Document:

Form of Note

 EXHIBIT 4.2 
  

FORM OF NOTE 
  
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE
THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN
THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
  
 UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  
 EMBARQ CORPORATION 
 _______% Notes due 20__ 
  
 CUSIP No. _________ 
 ISIN US _________

 Common Code _________ 
  

			
	No.	  	$___________

  
 Embarq Corporation, a
corporation duly organized and existing under the laws of Delaware (herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
Cede & Co., or registered assigns, the principal sum of _________ Dollars on _________, 20__ and to pay interest thereon from _________, 2006 or from the most recent Interest Payment Date to which interest has been paid or duly provided
for, semi-annually on __________ and __________ in each year, commencing __________, 2006, at the rate of ____% per annum, until the principal hereof is paid or made available for payment, provided that any principal and premium, and any such
installment of interest, which is overdue shall bear interest at the rate of ____% per annum (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available
for payment, and such interest shall be payable on demand. The interest so payable, and punctually paid or duly provided for, on any 

 
Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on the Regular Record Date for such interest, which shall be the              or
             (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the
payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not
inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 
  
 Payment of the principal of (and premium, if any) and any such interest on
this Security will be made at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, New York City, in such coin or currency of the United States of America as at the time of payment is legal tender for payment
of public and private debts; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register. 
  
 Reference is hereby made to the further provisions of this Security set forth
on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual
signature, this Security shall not be entitled to any benefit under the Indenture nor be valid or obligatory for any purpose. 
  

 2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal.

  

			
	 EMBARQ CORPORATION

		
	By:	 	 
	 	 	 Name:
 Title:

  
  

	
	Attest:
	
	 
	 Name:
 Title:

  

 3 

 CERTIFICATE OF AUTHENTICATION 
  
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 
  

			
	Dated:                      , 2006
	
	 J.P. MORGAN TRUST COMPANY,
 NATIONAL
ASSOCIATION
     As Trustee

		
	By:	 	 
	 	 	Authorized Signature

  

 4 

 This Security is one of a duly authorized issue of securities of the Company (herein called the
“Securities”), issued and to be issued in one or more series under an Indenture, dated as of                     
    , 2006 (the “Indenture,” which term shall have the meaning assigned to it in such instrument), between the Company and J.P. Morgan Trust Company, National Association, as Trustee (herein called the
“Trustee,” which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the
Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof initially limited in aggregate principal amount to
$            . 
  
 The Securities of this series are subject to redemption upon not less than 30 days’ notice, but not more than 60 days’ prior notice, by mail, as a whole or in part, at the election of the Company, at any
time or from time to time, at the following Redemption Price: 
  
 The greater of (1) 100% of the principal amount of the Securities to be redeemed and (2) the sum of the present values of the Remaining Scheduled Payments discounted, on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months), at a rate equal to the sum of the Treasury Rate plus              basis points. In the case of each of clause (1) and (2), accrued interest will be
payable to the Redemption Date. 
  
 “Treasury Rate”
means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to maturity (computed as of the second Business Day immediately preceding such Redemption Date) of the Comparable Treasury Issue, assuming a
price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 
  
 “Comparable Treasury Issue” means, with respect to any Redemption Date, the United States Treasury security selected by an Independent
Investment Banker as having a maturity comparable to the remaining term of the Securities of this series that would be used, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of the Securities. 
  
 “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the average of the Reference Treasury Dealer Quotations for such Redemption Date after excluding the highest and lowest of
such Reference Treasury Dealer Quotations, or (2) if the Trustee is provided fewer than five such Reference Treasury Dealer Quotations, the average of all such quotations obtained. “Reference Treasury Dealer Quotations” means, with
respect to each Reference Treasury Dealer and any Redemption Date, the average of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company and the
Trustee by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date. 
  
 “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company, which may have other business
relationships with the Company. 
  

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 “Reference Treasury Dealer” means each of Bear, Stearns & Co. Inc., Goldman,
Sachs & Co. and Lehman Brothers Inc. and two other primary U.S. Government securities dealers (each a “Primary Treasury Dealer”) selected by the Company and their respective successors. If any of the foregoing shall cease to be a
Primary Treasury Dealer, the Company shall replace such Reference Treasury Dealer with another nationally recognized investment banking firm that is a Primary Treasury Dealer. 
  
 “Remaining Scheduled Payments” means, with respect to each Security of this series to be redeemed on any
Redemption Date, the remaining scheduled payments of principal of and interest on such Security that would be due after the related Redemption Date but for such redemption. If such Redemption Date is not an Interest Payment Date with respect to such
Security, then the Remaining Scheduled Payments will be reduced by the amount of interest accrued on such Security to such Redemption Date. 
  
 In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof
will be issued in the name of the Holder hereof upon the cancellation hereof. 
  
 The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security or certain restrictive covenants and Events of Default with respect to this Security, in each case upon
compliance with certain conditions set forth in the Indenture. 
  
 If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.

  
 The Indenture permits, with certain exceptions as therein
provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the
consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the
Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their
consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange
herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
  
 As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with
respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of
this series, the Holders of not less than a majority in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee
and offered the Trustee 

  

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reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the time
Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the
Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
  
 No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the
obligations of the Company, which are absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 
  
 As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on
this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and
thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
  
 The Securities of this series are issuable only in registered form without
coupons in denominations of $1,000 and any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities
of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 
  
 No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith. 
  
 Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all
purposes, whether or not this Security be overdue, and none of the Company, the Trustee or any such agent shall be affected by notice to the contrary. 
  
 So long as the Securities are represented by Global Securities and such Global Securities are held on behalf of a clearing system, notices to Holders of
the Securities may be given by delivery of the relevant notice to that clearing system for communication by it to beneficial Holders of the Securities. 
  
 All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
  
 This Note shall be governed by the laws of the State of New York. 

 

 7 

 [FORM OF TRANSFER NOTICE] 
  
 FOR VALUE RECEIVED the undersigned registered holder hereby sell(s), assign(s) and transfer(s) unto 
  
 Insert Taxpayer Identification No. 
  
  
 (Please print or typewrite name and address including zip code of assignee) 
  
  
 the within Security and all rights thereunder, hereby irrevocably constituting and appointing 

 
  
 attorney to transfer such Security on the books of the Company with full power of substitution in the premises. 
  
  
  
  
  
 Date:
_________________                      
  
 NOTICE:    The signature to this assignment must correspond with the name as written upon the face of the within-mentioned instrument
in every particular, without alteration or any change whatsoever. 
  
  
  
 Signature Guarantee:Second Amended and Restated Limited Liability Company Operating Agreement

 Exhibit 10.17 
  

 SECOND AMENDED AND RESTATED 
 LIMITED LIABILITY COMPANY 
 OPERATING AGREEMENT 
 OF 
 TRIMARAN POLLO PARTNERS, L.L.C.

 DATED AS OF MARCH 8, 2006 
  

 TABLE OF CONTENTS 
  

					
	ARTICLE I
	
	DEFINED TERMS
			
	 Section 1.01
	  	Certain Definitions	  	2
	 Section 1.02
	  	Other Interpretive Provisions	  	9
	
	ARTICLE II
	
	ORGANIZATION
			
	 Section 2.01
	  	Formation of the Company	  	10
	 Section 2.02
	  	Office of the Company	  	10
	 Section 2.03
	  	Registered Office and Registered Agent	  	10
	 Section 2.04
	  	Purposes of the Company; Investments	  	10
	 Section 2.05
	  	Term of the Company	  	11
	
	ARTICLE III
	
	MANAGEMENT OF THE COMPANY; CAC BOARD
			
	 Section 3.01
	  	Management Generally	  	11
	 Section 3.02
	  	Managing Member	  	11
	 Section 3.03
	  	Officers	  	11
	 Section 3.04
	  	CAC Board	  	12
	 Section 3.05
	  	Meetings of Members	  	14
	 Section 3.06
	  	Member Transactions	  	14
	 Section 3.07
	  	Other	  	14
	
	ARTICLE IV
	
	CAPITAL CONTRIBUTIONS, MEMBERSHIP UNITS
	AND CAPITAL ACCOUNTS
			
	 Section 4.01
	  	Capital Contributions.	  	15
	 Section 4.02
	  	Additional Capital Contributions	  	15
	 Section 4.03
	  	Additional Members	  	16
	 Section 4.04
	  	Capital Accounts	  	16
	 Section 4.05
	  	Return of Capital	  	16
	 Section 4.06
	  	No Interest on Capital Contribution	  	17

  

 i 

					
	ARTICLE V
	
	DISTRIBUTIONS
			
	Section 5.01	  	Distributions	  	17
	Section 5.02	  	Limitations on Distribution	  	18
	Section 5.03	  	Offset	  	18
	
	ARTICLE VI
	
	ALLOCATIONS
			
	Section 6.01	  	Allocation of Profits and Losses	  	19
	Section 6.02	  	Withholding	  	20
	
	ARTICLE VII
	
	PREEMPTIVE RIGHTS
			
	Section 7.01	  	Additional Issuances of Equity and Debt Securities of the Company	  	21
	Section 7.02	  	Additional CAC Securities	  	22
	Section 7.03	  	Qualifications to Preemptive Rights	  	23
	
	ARTICLE VIII
	
	TRANSFERS
			
	Section 8.01	  	Transfer Restrictions	  	24
	Section 8.02	  	Right of First Offer	  	25
	Section 8.03	  	Tag-Along Rights	  	26
	Section 8.04	  	Drag-Along Rights	  	27
	Section 8.05	  	Transfers to Affiliates	  	30
	Section 8.06	  	Rights and Obligations of Transferees	  	30
	Section 8.07	  	Registration Rights	  	30
	
	ARTICLE IX
	
	COMPANY EXPENSES, BOOKS AND RECORDS,
	TAX MATTERS
			
	Section 9.01	  	Fees and Expenses	  	32
	Section 9.02	  	Fiscal Year and Method of Accounting	  	32
	Section 9.03	  	Records and Information	  	33
	Section 9.04	  	Financial Statements and Reports	  	33
	Section 9.05	  	U.S. Tax Classification	  	33
	Section 9.06	  	Tax Matters Member	  	34

  

 ii 

					
	ARTICLE X
	
	LIABILITY, INDEMNIFICATION AND CONTRIBUTION
			
	 Section 10.01
	  	Liability of Members	  	34
	 Section 10.02
	  	Indemnification	  	34
	 Section 10.03
	  	Exclusivity	  	35
	 Section 10.04
	  	Fiduciary Duty	  	35
	
	ARTICLE XI
	
	DISSOLUTION, LIQUIDATION AND TERMINATION
			
	 Section 11.01
	  	Dissolution	  	35
	 Section 11.02
	  	Cancellation of Certificate	  	36
	 Section 11.03
	  	Liquidation	  	36
	 Section 11.04
	  	Accounting on Liquidation	  	36
	 Section 11.05
	  	Return of Members’ Capital Contribution	  	36
	 Section 11.06
	  	Termination	  	36
	
	ARTICLE XII
	
	REPRESENTATIONS AND WARRANTIES
			
	 Section 12.01
	  	Member Representations	  	37
	 Section 12.02
	  	Company Representation	  	40
	
	ARTICLE XIII
	
	MISCELLANEOUS PROVISIONS
			
	 Section 13.01
	  	Notices	  	40
	 Section 13.02
	  	Entire Agreement	  	40
	 Section 13.03
	  	Confidentiality	  	40
	 Section 13.04
	  	Amendments	  	41
	 Section 13.05
	  	Governing Law; Jurisdiction	  	41
	 Section 13.06
	  	Severability	  	42
	 Section 13.07
	  	Further Assurances	  	42
	 Section 13.08
	  	Binding Effect	  	42
	 Section 13.09
	  	Waivers	  	42
	 Section 13.10
	  	Conflicts of Interest	  	42
	 Section 13.11
	  	Third Parties	  	42
	 Section 13.12
	  	Counterparts	  	43

  

 iii 

 SECOND AMENDED AND RESTATED 
 LIMITED LIABILITY COMPANY 
 OPERATING AGREEMENT 
 OF 
 TRIMARAN POLLO PARTNERS, L.L.C. 
 This Second Amended and Restated Limited Liability Company Operating Agreement (the “Agreement”) of Trimaran Pollo Partners, L.L.C. (the
“Company”) is made, entered into and effective as of March 8, 2006 by and among the parties whose names and addresses are set forth on Schedule A hereto as members, and such other parties that are admitted as members in
accordance with the terms hereof (each a “Member,” and collectively, the “Members”). 
 WITNESSETH:

 WHEREAS, an authorized person has caused to be formed, and the parties hereto desire to continue, the Company as a limited liability
company under the Delaware Limited Liability Company Act, as amended (the “Act”); 
 WHEREAS, the parties entered into a
First Amended and Restated Limited Liability Company Operating Agreement, dated as of November 18, 2005, as amended as of January 4, 2006, to formalize their understandings with respect to (i) the manner in which the Company will be
organized and operated and (ii) their respective ownership interests and related rights and restrictions; and 
 WHEREAS, the parties
desire to further amend and restate the limited liability company operating agreement of the Company, as more fully set forth herein; 
 NOW,
THEREFORE, in consideration of the foregoing and of the mutual promises of the parties hereto, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally
bound, agree as follows: 

 ARTICLE I 
 DEFINED TERMS 
 Section 1.01 Certain Definitions. As used in this Agreement, the
following terms have the following meanings: 
 “Act” has the meaning set forth in the recitals. 
 “Affiliate” means, with respect to any Person, any other Person that directly or indirectly Controls, is Controlled by, or is under
common Control with, such Person. 
 “Agreement” has the meaning set forth in the preamble. 
 “American Securities” means ASP EPL L.L.C. and any successor thereto. 
 “Beneficial Ownership” has the meaning set forth in Rule 13d-3 of the Securities Exchange Act of 1934, as amended. 
 “Book Value” means, with respect to any Company asset, the asset’s adjusted basis for federal income tax purposes, except that the
Book Values of all Company assets shall be adjusted to equal their respective fair market values (as determined by the Managing Member in its good faith judgment), in accordance with the rules set forth in Section 1.704-1(b)(2)(iv)(f) of the
Treasury Regulations. 
 “Breaching Drag-Along Member” has the meaning set forth in Section 8.04(e). 
 “Business Day” means any day other than a Saturday, Sunday or a day on which commercial banks located in New York, New York are required
or authorized by law to be closed. 
 “CAC” means Chicken Acquisition Corp., a Delaware corporation and any successor
thereto. 
 “CAC Board” has the meaning set forth in Section 3.04(a). 
 “Capital Account” has the meaning set forth in Section 4.04(a). 
  

 2 

 “Capital Contribution” means, with respect to any Member, the total amount of cash or
the value of other property contributed to the Company by such Member pursuant to this Agreement; provided that the Managing Member shall determine in its reasonable discretion the value of any property other than cash contributed by any
Member; provided, further, that any Capital Contributions made following the date of this Agreement shall consist solely of cash. It is understood that with respect to securities contributed to the Company by American Securities
pursuant to the Exchange and Contribution Agreement, dated as of November 18, 2005, such securities shall be valued consistently with the value set forth therein. 
 “Certificate of Formation” has the meaning set forth in the recitals. 
 “Closing
Date” means the date hereof. 
 “Code” means the U.S. Internal Revenue Code of 1986, as amended, and the
regulations promulgated thereunder. Any reference to a section of the Code shall include a reference to any successor provision thereto. 
 “Company” has the meaning set forth in the preamble. 
 “Continental Member means the Continental
Casualty Company. 
 “Control” means the possession, direct or indirect, of the power to direct or cause the direction of
the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise, and “Controlled” has a correlative meaning. 
 “Covered Person” means a current or former Member or Director, an Affiliate of a current or former Member or Director, any officer,
director, shareholder, partner, member, employee, representative or agent of a current or former Member or Director or any of their respective Affiliates, or any current or former officer, employee or agent of the Company or any of its Affiliates.

 “De Minimis Interest Amount” means, with respect to any Investor Member, twenty-five percent (25%) of the aggregate
number of Membership Units issued to such Investor Member as of the Closing Date. 
 “Demand Notice” has the meaning set
forth in Section 8.07(c). 
 “Drag-Along Member” has the meaning set forth in Section 8.04(b). 
  

 3 

 “Drag-Along Notice” has the meaning set forth in Section 8.04(b). 
 “Drag-Along Transfer” has the meaning set forth in Section 8.04(a). 
 “Election Notice” has the meaning set forth in Section 7.02(c). 
 “Election Period” has the meaning set forth in Section 7.02(c). 
 “Equity Syndication” means any Transfer or Transfers by the Trimaran Vehicles of a number of Membership Units which the Trimaran
Vehicles received in respect of their initial Capital Contribution, up to $60.0 million in the aggregate, made within six (6) months of the date hereof. 
 “ERISA” means the U.S. Employee Retirement Income Security Act of 1974, as amended, and the regulations promulgated thereunder. Any reference to a section of ERISA shall include a reference to any
successor provision thereto. 
 “Escrow Agent” has the meaning set forth in Section 8.04(f). 
 “Existing Agreement” has the meaning set forth in the recitals. 
 “Formation Date” means October 19, 2005. 
 “GAAP” means U.S. generally accepted accounting principles in effect from time to time. 
 “Indemnified Person” has the meaning set forth in Section 10.01(a). 
 “Initial Holding
Period” has the meaning set forth in Section 8.01(a). 
 “Investment Company Act” means the U.S. Investment
Company Act of 1940, as amended from time to time. 
 “Investor Member” means the Persons set forth on Schedule C.
“Investor Members” shall exclude Trimaran Vehicles and their Affiliates that are Members hereunder. 
  

 4 

 “IPO” means an initial registered offering of any equity securities of CAC or a
Subsidiary thereof to the public under the Securities Act. 
 “Management and Monitoring Agreement” means the agreement
entered into between Trimaran Fund Management, L.L.C. (and/or its respective Affiliates) and CAC, pursuant to which CAC agrees to pay certain transaction and monitoring fees to Trimaran Fund Management, L.L.C. (or its respective designee).

 “Managing Member” has the meaning set forth in Section 3.02. 
 “Marketable Securities” means securities that are (i) traded on a national securities exchange in the United States,
(ii) reported through an automated inter-dealer quotation system in the United States or (iii) otherwise actively traded over-the-counter in the United States, and, in each ease, are not subject to restrictions on transfer as a result of
applicable contract provisions, the provisions of the Securities Act (or regulations thereunder other than the volume and method-of-sale restrictions applicable to affiliates of an issuer pursuant to Rule 144 promulgated thereunder or any successor
thereto), or other applicable law. 
 “Material Subsidiary” means each of the entities set forth on Schedule D and
any other Subsidiary of the Company following the date hereof with revenues or assets that are in excess of one million dollars ($1,000,000) or are otherwise material to the business of the Company and its Subsidiaries, taken as a whole. 

“Member” has the meaning set forth in the preamble. 
 “Membership Units” means membership interests in the Company. 
 “Net Income and Net
Loss” means, for each fiscal year or other period, the taxable income or loss of the Company, or particular items thereof, determined in accordance with the accounting method used by the Company for federal income tax purposes with the
following adjustments: (a) any income of the Company that is exempt from federal income taxation and not otherwise taken into account in computing Net Income and Net Loss shall be added to such taxable income or loss; (b) if the Book Value
of any asset differs from its adjusted tax basis for federal income tax purposes, any gain or loss resulting from a disposition of such asset shall be calculated with reference to such Book Value; (c) upon an adjustment to the Book Value of any
asset pursuant to the definition of Book Value, the amount of the adjustment shall be included as gain or loss in computing such taxable income or loss; (d) if the Book Value of any asset differs from its adjusted tax basis for federal income
tax purposes, the amount of depreciation, amortization or cost recovery deductions with respect to such asset for purposes of determining Net Income and Net Loss shall be an amount that bears the same ratio to such Book Value as the federal income
tax depreciation, amortization or other cost recovery deductions 
  

 5 

 bears to such adjusted tax basis (provided that if the federal income tax depreciation, amortization or other cost
recovery deduction is zero, the Managing Member may use any reasonable method for purposes of determining depreciation, amortization or other cost recovery deductions in calculating Net Income and Net Loss); and (e) any expenditures of the
Company not deductible in computing taxable income or loss, not properly capitalizable and not otherwise taken into account in computing Net Income and Net Loss pursuant to this definition, shall be treated as deductible items. 
 “Newly Issued Securities” has the meaning set forth in Section 7.02(a). 
 “Necessary Action” means, with respect to a specified result, all actions (to the extent such actions are, at the time taken, within the
power of the Person taking such actions and are permitted by law) necessary to cause such result, including (i) voting or providing a written consent or proxy with respect to the voting securities of CAC, (ii) causing the adoption of
stockholders’ resolutions and amendments to the certificate of incorporation and by-laws of CAC, (iii) causing members of the CAC Board (to the extent such members were nominated or designated by the Person obligated to undertake the
Necessary Action, and subject to any fiduciary duties that such members may have as directors of CAC) to act in a certain manner or causing them to be removed in the event they do not act in such a manner, (iv) executing agreements and
instruments, and (v) making, or causing to be made, with governmental, administrative or regulatory authorities, all filings, registrations or similar actions that are required to achieve such result; provided that none of the actions
set forth in this definition shall limit the ability of the Company to sell or otherwise dispose of securities in accordance with the terms of this Agreement. 
 “Non-Trimaran Director” has the meaning set forth in Section 3.04(a). 
 “Offer
Notice” has the meaning set forth in Section 8.02(a)(i). 
 “Person” means any individual, partnership,
corporation, limited liability company, unincorporated organization, trust or joint venture, or a governmental agency or political subdivision thereof. 
 “Plan” has the meaning set forth in Section 12.01(p). 
 “Preemptive Rights
Notice” has the meaning set forth in Section 7.02(c). 
  

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 “Pro Rata Portion” means: 
 (a) for purposes of Section 7.01, a number of equity securities (including but not limited to Membership Units) or amount of debt securities, as
applicable, equal to the product of (i) the number of equity securities or amount of debt securities, as applicable, the Company proposes to issue on the relevant issuance date and (ii) a fraction, the numerator of which is the number of
Membership Units held by the relevant Member immediately prior to such date and the denominator of which is the aggregate number of Membership Units held by all Members immediately prior to such date; provided that if, at the time of any
proposed debt issuance, the Company has outstanding debt securities, the numerator will be the amount of debt securities held by the relevant Member immediately prior to such issuance date and the denominator will be the aggregate amount of debt
securities held by all Members immediately prior to such date; 
 (b) for purposes of Section 7.02 in respect of Newly Issued
Securities, a number of Newly Issued Securities equal to the product of (i) the number of Newly Issued Securities that the Company is permitted to purchase on any date upon exercise of its preemptive rights in accordance with the Stockholders
Agreement and (ii) a fraction, the numerator of which is the number of Membership Units held by the relevant Member immediately prior to such date and the denominator of which is the aggregate number of the Membership Units held by all Members
immediately prior to such date; 
 (c) for purposes of Section 7.02 in respect of Other Securities, a number of Other Securities equal
to the product of (i) the aggregate number of such securities that the Company is permitted to purchase pursuant to Section 7.03 on the relevant issuance date and (ii) a fraction, the numerator of which is the number of Membership
Units held by the relevant Member immediately prior to such date and the denominator of which is the aggregate number of Membership Units held by all Members immediately prior to such date; 
 (d) for purposes of Section 8.03, a number of Membership Units equal to the product of (i) the number of Membership Units held by the Tagging
Member and (ii) a fraction, the numerator of which is the number of Membership Units proposed to be Transferred by the Transferring Members in connection with the Tag-Along Transfer and the denominator of which is the aggregate number of
Membership Units held by such Transferring Members immediately prior to such Tag-Along Transfer; 
 (e) for purposes of Section 8.04, a
number of Membership Units equal to the product of (i) the number of Membership Units held by the relevant Drag-Along Member and (ii) a fraction, the numerator of which is the number of Membership Units proposed to be Transferred by the
Selling Members to the Drag-Along Buyer and the denominator of which is the aggregate number of Membership Units of the Selling Members. 
 “Purchase Agreement” means the Stock Purchase Agreement, dated September 27, 2005, among Chicken Acquisition Corp., EPL Holdings, Inc., EPL Intermediate, Inc., El Pollo Loco, Inc. and American Securities Capital
Partners, L.P. 
  

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 “Qualified Purchaser” has the meaning set forth in Section 12.01(f). 
 “Securities Act” means the U.S. Securities Act of 1933, as amended from time to time. 
 “Selling Members” has the meaning set forth in Section 8.04(a). 
 “Stockholders Agreement” means the agreement entered into among the Company, CAC and certain other parties thereto as of the Closing
Date setting forth, among other things, certain drag-along, registration and preemptive rights granted to the Company in respect of the equity securities of CAC, a draft of which is attached as Exhibit A hereto. 
 “Subsidiary” means, with respect to any Person, any corporation, partnership, joint venture or other legal entity of which such Person
(either alone or through or together with any other Subsidiary) (a) owns, directly or indirectly, fifty percent (50%) or more of the stock, partnership interests or other equity interests which are generally entitled to vote for the
election of the board of directors or other governing body of such corporation, partnership, joint venture of other legal entity; or (b) possesses, directly or indirectly, control over the direction of management or policies of such
corporation, partnership, joint venture or other legal entity (whether through ownership of voting securities, by agreement or otherwise). 
 “Tag-Along Notice” has the meaning set forth in Section 8.03(b). 
 “Tag-Along Transfer” has
the meaning set forth in Section 8.03(a). 
 “Tagging Member” has the meaning set forth in Section 8.03(a).

 “Termination Date” has the meaning set forth in Section 11.06(a). 
 “Threshold Interest Amount” means, with respect to any Investor Member, fifty percent (50%) of the aggregate number of Membership
Units issued to such Investor Member as of the Closing Date. 
 “Transfer” means, with respect to any Membership Units, a
transfer, sale, exchange, assignment, pledge, hypothecation or other encumbrance or disposition, including the grant of an option or other right, whether directly or indirectly, whether voluntarily, involuntarily or by operation of law, of such
Membership Units, and “Transferred” and “Transferee” each have a correlative meaning. For purposes of this definition, the term “Transfer” shall exclude (i) the transfer, sale, exchange,
assignment, pledge, hypothecation or other encumbrance or disposition, 
  

 8 

 including the grant of an option or other right, whether directly or indirectly, whether voluntarily, involuntarily or by
operation of law, of the interest held by any limited partner or member in a Member, other than such limited partners or members that are Affiliates of the Managing Member or an Investor Member and (ii) the transfer, sale, exchange, assignment,
pledge, hypothecation or other encumbrance or disposition, involuntarily or by operation of law, of any interest in any Person that directly or indirectly Controls or owns a Member that (x) if publicly traded, has an aggregate market
capitalization in excess of $500 million, (y) if not publicly traded, has assets with a fair market value (as reasonably determined in good faith by the Board of Directors (or similar body) of such parent entity) in excess of $500 million or
(z) is otherwise consented to in writing by the Managing Member (such consent not to be unreasonably withheld). 
 “Transferring
Member” has the meaning set forth in Section 8.03(a). 
 “Treasury Regulations” shall mean the income tax
regulations promulgated under the Code, as amended from time to time (including any successor regulations). 
 “Trimaran”
means Trimaran Capital, L.L.C., a Delaware limited liability company, and any successor thereto. 
 “Trimaran Director” has
the meaning set forth in Section 3.04(a). 
 “Trimaran Principal” shall mean any of Jay R. Bloom, Andrew R. Heyer or
Dean C. Kehler. 
 “Trimaran Vehicle” means any of Trimaran Fund II, L.L.C., Trimaran Parallel Fund II, L.P., Trimaran
Capital, L.L.C., CIBC Employee Private Equity Fund (Trimaran) Partners and CIBC Capital Corporation and any of their respective Affiliates that are Members hereunder. The Trimaran Vehicles shall be considered a single Member for purposes of this
Agreement, except as expressly provided. 
 “Voting Securities” means securities entitled to vote in any election of the
board of directors (or other similar governing body) of any Person, measured by voting power rather than number of securities. 
 Section 1.02 Other Interpretive Provisions. (a) The meanings of defined teens are equally applicable to the singular and plural forms thereof. 
 (b) The words “hereof”, “herein”, “hereunder” and similar words refer to this Agreement as a whole and not to any particular provision of this Agreement; and any
subsection, Section, Exhibit, Schedule and Annex references are to this Agreement unless otherwise specified. 
  

 9 

 (c) The term “including” is not limiting and means “including without
limitation.” 
 (d) The captions and headings of this Agreement are for convenience of reference only and shall not affect the
interpretation of this Agreement. 
 (e) Whenever the context requires, any pronouns used herein shall include the corresponding masculine,
feminine or neuter forms. 
 ARTICLE II 
 ORGANIZATION 
 Section 2.01 Formation of the Company. The Members hereby:

 (a) approve and ratify the filing of the Certificate of Formation with the Secretary of State of the State of Delaware on the Formation
Date by Mary Keogh and all actions taken by or on behalf of the Company on or prior to the execution of this Agreement (which have been solely organizational in nature); and 
 (b) confirm and agree to their status as Members of the Company as set forth herein. 
 Section 2.02 Office of the Company. The Company shall have its principal office at 622 Third Avenue, 35th Floor, New York, New York 10017, and may establish such other offices or places of business for the Company as the Managing Member may in its sole
discretion deem appropriate. 
 Section 2.03 Registered Office and Registered Agent. The Company shall have its registered office
in the State of Delaware at Corporation Trust Center, 1209 Orange Street, Wilmington, County of New Castle, Delaware 19801. The name of the Company’s registered agent at such address is The Corporation Trust Company. 
 Section 2.04 Purposes of the Company; Investments. The purposes of the Company shall be to, directly or indirectly, (a) invest in, hold
and dispose of (i) (A) the securities of CAC and/or (B) any securities acquired by the Company in respect of, or in exchange for, 
  

 10 

 such securities in connection with a transaction in which all the stockholders of CAC are given an opportunity to
participate on a pro rata basis and/or (ii) the securities of any other Persons involved in the restaurant or restaurant services businesses that constitute an addition or extension of the El Pollo Loco, Inc. business;
(b) receive dividends, interest or other passive income and gains in connection therewith; and (c) take any action that is necessary, advisable or appropriate in connection therewith. 
 Section 2.05 Term of the Company. The existence of the Company commenced as of the date that the Certificate of Formation was filed with the
Secretary of State of the State of Delaware and shall continue until dissolution thereof in accordance with the provisions of this Agreement. 
 ARTICLE III 
 MANAGEMENT OF THE COMPANY; CAC BOARD 
 Section 3.01 Management Generally. Except as expressly set forth herein or under the Act, the full and exclusive right, power and authority
to manage the Company is vested in, and reserved to, the Managing Member. The business and affairs of the Company shall be conducted, and its capital, assets and funds shall be managed, dealt with and disposed of exclusively by the Managing Member
and, except as expressly set forth herein or under the Act, all decisions to be made by or on behalf of the Company shall be made solely by the Managing Member; provided that the Managing Member agrees to act reasonably and in good faith in
taking such actions or making such decisions. 
 Section 3.02 Managing Member. Trimaran Capital, L.L.C. shall be the managing
Member of the Company (the “Managing Member”). In the event that the Managing Member is unable to serve as Managing Member, or having commenced to serve, withdraws, such withdrawing Managing Member shall, at the sole option of the
Managing Member select a replacement (which replacement shall be an Affiliate of the Managing Member). 
 Section 3.03 Officers.
(a) The Managing Member may, from time to time, designate one or more persons to be officers of the Company. No officer need be a resident of the State of Delaware. Any officers so designated shall have such authority and perform such duties as
the Managing Member may, from time to time, delegate to them. The Managing Member may assign titles to particular officers. Unless the Managing Member decides otherwise, if the title is one commonly used for officers of a business corporation formed
under the General Corporation Law of the State of Delaware, the assignment of such title shall constitute the delegation to such officer of the authority and duties that are normally associated with that office, subject to any restrictions on such
authority imposed by the Managing Member. Any number of offices may be held by the same person. Without regard to the general delegation to the officers as set forth above, each officer who holds the title of “President”, “Senior Vice
President” or “Vice President”, acting alone, shall have the authority to make, enter into and perform all 
  

 11 

 contracts, agreements, reports and undertakings of the Company that have been authorized by the Managing Member. In each
case, the execution and delivery of such contracts, agreements or other documents, or the taking of any actions in connection therewith, shall be conclusive evidence of the Company’s approval thereof, and no further approval by the Company
shall be required. 
 (b) Each officer shall hold office until his or her successor shall be duly designated and qualified or until his or
her death or until he or she shall resign or shall have been removed in the manner hereinafter provided. 
 (c) Any officer may resign as
such at any time. Such resignation shall be made in writing and shall take effect at the time specified therein, or if no time be specified, at the time of its receipt by the Managing Member. The acceptance of a resignation shall not be necessary to
make it effective, unless expressly so provided in the resignation. 
 (d) Any officer may be removed as such, either with or without cause,
by the Managing Member at any time. Any vacancy occurring in any office of the Company may be filled by the Managing Member. 
 (e) The
following persons are hereby appointed officers of the Company: 
 Steven A. Flyer — President 
 Dean C. Kehler — Vice President 
 Andrew R. Heyer — Vice President 
 Jay R. Bloom — Vice President and Secretary 
 David L. Benyaminy — Assistant Secretary 
 Section 3.04 CAC Board. (a) The board of directors of CAC (the “CAC Board”) shall initially consist of a total of seven (7) directors. Except as provided by Section 3.04(c) below, the Managing
Member may cause the Company to change the total number of directors comprising the CAC Board, to designate or change the class and voting power of such directors, to appoint any additional directors to the CAC Board and to fill any vacancies on the
CAC Board. The Company shall take all Necessary Action to cause any decision of the Managing Member pursuant to the preceding sentence to be effectuated as the Managing Member deems appropriate. 
 (b) All directors on the CAC Board shall be designated by the Trimaran Vehicles, except as provided in Section 3.04(c) below. All Persons designated
to the CAC Board by the Trimaran Vehicles shall be “Trimaran Directors” and all others (including those designated pursuant to Sections 3.04(c) and 3.04(e) below) shall be “Non-Trimaran Directors.” 
  

 12 

 Subject to Section 3.04(c), the Non-Trimaran Directors shall initially include one designee of American Securities.
All Persons to be elected as Trimaran Directors shall be designated by the Trimaran Vehicles, in a manner specified by the Managing Member. The Company and the Managing Member shall take all Necessary Action to cause the election of any Persons
properly designated as Trimaran Directors or Non-Trimaran Directors. 
 (c) For so long as an Investor Member (together with its Affiliates)
holds at least fifteen (15)% of the aggregate number of Membership Units outstanding, such Investor Member shall have the right, but not the obligation, to designate one (1) Person to be elected as a Non-Trimaran Director, and the Company shall
take all Necessary Action to cause the election of such Person as a Non-Trimaran Director; provided, however, American Securities shall have the right, but not the obligation, to elect (or have elected by the Members) one Person to the CAC
Board (which Person shall initially be Glenn Kaufman) until such time as American Securities no longer holds Membership Units; provided further, however, that upon consummation of an IPO, such right shall remain until such time as
American Securities holds less than its Threshold Interest Amount. 
 (d) Notwithstanding anything to the contrary herein, any Non-Trimaran
Director shall be reasonably acceptable to the Managing Member (it being understood that Glenn Kaufman, David L. Horing and Michael G. Fisch are reasonably acceptable to the Managing Member). The Company and the Managing Member shall take all
Necessary Action to cause the election of any Non-Trimaran Director pursuant to the foregoing. 
 (e) The Company shall take all Necessary
Action to cause the election of the chief executive officer of EPL Holdings, Inc. as a Non-Trimaran Director. 
 (f) Persons serving on the
CAC Board or the boards of other Subsidiaries of the Company shall be reimbursed for reasonable, documented travel expenses incurred in connection with attendance at applicable board meetings. 
 (g) The board of directors of each Material Subsidiary shall (i) consist of the same proportion of Trimaran Directors and Non-Trimaran Directors as
that of the CAC Board and (ii) be elected and appointed in the same manner as the CAC Board, with each Investor Member that has the right to designate a member of the CAC Board having the right to designate a member of the board of directors of
each Material Subsidiary. The Managing Member shall amend Schedule D to reflect any additional Material Subsidiaries. The Company shall use its reasonable best efforts to provide that directors and officers liability insurance maintained by
CAC, and indemnification rights applicable to CAC directors, shall be similarly maintained or provided, as applicable, to Members serving in their capacities as directors of Material Subsidiaries. 
  

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 (h) The Continental Member shall have observer rights with respect to CAC Board meetings. 
 Section 3.05 Meetings of Members. Meetings of Members may be called by the Managing Member from time to time. Notice of any meeting shall be
given to all Members not less than three nor more than 20 Business Days prior to the date of such meeting and shall state the location, date and hour of the meeting. Meetings shall be held at the location (within and without the State of Delaware)
at the date and hour set forth in the notice of the meeting. No notice of any meeting of Members need be given to any Member who submits a signed waiver of notice, whether before or after the meeting. Neither the business to be transacted at, nor
the purpose of, any regular or special meeting of the Members need be specified in a written waiver of notice. The attendance of any Member at a meeting of Members shall constitute a waiver of notice of such meeting, except when the Member attends a
meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business on the ground that the meeting is not lawfully called or convened. 
 Section 3.06 Member Transactions. Transactions between the Company, on the one hand, and any Member (or an Affiliate thereof) shall be on
terms no less favorable to the Company than terms that could be obtained on an arms length basis from an unrelated third party; provided that transactions that are not arms length shall be subject to approval by holders of a majority of the
aggregate Membership Units held by Members that are disinterested with respect to the applicable transaction (it being agreed that any Member that is a limited partner of an interested party shall be deemed disinterested for this purpose unless such
Member has a direct pecuniary interest in the applicable transaction or is an Affiliate of a Member that has a direct pecuniary interest in the applicable transaction); provided further however that if no Members are disinterested, no such separate
approval shall be required. Notwithstanding the foregoing or anything to the contrary set forth in this Agreement, an increase or series of increases in the annual monitoring fee payable to an Affiliate of Trimaran under the Management and
Monitoring Agreement not to exceed $500,000 in the aggregate (i.e., to provide for an annual aggregate monitoring fee of up to $1,000,000), as determined in the discretion of Trimaran in good faith, shall not be subject to any disinterested Member
approval hereunder or otherwise so long as such increase is intended to reasonably compensate Affiliates of Trimaran for incremental monitoring responsibilities or activities to be performed by Affiliates of Trimaran under such agreement relative to
the responsibilities or activities performed by them as of the date hereof. For the avoidance of doubt, the foregoing provision shall not apply to transactions expressly contemplated by this Agreement (including but not limited to transactions
covered under Articles IV, VII and VIII). 
 Section 3.07 Other. The Managing Member agrees that it will not take any action
which would discriminate against any Investor Member (including as a result of holding a minority interest in the Company) in general or relative to the interests of the Managing Member, other than with respect to those rights that the Managing
Member has in its capacity as a managing member under this Agreement as in effect as of the date hereof. 
  

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 ARTICLE IV 
 CAPITAL CONTRIBUTIONS, MEMBERSHIP UNITS 
 AND CAPITAL ACCOUNTS 
 Section 4.01 Capital Contributions. (a) At or prior to the execution of this Agreement, (i) each Member has made a Capital
Contribution to the Company in the amount set forth opposite such Member’s name on Schedule B and, in consideration thereof, the Company has issued to such Member the number of Membership Units set forth opposite such Member’s name on
Schedule B; (ii) the Trimaran Vehicles contributed to the Company all of the shares of common stock of CAC held by Trimaran, pursuant to a contribution agreement in a form reasonably acceptable to the Managing Member; and (iii) American
Securities contributed to the Company all of the shares of common stock of CAC held by American Securities, pursuant to the Exchange and Contribution Agreement, dated as of November 18, 2005. 
 (b) With respect to cash amounts received by the Company pursuant to subsection (a) above, any of the Officers of the Company shall be authorized to
authorize the contribution of all or a portion of such funds promptly to CAC and/or any other Subsidiary thereof. Notwithstanding anything to the contrary, no further approval of the Board of Directors of CAC shall be required with respect to the
foregoing. 
 Section 4.02 Additional Capital Contributions. (a) Except as provided in Section 4.01, or in connection
with the exercise of the rights set forth in Section 7.01 and 7.02(d) by such Member, no Member shall be obligated to make Capital Contributions to the Company without the consent of such Member, nor shall any Member be entitled to make any
Capital Contribution other than as set forth in Section 4.01 or pursuant to Article VII; provided that this sentence shall not limit the obligations of Members to make payments pursuant to Section 8.01(e). The Managing Member shall
amend Schedule B to reflect the making of any additional Capital Contributions and the issuance of any additional Membership Units. 
 (b) The Company shall issue one or more additional classes of membership interests in the Company in connection with additional Capital Contributions to the Company. In connection with any such additional issuance, the Managing Member shall
determine the terms and conditions applicable to such new membership interests and shall amend this Agreement (including Article V hereof) to reflect the issuance of such new membership interests. Notwithstanding the foregoing, (i) no issuance
of additional membership interests pursuant to the terms of this Section 4.02(b) shall adversely affect the economic rights attached to Membership Units issued on the Closing Date and (ii) if any amendment made pursuant to the terms of
this Section 4.02(b) would have an adverse economic effect on a Member (other than as a result of such Member electing not to exercise any rights granted to such Member pursuant to the terms of this Agreement), such amendment shall require the
prior written consent of such Member. Issuances of membership interests in respect of additional Capital Contributions shall be on an arms length basis. 
  

 15 

 Section 4.03 Additional Members. Subject to the provisions of Section 7.01, the Managing
Member may admit one or more additional Members to the Company on such terms as the Managing Member may determine. An additional Member shall (a) execute a counterpart to this Agreement and (b) make a Capital Contribution to the Company in
an amount determined by the Managing Member. The Managing Member shall amend Schedule B to reflect the admission of any additional Members. 
 Section 4.04 Capital Accounts. (a) The Company shall maintain separate capital accounts (a “Capital Account”) for each Member in accordance with the following provisions: 
 (i) Each Member’s Capital Account shall be increased by the amount of such Member’s Capital Contributions, any Net Income (and
items thereof) allocated to such Member pursuant to Section 6.01, and the amount of any Company liabilities assumed by such Member. 
 (ii) Each Member’s Capital Account shall be decreased by the amount of cash and the gross fair market value (as determined by the Managing Member in its good faith judgment) of any other Company property
distributed to such Member (net of any liabilities the Member is considered to assume or take such property subject to), any Net Loss (and items thereof) allocated to such Member pursuant to Section 6.01 and the amount of any liabilities of
such Member assumed by the Company. 
 (iii) In the event all or any portion of a Member’s Membership Units are
Transferred in accordance with the terms of this Agreement, the Transferee shall succeed to the Capital Account of such Member to the extent such Capital Account relates to the Transferred Membership Units. 
 (b) The foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with
Treasury Regulations issued under Section 704(b) of the Code and shall be interpreted and applied in a manner consistent with such Treasury Regulations. The Managing Member shall be authorized to make appropriate amendments to the allocations
of items pursuant to this Section 4.04 if necessary in order to comply with Section 704 of the Code or applicable Treasury Regulations thereunder, provided that no such change shall reduce the amount distributable to any Member
pursuant to this Agreement. 
 Section 4.05 Return of Capital. Except upon the dissolution of the Company or as otherwise
provided herein, no Member shall have the right to withdraw from the Company or to demand or to receive the return of all or any part of its Capital Account or its Capital Contributions. 
  

 16 

 Section 4.06 No Interest on Capital Contribution. No Member shall be paid interest on any of
its Capital Contributions or on its Capital Accounts. 
 ARTICLE V 
 DISTRIBUTIONS 
 Section 5.01 Distributions. (a) Except
as otherwise set forth herein and subject to the second sentence hereof, distributions to the Members shall be made at such times and in such amounts as the Managing Member shall determine in its sole discretion; provided that, subject to
Section 8.07, any such distributions (including for this purpose any transfer of Members’ indirect ownership interests in CAC to the Members), shall be made pro rata in accordance with the Members’ respective Membership
Units. Subject to the maintenance by the Company of appropriate reserves (as determined by the Managing Member in its reasonable judgment), the Company shall promptly (and in any event within fifteen (15) Business Days) distribute all cash it
receives in respect of its ownership interest in CAC and, to the extent practicable, shall make such distributions to Members in sufficient time for Members (or their direct or indirect owners) to pay any taxes with respect to their proportionate
indirect ownership interests in CAC. 
 (b) Distributions may be made in cash or property, as determined by the Managing Member in its
reasonable judgment; provided that any such distributions to the Members shall consist of the same relative composition of cash and/or property to each Member, except as otherwise expressly permitted herein. 
 (c) In the event the Managing Member distributes non-Marketable Securities to any Member pursuant to the terms of this Agreement, other than
(i) Newly Issued Securities or (ii) any securities distributed in connection with a dissolution of the Company (other than a dissolution pursuant to Section 11.01(a)(i)), such Member shall enter into a stockholders agreement with the
Managing Member (or its designee) in respect of such non-Marketable Securities (i) containing substantially the same terms and conditions as set forth in Articles VII, VIII, and XIII, and Sections 9.04 and 3.04 hereof, (ii) providing that
the right to vote such non-Marketable Securities shall remain with the Company or, if the Company has been dissolved, shall lie with the Managing Member and (iii) in the event that such non-Marketable Securities are distributed to the limited
partners of the any of the Trimaran Vehicles, containing no greater restrictions on such Member than apply to the non-Marketable Securities that are held by the limited partners of such Trimaran Vehicle. Any such agreement shall terminate upon the
earlier of (i) the time that the Managing Member (or its Affiliates) no longer Controls, directly or indirectly, CAC, and (ii) the sixth anniversary of an IPO. 
 (d) In the event that following an IPO (i) (a) American Securities holds less than its Threshold Interest Amount and (b) the Managing Member elects to remove the representative of American
Securities from the CAC Board and each Subsidiary Board (in 
  

 17 

 accordance with the rights set forth in Section 3.04(c)) or (ii) American Securities holds less than its De
Minimis Interest Amount and the market value of the CAC common stock beneficially owned by American Securities through its membership interests in the Company constitutes less than five percent (5%) of the aggregate market value of the
public float of CAC common stock, then (in either case (i) or (ii)) American Securities shall be entitled to receive a pro rata distribution of the shares of CAC common stock held by the Company in proportion to its ownership of membership
interests in the Company (as determined by the Managing Member in good faith) for subsequent resale in compliance with applicable securities laws. In the event that American Securities receives any distribution of shares pursuant to the foregoing,
American Securities agrees that it shall comply with any customary requests by underwriters with respect to lockup or similar arrangements with securityholders to the extent officers and directors and/or major stockholders are similarly bound. Any
distribution to American Securities pursuant to this Section 5.01(d) foregoing shall be in termination of its entire interest in the Company. 
 (e) If (i) an IPO has occurred and (ii) on the Windup Distribution Date the market value of the CAC common stock beneficially owned by American Securities through its membership interests in the Company constitutes less than five
percent (5%) of the aggregate market value of the public float of CAC common stock, then American Securities shall be entitled, on or following the Windup Distribution Date, to receive a pro rata distribution of the shares of CAC common stock
held by the Company in proportion to its ownership of membership interests in the Company (as determined by the Managing Member in good faith) for either (i) subsequent distribution to American Securities’ limited partners or members, as
applicable or (ii) sale by American Securities and a subsequent distribution of the proceeds of such sale to its limited partners or members. For purposes of the foregoing, “Windup Distribution Date” shall mean four years following
the date of this Agreement. In the event that American Securities receives any distribution of shares pursuant to the foregoing, American Securities agrees that it shall, and shall cause its limited partners or members, as applicable, to comply with
any customary requests by underwriters with respect to lockup or similar arrangements with securityholders to the extent officers and directors and/or major stockholders are similarly bound. Any distribution to American Securities pursuant to this
Section 5.01(e) shall be in termination of its entire interest in the Company. 
 Section 5.02 Limitations on Distribution.
Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not make a distribution to any Member on account of its Membership Units if such distribution would violate Section 18-607 of the Act or other
applicable law. 
 Section 5.03 Offset. Whenever the Company is to pay any sum to any Member, any amounts such Member owes the
Company or any of its Controlled Affiliates pursuant to this Agreement, as determined by the Managing Member in its reasonable judgment, may be deducted from such sum before payment, to the extent permitted by applicable law. 
  

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 ARTICLE VI 
 ALLOCATIONS 
 Section 6.01 Allocation of Profits and Losses. (a) Except as
otherwise set forth in this Section 6.01, for Capital Account purposes, Net Income (and items thereof) and Net Loss (and items thereof) for any fiscal period shall be allocated among the Members pro rata in accordance with each Member’s
respective Membership Units. 
 (b) For federal, state and local income tax purposes, items of income, gain, loss, deduction and expense
shall be allocated to the Members in accordance with the allocations of the corresponding amount of Net Income (and items thereof) or amount of Net Loss (and items thereof) of which such items of income, gain, loss, deduction or expense are
components for Capital Account purposes under this Section 6.01, except that items with respect to Company property for which there is a difference between tax basis and the Book Value of such property shall be allocated in accordance with
Section 704(c) of the Code, the Treasury Regulations thereunder, and Treasury Regulations Section 1.704-1(b)(4)(i). The Company shall specially allocate long-term capital gains with respect to Membership Units for which a Member’s
holding period would entitle such Membership Units to be taxable as long-term capital gains if such Member sold such Membership Units. 
 (c)
Notwithstanding any provision of this Section 6.01, no item of deduction, loss or expense shall be allocated to a Member to the extent the allocation would cause a negative balance in such Member’s Capital Accounts (after taking into
account the adjustments, allocations and distributions described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) that exceeds the sum of (i) the amount that such Member would be required to reimburse the Company
pursuant to this Agreement or under applicable law and (ii) the amount that such Member is deemed obligated to reimburse pursuant to the penultimate sentences of Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). In the event some
but not all of the Members would have such excess Capital Account deficits as a consequence of such allocation of loss, deduction or expense, the limitation set forth in this Section 6.01(c) shall be applied on a Member-by-Member basis so as to
allocate the maximum permissible deduction, loss or expense to each Member under Section 1.704-1(b)(2)(ii)(d) of the Treasury Regulations. In the event any loss, deduction or expense shall be specially allocated to a Member pursuant to the
preceding sentence, an equal amount of income or gain of the Company shall be specially allocated to such Member prior to any allocation pursuant to Section 6.01(a). 
 (d) In the event any Member unexpectedly receives any adjustments, allocations, or distributions described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6), items of Company income and gain
shall be specially allocated to such Member in an amount and manner sufficient to eliminate as quickly as possible any deficit balance in its Capital Account in excess of that permitted under Section 6.01(c) created by such adjustments,
allocations or distributions. Any special allocations of items of income or gain pursuant to this Section 6.01(d) shall be taken into account in computing subsequent allocations pursuant to this 
  

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 Section 6.01 so that the net amount of any items so allocated and all other items allocated to each Member pursuant
to this Section 6.01 shall, to the extent possible, be equal to the net amount that would have been allocated to each such Member pursuant to the provisions of this Section 6.01 if such unexpected adjustments, allocations or distributions
had not occurred. 
 (e) In the event the Company incurs any nonrecourse liabilities, income and gain shall be allocated in accordance with
the “minimum gain chargeback” provisions of Section 1.704-1(b)(4)(iv) and 1.704-2 of the Treasury Regulations. 
 (f) The
Capital Accounts of the Members shall be adjusted in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(f) to reflect the fair market value (as determined by the Managing Member in its good faith judgment) of Company property
whenever Membership Units are relinquished to the Company, whenever an additional Member is admitted to the Company in accordance with Section 4.03, upon any termination of the Company within the meaning of Section 708 of the Code, and
when the Company is liquidated pursuant to Article XI, and shall be adjusted in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(e) in the case of a distribution of any property (other than cash). 
 (g) All elections, decisions and other matters concerning the allocation of income, gains, losses, deductions and expenses among the Members, and
accounting procedures, not specifically and expressly provided for by the terms of this Agreement, shall be determined by the Managing Member in good faith. Such determination made in good faith by the Managing Member shall, absent manifest error,
be final and conclusive as to all Members. 
 (h) In the event of a Transfer of a Member’s Membership Units pursuant to Article VIII, at
the request of the Member transferring such Membership Units or its successor in interest that the Company make an election under Section 754 of the Code, if such election would not materially adversely affect the interests of the Members, the
Managing Member may, in its reasonable judgment, cause the Company to make such election (which election, unless properly revoked, will, in accordance with Section 754 of the Code and the Treasury Regulations thereunder, be binding with respect
to all subsequent Transfers of Membership Units of the Company and with respect to certain distributions of property by the Company). 
 Section 6.02 Withholding. Notwithstanding any other provision of this Agreement, the Managing Member is authorized to take any action that it determines to be necessary or appropriate to cause the Company to comply with any
foreign or United States federal, state or local tax withholding or deduction requirement with respect to any allocation, payment or distribution by the Company to any Member or other Person. All amounts so withheld or deducted with respect to any
Member shall be treated as distributions to such Member under the applicable provisions of this Agreement. If any such withholding or deduction requirement with respect to any Member exceeds the amount distributable to such Member under the
applicable provision of this Agreement, or if any such withholding or deduction requirement was not satisfied with respect to any amount previously allocated or 
  

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 distributed to such Member, such Member and any successor or assignee with respect to such Member’s Membership Units
hereby indemnifies and agrees to hold harmless the Managing Member and the Company for such excess amount or such withholding or deduction requirement, as the case may be. 
 ARTICLE VII 
 PREEMPTIVE RIGHTS 
 Section 7.01 Additional Issuances of Equity and Debt Securities of the Company. (a) If, following the Closing Date, the Company proposes
to issue additional equity securities or debt securities (other than any issuances pursuant to, or consequent upon, the exercise of the preemptive rights set forth in Section 7.02), the Company shall provide written notice to each Member of
such anticipated issuance no later than twenty (20) Business Days prior to the anticipated issuance date. Such notice shall set forth the material terms and conditions of the issuance, including the proposed purchase price for the new equity
securities or debt securities, as applicable, and the anticipated issuance date. Each Member shall have the right to purchase up to its Pro Rata Portion of such new equity securities or debt securities at the price and on the terms and conditions
specified in the Company’s notice by delivering an irrevocable written notice to the Company no later than five (5) Business Days before the anticipated issuance date, setting forth the number of such new equity securities or amount of new
debt securities, as applicable, for which such right is exercised. Such notice shall also include the maximum number of new equity securities or amount of new debt securities, as applicable, the Member would be willing to purchase in the event any
other Member elects to purchase less than its Pro Rata Portion of such equity securities or debt securities. If any Member elects not to purchase its full Pro Rata Portion of such new equity securities or debt securities, the Company shall allocate
any remaining amount among those Members (pro rata in accordance with the Membership Units, or, in the case of a debt issuance that occurs when the Company already has outstanding debt securities, the debt securities then held by each such
Member) who have indicated in their notice to the Company a desire to purchase new equity securities or debt securities in excess of their respective Pro Rata Portions. 
 (b) In the event Members do not purchase all such new equity or debt securities in accordance with the procedures set forth in Section 7.01(a), the Company shall have sixty (60) days after the expiration of
the five (5) Business Day period to sell to other Persons (including other Members) the remaining new equity or debt securities at the price and on the terms and conditions specified in the Company’s notice to the Members pursuant to
Section 7.01(a). If the Company fails to sell such equity or debt securities within sixty (60) days of the notice provided pursuant to Section 7.01(a), the Company shall not thereafter issue or sell any equity or debt securities
without first offering such equity or debt securities to the Members in the manner provided in Section 7.01(a). The Managing Member shall amend Schedule B to reflect the purchase by any Person of Membership Units in accordance with the
terms of this Section 7.01. 
  

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 Section 7.02 Additional CAC Securities. (a) The Members hereby acknowledge that the
Company has been granted preemptive rights over future issuances of certain securities by CAC (the “Newly Issued Securities”) and securities of Subsidiaries of CAC (“Other Securities”) in each case pursuant to Article VIII of the
Stockholders Agreement and that such rights (and the rights described in this Section 7.02) are subject to, qualified by, and exercisable solely in accordance with, the terms of the Stockholders Agreement. 
 (b) At any time that the Company is permitted to exercise its preemptive rights over Newly Issued Securities under the Stockholders Agreement, each
Member shall have the right to cause the Company to purchase up to such Member’s Pro Rata Portion of such Newly Issued Securities in accordance with the procedures set forth herein. At any time that the Company is permitted to exercise its
preemptive rights over Other Securities under the Stockholders Agreement, each Member shall have the right to cause the Company to purchase up to such Member’s Pro Rata Portion of such Other Securities in accordance with the procedures set
forth herein so long as a Trimaran Vehicle (or an Affiliate thereof) is participating in such issuance (either directly or indirectly through a Capital Contribution by a Trimaran Vehicle or an Affiliate to the Company). 
 (c) The Company shall provide written notice (the “Preemptive Rights Notice”) to each Member of any proposed issuance of Newly Issued
Securities or Other Securities (as the case may be) over which the Company has preemptive rights under the terms of the Stockholders Agreement promptly following the Company’s receipt of notice of such issuance pursuant to the Stockholders
Agreement. Such Preemptive Rights Notice shall set forth the material terms and conditions of the issuance, including the proposed purchase price of the Newly Issued Securities or Other Securities (as the case may be), the proposed date of issuance
of the Newly Issued Securities or Other Securities (as the case may be) and the Pro Rata Portion of Newly Issued Securities or Other Securities (as the case may be) such Member may cause the Company to purchase in connection with such issuance. Each
Member shall have a period of ten (10) Business Days from the date the Preemptive Rights Notice is delivered (the “Election Period”) within which to cause the purchase of up to such Member’s Pro Rata Portion of Newly
Issued Securities or Other Securities (as the case may be), at the price and upon the terms specified in the Preemptive Rights Notice, by delivering an irrevocable written notice (the “Election Notice”) to the Company setting out
the number of Newly Issued Securities or Other Securities (as the case may be) for which such right is exercised. Such Election Notice shall also include the maximum number of additional Newly Issued Securities or Other Securities (as the case may
be) such Member would be willing to cause the Company to purchase in the event any other Member elects to cause the purchase of less than its Pro Rata Portion of Newly Issued Securities or Other Securities (as the case may be). If any Member does
not deliver an Election Notice within the Election Period, such Member shall be deemed to have irrevocably waived any and all rights under this Section 7.02 with respect to such Newly Issued Securities or Other Securities (as the case may be)
(but not with respect to future issuances in accordance with this Section 7.02). In the event any Member elects not to cause the purchase of its full Pro Rata Portion of Newly Issued Securities or Other Securities (as the case may be), the
Company shall allocate any remaining amount among those Members (pro rata in accordance with the Membership Units then held by each such Member) who have indicated in an Election Notice a desire to cause the purchase of additional
Newly Issued Securities or Other Securities (as the case may be) in excess of their respective Pro Rata Portions. 
  

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 (d) Promptly following the end of the Election Period, the Company shall notify each electing Member of
the amount of Newly Issued Securities or Other Securities (as the case may be) for which it has exercised its rights under this Section 7.02, each such Member shall make a Capital Contribution to the Company in an amount equal to the purchase
price for such Newly Issued Securities or Other Securities (as the case may be), and the Managing Member shall apply such Capital Contributions to the purchase by the Company of such Newly Issued Securities or Other Securities (as the case may be).
The Managing Member, in its reasonable discretion, shall determine whether the Newly Issued Securities or Other Securities (as the case may be) shall be held by such Member or by the Company and, if by the Company, the number and class of new
membership interests in the Company to be issued in respect of any Capital Contributions by such Member for such Newly Issued Securities or Other Securities (as the case may be) and the terms and conditions applicable to such membership interests.
The Managing Member shall amend Schedule B to reflect the purchase of any such membership interests. Alternatively, in the event the Managing Member determines that such Member shall hold such Newly Issued Securities or Other Securities (as
the case may be) directly rather than through its membership interest in the Company, such Member hereby agrees that it shall, upon the Managing Member’s request, (i) enter into a shareholders agreement with the Managing Member (or its
designee) in respect of such Newly Issued Securities or Other Securities (as the case may be) containing substantially the same terms and conditions set forth in Articles VII, VIII, and XIII hereof, and providing that the right to vote such Newly
Issued Securities or Other Securities (as the case may be) shall remain with the Company, or, if the Company has been dissolved, shall lie with the Managing Member, until such time as the Managing Member (or its Affiliates) no longer Control,
directly or indirectly, CAC, and (ii) become a party to the Stockholders Agreement (or a similar agreement containing registration rights); provided, in each case that acquiring such securities directly and entering into such
stockholders agreement does not violate any of the provisions of the underlying agreements governing such Newly Issued Securities or Other Securities. 
 Section 7.03 Qualifications to Preemptive Rights. (a). [Intentionally Left Blank] 
 (b) Each
Member may assign its preemptive rights (in whole or in part) under the terms of this Article VII to any of its Affiliates that is a Member. Any such assignment shall be set forth in the Election Notice or the notice delivered by such Member to the
Managing Member under Section 7.01, as the case may be. 
 (c) In the event the Company holds Newly Issued Securities or Other
Securities (as the case may be) that a Member has caused the Company to purchase pursuant to the provisions of Section 7.02 and in which no Trimaran Vehicle (or its Affiliates) has an interest, the Managing Member shall not sell such Newly
Issued Securities or Other Securities (as the case may be) to any Person without the consent of such Member. For the avoidance of doubt, the provisions of this Section 7.03(c) shall in no way affect the rights or obligations of any Member
pursuant to the provisions of Section 8.04 hereof. 
  

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 ARTICLE VIII 
 TRANSFERS 
 Section 8.01 Transfer Restrictions. (a) Until the earlier of
(i) the date following an IPO upon which at least 20% of the common stock of CAC or a Subsidiary thereof has been sold pursuant to a public offering or under Rule 144 promulgated under the Securities Act; and (ii) the fifth
(5th) anniversary of the Closing Date (such earlier date, the “Initial Holding Period”), no Member, other than any Trimaran Vehicle, may Transfer any Membership Units, other than (i) to an Affiliate in accordance with the
terms of Section 8.05; (ii) to a Trimaran Vehicle or any Person controlled by or under control, or common control, of any Trimaran Principal; or (iii) pursuant to, or consequent upon, the exercise of the tag-along or drag-along rights
set forth in Sections 8.03 and 8.04, respectively, without the prior written consent of the Managing Member (which consent may not be unreasonably withheld by the Managing Member). After the Initial Holding Period, a Member, other than any Trimaran
Vehicle, may Transfer any Membership Units only in accordance with, and subject to the applicable provisions of, this Article VIII. For the avoidance of doubt, Transfers by Trimaran Vehicles shall be subject to the applicable provisions of Sections
8.01(c), (d) and (e), Section 8.03 and Section 8.04, as provided therein. 
 (b) Notwithstanding the foregoing, in no event
shall any Member, other than any Trimaran Vehicle, be entitled to Transfer any Membership Units, whether during or after the Initial Holding Period, to any Person that, in the good faith reasonable judgment of the Managing Member, is an actual or
potential competitor of, or otherwise adverse to the interests of, CAC. 
 (c) No Member shall be entitled to Transfer any Membership Units
or any other rights under this Agreement (including to an Affiliate) at any time unless the Managing Member is reasonably satisfied that such Transfer would not: 
 (i) violate the Securities Act or any state (or other jurisdiction) securities or “Blue Sky” laws applicable to the Company or
the Membership Units; 
 (ii) cause the Company to become subject to the registration requirements of the Investment Company
Act; 
 (iii) be a “prohibited transaction” under ERISA or the Code or cause all or any portion of the assets of the
Company to constitute “plan assets” under ERISA or Section 4975 of the Code; and 
  

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 (iv) cause the Company to become a “publicly-traded partnership”, as such term
is defined in Sections 469(k)(2) or 7704 of the Code. 
 (d) Any purported Transfer of Membership Units other than in accordance with this
Agreement shall be null and void, and the Company shall refuse to recognize any such Transfer for any purpose and shall not reflect in its records any change in record ownership of Membership Units pursuant to any such Transfer. 
 (e) Any Member that proposes to Transfer Membership Units in accordance with the terms and conditions hereof shall be responsible for any expenses
incurred by the Company in connection with such Transfer, other than pursuant to the exercise of registration rights under the Stockholders Agreement, in which case the expenses thereof shall be treated in accordance with the provisions of the
Stockholders Agreement, or as provided in Section 8.04 or 8.07; provided, however, that any liabilities incurred by the Company in connection with any such registration on behalf of one or more Members shall be borne by such
Members pro rata in accordance with the proceeds received by such Members in connection with such registration; provided, further, that any such Member’s liability under the foregoing proviso shall not exceed the amount of
proceeds received by such Member in such registration. 
 Section 8.02 Right of First Offer. (a) If the Managing Member is
required to consent to any Transfer of all or any portion of a Member’s Membership Units and provides such consent prior to the Initial Holding Period or if a Member desires to transfer such Membership Units following the Initial Holding Period
in accordance with the terms hereof, then a right of first offer shall be applicable with respect thereto in accordance with the following provisions: 
 (i) Any such Member shall provide the Managing Member with written notice (an “Offer Notice”) of its desire to Transfer such Membership Units. The Offer Notice shall specify the number of Membership
Units such Member wishes to Transfer, the proposed purchase price for such Membership Units and any other terms and conditions material to the sale proposed by such Member. 
 (ii) The Managing Member shall have a period of up to thirty (30) days following receipt of the Offer Notice to elect to purchase (or
to cause one or more of its Affiliates to purchase) all such Membership Units on the terms and conditions set forth in the Offer Notice by delivering to the transferring Member a written notice thereof. 
 (iii) If the Managing Member elects to purchase (or to cause one or more of its Affiliates to purchase) the Membership Units which are the
subject of the proposed Transfer within the applicable thirty (30) day period, such purchase shall be consummated within thirty (30) days after the date on which the Managing Member notifies the transferring Member of such election.

  

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 (iv) If the Managing Member does not elect to purchase the Membership Units within such
initial thirty (30) day period, or if earlier, upon notice by the Managing Member to the transferring Member of its election not to purchase the Membership Units subject to the Offer Notice, the transferring Member shall provide to each other
Member the Offer Notice (which notice to the transferring Member, if given, shall be provided to each other Member). Each Member shall have a period of up to fifteen (15) days following receipt of the Offer Notice to elect to purchase all such
Membership Units on the terms and conditions set forth in the Offer Notice (each electing Member, a “Purchasing Member”) by delivering to the transferring Member a written notice thereof; provided, if there is more than one
Purchasing Member, the Membership Units subject to the Offer Notice will be allocated pro rata based on the relative number of Membership Units held by each Purchasing Member. 
 (v) If Members do not elect to purchase the Membership Units subject to the Offer Notice within such fifteen (15) day period, the
transferring Member may Transfer such Membership Units at any time within sixty (60) days following such period at a price which is not less than the purchase price and on terms and conditions no more favorable to the purchaser than those
specified in the Offer Notice. 
 (vi) The provisions of this Section 8.02 shall not apply to Transfers of Membership
Units to Affiliates made in accordance with Sections 8.05 and 8.06 or to any distribution of Membership Units by the Trimaran Vehicles to their respective members or limited partners. 
 Section 8.03 Tag-Along Rights. (a) In the case of a proposed Transfer of the Membership Units held by any Trimaran Vehicle (the
“Transferring Member”) other than (i) to its Affiliates or any Person controlled by or under control, or common control, of any Trimaran Principal; (ii) pursuant to, or consequent upon the exercise of, any drag-along right
set forth in Section 8.04, (a “Tag-Along Transfer”); or (iii) pursuant to an Equity Syndication, each other Member may exercise tag-along rights in accordance with the terms, conditions and procedures set forth herein (any
Member exercising such rights, a “Tagging Member”). 
 (b) The Transferring Member shall promptly give notice (a
“Tag-Along Notice”) to each Member of any Tag-Along Transfer, setting forth the number of Membership Units proposed to be Transferred, the name and address of the Transferee, the proposed amount and form of consideration for such
Membership Units, and any other material terms and conditions of the Tag-Along Transfer. Each Member shall have a period of thirty (30) days from the date of the Tag-Along Notice within which to elect to sell up to its Pro Rata Portion of

  

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 Membership Units in connection with such Tag- Along Transfer. Any Member may exercise such right by delivery of an
irrevocable written notice to the Transferring Member specifying the number of Membership Units such Member desires to include in the Tag-Along Transfer. If the Transferring Member is unable to cause the Transferee to purchase all the Membership
Units proposed to be Transferred by the Transferring Member and the Tagging Members, then the number of Membership Units each such Member is permitted to sell in such Tag-Along Transfer shall be scaled back pro rata based on the number
of Membership Units held by such Member relative to the number of Membership Units held by all Members participating in such Tag-Along Transfer. The Transferring Member shall have a period of thirty (30) days following the expiration of the
thirty (30) day period mentioned above to sell all the Membership Units agreed to be purchased by the Transferee, on the payment terms specified in the Tag-Along Notice. 
 (c) Each Tagging Member shall agree (i) to make the same representations, warranties, covenants, indemnities and agreements to the Transferee as
made by the Transferring Members in connection with the Tag-Along Transfer (other than any non-competition or similar agreements or covenants that would bind the Tagging Member or its Affiliates), and (ii) to the same terms and conditions to
the transfer as the Transferring Members agree. Notwithstanding the foregoing, however, all such representations, warranties, covenants, indemnities and agreements shall be made by each Transferring Member and each Tagging Member severally and not
jointly, and any liability for breach of any such representations and warranties related to CAC shall be allocated among each Transferring Member and each Tagging Member pro rata based on the relative number of Membership Units to be
Transferred by each of them, and the aggregate amount of liability for each such Transferring Member and Tagging Member shall not exceed the U.S. dollar value of the total consideration to be paid by the Transferee to such Transferring Member and
Tagging Member, respectively. 
 (d) Each Member hereby acknowledges that “Management Stockholders” under the Stockholders
Agreement may have tag-along rights with respect to shares of common stock of CAC in connection with Transfers of Membership Units triggering tag-along rights hereunder. 
 (e) Each Member may assign its tag-along rights (in whole or in part) under the terms of this Section 8.03 to any of its Affiliates that is a Member. Any such assignment shall be set forth in the Election Notice
or the notice delivered by such Member to the Managing Member under Section 8.03(b). 
 Section 8.04 Drag-Along Rights.
(a) If the Trimaran Vehicles (the “Selling Members”) agree to Transfer, in any single or series of related transactions, greater than fifty percent (50%) of the aggregate number of Membership Units held at the time of such
Transfer by the Selling Members to a non-affiliated third party (“Drag-Along Transfer”), the Selling Members may exercise drag-along rights in accordance with the terms, conditions and procedures set forth herein. 
  

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 (b) The Managing Member shall promptly give notice (a “Drag-Along Notice”) to each other
Member (the “Drag-Along Member”) of any election by the Selling Members to exercise their drag-along rights under this Section 8.04, setting forth the name and address of the Transferee, the total number of Membership Units
proposed to be Transferred by the Selling Members, the proposed amount and form, ratable amount and choices (if applicable) of consideration for such Membership Units (provided, that the Drag-Along Members shall receive the identical form of
consideration that the Selling Members receive in any such Transfer), and all other material terms and conditions of the Drag-Along Transfer. Such notice shall also specify the number of Membership Units such Drag-Along Member shall be required to
transfer, up to such Drag-Along Member’s Pro Rata Portion of Membership Units. Any transfer of Membership Units by a Drag-Along Member pursuant to the terms hereof shall be at the price per Membership Unit specified in the Drag-Along Notice.

 (c) Each Drag-Along Member must agree (i) to make the same representations, warranties, covenants, indemnities and agreements as made
by the Selling Members in connection with the Drag-Along Transfer (other than any non-competition or similar agreements or covenants that would bind the Drag-Along Member or its Affiliates), and (ii) to the same terms and conditions to the
transfer as the Selling Members agree. Notwithstanding the foregoing, however, all such representations, warranties, covenants, indemnities and agreements shall be made by each Selling Member and Drag-Along Member severally and not jointly and any
liability for breach of any such representations and warranties related to CAC shall be allocated among each Selling Member and Drag-Along Member pro rata based on the relative number of Membership Units Transferred by each of them,
and the aggregate amount of liability for each such Selling Member and Drag-Along Member shall not exceed the U.S. dollar value of the total consideration to be paid by the Transferee to such Selling Member and Drag-Along Member, respectively.

 (d) In the event that any transfer pursuant to this Section 8.04 is structured as a merger, consolidation, or similar business
combination, each Drag-Along Member must further agree to (i) vote in favor of the transaction, (ii) take such other action as may be required to effect such transaction, and (iii) take all action to waive any dissenters, appraisal or
other similar rights with respect thereto. 
 (e) Solely for purposes of Section 8.04(d) and in order to secure the performance of each
Member’s obligations under Section 8.04(d), each Member hereby irrevocably appoints the Managing Member the attorney-in-fact and proxy of such Member (with full power of substitution) to vote, provide a written consent or take any other
action with respect to its Membership Units as described in this paragraph if, and only in the event that, such Member fails to vote or provide a written consent with respect to its Membership Units in accordance with the terms of
Section 8.04(d)(i) or fails to take any other action in accordance with the terms of Section 8.04(d)(ii) or Section 8.04(d)(iii) (each such Member, a “Breaching Drag-Along Member”) within ten (10) days of a
request for such vote, written consent or action. Upon such failure, the Managing Member shall have and is hereby irrevocably granted a proxy to vote or provide a written consent with respect to each such Breaching Drag-Along Member’s

  

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 Membership Units for the purposes of taking the actions required by Section 8.04(d). Each Member intends this proxy
to be, and it shall be, irrevocable and coupled with an interest, and each Member shall take such further action and execute such other instruments as may be necessary to effectuate the intent of this proxy and hereby revoke any proxy previously
granted by it with respect to the matters set forth in Section 8.04(d) with respect to the Membership Units owned by such Member. 
 (f)
If any Drag-Along Member fails to transfer to the Drag-Along Buyer the Membership Units to be sold pursuant to this Section 8.04, the Selling Members may, at their option, in addition to all other remedies they may have, deposit the purchase
price (including any promissory note constituting all or any portion thereof) for such Membership Units with any national bank or trust company having combined capital, surplus and undivided profits in excess of $500 million (the “Escrow
Agent”), and thereupon all of such Drag-Along Member’s rights in and to such Membership Units shall terminate. Thereafter, upon delivery to the Company by such Drag-Along Member of appropriate documentation evidencing the transfer of
such Membership Units to the Drag-Along Buyer, the Selling Members shall instruct the Escrow Agent to deliver the purchase price (without any interest from the date of the closing to the date of such delivery, any such interest to accrue to the
Company) to such Drag-Along Member. 
 (g) Any Transfer by the Trimaran Vehicles of Membership Units covered by this Section 8.04 may be
structured as an auction and may be initiated by the delivery to the Company and the other Members of a written notice that Trimaran has elected to initiate an auction sale procedure. Trimaran shall be entitled to take all steps reasonably necessary
to carry out an auction of the Company and its Subsidiaries, including, without limitation, selecting an investment bank, providing confidential information (pursuant to confidentiality agreements), selecting the winning bidder and negotiating the
requisite documentation. The Company and each Member shall provide assistance with respect to these actions as reasonably requested. 
 (h)
Any transaction costs, including transfer taxes and legal, accounting and investment banking fees incurred by the Company and the Trimaran Vehicles in connection with a Transfer of Membership Interests covered by this Section 8.04 shall, unless
the applicable purchaser refuses, be borne by the Company in the event of a merger, consolidation or sale of assets and shall otherwise be borne by the Members on a pro rata basis based on the consideration received by each Member with respect to
such transaction. 
 (i) The Members hereby acknowledge that the Company shall have the right to exercise drag along rights in respect of
shares of Company Stock (as defined in the Stockholders Agreement) pursuant to the terms and conditions of the Stockholders Agreement in the event that the Selling Members exercise rights under this Section 8.04, and the Selling Members shall
have the right to cause the Company to exercise such rights under the Stockholders Agreement. 
  

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 Section 8.05 Transfers to Affiliates. Subject to Section 8.06, any Member may Transfer
any Membership Units to an Affiliate of such Member; provided that such Transfer shall not be effective unless and until the Managing Member is reasonably satisfied that such Transfer complies with the conditions set forth in clauses
(i) through (iv) of Section 8.01(c); and, provided further that, notwithstanding anything to the contrary herein, transfers to Affiliates shall not trigger the right of first offer, tag-along or drag-along rights
described in Sections 8.02, 8.03 and 8.04, respectively; provided further that, in the case of American Securities, for purposes of this Section 8.05 and corresponding provisions addressing Transfers to Affiliates, an
“Affiliate” thereof shall mean American Securities Capital Partners, L.P., American Securities Capital Partners L.L.C. and any investment fund managed by either of them. 
 Section 8.06 Rights and Obligations of Transferees. Any Transferee of Membership Units (including Affiliates of the transferor) shall be
required, at the time of and as a condition to such Transfer, to become a party to this Agreement by executing and delivering such documents as may be necessary, in the reasonable opinion of the Managing Member, to make such Person a party thereto,
whereupon such Transferee will be treated as a Member for all purposes of this Agreement (and will be subject to all the rights and obligations of the transferor in relation to Transferred Membership Units). Notwithstanding anything to the contrary
herein, the rights of any Investor Member under Section 3.04 to select directors shall not be transferable (including to their respective Affiliates). 
 Section 8.07 Registration Rights. (a) The Members hereby acknowledge that the Company has entered into the Stockholders Agreement pursuant to which the Company has been granted certain demand and
“piggyback” registration rights in respect of certain securities of CAC held by the Company and that such rights (and the rights described in this Section 8.07) are subject to, qualified by, and exercisable solely in accordance with,
the terms and conditions of the Stockholders Agreement. The Company shall not consent to the revision, amendment or alteration of the Stockholders Agreement in a manner that would have a material adverse effect on the rights of an Investor Member or
Trimaran without the consent of such Member. 
 (b) Following the later of (i) 270 days following the completion of an IPO and
(ii) the time at which CAC becomes eligible to register securities using a Form S-3 (or any successor form thereto), an Investor Member holding 15% or more of the outstanding Membership Units (a “Demand Investor”) shall have
the right to cause the Company to exercise one (1) of the Company’s Short-Form Demand Rights to require the registration by CAC of up to a number of shares of common stock of CAC (the “Registrable Shares”) then held by the
Company representing that portion of such Demand Investor Member’s proportionate interest in the Company attributable to such Registrable Shares (an “Investor Demand”). For purposes of this Agreement, a “Short Form
Demand Right” means the right of the Company, pursuant to the terms and conditions of the Stockholders Agreement, to require the Company to register any of the Company’s Registrable Shares on Form S-3 or any similar short-form
registration statement if the Company qualifies to use such short form. 
  

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 (c) Notwithstanding anything to the contrary herein, Investor Demand rights shall be subject to the
following limitations: 
 (i) the Company, in its sole discretion, shall have the right to delay any Investor Demand for a
period of no more than nine (9) months from the date an Investor Demand is requested (which period shall be inclusive of, and not in addition to, any registration delay periods under the Stockholders Agreement); provided that the Company
may exercise each such delay right on only one occasion; 
 (ii) if the Company elects to exercise any of its demand rights
under the Stockholders Agreement on its own behalf at any time, it shall have the right to preempt any demand request it receives from Investor, by delivery of written notice to the applicable Demand Investor within thirty (30) Business Days of
its receipt of the Demand Investor’s demand request, in which case Demand Investor shall not be deemed to have exercised an Investor Demand right; 
 (iii) the aggregate public offering price of the Registrable Shares subject to an Investor Demand, as the case may be, shall be equal to at least $15.0 million; and 
 (iv) an underwriter selected by the applicable Demand Investor shall advise the Company on the maximum number of Registrable Shares that
may be sold pursuant to the applicable Investor Demand, such advice to be based on such underwriter’s determination of whether such sale would have a negative impact on the market for the shares of Company, and if the Managing Member concurs
with such advice (such concurrence not to be unreasonably withheld), the applicable Demand Investor shall be permitted to exercise such Investor Demand right in an amount not to exceed such maximum number of Registrable Shares. 
 (d) The Company shall distribute the proceeds (net of any expenses incurred by the Company in respect of such registration) of the sale of any
Registrable Shares that are the subject of an Investor Demand to the applicable Demand Investor who exercised the Investor Demand and any other participating Members, and shall cancel on its books the corresponding membership interests in the
Company held by such Demand Investor and any other participating Members, and thereupon all of such Demand Investors’ and any other participating Members’ rights in and to such membership interests shall terminate. 
 (e) A Demand Investor may withdraw an Investor Demand at any time after its delivery of the Investor Demand Notice thereof. Upon receipt of a notice of
withdrawal from the Demand Investor, the Company shall, and shall cause CAC to, cease all efforts to secure effectiveness of the applicable registration statement, in which case the applicable Demand Investor shall be deemed to have exercised such
Investor Demand right, except if the withdrawal is made following a delay by the Company pursuant to Section 8.07(c)(i). 
  

 31 

 (f) Notwithstanding anything to the contrary herein, in the event Demand Investor exercises any Investor
Demand rights in accordance with the provisions of this Section 8.07 or any Member exercises its rights under Section 8.07(g) below, the Managing Member shall (i) cause the Company to issue to such Members additional classes of
membership interests in the Company and (ii) amend the terms of this Agreement (including Article V hereof), in each case in order to reflect the proportionate economic interest of each such Member in the Company following the exercise of such
rights; provided that no such amendments or issuances shall have an adverse economic effect on a Member. 
 (g) If the Company does
not elect to exercise its “piggyback” registration rights in connection with any registered offering by CAC or in the event of a “demand” registration initiated by the Company, each Member shall have the right to cause the
Company, pursuant to such registration rights, to request the inclusion by CAC in such registration of up to a number of securities of CAC then held by the Company representing that portion of such Member’s proportionate interest in the Company
attributable to such securities. The Company shall distribute the proceeds (net of any expenses incurred by the Company in respect of such registration) of the sale of any securities that are included in such registration to such Member, and shall
cancel on its books the corresponding membership interests held by such Member, and thereupon all of such Member’s rights in and to such membership interests shall terminate. 
 ARTICLE IX 
 COMPANY EXPENSES, BOOKS AND RECORDS, 
 TAX MATTERS 
 Section 9.01
Fees and Expenses. Subject to Section 8.01(e), the Managing Member shall cause the Company or a subsidiary thereof as determined by the Managing Member to pay all reasonable expenses incurred in connection with the formation of the
Company, this Agreement and the Company’s investments in the securities of CAC. Appropriate reserves for contingent liabilities may be withheld from distribution to the Members, as determined by the Managing Member in its sole discretion.

 Section 9.02 Fiscal Year and Method of Accounting. The fiscal year of the Company shall begin on January 1 of each year
(except for the first fiscal year of the Company, which shall begin on the date upon which the Certificate of Formation was filed) and end on the following December 31 (except for the last fiscal year of the Company, which shall end on the date
on which the Company is terminated). The Managing Member shall select the appropriate method of accounting for the Company. 
  

 32 

 Section 9.03 Records and Information. The books and records of the Company shall be
maintained at the principal office and place of business of the Company. 
 Section 9.04 Financial Statements and Reports. The
Managing Member shall oversee the accounting, tax and recordkeeping matters of the Company. The Managing Member (i) shall provide to each Investor Member quarterly and annual financial statements of the Company (in the case of annual financial
statements, audited by an independent public accountant in accordance with U.S. generally accepted accounting principles) and (ii) shall use reasonable best efforts to cause CAC to provide to each Investor Member El Pollo Loco, Inc.’s
monthly reporting package, in each case to the same extent as to any Trimaran Vehicle (solely in its capacity as a Member hereof), provided that no CAC financial statements or monthly reporting package shall be provided to any Investor Member
pursuant to the terms hereof so long as such Investor Member has designated at least one director to serve on the CAC Board under the terms of Section 3.04 (it being understood and agreed that the Persons to be designated by an Investor Member
as Non-Trimaran Directors pursuant to Section 3.04 hereof shall have the right as Non-Trimaran Directors to receive information and reports of CAC to the extent provided by Delaware law and, subject to any confidentiality obligations, shall
have the right to share such information and reports with the applicable Investor Member). The Managing Member shall cause each Member to receive, within a reasonable time after the close of each fiscal year and fiscal quarter, the unaudited
financial statements of the Company for such period. The Managing Member shall also provide Members with notice of (i) any major acquisitions, dispositions or other major transactions that the Managing Member deems material to the Company and
(ii) any event that requires notice to be given to the Company under the Stockholders Agreement. 
 Section 9.05 U.S. Tax
Classification. (a) The Company shall be classified as a partnership for U.S. federal income tax purposes. Neither the Company nor any Member shall take any action so as to cause the Company to be treated as an association taxable as a
corporation for U.S. federal income tax purposes. 
 (b) The Managing Member shall use reasonable efforts not to take any action that could
cause any Member (i) to be treated as engaged in a trade or business within the United States for U.S. federal income tax purposes as a result of such Member’s investment in the Company; or (ii) to have any tax filing obligations in
any non-U.S. jurisdiction, other than any non-U.S. jurisdiction under the laws of which such Member is organized. The Company shall use commercially reasonable efforts not to undertake activities that would cause any Member to realize
“unrelated business taxable income” within the meaning of Section 512 of the Code solely as a result of such activities. 
 (c) The Managing Member shall cause the Company to provide each Member with such information as is necessary for such Member to meet its U.S. tax filing obligations. 
 (d) The Company shall separately identify each block of Newly Issued Securities or Other Securities it acquires so as to keep the holding period of such
Newly Issued Securities or Other Securities distinct from each other block of securities for federal income tax purposes. 
  

 33 

 Section 9.06 Tax Matters Member. Pursuant to Section 6231(a)(7) of the Code, the
Managing Member is hereby designated as the tax matters member, and shall assume and be responsible for duties provided in the Code for the “tax matters partner.” 
 ARTICLE X 
 LIABILITY, INDEMNIFICATION AND CONTRIBUTION 

Section 10.01 Liability of Members. (a) Liability to the Company and Other Members. No Member (or any of its Affiliates), or
any direct or indirect partner, member, shareholder, employee, director, officer or agent of such Member or any of its Affiliates (each, an “Indemnified Person”) shall be liable, responsible or accountable in damages or otherwise to
the Company or to any of the other Members, their successors or assigns except (i) in connection with any breach of this Agreement by such Member or (ii) by reason of acts or omissions related to the Company which are found by a court of
competent jurisdiction upon entry of a final and non-appealable judgment to be the result of such Indemnified Person’s fraud, gross negligence or willful misconduct. 
 (b) Liability to Third Parties. No Member of the Company shall be liable under a judgment, decree, or order of a court, or in any other manner, for a debt, obligation, or liability of the Company or of any
other Member. 
 Section 10.02 Indemnification. To the fullest extent permitted by law, the Company shall indemnify, defend and
hold harmless each Indemnified Person from and against any loss, liability, damages, cost or expense (including legal fees and expenses and any amounts paid in settlement) resulting from a claim, demand, lawsuit, action or proceeding by reason of
any act or omission performed or omitted by such Indemnified Person on behalf of the Company and in a manner reasonably believed to be within the scope of the authority conferred on such Indemnified Person by this Agreement; provided that
such acts or omissions of such Indemnified Person are not found by a court of competent jurisdiction upon entry of a final and non-appealable judgment to constitute fraud, gross negligence or willful misconduct. Expenses, including legal fees,
incurred by an Indemnified Person and relating to any claim, demand, lawsuit, action or proceeding for which indemnification may be sought under this Section 10.02 shall be paid by the Company upon demand by the Indemnified Person;
provided that the Indemnified Person shall reimburse the Company for such expenses if it is ultimately determined that such Indemnified Person is not entitled to indemnification hereunder. Notwithstanding the foregoing, the provisions of this
Section 10.02 shall terminate upon a dissolution of the Company in accordance with Section 11.01; provided, however, that any claims in respect of actions or omissions occurring prior to the dissolution of the Company shall survive such
dissolution. 
  

 34 

 Section 10.03 Exclusivity. The remedies provided for in this Article X are not exclusive and
shall not limit any rights or remedies that may otherwise be available to any Indemnified Person at law or in equity. 
 Section 10.04
Fiduciary Duty. Notwithstanding any other provision of this Agreement, to the fullest extent permitted by Section 1101(c) of the Act, no Covered Person shall owe any duties at law or in equity (including fiduciary duties) to any other
Covered Person other than any duties and obligations expressly set forth in this Agreement. The provisions of this Agreement, to the extent that they restrict the duties and liabilities of a Covered Person otherwise existing at law or in equity, are
agreed by the Members to replace such other duties and liabilities of such Covered Person. A Covered Person acting under this Agreement shall not be liable to the Company or to any other Covered Person for its good faith reliance on the provisions
of this Agreement. Nothing in this Article 10.04 shall eliminate any implied covenant of good faith and fair dealing between Covered Persons. 
 ARTICLE XI 
 DISSOLUTION, LIQUIDATION AND TERMINATION 
 Section 11.01 Dissolution. (a) The Company shall be dissolved and its affairs shall be wound up upon the first of the following to
occur: 
 (i) a determination by the Managing Member to dissolve the Company; 
 (ii) any dissolution required by operation of law; or 
 (iii) upon the sixth anniversary of an IPO. 
 (b) Dissolution of the Company shall be effective as of the day on which the event occurs giving rise to the dissolution, but the Company shall not terminate until there has been a winding up of the Company’s
business and affairs, and the Company’s assets have been distributed as provided in Section 11.03 and in the Act. 
 (c)
Notwithstanding any other provision of this Agreement, the bankruptcy of a Member shall not cause such Member to cease to be a Member of the Company and despite the occurrence of such an event, the business of the Company shall continue without
dissolution. 
 (d) Notwithstanding any other provision of this Agreement, each Member waives any right it might have under the Act or
otherwise to (i) agree in writing to dissolve the 
  

 35 

 Company upon such Member’s bankruptcy, or upon the occurrence of an event that causes such Member to cease to be a
member of the Company, and (ii) apply for judicial dissolution of the Company. 
 Section 11.02 Cancellation of Certificate.
Upon the dissolution and completion of the winding up of the Company and the termination of this Agreement, the Certificate of Formation shall be canceled in accordance with the provisions of Section 18-203 of the Act and the Members shall be
promptly notified of such dissolution. 
 Section 11.03 Liquidation. Upon dissolution of the Company, as expeditiously as is
reasonable, the Managing Member shall cause the Company to pay its liabilities and make distributions in the following order of priority: 
 (a) to creditors, including Members who are creditors, to the extent permitted by law, in satisfaction of liabilities of the Company (whether by payment or by establishment of reserves); and 
 (b) to the Members, pro rata in accordance with their respective Membership Units. 
 Section 11.04 Accounting on Liquidation. Upon liquidation, a proper accounting shall be made by the Company’s accountants of the
Company’s assets, liabilities and results of operations through the last day of the month in which the Company is terminated. 
 Section 11.05 Return of Members’ Capital Contribution. A Member shall look solely to the Company’s assets for the return of such Member’s Capital Contribution. If the assets remaining after payment or discharge of
all debts and liabilities of the Company are insufficient to return such Member’s Capital Contribution, the Member shall have no recourse against any other Member except to the extent of any required Capital Contribution of any other Member
which has not been paid when due. 
 Section 11.06 Termination. (a) This Agreement shall terminate, and the Company shall be
dissolved, upon the earlier to occur of (i) six (6) years following an IPO and (ii) such time as the distributions provided for in Section 11.03 have been made (the “Termination Date”). 
 (b) Upon the termination of this Agreement, no party shall have any liability or obligation to any other party hereunder, provided that
(i) the termination of this Agreement shall not relieve a party from liability for any breach of this Agreement on or prior to the Termination Date, and (ii) Article X shall survive termination of this Agreement in accordance with its
terms. 
  

 36 

 ARTICLE XII 
 REPRESENTATIONS AND WARRANTIES 
 Section 12.01 Member Representations. Each Member
hereby represents and warrants to the Company as follows: 
 (a) If the Member is a corporation, partnership, limited liability company,
trust, estate or other entity, the Member is empowered, authorized and qualified to become a Member subject to the terms and conditions of this Agreement, and the person signing this Agreement on behalf of the Member has been duly authorized by the
Member to do so; 
 (b) If the Member is an individual, the Member is of legal age to execute this Agreement and is legally competent to do
so; 
 (c) This Agreement has been duly authorized, executed and delivered by the Member and, upon due authorization, execution and delivery
by the other parties hereto, will constitute the valid and legally binding agreement of the Member, enforceable in accordance with its terms against the Member; 
 (d) The execution, delivery and performance of this Agreement by the Member does not and will not result in a breach of any of the terms, conditions or provisions of, or constitute a default under, any indenture,
mortgage, deed of trust, credit agreement, note or other evidence of indebtedness, or any lease or other agreement, or any license, permit, franchise or certificate, to which the Member is a party or by which it is bound or to which any of its
properties are subject, or require any authorization or approval under or pursuant to any of the foregoing, or violate the organizational documents of the Member, or violate in any material respect any statute, regulation, law, order, writ,
injunction or decree to which the Member is subject; 
 (e) (i) The Member understands that the offering and sale of the Membership
Units are intended to be exempt from registration under the Securities Act and applicable U.S. state securities laws in reliance on the private placement exemption from registration provided in Section 4(2) of the Securities Act and Regulation
D promulgated thereunder and exemptions under applicable U.S. state securities laws and, in the case of persons that are not U.S. persons, in reliance on exemptions under the applicable laws of the non-U.S. jurisdiction in which the Membership Units
are being offered and sold, and the Member agrees that it shall not engage in any Transfer of the Membership Units it acquires in any manner that would require the registration of the Membership Units under the Securities Act or under the laws of
any non-U.S. jurisdictions. 
  

 37 

 (ii) The Member is an “accredited investor” within the meaning of Regulation D
of the Securities Act. 
 (iii) Each Member (A) directly or indirectly, is acquiring the Membership Units in compliance
with all applicable laws, rules, regulations and other legal requirements including, without limitation, the legal requirements of jurisdictions in which such Member is resident and in which such acquisition is being consummated, and (B) has
consulted with legal counsel and financial, accounting, regulatory and tax advisors, as necessary, to ensure it is eligible to, directly or indirectly, acquire all or any part of the Membership Units. 
 (f) The Member understands that the Company has not been registered as an investment company under the Investment Company Act in reliance upon an
exemption from such registration, it agrees that any Membership Units acquired by such Member may not be sold, offered for sale, Transferred, pledged, hypothecated or otherwise disposed of in any manner that would require the Company to register as
an investment company under the Investment Company Act, and it represents and warrants that it is a “qualified purchaser” as defined in Section 2(a)(51)(A) of the Investment Company Act (a “Qualified Purchaser”);

 (g) If the Member would be an “investment company” but for the exclusions from the Investment Company Act provided by
Section 3(c)(1) or Section 3(c)(7) thereof, all direct and indirect beneficial owners of such Member’s outstanding securities (as such term is defined in the Investment Company Act) that acquired such securities on or before
April 30, 1996 have consented to such Member’s treatment as a Qualified Purchaser; 
 (h) The Member agrees to deliver to the
Managing Member such information as to certain matters under the Securities Act and the Investment Company Act as the Managing Member may reasonably request in order to ensure compliance with such Acts and the availability of any exemptions
thereunder; 
 (i) The Member is acquiring Membership Units for the Member’s own account as principal for investment and not with a view
to the distribution or sale thereof; 
 (j) The Member has such knowledge and experience in financial and business matters that it is capable
of evaluating the merits and risks of its investment in the Membership Units; 
 (k) The Member has been given the opportunity to ask
questions of, and receive answers from, the Company concerning the terms and conditions of, and other matters pertaining to, this investment, and has had access to such financial and other information concerning the Company as it has considered
necessary to make a decision to invest in the Company and has availed itself of this opportunity to the full extent desired; 
  

 38 

 (l) The Member has no need for liquidity in this investment, has the ability to bear the economic risk of
this investment, and at the present time and in the foreseeable future can afford a complete loss of this investment; 
 (m) The Member
acknowledges that neither the Company, the Managing Member nor any Affiliate thereof has rendered any investment advice or securities valuation advice to Member, and that the Member is neither subscribing for nor acquiring any interest in the
Company in reliance upon, or with the expectation of, any such advice, or in reliance upon any materials prepared by the Managing Member or any of its Affiliates; 
 (n) No representations or warranties have been made to the Member with respect to the investment in the Membership Units or the Company other than the representations set forth herein, and the Member has not relied
upon any representation or warranty not provided herein in making its investment in the Company; 
 (o) If the Member is a corporation,
partnership, limited liability company, trust or other entity, it was not formed or recapitalized for the specific purpose of acquiring the Membership Units; 
 (p) Either (i) none of the funds that Member is using or will use to fund its purchase are assets of an employee benefit plan as defined in Section 3(3) of ERISA, subject to Title I of ERISA, or a plan
described in Section 4975(e)(1) of the Code, or an entity whose underlying assets include plan assets for purposes of ERISA by reason of a plan’s investment in the entity (any such plan under ERISA or the Code or any such entity
collectively referred to as a “Plan”) or (ii)(x) some or all of the funds that the Member is using or will use to fund its purchase are assets of one or more Plans and (y) assuming that the Company is not a “party in
interest” (within the meaning of Section 3(14) of ERISA) or a “disqualified person” (within the meaning of Section 4975 of the Code) with respect to any Plan other than those Plans previously identified by the Company to the
Member in writing, the purchase of the Membership Units by the Member does not and will not constitute or result in a non-exempt “prohibited transaction” within the meaning of Section 406 of ERISA or Section 4975(c) of the Code;
and 
 (q) The Member acknowledges that the Company has relied and will rely upon the representations and warranties of the Member set forth
in this Agreement and that all such representations and warranties shall survive the date of signing of this Agreement. Without limiting the foregoing, each Member agrees to give the Company prompt written notice in the event that any representation
of such Member contained in this Section 12.01 ceases to be true at any time following the Closing Date. 
  

 39 

 Section 12.02 Company Representation. Prior to the date hereof, the Company has not engaged
in any business activities, conducted any operations or incurred any liabilities, in each case other than in connection with its formation or the transactions contemplated by the Purchase Agreement. 
 ARTICLE XIII 
 MISCELLANEOUS
PROVISIONS 
 Section 13.01 Notices. Unless otherwise specified herein, all notices, consents, approvals, reports,
designations, requests, waivers, elections and other communications authorized or required to be given pursuant to this Agreement shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by
personal hand-delivery, by facsimile transmission, by electronic mail, by mailing the same in a sealed envelope, registered first-class mail, postage prepaid, return receipt requested, or by air courier guaranteeing overnight delivery, sent to the
Member at the address given for such Member on Schedule A hereto or such other address as such Member may specify by notice to the Company. Any notice, request, or consent to the Company must be sent to the following address: 
 Trimaran Pollo Partners, L.L.C. 
 c/o
Trimaran Fund Management, L.L.C. 
 622 3rd Avenue, 35th Floor 
 New York, New York 10017 
 Attention: Steven
A. Flyer 
 Telephone: 212-885-4735 
 Fax: 212-885-4350 
 Section 13.02 Entire Agreement. This Agreement embodies the entire agreement and understanding of
the parties and supersedes all prior agreements and understandings between the parties with respect to the subject matter hereof, including any letter agreement entered into between the Managing Member (or any of its Affiliates) and any other Member
prior to the Closing Date. 
 Section 13.03 Confidentiality. (a) No Member shall disclose any material term of this
Agreement to any third party without the written consent of the other Members, except (a) as required by applicable law, (b) to any Affiliate of such Member, (c) to the holders of any equity interests in such Member or its direct
parent, or (d) to the legal, accounting, financial or other representatives of such Member (collectively, “Representatives”). Notwithstanding the foregoing, prior to any disclosure to the Persons set forth in clauses (a) through
(d) of the preceding sentence, such Persons must agree to keep any such disclosure confidential. 
 (b) Each Member agrees that it shall
not disclose to any third party, and shall cause its Affiliates and Representatives not to disclose to any third party, any Confidential Information 
  

 40 

 without the prior written consent of the Managing Member, and each Member shall use due care to ensure that any such
Confidential Information received by it is kept confidential. As used herein, “Confidential Information” means all information relating to the Company or any of its Subsidiaries, from whatever source obtained, except for any such
information which at the time of disclosure was in the public domain or otherwise in the possession of the disclosing Person unless such information was placed into the public domain or became known to such disclosing person in violation of any
non-disclosure obligation, including, without limitation, this Section 13.03. Nothing in this Section 13.03 shall prohibit any Member or its Representatives from disclosing Confidential Information (i) as required by applicable law or
legal process (subject to compliance with Section 13.03(c)), (ii) to any Affiliate of such Member, (iii) to the holders of any equity interests in such Member or its direct parent, (iv) to the Representatives of such Member or
(v) to one or more Persons in connection with a proposed sale of such Member’s interests in the Company in accordance with this Agreement. Notwithstanding the foregoing, prior to any disclosure to the Persons set forth in clauses
(i) through (v) of the preceding sentence, any such Persons must agree to keep any such information disclosed confidential. 
 (c)
In the event that a Member or any of its Affiliates or Representatives is required by law or legal process to disclose any Confidential Information or to make any other disclosure prohibited by this Section 13.03, it shall provide the Company
with prompt notice of each such requirement, to the extent practicable, so that Company may seek an appropriate protective order or waive compliance with the provisions of this Agreement or both. If, absent the entry of a protective order or the
receipt of a waiver under this Agreement, a Member or its Affiliates or Representatives are, after consultation with counsel, legally compelled to disclose Confidential Information, then such Member or its Affiliates or Representatives, as
applicable, may disclose such Confidential Information to the extent legally required and agree to exercise reasonable commercial efforts to obtain assurance that confidential treatment will be accorded any Confidential Information so disclosed.

 Section 13.04 Amendments. The terms and provisions of this Agreement may not be modified or amended at any time without the
prior written consent of Trimaran and each Investor Member (other than amendments made in accordance with Sections 4.02, 7.02(d) and 8.07(f) hereof). 
 Section 13.05 Governing Law; Jurisdiction. THIS AGREEMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF.
ANY ACTION OR PROCEEDING AGAINST THE PARTIES RELATING IN ANY WAY TO THIS AGREEMENT MAY BE BROUGHT AND ENFORCED EXCLUSIVELY IN THE COURTS OF THE STATE OF DELAWARE OR (TO THE EXTENT SUBJECT MATTER JURISDICTION EXISTS THEREFOR) THE U.S. DISTRICT COURT
FOR THE DISTRICT OF DELAWARE, AND THE PARTIES IRREVOCABLY SUBMIT TO THE JURISDICTION OF BOTH SUCH COURTS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING. 
  

 41 

 Section 13.06 Severability. If any provision of this Agreement shall be held to be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 13.07 Further Assurances. In connection with this Agreement and the transactions contemplated hereby, each Member shall execute and deliver any additional documents and instruments and perform any
additional acts that the Managing Member determines to be necessary or appropriate to effectuate and perform the provisions of this Agreement and those transactions. 
 Section 13.08 Binding Effect. Except as otherwise provided in this Agreement to the contrary, this Agreement shall be binding upon and inure to the benefit of the Members, their distributees, heirs, legal
representatives, executors, administrators, successors and permitted assigns. 
 Section 13.09 Waivers. No waiver of any breach
of any of the terms of this Agreement shall be effective unless such waiver is made expressly in writing and executed and delivered by the party against whom such waiver is claimed. No waiver of any breach shall be deemed to be a further or
continuing waiver of such breach or a waiver of any other or subsequent breach. Except as otherwise expressly provided herein, no failure on the part of any party to exercise, and no delay in exercising, any right, power or remedy hereunder, or
otherwise available in respect hereof at law or in equity, shall operate as a waiver thereof, nor shall any single or partial exercise of such right, power or remedy by such party preclude any other or further exercise thereof, or the exercise of
any other right, power or remedy 
 Section 13.10 Conflicts of Interest. Subject to the other express provisions of this
Agreement or except as otherwise expressly agreed in writing, each Member and officer of the Company at any time and from time to time may engage in and possess interests in other business ventures of any and every type and description,
independently or with others, including ones in competition with the Company, with no obligation to offer to the Company or any other Member or officer the right to participate therein. Other than transactions contemplated by this Agreement, the
Management and Monitoring Agreement, the Stockholders Agreement or any financing arrangements related to the Company’s investments in CAC, neither CAC (nor any of its Affiliates) shall enter into any transaction with the Managing Member (or any
of its Affiliates) unless the terms of such transaction are no less favorable to CAC or its Affiliates, as the case may be, than could be obtained from a third party at arm’s length. 
 Section 13.11 Third Parties. Except as provided in Article X, this Agreement does not create any rights, claims or benefits inuring to any
Person that is not a party hereto, and it does not create or establish any third party beneficiary hereto. 
  

 42 

 Section 13.12 Counterparts. This Agreement may be executed in multiple counterparts, each of
which shall be deemed to be an original and shall be binding upon the Member who executed the same, but all of such counterparts shall constitute the same Agreement. 
 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 
  

 43 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the day and year first above
written. 
  

			
	THE COMPANY
	
	TRIMARAN POLLO PARTNERS, L.L.C.
		
	By:	 	 TRIMARAN CAPITAL, L.L.C., as
 Managing
Member

		
		 	 By: Trimaran Fund Management,
 L.L.C., its investment
manager

		
	By:	 	 /s/    STEVEN A. FLYER

	Name:	 	Steven A. Flyer
	Title:	 	Managing Director
	
	MANAGING MEMBER
		
		 	TRIMARAN CAPITAL, L.L.C.
		
		 	 By: Trimaran Fund Management,
 L.L.C., its investment
manager

		
	By:	 	 /s/    STEVEN A. FLYER

	Name:	 	Steven A. Flyer
	Title:	 	Managing Director
	
	OTHER MEMBERS
	
	TRIMARAN FUND II, L.L.C.
		
		 	 By: Trimaran Fund Management,
 L.L.C., its investment
manager

		
	By:	 	 /s/    STEVEN A. FLYER

	Name:	 	Steven A. Flyer
	Title:	 	Managing Director

			
	TRIMARAN PARALLEL FUND II, L.P.
		
		 	 By: Trimaran Fund Management,
 L.L.C., its investment
manager

		
	By:	 	 /s/    STEVEN A. FLYER

	Name:	 	Steven A. Flyer
	Title:	 	Managing Director
	
	CIBC EMPLOYEE PRIVATE EQUITY FUND (TRIMARAN) PARTNERS
		
		 	 By: Trimaran Fund Management,
 L.L.C., its investment
manager

		
	By:	 	 /s/    STEVEN A. FLYER

	Name:	 	Steven A. Flyer
	Title:	 	Managing Director
	
	CIBC CAPITAL CORPORATION
		
		 	 By: Trimaran Fund Management,
 L.L.C., its investment
manager

		
	By:	 	 /s/    STEVEN A. FLYER

	Name:	 	Steven A. Flyer
	Title:	 	Managing Director

			
	 ASP EPL L.L.C.

		
	 By:
	 	 /s/    ERIC SCHONDORF

	Name:	 	Eric Schondorf
	 Title:
	 	

			
	 CONTINENTAL CASUALTY COMPANY

		
	 By:
	 	 /S/    MARILOU R.
MCGIRR
  

	 Name:
	 	Marilou R. McGirr
	 Title:
	 	Vice President and Assistant Treasurer

			
	MULTI-STRATEGY HOLDINGS, L.P.
	
	 By: Multi-Strategy Holdings Offshore
 Advisors, Inc., its General Partner

		
	By:	 	 /S/    JENNIFER BARBETTA
  

	Name:	 	Jennifer Barbetta
	Title:	 	Authorized Signatory
	
	VF III HOLDINGS, L.P.
	
	 By: VF III Holdings Offshore Advisors, Inc.,
 its General Partner

		
	By:	 	 /S/    JENNIFER BARBETTA
  

	Name:	 	Jennifer Barbetta
	Title:	 	Authorized Signatory

			
	ZG INVESTMENTS III LTD.
		
	By:	 	 /S/    MICHAEL DEEVY
  

	Name:	 	Michael Deevy
	Title:	 	Vice President
		
	By:	 	 /S/    MICHAEL GUTTERIDGE
  

	Name:	 	Michael Gutteridge
	Title:	 	Assistant Controller

			
	 BRODY 2005 LLC

		
	 By:
	 	 /s/    HOWARD KAYE
  

	 Name:
	 	Howard Kaye
	 Title:
	 	Managing Member

			
	FEA III L.P.
		
	 By:
	 	 Feinstein Eisenberg Associates LLC
 Managing
Partner

		
	 By:
	 	 /s/    WARREN EISENBERG
  

	Name:	 	Warren Eisenberg
	Title:	 	Managing Partner

			
	 EPL CORPORATION

		
	 By:
	 	 /s/    MICHAEL SCHARF
  

	 Name:
	 	Michael Scharf
	 Title:
	 	

 SCHEDULE A 
 NAMES AND ADDRESSES OF MEMBERS 
  

			
	 Name
	  	 Address

	ASP EPL L.L.C.	  	 c/o American Securities Capital Partners, L.P.
 666
Third Avenue, 29th Floor
 New York, New York 10017
 Attention: Glenn Kaufman
 Telephone: 212-476-8000
 Fax: 212-697-5524

		
	Continental Casualty Company	  	 Mike Hass
 CNA
 333 South Wabash Avenue, 23 South
 Chicago, Illinois 60604
 Attention: Michael Hass
 Telephone: 312-822-6592

		
	Multi-Strategy Holdings, L.P.	  	 Multi-Strategy Holdings, L.P.
 32 Old Slip,
37th Floor
 New York,
New York 10005
 Attn: Kane Brennan
 Telephone:
212-855-9851
 Fax: 212-493-0187

		
	VF III Holdings, L.P.	  	 VF III Holdings, L.P.
 32 Old Slip, 37th Floor
 New York, New York
10005
 Attn: Kane Brennan
 Telephone: 212-855-9851
 Fax: 212-493-0187

		
	Trimaran Capital, L.L.C.	  	 c/o Trimaran Fund Management, L.L.C.
 622 3rd Avenue, 35th Floor
 New York, New York 10017
 Attention: Steven A. Flyer
 Telephone: 212-885-4735
 Fax: 212-885-4350

		
	Trimaran Fund II, L.L.C.	  	 c/o Trimaran Fund Management, L.L.C.
 622 3rd Avenue, 35th Floor
 New York, New York 10017
 Attention: Steven A. Flyer
 Telephone: 212-885-4735
 Fax: 212-885-4350

  

 Schedule-A-1 

			
	Trimaran Parallel Fund II, L.P.	 	 c/o Trimaran Fund Management, L.L.C.
 622
3rd Avenue, 35th Floor
 New York, New York 10017
 Attention: Steven A. Flyer
 Telephone: 212-885-4735
 Fax: 212-885-4350

		
	 CIBC Employee Private Equity Fund
 (Trimaran)
Partners
	 	 c/o Trimaran Fund Management, L.L.C.
 622 3rd Avenue, 35th Floor
 New York, New York 10017
 Attention: Steven A. Flyer
 Telephone: 212-885-4735
 Fax: 212-885-4350

		
	CIBC Capital Corporation	 	 c/o Trimaran Fund Management, L.L.C.
 622 3rd Avenue, 35th Floor
 New York, New York 10017
 Attention: Steven A. Flyer
 Telephone: 212-885-4735
 Fax: 212-885-4350

		
	Brody 2005 LLC	 	 c/o Hub International
 1065 Avenue of the
Americas
 New York, New York 10018
 Attention: Howard
Kaye
 Telephone: 212-338-2263
 Fax:
212-354-0894

		
	FEA III L.P.	 	 c/o Rockdale Capital
 650 Liberty Avenue
 Union, NJ 07083
 Attention: Linda Kao
 Telephone: 908-688-4815

		
	EPL Corporation	 	 c/o Niagara Corporation
 667 Madison Avenue
 11th Floor
 New York, New York 10021
 Attention: Michael Scharf
 Telephone: 212-317-1000
 Fax: 212-317-1001

  

 Schedule-A-2 

			
	ZG Investments III Ltd.	 	 Courier Address
 Wellesley House,
 90 Pitt’s Bay Road,
 Pembroke HM 08,
 BERMUDA
  
 Mailing Address
 P.O. Box HM 2268,
 Hamilton HM
JX,
 BERMUDA
  
 Telephone: 1-441-294-2400
 Fax: 1-441-294-2401
 Attention: Mike Deevy
  
 With a copy to:
  
 Centre Group Holdings (US) Limited
 105 East 17th Street
 New York, NY 10003
 Attention: General Counsel
 Tel: 212-859-2714
 Fax:
212-859-2790

  

 Schedule-A-3 

 SCHEDULE B 
 [CAPITAL CONTRIBUTIONS AND 
 MEMBERSHIP UNITS] 
  

 Schedule-B 

 SCHEDULE C 
 INVESTOR MEMBERS 
  

			
	 Name
	 	 Address

		
	 ASP EPL L.L.C.
	 	 c/o American Securities Capital Partners, L.P.
 666 Third Avenue, 29th Floor
 New York, New York 10017
 Attention: Glenn Kaufman
 Telephone: 212-476-8000
 Fax: 212-697-5524

		
	 Continental Casualty Company
	 	 Mike Hass
 CNA
 333 South Wabash Avenue, 23 South
 Chicago, Illinois 60604
 Attention: Michael Hass
 Telephone: 312-822-6592

		
	 Multi-Strategy Holdings, L.P.
	 	 Multi-Strategy Holdings, L.P.
 32 Old Slip, 37th Floor
 New York, New York 10005
 Attn: Kane Brennan
 Telephone: 212-855-9851
 Fax: 212-493-0187

		
	 VF III Holdings, L.P.
	 	 VF III Holdings, L.P.
 32 Old Slip, 37th Floor
 New York, New York 10005
 Attn: Kane Brennan
 Telephone: 212-855-9851
 Fax: 212-493-0187

		
	 Brody 2005 LLC
	 	 c/o Hub International
 1065 Avenue of the Americas
 New York, New York 10018
 Attention: Howard Kaye
 Telephone: 212-338-2263
 Fax: 212-354-0894

		
	 FEA III L.P.
	 	 c/o Rockdale Capital
 650 Liberty Avenue
 Union, NJ 07083
 Attention: Linda Kao
 Telephone: 908-688-4815

  

 Schedule-C 

			
	EPL Corporation	 	 c/o Niagara Corporation
 667 Madison Avenue

11th Floor
 New York, New York 10021
 Attention: Michael Scharf
 Telephone: 212-317-1000
 Fax: 212-317-1001

		
	ZG Investments III Ltd.	 	 Courier Address
 Wellesley House,
 90 Pitt’s Bay Road,
 Pembroke HM 08,
 BERMUDA
  
 Mailing Address
 P.O. Box HM 2268,
 Hamilton HM
JX,
 BERMUDA
  
 Telephone: 1-441-294-2400
 Fax: 1-441-294-2401
 Attention: Mike Deevy
  
 With a copy to:
  
 Centre Group Holdings (US) Limited
 105 East 17th Street
 New York, NY 10003
 Attention: General Counsel
 Tel: 212-859-2714
 Fax:
212-859-2790

  

 Schedule-C 

 SCHEDULE D 
 MATERIAL SUBSIDIARIES 
 El Pollo Loco, Inc. 

 Schedule-D

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