will be administered in accordance with the laws of the State of California, without reference to its principles of
conflicts of law.

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