Del Monte Foods Company Annual Incentive Plan for Executive Officers (Fiscal 2005)

Summary

This agreement outlines Del Monte Foods Company's Annual Incentive Plan for certain executive officers for fiscal year 2005. It specifies the targeted bonus percentages, the weighting of corporate, business unit, and individual objectives, and the possible payout range for each executive. The plan sets a maximum payout of $2,000,000 or 200% of the executive's fiscal year earnings, whichever is less, based on performance against set objectives as approved by the Compensation Committee.

EX-10.3 4 f02042exv10w3.htm ANNUAL INCENTIVE PLAN exv10w3

Exhibit 10.3

Del Monte Foods Company Annual Incentive Plan

Fiscal 2005 Targeted Percentage and Weighting of Objectives for Certain Executive Officers as Approved by the Compensation Committee on September 22, 2004


				Weighting of Objectives

										Individual
	Targeted Percentage									Objectives/
	of Fiscal Year			Corporate Financial			Business Unit			Management By			Possible Range of
Name	Earnings			Objectives			Objectives			Objectives (MBOs)			Score (1)

Richard G. Wolford		110.00	%		75	%		—			25	%	0-200% of target
David L. Meyers		70.00	%		75	%		—			25	%	0-200% of target
Nils Lommerin		70.00	%		60	%		—			40	%	0-200% of target
Todd R. Lachman		70.00	%		60	%		—			40	%	0-200% of target
Marc D. Haberman		62.50	%		50	%		10	%		40	%	0-200% of target

(1)

Possible range of scoring for each component (Corporate Financial Objectives, Business Unit Objectives, Individual Objectives / Management By Objectives (MBOs)).
Note: the maximum amount payable to any participant for any Plan Year under the Plan is $2,000,000 or 200% of such participant’s Fiscal Year Earnings, whichever is less.