Document:

Form of Non-Qualified Stock Option Agreement

 EXHIBIT 10.24 
  
 NON-QUALIFIED STOCK OPTION AGREEMENT 
  
 AGREEMENT, dated as of              between EPL Holdings,
Inc., a Delaware corporation (the “Company”), and [            ] (the “Optionee”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Company, acting through its Board of Directors (the
“Board”) has granted to the Optionee, effective as of the date of this Agreement, an option to purchase shares of common stock, $.10 par value per share, of the Company (the “Common Stock”) on the terms and subject
to the conditions set forth in this Agreement; 
  
 NOW, THEREFORE,
in consideration of the premises and of the mutual agreements contained in this Agreement, the parties hereto agree as follows: 
  
 SECTION 1. Definitions. As used in this Agreement, the following terms have the meanings set forth below: 
  
 “Affiliate” of any Person means any other
Person directly or indirectly controlled by, controlling, or under common control with such Person. 
  
 “Board” means the Board of Directors of the Company. 
  
 “Cause” means action by the Optionee that constitutes misconduct, dishonesty, a deliberate
and premeditated act against the Company or its Affiliates, the commission of a felony or substance abuse or inebriation which renders the Optionee unfit to perform his duties. 
  
 “Cumulative EBITDA” means, with respect to any fiscal year of the Company set forth on
Annex I to this Agreement, the actual aggregate amount of EBITDA of the Company and its consolidated subsidiaries for the period commencing on December 30, 1999, and ending on the last day of such fiscal year (with such period being treated as one
accounting period for such purposes). 
  
 “Cumulative EBITDA Target” means, with respect to any fiscal year of the Company set forth on Annex I to this Agreement, the applicable amount set forth opposite such fiscal year on Annex I. 
  
 “EBITDA” means the income of the Company
(i) before, without duplication, interest expense, amortization of deferred financing fees and acquisition related bank/financing fees, income taxes, depreciation and amortization before gains (or losses) on the sale of Company operated restaurants
or other significant assets, (ii) after all bonuses and profit sharing expenses of the Company of any kind and (iii) after eliminating the non-cash gain on prior sale of the Company’s distribution business. 
  

 “EBITDA Target” means, with respect to any fiscal year of the Company
set forth on Annex I to this Agreement, the applicable amount set forth opposite such fiscal year on Annex I. 
  
 “Fair Market Value” of a share of Common Stock on any date shall be, if the Common Stock is listed on a national stock
exchange, the officially quoted closing price on such stock exchange, or if the Common Stock is listed on the NASDAQ National Market, the officially quoted closing price on NASDAQ, or, if the Common Stock is listed on NASDAQ but not on the National
Market, the average of the closing bid and asked prices reported by NASDAQ, in each case on the date as of which the value is to be determined (or if such date is not a trading day, as of the preceding trading day), or if the Common Stock is not so
listed, the fair market value determined in good faith by the Board. 
  
 “Option” has the meaning ascribed to such term in Section 2 of this Agreement. 
  
 “Option Shares” has the meaning ascribed to such term in Section 2 of this Agreement. 
  
 “Person” means any individual, partnership,
corporation, group, trust or other legal entity. 
  
 “Shares” means, collectively, the shares of Common Stock subject to the Option, whether such shares are Option Shares or Vested Shares. 
  
 “Transaction” shall mean (i) the sale of all, or substantially all, of the Company’s
consolidated assets, including, without limitation, a sale of all or substantially all of the assets of the Company or any of its subsidiaries whose assets constitute all or substantially all of the Company’s consolidated assets or the sale of
a majority of the outstanding shares of voting capital stock of any subsidiary or subsidiaries whose consolidated assets so constitute), in any single transaction or series of related transactions; (ii) the sale of a majority of the outstanding
shares of capital stock of the Company (on a fully-diluted basis); or (iii) any merger or consolidation of the Company with or into another corporation unless, after giving effect to such merger or consolidation, the holders of the Company’s
voting securities (on a fully-diluted basis), immediately prior to the merger or consolidation, own voting securities (on a fully-diluted basis) of the surviving or resulting corporation representing a majority of the ordinary voting power to elect
directors of the surviving or resulting corporation in the same proportions that they held their shares prior to such merger. 
  
 “Vested Shares” means the Option Shares with respect to which the Option is exercisable at any particular time.

  
  

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 SECTION 2. Option; Option Price. On the terms and subject to the conditions of this Agreement, the
Optionee shall have the option (the “Option”) to purchase up to [            ] shares (the “Option Shares”) of Common Stock at the price of
$         per Option Share (the “Option Price”). 
  
 SECTION 3. Term. The term of the option (the “Option Term”) shall commence on the date hereof and expire on the tenth anniversary
of the date hereof, unless the Option shall theretofore have been terminated in accordance with the terms of this Agreement. 
  
 SECTION 4. Time of Exercise. 
  
 (a) Unless accelerated as otherwise provided in Section 4(b) or 4(c) of this Agreement, the Option shall become exercisable as to 100% of the Option
Shares on the seventh anniversary of the date hereof. 
  
 (b) (i)
On the last day of each of the Company’s fiscal years beginning with the fiscal year ending [                ] through the fiscal year ending
[            ] (each, an “Accelerated Vesting Date”), if the Company’s EBITDA for the fiscal year ending on such Accelerated Vesting Date is equal to or exceeds the
EBITDA Target for such fiscal year, then the Option shall immediately become exercisable as to 20% of the Option Shares. 
  
 (ii) Notwithstanding any failure by the Company to meet the EBITDA Target for any fiscal year, the portion of the Option which would have become
exercisable pursuant to subsection (i) above on the applicable Accelerated Vesting Date shall become exercisable on a subsequent Accelerated Vesting Date if, with respect to such subsequent Accelerated Vesting Date, the Company’s Cumulative
EBITDA for the fiscal year ending on such Accelerated Vesting Date is equal to or greater than the Cumulative EBITDA Target for such fiscal year. 
  
 (c) In the event that American Securities Partners II, L.P. or American Securities Partners II(B), L.P. (“ASP”) shall have received, upon
one or more sales, transfers or other dispositions of capital stock of the Company to persons or entities other than ASP or its Affiliates, an aggregate amount in cash in excess of twice the amount invested by ASP in the capital stock of the
Company, the Option shall immediately become exercisable as to 100% of the Option Shares. 
  
 (d) In the event the Company makes any capital expenditures not contemplated by the projections upon which the EBITDA and Cumulative EBITDA Targets are based, or consummates any mergers or acquisitions or divestitures
(whether of assets or stock or other interests) or other extraordinary transactions, the Board will determine in good faith appropriate adjustments to the EBITDA and Cumulative EBITDA Targets, which adjustments shall be final and binding.

  

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 (e) Except as otherwise provided in Section 6, the Option shall remain exercisable as to all such Vested
Shares until the expiration of the Option Term. 
  
 SECTION 5.
Procedure for Exercise. 
  
 (a) The Option may be exercised
with respect to Vested Shares, from time to time, in whole or in part (but for the purchase of whole shares only), by delivery of a written notice (the “Exercise Notice”) from the Optionee to the Company, which Exercise Notice
shall: 
  
 (i) state that the Optionee elects to
exercise the Option; 
  
 (ii) state the number of
Vested Shares with respect to which the Optionee is exercising the Option; 
  
 (iii) include any representations of the Optionee required under Section 10 hereof; 
  
 (iv) in the event that the Option shall be exercised by the representative of the Optionee’s estate pursuant to Section 6, include
appropriate proof of the right of such Person to exercise the Option; 
  
 (v) state the date upon which the Optionee desires to consummate the purchase of such Vested Shares (which date must be prior to the termination of the Option); and 
  
 (vi) comply with such further provisions as the Company may
reasonably require. 
  
 (b) Payment of the Option Price for the
Vested Shares to be purchased on the exercise of the Option shall be made by certified or bank cashier’s check payable to the order of the Company, delivery of shares of Common Stock held for as least six months, valued at their Fair Market
Value as of the trading day immediately prior to the date of exercise or by a combination of any of the foregoing means of payment. 
  
 (c) As a condition to the exercise of the Option and prior to the issuance of any Vested Shares, the Optionee (or the representative of his estate) shall
be required to execute a Non-Officer Stockholders Agreement (the “Non-Officer Stockholders Agreement”) among the Company, EPL Intermediate, Inc., the Optionee (or representative) and the other stockholders of the Company,
substantially in the form attached hereto as Annex II. 
  
 (d) The
Company shall be entitled to require, as a condition of delivery of the Vested Shares, that the Optionee agree to remit when due an amount in cash 
  

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 sufficient to satisfy all current or estimated future federal, state and local withholding, and employment taxes relating
thereto. 
  
 SECTION 6. Termination of Service. All or any
part of the Option, to the extent unexercised, shall terminate immediately upon the Optionee’s termination of employment with the Company (or any of its affiliates), except that the Optionee shall have until the end of the third month following
the date of such termination of employment to exercise any portion of the Option that he could have exercised on the date of such termination of employment; provided, however, that such exercise must be accomplished prior to the
expiration of the Option Term. Notwithstanding the foregoing, if the Optionee’s cessation is due to his retirement, total and permanent disability (as determined by the Board) or death, the Optionee, or the representative of the estate of the
Optionee, as the case may be, may exercise any portion of the Option which the Optionee could have exercised on the date of such cessation for a period of six months thereafter; provided, however, that such exercise must be
accomplished prior to the expiration of the Option Term. Notwithstanding the foregoing, in the event such termination of employment occurs for Cause, the unexercised portion of the Option shall terminate immediately and the Optionee shall have no
right thereafter to exercise any part of the Option. Notwithstanding the preceding, any portion of the Option which is not exercisable at the time of termination of the Optionee’s employment (for any reason) shall terminate and become null and
void. 
  
 SECTION 7. No Rights as a Stockholder. The
Optionee shall not have any rights or privileges of a stockholder with respect to any Shares unless and until certificates representing such Shares shall be issued by the Company to such Optionee. 
  
 SECTION 8. Additional Provisions Related to Exercise. In the event of
the exercise of the Option at a time when there is not in effect a registration statement under the Securities Act of 1933, as amended, relating to the Shares, the Optionee hereby represents and warrants, and by virtue of such exercise shall be
deemed to represent and warrant to the Company that the Option Shares are being acquired for investment only and not with a view to the distribution thereof, and the Optionee shall provide the Company with such further representations and warranties
as the Board may reasonably require in order to ensure compliance with applicable federal and state securities, “blue sky” and other laws. No Shares shall be purchased upon the exercise of the Option unless and until the Company and/or the
Optionee shall have complied with all applicable federal or state registration, listing and/or qualification requirements and all other requirements of law or of any regulatory agencies having jurisdiction. 
  
 SECTION 9. Restriction on Transfer. 
  
 (a) The Option may not be transferred, pledged, assigned, hypothecated or
otherwise disposed of in any way by the Optionee and may be exercised during the lifetime of the Optionee only by the Optionee. If the Optionee dies, the Option shall thereafter be exercisable, during the period specified in Section 6, by the
representative 
  

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 of his estate to the full extent to which the Option was exercisable by the Optionee at the time of his death. The Option
shall not be subject to execution, attachment or similar process. Any attempted assignment, transfer, pledge, hypothecation or other disposition of the Option contrary to the provisions hereof, and the levy of any execution, attachment or similar
process upon the Option, shall be null and void and without effect. 
  
 (b) Any shares issued to the Optionee upon exercise of the Option shall be subject to the restrictions contained in the Stockholders’ Agreement and shall be deemed Stock (as defined in the Stockholders’ Agreement) for all purposes
thereunder. 
  
 SECTION 10. Restrictive Legend. All stock
certificates representing shares issued upon exercise of the Option shall, unless otherwise determined by the Board, have affixed thereto a legend substantially in the following form: 
  
 “THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A STOCKHOLDERS’ AGREEMENT AMONG EPL
HOLDINGS, INC., EPL INTERMEDIATE, INC. AND CERTAIN MINORITY STOCKHOLDERS NAMED THEREIN, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY. NO TRANSFER, SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION OR OTHER DISPOSITION OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE MAY BE MADE EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF SUCH STOCKHOLDERS’ AGREEMENT. THE HOLDER OF THIS CERTIFICATE, BY ACCEPTANCE OF THIS CERTIFICATE, AGREES TO BE BOUND BY ALL OF THE PROVISIONS OF SUCH
STOCKHOLDERS’ AGREEMENT.” 
  
 “THE
SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THE SHARES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF EITHER AN EFFECTIVE
REGISTRATION STATEMENT FOR THESE SHARES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR AN OPINION OF COUNSEL THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT.” 
  
 SECTION 11. Optionee’s Service. Nothing in the Option shall confer upon the Optionee any right to continue in
the employ of the Company or any of its Affiliates or interfere in any way with the right of the Company or its Affiliates or stockholders, as the case may be, to terminate the Optionee’s employment or to increase or decrease the
Optionee’s compensation at any time. 
  
 SECTION 12.
Adjustment. 
  

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 (a) Subject to Section 9(b), if the Common Stock is changed by reason of a stock split, reverse stock
split, stock dividend or recapitalization, or converted into or exchanged for other securities as a result of a merger, consolidation or reorganization, the Board shall make such adjustment in the number and class of shares of stock subject to the
Option, and such adjustments to the Option Price, as shall be equitable and appropriate in its good faith judgment under the circumstances. 
  
 (b) The following rules shall apply in connection with the occurrence of any Transaction: 
  
 (i) the Optionee shall be given (A) written notice of such Transaction at least 20 days prior to its
proposed effective date (as specified in such notice) and (B) an opportunity during the period commencing with delivery of such notice and ending 10 days prior to such proposed effective date, to exercise the Option in full; provided,
however, that upon the occurrence of a Transaction, the Option, to the extent not so exercised, shall automatically terminate; and 
  
 (ii) notwithstanding anything contained in Section 12(b)(i), Section 12(b)(i) shall not be applicable if provision shall be made in
connection with such Transaction for the assumption of the Option by, or the substitution for the Option of new options covering the stock of, the surviving successor of purchasing corporation, or a parent or subsidiary thereof, with appropriate
adjustments as to the number, kind and option price of shares subject to the Option; provided that no such provision shall have any impact on Optionee’s right to exercise the Option with respect to Vested Shares prior to such Transaction.

  
 (c) The following rules shall apply in connection with Section
12(a) and (b) above: 
  
 (i) no fractional shares
shall be issued as a result of any such adjustment, and any fractional shares resulting from the computations pursuant to Section 12(a) or (b) shall be eliminated without consideration from the Option; 
  
 (ii) no adjustment shall be made for the issuance to
stockholders or rights to subscribe for additional shares of Common Stock or other securities; and 
  
 (iii) any adjustment referred to in Section 12(a) or (b) shall be made by the Board in its sole discretion and shall be conclusive and
binding on the Optionee. 
  
 SECTION 13. Notices. All
notices, claims, certificates, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given and delivered if personally delivered or if sent by nationally recognized overnight courier, by
telecopy or by registered or certified mail, return receipt requested and postage prepaid, addressed as follows: 
  

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	 	(a)	if to the Company, to it at: 

  
 EPL Holdings, Inc. 
 c/o American Securities Capital Partners, L.P. 
 122 East 42nd Street, Suite 2400 
 New York, New York 10168 
 Telephone: (212) 697- 5524 
 Attention: David Horing 
  
 with a copy to: 
  
 Simpson Thacher & Bartlett 
 425 Lexington Avenue 
 New York, New York 10017 
 Attention: Richard Garvey 
  

	 	(b)	if to the Optionee, to him at such Optionee’s address as most recently supplied to the Company and set forth in the Company’s records 

  
 or to such other address as the party to whom notice is to be given may have furnished to the
other party in writing in accordance herewith. Any such notice or communication shall be deemed to have been received (i) in the case of personal delivery, on the date of such delivery (or if such date is not a business day, on the next business day
after the date sent), (ii) in the case of nationally-recognized overnight courier, on the next business day after the date sent, (iii) in the case of telecopy transmission, when received (or if not sent on a business day, on the next business day
after the date sent), and (iv) in the case of mailing, on the third business day following the date on which the piece of mail containing such communication is posted. 
  
 SECTION 14. Waiver of Breach. The waiver by either party of a breach of any provision of this Agreement must be in
writing and shall not operate or be construed as a waiver of any other or subsequent breach. 
  
 SECTION 15. Optionee’s Undertaking. The Optionee hereby agrees to take whatever additional actions and execute whatever additional documents the Company may in its reasonable judgement deem necessary or
advisable in order to carry out or effect one or more of the obligations or restrictions imposed on the Optionee pursuant to the provisions of this Agreement. 
  

SECTION 16. Amendment. This Agreement may not be amended, terminated, suspended or otherwise modified except in a written instrument, duly
executed by both parties. 
  
 SECTION 17. Governing Law.
This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware (without giving effect to principles of conflicts of laws). 
  

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 SECTION 18. Counterparts. This Agreement may be executed in one or more counterparts, and each
such counterpart shall be deemed to be an original, but all such counterparts together shall constitute but one agreement. 
  
 SECTION 19. Entire Agreement. This Agreement (and the other writings incorporated by reference herein) constitute the entire agreement between the
parties with respect to the subject matter hereof and supersede all prior written or oral negotiations, commitments, representations and agreements with respect thereto. 
  
 SECTION 20. Severability. In the event any one or more of the provisions of this Agreement should be held invalid,
illegal or unenforceable in any respect in any jurisdiction, the validity, legality and enforceability of the remaining provisions of this Agreement shall not in any way be affected or impaired thereby. 
  
 IN WITNESS WHEREOF, the parties hereto have executed this Non-Qualified Stock
Option Agreement as of the date first written above. 
  

			
	EPL HOLDINGS, INC.
		
	By:	 	 
	 	 	

	 	 	Name:
	 	 	Title:
	
	OPTIONEE
		
	 	 	 
	 	 	

	 	 	Name: [            ]

  

 9Letter Agreement between Gold Kist, Inc and El Pollo Loco, Inc.

 EXHIBIT 10.25 
  
 January 23, 2004 
  
 Mr. Sidney Prince 
 Gold Kist Inc. 
 244 Perimeter Center Parkway, N.E. 
 Atlanta, GA 30346-2397 
  
 Dear Mr. Prince: 
  
 This letter is to confirm our selection of Gold Kist Inc. as a supplier of “Saddlecut” chicken hind halves to the El Pollo Loco
system. As discussed and agreed Gold Kist Inc. will supply the El Pollo Loco system needs shown below: 
  
 * loads per month (exception noted below) Saddlecut chicken, EPL Specification *. $*/lb delivered to MBM/Rancho Cucamonga, CA and $*/lb delivered to MBM/Pleasanton, CA. 
  
 EXCEPTION: 
  
 For the period of March 8 through April 12: * loads per week 
 For the period of August 9 through September 27: * loads per week 
  
 Terms: Net 14 Days. 
 Pricing contract period 03/01/04 through 03/01/05. 
  
 Please sign and return both copies of this letter. After I have received the signed copies, I
will sign and return a copy for your files. Signing this letter acknowledges acceptance of the terms and conditions as presented above. 
  
 Sidney, thank you for your help and support on this matter and please contact me with any questions. 
  

					
			
	  	 	 	 	  
	
	 	 	 	

	 Sidney Prince
 Gold Kist Inc.
	 	 	 	 Joe Stein
 El Pollo Loco, Inc.

  

	cc:	Mary Beth Ritchie, Shanae Brown/MBM, Greg McGuckin/MBM, Terrie Massey/MBM 

  

	*	Confidential material redacted and filed separately with the Commission. 

  

 El Pollo Loco Inc. 
  
 GENERAL TERMS AND CONDITIONS OF SUPPLY 
  
 THESE GENERAL TERMS AND CONDITIONS shall govern the supply of approved products (herein referred to, whether singularly or
collectively as the “Products”) to the EPL system of company-owned and franchisee-owned El Pollo Loco Restaurants and shall constitute the agreement between El Pollo Loco Corporation and those parties, which have been approved as suppliers
(each such approved supplier is referred to herein as “Supplier”) to the EPL system. 
  
 In consideration of the designation by EPL as an approved Supplier and intending to be legally bound, Supplier, through the act of supplying the Products to and for use within the El Pollo Loco system, agrees to the
following: 
  

	 	1.	Approval – The approval by EPL of a Supplier to the El Pollo Loco system (the “Approval”) shall be confirmed in a written approval letter (the “Approval
Letter”) signed by EPL authorized representative, Stephen E. Lash, Director of Supply Chain Management. The Approval Letter shall identify a) the Products for which Supplier is approved, b) the approved product specification, and c) the
specific facility(ies) approved to manufacture the product. Supplier’s acceptance of the Approval and these General Terms And Conditions shall be manifested exclusively through the act of Supplier’s selling the Products for use within the
El Pollo Loco system. 

  

	 	2.	Sale And Distribution – Supplier shall sell the Products within the El Pollo Loco system only to distributors approved by EPL (collectively “Approved
Distributors”) who are authorized to resell or otherwise transfer the Products to El Pollo Loco restaurants. EPL shall inform Supplier of the identity of Approved Distributors by periodic written notification. In certain circumstances Supplier
may be authorized by EPL to sell Products within the El Pollo Loco system directly to restaurants or by such other distribution means as shall have the prior written approval of EPL. Supplier warrants that it will not sell or otherwise transfer
Products bearing the EPL, Fosters, Coca-Cola, Dr. Pepper or other trademarks owned by or authorized for use by or licensed by EPL (“The Marks”) trademark, logo or other indicia of Fosters®, Dr. Pepper® or Coca-Cola® to any third party, except as contemplated above, without the prior written authorization of (including distribution of excess products to charitable
or other organizations, e.g., Second Harvest). 

	 	3.	Specifications – As a condition to retention of Approval, Supplier shall satisfy and comply diligently with all written quality assurance requirements of EPL, as they
may be amended from time to time in the sole discretion of EPL, including but not limited to the EPL product specifications which have been furnished to Supplier, the EPL Quality Assurance Policies and Procedures which have been furnished to
Supplier, and all other written quality assurance communications from EPL (together the “Specifications”). The Products shall be manufactured, stored and shipped by Supplier in strict compliance with all applicable federal, state
and local laws and the Specifications. Supplier recognized and acknowledges that EPL may, from time to time, make representations to third parties regarding the content of various EPL products. Accordingly, Supplier may not change or materially
alter Product formulations or processing procedures without EPL prior knowledge and written approval. Any deviation whatsoever by Supplier from the Specifications may result in immediate termination of the Approval. If the Products are to carry the
EPL marks, Supplier shall not undertake any activities which are not authorized by EPL and which are intended or designed, directly or indirectly, to differentiate those Products produced by Supplier from identically specified Products produced by
other Suppliers for the El Pollo Loco system. 

  

	 	4.	Unapproved Products – Supplier will not knowingly sell any unapproved products for use within the El Pollo Loco system. If Supplier is advised by EPL that unapproved
products produced by Supplier are being sold by identified third parties to the El Pollo Loco system, Supplier will undertake best efforts and all commercially reasonable necessary steps which are legally within its power to bring about a
discontinuance of this activity. 

  

	 	5.	Confidentiality – Supplier acknowledges that the Specifications are the confidential, and proprietary information of EPL to be used by Supplier solely for the purpose of
supplying Product to the El Pollo Loco system. Supplier specifically warrants for itself, its employees and agents, that it (they) will not: (a) disclose the Specifications (or any portion thereof) nor cause them to be revealed to the general public
not to any person, corporation or other business association (including any of the Approved Distributors or franchisees of El Pollo Loco not specifically authorized in writing by EPL to receive them; (b) permit disclosure of the Specifications to
any of its employees except those who have a “need to know” to enable Supplier to perform its obligations; (c) permit anyone to reproduce, copy or exhibit the Specifications or any portion thereof of any confidential or proprietary
information received from EPL, or (d) use the Specifications to produce the Products either for Supplier’s own use or for sale or distribution to customers outside the El Pollo Loco system. No obligation will exist with respect to any
information contained in the Specifications which Supplier can establish through written 

 documents was (1) known to Supplier from a source other than EPL, or parties authorized to act on behalf
of EPL or the El Pollo Loco system, prior to receipt of the Specification from EPL or parties authorized to act on behalf of EPL or the El Pollo Loco system, or (2) substantially the same information that was previously published or became available
to third parties without restriction through no act or failure to act on the part of Supplier, or (3) substantially the same information previously available to Supplier from a third party having no obligation to hold such information in confidence.
If EPL or parties authorized to act on behalf of EPL or the El Pollo Loco system, provide Supplier with any information which relates to the purchase and sale of the Products, including but not limited to Product sales estimates, purchase
expectations, geographical expansion plans and the like, Supplier shall likewise maintain the confidentiality of such information. 
  

	 	6.	“Intentionally Left Blank” 

  

	 	7.	Inspection of Facilities – EPL shall have the right to inspect without advance notice (a) the premises of Supplier at which the Products are produced; (b) all of the
Supplier’s facilities and equipment relating to manufacture, storage and delivery of the Products and all components’ and (c) the Products, prior to their shipment to the El Pollo Loco system. Neither EPL nor its employees or agents shall
be required by Supplier to execute a confidentiality agreement, waiver or other agreement as a condition to engaging in inspections related to the Products. EPL may engage the services of an independent inspection firm, selected in the sole
discretion of EPL, to perform these inspections. Supplier will pay the reasonable cost of this third party inspection so long as the cost for routine inspection does not exceed the sum of Three Thousand Dollars ($3,000.00) per annum per individual
approved location. 

  

	 	8.	Laboratory Testing – At EPL request, Supplier shall promptly submit for analysis, samples of the Products or samples of any components in accordance with any testing
schedule established from time to time by EPL. Supplier agrees to send the samples to facilities selected in the sole discretion of EPL, and Supplier agrees to pay the reasonable costs of any third party laboratory testing so long as the cost for
routine inspections does not exceed the sum of Three Thousand Dollars ($3,000.00) per annum per individual approved product per location. 

  

	 	9.	Records Retention – For a period of at least two (2) years from the date of shipment (or for such longer period if requested by EPL), Supplier agrees to keep complete
records of the manufacture, storage, shipment and sale of the Products and, upon request by EPL, to make these records available to EPL. 

	 	10.	Indemnification – As a condition of the Approval, Supplier will defend, indemnify and hold harmless El Pollo Loco its parents, subsidiaries, affiliates,
Approved Distributors, directors, officers, employees, representatives, system purchasing agent(s) and El Pollo Loco franchisees, of and from all claims, demands, losses, damages, liabilities, costs and expenses, including reasonable attorneys’
fees and costs resulting from injury, illness and/or death caused, in whole or in part, by (i) contact with, use and/or consumption of the Products, including, without limitation, any product liability, strict product liability, or any variation
thereof, (ii) failure of the Products to comply with applicable specifications’ warranties and certifications under this Agreement unless (and then only to the extent) such injury, illness and/or death is directly caused by EPL, its parents,
subsidiaries, affiliates, Approved Distributors, El Pollo Loco franchisees, system purchasing agent(s) or unrelated third parties. Such indemnification obligation shall continue during the term of this Agreement and for anytime thereafter agrees to
advise Supplier if EPL receives notice that a claim has been or will be filed with respect to a matter covered by this indemnity and Supplier shall be given the opportunity to assume the defense thereof. If Supplier fails to assume such defense, EPL
may defend the action in the manner it deems appropriate, and Supplier shall pay to EPL all costs, including reasonable attorneys’ fees, incurred by EPL in effecting such defense and any subsequent legal appeal, in addition to any sum which EPL
may pay by reason of any settlement or judgment against EPL. This right to indemnity hereunder shall exist notwithstanding that joint or several liability may be imposed upon EPL (or the other persons identified above) by statute, ordinance,
regulation or judicial decision. 

  

	 	11.	Insurance – Supplier will maintain, during the entire term of the indemnification, comprehensive liability insurance, including product liability coverage, in
minimum amounts of Ten Million Dollars ($10,000,000) U.S. currency per occurrence for damage, injury and/or death to persons, One Million Dollars ($1,000,000) U.S. currency per occurrence for damage and/or injury to property and Worker’s
Compensation Insurance as required by law. Such coverage shall be on a Date of Occurrence Form. The insurance coverage required herein shall be provided by an insurance company or companies with a Bests rating of A-X or better reasonably acceptable
to EPL Supplier shall, promptly after receipt of the Approval Letter and annually thereafter, provide the Supply Chain Management Department with certificates of insurance evidencing such coverage and naming El Pollo Loco, its parents, subsidiaries
and affiliates as additional named insured’s. Each certificate shall indicate that the coverage represented thereby shall not be canceled nor modified until at least thirty (30) days prior written notice has been given to EPL. Such insurance
shall be carried during the term of this Agreement, including extension, and for at least three (3) years thereafter. 

	 	12.	Financial Reports – Upon request and at least once annually, Supplier will provide to EPL financial information sufficient to reasonably demonstrate Supplier’s
satisfactory financial condition. Such information may include annual or quarterly reports, bank references or other information reasonably directed towards a description of Supplier’s current financial status. If such information is held
confidential by Supplier, release may be conditioned upon execution by EPL of a reasonable and limited confidentiality agreement. 

  

	 	13.	Audit – During the term of this Agreement and for a period of two years after termination, Supplier’s correspondence, records and books of account related to the
supply of product to the El Pollo Loco system, shall be open to inspection and audit by EPL during Supplier’s normal business hours. 

  

	 	14.	Product Withdrawal – If it is deemed necessary at any time by either EPL or Supplier to recall or withdraw from Approved Distributors or from the El Pollo Loco system
any quantity of any Products, either as a result of failure of the Products, Supplier will comply diligently with the written Quality Assurance Product Withdrawal Procedures established from time to time by a current copy of which has been provided
to Supplier. [See Attachment “A”]. Furthermore, Supplier will bear all costs and expenses incurred by it and/or EPL, and/or any of the Approved Distributors in complying with the recall or withdrawal procedures (including w/o limitation,
costs of notifying customers, customer refunds, costs of returning product, loss profits, and other expenses incurred to meet obligations to third parties), unless (and then only to the extent) such recall or withdrawal is solely the result of the
negligence or misconduct by Approved Distributors, agent EPL, or El Pollo Loco franchisees. If Supplier fails or refuses to promptly comply with the recall or withdrawal of the Products upon request by EPL, EPL shall take such action as it deems
necessary to recall or withdraw the Products from the El Pollo Loco system and Supplier shall immediately reimburse for the costs and expenses incurred. 

  

	 	15.	Product Allocation – During an emergency shortage of the Product, as announced by EPL, or its designated representative, Supplier shall stand ready to allocate sales of
the Product within the El Pollo Loco system among Approved Distributors or otherwise, as reasonable directed by EPL, or its designated representative. 

  

	 	16.	New Products – The manufacture, storage, shipment and/or distribution by Supplier of any new or modified product intended for use within the El Pollo Loco system shall
be directed at the sole discretion of EPL or its designated representative, during the EPL related research, market testing and roll-out stages of development of such product. With respect to distribution and sale within 

	 	    	the El Pollo Loco system, EPL may, in its sole discretion, direct Supplier to allocate sales of the new or modified product among Approved Distributors or otherwise.

  

	 	17.	No Gratuities – Supplier will not pay any gratuities, commissions, fees or grant any rebates to any employee or officer of EPL his or her personal or private benefit,
nor favor any officer or employee of EPL with gifts, travel or entertainment of any substantial cost or value, nor enter into any business arrangements with employees or officers of EPL which benefit them personally or privately. If EPL employs
third party inspection or testing firms, or a system purchasing agent, Supplier agrees that these restrictions shall also apply to the officers and employees of such firms as if they were officers and employees of EPL. 

  

	 	18.	No Hidden Payments – An Approved Supplier has an obligation to provide fair and equitable treatment to the El Pollo Loco system as a whole. In connection with the direct
or indirect sale of the Products to the El Pollo Loco system, Supplier will not pay or procure or authorize a third party to pay any direct or indirect product or cash allowances, rebates, brokerage fees, finders fees, commissions or any other
consideration of any kind to any third party, including without limitation any Approved Distributor, EPL or its employees, any El Pollo Loco franchisee or their representative or employees, or any other third party associated with the transactions,
except as explicitly provided in any purchase agreement between the Supplier and any system purchasing agent. Supplier warrants and represents that it has not paid, is not obligated to pay and will not pay any allowance, rebate or fees to any third
party in connection with any recommendation or subsequent approval of the Supplier as an EPL Supplier. 

  

	 	19.	Product Information – Supplier warrants that any and all “Product Information and Nutritional Data Sheet” or “Supplier Profile” or similar
information request forms provided by EPL to Supplier have been and will in the future be completed by Supplier accurately and to the best of Supplier’s knowledge. 

  

	 	20.	Supplier Disclosure – Supplier, on behalf of itself and its principal officers, warrants and represents that they presently do not own any interest, whether direct or
indirect, in any El Pollo Loco franchise, in any El Pollo Loco restaurant, or in any corporation or partnership operating an El Pollo Loco restaurant or in any entity leasing real estate for the operation of an El Pollo Loco restaurant. Supplier
further warrants and represents, on behalf of itself and its principal officers, that they do not claim any right to become an El Pollo Loco franchisee, to own an interest in any El Pollo Loco restaurant or in a corporation operating an El Pollo
Loco restaurant. Supplier warrants and represents that during the term of this Agreement it will not knowingly hereafter 

	 	  	acquire, whether directly or indirectly, any interest in any El Pollo Loco restaurant, in any El Pollo Loco franchise or in any entity leasing real estate for the operation of an El
Pollo Loco restaurant. 

  

	 	21.	Food Warranties – Supplier warrants to EPL parents, subsidiaries, affiliates, any system purchasing agent, Approved Distributors and its franchisees that all food
products including food articles, food ingredients and food packaging comprising any approved Products, or any part thereof delivered, sold or transferred to EPL, to any system purchasing agent, to any Approved Distributor or to any El Pollo Loco
Restaurant hereunder (a) shall be in full compliance with either Federal Food, Drug and Cosmetic Act (“FDCA”), as amended, or the rules and regulations promulgated from time to time by the United States Department of Agriculture
(“USDA”), or any other applicable country, federal, state or local law, rule or regulation, as the case may be; (b) shall be manufactured, stored and delivered in accordance with appropriate “Good Manufacturing Practices” under
the FDCA or comparable regulations of the USDA and any other applicable country, federal, state, or local law, rule or regulation, as applicable; (c) shall not be adulterated or misbranded within the meaning of the FDCA or USDA and any other
applicable country, federal, state, or local law, rule or regulation, as applicable; (d) shall not be a food product which may not, under applicable laws, rules and regulations, be introduced into interstate commerce; and (e) shall not be a food
product adulterated or misbranded under any applicable country, federal, state or local law, rule or regulation. 

  

	 	22.	Product Warranties – Supplier warrants to EPL its parents, subsidiaries, affiliates, any system purchasing agent, Approved Distributors and its franchisees that the
Products shall be merchantable, fit for their intended purpose, pass without objection in the trade under the contract description, are of fair average quality within the description such that the products shall meet or exceed the Specifications in
every respect. Supplier warrants that the products are labeled as required by the specification and conform to the promises or affirmations of fact made on the containers or label if any. Supplier further warrants to EPL that unless excluded or
modified, other implied warranties may arise from course of dealing usage or trade. 

  

	 	23.	Inventory and Production – Supplier shall be required to maintain adequate service levels to its EPL customers on a day to day basis but responsibility for decisions
regarding the maintenance of inventory, the addition of new production lines, the construction of a new plant and similar elements of Supplier’s business shall rest entirely with the Supplier. EPL shall have no liability or other responsibility
whatsoever for loss or damage incurred by Supplier with respect to these decisions, including but not limited to loss or damage which may result from changes in the Specifications (though EPL will use reasonable efforts to provide advance notice of
such changes), marketing or sales plans or projections, the introduction or deletion of EPL menu items, the 

	 	   	termination of the Approval pursuant to its terms, or the termination of any other agreement between EPL and the Supplier pursuant to its terms. An exception with regard to
Supplier’s inventory decisions will exist in those instances in which written inventory directions are issued by EPL with respect to emergency shortages or new products and, in such case, EPL liability shall be limited to the price allocable to
the goods which are subject to the inventory direction. 

  

	 	24.	No Financial Warranty – EPL does not represent or warrant in any respect, whether express or implied, the financial condition of any Approved Distributor, any El Pollo
Loco franchisee or any other party and EPL shall have no liability to Supplier in connection therewith. 

  

	 	25.	EPL Trademarks – Supplier shall not, without the prior written consent of EPL use the marks or service marks of EPL in any manner whatsoever, unless, and then only to
the extent, such use is authorized by EPL in the Specifications. 

  

	 	26.	Supplier Suspension – Supplier’s approval may be suspended or terminated in accordance with the attached EPL Approval/Qualification Suspension Procedures, if, in
the sole judgment of EPL either, (a) any Product as produced by Supplier presents, or is likely to present in the immediate future, an imminent health or safety risk to consumers, to restaurant employees, to any third party or to the El Pollo Loco
system in violation of the Specifications or applicable governmental health safety or sanitation standards or (b) Supplier has repeatedly failed or refused to comply with the Specifications. 

  

	 	27.	Term – Supplier’s status and obligations as an Approved Supplier may be terminated by EPL during the term of the Purchase Agreement only due to (a) a material
breach by EPL of these General Terms and Conditions, or (b) a material change in the Specifications which substantially affects the cost of producing the Products, or, (c) in EPL’s sole discretion and with 60 days advance written notice to
Supplier, in the event of, the deletion of menu items from the El Pollo Loco menu. 

  

	 	28.	Termination – Upon termination of the Supplier’s designation as an Approved Supplier, Supplier shall not thereafter identify or represent itself as an Approved
Supplier of EPL nor use the Specifications nor any of EPL trade secrets and proprietary information for any purpose. Supplier shall also cease to use, in any manner whatsoever, any of the trademarks and/or service marks of EPL and shall return to
EPL (or at the option of EPL shall destroy) all copies of the Specifications. Upon termination of the Supplier’s designation as an Approved Supplier, the former Supplier will remain liable to EPL for any loss resulting from the unauthorized use
of any intellectual property. It is the express intention of the parties that this liability survive the Supplier’s termination. 

	 	29.	Approval No Promise Of Sale – The Approval and these General Terms And Conditions do not constitute a commitment on the part of EPL or any Approved Distributor or any
system purchasing agent or any El Pollo Loco franchisee or any other person to purchase any Products from Supplier. The purpose of the Approval and the General Terms and Conditions is to set forth the terms under which Supplier may provide the
Products to the El Pollo Loco system. 

  

	 	30.	Governing Terms And Conditions – These General Terms And Conditions shall govern and control any Purchase Agreement regardless of conflicting terms which may be
contained in any form or document previously or hereafter submitted by Supplier and all such competing and conflicting terms are hereby unconditionally rejected. 

  

	 	31.	EPL Not A Fiduciary – To the extent that EPL elects to negotiate a Purchase Agreement with Supplier on behalf of third party Approved Distributors and establishes
commitments between these parties for the sale and purchase of products, it is understood and agreed that EPL will not be acting as a fiduciary on behalf of any such third party Approved Distributor. 

  

	 	32.	Transportation of Products – Supplier represents and warrants the following with respect to all interstate product shipments to any Approved Distributors, pursuant to
any Purchase Agreement, which are arranged and/or paid for by Supplier: 

  

	 	(1)	That Supplier will use duly authorized contract and/or common carriers that comply with Surface Transportation Board (“STB”) rules and regulations and that supplier agrees
to follow and comply with any EPL specifications which may exist with respect to the shipment of the product. 

  

	 	(2)	That all transportation rates of common carriers selected by the Supplier to perform such movements to EPL or an Approved Distributor are published and on file with the STB and have
become effective prior to the tender of such shipments to those carriers; and 

  

	 	(3)	That the contract carriage rates of contract carriages selected by the Supplier to effectuate such hauls to EPL or an Approved Distributor are commemorated in bilateral written
transportation contracts between the Supplier and those contract carriers wherein the Supplier has committed itself to tender a series of shipments during the term of each such contact and the contract carriers have agreed either to dedicate
equipment to the needs of the Supplier or to render the specialized carriage services identified in the body of those contracts. Supplier shall indemnify and hold harmless EPL and each Approved Distributor from any and all claims, suits or
liabilities, including attorneys fees, arising out of a breach of the foregoing representation and warranty. 

	 	33.	No Waiver – Failure of EPL to exercise any right or option given to it under these General Terms and Conditions, or to insist upon strict compliance by Supplier with
these General Terms And Conditions shall not constitute a waiver with respect to any other or subsequent breach, nor a waiver by EPL of its right at any time thereafter to require exact and strict compliance with these General Terms And Conditions.
The rights or remedies set forth herein are in addition to any other rights or remedies which may be granted by law. 

  

	 	34.	Independent Contractor – Supplier acknowledges that it is an independent contractor and is not an agent, partner, joint venture nor employee of EPL Supplier shall have
no authority to bind or otherwise obligate EPL in any manner nor shall Supplier represent to anyone that it has a right to do so. 

  

	 	35.	Notices – All notices required hereunder shall be in writing and shall be deemed given when delivered or deposited in the United States mail addressed, if to EPL to
Attention: Supply Chain Management, with a copy to the Attention of Steve Lash located at the same address, and if to Supplier, to the person and at the address identified on the Approval Letter. Notice may also be given by transmitting a facsimile
to the facsimile number provided by the other party. Either party may change its mailing address or facsimile number by giving notice to the other party as described herein. 

  

	 	36.	Governing Law and Forum – The agreement represented by the Approval, and the General Terms And Conditions shall be deemed made and entered into in the State of
California and shall be governed and construed under and in accordance with the laws of the State of California. The U.S. District Court for the Central District of California if such court lacks jurisdiction, the Superior Court of the State of
California, County of Orange, shall be the venue and exclusive proper forum in which to adjudicate any case or controversy arising either, directly or indirectly, under or in connection with the Approval or the General Terms And Conditions. EPL and
Supplier further agree that, in the event of litigation arising out of or in connection with these matters, they will not contest or challenge the jurisdiction or venue of these courts. 

  

	 	37.	Amendments – These General Terms And Conditions may not be waived, modified or amended unless expressly stated in writing signed by both parties.

	 	38.	Severability – If any provision of the Approval Letter or the General Terms And Conditions, or any related agreement may be construed in two ways, one of which would
render the provision illegal or otherwise voidable and unenforceable and the other of which would render the provision valid and enforceable, such provision shall have the meaning which renders it valid and enforceable. The language of all
provisions of these agreements shall be construed according to its fair meaning and not strictly against EPL or Supplier. It is the intention of the parties that the provisions of these agreements be enforced to the fullest extent. In the event that
any court shall determine that any provision in these agreements is unenforceable as written, the parties agree that the provision shall be amended so that it is enforceable to the fullest extent permissible under the law. The provisions of these
agreements are severable and they shall be interpreted and enforced as if all completely invalid or unenforceable provisions were not contained in these agreements. Partially valid and enforceable provisions shall be enforced to the extent that they
are partially valid and enforceable. 

  

	 	39.	Survival – Any provision of these Terms And Conditions which imposes, whether expressly or by its nature, upon either party an obligation after termination or expiration
of the related agreement shall survive termination or expiration thereof and be binding upon either party. 

  

	 	40.	Interpretation – Paragraph captions are used only for convenience and are in no way to be construed as a part of these Terms and Conditions or as a limitation of the
scope of the particular paragraphs to which they refer. Words of any gender used in the Terms and Conditions shall include any other gender, and words in the singular shall include the plural where the context requires. 

  

	 	41.	Binding Effect And Assignment – This Agreement represented by the Approval and the General Terms and Conditions of Supply shall be binding upon the parties, their
successors, heirs and assigns, provided that it shall not be assigned or transferred in whole or in part by Supplier without the express written consent of EPL. 

  

	 	42.	Integration Clause – These General Terms And Conditions shall together with the Approval Letter, constitute the entire agreement between EPL and Supplier with respect to
the Approval and shall, when effective supersede any and all prior negotiations, understandings, and/or agreements, oral or written, between the parties hereto with respect to the subject matter hereof. 

  

									
	EL POLLO LOCO, INC.	 	 	 	 
					
	 By:
	 	/s/    Stephen E. Lash	 	 	 	 By:
	 	 
	 	 	
	 	 	 	 	 	

	 	 	 Name: Stephen E. Lash
 Title: Director, Supply Chain
Management
	 	 	 	 	 	 Name:
 Title:

 EPL STANDARD TERMS AND CONDITIONS 
 FOR SUPPLIER PURCHASE AGREEMENT 
  

	1.	This EPL Standard Terms and Conditions for Supplier Purchase Agreement (the “Standard Terms”) shall govern the sale of products hereunder. In addition, Seller acknowledges
receipt of Buyer’s General Terms and Conditions of Supply (the “Approval Agreement”) and agrees that the Approval Agreement shall also govern the sale of products hereunder. Additional or inconsistent terms set forth in any Purchase
Order Acknowledgment, Commercial Agreement or similar document (the “Purchase Agreement”) provided by Seller to Buyer are rejected and Seller and Buyer agree that such additional or inconsistent terms shall not govern the sale of products
hereunder. These Standard Terms shall be attached to and made a part of any Purchase Agreement, Commercial Agreement or similar document provided by Seller to Buyer. 

  

	2.	Time is of the essence of this Agreement. Seller recognizes, acknowledges and agrees that it is the essence of the Purchase Agreement that Seller provide an uninterrupted supply of
the product and that Seller timely deliver the product to the recipient or recipients designated by Buyer. Seller acknowledges and agrees that El Pollo Loco® restaurants must not have their supply of this product interrupted in any unreasonable fashion. With this in mind, Seller agrees to utilize
its best efforts to ensure that there is no interruption in the regular and customary supply of products to these restaurants and further agrees that the El Pollo Loco® restaurant system shall have priority in the supply of these products in the event of a product shortage.

  

	3.	In the event that Seller, in order to ensure the uninterrupted supply of the product to the El Pollo Loco® restaurant system, must produce or store the products at facilities other than those currently approved for the
production or storage of El Pollo Loco® products,
then Buyer reserves the right to determine whether such facilities and products meet the Buyer’s standards and requirements and Seller agrees to promptly correct any and all deficiencies in connection therewith. 

  

	4.	No right, title, or interest in this Agreement may be assigned by Seller without the prior written approval of Buyer, which approval may be withheld in Buyer’s sole discretion.

  

					
	 	  	Seller’s Initials	  	/s/ 
	 	 	 	 	

	 	  	Buyers Initials	  	/s/ 
	 	 	 	 	

  

 13 

	5.	The terms of this Purchase Agreement may not be modified or terminated orally or modified by language contained in any confirmation of sale utilized by Seller and no modification or
termination or claimed waiver of any of the provisions hereof shall be binding unless in writing and signed by a duly authorized representative of Buyer. 

  

	6.	All items which are the subject of this Purchase Agreement must comply with the appropriate specifications. In no event shall Buyer be required to accept or pay for any item that
does not meet the required specifications. 

  

	7.	This Agreement shall be governed by the Uniform Commercial Code as adopted in the State of California. 

  

	8.	This Agreement shall be governed by the laws of the State of California without regard to its conflict of laws provisions. 

  

	9.	All capitalized terms used herein and not otherwise defined herein shall have the same meaning ascribed to them in the Purchase Agreement to which these Standard Terms are attached.

  

					
	 	  	Seller’s Initials	  	/s/ 
	 	 	 	 	

	 	  	Buyers Initials	  	/s/ 
	 	 	 	 	

  

 14

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