First Amendment to Employment Agreement between Del Monte Foods Company and Wesley J. Smith

Summary

This amendment updates the employment agreement between Del Monte Foods Company and Wesley J. Smith, effective July 1, 1999. It increases Mr. Smith's base salary from $400,000 to $425,000 and raises his bonus percentage from 50% to 60%. All other terms of the original agreement remain unchanged.

EX-10.48 24 f84647exv10w48.txt EXHIBIT 10.48 EXHIBIT 10.48 First Amendment to Employment Agreement First Amendment, dated as of July 1, 1999, to the Employment Agreement, dated March 16, 1998, among Del Monte Foods Company and Wesley J. Smith (the "Agreement"). The Agreement is hereby amended as follows: 1. The amount "$425,000" is substituted for the amount "$400,000" in the first sentence of Section 2(a). 2. The percentage "60%" is substituted for the percentage "50%" in Section 2(b). All other provisions of the Agreement remain in full force and effect. IN WITNESS WHEREOF, the parties have executed this First Amendment as of the date first written above. DEL MONTE FOODS COMPANY By: /s/ MARK J. BUXTON -------------------------------- Name: Mark J. Buxton Title: Vice President, Corporate Human Resources /s/ WESLEY J. SMITH -------------------------------- Wesley J. Smith