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Exhibit 10.21    
    

 
 

ASSIGNMENT AND ASSUMPTION OF LEASE    
    

        This ASSIGNMENT AND ASSUMPTION OF LEASE (the "Assignment") is made and entered into this 16th day of March, 2004
(the "Effective Date"), by and between MRS. FIELDS' ORIGINAL COOKIES, INC., a Delaware corporation
("Assignor"), and MRS. FIELDS' FAMOUS BRANDS, LLC, a Delaware limited liability company ("Assignee"). 

WITNESSETH:  

        WHEREAS, Assignor is the tenant under that certain Lease Agreement, dated January 19, 1998, and exhibits and addenda thereto, as subsequently amended by
that certain Lease Addendum No. 1, dated June 4, 1998; and that certain Lease Addendum No. 2, dated October 19, 2000 (collectively, the
"Lease") wherein 2855 E. COTTONWOOD PARKWAY, L.C., a Utah limited liability company, as "Landlord",
leased to Assignor certain improved real property located in Salt Lake City, Salt Lake County, Utah, and described as 2855 East Cottonwood Parkway, Building No. 11, Suites 350, 360, 370, and
400 (the "Leased Premises"). Capitalized terms used in this Assignment and not otherwise defined in this Assignment shall have the meanings given to
such terms in the Lease; 

        WHEREAS,
Assignee is a subsidiary of Assignor; 

        WHEREAS,
Assignor now desires to assign the Lease, together with all of Assignor's right, title and interest therein, to Assignee upon the terms and conditions hereinafter more
particularly set forth; 

        NOW
THEREFORE, for and in consideration of the sum of Ten and No/100 Dollars ($10.00) and for other good and valuable considerations, the sufficiency of which is hereby expressly
acknowledged, Assignor and Assignee hereby agree as follows: 

        1.     Assignor
hereby assigns, transfers and conveys to Assignee all of Assignor's right, title and interest in and to the Lease, subject to all the obligations and burdens of
Assignor thereunder and all of the benefits and rights relating thereto. Assignee hereby acknowledges that as of the Effective Date, it will assume and agree to be bound by the provisions of the Lease
and will undertake and assume each and every one of Assignor's obligations thereunder, all with the same force and effect as if the Assignee were the original lessee under the Lease. Assignee
acknowledges that it has reviewed the Lease and fully understands the obligations set forth therein on its part to be performed as "Tenant". Assignee adopts the Lease and Assignee shall be jointly and
severally liable with Assignor for such obligations. Assignee shall not commit or suffer any act or omission that will violate or constitute a default under any of the provisions of the Lease. 

        2.     Assignor
hereby expressly covenants and agrees that, notwithstanding the assignment of the Lease, Assignor shall continue and remain liable to Landlord under the Lease
for the performance of all obligations, covenants and conditions of the Lease to be performed by Assignor thereunder through the Term of the Lease. Assignor hereby covenants and agrees that its
obligations arising from the Lease, shall remain in full force and effect without regard to, and the respective obligations of the Assignor shall not be affected or impaired by (i) any
bankruptcy, insolvency, reorganization or similar proceeding involving or affecting Assignee; (ii) any exercise or non-exercise by Landlord of any right, remedy, power or privilege
in respect to the Lease; (iii) any invalidity or unenforceability of, or any irregularity or other defect in the Lease or this Assignment; (iv) any other circumstances whatsoever.
Assignor hereby agrees that it may be joined in any action or proceeding commenced by Landlord against Assignee in connection with or based upon any obligation of "Tenant" arising under the Lease and
that recovery may be had against Assignor in any such action or proceeding without any requirement that Landlord first assert, prosecute and exhaust any remedy or claim against Assignee. 

        3.     Assignee
hereby agrees to use and occupy the Leased Premises solely for the purposes specified in Section 4 of the Lease and otherwise in strict accordance with
the Lease;

 

        4.     All
of the other terms, covenants and conditions of the Lease not herein expressly modified are hereby confirmed and ratified and shall remain in full force and effect. 

        5.     All
of the terms, provisions, conditions and covenants of the Lease shall be binding upon, and shall inure to the benefit of the parties hereto, their respective heirs,
representatives, successors and assigns. 

        IN
WITNESS WHEREOF, this Assignment has been executed and delivered by the undersigned as of the date first above written. 

	

 	
 	
ASSIGNOR:
	

 	
 	

MRS. FIELDS' ORIGINAL COOKIES, INC.,

a Delaware corporation
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      

	

 	
 	

Printed Name:	
 	

Michael Ward

	

 	
 	

Title:	
 	

Sr. Vice President

	

 	
 	

 	
 	

 
	

 	
 	
ASSIGNEE:
	

 	
 	

MRS. FIELDS' FAMOUS BRANDS, LLC,

a Delaware limited liability company
	

 	
 	

By:	
 	

/s/  SANDRA BUFFA      

	

 	
 	

Printed Name:	
 	

Sandra Buffa

	

 	
 	

Title:	
 	

Sr. Vice President

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Exhibit 10.21

ASSIGNMENT AND ASSUMPTION OF LEASEQuickLinks
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Exhibit 10.22    
    

CONFORMED COPY  

 
  SUBLEASE    
    

        This SUBLEASE, dated as of March 16, 2004 (the "Effective Date"), is made between MRS. FIELDS' FAMOUS
BRANDS, LLC, a Delaware limited liability company ("Sublessor"), and MRS. FIELDS' ORIGINAL COOKIES, INC., a Delaware corporation
("Sublessee"). 

RECITALS:  

        A.    Sublessor
is a subsidiary of Sublessee. 

        B.    Sublessee
was the tenant under that certain Lease Agreement, dated January 19, 1998, and exhibits and addenda thereto, as subsequently amended by that certain
Lease Addendum No. 1, dated June 4, 1998; and that certain Lease Addendum No. 2, dated October 19, 2000 (collectively, the "Lease
Agreement") wherein 2855 E. COTTONWOOD PARKWAY, L.C., a Utah limited liability company ("Lessor"), leased to Sublessor certain
improved real property located in Salt Lake City, Salt Lake County, Utah, and described as 2855 East Cottonwood Parkway, Building No. 11, Suites 350, 360, 370, and 400 (the
"Master Premises"). The Lease Agreement, which includes the exhibits and addenda referred to in the Lease Agreement, constitutes the
"Master Lease". Capitalized terms used in this Sublease and not otherwise defined in this Sublease shall have the meanings given to such terms in the
Master Lease. 

        C.    That
portion of the Master Premises known as Suite 370, consisting of approximately 5,044 square feet of Rentable Area (4,386 useable square feet), is subleased by
Sublessee to GREENPOINT MORTGAGE FUNDING, INC. under that Sublease dated February 27, 2004 ("Greenpoint Premises"). 

        D.    The
Master Premises less the Greenpoint Premises, together with the "Common Areas", is referred to in this Sublease as the "Subject
Premises". The Subject Premises, as shown on Exhibit "A", consists of approximately 31,348 square feet of Rentable Area and 28,687 of useable square feet. 

        E.    Sublesee
assigned the Master Lease to Sublessor under that certain Assignment Agreement between Mrs. Fields Original Cookies, Inc. and Mrs. Fields
Famous Brands, LLC dated March 16, 2004. 

        F.     Sublessee
desires to lease from Sublessor, and Sublessor desires to lease to Sublessee, a portion of the Master Premises on the terms, conditions, and provisions
hereinafter set forth. 

        NOW,
THEREFORE, in consideration of the covenants and agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
Sublessor and Sublessee hereby agree as follows: 

        1.    SUBLEASED PREMISES.  Sublessor hereby subleases to Sublessee portions of the Subject Premises on the terms and
conditions set forth in this Sublease (the "Subleased Premises"). The Subleased Premises comprises approximately thirty-four percent (34%)
of Rentable Area of the Subject Premises. That portion of the Subject Premises not included in the Subleased Premises, together with the "Common Areas", is referred to in this Sublease as the
"Retained Premises". The Retained Premises comprises approximately sixty-six percent (66%) of Rentable Area of the Subject Premises. 

        2.    TERM; ENTRY; SUBLESSOR'S AND SUBLESSEE'S WORK ON SUBLEASED PREMISES.  The
"Term" of this Sublease shall commence on [March 16, 2004] (the "Commencement
Date") and shall end on date of termination of that certain Management Agreement between the parties dated March 16, 2004 or such other date as officers of Sublessor
shall determine (the "Termination Date"), unless otherwise sooner terminated in accordance with the provisions of this Sublease. Sublessee shall have
the right to enter upon the Subleased Premises from and after the full and complete execution and delivery of this Sublease.

 

        By
the execution hereof, Sublessor and Sublessee acknowledge and agree that both Sublessor and Sublessee shall have no obligation or liability for the alteration, remediation,
modification, repair, and/or improvement of the Subleased Premises under the Master Lease, by reason of this Sublease or otherwise, including without limitation in connection with any work required
under the Master Lease or in connection with any future occupant of all or any part of the Subleased Premises. 

        3.    RENT AND ADDITIONAL RENT.  

        A.    Rent.  For the use of the Subleased Premises hereunder, Sublessee agrees that: 

        (a)   Sublessee
shall pay to Sublessor as monthly rent, without deduction, setoff, notice, or demand (except as specifically provided for in this Sublease), in the manner set
forth below, the following amounts: 

          (i)  For
the period beginning on the Commencement Date through December 31, 2004 (the "Initial Period"),
thirty-four percent of the Base Rent, payable monthly on the first (1st) day of each month in advance. 

         (ii)  For
each fiscal year following the Initial Period until the Termination Date, the Sublessee's percentage share of Base Rent as adjusted consistent with the provision of
Schedule A of the Management Agreement dated March 16, 2004 ("Management Agreement"). Such Base Rent amount shall be payable monthly on
the first (1st) day of each month in advance. 

        B.    Additional Rent/Operating Expenses/Other Payment Obligations.  In addition to Base Rent payable pursuant to
Paragraph 3.A, Sublessee shall pay to Sublessor on the date due pursuant to the terms and provisions of the Master Lease, without deduction, setoff, notice, or demand (except as specifically
provided for in this Sublease), in the manner set forth below, the following amounts: 

        (a)   During
the Initial Period, thirty-four percent of any and all increases payable pursuant to the provisions of the Master Lease by Sublessor with respect to
the Subject Premises for Additional Rent and/or Operating Expenses, to the extent such payment obligations of Sublessor under the Master Lease increase from time to time beyond the rates and amounts
payable by Sublessor pursuant to the provisions of the Master Lease, using 2004 as the Base Year for purposes of Sublessor's obligations. After the Initial Period, the percentage of Sublessee's share
shall be adjusted at the beginning of each fiscal year consistent with the provision of the Management Agreement. 

        (b)   During
the Initial Period, thirty-four percent of any amounts payable pursuant to the provisions of the Master Lease for additional services or utilities
provided to the Subject Premises and all other incremental expenses directly or indirectly resulting from Sublessee's use of the Subleased Premises, including without limitation charges for after
hours electricity and HVAC and/or other excess utility usage and all janitorial services, for which separate charge or expense is payable pursuant to the provisions of the Master Lease. After the
Initial Period, the percentage of Sublessee's share shall be adjusted at the beginning of each fiscal year consistent with the provision of the Management Agreement. 

        (c)   It
is the intention and purpose of the parties to create by this Sublease a sublease of the kind commonly known as "carefree" to Sublessor. Accordingly, Sublessee shall
bear, pay for, and discharge not only such items as are specifically agreed by the provisions of this Sublease to be borne, paid for, and discharged by Sublessee, but also its share of all other
costs, charges, and expenses, which Sublessor has not specifically agreed to bear, of every kind and description whatsoever which must be borne, paid for, and discharged in connection with the
Subleased Premises pursuant to the provisions of the Master Lease, subject to the express limitations of this Sublease.

 

        C.    Payment.  Sublessee shall pay directly to Sublessor its share of Base Rent and Additional Rent. Sublessor
shall forward such amount, together with Sublessor's share of Base Rent and additional Rents, to the Lessor pursuant to the applicable payment terms and provisions set forth in the Master Lease. 

        All
rent shall be paid in advance on the first day of each month of the Term. If the Term begins or ends on a day other than the first or last day of a month, the rent for the partial
months shall be prorated on a per diem basis, based on a 30-day month, for actual days elapsed. 

        4.    USE OF SUBLEASED PREMISES.  Sublessor and Sublessee agree as follows: 

        (a)   The
Subleased Premises shall be used and occupied solely for lawful, general business office purposes, in strict compliance with the "Building Rules and Regulations," as
defined in the Master Lease, from time to time in effect, and for no other use or purpose (the "Use"). Continuously throughout the Term, Sublessee shall
occupy and utilize, consistent with customary business practices, the Subleased Premises for purposes of the Use. 

        (b)   Sublessee
shall, at Sublessee's sole cost and expense, comply with all laws, ordinances, regulations or orders of any federal, state, county or municipal or other public
authority applicable to Sublessee or affecting the Subleased Premises and the Common Areas, including but not limited to occupational health and safety, hazardous waste and substances, sudden or
non-sudden pollution and environmental matters, in connection with the Use. 

        (c)   Sublessee
will not commit any waste on the Subleased Premises, nor permit any obnoxious odors or noise to emanate from the Subleased Premises, nor shall it use or permit
the use of the Subleased Premises in violation of any present or future law of the United States or of the State of Utah, or in violation of any municipal or county ordinance or regulation applicable
thereto. Sublessee shall promptly notify Lessor and Sublessor of Sublessee's receipt of any notice of a violation of any such law, standard or regulations. 

        5.    ASSIGNMENT AND SUBLETTING.  Sublessee shall not assign this Sublease or sublet all or any part of the
Subleased Premises without the prior written consent of Sublessor (and the consent of Lessor, if such is required under the terms of the Master Lease), which consent, subject to and in accordance with
the terms and conditions of Paragraph 10 of the Master Lease, may be withheld, in Sublessor's and/or Lessor's sole discretion; provided that, in the event of any request for such assignment or
sublease, Sublessor may, in lieu of any such consent, terminate this Sublease as to that part or all of the Subleased Premises proposed to be assigned or subleased; provided further that Sublessee
shall not be released from its obligations under this Sublease in the event of any such assignment or sublease. 

        6.    CASUALTY AND CONDEMNATION.  If there is a Taking within the coverage of Section 14 of the Master Lease
or any casualty loss within the coverage of Section 15 of the Master Lease, which in either case affects the Subleased Premises and, as a result of such Taking or casualty loss, the "Tenant"
under the Master Lease has the option to terminate the Master Lease, Sublessee shall have the right to terminate this Sublease upon written notice to Sublessor given not more than thirty
(30) days after the date of the "Taking" as defined in Section 14 of the Master Lease or the casualty pursuant to Section 15 of the Master Lease, as the case may be. Such
termination, if elected by Sublessee, shall be effective thirty (30) days after such notice to Sublessor. In no event will Sublessor agree to, or exercise any right to, terminate the Master
Lease under either Section 14 or Section 15 of the Master Lease without the prior written consent of Sublessee, in Sublessee's sole and absolute discretion, unless Sublessee has first
exercised the right granted in this Paragraph 6 to terminate the Sublease.

 

        7.    ADDITIONAL COVENANTS AND AGREEMENTS.  In addition, Sublessor and Sublessee covenant and agree as follows: 

        (a)   Except
as and to the extent by reason of Sublessor's failure to fully utilize the Subject Premises, in whole or in part, Sublessor shall remain liable for all of the
obligations of the lessee under the Master
Lease. Sublessor shall timely pay and perform all of the "Payment Obligations" (defined below). Sublessor shall timely perform all of the terms and conditions of the Master Lease as they relate to the
Subject Premises. As used in this Sublease, the term "Payment Obligations" refers to the obligations of Sublessor under Section 5 of the Master Lease. 

        (b)   Except
as may be otherwise required under the Master Lease, Sublessor agrees, upon reasonable, advance written request of Sublessee specifying the particulars thereof,
to enforce the terms of the Master Lease to the extent reasonably necessary to cause Lessor to perform its obligations under the Master Lease, as they relate to the Subleased Premises, for the benefit
of Sublessee. 

        (c)   If
there are inconsistencies in the terms of this Sublease and the terms of the Master Lease, as between Sublessor and Sublessee, the terms of this Sublease shall
control. 

        (d)   To
the extent that the Master Lease grants rights and benefits to the "Tenant" under the Master Lease, Sublessee may exercise, enforce, and enjoy all such rights as they
relate to the Subleased Premises independent of, and without any consent or approval from, Sublessor; provided that any such exercise shall not adversely affect any other right, election, or use of
Lessor under the Master Lease or interest in the Master Premises. 

        (e)   Other
than the Payment Obligations, Sublessee assumes and agrees to perform the lessee's obligations under the Master Lease during the Term, to the extent that such
obligations are applicable to the Subleased Premises. Sublessee adopts the Master Lease and Sublessee shall be jointly and severally liable with Sublessor for such obligations. Sublessee shall not
commit or suffer any act or omission that will violate or constitute a default under any of the provisions of the Master Lease. 

        (f)    Other
than the Payment Obligations, Sublessee assumes and agrees to perform the lessee's obligations under the Master Lease during the Term, to the extent that such
obligations are applicable to the Subleased Premises. Sublessee adopts the Master Lease and Sublessee shall be jointly and severally liable with Sublessor for such obligations. Sublessee shall not
commit or suffer any act or omission that will violate or constitute a default under any of the provisions of the Master Lease. 

        (g)   Conditioned
only upon compliance by Sublessee with the terms and conditions of this Sublease, Sublessor covenants that Sublessee shall have quiet and peaceful possession
of the Subleased Premises throughout the Term, without, except as and to the extent of any rights of Lessor under the Master Lease, interference from Sublessor or anyone acting by, through or under
Sublessor. 

        (h)   If
the Master Lease terminates, this Sublease shall terminate and the parties shall be relieved of any further liability or obligation under this Sublease. 

        8.    "AS IS" SUBLEASE.  By the execution hereof, except for the Sublessor's Work set forth in Paragraph 4
hereof, Sublessee acknowledges and accepts the Subject Property in "AS IS/WHERE IS, WITH ALL FAULTS" condition, without any warranties, express or
implied, or any obligation of any kind or nature on the part of Sublessor to repair, improve, alter, or modify the Subject Property or any part thereof. Neither Lessor nor Sublessor makes any
representations or warranties of any kind, express or implied, other than those set forth herein, that the Subject Property is fit for a particular purpose, including without limitation the Limited
Use.

 

        9.    CONSTRUCTION OF SUBLEASE; FURTHER UNDERSTANDINGS.  Sublessor and Sublessee, in furtherance of this Sublease,
acknowledge and agree that: 

        (a)   Words
of any gender used in this Sublease shall be held to include any other gender, and words in the singular number shall be held to include the plural when the sense
requires. Interpretation, construction and performance of this Sublease shall be governed by the laws of Utah. 

        (b)   The
paragraph headings as to the contents of particular paragraphs herein are inserted only for convenience and are in no way to be construed as part of such paragraph
or as a limitation on the scope of the particular paragraph to which they refer. 

        (c)   The
covenants and agreements contained in the within Sublease shall apply to, inure to the benefit of, and be binding upon the parties hereto and upon their respective
successors in interest and legal representatives. 

        (d)   Other
than the Payment Obligations, Sublessee assumes and agrees to perform the obligations of Sublessor, as lessee, under the Master Lease during the Term, to the
extent that such obligations are applicable to the Subleased Premises and the Common Areas to the extent such Common Areas are attributable to the Subleased Premises; provided that Sublessee is not
assuming any of the obligations that Sublessor may have under the Master Lease, except as and to the extent specifically provided in this Sublease. 

        (e)   Except
as and to the extent otherwise specified in this Sublease, this Sublease is not intended and shall not be deemed to amend, modify, terminate or relinquish any
other right or obligation of Sublessor or Lessor under the Master Lease. 

        (f)    This
Sublease sets forth all terms, covenants, conditions, agreements, and understandings between Sublessor and Sublessee concerning the Subleased Premises or the
Building, and Sublessor shall have no liability to Sublessee for any representations, warranties or covenants made in respect of the Building by any other person or entity, including without
limitation Lessor. No subsequent modification, amendment, or change in this Sublease shall be binding unless reduced to writing and signed by Sublessor and Sublessee. There are no representations or
warranties between the parties pertaining to this Sublease, except as expressly set forth herein.

 

        IN
WITNESS WHEREOF, this Sublease has been executed and delivered by the undersigned as of the date first above written. 

	 	 	SUBLESSOR:
	

 	
 	

MRS. FIELDS' FAMOUS BRANDS, LLC,

a Delaware limited liability company
	

 	
 	

By:	
 	

/s/  SANDRA BUFFA      

	 	 	Printed Name: Sandra Buffa
	 	 	Title: Sr. Vice President/CFO
	

 	
 	

Dated this 16th day of March, 2004.
	

 	
 	
SUBLESSEE:
	

 	
 	

MRS. FIELDS' ORIGINAL COOKIES, INC.,

a Delaware corporation,
	

 	
 	

By:	
 	

/s/  MICHAEL WARD      

	 	 	Printed Name: Michael Ward
	 	 	Title: Sr. Vice President/General Counsel
	

 	
 	

Dated this 16th day of March, 2004.

 
 

EXHIBIT "A"    
    
    (Subject Premises)    

        

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Exhibit 10.22

SUBLEASE

EXHIBIT "A" (Subject Premises)

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