Document:

PLACEMENT AGENT AGREEMENT

 

Dated as of: March 11,
2010          

 

Hollywood Burger Holdings, Inc.

135 Fifth Avenue, 10th Floor

New York, New York 10010

 

Ladies and Gentlemen:

 

Hollywood Burger Holdings,
Inc., a Delaware corporation (the “Company”), hereby agrees with DPEC Capital, Inc., a Delaware corporation (the “Placement
Agent”), as follows:

 

1.            Offering.

 

A.           The
Company hereby engages the Placement Agent to act as its exclusive placement agent in connection with the issuance and sale by
the Company of up to 10,000,000 shares of its common stock, $.01 per share par value (the “Shares”), at a price of
$.125 per share (the “Offering” or “Seed Round”). A sale of 8,000,000 Shares (plus up to an additional
2,000,000 Shares which the Company reserves the right to issue on the same terms provided herein) shall be referred to as the “Maximum
Offering”.

 

B.           The
Shares will be offered pursuant to the terms and conditions set forth in a Subscription Agreement prepared by the Company (such
Subscription Agreement, together with all amendments thereof and supplements and exhibits thereto, are referred to herein as the
“Offering Documents”). The Subscription Agreement is to be executed by each purchaser and the Company at each Closing
(as defined in Section 1(C) hereof) (collectively, the “Subscription Agreements”).

 

C. (1) The Shares will
be offered by the Placement Agent on a “best efforts” basis up to the amount of the Maximum Offering. Subject to the
conditions set forth in Section 8 hereof, if subscriptions have been received prior to the Termination Date (as defined below)
and are accepted by the Company, a closing under this Agreement (the “Initial Closing”) shall be held at the offices
of the Placement Agent, or such other place as the parties may agree, as soon as practicable following the date upon which the
Placement Agent and the Company confirm in writing to each other that subscriptions have been accepted, or at such other place,
time, or date as the Company and the Placement Agent shall agree upon.

 

(2) At any time prior
to the Termination Date, if subscriptions for the sale of up to the Maximum Offering amount are received and accepted by the Company,
one or more closings (each, an “Additional Closing”) shall take place in the manner herein set forth with respect to
the Initial Closing. In the event that an Additional Closing has not taken place for any subscription received and accepted on
or prior to the Termination Date (as may be extended), a final closing (“Final Closing”) shall be held on such date
for the Shares which are the subject of such subscriptions. References herein to a “Closing” shall mean the Initial
Closing, any Additional Closing or the Final Closing, as the context requires, and the date thereof shall be referred to as a “Closing
Date.”

 

    	 

    	 

    

 

D.           The
Offering will terminate on the earlier of the sale of all Shares available under a Maximum Offering or on such date as is agreed
upon by the Company and the Placement Agent, but not later than July 15, 2010 (such date is hereinafter referred to as the “Termination
Date”; the period commencing on the date hereof and ending on the Termination Date is sometimes referred to herein as the
“Offering Period”).

 

2.            Information.

 

A.           Payment
for the Shares shall be made by wire transfer or by check as more fully described in the Subscription Agreements. The Placement
Agent and the Company agree that the Shares will be offered and sold only to “accredited investors” within the meaning
of Rule 501 of Regulation D (“Accredited Investors”) promulgated by the Securities and Exchange Commission (the “Commission”)
under the Securities Act and Rule 506 of Regulation D of the Securities Act.

 

B.           The
Company and the Placement Agent each reserve the right to reject any subscriber, in whole or in part, in each of their sole discretion.
Notwithstanding anything to the contrary contained in this Section 2(C), the Company’s right to reject a subscriber shall
lapse three business days after receipt by the Company of the fully completed and duly executed subscription documents from the
Placement Agent with respect to such subscriber (unless it is determined subsequent to such period that such subscriber does not
meet the investor suitability requirements of the Offering). Funds received from any subscriber whose subscription is rejected
will be returned to such subscriber, without deduction therefrom or interest thereon, but no sooner than such funds have cleared
the banking system in the normal course of business.

 

D.           Upon
the Company’s acceptance of subscriptions, the placement agent commission equal to ten percent (10%) of the gross proceeds
from the sale of the Shares shall be remitted to the Placement Agent, together with a non-accountable expense fee equal to 3% of
the total subscription amount. Promptly after the Final Closing, the Company also shall issue to the Placement Agent, or its designees,
warrants to purchase 10% of the number of Shares which the Placement Agent placed pursuant to this Agreement (the “Placement
Agent Warrants”).

 

E.           The
Shares will be offered without registration under the Securities Act of 1933, as amended (the “Securities Act”).

 

3.            Representations,
Warranties and Covenants of the Placement Agent.

 

The Placement Agent
represents, warrants and covenants as follows:

 

A.           The
Placement Agent has the necessary power to enter into this Agreement and to consummate the transactions contemplated hereby and
thereby.

 

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B.           The
execution and delivery by the Placement Agent of this Agreement, and the consummation of the transactions contemplated herein and
therein, will not result in any violation of, or be in conflict with, or constitute a default under, any agreement or instrument
to which the Placement Agent is a party or by which the Placement Agent or its properties are bound, or any judgment, decree, order
or, to the Placement Agent’s knowledge, any statute, rule or regulation applicable to the Placement Agent. Assuming the due
authorization, execution, delivery and performance by the Company, this Agreement, when executed and delivered by the Placement
Agent, will constitute a legal, valid and binding obligation of the Placement Agent, enforceable in accordance with its respective
terms, except to the extent that (i) the enforceability hereof or thereof may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws from time to time in effect and affecting the rights of creditors generally, (ii) the enforceability
hereof or thereof is subject to general principles of equity, and (iii) the indemnification provisions hereof or thereof may be
held to be violative of public policy.

 

C.           The
Placement Agent will deliver to each purchaser of Shares, prior to any submission by such person of a written offer relating to
the purchase of the Shares, a copy of the Offering Documents as they may have been most recently amended or supplemented by the
Company.

 

D.           The
Placement Agent will not deliver the Offering Documents to any person it does not reasonably believe to be an Accredited Investor.

 

E.           The
Placement Agent (i) will not intentionally take any action which it reasonably believes would cause the Offering to violate the
provisions of the Securities Act, the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the respective
rules and regulations promulgated thereunder (the “Rules and Regulations”), or applicable Blue Sky laws of any state
or jurisdiction, and (ii) will comply with Rule 502(c) of Regulation D under the Securities Act.

 

F.           The
Placement Agent shall use all reasonable efforts to determine whether any prospective purchaser is a qualified Accredited Investor.
The Placement Agent shall have no obligation to insure that (i) any check, note, draft or other means of payment for the Shares
will be honored, paid or enforceable against the subscriber in accordance with its terms, or (ii) subject to the performance of
the Placement Agent’s obligations and the accuracy of the Placement Agent’s representations and warranties hereunder,
(a) the Offering is exempt from the registration requirements of the Securities Act or any applicable state “Blue Sky”
law, or (b) any prospective purchaser is a qualified Accredited Investor.

 

G.           The
Placement Agent is a member of the Financial Industry Regulatory Authority, and is a broker-dealer registered as such under the
Exchange Act and under the securities laws of the states in which the Shares will be offered or sold by the Placement Agent, unless
an exemption for such state registration is available to the Placement Agent. The Placement Agent is in material compliance with
all material rules and regulations applicable to the Placement Agent generally and applicable to the Placement Agent’s participation
in the Offering.

 

4.            Representations
and Warranties of the Company.

 

The Company hereby
represents and warrants as follows:

 

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A.           The
execution, delivery and performance of this Agreement, the Subscription Agreements and the Placement Agent Warrant Agreement (the
“Warrant Agreement”) (to be executed as of the date of this Agreement) have been or will be, upon execution by the
Company, duly and validly authorized by the Company, and will be, upon execution by the Company, valid and binding agreements of
the Company, enforceable in accordance with their respective terms, except to the extent that (i) the enforceability hereof or
thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws from time to time in effect and affecting
the rights of creditors generally, (ii) the enforceability hereof or thereof is subject to general principles of equity, or (iii)
the indemnification provisions hereof or thereof may be held to be violative of public policy. The Shares and the Placement Agent
Warrants have been duly authorized and, when issued and paid for in accordance with this Agreement, the Offering Documents, the
Subscription Agreements and the Warrant Agreement, as the case may be, the certificates or other instruments representing each
of such Shares and the Placement Agent Warrants will be valid and binding obligations of the Company, enforceable in accordance
with their respective terms, except to the extent that (i) the enforceability thereof may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar laws from time to time in effect and affecting the rights of creditors generally, and (ii)
the enforceability thereof is subject to general principles of equity. All corporate action required to be taken for the authorization,
issuance and sale of the Shares and the Placement Agent Warrants have been duly and validly taken by the Company.

 

B.           The
authorized capital stock of the Company consists of 100,000,000 shares of Common Stock, par value $.01 per share. Of this total,
as of the commencement of the Seed Round, 40,000,000 Shares are issued and outstanding, and there are no shares that have been
issued but which are held in treasury. There are no shares of preferred stock outstanding. As of the date hereof, the Company does
not have any shares of Common Stock reserved for issuance upon the exercise of stock options, equity incentives and warrants. All
of the issued and outstanding Shares of the capital stock of the Company are, and all shares of Common Stock reserved for issuance
will be, upon issuance in accordance with the terms specified in the instruments or agreements pursuant to which they are issuable,
duly authorized, validly issued, fully paid, and non-assessable.

 

C.           The
Company has been duly incorporated and is validly existing and in good standing under the laws of the State of Delaware, with full
corporate power and authority to own, lease and operate its properties and to conduct its business as currently conducted, and
is duly registered or qualified to conduct its business and is in good standing in each jurisdiction or place where the nature
of its properties or the conduct of its business requires such registration or qualification, except where the failure to register
or qualify would not have a material adverse effect on the condition (financial or other), business, properties, net worth or results
of operations of the Company and its subsidiaries, taken as a whole (“Material Adverse Effect”).

 

D.           The
Shares and the Placement Agent Warrants, when issued, sold and delivered in accordance with the terms of the Subscription Agreements,
the Warrant Agreement and this Agreement, for the consideration expressed herein, will be duly authorized and validly issued, will
not be subject to any pre-emptive or similar right and will be free of restrictions on transfer other than restrictions on transfer
under applicable securities laws. The execution and delivery of this Agreement, the Warrant Agreement and the Subscription Agreements,
the issuance of the Shares and the Placement Agent Warrants, and the consummation of the transactions contemplated hereby and thereby
by the Company, have been duly and validly approved by all requisite corporate action, do not contravene any provisions of law
or any order of any court or agreement or other instrument by which it is bound or by which any of its assets are affected (including,
but not limited to, its charter and by-laws), or violate any judgment, order, injunction, statute or regulation applicable to it.
No consent, waiver (including, without limitation, of any right of first refusal), approval or authorization of, or registration
or qualification with, any person, bank or lender, corporation, association, governmental body or court, is required for the Company
to enter into this Agreement, the Warrant Agreement or the Subscription Agreements, to issue the Shares or the Placement Agent
Warrants, or to consummate the transactions contemplated hereby or thereby that has not been obtained, except such filings as may
be required pursuant to exemptions from registration under federal and state “Blue Sky” securities laws.

 

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E.           The
Company has good and marketable title to, or valid and enforceable leasehold estates in, all items of real and personal property
necessary to conduct its business, free and clear of all liens, encumbrances, claims, security interests and defects of any material
nature whatsoever, other than liens for taxes not yet due and payable.

 

F.           There
is no action, suit or proceeding before or by any court or governmental agency or body, domestic or foreign, now pending or, to
the actual knowledge of the Company (without inquiry), threatened, against or affecting the Company, or any of its properties,
which would reasonably be anticipated to result in a Material Adverse Effect.

 

G.           The
Company has: (i) duly and timely filed all tax returns required to be filed by the Company under applicable law that include or
relate to the Company, its income, assets, payroll, operations or business, which tax returns, to the best of the Company’s
knowledge, are true, correct and complete in all material respects, and (ii) duly and timely paid, in full, all taxes which are
currently due and payable and for which the Company is liable, except, in each case, where the failure to do so is not reasonably
anticipated to result in a Material Adverse Effect.

 

H.           The
Company: (i) is not in default under any material agreement, lease, license, contract or commitment, whether oral or written, including,
without limitation, those with employees and consultants (“Material Agreements”) to which the Company is a party or
by which any of its material assets are bound, and there is no event known to the Company that, with notice, or lapse of time,
or both, would constitute a default by any party to any Material Agreement or give them any right to terminate or modify any of
the same, and (ii) has not received notice that any party to any Material Agreement intends to cancel or terminate any Material
Agreement or not to exercise any renewal or extension options under any Material Agreement. The Company is not in violation of
any provision of its charter or by-laws or, to its knowledge, in violation of any franchise, license, permit, judgment, decree
or order, or, to its knowledge, in violation of any statute, rule or regulation. Neither the execution and delivery of this Agreement,
the Warrant Agreement or the Subscription Agreements, nor the issuance and sale or delivery of the Shares or the Placement Agent
Warrants, nor the consummation of any of the transactions contemplated herein or in the Warrant Agreement or the Subscription Agreements,
nor the compliance by the Company with the terms and provisions hereof or thereof, as the case may be, has conflicted with or will
conflict with, or has resulted in or will result in a breach of, any of the terms and provisions of, or has constituted or will
constitute a default under, or has resulted in or will result in the creation or imposition of any lien, charge or encumbrance
upon any property or assets of the Company or pursuant to the terms of any indenture, mortgage, deed of trust, note, loan or credit
agreement or any other agreement or instrument evidencing an obligation for borrowed money, or any other agreement or instrument
to which the Company may be bound or to which any of the property or assets of the Company is subject, except any lien, charge
or encumbrance which could not reasonably be expected to have a Material Adverse Effect; nor will such action result in any violation
of the provisions of the charter or the by-laws of the Company, or (except any which could not reasonably be expected to have a
Material Adverse Effect) of any statute or any order, rule or regulation applicable to the Company of any foreign, federal, state
or other regulatory authority or other government body having jurisdiction over the Company.

 

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I.           The
Company holds, and is in compliance with, all permits, licenses, registrations and authorizations required by it in connection
with the conduct of the business of the Company under all federal, state and local laws, rules and regulations, except where the
failure to be in compliance has not had, and is not reasonably expected to have, a Material Adverse Effect.

 

J.           The
Company maintains insurance policies, including, but not limited to, general liability and property insurance, which insures the
Company and each of its employees against such losses and risks generally insured against by comparable businesses. The Company
(i) has not failed to give notice or present any insurance claim with respect to any matter, including but not limited to the Company’s
business, property or employees, under any insurance policy or surety bond in a due and timely manner, (ii) has no disputes
or claims against any underwriter of such insurance policies or surety bonds nor has failed to pay any premiums due and payable
thereunder, or (iii) has not failed to comply with all conditions contained in such insurance policies and surety bonds. To the
Company’s knowledge, there are no facts or circumstances under any such insurance policy or surety bond which would relieve
any insurer of its obligation to satisfy in full any valid claim of the Company.

 

K.          The
Shares, the Placement Agent Warrants, this Agreement, the Subscription Agreements and the Warrant Agreement conform in all material
respects to all statements in relation thereto contained in the Offering Documents, as applicable.

 

L.           The
Company does not have outstanding obligations to any of its respective officers or directors.

 

M.           There
are no claims for services in the nature of a finder’s or origination fee with respect to the sale of the Shares or any other
arrangements, agreements or understandings that may affect the Placement Agent’s compensation, as determined by the Financial
Industry Regulatory Authority.

 

N.           The
Company owns or possesses, free and clear of all liens or encumbrances and rights thereto or therein by third parties, the requisite
licenses or other rights to use all trademarks, service marks, copyrights, service names, trade names, patents, patent applications
and licenses necessary to conduct its business and there is no claim or action by any person pertaining to, or proceeding, pending
or threatened, which challenges the exclusive rights of the Company with respect to any trademarks, service marks, copyrights,
service names, trade names, patents, patent applications and licenses used in the conduct of the Company’s business. The
Company’s current products, services or processes do not infringe or will not infringe on the patents currently held by any
third party.

 

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O.           The
Company is not under any obligation to pay royalties or fees of any kind whatsoever to any third party with respect to any trademarks,
service marks, copyrights, service names, trade names, patents, patent applications, licenses or technology it has developed, uses,
employs or intends to use or employ, other than to their respective licensors or sublicensors.

 

P.           Subject
to the performance by the Placement Agent of its obligations hereunder and the Offering Documents, the offer and sale of the Shares
comply, and will continue to comply, up to the Termination Date in all material respects, with the requirements of Rule 506 of
Regulation D promulgated by the Commission pursuant to the Securities Act and any other applicable federal and state laws, rules,
regulations and executive orders. Neither the Offering Documents nor any amendment or supplement thereto nor any documents prepared
by the Company in connection with the Offering will contain any untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they
were made, not misleading. All statements of material facts in the Offering Documents are true and correct as of the date of the
Offering Documents and will be true and correct on the date of the Closing.

 

Q.           Neither
the Company, nor any of its officers, directors, employees or agents, nor any other person acting on behalf of the Company, has,
directly or indirectly, given or agreed to give any money, gift or similar benefit (other than legal price concessions to customers
in the ordinary course of business) to any customer, supplier, employee or agent of a customer or supplier, or official or employee
of any governmental agency or instrumentality of any government (domestic or foreign) or any political party or candidate for office
(domestic or foreign) or other person who is or may be in a position to help or hinder the business of the Company (or assist it
in connection with any actual or proposed transaction) which (i) might subject the Company to any damage or penalty in any civil,
criminal or governmental litigation or proceeding, or (ii) if not given in the past, might have had a Material Adverse Effect on
the assets, business or operations of the Company, as reflected in any of the financial statements contained in the Offering Documents,
or (iii) if not continued in the future, might have a Material Adverse Effect on the assets, business, operations or prospects
of the Company in the future.

 

R.           The
Company does not believe it is required to register as an “investment company” within the meaning of such term under
the Investment Company Act of 1940, as amended, and the rules and regulations of the Commission thereunder.

 

S.           The
Company maintains a system of internal accounting controls sufficient to provide reasonable assurances that (i) transactions are
executed in accordance with management’s general or specific authorization, (ii) transactions are recorded as necessary to
permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability
for assets, (iii) access to assets is permitted only in accordance with management’s general or specific authorization, and
(iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is
taken with respect to any differences.

 

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5.            Certain
Covenants and Agreements of the Company.

 

The Company covenants
and agrees at its expense and without any expense to the Placement Agent as follows:

 

A.           To
advise the Placement Agent of any adverse change in the Company’s financial condition, prospects or business or of any development
materially affecting the Company or rendering untrue or misleading any material statement in the Offering Documents occurring at
any time prior to the Closing as soon as the Company is either informed or becomes aware thereof.

 

B.           To
use its best efforts to cause the sale of the Shares to be qualified or registered for sale, or to obtain exemptions from such
qualification or registration requirements, under the securities laws of such jurisdictions as the Placement Agent shall reasonably
request; provided that such states and jurisdictions do not require the Company to qualify as a foreign corporation. Qualification,
registration and exemption charges and fees shall be at the sole cost and expense of the Company. The Company’s counsel shall
perform the required “Blue Sky” service.

 

C.           Unless
the Company is at the time a reporting company under the Exchange Act and has filed any of the following information pursuant to
its obligations thereunder, to provide to the Placement Agent for five years from the Termination Date, or until the termination
or dissolution of the Company, whichever shall come first, copies of all quarterly and audited annual financial statements prepared
by or on behalf of the Company.

 

D.           To
apply the proceeds of the Offering in accordance with the stated purposes set forth in the Offering Documents.

 

E.           
To provide the Placement Agent with as many copies of the Offering Documents as the Placement Agent may reasonably request.

 

F.           To
ensure that any transactions between or among the Company and any of its respective affiliates be on terms and conditions that
are no less favorable to the Company, than the terms and conditions that would be available in an “arms’ length”
transaction with independent third parties.

 

G.           To
comply with the terms of the Subscription Agreements.

 

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6.            Indemnification.

 

A.           The
Company hereby agrees that it will indemnify and hold the Placement Agent and each officer, director, shareholder, employee, agent,
attorney, accountant or representative of the Placement Agent, and each person controlling, controlled by or under common control
of the Placement Agent within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act or the Rules and
Regulations, harmless from and against any and all loss, claim, damage, liability, cost or expense whatsoever (including, but not
limited to, any and all legal fees, filing fees and other expenses and disbursements incurred in connection with investigating,
preparing to defend or defending any action, suit or proceeding, including any inquiry or investigation, commenced or threatened,
or any claim whatsoever or in appearing or preparing for appearance as a witness in any action, suit or proceeding, including any
inquiry, investigation or pretrial proceeding such as a deposition) to which the Placement Agent or such indemnified person of
the Placement Agent may become subject (1) as a result of claims asserted by third parties related to or arising out of the engagement
of the Placement Agent by the Company pursuant to the terms hereof or in connection therewith, and (2) under the Securities Act,
the Exchange Act, the Rules and Regulations, or any other federal or state law or regulation, common law or otherwise, arising
out of or based upon (i) any untrue statement or alleged untrue statement of a material fact contained in (A) Section 4 and
Section 5 of this Agreement, (B) the Offering Documents (except those written statements relating to the Placement Agent given
by an indemnified person for inclusion therein), (C) any application or other document or written communication executed by the
Company or based upon written information furnished by the Company filed in any jurisdiction in order to qualify the Shares under
the securities laws thereof, or any state securities commission or agency, (ii) the omission or alleged omission from documents
described in clauses (A), (B) or (C) above of a material fact required to be stated therein or necessary to make the statements
therein not misleading, or (iii) the breach of any material representation, warranty, covenant or agreement made by the Company
in this Agreement. The Company further agrees that upon demand by an indemnified person, at any time or from time to time, it will
promptly reimburse such indemnified person for any loss, claim, damage, liability, cost or expense actually and reasonably paid
by the indemnified person as to which the Company has indemnified such person pursuant hereto. Notwithstanding the foregoing provisions
of this Paragraph 6(A), any such payment or reimbursement by the Company of fees, expenses or disbursements incurred by an indemnified
person in any proceeding in which a final judgment by a court of competent jurisdiction (after all appeals or the expiration of
time to appeal) is entered against the Placement Agent or such indemnified person as a direct result of the Placement Agent or
such person’s gross negligence or willful misfeasance will be promptly repaid to the Company.

 

B.           The
Placement Agent hereby agrees that it will indemnify and hold the Company and each officer, director, shareholder, employee, agent,
attorney, accountant or representative of the Company, and each person controlling, controlled by or under common control with
the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act or the Rules and Regulations,
harmless from and against any and all loss, claim, damage, liability, cost or expense whatsoever (including, but not limited to,
any and all reasonable legal fees, filing fees and other expenses and disbursements incurred in connection with investigating,
preparing to defend or defending any action, suit or proceeding, including any inquiry or investigation, commenced or threatened,
or any claim whatsoever or in appearing or preparing for appearance as a witness in any action, suit or proceeding, including any
inquiry, investigation or pretrial proceeding such as a deposition) to which the Company or such indemnified person of the Company
may become subject under the Securities Act, the Exchange Act, the Rules and Regulations, or any other federal or state law or
regulation, common law or otherwise, arising out of or based upon (i) the conduct of the Placement Agent or its officers, employees
or representatives in its acting as placement agent for the Offering, (ii) the breach of any material representation, warranty,
covenant or agreement made by the Placement Agent in this Agreement, (iii) information in the Offering Documents relating to the
Placement Agent prepared by the Placement Agent or any of its representatives for inclusion therein or (iv) the omission, or alleged
omission, in the Offering Documents of a material fact required to be stated therein or necessary to make the statements therein
not misleading information, in each case solely as such omission or alleged omission relate to the Placement Agent.

 

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C.           Promptly
after receipt by an indemnified party of notice of commencement of any action covered by Section 6(A) or 6(B), the party to be
indemnified shall, within ten (10) business days, notify the indemnifying party of the commencement thereof; provided, however,
that the omission by one indemnified party to so notify the indemnifying party shall not relieve the indemnifying party of its
obligation to indemnify any other indemnified party that has given such notice and, provided further, shall not relieve the indemnifying
party of any liability outside of this indemnification if not prejudiced thereby. In the event that any action is brought against
the indemnified party, the indemnifying party will be entitled to participate therein and, to the extent it may desire, to assume
and control the defense thereof with counsel chosen by it which is reasonably acceptable to the indemnified party. After notice
from the indemnifying party to such indemnified party of its election to so assume the defense thereof, the indemnifying party
will not be liable to such indemnified party under such Section 6(A) or 6(B) for any legal or other expenses subsequently incurred
by such indemnified party in connection with the defense thereof, but the indemnified party may, at its own expense, participate
in such defense by counsel chosen by it, without, however, impairing the indemnifying party’s control of the defense. Subject
to the proviso of this sentence and notwithstanding any other statement to the contrary contained herein, the indemnified party
or parties shall have the right to choose its or their own counsel and control the defense of any action, all at the expense of
the indemnifying party if, (i) the employment of such counsel shall have been authorized in writing by the indemnifying party in
connection with the defense of such action at the expense of the indemnifying party, or (ii) the indemnifying party shall not have
employed counsel reasonably satisfactory to such indemnified party to have charge of the defense of such action within a reasonable
time after notice of commencement of the action, or (iii) such indemnified party or parties shall have reasonably concluded that
there may be defenses available to it or them which are different from or additional to those available to one or all of the indemnifying
parties and a conflict of interest exists as a result (in which case the indemnifying parties shall not have the right to direct
the defense of such action on behalf of the indemnified party or parties), in any of which events the reasonable fees and expenses
of one additional counsel reasonably satisfactory to the indemnifying party shall be borne by the indemnifying party; provided,
however, that the indemnifying party shall not, in connection with any one action or separate but substantially similar or related
actions in the same jurisdiction arising out of the same general allegations or circumstance, be liable for the reasonable fees
and expenses of more than one separate firm of attorneys at any time for all such indemnified parties. No settlement of any action
or proceeding against an indemnified party shall be made without the consent of the indemnifying party.

 

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D.           In
order to provide for just and equitable contribution in circumstances in which the indemnification provided for in Section 6(A)
or 6(B) is due in accordance with its terms but is for any reason held by a court to be unavailable on grounds of policy or otherwise,
the Company and the Placement Agent shall contribute to the aggregate losses, claims, damages and liabilities (including legal
or other expenses reasonably incurred in connection with the investigation or defense of same) which the other may incur in such
proportion so that the Placement Agent shall be responsible for such percent of the aggregate of such losses, claims, damages and
liabilities as shall equal the percentage of the gross proceeds paid to the Placement Agent and the Company shall be responsible
for the balance; provided, however, that 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.
For purposes of this Section 6(D), any person controlling, controlled by or under common control with the Placement Agent, or any
partner, director, officer, employee, representative or any agent of any thereof, shall have the same rights to contribution as
the Placement Agent and each person controlling, controlled by or under common control with the Company within the meaning of Section
15 of the Securities Act or Section 20 of the Exchange Act and each officer of the Company and each director of the Company shall
have the same rights to contribution as the Company. Any party entitled to contribution will, promptly after receipt of notice
of commencement of any action, suit or proceeding against such party in respect of which a claim for contribution may be made against
the other party under this Section 6(D), notify such party from whom contribution may be sought, but the omission to so notify
such party shall not relieve the party from whom contribution may be sought from any obligation they may have hereunder or otherwise
if the party from whom contribution may be sought is not materially prejudiced thereby. The indemnity and contribution agreements
contained in this Section 6 shall remain operative and in full force and effect regardless of any investigation made by or on behalf
of any indemnified person or any termination of this Agreement.

 

7.            Payment
of Expenses.

 

The Company will pay
all expenses related to the Offering, including, but not limited to, the fees and expenses of its counsel, all expenses incurred
in connection with Blue Sky registrations, all printing and duplication costs related to the Offering Documents, in such quantities
as the Placement Agent reasonably deems necessary, filing fees, escrow agent fees and expenses, and all postage, mailing and express
charges and other expenses in connection with the delivery of copies of the Offering Documents and Subscription Agreements and
the distribution of any Shares, Placement Agent Warrants or other securities after any Closing.

 

8.            Conditions
of the Closings.

 

Each Closing shall
be held at the offices of the Placement Agent or its counsel. The obligations of the Placement Agent hereunder shall be subject
to: (i) the continuing accuracy of the representations and warranties of the Company herein as of the date hereof and as of the
date of the Closing with respect to the Company as if it had been made on and as of such Closing, (ii) the accuracy on and as of
each Closing of the statements of the officers made pursuant to the provisions hereof, and (iii) the performance by the Company
on and as of the Closing of its covenants and obligations hereunder including at or prior to each Closing, the Company shall have
duly executed and delivered the appropriate documentation representing the Shares to the Placement Agent as agent for the respective
purchasers whose subscriptions have been accepted by the Company.

 

    	-11-

    	 

    

 

9.            Termination.

 

This Agreement shall
terminate if the Initial Closing does not take place on or before the seventh (7th) business day following the Termination Date,
as may be extended, or as soon thereafter as the funds received from subscriptions have cleared the banking system in the normal
course of business. Either the Placement Agent or the Company may terminate the Offering in its sole discretion prior to the Initial
Closing. In the event that the Company determines to terminate the Offering from and after the date hereof through the end of the
Offering Period for any reason other than the Placement Agent’s breach of the terms of this Agreement, and the Placement
Agent is willing to proceed, then the Company shall immediately pay to the Placement Agent its actual out-of- pocket expenses,
including but not limited to fees and expenses of its legal counsel and reasonable travel expenses. Upon such termination, all
Subscription Agreements and payments for the Shares not previously delivered to the purchasers thereof, without interest thereon
or deduction therefrom, shall be returned to the respective subscribers, the Placement Agent shall have no further obligation to
the Company, and the Company shall have no obligation to the Placement Agent, except for payment of its actual out-of-pocket expenses
as set forth herein. If the Placement Agent does not or fails to complete the proposed private placement and the reasons therefor
are reasonably related to a material adverse change in the business or financial results, prospects or condition of the Company,
or if the Offering is not completed because of the Company’s actions or failure to take such actions as are reasonably required
hereunder and the Placement Agent is prepared to perform in accordance with the terms herein, then, in any such case, the Company
agrees to promptly pay the Placement Agent its actual out-of-pocket expenses. If the Placement Agent does not or fails to complete
the proposed private placement and the reasons therefor are reasonably related to a material adverse change in market conditions,
the Company agrees to promptly pay the Placement Agent its actual out-of-pocket expenses.

 

10.          Miscellaneous.

 

A.           This
Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all which shall be
deemed to be one and the same instrument.

 

B.           Any
notice required or permitted to be given hereunder shall be given in writing and shall be deemed effective when deposited in the
United States mail, postage prepaid, or when received if personally delivered or faxed, addressed as follows:

 

To the Placement Agent:

 

DPEC Capital, Inc.

135 Fifth Avenue, 10th Floor

New York, New York 10010

Attn.: Mr. Keith Fasano

Fax: (212) 655-0140

 

To the Company:

 

Hollywood Burger Holdings,
Inc.

135 Fifth Avenue,
10th Floor

New York, New York
10010

Attn.: Mr. Scott Mathis

Fax: (212) 655-0141

 

or to such other address of which written
notice is given to the others.

 

    	-12-

    	 

    

 

C.           This
Agreement shall be governed by and construed in all respects under the laws of the State of Delaware, without reference to its
conflict of laws rules or principles. Any suit, action, proceeding or litigation arising out of or relating to this Agreement shall
be brought and prosecuted in such federal or state court or courts located within the State of New York as provided by law. The
parties hereby irrevocably and unconditionally consent to the jurisdiction of each such court or courts located within the State
of New York and to service of process by registered or certified mail, return receipt requested, or by any other manner provided
by applicable law, and hereby irrevocably and unconditionally waive any right to claim that any suit, action, proceeding or litigation
so commenced has been commenced in an inconvenient forum.

 

D.           This
Agreement and the other agreements referenced herein contain the entire understanding between the parties hereto with respect to
this Offering and may not be modified or amended except by a writing duly signed by the party against whom enforcement of the modification
or amendment is sought.

 

E.           If
any provision of this Agreement shall be held to be invalid or unenforceable, such invalidity or unenforceability shall not affect
any other provision of this Agreement.

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date first written above.

 

	DPEC CAPITAL, INC.	 	HOLLYWOOD BURGER HOLDINGS, INC.
	 	 	 	 	 
	By:	/s/ Keith Fasano	 	By:	/s/ Scott L. Mathis
	 	Name: Keith Fasano	 	 	Name: Scott L. Mathis
	 	Title: Director of Compliance	 	 	Title:  President

 

    	-13-

    	 

    

 

EXTENSION OF PLACEMENT AGENT AGREEMENT

DATED MARCH 11, 2010

 

Dated as of: October 8,
2010          

 

Hollywood Burger Holdings, Inc.

135 Fifth Avenue, 10th Floor

New York, New York 10010

 

Ladies and Gentlemen:

 

This shall confirm
that Hollywood Burger Holdings, Inc., a Delaware corporation (the “Company”), hereby agrees with DPEC Capital, Inc.,
a Delaware corporation (the “Placement Agent”), to extend the terms of their Placement Agent Agreement, dated March
11, 2010 (hereinafter the “PAA”), to a second offering being conducted by the Company, commencing in October 2010 (hereinafter,
the “Second Offering”). Except as expressly modified herein, all of the terms and provisions set forth in the PAA shall
apply with respect to the Second Offering. Also, by signing below, the Company and the Placement Agent confirm that all of the
representations made by each party in the PAA remain accurate as of the date of this Extension Agreement.

 

The modifications to
the PAA (referenced below according to the paragraph number used in the PAA) are as follows:

 

1.         The
Relevant Terms of the Second Offering.

 

A.         In
connection with the Second Offering, the Company hereby engages the Placement Agent to act as its exclusive placement agent in
connection with the issuance and sale by the Company of up to 10,000,000 shares of its common stock, $.01 per share par value (the
“Shares”), at a price of $.50 per share. A sale of up to 10,000,000 Shares (plus up to an additional 3,000,000 Shares
which the Company reserves the right to issue on the same terms provided herein) shall be referred to as the “Maximum Offering”.

 

D.         The
Offering will terminate on the earlier of the sale of all Shares available under a Maximum Offering or on such date as is agreed
upon by the Company and the Placement Agent, but not later than July 8, 2010 (such date is hereinafter referred to as the “Termination
Date”; the period commencing on the date hereof and ending on the Termination Date is sometimes referred to herein as the
“Offering Period”).

 

2.         Representations
and Warranties of the Company.

 

The Company
hereby represents and warrants as follows:

 

    	 

    	 

    

 

B.         The
authorized capital stock of the Company consists of 100,000,000 shares of Common Stock, par value $.01 per share. Of this total,
as of the commencement of the Seed Round, 49,353,200 Shares are issued and outstanding, and there are no shares that have been
issued but which are held in treasury. There are no shares of preferred stock outstanding. As of the date hereof, the Company has
6,000,000 shares of Common Stock reserved for issuance upon the exercise of stock options, equity incentives and warrants. All
of the issued and outstanding Shares of the capital stock of the Company are, and all shares of Common Stock reserved for issuance
will be, upon issuance in accordance with the terms specified in the instruments or agreements pursuant to which they are issuable,
duly authorized, validly issued, fully paid, and non-assessable.

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date first written above.

 

	DPEC CAPITAL, INC.	 	HOLLYWOOD BURGER HOLDINGS, INC.
	 	 	 	 	 
	By:	/s/ Keith Fasano	 	By:	/s/ Scott L. Mathis
	 	Name: Keith Fasano	 	 	Name: Scott L. Mathis
	 	Title:   Director of Compliance	 	 	Title:  President

  

    	-2-

    	 

    

 

SECOND EXTENSION OF PLACEMENT AGENT AGREEMENT

DATED MARCH 11, 2010

 

Dated as of: July 8, 2011          

 

Hollywood Burger Holdings, Inc.

135 Fifth Avenue, 10th Floor

New York, New York 10010

 

Ladies and Gentlemen:

 

This shall confirm
that Hollywood Burger Holdings, Inc., a Delaware corporation (the “Company”), hereby agrees with DPEC Capital, Inc.,
a Delaware corporation (the “Placement Agent”), to extend the terms of their Placement Agent Agreement, dated March
11, 2010 (hereinafter the “PAA”), as previously modified and extended on October 8, 2010 (the “Initial Extension”).
Except as expressly modified herein, all of the terms and provisions set forth in the PAA and Initial Extension shall remain in
full force and effect, and all capitalized terms used therein shall have the same meanings herein.

 

The sole modification
to the PAA is as follows: The Termination Date of the Offering is hereby extended to September 8, 2011.

 

By signing below, the
Company and the Placement Agent confirm that all of the representations made by each party in the PAA remain accurate as of the
date of this Second Extension Agreement.

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date first written above.

 

	DPEC CAPITAL, INC.	 	HOLLYWOOD BURGER HOLDINGS, INC.
	 	 	 	 	 
	By:	/s/ Keith Fasano	 	By:	/s/ Scott L. Mathis
	 	Name: Keith Fasano	 	 	Name: Scott L. Mathis
	 	Title: Director of Compliance	 	 	Title:  President

 

    	 

    	 

    

 

THIRD EXTENSION OF PLACEMENT AGENT AGREEMENT

DATED MARCH 11, 2010

 

Dated as of: September
7, 2011          

 

Hollywood Burger Holdings, Inc.

135 Fifth Avenue, 10th Floor

New York, New York 10010

 

Ladies and Gentlemen:

 

This shall confirm
that Hollywood Burger Holdings, Inc., a Delaware corporation (the “Company”), hereby agrees with DPEC Capital, Inc.,
a Delaware corporation (the “Placement Agent”), to extend the terms of their Placement Agent Agreement, dated March
11, 2010 (hereinafter the “PAA”), as previously modified and extended on October 8, 2010 (the “Initial Extension”)
and on July 8, 2011 (the “Second Extension”). Except as expressly modified herein, all of the terms and provisions
set forth in the PAA and Initial and Second Extensions shall remain in full force and effect, and all capitalized terms used therein
shall have the same meanings herein.

 

The sole modification
to the PAA is as follows: The Termination Date of the Offering is hereby extended to December 31, 2011.

 

By signing below, the
Company and the Placement Agent confirm that all of the representations made by each party in the PAA remain accurate as of the
date of this Third Extension Agreement.

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date first written above.

 

	DPEC CAPITAL, INC.	 	HOLLYWOOD BURGER HOLDINGS, INC.
	 	 	 	 	 
	By:	/s/ Keith Fasano	 	By:	/s/ Scott L. Mathis
	 	Name: Keith Fasano	 	 	Name: Scott L. Mathis
	 	Title: Director of Compliance	 	 	Title: President

 

    	 

    	 

    

 

FOURTH EXTENSION OF PLACEMENT AGENT AGREEMENT

(INITIALLY DATED MARCH 11, 2010)

 

Dated as of: March 21,
2012          

 

Hollywood Burger Holdings, Inc.

135 Fifth Avenue, 10th Floor

New York, New York 10010

 

Ladies and Gentlemen:

 

This shall confirm
that Hollywood Burger Holdings, Inc., a Delaware corporation (the “Company”), hereby agrees with DPEC Capital, Inc.,
a Delaware corporation (the “Placement Agent”), to extend the terms of their Placement Agent Agreement, dated March
11, 2010 (hereinafter the “PAA”), as previously modified and extended on October 8, 2010 (the “Initial Extension”),
on July 8, 2011 (the “Second Extension”), and as of September 7, 2011 (the “Third Extension”), to a third
offering being conducted by the Company, commencing in March 2012 (hereinafter, the “Third Offering”). Except as expressly
modified herein, all of the terms and provisions set forth in the PAA and Initial, Second and Third Extensions shall remain in
full force and effect, and all capitalized terms used therein shall have the same meanings herein.

 

The modifications to the PAA, as previously
extended, are as follows, numbered to correlate to the paragraph of the PAA being modified hereby:

 

		1.	The Relevant Terms of the Third Offering.

 

A.         In
connection with the Third Offering, the Company hereby engages the Placement Agent to act as its exclusive placement agent in connection
with the issuance and sale by the Company of up to 6,000,000 shares of its common stock, $.01 per share par value (the “Shares”),
at a price of $.75 per share. A sale of up to 6,000,000 Shares (plus up to an additional 1,800,000 Shares which the Company reserves
the right to issue on the same terms provided herein) shall be referred to as the “Maximum Offering”.

 

D.         The
Offering will terminate on the earlier of the sale of all Shares available under the Maximum Offering or on such date as is agreed
upon by the Company and the Placement Agent, but not later than September 19, 2012 (such date is hereinafter referred to as the
“Termination Date”; the period commencing on the date hereof and ending on the Termination Date is sometimes referred
to herein as the “Offering Period”). Notwithstanding the foregoing, the Company and the Placement Agent may jointly
agree to extend the Termination Date.

 

		2.	Representations and Warranties of the Company.

 

The Company hereby represents and warrants
as follows:

 

    	 

    	 

    

 

B.         The
authorized capital stock of the Company consists of 100,000,000 shares of Common Stock, par value $.01 per share. Of this total,
as of the commencement of the Third Offering, 59,353,200 Shares are issued and outstanding, and there are no shares that have been
issued but which are held in treasury. There are no shares of preferred stock outstanding. As of the date hereof, the Company has
12,500,000 shares of Common Stock reserved for issuance upon the exercise of stock options, equity incentives and warrants. All
of the issued and outstanding Shares of the capital stock of the Company are, and all shares of Common Stock reserved for issuance
will be, upon issuance in accordance with the terms specified in the instruments or agreements pursuant to which they are issuable,
duly authorized, validly issued, fully paid, and non-assessable.

 

By signing below, the
Company and the Placement Agent confirm that all of the representations made by each party in the PAA remain accurate as of the
date of this Fourth Extension Agreement.

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date first written above.

 

	DPEC CAPITAL, INC.	 	HOLLYWOOD BURGER HOLDINGS, INC.
	 	 	 	 	 
	By:	/s/ Keith Fasano	 	By:	/s/ Scott L. Mathis
	 	Name: Keith Fasano	 	 	Name: Scott L. Mathis
	 	Title: Director of Compliance	 	 	Title:  President

 

    	-2-HOLLYWOOD BURGER HOLDINGS, INC.

 

AND

 

DPEC CAPITAL, INC.

 

WARRANT AGREEMENT

 

Dated as of March 11, 2010

 

    	 

    	 

    

 

WARRANT AGREEMENT
dated as of March 11, 2010 between HOLLYWOOD BURGER HOLDINGS, INC., a Delaware corporation (the “Company”),
and DPEC CAPITAL, INC. (the “Placement Agent”) and its assignees or designees (each hereinafter sometimes
referred to with the Placement Agent as a “Holder” or the “Holder(s)”).

 

WITNESSETH:

 

WHEREAS,
the Placement Agent has agreed to act as the placement agent in connection with the Company’s proposed private placement
of up to 8,000,000 shares (the “Offering”) of common stock of the Company, $.01 par value per share (the “Common
Stock”) (plus up to an additional 2,000,000 shares on the same terms), at an offering price of $.125 per share;

 

WHEREAS,
the Company has agreed to issue warrants to the Placement Agent (the “Warrants”) to purchase ten percent (10%) of the
aggregate number of shares of Common Stock sold by the Placement Agent in the Offering, or up to 1,000,000 shares of Common Stock;

 

WHEREAS,
as the Offering is being conducted on a “best efforts basis”;

 

WHEREAS,
the Offering may have multiple closings (each, a “Closing”) and Warrants will be issued to the Placement Agent on the
date of each Closing in consideration for, and as part of, the Placement Agent’s compensation for serving as Placement Agent;
and

 

WHEREAS,
the terms and conditions of the Warrants to be issued are set forth in this Agreement.

 

NOW, THEREFORE,
in consideration of the premises, the agreements herein 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.          Grant.
The Company agrees to grant to the Placement Agent Warrants to purchase such number of shares which are equal to ten percent (10%)
of the aggregate number of shares of Common Stock sold by the Placement Agent as of such Closing Date at an initial exercise price
of $.125 per share (the “Exercise Price”). The Warrants shall be exercisable at any time from the date of grant (which
shall be the date of each Closing (each, a “Closing Date”)) until 5:30 p.m., New York time, on the fifth anniversary
of each Closing Date. The number of shares subject to the Warrants granted hereunder and the Exercise Price shall be subject to
adjustment as provided in Section 10 hereof. In the event of multiple closings in any calendar quarter, the parties agree that
the Warrants for each of such Closings may be combined and issued and dated as of the last day of the calendar quarter.

 

2.          Warrant
Certificates. The warrant certificates (the “Warrant Certificates”) delivered and to be delivered pursuant to this
Agreement shall be in the form set forth in Exhibit A attached hereto and made a part hereof, with such appropriate insertions,
omissions, substitutions, and other variations as required or permitted by this Agreement.

 

3.          Registration
of Warrants. The Warrants shall be numbered and shall be registered on the books of the Company when issued.

 

4.          Exercise
of Warrants.

 

4.1        Method
of Exercise. The Warrants initially are exercisable at the Exercise Price (subject to adjustment as provided in Section 10
hereof) as set forth in Section 7 hereof payable by certified or official bank check in New York Clearing House funds. Upon surrender
of a Warrant Certificate with the annexed Form of Election to Purchase duly executed, together with payment of the Exercise Price
for the shares of Common Stock purchased, at the Company’s principal offices (presently located at 135 Fifth Avenue, 10th
Floor, New York, New York 10010), the Holder(s) (which shall include either the Placement Agent or, in the event one or more Warrant
Certificates have been assigned pursuant to the Form of Assignment attached hereto, the assignee or designee), shall be entitled
to receive a certificate or certificates for the shares of Common Stock so purchased. The purchase rights represented by each Warrant
Certificate are exercisable at the option of the Holder thereof, in whole or in part (but not as to fractional shares of Common
Stock underlying the Warrants). In the case of the purchase of less than all of the shares of Common Stock purchasable under any
Warrant Certificate, the Company shall cancel said Warrant Certificate upon the surrender thereof and shall execute and deliver
a new Warrant Certificate of like tenor for the balance of the shares of Common Stock purchasable thereunder.

 

    	 

    	 

    

 

4.2        Exercise
by Surrender of Warrants. In addition to the method of payment set forth in Section 4.1 and in lieu of any cash payment required
thereunder, the Holder(s) of the Warrants shall have the right at any time and from time to time to exercise the Warrants in full
or in part by surrendering the Warrant Certificate in the manner specified in Section 4.1 in exchange for the number of shares
of Common Stock equal to the product of (x) the number of shares of Common Stock as to which the Warrants are being exercised,
multiplied by (y) a fraction, the numerator of which is the Market Price (as hereinafter defined) per share of Common Stock minus
the Exercise Price of the shares of Common Stock and the denominator of which is the Market Price per share of Common Stock. As
used in this Agreement, the phrase “Market Price” on any date shall be deemed to be the last reported sale price, or,
in case no such reported sale takes place on such day, the average of the last reported sale prices for the last three trading
days, in either case as officially reported by the principal securities exchange on which the Common Stock is listed or admitted
to trading, or, if the Common Stock is not listed or admitted to trading on any exchange, the average closing sale price as furnished
through the NASDAQ Stock Market, Inc. (“NASDAQ”) or similar organization if NASDAQ is no longer reporting such information,
or if the Common Stock is not quoted on NASDAQ, as determined in good faith by resolution of the Board of Directors of the Company,
based on the best information available to it. Solely for the purposes of this Section 4.2, Market Price shall be calculated either
(i) on the date on which the Form of Election attached hereto is deemed to have been sent to the Company pursuant to Section 15
hereof (“Notice Date”) or (ii) as the average of the Market Price for each of the five trading days immediately preceding
the Notice Date, whichever of (i) or (ii) results in a greater Market Price.

 

    	 

    	 

    

 

5.          Issuance
of Certificates. Upon the exercise of any Warrants, the issuance of certificates for shares of Common Stock shall be made forthwith
(and in any event within five business days thereafter) without charge to the Holder(s) thereof including, without limitation,
any tax other than income taxes, which may be payable in respect of the issuance thereof, and such certificates shall be issued
in the name of, or in such names as may be directed by the Holder(s) thereof; provided, however, that the Company shall not be
required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of any such certificates
in a name other than that of the Holder(s) and the Company shall not be required to issue or deliver such certificates unless or
until the person or persons requesting the issuance thereof shall have paid to the Company the amount of such tax or shall have
established to the satisfaction of the Company that such tax has been paid.

 

    	 

    	 

    

 

The Warrant Certificates
and the certificates representing the shares of Common Stock or other securities, property or rights issued upon exercise of any
Warrants shall be executed on behalf of the Company by the manual or facsimile signature of the then present President or any Vice
President of the Company under its corporate seal reproduced thereon, attested to by the manual or facsimile signature of the then
present Secretary or any Assistant Secretary of the Company. Warrant Certificates shall be dated the date of execution by the Company
upon initial issuance, division, exchange, substitution or transfer.

 

6.          Transfer
of Warrants. The Warrants shall be transferable only on the books of the Company maintained at its principal office, where
its principal office may then be located, upon delivery of the Warrant Certificates representing such Warrants duly endorsed by
the Holder(s) or by its or their duly authorized attorney or representative accompanied by proper evidence of succession, assignment
or authority to transfer. Upon any registration transfer, the Company shall execute and deliver the new Warrant Certificates to
the person entitled thereto.

 

7.          Exercise
Price and Number of Securities. Except as otherwise provided in Section 10 hereof, each Warrant is exercisable to purchase
one share of Common Stock at an initial exercise price equal to the Exercise Price. The Exercise Price and the number of shares
of Common Stock for which the Warrant may be exercised shall be the price and the number of shares of Common Stock which shall
result from time to time from any and all adjustments in accordance with the provisions of Section 10 hereof.

 

    	 

    	 

    

 

8.          Registration
Rights.

 

8.1        Registration
Under the Securities Act of 1933. The Holder of a Warrant Certificate, by its acceptance thereof, covenants and agrees that
the Warrants are being acquired as an investment and not with a view to the distribution thereof. Each Warrant Certificate and
each certificate representing shares of Common Stock and any of the other securities issuable upon exercise of the Warrant (collectively,
the “Warrant Shares”) shall bear the following legend unless (i) the Warrants or Warrant Shares are distributed to
the public or sold to the underwriters for distribution to the public pursuant to this Section 8 or otherwise pursuant to a registration
statement filed under the Securities Act of 1933, as amended (the “Act”), or (ii) the Company has received an opinion
of counsel, in form and substance reasonably satisfactory to counsel for the Company, that such legend is unnecessary for any such
certificate:

 

THE SECURITIES REPRESENTED BY
THIS CERTIFICATE MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT
OF 1933, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER SUCH ACT (OR ANY SIMILAR RULE UNDER SUCH ACT RELATING TO THE DISPOSITION
OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL FOR THE ISSUER, THAT
AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT IS AVAILABLE.

 

THE TRANSFER OR EXCHANGE OF
THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS RESTRICTED IN ACCORDANCE WITH THE WARRANT AGREEMENT BETWEEN THE ISSUER AND DPEC
CAPITAL, INC. DATED AS OF MARCH 11, 2010. 

 

    	 

    	 

    

 

8.2        Piggyback
Registration. If, at any time commencing after the date hereof and expiring five years thereafter, the Company proposes to
register any of its securities under the Act (other than in connection with an initial public offering of shares of Common Stock
of the Company or in connection with a merger or pursuant to Form S-4 or Form S-8 or successor form thereto) it will give written
notice by registered mail, at least 30 days prior to the filing of each such registration statement, to the Holder(s) of the Warrant
Shares of its intention to do so. If any of the Holder(s) of the Warrant Shares notify the Company within 20 days after mailing
of any such notice of its or their desire to include any such securities in such proposed registration statement, the Company shall
afford such Holder(s) of the Warrant Shares the opportunity to have any such Warrant Shares registered under such registration
statement. In the event that such registration relates to an underwritten public offering and the managing underwriter for said
offering advises the Company in writing that in its opinion the number of securities requested to be included in such registration
exceeds the number which can be sold in such offering without causing a diminution in the offering price or otherwise adversely
affecting the offering, the Company will include in such registration (a) first, the securities the Company proposes to
sell, (b) second, the securities held by the entities that made the demand for registration, (c) third, the Warrant
Shares requested to be included in such registration which in the opinion of such underwriter can be sold, pro rata
among the Holder(s) of Warrant Shares on the basis of the number of Warrant Shares requested to be registered by such Holder(s),
and (d) fourth, other securities requested to be included in such registration.

 

Notwithstanding the provisions
of this Section 8.2, the Company shall have the right at any time after it shall have given written notice pursuant to this Section
8.2 (irrespective of whether a written request for inclusion of any such securities shall have been made) to elect not to file
any such proposed registration statement or to withdraw the same after the filing but prior to the effective date thereof.

 

8.3        Covenants
of the Company With Respect to Registration. In connection with any registration under Section 8.2 hereof, the Company covenants
and agrees as follows:

 

(a) The Company shall
pay all costs (excluding fees and expenses of the Holder(s)’ counsel and any underwriting or selling commissions), fees and
expenses in connection with all registration statements filed pursuant to Section 8.2 hereof including, without limitation, the
Company’s legal and accounting fees, printing expenses, blue sky fees and expenses.

 

    	 

    	 

    

 

(b) The Company will
take all necessary action which may be required in qualifying or registering the Warrant Shares included in a registration statement
for offering and sale under the securities or blue sky laws of such states as reasonably are requested by the Holder(s), provided
that the Company shall not be obligated to execute or file any general consent to service of process or to qualify as a foreign
corporation to do business under the laws of any such jurisdiction.

 

(c) The Company shall
indemnify the Holder(s) of the Warrant Shares to be sold pursuant to any registration statement and each person, if any, who controls
such Holder(s) within the meaning of Section 15 of the Act or Section 20(a) of the Securities Exchange Act of 1934, as amended
(“Exchange Act”), against all loss, claim, damage, expense or liability (including all expenses reasonably incurred
in investigating, preparing or defending against any claim whatsoever) to which any of them may become subject under the Act, the
Exchange Act or otherwise, arising from such registration statement.

 

(d) Nothing contained
in this Agreement shall be construed as requiring the Holder(s) to exercise the Warrants prior to the initial filing of any registration
statement or the effectiveness thereof.

 

(e) The Company shall
furnish to each Holder participating in the offering and to each underwriter, if any, a signed counterpart, addressed to such Holder
or underwriter, of (i) an opinion of counsel to the Company, dated the effective date of such registration statement (and, if such
registration includes an underwritten public offering, an opinion dated the date of the closing under the underwriting agreement),
and (ii) a “cold comfort” letter dated the effective date of such registration statement (and, if such registration
relates to an underwritten public offering, a letter dated the date of the closing under the underwriting agreement) signed by
the independent public accountants who have issued a report on the Company’s financial statements included in such registration
statement, in each case covering substantially the same matters with respect to such registration statement (and the prospectus
included therein) and, in the case of such accountants’ letter, with respect to events subsequent to the date of such financial
statements, as are customarily covered in opinions of issuer’s counsel and in accountants’ letters delivered to underwriters
in underwritten public offerings of securities.

 

    	 

    	 

    

 

(f) The Company shall,
as soon as practicable after the effective date of any registration statement filed pursuant to this Section 8, and in any event
within 15 months thereafter, make “generally available to its security holders” (within the meaning of Rule 158 under
the Act) an earnings statement (which need not be audited) complying with Section 11(a) of the Act and covering a period of at
least 12 consecutive months beginning after the effective date of the registration statement.

 

9.          Obligations
of Holders. It shall be a condition precedent to the obligations of the Company to take any action pursuant to Section 8 hereof
that each of the selling Holders shall:

 

(a) Furnish to the
Company such information regarding themselves, the Warrant Shares held by them, the intended method of sale or other disposition
of such securities, the identity of and compensation to be paid to any underwriters proposed to be employed in connection with
such sale or other disposition, and such other information as may reasonably be required to effect the registration of their Warrant
Shares.

 

    	 

    	 

    

 

(b) Notify the Company,
at any time when a prospectus relating to the Warrant Shares covered by a registration statement is required to be delivered under
the Act, of the happening of any event with respect to such selling Holder as a result of which the prospectus included in such
registration statement, as then in effect, includes an untrue statement of a material fact or omits 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 then existing.

 

(c) The Holder(s) of
the Warrants and/or Warrant Shares to be sold pursuant to a registration statement, and their successors and assigns, shall severally,
and not jointly, indemnify the Company, its officers and directors and each person, if any, who controls the Company within the
meaning of Section 15 of the Act or Section 20(a) of the Exchange Act, against all loss, claim, damage or expense or liability
(including all expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which they
may become subject under the Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders,
or their successors or assigns, for specific inclusion in such registration statement; provided, however, that the indemnity of
such Holder(s) shall be limited to the net proceeds received by such Holder(s) in the sale of securities pursuant to the respective
registration statement.

 

10.        Adjustments
to Exercise Price and Number of Securities. The Exercise Price in effect at any time and the number and kind of securities
purchased upon the exercise of any Warrant shall be subject to adjustment from time to time only upon the happening of the following
events:

 

    	 

    	 

    

 

(a)          Stock
Dividend, Subdivision and Combination. In case the Company shall (i) declare a dividend or make a distribution on its outstanding
shares of Common Stock in shares of Common Stock, (ii) subdivide or reclassify its outstanding shares of Common Stock into a greater
number of shares, or (iii) combine or reclassify its outstanding shares of Common Stock into a smaller number of shares, the Exercise
Price in effect at the time of the record date for such dividend or distribution or of the effective date of such subdivision,
combination or reclassification shall be adjusted so that it shall equal the price determined by multiplying the Exercise Price
by a fraction, the denominator of which shall be the number of shares of Common Stock outstanding after giving effect to such action,
and the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to such action. Such adjustment
shall be made successively whenever any event listed above shall occur.

 

(b)          Adjustment
in Number of Securities. Upon each adjustment of the Exercise Price pursuant to the provisions of this Section 10, the number
of Warrant Shares issuable upon the exercise at the adjusted Exercise Price of each Warrant shall be adjusted to the nearest number
of whole shares of Common Stock by multiplying a number equal to the Exercise Price in effect immediately prior to such adjustment
by the number of Warrant Shares issuable upon exercise of the Warrants immediately prior to such adjustment and dividing the product
so obtained by the adjusted Exercise Price.

 

(c)          Definition
of Common Stock. For the purpose of this Section 10, the term “Common Stock” shall mean (i) the class of stock
designated as Common Stock in the Articles of Incorporation of the Company as amended as of the date hereof, or (ii) any other
class of stock resulting from successive changes or reclassifications of such Common Stock consisting solely of changes in par
value, or from par value to no par value, or from no par value to par value.

 

    	 

    	 

    

 

(d)          Merger
or Consolidation. In case of any consolidation of the Company with, or merger of the Company into, another corporation (other
than a consolidation or merger which does not result in any reclassification or change of the outstanding Common Stock), the corporation
formed by such consolidation or merger shall execute and deliver to the Holder(s) a supplemental warrant agreement providing that
the Holder of each Warrant then outstanding or to be outstanding shall have the right thereafter (until the expiration of such
Warrant) to receive, upon exercise of such Warrant, the kind and amount of shares of stock and other securities and property receivable
upon such consolidation or merger by a holder of the number of shares of Common Stock for which such Warrant might have been exercised
immediately prior to such consolidation, merger, sale or transfer. Such supplemental warrant agreement shall provide for adjustments
which shall be identical to the adjustments provided in Section 10. The above provision of this subsection shall similarly apply
to successive consolidations or mergers.

 

(e)          No
Adjustment of Exercise Price in Certain Cases. No adjustment of the Exercise Price shall be made if the amount of said adjustment
shall be less than two cents ($.02) per share; provided, however, that in such case any adjustment that would otherwise be required
then to be made shall be carried forward and shall be made at the time of and together with the next subsequent adjustment which,
together with any adjustment so carried forward, shall amount to at least two cents ($.02) per Warrant.

 

11.        Exchange
and Replacement of Warrant Certificates. Each Warrant Certificate is exchangeable, without expense, upon the surrender thereof
by the registered Holder(s) at the principal executive office of the Company for a new Warrant Certificate of like tenor and date
representing in the aggregate the right to purchase the same number of Warrant Shares in such denominations as shall be designated
by the Holder thereof at the time of such surrender. Upon receipt by the Company of evidence reasonably satisfactory to it of the
loss, theft, destruction or mutilation of any Warrant Certificate, and, in case of loss, theft or destruction, of indemnity or
security reasonably satisfactory to it and reimbursement to the Company of all reasonable expenses incidental thereto, and upon
surrender and cancellation of the Warrant, if mutilated, the Company will make and deliver a new Warrant Certificate of like tenor,
in lieu thereof.

 

    	 

    	 

    

 

12.        Elimination
of Fractional Interests. The Company shall not be required to issue certificates representing fractions of shares of Common
Stock upon the exercise of any Warrant, nor shall it be required to issue scrip or pay cash in lieu of fractional interests, it
being the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up to the nearest whole
number of shares of Common Stock or other securities, properties or rights.

 

13.        Reservation
and Listing of Securities. The Company shall at all times reserve and keep available out of its authorized shares of Common
Stock, solely for the purpose of issuance upon the exercise of the Warrants, such number of shares of Common Stock or other securities,
properties or rights as shall be issuable upon the exercise thereof. Every transfer agent (“Transfer Agent”) for the
Common Stock and other securities of the Company issuable upon the exercise of the Warrants will be irrevocably authorized and
directed at all times to reserve such number of authorized shares of Common Stock and other securities as shall be requisite for
such purpose. The Company will keep a copy of this Agreement on file with every Transfer Agent for the Common Stock and other securities
of the Company issuable upon the exercise of the Warrants. The Company will supply every such Transfer Agent with duly executed
stock and other certificates, as appropriate, for such purpose. The Company covenants and agrees that, upon exercise of the Warrants
and payment of the Exercise Price therefor, all shares of Common Stock and other securities issuable upon such exercise shall be
duly and validly issued, fully paid, non-assessable and not subject to the preemptive rights of any stockholder. As long as any
Warrants shall be outstanding, the Company shall use its best efforts to cause all shares of Common Stock issuable upon the exercise
of the Warrants to be listed (subject to official notice of issuance) on all securities exchanges on which the Common Stock issued
to the public in connection herewith may then be listed and/or quoted on the NASDAQ.

 

    	 

    	 

    

 

14.        No
Rights as Stockholder; Notices to Holders in Certain Circumstances. Nothing contained in this Agreement shall be construed
as conferring upon the Holder(s) the right to vote or to consent or to receive notice as a stockholder in respect of any meetings
of stockholders for the election of directors or any other matter, or as having any rights whatsoever as a stockholder of the Company.
If, however, at any time prior to the expiration of the Warrants and their exercise, any of the following events shall occur:

 

(a)          the
Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive a dividend or distribution
payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of current or retained earnings,
as indicated by the accounting treatment of such dividend or distribution on the books of the Company; or

 

(b)          the
Company shall offer to all the holders of its Common Stock any additional shares of capital stock of the Company or securities
convertible into or exchangeable for shares of capital stock of the Company, or any option, right or warrant to subscribe therefor;
or

 

(c)          a
dissolution, liquidation or winding up of the Company (other than in connection with a consolidation or merger) or a sale of all
or substantially all of its property, assets and business as an entirety shall be proposed;

 

    	 

    	 

    

 

then in any one or more of said events,
the Company shall give written notice of such event at least 15 days prior to the date fixed as a record date or the date of closing
the transfer books for the determination of the stockholders entitled to such dividend, distribution, convertible or exchangeable
securities or subscription rights, or entitled to vote on such proposed dissolution, liquidation, winding up or sale. Such notice
shall specify such record date or the date of closing the transfer books, as the case may be. Failure to give such notice or any
defect therein shall not affect the validity of any action taken in connection with the declaration or payment of any such dividend,
or the issuance of any convertible or exchangeable securities, or subscription rights, options or warrants, or any proposed dissolution,
liquidation, winding up or sale.

 

15.        Notices.
All notices, requests, consents and other communications hereunder shall be in writing and shall be deemed to have been duly made
and sent when delivered, or mailed by registered or certified mail, return receipt requested:

 

(a)          if
to the registered Holder(s) of the Warrants, to the addresses of such Holder as shown on the books of the Company; or

 

(b)          if
to the Company, to the address set forth in Section 4 hereof or to such other address as the Company may designate by notice to
the Holder(s).

 

16.        Supplements;
Amendments; Entire Agreement. This Agreement contains the entire understanding between the parties hereto with respect to the
subject matter hereof and may not be modified or amended except by a writing duly signed by the party against whom enforcement
of the modification or amendment is sought. The Company and the Placement Agent may from time to time supplement or amend this
Agreement without the approval of any Holder(s) of Warrant Certificates (other than the Placement Agent) in order to cure any ambiguity,
to correct or supplement any provision contained herein which may be defective or inconsistent with any provisions herein, or to
make any other provisions in regard to matters or questions arising hereunder which the Company and the Placement Agent may deem
necessary or desirable and which the Company and the Placement Agent deem shall not adversely affect the interests of the Holder(s).

 

    	 

    	 

    

 

17.        Successors.
All of the covenants and provisions of this Agreement shall be binding upon and inure to the benefit of the Company, the Placement
Agent and their respective successors and assigns hereunder.

 

18.        Survival
of Representations and Warranties. All statements in any schedule, exhibit or certificate or other instrument delivered by
or on behalf of the parties hereto, or in connection with the transactions contemplated by this Agreement, shall be deemed to be
representations and warranties hereunder. Notwithstanding any investigations made by or on behalf of the parties to this Agreement,
all representations, warranties and agreements made by the parties to this Agreement or pursuant hereto shall survive.

 

19.        Governing
Law. This Agreement and each Warrant Certificate issued hereunder shall be deemed to be a contract made under the laws of the
State of Delaware and for all purposes shall be construed in accordance with the laws of said State without giving effect to the
rules of said State governing the conflicts of laws.

 

20.        Severability.
If any provision of this Agreement shall be held to be invalid or unenforceable, such invalidity or unenforceability shall not
affect any other provision of this Agreement.

 

21.        Captions.
The caption headings of the Sections of this Agreement are for convenience of reference only and are not intended, nor should they
be construed as, a part of this Agreement and shall be given no substantive effect.

 

    	 

    	 

    

 

22.        Benefits
of this Agreement. Nothing in this Agreement shall be construed to give to any person or corporation other than the Company
and the Placement Agent and any other registered Holder(s) of the Warrant Certificates or Warrant Shares any legal or equitable
right, remedy or claim under this Agreement; and this Agreement shall be for the sole and exclusive benefit of the Company and
the Placement Agent and any other Holder(s) of the Warrant Certificates or the Warrant Shares.

 

[Remainder of Page Intentionally Left
Blank]

 

    	 

    	 

    

 

23.       Counterparts.
This Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to
be an original, and such counterparts shall together constitute but one and the same instrument.

 

IN WITNESS HEREOF,
the parties hereto have caused this Agreement to be duly executed, as of the day and year first above written.

 

	ATTEST:	 	HOLLYWOOD
    BURGER HOLDINGS, INC.
	 	 	 
	 	 	By:	/s/
    Scott L. Mathis
	Secretary	 	Name:  Scott
    L. Mathis
	 	 	Title:    President
	 	 	 
	 	 	DPEC
    CAPTAL, INC.
	 	 	 
	 	 	By:	/s/
    Keith Fasano
	 	 	 	Name:
    Keith Fasano
	 	 	 	Title:
    Director of Operations

 

    	 

    	 

    

 

WARRANT CERTIFICATE

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE
MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, (ii) TO
THE EXTENT APPLICABLE, RULE 144 UNDER SUCH ACT (OR ANY SIMILAR RULE UNDER SUCH ACT RELATING TO THE DISPOSITION OF SECURITIES),
OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL FOR THE ISSUER, THAT AN EXEMPTION FROM
REGISTRATION UNDER SUCH ACT IS AVAILABLE.

 

THE TRANSFER OR EXCHANGE OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE IS RESTRICTED IN ACCORDANCE WITH THE WARRANT AGREEMENT DATED AS OF MARCH 11, 2010 BETWEEN THE ISSUER
AND DPEC CAPITAL, INC.

 

EXERCISABLE ON OR BEFORE

5:30 P.M., NEW YORK TIME, ____________,
2015

 

Warrant No. ___

 

____________ Shares of Common Stock

 

This Warrant Certificate
certifies that DPEC Capital, Inc., or its registered assigns, is the registered holder of Warrants to purchase initially, at any
time from ____________, 2010 until 5:30 p.m., New York time on ___________, 2015 (“Expiration Date”), up to___________
shares of fully-paid and non-assessable common stock, $.01 par value per share (the “Common Stock”) of HOLLYWOOD BURGER
HOLDINGS, INC., a Delaware corporation (the “Company”), at the initial exercise price, subject to adjustment in certain
events, of $.125 per share of Common Stock (the “Exercise Price”) upon surrender of this Warrant Certificate and payment
of the Exercise Price at an office or agency of the Company, but subject to the conditions set forth herein and in the Warrant
Agreement dated as of March 11, 2010 between the Company and DPEC Capital, Inc. (the “Warrant Agreement”). Payment
of the Exercise Price shall be made by certified or official bank check in New York Clearing House funds payable to the order of
the Company.

 

No Warrant may be exercised
after 5:30 p.m., New York time, on the Expiration Date, at which time all Warrants evidenced hereby, unless exercised prior thereto,
shall thereafter be void.

 

The Warrants evidenced
by this Warrant Certificate are part of a duly authorized issue of Warrants issued pursuant to the Warrant Agreement, which Warrant
Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a description
of the rights, limitation of rights, obligations, duties and immunities thereunder of the Company and the holders (the words “holders”
or “holder” meaning the registered holders or registered holder) of the Warrants.

 

    	 

    	 

    

 

The Warrant Agreement
provides that upon the occurrence of certain events the Exercise Price and the type and/or number of the Company’s securities
issuable thereupon may, subject to certain conditions, be adjusted. In such event, the Company will, at the request of the holder,
issue a new Warrant Certificate evidencing the adjustment in the Exercise Price and the number and/or type of securities issuable
upon the exercise of the Warrants; provided, however, that the failure of the Company to issue such new Warrant Certificates shall
not in any way change, alter, or otherwise impair, the rights of the holder as set forth in the Warrant Agreement.

 

Upon due presentment
for registration of transfer of this Warrant Certificate at an office or agency of the Company, a new Warrant Certificate or Warrant
Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange
for this Warrant Certificate, subject to the limitations provided herein and in the Warrant Agreement, without any charge except
for any tax or other governmental charge imposed in connection with such transfer.

 

Upon the exercise of
less than all of the Warrants evidenced by this Certificate, the Company shall forthwith issue to the holder hereof a new Warrant
Certificate representing such numbered unexercised Warrants.

 

The Company may deem
and treat the registered holder(s) hereof as the absolute owner(s) of this Warrant Certificate (notwithstanding any notation of
ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, and of any distribution to the holder(s)
hereof, and for all other purposes, and the Company shall not be affected by any notice to the contrary.

 

All terms used in this
Warrant Certificate which are defined in the Warrant Agreement shall have the meanings assigned to them in the Warrant Agreement.

 

This Warrant Certificate
does not entitle any holder thereof to any of the rights of a shareholder of the Company.

 

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

 

Dated: ______________, 20__

 

	ATTEST:	 	HOLLYWOOD
    BURGER HOLDINGS, INC.
	 	 	 
	/s/
     Tim Holderbaum	 	By:	 
	Name:
    Tim Holderbaum	 	Name:
    Scott L. Mathis
	Title:
    Secretary	 	Title:
    President

 

    	 

    	 

    

 

EXTENSION OF WARRANT AGREEMENT

DATED MARCH 11, 2010

 

Dated as of: October 8,
2010          

 

Hollywood Burger Holdings, Inc.

135 Fifth Avenue, 10th Floor

New York, New York 10010

 

Ladies and Gentlemen:

 

This shall confirm
that Hollywood Burger Holdings, Inc., a Delaware corporation (the “Company”), hereby agrees with DPEC Capital, Inc.,
a Delaware corporation (the “Placement Agent”), to extend the terms of their Warrant Agreement, dated March 11, 2010
(the “Warrant Agreement”), to a second offering being conducted by the Company, commencing in October 2010 (hereinafter,
the “Second Offering”). Except as expressly modified herein, all of the terms and provisions set forth in the Warrant
Agreement shall apply with respect to the Second Offering.

 

The modifications to
the Warrant Agreement are as follows:

 

1.   All
references to the “Offering” shall refer to the Company’s proposed private placement of up to 10,000,000 shares
of common stock of the Company, $.01 par value per share (plus up to an additional 3,000,000 shares on the same terms), at an offering
price of $.50 per share.

 

2.   All
references to the “Exercise Price” shall be understood to be $.50 per share.

 

3.   The
legend referred to in paragraph 8.1 of the Warrant Agreement shall read as follows:

 

THE SECURITIES REPRESENTED BY
THIS CERTIFICATE MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT
OF 1933, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER SUCH ACT (OR ANY SIMILAR RULE UNDER SUCH ACT RELATING TO THE DISPOSITION
OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL FOR THE ISSUER, THAT
AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT IS AVAILABLE.

 

    	 

    	 

    

 

THE TRANSFER OR EXCHANGE OF
THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS RESTRICTED IN ACCORDANCE WITH THE EXTENSION OF WARRANT AGREEMENT BETWEEN THE
ISSUER AND DPEC CAPITAL, INC. DATED AS OF OCTOBER 8, 2010. 

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date first written above.

 

	DPEC CAPITAL, INC.	 	HOLLYWOOD BURGER HOLDINGS, INC.
	 	 	 	 	 
	By:	/s/ Keith Fasano	 	By:	/s/ Scott L. Mathis
	 	Name: Keith Fasano	 	 	Name: Scott L. Mathis
	 	Title:  Director of Compliance	 	 	Title:  President

 

    	- 2 -

    	 

    

 

SECOND EXTENSION OF WARRANT AGREEMENT

(INITIALLY DATED MARCH 11, 2010)

 

Dated as of: March 21,
2012          

 

Hollywood Burger Holdings, Inc.

135 Fifth Avenue, 10th Floor

New York, New York 10010

 

Ladies and Gentlemen:

 

This shall confirm
that Hollywood Burger Holdings, Inc., a Delaware corporation (the “Company”), hereby agrees with DPEC Capital, Inc.,
a Delaware corporation (the “Placement Agent”), to extend the terms of their Warrant Agreement, dated March 11, 2010
(the “Warrant Agreement”), as previously amended and extended on October 8, 2010 (the “Initial Extension”),
to a third financing event being conducted by the Company, commencing on or about March 21, 2012 (hereinafter, the “March
2012 Offering”). Except as expressly modified herein, all of the terms and provisions set forth in the Warrant Agreement
and the Initial Extension shall apply with respect to the March 2012 Offering.

 

The modifications to
the Warrant Agreement are as follows:

 

1.   As
of March 21, 2012, all references to the “Offering” shall refer to the Company’s proposed private placement of
up to 6,000,000 shares of common stock of the Company, $.01 par value per share (plus up to an additional 1,800,000 shares on the
same terms), at an offering price of $.75 per share.

 

2.   To
the extent the Warrant Agreement pertains to the March 2012 Offering, all references to the “Exercise Price” shall
be understood to be $.75 per share.

 

3.   The
legend referred to in paragraph 8.1 of the Warrant Agreement shall read as follows:

 

THE SECURITIES REPRESENTED BY
THIS CERTIFICATE MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT
OF 1933, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER SUCH ACT (OR ANY SIMILAR RULE UNDER SUCH ACT RELATING TO THE DISPOSITION
OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO COUNSEL FOR THE ISSUER, THAT
AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT IS AVAILABLE.

 

    	 

    	 

    

 

THE TRANSFER OR EXCHANGE OF
THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS RESTRICTED IN ACCORDANCE WITH THE EXTENSION OF WARRANT AGREEMENT BETWEEN THE
ISSUER AND DPEC CAPITAL, INC. DATED AS OF OCTOBER 8, 2010, AS AMENDED AND REVISED. 

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date first written above.

 

	DPEC CAPITAL, INC.	 	HOLLYWOOD BURGER HOLDINGS, INC.
	 	 	 	 	 
	By:	/s/ Keith Fasano	 	By:	/s/Scott L. Mathis
	 	Name: Keith Fasano	 	 	Name: Scott L. Mathis
	 	Title:  Director of Compliance	 	 	Title:  President

 

    	- 2 -

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