Document:

EXHIBIT 10.39

                             STOCKHOLDERS' AGREEMENT

      AGREEMENT, dated as of August 20, 1987, as amended on February 20, 1992,
by and among WAKEFERN FOOD CORP., a New Jersey corporation with principal
offices located at York Street, Elizabeth, New Jersey 07207 ("Wakefern"), and
each of the member stockholders of Wakefern listed on Schedule 1 hereto
(hereinafter individually called a "Stockholder" and collectively the
"Stockholders").

                              W I T N E S S E T H:

Premises:

      A. Wakefern is a corporation operated on the cooperative plan and the
Stockholders are retail merchants primarily dealing in consumer products for
home use deriving mutual economic and merchandise assistance Wakefern; and

      B. Each of the Stockholders of Class B or Class C Common Stock of Wakefern
and, in some instances, also of shares of Class A Common Stock of Wakefern (the
Class A, B and C Common Stock being hereinafter collectively referred to as the
"Common Stock"); and

      C. Wakefern's viability is based primarily on volume generated by
aggregating the purchasing power of all of the Stockholders; and Shares and from
is the owner of

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      D. The Board of Directors of Wakefern and the Stockholders believe it is
in Wakefern's and each of the Stockholder's best interest that the Stockholders
continue to purchase their supplies and inventory from Wakefern; and

      E. The Board of Directors and the Stockholders of Wakefern believe it is
in Wakefern's and each of the Stockholder's best interest to undertake a major
capital expenditure program in order to increase the merchandise handling
capacity of Wakefern and to promote retail growth; and

      F. To induce one or more lending institutions to provide the necessary
financing for such capital expenditure program, the Stockholders have agreed,
subject to the terms and conditions contained herein, to make certain financial
commitments to Wakefern;

NOW, THEREFORE, for and in consideration of the premises and the mutual promises
and covenants hereinafter contained, Wakefern and the Stockholders hereby agree
as follows:

      1. COMMITMENT TO PARTICIPATE

      1.1. Minimum Patronization Requirement. Each Stockholder, during the term
of this Agreement (the "Term"), shall purchase from Wakefern, during each
quarter of each fiscal year of Wakefern, at least 85% of such Stockholder's
purchases for each of such Stockholder's stores in each of Wakefern's product
categories listed on Schedule 2(A) hereto (the "Product Categories"), as the
same may be amended from time to time by the Board of Directors of Wakefern (the
"Products") and all programs listed on Schedule 2(B) hereto as mandated by the
Board of Directors of Wakefern, as the same may be amended from time to time by
the Board of Directors of Wakefern (the "Programs"), upon such terms and
conditions as to price and delivery as shall be established by Wakefern from
time to time. Such purchase and participation

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commitments shall be called the "minimum patronization requirement."

      1.2. Binding Effect. The minimum patronization requirement shall be
binding upon all the Stockholders with respect to all supermarkets, food stores
and/or grocery stores now or hereafter operated by each such Stockholder, or by
any entity or entities with which such Stockholder is affiliated, and that are
serviced by Wakefern at site locations approved by Wakefern in the manner
provided in the By-Laws of Wakefern as the same may be amended from time to
time.

      1.3 Reports. On or prior to 120 days after the close of each fiscal year
of each Stockholder, such Stockholder shall furnish to Wakefern a report showing
the dollar amount of such Stockholder's total purchases of the Products in each
of Wakefern's product categories and the items included in Wakefern's board
mandated Programs purchased from any source for such Stockholder's most recent
fiscal year. Upon the written request of Wakefern, a Stockholder shall furnish
to Wakefern within 45 days after the close of the fiscal quarter of the
Stockholder for which such request is made a report showing the dollar amount of
such Stockholder's total purchases of the Products in each of Wakefern's product
categories and the items included in Wakefern's board mandated Programs
purchased from any source for the Stockholder's fiscal quarter then ended. Each
such report shall be subject to review, at the option of Wakefern, by Wakefern's
regular independent public accountants.

      2.    FAILURE TO OBSERVE MINIMUM PATRONIZATION REQUIREMENT; WITHDRAWALS;
            SALE OF A STORE; SALE OF STOCKHOLDER TO WAKEFERN; RIGHT OF FIRST
            REFUSAL

            The Stockholders and Wakefern acknowledge and agree that (a) the
            failure of one or more Stockholders to observe the minimum
            Patronization requirement; (b) the

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            Withdrawal (as hereinafter defined) of one or more Stockholders from
            Wakefern; or (c) the Sale of a Store (as hereinafter defined), will
            have the effect of increasing the financial burden of all the
            Stockholders with respect to meeting the financial obligations
            Wakefern is to assume under its capital expenditure program.
            Accordingly, each Stockholder agrees as follows:

      2.1. Failure to Observe Minimum Patronization Requirement. If a
Stockholder fails to meet or refuses to comply with the minimum patronization
requirement set forth in Section 1.1 hereof, such defaulting Stockholder shall
be required to pay to Wakefern in cash within 10 days after demand therefore, an
amount calculated pursuant to the provisions of Schedule 3 hereto; provided,
however, that such payment may be waived, in whole or in part, by an affirmative
vote of at least 12 members of the Board of Directors of Wakefern. Such payment
obligation may be imposed on a defaulting Stockholder irrespective of the reason
that such Stockholder ceases to meet the minimum patronization requirement
(other than by, and to the extent of, "force majeure" as hereinafter defined or
if an exemption therefrom exists under this Agreement), including, without
limitation, by reason of change in control or other disposition of all or a part
of such Stockholder's business. The imposition of such payment: obligation on
such Stockholder shall be binding and conclusive on such Stockholder unless
waived pursuant to the provisions contained in Section 2.1. As used herein,
"force majeure" shall mean the inability of a Stockholder to purchase Products
from Wakefern by reason of events or contingencies beyond such Stockholder's
reasonable control including, but not limited to, fire, flood, explosion,
sabotage, other natural or made disaster, act of any government, labor dispute,
lack of shipping facilities or, without limiting the foregoing, any other
circumstance that could not have been avoided with reasonable care. The
determination of what constitutes force majeure" shall be made by the Board of
Directors of Wakefern, in its sole discretion.

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      2.2. Notice of Withdrawals; Withdrawal Payment. Each Stockholder agrees to
give Wakefern at least thirty 30) days' prior written notice of the happening of
any of the following events each a "Withdrawal"):

            (i) a sale or other disposition for value of all or substantially
      all ShopRite supermarket business of such Stockholder in a single
      transaction or series of related transactions; or

            (ii) the merger or consolidation of such Stockholder with or into
      another entity (irrespective of whether such Stockholder is the surviving
      or disappearing entity); or

            (iii) the transfer of, or any transaction or series of transactions
      that have the effect of transferring, a "controlling interest" in such
      Stockholder (for purposes hereof, a "controlling interest" in such
      Stockholder shall mean such interest as confers on the holder thereof the
      power to direct or cause the direction of the management and policies of
      such Stockholder).

Except as provided in Section 2.4 hereof, upon the occurrence of a Withdrawal
prior to the expiration of the Term, such Stockholder shall pay to Wakefern an
amount calculated pursuant to the provisions of Schedule 4 hereto the
"Withdrawal Payment" Upon payment of the Withdrawal Payment and the payment and
discharge of all obligations of such Stockholder incurred hereunder prior to the
date of such Withdrawal Payment, such Stockholder shall thereafter have no
further obligation under this Agreement. However, such discharge shall in no way
affect the obligations of such Stockholder to Wakefern or any affiliate of
Wakefern arising under any other agreement or in connection with any transaction
or relationship of such Stockholder with Wakefern or such affiliate.

      2.3 Notice of Sale off Store; Sale of a Store Payment. (a) Each
Stockholder agrees to give Wakefern at least thirty 30) days' prior written
notice of the happening of the following event (a "Sale of a Store"):

      a sale or other disposition (including, without limitation, the closing of
      a store) other than a Withdrawal, whether by merger, consolidation, sale
      of capital stock, sale of assets or otherwise, of a supermarket, food or
      grocery store (a "Store") owned, operated or controlled by such
      Stockholder, which Store is being serviced by Wakefern.

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Except as provided in Sections 2.3(b) and (c) or Section 2.4 hereof, upon the
occurrence of a Sale of a Store prior to the expiration of the Term, such
Stockholder shall to Wakefern at the end of each fiscal year thereafter until
the earlier to occur of (i) the tenth anniversary of Sale of a Store and (ii)
the expiration of the Term, commencing with the fiscal year in which such Sale
of a Store occurs, an amount calculated pursuant to the provisions of Schedule 3
hereto the "Sale of a Store Payment"). If a Stockholder shall be due any payment
by Wakefern pursuant to Wakefern's Investment Policy as a result of a Sale of a
Store, Wakefern may first apply any such amount due such Stockholder to satisfy
such Stockholder's indebtedness to Wakefern in respect of any unpaid obligations
under notes of such Stockholder pursuant to Wakefern's Investment Policy. Upon
payment of all of the Sale of a Store Payments required hereunder and the
payment and discharge of all obligations of the Stockholder incurred hereunder
prior to the date of such Sale of a Store Payment, such Stockholder shall
thereafter have no further obligation to Wakefern under this Agreement with
respect to such Store sold. However, such discharge shall in no way affect the
obligations of such Stockholder to Wakefern or any affiliate of Wakefern arising
under any other agreement or in connection with any transaction or relationship
of such Stockholder with Wakefern or such affiliate

      (b) Such Stockholder shall not be obligated to make any Sale of a Store
Payments if i) the Store sold in such Sale of a Store (a "Sale of an
Underfacilitated Store") has not made a profit for the fiscal year immediately
preceding such Sale of a Store and (2) if such Store either (x) has a sales area
of less than 20,000 square feet or (y for the twelve month period immediately
preceding such Sale of a Store has average weekly sales of less than $300,000
(an "Underfacilitated Store"); provided, however, that before any Stockholder
may effect a Sale of an Underfacilitated Store, such Stockholder must first
comply with the provisions of Section 2.7, or (ii) for each year in which the
volume of purchases of the Products in each of the Product Categories and
Programs by all the ShopRite Stores owned by the affected Stockholder (exclusive
of the volume of purchases of the Products incurred as a result of the
acquisition of ShopRite Stores from other members of Wakefern during the year in
which such Store is sold or during subsequent years to the extent of the volume
of purchases for such acquired Stores during the year in which such affected
Store is sold the "Purchase Volume" for such year), equals or exceeds the
"minimum patronization requirement" of such Stockholder (assuming the affected

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Store had not been sold) for the fiscal year for which such Sale of a Store
Payment is to be effected. For the purposes of the calculations specified in
this Section 2.3(b) and Section 2.3(c below, the "minimum patronization
requirement" of a Store sold is the "minimum patronization requirement" for such
Store for the fiscal year immediately preceding such sale. (c) Notwithstanding
anything to the contrary contained in Section 2.3 (a) above, if for any year the
Purchase Volume of a Stockholder for any year subsequent to the Sale of a Store
is less than the "minimum patronization requirement" of such Stockholder
(assuming such Store had not been sold the amount of such deficiency hereinafter
referred to as the "Shortfall" but is greater than the "minimum patronization
requirement" of such Stockholder for all Stores other than such sold Store, then
the Sale of a Store Payment to be made by such Stockholder hereunder for such
year shall be reduced to a fraction thereof, the numerator of which is the
Shortfall, and the denominator of which is the "minimum patronization
requirement" for such sold Store.

      2.4 Qualified Successor. Notwithstanding the foregoing provisions of this
Section 2, if the purchaser acquiror or successor in any Withdrawal or Sale of a
Store is a "qualified successor" (as hereinafter defined), such Stockholder,
upon completion of the Withdrawal or Sale of a Store described in said notice,
shall be relieved of all obligations under this Agreement with respect to such
Withdrawal or Sale of a Store arising at the time of or immediately after the
date of completion of such Withdrawal or Sale of a Store. For purposes of this
Section 2.46, the term "qualified successor" shall mean Wakefern, a direct or
indirect wholly owned subsidiary of Wakefern or any person, firm or corporation
that agrees in writing to be bound by all the provisions of this Agreement and
the By-Laws of Wakefern as in effect from time to time, is financially sound (as
determined by the Board of Directors of Wakefern) and that is neither directly
nor indirectly (a) an operator or owner of a chain of 25 or more supermarkets,
other-

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than ShopRite supermarkets, in the United States, or (b) an owner or operator of
one or more supermarkets, other than ShopRite supermarkets, in any of the States
of New York, New Jersey, Pennsylvania, Delaware, Maryland, Virginia, Connecticut
Massachusetts, Rhode Island, Vermont, New Hampshire or Maine, or in Washington,
D.C.

      2.5 Implementation of Withdrawal Payment and Sale of a Store Payment. The
implementation and mechanics of payment of the Withdrawal Payment and the Sale
of a Store Payment shall be determined by the Board of Directors of Wakefern in
its sole discretion. The Withdrawal Payment may be waived, in whole or in part,
by an affirmative vote of at least two-thirds 2/3 of the members of the Board of
Directors of Wakefern, but in no event less than twelve members of such board

      2.6 [INTENTIONALLY OMITTED]

      2.7 Right of First Refusal. Any Stockholder desiring to effect the Sale of
an Underfacilitated Store to a non-qualified successor in a bona fide
transaction shall first offer to sell such Underfacilitated Store to Wakefern at
the same price and on the same terms and conditions as those proposed in the
transaction between such Stockholder and such purchaser, provided that if such
Underfacilitated Store is not to be disposed of for value (a "Section 2.7(c)
Sale" then Wakefern shall have the right to purchase such Underfacilitated Store
at its "fair value" (determined in accordance with subsection 2.7(c) below) Each
such offer shall be made by written notice to Wakefern, which notice shall
provide full details of the proposed sale, including the identity of the
proposed purchaser (the "Notice"). Wakefern shall have a period the "Offering
Period") of thirty 30) days or, in the case of a Section 2.7(c) Sale,
thirty-five 35 days, in which to accept the offer, which acceptance must be in
writing (the "Acceptance" The selling Stockholder shall cooperate fully with
Wakefern by making available to Wakefern, upon

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reasonable notice, during regular business hours, its books, records, assets and
properties for examination

      (b) In the event that Wakefern declines to purchase such Underfacilitated
Store during the Offering Period, the Stockholder shall have the right, subject
to compliance with all other including those set forth other agreements or rules
including, without limitation, the By-Laws of Wakefern, to dispose of such
Underfacilitated Store upon the terms and conditions (including the price, if
any) so stated in the Notice in a bona fide transaction during the thirty 30)
day period commencing on the earlier to occur of (i Wakefern's rejection by
written notice to the Stockholder of such Stockholder's offer or (ii the
Offering Period expires without Wakefern responding to such Stockholder's offer.
If provisions of this Agreement, in Section 2.3(b) hereof, and all by which the
Stockholder is bound such Underfacilitated Store is not disposed of within such
thirty 30) day period, then such Underfacilitated Store shall once again be
subject to the rights of first refusal set forth in this Section 2.7

      (c) For purposes of Section 2.7(a), "fair value" of an under- facilitated
Store shall be determined as follows: Within ten (10) days of the date of
delivery of the Notice, Wakefern shall appoint one investment banking firm the
"independent investment banking firm" from among the investment banking firms
listed on Schedule 5 hereto (or any other investment banking firm agreed to by
the selling Stockholder Within twenty (20) days after such appointment, the
independent investment banking firm shall determine the fair value of the
Underfacilitated Store, without taking into account any third party offer made
for such Underfacilitated Store and without giving effect to this Agreement.
Wakefern shall pay the fee of the independent investment banking firm. The
selling Stockholder shall cooperate fully with the independent investment
banking firm by making available to such firm, upon reasonable notice, during

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normal business hours, its books, records, assets and properties for
examination. In the case of a Section 2.7(c) Sale, not later than ten 10 days
following its delivery of the Acceptance, Wakefern shall consummate its purchase
of the Underfacilitated Store for a purchase price equal to the fair value
determined in accordance with this subsection 2.7(c). Wakefern shall have the
right to pay the purchase price in any combination of cash, debt and securities
designated by it (the debt or securities so issued shall be (i) redeemable for
cash at the option of Wakefern, (ii) negotiable instruments (as such term is
defined in the Uniform Commercial Code) and (iii) redeemable for cash at the
option of such Stockholder at any time after the second anniversary of the
issuance thereof), provided that the aggregate consideration paid by Wakefern is
in the opinion of the independent investment banking firm equal in value to the
all cash purchase price

      3. MISCELLANEOUS

      3.1. Effectiveness of Agreement. This Agreement shall become effective
upon (i the approval by the Board of Directors of Wakefern of this Agreement and
ii) the execution of counterpart copies hereof by the Stockholders whose
supermarket operations in the aggregate accounted for 75% or more of Wakefern's
total sales of Products during Wakefern's fiscal year ended September 27, 1986.
In the event that both of said conditions shall not have been fulfilled prior to
October 1, 1987, this Agreement shall be null and void and without force or
effect.

      3.2 Successors and Assigns; New Stockholders. This Agreement shall inure
to the benefit of and shall be binding upon the heirs, executors, personal
representatives, successors and assigns of each of the parties hereto,. Each new
holder of Class B or Class C

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Stock of Wakefern,  as a condition  precedent to becoming a holder of such Stock
shall be  required to execute a  counterpart  of this  Agreement,  in which case
references  herein to a "Stockholder" or  "Stockholders"  shall include such new
stockholder.  The  provisions  of this  Agreement  shall not be binding upon any
member-stockholder  of  Wakefern  that  does  not  become  a party  hereto  as a
Stockholder.

      3.3. Governing Law. This Agreement shall be governed by, and shall be
construed and enforced in accordance with, the laws of the State of New Jersey.

      3.4 Entire Agreement. From and after October 4, 1987, this Agreement shall
constitute the entire understanding among the parties hereto with respect to the
subject matter hereof and shall supercede the Stockholders' Agreements by and
among Wakefern and certain of its members dated July 2, 1979 and July 6, 1983
the "Prior Agreements". The rights and obligations of Wakefern under each of the
Prior Stockholders' Agreements shall not be altered or impaired hereby with
respect to any member of Wakefern who does not become a party to this Agreement.
This Agreement may not be changed or amended, nor any of its provisions waived,
discharged or terminated, except by an agreement in writing signed by the
Stockholders whose supermarket operations in the aggregate accounted for 75% or
more of Wakefern's total sales of the Products to Stockholders who are parties
to this Agreement during the fiscal year of Wakefern immediately preceding the
date as of which such change, amendment, waiver, discharge or termination is to
be effectuated.

      3.5. Section Headings.The section headings of this Agreement are for
convenience of reference only and shall not limit or define the text hereof.

      3.6. Counterparts. This Agreement may be executed in counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same agreement among Wakefern and all the Stockholders.

      3.7 Notices. All notices to any party hereto required to be given under
this Agreement

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shall be in writing and sent, by first-class registered or certified mail,
postage prepaid, if to Wakefern, at its principal executive offices (attention
of the President) and if to any Stockholder or any shareholder of any
Stockholder, at. the address of such Stockholder set forth on Schedule 1 hereto.

      3.8. Term of Agreement. This Agreement, and the rights and obligations of
the parties hereto contained herein, shall remain in full force and effect until
the Termination Date (as hereinafter defined). For purposes hereof, the
"Termination Date" shall mean the date which is the tenth anniversary of the
date (hereinafter the "Determination Date") on which the Company receives
written notice signed by the Requisite Stockholders (as hereinafter defined)
requesting that this Agreement be terminated pursuant to this Section 3.8. For
purposes hereof, the term "Requisite Stockholders" shall mean a Stockholder or
group of Stockholders whose supermarket operations, in the aggregate, accounted
for at least 75% of Wakefern's total sales of the Products during the most
recent fiscal year of Wakefern ended prior to the Determination Date to
Stockholders who are parties to this Agreement on the Determination Date.

      IN WITNESS WHEREOF, Wakefern and each of the Stockholders have caused this
Agreement to be duly executed as of the date first above written.

                                           WAKEFERN FOOD CORP.

                                           Thomas P. Infusino
                                           Chairman of the Board

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                                           (Name of Stockholder

                                           -------------------------------------

                                           By:
                                              ----------------------------------
                                              (Duly authorized officer or
                                               partner of Stockholder)

                                           DATED AS OF:______________

                                      E-22EXHIBIT 10.40

                                   - - oOo - -

                          FOODARAMA SUPERMARKETS, INC.
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                                   - - oOo - -

                       Restatement Date: December 31, 2004

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                                Table of Contents

Section                                  Title                             Page

Article I           Name, Effective Date and Purpose                          1

Article II          Definitions                                               2

Article III         Eligibility and Participation                             7

Article IV          Determination of Benefits                                 8

Article V           Distributions                                            11

Article VI          Pre-Retirement Death Benefits                            12

Article VII         Administration of the Plan                               13

Article VIII        Amendment and Termination                                17

Article IX          Miscellaneous                                            18

Appendix A                                                                   24

Appendix B                                                                   25

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                                    Article I
                        Name, Effective Date and Purpose

Section 1.01 -- Name

      The name of the Plan is "Foodarama Supermarkets, Inc. Supplemental
Executive Retirement Plan," hereinafter referred to as the "Plan".

Section 1.02 -- Effective Date

      The effective date of the Plan is January 17, 1989, first restated
effective January 1, 1998 and now further restated effective December 31, 2004.
The Plan is frozen as of December 31, 2004 and benefits will not increase after
that date. Any vested benefits under the Plan as of December 31, 2004 shall be
considered "grandfathered" pursuant to Section 409A of the Code.

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Section 1.03 -- Purpose

      The purpose of the Plan is to provide a select group of management
employees the incentive to remain in employment until age sixty-five (65) by
providing additional benefit security to the employee through the provision of
supplemental retirement benefits, supplemental pre-retirement death benefits,
and supplemental disability benefits.

                                   Article II

                                   Definitions

Section 2.01 -- Actuarial Equivalent

      For Participants and beneficiaries shall be determined using the 1983
Group Annuity Mortality Table blended fifty percent (50%) males and fifty
percent (50%) females, assuming a rate of investment return of eight percent
(8%) compounded annually.

Section 2.02 -- Beneficiary

      Shall mean the individual designated by the Participant to receive any
Pre-retirement Death Benefits or to be a contingent beneficiary for Retirement
Benefits under the Plan.

Section 2.03 -- Board

      Shall mean the Board of Directors of the Employer.

Section 2.04 -- Cause

      Shall mean that the Participant has engaged in any act of willful
misconduct during the course of his employment with the Employer in the
reasonable determination of the Committee, including, but not limited to,
having:

      (a)   Committed an intentional act of fraud, embezzlement, or theft in
            connection with Participant's duties or in the course of his
            employment with Employer;

      (b)   Caused intentional wrongful damage to property of Employer in the
            course of his employment with Employer; or

      (c)   Engaged in any gross misconduct in the course of his employment with
            Employer.

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      (Provided, that with respect to any of the acts described in the preceding
subparagraphs (a) through (c), such act shall have been materially harmful to
Employer). For purposes of this Plan, an act or omission on the part of the
Participant shall be deemed "intentional" if it was not due primarily to an
error in judgment or negligence and was done by a Participant not in good faith
and without reasonable belief that the act or omission was in the best interests
of Employer.

Section 2.05 -- Change of Control

      Shall mean the purchase or acquisition by any person, entity or group of
persons, within the meaning of Section 13(d) or 14(d) of the Securities Exchange
Act of 1934 ("Act"), or any comparable successor provisions, of beneficial
ownership (within the meaning of Rule 13d-3 promulgated under the Act) of more
than 50% of the outstanding shares of common stock or the combined voting power
of Employer's then outstanding voting securities entitled to vote generally, in
or at the election of the directors or the approval by the stockholders of the
Employer of a reorganization, merger, or consolidation, in each case, with
respect to which persons who were stockholders of Employer immediately prior to
such reorganization, merger or consolidation do not, immediately thereafter, own
more than 50 percent of the combined voting power entitled to vote generally in
the election of directors of the reorganized, merged or consolidated Employer's
then outstanding securities, or a liquidation or dissolution of Employer or of
the sale of all or substantially all of Employer's assets.

Section 2.06 -- Code

      Shall mean the Internal Revenue Code of 1986 as amended from time to time.

Section 2.07 -- Committee

      Shall mean the Committee established under the provisions of Article VII.

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Section 2.08 -- Disabled

      Shall mean a physical or mental condition which renders the Participant
incapable of continuing his usual and customary duties with the Employer and can
be expected to result in death or be of a long, continued and indefinite
duration. Disability shall be determined as qualification for Social Security
disability benefits.

Section 2.09 -- Employee

      Shall mean any full-time person who is employed by the Employer.

Section 2.10 -- Employer

      Shall mean Foodarama Supermarkets, Inc.

Section 2.11 -- 401(k) Plan

      Shall mean the Foodarama Supermarkets, Inc. 401(k) Savings Plan.

Section 2.12 -- Founder

      Shall mean Joseph J. Saker.

Section 2.13 -- Final Average Earnings

      Shall mean the annual average of the Participant's Annual Compensation (as
defined in the following sentence) received during any sixty (60) consecutive
calendar months prior to his retirement which produces the highest average. The
term "Annual Compensation" shall mean the total compensation paid to the
Participant by the Employer during any year as reported or reportable on
Internal Revenue Service Form W-2, Box 1 or such successor box which describes
"wages, tips and other compensation," increased by (i) elected deferrals under
the Employer's 401(k) plan; (ii) elected deferrals under the Employer's
"cafeteria plan," including, without limitation, deferrals for medical/dental
insurance premiums, medical expenses and child care; and (iii) compensation paid
pursuant to workers' compensation or disability insurance which is not otherwise
reported on Form W-2, Box 1; and decreased by (i) income attributable to excess
employer paid life insurance; and (ii) income attributable to and resulting from
the award of any equity based incentive by the Employer to the Participant or
the sale of any such equity award by the Participant, including, without

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limitation, income attributable to or resulting from the exercise of stock
options or stock performance units granted by the Employer to the Participant or
assigned to the Participant by other than the Employer or the sale of shares of
stock acquired pursuant to the exercise of any such option. For purposes of
computing the annual average of the Participant's Annual Compensation, if
compensation is prorated for a portion of the first calendar year measured in
such computation, then any bonus or incentive compensation paid to the
Participant in such year shall be excluded for purposes of computing the
Participant's prorated Annual Compensation for such year.

      By way of example, assume that a Participant has elected to retire on
October 1, 2002, and that his Annual Compensation for the ten (10) year period
preceding his retirement is as set forth below and that the Participant was paid
bonus or incentive compensation of $10,000 in each of calendar years 1997, 1998,
1999, 2000, 2001 and 2002.

----------------------------------------------------------------------------
            Calendar Year                          Annual Compensation
----------------------------------------------------------------------------
                1991                                    $  90,000
----------------------------------------------------------------------------
                1992                                       94,000
----------------------------------------------------------------------------
                1993                                       98,000
----------------------------------------------------------------------------
                1994                                      102,000
----------------------------------------------------------------------------
                1995                                      106,000
----------------------------------------------------------------------------
                1996                                      110,000
----------------------------------------------------------------------------
                1997                                      114,000
----------------------------------------------------------------------------
                1998                                      118,000
----------------------------------------------------------------------------
                1999                                      128,000
----------------------------------------------------------------------------
                2000                                      132,000
----------------------------------------------------------------------------
                2001                                      136,000
----------------------------------------------------------------------------
            2002 (through                                 109,500
         September 30, 2002)
----------------------------------------------------------------------------

The annual average of the Participant's Annual Compensation received during the
sixty (60) consecutive calendar months prior to his retirement which produces
the highest average is $129,900. Such amount is determined as follows: ($26,000
for 3 months in 1997 + $118,000 + $128,000 + $132,000 + $136,000 + $109,500) / 5
= $129,900. The prorated Annual Compensation for 1997 is computed as follows:
($114,000-$10,000)=$104,000 x .25 = $26,000.

Annual Compensation earned after December 31, 2004 shall not be considered in
determining a Participant's

                                      E-29
<PAGE>

Final Average Earnings.

Section 2.14 -- Late Retirement Date

      Shall mean the first day of any month following Normal Retirement Date.

Section 2.15 -- Normal Retirement Date

      Shall mean the first day of the calendar month coincident or next
following the Participant's Normal Retirement Age.

Section 2.16 -- Normal Retirement Age

      Shall mean the attainment of age sixty-five (65).

Section 2.17 -- Participant

      Shall mean any Employee who has completed five (5) or more years of
employment with the Employer and has been designated as participating in the
Plan by the Board or their designee and who has a benefit that is payable under
this Plan.

Section 2.18 -- Participation Agreement

      Shall mean the Agreement under which the Board designates the
Participant's annual retirement income as a percentage of compensation and the
Participant designates his beneficiary.

Section 2.19 -- Pension Plan

      Shall mean the Foodarama Supermarkets, Inc. Pension Plan.

Section 2.20 -- Plan

      Shall mean the Foodarama Supermarkets, Inc. Supplemental Executive
Retirement Plan as set forth herein.

Section 2.21 -- Plan Administrator

      Shall mean the Committee under the Plan.

Section 2.22 -- Plan Year

      Shall mean a year which commences on the first date of January and ends on
the last day of December.

                                      E-30
<PAGE>

Section 2.23 -- Vested

      Shall mean that portion of the Participant's benefit which is
non-forfeitable.

                                   Article III

                          Eligibility and Participation

Section 3.01 -- Eligibility

      An Employee of the Employer who:

      (a)   is a member of a select group of management or is a highly
            compensated Employee; and

      (b)   is specifically designated by the Board and notified by the
            Committee of their eligibility to join the Plan

shall become a Participant in the Plan as of the first day of the Plan Year in
which notification occurs subject to meeting the requirements of Section 3.02 of
the Plan.

No Employee shall become a new Participant in the Plan on or after December 31,
2004.

Section 3.02 -- Notification

      The Committee shall notify in writing each Employee whom the Board has
determined is eligible to join the Plan. Upon completion of a Participation
Agreement by the Employee, the Employee's name shall be added to Appendix A as a
Participant of the Plan.

                                      E-31
<PAGE>

                                   Article IV

                            Determination of Benefits

Section 4.01 -- Amount of Supplemental Retirement Benefit

      The amount of benefit that a Participant is entitled to when he retires on
his Normal or Late Retirement date shall be equal to a - (b + c + d) plus (e)
where:

      (a)   Annual benefit percentage from the Participant's Participation
            Agreement times the Participant's Final Average Earnings;

      (b)   Annual benefit from the Pension Plan payable in the form of a one
            hundred and twenty (120) month certain and life annuity.

      (c)   Annual Employer provided benefit from the 401(k) plan. The annual
            Employer provided benefit from the 401(k) Plan shall be the
            Participant's account balance attributable to the Employer profit
            sharing and matching contributions converted to a one hundred and
            twenty (120) month certain and life annuity in accordance with
            Appendix B. In determining the Employer matching contributions, for
            purposes of this Plan it is assumed the Employee elects to defer an
            amount sufficient to receive the maximum Employer matching
            contribution defined by the 401(k) Plan; and

      (d)   The annual benefit derived from the Participant's Social Security.
            Such amount shall be the amount the Participant is actually
            receiving from Social Security upon his Normal or Late Retirement
            date. In the event the Participant has not yet begun to receive
            Social Security benefits as of his Normal or Late Retirement date,
            such amount shall be the amount that would be payable from Social
            Security starting on that date, based on the Participant's actual
            earnings history as reported by Social Security; plus:

      (e)   In addition to the monthly benefit determined under (a) through (d)
            the Participant will receive each month an allowance equal to 50% of
            the regional average monthly premium

                                      E-32
<PAGE>

            required to purchase Medicare Supplement Plan J (or any
            substantially similar successor program), plus 50% of the monthly
            premium required under Medicare Part B. The premium amount shall be
            re-determined each January by the Employer based on regional rates
            for the purchase of such a program. If this benefit is vested under
            the Plan on December 31, 2004, then this entire benefit shall be
            paid solely by this Plan.

Section 4.02 -- Disability Benefits

      Should the Participant become Disabled prior to attainment of Normal
Retirement Age, the Participant shall be entitled to receive an immediate
Disability Benefit based on Final Average Earnings at the date the Participant
became Disabled. The Disability Benefit shall be the annual benefit percentage
determined pursuant to the Participant's Participation Agreement times his Final
Average Earnings offset by payments from any Employer plan of long-term
disability and Social Security payments.

      Upon the attainment of Normal Retirement Age, the Participant's annual
benefit shall be calculated pursuant to Section 4.01 of the Plan utilizing Final
Average Earnings at the time the Participant became disabled.

Section 4.03 -- Vesting

      A Participant shall vest in his benefit upon the attainment of the earlier
of becoming Disabled, in the event of death, Change of Control, or upon
attaining Normal Retirement Age. Any Participant who has terminated employment
prior to these events will not be vested and therefore have no rights to
benefits under this Plan.

      Vesting shall be determined solely based on a Participant's status as of
December 31, 2004. Only those Participants who were vested as of December 31,
2004 shall have any rights to benefits under this Plan.

Section 4.04 -- Loss of Benefits

      A Participant shall forfeit any and all benefits, including those Vested
under the Plan if:

      (a)   The Participant is terminated for Cause.

      (b)   The Participant uses trade secrets in competition with the Employer.
            In the event the Employer determines that a Participant has used or
            is using trade secrets or other confidential, secret or proprietary
            information of the Employer to compete with the

                                      E-33
<PAGE>

            Employer, the Employer shall discontinue all benefit payments to or
            on behalf of the Participant effective thirty (30) days after the
            Employer gives the Participant written notice of its determination.
            Such notice shall be sent registered mail, return receipt requested,
            and shall provide the manner in which the Participant may respond to
            the Employer's determination. If, within one (1) year of the date of
            such notice, the Employer in its sole discretion determines that the
            Participant has ceased to so use such information and that future
            use of such information is not likely to cause substantial detriment
            to the Employer, the Employer, in its sole discretion, may resume
            benefit payments, but any discontinued or missed payments shall be
            forfeited.

                                    Article V

                                  Distributions

Section 5.01 -- Payment of Benefits

      A Participant shall be entitled to receive a distribution of his benefit
following termination of employment on the first day of the month coincident
with or following:

      (a)   Determination of entitlement for disability benefits

      (b)   In the event of the Participant's death

      (c)   The later of the Participant's

            (i)   Normal Retirement Date; or

            (ii)  Late Retirement Date

Section 5.02 -- Form of Distribution

      The Participant shall receive his benefit in the form of a life annuity
with one hundred and twenty (120) monthly payments guaranteed. Should the
Participant die prior to receiving one hundred and twenty (120) monthly
payments, the unpaid installments shall be paid to the Participant's
Beneficiary. If there is no designated Beneficiary, the unpaid installments
shall be paid to the Participant's estate in a lump

                                      E-34
<PAGE>

sum using Actuarial Equivalencies for lump sum payments.

                                   Article VI

                          Pre-Retirement Death Benefits

Section 6.01 -- Pre-Retirement Death Benefit

      If the Participant dies prior to commencement of benefits in the Plan,
then the Participant's Beneficiary shall be entitled to a pre-retirement death
benefit. The amount of benefit that the Beneficiary is entitled to upon the
death of the Participant shall be equal to fifty percent (50%) of the benefit
payable under Section 4.01 that the Participant would have received if the
Participant had retired on the day immediately before his death. For purposes of
calculating the pre-retirement death benefit, the offsets in (b), (c) and (d) in
Section 4.01 shall be calculated at the time of the Participant's death. The
Participant's Beneficiary shall receive the benefit provided in Section 4.01(e)
for a period not to exceed one hundred and twenty (120) months from the date
benefit payments commence from this plan.

Section 6.02 -- Form and Commencement of Benefit

      The Pre-Retirement Death Benefit shall commence on the first day of the
month following the Participant's death. The Pre-Retirement Death Benefit shall
be payable in one hundred and twenty (120) monthly installments. Should the
Participant's Beneficiary die prior to receiving the one hundred and twenty
(120) monthly installments, the unpaid installments shall be paid to a
designated contingent Beneficiary. If there is no designated contingent
Beneficiary, the unpaid installments shall be paid to the Beneficiary's estate
in a lump sum using the Actuarial Equivalencies for lump sum payments.

                                   Article VII

                           Administration of the Plan

Section 7.01 -- Appointment of the Committee

      The day-to-day administration of the Plan, as provided herein, including
the supervision of the

                                      E-35
<PAGE>

payment of all benefits to retired Participants and their Beneficiaries, shall
be vested in and be the responsibility of the Committee which shall be the
Supplemental Executive Retirement Plan Committee of the Employer.

Section 7.02 -- Conduct of Committee Business

      The Committee shall conduct its business and hold meetings as determined
by it from time to time. A majority of the Committee shall have the power to
act, and the concurrence of any member may be by telephone, telegram or letter.
The Committee may delegate any one of its members to carry out specific duties
and to sign appropriate forms and authorizations. In carrying out its duties,
the Committee may, from time to time, employ an administrative organization and
agents and may delegate to them ministerial and limited discretionary duties as
it sees fit, and may consult with counsel, who may be counsel to the Employer.

Section 7.03 -- Committee Officers, Subcommittees, and Agents

      The Committee shall elect from its members a Chairman and shall appoint
such subcommittees as it shall deem necessary and appropriate, and may authorize
one (1) or more of its members or any agent to execute or deliver any instrument
on its behalf and do any and all other things necessary and proper in the
administration of the Plan.

Section 7.04 -- Expenses of the Committee and Plan Costs

      The expenses of administering the Plan, including the printing of
literature and forms related thereto, the disbursement of benefits thereunder,
and the compensation of administrative organizations, agents, actuary, or
counsel shall be paid by the Employer.

Section 7.05 -- Records of the Committee

      The Committee shall keep a record of all its proceedings, which shall be
open to inspection by the Employer.

                                      E-36
<PAGE>

Section 7.06 -- Committee's Right to Administer and Interpret the Plan

      The Committee shall have the absolute power, discretion, and authority to
administer and interpret the Plan, to determine benefit eligibility and to adopt
such rules and regulations as in the opinion of the Committee are necessary or
advisable to implement, administer, and interpret the Plan, or to transact its
business. Such rules and regulations as adopted by the Committee shall be
binding upon any persons having an interest in or under the Plan.

Section 7.07 -- Claims Procedure

      A claim for benefits under the Plan must be made in writing to the
Committee. The applicant shall be notified in writing of any adverse decision
with respect to his claim within ninety (90) days after its submission. The
notice shall be written in a manner calculated to be understood by the applicant
and shall include:

      (a)   the specific reason or reasons for the denial;

      (b)   specific references to the pertinent Plan provisions on which the
            denial is based;

      (c)   a description of any additional material or information necessary
            for the applicant to perfect the claim and an explanation why such
            material or information is necessary;

      (d)   an explanation of the Plan's claim review procedures; and

      (e)   a statement of the applicant's right to bring civil action under
            ERISA.

      If special circumstances require an extension of time for processing the
initial claim, a written notice of the extension and the reason therefor shall
be furnished to the claimant before the end of the initial ninety (90) day
period. In no event shall such extension exceed ninety (90) days.

      In the event a claim for benefits is denied or if the applicant has had no
response to such claim within ninety (90) days of its submission, the applicant,
at the applicant's sole expense, may appeal the denial to the Committee within
sixty (60) days of the receipt of written notice of denial. In pursuing such
appeal the applicant may:

      (a)   request in writing that the Committee review the denial;

      (b)   review all relevant documents, records, and other information
            relevant to the claim; and

      (c)   submit issues and comments in writing.

      The decision on review shall be made within sixty (60) days of receipt of
the request for review, unless special circumstances require an extension of
time for processing, in which case a decision shall be rendered

                                      E-37
<PAGE>

as soon as possible, but not later than one hundred twenty (120) days after
receipt of a request for review. If such an extension of time is required,
written notice of the extension shall be furnished to the claimant before the
end of the original sixty (60) day period which explains the reasons for the
extension and the date a decision is expected. The decision on review shall be
written in a manner calculated to be understood by the applicant, and shall
include:

      (a)   specific references to the pertinent Plan provisions on which such
            denial is based;

      (b)   a statement that applicants can receive free of charge copies of all
            documents, records, and other information relevant to the claim;

      (c)   a statement describing the applicant's right to bring civil action
            under ERISA; and

      (d)   a description of voluntary appeals procedures, if any, offered by
            the Plan.

Section 7.08 -- Responsibility and Authority of the Committee

      The responsibilities and authority of the Committee shall not exceed the
limitations of this Article VII. The Committee shall direct the Employer, an
insurance company, or the trustees of a rabbi trust to make payments to
Participants or Beneficiaries as provided under the Plan.

Section 7.09 -- Indemnity of the Committee

      The Employer shall indemnify and hold harmless the members of the
Committee against any and all claims, loss, damage, expense or liability arising
from any action or failure to act with respect to this Plan, except as limited
by law.

                                  Article VIII

                            Amendment and Termination

Section 8.01 -- Amendment

      The Employer, acting through it Board, reserves the right to amend the
Plan at any time. However, no amendment shall reduce the Participant's right to
the benefits defined by their Participation

                                      E-38
<PAGE>

Agreement upon becoming vested as of the amendment date. Any such amendment
shall be made pursuant to a resolution of the Board.

Section 8.02 -- Termination

      The Employer, acting through its Board, reserves the right to terminate
the Plan at any time. If the Board has elected to permanently cease the Plan,
the Plan shall be considered a frozen Plan and a distribution shall not be made
to a Participant until the occurrence of an event described in Section 5.01 of
the Plan. If the Pension Plan is terminated, no additional Participation
Agreement shall become part of this Plan. The Plan shall be treated as a frozen
plan unless the Board elects to terminate the Plan. If the Plan is terminated
for whatever reason, the Participant's benefit shall be paid in a lump sum
ninety (90) days after the termination of the Plan. The lump sum shall be the
Actuarial Equivalent of the Participant's benefit under the Plan as of the
Plan's termination date.

                                      E-39
<PAGE>

                                   Article IX

                                  Miscellaneous

Section 9.01 -- Unsecured Creditor

      Participants and their Beneficiaries, heirs and successors under this Plan
shall have solely those rights of an unsecured creditor of the Employer. Any and
all assets of the Employer shall not be deemed to be held in trust for any
Participant, their Beneficiaries, heirs and successors, nor shall any assets be
considered security for the performance of obligations of the Employer and said
assets shall at all times remain unpledged, unrestricted general assets of the
Employer. The Employer's obligation under the Plan shall be an unsecured and
unfunded promise to pay benefits at a future date.

Section 9.02 -- Unfunded Plan

      This Plan is an unfunded plan maintained to provide retirement benefits
for a select group of management and highly compensated employees. Any
Participant's benefit under the Plan is maintained for recordkeeping purposes
only and is not to be construed as funded. Notwithstanding the unfunded status
of the Plan, the Employer may establish a grantor trust pursuant to Section 677
of the Code to hold assets under the Plan.

Section 9.03 -- Non-Assignability

      The Participants and their Beneficiaries, heirs and successors shall not
have any right to commute, sell, pledge, assign, transfer or otherwise convey
the right to receive any payment under this Plan. The right to any payment of
benefits shall be non-assignable and non-transferable. Such right to payment
shall not be subject to legal process or levy of any kind.

                                      E-40
<PAGE>

Section 9.04 -- Not A Contract of Employment

      The terms and conditions of this Plan shall not be deemed to constitute a
contract of employment between the Employer and the Participant. Moreover,
nothing in this Plan shall be deemed to give a Participant the right to be
retained in the service of the Employer or to interfere with the right of the
Employer to discipline or discharge him at any time.

Section 9.05 -- Successor Organizations

      The Employer agrees that it will not merge or consolidate with any other
corporation or organization, or permit its business activities to be taken over
by any other organization, unless and until the succeeding or continuing
organization or corporation assumes the rights and obligations under this Plan.
If the successor organization refuses to accept the rights and obligations of
this Plan, all benefits will vest and the Plan shall terminate prior to the
consolidation, merger or business takeover. Benefits shall be calculated and
distributed pursuant to Section 8.02 of the Plan.

Section 9.06 -- Governing Law

      Subject to the provisions of the Employer Retirement Income Security Act
of 1974 and to the extent not superseded by Federal law, the Plan shall be
construed, administered and enforced under the laws of the State of New Jersey.

Section 9.07 -- Binding Agreement

      This Plan shall be binding on the parties hereto, their heirs, executors,
administrators, and successors in interest.

Section 9.08 -- Invalidity of Certain Provisions

      If any provision of this Plan is held invalid or unenforceable, such
invalidity or unenforceability shall not affect any other provision hereof and
this Plan shall be construed and enforced as if such provision had not been
included.

Section 9.09 -- Masculine, Feminine, Singular and Plural

      The masculine shall include the feminine and the singular shall include
the plural and the plural

                                      E-41
<PAGE>

the singular wherever the person or entity or context shall plainly so require.

Section 9.10 -- Withholding Taxes

      The Committee shall make any appropriate arrangements to deduct from all
amounts paid under the Plan any taxes required to be withheld by any government
or governmental agency.

Section 9.11 -- Incapacity

      In the event that any Participant is unable to care for his affairs
because of illness or accident, any payment due may be paid to the Participant's
spouse, parent, brother, sister or other person deemed by the Committee to have
incurred expenses for the care of such Participant, unless a duly qualified
guardian or other legal representative has been appointed.

Section 9.12 -- Number of Counterparts

      This Plan may be executed in any number of counterparts, each of which
when duly executed by the Employer shall be deemed to be an original, but all of
which shall together constitute but one instrument, which may be evidenced by
any counterpart.

Section 9.13 - Special Benefit Adjustments

      Founder - With respect to the Founder, the following shall supersede
Sections 4.01(e), 5.02, 6.01 and 6.02 of the Plan.

      (i)   Form of Distribution - The Founder shall receive his benefit,
            calculated in accordance with Sections 4.01(a) though 4.01(d), in
            the form of a joint and contingent survivor pension payable to and
            during the lifetime of the retired Founder with the provision that
            following his death after commencement of benefits in the Plan, such
            benefit shall continue to be paid to and during the lifetime of
            Gloria Saker, should she survive the Founder, at the same rate. No
            benefit shall be payable to any Beneficiary or to the Founder's
            estate, regardless of the number of monthly payments received by the
            Founder and Gloria Saker prior to their respective deaths.

      (ii)  Supplemental Health Coverage - In lieu of the benefit provided in
            Section 4.01(e), the

                                      E-42
<PAGE>

            Founder and Gloria Saker shall receive, for their respective
            lifetimes, all premiums for supplemental medical insurance for
            purposes of supplementing Medicare primary coverage and a family
            dental insurance policy. This benefit is fully vested under this
            Plan and shall be paid solely by this Plan.

      (iii) Pre-Retirement Death Benefit - If the Founder dies prior to
            commencement of benefits in the Plan, then Gloria Saker, should she
            survive the Founder, shall be entitled to a pre-retirement death
            benefit. The amount of the benefit shall be equal to one hundred
            percent (100%) of the benefit payable under Section 4.01 that the
            Founder would have received if the Founder had retired on the day
            immediately before his death. For purposes of calculating the
            pre-retirement death benefit, the offsets in (b), (c) and (d) in
            Section 4.01 shall be calculated at the time of the Founder's death.
            The pre-retirement death benefit shall commence on the first day of
            the month following the Founder's death and shall be payable to and
            during the lifetime of Gloria Saker. In lieu of the benefit provided
            in Section 4.01(e), Gloria Saker shall be entitled to the benefit
            described in Section 9.13(ii), commencing at the same time as her
            pre-retirement death benefit and lasting for her lifetime.

            In the event Gloria Saker does not survive the Founder, no benefit
            shall be payable to any Beneficiary or to the Founder's estate.
            Furthermore, no benefit shall be payable to any Beneficiary or to
            the Founder's estate following the death of Gloria Saker, regardless
            of the number of monthly payments received by Gloria Saker prior to
            her death.

                                      E-43
<PAGE>

      IN WITNESS WHEREOF, This Plan has been adopted this ______________ day of
_____________________, 2005.

Attest:                                     FOODARAMA SUPERMARKETS, INC.

By: _________________________               By:_________________________________

                                               _________________________________
                                                          Title

                                      E-44
<PAGE>

                                   APPENDIX A

                                PLAN PARTICIPANTS

Emory Altobelli
James Felton
H. James Krasner, Jr.
Carl Montanaro
Anthony Popolillo
Joseph J. Saker
Thomas Saker
Joseph J. Saker, Jr.
Richard Saker
Michael Shapiro
Robert V. Spires
Joseph C. Troilo
Edward Turkot

                                      E-45
<PAGE>

                                   APPENDIX B

              DEFINED CONTRIBUTION PLAN ANNUITY CONVERSION FACTORS

           ---------------------------------------------------------------
                  Age          Factor               Age        Factor
                  ---          ------               ---        ------

                  45             6.83%              61          8.33%
                  46             6.89%              62          8.48%
                  47             6.95%              63          8.63%
                  48             7.02%              64          8.79%
                  49             7.09%              65          8.96%
                  50             7.16%              66          9.14%
                  51             7.24%              67          9.32%
                  52             7.32%              68          9.51%
                  53             7.41%              69          9.70%
                  54             7.50%              70          8.89%
                  55             7.60%              71         10.09%
                  56             7.71%              72         10.30%
                  57             7.82%              73         10.50%
                  58             7.94%              74         10.70%
                  59             8.06%              75         10.90%
                  60             8.19%

           ---------------------------------------------------------------

Basis: 1983 Group Annuity Mortality Table (50% male)
       Interest = 6%

To convert the balance of employer-provided 401(k) matching and profit sharing
contributions to an annual annuity, payable for the participant's life with 120
payments guaranteed, multiply the balance by these factors. The Supplemental
Executive Retirement Plan benefit must be offset by this annuity.

For example, for each $1,000 in the balance at age 65, reduce the annual
Supplemental Executive Retirement Plan benefit by $89.60.

                                      E-46

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