Document:

EXHIBIT 10.10

                          [LOGO] CENEX HARVEST STATES
                                        WE GROW VALUE

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               CENEX HARVEST STATES COOPERATIVES SHARE OPTION PLAN
                                   HIGHLIGHTS

                                 November, 1998

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                                                               Printed: 10/30/98

Before electing to participate in the plan, eligible employees or members of the
Board of Directors should carefully consider the items set forth under the
heading, "What Are The Risks Of Participating?", on page 6 in addition to plan
information found elsewhere in this brochure.

The plan is available only to a limited number of key employees and members of
the Board of Directors of Cenex Harvest States Cooperatives. These key
individuals are selected by the Cenex Harvest States Cooperatives Share Option
Plan Committee and only pursuant to the plan and an Option Agreement between
Cenex Harvest States Cooperatives and the participating individual. The
agreement must contain representations by the participant as to his or her
suitability to participate in the plan.

The plan is subject to termination or modification by Cenex Harvest States
Cooperatives without notice. Option agreements, in some such cases, may be
required to be exercised immediately if the plan termination is in connection
with needed compliance with, or changes made to, any applicable federal or state
law or regulation. Cenex Harvest States Cooperatives reserves the right, in its
sole discretion, to reject any request to participate in the plan.

Options under the plan are subject to the terms and conditions contained in the
Option Agreement between Cenex Harvest States Cooperatives and the participant
and to the terms of the plan. A copy of the plan document is available on
request to the Human Resources Department or Legal Department.

All descriptions herein of the Option Agreement and the Plan are qualified by
reference to such documents. No person has been authorized to give any
information or to make any representations other than those contained in this
brochure in connection with the plan and participation by Cenex Harvest States
Cooperatives employees and Board Members, and if given or made, such information
or representations must not be relied upon as having been authorized by Cenex
Harvest States Cooperatives.

This brochure does not constitute an offer to sell or a solicitation of an offer
to buy securities by anyone in any jurisdiction in which such offer or
solicitation is not authorized, or in which the person making such offer or
solicitation is not qualified to do so.

The contents of this brochure are not to be construed as legal, investment or
tax advice. Participants should consult their advisors as to legal, investment,
tax and related matters concerning participation in the plan.

In making an investment decision, eligible employees and Board members must rely
on their own examination of Cenex Harvest States Cooperatives, the investment
prospectuses, and the terms of the plan and their option agreements, including
the merits and risks involved. Participation in the plan has not been
recommended by any federal or state securities commission or regulatory
authority. Furthermore, the foregoing authorities have not confirmed the
accuracy or determined the accuracy of this document. Any representation to the
contrary is a criminal offense.

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                        CENEX HARVEST STATES COOPERATIVES
                        SHARE OPTION PLAN

                        Here is an overview of the Share Option Plan offered by
                        Cenex Harvest States Cooperatives ("Cenex Harvest
                        States") as well as several questions and answers about
                        the plan. For more information, contact the Human
                        Resources Department or Legal Department.

                        After being nominated to participate in the Share Option
                        Plan, you can decide:

                        *     whether to participate in the plan

                        *     the amount of bonus, salary, or Board of
                              Directors' fees you want to exchange for option
                              grants under the plan, and

                        *     when to exercise your options and how much taxable
                              income to realize in any year.

                        The plan provides you with the opportunity to exceed the
                        annual contribution limits set by the Internal Revenue
                        Code for qualified savings plans. In this way, the plan
                        serves many of the same purposes as a deferred
                        compensation plan, but it's structured differently to
                        meet IRS regulations for stock option plans.

                        Designed to work in conjunction with our broader
                        compensation program, the Share Option Plan lets you
                        exchange your future compensation for options to
                        purchase mutual funds. If you decide to participate in
                        the plan, portions of annual variable pay, other
                        eligible compensation, or Board of Directors' fees will
                        be applied toward options to purchase selected mutual
                        funds.

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                        This brochure is a summary of the Cenex Harvest States
                        Cooperatives Share Option Plan. The rights and benefits
                        of participants and their beneficiaries are determined
                        exclusively by the provisions of the plan and the option
                        agreements issued thereunder.
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                                        1
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WHO IS ELIGIBLE TO      Participation in the Share Option Plan is based on
PARTICIPATE?            selection by Cenex Harvest States Cooperatives Share
                        Option Plan Committee (the "Committee"). Participants
                        are executives and members of the Board of Directors of
                        Cenex Harvest States who are determined to have the
                        capability of making a substantial contribution to the
                        success of Cenex Harvest States. Participation begins on
                        the next January 1, April 1, July 1, or October 1,
                        following selection by the Committee. Participation for
                        former Cenex key employees selected by the Committee
                        begins on or about October 1, 1998. Participation by
                        members of the Board of Directors begins on or about
                        November 1, 1998

                        For plan purposes, "participation" means the time when
                        future salary or annual variable pay exchanges begin.

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HOW DOES AN             To understand how an option plan works, you need to be
OPTION WORK?            aware of three key phases:

                        GRANTING OF OPTION. This is the time that you receive
                        the RIGHT to buy an investment at a specific price.

                        EXERCISE OF OPTION. This is the time at which you
                        actually BUY the investment. You determine (within plan
                        limits) when to exercise your option. Once you exercise
                        your option, you own the underlying investment.

                        SALE OF INVESTMENT. At this time, you will LIQUIDATE the
                        investment you previously purchased upon exercise. You
                        choose the timing of the sale.

                        Keep these phases in mind as you review the details of
                        how the Share Option Plan works.

                                       2
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HOW DOES THE CENEX      The Share Option Plan gives you the opportunity to
HARVEST STATES          exchange compensation for an option. You decide how much
COOPERATIVES SHARE      of your future base salary you wish to exchange for an
OPTION PLAN WORK?       option, up to 30%, or Board of Directors' fees. You may
                        also exchange all or part of your future annual variable
                        pay, if applicable, for an option. By electing not to
                        receive current compensation, you delay taxes on those
                        amounts.

                        You also may indicate a preference for the mutual
                        fund(s) underlying your option. The ultimate choice of
                        funds, however, remains with the Committee. (See page 5
                        and Attachment A for more on investment funds.)

      OPTION PRICING    Any option you elect to receive will be priced at a
                        discount to the current market price of the mutual fund
                        or funds. The dollar value of the discount will equal
                        the dollar value of the compensation you are exchanging.

                        FOR EXAMPLE, IF YOU CHOOSE TO EXCHANGE $75 OF
                        COMPENSATION FOR AN OPTION, YOU WOULD RECEIVE AN OPTION
                        WITH AN UNDERLYING MARKET PRICE OF $100. SO THE AMOUNT
                        YOU WOULD PAY TO PURCHASE THE INVESTMENT (THE EXERCISE
                        PRICE) WOULD BE $25.

    UNDERLYING STOCK    Under the Share Option Plan, the underlying stock will
                        be comprised of shares of selected mutual funds, which
                        are briefly described in Attachment A to this brochure,
                        and described in greater detail in the mutual fund
                        prospectuses. The underlying stock will be automatically
                        increased to account for reinvestment of dividends and
                        distributions with respect to stock. They are rounded to
                        the nearest one-thousandth of a share, and will be added
                        to the underlying stock subject to the option.

      EXERCISE PRICE    Your exercise price will be 25% of the market price of
                        the underlying stock on the date the option is granted.
                        The option's exercise price will remain unchanged.

       PARTICIPATION    When you are nominated to participate in the plan, you
           AGREEMENT    will receive a Participation Agreement. If you choose to
                        participate in the plan, you must indicate the amount of
                        future base compensation or Board of Directors' fees you
                        wish to exchange for an option under the plan. You may
                        also indicate the percentage of any future annual
                        variable pay you wish to exchange, if applicable.
                        Options received in exchange for annual variable pay are
                        granted on the first quarterly grant date after the end
                        of the fiscal year, once Cenex Harvest States has
                        determined the amount of your annual variable pay, if
                        applicable.

                                       3
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    OPTION AGREEMENT    With each option you are granted, you will receive a
                        written agreement called an Option Agreement. This
                        agreement, which must be signed by both you and a
                        representative of the Committee, will explain the terms
                        and conditions of the grant. In cases where the
                        Committee makes a special award of an option to you for
                        reasons other than your specified exchange of future
                        compensation, you may be required to agree to remain
                        employed for a designated period of time following the
                        grant date.

  GRANTING OF OPTION    Your options will be granted on or about October 15,
                        1998, of the first plan year and quarterly thereafter on
                        or about December 31, March 31, June 30, and September
                        30. The option will reflect actual salary or Board fee
                        exchanges through the end of the calendar quarter of the
                        calendar year for which the agreement was made. Your
                        annual variable pay, if applicable, may also be
                        exchanged for an option. (If applicable, a Participation
                        Agreement regarding the annual variable pay must be
                        filed prior to Cenex Harvest States Cooperatives' fiscal
                        year beginning September 1, and the option which
                        includes these exchanges will be granted once the annual
                        variable pay is determined after the end of that fiscal
                        year.)

HOLDING YOUR OPTIONS    Before exercising your option, you must hold it at least
                        six months after receipt. No advance election is
                        required prior to exercising your option.

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WHEN DO I DECIDE        Before the start of each calendar year (or before the
WHETHER TO              start of each fiscal year, in the case of annual
PARTICIPATE?            variable pay), you'll have the opportunity to indicate
                        the amount of salary, Board fees and/or annual variable
                        pay you wish to exchange for an option to purchase
                        shares of selected mutual funds.

                        Before you agree to participate in this plan, carefully
                        read all the information provided. You may wish to
                        consult a tax advisor or financial planner as well.

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                                        4
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WHAT MUTUAL FUNDS       The funds offered under this plan are many of the same
WILL BE OFFERED?        funds offered under the Cenex Harvest States 401(k)
                        plan, which may change from time to time. A description
                        of the current funds available in this plan can be found
                        in Attachment A.

                        Neither Cenex Harvest States nor the Committee can
                        guarantee a specific rate of return, nor can they
                        protect you from the risk of loss.

                        Fund prospectuses are available upon request, and are
                        incorporated by reference into this brochure.

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CAN I CHANGE THE        In general, no. Your option must continue to cover the
INVESTMENTS ON          mutual funds selected for you by the Committee unless
WHICH MY OPTIONS        the Committee permits the substitution of securities.
ARE BASED?              Once you exercise your option, however, you may decide
                        to sell the securities and purchase a different
                        investment.

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HOW DO I EXERCISE       Here's an outline of the steps to follow at the time of
MY OPTIONS?             exercise:

                        *     determine that you are ready to incur a taxable
                              event (compensation income)

                        *     verify the exercise price

                        *     notify Cenex Harvest States that you want to
                              exercise an option in whole or in part, subject to
                              minimum exercise requirements

                        *     pay the exercise price and any tax withholding
                              owed.

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                                        5
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WHAT ARE THE TAX        Here's an overview of the tax consequences of the Share
CONSEQUENCES AT         Option Plan by looking at four separate events.
EACH PHASE OF
PARTICIPATION?
                        -------------- -----------------------------------------
                            EVENT                   TAX CONSEQUENCE
                        -------------- -----------------------------------------
                        ELECTION TO    At the time you choose to participate,
                        PARTICIPATE    taxes are postponed on the compensation
                                       exchanged. This is true only if the
                                       agreement is filed prior to the service
                                       period in which the compensation is
                                       earned. No tax is due on this date.
                        -------------- -----------------------------------------
                        OPTION         Because you are receiving an option under
                        GRANT          the plan, you do not have income at the
                        DATE           option grant date. No tax is due on the
                                       amount of your exchanged compensation.
                        -------------- -----------------------------------------
                        OPTION         You realize taxable income in the year
                        EXERCISE       you exercise the option. Your taxable
                        DATE           compensation (TAXED AS ORDINARY income)
                                       equals the market price of the security
                                       less the exercise price you pay.
                        -------------- -----------------------------------------
                        SALE OF        If you sell the security after the option
                        PROPERTY       exercise date, you will have capital gain
                                       or loss income. The tax rate for your
                                       gain will depend upon your holding
                                       period. The gain or loss is calculated by
                                       taking the value of the property at sale
                                       less the value of the property on the
                                       option exercise date (SOMETIMES CALLED
                                       THE "SPREAD").
                        -------------- -----------------------------------------

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WHAT ARE THE RISKS      There are a number of risks to consider before deciding
OF PARTICIPATING?       to participate in the Share Option Plan. You should
                        consider and review all the available information about
                        the mutual funds offered under this plan. The value of
                        your option upon exercise will be determined by the
                        value of the underlying stock. If the value of the
                        underlying stock increases, you will share in that gain.
                        However, Cenex Harvest States does not guarantee a
                        specific rate of return, nor can Cenex Harvest States
                        protect you from the risk of loss.

                        In addition, once your election has been made, there is
                        a market risk that the underlying stock will lose value.

                        There is always a risk of receiving poor financial
                        planning advice or no financial planning advice at all.
                        Cenex Harvest States cannot provide you with such
                        advice. Consider your option in the context of your
                        overall investment portfolio to ensure investment
                        diversity and balance. Contact your financial planner
                        for advice related to your situation before
                        participating in the plan.

                                       6
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                        On or about March 31, July 31, September 30, and
                        December 31, of each calendar year (and on the next
                        option grant date following the determination of your
                        annual variable pay for the preceding fiscal year, if
                        applicable), the Company will deposit with the trustee
                        of a grantor trust established by the Company the
                        salary, variable annual pay, or Board of Directors' fees
                        amounts which are being exchanged for options in
                        accordance with the terms and conditions of the plan.
                        The funds deposited into such trust and the underlying
                        stock, however, remain subject to the claims of the
                        general creditors of the Company as if such funds were
                        general assets of the Company. If the Company becomes
                        insolvent, there can be no assurance of the Company's
                        ability to meet its obligations under the Option
                        Agreement. In such a scenario, your status would be that
                        of an unsecured creditor.

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WHAT HAPPENS IF I       As a general rule, your option will expire on the
SEPARATE FROM           earliest of: 90 days after separation from service with
SERVICE WITH CENEX      Cenex Harvest States for cause, 120 months after
HARVEST STATES          separation from service as an employee or as a member of
COOPERATIVES? WHAT      the Board of Directors for any other reason, or 20 years
HAPPENS IF I DIE?       after being granted.

                        In addition, any option granted will be adjusted as
                        follows:

                        *     If your separation from service occurs before your
                              option has been granted, you will not receive an
                              option but instead will receive compensation
                              equivalent to the amount of the compensation
                              exchanged.

                        *     If your separation from service occurs after your
                              option has been granted, the number of shares
                              applicable to an option granted to you in the form
                              of an outright award or in exchange for a
                              surrender or termination of a deferred
                              compensation account with the Employer, if
                              applicable, will be adjusted in the manner
                              prescribed in your option agreement. You will only
                              be permitted to exercise a prorata number of
                              shares indicated in the option agreement. The
                              remainder of the shares will be forfeited.

                        When first enrolling in the plan, you should complete a
                        Beneficiary Designation Form. Upon death, any options
                        you may own become the property of your beneficiary.
                        Anyone, including a trust for the benefit of a spouse
                        and/or lineal descendant, may be named as a beneficiary.
                        This beneficiary designation may be changed at any time
                        and requires no spousal consent or other authorization.
                        If no beneficiary designation is made, your beneficiary
                        automatically will be your spouse if you are lawfully
                        married on the date of death, or your estate if you are
                        not married on the date of death.

                                       7
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OTHER PLAN              Plan assets comprised of Cenex Harvest States
INFORMATION             contributions and securities underlying each option
                        agreement will be held in trust by a trustee to be
                        designated by Cenex Harvest States. The trustee will
                        hold the plan assets and execute the exercise of
                        participants' options. The trustee will receive
                        information regarding the mutual funds and will provide
                        periodic reports on the value of the funds.

                        The Committee will maintain certain records, including
                        copies of your option agreements. It will select an
                        outside vendor to provide recordkeeping services.

                        Cenex Harvest States will pay the cost of outside trust
                        and recordkeeping fees. Investment management fees will
                        be paid from the trust assets.

                        Cenex Harvest States is not required to complete an
                        annual form 5500 filing for this plan under the Employee
                        Retirement Income Security Act of 1974 (ERISA).

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INCORPORATION OF        The following documents filed by Cenex Harvest States
CERTAIN INFORMATION     pursuant to the Securities Exchange Act of 1934 are
BY REFERENCE            incorporated in and made a part of this Prospectus by
                        reference:

                        (a)   Annual Report on Form 10-K for the fiscal year
                              ended May 31, 1997 filed by Cenex Harvest States
                              on August 26, 1997;

                        (b)   Quarterly Report on Form 10-Q for the quarter
                              ended (i) August 31, 1997 filed by Cenex Harvest
                              States on October 10, 1997; (ii) November 30, 1997
                              filed by Cenex Harvest States on January 12, 1998;
                              and (iii) February 28, 1998 filed by Cenex Harvest
                              States on April 7, 1998.

                        (c)   Form S-8 dated November 17, 1997 filed by Cenex
                              Harvest States on December 12, 1997.

                        (d)   Form 8-K dated June 1, 1998 and filed by Cenex
                              Harvest States on June 10, 1998 and Form 8-K/A
                              dated June 1, 1998 and filed by Cenex Harvest
                              States on August 13, 1998.

                        (e)   Annual Report on Form 10-K for the fiscal year
                              ended May 31, 1998 filed by Cenex Harvest States
                              on August 13, 1998.

                        (f)   Form 10-Q Transition Report for transition period
                              of June 1, 1998 to August 31, 1998 filed by Cenex
                              Harvest States on October 14, 1998.

                                       8
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                        Any statement contained in a document incorporated by
                        reference herein shall be deemed to be modified or
                        superseded for purposes of this Prospectus to the extent
                        that a statement contained herein modifies or supersedes
                        such statement. Any such statement so modified or
                        superseded shall not be deemed, except as so modified or
                        superseded, to constitute a part of this Prospectus.

                        Cenex Harvest States will provide without charge to each
                        person, including any beneficial owner, to whom a copy
                        of this Prospectus is delivered, upon the written or
                        oral request of any such person, a copy of any and all
                        of the documents referred to above or elsewhere herein
                        which have been incorporated by reference in this
                        Prospectus, other than exhibits to such documents
                        (unless such exhibits are specifically incorporated by
                        reference into the information that this Prospectus
                        incorporates by reference). Written requests for such
                        copies should be directed to Cenex Harvest States
                        Cooperatives, 5500 Cenex Drive, Inver Grove Heights, MN
                        55077, Attention: Legal Department, telephone number
                        (612) 641-3726.

                                       9EXHIBIT 10.24

                              EMPLOYMENT AGREEMENT

         THIS AGREEMENT is made effective as of September 1, 2000 by and between
John D. Johnson (hereafter "Johnson") and Cenex Harvest States Cooperatives, a
Minnesota cooperative corporation (together with all affiliates, the "Company").

1.       Employment

         The Company hereby agrees to and does hereby employ Johnson as its
         Chief Executive Officer, and Johnson hereby agrees to accept employment
         with the Company as Chief Executive Officer, for the period set forth
         in Paragraph 2 below (the period of employment) upon the other terms
         and conditions set forth in this Agreement.

2.       Period of Employment; Termination of Agreement

         The period of employment shall commence on the date of this Agreement
         and, subject to the provisions of Paragraphs 5 and 6 below, shall
         continue for a rolling three (3) year period, provided that Johnson's
         employment may be earlier terminated by either party subject to the
         rights and obligations of the parties set forth herein.

3.       Performance

         Throughout the period of employment, Johnson agrees to devote his full
         time and attention during normal business hours to the business of the
         Company, except for earned vacations and except for illness or
         incapacity.

4.       Compensation

         (a)      For all services to be rendered by Johnson in any capacity
                  during the period of employment, Johnson shall be paid as
                  annual compensation a base salary of at least $787,500. The
                  Board will annually review Johnson's annual compensation and
                  determine what is appropriate for a cost of living increase,
                  merit increase, and/or increase in responsibilities or duties.

         (b)      During the term of his employment hereunder, Johnson shall be
                  compensated pursuant to the plan in effect on September 1,
                  2000 with annual variable pay pursuant to the plan in effect
                  during the term of this agreement. In addition, Johnson shall
                  be eligible for long term variable pay including the years
                  2001, 2002 and 2003. Johnson shall further be entitled to any
                  additional employee benefits separately made available to him
                  from time to time by the Board in its discretion.

         (c)      The Company shall bear such ordinary and necessary business
                  expenses incurred by Johnson in performing his duties
                  hereunder as the Company determines from time to time,
                  provided that Johnson accounts promptly for such expenses to
                  the Company in the manner prescribed from time to time by the
                  Company.

                                       1
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5.       Termination with Severance Allowance

         (a)      Termination by the Company Not for Cause. In the event of
                  termination of the employment of Johnson by the Company during
                  the period of employment for any reason other than for cause,
                  as defined in paragraph 6(a), death or disability, the Company
                  shall:

                  (i) pay Johnson a severance allowance in the amount of 2.99
                  times the greater of

                                    (A) his then-current base salary plus
                           short-term and long-term target bonus ("Target
                           Bonus"), or

                                    (B) the amount payable in base salary plus
                           Target Bonus for calendar year 2000;

                  (ii) provide a five-year enhancement to his retirement plan,
                  except that no such enhancement shall be provided if the
                  termination occurs after Johnson has attained the age of 60;

                  (iii) include the amount of the severance paid as salary for
                  purposes of pension cash balance calculation;

                  (iv) bear the entire cost of Johnson's COBRA family health
                  insurance coverage for one (1) year;

                  (v) continue his family health insurance thereafter up to age
                  65 (or any revised age for Medicare eligibility), upon
                  Johnson's payment of the retiree premium rate, except for any
                  period during which Johnson is eligible for coverage, without
                  any exclusions for preexisting conditions, through another
                  employee group plan; and

                  (vi) continue his existing executive perquisites for a period
                  of three (3) years.

         Said severance allowance shall be in lieu of all other severance
         payable to Johnson under Company severance policies.

(b)      Termination by Johnson in the event of Consolidation. In the event of a
         full consolidation of the Company's business with the business of any
         other entity, if Johnson is not offered the position of Chief Executive
         Officer of the combined entity, this may be deemed at Johnson's option
         to be an event of termination without cause. In that event, the Company
         shall:

                  (i) pay Johnson a severance allowance in the amount of 2.99
                  times the greater of

                                    (A) his then-current base salary plus Target
                           Bonus, or

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                                    (B) the amount payable in base salary plus
                           Target Bonus for calendar year 2000;

                  (ii) provide a five-year enhancement to his retirement plan,
                  except that no such enhancement shall be provided if the
                  termination occurs after Johnson has attained the age of 60;

                  (iii) include the amount of the severance paid as salary for
                  purposes of pension cash balance calculation;

                  (iv) bear the entire cost of Johnson's COBRA family health
                  insurance coverage for one (1) year;

                  (v) continue his family health insurance thereafter up to age
                  65 (or any revised age for Medicare eligibility), upon
                  Johnson's payment of the retiree premium rate, except for any
                  period during which Johnson is eligible for coverage, without
                  any exclusions for preexisting conditions, through another
                  employee group plan; and

                  (vi) continue his existing executive perquisites for a period
                  of three (3) years.

         Said severance allowance shall be in lieu of all other severance
         payable to Johnson under Company severance policies.

         (c)      Additional Payments. In the event that Johnson becomes
                  entitled to payments under paragraph 5(a) or 5(b) of this
                  Agreement, the Company shall cause its independent auditors
                  promptly to review, at the Company's sole expense, the
                  applicability of Section 4999 of the Code to such payments. If
                  such auditors shall determine that any payment or distribution
                  of any type by the Company to Johnson or for his benefit,
                  whether paid or payable or distributed or distributable
                  pursuant to the terms of this Agreement or otherwise (the
                  "Total Payments"), would be subject to the excise tax imposed
                  by Section 4999 of the Code, or any interest or penalties with
                  respect to such excise tax (such excise tax, together with any
                  such interest and penalties, are collectively referred to as
                  the "Excise Tax"), then Johnson shall be entitled to receive
                  an additional cash payment (a "Gross-Up Payment") within 30
                  days of such determination equal to an amount such that after
                  payment by Johnson of all taxes (including any interest or
                  penalties imposed with respect to such taxes), including any
                  Excise Tax, imposed upon the Gross-Up Payment, Johnson would
                  retain an amount of the Gross-Up Payment equal to the Excise
                  Tax imposed upon the Total Payments. For purposes of the
                  foregoing determination, Johnson's tax rate shall be deemed to
                  be the highest statutory marginal state and Federal tax rate
                  (on a combined basis) (including Johnson's share of F.I.C.A.
                  and Medicare taxes) then in effect. If no determination by the
                  Company's auditors is made prior to the time a tax return
                  reflecting the Total Payments is required to be filed by
                  Johnson, he will be entitled to receive a Gross-Up Payment
                  calculated on the basis of the Total Payments reported by
                  Johnson in such tax return, within 30 days of the filing of
                  such tax return. In all events, if any tax authority
                  determines that a greater Excise Tax should be imposed upon
                  the Total Payments than is determined by the Company's
                  independent auditors or

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<PAGE>

                  reflected in Johnson's tax return pursuant to this Section 6,
                  Johnson shall be entitled to receive the full Gross-Up Payment
                  calculated on the basis of the amount of Excise Tax determined
                  to be payable by such tax authority from the Company within 30
                  days of such determination.

         (d)      Request and Release. In order to obtain the severance
                  allowance provided for in this Agreement, Johnson must submit
                  a request for severance and must sign a complete release of
                  all claims. The Company shall have no obligation to pay any
                  severance allowance unless and until Johnson shall have
                  submitted the request for severance and signed a full and
                  complete release of all claims, to be drafted by Legal Counsel
                  for the Company.

6.       Termination without Severance Allowance

         (a)      Termination by the Company for Cause. The Company may
                  terminate Johnson's employment for cause without incurring
                  further obligation. For the purpose of this Agreement,
                  termination of Johnson's employment shall be deemed to have
                  been for cause only:

                  (i)      if termination of Johnson's employment shall have
                           been the result of an act or acts of fraud, theft or
                           embezzlement on the part of Johnson which, if
                           convicted, would constitute a felony and which
                           results or which is intended to result directly or
                           indirectly in gain or personal enrichment of Johnson
                           at the expense of the Company; or

                  (ii)     if termination of Johnson's employment results from
                           Johnson's willful and material misconduct, including
                           willful and material failure to perform his duties,
                           and Johnson has been given written notice by the
                           Board of Directors with respect to such and Johnson
                           does not cure within a reasonable time; or

                  (iii)    if there has been a breach by Johnson during the
                           period of employment of the provisions of Paragraph 3
                           above, relating to the time to be devoted to the
                           affairs of the Company, and with respect to any
                           alleged breach of Paragraph 3 hereof, Johnson shall
                           have substantially failed to remedy such alleged
                           breach within thirty days from Johnson's receipt of
                           notice from the Board of Directors.

         (b)      Nonrenewal of Agreement. The Company may elect not to renew
                  this Agreement, and thereby to terminate Johnson's employment
                  hereunder without any severance obligations, upon at least
                  three (3) years' prior written notice to Johnson.

         (c)      Termination by Johnson. Johnson shall have the right to
                  terminate his employment in his sole discretion, with or
                  without cause, by providing thirty (30) days notice of his
                  intent to resign. Johnson shall in that event receive no
                  further compensation or severance allowance.

                                       4
<PAGE>

         (d)      Death. In the event of Johnson's death during the period of
                  employment, the legal representative of Johnson shall be
                  entitled to the base or fixed salary provided for in Paragraph
                  4(a) above for the month in which death shall have occurred,
                  at the rate being paid at the time of death, and the period of
                  employment shall be deemed to have ended as of the close of
                  business on the last day of the month in which death shall
                  have occurred but without prejudice to any benefits, such as
                  life insurance, otherwise due in respect of Johnson's death.

         (e)      Disability

                  (i)      In the event of Johnson's disability during the
                           period of employment, Johnson shall be entitled to an
                           amount equal to the base or fixed salary provided for
                           in Paragraph 4(a) above, at the rate being paid at
                           the time of the commencement of disability, for the
                           period of such disability but not in excess of twelve
                           (12) months from the beginning of the period that
                           establishes such disability, as described in
                           Paragraph 6(e)(iii) below.

                  (ii)     The amount of any payments due under Paragraph
                           6(e)(i) shall be reduced by any payments to which
                           Johnson may be entitled for the same period because
                           of disability under any disability or pension plan of
                           the Company or of any division, subsidiary, or
                           affiliate thereof, or as the result of workers'
                           compensation or nonoccupational disability payments
                           received from any government entity.

                  (iii)    The term "Disability" as used in this Agreement,
                           shall mean an illness or accident occurring during
                           the period of employment which prevents Johnson from
                           performing the essential functions of his job under
                           this Agreement, with reasonable accommodations (as
                           defined by federal and Minnesota disability laws),
                           for a period of six consecutive months. The period of
                           employment shall be deemed to have ended as of the
                           close of business on the last day of such six-month
                           period but without prejudice to any payments due
                           Johnson from any disability policy or disability
                           insurance.

7.       Noncompetition

         Johnson agrees that during the term of his employment and thereafter
         for a period of two (2) years, he will not directly or indirectly
         engage in or carry on a business that is in direct competition with any
         significant business unit of the Company as conclusively determined by
         the Board of Directors. Further, Johnson agrees that during this same
         period of time he will not act as an agent, representative, consultant,
         officer, director, independent contractor or employee of any entity or
         enterprise that is in direct competition with any significant business
         unit of the Company as conclusively determined by the Board of
         Directors.

                                       5
<PAGE>

8.       Successor in Interest

         This Agreement and the rights and obligations hereunder shall be
         binding upon and inure to the benefit of the parties hereto and their
         respective legal representatives, and shall also bind and inure to the
         benefit of any successor of the Company by merger or consolidation or
         any purchaser or assignee of all or substantially all of its assets,
         but, except to any such successor, purchaser, or assignee of the
         Company, neither this Agreement nor any rights or benefits hereunder
         may be assigned by either party hereto.

9.       Construction

         Whenever possible, each provision of this Agreement shall be
         interpreted in such a manner as to be effective and valid under
         applicable law, but if any provision of this Agreement shall be
         prohibited by or invalid under applicable law, such provision shall be
         ineffective only to the extent of such prohibition or invalidity
         without invalidating the remainder of such provision or the remaining
         provisions of this Agreement.

10.      Governing Laws

         This Agreement shall be governed by and construed and enforced in
         accordance with the laws of the State of Minnesota.

11.      Notices

         Any notice required or permitted to be given under this Agreement shall
         be sufficient if in writing, sent by Certified Mail, Return Receipt
         Requested:

         If to Johnson:        John D. Johnson
                               10 Echo Lake Blvd.
                               Mahtomedi, MN 55115

         If to the Company:    Chairman of the Board
                               Cenex Harvest States Cooperatives
                               5500 CENEX Drive
                               Inver Grove Heights, MN 55077

         With a copy to:       General Counsel
                               Cenex Harvest States Cooperatives
                               5500 CENEX Drive
                               Inver Grove Heights, MN 55077

                                       6
<PAGE>

12.      Entire Agreement

         This agreement shall constitute the entire agreement between the
         parties, superseding the parties' Agreement of January __, 2000 and any
         prior agreements. This Agreement may not be modified or amended, and no
         waiver shall be effective, unless by written document signed by the
         Chairman of the Board and Johnson.

         IN WITNESS WHEREOF, the parties have executed this Agreement effective
as of the date set forth above.

                                        CENEX HARVEST STATES COOPERATIVES

/s/ John D. Johnson                     By:   /s/ Steven Burnet
----------------------------------            ----------------------------------
        John D. Johnson                 Its:  Chairman
                                              ----------------------------------

                                       7

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