Document:

Exhibit
      10.30

     

    Independent
      Director Compensation

     

    EPL
      Intermediate, Inc. pays its independent directors a cash fee of $2,500 per
      day
      for attendance at meetings of the board of directors. Members of the audit
      committee and compensation committee who are independent directors receive
      the
      following fees for attending committee meetings that are held on days other
      than
      days when the board of directors meets: $2,000 per meeting to the Chairperson;
      $1,000 per meeting to other members.Exhibit
      10.35

    
 

    PAYMENT
      AND SUBSCRIPTION AGREEMENT

     

    This
      Payment and Subscription Agreement (the "Agreement") is made and entered into
      as
      of December 19, 2007 among El Pollo Loco, Inc. (the "Company"), a Delaware
      corporation, Chicken Acquisition Corp. ("CAC"), a Delaware corporation, and
      Trimaran Fund II, LLC ("Purchaser"), a Delaware limited liability
      company.

     

    WHEREAS,
      the Company is required to post a bond (the "Bond") securing its obligation
      to
      pay a judgment (the "Judgment") in connection with the El Pollo Loco S.A. de
      C.V. v. El Pollo Loco, Inc. litigation (the "Litigation"); 

     

    WHEREAS,
      the Purchaser agrees to assist the Company in posting the Bond in consideration
      for the Company and CAC entering into this Agreement and a Fee Agreement (the
      "Fee Agreement"), dated the date hereof, among the Purchaser, the Company and
      CAC, pursuant to which the Company or CAC, as the case may be, shall pay
      Purchaser specified fees in respect of the services Purchaser is providing
      to
      the Company in posting the Bond; and

     

    WHEREAS,
      in the event that Purchaser pays, directly or indirectly, any amounts (the
      aggregate of such amounts, the "Investment Amount") relating to the Bond or
      the
      Judgment, including any costs and expenses of Purchaser related to this
      Agreement or the Fee Agreement, any amounts pursuant to the Reimbursement
      Agreement (as defined in the Fee Agreement) or relating to any cash collateral
      provided thereunder, Purchaser shall be reimbursed for the Investment Amount
      pursuant to this Agreement.

     

    NOW,
      THEREFORE, in consideration of the mutual promises, covenants, representations
      and warranties herein contained, the Company, CAC and Purchaser hereby agree
      as
      follows:

     

    1.  Bond
      Posting; Payment or Subscription.
      

     

    (a)  Bond
      Posting.
      On the
      date hereof, Purchaser shall cause the Letter of Credit (as defined in the
      Reimbursement Agreement) to be issued to secure the Bond being posted on behalf
      of the Company. 

     

    (b)  Payment
      or Subscription.
      At the
      Closing (as
      defined below)
      upon the terms and subject to the conditions set forth in this Agreement, in
      consideration for Purchaser's payment of the Investment Amount, at Purchaser's
      option:

     

    (i)  the
      Company or CAC shall pay Purchaser or Purchaser's designee an amount in cash
      equal to up to the Investment Amount;

     

    (ii)  the
      Company or CAC, at Purchaser's option, shall issue to Purchaser or
      Purchaser's designee a promissory note with a principal amount equal to up
      to
      the Investment Amount containing terms substantially similar to those set forth
      in Exhibit A hereto, subject to applicable preemptive rights as described
      below;

     

    
      
         

      

      
        
        

        
          

        

      

      
         

      

       

    

    (iii)  Purchaser
      or Purchaser's designee shall automatically, and with no further action by
      any
      party hereto, have a right of payment due immediately from the Company or CAC,
      at Purchaser's option, for payment in full of an amount equal to up to the
      Investment Amount, accruing interest at a rate of 13.25% per annum, compounded
      annually, which rate shall increase by 0.50% per calendar quarter (with the
      first such increase occurring at the beginning of the second calendar quarter
      after the Closing) up to a maximum rate of 17.5% per annum;

     

    (iv)  CAC
      shall
      issue to Purchaser or Purchaser's designee shares of Convertible Preferred
      Stock, par value $0.01 per share (the "Convertible Preferred Stock"), in CAC
      at
      a price per share and on terms substantially similar to those set forth in
      Schedule B hereto in an aggregate issue price equal to up to the Investment
      Amount, subject to applicable preemptive rights as described below;

     

    (v)  CAC
      shall
      issue to Purchaser or Purchaser's designee shares of common stock, par value
      $0.01 per share (the "Common Stock"), of CAC at a price per share as set forth
      in Schedule C hereto in an aggregate amount equal to up to the Investment
      Amount, subject to applicable preemptive rights as described below;
      or

     

    (vi)  Purchaser
      may choose any combination of (i) through (v) above for an aggregate amount
      equal to up to the Investment Amount; 

     

    provided that,
      Purchaser may choose options (i) through (vi) only to the extent that such
      options do not result in a default under the terms of the Company's or CAC's
      outstanding indebtedness at the time of the Closing; provided further
      that any
      Issuance (as defined below), including any issuance pursuant to Section 1(c)
      below, to a party to the LLC Operating Agreement (as defined below) shall be
      held, at Purchaser's option, either: (i) directly by the purchasing stockholder
      or (ii) through Trimaran Pollo Partners, LLC. For purposes of this Agreement,
      the "Payment" shall mean any of (i) through (vi) above.

     

    (c)  Preemptive
      Rights.
      Any
      issuance of shares or debt securities under this Agreement or the Fee Agreement
      (each, an "Issuance") pursuant to Sections 1(b)(ii), (iv), (v) or (vi) above
      shall be subject to applicable preemptive rights pursuant to the Stockholders
      Agreement (the "Stockholders Agreement"), dated November 18, 2005, by and among
      CAC and the stockholders listed therein, and the Second Amended and Restated
      Limited Liability Company Operating Agreement (the "LLC Operating Agreement"),
      dated March 8, 2006, of Trimaran Pollo Partners, LLC. To the extent any parties
      to such agreements elect to exercise applicable preemptive rights with respect
      to any Issuance, at Purchaser's option:

     

    (i)  upon
      such
      Issuance, Purchaser shall sell to each party who has duly applicable exercised
      preemptive rights the number of shares or debt securities (or
      pro
      rata portion of such debt security, as the case may be) as to which such
      preemptive rights have been exercised at a price per share or per debt security
      equal to the price per share or per debt security in the Issuance; or

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    (ii)  CAC
      shall
      (A) repurchase from Purchaser the number of shares or debt securities as to
      which such preemptive rights have been duly exercised at a price per share
      or
      per debt security equal to the price per share in the Issuance and (B) sell
      such
      shares or debt securities to each party who has duly exercised applicable
      preemptive rights.

     

    (d)  Closing.
      The
      closing (the "Closing") of the Payment shall take place no later than five
      days
      after all of the conditions set forth in Section 3 of this Agreement have been
      satisfied or waived (other than those conditions which by their terms are
      intended to be satisfied at the Closing) at the offices of Skadden, Arps, Slate,
      Meagher & Flom LLP, Four Times Square, New York, New York 10036, or on such
      other date as mutually agreed by the parties to this Agreement.

     

    (e)  Blue
      Sky Compliance.
      The
      Company, Purchaser and CAC shall comply with all state securities or "blue
      sky"
      laws which are applicable to the Payment hereunder, and Purchaser agrees to
      provide the Company and CAC with such information, and cooperate with such
      filings, as may be required in connection with such compliance. 

     

    (f)  Stockholders
      Agreement.
      If
      shares of capital stock are to be issued pursuant to this Agreement or the
      Fee
      Agreement, (i) the Purchaser or Purchaser's designee, as applicable, shall,
      if
      necessary, execute a Joinder (the "Joinder") to the Stockholders Agreement
      pursuant to which Purchaser or Purchaser's designee, as applicable, becomes
      a
      party to the Stockholders Agreement as an Additional Stockholder (as defined
      in
      the Stockholders Agreement) and bound by the provisions thereto and (ii) CAC
      shall cause such amendments to the Stockholders Agreement as are required
      pursuant to the terms thereto to reflect Purchaser or Purchaser's designee,
      as
      applicable, as an Additional Stockholder.

     

    (g)  Compliance
      with Indentures.
      If
      requested by Trimaran, the Company or CAC, as applicable, shall engage (at
      the
      Company or CAC's expense, as applicable) an investment banking firm of national
      standing to give an opinion as to the fairness to the Company or CAC, as the
      case may be, of the transactions contemplated by this Agreement. Each of the
      Company and CAC shall use best efforts to comply with Section 4.11 of the
      Indenture, dated as of November 18, 2005, among El Pollo Loco, Inc. (as
      successor to EPL Finance Corp. by merger), EPL Intermediate, Inc. and The Bank
      of New York Trust Company, N.A., as trustee (the "EPL Indenture") and Section
      4.11 of the Indenture, dated as of November 18, 2005, between EPL Intermediate,
      Inc. (as successor to EPL Intermediate Finance Corp. by merger) and The Bank
      of
      New York Trust Company, N.A., as trustee (the "Intermediate Indenture" and,
      together with the EPL Indenture, the Indentures), to the extent applicable,
      including by delivering an officer's certificate or fairness opinion if
      required; provided that, if either the Company or CAC are unable to so comply
      with the Indentures, this Agreement shall be modified by the parties but only
      to
      the extent required to so comply with the Indentures.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    2.  Representations
      and Warranties and Other Agreements.

     

    (a)  Representations
      and Warranties and Agreements of Purchaser.
      Purchaser represents and warrants to, and agrees with, the Company and CAC
      that,
      as of the date hereof and as of the Closing:

     

    (i)  Any
      shares of capital stock (the "Shares"), notes or obligations acquired by
      Purchaser pursuant to this Agreement (collectively with the Shares,
      "Securities") are for Purchaser's own account for investment purposes or to
      satisfy preemptive rights pursuant to the Stockholders Agreement or the LLC
      Operating Agreement and not with a view to distribution of the Securities or
      for
      sale in violation
      of the Securities Act of 1933, as amended, and the rules and regulations in
      effect from time to time thereunder (the "Securities Act") or other applicable
      law; provided that the disposition of Purchaser's property shall at all times
      be
      within Purchaser's control.

     

    (ii)  Purchaser
      has been advised by the Company and CAC that: (A) neither the offer nor
      sale of any Securities has been registered under the Securities Act or any
      state
      or foreign securities or "blue sky" laws and neither the Company nor CAC is
      required to register the Securities; (B) the Securities, when issued, are
      characterized as "restricted securities" under the Securities Act as they are
      being acquired from CAC in a transaction not involving a public offering and
      that Purchaser may not resell the Securities and must continue to bear the
      economic risk of the investment in its Securities unless the offer and sale
      of
      the Securities is subsequently registered under the Securities Act and all
      applicable state or foreign securities or "blue sky" laws or an exemption from
      such registration is available; (C) it is not anticipated that there will
      be any public market for the Securities in the foreseeable future; (D) when
      and if the Securities may be disposed of without registration under the
      Securities Act in reliance on Rule 144, such disposition can be made only in
      limited amounts in accordance with the terms and conditions of such Rule;
      (E) if the Rule 144 exemption is not available, public offer or sale of any
      Securities without registration will require the availability of another
      exemption under the Securities Act; (F) a restrictive legend in the form
      satisfactory to CAC shall be placed on the certificates representing the
      Securities; and (G) a notation shall be made in the appropriate records of
      CAC indicating that the Securities are subject to restrictions on transfer
      and,
      if CAC should engage the services of a stock transfer agent, appropriate stop
      transfer restrictions will be issued to such stock transfer agent. 

     

    (iii)  Purchaser
      is an "accredited investor" as defined in the Securities Act and Purchaser
      has
      such knowledge, skill and experience in business, financial and investment
      matters so that Purchaser is capable of evaluating the merits, risks and
      consequences of an investment in the Securities to be purchased by it and is
      able to bear the economic risk of the loss of its investment.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    (iv)  Purchaser
      is duly organized, validly existing and in good standing under the laws of
      its
      jurisdiction of organization. 

     

    (v)  Purchaser
      has all the requisite power and authority to execute and deliver this Agreement
      and to perform its obligations hereunder. 

     

    (vi)  This
      Agreement has been duly and validly authorized, executed and delivered by
      Purchaser.

     

    (vii)  This
      Agreement constitutes the valid, binding and enforceable agreement of Purchaser
      except as enforceability may be limited by (A) applicable bankruptcy,
      insolvency, reorganization, moratorium, fraudulent conveyance or other similar
      laws relating to or affecting creditor’s rights generally and (B) general
      principles of equity (regardless of whether such enforceability is considered
      in
      a proceeding in equity or at law).

     

    (viii)  The
      execution, delivery and performance by Purchaser of this Agreement does not
      and
      will not (A) violate any provision of Purchaser's organizational documents,
      (B) constitute or result in a breach of or a default (or an event which,
      with notice or lapse of time, or both, has the potential of constituting a
      default) under any agreement to which Purchaser is a party, (C) violate any
      law binding upon Purchaser or to which any of its assets are subject or
      (D) require the consent of any third party or governmental body or agency,
      except with respect to clauses (B), (C) and (D) above, as would not reasonably
      be expected to have a material adverse effect on Purchaser.

     

    (b)  Representations
      and Warranties of the Company and CAC.
      Each of
      the Company and CAC (each, as "Representing Party") represents and warrants,
      as
      to itself, to Purchaser that, as of the date hereof and as of the
      Closing:

     

    (i)  The
      Representing Party is a corporation duly organized, validly existing and in
      good
      standing
      under the laws of the State of Delaware.

     

    (ii)  The
      Representing Party has the requisite corporate power and authority to execute
      and deliver this Agreement and to perform its obligations hereunder.

     

    (iii)  This
      Agreement has been duly and validly authorized, executed and delivered by the
      Representing Party. 

     

    (iv)  This
      Agreement constitutes the valid, binding and enforceable agreement of the
      Representing Party, except as such enforceability may be limited by
      (A) applicable bankruptcy, insolvency, reorganization, moratorium,
      fraudulent conveyance or other similar laws relating to or affecting creditors’
rights generally and (B) general principles of equity (regardless of
      whether such enforceability is considered in a proceeding in equity or at
      law).

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    (v)  The
      execution, delivery and performance by the Representing Party of this Agreement
      does not and will not (A) violate any provision of the Representing Party’s
      Certificate of Incorporation or By-laws, (B) constitute or result in a
      breach of or a default (or an event which, with notice or lapse of time, or
      both, has the potential of constituting a default) under any agreement to which
      the Representing Party is a party, (C) violate any law binding upon the
      Representing Party or to which any of its assets are subject or (D) require
      the consent of any third party or governmental body or agency.

     

    (vi)  The
      Shares, upon issuance by CAC pursuant to this Agreement, will be duly
      authorized, validly issued, fully paid and non-assessable.

     

    (vii)  Assuming
      the accuracy of the representations set forth in Section 2 hereof, the offer
      and
      sale of the Securities is not required to be registered under the Securities
      Act. 

     

    3.  Conditions
      to Performance.

     

    (a)  Conditions
      to the Company and CAC's Obligations.
      The
      Company and CAC’s obligation to consummate the Closing is subject to
      satisfaction or waiver by the Company and CAC of the following conditions:
      (i)
      Purchaser or Purchaser's representative shall have paid the Investment Amount,
      (ii) Purchaser shall have provided notice to the Company and CAC of the form
      of
      Payment pursuant to Section 1(b) of this Agreement, and (iii) if any Shares
      are
      to be issued at the Closing, Purchaser or Purchaser's designee, as applicable,
      shall have executed the Joinder, if necessary.

     

    (b)  Conditions
      to Purchaser's Obligations.
      The
      obligation of Purchaser to consummate the Closing is subject to satisfaction
      or
      waiver by Purchaser of the following conditions: (i) the performance by the
      Company and CAC at or prior to the Closing of all of the agreements of the
      Company contemplated to be performed hereunder at or prior to the Closing,
      (ii)
      the accuracy of the representations and warranties of the Company and CAC
      contained in Section 2 hereof, (iii) no statute, rule, regulation or order
      of
      any court or administrative agency being in effect which prohibits the Company,
      CAC or Purchaser from consummating the transactions contemplated hereby, (iv)
      the Company or CAC, as the case may be, shall have delivered to Purchaser,
      in
      form reasonably acceptable to Purchaser, all documents evidencing the Payment,
      (v) the Company shall have delivered to Purchaser evidence, in form reasonably
      acceptable to Purchaser, of termination of the Bond and (vi) if any Shares
      are
      to be issued at the Closing, CAC shall have executed the Joinder and any
      applicable amendments to the Stockholders Agreement.

     

    4.  Survival.
      The
      representations and warranties of the parties set forth in this Agreement shall
      survive the Closing.

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    5.  Binding
      Effect.
      The
      provisions of this Agreement shall be binding upon and shall inure to the
      benefit of the parties hereto and the heirs, successors and assigns of the
      parties hereto.

     

    6.  Fees
      and Expenses.
      Each of
      the Company and CAC shall bear its own costs and expenses, and the Company
      shall
      bear the costs and expenses of Purchaser, in connection with the negotiation,
      execution and delivery of this Agreement and the other documents related
      hereto.

     

    7.  Assignment.
      None of
      the parties to this Agreement shall assign any rights under this Agreement
      without the prior written consent of the other parties hereto; provided that
      Purchaser may assign its rights and obligations under this Agreement to any
      affiliate of Purchaser (including any investor participating in Purchaser's
      investment program) without the consent of any party hereto, provided that
      such
      assignment shall not relieve Purchaser of its obligations under this Agreement.
      Except as expressly set forth in this Agreement, this Agreement shall inure
      to
      the benefit of, and be binding upon, the permitted successors and assigns of
      each of the parties to this Agreement. Except as provided in this Section 7,
      any
      attempted assignment under this Agreement by any party to this Agreement which
      has not been consented to by the other parties shall be void. 

     

    8.  Applicable
      Law.
      THIS
      AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
      THE
      STATE OF NEW YORK.

     

    9.  Invalidity
      of Provisions.
      The
      invalidity or unenforceability of any provision of this Agreement in any
      jurisdiction shall not affect the validity or enforceability of the remainder
      of
      this Agreement in that jurisdiction or the validity or enforceability of this
      Agreement, including that provision, in any other jurisdiction.

     

    10.  Headings;
      Execution in Counterparts.
      The
      headings and captions contained herein are for convenience of reference only
      and
      shall not control or affect the meaning or construction of any provision hereof.
      This Agreement may be executed in counterparts, each of which shall be deemed
      to
      be an original and all of which together shall constitute but one and the same
      instrument.

     

    11.  Notices.
      All
      notices and other communications provided for herein shall be dated and in
      writing and shall be deemed to have been duly given when delivered, if delivered
      personally or sent by registered or certified mail, return receipt requested,
      postage prepaid and when received if delivered otherwise, to the party to whom
      it is directed:

     

    If
      to The
      Company:

     

    El
      Pollo
      Loco, Inc.

    c/o
      EPL
      Intermediate, Inc.

    3535
      Harbor Blvd., Suite 100

    Costa
      Mesa, CA 92628

    Attn:
      Jerry Lovejoy, Esq.

    Telephone:
      714-599-5085

    Fax:
      714-599-5563

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

    If
      to
      CAC:

     

    Chicken
      Acquisition Corp.

    c/o
      EPL
      Intermediate, Inc.

    3535
      Harbor Blvd., Suite 100

    Costa
      Mesa, CA 92628

    Attn:
      Jerry Lovejoy, Esq.

    Telephone:
      714-599-5085

    Fax:
      714-599-5563

    

    In
      either
      case, with a copy to:

    

    Pepper
      Hamilton LLP

    Hamilton
      Square

    600
      Fourteenth Street, N.W.

    Washington,
      DC 20005

    Attn:
      Robert B. Murphy, Esq.

    Telephone:
      202-220-1454

    Fax:
      202-220-1665

    

    If
      to
      Purchaser:

    

    Trimaran
      Fund II, LLC

    c/o
      Trimaran Fund Management, L.L.C.

    1325
      Avenue of the Americas, 34th
      Floor

    New
      York,
      New York 10019

    Attn:
      Alberto Robaina

    Telephone:
      212-885-4735

    Fax:
      212-885-4350

     

    With
      a
      copy to:

     

    Skadden,
      Arps, Slate, Meagher & Flom LLP

    Four
      Times Square

    New
      York,
      NY 10036-6522

    Attn:
      Eileen T. Nugent

    Thomas
      W.
      Greenberg

    Fax:
      212-735-2000

    

    or
      at
      such other address as such party shall have specified by notice in writing
      to
      the other parties in accordance with this Section 11.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    12.  Termination.
      This
      Agreement shall terminate upon the earlier of (i) issuance of a final
      non-appealable Judgment or termination of the Litigation, in each case, pursuant
      to which Purchaser is not obligated to pay any amount and (ii) mutual agreement
      of the parties to this Agreement.

     

    13.  Amendment.
      This
      Agreement may not be amended, modified or supplemented and no waivers of or
      consents to departures from the provisions hereof may be given unless consented
      to in writing by each party to this Agreement. Unless otherwise specified in
      such waiver or consent, a waiver or consent given hereunder shall be effective
      only in the specific instance and for the specific purpose for which given.
      No
      failure or delay by the parties to this Agreement in exercising any right
      hereunder or under the Fee Agreement shall operate as a waiver
      thereof.

     

    14.  Entire
      Agreement.
      The
      parties agree that this Agreement and the Fee Agreement contain the entire
      understanding among the parties hereto relating to the matter
      hereof.

     

    15.  Third
      Party Beneficiaries.
      Nothing
      expressed or implied in this Agreement is intended or shall be construed to
      confer upon or give to any third party any rights or remedies against any party
      hereto.

     

    16.  Specific
      Performance.
      The
      parties acknowledge and agree that any breach of the terms of this Agreement
      would give rise to irreparable harm for which money damages would not be an
      adequate remedy and accordingly the parties agree that, in addition to any
      other
      remedies, each party shall be entitled to enforce the terms of this Agreement
      by
      a decree of specific performance without the necessity of proving the inadequacy
      of money damages as a remedy.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the Company, CAC and Purchaser have executed this Agreement
      as
      of the date first above written.

    
      	 	 	 
	 	EL POLLO LOCO, INC.
	 
 	 
 	 
 
	
            	By:  	/s/ Joseph
              N.
              Stein
	 	
              
Name:
              Joseph N. Stein
	 	Title: Chief Financial
              Officer

    

    
      	 	 	 
	 	CHICKEN
              ACQUISITION CORP.
	 
 	 
 	 
 
	
            	By:  	/s/ Dean
              C.
              Kehler
	 	
              
Name:
              Dean C. Kehler
	 	Title: Vice President

      	 	 	 
	 	TRIMARAN
              FUND II,
              LLC
	 
 	 
 	 
 
	
            	By:  	/s/ Dean
              C.
              Kehler
	 	
              
Name:
              Dean C. Kehler
	 	Title:

    

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    SCHEDULE
      A

    

    Promissory
      Note

    Term
      Sheet

    

    
      	
              Issuer

            	 	
              CAC
                or the Company, at Purchaser's option

            
	 	 	 
	
              Term

            	 	
              2
                Years

            
	 	 	 
	
              Principal
                Amount

            	 	
              As
                elected pursuant to Section 1(b) of the Payment and Subscription
                Agreement.

            
	 	 	 
	
              Interest

            	 	
              13.25%
                compounded annually, which rate shall increase by 0.50% per calendar
                quarter (with the first such increase occurring at the beginning
                of the
                second calendar quarter after Closing) up to a maximum rate of 17.5%
                per
                annum. Interest shall be paid quarterly at Purchaser's option, either
                in:
                (i) cash, (ii) a promissory note having substantially similar terms
                to
                those set forth in this Exhibit A (iii) Convertible Preferred Stock
                of CAC
                at a price of $43.22 per share on terms substantially similar to
                those set
                forth in Exhibit B of the Payment and Subscription Agreement, or
                (iv)
                Common Stock of CAC at a price of $43.22 per share.

            
	 	 	 
	
              Conversion

            	 	
              The
                outstanding principal amount of the promissory note plus any accrued
                but
                unpaid interest shall be convertible, in whole or in part, into,
                at
                Purchaser's option, (i) shares of Convertible Preferred Stock of
                CAC, at a
                price of $43.22 per share on terms substantially similar to those
                set
                forth in Exhibit B of the Payment and Subscription Agreement, or
                (ii)
                Common Stock of CAC at a price of $43.22 per share.

            
	 	 	 
	
              Covenants/Defaults

            	 	
              Cross
                default with credit agreement and
                bonds.

            

    

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    SCHEDULE
      B

     

    Convertible
      Preferred Stock

    Term
      Sheet

    

    
      	
              Issuer

            	 	
              CAC

            
	 	 	 
	
              Security

            	 	
              Convertible
                Preferred Stock

            
	 	 	 
	
              Original
                Issue Price

            	 	
              $43.22
                per share. For purposes of this Term Sheet, the aggregate price for
                all
                shares of Convertible Preferred Stock issued shall be the "Preferred
                Investment Amount."

            
	 	 	 
	
              Voting
                Rights

            	 	
              Right
                to vote with the Common Stock on an As-Converted Basis. See Protective
                Covenants below.

            
	 	 	 
	
              Dividend

            	 	
              Each
                share of Convertible Preferred Stock will accrue a dividend, to be
                paid
                quarterly, equal to 13.25% per annum of the Original Issue Price,
                compounded annually, which rate shall increase by 0.50% per calendar
                quarter (with the first such increase occurring at the beginning
                of the
                second calendar quarter after the issuance of such share of Convertible
                Preferred Stock) up to a maximum rate of 17.5% per annum. 

               

              The
                Convertible Preferred Stock will participate on an As-Converted Basis
                in
                any dividends paid on the Common Stock.

            
	 	 	 
	
              "As
                Converted Basis"

            	 	
              "As-Converted
                Basis" means that Purchaser will for the relevant purpose be deemed
                to
                hold the number of shares of Common Stock that it would be entitled
                to
                receive if its Convertible Preferred Stock had been converted to
                Common
                Stock pursuant to its conversion right on or prior to the relevant
                date.

            
	 	 	 
	
              Liquidation
                Preference

            	 	
              Convertible
                Preferred Stock shall have a liquidation preference to Common Stock
                equal
                to the greater of its Original Issue Price or what the Convertible
                Preferred Stock would receive on an As Converted Basis upon liquidation.
                

            
	 	 	 
	
              Conversion

            	 	
              Each
                share of Convertible Preferred Stock will be convertible at any time
                into,
                at Purchaser's option, (i) a number of shares of Common Stock equal
                to the
                quotient of the Original Issue Price plus any accrued but unpaid
                dividends
                for the Convertible Preferred Stock divided by 43,22, subject to
                anti-dilution protection or (ii) a Promissory Note for an amount
                equal to
                the aggregate Original Issue Price for any shares of Convertible
                Preferred
                Stock so converted plus the aggregate of any accrued and unpaid dividends
                on such shares of Convertible Preferred Stock on terms substantially
                similar to those set forth in Exhibit B to the Payment and Subscription
                Agreement.

            
	 	 	 

    

     

    
      
         

      

      
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              Anti-Dilution
                Protection

            	 	
              Customary
                weighted average anti-dilution adjustments.

            
	 	 	 
	
              Ranking

            	 	
              Subordinated
                and junior to indebtedness, senior to all other capital
                stock.

            
	 	 	 
	
              Protective
                Covenants

            	 	
              Customary
                protective covenants, including: The consent of the holders of Convertible
                Preferred Stock will be required for any action that would (i) alter
                the
                rights, preferences or privileges of the Convertible Preferred Stock;
                (ii)
                amend any provision of CAC's certificate of incorporation or by-laws
                relative to the Convertible Preferred Stock; (iii) increase or decrease
                the number of issued or authorized shares of Convertible Preferred
                Stock;
                (iv) create any series or class of shares having a preference or
                priority
                as to dividends or assets superior to or on a parity with that of
                the
                Convertible Preferred Stock, (v) constitute a sale, lease, pledge
                or other
                disposal of all or substantially all the assets of CAC or a merger,
                reorganization or similar transaction, or (vi) constitute a repurchase
                or
                redemption of other equity securities. 

            
	 	 	 
	
              Registration
                Rights

            	 	
              Customary
                rights, as set forth in the Stockholders Agreement.

            
	 	 	 
	
              Tag-Along,
                Drag Along, Preemptive Rights, ROFR

            	 	
              Customary
                rights, as set forth in the Stockholders Agreement.
                

            

    

    

    
      
         

      

      
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    SCHEDULE
      C

    Common
      Stock

    

    $43.22
      per share.

     

    
      
         

      

      
        14

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