EX-10.25



 Exhibit 10.25 
 BURGER KING WORLDWIDE, INC. 
 2012 OMNIBUS INCENTIVE PLAN 

OPTION AWARD AGREEMENT 
 Unless defined in this Option Award Agreement (this “Award Agreement”), capitalized terms will have the same meanings ascribed to them in the Burger King Worldwide, Inc. 2012 Omnibus
Incentive Plan (as may be amended from time to time, the “Plan”). 
 Pursuant to Section 6 of the Plan,
you have been granted a Non-Qualified Stock Option (the “Option”) on the following terms and subject to the provisions of the Plan, which is incorporated herein by reference. In the event of a conflict between the provisions of the
Plan and this Award Agreement, the provisions of the Plan will govern. 
  

			
	 Total Number of Shares Underlying Options:
	  	[                ] Shares
		
	 Exercise Price per Share:
	  	$[        ] per Share
		
	 Grant Date:
	  	March 1, 2013
		
	 Expiration Date:
	  	February 28, 2023
		
	 Vesting Date:
	  	March 1, 2018, subject to your continued Service through the Vesting Date and further subject to the Section entitled “Termination” in Exhibit
A.

 By execution of this Award Agreement, you and the Company agree that this Option is granted under and
governed by the terms and conditions of the Plan and the terms and conditions set forth in the attached as Exhibit A. 
  

									
	PARTICIPANT	 		 	BURGER KING WORLDWIDE, INC.
				
	  
	 		 	By:	 	  

	Name:	 		 		 		 	Name:
		 		 		 		 	Title:


  
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 EXHIBIT A 
 TERMS AND CONDITIONS OF THE 
 OPTION AWARD AGREEMENT 

Vesting. 
 This
Option will vest and become exercisable on the “Vesting Date” set forth in this Award Agreement. Any portion of this Option that becomes exercisable in accordance with the foregoing will remain exercisable until the Expiration Date, unless
earlier terminated pursuant to the Plan or this Award Agreement (including, without limitation, the section below entitled “Termination”). Subject to the section below entitled “Termination,” this Option may be exercised only
while you are employed by the Company or any of its Affiliates. Prior to the exercise of this Option, you will not have any rights of a shareholder with respect to this Option or the Shares subject thereto. 

Method of Exercise. 
 This Option will be exercisable pursuant to procedures approved by the Committee and communicated to you. No Shares will be delivered pursuant to the exercise of this Option unless (i) you have
complied with your obligations under this Award Agreement, (ii) the exercise of this Option and the delivery of such Shares complies with applicable law, and (iii) full payment (or satisfactory provision therefor) of the aggregate exercise
price of the Option and any Tax-Related Items (as defined below) have been received by the Company. Until such time as the Shares are delivered to you (as evidenced by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company), you will have no right to vote or receive dividends or any other rights as a shareholder with respect to such Shares, notwithstanding the exercise of this Option. 

Adjustment for Certain Events. 
 If and to the extent that it would not cause a violation of Section 409A of the Code or other applicable law, if any of the events described in Section 5(d) of the Plan shall occur, the
Committee shall make an adjustment as described in such Section 5(d) to prevent dilution or enlargement of the benefits provided under this Option. 
 Termination. 
 Upon termination of your Service (other than as set
forth below) prior to the Vesting Date, you will forfeit this Option without any consideration due to you. 
 If your Service
terminates prior to the Vesting Date Without Cause (as defined below) or by reason of your death, Retirement or Disability (as defined below), you (or, if applicable, such other person who is entitled to exercise this Option) shall be vested in the
number of Shares as if the Shares subject to the Option vested 20% on each of 

  
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March 1, 2014, March 1, 2015, March 1, 2016, March 1, 2017 and March 1, 2018, respectively, and you (or, if applicable, such other person who is entitled
to exercise this Option) may exercise the Option to the extent vested on the date of termination of your Service as provided for below. 
 Subject to any terms and conditions that the Committee may impose in accordance with Section 13 of the Plan, in the event that a Change in Control occurs and, within twelve (12) months following
the date of such Change in Control, your Service is terminated by the Company Without Cause (as defined herein), this Option shall vest in full upon such termination. In the event that there is a conflict between the terms of this Award Agreement
regarding the effect of a Change in Control on this Option and the terms of any Employment Agreement, the terms of this Option Award Agreement will govern. 
 To the extent this Option is or becomes exercisable on the date of termination of your Service, then, if you (or, if applicable, such other person who is entitled to exercise this Option) do not exercise
this Option on or prior to the expiration of the Option Exercise Period (as set forth below), this Option will terminate. In no event may you exercise this Option after the Expiration Date. 

 

			
	 Type of Termination
	  	 Option Exercise Period

		
	Without Cause	  	90 day period beginning on the date of termination
		
	Resignation	  	90 day period beginning on the date of termination
		
	Retirement	  	One year period beginning on the date of termination
		
	Disability	  	One year period beginning on the date of termination
		
	Death	  	One year period beginning on the date of termination
		
	For Cause	  	None, the Option expires immediately

 The date of termination of your Service will not be extended by any notice period mandated under local
law (e.g., active employment would not include a period of “garden leave” or similar period pursuant to local law). The Committee shall have the exclusive discretion to determine the date of termination of your Service for purposes
of this Option. 

  
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 In the event that there is a conflict between the terms of this Award Agreement regarding
the effect of a termination of your Service on this Option and the terms of any Employment Agreement, the terms of your Employment Agreement will govern. 
 For purposes of this Award Agreement, the following terms shall have the following meanings: 
 “Cause” means (i) a material breach by you of any of your obligations under any written employment agreement with the Company or any of its Affiliates, (ii) a material violation
by you of any of the policies, procedures, rules and regulations of the Company or any of its Affiliates applicable to employees or other service providers generally or to employees or other service providers at your grade level; (iii) the
failure by you to reasonably and substantially perform your duties to the Company or its Affiliates (other than as a result of physical or mental illness or injury); (iv) your willful misconduct or gross negligence that has caused or is
reasonably expected to result in material injury to the business, reputation or prospects of the Company or any of its Affiliates; (v) your fraud or misappropriation of funds; or (vi) the commission by you of a felony or other serious
crime involving moral turpitude; provided that if you are a party to an Employment Agreement at the time of termination of your Service and such Employment Agreement contains a different definition of “cause” (or any derivation
thereof), the definition in such Employment Agreement will control for purposes of this Award Agreement. 
 If you are
terminated Without Cause and, within the twelve (12) month period subsequent to such termination of your Service, the Company determines that your Service could have been terminated for Cause, subject to anything to the contrary that may be
contained in your Employment Agreement at the time of termination of your Service, your Service will, at the election of the Company, be deemed to have been terminated for Cause, effective as of the date the events giving rise to Cause occurred.

 “Disability” means (i) a physical or mental condition entitling you to benefits under the long-term
disability policy of the Company covering you or (ii) in the absence of any such policy, a physical or mental condition rendering you unable to perform your duties for the Company or any of its Affiliates for a period of six
(6) consecutive months or longer; provided that if you are a party to an Employment Agreement at the time of termination of your Service and such Employment Agreement contains a different definition of “disability” (or any
derivation thereof), the definition in such Employment Agreement will control for purposes of this Award Agreement. 
 “Retirement” means a termination of Service by you on or after the later of (i) your 55th birthday and (ii) your completion of five years of Service with the Company or its Affiliates. 

“Without Cause” means a termination of your Service by you for “Good Reason”, if you have an Employment
Agreement that defines the term “Good Reason”, or by your employer (the “Employer”) other than any such termination by your Employer for Cause or due to your death or Disability; provided that if you are a party to an


  
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Employment Agreement at the time of termination of your Service and such Employment Agreement contains a different definition of “without cause” (or any derivation thereof), the
definition in such Employment Agreement will control for purposes of this Award Agreement. Notwithstanding the foregoing, if you are a party to an Employment Agreement at the time of termination of your Service and such Employment Agreement provides
that a termination of your Service by you for “Good Reason” constitutes termination of your Service “Without Cause”, such termination for Good Reason shall not constitute termination Without Cause for purposes of the acceleration
of your Options following a Change in Control. 
 Taxes. 
 Regardless of any action the Company or your Employer takes with respect to any or all income tax, social security or insurance, payroll tax, payment on account or other tax-related withholding
(“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility and that the Company and/or the Employer (1) make no representations or undertakings
regarding the treatment of any Tax-Related Items in connection with any aspect of the Option grant, including the grant, vesting or exercise of this Option, the subsequent sale of Shares acquired pursuant to such exercise and the receipt of any
dividends; and (2) do not commit to structure the terms of the grant or any aspect of this Option to reduce or eliminate your liability for Tax-Related Items. 
 Prior to exercise of this Option, you will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items. In this regard, you authorize the Company
and/or the Employer to withhold all applicable Tax-Related Items legally payable by you from your wages or other cash compensation paid to you by the Company and/or the Employer or from proceeds of the sale of Shares. Alternatively, or in addition,
if permissible under local law, the Company may in its sole and absolute discretion (1) sell or arrange for the sale of Shares that you acquire to meet the obligation for Tax-Related Items, and/or (2) withhold the amount of Shares
necessary to satisfy the minimum withholding amount. Finally, you will pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold as a result of your participation in the Plan or
your purchase of Shares that cannot be satisfied by the means previously described. The Company may refuse to honor the exercise and refuse to deliver the Shares if you fail to comply with your obligations in connection with the Tax-Related Items as
described in this section. 
 No Guarantee of Continued Service. 

You acknowledge and agree that the vesting of this Option on the Vesting Date is earned only by performing continuing Service (not through
the act of being hired or being granted this Award). You further acknowledge and agree that this Award Agreement, the transactions contemplated hereunder and the Vesting Date shall not be construed as giving you the right to be retained in the
employ of, or to continue to provide Service to, the Company or any Affiliate. Further, the Company or the applicable Affiliate may at any time dismiss you, free from any liability, or any claim under the Plan, unless


  
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otherwise expressly provided in any other agreement binding you, the Company or the applicable Affiliate. The receipt of this Award is not intended to confer any rights on you except as set forth
in this Award Agreement. 
 Termination for Cause; Restrictive Covenants. 

In consideration for the grant of this Option and for other good and valuable consideration, the sufficiency of which is acknowledged by
you, you agree as follows: 
 Upon (i) a termination of your Service for Cause, (ii) a retroactive termination of your
Service for Cause as permitted herein or under your Employment Agreement, or (iii) a violation of any post-termination restrictive covenant (including, without limitation, non-disclosure, non-competition and/or non-solicitation) contained in
your Employment Agreement, any separation or termination or similar agreement you may enter into with the Company or one of its Affiliates in connection with termination of your Service, any Options you hold that are then outstanding shall be
immediately forfeited and the Company may require that you repay (with interest or appreciation (if any), as applicable, determined up to the date payment is made), and you shall promptly repay, to the Company, the Fair Market Value (in cash or in
Shares) of any Shares received upon the exercise of Options during the period beginning on the date that is one year before the date of your termination and ending on the first anniversary of the date of your termination, minus the applicable
exercise price. The Fair Market Value of any such Shares shall be determined as of the date of exercise of such Option. 
 Company’s
Right of Offset. 
 If you become entitled to a distribution of benefits under this Award, and if at such time you have
any outstanding debt, obligation, or other liability representing an amount owing to the Company or any of its Affiliates, then the Company or its Affiliates, upon a determination by the Committee, and to the extent permitted by applicable law and
it would not cause a violation of Section 409A of the Code, may offset such amount so owing against the amount of benefits otherwise distributable. Such determination shall be made by the Committee. 

Acknowledgment of Nature of Award. 
 In accepting this Option, you understand, acknowledge and agree that: 
 (a) the
Plan is established voluntarily by the Company, it is discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time, as provided in the Plan; 

(b) the Option award is voluntary, occasional and discretionary and does not create any contractual or other right to receive future
Option awards, or benefits in lieu of Options even if Options have been awarded repeatedly in the past; 
 (c) all decisions
with respect to future awards, if any, will be at the sole discretion of the Company; 

  
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 (d) your participation in the Plan is voluntary; 

(e) this Option is an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the
Company or to the Employer; 
 (f) this Option is not part of normal or expected compensation or salary for any purposes,
including, but not limited to, calculation of any severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; 

(g) the future value of the underlying Shares is unknown and cannot be predicted with certainty; 

(h) if the underlying Shares do not increase in value, this Option will have no value; 

(i) if you receive Shares, the value of such Shares acquired upon exercise may increase or decrease in value; and 

(j) no claim or entitlement to compensation or damages arises from termination of this Option, and no claim or entitlement to
compensation or damages shall arise from any diminution in value of this Option or Shares received upon exercise of this Option resulting from termination of your Service by the Employer and you irrevocably release the Company, the Employer and all
other Affiliates from any such claim that may arise. 
 Securities Laws. 

By accepting this Option, you acknowledge that federal securities laws and/or the Company’s policies regarding trading in its
securities may limit or restrict your right to buy or sell Shares, including, without limitation, sales of Shares acquired in connection with this Option. You agree to comply with such federal securities law requirements and Company policies, as
such laws and policies are amended from time to time. 
 Data Privacy Notice and Consent. 

You hereby explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of your personal data as
described in this Award Agreement by and among, as applicable, the Employer, the Company, its Subsidiaries and its Affiliates or any third party administrator as designated by the Committee in its sole and absolute discretion for the exclusive
purpose of implementing, administering and managing your participation in the Plan. 
 You understand that the Company, the
Employer and/or any other third party administrator as designated by the Committee in its sole and absolute discretion may hold certain personal information about you, including, but not limited to, your name, home address and telephone number, date
of birth, social insurance or social security number or other identification number, salary, nationality, job title, any shares of stock or 

  
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directorships held in the Company, details of this Option or any other entitlement to Shares awarded, canceled, vested, unvested or outstanding in your favor (“Data”), for the purpose
of implementing, administering and managing the Plan. You understand that Data may be transferred to any third parties assisting in the implementation, administration and management of the Plan, that these recipients may be located in your country,
or elsewhere, and that the recipient’s country may have different data privacy laws and protections than your country. You understand that you may request a list with the names and addresses of any potential recipients of the Data by contacting
your local human resources representative. You authorize the recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing your participation in the Plan,
including any requisite transfer of such Data as may be required to a broker, escrow agent or other third party with whom the Shares received upon exercise of this Option may be deposited. You understand that Data will be held only as long as is
necessary to implement, administer and manage your participation in the Plan. You understand that you may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or
refuse or withdraw the consents herein, in any case without cost, by contacting in writing your local human resources representative. You understand that refusal or withdrawal of consent may affect your ability to participate in the Plan. Further,
you understand that you are providing the consents herein on a purely voluntary basis. If you do not consent, or if you later seek to revoke your consent, your employment status or Service and career with the Employer will not be adversely
affected; the only adverse consequence of refusing or withdrawing your consent is that the Company would not be able to grant you Options or other Awards or administer or maintain such Awards. For more information on the consequences of your refusal
to consent or withdrawal of consent, you understand that you may contact your local human resources representative. 
 Limits on
Transferability; Beneficiaries. 
 This Option shall not be pledged, hypothecated or otherwise encumbered or subject to
any lien, obligation or liability to any party, or Transferred, otherwise than by your will or the laws of descent and distribution or to a Beneficiary upon your death, and this Option shall be exercised during your lifetime only by you or your
guardian or legal representative, except that this Option may be Transferred to one or more Beneficiaries or other Transferees during your lifetime with the consent of the Committee, and may be exercised by such Transferees in accordance with the
terms of this Award Agreement. A Beneficiary, Transferee, or other person claiming any rights under this Award Agreement shall be subject to all terms and conditions of the Plan and this Award Agreement, except as otherwise determined by the
Committee, and to any additional terms and conditions deemed necessary or appropriate by the Committee. 
 No Transfer to any
executor or administrator of your estate or to any Beneficiary by will or the laws of descent and distribution of any rights in respect of this Option shall be effective to bind the Company unless the Committee shall have been furnished with
(i) written notice thereof and with a copy of the will and/or such evidence as the Committee may deem necessary to establish the validity of the Transfer 

  
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and (ii) the written agreement of the Transferee to comply with all the terms and conditions applicable to this Option and any Shares purchased upon exercise of this Option that are or would
have been applicable to you. 
 No Compensation Deferrals. 

It is intended that the Option awarded pursuant to this Award Agreement be exempt from Section 409A of the Code
(“Section 409A”) because it is believed that (i) the Exercise Price per Share may never be less than the Fair Market Value of a Share on the Grant Date and the number of Shares subject to the Option is fixed on the original Grant
Date, (ii) the Transfer or exercise of the Option is subject to taxation under Section 83 of the Code and Treasury Regulation 1.83-7, and (iii) the Option does not include any feature for the deferral of compensation other than the
deferral of recognition of income until the exercise of the Option. The provisions of this Award Agreement shall be interpreted in a manner consistent with this intention. In the event that the Company believes, at any time, that any benefit or
right under this Award Agreement is subject to Section 409A, then the Committee may (acting alone and without any required consent by you) amend this Award Agreement in such manner as the Committee deems necessary or appropriate to be exempt
from or otherwise comply with the requirements of Section 409A (including without limitation, amending the Award Agreement to increase the Exercise Price per Share to such amount as may be required in order for the Option to be exempt from
Section 409A). 
 Notwithstanding the foregoing, the Company does not make any representation to you that the Option
awarded pursuant to this Agreement is exempt from, or satisfies, the requirements of Section 409A, and the Company shall have no liability or other obligation to indemnify or hold harmless you or any Beneficiary for any tax, additional tax,
interest or penalties that you or any Beneficiary may incur in the event that any provision of this Agreement, or any amendment or modification thereof or any other action taken with respect thereto, is deemed to violate any of the requirements of
Section 409A. 
 Entire Agreement; Governing Law; Jurisdiction; Waiver of Jury Trial. 

The Plan, this Award Agreement and, to the extent applicable, your Employment Agreement or any separation agreement constitute the entire
agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings, representations and agreements (whether oral or written) of the Company and you with respect to the subject matter hereof.
This Award Agreement may not be modified in a manner that adversely affects your rights heretofore granted under the Plan, except with your consent or to comply with applicable law or to the extent permitted under other provisions of the Plan. This
Award Agreement is governed by the laws of the State of Delaware, without regard to its principles of conflict of laws. 
 ANY
ACTION OR PROCEEDING AGAINST THE PARTIES RELATING IN ANY WAY TO THIS AGREEMENT MAY BE BROUGHT EXCLUSIVELY IN THE COURTS OF THE STATE OF FLORIDA OR (TO THE EXTENT SUBJECT MATTER 

  
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JURISDICTION EXISTS THEREFORE) THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF FLORIDA, AND YOU IRREVOCABLY SUBMIT TO THE JURISDICTION OF BOTH SUCH COURTS IN RESPECT OF ANY SUCH ACTION OR
PROCEEDING. ANY ACTIONS OR PROCEEDINGS TO ENFORCE A JUDGMENT ISSUED BY ONE OF THE FOREGOING COURTS MAY BE ENFORCED IN ANY JURISDICTION. 
 TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, YOU HEREBY WAIVE, AND COVENANT THAT YOU WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE), ANY RIGHT TO TRIAL BY JURY IN
ANY FORUM IN RESPECT OF ANY ISSUE, CLAIM OR PROCEEDING ARISING OUT OF THIS AGREEMENT OR THE SUBJECT MATTER HEREOF, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING AND WHETHER IN CONTRACT, TORT OR OTHERWISE. 

By signing this Award Agreement, you acknowledge receipt of a copy of the Plan and represent that you are familiar with the terms and
conditions of the Plan, and hereby accept this Award subject to all provisions in this Award Agreement and in the Plan. You hereby agree to accept as final, conclusive and binding all decisions or interpretations of the Committee upon any questions
arising under the Plan or this Award Agreement. 
 Electronic Delivery. 

The Company may, in its sole discretion, decide to deliver any documents related to this Option or future options that may be awarded
under the Plan by electronic means or request your consent to participate in the Plan by electronic means. You hereby consent to receive such documents by electronic delivery and agree to participate in the Plan through an on-line or electronic
system established and maintained by the Company or a third party designated by the Company. 
 Agreement Severable. 

In the event that any provision in this Award Agreement will be held invalid or unenforceable, such provision will be severable from, and
such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Award Agreement. 

Language. 
 If you
have received this Award Agreement or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.

 Appendix A. 
 Notwithstanding any provision in this Award Agreement, if you work or reside outside the U.S., this Option grant shall be subject to the general non-U.S. terms and


  
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conditions and the special terms and conditions for your country set forth in Appendix A. Moreover, if you relocate from the U.S. to one of the countries included in Appendix A or you move
between countries included in Appendix A, the general non-U.S. terms and conditions and the special terms and conditions for such country will apply to you, to the extent the Company determines that the application of such terms and conditions is
necessary or advisable for legal or administrative reasons. The Appendix A constitutes part of this Award Agreement. 

  
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 APPENDIX A 

ADDITIONAL TERMS AND CONDITIONS OF THE 
 BURGER KING WORLDWIDE, INC. 
 2012 OMNIBUS INCENTIVE PLAN 

OPTION AWARD AGREEMENT FOR NON-U.S. PARTICIPANTS 
 TERMS AND CONDITIONS 
 This Appendix A includes additional terms and conditions that govern
this Option granted to you under the Plan if you work or reside outside the U.S. and/or in one of the countries listed below. Certain capitalized terms used but not defined in this Appendix A have the meanings set forth in the 2012 Omnibus Incentive
Plan and/or the Award Agreement. 
 If you are a citizen or resident of a country other than the one in which you are currently working,
transfer employment to another country after this Option is granted to you, or are considered a resident of another country for local law purposes, the terms and conditions contained herein may not be applicable to you, and the Company shall, in its
discretion, determine to what extent the terms and conditions contained herein shall apply to you. 
 NOTIFICATIONS 

This Appendix A also includes information regarding exchange controls and certain other issues of which you should be aware with respect to participation
in the Plan. The information is based on the securities, exchange control, and other laws in effect in the respective countries as of February 2013. Such laws are often complex and change frequently. As a result, the Company strongly recommends that
you not rely on the information in this Appendix A as the only source of information relating to the consequences of your participation in the Plan because the information may be out of date at the time you vest in or exercise this Option or sell
Shares acquired under the Plan. 
 In addition, the information contained herein is general in nature and may not apply to your particular
situation, and the Company is not in a position to assure you of a particular result. Accordingly, you are advised to seek appropriate professional advice as to how the relevant laws in your country may apply to your situation. 

Finally, if you are a citizen or resident of a country other than the one in which you are currently working, transfer employment after this Option is
granted or are considered a resident of another country for local law purposes, the notifications contained herein may not be applicable to you in the same manner. 

  
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 GENERAL NON-U.S. TERMS AND CONDITIONS 
 TERMS AND CONDITIONS 
 The following terms and conditions apply to you if you are located
outside of the U.S. 
 Entire Agreement. 
 The following provisions supplement the entire Award Agreement, generally: 
 If you are located
outside the U.S., in no event will any aspect of this Option be determined in accordance with your Employment Agreement (or other Service contract). The terms and conditions of this Option will be solely determined in accordance with the provisions
of the Plan and the Award Agreement, including this Appendix A, which supersede and replace any prior agreement, either written or verbal (including your Employment Agreement, if applicable) in relation to this Option. 

Termination. 
 The following
provision supplements the Termination section of the Award Agreement: 
 Notwithstanding the provisions governing the treatment of this
Option upon termination due to Retirement set forth in the Termination section of the Award Agreement, if the Company receives an opinion of counsel that there has been a legal judgment and/or legal development in a particular jurisdiction that
would likely result in the treatment in case of a termination due to Retirement as set forth in the Award Agreement being deemed unlawful and/or discriminatory, then the Company will not apply the provisions for termination due to Retirement at the
time of you cease to provide Services and this Option will be treated as it would under the rules that apply if your Service ends for resignation. 
 Termination for Cause. 
 The Termination for Cause section of the Award
Agreement shall only be enforced, to the extent deemed permissible under applicable local law, as determined in the sole discretion of the Committee. 
 Taxes. 
 The following provisions supplement the Taxes section of the Award
Agreement: 
 You acknowledge that your liability for Tax-Related Items may exceed the amount withheld by the Company and/or the Employer.

 If you have become subject to tax in more than one jurisdiction between the Grant Date and the date of any relevant taxable or tax
withholding event, as applicable, you acknowledge that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. 

To avoid any negative accounting treatment, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory
withholding amounts or 

  
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other applicable withholding rates. If the obligation for Tax-Related Items is satisfied by withholding in Shares, for tax purposes, you are deemed to have been issued the full number of Shares
subject to the exercised Option, notwithstanding that a number of Shares are held back solely for the purpose of paying the Tax-Related Items due as a result of any aspect of your participation in the Plan. 

Limits on Transferability; Beneficiaries. 
 The following provision supplements the Limits on Transferability; Beneficiaries section of the Award Agreement: 
 If you are located outside the U.S., this Option may not be Transferred to a designated Beneficiary and may only be Transferred upon your death to your legal heirs in accordance with applicable laws of
descent and distribution. In no case may this Option be Transferred to another individual during your lifetime. 
 Acknowledgement of
Nature of Award. 
 The following provisions supplement the Acknowledgment of Nature of Award section of the Award Agreement:

 You acknowledge the following with respect to this Option: 
 (a) This Option and any Shares acquired under the Plan are not intended to replace any pension rights or compensation. 
 (b) In no event should this Option or any Shares acquired under the Plan be considered as compensation for, or relating in any way to, past services for the Company, the Employer or any Affiliate.

 (c) Neither the Company, the Employer nor any Affiliate shall be liable for any foreign exchange rate fluctuation between
your local currency and the United States Dollar that may affect the value of this Option or of any amounts due to your pursuant to exercise of this Option or the subsequent sale of any Shares acquired upon exercise. 

No Advice Regarding Award. 
 The
Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding your participation in the Plan, or your acquisition or sale of the underlying Shares. You are hereby advised to consult with your
own personal tax, legal and financial advisors regarding your participation in the Plan before taking any action related to the Plan. 

Governing Law. 
 The following
provisions supplement the Governing Law section of the Award Agreement: 
 For purposes of litigating any dispute that arises directly or
indirectly from the relationship of the parties evidenced by this grant or the Award Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of the State of Florida and agree that such litigation shall be conducted only in
the court of Miami-Dade County, Florida, or the federal courts for the United States for the Southern District of Florida, and no other courts, where this grant is made and/or to be performed. 

  
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 Imposition of Other Requirements. 
 The Company reserves the right to impose other requirements on your participation in the Plan, on this Option and on any Shares purchased upon exercise of this Option, to the extent the Company determines
it is necessary or advisable in order to comply with local law or facilitate the administration of the Plan, and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. 

Waiver. 
 You acknowledge that a
waiver by the Company or breach of any provision of the Award Agreement shall not operate or be construed as a waiver of any other provision of the Award Agreement, or of any subsequent breach by you or any other Participant. 

COUNTRY-SPECIFIC TERMS AND CONDITIONS/NOTIFICATIONS 
 BRAZIL 
 TERMS AND CONDITIONS 

Compliance with Law. 
 By accepting
this Option you acknowledge that you agree to comply with applicable Brazilian laws and pay any and all applicable taxes legally due by you associated with the exercise of this Option, the receipt of any dividends, and the sale of Shares acquired
under the Plan. 
 NOTIFICATIONS 

Exchange Control Information. 
 If
you are resident or domiciled in Brazil, you will be required to submit annually a declaration of assets and rights held outside of Brazil to the Central Bank of Brazil if the aggregate value of such assets and rights is equal to or greater than
US$100,000. Assets and rights that must be reported include Shares. 
 CANADA 
 TERMS AND CONDITIONS 
 Form of Payment. 

Notwithstanding anything in the Plan or the Award Agreement to the contrary, you are prohibited from surrendering Shares that you already own or attesting
to the ownership of Shares to pay the Exercise Price or any Tax-Related Items in connection with this Option. 

  
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 Termination of Service. 
 The following provision supplements the Termination section of the Award Agreement: 
 In
the event of your termination of Service (whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you provide Service or the terms of your Employment Agreement, if any), unless provided otherwise by the
Company: (i) your right to vest in this Option (if any) will terminate effective, and (ii) the period (if any) during which you may exercise the vested Option will commence, as of the earlier of (1) the date the you receive notice of
termination from the Employer, or (2) the date you are no longer actively providing Service, regardless of any notice period or period of pay in lieu of such notice required under applicable laws (including, but not limited to statutory law,
regulatory law and/or common law). 
 The Committee shall have the exclusive discretion to determine when you are no longer actively providing
Service for purposes of this Option. 
 The following terms and conditions apply if you are in Quebec: 

Data Privacy Notice and Consent. 

This provision supplements the Data Privacy section of the Award Agreement: 
 You hereby authorize the Company and the Company’s representatives to discuss with and obtain all relevant information from all personnel, professional or not, involved in the administration and
operation of the Plan. You further authorize the Company and any Subsidiary or Affiliate and the administrator of the Plan to disclose and discuss the Plan with their advisors. You further authorize the Company and any Subsidiary or Affiliate to
record such information and to keep such information in your employee file. 
 French Language Provision. 

The following provisions will apply if you are a resident of Quebec: 
 The parties acknowledge that it is their express wish that the Award Agreement, as well as all documents, notices and legal proceedings entered into, given or instituted pursuant hereto or relating
directly or indirectly hereto, be drawn up in English. 
 Les parties reconnaissent avoir exigé la rédaction en anglais de la
Convention, ainsi que de tous documents, avis et procédures  judiciaires, exécutés, donnés ou intentés en vertu de, ou liés directement ou indirectement à, la présente convention.

 GERMANY 

NOTIFICATIONS 
 Exchange Control
Information. 
 Cross-border payments in excess of €12,500, including any cross-border payments in connection with the Plan, must be
reported monthly to the German Central Bank. You are responsible for complying with the reporting obligations. 

  
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 MEXICO 
 TERMS AND CONDITIONS 
 No Entitlement or Claims for Compensation. 

These provisions supplement the Acknowledgment of Nature of Award section of the Award Agreement including this Appendix A: 

Modification. By accepting this Option, you understand and agree that any modification of the Plan or the Award Agreement or its termination shall
not constitute a change or impairment of the terms and conditions of your employment. 
 Policy Statement. The Award of Options the
Company is making under the Plan is unilateral and discretionary and, therefore, the Company reserves the absolute right to amend it and discontinue it at any time without any liability. 
 The Company, with registered offices at 5500 Blue Lagoon Drive, Miami, Florida 33126 U.S.A., is solely responsible for the administration of the Plan and participation in the Plan and the acquisition of
Shares does not, in any way, establish an employment relationship between you and the Company since you are participating in the Plan on a wholly commercial basis and the sole Employer is Administración de Comidas Rapidas SA de CV, located at
Monte Elbruz No. 132, Piso 10, Colonia Chapultepec Morales, C.F., Mexico 11570 nor does it establish any rights between you and the Employer. 
 Plan Document Acknowledgment. By accepting this Option, you acknowledge that you have received copies of the Plan, have reviewed the Plan and the Award Agreement in their entirety and fully
understand and accept all provisions of the Plan and the Award Agreement. 
 In addition, by accepting the Award Agreement, you further
acknowledge that you have read and specifically and expressly approve the terms and conditions in the Award Agreement, in which the following is clearly described and established: (i) participation in the Plan does not constitute an acquired
right; (ii) the Plan and participation in the Plan is offered by the Company on a wholly discretionary basis; (iii) participation in the Plan is voluntary; and (iv) the Company and any Subsidiary or Affiliates are not responsible for
any decrease in the value of the Shares underlying this Option. 
 Finally, you hereby declare that you do not reserve any action or right to
bring any claim against the Company for any compensation or damages as a result of your participation in the Plan and therefore grant a full and broad release to the Employer, the Company and any Subsidiary or Affiliate with respect to any claim
that may arise under the Plan. 

  
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 TÉRMINOS Y CONDICIONES 
 No existirá derecho o reclamos de indemnización. 
 Estas
disposiciones son complementarias del Contrato: 
 Modificación. Al aceptar las opciones, usted entiende y
acuerda que cualquier modificación al Plan o al Contrato, o su terminación no constituirá un cambio o impedimiento a los términos y condiciones de su empleo. 
 Declaración de Política. La Entrega de Opciones que la compañía hace mediante el Plan, es unilateral y discrecional y, por lo tanto, la
Compañía se reserva el derecho de modificarlo o suspenderlo en cualquier momento, sin asumir ninguna responsabilidad. 
 La
Compañía, con oficinas registradas en el domicilio 5500 Blue Lagoon Drive, Miami, Florida 33126 Estados Unidos de América, es únicamente responsable de la administración del Plan. La participación en el Plan
y la adquisición de Acciones no establece, en ninguna forma, una relación laboral entre usted y la Compañía, puesto que usted está participando en el Plan en un plano meramente comercial y su único
patrón es Administración de Comidas Rapidas SA de CV, located at Monte Elbruz No. 132, Piso 10, Colonia Chapultepec Morales, C.F., Mexico 11570 con quién tampoco se establece ningún derecho. 

Reconocimiento del Documento del Plan. Al aceptar las Opciones, usted reconoce que ha recibido las copias de dicho Plan, ha
revisado el Plan y el Contrato en su integridad y comprende y acepta plenamente todas las disposiciones del Plan y del Contrato. 

Asimismo, al aceptar el Contrato, usted reconoce que ha leído y específica y expresamente aprueba los términos y condiciones en
el Contrato, en el cual se establece y describe lo siguiente: (i) la participación en el Plan no constituye un derecho adquirido; (ii) el Plan, y su participación en él es ofrecido por la Compañía sobre
una base plenamente discrecional; (iii) la participación en el Plan es voluntaria; y (iv) la Compañía y cualquier Subsidiaria o Afiliada no son responsables por cualquier disminución en el valor de las Acciones
implícitas en las Opciones. 
 Finalmente, por medio del presente usted declara que renuncia a cualquier acción o derecho a
presentar cualquier reclamo en contra de la Compañía por cualquier compensación o daño como resultado de su participación en el Plan y por lo tanto otorga la liberación más amplia que en derecho
proceda al Patrón, la Compañía y cualquier Subsidiaria o Afiliada con respecto a cualquier reclamo que pueda surgir en torno al Plan. 
 NETHERLANDS 
 NOTIFICATIONS 
 Insider Trading Notification. 
 You should be aware of the Dutch insider trading
rules, which may impact the sale of Shares issued to you at exercise of this Option. In particular, you may be prohibited from effectuating certain transactions involving Shares if you have inside information about the Company. 

Under Article 5:56 of the Dutch Financial Supervision Act, anyone who has “insider information” related to an issuing company is prohibited
from effectuating a transaction 

  
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in securities in or from the Netherlands. “Inside information” is defined as knowledge of specific information concerning the issuing company to which the securities relate or the trade
in securities issued by such company, which has not been made public and which, if published, would reasonably be expected to affect the share price, regardless of the development of the price. The insider could be any employee of an Affiliate in
the Netherlands who has inside information as described herein. 
 Given the broad scope of the definition of inside information, you may have
inside information and, thus, would be prohibited from effectuating a transaction in securities in the Netherlands at a time when you have such inside information. 
 By accepting this Option and the underlying Shares, you acknowledge having read and understood the notification above and acknowledge that it is your responsibility to comply with the Dutch insider
trading rules, as discussed herein. 
 If you are uncertain whether the insider trading rules apply to you, you should consult your personal
legal advisor. 
 SINGAPORE 

NOTIFICATIONS 
 Securities Law
Information. 
 The grant of this Option is being made pursuant to the “Qualifying Person” exemption under section 273(1)(f) of
the Securities and Futures Act (Chapter 289, 2006 Ed.) (“SFA”) and is exempt from the prospectus and registration requirements under the SFA. The Plan has not been lodged or registered as a prospectus with the Monetary
Authority of Singapore. You should note that this Option is subject to section 257 of the SFA and you will not be able to make (i) any subsequent sale of Shares in Singapore or (ii) any offer of such subsequent sale of Shares subject to
the awards in Singapore, unless such sale or offer in is made pursuant to the exemptions under Part XIII Division (1) Subdivision (4) (other than section 280) of the SFA. 
 Director Notification Requirement. 
 If you are a director, associate director or
shadow director of the Company’s Singapore Affiliate, you are subject to certain notification requirements under the Singapore Companies Act. Among these requirements is an obligation to notify the Singapore Affiliate in writing when you
receive an interest (e.g., Options, Shares) in the Company or Affiliate. In addition, you must notify the Singapore Affiliate when you sell Shares (including when you sell Shares issued upon vesting and exercise of this Option). These
notifications must be made within two business days of acquiring or disposing of any interest in the Company or any Affiliate. In addition, a notification of your interests in the Company or Affiliate must be made within two business days of
becoming a director. 

  
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 Insider Trading Notification. 
 You should be aware of the Singapore insider trading rules, which may impact the acquisition or disposal of shares or rights to Shares under the Plan. Under the Singapore insider trading rules, you are
prohibited from acquiring or selling Shares when you are in possession of information which is not generally available and which you know or should know will have a material effect on the price of Shares once such information is generally available.

 SPAIN 
 TERMS AND
CONDITIONS 
 Nature of Grant. 
 This provision supplements the Acknowledgment of Nature of Award section of the Award Agreement including this Appendix A: 
 In accepting this Option, you consent to participation in the Plan and acknowledge that you have received a copy of the Plan. 
 You understand and agree that, as a condition of the grant of this Option, except as provided for in the Award Agreement, the termination of your Service for any reason (including for the reasons listed
below) will automatically result in the loss of this Option that has not vested on the date of termination. 
 In particular, you understand and
agree that any unvested Option as of your termination date and any vested Option not exercised within the period set forth in the Award Agreement following your termination date will be forfeited without entitlement to the underlying Shares or to
any amount as indemnification in the event of a termination by reason of, including, but not limited to: resignation, Retirement, disciplinary dismissal adjudged to be with cause, disciplinary dismissal adjudged or recognized to be without cause,
individual or collective layoff on objective grounds, whether adjudged to be with cause or adjudged or recognized to be without cause, material modification of the terms of employment under Article 41 of the Workers’ Statute, relocation under
Article 40 of the Workers’ Statute, Article 50 of the Workers’ Statute, unilateral withdrawal by the Employer, and under Article 10.3 of Royal Decree 1382/1985. 
 Furthermore, you understand that the Company has unilaterally, gratuitously and discretionally decided to grant options under the Plan to individuals who may be employees of the Company or any Affiliate.
The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Company or its Affiliates on an ongoing basis other than to the extent set forth in the
Award Agreement. Consequently, you understand that this Option is granted on the assumption and condition that this Option and the Shares issued upon exercise shall not become a part of any employment or Service contract (either with the Company,
the Employer or any other Affiliate) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. In addition, you understand that the grant


  
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of this Option would not be made to you but for the assumptions and conditions referred to above; thus, you acknowledge and freely accept that should any or all of the assumptions be mistaken or
should any of the conditions not be met for any reason, then any grant to you of this Option shall be null and void. 
 NOTIFICATIONS

 Securities Law Information. 
 This Option and the Shares described in the Award Agreement and this Appendix do not qualify under Spanish regulations as securities. No “offer of securities to the public,” as defined
under Spanish law, has taken place or will take place in the Spanish territory. The Award Agreement (including this Appendix) has not been nor will it be registered with the Comisión Nacional del Mercado de Valores, and
does not constitute a public offering prospectus. 
 Exchange Control Information. 

To participate in the Plan, you must comply with exchange control regulations in Spain. The acquisition of Shares and the sale of Shares must be declared
for statistical purposes to the Dirección General de Comercio e Inversiones (the “DGCI”). Because you will not purchase or sell the Shares through the use of a Spanish financial institution, you must make the declaration by
filing a D-6 form with the DGCI. Generally, the D-6 form must be filed each January while the Shares are owned or to report the sale of Shares. 

Effective January 1, 2013, you also will be required to declare electronically to the Bank of Spain any securities accounts (including brokerage
accounts held abroad), as well as the shares held in such accounts, depending on the value of the transactions during the prior tax year or the balances in such accounts as of December 31 of the prior tax year. This report may first be due
beginning in 2013 with respect to transactions during 2012 and balances as of December 31, 2012. You should consult with your personal legal advisor regarding the applicable thresholds and corresponding reporting requirements. 

When receiving foreign currency payments derived from the ownership of Shares (i.e., dividends or sale proceeds) exceeding €50,000, you must
inform the financial institution receiving the payment of the basis upon which such payment is made. You will need to provide the institution with the following information: (i) your name, address, and fiscal identification number;
(ii) the name and corporate domicile of the Company; (iii) the amount of the payment; (iv) the currency used; (v) the country of origin; (vi) the reasons for the payment; and (vii) any further information that may be
required. 
 Foreign Asset Reporting Requirement. 
 Effective January 1, 2013, you are required to report assets or rights deposited or held outside of Spain (including Shares acquired under the Plan or cash proceeds from the sale of Shares acquired
under the Plan) if the value of such right or asset exceeds €20,000 on an individual basis. This new obligation applies to rights and assets held as of December 31 and requires that information on such rights and assets be included in your
tax return filed with the Spanish tax authorities the following year. This report may first be due in 2013 with respect to assets and rights held as of December 31, 2012. 

  
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 SWITZERLAND 
 NOTIFICATIONS 
 Securities Law Information. 

The offer of this Option is considered a private offering in Switzerland and is therefore not subject to registration in Switzerland. 

UNITED KINGDOM 
 TERMS &
CONDITIONS 
 Tax Acknowledgment. 
 The following provisions supplement the Taxes section of the Award Agreement: 
 You shall
pay to the Company or the Employer the amount of income tax that the Company or the Employer may be required to account to HM Revenue & Customs (“HMRC”) with respect to the event giving rise to the income tax (the “Taxable
Event”) that cannot be satisfied by the means described in the Award Agreement. If payment or withholding of the income tax is not made within ninety (90) days of the Taxable Event or such other period specified in Section 222(1)(c)
of the U.K. Income Tax (Earnings and Pensions) Act 2003 (the “Due Date”), then the amount that should have been withheld shall constitute a loan owed by you to the Employer, effective on the Due Date. You agree that the loan will bear
interest at the HMRC official rate and will be immediately due and repayable by you, and the Company and/or the Employer may recover it at any time thereafter by any of the means set forth in Award Agreement. 

Notwithstanding the foregoing, if you are an executive officer or director (as within the meaning of Section 13(k) of the U.S. Securities and
Exchange Act of 1934, as amended), the terms of the immediately foregoing provision will not apply. In the event that you are an executive officer or director, as defined above, and income tax due is not collected from or paid by you by the Due
Date, the amount of any uncollected income tax may constitute a benefit to you on which additional income tax and National Insurance contributions may be payable. You will be responsible for reporting and paying any income tax due on this additional
benefit directly to HMRC under the self-assessment regime and for reimbursing the Company or the Employer, as applicable, for the value of any employee National Insurance contributions due on this additional benefit. 

  
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