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Exhibit 4.11    
  

SEVENTH SUPPLEMENTAL INDENTURE  

        This Seventh Supplemental Indenture, dated as of January 13, 2003 (this "Supplemental Indenture"), is made
by and among Mrs. Fields' Original Cookies, Inc., a Delaware corporation (or its permitted successor) (the "Company"), Great American
Cookie Company, Inc., a Delaware corporation and a subsidiary of the Company ("Great American"), Pretzelmaker, Inc., a Utah corporation
and a subsidiary of the Company ("Pretzelmaker"), Pretzel Time, Inc., a Utah corporation and a subsidiary of the Company
("Pretzel Time"), Mrs. Fields Gifts, Inc., a Utah corporation and a subsidiary of the Company
("MFG"), and Mrs. Fields Cookies Australia, a Utah corporation and a subsidiary of the Company (the "Guaranteeing
Subsidiary"), and The Bank of New York, as trustee under the Indenture referred to herein (the "Trustee"). The Guaranteeing
Subsidiary together with the other Guarantors defined in the Indenture referred to herein are referred to as the "Guarantors." 

W I T N E S S E T H:  

        WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture, dated as of November 26, 1997, as amended by the First Supplemental
Indenture, dated as of August 24, 1998, the Second Supplemental Indenture, dated as of August 24, 1998, the Third Supplemental Indenture, dated as of November 20, 1998, the Fourth
Supplemental Indenture, dated as of December 30, 1998, the Fifth Supplement Indenture, dated as of April 4, 2000, and the Sixth Supplemental Indenture, dated as of December 3,
2002 (as so amended, the "Indenture"), providing for the issuance of an aggregate principal amount of up to $200.0 million of
101/8% Notes due 2004 (the "Notes"); 

        WHEREAS,
the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which the
Guaranteeing Subsidiary shall unconditionally guarantee all of the Company's Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the
"Guarantee"); 

        WHEREAS,
in connection with the entry by the Company into a new credit facility, the Guaranteeing Subsidiary will guarantee certain obligations thereunder; 

        WHEREAS,
pursuant to Section 4.17 of the Indenture, the Guaranteeing Subsidiary is required, simultaneously with the guarantee under the new credit facility, to execute and
deliver this Supplemental Indenture; and 

        WHEREAS,
pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture. 

        NOW
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the Trustee
mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

	11.
	Capitalized Terms. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

	12.
	Agreement to Guarantee. The Guaranteeing Subsidiary hereby agree as follows:

	(a)
	Along
with all Guarantors named in the Indenture, to jointly and severally Guarantee to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its
successors and assigns, irrespective of the validity and enforceability of the Indenture, the Notes or the obligations of the Company hereunder or thereunder, that:

	(i)
	the
principal of and interest on the Notes will be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and
interest on the overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the 

 

Company
to the Holders or the Trustee hereunder or thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and 

	(ii)
	in
case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same will be promptly paid in full when due
or performed in accordance with the
terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason,
the Guarantors shall be jointly and severally obligated to pay the same immediately. 

	(b)
	The
obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Notes or the Indenture, the absence of any action to enforce the
same, any waiver or consent by any Holder of the Notes with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to enforce the same or any other
circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor.

	(c)
	The
following is hereby waived: diligence presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a
proceeding first against the Company, protest, notice and all demands whatsoever.

	(d)
	This
Guarantee shall not be discharged except by complete performance of the obligations contained in the Notes and the Indenture.

	(e)
	If
any Holder or the Trustee is required by any court or otherwise to return to the Company, the Guarantors, or any Custodian, Trustee, liquidator or other similar official acting in
relation to either the Company or the the Guarantors, any amount paid by either to the Trustee or such Holder, this Guarantee, to the extent theretofore discharged, shall be reinstated in full force
and effect.

	(f)
	The
Guaranteeing Subsidiary shall not be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all
obligations guaranteed hereby.

	(g)
	As
between the Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may be accelerated as
provided in Article 6 of the Indenture for the purposes of this Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations
guaranteed hereby, and (y) in the event of any declaration of acceleration of such obligations as provided in Article 6 of the Indenture, such obligations (whether or not due and
payable) shall forthwith become due and payable by the Guarantors for the purpose of this Guarantee.

	(h)
	The
Guarantors shall have the right to seek contribution from any non-paying Guarantor so long as the exercise of such right does not impair the rights of the Holders
under the Guarantee.

	(i)
	Pursuant
to Section 10.02 of the Indenture, after giving effect to any maximum amount and any other contingent and fixed liabilities that are relevant under any applicable
Bankruptcy or fraudulent conveyance laws, and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other Guarantor in respect of the
obligations of such other Guarantor under Article 10 of the Indenture shall result in the obligations of such Guarantor under its Guarantee not constituting a fraudulent transfer or conveyance. 

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	3.
	Execution and Delivery. The Guaranteeing Subsidiary agree that the Guarantee shall remain in full force and effect notwithstanding any
failure to endorse on each Note a notation of such Guarantee.

	4.
	Guaranteeing Subsidiary May Consolidate, Etc. on Certain Terms.

	(a)
	The
Guaranteeing Subsidiary may not consolidate with or merge with or into (whether or not such Guarantor is the surviving Person) another corporation, Person or entity whether or not
affiliated with such Guarantor unless:

	(i)
	subject
to Section 10.05 of the Indenture, the Person formed by or surviving any such consolidation or merger (if other than a Guarantor or the
Company) unconditionally assumes all the obligations of such Guarantor, pursuant to a supplemental indenture in form and sub stance reasonably satisfactory to the Trustee, under the Notes, the
Indenture and the Guarantee on the terms set forth herein or therein; and

	(ii)
	immediately
after giving effect to such transaction, no Default or Event of Default exists. 

	(b)
	In
case of any such consolidation, merger, sale or conveyance and upon the assumption by the successor corporation, by supplemental indenture, executed and delivered to the Trustee
and satisfactory in form to the Trustee, of the Guarantee endorsed upon the Notes and the due and punctual performance of all of the covenants and conditions of the Indenture to be performed by the
Guarantor, such successor corporation shall succeed to and be substituted for the Guarantor with the same effect as if it had been named herein as a Guarantor. Such successor corporation thereupon may
cause to be signed any or all of the Guarantees to be endorsed upon all of the Notes issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee. All
the Guarantees so issued shall in all respects have the same legal rank and benefit under the Indenture as the Guarantees theretofore and thereafter issued in accordance with the terms of the
Indenture as though all of such Guarantees had been issued at the date of the execution hereof.

	(c)
	Except
as set forth in Articles 4 and 5 of the Indenture, and notwithstanding clauses (a) and (b) above, nothing contained in the Indenture or in any of the Notes shall
prevent any consolidation or merger of a Guarantor with or into the Company or another Guarantor, or shall prevent any sale or conveyance of the property of a Guarantor as an entirety or substantially
as an entirety to the Company or another Guarantor. 

	5.
	Releases.

	(a)
	In
the event of a sale or other disposition of all of the assets of any Guarantor, by way of merger, consolidation or otherwise, or a sale or other disposition of all of the capital
stock of any Guarantor, then such Guarantor (in the event of a sale or other disposition, by way of merger, consolidation or otherwise, of all of the capital stock of such Guarantor) or the
corporation acquiring the property (in the event of a sale or other disposition of all or substantially all of the assets of such Guarantor) will be released and relieved of any obligations under its
Guarantee; provided that the Net Proceeds of such sale or other disposition are applied in accordance with the applicable provisions of the Indenture, including without limitation Section 4.10
of the Indenture. Upon delivery by the Company to the Trustee of an Officers' Certificate and an Opinion of Counsel to the effect that such sale or other disposition was made by the Company in
accordance with the provisions of the Indenture, including without limitation Section 4.10 of the Indenture, the Trustee shall execute any documents reasonably required in order to evidence the
release of any Guarantor from its obligations under its Guarantee. 

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	(b)
	Any
Guarantor not released from its obligations under its Guarantee shall remain liable for the full amount of principal of and interest on the Notes and for the other obligations of
any Guarantor under the Indenture as provided in Article 10 of the Indenture. 

	6.
	No Recourse Against Others. No past, present or future director, officer, employee, incorporator, stockholder or agent of the
Guaranteeing Subsidiary, as such, shall have any liability for any obligations of the Company, the Guaranteeing Subsidiary or under the Notes, any Guarantees, the Indenture or this Supplemental
Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of the Notes by accepting a Note waives and releases all such liability. The waiver
and release are part of the consideration for issuance of the Notes. Such waiver may not be effective to waive liabilities under the federal securities laws and it is the view of the Commission that
such a waiver is against public policy.

	7.
	NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE BUT
WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

	8.
	Counterparts. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all
of them together represent the same agreement.

	9.
	Effect of Headings. The Section headings herein are for convenience only and shall not affect the construction hereof.

	10.
	The Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this
Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guarantors and the Company. 

        [Remainder of Page Intentionally Left Blank] 

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        IN
WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date first above written. 

	MRS. FIELDS COOKIES AUSTRALIA	 	 	 	MRS. FIELDS' ORIGINAL COOKIES, INC.
	

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

Title: Senior Vice President	
 	

 	
 	

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

Title: Senior Vice President
	
MRS. FIELDS GIFTS, INC.	
 	

 	
 	

GREAT AMERICAN COOKIE COMPANY, INC.
	

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

Title: Senior Vice President	
 	

 	
 	

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

Title: Senior Vice President
	
PRETZEL TIME, INC.	
 	

 	
 	

THE BANK OF NEW YORK, AS TRUSTEE
	

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

Title: Senior Vice President	
 	

 	
 	

By: /s/ Michael Pitfick
 Name: Michael Pitfick

Title: Assistant Vice President
	
PRETZELMAKER, INC.	
 	

 	
 	

 
	

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

Title: Senior Vice President	
 	

 	
 	

 

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Exhibit 10.54    
  

TENTH AMENDMENT TO

AMENDED AND RESTATED LOAN AGREEMENT  

        This Tenth Amendment to Amended and Restated Loan Agreement (this "Amendment") is made as of the 22nd day of November, 2002 by  Mrs. Fields' Original Cookies,
 Inc., a Delaware corporation ("Borrower"), and LaSalle Bank National
Association, a national banking association ("LaSalle"). 

W I T N E S S E T H:  

        WHEREAS, Borrower and LaSalle are all of the parties to that certain Amended and Restated Loan Agreement dated as of February 28, 1998, as amended by that
certain First Amendment to Amended and Restated Loan Agreement dated as of July 31, 1998 (the "First Amendment"), that certain Second Amendment to Amended and Restated Loan Agreement dated as
of April 1, 1999 ("Second Amendment"), that certain Third Amendment to Amended and Restated Loan Agreement dated as of February 1, 2000 ("Third Amendment"), that certain Fourth Amendment
to Amended and Restated Loan Agreement dated as of April 3, 2000 ("Fourth Amendment"), that certain Fifth Amendment to Amended and Restated Loan Agreement dated as of March 30, 2001
("Fifth Amendment"), that certain Sixth Amendment to Amended and Restated Loan Agreement dated as of September 28, 2001 ("Sixth Amendment"), that certain Seventh Amendment to Amended and
Restated Loan Agreement dated as of December 28, 2001 ("Seventh Amendment"), that certain Eighth Amendment to Amended and Restated Loan Agreement dated as of August 30, 2002 ("Eighth
Amendment") and that certain Ninth Amendment to Amended and Restated Loan Agreement dated as of September 17, 2002 ("Ninth Amendment") (the Amended and Restated Loan Agreement, together with
the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment, the Sixth Amendment, the Seventh Amendment, the Eighth Amendment and the Ninth Amendment, as
further amended, restated, modified or supplemented and in effect from time to time, being herein referred to as the "Loan Agreement"); and 

        WHEREAS,
Borrower has requested that LaSalle amend the Loan Agreement with respect to certain matters, and LaSalle is agreeable to such request, on and subject to the terms and
conditions set forth herein; 

        NOW,
THEREFORE, the parties hereto hereby agree as follows: 

        1.    Definitions.    Capitalized terms used herein and not otherwise defined herein are used with the meanings given
such terms in the Loan Agreement. 

        2.    Amendment.    

        (a)  The
Loan Agreement is hereby amended by deleting the definition of "Revolving Loan Commitment" in its entirety and replacing it with the following: 

"Revolving Loan Commitment" shall mean (i) on and after August 31, 2002 until and including January 14, 2003, Nine Million and
00/100 Dollars ($9,000,000.00), (ii) on and after January 15, 2003, Six Million and 00/100 Dollars ($6,000,000.00). 

        (b)  The
other Loan Documents are amended to the extent necessary to comply with the foregoing amendment to the Loan Agreement. 

        3.    Amendment Fee.    Concurrently with the execution hereof, Borrower shall pay to LaSalle an amendment fee of
$5,000. Borrower hereby acknowledges and agrees that LaSalle may debit any account of Borrower or make an advance on the Revolving Loan for the payment of the amendment fee. 

 

        4.    Representations and Warranties.    Borrower hereby represents, warrants and covenants to LaSalle that: 

        (a)    Authorization.    The Borrower is duly authorized to execute and deliver this Amendment and all deliveries
required hereunder, and is and will continue to be duly authorized to borrow monies under the Loan Agreement, as amended hereby, and to perform its obligations under the Loan Documents. 

        (b)    No Conflicts.    The execution and delivery of this Amendment and all deliveries required hereunder, and the
performance by the Borrower of its obligations under the Loan Documents do not and will not conflict with any provision of law or of the charter or by-laws of the Borrower or of any
agreement binding upon the Borrower. 

        (c)    Validity and Binding Effect.    This Amendment and the Loan Documents are a legal, valid and binding obligation
of the Borrower, enforceable against the Borrower in accordance with their respective terms, except as enforceability may be limited by bankruptcy, insolvency or other similar laws of general
application affecting the enforcement of creditors' rights or by general principles of equity limiting the availability of equitable remedies. 

        (d)    No Events of Default.    As of the date hereof, no Default or Event of Default under the Loan Documents has
occurred or is continuing. 

        (e)    Warranties.    As of the date hereof, the representations and warranties in the Loan Agreement are true and
correct as though made on such date, except where a different date is specifically indicated. 

        5.    Miscellaneous.    

        (a)    Captions.    Section captions and headings used in this Amendment are for convenience only and are not part of
and shall not affect the construction of this Amendment. 

        (b)    Governing Law.    This Amendment shall be a contract made under and governed by the laws of the State of
Illinois, without regard to conflict of laws principles. Whenever possible, each provision of this Amendment shall be interpreted in such a manner as to be effective and valid under applicable law,
but if any provision of this Amendment shall be prohibited by or invalid under such law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the
remainder of such provision or the remaining provisions of this Amendment. 

        (c)    Counterparts.    This Amendment may be executed in one or more counterparts, each of which shall be deemed to
be an original, but all of which shall together constitute but one and the same document. 

        (d)    Successors and Assigns.    This Amendment shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns. 

        (e)    References.    From and after the date of execution of this Amendment, any reference to the Loan Agreement or
the other Loan Documents contained in any notice, request, certificate or other instrument, document or agreement executed concurrently with or after the execution and delivery of this Amendment shall
be deemed to include this Amendment unless the context shall otherwise require. 

        (f)    Continued Effectiveness.    Notwithstanding anything contained herein, the terms of this Amendment are not
intended to and do not serve to effect a novation as to the Loan Agreement. The parties hereto expressly do not intend to extinguish the Loan Agreement. Instead, it is the express intention of the
parties hereto to reaffirm the indebtedness created under the Loan Agreement which is evidenced by the Revolving Note provided for therein and secured by the 

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Collateral. The Loan Agreement, except as modified hereby, and each of the other Loan Documents remain in full force and effect and are hereby reaffirmed in all respects. 

        [Balance of page left intentionally blank; signature page follows.]

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        IN
WITNESS WHEREOF, the parties have executed this Tenth Amendment to Amended and Restated Loan Agreement as of the date first set forth above. 

	 	 	MRS. FIELDS' ORIGINAL COOKIES,

INC., a Delaware corporation
	

 	
 	

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

Its: Senior Vice President
	

 	
 	
LASALLE BANK NATIONAL ASSOCIATION, a national banking association
	

 	
 	

By: /s/ David A. Stang
 Name: David A. Stang

Its: First Vice President

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Exhibit 10.54

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