Benefits

At Del Monte Foods, our employee benefits are designed to provide employees the flexibility to select a package of coverage that meets their unique needs. Benefits are available to employees and their dependents, including children, spouses and domestic partners and are generally effective on an employee's date of hire.

Medical

Medical Plan coverage is provided through a preferred provider option (PPO) with Blue Cross. Depending upon your location, you can choose between the PPO and various HMO's. You and the Company share the cost of this benefit. Your contributions are before-tax contributions.

Dental

A comprehensive Dental Plan coverage is provided through Delta Dental. For California residents, a dental HMO is available as an alternative dental coverage. You and the Company share the cost of this benefit. Your contributions are before-tax contributions.

Vision

Vision coverage is available through Vision Service Plan (VSP). You must elect Medical Plan coverage to be eligible. The Company pays the entire cost of this benefit.

Short Term Disability

You are covered for salary continuation in the event of illness or injury. It replaces 100% of your base pay or two-thirds of your base pay, depending upon your years of service, for up to 26 consecutive weeks. The Company pays the entire cost of this benefit.

Long Term Disability

You are covered for 60% of your base pay after 26 weeks of total disability. The Company pays the entire cost of this benefit.

Core Life Insurance

Two options are offered under Core Life Insurance coverage. The Company pays the entire cost of the option elected.

Optional Life Insurance

You can elect additional life insurance coverage of one, two or three times your base pay up to a maximum of $1,800,000. Coverage for your eligible dependents is also available under a number of options ranging from $2,000 per child and/or $10,000 for your spouse/domestic partner to $4,000 per child and/or $20,000 for your spouse/domestic partner. You pay for this benefit with after-tax contributions.

AD&D Insurance

You can elect Accidental Death and Dismemberment Insurance for yourself in the amount of one to five times your base pay up to a maximum of $500,000. AD&D coverage is also available for eligible dependents. Coverage options for your spouse/domestic partner range from one to five times your base pay up to a maximum of $500,000; dependent children can be covered at 15% of the employee coverage amount. You pay for this benefit with after-tax contributions.

BTA Insurance

Business Travel Accident Insurance covers you for five times your base pay up to a maximum of $2,500,000 while you are traveling on Company authorized business. The Company pays the entire cost of this benefit.

Spending Accounts

You can elect to contribute before-tax dollars to the Health Care Spending Account up to an annual maximum of $5,000 and/or to the Dependent Care Spending Account to an annual maximum of $5,000.

Savings Plans

You can contribute as much as 20% of your base pay to this plan. As much as 20% of base pay may be before-tax (this percentage may be lower for certain employees). The Company provides a matching contribution equal to 50% of the amount you contribute on a before-tax basis up to the first 6% of your base pay. You vest in the Company matching contributions after two years of service. You can direct the investment of both your contributions and the Company matching contributions among a variety of investment alternatives. To become eligible to contribute to this plan, you must complete one year of service.

Pension Benefit

Salaried Employees: The Company contributes toward this cash-balance pension plan which is credited monthly with a combination of compensation credits and interest credits. Compensation credits are based on an age-based schedule and a percentage of eligible pay.

Non-Union Hourly Employees: The Company provides a contribution based on age and a percentage of eligible pay to the Retirement Savings Contribution Account.

Vacation

You are eligible to accrue vacation each year based upon your years of service. Vacation accrues monthly.

Holidays

Certain days during the year are generally recognized as paid holidays. Holidays vary from location to location and can vary from year to year. In some locations, a number of these days are designated as floating holidays to be taken at the employee's discretion.

Employee Assistance Program

The Employee Assistance Program (EAP) is a professional service that offers free confidential counseling, information and support for professional and/or personal issues. This service is available 24 hours a day, 7 days a week. The Company pays the entire cost of this benefit.

Transportation Reimbursement Program

Employees located in San Francisco, California, Walnut Creek, California, Pittsburgh, Pennsylvania and sales offices in specific cities are eligible to participate in this program.

Participation in this program allows you to save on your transportation costs by contributing pre-tax dollars up to the limit allowed by the IRS to cover either transit costs (includes metro, bus, ferry, railroad passes and commuter vanpool expenses) or parking expenses.