Document:

<PAGE>

                                                                   Exhibit 10.18

                           ICON HEALTH & FITNESS, INC.
                      JUNIOR MANAGEMENT DEFERRED BONUS PLAN

                         (EFFECTIVE SEPTEMBER 27, 1999)

1.       PURPOSE AND EFFECTIVE DATE

         The purpose of this Plan is to set forth the terms and conditions under
which certain members of management will become entitled to an amount of
deferred bonus (the "Deferred Bonus Amount") in consideration for their past
service to the Company. This Plan is effective September 27, 1999. The Plan is
intended to be "a plan which is unfunded and is maintained by an employer
primarily for the purpose of providing deferred compensation for a select group
of management or highly compensated employees" within the meaning of sections
201(2), 301(a)(3), 401(a)(1) and 4021(b)(6) of the Employee Retirement Income
Security Act of 1974, as amended ("ERISA"), and shall be administered in a
manner consistent with that intent.

2.       DEFINITIONS

         (a) "Beneficiary" means the person (which may include trusts and is not
limited to one person) designated by the Participant, in such manner as
prescribed by the Plan Administrator, who shall be entitled to receive payment
of the Participant's Deferred Bonus Account in the event of the Participant's
death. If no such designation is made, or if the designated person predeceases
the Participant, payment shall be made to the Participant's estate.

         (b) "Code" means the Internal Revenue Code of 1986 as amended from time
to time.

         (c) "Committee" means the Compensation Committee of the Board of
Directors of the Company or if no such committee has been designated, the Board.

         (d) "Company" means ICON Health & Fitness, Inc.

         (e) "Deferred Bonus Account" means the account described in Section 3.

         (f) "Effective Date" means September 27, 1999.

         (g) "Liquidity Event" has the meaning set forth in the Stockholders
Agreement.

         (h) "Participant" means each of the members of management of the
Company listed on the schedules hereto.
<PAGE>

         (i) "Plan" means the ICON Health & Fitness, Inc. 1999 Junior Management
Deferred Bonus Plan as set forth herein and as from time to time amended.

         (j) "Plan Administrator" means the Committee.

         (k) "Option Agreements" means the Non-Incentive Option Certificates
dated as of September 27, 1999 between HF Holdings, Inc. and each of the
Participants.

         (l) "Stockholders Agreement" means the Stockholders Agreement dated as
of September 27, 1999 among the Company, HF Holdings, Inc. and the stockholders
of HF Holdings, Inc.

Other terms are defined as provided throughout this Plan.

3.       DEFERRED BONUS ACCOUNT

         The Company shall establish on its books a Deferred Bonus Account for
each Participant as of the Effective Date. The amount credited to each such
Account shall be the amount set forth on Schedule A hereto, and shall not be
adjusted for interest or otherwise, except to reflect distributions made to a
Participant or his or her Beneficiary. 25% of the amount credited to such
Account shall be fully vested as of the Effective Date, and 25% of such amount
shall become vested on the each of the first, second and third anniversaries of
the Effective Date, provided the Participant remains employed by HF Holdings,
Inc., the Company or any of their subsidiaries on each such date, and provided
further that upon the termination of the Plan, or the termination of any
Participant's participation pursuant to Section 12, prior to the third
anniversary of the Effective Date, 100% of the amount credited to such Account
shall become fully vested if the Participant is then so employed. The entire
amount credited to a Participant's Deferred Bonus Account shall become vested
upon the occurrence of a Liquidity Event, provided the Participant remains
employed by HF Holdings, Inc., the Company or any of their subsidiaries on such
date.

4.       DISTRIBUTIONS.

         The vested amount credited to a Participant's Deferred Bonus Account
shall become payable to the Participant (or the Participant's Beneficiary, in
the event of death) upon the earliest to occur after the date hereof (each, a
"Payment Date") of (i) a Liquidity Event in which the consideration received by
holders of the common stock of HF Holdings, Inc. in respect of each share of
such common stock is greater than the exercise price at that time in effect
under the Option Agreement between HF Holdings, Inc. and such Participant,
provided the Participant is at such time employed by HF Holdings, Inc., the
Company or any of their subsidiaries, (ii) ten years and one hundred and eighty
(180) days after the date hereof, provided the Participant is at such time
employed by HF Holdings, Inc., the Company or any of their subsidiaries, or
(iii) an exercise by the Company of a call option pursuant to Section 3
<PAGE>

of the Joinder and Supplement to Stockholders Agreement among the Company, HF
Holdings, Inc. and such Participant.

5.       FORM OF PAYMENT; TIMING

         The Company shall pay, or cause one or more of its affiliates to pay,
the amount due to a Participant or Beneficiary hereunder in cash in a single
lump sum payment as soon as administratably practicable following a Payment Date
with respect to the Participant, which in no case shall be more than 30 days
following the Payment Date. The Participant's Deferred Bonus Account will be
reduced by the amount of the payment (including any amount under Section 9
below).

6.       ADMINISTRATION OF THE PLAN

         This Plan shall be administered by the Committee, which shall have full
discretion to administer and interpret the Plan in accordance with its terms in
all respects.

7.       NATURE OF CLAIM FOR PAYMENTS

         Except as herein provided, the Company shall not be required to set
aside or segregate any assets of any kind to meet any of its obligations
hereunder, and all obligations of the Company hereunder shall be reflected by
book entries only. The Participant shall have no rights on account of this Plan
in or to any specific assets of the Company. Any rights that the Participant may
have on account of this Plan shall be those of a general, unsecured creditor of
the Company.

8.       RIGHTS ARE NON-ASSIGNABLE

         Other than by will or the laws of descent and distribution, neither the
Participant nor any Beneficiary nor any other person shall have any right to
assign or otherwise alienate the right to receive payments hereunder, in whole
or in part, which payments are expressly agreed to be non-assignable and
non-transferable, whether voluntarily or involuntarily.

9.       TAXES

         If the Company is required to withhold taxes from payments under the
Plan pursuant to federal, state or local law, the amounts payable to
Participants shall be reduced by the tax so withheld.

10.      TERMINATION; AMENDMENTS

         The Plan shall continue in effect until terminated by action of the
Company's Board of Directors. Upon termination of the Plan, no individual not a
Participant as of the date of
<PAGE>

termination shall become a Participant thereafter. If, at the time of
termination, there is any Participant or Beneficiary of a Participant who is or
will be entitled to a payment hereunder, the Plan Administrator shall elect
either (a) to make payments to such Participants or beneficiaries in the normal
course as if the Plan had continued in effect, or (b) to pay to such
Participants or beneficiaries the balance in the Participant's Deferred Bonus
Account in a single lump-sum payment.

         The Committee and Participants entitled to a majority of the aggregate
Deferred Bonus Accounts may at any time and from time to time amend the Plan in
any manner; provided that, subject to Section 12, without the consent of a
Participant, no such action shall materially and adversely affect the rights of
such Participant with respect to any rights to payment of amounts credited to
such Participant's Deferred Account, including by reducing the amounts
previously credited to the Deferred Bonus Account of such Participant or
otherwise.

11.      EMPLOYMENT RIGHTS

         Nothing in this Plan shall give any Participant any right to be
employed or to continue employment by HF Holdings, Inc., the Company or any of
their subsidiaries.

12.      CHANGE IN OR INTERPRETATION OF LAW

         In the event of any change in or interpretation of law which, in the
opinion of counsel acceptable to the Plan Administrator, would cause the Plan to
be other than an unfunded plan maintained primarily for the purpose of providing
deferred compensation for a select group of management or highly compensated
employees (such an unfunded plan being hereinafter referred to as an "exempt
plan") and to be subject to the funding requirements of Title I of ERISA, the
Plan Administrator may terminate the participation of such Participants as may
be necessary to preserve or restore the Plan's status as an exempt plan and may
accelerate payment of their Deferred Bonus Accounts or take such other action as
may be necessary to preserve or restore such status, provided that in any such
case the Company shall use its reasonable best efforts to provide any affected
Participant with benefits reasonably equivalent to those to which he or she
would have been entitled pursuant to the Plan.

13.      GOVERNING LAW

         The validity, construction and effect of the Plan and any rules and
regulations relating to the Plan shall be determined in accordance with the laws
of the State of Delaware.

14.      SUCCESSORS

         This Plan shall inure to the benefit of and be binding upon the
Participant and the Company and their respective personal or legal
representatives, executors, administrators, and
<PAGE>

successors and assigns, including successors to all or substantially all of the
stock, business and/or assets, of the Company.

15.      CONSENT TO JURISDICTION

         Each party to this Agreement, by its execution hereof, (x) hereby
irrevocably submits to the non-exclusive jurisdiction of the state courts of the
State of Utah sitting in the County of Salt Lake or the United States District
Court of Utah for the purpose of any action, claim, cause of action or suit (in
contract, tort or otherwise), inquiry, proceeding or investigation arising out
of or based upon this Agreement or relating to the subject matter hereof, (y)
hereby waives to the extent not prohibited by applicable law, and agrees not to
assert, and agrees not to allow any of its subsidiaries to assert, by way of
motion, as a defense or otherwise, in any such action, any claim that it is not
subject personally to the jurisdiction of the above-named courts, that its
property is exempt or immune from attachment or execution, that any such
proceeding brought in one of the above-named courts is improper, or that this
Agreement or the subject matter hereof or thereof may not be enforced in or by
such court and (z) hereby agrees not to make any motion or take any other action
seeking or intending to cause the transfer or removal of any such action, claim,
cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or
investigation to any court other than one of the above-named courts whether on
the grounds of inconvenient forum or otherwise. Each party hereto hereby
consents to service of process in any such proceeding in any manner permitted by
Utah law, and agrees that service of process by registered or certified mail,
return receipt requested, at its address specified pursuant to the Stockholders
Agreement is reasonably calculated to give actual notice.

16.      WAIVER OF JURY TRIAL

         TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED,
EACH PARTICIPANT HERETO HEREBY WAIVES AND COVENANTS THAT IT WILL NOT ASSERT
(WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY
FORUM IN RESPECT OF ANY ISSUE OR ACTION, CLAIM, CAUSE OF ACTION OR SUIT (IN
CONTRACT, TORT OR OTHERWISE), INQUIRY, PROCEEDING OR INVESTIGATION ARISING OUT
OF OR BASED UPON THIS AGREEMENT OR THE SUBJECT MATTER HEREOF OR IN ANY WAY
CONNECTED WITH OR RELATED OR INCIDENTAL TO THE TRANSACTIONS CONTEMPLATED HEREBY,
IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING. THE COMPANY AND EACH
PARTICIPANT ACKNOWLEDGES THAT IT HAS BEEN INFORMED THAT THIS SECTION 16
CONSTITUTES A MATERIAL INDUCEMENT UPON WHICH THEY ARE RELYING AND WILL RELY IN
ENTERING INTO THIS AGREEMENT. THE COMPANY AND EACH PARTICIPANT MAY FILE AN
ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 16 WITH ANY COURT AS WRITTEN
EVIDENCE OF CONSENT TO THE WAIVER OF THE RIGHT TO TRIAL BY JURY.
<PAGE>

17.      ATTORNEYS FEES

         In the event of a dispute by the Company, the Participant or others as
to the validity or enforceability of, or liability under, any provision of this
Plan, the Company shall reimburse the Participant for all legal fees and
expenses incurred by him or her in connection with such dispute to the extent
the Participant shall prevail in such dispute.

                [THE REMAINDER OF THIS PAGE HAS BEEN LEFT BLANK]
<PAGE>

                                            [Jr. Management Deferred Bonus Plan]

                                             ICON HEALTH & FITNESS, INC.

                                             By: /s/ S. FRED BECK
                                                 -------------------------------
                                                 Name: S. Fred Beck
                                                 Title: Treasurer and CFO

Date: September 27, 1999<PAGE>

                                                                   Exhibit 10.19

                              MANAGEMENT AGREEMENT

      This Management Agreement (this "Agreement") is entered into as of the
27th day of September, 1999, by and between Icon Health & Fitness, Inc., a
Delaware corporation ("ICON"), HF Holdings, Inc., a Delaware corporation
("Holdings" and, together with ICON and each of its other direct and indirect
subsidiaries signatory hereto or hereafter becoming party hereto by executing a
counterpart signature page hereof, the "Company") and Bain Capital Partners IV,
L.P., a Delaware limited partnership ("Bain").

            Whereas, Holdings was formed for the purpose of effecting an overall
      plan to restructure the capitalization of ICON (the "Restructuring") and
      becoming a direct parent of ICON, all on terms and subject to the
      conditions of (a) the Exchange Offer and Consent Solicitation Statement,
      dated July 30, 1999, for all outstanding 13% Senior Subordinated Notes due
      2002 of ICON, 15% Senior Secured Discount Notes due 2004 of IHF Holdings,
      Inc., a Delaware corporation ("IHF"), and 14% Senior Discount Notes due
      2006 of ICON Fitness Corporation, a Delaware corporation, and (b) the
      Agreement and Plan of Merger, dated as of September 24, 1999, among
      Holdings, HF Acquisition, Inc., a Delaware corporation, and ICON.

            Whereas, Bain is providing advisory and other services in connection
      with the senior secured financing (the "Senior Financing") being provided
      for the Restructuring pursuant to a Credit Agreement dated on or about the
      date hereof by General Electric Capital Corporation and Fleet National
      Bank, as agents, and the lending institutions from time to time party
      thereto (the "Credit Agreement");

            Whereas, certain funds (the "Bain Funds") affiliated with Bain are
      providing equity financing (the "Equity Investments") in connection with
      the Restructuring; and

            Whereas, subject to the terms and conditions of this Agreement, the
      Company desires to retain Bain to provide certain management and advisory
      services to the Company, and Bain desires to provide such services;

      Now, therefore, in consideration of the mutual covenants contained herein,
and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto, intending to be legally
bound, hereby agree as follows:

1.    Services. Bain hereby agrees that, during the term of this Agreement (the
      "Term"), it will:

      (a)   provide the Company with advice in connection with the negotiation
            and consummation of agreements, contracts, documents and instruments
            necessary to provide the Company with financing from banks or other
            financial institutions or other entities on terms and conditions
            satisfactory to the Company; and

<PAGE>

      (b)   provide ICON with financial, managerial and operational advice in
            connection with its day-to-day operations, including, without
            limitation:

            (i)   advice with respect to the investment of funds; and

            (ii)  advice with respect to the development and implementation of
                  strategies for improving the operating, marketing and
                  financial performance of ICON.

2.    Payment of Fees. The Company hereby agrees to:

      (a)   pay to Bain (or an affiliate of Bain designated by it) a fee in the
            amount of $2,202,000 in connection with the structuring of the
            Senior Financing for the Restructuring, together with reimbursement
            of Bain's expenses incurred on behalf of the Company through the
            Closing Date (as defined in the Merger Agreement) in connection with
            the Restructuring, such fees and expenses being payable by ICON at
            the closing of the Restructuring or, if the Restructuring is not
            consummated, promptly after the time the Company has abandoned the
            Restructuring;

      (b)   subject to the terms of the credit agreement from time to time in
            effect providing for working capital financing to ICON, during the
            Term, pay to Bain (or an affiliate of Bain designated by it) a
            management fee in an amount not to exceed $366,500 per annum in
            exchange for the services provided to the Company by Bain, as more
            fully described in Section 1, such fee being payable by ICON
            quarterly in arrears, with each payment being made sixty (60) days
            after the end of each fiscal quarter of the Company; and

      (c)   during the Term, allow Bain to participate in the negotiation and
            consummation of senior financing for any recapitalization or
            acquisition or other similar transactions by the Company, and pay to
            Bain (or an affiliate of Bain designated by it) a fee in connection
            therewith equal to one percent (1%) of the gross purchase price of
            the transaction (including all liabilities assumed or otherwise
            included in the transaction), such fee to be due and payable for the
            foregoing services at the closing of such transaction, whether or
            not any such senior financing is actually committed or drawn upon;
            provided, however, that (i) Bain shall not be entitled to such fee
            with respect to any acquisition by the Company in which such gross
            purchase price is less than $10,000,000 and (ii) in the case of a
            Liquidity Event (as defined in the Stockholders Agreement) Bain
            shall provide Credit Suisse First Boston an opportunity to provide
            services in connection with such transaction and to receive in
            respect thereof a fee of up to one half (1/2) the fee otherwise
            payable to Bain pursuant to this Section, such

                                      -2-
<PAGE>

            fee of Credit Suisse First Boston to
            reduce such fee otherwise payable to Bain under this section but not
            by more than one-half (1/2) of such fee otherwise payable to Bain.

      Each payment made pursuant to this Section 2 shall be paid by wire
      transfer of immediately available federal funds to the account specified
      on Schedule 1 hereto, or to such other account(s) as Bain may specify to
      the Company in writing prior to such payment.

3.    Term. This Agreement shall commence on the Closing Date and continue in
      full force and effect, unless and until terminated by mutual consent of
      the parties, for so long as Bain (or any successor or permitted assign, as
      the case may be) continues to carry on the business of providing services
      of the type described in Section 1; provided, however, that (a) either
      party may terminate this Agreement following a material breach of the
      terms of this Agreement by the other party hereto and a failure to cure
      such breach within 30 days following written notice thereof and (b) Bain
      may terminate this Agreement upon not less than 60 days written notice to
      the Company; and provided further that each of (x) the obligations of the
      Company under Section 4, (y) any and all accrued and unpaid obligations of
      the Company owed under Section 2 and (z) the provisions of Section 7 shall
      survive any termination of this Agreement to the maximum extent permitted
      under applicable law.

4.    Expenses; Indemnification.

      (a)   Expenses. The Company agrees to pay on demand all expenses incurred
            by Bain, the Bain Funds and Bain Capital, Inc. (or any of them) in
            connection with this Agreement, the Restructuring and such other
            transactions and all operations hereunder or in respect of the
            Equity Investments or otherwise incurred in connection with the
            Restructuring or the Company, including but not limited to (i) the
            fees and disbursements of: (A) Ropes & Gray, special counsel to Bain
            Capital, Inc. and the Bain Funds, (B) PricewaterhouseCoopers LLP,
            accountant to Bain Capital, Inc. and the Bain Funds and (C) any
            other consultants or advisors retained by Bain, Bain Capital, Inc.,
            the Bain Funds or either of the parties identified in clauses (A)
            and (B) arising in connection therewith (including but not limited
            to the preparation, negotiation and execution of this Agreement and
            any other agreement executed in connection herewith or in connection
            with the Restructuring, the Senior Financing or the consummation of
            the other transactions contemplated hereby (and any and all
            amendments, modifications, restructurings and waivers, and exercises
            and preservations of rights and remedies hereunder or thereunder)
            and the operations of the Company) and (ii) any out-of-pocket
            expenses incurred by Bain, the Bain Funds and Bain Capital, Inc.
            (or any of them) in connection with the provision of

                                      -3-
<PAGE>

            services hereunder or the attendance at any meeting of the board
            of directors (or any committee thereof) of the Company or
            any of its affiliates.

      (b)   Indemnity and Liability. In consideration of the execution and
            delivery of this Agreement by Bain and the provision of the Equity
            Investments by the Bain Funds, the Company hereby agrees to
            indemnify, exonerate and hold each of Bain, Bain Capital, Inc. and
            each Bain Fund, and each of their respective partners, shareholders,
            affiliates, directors, officers, fiduciaries, employees and agents
            and each of the partners, shareholders, affiliates, directors,
            officers, fiduciaries, employees, agents, advisors and attorneys of
            each of the foregoing (collectively, the "Indemnitees") free and
            harmless from and against any and all actions, causes of action,
            suits, losses, liabilities and damages, and expenses in connection
            therewith, including without limitation attorneys' fees and
            disbursements (collectively, "Liabilities"), incurred by the
            Indemnitees or any of them as a result of, or arising out of, or
            relating to the Restructuring, the execution, delivery, performance,
            enforcement or existence of this Agreement or the transactions
            contemplated hereby (including but not limited to any
            indemnification obligations assumed or incurred by any Indemnitee)
            or the role or status of any of the foregoing as an officer,
            director or shareholder of ICON, Holdings, IHF Capital, Inc., ICON
            Fitness Corporation, IHF Holdings, Inc., ICON of Canada, Inc., ICON
            International Holdings, Inc., Universal Technical Services, or
            JumpKing, Inc. (collectively, the "Indemnified Liabilities") except
            for any such Indemnified Liabilities arising on account of such
            Indemnitee's willful misconduct, and if and to the extent that the
            foregoing undertaking may be unenforceable for any reason, the
            Company hereby agrees to make the maximum contribution to the
            payment and satisfaction of each of the Indemnified Liabilities
            which is permissible under applicable law; provided, however, that
            the Indemnified Liabilities shall not include any losses solely
            attributable to a decrease in value of any equity investment by the
            Bain Funds in Holdings.

5.    Assignment, etc. Except as provided below, neither party shall have the
      right to assign this Agreement. Bain acknowledges that its services under
      this Agreement are unique. Accordingly, any purported assignment by Bain
      (other than as provided below) shall be void. Notwithstanding the
      foregoing, (a) Bain may assign all or part of its rights and obligations
      hereunder to any affiliate of Bain which provides services similar to
      those called for by this Agreement, in which event Bain shall be released
      of all of its rights and obligations hereunder and (b) the provisions
      hereof for the benefit of the Bain Funds shall inure to the benefit of
      their successors and assigns.

6.    Amendments and Waivers. No amendment or waiver of any term, provision or
      condition of this Agreement shall be effective, unless in writing and
      executed by each of Bain and the Company. No waiver on any one occasion
      shall extend to or effect or

                                      -4-
<PAGE>

      be construed as a waiver of any right or remedy on any future
      occasion. No course of dealing of any person nor any delay or omission in
      exercising any right or remedy shall constitute an amendment of this
      Agreement or a waiver of any right or remedy of any party hereto.

7.    Miscellaneous.

      (a)   Choice of Law. This Agreement shall be governed by and construed in
            accordance with the domestic substantive laws of The Commonwealth of
            Massachusetts without giving effect to any choice or conflict of law
            provision or rule that would cause the application of the domestic
            substantive laws of any other jurisdiction.

      (b)   Consent to Jurisdiction. Each of the parties agrees that all
            actions, suits or proceedings arising out of or based upon this
            Agreement or the subject matter hereof shall be brought and
            maintained exclusively in the federal and state courts of The
            Commonwealth of Massachusetts. Each of the parties hereto by
            execution hereof (i) hereby irrevocably submits to the jurisdiction
            of the federal and state courts in The Commonwealth of Massachusetts
            for the purpose of any action, suit or proceeding arising out of or
            based upon this Agreement or the subject matter hereof and (ii)
            hereby waives to the extent not prohibited by applicable law, and
            agrees not to assert, by way of motion, as a defense or otherwise,
            in any such action, suit or proceeding, any claim that it is not
            subject personally to the jurisdiction of the above-named courts,
            that it is immune from extraterritorial injunctive relief or other
            injunctive relief, that its property is exempt or immune from
            attachment or execution, that any such action, suit or proceeding
            may not be brought or maintained in one of the above-named courts,
            that any such action, suit or proceeding brought or maintained in
            one of the above-named courts should be dismissed on grounds of
            forum non conveniens, should be transferred to any court other than
            one of the above-named courts, should be stayed by virtue of the
            pendency of any other action, suit or proceeding in any court other
            than one of the above-named courts, or that this Agreement or the
            subject matter hereof may not be enforced in or by any of the
            above-named courts. Each of the parties hereto hereby consents to
            service of process in any such suit, action or proceeding in any
            manner permitted by the laws of The Commonwealth of Massachusetts,
            agrees that service of process by registered or certified mail,
            return receipt requested, at the address specified in or pursuant to
            Section 9 is reasonably calculated to give actual notice and waives
            and agrees not to assert by way of motion, as a defense or
            otherwise, in any such action, suit or proceeding any claim that
            service of process made in accordance with Section 9 does not
            constitute good and sufficient service of process. The provisions of
            this Section 7(b) shall not restrict the ability of any

                                      -5-
<PAGE>

            party to enforce in any court any judgment obtained in a federal or
            state court of The Commonwealth of Massachusetts.

      (c)   Waiver of Jury Trial. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW
            WHICH CANNOT BE WAIVED, EACH OF THE PARTIES HERETO HEREBY WAIVES,
            AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF,
            DEFENDANT, OR OTHERWISE), ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN
            RESPECT OF ANY ISSUE, CLAIM, DEMAND, CAUSE OF ACTION, ACTION, SUIT
            OR PROCEEDING ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE
            SUBJECT MATTER HEREOF, IN EACH CASE WHETHER NOW EXISTING OR
            HEREAFTER ARISING AND WHETHER IN CONTRACT OR TORT OR OTHERWISE. Each
            of the parties hereto acknowledges that it has been informed by each
            other party that the provisions of this Section 7(c) constitute a
            material inducement upon which such party is relying and will rely
            in entering into this Agreement and the transactions contemplated
            hereby. Any of the parties hereto may file an original counterpart
            or a copy of this Agreement with any court as written evidence of
            the consent of each of the parties hereto to the waiver of its right
            to trial by jury.

8.    Merger/Entire Agreement. This Agreement contains the entire understanding
      of the parties with respect to the subject matter hereof and supersedes
      any prior communication or agreement with respect thereto, including
      without limitation the Management and Advisory Agreement dated as of
      November 14, 1994 between ICON, IHF, IHF Capital, Inc., a Delaware
      corporation, and Bain (the "1994 Management Agreement"); provided,
      however, that the provisions of Section 3.2 of the 1994 Management
      Agreement shall continue in full force and effect and shall survive any
      termination of this Agreement.

9.    Notice. All notices, demands, and communications of any kind which any
      party may require or desire to serve upon any other party under this
      Agreement shall be in writing and shall be served upon such other party
      and such other party's copied persons as specified below by personal
      delivery to the address set forth for it below or to such other address as
      such party shall have specified by notice to each other party or by
      mailing a copy thereof by certified or registered mail, or by Federal
      Express or any other reputable overnight courier service, postage prepaid,
      with return receipt requested, addressed to such party and copied persons
      at such addresses. In the case of service by personal delivery, it shall
      be deemed complete on the first business day after the date of actual
      delivery to such address. In case of service by mail or by overnight
      courier, it shall be deemed complete, whether or not received, on the
      third day after the date of mailing as shown by the registered or
      certified mail receipt or courier service receipt. Notwithstanding the
      foregoing, notice to any party or copied person of change of address shall
      be deemed complete only upon actual receipt by an officer or agent of such
      party or copied person.

                                      -6-
<PAGE>

      If to the Company, to it at:

            ICON Health & Fitness, Inc.
            1500 South 1000 West
            Logan, Utah 84321
            Attention: Chief Executive Officer

            with a copy to:

            Bain Capital Partners IV, L.P.
            Two Copley Place, 7th Floor
            Boston, MA 02116
            Attention: Robert C. Gay
                       Ronald P. Mika

      If to Bain, to it at:

            Two Copley Place, 7th Floor
            Boston, MA 02116
            Attention: Robert C. Gay
                       Ronald P. Mika

            with a copy to:

            Ropes & Gray
            One International Place
            Boston, MA 02110
            Attention: R. Newcomb Stillwell

10.   Severability. If in any judicial or arbitral proceedings a court or
      arbitrator shall refuse to enforce any provision of this Agreement, then
      such unenforceable provision shall be deemed eliminated from this
      Agreement for the purpose of such proceedings to the extent necessary to
      permit the remaining provisions to be enforced. To the full extent,
      however, that the provisions of any applicable law may be waived, they are
      hereby waived to the end that this Agreement be deemed to be valid and
      binding agreement enforceable in accordance with its terms, and in the
      event that any provision hereof shall be found to be invalid or
      unenforceable, such provision shall be construed by limiting it so as to
      be valid and enforceable to the maximum extent consistent with and
      possible under applicable law.

                                      -7-
<PAGE>

11.   Disclaimer and Limitation of Liability.

      (a)   Disclaimer. Bain makes no representations or warranties, express or
            implied, in respect of the services to be provided by it hereunder.

      (b)   Standard of Care. Neither Bain nor any other Indemnitee shall be
            liable to the Company or any of its affiliates for any act, alleged
            act, omission or alleged omission suffered or taken by Bain or any
            other Indemnitee that does not constitute willful misconduct.

      (c)   Freedom to Pursue Opportunities, Etc. In anticipation that the
            Company and Bain (or one or more affiliates, associated investment
            funds or portfolio companies, or clients of Bain) may engage in the
            same or similar activities or lines of business and have an interest
            in the same areas of corporate opportunities, and in recognition of
            the benefits to be derived by the Company from the services to be
            provided under this Agreement and in recognition of the difficulties
            which may confront any advisor who desires and endeavors fully to
            satisfy such advisor's duties in determining the full scope of such
            duties in any particular situation, the provisions of this clause
            (c) are set forth to regulate, define and guide the conduct of
            certain affairs of the Company as they may involve Bain. Except as
            Bain may otherwise agree in writing after the date hereof:

            (i)   Bain shall have the right to, and shall have no duty
                  (contractual or otherwise) not to, directly or indirectly: (A)
                  engage in the same or similar business activities or lines of
                  business as the Company, including those competing with the
                  Company and (B) do business with any client or customer of the
                  Company;

            (ii)  Neither Bain nor any officer, director, employee, partner,
                  affiliate or associated entity thereof shall be liable to the
                  Company or its affiliates for breach of any duty (contractual
                  or otherwise) by reason of any such activities of or of such
                  person's participation therein; and

            (iii) In the event that Bain acquires knowledge of a potential
                  transaction or matter that may be a corporate opportunity for
                  both the Company and Bain or any other person, Bain shall have
                  no duty (contractual or otherwise) to communicate or present
                  such corporate opportunity to the Company and, notwithstanding
                  any provision of this Agreement to the contrary, shall not be
                  liable to the Company or its affiliates for breach of any duty
                  (contractual or otherwise) by reason of the fact that Bain
                  directly or indirectly pursues or acquires such opportunity
                  for itself,

                                      -8-
<PAGE>

                  directs such opportunity to another person, or does not
                  present such opportunity to the Company.

      (d)   Limitation of Liability. In no event will either party hereto be
            liable to the other for any indirect, special, incidental or
            consequential damages, including lost profits or savings, whether or
            not such damages are foreseeable, or in respect of any Liabilities
            relating to any third party claims (whether based in contract, tort
            or otherwise) other than the Indemnified Liabilities, relating to
            the services to be provided by Bain hereunder.

12.   Counterparts. This Agreement may be executed in any number of counterparts
      and by each of the parties hereto in separate counterparts, each of which
      when so executed shall be deemed to be an original and all of which
      together shall constitute one and the same agreement.

                                      -9-
<PAGE>

                                                          [Management Agreement]

      IN WITNESS WHEREOF, each of the parties has caused this Agreement to be
executed on its behalf as an instrument under seal as of the date first above
written by its officer or representative thereunto duly authorized.

THE COMPANY:                            ICON HEALTH & FITNESS, INC.

                                        By /s/ S. Fred Beck
                                           -------------------------------------
                                           Name: S. Fred Beck
                                           Title: CFO, V.P. and Treasurer

                                        HF HOLDINGS, INC.

                                        By /s/ S. Fred Beck
                                           -------------------------------------
                                           Name: S. Fred Beck
                                           Title: CFO, V.P. and Treasurer

BAIN:                                   BAIN CAPITAL PARTNERS IV, L.P.

                                        By Bain Capital Investors, Inc.,
                                           its general partner

                                           By /s/ Robert Gay
                                              ----------------------------------
                                              Name: Robert Gay
                                              Title: Managing Director

Accepted and agreed:

IHF HOLDINGS, INC.

By /s/ S. Fred Beck
   -------------------------------
   Name: S. Fred Beck
   Title: CFO

IHF CAPITAL, INC.

By /s/ S. Fred Beck
   -------------------------------
   Name: S. Fred Beck
   Title: CFO

                                      -10-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}]]