Employment Agreement - Paul Moskowitz

Exhibit 10.3

May 3, 2007

Mr. Paul Moskowitz
3709 Lake Hollow Way
Plano TX 75093

Dear Paul:

I am very pleased to offer you the position of Executive Vice President/Human Resources, reporting directly to me. I look forward to having you join our executive team as soon as possible.

Here are the specifics of your offer:

Base Salary

You will be paid (on a bi-weekly basis) an annual salary of $390,000. Your salary will be reviewed annually.

Signing Bonus

You will receive a signing bonus of $115,000.00, less payroll taxes, to be paid within thirty (30) days following commencement of employment.

Annual Bonus Opportunity

You will be eligible to earn an annual bonus with a target amount equal to 60% of your annualized salary, subject to Dean Foods’ achievement of certain operating targets and satisfaction of to-be-determined personal objectives. You can earn up to 200% of your targeted bonus if such targets are exceeded. Annual bonuses are typically paid in mid February based on results of the preceding calendar year. Your bonus for 2007 will be prorated, based on your start date, and will be guaranteed to be paid at no less than target.

Long-Term Incentive Awards

You will be granted options to purchase 45,000 shares of Dean Foods common stock. The exercise price of the options will be the closing price of a share of Dean Foods stock on the date of grant by our Board of Directors. The options will vest in equal installments over a period of three (3) years, beginning on the date of the grant. You

Mr. Paul Moskowitz
May 3, 2007
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will also be awarded 15,000 restricted shares that will vest in equal installments over a five-year period, or earlier if certain stock price performance targets are met. You will be eligible for future equity grants under the Dean Foods Long-Term Incentive Program in the future, commencing in February 2008. The amount and nature of future long-term incentive awards will be determined by the Board of Directors.

Additional “Sign On” Long-Term Incentive Awards

On commencement of employment, you will also be awarded options to purchase 21,500 shares of Dean Foods stock with an exercise price per share equal to the closing price of Dean Foods stock on the date of grant. Such options will vest over a three-year period commencing on the date of grant.

Management Deferred Compensation Plan

You will be eligible to participate in the Deferred Compensation Plan. The plan provides eligible executives with the opportunity to save on a tax-deferred basis. You will receive general information and enrollment materials at your home address approximately 30 — 45 days after your start date.

Vacation Benefits

You will be granted five (5) weeks vacation. Unused vacation is not carried forward from year to year.

COBRA Support

Should you elect COBRA (health insurance) coverage from your previous employer, Dean Foods will pay your COBRA premiums (minus your normal Dean Foods contribution) until you become eligible for Dean Foods benefits (approximately 60 days following hire).

Benefits Plan Reference

Attached to this letter is an overview of Dean Foods’ Health Benefits, savings and 401k programs, and other benefits. If you have questions regarding these programs or eligibility, please call Robby Dunn at ###-###-####.

Severance

You will be entitled to participate in our Executive Severance Pay Plan. Under this Plan, if your employment is terminated at any time as a result of a “qualifying termination,” meaning your voluntary termination for Good Reason, or your involuntary termination without Cause (as defined in the Executive Severance Pay Plan), you will receive a lump sum severance payment equivalent to 2 times your annual base salary and target bonus, less lawful deductions in accordance with the Company’s Executive Severance Pay Plan. You will also receive a lump sum cash payment for the “in the money” value of all equity awards that would vest over the 24 months following the date of termination in accordance with the terms of the Executive Severance Pay Plan.

Mr. Paul Moskowitz
May 3, 2007
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Non Qualifying Termination

In the event that your employment with Dean Foods is terminated either for Cause or by you voluntarily and without Good Reason, no severance payment will be made. If your employment is terminated either for Cause or by you voluntarily and without Good Reason, all unvested stock option and other equity grants made to you and your rights thereunder will be automatically terminated.

Change In Control Provisions

You will be provided a Change in Control agreement comparable to that currently provided to other Dean Foods executive officers. In general, this agreement provides benefits of three times your annual salary and target bonus, plus vesting of all equity awards and continued health coverage for a two-year period in certain circumstances following a Change in Control of Dean Foods. As stated in the Change in Control Agreement, in order to receive these benefits, your employment must be terminated, either by the Company within two years after a Change in Control, or by you for good reason within such two-year period. The details of these provisions will be set forth more fully in the Change in Control Agreement.

New Hire Processes

You are required to comply with the Dean Foods Code of Ethics as a condition of employment. You are required to sign the Compliance Certificate contained within the Code of Ethics at the time your employment begins and periodically thereafter. Your position also requires that you sign a Non-Competition Agreement.

Conclusion

Paul, I am delighted at the prospect of you joining our team. I look forward to working with you and am confident that you will make many significant and lasting contributions to our organization.

Best regards,

/s/ Gregg L. Engles

Agreed and accepted:

/s/ Paul Moskowitz

May 3, 2007