Document:

REGISTRATION RIGHTS AGREEMENT

         This Registration Rights Agreement (the "Agreement") is entered into as
of _____________, 2000, by and between PLANET HOLLYWOOD INTERNATIONAL, INC., a
corporation organized under the laws of the State of Delaware (the "Company"),
the parties listed on Annex A hereto (the "New Money Holders") and the parties
listed on Annex B hereto (the "Note Holders").

         WHEREAS, this Agreement is being entered into pursuant to (i) Section
6.6(c) of the First Amended Joint Plan of Reorganization of the Company under
Chapter 11 of the Bankruptcy Code dated December 13, 1999, as the same may have
been amended or supplemented from time to time prior to the date hereof and has
been approved by the United States Bankruptcy Court for the District of Delaware
(the "Plan of Reorganization") and (ii) the Note Purchase Agreement dated on or
about the date of this Agreement among the Company, the Note Holders and
Wilmington Trust Company (the "Note Purchase Agreement") which itself is entered
into pursuant to the BayHarbour Agreement (as defined in the Plan of
Reorganization). The Plan of Reorganization provides for the issuance of New
Common Stock, New Warrants, New Secured PIK Notes and New Senior Secured Notes
(each as hereinafter defined), including, without limitation, the issuance of
(i) 350,000 shares of New Class A Common Stock pro rata among the Note Holders
as part of a fee payable to the Note Holders, (ii) certain of the New Warrants
relating to the purchase of 200,000 shares of New Class A Common Stock by the
Note Holders in accordance with the terms of the Note Purchase Agreement and
(iii) the shares of New Class A Common Stock issuable upon conversion of the
obligations of the Company outstanding under the Note Purchase Agreement in
accordance with Section 3.8 of the Note Purchase Agreement.

         WHEREAS, the parties hereto desire to provide certain registration
rights to the New Money Holders and the Note Holders with respect to the
Registerable Securities (as hereinafter defined).

         NOW, THEREFORE, in consideration of the mutual promises, covenants and
agreements hereinafter set forth, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

                  1. RECITALS. The parties hereby agree that the aforementioned
recitals are true and correct and, together with the definitions set forth
therein and in the preamble to this Agreement, are hereby incorporated into this
Agreement by this reference.

                  2. DEFINITIONS. As used herein, unless the context otherwise
requires, the following terms have the following respective meanings:

         "Blackout Period" shall mean a period, during the Shelf Registration
Period, commencing on the date on which the Company provides notice that: (i)
the effectiveness of the Shelf Registration (as herein defined) has been
suspended; (ii) the then current prospectus with respect to the offer and sale
of the Registerable Securities no longer complies with the requirements therefor
prescribed by Section 10(a) of the Securities Act; or (iii) subject to Section
3.1(b), there is a Material Disclosure Event and the Board of Directors of the
Company has elected (in its good faith reasonable judgment) to require the
suspension of the sale of Registerable Securities pursuant to the Shelf
Registration, and ending on the date when the Holders either receive copies of
the

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supplemented or amended prospectus contemplated by Section 3.3(g) or such
earlier time that the Holders are otherwise advised in writing by the Company
that use of the prospectus may be resumed.

         "Commission" means the Securities and Exchange Commission or any other
Federal agency at the time administering the Securities Act.

         "Exchange Act" means the Securities Exchange Act of 1934, as amended,
or any similar Federal statute, and the rules and regulations of the Commission
thereunder, all as the same shall be in effect at the time. Reference to a
particular section of the Exchange Act shall include a reference to the
comparable section, if any, of any such similar Federal statute.

         "Holder" means a registered holder of Registerable Securities.

         "Material Disclosure Event" means any pending or imminent event
relating to the Company which, based on the good faith, reasonable opinion of
the Board of Directors of the Company and the advice of competent outside
counsel to the Board of Directors of the Company, (i) requires disclosure of
material, non-public information relating to such event in the Shelf
Registration Statement so that such registration statement would not be
materially misleading, (ii) is otherwise not required to be publicly disclosed
at the time (e.g., on a Form 8-K or Form 10- Q) under applicable federal or
state securities laws, and (iii) if publicly disclosed at the time of such
event, would have a material adverse effect on the business and/or financial
condition of the Company.

         "New Class A Common Stock" means the Class A shares of common stock,
par value $.01 per share, of the Company authorized to be issued under the
Company's Amended and Restated Certificate of Incorporation.

         "New Class B Common Stock" means the Class B shares of common stock,
par value $.01 per share, of the Company authorized to be issued under the
Company's Amended and Restated Certificate of Incorporation.

         "New Common Stock" means, collectively, the New Class A Common Stock,
the New Class B Common Stock, and any other common stock of the Company
authorized to be issued under the Company's Amended and Restated Certificate of
Incorporation, including any and all securities of the Company which may be
issued on or after the date hereof in respect of, or in exchange for, shares of
New Common Stock pursuant to a merger, consolidation, stock split, conversion,
stock dividend, recapitalization of the Company or otherwise.

         "New Money Holders" has the meaning assigned to it in the preamble
hereof and includes permitted transferees of such New Money Holders.

         "New Secured PIK Notes" means the 10% secured Deferrable Interest Notes
due 2005 to be issued by the Company pursuant to the Plan of Reorganization
under the New Secured PIK Notes Indenture dated on or about the date of this
Agreement among the Company, the subsidiary guarantors named therein and United
States Trust Company of New York, as Trustee, such Indenture being substantially
in the form filed as Exhibit 7 to the Plan of Reorganization.

         "New Warrants" means (i) the warrants issued pursuant to the Plan of
Reorganization under the New Warrant Agreement between the Company and the New
Warrant Agent, such Warrant Agreement being substantially in the form filed as
Exhibit 10 to the Plan of Reorganization, and (ii)

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the warrants for the purchase of 200,000 shares of New Class A Common Stock
issued to the Note Holders pursuant to the Note Purchase Agreement in the form
of Exhibit D to the Note Purchase Agreement.

         "Note Holders" has the meaning assigned to it in the preamble hereof
and includes permitted transferees of such Note Holders.

         "Person" means a corporation, an association, a partnership, an
organization, a business, a trust, an individual, or any other entity or
organization, including a government or political subdivision or an
instrumentality or agency thereof.

         "Registerable Securities" means (i) the shares of New Class A Common
Stock issuable upon conversion of the New Class B Common Stock issued by the
Company to the New Money Holders pursuant to the Plan of Reorganization; (ii)
the shares of New Class A Common Stock issued or issuable to the Note Holders
pursuant to the Note Purchase Agreement; (iii) the shares of New Class A Common
Stock issuable to the Note Holders upon conversion of the obligations of the
Company and its affiliates outstanding under the Note Purchase Agreement in
accordance with Section 3.8 of the Note Purchase Agreement; (iv) any securities
issued with respect to (or issuable upon the conversion, exercise or exchange of
any option, warrant, right or other security which is issued with respect to)
the securities referred to in clauses (i), (ii), (iii) or (iv) hereof by way of
a stock dividend or distribution, stock split, conversion or reverse stock split
or in connection with a combination of shares, recapitalization, merger,
consolidation or otherwise, in each case held at any time during the Shelf
Registration Period by the Holders; (v) the shares of New Class A Common Stock
issuable upon exercise of the New Warrants issued by the Company to a New Money
Holder or a Note Holder pursuant to the Plan of Reorganization and/or the Note
Purchase Agreement; or (vi) the New Secured PIK Notes issued by the Company to a
New Money Holder pursuant to the Plan of Reorganization. As to any particular
Registerable Securities, such securities shall cease to be Registerable
Securities when (i) a registration statement with respect to the sale of such
securities shall have become effective under the Securities Act and such
securities shall have been disposed of in accordance with such registration
statement, (ii) they shall have been distributed to the public pursuant to Rule
144 (or any successor or similar provision) under the Securities Act, (iii) they
shall have been otherwise transferred, with new certificates for them not
bearing a legend restricting further transfer having been delivered by the
Company and subsequent disposition of them shall not require registration under
the Securities Act, or (iv) they shall have ceased to be outstanding.

         "Registration Expenses" means all expenses incident to the registration
and disposition of the Registerable Securities pursuant to Section 3 hereof,
including, without limitation, all registration, filing and applicable national
securities exchange fees; all fees and expenses of complying with state
securities or "blue sky" laws (including fees and disbursements of counsel to
the underwriters or the Holders in connection with blue sky qualification of the
Registerable Securities and determination of their eligibility for investment
under the laws of the various jurisdictions); all duplicating and printing
expenses; all messenger and delivery expenses; the fees and disbursements of
counsel for the Company and of its independent public accountants, including the
expenses of "cold comfort" letters or, in connection with a registration
pursuant to Section 3.2 hereof only, any special audits required by, or incident
to, such registration; all fees and disbursements of underwriters; all transfer
taxes; and the reasonable fees and expenses of one counsel to the New Money
Holders and one counsel to the Note Holders; provided, however, that
Registration Expenses shall exclude, and (i) in the case of an underwritten
offering, the Holders shall pay all

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underwriting discounts and underwriting commissions in respect of the
Registerable Securities being registered on a pro rata basis in accordance with
the number of Registerable Securities that such Holder included and sold in such
offering, and (ii) in the case of an offering not underwritten, each Holder
shall be responsible for the payment of any fees or commissions charged by such
Holder's broker.

         "Securities Act" means the Securities Act of 1933, as amended, or any
similar Federal statute, and the rules and regulations of the Commission
thereunder, all as the same shall be in effect at the time. References to a
particular section of the Securities Act shall include a reference to the
comparable section, if any, of any such similar Federal statute.

         "Shelf Registration Period" means as to each Holder, as applicable,
that period of time beginning on the effective date of the Shelf Registration
and ending:

                  (a) in the case of the Registerable Securities referred to in
clauses (i), (ii), (v) and (vi) of the definition of "Registerable Securities"
(and any securities issued with respect thereto pursuant to clause (iv) of such
definition), the first day on which such Registerable Securities are eligible
for resale by the Holder thereof pursuant to the provisions of paragraph (k) of
Rule 144 promulgated under the Securities Act (or any successor provision), and

                  (b) in the case of the Registerable Securities referred to in
clause (iii) of the definition of "Registerable Securities" (and any securities
issued with respect thereto pursuant to clause (iv) of such definition), on the
later to occur of: (i) the last day that loans can be borrowed under the Note
Purchase Agreement, if no loans are borrowed thereunder; (ii) the last day on
which any obligations under the Note Purchase Agreement are convertible into
Registerable Securities; and (iii) the earlier to occur of (x) one year
following the last day on which shares of New Class A Common Stock are issued
upon a conversion of obligations under the Note Purchase Agreement, or (y) the
first day on which such Registerable Securities are eligible for resale by the
Holder thereof pursuant to the provisions of paragraph (k) of Rule 144
promulgated under the Securities Act (or any successor provision).

                  3. SHELF REGISTRATION; INCIDENTAL REGISTRATION.

                  3.1 Shelf Registration.

                           (a) Within ninety (90) days of the "Effective Date"
of the Plan of Reorganization (as that term is defined in the Plan of
Reorganization),or such longer time as may be required to prepare the necessary
financial statements (but in no event more than one hundred eighty (180) days
after the Effective Date of the Plan of Reorganization), the Company will file
with the Commission, at the Company's expense, a "shelf" registration statement
(or statements) on an appropriate form pursuant to Rule 415 under the Securities
Act covering all Registerable Securities (the "Shelf Registration"). The Company
shall use its best efforts to have the Shelf Registration declared effective as
promptly as practicable after such filing and to keep the Shelf Registration
continuously effective for the Shelf Registration Period. The Company shall, to
the extent necessary, supplement or amend the Shelf Registration (in each case,
at the Company's expense) to keep the Shelf Registration effective during the
Shelf Registration Period. The Company further agrees to supplement or amend any
Shelf Registration, as required by the registration form utilized by the
Company, by the instructions applicable to such registration form or by the
Securities Act or the rules and regulations thereunder or as reasonably
requested by any Holder. The Company shall

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furnish to the Holders copies, in substantially the form proposed to be used
and/or filed, of any such supplement or amendment at least fifteen (15) days
prior to its being used and/or filed with the Commission. The Company hereby
consents to the use (in compliance with applicable law) of the prospectus or any
amendment or supplement thereto by each of the selling Holders of Registerable
Securities in connection with the offering and sale of the Registerable
Securities covered by the prospectus or any amendment or supplement thereto. The
Company shall pay all Registration Expenses incurred in connection with the
Shelf Registration, whether or not it becomes effective. In no event shall the
Shelf Registration include securities other than Registerable Securities, unless
the Holders of all Registerable Securities consent to such inclusion.

                  (b) Each Holder agrees that it will not sell any Registerable
Securities pursuant to the Shelf Registration during any Blackout Period. The
Company agrees to use its best efforts (i) to ensure that there is not more than
one Blackout Period in any 12-month period, (ii) to cause each Blackout Period
to end as soon as reasonably practicable and (iii) to ensure that no Blackout
Period exceeds thirty (30) consecutive days. The Company further agrees that no
other holder of any shares of the Company's capital stock will be permitted to
sell any such shares of the Company's capital stock pursuant to a registration
statement during a Blackout Period. If one or more Blackout Periods occur, the
Shelf Registration Period shall be extended by such number of days coincident
with the aggregate number of days included in all Blackout Periods. Subject to
compliance with applicable laws, the Company shall use its best efforts to
provide the Holders with reasonable notice of an anticipated Blackout Period
prior to that Blackout Period commencing.

                  3.2 Incidental Registration.

                           (a) Right to Include Registerable Securities. If the
Company at any time prior to the expiration of the Shelf Registration Period
proposes to register, in an underwritten public offering (or if the Shelf
Registration is not effective, any other non-underwritten public offering), any
of its securities for sale under the Securities Act (except registrations solely
for registration of securities in connection with an employee stock option,
stock purchase, stock bonus or similar plan, pursuant to a dividend reinvestment
plan, or pursuant to a merger, exchange offer or transaction of the type
specified in Rule 145(a) under the Securities Act), whether or not for sale for
its own account, it will each such time give written notice to the Holders of
its intention to do so and of the Holders' rights under this Section 3.2 at
least thirty (30) days prior to the filing of a registration statement in
connection therewith and the Holders shall be entitled to include, subject to
the provisions of this Agreement, Registerable Securities on the same terms and
conditions (if any) as apply to other comparable securities of the Company sold
in connection with such registration. Upon the written request of any Holder (a
"Requesting Holder"), specifying the maximum number of Registerable Securities
intended to be disposed of by such Requesting Holder (the "Piggyback
Securities"), made as promptly as practicable and in any event within fifteen
(15) days after the receipt of any such notice, the Company shall, subject to
the terms of this Agreement, effect the registration under the Securities Act of
the Piggyback Securities and shall use its best efforts to have such
registration become and remain effective under the Securities Act. The Company
will pay all Registration Expenses in connection with any registration of the
Piggyback Securities requested pursuant to this Section 3.2. If the registration
pursuant to this Section 3.2 is to cover, in whole or in part, any underwritten
distribution, the Company shall use its best efforts to cause all Piggyback
Securities to be included in the registration on the same terms and conditions
as the comparable securities (other than the Piggyback Securities) being sold
through the underwriters.

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                           (b) Right to Withdraw. Any Requesting Holder shall
have the right to withdraw its request for inclusion of Piggyback Securities in
any registration statement pursuant to this Section 3.2 at any time by giving
written notice to the Company of its request to withdraw.

                           (c) Priority in Incidental Registrations. If the
managing underwriter of any underwritten offering shall inform the Company by
letter of its opinion that the number or type of Registerable Securities when
added to the number and type of other securities to be offered in such
registration, would materially adversely affect such offering, then the Company
shall include in such registration that number and type of Registerable
Securities which the Company is so advised by the managing underwriter can be
sold in such offering without materially adversely affecting such offering (the
"Section 3.2 Registerable Securities Sale Amount") in the following order of
priority: (i) all of the securities proposed by the Company to be sold for its
own account (if any); (ii) thereafter, to the extent the Section 3.2
Registerable Securities Sale Amount is not exceeded in clause (i), the
Registerable Securities requested by the Requesting Holders to be included in
such registration pursuant to Section 3.2(a) pro rata among the Requesting
Holders on the basis of the percentage of Registerable Securities of such
Requesting Holders requested to be included in such registration; and (iii)
thereafter, to the extent the Section 3.2 Registerable Securities Sale Amount is
not exceeded, any other securities of the Company requested to be included in
such registration.

                           (d) Plan of Distribution. In an underwritten public
offering, any participation by the Holders in a registration by the Company
pursuant to this Section 3.2 shall be in accordance with the terms and
conditions of the Company's plan of distribution.

                  3.3 Registration Procedures.

                  If and whenever the Company is required to effect
registration, or to use its best efforts to effect the registration, of any
Registerable Securities, as provided in Sections 3.1 and 3.2 hereof, the Company
shall as expeditiously as possible:

                           (a) prepare and file with the Commission the
requisite registration statement to effect such registration, including all
amendments and supplements thereto (and shall include all financial statements
required by the Commission to be filed therewith) and thereafter use its best
efforts to cause such registration statement to become effective; provided,
however, that before filing such registration statement (including all exhibits)
or any amendment or supplement thereto or comparable statements under securities
or blue sky laws of any jurisdiction, the Company shall furnish such documents
to each Holder selling Registerable Securities covered by such registration
statement and each underwriter, if any, participating in the offering of the
Registerable Securities and their respective counsel, which documents will be
subject to the review and comments of each such Holder, each underwriter and
their respective counsel; and provided further, that the Company may discontinue
any registration of its securities which are not Registerable Securities and, as
to registration pursuant to Section 3.2 hereof, the Company may discontinue any
registration of securities covered thereby, in each case, at any time prior to
the effective date of the registration statement relating thereto;

                           (b) notify each Holder selling Registerable
Securities covered by such registration statement of the Commission's requests
for amending or supplementing the registration statement and the prospectus, and
prepare and file with the Commission such amendments and supplements to such
registration statement and the prospectus used in connection therewith as may be
necessary to keep such registration statement effective and to comply with the
provisions of the

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Securities Act with respect to the disposition of all Registerable Securities
covered by such registration statement in each case for such period as shall be
required for the disposition of all of such Registerable Securities in
accordance with the intended method of distribution thereof; provided that such
period need not extend beyond the Shelf Registration Period;

                           (c) furnish, without charge, to each Holder selling
Registerable Securities covered by such registration statement and each
underwriter such number of conformed copies of such registration statement and
of each such amendment and supplement thereto (in each case including all
exhibits), such number of copies of the prospectus contained in such
registration statement (including each preliminary prospectus and any summary
prospectus) and any other prospectus filed under Rule 424 under the Securities
Act, in conformity with the requirements of the Securities Act, and such other
documents, as any Holder and such underwriters may reasonably request;

                           (d) use its best efforts (i) to register or qualify
all Registerable Securities and other securities covered by such registration
statement under such securities or blue sky laws of such States of the United
States of America where an exemption is not available and as any Holder or
Holders selling Registerable Securities covered by such registration statement
or any managing underwriter shall reasonably request, (ii) to keep such
registration or qualification in effect for so long as such registration
statement remains in effect, and (iii) to take any other action which may be
reasonably necessary or advisable to enable the Holders to consummate the
disposition in such jurisdictions of the securities to be sold by such Holder or
Holders; provided, however, that the Company shall not for any purpose be
required to execute a general consent to service of process, or to qualify to do
business as a foreign corporation, in any jurisdiction where it is not so
qualified;

                           (e) use its best efforts to cause all Registerable
Securities covered by such registration statement to be registered with or
approved by such other Federal or state governmental agencies or authorities as
may be necessary in the opinion of counsel to the Company and counsel to any
Holder or Holders selling Registerable Securities covered by such registration
statement to consummate the disposition of such Registerable Securities;

                           (f) furnish to each Holder selling Registerable
Securities covered by such registration statement and each underwriter, if any,
participating in the offering of the securities covered by such registration
statement, a signed counterpart of (i) an opinion of counsel for the Company,
and (ii) a "comfort" letter signed by the independent public accountants who
have certified the Company's financial statements included or incorporated by
reference in such registration statement, covering substantially the same
matters with respect to such registration statement (and the prospectus included
therein) and, in the case of the accountants' comfort letter, with respect to
events subsequent to the date of such financial statements, as are customarily
covered (at the time of such registration) in opinions of issuer's counsel and
in accountants' comfort letters delivered to the underwriters in underwritten
public offerings of securities (and dated the dates such opinions and comfort
letters are customarily dated) and, in the case of the legal opinion, such other
legal matters, and, in the case of the accountants' comfort letter, such other
financial matters, as such Holder or Holders, or the underwriters, may
reasonably request;

                           (g) immediately notify the Holders selling
Registerable Securities covered by such registration statement and each managing
underwriter, if any, participating in the offering of the securities covered by
such registration statement (i) when such registration statement, any
pre-effective amendment, the prospectus or any prospectus supplement related
thereto or

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post-effective amendment to such registration statement has been filed, and,
with respect to such registration statement or any post-effective amendment,
when the same has become effective; (ii) of any request by the Commission for
amendments or supplements to such registration statement or the prospectus
related thereto or for additional information; (iii) of the issuance by the
Commission of any stop order suspending the effectiveness of such registration
statement or the initiation or threatening of any proceedings for that purpose;
(iv) of the receipt by the Company of any notification with respect to the
suspension of the qualification of any of the Registerable Securities for sale
under the securities or blue sky laws of any jurisdiction or the initiation or
threatening of any proceeding for such purpose; and (v) at any time when a
prospectus relating thereto is required to be delivered under the Securities Act
or, in the case of the Shelf Registration, at any time during the Shelf
Registration Period, upon discovery that, or upon the happening of any event as
a result of which, the registration statement or the prospectus included in such
registration statement, as then in effect, includes an untrue statement of a
material fact or omits to state any material fact required to be stated therein
or necessary to make the statements therein not misleading, in the light of the
circumstances under which they were made, and in the case of this clause (v), at
the request of any Holder or Holders selling Registerable Securities covered by
such registration statement promptly prepare and furnish to such Holder or
Holders and each managing underwriter, if any, participating in the offering of
the Registerable Securities, a reasonable number of copies of a supplement to or
an amendment of such registration statement or prospectus as may be necessary so
that, as thereafter delivered to the purchasers of such securities, such
prospectus shall not include an untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary to make the
statements therein not misleading in the light of the circumstances under which
they were made;

                           (h) otherwise comply with all applicable rules and
regulations of the Commission, and make available to its security holders, as
soon as reasonably practicable, an earnings statement covering the period of at
least twelve months beginning with the first full calendar month after the
effective date of such registration statement, which earnings statement shall
satisfy the provisions of Section 11(a) of the Securities Act and Rule 158
promulgated thereunder, and promptly furnish to the Holders a copy of any
amendment or supplement to such registration statement or prospectus;

                           (i) cause to be maintained a transfer agent and
registrar (which, in each case, may be the Company) for the Registerable
Securities from and after the date of such registration;

                           (j) use all reasonable efforts to cause all
Registerable Securities covered by such registration statement to be quoted on
the National Market System ("National Market System") of the National
Association of Securities Dealers, Inc. Automated Quotation System ("NASDAQ")
within the meaning of Rule 11Aa2-1 of the Commission if the quoting of such
Registerable Securities is then permitted under NASDAQ rules; or if no similar
securities of the Company are then so quoted, use all reasonable efforts to (x)
secure designation of all such Registerable Securities as a NASDAQ National
Market System security or (y) failing that, cause all such Registerable
Securities to be listed on a national securities exchange or (z) failing that,
to secure NASDAQ authorization for such Registerable Securities and, without
limiting the generality of the foregoing, to arrange for at least two market
makers to register as such with respect to such Registerable Securities with the
National Association of Securities Dealers, Inc.;

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                           (k) deliver promptly to counsel to the Holders
selling Registerable Securities covered by such registration statement and each
underwriter, if any, participating in the offering of the Registerable
Securities, upon request, copies of all correspondence between the Commission
and the Company, its counsel or auditors and all memoranda relating to
discussions with the Commission or its staff with respect to such registration
statement;

                           (l) use its best efforts to obtain the withdrawal of
any order suspending the effectiveness of the registration statement;

                           (m) make available its employees and personnel and
otherwise provide reasonable assistance to the underwriters (taking into account
the needs of the Company's businesses) in their marketing of Registerable
Securities;

                           (n) in the case of a Shelf Registration, upon the
occurrence of any event or the discovery of any facts, each as contemplated by
Section 3.3(g)(v) hereof, use its best efforts to prepare a supplement or
post-effective amendment to the registration statement or the related prospectus
or any document incorporated therein by reference or file any other required
documents so that, thereafter, such prospectus will not contain at the time of
such delivery any untrue statement of a material fact or omit to state a
material fact necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading; and

                           (o) enter into customary agreements (including an
underwriting agreement in customary form) and take all such other action, if
any, as the Holders participating in such offering or the underwriters shall
reasonably request in order to expedite or facilitate the disposition of the
Registerable Securities pursuant to this Agreement.

The Company may require the Holders selling Registerable Securities covered by
such registration statement to furnish the Company such information regarding
the Holders and the distribution of the Registerable Securities as the Company
may from time to time reasonably request in writing. In the event of a
registration effected pursuant to Section 3.1 or 3.2 hereof, if a Holder fails
to provide such information and the failure by such Holder to furnish such
information would prevent or unreasonably delay the registration statement
relating to such registration from being declared effective by the Commission,
the Company may exclude such Holder's Registerable Securities from such
registration, which right of the Company shall, in the case of a registration
effected pursuant to Section 3.1 hereof, be subject (i) in the case of a New
Money Holder, to the consent of the New Money Holders of not less than a
majority of the Registerable Securities to be included in such registration by
the New Money Holders (other than such New Money Holder's Registerable
Securities), and (ii) in the case of a Note Holder, to the consent of the Note
Holders who hold a majority of the Registerable Securities to be included in
such registration by the Note Holders (other than such Note Holder's
Registerable Securities).

         The Holders agree that upon receipt of any notice from the Company of
the happening of any event of the kind described in paragraph (g)(iii) or (v) of
this Section 3.3, each of the Holders will discontinue its disposition of
Registerable Securities pursuant to the registration statement relating to such
Registerable Securities until, in the case of paragraph (g)(iii) of this Section
3.3, its receipt of notice that the stop order has been lifted or the
proceedings have been dropped or, in the case of paragraph (g)(v) of this
Section 3.3, its receipt of the copies of the supplemented or amended prospectus
contemplated by paragraph (g)(v) of this Section 3.3 and, if so directed by the
Company, will deliver to the Company (at the Company's expense) all copies,
other than permanent

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file copies, then in its possession, of the prospectus relating to such
Registerable Securities current at the time of receipt of any such notice. If
the disposition by the Holders of their securities is discontinued pursuant to
the immediately preceding sentence, the Company shall extend the period of
effectiveness of the registration statement by the number of days during the
period from and including the date of the giving of notice to the Holders and
including the date when the Holders shall have received notice that the stop
order has been lifted or the proceedings have been dropped, or copies of the
supplemented or amended prospectus contemplated by paragraph (g)(v) of this
Section 3.3, as applicable.

                  3.4 Incidental Underwritten Offerings.

                  In the case of a registration pursuant to Section 3.2 hereof,
if the Company shall have determined to enter into any underwriting agreements
in connection therewith, all of the Requesting Holders' Registerable Securities
to be included in such registration shall be subject to such underwriting
agreements. The Requesting Holders may, at their option, require that any or all
of the representations and warranties by, and the other agreements on the part
of, the Company to and for the benefit of such underwriters shall also be made
to and for the benefit of the Requesting Holders and that any or all of the
conditions precedent to the obligations of such underwriters under such
underwriting agreement be conditions precedent to the obligations of the
Requesting Holders. No Requesting Holder shall be required to make any
representations or warranties to or agreements with the Company or the
underwriters other than representations, warranties or agreements regarding such
Requesting Holder, its ownership of and title to the Registerable Securities,
and its intended method of distribution; and any liability of any Requesting
Holder to any underwriter or other Person under such underwriting agreement
shall be limited to liability arising from misstatements in or omissions from
its representations and warranties and shall be limited to an amount equal to
the net proceeds that it derives from such registration.

                  3.5 Preparation; Reasonable Investigation.

                  In connection with the preparation and filing of each
registration statement under the Securities Act pursuant to this Agreement, the
Company will give the participating Holders, their underwriters, if any, and
their respective counsel, accountants and other representatives and agents the
opportunity to participate in the preparation of such registration statement,
each prospectus included therein or filed with the Commission, and, to the
extent practicable, each amendment thereof or supplement thereto, and give each
of them such access to its books and records and such opportunities to discuss
the business of the Company with its officers and employees and the independent
public accountants who have certified its financial statements, and supply all
other information reasonably requested by each of them, as shall be necessary or
appropriate, in the opinion of the participating Holders' and such underwriters'
respective counsel, to conduct a reasonable investigation within the meaning of
the Securities Act.

                  3.6 Indemnification.

                           (a) Indemnification by the Company. The Company
agrees that in connection with the registration of securities of the Company
pursuant to this Agreement, the Company shall, and hereby does to the fullest
extent permitted by law, indemnify and hold harmless each Holder, its respective
directors, officers, partners, members, agents and affiliates and each other
Person who participates as an underwriter in the offering or sale of such
securities and each other Person, if any, who controls such Holder or any such
underwriter within the meaning of the Securities Act,

                                 Page 10 of 20
<PAGE>

against any losses, claims, damages, or liabilities, joint or several, to which
such Holder or any such director, officer, partner, member, agent or affiliate
or underwriter or controlling Person may become subject under the Securities Act
or otherwise, insofar as such losses, claims, damages or liabilities, joint or
several (or actions or proceedings, whether commenced or threatened, in respect
thereof), arise out of or are based upon (i) any untrue statement or alleged
untrue statement of any material fact contained in any registration statement
under which such securities were registered under the Securities Act, any
preliminary prospectus, final prospectus or summary prospectus contained
therein, or any amendment or supplement thereto (including, in each case, all
exhibits and documents incorporated by reference), (ii) any omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein in light of the circumstances in which
they were made not misleading, or (iii) any violation by the Company of any
Federal, state or common law rule or regulation applicable to the Company or
relating to action required of or inaction by the Company in connection with any
such registration, and the Company shall reimburse such Holder and each such
director, officer, partner, member, agent or affiliate, underwriter and
controlling Person for any legal or any other expenses reasonably incurred by
them in connection with investigating or defending any such loss, claim,
liability, action or proceeding; provided that the Company shall not be liable
in any such case to the extent that any such loss, claim, damage, liability (or
action or proceeding in respect thereof) or expense arises out of or is based
upon an untrue statement or alleged untrue statement or omission or alleged
omission made in such registration statement, any such preliminary prospectus,
final prospectus, summary prospectus, amendment or supplement (including, in
each case, all exhibits and documents incorporated by reference) in reliance
upon and in conformity with written information furnished to the Company through
an instrument duly executed by or on behalf of the Holders or underwriter, as
the case may be, specifically stating that it is for use in the preparation
thereof; and provided, further, that the Company shall not be liable to any
Person who participates as an underwriter in the offering or sale of
Registerable Securities or any other Person, if any, who controls such
underwriter within the meaning of the Securities Act, in any such case to the
extent that any such loss, claim, damage, liability (or action or proceeding in
respect thereof) or expense arises out of such Person's failure to send or give
a copy of the final prospectus, as the same may be then supplemented or amended,
to the Person asserting an untrue statement or alleged untrue statement or
omission or alleged omission at or prior to the written confirmation of the sale
of Registerable Securities to such Person if such statement or omission was
corrected in such final prospectus. Such indemnity shall remain in full force
regardless of any investigation made by or on behalf of either Holder or any
such director, officer, partner, agent or affiliate or controlling Person and
shall survive the transfer of such securities by such Holder.

                           (b) Indemnification by the Holders. As a condition to
including any Registerable Securities in any registration statement, each Holder
including any Registerable Securities in such registration statement agrees to
indemnify and hold harmless (in the same manner and to the same extent as set
forth in paragraph (a) of this Section 3.6) the Company, and each director and
officer of the Company and each other Person, if any, who controls the Company
within the meaning of the Securities Act, with respect to any statement or
alleged statement in or omission or alleged omission from such registration
statement, any preliminary prospectus, final prospectus or summary prospectus
contained therein, or any amendment or supplement thereto (including, in each
case, all exhibits and documents incorporated by reference), but only to the
extent such statement or alleged statement or omission or alleged omission was
made in reliance upon and in conformity with written information furnished to
the Company through an instrument duly executed by such Holder specifically
stating that it is for use in the preparation of such registration statement,
preliminary prospectus, final prospectus, summary prospectus, amendment or

                                 Page 11 of 20
<PAGE>

supplement (including, in each case, all exhibits and documents incorporated by
reference). In addition, as a condition to including any Registerable Securities
in any registration statement relating to an underwritten offering, each Holder
including any Registerable Securities in such registration statement agrees to
enter into an agreement to indemnify any Person who participates as an
underwriter in the offering and sale of such securities, and each other Person
who controls any such underwriter within the meaning of the Securities Act, on
reasonable and customary terms that are no more burdensome on such Holder than
the terms of indemnification by the Company or any other selling security
holders participating in such underwritten offering. Notwithstanding the
foregoing, and for the avoidance of doubt, (i) each Holder shall only be liable
under this Section 3.6(b) with respect to a statement or omission made by such
Holder and (ii) the liability of such indemnifying party under this Section
3.6(b) shall not exceed an amount equal to the net proceeds received by such
indemnifying party from the sale of the Registerable Securities sold by such
party in the offering giving rise to such liability. Such indemnity shall remain
in full force and effect, regardless of any investigation made by or on behalf
of the Company or any such director, officer or controlling Person and shall
survive the transfer of such securities by such Holder.

                           (c) Notices of Claims, etc. Promptly after receipt by
an indemnified party of notice of the commencement of any action or proceeding
involving a claim referred to in the preceding subsections of this Section 3.6,
such indemnified party shall, if a claim in respect thereof is to be made
against an indemnifying party, give written notice to the latter of the
commencement of such action or proceeding; provided, however, that the failure
of any indemnified party to give notice as provided herein shall not relieve the
indemnifying party of its obligations under the preceding subsections of this
Section 3.6, except to the extent that the indemnifying party is actually
prejudiced by such failure to give notice, and shall not relieve the
indemnifying party from any liability which it may have to the indemnified party
otherwise than under this Section 3.6. In case any such action or proceeding is
brought against an indemnified party, the indemnifying party shall be entitled
to participate therein and, unless in the opinion of outside counsel to the
indemnified party a conflict of interest between such indemnified and
indemnifying parties may exist in respect of such claim, to assume the defense
thereof, jointly with any other indemnifying party similarly notified to the
extent that it may wish, with counsel reasonably satisfactory to such
indemnified party; provided, however, that if the defendants in any such action
or proceeding include both the indemnified party and the indemnifying party and
if in the opinion of outside counsel to the indemnified party there may be legal
defenses available to such indemnified party and/or other indemnified parties
which are different from or in addition to those available to the indemnifying
party, the indemnified party or parties shall have the right to select separate
counsel to defend such action or proceeding on behalf of such indemnified party
or parties and the indemnifying party shall be obligated to pay the reasonable
fees and expenses of such separate counsel or counsels. After notice from the
indemnifying party to such indemnified party of its election so to assume the
defense thereof and approval by the indemnified party of such counsel, the
indemnifying party shall not be liable to such indemnified party for any legal
expenses subsequently incurred by the latter in connection with the defense
thereof other than reasonable costs of investigation (unless the proviso in the
preceding sentence shall be applicable). No indemnifying party shall be liable
for any settlement of any action or proceeding effected without its written
consent which shall not be unreasonably withheld. No indemnifying party shall,
without the consent of the indemnified party, consent to entry of any judgment
or enter into any settlement which does not include as an unconditional term
thereof the giving by the claimant or plaintiff to such indemnified party of a
release from all liability in respect to such claim or litigation.

                                 Page 12 of 20
<PAGE>

                           (d) Contribution. If the indemnification provided for
in this Section 3.6 is unavailable to an indemnified party under subsection (a)
or (b) hereof in respect of any loss, claim, damage or liability, or any action
in respect thereof, then, in lieu of the amount paid or payable under subsection
(a) or (b) hereof, the indemnified party and the indemnifying party under
subsection (a) or (b) hereof shall contribute to the aggregate losses, claims,
damages and liabilities (including legal or other expenses reasonably incurred
in connection with investigating the same), (i) in such proportion as is
appropriate to reflect the relative fault of the indemnifying party on the one
hand, and the indemnified party on the other, which resulted in such loss,
claim, damage or liability, or action in respect thereof, with respect to the
statements or omissions which resulted in such loss, claim, damage or liability,
or action in respect thereof, as well as any other relevant equitable
considerations, or (ii) if the allocation provided by clause (i) above is not
permitted by applicable law or if the allocation provided in this clause (ii)
provides a greater amount to the indemnified party than clause (i) above, in
such proportion as shall be appropriate to reflect not only the relative fault
but also the relative benefits received by the indemnifying party and the
indemnified party from the offering of the securities covered by such
registration statement as well as any other relevant equitable considerations.
The parties hereto agree that it would not be just and equitable if
contributions pursuant to this Section 3.6(d) were to be determined by pro rata
allocation or by any other method of allocation which does not take into account
the equitable considerations referred to in the immediately preceding sentence
of this Section 3.6(d). No Person guilty of fraudulent misrepresentation (within
the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any Person who was not guilty of such fraudulent
misrepresentation. The Holders' obligations to contribute as provided in this
subsection (d) are several and not joint and shall be in proportion to the
relative value of their respective Registerable Securities covered by such
registration statement. In addition, no Person shall be obligated to contribute
hereunder any amounts in payment for any settlement of any action or claim
effected without such Person's prior written consent, which consent shall not be
unreasonably withheld. Notwithstanding anything in this subsection (d) to the
contrary, no indemnifying party (other than the Company) shall be required to
contribute any amount in excess of the amount equal to the net proceeds received
by such party from the sale of the Registerable Securities in the offering to
which the losses, claims, damages or liabilities of the indemnified parties
relate.

                           (e) Other Indemnification. Indemnification and
contribution similar to that specified in the preceding subsections of this
Section 3.6 (with appropriate modifications) shall be given by the Company and
the Holders with respect to any required registration or other qualification of
securities under any Federal, state or blue sky law or regulation of any
governmental authority other than the Securities Act. The indemnification
agreements contained in this Section 3.6 shall be in addition to any other
rights to indemnification or contribution which any indemnified party may have
pursuant to law or contract and shall remain operative and in full force and
effect regardless of any investigation made by or on behalf of any indemnified
party and shall survive the transfer of any of the Registerable Securities by
any of the Holders.

                           (f) Indemnification Payments. The indemnification and
contribution required by this Section 3.6 shall be made by periodic payments of
the amount thereof during the course of the investigation or defense, as and
when bills are received or expense, loss, damage or liability is incurred;
provided, however, that such periodic payments shall only be made upon delivery
to the indemnifying party of an agreement by the indemnified party to repay the
amounts advanced to the extent it is ultimately determined that the indemnified
party is not entitled to indemnification pursuant to this Section 3.6 or
otherwise. The parties hereto agree that for each of them such agreement shall
be deemed to be contained herein.

                                 Page 13 of 20
<PAGE>

                  3.7 Limitation on Sale of Securities.

                  If any registration of Registerable Securities shall be in
connection with an underwritten public offering, the Company (and each Holder
holding more than three percent (3%) of the issued and outstanding securities of
the Company who does not include its Registerable Securities therein) agrees (x)
not to effect any public sale or distribution of any issue of the same class or
series as the Registerable Securities being registered in an underwritten public
offering (other than pursuant to an employee stock option, stock purchase or
similar plan, pursuant to a dividend reinvestment plan, pursuant to a merger,
exchange offer or a transaction of the type specified in Rule 145(a) under the
Securities Act), any securities of the Company similar to any such issue or any
securities of the Company or of any security convertible into or exchangeable or
exercisable for any such issue of the Company during the 15 days prior to, and
during the 45-day period (or such longer period, not in excess of 90 days, as
may be reasonably requested by the underwriter of such offering) beginning on
the effective date of such registration statement (except as part of such
registration) and (y) that any agreement entered into after the date of this
Agreement pursuant to which the Company issues or agrees to issue any privately
placed securities shall contain a provision under which holders of such
securities agree not to effect any public sale or distribution of any such
securities during the period referred to in the foregoing clause (x), except as
part of such registration, if permitted. Notwithstanding any of the foregoing, a
Note Holder shall not be limited in any way in its sale or distribution of any
securities of the Company before, during or after any such underwritten
offering, except to the extent of the Registerable Securities held by the Note
Holder.

                  3.8 No Required Sale.

                  Nothing in this Agreement shall be deemed to create an
independent obligation on the part of any of the Holders to sell any
Registerable Securities pursuant to any effective registration statement.

                  4.       RULE 144.
                           ---------

                  The Company shall take all reasonable actions necessary to
enable holders of Registerable Securities to sell such securities without
registration under the Securities Act within the limitation of the exemptions
provided by (a) Rule 144, or (b) any similar rule or regulation hereafter
adopted by the Commission including, without limiting the generality of the
foregoing, filing on a timely basis all reports required to be filed by the
Exchange Act. Upon the request of any Holder, the Company will deliver to such
holder a written statement as to whether it has complied with such requirements.

                  5.       AMENDMENTS AND WAIVERS.
                           -----------------------

                  This Agreement may not be modified or amended, or any of the
provisions hereof waived, temporarily or permanently, except (i) pursuant to the
written consent of the New Money Holders who hold a majority of the Registerable
Securities held by the Money Holders, and (ii) pursuant to the written consent
of the Note Holders who hold a majority of the Registerable Securities held by
the Note Holders.

                                 Page 14 of 20
<PAGE>

                  6.       ADJUSTMENTS.
                           ------------

                  In the event of any change in the capitalization of the
Company as a result of any stock split, stock dividend, reverse split,
combination, recapitalization, merger, consolidation, or otherwise, the
provisions of this Agreement shall be appropriately adjusted.

                  7.       NOTICES.
                           --------

                  All notices given under this Agreement shall be in writing and
shall be personally served or delivered by a private courier service of
international standing and recognition with charges prepaid, or transmitted by
facsimile, addressed as set forth below, or such other address as such party
shall have specified most recently by written notice:

                  If to Company: Planet Hollywood International, Inc.
                                        8669 Commodity Circle
                                        Orlando, Florida 32819
                                        Attn: General Counsel
                                        Fax: 407-345-1115

                     with a copy to:    Gray, Harris & Robinson, P.A.
                    (which shall not    201 East Pine Street
                    constitute notice)  Suite 1200
                                        Orlando, Florida 32801
                                        Attn: Byrd F. Marshall, Jr.
                                        Fax: 407-244-5690

                  If to a Holder:       the address set forth on Annex A and
Annex B, as applicable Notice shall be deemed given or delivered on the date of
service or transmission if personally served or transmitted by facsimile. Notice
otherwise sent as provided herein shall be deemed given or delivered on the
third business day following delivery of such notice to a reputable overnight
courier service.

                  8.       SUCCESSORS AND ASSIGNS.
                           -----------------------

                  The rights and obligations set forth in this Agreement shall
bind and inure to the benefit of the respective successors and permitted assigns
of the parties hereto. The rights and obligations set forth in this Agreement
shall not be assignable by the Company without the express written consent of
(i) the New Money Holders who hold a majority of the Registerable Securities
held by the New Money Holders and (ii) the Note Holders who hold a majority of
the Registerable Securities held by the Note Holders, (each voting as a separate
group), such consent not to be unreasonably withheld. Upon prior written notice
to the Company, any Holder may assign, in its sole discretion, any or all of its
rights, interests and obligations under this Agreement to any of its
"Affiliates" or to any direct transferee of at least twenty-five percent (25%)
of the Registerable Securities originally held (as of the date of this
Agreement) by such Holder; provided that such transferee agrees to become bound
by the terms of this Agreement. For purposes of this Section

                                 Page 15 of 20
<PAGE>

8, "Affiliate", shall mean, with respect to any party, any Person which
controls, is controlled by, or is under common control with, the subject party.

                  9.       REMEDIES.
                           ---------

                  The parties hereto agree that money damages or other remedy at
law would not be sufficient or adequate remedy for any breach or violation of,
or a default under, this Agreement by them and that, in addition to all other
remedies available to them, each of them shall be entitled to an injunction
restraining such breach, violation or default or threatened breach, violation or
default and to any other equitable relief, including without limitation specific
performance, without bond or other security being required. In any action or
proceeding brought to enforce any provision of this Agreement (including the
indemnification provisions thereof), the successful party shall be entitled to
recover reasonable attorneys' fees in addition to its costs and expenses and any
other available remedy.

                  10.      NO INCONSISTENT AGREEMENTS.
                           ---------------------------

                  The Company will not, on or after the date of this Agreement,
enter into any agreement with respect to its securities which is inconsistent
with the rights granted to the Holders in this Agreement or otherwise conflicts
with the provisions hereof, other than any customary lock-up agreement with the
underwriters in connection with any registration and offering by the Company of
its securities to the public (an "Offering") effected hereunder, pursuant to
which the Company shall agree not to register for sale, and the Company shall
agree not to sell or otherwise dispose of New Common Stock or any securities
convertible into or exercisable or exchangeable for New Common Stock, as
applicable, for a specified period following such Offering. The Company hereby
represents and warrants that the rights granted to the Holders hereunder do not
in any way conflict with and are not inconsistent with any other agreements to
which the Company is a party or by which it is bound.

                  11.      HEADINGS.
                           ---------

                  Headings of the sections and paragraphs of this Agreement are
for convenience only and shall be given no substantive or interpretive effect
whatsoever.

                  12.      GOVERNING LAW; ARBITRATION.
                           ---------------------------

                  (a) This Agreement shall be construed and enforced in
accordance with and governed by the laws of the State of New York, without
giving effect to the conflicts of law principles thereof.

                  (b) Any and all claims arising under or relating to this
Agreement and its subject matter shall be finally resolved only by arbitration
under the Commercial Arbitration Rules of the American Arbitration Association
then in effect. Arbitration shall take place in Orlando, Florida and shall be
conducted in the English language. Any arbitration award or judgment shall be
final, binding and conclusive and judgement may be entered upon such award by
any forum worldwide with jurisdiction over the party against whom the
arbitration award or judgment is to be enforced. The parties intend that in any
such arbitration proceeding that the arbitrators grant broad discovery relevant
to the claims to be arbitrated and that the arbitrators shall have authority to
award any

                                 Page 16 of 20
<PAGE>

remedy or relief that a court could grant in conformity with applicable law. The
losing party in the arbitration (as determined by the arbitral tribunal) shall
pay all costs (including reasonable legal fees and disbursements) incurred by
the prevailing party in connection therewith. Each party hereby waives any and
all rights to, and hereby covenants not to bring, any lawsuit, arbitration or
other proceeding in any jurisdiction, judicial body or forum arising under or
relating to this Agreement or its subject matter (other than an arbitration
proceeding described above or a legal proceeding solely to enforce the award or
judgment of such arbitration proceeding).

                  13.      COUNTERPARTS AND FACSIMILES.
                           ----------------------------

                  This Agreement may be executed in one or more counterparts by
the parties hereto. All counterparts shall be construed together and shall
constitute one agreement. Each counterpart shall be deemed an original hereof
notwithstanding less than all of the parties may have executed it. All facsimile
executions shall be treated as originals for all purposes.

                  14.      INVALIDITY OF PROVISION.
                           ------------------------

                  The invalidity or unenforceability of any provision of this
Agreement in any jurisdiction shall not affect the validity or enforceability of
the remainder of this Agreement in that jurisdiction or the validity or
enforceability of this Agreement, including that provision, in any other
jurisdiction. If any restriction or provision of this Agreement is held
unreasonable, unlawful or unenforceable in any respect, such restriction or
provision shall be interpreted, revised or applied in a manner that renders it
lawful and enforceable to the fullest extent possible under law.

                  15.      FURTHER ASSURANCES.
                           -------------------

                  Each party hereto shall do and perform or cause to be done and
performed all further acts and things and shall execute and deliver all other
agreements, certificates, instruments, and documents as any other party hereto
reasonably may request in order to carry out the intent and accomplish the
purposes of this Agreement and the consummation of the transactions contemplated
hereby.

                  16.      ENTIRE AGREEMENT.
                           -----------------

                  This Agreement and the other writings referred to herein or
delivered in connection herewith contain the entire agreement among the parties
with respect to the subject matter hereof and supersede all prior and
contemporaneous arrangements or understandings with respect thereto.

                  [remainder of page intentionally left blank]

                                 Page 17 of 20
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have duly executed and delivered
this Agreement as of the day and year first written above.

                                            PLANET HOLLYWOOD INTERNATIONAL, INC.

                                            By:____________________________

                                            Name:_________________________

                                            Its:____________________________

                                 Page 18 of 20
<PAGE>

                                     ANNEX A
                                     -------

                                NEW MONEY HOLDERS

_____________________________                 ______________________________

By:__________________________                 By:___________________________
Name:________________________                 Name:_________________________
Its:_________________________                 Its:__________________________

_____________________________                 ______________________________

By:__________________________                 By:___________________________
Name:________________________                 Name:_________________________
Its:_________________________                 Its:__________________________

_____________________________                 ______________________________

By:__________________________                 By:___________________________
Name:________________________                 Name:_________________________
Its:_________________________                 Its:__________________________

_____________________________                 ______________________________

By:__________________________                 By:___________________________
Name:________________________                 Name:_________________________
Its:_________________________                 Its:__________________________

                                 Page 19 of 20
<PAGE>

                                     ANNEX B
                                     -------

                                  NOTE HOLDERS

____________________________                   ______________________________

By:_________________________                   By:___________________________
Name:_______________________                   Name:_________________________
Its:________________________                   Its:__________________________

____________________________                   ______________________________

                                 Page 20 of 20PLANET HOLLYWOOD INTERNATIONAL, INC.
                                2000 STOCK AWARD
                               AND INCENTIVE PLAN

         0. Background.
            ----------

         Pursuant to Section 6.2.5 of the First Amended Joint Plan of
Reorganization of the Company under Chapter 11 of the Bankruptcy Code dated
December 13, 1999, as the same may have been amended or supplemented from time
to time prior to the date hereof and has been approved by the United States
Bankruptcy Court for the District of Delaware (the "Plan of Reorganization"),
the Company is obligated to implement the Plan (as defined herein).

         1. Purpose.
            -------

         The purpose of the Planet Hollywood International, Inc. 2000 Stock
Award and Incentive Plan (the "Plan") is to (i) attract and retain persons
eligible to participate in the Plan; (ii) motivate Participants, by means of
appropriate incentives, to achieve long-range goals; (iii) provide incentive
compensation opportunities that are competitive with those of other similar
companies; and (iv) further identify Participants' interests with those of the
Company's other stockholders through compensation that is based on the Company's
common stock; and thereby promote the long-term financial interest of the
Company, its Subsidiaries and Affiliates, including the growth in value of the
Company's equity and enhancement of long-term stockholder return.

         2. Definitions.
            -----------

         The following terms, as used herein, shall have the following meanings:

                  (a) "Affiliate" shall mean (i) any limited partnership the
general partner of which is either Planet Hollywood or a Subsidiary; (ii) any
limited liability company in which either Planet Hollywood or a Subsidiary owns
at least fifty percent (50%) of the economic interests of such company; (iii)
any general partnership or joint venture in which either Planet Hollywood or a
Subsidiary owns at least fifty percent (50%) of the partnership interests or
venture interests, respectively; and (iv) any foreign entity in which Planet
Hollywood or a Subsidiary owns at least fifty percent (50%) of the shares or
other interests of such company and controls at least fifty percent (50%) of the
Board of Directors or similar governing body of such company.

                  (b) "Award" shall mean any Option, SAR, Restricted Stock,
Restricted Stock Unit, Dividend Equivalent or Other Stock-Based Award or Other
Cash-Based Award granted under the Plan.

                  (c) "Award Agreement" shall mean any written agreement,
contract, or other instrument or document between the Company and a Participant
or a Grantee

                                  Page 1 of 17
<PAGE>

evidencing an Award.

                  (d) "Board" shall mean the Board of Directors of the Company.

                  (e) "Change in Control" shall mean the occurrence of an event
described in Section 12(f) hereof.

                  (f) "Code" shall mean the Internal Revenue Code of 1986, as
amended.

                  (g) "Committee" shall mean the Committee as appointed by the
Board and as described in Section 3 hereof.

                  (h) "Company" shall mean, collectively, Planet Hollywood and
all of its Subsidiaries and Affiliates now held or hereafter formed, organized,
or acquired.

                  (i) "Consolidated Net Earnings" shall mean the net earnings of
the Company for each fiscal year in a Performance Period determined in
accordance with generally accepted accounting principles and reported upon by
the Company's independent accountants, but before any provision for amounts paid
or accrued with respect to Awards in respect of such Performance Period.

                  (j) "Disability" shall mean a disability which would qualify
as a "permanent and total disability" under Section 22(e)(3) of the Code or any
successor provision.

                  (k) "Dividend Equivalent" shall mean a right, granted to a
Participant under Section 10, to receive cash, Stock, or other property equal in
value to dividends paid with respect to a specified number of shares of Stock.
Dividend Equivalents may be awarded on a freestanding basis or in connection
with another Award, and may be paid currently or on a deferred basis.

                  (l) "Exchange Act" shall mean the Securities Exchange Act of
1934, as amended.

                  (m) "Fair Market Value" of a share of Stock on any date shall
mean (1) the opening price of such Stock on such date as officially reported on
the principal national securities exchange on which such Stock is then listed or
admitted to trading, or (2) if such Stock is not then listed or admitted to
trading on any national securities exchange but is designated as a national
market system security by the National Association of Securities Dealers, Inc.,
the opening price of the Stock on such date, or (3) if there shall have been no
trading on the previous business day or if the Stock is not so designated, the
average of the closing bid and asked prices of the Stock on such previous
business day as shown by the NASD automated quotation system, or (4) if such
Stock is not then listed or admitted to trading on any national exchange or
quoted in the over-the-counter market, the value determined by the Committee.

                                  Page 2 of 17
<PAGE>

                  (n) "Grantee" shall mean an officer, director or other
employee of the Group who is, pursuant to Section 4 of the Plan, selected to
participate herein with respect to the grant of an Incentive Stock Option.

                  (o) "Group" shall mean, collectively, Planet Hollywood and all
of its Subsidiaries now held or hereafter formed, organized, or acquired.

                  (p) "Incentive Stock Option" shall mean an Option that meets
the requirements of Section 422 of the Code, or any successor provision, and
that is designated by the Committee as an Incentive Stock Option.

                  (q) "Nonqualified Stock Option" shall mean an Option other
than an Incentive Stock Option.

                  (r) "Operating Earnings Per Share" shall mean the per share
net earnings of the Company for each fiscal year in a Performance Period
determined in accordance with generally accepted accounting principles and
reported in the Company's audited financial statements for such fiscal year.

                  (s) "Option" shall mean the right, granted pursuant to this
Plan, of a holder to purchase shares of Stock at a price and upon the terms to
be specified by the Committee.

                  (t) "Other Cash-Based Award" shall mean cash awarded under
Section 11, including cash awarded as a bonus or upon the attainment of
specified performance criteria or otherwise as permitted under the Plan.

                  (u) "Other Stock-Based Award" shall mean a right or other
interest granted to a Participant under Section 11 that may be denominated or
payable in, valued in whole or in part by reference to, or otherwise based on,
or related to, Stock, including, but not limited to (1) unrestricted Stock
awarded as a bonus or upon the attainment of specified Performance Goals or
otherwise as permitted under the Plan, and (2) a right granted to a Participant
to acquire Stock from the Company for cash and/or a promissory note containing
terms and conditions prescribed by the Committee.

                  (v) "Participant" shall mean (i) an officer or director of the
Company, whether or not an employee, (ii) an employee of the Company who is not
an officer or director, or (iii) a person or service company that performs
services in the capacity of an independent contractor on behalf of the Company,
who (or which) is, pursuant to Section 4 of the Plan selected to participate
herein; provided, however, any Participant who (or which) is not also a Grantee
hereunder shall not be eligible to participate in the grant of an Incentive
Stock Option hereunder.

                  (w) "Performance Goal" shall mean the criteria and objectives,
determined by the Committee, which must be met during the applicable Performance
Period as a condition of the Participant's receipt of payment with respect to an
Award. Performance

                                  Page 3 of 17
<PAGE>

Goals may include any or all of the following: (i) attainment of an amount of
cumulative Consolidated Net Earnings during a Performance Period: (ii)
attainment of a percentage of Return on Equity for a Performance Period; (iii)
attainment of amounts of Operating Earnings Per Share of the Company; (iv)
increases in the market price of Stock or levels of total return to stockholders
during the Performance Period; (v) attainment of goals established based on the
financial performance of individual subsidiaries or business segments of the
Company relating to increases in total revenues, operating expenses or pre-tax
operating earnings; (vi) such other personal performance goals as the Committee
shall, from time to time, establish.

                  (x) "Performance Period" shall mean a period of three
consecutive years or such other period (which in no case may be less than one
year) as may be determined by the Committee.

                  (y) "Plan" shall mean the Planet Hollywood International, Inc.
2000 Stock Award and Incentive Plan.

                  (z) "Plan Year" shall mean the Company's fiscal year.

                  (aa) "Planet Hollywood" shall mean Planet Hollywood
International, Inc., a Delaware corporation.

                  (bb) "Relationship" shall mean, solely with respect to an
independent contractor, such individual's or service company's capacity of
performing services as an independent contractor for the Company, and solely
with respect to a director that is not an employee of the Company, the
termination of such individual's position as a director of the Company.

                  (cc) "Restricted Stock" shall mean an Award of shares of Stock
to a Participant under Section 8 that may be subject to certain restrictions and
to a risk of forfeiture.

                  (dd) "Restricted Stock Unit" shall mean a right granted to a
Participant under Section 9 to receive Stock or cash at the end of a specified
deferral period, which right may be conditioned on the satisfaction of
Performance Goals or other criteria as may be determined by the Committee.

                  (ee) "Retirement" shall mean retirement of a Participant (who
is not an independent contractor) or a Grantee from the employ of the Company in
accordance with the terms of an applicable qualified retirement plan or, if such
Participant or Grantee is not covered by such a plan, on or after such
Participant's or Grantee's 65th birthday.

                  (ff) "Return on Equity" shall mean, for each fiscal year, the
quotient obtained by dividing (i) Consolidated Net Earnings for a fiscal year by
(ii) the average of common stockholders' equity of the Company as of the
beginning and the end of such fiscal year.

                                  Page 4 of 17
<PAGE>

                  (gg) "Rule 16b-3" shall mean Rule 16b-3 under the Exchange
Act.

                  (hh) "Stock" shall mean shares of voting Class A Common Stock,
par value $.01 per share, of Planet Hollywood.

                  (ii) "SAR" shall mean a tandem or freestanding stock
appreciation right, granted to a Participant under Section 7, to be paid in an
amount measured by the appreciation in the Fair Market Value of Stock from the
date of grant to the date of exercise of the right.

                  (jj) "Subsidiary" shall mean any corporation in an unbroken
chain of corporations beginning with the Company if, at the time of granting of
an Award, each of the corporations (other than the last corporation in the
unbroken chain) owns stock possessing 50% or more of the total combined voting
power of all classes of stock in one of the other corporations in the chain.

                  (kk) "Ten Percent Stockholder" shall mean a Grantee who, at
the time an Incentive Stock Option is to be granted to such Grantee, owns
(within the meaning of Section 422(b)(6) of the Code) stock possessing more than
ten percent (10%) of the total combined voting power of all classes of stock of
Planet Hollywood (or any Subsidiary) within the meaning of Section 424(d) of the
Code.

                  (ll) "Unvested Portion" shall mean that portion of an Option
or an SAR granted to a Participant or Grantee hereunder which is not a Vested
Portion. In the event a Participant or a Grantee is granted more than one Option
or SAR, the "Unvested Portion" shall refer to all of such Unvested Portions.

                  (mm) "Vested Portion" shall mean, as of a particular date,
that portion of an Option or an SAR granted to a Participant or Grantee
hereunder which is exercisable, and with respect to which a Participant or a
Grantee is vested, pursuant to the terms of such Participant's or Grantee's
Award Agreement. In the event a Participant or a Grantee is granted more than
one Option or SAR, the "Vested Portion" shall refer to all of such Participant's
or Grantee's Vested Portions.

         3. Administration.
            --------------

         The Plan shall be administered by the Committee. The Committee shall
have the authority in its sole discretion, subject to and not inconsistent with
the express provisions of the Plan, to administer the Plan and to exercise all
the powers and authorities either specifically granted to it under the Plan or
necessary or advisable in the administration of the Plan, including, without
limitation, the authority to grant Awards; to determine the persons to whom and
the time or times at which Awards shall be granted; to determine the type and
number of Awards to be granted, the number of shares of Stock to which an Award
may relate and the terms, conditions, restrictions and Performance Goals
relating to any Award; to accelerate or defer the vesting of any Award; to
determine whether, to

                                  Page 5 of 17
<PAGE>

what extent, and under what circumstances an Award may be settled, canceled,
forfeited, transferred, exchanged, or surrendered; to make adjustments in the
Performance Goals in recognition of unusual or non-recurring events affecting
the Company or the financial statements of the Company, or in response to
changes in applicable laws, regulations, or accounting principles; to construe
and interpret the Plan and any Award; to prescribe, amend and rescind rules and
regulations relating to the Plan; to determine the terms and provisions of Award
Agreements; and to make all other determinations deemed necessary or advisable
for the administration of the Plan.

         The Committee shall be selected by the Board, and shall consist of two
or more members of the Board. The Committee may appoint a chairperson and a
secretary and may make such rules and regulations for the conduct of its
business as it shall deem advisable, and shall keep minutes of its meetings. All
determinations of the Committee shall be made by a majority of its members
either present in person or participating by conference telephone at a meeting
or by written consent. The Committee may delegate to one or more of its members
or to one or more agents such administrative duties as it may deem advisable,
and the Committee or any person to whom it has delegated duties as aforesaid may
employ one or more persons to render advice with respect to any responsibility
the Committee or such person may have under the Plan. All decisions,
determinations and interpretations of the Committee shall be final and binding
on all persons, including the Company, the Participant, the Grantee (or any
person claiming any rights under the Plan from or through any Participant or
Grantee) and any stockholder.

         No member of the Board or the Committee shall be liable for any action
taken or determination made in good faith with respect to the Plan or any Award
granted hereunder.

         4. Eligibility.
            -----------

         Awards may be granted to (i) officers, directors and other employees of
the Company, (ii) directors who are not employees of the Company, and (iii)
persons and service companies providing services in their capacities as
independent contractors for the Company, in the sole discretion of the
Committee. In determining the persons or service companies to whom Awards shall
be granted and the type of Award, the Committee shall take into account such
factors as the Committee shall deem relevant in connection with accomplishing
the purposes of the Plan.

         5. Stock Subject to the Plan; Limitation on Grants. The maximum number
of shares of Stock reserved for issuance pursuant to the Plan shall be Five
Hundred Thousand (500,000) shares, subject to the adjustment as provided herein;
provided, however, in the event the Board approves and effects a stock split,
then the maximum number of shares of Stock reserved for issuance pursuant to the
Plan shall, without any further action by the Board or the Committee and without
amendment to this Plan, be correspondingly increased (in accordance with the
terms of such split), subject to adjustment as provided herein.

         In the event that the Committee shall determine that any dividend or
other

                                  Page 6 of 17
<PAGE>

distribution (whether in the form of cash, Stock, or other property),
recapitalization, stock split, reverse stock split, reorganization, merger,
consolidation, spin-off, combination, repurchase, or share exchange, or other
similar corporate transaction or event, affects the Stock such that an
adjustment is appropriate in order to prevent dilution or enlargement of the
rights of Participants under the Plan, then the Committee shall make such
equitable changes or adjustments as it deems necessary or appropriate to any or
all of (i) the number and kind of shares of Stock which may thereafter be issued
in connection with Awards, (ii) the number and kind of shares of Stock issued or
issuable in respect of outstanding Awards, and (iii) the exercise price, grant
price, or purchase price relating to any Award; provided, that, with respect to
Incentive Stock Options, such adjustment shall be made in accordance with
Section 424 of the Code.

         If any Award granted under this Plan is terminated, canceled or
otherwise expires for any reason whatsoever, in whole or in part, the shares (or
remaining shares) of Stock subject to that particular Award shall again be
available for grant under this Plan.

         6. Stock Options. The Committee shall have authority to grant
Nonqualified Stock Options to Participants and Incentive Stock Options to
Grantees on the following terms and conditions:

                  (a) Number of Shares. Each Award Agreement shall state the
number of shares of Stock to which the Option relates.

                  (b) Type of Option. Each Award Agreement shall specifically
state that the Option constitutes an Incentive Stock Option or a Nonqualified
Stock Option.

                  (c) Option Price. Each Award Agreement shall state the Option
price. The Option price per share of Stock purchasable under an Option shall be
determined by the Committee; provided, that, in the case of an Incentive Stock
Option, such exercise price shall be not less than the Fair Market Value of a
share on the date of grant of such Option. The date as of which the Committee
adopts a resolution expressly granting an Option shall be considered the day on
which such Option is granted.

                  (d) Method and Time of Payment. The Option price shall be paid
in full, at the time of exercise, in cash or in shares of Stock having a Fair
Market Value equal to such Option price or in a combination of cash and Stock
or, in the sole discretion of the Committee, through a cashless exercise
procedure.

                  (e) Term and Exercisability of Options. Options shall be
exercisable over the exercise period (which, with respect to Incentive Stock
Options, shall not exceed (10) years from the date of grant), at such times and
upon such conditions as the Committee may determine, as reflected in the Award
Agreement; provided, that, the Committee shall have the authority to accelerate
the exercisability or vesting of any outstanding Option (including, without
limitation, the exercisability or vesting of any outstanding Option after the
occurrence of an event described in Section 6(i) below), or extend the exercise
period, at such times and under such circumstances as it, in its sole
discretion, deems appropriate;

                                  Page 7 of 17
<PAGE>
provided, however, with respect to Incentive Stock Options, the Committee shall
not be permitted to extend the exercise period beyond that date which is ten
(10) years from the date of grant. An Option may be exercised, as to any or all
full shares of Stock as to which the Option has become exercisable, by written
notice delivered in person or by mail to the Secretary of Planet Hollywood,
specifying the number of shares of Stock with respect to which the Option is
being exercised. For purposes of the preceding sentence, the date of exercise
will be deemed to be the date upon which the Secretary of Planet Hollywood
receives such notification, provided that payment for such shares is received by
Planet Hollywood upon such date.

                  (f) Delivery of Purchased Stock. On the exercise date
specified in the Participant's or Grantee's notice or as soon thereafter as is
practicable, Planet Hollywood shall deliver to the exercising Participant or
Grantee, a certificate or certificates for the shares of Stock then being
purchased (out of theretofore unissued Stock or reacquired Stock, as Planet
Hollywood may elect) upon full payment for such shares. The obligation of Planet
Hollywood to deliver Stock shall, however, be subject to the condition that if
at any time the Board shall determine in its discretion that the listing,
registration or qualification of the Option or such shares upon any securities
exchange or under any state or federal law, or the consent or approval of any
governmental regulatory body, is necessary or desirable as a condition of, or in
connection with, the Option or the issuance or purchase of Stock thereunder, the
Option may not be exercised in whole or in part unless such listing,
registration, qualification, consent or approval shall have been effected or
obtained free of any conditions not acceptable to the Board.

                  (g) Failure to Pay or Accept Delivery. If an exercising
Participant or Grantee fails to pay for any Stock specified in such notice or
fails to accept delivery thereof, such Participant's or Grantee's right to
purchase such Stock may be terminated by the Committee or Planet Hollywood.

                  (h) No Rights of Stockholders. Neither any Participant nor
Grantee nor any personal representative (or beneficiary) shall be, or shall have
any rights and privileges of, a stockholder of Planet Hollywood with respect to
any shares of Stock purchasable or issuable upon the exercise of any Option
granted hereunder, in whole or in part, prior to the date of exercise of such
Option.

                  (i) Termination. If a Participant's or Grantee's employment
by, or Relationship with, the Company terminates, Options granted to such
Participant or Grantee prior to such termination shall remain exercisable
following the effective date of such termination as follows:

                           (i) Cause. If the Relationship of a Participant or
the employment of a Participant or Grantee by the Company is terminated for
cause, all Options granted to such Participant or Grantee shall be canceled as
of the effective date of such termination;

                           (ii) Retirement or Disability. Upon a Participant's
or Grantee's

                                  Page 8 of 17
<PAGE>

termination of employment by reason of Retirement or Disability, or
a Participant's Relationship by reason of Disability, such Participant's or
Grantee's Vested Portion as of the effective date of such Retirement or
Disability shall remain exercisable for a period of one (1) year following such
effective date (or for such longer period as may be prescribed by the Committee,
but in no event beyond the expiration date of such Option) and such
Participant's or Grantee's Unvested Portion as of the effective date of such
Retirement or Disability shall be canceled;

                           (iii) Other Terminations of the Relationship or
Employment. If a Participant's Relationship or a Participant's or Grantee's
employment by the Company is terminated for any reason other than those
described in subsection (i) or (ii) above, the Vested Portion as of the
effective date of such termination of the Relationship or employment shall
remain exercisable for a period of three (3) months from the effective date of
such termination of the Relationship or employment (or for such longer period as
may be prescribed by the Committee, but in no event beyond the expiration date
of such Option) and the Unvested Portion as of the effective date of such
Participant's or Grantee's termination of the Relationship or employment shall
be canceled;

                           (iv) Death. If a Participant dies during the
Relationship or a Participant or Grantee dies while employed by the Company or
during the applicable Option exercise period following the effective date of
such Participant's or Grantee's Retirement, Disability or other termination of
the Relationship or employment, as described in subsections (ii) or (iii) above,
such Participant's or Grantee's executors, administrators, legatees or
distributees shall have a period expiring on the date one (1) year from the date
of such Participant's or Grantee's death (or for such longer period as may be
prescribed by the Committee, but in no event beyond the expiration date of such
Option) within which to exercise such Participant's or Grantee's exercisable
Options and the Unvested Portion as of the date of such Participant's or
Grantee's death shall become fully vested as of such date (except with respect
to the death of a Participant or Grantee occurring after the effective date of
such Participant's or Grantee's Retirement, Disability or other termination of
the Relationship or employment, in which case, such Unvested Portion as of the
effective date of such Participant's or Grantee's death shall be canceled).

                  A transfer of a Participant's or Grantee's Relationship
between Planet Hollywood and any Subsidiary or Affiliate, or between any
Subsidiaries or Affiliates, shall not be deemed to be a termination of such
Participant's or Grantee's Relationship. Further, the conversion of a
Participant from an independent contractor to an employee, or vice versa, shall
not be considered a termination of such Participant's Relationship or
employment.

                  (j) Other Provisions. Options may be subject to such other
conditions (which conditions shall lapse; provided, the Committee shall
prescribe in its discretion the duration of such lapsing conditions) including,
but not limited to, restrictions on transferability of the shares acquired upon
exercise of such Options, as the Committee may prescribe in its discretion.

                                  Page 9 of 17
<PAGE>

                  (k) Incentive Stock Options. Options granted as Incentive
Stock Options shall be subject to the following special terms and conditions, in
addition to the general terms and conditions specified in this Section 6.

                           (i) Value of Shares. The aggregate Fair Market Value
(determined as of the date the Incentive Stock Option is granted) of the shares
of Stock with respect to which Incentive Stock Options granted under this Plan
and all other plans of the Group become exercisable for the first time by each
Grantee during any calendar year shall not exceed $100,000.

                           (ii) Ten Percent Stockholder. In the case of an
Incentive Stock Option granted to a Ten Percent Stockholder, (x) the Option
Price shall not be less than one hundred ten percent (110%) of the Fair Market
Value of the shares of Stock on the date of grant of such Incentive Stock
Option, and (y) the exercise period shall not exceed five (5) years from the
date of grant of such Incentive Stock Option.

                           (iii) Issuance to Grantees. Incentive Stock Options
shall be awarded solely to those eligible persons that are Grantees hereunder.

                           (iv) Timing of Grant. Incentive Stock Options shall
be granted hereunder only within the ten (10) year period commencing with the
Effective Date of the Plan.

         7. Stock Appreciation Rights. The Committee is authorized to grant
freestanding SARs and SARs granted in tandem with an Option to Participants on
the following terms and conditions:

                  (a) In General. Unless the Committee determines otherwise, an
SAR (1) granted in tandem with a Nonqualified Stock Option may be granted at the
time of grant of the related Nonqualified Stock Option or at any time thereafter
or (2) granted in tandem with an Incentive Stock Option may only be granted at
the time of grant of the related Incentive Stock Option. An SAR granted in
tandem with an Option shall be exercisable only to the extent the underlying
Option is exercisable.

                  (b) SARs. An SAR shall confer on the Participant a right to
receive with respect to each share subject thereto, upon exercise thereof, the
excess of (1) the Fair Market Value of one share of Stock on the date of
exercise over (2) the grant price of the SAR (which in the case of an SAR
granted in tandem with an Option shall be equal to the exercise price of the
underlying Option, and which in the case of any other SAR shall be such price as
the Committee may determine).

                  (c) Treatment of Related Options and Tandem SARs Upon
Exercise. Upon the exercise of a tandem SAR, the related Option shall be
canceled to the extent of the number of shares of Stock as to which the tandem
SAR is exercised and upon the exercise of an Option granted in connection with a
tandem SAR, the tandem SAR shall be canceled to the extent of the number of
shares of Stock as to which the Option is

                                 Page 10 of 17
<PAGE>

exercised.

                  (d) Method of Exercise. SARs shall be exercised by a
Participant only by a written notice delivered in person or by mail to the
Secretary of Planet Hollywood, specifying the number of shares of Stock with
respect to which the SAR is being exercised. If requested by the Committee, the
Participant shall deliver the Award Agreement evidencing the SAR and the related
Option (if applicable) to the Secretary of Planet Hollywood, who shall endorse
thereon a notation of such exercise and return such Award Agreement to the
Participant. For purposes of this subsection (d), the date of exercise will be
deemed to be the date upon which the Secretary of Planet Hollywood receives such
notification.

                  (e) Form of Payment. Payment of the amount determined under
subsection (d) above may be made in whole shares of Stock in a number determined
based upon their Fair Market Value on the date of exercise of the SAR or,
alternatively, at the sole discretion of the Committee, solely in cash, or in a
combination of cash and shares of Stock as the Committee deems advisable. If the
Committee decides to make full payment in shares of Stock, and the amount
payable results in a fractional share, payment for the fractional share will be
made in cash. Notwithstanding the foregoing, to the extent required by Rule
16b-3, no payment in the form of cash may be made upon the exercise of a SAR to
a Participant who is subject to the reporting requirements of Section 16(a) of
the Exchange Act, unless the exercise of such SAR is made during the period
beginning on the third business day and ending on the twelfth business day
following the date of release for publication of the Company's quarterly or
annual statements of earnings or is otherwise made under circumstances which
comply with said Rule 16b-3.

                  (f) Term and Exercisability of Freestanding SARs. Each
applicable Award Agreement shall provide the exercise schedule for the
freestanding SAR as determined by the Committee; provided, that, the Committee
shall have the authority to accelerate the exercisability of any freestanding
SAR at such time and under such circumstances as it, in its sole discretion,
deems appropriate. The exercise period shall be ten (10) years from the date of
the grant of the freestanding SAR or such shorter period as is determined by the
Committee. The exercise period shall be subject to earlier termination as
provided in Section 7(g) hereof.

                  (g) Termination. The terms and conditions set forth in Section
6(i) hereof, relating to exercisability of Options in the event of termination
of the Relationship or employment with the Company shall apply equally with
respect to the exercisability of freestanding SARs following termination of the
Relationship or employment.

         8. Restricted Stock. The Committee is authorized to grant Restricted
Stock to Participants on the following terms and conditions:

                  (a) Issuance and Restrictions. Each applicable Award Agreement
shall set forth thenumber of shares of Restricted Stock granted pursuant to the
Award Agreement. Restricted Stock shall be subject to such restrictions on
transferability and other restrictions, if any, as the Committee may impose at
the date of grant or thereafter,

                                 Page 11 of 17
<PAGE>
which restrictions may lapse separately or in combination at such times, under
such circumstances, in such installments, or otherwise, as the Committee may
determine. Such conditions may lapse in whole or in part based upon achievement
of such Performance Goals for the Performance Period as have been set by the
Committee.

                  (b) Restrictions. Prior to vesting, shares of Restricted Stock
may not be sold, assigned, transferred, pledged, hypothecated or otherwise
disposed of, except by will or the laws of descent and distribution, or, if then
permitted under Rule 16b-3, pursuant to a qualified domestic relations order as
defined in Title I of the Employee Retirement Income Security Act of 1974, as
amended. Certificates for shares of Stock issued pursuant to awards of
Restricted Stock shall bear an appropriate legend referring to such
restrictions, and any attempt to dispose of any such shares of Stock in
contravention of such restrictions shall be null and void and without effect.
Prior to vesting, such certificates shall be held in escrow by an escrow agent
appointed by the Committee.

                  (c) Forfeiture. Subject to such exceptions as may be
determined by the Committee, if the Participant's continuous Relationship or
employment with the Company shall terminate for any reason prior to vesting of
the Restricted Stock, or to the extent any Performance Goals for the Performance
Period are not met, any shares remaining subject to restrictions shall thereupon
be forfeited by the Participant and transferred to, and reacquired by, the
Company at no cost to the Company; provided, that, the Committee may provide, by
rule or regulation or in any Award Agreement, or may determine in any individual
case, that restrictions or forfeiture conditions relating to Restricted Stock
will be waived in whole or in part.

                  (d) Rights as a Stockholder. Except to the extent restricted
under the Award Agreement, a Participant shall have all of the rights of a
Stockholder including, without limitation, the right to vote Restricted Stock
and the right to receive dividends thereon. Dividends paid on Restricted Stock
shall be either paid at the dividend payment date, or deferred for payment to
such date as determined by the Committee, in cash or in shares of unrestricted
Stock having a Fair Market Value equal to the amount of such dividends. Stock
distributed in connection with a stock split or stock dividend, and other
property distributed as a dividend, shall be subject to restrictions and a risk
of forfeiture to the same extent as the Restricted Stock with respect to which
such Stock or other property has been distributed.

                  (e) Other Provisions. The Restricted Stock Agreements
authorized under the Plan shall contain such other provisions not inconsistent
with this Plan, including, without limitation, the imposition of restrictions
upon the transferability of Restricted Stock and conditions on vesting of
Restricted Stock as the Committee shall deem advisable.

         9. Restricted Stock Units. The Committee is authorized to grant
Restricted Stock Units to Participants, subject to the following terms and
conditions:

                  (a) Award and Restrictions. Delivery of Stock or cash, as
determined by the Committee, will occur upon expiration of the deferral period
specified for Restricted Stock Units by the Committee. In addition, Restricted

                                 Page 12 of 17
<PAGE>
Stock Units shall be subject to such restrictions as the Committee may impose,
at the date of grant or thereafter, which restrictions may lapse at the
expiration of the deferral period or at earlier or later specified times,
separately or in combination, in installments or otherwise, as the Committee may
determine. Such restrictions may lapse in whole or in part based upon
achievement of such Performance Goals for the Performance Period as have been
set by the Committee.

                  (b) Forfeiture. Upon termination of the Relationship or
employment during the applicable deferral period or portion thereof to which
forfeiture conditions apply, or upon failure to satisfy any other conditions
precedent to the delivery of Stock or cash to which such Restricted Stock Units
relate (or to the extent any Performance Goals for the Performance Period are
not met), all Restricted Stock Units that are then subject to deferral or
restriction shall be forfeited; provided, that, the Committee may provide, by
rule or regulation or in any Award Agreement, or may determine in any individual
case, that restrictions or forfeiture conditions relating to Restricted Stock
Units will be waived in whole or in part.

         10. Dividend Equivalents. The Committee is authorized to grant Dividend
Equivalents to Participants. The Committee may provide, at the date of grant or
thereafter, that Dividend Equivalents shall be paid or distributed when accrued
or shall be deemed to have been reinvested in additional Stock, or other
investment vehicles as the Committee may specify, provided that Dividend
Equivalents (other than freestanding Dividend Equivalents) shall be subject to
all conditions and restrictions of the underlying Awards to which they relate.

         11. Other Stock-or Cash-Based Awards. The Committee is authorized to
grant to Participants Other Stock-Based Awards or Other Cash-Based Awards as an
element of or supplement to any other Award under the Plan, as deemed by the
Committee to be consistent with the purposes of the Plan. Such Awards may be
granted with value and payment contingent upon achievement of Performance Goals
or any other factors designated by the Committee. The Committee shall determine
the terms and conditions of such Awards at the date of grant or thereafter.

         12. General Provisions.
             ------------------

                  (a) Compliance with Legal Requirements. The Plan and the
granting and exercising of Awards, and the other obligations of the Company
under the Plan and any Award Agreement or other agreement shall be subject to
all applicable federal and state laws, rules and regulations, and to such
approvals by any regulatory or governmental agency as may be required. The
Company, in its discretion, may postpone the issuance or delivery of Stock under
any Award as the Company may consider appropriate, and may require any
Participant or Grantee to make such representations and furnish such information
as it may consider appropriate in connection with the issuance or delivery of
Stock in compliance with applicable laws, rules and regulations. Furthermore,
notwithstanding any other provision of the Plan, the Company shall have no
liability to deliver any shares of Stock under the Plan or make any other
distributions of benefits

                                 Page 13 of 17
<PAGE>
under the Plan unless such delivery or distribution would comply with all
applicable laws (including, without limitation, the requirements of the
Securities Act of 1933, as amended), and the applicable requirements of any
securities exchange or similar entity.

                  (b) Transferability. Unless otherwise permitted by the
Committee in writing, Awards shall not be transferable by a Participant or
Grantee except by will or the laws of descent and distribution or by operation
of law.

                  (c) No Right To Continued Employment or Relationship. Nothing
in the Plan or in any Award granted or any Award Agreement or other agreement
entered into pursuant hereto shall confer upon any Participant or Grantee the
right to continue in the employ of the Company or in their Relationship, or to
be entitled to any remuneration or benefits not set forth in the Plan or such
Award Agreement or other agreement or to interfere with or limit in any way the
right of the Company to terminate such Participant's or Grantee's employment or
Relationship.

                  (d) Withholding Taxes. Where a Participant or Grantee or other
person is entitled to receive shares of Stock pursuant to the exercise of an
Option or is otherwise entitled to receive shares of Stock or cash pursuant to
an Award hereunder, the Company shall have the right to require the Participant
or Grantee or such other person to pay to the Company the amount of any taxes
which the Company may be required to withhold before delivery to such
Participant or Grantee or other person of cash or a certificate or certificates
representing such shares.

         Unless otherwise prohibited by the Committee or by applicable law, a
Participant or Grantee may satisfy any such withholding tax obligation by any of
the following methods, or by a combination of such methods: (a) tendering a cash
payment; (b) authorizing the Company to withhold from the shares of Stock or
cash otherwise payable to such Participant or Grantee (1) one or more of such
shares having an aggregate Fair Market Value, determined as of the date the
withholding tax obligation arises, less than or equal to the amount of the total
withholding tax obligation or (2) cash in an amount less than or equal to the
amount of the total withholding tax obligation; or (c) delivering to the Company
previously acquired shares of Stock (none of which shares may be subject to any
claim, lien, security interest, community property right or other right of
spouses or present or former family members, pledge, option, voting agreement or
other restriction or encumbrance of any nature whatsoever) having an aggregate
Fair Market Value, determined as of the date the withholding tax obligation
arises, less than or equal to the amount of the total withholding tax
obligation. A Participant's or Grantee's election to pay his or her withholding
tax obligation (in whole or in part) by the method described in (b)(1) above is
irrevocable with respect to such exercise once it is made, may be disapproved by
the Committee and, if made by any person who is subject to Section 16(b) of the
Exchange Act, must be made (x) only during the period beginning on the third
business day following the date of release of the Company's quarterly or annual
summary statement of sales and earnings and ending on the twelfth business day
following the date of such release or (y) not less than six months prior to the
date such Participant's or Grantee's withholding tax obligation arises.

                                 Page 14 of 17
<PAGE>

                  (e) Amendment and Termination of the Plan. The Board or the
Committee may at any time and from time to time alter, amend, suspend, or
terminate the Plan in whole or in part; provided, that, no amendment which
requires stockholder approval under applicable law or in order for the Plan to
continue to comply with the Exchange Act shall be effective unless the same
shall be approved by the requisite vote of the stockholders of the Company.
Notwithstanding the foregoing, no amendment shall affect adversely any of the
rights of any Participant or Grantee, without such Participant's or Grantee's
consent, under any Award theretofore granted under the Plan; provided, however,
the Plan may be amended by either the Board or the Committee at any time without
the consent of any Participant or Grantee or the approval of Planet Hollywood's
stockholders if either the Board or the Committee determines, each in its sole
discretion, that amendment is necessary or advisable in the light of any
addition to or change in the Code or in the regulations issued thereunder, or
any federal or state securities law or other law or regulation. If the Plan is
terminated, any unexercised Award shall continue to be exercisable in accordance
with its terms and the terms of the Plan in effect immediately prior to such
termination.

                  (f) Change in Control. Notwithstanding any other provision of
the Plan to the contrary, if, while any Awards remain outstanding under the
Plan, a "Change in Control" of Planet Hollywood (as defined in this Section
12(f)) shall occur, (1) all Options and freestanding SARs granted under the Plan
that are outstanding at the time of such Change in Control shall become
immediately exercisable in full; (2) with respect to Awards granted with respect
to Performance Goals, all Performance Periods outstanding at the time of such
Change in Control shall be deemed to have been completed, the maximum level of
performance set forth under the respective Performance Goals shall be deemed to
have been attained and a pro rata portion (based on the number of full and
partial months which have elapsed with respect to each Performance Period) of
each such outstanding Award granted to each Participant or Grantee for all
outstanding Performance Periods shall become payable in cash to each Participant
or Grantee, with the remainder of each such outstanding award being canceled for
no value; and (3) all restrictions with respect to shares of Restricted Stock or
any other Awards not described in (1) and (2) above shall lapse, and such shares
or other Awards shall be fully vested and nonforfeitable. For purposes of this
Section 12(f), with respect to determining the cash equivalent value of a
Restricted Stock Unit, the Fair Market Value of a share of Stock shall be deemed
to equal the greater of (i) the Fair Market Value of a share of Stock as of the
date on which a Change in Control occurs, or (ii) the price of a share of Stock
which is paid or offered to be paid, by any person or entity, in connection with
any transaction which constitutes a Change in Control pursuant to this Section
12(f).

         For purposes of this Section 12(f), a Change in Control of Planet
Hollywood shall occur upon the happening of the earliest to occur of the
following:

                           (i) any "person," as such term is used in Sections
13(d) and 14(d) of the Exchange Act (other than (1) Planet Hollywood, (2) any
trustee or other fiduciary holding securities under an employee benefit plan of
Planet Hollywood, or (3) any corporation owned, directly or indirectly, by the
stockholders of Planet Hollywood in

                                 Page 15 of 17
<PAGE>

substantially the same proportions as their ownership of Stock (each an
"excluded person")), is or becomes the "beneficial owner" (as defined in Rule
13d-3 under the Exchange Act), directly or indirectly, of securities of Planet
Hollywood (not including in the securities beneficially owned by such person any
securities acquired directly from Planet Hollywood or its affiliates)
representing 50% or more of the combined voting power of Planet Hollywood's then
outstanding voting securities;

                           (ii) during any period of not more than two
consecutive years, individuals who at the beginning of such period constitute
the Board, and any new director (other than a director designated by a person
who has entered into an agreement with Planet Hollywood to effect a transaction
described in clause (i), (iii) or (iv) of this subsection (f)) whose election by
the Board or nomination for election by Planet Hollywood's stockholders was
approved by a vote of at least two-thirds (2/3) of the directors then still in
office who either were directors at the beginning of the period or whose
election or nomination for election was previously so approved (other than
approval given in connection with an actual or threatened proxy or election
contest), cease for any reason to constitute at least a 70% majority of the
Board;

                           (iii) the stockholders of Planet Hollywood approve a
merger or consolidation of Planet Hollywood with any other corporation, other
than (A) a merger or consolidation which would result in the voting securities
of Planet Hollywood outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or by being converted into voting
securities of the surviving or parent entity) 80% or more of the combined voting
power of the voting securities of Planet Hollywood or such surviving or parent
entity outstanding immediately after such merger or consolidation or (B) a
merger or consolidation effected to implement a recapitalization of Planet
Hollywood (or similar transaction) in which no "person" (as hereinabove defined)
acquired 50% or more of the combined voting power of Planet Hollywood's then
outstanding securities; or

                           (iv) the stockholders of Planet Hollywood approve a
plan of complete liquidation of Planet Hollywood or an agreement for the sale or
disposition by Planet Hollywood of all or substantially all of Planet
Hollywood's assets (or any transaction having a similar effect).

                  (g) Participant or Grantee Rights. No Participant or Grantee
shall have any claim to be granted any Award under the Plan, and there is no
obligation for uniformity of treatment for Participants or Grantees. Except as
provided specifically herein, a Participant or Grantee or a transferee of an
Award shall have no rights as a stockholder with respect to any shares covered
by any Award until the date of the issuance of a Stock certificate to him for
such shares.

                  (h) Unfunded Status of Awards. The Plan is intended to
constitute an "unfunded" plan for incentive and deferred compensation. With
respect to any payments not yet made to a Participant or Grantee pursuant to an
Award, nothing contained in the Plan or any Award shall give any such
Participant or Grantee any rights that are greater than those of a general
creditor of the Company.

                                 Page 16 of 17
<PAGE>

                  (i) No Fractional Shares. No fractional shares of Stock shall
be issued or delivered pursuant to the Plan or any Award. The Committee shall
determine whether cash, other Awards, or other property shall be issued or paid
in lieu of such fractional shares or whether such fractional shares or any
rights thereto shall be forfeited or otherwise eliminated.

                  (j) Governing Law. The Plan and all determinations made and
actions taken pursuant hereto shall be governed by the laws of the State of
Delaware without giving effect to the conflict or choice of law rule or
principle that might otherwise refer construction or interpretation of the Plan
to the substantive law of another jurisdiction.

                  (k) Effective Date. The Plan shall take effect upon the
"Effective Date" of the Plan of Reorganization (as such term is defined
therein).

                  (l) Beneficiary. A Participant or Grantee may file with the
Committee a written designation of a beneficiary on such form as may be
prescribed by the Committee and may, from time to time, amend or revoke such
designation. If no designated beneficiary survives the Participant or Grantee,
the executor or administrator of the Participant's or Grantee's estate shall be
deemed to be such Participant's or Grantee's beneficiary.

                  (m) Interpretation. The Plan is designed and intended to
comply with Rule 16b-3 and all provisions hereof shall be construed in a manner
to so comply.

                                 Page 17 of 17

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