Document:

REGISTRATION
      RIGHTS AGREEMENT

     

    THIS
      REGISTRATION RIGHTS AGREEMENT (this “Agreement”),
      dated
      as of January 29, 2008, is made by and between NexCen Brands, Inc., a Delaware
      corporation (the “Company”)
      and
      BTMU Capital Corporation(“BTMU”).

     

    WHEREAS, the
      Company and BTMU have entered into that certain Amendment No. 2 to Note Funding
      Agreement Fee Letter dated as of January 29, 2008 (the “Fee
      Letter Amendment”)
      pursuant to which, inter
      alia,
      the
      Company has agreed to issue to BTMU Common Stock Purchase Warrants and to grant
      to the BTMU the registration rights as set forth herein.

     

    NOW
      THEREFORE,
      in
      consideration of the mutual covenants contained herein and for other good and
      valuable consideration, the receipt and sufficiency of which is hereby
      acknowledged, the parties hereto agree as follows:

     

    1. Definitions.
      All
      capitalized terms used but not defined herein shall have the meanings given
      to
      such terms in the Fee Letter Amendment. For the purposes of this Agreement,
      the
      following terms shall have the respective meanings set forth below or elsewhere
      in this Agreement as referred to below:

     

    “Commission”
shall
      mean the Securities and Exchange Commission or any other federal agency at
      the
      time administering the Securities Act.

     

    “Common
      Stock”
shall
      mean common stock, par value $0.01 per share, of the Company.

     

    “Exchange
      Act”
shall
      mean the Securities Exchange Act of 1934, as amended and in effect from time
      to
      time.

     

    “Holder”
means
      BTMU, for so long as it owns any Registrable Securities, and each of its
      respective permitted successors, assigns and direct and indirect transferees
      who
      become beneficial owners of Registrable Securities.

     

    “Parent
      Shares”
shall
      mean those shares of Common Stock issued to BTMU pursuant to the Fee Letter
      Amendment.

     

    “Prospectus”
means
      the prospectus (including any preliminary prospectus and/or any final prospectus
      filed pursuant to Rule 424(b) under the Securities Act and any prospectus that
      discloses information previously omitted from a prospectus filed as part of
      an
      effective registration statement in reliance on Rule 430A, Rule 430B or Rule
      430C under the Securities Act) included in a Registration Statement, as amended
      or supplemented by any prospectus supplement or any Issuer Free Writing
      Prospectus (as defined in Rule 433(h) under the Securities Act) with respect
      to
      the terms of the offering or any portion of the Registrable Securities covered
      by such Registration Statement and by all other amendments and supplements
      to
      such prospectus, including all material incorporated by reference in such
      prospectus and all documents filed after the date of such prospectus by the
      Company under the Exchange Act and incorporated by reference
      therein. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Registrable
      Securities”
shall
      mean, collectively, the Parent Shares issued to BTMU pursuant to the Fee Letter
      Amendment, and
      any
      other securities issued or issuable with respect to the Parent Shares by way
      of
      stock dividend or stock split or in connection with a combination of shares,
      recapitalization, merger, consolidation or other reorganization or
      otherwise;
      provided,
      however,
      that
      such Parent Shares shall cease to be Registrable Securities for purposes of
      this
      Agreement when it no longer is a Restricted Security.

     

    “Required
      Holders”
shall
      mean, at the relevant time of reference thereto, those Holders holding, in
      the
      aggregate, fifty percent (50%) of the Registrable Securities then outstanding
      and then held by all Holders.

     

    “Restricted
      Security”
or
      “Restricted
      Securities”
means
      any share of Common Stock except any that (i) has been registered pursuant
      to an
      effective registration statement under the Securities Act and sold in a manner
      contemplated by the prospectus included in such registration statement; (ii)
      has
      been transferred by the Holder in compliance with the resale provisions of
      Rule
      144 under the Securities Act (or any successor provision thereto); or (iii)
      otherwise has been transferred by the Holder and a new certificate representing
      a share of Common Stock not subject to any stop transfer order or any other
      transfer restrictions has been delivered by or on behalf of the
      Company.

     

    “Securities
      Act”
shall
      mean the Securities Act of 1933, as amended and in effect from time to
      time.

     

    2. Registration
      and Sale.

     

    (a) Registration
      and Sale.
      Subject
      to the limitations set forth in this Section 2(a) and Sections 2(c) and 7(h)
      below, the Company shall file as soon as reasonably practicable after the
      Closing Date but in no event later than 60 days (the “Filing
      Date”)
      of the
      Closing Date, a Registration Statement on Form S-3 (or comparable or successor
      short form registration statement or other registration statement should Form
      S-3 be unavailable) under the Securities Act to register for resale all
      Registrable Securities (a “Registration
      Statement”),
      unless
      the Company is unable to do so as a result of the Commission being unable to
      accept such filing due to unavoidable downtime of the EDGAR filing system
      through no fault of the Company and such obligation to file the Registration
      Statement shall be extended until such delay is resolved.
      The
      Company shall use its commercially reasonable efforts to cause each Registration
      Statement to become effective as soon as possible after filing and to remain
      effective for the period ending on the earlier of (x) the Termination Date
      (as
      defined below) and (y) the date on which there are no Registrable Securities
      covered by the Registration Statement, provided that the Company shall not
      be
      required to maintain the effectiveness of a Registration Statement to the extent
      that a subsequently filed Registration Statement registers the resale of the
      Registrable Securities.

     

    (b) The
      Registration Statement shall be filed as a “shelf” registration statement
      pursuant to Rule 415 under the Securities Act (or any successor rule) and shall
      cover the disposition of all Registrable Securities covered by the Registration
      Statement in one or more underwritten offerings, block transactions, broker
      transactions, at-market transactions and in such other manner or manners as
      may
      reasonably be specified by the Required Holders. The Company shall use its
      reasonable best efforts to keep such Registration Statement continuously
      effective (in accordance with the last sentence of the first paragraph of
      Section 2(a)), and in furtherance of such obligation, shall supplement or amend
      such Registration Statement if, as and when required by the rules, regulations
      and instructions applicable to the form used by the Company for such
      registration or by the Securities Act or by any other rules and regulations
      thereunder applicable to shelf registrations.

     

    
      
        
        

      

      
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    (c) Blackout
      Periods.

     

    (i) Notwithstanding
      anything to the contrary in this Agreement, if at any time after the filing
      of
      the Registration Statement, the Company, by written notice to the Holders (a
      “Suspension
      Notice”),
      may
      direct the Holders to suspend sales of the Registrable Securities pursuant
      to a
      Registration Statement for such times as the Company reasonably may determine
      is
      necessary and advisable (but in no event for more than either (x) an aggregate
      of ninety (90) days in any rolling twelve (12) month period commencing on the
      date of this Agreement or (y) more than sixty (60) days in any rolling 90-day
      period), if any of the following events shall occur: (1) a majority of the
      Board
      of Directors of the Company shall have determined in good faith that (A) the
      offer or sale of any Registrable Securities would materially impede, delay
      or
      interfere with any material proposed financing, offer or sale of securities,
      acquisition, merger, tender offer, business combination, corporate
      reorganization or other significant transaction involving the Company or (B)
      after the advice of counsel, the sale of Registrable Securities pursuant to
      the
      Registration Statement would require disclosure of non-public material
      information not otherwise required to be disclosed under applicable law or
      (2) a
      majority of the Board of Directors of the Company shall have determined in
      good
      faith, after the advice of counsel, that the Company is required by law, rule
      or
      regulation to supplement the Registration Statement or file a post-effective
      amendment to the Registration Statement in order to incorporate information
      into
      the Registration Statement for the purpose of (A) including in the Registration
      Statement any prospectus required under Section 10(a)(3) of the Securities
      Act;
      (B) reflecting in the prospectus included in the Registration Statement any
      facts or events arising after the effective date of the Registration Statement
      (or of the most recent post-effective amendment) that, individually or in the
      aggregate, represents a fundamental change in the information set forth therein;
      or (C) including in the prospectus included in the Registration Statement any
      material information with respect to the plan of distribution not disclosed
      in
      the Registration Statement or any material change to such information. Any
      period in which the use of the Registration Statement has been suspended in
      accordance with this Section 2(c) is sometimes referred to herein as a
“Blackout
      Period.”
Upon
      the occurrence of any such suspension, the Company shall use its reasonable
      best
      efforts to cause the Registration Statement to become effective or to promptly
      amend or supplement the Registration Statement on a post-effective basis or
      to
      take such action as is necessary to make resumed use of the Registration
      Statement, so as to permit the Holders to resume sales of the Registrable
      Securities as soon as possible.

     

    
      
        
        

      

      
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    (ii) No
      Holder
      shall effect any sales of the Registrable Securities pursuant to such
      Registration Statement (or such filings) at any time after it has received
      a
      Suspension Notice from the Company and prior to receipt of an End of Suspension
      Notice (as defined below). If so directed by the Company, each Holder will
      deliver to the Company all copies (other than permanent file copies) then in
      such Holder’s possession of the prospectus covering the Registrable Securities
      at the time of receipt of the Suspension Notice. Any Holder may recommence
      effecting sales of the Registrable Securities pursuant to the Registration
      Statement (or such filings) following further notice to such effect (an
“End
      of
      Suspension Notice”)
      from
      the Company, which End of Suspension Notice shall be given by the Company to
      the
      Holders in the manner described above promptly following the conclusion of
      any
      Suspension Event and its effect. Until the End of Suspension Notice is so given
      to the Holders, the Company’s obligations under Section 3 to update or keep
      current the Registration Statement and the Holders’ right to sell Registrable
      Securities pursuant to the Registration Statement shall be suspended, provided
      that such suspension shall not exceed the periods specified in Section 2(c)(i)
      above.

     

    (d) The
      Company shall be entitled to include in the Registration Statement filed or
      to
      be filed by the Company pursuant to Section 2(a) above shares of the capital
      stock of the Company to be sold by the Company for its own account or for the
      account of any other shareholder of the Company except as and to the extent
      that, such inclusion would reduce the number of Registrable Securities
      registered on such Registration Statement.

     

    3. Further
      Obligations of the Company.
      In
      connection with the Registration Statement, the Company agrees that it shall
      also use its reasonable best efforts to do the following:

     

    (a) prepare
      and file with the Commission such amendments and post-effective amendments
      to
      the Registration Statement and the prospectus used in connection therewith
      as
      may be necessary under applicable law to keep such Registration Statement
      effective for the applicable period; and cause each Prospectus to be
      supplemented by any required prospectus supplement or Issuer Free Writing
      Prospectus (as defined in Rule 433(h) under the Securities Act), and cause
      the
      Prospectus as so supplemented or any such Issuer Free Writing Prospectus, as
      the
      case may be, to be filed pursuant to Rule 424 or Rule 433, respectively (or
      any
      similar provision then in force) under the Securities Act and to comply with
      the
      provisions of the Securities Act, the Exchange Act and the rules and regulations
      applicable to it with respect to the disposition of all Registrable Securities
      covered by the Registration Statement in accordance with each Holder’s intended
      method of disposition set forth in the Registration Statement;

     

    (b) furnish
      to each Holder offering Registrable Securities under the Registration Statement
      (A) after the same is prepared and publicly distributed, filed with the
      Commission, or received by the Company, one copy of the Registration Statement,
      each Prospectus,
      each
      Issuer Free Writing Prospectus, and each amendment or supplement to any of
      the
      foregoing, and (B) such number of copies of the Prospectus, each Issuer Free
      Writing Prospectus, and all amendments and supplements thereto, as the Holders
      may reasonably request to facilitate the disposition of the Registrable
      Securities owned by the Holders;

     

    
      
        
        

      

      
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    (c) register
      or qualify the Registrable Securities covered by the Registration Statement
      under the securities or “blue sky” laws of such jurisdictions within the United
      States as each Holder shall reasonably request unless an available exemption
      to
      such registration or qualification requirements is then available; provided
      that the
      Company shall not be obligated to register or qualify such Registrable
      Securities in any jurisdiction in which such registration or qualification
      would
      require the Company (A) to subject itself to general taxation in any such
      jurisdiction, (B) file any general consent to service of process, or (C) to
      qualify to do business in any jurisdiction where it would not otherwise be
      required to qualify but for this Section 3(c);

     

    (d) timely
      file with the Commission such information as the Commission may prescribe under
      Sections 13 or 15(d) of the Exchange Act, and otherwise use commercially
      reasonable efforts to ensure that the public information requirements of Rule
      144 under the Securities Act are satisfied with respect to the
      Company;

     

    (e) notify
      the Holders promptly in writing (A) of any comments by the Commission with
      respect to the Registration Statement or the Prospectus, or any request by
      the
      Commission for the amending or supplementing thereof or for additional
      information with respect thereto, (B) of the issuance by the Commission of
      any
      stop order or other suspension of the effectiveness of the Registration
      Statement which is known to the Company or the initiation of any proceedings
      for
      that purpose which are known to the Company and (C) of the receipt by the
      Company of any notification with respect to the suspension of the qualification
      of such Registrable Securities for sale in any jurisdiction or the initiation
      or
      threatening of any proceeding for such purposes; and

     

    (f) as
      promptly as practicable after becoming aware of such event, notify the Holders
      of the occurrence of any event of which the Company has knowledge, as a result
      of which the Prospectus included in the Registration Statement, as then in
      effect, or any Issuer Free Writing Prospectus, taken as a whole with the
      Prospectus, includes an untrue statement of a material fact or omits to state
      a
      material fact required to be stated therein or necessary to make the statements
      therein, in light of the circumstances under which they were made, not
      misleading, and to use its commercially reasonable efforts to promptly prepare
      an amendment to the Registration Statement and supplement to the Prospectus
      to
      correct such untrue statement or omission, and deliver a number of copies of
      such supplement or amendment to the Holders as the Holders may reasonably
      request.

     

    4. Obligations
      of the Holders.
      In
      connection with the registration of the Registrable Securities, the Holders
      shall have the following obligations:

     

    (a) It
      shall
      be a condition precedent to the obligations of the Company to complete the
      registration pursuant to this Agreement of the Registrable Securities of each
      Holder that such Holder shall furnish to the Company in writing such information
      regarding itself, the Registrable Securities held by it, and the intended method
      of disposition of the Registrable Securities held by it, as shall be reasonably
      required to effect the registration of such Registrable Securities, and such
      Holder shall execute such documents in connection with such registration as
      the
      Company may reasonably request. 

     

    
      
        
        

      

      
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    (b) The
      Holder, by such Holder’s acceptance of the Registrable Securities, agrees to
      cooperate with the Company as reasonably requested by the Company in connection
      with the preparation and filing of the Registration Statement hereunder, unless
      such Holder has notified the Company in writing of such Holder’s election to
      exclude all of such Holder’s Registrable Securities from the Registration
      Statement.

     

    (c) The
      Holders shall not prepare or use any Free Writing Prospectus (as such term
      is
      defined in Rule 405 under the Securities Act) unless any and all issuer
      information included therein has been approved by the Company and such approval
      shall not be unreasonably delayed, conditioned or withheld.

     

    (d)
      As
      promptly as practicable after becoming aware of such event, the Holders shall
      notify the Company of the occurrence of any event, as a result of which the
      Prospectus included in a Registration Statement, as then in effect, includes
      an
      untrue statement of a material fact or omits to state a material fact required
      to be stated therein or necessary to make the statements therein, in light
      of
      the circumstances under which they were made, not misleading.

     

    (e) Each
      Holder agrees that, upon receipt of any notice from the Company of the happening
      of any event of the kind described in Sections 3(e)(B), 3(e)(C) or 3(f) above,
      such Holder shall immediately discontinue its disposition of Registrable
      Securities pursuant to the Registration Statement.

     

    (f) Each
      Holder shall take all other reasonable actions necessary to expedite and
      facilitate the disposition by the Holder of the Registrable Securities pursuant
      to the Registration Statement.

     

    (g) Each
      Holder hereby covenants and agrees that it will comply with any prospectus
      delivery requirements of the Securities Act applicable to it in connection
      with
      sales of Registrable Securities pursuant to the Registration
      Statement.

     

    5. Expenses.
      

     

    All
      expenses incurred by the Company in complying with its obligations under this
      Agreement shall be paid by the Company, except that the Company shall not be
      liable for any discounts or selling commissions to any underwriter in respect
      of
      the Registrable Securities sold by any Holders.

     

    6. Indemnification
      and Contribution.
      

     

    (a) Indemnification
      by the Company.
      If any
      Registrable Securities are registered for resale under the Securities Act
      pursuant to this Agreement, the Company shall indemnify and hold harmless each
      Holder of such Registrable Securities and such Holder’s directors, officers,
      employees and agents, against any losses, claims, damages, liabilities or
      expenses, joint or several, to which such Holder or any such director, officer,
      employee or agent may become subject under the Securities Act or any other
      statute or at common law, insofar as such losses, claims, damages, liabilities
      or expenses (or actions in respect thereof) arise out of or are based upon
      (i)
      any untrue statement of any material fact contained, on the effective date
      thereof, in the registration statement under which such Registrable Securities
      were registered under the Securities Act or any final prospectus contained
      therein (in each case as amended or supplemented, including without limitation,
      any update pursuant to Rule 424(b) under the Securities Act), provided that
      such
      final prospectus was used to effect a sale by such Holder, (ii) the omission
      or
      alleged omission to state therein a material fact required to be stated therein
      or necessary to make the statements therein not misleading or, with respect
      to
      any prospectus, necessary to make the statements therein in light of the
      circumstances under which they were made not misleading, or (iii) any violation
      by the Company of the Securities Act or state securities or blue sky laws
      applicable to the Company and relating to any action or inaction required of
      the
      Company in connection with such registration or qualification under such state
      securities or blue sky laws; provided,
      however,
      that
      the Company shall not be liable in any such case to the extent that any such
      loss, claim, damage, liability or expense arises out of or is based upon any
      untrue statement or any omission made in such registration statement, final
      prospectus, or amendment or supplement based upon and in conformity with written
      information furnished to the Company by such Holder specifically for use in
      such
      registration statement, prospectus, or amendment or supplement. Such indemnity
      shall remain in full force and effect regardless of any investigation made
      by or
      on behalf of such Holder or such director, officer, employee or
      agent.

     

    
      
        
        

      

      
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    (b) Holders’
      Indemnification.
      In
      connection with the Registration Statement, each such Holder will furnish to
      the
      Company such information as shall reasonably be requested by the Company for
      use
      in such registration statement or prospectus and shall severally, and not
      jointly, indemnify, to the extent permitted by law, the Company, its directors,
      officers, employees and agents against any losses, claims, damages, liabilities
      and expenses (under the Securities Act, at common law or otherwise), insofar
      as
      such losses, claims, damages, liabilities or expenses arise out of or are based
      upon any untrue statement or alleged untrue statement of a material fact
      contained on the effective date thereof in the registration statement, or any
      final prospectus included therein (in each case as amended or supplemented,
      including without limitation, any update pursuant to Rule 424(b) under the
      Securities Act), but only to the extent that such untrue statement of a material
      fact is contained in, or such material fact is omitted from, written information
      furnished by such Holder, specifically for use in such registration statement
      or
      prospectus; provided,
      however,
      that
      the obligations of such Holders hereunder shall be limited to an amount equal
      to
      the net proceeds to each Holder of Registrable Securities sold in connection
      with such registration.

     

    (c) Indemnification
      Procedures.
      Promptly after receipt by an indemnified party hereunder of notice of the
      commencement of any action, such indemnified party shall, if a claim in respect
      thereof is to be made against the indemnifying party hereunder, notify the
      indemnifying party in writing thereof (an “Indemnification
      Notice”),
      but
      the omission so to notify the indemnifying party shall not relieve it from
      any
      liability which it may have to any indemnified party unless the indemnifying
      party is materially and adversely affected thereby. In case any such action
      shall be brought against any indemnified party and it shall notify the
      indemnifying party of the commencement thereof, the indemnifying party shall
      be
      entitled to participate in and, to the extent it shall wish, to assume and
      undertake the defense thereof and, after notice from the indemnifying party
      to
      such indemnified party of its election so to assume and undertake the defense
      thereof, the indemnifying party shall not be liable to such indemnified party
      under this Section 6(c) for any legal expenses subsequently incurred by such
      indemnified party in connection with the defense thereof. Notwithstanding the
      foregoing, the indemnified party shall have the right to employ its own counsel
      at its expense unless (i) the employment of such counsel shall have been
      authorized in writing by the indemnifying party or (ii) the attorneys for the
      indemnifying party shall have concluded that there are defenses available to
      the
      indemnified party that are different from or additional to those available
      to
      the indemnifying party and such counsel reasonably concludes that it is
      therefore unable to represent the interests of both the indemnified and
      indemnifying party (in which case the indemnifying party may employ separate
      counsel). In no event shall the indemnifying party be liable for fees and
      expenses of more than one counsel separate from its own counsel.

     

    
      
        
        

      

      
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    (d) In
      order
      to provide for just and equitable contribution to joint liability under the
      Securities Act in any case in which either (i) any Holder of Registrable
      Securities exercising rights under this Agreement, or any controlling person
      of
      any such Holder, makes a claim for indemnification pursuant to this Section
      6
      but it is judicially determined (by the entry of a final judgment or decree
      by a
      court of competent jurisdiction and the expiration of time to appeal or the
      denial of the last right of appeal) that such indemnification may not be
      enforced in such case notwithstanding the fact that this Section 6 provides
      for
      indemnification in such case, or (ii) contribution under the Securities Act
      may
      be required on the part of any such selling Holder or any such controlling
      person in circumstances for which indemnification is provided under this Section
      6; then, and in each such case, the Company and such Holder will contribute
      to
      the aggregate losses, claims, damages or liabilities to which they may be
      subject (after contribution from others) in such proportion so that such Holder
      is responsible for the portion represented by the percentage that the public
      offering price of its Registrable Securities offered by the Registration
      Statement bears to the public offering price of all securities offered by such
      Registration Statement, and the Company is responsible for the remaining
      portion; provided,
      however,
      that,
      in any such case, (A) no such Holder will be required to contribute any amount
      in excess of the net proceeds received by such Holder from the sale of such
      Registrable Securities offered by it pursuant to such Registration Statement
      and
      (B) no person or entity guilty of fraudulent misrepresentation (within the
      meaning of Section 11(f) of the Securities Act) will be entitled to contribution
      from any person or entity who was not guilty of such fraudulent
      misrepresentation.

     

    7. Miscellaneous.
      

     

    (a) Notices.
      All
      notices and other communications pursuant to this Agreement shall be in writing,
      either hand delivered or sent by certified or registered mail with charges
      prepaid or by commercial courier guaranteeing next business day delivery, or
      sent by facsimile, and shall be addressed:

     

    (i) in
      the
      case of the Company, to the Company at its principal office set forth in the
      Purchase Agreement; and

     

    (ii) in
      the
      case of a Holder, to the address provided by such Holder to the
      Company.

     

    Any
      notice or other communication pursuant to this Agreement shall be deemed to
      have
      been duly given or made and to have become effective (i) when delivered in
      hand
      to the party to which it was directed, (ii) if sent by facsimile and properly
      addressed in accordance with the foregoing provisions of this Section 7(a),
      when
      received by the addressee, (iii) if sent by commercial courier guaranteeing
      next
      business day delivery, on the business day following the date of delivery to
      such courier, or (iv) if sent by first-class mail, postage prepaid, and properly
      addressed in accordance with the foregoing provisions of this Section 7(a),
      (A)
      when received by the addressee, or (B) on the third business day following
      the
      day of dispatch thereof, whichever of (A) or (B) shall be the
      earlier.

     

    
      
        
        

      

      
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    (b) Assignment.
      The
      right
      to have the Company register Registrable Securities pursuant to this Agreement
      may be assigned or transferred only with the prior written consent of the
      Company
      (such
      consent not to be unreasonably withheld, conditioned or delayed), and any such
      assignment or transfer without such consent shall be void and of no effect.
      In
      the event of any such permitted assignment or transfer by any Holder to any
      permitted transferee of all or any portion of such Registrable Securities,
      such
      transfer will be allowed only if: (a) the Holder agrees in writing with the
      transferee or assignee to assign such rights, and a copy of such agreement
      is
      furnished to the Company within a reasonable time after such assignment, (b)
      the
      Company is, within a reasonable time after such transfer or assignment,
      furnished with written notice of (i) the name and address of such transferee
      or
      assignee and (ii) the Registrable Securities with respect to which such
      registration rights are being transferred or assigned, (c) immediately following
      such transfer or assignment, the Registrable Securities so transferred or
      assigned to the transferee or assignee constitute Restricted Securities,
(d)
      at or
      before the time the Company received the written notice contemplated by clause
      (b) of this sentence the transferee or assignee agrees in writing with the
      Company to be bound by all of the provisions contained herein, and (e) the
      Company is furnished with an opinion of counsel, which counsel and opinion
      shall
      be satisfactory to the Company, to the effect that the permitted assignment
      would be in compliance with the Securities Act and any applicable state or
      other
      securities laws.

     

    (c) Amendment
      and Waiver.
      This
      Agreement may not be amended except by an instrument in writing signed by the
      Company and by the Required Holders. Any Holder may waive any of its, his or
      her
      rights under this Agreement (including, without limitation, such Holder’s right
      to cause any other Person to comply with such other Person’s obligations under
      this Agreement) only by an instrument in writing signed by such Holder;
provided,
      however,
      that
      (i) any rights under this Agreement which inure to the benefit of any and all
      Holders (including, without limitation, the right of any and all Holders to
      cause any other Person to comply with such other Person’s obligations under this
      Agreement) may be waived on behalf of any and all Holders by an instrument
      in
      writing signed by the Required Holders. Any waiver, pursuant to this Subsection
      9(c), of a breach of this Agreement shall not operate or be construed as a
      waiver of any subsequent breach.

     

    (d) Governing
      Law; Headings.
      This
      agreement shall be governed by and construed in accordance with the laws of
      the
      State of Delaware without regard to conflict of law provisions of such state.
      The headings in this Agreement are for convenience only and shall not affect
      the
      construction hereof.

     

    (e) Severability.
      In the
      event that any provision of this Agreement shall be invalid, illegal or
      unenforceable, the validity, legality and enforceability of the remaining
      provisions shall not in any way be affected or impaired thereby.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    (f) Entire
      Agreement.
      This
      Agreement is intended by the parties as a final expression of their agreement
      and intended to be a complete and exclusive statement of the agreement and
      understanding of the parties hereto in respect of the subject matter contained
      herein and therein. This Agreement and the Purchase Agreement supersede all
      prior agreements and understandings between the parties with respect to the
      subject matter contained herein and therein.

     

    (g) Counterparts.
      This
      Agreement may be executed in one or more counterparts, each of which shall
      be
      deemed an original, and it shall not be necessary in making proof of this
      Agreement to produce or account for more than one such counterpart.

     

    (h) Termination
      of Registration Rights.
      All of
      the Company's obligations to register Registrable Securities covered by a
      Registration Statement (including without limitation to keep the Registration
      Statement covering such Registrable Securities continuously effective) shall
      terminate, if not previously terminated pursuant to the terms of Section 2(a),
      upon the earlier of (x) two (2) years from the date of the effectiveness of
      such
      Registration Statement, (y) such date that each Holder may sell all of the
      Registrable Securities held by such Holder within a three-month period in
      accordance with Rule 144(d) and (z) delivery by BTMU of an SPW Notice under
      the
      Fee Letter Amendment (the “Termination
      Date”);
      provided,
      that
      the Termination Date shall be extended for the Registrable Securities for a
      period of time equal to the length of: (1) any Blackout Periods; plus (2) a
      period of time of up to three (3) months to the extent that the Required Holders
      determine in good faith and after consultation with the Company that an
      extension is so required due to market conditions; plus (3) the period during
      which a stop order issued by the Commission is in effect. The parties
      acknowledge and agree that any extension described above shall begin to run
      upon
      its occurrence regardless of whether a prior extension is in
      effect.

     

    [SIGNATURE
      PAGE FOLLOWS]

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

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

     

    
      	 	
              NEXCEN
                BRANDS, INC.

            
	 	 
	 	
              By:

            	
              /s/
                Robert D’Loren

            
	 	 	
              Name:

            	
              Robert
                D’Loren

            
	 	 	
              Title:

            	
              President
                and Chief Executive

            
	 	 	 	
              Officer

            

    

     

    
      Signature
        Page to BTMU Registration Rights Agreement

       

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	 	
              BTMU
                CAPITAL CORPORATION

            
	 	 
	 	
              By:

            	
              /s/
                Paul F. Nolan

            
	 	 	
              Name:

            	
              Paul
                F. Nolan

            
	 	 	
              Title:

            	
              Senior
                Vice President

            

    

     

    Signature
      Page to BTMU Registration Rights AgreementSETTLEMENT
      AND RELEASE AGREEMENT

     

    THIS
      SETTLEMENT AND RELEASE AGREEMENT, is dated as of January 29, 2008 (this
      "Agreement"),
      by
      and among NexCen Brands, Inc., a Delaware corporation ("NexCen"),
      Great
      American Cookie Company Franchising, LLC, a Delaware limited liability company
      ("GACCF"),
      Mrs.
      Fields Famous Brands, LLC, a Delaware limited liability company ("MFFB"),
      Mrs.
      Fields' Original Cookies, Inc., a Delaware corporation ("MFOC"),
      each
      of the Franchisees that is a signatory hereto and listed as an “Accredited
      Franchisee” on Schedule I hereto (each an "Accredited
      Franchisee,"
      and
      collectively, the "Accredited
      Franchisees"),
      each
      of the other Franchisees that is a signatory hereto and listed as an “Other
      Franchisee” on Schedule I hereto (each an “Other
      Franchisee,”
and
      collectively, the “Other
      Franchisees,”
and
      collectively with the Accredited Franchisees, the “Franchisees”),
      and
      each Franchisee Principal that is signatory hereto and listed on Schedule I
      hereto (each a "Franchisee
      Principal,"
      and
      collectively, the "Franchisee
      Principals").
      Capitalized terms used in these recitals without definition shall have the
      meanings set forth in Section 1 below.

     

    WHEREAS,
      each of the Franchisees, MFOC, Capricorn Investors II, L.P., a Delaware limited
      partnership ("Capricorn"),
      Great
      American Cookie Company, Inc., a Delaware corporation ("GACC"), Cookies USA,
      Inc., a Delaware corporation ("Cookies
      USA"),
      are
      parties to or eligible under the terms of certain Settlement Agreement and
      Releases each dated June 1998 (the "1998
      Settlement Agreements"),
      pursuant to which the parties thereto agreed to settle certain claims and make
      certain undertakings as set forth therein;

     

    WHEREAS,
      MFFB, NexCen, NexCen Asset Acquisition, LLC, NexCen Fixed Asset Company, LLC,
      GACCF, and Great American Manufacturing, LLC, will enter into an Asset Purchase
      Agreement dated as of even date herewith (the "Asset
      Purchase Agreement"),
      pursuant to which, inter
      alia,
      GACCF
      will sell to NexCen or its Affiliates, and NexCen or its Affiliates will acquire
      from GACCF, certain assets owned or used by GACCF in the GAC Franchise,
      including the GAC Brands (the “Transaction”);

     

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

     

    1. Definitions.
      For the
      purposes of this Agreement, the following terms and variations thereof have
      the
      meanings specified or referred to in this Section 1:

     

    "Affiliate"
      of any
      Person means any Person which, directly or indirectly controls or is controlled
      by that Person, or is under common control with that Person. For the purposes
      of
      this definition, "control" (including, with correlative meaning, the terms
      "controlled by" and "under common control with"), as used with respect to any
      Person, shall mean the possession, directly or indirectly of the power to direct
      or cause the direction of the management and policies of such Person, whether
      through ownership of voting securities or by contract or otherwise.

     

    "Brands"
      means
      the "Great American Cookies," "Great American Chocolate Chip Cookie Company,"
      "MaggieMoo's," "Marble Slab," "Pretzel Time," and "Pretzelmaker," and all other
      quick service restaurant franchising brands owned or in use by NexCen, whether
      such Brand is owned or used by NexCen prior to, on or after the Closing
      Date.

     

    "Closing"
      means
      the closing of the acquisition by NexCen or its Affiliates of those assets
      owned
      or used by GACCF in the GAC Franchise described in and pursuant to the Asset
      Purchase Agreement.

     

    "Closing
      Date"
      shall
      mean the date on which the Closing occurs.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    "Contract"
      means
      any contract, license, sublicense, franchise, permit, mortgage, purchase orders,
      indenture, loan agreement, note, lease, sublease, agreement, obligation,
      commitment, understanding, instrument or other arrangement or any commitment
      to
      enter into any of the foregoing (in each case, whether written or
      oral).

     

    "Franchise" means
      the
      grant by NexCen or its Affiliate to a Franchisee or Franchisee Principal of
      the
      rights to establish and operate a location using the Brands or outlet thereof
      including subfranchise agreements, master development agreements, area
      representative agreements, area development agreements, master franchise
      agreements, development agreements, license agreements, and any other similar
      agreements, together with all ancillary agreements related thereto.

     

    "Franchise
      Agreements"
      means
      any
      Contract
      (and any written or oral amendment or modification thereto) between NexCen
      or
      any of its Affiliates and a Franchisee or Franchisee Principal, as the case
      may
      be, pertaining to and evidencing the grant of a Franchise.

     

    "Franchise
      Credit"
      has the
      meaning set forth in Section 4(c).

     

    "Franchisee
      Account"
      means
      the account designated by each Franchisee at least three (3) Business Days
      prior
      to the Closing Date.

     

    "GAC
      Brands"
      means
      the "Great American Cookies" and "Great American Chocolate Chip Cookie Company"
      brands.

     

    "GACC
      Association"
      means
      the Association of GACC Franchisees, Inc.

     

    "GAC
      Franchise Agreement"
      means
      any Contract (and written or oral amendment or modification thereto) between
      GACCF or NexCen or their respective Affiliate, as a party and as the case may
      be, and a Franchisee or Franchise Principal, as a counter-party and as the
      case
      may be, pertaining to and evidencing the grant of a GAC Franchise.

     

    "GAC
      Franchise"
      means
the
      grant
      by GACCF or NexCen or their respective Affiliate, as applicable, to a franchisee
      of the rights to establish and operate a location using the GAC Brands
      or
      outlet thereof including subfranchise agreements, master development agreements,
      area representative agreements, area development agreements, master franchise
      agreements, development agreements, license agreements, and any other similar
      agreements, together with all ancillary agreements related thereto.

     

    "Increased
      Royalty Payment"
      has the
      meaning set forth in Section 6.

     

    "Initial
      Franchise Fees"
      means,
      in the aggregate, the nonrecurring initial franchise fees payable pursuant
      to
      any Franchise Agreements.

     

    "Marks"
      has the
      meaning set forth in Section 5(d).

     

    "New
      Franchise Agreement"
      means
      any Franchise Agreement entered into after the date hereof between NexCen or
      its
      Affiliate and a Franchisee, Franchisee Principal or its designee to open a
      new
      Franchise location.

     

    "Payment
      Date"
      has the
      meaning set forth in Section 6.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    "Person"
      means
      an individual, partnership, corporation, business trust, limited liability
      company, limited liability partnership, joint stock company, trust,
      unincorporated association, joint venture or other entity or a government
      authority.

     

    "Products"
      has the
      meaning set forth in Section 5(d).

     

    "Pro
      Rata Share"
      means,
      for each Franchisee, the cash amount or number of Warrants, as applicable,
      set
      forth opposite such Franchisee's name on Schedule I hereto.

     

    “Purchaser
      Representative”
has
      the
      meaning set forth in Rule 501(h) of Regulation D promulgated under the
      Securities Act.

     

    "Release
      Consideration"
      has the
      meaning set forth in Section 4.

     

    “Royalty
      Payment”
for
      each Franchisee, means the amount set forth next to such Franchisee’s name on
      Schedule I hereto.

     

    “Securities
      Act”
shall
      mean the Securities Act of 1933, as amended and in effect from time to
      time.

     

    “Tag-Along
      Rights”
means
      the rights of each Franchisee under Section 2 of the 1998 Settlement
      Agreements.

     

    "Undertakings"
      has the
      meaning set forth in Section 5.

     

    "Warrant"
      means a
      Stock Purchase Warrant substantially in the form attached hereto as Exhibit
      A.

     

    2. Acquisition
      of Tag-Along Rights.
      Immediately prior to and subject to the completion of the Closing, in connection
      with the Transaction pursuant to the Asset Purchase Agreement, MFFB will acquire
      from each Franchisee, and each Franchisee will transfer to MFFB, all of such
      Franchisee’s Tag-Along Rights (the “Acquired
      Tag-Along Rights”).
      MFFB
      shall immediately, upon and subject to the Closing, convey all of the Acquired
      Tag-Along Rights to NexCen. NexCen will then terminate such Acquired Tag-Along
      Rights and such rights will no longer be of any force and effect.

     

    3. Release.

     

    (a) (i)
      In
      addition to the acquisition of the Acquired Tag-Along Rights pursuant to Section
      2 of this Agreement and subject to the Closing occurring, and in consideration
      of the Undertakings and payment of the Release Consideration, each Franchisee
      and each Franchisee Principal, on behalf of themselves, any predecessor or
      other
      past, current or future direct or indirect investors in or directors, officers
      and employees of the Franchisee and each such person's successors and assigns
      (collectively with each Franchisee and the Franchisee Principal, the
      "Releasor
      Group")
      hereby
      agrees, upon the Closing, to release any and all rights, causes and actions,
      whether or not known or anticipated, that any member of the Releasor Group
      may
      have, directly or indirectly, against NexCen, Mrs. Fields, Capricorn, Cookies
      USA, or GACC and any of their respective past, current or future direct or
      indirect investors, lenders, affiliates, directors, officers or employees or
      any
      such person's successors and assigns (collectively, the "Releasees")
      arising out of or otherwise relating to, directly or indirectly, the 1998
      Settlement Agreements, including but not limited to any rights that may be
      associated with the Tag-Along Rights that are not otherwise acquired by MFFB
      pursuant to Section 2 of this Agreement. Each member of the Releasor Group
      further agrees and acknowledges that, upon the Closing, the 1998 Settlement
      Agreements will terminate and be of no further force and effect and any and
      all
      rights of the Releasor Group thereunder shall be extinguished; and

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

       

    

    (ii)
      In
      consideration of the various undertakings reflected in this Agreement, the
      GACC
      Association, on the one hand, and, on the other hand, NexCen, GAACF, MFFB,
      MFOC,
      each Franchisee and Franchisee Principal, and in respect to all such parties
      and
      each of their respective affiliates, successors and assigns, each of their
      respective officers, directors, agents, employees and members, do hereby release
      and forever discharge any and all rights, claims, causes and actions, whether
      or
      not known or anticipated, which any of them has or may have, directly or
      indirectly, against any or all of the rest of them, as of the Closing Date,
      arising out of, relating to, or in connection with any matter, undertaking
      or
      transaction described in this Agreement.

     

    (b) The
      members of the Releasor Group understand and agree that this Section 3 is a
      full
      and final release applicable to all unknown and unanticipated claims, as well
      as
      those known or disclosed, and in consideration of and as an inducement for
      the
      Undertakings and payment of the Release Consideration, the members of the
      Releasor Group hereby expressly waive all rights or benefits which they now
      have
      or may in the future have against any of the Releasees under the provisions
      of
      Section 1542 of the California Civil Code, which section provides that "a
      general release does not extend to claims which the creditor does not know
      or
      suspect to exist in his favor at the time of executing the release, which if
      known to him must have materially affected his settlement with the debtor",
      or
      of provisions of similar import under the laws of other
      jurisdictions.

     

    4. Release
      Consideration.
      As
      consideration for the acquisition of the Acquired Tag-Along Rights pursuant
      to
      Section 2 of this Agreement and the release provided in Section 3 and subject
      to
      the Closing occurring, each of MFFB or NexCen, as applicable, shall pay each
      Franchisee the amounts set forth below (the "Release
      Consideration"):

     

    (a) Within
      three (3) Business Days following the Closing Date, MFFB shall pay to each
      Franchisee, by wire transfer of immediately available funds to each applicable
      Franchisee Account, such Franchisee's Pro Rata Share of Six Million Seven
      Hundred Thousand Dollars ($6,700,000);

     

    (b) Within
      five (5) Business Days following the Closing Date, NexCen shall deliver to
      each
      Franchisee a Warrant representing such Franchisee's Pro Rata Share of Three
      Hundred Thousand (300,000) shares of NexCen common stock; provided,
      that
      NexCen shall not be obligated to issue any Warrant to any Person who has not
      completed an accredited investor questionnaire; and

     

    (c) Following
      the Closing Date, NexCen shall credit each Franchisee who elects to enter into
      a
      New Franchise Agreement with NexCen its Pro Rata Share of One Million Dollars
      ($1,000,000) towards any Initial Franchise Fees payable under such New Franchise
      Agreement, on one or more New Franchise Agreements, until such Pro Rata Share
      is
      exhausted ("Franchise
      Credit"),
      which, if permitted by applicable law, Franchise Credit may be transferred
      by
      such Franchisee, subject to NexCen's prior written approval, which shall not
      be
      unreasonably refused, conditioned, or delayed if such transferee meets NexCen’s
      franchisee criteria applicable to such Franchise; provided,
      however,
      that
      the Franchise Credit shall not reduce the Initial Franchise Fee payable under
      any New Franchise Agreement to less than One Thousand Dollars ($1,000);
provided,
      further,
      that
      the Franchise Credits shall expire, if not otherwise used, on the two (2) year
      anniversary of the Closing Date. 

     

    5. NexCen
      Undertakings.
      NexCen
      hereby agrees, subject to and following the Closing Date, for the benefit of
      each Franchisee as follows (each an “Undertaking,”
and
      collectively, the “Undertakings”):

     

    (a) NexCen
      will agree to maintain product and development support and marketing expenses
      for the Products consistent with the average level of expenditure in calendar
      years 2001, 2002, 2003, 2004 and 2005. Notwithstanding the foregoing, if
      marketing fund contributions are lower than average expenditures in calendar
      years 2001, 2002, 2003, 2004 and 2005, and/or the total number of GACCF units
      decrease, then marketing expenditures may be adjusted
      proportionately.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

       

    

    (b) NexCen
      will provide the GACC Association (1) timely notice of any material change
      proposed by NexCen or its Affiliates to the GAC Franchise Agreement and (2)
      the
      opportunity to consult with NexCen or its Affiliates, as applicable, regarding
      such change. NexCen or its Affiliate, as applicable, will consider, in good
      faith, all comments made by the GACC Association regarding proposed changes
      to
      the GAC Franchise Agreement. 

     

    (c) Provided
      that the GACC Association continues to represent a majority of the GAC Brands'
      franchise stores and its board of directors is elected through democratic
      procedures, NexCen or its Affiliates, as applicable, will (1) recognize the
      GACC
      Association, and (2) provide the GACC Association with notice of all material
      matters directly affecting the GAC Franchise and the opportunity to consult
      with
      NexCen regarding such matters. NexCen will consider, in good faith, all comments
      made by the GACC Association regarding such matters. 

     

    (d) The
      parties' shared intent is to preserve the "Great American" brand and system
      as a
      discrete and competitive system, whether as stand-alone "Great American" outlets
      or as co-branded outlets with one or more other brands approved by NexCen.
      Therefore, NexCen or its Affiliate, as applicable, agrees to maintain the
      primary GACC products (the "Products")
      and
      primary marks and designs associated with the GAC Brands (the "Marks")
      for
      three (3) years following the Closing (the “Brand
      Maintenance Period”).
      After
      the Brand Maintenance Period, NexCen or its Affiliate, as applicable, agrees
      to
      maintain the Products and Marks, unless NexCen or its Affiliate, as applicable,
      (i) determines in good faith that changes to the Products and/or the Marks
      are
      necessary in order to satisfy then-current market demands; (ii) proposes to
      sell
      or otherwise transfer, in a single transaction or series of transactions, to
      an
      unaffiliated party all, or substantially all, of the rights related to the
      GAC
      Franchise, including the Products and/or Marks; or (iii) obtains the approval
      of
      any changes to the Products and/or Marks from either (A) the GACC Association
      or
      (B) the owners of a majority of franchised Great American Cookie outlets;
provided,
      that
      NexCen and the GACC Association agree to meet and discuss in good faith any
      proposed change to the Products and/or the Marks as set forth in Section 5(d)(i)
      or Section 5(d)(iii) above; provided,
      further,
      that,
      after the Brand Maintenance Period, NexCen or its Affiliate, as applicable,
      will
      use their good faith efforts to provide the GACC Association with ninety (90)
      days notice prior to any change to the Products and/or Marks. Notwithstanding
      anything to the contrary, NexCen agrees to meet in good faith with the Executive
      Committee of the GACC Association to discuss any disposition of the GAC
      Franchise pursuant to Section 5(d)(ii) above; provided,
      that
      each member of the Executive Committee of the GACC Association enter into a
      non-disclosure agreement reasonably satisfactory to NexCen prior to any
      meetings; provided,
      further,
      that
      NexCen shall not be required to meet with the Executive Committee of the GACC
      Association if NexCen is advised by counsel that such meeting would breach
      any
      obligation or applicable law or other directive to which NexCen is
      subject.

     

    (e) The
      profit margin for the batter facility that will be provided to each Franchisee
      by NexCen or its Affiliates for use in the GAC Franchise will remain at forty
      percent (40%) or less for the two (2) years following the Closing. For purposes
      of the foregoing, it is agreed that costs taken into account shall consist
      of
      only ingredients, utilities, labor and other direct or indirect costs. The
      compliance of NexCen or its Affiliates, as applicable, with this Section 5(e)
      will be subject to verification, upon at least sixty (60) days prior written
      request by the GACC Association, by NexCen’s independent auditors in connection
      with their annual audit of NexCen’s financial statements.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

       

    

    (f) Notwithstanding
      anything set forth in Section 9 of the Warrant, the Company shall use its
      reasonable good faith efforts to effect the registration of the Warrant Shares
      (as defined in the Warrant) on the Registration Statement on Form S-3 that
      will
      be filed in connection with certain shares of NexCen being offered to the
      sellers under the Asset Purchase Agreement.

     

    6. Franchisee
      Undertakings.
      Notwithstanding anything set forth in any GAC Franchise Agreement, each
      Franchisee agrees that on the tenth day of each month following the Closing
      Date
      (each a "Payment
      Date")
      until
      the sixtieth (60th) month
      following the Closing Date, each Franchisee shall pay to NexCen or its
      Affiliates, an increased royalty payment under each GAC Franchise Agreement
      (each, an "Increased
      Royalty Payment").
      The
      Increased Royalty Payment shall be payable by each Franchisee on each Payment
      Date, by electronic funds transfer which will be drafted by NexCen along with
      the monthly royalty fee then due, and the amount due from each Franchisee on
      each Payment Date shall equal one-sixtieth (1/60) of such Franchisee's Royalty
      Payment received by such Franchisee. Notwithstanding anything to the contrary
      set forth herein or in any GAC Franchise Agreement, if a Franchisee ceases
      to be
      a party to a GAC Franchise Agreement in effect as of the date hereof, such
      Franchisee shall immediately pay NexCen an amount equal to the difference
      between (x) such Franchisee's Royalty Payment in respect to such GAC Franchise
      Agreement minus
      (y) any
      Increased Royalty Payments previously made by such Franchisee under this Section
      6 in respect to such GAC Franchise Agreement.

     

    7. Franchisee
      Representations and Warranties. 

     

    (a) Each
      Franchisee and each Franchisee Principal hereby represents and warrants that
      (i)
      this Agreement has been approved by all necessary action required to make it
      a
      valid and binding obligation of such Franchisee, such Franchisee Principal
      and
      all the other members of the Releasor Group, as the case may be, (ii) this
      Agreement is the valid, binding and legal obligation of such Franchisee, such
      Franchisee Principal and all other members of the Releasor Group, as the case
      may be, (iii) such Franchisee or Franchisee Principal, as the case may be,
      is
      acquiring the Warrants solely for its own account for investment purposes and
      not with a view to the distribution thereof.

     

    (b) 
      Each
      Franchisee, either alone or together with its respective Purchaser
      Representative, has received certain information, including but not limited
      to
      the Settlement and Release Disclosure Package and Memorandum dated December
      13,
      2007, concerning NexCen and has had the opportunity to obtain additional
      information and ask any questions it has desired in order to evaluate the merits
      and risks inherent in receiving the Warrants.

     

    (c) No
      Franchisee was offered or sold the Warrants directly or indirectly, by means
      of
      any form of general advertising or general solicitation, including, but not
      limited to (i) any advertisement, article, notice, or other communication
      published in a newspaper, magazine, or similar medium of communication or
      broadcast over television or radio; or (ii) to the knowledge of such Franchisee,
      any seminar or meeting whose attendees have been invited by any general
      solicitation or general advertising.

     

    (d) Each
      Franchisee (i) can bear the economic risk of the investment in the Warrants,
      including the total loss of such Franchisee’s investment; (ii) has such
      knowledge and experience in business and financial matters as to be capable
      of
      evaluating the merits and risks of an investment in the Warrants; and (iii)
      understands the non-liquid nature of an investment in the Warrants. Each
      Franchisee acknowledges and understands that the Warrants are a speculative
      investment that involve a high degree of risk and there can be no guarantee
      of
      the amount or type of profit, if any, to be realized as a result of an
      investment in the Warrants.

     

    (e) Each
      Franchisee acknowledges that NexCen is relying on exemptions from the
      registration requirements of the Securities Act and afforded by applicable
      state
      statutes and regulations. Each Franchisee understands that the Warrants will
      not
      be registered under the Securities Act or the securities laws of any state
      and
      are subject to restrictions on transfer.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

       

    

    (f) No
      Franchisee that is a corporation, partnership or other entity was organized
      for
      the specific purpose of acquiring the Warrants.

     

    (g) Each
      Accredited Franchisee represents and warrants that it is an “accredited
      investor,” as defined in Regulation D promulgated under the Securities
      Act.

     

    8. Purchaser
      Representative.
      Each
      Other Franchisee hereby represents and warrants that it has irrevocably
      designated and appointed the person set forth opposite such Other Franchisee’s
      name on Schedule II hereto as its Purchaser Representative. Each Other
      Franchisee intends to rely on its respective Purchaser Representative to assist
      the undersigned in evaluating the risks and merits of an investment in the
      Warrants.

     

    9. Miscellaneous.
      This
      Agreement may be executed in one or more counterparts, may not be changed orally
      and is made and shall be governed by and construed in all respects in accordance
      with the laws of the State of Delaware, without regard to the principles of
      conflicts of laws thereof which might refer such interpretation to the laws
      of a
      different state or jurisdiction. This Agreement benefits and binds the parties
      hereto and, subject to Section 4, their respective successors and assigns.
      Notices hereunder shall be in writing and addressed to the address indicated
      below or to such other address as the intended recipient has specified in
      writing, and (assuming actual receipt) are deemed given when delivered in
      person, one business day after being sent by telecopier or by overnight express
      mail service, or four (4) Business Days after being sent by mail. All disputes
      arising in connection with the interpretation, performance and enforcement
      of
      this Agreement shall be resolved through binding arbitration under the Federal
      Arbitration Act and conducted by the American Arbitration Association under
      its
      rules for commercial arbitration, provided that the arbitrator may award
      reasonable fees and costs to the prevailing party. Arbitration shall take place
      in the state where the respondent's principal place of business is located.
      Except as expressly provided herein to the contrary, each GAC Franchise
      Agreement shall remain in full force and effect in accordance with and subject
      to its respective terms and conditions. Nothing in this Settlement and Release
      Agreement alters the terms or status of any agreement of any Great American
      franchisee who is not party to this Agreement. The GACC Association is an
      intended third party beneficiary of Section 5 of this Agreement.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

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

     

    
      
        	 	NEXCEN
                BRANDS, INC.,
	 	a
                Delaware corporation
	 	 
	
                 

              	
                By:

              	
                /s/
                  Robert D’Loren

              
	 	 	
                Name:  
                  Robert D’Loren

              
	 	 	
                Title:    
                  President
                  and Chief Executive Officer

              
	 	 	 
	 	GREAT
                AMERICAN COOKIE COMPANY FRANCHISING, LLC,
	 	a
                Delaware limited liability company
	 	 	 
	
                 

              	By:	
                /s/
                  Michael Ward

              
	 	 	
                Name:  
                  Michael
                  Ward

              
	 	 	
                Title:    
                  Executive
                  Vice President

              
	 	 	 
	 	MRS.
                FIELDS FAMOUS BRANDS, LLC,
	 	a
                Delaware limited liability company
	 	 	 
	
                 

              	
                By:

              	
                /s/
                  Michael Ward

              
	 	 	
                Name:  
                  Michael
                  Ward

              
	 	 	
                Title:    
                  Executive
                  Vice President

              
	 	 	 
	 	MRS.
                FIELDS' ORIGINAL COOKIES, INC.,
	 	a
                Delaware corporation
	 	 	 
	
                 

              	
                By:

              	
                /s/
                  Michael Ward

              
	 	 	
                Name:  
                  Michael
                  Ward

              
	 	 	
                Title:    
                  Executive
                  Vice President

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	BATCHES
                OF COOKIES, INC.
	 	 	 
	 	By:	/s/
                Jeffery Bryan
	 	 	Name:   Jeffery
                Bryan
	 	 	Title:     President

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	D&J
                ALL CORPORATION
	 	 	 
	 	By:	/s/
                Richard Allen
	 	 	Name:   Richard
                Allen
	 	 	Title:     President

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	DPD
                COOKIES OF ORLANDO, INC.
	 	 	 
	 	By:	/s/
                David P. Duvall
	 	 	Name:  
                David P. Duvall
	 	 	Title:     President

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                WOLFTEAM
                  LLC

              
	 	 	 
	 	By:	/s/
                Sean Faulk
	 	 	Name:  
                Sean Faulk
	 	 	Title:    
                Owner

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	GILREATH
                ENTERPRISES, INC.
	 	 	 
	 	By:	/s/
                Scott Gilreath
	 	 	Name:  
                Scott Gilreath
	 	 	Title:     Owner/President

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	HALLIE
                COOKIE CO., INC.
	 	 	 
	 	By:	/s/
                Robert Mulliniks
	 	 	Name:  
                Robert Mulliniks
	 	 	Title:    
                V.P.

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	JERMAN
                COOKIE CO., LP
	 	 	 
	 	By:	/s/
                J.L. Jerman II
	 	 	Name:  
                J.L. Jerman II
	 	 	Title:     CEO

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	J-TEAM,
                INC.
	 	 	 
	 	By:	/s/
                D. Craig Jones
	 	 	Name:   D.
                Craig Jones
	 	 	
                Title:    
                  President

              
	 	 	 
	 	By:	/s/
                Kathy R. Jones
	 	 	Name:  
                Kathy R. Jones
	 	 	Title:    
                Partner

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                J-TEAM
                  AND RUPPS (GENERAL
PARTNERSHIP)

              
	 	 	 
	 	By:	/s/
                D. Craig Jones
	 	 	
                Name:  
                  D. Craig Jones

              
	 	 	Title:    
                President
	 	 	 
	
                 

              	
                By:

              	/s/
                Kathy R. Jones
	 	 	Name:  
                Kathy R. Jones
	 	 	Title:    
                Partner
	 	 	 
	 	By:	/s/
                Chad A. Rupp
	 	 	Name:   Chad
                A. Rupp
	 	 	Title:    
                Partner
	 	 	 
	 	By:	/s/
                Amy J. Rupp
	 	 	Name:   Amy
                J. Rupp
	 	 	Title:    
                Partner

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	 	/s/
                Ken Miller
	 	 	KEN
                MILLER
	 	 	 
	 	 	/s/
                Nancy Miller
	 	 	NANCY
                MILLER

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	THE
                COOKIE PLACE, INC.
	 	 	 
	 	By:	/s/
                Jeff Pizitz
	 	 	
                Name:   Jeff
                  Pizitz

              
	 	 	Title:    
                President

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	TEXAS
                STAR COOKIE CO LLC
	 	 
	 	By:	/s/
                Walter Wayne Woods
	 	 	Name:   Texas
                Star Cookie Co. LLC
	 	 	Title:     Owner/Franchisee

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	GARMON
                ENTERPRISES II, INC.
	 	 
	 	By:	
                /s/Paul
                  A. Montalvo Jr.

              
	 	 	Name:  
                Paul A. Montalvo Jr.
	 	 	Title:    
                President

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	COOKIE
                BAKER PARTNERS, LP
	 	 	 
	 	By:	/s/
                Herbert W. Perlich
	 	 	Name:   Herbert
                W. Perlich
	 	 	Title:    
                Franchisees
	 	 	 
	 	By:	/s/
                Barbara A. Perlich
	 	 	Name:  
                Barbara A. Perlich
	 	 	Title:     Franchisees

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	SAC
                ENTREPRENEURS PARTNERS LTD.
	 	 	 
	 	By:	/s/
                Brian Selden
	 	 	Name:  
                Brian Selden
	 	 	Title:     General
                Partner

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	DOUGH
                ROLLERS TOO, LLC
	 	 	 
	 	By:	/s/
                Jeremy Roy
	 	 	Name:  
                Jeremy Roy
	 	 	Title:    
                President

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	DOUGH
                ROLLERS, LTD.
	 	 	 
	 	By:	/s/
                Brian Selden
	 	 	
                Name:  
                  Brian Selden

              
	 	 	Title:    
                General Partner

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	BATTER
                UP, LLC
	 	 	 
	 	By:	/s/
                Brian Selden
	 	 	Name:  
                Brian Selden
	 	 	Title:     V.P.

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	ROLLING
                IN DOUGH COOKIE CO.
	 	 	 
	 	By:	/s/
                Katherine Shell
	 	 	Name:   Katherine
                Shell
	 	 	Title:    
                Vice President

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	HEM
                CHELA CORP.
	 	 	 
	 	By:	/s/
                Bachu Solanki
	 	 	Name:   Bachu
                Salanki
	 	 	Title:    
                President
	 	 	 
	 	By:	/s/
                Geeta Solanki
	 	 	Name:  
                Geeta Salanki
	 	 	Title:     V.P.

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	MUBARAK
                INVESTMENTS CORP.
	 	 	 
	 	By:	/s/
                Sonney Daharani
	 	 	Name:  
                S. Daharani
	 	 	Title:    
                President

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	BARAKAH,
                INC.
	 	 	 
	 	By:	/s/
                Sonney Daharani
	 	 	Name:  
                S. Daharani
	 	 	Title:    
                President

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                CACTUS
                  COOKIES, INC.

              
	 	 	 
	 	By:	/s/
                Michael J. Solomon
	 	 	Name:  
                Michael J. Solomon
	 	 	Title:    
                President

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                WILLS
                  COOKIE STORES LTD.

              
	 	 	 
	 	By:	/s/
                J. M. Wills
	 	 	Name:
	 	 	Title:    
                President

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	 	
                COOKIE
                  ASSOCIATES, LTD.

              
	 	 	 
	 	By:	Doc
                & Associates, Ltd., its General Partner
	 	 	 
	 	By: 	LJC
                Management, Inc., its General Partner
	 	 	 
	 	By: 	/s/
                Lawrence J. Cohen
	 	 	Name:  
                Lawrence J. Cohen
	 	 	Title:    
                President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00135-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00135-of-00352.parquet"}]]