Document:

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                                                                   EXHIBIT 10.21

                                                  September 10, 2003
Jason Halpern
Counsel
Tel: 212.640.5805
Fax: 212.640.0361
American Express Travel Related Services Company, Inc.
200 Vesey Street, 49th Floor
New York, NY 10285-4901

RE:   FINANCING AGREEMENT - ASSIGNMENT OF CREDIT CARD RECEIVABLES

Dear Sir/Madam:

MORTON'S RESTAURANT GROUP, INC. (the "Company") has recently entered into a new
financing facility (the "Loan and Security Agreement") with WELLS FARGO
FOOTHILL, INC. ("Foothill" or the "Lender") and has issued and may, from time to
time, issue additional notes under an indenture (the "Indenture" and, together
with the Loan and Security Agreement, the "Debt Documents") with The Bank of New
York, as collateral agent (in such capacity, the "Collateral Agent") and trustee
(in such capacity, the "Trustee") for the holders of notes thereunder (the
"Noteholders" and, together with the Lender, the Collateral Agent and the
Trustee, the "Secured Parties"). In accordance with the terms of the Debt
Documents, the Company granted to the Secured Parties a security interest in
Company's inventory, accounts and substantially all of Company's tangible and
intangible personal property, including, without limitation, all rights of the
Company to receive payments in respect of proceeds of American Express card
sales in the Company's stores pursuant to that certain American Express(R) Card
Acceptance Agreement between American Express Travel Related Services Company,
Inc. ("American Express") and the Company ("Agreement").

Pursuant to the Debt Documents, the Company is obligated to arrange for the
proceeds of American Express card sales in the Company's stores to be routed by
American Express to the cash concentration account under the control of
Foothill, as agent (in such capacity, "Agent") for the benefit of itself and the
Collateral Agent, for the benefit of itself, the Trustee and the Noteholders.
Accordingly, by this letter the Company instructs American Express to
immediately continue routing all proceeds of American Express card sales in the
Company's stores (under the Agreement) to the Company account ("Account") set
forth below.

            Account No:       5590039615
            ABA Routing No.:  071000505
            Bank Name:        LaSalle Bank National Association
            Contact:          Hollis Griffin
                              (312) 904-6301

All payments under the Agreement should continue to be made to the Account and
to no other account unless and until you receive written notification from an
officer of Agent. Such notification will only be valid if made in writing and
sent, via first-class mail or overnight delivery, to American Express at the
following address:

                              Jason Halpern
                              Counsel
                              American Express Travel Related Services Company,
                              Inc.
                              200 Vesey Street, 49th Floor
                              New York, NY 10285-4901

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The Company acknowledges that American Express retains all of its rights under
the Agreement, including, but not limited to, American Express' rights to full
recourse thereunder. Furthermore, the Company acknowledges and agrees that
American Express is not required to alter its regular course of business with
respect to acceptance of payment instructions from merchants and that American
Express will have no liability if it acts in accordance with payment
instructions received from an employee or agent of the Company acting with
apparent authority.

The Company will indemnify and hold harmless American Express from any and all
liabilities, claims, demands, actions or judgments, including but not limited to
attorneys' fees, arising out of or resulting from the acts or omissions of the
Company, its employees, officers or agents in connection with this letter
agreement.

The Company appreciates American Express' anticipated cooperation and assistance
in effectuating this request. Should you have any questions concerning this
matter, please do not hesitate to contact us at your convenience, or feel free
to contact the Company directly (c/o Thomas Baldwin)

The terms of this letter cannot be changed, modified, or terminated, except by
written agreement signed by Agent, Company and American Express; provided, that
(i) upon written notice by Agent to American Express of its assignment of all of
its rights and obligations hereunder to the Collateral Agent, the Collateral
Agent shall be deemed to be Agent from the date of American Express's receipt of
such notice, and (ii) this letter shall automatically terminate upon the
termination of the Agreement; provided, that the Agreement shall not be
terminated by the Company without the prior written consent of the Agent.

                                         Very truly yours,

                                         MORTON'S RESTAURANT GROUP, INC.

                                         By:     /s/ Thomas J. Baldwin
                                            ------------------------------------

                                         Name:       Thomas J. Baldwin
                                              ----------------------------------

                                         Title:      EVP & CFO
                                               ---------------------------------

                                         Date:       8/23/03
                                              ----------------------------------

ACCEPTED AND AGREED:

WELLS FARGO FOOTHILL, INC. (AS AGENT)

By     /s/ Sandy Martinez
  ---------------------------------------

Name     Sandy Martinez
    -------------------------------------

Title  Vice President
     ------------------------------------

Date             8/25/03
    -------------------------------------<Page>

                                                                   EXHIBIT 10.22

                            ACCOUNT CONTROL AGREEMENT

          This ACCOUNT CONTROL AGREEMENT is entered into as of September 10,
2003 among WELLS FARGO FOOTHILL, INC. ("Foothill") as Agent (as defined below),
with a place of business located at 2450 Colorado Avenue, Suite 3000W, Santa
Monica, CA 90404, Attn.: Business Finance Division Manager, Facsimile No.: (310)
453-7420, MORTON'S RESTAURANT GROUP, INC. ("Customer"), with a place of business
located at 3333 New Hyde Park Road, Suite 210, New Hyde Park, New York 11042,
Attn.: Thomas Baldwin, Chief Financial Officer, Facsimile No.: 516-627-1898, and
CITIBANK, N.A. ("Depositary Institution"), with a place of business located at 1
Robbins Lane, Jericho, New York 11753, Attn.: Robert Ward, Facsimile
No.:516-9379033.

                                    RECITALS

          A.   Customer has:

               (i)     entered into a Loan and Security Agreement with Foothill
     ("Lender"), dated as of July 7, 2003 (the "Loan and Security Agreement")
     pursuant to which Lender may from time to time make loans and advances and
     provide other financial accommodations to the Customer and pursuant to
     which Customer has granted Lender a security interest in all of the
     Customer's right, title and interest in and to a deposit account maintained
     by Depositary Institution for Customer; and

               (ii)    entered into an indenture, dated as of July 7, 2003 (the
     "Indenture", and together with the Loan and Security Agreement, and the
     Collateral Agreements (as defined in the Indenture) the "Debt Documents"),
     with certain of its subsidiaries and The Bank of New York, as collateral
     agent (in such capacity, the "Collateral Agent") and trustee (in such
     capacity, the "Trustee") for the benefit of the Collateral Agent, the
     Trustee and the holders of the notes issued from time to time under the
     Indenture, which notes are secured by, among other things, all of the
     Customer's right, title and interest in and to a deposit account maintained
     by Depositary Institution for Customer.

          B.   Foothill has agreed to act as agent (in such capacity, "Agent")
for Lender, certain other lenders that may become parties to the Loan and
Security Agreement and for the Collateral Agent, for the benefit of the
Collateral Agent, the Trustee and the holders of the notes issued from time to
time under the Indenture, pursuant to the terms of the Intercreditor Agreement
(as defined therein).

          C.   The parties are entering into this agreement to perfect Agent's
security interests in and to the Account (as hereinafter defined) and to specify
certain rights and duties of the parties with respect to the Account.

                                    AGREEMENT

          1. THE ACCOUNT

          Depositary Institution represents and warrants to Agent and to
Customer that:

               (a)     Depositary Institution maintains deposit account No.
086-044-369 for Customer (the "Account").

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               (b)     Depositary Institution does not know of any claim to or
interest in the Account, except for claims and interests of the parties referred
to in this agreement.

          2. CONTROL BY AGENT

          During any period (the "Block Period) commencing on the date Agent
sends a notice (a "Block Notice") to Depositary Institution indicating that an
Event of Default has occurred and is continuing under any Debt Document and
continuing until Agent provides notice (the "Block Termination Notice") to
Depositary Institution that such Block Notice is terminated, Depositary
Institution will comply with all notifications it receives directing it to
transfer, redeem, or permit the withdrawal of any property in the Account (each
an "Account Related Order") originated by Agent without further consent by or
notification to Customer.

          3. CUSTOMER'S RIGHTS IN ACCOUNT

          Depositary Institution may comply with Account Related Orders
originated by Customer (and not by Agent) with respect to the Account other than
during a Block Period. During a Block Period, Depositary Institution will not
comply with Account Related Orders originated by Customer with respect to the
Account unless such Account Related Orders have been previously consented to in
writing by Agent, until Agent has notified Depositary Institution that the
notice delivered pursuant to Section 2 is no longer in effect.

          4.   PRIORITY OF AGENT'S SECURITY INTEREST

               (a)     Depositary Institution subordinates in favor of Agent any
security interest, lien, or right of setoff it may have, now or in the future,
against the Account or property in the Account, except that Depositary
Institution will retain its prior lien on property in the Account to secure
payment of normal bank charges and fees for the Account.

               (b)     Depositary Institution will not agree with any third
party that Depositary Institution will comply with Account Related Orders
originated by such third party.

          5. STATEMENTS, CONFIRMATIONS, AND NOTICES OF ADVERSE CLAIMS; INQUIRIES
BY THIRD PARTIES

          Depositary Institution will send copies of all statements and
confirmations for the Account simultaneously to Customer and Agent. Depositary
Institution will use reasonable efforts promptly to notify Agent and Customer if
any other person claims that it has a lien, encumbrance, adverse claim or other
property interest in property in the Account or that it is a violation of that
person's rights for anyone else to hold, transfer, or deal with such property.
If any third party requests that Depositary Institution enter into an agreement
to comply with Account Related Orders originated by such third party, or
inquires of Depositary Institution whether Depositary Institution has entered
into such an agreement with any other person or entity, or inquires of
Depositary Institution regarding the existence or non-existence of any adverse
claims or interests in or to the Account, Depositary Institution agrees that it
will use reasonable efforts promptly to advise such third party of the existence
of this agreement in favor of Agent.

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          6. DEPOSITARY INSTITUTION'S RESPONSIBILITY

               (a)     Depositary Institution will not be liable to Agent for
complying with Account Related Orders from Customer that are permitted by
Section 3 hereof or that are previously approved in writing by Agent.

               (b)     Depositary Institution will not be liable to Customer for
complying with Account Related Orders originated by Agent during a Block Period,
even if Customer notifies Depositary Institution that Agent is not legally
entitled to issue the Account Related Order, unless:

                       (i)    Depositary Institution takes the action after it
                              is served with an injunction, restraining order,
                              or other legal process enjoining it from doing so,
                              issued by a court of competent jurisdiction, and
                              had a reasonable opportunity to act on the
                              injunction, restraining order or other legal
                              process; or

                       (ii)   Depositary Institution acts in collusion with
                              Agent in violating Customer's rights.

               (c)     This agreement does not create any obligation of
Depositary Institution except for those expressly set forth in this agreement.
In particular, Depositary Institution need not investigate whether Agent is
entitled, under any Debt Documents, to give an Account Related Order. Depositary
Institution may rely on notices and communications it believes given by the
appropriate party.

          7. INDEMNITY

          Customer will indemnify Depositary Institution, and its officers,
directors, employees, and agents, against claims, liabilities, and expenses
arising out of this agreement, including reasonable attorney fees and
disbursements, except to the extent the claims, liabilities, or expenses are
caused by Depositary Institution's gross negligence or willful misconduct. Agent
will indemnify Depositary Institution, and its officers, directors, employees,
and agents, against claims, liabilities, and expenses arising out of Account
Related Orders given by Agent to Depositary Institution under this agreement
(but not otherwise) or actions taken by Depositary Institution in compliance
with such notices or Account Related Orders (but not otherwise), including
reasonable attorney fees and disbursements, except to the extent the claims,
liabilities, or expenses are caused by Depositary Institution's gross negligence
or willful misconduct. Customer will indemnify Agent, and its officers,
directors, employees, and agents against claims, liabilities, and expenses
arising out of Agent's indemnity of Depositary Institution set forth in the
immediately preceding sentence, including reasonable attorney fees and
disbursements, except to the extent the claims, liabilities, or expenses are
caused by Agent's gross negligence or willful misconduct.

          8. TERMINATION; SURVIVAL

               (a)     Agent may terminate this agreement by notice to
Depositary Institution and Customer. Depositary Institution may terminate this
agreement on 30 days' notice to Agent and Customer. Customer may not terminate
this agreement without the prior written consent of Agent, provided, however,
that this Agreement shall automatically terminate upon termination of the
Account, provided, further that the Account may not be terminated by the
Customer without the prior written consent of the Agent.

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               (b)     Upon written notice by Agent to Depositary Institution of
its assignment of all of its rights and obligations hereunder to Collateral
Agent, Collateral Agent shall be deemed to be the Agent from the date of
Depositary Institution's receipt of such notice.

               (c)     SECTIONS 6, "Depositary Institution's responsibility,"
and SECTION 7, "indemnity," will survive termination of this agreement.

          9. GOVERNING LAW

          This agreement will be governed by the laws of the State of New York.
Depositary Institution and Customer may not change the law governing the Account
without Agent's express written agreement.

          10. AMENDMENTS

          No amendments of, or waiver of a right under, this agreement will be
binding unless it is in writing and signed by the party to be charged.

          11. SEVERABILITY

          To the extent a provision of this agreement is unenforceable, this
agreement will be construed as if the unenforceable provision were omitted.

          12. NOTICE TO DEPOSITARY INSTITUTION

          This Agreement shall constitute notice of the security interest of
Agent in the funds deposited by Customer in the Account as collateral for any
and all obligations of Customer to Agent, for any and all obligations of certain
other parties to Agent, and, by executing this Agreement, Depositary Institution
acknowledges receipt of such notice to Depositary Institution of Agent's
security interest in the Account for the purposes of perfecting Agent's security
interest in the Account in accordance with Section 9-312 of the New York Uniform
Commercial Code.

          13. SUCCESSORS AND ASSIGNS

          A successor to or assignee of Agent's rights and obligations under the
security agreement between Agent and Customer will succeed to Agent's rights and
obligations under this agreement. In addition, Foothill may assign its rights
and obligations under this Agreement to Collateral Agent without the further
consent of the parties hereto.

          14. NOTICES

          A notice or other communication to a party under this agreement will
be in writing (except that Account Related Orders may be given orally), will be
sent to the party's address set forth above or to such other address as the
party may notify the other parties and will be effective on receipt.

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

                           MORTON'S RESTAURANT GROUP,
                           a Delaware corporation

                           By     /s/ Thomas J. Baldwin
                           -------------------------------
                           Name:  Thomas J. Baldwin
                           Title: EVP & CFO

                           WELLS FARGO FOOTHILL, INC.,
                           a California corporation

                           By    /s/ Sandy Martinez
                           -------------------------------
                           Name:  Sandy Martinez
                           Title: Vice President

                           CITIBANK BANK, N.A.

                           By    /s/ Robert C. Ward
                           -------------------------------
                           Name:  Robert C. Ward
                           Title: Financial Center Manager, VP

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