Document:

EXHIBIT 10.2

                                  The firm of
                      Providence Financial Services, LLC.
                          An Investment Banking Group
                 225 Greenwich Avenue, Stamford, Ct. 06902-6704
               Telephone (203) 487-7424, Facsimile (203) 487-7428
                         E-mail: providence@hvc.rr.com

                                                       April 8, 2005

Peter Toscano, President
International Power Group, Ltd.
6 Glory Lane
Sussex, New Jersey 07461
Letter of Engagement

Dear Mr. Toscano:
This letter confirms the engagement, effective April 8, 2005 of Providence
Financial Services, LLC ("PFS"), with offices listed above, and International
Power Group, Ltd. (hereinafter, the "BORROWER"), With offices listed above, the
"party", their assigns, or successors of interest, and sets forth, with annexed
appendices "A" and "B", the terms and conditions of such engagement and our
mutual agreement with respect to the financing of six to seventeen (6 to 17)
Waste-to-Energy ("WTE") modules/plants to be purchased from Naanovo Energy Inc.,
for a location in the Republic of Mexico, in the province of Encinada (the
"Project") as follows:

PFS agrees, subject to the terms and conditions hereof, to provide BORROWER with
the services described in Appendix "A" hereto, which provisions are incorporated
herein by reference, (the "Services") at the direction of BORROWER. All
communications from BORROWER concerning this matter shall be made on behalf of
BORROWER in a privileged and confidential manner in keeping with the purpose of
this engagement. BORROWER agrees to pay PFS the fees and other compensation
outlined in Appendix "B" hereto, which provisions are incorporated herein by
reference. In the event BORROWER requests any other services, the terms of such
an engagement must be subject to a further mutual written agreement between the
parties.

In connection with its retention hereunder, PFS has executed the Appendix "C"
hereto, which sets forth it confidentiality obligations. In addition, all
confidential or proprietary information which PFS supplies to the BORROWER in
connection with this engagement will be treated confidentially by the BORROWER,
except as required by applicable law, court, administrative order or the
equivalent.

PFS is entitled to rely upon, and is entitled to assume, the accuracy, validity
and completeness of all information and data disclosed or supplied by BORROWER
or its employees and its representatives. PFS will make no independent effort to
confirm the accuracy, validity, or completeness of any such information or data.
PFS will not, nor is PFS under any obligation to, update any such information or
data.

PFS is not being requested to perform an audit, review or approve the
compilation of financial statements, nor to apply generally accepted legal,
accounting or auditing standards or procedures. PFS's work will be performed on
a "best efforts" basis, that is, that the circumstances of the PFS's engagement
will necessarily cause its advice and/or reports to be limited in various
respects based upon, among other matters, the extent of sufficient and available
data. Any such limitations shall be noted.
<PAGE>
Each party shall defend, indemnify, and hold harmless the other party and its
affiliates, principals, officers, directors, representatives, employees and
agents (each individually as an "indemnitee" and collectively the "indemnitees")
from any and all loss, liability, claim, damage, cost and expense, including
reasonable attorney's fees, suffered or incurred by any indemnitee arising from
any claim by a third party (i.e., other than one of the parties hereto) relating
to the indemnitee's performance of this engagement, arising as a result of this
engagement and/or services provided to or for that party except to the extent
such loss, liability, claim, damage, cost, or expense is the direct result of
the indemnitee's negligence or deliberate and willful misconduct. The provisions
of this paragraph shall survive the termination or expiration of this agreement
and/or any engagement by or on behalf of BORROWER.

Each of the parties agrees for itself and any assignee that it will not directly
or indirectly make any contact with, deal with or otherwise be involved in any
transactions with, and will keep confidential any and all lending, banking and
insurance institutions, trusts, investors, corporations, companies or
individuals, lenders or borrowers, buyers or sellers and any other entities
introduced by the other party, for a period of five (5) years from the date of
this Agreement, or five (5) years from the end of any financing, whichever is
later and such entities and the information pertaining to them is deemed to be
the valuable property of the introducing party. It shall be deemed presumptive
that such introduction was made by PFS in any business transaction where the
entity which was introduced by PFS enters into any contract or agreement or
business, agency, brokerage, representative or any other relationship with
BORROWER directly or indirectly and PFS shall receive a fee equivalent to that
set by this Agreement in any such other transaction. Each party acts in a
fiduciary capacity with respect to the other party described in this agreement,
and the introduced party shall, at all times make full disclosure to the other
party of business dealings between it and any introduced entity. The provisions
of this paragraph shall survive the termination or expiration of this agreement
and/or any engagement by or on behalf of BORROWER. The BORROWER shall notify any
future broker or lender as to where it received prior funding. This permission
will obviate any possibility of an improper circumvention by the BORROWER.
Any controversy or claim arising out of or relating to this Agreement, or any
breach thereof, including any application for injunctive relief, shall be
submitted for and settled by arbitration before the American Arbitration
Association (hereinafter, "AAA"), New York, New York, under the Commercial
Arbitration Rules of the AAA, and judgment upon the award rendered in
arbitration may be entered in any court having jurisdiction thereof; and no
jurisdiction shall exist in any other court, tribunal, forum or agency except to
confirm any award as a judgment. Nothing in this Letter of Engagement shall
obligate BORROWER to enter into an agreement with any third party introduced to
BORROWER for any reason whatsoever. However, for a period of five (5) years from
the date of this Agreement, or five (5) years from the end of any financing,
whichever is later, this agreement is not cancelable and is deemed in full force
and effect upon BORROWER's acceptance of an offer that PFS has caused to occur
through PFS's introduction or presentation, which offer can be accepted only by
BORROWER and only in writing.

Each of the parties represents to the other that it is a corporation or
corporations in good standing, or a limited liability company and has the power
to enter into this agreement by the signatory and is not in conflict with any
other agreement or decree of any court, tribunal or arbitrator.
<PAGE>
This agreement supercedes any prior written or oral agreement between the
parties as to its subject matter, and may be modified only in writing signed by
the parties. This agreement shall be deemed valid and binding when each page has
been signed or initialed by the parties and faxed copies of the signed agreement
have been received by both parties. BORROWER shall forward one original signed
agreement to PFS immediately by overnight delivery service, for next business
day delivery. THIS OFFER SHALL EXPIRE Monday, April 11, 2005, AT 5:00 PM Eastern
Standard Time, IF NOT ACCEPTED BY SUCH DATE AND TIME.

        Very truly yours,
        Providence Financial Services, LLC
         By:    /s/Louis D. Garcia
                        Louis D. Garcia, Member in Charge

        AGREED AND ACCEPTED BY

              International Power Group, Ltd.

               By:       /s/Peter Toscano
                            Peter Toscano, President     Date

<PAGE>

                                  Appendix "A"

                               SCOPE OF SERVICES

PFS is hereby engaged by BORROWER as follows:
1.To provide, introduce and/or supply, a lender and/or investor that will make
a loan and/or investment to be made available to International Power Group,
Ltd., in an amount not to exceed four hundred million ($400,000,000.00) dollars
for 17 WTE units to be purchased from Naanovo Energy Inc., and constructed in
Republic of Mexico.

2.To aid, and/or act, as BORROWER's agent in the acquisition of said collateral.

3.To aid in directing the BORROWER in the collection of all necessary
information required by the Lender(s) and/or investors for a positive
determination to be made.

4. To aid in the acquiring of seed capital if necessary in the sum not to exceed
five million dollars ($5,000,000.00) to be used for any prep work needed be
completed by the BORROWER. Said fees will come through PFS, acting solely as a
"finder" for a bridge funding group ("Bridge Funder").

The services described in Appendix "A" are severable and PFS shall receive its
fee as described in Appendix "B" on any or all of the services.

This Appendix "A" is annexed to certain Letter of Engagement dated April 8, 2005
between PFS as one party and the BORROWER as the other party and is deemed an
integral part of said Letter of Engagement.

<PAGE>
Appendix "B"

FEES AND COMPENSATION

The fee payable to PFS from BORROWER shall be as follows: (1) Fees for the seed
capital will be in cash as follows:

A fee of ten percent (10%), due and payable at the closing of the loan or
investment given to the BORROWER for the seed capital. Said fee will be
considered earned and payable when the money is made available to BORROWER, not
upon signing a term sheet or agreement. The entire payment of the fee will be
made out of the first draw down.

PFS will direct the Bridge Funder (as defined in Appendix "A") at the funding of
the project to hold back PFS's fees and distribute said earned fees directly to
PFS.

(2) Fees for the construction financing will be in cash as follows:
$500,000.00 per unit financed up to 17 units for the project to be built in the
Republic of Mexico. Said total payment for all the units to be financed will
come out the first release of construction funds by the lender.

This documentation will act as such authorization to lender(s) by International
Power Group, Ltd to do so without any further authorization. Payment of all fees
will be made directly out of escrow.

The cash payments as described above shall be paid pursuant to wire instructions
to be provided by PFS.

Expenses of PFS shall be the sole responsibility of PFS, unless travel on behalf
of the BORROWER is deemed necessary and pre- authorized in writing is by
BORROWER. This includes but is not limited to any travel or legal cost incurred
in the acquiring the requested financing/loan. This agreement does not act as an
authorization to undertake any expenses without the express prior written or
faxed consent of the BORROWER. If air travel is deemed necessary and authorized,
PFS will be given business class airfare and $1,000. per day stipend to cover
food and lodging, and ground travel expenses. Any expenses incurred by the
BORROWER with respect to insurance guarantees needed to wrap any contract will
be the total responsibility of the BORROWER. This Appendix "B" is annexed to a
certain Letter of Engagement dated April 8, 2005, between PFS as one party and
the BORROWER as the other party and is deemed an integral part of said Letter of
Engagement.
<PAGE>

                                   Appendix C

                        International Power Group, Ltd.

                                                              April 8, 2005
Providence Financial Services, LLC
225 Greenwich Avenue
Stamford, Ct. 06902-6704

Dear Sirs:

In connection with your engagement with International Power Group, Ltd. (the
"Company"), you have requested that the Company furnish you with certain
confidential information respecting the Company's business, operations and
financial condition. All of such information shall be referred to as the
"Information".

In order to reflect our understanding concerning the terms on which we are
willing to release the Information to you and your officers, directors,
partners, employees, agents, (collectively, "Representatives"), you and we
hereby agree as follows:

1. You hereby acknowledge that the Company is a publicly held concern and is
required to make publicly available any data or financial information regarding
its affairs. In consequence thereof, you hereby acknowledge that the Information
will be received and maintained by you and your Representatives in the strictest
of confidence for use only in the connection with your engagement by the Company
and will not at any time be used by you in your business or operations, or be
disclosed by you or your Representatives (directly or indirectly, in whole or in
part) to any other person or party without obtaining the Company's prior written
permission. In particular, without the Company's prior written consent, you will
not disclose any Information to any person or entity outside your company or to
any person within your company except those Representatives who may reasonably
require access to such Information for the functions related to the engagement.
All Representatives to whom the Information is permitted to be disclosed by the
Company shall be advised of the confidentiality of the Information, instructed
by you not to disclose such Information, and be required to sign a counterpart
hereof or a document acknowledging their agreement to comply with the
restrictions contained herein. You shall be responsible for any misuse or
disclosure of the Information in violation hereof. Any copies of documentation
that are made by you or your Representatives will be marked and treated by you
and your Representatives as confidential documents belonging to the Company
which are not to be copied or used except in accordance herewith.

2. Upon the Company's request, at any time, you will promptly return to the
Company all Information received by you and your Representatives and no copies
thereof or notes, memoranda, computer software, contracts or other documents
prepared by you therefrom (in whole or in part) shall be retained by you or any
of your Representatives, unless the Company expressly agrees in writing
otherwise (all such notes, memoranda, computer software, contracts or other
documents not returned to the Company shall be destroyed). All Information and
all copies thereof (in any medium) in your possession shall remain at all times
the property of the Company.
<PAGE>
3. Neither you nor any of your Representatives to whom the Information is
disclosed shall have any obligation to the Company with respect to any part of
the Information which (a) was in your possession or that of your Representatives
at the time of such disclosure by the Company, (b) becomes available to you or
your Representatives on a non-confidential basis from a source other than the
Company, provided that such source is not bound by a confidentiality agreement
with the Company; or (c) was already known to the general public or subsequently
became known to the general public through no fault or omission on your, or your
Representative's, part.

4. You shall use all reasonable precautions to protect and safeguard the
Information. In the event that you or any of your Representatives are requested
or required (by oral questions, interrogatories, requests for information or
documentation, subpoena or similar processes) by a court of competent
jurisdiction or by a governmental agency to disclose any of the Information, it
is agreed that you will (a) promptly notify the Company of the existence, terms
and circumstances surrounding any such request and cooperate with the Company so
that the Company may, in addition to any other rights or remedies it may have,
seek an appropriate protective order and/or waive compliance by you with the
provisions hereof; and (b) consult with the Company on the advisability of
taking steps to resist or narrow the request. If, in the absence of a protective
order or the receipt of a waiver hereunder, you are nonetheless, in the opinion
of your legal counsel, legally required to disclose the Information, you shall
furnish only that portion of the Information as you are advised by your legal
counsel is legally required to be disclosed in order to prevent you from being
held liable for contempt or other censure or penalty.

5. You shall indemnify and hold the Company harmless as well as its officers,
directors, shareholders, partners, employees, agents, attorneys, accountants,
consultants, bankers, financial advisors and each of their respective successors
and assigns from and against any and all loss, claim, damage, cost, expense,
liability, suit or cause of action of any nature whatsoever, including, without
limitation, all costs or defenses thereof, including reasonable attorneys' fees,
in any way caused by or arising from a breach by you or any of your
Representatives of any of the obligations hereunder. In addition to the
foregoing indemnification, the Company shall be entitled to pursue any other
remedy available to it at law or in equity and, without limiting the
non-exclusivity of the remedies available to the Company, the Company and you
expressly acknowledge and agree that the Company shall be entitled to enforce
your obligation of confidentiality and non-disclosure of all Information through
injunctive relief and that the use of such injunctive relief is an appropriate
remedy hereunder. No failure or delay by the Company 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 right, power or privilege hereunder.

6. Your obligations hereunder shall not expire or terminate by reason of the
discontinuance of your engagement. This letter agreement shall be binding upon
all of your designees or transferees and successors in interest and shall be
governed by the laws of the State of New York (without regard to the principles
of conflicts of laws).
<PAGE>

7. The provisions hereof shall be severable in the event that any of the
provisions hereof are held by a court of competent jurisdiction to be invalid,
void or otherwise unenforceable and the remaining provisions shall remain
enforceable to the fullest extent permitted by law. This agreement may be
waived, amended or modified only by an instrument in writing signed by the party
against which such waiver, amendment or modification is to be enforced and such
written instrument shall set forth specifically the provisions hereof that are
to be so waived, amended or modified.

Please indicate acceptance of this confidentiality agreement by signing and
dating in the space indicated below.

                                           Very truly yours,

                                           International Power Group, Ltd.
                                           By:     /s/Peter N. Toscano

                                           Name:  Peter N. Toscano
                                           Title:    President/CEO

Accepted and Agreed to this
8 day of April 2005:

Providence Financial Services, LLC

By: /s/ Louis D. Garcia
     Name: Louis D. Garcia
     Title: Managing Partner

CONTRACT NUMBER TWO THOUSAND FOUR HUNDRED THIRTY-THREE VOLUME XXXI ORDINARY
<PAGE>Exhibit 10.1

 

EMPLOYMENT AGREEMENT

 

THIS
AGREEMENT, dated as of July 18, 2005, by and between B&G FOODS, INC.,
(hereinafter “Corporation”) and Scott E. Lerner (hereinafter “Lerner”).

 

WHEREAS,
subject to the terms of this Agreement, the Corporation desires to secure the
services of Lerner as Vice President, General Counsel and Secretary
(hereinafter “Vice President, General Counsel and Secretary”), and Lerner
desires to accept such employment.

 

NOW
THEREFORE, in consideration of the material advantages accruing to the two
parties and the mutual covenants contained herein, the Corporation and Lerner
agree with each other as follows:

 

1.                                       Effective Date.  For purposes of this Agreement,
the “Effective Date” shall mean July 18, 2005.

 

2.                                       Employment. Lerner will render full-time professional services to the Corporation
and, as directed by the Corporation, to its subsidiaries or other Affiliates
(as defined in Paragraph 3 below), in the capacity of Vice President, General
Counsel and Secretary under the terms and conditions of this Agreement.  He will at all times, faithfully,
industriously and to the best of his ability, perform all duties that may be
required of him by virtue of his position as Vice President, General Counsel
and Secretary and in accordance with the directions and mandates of the Board
of Directors of the Corporation.  It is
understood that these duties shall be substantially the same as those of a vice
president, general counsel and secretary of a similar business corporation
engaged in a similar enterprise. Lerner is hereby vested with authority to act
on  behalf of the Corporation in keeping
with policies adopted by the Board of Directors, as amended from time to
time.  Lerner shall report to the
President and Chief Executive Officer (hereinafter the “Chief Executive Officer”)
and the Board of Directors.

 

3.                                       Services to Subsidiaries or Other Affiliates. The Corporation and Lerner understand and agree
that if and when the Corporation so directs, the Vice President, General
Counsel and Secretary shall also provide services to any subsidiary or other
Affiliate (as defined below) by virtue of his employment under this
Agreement.  If so directed, Lerner agrees
to serve as Vice President, General Counsel and Secretary of such subsidiary or
other Affiliate, including, but not limited to, the parent corporation, if any,
of the Corporation, as a condition of his employment under this Agreement, and
upon the termination of his employment under this Agreement, Lerner shall no
longer provide such services to the subsidiary or other Affiliate. The parties
recognize and agree that Lerner shall perform such services as part of his
overall professional services to the Corporation but that in certain
circumstances approved by the Corporation he may receive additional
compensation from such subsidiary or other Affiliate.  For purposes of this Agreement, an “Affiliate”
is any corporation or other entity that is controlled by, controlling or under
common control with the Corporation. “Control” means the direct or indirect
beneficial ownership of at least fifty (50%) percent interest in the income of
such corporation or entity, or the power to elect at least fifty (50%) percent
of the directors of such corporation or entity, or such other relationship
which in fact constitutes actual control.

 

 

4.                                       Term of Agreement. The term of Lerner’s employment under this
Agreement shall be two (2) years from the Effective Date; provided that
unless notice of termination has been provided in accordance with Paragraph 7(a) at
least sixty (60) days prior to the expiration of the initial two (2) year
term or any additional twelve (12) month term (as provided below), or unless
this Agreement is otherwise terminated in accordance with the terms of this
Agreement, this Agreement shall automatically be extended for additional twelve
(12) month periods (the “Term”).

 

5.                                       Base Compensation. During the Term, in consideration for the
services as Vice President, General Counsel and Secretary required under this
Agreement, the Corporation agrees to pay Lerner an annual base salary of Two
Hundred and Twenty Thousand Dollars ($220,000), or such higher figure as may be
determined at an annual review of his performance and compensation by the
Compensation Committee of the Board of Directors.  The annual review of Lerner’s base salary
shall be conducted by the Compensation Committee of the Board of Directors
within a reasonable time after the end of each fiscal year of the Corporation
and any increase shall be retroactive to January 1st of the
then current Agreement year. The amount of annual base salary shall be payable
in equal installments consistent with the Corporation’s payroll payment schedule for
other executive employees of the Corporation. Lerner may choose to select a
portion of his compensation to be paid as deferred income through qualified
plans or other programs consistent with the policy of the Corporation and
subject to any and all applicable federal, state or local laws, rules or
regulations.

 

6.                                       Other Compensation and Benefits. During the Term, in addition to his base salary,
the Corporation shall provide Lerner the following:

 

(a)                                  Incentive
Compensation. Lerner shall participate in an annual incentive compensation
plan (the “Incentive Compensation Plan”), as shall be adopted and/or modified from
time to time by the Board of Directors. Incentive compensation awards are
calculated as a percentage of Lerner’s base salary on the last day of the
Incentive Compensation Plan performance period. The percentages of base salary
that Lerner is eligible to receive based on performance are 25 % at “Threshold”
and 50 % at “Target”, as such terms are defined in the Incentive Compensation
Plan. Notwithstanding the foregoing, for the performance period in which the
Effective Date occurs, Lerner’s incentive compensation award shall be equal to
his incentive compensation award as if he had been employed by the Corporation
for the entire performance period in which the Effective Date occurs, and
applying the percentages set forth above to his Base Salary as of January 1,
2006, multiplied by a fraction, the numerator of which is the number of days
transpired in the performance period beginning on the Effective Date and the
denominator of which is the number of days in the entire performance period.  Incentive compensation awards are payable no
later than ninety (90) days following the end of each fiscal year of the
Corporation.  In addition, Lerner shall
be eligible to participate in the Corporation’s 2004 Long-Term Incentive Plan
and all other incentive compensation plans, if any, that may be adopted by the
Corporation from time to time and with respect to which the other executive
employees of the Corporation are eligible to participate.

 

(b)                                 Vacation.
Lerner shall be entitled to four (4) weeks of compensated vacation time
during each year, to be taken at times mutually agreed upon between him and the
Chief

 

2

 

Executive Officer of the Corporation.  Vacation accrual shall be limited to the
amount stated in the Corporation’s policies currently in effect, as amended
from time to time.

 

(c)                                  Sick Leave and
Disability. Lerner shall be entitled to participate in such compensated
sick leave and disability benefit programs as are offered to the Corporation’s
other executive employees.

 

(d)                                 Medical and Dental
Insurance. Lerner, his spouse, and his dependents, shall be entitled to
participate in such medical and dental insurance programs as are provided to
the Corporation’s other executive employees.

 

(e)                                  Executive Benefits And Perquisites.
Lerner shall be entitled to receive all other executive benefits and
perquisites to which all other executive employees of the Corporation are
entitled.

 

(f)                                    Automobile and
Cellular Phone. The Corporation agrees to provide Lerner with a monthly
automobile allowance of $833.33 and to provide for the use by Lerner of a
cellular telephone at the Corporation’s expense.

 

(g)                                 Liability Insurance.
The Corporation agrees to insure Lerner under the appropriate liability
insurance policies, in accordance with the Corporation’s policies and
procedures, for all acts done by him within the scope of his authority in good
faith as Vice President, General Counsel and Secretary throughout the Term.

 

(h)                                 Professional
Meetings and Conferences. Lerner will be permitted to be absent from the
Corporation’s facilities during working days to attend professional meetings
and such continuing education programs as are necessary for Lerner to maintain
such professional licenses and certifications as are required in the performance
of his duties under this Agreement, and to attend to such outside professional
duties as have been mutually agreed upon between him and the Chief Executive
Officer of the Corporation.  Attendance
at such approved meetings and programs and accomplishment of approved
professional duties shall be fully compensated service time and shall not be
considered vacation time. The Corporation shall reimburse Lerner for all
reasonable expenses incurred by him incident to attendance at approved
professional meetings and continuing education programs, and such reasonable
entertainment expenses incurred by Lerner in furtherance of the Corporation’s
interests; provided, however, that such reimbursement is approved by the Chief
Executive Officer of the Corporation.

 

(i)                                     Registration Fees and Professional Dues.
The Corporation shall reimburse Lerner for registration fees for such
professional licenses and certifications as are required in the performance of
his duties under this Agreement, including bar registration fees for the States
of New Jersey and New York.  In addition,
the Corporation agrees to pay dues and expenses to professional associations
and societies and to such community and service organizations of which Lerner is
a member provided such dues and expenses are approved by the Chief Executive
Officer as being in the best interests of the Corporation.

 

3

 

(j)                                     Life Insurance.
The Corporation shall provide Lerner with life insurance coverage on the same
terms as such coverage is provided to all other executive employees of the
Corporation.

 

(k)                                  Business Expenses.
The Corporation shall reimburse Lerner for reasonable expenses incurred by the
Vice President, General Counsel and Secretary in connection with the conduct of
business of the Corporation and its subsidiaries or other Affiliates.

 

7.                                       Termination Without Cause.

 

(a)                                  By the Corporation.
The Corporation may, in its discretion, terminate Lerner’s employment hereunder
without cause at any time upon sixty (60)
days prior written notice or at such later time as may be specified in said
notice.  Except as otherwise provided in
this Agreement, after such termination, all rights, duties and obligations of
both parties shall cease.

 

(i)                                     Upon the
termination of employment pursuant to subparagraph (a) above, subject to
the terms in subparagraph (ii) and Paragraph 9 below and the requirements
of Paragraph 10 below, in addition to all accrued and vested benefits payable
under the Corporation’s employment and benefit policies, including, but not
limited to, unpaid incentive compensation awards earned under the Incentive
Compensation Plan for any completed performance periods, Lerner shall be
provided with the following Salary Continuation and Other Benefits for the
duration of the Severance Period (as defined below):  (1) current annual base salary and
incentive compensation awards earned at the threshold amount shall be paid
during the Severance Period (“Salary Continuation”), which Salary Continuation
shall be paid in the same manner and pursuant to the same payroll procedures
that were in effect prior to the effective date of termination; (2) continuation
of medical, dental, life insurance and disability insurance for him, his spouse
and his dependents, during the Severance Period, as in effect on the effective
date of termination (“Other Benefits”), or if the continuation of all or any of
the Other Benefits is not available because of his status as a terminated
employee, a payment equal to the market value of such excluded Other Benefits; (3) if
allowable under the Corporation’s qualified pension plan in effect on the date
of termination, credit for additional years of service during the Severance
Period; and (4) outplacement services of an independent third party,
mutually satisfactory to both parties, until the earlier of one year after the
effective date of termination, or until he obtains new employment; the cost for
such service will be paid in full by the Corporation.  For purposes of this Agreement (except for
Paragraph 9 below), the “Severance Period” shall mean the period from the date
of termination of employment to the first (1st) anniversary of the date of such
termination.

 

(ii)                                  Subject to Paragraph
10 below, in the event Lerner accepts other employment during the Severance
Period, the Corporation shall continue the Salary Continuation in force until
the end of the Severance Period. All Other Benefits described in subparagraph
(i)(2) and the benefit set forth in (i)(3), other than all accrued and
vested benefits payable under the Corporation’s employment and benefit
policies, shall cease.

 

(iii)                               Lerner shall not be
required to seek or accept any other employment. Rather, the election of
whether to seek or accept other employment shall be solely within

 

4

 

Lerner’s discretion. If during the Severance
Period Lerner is receiving all or any part of the benefits set forth in
subparagraph (i) above and he should die, then Salary Continuation
remaining during the Severance Period shall be paid fully and completely to his
spouse or such individual designated by him or if no such person is designated
to his estate.

 

(b)                                 Release. The
obligation of the Corporation to provide the Salary Continuation and Other
Benefits described in subparagraph (a) above is contingent upon and
subject to the execution and delivery by Lerner of a general release, in form
and substance satisfactory to Lerner and the Corporation.  Without limiting the foregoing, such general
release shall provide that for and in consideration of the above Salary
Continuation and Other Benefits, Lerner releases and gives up any and all
claims and rights ensuing from his employment and termination with the
Corporation, which he may have against the Corporation, a subsidiary or other
Affiliate, their respective trustees, officers, managers, employees and agents,
arising from or related to his employment and/or termination.  This releases all claims, whether based upon
federal, state, local or common law, rules or regulations.  Such release shall survive the termination or
expiration of this Agreement.

 

(c)                                  Voluntary
Termination.  Should Lerner in his
discretion elect to terminate this Agreement, he shall give the Corporation at
least sixty (60) days prior written notice of his decision to terminate. Except
as otherwise provided in this Agreement, at the end of the sixty (60) day
notice period, all rights, duties and obligations of both parties to the
Agreement shall cease, except for any and all accrued and vested benefits under
the Corporation’s existing employment and benefit policies, including but not
limited to, unpaid incentive compensation awards earned under the Incentive
Compensation Plan for any completed performance periods. At any time during the
sixty (60) day notice period, the Corporation may pay Lerner for the
compensation owed for said notice period and in any such event Lerner’s
employment termination shall be effective as of the date of the payment.

 

(d)                                 Good Reason. If (i) the Board
of Directors of the Corporation or the Chief Executive Officer, in either of
their sole discretion, takes action which substantially changes or alters
Lerner’s authority or duties so as to effectively prevent him from performing
the duties of the Vice President, General Counsel and Secretary as defined in
this Agreement, or requires that his office be located at and/or principal
duties be performed at a location more than forty-five (45) miles from the
present Corporation offices located in Parsippany, New Jersey, or (ii) the
Corporation materially breaches any of the terms of this Agreement, then Lerner
may, at his option and upon written notice to the Board of Directors and the
Chief Executive Officer within thirty (30) days after the Board’s or Chief
Executive Officer’s action or such material breach, consider himself terminated
without cause and, subject to Paragraph 9 of this Agreement, shall be entitled
to the benefits set forth in subparagraph 7(a), unless within fifteen (15) days
after delivery of such notice, Lerner’s duties have been restored, the office
where his principal duties are to be performed is restored to within forty-five
(45) miles from the present Corporation offices in Parsippany, New Jersey, or
such material breach has been cured, as applicable.

 

5

 

(e)                                  Disability.

 

(i)                                     The Corporation,
in its sole discretion, may terminate Lerner’s employment upon his Total
Disability. In the event he is terminated pursuant to this subparagraph, he
shall be entitled to the benefits set forth in subparagraph 7(a), provided
however, that the annual base salary component of Salary Continuation shall be
reduced by any amounts paid to Lerner under any disability benefits plan or
insurance policy. For purposes of this Agreement, the term “Total Disability”
shall mean death or any physical or mental condition which prevents Lerner from
performing his duties under this contract for at least four (4) consecutive
months. The determination of whether or not a physical or mental condition
would prevent Lerner from the performance of his duties shall be made by the
Board of Directors in its discretion. If requested by the Board of Directors,
Lerner shall submit to a mental or physical examination by an independent
physician selected by the Corporation and reasonably acceptable to him to
assist the Board of Directors in its determination, and his acceptance of such
physician shall not be unreasonably withheld or delayed.  Failure to comply with this request shall
prevent him from challenging the Board’s determination.

 

(f)                                    Retirement.
The Corporation, in its sole discretion, may establish a retirement policy for
its executive employees, including Lerner, which includes the age for mandatory
retirement from employment with the Corporation. Upon the termination of
employment pursuant to such retirement policy, all rights and obligations under
this Agreement shall cease, except that Lerner shall be entitled to any and all
accrued and vested benefits under the Corporation’s existing employment and
benefits policies, including but not limited to unpaid incentive compensation
awards earned under the Incentive Compensation Plan for any completed
performance periods.

 

(g)                                 Other Payments.  If Lerner is liable for the payment of any
excise tax (the “Excise Tax”) pursuant to section 4999 of the Internal
Revenue Code of 1986, as amended (the “Code”), or any successor or like
provision, with respect to any payment or property transfers received or to be
received under this Agreement or otherwise, the Corporation shall pay Lerner an
amount (the “Special Reimbursement”) which, after payment of any federal, state
and local taxes, including any further excise tax under Code section 4999,
with respect to or resulting from the Special Reimbursement, would place Lerner
in the same economic position that he would have enjoyed if the Excise Tax had
not applied to such payments.

 

8.                                       Termination for Cause. Lerner’s employment under this Agreement may be
terminated by the Corporation, immediately upon written notice in the event and
only in the event of the following conduct: 
conviction of a felony or any other crime involving moral turpitude,
whether or not relating to Lerner’s employment; habitual unexcused absence from
the facilities of the Corporation; habitual substance abuse; willful disclosure
of material confidential information of the Corporation and/or its subsidiaries
or other Affiliates; intentional violation of conflicts of interest policies
established by the Board of Directors; wanton or willful failure to comply with
the lawful written directions of the Board or other superiors; and willful
misconduct or gross negligence that results in damage to the interests of the
Corporation and its subsidiaries or other Affiliates. Should any of these
situations occur, the Board of Directors and/or the Chief Executive Officer
will provide Lerner written notice specifying the effective date of such

 

6

 

termination. Upon the effective
date of such termination, any and all payments and benefits due Lerner under
this Agreement shall cease except for any accrued and vested benefits payable
under the Corporation’s employment and benefit policies, including any unpaid
amounts owed under the Incentive Compensation Plan.

 

9.                                       Major Transaction. If, during the Term, the Corporation consummates
a Major Transaction and Lerner is not the Vice President, General Counsel and
Secretary with duties and responsibilities substantially equivalent to those
described herein and/or is not entitled to substantially the same benefits as
set forth in this Agreement, then Lerner shall have the right to terminate his
employment under this Agreement and shall be entitled to the benefits set forth
in subparagraph 7(a), except that the Severance Period shall mean the period
from the date of termination of employment to the second (2nd) anniversary of
the date of such termination.  Lerner
shall provide the Corporation with written notice of his desire to terminate
his employment under this Agreement pursuant to this Paragraph within one
hundred and twenty (120) days of the effective date of the Major Transaction
and the Severance Period shall commence as of the effective date of the
termination of this Agreement.  For
purposes of this Paragraph, “Major Transaction” shall mean the sale of all or
substantially all of the assets of the Corporation, or a merger, consolidation,
sale of stock or similar transaction or series of related transactions whereby
a third party (including a “group” as defined in Section 13(d)(3) of
the Securities Exchange Act of 1934, as amended) acquires beneficial ownership,
directly or indirectly, of securities of the Corporation representing over
fifty percent (50%) of the combined voting power of the Corporation; provided,
however, that a Major Transaction shall not in any event include a direct or
indirect public offering of securities of the Corporation, its parent or other
Affiliates.

 

10.                                 Non-Competition.  Lerner agrees that during (i) the
Term; (ii) the one (1) year period following the effective date of
termination of this Agreement by Lerner pursuant to Paragraph 7(c) (Voluntary
Termination); or (iii) the one (1) year period following the
effective date of termination by the Corporation pursuant to Paragraph 8
(Termination For Cause), he shall not, directly or indirectly, be employed or
otherwise engaged to provide services to any food manufacturer operating in the
United States of America which is directly competitive with any significant
activities conducted by the Corporation or its subsidiaries or other Affiliates
whose principal business operations are in the United States of America.  Lerner agrees that his entitlement to the
benefits set forth in subparagraph 7(a) above is contingent upon his
compliance with the requirements of this Paragraph.

 

11.                                 Confidentiality of Information. Lerner recognizes and acknowledges that during
his employment by the Corporation, he will acquire certain proprietary and
confidential information relating to the business of the Corporation and its
subsidiaries or other Affiliates (the “Information”). Lerner agrees that during
the term of his employment under this Agreement and thereafter, for any reason
whatsoever, he shall not, directly or indirectly, except in the proper course
of exercising his duties under this Agreement, use for his or another third
party’s benefit, disclose, furnish, or make available to any person,
association or entity, the Information. In the event of a breach or threatened
breach by Lerner of the provisions of this Paragraph, the Corporation shall be
entitled to an injunction restraining him from violating the provisions of this
Paragraph. Notwithstanding the foregoing, nothing contained herein shall be
construed as

 

7

 

prohibiting the Corporation from
pursuing any other remedies available to it for such breach or threatened
breach. For purposes of this Paragraph, “Information” includes any and all
verbal or written materials, documents, information, products, processes,
technologies, programs, trade secrets, customer lists or other data relating to
the business, and operations of the Corporation and/or its subsidiaries or
other Affiliates.

 

12.                                 Superseding Agreement. This Agreement constitutes the entire agreement
between the parties and contains all the agreements between them with respect
to the subject matter hereof. It also supersedes any and all other agreements
or contracts, either oral or written, between the parties with respect to the
subject matter hereof.

 

13.                                 Agreement Amendments.  Except as
otherwise specifically provided, the terms and conditions of this Agreement may
be amended at any time by mutual agreement of the parties, provided that before
any amendment shall be valid or effective, it shall have been reduced to
writing, approved by the Board of Directors or the Compensation Committee of
the Board of Directors, and signed by the Chairperson of the Board of Directors
or the Chief Executive Officer and Lerner.

 

14.                                 Invalidity or Unenforceability Provision.  The
invalidity or unenforceability of any particular provision of this Agreement
shall not affect its other provisions and this Agreement shall be construed in
all aspects as if such invalid or unenforceable provision had been omitted.

 

15.                                 Binding Agreement; Assignment. This
Agreement shall be binding upon and inure to the benefit of the Corporation and
Lerner, their respective successors and permitted assigns. The parties
recognize and acknowledge that this Agreement is a contract for the personal
services of Lerner and that this Agreement may not be assigned by him nor may
the services required of him hereunder be performed by any other person without
the prior written consent of the Corporation.

 

16.                                 Governing Law. This Agreement shall be construed and enforced under and in accordance
with the laws of the State of New Jersey, without regard to conflicts of law
principles.

 

17.                                 Enforcing Compliance. If Lerner needs to retain legal counsel to
enforce any of the terms of this Agreement either as a result of noncompliance
by the Corporation or a legitimate dispute as to the provisions of the
Agreement, then any fees incurred in such expense by Lerner shall be reimbursed
wholly and completely by the Corporation if Lerner prevails in such legal
proceedings.

 

18.                                 Notices. All notices, requests, demands and other communications hereunder shall
be in writing and shall be deemed effective when delivered, if delivered in
person, or upon receipt if mailed by overnight courier or by certified or
registered mail, postage prepaid, return receipt requested, to the parties at
the addresses set forth below, or at such other addresses as the parties may
designate by like written notice:

 

8

 

	
  To the
  Corporation at:

  	
   

  	
  B&G Foods,
  Inc

  
	
   

  	
   

  	
  Four Gatehall Drive

  
	
   

  	
   

  	
  Suite 110

  
	
   

  	
   

  	
  Parsippany, NJ
  07054

  
	
   

  	
   

  	
   

  
	
  To Lerner at:

  	
   

  	
  his then current
  address included in the employment records of the Corporation

  

 

[Signatures on Next Page]

 

9

 

IN WITNESS WHEREOF, the Corporation and Lerner have executed
this Agreement as of the day and year first above written.

 

	
   

  	
  B&G FOODS,
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ David L.
  Wenner

  
	
   

  	
  Name: David L.
  Wenner

  
	
   

  	
  Title: President
  and Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Scott E.
  Lerner

  
	
   

  	
  Scott E. Lerner

  

 

10

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