Document:

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                                                                   EXHIBIT 10.17

                            INDEMNIFICATION AGREEMENT

      This INDEMNIFICATION AGREEMENT, made and entered into this ___ day of
_____, ____ ("Agreement"), by and between Centennial Specialty Foods
Corporation, a Delaware corporation (the "Company") and ___________________
("Indemnitee").

      WHEREAS, highly competent persons are becoming more reluctant to serve
corporations as directors or in other capacities unless they are provided with
adequate protection through insurance or adequate indemnification against
inordinate risks of claims and actions against them arising out of their service
to and activities on behalf of the corporation, and

      WHEREAS, the Board of Directors of the Company has determined that the
inability to attract and retain such persons is detrimental to the best
interests of the Company's stockholders and that the Company should act to
assure such persons that there will be increased certainty of such protection in
the future; and

      WHEREAS, it is reasonable, prudent and necessary for the Company
contractually to obligate itself to indemnify such persons to the fullest extent
permitted by applicable law so that they will serve or continue to serve the
Company free from undue concern that they will not be so indemnified; and

      WHEREAS, Indemnitee is willing to serve, continue to serve and to take on
additional service for or on behalf of the Company on the condition that
Indemnitee be so indemnified;

      NOW, THEREFORE, in consideration of the promises, conditions,
representations and warranties set forth herein, including Indemnitee's
continued service to the Company, the Company and Indemnitee hereby covenant and
agree as follows:

                                    ARTICLE I
                                   DEFINITIONS

      For purposes of this Agreement, the following terms shall have the meaning
given here:

      1.01  "Board" shall mean the Board of Directors of the Company.

      1.02  "Corporate Status" describes the status of a person who is or was a
director, officer, employee, agent or fiduciary of the Company or of any other
corporation, partnership, joint venture, trust, employee benefit or other
enterprise which such person is or was serving at the express written request of
the Company.

      1.03  "Covered Act" means any breach of duty, neglect, error,
misstatement, misleading statement, omission or other act done or wrongfully
attempted by Indemnitee or against any of the foregoing alleged by any claimant
or any claim against Indemnitee solely by reason of being a director or officer
of the Company.

      1.04  "D&O Insurance" means any directors' and officers' liability
insurance issued by an insurer(s), and having the policy number(s), amount(s)and
deductible(s) set forth within such policy and any replacement or substitute
policies issued by one or more reputable insurers providing in any respects such
coverage.
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      1.05  "Determination" means a determination, based on the facts known at
the time, made by:

            (a)   A majority vote of a quorum of disinterested directors; or

            (b)   Independent Counsel in a written opinion prepared at the
      request of a majority of a quorum of Disinterested Directors; or

            (c)   A majority of the disinterested stockholders of the Company;
      or

            (d)   A final adjudication by a court of competent jurisdiction.

      "Determined" shall have a correlative meaning.

      1.06  "Disinterested Director" means a director of the Company who is not
and was not a party to the Proceeding in respect of which indemnification is
sought by Indemnitee.

      1.07  "Effective Date" means March 1, 2003.

      1.08  "Excluded Claim" means any payment for Losses or Expenses in
connection with any claim:

            (a)   Based upon or attributable to Indemnitee gaining in fact any
      personal profit or advantage to which Indemnitee is not entitled; or

            (b)   For the return by Indemnitee of any remuneration paid to
      Indemnitee without the previous approval of the stockholders of the
      Company which is illegal; or

            (c)   For an accounting of profits in fact made from the purchase or
      sale by Indemnitee of securities of the Company within the meaning of
      Section 16 of the Securities Exchange Act of 1934, as amended, or similar
      provisions of any state law; or

            (d)   Resulting from Indemnitee's knowingly fraudulent, dishonest or
      willful misconduct; or

            (e)   The payment of which by the Company under this Agreement is
      not permitted by applicable law.

      1.09  "Expenses" shall include all reasonable attorneys fees, retainers,
court costs, transcript costs, fees of experts, witness fees, travel expenses,
duplicating costs, printing and binding costs, telephone charges, postage,
delivery service fees, and all other disbursements or expenses of the types
customarily incurred in connection with prosecuting, defending, preparing to
prosecute or defend, investigating, or being or preparing to be a witness in a
Proceeding, but shall not include Fines.

      1.10  "Fines" mean any fine, penalty or, with respect to an employee
benefit plan, any excise tax or penalty assessed with respect thereto.

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      1.11  "Good Faith" shall mean Indemnitee having acted in good faith and in
a manner Indemnitee reasonably believed to be in or not opposed to the best
interests of the Company and, with respect to any criminal Proceeding, having
had no reasonable cause to believe Indemnitee's conduct was unlawful.

      1.12  "Independent Counsel" means a law firm, or a member of a law firm,
that is experienced in matters of corporation law and neither presently is, nor
in the past three years has been, retained to represent (i) the Company or
Indemnitee in any matter material to either such party or (ii) any other party
to the Proceeding giving rise to a claim for indemnification hereunder.
Notwithstanding the foregoing the term "Independent Counsel" shall not include
any person who, under the applicable standards of professional conduct then
prevailing, would have a conflict of interest in representing either the Company
or Indemnitee in an action to determine Indemnitee's rights under this
Agreement.

      1.13  "Loss" means any amount which Indemnitee is legally obligated to pay
as a result of a claim or claims made against him for Covered Acts including,
without limitation, damages and judgments and sums paid in settlement of a claim
or claims, but shall not include Fines.

      1.14  "Proceeding" includes any action, suit, arbitration, alternate
dispute resolution mechanism, investigation, administrative hearing or any other
actual threatened or completed proceeding whether civil, criminal,
administrative or investigative, other than one initiated by Indemnitee. For
purposes of the foregoing sentence, a "Proceeding" shall not be deemed to have
been initiated by Indemnitee where Indemnitee seeks pursuant to Article IX of
this Agreement to enforce Indemnitee's rights under this Agreement relating
thereto.

                                   ARTICLE II
                             SERVICES BY INDEMNITEE

      Indemnitee agrees to serve as an officer and director of the Company.
Indemnitee may at any time and for any reason resign from such positions,
subject to any other contractual obligation or any obligation imposed by
operation of law.

                                   ARTICLE III
                          MAINTENANCE OF D&O INSURANCE

      3.01  Description of D&O Insurance. The Company intends to obtain, and
will use its best efforts to do so, a directors' and officers' liability
insurance policy, the premiums for which will be paid by the Company.

      3.02  Named Insured. In any policies of D&O Insurance which are maintained
by the Company, Indemnitee shall be named as an insured in such a manner as to
provide Indemnitee the same rights and benefits, subject to the same
limitations, as are accorded to the Company's directors and officers most
favorably insured by such policy.

      3.03  No Obligation. Nothing herein shall impose upon the Company the
obligation to maintain D&O Insurance if the Company determines in good faith
that such insurance is not reasonably available, the premium costs for such
insurance are disproportionate to the amount of coverage provided, or the
coverage provided by such insurance is limited by exclusions so as to provide an
insufficient benefit.

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                                   ARTICLE IV
                                 INDEMNIFICATION

      4.01  Indemnification in General. The Company shall indemnify and hold
Indemnitee harmless for any Losses, Expenses, judgments, penalties, Fines and
amounts paid in settlement actually and reasonably incurred by Indemnitee or on
Indemnitee's behalf in connection with such Proceeding or any claim, issue or
matter therein, if Indemnitee acted in Good Faith.

      4.02  Excluded Coverage. The Company shall have no obligation to indemnify
and hold Indemnitee harmless from any Losses or Expense which has been
Determined to constitute an Excluded Claim. Notwithstanding the provisions of
Section 4.01, no such indemnification shall be made in respect of any claim,
issue or matter in such Proceeding as to which Indemnitee shall have been
adjudged to be liable to the Company if applicable law prohibits such
indemnification; provided, however, that, if applicable law so permits,
indemnification shall nevertheless be made by the Company in such event if and
only to the extent that the Court of Chancery of the State of Delaware, or the
court in which such Proceeding shall have been brought or pending, shall
Determine.

      4.03  Indemnification of a Party Who Is Wholly or Partly Successful.
Notwithstanding any other provision of this Agreement, to the extent that
Indemnitee is, by reason of Indemnitee's Corporate Status, a party to and is
successful, on the merits or otherwise, in any Proceeding, Indemnitee shall be
indemnified to the maximum extent permitted by law, against all Losses,
Expenses, judgments, penalties, Fines and amounts paid in settlement, actually
and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection
therewith. If Indemnitee is not wholly successful in such Proceeding but is
successful, on the merits or otherwise, as to one or more but less than all
claims, issues or matters in such Proceeding, the Company shall indemnify
Indemnitee to the maximum extent permitted by law, against all Losses, Expenses,
judgments, penalties, Fines and amounts paid in settlement, actually and
reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with
each successfully resolved claim, issue or matter. For purposes this Section
4.03 and without limitation, the termination of any claim, issue or matter in
such a Proceeding by dismissal, with or without prejudice, shall be deemed to be
a successful result as to such claim, issue or matter, so long as there has been
no finding (either adjudicated or pursuant to Article VI) Indemnitee did not act
in Good Faith.

      4.04  Indemnification For Expenses of a Witness. Notwithstanding any other
provision of this Agreement to the extent that Indemnitee is, by reason of
Indemnitee's Corporate Status, a witness in a Proceeding, Indemnitee shall be
indemnified against all Losses and Expenses actually and reasonably incurred by
Indemnitee or on Indemnitee's behalf in connection therewith.

                                    ARTICLE V
                             ADVANCEMENT OF EXPENSES

      Notwithstanding any provision to the contrary in Article VI, the Company
shall advance all reasonable Expenses which, by reason of Indemnitee's Corporate
Status, are incurred by or on behalf of Indemnitee in connection with any
Proceeding, within twenty (20) days after the receipt by the Company of a
statement or statements from Indemnitee requesting such advance or advances,
whether prior to or after final disposition of such Proceeding. Such statement
or statements shall reasonably evidence the Expenses incurred by Indemnitee and
shall include or be preceded or

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accompanied by an undertaking by or on behalf of Indemnitee to repay any
Expenses if it shall ultimately be determined that Indemnitee is not entitled to
be indemnified against such Expenses. Such statements may be redacted to the
extent necessary to preserve attorney-client confidentiality, work product or
other applicable privileges, if any. Any advance and undertakings to repay
pursuant to this Article V shall be unsecured and interest free.

                                   ARTICLE VI
                   PROCEDURES FOR DETERMINATION OF ENTITLEMENT

      6.01  Initial Notice. Promptly after receipt by Indemnitee of notice of
the commencement of or the threat of commencement of any Proceeding, Indemnitee
shall, if indemnification with respect thereto may be sought from the Company
under this Agreement, notify the Company of the commencement thereof. Indemnitee
shall include therein or therewith such documentation and information as is
reasonably available to Indemnitee and is reasonably necessary to determine
whether and to what extent Indemnitee is entitled to indemnification. The
Secretary of the Company shall promptly advise the Board in writing that
Indemnitee has requested indemnification.

      6.02  D&O Insurance. If, at the time of the receipt of such notice the
Company has D&O Insurance in effect, the Company shall give prompt notice of the
commencement of such Proceeding to the insurers in accordance with the
procedures set forth in the respective policies in favor of Indemnitee. The
Company shall thereafter take all necessary or desirable action to cause such
insurers to pay, on behalf of Indemnitee, all Losses and Expenses payable as a
result of such Proceeding in accordance with the terms of such policies.

      6.03  Employment of Counsel. To the extent the Company does not, at the
time of the commencement of or the threat of commencement of a Proceeding, have
applicable D&O Insurance, or if a Determination is made that any Expenses
arising out of such Proceeding will not be payable under the D&O Insurance then
in effect, the Company shall be obligated to pay the Expenses of any such
Proceeding in advance of the final disposition thereof as provided in Article V
and the Company, if appropriate, shall be entitled to assume the defense of such
Proceeding, with counsel satisfactory to Indemnitee, upon the delivery to
Indemnitee of written notice of its election so to do. After delivery of such
notice, the Company will not be liable to Indemnitee under this Agreement for
any legal or other Expenses subsequently incurred by Indemnitee in connection
with such defense other than reasonable Expenses of investigation provided that
Indemnitee shall have the right to employ its counsel in any such Proceeding but
the fees and expenses of such counsel incurred after delivery of notice from the
Company of its assumption of such defense shall be at Indemnitee's expense and
provided further that if (i) the employment of counsel by Indemnitee has been
previously authorized by the Company, (ii) Indemnitee shall have reasonably
concluded that there may be a conflict of interest between the Company and
Indemnitee in the conduct of any such defense or (iii) the Company shall not, in
fact, have employed counsel to assume the defense of such Proceeding, the fees
and expenses of counsel shall be at the expense of the Company.

      6.04  Payment. All payments on account of the Company's indemnification
obligations under this Agreement shall be made within sixty (60) days of
Indemnitee's written request therefor unless a Determination is made that the
claims giving rise to Indemnitee's request are Excluded Claims or otherwise not
payable under this Agreement or applicable law.

      6.05  Reimbursement by Indemnitee. Indemnitee agrees that he will
reimburse the Company for all Losses and Expenses paid by the Company in
connection with any Proceeding

                                       5
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against Indemnitee in the event and only to the extent that a Determination
shall have been made by a court in a final adjudication from which there is no
further right of appeal that Indemnitee is not entitled to be indemnified by the
Company for such Expenses because the claim is an Excluded Claim or because
Indemnitee is otherwise not entitled to payment under this Agreement.

      6.06  Cooperation. Indemnitee shall cooperate with the person, persons or
entity making the Determination with respect to Indemnitee's entitlement to
indemnification under this Agreement, including providing to such person,
persons or entity upon reasonable advance request any documentation or
information which is not privileged or otherwise protected from disclosure and
which is reasonably available to Indemnitee and reasonably necessary to such
Determination. Any costs or Expenses (including attorneys' fees and
disbursements) incurred by Indemnitee in so cooperating with the person, persons
or entity making such Determination shall be borne by the Company (irrespective
of the determination as to Indemnitee's entitlement to indemnification) and the
Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom.

                                   ARTICLE VII
                                   SETTLEMENT

      The Company shall have no obligation to indemnify Indemnitee under this
Agreement for any amounts paid in settlement of any Proceeding effected without
the Company's prior written consent. The Company shall not settle any claim in
any manner which would impose any Fine or other obligation on Indemnitee without
Indemnitee's written consent. Neither the Company nor Indemnitee shall
unreasonably withhold their consent to any proposed settlement.

                                  ARTICLE VIII
                              RIGHTS NOT EXCLUSIVE

      The rights provided hereunder shall not be deemed exclusive of any other
rights to which Indemnitee may be entitled under any bylaw, agreement, vote of
stockholders or of Disinterested Directors or otherwise, both as to action in
his official capacity and as to action in any other capacity by holding such
office, and shall continue after Indemnitee ceases to serve the Corporation as a
director or officer.

                                   ARTICLE IX
                                   ENFORCEMENT

      9.01  Burden of Proof. Indemnitee's right to indemnification shall be
enforceable by Indemnitee only in the state courts of the State of Delaware and
shall be enforceable notwithstanding any adverse Determination. In any such
action, if a prior adverse Determination has been made, the burden of proving
that indemnification is required under this Agreement shall be on Indemnitee.
The Company shall have the burden of proving that indemnification is not
required under this Agreement if no prior adverse Determination shall have been
made.

      9.02  Costs And Expenses. In the event that any action is instituted by
Indemnitee under this Agreement, or to enforce or interpret any of the terms of
this Agreement, Indemnitee shall be entitled to be paid all court costs and
expenses, including reasonable counsel fees, incurred by Indemnitee with respect
to such action, unless the court determines that each of the material assertions
made by Indemnitee as a basis for such action were not made in Good Faith or
were frivolous.

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                                    ARTICLE X
                               GENERAL PROVISIONS

      10.01 Successors And Assigns. This Agreement shall be binding upon the
Company and its successors and assigns and shall inure to the benefit of
Indemnitee and Indemnitee's heirs, executors, personal representatives and
administrators.

      10.02 Severability. If any provision or provisions of this Agreement is
determined by a court to be invalid, illegal or unenforceable for any reason
whatsoever, such provision shall be limited or modified in its application to
the minimum extent necessary to avoid a violation of law, and, as so limited or
modified, such provision and the balance of this Agreement shall be enforceable
in accordance with its terms.

      10.03 Identical Counterparts. This Agreement may be executed in one or
more counterparts, each of which shall for all purposes be deemed to be an
original but all of which together shall constitute one and the same Agreement.
Only one such counterpart signed by the party against whom enforce ability is
sought needs to be produced to evidence the existence of this Agreement.

      10.04 Headings. The headings of the paragraphs of this Agreement are
inserted for convenience only and shall not be deemed to constitute part of this
Agreement or to affect the construction thereof.

      10.05 Modification and Waiver. No supplement, modification or amendment of
this Agreement shall be binding unless executed in writing by both of the
parties hereto. No waiver of any of the provisions of this Agreement shall be
deemed or shall constitute a waiver of any other provisions hereof (whether or
not similar) nor shall such waiver constitute a continuing waiver.

      10.06 Notices. All notices, requests, demands and other communications
hereunder shall be in writing and shall be deemed to have been duly given if (i)
delivered by hand and receipted for by the party to whom said notice or other
communication shall have been directed, or (ii) mailed by certified or
registered mail with postage prepaid, on the third business day after the date
on which it is so mailed.

<TABLE>
<S>                                       <C>
            If to Indemnitee to:          As shown with Indemnitee's signature below

            If to the Company to:         Centennial Specialty Foods Corporation
                                          400 Inverness Parkway, Suite 200
                                          Englewood, Colorado 80112
                                          Attn: J. Michael Miller, C.E.O.
</TABLE>

or to such other address as may have been furnished to Indemnitee by the Company
or to the Company by Indemnitee, as the case may be.

      10.07 Governing Law. The parties agree that this Agreement shall be
governed by, and construed and enforced in accordance with, the laws of the
State of Delaware without application of the conflict of laws principles
thereof.

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      10.08 Consent to Jurisdiction. The Company and Indemnitee each hereby
irrevocably consent to the jurisdiction of the courts of the State of Delaware
for all purposes in connection with any Proceeding which arises out of or
relates to this Agreement, and agree that any action instituted under this
Agreement shall be brought only in the state courts of the State of Delaware.

      10.09 Entire Agreement. This Agreement constitutes the entire agreement
and understanding between the parties hereto in reference to all the matters
herein agreed upon. This Agreement replaces in full all prior indemnification
agreements or understandings of the parties hereto, and any and all such prior
agreements or understandings are hereby rescinded by mutual agreement.

      IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the
day and year first above written.

                              CENTENNIAL SPECIALTY FOODS CORPORATION
                              A Delaware corporation:

                              By:___________________________________________
                              Name:_________________________________________
                              Title:________________________________________

                              INDEMNITEE:

                              By:___________________________________________
                              Print Name: __________________________________
                              Address:______________________________________
                                      ______________________________________

                                       8<PAGE>

                                                                   EXHIBIT 10.18

                     CENTENNIAL SPECIALTY FOODS CORPORATION

                 2003 NON-EMPLOYEE DIRECTORS' STOCK OPTION PLAN

                             Adopted: April 15, 2003
                    Approved By Stockholders: April 16, 2003
                          Effective Date: June 1, 2003
                             Termination Date: None

1.    PURPOSES.

      (a) Eligible Option Recipients. The persons eligible to receive Options
are the Non-Employee Directors of the Company.

      (b) Available Options. The purpose of the Plan is to provide a means by
which Non-Employee Directors may be given an opportunity to benefit from
increases in value of the Common Stock through the granting of Nonstatutory
Stock Options.

      (c) General Purpose. The Company, by means of the Plan, seeks to retain
the services of its Non-Employee Directors, to secure and retain the services of
new Non-Employee Directors and to provide incentives for such persons to exert
maximum efforts for the success of the Company and its Controlled Corporations.

2.    DEFINITIONS.

      (a) "Accountant" means the independent public accountants of the Company.

      (b) "Affiliate" means any parent corporation or subsidiary corporation of
the Company, whether now or hereafter existing, as those terms are defined in
Sections 424(e) and (f), respectively, of the Code.

      (c) "Annual Grant" means an Option granted annually to a Non-Employee
Director who meets the specified criteria pursuant to subsection 6(b) of the
Plan.

      (d) "Annual Meeting" means the annual meeting of the stockholders of the
Company.

      (e) "Board" means the Board of Directors of the Company.

      (f) "Change In Control" means the occurrence, in a single transaction or
in a series of related transactions, of any one or more of the following events
after the IPO Date:

            (i) any Exchange Act Person becomes the Owner, directly or
indirectly, of securities of the Company representing more than fifty percent
(50%) of the combined voting power of the Company's then outstanding securities
other than by virtue of a merger, consolidation or similar transaction;

            (ii) there is consummated a merger, consolidation or similar
transaction involving (directly or indirectly) the Company and, immediately
after the consummation of such merger, consolidation or similar transaction, the
stockholders of the Company immediately prior thereto do not Own, directly or
indirectly, outstanding voting securities representing more than fifty percent
(50%) of the combined outstanding voting power of the surviving Entity in such
merger, consolidation or similar transaction or more than fifty percent (50%) of
the combined outstanding voting power of the parent of the surviving Entity in
such merger, consolidation or similar transaction;

            (iii) there is consummated a sale, lease, license or other
disposition of all or substantially all of the consolidated assets of the
Company and its Subsidiaries, other than a sale, lease, license or other
disposition of all or substantially all of the consolidated assets of the
Company and its Subsidiaries to an Entity, more than fifty percent (50%) of the
combined voting power of the voting securities of which are

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Owned by stockholders of the Company in substantially the same proportions as
their Ownership of the Company immediately prior to such sale, lease, license or
other disposition; or

Notwithstanding the foregoing or any other provision of this Plan, the
definition of Change in Control (or any analogous term) in an individual written
agreement between the Company or any Controlled Corporation and the Optionholder
shall supersede the foregoing definition with respect to Options subject to such
agreement (it being understood, however, that if no definition of Change in
Control or any analogous term is set forth in such an individual written
agreement, the foregoing definition shall apply).

      (g) "Common Stock" means the common stock of the Company.

      (h) "Code" means the Internal Revenue Code of 1986, as amended.

      (i) "Company" means Centennial Specialty Foods Corporation, a Delaware
corporation.

      (j) "Consultant" means any person, including an advisor, (i) engaged by
the Company or a Controlled Corporation to render consulting or advisory
services and who is compensated for such services or (ii) who is a member of the
Board of Directors of a Controlled Corporation. However, the term "Consultant"
shall not include either Directors of the Company who are not compensated by the
Company for their services as Directors or Directors of the Company who are
merely paid a director's fee by the Company for their services as Directors.

      (k) "Continuous Service" means that the Optionholder's service with the
Company or a Controlled Corporation, whether as an Employee, Director or
Consultant, is not interrupted or terminated. The Optionholder's Continuous
Service shall not be deemed to have terminated merely because of a change in the
capacity in which the Optionholder renders service to the Company or a
Controlled Corporation as an Employee, Consultant or Director or a change in the
entity for which the Optionholder renders such service, provided that there is
no interruption or termination of the Optionholder's Continuous Service. For
example, a change in status from a Non-Employee Director of the Company to a
Consultant of a Controlled Corporation or an Employee of the Company will not
constitute an interruption of Continuous Service. The Board, in its sole
discretion, may determine whether Continuous Service shall be considered
interrupted in the case of any leave of absence approved by that party,
including sick leave, military leave or any other personal leave.

      (l) "Controlled Corporation" means any subsidiary corporation of the
Company, whether now or hereafter existing, as such term is defined in Section
424(f) of the Code.

      (m) "Director" means a member of the Board of Directors of the Company.

      (n) "Disability" means the inability of a person, in the opinion of a
qualified physician acceptable to the Company, to perform the major duties of
that person's position with the Company or a Controlled Corporation of the
Company because of the sickness or injury of the person.

      (o) "Effective Date" means the date the Plan is adopted by the Board.

      (p) "Employee" means any person employed by the Company or a Controlled
Corporation. Mere service as a Director or payment of a director's fee by the
Company or a Controlled Corporation shall not be sufficient to constitute
"employment" by the Company or a Controlled Corporation.

      (q) "Entity" means a corporation, partnership or other entity.

      (r) "Exchange Act" means the Securities Exchange Act of 1934, as amended.

      (s) "Exchange Act Person" means any natural person, Entity or "group"
(within the meaning of Section 13(d) or 14(d) of the Exchange Act), except that
"Exchange Act Person" shall not include (A) the Company or any Subsidiary of the
Company, (B) any employee benefit plan of the Company or any

                                       2
<PAGE>
Subsidiary of the Company or any trustee or other fiduciary holding securities
under an employee benefit plan of the Company or any Subsidiary of the Company,
(C) an underwriter temporarily holding securities pursuant to an offering of
such securities, or (D) an Entity Owned, directly or indirectly, by the
stockholders of the Company in substantially the same proportions as their
Ownership of stock of the Company.

      (t) "Fair Market Value" means, as of any date, the value of the Common
Stock determined as follows:

            (i) If the Common Stock is listed on any established stock exchange
or traded on the Nasdaq National Market or the Nasdaq SmallCap Market, the Fair
Market Value of a share of Common Stock shall be the closing sales price for
such stock (or the closing bid, if no sales were reported) as quoted on such
exchange or market (or the exchange or market with the greatest volume of
trading in the Common Stock) on the last market trading day prior to the day of
determination, as reported in The Wall Street Journal or such other source as
the Board deems reliable.

            (ii) In the absence of such markets for the Common Stock, the Fair
Market Value shall be determined in good faith by the Board.

      (u) "Initial Grant" means an Option granted to a Non-Employee Director who
meets the specified criteria pursuant to subsection 6(a) of the Plan.

      (v) "IPO Date" means the date the Company's Common Stock is first offered
to the public under a registration statement declared effective under the
Securities Act.

      (w) "Non-Employee Director" means a Director who is not an Employee of the
Company or a Controlled Corporation.

      (x) "Nonstatutory Stock Option" means an Option not intended to qualify as
an incentive stock option within the meaning of Section 422 of the Code and the
regulations promulgated thereunder.

      (y) "Officer" means a person who is an officer of the Company within the
meaning of Section 16 of the Exchange Act and the rules and regulations
promulgated thereunder.

      (z) "Option" means a Nonstatutory Stock Option granted pursuant to the
Plan.

      (aa) "Option Agreement" means a written agreement between the Company and
an Optionholder evidencing the terms and conditions of an individual Option
grant. Each Option Agreement shall be subject to the terms and conditions of the
Plan.

      (bb) "Optionholder" means a person to whom an Option is granted pursuant
to the Plan or, if applicable, such other person who holds an outstanding
Option.

      (cc) "Own," "Owned," "Owner," "Ownership." A person or Entity shall be
deemed to "Own," to have "Owned," to be the "Owner" of, or to have acquired
"Ownership" of securities if such person or Entity, directly or indirectly,
through any contract, arrangement, understanding, relationship or otherwise, has
or shares voting power, which includes the power to vote or to direct the
voting, with respect to such securities.

      (dd) "Plan" means this Centennial Specialty Foods Corporation 2003
Non-Employee Directors' Stock Option Plan.

      (ee) "Rule 16b-3" means Rule 16b-3 promulgated under the Exchange Act or
any successor to Rule 16b-3, as in effect from time to time.

      (ff) "Securities Act" means the Securities Act of 1933, as amended.

                                       3
<PAGE>
      (gg) "Subsidiary" means, with respect to the Company, (i) any corporation
of which more than fifty percent (50%) of the outstanding capital stock having
ordinary voting power to elect a majority of the board of directors of such
corporation (irrespective of whether, at the time, stock of any other class or
classes of such corporation shall have or might have voting power by reason of
the happening of any contingency) is at the time, directly or indirectly, Owned
by the Company, and (ii) any partnership in which the Company has a direct or
indirect interest (whether in the form of voting or participation in profits or
capital contribution) of more than fifty percent (50%).

3.    ADMINISTRATION.

      (a) Administration By Board. The Board shall administer the Plan. The
Board may not delegate administration of the Plan to a committee.

      (b) Powers Of Board. The Board shall have the power, subject to, and
within the limitations of, the express provisions of the Plan:

            (i) To determine the provisions of each Option to the extent not
specified in the Plan.

            (ii) To construe and interpret the Plan and Options granted under
it, and to establish, amend and revoke rules and regulations for its
administration. The Board, in the exercise of this power, may correct any
defect, omission or inconsistency in the Plan or in any Option Agreement, in a
manner and to the extent it shall deem necessary or expedient to make the Plan
fully effective.

            (iii) To amend the Plan or an Option as provided in Section 12.

            (iv) Generally, to exercise such powers and to perform such acts as
the Board deems necessary or expedient to promote the best interests of the
Company that are not in conflict with the provisions of the Plan.

      (c) Effect Of Board's Decision. All determinations, interpretations and
constructions made by the Board in good faith shall not be subject to review by
any person and shall be final, binding and conclusive on all persons.

4.    SHARES SUBJECT TO THE PLAN.

      (a) Shares Reserved. Subject to the provisions of Section 11 relating to
adjustments upon changes in the Common Stock, the Common Stock that may be
issued pursuant to Options shall not exceed in the aggregate One Hundred Fifty
Thousand (150,000) shares of Common Stock.

      (b) Reversion Of Shares To The Share Reserve. If any Option shall for any
reason expire or otherwise terminate, in whole or in part, without having been
exercised in full, or if any shares of Common Stock issued to a Participant
pursuant to an Option are forfeited back to or repurchased by the Company
because of or in connection with the failure to meet a contingency or condition
required to vest such shares in the Participant, the shares of Common Stock not
acquired, forfeited or repurchased under such Stock Award shall revert to and
again become available for issuance under the Plan.

      (c) Source Of Shares. The shares of Common Stock subject to the Plan may
be unissued shares or reacquired shares, bought on the market or otherwise. If
the aggregate number of shares of Common Stock issuable pursuant to Section
6(a), (b) or (c) would exceed the number of shares remaining in the share
reserve under Section 4(a) at such time of grant, then, in the absence of any
Board action otherwise, a pro rata allocation of the shares of Common Stock
available shall be made in as nearly a uniform manner as shall be practicable
and equitable.

                                       4
<PAGE>
5.    ELIGIBILITY.

      The Options as set forth in Section 6 automatically shall be granted under
the Plan to all Non-Employee Directors.

6.    NON-DISCRETIONARY GRANTS.

      (a) Initial Grants. Without any further action of the Board, (i) each
person who is or becomes a Non-Employee Director as of the Effective Date, and
(ii) each person who, after the Effective Date, is elected or appointed for the
first time to be a Non-Employee Director automatically shall, upon the Effective
Date or the date of his or her initial election or appointment to be a
Non-Employee Director, as applicable, be granted an Initial Grant to purchase
_______________Thousand (__,000) shares of Common Stock on the terms and
conditions set forth herein.

      (b) Annual Grants. Without any further action of the Board, on each July
1, commencing on July 1, 2003, each person who is then a Non-Employee Director,
automatically shall be granted an Annual Grant to purchase _____Thousand
(__,000) shares of Common Stock on the terms and conditions set forth herein,
provided, however, that the number of shares subject to an Annual Grant for a
particular Non-Employee Director shall be reduced, on a pro rata basis, for each
month such person did not serve as a Non-Employee Director during the
twelve-month period from the prior Annual Grant Date (or from July 1, 2003 with
respect to the first Annual Grant hereunder) until the current Annual Grant
Date.

7.    OPTION PROVISIONS.

      Each Option shall be in such form and shall contain such terms and
conditions as required by the Plan. Each Option shall contain such additional
terms and conditions, not inconsistent with the Plan, as the Board shall deem
appropriate. Each Option shall include (through incorporation of provisions
hereof by reference in the Option or otherwise) the substance of each of the
following provisions:

      (a) Term. No Option shall be exercisable after the expiration of ten (10)
years from the date it was granted.

      (b) Exercise Price. The exercise price of each Option shall be one hundred
percent (100%) of the Fair Market Value of the stock subject to the Option on
the date the Option is granted. Notwithstanding the foregoing, an Option may be
granted with an exercise price lower than that set forth in the preceding
sentence if such Option is granted pursuant to an assumption or substitution for
another option in a manner satisfying the provisions of Section 424(a) of the
Code.

      (c) Consideration. The purchase price of stock acquired pursuant to an
Option may be paid, to the extent permitted by applicable statutes and
regulations, in any combination of (i) cash or check, (ii) delivery to the
Company of other Common Stock or (iii) pursuant to a program developed under
Regulation T as promulgated by the Federal Reserve Board that, prior to the
issuance of Common Stock, results in either the receipt of cash (or check) by
the Company or the receipt of irrevocable instructions to pay the aggregate
exercise price to the Company from the sales proceeds. The purchase price of
Common Stock acquired pursuant to an Option that is paid by delivery to the
Company of other Common Stock acquired, directly or indirectly from the Company,
shall be paid only by shares of the Common Stock of the Company that have been
held for more than six (6) months (or such longer or shorter period of time
required to avoid a charge to earnings for financial reporting purposes).

      (d) Transferability. An Option is transferable by will or by the laws of
descent and distribution. An Option also may be transferable upon written
consent of the Company if, at the time of transfer, a Form S-8 registration
statement under the Securities Act is available for the exercise of the Option
and the subsequent resale of the underlying securities. In addition,
Optionholder may, by delivering written notice to the Company, in a form
satisfactory to the Company, designate a third party who, in the event of the
death of the Optionholder, shall thereafter be entitled to exercise the Option.

                                       5
<PAGE>
      (e) Vesting. Options shall vest as follows:

            (i) Initial Grants: 1/36th of the shares of Common Stock covered by
an Initial Grant shall vest monthly over thirty-six (36) months.

            (ii) Annual Grants: 1/36th of the shares of Common Stock covered by
an Annual Grant shall vest monthly over thirty-six (36) months.

      (f) Early Exercise. The Option may, but need not, include a provision
whereby the Optionholder may elect at any time before the Optionholder's
Continuous Service terminates to exercise the Option as to any part or all of
the shares of Common Stock subject to the Option prior to the full vesting of
the Option. Any unvested shares of Common Stock so purchased may be subject to a
repurchase option in favor of the Company or to any other restriction the Board
determines to be appropriate.

      (g) Termination Of Continuous Service. In the event an Optionholder's
Continuous Service terminates (other than upon the Optionholder's death or
Disability), the Optionholder may exercise his or her Option (to the extent that
the Optionholder was entitled to exercise it as of the date of termination) but
only within such period of time ending on the earlier of (i) the date three (3)
months following the termination of the Optionholder's Continuous Service, or
(ii) the expiration of the term of the Option as set forth in the Option
Agreement. If, after termination, the Optionholder does not exercise his or her
Option within the time specified in the Option Agreement, the Option shall
terminate.

      (h) Extension Of Termination Date. If the exercise of the Option following
the termination of the Optionholder's Continuous Service (other than upon the
Optionholder's death or Disability) would be prohibited at any time solely
because the issuance of shares would violate the registration requirements under
the Securities Act, then the Option shall terminate on the earlier of (i) the
expiration of the term of the Option set forth in subsection 7(a) or (ii) the
expiration of a period of three (3) months after the termination of the
Optionholder's Continuous Service during which the exercise of the Option would
not be in violation of such registration requirements.

      (i) Disability Of Optionholder. In the event an Optionholder's Continuous
Service terminates as a result of the Optionholder's Disability, the
Optionholder may exercise his or her Option (to the extent that the Optionholder
was entitled to exercise it as of the date of termination), but only within such
period of time ending on the earlier of (i) the date six (6) months following
such termination or (ii) the expiration of the term of the Option as set forth
in the Option Agreement. If, after termination, the Optionholder does not
exercise his or her Option within the time specified herein, the Option shall
terminate.

      (j) Death Of Optionholder. In the event (i) an Optionholder's Continuous
Service terminates as a result of the Optionholder's death or (ii) the
Optionholder dies within the three-month period after the termination of the
Optionholder's Continuous Service for a reason other than death, then the Option
may be exercised (to the extent the Optionholder was entitled to exercise the
Option as of the date of death) by the Optionholder's estate, by a person who
acquired the right to exercise the Option by bequest or inheritance or by a
person designated to exercise the Option upon the Optionholder's death, but only
within the period ending on the earlier of (1) the date six (6) months following
the date of death or (2) the expiration of the term of such Option as set forth
in the Option Agreement. If, after death, the Option is not exercised within the
time specified herein, the Option shall terminate.

8.    COVENANTS OF THE COMPANY.

      (a) Availability Of Shares. During the terms of the Options, the Company
shall keep available at all times the number of shares of Common Stock required
to satisfy such Options.

      (b) Securities Law Compliance. The Company shall seek to obtain from each
regulatory commission or agency having jurisdiction over the Plan such authority
as may be required to grant Options and to issue and sell shares of Common Stock
upon exercise of the Options; provided, however, that this

                                       6
<PAGE>
undertaking shall not require the Company to register under the Securities Act
the Plan, any Option or any stock issued or issuable pursuant to any such
Option. If, after reasonable efforts, the Company is unable to obtain from any
such regulatory commission or agency the authority which counsel for the Company
deems necessary for the lawful issuance and sale of stock under the Plan, the
Company shall be relieved from any liability for failure to issue and sell stock
upon exercise of such Options unless and until such authority is obtained.

9.    USE OF PROCEEDS FROM STOCK.

      Proceeds from the sale of stock pursuant to Options shall constitute
general funds of the Company.

10.   MISCELLANEOUS.

      (a) Stockholder Rights. No Optionholder shall be deemed to be the holder
of, or to have any of the rights of a holder with respect to, any shares subject
to such Option unless and until such Optionholder has satisfied all requirements
for exercise of the Option pursuant to its terms.

      (b) No Service Rights. Nothing in the Plan or any instrument executed or
Option granted pursuant thereto shall confer upon any Optionholder any right to
continue to serve the Company as a Non-Employee Director or shall affect the
right of the Company or an Affiliate to terminate (i) the employment of an
Employee with or without notice and with or without cause, (ii) the service of a
Consultant pursuant to the terms of such Consultant's agreement with the Company
or an Affiliate or (iii) the service of a Director pursuant to the Bylaws of the
Company or an Affiliate, and any applicable provisions of the corporate law of
the state in which the Company or the Affiliate is incorporated, as the case may
be.

      (c) Investment Assurances. The Company may require an Optionholder, as a
condition of exercising or acquiring stock under any Option, (i) to give written
assurances satisfactory to the Company as to the Optionholder's knowledge and
experience in financial and business matters and/or to employ a purchaser
representative reasonably satisfactory to the Company who is knowledgeable and
experienced in financial and business matters and that he or she is capable of
evaluating, alone or together with the purchaser representative, the merits and
risks of exercising the Option; and (ii) to give written assurances satisfactory
to the Company stating that the Optionholder is acquiring the stock subject to
the Option for the Optionholder's own account and not with any present intention
of selling or otherwise distributing the stock. The foregoing requirements, and
any assurances given pursuant to such requirements, shall be inoperative if (1)
the issuance of the shares upon the exercise or acquisition of stock under the
Option has been registered under a then currently effective registration
statement under the Securities Act, or (2) as to any particular requirement, a
determination is made by counsel for the Company that such requirement need not
be met in the circumstances under the then applicable securities laws. The
Company may, upon advice of counsel to the Company, place legends on stock
certificates issued under the Plan as such counsel deems necessary or
appropriate in order to comply with applicable securities laws, including, but
not limited to, legends restricting the transfer of the stock.

      (d) Withholding Obligations. The Optionholder may satisfy any federal,
state or local tax withholding obligation relating to the exercise or
acquisition of stock under an Option by any of the following means (in addition
to the Company's right to withhold from any compensation paid to the
Optionholder by the Company) or by a combination of such means: (i) tendering a
cash payment; (ii) authorizing the Company to withhold shares from the shares of
the Common Stock otherwise issuable to the Optionholder as a result of the
exercise or acquisition of stock under the Option, provided, however, that no
shares of Common Stock are withheld with a value exceeding the minimum amount of
tax required to be withheld by law; or (iii) delivering to the Company owned and
unencumbered shares of the Common Stock.

      (e) Lock-Up Period. Upon exercise of any Option, an Optionholder may not
sell, dispose of, transfer, make any short sale of, grant any option for the
purchase of, or enter into any hedging or similar transaction with the same
economic effect as a sale, any shares of Common Stock or other securities of the
Company held by the Optionholder, for a period of time specified by the managing
underwriter(s) (not to exceed one

                                       7
<PAGE>
year following the IPO Date (the "Lock Up Period"); provided, however, that
nothing contained in this section shall prevent the exercise of a repurchase
option, if any, in favor of the Company during the Lock Up Period. An
Optionholder may be required to execute and deliver such other agreements as may
be reasonably requested by the Company and/or the underwriter(s) that are
consistent with the foregoing or that are necessary to give further effect
thereto. In order to enforce the foregoing, the Company may impose stop-transfer
instructions with respect to such shares of Common Stock until the end of such
period. The underwriters of the Company's stock are intended third party
beneficiaries of this Section 10(e) and shall have the right, power and
authority to enforce the provisions hereof as though they were a party hereto.

11.   ADJUSTMENTS UPON CHANGES IN COMMON STOCK.

      (a) Capitalization Adjustments. If any change is made in the stock subject
to the Plan, or subject to any Option, without the receipt of consideration by
the Company (through merger, consolidation, reorganization, recapitalization,
reincorporation, stock dividend, dividend in property other than cash, stock
split, liquidating dividend, combination of shares, exchange of shares, change
in corporate structure or other transaction not involving the receipt of
consideration by the Company), the Plan will be appropriately adjusted in the
nature, class(es) and maximum number of securities subject both to the Plan
pursuant to Section 4 and to the nondiscretionary Options specified in Section
6, and the outstanding Options will be appropriately adjusted in the nature,
class(es) and number of securities and price per share of stock subject to such
outstanding Options. The Board shall make such adjustments, and its
determination shall be final, binding and conclusive. (The conversion of any
convertible securities of the Company shall not be treated as a transaction
"without receipt of consideration" by the Company.)

      (b) Dissolution Or Liquidation. In the event of a dissolution or
liquidation of the Company, then all outstanding Options shall terminate
immediately prior to such event.

      (c) Change In Control. If a Change in Control occurs and as of, or within
twelve (12) months after, the effective time of such Change in Control, an
Optionholder's Continuous Service terminates, then his or her options will
accelerate and become fully vested and immediately exercisable, unless the
termination was a result of the Optionholder's resignation (other than any
resignation contemplated by the terms of the Change in Control or required by
the Company or the acquiring entity pursuant to the Change in Control).

      (d) Parachute Payments. In the event that the acceleration of the vesting
and exercisability of the Options provided for in subsection 11(c) and benefits
otherwise payable to a Optionholder ("Payment") would (i) constitute a
"parachute payment" within the meaning of Section 280G of the Code, and (ii) but
for this sentence, be subject to the excise tax imposed by Section 4999 of the
Code (the "Excise Tax"), then such Payment shall be equal to the Reduced Amount.
The "Reduced Amount" shall be either (x) the largest portion of the Payment that
would result in no portion of the Payment being subject to the Excise Tax or (y)
the largest portion, up to and including the total, of the Payment, whichever
amount, after taking into account all applicable federal, state and local
employment taxes, income taxes, and the Excise Tax (all computed at the highest
applicable marginal rate), results in the Optionholder's receipt, on an
after-tax basis, of the greater amount of the Payment notwithstanding that all
or some portion of the Payment may be subject to the Excise Tax. If a reduction
in payments or benefits constituting "parachute payments" is necessary so that
the Payment equals the Reduced Amount, reduction shall occur in the following
order unless the Optionholder elects in writing a different order (provided,
however, that such election shall be subject to Company approval if made on or
after the effective date of the event that triggers the Payment): reduction of
cash payments; cancellation of accelerated vesting of Options; reduction of
employee benefits. In the event that acceleration of vesting of Option
compensation is to be reduced, such acceleration of vesting shall be cancelled
in the reverse order of the date of grant of the Optionholder's Options (i.e.,
earliest granted Option cancelled last) unless the Optionholder elects in
writing a different order for cancellation.

      The Accountant engaged by the Company for general audit purposes as of the
day prior to the effective date of the Change in Control shall perform the
foregoing calculations. If the Accountant so engaged by the Company is serving
as accountant or auditor for the individual, entity or group effecting the
Change in Control, the Company shall appoint a nationally recognized accounting
firm to make the determinations

                                       8
<PAGE>
required hereunder. The Company shall bear all expenses with respect to the
determinations by such accounting firm required to be made hereunder.

      The Accountant or accounting firm engaged to make the determinations
hereunder shall provide its calculations, together with detailed supporting
documentation, to the Optionholder and the Company within fifteen (15) calendar
days after the date on which the Optionholder's right to a Payment is triggered
(if requested at that time by the Optionholder or the Company) or such other
time as requested by the Optionholder or the Company. If the Accountant or
accounting firm determines that no Excise Tax is payable with respect to a
Payment, either before or after the application of the Reduced Amount, it shall
furnish the Optionholder and the Company with an opinion reasonably acceptable
to the Optionholder that no Excise Tax will be imposed with respect to such
Payment. Any good faith determinations of the Accountant or accounting firm made
hereunder shall be final, binding and conclusive upon the Optionholder and the
Company.

12.   AMENDMENT OF THE PLAN AND OPTIONS.

      (a) Amendment Of Plan. The Board at any time, and from time to time, may
amend the Plan. However, except as provided in Section 11 relating to
adjustments upon changes in Common Stock, no amendment shall be effective unless
approved by the stockholders of the Company to the extent stockholder approval
is necessary to satisfy the requirements of Rule 16b-3 or any Nasdaq or
securities exchange listing requirements.

      (b) Stockholder Approval. The Board may, in its sole discretion, submit
any other amendment to the Plan for stockholder approval.

      (c) No Impairment Of Rights. Rights under any Option granted before
amendment of the Plan shall not be impaired by any amendment of the Plan unless
(i) the Company requests the consent of the Optionholder and (ii) the
Optionholder consents in writing.

      (d) Amendment Of Options. The Board at any time, and from time to time,
may amend the terms of any one or more Options; provided, however, that the
rights under any Option shall not be impaired by any such amendment unless (i)
the Company requests the consent of the Optionholder and (ii) the Optionholder
consents in writing.

13.   TERMINATION OR SUSPENSION OF THE PLAN.

      (a) Plan Term. The Board may suspend or terminate the Plan at any time. No
Options may be granted under the Plan while the Plan is suspended or after it is
terminated.

      (b) No Impairment Of Rights. Suspension or termination of the Plan shall
not impair rights and obligations under any Option granted while the Plan is in
effect except with the written consent of the Optionholder.

14.   EFFECTIVE DATE OF PLAN.

      The Plan shall become effective on the date the Plan is adopted by the
Board, but no Option shall be exercised unless and until the Plan has been
approved by the stockholders of the Company, which approval shall be within
twelve (12) months before or after the date the Plan is adopted by the Board.

15.   CHOICE OF LAW.

      All questions concerning the construction, validity and interpretation of
this Plan shall be governed by the law of the State of Delaware, without regard
to such state's conflict of laws rules.

                                       9

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