Document:

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                                                                   Exhibit 10.12

                                SENIOR MANAGEMENT
                                -----------------
                           UNIT SUBSCRIPTION AGREEMENT
                           ---------------------------

     THIS SENIOR MANAGEMENT UNIT SUBSCRIPTION AGREEMENT (this "Agreement") is
made as of November 20, 2003, by and among THL-MF Investors, LLC, a Delaware
limited liability company ("Investors") and Max R. Hoffmann (the "Executive").

          WHEREAS, the Executive is an employee and shareholder of M-Foods
Holding, Inc., a Delaware corporation (the "Company"), and one of several
persons who are or will be key employees of Investors or one or more of its
subsidiaries and who will hold interests in Investors (collectively with the
Executive, the "Management Investors");

          WHEREAS, the Company entered into an Agreement and Plan of Merger with
THL Food Products Co., a Delaware corporation, ("Merger Sub") and a wholly owned
subsidiary of THL Food Products Holding Co. ("Holdings"), dated as of October
10, 2003, as amended from time to time in accordance with its terms (the "Merger
Agreement"), pursuant to which Merger Sub shall be merged with and into the
Company (the "Acquisition"), in accordance with the terms and conditions of the
Merger Agreement, and the surviving corporation shall be the Company;

          WHEREAS, prior to the consummation of the transactions contemplated by
this Agreement and the Merger Agreement, the Executive is the record and
beneficial owner of the number of shares of the Company's common stock, par
value $0.01 per share (the "Shares"), set forth on Schedule I attached hereto;

          WHEREAS, on the terms and subject to the conditions hereof and
pursuant to Section 721(a) of the Internal Revenue Code, the Executive also
desires to contribute the Shares or other consideration in exchange for
Investors' Class A Units (the "Class A Units"), Class B Units (the "Class B
Units") and Class C Units (the "Class C Units"), in each case in the amounts and
as set forth on Schedule I attached hereto.

          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  Acquisition. The term "Acquisition" shall have the meaning set forth
in the preface.

     1.2  Agreement. The term "Agreement" shall have the meaning set forth in
the preface.

     1.3  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

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Closing Date (ii) 20% during the one-year period commencing on the first
anniversary of the Closing Date; (iii) 40% during the one-year period commencing
on the second anniversary of the Closing Date; (iv) 60% during the one-year
period commencing on the third anniversary of the Closing Date; (v) 80% during
the one-year period commencing on the fourth anniversary of the Closing Date;
and (vi) 100% on and after the fifth anniversary of the Closing Date.
Notwithstanding the foregoing, (A) immediately prior to and after the occurrence
of a Sale of the Company, such Applicable Percentage shall mean 100%, and (B) in
the case of a termination of employment described in Section 5.2(a)(iii)(B),
such Applicable Percentage in clauses (i), (ii) and (iii) shall be 0%, and in
clauses (iv) and (v) and (vi) shall be 40%, 75% and 100%, respectively.

     1.4  Board. The "Board" shall mean Investors' Management Committee.

     1.5  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 continued 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), after a written demand for substantial
performance is delivered to the Executive by the Board which specifically
identifies the manner in which the Board believes that the Executive has not
substantially performed the Executive's duties; (ii) the willful engaging by the
Executive in illegal conduct or gross misconduct which is materially and
demonstrably injurious to Investors or one of its subsidiaries; or (iii)
conviction of a felony or guilty or nolo contendere plea by the Executive with
respect thereto.

     For purposes of this provision, no act or failure to act, on the part of
the Executive, shall be considered "willful" unless it is done, or omitted to be
done, by the Executive in bad faith or without reasonable belief that the
Executive's action or omission was in the best interests of Investors or one of
its subsidiaries. Any act, or failure to act, based upon authority given
pursuant to a resolution duly adopted by the Board or upon the instructions of
the Chief Executive Officer (while the Executive does not serve as such) or
based upon the advice of counsel for Investors shall be conclusively presumed to
be done, or omitted to be done, by the Executive in good faith and in the best
interests of Investors and its subsidiaries. The cessation of employment of the
Executive shall not be deemed to be for Cause unless and until there shall have
been delivered to the Executive a copy of a resolution duly adopted by the
affirmative vote of not less than 75% of the entire membership of the Board
(excluding the Executive) at a meeting of the Board called and held for such
purpose (after reasonable notice is provided to the Executive and the Executive
is given an opportunity, together with counsel, to be heard before the Board)
finding that, in the good faith opinion of the Board, the Executive is guilty of
the conduct described in (i), (ii) or (iii) above, and specifying the
particulars thereof in detail.

     1.6  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 on an arm's-length
basis, pursuant to which (a) such party or parties, directly or indirectly,
acquire (whether by merger, stock purchase, recapitalization,

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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 cease to have the ability to elect, directly
or by virtue of their interests in Investors, a majority of the Board of
Directors of the Company.

     1.7  Class A Units. The term "Class A Units" shall have the meaning set
forth in the preface.

     1.8  Class B Units. The term "Class B Units" shall have the meaning set
forth in the preface.

     1.9  Class C Units. The term "Class C Units" shall have the meaning set
forth in the preface.

     1.10 Closing. The "Closing" for the sale and purchase of the Shares and the
contribution of Shares and other consideration in exchange for Units hereunder
shall occur immediately prior to the consummation of the Acquisition.

     1.11 Closing Date. The term "Closing Date" shall mean the date on which the
Closing occurs.

     1.12 Company. The term "Company" shall have the meaning set forth in the
preface.

     1.13 Cost. The term "Cost" shall mean, with respect to Units, the cash or
fair market value of property per unit contributed by the Executive (as
proportionately adjusted for all subsequent distributions of units and other
recapitalizations).

     1.14 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.

     1.15 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.

     1.16 Executive. The term "Executive" shall have the meaning set forth in
the preface.

     1.17 Executive Group. The term "Executive Group" shall have the meaning set
forth in Section 5.2(a).

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     1.18 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, with respect to its calculation of the Fair Market Value of
any class of Units, 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; provided further that if the Executive disagrees in
good faith with the Board's determination, the Executive shall promptly notify
the Company in writing of such disagreement, in which event an independent
appraiser, accountant or investment banking firm (the "Arbiter") selected by
mutual agreement of the Executive and the Board shall make a determination of
the fair market value thereof (disregarding any discount for minority interest
or marketability of units and assuming the prior conversion, exercise or
exchange of all securities convertible into or exchangeable or exercisable for
Units) solely by (i) reviewing a single written presentation timely made by each
of the Company and the Executive setting forth their respective resolutions of
the dispute and the bases therefor and (ii) accepting either the Executive's or
the Company's proposed resolution of the dispute. Promptly following the
Company's receipt of Executive's written notice of disagreement, the Company
shall make available to Executive all data (including reports of employees and
outside advisors) relied upon by the Board in making its determination. The
Executive's and the Company's written presentations must be submitted to the
Arbiter within 30 days of the Arbiter's engagement. The Arbiter shall notify the
Executive and the Company of its decision within 40 days of its engagement. The
party whose proposed resolution is not accepted shall pay all of the Arbiter's
fees and expenses. If the Executive's proposed resolution is accepted, the
Company also shall pay all of the Executive's reasonable out-of-pocket fees and
expenses (including reasonable fees and expenses of counsel and one appraiser,
accountant or investment banking firm) incurred in connection with the
arbitration. Each of the Company and the Executive agrees to execute, if
requested by the Arbiter, a reasonable engagement letter with the Arbiter.

     1.19 Financing Default. The term "Financing Default" shall mean any event
of default under (i) that certain Credit Agreement by and among Merger Sub,
Holdings and Bank of America, as administrative Agent, (ii) that certain Senior
Unsecured Term Loan Agreement by and among Merger Sub, Holdings and Bank of
America, as administrative agent and (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, or any other similar notes or instruments
that Michael Foods or its Subsidiaries may issue from time to time.

     1.20 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
(i) upon a Change in Control, the assignment to the Executive of any duties
inconsistent with the Executive's title and position (including status, offices
and reporting requirements), authority, duties or responsibilities, or any other
action by Investors or one of its subsidiaries (as applicable) which results in
a diminution in such 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 Investors or one of its subsidiaries promptly
after receipt of notice thereof given by the Executive; provided that after a

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Change in Control, Investors or one of its subsidiaries (as applicable) shall
have the flexibility to appoint the Executive to a reporting relationship
different from that which existed prior to the Change in Control, to make an
immaterial change in Executive's duties, or to change the Executive's title;
(ii) any failure by Investors or one of its subsidiaries (as applicable) to
provide Executive with the annual base salary Executive had previously received
or the failure by Investors or one of its subsidiaries (as applicable) to
increase such annual base salary each year after a Change in Control by an
amount which at least equals on a percentage basis, the mean average percentage
increase in base salary for all employees similarly situated during the two full
calendar years immediately preceding a Change in Control, other than an
isolated, insubstantial and inadvertent failure not occurring in bad faith and
which is remedied by Investors or one of its subsidiaries (as applicable)
promptly after receipt of notice thereof given by the Executive; (iii) the
failure of Investors or one of its subsidiaries (as applicable) upon a Change in
Control to (A) continue in effect any employee benefit plan, compensation plan,
welfare benefit plan or material fringe benefit plan in which Executive is
participating immediately prior to such Change in Control or the taking of any
action by Investors or one of its subsidiaries which would adversely affect
Executive's participation in or reduce Executive's benefits under any such plan,
unless Executive is permitted to participate in other plans providing Executive
with substantially equivalent benefits, or (B) provide Executive with paid
vacation in accordance with the most favorable past practice of Investors or one
of its subsidiaries as in effect for Executive immediately prior to such Change
in Control; (iv) after a Change in Control, any purported termination by
Investors or one of its subsidiaries of the Executive's employment otherwise
than for Cause, death or Disability; or (v) after a Change in Control, any
requirement that the Executive (A) be based anywhere more than 50 miles from the
office where the Executive is currently located or (B) travel on Investor or its
subsidiaries' business to an extent substantially greater than the Executive's
current travel obligations.

     1.21 Investors. The term "Investors" shall have the meaning set forth in
the preface.

     1.22 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.

     1.23 Management Investors. The term "Management Investors" shall have the
meaning set forth in the preface.

     1.24 Merger Agreement. The term "Merger Agreement" shall have the meaning
set forth in the preface.

     1.25 Merger Sub. The term "Merger Sub" shall have the meaning set forth in
the preface.

     1.26 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.

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     1.27 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.

     1.28 Public Offering. The term "Public Offering" shall have the meaning set
forth in the Securityholders Agreement.

     1.29 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 after the Closing Date.

     1.30 Sale of the Company. The term "Sale of the Company" shall have the
meaning set forth in the Securityholders Agreement.

     1.31 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.

     1.32 Securityholders Agreement. The term "Securityholders Agreement" shall
mean the Securityholders Agreement dated as of the Closing Date, among
Investors, the Management Investors, and the other securityholders party
thereto, as it may be amended or supplemented thereafter from time to time.

     1.33 Shares. The term "Shares" shall have the meaning set forth in the
preface.

     1.34 THL. The term "THL" means, collectively Thomas H. Lee Equity Fund V,
L.P. and its affiliates.

     1.35 Termination Date. The term "Termination Date" means the date upon
which Executive's employment with Investors and its subsidiaries is terminated.

     1.36 Transaction Documents. The term "Transaction Documents" means,
collectively, (i) the LLC Agreement, (ii) the Securityholders Agreement, (iii)
the 2003 Michael Foods Deferred Compensation Plan, (iv) each Unit Subscription
Agreement by and among Investors and each Management Investor, and (v) each of
the other agreements, documents and instruments executed in connection with the
Merger Agreement and the transactions contemplated thereby.

     1.37 Units. The term "Units" shall mean the Class A Units, Class B Units,
Class C Units and any other class of equity securities issued by Investors,
whether pursuant to this Agreement or any other arrangement.

     1.38 Unvested Percentage. The term "Unvested Percentage" shall mean the
result of one minus the Applicable Percentage.

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2.   Contribution.
     ------------

     2.1  Purchase and Sale. At closing, upon the terms and subject to the
conditions set forth in this Agreement, the Executive shall contribute the
Shares or other consideration as set forth on Schedule I attached hereto to
Investors in exchange for the Units set forth opposite the Executive's name on
Schedule I attached hereto. The Executive shall pay any purchase price payable
in cash with respect to the Units by check or wire transfer of immediately
available funds.

     2.2  Section 83(b) Election. With respect to the Units received by
Executive, within 30 days after the Closing, 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 and will
be correct and complete as of the Closing Date, with respect to himself:

          (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)  Brokers' Fees. The Executive has no liability or obligation to
     pay any fees or commissions to any broker, finder, or agent with respect to
     the transactions contemplated by this Agreement for which Investors could
     become liable or obligated.

          (d)  Capital Stock. The Executive holds of record and owns
     beneficially the number of Shares set forth next to his name on Schedule I
     attached hereto, free and clear of any restrictions on transfer (other than
     any restrictions under the Securities Act, state securities laws, or other
     Transaction Documents), taxes, security interests, options, warrants,
     purchase rights, contracts, commitments, equities, claims, and demands. In
     the

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     event the Executive owns the Shares in joint tenancy, the joint tenant of
     the Executive has executed this Agreement on the signature page attached
     hereto releasing any rights to the Shares and Executive has informed such
     joint tenant of the transactions set forth in this Agreement. The Executive
     is not a party to any option, warrant, purchase right, or other contract or
     commitment that could require the Executive to sell, transfer, or otherwise
     dispose of any capital stock of the Company (other than this Agreement).
     Except as set forth in other Transaction Documents, the Executive is not a
     party to any voting trust, proxy, or other agreement or understanding with
     respect to the voting of any capital stock of the Company. The Executive
     acknowledges and represents that the Buyer (as defined in the Merger
     Agreement) will not make any payment to Executive in connection with the
     Shares subject to this Agreement and that such shares will be cancelled
     upon consummation of the Acquisition.

     3.2  Units Unregistered. The Executive acknowledges and represents that
Executive has been advised by Investors that:

          (a)  the offer and sale of the Units have not been registered under
     the Securities Act;

          (b)  the Units must be held indefinitely and the Executive must
     continue to bear the economic risk of the investment in the Units unless
     the offer and sale of such Units are subsequently registered under the
     Securities Act and all applicable state securities laws or an exemption
     from such registration is available;

          (c)  there is no established market for the Units and it is not
     anticipated that there will be any public market for the Units in the
     foreseeable future;

          (d)  a restrictive legend in the form set forth below and the legends
     set forth in Section 7.2(a) and (b) of the Securityholders Agreement shall
     be placed on the certificates representing the 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 NOVEMBER 20, 2003, 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

          (e)  a notation shall be made in the appropriate records of Investors
     indicating that the 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 Units.

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     3.3  Representations of Investors. Investors represent to the Executive
that the statements contained in this Section 3.3 are correct and complete as of
the date of this Agreement and will be correct and complete as of the Closing
Date, with respect to itself:

          (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.

          (d)  Investment. Investors are not acquiring the Shares with a view to
     or for sale in connection with any distribution thereof within the meaning
     of the Securities Act.

          (e)  Capitalization. All of the issued and outstanding Units have been
     duly authorized and are validly issued. Except as set forth in the
     Transaction Documents, there are no outstanding or authorized options,
     warrants, purchase rights, subscription rights, conversion rights, exchange
     rights, or other contracts or commitments that could require Investors to
     issue, sell, or otherwise cause to become outstanding any of its Units.
     Except as set forth in the Transaction Documents, there are no outstanding
     or authorized stock appreciation, phantom stock, profit participation, or
     similar rights with respect to Investors. Except as set forth in the
     Transaction Documents, there are no voting trusts, proxies, or other
     agreements or understandings with respect to the voting of the capital
     stock of Investors.

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4.   Covenants of the Executive and Investors.
     ----------------------------------------

     4.1  Covenants. The Executive and/or Investors each agree as follows with
respect to the period between the execution of this Agreement and the Closing:

          (a)  General. The Executive and Investors each will use his or its
     commercially reasonable efforts to take all action and to do all things
     necessary, proper, or advisable in order to consummate and make effective
     the transactions contemplated by this Agreement (including satisfaction,
     but not waiver, of the closing conditions set forth in Section 5 below).

          (b)  Notification. Each of the parties hereto shall disclose to the
     other parties hereto in writing any material breach by such party of the
     representations and warranties of such party contained in Section 3 hereof
     promptly upon discovery thereof.

5.   Certain Sales Upon Termination of Employment.
     --------------------------------------------

     5.1  Put Option.

          (a)  If the Executive's employment with Investors and its subsidiaries
     terminates due to the Disability, death or Retirement of the Executive
     prior to the earlier of (i) a Public Offering or (ii) a Sale of the
     Company, for any Units issued 181 days or more prior to the date of
     termination of employment of the Executive, within 120 days after such date
     of termination of employment (or in the case of any Unit issued 180 days or
     less prior to such date of termination or at any time after such date of
     termination of employment, no earlier than 181 days and no later than 271
     days after the date of issuance of such Units), the Executive shall have
     the right, subject to the provisions of Section 6 hereof, to sell to
     Investors, and Investors shall be required to purchase (subject to the
     provisions of Section 6 hereof), on one occasion from the Executive and his
     Permitted Transferees, if applicable, all (but not less than all) of the
     number of Units then held by the Executive and such other number of Units
     held by the Executive's Permitted Transferees as the Executive may request
     (x) if such termination occurs prior to the date which is 18 months from
     the date of this Agreement the purchase price per Unit shall be the greater
     of (1) the Fair Market Value (measured as of the Termination Date) and (2)
     the Cost of such Units and (y) if such termination occurs after the date
     which is 18 months from the date of this Agreement the purchase price per
     Unit shall be the Fair Market Value (measured as of the Termination Date)
     of such Units.

          (b)  If the Executive desires to exercise its option to require
     Investors to repurchase Units pursuant to Section 5.1(a), the Executive
     shall send one written notice to Investors setting forth the intention of
     Executive and Permitted Transferees, if applicable, to collectively sell
     all Units pursuant to Section 5.1(a) within the period described above,
     which notice shall specify the number and class of Units to be sold and
     shall include the signature of the Executive and each Permitted Transferee
     desiring to sell Units. Subject to the provisions of Section 6.1, the
     closing of the purchase shall take place at the principal office of
     Investors on the later of the 30th day after the giving of such notice and
     the date that is 10 business days after the final determination of Fair

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     Market Value. Subject to the provisions of Section 6.1, the Executive shall
     deliver to Investors duly executed instruments transferring title to the
     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.

     5.2  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 Sale of the Company, or if the Executive
     engages in Competitive Activity (as defined in Section 7.1 of this
     Agreement), for any 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 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 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 Units then held by such member of the
     Executive Group after taking into account Units put to Investors under
     Section 5.1 of this agreement (it being understood that if Units of any
     class subject to repurchase hereunder may be repurchased at different
     prices, Investors may elect to repurchase only the portion of the Units of
     such class subject to repurchase hereunder at the lower price), at a price
     per unit equal to the applicable purchase price determined pursuant to
     Section 5.2(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;

               (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 5.2(a)(i) or Section 5.2(a)(ii);

provided that Investors' rights under this Section 5.2(a) shall not be available
in the event of the termination of Executive's employment by Investors or its
subsidiaries without Cause or by Executive for Good Reason, in either case
following a sale by Investors or its subsidiaries of substantially all of the
line of business in which Executive primarily performs his services.

          (b)  If Investors desire to exercise one of its options to purchase
     Units pursuant to this Section 5.2, Investors shall, not later than the
     expiration of the applicable period described for such purchase in Section
     5.2(a), send written notice to each member of the Executive Group of its
     intention to purchase Units, specifying the number of Units

                                       11

<PAGE>

     to be purchased (the "Call Notice"). Subject to the provisions of Section
     6, 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 6.1, 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
     5.2(a), the purchase price shall be (in each case after taking account of
     any prior purchases pursuant to Section 5.2(a)):

               (i)   if the Executive engages in any Competitive Activity (as
          defined in Section 7.1 of this Agreement), a price per unit equal to
          the lesser of (A) Fair Market Value (measured as of the Activity Date
          (as defined in Section 7.2 of this Agreement)) and (B) Cost;

               (ii)  in the case of a termination of employment described in
          Section 5.2(a)(i) or Section 5.2(a)(ii), (x) if such termination
          occurs prior to the date 18 months from the date of this Agreement,
          the purchase price for each Unit shall be the greater of (1) the Fair
          Market Value (measured as of the date of the Call Notice) and (2) the
          Cost of such Unit, and (y) if such termination occurs after the date
          which is 18 months from the date of this Agreement, the purchase price
          for each Unit shall be the Fair Market Value of such Unit (measured as
          of the date of the Call Notice);

               (iii) in the case of a termination of employment described in
          Section 5.2(a)(iii)(B), (i) if the number of Units to be purchased
          from the Executive Group by Investors is less than or equal to the
          total number of Units of such Class held by the Executive Group
          multiplied by the Unvested Percentage of such class, the purchase
          price for each Unit shall be the lesser of (x) the Fair Market Value
          (measured as of the date of the Call Notice) and (y) the Cost of such
          Unit (the "Unvested Unit Purchase Price"), and (ii) if the number of
          such Units exceeds the Unvested Percentage of such class, the purchase
          price for each Unit shall be (A) for a number of Units of such class
          equal to the product of (x) the Unvested Percentage and (y) the total
          number of Units of such class held by the Executive Group, the
          Unvested Unit Purchase Price, and (B) for the remainder of the Units
          of such class being repurchased, the Fair Market Value of such Unit
          (measured as of the date of the Call Notice); and

               (iv)  in the case of a termination of employment described in
          Section 5.2(a)(iii)(A), a price per unit equal to the lesser of (A)
          Fair Market Value (measured as of the date of the Call Notice) and (B)
          Cost.

     Notwithstanding anything to the contrary contained in this Agreement, if
the Fair Market Value of Units subject to a Call Notice is finally determined to
be an amount at least 10% greater

                                       12

<PAGE>

than the per Unit repurchase price for such Unit in the Call Notice, Investors
shall have the right to revoke the exercise of its option pursuant to this
Section 5.2 for all or any portion of the Units elected to be repurchased by it
by delivering notice of such revocation in writing to the Executive Group during
the ten-day period beginning on the date that Investors is given written notice
that the Fair Market Value of a Unit was finally determined to be an amount at
least 10% greater than the per Unit repurchase price set forth in the Call
Notice.

     Notwithstanding anything in this Section 5.2 to the contrary, in the event
that Investors purchases Units at Fair Market Value pursuant to the terms of
this Section 5.2 and within six months of the date of the determination of such
Fair Market Value both (A) a Sale of the Company or a Public Offering occurs and
(B) in connection with such transaction, the per share value of the Units
exceeds the per share purchase price paid by Investors to Executive under this
Section 5.2, the Executive shall be entitled to receive from Investors the
benefit of such higher valuation for the Units purchased. The excess of (x) the
net proceeds which the Executive would have received in such Sale of the Company
or Public Offering from the sale in such transaction of all Units repurchased by
Investors under this Section 5.2, less (y) the amount which the Executive
received from the purchase of such Units by Investors, shall be paid by
certified or cashier's check or wire transfer of funds to Executive upon
consummation of such transaction; provided that, Executive shall have no rights
under this paragraph if, in connection with the determination of Fair Market
Value of the repurchased Units, the Arbiter was used.

     5.3  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.

6.   Certain Limitations on Investors' Obligations to Purchase Units.
     ---------------------------------------------------------------

     6.1  Payment for Units. If at any time Investors elects or is required to
purchase any Units pursuant to Section 5, Investors shall pay the purchase price
for the 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 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

                                       13

<PAGE>

(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 an IPO of the Company or Holdings (or their successors) (to
the extent allowed by the underwriters of such IPO), or (iii) upon a Sale of the
Company 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 Sale of the Company 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.

7.   Noncompetition.
     --------------

     7.1  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 line of
business Executive is employed in by Investors or its subsidiaries (as
applicable), as such business is described in any employment or severance
agreement then in effect between Executive and Investors or one of its
subsidiaries or, if no such agreement is then in effect, as described on
Schedule II attached hereto (a "Competing Business"), it being understood and
agreed that Executive's activities shall not satisfy this clause (i) 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
attempts 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.

                                       14

<PAGE>

     7.2  Activity Date. If Executive engages in Competitive Activity, the
"Activity Date" shall be the first date on which Executive engages in such
Competitive Activity.

     7.3  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 Units, over (B) the aggregate Cost of such Units.

8.   Miscellaneous.
     -------------

     8.1  Transfers to Permitted Transferees. Prior to the transfer of Units to
a Permitted Transferee (other than a transfer in connection with or subsequent
to a Sale of the Company), 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 Units
transferred to such Person will continue to be Units for purposes of this
Agreement in the hands of such Person. Any transfer or attempted transfer of
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 Units as the owner of such Units
for any purpose.

     8.2  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 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 Units shall be deemed purchased in accordance with the
applicable provisions hereof and Investors shall be deemed the owner and holder
of such Units, whether or not certificates therefor have been delivered as
required by this Agreement.

     8.3  Recapitalizations, Exchanges, Etc., Affecting Units. The provisions of
this Agreement shall apply, to the full extent set forth herein with respect to
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 Units,
by reason of any dividend payable in units, issuance of units, combination,
recapitalization, reclassification, merger, consolidation or otherwise.

     8.4  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.

     8.5  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

                                       15

<PAGE>

acquired herein by the Management Investors. 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.
To the extent either Investors and/or any of its affiliates is entitled to any
tax deduction with respect to the issuance of Units, (i) Investors shall
specially allocate such deduction to the Executive and/or (ii) the Company shall
pay, or cause any affiliate to pay, as the case may be, Executive an amount
equal to 40% of such deduction, such amount to be grossed up to reflect any
additional deduction to the Company and/or any of its affiliates (as the case
may be) provided that if any Cash Deferral Condition exists at the time such
payment is required, such payment shall be deferred until no such Cash Deferral
Condition exists. Each of Executive and Investors shall notify the other (in a
manner described in Section 8.10 of this Agreement) within 20 days of first
receiving notice of an audit or other proceeding being conducted by the Internal
Revenue Service or any state or local taxing authority relating to the Units
acquired herein by the Management Investors, and both Executive and Investors
shall assist each other during the course of such audit or other proceeding to
the extent that such assistance is reasonably requested.

     8.6  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.

     8.7  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.

     8.8  Governing Law. This Agreement shall be governed by and construed and
enforced in accordance with the laws of the State of Delaware applicable to
contracts made and to be performed therein.

     8.9  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.

     8.10 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

                                       16

<PAGE>

(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

               THL-MF Investors, LLC
               c/o Thomas H. Lee Partners, L.P.
               75 State Street
               Boston, MA 02109
               Attention: Anthony DiNovi
                          Kent Weldon
                          Todd Abbrecht
               Facsimile: (617) 227-3514

          with copies to:

               Weil, Gotshal & Manges LLP
               100 Federal Street
               Boston, MA 02110
               Attention: James Westra
               Facsimile: (617) 772-8333

          (b)  If to the Executive, to the address as shown on the unit register
     of Investors.

     8.11 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.

     8.12 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.

     8.13 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

                                       17

<PAGE>

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.

                                    * * * * *

                                       18

<PAGE>

     IN WITNESS WHEREOF, the parties have executed this Management Stock
Purchase and Unit Subscription Agreement as of the date first above written.

                                        THL-MF INVESTORS, LLC

                                        By:  /s/ John D. Reedy
                                           -------------------------------------
                                        Its:
                                            ------------------------------------

                                        EXECUTIVE

                                         /s/ Max R. Hoffman
                                        ----------------------------------------
                                        Max R. Hoffmann

                                       19

<PAGE>

                                   SCHEDULE I

--------------------------------------------------------------------------------
                                Other           Class A    Class B     Class C
Name                   Shares   Consideration   Units      Units       Units
--------------------------------------------------------------------------------
Max R. Hoffmann        627.53           - 0 -   6,863.43   10,136.57   17,000.00
--------------------------------------------------------------------------------

                                       20

<PAGE>

                                   SCHEDULE II

Competing Business: Production, distribution or sales of eggs or egg products,
refrigerated potato products or branded cheese products

                                       21

<PAGE>

                                                                       EXHIBIT A

                       ELECTION TO INCLUDE UNITS IN GROSS
                     INCOME PURSUANT TO SECTION 83(b) OF THE
                              INTERNAL REVENUE CODE
                     ---------------------------------------

     The undersigned purchased units (the "Units") of THL-MF Investors, LLC
("Investors") on November 20, 2003. The undersigned desires to make an election
to have the Units taxed under the provision of Section 83(b) of the Internal
Revenue Code of 1986, as amended ("Code Section 83(b)"), at the time the
undersigned purchased the Units.

          Therefore, pursuant to Code Section 83(b) and Treasury Regulation
Section 1.83-2 promulgated thereunder, the undersigned hereby makes an election,
with respect to the Units (described below), to report as taxable income for
calendar year 2003 the excess, if any, of the Units' fair market value on
November 20, 2003 over the purchase price thereof.

          The following information is supplied in accordance with Treasury
Regulation Section 1.83-2(e):

          1.   The name, address and social security number of the undersigned:

               Max Roland Hoffmann
               14520 Wellington Road
               Wayzata, MN 55391
               SSN: ###-##-####

          2.   A description of the property with respect to which the election
is being made: 6,863.43 Class A Units; 10,136.57 Class B Units and 17,000.00
Class C Units.

          3.   The date on which the property was transferred: November 20,
2003. The taxable year for which such election is made: calendar year 2003.

          4.   The restrictions to which the property is subject: The Units are
subject to a time-based vesting schedule. If the undersigned ceases to be
employed by Investors or any of its subsidiaries under certain circumstances,
all or a portion of the Units may be subject to repurchase by Investors at a
price per Unit equal to the lesser of (x) fair market value (measured as of the
date of such repurchase) and (y) cost (except for Class A Units, which are
subject to repurchase at a price per Unit equal to the fair market value
(measured as of the date of such repurchase)). The Units are also subject to
transfer restrictions.

          5.   The fair market value on November 20, 2003 of the property with
respect to which the election is being made, determined without regard to any
lapse restrictions:

               Class A Units $686,343.00
               Class B Units $20,273.14
               Class C Units $34,000.00

          6.   The amount paid for such property:

               Class A Units $686,343.00
               Class B Units $20,273.14
               Class C Units $34,000.00

<PAGE>

          A copy of this election has been furnished to the Secretary of
Investors pursuant to Treasury Regulations Section 1.83-2(e)(7).

Dated: ________, 2003
                                        ----------------------------------------
                                                         [Name]

                                       23<PAGE>

                                                                   Exhibit 10.13

                                                               Execution Version

                                     FORM OF
              THL FOOD PRODUCTS HOLDING CO. 2003 STOCK OPTION PLAN
                          STOCK OPTION AWARD AGREEMENT
              ----------------------------------------------------

               THIS STOCK OPTION AWARD AGREEMENT (the "Agreement") is made
effective as of the 20th day of November, 2003, between THL Food Products
Holding Co., a Delaware corporation (hereinafter called the "Company"), and
Gregg Ostrander (hereinafter called the "Participant"):

                                R E C I T A L S:
                                - - - - - - - -

               WHEREAS, the Company has adopted the THL Food Products Holding
Co. 2003 Stock Option Plan (the "Plan"), which Plan is incorporated herein by
reference and made a part of this Agreement. Capitalized terms not otherwise
defined herein shall have the same meaning as in the Plan; and

               WHEREAS, the Committee has determined that it would be in the
best interests of the Company and its stockholders to grant the option provided
for herein to the Participant pursuant to the Plan and the terms set forth
herein.

               NOW THEREFORE, in consideration of the mutual covenants
hereinafter set forth, the parties agree as follows:

     1.   Grant of the Option. The Company hereby grants to the Participant the
right and option to purchase, on the terms and conditions hereinafter set forth,
all or any part of an aggregate of 6,409.09 Option Shares, subject to adjustment
as set forth in the Plan. The per share purchase price of the Option Shares
subject to the Option (the "Exercise Price") shall be $626.99. The Option is
intended to be a non-qualified stock option, and is not intended to be treated
as an option that complies with Section 422 of the Internal Revenue Code of
1986, as amended.

     2.   Vesting. At any time, the portion of the Option that has become vested
and exercisable as described in this Section 2 is hereinafter referred to as the
"Vested Portion."

          (a)  Subject to the Participant's continued employment with the
Company and to paragraphs (b) and (c) of this Section 2, the Option shall vest
over a five year period, in five equal installments, with twenty percent (20%)
of the Option vesting on the first anniversary of the date hereof and an
additional twenty percent (20%) of the Option vesting on each successive
anniversary of the date hereof until such time as the Option is fully vested and
exercisable.

          (b)  Termination of Employment. If the Participant's employment with
the Company is terminated for any reason, the Option shall, to the extent not
then vested, be cancelled by the Company without consideration and only the
Vested Portion of the Option shall remain exercisable for the period set forth
in Section 3(a). The Vested Portion of the Option not exercised within the
period set forth in Section 3(a) shall immediately expire.

<PAGE>

          (c)  Sale of the Company. Notwithstanding any other provisions of this
Agreement to the contrary, in the event of a Sale of the Company, the Option
shall, to the extent not previously cancelled, immediately become vested and
exercisable immediately prior to a Sale of the Company.

     3.   Exercise of Option.

          (a)  Period of Exercise. Subject to the provisions of the Plan and
this Agreement, the Participant may exercise all or any part of the Vested
Portion of the Option at any time prior to the earliest to occur of:

               (i)   the tenth anniversary of the date hereof;

               (ii)  ninety days following the date of the Participant's
     termination of employment by the Company without Cause (other than as a
     result of death or Disability), or by the Participant for Good Reason or as
     a result of death, Disability or Retirement;

               (iii) a Sale of the Company; and

               (iv)  the date of the Participant's termination of employment by
     the Company for Cause or by the Participant without Good Reason.

          (b)  Method of Exercise.

               (i)   Subject to Section 3(a), the Vested Portion of the Option
     may be exercised by delivering to the Company at its principal office
     written notice of intent to so exercise. Such notice shall specify the
     number of Option Shares for which the Option is being exercised and shall
     be accompanied by payment in full of the aggregate Exercise Price. The
     payment of the Exercise Price shall be made (x) in cash, (y) in Option
     Shares that have been owned by the Participant for at least six months,
     such Option Shares to be valued at their Fair Market Value as of the date
     of exercise, or (z) after a Public Offering, through simultaneous sales of
     underlying Option Shares by brokers.

               (ii)  Notwithstanding any other provision of the Plan or this
     Agreement to the contrary, the Option may not be exercised prior to the
     completion of any registration or qualification of the Option or the Option
     Shares that is required to comply with applicable state and federal
     securities law or any ruling or regulation of any governmental body or
     national securities exchange that the Committee shall in its sole
     discretion determine in good faith to be necessary or advisable.

               (iii) Upon the Company's determination that the Option has been
     validly exercised as to any of the Option Shares, the Company shall issue
     certificates in the Participant's name for such Option Shares. However, the
     Company shall not be liable to the Participant for damages relating to any
     delays in issuing the certificates to him, any loss of the certificates, or
     any mistakes or errors in the issuance of the certificates or in the
     certificates themselves.

                                        2

<PAGE>

               (iv)  The Company shall be entitled, if necessary or
     desirable, to withhold from any Participant, from any amounts due and
     payable by the Company to such Participant (or secure payment from such
     Participant in lieu of withholding), the amount of any withholding or other
     tax due from the Company with respect to any securities issuable under the
     Options, and the Company may defer the exercise of the Options or the
     issuance of the Option Shares thereunder unless indemnified to its
     satisfaction.

               (v)   As a condition to any exercise of an Option, a Participant
     will permit the Company to deliver to him or her all financial and other
     information regarding the Company and its Subsidiaries which it believes
     necessary to enable such Participant to make an informed investment
     decision.

     4.   Certain Sales Upon Termination of Employment. If the Participant's
employment is terminated under certain circumstances, the Participant shall have
a limited right to sell to the Company (pursuant to Section 4(a) below), and the
Company shall have certain rights (pursuant to Section 4(b) below) to purchase
from the Participant either (i) the Vested Portion of Participant's Options or
(ii) Option Shares acquired pursuant to the exercise of all or any part of the
Vested Option, as follows:

          (a)  Put Right.

               (i)   If the Participant's employment with the Company and
     Subsidiaries terminates due to the Disability or death of the Participant
     prior to the earlier of (x) a Public Offering or (y) a Sale of the Company,
     for (A) the Vested Portion of all Options and (B) all Option Shares, within
     120 days after such termination of employment the Participant shall have
     the right, subject to the provisions of Section 5 hereof to sell to the
     Company and the Company shall be required to purchase (subject to the
     provisions of Section 5 hereof), on one occasion from the Participant and
     his Permitted Transferees, if applicable, all (but not less than all) of
     (1) Participant's Vested Portion of all Options and (2) the number of
     Option Shares then held by the Participant and such other number of Option
     Shares or Vested Portions of Option Shares, to the extent transferable,
     held by the Participant's Permitted Transferees as the Participant may
     request at a price per Option or Option Share equal to (i) in the case of
     the purchase of Options, the difference between the Fair Market Value of
     the Option Share underlying the Option (measured as of the delivery of the
     notice referred to in Section 4(a)(ii)) and the Exercise Price of such
     Option Shares and (ii) in the case of the purchase of Option Shares, (x) if
     such termination occurs prior to the date which is 18 months from the date
     of this Agreement, the greater of the Fair Market Value of such Option
     Share (measured as of the delivery of the notice referred to in Section
     4(a)(ii)) and the Cost of such Option Share and (y) if such termination
     occurs after the date which is 18 months from the date of this Agreement,
     the Fair Market Value of such Option Share. If the Participant's employment
     with the Company and Subsidiaries terminates due to Retirement of the
     Participant prior to (x) a Public Offering or (y) a Sale of the Company,
     for all Option Shares issued 181 days or more prior to the date of
     termination of employment of the Participant, within 90 days after such
     date of termination of employment (or in the case of Option Shares issued
     180 days or less

                                        3

<PAGE>

     prior to such date of termination or at any time after such date of
     termination of employment, no earlier than 181 days and no later than 271
     days after the date of issuance of such Option Shares), the Participant
     shall have the right, subject to the provisions of Section 5 hereof, to
     sell to the Company and the Company shall be required to purchase (subject
     to the provisions of Section 5 hereof), on one occasion from the
     Participant and his Permitted Transferees, if applicable, all (but not less
     than all) of the Option Shares then held by the Participant and such other
     number of Option Shares held by the Participant's Permitted Transferees as
     the Participant may request at a price per Option Share equal to the Fair
     Market Value of such Option Share (measured as of the delivery of the
     notice referred to in Section 4(a)(ii)).

               (ii)  If the Participant desires to exercise his or her option to
     require the Company to repurchase Options and/or Option Shares pursuant to
     Section 4(a), the Participant shall send one written notice to the Company
     setting forth the intention of Participant and Permitted Transferees, if
     applicable, to collectively sell all Options and/or Option Shares pursuant
     to Section 4(a) within the period described above, which notice shall
     specify the number of Option Shares, or in the case of a sale of Options,
     the number of Option Shares underlying such Options, to be sold and shall
     include the signature of the Participant and each Permitted Transferee
     desiring to sell Options and Option Shares. Subject to the provisions of
     Section 5, the closing of the purchase shall take place at the principal
     office of the Company on the 60th day after the giving of such notice.
     Subject to the provisions of Section 5, the Participant and each Permitted
     Transferee, as applicable, shall deliver to the Company duly executed
     instruments transferring any and all rights, title and interest to and in
     the Options and Option Shares to the Company, against payment of the
     appropriate purchase price by cashier's or certified check payable to the
     Participant or by wire transfer of immediately available funds to an
     account designated by the Participant.

          (b)  Call Right.

               (i)   If the Participant's employment with the Company and/or its
     Subsidiaries terminates for any of the reasons set forth in clauses (A),
     with the exception of termination due to Participant's Retirement, or (C)
     below prior to a Sale of the Company, within 120 days after such date, the
     Company shall have the right and option to purchase, and the Participant
     and the Participant's Permitted Transferees (hereinafter referred to as the
     "Participant Group") shall be required to sell to the Company, any or all
     of such Option Shares then held by such member of the Participant Group, at
     a price per Option Share equal to the applicable purchase price determined
     pursuant to Section 4(b)(iii). If the Participant's employment with the
     Company or any of its Subsidiaries terminates for any of the reasons set
     forth in clause (B) or due to Participant's Retirement, for any Option
     Shares issued 180 days or more prior to the date of Participant's
     termination of employment, within 90 days after such date (or in the case
     of Option Shares 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 Option Shares), the Company shall have the
     right and option to purchase, and the Participant and the Participant's
     Permitted Transferees (hereinafter referred to as the "Participant Group")
     shall be required to sell to the Company, any or

                                        4

<PAGE>

     all of such Option Shares then held by such member of the Participant
     Group, at a price per Option Share equal to the applicable purchase price
     determined pursuant to Section 4(b)(iii):

                     (A)  if the Participant's active employment with the
          Company and/or its Subsidiaries is terminated due to the Disability,
          death or Retirement of the Participant;

                     (B)  if the Participant's active employment with the
          Company, and/or its Subsidiaries is terminated by the Company, and/or
          its Subsidiaries without Cause or by the Participant for Good Reason;

                     (C) if the Participant's active employment with the Company
          and/or its Subsidiaries is terminated (x) by the Company or any of its
          Subsidiaries for Cause or (y) by the Participant for any other reason
          not set forth in Section 4(b)(i)(A) or Section 4(b)(i)(B);

provided that the Company's rights under this Section 4(b) shall not be
available in the event of the termination of Participant's employment by the
Company or its Subsidiaries without Cause or by Participant for Good Reason, in
either case following a sale by the Company or its subsidiaries of substantially
all of the lines of business in which the Participant primarily performs his
services.

          If the Participant engages in "Competitive Activity" (as defined in
     Section 6 of this Agreement), the Company shall have the right and option
     to purchase within 90 days after such date as the Company receives notice
     that the Participant has engaged in Competitive Activity, and the
     Participant Group shall be required to sell to the Company, any or all of
     such Option Shares then held by such member of the Participant Group, at a
     price per Option Share equal to the applicable purchase price determined
     pursuant to Section 4(b)(iii)(A); provided that in the case of Option
     Shares issued 180 days or less prior to the date that the Company receives
     notice of Participant's engagement in Competitive Activity, the Participant
     shall be required to sell such Option Shares no earlier than 181 days and
     no later than 271 days after the date of issuance of such Option Shares.

               (ii)  If the Company desires to exercise one of its options to
     purchase Option Shares pursuant to this Section 4(b), the Company shall,
     not later than the expiration of the applicable period described for such
     purchase in Section 4(b)(i), send written notice to each member of the
     Participant Group of its intention to purchase Option Shares, specifying
     the number of Option Shares 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 the Company on the 60th day after the giving of
     the Call Notice. Subject to the provisions of Section 5, the Participant
     shall deliver to the Company duly executed instruments transferring title
     to Option Shares to the Company, against payment of the appropriate
     purchase price by cashier's or certified

                                        5

<PAGE>

     check payable to the Participant or by wire transfer of immediately
     available funds to an account designated by the Participant.

               (iii) In the event of a purchase by the Company pursuant to
     Section 4(b)(i), the purchase price shall be (in each case after taking
     account of any prior purchases pursuant to Section 4(b)(i)):

                     (A)  if the Participant engages in "Competitive Activity"
          (as defined in Section 6 of this Agreement), a price per Option Share
          equal to the lesser of (A) Fair Market Value (measured as of the
          "Activity Date" (as defined in Section 6 of this Agreement)) and (B)
          Cost;

                     (B)  in the case of a termination of employment described
          in Section 4(b)(i)(A), Section 4(b)(i)(B), (x) if such termination
          occurs prior to the date which is 18 months from the date of this
          Agreement, the greater of the Fair Market Value of such Option Shares
          and Cost and (y) if such termination occurs after the date which is 18
          months from the date of this Agreement, the Fair Market Value of such
          Option Shares (measured as of the date of the Call Notice); and

                     (C)  in the case of a termination of employment described
          in Section 4(b)(i)(C), a price per Option Share equal to the lesser of
          (A) Fair Market Value (measured as of the date of the Call Notice) and
          (B) Cost.

               Notwithstanding anything in this Section 4(b) to the contrary, in
     the event that the Company purchases Option Shares at Fair Market Value
     pursuant to the terms of this Section 4(b) and within six months of the
     date of the determination of such Fair Market Value both (A) a Sale of the
     Company or a Public Offering occurs and (B) in connection with such
     transaction, the per share value of the Option Shares exceeds the per share
     purchase price paid by the Company to Participant under this Section 4(b),
     the Participant shall be entitled to receive from the Company the benefit
     of such higher valuation for the Option Shares purchased. The excess of (x)
     the net proceeds which the Participant would have received in such Sale of
     the Company or Public Offering from the sale in such transaction of all
     Option Shares repurchased by the Company under this Section 4(b), less (y)
     the amount which the Participant received from the purchase of such Option
     Shares by the Company, shall be paid by certified or cashier's check or
     wire transfer of funds to the Participant upon consummation of such
     transaction.

     5.   Certain Limitations on the Company's Obligations to Purchase Option
Shares.

          (a)  Payment of Shares. If at any time the Company elects or is
required to purchase any Option Shares pursuant to Section 4, the Company shall
pay the purchase price for the Option Shares it purchases (i) first, by
offsetting indebtedness, if any, owing from the Participant to Investors or the
Company (which indebtedness shall be applied pro rata against the proceeds
receivable by each member of the Participant Group receiving consideration in
such repurchase) and (ii) then, by the Company's delivery of a check or wire
transfer of

                                        6

<PAGE>

immediately available funds for the remainder of the purchase price, if any,
against delivery of the certificates or other instruments representing the
Option Shares 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
the Company or any of its Subsidiaries or any of its or their property or (B)
after giving effect thereto, in a Financing Default, or (C) if the Committee
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 the Company's delivery of
either (z) subordinated promissory notes of the Company (the "Notes") with a
principal equal to the balance of the purchase price or, at the option of the
Company, (y) preferred shares of the Company (the "Preferred Shares") with a
liquidation preference equal to the balance of the purchase price; which Notes
or Preferred Shares shall bear interest or accrue yield, as appropriate,
annually at the "prime rate" published in The Wall Street Journal on the date of
issuance, which interest or yield, as appropriate, shall be payable at maturity
or upon payment by the Company of dividends on Company capital stock [for the
purpose of clarity, distributions made by the Company pursuant to Section
7.06(f) of that certain Credit Agreement, dated November 20, 2003, by and among
the Company and the other parties named therein, shall not be deemed a payment
by the Company of dividends on Company capital stock as described in this
sentence). Any such Notes or Preferred Shares issued shall be promptly paid (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,
Inc., a Delaware corporation (or their successors) (to the extent allowed by the
underwriters of such Public Offering), or (iii) upon a Sale of the Company from
net cash proceeds, if any, payable to the Company or its stockholders; to the
extent that sufficient net cash proceeds are not so payable, the Notes or
Preferred Shares, as applicable, shall be cancelled in exchange for such
non-cash consideration received by note-holders or shareholders, as applicable,
in the Sale of the Company having a fair market value equal to the principal of
and accrued interest on the Notes or the accrued yield on the Preferred Shares,
as applicable. If interest or yield is required to be paid on any Notes or
Preferred Shares prior to maturity and any Cash Deferral Conditions exist, such
interest or yield may be cumulated and accrued until and to the extent that such
prohibition no longer exists.

     6.   Competitive Activity.

          (a)  Competitive Activity. Participant 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 Participant's employment with
Investors, the Company, and/or its Subsidiaries terminates, (i) Participant, 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 engages in the production, distribution
or sales of eggs or egg products, refrigerated potato products or branded cheese
products (as applicable) (a "Competing Business"), it being understood and
agreed that Participant's activities shall not satisfy this clause (i) where
Participant is employed by a person, firm, partnership, corporation, limited
liability company, or other entity engaged in a variety of activities, including
the Competing

                                        7

<PAGE>

Business, and Participant is not engaged in or responsible for the Competing
Business of such entity. Participant 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 Participant has no active
participation in the business of such entity, except to the extent permitted
above; or (ii) Participant (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 Participant, (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
Participant's termination of employment with the Company.

          (b)  Activity Date. If Participant engages in Competitive Activity,
the "Activity Date" shall be the first date on which Participant engages in such
Competitive Activity.

          (c)  Repayment of Proceeds. If Participant engages in Competitive
Activity, then Participant shall be required to pay to the Company, within ten
business days following the Activity Date, an amount equal to the excess, if
any, of (A) the aggregate proceeds Participant received upon the sale or other
disposition of Participant's Option Shares, over (B) the aggregate Cost of such
Option Shares, it being understood that in the event that the aggregate proceeds
Participant received upon the sale or other distribution of Participant's Option
Shares consisted of cash (or have since been converted into cash), such
repayment to the Company will be made first in cash up to the amount of such
cash proceeds with the remainder to be paid to the Company by reducing the
outstanding principal amount of any non-cash consideration received by
Participant.

     7.   Take-Along Rights on Sale of the Company.

          (a)  If Investors elect to consummate a transaction constituting a
Sale of the Company, Investors shall notify the Company and Participant in
writing of that election, Participant will consent to and raise no objections to
the proposed transaction, and Participant and the Company will take all other
actions reasonably necessary or desirable to cause the consummation of such Sale
of the Company on the terms proposed by Investors. Without limiting the
foregoing, (i) if the proposed Sale of the Company is structured as a sale of
assets or a merger or consolidation, or otherwise requires approval of
Participant, Participant and all of Participant's Permitted Transferees will
vote or cause to be voted all Option Shares, whether granted pursuant to this
Plan or otherwise, that he holds or with respect to which Participant has the
power to direct the voting and which are entitled to vote on such transaction in
favor of such transaction and will waive any appraisal rights which he may have

                                        8

<PAGE>

in connection therewith and (ii) if the proposed Sale of the Company is
structured as or involves a sale or redemption of Option Shares, Participant
will agree to sell his Option Shares in such Sale of the Company on the terms
and conditions approved by Investors, and Participant will execute any merger,
asset purchase, security purchase, recapitalization or other sale agreement
approved by Investors in connection with such Sale of the Company.

          (b)  The obligations of Participant with respect to the Sale of the
Company are subject to the satisfaction of the following conditions: (i) upon
the consummation of the Sale of the Company, all of the holders of Option Shares
shall receive the same form and amount of consideration per share or amount of
Option Shares, or if any holders of Option Shares are given an option as to the
form and amount of consideration to be received, all holders of Option Shares
will be given the same option and (ii) all holders of Options, without regard to
vesting or exercise restrictions, will be given an opportunity to either (A)
exercise such Options, prior to the consummation of the Sale of the Company and
participate in such sale as holders of Option Shares or (B) upon the
consummation of the Sale of the Company, receive, in exchange for such Options,
the same form and amount of consideration per Option Share as received by all
other holders of Option Shares in connection with the Sale of the Company, less
the exercise price per share of such Options which must be exercised to acquire
Option Shares, it being understood that the exercise price shall be paid first
with any cash consideration to be distributed to Participant in connection with
the Sale of the Company.

          (c)  Participant will bear his pro-rata share (based upon the relative
amount of Option Shares sold) of the reasonable and customary costs of any sale
of Option Shares pursuant to a Sale of the Company to the extent such costs are
incurred for the benefit of Participant and are not otherwise paid by the
Company or the acquiring party. Costs incurred by or on behalf of Participant
for his sole benefit will not be considered costs of the transaction hereunder.

     8.   Tag-Along Rights.

          (a)  Prior to making any Transfer of Common Stock (other than a
Transfer described in Section 8(b)), Investors shall give at least 30 days prior
written notice to Participant and the Company, which notice (for purposes of
this Section 8, the "Sale Notice") shall identify the type and amount of Common
Stock to be sold (for purposes of this Section 8, the "Offered Securities"),
describe in reasonable detail the terms and conditions of such proposed Transfer
and identify each prospective Transferee. Participant may, within 15 days of the
receipt of the Sale Notice, give written notice (the "Tag-Along Notice") to
Investors that Participant wishes to participate in such proposed Transfer upon
the terms and conditions set forth in the Sale Notice, which Tag-Along Notice
shall specify the Option Shares such Participant desires to include in such
proposed Transfer; provided, however, that (1) none of Participant's rights to
Option Shares subject to the exercise of Options shall be entitled to be sold
pursuant to this Section 8(a) unless such Options have fully vested and the
Options have been exercised and (2) to exercise its tag-along rights hereunder,
Participant must agree to make to the Transferee the same representations,
warranties, covenants, indemnities and agreements as Investors agrees to make in
connection with the Transfer of the Offered Securities (except that in the case
of representations and warranties pertaining specifically to, or covenants made
specifically by, Investors, Participant shall make comparable

                                        9

<PAGE>

representations and warranties pertaining specifically to (and, as applicable,
covenants by) himself), and must agree to bear his ratable share (which shall be
proportionate based on the value of Option Shares and Offered Securities that
are Transferred but shall not exceed the amount of proceeds received in
connection with such Transfer) of all liabilities to the Transferees arising out
of representations, warranties and covenants (other than those representations,
warranties and covenants that pertain specifically to a given stockholder, who
shall bear all of the liability related thereto), indemnities or other
agreements made in connection with the Transfer. Each stockholder will bear (x)
its or his own costs of any sale of shares of Common Stock pursuant to this
Section 8(a) and (y) its or his pro-rata share (based upon the relative amount
of shares of Common Stock sold) of any of the other costs of any reasonable and
customary sale of shares of Common Stock pursuant to this Section 8(a) to the
extent such costs are incurred for the benefit of all stockholders and are not
otherwise paid by the Transferee.

          If Participant does not give Investors a Tag-Along Notice prior to the
expiration of the 15-day period for giving Tag-Along Notices with respect to the
Transfer proposed in the Sale Notice, then (notwithstanding the first sentence
of this Section 8(a)) Investors may Transfer such Offered Securities on the
terms and conditions set forth, to or among any of the Transferees identified
(or Affiliates of Transferees identified), in the Sale Notice at any time within
180 days after expiration of the 15-day period for giving Tag-Along Notices with
respect to such Transfer. Any such Offered Securities not Transferred by
Investors during such 180-day period will again be subject to the provisions of
this Section 8(a) upon subsequent Transfer. If Participant gives Investors a
timely Tag-Along Notice, then Investors shall use all reasonable efforts to
obtain the agreement of the prospective Transferee(s) to the participation of
Participant in any contemplated Transfer, on the same terms and conditions as
are applicable to the Offered Securities, and Investors shall not transfer any
of its shares to any prospective Transferee if such prospective Transferee(s)
declines to allow the participation of Participant. If the prospective
Transferee(s) is unwilling or unable to acquire all of the Offered Securities
and all of the Option Shares specified in a timely Tag-Along Notice upon such
terms, then Investors may elect either to cancel such proposed Transfer or to
allocate the maximum number of shares of Common Stock that the prospective
Transferees are willing to purchase (the "Allocable Shares") among Investors,
Participant and such other participants giving timely Tag-Along Notices as
follows:

               (i)   each participating Person (including Investors) shall be
     entitled to sell a number of shares of Common Stock (not to exceed, for
     Participant, the number of shares of Common Stock identified in such
     Participant's Tag-Along Notice) equal to the product of (A) the number of
     Allocable Shares of Common Stock and (B) a fraction, the numerator of which
     is such stockholder's Ownership Percentage of shares of Common Stock and
     the denominator of which is the aggregate Ownership Percentage for all
     participating Persons; and

               (ii)  if after allocating the Allocable Shares of Common Stock to
     such stockholders in accordance with clause (i) above, there are any
     Allocable Shares that remain unallocated, then they shall be allocated (in
     one or more successive allocations on the basis of the allocation method
     specified in clause (i) above) among Investors

                                       10

<PAGE>

     and each Participant that has elected in its Tag-Along Notice to sell a
     greater number of shares of Common Stock than previously has been allocated
     to it pursuant to clause (i) and this clause (ii) (all of whom (but no
     others) shall, for purposes of clause (i) above, be deemed to be the
     participating Persons) until all such Allocable Shares have been allocated
     in accordance with this clause (ii).

          (b)  Excluded Transfers. The rights and restrictions contained in
Section 8(a) shall not apply with respect to any of the following Transfers of
shares of Common Stock:

               (i)   any Transfer of Common Stock by Investors in a Public
     Offering;

               (ii)  any Transfer of Common Stock to and among the members of
     Investors and the partners (including limited partners), securityholders,
     employees, affiliates or family group of such members; and

               (iii) any Transfer of Common Stock incidental to the exercise,
     conversion or exchange of such Common Stock in accordance with their terms,
     any combination of shares (including any reverse stock split) or any
     recapitalization, reorganization or reclassification of, or any merger or
     consolidation involving, the Company.

          (c)  Excluded Shares. No shares of Common Stock that have been
transferred by Investors or Participant in a Transfer pursuant to the provisions
of Section 8(a) ("Excluded Shares") shall be subject again to the restrictions
set forth in Section 8(a), nor shall Participant, if Participant holds Excluded
Shares, be entitled to exercise any rights under Section 8(a) with respect to
such Excluded Shares, and no Excluded Shares held by Investors or Participant
shall be counted in determining the respective participation rights of such
Persons in a Transfer subject to Section 8(a).

          (d)  Upon the occurrence of any event which gives rise to
Participant's ability or requirement to transfer (including by operation of law)
Participant's interests in the Company or a Subsidiary of the Company to a third
party in exchange for consideration pursuant to this Agreement, at the election
of Participant, the Company shall take, and shall cause its Subsidiaries to
take, all actions necessary to convert Option Shares then held by Participant
into the appropriate type of security to permit Participant to transfer such
Shares to such third party.

          (e)  The provisions of this Section 8 shall remain in effect following
the first Public Offering.

     9.   Definitions. For purposes of this Agreement:

          (a)  "Allocable Shares" shall have the meaning set forth in Section 8
of this Agreement.

          (b)  "Cost" shall mean, with respect to Option Shares, the price per
Option Share paid by the Participant (as proportionately adjusted for all
subsequent stock splits, stock dividends and other recapitalizations).

                                       11

<PAGE>

          (c)  "Date of Exercise" shall mean the date the Participant exercises
the Option.

          (d)  "Disability" shall mean the inability of the Participant to
perform the essential functions of the Participant's job, with or without
reasonable accommodation, by reason of a physical or mental infirmity, for a
continuous period of six months. The period of six months shall be deemed
continuous unless Participant returns to work for at least 30 consecutive
business days during such period and performs during such period at the level
and competence that existed prior to the beginning of the six-month period. The
date of such termination for Disability shall be on the first day of such
six-month period.

          (e)  "Excluded Shares" shall have the meaning set forth in Section 8
of this Agreement.

          (f)  "Fair Market Value" used in connection with the value of Option
Shares shall mean the fair value of the Option Shares 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 4).

          (g)  "Family Group" means, with respect to any individual, such
individual's spouse and descendants (whether natural or adopted) and any trust,
partnership, limited liability company or similar vehicle established and
maintained solely for the benefit of (or the sole members or partners of which
are) such individual, such individual's spouse and/or such individual's
descendants.

          (h)  "Financing Default" shall mean any event of default under (i)
that certain Senior Secured Credit Facilities, (ii) senior unsecured floating
rate loan facility by and among Michael Foods and Bank of America, as
administrative agent and (iii) the Senior Subordinated Notes, or any other
similar notes or instruments that Michael Foods or its Subsidiaries may issue
from time to time.

          (i)  "Good Reason" shall have the meaning ascribed to such term in any
management stock purchase and unit subscription agreement, employment or
severance agreement then in effect between Participant and the Company or one of
its Subsidiaries or, if no such agreement containing a definition of "Good
Reason" is then in effect, shall mean either (i) the imposition upon Participant
of substantial additional or different duties which are inconsistent with
Participant's current position and, in the case of such duties which do not
constitute a diminution of duties, without a commensurate increase in
compensation, or (ii) either the reduction of Participant's salary or a material
reduction of other benefits under any employee benefit plan, program or
arrangement of the Company (other than a change that affects all senior
executives of the Company) from the level in effect upon Participant's
commencement of participation in the Plan.

          (j)  "Investors" shall mean THL-MF Investors, LLC, a Delaware limited
liability company, as well as all affiliates of Investors.

          (k)  "Offered Securities" shall have the meaning set forth in
Section 8.

                                       12

<PAGE>

          (l)  "Ownership Percentage" shall mean, for each stockholder and with
respect to the Common Stock, the percentage obtained by dividing the number of
shares of such Common Stock held by such stockholder by the total number of
shares of Common Stock outstanding.

          (m)  "Retirement" shall mean, with respect to the Participant, the
Participant's retirement as an employee of the Company 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 the Company
or one of its Subsidiaries after the date of this Agreement.

          (n)  "Sale Notice" shall have the meaning set forth in Section 8 of
this Agreement.

          (o)  "Senior Secured Credit Facilities" shall mean that certain Credit
Agreement, dated November 20, 2003, by and among the Company and the other
parties named therein, and one or more other debt facilities or commercial paper
facilities, in each case with banks or other institutional lenders providing for
revolving credit loans, term loans, receivables financing (including through the
sale of receivables to such lenders or to special purpose entities formed to
borrow from such lenders against such receivables) or letters of credit, in each
case, as amended, restated, modified, renewed, refunded, replaced or refinanced
in whole or in part from time to time.

          (p)  "Senior Subordinated Notes" shall mean those certain 8% Senior
Subordinated Notes due 2013 in an aggregate principal amount of $150,000,000,
issued by THL Food Products Co., a Delaware corporation, on November 20, 2003,
or any other similar notes or instruments that the Company or its Subsidiaries
may issue from time to time.

          (q) "Tag-Along Notice" shall have the meaning set forth in Section 8
of this Agreement.

     10.  No Right to Continued Employment. Nothing contained in the Plan or
this Agreement shall be deemed to obligate the Company or any Subsidiary of the
Company to employ the Participant in any capacity whatsoever or to prohibit or
restrict the Company (or any such subsidiary) from terminating the employment of
the Participant at any time or for any reason whatsoever, with or without Cause.

     11.  Legend on Certificates. A restrictive legend in the form set forth
below and other legends reasonably requested by the Company shall be placed on
the certificates representing Option Shares issued upon exercise of the Option:

          "THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT
          TO CERTAIN REPURCHASE OPTIONS AND OTHER PROVISIONS SET FORTH
          IN A STOCK OPTION AWARD AGREEMENT BETWEEN THE ISSUER AND
          GREGG OSTRANDER DATED AS OF NOVEMBER 20, 2003, AS AMENDED
          FROM TIME TO TIME, A COPY OF WHICH MAY BE OBTAINED BY THE
          HOLDER HEREOF AT THE ISSUER'S PRINCIPAL PLACE OF BUSINESS
          WITHOUT

                                       13

<PAGE>

          CHARGE."

     12.  Transferability. Except as set forth in this Section 12, Participant
may not transfer his Option or Option Shares. Participant may transfer Option
Shares, subject to the terms and conditions of this Agreement and the Plan, to:

          (a)  the Participant's Family Group;

          (b)  a trust solely for the benefit of the Participant and his or her
Family Group; or

          (c)  a partnership or limited liability company whose only members or
partners are the Participant and members of his or her Family Group;

(each transferee in clauses (i), (ii), and (iii) above, a "Permitted
Transferee"); provided that the Participant, prior to the transfer of Option
Shares to a Permitted Transferee (other than a transfer in connection with or
subsequent to a Sale of the Company), the Participant shall deliver to the
Company 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 Option Shares transferred to such person will continue to
be Option Shares for purposes of this Agreement in the hands of such person. Any
transfer or attempted transfer of Option Shares in violation of any provision of
this Agreement shall be void, and the Company shall not record such transfer on
its books or treat any purported transferee of such Option Shares as the owner
of such Option Shares for any purpose.

     13.  Confidentiality. Participant recognizes and acknowledges that he may
receive certain confidential and proprietary information and trade secrets of
the Company and its Subsidiaries, including but not limited to confidential
information of the Company and its Subsidiaries regarding their financial
condition (the "Confidential Information"). Participant agrees that he will not,
whether through an Affiliate or otherwise, disclose Confidential Information to
any Person for any reason or purpose whatsoever, except (i) to authorized
representatives and employees of the Company or the Subsidiaries and as
otherwise may be proper in the course of performing Participant's obligations,
or enforcing Participant's rights, under this Agreement, or (ii) as is required
to be disclosed by order of a court of competent jurisdiction, administrative
body or governmental body, or by subpoena, summons or legal process, or by law,
rule or regulation, provided that the Participant shall provide to the Board
prompt notice of such disclosure. For purposes of this Section 13, Confidential
Information shall not include any information (w) that has been published in a
form generally available to the public or becomes generally available to the
public prior to the date Participant discloses such information (such
information shall not be deemed to have been published merely because individual
portions of the information have been separately published, but only if all
material features constituting such information have been published in
combination), (x) of which Participant became aware prior to its affiliation
with the Company, (y) Participant learns from sources other than the Company or
its Subsidiaries, (provided that Participant does not know or have reason to
know, at the time of Participant's disclosure of such information, that such
information was acquired by such source through violation of law, breach of
contractual confidentiality obligations or breach of fiduciary duties) or (z)
which is disclosed

                                       14

<PAGE>

by the Company in a prospectus or other documents for dissemination to the
public or is otherwise required to be disclosed by law or legal process (subject
to reasonable advance notice to the Company to permit the Company to seek a
protective order or otherwise protect its information).

     14.  Securities Laws. Upon the acquisition of any Option Shares pursuant to
the exercise of the Option, the Participant will make or enter into such written
representations, warranties and agreements as the Committee may reasonably
request in order to comply with applicable securities laws or with this
Agreement.

     15.  Notices. Any notice necessary under this Agreement shall be addressed
to the Company in care of its Secretary at the principal executive office of the
Company and to the Participant at the address appearing in the personnel records
of the Company for the Participant or to either party at such other address as
either party hereto may hereafter designate in writing to the other. Any such
notice shall be deemed effective upon receipt thereof by the addressee.

     16.  Choice of Law. The interpretation, performance and enforcement of this
Agreement shall be governed by the laws of the State of Delaware applicable to
contracts made and to be performed therein.

     17.  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 that Vestar and Marathon
are third party beneficiaries of this Agreement and shall have the right to
enforce the provisions hereof.

     18. 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 writing executed by
the party so waiving.

     19.  Option Subject to Plan. By entering into this Agreement the
Participant agrees and acknowledges that the Participant has received and read a
copy of the Plan. The Option and the Option Shares are subject to the Plan. The
terms and provisions of the Plan as it may be amended from time to time in
accordance with its respective terms are hereby incorporated herein by
reference. In the event of a conflict between any term or provision contained
herein and a term or provision of the Plan, the applicable terms and provisions
of the Plan will govern and prevail.

     20.  Signature in Counterparts. This Agreement may be signed in
counterparts (including by means of telecopied signature pages), each of which
shall be an original, with the same effect as if the signatures thereto and
hereto were upon the same instrument.

                                       15

<PAGE>

          IN WITNESS WHEREOF, the parties hereto have executed this Agreement.

                                          THL FOOD PRODUCTS HOLDING CO.

                                          By:  /s/ John D. Reedy
                                             -----------------------------------
                                          Its:

Agreed and acknowledged as
of the date first above written:

 /s/ Gregg A. Ostrander
--------------------------------------
Gregg Ostrander

                                       16

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