Document:

Employment Agreement

 Exhibit 10.45 
 EMPLOYMENT AGREEMENT 
 AGREEMENT, dated as of the 9th day of April, 2008, by and among Michael Foods,
Inc., a Delaware corporation having its principal executive offices in Minnetonka, Minnesota (inclusive of its successors and assigns, the “Company”), Thomas J. Jagiela (the “Executive”), for the purposes of
Section 2(c)(i) hereof, Michael Foods Investors, LLC, a Delaware limited liability company and ultimate controlling entity of the Company (“Investors”) and for the purposes of Section 2(c)(ii) hereof, M-Foods Holdings,
Inc. (“Holdings”). 
 IT IS HEREBY AGREED AS FOLLOWS: 
 1. Employment Period. Subject to the terms and conditions of this Agreement, including Section 3, the Company hereby agrees to employ the
Executive, and the Executive hereby agrees to serve in the employ of the Company, for the period commencing on the date hereof (the “Effective Date”) and ending on the second anniversary of such Effective Date (the
“Employment Period”). 
 2. Terms of Employment. 
 a. Position and Duties. During the Employment Period, the Executive shall serve as Senior Vice President of Operations and Supply
Chain of the Company with the appropriate authority, duties and responsibilities attendant to such position. During the Employment Period, and excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive agrees
to devote substantially all of his attention and time during normal business hours to the business and affairs of the Company and, to the extent necessary to discharge the responsibilities assigned to the Executive hereunder, to use the
Executive’s reasonable best efforts to perform faithfully and efficiently such responsibilities. 
 b.
Compensation. 
 i. Annual Base Salary. Effective immediately, and during the Employment Period, the Executive shall
receive an annual base salary (“Annual Base Salary”) of at least $275,000, the competitiveness of which shall be periodically reviewed and adjusted in the discretion of the Company. 
 ii. Annual Bonus. During the Employment Period, the Executive shall participate in such bonus arrangements as may be approved by the
Compensation Committee (the “Compensation Committee”) of the Board of Directors of the Company (the aggregate of all payments made under such bonus arrangements being herein referred to as the “Annual Bonus”).
Executive’s aggregate bonus opportunity will be up to a maximum of 75% of Annual Base Salary. For fiscal year 2008, the Executive’s bonus will be no less than 56.25% of the Executive’s actual 2008 W-2 earnings from the Company
less the one-time signing bonus paid to Executive. The Annual Bonus shall be paid within two and one-half months of the end of the fiscal year of the Company to which it relates. 

 iii. Signing Bonus. Upon the Effective Date, the Company shall pay the Executive a
signing bonus of $75,000. 
 c. Equity. 
 i. Concurrently with the Effective Date and conditioned upon execution by the Executive of a senior management unit subscription agreement
and a joinder agreement to Holding’s limited liability company agreement (the “LLC Agreement”), Investors shall issue to the Executive 1,000 Class E units of Investors for a purchase price of $125,000, such units having the
terms set forth in the LLC Agreement (the “Units”). The Units will be subject to vesting in three equal installments, with the first one-third vesting on the first anniversary of the Effective Date, the second one-third vesting on
the second anniversary of the Effective Date and the last one-third vesting on the third anniversary of the Effective Date. The Units shall become 100% vested upon the occurrence of a Change of Control. Upon termination of the Executive’s
employment for any reason, Investors, at its option, may repurchase the Units at the following price: 
 1. with respect to
the unvested Units: (a) if terminated by the Company for Cause or by the Executive other than for Good Reason, then at a price equal to the lower of the original price paid by the Executive for the Units (“Cost”) or the fair
market value of the Units on the Date of Termination; and (b) if terminated for any reason other than as set forth in (a), at a price equal to Cost; and 
 2. with respect to the vested Units: (a) if terminated by the Company for Cause or by the Executive other than for Good Reason,
death or Disability, then at a price equal to Cost; and (b) if terminated for any reason other than as set forth in (a) above, at a price equal to the greater of Cost or the fair market value of the Units on the Date of Termination.

 ii. Concurrently with the Effective Date and conditioned upon execution by the Executive of a stock option agreement,
Holdings shall issue to the Executive options to purchase 300 shares of common stock, $0.01 par value per share, of Holdings, such options having the terms set forth in the stock option agreement. 
 3. Termination of Employment. 
 a. With or Without Cause. The Company may terminate the Executive’s employment during the Employment Period with or without Cause. For purposes of this Agreement, “Cause” shall mean: (i) the failure of the
Executive to perform substantially the Executive’s duties with the Company or one of its affiliates (other than any such failure resulting from incapacity due to physical or mental illness); (ii) the willful 

  

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engaging by the Executive in illegal conduct or gross misconduct which is injurious to the Company; (iii) conviction of a felony or other crime
involving fraud or moral turpitude or a guilty or nolo contendere plea by the Executive with respect thereto; or (iv) any breach by the Executive of Section 5 of this Agreement. Cause shall not include the death or Disability of the
Executive. 
 b. Good Reason. The Executive’s employment may be terminated by the Executive for Good Reason. For
purposes of this Agreement, “Good Reason” shall mean, in the absence of a written consent of the Executive: 
 i.
the assignment to the Executive, without his consent, of any duties materially inconsistent with the Executive’s title, position, authority, duties or responsibilities as contemplated by Section 2(a)(i) of this Agreement, excluding for
this purpose an isolated, insubstantial and inadvertent action not taken in bad faith and which is remedied by the Company promptly after receipt of notice thereof given by the Executive; provided that it is specifically understood if such a change
is made by the Company within twelve (12) months following a Change in Control of the Company, the Executive may terminate for Good Reason only if: (A) Executive so terminates within one month of the occurrence of such change in position,
authority, duties and responsibilities being made, and (B) the Executive provides, for a period of up to six (6) months following the occurrence of such change, such reasonable transition services as may be requested by the acquiror in
such Change of Control, it being understood that for purposes of calculating any severance payments hereunder that the Date of Termination shall be the date on which such transition services terminate. 
 ii. any failure by the Company to comply with and satisfy Section 7(b) of this Agreement; or 
 iii. any requirement that the Executive be based anywhere more than fifty (50) miles from the principal executive office of the
Company. 
 c. Death or Disability. The Executive’s employment shall terminate automatically upon the
Executive’s death. If the Company determines in good faith that a Disability of the Executive has occurred during the Employment Period, the Company may provide the Executive with written notice in accordance with clause (d) below.
“Disability” shall mean a determination by the Company in its sole discretion that the Executive is unable to perform his job responsibilities as a result of chronic illness, physical, mental or any other disability for a period of 6
months or more. 
 d. Date of Termination. “Date of Termination” means (i) if the Executive’s
employment is terminated by the Company, the date of receipt of the notice of termination or any later date specified therein within thirty (30) days of such notice; or (ii) if the Executive’s employment is terminated by the
Executive, thirty days after the giving of such notice by the Executive provided that the Company may elect to place the Executive on paid leave for all or any part of such thirty (30) day period. 
  

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 e. Expiration. Pursuant to Section 1, this Agreement will expire by it terms
at the end of the Employment Period. The expiration of this Agreement shall not be considered a “termination” of the Executive and the Company shall have no obligations to the Executive pursuant to Section 4 hereof. 
 f. Change in Control. “Change in Control” 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 party or parties other than Thomas H. Lee Equity Fund V, L.P., a Delaware limited partnership
(“THL”) or its affiliates on an arm’s-length basis, pursuant to which (a) such party or parties, directly or indirectly 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, (b) such party or parties, directly or indirectly, acquire assets constituting all or substantially all of the assets of the Company and its subsidiaries on a
consolidated basis, or (c) prior to an initial public offering of the Company Common Stock pursuant to an offering registered under the 1933 Act, THL or its affiliates, cease to have the ability to elect, directly or indirectly, a majority of
the Board of Directors of the Company. 
 4. Obligations of the Company upon Termination. 
 a. By the Company for Cause; By the Executive Other than for Good Reason. If the (i) Executive’s employment is terminated
for Cause; or (ii) the Executive terminates his employment without Good Reason during the Employment Period, then this Agreement shall terminate as of the Date of Termination without further obligations to the Executive other than the
obligation to pay to the Executive (i) his Annual Base Salary through the Date of Termination to the extent theretofore unpaid and (ii) any other amounts or benefits required to be paid or provided or which the Executive is entitled to
receive under any plan, program, policy or practice of or contract or agreement with the Company and its affiliated companies through the Date of Termination (such other amounts and benefits shall be hereinafter referred to as the “Other
Benefits”). 
 b. By the Company Other than for Cause, Death or Disability; By the Executive for Good Reason.
If, during the Employment Period, the Executive’s employment is terminated by the Executive for Good Reason or by the Company other than for Cause and other than on account of death or Disability, the Company shall pay to the Executive in one
lump sum in cash within thirty (30) days after the Date of Termination, a sum equal to the Executive’s Annual Base Salary plus the Other Benefits. 
 c. Upon a Change in Control. If, during the Employment Period and within twelve (12) months of a Change in Control, the
Executive’s employment is terminated by the Executive for Good Reason or by the Company other than for Cause and other than on account of death or Disability, the Company shall pay to the Executive in one lump sum in cash within thirty
(30) days after the Date of Termination a sum equal to the Executive’s Annual Base Salary and the Other Benefits. 
  

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 d. Welfare Benefits. In the event of a termination described in Section 4(b)
or 4(c) for a period of one (1) year following the Executive’s Date of Termination, the Company shall (i) continue to provide medical, dental and life insurance benefits to the Executive, his spouse and children under age 25 on the
same basis, including, without limitation, employee contributions, as such benefits are then currently provided to the Executive (“Welfare Benefits”); or (ii) provide the Executive with monthly payments sufficient to purchase
such Welfare Benefits; provided that the provision of such Welfare Benefits or payments shall cease in the event that Executive becomes eligible to receive comparable benefits from another employer. 
 e. Liquidated Damages. The benefits and amounts payable to Executive under this Section 4 shall be deemed liquidated damages.

 5. Noncompetition and Nonsolicitation. The Executive acknowledges that in the course of his employment with the Company he will
become familiar with the Company’s and its subsidiaries’ trade secrets and other confidential information concerning the Company and such subsidiaries and that his services will be of special, unique and extraordinary value to the Company
and its subsidiaries. Therefore the Executive agrees that: 
 a. Noncompetition. During the period commencing on the
Effective Date and ending on the second anniversary of the date that the Executive’s employment with the Company terminates, the Executive shall not, for himself or on behalf of any other person, firm, partnership, corporation, or other entity,
engage, directly or indirectly, as an executive, agent, representative, consultant, partner, shareholder or holder of any other financial interest, in any business that competes with the Company in the business of the production, distribution or
sales of eggs or egg products or refrigerated potato products or any other business engaged in by the Company at the time of termination of Executive’s employment with the Company (a “Competing Business”). Nothing herein shall
prohibit the Executive from being a passive owner of not more than 2% of the outstanding publicly traded stock of any class of a Competing Business so long as the Executive has no active participation in the business of such entity. The Executive
acknowledges that this Agreement, and specifically, this Section 5, does not preclude the Executive from earning a livelihood, nor does it unreasonably impose limitations on the Executive’s ability to earn a living. In addition, the
Executive agrees and acknowledges that the potential harm to the Company of its non-enforcement outweighs any harm to the Executive of its enforcement by injunction or otherwise. 
 b. Nonsolicitation. During the period commencing on the Effective Date and ending on the date six (6) months after the date
that the Executive’s employment with the Company terminates, the Executive shall not directly or indirectly through another entity (i) induce or attempt to induce any employee of the Company or its subsidiaries to leave the employ of the
Company or its subsidiaries, or in any way interfere with the relationship between the Company or any of its subsidiaries and any employee thereof, (ii) hire any person who was an employee of the Company or any of its subsidiaries within 180
days prior to the time such employee was hired by the Executive, (iii) induce or attempt to induce any customer, supplier, licensee or other business relation of the Company or any of its subsidiaries to cease doing business with the Company or
its 

  

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subsidiaries or in any way interfere with the relationship between any such customer, supplier, licensee or business relation and the Company or any
subsidiary or (iv) directly or indirectly acquire or attempt to acquire an interest in any business relating to the business of the Company or any of its subsidiaries and with which the Company or any of its subsidiaries has entertained
discussions or has requested and received information relating to the acquisition of such business by the Company or its subsidiaries in the one (1) year period immediately preceding the Executive’s termination of employment with the
Company. 
 c. Enforcement. The parties to this Agreement hereby agree and stipulate that (i) the restrictions
contained in this Agreement are reasonable and necessary in order to protect the Company’s and its subsidiaries’ legitimate business interests and (ii) in the event of any breach or violation of this Agreement or of any provision
hereof by the Executive, the Company and its subsidiaries will have no adequate remedy at law and will suffer irreparable loss and damage thereby. The parties hereby further agree and stipulate that in the event of any such breach or violation,
either threatened or actual, the Company’s and its subsidiaries’ rights shall include, in addition to any and all other rights available to the Company and its subsidiaries at law or in equity, the right to seek and obtain any and all
injunctive relief or restraining orders available to it in courts of proper jurisdiction, so as to prohibit, bar, and restrain any and all such breaches or violations by the Executive. The prevailing party to any legal action, arbitration or other
proceeding commenced in connection with enforcing any provision of this Section 5, including without limitation, obtaining the injunctive relief provided by this Section 5 shall be entitled to recover all court costs, reasonable
attorneys’ fees, and related expenses incurred by such party. The Executive further agrees that no bond need be filed in connection with any request by the Company and its subsidiaries for a temporary restraining order or for temporary or
preliminary injunctive relief. 
 d. Additional Acknowledgements. The Executive acknowledges that the provisions of
this Section 5 are in consideration of: (i) employment with Company, and (ii) additional good and valuable consideration as set forth in this Agreement, including, without limitation, the payments to be made under Section 4
hereof. In addition, the Executive acknowledges (i) that the business of the Company and its subsidiaries is international in scope and without geographical limitation and (ii) notwithstanding the state of incorporation or principal office
of the Company or any of its subsidiaries, or any of their respective executives or employees (including the Executive), it is expected that the Company will have business activities and have valuable business relationships within its industry
internationally. The Executive acknowledges that he has carefully read this Agreement and has given careful consideration to the restraints imposed upon the Executive by this Agreement, and is in full accord as to their necessity for the reasonable
and proper protection of confidential and proprietary information of the Company and its subsidiaries now existing or to be developed in the future. The Executive expressly acknowledges and agrees that each and every restraint imposed by this
Agreement is reasonable with respect to subject matter, time period and geographical area. 
  

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 6. Full Settlement; Arbitration. Other than with respect to the enforcement of Section 5
hereof, the Parties agree that all claims relating to this Agreement shall be subject to arbitration in the State of Minnesota in accordance with the rules of the American Arbitration Association in the State of Minnesota. The non-prevailing party
in such arbitration shall pay, to the full extent permitted by law, all legal fees and expenses (including arbitration expenses) which the prevailing party may reasonably incur as a result of any contest pursued or defended against in good faith by
the prevailing party regarding the validity or enforceability of, or liability under, any provision of this Agreement. 
 7.
Successors. 
 a. This Agreement is personal to the Executive and without the prior written consent of the Company
shall not be assignable by the Executive otherwise than by will or the laws of descent and distribution. 
 b. The Company
will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume and agree to perform this Agreement in the same manner and to
the same extent that the Company would be required to perform it if no such succession had taken place. 
 8. Miscellaneous.

 a. This Agreement shall be governed by and construed in accordance with the laws of the State of Minnesota, without
reference to principles of conflict of laws. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. This Agreement may not be amended or modified otherwise than by a written agreement executed by the
parties hereto or their respective successors and legal representatives. 
 b. Whenever possible, each provision of this
Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any
jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or
unenforceable provision had never been contained herein. 
 c. The Company may withhold from any amounts payable under this
Agreement such Federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 
 d. Subject to the provisions of Section 3(d), there shall be no limitation on the ability of the Company to terminate the Executive at any time with or without Cause. 
 e. All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other party or by
registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
  

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 If to the Executive: 
 Thomas J. Jagiela 
 5400 River Bluff Curve 
 Bloomington, MN 55437 
 If to the Company:

 Michael Foods, Inc. 
 301
Carlson Parkway, Suite 400 
 Minnetonka, MN 55305 
 Attention: Secretary 
 with a copy to: 
 Thomas H. Lee Equity Fund V, L.P. 
 100
Federal Street, 35th Floor 
 Boston, MA 02110 
 Attention: Anthony J. DiNovi 
 Kent Weldon 
 Todd Abbrecht 
 or to such other address as either party
shall have furnished to the other in writing in accordance herewith. Notice and communications shall be effective when actually received by the addressee. 
 [SIGNATURE PAGE FOLLOWS] 
  

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 IN WITNESS WHEREOF, the Executive has hereunto set the Executive’s hand and the Company has caused
these presents to be executed in its name on its behalf, all as of the day and year first above written. 
  

			
	 /s/ Thomas J. Jagiela

	Thomas J. Jagiela
	
	MICHAEL FOODS, INC.
		
	By:	 	
	
	 /s/ Mark Witmer

	Name:	 	Mark Witmer
	Title:	 	Secretary
	
	MICHAEL FOODS INVESTORS, LLC
		
	By:	 	
	
	 /s/ Mark Witmer

	Name:	 	Mark Witmer
	Title:	 	Secretary
	
	M-FOODS HOLDINGS, INC.
		
	By:	 	
	
	 /s/ Mark Witmer

	Name:	 	Mark Witmer
	Title:	 	SecretarySenior Management Unit Subscription Agreement

 Exhibit 10.46 
 SENIOR MANAGEMENT 
 UNIT SUBSCRIPTION AGREEMENT 
 THIS SENIOR MANAGEMENT UNIT SUBSCRIPTION AGREEMENT (this “Agreement”) is made as of April 9, 2008, by and among Michael Foods
Investors, LLC, a Delaware limited liability company (“Investors”), and Thomas J. Jagiela (the “Executive”). 
 WHEREAS, concurrently herewith, the Executive is entering into an Employment Agreement with Michael Foods, Inc., a Delaware corporation (the “Company”); and 
 WHEREAS, the Class E Units of Investors (“Class E Units”) being issued to Executive hereunder shall have the rights and benefits
under, and be subject to, the LLC Agreement (as defined below) and Subscription Agreement (as defined below). 
 NOW, THEREFORE, in order to
implement the foregoing and in consideration of the mutual representations, warranties, covenants and agreements contained herein, the parties hereto agree as follows: 
  

	1.	Definitions. 

 1.1 Agreement. The term
“Agreement” shall have the meaning set forth in the preface. 
 1.2 Applicable Percentage. Except as provided
otherwise in the next sentence, the term “Applicable Percentage” shall mean: (i) 0% during the one-year period commencing on the date hereof; (ii) 33.33% during the one-year period commencing on the first anniversary of
the date hereof; (iii) 66.66% during the one-year period commencing on the second anniversary of the date hereof; and (iv) 100% on and after the third anniversary of the date hereof. Notwithstanding the foregoing, immediately prior to and
after the occurrence of a Change in Control, such Applicable Percentage shall mean 100%. 
 1.3 Board. The “Board” shall
mean Investors’ Management Committee. 
 1.4 Cause. The term “Cause” used in connection with the termination of
employment of the Executive shall have the same meaning ascribed to such term in any employment or severance agreement then in effect between Executive and Investors or one of its subsidiaries or, if no such agreement containing a definition of
“Cause” is then in effect, shall mean (i) the failure of the Executive to perform substantially the Executive’s duties with Investors or one of its affiliates (other than any such failure resulting from incapacity due to physical
or mental illness); (ii) the willful engaging by the Executive in illegal conduct or gross misconduct which is injurious to Investors or one of its subsidiaries; (iii) conviction of a felony or other crime involving fraud or moral
turpitude or a guilty or nolo contendere plea by the Executive with respect thereto; or (iv) any breach by the Executive of any noncompetition, nonsolicitation or confidentiality agreement between the Company and the Executive. 
 1.5 Change in Control. The term “Change in Control” 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 party or parties other than THL or its affiliates on an
arm’s-length basis, pursuant to which (a) such party or parties, directly or indirectly, 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, (b) such party or parties, directly or indirectly, acquire assets constituting all or substantially all of the assets of the Company and its subsidiaries on a consolidated basis, or (c) prior to an initial
public offering of the Company Common Stock pursuant to an offering registered under the 1933 Act, THL or its affiliates cease to have the ability to elect, directly or indirectly, a majority of the Board. In no event shall a Change in Control
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. 
 1.6 Class E Units. The term “Class E Units” shall have the meaning set forth in the preface.

 1.7 Company. The term “Company” shall have the meaning set forth in the preface. 
 1.8 Cost. The term “Cost” shall mean, with respect to a Class E Unit, $125.00 per unit (as proportionately adjusted for all
subsequent distributions of units and other recapitalizations). 
 1.9 Disability. The term “Disability” used in
connection with the termination of employment of the Executive shall have the same meaning ascribed to such term in any employment or severance agreement then in effect between Executive and Investors or one of its subsidiaries or, if no such
agreement containing a definition of “Disability” is then in effect, shall mean a determination by the Company in its sole discretion that Executive is unable to perform his job responsibilities as a result of chronic illness, physical,
mental or any other disability for a period of six months or more. 
 1.10 Employee and Employment. The term
“employee” shall mean any employee (as defined in accordance with the regulations and revenue rulings then applicable under Section 3401(c) of the Internal Revenue Code of 1986, as amended) of Investors or any of its
subsidiaries, and the term “employment” shall include service as a part- or full-time employee to Investors or any of its subsidiaries. 
 1.11 Executive. The term “Executive” shall have the meaning set forth in the preface. 
 1.12 Executive Group. The term “Executive Group” shall have the meaning set forth in Section 4.1(a). 
 1.13 Fair Market Value. The term “Fair Market Value” used in connection with the value of Units shall mean the fair value of the Units determined in good faith by the Board (without taking into account the effect of
any contemporaneous repurchase of Units at less than Fair Market Value under Section 6); provided that, the Board shall assume, as of such calculation date, the sale of all of the assets of Investors at fair value and the
distribution of the proceeds resulting therefrom in accordance with the distribution provisions set forth in the LLC Agreement. 

 1.14 Financing Default. The term
“Financing Default” shall mean any event of default under (i) that certain Credit Agreement by and among the Company, Michael Foods Holdings, Inc. and Bank of America, as administrative Agent, as amended, (ii) that certain Senior
Unsecured Term Loan Agreement by and among the Company, Michael Foods Holdings, Inc. and Bank of America, as administrative agent as amended, (iii) those certain 8.00% Senior Subordinated Notes due 2013 in an aggregate principal amount of
$150,000,000 issued on or about November 20, 2003, and (iv) those certain 9 3/4% Discount Senior Notes due 2013 issued
on or about September 17, 2004, or any other similar notes or instruments that Investors or its Subsidiaries may issue from time to time. 
 1.15 Good Reason. The term “Good Reason” shall have the same meaning ascribed to such term in any employment or severance agreement then in effect between Executive and Investors or one of its
subsidiaries or, if no such agreement containing a definition of “Good Reason” is then in effect, shall mean: 
 (a) the assignment to the Executive, without his consent, of any duties materially inconsistent with the Executive’s title, position, authority, duties or responsibilities, excluding for this purpose an isolated, insubstantial and
inadvertent action not taken in bad faith and which is remedied by the Company promptly after receipt of notice thereof given by the Executive; provided that it is specifically understood if such a change is made by the Company within twelve
(12) months following a Change in Control of the Company, the Executive may terminate for Good Reason only if: (A) Executive so terminates within one month of the occurrence of such change in position, authority, duties and
responsibilities being made, and (B) the Executive provides, for a period of up to six (6) months following the occurrence of such change, such reasonable transition services as may be requested by the acquiror in such Change of Control;
or 
 (b) any requirement that the Executive be based anywhere more than fifty (50) miles from the principal executive
office of the Company. 
 1.16 Investors. The term “Investors” shall have the meaning set forth in the preface.

 1.17 LLC Agreement. The term “LLC Agreement” shall mean the Amended and Restated Limited Liability Company
Agreement of Investors, dated as of November 20, 2003, entered into by and among the members of Investors, as amended from time to time in accordance with its terms. 
 1.18 Permitted Transferee. The term “Permitted Transferee” means any transferee of Units pursuant to clauses (e) or (f) of the definition of “Exempt Transfer” as defined in
the Securityholders Agreement. 
 1.19 Person. The term “Person” shall mean any individual, corporation, partnership,
limited liability company, trust, joint stock company, business trust, unincorporated association, joint venture, governmental authority or other entity of any nature whatsoever. 
 1.20 Public Offering. The term “Public Offering” shall have the meaning set forth in the Securityholders Agreement. 

 1.21 Retirement. The term “Retirement” shall mean, with respect to the Executive,
the Executive’s retirement as an employee of Investors or any of its subsidiaries on or after reaching age 65, or such earlier age as may be otherwise determined by the Board, after at least three years employment with Investors or any of its
subsidiaries. 
 1.22 Securities Act. The term “Securities Act” shall mean the Securities Act of 1933, as amended,
and all rules and regulations promulgated thereunder, as the same may be amended from time to time. 
 1.23 Securityholders Agreement.
The term “Securityholders Agreement” shall mean the Securityholders Agreement dated as of November 20, 2003, among Investors and the other securityholders party thereto, as it may be amended or supplemented thereafter from time
to time. 
 1.24 THL. The term “THL” means, collectively Thomas H. Lee Equity Fund V, L.P. and its affiliates. 

1.25 Termination Date. The term “Termination Date” means the date upon which Executive’s employment with Investors and
its subsidiaries is terminated. 
 1.26 Unvested Percentage. The term “Unvested Percentage” shall mean the result of
one minus the Applicable Percentage. 
  

	2.	Purchase and Sale. 

 2.1 Purchase and Sale.
Concurrently herewith, the Executive shall pay $125,000.00 to Investors against issuance of 1,000 Class E Units. The Executive shall pay the purchase price for the Class E Units by check or wire transfer of immediately available funds to
an account of Investors of which Executive has been notified. 
 2.2 Section 83(b) Election. With respect to the Class E Units
received by Executive, within 30 days after the date hereof, Executive shall make a timely election with the Internal Revenue Service under Section 83(b) of the Internal Revenue Code of 1986, as amended, and the regulations promulgated
thereunder in the form of Exhibit A attached hereto. 
  

	3.	Representations and Warranties of the Executive and Investors. 

 3.1 Unit Purchase Representations of the Executive. The Executive represents and warrants to Investors that the statements contained in this Section 3.1 are correct and complete as of the date of
this Agreement: 
 (a) Power and Authority. The Executive has full power and authority to execute and deliver this
Agreement and perform his obligations hereunder. This Agreement constitutes the valid and legally binding obligation of the Executive, enforceable in accordance with its terms and conditions. To the best of his knowledge, the Executive need not give
any notice to, make any filing with, or obtain any authorization, consent or approval of any government or governmental agency in order to consummate the transactions contemplated by this Agreement. 

 (b) Noncontravention. To the best of his knowledge, neither the execution and the
delivery of this Agreement, nor the consummation of the transactions contemplated hereby, will violate any constitution, statute, regulation, rule, injunction, judgment, order, decree, ruling, charge, or other restriction of any government,
governmental agency, or court to which the Executive is subject or conflict with, result in a breach of, constitute a default under, result in the acceleration of, create in any party the right to accelerate, terminate, modify, or cancel, or require
any notice under any agreement, contract, lease, license, instrument, or other arrangement to which the Executive is a party or by which he is bound or to which any of his assets is subject. 
 (c) Investment Representations: (i) The Executive has such knowledge and experience in financial and business matters so that
the Executive is capable of protecting the Executive’s own interests in connection with the acquisition of the Class E Units and evaluating the merits and risks of the Executive’s investment in Investors. 
 (ii) The Executive is an “accredited executive” as defined in Regulation D promulgated under the Securities Act. The Executive
is familiar with the type of investment that the Class E Units constitute and recognizes that an investment in Investors involves substantial risks, including risk of loss of the entire amount of such investment. The Executive can bear the economic
risk of the purchase of the Class E Units and of the loss of the entire amount of the investment. 
 (iii) The Executive is
aware that there are limitations and restrictions on the circumstances under which the Executive may offer to sell, transfer or otherwise dispose of the Class E Units. Such limitations and restrictions include those set forth in the LLC Agreement
and the Securityholders Agreement and those imposed by operation of applicable securities laws and regulations. The Executive acknowledges that as a result of such limitations and restrictions, it might not be possible to liquidate an investment in
the Class E Units readily and that it may be necessary to hold such investment for an indefinite period. 
 (iv) In evaluating
the suitability of an investment in Investors, the Executive has not relied upon any oral or written representations or other information from investors or any affiliate of Investors or any agent or representative of Investors or its affiliates
except as set forth herein. The Executive and the Executive’s advisors have had a reasonable opportunity to ask questions of and receive answers from a person or persons acting on behalf of Investor concerning the terms and conditions of the
offering of the Class E Units and have had access to, and been supplied with, all additional information deemed necessary by the Investor to verify the accuracy of such information. 
 (v) The Executive is acquiring the Class E Units for the Executive’s own account, for investment and not with a view to resale or
distribution except in compliance with the Securities Act, the LLC Agreement and the Securityholders’ Agreement. 

 3.2 Legends. The Executive acknowledges that a restrictive legend in the form set forth below and
the legends set forth in Section 6.2(a) and (b) of the Securityholders Agreement shall be placed on the certificates representing the Class E Units: 
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN REPURCHASE OPTIONS AND OTHER PROVISIONS SET FORTH IN A MANAGEMENT UNIT SUBSCRIPTION AGREEMENT BETWEEN THE ISSUER AND THE EXECUTIVE DATED AS
OF APRIL     , 2008, AS AMENDED AND MODIFIED FROM TIME TO TIME, A COPY OF WHICH MAY BE OBTAINED BY THE HOLDER HEREOF AT THE ISSUER’S PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE”; and 
 a notation shall be made in the appropriate records of Investors indicating that the Class E Units are subject to restrictions on transfer and, if
Investors should at some time in the future engage the services of a securities transfer agent, appropriate stop-transfer instructions will be issued to such transfer agent with respect to the Class E Units. 
 3.3 Representations of Investors. Investors represents to the Executive that the statements contained in this Section 3.3 are correct
and complete as of the date of this Agreement: 
 (a) Organization and Power. Investors is a limited liability company
duly organized, validly existing and in good standing under the laws of the State of Delaware with full power and authority to enter into this Agreement and perform its obligations hereunder. 
 (b) Authorization. The execution, delivery and performance of this Agreement by Investors and the consummation of the transactions
contemplated hereby by Investors have been duly and validly authorized by all requisite limited liability company action on the part of Investors, and no other proceedings on its part are necessary to authorize the execution, delivery or performance
of this Agreement. This Agreement has been duly executed and delivered by Investors, and this Agreement constitutes a valid and binding obligation of Investors, enforceable in accordance with its terms and conditions. Investors need not give any
notice to, make any filing with, or obtain any authorization, consent or approval of any government or governmental agency in order to consummate the transactions contemplated by this Agreement. 
 (c) Noncontravention. Neither the execution and the delivery of this Agreement, nor the consummation of the transactions
contemplated hereby, will violate any constitution, statute, regulation, rule, injunction, judgment, order, decree, ruling, charge, or other restriction of any government, governmental agency, or court to which Investors is subject or any provision
of its charter or bylaws or conflict with, result in a breach of, constitute a default under, result in the acceleration of, create in any party the right to accelerate, terminate, modify, or cancel, or require any notice under any agreement,
contract, lease, license, instrument, or other arrangement to which Investors is a party or by which it is bound or to which any of its assets is subject. 

	4.	Certain Sales Upon Termination of Employment. 

 4.1
Call Options. 
 (a) If the Executive’s employment with Investors or any of its subsidiaries terminates for any of
the reasons set forth in clauses (i), (ii) or (iii) below prior to a Change in Control, or if the Executive engages in Competitive Activity (as defined in Section 6.1 of this Agreement), for any Class E Units issued 181 days or
more prior to the date of Executive’s termination of employment or engagement in Competitive Activity, within 120 days after such date (or in the case of Class E Units issued 180 days or less prior to such date or at any time after such date,
no earlier than 181 days and no later than 271 days after the date of issuance of such Class E Units), Investors shall have the right and option to purchase, and the Executive and the Executive’s Permitted Transferees (hereinafter referred to
as the “Executive Group”) shall be required to sell to Investors, any or all of such Class E Units then held by such member of the Executive Group at a price per unit equal to the applicable purchase price determined pursuant to
Section 4.1(c): 
 (i) if the Executive’s active employment with Investors and its subsidiaries is terminated
due to the Disability, death or Retirement of the Executive; 
 (ii) if the Executive’s active employment with Investors
and its subsidiaries is terminated by Investors and its subsidiaries without Cause or by the Executive for Good Reason; or 
 (iii) if the Executive’s active employment with Investors and its subsidiaries is terminated (A) by Investors or any of its subsidiaries for Cause or (B) by the Executive for any other reason not set forth in
Section 4.1(a)(i) or Section 4.1(a)(ii). 
 (b) If Investors desires to exercise one of its options to
purchase Class E Units pursuant to this Section 4.1, Investors shall, not later than the expiration of the applicable period described for such purchase in Section 4.1(a), send written notice to each member of the Executive
Group of its intention to purchase Units, specifying the number of Class E Units to be purchased (the “Call Notice”). Subject to the provisions of Section 5, the closing of the purchase shall take place at the principal
office of Investors on the later of the 60th day after the giving of the Call Notice and the date that is 10 business days after the final determination of Fair Market Value. Subject to the provisions of Section 5.1, the Executive shall
deliver to Investors duly executed instruments transferring title to units to Investors, against payment of the appropriate purchase price by cashier’s or certified check payable to the Executive or by wire transfer of immediately available
funds to an account designated by the Executive. 

 (c) In the event of a purchase by Investors pursuant to Section 4.1(a), the
purchase price shall be: 
 (A) with respect to that number of Class E Units equal to the Unvested Percentage multiplied by the total number
of Class E Units issued hereunder (the “Unvested Number”): 
 (i) if the Executive engages in any Competitive
Activity (as defined in Section 6.1 of this Agreement), or a termination of employment described in Section 4.1(a)(iii), a price per unit equal to the lesser of (A) Fair Market Value (measured as of the Activity Date (as
defined in Section 6.2 of this Agreement)) and (B) Cost; or 
 (ii) in the case of a termination of
employment for any reason other than as set forth in Section 4.1(c)(A)(i) above, a price per unit equal to Cost. 
 (B) with
respect to all Class E Units other than the Unvested Number of Class E Units: 
 (i) if the Executive engages in any
Competitive Activity, or a termination of employment described in Section 4.1(a)(iii), a price per unit equal to Cost; or 
 (ii) in the case of a termination of employment for any reason other than as set forth in Section 4.1(c)(A)(i), a price per unit equal to the greater of (A) Fair Market Value (measured as of the Activity Date) and (B) Cost.

 4.2 Obligation to Sell Several. If there is more than one member of the Executive Group, the failure of any one member thereof to
perform its obligations hereunder shall not excuse or affect the obligations of any other member thereof, and the closing of the purchases from such other members by Investors shall not excuse, or constitute a waiver of its rights against, the
defaulting member. 
  

	5.	Certain Limitations on Investors’ Obligations to Purchase Units. 

 5.1 Payment for Units. If at any time Investors elects to purchase any Class E Units pursuant to Section 4, Investors shall pay the purchase price for the Class E Units it purchases (i) first,
by offsetting indebtedness, if any, owing from the Executive to Investors (which indebtedness shall be applied pro rata against the proceeds receivable by each member of the Executive Group receiving consideration in such repurchase) and
(ii) then, by Investors’ delivery of a check or wire transfer of immediately available funds for the remainder of the purchase price, if any, against delivery of the certificates or other instruments representing the Class E Units so
purchased, duly endorsed; provided that if such cash payment would result (A) in a violation of any law, statute, rule, regulation, policy, order, writ, injunction, decree or judgment promulgated or entered by any federal, state, local
or foreign court or governmental authority applicable to Investors or any of its subsidiaries or any of its or their property or (B) after giving effect thereto, a Financing Default, or (C) if the Board determines in good faith that
immediately prior to such purchase there shall exist a Financing Default which prohibits such purchase, 

 
dividend or distribution ((A) through (C) collectively the “Cash Deferral Conditions”), the portion of the cash payment so affected may
be made by Investors’ delivery of preferred units of Investors with a liquidation preference equal to the balance of the purchase price; which preferred units shall accrue yield annually at the “prime rate” published in The Wall
Street Journal on the date of issuance, which yield shall be payable at maturity or upon payment of distributions by Investors (other than tax distributions). Each such preferred unit shall as of its issuance be deemed to have basic contributions
made with respect to such unit equal to (A) the portion of the cash payment paid by the issuance of such preferred units divided by (B) the number of preferred units so issued in the repurchase. Any such preferred units issued shall
be promptly redeemed (i) when the Cash Deferral Condition which prompted their issuance no longer exists, (ii) upon consummation of a Public Offering of the Company or Michael Foods Holdings, Inc. (or their successors) (to the extent
allowed by the underwriters of such Public Offering), or (iii) upon a Change in Control from net cash proceeds, if any, payable to Investors or its unitholders; to the extent that sufficient net cash proceeds are not so payable, the preferred
units shall be cancelled in exchange for such non-cash consideration received by unitholders in the Change in Control having a fair market value equal to the principal of and accrued yield on the preferred units. If a yield is required to be paid on
any preferred units prior to maturity and any Cash Deferral Conditions exist, such yield may be cumulated and accrued until and to the extent that such prohibition no longer exists. 
  

	6.	Noncompetition. 

 6.1 Competitive Activity.
Executive shall be deemed to have engaged in “Competitive Activity” if, during the period commencing on the date hereof and ending on the second anniversary of the date Executive’s employment with Investors or its subsidiaries
terminates, (i) Executive, for himself or on behalf of any other person, firm, partnership, corporation, or other entity, engages, directly or indirectly, as an executive, agent, representative, consultant, partner, shareholder or holder of any
other financial interest, in any business that competes with Investors or its subsidiaries in the business of the production, distribution, or sales of eggs or egg products, refrigerated potato products or any other business engaged in by the
Company or its Subsidiaries at the time of termination of Executive’s employment (a “Competing Business”), it being understood and agreed that Executive’s activities shall not satisfy this clause (i)(B) where Executive is
employed by a person, firm, partnership, corporation, or other entity engaged in a variety of activities, including the Competing Business, and Executive is not engaged in or responsible for the Competing Business of such entity. Executive may also,
without satisfying clause, (i) be a passive owner of not more than 2% of the outstanding publicly traded stock of any class of a Competing Business so long as Executive has no active participation in the business of such entity, except to the
extent permitted above; or (ii) Executive (A) directly or indirectly through another entity, induces or attempts to induce any employee of the Company or its subsidiaries to leave the employ of the Company or its subsidiaries, or in any
way interfere with the relationship between the Company or any of its subsidiaries and any employee thereof, (B) knowingly hires any person who was an employee of the Company or any of its subsidiaries within 180 days prior to the time such
employee was hired by Executive, (C) induces or attempts to induce any customer, supplier, licensee or other business relation of the Company or any of its subsidiaries to cease doing business with the Company or its subsidiaries or in any way
interfere with the relationship between any such customer, supplier, licensee or business relation and the Company or any subsidiary or (D)

 
directly or indirectly acquires or attempt to acquire an interest in any business relating to the business of the Company or any of its subsidiaries and with
which the Company or any of its subsidiaries has entertained discussions or has requested and received information relating to the acquisition of such business by the Company or its subsidiaries in the one-year period immediately preceding
Executive’s termination of employment with the Company. 
 6.2 Activity Date. If Executive engages in Competitive Activity, the
“Activity Date” shall be the first date on which Executive engages in such Competitive Activity. 
 6.3 Repayment of
Proceeds. If Executive engages in Competitive Activity, then Executive shall be required to pay to Investors, within ten business days following the Activity Date, an amount equal to the excess, if any, of (A) the aggregate proceeds
Executive received upon the sale or other disposition of Executive’s Class E Units, over (B) the aggregate Cost of such Class E Units. 
  

	7.	Miscellaneous. 

 7.1 Transfers to Permitted
Transferees. Prior to the transfer of Class E Units to a Permitted Transferee (other than a transfer in connection with or subsequent to a Change in Control), the Executive shall deliver to Investors a written agreement of the proposed
transferee (a) evidencing such Person’s undertaking to be bound by the terms of this Agreement and (b) acknowledging that the Class E Units transferred to such Person will continue to be Class E Units for purposes of this Agreement in
the hands of such Person. Any transfer or attempted transfer of Class E Units in violation of any provision of this Agreement or the Securityholders Agreement shall be void, and Investors shall not record such transfer on its books or treat any
purported transferee of such Class E Units as the owner of such Class E Units for any purpose. 
 7.2 Deemed Transfer of Units. If
Investors shall deliver, at the time and place and in the amount and form provided in this Agreement, the consideration for the Class E Units to be repurchased in accordance with the provisions of this Agreement, then from and after such time, the
Person from whom such units are to be repurchased shall no longer have any rights as a holder of such units (other than the right to receive payment of such consideration in accordance with this Agreement), and such Class E Units shall be deemed
purchased in accordance with the applicable provisions hereof and Investors shall be deemed the owner and holder of such Class E Units, whether or not certificates therefor have been delivered as required by this Agreement. 
 7.3 Recapitalizations, Exchanges, Etc., Affecting Units. The provisions of this Agreement shall apply, to the full extent set forth herein with
respect to Class E Units, to any and all securities of Investors or any successor or assign of Investors (whether by merger, consolidation, sale of assets or otherwise) which may be issued in respect of, in exchange for, or in substitution of the
Class E Units, by reason of any dividend payable in units, issuance of units, combination, recapitalization, reclassification, merger, consolidation or otherwise. 
 7.4 Executive’s Employment by Investors. Nothing contained in this Agreement shall be deemed to obligate Investors or any subsidiary of Investors to employ the Executive in any capacity whatsoever or to
prohibit or restrict Investors (or any such subsidiary) from terminating the employment of the Executive at any time or for any reason whatsoever, with or without Cause. 

 7.5 Indemnification by Executive. Executive agrees to indemnify and hold harmless Investors
against any and all losses, liabilities, damages, judgments, fines, fees or expenses, including, without limitation, attorneys’ fees (for purposes of this Section 8.5, hereinafter “Losses”), incurred in connection with any
failure to withhold amounts relating to the Units acquired herein. In the event there is a determination within the meaning of Section 1313 of the Internal Revenue Code of 1986, as amended, that Investors properly failed to withhold amounts
relating to the Units acquired herein by Executive, Executive shall provide Investors with a Form 4669 or other suitable evidence of payment of taxes (which will include a cancelled check or a copy of the relevant signed tax return) with respect to
the receipt of any distributions relating to the Units acquired herein by Executive. 
 7.6 Binding Effect. The provisions of this
Agreement shall be binding upon and accrue to the benefit of the parties hereto and their respective heirs, legal representatives, successors and assigns; provided, however, that no Permitted Transferee shall derive any rights under this Agreement
unless and until such Permitted Transferee has executed and delivered to Investors a valid undertaking and becomes bound by the terms of this Agreement. 
 7.7 Amendment; Waiver. This Agreement may be amended only by a written instrument signed by the parties hereto. No waiver by any party hereto of any of the provisions hereof shall be effective unless set forth
in a writing executed by the party so waiving. 
 7.8 Governing Law. This Agreement shall be governed by and construed and enforced in
accordance with the internal laws of the State of Delaware applicable to contracts made and to be performed therein. 
 7.9
Jurisdiction. Any suit, action or proceeding with respect to this Agreement, or any judgment entered by any court in respect of any thereof, shall be brought in any court of competent jurisdiction in the State of Delaware, and each of
Investors and the members of the Executive Group hereby submits to the exclusive jurisdiction of such courts for the purpose of any such suit, action, proceeding or judgment. Each of the members of the Executive Group and Investors hereby
irrevocably waives any objections which it may now or hereafter have to the laying of the venue of any suit, action or proceeding arising out of or relating to this Agreement brought in any court of competent jurisdiction in the State of Delaware,
and hereby further irrevocably waives any claim that any such suit, action or proceeding brought in any such court has been brought in any inconvenient forum. 
 7.10 Notices. All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given when personally delivered, telecopied (with confirmation of receipt), one day after
deposit with a reputable overnight delivery service (charges prepaid) and three days after deposit in the U.S. Mail (postage prepaid and return receipt requested) to the address set forth below or such other address as the recipient party has
previously delivered notice to the sending party. 

 (a) If to Investors: 
 Michael Foods Investors, LLC 
 301 Carlson Parkway 
 Suite 400 
 Minnetonka, MN 55305 
 Attention: President 
 with copies to: 
 Thomas H. Lee Partners, L.P. 
 100 Federal Street 
 Boston, MA 02110 

					
		 	Attention:	 	Anthony DiNovi
		 		 	Kent Weldon
		 		 	Todd Abbrecht

 Facsimile: (617) 227-3514 
 and 
 Weil,
Gotshal & Manges LLP 
 100 Federal Street 
 Boston, MA 02110 
 Attention: Marilyn French 
 Facsimile: (617) 772-8333 
 (b) If to the Executive, to the address as shown on the unit register of Investors. 
 7.11 Rights Cumulative; Waiver. The rights and remedies of the Executive and Investors under this Agreement shall be cumulative and not exclusive
of any rights or remedies which either would otherwise have hereunder or at law or in equity or by statute, and no failure or delay by either party in exercising any right or remedy shall impair any such right or remedy or operate as a waiver of
such right or remedy, nor shall any single or partial exercise of any power or right preclude such party’s other or further exercise or the exercise of any other power or right. The waiver by any party hereto of a breach of any provision of
this Agreement shall not operate or be construed as a waiver of any preceding or succeeding breach and no failure by either party to exercise any right or privilege hereunder shall be deemed a waiver of such party’s rights or privileges
hereunder or shall be deemed a waiver of such party’s rights to exercise the same at any subsequent time or times hereunder. 
 7.12
Counterparts. This Agreement may be executed in separate counterparts (including by means of telecopied signature pages), and by different parties on separate counterparts each of which shall be deemed an original, but all of which shall
constitute one and the same instrument. 

 7.13 Integration. This Agreement and the documents referred to herein or delivered pursuant hereto
which form a part hereof contain the entire understanding of the parties with respect to the subject matter hereof and thereof. There are no restrictions, agreements, promises, representations, warranties, covenants or undertakings with respect to
the subject matter hereof other than those expressly set forth herein and therein. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter. 
 IN WITNESS WHEREOF, the parties have executed this Senior Management Unit Subscription Agreement as of the date first above written. 
  

			
	MICHAEL FOODS INVESTORS, LLC
		
	By:	 	 /s/ Mark Witmer

	Its:	 	Secretary
	
	EXECUTIVE
	
	 /s/ Thomas J. Jagiela

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