Document:

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                                                                     EXHIBIT 4.4

                                                               EXECUTION VERSION

                                 SWIFT & COMPANY

              12 1/2% SENIOR SUBORDINATED NOTES DUE JANUARY 1, 2010

                          REGISTRATION RIGHTS AGREEMENT

                                                              New York, New York
                                                                  March 26, 2003

Salomon Smith Barney Inc.
J.P. Morgan Securities Inc.

As Representatives of the Initial Purchasers
c/o Salomon Smith Barney Inc.
388 Greenwich Street
New York, New York 10013

Dear Sirs:

         ConAgra Foods, Inc., a corporation organized under the laws of the
State of Delaware (the "SELLING NOTEHOLDER"), proposes to sell to Salomon Smith
Barney Inc. and J.P. Morgan Securities Inc. (the "INITIAL PURCHASERS")
$150,000,000 aggregate principal amount of 12 1/2% Senior Subordinated Notes due
January 1, 2010 (the "NOTES" and, together with the Guarantees (as defined
below), the "SECURITIES") issued by Swift & Company, a corporation organized
under the laws of the State of Delaware (the "COMPANY"), upon the terms set
forth in a Purchase Agreement, dated as of March 21, 2003, between the Selling
Noteholder, the Company, S&C Holdco 3, Inc., the subsidiary guarantors signatory
thereto and the Initial Purchasers (the "PURCHASE AGREEMENT") relating to the
initial placement of the Securities (the "INITIAL PLACEMENT"). The Notes are
guaranteed (the "GUARANTEES") on an unsecured senior basis by S&C Holdco 3, Inc.
and each of the Company's direct and indirect domestic subsidiaries set forth on
the signature page hereto (the "GUARANTORS"). An affiliate of the Selling
Noteholder (the "CONAGRA AFFILIATE") has agreed to purchase from the Initial
Purchasers, and the Initial Purchasers have agreed to sell to the ConAgra
Affiliate, $30,000,000 in principal amount of the Notes (the "CONAGRA NOTES").
To induce the Initial Purchasers to enter into the Purchase Agreement and to
satisfy a condition of your obligations thereunder, the Company and the
Guarantors agree with you for your benefit and the benefit of the holders from
time to time of the Securities (including the Initial Purchasers and the ConAgra
Affiliate) (each a "HOLDER" and, together, the "HOLDERS"), as follows:

         1. Definitions. Capitalized terms used herein without definition shall
have their respective meanings set forth in the Purchase Agreement. As used in
this Agreement, the following capitalized defined terms shall have the following
meanings:

         "Act" shall mean the Securities Act of 1933, as amended, and the rules
and regulations of the Commission promulgated thereunder.

         "Affiliate" of any specified Person shall mean any other Person that,
directly or indirectly, is in control of, is controlled by, or is under common
control with, such specified Person. For purposes of this definition, control of
a Person shall mean the power, direct or indirect, to direct or cause

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the direction of the management and policies of such Person whether by contract
or otherwise; and the terms "controlling" and "controlled" shall have meanings
correlative to the foregoing.

         "Broker-Dealer" shall mean any broker or dealer registered as such
under the Exchange Act.

         "Business Day" shall mean any day other than a Saturday, a Sunday or a
legal holiday or a day on which banking institutions or trust companies are
authorized or obligated by law to close in New York City.

         "Commission" shall mean the Securities and Exchange Commission.

         "ConAgra" shall mean ConAgra Foods, Inc., a Delaware corporation.

         "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended, and the rules and regulations of the Commission promulgated thereunder.

         "Exchange Offer Registration Period" shall mean the 180-day period
following the consummation of the Registered Exchange Offer, exclusive of any
period during which any stop order shall be in effect suspending the
effectiveness of the Exchange Offer Registration Statement.

         "Exchange Offer Registration Statement" shall mean a registration
statement of the Company and the Guarantors on an appropriate form under the Act
with respect to the Registered Exchange Offer, all amendments and supplements to
such registration statement, including post-effective amendments thereto, in
each case including the Prospectus contained therein, all exhibits thereto and
all material incorporated by reference therein.

         "Exchanging Dealer" shall mean any Holder (which may include any
Initial Purchaser) that is a Broker-Dealer and elects to exchange for New
Securities any Securities that it acquired for its own account as a result
of market-making activities or other trading activities (but not directly from
the Company or any Affiliate of the Company) for New Securities.

         "Final Memorandum" shall have the meaning set forth in the Purchase
Agreement.

         "Holder" shall have the meaning set forth in the preamble hereto.

         "Indenture" shall mean the Indenture relating to the Securities, dated
as of September 19, 2002, between the Company, the Guarantors and The Bank of
New York Trust Company of Florida, N.A., as trustee, as the same may be amended
from time to time in accordance with the terms thereof.

         "Initial Placement" shall have the meaning set forth in the preamble
hereto.

         "Initial Purchaser" shall have the meaning set forth in the preamble
hereto.

         "Losses" shall have the meaning set forth in Section 7(d) hereof.

         "Majority Holders" shall mean the Holders of a majority of the
aggregate principal amount of Securities registered under a Registration
Statement.

         "Managing Underwriters" shall mean the investment banker or investment
bankers and manager or managers that shall administer an underwritten offering.

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         "New Securities" shall mean debt securities of the Company and the
Guarantors identical in all material respects to the Securities (except that the
cash interest and interest rate step-up provisions and the transfer restrictions
shall be modified or eliminated, as appropriate) and to be issued under the
Indenture or the New Securities Indenture.

         "New Securities Indenture" shall mean an indenture between the Company,
the Guarantors and the New Securities Trustee, identical in all material
respects to the Indenture (except that the cash interest and interest rate
step-up provisions will be modified or eliminated, as appropriate).

         "New Securities Trustee" shall mean a bank or trust company reasonably
satisfactory to the Initial Purchasers, as trustee with respect to the New
Securities under The New Securities Indenture.

         "Prospectus" shall mean the prospectus included in any Registration
Statement (including, without limitation, a prospectus that discloses
information previously omitted from a prospectus filed as part of an effective
registration statement in reliance upon Rule 430A under the Act), as amended or
supplemented by any prospectus supplement, with respect to the terms of the
offering of any portion of the Securities or the New Securities covered by such
Registration Statement, and all amendments and supplements thereto and all
material incorporated by reference therein.

         "Purchase Agreement" shall have the meaning set forth in the preamble
hereto.

         "Registered Exchange Offer" shall mean the proposed offer of the
Company to issue and deliver to the Holders of the Securities that are not
prohibited by any law or policy of the Commission from participating in such
offer, in exchange for the Securities, a like aggregate principal amount of the
New Securities.

         "Registration Statement" shall mean any Exchange Offer Registration
Statement or Shelf Registration Statement that covers any of the Securities or
the New Securities pursuant to the provisions of this Agreement, any amendments
and supplements to such registration statement, including post-effective
amendments (in such case including the Prospectus contained therein), all
exhibits thereto and all material incorporated by reference Therein.

         "Second Private Placement" shall mean a private placement of the
ConAgra Notes.

         "Securities" shall have the meaning set forth in the preamble hereto.

         "Shelf Registration" shall mean a registration effected pursuant to
Section 3 hereof.

         "Shelf Registration Period" has the meaning set forth in Section
3(b)(ii) hereof.

         "Shelf Registration Statement" shall mean a "shelf" registration
statement of the Company and the Guarantors pursuant to the provisions of
Section 3 hereof which covers some or all of the Securities or New Securities,
as applicable, on an appropriate form under Rule 415 under the Act, or any
similar rule that may be adopted by the Commission, amendments and supplements
to such registration statement, including post-effective amendments, in each
case including the Prospectus contained therein, all exhibits thereto and all
material incorporated by reference therein.

         "Trustee" shall mean the trustee with respect to the Securities under
the Indenture.

         "underwriter" shall mean any underwriter of Securities in connection
with an offering thereof under a Shelf Registration Statement.

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         2. Registered Exchange Offer.

                  (a) The Company and the Guarantors shall prepare and, not
later than 270 days following the date of the sale of the Securities (or if such
270th day is not a Business Day, the next succeeding Business Day), shall file
with the Commission the Exchange Offer Registration Statement with respect to
the Registered Exchange Offer. The Company and the Guarantors shall use their
respective reasonable best efforts to cause the Exchange Offer Registration
Statement to become effective under the Act within 360 days of the date of the
sale of the Securities (or if such 360th day is not a Business Day, the next
succeeding Business Day); provided, however,  that the Company and the
Guarantors may not, without the prior written consent of ConAgra, file the
Exchange Offer Registration Statement prior to the earlier of (i) notification
from ConAgra of the completion of the Second Private Placement or (ii) 180 days
following the sale of the Securities.

                  (b) Upon the effectiveness of the Exchange Offer Registration
Statement, the Company and the Guarantors shall promptly commence the Registered
Exchange Offer, it being the objective of such Registered Exchange Offer to
enable each Holder electing to exchange Securities for New Securities (assuming
that such Holder is not an Affiliate of the Company, acquires the New Securities
in the ordinary course of such Holder's business, has no arrangements with any
Person to participate in the distribution of the New Securities and is not
prohibited by any law or policy of the Commission from participating in the
Registered Exchange Offer) to trade such New Securities from and after their
receipt without any limitations or restrictions under the Act and without
material restrictions under the securities laws of a substantial proportion of
the several states of the United States.

                  (c) In connection with the Registered Exchange Offer, the
Company and the Guarantors shall:

                           (i) mail to each Holder a copy of the Prospectus
         forming part of the Exchange Offer Registration Statement, together
         with an appropriate letter of transmittal and related documents;

                           (ii) keep the Registered Exchange Offer open for not
         less than 20 Business Days and not more than 30 Business Days after the
         date notice thereof is mailed to the Holders (or, in each case, longer
         if required by applicable law);

                           (iii) use their respective reasonable best efforts to
         keep the Exchange Offer Registration Statement continuously effective
         under the Act, supplemented and amended as required under the Act, to
         ensure that it is available for sales of New Securities by Exchanging
         Dealers during the Exchange Offer Registration Period;

                           (iv) utilize the services of a depositary for the
         Registered Exchange Offer with an address in the Borough of Manhattan
         in New York City, which may be the Trustee, the New Securities Trustee
         or an Affiliate of either of them;

                           (v) permit Holders to withdraw tendered Securities at
         any time prior to the close of business, New York time, on the last
         Business Day on which the Registered Exchange Offer is open;

                           (vi) prior to effectiveness of the Exchange Offer
         Registration Statement, if requested by the Commission, provide a
         supplemental letter to the

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         Commission (A) stating that the Company and the Guarantors are
         conducting the Registered Exchange Offer in reliance on the position of
         the Commission in Exxon Capital Holdings Corporation (pub. avail. May
         13, 1988) and Morgan Stanley and Co., Inc. (pub. avail. June 5, 1991);
         and (B) including a representation that the Company and the Guarantors
         have not entered into any arrangement or understanding with any Person
         to distribute the New Securities to be received in the Registered
         Exchange Offer and that the Company and the Guarantors will not issue
         New Securities to any Holder participating in the Registered Exchange
         Offer who fails to certify to the Company that such Holder is acquiring
         the New Securities in the ordinary course of business and has no
         arrangement or understanding with any Person to participate in the
         distribution of the New Securities; and

                           (vii) comply in all respects with all applicable
         laws.

                  (d) As soon as practicable after the close of the Registered
Exchange Offer, the Company and The Guarantors shall:

                           (i) accept for exchange all Securities tendered and
         not validly withdrawn pursuant to the Registered Exchange Offer;

                           (ii) deliver to the Trustee for cancellation in
         accordance with Section 5(s) all Securities so accepted for exchange;
         and

                           (iii) cause the Trustee or the New Securities
         Trustee, as the case may be, promptly to authenticate and deliver to
         each Holder of Securities a principal amount of New Securities equal to
         the principal amount of the Securities of such Holder so accepted for
         exchange.

                  (e) Each Holder hereby acknowledges and agrees that any
Broker-Dealer and any such Holder using the Registered Exchange Offer to
participate in a distribution of the New Securities, if the resales are of New
Securities obtained by such Holder in exchange for Securities acquired by such
Holder directly from the Company or one of its Affiliates, (x) could not under
Commission policy as in effect on the date of this Agreement rely on the
position of the Commission in Morgan Stanley and Co., Inc. (pub. avail. June 5,
1991) and Exxon Capital Holdings Corporation (pub. avail. May 13, 1988), as
interpreted in the Commission's letter to Shearman & Sterling dated July 2, 1993
and similar no-action letters; and (y) must comply with the registration and
prospectus delivery requirements of the Act in connection with any secondary
resale transaction and such transaction must be covered by an effective
registration statement containing the selling security holder information
required by Item 507 or 508, as applicable, of Regulation S-K under the Act.
Accordingly, each Holder participating in the Registered Exchange Offer shall be
required to represent in writing to the Company and the Guarantors that, at the
time of the consummation of the Registered Exchange Offer:

                           (i) any New Securities received by such Holder will
         be acquired in the ordinary course of business;

                           (ii) such Holder will have no arrangement or
         understanding with any Person to participate in the distribution of the
         Securities or the New Securities within the meaning of the Act; and

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                           (iii) such Holder is not an Affiliate of the Company
         or any of the Guarantors (or if it is, that it will comply with the
         registration and prospectus delivery requirements of the Act to the
         extent applicable).

                  (f) If any Initial Purchaser determines that it is not
eligible to participate in the Registered Exchange Offer with respect to the
exchange of Securities constituting any portion of an unsold allotment, at the
request of such Initial Purchaser, the Company and the Guarantors shall issue
and deliver to such Initial Purchaser or the Person purchasing New Securities
registered under a Shelf Registration Statement as contemplated by Section 3
hereof from such Initial Purchaser, in exchange for such Securities, a like
principal amount of New Securities. The Company and the Guarantors shall use
their respective best efforts to cause the CUSIP Service Bureau to issue the
same CUSIP number for such New Securities as for New Securities issued pursuant
to the Registered Exchange Offer.

         3. Shelf Registration.

                  (a) If (i) due to any change in law or applicable
interpretations thereof by the Commission's staff, the Company determines upon
advice of its outside counsel that it is not permitted to effect the Registered
Exchange Offer as contemplated by Section 2 hereof; or (ii) for any other reason
the Exchange Offer Registration Statement is not declared effective by the
Commission under the Act within 360 days of the date of the sale of the
Securities or the Registered Exchange Offer is not consummated within 30
Business Days of the date of the effectiveness of the Exchange Offer
Registration Statement; (iii) any Initial Purchaser so requests with respect to
Securities that are not eligible to be exchanged for New Securities in the
Registered Exchange Offer and that are held by it following consummation of the
Registered Exchange Offer; (iv) any Holder (other than an Initial Purchaser) is
not eligible to participate in the Registered Exchange Offer or does not receive
freely tradable New Securities in the Registered Exchange Offer (it being
understood that the requirement that a participating Broker-Dealer deliver the
prospectus contained in the Exchange Offer Registration Statement in connection
with sales of New Securities shall not result in such New Securities being not
"freely tradable"); or (v) in the case of any Initial Purchaser that
participates in the Registered Exchange Offer or acquires New Securities
pursuant to Section 2(f) hereof, such Initial Purchaser does not receive freely
tradeable New Securities in exchange for Securities constituting any portion of
an unsold allotment, other than by reason of such Holder being an Affiliate of
the Company (it being understood that (x) the requirement that an Initial
Purchaser deliver a Prospectus containing the information required by Item 507
or 508 of Regulation S-K under the Act in connection with sales of New
Securities acquired in exchange for such Securities shall not result in such New
Securities being not "freely tradeable"; and (y) the requirement that an
Exchanging Dealer deliver a Prospectus in connection with sales of New
Securities acquired in the Registered Exchange Offer in exchange for Securities
acquired as a result of market-making activities or other trading activities
shall not result in such New Securities being not "freely tradeable"), the
Company and the Guarantors shall effect a Shelf Registration Statement in
accordance with subsection (b) below.

                  (b) (i) The Company and the Guarantors shall as promptly as
practicable (but in no event more than 90 days after so required or requested
pursuant to this Section 3), file with the Commission and thereafter shall use
their respective reasonable best efforts to cause to be declared effective under
the Act a Shelf Registration Statement relating to the offer and sale of the
Securities or the New Securities, as applicable, by the Holders thereof from
time to time in accordance with the methods of distribution elected by such
Holders and set forth in such Shelf Registration Statement; provided, however,
that no Holder (other than an Initial Purchaser) shall

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be entitled to have the Securities held by it covered by such Shelf Registration
Statement unless such Holder agrees in writing to be bound by all of the
provisions of this Agreement applicable to such Holder; and provided further,
that with respect to New Securities received by an Initial Purchaser in exchange
for Securities constituting any portion of an unsold allotment, the Company and
the Guarantors may, if permitted by current interpretations by the Commission's
staff, file a post-effective amendment to the Exchange Offer Registration
Statement containing the information required by Item 507 or 508 of Regulation
S-K, as applicable, in satisfaction of their obligations under this subsection
with respect thereto, and any such Exchange Offer Registration Statement, as so
amended, shall be referred to herein as, and governed by the provisions herein
applicable to, a Shelf Registration Statement.

                           (ii) The Company and the Guarantors shall use their
         respective reasonable best efforts to keep the Shelf Registration
         Statement continuously effective, supplemented and amended as required
         by the Act, in order to permit the Prospectus forming part thereof to
         be usable by Holders for a period of 180 days from the date the Shelf
         Registration Statement is declared effective by the Commission or such
         shorter period that will terminate when all the Securities or New
         Securities, as applicable, covered by the Shelf Registration Statement
         have been sold pursuant to the Shelf Registration Statement (in any
         such case, such period being called the "SHELF REGISTRATION PERIOD").
         The Company and the Guarantors shall be deemed not to have used their
         respective reasonable best efforts to keep the Shelf Registration
         Statement effective during the requisite period if they voluntarily
         take any action that would result in Holders of Securities covered
         thereby not being able to offer and sell such Securities during that
         period, unless (A) such action is required by applicable law; or (B)
         such action is taken by the Company and the Guarantors in good faith
         and for valid business reasons (not including avoidance of the Company
         and the Guarantors' obligations hereunder), including the acquisition
         or divestiture of assets (to the extent permitted by the terms of the
         Indenture), so long as the Company and the Guarantors promptly
         thereafter comply with the requirements of Section 5(k) hereof, if
         applicable.

                           (iii) The Company and the Guarantors shall cause the
         Shelf Registration Statement and the related Prospectus and any
         amendment or supplement thereto, as of the effective date of the Shelf
         Registration Statement or such amendment or supplement, (A) to comply
         in all material respects with the applicable requirements of the Act;
         and (B) not to contain any untrue statement of a material fact or omit
         to state a material fact required to be stated therein or necessary in
         order to make the statements therein, in the light of the circumstances
         under which they were made, not misleading.

         4. Special Interest. If (a) on or prior to the 270th day following the
sale of the Securities, the Exchange Offer Registration Statement has not been
filed with the Commission or on or prior to the 90th day after the obligation to
file the Shelf Registration Statement has arisen, the Shelf Registration
Statement has not been filed with the Commission, (b) on or prior to the 360th
day following the sale of the Securities, the Exchange Offer Registration
Statement has not been declared effective by the Commission, (c) on or prior to
the 30th Business Day following the date the Exchange Offer Registration
Statement is declared effective, the Registered Exchange Offer has not been
consummated, or (d) after either the Exchange Offer Registration Statement or
the Shelf Registration Statement has been declared effective, such Registration
Statement thereafter ceases to be effective or usable in connection with resales
of Securities or New Securities in accordance with and during the periods
specified in this Agreement (each such event referred to in clauses (a) through
(d), a ("REGISTRATION DEFAULT"), interest ("SPECIAL INTEREST") will accrue on
the principal amount of the Securities and the New Securities (in addition to
the stated interest on the Securities and New Securities) from and including
the date on which

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any such Registration Default shall occur to but excluding the date on which all
Registration Defaults have been cured. Special Interest will accrue at a rate of
0.25% per annum during the 90-day period immediately following the occurrence of
such Registration Default and shall increase by 0.25% per annum at the end of
each subsequent 90-day period, but in no event shall such rate exceed 1.00% per
annum.

         All obligations of the Company and the Guarantors set forth in the
preceding paragraph that are outstanding with respect to any Security at the
time such Security is exchanged for a New Security shall survive until such time
as all such obligations with respect to such Security have been satisfied in
full.

         5. Additional Registration Procedures. In connection with any Shelf
Registration Statement and, to the extent applicable, any Exchange Offer
Registration Statement, the following provisions shall apply.

                  (a). The Company and the Guarantors shall:

                           (i) furnish to you, not less than five Business Days
         prior to the filing thereof with the Commission, a copy of any Exchange
         Offer Registration Statement and any Shelf Registration Statement, and
         each amendment thereof and each amendment or supplement, if any, to the
         Prospectus included therein (including, upon request, all documents
         incorporated by reference therein after the initial filing) and shall
         use their respective reasonable best efforts to reflect in each such
         document, when so filed with the Commission, such comments as you
         reasonably propose;

                           (ii) include the information set forth in Annex A
         hereto on the facing page of the Exchange Offer Registration Statement,
         in Annex B hereto in the forepart of the Exchange Offer Registration
         Statement in a section setting forth details of the Exchange Offer, in
         Annex C hereto in the underwriting or plan of distribution section of
         the Prospectus contained in the Exchange Offer Registration Statement,
         and in Annex D hereto in the letter of transmittal delivered pursuant
         to the Registered Exchange Offer;

                           (iii) if requested by an Initial Purchaser, include
         the information required by Item 507 or 508 of Regulation S-K, as
         applicable, in the Prospectus contained in the Exchange Offer
         Registration Statement; and

                           (iv) in the case of a Shelf Registration Statement,
         include the names of the Holders that propose to sell Securities
         pursuant to the Shelf Registration Statement as selling security
         holders.

                  (b) The Company and the Guarantors shall ensure that:

                           (i) any Registration Statement and any amendment
         thereto and any Prospectus forming part thereof and any amendment or
         supplement thereto complies in all material respects with the Act and
         the rules and regulations thereunder; and

                           (ii) any Registration Statement and any amendment
         thereto does not, when it becomes effective, contain an untrue
         statement of a material fact or omit to state a material fact required
         to be stated therein or necessary to make the statements therein not
         misleading.

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                  (c) The Company and the Guarantors shall advise you, the
Holders of Securities covered by any Shelf Registration Statement and any
Exchanging Dealer under any Exchange Offer Registration Statement that has
provided in writing to the Company and the Guarantors a telephone or facsimile
number and address for notices, and, if requested by you or any such Holder or
Exchanging Dealer, shall confirm such advice in writing (which notice pursuant
to clauses (ii) through (v) hereof shall be accompanied by an instruction to
suspend the use of the Prospectus until the Company and the Guarantors shall
have remedied the basis for such suspension):

                           (i) when the Registration Statement and any amendment
         thereto has been filed with the Commission and when the Registration
         Statement or any post-effective amendment thereto has become
         effective;

                           (ii) of any request by the Commission for any
         amendment or supplement to the Registration Statement or the Prospectus
         or for additional information;

                           (iii) of the issuance by the Commission of any stop
         order suspending the effectiveness of the Registration Statement or the
         initiation of any proceedings for that purpose;

                           (iv) of the receipt by The Company and the Guarantors
         of any notification with respect to the suspension of the qualification
         of the securities included therein for sale in any jurisdiction or the
         initiation of any proceeding for such purpose; and

                           (v) of the happening of any event that requires any
         change in the Registration Statement or the Prospectus so that, as of
         such date, the statements therein are not misleading and do not omit to
         state a material fact required to be stated therein or necessary to
         make the statements therein (in the case of the Prospectus, in the
         light of the circumstances under which they were made) not misleading.

                  (d) The Company and the Guarantors shall use their respective
reasonable best efforts to obtain the withdrawal of any order suspending the
effectiveness of any Registration Statement or the qualification of the
securities therein for sale in any jurisdiction at the earliest possible time.

                  (e) The Company and the Guarantors shall furnish to each
Holder of Securities covered by any Shelf Registration Statement, without
charge, at least one copy of such Shelf Registration Statement and any
post-effective amendment thereto, including all material incorporated therein by
reference, and, if the Holder so requests in writing, all exhibits thereto
(including exhibits incorporated by reference therein).

                  (f) The Company and the Guarantors shall, during the Shelf
Registration Period, deliver to each Holder of Securities covered by any Shelf
Registration Statement, without charge, as many copies of the Prospectus
(including each preliminary Prospectus) included in such Shelf Registration
Statement and any amendment or supplement thereto as such Holder may reasonably
request. The Company and the Guarantors consent to the use of the Prospectus or
any amendment or supplement thereto by each of the selling Holders of securities
in connection with the offering and sale of the securities covered by the
Prospectus, or any amendment or supplement thereto, included in the Shelf
Registration Statement.

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                  (g) The Company and the Guarantors shall furnish to each
Exchanging Dealer which so requests, without charge, at least one copy of the
Exchange Offer Registration Statement and any post-effective amendment thereto,
including all material incorporated by reference therein, and, if the Exchanging
Dealer so requests in writing, all exhibits thereto (including exhibits
incorporated by reference therein).

                  (h) The Company and the Guarantors shall promptly deliver to
each Initial Purchaser, each Exchanging Dealer and each other Person required to
deliver a Prospectus during the Exchange Offer Registration Period, without
charge, as many copies of the Prospectus included in such Exchange Offer
Registration Statement and any amendment or supplement thereto as any such
Person may reasonably request. The Company and the Guarantors consent to the use
of the Prospectus or any amendment or supplement thereto by any Initial
Purchaser, any Exchanging Dealer and any such other Person that may be required
to deliver a Prospectus following the Registered Exchange Offer in connection
with the offering and sale of the New Securities covered by the Prospectus, or
any amendment or supplement thereto, included in the Exchange Offer Registration
Statement.

                  (i) Prior to the Registered Exchange Offer or any other
offering of Securities or New Securities pursuant to any Registration Statement,
the Company and the Guarantors shall arrange, if necessary, for the
qualification of the Securities or the New Securities for sale under the laws of
such jurisdictions as any Holder shall reasonably request and will maintain such
qualification in effect so long as required; provided that in no event shall the
Company or the Guarantors be obligated to qualify to do business in any
jurisdiction or as a dealer in securities where they are not then so qualified
or to take any action that would subject them to service of process in suits or
taxation, other than suits arising out of the Initial Placement, the Registered
Exchange Offer or any offering pursuant to a Shelf Registration Statement, in
any such jurisdiction where they are not then so subject.

                  (j) The Company and the Guarantors shall cooperate with the
Holders of Securities to facilitate the timely preparation and delivery of
certificates representing New Securities or Securities to be issued or sold
pursuant to any Registration Statement free of any restrictive legends and in
such denominations and registered in such names as Holders may request.

                  (k) Upon the occurrence of any event contemplated by
subsections (c)(ii) through (v) above during the period of time in which the
Company is required to maintain an effective Registration Statement, the Company
and the Guarantors shall promptly prepare a post-effective amendment to the
applicable Registration Statement or an amendment or supplement to the related
Prospectus or file any other required document so that, as thereafter delivered
to initial purchasers of the securities included therein, the Prospectus will
not include an untrue statement of a material fact or omit to state any material
fact necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading. In such circumstances, the period of
effectiveness of the Exchange Offer Registration Statement provided for in
Section 2 and the Shelf Registration Statement provided for in Section 3(b)
shall each be extended by the number of days from and including the date of the
giving of a notice of suspension pursuant to Section 5(c) to and including the
date when the Initial Purchasers, the Holders of the Securities and any known
Exchanging Dealer shall have received such amended or supplemented Prospectus
pursuant to this Section.

                  (l) Not later than the effective date of any Registration
Statement, the Company and the Guarantors shall provide a CUSIP number for the
Securities or the New

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Securities, as the case may be, registered under such Registration Statement and
provide the Trustee or the New Securities Trustee, as the case may be, with
printed certificates for such Securities or New Securities, in a form eligible
for deposit with The Depository Trust Company.

                  (m) The Company and the Guarantors shall comply with all
applicable rules and regulations of the Commission and shall make generally
available to their security holders as soon as reasonably practicable after the
effective date of the applicable Registration Statement an earnings statement
satisfying the provisions of Section 11(a) of the Act.

                  (n) The Company and the Guarantors shall cause the Indenture
or the New Securities Indenture, as the case may be, to be qualified under the
Trust Indenture Act in a timely manner.

                  (o) The Company and the Guarantors may require each Holder of
Securities or New Securities to be sold pursuant to any Shelf Registration
Statement to furnish to the Company and the Guarantors such information
regarding the Holder and the distribution of such Securities or New Securities
as the Company and the Guarantors may from time to time reasonably require for
inclusion in such Registration Statement. The Company and the Guarantors may
exclude from such Shelf Registration Statement the Securities or New Securities
of any Holder that unreasonably fails to furnish such information within a
reasonable time after receiving such request.

                  (p) In the case of any Shelf Registration Statement, the
Company and the Guarantors shall enter into such agreements and take all other
appropriate actions (including if requested an underwriting agreement in
customary form) in order to expedite or facilitate the registration or the
disposition of the Securities or New Securities, and in connection therewith, if
an underwriting agreement is entered into, cause the same to contain
indemnification provisions and procedures no less favorable than those set
forth in Section 7 (or such other provisions and procedures acceptable to the
Majority Holders and the Managing Underwriters, if any) with respect to all
parties to be indemnified pursuant to Section 7.

                  (q) In the case of any Shelf Registration Statement, the
Company and the Guarantors shall:

                           (i) make reasonably available for inspection by the
         Holders of Securities or New Securities to be registered thereunder,
         any underwriter participating in any disposition pursuant to such
         Registration Statement, and any attorney, accountant or other agent
         retained by the Holders or any such underwriter all relevant financial
         and other records, pertinent corporate documents and properties of the
         Company and its subsidiaries; provided, however, that the foregoing
         inspection and information gathering shall be coordinated on behalf of
         the Initial Purchasers by you and on behalf of the other parties
         referred to herein by the counsel designated by and on behalf of such
         other parties as described in Section 6 hereof;

                           (ii) cause the Company's officers, directors and
         employees to supply all relevant information reasonably requested by
         the Holders or any underwriter, attorney, accountant or agent in
         connection with any such Registration Statement as is customary for
         similar due diligence examinations; provided, however, that any
         information that is designated in writing by the Company, in good
         faith, as confidential at the time of delivery of such information
         shall be kept confidential by the Holders or any such underwriter,
         attorney, accountant or agent, unless such disclosure is made in
         connection

                                       11

<PAGE>

         with a court proceeding or required by law, or such information becomes
         available to the public generally or through a third party without an
         accompanying obligation of confidentiality;

                           (iii) make such representations and warranties to the
         Holders of Securities or New Securities registered thereunder and the
         underwriters, if any, in form, substance and scope as are customarily
         made by issuers to underwriters in primary underwritten offerings and
         covering matters including, but not limited to, those set forth in the
         Purchase Agreement;

                           (iv) obtain opinions of counsel to the Company and
         the Guarantors and updates thereof (which counsel and opinions (in
         form, scope and substance) shall be reasonably satisfactory to the
         Managing Underwriters, if any) addressed to each selling Holder and the
         underwriters, if any, covering such matters as are customarily covered
         in opinions requested in underwritten offerings and such other matters
         as may be reasonably requested by such Holders and underwriters, if
         any;

                           (v) obtain "cold comfort" letters and updates thereof
         from the independent certified public accountants of the Company (and,
         if necessary, any other independent certified public accountants of any
         subsidiary of the Company or of any business acquired by the Company
         for which financial statements and financial data are, or are required
         to be, included in the Registration Statement), addressed to each
         selling Holder of Securities or New Securities registered thereunder
         and the underwriters, if any, in customary form and covering matters of
         the type customarily covered in "cold comfort" letters in connection
         with primary underwritten offerings; and

                           (vi) deliver such documents and certificates as may
         be reasonably requested by the Majority Holders and the Managing
         Underwriters, if any, including those to evidence compliance with
         Section 5(k) and with any customary conditions contained in the
         underwriting agreement or other agreement entered into by the Company
         and the Guarantors.

The actions set forth in clauses (iii), (iv), (v) and (vi) of this Section shall
be performed at (A) the effectiveness of such Registration Statement and each
post-effective amendment thereto; and (B) each closing under any underwriting or
similar agreement as and to the extent required thereunder.

                  (r) In the case of any Exchange Offer Registration Statement,
the Company and the Guarantors shall:

                           (i) make reasonably available for inspection by such
         Initial Purchaser, and any attorney, accountant or other agent retained
         by such Initial Purchaser, all relevant financial and other records,
         pertinent corporate documents and properties of the Company and its
         subsidiaries; provided, however, that the foregoing inspection and
         information gathering shall be coordinated on behalf of the Initial
         Purchasers by you and on behalf of the other parties referred to herein
         by the counsel designated by on and behalf of such other parties as
         described in Section 6 hereof;

                           (ii) cause the Company's officers, directors and
         employees to supply all relevant information reasonably requested by
         such Initial Purchaser or any such attorney, accountant or agent in
         connection with any such Registration Statement as is customary for
         similar due diligence examinations; provided, however, that any

                                       12

<PAGE>

                  information that is designated in writing by the Company, in
                  good faith, as confidential at the time of delivery of such
                  information shall be kept confidential by such Initial
                  Purchaser or any such attorney, accountant or agent, unless
                  such disclosure is made in connection with a court proceeding
                  or required by law, or such information becomes available to
                  the public generally or through a third party without an
                  accompanying obligation of confidentiality;

                                    (iii) make such representations and
                  warranties to such Initial Purchaser, in form, substance and
                  scope as are customarily made by issuers to underwriters in
                  primary underwritten offerings and covering matters including,
                  but not limited to, those set forth in the Purchase Agreement;

                                    (iv) obtain opinions of counsel to the
                  Company and updates thereof (which counsel and opinions (in
                  form, scope and substance) shall be reasonably satisfactory to
                  such Initial Purchaser and its counsel, addressed to such
                  Initial Purchaser, covering such matters as are customarily
                  covered in opinions requested in underwritten offerings and
                  such other matters as may be reasonably requested by such
                  Initial Purchaser or its counsel;

                                    (v) obtain "cold comfort" letters and
                  updates thereof from the independent certified public
                  accountants of the Company (and, if necessary, any other
                  independent certified public accountants of any subsidiary of
                  the Company or of any business acquired by the Company for
                  which financial statements and financial data are, or are
                  required to be, included in the Registration Statement),
                  addressed to such Initial Purchaser in customary form and
                  covering matters of the type customarily covered in "cold
                  comfort" letters in connection with primary underwritten
                  offerings, or if requested by such Initial Purchaser or its
                  counsel in lieu of a "cold comfort" letter, an agreed-upon
                  procedures letter under Statement on Auditing Standards No.
                  35, covering matters requested by such Initial Purchaser or
                  its counsel; and

                                    (vi) deliver such documents and certificates
                  as may be reasonably requested by such Initial Purchaser or
                  its counsel, including those to evidence compliance with
                  Section 5(k) and with conditions customarily contained in
                  underwriting agreements.

The foregoing actions set forth in clauses (iii), (iv), (v), and (vi) of this
Section shall be performed at the close of the Registered Exchange Offer and the
effective date of any post-effective amendment to the Exchange Offer
Registration Statement.

                           (s) If a Registered Exchange Offer is to be
         consummated, upon delivery of the Securities by Holders to the Company
         (or to such other Person as directed by the Company) in exchange for
         the New Securities, the Company shall mark, or caused to be marked, on
         the Securities so exchanged that such Securities are being canceled in
         exchange for the New Securities. In no event shall the Securities be
         marked as paid or otherwise satisfied.

                           (t) The Company and the Guarantors will use their
         respective reasonable best efforts (i) if the Securities have been
         rated prior to the initial sale of such Securities, to confirm such
         ratings will apply to the Securities or the New Securities, as the case
         may be, covered by a Registration Statement; or (ii) if the Securities
         were not previously rated, to cause the Securities covered by a
         Registration Statement to be rated with at least one nationally
         recognized statistical rating agency, if so requested by Majority
         Holders with respect to the related Registration Statement or by any
         Managing Underwriters.

                                       13
<PAGE>

                           (u) In the event that any Broker-Dealer shall
         underwrite any Securities or participate as a member of an underwriting
         syndicate or selling group or "assist in the distribution" (within the
         meaning of the Rules of Fair Practice and the By-Laws of the National
         Association of Securities Dealers, Inc.) thereof, whether as a Holder
         of such Securities or as an underwriter, a placement or sales agent or
         a broker or dealer in respect thereof, or otherwise, the Company and
         the Guarantors shall assist such Broker-Dealer in complying with the
         requirements of such Rules and By-Laws, including, without limitation,
         by:

                                    (i) if such Rules or By-Laws shall so
                  require, engaging a "qualified independent underwriter" (as
                  defined in such Rules) to participate in the preparation of
                  the Registration Statement, to exercise usual standards of due
                  diligence with respect thereto and, if any portion of the
                  offering contemplated by such Registration Statement is an
                  underwritten offering or is made through a placement or sales
                  agent, to recommend the yield of such Securities;

                                    (ii) indemnifying any such qualified
                  independent underwriter to the extent of the indemnification
                  of underwriters provided in Section 7 hereof; and

                                    (iii) providing such information to such
                  Broker-Dealer as may be required in order for such
                  Broker-Dealer to comply with the requirements of such Rules.

                           (v) The Company and the Guarantors shall use their
         respective reasonable best efforts to take all other steps necessary to
         effect the registration of the Securities or the New Securities, as the
         case may be, covered by a Registration Statement.

                  6. Registration Expenses. The Company shall bear all expenses
incurred in connection with the performance of its and the Guarantors
obligations under Sections 2, 3 and 5 hereof and, in the event of any Shelf
Registration Statement, will reimburse the Holders for the reasonable fees and
disbursements of one firm or counsel designated by the Majority Holders to act
as counsel for the Holders in connection therewith, and, in the case of any
Exchange Offer Registration Statement, will reimburse the Initial Purchasers for
the reasonable fees and disbursements of one firm or counsel acting in
connection therewith.

                  7. Indemnification and Contribution.

                           (a) The Company and the Guarantors, jointly and
         severally, agree to indemnify and hold harmless each Holder of
         Securities or New Securities, as the case may be, covered by any
         Registration Statement (including each Initial Purchaser and, with
         respect to any Prospectus delivery as contemplated in Section 5(h)
         hereof, each Exchanging Dealer), the directors, officers, employees and
         agents of each such Holder and each Person who controls any such Holder
         within the meaning of either the Act or the Exchange Act against any
         and all losses, claims, damages or liabilities, joint or several, to
         which they or any of them may become subject under the Act, the
         Exchange Act or other Federal or state statutory law or regulation, at
         common law or otherwise insofar as such losses, claims, damages or
         liabilities (or actions in respect thereof) arise out of or are based
         upon any untrue statement or alleged untrue statement of a material
         fact contained in the Registration Statement as originally filed or in
         any amendment thereof, or in any preliminary Prospectus or the
         Prospectus, or in any amendment thereof or supplement thereto, or arise
         out of or are based upon the omission or alleged omission to state
         therein a material fact required to be stated therein or necessary to
         make the statements therein not misleading, and agrees to reimburse
         each such indemnified party, as incurred, for any legal or other
         expenses reasonably incurred by them in connection with investigating
         or defending any

                                       14
<PAGE>

         such loss, claim, damage, liability or action; provided, however, that
         the Company and the Guarantors will not be liable in any case to the
         extent that any such loss, claim, damage or liability arises out of or
         is based upon any such untrue statement or alleged untrue statement or
         omission or alleged omission made therein in reliance upon and in
         conformity with written information furnished to the Company and the
         Guarantors by or on behalf of any such Holder specifically for
         inclusion therein. This indemnity agreement will be in addition to any
         liability which the Company and the Guarantors may otherwise have.

                 The Company and the Guarantors also, jointly and severally,
         agree to indemnify or contribute as provided in Section 7(d) to Losses
         of any underwriter of any Securities or New Securities, as the case may
         be, registered under a Shelf Registration Statement, their directors,
         officers, employees or agents and each Person who controls such
         underwriter (within the meaning of the Act or the Exchange Act) on
         substantially the same basis as that of the indemnification of the
         Initial Purchasers and the selling Holders provided in this Section
         7(a) and shall, if requested by any Holder, enter into an underwriting
         agreement reflecting such agreement, as provided in Section 5(p)
         hereof.

                  With respect to any untrue statement or omission of material
         fact made in any preliminary Prospects, the indemnity agreement
         contained in this Section 7(a) shall not inure to the benefit of any
         indemnified person from whom the person asserting any such loss, claim,
         damage or liability purchased the securities concerned, to the extent
         that any such loss, claim, damage or liability of such indemnified
         person occurs under the circumstance where it shall have been
         determined by a court of competent jurisdiction by final and
         non-appealable judgment that (w) the Company had previously furnished
         copies of the Final Prospects to such indemnified person, (x) delivery
         of the Final Prospectus was required by the Act to be made to such
         person, (y) the untrue statement or omission of a material fact
         contained in the preliminary Prospectus was corrected in the Final
         Prospectus and (z) there was not sent or given to such person, at or
         prior to the written confirmation of the sale of such securities to
         such person, a copy of the Final Prospectus.

                           (b) Each Holder of securities covered by a
         Registration Statement (including each Initial Purchaser and, with
         respect to any Prospectus delivery as contemplated in Section 5(h)
         hereof, each Exchanging Dealer) severally agrees to indemnify and hold
         harmless the Company and the Guarantors, each of their directors, each
         of their officers who sign such Registration Statement and each Person
         who controls the Company or any of the Guarantors within the meaning of
         either the Act or the Exchange Act, to the same extent as the foregoing
         indemnity from the Company and the Guarantors to each such Holder, but
         only with reference to written information relating to such Holder
         furnished to the Company or the Guarantors by or on behalf of such
         Holder specifically for inclusion in the documents referred to in the
         foregoing indemnity. This indemnity agreement will be in addition to
         any liability which any such Holder may otherwise have.

                           (c) Promptly after receipt by an indemnified party
         under this Section 7 of notice of the commencement of any action, such
         indemnified party will, if a claim in respect thereof is to be made
         against the indemnifying party under this Section, notify the
         indemnifying party in writing of the commencement thereof; but the
         failure so to notify the indemnifying party (i) will not relieve it
         from liability under paragraph (a) or (b) above unless and to the
         extent it did not otherwise learn of such action and such failure
         results in the forfeiture by the indemnifying party of substantial
         rights and defenses; and (ii) will not, in any event, relieve the
         indemnifying party from any obligations to any indemnified party other
         than the indemnification obligation provided in paragraph (a) or (b)
         above. The indemnifying party shall be entitled to appoint

                                       15
<PAGE>

         counsel of the indemnifying party's choice at the indemnifying party's
         expense to represent the indemnified party in any action for which
         indemnification is sought (in which case the indemnifying party shall
         not thereafter be responsible for the fees and expenses of any separate
         counsel retained by the indemnified party or parties except as set
         forth below); provided, however, that such counsel shall be reasonably
         satisfactory to the indemnified party. Notwithstanding the indemnifying
         party's election to appoint counsel to represent the indemnified party
         in an action, the indemnified party shall have the right to employ
         separate counsel (including local counsel), and the indemnifying party
         shall bear the reasonable fees, costs and expenses of such separate
         counsel if (i) the use of counsel chosen by the indemnifying party to
         represent the indemnified party would present such counsel with a
         conflict of interest; (ii) the actual or potential defendants in, or
         targets of, any such action include both the indemnified party and the
         indemnifying party and the indemnified party shall have reasonably
         concluded that there may be legal defenses available to it and/or other
         indemnified parties which are different from or additional to those
         available to the indemnifying party; (iii) the indemnifying party shall
         not have employed counsel satisfactory to the indemnified party to
         represent the indemnified party within a reasonable time after notice
         of the institution of such action; or (iv) the indemnifying party shall
         authorize the indemnified party to employ separate counsel at the
         expense of the indemnifying party. An indemnifying party will not,
         without the prior written consent of the indemnified parties, settle or
         compromise or consent to the entry of any judgment with respect to any
         pending or threatened claim, action, suit or proceeding in respect of
         which indemnification or contribution may be sought hereunder (whether
         or not the indemnified parties are actual or potential parties to such
         claim or action) unless such settlement, compromise or consent includes
         an unconditional release of each indemnified party from all liability
         arising out of such claim, action, suit or proceeding.

                           (d) In the event that the indemnity provided in
         paragraph (a) or (b) of this Section is unavailable to or insufficient
         to hold harmless an indemnified party for any reason, then each
         applicable indemnifying party shall have a joint and several obligation
         to contribute to the amount paid or payable by such indemnified party
         as a result of the aggregate losses, claims, damages and liabilities
         (including legal or other expenses reasonably incurred in connection
         with investigating or defending same) (collectively "Losses") to which
         such indemnified party may be subject in such proportion as is
         appropriate to reflect the relative benefits received by such
         indemnifying party, on the one hand, and such indemnified party, on the
         other hand, from the Initial Placement and the Registration Statement
         which resulted in such Losses; provided, however, that in no case shall
         any Initial Purchaser of any Security or New Security be responsible,
         in the aggregate, for any amount in excess of the purchase discount or
         commission applicable to such Security, or in the case of a New
         Security, applicable to the Security that was exchangeable into such
         New Security, as set forth on the cover page of the Final Memorandum,
         nor shall any underwriter be responsible for any amount in excess of
         the underwriting discount or commission applicable to the securities
         purchased by such underwriter under the Registration Statement which
         resulted in such Losses, nor shall any Holder (other than the Initial
         Purchasers) be responsible for any amount by which the net proceeds
         received from the sale of such Security by such Holder exceeds the
         amount of damages for which such Holder has otherwise been required to
         pay by reason of such untrue or alleged untrue statement or omission or
         alleged omission. If the allocation provided by the immediately
         preceding sentence is unavailable for any reason, the indemnifying
         party and the indemnified party shall contribute in such proportion as
         is appropriate to reflect not only such relative benefits but also the
         relative fault of such indemnifying party, on the one hand, and such
         indemnified party, on the other hand, in connection with the statements
         or omissions which resulted in such Losses as well as any other
         relevant equitable considerations. Benefits received by the Company and
         the Guarantors shall be deemed to be equal to the sum of the total net
         proceeds from the initial sale (before deducting

                                       16
<PAGE>

         expenses) of the Securities to the Selling Noteholder on September 19,
         2002 pursuant to the Acquisition Agreement. Benefits received by the
         Initial Purchasers shall be deemed to be equal to the total purchase
         discounts and commissions as set forth on the cover page of the Final
         Memorandum, and, benefits received by any other Holders shall be deemed
         to be equal to the proceeds received from the sale of the Securities or
         New Securities, as applicable. Benefits received by any underwriter
         shall be deemed to be equal to the total underwriting discounts and
         commissions, as set forth on the cover page of the Prospectus forming a
         part of the Registration Statement which resulted in such Losses.
         Relative fault shall be determined by reference to, among other things,
         whether any alleged untrue statement or omission relates to information
         provided by the indemnifying party, on the one hand, or by the
         indemnified party, on the other hand, the intent of the parties and
         their relative knowledge, access to information and opportunity to
         correct or prevent such untrue statement or omission. The parties agree
         that it would not be just and equitable if contribution were determined
         by pro rata allocation (even if the Holders were treated as one entity
         for such purpose) or any other method of allocation which does not take
         account of the equitable considerations referred to above.
         Notwithstanding the provisions of this paragraph (d), no Person guilty
         of fraudulent misrepresentation (within the meaning of Section 11(f) of
         the Act) shall be entitled to contribution from any Person who was not
         guilty of such fraudulent misrepresentation. For purposes of this
         Section, each Person who controls a Holder within the meaning of either
         the Act or the Exchange Act and each director, officer, employee and
         agent of such Holder shall have the same rights to contribution as such
         Holder, and each Person who controls the Company or any of the
         Guarantors within the meaning of either the Act or the Exchange Act,
         each officer of the Company or any of the Guarantors who shall have
         signed the Registration Statement and each director of the Company or
         any of the Guarantors shall have the same rights to contribution as the
         Company, subject in each case to the applicable terms and conditions of
         this paragraph (d).

                           (e) The provisions of this Section will remain in
         full force and effect, regardless of any investigation made by or on
         behalf of any Holder or the Company and the Guarantors or any of the
         officers, directors or controlling Persons referred to in this Section
         hereof, and will survive the sale by a Holder of securities covered by
         a Registration Statement.

                  8. Underwritten Registrations.

                           (a) If any of the Securities or New Securities, as
         the case may be, covered by any Shelf Registration Statement are to be
         sold in an underwritten offering, the Managing Underwriters shall be
         selected by the Majority Holders and shall be reasonably acceptable to
         the Company.

                           (b) No Person may participate in any underwritten
         offering pursuant to any Shelf Registration Statement, unless such
         Person (i) agrees to sell such Person's Securities or New Securities,
         as the case may be, on the basis reasonably provided in any
         underwriting arrangements approved by the Persons entitled hereunder to
         approve such arrangements; and (ii) completes and executes all
         questionnaires, powers of attorney, indemnities, underwriting
         agreements and other documents reasonably required under the terms of
         such underwriting arrangements.

                  9. No Inconsistent Agreements. The Company has not, as of the
date hereof, entered into, nor shall it, 5% or after the date hereof, enter
into, any agreement with respect to its securities that is inconsistent with the
rights granted to the Holders herein or otherwise conflicts with the provisions
hereof

                                       17
<PAGE>
                  10. Amendments and Waivers. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, qualified,
modified or supplemented, and waivers or consents to departures from the
provisions hereof may not be given, unless the Company has obtained the written
consent of the Majority Holders; provided that, with respect to any matter that
directly or indirectly affects the rights of any Initial Purchaser hereunder,
the Company shall obtain the written consent of each such Initial Purchaser
against which such amendment, qualification, supplement, waiver or consent is to
be effective. Notwithstanding the foregoing, a waiver or consent to departure
from the provisions hereof with respect to a matter that relates exclusively to
the rights of Holders whose Securities or New Securities, as the case may be,
are being sold pursuant to a Registration Statement and that does not directly
or indirectly affect the rights of other Holders may be given by the Holders
representing a majority of the aggregate principal amount of the Securities or
the New Securities, as the case may be, being sold rather than registered under
such Registration Statement, voting together as a single class.

                  11. Notices. All notices and other communications provided for
or permitted hereunder shall be made in writing by hand-delivery, first-class
mail, telex, telecopier or air courier guaranteeing overnight delivery:

                           (a) if to a Holder, at the most current address given
         by such holder to the Company in accordance with the provisions of this
         Section, which address initially is, with respect to each Holder, the
         address of such Holder maintained by the Registrar under the Indenture,
         with a copy in like manner to Salomon Smith Barney Inc.;

                           (b) if to you, initially at the respective addresses
         set forth in the Purchase Agreement; and

                           (c) if to the Company or the Guarantors, initially at
         its respective address set forth in the Purchase Agreement.

                  All such notices and communications shall be deemed to have
been duly given when received.

                  The Initial Purchasers, the Company or the Guarantors by
notice to the other parties may designate additional or different addresses for
subsequent notices or communications.

                  12. Successors. This Agreement shall inure to the benefit of
and be binding upon the successors and assigns of each of the parties,
including, without the need for an express assignment or any consent by the
Company thereto, subsequent Holders of Securities and the New Securities. The
Company hereby agrees to extend the benefits of this Agreement to any Holder of
Securities and the New Securities, and any such Holder may specifically enforce
the provisions of this Agreement as if an original party hereto.

                  13. Counterparts. This agreement may be in signed
counterparts, each of which shall an original and all of which together shall
constitute one and the same agreement.

                  14. Headings. The headings used herein are for convenience
only and shall not affect the construction hereof.

                  15. Applicable Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York applicable to
contracts made and to be performed in the State of New York.

                                       18
<PAGE>
                  16. Severability. In the event that any one or more of the
provisions contained herein, or the application thereof in any circumstances, is
held invalid, illegal or unenforceable in any respect for any reason, the
validity, legality and enforceability of any such provision in every other
respect and of the remaining provisions hereof shall not be in any way impaired
or affected thereby, it being intended that all of the rights and privileges of
the parties shall be enforceable to the fullest extent permitted by law.

                  17. Securities Held by the Company, etc. Whenever the consent
or approval of Holders of a specified percentage of principal amount of
Securities or New Securities is required hereunder, Securities or New
Securities, as applicable, held by the Company or its Affiliates (other than the
ConAgra Affiliate with respect to the Shelf Registration Statement or subsequent
Holders of Securities or New Securities if such subsequent Holders are deemed to
be Affiliates solely by reason of their holdings of such Securities or New
Securities) shall not be counted in determining whether such consent or approval
was given by the Holders of such required percentage.

                                       19
<PAGE>
                  If the foregoing is in accordance with your understanding of
our agreement, please sign and return to us the enclosed duplicate hereof,
whereupon this Agreement and your acceptance shall represent a binding agreement
among the Company, the Guarantors and the several Initial Purchasers.

                                       Very truly yours,

                                       SWIFT & COMPANY

                                       By: /s/ DANNY HERRON
                                          --------------------------------------
                                          Name: Danny Herron
                                          Title: Executive Vice President and
                                                 Chief Financial Officer

                                       S&C HOLDCO 3, INC.

                                       By: /s/ DANNY HERRON
                                          --------------------------------------
                                          Name: Danny Herron
                                          Title: Vice President and
                                                 Chief Financial Officer

                                       SWIFT BEEF COMPANY

                                       By: /s/ DANNY HERRON
                                          --------------------------------------
                                          Name: Danny Herron
                                          Title: Vice President and
                                                 Chief Financial Officer

                                       SWIFT PORK COMPANY

                                       By: /s/ DANNY HERRON
                                          --------------------------------------
                                          Name: Danny Herron
                                          Title: Vice President and
                                                 Chief Financial Officer

                                       SWIFT BRANDS COMPANY

                                       By: /s/ DANNY HERRON
                                          --------------------------------------
                                          Name: Danny Herron
                                          Title: Vice President and
                                                 Chief Financial Officer

<PAGE>
                                       MILLER BROS. CO., INC.

                                       By: /s/ DANNY HERRON
                                          --------------------------------------
                                          Name: Danny Herron
                                          Title: Vice President and
                                                 Chief Financial Officer

                                       MONFORT FOOD DISTRIBUTION COMPANY

                                       By: /s/ DANNY HERRON
                                          --------------------------------------
                                          Name: Danny Herron
                                          Title: Vice President and
                                                 Chief Financial Officer

                                       SWIFT & COMPANY INTERNATIONAL SALES
                                       CORPORATION

                                       By: /s/ DANNY HERRON
                                          --------------------------------------
                                          Name: Danny Herron
                                          Title: Vice President and
                                                 Chief Financial Officer

                                       MONFORT, INC.

                                       By: /s/ DANNY HERRON
                                          --------------------------------------
                                          Name: Danny Herron
                                          Title: Vice President and
                                                 Chief Financial Officer

                                       S&C RESALE COMPANY

                                       By: /s/ DANNY HERRON
                                          --------------------------------------
                                          Name: Danny Herron
                                          Title: Vice President and
                                                 Chief Financial Officer

<PAGE>
The foregoing Agreement is hereby
confirmed and accepted as of the
date first above written.
Salomon Smith Barney Inc
J.P. Morgan Securities Inc.

By: SALOMON SMITH BARNEY INC.

By: /s/ PAUL SHARKEY
    ------------------------------
    Name: Paul Sharkey
    Title: Vice President

                                 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT

<PAGE>

                                                                         ANNEX A

                  Each Broker-Dealer that receives New Securities for its own
account pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such New Securities. The Letter of
Transmittal states that by so acknowledging and by delivering a prospectus, a
Broker-Dealer will not be deemed to admit that it is an "underwriter" within the
meaning of the Securities Act. This Prospectus, as it may be amended or
supplemented from time to time, may be used by a Broker-Dealer in connection
with resales of New Securities received in exchange for Securities where such
Securities were acquired by such Broker-Dealer as a result of market-making
activities or other trading activities. The Company has agreed that, starting on
the Expiration Date (as defined herein) and ending on the close of business 180
days after the Expiration Date, it will make this Prospectus available to any
Broker-Dealer for use in connection with any such resale. See "Plan of
Distribution."

<PAGE>

                                                                         ANNEX B

                  Each Broker-Dealer that receives New Securities for its own
account in exchange for Securities, where such Securities were acquired by such
Broker-Dealer as a result of market-making activities or other trading
activities, must acknowledge that it will deliver a prospectus in connection
with any resale of such New Securities. See "Plan of Distribution."

<PAGE>
                                                                         ANNEX C

                              PLAN OF DISTRIBUTION

                  Each Broker-Dealer that receives New Securities for its own
account pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such New Securities. This
Prospectus, as it may be amended or supplemented from time to time, may be used
by a Broker-Dealer in connection with resales of New Securities received in
exchange for Securities where such Securities were acquired as a result of
market-making activities or other trading activities. The Company and the
Guarantors have agreed that, starting on the Expiration Date and ending on the
close of business 180 days after the Expiration Date, they will make this
Prospectus, as amended or supplemented, available to any Broker-Dealer for use
in connection with any such resale. In addition, until ___________, 200___, all
dealers effecting transactions in the New Securities may be required to deliver
a prospectus.

                  The Company will not receive any proceeds from any sale of New
Securities by broker-dealers. New Securities received by Broker-Dealers for
their own account pursuant to the Exchange Offer may be sold from time to time
in one or more transactions in the over-the-counter market, in negotiated
transactions, through the writing of options on the New Securities or a
combination of such methods of resale, at market prices prevailing at the time
of resale, at prices related to such prevailing market prices or negotiated
prices. Any such resale may be made directly to purchasers or to or through
brokers or dealers who may receive compensation in the form of commissions or
concessions from any such Broker-Dealer and/or the purchasers of any such New
Securities. Any Broker-Dealer that resells New Securities that were received by
it for its own account pursuant to the Exchange Offer and any broker or dealer
that participates in a distribution of such New Securities may be deemed to be
an "underwriter" within the meaning of the Securities Act and any profit of any
such resale of New Securities and any commissions or concessions received by any
such Persons may be deemed to be underwriting compensation under the Securities
Act. The Letter of Transmittal states that by acknowledging that it will deliver
and by delivering a prospectus, a Broker-Dealer will not be deemed to admit that
it is an "underwriter" within the meaning of the Securities Act.

                  For a period of 180 days after the Expiration Date, the
Company and the Guarantors will promptly send additional copies of this
Prospectus and any amendment or supplement to this Prospectus to any
Broker-Dealer that requests such documents in the Letter of Transmittal. The
Company has agreed to pay all expenses incident to the Exchange Offer (including
the expenses of one counsel for the holder of the Securities) other than
commissions or concessions of any brokers or dealers and will indemnify the
holders of the Securities (including any Broker-Dealers) against certain
liabilities, including liabilities under the Securities Act.

<PAGE>

                                                                         ANNEX D

Rider A

                           CHECK HERE IF YOU ARE A BROKER-DEALER AND WISH TO
                           RECEIVE 10 ADDITIONAL COPIES OF THE PROSPECTUS AND 10
                           COPIES OF ANY AMENDMENTS OR SUPPLEMENTS THERETO.

Rider B

                           Name:
                                    ---------------------------------------

                           Address:
                                    ---------------------------------------

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

If the undersigned is not a Broker-Dealer, the undersigned represents that it
acquired the New Securities in the ordinary course of its business, it is not
engaged in, and does not intend to engage in, a distribution of New Securities
and it has no arrangements or understandings with any Person to participate in a
distribution of the New Securities. If the undersigned is a Broker-Dealer that
will receive New Securities for its own account in exchange for Securities, it
represents that the Securities to be exchanged for New Securities were acquired
by it as a result of market-making activities or other trading activities and
acknowledges that it will deliver a prospectus in connection with any resale of
such New Securities; however, by so acknowledging and by delivering a
prospectus, the undersigned will not be deemed to admit that it is an
"underwriter" within the meaning of the Securities Act.<PAGE>
                                                                    EXHIBIT 10.8

  "***" - Confidential portions of this Agreement have been omitted and filed
  separately with the Securities and Exchange Commission under a Confidential
   Treatment Request, pursuant to Rule 406 of the Securities Act of 1933, as
                                    amended

                         BY-PRODUCTS MARKETING AGREEMENT

         THIS BY-PRODUCTS MARKETING AGREEMENT ("Agreement"), is made as of
October 8, 2003, by and between CONAGRA TRADE GROUP, INC. ("CTG") and SWIFT &
COMPANY, ("Swift").

RECITALS:

     (a)  Swift is engaged in the processing of cattle and hogs, which includes
          production of various by-products.

     (b)  CTG is engaged in the marketing and sale of various goods, including
          beef and pork by-products, and has previously marketed and sold beef
          and pork by-products produced by Swift.

     (c)  The parties desire that Swift will sell to CTG, and CTG buy from
          Swift, the Products (as defined herein), all the terms and conditions
          set forth below.

     (d)  The parties desire to maximize total profit before taxes on the
          Products by maximizing revenues and minimizing costs associated with
          this Agreement.

AGREEMENT:

     1.   PURCHASE OF PRODUCT. Pursuant to the terms and conditions herein,
          Swift hereby agrees to sell to CTG, and CTG hereby agrees to purchase
          from Swift, FOB the Swift processing facilities identified in Exhibit
          "A" attached hereto (individually, a "Facility" and, collectively, the
          "Facilities"), Swift's entire rendered by-products production as
          identified in Exhibit "A" attached hereto (individually, a "Product"
          and, collectively, the "Products"), resulting from the processing of
          cattle and hogs at the Facilities. Title and risk of loss to the
          Products shall pass to CTG upon delivery of the Products to CTG. CTG
          and Swift enter into separate written contracts for the purchase of
          the Products (each a "Purchase Contract"). All Products shall be sold
          to CTG upon the terms and conditions of sale set forth in the
          applicable Purchase Contract in the form attached hereto as Exhibit
          "B"; the parties shall retain, however, all rights under this
          Agreement.

     2.   SPECIFICATIONS. All Products will meet all applicable guidelines
          published in the most recent edition of the American Fats and Oils
          Association Standard Grades, Specifications and Quality Tolerances
          (the "Specifications").

     3.   PRICES. Except those quantities of Products, if any, that the parties
          agree in writing to price forward, prices for the Products shall be
          calculated by the methods set forth on Exhibit "A" attached hereto and
          shall be based on origin weights or first official rail scale. Any
          quantities of Products which the parties agree to price forward shall
          be memorialized in

<PAGE>
          writing through Purchase Contract confirmations, which will be signed
          by both parties, and invoiced at the contracted price at time of
          shipment.

     4.   PAYMENT. CTG shall make payment for all Products purchased hereunder
          from Swift within fourteen (14) days of CTG's receipt of each invoice
          for Products.

     5.   OPERATIONAL PROCEDURES. Swift shall provide CTG with access to Swift's
          systems and permit CTG to: prepare daily shipping orders for the
          product, schedule all shipping of Product, communicate shipment
          schedules with the Facilities, enter shipping orders, generate load
          number sequences and maintain open communication with the Facilities
          to change shipping schedules. Each day that a Facility operates, by
          8:30 a.m., Omaha time with respect to each Facility located in the
          United States, Swift will provide CTG with written reports setting
          forth inventory, kill schedule and conversion for each Facility for
          that day. In addition, Swift will cause each Facility to communicate
          directly with CTG on a daily basis with respect to any increase or
          decrease in production at each Facility, any changes in rail
          switching/car orders placed by Swift at each Facility, or changes in
          weight/ladings.

     6.   CLAIMS. Product claims will be managed and processed by CTG. CTG
          will provide Swift with each product claim detail within sixty (60)
          days of shipment. Product claims above Ten thousand dollars
          ($10,000.00) require written approval from Swift prior to the
          financial settlement between Swift and CTG. Swift will have financial
          responsibility for all approved claims, and agrees to financially
          settle with CTG within fourteen (14) days of receipt of product claim
          detail.

     7.   NONCONFORMING PRODUCTS. In the event that Swift delivers Products to
          CTG not meeting Specifications or that CTG does not believe, in its
          reasonable discretion, are fit for sale ("Nonconforming Products"),
          CTG shall have the right to reject such Products and shall be
          reimbursed by Swift for all costs associated with such Products,
          including the cost for such Products. Notwithstanding the foregoing,
          in such an event CTG shall retain all other rights for damages
          otherwise available under this Agreement or law.

     8.   RECALL OF PRODUCTS. Swift and CTG agree to promptly communicate about
          any condition or event that could result in a recall of the Products.
          In the event CTG determines that a recall is required, in whole or in
          part, of any of the Products purchased from Swift hereunder, Swift
          agrees to cooperate fully with CTG in effecting any such recall of
          Products. To the extent practicable, CTG agrees to give Swift advance
          notice of any such recall and work with Swift to coordinate such
          recall and, consistent with CTG's responsibilities, to minimize the
          impact of such recall on Swift and CTG. Swift shall bear the cost of
          any such recall that arises under this Agreement, including
          reimbursing the purchase price paid by CTG and its customers for such
          Products.

     9.   SWIFT LIABILITY. Swift shall be responsible for all product liability
          issues and claims, whether incurred by CTG or CTG's customers,
          including failure of Products to meet Specifications, any
          contamination or adulteration of Products or any failure of Products
          to be reasonably capable of use or sale. Swift shall indemnify CTG,
          ConAgra Foods, Inc.

                                        2

<PAGE>
          and their affiliates, officers, directors, employees or agents from
          all claims arising from or relating to the Products. CTG will comply
          with the Federal requirements set forth in 21 CFR Part 589, and with
          applicable federal and state laws and mandates relating to sale of the
          Products. Swift shall comply with all applicable laws and mandates
          relating to manufacture or production of the Products. Notwithstanding
          any other provision of this Agreement, CTG shall have no obligation to
          test or analyze any Product for conformance to Specifications or for
          any contamination or adulteration of Products or other circumstances
          that may affect salability of Products.

     10.  AGREEMENT REVIEW. In the event of any material change in either
          party's ability to produce, market, sell, transport or otherwise
          include any Product under this Agreement, the parties agree to review
          this Agreement, and to use good faith efforts to reach a mutual
          agreement on an amended pricing mechanism that ensures price transfers
          are reflective of the then-current market values. In the event that
          the parties cannot agree to the terms of the amendment within thirty
          (30) days of the parties' awareness of such material change, the
          parties agree to use a mutually agreeable third party to identify an
          alternative pricing mechanism. The decision of such third party shall
          be binding upon the parties.

     11.  PROFIT/REVIEW. CTG will use reasonable efforts to manage costs under
          this Agreement consistent with other operating segments within CTG.
          CTG agrees that within thirty (30) days following financial reporting
          quarter of ConAgra Foods, Inc. ("ConAgra") and for each financial
          quarter during the term of this Agreement, CTG will provide Swift with
          a report (each a "Report") relating to the purchase and sale of the
          Products by CTG. The Report shall provide sufficient information, as
          reasonably related to the Products, to enable Swift to verify the PBT
          (as defined herein) for the applicable Report period.

     12.  TERM AND TERMINATION. This Agreement will commence on May 26, 2003 and
          will terminate on May 31, 2005 (the "Initial Term"). Provided,
          however, this Agreement shall automatically renew for additional one
          (1) year terms thereafter on the same terms and conditions unless
          either party gives written notice of its intention not to renew the
          Agreement at least ninety (90) days prior to the end of the Initial
          Term or any renewal term. Provided further, that in the event CTG
          notifies Swift and Australia Meat Holdings Pty. Ltd. that CTG, ConAgra
          Trade Group Pty. Ltd. or one of their affiliates have executed a
          long-term agreement for the storage of rendered by-products (the
          "Storage Agreement"), then the parties agree to amend this Agreement
          so that the term of this Agreement shall expire at the same time as
          the Storage Agreement. Provided further, however, that the foregoing
          sentence shall not apply unless Australia Meat Holdings Pty. Ltd. or
          one of its affiliates has approved the terms of the Storage Agreement.

          Anything in this Agreement to the contrary notwithstanding, either
          party shall have the right to terminate this Agreement on ten (10)
          days' written notice upon (i) the other party defaulting under any
          material term or condition of this Agreement, unless the defaulting
          party has cured such default within thirty (30) days after receiving
          written notice of such default from the other party; (ii) the other
          party becoming insolvent; (iii) proceedings being instituted by or
          against such other party under bankruptcy or other insolvency laws or
          for reorganization or receivership unless such proceedings are
          dismissed within thirty

                                        3

<PAGE>
          (30) days; or (iv) such other party making an assignment for the
          benefit of its creditors, unless such assignment is dismissed within
          thirty (30) days. Anything in this Agreement notwithstanding, CTG
          shall have the right to terminate this Agreement on ten (10) days
          written notice if Swift provides Nonconforming Products to CTG that
          constitute over ten percent (10%) of the Products ordered by CTG
          during any one (1) month period during the term of this Agreement.
          Expiration or termination of this Agreement shall not affect any
          rights or obligations of either party which have accrued through the
          date of termination or expiration, or which otherwise survive
          termination in accordance with their respective terms.

          If CTG's sale of the Products does not generate a profit for four (4)
          consecutive quarterly Report periods (as described in Section 11),
          then the parties agree to review this Agreement, and to use good faith
          efforts to reach a mutual agreement on amending the terms of this
          Agreement. In the event that the parties cannot agree to the terms of
          an amendment within thirty (30) days following the beginning of
          discussions on such amendment, then either party may terminate this
          Agreement upon (90) days' written notice to the other party.

     13.  PROFIT SHARING. Profit before tax, calculated in a manner consistent
          with past practices of the parties in relation to the arrangement
          memorialized under this Agreement, ("PBT") generated from CTG's
          marketing of the Products and all other rendered products marketed by
          CTG that are similar to the Products, regardless of origin or source
          of supply of such products, but specifically excluding any products
          marketed by CTG under its By-Products Marketing Agreement with
          Australia Meat Holdings Pty. Ltd. and ConAgra Trade Group Pty. Ltd.,
          shall be divided between Swift and CTG based on the following
          performance:

<Table>
<Caption>
Fiscal Year PBT (in million dollars)            Allocation Percentage
------------------------------------            ---------------------
                                                  Swift       CTG

<S>                                             <C>        <C>
below $4                                           65%        35%
incremental dollars from $4 through $6             50%        50%
incremental dollars above $6                       35%        65%
</Table>

          CTG will account for and accumulate such profits before tax and losses
          during the term of this Agreement CTG shall pay Swift its share of net
          profits before tax (if any) within thirty (30) days following
          ConAgra's financial reporting quarter-end for each financial quarter
          during the term of this Agreement. Swift shall pay CTG its share of
          net losses (if any) within thirty (30) days following ConAgra's
          financial reporting quarter-end for each financial quarter during the
          term of this Agreement.

     14.  ASSIGNMENT. Neither party shall have the right to assign this
          Agreement, or any of its rights hereunder, without the prior written
          consent of the other party, which consent will not be unreasonably
          withheld, provided that no consent will be required for assignment by
          (i) either party to any Affiliate thereof or (ii) the Company to any
          person acquiring all

                                        4
<PAGE>

          or a substantial portion of the assets of the Swift or CTG (whether by
          stock or asset sale, merger, recapitalization or otherwise). Provided
          further, however, that to the extent requested by Swift's senior
          lenders, the parties shall execute and deliver such documents as may
          be necessary to effect a collateral assignment of the rights arising
          hereunder. This Agreement shall be binding on all permitted successors
          and assigns.

     15.  INDEMNIFICATION.

          (a)  Swift shall indemnify and hold CTG harmless from and against any
               and all claims, demands, actions, causes of action, proceedings,
               judgments and other liabilities, obligations, losses, damages,
               costs and expenses (including reasonable attorneys' fees and
               costs) of any nature which result from a breach by Swift of any
               covenant or agreement provided herein.

          (b)  CTG shall indemnify and hold Swift harmless from and against any
               and all claims, demands, actions, causes of action, proceedings,
               judgments and other liabilities, obligations, losses, damages,
               costs and expenses (including reasonable attorneys' fees and
               costs) of any nature which result from a breach by CTG of any
               covenant or agreement provided herein.

          Notwithstanding the foregoing, this Section 15 shall in no way modify,
          reduce or amend the provisions of Sections 6, 7, 8, and 9 hereof or
          the parties' rights or obligations thereunder.

     16.  INSURANCE. During the Term of this Agreement Swift shall maintain
          insurance coverage with reputable insurance companies as hereinafter
          set forth and, upon request, to furnish the CTG with certificates of
          insurance properly executed by its insurers evidencing such fact, and
          requiring the insurers to give at least thirty (30) days notice to CTG
          in the event of cancellation or material alteration of such coverage.
          The minimum insurance coverage to be maintained by Swift shall be
          Products Liability insurance, including personal injury and property
          damage, in occurrence form, affording minimum single limit protection
          of no less than U.S. Five Million Dollars (US$5,000,000) per
          occurrence. CTG shall be named as an additional insured under any such
          policy.

     17.  FORCE MAJEURE. Neither CTG nor Swift shall be liable for, or deemed to
          be in default hereunder or subject to any remedies of the other party
          as a result of, delays or performance failures due to power failures,
          fire, acts of God, acts of civil or military authority, embargoes,
          epidemics, terrorism, strikes, riots or similar causes beyond such
          party's reasonable control, and without the fault or negligence of CTG
          or Swift. Each party shall use reasonable best efforts to minimize the
          impact of any force majeure condition it experiences on the other
          party to this Agreement and to otherwise keep the other party timely
          advised as to minimization and removal of such condition.

     18.  APPLICABLE LAW. This Agreement shall be governed by the laws of the
          State of Delaware, excluding its choice of law rules.

                                        5
<PAGE>
19.      NOTICES. All notices which are required or may be given pursuant to
         the terms of this Agreement shall be in writing and shall be
         sufficient in all respects if given in writing and delivered personally
         or via facsimile or overnight courier, or mailed by Registered,
         Certified or Express Mail, postage prepaid, as follows:

                  (a)      If to Swift:      Swift & Company
                                             1170 Promontory Circle
                                             Greeley, CO 80634
                                             ATTN: VP Rendered Products
                                             Fax: (970)506-8000

                  (b)      If to CTG:        ConAgra Trade Group, Inc.
                                             11 ConAgra Drive
                                             Omaha, NE 68102
                                             ATTN: Martin P. Higgins
                                             Fax: (402)978-5585

                           With a copy:      ConAgra Foods, Inc.
                                             One ConAgra Drive
                                             Omaha, NE, U.S.A. 68102-5001
                                             ATTN: Corporate Controller
                                             Fax: (402)595-4611

         or at such other address as any party hereto shall have designated by
         notice in writing to the other parties hereto.

20.      NO CONSEQUENTIAL DAMAGES. IN NO EVENT SHALL A PARTY OR ITS AFFILIATES
         OR THEIR RESPECTIVE OFFICERS, DIRECTORS, REPRESENTATIVES AND EMPLOYEES
         BE LIABLE TO THE OTHER PARTY OR ITS AFFILIATES OR THEIR RESPECTIVE
         OFFICERS, DIRECTORS, REPRESENTATIVES AND EMPLOYEES, WHETHER BASED IN
         CONTRACT, TORT, WARRANTY, OR ANY OTHER LEGAL OR EQUITABLE GROUNDS, FOR
         ANY LOSS OF THE INCOME, PROFIT OR SAVINGS OR COST OF CAPITAL OR
         FINANCING OF THE OTHER PARTY OR ITS AFFILIATES FOR ANY INDIRECT,
         INCIDENTAL OR CONSEQUENTIAL DAMAGES OR FOR ANY EXEMPLARY, SPECIAL, OR
         PUNITIVE DAMAGES OF ANY KIND, RESULTING FROM OR RELATING TO THIS
         AGREEMENT OR THE PRODUCTS DELIVERED HEREUNDER, EVEN IF THE OTHER PARTY
         HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

21.      AMENDMENTS. No provision of this Agreement may be waived, amended,
         supplemented or modified by either party, unless such waiver,
         amendment, supplement or modification is in writing and signed by the
         authorized representative of the party against whom it is sought to
         enforce such waiver, amendment, supplement or modification.

22.      INDEPENDENT CONTRACTORS. The relationship between Swift and CTG shall
         be that of independent contractors. This Agreement is not intended to
         created and shall be

                                       6

<PAGE>
          construed as created between the parties hereto a relationship of
          principal and agent, joint ventures, co-partners, or any other similar
          relationship, the existence of which is hereby expressly denied by the
          parties.

     23.  CONFIDENTIALITY. Each Party acknowledges that in connection with this
          Agreement it may receive certain confidential information including,
          without limitation, proprietary technology, trade secrets and Product
          ingredient statements, including the information in the Reports
          described in Section 11 hereof, from the other Party ("Confidential
          Information"). The receiving Party shall not at any time disclose the
          Confidential Information to any person, firm, partnership, corporation
          or other entity (other than persons employed by the receiving Party
          and having a need to access the Confidential Information) for any
          reason whatsoever, nor shall the receiving Party use the Confidential
          Information for its benefit or for the benefit of any person, firm,
          partnership or affiliates. Each Party shall take all actions necessary
          to ensure that its employees and representatives having access to the
          Confidential Information are bound by the terms of this Agreement.
          Confidential Information shall not include information which (i) was
          in the receiving Party's possession prior to disclosure, (ii) is
          hereafter independently developed by the receiving Party, (iii)
          lawfully comes into the possession of the receiving Party, or (iv) is
          now or subsequently becomes, through no act or failure to act by the
          receiving Party, part of the public domain.

     24.  SURVIVAL. Any rights and obligations provided by this Agreement to be
          performed after the expiration or earlier termination of this
          Agreement including, without limitation, the provisions of Sections 4,
          6, 7, 8, 9, 13, 14, 15, and 23 shall survive the expiration or earlier
          termination hereof.

     25.  BINDING EFFECT. This Agreement shall inure to the benefit of and be
          binding upon the parties hereto and their respective successors and
          assigns.

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

CONAGRA TRADE GROUP, INC.                   SWIFT & COMPANY

By: /s/ GREGORY A. HECKMAN                  By: /s/ DENNIS HENLEY
   -------------------------------             ---------------------------------
Its: President and COO                      Its: President NARM
    ------------------------------              --------------------------------

                                       7
<PAGE>
                                   EXHIBIT "A"

                    FACILITY LOCATIONS, PRODUCTS AND PRICING

FACILITY LOCATIONS:

         Greeley, Colorado
         Grand Island, Nebraska
         Dumas, Texas
         Nampa, Idaho
         Omaha, Nebraska
         Hyrum, Utah
         Louisville, Kentucky
         Marshalltown, Iowa
         Worthington, Minnesota

PRODUCTS:

         Blood meal
         Inedible tallow
         Edible tallow
         Meat and bone meal
         Choice white grease
         Lard

PRICING:

         The USDA Tallow, Protein and Hide Report, FOB Central U.S. daily price
for each Product (USDA report NW_LS442) will be used to calculate a weekly
average (Friday through Thursday). The spreads to that weekly average (defined
below) will determine the purchase price for each Product at each Facility for
the following week. The price and volume will be established on Thursday
afternoon for the following week. Prices will be determined on a three (3) week
rolling average.

Bloodmeal

         Greeley                    Even U.S.D.A. FOB Central
         Grand Island               Even U.S.D.A. FOB Central
         Dumas                      Even U.S.D.A. FOB Panhandle
         Nampa                      "***" U.S.D.A. FOB Central
         Hyrum                      "***" U.S.D.A. FOB Central

                                        8

<PAGE>
Inedible Tallow

         Greeley                    "***" Chicago Packer Tallow
         Grand Island               "***" Chicago Packer Tallow
                                    "***" for polished inedible tallow
         Dumas                      "***" Gulf Packer Tallow, if no Gulf
                                    Packer then Chicago Packer Tallow "***"
         Omaha                      "***" Chicago Packer Tallow
         Nampa                      "***" Chicago Packer Tallow
         Hyrum                      "***" Chicago Packer Tallow

Edible Tallow

         Greeley                    "***" Chicago Edible Tallow
         Grand Island               "***" Chicago Edible Tallow
         Dumas                      "***" Gulf Edible Tallow, if no Gulf
                                    Packer then Chicago Packer Tallow "***"
         Hyrum                      "***" Chicago Edible Tallow

Meat and Bone Meal

         Greeley                    "***" U.S.D.A. FOB Central
         Grand Island               "***" U.S.D.A. FOB Central
         Dumas                      even $/ton vs. U.S.D.A. FOB Panhandle
         Omaha                      ((U.S.D.A. FOB Central/"***") x actual
                                    protein of Product) "***"
         Nampa                      "***" U.S.D.A. FOB Central
         Hyrum                      "***" U.S.D.A. FOB Central

** Meat and Bone Meal pricing will be adjusted in order to reimburse Swift for
their antioxidant treatment costs as follows:

         Greeley:
                Swift will apply PET-OX at 400ppm. CTG will pay Swift "***"
                for this treatment, by adjusting Greeley's price to "***"
                USDA F.O.B. Central
         Grand Island:
                Swift will apply PET-OX at 500ppm. CTG will pay Swift "***"
                for this treatment, by adjusting Grand Island's price to
                "***" USDA F.O.B. Central
         Dumas:
                Swift will apply REND-OX at 400ppm at no charge.

                                        9

<PAGE>
No current application at Omaha, Hyrum or Nampa.

Other Products produced at the Facilities that are not reflected in the USDA
Tallow, Protein and Hide Report; (e.g., #2 grease, low protein meat and bone
meal) shall be priced on a spot market basis mutually agreed to by Swift and
CTG.

SWIFT AND COMPANY (SWIFT hog division)- The USDA Tallow, Protein, and Hide
Report - FOB Central U.S. daily price for each Product (USDA report NW_LS442)
will be used to calculate a weekly average (Friday through Thursday). The
spreads to that weekly average (defined below) will determine the purchase price
for each Product at each Facility for the following week. The price and volume
will be established on Thursday afternoon for the following week. Prices will be
determined on a three (3) week rolling average.

Bloodmeal

         Louisville                 Even U.S.D.A. FOB Central
         Marshalltown               Even U.S.D.A. FOB Central
         Worthington                Even U.S.D.A. FOB Central

Choice White Grease

         Louisville                 Even U.S.D.A. FOB Central
         Marshalltown               Even U.S.D.A. FOB Central
         Worthington                Even U.S.D.A. FOB Central

Lard

         Louisville                 "***" U.S.D.A. FOB Central
         Marshalltown               "***" U.S.D.A. FOB Central
         Worthington                "***" U.S.D.A. FOB Central

Meat and Bone Meal

         Louisville                 Even to Pork Meat & Bone Meal U.S.D.A.
                                    FOB Central
         Marshalltown               Even to Pork Meat & Bone Meal U.S.D.A.
                                    FOB Central
         Worthington                "***" Pork Meat & Bone Meal U.S.D.A.
                                    FOB Central

Other Products produced by Swift's Facilities that are not reflected in the USDA
Central US By-Product report (e.g., brown grease) to be priced on a spot market
basis mutually agreed to by Swift and CTG.

                                       10

<PAGE>

** In the event USDA fails to publish prices as provided herein; (either
temporarily or permanently), the parties agree to use good faith efforts to
reach a mutual agreement on an amended pricing mechanism. In the event that the
parties cannot agree to the terms of the amendment, (within 5 consecutive days
of both parties awareness of USDA's failure to publish product prices) the
parties agree to use a mutually agreeable third party to identify an alternative
pricing mechanism. The decision of the third party shall be binding for both
parties.

                                       11

<PAGE>

                                   EXHIBIT "B"

                                PURCHASE CONTRACT

Refer to attached.

                                       12

<PAGE>
ConAgra Foods
ConAgra Trade Group, Inc.

                                                            CONTRACT OF PURCHASE

                                        CTG
                                        ELEVEN CONAGRA DRIVE
                                        OMAHA, NE 68102
                                        PH: (402) 595-7130

         S ***  1360817                            ***  DATE:
         E *    SWIFT & COMPANY                      *  OUR NO:
         L *                                         *  YOUR NO:
         L *    17000 PROMONTORY CTR                 *  BROKER:
         E *    GREELEY CO 80634                     *  BRKR NO:
         R ***                                     ***

CONAGRA TRADE GROUP, INC., (BUYER) AGREES TO BUY AND THE SELLER AGREES TO SELL
THE FOLLOWING DESCRIBED COMMODITIES. THIS IS A CONTRACT AND IS SUBJECT TO THE
TERMS AND CONDITIONS STATED BELOW AND REVERSE.

         COMMODITY:                                     PRICE:   $
         QUANTITY:                                      F.O.B.:
         SHIPMENT:                                      WEIGHTS TO APPLY: ORIGIN
                                                        TERMS: NET 15 DAYS

         REMARKS:

CONTRACT ACCEPTED:   SWIFT & COMPANY            CONAGRA TRADE GROUP, INC.

BY:                                             BY:
    --------------------------------                ----------------------------

            PLEASE SIGN CUSTOMER COPY 2 AND RETURN TO US IMMEDIATELY

                    ANY OBJECTIONS MUST BE REPORTED BY WIRE

                                CUSTOMER COPY 1

--------------------------------------------------------------------------------
     NOTICE: THE PROVISIONS OF THIS CONTRACT CONTAINED ON THE REVERSE SIDE
        HEREOF ARE EXPRESSLY MADE PART OF THIS CONTRACT--READ CAREFULLY.
--------------------------------------------------------------------------------

<PAGE>

                                  [ILLEGIBLE]

         1. Whether or not Seller is an active member of any of the following
associations, and to the extent not inconsistent with the terms and conditions
of this Contract, the rules, regulations and standards of the following
associations (the "Associations") shall apply respectively to each of the
commodities governed thereby: the National Grain and Feed Association, the
American Fats and Oils Association, the National Oilseed Processors Association,
the American Dehydrators Association, the Canadian Oilseed Processors
Association, and the National Cottonseed Products Association. If more than one
Association pruports to govern a given commodity,the rules and regulations of
the association appearing later in the list shall apply.

         2. Buyer and Seller may be collectively referred to as "the Parties" or
individually as "the Party".

         3. Whether or not an active member of any of the Associations
referenced in Paragraph I hereof, Seller acknowledges that it understands the
provisions of the applicable Association's rules, regulations and standards, and
Seller agrees to be bound thereby. The Parties agree to settle any controversies
hereunder by arbitration, that the arbitration rules of the applicable
Association shall be the basis of said arbitration or if the applicable
Association does not have arbitration rules, then according to the rules of the
American Arbitration Association, and that the decision and award determined by
such arbitration shall be final and binding upon the Parties.

         4. It is agreed that neither Party to this contract shall delegate the
performance of any obligation hereunder nor assign any rights arising hereunder,
to any third person without the prior written consent of the other Party.

         5. Seller warrants that commodities delivered under this Contract will
be free and clear, from and after time of delivery, of any security interest,
lien, claim or encumbrance and that seller has good and merchantable title
thereto. Seller agrees that should any lien, security interest or encumbrance be
claimed against any commodity sold hereunder, Seller will immediately cause the
same to be discharged and terminated; and, will further; hold Buyer harmless
therefrom; and, indemnify Buyer from any costs or losses incurred as a result of
such claim.

         6. Seller expressly represents and warrants that the commodity or
commodities hereby purchased are of the grade indicated, and if none is
indicated, that the commodity or commodities are suitable for feeding to poultry
and livestock. Seller indemnifies and holds Buyer harmless against any
liability, loss or damage related to the failure of any portion of the
commodities purchased hereunder to meet Food and Drug Administration or other
applicable governmental agency's rules, regulations and standards for said
commodity, as well as the applicable Association's (as referenced in paragraph 1
hereof) rules, regulations, and standards for such commodity. Buyer's payment
will not constitute acceptance of a commodity sold hereunder or serve to waive
Buyer's rights to reject the commodity or recover damages should the commodity
fail to comply with the terms or specifications of this contract. Buyer
specifically reserves all rights and remedies available to it under the
applicable Association's (referenced in Paragraph 1 hereof) rules, regulations,
and standards; and the Uniform Commercial Code in effect within the jurisdiction
under which this Purchase Contract is governed, if any of the commodity sold
hereunder fails to comply with the warranties, descriptions, and requirements
set forth in this Contract, or the applicable Association's (referenced in
Paragraph 1 hereof) rules, regulations, and standards. In addition to and
without waiving any of Buyer's other remedies hereunder, Buyer may, at its sole
option, request that the Seller replace any or all portions of any shipment of
commodities hereunder which fails to comply with the terms of this Contract;
said replacement shipment to be at Seller's sole cost and expense and occur
within seven days of Seller's receipt of Buyer's notice of the commodity's
non-compliance with this Contract.

         7. Buyer expressly reserves the right to cancel this Contract within
the meaning of UCC Section 2106 based upon the occurrence of any of the
following; (a) the insolvency or financial condition of Seller, (b) the
appointment for taking possession of any Seller's assets or any part thereof by
any third party, including a trustee, receiver, creditor or other party; (c) the
breach of any warranty; or, (d) any other defaults hereunder.

         8. In the event Seller breaches this Contract in any manner, Seller
shall be liable to Buyer for any and all damages, including consequential
damages, incidental damages, and any lost profits incurred as a result thereof
and shall pay Buyer's reasonable attorney fees, court costs and expenses
incurred in the enforcement of this contract and any collection activities
related thereto.

         9. Railcars must be loaded to capacity as required by railroad
companies. Seller to pay weighing, inspection, trackage, and interest charges,
if any. Reconsigned cars cannot be utilized on this contract unless consented to
by Buyer in writing prior to loading. Buyer reserves the right to change
destination of all shipments prior to departure of the railcar from Seller's
facility.

         10. If a confirmation calls for delivery beyond fourteen (14) days from
the date of the contract, Buyer may demand from Seller a margin deposit of ten
percent (10%) of the gross value of the contract to be considered as margin on
equity, and Buyer may demand such further payments form Seller as may be
necessary to maintain a deposit on the contract of ten percent (10%) of the
gross value of the contract, plus an amount equal to the difference between the
contract-price-value and the prevailing market price-value, if the market is
above the contract price Seller agrees to pay such margin on demand and if not
paid, Buyer may exercise the same rights as if Seller had defaulted on the
contract.

         11. Each Party consents to the recording of all telephone conversations
between its representatives and the representatives of the other party.

         12. Any provision of this Contract which is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective only to the
extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof or affecting the validity or enforceability of such
provision in any other jurisdiction.

         13. Seller warrants it has read this contract in its entirety and
understands its terms and legal effect. This Contract constitutes the entire
understanding between the Parties hereto and no modification or amendment of
this Contract shall be valid or binding unless agreed to by both Parties and
confirmed by a writing signed by the party to be charged. Seller agrees that the
terms hereof are acceptable and that Seller intends to be bound by the terms of
this Contract even if said terms differ from or conflict with the terms or
conditions contained in Seller's offer, acceptance on form of contract for such
purchase.

         14. Unless otherwise exempt, this Purchase Order incorporates by
reference the EEO Clause contained in 41 C.F.R. Sections 60-1.4, 60-741.5, and
60-250.5.

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