Del Monte Foods Company Annual Incentive Plan Fiscal 2007 Target Percentages and Objective Weightings for Named Executive Officers

Summary

This document outlines the annual incentive plan for Del Monte Foods Company's named executive officers for fiscal year 2007. It specifies the targeted bonus percentages of fiscal year earnings for each executive and the weighting of corporate financial objectives versus individual management objectives (MBOs) used to determine payouts. The plan allows for a possible payout range of 0-200% of the target, with a maximum cap of $2,000,000 or 200% of fiscal year earnings, whichever is less. The Compensation Committee approved these targets and weightings.

EX-10.2 3 f23909exv10w2.htm EXHIBIT 10.2 exv10w2

Exhibit 10.2

Del Monte Foods Company Annual Incentive Plan

Fiscal 2007 Targeted Percentage and Weighting of Objectives for Named Executive Officers
as Approved by the Compensation Committee of the Board of Directors
of Del Monte Foods Company


		Weighting of Objectives (1)
		Corporate			Business	Individual Objectives/
	Targeted Percentage of	Financial			Unit	Management By			Possible Range
Name	Fiscal Year Earnings	Objectives			Objectives	Objectives (MBOs)			of Score (2)

Richard G. Wolford	110.00% (3)		75	%	-		25	%	0-200% of target

David L. Meyers	70.00% (3)		75	%	-		25	%	0-200% of target

Timothy A. Cole	70.00% (4)		75	%	-		25	%	0-200% of target

Nils Lommerin	70.00% (3)		75	%	-		25	%	0-200% of target


(1)		The relative 75%/25% weighting of Corporate Financial Objectives to Individual Objectives / Management By Objectives (MBOs) established for fiscal 2007 is the same as the relative weighting of Corporate Financial Objectives to Individual Objectives / Management By Objectives (MBOs) established for fiscal 2006.

(2)		Possible range of scoring for each component (Corporate Financial Objectives, Business Unit Objectives, Individual Objectives / Management By Objectives (MBOs)). The 0-200% possible range of scoring established for fiscal 2007 is the same as the 0-200% possible range of scoring established for fiscal 2006. 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.

(3)		Targeted Percentage of Fiscal Year Earnings established for fiscal 2007 is the same as the Targeted Percentage of Fiscal Year Earnings established for fiscal 2006.

(4)		Targeted Percentage of Fiscal Year Earnings established for fiscal 2007, as approved by the Compensation Committee on September 21, 2006, is higher than the Targeted Percentage of Fiscal Year Earnings established for fiscal 2006.