SETTLEMENT AND RELEASE AGREEMENT
SETTLEMENT
AND RELEASE AGREEMENT
THIS
SETTLEMENT AND RELEASE AGREEMENT, is dated as of January 29, 2008 (this
"Agreement"),
by
and among NexCen Brands, Inc., a Delaware corporation ("NexCen"),
Great
American Cookie Company Franchising, LLC, a Delaware limited liability company
("GACCF"),
Xxx.
Xxxxxx Famous Brands, LLC, a Delaware limited liability company ("MFFB"),
Xxx.
Xxxxxx' Original Cookies, Inc., a Delaware corporation ("MFOC"),
each
of the Franchisees that is a signatory hereto and listed as an “Accredited
Franchisee” on Schedule I hereto (each an "Accredited
Franchisee,"
and
collectively, the "Accredited
Franchisees"),
each
of the other Franchisees that is a signatory hereto and listed as an “Other
Franchisee” on Schedule I hereto (each an “Other
Franchisee,”
and
collectively, the “Other
Franchisees,”
and
collectively with the Accredited Franchisees, the “Franchisees”),
and
each Franchisee Principal that is signatory hereto and listed on Schedule I
hereto (each a "Franchisee
Principal,"
and
collectively, the "Franchisee
Principals").
Capitalized terms used in these recitals without definition shall have the
meanings set forth in Section 1 below.
WHEREAS,
each of the Franchisees, MFOC, Capricorn Investors II, L.P., a Delaware limited
partnership ("Capricorn"),
Great
American Cookie Company, Inc., a Delaware corporation ("GACC"), Cookies USA,
Inc., a Delaware corporation ("Cookies
USA"),
are
parties to or eligible under the terms of certain Settlement Agreement and
Releases each dated June 1998 (the "1998
Settlement Agreements"),
pursuant to which the parties thereto agreed to settle certain claims and make
certain undertakings as set forth therein;
WHEREAS,
MFFB, NexCen, NexCen Asset Acquisition, LLC, NexCen Fixed Asset Company, LLC,
GACCF, and Great American Manufacturing, LLC, will enter into an Asset Purchase
Agreement dated as of even date herewith (the "Asset
Purchase Agreement"),
pursuant to which, inter
alia,
GACCF
will sell to NexCen or its Affiliates, and NexCen or its Affiliates will acquire
from GACCF, certain assets owned or used by GACCF in the GAC Franchise,
including the GAC Brands (the “Transaction”);
NOW,
THEREFORE, in consideration of the representations, warranties, covenants and
agreements set forth in this Agreement, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the
parties hereto hereby agree as follows:
1. Definitions.
For the
purposes of this Agreement, the following terms and variations thereof have
the
meanings specified or referred to in this Section 1:
"Affiliate"
of any
Person means any Person which, directly or indirectly controls or is controlled
by that Person, or is under common control with that Person. For the purposes
of
this definition, "control" (including, with correlative meaning, the terms
"controlled by" and "under common control with"), as used with respect to any
Person, shall mean the possession, directly or indirectly of the power to direct
or cause the direction of the management and policies of such Person, whether
through ownership of voting securities or by contract or otherwise.
"Brands"
means
the "Great American Cookies," "Great American Chocolate Chip Cookie Company,"
"MaggieMoo's," "Marble Slab," "Pretzel Time," and "Pretzelmaker," and all other
quick service restaurant franchising brands owned or in use by NexCen, whether
such Brand is owned or used by NexCen prior to, on or after the Closing
Date.
"Closing"
means
the closing of the acquisition by NexCen or its Affiliates of those assets
owned
or used by GACCF in the GAC Franchise described in and pursuant to the Asset
Purchase Agreement.
"Closing
Date"
shall
mean the date on which the Closing occurs.
"Contract"
means
any contract, license, sublicense, franchise, permit, mortgage, purchase orders,
indenture, loan agreement, note, lease, sublease, agreement, obligation,
commitment, understanding, instrument or other arrangement or any commitment
to
enter into any of the foregoing (in each case, whether written or
oral).
"Franchise" means
the
grant by NexCen or its Affiliate to a Franchisee or Franchisee Principal of
the
rights to establish and operate a location using the Brands or outlet thereof
including subfranchise agreements, master development agreements, area
representative agreements, area development agreements, master franchise
agreements, development agreements, license agreements, and any other similar
agreements, together with all ancillary agreements related thereto.
"Franchise
Agreements"
means
any
Contract
(and any written or oral amendment or modification thereto) between NexCen
or
any of its Affiliates and a Franchisee or Franchisee Principal, as the case
may
be, pertaining to and evidencing the grant of a Franchise.
"Franchise
Credit"
has the
meaning set forth in Section 4(c).
"Franchisee
Account"
means
the account designated by each Franchisee at least three (3) Business Days
prior
to the Closing Date.
"GAC
Brands"
means
the "Great American Cookies" and "Great American Chocolate Chip Cookie Company"
brands.
"GACC
Association"
means
the Association of GACC Franchisees, Inc.
"GAC
Franchise Agreement"
means
any Contract (and written or oral amendment or modification thereto) between
GACCF or NexCen or their respective Affiliate, as a party and as the case may
be, and a Franchisee or Franchise Principal, as a counter-party and as the
case
may be, pertaining to and evidencing the grant of a GAC Franchise.
"GAC
Franchise"
means
the
grant
by GACCF or NexCen or their respective Affiliate, as applicable, to a franchisee
of the rights to establish and operate a location using the GAC Brands
or
outlet thereof including subfranchise agreements, master development agreements,
area representative agreements, area development agreements, master franchise
agreements, development agreements, license agreements, and any other similar
agreements, together with all ancillary agreements related thereto.
"Increased
Royalty Payment"
has the
meaning set forth in Section 6.
"Initial
Franchise Fees"
means,
in the aggregate, the nonrecurring initial franchise fees payable pursuant
to
any Franchise Agreements.
"Marks"
has the
meaning set forth in Section 5(d).
"New
Franchise Agreement"
means
any Franchise Agreement entered into after the date hereof between NexCen or
its
Affiliate and a Franchisee, Franchisee Principal or its designee to open a
new
Franchise location.
"Payment
Date"
has the
meaning set forth in Section 6.
2
"Person"
means
an individual, partnership, corporation, business trust, limited liability
company, limited liability partnership, joint stock company, trust,
unincorporated association, joint venture or other entity or a government
authority.
"Products"
has the
meaning set forth in Section 5(d).
"Pro
Rata Share"
means,
for each Franchisee, the cash amount or number of Warrants, as applicable,
set
forth opposite such Franchisee's name on Schedule I hereto.
“Purchaser
Representative”
has
the
meaning set forth in Rule 501(h) of Regulation D promulgated under the
Securities Act.
"Release
Consideration"
has the
meaning set forth in Section 4.
“Royalty
Payment”
for
each Franchisee, means the amount set forth next to such Franchisee’s name on
Schedule I hereto.
“Securities
Act”
shall
mean the Securities Act of 1933, as amended and in effect from time to
time.
“Tag-Along
Rights”
means
the rights of each Franchisee under Section 2 of the 1998 Settlement
Agreements.
"Undertakings"
has the
meaning set forth in Section 5.
"Warrant"
means a
Stock Purchase Warrant substantially in the form attached hereto as Exhibit
A.
2. Acquisition
of Tag-Along Rights.
Immediately prior to and subject to the completion of the Closing, in connection
with the Transaction pursuant to the Asset Purchase Agreement, MFFB will acquire
from each Franchisee, and each Franchisee will transfer to MFFB, all of such
Franchisee’s Tag-Along Rights (the “Acquired
Tag-Along Rights”).
MFFB
shall immediately, upon and subject to the Closing, convey all of the Acquired
Tag-Along Rights to NexCen. NexCen will then terminate such Acquired Tag-Along
Rights and such rights will no longer be of any force and effect.
3. Release.
(a) (i)
In
addition to the acquisition of the Acquired Tag-Along Rights pursuant to Section
2 of this Agreement and subject to the Closing occurring, and in consideration
of the Undertakings and payment of the Release Consideration, each Franchisee
and each Franchisee Principal, on behalf of themselves, any predecessor or
other
past, current or future direct or indirect investors in or directors, officers
and employees of the Franchisee and each such person's successors and assigns
(collectively with each Franchisee and the Franchisee Principal, the
"Releasor
Group")
hereby
agrees, upon the Closing, to release any and all rights, causes and actions,
whether or not known or anticipated, that any member of the Releasor Group
may
have, directly or indirectly, against NexCen, Xxx. Xxxxxx, Capricorn, Cookies
USA, or GACC and any of their respective past, current or future direct or
indirect investors, lenders, affiliates, directors, officers or employees or
any
such person's successors and assigns (collectively, the "Releasees")
arising out of or otherwise relating to, directly or indirectly, the 1998
Settlement Agreements, including but not limited to any rights that may be
associated with the Tag-Along Rights that are not otherwise acquired by MFFB
pursuant to Section 2 of this Agreement. Each member of the Releasor Group
further agrees and acknowledges that, upon the Closing, the 1998 Settlement
Agreements will terminate and be of no further force and effect and any and
all
rights of the Releasor Group thereunder shall be extinguished; and
3
(ii)
In
consideration of the various undertakings reflected in this Agreement, the
GACC
Association, on the one hand, and, on the other hand, NexCen, GAACF, MFFB,
MFOC,
each Franchisee and Franchisee Principal, and in respect to all such parties
and
each of their respective affiliates, successors and assigns, each of their
respective officers, directors, agents, employees and members, do hereby release
and forever discharge any and all rights, claims, causes and actions, whether
or
not known or anticipated, which any of them has or may have, directly or
indirectly, against any or all of the rest of them, as of the Closing Date,
arising out of, relating to, or in connection with any matter, undertaking
or
transaction described in this Agreement.
(b) The
members of the Releasor Group understand and agree that this Section 3 is a
full
and final release applicable to all unknown and unanticipated claims, as well
as
those known or disclosed, and in consideration of and as an inducement for
the
Undertakings and payment of the Release Consideration, the members of the
Releasor Group hereby expressly waive all rights or benefits which they now
have
or may in the future have against any of the Releasees under the provisions
of
Section 1542 of the California Civil Code, which section provides that "a
general release does not extend to claims which the creditor does not know
or
suspect to exist in his favor at the time of executing the release, which if
known to him must have materially affected his settlement with the debtor",
or
of provisions of similar import under the laws of other
jurisdictions.
4. Release
Consideration.
As
consideration for the acquisition of the Acquired Tag-Along Rights pursuant
to
Section 2 of this Agreement and the release provided in Section 3 and subject
to
the Closing occurring, each of MFFB or NexCen, as applicable, shall pay each
Franchisee the amounts set forth below (the "Release
Consideration"):
(a) Within
three (3) Business Days following the Closing Date, MFFB shall pay to each
Franchisee, by wire transfer of immediately available funds to each applicable
Franchisee Account, such Franchisee's Pro Rata Share of Six Million Seven
Hundred Thousand Dollars ($6,700,000);
(b) Within
five (5) Business Days following the Closing Date, NexCen shall deliver to
each
Franchisee a Warrant representing such Franchisee's Pro Rata Share of Three
Hundred Thousand (300,000) shares of NexCen common stock; provided,
that
NexCen shall not be obligated to issue any Warrant to any Person who has not
completed an accredited investor questionnaire; and
(c) Following
the Closing Date, NexCen shall credit each Franchisee who elects to enter into
a
New Franchise Agreement with NexCen its Pro Rata Share of One Million Dollars
($1,000,000) towards any Initial Franchise Fees payable under such New Franchise
Agreement, on one or more New Franchise Agreements, until such Pro Rata Share
is
exhausted ("Franchise
Credit"),
which, if permitted by applicable law, Franchise Credit may be transferred
by
such Franchisee, subject to NexCen's prior written approval, which shall not
be
unreasonably refused, conditioned, or delayed if such transferee meets NexCen’s
franchisee criteria applicable to such Franchise; provided,
however,
that
the Franchise Credit shall not reduce the Initial Franchise Fee payable under
any New Franchise Agreement to less than One Thousand Dollars ($1,000);
provided,
further,
that
the Franchise Credits shall expire, if not otherwise used, on the two (2) year
anniversary of the Closing Date.
5. NexCen
Undertakings.
NexCen
hereby agrees, subject to and following the Closing Date, for the benefit of
each Franchisee as follows (each an “Undertaking,”
and
collectively, the “Undertakings”):
(a) NexCen
will agree to maintain product and development support and marketing expenses
for the Products consistent with the average level of expenditure in calendar
years 2001, 2002, 2003, 2004 and 2005. Notwithstanding the foregoing, if
marketing fund contributions are lower than average expenditures in calendar
years 2001, 2002, 2003, 2004 and 2005, and/or the total number of GACCF units
decrease, then marketing expenditures may be adjusted
proportionately.
4
(b) NexCen
will provide the GACC Association (1) timely notice of any material change
proposed by NexCen or its Affiliates to the GAC Franchise Agreement and (2)
the
opportunity to consult with NexCen or its Affiliates, as applicable, regarding
such change. NexCen or its Affiliate, as applicable, will consider, in good
faith, all comments made by the GACC Association regarding proposed changes
to
the GAC Franchise Agreement.
(c) Provided
that the GACC Association continues to represent a majority of the GAC Brands'
franchise stores and its board of directors is elected through democratic
procedures, NexCen or its Affiliates, as applicable, will (1) recognize the
GACC
Association, and (2) provide the GACC Association with notice of all material
matters directly affecting the GAC Franchise and the opportunity to consult
with
NexCen regarding such matters. NexCen will consider, in good faith, all comments
made by the GACC Association regarding such matters.
(d) The
parties' shared intent is to preserve the "Great American" brand and system
as a
discrete and competitive system, whether as stand-alone "Great American" outlets
or as co-branded outlets with one or more other brands approved by NexCen.
Therefore, NexCen or its Affiliate, as applicable, agrees to maintain the
primary GACC products (the "Products")
and
primary marks and designs associated with the GAC Brands (the "Marks")
for
three (3) years following the Closing (the “Brand
Maintenance Period”).
After
the Brand Maintenance Period, NexCen or its Affiliate, as applicable, agrees
to
maintain the Products and Marks, unless NexCen or its Affiliate, as applicable,
(i) determines in good faith that changes to the Products and/or the Marks
are
necessary in order to satisfy then-current market demands; (ii) proposes to
sell
or otherwise transfer, in a single transaction or series of transactions, to
an
unaffiliated party all, or substantially all, of the rights related to the
GAC
Franchise, including the Products and/or Marks; or (iii) obtains the approval
of
any changes to the Products and/or Marks from either (A) the GACC Association
or
(B) the owners of a majority of franchised Great American Cookie outlets;
provided,
that
NexCen and the GACC Association agree to meet and discuss in good faith any
proposed change to the Products and/or the Marks as set forth in Section 5(d)(i)
or Section 5(d)(iii) above; provided,
further,
that,
after the Brand Maintenance Period, NexCen or its Affiliate, as applicable,
will
use their good faith efforts to provide the GACC Association with ninety (90)
days notice prior to any change to the Products and/or Marks. Notwithstanding
anything to the contrary, NexCen agrees to meet in good faith with the Executive
Committee of the GACC Association to discuss any disposition of the GAC
Franchise pursuant to Section 5(d)(ii) above; provided,
that
each member of the Executive Committee of the GACC Association enter into a
non-disclosure agreement reasonably satisfactory to NexCen prior to any
meetings; provided,
further,
that
NexCen shall not be required to meet with the Executive Committee of the GACC
Association if NexCen is advised by counsel that such meeting would breach
any
obligation or applicable law or other directive to which NexCen is
subject.
(e) The
profit margin for the batter facility that will be provided to each Franchisee
by NexCen or its Affiliates for use in the GAC Franchise will remain at forty
percent (40%) or less for the two (2) years following the Closing. For purposes
of the foregoing, it is agreed that costs taken into account shall consist
of
only ingredients, utilities, labor and other direct or indirect costs. The
compliance of NexCen or its Affiliates, as applicable, with this Section 5(e)
will be subject to verification, upon at least sixty (60) days prior written
request by the GACC Association, by NexCen’s independent auditors in connection
with their annual audit of NexCen’s financial statements.
5
(f) Notwithstanding
anything set forth in Section 9 of the Warrant, the Company shall use its
reasonable good faith efforts to effect the registration of the Warrant Shares
(as defined in the Warrant) on the Registration Statement on Form S-3 that
will
be filed in connection with certain shares of NexCen being offered to the
sellers under the Asset Purchase Agreement.
6. Franchisee
Undertakings.
Notwithstanding anything set forth in any GAC Franchise Agreement, each
Franchisee agrees that on the tenth day of each month following the Closing
Date
(each a "Payment
Date")
until
the sixtieth (60th) month
following the Closing Date, each Franchisee shall pay to NexCen or its
Affiliates, an increased royalty payment under each GAC Franchise Agreement
(each, an "Increased
Royalty Payment").
The
Increased Royalty Payment shall be payable by each Franchisee on each Payment
Date, by electronic funds transfer which will be drafted by NexCen along with
the monthly royalty fee then due, and the amount due from each Franchisee on
each Payment Date shall equal one-sixtieth (1/60) of such Franchisee's Royalty
Payment received by such Franchisee. Notwithstanding anything to the contrary
set forth herein or in any GAC Franchise Agreement, if a Franchisee ceases
to be
a party to a GAC Franchise Agreement in effect as of the date hereof, such
Franchisee shall immediately pay NexCen an amount equal to the difference
between (x) such Franchisee's Royalty Payment in respect to such GAC Franchise
Agreement minus
(y) any
Increased Royalty Payments previously made by such Franchisee under this Section
6 in respect to such GAC Franchise Agreement.
7. Franchisee
Representations and Warranties.
(a) Each
Franchisee and each Franchisee Principal hereby represents and warrants that
(i)
this Agreement has been approved by all necessary action required to make it
a
valid and binding obligation of such Franchisee, such Franchisee Principal
and
all the other members of the Releasor Group, as the case may be, (ii) this
Agreement is the valid, binding and legal obligation of such Franchisee, such
Franchisee Principal and all other members of the Releasor Group, as the case
may be, (iii) such Franchisee or Franchisee Principal, as the case may be,
is
acquiring the Warrants solely for its own account for investment purposes and
not with a view to the distribution thereof.
(b)
Each
Franchisee, either alone or together with its respective Purchaser
Representative, has received certain information, including but not limited
to
the Settlement and Release Disclosure Package and Memorandum dated December
13,
2007, concerning NexCen and has had the opportunity to obtain additional
information and ask any questions it has desired in order to evaluate the merits
and risks inherent in receiving the Warrants.
(c) No
Franchisee was offered or sold the Warrants directly or indirectly, by means
of
any form of general advertising or general solicitation, including, but not
limited to (i) any advertisement, article, notice, or other communication
published in a newspaper, magazine, or similar medium of communication or
broadcast over television or radio; or (ii) to the knowledge of such Franchisee,
any seminar or meeting whose attendees have been invited by any general
solicitation or general advertising.
(d) Each
Franchisee (i) can bear the economic risk of the investment in the Warrants,
including the total loss of such Franchisee’s investment; (ii) has such
knowledge and experience in business and financial matters as to be capable
of
evaluating the merits and risks of an investment in the Warrants; and (iii)
understands the non-liquid nature of an investment in the Warrants. Each
Franchisee acknowledges and understands that the Warrants are a speculative
investment that involve a high degree of risk and there can be no guarantee
of
the amount or type of profit, if any, to be realized as a result of an
investment in the Warrants.
(e) Each
Franchisee acknowledges that NexCen is relying on exemptions from the
registration requirements of the Securities Act and afforded by applicable
state
statutes and regulations. Each Franchisee understands that the Warrants will
not
be registered under the Securities Act or the securities laws of any state
and
are subject to restrictions on transfer.
6
(f) No
Franchisee that is a corporation, partnership or other entity was organized
for
the specific purpose of acquiring the Warrants.
(g) Each
Accredited Franchisee represents and warrants that it is an “accredited
investor,” as defined in Regulation D promulgated under the Securities
Act.
8. Purchaser
Representative.
Each
Other Franchisee hereby represents and warrants that it has irrevocably
designated and appointed the person set forth opposite such Other Franchisee’s
name on Schedule II hereto as its Purchaser Representative. Each Other
Franchisee intends to rely on its respective Purchaser Representative to assist
the undersigned in evaluating the risks and merits of an investment in the
Warrants.
9. Miscellaneous.
This
Agreement may be executed in one or more counterparts, may not be changed orally
and is made and shall be governed by and construed in all respects in accordance
with the laws of the State of Delaware, without regard to the principles of
conflicts of laws thereof which might refer such interpretation to the laws
of a
different state or jurisdiction. This Agreement benefits and binds the parties
hereto and, subject to Section 4, their respective successors and assigns.
Notices hereunder shall be in writing and addressed to the address indicated
below or to such other address as the intended recipient has specified in
writing, and (assuming actual receipt) are deemed given when delivered in
person, one business day after being sent by telecopier or by overnight express
mail service, or four (4) Business Days after being sent by mail. All disputes
arising in connection with the interpretation, performance and enforcement
of
this Agreement shall be resolved through binding arbitration under the Federal
Arbitration Act and conducted by the American Arbitration Association under
its
rules for commercial arbitration, provided that the arbitrator may award
reasonable fees and costs to the prevailing party. Arbitration shall take place
in the state where the respondent's principal place of business is located.
Except as expressly provided herein to the contrary, each GAC Franchise
Agreement shall remain in full force and effect in accordance with and subject
to its respective terms and conditions. Nothing in this Settlement and Release
Agreement alters the terms or status of any agreement of any Great American
franchisee who is not party to this Agreement. The GACC Association is an
intended third party beneficiary of Section 5 of this Agreement.
7
IN
WITNESS WHEREOF, the parties have duly executed this Agreement as of the date
first above written.
NEXCEN BRANDS, INC., | |||
a Delaware corporation | |||
|
By:
|
/s/
Xxxxxx X’Xxxxx
|
|
Name:
Xxxxxx X’Xxxxx
|
|||
Title:
President
and Chief Executive Officer
|
|||
GREAT AMERICAN COOKIE COMPANY FRANCHISING, LLC, | |||
a Delaware limited liability company | |||
|
By: |
/s/
Xxxxxxx Xxxx
|
|
Name:
Xxxxxxx
Xxxx
|
|||
Title:
Executive
Vice President
|
|||
XXX. XXXXXX FAMOUS BRANDS, LLC, | |||
a Delaware limited liability company | |||
|
By:
|
/s/
Xxxxxxx Xxxx
|
|
Name:
Xxxxxxx
Xxxx
|
|||
Title:
Executive
Vice President
|
|||
XXX. XXXXXX' ORIGINAL COOKIES, INC., | |||
a Delaware corporation | |||
|
By:
|
/s/
Xxxxxxx Xxxx
|
|
Name:
Xxxxxxx
Xxxx
|
|||
Title:
Executive
Vice President
|
BATCHES OF COOKIES, INC. | |||
By: | /s/ Xxxxxxx Xxxxx | ||
Name: Xxxxxxx Xxxxx | |||
Title: President |
D&J ALL CORPORATION | |||
By: | /s/ Xxxxxxx Xxxxx | ||
Name: Xxxxxxx Xxxxx | |||
Title: President |
DPD COOKIES OF ORLANDO, INC. | |||
By: | /s/ Xxxxx X. Xxxxxx | ||
Name: Xxxxx X. Xxxxxx | |||
Title: President |
WOLFTEAM
LLC
|
|||
By: | /s/ Xxxx Xxxxx | ||
Name: Xxxx Xxxxx | |||
Title: Owner |
XXXXXXXX ENTERPRISES, INC. | |||
By: | /s/ Xxxxx Xxxxxxxx | ||
Name: Xxxxx Xxxxxxxx | |||
Title: Owner/President |
XXXXXX COOKIE CO., INC. | |||
By: | /s/ Xxxxxx Xxxxxxxxx | ||
Name: Xxxxxx Xxxxxxxxx | |||
Title: X.X. |
XXXXXX COOKIE CO., LP | |||
By: | /s/ X.X. Xxxxxx XX | ||
Name: X.X. Xxxxxx XX | |||
Title: CEO |
J-TEAM, INC. | |||
By: | /s/ D. Xxxxx Xxxxx | ||
Name: D. Xxxxx Xxxxx | |||
Title:
President
|
|||
By: | /s/ Xxxxx X. Xxxxx | ||
Name: Xxxxx X. Xxxxx | |||
Title: Partner |
J-TEAM
AND RUPPS (GENERAL
PARTNERSHIP) |
|||
By: | /s/ D. Xxxxx Xxxxx | ||
Name:
D. Xxxxx Xxxxx
|
|||
Title: President | |||
|
By:
|
/s/ Xxxxx X. Xxxxx | |
Name: Xxxxx X. Xxxxx | |||
Title: Partner | |||
By: | /s/ Xxxx X. Xxxx | ||
Name: Xxxx X. Xxxx | |||
Title: Partner | |||
By: | /s/ Xxx X. Xxxx | ||
Name: Xxx X. Xxxx | |||
Title: Partner |
/s/ Xxx Xxxxxx | |||
XXX XXXXXX | |||
/s/ Xxxxx Xxxxxx | |||
XXXXX XXXXXX |
THE COOKIE PLACE, INC. | |||
By: | /s/ Xxxx Xxxxxx | ||
Name: Xxxx
Xxxxxx
|
|||
Title: President |
TEXAS STAR COOKIE CO LLC | |||
By: | /s/ Xxxxxx Xxxxx Xxxxx | ||
Name: Texas Star Cookie Co. LLC | |||
Title: Owner/Franchisee |
XXXXXX ENTERPRISES II, INC. | |||
By: |
/s/Xxxx
X. Xxxxxxxx Xx.
|
||
Name: Xxxx X. Xxxxxxxx Xx. | |||
Title: President |
COOKIE XXXXX PARTNERS, LP | |||
By: | /s/ Xxxxxxx X. Xxxxxxx | ||
Name: Xxxxxxx X. Xxxxxxx | |||
Title: Franchisees | |||
By: | /s/ Xxxxxxx X. Xxxxxxx | ||
Name: Xxxxxxx X. Xxxxxxx | |||
Title: Franchisees |
SAC ENTREPRENEURS PARTNERS LTD. | |||
By: | /s/ Xxxxx Xxxxxx | ||
Name: Xxxxx Xxxxxx | |||
Title: General Partner |
DOUGH ROLLERS TOO, LLC | |||
By: | /s/ Xxxxxx Xxx | ||
Name: Xxxxxx Xxx | |||
Title: President |
DOUGH ROLLERS, LTD. | |||
By: | /s/ Xxxxx Xxxxxx | ||
Name:
Xxxxx Xxxxxx
|
|||
Title: General Partner |
BATTER UP, LLC | |||
By: | /s/ Xxxxx Xxxxxx | ||
Name: Xxxxx Xxxxxx | |||
Title: V.P. |
ROLLING IN DOUGH COOKIE CO. | |||
By: | /s/ Xxxxxxxxx Xxxxx | ||
Name: Xxxxxxxxx Xxxxx | |||
Title: Vice President |
HEM CHELA CORP. | |||
By: | /s/ Xxxxx Xxxxxxx | ||
Name: Xxxxx Xxxxxxx | |||
Title: President | |||
By: | /s/ Xxxxx Xxxxxxx | ||
Name: Xxxxx Xxxxxxx | |||
Title: V.P. |
MUBARAK INVESTMENTS CORP. | |||
By: | /s/ Xxxxxx Daharani | ||
Name: S. Daharani | |||
Title: President |
BARAKAH, INC. | |||
By: | /s/ Xxxxxx Daharani | ||
Name: S. Daharani | |||
Title: President |
CACTUS
COOKIES, INC.
|
|||
By: | /s/ Xxxxxxx X. Xxxxxxx | ||
Name: Xxxxxxx X. Xxxxxxx | |||
Title: President |
XXXXX
COOKIE STORES LTD.
|
|||
By: | /s/ X. X. Xxxxx | ||
Name: | |||
Title: President |
COOKIE
ASSOCIATES, LTD.
|
|||
By: | Doc & Associates, Ltd., its General Partner | ||
By: | LJC Management, Inc., its General Partner | ||
By: | /s/ Xxxxxxxx X. Xxxxx | ||
Name: Xxxxxxxx X. Xxxxx | |||
Title: President |