Document:

<PAGE>
                                                                    EXHIBIT 10.7

                AVIATION PERSONNEL USE AND COST SHARING AGREEMENT

         Agreement, dated September 19, 2002, by and among CONAGRA FOODS, INC.,
a Delaware corporation ("ConAgra"), MONFORT INTERNATIONAL SALES CORPORATION, a
Colorado corporation ("Monfort"), and each of the other companies listed on the
signature pages hereto (the "Companies").

RECITALS:

         This Agreement is made with reference to the following facts and
circumstances:

         (a)      Swift Beef Company ("Swift") is the assignee from ConAgra of
                  the tenant's interest in land in Greeley, Weld County,
                  Colorado leased from Greeley-Weld County Airport Authority
                  ("Authority") pursuant to a Greeley-Weld County Airport Ground
                  Lease Agreement for Land Space # 19 & 65 dated August 2, 2000,
                  as amended by an Amendment No. 1 dated October 27, 2000 and an
                  Amendment No. 2 dated December 4, 2001 (the "Ground Lease"),
                  as more particularly described therein (the "Land").

         (b)      Swift is the transferee from ConAgra of the buildings,
                  fixtures and other improvements affixed to the Land (the
                  "Hangar"). The Land and the Hangar are collectively referred
                  to as the "Premises".

         (c)      ConAgra and Monfort each own an aircraft that is based at the
                  Hangar, described as:

                  ConAgra Learjet:  Learjet 35A S/N 459 N829CA ("ConAgra Plane")
                  Monfort Learjet:  Learjet 35A S/N 590 N827CA ("Monfort Plane")
                  collectively the "Planes".

         (d)      ConAgra currently employs two (2) aircraft maintenance
                  employees (the "Mechanics"), five (5) pilots (the "Pilots"),
                  and one (1) scheduler (the "Scheduler") identified on Exhibit
                  1, who maintained, piloted and scheduled, respectively, the
                  Planes before the Monfort Plane was conveyed by ConAgra to
                  Monfort. The Mechanics, Pilots and Scheduler are sometimes
                  collectively referred to as the "Personnel".

         (e)      Monfort may lease or otherwise permit the use of the Monfort
                  Plane by one or more of the Companies to transport property,
                  employees, officers, directors, agents, guests and/or invitees
                  of such Companies and their respective affiliates.

         (f)      The parties desire to set forth herein certain agreements with
                  respect to the joint use of the Personnel by ConAgra and
                  Monfort.

<PAGE>

AGREEMENT:

         In consideration of the foregoing recitals which are incorporated with
and are made a part of this Agreement, and in further consideration of the
mutual covenants and agreements hereinafter contained, the parties agree,
subject to the terms and conditions hereinafter set forth, as follows:

         1. Personnel's Services and Cost Sharing. ConAgra will initially supply
the Personnel identified on Exhibit 1. As the employer, ConAgra will, with
respect to the Personnel: (i) maintain all necessary personnel and payroll
records; (ii) compute wages and withhold applicable federal, state and local
taxes and federal Social Security payments; (iii) remit employee withholdings to
the proper governmental authorities and make employer contributions for federal
FICA and federal and state unemployment insurance payments; and (iv) pay net
wages and salaries and provide fringe benefits directly to the Personnel. This
arrangement shall in no way affect the right of ConAgra, in its sole discretion
as employer, to assign, reassign and/or terminate any of such Personnel;
provided, however, that any assignment or reassignment of any of such Personnel
shall require the prior consent of Monfort (not to be unreasonably withheld).

         The salaries and wages to be paid and the fringe benefits to be
provided to the Personnel initially shall be those currently provided by ConAgra
to the Personnel. ConAgra may change the compensation and benefits of the
Personnel at any time without the consent of Monfort and the Companies.

         Monfort and each of the Companies acknowledge that the Personnel shall
remain employees-at-will of ConAgra. ConAgra shall have no responsibility for
providing any Personnel other than those set forth on Exhibit 1 hereto, and in
the event either or both of such Personnel's employment is terminated, ConAgra
shall have no obligation to replace such Personnel. ConAgra does not guarantee
any of the Personnel continued employment.

         Monfort shall reimburse ConAgra upon invoice from ConAgra, one-half
(1/2) of all compensation and benefits of the Personnel and one-half (1/2) of
all other costs and expenses of ConAgra relating to such Personnel for so long
as the Personnel continue to maintain the Planes as provided herein.

         2. Coordinating and Scheduling of Personnel. ConAgra will coordinate
and schedule the Personnel so that Monfort and ConAgra both have reasonable
access to the Personnel, and shall use reasonable efforts to accommodate
Monfort's needs and to avoid conflicts in use of the Personnel. Notwithstanding
the foregoing, (a) ConAgra shall have final authority over the coordination and
scheduling of the Personnel and (b) ConAgra shall have priority with respect to
the use of the Mechanics and two (2) of the Pilots; and Monfort shall have
priority with respect to the use of two (2) of the Pilots. The parties may, from
time to time, adopt operational guidelines to assist them in the administration,
management, and coordination of their respective aircraft maintenance
requirements and activities. Any such operational guidelines shall be effective
upon signing by the parties hereto.

         3. Control of Personnel. During the periods of time that each of the
Personnel is performing services on or in connection with the Monfort Plane,
such Personnel performing such services shall be considered under the direction
and control of Monfort, and during such periods

                                       2
<PAGE>

of time the Personnel are performing services on the Monfort Plane shall not be
under ConAgra's direction and control, and ConAgra shall not be responsible in
any manner for the actions or omissions of such Personnel. In no event shall
ConAgra be responsible for the satisfactory performance and/or quality of the
services provided by the Personnel with respect to the Monfort Plane. The
parties acknowledge, understand and agree that during the periods of time the
Personnel are performing services on or in connection with the Monfort Plane,
Monfort shall have sole responsibility for the actions and omissions of such
Personnel.

         4. Operational Control of Planes. Notwithstanding that the Pilots are
provided by ConAgra, while operating the Monfort Plane for Monfort, the Pilots
and other members, if any, of the flight crew shall be deemed solely under the
direction and control of Monfort, and Monfort shall be considered responsible
for the operational control of the Monfort Plane. As such, ConAgra and Monfort
each acknowledges and agrees that such party (as owner and operator of such
party's Plane, herein referred to as the "Owner") is solely responsible for the
operational control of such Owner's Plane under Part 91 of the FARS, and such
Owner is solely responsible for the possession, command and control of such
Owner's Plane in accordance with the applicable provisions of the Internal
Revenue Code of 1986, as amended, and the regulations and rulings promulgated
thereunder.

         5. Responsibility for Maintenance of Planes. Subject to sharing the
costs of the Personnel as specified in Section 2 above, Monfort and ConAgra each
shall be solely responsible for the maintenance, preventive maintenance and
required or otherwise necessary inspections on such party's Plane. Monfort and
ConAgra each shall be responsible for assuring that all operations, maintenance
and recordkeeping of such party's Plane comply with applicable local, state and
such party's federal regulations, including Part 91 of the FARs. In accordance
therewith, Monfort and ConAgra each shall be responsible for the purchase of all
parts, supplies, and components required for or in connection with maintenance
of its Plane, and shall make arrangements directly with the Mechanics and
suppliers for authorizations and coordination of the purchase of parts and
components to be used by the Mechanics for maintenance of such party's Plane,
and payments by such party for same or charges by the Mechanics to such party's
account while the Mechanics are performing such services. In addition, Monfort
and ConAgra each shall obtain and maintain its own public liability and property
damage insurance in the amounts and upon such terms and conditions specified in
the Hangar License Agreement between ConAgra and Swift Beef Company, dated
September 19, 2002. In addition to such insurance, Monfort and ConAgra each
shall also obtain and maintain the following aviation insurance at its own
expense:

         (a)      Aircraft Liability and Property Damage Insurance. Public
                  liability insurance, including bodily injury and property
                  damage (including, without limitation, passenger legal
                  liability) in an amount not less than $50,000,000 for each
                  single occurrence and workmen's compensation insurance
                  all-states coverage for its personnel. In addition, ConAgra
                  agrees to name Monfort as an alternate employer under
                  ConAgra's workers compensation insurance covering the
                  Personnel.

         (b)      Insurance Against Loss or Damage to the Aircraft. All-risk
                  ground and flight aircraft hull insurance covering such
                  party's Plane in the full replacement value of such plane,
                  including foreign object damage, fire and explosion coverage,
                  and lightning and electrical damage, and, to the extent such
                  insurance is available at reasonable

                                        3
<PAGE>

                  cost, war risk, hijacking (air piracy), governmental
                  confiscation and expropriation insurance.

         (c)      Release and Waiver of Subrogation. The parties hereby release
                  each other and their respective officers, employees, and
                  agents from all claims for damage to the Planes,
                  notwithstanding that any such loss or damage may be due to or
                  result from the negligence, gross negligence or willful
                  misconduct of any of the Personnel.

         (d)      Terms Applicable to All Insurance Policies. All insurance
                  policies maintained by Monfort (i) shall be issued by
                  financially sound insurance companies duly authorized to
                  conduct business in the State of Colorado, (ii) shall require
                  the insurance companies to give the parties thirty (30) days
                  prior written notice in the event of cancellation or material
                  alteration of coverage, (iii) shall name ConAgra as additional
                  insured with respect to all liability insurance of the type
                  required under Section 5(a) above, and (iv) shall provide that
                  in respect of the interest of ConAgra in such policies the
                  insurance shall not be invalidated by any action or inaction
                  of Monfort or the Companies. Each insurance policy maintained
                  by Monfort and its respective coverage amounts, (i) shall be
                  primary without right of contribution from any other insurance
                  which is carried by ConAgra and (ii) shall expressly provide
                  that all of the provisions thereof, except the limits of
                  liability shall operate in the same manner as if there were a
                  separate policy covering each insured. The parties acknowledge
                  that Monfort's aircraft liability coverage will be primary
                  with respect to the Monfort Plane (or any aircraft leased by
                  Monfort if Monfort is leasing such plane), notwithstanding
                  that the pilot in command may be employed by ConAgra.

                  Upon execution hereof, and upon request of a party thereafter,
                  each party shall furnish the other party a certificate of
                  insurance evidencing the coverages required hereunder and
                  acknowledging and approving this Agreement.

         6. Non-liability. ConAgra shall not be liable for, and Monfort waives,
releases and covenants not to sue ConAgra for, any claim, liability, damage,
cost, fine, penalty or expense in any way relating to the maintenance, repair or
operation of the Monfort Plane, notwithstanding that such activities are
performed by the Personnel. Monfort shall not be liable for, and ConAgra waives,
releases and covenants not to sue Monfort for, any claim, liability, damage,
cost, fine, penalty or expense in any way relating to the maintenance, repair or
operation of the ConAgra Plane.

         In addition, the parties hereby release each other and their respective
officers, employees, and agents from all claims for damage to each of their
Planes, other than claims that may be due to or result from the gross negligence
or willful misconduct of any of the parties or their respective officers,
agents, or employees (other than the Personnel, the release with respect to
which is addressed in Section 5(c) above).

         7. Indemnification. During the course of, and upon and after
termination of this Agreement for any reason, Monfort and the Companies hereby,
jointly and severally, agree to indemnify, defend and hold ConAgra harmless from
and against any and all loss, damage, liability, cost and expense whatsoever,
(including, but not limited to court costs and attorney's fees) (collectively
"Costs"), incident to any claim, action, or proceedings (each a "Claim") against

                                       4
<PAGE>

ConAgra which arise out of or relate to (a) the performance of services by the
Personnel to, for or in connection with the Monfort Plane, or (b) the acts,
omissions, negligence or willful misconduct of the Personnel, Monfort, or
Monfort's employees, agents and contractors, in connection with the possession,
handling, use, maintenance, repair or operation of the Monfort Plane. During the
course of, and upon and after termination of this Agreement for any reason,
ConAgra agrees to indemnify, defend and hold Monfort and the Companies harmless
from and against any and all Costs incident to any Claim against Monfort and any
of the Companies which arise out of or relate to (a) the performance of services
by the Personnel to, for or in connection with the ConAgra Plane, or (b) the
acts, omissions, negligence or willful misconduct of the Personnel, ConAgra or
ConAgra's employees, agents and contractors in connection with the possession,
handling, use, maintenance, repair or operation of the ConAgra Plane.

         8. Term and Termination. The term of this Agreement shall be two (2)
years, commencing on September 19, 2002 (the "Commencement Date and ending on
September 18, 2004 (the "Termination Date"). This Agreement may be terminated
before the Termination Date under the following circumstances:

         (a)      By mutual agreement of ConAgra and Monfort which shall be
                  binding on all the parties.

         (b)      At the option of ConAgra or Monfort on ninety (90) days prior
                  written notice to the other parties.

         (c)      At the option of either ConAgra or Monfort, upon ten (10) days
                  prior written notice to the other parties, in the event either
                  of the Mechanics employment with ConAgra is terminated, or two
                  (2) or more of the Pilots employment with ConAgra is
                  terminated.

         (d)      If one of the parties breaches the terms of this Agreement,
                  any other party may give the breaching party a notice in
                  writing which specifically sets out the nature and extent of
                  the breach, and the steps that must be taken to cure the
                  breach.

                  After receiving such a written notice, the breaching party
                  will then have ten (10) days to cure the breach. If the
                  breaching party does not do so, any non-breaching party will
                  have the right to terminate this Agreement.

         (e)      In the event that a party to this Agreement incurs costs,
                  expenses, and attorneys' fees in connection with protecting
                  its rights or enforcing its remedies following a breach of
                  this Agreement by the other party (as finally determined in
                  accordance with one of the methods listed below), the
                  breaching party must reimburse the non-breaching party for all
                  such costs, expenses, and attorneys' fees, regardless of
                  whether or not the protection of rights or the enforcement of
                  remedies involved judicial proceedings, arbitration
                  proceedings, or other formal dispute resolution proceedings.
                  The breaching party must reimburse the non-breaching party for
                  these costs, expenses, and attorneys' fees within ten (10)
                  days of receiving a reasonably detailed reimbursement claim
                  from the non-breaching party.

                                       5
<PAGE>

         (f)      Expiration or termination of this Agreement shall not affect
                  any rights or obligations of any party which have accrued up
                  to the date of termination or expiration, or which otherwise
                  survive termination in accordance with their respective terms.

         9. Survival of Claims. Any claims that the parties have against each
other that arise out of actions or omissions that take place while this
Agreement is in effect will survive the termination of this Agreement for three
(3) years after termination of this Agreement. In addition, the provisions of
Sections 5, 6, 7, 8 and 9 hereof shall survive termination of this Agreement.

         10. Authority. The parties to this Agreement represent and warrant to
each other that they have taken all corporate action necessary to authorize them
to enter into and be bound by this Agreement. The parties further represent and
warrant to each other that the officer signing this Agreement on behalf of each
party has the necessary authority to do so, and has the authority to bind the
party on whose behalf he is signing to perform its duties and obligations under
this Agreement.

         11. Notices. All written notices sent under this Agreement will be sent
by certified mail, return receipt requested, or by facsimile. All such notices
will be effective upon receipt.

         Notices to ConAgra will be addressed as follows:

                           ConAgra Flight Operations
                           3619 Doolittle Plaza
                           Eppley Airfield
                           Omaha, Nebraska  68110
                           Attention:  James W. Hollenbeck
                           Facsimile No.:  (402) 595-4050

         With a copy to:

                           ConAgra Foods, Inc.
                           One ConAgra Drive
                           Omaha, Nebraska 68102-5001
                           Attention:  Senior Vice President - Controller
                           Facsimile No.  (402) 595-4611

         Notices to Monfort will be addressed as follows:

                           Monfort International Sales Corporation
                           1770 Promontory Circle
                           Greeley, CO  80634
                           Attention: President
                           Facsimile No. (970) 506-8323

                                       6
<PAGE>

         With a copy to:

                           Vinson & Elkins L.L.P.
                           3700 Trammell Crow Center
                           2001 Ross Avenue
                           Dallas, Texas  75201
                           Attention:  Michael D. Wortley
                           Facsimile No.  (214) 220-7716

         Notices to the Companies will be addressed as follows:

                           c/o Swift & Company
                           1770 Promontory Circle
                           Greeley, CO  80634
                           Attention: President
                           Facsimile No. (970) 506-8323

         12. Governing Law. This Agreement will be interpreted and enforced in
accordance with the laws of the State of Colorado.

         13. Assignment. This Agreement may be assigned by either party with
prior written notice to the other party.

         14. Entire Agreement. This Agreement and the other documents referenced
in it set out the entire agreement between the parties regarding the matters
described in this Agreement. The parties agree that there are no other oral or
written understandings or agreements between them regarding these matters, and
that this Agreement and the other documents referenced in it supersede any
previous oral or written understandings or agreements.

         15. Interpretation. This Agreement and any other documents related to
it will be interpreted in a fair and neutral manner, without favoring one party
over the other. No provision of this Agreement or any other document related to
it will be interpreted for or against any party because the provision was
drafted by that party or its legal representatives.

         16. Amendment, Modification, or Waiver. No amendment, modification, or
waiver of any provision of this Agreement or any other document related to it
will be effective unless it is made in writing, unless it is signed by the
parties to be bound by it, and unless it clearly specifies the nature and extent
of the amendment, modification, or waiver.

         17. Severability. If any provision of this Agreement is held to be
invalid or unenforceable under any applicable law, that holding will not affect
the validity or enforceability of the rest of the Agreement. Also, any provision
of this Agreement which is held to be invalid or unenforceable will not be
completely invalidated, but will instead be considered amended to the extent
necessary to remove the cause of the invalidity or the unenforceability.

         18. Relationship of Parties. The relationship of the parties hereunder
shall be that of independent contractors, and nothing shall be construed to
alter this relationship. Nothing herein

                                       7
<PAGE>

shall be construed to create a relationship of partner, agency, joint venture or
employer/employee between the parties.

         19. No Waiver. If either party to this Agreement fails to insist upon
strict performance of any obligation under this Agreement or any other document
related to it, that failure will not result in a waiver of that party's right to
demand strict performance in the future. This will be the case no matter how
long the failure to insist upon strict performance continues.

         20. Force Majeure. ConAgra and Monfort shall be excused from their
individual obligations under this Agreement to the extent that any delay or
failure in the performance of such obligations results from any cause beyond its
reasonable control (and without the fault of ConAgra or Monfort), including,
without limitation, performance by third parties, power failures, computer
equipment or system failures, acts of God, acts of civil or military authority,
embargoes, epidemics, war, terrorism, riots, insurrections, fires, explosions,
earthquakes, floods, severe weather conditions or labor problems.

         21. Successors and Assigns. This Agreement will be binding upon and
will continue in effect for the benefit of the parties hereto, as well as their
successors and permitted assigns.

         22. Headings and Captions. The headings and captions of the sections
and subsections of this Agreement are for convenience of reference only. Those
headings and captions are not part of this Agreement, and will not be used in
interpreting the Agreement.

         23. Consent to Jurisdiction. The parties hereto hereby irrevocably
submit to the exclusive jurisdiction of any United States federal or Colorado
state court sitting Colorado in any action or proceeding arising out of or
relating to this Agreement and each of the parties hereto hereby irrevocably
agrees that all claims in respect of such action or proceeding shall be heard
and determined in any such court and irrevocably waives any objection it may now
or hereafter have as to the venue of any such suit, action or proceeding brought
in such a court or that such court is an inconvenient forum.

                            [Signatures on next page]

                                       8
<PAGE>
IN WITNESS WHEREOF, the parties to this Agreement have executed this Agreement
effective as of the date set forth above.

CONAGRA FOODS, INC.,                        MONFORT INTERNATIONAL SALES
a Delaware corporation                      CORPORATION, a Colorado corporation

By: /s/ PATRICK J. KOLEY                    By: /s/ DANNY C. HERRON
   --------------------------------            --------------------------------
Print Name: Patrick J. Koley                Print Name: Danny Herron
           ------------------------                    ------------------------
Title: Authorized Representative            Title: Vice President
      -----------------------------               -----------------------------

SWIFT & COMPANY,                            SWIFT BEEF COMPANY,
a Delaware corporation                      a Delaware corporation

By: /s/ DANNY C. HERRON                     By: /s/ DANNY C. HERRON
   --------------------------------            --------------------------------
Print Name: Danny C. Herron                 Print Name: Danny Herron
           ------------------------                    ------------------------
Title: Vice President                       Title: Vice President
      -----------------------------               -----------------------------

SWIFT MEATS HOLDING                         SWIFT CATTLE HOLDCO, INC.,
COMPANY, a Delaware corporation             a Delaware corporation

By: /s/ DANNY C. HERRON                     By: /s/ DANNY C. HERRON
   --------------------------------            --------------------------------
Print Name: Danny C. Herron                 Print Name: Danny Herron
           ------------------------                    ------------------------
Title: Vice President                       Title: Vice President
      -----------------------------               -----------------------------

S&C HOLDCO 3, INC.,                         SWIFT PORK COMPANY,
a Delaware corporation                      a Delaware corporation

By: /s/ DANNY C. HERRON                     By: /s/ DANNY C. HERRON
   --------------------------------            --------------------------------
Print Name: Danny C. Herron                 Print Name: Danny Herron
           ------------------------                    ------------------------
Title: Vice President                       Title: Vice President
      -----------------------------               -----------------------------

KABUSHIKI KAISHA SAC                        AUSTRALIA MEAT HOLDINGS PTY.
JAPAN, a Japanese stock corporation         LIMITED, an Australian corporation

By: /s/ PATRICK J. KOLEY                    By: PATRICK J. KOLEY
   --------------------------------            --------------------------------
Print Name: Patrick J. Koley                Print Name:  Patrick J. Koley
           ------------------------                    ------------------------
Title: Attorney-in-Fact                     Title: Attorney-in-Fact
      -----------------------------               -----------------------------

                                       9
<PAGE>

BURCHER PTY. LIMITED,                       SWIFT REFRIGERATED FOODS, S.A
an Australian corporation                   DE C.V.

By: /s/ PATRICK J. KOLEY                    By: PATRICK J. KOLEY
   --------------------------------            --------------------------------
Print Name: Patrick J. Koley                Print Name:  Patrick J. Koley
           ------------------------                    ------------------------
Title: Attorney-in-Fact                     Title: Attorney-in-Fact
      -----------------------------               -----------------------------

MILLER BROS. CO.,                           MONFORT FOOD DISTRIBUTION
INC., a Utah corporation                    COMPANY, a Colorado corporation

By: /s/ DANNY C. HERRON                     By: /s/ DANNY C. HERRON
   --------------------------------            --------------------------------
Print Name: Danny C. Herron                 Print Name: Danny Herron
           ------------------------                    ------------------------
Title: Vice President                       Title: Vice President
      -----------------------------               -----------------------------

MONFORT FINANCE COMPANY,                    MONFORT, INC.,
INC., a Colorado corporation                a Delaware corporation

By: /s/ DANNY C. HERRON                     By: /s/ DANNY C. HERRON
   --------------------------------            --------------------------------
Print Name: Danny C. Herron                 Print Name: Danny Herron
           ------------------------                    ------------------------
Title: Vice President                       Title: Vice President
      -----------------------------               -----------------------------

                                       10
<PAGE>

                                    EXHIBIT 1

<Table>
<Caption>
                                    MECHANICS
                                    ---------

                   Name                                Position
                   ----                                --------
<S>                                               <C>
               Charlie Kolb                       Chief of Maintenance
               Bob George                         Line Service/Mechanic
</Table>

<Table>
<Caption>
                                     PILOTS
                                     ------

                   Name                                Position
                   ----                                --------
<S>                                               <C>
               Steve Nealy                            Chief Pilot
               Ron Weatherbie                            Pilot
               Joe Schember                              Pilot
               Dean Beresford                            Pilot
               Dean O'Brien                              Pilot
</Table>

<Table>
<Caption>
                                    SCHEDULER
                                    ---------

                   Name                                Position
                   ----                                --------
<S>                                               <C>
               Kelly Huston                        Aircraft Scheduler
</Table>

                                       11<PAGE>
                                                                    EXHIBIT 10.8

                       MONITORING AND OVERSIGHT AGREEMENT

         THIS MONITORING AND OVERSIGHT AGREEMENT (this "Agreement") is made and
entered into effective as of September 19, 2002, by and among Swift Foods
Company, a Delaware corporation (together with its successors, the "Company"),
Swift & Company, a Delaware corporation (together with its successors, "Swift
Meats"), Swift Pork Company, a Delaware corporation (together with its
successors, "Swift Pork"), Swift Beef Company, a Delaware corporation (together
with its successors, "Swift Beef"), S&C Australia Holdco Pty. Ltd., an
Australian corporation (together with its successors, "S&C Australia"),
Australia Meat Holdings Pty. Limited, an Australian corporation ("Australia
Meat"), S&C Holdco 2, Inc., a Delaware corporation ("S&C 2"), and S&C Holdco 3,
Inc., a Delaware corporation ("S&C 3," and together with the Company, Swift
Meats, Swift Pork, Swift Beef, S&C Australia, Australia Meat and S&C 2, the
"Clients"), and Hicks, Muse & Co. Partners, L.P., a Texas limited partnership
(together with its successors, "HMCo").

         1. Retention. The Clients hereby acknowledge that they have retained
HMCo to, and HMCo acknowledges that, subject to reasonable advance notice in
order to accommodate scheduling, HMCo will, provide financial oversight and
monitoring services to the Company as requested by the board of directors of the
Company during the term of this Agreement.

         2. Term. The term of this Agreement shall continue until the earlier to
occur of (i) the tenth anniversary of the date hereof or (ii) the date on which
Hicks, Muse, Tate & Furst Incorporated ("HMTF") or its successors and their
respective affiliates (including, without limitation, any equity fund sponsored
by HMTF or its successors) shall cease to own beneficially, directly or
indirectly, any securities of any of the Clients or their respective successors.

         3. Compensation.

                  (a) As compensation for HMCo's services to the Clients under
this Agreement, the Clients hereby irrevocably agree, jointly and severally, to
pay to HMCo an annual fee (the "Monitoring Fee") equal to $2,000,000 (the "Base
Fee"), subject to adjustment pursuant to paragraphs (b) and (c) below and
prorated on a daily basis for any partial fiscal year during the term of this
Agreement. The Monitoring Fee shall be payable in equal quarterly installments
on each of September 1, December 1, March 1 and June 1 during the term of this
Agreement (each a "Payment Date"), beginning with the first Payment Date
following the date hereof. All payments shall be made by wire transfer of
immediately available funds to the account described on Exhibit A hereto (or
such other account as HMCo may hereafter designate in writing).

NOTICE IS HEREBY GIVEN THAT THIS AGREEMENT CONTAINS INDEMNIFICATION PROVISIONS
IN PARAGRAPH 5 THAT APPLY TO CLAIMS, LIABILITIES, LOSSES, DAMAGES OR EXPENSES
THAT HAVE RESULTED FROM OR ARE ALLEGED TO HAVE RESULTED FROM THE ACTIVE OR
PASSIVE OR THE SOLE, JOINT OR CONCURRENT ORDINARY NEGLIGENCE OF HMCO OR ANY
OTHER INDEMNIFIED PERSON IDENTIFIED THEREIN.

<PAGE>

                  (a) On the first day of each fiscal year during the term of
this Agreement beginning with the fiscal year beginning after the fiscal year
ended in May 2002, the Monitoring Fee shall be adjusted so that the Monitoring
Fee, as adjusted, shall be equal to the greater of (a) the Base Fee and (b) the
(i) budgeted consolidated annual EBITDA of the Company and its subsidiaries for
the then current fiscal year, multiplied by (ii) 1% (the "Percentage"). For
purposes of this Agreement, "EBITDA" means gross revenue (other than
extraordinary gains or losses from the sale of assets) less operating expenses
(including direct and indirect expenses and corporate overhead expenses of the
Company and its subsidiaries, but excluding depreciation and amortization).

                  (c) On each occasion that the Company or any of its
subsidiaries shall acquire another entity or business during the term of this
Agreement, the annual Monitoring Fee for the fiscal year in which such
acquisition occurs shall be adjusted prospectively (i.e., for periods subsequent
to such acquisition until the next adjustment pursuant to clause (b) above), as
of the closing of such acquisition, to an annual amount equal to (i) the pro
forma combined budgeted consolidated annual EBITDA of the Company and its
subsidiaries for the entire then current fiscal year of the Company (including
the budgeted EBITDA of the acquired entity or business for such entire fiscal
year, on a pro forma basis), multiplied by (ii) the Percentage; provided,
however, that in no event shall the annual Monitoring Fee be less than the Base
Fee.

                  (d) The Monitoring Fee will be paid in full, free of any
deductions or withholdings, unless a Client is compelled by law to make payments
subject to any such taxes. In such event the Client shall pay to HMCo such
additional amounts as may be necessary that HMCo receives a net amount equal to
the full amount which would have been receivable had payment not been made
subject to such tax.

                  (e) All past due payments in respect of the Monitoring Fee
shall bear interest at the lesser of the highest rate of interest which may be
charged under applicable law or the prime commercial lending rate per annum of
The Chase Manhattan Bank or its successors (which rate is a reference rate and
is not necessarily its lowest or best rate of interest actually charged to any
customer) (the "Prime Rate") as in effect from time to time, plus five percent
(5%), from the due date of such payment to and including the date on which
payment is made to HMCo in full, including such interest accrued thereon.

                  (f) For purposes of this Agreement, the phrase "Company and
its subsidiaries" shall exclude Swift Cattle Holdco, Inc. and Monfort Finance
Company, Inc.

         4. Reimbursement of Expenses. In addition to the compensation to be
paid pursuant to Section 3 hereof, the Clients agree, jointly and severally, to
pay or reimburse HMCo for all "Reimbursable Expenses," which shall consist of
(i) all reasonable disbursements and out-of-pocket expenses (including, without
limitation, costs of travel, postage, deliveries, communications, etc.) incurred
by HMCo or its affiliates for the account of any Client or in connection with
the performance by HMCo of the services contemplated by Section 1 hereof and
(ii) the Client's Pro Rata Share of Allocable Expenditures (as defined in
Exhibit B hereto). Promptly (but not more than 10 days) after request by or
notice from HMCo, applicable Client shall pay HMCo, by wire transfer of
immediately available funds to the account described on Exhibit A hereto (or
such other account as HMCo may hereafter designate in writing), the Reimbursable

                                       2
<PAGE>

Expenses for which HMCo has provided such Client invoices or reasonably detailed
descriptions. All past due payments in respect of the Reimbursable Expenses
shall bear interest at the lesser of the highest rate of interest which may be
charged under applicable law or the Prime Rate plus five percent (5%) from the
Payment Date to and including the date on which such Reimbursable Expenses plus
accrued interest thereon are fully paid to HMCo.

         5. Indemnification. The Clients jointly and severally shall indemnify
and hold harmless each of HMCo, its affiliates, and their respective directors,
officers, and controlling persons (within the meaning of Section 15 of the
Securities Act of 1933, as amended, or Section 20(a) of the Securities Exchange
Act of 1934, as amended), if any, agents, independent contractors and employees
(HMCo, its affiliates, and such other specified persons being collectively
referred to as "Indemnified Persons," and individually as an "Indemnified
Person") from and against any and all claims, liabilities, losses, damages and
expenses incurred by any Indemnified Person (including those arising out of an
Indemnified Person's negligence and reasonable fees and disbursements of the
respective Indemnified Person's counsel) which (A) are related to or arise out
of (i) actions taken or omitted to be taken (including, without limitation, any
untrue statements made or any statements omitted to be made) by the any of the
Clients or (ii) actions taken or omitted to be taken by an Indemnified Person
with the any Client's consent or in conformity with any Client's instructions or
any Client's actions or omissions or (B) are otherwise related to or arise out
of HMCo's engagement, and will reimburse each Indemnified Person for all costs
and expenses, including, without limitation, fees and disbursements of any
Indemnified Person's counsel, as they are incurred, in connection with
investigating, preparing for, defending or appealing any action, formal or
informal claim, investigation, inquiry or other proceeding, whether or not in
connection with pending or threatened litigation, caused by or arising out of or
in connection with HMCo's acting pursuant to HMCo's engagement, whether or not
any Indemnified Person is named as a party thereto and whether or not any
liability results therefrom. None of the Clients will, however, be responsible
for any claims, liabilities, losses, damages or expenses pursuant to clause (B)
of the preceding sentence that have resulted primarily from HMCo's bad faith,
gross negligence or willful misconduct. The Clients also agree that neither HMCo
nor any other Indemnified Person shall have any liability to any Client for or
in connection with such engagement except for any such liability for claims,
liabilities, losses, damages or expenses incurred by any Client that have
resulted primarily from HMCo's bad faith, gross negligence or willful
misconduct. The Clients agree that in no event will HMCo be liable for any
consequential, exemplary or punitive damages in connection with its performance
under this Agreement. Each Client further agrees that it will not, without the
prior written consent of HMCo, settle or compromise or consent to the entry of
any judgment in any pending or threatened claim, action, suit or proceeding in
respect of which indemnification may be sought hereunder (whether or not any
Indemnified Person is an actual or potential party to such claim, action, suit
or proceeding) unless such settlement, compromise or consent includes an
unconditional release of HMCo and each other Indemnified Person hereunder from
all liability arising out of such claim, action, suit or proceeding. EACH CLIENT
HEREBY ACKNOWLEDGES THAT THE FOREGOING INDEMNITY SHALL BE APPLICABLE TO ANY
CLAIMS, LIABILITIES, LOSSES, DAMAGES OR EXPENSES THAT HAVE RESULTED FROM OR ARE
ALLEGED TO HAVE RESULTED FROM THE ACTIVE OR PASSIVE OR THE SOLE, JOINT OR
CONCURRENT ORDINARY NEGLIGENCE OF HMCO OR ANY OTHER INDEMNIFIED PERSON.

                                       3
<PAGE>

         The foregoing right to indemnity shall be in addition to any rights
that HMCo and/or any other Indemnified Person may have at common law or
otherwise and shall remain in full force and effect following the completion or
any termination of the engagement. Each Client hereby consents to personal
jurisdiction and to service and venue in any court in which any claim, which is
subject to this Agreement, is brought against HMCo or any other Indemnified
Person.

         It is understood that, in connection with HMCo's engagement, HMCo may
also be engaged to act for a Client or Clients in one or more additional
capacities, and that the terms of this engagement or any such additional
engagement(s) may be embodied in one or more separate written agreements. This
indemnification shall apply to the engagement specified in the first paragraph
hereof as well as to any such additional engagement(s) (whether written or oral)
and any modification of said engagement or such additional engagement(s) and
shall remain in full force and effect following the completion or termination of
said engagement or such additional engagements.

         Each of the Clients further understands and agrees that if HMCo is
asked to furnish any Client a financial opinion letter or act for any Client in
any other formal capacity, such further action may be subject to a separate
agreement containing provisions and terms to be mutually agreed upon.

         6. Confidential Information. In connection with the performance of the
services hereunder, HMCo agrees not to divulge any confidential information,
secret processes or trade secrets disclosed by any Client or any of its
subsidiaries to it solely in its capacity as a financial advisor, unless such
Client consents to the divulging thereof or such information, secret processes
or trade secrets are publicly available or otherwise available to HMCo without
restriction or breach of any confidentiality agreement or unless required by any
governmental authority or in response to any valid legal process.

         7. Governing Law. This Agreement shall be construed, interpreted and
enforced in accordance with the laws of the State of Texas, excluding any
choice-of-law provisions thereof. Each of the parties hereby (a) irrevocably
submits to the exclusive jurisdiction of the United States Federal District
Court for the Northern District of Texas, sitting in Dallas County, Texas, the
United States of America, in the event such court has jurisdiction or, if such
court does not have jurisdiction, to any district court sitting in Dallas
County, Texas, the United States of America, for the purpose of any suit,
action, or proceeding arising out of or relating to this Agreement, including
any claims by any Indemnified Persons for indemnity pursuant to Section 5
hereof, (b) waives, and agrees not to assert in any such suit, action, or
proceeding, any claim that (i) it is not personally subject to the jurisdiction
of such court or of any other court to which proceedings in such court may be
appealed, (ii) such suit, action or proceeding is brought in an inconvenient
forum, or (iii) the venue of such suit, action, or proceeding is improper and
(c) expressly waives any requirement for the posting of a bond by the party
bringing such suit, action, or proceeding. Each of the parties consents to
process being served in any such suit, action, or proceeding by mailing,
certified mail, return receipt requested, a copy thereof to such party at the
address in effect for notices hereunder, and agrees that such services shall
constitute good and sufficient service of process and notice thereof. Nothing in
this Section 7 shall affect or limit any right to serve process in any other
manner permitted by law.

                                       4
<PAGE>

         8. Assignment. This Agreement and all provisions contained herein shall
be binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns; provided, however, neither this
Agreement nor any of the rights, interests or obligations hereunder shall be
assigned (other than with respect to the rights and obligations of HMCo, which
may be assigned to any one or more of its principals or affiliates) by any of
the parties without the prior written consent of the other parties.

         9. Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument, and the signature of any
party to any counterpart shall be deemed a signature to, and may be appended to,
any other counterpart.

         10. Certain Waivers. No (a) direct or indirect holder of any equity
interests or securities of HMCo (whether such holder is a limited or general
partner, member, stockholder or otherwise), (b) affiliate of HMCo, or (c) any
direct or indirect director, officer, employee, partner, affiliate, member,
controlling person, representative, or agent of HMCo, any of HMCo's respective
affiliates or any such direct or indirect holder of any equity interests or
securities of HMCo (collectively, the "Party Affiliates") shall have any
liability or obligation of any nature whatsoever in connection with or under
this letter or the transactions contemplated hereby, and each party hereto herby
waives and releases all claims against such Party Affiliates related to any such
liability or obligation.

         11. Other Understandings. All discussions, understanding and agreements
heretofore made between any of the parties hereto with respect to the subject
matter hereof are merged in this Agreement, which alone fully and completely
expresses the Agreement of the parties hereto. All calculations of the
Monitoring Fee and Reimbursable Expenses shall be made by HMCo and, in the
absence of mathematical error, shall be final and conclusive.

         12. Amendment and Waiver. Any provision of this Agreement may be
altered, supplemented, amended, or waived by the written consent of the Clients
and HMCo. No failure or delay by any party to this Agreement in exercising any
right, power or privilege hereunder shall operate as a waiver thereof nor shall
any single or partial exercise thereof preclude any other or further exercise
thereof or the exercise of any other right, power or privilege. The rights and
remedies herein provided shall be cumulative and not exclusive of any rights or
remedies provided by law.

         13. Notices. All notices, requests and other communications to any
party to this Agreement shall be in writing (including telex, facsimile
transmission or similar writing) and shall be given to such party by messenger,
telex, or facsimile transmission (a) at its address, facsimile number or telex
number set forth on the signature pages hereof, or (b) such other address,
facsimile number or telex number as a party may hereafter specify for the
purpose by notice to each of the other parties. Each such notice, request or
other communication shall be effective (i) if given by telex, when such telex is
transmitted and the appropriate answer back is received, (ii) if given by
facsimile transmission, when transmitted and electronic confirmation of receipt
is received and (iii) if given by messenger or any other means, when delivered
and a receipt of delivery is received.

                                       5
<PAGE>

         14. Section Headings. Headings contained in this Agreement are inserted
only as a matter of convenience and in no way define, limit or extend the scope
or intent of this Agreement or any provisions hereof.

         15. WAIVER OF JURY TRIAL. EACH OF THE PARTIES TO THIS AGREEMENT HEREBY
IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY.

         16. Invalid Provisions. If any provision of this Agreement is held to
be illegal, invalid, or unenforceable under any present or future law, and if
the rights or obligations of the parties under this Agreement shall not be
materially and adversely affected thereby (a) such provision shall be fully
severable, (b) this Agreement shall be construed and enforced as if such
illegal, invalid, or unenforceable provision had never comprised a part hereof,
(c) the remaining provisions of this Agreement shall remain in full force and
effect and shall not be affected by the illegal, invalid, or unenforceable
provision or by its severance herefrom, and (d) in lieu of such illegal,
invalid, or unenforceable provision, there shall be added automatically as a
part of this Agreement a legal, valid, and enforceable provision as similar in
terms to such illegal, invalid, or unenforceable provision as may be possible.

            [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

                                       6
<PAGE>

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

                                     HICKS, MUSE & CO. PARTNERS, L.P.

                                     By:          HM PARTNERS INC.,
                                                  its General Partner

                                     By:          /s/ DAVID W. KNICKEL
                                                  ------------------------------
                                     Name:        David W. Knickel
                                                  ------------------------------
                                     Title:       Vice President & Treasurer
                                                  ------------------------------

                                                  200 Crescent Court
                                                  Suite 1600
                                                  Dallas, Texas 75201

                                     Facsimile:   (214) 720-7888

                                     SWIFT FOODS COMPANY

                                     By:          /s/ PATRICK J. KOLEY
                                                  ------------------------------
                                     Name:        Patrick J. Koley
                                                  ------------------------------
                                     Title:       Vice President
                                                  ------------------------------

                                                  1770 Promontory Circle
                                                  Greeley, Colorado 80634
                                                  Attn: President

                                     Facsimile:   (970) 506-8323

                                     SWIFT & COMPANY

                                     By:          /s/ PATRICK J. KOLEY
                                                  ------------------------------
                                     Name:        Patrick J. Koley
                                                  ------------------------------
                                     Title:       Vice President
                                                  ------------------------------

                                                  1770 Promontory Circle
                                                  Greeley, Colorado 80634
                                                  Attn: President

                                     Facsimile:   (970) 506-8323

                                       7
<PAGE>

                                     SWIFT PORK COMPANY

                                     By:          /s/ DEBRA L. KEITH
                                                  ------------------------------
                                     Name:        Debra L. Keith
                                                  ------------------------------
                                     Title:       Vice President, Tax
                                                  ------------------------------

                                                  1770 Promontory Circle
                                                  Greeley, Colorado 80634
                                                  Attn: President

                                     Facsimile:   (970) 506-8323

                                     SWIFT BEEF COMPANY

                                     By:          /s/ DEBRA L. KEITH
                                                  ------------------------------
                                     Name:        Debra L. Keith
                                                  ------------------------------
                                     Title:       Vice President, Tax
                                                  ------------------------------

                                                  1770 Promontory Circle
                                                  Greeley, Colorado 80634
                                                  Attn: President

                                     Facsimile:   (970) 506-8323

                                     S&C AUSTRALIA HOLDCO PTY. LTD.

                                     By:          /s/ PATRICK J. KOLEY
                                                  ------------------------------
                                     Name:        Patrick J. Koley
                                                  ------------------------------
                                     Title:       Attorney-in-Fact
                                                  ------------------------------

                                                  c/o Swift & Company
                                                  1770 Promontory Circle
                                                  Greeley, Colorado 80634
                                                  Attn: President

                                     Facsimile:   (970) 506-8323

                                       8
<PAGE>

                                     AUSTRALIA MEAT HOLDINGS PTY. LTD.

                                     By:          /s/ PATRICK J. KOLEY
                                                  ------------------------------
                                     Name:        Patrick J. Koley
                                                  ------------------------------
                                     Title:       Attorney-in-Fact
                                                  ------------------------------

                                                  c/o Swift & Company
                                                  1770 Promontory Circle
                                                  Greeley, Colorado 80634
                                                  Attn: President

                                     Facsimile:   (970) 506-8323

                                     S&C HOLDCO 2, INC.

                                     By:          /s/ PATRICK J. KOLEY
                                                  ------------------------------
                                     Name:        Patrick J. Koley
                                                  ------------------------------
                                     Title:       Attorney-in-Fact
                                                  ------------------------------

                                                  1770 Promontory Circle
                                                  Greeley, Colorado 80634
                                                  Attn: President

                                     Facsimile:   (970) 506-8323

                                     S&C HOLDCO 3, INC.

                                     By:          /s/ PATRICK J. KOLEY
                                                  ------------------------------
                                     Name:        Patrick J. Koley
                                                  ------------------------------
                                     Title:       Attorney-in-Fact
                                                  ------------------------------

                                                  1770 Promontory Circle
                                                  Greeley, Colorado 80634
                                                  Attn: President

                                     Facsimile:   (970) 506-8323

                                       9
<PAGE>

                                    EXHIBIT A
                           WIRE TRANSFER INSTRUCTIONS

                        Bank: JPMorgan Chase Bank, Texas

                                ABA#: 113 000 609

                 Account name: HICKS, MUSE & CO. PARTNERS, L.P.

                             Account #: 088-05113824

                           Reference:
                                      ---------------

                      Attention: Lila McDermed 214-740-7320

                                      A-1

<PAGE>

                                    EXHIBIT B
        PRO RATA SHARE OF ALLOCABLE EXPENDITURES AND RELATED DEFINITIONS

         Pro Rata Share of Allocable Expenditures shall equal the product
obtained by multiplying (i) the sum of all Allocable Expenditures that have not
previously been paid or reimbursed to HMCo by the Clients and other
Participating Acquired Companies, by (ii) a fraction, the numerator of which
shall equal the total amount of Invested Capital (as from time to time
outstanding) that any Fund has invested in the Client's respective securities or
instruments and the denominator of which shall equal the total amount of
Invested Capital (as from time to time outstanding) that any Fund has invested
in the securities or instruments of any and all Participating Acquired
Companies.

The capitalized terms used in the foregoing definitions have the meanings set
forth below:

         Allocable Expenditures shall mean all variable, fixed, and other costs,
expenses, expenditures, charges or obligations (including, without limitation,
letters of credit, deposits, etc.) that are related to assets utilized, services
provided, or programs administered by HMCo or its affiliates in connection with
the performance by HMCo of financial oversight and monitoring services on behalf
of the Clients and other Participating Acquired Companies, including without
limitation corporate airplanes, charitable contributions, retainers for
lobbyists and other professionals, and premiums and finance charges for director
and officer insurance maintained for representatives of HMCo or its affiliates.

         Fund shall mean any one or more of the equity funds now or hereafter
sponsored by Hicks, Muse, Tate & Furst Incorporated or its successors, including
any LP Investment Entity (as defined in the limited partnership agreement for
any such equity fund) formed under or with respect to any such equity fund.

         Invested Capital shall mean the total amount of partner capital that a
Fund from time to time invests in the purchase of securities or instruments of a
Participating Acquired Company, less the total cash distributions that
constitute a return of such partner capital with proceeds from the disposition
of all or any part of such securities or instruments. For each period for which
the Pro Rata Share of Allocable Expenditures is being made, the applicable
Invested Capital shall equal the amount outstanding as of the end of the
respective period.

         Participating Acquired Company shall mean any partnership, corporation,
trust, limited liability company, or other entity that is, for the period for
which the Pro Rata Share of Allocable Expenditures is being determined, a party
to a monitoring agreement or similar contract with HMCo or its affiliates and
is, as of the end of such period, designated by HMCo to bear a portion of such
allocable expenditures. HMCo may, in its sole and absolute discretion, determine
not to designate an entity as a Participating Acquired Company with respect to
such period. HMCo may make such determination of non-designation for no reason
or for any reason, including without limitation the respective entity's
bankruptcy or other temporary or permanent inability to pay fees or expenses to
HMCo or its affiliates.

                                      B-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00044-of-00352.parquet"}]]