DEL MONTE FOODS CO - FORM 8-K - EX-10.17 - LETTER AGREEMENT, BETWEEN BLUE ACQUISITION GROUP, INC. AND NEIL HARRISON - March 10, 2011

Attached files

file filename
8-K - FORM 8-K - DEL MONTE FOODS COd8k.htm
EX-3.2 - AMENDED AND RESTATED BY-LAWS - DEL MONTE FOODS COdex32.htm
EX-3.1 - RESTATED CERTIFICATE OF INCORPORATION - DEL MONTE FOODS COdex31.htm
EX-10.1 - CREDIT AGREEMENT, JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT - DEL MONTE FOODS COdex101.htm
EX-10.8 - PLEDGE AGREEMENT, BANK OF AMERICA, N.A., AS COLLATERAL AGENT - DEL MONTE FOODS COdex108.htm
EX-10.6 - GUARANTEE, IN FAVOR OF BANK OF AMERICA, N.A., AS COLLATERAL AGENT - DEL MONTE FOODS COdex106.htm
EX-10.4 - PLEDGE AGREEMENT, JPMORGAN CHASE BANK, N.A., AS COLLATERAL AGENT - DEL MONTE FOODS COdex104.htm
EX-10.3 - SECURITY AGREEMENT, JPMORGAN CHASE BANK, N.A., AS COLLATERAL AGENT - DEL MONTE FOODS COdex103.htm
EX-10.2 - GUARANTEE, JPMORGAN CHASE BANK, N.A., AS COLLATERAL AGENT - DEL MONTE FOODS COdex102.htm
EX-10.9 - PURCHASE AGREEMENT - DEL MONTE FOODS COdex109.htm
EX-10.5 - CREDIT AGREEMENT, BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT - DEL MONTE FOODS COdex105.htm
EX-10.13 - FIRST SUPPLEMENTAL INDENTURE, TO THE INDENTURE - DEL MONTE FOODS COdex1013.htm
EX-10.14 - SECOND SUPPLEMENTAL INDENTURE, TO THE INDENTURE - DEL MONTE FOODS COdex1014.htm
EX-10.16 - INDEMNIFICATION AGREEMENT - DEL MONTE FOODS COdex1016.htm
EX-10.19 - EMPLOYMENT AGREEMENT, BETWEEN DEL MONTE CORPORATION AND DAVID W. ALLEN - DEL MONTE FOODS COdex1019.htm
EX-10.18 - EMPLOYMENT AGREEMENT, BETWEEN DEL MONTE CORPORATION AND LARRY E. BODNER - DEL MONTE FOODS COdex1018.htm
EX-10.10 - INDENTURE, DATED OF FEBRUARY 16, 2011 - DEL MONTE FOODS COdex1010.htm
EX-10.15 - MONITORING AGREEMENT - DEL MONTE FOODS COdex1015.htm
EX-10.20 - LETTER AGREEMENT, BETWEEN BLUE ACQUISITION GROUP, INC. AND TIMOTHY A. COLE - DEL MONTE FOODS COdex1020.htm
EX-10.11 - REGISTRATION RIGHTS AGREEMENT - DEL MONTE FOODS COdex1011.htm
EX-10.12 - SECOND SUPPLEMENTAL INDENTURE, TO THE INDENTURE - DEL MONTE FOODS COdex1012.htm
EX-10.7 - SECURITY AGREEMENT, BANK OF AMERICA, N.A., AS COLLATERAL AGENT - DEL MONTE FOODS COdex107.htm

Exhibit 10.17

Blue Acquisition Group, Inc.

c/o Kohlberg Kravis Roberts & Co. L.P.

9 W. 57th St., Suite 4200

New York, New York 10019

March 8, 2011

Mr. Neil Harrison

Vestar Capital Partners

245 Park Avenue

New York, NY 10167

Dear Neil:

We are delighted you have agreed to join the Del Monte Foods Company (the “Company”) as its interim Chief Executive Officer (“CEO”) immediately following the consummation of the expected acquisition of the Company by Blue Acquisition Group, Inc. (“Parent”).

We and you agree that you will serve as the interim CEO of Parent, the Company and Del Monte Corporation for so long as you and the board of directors of Parent mutually agree, but that it is anticipated that you will serve as interim CEO for up to six months. For your services rendered hereunder, the Company will pay you a salary of One-Hundred Thousand Dollars ($100,000) per month, pursuant to the normal payroll practices of the Company. In connection with your performance of services hereunder, the Company shall also directly pay or shall fully reimburse you for all customary and reasonable expenses incurred by you in order to perform your duties as the interim CEO, including expenses for travel, lodging, and other related expenses. As an officer and member of the board of directors of Parent, the Company and Del Monte Corporation (such membership on the board of directors of Parent, the Company and Del Monte Corporation to continue to the extent you remain a designee of the Vestar funds), you shall also be covered by director and officers’ insurance to the same extent as other officers of the Company and Del Monte Corporation, and you will be eligible for all other perquisites and benefits that senior executives of the Company and Del Monte Corporation enjoy.

We and you acknowledge that the provisions of this letter agreement shall be null and void and of no further effect if the closing of the acquisition of the Company by Parent does not occur. This Letter Agreement shall be governed by and construed in accordance with the laws of New York without regard to principles of conflicts of law.

Neil, we appreciate your willingness to serve as the interim CEO of Parent, the Company and Del Monte Corporation and look forward to working with you.

 

Very truly yours,
Blue Acquisition Group, Inc.
By:  

    /s/ Simon Brown

Name:  Simon Brown
Title:  President and Chief Executive Officer

DEL MONTE FOODS CO Reports