Exhibit 10.2
 
NF Roasters Corp.
c/o Berjaya Corporation Berhad
Lot 1.35 C&D, 1st Floor
Podium Block, Plaza Berjaya
No. 12 Jalan Imbi, 55100 Kuala Lumpur
West Malaysia

As of April 23, 2008

Nathan’s Famous Systems, Inc.
1400 Old Country Road, Suite 400
Westbury, New York 11590

Re:    KRR Co-Brand License Agreement

Gentlemen:

Reference is made to the Stock Purchase Agreement dated April 23, 2008 by and
among Nathan’s Famous, Inc. (“Seller”), Roasters Asia Pacific (Cayman) Limited
(“Purchaser”) and NF Roasters Corp. (“Company”) (the “Stock Purchase
Agreement”). Except as otherwise expressly provided, all capitalized terms used
herein shall have the meanings ascribed to them in the Stock Purchase Agreement.

In accordance with Section 4.4 of the Stock Purchase Agreement, the Parties have
agreed that, simultaneously with the execution of the Stock Purchase Agreement,
Purchaser on the one hand and Seller or an affiliate of Seller on the other hand
shall enter into a separate agreement (the “KRR Co-Brand License Agreement”) to
appoint NFSI (as defined below) as Company’s agent to enforce the terms and
conditions of the Sub-License Agreement (as defined below), including the
quality control requirements specified thereunder, and to appoint NFSI as a
licensee with the right to grant sub-licenses in respect of the Intellectual
Property Rights. The Parties acknowledge and agree that the Seller would not
execute, deliver and perform the Stock Purchase Agreement without the
simultaneous execution and delivery of this Agreement.

When executed by Company and Nathan’s Famous Systems, Inc. (“NFSI”), an
affiliate of Seller, the following terms shall constitute the KRR Co-Brand
License Agreement (as described in Section 4.4 of the Stock Purchase Agreement).
Consequently, the Company and NFSI hereby agree as follows:

1.
Company hereby irrevocably assigns to NFSI, for so long as the license granted
hereunder shall remain in effect, all of Company’s right, title and interest in
and to the Sub-License Agreements to which the Company is a party; excluding
however, any right, title and interest of the Company as set forth in Sections
4, 6 and 10(d) thereof.

2.
Company hereby grants a license to NFSI all of the Intellectual Property Rights
which are necessary for NFSI to operate and/or authorize the operation of the
KRR Co-Branded Locations pursuant to the terms set forth herein. The Company
agrees to maintain and enforce all Intellectual Property Rights licensed to NFSI
pursuant to this Agreement, and to keep all such rights in full force and
effect, as Company deems necessary in Company’s sole and absolute discretion in
order to permit the operation of the KRR Co-Branded Locations as presently
operated.

 

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3.
NFSI shall be permitted to use or sublicense the use of the Intellectual
Property Rights in connection with the operation and/or authorization of the
operation only of the KRR Co-Branded Locations as listed on Exhibit A hereto
pursuant to the terms and conditions of the license agreements between NFSI and
the operators of such co-branded locations (“Sub-License Agreements”) and for no
other purpose.

4.
NFSI is hereby appointed as Company’s agent with respect to all Sub-License
Agreements and NFSI agrees to enforce all of the terms and conditions of the
Sub-License Agreements, including but not limited to the maintenance of quality
control; provided that in the event of any difference between the provisions of
Section 2 of the Sub-License Agreements and the Existing Standards, the
maintenance of quality control shall de deemed to require that the sub-licensees
maintain the Existing Standards. In this regard, NFSI will conduct periodic
inspections of each location to ensure that the Existing Standards are being met
and will send reports to Company after such inspections are conducted.

5.
NFSI agrees that the KRR Co-Branded Locations will be operated by NFSI and/or
the “Nathan’s Famous” and “Miami Subs” franchisees in compliance with the
Existing Standards, and that the KRR Co-Branded Locations will not be permitted
to make any changes to the Existing Standards without Company’s prior written
consent (which will not be unreasonably withheld or delayed). However, no KRR
Co-Branded Locations shall have any obligation to comply with any changes to the
Existing Standards proposed or suggested by Company.

6.
As between NFSI and Company, NFSI shall be solely responsible for all franchise
support owed to the operators of the KRR Co-Branded Locations, and Company shall
have no liability in connection therewith.

7.
The rights granted to NFSI hereunder shall continue for the term of the
Sub-License Agreements; provided that nothing shall obligate any particular KRR
Co-Branded Location to continue to use the Intellectual Property Rights. If any
such location ceases to use the Intellectual Property Rights, the Sub-License
Agreement for such location shall be deemed immediately terminated and NFSI
shall ensure that the sub-licensee shall terminate its use of the Intellectual
Property Rights.

8.
No franchise fees, royalties, product rebates or any other monies shall be due
from NFSI (or its operators and suppliers) to Company in connection with the
continued operation of the Existing KRR Co-Branded Locations.

 

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9.
The Company, its affiliates, successors and assigns shall have the right to use
or license the Intellectual Property Rights at any location throughout the world
(“Company Location”) irrespective of whether any such Company Location competes
with an Existing KRR Co-Branded Location.

10.
This Agreement shall be governed by, and construed in accordance with, the
internal laws of the State of New York, without reference to the choice of law
or conflicts of law principles thereof. The parties hereto irrevocably submit to
the jurisdiction of the state or Federal courts located in Nassau County,
New York in connection with any suit, action or other proceeding arising out of
or relating to this agreement and the transactions contemplated hereby
(including any claim for injunctive relief), and hereby agree not to assert, by
way of motion, as a defense, or otherwise in any such suit, action or proceeding
that the suit, action or proceeding is brought in an inconvenient forum, that
the venue of the suit, action or proceeding is improper or that this agreement
or the subject matter hereof may not be enforced by such courts.

11.
For the purpose of facilitating the execution of this Agreement and for other
purposes, this Agreement may be executed simultaneously in any number of
counterparts, each of which counterparts shall be deemed to be an original, and
all of which counterparts shall constitute but one and the same instrument.
Delivery of an executed counterpart of a signature page to this Agreement by
facsimile shall be effective as delivery of a manually executed counterpart of
this Agreement.

 

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Sincerely,

NF Roasters Corp.
 
   
   
    By:   /s/Derek Chee Seng Chin  

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Name:  DEREK CHEE SENG CHIN   Title:   DIRECTOR

 

        Roasters Asia Pacific (Cayman) Limited  
   
   
    By:   /s/Francis Lee Kok Chuan  

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Name:  FRANCIS LEE KOK CHUAN   Title:   DIRECTOR

 
Accepted and agree to:

Nathan’s Famous Systems, Inc.

By:       /s/Wayne Norbitz

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Name: WAYNE NORBITZ

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Title:   PRESIDENT & COO

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Nathan’s Famous, Inc.

By:        /s/Eric Gatoff

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Name:  ERIC GATOFF

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Title:    CEO

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Exhibit A
KRR Co-Branded Locations

Host Concept
Location
Nathan’s Famous
Lacey Mall, 244 N. Main Street, Lanoka Harbor, NJ
Nathan’s Famous
Menlo Park Mall, Edison, NJ
Nathan’s Famous
Mall of America, Bloomington, MN
Nathan’s Famous
705 8th Avenue, New York, NY
Nathan’s Famous
1670 Deer Park Ave., Deer Park, NY
Nathan’s Famous
Smith Haven Mall, Middle Country Road, Lake Grove, NY
Nathan’s Famous
South Shore Mall, 1701 Sunrise Highway, Bay Shore, NY
Nathan’s Famous
Hudson Mall, 701 Route 440, Jersey City, NY
Nathan’s Famous
1A Main Street, East Hartford, CT
Nathan’s Famous
121 S. Palm Canyon Drive, Palm Springs, CA
Nathan’s Famous
90-30 Sutphin Blvd., Jamaica, NY
Nathan’s Famous
Seton Hall University, S. Orange Ave., S. Orange, NJ
Nathan’s Famous
3380 Hillside Ave., New Hyde Park, NY
Nathan’s Famous
1291 Broadway, Brooklyn, NY
Nathan’s Famous
1625 Boardwalk, Atlantic City, NJ
Nathan’s Famous
Queens Center, 90-15 Queens Blvd., Elmhurst, NY
Nathan’s Famous
Moorestown Mall, 400 Route 38, Moorestown, NJ
Nathan’s Famous
Willowbrook Mall, 1400 Willowbrook Mall, Wayne, NJ
Nathan’s Famous
Freehold Raceway Mall, 3710 Route 9, Freehold, NJ
Nathan’s Famous
Palms Casino Resort, 4321 W. Flamingo Rd., Las Vegas, NV
Nathan’s Famous
Manhattan Mall, 1275 Broadway, New York, NY
Nathan’s Famous
Sunrise Mall, 1 Sunrise Hwy, Massapequa, NY
Nathan’s Famous
545 William Floyd Parkway, Shirley, NY
Nathan’s Famous
Pembroke Lakes Mall, 11401 Pines Blvd., Pembroke Pines, FL
Nathan’s Famous
Orlando Int’l Airport, Landside, Orlando, FL
Nathan’s Famous
Plattekill Travel Plaza, Interstate 87, Wallkill, NY
Nathan’s Famous
Fort Drum Travel Plaza, Florida Tpke., Okeechobee, FL
Nathan’s Famous
MacArthur Center Mall, 300 Monticello Ave., Norfolk, VA
Nathan’s Famous
Concord Mills Mall, 8111 Concord Mills Blvd., Charlotte, NC
Nathan’s Famous
Leesburg Mall, Leesburg, VA
Nathan’s Famous
Orlando Int’l Airport, Delta Terminal, Orlando, FL
Nathan’s Famous
White Plains Galleria Mall, White Plains, NY
Nathan’s Famous
Paramus Park Mall, Paramus, NJ
Nathan’s Famous
Ocean County Mall, Toms River, NJ
Nathan’s Famous
Westchester Mall, 125 Westchester Ave., White Plains, NY
Nathan’s Famous
Palisades Center, 36-21 Palisades Center Drive, Nyack, New York
Nathan’s Famous
Kings Plaza Mall, 5424 Kings Plaza, Brooklyn, NY
Nathan’s Famous
238-19 Linden Blvd., Elmont, NY
Nathan’s Famous
Westfield North County, 272 E. Via Rancho Pkwy., Escondido, CA
Nathan’s Famous
Philadelphia Outlet Center, 18 Lightcap Rd., Pottstown, PA
Nathan’s Famous
Jackson Outlet Center, Jackson, NJ
Nathan’s Famous
Penn State Univ., HUB-Robeson Center, University Park, PA
Nathan’s Famous
Mall at Steamtown, 300 Lackawanna Ave, Scranton, PA
Nathan’s Famous
Lenox Square Mall, 3393 Peachtree Road, Atlanta, GA
Nathan’s Famous
Trumbull Mall, Trumbull, CT
Nathan’s Famous
Cortland Town Center, 3139 E. Main Street, Mohegan Lake, NY
Nathan’s Famous
1530 Old Country Road, Westbury, NY
Nathan’s Famous
Hartsfield Atlanta Int’l Airport, Concourse B, Gate 27, Atlanta, GA

 

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Nathan’s Famous
Hartsfield Atlanta Int’l Airport, Concourse D, Gate 21, Atlanta, GA
Nathan’s Famous
Hartsfield Atlanta Int’l Airport, Concourse T, Gate 6/7, Atlanta, GA
Nathan’s Famous
Newport Center Mall, Jersey City, NJ
Nathan’s Famous
569 Myrtle Avenue, Brooklyn, NY
Nathan’s Famous
251 East 14th Street, New York, NY
Nathan’s Famous
Jersey Gardens Mall, Elizabeth, NJ
Nathan’s Famous
Brunswick Square Mall, 755 Route 18, East Brunswick, NJ
Nathan’s Famous
Monmouth Mall, Route 36 and 35, Eaton Town, NJ
Nathan’s Famous
Nanuet Mall, 75 West Route 59, Nanuet, NY
Nathan’s Famous
Sawgrass Mall, 12801 W. Sunrise Blvd., Sunrise, FL
Nathan’s Famous
Victoria Gardens Mall, 12434 N. Main Street, Rancho Cucamonga, CA
Nathan’s Famous
Coastland Center Mall, Naples, FL
Nathan’s Famous
Coconut Point Mall, 2311 Fashion Drive, Estero, FL
Nathan’s Famous
166 North 2nd Street, Camden, NJ
Nathan’s Famous
3600 Grand Avenue, Coconut Grove, NJ
Nathan’s Famous
Staten Island Ferry, Whitehall Ferry Building, New York, NY
Nathan’s Famous
Tanger Deer Park Outlets, Deer Park, NY
Nathan’s Famous
105 West Montauk Highway, Hampton Bays, NY
Nathan’s Famous
Meadowlands Xanadu, East Rutherford, NJ
Nathan’s Famous
Miami Int’l Airport, Concourse C, Miami, FL
Nathan’s Famous
1310 Surf Avenue, Coney Island, NY
Nathan’s Famous
650 86th Street, Brooklyn, NY
Nathan’s Famous
2290 Central Park Avenue, Yonkers, NY
Nathan’s Famous
3131 Long Beach Road, Oceanside, NY
Nathan’s Famous
229 Broadhollow Road, Farmingdale, NY
Nathan’s Famous
Aeropuerto Internacional De LaRomana, Casa De Campo, Santo Domingo, Dominican
Republic
Nathan’s Famous
Cibao Bowling, Autopista Duarte KM 3 ½, Entrada el Embrujo 111, Santiago,
Dominican Republic
Nathan’s Famous
Aeropuerto Internacional de Punta Cana, Punta Cana, Dominican Rep.
Nathan’s Famous
Aeropuerto Internacional de Santiago, Santiago, Dominican Rep.
Nathan’s Famous
Colony Center Mall, Albany, New York
Nathan’s Famous
Miami Int’l Airport, Concourse H, Miami, FL
Nathan’s Famous
Greensboro Piedmont Airport, Greensboro, NC
Nathan’s Famous
JFK Int’l Airport, New Jet Blue Terminal, Queens, NY
Nathan’s Famous
Valdosta State University, Valdosta, GA
Nathan’s Famous
Melbourne Square Mall, Melbourne, FL
Nathan’s Famous
Christiana Mall, Newark, DE
Nathan’s Famous
Raleigh-Durham Airport, Raleigh, NC
Nathan’s Famous
Tinton Falls Outlet Center, Tinton Falls, NJ
Nathan’s Famous
NJ Expo Center, Edison, NJ
Nathan’s Famous
Trump Plaza, Atlantic City, NJ
Nathan’s Famous
New York New York Casino, Las Vegas, NV
Nathan’s Famous
Mariner’s Crossing, Spring Hill, FL
Miami Subs
7301 Overseas Highway, Marathon, FL (MS#4)
Miami Subs
1920 S. Federal Highway, Boynton Beach, FL (MS#9)
Miami Subs
19000 NW 2nd Avenue, North Miami, FL (MS#14)
Miami Subs
661 W. Sunrise Blvd, Ft. Lauderdale, FL (MS#16)
Miami Subs
750 West Sample Road, Pompano Beach, FL (MS#17)
Miami Subs
1198 South State Road 7, North Lauderdale, FL (MS#19)
Miami Subs
4513 Lakeworth Road, Green Acres City, FL (MS#20)
Miami Subs
116 W. Hallandale Beach Blvd., Hallandale, FL (MS#21)
Miami Subs
317 W. Atlantic Blvd., Pompano Beach, FL (MS#22)
Miami Subs
4999 S. State Road 7, Davie, FL (MS#23)

 

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Miami Subs
5875 N.W. 36th Street, Miami, FL (MS#24)
Miami Subs
1851 Broadway, Riviera Beach, FL (MS#27)
Miami Subs
1955 S. State Road 7, Hollywood, FL (MS#28)
Miami Subs
5001 N. University Drive, Lauderhill, FL (MS#30)
Miami Subs
1600 W. 49th Street, Hialeah, FL (MS#33)
Miami Subs
600 N.W. 167th Street, Miami, FL (MS#40)
Miami Subs
2484 N. State Road 7, Lauderdale, Lakes, FL (MS#42)
Miami Subs
3712 W. Columbus Drive, Tampa, FL (MS#44)
Miami Subs
2600 Okeechobee Blvd., West Palm Beach, FL (MS#48)
Miami Subs
7781 Pines Blvd., Pembroke Pines, FL (MS#50)
Miami Subs
888 S. Military Trail, West Palm Beach, FL (MS#52)
Miami Subs
952 North Lake Blvd., Lake Park, FL (MS#60)
Miami Subs
2035 Highway 434, Longwood, FL (MS#61)
Miami Subs
210 SW 40th Avenue, Plantation, FL (MS#76)
Miami Subs
2501 SW 87th Avenue, Miami, FL (MS#90)
Miami Subs
12605 Biscayne Blvd., Miami, FL (MS#104)
Miami Subs
7140 Collins Avenue, Miami Beach, FL (MS#105)
Miami Subs
1099 NW 42nd Ave., Miami, FL (MS#125)
Miami Subs
1101 Washington Avenue, Miami Beach, FL (MS#133)
Miami Subs
1505 S. Federal Highway, Dania, FL (MS#137)
Miami Subs
1420 University Drive, Coral Springs, FL (MS#164)
Miami Subs
4742 North Congress Avenue, Boynton Beach, FL (MS#172)
Miami Subs
641 Route 18 South, East Brunswick, NJ (MS#208)
Miami Subs
Ft. Lauderdale Airport, Ft. Lauderdale, FL (MS#212)
Miami Subs
Brandsmart/4320 NW 167th Street, North Miami, FL (MS#216)
Miami Subs
6694 NW 186th Street, Hialeah, FL (MS#248)
Miami Subs
819 Lake Worth Ave., Lake Worth, FL 33460 (MS#257)

 

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