Document:

<PAGE>

                                                                   Exhibit 10.18
                          THL Food Products Holding Co.
                          -----------------------------

                             2003 Stock Option Plan

          SECTION 1.  Purpose. The purposes of the THL Food Products Holding Co.
2003 Stock Option Plan (the "Plan") are to promote the interests of THL Food
Products Holding Co. and its direct and indirect stockholders by (i) attracting
and retaining exceptional officers and key employees to the Company and its
Subsidiaries and (ii) enabling such individuals to participate in the long-term
growth and financial success of the Company and its Subsidiaries. The Plan is a
compensatory benefit plan within the meaning of Rule 701 of the Securities Act
and, unless and until the Common Stock (as defined herein) is publicly traded,
the issuance of options to purchase Common Stock pursuant to the Plan and the
issuance of Common Stock pursuant to such options is intended to qualify for the
exemption from registration under the Securities Act provided by Rule 701.
Grants of "nonqualified stock options" or "incentive stock options" may be made
under the Plan.

          SECTION 2.  Definitions. As used in the Plan, the following terms
shall have the meanings set forth below:

          "Affiliate" shall mean any entity that, directly or indirectly, is
     controlled by, controls or is under common control with, the Company.

          "Award Agreement" shall mean any written agreement, contract, or other
     instrument or document evidencing any Option, which may, but need not, be
     executed or acknowledged by a Participant.

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

          "Cause" shall have the meaning set forth in a Participant's Management
     Unit Subscription Agreement. If the Participant has not entered into a
     Management Unit Subscription Agreement, "Cause" shall have the same meaning
     ascribed to such term in any employment or severance agreement then in
     effect between Participant and the Company or one of its Subsidiaries or,
     if no such agreement containing a definition of "Cause" is then in effect,
     shall mean (i) the continued failure of the Participant to perform
     substantially the Participant's duties with the Company or one of its
     Affiliates (other than any such failure resulting from incapacity due to
     physical or mental illness), after a written demand for substantial
     performance is delivered to the Participant by the Board which specifically
     identifies the manner in which the Board believes that the Participant has
     not substantially performed the Participant's duties; (ii) the engaging by
     the Participant in illegal conduct or gross misconduct which is materially
     and demonstrably injurious to the Company or one of its Affiliates; or
     (iii) the indictment, prosecution or conviction of a felony or guilty or
     nolo contendere plea by the Participant with respect thereto.

<PAGE>

          "Code" shall mean the Internal Revenue Code of 1986, as amended from
     time to time.

          "Committee" shall mean the compensation committee of the Board, or
     such other committee of the Board as may be designated by the Board to
     administer the Plan.

          "Common Stock" shall mean shares of common stock of the Company, par
     value $.01 per share.

          "Company" shall mean THL Food Products Holding Co., a Delaware
     corporation, and (except to the extent the context requires otherwise) any
     subsidiary company of THL Food Products Holding Co. as such term is defined
     in Section 424(f) of the Code.

          "Exchange Act" shall mean the Securities Exchange Act of 1934, as
     amended.

          "Fair Market Value" unless otherwise defined in Participant's Award
     Agreement, shall mean the fair value of the Common Stock as determined in
     good faith by the Committee (without taking into account the effect of any
     contemporaneous repurchase of Common Stock at less than Fair Market Value
     under a Company repurchase right).

          "Investors" shall mean THL-MF Investors, LLC, a Delaware limited
     liability company.

          "Management Unit Subscription Agreement" shall mean any Management
     Unit Subscription Agreement between Investors and the Participant, unless
     the Participant has not entered into a Management Stock Purchase and Unit
     Subscription Agreement.

          "Option" shall mean a right to purchase Option Shares from the Company
     that is granted under Section 6 of the Plan.

          "Option Shares" shall mean (i) shares of Common Stock granted pursuant
     to the Plan, (ii) all adjusted shares of Common Stock received as a result
     of adjustments pursuant to Section 4(b) hereof or (iii) all shares of
     Common Stock issued with respect to the Common Stock referred to in clause
     (i) above by way of stock dividend or stock split or in connection with any
     conversion, merger, consolidation or recapitalization or other
     reorganization affecting the Common Stock. Option Shares shall continue to
     be Option Shares in the hands of any holder other than the Participant
     (except for the Company), and each such transferee thereof shall succeed to
     the rights and obligations of a holder of Option Shares hereunder.

          "Participant" shall mean any officer or key employee of the Company or
     its Subsidiaries who has been selected to participate in the Plan by the
     Committee or the

                                        2

<PAGE>

     Board. A Person shall remain a Participant under this Plan as long as such
     Person holds Options or Option Shares.

          "Person" shall mean any individual, corporation, partnership, limited
     liability company, association, joint-stock company, trust, unincorporated
     organization, government or political subdivision thereof or other entity.

          "Plan" shall mean this THL Food Products Holding Co. 2003 Stock Option
     Plan.

          "Public Offering" means a sale of Common Stock to the public in an
     offering pursuant to an effective registration statement filed with the SEC
     pursuant to the Securities Act, as then in effect, provided that a Public
     Offering shall not include an offering made in connection with a business
     acquisition or combination or an employee benefit plan.

          "Sale of the Company" means the consummation of a transaction, whether
     in a single transaction or in a series of related transactions that are
     consummated contemporaneously (or consummated pursuant to contemporaneous
     agreements), with any other Person or group of related Persons on an
     arm's-length basis other than an affiliate of THL, pursuant to which such
     party or parties (a) acquire (whether by merger, stock purchase,
     recapitalization, reorganization, redemption, issuance of capital stock or
     otherwise) more than 50% of the voting stock of the Company or (b) acquire
     assets constituting all or substantially all of the assets of the Company
     and its Subsidiaries on a consolidated basis; provided, however, that in no
     event shall a Sale of the Company be deemed to include any transaction
     effected for the purpose of (i) changing, directly or indirectly, the form
     of organization or the organizational structure of the Company or any of
     its Subsidiaries or (ii) contributing stock to entities controlled by the
     Company.

          "SEC" shall mean the Securities and Exchange Commission or any
     successor thereto and shall include the staff thereof.

          "Securities Act" shall mean the Securities Act of 1933, as amended.

          "Subsidiary" shall mean any entity that, directly or indirectly, is
     controlled by the Company.

          "THL" shall mean Thomas H. Lee Equity Fund V, L.P., and any of its
     Affiliates.

          SECTION 3.  Administration. (a) The Plan shall be administered by the
Committee. Subject to the terms of the Plan, any Award Agreement and applicable
law, and in addition to other express powers and authorizations conferred on the
Committee by the Plan, the Committee shall have full power and authority to: (i)
designate Participants; (ii) determine the type or types of Options to be
granted to a Participant; (iii) determine the number of Option

                                        3

<PAGE>

Shares to be covered by, or with respect to which payments, rights, or other
matters are to be calculated in connection with, Options; (iv) determine the
terms and conditions of any Option; (v) determine whether, to what extent, and
under what circumstances Options may be settled or exercised in cash, Option
Shares, other securities, other Options or other property, or canceled,
forfeited, or suspended and the method or methods by which Options may be
settled, exercised, canceled, forfeited, or suspended; (vi) determine whether,
to what extent, and under what circumstances cash, Option Shares, other
securities, other Options, other property, and other amounts payable with
respect to an Option shall be deferred either automatically or at the election
of the holder thereof or of the Committee; (vii) interpret, administer,
reconcile any inconsistency, correct any default and/or supply any omission in
the Plan and any instrument or agreement relating to, or Option made under, the
Plan; (iv) establish, amend, suspend or waive such rules and regulations and
appoint such agents as it shall deem appropriate for the proper administration
of the Plan; and (ix) make any other determination and take any other action
that the Committee deems necessary or desirable for the administration of the
Plan.

          (b)  Unless otherwise expressly provided in the Plan and subject to
the terms of any Award Agreement, all designations, determinations,
interpretations and other decisions under or with respect to the Plan or any
Option shall be within the sole discretion of the Committee, may be made at any
time and shall be final, conclusive and binding upon all Persons, including the
Company, any Affiliate, any Participant, any holder or beneficiary of any
Option, and any holder of Option Shares.

          (c)  No member of the Committee shall be liable for any action or
determination made in good faith with respect to the Plan or any Option
hereunder.

          SECTION 4.  Shares Available for Options. (a) Subject to adjustment as
provided in Section 4(b), the aggregate number of Option Shares with respect to
which Options may be granted under the Plan shall equal [25,000]. If, after the
effective date of the Plan, any Option Shares covered by an Option granted under
the Plan, or to which such an Option relates, are forfeited, or if an Option has
expired, terminated or been cancelled for any reason whatsoever (other than by
reason of exercise or vesting), then the Option Shares covered by such Option
shall again be, or shall become, Option Shares with respect to which Options may
be granted hereunder.

          (b)  Adjustments. In the event that the Committee determines that any
Sale of the Company, dividend or other distribution (whether in the form of
cash, Option Shares, other securities, or other property), recapitalization,
stock split, reverse stock split, reorganization, merger, consolidation,
split-up, spin-off, combination, repurchase, or exchange of Option Shares or
other securities of the Company, issuance of warrants (other than to creditors)
or other rights to purchase Option Shares or other securities of the Company, or
other similar corporate transaction or event affects the Option Shares such that
an adjustment is determined by the Committee in its discretion to be necessary
or appropriate in order to prevent dilution or enlargement of the benefits or
potential benefits intended to be made available under the Plan,

                                        4

<PAGE>

then the Committee shall, in such manner as it in good faith deems equitable,
adjust any or all of (i) the number of Option Shares or other securities of the
Company (or number and kind of other securities or property) with respect to
which Options may be granted, (ii) the number of Option Shares or other
securities of the Company (or number and kind of other securities or property)
subject to outstanding Options, and (iii) the exercise price with respect to any
Option.

          (c)  Substitute Options. Options may be granted, in the discretion of
the Committee, under the Plan in assumption of, or in substitution for,
outstanding awards previously granted by a company acquired by the Company or
with which the Company combines ("Substitute Options"). The number of Option
Shares underlying any Substitute Options shall be counted against the aggregate
number of Option Shares available for Options under the Plan.

          (d)  Sources of Option Shares Deliverable Under Options. Any Option
Shares delivered pursuant to an Option may consist, in whole or in part, of
authorized and unissued Common Stock or of treasury shares.

          SECTION 5.  Eligibility. Any officer or key employee of the Company or
any of its Subsidiaries shall be eligible to be designated a Participant.

          SECTION 6.  Stock Options.

          (a)  Grant. Subject to the provisions of this Plan, the Committee
shall have sole and complete authority to determine the Participants to whom
Options shall be granted, the number of Option Shares to be covered by each
Option, the exercise price therefor and the conditions and limitations
applicable to the exercise of the Option.

          None of the Options granted under the Plan are intended to meet the
requirements of Section 422 of the Code or any successor provision thereto
unless such intent is stated explicitly in the Award Agreement; provided, that
the Committee shall have the authority to grant Options that are intended to
meet the requirements of Section 422 of the Code or any successor provision
thereto. Unless otherwise provided in the applicable Award Agreement, all
Options granted by the Committee shall expire ten years after the date such
Options are granted.

          (b)  Exercise Price. The Committee shall establish the exercise price
at the time each Option is granted, which exercise price shall be set forth in
the applicable Award Agreement and shall be not less than the Fair Market Value
as of the date of grant.

          (c)  Exercise. Each Option shall be exercisable at such times and
subject to such terms and conditions as the Committee may, in its sole
discretion, specify in the applicable Award Agreement or, with the consent of
the Participant thereafter. The Committee may impose such conditions with
respect to the exercise of Options, including without limitation, any relating
to the application of federal or state securities laws, as it may deem necessary
or advisable.

                                        5

<PAGE>

          (d)  Vesting. Unless otherwise provided in the applicable Award
Agreement, all Options granted by the Committee shall vest over a five year
period, in five equal annual installments beginning on the first anniversary of
the date of grant; provided that in no event shall such Options vest over
greater than a five year period. If, for any reason, a Participant is terminated
from employment by the Company or any of its Subsidiaries, all unvested Options
shall be cancelled. Unless otherwise provided in the applicable Award Agreement,
all vested Options not exercised within ninety (90) days following termination
shall be cancelled, unless such Participant has been terminated by the Company
for Cause, in which case such vested Options shall immediately be cancelled upon
termination. Unless otherwise provided in the applicable Award Agreement, if the
Participant's employment is terminated other than by the Company for Cause, the
Company will provide notice to such Participant setting forth the Fair Market
Value of the Common Stock underlying such Options within ninety (90) days after
such termination.

          (e)  Payment. No Option Shares shall be delivered pursuant to any
exercise of an Option until payment in full of the aggregate exercise price
therefor is received by the Company. Such payment shall be made (i) in cash or
by bank check, (ii) after a Public Offering, through simultaneous sales of
underlying Option Shares by brokers, or (iii) in Option Shares or other shares
of Common Stock which have been owned by the Participant for at least six
months, such Option Shares and/or shares of Common Stock to be valued at their
Fair Market Value as of the date of exercise.

          SECTION 7.  Amendment and Termination.

          (a)  Amendments to the Plan. The Board may amend, alter, suspend,
discontinue or terminate the Plan or any portion thereof at any time; provided
that any such amendment, alteration, suspension, discontinuance or termination
that would materially impair the rights of any Participant or any holder or
beneficiary of any Option theretofore granted shall not to that extent be
effective without the consent of the affected Participant, holder or
beneficiary.

          (b)  Amendments to Options. The Committee may waive any conditions or
rights under, amend any terms of, or alter any Option theretofore granted,
prospectively or retroactively; provided that any such waiver, amendment or
alteration that would impair the rights of any Participant or any holder or
beneficiary of any Option theretofore granted shall not to that extent be
effective without the consent of the affected Participant, holder or
beneficiary. In addition, with the consent of any Participant, holder or
beneficiary, the Company may suspend, discontinue, cancel or terminate any
Option theretofore granted, prospectively or retroactively.

          SECTION 8.  Sale of the Company. In the event of a Sale of the
Company, the Committee may (i) terminate without payment of any kind any Vested
Options that have an

                                        6

<PAGE>

exercise price in excess of the Fair Market Value per share of Common Stock
(measured as of the date of such Sale of the Company), or (ii) terminate any
Vested Options for a payment in such form and for such amount as the Committee
may determine over such Option's exercise price, multiplied by the number of
Options to be terminated, and/or (iii) immediately vest any unvested Options,
causing such Options to become immediately exercisable for, and, subject to the
provisions herein and in the applicable Award Agreement, relating to, Option
Shares.

          SECTION 9.  General Provisions.

          (a)  Nontransferability. Options may not be transferred other than by
will or the laws of descent and distribution and, during the lifetime of the
Participant, may be exercised only by such Participant (or his legal guardian or
legal representative). In the event of the death of a Participant, exercise of
Options granted hereunder shall be made only:

               i.   by the executor or administrator of the estate of the
                    deceased Participant or the Person or Persons to whom the
                    deceased Participant's rights under the Option shall pass by
                    will or the laws of descent and distribution; and

               ii.  to the extent that the deceased Participant was entitled
                    thereto at the date of his death, unless otherwise provided
                    by the Committee in such Participant's Award Agreement.

          (b)  No Rights to Options. No Participant or other Person shall have
any claim to be granted any Option, and there is no obligation for uniformity of
treatment of Participants, or holders or beneficiaries of Options. The terms and
conditions of Options and the Committee's determinations and interpretations
with respect thereto need not be the same with respect to each Participant
(whether or not such Participants are similarly situated).

          (c)  Share Certificates. All certificates for Option Shares or other
securities of the Company delivered under the Plan pursuant to any Option or the
exercise thereof shall be subject to such stop transfer orders and other
restrictions as the Committee may deem advisable under the rules, regulations,
and other requirements of the SEC, any stock exchange upon which such Option
Shares or other securities are then listed, any applicable federal or state
laws, and any applicable written agreements between THL, and/or the Company and
the Participants and the Committee may cause a legend or legends to be put on
any such certificates to make appropriate reference to such restrictions.

          (d)  Withholding.

               (i)  The Company shall be entitled, if necessary or desirable, to
withhold from any Participant, from any amounts due and payable by the Company
to such Participant (or secure payment from such Participant in lieu of
withholding), the statutory

                                        7

<PAGE>

minimum amount of any withholding or other tax due from the Company with respect
to any securities issuable under the Options, and the Company may defer the
exercise of the Options or the issuance of the Option Shares thereunder unless
indemnified to its satisfaction.

               (ii) Notwithstanding any provision of this Plan to the contrary,
in connection with the transfer of an Option to a transferee pursuant to Section
9(a) of the Plan, the grantee shall remain liable for any withholding taxes
required to be withheld upon the exercise of such Option by the transferee.

          (e)  Award Agreements. Each Option hereunder shall be evidenced by an
Award Agreement, which shall be delivered to the Participant and shall specify
the terms and conditions of the Option and any rules applicable thereto,
including but not limited to the effect on such Option of the death, disability
or termination of employment or service of a Participant, and the effect, if
any, of such other events as may be determined by the Committee.

          (f)  No Limit on Other Compensation Arrangements. Nothing contained in
the Plan shall prevent the Company or any Affiliate from adopting or continuing
in effect other compensation arrangements, which may, but need not, provide for
the grant of options (subject to stockholder approval if such approval is
required), and such arrangements may be either generally applicable or
applicable only in specific cases.

          (g)  No Right to Employment. The grant of an Option shall not be
construed as giving a Participant the right to be retained in the employ of, or
in any consulting relationship to, the Company or any Affiliate. Further, the
Company or an Affiliate may at any time dismiss a Participant from employment or
discontinue any consulting relationship, free from any liability or any claim
under the Plan, unless otherwise expressly provided in the Plan or in any Award
Agreement.

          (h)  No Rights as Stockholder. Subject to the provisions of the
applicable Option, no Participant or holder or beneficiary of any Option shall
have any rights as a stockholder with respect to any Option Shares to be
distributed under the Plan until he or she has become the holder of such Option
Shares.

          (i)  Governing Law. The validity, construction, and effect of the Plan
and any rules and regulations relating to the Plan and any Award Agreement shall
be determined in accordance with the laws of the State of Delaware applicable to
contracts made and to be performed therein.

          (j)  Severability. If any provision of the Plan or any Option is or
becomes or is deemed to be invalid, illegal, or unenforceable in any
jurisdiction or as to any Person or Option, or would disqualify the Plan or any
Option under any law deemed applicable by the Committee, such provision shall be
construed or deemed amended to conform to the applicable laws, or if it cannot
be construed or deemed amended without, in the determination of the

                                        8

<PAGE>

Committee, materially altering the intent of the Plan or the Option, such
provision shall be stricken as to such jurisdiction, Person or Option and the
remainder of the Plan and any such Option shall remain in full force and effect.

          (k)  Other Laws. The Committee may refuse to issue or transfer any
Option Shares or other consideration under an Option if, acting in its sole
discretion, it determines that the issuance or transfer of such Option Shares or
such other consideration will violate any applicable law or regulation or
entitle the Company to recover the same under Section 16(b) of the Exchange Act,
and any payment tendered to the Company by a Participant, other holder or
beneficiary in connection with the exercise of such Option shall be promptly
refunded to the relevant Participant, holder or beneficiary. Without limiting
the generality of the foregoing, no Option granted hereunder shall be construed
as an offer to sell securities of the Company, and no such offer shall be
outstanding, unless and until the Committee in its sole discretion has
determined that any such offer, if made, would be in compliance with all
applicable requirements of the U.S. federal and any other applicable securities
laws.

          (l)  No Trust or Fund Created. Neither the Plan nor any Option shall
create or be construed to create a trust or separate fund of any kind or a
fiduciary relationship between the Company or any Affiliate and a Participant or
any other Person. To the extent that any Person acquires a right to receive
payments from the Company or any Affiliate pursuant to an Option, such right
shall be no greater than the right of any unsecured general creditor of the
Company or any Affiliate.

          (m)  Headings. Headings are given to the sections and subsections of
the Plan solely as a convenience to facilitate reference. Such headings shall
not be deemed in any way material or relevant to the construction or
interpretation of the Plan or any provision thereof.

          SECTION 10. Term of the Plan.

          (c)  Effective Date. The Plan shall be effective as of the date of its
approval by the persons and/or entities who own more than 75% of the voting
power of all outstanding stock of the Company, determined in a manner consistent
with Section 280G(b)(5) of the Code, as amended, and the proposed regulations
promulgated thereunder. If such approval is not obtained, this Plan and any
Options granted under the Plan shall be null and void and of no force and
effect.

          (d)  Expiration Date. No Option shall be granted under the Plan after
ten years. Unless otherwise expressly provided in the Plan or in an applicable
Award Agreement, the authority of the Board or the Committee to amend, alter,
adjust, suspend, discontinue, or terminate any such Option or to waive any
conditions or rights under any such Option shall, continue after ten years from
November 20, 2003.

                                        9

<PAGE>

          SECTION 11. Indemnification. In addition to such other rights of
indemnification as they may have as members of the Board or the Committee, the
members of the Board and the Committee shall be indemnified by the Company
against all costs and expenses reasonably incurred by them in connection with
any action, suit or proceeding to which they or any of them may be party by
reason of any action taken or failure to act under or in connection with the
Plan or any Option granted hereunder, and against all amounts paid by them in
settlement thereof (provided such settlement is approved by independent legal
counsel selected by the Company) or paid by them in satisfaction of a judgment
in any such action, suit or proceeding; provided that any such Board or
Committee member shall be entitled to the indemnification rights set forth in
this Section 11 only if such member has acted in good faith and in a manner that
such member reasonably believed to be in or not opposed to the best interests of
the Company and, with respect to any criminal action or proceeding, had no
reasonable cause to believe that such conduct was unlawful, and further provided
that upon the institution of any such action, suit or proceeding a Board or
Committee member shall give the Company written notice thereof and an
opportunity, at its own expense, to handle and defend the same before such Board
or Committee member undertakes to handle and defend it on his own behalf.

                                       10<PAGE>

                                                                   Exhibit 10.19

                                                                  Execution Copy

                              MANAGEMENT AGREEMENT

     This Management Agreement (this "Agreement") is entered into as of the 20th
day of November, 2003, by and between Michael Foods, Inc., a Delaware
corporation, f/k/a M-Foods Holding, Inc. (the "Company"), and THL Managers V,
LLC, a Delaware limited liability company (the "Sponsor").

          WHEREAS, certain affiliates of THL have provided equity financing to
the Company's indirect parent, MF Investors, LLC, a Delaware limited liability
company ("Investors"), pursuant to that certain Contribution Agreement dated as
of November 20, 2003, by and among Investors and the persons listed on the
signatures pages thereto.

          WHEREAS, Investors' subsidiary, THL Food Products Holdings Co.
("Holdings"), and Holdings' subsidiary, THL Food Products Co. ("Merger Co.")
entered into that certain Agreement and Plan of Merger by and among Holdings,
Merger Co. and the Company pursuant to which, as of the date hereof, Merger Co.
merged with and into the Company (the "Merger").

          WHEREAS, immediately following the Merger, Michael Foods, Inc., a
Minnesota corporation, merged with and into the Company and the Company changed
its name to Michael Foods, Inc.

          WHEREAS, the Sponsor has staff specifically skilled in corporate
finance, strategic corporate planning, and other management skills and advisory
services.

          WHEREAS, the Company will require the Sponsor's special skills and
management advisory services in connection with its business operations and
execution of its strategic plan.

          WHEREAS, the Sponsor is willing to provide such skills and services to
the Company.

          NOW, THEREFORE, in consideration of the mutual covenants contained
herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto, intending to
be legally bound, hereby agree as follows:

          1.   Services. The Sponsor hereby agrees that if, during the term of
this Agreement (the "Term"), the Company reasonably and specifically requests
that the Sponsor provide the services set forth below and the Sponsor agrees to
provide such services, the Sponsor or one of its affiliates will provide the
following services to the Company and its subsidiaries:

          (a)  advice in connection with the negotiation and consummation of
agreements, contracts, documents and instruments related to the Company's
finances or relationships with banks or other financial institutions; or

          (b)  advice with respect to the development and implementation of
strategies for improving the operating, marketing and financial performance of
the Company, and other senior management matters related to the business,
administration and policies of the Company.

<PAGE>

     The Sponsor shall have no obligation to the Company as to the method or
timing of services rendered hereunder, and the Company shall not have any right
to dictate or direct the details of the performance of services by the Sponsor
rendered hereunder.

     The parties hereto expressly acknowledge that the services to be performed
hereunder by the Sponsor shall not include investment banking or other financial
advisory services rendered by Sponsor or its affiliates to the Company in
connection with any specific acquisition, divestiture, refinancing or
recapitalization by the Company or any of its subsidiaries for which the Sponsor
may be entitled to receive additional compensation by mutual agreement of the
Company or its subsidiary and the Sponsor. This Agreement shall in no way
prohibit the Sponsor or any of its affiliates or any of their respective
partners (both general and limited), members (both managing and otherwise),
officers, directors, employees, agents or representatives from engaging in other
activities, whether or not competitive with any business of the Company of any
of its affiliates.

     2.   Payment of Fees. In exchange for the Sponsor's arrangement of the
equity financing and agreement to provide the services set forth herein, the
Company hereby agrees to pay to the Sponsor (or its designee) the following
fees:

          (a)  a transaction fee in connection with the transactions
contemplated in the Merger Agreement payable at the Effective Time (as defined
in the Merger Agreement) of $15,000,000;

          (b)  a management fee (the "Fee") equal to the greater of (i)
$1,500,000 per year or (ii) 1.0% of Consolidated EBITDA (as defined in the
Credit Agreement dated as of November 20, 2003 by and among the Lenders from
time to time party thereto, Bank of America, N.A., Banc of America Securities
LLC, UBS Securities LLC, Deutche Bank, the Company and Holdings and certain of
the subsidiaries of the Company, as the same may be amended, modified, renewed,
refunded, replaced or refinanced from time to time) before deducting the Fee
payable pursuant to this Section 2(b) ("Adjusted EBITDA"), commencing at the
Effective Time. The Fee shall be payable semi-annually in advance (based on the
prior year's Adjusted EBITDA), with an adjustment of the Fee for any fiscal year
payable promptly following the determination of Adjusted EBITDA for such fiscal
year or on termination of this Agreement. The first installment of the Fee shall
be payable at the Effective Time. All references to "per annum" or "annual"
herein refer to the fiscal year of the Company. The initial Fee shall be pro
rated to reflect the portion of the current fiscal year which elapses prior to
the Effective Time; and

          (c)  customary and reasonable fees in connection with investment
banking, consulting or advisory services provided by the sponsor or its
affiliates in connection with any sale of the Company and its Subsidiaries in a
single transaction or series of related transactions.

     Each payment made pursuant to this Section 2 shall be paid by wire transfer
of immediately available funds to the accounts specified on Exhibit A attached
hereto, or to such other account(s) as each Sponsor may specify in writing to
the Company.

     3.   Term. This Agreement shall be effective as of the date hereof and
shall continue in full force and effect, unless and until (a) terminated by the
Sponsor, (b) terminated automatically on the date which the Sponsor and its
affiliates no longer beneficially owns at least twenty percent (20%) of the
equity securities of Investors, or (c) terminated by the Sponsor upon the
consummation

                                        2

<PAGE>

of any public offering of the equity securities of the Company or Holdings. Upon
any termination of this Agreement, each of (A) the obligations of the Company
under Section 4 below, (B) any and all owed and unpaid obligations of the
Company under Section 2 above and (C) the provisions of Section 7 shall survive
any termination of this Agreement to the maximum extent permitted under
applicable law. In the event that the Sponsor terminates this Agreement in
accordance with clause (c) above of this Section, the Company agrees to pay the
Sponsor a cash lump-sum termination fee equal to the net present value of the
fees that would have been payable to such Sponsor (but for the termination
hereof) pursuant to Section 2(b) hereof for a period of seven (7) years from the
date of such termination calculated using a discount rate equal to the ten-year
treasury rate on the date of such termination. Such termination fee shall be
payable by wire transfer of immediately available funds within ten (10) days
after the date of termination to the account specified on Exhibit A attached
hereto, or to such other account(s) as the Sponsor may specify in writing to the
Company. As used herein, the term "Person" shall be construed in the broadest
sense and means and includes a natural person, a partnership, a corporation, an
association, a joint stock company, a limited liability company, a trust, a
joint venture, an unincorporated organization and any other entity and any
federal, state, municipal, foreign or other government, governmental department,
commission, board, bureau, agency or instrumentality, or any private or public
court or tribunal.

     4.   Expenses; Indemnification.

     (a)  Expenses. In addition to the fees set forth in Section 2 hereof, the
Company agrees to pay on demand all costs and expenses incurred by the Sponsor
and their affiliates or any of them in connection with this Agreement and in
connection with performing services hereunder including but not limited to air
travel charged at charter equivalent rates, legal, consulting, out of pocket and
other expenses, including but not limited to the fees and disbursements of Weil,
Gotshal & Manges LLP, counsel to the Sponsor, and any other consultants or
advisors retained by the Sponsor or its respective counsel arising in connection
therewith, including but not limited to the preparation, negotiation and
execution of this Agreement, the performance of services hereunder (including,
without limitation, fees and expenses of independent professionals, research,
transportation and per diem costs).

     (b)  Indemnity and Liability. The Company will indemnify and hold harmless
the Sponsor, its affiliates and their respective partners (both general and
limited), members (both managing and otherwise), officers, directors, employees,
agents and representatives (each such Person being an "Indemnified Party") from
and against any and all losses, claims, damages and liabilities, whether joint
or several, expenses of any nature (including reasonable attorneys' fees and
disbursements), judgments, fines, settlements and other amounts arising from any
and all claims, demands, actions, suits or proceedings, whether civil, criminal,
administrative, arbitral or investigative, in which an Indemnified Party was
involved or may be involved, or threatened to be involved, as a party or
otherwise (the "Liabilities"), related to, arising out of or in connection with
the advisory and consulting services contemplated by this Agreement or the
engagement of the Sponsor pursuant to, and the performance by the Sponsor of the
services contemplated by, this Agreement, and any other action taken by an
Indemnified Party on behalf of the Company, whether or not pending or
threatened, and any other action taken by an Indemnified Party on behalf of the
Company, whether or not resulting in any liability and whether or not such
action, claim, suit, investigation or proceeding is initiated or brought by the
Company. The Company will reimburse any Indemnified Party for all reasonable
costs and expenses (including reasonable attorneys' fees and expenses) as they
are incurred in connection with investigating, preparing, pursuing, defending

                                        3

<PAGE>

or assisting in the defense of any action, claim, suit, investigation or
proceeding for which the Indemnified Party would be entitled to indemnification
under the terms of the previous sentence, or any action or proceeding arising
therefrom, whether or not such Indemnified Party is a party thereto, provided
that, subject to the following sentence, the Company shall be entitled to assume
the defense thereof at its own expense, with counsel satisfactory to such
Indemnified Party in its reasonable judgment. Any Indemnified Party may, at its
own expense, retain separate counsel to participate in such defense, and in any
action, claim, suit, investigation or proceeding in which both the Company
and/or one or more of its subsidiaries, on the one hand, and an Indemnified
Party, on the other hand, is, or is reasonably likely to become, a party, such
Indemnified Party shall have the right to employ separate counsel at the expense
of the Company and to control its own defense of such action, claim, suit,
investigation or proceeding if, in the reasonable opinion of counsel to such
Indemnified Party, a conflict or potential conflict exists between the Company,
on the one hand, and such Indemnified Party, on the other hand, that would make
such separate representation advisable. The Company agrees that it will not,
without the prior written consent of the applicable Indemnified Party, settle,
compromise or consent to the entry of any judgment in any pending or threatened
claim, suit, investigation, action or proceeding relating to the matters
contemplated hereby (if any Indemnified Party is a party thereto or has been
threatened to be made a party thereto) unless such settlement, compromise or
consent includes an unconditional release of the applicable Indemnified Party
and each other Indemnified Party from all liability arising or that may arise
out of such claim, suit, investigation, action or proceeding. Provided the
Company is not in breach of its indemnification obligations hereunder, no
Indemnified Party shall settle or compromise any claim subject to
indemnification hereunder without the consent of the Company. The Company will
not be liable under the foregoing indemnification provision with respect to any
Indemnified Party, to the extent that any loss, claim, damage, liability, cost
or expense is determined by a court, in a final judgment from which no further
appeal may be taken, to have resulted primarily from the gross negligence or
willful misconduct by an Indemnified Party. If an Indemnified Party is
reimbursed hereunder for any expenses, such reimbursement of expenses shall be
refunded to the extent it is finally judicially determined that the Liabilities
in question resulted primarily from the gross negligence or willful misconduct
of such Indemnified Party.

     The Company agrees that if any indemnification sought by any Indemnified
Party pursuant to this Section 4 is unavailable for any reason or is
insufficient to hold the Indemnified Party harmless against any Liabilities
referred to herein, then the Company shall contribute to the Liabilities for
which such indemnification is held unavailable or insufficient in such
proportion as is appropriate to reflect the relative benefits received (or
anticipated to be received) by the Company, on the one hand, and the Indemnified
Party, on the other hand, in connection with the transactions which gave rise to
such Liabilities or, if such allocation is not permitted by applicable law, not
only such relative benefits but also the relative faults of the Company, on the
one hand, and the Indemnified Party, on the other hand, as well as any other
equitable considerations, subject to the limitation that in any event the
aggregate contribution by the Indemnified Parties to all Liabilities with
respect to which contribution is available hereunder shall not exceed the fees
actually received by the Sponsors in connection with the transaction which gave
rise to such Liabilities (excluding any amounts paid as reimbursement of
expenses).

     5.   Assignment, etc. Except as provided below, neither the Company nor the
Sponsor shall have the right to assign this Agreement. The Sponsor acknowledges
that its services under this Agreement are unique. Accordingly, any purported
assignment by the Sponsor shall be void. Notwithstanding the foregoing, the
Sponsor may assign all or part of its rights and obligations

                                        4

<PAGE>

hereunder to any affiliate of such Sponsor which provides services similar to
those called for by this Agreement.

     6.   Amendments and Waivers. No amendment or waiver of any term, provision
or condition of this Agreement shall be effective, unless in writing and
executed by the Sponsor and the Company. No waiver on any one occasion shall
extend to or effect or be construed as a waiver of any right or remedy on any
future occasion. No course of dealing of any Person nor any delay or omission in
exercising any right or remedy shall constitute an amendment of this Agreement
or a waiver of any right or remedy of any party hereto.

     7.   Miscellaneous.

     (a)  Choice of Law. This Agreement shall be governed by and construed in
accordance with the domestic substantive laws of the State of New York without
giving effect to any choice or conflict of law provision or rule that would
cause the application of the domestic substantive laws of any other
jurisdiction.

     (b)  Consent to Jurisdiction. Each of the parties agrees that all actions,
suits or proceedings arising out of or based upon this Agreement or the subject
matter hereof shall be brought and maintained exclusively in the federal and
state courts of the State of New York. Each of the parties hereto by execution
hereof (i) hereby irrevocably submits to the jurisdiction of the federal and
state courts in the State of New York for the purpose of any action, suit or
proceeding arising out of or based upon this Agreement or the subject matter
hereof and (ii) hereby waives to the extent not prohibited by applicable law,
and agrees not to assert, by way of motion, as a defense or otherwise, in any
such action, suit or proceeding, any claim that it is not subject personally to
the jurisdiction of the above-named courts, that it is immune from
extraterritorial injunctive relief or other injunctive relief, that its property
is exempt or immune from attachment or execution, that any such action, suit or
proceeding may not be brought or maintained in one of the above-named courts,
that any such action, suit or proceeding brought or maintained in one of the
above-named courts should be dismissed on grounds of forum non conveniens,
should be transferred to any court other than one of the above-named courts,
should be stayed by virtue of the pendency of any other action, suit or
proceeding in any court other than one of the above-named courts, or that this
Agreement or the subject matter hereof may not be enforced in or by any of the
above-named courts. Each of the parties hereto hereby consents to service of
process in any such suit, action or proceeding in any manner permitted by the
laws of the State of New York, agrees that service of process by registered or
certified mail, return receipt requested, at the address specified in or
pursuant to Section 10 is reasonably calculated to give actual notice and waives
and agrees not to assert by way of motion, as a defense or otherwise, in any
such action, suit or proceeding any claim that service of process made in
accordance with Section 10 does not constitute good and sufficient service of
process. The provisions of this Section 7(b) shall not restrict the ability of
any party to enforce in any court any judgment obtained in a federal or state
court of the State of New York.

     (c)  Waiver of Jury Trial. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW
WHICH CANNOT BE WAIVED, EACH OF THE PARTIES HERETO HEREBY WAIVES, AND COVENANTS
THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT, OR OTHERWISE), ANY
RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE, CLAIM, DEMAND,
CAUSE OF ACTION, ACTION, SUIT OR PROCEEDING ARISING OUT OF OR BASED UPON THIS
AGREEMENT OR THE SUBJECT

                                        5

<PAGE>

HEREOF, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING AND WHETHER IN
CONTRACT OR TORT OR OTHERWISE. Each of the parties hereto acknowledges that it
has been informed by each other party that the provisions of this Section 7(c)
constitute a material inducement upon which such party is relying and will rely
in entering into this Agreement and the transactions contemplated hereby. Any of
the parties hereto may file an original counterpart or a copy of this Agreement
with any court as written evidence of the consent of each of the parties hereto
to the waiver of its right to trial by jury.

     8.   Independent Contractor. The parties agree and understand that the
Sponsor is and shall act as an independent contractor of the Company in the
performance of its duties hereunder. The Sponsor is not, and in the performance
of its duties hereunder will not hold itself out as, an employee, agent or
partner of the Company.

     9.   Merger/Entire Agreement. This Agreement contains the entire
understanding of the parties with respect to the subject matter hereof and
supersedes any prior communication or agreement with respect thereto.

     10.  Notice. All notices, demands, and communications of any kind which any
party may require or desire to serve upon any other party under this Agreement
shall be in writing and shall be served upon such other party and such other
party's copied persons as specified below by personal delivery to the address
set forth for it below or to such other address as such party shall have
specified by notice to each other party or by mailing a copy thereof by
certified or registered mail, or by Federal Express or any other reputable
overnight courier service, postage prepaid, with return receipt requested,
addressed to such party and copied persons at such addresses. In the case of
service by personal delivery, it shall be deemed complete on the first business
day after the date of actual delivery to such address. In case of service by
mail or by overnight courier, it shall be deemed complete, whether or not
received, on the third day after the date of mailing as shown by the registered
or certified mail receipt or courier service receipt. Notwithstanding the
foregoing, notice to any party or copied Person of change of address shall be
deemed complete only upon actual receipt by an officer or agent of such party or
copied person.

     If to the Company, to it at:

          Michael Foods, Inc.
          301 Carlson Parkway, Suite 400
          Minnetonka, MN 55305
          Attn: Mr. Gregg Ostrander
          Telecopier:________________

                                        6

<PAGE>

     If to Sponsor, to it at:

          THL Managers V, LLC
          c/o Thomas H. Lee Partners, L.P.
          75 State Street
          Boston, MA 02109

          Attention: Mr. Anthony J. DiNovi
                     Mr. Kent Weldon
                     Mr. Todd Abbrecht
          Telecopier: (617) 227-3514

     with a copy to:

          Weil, Gotshal & Manges LLP
          100 Federal Street
          Boston, Massachusetts 02110
          Attention: James Westra, Esq.
          Telecopier: (617) 772-8333

     11.  Severability. If in any judicial or arbitral proceedings a court or
arbitrator shall refuse to enforce any provision of this Agreement, then such
unenforceable provision shall be deemed eliminated from this Agreement for the
purpose of such proceedings to the extent necessary to permit the remaining
provisions to be enforced. To the full extent, however, that the provisions of
any applicable law may be waived, they are hereby waived to the end that this
Agreement be, deemed to be a valid and binding agreement enforceable in
accordance with its terms, and in the event that any provision hereof shall be
found to be invalid or unenforceable, such provision shall be construed by
limiting it so as to be valid and enforceable to the maximum extent consistent
with and possible under applicable law.

     12.  Counterparts. This Agreement may be executed in any number of
counterparts and by each of the parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original and all of which
together shall constitute one and the same agreement.

     13.  Headings. All descriptive headings in this Agreement are inserted for
convenience only and shall be disregarded in construing or applying any
provision of this Agreement.

     14.  Prevailing Party. If any legal action or other proceedings is brought
for a breach of this Agreement or any of the warranties herein, the prevailing
party shall be entitled to recover its reasonable attorneys' fees and other
costs incurred in bringing such action or proceeding, in addition to any other
relief to which such party may be entitled.

                                    * * * * *

                                        7

<PAGE>

                                                                   Exhibit 10.19

     IN WITNESS WHEREOF, each of the parties has caused this Agreement to be
executed on its behalf as an instrument under seal as of the date first above
written by its officer or representative thereunto duly authorized.

                                        MICHAEL FOODS, INC.

                                        By:  /s/ Gregg A. Ostrander
                                           -------------------------------------
                                           Name:
                                           Title:

                                        THL MANAGERS V, LLC

                                        By:  Thomas H. Lee Partners, L.P., its
                                              Managing Member

                                        By:  THL Equity Advisors V, L.P., its
                                              General Partner

                                        By:  /s/ Anthony J. DiNovi
                                           -------------------------------------
                                           Name:  Anthony J. DiNovi
                                           Title: Managing Director

                                        8

<PAGE>

                                                                       Exhibit A
                                                                       ---------

                                Wire Instructions
                                -----------------

THL Managers V, LLC
-------------------

FleetBoston
100 Federal Street
Boston, MA
ABA #011000138
Account Name: THL Managers V, LLC
Account #270-07242

                                        9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00064-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00064-of-00352.parquet"}]]