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                                                                   EXHIBIT 10.15

                     CENTENNIAL SPECIALTY FOODS CORPORATION
                         COMPENSATION COMMITTEE CHARTER

PURPOSE:

      The Compensation Committee of Centennial Specialty Foods Corporation (the
"Company") is charged with the following responsibilities:

      -     reviewing and recommending to the Board of Directors the annual base
            salary, bonus and other benefits for the senior executive officers
            of the Company;

      -     reviewing and commenting on new executive compensation programs that
            the Company proposes to adopt;

      -     periodically reviewing the results of the Company's executive
            compensation and perquisite programs to ensure that such
            compensation is properly coordinated to yield payments and benefits
            that are reasonably related to executive performance;

      -     ensuring that a significant portion of executive compensation is
            reasonably related to the long-term interests of the shareholders;

      -     participating in the preparation of certain portions of the
            Company's annual proxy statement;

      -     preparing an annual Compensation Committee Report;

      -     if necessary, hiring a compensation expert to provide independent
            advice on compensation levels; and

      -     ensuring that the Company undertakes appropriate planning for
            management succession and advancement.

COMPENSATION PHILOSOPHY:

      The primary objective of the Company's executive compensation program is
to help the Company to achieve its strategic business objectives and to create
value for the Company's shareholders by attracting, motivating and retaining
highly qualified employees with outstanding ability. In addition, the
compensation program is designed to promote teamwork, initiative and
resourcefulness on the part of key employees whose performance and
responsibilities directly affect Company profits. The compensation program
strives to align compensation methods with shareholder interests to achieve
desired results and, above all, to pay for performance.

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MEMBERSHIP:

      The Compensation Committee will be composed of not less than three (3)
members of the Board. The members will be selected by the Board, taking into
account prior experience in matters to be considered by the committee, probable
availability at times required for consideration of such matters, and their
individual independence and objectivity.

      No present or former officers or employees of the Company or any of its
subsidiaries may serve on the Committee unless if, in the opinion of the Board
of Directors, the former officer will exercise independent judgment and will
significantly assist the committee to function. However, a majority of the
Committee will be directors who are or were not formerly officers of the Company
or and of its subsidiaries.

MEETINGS:

      The Committee shall meet at least three times annually, or more frequently
as circumstances dictate. As part of its job to foster open communication, the
Committee should meet at least annually with management to discuss any matters
that the committee or each of these groups believe should be discussed
privately.

COMPENSATION COMPONENTS:

      The Company's executive compensation program consists of a mixture of base
salary, cash bonuses and stock options. In determining the mix and total amount
of compensation for each executive officer, the Compensation Committee
subjectively considers the executive's overall value to the Company including
past and expected contributions by the officer to the Company's goals. In
addition, the Compensation Committee strives to balance short-term and long-term
incentive compensation to achieve desired results.

BASE SALARY:

      The Company has historically determined base salary for its executives
based on qualifications, job requirements and competitive market salaries that
such qualifications and job requirements command. As the Company grows, it will
rely more heavily on peer group competitive compensation practices to remain
consistent and competitive in its compensation practices.

      Salaries for executives shall be reviewed by the Compensation Committee on
an annual basis and may be adjusted based upon its assessment of the
individual's contribution to and financial growth of the Company as well as
competitive pay levels.

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BONUS:

      Bonuses may be granted for a fiscal year after the financial results for
that fiscal year become available. The Compensation Committee shall meet to
consider annual bonuses for each executive based on individual performance as
well as overall financial results of the Company for the year. There is no plan
requiring that bonuses be paid. However, pursuant to their employment
agreements, certain executive officers may be entitled to receive an annual
bonus, the actual amount of which shall be determined in the sole discretion of
the Compensation Committee.

STOCK OPTIONS:

      The Company believes that significant equity interests in the Company in
the form of stock options held by the Company's management serve to align the
interests of the executive management team with shareholder interests. The
Compensation Committee may grant stock options and restricted stock to
executives and other key employees of the Company pursuant to the Stock
Incentive Plan, as amended.

      In determining the grants of stock options and restricted stock, the
Compensation Committee shall take into account, among other things, the
respective scope of responsibility and the anticipated performance requirements
and contributions to the Company of each proposed award recipient as well as the
amount of prior grants.

DEDUCTIBILITY OF EXECUTIVE COMPENSATION:

      Section 162(m) of the Internal Revenue Code of 1986, as amended (the
"Code"), limits the deductibility of compensation over $1 million to certain
executive officers unless, in general, the compensation is paid pursuant to a
plan which is performance related, non-discretionary and has been approved by
the Company's shareholders. The Compensation Committee intends to establish
policies regarding qualification of compensation under Section 162(m) of the
Code to the extent it considers such policies appropriate.

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                                                                   EXHIBIT 10.16

                          DISCLOSURE COMMITTEE CHARTER

         This Disclosure Committee (the "Committee") Charter (the "Charter") has
been established by Centennial Specialty Foods Corporation (the "Company") to
set forth the duties and responsibilities of the Committee, all of which will be
ratified by the Audit Committee of the Board of Directors. As set forth below,
the Committee's primary function will be to assist the Chief Executive Officer
and Chief Financial Officer (the "Certifying Officers") in preparing the
Company's disclosure documents to be filed by the Company with the Securities
and Exchange Commission ("SEC") under the Securities Act of 1933, as amended,
and the Securities Exchange Act of 1934, as amended.

         I. OBJECTIVE. The Committee has been formed to help ensure that
disclosures made by the Company in SEC filings and to the investment community
comply with applicable laws and stock exchange or national securities
association rules.

         The Committee shall have full access to the Company's books, records
and facilities. The Committee is authorized to confer with the Company's
independent auditors, officers and employees, and to investigate any matter
within the scope of the Committee's responsibilities. The Committee may, with
the prior approval of the Certifying Officers, retain independent consultants to
verify the accuracy and completeness of Company disclosures.

         The Committee will, under the supervision and oversight of the
Certifying Officers, facilitate those objectives by:

                  A. Establishing a process ("Disclosure Controls") designed to
         ensure that information required by the Company to be disclosed in
         filings with the SEC and other information that the Company discloses
         to the investment community is recorded, processed, summarized and
         reported accurately and timely.

                  B. Supervising the preparation of the Company's (i) annual
         report on Form 10-KSB and each quarterly report on Form 10-QSB
         (collectively, the "periodic reports"), and current reports, proxy
         statements, information statements, registration statements and other
         filings with the SEC, (ii) press releases containing financial and
         other information material to the marketplace for Company securities,
         (iii) presentations to stockholders, analysts and the investment
         community and (iv) presentations to rating agencies and lenders
         (collectively, the "Disclosure Statements") , and the Company's web
         site(s).

                  C. Evaluating the integrity and effectiveness of the Company's
         Disclosure Controls within 90 days before the Company files its
         periodic reports with the SEC and any amendments to those reports.

                  D. Reviewing with the Certifying Officers all relevant
         information with respect to the Committee's proceedings, the
         preparation of Disclosure Statements and the Committee's evaluation of
         the effectiveness of the Company's Disclosure Controls.

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                  E. Certifying to the Certifying Officers before filing each
         periodic report as to (i) the Committee's compliance with this charter
         and the Disclosure Controls, and (ii) the Committee's conclusions
         resulting from its evaluation of the effectiveness of the Disclosure
         Controls.

II.  MEMBERSHIP AND PROCESS

                  A. Committee members shall include the principal accounting
         officer (or controller), the company's outside securities counsel or,
         if appointed, the senior legal official with responsibility for
         disclosure matters, the chief investor relations officer (or an officer
         with equivalent responsibilities), and a representative of Hoopeston
         Foods Denver Corp. with operating responsibility in the production of
         the Company's products. Other Committee members may be appointed or
         removed by the Certifying Officers.

                  B. The Certifying Officers (acting with such members of the
         Committee as they shall elect) may, at any time, assume any or all of
         the duties of the Committee identified in this Charter, including, for
         example, approving Disclosure Statements (as defined below) when time
         or other factors do not permit the full Committee to review the
         Disclosure Statement. If neither of the Certifying Officers is
         available, they may delegate their responsibilities to any member of
         the Committee.

                  C. One of the Certifying Officers shall serve as the Committee
         chair. The Committee chair shall schedule and preside over meetings and
         prepare agendas. Any interpretation of the Charter or the Committee's
         procedures shall be made by the Committee chair.

                  D. As soon as practicable, the Committee shall prepare and
         submit for the approval of the Certifying Officers a set of Disclosure
         Controls, including policies and procedures of the Committee and
         policies and procedures to test the effectiveness of the Disclosure
         Controls.

                  E. The Committee shall meet as necessary to (i) ensure the
         accuracy and completeness of Disclosure Statements and (ii) evaluate
         the Disclosure Controls.

III. PERIODIC EVALUATION. The Committee shall review and reassess this Charter
and the performance of the Committee annually and recommend any proposed changes
to the Certifying Officers and the Audit Committee for approval. The Committee
shall formally present its charter to the Audit Committee for approval at least
once every two years.

IV. OTHER RESPONSIBILITIES AND DELEGATION. The Certifying Officers may assign
other responsibilities, consistent with this Charter, to the Committee, and the
Committee may delegate as they consider appropriate. However, any delegation of
responsibilities shall be discussed with, and approved by, the Audit Committee
of the Board of Directors.

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