Document:

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                                                                   EXHIBIT 10.60

                                PLEDGE AGREEMENT

         THIS PLEDGE AGREEMENT made this 27th day of February, 2003, by and
between SYNDICATED FOOD SERVICE INTERNATIONAL, INC., a Florida corporation
(hereinafter referred to as "Pledger"), and OLD NATIONAL BANK, a national
banking association, having offices at 121 East Kirkwood Avenue, Bloomington,
Indiana 47408 (hereinafter referred to as "Bank").

                                   WTTNESSETH:

         WHEREAS Bank has or intends to extend certain credit facilities to
Beasley Food Service, Inc. ("Beasley") in accordance with the terms of that
certain Credit Agreement as of even date herewith, together with such other
credit and collateral documents as may be required by the Bank; and

         WHEREAS, the Bank has or intends to extend certain credit facilities to
Syndicated Bloomington I, LLC as evidenced by or contemplated by that certain
Mortgage Loan Note dated as of even date herewith (Beasley and Syndicated
collectively referred to as "Borrower") and the credit and collateral documents
evidencing the credit facilities extended by the Bank to the Borrower
collectively referred to as the "Loan Documents"); and

         WHEREAS, the Pledgor will benefit from the credit facilities to be
extended to the Borrowers as contemplated by the Loan Documents and other
financial accommodations from the Bank and desires to provide the pledge
contemplated by this Agreement as further consideration and inducement to the
Bank to provide the credit facilities contemplated by the Loan Documents and to
collateralize Pledgor's obligations under those certain Unconditional Unlimited
Continuing Guaranties, each dated as of the date hereof executed by Pledgor for
the benefit of Bank (hereinafter collectively referred to as "Guaranty"); and

         WHEREAS, it is a condition precedent to the obligations of the Bank
under the Loan Documents that the Pledgor shall execute and deliver this Pledge
Agreement and to perform hereunder.

         NOW, THEREFORE, in consideration of the foregoing, the Pledgor hereby
agrees with the Bank as follows:

         1.       Definitions. All terms used in this Agreement which are not
defined herein, but are defined in the Loan Documents shall have the respective
meanings ascribed to them therein. The term "Pledged Collateral" as used herein
shall mean and include all of the issued and outstanding shares of the capital
stock or other securities owned by Pledgor or voting trust certificates or other
documents of any kind evidencing any and all ownership or other interests of
Pledgor in such securities or any certificates of membership interests,
deposits, instruments, or securities of any other entities, as listed on
Schedule I annexed hereto (and any supplemental schedules attached hereto or
delivered to the Bank from time to time), and any other stock, certificates or
securities that have been delivered or are delivered in the future to the Bank
by or on behalf of Pledgor and any and all proceeds thereof, now or hereafter
owned or acquired by the Pledgor.

         2.       Pledge Rights and Remedies.

         (a)      As collateral security for the due payment and performance of
all indebtedness and other liabilities and obligations, whether now existing or
hereafter arising, of Pledgor to the Bank arising under the Guaranty, and all
instruments, agreements and documents executed, issued, and delivered pursuant
thereto, including, without limitation, this Agreement (all hereinafter
collectively referred to as

<PAGE>

"Obligations"), the Pledgor hereby pledges, assigns, hypothecates, delivers, and
sets over to the Bank all of its right, title and interest in and to the Pledged
Collateral, and hereby grants to the Bank a security interest in all of
Pledgor's right, title and interest in and to the Pledged Collateral and in the
proceeds thereof.

         (b)      If the Pledgor shall become entitled to receive or shall
receive any stock or voting trust certificate (including, without limitation,
any certificate representing a stock dividend or a distribution in connection
with any reclassification, increase, or reduction of capital), option or rights,
whether as an addition to, in substitution of, or in exchange for any Pledged
Collateral, or otherwise, the Pledgor shall accept any such instruments as the
Bank's agent, shall hold them in trust for the Bank, and shall deliver them
forthwith to the Bank in the exact form received, with the Pledgor's endorsement
when necessary, and/or appropriate stock powers duly executed in blank, to be
held by the Bank, subject to the terms hereof, as further collateral security
for the Obligations.

         (c)      After the occurrence of any Event of Default defined or
specified in the Loan Documents, any or all shares of the Pledged Collateral
held by the Bank hereunder may, at the option of the Bank, be registered in the
name of the Bank or its nominee as pledgee, and the Bank or its nominee may
thereafter, without notice, exercise all available voting and corporate rights
at any meeting of any corporation issuing any of the shares or other securities
included in the Pledged Collateral and exercise any and all rights of
conversion, exchange, subscription, or any other rights, privileges, or options
pertaining to any of the Pledged Collateral as if it were the absolute owner
thereof, including, without limitation, the right to receive dividends payable
thereon and the right to exchange, at its discretion, any and all of the Pledged
Collateral upon the merger, consolidation, reorganization, recapitalization, or
other readjustment of any corporation issuing any of such securities or upon the
exercise by any such issuer of any right, privilege, or option pertaining to any
of the Pledged Collateral, and in connection therewith, to deposit and deliver
any and all of the Pledged Collateral with any committee, depository, transfer
agent, registrar or other designated agency upon such terms and conditions as it
may determine, all without liability except to account for property actually
received by it, but the Bank shall have no duty to exercise any of the aforesaid
rights, privileges, or options and shall not be responsible for any failure or
omission to do so or delay in so doing.

         (d)      In the event of the occurrence of any Event of Default defined
or specified in the Loan Documents, the Bank shall have the right to require
that all cash dividends and distributions payable with respect to any part of
the Pledged Collateral be paid to the Bank to be held by the Bank as additional
security hereunder until applied to the Obligations.

         (e)      In the event of the occurrence of any Event of Default defined
or specified in the Loan Documents, the Bank, without demand of performance or
other demand, advertisement, or notice of any kind (except the notice specified
below of the time and place of public or private sale) to or upon the Pledgor or
any other person or entity, including without limitation, any trustee(all and
each of which demands, advertisements and/or notices are, to the extent
permitted by law, hereby expressly waived), may forthwith collect, receive,
appropriate, and realize upon the Pledged Collateral, or any part thereof,
and/or may forthwith sell, assign, give an option or options to purchase,
contract to sell, or otherwise dispose of and deliver the Pledged Collateral, or
any part thereof, in one or more parcels at public or private sale or sales, in
whatever order the Bank may select, at any exchange, broker's board or at any of
the Bank's offices or elsewhere at such prices and on such terms (including,
without limitation, a requirement that any purchaser of all or any part of the
Pledged Collateral shall be required to purchase the securities constituting the
Pledged Collateral for investment and without any intention to make a
distribution thereof) as it may deem best, for cash or on credit or for future
delivery without assumption

                                      -2-
<PAGE>

of any credit risk, with the right to the Bank or any purchaser upon any such
sale or sales, whether public or private, to purchase the whole or any part of
the Pledged Collateral so sold, free of any right or equity of redemption in
the Pledgor, which right or equity is hereby expressly waived and released.

         (f)      The proceeds of any collection, recovery, receipt,
appropriation, realization, sale or other disposition, shall be applied as
follows:

                  First, to the reasonable costs and expenses of every kind
         incurred in connection therewith or incidental to the care,
         safekeeping, or otherwise of any and all of the Pledged Collateral or
         in any way relating to the rights of the Bank hereunder, including
         reasonable attorneys' fees and legal expenses;

                  Second, to the satisfaction of the Obligations in such order
         as the Bank may determine in its sole discretion;

                  Third, to the payment of any other amounts required by
         applicable law; and

         Fourth, to the Pledgor, to the extent of the surplus proceeds, if any.

         (g)      The Bank need not give more than five (5) Business Days'
notice of the time and place of any public sale or of the time after which a
private sale may take place and such notice shall be deemed to be reasonable
notification of such matters.

         (h)      In the event that the proceeds of any collection, recovery,
receipt, appropriation, realization, sale or other disposition are insufficient
to pay all amounts to which the Bank is legally entitled, the Pledgor will be
liable, jointly and severally with all guarantors or parties obligated to the
Bank under the documents evidencing the obligations for any deficiency together
with interest thereon at the rate prescribed in the Loan Documents and the
reasonable fees of any attorneys employed by the Bank to collect such
deficiency.

         3.       Rights of Pledgor. Unless and until an Event of Default as
defined in the Loan Documents shall have occurred and be continuing, the Pledgor
shall be entitled:

         a.       to vote all or any part of the Pledged Collateral at any and
all shareholder meetings of the issuer thereof and to execute consents in
respect thereof, and to consent to, ratify, or waive notice of any or all
shareholder meetings of the issuer thereof with the same force and effect as if
this Pledge Agreement had not been made and, if necessary and upon the receipt
of the written request from the issuer thereof and/or the Pledgor, the Bank
shall from time to time execute and deliver appropriate proxies for that
purpose, provided that the Pledgor covenants and agrees not to vote the Pledged
Collateral in a manner which would create an Event of Default or Unmatured Event
of Default under any of the Loan Documents, and

         b.       to receive and collect or to have paid over all dividends
declared or paid on the Pledged Collateral, except (i) dividends or
distributions constituting stock dividends, (ii) dividends or distributions in
kind, or (iii) liquidating dividends (either partial or complete), provided that
any and all such excepted dividends and distributions shall constitute
additional collateral for the purposes of this Pledge Agreement and shall be
delivered and pledged with the Bank in accordance with Section 2(b) hereof.

         4.       Representations. The Pledgor represents and warrants that:

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         (a)      Pledgor is, as of the date hereof, the legal and beneficial
owner of all of the Pledged Collateral;

         (b)      All of the shares and interests evidenced by the Pledged
Collateral have been duly and validly issued, are fully paid and non-assessable,
and are owned by the Pledgor free and clear of any pledge, mortgage,
hypothecation, lien, charge, encumbrance, or any security interest in such
shares or the proceeds thereof except for the security interest granted to the
Bank hereunder; and

         (c)      Upon delivery of the Pledged Collateral to the Bank or an
agent for the Bank, this Agreement creates and grants a valid first lien on and
perfected security interest in the Pledged Collateral and the proceeds thereof,
subject to no prior security interest, lien, charge, or encumbrance and subject
to no other security interest, lien, charge, or encumbrance or to any agreement
purporting to grant to any third party a security interest in the property or
assets of the Pledgor which would include the Pledged Collateral.

         (d)      No authorization, approval or other action by, and no notice
to or filing with, any governmental authority or regulatory body is required to
be obtained or made by Pledgor either (i) for the pledge by the Pledgor of the
Pledged Collateral pursuant to this Agreement or for the execution, delivery or
performance of this Agreement by the Pledgor, or (ii) for the exercise by the
Pledgee of the voting or other rights provided for in this Agreement or the
remedies in respect of the Pledged Collateral pursuant to this Agreement,
subject to applicable state and securities laws.

         (e)      There are no restrictions on the transfer of the Pledged
Collateral except such, if any, as appear on the face or back of the
certificates or other evidence of the Pledged Collateral or are imposed by
operation of law, and there are no options, warrants or rights pertaining
thereto. The Pledgor has the right to transfer the Pledged Collateral free of
any encumbrances and without the consent of the creditors of the Pledgor, any
persons, or any governmental agency whatsoever.

         (f)      Neither the execution or delivery of this Agreement, nor the
consummation of the transactions contemplated hereby, nor the compliance with or
performance of the terms and conditions of this Agreement by the Pledgor is
prevented by, limited by, conflicts with or will result in the breach or
violation of or a default under the terms, conditions or provisions of (i) any
mortgage, security agreement, indenture, evidence of indebtedness, loan or
financing agreement, trust agreement, stockholder agreement, or other agreement
or instrument to which the Pledgor is a party or by which it is bound or (ii)
any provision of law, any order of any court or administrative agency or any
rule or regulation applicable to the Pledgor, subject to applicable state and
federal securities laws.

         (g)      Any assignee of all or any portion of the Pledged Collateral
is entitled to receive payments with respect thereto without any defense,
counterclaim, set-off, abatement, reduction, recoupment or other claim arising
out of the actions of the Pledgor.

         (h)      There are no actions, suits or proceedings (whether or not
purportedly on behalf of the Pledgor) pending or, to the best knowledge of the
Pledgor, threatened affecting the Pledgor that involve the Pledged Collateral.

         (i)      All consents or approvals, if any, required as a condition
precedent to or in connection with the due and valid execution, delivery and
performance by the Pledgor of this Agreement have been obtained, subject to
applicable state and federal securities laws.

                                      -4-
<PAGE>

         5.       Covenants.

         (a)      The Pledgor hereby covenants that so long as the Obligations
shall be outstanding and unpaid, in whole or in part, the Pledgor will not
without the prior written consent of the Bank sell, convey,- or otherwise
dispose of any shares of the Pledged Collateral or any interest therein, nor
will the Pledgor create, incur, or permit to exist any pledge, mortgage, lien,
charge, encumbrance, or any security interest whatsoever with respect to any of
the Pledged Collateral or the proceeds thereof other than that created or
permitted by the Loan Documents or hereby.

         (b)      The Pledgor warrants and will defend the Bank's right, title,
special property and security interest in and to the Pledged Collateral against
the claims of any person, firm, corporation, or other entity.

         6.       Sale of Pledged Collateral.

         (a)      If the Bank shall determine to exercise its right to sell any
part of the Pledged Collateral, and if in the opinion of counsel for the Bank it
is necessary to have the Pledged Collateral, or that portion thereof to be sold,
registered under the provisions of the Securities Act of 1933, as amended (the
"Securities Act"), the Pledgor will use his best efforts to cause each issuer of
shares included in the Pledged Collateral contemplated to be sold to execute and
deliver, and cause the directors and officers of each issuer to execute and
deliver, all at the Pledgor's expense, all such instruments and documents, and
to do or cause to be done all such other acts and things as may be necessary to
register the Pledged Collateral, or that portion thereof to be sold, under the
provisions of the Securities Act and to cause the registration statement
relating thereto to become effective and to remain effective for a period of one
year from the date of the first public offering of the Pledged Collateral, or
that portion thereof so to be sold, and to make all amendments thereto and/or to
the related prospectus which, in the opinion of the Bank or its counsel, are
necessary or advisable, all in conformity with the requirements of the
Securities Act and the rules and regulations of the Securities and Exchange
Commission applicable thereto; to cause each such issuer to comply with the
provisions of the securities laws and regulations of any jurisdiction which the
Bank shall designate; and to cause each such issuer to make available to its
security holders, as soon as practicable, an earnings statement (which need not
be audited) covering a period of twelve months, but not more than eighteen
months, beginning with the first month after the effective date of any such
registration statement, which earnings statement will satisfy the provisions of
Section 11(a) of the Securities Act.

         (b)      The Pledgor acknowledges that a breach of any of the covenants
contained in subparagraph 6(a) above will cause irreparable injury to the Bank,
that the Bank shall have no adequate remedy at law in respect of such breach
and, as a consequence, the covenants of the Pledgor contained in the said
subparagraph 6(a) shall be specifically enforceable against the Pledgor, and the
Pledgor hereby waives, and shall not assert, any defenses against an action for
specific performance of such covenants, except for a defense that no Event of
Default defined or specified in the Loan Documents has occurred.

         (c)      Notwithstanding the foregoing, the Pledgor recognizes that the
Bank may be unable to effect a public sale of all or a part of the Pledged
Collateral, and may be compelled to resort to one or more private sales to a
restricted group of purchasers who will be obligated to agree, among other
things, to acquire such securities for their own account, for investment and not
with a view to the distribution or resale thereof. The Pledgor acknowledges that
any such private sales may be at places and on terms less favorable to the
seller than if sold at public sales and agrees that such private sales shall be
deemed to have been made in a commercially reasonable manner, and that the Bank
has no obligation to delay sale

                                      -5-
<PAGE>

of any such securities for the period of time necessary to permit the issuer of
such securities to register such securities for public sale under the Securities
Act.

         7.       Cooperation. The Pledgor shall at any time and from time to
time, upon the request of the Bank, execute and deliver such further documents
and do such further acts and things as the Bank may reasonably request in order
to effect the purposes of this Agreement, including, without limitation,
delivering to the Bank on the date hereof or at any time hereafter irrevocable
proxies in respect of the Pledged Collateral in the form of Exhibit A annexed
hereto.

         8.       General.

         (a)      Beyond the exercise of reasonable care to assure the safe
custody of the Pledged Collateral while held hereunder, the Bank shall have no
duty or liability to preserve rights pertaining thereto and shall be relieved of
all responsibility for the Pledged Collateral upon surrendering it to the
Pledgor.

         (b)      No course of dealing between the Pledger and the Bank, nor any
failure to exercise, nor any delay in exercising, on the part of the Bank, any
right, power, or privilege, whether now existing or hereafter arising hereunder
or under the Loan Documents, shall operate as a waiver thereof; nor shall any
single or partial exercise of any right, power, or privilege hereunder or
thereunder preclude any other or further exercise thereof or the exercise of any
other right, power, or privilege.

         (c)      The rights and remedies herein provided, and provided in the
Guaranties and the Loan Documents, are cumulative and are in addition to, and
not exclusive of, any rights or remedies provided by law, including, without
limitation, the rights and remedies of a secured party under the Uniform
Commercial Code.

         (d)      The provisions of this Agreement are severable, and if any
clause or provision shall be held invalid or unenforceable in whole or in part
in any jurisdiction, then such invalidity or unenforceability shall affect only
such clause or provision, or part thereof, in such jurisdiction, and shall not
in any manner affect such clause or provision in any other jurisdiction, or any
other clause or provision in this Agreement in any jurisdiction.

         (e)      This Agreement shall inure to the benefit of, and be binding
upon, the successors and assigns of the parties hereto. Notwithstanding the
foregoing, the Pledgor shall not have the right to assign or delegate any of its
rights or obligations hereunder without the prior written consent of the Bank,
and any purported assignment or delegation in the absence of such consent shall
be void.

         (f)      This Agreement has been executed and delivered in the State of
Indiana. This Agreement shall be governed by and construed in accordance with
the laws of the State of Indiana.

         (g)      The Pledgor recognizes that the Bank has relied on the pledge
and security interest granted herein by the Pledgor in extending credit and
making the financial accommodations to the Borrowers, and the Pledgor agrees
that such reliance by Bank shall be sufficient consideration for this pledge.

         (h)      This Agreement may be signed in any number of counterparts
with the same effect as if the signatures thereto and hereto were upon the same
instrument.

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<PAGE>

         (i)      The Section headings used herein are for convenience only and
shall not be read or construed as limiting the substance or generality of this
Agreement.

         IN WITNESS WHEREOF, the parties have caused this Pledge Agreement to be
duly executed and delivered as of the day and year first written above.

SYNDICATED FOOD SERVICE                            OLD NATIONAL BANK
INTERNATIONAL, INC.                                       "Bank
       "Pledgor"

By: /s/ Thomas P. Tanis                    By /s/ Jovita S. VanDerSnick
    -------------------------------           ----------------------------------
    Thomas P. Tanis, Jr.,                     Jovita S. VanDerSnick,
    Chief Executive Officer                   Vice President

                                      -7-
<PAGE>

                                    Schedule I to Pledge Agreement dated
                                    February 27, 2003 from Syndicated Food
                                    Service International, Inc. to Old National
                                    Bank

                           LIST OF PLEDGED COLLATERAL

<TABLE>
<CAPTION>
                                                     Number/Class
                                                          Of
          Name of Issuer                             Shares/Units
          --------------                             ------------
<S>                                <C>               <C>
Beasley Food Service, Inc.                               1,000

Beasley Transportation, Inc.                             1,000

Syndicated Bloomington I LLC       Uncertificated          100%
</TABLE>

                                      -8-
<PAGE>

                                    EXHIBIT A

                               IRREVOCABLE PROXY

         The undersigned does hereby make, constitute and appoint OLD NATIONAL
BANK (the "Bank") and each of the Bank's officers and employees, its true and
lawful attorneys, for it and in its name, place and stead, to act as its proxy
in respect of all of the [SHARES OF CAPITAL STOCK] [MEMBERSHIP INTERESTS]
of_____________________________, a Delaware [COMPANY] [LIMITED LIABILITY
COMPANY] (hereinafter referred to as the "Company"), which the undersigned now
or hereafter may own or hold, including, without limitation, the right, on
behalf of the undersigned, to vote for the transaction of any and all business
that may come before such meeting, or at any adjournment thereof, including,
without limitation, the right to vote for (i) the consolidation merger or other
consolidation with or into the Company, (ii) the sale of all or any part of the
assets of the Company and/or (iii) the liquidation and dissolution of the
Company; giving and granting to its said attorneys full power and authority to
do and perform each and every act and thing whether necessary or desirable to be
done in and about the premises, as fully as the undersigned might or could do if
personally present with full power of substitution, appointment and revocation,
hereby ratifying and confirming all that the undersigned's said attorneys shall
do or cause to be done by virtue hereof.

         This Proxy is given to the Bank and to its officers and employees in
consideration of one or more loans of even date herewith by the Bank to Beasley
Food Service, Inc. and Syndicated Bloomington I LLC (the "Borrower"), and in
order to carry out the covenant of the undersigned contained in a certain Pledge
Agreement of even date herewith with the Bank. This Proxy is coupled with an
interest, shall not be revocable or revoked by the undersigned, shall be binding
upon successors and assigns of the undersigned until the payment in full of all
of the indebtedness, obligations or liabilities to the Bank of the undersigned,
and may be exercised only after a default in payment of principal or interest
when due of any such indebtedness or the occurrence of any other Event of
Default as defined or specified in the Loan Documents referred to in the Pledge
Agreement.

         IN WITNESS WHEREOF, the undersigned has executed this Irrevocable Proxy
this __day of February, 2003.

                                           _____________________________________
                                           [Name]

                                      -9-<PAGE>

                                                                   EXHIBIT 10.61

                             SUBORDINATION AGREEMENT

                                                         Dated February 27, 2003

         OLD NATIONAL BANK, a national banking association ("Lender"), and
CHARLES BEASLEY AND MARJORIE A. BEASLEY (collectively, "Junior Creditor"), each
of which are creditors of SYNDICATED FOOD SERVICE INTERNATIONAL, INC.
("Company"), agree to the following:

         1.       Company is indebted to Junior Creditor in the principal amount
of $1,266,420.00, together with accrued interest under a Promissory Note dated
December 31, 2001 and may be indebted to Junior Creditor for other and further
loans and advances in the future (all of which are referred to as the "Junior
Indebtedness"). Nothing in this Agreement is intended to permit nor does it
permit or allow any further loans or advances by Junior Creditor to Company or
Borrower (as hereinafter defined) without the prior written consent of Lender.
In addition, nothing in this Agreement is intended to permit nor does it permit
or allow any further grant of security in favor of Junior Creditor without the
prior written consent of Lender.

         2.       Junior Creditor represents that the Junior Indebtedness has
not been previously assigned to or subordinated in favor of any other person or
entity, and that Company has made all interest and principal payments, except as
described in the disclosure letter dated as of the date hereof, due to date.

         3.       Junior Creditor is entering into this Agreement;

         (a)      to induce Lender to enter into (i) a Credit Agreement dated as
of even date and any other related agreements with BEASLEY FOOD SERVICE, INC.
("BFS") and (ii) a Mortgage Loan Note as of even date with and any other related
agreements WITH SYNDICATED BLOOMINGTON I LLC ("SB") (BFS and SB collectively,
"Borrower"), which financial accommodations are or are to be unconditionally
guaranteed by Company (the credit and collateral documents evidencing Borrower's
and Company's obligations and indebtedness to Lender collectively referred to as
"Credit Agreements"); and

         (b)      in consideration of loans, advances, payments, extensions of
credit (including the extension or renewal, in whole or in part, of any debt),
benefits or financial accommodations previously made to Company and Borrower or
which may be made to Company and Borrower; and/or

         (c)      in consideration of any of Company's and Borrower's
obligations to Lender, now existing or arising in the future.

         4.       The Junior Indebtedness is hereby subordinated to the extent
provided in this Agreement to any present or future indebtedness, obligations or
liabilities of Borrower and Company (and, in addition, of Borrower and/or
Company as a Debtor-in-Possession under any bankruptcy act or code, state or
federal law, common law or equitable doctrine and of any trustee, receiver or
other party appointed for Company under any such laws, doctrine or proceedings)
to Lender, including interest accrued or to be accrued, absolute or contingent

<PAGE>

obligations and obligations acquired by purchase or otherwise as well as all
reasonable collection costs and attorneys fees incurred by Lender in enforcing
its rights against Company and Borrower to the extent such indebtedness and
obligations do not, in the aggregate exceed Four Million and No/100 Dollars
($4,000,000.00) (collectively, "Obligations").

         5.       Except for the security interest granted by Beasley
Transportation, Inc. to Junior Creditor described in Schedule I attached hereto
and incorporated herein which Lender expressly agrees is senior to any rights
Lender may assert in and to the collateral described in Schedule I, Junior
Creditor hereby expressly and unconditionally subordinates to Lender any and all
right, title, liens, security interests and mortgages which Junior Creditor may
presently have or which it may hereafter acquire from Borrower and Company in
property of the Borrower and Company, respectively, whether now owned or
hereafter created or acquired and wherever located. Any rights or claims of
Junior Creditor to reasonable and customary compensation for services rendered
pursuant to an Employment Agreement with Borrower or the Company are not subject
to or covered by this Subordination Agreement. Junior Creditor agrees that all
liens, security interests and mortgages granted by Borrower or Company in favor
of any Junior Creditor in property of the Borrower and the Company are and shall
be junior in right of priority to and subordinate to any and all liens, security
interests and mortgages Lender, its successors or assigns have or may have in
the same property. The priorities provided for in this Agreement shall apply:

         (a)      without regard to the time or order of attachment, perfection,
filing or recording of the mortgages, security interests and other liens to
secure the obligations of the Borrower and the Company, or the failure to give
notice of the acquisition or expected acquisition of any such mortgage, security
interest or lien;

         (b)      notwithstanding anything to the contrary in the provisions of
the United States Bankruptcy Code or the Uniform Commercial Code in any relevant
state of the United States or the laws of the State of Indiana or any other
relevant state, which relate to the priority of liens, security interests or
mortgages;

         (c)      with respect to all obligations of the Borrower and the
Company to Junior Creditor, and of the Borrower and the Company to the Lender,
whenever made, created or acquired; and

         (d)      notwithstanding the lapse of perfection of Lender's liens or
security interests or Lender's failure to perfect its liens or security
interests.

Junior Creditor also agrees to execute any other documents or financing
statements reasonably required by Lender to effectuate the terms and provisions
of this Agreement.

         6.       Unless (a) Borrower defaults under the Credit Agreements, (b)
Company defaults in its guaranty or other obligations to Lender, or (c) unless
an event occurs which, with the passage of time or with notice, would become an
event of default under the Credit Agreements and Lender gives notice of the same
to Junior Creditor, Junior Creditor may receive payments from Company on account
of the Junior Indebtedness. However, upon receipt of such notice of

                                       -2-

<PAGE>

default, Junior Creditor agrees, for a period of One Hundred Eighty (180) days
following Junior Creditor's receipt of such notice of default from Lender
("Standstill Period"), not to ask for, demand, sue for, take or receive payment,
whether by setoff or otherwise, on account of the Junior Indebtedness or take or
receive security for any part of the Indebtedness, unless (i) prior to the
expiration of such Standstill Period all Obligations to Lender have been fully
paid to Lender; (ii) Lender provides written notice to Junior Creditor that all
events of default under the Credit Agreements have been cured; or (iii) Lender
waives its rights in writing under this Subordination Agreement. Any payments
received by Junior Creditor on account of the Junior Indebtedness after
receiving such notice from Lender will be held by Junior Creditor in trust for
Lender and will be immediately turned over to Lender to be credited against the
Obligations. Any payments received associated with the Junior Indebtedness prior
to receipt of notice of default from Lender may be retained by Junior Creditor
and applied to the Junior Indebtedness.

         7.       At all times Obligations are owing to Lender, Junior Creditor
agrees that it will not accept prepayments of the Junior Indebtedness or any
payments on the Junior Indebtedness other than payments in accordance with the
original terms of the Junior Indebtedness, without acceleration.

         8.       If Company defaults on the Junior Indebtedness, the Junior
Creditor shall give Lender written notice of the default. Junior Creditor shall
have no right to foreclose or otherwise realize on any security or collect the
Junior Indebtedness except pursuant to the terms and limitations contained in
Section 6 hereof.

         9.       Upon any distribution of any of Company's assets, whether by
reason of sale, reorganization, liquidation, dissolution, arrangement,
bankruptcy, receivership, assignment for the benefit of creditors, foreclosure
or otherwise, Lender shall be entitled to receive payment in full of the
Obligations prior to the payment of all or any part of the Junior Indebtedness,
except that Junior Creditor may realize upon the collateral pledged by Beasley
Transportation, Inc. to Junior Creditor which secures repayment of the Junior
Indebtedness, subject to the provisions and limitations as set forth in Section
6 hereof. To enable Lender to assert and enforce its rights under this Agreement
or upon any default under the Credit Agreements, Lender or any person Lender may
designate by written notice to Junior Creditor is appointed agent and
attorney-in-fact for Junior Creditor. This appointment is coupled with an
interest and is irrevocable so long as any Obligations remain unpaid. Lender or
any person it may designate by written notice to Junior Creditor will have full
power to act in the place of Junior Creditor, including the right to make,
present, file and vote proofs of claim(s) against Borrower and/or Company on
account of any part of the Junior Indebtedness as Lender may deem advisable and
to receive and collect any and all dividends or other payments made on the
Junior Indebtedness, and to apply such funds to the balance due on the
Obligations.

         10.      While this Agreement remains in effect, Junior Creditor will
not, without Lender's prior written consent, (a) assign or subordinate in favor
of any other person or entity, any part of the Junior Indebtedness or any right,
claim or interest in the Junior Indebtedness, or (b) commence or join with any
other creditor in commencing any bankruptcy, reorganization or insolvency
proceeding against Company in violation of the restrictions contained in Section
6 hereof.

                                       -3-

<PAGE>

         11.      Lender may at any time, in its sole discretion, renew or
extend the time of payment of any part of the Obligations, waive or release any
collateral that may be held as security, and enter into any agreements with
Borrower and Company which Lender may deem desirable, without notice to or
further assent from Junior Creditor and without in any way affecting Lender's
rights under this Agreement, except that Junior Creditor shall be entitled to
receive written notice of any default that Lender has declared against Borrower.

         12.      Junior Creditor will type, write or otherwise conspicuously
imprint on each note, document or other instrument evidencing or related to the
Junior Indebtedness the following legend:

                  RIGHTS OF THE HOLDER UNDER THIS NOTE ARE SUBJECT AND
                  SUBORDINATE TO THE PRIOR PAYMENT OF THE OBLIGATIONS OF THE
                  MAKER TO OLD NATIONAL BANK PURSUANT TO THE TERMS OF A
                  SUBORDINATION AGREEMENT AS OF FEBRUARY 27,2003.

         13.      This Agreement shall remain in effect and shall be a
continuing subordination until all the Obligations (as defined and limited by
the definition of Obligations contained herein) to Lender from Borrower and
Company are paid in full.

         14.      Junior Creditor agrees that if at any time Borrower's or
Company's payment or payments to Lender or any part thereof are subsequently
invalidated, declared to be fraudulent or preferential, set aside, rescinded
and/or required to be repaid by Lender to a trustee, receiver or any other party
under any bankruptcy act or code, state or federal law, common law or equitable
doctrine, then to the extent of any sum not finally retained by Lender, the
Junior Creditor's obligations to Lender shall be reinstated and this Agreement
shall remain in full force and effect (or be reinstated) until full and final
payment shall have been made to Lender. If any action or proceeding seeking such
repayment is pending or, in Lender's judgment, threatened, this Agreement shall
remain in full force and effect notwithstanding that Borrower and Company may
not then be obligated to Lender. Junior Creditor agrees to hold in trust for
Lender and promptly remit to Lender any payments received by Junior Creditor
after such invalidated, rescinded or returned payments, above-described, were
originally made.

         15.      Junior Creditor, on its own behalf and on behalf of its
successors and permitted assigns, hereby expressly waives all rights, if any, to
require a marshalling of assets by Lender or to require that Lender first resort
to some or any portion of any collateral securing Borrower's and Company's
obligations to Lender before foreclosing upon, selling or otherwise realizing on
any other portion thereof.

         16.      This Agreement shall inure to the benefit of Lender, its
parent, subsidiary or affiliated corporation(s), and any of Lender's successors
and assigns, and shall be binding on Junior Creditor, and Junior Creditor's
heirs, executors, administrators, personal representatives, successors and
assigns.

                                       -4-

<PAGE>

         17.      In the event that there is an express conflict between the
terms and provisions of the Credit Agreements and of this Agreement, the terms
and conditions of this Agreement shall govern and control. In the event that
there is an express conflict between the terms and provisions of the agreements
between Junior Creditor and Company relating to the Junior Indebtedness and of
this Agreement, the terms and conditions of this Agreement shall govern and
control.

         18.      All notices, demands, or requests, and responses thereto,
required or permitted to be given pursuant to this Agreement shall be in writing
and shall be deemed to have been properly given or served and shall be effective
upon being deposited in the United States Mail, postpaid and registered or
certified with return receipt requested; provided, however, the time period in
which a response to any notice, demand, or request must be given shall commence
on the date of the receipt of the return receipt of the notice, demand, or
request by the addressee thereof. Rejection or other refusal to accept or
inability to deliver because of changed address of which no notice has been
given shall constitute receipt of the notice, demand, or request sent. Any such
notice shall be addressed as set forth next to the party's signature below or
at such address in the United States as a party may by notice in writing
designate for notice.

         19.      Except where the context otherwise requires, each term stated
in either the singular or plural shall include the singular and the plural, and
pronouns stated in the masculine, feminine or neuter gender shall include the
masculine, feminine and neuter.

         20.      This Agreement constitutes the entire understanding of Junior
Creditor and Lender regarding the subject matter provided for in this Agreement.
This Agreement may only be modified, amended or supplemented by a writing signed
by both Junior Creditor and Lender.

         21.      This Agreement shall be governed by and construed according to
the internal laws of the State of Indiana.

[REMAINDER OF THIS PAGE INTENTIONALLY BLANK - SIGNATURE PAGES FOLLOW]

                                       -5-

<PAGE>

                          SIGNATURE OF JUNIOR CREDITOR

/s/ Charles A. Beasley
----------------------------
Charles A. Beasley

/s/ Marjorie A. Beasley
----------------------------
Marjorie A. Beasley

Address: 5600 Nathan Way
         Bloomington, Indiana 47408

STATE OF INDIANA               )
                               ) SS:
COUNTY OF Monroe               )

         Before me the undersigned, a Notary Public in and for Monroe
County, State of Indiana, personally appeared Charles A. Beasley and Marjorie A.
Beasley and acknowledged the execution of the foregoing Subordination Agreement
this 26th day of February, 2003.

                                                     /s/ Connie L. Sowders
                                            ----------------------------------
                                                      Notary Public

                                                    Connie L. Sowders
                                            ----------------------------------
                                                         Printed
My Commission Expires:

     3-13-07

My County of Residence:

     Monroe

                                       -6-

<PAGE>

                               SIGNATURE OF LENDER

OLD NATIONAL BANK

By: /s/ Jovita S. VanDerSnick
    ---------------------------------------------
    Jovita S. VanDerSnick, Vice President

Address: 121 East Kirkwood Avenue
         Bloomington, Indiana 47404

STATE OF INDIANA         )
                         )SS:
COUNTY OF MARION         )

         Before me the undersigned, a Notary Public in and for Hamilton
County, State of Indiana, personally appeared Jovita S. VanDerSnick, the Vice
President of Old National Bank, a national banking association and acknowledged
the execution of the foregoing Subordination Agreement on behalf of such entity
this 27th day of February, 2003.

                                                     /s/ Bradley S. Fuson
                                            -----------------------------------
                                                      Notary Public

                                            ____________________________________
                                                         Printed

My Commission Expires:

______________________

                                  BRADLEY S. FUSON, NOTARY PUBLIC
My County of Residence: [SEAL] My Commission Expires: August 25, 2006
                                    Residing in Hamilton County
______________________

                                      -7-

<PAGE>

                            ACKNOWLEDGMENT BY COMPANY

         The terms and provisions of the foregoing Subordination Agreement
between CHARLES A. BEASLEY AND MARJORIE A. BEASLEY, as Junior Creditor, and OLD
NATIONAL BANK, as Lender, are hereby acknowledged and approved on behalf of the
Company as of the 27th day of February, 2003.

                           SYNDICATED FOOD SERVICE
                           INTERNATIONAL, INC.

                           By: /s/ Thomas P. Tanis, Jr.
                               -------------------------------------------------
                               Thomas P. Tanis, Jr., Chief Executive Officer

STATE OF INDIANA         )
                         ) SS:
COUNTY OF MARION         )

         Before me the undersigned, a Notary Public in and for Hamilton
County, State of Indiana, personally appeared Thomas P. Tanis, Jr., the Chief
Executive Officer of Syndicated Food Service International, Inc., a Florida
corporation, and acknowledged the execution of the foregoing Subordination
Agreement this 27th day of February, 2003.

                                                     /s/ Bradley S. Fuson
                                            -----------------------------------
                                                      Notary Public

                                            ____________________________________
                                                         Printed

My Commission Expires:

_______________________

                                  BRADLEY S. FUSON, Notary Public
My County of Residence: [SEAL] My Commission Expires: August 28, 2008
                                   Residing in Hamilton County
______________________

This Instrument Prepared By: Bradley S. Fuson, Attorney-At-Law
                             Krieg DeVault LLP
                             2800 One Indiana Square
                             Indianapolis, Indiana 46204-2017
                             (317) 636-4341

Schedule I:    Description of Collateral Securing Junior Indebtedness

                                      -8-

<PAGE>

                      SCHEDULE I TO SUBORDINATION AGREEMENT

             DESCRIPTION OF COLLATERAL SECURING JUNIOR INDEBTEDNESS
<PAGE>

                              TRANSPORTATION FLEET

<TABLE>
<CAPTION>
  NUMBER
  ------                                                                   GROSS       ORIG.
NEW    OLD            VIN #              MAKE          YEAR      MILES     WEIGHT      COST            COMMENTS
---    ---            -----              ----          ----      -----     ------      ----            --------
 TRACTORS
----------
<S>    <C>      <C>                  <C>               <C>       <C>       <C>         <C>             <C>
109     72      1HSCBAER7YJ039881    International     2000      123152    80,000
113     74      1HSHBAHN2XH619303    International     1999      184927    55,000
115     75      1HSHBAHN7XH622729    International     1999      241985    55,000
117             1HSHBAHN9XH619301    International     1999       52094    55,000
       105      1HSHBADN3TH324176    International     1996      509361    55,000
       111      1HSHBAAN3TH225393    International     1996      340509    55,000

       101      1HSSDAANXRH596236    International     1994      387925    55,000
119     85      1HSR4G2N5NH314442    International     1991      679181    55,000
</TABLE>

<TABLE>
<CAPTION>
STRAIGHT TRUCKS
---------------
  NUMBER
  ------                                                                   GROSS       ORIG.
NEW    OLD            VIN #              MAKE          YEAR      MILES     WEIGHT      COST            COMMENTS
---    ---            -----              ----          ----      -----     ------      ----            --------
<S>    <C>      <C>                  <C>               <C>       <C>       <C>         <C>             <C>
        96      1HTSDAANXTH323137    International     1996      273872    30,000
        76      1HTSDAAN1SH227704    International     1995      398713    30,000
        89      1HTSDAAP3RD575337    International     1994      598475    30,000
        91      1HTSDAAPXRH575335    International     1994      241088    30,000
        94      1HTSDAAP1RH575336    International     1994      416561    30,000
 93    106      1FV6HFBAX5L741290    freightliner      1994      283662    30,000
 95    102      1HTSDZZN8LH223993    International     1990      487699    30,000
        78      1HTLCZWP1KH645356    International     1989      433369    30,000
        87      1FDPK74ROKVA37281    Ford              1989      425332    30,000
        47      1HTLCCFPOKH605377    International     1989      339168    30,000
        86      1HTEDUXP1JH567285    International     1988      544638    30,000
        77      1HTLDUXP8JH567283    International     1988      541477    30,000
</TABLE>

<TABLE>
<CAPTION>
  NUMBER
  ------                                                                   GROSS       ORIG.
NEW    OLD            VIN #              MAKE          YEAR      MILES     WEIGHT      COST            COMMENTS
---    ---            -----              ----          ----      -----     ------      ----            --------
SMALL VANS
----------
<S>    <C>      <C>                     <C>            <C>       <C>       <C>         <C>             <C>
        12       JALC4B1K8W7005765      Isuzu          1998       26509    16,000
        15      1GDGG31W6W10024039      GMC            1998       66550    16,000
 16    107       JALC4B1KOV7009274      Isuzu          1997       75791    16,000
 17    108       JALC4B1K4V7003929      Isuzu          1997       69334    16,000
 18     92       1FTFS24Y7PHB20034      Ford           1992      156575       N/A
</TABLE>

<PAGE>

                              TRANSPORTATION FLEET

<TABLE>
<CAPTION>
  NUMBER
  ------                                                                   GROSS       ORIG.
NEW    OLD            VIN #              MAKE          YEAR      MILES     WEIGHT      COST            COMMENTS
---    ---            -----              ----          ----      -----     ------      ----            --------
 TRAILERS
----------
<S>    <C>      <C>                    <C>             <C>       <C>       <C>         <C>             <C>
700    901      1GRAA5614YB126009      Great Dane      2000                39,000
       702      10YVS2321JU963901      Utility         1988                55,000
       704      1UYVS2325JU963903      Utility         1988                55,000
706    703      1UYVS2323JU963902      Utility         1988                55,000
708    109      1GRAA9025JB186105      Great Dane      1988                65,000
710    103      1H9RV2813T1081948      Hercules        1996                40,000
712    104      1H9RV2815T1081967      Hercules        1996                40,000
714    112      1H9RV2810X1081532      Hercules        1999                40,000
716    701      1H9RV281XW1081591      Hercules        1998                40,000
</TABLE>

<TABLE>
<CAPTION>
   AUTOMOBILES
   DESCRIPTION
   -----------                                                                       GROSS       ORIG.
DRIVER       COLOR          VIN #             MAKE/MODEL         YEAR      MILES     WEIGHT      COST         COMMENTS
------       -----          -----             ----------         ----      -----     ------      ----         --------
<S>          <C>      <C>                   <C>                  <C>       <C>       <C>         <C>          <C>
  KW          WHT     1GNOM192XNB183116     Chevy Van             92
  MM          GRN     3FASP1514SR194486     Ford Escort XL        95
  PB          WHT     1FMCA11U3VZA16029     Ford Van              97
  DS          WHT     1GNDM192XNB203073     Chevy Van             92
 LOT          BRN     1FMCA11U5VZB15158     Ford AeroStar XLT     97
  CB          RED     1GCC519XOT8174895     Chevy S10 Truck       96
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}]]