Document:

EXECUTION COPY  

SECOND AMENDMENT TO
AMENDED AND RESTATED LOAN
AND SECURITY
AGREEMENT, WAIVER, CONSENT AND RELEASE  

        SECOND
AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT, WAIVER, CONSENT AND
RELEASE, dated as of February 22, 2005 (the “Amendment”), to the Amended and
Restated Loan and Security Agreement, dated as of November 16, 2004, as amended by the
First Amendment, dated as of December 22, 2004 (as the same now exists or may hereafter be
amended, modified, supplemented, extended, renewed, restated or replaced, the “Loan
Agreement”), between and among, on the one hand, Wells Fargo Foothill, Inc., a
California corporation (“WFF”), and Ableco Finance, LLC, a Delaware limited
liability company (“Ableco”), and the other lenders identified on the signature
pages thereto (such lenders, together with their respective successors and assigns, each
individually a “Lender” and collectively, the “Lenders”), WFF, as the
administrative agent for the Lenders (in such capacity, the “Administrative
Agent”), Ableco, as the collateral agent for the Lenders (in such capacity, the
“Collateral Agent” and together with the Administrative Agent, each an
“Agent” and collectively, the “Agents”) and, on the other hand,
Northland Cranberries, Inc., a Wisconsin corporation (“Borrower”), and the
guarantors party thereto from time to time. Capitalized terms used herein but not
specifically defined herein shall have the meanings ascribed to them in the Loan
Agreement. 

        WHEREAS,
Borrower and NCI Foods LLC (“NCI”), a wholly owned subsidiary of the Borrower
and a guarantor under the Loan Agreement, have advised the Agents and the Lenders that,
pursuant to the Asset Purchase Agreement, dated as of the date hereof (the “Northland
Purchase Agreement”), by and between Apple & Eve, LLC, a Delaware limited
liability company, as buyer (the “Buyer”), and the Borrower and NCI, as sellers,
a copy of which is attached hereto as Exhibit A, (i) Borrower desires to sell certain of
its assets as set forth on Exhibit B hereto (the “Northland Purchased Assets”)
and assign certain of its liabilities to the Buyer and (ii) NCI desires to sell certain of
its assets as set forth as Exhibit C hereto (the “NCI Purchased Assets”) to the
Buyer (such transaction, the “Northland Asset Sale”); 

        WHEREAS,
Borrower and NCI have each requested (i) that the Lenders consent to the sale of the
Northland Purchased Assets and the NCI Purchased Assets, (ii) that Collateral Agent
release the security interests that it holds for the benefit of the Lenders pursuant to
the Loan Agreement in the Northland Purchased Assets and the NCI Purchased Assets, and
(iii) that the Lenders waive any Event of Default that may occur under the Loan Agreement
as a result of the consummation of the Northland Asset Sale; 

        WHEREAS,
Borrower has advised the Agents and the Lenders that Borrower desires to sell cranberry
concentrate (the “Purchased Concentrate”) pursuant to the Concentrate Sale and
Supply Agreement (the “Concentrate Agreement”), dated as of the date hereof, by
and between the Buyer, as purchaser, and the Borrower, as supplier, a copy of which is
attached hereto as Exhibit D (the “Concentrate Sale”); 

        WHEREAS,
Borrower has requested (i) that the Lenders consent to the sale of the Purchased
Concentrate, (ii) that Collateral Agent release the security interests that it holds for
the benefit of the Lenders pursuant to the Loan Agreement in the Purchased Concentrate,
and (iii) that the Lenders waive any Event of Default that may occur under the Loan
Agreement as a result of the consummation of the Purchased Concentrate Agreement; 

        WHEREAS,
WFF has advised the other Lenders and the Borrower that it desires to terminate its Total
Commitment under the Loan Agreement; 

        WHEREAS,
the Lenders and the Borrower desire to set forth the application of proceeds that Borrower
and NCI shall receive from the sale of the Northland Purchased Assets, the NCI Purchased
Assets and the Purchased Concentrate; 

        WHEREAS,
WFF in its capacity as the Administrative Agent has advised the Collateral Agent, Lenders
and Borrower that it desires to resign as Administrative Agent; 

        WHEREAS,
Ableco has advised the Administrative Agent, the Lenders and Borrower that it will accept
appointment as successor to WFF as Administrative Agent; 

        In
consideration of the foregoing and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged by the parties hereto, the parties hereto
hereby agree as follows: 

        SECTION
1    Amendments to Loan Agreement.  

        1.1    
Section 1.1 of the Loan Agreement is hereby amended by deleting the definitions of each
of the following terms: “Maximum Credit Line”, “Maximum Revolver A Amount”,
and “Maximum Revolver B Amount” and replacing each such definition to read in
its entirety, respectively, as follows:  

        “‘Maximum
Credit Line’ means the amount set forth as the Total Commitment for all Lenders
on Schedule C-1.” 

        “‘Maximum
Revolver A Amount’ means the amount set forth as the Revolver A Commitment for
all Lenders on Schedule C-1, which is zero.” 

        “‘Maximum
Revolver B Amount’ means the amount set forth as the Revolver B Commitment for
all Lenders on Schedule C-1.” 

        1.2    
Section 1.1 of the Loan Agreement is hereby amended by inserting the definition of the
terms: “Fixed Charges” and “Fixed Charge Coverage Ratio” in their
correct alphabetical position to read as follows:  

	 	
“‘Fixed
Charges’ means with respect to Borrower and its Subsidiaries for any period, the
sum, without duplication, of (a) cash Interest Expense, (b) principal payments required
to be paid during such period in respect of Indebtedness, and (c) all federal, state, and
local income taxes actually paid in cash during such period.” 	 

2 

	 	
“‘Fixed
Charge Coverage Ratio’ means, with respect to Borrower and its Subsidiaries for
any period, the ratio of (i) EBITDA for such period minus  unfinanced capital
expenditures made (to the extent not already incurred in a prior period) or incurred
during such period, to (ii) Fixed Charges for such period.” 	 

        1.3    
Section 3.4 Term of the Loan Agreement is hereby amended by deleting the first
sentence thereof in its entirety and replacing such sentence with the following:  

	 	
“This
Agreement shall become effective upon the execution and delivery hereof by Borrower,
Agents, and the Lenders and shall continue in full force and effect for a term ending on
October 31, 2005 (the “Maturity Date”).  	 

        1.4    
Section 7.20 Financial Covenants of the Loan Agreement is hereby amended by
deleting clauses subsections (a) and (b) thereof and replacing such subsections with the
following:" 

	 	
       “(a)    Fixed
Charge Coverage Ratio. Fail to maintain or achieve a Fixed Charge
               Coverage Ratio, measured on a month-end basis, of at least the applicable
ratio                set forth in the following table for the cumulative period
commencing on March                1, 2005 and ending on the date set forth opposite
thereto:  	 

	Applicable Ratio
	Applicable Date

	1.2 to 1.0

1.2 to 1.0

1.2 to 1.0

1.2 to 1.0

1.2 to 1.0

1.2 to 1.0

1.2 to 1.0

1.2 to 1.0
	  March 31, 2005

  April 30, 2005

   May 31, 2005

   June 30, 2005

   July 31, 2005

  August 31, 2005

September 30, 2005

 October 31, 2005

		

	 	
       (b)    [Reserved.]”	 

        1.5    
On the Amendment Effective Date, no Letters of Credit are outstanding and the Letter of
Credit Usage is zero. On and after the Amendment Effective Date, the Borrower shall not
be entitled to request a Letter of Credit and no Lender or Agent shall have the
obligation to arrange for or issue a Letter of Credit.  

        1.6    
Schedule C-1 of the Loan Agreement is hereby amended by deleting such schedule in it
entirety and replacing such schedule with the revised Schedule C-1 to Loan Agreement, a
copy of which is attached hereto as Exhibit E.  

3 

        SECTION
2     Consent and Waiver. 

                        (a)    
Notwithstanding anything else to the contrary in the Loan Agreement or any other Loan
Document, pursuant to the requests by the Borrower and by NCI, but subject to
satisfaction of the conditions set forth in subsection (b) below and in Section 9 hereof,
and in reliance upon the representations and warranties of the Borrower and the
Guarantors set forth herein and in the Loan Agreement, the Required Revolver A Lenders
and the Required Lenders hereby consent to the Northland Asset Sale and the Concentrate
Sale (collectively, the “Asset Sales”) and waive any Event of Default that
would otherwise arise under Section 8.2(c) of the Loan Agreement as a result of a breach
of Sections 5.11, 7.3(c), 7.4 and 8.3 of the Loan Agreement, by reason of the Asset
Sales.  

                        (b)    
         The consent and waiver set forth in subsection (a) above are conditioned upon
          the effectiveness of the Amendment pursuant to Section 9 and the following
          conditions related to the Northland Asset Sale:  

	 	          (i)    the
Asset Sales shall have been consummated on the Amendment Effective Date;  

	 	          (ii)    the
consideration paid by Buyer to Borrower on the Closing Date in connection           with
the Asset Sales shall be no less than an amount equal to the sum of (A)
          $8,500,000 (exclusive of $500,000 to be held in escrow for adjustments to be
          paid to Buyer) and (B) the Preliminary Adjustment (as defined in the Northland
          Purchase Agreement), if any, paid by Buyer to Borrower on the Closing Date;
such           amount (net of closing costs including broker fees, consulting fees,
attorneys           fees and taxes, the “Net Sale Proceeds”) shall in no event
be less           than $9,000,000 and shall be delivered directly to the Administrative
Agent in           cash or other immediately available funds; and  

	 	          (iii)    prior
to or concurrently with the consummation of the Asset Sales, the Borrower           shall
deliver to each Lender a true and correct copy of (A) the fully executed
          Northland Purchase Agreement, together with all schedules and exhibits thereto,
          (B) the fully executed Concentrate Agreement, together with all schedules and
          exhibits thereto and (C) the fully executed Transition Services Agreement (the
          “Transition Services Agreement”) dated the date hereof
          by and between the Borrower and Buyer, together with all schedules and exhibits
          thereto, each of (A), (B) and (C) shall be certified by an officer of the
          Borrower, and (D) each other material agreement, instrument or other document
to           be executed and delivered in connection therewith.  

                        (c)    The
consents and waivers in this Section 2 shall be effective only in this           specific
instance and for the specific purposes set forth herein and do not           allow for
any other or further departure from the terms and conditions of the           Loan
Agreement or any other Loan Documents, which terms and conditions shall           remain
in full force and effect. For the avoidance of doubt, the Excluded Assets           (as
defined in the Northland Purchase Agreement) of the Borrower and NCI shall
          continue to be owned by Borrower and NCI, respectively, and subject to the
          security interest of the Collateral Agent for benefit of the Lenders in such
          Excluded Assets.  

4 

        SECTION
3    Termination and Release. Subject to the satisfaction of the conditions set forth
in Section 2(b) hereof and in Section 9 hereof, the Lenders hereby agree as follows:  

                        (a)              upon
the consummation of the Asset Sales, in accordance with the Northland           Purchase
Agreement and the Concentrate Agreement (collectively, the “Sales
          Agreements), any and all Liens or other charges or encumbrances on, and all
          security interests in, the Northland Purchased Assets, the NCI Purchased Assets
          and the Purchased Concentrate (collectively, the “Purchased Assets”)
          in favor of Collateral Agent for the benefit of the Lenders or in favor of any
          Lender arising under the Loan Agreement and the other Loan Documents, but
          excluding any Liens or other charges or encumbrances on, and any security
          interests in the Excluded Assets in favor of Collateral Agent for the benefit
of           the Lenders or in favor of any Lender, are automatically released and
terminated           without any further action on the part of the Lenders;  

                        (b)              upon
the consummation of the Asset Sales in accordance with the Sales           Agreements,
the Collateral Agent and the Lenders authorize the Borrower and/or           the Buyer to
file UCC-3 Financing Statement Amendments in the form of Exhibit           F hereto,
for the limited purpose of releasing the Lien of the Lenders on           the Purchased
Assets (but not any Excluded Assets), but without representation,           warranty or
recourse of any kind to the Agents or the Lenders and at the sole           cost and
expense of the Borrower;  

                        (c)              upon
the consummation of the Northland Asset Sale in accordance with the           Northland
Purchase Agreement, the Collateral Agent and the Lenders authorize the           Borrower
and/or the Buyer to file the releases of security interests in           trademarks in
the form of Exhibit G hereto, for the limited purpose of           releasing the
security interests of the Lenders on the Northland Purchased           Assets consisting
of trademark rights and the NCI Purchased Assets consisting of           trademark rights
(but not any Excluded Assets), but without representation,           warranty or recourse
of any kind to the Agents or the Lenders and at the sole           cost and expense of
the Borrower; and  

                        (d)              the
Lenders will, at the request of the Borrower or Buyer, authorize and/or           execute
such additional instruments and other writings, and take such other           actions as
the Borrower or Buyer may reasonably request to effect or evidence,           to the
extent set forth herein, the termination of the liens and other charges           and
encumbrances on, and security interests in, the Purchased Assets (but not           any
Excluded Assets), but at the sole cost and expense of the Borrower or Buyer           and
without representation, warranty or recourse of any kind to the Agents or           the
Lenders.  

        SECTION
4     Application of Net Sale Proceeds and Reduction of Commitments. Notwithstanding
anything to the contrary in the Loan Agreement (including, without limitation, Section
2.4(d))or any other Loan Document, the Administrative Agent, the Collateral Agent, the
Required Revolver A Lenders, the Required Lenders and the Borrower and NCI hereby agree
that Borrower and NCI shall deliver, or cause to be delivered, to the Administrative
Agent payment in cash or cash equivalents of the Net Sale Proceeds and the Administrative
Agent shall apply such proceeds, for application as follows:  

5 

                        (a)              first,
to the outstanding principal amount of the A Advances until paid in full,
          together with the accrued and unpaid interest thereon and all costs, fees and
          charges of the Lenders with a Revolver A Commitment, and simultaneously
          therewith, the Revolver A Commitment of WFF shall be reduced to zero and
          terminated;  

                        (b)              second,
to the outstanding costs, fees, charges and expenses of the           Administrative
Agent in connection with its duties as Administrative Agent;  

                        (c)              third,
to outstanding principal amount of the B Advances until paid in full,           together
with the accrued and unpaid interest thereon, and simultaneously           therewith, the
Revolver B Commitment of Ableco shall be reduced to $2,500,000;           and  

                        (d)              fourth,
to the outstanding principal amount of the Term Loan, until the           outstanding
principal amount of the Term Loan shall be equal to or less than           $12,000,000,
such payments to be applied to the scheduled amortization payments           of the Term
Loan in the order of maturity.  

        The
remainder, if any, of the Net Sale Proceeds may be retained by Borrower for working
capital purposes.  

        SECTION
5     Application of Final Adjustment to Purchase Price. Notwithstanding anything to
the contrary in the Loan Agreement (including, without limitation, Section 2.4(c)(iv))or
any other Loan Document, on the earlier of the Settlement Date (as defined in the
Northland Purchase Agreement) or August 31, 2005, Borrower shall deliver, or cause to be
delivered, to the Administrative Agent payment in cash or cash equivalents of an amount
equal to the sum of (A) $500,000 less any amount paid by Borrower to Buyer as a Final
Adjustment (as defined in the Northland Purchase Agreement) and (B) the amount, if any,
paid by the Buyer to the Borrower as a Final Adjustment (as defined in the Northland
Purchase Agreement), such payment to be applied to the outstanding principal amount of
the Term Loan in the order of maturity.  

        SECTION
6     Termination and Release of WFF as Lender.  

                        (a)    
Upon the payment in full of the A Advances, together with the accrued and unpaid interest
thereon pursuant to Section 4(a) hereof, (i)the financing arrangements as between WFF and
Borrower pursuant to the Loan Agreement and the other Loan Documents are hereby
terminated, canceled and of no further force and effect, except for those provisions of
the Loan Documents which by their respective terms survive termination, and (ii) WFF
shall have no further obligation to make any Advance, provide any Letters of Credit,
loans, advances or other financial accommodations or have any other duties or
responsibilities in connection with the Loan Documents.  

                        (b)          Borrower
and Guarantors hereby release, discharge and acquit WFF, and its           officers,
directors, attorneys, agents and employees and its successors and           assigns, from
all obligations to Borrower and Guarantors (and their respective           successors and
assigns) and from any and all claims, demands, debts, accounts,           contracts,
liabilities, actions and causes of actions, whether in law or in           equity, that
Borrower or any Guarantor at any time had or has, or that its           successors and
assigns hereafter can or may have against WFF, its officers,           directors,
attorneys, agents or employees and its and their respective           successors and
assigns.  

6 

        SECTION
7     Resignation of Administrative Agent; Appointment of Administrative Agent. WFF
hereby gives notice to the Lenders, Borrower and Guarantors of its resignation as
Administrative Agent as of the Amendment Effective Date. Ableco hereby agrees to accept
appointment as Administrative Agent as of the Amendment Effective Date. The Collateral
Agent, Lenders, Borrower and Guarantors hereby (a) waive the 45-prior-day notice required
in connection with the resignation of an agent pursuant to the Loan Agreement and (b)
agree that as of the Amendment Effective Date, (i) Ableco is hereby appointed
Administrative Agent and shall succeed to and become vested with all the rights, powers,
privileges and duties that WFF had as Administrative Agent and (ii) WFF is hereby
discharged from its duties and obligations under the Loan Documents as Administrative
Agent.  

        SECTION
8     Representations, Warranties and Covenants. In addition to the continuing
representations, warranties and covenants heretofore or hereafter made by Borrower and
Guarantors to the Agents and Lenders pursuant to the Loan Agreement and the other Loan
Documents, Borrower hereby represents, warrants and covenants with and to the Agents and
Lenders as follows (which representations, warranties and covenants are continuing and
shall survive the execution and delivery hereof and shall be incorporated into and made a
part of the Loan Documents):  

                        (a)              No
Event of Default or act, condition or event, which with notice or passage of
          time or both, would constitute and Event of Default, exists on the date of this
          Amendment (after giving effect to the amendments to the Loan Agreement set
forth           herein); and  

                        (b)              This
Amendment has been duly executed and delivered by Borrower and each           Guarantor
and is in full force and effect as of the date hereof, and the           agreements and
obligations of Borrower and each Guarantor contained herein           constitute its
legal, valid and binding obligations, enforceable against it in           accordance with
the terms hereof.  

                        (c)              The
execution, delivery and performance by Borrower of the Sales Agreements and           the
Transition Services Agreement do not and will not conflict with, result in a
          breach of, or constitute (with due notice or lapse of time or both) a default
          under any Ocean Spray Document including, without limitation, the Ocean Spray
          Toll Processing Agreement.  

        SECTION
9     Conditions to Effectiveness. The effectiveness of this Amendment shall be
subject to the following, the satisfaction of which shall be determined by the Agents in
each of their sole judgments (the first date upon which all such conditions shall have
been satisfied being herein called the “Amendment Effective Date”):  

                        (a)              the
receipt by the Agents of an original or faxed executed copy of this           Amendment,
duly authorized, executed and delivered by Borrower, each Guarantor,           the
Administrative Agent, the Collateral Agent and each Lender;  

                        (b)              after
giving effect to the amendments to the Loan Agreement contained herein, no
          Default or Event of Default shall have occurred and be continuing; and  

7 

                        (c)              all
legal matters incident to this Amendment shall be satisfactory to the           Lenders
and their counsel.  

        Notwithstanding
the above, if at any time, it shall be determined that the condition set forth in clause
(b) above has not been satisfied, the termination and release of WFF as a Lender pursuant
to Section 6 and all other provisions thereof in favor of or for the benefit of any Agent
or any Lender and the resignation of WFF as Administrative Agent pursuant to Section 7
and all other provisions thereof in favor of or for the benefit of any Agent or any
Lender shall remain in effect. Further, if at any time, it shall be determined that the
condition set forth in clause (b) above has not been satisfied, the Agents, Lender and
Borrower hereby agree that (i) the termination and reduction of commitments pursuant to
Section 4 and all other provisions thereof in favor of or for the benefit of any Agent or
any Lender remain effective and (ii) no Agent or Lender shall be required to disgorge any
payment made by Borrower to such Agent or Lender, all such payments shall be final,
unconditional and non-refundable in accordance with the priorities of payments set forth
in Section 4.  

        SECTION
10    Deposit Account and Blocked Account Control Agreement.  

                        (a)    
Borrower hereby agrees to make its best effort to, if not on the date hereof, promptly
thereafter and in any event no later than four (4) Business Days after the date hereof,
(i) provide confirmation in writing that Borrower has (A) established a deposit account
(the “Deposit Account”) in Borrower’s name with U.S. Bank National
Association (the “Bank”) into which account all payments mailed to the existing
lockbox at the Bank shall be deposited daily and (B) executed and delivered to the Bank
an Automated Standing Transfer Authorization directing the Bank to transfer daily all
cleared deposits to such account as Ableco may direct and (ii) with the consent of the
Bank, enter into a Blocked Account Control Agreement (with Lockbox Services) with Ableco,
granting sole control of the Deposit Account to Ableco as Agent (the “Blocked
Account Agreement”).  

                        (b)    WFF
hereby agrees, at the request of Ableco, to deliver to the Bank a           termination
and release sufficient to effect the termination of the Lockbox and           Operating
Procedural Agreement, dated November 5, 2001 (“Original Lockbox           Agreement”),
between the Bank, WFF and the Borrower. If Ableco shall not           have made such a
request on or prior to the third (3rd) Business day           hereafter, WFF
shall on the fourth (4th) Business Day hereafter           deliver such a
termination and release to the Bank. WFF further agrees that           until the
termination of the Original Lockbox Agreement, subject to Section 4           hereof, WFF
shall transfer all deposits subject the Original Lockbox Agreement           to such
account as Ableco may direct.  

        SECTION
11    Effect of this Amendment. Except as modified pursuant hereto, no other changes
or modifications to the Loan Agreement and the other Loan Documents are intended or
implied and in all other respects the Loan Agreement and the other Loan Documents are
hereby specifically ratified, restated and confirmed by the Borrower and Guarantors as of
the effective date hereof. To the extent of any conflict between the terms of this
Amendment and any of the Loan Documents, the terms of this Amendment shall control. Each
Borrower and Guarantor confirms and agrees that (a) the Loan Agreement, as amended
hereby, the other Loan Documents and this Amendment shall be read and be construed as one
agreement and all references in any Loan Document to “the Loan Agreement”,
“thereto”, “thereof”, “thereunder” or words of like import
referring to the Loan Agreement shall mean the Loan Agreement as amended by this
Amendment, and (b) confirms and agrees that to the extent that any Loan Document purports
to assign or pledge to the Agent or any Lender, or to grant to the Agent or any Lender a
Lien on any collateral as security for the Obligations of such Borrower from time to time
existing in respect of the Loan Agreement and the Loan Documents, such pledge, assignment
and/or grant of a Lien is hereby ratified and confirmed in all respects.  

8 

        SECTION
12    Further Assurances. The parties hereto shall execute and deliver such
additional documents and take such additional actions as may be necessary or desirable to
effectuate the provisions and purposes of this Amendment.  

        SECTION
13    GOVERNING LAW. THE VALIDITY, INTERPRETATION AND ENFORCEMENT OF THIS AMENDMENT
AND ANY DISPUTE ARISING OUT OF THE RELATIONSHIP BETWEEN THE PARTIES HERETO, WHETHER IN
CONTRACT, TORT, EQUITY OR OTHERWISE, SHALL BE GOVERNED BY THE INTERNAL LAWS OF THE STATE
OF NEW YORK (WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF LAW).  

        SECTION
14    Binding Effect. This Amendment shall be binding upon and inure to the benefit
of each of the parties hereto and their respective successors and assigns.  

        SECTION
15    Miscellaneous.  

        15.1    
This Amendment may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which shall be deemed to be an original, but all
of which taken together shall constitute one and the same agreement.  

        15.2    
Section and paragraph headings herein are included for convenience of reference only and
shall not constitute a part of this Amendment for any other purpose.  

        15.3    
Borrower and Guarantors hereby acknowledge and agree that this Amendment constitutes a
“Loan Document” under the Loan Agreement. Accordingly, it shall be an Event of
Default under the Loan Agreement if (i) any representation or warranty made by Borrower
under or in connection with this Amendment shall have been untrue, false or misleading in
any material respect when made, or (ii) Borrower shall fail to perform or observe any
term, covenant or agreement contained in this Amendment.  

        15.4    
The Borrower will pay on demand all reasonable out-of-pocket costs and expenses of the
Agents and the Lenders in connection with the preparation, execution and delivery of this
Amendment and all actions after the date hereof related to this Amendment and the Loan
Documents including, without limitation, the reasonable fees, disbursements and other
charges of Otterbourg, Steindler, Houston & Rosen, P.C., counsel to the
Administrative Agent and WFF and Schulte Roth & Zabel LLP, counsel to the Collateral
Agent and Ableco.  

[SIGNATURE PAGES
FOLLOW] 

		 BORROWER:

Northland Cranberries, Inc.

 
		By:   	/s/ John Swendrowski 

	 		Title:  Chief Executive Officer and Treasurer

		GUARANTORS:

NCI Foods, LLC

 
		By:   	/s/ John Swendrowski 

		 	Title:  President

		Northland Insurance Center, Inc.

		By:   	/s/ John Swendrowski 

			Title:  Vice President

		Wildhawk, Inc.

		By:   	/s/ John Swendrowski 

			Title:  Vice President

[SIGNATURES CONTINUED
ON NEXT PAGE] 

[SIGNATURES CONTINUED
FROM PREVIOUS PAGE] 

		AGENTS AND LENDERS:

Wells Fargo Foothill Inc., as

Administrative Agent, Lender, Required

Revolver A Lender, resigning

Administrative Agent and resigning Lender

 
		By:   	/s/ Dennis Rebman 

			Title:  Vice President

		Ableco Finance LLC, as Collateral

                                                     Agent, Lender, Required Lender, and

                                                     newly appointed Administrative Agent

		By:   	/s/ Eric Miller 

			Title:  Senior Vice PresidentASSET PURCHASE
AGREEMENT 

BY AND BETWEEN 

APPLE & EVE, LLC 

AND 

NORTHLAND CRANBERRIES,
INC. 

FEBRUARY 22, 2005 

TABLE OF CONTENTS 

			Page 
	
ARTICLE I	PURCHASE AND SALE OF PURCHASED ASSETS	1 
	              1.1	Basic Transaction	1 
	              1.2	Assumed Liabilities	3 
	 		
	ARTICLE II	BASIC TRANSACTION	4 
	              2.1	Purchase Price	4 
	              2.2	Purchase Price Adjustment	4 
	              2.3	Closing	8 
	              2.4	Allocation of Purchase Price	8 
	              2.5	Closing Deliveries	8 
	 		
	ARTICLE III	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	9 
	              3.1	Organization and Qualification	9 
	              3.2	Authority	10 
	              3.3	No Violation; Consents	10 
	              3.4	Title to Purchased Assets; Condition of Assets	11 
	              3.5	Broker's Fees	11 
	              3.6	Legal Compliance; Permits	11 
	              3.7	Trade Rights	11 
	              3.8	Tax Matters	12 
	              3.9	Contracts	12 
	              3.10	Trade Accounts Receivable	13 
	              3.11	Inventory	13 
	              3.12	Major Customers and Suppliers	13 
	              3.13	Litigation	13 
	              3.14	Labor Matters	14 
	              3.15	Purchased Assets	15 
	              3.16	Environmental Matters	15 
	              3.17	Insurance	16 
	              3.18	Financial Information	16 
	              3.19	Undisclosed Liabilities	16 
	              3.20	Limitations on Representations and Warranties	16 
	 		
	ARTICLE IV	REPRESENTATIONS AND WARRANTIES OF BUYER	17 
	              4.1	Organization and Qualification	17 
	              4.2	Authority	17 
	              4.3	No Violation	17 
	              4.4	Finder's Fees	18 
	              4.5	Litigation	18 
	              4.6	Funding	18 
	              4.7	Company Stock	18 
	 		

-i- 

TABLE OF CONTENTS
(Continued)  

			Page 
	 		
	ARTICLE V	FURTHER AGREEMENTS	18 
	              5.1	Confidentiality	18 
	              5.2	Public Disclosure	18 
	              5.3	Preservation of Books and Records	18 
	              5.4	Further Actions; Filings	19 
	              5.5	Employees; Employment and Benefit Arrangements	20 
	              5.6	Funding	21 
	              5.7	Assignment of Purchased Contracts	21 
	              5.8	Transition Period	21 
	              5.9	Corporate Name	21 
	 		
	ARTICLE VI	[INTENTIONALLY LEFT BLANK]	22 
	 		
	ARTICLE VII	DEFINED TERMS	22 
	 		
	ARTICLE VIII	INDEMNIFICATION	25 
	              8.1	Company's Indemnity	25 
	              8.2	Buyer's Indemnity	26 
	              8.3	Provisions Regarding Indemnities	26 
	 		
	ARTICLE IX	CONFIDENTIALITY	28 
	              9.1	Definition of Confidential Information	28 
	              9.2	Use of Confidential Information	29 
	              9.3	Confidentiality	29 
	              9.4	Legal Requirement to Disclose	29 
	 		
	ARTICLE X	GENERAL PROVISIONS	30 
	            10.1	Notices	30 
	            10.2	Interpretation	30 
	            10.3	Counterparts	31 
	            10.4	Entire Agreement; Nonassignability; Parties in Interest	31 
	            10.5	Expenses	31 
	            10.6	Tax Matters	31 
	            10.7	Amendment	31 
	            10.8	Severability	31 
	            10.9	Remedies Cumulative	32 
	            10.10	Governing Law; Waiver of Jury Trial	32 
	            10.11	Rules of Construction	32 
	            10.12	No Right of Offset	32 
	            10.13	Further Assurances	32 
	            10.14	Deliveries to Buyer	32 
	            10.15	No Third Party Beneficiaries	32 
			

-ii- 

EXHIBITS 

		
	Exhibit A	-   Form of Bill of Sale -- Purchased Assets
	Exhibit B	-   Form of Assignment and Assumption Agreement for Assumed Liabilities
	Exhibit C	-   Form of Cranberry Concentrate Supply Agreement
	Exhibit D	-   Form of Transition Services Agreement
	Exhibit E	-   Form of Opinion of Company Counsel

-iii- 

ASSET PURCHASE
AGREEMENT 

        This
ASSET PURCHASE AGREEMENT (the “Agreement”) is made and entered
into as of this February 22, 2005, by and between Apple & Eve, LLC, a Delaware limited
liability company (“Buyer”), on the one hand, and Northland Cranberries,
Inc., a Wisconsin corporation (the “Company”) and NCI Foods, LLC, a
Wisconsin limited liability company (“NCI”), on the other hand. 

RECITALS 

        WHEREAS,
subject to the terms and conditions set forth herein, Buyer desires to purchase from the
Company (subject to the assumption of certain liabilities), and the Company desires to
sell to Buyer (subject to the assumption of certain liabilities), certain of the assets of
the Company for the consideration set forth herein. 

        NOW,
THEREFORE, in consideration of the representations, warranties, covenants and
agreements set forth herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties agree as follows: 

ARTICLE I
PURCHASE AND SALE OF
PURCHASED ASSETS  

        1.1.    Basic
Transaction.  

                   (a)    Purchased
Assets. On the terms and subject to the conditions set forth in this Agreement, Buyer
shall purchase from the Company, and the Company shall sell, convey, assign, transfer and
deliver to Buyer on the Closing Date, all of the Company’s right, title and interest
in and to the following assets, free and clear of all Liens, other than Permitted Liens
(the “Purchased Assets”):  

                             (i)    All
inventories of raw materials (excluding inventories of fresh cranberries, frozen
cranberries and cranberry juice concentrate, but including dried and chocolate-coated
cranberries), work-in-process and finished goods held for sale by the Juice Division
(excluding all Northland branded finished goods packaged in 64-ounce grip-bottle
containers), together with all related labels, bottles and other bottling and packaging
materials owned by the Company on the Closing Date and located in the facilities
specified in Schedule 1.1(a)(i) (the “Inventory”);  

                             (ii)    All
the Company’s and NCI’s interest in the Trade Rights used or held for use in
connection with the business and operation of the Juice Division and set forth on Schedule
1.1(a)(ii)attached hereto (the “Juice Division Trade Rights”),
including without limitation those assignable Trade Rights assigned to Buyer pursuant to
the Trademark License Agreement, dated December 29, 1998, by and between the Company and
Seneca Foods Corporation (the “Seneca License Agreement”) and those
trademarks held in the name of NCI (the “NCI Marks”). As used herein, the term
“Trade Rights” shall mean and include, with respect to those items listed on Schedule
1.1(a)(ii): (i) trademark rights, business identifiers, trade dress, service marks,
trade names, and brand names; (ii) copyrights and the underlying works of authorship;
(iii) patents and all proprietary rights associated therewith; (iv) contracts or
agreements granting any right, title, license or privilege under the intellectual
property rights of any third party, to the extent assignable; and (v) all registrations
of any of the foregoing, all applications therefor and all goodwill associated with any
of the foregoing;  

                             (iii)    All
Trade Accounts Receivable of the Company related exclusively to the Juice Division;  

                             (iv)    the
list of those customers of the Juice Division set forth in Schedule 1.1(a)(iv) hereto
(the “Customer List”) and all goodwill associated therewith;  

                             (v)    all
of the Company’s rights in, to and under all contracts, purchase orders and sales
orders of the Company pertaining exclusively to the Juice Division, including without
limitation the contracts set forth in Schedule 1.1(a)(v) hereto (the “Purchased
Contracts”);  

                             (vi)    the
personal property set forth on Schedule 1.1(a)(vi) hereto; 

                             (vii)    all
sales literature, promotional literature, catalogs and similar materials of Company
associated exclusively with the Juice Division, including but not limited to signs,
signage and product memorabilia relating to the Juice Division Trade Rights;  

                             (viii)    all
 transferable  licenses,  permits,   approvals,   certifications  and  listings  of
 Company  relating exclusively to the Juice Division; and 

                             (ix)    the
records and files of the Company relating exclusively to the aforementioned assets of the
Juice Division, including, without limitation, transferring invoices, customer and vendor
lists and operating and marketing plans, and all other documents, tapes, discs, programs
or other embodiments of information of the Juice Division.  

                   (b)    Excluded
Assets. Notwithstanding the foregoing, all properties, assets and rights of the
Company other than the Purchased Assets (the “Excluded Assets”) are
expressly excluded from the purchase and sale contemplated hereby and, as such, are not
included in the Purchased Assets, including, but not limited to: (i) all cash and cash
equivalents; (ii) all of the marshes owned by the Company (including the improvements and
equipment located thereon and any contractual rights related thereto); (iii) the fresh
cranberry, frozen cranberry and cranberry juice concentrate inventories of the Company;
(iv) all certificates of deposit, shares of stock, securities, bonds, debentures,
evidences of indebtedness, interests in joint ventures, partnerships, limited liability
companies and other entities; (v) all personnel records other than Transferring Employee
Records, provided that the Company may, in its discretion, retain copies of any or all of
the Transferring Employee Records; (vi) the consideration delivered by Buyer to the
Company pursuant to this Agreement; (vii) the Company’s franchise to be a
corporation, its articles of incorporation, corporate seal, stock books, minute books and
other corporate records; (viii) all federal, state and local income and franchise tax
credits and tax refund claims and associated returns and records; (ix) all of the
equipment, office supplies and personal property of the Company, including without
limitation those items listed in Schedule 1.1(b) hereto; and (x) all contracts not
specified in Schedule 1.1(a)(v) hereto.  

2 

        1.2.    Assumed
Liabilities. Upon the terms and subject to the conditions of this Agreement, Buyer
agrees to assume, satisfy, perform, pay and discharge all of the following Liabilities (“Assumed
Liabilities”):  

                   (a)    all
Liabilities and obligations associated with any open purchase orders and contracts with
respect to sales of juice products related to the Brands (excluding the cranberry juice
concentrate, fresh cranberry and frozen cranberry inventories of the Company), which open
purchase orders and contracts are set forth on Schedule 1.2(a) hereto;  

                   (b)    all
Liabilities and obligations associated with any open purchase orders and contracts with
vendors and suppliers of raw materials related to the Juice Division Brands, which open
purchase orders and contracts are set forth on Schedule 1.2(b) hereto;  

                   (c)    all
Liabilities and obligations associated with the Purchased Contracts and arising after the
Closing Date;  

                   (d)    all
Trade Accounts Payable;  

                   (e)    all
Liabilities and obligations of the Company relating to coupons issued by the Company
prior to the Closing Date and validly redeemed on or after the date nine (9) weeks from
the Closing Date (the “Assumed Coupon Liabilities”);  

                   (f)    all
Liabilities and obligations of the Company associated with any product liability, breach
of warranty or similar claim for injury to person or property asserted after the Closing
Date and related to the Juice Division, but only to the extent based on events occurring
after the Closing Date;  

                   (g)    all
Liabilities and obligations associated with the Business Employees employed by the Buyer
after the Closing Date that arise after the Closing Date and relate to Buyer’s
employment of such employees, except as otherwise provided in and subject to the
agreement of the parties set forth in Section 5.5 hereof;  

                   (h)    all
Liabilities and obligations associated with the failure by Buyer, the Juice Division or
the Purchased Assets to comply with any law, regulation, statute, ordinance or treaty
after the Closing, subject to the agreement of the parties set forth in Section 5.4(c) hereof;
and  

                   (i)    Liens
that are considered Permitted Liens.  

        All
other Liabilities (the “Excluded Liabilities”) shall remain with and be
discharged by the Company. For purposes of this Agreement “Excluded Liabilities” shall
include without limitation all Liabilities and obligations relating to those coupons
issued by the Company prior to the Closing Date which are redeemed in accordance with
their terms before the date nine (9) weeks after the Closing Date, which coupons the
Company shall discharge and pay pursuant to the terms thereof. Anything to the contrary
herein notwithstanding, Buyer shall be and remain liable for all coupons issued after the
Effective Time.  

3 

ARTICLE II
BASIC TRANSACTION  

        2.1.    Purchase
Price.  

                   (a)    The
aggregate purchase price for the Purchased Assets (the “Purchase Price”)
shall be: (i) an amount in cash equal to Nine Million Dollars ($9,000,000) (the “Base
Consideration”), subject to adjustment as provided in Section 2.2 below, and
(ii) the assumption of the Assumed Liabilities. Of the Purchase Price, $500,000 shall be
placed in escrow for a period ending on August 31, 2005, such amount to be used
exclusively for the payment of any Final Adjustment (as defined below) requiring payment
to Buyer. The total escrow amount of $500,000 shall be held pursuant to the terms of the
Escrow Agreement attached as Exhibit 2.1. The amount placed in escrow by the Company
pursuant to this Section 2.1 shall constitute Buyer’s sole and exclusive remedy with
respect to any Final Adjustment to the Purchase Price under this Agreement. With respect
to any upward Final Adjustment to the Purchase Price under this Agreement, Buyer shall
pay to the Company an upward adjustment in an amount not to exceed $500,000, and such
payment shall constitute the Company’s sole and exclusive remedy with respect to any
Final Adjustment to the Purchase Price under this Agreement.  

        2.2.    Purchase
Price Adjustment.  

                   (a)    Preliminary
Adjustment. The Purchase Price shall be adjusted, on a dollar-for-dollar basis, by
the extent to which the Company’s Working Capital attributable to the Juice
Division, as reflected on the Preliminary Balance Sheet (as such terms are defined
below), varies from Two Million Five Hundred Thousand Dollars ($2,500,000). At the
Closing, either: (i) Buyer shall deduct from the Base Consideration the amount, if any,
by which the Working Capital is less than $2,500,000, as reflected on the Preliminary
Balance Sheet; or (ii) Buyer shall pay to Company, in addition to the Base Consideration,
the amount, if any, by which the Working Capital exceeds $2,500,000, as reflected on the
Preliminary Balance Sheet. The amount of the adjustment, if any, made to the Base
Consideration pursuant to this Section 2.2(a) shall be referred to herein as the
“Preliminary Adjustment.” 

                   (b)    Final
Adjustment. On the first (1st) business day following the final
determination of the Final Closing Balance Sheet (as hereinafter defined) (such date
being hereinafter referred to as the “Settlement Date”), either: (i) the
Company shall pay to Buyer the amount, if any, by which the Working Capital as reflected
on the Final Closing Balance Sheet is less than the Working Capital as reflected on the
Preliminary Balance Sheet, together with interest on such amount being paid from the
Closing Date to the date of the payment at the Applicable Rate, or (ii) Buyer shall pay
to the Company the amount, if any, by which the Working Capital as reflected on the Final
Closing Balance Sheet exceeds the Working Capital as reflected on the Preliminary Balance
Sheet, together with interest on such amount being paid from the Closing Date to the date
of the payment at the Applicable Rate. The amount, if any, paid by Buyer or the Company
pursuant to this Section 2.2(b) shall be referred to herein as the “Final
Adjustment.” For example, if Working Capital is $50,000 below $2,500,000 on the
Preliminary Balance Sheet, and ends up $50,000 above $2,500,000 on the Final Closing
Balance Sheet, Buyer will pay the Company $100,000 as a Final Adjustment (i.e., $50,000
because of the Preliminary Adjustment of the Purchase Price downward and then another
$50,000).  

4 

                   (c)    Definition
of Working Capital. The term “Working Capital” shall mean, without
duplication, the excess of: (i) all Trade Accounts Receivable and Inventory of the
Company attributable to the Juice Division over (ii) all Trade Accounts Payable of the
Company attributable to the Juice Division, in each case determined as of the Closing
Date in form and detail identical to, and in its accounting principles and policies
consistent in every respect with, the Company’s past practices, except as
specifically provided herein. As used herein, the following terms shall have the
following meanings:  

                             (i)    Inventory
shall be valued at the Company’s standard cost and shall include overhead
capitalization, less an adjustment of $0.20 per case for finished goods, in each case as
reflected in the bill of materials and the Company’s other books and records as of
the Closing Date, which books and records shall be in form and detail identical to, and
in its accounting principles and policies consistent in every respect with, the Company’s
past practices. Notwithstanding the immediately preceding sentence, the total Inventory
value shall, for purposes of determining Working Capital, be reduced by $150,000 in the
aggregate, in both the Preliminary Balance Sheet and the Final Closing Balance Sheet. All
Inventory which is fit for human consumption as of the Closing Date shall be valued, in
both the Preliminary Balance Sheet and the Final Closing Balance Sheet, at standard cost,
less an adjustment of $0.20 per case for finished goods, and otherwise pursuant to the
terms hereof as of the Closing Date.  

                             (ii)    The
term “Trade Accounts Receivable” shall mean all amounts owing to Company
on accounts receivable related exclusively to the Juice Division, which shall include
without limitation: (i) balances included on the Accounts Receivable Aging Report for the
“01 Grocery,” “03 International” and “04 Food Service” categories
as of the Closing Date, (ii) military receivable balances per the Dixon Marketing, Inc.
Accounts Receivable Aging Report as of the Closing Date, (iii) a cash discount reserve
equal to two percent (2%) of the net receivable balances, (iv) all prepaid expenses,
which prepaid expenses shall be accounted for consistently in every respect with the
Company’s past practices, and (v) a bad debt reserve equal to the amount of those
Trade Accounts Receivables as of the Closing Date which are not collected within 75 days
of the Closing Date. The bad debt reserve referenced in subsection (v) above shall be
reduced by amounts already reflected in the cash discount reserve and the invalid
deduction reserve.  

                             (iii)    The
term “Trade Accounts Payable” shall mean the payables as set forth on Schedule
2.2(c)(iii), which shall include accrued and unpaid market development funds and
slotting fees (collectively, the “MDF”), vendor credits and accrued and unpaid
commissions related exclusively to the Juice Division as of the Closing Date. Trade
Accounts Payable shall not include any accounting for coupons issued by the Company prior
to Closing. Buyer covenants that it shall, on and after the Closing Date, use
commercially reasonable efforts, in consultation with the Company, to collect all MDF
deductions taken by customers of the Juice Division which are unauthorized under the
trade spending commitments set forth in Exhibit 1.1(a)(V)(C) attached to the Company
Disclosure Schedule (the “Trade Spending Commitments”). Buyer shall,
concurrently with the delivery of the Closing Balance Sheet, provide Company with a
written summary of all MDF deductions taken by customers of the Juice Division between
the Closing Date and the delivery of the balance sheet referred to in Section
2.2(d)(ii) below. To the extent the Company reasonably believes such MDF deductions
are unauthorized under the Trade Spending Commitments, Buyer shall, and hereby does,
transfer, assign and subrogate to Company all rights of reimbursement and collection with
respect to such Juice Division customers for all such unauthorized MDF deductions. In
seeking such reimbursement from Juice Division customers related to unauthorized
deductions neither NCI nor its agents will represent themselves as affiliated with, or an
agent of, the Buyer or the Juice Division.  

5 

                   (d)    Determination
of Working Capital.  

                             (i)    Preliminary
Balance Sheet. For purposes of determining the Working Capital and the Purchase Price
payable by the Buyer at the Closing, on or before the Closing Date, the Company has
delivered to Buyer a balance sheet of the Juice Division (the “Preliminary
Balance Sheet”) as of the close of business on the business day immediately
prior to the Closing Date (hereinafter the “Effective Time”), which
Preliminary Balance Sheet represents the Company’s reasonable estimate of the
Working Capital as of the Effective Time, such balance sheet to be in form and detail
identical to, and in its accounting principles and policies consistent in every respect
with, the Company’s past practices and accompanied by schedules setting forth in
reasonable detail all assets and liabilities included therein. Such balance sheet or the
accompanying schedules contains sufficient detail of the Inventory, Trade Accounts
Receivable and Trade Accounts Payable for the determination of Working Capital.  

                             (ii)    The
Final Closing Balance Sheet shall be prepared as follows. Within seventy-five (75) days
after the Closing Date, Buyer shall deliver to Company a balance sheet of the Juice
Division as of the Effective Time, such balance sheet to be in form and detail identical
to, and in its accounting principles and policies consistent in every respect, with the
Company’s past practices and accompanied by schedules setting forth in reasonable
detail all assets and liabilities included therein. The balance sheet shall be
accompanied by detailed schedules of the Inventory, Trade Accounts Receivable and Trade
Accounts Payable, and by a report setting forth the amount of Working Capital reflected
in the balance sheet and the amount of any further adjustment to the Purchase Price to be
paid and by whom pursuant to Section 2.2(b) hereof. The Inventory as reflected on
the Final Closing Balance Sheet shall be as reflected on the Preliminary Balance Sheet,
except to the extent the physical inventory taken by the parties on or about February 11,
2005 diverges from the Preliminary Balance Sheet. The MDF shall reflect actually incurred
deductions or payments (provided that such payments are in accordance with the Trade
Spending Commitments) in the time between the Preliminary and Closing Balance Sheet, plus
any unused MDF from the Preliminary Balance Sheet. All actual MDF deductions are subject
to the unauthorized deductions of Section 2.2(c)(iii) above.  

                             (iii)    Within
thirty (30) days following the delivery of the balance sheet referred to in Section
2.2(d)(ii) above, the Company may object to any of the information contained in said
balance sheet or accompanying schedules which could affect the necessity or amount of any
payment by Buyer or the Company pursuant to Section 2.2(b) hereof. Any such
objection shall be made in writing and shall state the Company’s determination of
the amount of the Working Capital as of the Effective Time.  

                             (iv)    In
the event of a dispute or disagreement relating to the Final Closing Balance Sheet which
Buyer and the Company are unable to resolve, either party may elect to have all such
disputes or disagreements resolved by Grant Thornton or, failing Grant Thornton’s
willingness to so serve, such other independent accounting firm of nationally recognized
standing as may be mutually selected by Buyer and the Company (the “Independent
Accounting Firm”). The parties agree to instruct the Independent Accounting Firm
to calculate the Working Capital of the Juice Division as of the Effective Time and to
determine the amount of the Final Adjustment based on the books and records of the
Company existing as of the Effective Time (and not on any independent investigation by
the Independent Accounting Firm), and using accounting principles and policies consistent
in every respect with the Company’s past practices. The Independent Accounting Firm’s
calculation of the Working Capital and determination of the Final Adjustment shall be
final and binding on the parties for purposes hereof; provided, however, that,
notwithstanding any provision to the contrary contained herein: the parties agree to
instruct the Independent Accounting Firm that the Working Capital as determined by the
Independent Accounting Firm shall be no less than the Working Capital as determined by
Buyer pursuant to Section 2.2(d)(ii) above and no greater than the Working Capital
as determined by the Company pursuant to Section 2.2(d)(iii) above. The
Independent Accounting Firm shall be instructed to use every reasonable effort to perform
its services within fifteen (15) days of submission of the balance sheet to it and, in
any case, as soon as practicable after such submission.  

6 

                             (v)    Buyer
agrees to permit the Company, the Company’s accountants, and their respective
representatives, during normal business hours, to have reasonable access to, and to
examine and make copies of, all books and records of the Juice Division, including but
not limited to the books, records, schedules, work papers and audit programs of Buyer and
Buyer’s accountants and access to representatives of Buyer’s accountants,
necessary in order to review the balance sheet and Working Capital calculation delivered
by Buyer or otherwise used or useful in the preparation of the Final Closing Balance
Sheet in accordance with this Agreement. Buyer agrees that, following the Closing through
the date that the Working Capital becomes final and binding on the parties hereto in
accordance with the terms of this Agreement, it will not take any actions, or permit any
actions to be taken, with respect to any accounting books, records, policies or
procedures on or from which the Working Capital is to be based or derived that are
inconsistent with the Company’s past practice or that would impede or delay the
preparation of the Final Closing Balance Sheet or the determination of the Working
Capital in the manner and utilizing the methods required by this Agreement. In addition,
the Company’s accountants shall have the opportunity to observe the taking of any
physical inventory in connection with the preparation of such balance sheet.  

                             (vi)    The
fees and expenses of the Independent Accounting Firm shall be allocated to the parties as
determined by the Accounting Firm based upon the relative success (in terms of
percentages) of each party’s claim. For example, if the Independent Accounting Firm’s
calculation of the Working Capital and determination of the Final Adjustment reflects a
60-40 compromise of the parties’ claims, the Independent Accounting Firm would
allocate expenses 40% to the party whose claim was determined to be 60% successful and
60% to the party whose claim was determined to be 40% successful.  

                             (vii)    As
used in this Agreement, the term “Final Closing Balance Sheet” shall
mean the balance sheet of the Juice Division as of the Effective Time as finally
determined for purposes of this Article II, whether by acquiescence of the
Company in the figures supplied by Buyer in accordance with Section 2.2(d)(ii), by
negotiation and agreement of the parties or by the Independent Accounting Firm in
accordance with Section 2.2(d)(iv).  

7 

        2.3.    Closing.  The
closing of the transactions contemplated by this Agreement (the “Closing”)
shall take place at the offices of Foley & Lardner LLP, 777 East Wisconsin Avenue,
Milwaukee, Wisconsin on the date hereof, or at such other time and place as is mutually
agreeable to the parties. The date on which the Closing shall occur is referred to herein
as the “Closing Date.” 

        2.4.    Allocation
of Purchase Price.  The Company and Buyer shall jointly prepare an
allocation of the Purchase Price among the Purchased Assets in accordance with Internal
Revenue Code §1060 and Treasury regulations thereunder (and any similar provision of
state, local or foreign law, as appropriate) within thirty (30) days after the final
Working Capital Amount is finally determined pursuant to Section 2.2 hereof.
The Company and Buyer shall report, act, and file Tax Returns (including, but not limited
to Internal Revenue Service Form 8594) in all respects and for all purposes consistent
with such allocation. Buyer and the Company shall timely and properly prepare, execute,
file, and deliver all such documents, forms, and other information as the other party may
reasonably request in preparing such allocation. Neither the Company nor Buyer shall take
any position (whether in audits, tax returns, or otherwise) that is inconsistent with
such allocation unless required to do so by applicable law.  

        2.5.    Closing
Deliveries.    

                   (a)    Deliveries
of the Company.  The Company shall deliver to Buyer at the Closing:  

                             (i)    A
bill of sale substantially in the form attached hereto as Exhibit A, duly
executed and acknowledged by the Company, conveying to Buyer all of the Company’s
right, title, and interest in the personal property included in the Purchased Assets;  

                             (ii)    An
assignment and assumption agreement (the “Assignment and Assumption Agreement”)
substantially in the form attached hereto as Exhibit B, duly executed by the
Company, under which the Company assigns and Buyer assumes the Assumed Liabilities;  

                             (iii)    An
agreement for the supply of cranberry juice concentrate (the “Cranberry
Concentrate Supply Agreement”) substantially in the form attached hereto as Exhibit C,
duly executed by the Company, under which the Company agrees to supply, and Buyer agrees
to purchase, cranberry juice concentrate during the term thereof;  

                             (iv)    An
agreement for the provision of transition services (the “Transition Services
Agreement”) substantially in the form attached hereto as Exhibit D,
duly executed by the Company, under which the Company agrees to supply, and Buyer agrees
to pay for, certain transition services during the term thereof;  

                             (v)    An
assignment and assumption agreement, duly executed by the Company, NCI Foods, LLC, a
Wisconsin limited liability company (“NCI”) and Seneca Foods Corporation, a New
York corporation (“Seneca”), under which: (i) NCI assigns to Buyer and Buyer
assumes all of NCI’s rights under the Seneca License Agreement and (ii) Seneca
consents to the assignment of the Seneca License Agreement to Buyer;  

8 

                             (vi)    All
of the consents set forth on Schedule 2.5(a)(vi) hereto (the “Material
Consents”);  

                             (vii)    A
copy of the resolution of the board of directors of the Company authorizing the
execution, delivery and performance of this Agreement and the other documents and
agreements contemplated hereby, and the consummation of the transactions contemplated
hereby and thereby, certified by the secretary or an assistant secretary of the Company;
and  

                             (viii)    The
opinion of Company counsel, in the form attached hereto as Exhibit “E.” 

                   (b)    Deliveries
of Buyer. At the Closing, Buyer shall pay to the Company the Base Consideration, plus
or minus the Preliminary Adjustment, such amounts payable by wire transfer of immediately
available federal funds to such account or accounts at a bank or financial institution as
the Company may specify to Buyer in writing. Buyer shall also have delivered to the
Company at the Closing:  

                             (i)    A
copy of the resolution of the board of directors of Buyer authorizing the execution and
performance of this Agreement and the other documents and agreements contemplated hereby,
certified by the secretary or an assistant secretary of Buyer;  

                             (ii)    The
Assignment and Assumption Agreement duly executed by Buyer;  

                             (iii)    The
Cranberry Concentrate Supply Agreement duly executed by Buyer;  

                             (iv)    The
Transition Services Agreement, duly executed by Buyer.  

ARTICLE III
REPRESENTATIONS AND
WARRANTIES OF THE COMPANY  

        The
Company hereby represents and warrants to Buyer as of the date of this Agreement that the
statements contained in this Article III are true and correct, subject to the
exceptions set forth in the disclosure schedule delivered by the Company to Buyer
concurrently with the execution of this Agreement and dated as of the date of this
Agreement (the “Company Disclosure Schedule”). The Company Disclosure
Schedule shall be arranged according to specific sections in this Agreement and shall
provide exceptions to, or otherwise qualify in reasonable detail, the corresponding
section in this Agreement and any other section in this Agreement where it is reasonably
clear that the disclosure is intended to apply to such other section.  

        3.1.    Organization
and Qualification.  The Company is a corporation duly organized, validly
existing and in active status under the laws of the state of Wisconsin and is qualified
to do business and in good standing as a foreign corporation in each jurisdiction where
the properties owned, leased or operated, or the business conducted, by it require such
qualification, except where failure to so qualify or be in good standing is not
reasonably likely to have a Material Adverse Effect on the Company. The Company has the
corporate power and authority and all necessary governmental approvals to own, lease and
operate its properties and to carry on its business as it is now being conducted. The
Company has heretofore made available to Buyer a complete and correct copy of its
articles of incorporation (including all certificates of designation or the equivalent
thereof) and bylaws, each as amended to the date hereof. Such articles of incorporation
and bylaws, each as amended to date, are in full force and effect.  

9 

        3.2.    Authority.  The
Company has the necessary corporate power and authority to execute and deliver this
Agreement and perform its obligations hereunder and to consummate the transactions
contemplated hereby. The execution and delivery of this Agreement by the Company and the
consummation by the Company of the transactions contemplated hereby have been duly and
validly authorized by all necessary corporate action on the part of the Company and no
other corporate proceedings on the part of the Company, nor any stockholder vote or
consent, is necessary to authorize this Agreement or to consummate the transactions
contemplated hereby. This Agreement has been duly and validly executed and delivered by
the Company, and, assuming this Agreement constitutes a legal, valid and binding
obligation of Buyer, this Agreement constitutes a legal, valid and binding agreement of
the Company, enforceable against the Company in accordance with its terms (except in all
cases as such enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, or similar laws affecting the enforcement of creditor’s
rights generally and except that the availability of the equitable remedy of specific
performance or injunctive relief is subject to the discretion of any court before which
any proceeding may be brought).  

        3.3.    No
Violation; Consents.  

                   (a)    Except
as set forth on Section 3.3 of the Company Disclosure Schedule, and except with
regard to the confidentiality provisions of those contracts listed on Section 3.3(a) of
the Disclosure Schedule, neither the execution and delivery of this Agreement by the
Company nor the consummation by the Company of the transactions contemplated hereby will
conflict with or constitute a breach or violation of any provision of the articles of
incorporation or bylaws of the Company, as amended, constitute a material breach,
violation or default (or any event which, with notice or lapse of time or both, would
constitute a default) under, or result in the termination of or permit any other party to
terminate, require the consent from or the giving of notice to any other party to, or
accelerate the performance required by, or result in the creation of any Lien upon any of
the Purchased Assets under, any note, bond, mortgage, indenture, deed of trust, or any
material license, lease, agreement or other material instrument to which the Company, or
by which it or any of the Purchased Assets, are bound, or conflict with or violate any
material order, judgment or decree, or any material law, statute, ordinance, rule or
regulation applicable to the Company, or by which it or any of the Purchased Assets may
be bound or affected.  

                   (b)    The
execution and delivery of this Agreement by the Company do not, and the performance of
this Agreement by the Company and the transfer of the Purchased Assets to Buyer will not,
require any consent, approval, authorization or permit of, or filing with or notification
to, any Governmental Entity, except where the failure to obtain any such consent,
approval, authorization or permit, or to make any such filing or notification, would not
prevent or materially delay consummation of the transactions contemplated hereby, or
otherwise prevent or materially delay the Company from performing its obligations under
this Agreement and would not, individually or in the aggregate, have a Material Adverse
Effect and would not materially impact the Buyer’s ability to commercially exploit
the Purchased Assets.  

10 

        3.4.    Title
to Purchased Assets; Condition of Assets.    

                   (a)              The
Company has the power and the right to sell, assign and transfer and the
          Company will sell and deliver to Buyer, and upon consummation of the
          transactions contemplated by this Agreement, Buyer will acquire good and
          marketable title to the Purchased Assets, free and clear of all Liens other
than           Permitted Liens.  

                   (b)              Except
as set forth on Section 3.4 of the Company Disclosure           Schedule, the
Company has good and marketable title to, or a valid leasehold           interest in the
personal property included in the Purchased Assets.  

        3.5.    Broker’s
Fees.  Except as set forth on Section 3.5 of the Company
Disclosure Schedule, the Company has no liability or obligation to pay any fees or
commissions to any broker, finder, or agent with respect to the transactions contemplated
by this Agreement for which the Buyer would become liable or obligated. All obligations
for fees or commissions owing to the Persons listed on Section 3.5 of the
Company Disclosure Schedule shall be the responsibility of the Company.  

        3.6.    Legal
Compliance; Permits.    

                   (a)    Except
as set forth on Section 3.6 of the Company Disclosure Schedule, the Company
is and has been in compliance in all material respects with all applicable laws relating
to the Juice Division (including rules, regulations, codes, plans, injunctions,
judgments, orders, decrees, rulings, and charges thereunder) of federal, state, local,
and foreign governments (and all agencies thereof), and the Company has not received
written notice that any action, suit, proceeding, hearing, investigation, charge,
complaint, claim, demand, or notice has been filed or commenced against the Company
alleging any failure so to comply.  

                   (b)    Except
as disclosed in Section 3.6 of the Company Disclosure Schedule, the Company is in
possession of all franchises, grants, authorizations, licenses, permits, easements,
variances, exceptions, consents, certificates, approvals and orders of any Governmental
Entity necessary for the Company to own, lease and operate its properties or to carry on
its business it is now being conducted with respect to the Juice Division (the “Company
Permits”), except where the failure to obtain any such Company Permits would not
prevent or materially delay consummation of the transactions contemplated hereby, or
otherwise prevent or materially delay the Company from performing its obligations under
this Agreement and would not, individually or in the aggregate, have a Material Adverse
Effect. As of the date hereof, no suspension or cancellation of any of the Company
Permits is pending or, to the knowledge of the Company, threatened.  

        3.7.    Trade
Rights.  Schedule 1.1(a)(ii) lists all Juice Division Trade Rights
which are Trade Rights of the type described in clauses (i), (ii) or (iii) of Section
1.1(a)(ii) in which the Company or NCI now has any interest, specifying whether such
Trade Rights are owned, controlled, used or held (under license or otherwise) by the
Company or NCI, and also indicating which of such Trade Rights are registered. Except as
set forth in Section 3.7 of the Disclosure Schedule, all Juice Division Trade
Rights shown as registered in Schedule 1.1(a)(ii) have been properly registered,
all pending registrations and applications have been properly made and filed and all
annuity, maintenance, renewal and other fees relating to registrations or applications
are current. Except as set forth in Section 3.7 of the Disclosure Schedule, the
Company is not to its knowledge infringing and has not infringed any Trade Rights of
another in the operation of the business of the Company and to the knowledge of the
Company, no other Person is infringing the Trade Rights of the Company. Except as set
forth in Section 3.7 of the Company Disclosure Schedule, the Company has not
granted any license or made any assignment of any registered Juice Division Trade Right
listed on Schedule 1.1(a)(ii), and no other Person has any right to use any
registered Juice Division Trade Right owned or held by the Company. Except as set forth
in Section 3.7 of the Company Disclosure Schedule, there is no Litigation pending
or, to the knowledge of the Company, threatened to challenge the Company’s right,
title and interest with respect to its continued use and right to preclude others from
using any Juice Division Trade Rights of the Company. Except as set forth on Section
3.7 of the Disclosure Schedule, all registered Juice Division Trade Rights of the
Company are valid, enforceable and in good standing, and there are no equitable defenses
to enforcement based on any act or omission of the Company.  

11 

        3.8.    Tax
Matters.  

                   (a)    The
Company has filed all Tax Returns that it was required to file with respect to the Juice
Division and has paid all Taxes shown thereon as owing. Except as set forth in Section
3.8(a) of the Company Disclosure Schedule, the Company is not currently the
beneficiary of any extension of time within which to file any Tax Return with respect to
the Juice Division. There are no security interests on any of the assets of the Company
used in the Juice Division that arose in connection with any failure (or alleged failure)
to pay any Tax.  

                   (b)    There
is no dispute or claim concerning any Tax Liability with respect to the Juice Division
claimed or raised by any authority in writing. Section 3.8(b) of the Company
Disclosure Schedule lists all federal, state, local, and foreign income Tax Returns filed
with respect to the Juice Division for taxable periods ended on or after August 31, 2002,
and indicates those Tax Returns that have been audited, and indicates those Tax Returns
that currently are the subject of audit.  

                   (c)    The
Company has not waived any statute of limitations in respect of Taxes or agreed to any
extension of time with respect to a Tax assessment or deficiency with respect to the
Juice Division.  

                   (d)    The
Company is not a party to any Tax allocation or sharing agreement. The Company (i) has
not been a member of an affiliated group filing a consolidated federal income Tax Return
(other than a group the common parent of which was the Company) and (ii) does not have
any Liability for the Taxes or any Person under Treas. Reg. 1.1502-6 (or any similar
provision of state, local, or foreign law), as a transferee or successor, by contract, or
otherwise.  

        3.9    Contracts.  The
agreements listed in Schedule 1.1(a)(iii)constitute all of the agreements
relating exclusively to the Juice Division which are material to the operation of the
Juice Division. Except as set forth on Section 3.9of the Company Disclosure
Schedule, the Company has delivered to the Buyer a correct and complete copy of each
written agreement listed in Schedule 1.1(a)(iii) (as amended to date) and a
written summary setting forth the material terms and conditions of each oral agreement
referred to in Schedule 1.1(a)(iii). Except as set forth in Section 3.9 of
the Company Disclosure Schedule, with respect to each such agreement: (a) the agreement
is a legal, valid, binding, and enforceable obligation of the Company enforceable in
accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation, fraudulent conveyance and other similar laws and principles of
equity affecting creditors’ rights and remedies generally; (b) neither the Company
nor, to the knowledge of the Company, any other party thereto is in material breach or
default, and no event has occurred which with notice or lapse of time would constitute a
material breach or default, or permit termination, modification, or acceleration, under
the agreement; and (c) neither the Company nor, to the knowledge of the Company, any
other party thereto has repudiated any provision of the agreement.  

12 

        3.10.    Trade
Accounts Receivable. All Trade Accounts Receivable reflected on the Preliminary
Balance Sheet, and as incurred in the normal course of business since the date thereof,
represent arm’s length sales actually made in the ordinary course of business.  

        3.11.    Inventory. Except
as set forth on Section 3.11 of the Company Disclosure Schedule, all Inventory
reflected on the Preliminary Balance Sheet is fit for human consumption. Except as set
forth on Section 3.11 of the Company Disclosure Schedule, all packaging, labels
and finished goods contained in the Inventory of the Juice Division are in compliance in
all material respects as to content, labeling and packaging with applicable laws and
regulations (including, without limitation, those of the U.S. Department of Agriculture
and U.S. Food and Drug Administration).  

        3.12.    Major
Customers and Suppliers.    

                   (a)    Section
3.12(a) of the Company Disclosure Schedule contains a list of the ten (10) largest
customers, including distributors, of the Juice Division for each of the two (2) most
recent fiscal years and for the five-month period ending January 31, 2005 (determined on
the basis of the total dollar amount of sales) showing the total dollar amount of sales
to each such customer during each such year or period.  

                   (b)    Section
3.12(b) of the Company Disclosure Schedule contains a list of the ten (10) largest
suppliers to the Juice Division for each of the two most recent fiscal years and for the
five-month period ending January 31, 2005 (determined on the basis of the total dollar
amount of purchases) showing the total dollar amount of purchases from each such supplier
during each such year or period. Section 3.12(b) of the Company Disclosure
Schedule also contains a true and correct list of all contracts for the purchase of fruit
juice concentrate in excess of $50,000.  

                   (c)    Section
3.12(c) of the Company Disclosure Schedule contains a list by product line of all
sales representatives and brokers of the Juice Division, together with representative
copies of all sales representative and broker contracts.  

        3.13.    Litigation.  Section 3.13of
the Company Disclosure Schedule sets forth each instance in which the Company: (i) is
subject to any outstanding injunction, judgment, order, decree, ruling, or charge related
to the Purchased Assets or (ii) is a party or, to the knowledge of the Company, is
threatened to be made a party to any action, suit, proceeding, hearing, or investigation
related to the Purchased Assets of, in, or before any court or quasi-judicial or
administrative agency of any federal, state, local, or foreign jurisdiction or before any
arbitrator. Except as described in Section 3.13 of the Company Disclosure
Schedule, none of the actions, suits, proceedings, hearings, and investigations set forth
in Section 3.13 of the Company Disclosure Schedule reasonably could be
expected to result in any Material Adverse Effect with respect to the Purchased Assets.  

13 

        3.14.    Labor
Matters.    

                   (a)    Except
as set forth in Section 3.14 of the Disclosure Schedule, (a) there are no material
controversies pending or, to the knowledge of the Company, threatened between the Company
or any Company Subsidiary and any Persons employed by the Juice Division, which
controversies would prevent or materially delay consummation of the transaction
contemplated hereby or otherwise prevent or materially delay the Company from performing
its obligations under this Agreement or would, individually or in the aggregate, have a
Material Adverse Effect; (b) neither the Company nor any Company Subsidiary is a party to
any collective bargaining agreement or other labor union contract applicable to Persons
employed by the Juice Division of the Company or any Company Subsidiary, nor, to the
knowledge of the Company, are there any activities or proceedings of any labor union to
organize any such employees; (c) neither the Company nor any Company Subsidiary has
breached or otherwise failed to comply with any material provision of any such agreement
or contract, and there are no grievances outstanding against the Company or any Company
Subsidiary under any such agreement or contract with respect to the Juice Division; (d)
there are no unfair labor practice complaints pending against the Company or any Company
Subsidiary before the National Labor Relations Board or any current union representation
questions involving employees of the Company or any Company Subsidiary; and (e) there is
no strike, slowdown, work stoppage or lockout, or, to the knowledge of the Company,
threat thereof, by or with respect to any employees of the Company or any Company
Subsidiary with respect to the Juice Division.  

                   (b)    Except
as set forth in Section 3.14(b) of the Company Disclosure Schedule, the Company and the
Company Subsidiaries are in compliance with all applicable laws relating to the
employment of labor, including those related to wages, hours, collective bargaining and
the payment and withholding of taxes and other sums as required by the appropriate
Governmental Entity and has withheld and paid to the appropriate Governmental Entity or
are holding for payment not yet due to such Governmental Entity all amounts required to
be withheld from Persons employed by the Juice Division of the Company or any Company
Subsidiary and are not liable for any arrears of wages, taxes, penalties or other sums
for failure to comply with any of the foregoing except for any non-compliance that would
not prevent or materially delay consummation of the transactions contemplated hereby or
otherwise prevent or materially delay the Company from performing its obligations under
this Agreement and would not, individually or in the aggregate, have a Material Adverse
Effect. The Company and the Company Subsidiaries have paid in full all employees of the
Juice Division or adequately accrued for in accordance with U.S. GAAP consistently
applied all wages, salaries, commissions, bonuses, benefits and other compensation due to
or on behalf of such employees and there is currently pending no material claim against
the Company or any Company Subsidiary with respect to payment of wages, salary or
overtime pay that has been asserted or, to the Company’s knowledge, is now pending
or threatened before any Governmental Entity with respect to any persons currently or
formerly employed by the Juice Division of the Company or any Company Subsidiary. Neither
the Company nor any Company Subsidiary is a party to, or otherwise bound by, any consent
decree with, or citation by, any Governmental Entity relating to employees or employment
practices. There is no charge or proceeding with respect to a material violation of any
occupational safety or health standards that has been asserted or, to the Company’s
knowledge, is now pending or threatened with respect to the Company. There is currently
pending no charge of discrimination in employment or employment practices, for any
reason, including, without limitation, age, gender, race, religion or other legally
protected category, which has been asserted or is now pending or to the Company’s
knowledge threatened before the United States Equal Employment Opportunity Commission, or
any other Governmental Entity in any jurisdiction in which the Company or any Company
Subsidiary have employed or employ any person relating to the Juice Division.  

14 

        3.15.    Purchased
Assets. Except as set forth on Schedule 1.1(b), the Purchased Assets include all of
the assets of the Company which are currently used in the operation of the Juice Division
currently conducted by the Company as of the date hereof  

        3.16.    Environmental
Matters. Except as described in Section 3.16 of the Company Disclosure Schedule and
except as such relates to any real property of the Company (none of which is being
conveyed to Buyer hereunder), to the Company’s knowledge and only as such relates to
the Juice Division, (a) the Company and the Company Subsidiaries have not materially
violated and are not in material violation of any Environmental Law (as defined below);
(b) none of the properties currently or formerly owned, leased or operated by the Company
and the Company Subsidiaries (including, without limitation, soils and surface and ground
waters) are or were contaminated by the Company or the Company Subsidiaries with any
Hazardous Substance (as defined below); (c) neither the Company nor the Company
Subsidiaries are liable for any off-site contamination by Hazardous Substances; (d) the
Company and the Company Subsidiaries are not liable under any Environmental Law
(including, without limitation, pending or threatened liens); (e) the Company and the
Company Subsidiaries have all permits, licenses and other authorizations required under
any Environmental Law (“Environmental Permits”); (f) the Company and the
Company Subsidiaries are in material compliance with their Environmental Permits; and (g)
neither the execution of this Agreement nor the consummation of the transactions
contemplated herein will require any investigation, remediation or other action with
respect to Hazardous Substances, or any notice to or consent of Governmental Entities or
third parties, pursuant to any applicable Environmental Law or Environmental Permit.  

        “Environmental
Law” means any applicable federal, state or local law in effect as of the date
hereof relating to (A) releases or threatened releases of Hazardous Substances or
materials containing Hazardous Substances; (B) the manufacture, handling, transport, use,
treatment, storage or disposal of Hazardous Substances or materials containing Hazardous
Substances; or (C) otherwise relating to pollution or protection of the environment,
health, safety or natural resources.  

        “Hazardous
Substances” means (i) those substances defined in or regulated under the
following federal statutes and their state counterparts in effect as of the date hereof,
as each may be amended from time to time, and all regulations thereunder in effect as of
the date hereof: the Hazardous Materials Transportation Act, the Resource Conservation
and Recovery Act, the Comprehensive Environmental Response, Compensation and Liability
Act, the Clean Water Act, the Safe Drinking Water Act, the Atomic Energy Act, the Federal
Insecticide, Fungicide, and Rodenticide Act and the Clean Air Act; (ii) petroleum and
petroleum products, including crude oil and any fractions thereof; (iii) natural gas,
synthetic gas, and any mixtures thereof; (iv) polychlorinated biphenyls, asbestos and
radon; (v) any other contaminant; and (vi) any substance, material or waste regulated by
any federal, state, local or foreign Governmental Entity pursuant to any Environmental
Law.  

15 

        3.17.    Insurance.              Section
3.17 of the Company Disclosure Schedule contains a list of all policies           of
insurance to which each of the Company and the Company Subsidiaries are a           party
or are a beneficiary or named insured.  

        3.18.    Financial
Information. The Company has provided to Buyer the Preliminary Balance Sheet, as well
as its historical sales reports, costs of goods, coupon accruals, accrued and unpaid
market development funds and slotting fees, commission accruals, cash discounts, freight
and advertising expenses for the twelve (12) months ended August 31, 2004 and the five
(5) months ended January 31, 2005 (together with the Preliminary Balance Sheet, the “Financial
Information”). The Financial Information provided to Buyer was compiled from the
Company’s consolidated financial statements and is complete and accurate in all
material respects. Buyer acknowledges and agrees that the Company does not maintain
segregated audited or unaudited financial statements specific to the Juice Division or
the Purchased Assets, and that as such all Financial Information provided hereunder is
not represented or warranted to comply or otherwise have been prepared in accordance with
GAAP.  

        3.19.    Undisclosed
Liabilities. Except for those liabilities that are disclosed in Section 3.19 of the
Company Disclosure Schedule or are fully reflected or reserved against on the Preliminary
Balance Sheet, neither the Company nor any Company Subsidiary has outstanding any
liability or obligation of any nature whatsoever relating to the Juice Division (whether
absolute, accrued, contingent or otherwise and whether due or to become due).  

        3.20.    Limitations
on Representations and Warranties. BUYER SPECIFICALLY ACKNOWLEDGES AND AGREES THAT (a) EXCEPT
AS EXPRESSLY SET FORTH IN ARTICLE III OF THIS AGREEMENT, THE COMPANY IS TRANSFERRING THE
PURCHASED ASSETS “AS IS, WHERE IS AND WITH ALL FAULTS” AND (b) EXCEPT FOR THE
REPRESENTATIONS AND WARRANTIES OF THE COMPANY EXPRESSLY SET FORTH IN ARTICLE III OF THIS
AGREEMENT, NEITHER THE COMPANY NOR ANY OTHER PERSON IS MAKING, AND BUYER IS NOT RELYING
ON, ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER, WHETHER ORAL OR WRITTEN,
EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE, AS TO ANY MATTER CONCERNING ANY OF THE
PURCHASED ASSETS OR THE TRANSACTIONS CONTEMPLATED HEREBY, OR THE ACCURACY OR COMPLETENESS
OF ANY INFORMATION PROVIDED TO BUYER BY THE COMPANY OR ANY OTHER PERSON OR OTHERWISE
OBTAINED BY BUYER CONCERNING ANY OF THE PURCHASED ASSETS OR THE TRANSACTIONS CONTEMPLATED
HEREBY, INCLUDING, BUT NOT LIMITED TO: (i) the quality, nature, merchantability, use,
operation, value, marketability, adequacy or physical condition of any of the Purchased
Assets or any aspect or portion thereof; (ii) the magnitude or dimensions of any of the
Purchased Assets; (iii) the development or income potential of, or rights of or relating
to the development or income potential of, any of the Purchased Assets, or the fitness,
suitability, value or adequacy of any of the Purchased Assets for any particular purpose;
(iv) the compliance of any of the Purchased Assets or their operation with any applicable
codes, laws, regulations, statutes, ordinances, covenants, conditions and restrictions of
any authority or of any other Person; (v) the ability of Buyer to obtain any necessary
governmental approvals, licenses or permits for the use or development of any of the
Purchased Assets; or (vi) the likelihood that customers and suppliers of the Juice
Division business will after Closing continue their relationship with the Juice Division
Brands, maintain such relationship with the Juice Division at substantially the same
level, or continue to purchase inventory of products relating to the Juice Division
Brands.  

16 

ARTICLE IV  

REPRESENTATIONS AND
WARRANTIES OF BUYER  

        Buyer
hereby represents and warrants to the Company as of the date of this Agreement that the
statements contained in this Article IV are true and correct.  

        4.1.    Organization
and Qualification.  Buyer is a limited liability company duly organized,
validly existing and in good standing under the laws of the state of Delaware. Buyer has
the limited liability company power and authority and all necessary governmental
approvals to own, lease and operate its properties and to carry on its business as it is
now being conducted, except where the failure to have such power or authority and
governmental approvals is not reasonably likely to have a Material Adverse Effect on
Buyer. Buyer has heretofore made available a complete and correct copy of its certificate
of formation, as amended to the date hereof. Such certificate of formation, as amended to
date, is in full force and effect.  

        4.2.    Authority.  Buyer
has the corporate power and authority to execute and deliver this Agreement and to
consummate the transactions contemplated hereby. The execution and delivery of this
Agreement by Buyer and the consummation by Buyer of the transactions contemplated hereby
have been duly and validly authorized by all necessary corporate action on the part of
Buyer. This Agreement has been duly and validly executed and delivered by Buyer, and,
assuming this Agreement constitutes a valid and binding obligation of the Company, this
Agreement constitutes a valid and binding agreement of Buyer, enforceable against Buyer
in accordance with its terms (except in all cases as such enforceability may be limited
by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws
affecting the enforcement of creditor’s rights generally and except that the
availability of the equitable remedy of specific performance or injunctive relief is
subject to the discretion of any court before which any proceeding may be brought).  

        4.3.    No
Violation. Neither the execution and delivery of this Agreement by Buyer nor the
consummation by Buyer of the transactions contemplated hereby will (i) constitute a
breach or violation of any provision of its certificate of incorporation or bylaws, as
amended, constitute a material breach, violation or default (or any event which, with
notice or lapse of time or both, would constitute a default) under, or result in the
termination of or permit any other party to terminate, or accelerate the performance
required by, or result in the creation of any Lien upon any property or asset of Buyer
under, any note, bond, mortgage, indenture, deed of trust or any material license, lease,
agreement or other material instrument to which Buyer or its properties or assets, are
bound, or subject to the receipt of the requisite consents, approvals, or authorizations
of, or filings with Governmental Entities, conflict with or violate any material statute,
ordinance, rule or regulation applicable to Buyer, or by which it or any of its
properties or assets may be bound or affected. Neither the execution and delivery of this
Agreement by Buyer nor the consummation by Buyer of the transactions contemplated hereby
will conflict with or violate any order, judgment or decree applicable to Buyer, or by
which it or any of its properties or assets may be bound or affected.  

17 

        4.4.    Finder’s
Fees. No Person retained by Buyer or its Affiliates is or will be entitled to any
commission or finder’s or similar fee in connection with the transactions
contemplated by this Agreement.  

        4.5.    Litigation.              There
is no suit, claim, proceeding or investigation pending or, to Buyer’s
          knowledge, threatened against Buyer which is reasonably likely to have a
          Material Adverse Effect on Buyer or would reasonably be expected to prevent or
          delay the consummation of the transactions contemplated by this Agreement.
Buyer           is not a party to or bound by any outstanding order, writ, injunction or
decree           which is reasonably likely to have a Material Adverse Effect on Buyer or
would           reasonably be expected to prevent or delay the consummation of the
transactions           contemplated hereby.  

        4.6.    Funding.              Buyer
has and will have at Closing and upon the Settlement Date, cash sufficient           to
enable it to timely and fully perform all of its obligations hereunder,
          including without limitation the payment of the Base Consideration, the
          Preliminary Adjustment and any Final Adjustment payable to the Company.  

        4.7.    Company
Stock. Buyer does not own, nor within the past three years has it owned (directly or
indirectly, beneficially or of record), any capital stock of the Company and is not a
party to any agreement, arrangement, or understanding for the purpose of acquiring,
holding, voting, or disposing of, in each case, any share of capital stock of the
Company.  

ARTICLE V
FURTHER AGREEMENTS  

        5.1.    Confidentiality.              The
parties acknowledge that Buyer and the Company have previously executed a
          Confidentiality Agreement dated December 15, 2003, (the “Confidentiality
          Agreement”), which Confidentiality Agreement will terminate upon
          Closing and be replaced by the confidentiality provisions of this Agreement.  

        5.2.    Public
Disclosure. Buyer and the Company agree that the initial press release with respect
to the transactions contemplated hereby shall be in a form agreed to by and between Buyer
and the Company; provided, however, that nothing contained in this Agreement shall
prohibit the Company from making any disclosure of the transactions contemplated hereby
which the Company reasonably determines is required by applicable law.  

        5.3.    Preservation
of Books and Records. Buyer agrees that the Company may retain copies of all original
books and records in respect of the Business, and that Buyer shall preserve and keep, or
cause to be preserved and kept, all original books and records in respect of the Business
in the possession of Buyer or its Affiliates for a period of six (6) years after the
Closing Date (the “Record Retention Period”). The Company or its
representatives, upon reasonable notice and for any reasonable business purpose, shall
have access during normal business hours to examine, inspect and copy such books and
records. Buyer shall provide the Company or its representatives with, or cause to be
provided to the Company or its representatives, such original books and records of the
Business as the Company or its representatives shall reasonably request in connection
with any action to which the Company is a party or in connection with the requirements of
any law applicable to the Company or its representatives.  

18 

        5.4.    Further
Actions; Filings.  

                   (a)    Upon
the terms and subject to the conditions hereof, each of the parties hereto shall use its
commercially reasonable efforts to (i) take, or cause to be taken, all appropriate action
and do, or cause to be done, all things reasonably necessary, proper or advisable under
applicable law or otherwise to consummate and make effective the transactions
contemplated by this Agreement, including without limitation the execution and delivery
of any documents, certificates, agreements and other writings and the taking of such
other actions as may be reasonably necessary or desirable (but which shall not cause the
Company to incur any material expense) in order to vest in Buyer good title to the
Purchased Assets, free and clear of all Liens, other than Permitted Liens, (ii) obtain
from Governmental Entities any consents, licenses, permits, waivers, approvals,
authorizations or orders required to be obtained or made by Buyer or the Company or any
of their subsidiaries in connection with the authorization, execution and delivery of
this Agreement and the consummation of the transactions contemplated by this Agreement
and (iii) respond to all inquiries and investigations, make all necessary filings, and
thereafter make any other submissions, with respect to this Agreement, the transactions
contemplated by this Agreement that are required under (A) applicable federal and
state securities laws, (B) the HSR Act and foreign antitrust regulations, if any,
applicable to the transactions contemplated by this Agreement and (C) any other
applicable law. The parties hereto shall cooperate with each other in connection with the
making of all such filings.  

                   (b)    Each
party shall promptly notify the other party in writing of any pending or, to the
knowledge of such party, threatened inquiry, action, proceeding or investigation by any
Governmental Entity or any other Person, whether arising prior to or after the Closing,
(i) challenging or seeking damages in connection with this Agreement or the transactions
contemplated hereunder or (ii) seeking to restrain or prohibit or set aside the
consummation of the transactions contemplated by this Agreement or otherwise limit the
right of Buyer or its subsidiaries to own or operate all or any portion of the Purchased
Assets of the Company. If a suit or other action is threatened or instituted by any
Governmental Entity or other entity challenging the validity or legality, or seeking to
enjoin or set aside the consummation of the transactions contemplated by this Agreement,
the parties shall use commercially reasonable efforts to defend such suit or action, and
shall pay their own costs incurred in connection with doing so.  

                   (c)    Notwithstanding
anything to the contrary in this Agreement, including, without limitation, the
indemnification provisions contained in Article VIII, each party shall be
responsible for the costs it and its officers, directors, employees, agents, advisors,
representatives and Affiliates incur in connection with complying with the provisions of
this Section 5.4 in connection with any such inquiry, action, proceeding or
investigation initiated under any applicable antitrust law, rule or regulation.  

19 

        5.5.    Employees;
Employment and Benefit Arrangements.  

                   (a)    Section 5.5 of
the Company Disclosure Schedule sets forth the current, active employees of the Company
whose employment primarily relates to the Juice Division, including, without limitation,
all full-time employees whose employment primarily relates to the Juice Division and any
inactive employees previously employed whose employment primarily related to the Juice
Division who have a right of reemployment by the Company under applicable law
(collectively, the “Business Employees”). Nothing contained in this
Agreement shall confer upon any Business Employee or any other employee or former
employee of the Company any right to employment with Buyer or its Affiliates.  

                   (b)    Except
as set forth in Section 5.5(c), below, the Company shall be responsible for all
obligations due and Liabilities associated with the Business Employees of the Company in
connection with their employment prior to, on or after the Closing Date (except to the
extent such Liabilities arise from the hiring of such Business Employees by Buyer on or
after the termination of their employment with the Company) or in connection with their
termination from employment with the Company prior to, on or after the Closing Date,
including, without limitation, any Liabilities in connection with bonuses, vacations,
employment arrangements, termination or severance as set forth in Section 3.14.
Except as otherwise provided in this Section 5.5, the Buyer shall be responsible
for all obligations and Liabilities that arise following the Closing Date in connection
with its employment of any employees of the Juice Division, it being understood that the
employees providing services under the Transition Agreement shall not be deemed employees
of Buyer.  

                   (c)    In
respect of notices and payments relating to the Business Employees, the Company shall be
responsible for and assume all Liabilities for (and shall indemnify and hold Buyer
harmless from and against) any and all notices, payments, fines or assessments due to any
Governmental Entity or Business Employee, and all legal and other costs and expenses
related thereto, pursuant to any applicable federal, state, local or foreign law, common
law, statute, rule, regulation or ordinance with respect to the employment, discharge or
layoff of Business Employees by the Company prior to, on or after the Closing Date,
including, but not limited to the Worker Adjustment and Retraining Notification Act, the
Wisconsin Business Closing Law, and any rules or regulations as have been issued in
connection with the foregoing (jointly referred to throughout this Agreement as the “WARN
Act”). The Company further agrees to defend, indemnify and hold Buyer harmless
from and against any and all Liabilities incurred by Buyer with respect to the Company’s
failure to comply with its WARN Act obligations in respect of the Business Employees or
with respect to the Company’s failure to comply with its obligations under Section
5.5(b) above (except to the extent such Liabilities arise from the hiring of such
Business Employees by Buyer on or after the termination of their employment with the
Company). The indemnity in this Section 5.5(c) is to be provided without giving effect to
the limitations set forth in Section 8.3(c) below. In respect of notices and payments
relating to events occurring after the Effective Time, each party shall be responsible
for, and shall indemnify and hold harmless the other against, any WARN Act obligations or
Liabilities arising with respect to employees actually employed by such party after the
Closing, it being understood that the employees providing services under the Transition
Agreement shall not be deemed employees of Buyer, unless such employees are hired
independently by Buyer.  

20 

        5.6.    Funding.   Buyer
agrees that it has and will have at Closing and upon the Settlement Date,           cash
sufficient to enable it to timely and fully perform all of its obligations
          hereunder, including without limitation the payment of the Base Consideration,
          the Preliminary Adjustment and any Final Adjustment payable to the Company.  

        5.7.    Assignment
of Purchased Contracts. To the extent that any Purchased Contract for which
assignment to Buyer as provided herein is not permitted without the consent of another
party or the confidentiality provisions of which prohibit the Company’s disclosure
of the contract or its terms, this Agreement shall not constitute an assignment or an
attempted assignment thereof if such assignment, attempted assignment or disclosure would
constitute a breach thereof. The Company and Buyer agree to use commercially reasonable
efforts (provided that such efforts shall not require additional cost or expense (other
than incidental costs or expenses)) to obtain the consent of such other party to the
assignment or disclosure of any such Purchased Contract to Buyer in all cases in which
such consent is or may be required for such assignment or disclosure. Until such consent
is obtained or if it is not obtained, the Company shall cooperate with Buyer in any
reasonable arrangement (such as by agency or sublicense) designed to provide Buyer with
the economic benefits under such relevant contract; provided that to the extent that
Buyer requires the Company to undertake any services or take any action in furtherance of
the performance of such Purchased Contract, any such services or actions shall be the
subject of a separate agreement that the parties shall, in good faith, negotiate as
promptly as possible and that shall be mutually acceptable to the parties. The Purchase
Price hereunder shall not be reduced by reason of the inability to transfer (by
assignment, subcontract or otherwise) to Buyer any such Purchased Contract on or after
the Closing Date. Each party shall be responsible for all of its internal costs and
expenses incurred by it in connection with the actions required by it under this
subsection.  

        5.8.    Transition
Period. The Company will for a period of six (6) months after the Closing Date use
commercially reasonable efforts to maintain all systems, records and software programs
relating to the Juice Division, provide Buyer reasonable access thereto, and, to the
extent reasonable practicable and so as not to violate any confidentiality or other
obligations of the Company, shall transition all such records to Buyer within 6 months
after the Closing Date (provided that no such actions shall not cause the Company to
incur any expense).  

        5.9.    Corporate
Name. Buyer hereby grants to Company a fully paid, exclusive, royalty free right and
license to use the Corporate Name in connection with its continuing business operations
for a period of two (2) years following the Closing; provided, however, that the Company
covenants and agrees that during such period it shall not use the Corporate Name in
connection with any business competitive with the retail sale or marketing of juice,
juice drinks or cranberry related products, and provided, further, that Company agrees
that it shall promptly change its corporate name at the expiration of such two (2) year
term. In using the name, Northland will adhere to the same quality standards as it did
prior to the Closing Date. Any goodwill associated with the use of the name shall inure
to the benefit of Buyer.  

21 

ARTICLE VI
[INTENTIONALLY LEFT
BLANK]  

ARTICLE VII
DEFINED TERMS  

        The
following capitalized terms when used herein shall have the meaning indicated below.
Definitions of certain other capitalized terms are set forth elsewhere in this Agreement.  

        “Affiliate”shall
mean, with respect to a particular Person, Persons controlling, controlled by, or under
common control with that Person.  

        “Applicable
Rate” shall mean the prime rate of interest reported from time to time in The
Wall Street Journal. 

        “Brands”shall
mean those brands associated with the Company Trade Rights set forth in Schedule
1.1(a)(ii) hereto, together with those associated with the assignable Trade Rights
under the Seneca License Agreement assigned to Buyer.  

        “Company
Benefit Plan” means any “employee benefit plan” (as such term is
defined in Section 3(3) of ERISA) and any other material employee benefit plan,
program or arrangement of any kind that is maintained, sponsored or contributed to by the
Company and with respect to which the Company has any Liability or potential Liability
with respect to any Business Employees.  

        “Company’s
knowledge” or “knowledge of the Company” or words of similar
import shall mean, with respect to any matter in question, the actual knowledge of John
Swendrowski, Ricke Kress and Nigel Cooper.  

        “ERISA”means
the Employee Retirement Income Security Act of 1974, as amended.  

        “GAAP”means
United States generally accepted accounting principles as in effect from time to time,
consistently applied.  

        “Governmental
Entity” shall mean any government or subdivision thereof, domestic, foreign or
supranational or any administrative, governmental or regulatory authority, agency,
commission, tribunal or body, domestic, foreign or supranational.  

        “HSR
Act” shall mean the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as
amended.  

        “Juice
Division” shall mean the Company’s business of producing, packaging,
marketing, distributing and selling fruit juices, juice blends, juice concentrates
packaged for retail sale, dried cranberries and chocolate-coated cranberries under the
Brands (but excluding the Company’s business of producing, packaging, marketing,
distributing and selling fresh and frozen cranberries, fresh fruit, cranberry sauce and
cranberry juice concentrate).  

22 

        “Liability”means
any direct or indirect indebtedness, guaranty, endorsement, claim, loss, damage,
deficiency, cost, expense, obligation or responsibility, fixed or unfixed, known or
unknown, asserted or unasserted, due or undue, liquidated or unliquidated, secured or
unsecured.  

        “Lien”or
“Liens” means any lien, security interest, pledge, charge, claim,
mortgage, easement, restriction or any other encumbrance.  

        “Losses”means
all actions, suits, proceedings, hearings, investigations, charges, complaints, claims,
demands, injunctions, judgments, orders, decrees, rulings, damages, dues, penalties,
fines, costs, amounts paid in settlement, liabilities, obligations, losses, out-of-pocket
expenses, and fees, including court costs and reasonable attorneys’fees and
expenses.  

        “Material
Adverse Effect” shall mean, with respect to any Person, any effect that
individually or taken together with other effects is materially adverse to: (i) the
financial condition, or business of such Person and its subsidiaries, taken as a whole (provided,
however, that, with respect to the representations and warranties made by the
Company, a Material Adverse Effect shall mean any effect that individually or taken
together with other effects is materially adverse to the financial condition of the
Purchased Assets or to the Juice Division) or (ii) the ability of such Person to
consummate the transactions contemplated by this Agreement; provided, however,
in no event shall any of the following be deemed to constitute, nor shall any of the
following be taken into account in determining whether there has been or will be, a
Material Adverse Effect with respect to the Company: (a) events, changes, conditions
or effects disclosed in the exhibits, addenda and schedules hereto, including without
limitation the Company Disclosure Schedule; (b) events, changes, conditions or
effects consented to by Buyer in writing; (c) events, changes, conditions or effects
attributable to the acts or omissions of, or on behalf of, Buyer; (d) any change on
or after the Closing Date in any law effecting the Purchased Assets, the Assumed
Liabilities, the Juice Division, the Company or any of the Company’s Subsidiaries or
any interpretation thereof; (e) changes in the market price or trading volume of
Company’s Common Stock; (f) changes in the Company not related to the financial
condition or business of the Juice Division; (g) changes or developments in the
consumer food and beverage products industry in general; (h) changes or developments
in the supply or availability of raw materials or packaging material, including without
limitation labels, bottles and other bottling and packaging materials, used in the Juice
Division (i) changes or developments in financial or securities markets or the
economy in general; (j) national or international political or social events, changes,
conditions or effects, including without limitation those attributable to acts of war,
terrorism or other conflicts; or (k) the announcement or public disclosure of the
transactions contemplated by this Agreement.  

        “Permitted
Liens” shall mean: (i) Liens for Taxes not yet due and payable; (ii) Liens
associated with the Purchased Assets arising after the Closing Date.  

        “Person”shall
mean an individual, corporation, partnership, joint venture, trust or unincorporated
organization or association or other form of business enterprise or a Governmental
Entity.  

        “Subsidiary”shall
mean any corporation, partnership, limited liability company, association or other
business entity of which: (i) if a corporation, a majority of the total voting power
of shares of stock entitled (irrespective of whether, at the time, stock of any other
class or classes of such corporation shall have or might have voting power by reason of
the happening of any contingency) to vote in the election of directors, managers or
trustees thereof is at the time owned or controlled, directly or indirectly, by that
Person or one or more of the other Subsidiaries of that Person or a combination thereof,
or (ii) if a partnership, limited liability company, association or other business
entity, either (A) a majority of the partnership or other similar ownership interest
thereof is at the time owned or controlled, directly or indirectly, by that Person or one
or more Subsidiaries of that Person or a combination thereof, or (B) such Person is
a general partner, managing member or managing director of such partnership, limited
liability company, association or other entity.  

23 

        “Taxes”shall
mean all net income, capital gains, gross income, gross receipts, sales, use, transfer,
ad valorem, franchise, profits, license, capital, withholding, payroll, employment,
excise, goods and services, severance, stamp, occupation, premium, documentary,
intangibles, property, assessments, or other governmental charges of any kind whatsoever,
together with any interest, fines and any penalties, additions to tax or other additional
amounts incurred, accrued with respect thereto, assessed, charged or imposed under
applicable federal, state, local or foreign tax. References to the Company or any
Subsidiary shall be deemed to include any predecessor to such Person from which the
Company or such Subsidiary incurs a liability for Taxes as a result of transferee
liability.  

        “Tax
Returns” means any return, report, information return or other document
(including schedules or any related or supporting information) filed or required to be
filed with any Governmental Entity or other authority in connection with the
determination, assessment or collection of any Tax or the administration of any laws,
regulations or administrative requirements relating to any Tax.  

        Each
capitalized term listed below is defined in the corresponding Section listed below.  

		
	Term  	Section No.  
	
Accounts Receivable	1.1(a)(iii)
	Agreement	Preamble
	Assignment and Assumption Agreement	2.5(a)(ii)
	Assumed Coupon Liabilities	1.2
	Assumed Liabilities	1.2
	Base Consideration	2.1(a)
	Business Employees	5.5(a)
	Buyer	Preamble
	Buyer Indemnified Party	8.1
	Closing	2.3
	Closing Date	2.3
	Company	Preamble
	Company Disclosure Schedule	Article III
	Company Indemnified Party	8.2
	Confidential Information	9.1
	Confidentiality Agreement	5.1

24 

		
	Term  	Section No.  
	
Corporate Name	1.1(b)
	Effective Time	2.2(d)(ii)
	Environmental Law	3.15
	Environmental Permits	3.15
	Excluded Assets	1.1(b)
	Excluded Liabilities	1.2
	Final Adjustment	2.2(b)
	Final Closing Balance Sheet	2.2(d)(iv)
	Hazardous Substances	3.15
	Independent Accounting Firm	2.2(d)(iv)
	Juice Division Trade Rights	1.1(a)(ii)
	Permitted Recipients	9.3
	Preliminary Adjustment	2.2(a)
	Preliminary Balance Sheet	2.2(d)
	Purchase Price	2.1(a)
	Purchased Assets	1.1(a)
	Purchased Contracts	1.1(a)(iii)
	Record Retention Period	5.3
	Seneca License Agreement	1.1(a)(ii)
	Settlement Date	2.2(b)
	Trade Accounts Payable	2.2(c)(iii)
	Trade Accounts Receivable	2.2(c)(i)
	Trade Rights	1.1(a)(ii)
	WARN Act	5.5(c)
	WARN Act	5.5(c)
	Working Capital	2.2(c)

ARTICLE VIII
INDEMNIFICATION  

        8.1.    Company’s
Indemnity. The Company covenants and agrees to defend, indemnify and hold harmless
Buyer, its officers, directors, employees, agents, advisers, representatives and
Affiliates (each, a “Buyer Indemnified Party”) from and against, and pay
or reimburse each Buyer Indemnified Party for, any and all Losses actually sustained as a
result of:  

                   (a)    any
failure by the Company to carry out, perform, satisfy and discharge any of its covenants
or agreements set forth in this Agreement;  

                   (b)    the
Excluded Liabilities; and  

                   (c)    any
breach of the Company’s representations and warranties contained in Section 3.2 (Authority),
Section 3.3 (No Violation; Consents), Section 3.4 (Title to Purchased Assets),
Section 3.6 (Legal Compliance; Permits), Section 3.7 (Trade Rights),
Section 3.8 (Tax Matters), Section 3.9 (Contracts), Section 3.13 (Litigation),
Section 3.17 (Insurance), Section 3.18 (Financial Information) and Section
3.19 (Undisclosed Liabilities). 

25 

        8.2.    Buyer’s
Indemnity. Buyer covenants and agrees to defend, indemnify and hold harmless Company,
its officers, directors, employees, agents, advisers, representatives and Affiliates
(each, a “Company Indemnified Party”) from and against, and pay or
reimburse each Company Indemnified Party for, any and all Losses actually sustained as a
result of:  

                   (a)    any
failure by Buyer to carry out, perform, satisfy and discharge any of its covenants or
agreements set forth in this Agreement;  

                   (b)    the
ownership of the Purchased Assets after the Closing, subject to the agreement of the
parties contained in Section 5.4(c) of this Agreement; and  

                   (c)    the
Assumed Liabilities.  

        8.3.    Provisions
Regarding Indemnities.  

                   (a)    Notice;
Third Party Claims. The indemnified party shall promptly notify the indemnifying
party in reasonable detail of any claim, demand, action or proceeding for which
indemnification will be sought under Section 8.1 or Section 8.2 hereof,
and if such claim, demand, action or proceeding is a third party claim, demand, action or
proceeding, the indemnifying party will have the right at its expense to assume and
control the defense thereof using counsel reasonably acceptable to the indemnified party;
provided, that, the indemnifying party shall continue to be entitled to
assert any limitation on any claims contained herein. Should an indemnifying party so
elect to assume the defense of a third party claim, the indemnifying party shall not be
liable to the indemnified party for legal expenses subsequently incurred by the
indemnified party in connection with the defense thereof. If the indemnifying party
assumes such defense, the indemnified party shall have the right to participate in the
defense thereof and to employ counsel, at its own expense, separate from the counsel
employed by the indemnifying party, it being understood, however, that the indemnifying
party shall control such defense. In connection with any such third party claim, demand,
action or proceeding, the parties shall cooperate with each other and provide each other
with reasonable access to relevant books and records in their possession. The
indemnifying party shall obtain the prior written consent of the indemnified party (which
consent shall not be unreasonably withheld, conditioned or delayed) before entering into
any settlement of a claim or ceasing to defend such claim if, pursuant to or as a result
of such settlement or cessation, injunctive or other equitable relief will be imposed
against the indemnified party or if such settlement does not expressly and
unconditionally release the indemnified party from all liabilities and obligations with
respect to such claim, without prejudice except for payments that would be required to be
paid by indemnified party hereunder.  

                   (b)    Time
Limitation. Any claim or action brought under this Article VIII for
breach of a representation or warranty referenced in Section 8.1(c) above, or for breach
of the Company’s indemnity obligations under Section 5.5(c) above with respect to
the WARN Act, must be brought no later than August 31, 2005. Any claim or action brought
under this Article VIII for a breach of a covenant contained herein must be
brought no later than August 31, 2005 or, in the case of the covenants contained in Section
5.3, Section 5.9 and Section 9.1, no later than the expiration of the
covenants contained therein. Except for the representations and warranties of the Company
described in Section 8.1(c) above, all other representations and warranties contained
herein shall expire on the Closing Date. The expiration of rights set forth in this Section
8.3(b) shall not affect an indemnified party’s right to prosecute to conclusion
any claim made by such indemnified party in accordance with Article VIII hereof
prior to the time that the relevant right of indemnity terminates or expires.  

26 

                   (c)    Amount
Limitation.  

                             (i)    No
indemnified party hereunder shall be entitled to receive any indemnification payments
under this Article VIII until the aggregate amount of Losses incurred by the
indemnified party exceed $250,000 in the aggregate. If this limit is reached, all Losses
from the first dollar of Losses shall be recoverable.  

                             (ii)    The
maximum aggregate amount of indemnification payments under Section 8.1(a), 8.1(b) and
8.1(c) (as such, in the case of payments under Section 8.1(c), relates to breaches of the
representations or warranties contained in clauses (ii) and (iii) of Section 3.3 (No
Violation; Consents), Section 3.4(b) (Title to Purchased Assets), Section 3.6 (Legal
Compliance; Permits), the second, third, fifth and sixth sentences of Section 3.7 (Trade
Rights), Section 3.9 (Contracts), Section 3.13 (Litigation), Section
3.17 (Insurance), Section 3.18 (Financial Information) and Section 3.19 (Undisclosed
Liabilities)) which Buyer shall be entitled to receive, upon the triggering of any
indemnification obligation hereunder, shall not in the aggregate exceed $450,000.  

                             (iii)    The
maximum aggregate amount of indemnification payments under Section 8.1(c), as such
relates to breaches of the representations or warranties contained in Section 3.2 (Authority),
clause (i) of Section 3.3 (No Violation; Consents), Section 3.4(a) (Title to
Purchased Assets), the first and fourth sentences of Section 3.7 (Trade Rights)
and Section 3.8 (Tax Matters)), which Buyer shall be entitled to receive, upon the
triggering of any indemnification obligation hereunder, shall not in the aggregate exceed
the Purchase Price.  

27 

                   (d)    Exclusive
Remedy.  

                             (i)    Buyer
acknowledges and agrees that, from and after the Closing, its sole and exclusive remedy
against the Company with respect to any and all claims (other than proven claims for
actual fraud committed by the Company) relating (directly or indirectly) to this
Agreement or the transactions contemplated hereby shall be pursuant to the provisions set
forth in this Article VIII. Buyer may not avoid the limitations on liability
of the Company set forth herein by seeking damages for breach of contract, tort or
pursuant to any other theory of liability. Notwithstanding anything contained to the
contrary in this Agreement, Buyer shall not be entitled to indemnification pursuant to
this Article VIIIwith respect to Losses or alleged Losses that are a result
of, or based upon or arising from, any claim or liability to the extent such claim or
liability is taken into account in determining whether or not there will be an adjustment
to the Purchase Price pursuant to Section 2.2 hereof.  

                             (ii)    The
Company acknowledges and agrees that, from and after the Closing, its sole and exclusive
remedy against Buyer with respect to any and all claims (other than proven claims for
actual fraud by Buyer) relating (directly or indirectly) to this Agreement or the
transactions contemplated hereby shall be pursuant to the provisions set forth in this Article VIII.
The Company may not avoid the limitations on liability of the Company Indemnified Parties
set forth herein by seeking damages for breach of contract, tort or pursuant to any other
theory of liability. Notwithstanding anything contained to the contrary in this
Agreement, the Company shall not be entitled to indemnification pursuant to this Article VIII with
respect to Losses or alleged Losses that are a result of, or based upon or arising from,
any claim or liability to the extent such claim or liability is taken into account in
determining whether or not there will be an adjustment to the Purchase Price pursuant to
Section 2.2 hereof.  

                   (e)    Lost
Profits. In no event shall any indemnified parties be entitled to recover or make a
claim for any amounts in respect of loss of business, lost profits, multiples of profits,
multiples of earnings, multiples of cash flow, goodwill, business reputation,
consequential damages or punitive damages in calculating the amount of any Losses.  

ARTICLE IX
CONFIDENTIALITY  

        9.1.    Definition
of Confidential Information. The parties acknowledge that at or following the
Closing, information will have been provided to, or will have come to the attention of,
each party and its employees, agents, and representatives regarding the other party,
which information is of value to the disclosing party and is not generally available to
the public. This information may include but is not limited to the formulations,
specifications, product development histories, test results, ideas, marketing concepts,
designs, drawings, techniques, personnel, technical and financial data, models, flow
charts, procedures, now-how, methods, inventions and forecasts (hereinafter collectively
referred to as “Confidential Information”). The parties further
acknowledge that Confidential Information which primarily relates to the Purchased Assets
or the business conducted by the Company with the Purchased Assets prior to the Closing
shall be considered Confidential Information of the Buyer following the Closing. However,
Confidential Information does not include any information which: (i) was or becomes
generally available to the public other than as a result of an unauthorized disclosure by
the receiving party, or (ii) comes into the possession of the receiving party after
the date of the Closing on a nonconfidential basis from a source other than the
disclosing party or its agent, providedthat, insofar as is reasonably known
to the receiving party, the disclosure by such source does not violate any
confidentiality agreement between such source and the disclosing party.  

28 

        9.2.    Use
of Confidential Information. The receiving party shall use the disclosing party’s
Confidential Information only for the purpose of performing its obligations under this
Agreement or as contemplated in this Agreement or any agreements entered into pursuant to
this Agreement, and for no other purpose; provided, however, that the foregoing
shall not prevent the Company or any successor in interest of the Company from using,
without payment of any additional consideration to Buyer, that portion of Buyer’s
Confidential Information that relates to the Purchased Assets or the business conducted
by the Company with the Purchased Assets prior to the Closing to the extent necessary to
carry out its business following the Closing and provided, further, that Buyer
shall make available to the Company such records for use for the purposes of operating
the Company’s continuing businesses; corporate administration, record keeping and
preparation of reports required by insurers and taxing, regulatory and other governmental
authorities; and enforcement, defense, dispute resolution and other matters concerning
accounts receivable, liabilities, claims and other matters which are, or are related to,
assets other than the Purchased Assets, Assumed Liabilities, liabilities, contracts and
rights and obligations not acquired or assumed by Buyer.  

        9.3.    Confidentiality.              The
receiving party agrees to keep the disclosing party’s Confidential
          Information confidential and shall not, without the prior written consent of
the           disclosing party, disclose such Confidential Information to any third
party, in           whole or in part, other than for the purposes of performing its
obligations           under this Agreement or any agreements entered into pursuant to
this Agreement           and provided such third party has duly executed a
confidentiality agreement           pursuant to which such third party has agreed to
maintain in confidence and no           use or disclose such Confidential Information
other than for such purposes. The           receiving party likewise shall not disclose
such Confidential Information to any           Affiliate except those who have an actual
need to know such Confidential           Information for the purpose of performing the
receiving party’s obligations           under this Agreement or any agreements
entered into pursuant to this Agreement           who are informed by the receiving party
of the confidential nature of such           Confidential Information and who agree to be
bound by this Agreement           (“Permitted Recipients”). The
receiving party shall be           responsible for any breach of any provision of this
Agreement by its Permitted           Recipients.  

        9.4.    Legal
Requirement to Disclose. In the event that the receiving party becomes legally
compelled to disclose any of the disclosing party’s Confidential Information, the
receiving party shall provide the disclosing party with prompt notice, if lawful, so that
the disclosing party may seek a protective order or other appropriate remedy and/or waive
compliance with the provisions of this Agreement. In the event such protective order or
other remedy is not obtained, or the disclosing party waives compliance with the
provisions of this Agreement, the receiving party shall furnish only that portion of the
disclosing party’s Confidential Information which the receiving party is advised by
its counsel is legally required to be furnished, and the receiving party shall use its
best efforts to obtain assurances that such Confidential Information shall be treated
confidentially by the recipient thereof.  

29 

ARTICLE X
GENERAL PROVISIONS  

        10.1.    Notices.              All
notices, demands, consents, or other communications that are required or
          permitted hereunder or that are given with respect to this Agreement shall be
in           writing and shall be sufficient if personally delivered or sent by
registered or           certified mail, facsimile message, or Federal Express or other
nationally           recognized overnight delivery service. Any notice shall be deemed
given upon the           earlier of the date when received at, or the fifth day after the
date when sent           by registered or certified mail or the day after the date when
sent by Federal           Express or facsimile to, the address or facsimile number set
forth below, unless           such address or facsimile number is changed by written
notice to the other           parties in accordance with this Agreement:  

	 	(a) 	if
to Buyer, to: 

	 	
Apple
& Eve, LLC
2 Sea View Boulevard
Port Washington, NY
11050-4634
Attn:  Gordon Crane, Chief Executive Officer
Facsimile:  (516) 625-9474 

	 	
with
copies to: 

	 	
Moses
& Singer LLP
1301 Avenue of the Americas
New York,
New York  10019
Attn:  James Alterbaum, Esq.
Facsimile:  (212) 554-7700 

	 	(b) 	if
to the Company, to: 

	 	
Northland
Cranberries, Inc.
2321 West Grand Avenue
Wisconsin
Rapids, WI  54495-8020
Attn:  John Swendrowski, Chief Executive Officer
Facsimile:  (715) 422-6844 

	 	
with
copies to: 

	 	
Foley
& Lardner LLP
777 East Wisconsin Avenue
Milwaukee, WI
53202
Attn:  Steven R. Barth, Esq.
Facsimile:  (414)
297-4900 

30 

        10.2
    Interpretation. When a reference is made in this Agreement
to exhibits or schedules, such reference shall be to an exhibit or schedule to this
Agreement unless otherwise indicated. The words “include,” “includes” and
“including” when used herein shall be deemed in each case to be followed by the
words “without limitation.” The phrase “made available” in this
Agreement shall mean that the information referred to has been made available if
requested by the party to whom such information is to be made available. The table of
contents and headings contained in this Agreement are for reference purposes only and
shall not affect in any way the meaning or interpretation of this Agreement.  

        10.3
    Counterparts. This Agreement may be executed in one or
more counterparts, all of which shall be considered one and the same agreement and shall
become effective when one or more counterparts have been signed by each of the parties
and delivered to the other parties, it being understood that all parties need not sign
the same counterpart. Any counterpart may be executed and delivered by facsimile
signature and such facsimile signature shall be deemed an original.  

        10.4
    Entire Agreement; Nonassignability; Parties in Interest.
This Agreement, together with the exhibits and the schedules attached hereto, including
the Company Disclosure Schedule: (a) constitute the entire agreement among the parties
with respect to the subject matter hereof and supersede all prior agreements and
understandings, both written and oral, among the parties with respect to the subject
matter hereof which shall continue in full force and effect, and shall survive any
termination of this Agreement or the Closing, in accordance with its terms; (b) are not
intended to confer upon any other Person any rights or remedies hereunder; and (c) shall
not be assigned by operation of law or otherwise except as otherwise specifically
provided.  

        10.5
    Expenses. All costs and expenses incurred in connection
with this Agreement and the transactions contemplated hereby (including, without
limitation, the fees and expenses of its advisers, accountants and legal counsel), shall
be paid by the party incurring such expense.  

        10.6
    Tax Matters.  All transfer, documentary, sales,
use, stamp, registration and other such Taxes, and all conveyance fees, recording charges
and other fees and charges (including any penalties and interest) incurred in connection
with the consummation of the transactions contemplated by this Agreement shall be borne
by Buyer and shall be paid when due. The parties will file all necessary Tax Returns and
other documentation with respect to all such Taxes, fees and charges, and, if required by
applicable law, the parties will, and will cause their Affiliates to, join in the
execution of any such Tax Returns and other documentation.  

        10.7
    Amendment. Any provision of this Agreement may be amended
only by the written consent of the Company and Buyer. Any agreement on the part of a
party to any amendment shall only be valid if set forth in an instrument in writing
signed on behalf of such party.  

31 

        10.8
    Severability. In the event that any provision of this
Agreement, or the application thereof, becomes or is declared by a court of competent
jurisdiction to be illegal, void or unenforceable, the remainder of this Agreement will
continue in full force and effect and the application of such provision to other Persons
or circumstances will be interpreted so as reasonably to effect the intent of the parties
hereto. The parties further agree to replace such void or unenforceable provision of this
Agreement with a valid and enforceable provision that will achieve, to the extent
possible, the economic, business and other purposes of such void or unenforceable
provision.  

        10.9
    Remedies Cumulative. Except as otherwise provided herein,
any and all remedies herein expressly conferred upon a party will be deemed cumulative
with and not exclusive of any other remedy conferred hereby, or by law or equity upon
such party, and the exercise by a party of any one remedy will not preclude the exercise
of any other remedy.  

        10.10
    Governing Law; Waiver of Jury Trial. This Agreement shall
be governed by and construed in accordance with the laws of the State of New York, other
than those which would give effect to the substantive laws of another jurisdiction. EACH
OF THE PARTIES HERETO IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY SUIT, ACTION
OR OTHER PROCEEDING INSTITUTED BY OR AGAINST SUCH PARTY IN RESPECT OF ITS, HIS OR HER
OBLIGATIONS HEREUNDER OR THE TRANSACTIONS CONTEMPLATED HEREBY.  

        10.11
    Rules of Construction. The parties hereto agree that they
have been represented by counsel during the negotiation, preparation and execution of
this Agreement and, therefore, waive the application of any law, regulation, holding or
rule of construction providing that ambiguities in an agreement or other document will be
construed against the party drafting such agreement or document.  

        10.12
    No Right of Offset. Neither party shall have the right to
offset any amount owed to such party against any amount it owes pursuant to this
Agreement or the transactions contemplated hereby.  

        10.13
    Further Assurances. Each of the parties to the Agreement
shall use commercially reasonable efforts to effect the transactions contemplated hereby.
Each party hereto, from and after the Closing, and at the reasonable request of another
party hereto, shall execute and deliver such other instruments, including without
limitation, stockholder consent to the transactions contemplated by this Agreement, and
do and perform such other acts and things, as may be necessary or desirable for effecting
completely the consummation of this Agreement and the transactions contemplated hereby.  

        10.14
    Deliveries to Buyer. Buyer agrees and acknowledges that
all documents or other items delivered to Buyer’s representatives (including,
without limitation, Moses & Singer LLP and Buyer’s accountants) shall be deemed
to be delivered to Buyer for all purposes hereunder.  

        10.15
    No Third Party Beneficiaries. Except as expressly provided
hrein, this Agreement shall not confer any rights or remedies upon any Person other than
the parties hereto and their respective successors and permitted assigns, personal
representatives, heirs and estates, as the case may be.  

[Signature Page
Follows] 

32 

        IN
WITNESS WHEREOF, the parties hereto have caused this Asset Purchase Agreement to be
executed and delivered by their respective duly authorized officers as of the date first
written above. 

	BUYER: 		THE COMPANY: 
	

APPLE & EVE, LLC, a

Delaware limited liability company

  		

NORTHLAND CRANBERRIES, INC.,

a Wisconsin corporation

  
	By:   	/s/ Jonathan Alpert 
		By:   	/s/ John Swendrowski 

		Jonathan Alpert
			John Swendrowski

	Title   	Chief Financial Officer  
		Title   	Chairman and Chief Executive Officer  

	SOLELY WITH RESPECT TO THE 
ASSIGNMENT OF
OF THE NCI MARKS: 		  
	

NCI FOODS, LLC, a Wisconsin

limited liability company

  		

  
	By:   	/s/ John Swendrowski 
			
		John Swendrowski
			

	Title   	President  
			

[Signature Page to
Asset Purchase Agreement]

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