----

----

----

----

----

----

----

----

----

----

|         |                                        |                             |
|--------------|---------------------------------------------|----------------------------------|
|         | EL                POLLO LOCO, INC.          |
|    |                                   |                        |
|              | By:                               | /s/              Joseph N. Stein |
|         | Name:              Joseph N. Stein          |
|         | Title:              Chief Financial Officer |

|         |                                         |                                             |
|--------------|----------------------------------------------|--------------------------------------------------|
|         | CHICKEN                    ACQUISITION CORP. |
|    |                                    |                                        |
|              | By:                                | /s/                Dean                C. Kehler |
|         | Name:                Dean C. Kehler          |
|         | Title:                Vice President         |

|         |                                     |                                         |
|--------------|------------------------------------------|----------------------------------------------|
|         | TRIMARAN                    FUND II, LLC |
|    |                                |                                    |
|              | By:                            | /s/              Dean              C. Kehler |
|         | Name:              Dean C. Kehler        |
|         | Title:                                   |

----

**Promissory      Note**

**Term      Sheet**

| Issuer                          |   | CAC                or the Company, at Provider's option                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|---------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Term                            |   | 2                Years                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Principal                Amount |   | As                elected pursuant to Section 1(c) of the Fee Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|                            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Interest                        |   | 13.25%                compounded annually, which rate shall increase by 0.50% per calendar                quarter (with the first such increase occurring at the beginning                of the                second calendar quarter after Closing) up to a maximum rate of 17.5%                per                annum. Interest shall be paid quarterly at Provider's option, either                in:                (i) cash, (ii) a promissory note having substantially similar terms                to                those set forth in this Exhibit A (iii) Convertible Preferred Stock                of CAC                at a price of $43.22 per share on terms substantially similar to                those set                forth in Exhibit B of the Fee Agreement, or (iv) Common Stock of                CAC at a                price of $43.22 per share. |
|                            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Conversion                      |   | The                outstanding principal amount of the promissory note plus any accrued                but                unpaid interest shall be convertible, in whole or in part, into,                at                Provider's option, (i) shares of Convertible Preferred Stock of CAC,                at a                price of $43.22 per share on terms substantially similar to those                set                forth in Exhibit B of the Fee Agreement, or (ii) Common Stock of                CAC at a                price of $43.22 per share.                                                                                                                                                                                                                                                                                                              |
|                            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Covenants/Defaults              |   | Cross                default with credit agreement and                bonds.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |

----

**Convertible      Preferred Stock**

**Term      Sheet**

| Issuer                                |   | CAC                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|---------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                  |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Security                              |   | Convertible                Preferred Stock                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|                                  |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Original                Issue Price   |   | $43.22                per share. For purposes of this Term Sheet, the aggregate price for                all                shares of Convertible Preferred Stock issued at a Closing shall be                the                "Preferred Investment Amount."                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|                                  |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Voting                Rights          |   | Right                to vote with the Common Stock on an As-Converted Basis. See Protective                Covenants below.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                  |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Dividend                              |   | Each                share of Convertible Preferred Stock will accrue a dividend, to be                paid                quarterly, equal to 13.25% per annum of the Original Issue Price,                compounded annually, which rate shall increase by 0.50% per calendar                quarter (with the first such increase occurring at the beginning                of the                second calendar quarter after the issuance of such share of Convertible                Preferred Stock) up to a maximum rate of 17.5% per annum.  The                Convertible Preferred Stock will participate on an As-Converted Basis                in                any dividends paid on the Common Stock.                                                                                                                                                                             |
|                                  |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| "As                Converted Basis"   |   | "As-Converted                Basis" means that Provider will for the relevant purpose be deemed                to hold                the number of shares of Common Stock that it would be entitled to                receive                if its Convertible Preferred Stock had been converted to Common Stock                pursuant to its conversion right on or prior to the relevant                date.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                                  |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Liquidation                Preference |   | Convertible                Preferred Stock shall have a liquidation preference to Common Stock                equal                to the greater of its Original Issue Price or what the Convertible                Preferred Stock would receive on an As Converted Basis upon liquidation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                                  |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Conversion                            |   | Each                share of Convertible Preferred Stock will be convertible at any time                into,                at Provider's option, (i) a number of shares of Common Stock equal                to the                quotient of the Original Issue Price plus any accrued but unpaid                dividends                for the Convertible Preferred Stock divided by $43.22, subject to                anti-dilution protection or (ii) a Promissory Note for an amount                equal to                the aggregate Original Issue Price for any shares of Convertible                Preferred                Stock so converted plus the aggregate of any accrued and unpaid dividends                on such shares of Convertible Preferred Stock on terms substantially                similar to those set forth in Exhibit B to the Fee                Agreement. |

----

| Anti-Dilution                Protection                       |   | Customary                weighted average anti-dilution adjustments.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|---------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Ranking                                                       |   | Subordinated                and junior to indebtedness, senior to all other capital                stock.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Protective                Covenants                           |   | Customary                protective covenants, including: The consent of the holders of Convertible                Preferred Stock will be required for any action that would (i) alter                the                rights, preferences or privileges of the Convertible Preferred Stock;                (ii)                amend any provision of CAC's certificate of incorporation or by-laws                relative to the Convertible Preferred Stock; (iii) increase or decrease                the number of issued or authorized shares of Convertible Preferred                Stock;                (iv) create any series or class of shares having a preference or                priority                as to dividends or assets superior to or on a parity with that of                the                Convertible Preferred Stock, (v) constitute a sale, lease, pledge                or other                disposal of all or substantially all the assets of CAC or a merger,                reorganization or similar transaction, or (vi) constitute a repurchase                or                redemption of other equity securities. |
|                                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Registration                Rights                            |   | Customary                rights, as set forth in the Stockholders Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Tag-Along,                Drag Along, Preemptive Rights, ROFR |   | Customary                rights, as set forth in the Stockholders Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |

----

**Common      Stock**

----