BUNGE LIMITED ANNUAL INCENTIVE PLAN
SECTION 1. ESTABLISHMENT AND PURPOSE
1.1 Establishment of the Plan . Bunge Limited, a company incorporated under the laws of
Bermuda (the “ Company ”), hereby establishes an annual incentive compensation plan to be known as the Bunge
Limited Annual Incentive Plan (the “ Plan ”). The Plan permits the awarding of annual cash bonuses to
Employees (as defined below), based on the achievement of performance goals that are pre-established by the
Board of Directors of the Company (the “ Board ”) or by the Committee (as defined below).
Upon approval by the Board, subject to approval by the shareholders of the Company at the
2005 annual general meeting of shareholders, the Plan shall become effective as of January 1, 2005 and continue
until December 31, 2010, unless terminated earlier as set forth in Section 10.
1.2 Purpose . The purposes of the Plan are to (i) provide greater motivation for certain
employees of the Company and its Subsidiaries (as defined below) to attain and maintain the highest standards of
performance, (ii) attract and retain employees of outstanding competence and (iii) direct the energies of
employees towards the achievement of specific business goals established for the Company and its Subsidiaries.
The purposes of the Plan shall be carried out by the payment to Participants (as defined below)
of annual incentive cash awards, subject to the terms and conditions of the Plan. The Plan also is intended to
secure the full deductibility of incentive awards payable to Participants where and when relevant. All
compensation payable under this Plan to its Participants is intended to be deductible by the Company under
Section 162(m) of the Code (as defined below).
SECTION 2. DEFINITIONS
As used in the Plan, the following terms shall have the meanings set forth below (unless otherwise