Document:

Form of Restricted Agreement with all other employees

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

							
	 Grantee:

	 	 No. of Shares:

	 	 Grant Date:

	 	 Vesting Date:

	 	 	 	 	 	 	 

  
 VESTING: [All of the Shares
will vest (become deliverable) on [date]] or [The Shares will vest (become deliverable) between the Grant Date and [last vesting date] with [% or number of Shares] vesting on [dates]] or, if earlier, upon a Change of Control of the Company (the
“Vesting Date”); subject, however, to the forfeiture provisions set forth below. Notwithstanding the foregoing, you may elect, by filing a written election with the Company prior to the date of a Change of Control, to waive all or a
portion of your rights to vest in this award by reason of the Change of Control. If your employment terminates because of your death, Disability or Retirement, all the Shares issuable under this award will vest on your termination of employment. On
[the] [each] Vesting Date (or promptly thereafter), the Company will deliver to you a certificate representing the Shares which have vested on such date. 
  
 NO RIGHTS AS SHAREHOLDER PRIOR TO VESTING: Prior to [this] [any] Vesting Date, you will have no rights as a shareholder of the Company with respect to the Shares
to be issued on or after [the] [that] Vesting Date. 
  
 FORFEITURE OF
SHARES: In the event you cease to be employed by the Company, or by any of the Company’s Subsidiaries for any reason (other than as a result of death, Disability or Retirement) prior to the Vesting Date, then, [subject to the terms of the
LTIP,] all unvested Shares subject to this award will be forfeited as of the date of your termination of employment and any rights with respect to such forfeited Shares will immediately cease. 
  
 CONFIDENTIALITY, NON-COMPETITION AND NON-SOLICITATION: In consideration of your
receipt of this award, you agree as follows: 
  
 (a) You will hold in a fiduciary
capacity for the benefit of the Company all information, knowledge or data relating to the Company or any Subsidiaries and their respective businesses which the Company or any Subsidiaries consider to be proprietary, trade secret or confidential
that you obtain or have previously obtained during your employment by the Company or any Subsidiaries and that is not public knowledge (other than as a result of your violation of this provision) (“Confidential Information”). You will not
directly or indirectly use any Confidential Information for any purpose not associated with the activities of the Company or any Subsidiaries, or communicate, divulge or disseminate Confidential Information to any person or entity not authorized by
the Company or any Subsidiaries to receive it at any time during or after your employment with the Company, except with the prior written consent of the Company or as otherwise required by law or legal process. 
  
 (b) For a period of two years after the termination of your employment with the Company or
any Subsidiaries, for any reason, voluntary or involuntary, you will not, without the written consent of the Company, directly or indirectly, engage or hold an interest in any company listed in Exhibit A, or any subsidiary or affiliate of such
company (the “Competing Businesses”), or directly or indirectly have any interest in, own, manage, operate, control, be connected with as a stockholder (other than as a holder of less than five percent (5%) of any class of publicly traded
securities of any such Competing Business). 
  
 (c) For a period of one year after
the termination of your employment with the Company or any Subsidiaries, for any reason, voluntary or involuntary, you will not, without the written consent of the Company, directly or indirectly solicit, entice, persuade or induce any person to
leave the employment of the Company or any Subsidiaries (other than persons employed in a clerical, non-professional or non-management position). 

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

 
 TAXES: You must pay all applicable U.S. federal, state, local and foreign taxes
resulting from the grant of this award and the issuance of the Shares upon vesting of this award. The Company has the right to withhold all applicable taxes due upon the vesting of this award (by payroll deduction or otherwise) from the proceeds of
this award or from future earnings (including salary, bonus or any other payments.) In advance of [the] [each] Vesting Date you may elect to pay the withholding amounts due by surrendering to the Company a number of the Shares otherwise deliverable
on the Vesting Date that have a fair market value on the Vesting Date equal to the amount of the payroll withholding taxes due. 
  
 CONDITIONS: This award is governed by and subject to the terms and conditions of the Plan [and the LTIP], which contain important provisions of this award and form
a part of this Agreement. [A copy] [Copies] of the Plan [and the LTIP] [is] [are] being provided to you, along with a summary of the Plan. If there is any conflict between any provision of this Agreement and the Plan, this Agreement will control,
unless the provision is not permitted by the Plan, in which case the provision of the Plan will apply. Your rights and obligations under this Agreement are also governed by and are subject to applicable U.S. laws and foreign laws. 
  
 AGREEMENT: To acknowledge your agreement to the terms and conditions of this award,
please sign and return one copy of this Agreement to the Corporate Secretary’s Office, Attention: Barbara Howland. 
  

							
	CHIQUITA BRANDS INTERNATIONAL, INC.	  	 	  	 Complete Grantee Information below:

				
	 By:
	 	  

	  	 	  	

	 	 	 Barry Morris, Vice President
	  	 	  	 Home Address (including country)

	 	 	 Human Resources
	  	 	  	 
				
	 By:
	 	  

	  	 	  	

	 	 	 	  	 	  	  

	 Date Agreed To:

	  	 	  	  

	 	  	 	  	 U.S. Social Security Number (if applicable)Deed of Settlement

 Exhibit 10-hh 
  
 DEED OF SETTLEMENT 
  
 The undersigned: 
  

	1.	Chiquita Banana Company B.V., established at Breda, represented by Mr. Bob Kistinger, in his capacity as President COO of CBI, hereinafter “the Company”;

  
 and 
  

	2.	Peter Anthony George Horekens, residing at Nachtvlinderslaan 19, Brussel 1000, Belgium, hereinafter “Mr. Horekens”; 

  
 BACKGROUND 
  
 As from July 14, 1997, Mr. Horekens entered into the service of the Company in the framework
of an employment agreement (hereafter “employment agreement”). 
  
 In mid-November 2003, the Company informed Mr Horekens of its desire to discontinue the employment agreement, with effect as from 31 December 2003. 
  
 Mr Horekens agreed to cooperate with the termination process and to resign from all his positions within the Company, subject to the
financial consideration and terms and conditions provided for by this deed of settlement (“Settlement”) and the other agreements referred to in this Settlement. 
  
 Indeed, Mr. Horekens and various group companies entered into various agreements in the context of Mr Horekens cessation of all professional
activities for such group companies (hereafter ‘the Departure Agreements’). 
  
 DECLARE TO HAVE AGREED AS FOLLOWS: 
  
 Mr.
Horekens shall resign from all positions within the Company and affiliated companies in The Netherlands, including but not limited to the position Managing Director under the articles of association of the Company, as per 31 December 2003 and
agrees to co-operate in the formal proceedings to be taken to effect his resignations. 
  

	1.	The employment agreement shall terminate per 31 December 2003 (“the Termination Date”). 

  

	2.	Until the Termination Date, the Company will pay to Mr. Horekens his present benefits. After the Termination Date, no benefits are due. The Company shall provide Mr. Horekens with a
final settlement per the Termination Date subject to Dutch tax law. 

  

	3.	Within 15 days after signature of this agreement, the Company shall pay Mr. Horekens a severance equal to EUR 290,757gross. The aforementioned amount is subject to Dutch

 tax law. Payment will be made in a manner to be decided by Mr. Horekens, provided that any such direction
shall be allowed from a tax law point of view and provided such directions shall not result in risks or extra costs for the Company. If Mr. Horekens wishes to apply (part of) the severance for an annuity or a standing right to periodic payments, the
Company is entitled to request sufficient evidence for such annuity or standing right construction before any such payment will be made. 
  

	4.	All belongings, including documents, keys, entrance cards, mobile phone, laptop (if any) and business credit cards of the Company and/or its affiliated companies in the Netherlands
Mr. Horekens presently possesses, will be returned within 15 days after signature of this agreement. 

  

	5.	Until and after the termination of the employment agreement, Mr. Horekens shall observe full confidentiality with respect to all matters relating to the Company and its affiliated
companies and shall not in any manner disclose any information .Save as required by law, neither the Company and its affiliated companies nor Mr.Horekens shall without the consent in writing of the other party, disclose the terms of this agreement
to any person other than to involved professional advisors, who require the information for necessary professional purposes. Parties shall in the future conduct themselves with respect to the other party within the confines of normal good behaviour.
They shall not refer to the other party in the future vis-à-vis third parties in a negative way. Neither party shall co-operate in any publication and/or publicity about the other party without a written consent of the other party.

  

	6.	The Company shall pay the bonus for performance in 2003 in line with the bonus policy of the Company. One-third of such bonus, if any, will be paid in 2004 at the same time as for
the other eligible executives of the Company. The applicable social security contributions and taxes will be withheld. 

  

	7.	In the event that the Dutch tax administration or any other competent authority in this or any other jurisdiction should determine that additional income tax are or were due and
payable on any part of the Payments made to Mr. Horekens by the Company in the context of the separation, then Mr. Horekens shall be solely liable for such claim and Mr Horekens will indemnify the Company or any Group Company against any claim that
may be made upon it by any competent authority in this or any other jurisdiction for such tax . 

  

	8.	This agreement is ruled by Dutch law and, without prejudice to the Departure agreements, fully and finally settles any and all claims that parties have or may have against each
other, or against the affiliated companies of the Company, arising out of or in connection with the employment or services of Mr. Horekens or the termination thereof. This release does not apply however, to the discharge of Mr. Horekens as member of
any Board of Management of the Company or any affiliated company, which discharge shall follow from the decisions of the relevant shareholders meeting with respect to the management of the Board of Management as per applicable rules of company law.
It is, however, stated that there are no facts or circumstances known at present which bar such discharge. 

  

 2 

 Thus agreed on 19.01 2004 
  

			
	 /s/ Bob Kistinger

	  	 /s/ P.A. G. Horekens

	 Chiquita Banana Company B.V.
	  	 P.A.G. Horekens

	 Mr. Bob Kistinger
	  	 
	 President COO of CBI
	  	 

  

 3 

 Settlement Agreement 
  

	

			
	BETWEEN:	    	Chiquita International Services Group NV, having its registered office at Rijnkaai 37, 2000 Antwerpen, Belgium;
		
	 	    	for the purpose of this agreement represented by Mr Francis Kint, in his capacity as Vice President Sales North & Eastern Europe CISG;
		
	 	    	referred to as “the Company”;
		
	AND:	    	Peter Anthony George Horekens, residing at Nachtvlinderslaan 19, 1000 Brussels, Belgium;
		
	 	    	 referred to as “Mr Horekens”;

  
 BACKGROUND:

  
 As from July 14, 1997, Mr Horekens was appointed as Managing Director of
the Company (hereafter “professional relationships”). 
  
 In
mid-November 2003, the Company informed Mr Horekens of its decision to terminate the professional relationships, with effect as from 31 December 2003. 
  
 Mr Horekens agreed to co-operate with the termination process decided by the Company, subject to the financial consideration and terms and conditions provided for by this
agreement (“Agreement”) and the other agreements referred to in this Agreement. 
  
 Indeed, Mr. Horekens and various group companies entered into various agreements in the context of Mr. Horekens cessation of all professional activities for such group companies (hereafter, the ‘Departure
Agreements’.) 
  
 IT IS AGREED: 
  
 Article 1 
  
 1. 
  
 The termination of the professional relationships as decided by the Company will be effective as from 31 December 2003. 
  
 2. 
  
 Mr. Horekens accepts the Company’s decision to terminate the professional relationships and will co-operate to its
implementation by formally resigning from his position as Managing Director of the Company, with effect as from 31 December 2003. 
  

 1 

 ARTICLE 2 
  
 Subject to the covenants and obligations undertaken by Mr Horekens in this Agreement, the Company shall pay the following amounts to Mr Horekens, who accepts: 

 

	(a)	Severance pay equal to a gross amount of EUR 290,757 which shall be paid at the latest by 29 February 2004; 

  

	(b)	Bonus for performance in 2003: in line with the bonus policy of the Company. One third of such bonus, if any, will be paid in 2004 by the Company at the same time as for the other
eligible executives of the Company. 

  
 These amounts shall be paid
to Mr. Horekens, subject to applicable withholding tax. 
  
 ARTICLE 3

  
 Mr Horekens resigns from all positions within the Company and affiliated
companies, as per 31 December 2003. He agrees to co-operate in the formal proceedings to be taken to effect his resignations. 
  
 Annex I contains an overview of the board memberships or other positions Mr. Horekens presently holds and from which he accepts to resign. 
  
 ARTICLE 4 
  
 1. 
  
 The company will continue to pay into the group insurance with policy number 7612007 (46) Z7N (group) contracts: 94.362.280 and 281 which it has taken out at the benefit
of Mr Horekens with Fortis AG, the company’s contributions, i.e. an amount of approximately 2,473.73 EUR per month during 20 months. 
  
 2. 
  
 On 31 December 2003 the Company will cease paying the contributions to Fortis AG to cover Mr Horekens’ hospital and disability insurance currently available under policy number 89.311.619 and 88.196.145
(“the Policy”). However, with the agreement of Fortis AG, Mr Horekens may remain a beneficiary under the Policy for 20 months under similar conditions, provided that he personally pays the contributions due under the Policy. 
  
 ARTICLE 5 
  
 1. 
  
 The Company agrees to reimburse to Mr Horekens all reasonable attorney and legal fees incurred by Mr Horekens in connection with claims asserted by third parties prior to
31 December 2005 with regard to the performance of the corporate mandates held by Mr. Horekens in the Company or any affiliated companies, as listed in Annex I, if the following requirements are met: 
  

 2 

	(i)	Mr Horekens will fully communicate the claims as asserted within 15 days of his gaining knowledge thereof; 

  

	(ii)	Mr Horekens will communicate to the Company the statements of fees as submitted by his legal counsel; 

  

	(iii)	The claims are not related to Mr Horekens gross negligence, wilful misconduct or criminally sanctioned liabilities. 

  
 2. 
  
 In case of dispute between Mr Horekens and the Company regarding what should be considered as the amount corresponding to “all
reasonable attorney and legal fees” under section 1 of this Article 5, the most diligent party or the parties shall seek the advice of the bar authorities of the relevant jurisdiction and the parties shall be definitively bound by this advice.
In any event, irrespective of the foregoing, the Company’s financial liability towards Mr Horekens under this Article shall be limited to EUR 10,000 for each jurisdiction where any such claims may be filed. 
  
 ARTICLE 6 
  
 The company shall provide Mr Horekens with the assistance of the tax consultant that used to handle its tax filings during the
professional relationships with respect to amounts paid to Mr Horekens by Chiquita group companies in 2003 and 2004 including without being limited to the amounts provided for in this Agreement and the other Departure Agreements. 

 
 ARTICLE 7 
  
 In the event that the Belgian tax administration or any other competent authority in this or any other jurisdiction should determine that
additional income tax are or were due and payable on any payment made by the Company in the context of the separation then Mr. Horekens shall be solely liable for such claim and Mr Horekens will indemnify the Company or any Group Company at their
first request against any claim that may be made upon it by any competent authority in this or any other jurisdiction for such tax . 
  
 ARTICLE 8 
  
 1. 
  
 Mr Horekens may continue to use the
Company car, type Jaguar, until January 31, 2004, subject to the approval by the leasing Company. Mr Horekens must use the car with due diligence and must return the car to Chiquita at the offices of the Company, in good condition on or before
February 1, 2004. During this period, the Company will cover a reasonable amount of fuel. 
  
 2. 
  
 Mr. Horekens will be able to
exercise 75% of the SAR’s granted to him in 2002 in the course of 2004. The SAR’s which have not been exercised before 31 December 2004, will however lapse. 
  
 All other SAR’s, stock options, rights on performance shares and rights on matching shares, granted to Mr. Horekens shall lapse
immediately and without compensation on 31 December 2003. 
  

 3 

 ARTICLE 9 
  
 All other belongings, including phone, laptop computer, and printer as well as documents, keys, entrance cards, and business credit cards of the Company or any other
Company of the Group that Mr. Horekens presently possesses, will be returned at the latest at the date of signature of this agreement. 
  
 ARTICLE 10 
  
 After the termination of the professional relationship, Mr Horekens shall observe full confidentiality with respect to all matters relating to the Company and its affiliated companies and shall not in any
manner disclose any information, or use such information to his own benefit. 
  
 ARTICLE 11 
  
 Save as required by law, neither the Company and
its affiliated companies nor Mr Horekens shall without the consent in writing of the other party, disclose the terms of this Agreement to any person other than involved professional advisors, who require the information for necessary
professional purposes. Parties shall in the future conduct themselves with respect to the other party within the confines of normal good behaviour. They shall not refer to the other party in the future vis-à-vis third parties in a negative
way. Neither party shall co-operate in any publication and/or publicity about the other party without a written consent of the other party. 
  
 ARTICLE 12 
  
 1. 
  
 This Agreement is a
settlement agreement within the meaning of article 2044 Belgian Civil Code. 
  
 Without prejudice to the Departure Agreements, Mr Horekens confirms that the payment, under this Agreement shall constitute the sole financial obligation of the Company and the CHIQUITA GROUP to him. 
  
 Without prejudice to the Departure Agreements, this Agreement puts an end to all
disputes resulting from the performance or the termination of Mr Horekens’ professional relationships with the Company, as well as any other Company of the CHIQUITA GROUP. 
  
 Without prejudice to the Departure Agreements, the parties waive all rights and claims that they could invoke against each other, including
by or against any associated or affiliated undertaking of the Company, concerning the performance or termination of the professional relationships, including errors in fact or in law and omission as to the nature and scope of the
parties’ respective rights. 
  
 Without prejudice to the Departure
Agreements, the compensation paid under Article 2 constitutes full and final consideration for any and all damages resulting from the performance and the termination of the professional relationships between Mr Horekens and any group company,
in Belgium, Holland, France or any other part of the world. 
  

 4 

 Mr Horekens undertakes to resign from all his corporate offices. In addition, he returns at the date of signature of this
Agreement the shares that he holds within the Company and the other companies of the Group, as mentioned in Annex, without specific consideration. 
  
 2. 
  
 This Agreement is governed by Belgian law and, without prejudice to the Departure Agreements, fully and finally settles any and all claims that parties have or may have against each other, or against the
affiliated companies of the Company, arising out of or in connection with the professional relationships of Mr. Horekens or the termination thereof. 
  
 Any dispute concerning this Agreement will be submitted to the exclusive jurisdiction of the Belgian Courts. 
  
 This Agreement was signed in Antwerp, on 19.01.04, in two originals. By signing this
Agreement each party acknowledges having received one original. 
  
 read
and approved 
  

			
	Mr Peter Horekens	  	THE COMPANY
		
	 /s/ Peter Horekens

	  	 /s/ Francis Kint

	Mr Peter Horekens	  	Mr Francis Kint
	(Signature preceded by the hand-written words “read and approved”)	  	Vice President Sales North & Eastern Europe CISG

  

 5 

 SETTLEMENT AGREEMENT 
  
 BETWEEN THE UNDERSIGNED 
  

	•	Chiquita Compagnie des Bananes SA, whose registered office is at 38 rue du Séminaire, 94616 Rungis Cedex, France and which is registered at the Register of Companies and
Businesses of Créteil under the number B 542 053 343, represented by Mr Bob Kistinger, President COO of CBI; 

  
 (hereafter the “Company”) 
  

	AND	

  

	•	Mr Peter Anthony George Horekens residing at Nachtvlinderslaan 19, 1000 Brussels, Belgium; 

  
 (hereafter “Mr Horekens”) 
  
 hereafter the “Parties”. 
  
 DEFINITIONS 
  
 For the purposes of this Agreement, “Confidential Information”, “Group” and “Control” will have the following meanings: 
  

	•	“Confidential Information” means all direct and indirect information whether oral or written, known by Mr Horekens within the scope of his activities or concerning the
business of the Company, administrative, commercial or financial matters, technology (including software), products, customers of the Company or any company of the Group. This information includes, inter alia, without this list being exhaustive (i)
information relating to the methods and product development, (ii) the names and addresses of the current or potential clients of the Company and of the Group, (iii) pricing and sales strategies, technical matters and concepts, (iv) trade secrets
except for information in the public domain or known by Mr Horekens before being appointed a corporate officer of the Company. 

  

	•	“Group” comprises any company whatever its legal form, French or foreign, which directly or indirectly, as owner or through one or more intermediate companies, Controls,
is Controlled by or is under the same Control as the Company. 

  

 1 

	•	“Control” means the direct or indirect ownership, as direct owner or through intermediate companies, of at least 50% of the shares to which the voting rights are attached
or otherwise a relationship in which the Controlled company is accustomed to acting in accordance with the directions of the Controlling company. 

  

“Departure Agreements” means the agreements entered into between Mr Horekens and various group companies in the context of his cessation of
all professional relationships for such group companies. 
  
 IT BEING
UNDERSTOOD THAT: 
  

	1.	Facts 

  
 Mr Horekens was appointed as Managing Director of the company. On 18th March, 2003, he was appointed Chairman of the Board of the Company. 
  
 In mid-November, 2003, the Group informed Mr Horekens of its decision to
terminate his corporate mandates with the Company with effect as from 31 December 2003. 
  
 Mr Horekens has decided to co-operate with the termination process decided by the Group by resigning from his corporate mandates. However, Mr Horekens considered that the decision to terminate the corporate mandates
with the Company resulted in him suffering professional loss and informed the Company of his intention to challenge the decision in the relevant court. 
  

	2.	Reconciliation 

  
 The Parties commenced discussions and these negotiations have continued for a considerable time. 
  
 Neither of the Parties is willing to accept fully the other Party’s
argument but each Party recognises the fact that the corporate mandates have been terminated. 
  
 The Parties have agreed to put an end to their dispute and, after having made mutual concessions, now enter into this settlement agreement, the terms of which are set out below. 
  
 IT HAS CONSEQUENTLY BEEN DECIDED THAT: 
  
 ARTICLE 1 
  
 Mr Horekens accepts the Company’s decision to terminate his corporate mandates as Chairman of the Board and Managing Director
(“Président Directeur Général”) of the Company and Mr Horekens will co-operate with the Company’s decision by formally resigning from these corporate mandates with effect from 31 December, 2003. 

 
 Mr Horekens confirms that he was not an employee of the Company. Consequently, the
dismissal procedure was not applicable to the termination of his relationship with the Company and he was not entitled to receive any dismissal indemnities. 
  

 2 

 Mr Horekens confirms that he has returned the share(s) that he holds in the Company. 
  
 ARTICLE 2 
  
 As consideration for the termination of Mr Horekens’s corporate mandates, the Company will pay to Mr Horekens a total, definitive,
gross lump sum settlement payment of an amount of 290,757 (the “Settlement Payment”) at the latest on 29 February 2004. 
  
 One third of the total amount of the bonus for performance in 2003, if any, will be paid by the Company in line with the bonus policy of the Group. This bonus, if any,
will be paid in 2004 by the Company at the same time as for the other individuals of the Group who are eligible to receive this bonus. 
  
 As for all other previous payments made to Mr Horekens in connection with his corporate mandates, the amounts mentioned above will be subject to the payment in the
Netherlands of all applicable social security contributions due, if any by the respective Parties at the date of the payments. 
  
 A pay slip providing details of the payment of the above amounts will duly be provided to Mr Horekens. 
  
 ARTICLE 3 
  
 The Settlement Payment settles all disputes resulting from the conditions surrounding and the reasons for the termination of Mr Horekens’s corporate mandates. This
payment will indemnify Mr Horekens for all professional loss that he has suffered or may suffer as a result of the termination of his corporate mandates. 
  
 ARTICLE 4 
  
 Without prejudice to the Departure Agreements, Mr Horekens confirms that he has no further rights or claims against the Company or any other company in the Group arising out of his corporate mandates and/or the
termination of his corporate mandates or his relationship with the Company and irrevocably undertakes to waive: 
  

	(i)	all existing or future claims relating to his corporate mandates or their termination or his relationship with the Company that he may have against the Company or any other past,
present or future legal entity (irrespective of its legal form) or its successor belonging to the Group; and 

  

	(ii)	all existing or future claims relating to his corporate mandates or their termination or his relationship with the Company that he may have against any past, present or future
shareholder, corporate officer, manager, employee, agent or representative of the Company or any other past, present or future legal entity (irrespective of its legal form) or its successor belonging to the Group; and 

  

	(iii)	all claims for any amount (e.g. salary, bonus, business expenses, dismissal indemnity or compensation for unfair or irregular dismissal etc.) relating to Mr Horekens’s
corporate mandates or their termination or his relationship with the Company. 

  

 3 

 ARTICLE 5 
  
 At the date of signature of this agreement, Mr Horekens confirms that he has returned to the Company all property, materials or documents belonging to the Company and/or
any Group company as well as any Confidential Information and he undertakes not to use or disclose any Confidential Information for himself or on behalf of any other person other than the Company or any Group company, without the express agreement
of the Company. 
  

	ARTICLE	6 

  
 Mr Horekens agrees that he is fully aware of his situation in relation to social security and tax matters and agrees that any questions in these respects will not affect this agreement. 
  
 Mr Horekens confirms that he has taken the necessary time to consider these provisions before
signing this agreement. 
  
 In the event that the French tax administration or any
other competent authority in this or any other jurisdiction should determine that additional income tax are or were due and payable on any payment made by the Company in the context of the separation then Mr. Horekens shall be solely liable for such
claim and Mr Horekens will indemnify the Company or any Group Company at their first request against any claim that may be made upon it by any competent authority in this or any other jurisdiction for such tax . 
  
 ARTICLE 7 
  
 The Parties undertake: (i) to keep both this agreement and the conditions under which Mr Horekens’s corporate mandates have been
terminated confidential and (ii) not to disclose any of the terms of this agreement to a third party except where legally required to do so by the relevant social security and/or tax authorities. 
  
 ARTICLE 8 
  
 The Parties enter into this agreement in accordance with articles 2044 and the following articles of the French Civil code. This agreement
settles definitively all present and future disputes between the Parties relating to the performance or termination of Mr Horekens’s corporate mandates and his relationship with the Company and results in the waiver of all rights, actions and
claims accordingly. 
  
 ARTICLE 9 
  
 The terms of this agreement constitute the entire agreement and understanding between the
Parties and supersede and replace all other agreements and negotiations (whether implied or express, orally or in writing) between the Parties. 
  

 4 

 ARTICLE 10 
  
 The terms of this agreement shall be governed by and construed in accordance with French Law. The Parties agree to submit to the exclusive jurisdiction of the French
Courts as regards any claim or matter arising from this agreement. 
  
 Executed in Brussels 
 On 19.01.04 
 In two original copies 
  
 approved as a settlement without reservation and as a waiver and discontinuance of all action and litigation 
  

			
	 /s/ Peter Horekens

	  	 /s/ Bob Kistinger

	 Mr Horekens
	  	 On behalf of the Company,

	 	  	 Mr Bob Kistinger

	 	  	 President COO of CBI

  
 (After having initialed all pages, the
Parties must write the following above the relevant signature “approved as a settlement without reservation and as a waiver and discontinuance of all action and litigation”) 
  

 5 

 Non-Competition Agreement 
  

			
	BETWEEN:	    	Chiquita International Services Group NV, having its registered office at Rijnkaai 37, 2000 Antwerpen, Belgium;
		
	 	    	For the purpose of this agreement represented by Bob Kistinger, in his capacity as President COO of CBI, and Mr Francis Kint, in his capacity as Vice President Sales North & Eastern
Europe CISG;
		
	 	    	 referred to as “The Company” ;

		
	AND:	    	 Peter Anthony George Horekens, residing at Nachtvlinderslaan 19, 1000 Brussels, Belgium;
 referred to as “Mr Horekens”;

  
 BACKGROUND:

  
 As from July 14, 1997, Mr Horekens was appointed as Managing Director of
the Company (hereafter “professional relationships”). 
  
 In
mid-November 2003, the Company informed Mr Horekens of its decision to terminate the professional relationships, with effect as from 31 December 2003. 
  
 Mr Horekens agreed to cooperate with the termination process decided by the Company, subject to the financial consideration and terms and conditions provided for in
various agreements. 
  
 Mr Horekens has considerable experience within the
business of import, export, transportation and processing of fresh and preserved fruits. 
  
 In that context the Parties have agreed that Mr Horekens will sign a non competition covenant on the terms and conditions set out below (hereafter “Agreement”). 
  
 IT IS AGREED: 
  
 ARTICLE 1. 
  
 Until 31 December 2004, Mr. Horekens undertakes not to solicit, promote business with, be a shareholder holding more than 5% of the shares,
or be employed or involved with in any way, directly or indirectly, either for his own account or for the account of others, in an employment agreement or in any consulting arrangement or in any other manner, formally or informally, in or with any
Company as listed in Annex I to this Agreement that operates or intends to operate in a line or lines of business of import, export, transportation and processing of fresh and preserved fruits similar to the Company and/or its affiliated
companies without prior written consent of the Company. This obligation of non-compete with respect to the companies listed in Annex I will be world-wide. 

 ARTICLE 2. 
  
 As compensation for Mr Horekens ‘s undertaking in article 1, the Company will pay to Mr Horekens a one-off gross lump sum of EUR 150,000 EUR. 
  
 This amount will be paid to Mr Horekens, on 29 February 2004, subject to applicable tax
withholding. 
  
 ARTICLE 3. 
  
 Mr Horekens may request for the Company’s approval to carry out activities in, for or
to the benefit of an excluded company, as listed in Annex I: 
  
 If he wishes to solicit or promote any kind of business, as described in article 1, with a company listed in Annex I; and 
  
 If he has serious and reasonable arguments defending that his activities in, for or to the benefit of that company cannot in any way impede or prevent
competition, nor render it more difficult for the Company. 
  
 The Company will
take his request into consideration. Only a clear and written approval can exempt Mr Horekens from his obligation under article 1. The company does not need to motivate its refusal. 
  
 ARTICLE 4. 
  
 If Mr Horekens breaches the undertaking in article 1, he must reimburse to the Company the compensation that he received pursuant to clause 2. 
  
 ARTICLE 5. 
  
 This agreement is governed by Belgian law. 
  
 Any dispute concerning this Agreement shall be submitted to the exclusive jurisdiction of the Belgian courts. 
  

 1 

 This Agreement is signed in Antwerp, on 19.01.04, in two originals. By signing this Agreement each party
acknowledges having received one original. 
  
  

			
	 Mr Horekens
  
 read and approved
	  	 The Company

		
	 /s/ Peter Horekens

	  	 /s/ Bob Kistinger

	 Mr Horekens
	  	 Mr Bob Kistinger

	(Signature preceded by the hand-written words “read and approved”)	  	 President COO of CBI

		
	 	  	 /s/ Francis Kint

	 	  	 Mr Francis Kint

	 	  	 Vice President Sales North & Eastern Europe CISG

  

 2

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