Document:

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                                                                   EXHIBIT 10.20

* Certain information in this document has been omitted and filed separately
with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. The omitted portions are
indicated by [****].

                                                                  EXECUTION COPY

                                Co-PACK AGREEMENT

                                     BETWEEN

                         DREYER'S GRAND ICE CREAM, INC.

                                       AND

                             INTEGRATED BRANDS, INC.

                            DATED AS OF JULY 5, 2003

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         THIS CO-PACK AGREEMENT (this "Agreement") dated as of July 5, 2003 is
made by and between Integrated Brands, Inc., a New Jersey corporation
("Integrated Brands"), and Dreyer's Grand Ice Cream, Inc. ("Dreyer's").

         WHEREAS, Dreyer's, New December, Inc., a Delaware corporation, Nestle
Ice Cream Company, LLC, a Delaware limited liability company ("NICC"), and
Integrated Brands have entered into an Amended and Restated Asset Purchase and
Sale Agreement, as amended and restated on June 4, 2003 (the "Asset Sale
Agreement"), pursuant to which, among other things, Integrated Brands shall
purchase and Dreyer's and NICC shall sell, or cause to be sold, subject to the
terms and conditions thereof, the Ice Cream Assets (as defined in the Asset Sale
Agreement) and the Distribution Assets (as defined in the Asset Sale Agreement);
and

         WHEREAS, in connection with the Asset Sale Agreement, Integrated Brands
desires that Dreyer's produce and sell to Integrated Brands, and Dreyer's is
willing to produce and sell to Integrated Brands, certain Products (as defined
below) during the period set forth herein following the closing of the
transactions contemplated by the Asset Sale Agreement; and

         WHEREAS, as an essential part of the transactions contemplated by the
Asset Sale Agreement, Dreyer's has agreed to produce and sell to Integrated
Brands such Products, on the terms and subject to the conditions hereof.

         NOW, THEREFORE, in consideration of the foregoing recitals and the
mutual covenants and agreements contained in this Agreement, and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto, intending to be legally bound, agree as
follows:

1.       DEFINITIONS.

         a.       Month. The term "Month" shall mean each fiscal month of
Dreyer's (4 or 5 weeks). Dreyer's shall provide to Integrated Brands
a schedule of its Months for the term of this Agreement.

         b.       Products. The term "Products" shall have the meaning set forth
in the Asset Sale Agreement.

         c.       Specifications. The term "Specifications" shall mean the
formulas, ingredient and packaging specifications and the direction sheets for
the manufacture of the Products provided to Dreyer's by Integrated Brands as
Integrated Brands may amend the same from time to time in its sole discretion.

         d.       Trademarks. The term "Trademarks" shall mean the trademarks,
trade names and logos used in connection with the Products, together with any
and all designs, trade dress, copyrights, goodwill or other intellectual
property associated therewith.

2.       GRANT OF MANUFACTURING RIGHT.

         a.       Requirements. Upon the terms and conditions set forth in this
Agreement, Integrated Brands grants to Dreyer's, and Dreyer's hereby accepts,
the non-exclusive right and obli-

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gation to manufacture Integrated Brands' requirements for the Products, as such
requirements shall be evidenced by Integrated Brands' orders for the Products
submitted to Dreyer's.

         b.       Quantity. Integrated Brands shall have the option to procure
some or all of its requirements for the Products from Dreyer's in Integrated
Brands' discretion.

         c.       Reservation. No right other than that expressly contained
herein is hereby granted to Dreyer's. Integrated Brands expressly reserves to
itself the right to manufacture the Products and any other products itself and
to enter into agreements to manufacture the Products and any other products with
other third-party manufacturers in its absolute discretion.

         d.       Limitation. Dreyer's shall manufacture the Products solely for
the account of Integrated Brands. Dreyer's is expressly prohibited from
manufacturing any Products for its own account or for the account of any third
party.

         e.       Plant Location. Dreyer's shall manufacture the Products at
Dreyer's plants located at Union City, California, City of Commerce, California,
Tulane, California, Bakersfield, California, Fort Wayne, Indiana and Houston,
Texas (the "Plants").

         f.       Specifications. Dreyer's shall manufacture the Products solely
in accordance with the Specifications and this Agreement. Dreyer's shall in no
event use the Specifications for any purpose other than to manufacture the
Products for Integrated Brands in accordance with this Agreement.

         g.       Packaging. Dreyer's shall package the Products solely using
the appropriate packaging materials as directed by Integrated Brands expressly
for use in connection with the Products; [****]. Dreyer's shall in no event
package any products except the Products using any packaging materials provided
by Integrated Brands for use in connection with the Products.

         h.       Title; Risk of Loss. Title to Product shall pass to Integrated
Brands upon completion of the manufacturing process. Dreyer's assumes all risk
of loss for the Products until such Products are delivered to a Customer or
Integrated Brands.

3.       PRICING.

         a.       Formula Pricing. Subject to this Agreement, Dreyer's shall
produce finished goods Products and sell the same to Integrated Brands, and
Integrated Brands shall purchase said finished goods Products from Dreyer's, for
the Total Price (as defined below) for each Product. The term "Total Price"
shall mean, with respect to all Products produced hereunder, an amount equal to
[****] (the "Processing Fee"). The Total Price shall be Dreyer's only charge to
Integrated Brands for any goods or services provided hereunder.

         b.       Processing Fee. The Processing Fee [****] (as defined below).

         c.       Material Cost. The term "Material Cost" shall mean the [****]
costs paid by Dreyer's for the ingredients and packaging, [****]. The Material
Cost will be calculated [****]. At the end of [****], Dreyer's shall provide to
Integrated Brands a list of Material Cost for each

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Product for the previous Month and this Material Cost will be used to calculate
the total cost of Product for the following Month; [****].

4.       SPECIAL COMPONENTS.

         Dreyer's shall purchase all of its requirements for ingredients and
packaging identified in the Specifications as unique ingredients ("Special
Components") for use in connection with the Products exclusively from Integrated
Brands or Integrated Brands' designated source (a "Designated Source");
provided, however, that to the extent that Dreyer's has a purchase order
commitment for a Special Component that existed as of the Closing Date (as
defined in the Asset Sale Agreement) and which relates to the Specifications for
a Product as of the Closing Date, then Dreyer's will be entitled to continue to
purchase such Special Component under such purchase order commitment. Dreyer's
shall in no event substitute any other ingredient or packaging material for any
Special Component in the manufacture of the Products, without the prior written
approval of Integrated Brands.

5.       FORECASTS, INVENTORY AND SHIPMENT.

         a.       Forecasts. Integrated Brands shall provide Dreyer's with
[****] forecasts detailing its anticipated requirements for the Products by SKU
(as defined in the Asset Sale Agreement), and shall update such forecasts on an
ongoing basis to reflect Integrated Brands' then anticipated requirements.
Dreyer's shall order Special Components and schedule production of finished
goods Products on the basis of such forecasts and updated forecasts, taking into
account reasonable and customary minimum run considerations.

         b.       Inventory. Dreyer's shall build, maintain, handle and store
inventories of ingredients, packaging and finished goods Products at levels
adequate to meet Integrated Brands' updated, forecasted requirements for the
Products.

         c.       Shipment. Dreyer's shall arrange and schedule transportation
for all shipments of finished goods Products per the terms of the applicable
distribution agreement between the parties.

6.       PAYMENT TERMS.

         a.       Dreyer's. Dreyer's shall make payment to Integrated Brands for
all ingredients and packaging purchased from Integrated Brands hereunder within
[****] following the date of invoice. Invoices shall be dated as of the date of
shipment to Dreyer's and shall be rendered within [****] following such
shipment.

         b.       Integrated Brands. Integrated Brands shall make payment to
Dreyer's for all finished goods Products purchased from Dreyer's hereunder
within [****] following the date of invoice. Invoices shall be dated as of the
date of shipment to Integrated Brands or a third party designated by Integrated
Brands and shall be rendered within [****] following such shipment.

         c.       Disputes. If either Integrated Brands or Dreyer's objects in
writing to amounts payable to the other party under Sections 6.a, 6.b, and 6.c
above and if the parties are unable to resolve their dispute within ten (10)
days following Dreyer's receipt of Integrated Brands' writ-

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ten objection or Integrated Brands' receipt of Dreyer's written objection, the
parties shall refer their remaining differences to a nationally-recognized
public accounting firm (the "CPA Firm") for decision, which decision shall be
made consistent with this Agreement within thirty (30) days and shall be final
and binding on the parties; provided that the CPA Firm's determination as to any
item set forth in Integrated Brands' objection shall not be more beneficial to
Dreyer's than the determination of that item by Dreyer's in its written
objection or more beneficial to Integrated Brands than the determination of that
item in its written objection. Any expenses relating to the engagement of the
CPA Firm shall be shared equally by Integrated Brands and Dreyer's.

7.       TRADEMARKS.

         a.       Acknowledgment. Dreyer's acknowledges that no right or license
(or sublicense) of any kind or nature, express or implied, is hereby granted in
or to the Trademarks or any intellectual property associated with the Products
(including the Specifications), and that all rights in and to the Trademarks and
the Specifications and the goodwill pertaining thereto belong exclusively to
Integrated Brands; provided, however, that Dreyer's shall have the rights to use
the "Whole Fruit" name as expressly provided in Section 7.9 of the Asset Sale
Agreement.

         b.       Covenant. Dreyer's agrees that it shall not, during the term
of this Agreement or thereafter, make any unauthorized use of any Trademark or
the Specifications or adopt or use as its own, a trademark the same or similar
to any Trademark or perform any material act or omission adverse to Integrated
Brands' rights in the Trademarks and the Specifications; provided, however, that
Dreyer's shall have the rights to use the "Whole Fruit" name as expressly
provided in Section 7.9 of the Asset Sale Agreement.

8.       QUALITY CONTROL.

         a.       Quality Standards. So that the identity of the Trademarks may
be preserved and the consumer assured of the Products' uniformity, Dreyer's
agrees that all Products shall be manufactured, packaged and handled by Dreyer's
in strict conformity with the Specifications and other quality control and
product safety standards, policies and procedures reasonably established by
Integrated Brands from time to time during the Term (as defined below) of this
Agreement and consistent with Dreyer's manufacturing practices for its own
products.

         b.       Compliance with Regulations. Dreyer's agrees that the Products
will be manufactured in compliance with, and will not be adulterated or
misbranded within the meaning of, the Federal Food, Drug and Cosmetic Act of
1938, or any other federal, state, foreign or local laws or regulations
applicable thereto, will not constitute an article that may not be introduced
into interstate commerce and will be manufactured in substantial compliance with
all applicable federal, state, foreign or local laws and regulations applicable
thereto. Unless Integrated Brands otherwise agrees in writing, Dreyer's will
destroy all inventories that are not in conformity with Food and Drug
Administration rules and regulations or any applicable federal, state, foreign
and local laws. Dreyer's agrees to notify Integrated Brands promptly of any
regulatory action of which Dreyer's has knowledge that is taken in relation to
it by any federal, state, foreign, county or municipal authority and that
relates to or affects the manufacture, storage, distribution or sale of the
Products.

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         c.       Non-Conforming Products. If at any time, Integrated Brands
reasonably deems the quality of the Products to be below the quality standards
required hereunder, Integrated Brands promptly shall notify Dreyer's in writing
of such determination (a "Quality Notice"). [****].

         d.       Product Recall or Withdrawal. Either Party shall immediately
advise and consult with the other as to any Product recall or withdrawal
considerations; provided that Integrated Brands shall have the absolute right to
recall or withdraw any Product if it determines in its sole discretion that (A)
such Product may be contaminated, (B) the use and/or distribution of such
Product may pose an immediate threat to Integrated Brands' customers, or (C)
such Product otherwise fails to conform to the quality standards required
hereunder. Integrated Brands shall bear the cost of any recall or withdrawal
unless such recall or withdrawal results from Dreyer's manufacture, storage or
handling of the Products or procurement of raw materials used in the manufacture
of the Products pursuant to this Agreement, in which case Dreyer's shall bear
the cost of any recall or withdrawal.

         e.       Inspection Rights. Integrated Brands and its Licensors (as
defined below) and their duly authorized representatives shall have the right,
during normal business hours and upon reasonable prior notice, for the duration
of this Agreement, (A) to inspect all facilities utilized by Dreyer's in
connection with its manufacture, storage or handling of the Products and any raw
materials pursuant hereto and to examine the Products in process of manufacture
and all processes and operations of Dreyer's that could in any way affect the
Products or the raw materials used to manufacture the Products, and (B) to gain
reasonable access to the records of Dreyer's relating to quality control. In
addition, Integrated Brands shall have access at any time with no prior notice
required if it has any reason to believe any health or safety issues may exist.
Integrated Brands also shall have the right, but not the obligation, to maintain
a full-time independent quality control representative at the Plants, at
Integrated Brands' expense, to monitor Dreyer's compliance with the quality
control standards set forth herein.

         f.       Dreyer's Records. Dreyer's shall maintain books and records
necessary for verifying compliance with the terms of this Agreement, including
the results of all federal, state and/or local regulatory agency inspection
reports and sanitation audits affecting Dreyer's facilities or equipment or the
Special Components, Products or other inventories located at Dreyer's
facilities. Dreyer's shall notify Integrated Brands immediately by telephone of
any such inspections or audits which indicate the presence of any
bacteriological agent or substance which is considered by health authorities as
being indicative of either unsanitary practices or of public concern. Dreyer's
shall make all such books and records available to Integrated Brands and its
designated representatives, from time to time, during normal business hours and
upon reasonable prior notice (but immediately in the event of any possible risk
to public safety). Such records shall be maintained by Dreyer's and its
Affiliates (as defined in the Asset Sale Agreement) for a period of 24 months
after termination of this Agreement; provided, however, that such books and
records need not be retained longer than four years following the end of the
year to which such books and records relate. Integrated Brands shall be entitled
to make copies, at its expense, of any such records.

         g.       Consumer Response. Dreyer's shall promptly forward to
Integrated Brands any and all consumer inquiries related to the Products it
receives and shall use its best efforts to co-

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operate with Integrated Brands in the handling of all consumer inquiries and
consumer response issues.

9.       TERM AND TERMINATION.

         a.       Term. The term of this Agreement shall commence on the Closing
Date and shall end twelve (12) months thereafter, unless sooner terminated in
accordance herewith (the "Term").

         b.       Termination by Integrated Brands. Integrated Brands shall have
the right to terminate this Agreement at any time by giving Dreyer's not less
than sixty (60) days' written notice.

         c.       Termination for Breach. Except as otherwise provided in this
Agreement, Integrated Brands shall have the right to terminate this Agreement if
Dreyer's shall be in default of any obligation hereunder by giving the party in
default not less than thirty (30) days' written notice specifying such default
and stating that this Agreement will terminate at the expiration of thirty (30)
days' from receipt of such notice, unless such default is cured within said
thirty (30) day time period. Failure of Integrated Brands to terminate this
Agreement for any such default or breach shall not be determined a waiver of the
right subsequently to do so under the same or any other default or breach,
either of the same or different character.

         d.       Termination for Bankruptcy.

                  i.       Either party may immediately terminate this Agreement
         without any advance notice or opportunity to cure being necessary if
         the other party discontinues its business or voluntarily submits to, or
         is ordered by the bankruptcy court to undergo, liquidation pursuant to
         Chapter 7 of the Bankruptcy Code. In the event this Agreement is so
         terminated by Integrated Brands, Dreyer's, its receivers,
         representatives, trustees, agents, administrators, successors and/or
         assigns shall have no right to sell, exploit or in any way deal with or
         in any of the Products covered by this Agreement, or any carton,
         container, packaging or wrapping material pertaining thereto, except
         with and under the special consent and special instruction of
         Integrated Brands in writing, which they shall be obligated to follow.

                  ii.      Should Dreyer's file a petition in bankruptcy or is
         otherwise adjudicated to be bankrupt or if a petition in bankruptcy is
         filed against Dreyer's and such petition is not dismissed within ninety
         (90) days thereafter, or if an involuntary receiver is appointed for it
         or its business and is not discharged within ninety (90) days
         thereafter, Integrated Brands may immediately terminate this Agreement
         without any advance notice or opportunity to cure being necessary.

         e.       Effect of Termination.

                  i.       Termination of this Agreement shall not release
         either party from any obligation accrued prior to the date of such
         termination or from any obligations continuing beyond the termination
         of this Agreement. Termination of this Agreement for any reason

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         shall be without prejudice to any rights that either party may
         otherwise have against the other.

                  ii.      Upon the expiration or any termination of this
         Agreement, (x) Integrated Brands agrees to buy from Dreyer's, and
         Dreyer's agrees to sell to Integrated Brands, all of Dreyer's inventory
         of good and saleable finished goods Products, at the Total Price for
         such Products, and good and usable Special Components, at the delivered
         price paid by Dreyer's for such Special Components; and (y) Dreyer's
         shall be responsible for and shall destroy all inventory of Products
         and Special Components failing to meet the standards set forth in (x)
         hereinabove. Integrated Brands shall pick up and pay for all Products
         and Special Components bought back from Dreyer's within twenty (20)
         days following the expiration or termination of this Agreement.
         Integrated Brands shall be entitled to access Dreyer's facilities to
         the extent necessary to verify Dreyer's compliance with the provisions
         of this Section 9.e.ii.

10.      AUTHORIZED REPRESENTATIVES.

         Wherever Dreyer's is directed to furnish or supply to or otherwise take
some action or perform some obligation in respect of Integrated Brands in this
Agreement, the term "Integrated Brands" shall be deemed to include "all
Integrated Brands' authorized representatives" unless written advice to the
contrary is received from Integrated Brands.

11.      CONFIDENTIALITY.

         a.       Obligation. Both parties shall keep confidential and shall use
solely on a need-to-know basis and shall not cause or permit the disclosure of
any third party any confidential information disclosed by either party pursuant
to this Agreement. Dreyer's shall disclose Integrated Brands' confidential
information only to those Persons who require such information for the purpose
of performing the Collateral Agreements (as defined in the Asset Sale Agreement)
and shall use such information solely for the purpose of performing its
obligations under the Collateral Agreements. Confidential information may
include, but is not limited to, formulas, production processes, research, and
marketing and sales information. Said confidentiality requirement shall not
apply to any information which (i) has entered into the public domain through no
wrongful act or breach of any obligation of confidentiality on the receiving
party's or any third party's part; (ii) was in the lawful knowledge and
possession of, or was independently developed by, the receiving party prior to
the time it was disclosed to, or learned by, the receiving party as evidenced by
written records kept in the ordinary course of business by the receiving party
except this Section 11.a.ii will not apply to Dreyer's with respect to
information relating to the Ice Cream Assets and the Distribution Assets, all of
which shall remain subject to the restrictions notwithstanding Sellers'
Knowledge (as defined in the Asset Purchase Agreement); (iii) was rightfully
received from a third party not in violation of any contractual, legal or
fiduciary obligation of such third party; or (iv) was approved for release by
written authorization by the party having rights in such information.

         b.       Compelled Disclosure. In the event that a party is required by
law or court order or by stock exchange to disclose any confidential information
of the other party, that party shall (i) notify the other party in writing as
soon as possible, but in no event less than ten (10) calendar

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days prior to any such disclosure; (ii) cooperate with the other party to
preserve the confidentiality of such confidential information consistent with
applicable law; and (iii) use its best efforts to limit any such disclosure to
the minimum disclosure necessary to comply with such law or court order.

12.      INDEMNIFICATION AND PRODUCT LIABILITY INSURANCE.

         a.       Indemnification.

                  i.       Dreyer's shall indemnify and hold harmless Integrated
         Brands and its Affiliates and their officers, directors, agents,
         employees, successors, assigns and Licensors (as defined below) from
         and against any and all claims, suits, demands, actions, proceedings,
         costs, damages, expenses (including, but not limited to, legal fees and
         out-of-pocket expenses) and losses arising out of or related to
         Dreyer's breach of, or non-compliance with, its obligations under this
         Agreement. Dreyer's, upon written request from Integrated Brands,
         promptly shall defend or settle such claim, suit, demand, action or
         proceeding at Dreyer's expense. Nothing herein shall prevent Integrated
         Brands from defending or settling, if it so desires in its own
         discretion, any such claim, suit, demand, action or proceeding at its
         own expense through its own counsel.

                  ii.      Integrated Brands shall indemnify and hold harmless
         Dreyer's and its Affiliates and their officers, directors, agents,
         employees, successors and assigns from and against any and all claims,
         suits, demands, actions, proceedings, costs, damages, expenses
         (including, but not limited to, legal fees and out-of-pocket expenses)
         and losses arising out of or related to Integrated Brands' breach of,
         or non-compliance with, its obligations under this Agreement.
         Integrated Brands, upon written request from Dreyer's, promptly shall
         defend or settle such claim, suit, demand, action or proceeding at
         Integrated Brands' expense. Nothing herein shall prevent Dreyer's from
         defending or settling, at its own discretion, any such claim, suit,
         demand, action or proceeding at its own expense through its own
         counsel.

         b.       Insurance. At all times during the Term, Dreyer's shall
maintain appropriate insurance at commercially reasonable levels of coverage to
cover all of its obligations under this Agreement, including, without
limitation, general liability insurance and malicious product tampering, product
liability, and product recall insurance with respect to the manufacture and sale
of the Products, in each case with minimum coverage of [****] per occurrence and
[****] in aggregate general commercial liability coverage. Integrated Brands
will be named as an additional insured on such insurance policies during the
Term. If any of the foregoing types of insurance are not obtainable generally in
the market (it being understood that any increase in the costs of coverage shall
not deem such type of insurance unobtainable), then the absence of such
insurance coverage shall not constitute a breach of this Section 12.b.

13.      NO JOINT VENTURE.

         Nothing herein shall be construed to create any relationship of
employer and employee, agent and principal, partnership or joint venture between
the parties. Neither party shall assume, either directly or indirectly, any
liability of or for the other party. Neither party shall have the

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authority to bind or obligate the other party and neither party shall represent
that it has such authority.

14.      ASSIGNMENT.

         a.       No Assignment by Dreyer's.

                  i.       This Agreement and all rights and duties hereunder
         are personal to Dreyer's. This Agreement or any portion thereof, or any
         right or responsibility hereunder, shall not be assignable by Dreyer's
         without the prior written approval of Integrated Brands.

                  ii.      Any attempted assignment by Dreyer's without the
         prior written approval of Integrated Brands shall be void and of no
         effect.

         b.       Assignment by Integrated Brands. Integrated Brands may assign
this Agreement to any third party, provided that such third party is also
assigned all of Integrated Brands' right, title and interest in and to the
Trademarks and the Specifications, and Integrated Brands shall furnish written
notice of such assignment to Dreyer's.

15.      LICENSORS.

         With respect to any Products manufactured hereunder utilizing a
trademark owned by a third party and licensed by such third party (a "Licensor")
to Integrated Brands, Dreyer's understands and acknowledges that this Agreement,
and all of the obligations owed by Dreyer's, and all of the rights of Integrated
Brands hereunder, as any of the foregoing relate to said licensed trademark
and/or any Product utilizing said licensed trademark, are for the express
benefit of such Licensor, who shall have the independent right to enforce its
terms, including, but not limited to, provisions related to quality control,
directly upon Dreyer's.

16.      NOTICES.

         All notices to be made hereunder shall be in writing sent via
certified, overnight or registered mail (return receipt requested) or overnight
courier service with proof of delivery. Such notices shall be given to or made
at the respective addresses of the parties as set forth below unless
notification of a change of address is given, in writing, and the date of
receipt shall be deemed the date the notice is received:

                  To Integrated Brands:

                           Integrated Brands, Inc.
                           4175 Veterans Highway
                           Ronkonkoma, New York 11779
                           Attn:  David J. Stein, Co-Chief Executive Officer

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                  To Dreyer's:

                           Dreyer's Grand Ice Cream, Inc.
                           5929 College Avenue
                           Oakland, California  94618
                           Attn:  General Counsel

                  To Nestle Holdings, Inc.:

                           Nestle Holdings, Inc.
                           c/o Nestle USA, Inc.
                           800 North Brand Blvd.
                           Glendale, California  91203
                           Attn:  General Counsel

                           with a copy to:

                           Howrey, Simon, Arnold & White LLP
                           1299 Pennsylvania Avenue, N.W.
                           Washington, DC 20004
                           Attn: Roxann E. Henry, Esq.

In the event that Integrated Brands gives notice regarding any breach or
violation of this Agreement by Dreyer's, Integrated Brands should also
concurrently provide a copy of such notice to Nestle Holdings, Inc.

17.      WAIVER.

         None of the terms of this Agreement shall be deemed to be waived or
amended by either party unless such a waiver or amendment specifically
references this Agreement and is in writing signed by the party to be bound.

18.      ENTIRE AGREEMENT.

         This Agreement, together with Asset Sale Agreement and the other
Collateral Agreements, contain the entire agreement between the parties hereto
with respect to the subject matter hereof and supersede any previous
understandings or agreements, whether written or oral, in respect of such
subject matter. This Agreement shall be binding upon and inure to the benefit of
the parties, their successors and assigns.

19.      SEVERABILITY.

         The illegality, invalidity or unenforceability of any part of this
Agreement shall not affect the legality, validity or enforceability of the
remainder of this Agreement. If any part of this Agreement shall be found to be
illegal, invalid or unenforceable, this Agreement shall be given such meaning as
would make this Agreement legal, valid and enforceable in order to give effect
to the intent of the parties.

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20.      GOVERNING LAW; WAIVER OF JURY TRIAL.

         This Agreement shall be governed by and construed in accordance with
the laws of the State of New York applicable to agreements made and to be
performed entirely within such state, without regard to the choice-of-law
principles of such state. Each party hereby waives to the fullest extent
permitted by applicable law, any right it may have to a trial by jury in respect
to any litigation directly or indirectly arising out of, under, or in connection
with this Agreement or the transactions contemplated hereby or disputes relating
hereto.

21.      ACTIONS AND PROCEEDINGS.

         Dreyer's and its Affiliates and Integrated Brands hereby irrevocably
consent to the exclusive jurisdiction and venue of the courts of the State of
New York and the United States District Court for the Southern District of New
York in connection with any action or proceeding arising out of this Agreement
or any related transaction. Integrated Brands irrevocably appoints Integrated
Brands' Co-Chief Executive Officer as its authorized agent upon whom process may
be served in any such action or proceeding instituted in any such court and
waives any objections to personal jurisdiction with respect thereto. Dreyer's
and its Affiliates hereby appoint Dreyer's General Counsel as their authorized
agent upon whom process may be served in any such action or proceeding
instituted in any such court and waive any objections to personal jurisdiction
with respect thereto.

22.      COUNTERPARTS.

         This Agreement may be executed in several counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and
the same instrument.

23.      CONTINGENCIES.

         Whenever performance by a party of any of its obligations hereunder,
other than the payment of money due, is substantially or completely prevented by
reason of an act of God, strike, lockout or other labor difficulty,
transportation dislocation, fuel allocation, shortage of raw material or
supplies, accident or other casualty, production breakdown, requirement or
request of governmental authority or other circumstance beyond the reasonable
good faith control of the party required to act, performance shall be excused
for the period during which such state of affairs continues. However, the
affected party shall use its best efforts to resume performing hereunder at the
earliest practicable date, and shall promptly notify the other party of the
occurrence, or threatened occurrence, of any such event or circumstance it
reasonably expects will prevent it from performing hereunder and, to the best of
its knowledge, the expected duration of said state of affairs.

                                      * * *

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<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this instrument to
be duly executed as of the date and year first written above.

INTEGRATED BRANDS, INC.               DREYER'S GRAND ICE CREAM, INC.

By: /s/ David J. Stein                By: /s/ T. Gary Rogers
    --------------------------            ------------------------------------
    David J. Stein                        T. Gary Rogers
    Co-Chief Executive Officer            Chairman of the Board of Directors and
                                          Chief Executive Officer

                      [Signature Page to Co-Pack Agreement]<PAGE>

                                                                   EXHIBIT 10.21

* Certain information in this document has been omitted and filed separately
with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. The omitted portions are
indicated by [****].

                                                                  EXECUTION COPY

                          TRANSITION SERVICES AGREEMENT

                                     BETWEEN

                         DREYER'S GRAND ICE CREAM, INC.

                                       AND

                             INTEGRATED BRANDS, INC.

                            DATED AS OF JULY 5, 2003

<PAGE>

                  This TRANSITION SERVICES AGREEMENT (this "Agreement"), dated
as of July 5, 2003, is by and between Dreyer's Grand Ice Cream, Inc., a Delaware
corporation ("Dreyer's"), and Integrated Brands, Inc., a New Jersey corporation
("Integrated Brands").

                  WHEREAS, Dreyer's, New December, Inc., a Delaware corporation,
Nestle Ice Cream Company, LLC, a Delaware limited liability company ("NICC"),
and Integrated Brands have entered into an Amended and Restated Asset Purchase
and Sale Agreement, as amended and restated on June 4, 2003 (the "Asset Sale
Agreement"), pursuant to which, among other things, Integrated Brands shall
purchase from Dreyer's and NICC, and Dreyer's and NICC shall sell, or cause to
be sold, subject to the terms and conditions thereof, the Ice Cream Assets (as
defined in the Asset Sale Agreement) and the Distribution Assets (as defined in
the Asset Sale Agreement); and

                  WHEREAS, in connection with the Asset Sale Agreement,
Integrated Brands desires that Dreyer's provide, or cause to be provided, to
Integrated Brands, and Dreyer's is willing to provide, or cause to be provided,
to Integrated Brands, certain transition services following the closing of the
transactions contemplated by the Asset Sale Agreement, on the terms and
conditions set forth herein; and

                  WHEREAS, as an essential part of the transactions contemplated
by the Asset Sale Agreement, Dreyer's has agreed to provide, or cause to be
provided, such transition services to Integrated Brands to facilitate Integrated
Brands' acquisition of the Ice Cream Assets and the Distribution Assets; and

                  NOW, THEREFORE, in consideration of the foregoing recitals and
the mutual covenants and agreements contained in this Agreement, and other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto, intending to be legally bound, agree as
follows:

                  1.       Agreement to Provide Services.

                  1.1      Agreement. Upon the terms and subject to the
conditions contained herein and in Exhibit A attached hereto, Dreyer's hereby
agrees to provide, or cause its Affiliates (as defined in the Asset Sale
Agreement) to provide, to Integrated Brands the Transition Services (as defined
herein), and Integrated Brands agrees to pay Dreyer's the Service Costs (as
defined herein) for such Transition Services.

                  1.2      Transition Services. In this Agreement, the term
"Transition Services" shall mean and refer to the services relating to the Ice
Cream Assets and the Distribution Assets and as more fully described on Exhibit
A and Exhibit B (as such Exhibits may be amended or modified from time to time
as provided herein). If Integrated Brands desires Dreyer's to provide a service
not described on Exhibit A or Exhibit B, Integrated Brands shall provide
Dreyer's written notice thereof at least ten (10) days prior to the date that
Integrated Brands desires such service to begin, and Dreyer's and Integrated
Brands shall cooperate and use reasonable best efforts to reach a mutual written
agreement with respect to the provision of such service and the terms and
conditions related thereto within such 10-day period.

                                      -1-

<PAGE>

                  1.3      Transition Period. Dreyer's shall provide the
Transition Services to Integrated Brands during the periods (each, a "Transition
Period") that shall commence on the Closing Date (as defined in the Asset Sale
Agreement) and shall, with respect to each Transition Service, continue for the
period of time shown on Exhibit A or Exhibit B or otherwise agreed to in writing
by the parties for such Transition Service, unless earlier terminated in
accordance with Section 1.4. In the event that Integrated Brands reasonably
requires any particular Transition Service beyond the Transition Period
specified in Exhibit A or Exhibit B, Dreyer's shall, if requested by Integrated
Brands, continue to provide such Transition Service for a reasonable period of
time after the applicable Transition Period specified therein so long as
Integrated Brands is using its reasonable best efforts to end its need for such
Transition Service as promptly as practicable after expiration of such
Transition Period.

                  1.4      Phase-Out or Termination of Transition Services.

                  (a)      Integrated Brands shall have the unconditional right,
in its sole and absolute discretion, to direct that any or all of the Transition
Services be terminated effective on a date established by Integrated Brands
("Early Termination") that is prior to the termination date for such Transition
Services set forth on Exhibit A or Exhibit B. Any such Early Termination shall
be final, and the amounts payable by Integrated Brands hereunder with respect to
such terminated Transition Services will be appropriately prorated on a daily
basis for any partial month based on the actual number of days in such month.
Integrated Brands may request that the level of any specific item of the
Transition Services be reduced or phased out, subject to mutual written
agreement of the parties.

                  (b)      This Agreement may be terminated as follows: (i) by
either party hereto immediately in the event the other party has been
adjudicated bankrupt, has failed to vacate an involuntary bankruptcy or
reorganization petition within thirty (30) days of the date of such filing,
files such a petition on a voluntary basis, fails to vacate the appointment of a
receiver or trustee for the other party or for a substantial portion of its
assets, makes an assignment for the benefit of such other party's creditors or
ceases to do business as a going concern, or (ii) by Integrated Brands upon
written notice to Dreyer's in the event that Dreyer's breaches any material term
of this Agreement if Dreyer's fails to remedy such breach within the cure period
set forth in Section 7.1 hereof.

                  2.       Payment for Transition Services.

                  2.1      Service Costs. In consideration for Dreyer's
provision of the Transition Services, Integrated Brands will reimburse Dreyer's
for Dreyer's "Service Costs", which shall be determined in accordance with
Exhibit A and shall consist of the following, to the extent identified on
Exhibit A: (a) Dreyer's cost for [****] providing the Transition Services at a
rate equal to the [****] in providing such services at [****] rate based on each
such [****], and (b) Dreyer's [****] incurred by Dreyer's in connection with
providing, or in order to provide or cause to be provided to Integrated Brands,
Transition Services (the "Reimbursable Expenses"); provided that in no event
shall Service Costs include any cost, expense, fee, charge or other amount (i)
with respect to any item, service, property or other matter for which Integrated
Brands is otherwise obligated to pay under the Asset Sale Agreement or the
Collateral Agreements (other than this Agreement, as defined in the Asset Sale
Agreement), or (ii) relating to any

                                      -2-

<PAGE>

obligation, covenant or agreement of Dreyer's or any of its Affiliates pursuant
to the Asset Sale Agreement or the Collateral Agreements (other than this
Agreement) for which Dreyer's or its Affiliates is obligated to pay under such
agreement. Dreyer's shall use reasonable best efforts to provide Integrated
Brands at least thirty (30) days' written notice in the event that any
Reimbursable Expenses shall increase materially above the amounts paid by
Dreyer's in connection with the Ice Cream Assets immediately prior to the
Closing (as defined in the Asset Sale Agreement).

                  2.2      Reimbursement of Service Costs. Dreyer's shall
invoice Integrated Brands for Service Costs promptly after the end of each
calendar quarter during the Transition Period. Such invoices shall set forth in
reasonable detail the Transition Services provided during such quarter and the
Service Costs payable by Integrated Brands therefor. All invoices shall be paid
not later than thirty (30) calendar days following receipt by Integrated Brands
of Dreyer's invoice in accordance with the written instructions provided by
Dreyer's to Integrated Brands; provided that no such payment by Integrated
Brands shall be deemed to be a waiver by Integrated Brands of its rights under
Section 2.3. This Section 2.2 shall survive any termination of this Agreement
with respect to Transition Services performed pursuant to this Agreement for
which Dreyer's has not yet been reimbursed by Integrated Brands.

                  2.3      Audits; Objections. Integrated Brands shall have the
right, upon reasonable written notice and at Integrated Brands' expense, to
review the applicable books and records of Dreyer's and its Affiliates with
respect to Dreyer's obligations under this Agreement and to confer with
employees of Dreyer's and such Affiliates to review the accuracy of any of the
invoices provided to Integrated Brands hereunder (during business hours and
without unreasonably disrupting Dreyer's or such Affiliates' normal operations).
In the event that Integrated Brands disputes any such invoice or the amount of
any such remittances, Integrated Brands shall notify Dreyer's in writing of its
objections, and Integrated Brands and Dreyer's shall negotiate in good faith to
attempt to resolve such dispute.

                  3.       Service Standards; Disclaimer of Warranties; Scope of
                           Services.

                  (a)      As a general principle, Dreyer's shall, and shall
cause its Affiliates to, perform the Transition Services with substantially the
same degree of care, skill, diligence and compliance with applicable law and in
substantially the same manner as corresponding services were provided to or on
behalf of Dreyer's with respect to the Ice Cream Assets immediately prior to the
Closing. Subject to the foregoing, Dreyer's and its Affiliates shall not be in
breach of this Agreement or have any liability of any nature whatsoever to
Integrated Brands in connection with the performance of this Agreement, and
Integrated Brands shall be solely responsible for all losses, damages, costs and
expenses of whatever nature incurred by Integrated Brands in connection with the
performance of this Agreement by Dreyer's and its Affiliates, except to the
extent that such losses, damages, costs and expenses are attributable to
negligence or willful misconduct on the part of Dreyer's, its Affiliates or any
of their respective employees, directors, contractors or other representatives.

                  (b)      EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, THERE
ARE NO OTHER REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, MADE OR GIVEN BY
EITHER PARTY HEREUNDER, INCLUDING, WITHOUT

                                      -3-

<PAGE>

LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE
OF ANY TRANSITION SERVICES PROVIDED HEREUNDER.

                  (c)      The Transition Services shall be provided only in
connection with the Ice Cream Assets and the Distribution Assets and not to any
other business of Integrated Brands or its Affiliates.

                  4.       Force Majeure. Neither party shall be liable for any
failure of performance attributable to acts, events or causes (including, but
not limited to, war, terrorism, riot, rebellion, civil disturbances, power
failures, failure of telephone lines and equipment, flood, storm, fire and
earthquake or other acts, conditions or events of nature, or any law, order,
proclamation, regulation, ordinance, demand or requirement of any Governmental
Entity (as defined in the Asset Sale Agreement), or any strike, lockout, work
stoppage or other labor action) beyond its control that prevent, in whole or in
part, performance by such party hereunder. The party so unable to perform shall
promptly notify the other party of its inability to perform. The affected
provisions and/or other requirements of this Agreement shall be suspended during
the period of such disability and Dreyer's shall have no liability to Integrated
Brands or any other party in connection therewith other than by reason of breach
or nonfulfillment of its covenants in this Section 4. Dreyer's shall make all
reasonable best efforts to remove such disability as soon as and to the extent
reasonably possible and to assist Integrated Brands in finding third parties to
provide affected Transition Services.

                  5.       Access to Coordinator. At Integrated Brands' request,
Dreyer's shall make reasonable best efforts to provide Integrated Brands,
shortly after such request, with access to the employees of Dreyer's with
responsibility for coordinating the Transition Services hereunder.

                  6.       Indemnification. Dreyer's shall indemnify, defend and
hold harmless Integrated Brands, CoolBrands International. its Affiliates, their
officers, directors, employees, agents and representatives from and against any
and all losses, liabilities, claims, damages, actions, fines, penalties,
expenses or costs (including court costs and reasonable attorneys' fees)
("Losses") arising out of (i) the negligence or willful misconduct of Dreyer's,
its Affiliates or their respective employees, directors, contractors or other
representatives in providing the Transition Services, or (ii) a breach of the
terms or conditions of this Agreement (other than a breach in respect of
providing the Transition Services). Integrated Brands shall indemnify, defend
and hold harmless Dreyer's, Nestle USA, Inc., and their Affiliates, their
officers, directors, employees, agents and representatives from and against any
and all Losses arising out of (x) the negligence or willful misconduct of
Integrated Brands, its Affiliates or their respective employees, directors,
contractors or other representatives in connection with the Transition Services
or (y) any breach by Integrated Brands of any term or condition of this
Agreement. Notwithstanding any other provision of this Agreement, neither party
shall be liable for lost profit, lost revenue or any other form of indirect,
incidental, special, consequential or punitive damages, even if that party has
been informed of the possibility of such damages. The indemnities under this
Section 6 shall be the sole and exclusive remedy available to each party
hereunder, except in case of willful misconduct by a party or its Affiliates.

                                      -4-

<PAGE>

                  7.       General Provisions.

                  7.1      Notice of Breach. In the event of a material breach
of this Agreement by a party, the party claiming the breach shall give notice of
such breach (in accordance with Section 7.2 hereof) to the other party, which
party shall have forty-five (45) calendar days to cure such breach. In the event
that the party claiming the breach is Integrated Brands, Integrated Brands shall
also give notice of such breach to Nestle Holdings, Inc., a Delaware
corporation, in accordance with Section 7.2 hereof. In the event of such cure
within such 45-day period, such notice of breach shall be deemed rescinded.
Either party's failure to send a notice of breach or to pursue legal remedies
available to it shall not constitute or be construed as a waiver or
acquiescence, and each party expressly reserves the right to subsequently pursue
such remedies for the same or any other breach, either of the same or different
character.

                  7.2      Notices. All notices or other communications required
or permitted to be given hereunder shall be in writing and shall be delivered by
hand or sent by postage prepaid, registered, certified or express mail or by
reputable overnight courier service and shall be deemed given when delivered by
hand, three days after mailing (one (1) Business Day (as defined in the Asset
Sale Agreement) in the case of guaranteed overnight express mail or guaranteed
overnight courier service), as follows (or at such other address for a party as
shall be specified by like notice):

                        (i)  If to Dreyer's or New Dreyer's:

                             Dreyer's Grand Ice Cream, Inc.
                             5929 College Avenue
                             Oakland, California  94618
                             Attn:  General Counsel

                       (ii)  If to Integrated Brands:

                             Integrated Brands, Inc.
                             4175 Veterans Highway
                             Ronkonkoma, New York  11779
                             Attn:  David J. Stein, Co-Chief Executive Officer

                             with a copy to:

                             Goodwin Procter LLP
                             599 Lexington Avenue
                             New York, New York  10022
                             Attn:  Daniel Kaplan, Esq.

                                      -5-

<PAGE>

                      (iii)  If to Nestle Holdings, Inc. :

                             Nestle Holdings, Inc.
                             c/o Nestle USA, Inc.
                             800 North Brand Boulevard.
                             Glendale, California  91203
                             Attn:  General Counsel

                             with a copy to:

                             Howrey, Simon, Arnold & White LLP
                             1299 Pennsylvania Avenue, N.W.
                             Washington, DC  20004
                             Attn:  Roxann E. Henry, Esq.

In the event that Integrated Brands gives notice regarding any breach or
violation of this Agreement by Dreyer's, Integrated Brands should also
concurrently provide a copy of such notice to Nestle Holdings, Inc.

                  7.3      Assignment; Successors and Assigns. Except as set
forth below, this Agreement and the rights and obligations hereunder shall not
be assigned or transferred in whole or in part by Integrated Brands or Dreyer's
without the prior written consent of the other party hereto. Integrated Brands
may assign or delegate its rights, obligations or liabilities under this
Agreement in whole or in part to one or more Affiliates of Integrated Brands or
to the lender or lenders providing to it the financing to consummate the
transactions contemplated by the Asset Sale Agreement, in each case without
Dreyer's consent (provided that a pledge of Integrated Brands' rights,
obligations or liabilities under this Agreement to such lender or lenders shall
not constitute an assignment hereunder until such time as any such lender
exercises its rights under the pledge agreement or other applicable agreement or
document); provided, however, that in any such event, Integrated Brands shall
remain fully liable for the fulfillment of all its obligations hereunder.
Dreyer's may not assign but may delegate its rights, obligations or liabilities
under this Agreement in whole or in part to one or more Affiliates of Dreyer's;
provided that, in any such event, Dreyer's shall remain fully liable for the
fulfillment of all of its obligations hereunder. Any attempted assignment or
delegation in contravention hereof shall be null and void. This Agreement shall
be binding upon and inure to the benefit of the successors and assigns of the
parties hereto.

                  7.4      No Third-Party Beneficiaries. Except for persons
entitled to indemnification under Section 6 hereof, this Agreement is for the
sole benefit of the parties hereto, and nothing herein express or implied shall
give or be construed to give to any person or entity, other than the parties
hereto, any legal or equitable rights hereunder.

                  7.5      Remedies. Nothing contained herein shall be deemed to
be a limitation on any remedies that may be available to any party under the
Asset Sale Agreement or any other Collateral Agreement.

                                      -6-

<PAGE>

                  7.6      Interpretation; Definitions. The headings contained
in this Agreement or in any Schedule hereto are for reference purposes only and
shall not affect in any way the meaning or interpretation of this Agreement. The
terms defined in the singular shall have a comparable meaning when used in the
plural, and vice versa. This Agreement shall be construed without regard to any
presumption or rule requiring construction or interpretation against the party
drafting or causing any instrument to be drafted. When a reference is made in
this Agreement to Articles, Sections or Exhibits, such reference shall be to an
Article or Section of or Exhibit to this Agreement unless otherwise indicated.
All references in this Agreement to Dreyer's shall include Dreyer's Affiliates,
as and to the extent applicable. Whenever the words "include," "includes" or
"including" are used in this Agreement, they shall be deemed to be followed by
the words "without limitation." The phrases "the date of this Agreement," "the
date hereof" and terms of similar import, unless the context otherwise requires,
shall be deemed to refer to the date set forth in the first paragraph of this
Agreement. The words "hereof," "hereby," "herein," "hereunder" and similar terms
in this Agreement shall refer to this Agreement as a whole (including the
Exhibits) and not to any particular Section in which such words appear. All
references herein to dollar amounts shall be deemed to be references to U.S.
Dollars.

                  7.7      Amendments. No amendment to this Agreement shall be
effective unless it shall be in writing and signed by each party hereto.

                  7.8      Counterparts. This Agreement and any amendments
hereto may be executed by facsimile and in one or more counterparts, all of
which shall be considered one and the same agreement, and shall become effective
when one or more such counterparts have been signed by each of the parties and
delivered to the other party.

                  7.9      Severability. If any provision of this Agreement or
the application of any such provision to any person or circumstance shall be
held invalid, illegal or unenforceable in any respect by a court of competent
jurisdiction, such invalidity, illegality or unenforceability shall not affect
any other provision hereof.

                  7.10     Governing Law; Waiver of Jury Trial. This Agreement
shall be governed by and construed in accordance with the laws of the State of
New York applicable to agreements made and to be performed entirely within such
state, without regard to the choice-of-law principles of such state. Each party
hereby waives to the fullest extent permitted by applicable law, any right it
may have to a trial by jury in respect to any litigation directly or indirectly
arising out of, under, or in connection with this Agreement or the transactions
contemplated hereby or disputes relating hereto.

                  7.11     Actions and Proceedings. Dreyer's and its Affiliates
and Integrated Brands hereby irrevocably consent to the exclusive jurisdiction
and venue of the courts of the State of New York and the United States District
Court for the Southern District of New York in connection with any action or
proceeding arising out of this Agreement or any related transaction. Integrated
Brands irrevocably appoints Integrated Brands' Co-Chief Executive Officer as its
authorized agent upon whom process may be served in any such action or
proceeding instituted in any such court and waives any objections to personal
jurisdiction with respect thereto. Dreyer's and its Affiliates hereby appoint
Dreyer's General Counsel as their

                                      -7-

<PAGE>

authorized agent upon whom process may be served in any such action or
proceeding instituted in any such court and waive any objections to personal
jurisdiction with respect thereto.

                  7.12     Waiver. Except as otherwise provided in this
Agreement, any failure of either of the parties hereto to comply with any
obligation, covenant, agreement or condition herein may be waived by the party
entitled to the benefits thereof only by a written instrument signed by the
party granting such waiver, but such waiver or failure to insist upon strict
compliance with such obligation, covenant, agreement or condition shall not
operate as a waiver of, or estoppel with respect to, any subsequent or other
failure. Any consent given by any party pursuant to this Agreement shall be
valid only if contained in a written consent signed by such party.

                  7.13     Mutual Confidentiality Covenants.

                  7.13.1   Obligation. Both parties shall keep confidential and
shall not cause or permit the disclosure to any third party of any confidential
information disclosed by either party pursuant to this Agreement. Dreyer's shall
disclose Integrated Brands' confidential information only to those Persons who
require such information for the purpose of performing the Collateral Agreements
and shall use such information solely for the purpose of performing its
obligations under the Collateral Agreements. Confidential information may
include, but is not limited to, formulas, production processes, research,
marketing and sales information. Said confidentiality requirement shall not
apply to any information which (i) has entered into the public domain through no
wrongful act or breach of any obligation of confidentiality on the receiving
party's or any third party's part; (ii) was in the lawful knowledge and
possession of, or was independently developed by, the receiving party prior to
the time it was disclosed to, or learned by, the receiving party as evidenced by
written records kept in the ordinary course of business by the receiving party,
except this Section 7.13.1 will not apply to Dreyer's with respect to
information relating to the Ice Cream Assets and the Distribution Assets all of
which shall remain subject to the restrictions notwithstanding Sellers'
Knowledge (as defined in the Asset Sale Agreement); (iii) was rightfully
received from a third party not in violation of any contractual, legal or
fiduciary obligation of such third party; or (iv) was approved for release by
written authorization by the party having rights in such information.

                  7.13.2   Compelled Disclosure. In the event that a party is
required by law or court order or stock exchange to disclose any confidential
information of the other party, that party shall (i) notify the other party in
writing as soon as possible, but in no event less than ten (10) calendar days
prior to any such disclosure; (ii) cooperate with the other party to preserve
the confidentiality of such confidential information consistent with applicable
law; and (iii) use its best efforts to limit any such disclosure to the minimum
disclosure necessary to comply with such law or court order.

                  7.14     Authority. Neither of the parties hereto shall act or
represent or hold itself out as having authority to act as an agent or partner
of the other party, or in any way bind or commit the other party to any
obligations. Nothing contained in this Agreement shall be construed as creating
a partnership, joint venture, agency, trust or other association of any kind,
each party being individually responsible only for its obligations as set forth
in this Agreement.

                                      -8-

<PAGE>

                  7.15     Term of Agreement. Unless terminated earlier pursuant
to Section 1.4 hereof, this Agreement will terminate and be of no further force
or effect immediately as of the time and date that the last remaining Transition
Period (as such Transition Period may have been extended pursuant hereto) shall
have either expired or been terminated; provided that upon termination or
expiration of this Agreement, (i) neither party hereto shall be relieved of any
liability for any breach or nonfulfillment of any provision of this Agreement
and (ii) Section 6 and Sections 7.2 and 7.13 will survive any termination or
expiration of this Agreement. The amounts that Integrated Brands is obligated to
pay on a quarterly basis pursuant to Section 2 will be prorated on a daily basis
for any partial month of the term of this Agreement.

                  7.16.    Exhibits. All Exhibits annexed hereto or referred
to herein are hereby incorporated in and made a part of this Agreement as if set
forth in full herein.

                  7.17     Entire Agreement. This Agreement (including the
Exhibits hereto), the Asset Sale Agreement and the other Collateral Agreements
contain the entire agreement and understanding between the parties hereto with
respect to the subject matter hereof and supersede all prior agreements and
understandings, whether written or oral, relating to such subject matter.

                                      -9-

<PAGE>

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

                                      DREYER'S GRAND ICE CREAM, INC.

                                      By:    /s/ T. Gary Rogers
                                          ----------------------------------
                                          T. Gary Rogers
                                          Chairman of the Board of Directors and
                                            Chief Executive Officer

                                      INTEGRATED BRANDS, INC.

                                      By:    /s/ David J. Stein
                                          --------------------------------------
                                          David J. Stein
                                          Co-Chief Executive Officer

                [Signature Page to Transition Services Agreement]

<PAGE>

                                    EXHIBIT A

                               Transition Services

                                     [****]

Exhibit A to Transition Services Agreement

* Certain information in this document, including Exhibit A (consisting of two
pages), has been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the
omitted portions. The omitted portions are indicated by [****].

<PAGE>

                                    EXHIBIT B

                        Computer and Accounting Services

                                     [****]

Exhibit B to Transition Services Agreement

* Certain information in this document, including Exhibit B (consisting of four
pages), has been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the
omitted portions. The omitted portions are indicated by [****].

                                       -1-

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