Document:

a6703764ex10_1.htm

EXHIBIT 10.1

 

FRESH DEL MONTE PRODUCE INC.

PERFORMANCE INCENTIVE PLAN FOR CHIEF EXECUTIVE OFFICER

THE PLAN

Fresh Del Monte Produce Inc., a Cayman Islands corporation (the “Company”), established the Performance Incentive Plan for the Chief Executive Officer on March 02, 2011 (the “Plan”), effective as of January 1, 2011.

 

1.             Purpose

 

The purpose of this Plan is to advance the interests of the Company by providing a means to pay performance-based short-term incentive compensation to the Company’s Chief Executive Officer upon whose judgment and efforts the Company is largely dependent for the successful achievement of its annual business goals.

 

2.             Definitions

 

As used in this Plan and in connection with any Award, the terms set forth below shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms of the terms defined):

 

(a)           “Award” means the opportunity to earn compensation under this Plan, subject to the achievement of one or more Performance Goals and such other terms and conditions as the Committee may impose.

 

(b)           “Board” means the Board of Directors of the Company.

 

(c)           “Code” means the Internal Revenue Code of 1986, as amended, and regulations and rulings thereunder.  References to a particular section of, or rule under, the Code shall include references to successor provisions.

 

(d)           “Committee” has the meaning specified in Section 3(a).

 

(e)           “Net Income” is the amount of Net Income of the Company reflected on the audited financial statements for the measurement period as adjusted under the provisions of 5(a).

 

(f)            “Participant” means the Chief Executive Officer of the Company who has been granted an Award that remains outstanding.

 

(g)           “Performance Goal” means those goals and measures selected by the Committee for each Participant and each Performance Period, as described in Section 5(b).

 

(h)           The “Performance Period” for an Award means the Company’s fiscal year to which the Performance Goals relate.

 

  

1

  

 

(i)            “Section 162(m) Exemption” means the exemption from the limitation on deductibility imposed by Section 162(m) of the Code that is set forth in Section 162(m)(4)(C) of the Code.

 

(j)            “Termination of Employment” of a Participant means the termination of the Participant’s employment with the Company.

 

(k)           “Threshold Amount” means the level of Net Income specified by the Committee as necessary in order for any annual incentive award to be awarded.

 

3.             Administration

 

(a)   This Plan shall be administered by the Compensation Committee of the Board, or such other committee consisting of two or more “outside directors” (as defined or interpreted for purposes of the Section 162(m) Exemption) as is appointed by the Board (the “Committee”).  The Committee shall have full and final authority, in its discretion, but subject to the express provisions of this Plan, to establish the terms and conditions of Awards, to determine the extent to which Awards are actually earned pursuant to their terms and the amounts to be paid, either in cash or otherwise, to interpret this Plan and to make all determinations necessary or advisable for the administration of this Plan.  The Committee may delegate any or all of its administrative duties and responsibilities under this Plan to any individual or group of individuals it deems appropriate, but no such delegation shall be made to the extent it would cause an Award not to qualify for the Section 162(m) Exemption.

 

(b)   Prior to payment, the Committee shall certify in writing that the Performance Goals and any other material terms of the Awards were in fact satisfied.  For this purpose, approved minutes of the Committee meeting in which the certification is made are treated as written.

 

(c)   The determination of the Committee on all matters relating to this Plan and all Awards shall be made in its sole discretion, and shall be conclusive and final.  No member of the Committee or any delegate of the Committee shall be liable for any action or determination made in good faith with respect to this Plan or any Award.

 

4.             Eligibility; Maximum Awards; Payment of Awards

 

(a)   Awards may be granted only to the Chief Executive Officer of the Company.

 

(b)   The maximum Award that can be made to any one Participant with respect to each Performance Period shall be an amount equal to the lesser of (i) 250% of the Participant’s base pay and (ii) $3,000,000.

 

(c)   Awards shall be payable as soon as practicable following the written certification thereof by the Committee for such Performance Period or at such time as the Committee may determine, but in no event later than two and one-half months following the end of the Performance Period.  Unless otherwise provided in an employment agreement or other agreement between the Company and a Participant, Participants must be employed on the date of payment in order to receive such Award.

 

  

2

  

 

(d)   Awards may be paid, in whole or in part, in cash, in the form of stock based awards (other than options) made under the Company’s 2011 Omnibus Share Incentive Plan, as amended from time to time and any successor plan, or in any other form prescribed by the Committee, and may be subject to such additional restrictions as the Committee, in its sole discretion, shall impose.  Where Awards are paid in property other than cash, the value of such Awards, for purposes of the Plan, shall be determined by reference to the fair market value of the property on the date of the Committee’s certification required by Section 3(b).  For this purpose, the fair market value of shares of common stock of the Company on a particular date shall equal the “Fair Market Value” (as determined under the 2011 Omnibus Share Incentive Plan) of such shares on that date.

 

5.             Establishment of Awards

 

(a)   In connection with the grant of each Award, the Committee shall, in writing, by resolution of the Committee or other appropriate action, not later than 75 days after the commencement of the Performance Period to which the performance goals relate, (i) determine the Performance Goal(s) applicable to such Award, (ii) establish the formula for determining the amounts payable based upon achievement of the applicable Performance Goals, (iii) determine the consequences for the Award of the Participant’s demotion or promotion during the Performance Period, (iv) specify the consequences for the Award of the occurrence of a change in control during the Performance Period, and (v) establish such other terms and conditions for the Award as it may deem appropriate.

 

Performance Goals may take the form of absolute goals or goals relative to the performance of one or more other companies or of an index covering multiple companies.  In establishing Performance Goals and measuring their achievement, the Committee may specify that there shall be excluded the effect of restructuring charges, facility closure costs, discontinued operations, asset impairment charges, the effect of foreign currency fluctuations outside of specified parameters, extraordinary items, cumulative effects of accounting changes, certain weather related impacts; losses on debt extinguishment; the cost and impact of governmental investigations or proceedings, including fees and penalties to the extent such investigations result in no findings of illegal behavior on the part of the Company or an individual Participant ; items classified in our consolidated financial statements as items of “Other Income and Expense”; the impact of new accounting standards or income tax regulations; and other unpredictable and uncontrollable events, in each case as those terms are defined under generally accepted accounting principles and provided in each case that such excluded items are objectively determinable by reference to the Company’s financial statements, notes to the Company’s financial statements and/or management’s discussion and analysis in the Company’s financial statements.  The exclusion of any of the above listed items in determining the achievement of any Performance Goals will be at the sole discretion of the Committee.

  

3

  

 

The formula established by the Committee shall be based upon one or more of the following performance goals, individually or in combination, adjusted in such manner as the Committee shall determine:

  (i)   before or after tax net income;

 

  (ii)   earnings per share;

 

  (iii)   book value per share;

 

  (iv)   stock price;

 

  (v)   return on stockholder’s equity;

 

  (vi)   expense management;

 

  (vii)   improvements in capital structure,

 

  (viii) profitability of an identifiable business unit or product (including return on investment on new business acquisitions or growth and expansion activities for the year);

 

  (ix)   business growth (percent increase in revenue from year to year);

 

  (x)   before or after tax profit margins;

 

  (xi)   budget comparisons;

 

  (xii)   total return to stockholders;

 

  (xiii)   market share (percent shares the Company has captured in the market);

 

  (xiv)  the relative performance of the Company against a peer group of companies on any of the measures above; or

 

  (xv)   any similar metric that would reflect the Company’s performance in effecting its strategy.

 

(b)   A Participant may not receive payment for an Award unless applicable Performance Goal(s) have been achieved and such results have been certified by the Committee in accordance with Section 3(b).

 

(c)   Awards made under this plan shall be determined using a combination of the achievement of the Performance Goals as determined under 5(b) above (the “Corporate Achievement Factor”), the Target Award, and the individual performance of the Participant (the “Individual Performance Factor”).  No award will be deemed earned if Net Income for the period is below the Threshold Amount of Net Income as determined by the Committee under 3(b) and no Award can made to the extent such Award exceeds a percentage of the amount by which Net Income exceeds the Threshold Amount as established by the Committee at the beginning of the measurement period.  The Target Award is equal to 100% of the Participant’s salary at the time the Target Award is established.  The Corporate Achievement Factor is equal to the weighted average of the percentage of the actual achievement of each individual Performance Goal measured against each individual Performance Goal applicable to the measurement period.  The Individual Achievement Factor will be determined by the Committee after considering the totality of the contribution of each Participant to the achievements of the Company during the measurement period.  The maximum Corporate Achievement Factor may not exceed 125% and the maximum Individual Achievement Factor may not exceed 200%.  The Committee may fix the Individual Achievement Factor at the beginning of the measurement period and upon the conclusion of the measurement period use its discretion to reduce the Individual Achievement Factor from that amount.

 

  

4

  

 

As an illustration of the computation:

Annual Incentive = Corporate Achievement Factor x Target Award x Individual Achievement Factor.

Performance Goal 1 achieved at 100% of objective.

Performance Goal 2 achieved at 50% of objective.

Performance Goal 3 achieved at 120 % of objective.

Corporate Achievement Factor (equally weighted) = 90%

Target Award = 100% of salary

Individual Achievement factor determined to be 150%

Award = (90% x 100% x 150%) x Salary = 135% of salary

Note that the above illustration would also be subject to achievement of the Threshold Amount of Net Income and a limitation on the percentage of the excess of Net Income above the Threshold which can be used for annual incentives.

(d)   The Committee shall have the right to decrease, but not increase, the amount payable pursuant to an Award, irrespective of the achievement of Performance Goals, in its sole discretion at any time and for any reason prior to the certification of the payment by the Committee.

 

(e)   Any questions or disputes as to the applicability of provisions of this plan, the definition of any Performance Goals or other terms of this plan or with regard to the computation of the amount of any award, shall be determined in the sole discretion of the Committee.

 

6.             Non-Transferability

 

Awards shall not be assignable or transferable other than by will or the laws of descent and distribution.

 

  

5

  

 

7.             Withholding Taxes

 

The Company may withhold or cause to be withheld from any or all payments under this Plan such amounts as are necessary to satisfy all U.S. federal, state and local withholding tax requirements related thereto.

 

8.             Funding

 

The Company shall not be required to fund, or otherwise segregate assets to be used for payment of, benefits under this Plan.

 

9.             No Employment Rights

 

Neither the establishment of this Plan, nor the granting of any Award, shall be construed to (a) give Participant the right to remain employed by the Company or any of its subsidiaries or to any benefits not specifically provided by this Plan or (b) in any manner modify the right of the Company or any of its subsidiaries to modify, amend, or terminate any of its employee benefit plans.

 

10.           Amendment of this Plan and Awards

 

The Board may from time to time in its discretion amend or modify this Plan or Awards and the Board or the Committee may from time to time amend Awards; provided that, except as set forth in Section 5(d), no such amendment shall materially decrease the value of any previously-granted Award without the consent of the Participant, unless required by law.

 

11.           Termination of this Plan

 

This Plan shall terminate immediately before the first meeting of the Company’s stockholders that occurs during the calendar year 2016 or at such earlier time as the Board may determine.  Any termination, whether in whole or in part, shall not affect any Award then outstanding under this Plan.

 

12.           Controlling Law

 

The law of the state of Florida, except its law with respect to choice of law, shall be controlling in all matters relating to this Plan.

 

13.           Section 409A

 

All provisions of the Plan are meant to be exempt from compliance with Section 409A of the Code, to the maximum extent permitted pursuant to Section 1.409A-1(b)(4), or otherwise, and in all other respects to comply with Section 409A of the Code.  Accordingly, all provisions of the Plan shall be construed in a manner consistent with avoiding taxes or penalties under Section 409A of the Code.  If any provision of this Plan would cause a Participant to incur any additional tax or interest under Section 409A of the Code, the Company shall reasonably cooperate with that Participant to reform such provision to comply with Section 409A of the Code to the extent permissible by applicable law; however, nothing herein shall require the Company to provide any Participant with a gross-up for any tax, interest or penalty incurred by such Participant under Section 409A of the Code.

  

6

  

 

14.           Return of or Reduction in the Award

 

In the event that following the end of the Performance Period, it is determined by the Committee and ratified by the Board that an Award was, in whole or in part, based on incorrect data (including financial results which pursuant to applicable laws, rules, regulations or applicable accounting principles are required to be restated), the Participant shall return to the Company the overpayment amount, where the overpayment amount shall be equal to the Award distributed to the Participant, reduced by the Award the Participant would have received had the correct data been used in the calculation of the Award.  The determinations made by the Committee and ratified by the Board pursuant to this Section shall be conclusive and binding on the Participant unless reached in an arbitrary and capricious manner.  The Company shall have the right to offset any amounts due it under this provision from any amounts due Participant from any other incentive compensation or equity award plans in which Participant participates.

 

	7a6703764ex10_2.htm

EXHIBIT 10.2

 

THIRD AMENDMENT TO SECOND

AMENDED AND RESTATED CREDIT AGREEMENT

 

Dated as of March 28, 2011

 

This THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is by and among FRESH DEL MONTE PRODUCE INC., a Cayman Island company (“Fresh Produce”), DEL MONTE FRESH PRODUCE N.A., INC., a Florida corporation (“Fresh N.A.”), DEL MONTE FRESH PRODUCE INTERNATIONAL, INC., a Liberian corporation (“Fresh International”), FRESH DEL MONTE SHIP HOLDINGS LTD., a Cayman Island company (“Ship Holdings”), DEL MONTE B.V. (f/k/a Del Monte Fresh Produce B.V.), a Netherlands corporation (“DMBV”), DEL MONTE (UK) LIMITED, an English limited company (“Fresh U.K.”), DEL MONTE FOODS INTERNATIONAL LIMITED, an English limited company (“Foods International”), DEL MONTE INTERNATIONAL, INC., a Panama corporation (“Del Monte International”), DEL MONTE EUROPE LIMITED, an English limited company (“Del Monte Europe”), DEL MONTE FUND B.V., a Netherlands Antilles company (“Fund BV”), DEL MONTE INTERNATIONAL GMBH, a Swiss limited liability company (“DMG”), and NETWORK SHIPPING LTD., a Bermuda company (“Network”; Fresh Produce, Fresh N.A., Fresh International, Ship Holdings, DMBV, Fresh U.K., Foods International, Del Monte International, Del Monte Europe, Fund BV, DMG and Network are referred to herein collectively as the “Borrowers” and each individually as a “Borrower”); the entities identified as “Guarantors” on the signature pages hereof (each a “Guarantor” and collectively, the “Guarantors”); the banks and other lending institutions listed on the signature pages hereof as Lenders (the “Lenders”); and COÖPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK NEDERLAND”, NEW YORK BRANCH, as administrative agent for the Lenders (the “Administrative Agent”).

 

PRELIMINARY STATEMENTS:

 

WHEREAS:

 

(1)           The Borrowers, the Administrative Agent, the Guarantors and the Lenders are parties to that certain Second Amended and Restated Credit Agreement dated as of July 17, 2009 (the “Credit Agreement”).

 

(2)           The Borrowers have requested that certain terms and conditions of the Credit Agreement be amended and the Administrative Agent and the Lenders have agreed to the requested amendments, on the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree that all capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Credit Agreement, and further agree as follows:

 

  

  

  

 

Section 1.         Amendments.

 

1.1  Section 1.1 of the Credit Agreement is amended by deleting the grid from the definition of “Applicable Margin” in its entirety and inserting the following in lieu thereof:

 

	
Level

	
Leverage Ratio

	
Applicable

Margin for LIBO

Rate Advances

	
Applicable

Margin for

Base Rate

Advances

	
Applicable

Margin for

Unused

Commitment

	
1

	
Greater than or equal to 2.75 to 1.00

	
2.500%

	
1.500%

	
0.500%

	
2

	
Less than 2.75 to 1.00, but greater than or equal to 2.25 to 1.00

	
2.250%

	
1.250%

	
0.375%

	
3

	
Less than 2.25 to 1.00, but greater than or equal to 1.50 to 1.00

	
2.000%

	
1.000%

	
0.375%

	
4

	
Less than 1.50 to 1.00, but greater than or equal to 1.00 to 1.00

	
1.750%

	
0.750%

	
0.250%

	
5

	
Less than 1.00 to 1.00

	
1.500%

	
0.500%

	
0.250%

 

Section 2.         Representations and Warranties.  Each Borrower and Guarantor represents and warrants as follows:

 

(a)  The execution, delivery and performance by such Loan Party of this Amendment and the other transactions contemplated hereby, are within such Loan Party’s corporate powers, have been duly authorized by all necessary corporate action, and do not (i) contravene such Loan Party’s charter or bylaws; (ii) violate any law (including, without limitation, the Securities Exchange Act of 1934, the Racketeer Influenced and Corrupt Organizations Chapter of the Organized Crime Control Act of 1970 and any similar statute), rule, regulation (including, without limitation, Regulation X of the Board of Governors of the Federal Reserve System), order, writ, judgment, injunction, decree, determination or award; (iii) conflict with or result in the breach of, or constitute a default under, any contract, loan agreement, indenture, mortgage, deed of trust, lease or other instrument binding on or affecting any Loan Party, any of its Subsidiaries or any of their properties; or (iv) except for the Liens created under the Security Documents, result in or require the creation or imposition of any Lien upon or with respect to any of the properties of any Loan Party or any of its Subsidiaries.

 

  

  

  

 

(b)  No authorization or approval or other action by, and no notice to or filing with, any Governmental Authority or regulatory body or any other third party is required for the due execution, delivery, recordation, filing or performance by any Loan Party of this Amendment and each other Loan Document contemplated hereby to which it is or is to be a party, or for the consummation of the transactions contemplated hereby.

 

(c)  This Amendment and each other document required to be delivered by a Loan Party hereunder have been duly executed and delivered by each Loan Party thereto, and constitute the legal, valid and binding obligation of each Loan Party thereto, enforceable against such Loan Party in accordance with their terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally.

 

(d)  The representations and warranties contained in Article 4 of the Credit Agreement, and in each of the Loan Documents, are correct in all material respects on and as of the date hereof as though made on and as of such date, other than any such representations and warranties that, by their terms, expressly refer to an earlier date.

 

(e)  No event has occurred and is continuing that constitutes an Event of Default or would constitute an Event of Default but for the requirement that notice be given or time elapse or both.

 

Section 3.         Conditions Precedent to Effectiveness of this Amendment.  This Amendment shall be effective as of the date first set forth above upon receipt of the following by the Administrative Agent, in form and substance satisfactory to the Administrative Agent:

 

(i)         this Amendment duly executed by the Borrowers, the Guarantors, the Administrative Agent, the Issuing Bank and the Lenders; and

 

(ii)        such other documents, instruments, and information executed and/or delivered by the Borrowers as the Administrative Agent may reasonably request; and

 

(iii)       an amendment fee of $500,000 from the Borrowers, for the ratable benefit of the Lenders party hereto and an administrative fee from the Borrowers for the Administrative Agent as agreed between the Borrowers and the Administrative Agent, which amendment and administrative fees shall be fully-earned and non-refundable when paid.

 

Section 4.         Reference to and Effect on the Credit Agreement.

 

(a)  Upon the effectiveness of this Amendment as set forth in Section 3 hereof, on and after the date hereof, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import shall mean and be a reference to the Credit Agreement as amended hereby, and each reference in the Notes and the other Loan Documents to the Credit Agreement shall mean and be a reference to the Credit Agreement as amended hereby.

 

(b)  Except as specifically amended above, the Credit Agreement shall remain in full force and effect and are hereby ratified and confirmed in all respects.

 

  

  

  

 

(c)  The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Lenders under the Credit Agreement or any other Loan Document, nor constitute a waiver of any provision of the Credit Agreement or any other Loan Document.

 

Section 5.         Costs, Expenses and Taxes.  The Borrowers agree, jointly and severally, to pay on demand all costs and expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Amendment and the other instruments and documents to be delivered hereunder (including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for the Administrative Agent with respect thereto).  In addition, the Borrowers agree, jointly and severally, to pay any and all stamp and other taxes payable or determined to be payable in connection with the execution and delivery of this Amendment and the other instruments and documents to be delivered hereunder, and agree to save the Administrative Agent and the Lenders harmless from and against any and all liabilities with respect to or resulting from any delay in paying or omission to pay such taxes.

 

Section 6.         Affirmation of Guaranty.  By executing this Amendment, each Guarantor hereby acknowledges, consents and agrees that all of its obligations and liability under its Guaranty Agreement remain in full force and effect in relation to the Credit Agreement, as amended and modified by this Amendment, and that the execution and delivery of this Amendment and any and all documents executed in connection therewith shall not alter, amend, reduce or modify its obligations and liability under its Guaranty Agreement.

 

Section 7.         Affirmation of Security Documents.  By executing this Amendment, each Loan Party hereby reaffirms and confirms each Security Document to which it is a party, and its payment and performance obligations, contingent or otherwise, thereunder and hereby acknowledges that the rights granted thereby in favor of the Administrative Agent (for its benefit and the benefit of the Lenders) are in full force and effect.  With respect to any Security Documents which are governed by English law, the reaffirmation, confirmation and acknowledgement in this Section shall be governed by English law, and shall be construed, interpreted, performed and enforced in accordance therewith.

 

Section 8.         Execution in Counterparts.  This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same instrument.  Delivery of a signature page hereto by facsimile transmission or by other electronic transmission shall be as effective as delivery of a manually executed counterpart hereof.

 

Section 9.         Governing Law.  This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York (except as otherwise set forth in Section 7).

 

Section 10.      Final Agreement.  This Amendment represents the final agreement between the Borrowers, the Administrative Agent and the Lenders as to the subject matter hereof and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements of the parties.  There are no unwritten oral agreements between the parties.  This Amendment shall constitute a Loan Document for all purposes.

 

  

  

  

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective officers thereunto duty authorized, as of the date first above written.

	
BORROWERS:

	
FRESH DEL MONTE PRODUCE INC.

	  	  	  
	  	  	  
	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

	 	 	 
	 	 	 
	 	 	 
	 	DEL MONTE FRESH PRODUCE N.A., INC.
	 	 	 
	 	 	 
	 	 
By:

	 
	 	 	 
Name:

	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	
DEL MONTE FRESH PRODUCE

	 	 
INTERNATIONAL, INC.

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	FRESH DEL MONTE SHIP HOLDINGS LTD.
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

  

  

  

	
 

	
 
DEL MONTE B.V.

	  	  	  
	  	  	  
	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

	 	 	 
	 	 	 
	 	 	 
	 	 
DEL MONTE (UK) LIMITED

	 	 	 
	 	 	 
	 	 
By:

	 
	 	 	 
Name:

	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	
 
DEL MONTE FOODS INTERNATIONAL

	 	 
LIMITED

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	 
DEL MONTE INTERNATIONAL, INC.

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	DEL MONTE EUROPE LIMITED
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

  

  

  

	
 

	
 
 
DEL MONTE FUND B.V.

	  	  	  
	  	  	  
	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

	 	 	 
	 	 	 
	 	 	 
	 	 
 
NETWORK SHIPPING LTD.

	 	 	 
	 	 	 
	 	 
By:

	 
	 	 	 
Name:

	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	
 
DEL MONTE INTERNATIONAL GMBH

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

  

  

  

 

	
GUARANTORS:

	
DEL MONTE FRESH PRODUCE COMPANY

	  	  	  
	  	  	  
	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

	 	 	 
	 	 	 
	 	 	 
	 	 
DEL MONTE FRESH PRODUCE

	 	(SOUTHWEST), INC
	 	 	 
	 	 	 
	 	 
By:

	 
	 	 	 
Name:

	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	
 
FRESH DEL MONTE PRODUCE (CANADA),

	 	 
INC.

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	 
DEL MONTE FRESH PRODUCE (WEST

	 	COAST), INC.
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	DEL MONTE FRESH PRODUCE (TEXAS), INC.
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

  

  

  

 

	
 

	
 
FDM HOLDINGS LIMITED

	  	  	  
	  	  	  
	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

	 	 	 
	 	 	 
	 	 	 
	 	 
 
DEL MONTE B.V.I. LIMITED

	 	 	 
	 	 	 
	 	 
By:

	 
	 	 	 
Name:

	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	
 
 
CORPORACION DE DESARROLLO

	 	 
AGRICOLA DEL MONTE S.A.

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	 
 
COMPAÑIA DE DESARROLLO BANANERO

	 	 DE GUATEMALA, S.A.
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	 
DEL MONTE FRESH PRODUCE (ASIA-

	 	PACIFIC) LIMITED
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

  

  

  

 

	
 

	
 
 
FRESH DEL MONTE PRODUCE N.V.

	  	  	  
	  	  	  
	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

	 	 	 
	 	 	 
	 	 	 
	 	 
 
 
WAFER LIMITED

	 	 	 
	 	 	 
	 	 
By:

	 
	 	 	 
Name:

	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	
 
 
 
FRESH DEL MONTE JAPAN COMPANY LTD.

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	 
 
 
DEL MONTE FRESH PRODUCE (CHILE) S.A..

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	 
 
DEL MONTE FRESH PRODUCE INVESTMENT

	 	 (CHILE) CORP.
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	CLAVERTON LIMITED
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title: 

 

  

  

  

 

	
 
ADMINISTRATIVE AGENT AND

	
 

	LENDERS:	 
COÖPERATIEVE CENTRALE RAIFFEISEN-

	 	BOERENLEENBANK B.A., “RABOBANK
	 	NEDERLAND”, NEW YORK BRANCH, as
	 	Administrative Agent and a Lender
	 	 	 
	  	  	  
	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title: 
	 	 	 
	 	 	 
	 	 	 
	 	 
 
AGFIRST FARM CREDIT BANK, as a Lender

	 	 	 
	 	 	 
	 	 
By:

	 
	 	 	 
Name:

	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	
 
 
SUNTRUST BANK, as a Lender

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	 
 
FARM CREDIT SERVICES OF MID-AMERICA,

	 	 PCA, as a Lender
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

  

  

  

 

	
 

	
 
 
ING CAPITAL LLC, as a Lender

	  	  	  
	  	  	  
	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

	 	 	 
	 	 	 
	 	 	 
	 	 
 
 
U.S. AGBANK, FCB, as a Lender

	 	 	 
	 	 	 
	 	 
By:

	 
	 	 	 
Name:

	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	
 
 
 
U.S. BANK NATIONAL ASSOCIATION, as a

	 	 
 Lender

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	 
 
 
BANK OF AMERICA, N.A., as a Lender

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	 
 
COBANK, ACB, as a Lender

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

  

  

  

 

	
 

	
 
 
 
FARM CREDIT BANK OF TEXAS, as a Lender

	  	  	  
	  	  	  
	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

	 	 	 
	 	 	 
	 	 	 
	 	 
 
 
 
FARM CREDIT WEST, PCA, as a Lender

	 	 	 
	 	 	 
	 	 
By:

	 
	 	 	 
Name:

	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	
 
 
 
 
GREENSTONE FARM CREDIT SERVICES

	 	 
  ACA/FCLA, as a Lender

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	 
 
 
 
1ST FARM CREDIT SERVICES, PCA, as a

	 	Lender
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	 
 
 
JPMORGAN CHASE BANK, N.A., as a Lender

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

  

  

  

 

	
 

	
 
 
 
 
AMERICAN AGCREDIT, PCA, as a Lender

	  	  	  
	  	  	  
	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

	 	 	 
	 	 	 
	 	 	 
	 	 
 
 
 
 
FARM CREDIT SERVICES OF AMERICA, PCA,

	 	as a Lender
	 	 	 
	 	 	 
	 	 
By:

	 
	 	 	 
Name:

	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	
 
 
 
 
 
REGIONS BANK, as a Lender

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	 
 
 
 
 
FARM CREDIT SERVICES OF THE

	 	MOUNTAIN PLAINS, PCA, as a Lender
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	 
 
 
 
UNITED FCS, PCA d/b/a FCS COMMERCIAL

	 	FINANCE GROUP, as a Lender
	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

  

  

  

	
 

	
 
 
 
TD BANK, N.A., as a Lender

	  	  	  
	  	  	  
	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

	 	 	 
	 	 	 
	 	 	 
	 	 
 
 
WELLS FARGO BANK, NATIONAL

	 	ASSOCIATION, as a Lender
	 	 	 
	 	 	 
	 	 
By:

	 
	 	 	 
Name:

	 	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	
 
 
BANK OF MONTREAL, as a Lender

	 	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00188-of-00352.parquet"}]]