Krispy Kreme has agreed to an equity-based "success fee" with turnaround firm Kroll Zolfo Cooper in the US. The company said that Kroll Zolfo Cooper would receive a warrant for 1.2 million shares of Krispy Kreme common stock at $7.75 (£4.4) a share, a total of $9.3m. The warrant can be exercised after either 29 January 2006, or 30 days following the appointment of a chief executive to replace Stephen Cooper, chairman of Kroll Zolfo Cooper and interim chief executive at Krispy Kreme, the company said.