Document:

exv10w3

Exhibit 10.3

WHITEWAVE PLATFORM

2008 SHORT-TERM INCENTIVE COMPENSATION PLAN

	 	 	 
	Purpose:

	 	To (i) align employee compensation with the annual
objectives of the company, (ii) motivate employees to create
sustained shareholder value, and (iii) ensure retention of
key employees by ensuring that compensation remains
competitive.
	 
	Participants:

	 	Key management employees, individual contributors, and
senior executive officers of Dean Foods WhiteWave Platform
who are in positions to influence and/or control results in
their specific areas of responsibility.
	 
	Payout
Criteria:

	 	The criteria for payment to Participants under this Plan and
the weighting of such criteria is based on position level in
the organization, performance against financial targets and
performance against individual objectives as
set forth below.

	 	 	 	 	 	 	 	 	 
	Participant Group	 	WhiteWave Objectives	 	 	 	 	 	 
	CEO & President,	 	20% Dean Foods Financial(s)
	 	 	 	 	 	 
	WhiteWave & Morningstar	 	40% Business Unit Financial(s)

      20% WhiteWave

     20% Morningstar

40% Individual Objectives
	 	 	 	 	 	 
	 	 	 
	 	 	 	 	 	 
	Senior Leadership Team	 	60% WhiteWave Financial(s)
	 	 	 	 	 	 
	(Senior Vice Presidents who are direct
reports to President, WhiteWave)	 	40% Individual Objectives

	 	 	 	 

	 	 	 
	 	 	 	 	 	 
	Brand Business Teams	 	20% WhiteWave Financial(s)

40% Brand Financial(s)

40% Individual Objectives
	 	 	 	 	 	 
	 	 	 
	 	 	 	 	 	 
	Functional Vice Presidents and Below	 	60% WhiteWave Financial(s)

40% Individual Objectives
	 	 	 	 	 	 

	 	 	 
	Payout Scales:

	 	The range of the financial component of the incentive
payout is 0% — 200% based on actual performance against
approved objectives. The range of the individual objective
component is 0% — 150% based on actual performance
against approved objectives.
	 
	 	 
	Objectives
Performance
Factor:

	 	Approved financial objectives and the range of performance
for each objective for the Plan Year along with the
corresponding payout scale based on actual performance will
be included in the Administrative Guidelines for the Plan.

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WHITEWAVE PLATFORM

2008 SHORT-TERM INCENTIVE COMPENSATION PLAN

	 	 	 
	Individual
Objectives:

	 	Each plan participant will have a component of their
incentive based on the attainment of certain specified
individual performance objectives as determined by the
Participant’s supervisor. Actual earned awards are based on
the individual’s performance rating under the WhiteWave
Performance Management Program (PMP). The Company will
provide guidelines for the determination of these awards on an
annual basis.
	 
	 	 
	 

	 	If financial performance exceeds 100% of target, then the individual
payout factor is multiplied by the financial payout factor for purposes of
calculating the individual component of the incentive award. If a
participant has 2 or more financial measures in the financial component,
then the financial payout factors are averaged on a pro rata basis to
determine if overall Financial performance exceeds 100% of target. If the
prorata average of the financial payout factors exceeds 100% of target,
then the prorata average of the financial factors is multiplied by the
Individual payout factor for purposes of calculating the individual
component of the incentive award.
	 
	 	 
	Adjustment of
Targets

	 	Upon the recommendation of the CEO, the Compensation
Committee may (but has no obligation to) adjust the
incentive criteria, targets or payout scale upon the
occurrence of extraordinary events or circumstances.
Significant acquisitions or dispositions of assets or
companies or issuances or repurchases of common stock or
other equity interests may, at the Compensation
Committee’s discretion, result in an adjustment to the
Dean Foods financial target or a region’s or business
unit’s financial target.
	 
	 	 
	Determination
of Individual
Target Incentive:

	 	Individual target incentives for specific positions are
included in the Dean Foods Integrated Compensation
Program. The Company may make adjustments to an
individual’s target incentive based on market conditions
or business requirements.
	 
	 	 
	Eligibility:

	 	Eligibility is determined by level in the company or as
approved by the CEO & President, WhiteWave and
Morningstar, or Executive Vice President Human
Resources, or their designate. Participants must be
actively employed by the Company on the date incentive
awards are paid in order to receive an incentive award,
except as otherwise provided by State law. If a
participant dies, becomes disabled, or retires prior to
the payment of awards, the participant may receive a
payout, at the time other incentive awards are paid,
based on actual time in the position and actual results
of the company. Eligibility and individual target
amounts may be prorated. A participant’s year-end base
salary will be used to

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WHITEWAVE PLATFORM

2008 SHORT-TERM INCENTIVE COMPENSATION PLAN

	 	 	 
	 

	 	calculate the incentive award. All proration of incentive awards will be
calculated based on whole month participation. If an employee becomes
eligible to participate in the plan, transfers or

becomes ineligible between the first day of the month and the
15th of the month, the incentive award will be calculated based
on full month participation. If the eligibility change occurs between the
16th of the month and the end of the month, the incentive award
will be calculated beginning with the full calendar month following the
change. Eligible participants who join the company on or after October
1st will receive a prorated award, if earned, with the
individual portion of the award calculated at target performance.
	 
	 	 
	Special Awards:

	 	Upon recommendation of the Dean Foods Company CEO and the President, WhiteWave,
special awards may be made to individual employees in the Company in recognition of
extraordinary achievement which has created or will create value for Dean Foods and its
shareholders.

3exv10w4

Exhibit 10.4

MORNINGSTAR PLATFORM

2008 SHORT-TERM INCENTIVE COMPENSATION PLAN

	 	 	 
	Purpose:

	 	To (i) align employee compensation with the annual
objectives of the company, (ii) motivate employees to create
sustained shareholder value, and (iii) ensure retention of
key employees by ensuring that compensation remains
competitive.
	 
	 	 
	Participants:

	 	Key management employees, individual contributors, and
senior executive officers of Dean Foods Morningstar Platform
who are in positions to influence and/or control results in
their specific areas of responsibility.
	 
	 	 
	Payout
Criteria:

	 	The criteria for payment to Participants under this Plan and
the weighting of such criteria is based on position level in
the organization, performance against financial targets and
performance against individual objectives as
set forth below.

	 	 	 
	Participant Group	 	Morningstar Objectives
	COO Morningstar
	 	20% Dean Foods Financial(s)
	 
	 	40% Morningstar Financial(s)
	 
	 	40% Individual Objectives
	 
	 	 
	All Other
	 	60% Morningstar Financial(s)
	 
	 	40% Individual Objectives

	 	 	 
	Payout Scales:

	 	The payout factor for the financial component of the
incentive payout is 0% — 200% based on actual performance
against approved objectives. The payout factor for the
individual objective component is 0% — 150% based on actual
performance against approved objectives.
	 
	 	 
	Objectives
Performance
Payout Factor:

	 	Approved financial objectives and the range of performance
for each objective for the Plan Year along with the
corresponding payout factor scale based on actual
performance will be included in the Administrative
Guidelines for the Plan.
	 
	 	 
	Individual
Objectives:

	 	Each plan participant will have a component of their
incentive based on the attainment of certain specified
individual performance objectives as determined by the
Participant’s supervisor. Actual earned awards are based
on the individual’s performance rating under the One Dean
Performance Management Program (PMP). The Company will
provide guidelines for the determination of these awards on
an annual basis.
	 
	 	 
	 

	 	If financial performance exceeds 100% of target, then the individual
payout factor is multiplied by the financial payout factor for purposes of
calculating the individual component of the incentive award. If a
participant has 2 or more financial measures in the financial component,
then the financial payout factors are averaged on a pro rata basis to
determine if overall Financial performance exceeds 100% of target. If the
prorata average of

1

 

MORNINGSTAR PLATFORM

2008 SHORT-TERM INCENTIVE COMPENSATION PLAN

	 	 	 
	 

	 	the financial payout factors exceeds 100% of target,
then the prorata average of the financial factors is multiplied by the
	 
	 	 
	 

	 	Individual payout factor for purposes of calculating the individual
component of the incentive award.
	 
	 	 
	Adjustment of
Targets

	 	Upon the recommendation of the CEO, the Compensation
Committee may (but has no obligation to) adjust the
incentive criteria, targets or payout scale upon the
occurrence of extraordinary events or circumstances.
Significant acquisitions or dispositions of assets or
companies or issuances or repurchases of common stock or
other equity interests may, at the Compensation
Committee’s discretion, result in an adjustment to the
Dean Foods financial target or a region’s or business
unit’s financial target.
	 
	 	 
	Determination
of Individual
Target Incentive:

	 	Individual target incentives for specific positions are
included in the Dean Foods Integrated Compensation
Program. The Company may make adjustments to an
individual’s target incentive based on market conditions
or business requirements.
	 
	 	 
	Eligibility:

	 	Eligibility is determined by level in the company or as
approved by the Morningstar Chief Operating Officer, or
Executive Vice President Human Resources, or their
designate. Participants must be actively employed by
the Company on the date incentive awards are paid in
order to receive an incentive award, except as otherwise
provided by State law. If a participant dies, becomes
disabled, or retires prior to the payment of awards, the
participant may receive a payout, at the time other
incentive awards are paid, based on actual time in the
position and actual results of the company. Eligibility
and individual target amounts may be prorated. A
participant’s year-end base salary will be used to
calculate the incentive award. All proration of
incentive awards will be calculated based on whole month
participation. If a participant becomes eligible to
participate in the plan, transfers or changes jobs from
the first day of the month through the 15th
of the month, the incentive award will be calculated
based on full month participation. If an employee
becomes eligible to participate in the plan, transfers
or becomes ineligible for the plan between the first day
of the month and the 15th of the month, the
incentive award will be calculated based on full month
participation. If the eligibility change occurs between
the 16th of the month and the end of the
month, the incentive award will be calculated beginning
with the full calendar month following the change.
Eligible participants who join the company on or after
October 1st will receive a prorated award, if
earned, with the individual portion of the award
calculated at target performance.
	 
	 	 
	Special Awards:

	 	Upon recommendation of the Dean Foods Company CEO and
the Morningstar Chief Operating Officer, special awards
may be made

2

 

MORNINGSTAR PLATFORM

2008 SHORT-TERM INCENTIVE COMPENSATION PLAN

	 	 	 
	 

	 	to individual employees in the Company in
recognition of extraordinary achievement which has
created or will create value for Dean Foods and its
shareholders.

3

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