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Exhibit 10.13    
    

CONFORMED COPY

 
 

SEVERANCE ASSUMPTION AGREEMENT    
    

        This Severance Assumption Agreement, dated as of March 16, 2004 (this "Agreement"), is made by and among
Mrs. Fields' Original Cookies, Inc., a Delaware corporation (the "Company"), Mrs. Fields Famous Brands, Inc., a Delaware
corporation ("MFFB"), Larry A. Hodges, an individual residing at 6 Parkside Lane, Sandy, Utah 84092
("Executive"), and Mrs. Fields Famous Brands, LLC, a Delaware limited liability company
("Brandco"). 

W I T N E S S E T H:  

        WHEREAS, pursuant to a Separation Agreement, dated August 6, 2003 (the "Separation Agreement"), by and
among the Company, MFFB and Executive, the Company and MFFB agreed to make certain payments to Executive in connection with the severance of their employment and director relationships; 

        WHEREAS,
the Company, MFFB and Executive have agreed to revise the timing of certain payments to be made to Executive under the Separation Agreement; 

        WHEREAS,
the Company and MFFB are pursuing a reorganization and refinancing that would include as an element the formation of Brandco as a subsidiary of the Company and the offering by
Brandco of senior secured notes (the "Brandco Offering"); and 

        WHEREAS,
in the event that the Brandco Offering is completed, the Company and MFFB desire to have Brandco assume certain payment obligations to Executive under the Separation Agreement
effective as of the completion of the Brandco Offering and Executive desires to consent to such assumption. 

        NOW,
THEREFORE, in consideration of the mutual premises and agreements set forth herein, each of the Company, MFFB, Executive and Brandco, intending to be legally bound hereby, agree as
follows: 

        1.    Definitions.    Capitalized terms used and not otherwise defined herein shall have the respective meanings
ascribed thereto in the Separation Agreement. 

        2.    Revision to Section 3 Payment Schedule.    The Company and Executive hereby agree that the Company's
payment obligations set forth in Section 3 of the Separation Agreement shall be modified as to payments not yet received by Executive so that the Company shall pay to Executive (a) the
amount of $17,916.67 on the 15th and the last days of each calendar month through December 2004 and (b) a lump sum portion in the amount of $304,583.47 on January 15, 2005. 

        3.    Assumption.    In the event that the Brandco Offering is completed, Brandco will execute this Agreement and
thereby assume all then remaining payment obligations in respect of (a) the Company's obligations under the Employment Agreement as specified in Section 3 of the Separation Agreement on
the terms set forth in Section 3 of this Agreement and as modified by this Agreement and (b) MFFB's obligations in connection with the repurchase of Executive's Common Shares as
specified in Section 4(a) of the Separation Agreement. Notwithstanding the foregoing and for the avoidance of doubt, the parties hereby acknowledge that Brandco is not assuming any other
payment obligations of the Company or MFFB contained in the Separation Agreement, including, without limitation, any payments that may be due in connection with a Change of Control or Initial Public
Offering of MFFB as specified in Section 4(c) of the Separation Agreement. 

        4.    No Further Modifications.    Except as specifically set forth in this Agreement, the Separation Agreement
remains unchanged and in full force and effect.

 

        5.    Amendments.    No amendment, modification or waiver in respect of this Agreement will be effective unless in
writing signed by each of the parties hereto, including Brandco should it become a party hereto as provided in Section 3. 

        6.    Headings.    Headings are inserted for convenience only and shall not affect the meaning or interpretation of
this Agreement or any provisions hereof. 

        7.    Time of Essence.    Each of the parties hereto hereby agrees that, with regard to all dates and time periods set
forth or referred to in this Agreement, time is of the essence. 

        8.    Dispute Resolution.    Executive hereby irrevocably submits in any action, suit or proceeding arising out of
this Agreement to the exclusive jurisdiction of the United States District Court resident in Salt Lake City, Utah and the jurisdiction of any court of the State of Utah located in Salt Lake City,
Utah. Executive hereby waives any and all objections to the laying of venue of any such litigation in such jurisdiction and agrees not to plead or claim in any such litigation that such litigation has
been brought in an inconvenient forum. 

        9.    Governing Law.    This Agreement shall be governed by the laws of the State of Utah (other than its rules of
conflicts of law to the extent that the application of the laws of another jurisdiction would be required thereby). 

[Remainder of Page Intentionally Left Blank.] 

        IN WITNESS WHEREOF, the undersigned have caused this Agreement to be executed and delivered as of the date first above written. 

	 	 	THE COMPANY:
	

 	
 	
MRS. FIELDS' ORIGINAL COOKIES, INC.
	

 	
 	

 	

 
	 	 	By:	/s/  MICHAEL R. WARD      
 Name: Michael R. Ward

Title: Senior Vice President
	

 	
 	

 	

 
	 	 	MFFB:
	

 	
 	
MRS. FIELDS FAMOUS BRANDS, INC.
	

 	
 	

 	

 
	 	 	By:	/s/  MICHAEL R. WARD      
 Name: Michael R. Ward

Title: Senior Vice President
	

 	
 	

 	

 
	 	 	EXECUTIVE:
	

 	
 	

 	

 
	 	 	/s/  LARRY A. HODGES      
 Larry A. Hodges
	

 	
 	

 	

 
	 	 	BRANDCO:
	

 	
 	
MRS. FIELDS FAMOUS BRANDS, LLC
	

 	
 	

 	

 
	 	 	By:	/s/  MICHAEL R. WARD      
 Name: Michael R. Ward

Title: Senior Vice President

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Exhibit 10.13

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Exhibit 10.14    
    

CONFORMED COPY

 
  MANAGEMENT AGREEMENT    
    

        This Management Agreement, dated as of March 16, 2004 (this "Agreement"), is made by and between
Mrs. Fields' Original Cookies, Inc., a Delaware corporation (the "Company"), and Mrs. Fields Famous Brands, LLC, a Delaware limited
liability company and a wholly owned subsidiary of the Company (the "Manager"). 

W I T N E S S E T H:

        WHEREAS,
the Company, directly or through one or more Company Subsidiaries, is engaged in the business of owning and operating premium snack food stores, featuring brands such as
Mrs. Fields, Great American Cookie Company, Original Cookie Company, TCBY, Pretzel Time and Pretzelmaker, which are franchised or licensed to the Company by the Manager (the business,
operations and affairs of which are hereinafter referred to collectively as the "Business"); 

        WHEREAS,
the Manager possesses certain valuable management, administrative and operational skills, experience and resources relating to the Business; and 

        WHEREAS,
in accordance with the terms and subject to the conditions set forth in this Agreement, the Company desires to engage the Manager to manage and operate the Business and the
Manager desires to accept such engagement. 

        NOW,
THEREFORE, in consideration of the agreements and premises contained herein and for other good and valuable consideration, the receipt and sufficiency of which hereby are
acknowledged, the Parties agree as follows: 

ARTICLE I  

 DEFINITIONS  

        Section 1.1    Definitions.    As used in this Agreement, the following terms shall have the following
meanings: 

        "Agreement" shall have the meaning set forth in the preamble. 

        "Benefits Allocation Agreement" shall mean the Benefits Allocation Agreement, dated as of even date herewith, by and among the Company,
the Manager and the subsidiaries of the Manager identified therein. 

        "Board" has the meaning set forth in Section 2.2. 

        "Business" shall have the meaning set forth in the first recital. 

        "Capricorn Term Loan" shall mean the Promissory Note, dated as of even date herewith, by MFOC in favor of Capricorn Investors III, L.P., a
Delaware limited partnership. 

        "Company" shall have the meaning set forth in the preamble. 

        "Company Subsidiaries" shall mean all direct or indirect subsidiaries of the Company other than the Manager and its subsidiaries. 

        "Effective Date" shall mean the date of this Agreement. 

        "Excluded Services" has the meaning set forth in Section 2.3. 

        "Formation Transactions" shall mean the transactions occurring on or about the date hereof, including the formation of the Manager and the
issuance of the Manager's senior notes. 

        "Indemnified Parties" has the meaning set forth in Section 8.1.

 

        "Initial Amount" has the meaning set forth in Section 4.1. 

        "Initial Period" has the meaning set forth in Section 3.1. 

        "Insurance Allocation Agreement" shall mean the Insurance Allocation Agreement, dated as of even date herewith, by and among
Mrs. Fields' Companies, Inc., a Delaware corporation, and all of its direct and indirect subsidiaries. 

        "Management Services Reimbursement Amount" has the meaning set forth in Section 4.1. 

        "Manager" shall have the meaning set forth in the preamble. 

        "Officers" has the meaning set forth in Section 2.2. 

        "Party" shall mean either the Company or the Manager. 

        "Renewal Period" has the meaning set forth in Section 3.1. 

        "Services" has the meaning set forth in Section 2.2. 

        "Severance Expenses" has the meaning set forth in Section 6.2. 

        Section 1.2    Interpretation.    

        (a)   The
headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 

        (b)   When
a reference is made in this Agreement to a section or article, such reference shall be to a section or article of this Agreement unless otherwise clearly indicated
to the contrary. 

        (c)   Whenever
the words "include," "includes" or "including" are used in this Agreement they shall be deemed to be followed by the words "without limitation." 

        (d)   The
words "hereof," "herein" and "herewith" and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a whole and not to any
particular provision of this Agreement, and article, section, paragraph, exhibit and schedule references are to the articles, sections, paragraphs, exhibits and schedules of this Agreement unless
otherwise specified. 

        (e)   The
meaning assigned to each term defined herein shall be equally applicable to both the singular and the plural forms of such term, and words denoting any gender shall
include all genders. Where a word or phrase is defined herein, each of its other grammatical forms shall have a corresponding meaning. 

        (f)    A
reference to any Party to this Agreement or any other agreement or document shall include such Party's successors and permitted assigns. 

        (g)   A
reference to "$," "U.S.$," "U.S. dollars" or "dollars," shall mean the legal tender of the United States of America. 

        (h)   A
reference to any legislation or to any provision of any legislation shall include any amendment to, and any modification or re-enactment thereof, any
legislative provision substituted therefor and all regulations and statutory instruments issued thereunder or pursuant thereto. 

        (i)    The
parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this
Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any provision of
this Agreement.

 

ARTICLE II  

 MANAGER'S ENGAGEMENT AND SERVICES  

        Section 2.1    Engagement.    Pursuant to the terms of this Agreement, as of the Effective Date, the Company
hereby engages the Manager as the sole and exclusive agent to manage and operate certain aspects of the Business (as provided in the description of the Services in Section 2.2) on a
day-to-day basis and to render the Services related thereto, and the Manager hereby accepts such engagement and agrees to perform the Services. During the term of this
Agreement, provided that the Manager properly is performing all of its obligations under this Agreement, the Company shall not engage, whether as an employee, officer or independent contractor, any
other person or entity to manage or operate the Business or render such Services. 

        Section 2.2    Services To Be Performed By the Manager.    The Manager shall have the duty to perform on a
continuous and on-going basis, and hereby is granted the authority to perform or cause to be performed, the services listed below for the day-to-day management,
conduct and administration of the Business (collectively, the "Services"). The Manager shall have no obligation to perform any of the Excluded Services
described in Section 2.3 below. 

        (a)   The
determination, establishment and maintenance of administrative, operating, accounting, financial, legal, employment, training, marketing and other standards,
policies and procedures; 

        (b)   The
appointment and supervision of all employees and personnel of the Company, including the provision for the Manager's employees to serve as executive officers of the
Company; 

        (c)   The
determination and implementation, subject to oversight by the Officers of the Company (the "Officers") and any
applicable Company corporate governance guidelines, of all labor policies, including with respect to wage and salary rates, terms, severance, fringe benefits, pension, retirement, bonus and employee
benefit plans and the hiring and discharge of all employees and personnel of the Company; 

        (d)   The
negotiation, preparation, execution, administration and performance of all contracts and agreements relating to the day-to-day operations of
the Business that involve aggregate consideration in excess of $5,000 or are for a duration of greater than six months; 

        (e)   The
preparation of all disclosure documents pertaining to the conduct of the Company's Business and affairs; 

        (f)    The
oversight of marketing and advertising activities of the Company; 

        (g)   The
purchase of or entering into of contracts and agreements for any equipment, supplies or services that the Manager deems required or desirable for the operation of
the Business, and, as appropriate, any sale, disposal or termination of any such equipment, supplies or services that involve aggregate consideration in excess of $5,000 or are for a duration of
greater than six months; 

        (h)   The
supervision, establishment and maintenance of accurate books of account, corporate records and business records reflecting the results of the operations of the
Business, and any records as are required by statute or by any governmental agency with jurisdiction over the Company or the Company Subsidiaries, all of which may be examined by authorized
representatives of the Company at all reasonable times; 

        (i)    Counseling
the Company in connection with policy decisions to be made by the Board of Directors of the Company (the
"Board");

 

        (j)    The
provision of notices to, and correspondence with, the vendors, suppliers, officers, directors, employees and agents of the Company; 

        (k)   The
provision, or arrangements for the provision, of legal, financial, tax and accounting services required by the Board, the Officers, the Manager or third parties
relating to the operation of the Business; 

        (l)    The
payment and discharge of any and all indebtedness and obligations owed by or relating to the Company, except such as the Company or the Manager may in good faith
decide to contest or as to which a bona fide dispute may arise and the payment, of any penalty or interest due in connection therewith; 

        (m)  The
maintenance and keeping in force of insurance of the types and in amounts customarily carried in lines of business similar to the Company's business, including but
not limited to fire, directors and officers, errors and omissions, extended coverage, public liability, damage and workers' compensation, carried in companies and in amounts satisfactory to the
Manager; 

        (n)   The
preparation and delivery to the Company of current monthly and quarterly financial statements reflecting the results of the operations of the Business for such
periods and other statements and reports as may be required by the Company from time to time; 

        (o)   The
initiation (if deemed necessary by the Manager), defense, management or compromise by the Manager of any third party legal actions or proceedings against the Manager
or the Company asserted or arising in the day-to-day conduct of the Business or arising in connection with the Manager's performance of the Service; 

        (p)   The
preparation and filing of tax returns required by any federal, state or local governmental entity, and the payment from the Company's funds, but not from any
management or other fee payable to the Manager, of any tax (both real and personal), assessment, penalty or interest due in connection therewith owed by or relating to the Company, except such as the
Company or the Manager may in good faith decide to contest or as to which a bona fide dispute may arise; 

        (q)   At
the request of the Officers, the engagement of outside quality assurance services upon such terms and conditions as the Manager and the Officers shall mutually agree; 

        (r)   Implementation
and execution of the plan (as determined and adjusted from time to time by the Board) relating to the Company's ownership of stores; 

        (s)   Establishment
and maintenance of information technology systems as determined necessary or desirable by the Manager; 

        (t)    Subject
to the approval of the Officers, the retention for and on behalf of the Company, and at the Company's sole cost and expense, such services of accountants, legal
counsel, appraisers, insurers, brokers, transfer agents, registrars, developers, investment banks, financial advisors, banks and other lenders and others as the Manager deems necessary or advisable in
connection with the management and operations of the Company. Notwithstanding anything contained herein to the contrary, the Manager shall have the right to cause any such additional services to be
rendered by its employees or affiliates or by outside professionals or consultants employed by the Manager for such additional services to the Manager. The Company shall directly pay or promptly
reimburse the Manager or its affiliates performing such additional services for the cost thereof upon receipt of a reasonably detailed invoice; provided that, in the case of such additional services
provided by employees or affiliates of the Manager, such costs and reimbursements are no greater than those which would be payable to outside professionals or consultants engaged to perform such
services pursuant to agreements negotiated on an arm's length basis;

 

        (u)   Except
as provided in Section 2.2(t), the provision of any substantial services in connection with the sale of all or substantially all of the assets of the
Company or any Company Subsidiary, or the merger, consolidation or other corporate reorganization of the Company or any Company Subsidiary; 

        (v)   Such
other services as are reasonably necessary for the effective management of the Business and related to any of the foregoing Services or such other services relating
to the Business as are reasonably requested in writing by the Board or the Officers; provided, however, that (i) the Manager shall not be required to perform such services if, in the sole
judgment of the Manager, it would materially increase the cost to the Manager of providing the Services and (ii) in any case, the Manager would receive additional payment for providing such
services. 

        Section 2.3    Excluded Services and Activities.    Unless otherwise agreed to in writing by the Parties, the
Services shall not include any of the following services by the Manager or its subsidiary or affiliated entities (collectively, the "Excluded
Services"): 

        (a)   The
guaranteeing, or becoming liable in any way as a surety, endorser or accommodation party or otherwise for, or pledging or granting any security interest covering any
of the assets of the Manager or its subsidiary or affiliated entities in connection with, any debts or obligations of the Company; 

        (b)   The
payment, or becoming liable in any way, of any debts, obligations or expenses of the Company, including, without limitation, in respect of (i) any taxes,
penalties or interest due in connection with the Manager's preparation and filing of tax returns on behalf of the Company, (ii) any judgments, fines or other amounts due in connection with the
Manager's initiation or defense of any lawsuit or other proceeding on behalf of the Company, (iii) payroll of the Company; 

        (c)   Services
and obligations including the payment of royalty and ad fund advertising fees to the Manager or its subsidiaries pursuant to franchise agreements and license
agreements between the Company and the Manager or its subsidiaries; 

        (d)   The
performance of any services that as of the Effective Date or as later altered with the consent of the Officers are performed solely by employees of the Company. 

        Section 2.4    Performance by the Manager.    

        (a)   The
Services shall be performed or arranged by the officers, employees, agents and contractors of the Manager as determined by the Manager in its sole discretion. 

        (b)   The
Manager shall use its reasonable efforts, skill and judgment in the performance of the Services. The Manager shall perform or cause the Services to be performed in
material compliance with applicable laws, rules and regulations, including, without limitation, those pertaining to labor, employment and franchising. 

        (c)   In
providing the Services, the Manager shall have a duty to act, and to cause its agents to act, in a reasonably prudent manner, but neither the Manager nor any
director, officer, employee, or agent of the Manager shall be liable to the Company or any third party for any error in judgment or mistake of law or for any loss incurred in connection with the
matters to which this Agreement relates, except that the Manager shall be responsible for a loss resulting from malfeasance, bad faith or gross negligence on the part of the Manager or its directors,
officers, employees or agents. 

        (d)   The
relationship created between the Manager and the Company pursuant to this Agreement shall be solely that of independent contractors, and neither the execution nor

 
performance of this Agreement shall create any partnership or joint venture relationship between the Manager and the Company. 

        Section 2.5    Service as Officers and Directors.    

        (a)   Directors,
officers, employees and agents of the Manager, as may be selected from time to time by the Manager, may be appointed by the Company and serve as directors,
officers, agents, nominees and signatories of the Company or any Company Subsidiary, to the extent permitted by the organizational documents of such entity (and resolutions duly adopted by the board
of directors (or other governing body thereof) pursuant thereto), this Agreement, applicable law and such terms and conditions as the Manager may reasonably impose in connection with such service or
appointment where any such person may serve concurrently as an officer or director of the Manager and as an officer or manager of the Company (or any Company Subsidiary). 

        (b)   Any
individual serving as a director, officer, agent, nominee or signatory of the Company or any Company Subsidiary pursuant to Section 2.5(a) shall be entitled
to indemnification from such entity to the maximum extent provided by the organizational documents of such entity (and resolutions duly adopted by the board of directors (or other governing body
thereof) pursuant thereto). 

        Section 2.6    Bank Accounts.    

        (a)    Establishment and Use.    At the direction of the Officers, on or before the Effective Date, the Manager shall
establish and maintain one or more bank accounts in the name of the Company and any Company Subsidiary, and may collect and deposit funds into any such account, and disburse funds from such accounts
(including, without limitation, for reimbursement of payments to which the Manager is entitled) subject to the terms and conditions of this Agreement and such additional terms and conditions as the
Officers may establish consistent with this Agreement. The Manager shall from time to time render appropriate accountings of such collections and payments to the Officers and, upon request of the
Officers, to the Auditors. 

        (b)    Fees and Expenses.    From the Company bank accounts established pursuant to Section 2.6(a), the Manager
shall be entitled to disburse as and when due the Management Services Reimbursement Amount, and expenses reimbursable to the Manager in accordance with Article IV or as otherwise provided in
this Agreement. 

        (c)    Satisfaction of Company Obligations; Set-Off Right; Misdirected Amounts.    

          (i)  In
addition to the disbursements authorized in Section 2.6(b), from time to time as specified herein or an otherwise determined necessary or appropriate by the
Manager, the Manager shall disburse from the Company bank accounts such funds as are required to paid in satisfaction of the Company's obligations and liabilities, including, without limitation,
payments (i) to tax authorities, (ii) in respect of judgments or settlements, (iii) under the Capricorn Term Loan, or (iv) to MFC for the Company's
pro-rata portion of insurance coverage under the Insurance Allocation Agreement or (v) to third party providers for the Company's pro-rata portion of employee benefits
costs (and amounts remitted to the Company) under the Benefits Allocation Agreement. 

         (ii)  If,
from time to time the Manager shall inadvertently cause the Company to pay directly any costs and expenses that should have been borne and paid directly by the
Manager or its subsidiaries, the Company shall have the right and the Manager shall have the obligation, as soon as practicable following discovery of the error, to deduct such amounts from the next
Management Services Reimbursement Amount to be paid by the Company to the Manager hereunder. 

        (iii)  Any
amounts received by a party to this Agreement, which, pursuant to the terms hereof, is the property of the other party, promptly shall be remitted to such other
party. 

  

ARTICLE III  

 TERM  

        Section 3.    Term.    Unless terminated sooner in accordance with Article VII, the term of this
Agreement shall commence on the Effective Date and shall run until December 31, 2008 (the "Initial Period"). Thereafter, unless terminated sooner
in accordance with Article VII, this Agreement shall be renewed automatically (without the necessity of obtaining any signatures or consent from the Parties) for one additional
five-year period (expiring on December 31, 2013) (the "Renewal Period") unless either the Company or the Manager has provided written
notice to the other Party no less than six months prior to the end of the Initial Period of its intention not to renew. 

 
 

ARTICLE IV    
    
    MANAGEMENT SERVICES REIMBURSEMENT    
    

        Section 4.1    Management Services Reimbursement Amount; Expenses.    

        (a)    Management Services Reimbursement Amount.    During the Initial Period and, if applicable, the Renewal Period,
as a reimbursement for services rendered (including the Services to be provided hereunder) to the Company, the Company shall reimburse the Manager as follows: 

        (i)    On
the Effective Date, the Company shall pay to the Manager $435,000 (the "Initial Amount"); and 

        (ii)   For
each fiscal month (or portion thereof) beginning on the Effective Date, the Company shall pay to the Manager an amount (the "Management
Services Reimbursement Amount") equal to the sum of: 

        (1)   The
actual allocated costs of the fixed general and administrative functions specified on Schedule A attached
hereto under the heading "Fixed G&A"; plus 

        (2)   The
actual allocated costs of the variable general and administrative functions specified on Schedule A attached
hereto under the heading "Variable G&A." 

        (iii)  The
Company and the Manager shall cooperate in good faith to determine the appropriate allocation of the fixed and variable components of the Management Services
Reimbursement Amount (specified in Sections 4.1(a)(ii)(1) and (2) above) as the same may change from time to time. The determination of such allocation shall be made in a manner consistent with
the determination of the allocation identified on Schedule A hereto, which is based upon a review by the senior executive of each department of
the percentage of time of such department's staff that is attributable to the rendering of services to the Company under this Agreement. 

        (iv)  The
Initial Amount shall be credited against the Management Services Reimbursement Amount in respect of the last fiscal month in which services are rendered prior to
the termination or expiration of this Agreement in accordance with its terms and any excess shall be remitted to the Company. The Initial Amount shall not accrue interest. 

        (b)    Expenses.    In addition to the Management Services Reimbursement Amount, the Company shall pay directly or
promptly reimburse the Manager for capital and other expenditures for which reimbursement or payment (as the case may be) is required by this Agreement.

 

        Section 4.2    Calculation and Payment of Management Services Reimbursement Amount.    

        (a)   The
Management Services Reimbursement Amount shall be calculated as promptly as possible following each fiscal month during the term of this Agreement and, in any event,
in advance of the payment due date specified in Section 4.2(c). 

        (b)   Prior
to the payment of the Management Services Reimbursement Amount for each fiscal month, the Chief Financial Officer and one other senior executive officer of the
Manager shall review and approve such allocation. 

        (c)   The
Management Services Reimbursement Amount required under Section 4.1 shall be paid in arrears on a monthly basis to the Manager no later than the fifteenth day
of each fiscal month following the month in which such services are rendered, or, if such date is not a business day, on the next business day. 

        (d)   In
the event that any Management Services Reimbursement Amounts required under Section 4.1 are not paid within five business days of the due date, then the
Company shall pay a late fee equal to one percent of the Management Services Reimbursement Amounts then due for each day from the due date until the date such Management Services Reimbursement Amounts
are paid together with interest on the entire amount then payable at a rate of 18% per annum. 

ARTICLE V  

 ACTIONS REQUIRING CONSENT  

        Section 5.1    Consent of Board.    The following actions shall not occur without prior notice to the Manager
or without the prior consent of the Board: 

        (a)   The
Company or any Company Subsidiary obtaining or permitting to exist, any loan, advance, or other borrowing, whether secured or unsecured or in the ordinary course of
business; 

        (b)   The
Company or any Company Subsidiary creating any security interest or lien against itself or any of its assets to secure a borrowing; 

        (c)   The
issuance or sale of any security of the Company or any Company Subsidiary, including, without limitation, any share of the Company or warrant, bond, note, debenture
or other instrument convertible into any of the foregoing; 

        (d)   The
sale or transfer of any of the assets of the Company that would materially affect the Business or its operations, except as otherwise permitted by
Section 2.2(r); 

        (e)   The
Company or any Company Subsidiary guaranteeing or becoming liable in any way as a surety, endorser, or accommodation endorser or other-wise for debts or
obligations of any other person or entity, other than in the ordinary course of business; 

        (f)    The
commencement of voluntary bankruptcy or insolvency proceedings by the Company or any Company Subsidiary; or 

        (g)   The
dissolution, liquidation, cessation of business, or winding up of the Company or any Company Subsidiary.

 

 
 

ARTICLE VI    
    
    TERMINATION    
    

        Section 6.1    Termination.    

        (a)   This
Agreement may be terminated by the Parties only upon the occurrence of any of the following events: 

        (i)    By
the Company in the event of (A) a material breach of the Agreement by the Manager, which is not cured by the Manager within twenty days after written notice
thereof from the Board, and (B) thereafter a vote of the Board to terminate the Agreement; 

        (ii)   By
the Manager, in the event the Company shall fail to make any payments or reimbursements to the Manager as required by this Agreement within twenty days following
their due date for Management Services Reimbursement Amount payments or the Manager's written demand for reimbursements; or 

        (iii)  By
the express written agreement of the Parties. 

        Section 6.2    Rights Upon Termination.    In the event of a termination of this Agreement pursuant to
Section 6.1(b)(i), the Manager shall bear all expenses incurred by the Manager in connection with the severance of any persons employed by it to render the Services (the
"Severance Expenses"). In the event of a termination of this Agreement pursuant to Section 6.1(b)(ii), the Company shall be liable for and pay
the Severance Expenses to the Manager within ten days of any such termination. Upon termination of this Agreement, (a) the Company shall remit to the Manager any Management Services
Reimbursement Amounts then outstanding (no later than the date on which such amounts otherwise would be required to be paid in accordance with Section 4.2), (b) the Manager shall remit
to the Company any amount in excess of the Initial Amount pursuant to Section 4.1(a)(iv), and (c) the Manager shall provide to the Company all of the documentation, materials, and
records (in whatever form the foregoing may exist) it possesses relating to the Company, and shall otherwise act in good faith to allow for the continued, uninterrupted operation of the Business by
the Company. 

 
 

ARTICLE VII    
    
    DISPUTE RESOLUTION    
    

        Section 7.1    Initial Dispute Resolution.    If a dispute arises out of or relates to this Agreement or its
breach, the Parties shall endeavor to settle the dispute first through direct discussions. If the dispute cannot be settled through direct discussions, and if both Parties agree, the Parties shall
endeavor to settle the dispute by mediation with a third party mediator before recourse to arbitration. The location of the mediation shall be Salt Lake City, Utah. 

        Section 7.2    Arbitration.    Any controversy or claim arising out of or relating to this Agreement or its
breach not resolved by mediation, except for claims which have been waived by the making or acceptance of final payment, shall be decided by binding arbitration in accordance with the applicable rules
of the American Arbitration Association then in effect unless the Parties mutually agree otherwise. Any such arbitration shall be held in Salt Lake City, Utah. Judgment on the award or decision
rendered in arbitration may be entered in any court having jurisdiction thereof. 

        Section 7.3    Work Continuance and Payment.    Unless otherwise agreed by the Parties in writing, the Manager
shall continue to provide the Services covered hereby during any mediation or arbitration proceedings provided that it continues to receive the Management Services Reimbursement Amount and other
payments and reimbursements required under this Agreement.

 

 
 

ARTICLE VIII    
    
    INDEMNIFICATION    
    

        Section 8.1    Indemnification.    The Company shall indemnify and hold the Manager (including its directors,
officers, employees and agents (together with the Manager, the "Indemnified Parties"), whether acting in such capacity on behalf of the Manager or the
Company or both) harmless from and against any and all losses, liabilities, claims, damages, costs and expenses (including reasonable attorneys' fees and other expenses of litigation) to which the
Indemnified Parties may become subject arising out of the Services provided under this Agreement, provided, however, that such agreement by the Company shall not protect the Indemnified Parties
against any liability of which the Indemnified Parties would otherwise be subject by reason of malfeasance, bad faith or gross negligence. 

 
 

ARTICLE IX    
    
    GENERAL PROVISIONS    
    

        Section 9.1    Assignment.    The obligations of the Manager under this Agreement are personal to the Manager,
and the Company is entering into this Agreement in reliance upon the Manager's expertise and knowledge in performing the Manager's obligations hereunder. For the foregoing reasons, the Manager shall
not voluntarily or involuntarily, directly or indirectly, sell, assign, hypothecate, pledge or otherwise transfer or dispose of all or any portion of its interest in this Agreement to any third party
without the prior written consent of the Company; provided, however, the Manager may assign this
Agreement to any of its wholly-owned subsidiaries having the expertise and resources necessary to perform the Manager's duties hereunder. 

        Section 9.2    Amendment.    This Agreement may be amended from time to time only by a writing executed by the
Manager and the Company (subject to the prior written approval of the Board). 

        Section 9.3    Notices.    All notices, requests, demands and other communications hereunder by which either
Party is to be legally bound shall be in writing and shall be given (i) by Federal Express (or other established express delivery service that maintains delivery records), (ii) by hand
delivery, (iii) or by facsimile transmission, to the Parties at their last known addresses. Notices shall be deemed effective upon dispatch. 

        Section 9.4    Costs and Attorneys' Fees.    In the event either Party commences an arbitral or legal
proceeding or mediation to enforce any of the terms of this Agreement, the prevailing Party in such action shall have the right to recover reasonable attorneys' fees and costs from the other Party, to
be fixed by the arbitral panel in the same action. 

        Section 9.5    Entire Agreement.    This Agreement constitutes the entire agreement between the Parties with
respect to the subject matter hereof, and supersedes all prior agreements and negotiations between the Parties with respect thereto. 

        Section 9.6    Governing Law.    This Agreement shall be enforced, governed by and construed in accordance with
the laws of the State of New York without application of choice of law principles. 

        Section 9.7    No Waiver.    No failure or delay of a Party in the exercise of any right given to such Party
hereunder or by law shall constitute a waiver thereof, nor shall any single or partial exercise of any such right preclude the other or further exercise thereof or any other right. The waiver by a
Party of any breach of any provision shall not be deemed to be a waiver of any subsequent breach thereof, or of any breach of any other provision hereof. 

        Section 9.8    Further Assurances.    Each Party shall, whenever and as often as reasonably requested by the
other Party, execute or cause to be executed all such instruments or agreements as may be reasonably necessary in order to carry out the purpose of this Agreement, and each Party shall do all

 
other acts reasonably necessary or requested by the other Party to carry out the intent and purpose of this Agreement. 

        Section 9.9    Ownership of Documents.    All documents related to the Company shall be and remain the sole and
exclusive property of the Company, and the Manager shall acquire no rights in or to such documents. 

        Section 9.10    No Third Party Beneficiary.    Nothing set forth in this Agreement is intended to create in or
confer upon any person, firm or entity not a Party to this Agreement any rights under this Agreement. 

        Section 9.11    Miscellaneous.    The terms, covenants, conditions, and benefits contained herein shall be
binding upon and inure to the benefit of the successors, transferees and permitted assigns of the Parties. Time is expressly made of the essence of each and every provision of this Agreement. This
Agreement shall be interpreted and construed only by the contents hereof. The individuals executing this Agreement represent and warrant that they have the power and authority to do so, and to bind
the entities for whom they are executing this Agreement. If any term or provision of this Agreement or the application of it to any person or circumstance shall to any extent be held by a court to be
invalid or unenforceable, the remainder of this Agreement or the application of such term or provision to persons or circumstances other than those to which it is invalid or unenforceable shall not be
affected thereby, and each term and provision of this Agreement shall be valid and shall be enforced to the extent permitted by law. 

[Remainder of Page Intentionally Left Blank.] 

 

        IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written. 

	 	 	MRS. FIELDS' ORIGINAL COOKIES, INC.
	

 	
 	

By:	
 	

/s/  MICHAEL R. WARD      

	 	 	Name: Michael R. Ward
	 	 	Title: Senior Vice President, General Counsel and Secretary
	

 	
 	
MRS. FIELDS FAMOUS BRANDS, LLC
	

 	
 	

By:	
 	

/s/  MICHAEL R. WARD      

	 	 	Name: Michael R. Ward
	 	 	Title: Senior Vice President, General Counsel and Secretary

  Schedule A  

	 
	 	 
	 	 
	 	StoreCo Total
	 	Fixed
	 	Variable
	 
	 
	 	Acct

Unit
	 	 
	 
	 
	 	Name
	 	$
	 	%
	 	$
	 	%
	 	$
	 	%
	 
	CEO	 	9924	 	CEO	 	1,770	 	34	%	1,423	 	27	%	347	 	7	%
	CEO	 	9928	 	Specialty G&A	 	—	 	0	%	—	 	0	%	—	 	0	%
	CEO	 	8006	 	Gary Talley	 	—	 	0	%	—	 	0	%	—	 	0	%
	CEO	 	9984	 	Administration—GAC Atlanta	 	—	 	0	%	—	 	0	%	—	 	0	%
	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 
	 	 	 	 	Subtotal	 	1,770	 	32	%	1,423	 	26	%	347	 	6	%
	

CFO	
 	

9920	
 	

Finance	
 	

160	
 	

32	
%	

160	
 	

32	
%	

—	
 	

0	
%
	CFO	 	9921	 	Internal Audit	 	—	 	0	%	—	 	0	%	—	 	0	%
	CFO	 	9929	 	Planning and Analysis	 	193	 	51	%	34	 	9	%	159	 	42	%
	CFO	 	9931	 	G & A Payroll	 	—	 	0	%	—	 	0	%	—	 	0	%
	CFO	 	9933	 	Accounting	 	785	 	28	%	145	 	5	%	641	 	23	%
	CFO	 	9934	 	Risk Management	 	24	 	3	%	—	 	0	%	24	 	3	%
	CFO	 	9935	 	Data Processing	 	590	 	52	%	157	 	14	%	433	 	38	%
	CFO	 	9937	 	Treasury	 	44	 	38	%	44	 	38	%	—	 	0	%
	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 
	 	 	 	 	Subtotal	 	1,797	 	30	%	539	 	9	%	1,258	 	21	%
	

Dev	
 	

5555	
 	

TCBY NTRD Program	
 	

—	
 	

0	
%	

—	
 	

0	
%	

—	
 	

0	
%
	Dev	 	9972	 	Mitch Mitchell	 	—	 	0	%	—	 	0	%	—	 	0	%
	Dev	 	9973	 	Franchise Sales	 	—	 	0	%	—	 	0	%	—	 	0	%
	Dev	 	9976	 	Steve Bryan	 	—	 	0	%	—	 	0	%	—	 	0	%
	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 
	 	 	 	 	Subtotal	 	—	 	0	%	—	 	0	%	—	 	0	%
	

Legal	
 	

9925	
 	

Legal	
 	

196	
 	

15	
%	

44	
 	

3	
%	

153	
 	

12	
%
	Legal	 	9940	 	Human Resources	 	23	 	5	%	4	 	1	%	19	 	4	%
	Legal	 	9941	 	Benefits	 	118	 	204	%	10	 	17	%	108	 	187	%
	Legal	 	9942	 	Copy Center	 	—	 	0	%	—	 	0	%	—	 	0	%
	Legal	 	9943	 	Mail Room	 	—	 	0	%	—	 	0	%	—	 	0	%
	Legal	 	9953	 	Cottonwood Building	 	294	 	34	%	159	 	18	%	135	 	16	%
	Legal	 	9967	 	Chairmans Council	 	—	 	0	%	—	 	0	%	—	 	0	%
	Legal	 	9968	 	Administrative Costs	 	50	 	32	%	—	 	0	%	50	 	32	%
	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 
	 	 	 	 	Subtotal	 	682	 	22	%	216	 	7	%	466	 	15	%
	

Marketing	
 	

9944	
 	

Communications	
 	

—	
 	

0	
%	

—	
 	

0	
%	

—	
 	

0	
%
	Marketing	 	9962	 	Product Research & Development	 	—	 	0	%	—	 	0	%	—	 	0	%
	Marketing	 	9966	 	Marketing Payroll	 	—	 	0	%	—	 	0	%	—	 	0	%
	Marketing	 	59975	 	GAC Advertising Fund	 	—	 	0	%	—	 	0	%	—	 	0	%
	Marketing	 	59970	 	MFC/OCC Advertising Fund	 	—	 	0	%	—	 	0	%	—	 	0	%
	Marketing	 	59965	 	HS Advertising Fund	 	—	 	0	%	—	 	0	%	—	 	0	%
	Marketing	 	59960	 	PT Advertising Fund	 	—	 	0	%	—	 	0	%	—	 	0	%
	Marketing	 	59980	 	PM Advertsing Fund	 	—	 	0	%	—	 	0	%	—	 	0	%
	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 
	 	 	 	 	Subtotal	 	—	 	0	%	—	 	0	%	—	 	0	%
	

Ops	
 	

9964	
 	

Purchasing/Distribution	
 	

—	
 	

0	
%	

—	
 	

0	
%	

—	
 	

0	
%
	Ops	 	9969	 	Corporate Training	 	494	 	55	%	347	 	38	%	147	 	16	%
	Ops	 	9971	 	Customer Service	 	—	 	0	%	—	 	0	%	—	 	0	%
	Ops	 	9983	 	Training—GAC	 	—	 	0	%	—	 	0	%	—	 	0	%
	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 
	 	 	 	 	Subtotal	 	494	 	39	%	347	 	0	%	147	 	0	%
	

RE	
 	

9926	
 	

Loss Prevention	
 	

240	
 	

100	
%	

91	
 	

38	
%	

149	
 	

62	
%
	RE	 	9950	 	Real Estate	 	—	 	0	%	—	 	0	%	—	 	0	%
	RE	 	9955	 	Construction	 	132	 	100	%	53	 	40	%	79	 	60	%
	RE	 	9956	 	Repair & Maintenance	 	108	 	100	%	15	 	14	%	93	 	86	%
	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 
	 	 	 	 	Subtotal	 	481	 	54	%	159	 	18	%	321	 	36	%
	 	 	 	 	Total	 	5,223	 	25	%	2,685	 	13	%	2,538	 	12	%
	 	 	 	 	 	 	
	 	 	 	
	 	 	 	
	 	 	 

QuickLinks

Exhibit 10.14

MANAGEMENT AGREEMENT

ARTICLE IV MANAGEMENT SERVICES REIMBURSEMENT

ARTICLE VI TERMINATION

ARTICLE VII DISPUTE RESOLUTION

ARTICLE VIII INDEMNIFICATION

ARTICLE IX GENERAL PROVISIONS

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}]]