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                                                                   EXHIBIT 10.23

                 FOURTH AMENDMENT OF SUPERVALU INC. NONQUALIFIED
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

     Effective February 26, 1989, this corporation established an unfounded
nonqualified deferred compensation plan for certain executive employees in
accordance with the terms of the Plan Statement entitled SUPERVALU INC.
NONQUALIFIED SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN, as amended by a First
Amendment, a Second Amendment and a Third Amendment. SUPERVALU INC. has reserved
to itself the power to amend said Plan Statement and it now desires to amend the
Plan Statement in the following respects:

1.   EARLY WITHDRAWALS. Effective November 22, 2002, a new Section 4.4 is hereby
     added to the Plan Statement which reads as follows:

     4.4 Early Withdrawal. A Participant, or in the event of such Participant's
     death, his or her surviving spouse or beneficiary, may, at any time,
     following the date such Participant retires from, or otherwise terminates
     employment with, SUPERVALU INC. or a subsidiary, request an immediate lump
     sum payment of all or part of the present value of the Actuarial Equivalent
     of the amounts payable to the Participant in the Basic Pension form,
     subject to forfeiture of ten percent (10%) of such amount."

2.   SAVINGS CLAUSE. Save and except as herein expressly amended the Plan
Statement shall continue in full force and effect.<PAGE>

                                                                   EXHIBIT 10.24

                                 SUPERVALU INC.
                   NON-EMPLOYEE DIRECTORS DEFERRED STOCK PLAN

        1.      Purpose. The purpose of the SUPERVALU INC. Non-Employee
Directors Deferred Stock Plan (the "Plan") is to further strengthen the
alignment of interests between members of the Board of Directors (the "Board")
of SUPERVALU INC. (the "Company") who are not employees of the Company (the
"Participants") and the Company's stockholders through the increased ownership
by Participants of shares of the Company's common stock, par value $1.00 per
share ("Common Stock"). This will be accomplished by (i) providing to
Participants deferred compensation in the form of the right to receive shares of
Common Stock for services rendered in their capacity as directors, and (ii)
allowing Participants to elect voluntarily to defer all or a portion of their
fees for services as members of the Board pursuant to the Plan in exchange for
the right to receive shares of Common Stock valued at 110% of the cash fees
otherwise payable.

        2.      Eligibility. Each member of the Board of Directors of the
Company who is not an employee of the Company or of any subsidiary of the
Company shall be eligible to participate in the Plan.

        3.      Formula Share Award. Effective on July 1, or the first business
day thereafter in each year (the "Award Date"), the Company shall award each
Participant who shall continue to serve on the Board following the Award Date,
as a credit to the Participant's account under the Plan (the "Deferred Stock
Account"), that number of shares (rounded to the nearest one-hundredth share) of
Common Stock, having an aggregate fair market value on the Award Date of Twenty
Thousand Dollars ($20,000) (the "Award"). The Award shall be in addition to any
cash retainer, stock options, or other remuneration received by the Participant
for services rendered as a director. If, after receiving an Award, the
Participant shall cease to serve on the Board prior to the Company's next annual
meeting, for any reason other than death or permanent disability, then such
Participant's Deferred Stock Account shall be reduced by (i) that number of
shares equal to 1/12 of the Award for each full calendar month during which the
Participant did not serve as a director of the Company, plus (ii) any dividends
paid on that number of shares of Common Stock specified in (i) above during the
period that the Participant did not serve as a director of the Company.

        4.      Election to Defer Cash Compensation. A Participant may elect to
defer, in the form of a credit to the Participant's Deferred Stock Account all
or a portion of the annual cash retainer, meeting fees for attendance at
meetings of the Board and its committees, committee chairperson retainers, and
any other fees and retainers ("Compensation") otherwise payable to the director
in cash during the period following the effective date of the deferral election.
Such deferral election shall be made pursuant to Section 5.

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        5.      Manner of Making Deferral Election. A Participant may elect to
defer Compensation pursuant to the Plan by filing, no later than December 31 of
each year (or by such other date as the Committee shall determine), an
irrevocable election with the Corporate Secretary on a form provided for that
purpose ("Deferral Election"). The Deferral Election shall be effective with
respect to Compensation payable on or after July 1 of the following year unless
the Participant shall revoke or change the election by means of a subsequent
Deferral Election in writing that takes effect on the date specified therein but
in no event earlier than six (6) months (or such other period as the Committee,
as defined in Section 17, shall determine) after the subsequent Deferral
Election is received by the Company. The Deferral Election form shall specify an
amount to be deferred expressed as a dollar amount or as a percentage of the
Participant's Compensation otherwise payable in cash for the director's
services.

        6.      Credits to Deferred Stock Account for Elective Deferrals. On the
first day of each calendar quarter (the "Credit Date"), a Participant shall
receive a credit to his or her Deferred Stock Account. The amount of the credit
shall be the number of shares of Common Stock (rounded to the nearest
one-hundredth of a share) determined by dividing an amount equal to 110% of the
Participant's Compensation payable on the Credit Date and specified for deferral
pursuant to Section 5 hereof, by the fair market value on the Credit Date of a
share of Common Stock.

        7.      Fair Market Value. The fair market value of shares of Common
Stock as of a given date for all purposes of the Plan, shall be the closing sale
price per share of Common Stock as reported on the consolidated tape of the New
York Stock Exchange on the relevant date or, if the New York Stock Exchange is
closed on such day, then the day closest to such date on which it was open.

        8.      Dividend Credit. Each time a dividend is paid on the Common
Stock, the Participant shall receive a credit to his or her Deferred Stock
Account equal to that number of shares of Common Stock (rounded to the nearest
one-hundredth of a share) having a fair market value on the dividend payment
date equal to the amount of the dividend payable on the number of shares
credited to the Participant's Deferred Stock Account on the dividend record
date.

        9.      Maximum Number of Shares to be Credited Under the Plan. Subject
to adjustment as provided in Section 10, the maximum number of shares of Common
Stock that may be credited under the Plan is 500,000 shares.

        10.     Adjustments for Certain Changes in Capitalization. If the
Company shall at any time increase or decrease the number of its outstanding
shares of Common Stock or change in any way the rights and privileges of such
shares by means of the payment of a stock dividend or any other distribution
upon such shares payable in Common Stock, or through a stock split, subdivision,
consolidation, combination, reclassification, or recapitalization involving the
Common Stock, then the numbers, rights, and privileges of the shares credited
under the Plan shall be increased,

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decreased, or changed in like manner as if such shares had been issued and
outstanding, fully paid, and nonassessable at the time of such occurrence.

        11.     Deferral Payment Election. At the time of making the Deferral
Election, each Participant shall also complete a deferral payment election
specifying one of the payment options described in Section 12 and 13, and the
year in which amounts credited to the Participant's Deferred Stock Account shall
be paid in a lump sum pursuant to Section 12, or in which installment payments
shall commence pursuant to Section 13. The Participant may change the deferral
payment election by means of a subsequent deferral payment election in writing
that will take effect (i) immediately upon receipt for deferrals credited after
the date the Company receives such subsequent deferral payment election and (ii)
at the beginning of the second calendar year following the date of the revised
deferral payment election for deferrals previously credited to the Participant's
Deferred Stock Account.

        12.     Payment of Deferred Stock Accounts in a Lump Sum. Unless a
Participant elects to receive payment of his or her Deferred Stock Account in
installments as described in Section 13, credits to a Participant's Deferred
Stock Account shall be payable in full on January 10 of the year following the
Participant's termination of service on the Board (or the first business day
thereafter) or such other date as elected by the Participant pursuant to Section
11. All payments shall be made in shares of Common Stock plus cash in lieu of
any fractional share. Notwithstanding the foregoing, in the event of a Change of
Control (as defined in Section 19), credits to a Participant's Deferred Stock
Account as of the business day immediately prior to the effective date of the
transaction constituting the Change of Control shall be paid in full to the
Participant or the Participant's beneficiary or estate, as the case may be, in
whole shares of Common Stock (together with cash in lieu of a fractional share)
on such date. Notwithstanding the foregoing, following a Participant's
termination of service on the Board, such Participant, or in the event of his or
her death, such Participant's surviving spouse or beneficiary, may elect to
receive all or a portion of the present value of his or her Deferred Stock
Account prior to the date such amount becomes due and payable, subject to
forfeiture of 10% of the amount to be received.

        13.     Payment of Deferred Stock Accounts in Installments. A
Participant may elect to have his or her Deferred Stock Account paid in annual
installments following termination of service as a director or at such other
time as elected by the Participant pursuant to Section 11. All payments shall be
made in shares of Common Stock plus cash in lieu of any fractional share. All
installment payments shall be made annually on January 10 of each year (or the
first business day thereafter). The amount of each installment payment shall be
computed as the number of shares credited to the Participant's Deferred Stock
Account on the Computation Date, multiplied by a fraction, the numerator of
which is one and the denominator of which is the total number of installments
elected (not to exceed fifteen) minus the number of installments previously
paid. Amounts paid prior to the final installment payment shall be rounded to
the nearest whole number of shares; the final installment payment shall be for
the whole number of shares then credited to the Participant's Deferred Stock
Account, together

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with cash in lieu of any fractional shares. Notwithstanding the foregoing,
following a Participant's termination of service on the Board, such Participant,
or in the event of his or her death, such Participant's surviving spouse or
beneficiary, may elect to receive all or a portion of the present value of his
or her Deferred Stock Account prior to the date such amount becomes due and
payable, subject to forfeiture of 10% of the amount to be received. Further
notwithstanding the foregoing, in the event of a Change of Control (as defined
in Section 19), credits to a Participant's Deferred Stock Account as of the
business day immediately prior to the effective date of the transaction
constituting the Change of Control shall be paid in full to the Participant or
the Participant's beneficiary or estate, as the case may be, in whole shares of
Common Stock (together with cash in lieu of a fractional share) on such date.

        14,     Death of Participant. If a Participant dies before receiving all
payments to which he or she is entitled under the Plan, payment shall be made in
accordance with the Participant's designation of a beneficiary on a form
provided for that purpose and delivered to and accepted by the Committee (as
hereinafter defined) or, in the absence of a valid designation or if the
designated beneficiary does not survive the Participant, to such Participant's
estate.

        15.     Nonassignability. No right to receive payments under the Plan
nor any shares of Common Stock credited to a Participant's Deferred Stock
Account shall be assignable or transferable by a Participant other than by will
or the laws of descent and distribution. The designation of a beneficiary by a
Participant pursuant to Section 14 does not constitute a transfer.

        16.     Participants Are General Creditors of the Company. Benefits due
under this Plan shall be funded out of the general funds of the Company. The
Participants and beneficiaries thereof shall be general, unsecured creditors of
the Company with respect to any payments to be made pursuant to the Plan and
shall not have any preferred interest by way of trust, escrow, lien or otherwise
in any specific assets of the Company. If the Company shall, in fact, elect to
set aside monies or other assets to meet its obligations hereunder (there being
no obligation to do so), whether in a grantor's trust or otherwise, the same
shall, nevertheless, be regarded as a part of the general assets of the company
subject to the claims of its general creditors, and neither any Participant nor
any beneficiary of any Participant shall have a legal, beneficial, or security
interest therein.

        17.     Administration. The Plan shall be administered by a committee
(the "Committee") of three or more individuals appointed by the Board to
administer the Plan. The members of the Committee must be members of, and shall
serve at the discretion of, the Board. The members of the Committee shall be
"disinterested persons" as defined in Rule 16b-3 under the Securities Exchange
Act of 1934, as amended (the "Act"), or any successor rule or definition adopted
by the Securities and Exchange Commission ("Rule 16b-3"), if, in the opinion of
counsel for the Company, the absence of "disinterested" administrators would
adversely impact the availability of the

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exemption from Section 16(b) of the Act provided by Rule 16b-3 for any
Participant's acquisition of Common Stock under the Plan.

        Subject to the provisions of the Plan, the Committee shall have sole and
complete authority to construe and interpret the Plan; to establish, amend and
rescind appropriate rules and regulations relating to the Plan; to administer
the Plan; and to take all such steps and make all such determinations in
connection with the Plan as it may deem necessary or advisable to carry out the
provisions and intent of the Plan. All determinations of the Committee shall be
made by a majority of its members, and its determinations shall be final and
conclusive for all purposes and upon all persons, including, but without
limitation, the Company, the Committee, the Participants and their respective
successors in interest.

        18.     Amendment and Termination. The Board may at any time terminate,
suspend, or amend this Plan; provided, however, that the provisions of Sections
2 and 3 may not be amended more than once in every six months other than to
comport with changes in the Internal Revenue Code, ERISA, or the rules
thereunder. No such action shall deprive any Participant of any benefits to
which he or she would have been entitled under the Plan if termination of the
Participant's service as a director had occurred on the day prior to the date
such action was taken, unless agreed to by the Participant.

        19.     Change of Control. "Change of Control" means any one of the
following events:

        (a)  the acquisition by any individual, entity or group (within the
meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934,
as amended (the "Exchange Act") (a "Person") of beneficial ownership (within the
meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of
either (i) the then outstanding shares of Common Stock (the "Outstanding Company
Common Stock") or (ii) the combined voting power of the then outstanding voting
securities of the Company entitled to vote generally in the election of
directors (the "Outstanding Company Voting Securities"); provided, however, that
for purposes of this subsection (a), the following acquisitions shall not
constitute a Change of Control: (i) any acquisition directly from the Company
(ii) any acquisition by the Company, (iii) any acquisition by any employee
benefit plan (or related trust) sponsored or maintained by the Company or any
corporation controlled by the Company or (iv) any acquisition by any corporation
pursuant to a transaction which complies with clauses (i), (ii) and (iii) of
subsection (c) hereof; or

        (b)  individuals who, as of the date hereof, constitute the Board
(the "Incumbent Board") cease for any reason to constitute at least a majority
of the Board; provided, however, that any individual becoming a director
subsequent to the date hereof whose election, or nomination for election by the
Company's shareholders, was approved by a vote of at least a majority of the
directors then constituting the Incumbent Board shall be considered as though
such individual were a member of the Incumbent Board, but excluding, for this
purpose, any such individual whose initial assumption of office occurs

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as a result of an actual or threatened election contest with respect to the
election or removal of directors or other actual or threatened solicitation of
proxies or consents by or on behalf of a Person other than the Board; or

        (c)  approval by the shareholders of the Company of a reorganization,
merger or consolidation or sale or other disposition of all or substantially all
of the assets of the Company (a "Business Combination"), in each case, unless,
following such Business Combination, (i) all or substantially all of the
individuals and entities who were the beneficial owners, respectively, of the
Outstanding Company Common Stock and Outstanding Company Voting Securities
immediately prior to such Business Combination beneficially own, directly or
indirectly, more than 60% of, respectively, the then outstanding shares of
common stock and the combined voting power of the then outstanding voting
securities entitled to vote generally in the election of directors, as the case
may be, of the corporation resulting from such Business Combination (including,
without limitation, a corporation which as a result of such transaction owns the
Company or all or substantially all of the Company's assets either directly or
through one or more subsidiaries) in substantially the same proportions as their
ownership, immediately prior to such Business Combination of the Outstanding
Company Common Stock and Outstanding Company Voting Securities, as the case may
be, (ii) no Person (excluding any employee benefit plan (or related trust) of
the Company or such corporation resulting from such Business Combination)
beneficially owns, directly or indirectly, 20% or more of, respectively, the
then outstanding shares of common stock of the corporation resulting from such
Business Combination or the combined voting power of the then outstanding voting
securities of such corporation except to the extent that such ownership existed
prior to the Business Combination and (iii) at least a majority of the members
of the Board of Directors of the corporation resulting from such Business
Combination were members of the Incumbent Board at the time of the execution of
the initial agreement, or of the action of the Board, providing for such
Business Combination; or

        (d)  approval by the stockholders of the Company of a complete
liquidation or dissolution of the Company.

        20.     Effective Date. The effective date of the Plan shall be the date
of approval of the Plan by the Company's stockholders.

Last Revised: 2/9/00

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