Document:

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                                                                    EXHIBIT 10.8

                     WARRANT REGISTRATION RIGHTS AGREEMENT

     This WARRANT REGISTRATION RIGHTS AGREEMENT (this "Agreement") is made and
                                                       ---------
entered into as of this ____ day of ____________ 2000, by and among Sizzler
International, Inc., a Delaware corporation (the "Company"), and FFPE Holding
                                                  -------
Company, Inc., a Delaware corporation (the "Holder").
                                            ------

                                R E C I T A L S
                                - - - - - - - -

     A.   The Company is acquiring 82% of all of the outstanding membership
interests (the "Units") in FFPE Company, LLC, a Delaware limited liability
                -----
company (the "New Company"), on the terms and subject to the conditions of the
              -----------
LLC Membership Interest Purchase Agreement dated May 23, 2000 (the "Purchase
                                                                    --------
Agreement"), by and among Lender, S & C Company, Inc., a California corporation
---------
(the "Old Company"), the New Company, Holder, the shareholders of the Old
      -----------
Company, and certain principals of the Old Company.

     B.   In consideration of the Units, among other things, the Company is
issuing and delivering to the Holder warrants to purchase an aggregate of
1,250,000 shares of Common Stock of the Company pursuant to the terms of one or
more Warrants dated of even date herewith (as amended, augmented, supplemented
or otherwise modified from time to time, the "Warrants"). Capitalized terms used
                                              --------
herein but which are not otherwise defined shall have the meanings given to such
terms in the Warrant.

     C.   The execution and delivery of this Agreement by the Company is a
condition precedent to the obligations of the Shareholders to consummate the
transactions contemplated by the Stock Purchase Agreement

                               A G R E E M E N T
                               - - - - - - - - -

     In consideration of the foregoing recitals and the mutual covenants and
conditions contained herein, the parties, intending to be legally bound, agree
as follows:

     1.   Definitions. As used in this Agreement, the following capitalized
terms shall have the following meanings:

          "Act" means the Securities Act of 1933, as amended, and the rules and
           ---
regulations of the SEC thereunder, all as the same shall be in effect at the
time.

          "Affiliate" has the meaning set forth in Rule 144 of the Act.
           ---------

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     "Business Day" means any day except a Saturday, Sunday or other day in Los
      ------------
Angeles, California on which banks are authorized to close.

     "Closing Date"  means the date of this Agreement.
      ------------

     "Common Stock" means the common stock, $0.01 par value per share, of the
      ------------
Company.

     "Exchange Act" means the Securities Exchange Act of 1934, as amended, and
      ------------
the rules and regulations of the SEC thereunder, all as the same shall be in
effect at the time.

     "Holders" has the meaning set forth in Section 2, below.
      -------

     "Initiating Holders" means the holders of a majority of Registrable
      ------------------
Securities.

     "Person" means any individual, corporation, partnership, joint venture,
      ------
association, limited liability company, joint-stock company, trust,
unincorporated organization, government or any agency or political subdivision
thereof or any other entity.

     "Piggy-Back Registration" has the meaning set forth in Section 5, below.
      -----------------------

     "Prospectus" means the prospectus included in a Registration Statement at
      ----------
the time such Registration Statement is declared effective, as amended or
supplemented by any prospectus supplement and by all other amendments thereto,
including post-effective amendments, and all material incorporated by reference
into such Prospectus.

     "Public Equity Offering" means a public offering of Common Stock registered
      ----------------------
under the Act (except for any registration pursuant to Form S-8).

     "Register," "registered" and "registration" means a registration effected
      --------    ----------       ------------
by preparing and filing a registration statement or similar document in
compliance with the requirements of the Act, and the applicable rules and
regulations promulgated thereunder, and such registration statement becoming
effective.

     "Registrable Securities" means any (i) Warrant Shares (whether or not the
      ----------------------
related Warrants have been exercised), and (ii) any other securities issued or
issuable with respect to any such Warrant Shares by way of stock dividends or
stock split or in connection with a combination of shares, recapitalization,
merger, consolidation or other reorganization or otherwise.  As to any
particular Registrable Securities, such securities shall cease to be Registrable
Securities when such securities are no longer Transfer Restricted Securities or
such securities shall have ceased to be outstanding.

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     "Registration Expenses" means all expenses incident to the Company's
      ---------------------
performance of or compliance with this Agreement.

     "Registration Statement" means any registration statement, including,
      ----------------------
without limitation, any short-form or shelf registration statement described
herein, of the Company relating to the registration for resale of Transfer
Restricted Securities that is filed pursuant to the provisions of this Agreement
and including the Prospectus included therein, all amendments and supplements
thereto (including post-effective amendments) and all exhibits and all material
incorporated by reference therein.

     "SEC" means the Securities and Exchange Commission.
      ---

     "Selling Holder" means a Holder who is selling Registrable Securities in
      --------------
accordance with the provisions of this Agreement.

     "Shelf Registration" has the meaning set forth in Section 4, below.
      ------------------

     "Special Counsel" means any special counsel to the Holders, for which
      ---------------
Holders will be reimbursed pursuant to this Agreement.

     "Transfer Restricted Securities" means each Warrant or Warrant Share, until
      ------------------------------
the earliest to occur of:  (i) the date on which such Warrant or Warrant Share
has been effectively registered under the Act and disposed of in accordance with
the Registration Statement covering it (and the purchasers thereof have been
issued a registered freely tradable security) and (ii) the date on which such
Warrant or Warrant Share is distributed to the public pursuant to Rule 144 under
the Act.

     "Warrants" means the Warrants described in the recitals. Such Warrants
      --------
shall also include: (i) any new warrant or warrants issued upon the transfer of
all or any portion of the warrant issued pursuant to the Purchase Agreement, and
(ii) any warrant or warrants issued in substitution or replacement therefor or
upon the further transfer, division or combination of any such new warrant or
warrants.

     "Warrant Shares" means the Common Stock or other securities which any
      --------------
Holder may acquire upon exercise of a Warrant, together with any other
securities which such Holder may acquire on account of any such securities,
including, without limitation, as the result of any dividend or other
distribution on Common Stock or any split-up of such Common Stock as provided
for in the Warrant Agreement.

  2. Securities Subject to this Agreement.  A Person is deemed to be a holder
of Registrable Securities (a "Holder") whenever such Person owns Registrable
                              ------
Securities or

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has the right to acquire such Registrable Securities, whether or not such
acquisition has actually been effected.

     3.   Registration Procedures.  In connection with any Shelf Registration or
Piggy-Back Registration, the Company shall (provided that it will not be
required to take any action pursuant to this Section that would, in the written
opinion of counsel for the Company, violate applicable law):

          (a)  No fewer than five Business Days prior to the initial filing of a
Registration Statement or Prospectus and no fewer than two Business Days prior
to the filing of any amendment or supplement thereto (including any document
that would be incorporated or deemed to be incorporated therein by reference),
furnish to the Holders, their Special Counsel and the managing underwriters, if
any, copies of all such documents proposed to be filed, which documents (other
than those incorporated or deemed to be incorporated by reference) will be
subject to the review of such Holders, their Special Counsel and such
underwriters, if any, and cause the officers and directors of the Company,
counsel to the Company and independent certified public accountants to the
Company to respond to such inquiries as shall be necessary, in the opinion of
respective counsel to such Holders and such underwriters, to conduct a
reasonable investigation within the meaning of the Act, and shall use its best
efforts to reflect in each such document filed pursuant to a Shelf Registration,
when so filed with the SEC, such reasonable comments as the Holders, their
Special Counsel and the managing underwriters, if any, may propose in writing;
provided, however, that the Company shall not be deemed to have kept a
--------  -------
Registration Statement effective during the applicable period if it voluntarily
takes or fails to take any action that results in Selling Holders covered
thereby not being able to sell such Registrable Securities pursuant to Federal
securities laws during that period; provided, further, the Company shall not
                                    --------  -------
file any such Registration Statement or related Prospectus or any amendments or
supplements thereto in connection with a Shelf Registration to which the Holders
of a majority of the Registrable Securities, their Special Counsel, or the
managing underwriters, if any, shall reasonably object on a timely basis;

          (b)  Take such action as may be necessary so that (i) any Registration
Statement and any amendment thereto and any Prospectus forming part thereof and
any amendment or supplement thereto (and each report or other document
incorporated herein by reference in each case) complies in all material respects
with the Act and the Exchange Act and the respective rules and regulations
thereunder, (ii) any Registration Statement and any amendment thereto does not,
when it becomes effective, contain an untrue statement of a material fact or
omit to state a material fact required to be stated therein or necessary to make
the statements therein not misleading, and (iii) any Prospectus forming part of
any Registration Statement, and any amendment or supplement to such Prospectus,
does not include an untrue statement of a material fact or omit to state a
material fact necessary in order to make the statements, in the light of the
circumstances under which they were made,

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not misleading;

          (c)  Subject to Permitted Interruptions (as defined in Section 6(b),
below), prepare and file with the SEC such amendments, including post-effective
amendments, to each Registration Statement as may be necessary to keep such
Registration Statement continuously effective for the applicable time period;
cause the related Prospectus to be supplemented by any required Prospectus
supplement, and as so supplemented to be filed pursuant to Rule 424 (or any
similar provisions then in force) under the Act; and comply with the provisions
of the Act and the Exchange Act with respect to the disposition of all
securities covered by such Registration Statement during such period in
accordance with the intended methods of disposition by the sellers thereof set
forth in such Registration Statement as so amended or in such Prospectus as so
supplemented;

          (d)  Notify the Selling Holders, their Special Counsel and the
managing underwriters, if any, promptly (and in any case within 2 Business
Days), and confirm such notice in writing, (i)(A) when a Prospectus or any
Prospectus supplement or post-effective amendment has been filed, and, (B) with
respect to a Registration Statement or any post-effective amendment, when the
same has become effective, (ii) of any request by the SEC or any other Federal
or state governmental authority for amendments or supplements to a Registration
Statement or related Prospectus or for additional information; (iii) of the
issuance by the SEC, any state securities commission, any other governmental
agency or any court of any stop order or injunction suspending or enjoining the
use or the effectiveness of a Registration Statement or the initiation of any
proceedings for that purpose, (iv) if at any time any of the representations and
warranties of either the Company contained in any agreement (including any
underwriting agreement) contemplated hereby cease to be true and correct in all
material respects, (v) of the receipt by the Company of any notification with
respect to the suspension of the qualification or exemption from qualification
of any of the Registrable Securities for sale in any jurisdiction, or the
initiation or threatening of any proceeding for such purpose, (vi) of the
happening of any event (the nature and pendency of which need not be disclosed
during a Permitted Interruption) that makes any statement made in such
Registration Statement or related Prospectus or any document incorporated or
deemed to be incorporated therein by reference untrue in any material respect or
that requires the making of any changes in such Registration Statement,
Prospectus or documents so that, in the case of the Registration Statement, it
will not contain any untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary to make the statements
therein, not misleading, and that in the case of the Prospectus, it will not
contain any untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading, and
(vii) of the Company's reasonable determination that a post-effective amendment
to such Registration Statement would be appropriate;

                                      -5-
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          (e)  Use its best efforts to avoid the issuance of, or, if issued,
obtain the withdrawal of any order enjoining or suspending the use or
effectiveness of a Registration Statement or the lifting of any suspension of
the qualification (or exemption from qualification) of any of the Registrable
Securities for sale in any jurisdiction, at the earliest practicable moment;

          (f)  If requested by the managing underwriters, if any, or the Holders
of a majority in aggregate number of the Registrable Securities being sold in
connection with such offering reasonably in advance of the filing thereof,
subject to Permitted Interruptions, (i) promptly incorporate in a Prospectus
supplement or post-effective amendment such information as the managing
underwriters, if any, and such Holders reasonably agree should be included
therein, (ii) subject to the provisions herein regarding Permitted
Interruptions, keep such registration effective and make all required filings of
such Prospectus supplement or such post-effective amendment as soon as
practicable after the Company has received notification of the matters to be
incorporated in such Prospectus supplement or post-effective amendment and (iii)
supplement or make amendments to such Registration Statement;

          (g)  Furnish to Special Counsel and each managing underwriter, if any,
without charge, at least one conformed copy of each Registration Statement and
each amendment thereto, including financial statements and schedules, all
documents incorporated or deemed to be incorporated therein by reference, and
all exhibits to the extent requested as soon as practicable after the filing of
such documents with the SEC;

          (h)  Deliver to each Selling Holder, their Special Counsel, and the
underwriters, if any, without charge, as many copies of the Prospectus or
Prospectuses (including each form of prospectus) and each amendment or
supplement thereto as such Persons reasonably request; and the Company hereby
consents to the use of such Prospectus and each amendment or supplement thereto
by each of the Selling Holders and the underwriters, if any, in connection with
the offering and sale of the Registrable Securities covered by such Prospectus
and any amendment or supplement thereto;

          (i)  Prior to any public offering of Registrable Securities, use its
best efforts to register or qualify or cooperate with the Holders of Registrable
Securities to be sold or tendered for, the underwriters, if any, and their
respective counsel in connection with the registration or qualification (or
exemption from such registration or qualification) of such Registrable
Securities for offer and sale under the securities or blue sky laws of such
jurisdictions within the United States as any Holder or underwriter reasonably
requests in writing; provided, however, that where Registrable Securities are
                     --------  -------
offered other than through an underwritten offering, the Company agrees to cause
its counsel to perform "blue sky" investigations and file registrations and
qualifications required to be filed pursuant to this Section 3(i); to use its
best efforts to keep each such registration or qualification (or

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exemption therefrom) effective during the period such Registration Statement is
required to be kept effective and to use its best efforts do any and all other
acts or things necessary or advisable to enable the disposition in such
jurisdictions of the Registrable Securities covered by such Registration
Statement; provided, however, that the Company shall not be required to qualify
           --------  -------
generally to do business in any jurisdiction where they are not then so
qualified or to take any action that would subject them to general service of
process in any such jurisdiction where they are not then so subject or subject
the Company to any tax in any such jurisdiction where it is not then so subject;

          (j)  In connection with any sale or transfer of Registrable Securities
that will result in such securities no longer being Registrable Securities,
cooperate with the Holders and the managing underwriters, if any, to facilitate
the timely preparation and delivery of certificates (with appropriate CUSIP
numbers) representing Registrable Securities to be sold, which certificates
shall not bear any restrictive legends and shall be in a form eligible for
deposit with the DTC, and to enable such Registrable Securities to be in such
denominations and registered in such names as the managing underwriters, if any,
or Holders many request at least two Business Days prior to any sale of
Registrable Securities;

          (k)  Use its best efforts to cause the offering of the Registrable
Securities covered by the Registration Statement to be registered with or
approved by such other governmental agencies or authorities within the United
States, except as may be required as a consequence of the nature of such Selling
Holder's business, in which case the Company will cooperate in all reasonable
respects at the expense of such Selling Holder with the filing of such
Registration Statement and the granting of such approvals as may be necessary to
enable the seller or sellers thereof or the underwriters, if any, to consummate
the disposition of such Registrable Securities; provided, however, that the
                                                --------  -------
Company shall not be required to register the Registrable Securities in any
jurisdiction that would subject them to general service of process in any such
jurisdiction where it is not then so subject or subject the Company to any tax
in any such jurisdiction where it is not then so subject or to require the
Company to qualify to do business in any jurisdiction where it is not then so
qualified;

          (l)  Upon the occurrence of any event contemplated by Section 3(d)(vi)
or 3(d)(vii), as promptly as practicable, subject to Permitted Interruptions,
prepare a supplement or amendment, including, if appropriate, a post-effective
amendment, to each Registration Statement or a supplement to the related
Prospectus or any document incorporated or deemed to be incorporated therein by
reference, and file any other required document so that, as thereafter
delivered, such Prospectus will not contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they
were made, not misleading. If the Company notifies the Holders of the occurrence
of any event contemplated by Section 3(d)(vi) or 3(d)(vii), above, the Holders
shall suspend the

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use of the Prospectus until the requisite changes to the Prospectus have been
made;

          (m)  Enter into such agreements (including an underwriting agreement
in form, scope and substance as is customary in underwritten offerings) and take
all such other reasonable actions in connection therewith (including those
reasonably requested by the managing underwriters, if any, or the Holders of a
majority in aggregate number of the Registrable Securities being sold) in order
to expedite or facilitate the disposition of such Registrable Securities, and in
such connection, whether or not an underwriting agreement is entered into and
whether or not the registration is an underwritten registration, (i) make such
representations and warranties to the Holders of such Registrable Securities and
the underwriters, if any, with respect to the business of the Company (including
with respect to businesses or assets acquired or to be acquired by it), and the
Registration Statement, Prospectus and documents, if any, incorporated or deemed
to be incorporated by reference therein, in each case, in form, substance and
scope as are customarily made by issuers to underwriters in underwritten
offerings, and confirm the same if and when requested; (ii) obtain opinions of
counsel to the Company and updates thereof (which counsel and opinions (in form,
scope and substance) shall be reasonably satisfactory to the managing or sole
underwriters, if any, addressed to the underwriters, if any, covering the
matters customarily covered in opinions requested in underwritten offerings and
such other matters as may be reasonably requested by such underwriters; (iii)
obtain customary "comfort" letters and updates thereof (including, if such
registration includes an underwritten public offering, a "bring down" comfort
letter dated the date of the closing under the underwriting agreement) from the
independent certified public accountants of the Company (and, if necessary, any
other independent certified public accountants of any business which may
hereafter be acquired by the Company for which financial statements and
financial data are required to be included in the Registration Statement),
addressed to each of the underwriters, if any, such letters to be in customary
form and covering matters of the type customarily covered in "comfort" letters
in connection with underwritten offerings and such other matters as reasonably
required by the managing underwriter or underwriters and as permitted by the
Statement of Auditing Standards No. 72; (iv) if an underwriting agreement is
entered into, the same shall contain indemnification provisions and procedures
no less favorable to the Selling Holders and the underwriters, if any, than
those set forth in Section 9, below (or such other provisions and procedures
acceptable to Holders of a majority in aggregate number of Registrable
Securities covered by such Registration Statement and the managing
underwriters); and (v) deliver such documents and certificates as may be
reasonably requested by the Holders of a majority in aggregate number of the
Registrable Securities being sold, their Special Counsel and the managing
underwriters, if any, to evidence the continued validity of the representations
and warranties made pursuant to clause 4(m)(i), above, and to evidence
compliance with any customary conditions contained in the underwriting agreement
or other agreement entered into by the Company;

          (n)  Make available for inspection by one representative of the
Selling

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Holders, the managing underwriter participating in any such disposition of
Registrable Securities, if any, and any attorney, consultant or accountant
retained by such Selling Holders or underwriter (collectively, the
"Inspectors"), at the offices where normally kept, during reasonable business
 ----------
hours, all financial and other records, pertinent corporate documents and
properties of the Company (including with respect to business and assets
acquired or to be acquired to the extent that such information is available to
the Company), and cause the officers, directors, agents and employees of the
Company (including with respect to business and assets acquired or to be
acquired to the extent that such information is available to the Company) to
supply all information in each case reasonably requested by any such Inspector
in connection with such Registration; provided, however, the Company may first
                                      --------  -------
require that such Persons agree to keep confidential any non-public information
relating to the Company received by such Person and not disclose such
information (other than to an Affiliate or prospective purchaser who agrees to
respect the confidentiality provisions of this Section 3(n)) until such
information has been made generally available to the public (other than as a
result of a disclosure or failure to safeguard by such Inspector) unless the
release of such information is required by law or necessary to respond to
inquiries of regulatory authorities (including the National Association of
Insurance Commissioners, or similar organizations or their successors); without
limiting the foregoing, no such information shall be used by such Inspector as
the basis for any market transactions in securities of the Company or its
subsidiaries in violation of law;

          (o)  Use its best efforts to cause the Warrant Shares issuable upon
exercise of the Warrants and any other Registrable Securities to be quoted or
listed on any exchange upon which the Company's Common Stock is then quoted or
listed;

          (p)  Comply with all applicable rules and regulations of the SEC and
make generally available to their security holders earning statements satisfying
the provisions of Section 11(a) of the Act and Rule 158 thereunder (or any
similar rule promulgated under the Act), no later than 45 days after the end of
any 12-month period (or 90 days after the end of any 12-month period if such
period is a fiscal year) (i) commencing at the end of any fiscal quarter in
which Registrable Securities are sold to underwriters in a firm commitment or
reasonable efforts underwritten offering and (ii) if not sold to underwriters in
such an offering commencing on the first day of the first fiscal quarter after
the effective date of a Registration Statement, which statement shall cover said
period, consistent with the requirements of Rule 158; and

          (q)  Subject to Permitted Interruptions, use its best efforts to take
all other steps reasonably necessary to effect the registration, offering and
sale of the Registrable Securities covered by the Registration Statement.

          The Company may require each Selling Holder as to which any
registration is being effected to furnish to the Company such information
regarding the distribution of

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such Registrable Securities as is required by law to be disclosed in the
applicable Registration Statement and the Company may exclude from such
registration the Registrable Securities of any Selling Holder who unreasonably
fails to furnish such information promptly after receiving such request.

          If any such Registration Statement refers to any Holder by name or
otherwise as the holder or any securities of the Company, then such Holder shall
have the right to require (i) the insertion therein of language, in form and
substance reasonably satisfactory to such Holder, to the effect that the holding
by such Holder of such securities is not to be construed as a recommendation by
such Holder of the investment quality of the Company's securities covered
thereby and that such holding does not imply that such Holder will assist in
meeting any future financial requirements of the Company, or (ii) in the event
that such reference to such Holder by name or otherwise is not required by the
Act or any similar Federal statute then in force, the deletion of the reference
to such Holder in any amendment or supplement to the Registration Statement
filed or prepared subsequent to the time that such reference ceases to be
required.

          Each Holder agrees by acquisition of such Registrable Securities that,
upon receipt of any notice from the Company of the happening of any event of the
kind described in Section 3(d)(ii), 3(d)(iii), 3(d)(v) or 3(d)(vi), above, such
Holder will forthwith discontinue disposition of such Registrable Securities
covered by such Registration Statement or Prospectus until such Holder's receipt
of the copies of the supplemented or amended Prospectus contemplated by Section
3(l) hereof, or until it is advised in writing (the "Advice") by the Company
                                                     ------
that the use of the applicable Prospectus may be resumed, and, in either case,
has received copies of any additional or supplemental filings that are
incorporated or deemed to be incorporated by reference in such Prospectus.

                                      -10-
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     4.   Shelf Registration.

          (a)  Upon such time that the Fair Value of a share of Common Stock is
greater than the Exercise Price, the Initiating Holders may request in writing
that the Company file with the SEC, a registration statement for an offering to
be made on a continuous basis covering all of the Registrable Securities (the
"Shelf Registration"); provided, however, that if pursuant to the then
 ------------------    --------  -------
applicable rules and regulations of the SEC, the registration statement may not
cover all of the Registrable Securities, the Company shall cause the maximum
number of the Registrable Securities which may then be covered by such
registration statement to be so covered by such registration statement and file
a post-effective amendment to such registration statement as and when required
to cover such additional Registrable Securities. The Company will give written
notice of such request to all registered holders of Registrable Securities
within fifteen (15) days of receipt thereof. Within 90 days of receipt of such
request the Company will, subject to the terms of this Agreement, file a
Registration Statement and thereafter use its best efforts to effect the Shelf
Registration under the Act.

          (b)  The Shelf Registration shall be on such appropriate registration
form of the SEC (i) as shall be selected by the Company and (ii) as shall permit
the disposition of such Registrable Securities in accordance with the intended
method or methods of disposition on a continuous basis covering all of the
Registrable Securities. The Company shall use its best efforts to keep the Shelf
Registration continuously effective for the lesser of (a) the period commencing
on the effective date of the Registration Statement and ending on the one-year
anniversary of the Expiration Date, (b) a period ending on the date upon which
all Registrable Securities covered by the Shelf Registration have been sold, (c)
a period ending on the date after which restrictions on sales of securities by
persons other than affiliates pursuant to Commission Rule 144 (or any successor
provision) terminate, or (d) a period ending on the date after which the Holders
no longer own any of the Registrable Securities.

          (c)  The Company will pay all Registration Expenses in connection with
any Shelf Registration requested pursuant to this Section 4. The Selling Holders
shall pay the underwriting discounts, commissions, and transfer taxes, if any,
in connection with each Registration Statement requested under this Section 4,
which costs shall be allocated pro rata among all Selling Holders on whose
                               --- ----
behalf Registrable Securities of the Company are included in such registration
on the basis of the respective amounts of the Registrable Securities then being
registered on their behalf.

          (d)  The Holders shall be entitled to request one (1) registration
pursuant to this Section 4. The Company shall not be required to prepare and
file a registration statement pursuant to this Section 4 which would become
effective within six months

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<PAGE>

following the effective date of a registration statement filed by the Company
with the SEC pertaining to an underwritten public offering of securities for
which each of the Holders was entitled to request registration of its
Registrable Securities pursuant to Section 5, below.

                                      -12-
<PAGE>

     5.   Piggy-Back Registrations.

          (a)  If the Company proposes to file a Registration Statement under
the Act with respect to an offering by the Company for its own account or for
the account of any of the holders of any class of its Common Stock in a firmly
underwritten Public Equity Offering (other than (i) a Registration Statement on
Form S-4 or S-8 (or any substitute form that may be adopted by the SEC) or (ii)
a Registration Statement filed in connection with an exchange offer or offering
of securities solely to the Company's existing security holders), then the
Company shall give written notice of such proposed filing to the Holders as soon
as practicable (but in no event fewer than 20 days before the anticipated filing
date), and such notice shall offer such Holders the opportunity to register such
number of Registrable Securities as each such Holder may request in writing
within 20 days after receipt of such written notice from the Company (which
request shall specify the number of Registrable Securities intended to be
disposed of by such Selling Holder) (a "Piggy-Back Registration"). Upon the
                                        -----------------------
written request of any such Holder made within 20 days after the receipt of any
such notice (which request shall specify the number of Registrable Securities
intended to be disposed of by such Holder and the intended method of disposition
thereof), the Company will, subject to the terms of this Agreement, effect the
registration under the Act of all Registrable Securities which the Company has
been so requested to register by the Holders thereof, to the extent requisite to
permit the disposition (in accordance with the intended methods thereof as
aforesaid) of the Registrable Securities so to be registered, by inclusion of
such Registrable Securities in the registration statement that covers the
securities which the Company proposes to register, provided that, if at any time
                                                   --------
after giving written notice of its intention to register any securities and
prior to the effective date of the registration statement filed in connection
with such registration, the Company shall determine for any reason either not to
register or to delay registration of such securities, the Company may, at its
election, give written notice of such determination to each Holder and,
thereupon, (i) in the case of a determination not to register shall be relieved
of its obligation to register any Registrable Securities in connection with such
registration, without prejudice, however, to the rights of any holder or holders
of Registrable Securities entitled to do so to request that such registration be
effected as a registration under Section 4, above, and (ii) in the case of a
determination to delay registering, shall be permitted to delay registering any
Registrable Securities, for the same period as the delay in registering such
other securities. No registration effected under this Section 5 shall relieve
the Company of its obligation to effect any registration upon request under
Section 4, above, nor shall any such registration hereunder be deemed to have
been effected pursuant to Section 4. The Company shall use its best efforts to
keep such Piggy-Back Registration continuously effective under the Act until the
earlier of (A) an aggregate of 90 days after the effective date thereof or (B)
the consummation of the distribution by the Holders of all of the Registrable
Securities covered thereby.

                                      -13-
<PAGE>

          (b)  The Company shall use its best efforts to cause the managing
underwriter or underwriters of such proposed offering to permit the Registrable
Securities requested to be included in a Piggy-Back Registration to be included
in the same terms and conditions as any similar securities of the Company or any
other security holder included therein and to permit the sale or other
disposition of such Registrable Securities in accordance with the intended
method of distribution thereof. Any Selling Holder shall have the right to
withdraw its request for inclusion of its Registrable Securities in any
Registration Statement pursuant to these provisions by giving written notice to
the Company of its request to withdraw prior to the effective date of such
registration statement. The Company may withdraw a Piggy-Back Registration at
any time prior to the time it becomes effective or the Company may elect to
delay the registration; provided, however, that the Company shall give prompt
                        --------  -------
written notice thereof to participating Holders.

          (c)  The Company will pay all Registration Expenses in connection with
registration of Registrable Securities requested pursuant to this Section 5 and
the Selling Holders shall pay the underwriting discounts, commissions, and
transfer taxes, if any, relating to the sale of such Selling Holders'
Registrable Securities pursuant to this Section 5, such costs being allocated
pro rata among all Selling Holders on whose behalf Registrable Securities of the
--- ----
Company are included in such registration on the basis of the respective amounts
of Registrable Securities then being registered on their behalf.

          (d)  If a registration pursuant to this Section 5 involves an
underwritten offering of the securities so being registered, whether or not for
sale for the account of the Company, the Company will, if requested by any
Holder and subject to the provisions of this Section 5, use its best efforts to
arrange for such underwriters to include all the Registrable Securities to be
offered and sold by such Holder among the securities to be distributed by such
underwriters. Notwithstanding anything to the contrary, if the managing
underwriter of such underwritten offering shall, in writing, inform the Holders
requesting such registration and the holders of any of the Company's other
securities which shall have exercised registration rights in respect of such
underwritten offering of its belief that the number of securities requested to
be included in such registration exceeds the number which can be sold in (or
during the time of) such offering, then the Company will be required to include
in such registration statement only the amount of securities that it is so
advised should be included in such registration. In such event, (x) in cases
initially involving the registration for sale of securities for the Company's
own account, securities shall be registered in such offering in the following
order of priority: (i) first, the securities that the Company proposes to
register, and (ii) second, the securities that have been requested to be
included in such registration by Holders and by Persons entitled to exercise
"piggy-back" registration rights pursuant to contractual commitments of the
Company (pro rata on the amount of securities sought to be registered by such
         --- ----
Holders and Persons) and (y) in cases not initially involving the registration
for sale of securities for the Company's

                                      -14-
<PAGE>

own account, securities shall be registered in such offering as follows: (i)
first, the securities of any person whose exercise of a "demand" registration
right pursuant to a contractual commitment of the Company is the basis for the
registration, (ii) second, the securities that have been requested to be
included in such registration by Holders and other persons entitled to exercise
"piggy-back" registration rights pursuant to contractual commitments (pro rata
                                                                      --- ----
based on the amount of securities sought to be registered by such Holders and
persons) and (iii) third, the securities which the Company proposes to register.

     6.   Discontinuance of Disposition of Registrable Securities

          (a)  Each Holder of Registrable Securities agrees by acquisition of
such Registrable Securities that, upon receipt of any notice from the Company of
the happening of any event of the kind described in Section 3(d)(iii), 3(d)(iv),
3(d)(v), 3(d)(vi) or 3(d)(vii), above, or a Permitted Interruption, such Holder
will forthwith discontinue disposition of any Registrable Securities covered by
a registration statement or prospectus until such Holder's receipt of the copies
of the supplemented or amended prospectus contemplated by Section 3(l), above,
or until it is advised in writing (the "Advice") by the Company that the use of
                                        ------
the applicable prospectus may be resumed, and has received copies of any
additional or supplemental filings which are incorporated or deemed to be
incorporated by reference in such prospectus.

          (b)  Anything in this Agreement to the contrary notwithstanding, it is
understood and agreed that the Company shall not be required to prepare or file
a registration statement, amendment or post-effective amendment thereto or
prospectus supplement or to supplement or amend any registration statement or
otherwise facilitate the resale of Registrable Securities, and it shall be free
voluntarily to take or omit to take any other action that would result in the
impracticality of any such filing, supplement or amendment if such action is
taken or omitted to be taken by the Company in good faith and for valid business
reasons, including, without limitation, matters relating to acquisitions or
divestitures, so long as the Company shall, as promptly as practicable
thereafter, make such filing, supplement or amendment and, so long as the
Company shall as promptly as is practicable thereafter, comply with the
requirements of Section 3(l), above, if applicable (any period described in this
Section 6(b) during which Holders of Registrable Securities are not able to sell
such Registrable Securities under a registration statement is herein called a
"Permitted Interruption"). The Company hereby agrees to notify each of the
 ----------------------
Holders of Registrable Securities of the occurrence of, and the termination of,
each Permitted Interruption (the nature and pendency of which need not be
disclosed during such Permitted Interruption).

     7.   Purchase (and Exercise) of the Warrants by the Underwriters.
Notwithstanding any other provision of this Agreement to the contrary, in
connection with any Shelf Registration or Piggy-Back Registration which is to be
an underwritten offering,

                                      -15-
<PAGE>

to the extent all or any portion of the Registrable Securities to be included in
such registration consist of shares of Common Stock issuable upon exercise of
the Warrants or any portion thereof, the holders of such Registrable Securities
may require that the underwriter or underwriters purchase (and exercise) the
Warrants or any portion thereof rather than require the holders of the
Registrable Securities to exercise the Warrants or portion thereof in connection
with such registration, unless the underwriters inform such holders that such a
purchase and exercise of the Warrants will materially and adversely affect the
proposed offering. The Company shall take all such action and provide all such
assistance as may be reasonably requested by the holders of Registrable
Securities to facilitate any such purchase (and exercise) of the Warrants agreed
to by the underwriter or underwriters, including, without limitation, issuing
the Common Stock issuable upon the exercise of the Warrants or any portion
thereof to be issued within such time period as will permit the underwriters to
make and complete the distribution contemplated by the underwriting.

     8.   Limitations, Conditions and Qualifications to Obligations Under
Registration Covenants. The obligations of the Company described in Sections 4
and 5 of this Agreement are subject to each of the following limitations,
conditions and qualifications:

          (a)  The Company shall not be required by this Agreement to include
securities in a Registration Statement relating to a Piggy-Back Registration
above if (i) in the written opinion of counsel to the Company, addressed to the
Holders seeking registration and delivered to them, the Holders of such
securities seeking registration would be free to sell all such securities within
the succeeding three-month period, without registration, under Rule 144 under
the Act, which opinion may be based in part upon the representation by the
Holders of such securities seeking registration, which registration shall not be
unreasonably withheld, that each such Holder is not an affiliate of the Company
within the meaning of the Act, and (ii) all requirements under the Act for
effecting such sales are satisfied at such time.

          (b)  The Company's obligations shall be subject to the obligations of
the Selling Holders to furnish all information and materials and not to take any
and all actions as may be required under Federal and state securities laws and
regulations to permit the Company to comply with all applicable requirements of
the SEC and to obtain any acceleration of the effective date of such
Registration Statement.

          (c)  The Company shall not be obligated to cause any special audit to
be undertaken in connection with any registration pursuant to this Agreement
unless such audit is requested by the underwriters with respect to such
registration.

          (d)  The Company shall not be required by this Agreement to include

                                      -16-
<PAGE>

securities in or maintain a Shelf Registration if, at the time of such demand,
the Company is no longer subject to Section 13 or 15(d) of the Exchange Act.

     9.   Indemnification.

          (a)  The Company agrees to indemnify and hold harmless each Holder of
Registrable Securities, and each of their respective officers, employees,
affiliates, directors, partners, members, attorneys and agents, and each Person,
if any, who controls each Holder of Registrable Securities (within the meaning
of Section 15 of the Act or Section 20 of the Exchange Act)(each, a "Holder
                                                                     ------
Indemnified Party"), from and against any and all losses, claims, damages,
-----------------
liabilities, judgments, (including without limitation, any legal or other
expenses incurred in connection with investigating or defending any matter,
including any action that could give rise to any such losses, claims, damages,
liabilities or judgments) caused by any untrue statement or alleged untrue
statement of a material fact contained in any Registration Statement,
preliminary prospectus or Prospectus (or any amendment or supplement thereto)
provided by the Company to any Holder or any prospective purchaser of
Registrable Securities, or caused by any omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein not misleading, except (i) insofar as such losses, claims,
damages, liabilities or judgments are caused by an untrue statement or omission
or alleged untrue statement or omission that is based upon information relating
to any of the Holders furnished in writing to the Company by any of the Holders
or (ii) to the extent that any such losses, claims, damages, liabilities or
judgments result solely from an untrue statement of a material fact contained
in, or the omission of a material fact from the Registration Statement or
Prospectus, which untrue statement or omission was corrected in an amended or
supplemented Registration Statement or Prospectus, if the person alleging such
loss, claim, damage, liability or judgment was not sent or given, at or prior to
the written confirmation of such sale, a copy of the amended or supplemented
Registration Statement or Prospectus if the Company had previously furnished
copies thereof to such indemnified party and if delivery of a prospectus was
required by the Act and was not so made.

          (b)  Each Holder of Registrable Securities agrees, severally and not
jointly, to indemnify and hold harmless the Company, and its directors and
officers, and each person, if any, who controls (within the meaning of Section
15 of the Act or Section 20 of the Exchange Act) the Company, to the same extent
as the foregoing indemnity from the Company set forth in Section 9(a), above,
but only with reference to information relating to such Holder furnished in
writing to the Company by such Holder expressly for use in any Registration
Statement. In no event shall any Holder, its directors, officers or any Person
who controls such Holder be liable or responsible for any amount in excess of
the amount by which the net proceeds actually received by such Holder with
respect to its sale of Registrable Securities pursuant to a Registration
Statement exceed (i) the amount paid by such Holder for such Registrable
Securities and (ii) the amount of any damages that such

                                      -17-
<PAGE>

Holder, its directors, officers or any Person who controls such Holder has
otherwise been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission.

          (c)  In case any action shall be commenced involving any person in
respect of which indemnity may be sought pursuant to Section 9(a) or 9(b), above
(the "indemnified party"), the indemnified party shall promptly notify the
      -----------------
person against whom such indemnity may be sought (the "indemnifying person") in
                                                       -------------------
writing and the indemnifying party shall assume the defense of such action,
including the employment of counsel reasonably satisfactory to the indemnified
party and the payment of all fees and expenses of such counsel, as incurred
(except that in the case of any action in respect of which indemnity may be
sought pursuant to both Sections 9(a) and 9(b), above, a Holder shall not be
required to assume the defense of such action pursuant to this Section 9(c), but
may employ separate counsel and participate in the defense thereof, but the fees
and expenses of such counsel, except as provided below, shall be at the expense
of the Holder). The indemnifying party shall promptly, but in no event more than
five (5) Business Days after request for payment, pay directly or reimburse each
indemnified party for any legal and any other expenses reasonably incurred by
such indemnified party in connection with investigating and defending any such
loss, judgment, claim, damage, liability or action. After notice from the
indemnifying party to the indemnified party that it will assume the defense of
such claim or action, the indemnifying party shall not be liable to the
indemnified party for any legal or other expenses subsequently incurred by the
indemnified party in connection with the defense thereof other than reasonable
costs of investigation and other than as specified in the remainder of this
Section 9(c). Any indemnified party shall have the right to employ separate
counsel in any such action and participate in the defense thereof, but the fees
and expenses of such counsel shall be at the expense of the indemnified party
unless (i) the employment of such counsel shall have been specifically
authorized in writing by the indemnifying party, (ii) the indemnifying party
shall have failed to assume the defense of such action or employ counsel
reasonably satisfactory to the indemnified party or (iii) the named parties to
any such action (including any impleaded parties) include both the indemnified
party and the indemnifying party, and the indemnified party shall have been
advised by such counsel that there may be one or more legal defenses available
to it which are different from or additional to those available to the
indemnifying party (in which case the indemnifying party shall not have the
right to assume the defense of such action on behalf of the indemnified party).
In any such case, the indemnifying party shall not, in connection with any one
action or separate but substantially similar or related actions in the same
jurisdiction arising out of the same general allegations or circumstances, be
liable for the fees and expenses of more than one separate firm of attorneys (in
addition to any local counsel) for all indemnified parties and all such fees and
expenses shall be reimbursed as they are incurred upon written request and
presentation of reasonably satisfactory invoices. Such firm shall be designated
in writing by all indemnified Holders, in the case of the parties indemnified
pursuant to Section 9(a), above, and by the Company, in the case of

                                      -18-
<PAGE>

parties indemnified pursuant to Section 9(b), above. The indemnifying party
shall indemnify and hold harmless the indemnified party from and against any and
all losses, claims, damages, liabilities and judgments by reason of any
settlement of any action (i) effected with its written consent or (ii) effected
without its written consent if the settlement is entered into more than twenty
Business Days after the indemnifying party shall have received a request from
the indemnified party for reimbursement for the fees and expenses of counsel (in
any case where such fees and expenses are at the expense of the indemnifying
party) and, prior to the date of such settlement, the indemnifying party shall
have failed to comply with such reimbursement request. No indemnifying party
shall, without the prior written consent of the indemnified party, effect any
settlement or compromise of, or consent to the entry of judgment with respect
to, any pending or threatened action in respect of which the indemnified party
is or could have been a party and indemnity or contribution may be or could have
been sought hereunder by the indemnified party, unless such settlement,
compromise or judgment (i) includes an unconditional release of the indemnified
party from all liability on claims that are or could have been the subject
matter of such action and (ii) does not include a statement as to or an
admission of fault, culpability or a failure to act, by or on behalf of the
indemnified party.

          (d)  To the extent that the indemnification provided for in this
Section 9 is unavailable to an indemnified party in respect of any losses,
claims, damages, liabilities or judgments referred to therein, then each
indemnifying party, in lieu of indemnifying such indemnified party, shall
contribute to the amount paid or payable by such indemnified party as a result
of such losses, claims, damages, liabilities or judgments in such proportion as
is appropriate to reflect the relative fault of the Company, on the one hand,
and of the Holder, on the other hand, in connection with the statements or
omissions which resulted in such losses, claims, damages, liabilities or
judgments, as well as any other relevant equitable considerations. The relative
fault of the Company, on the one hand, and of the Holder, on the other hand,
shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged omission
to state a material fact relates to information supplied by the Company, on the
one hand, or by the Holder, on the other hand, and the parties' relative intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission. The amount paid or payable by a party as a result of the
losses, claims, damages, liabilities and judgments referred to above shall be
deemed to include, subject to the limitations set forth in Section 9(b), above,
any legal or other fees or expenses reasonably incurred by such party in
connection with investigating or defending any action or claim.

          The Company and each Holder agree that it would not be just and
equitable if contribution pursuant to this Section 9(d) were determined by pro
rata allocation (even if the Holders were treated as one entity for such
purpose) or by any other method of allocation which does not take account of the
equitable considerations referred to in the immediately preceding paragraph. The
amount paid or payable by an indemnified party as a result of the

                                      -19-
<PAGE>

losses, claims, damages, liabilities or judgments referred to in the immediately
preceding paragraph shall be deemed to include, subject to the limitations set
forth above, any legal or other expenses reasonably incurred by such indemnified
party in connection with investigating or defending any matter, including any
action that could have given rise to such losses, claims, damages, liabilities
or judgments. Notwithstanding the provisions of this Section 9, no Holder or any
Holder Indemnified Party shall be required to contribute, in the aggregate, any
amount in excess of the amount by which the net proceeds actually received by
such Holder with respect to the sale of Registrable Securities pursuant to a
Registration Statement exceed (i) the amount paid by such Holder for such
Registrable Securities and (ii) the amount of any damages which such Holder has
otherwise been required to pay by reason of such untrue or, alleged untrue
statement or omission or alleged omission. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Act) shall be
entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. The Holders' obligations to contribute pursuant to this
Section 9(d) are several in proportion to the respective principal amount of
Registrable Securities held by each Holder hereunder and not joint.

     10.  Rule 144A and Rule 144/Other Sales.

          The Company agrees with each Holder, for so long as any Registrable
Securities remain outstanding and during any period in which the Company (i) is
not subject to Section 13 or 15(d) of the Exchange Act, to make available, upon
request of any Holder, to such Holder or beneficial owner of Registrable
Securities in connection with any sale thereof and any prospective purchaser of
such Transfer Restricted Securities designated by such Holder or beneficial
owner, the information required by Rule 144A(d)(4) under the Act in order to
permit resales of such Transfer Restricted Securities pursuant to Rule 144A, and
(ii) is subject to Section 13 or 15(d) of the Exchange Act, to make all filings
required thereby in a timely manner in order to permit resales of such Transfer
Restricted Securities pursuant to Rule 144.

     11.  Assignment of Registration Rights.

          The rights to cause the Company to register Registrable Securities
pursuant to this Agreement may be assigned (but only with all related
obligations) by a Holder to a transferee or assignee of this Warrant or such
Registrable Securities who, after such assignment or transfer, holds, or has the
right to acquire, at least 100,000 shares of Registrable Securities (subject to
appropriate adjustment for stock splits, stock dividends, combinations and other
recapitalizations), provided the Company is, within a reasonable time after such
transfer, furnished with written notice of the name and address of such
transferee or assignee and the securities with respect to which such
registration rights are being assigned; provided, however, such assignment shall
                                        --------  -------
be effective only if immediately following such transfer, the Registrable
Securities are Transfer Restricted Securities.

                                      -20-
<PAGE>

     12.   Miscellaneous.

           (a)  Amendments and Waivers. Neither this Agreement nor any provision
                ----------------------
hereof may be changed, waived, discharged or terminated orally or by course of
dealing, except by a statement in writing signed by the party against which
enforcement of the change, waiver, discharge or termination is sought.

          (b)  Notices. All notices and other communications provided for or
               -------
permitted hereunder shall be made and delivered in accordance with the Stock
Purchase Agreement.

          (c)  Successors and Assigns. The rights and obligations of the Holder
               ----------------------
under this Agreement shall be assignable in whole or in part as set forth in
Section 11, above. Each such assignee, by accepting such assignment of the
rights of the assignor hereunder, shall be deemed to have agreed to and be bound
by the obligations of the assignor hereunder. The rights and obligations of the
Company hereunder may not be assigned or delegated.

          (d)  Counterparts. This Agreement may be executed in any number of
               ------------
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

          (e)  Headings. The headings in this Agreement are for convenience of
               --------
reference only and shall not limit or otherwise affect the meaning hereof.

          (f)  Governing Law. In all respects, including all matters of
               -------------
construction, validity and performance, this Agreement and the rights and
obligations arising hereunder shall be governed by, and construed and enforced
in accordance with, the laws of the State of California applicable to contracts
made and performed in such state, without regard to the choice of law or
conflicts of laws principles.

          (g)  Severability. In the event that any one or more of the provisions
               ------------
contained herein, or the application thereof in any circumstance, is held
invalid, illegal or unenforceable, the validity, legality and enforceability of
any such provision in every other respect and of the remaining provisions
contained herein shall not be affected or impaired thereby.

          (h)  Entire Agreement. This Agreement is intended by the parties as a
               ----------------
final expression of their agreement and intended to be a complete and exclusive
statement of the agreement and understanding of the parties hereto in respect of
the subject matter contained

                                      -21-
<PAGE>

herein. There are no restrictions, promises, warrantees or undertakings, other
than those set forth or referred to herein with respect to the registration
rights granted with respect to the Registrable Securities. This Agreement
supersedes all prior agreements and understandings between the parties with
respect to such subject matter.

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

THE "COMPANY":                             THE "HOLDER":

SIZZLER INTERNATIONAL, INC.,               FFPE HOLDING COMPANY, INC.,
a Delaware corporation                     a Delaware corporation

By:                                        By:
   Its:                                        Its:

                                      -22-<PAGE>

                                                                    EXHIBIT 10.9

                             EMPLOYMENT AGREEMENT

     This Employment Agreement (the "Agreement") is made and entered into as of
the ____ day of _____________, 2000 (the "Effective Date"), by and between FFPE,
LLC, a Delaware limited liability company (the "Employer") located at __________
______________________, and John Sarkisian (the "Executive"), an individual
whose address is [_______________________________, _______________________],
California  [_________].  In consideration of the mutual promises made in this
Agreement, Employer and Executive hereby agree as follows:

                                   ARTICLE I

                         TERM AND PLACE OF EMPLOYMENT

     Section 1.1  Specified Period.  Employer hereby employs Executive, and
Executive hereby accepts employment with Employer, for a period of three (3)
years, beginning on the Effective Date and, unless sooner terminated in
accordance with the terms and provisions hereof, terminating on _____________
(which period, as so terminated, shall be referred to as the "Employment Term").

     Section 1.2  Location.  Unless Executive and Employer agree otherwise,
Executive shall perform the services required hereunder at Employer's offices
located at ________________________, __________, California, or at such other
location as may be designated by Employer, and shall spend such time at
Employer's operating facilities and travelling on business of Employer as
Employer shall from time to time reasonably deem necessary.

                                  ARTICLE II

                      DUTIES AND OBLIGATIONS OF EXECUTIVE

     Section 2.1  General Duties and Services.  During the Employment Term,
Executive shall serve as the CEO of Employer.  In such capacity, Executive will
render such services of an executive and administrative nature to Employer, its
divisions and Affiliates (which is defined for purposes of this Agreement to
include any current or future company or other entity controlled by Employer) as
are normally and customarily vested in the office of President/CEO of a
corporation and such other or different duties consistent with Executive's
office as Employer may from time to time assign, subject always to the direct
supervision of the Manager of Employer ("Manager") and the general supervision
of the President and Chief Executive Officer of Sizzler International, Inc. (the
"Sizzler CEO").  Set forth on Schedule B is a list of specific rights of the
Executive, which are not intended to be exclusive.  In the performance of such
services, Executive shall at all times (i) faithfully, industriously

                                      -1-
<PAGE>

and to the best of his ability, experience and talents perform all of the duties
that may be required of and from him pursuant to the terms and provisions of
this Agreement; and (ii) subject to the direct supervision of the Manager and
the general supervision of the Sizzler CEO, perform all appropriate duties and
responsibilities necessary to the effective and efficient operations of
Employer. Further, Executive agrees to abide by all policies of Employer and
Sizzler and to, from time to time as requested by the Sizzler CEO, execute
commercially reasonable agreements and certifications with respect to
confidentiality, conflict of interest, proprietary information and Sizzler's
code of business conduct. During the first year of this Agreement, Executive
hereby agrees not to grant salary increases, bonuses or other compensation
awards outside of the customary and usual practice associated with the Oscar's
restaurant business; except for stock options which shall be eliminated.
Executive shall not be required to reduce benefits to employees during the first
year. In the second and third years, Executive will submit recommended salary
increases, bonuses and other compensation awards to Manager for its review,
according to the guidelines set by Sizzler for similarly situated employees.

     Section 2.2  Proprietary Information.  Executive expressly acknowledges
that his position with the Company is one of the highest trust and confidence
both by reason of his position and by reason of his access to and contact with
the trade secrets and confidential and proprietary business information of
Employer.  Accordingly, Executive hereby covenants and agrees as follows with
respect to both the Employment Term and thereafter:

          2.2.1   Executive shall use his diligent efforts to protect and
safeguard the trade secrets and confidential and proprietary information of
Employer, including, without limitation, its technical data, records,
compilations of information, processes, inventions, formulae, know how, customer
lists, supplier lists, products, services, business plans, marketing plans, and
opportunities;

          2.2.2   Executive shall not disclose any such trade secrets or
confidential and proprietary information to any third party whatsoever; except
for disclosures made in good faith and in furtherance of Employer's interests
during the course of his employment by Employer;

          2.2.3   Executive shall not use, directly or indirectly, for his own
benefit or for the benefit of any person other than the Company, any of such
trade secrets or confidential and proprietary information.

     Notwithstanding anything to the contrary in this Section 2.2, no
information shall be considered confidential which (i) is or becomes publicly
available or known in the relevant trade or industry other than as a result of
acts by Executive in breach of this Agreement, (ii) is disclosed to Executive by
a third party on a non-confidential

                                      -2-
<PAGE>

basis not in breach of any obligation of confidentiality, or (iii) is required
to be disclosed by law.

     Section 2.3  Ownership of Books, Records and Papers. All records, books,
correspondence, memoranda, notes, files, charts, drawings, specifications,
studies, formulae and other documents relating in any manner whatsoever to
Employer's business operations or those of Sizzler International, Inc. and its
affiliates which come or have heretofore come into Executive's possession shall
remain the exclusive property of Employer and Executive shall deliver all such
materials and property to Employer upon the termination of Executive's
employment hereunder, or at any other time upon the request of Employer.

     Section 2.4  Certain Remedies of Employer.  Notwithstanding anything to the
contrary in this Agreement, the covenants set forth in this Article II shall
survive and continue to be binding upon Executive, notwithstanding the
termination of his employment with Employer for any reason whatsoever.  The
covenants and agreements set forth in this Article II shall be deemed and
construed as separate agreements, independent of any other covenants, agreements
or provisions set forth in this Agreement.  The existence of any claim or cause
of action by the Executive against the Employer, whether predicated on this
Agreement or otherwise, shall not constitute a defense to the enforcement by
Employer of any or all of such independent covenants and agreements.  The
Executive acknowledges and agrees that in the event of a breach or threatened
breach of the provisions of this Article II by the Executive, Employer will
suffer irreparable harm which would not be adequately compensated in damages in
an action at law.  Accordingly, in addition to such other remedies to which
Employer may be entitled and notwithstanding anything to the contrary herein,
Employer shall be entitled to specific performance and/or injunctive relief.

                                  ARTICLE III

                            OBLIGATIONS OF EMPLOYER

     Section 3.1  General Description.  During the Employment Term, Employer
shall provide Executive with the compensation, incentives, benefits, and
business expense reimbursements specified in this Agreement.

     Section 3.2  Office and Staff.  During the Employment Term, Employer shall
provide Executive with an office, secretarial help, office equipment, supplies,
and other facilities adequate for the performance of his duties.

                                      -3-
<PAGE>

                                  ARTICLE IV

                           COMPENSATION OF EXECUTIVE

     Section 4.1  Annual Salary.  As compensation for the services to be
performed pursuant to this Agreement, Executive shall receive a salary at the
rate of $200,000.00 per annum, payable not less than semi-monthly and otherwise
in accordance with Employer's customary practice for its executive officers.
Executive shall be eligible for consideration for such increases in salary and
bonuses and stock options as determined by Manager's Board of Directors, based
upon the amounts made available by the Manager for other similarly situated
employees having similar responsibility.

     Section 4.2  Tax Withholding.  Employer shall have the right to deduct or
withhold from the compensation due to Executive under this Agreement any and all
sums required for federal income and Social Security taxes and all state or
local taxes now applicable or that may be enacted and become applicable in the
future.

                                   ARTICLE V

                              EXECUTIVE BENEFITS

     Section 5.1  Annual Vacation.  Executive shall be entitled to vacation time
each year with full pay and benefits, consistent with the Employer's policy for
similar executives, as may be in effect from time to time.  See Schedule A,
attached hereto, for the current schedule of benefits.

     Section 5.2  Illness.  Executive shall be entitled to sick leave with full
pay and benefits, consistent with Employer's policy for similar executives as
may be in effect from time to time.  See Schedule A.

     Section 5.3  Automobile Allowance.  During the Employment Term, Employer
shall provide Executive with a monthly automobile allowance consistent with the
Employer's policy for similar executives, as may be in effect from time to time.
See Schedule A.

     Section 5.4  Medical and Disability Coverage.  During the Employment Term,
Employer agrees that, if and to the extent Employer provides the same to other
executive officers of Employer, Employer will provide Executive with
participation in health, dental or other medical insurance plan, disability
plan, life insurance plan or any other employee benefit plan from time to time
in force on terms no less favorable than those provided to such other executive
officers.  See Schedule A.

                                      -4-
<PAGE>

                                  ARTICLE VI

                               BUSINESS EXPENSES

     Section 6.1  Reimbursement of Other Business Expenses.

          6.1.1   Employer shall promptly reimburse Executive, in accordance
with Employer's policies from time to time in effect, for all reasonable and
customary business expenses incurred by Executive in connection with the
business of Employer.

          6.1.2   Each such expenditure shall be reimbursable only if it is of a
nature qualifying it as a proper deduction on the federal and state income tax
return of Employer.

          6.1.3   Each such expenditure shall be reimbursable only if Executive
furnishes to Employer adequate records and other documentary evidence required
by federal and state statutes and regulations issued by the appropriate taxing
authorities for the substantiation of each such expenditure as an income tax
deduction.

                                  ARTICLE VII

                           TERMINATION OF EMPLOYMENT

     Section 7.1  Termination for Cause.  Employer shall have the right,
exercisable immediately upon written notice, to terminate Executive's employment
for "Cause."

          7.1.1   Definition of Cause.  As used herein, "Cause" means any of the
following:  (A) illegal use of narcotics; (B) habitual public drunkenness by
Executive which materially and adversely affects Executive's performance under
this Agreement; (C) Executive is convicted by a court of competent jurisdiction,
or pleads "no contest" to, a felony involving moral turpitude; (D) Executive
engages in fraud, embezzlement or any other illegal conduct substantially
detrimental to the business or reputation of Employer, regardless of whether
such conduct is designed to defraud Employer or others; (E) Executive
intentionally imparts material confidential information relating to Employer or
its business to competitors or to other third parties other than in the course
of carrying out Executive's duties; (F) beginning at any time after the fifth
full Fiscal Quarter after the date hereof, the failure of FFPE, LLC's Cumulative
Restaurant EBITDA to be at least equal to 75% of the projected Cumulative
Restaurant EBITDA for such cumulative period following the date hereof as set
forth in the Business Plan, as such terms are defined in the Credit Agreement
dated as of even date herewith; and (G) Executive refuses to perform his duties
hereunder or otherwise breaches any

                                      -5-
<PAGE>

material covenant, warranty or representation of this Agreement, and, except for
any conduct described in clauses (A) through (E) of this Section 7.1.1, fails to
cure such breach (if such breach is then capable of being cured) within 30
business days following written notice thereof specifying in reasonable detail
the nature of such breach, or if such breach is not capable of being cured in
such time, a cure shall not have been diligently initiated within such 30
business day period.

          7.1.2   Effect of Termination.  Upon termination in accordance with
this Section 7.1.2, Executive shall be entitled to no further compensation
hereunder other than the Base Salary and other benefits accrued hereunder
through, but not including, the effective date of such termination.  Employer's
exercise of its right to terminate for Cause shall be without prejudice to any
other remedy to which it may be entitled at law, in equity or under this
Agreement.

     Section 7.2  Voluntary Termination.  Executive may terminate his
employment at any time by giving no less than 30 days' written notice to
Employer.  Upon termination in accordance with this Section 7.2, Executive shall
be entitled to no further compensation hereunder other than the Base Salary and
other benefits accrued hereunder through, but not including, the effective date
of such termination.

     Section 7.3  Termination Due to Death or Disability.  This Agreement shall
automatically terminate upon the death of Executive. In addition, if any
disability or incapacity of Executive to perform his duties as the result of any
injury, sickness or physical, mental or emotional condition continues for a
period of 60 consecutive days or a total of 90 days in any 12-month period,
Employer may terminate Executive's employment upon written notice to Executive.
Upon termination in accordance with this Section 8(c), Executive (or Executive's
estate, as the case may be) shall be entitled to (i) no further compensation
hereunder other than the Base Salary and other benefits accrued hereunder
through, but not including, the date of death or, in the case of disability, the
date disability is determined as set forth above.

     Section 7.4  Exclusive Remedy.  The payments contemplated by this Agreement
shall constitute Executive's exclusive and sole remedy for any claim for
payments or wages that Executive might otherwise have against Employer under
this Agreement which, but for Executive's termination of employment by Employer
hereunder, might otherwise be due and payable by Employer to Executive.
Executive covenants not to assert or pursue any such remedies, other than an
action to enforce the payments due to Executive under this Agreement.

                                      -6-
<PAGE>

                                 ARTICLE VIII

                              GENERAL PROVISIONS

     Section 8.1  Notices.  Any notices to be given under this Agreement by
either party to the other shall be in writing and may be transmitted by personal
delivery or by mail, registered or certified, postage prepaid with return
receipt requested.  Mailed notices shall be addressed to the parties at the
addresses appearing in the introductory paragraph of this Agreement, but each
party may change that address by written notice in accordance with this Section
8.01.  Notices delivered personally shall be deemed communicated as of the date
of actual receipt; mailed notices shall be deemed communicated as of three (3)
days after the date of mailing.

     Section 8.2  Attorneys' Fees and Costs.  In the event of any litigation,
arbitration or other dispute arising as a result of or by reason of this
Agreement, the prevailing party in any such litigation, arbitration or other
dispute shall be entitled to, in addition to any other damages assessed, its
reasonable attorneys' fees, and all other costs and expenses incurred in
connection with settling or resolving such dispute.  The attorneys' fees which
the prevailing party is entitled to recover shall include fees for prosecuting
or defending any appeal and shall be awarded for any supplemental proceedings
until the final judgment is satisfied in full.  In addition to the foregoing
award of attorneys' fees to prevailing party, the prevailing party in any
lawsuit or arbitration proceeding on this Agreement shall be entitled to its
reasonable attorneys' fees incurred in any post judgment proceedings to collect
or enforce the judgment.  This attorneys' fees provision is separate and several
and shall survive the merger of this Agreement into any judgment.

     Section 8.3  Entire Agreement.  This Agreement supersedes any and all other
agreements, either oral or in writing, between the parties hereto with respect
to the terms and conditions of Employer's employment of Executive by Employer
and contains all of the covenants and agreements between the parties with
respect to the terms and conditions of that employment.  Each party to this
Agreement acknowledges that no representation, inducement, promise, or
agreement, oral or otherwise, relating to the terms and conditions of
Executive's employment has been made by any party, or anyone acting on behalf of
any party, which are not embodied in this Agreement, and that no other
agreement, statement, or promise relating to such subject matter not contained
in this Agreement shall be valid or binding on either party.

     Section 8.4  Modifications.  Any modification of this Agreement will be
effective only if it is in writing and signed by the party to be charged.

     Section 8.5  Effect of Waiver.  The failure of either party to insist on
strict compliance with any of the terms, covenants, or conditions of this
Agreement by the

                                      -7-
<PAGE>

other party shall not be deemed a waiver of that term, covenant, or condition,
nor shall any waiver or relinquishment of any right or power at any one time or
times be deemed a waiver or relinquishment of that right or power for all or any
other times.

     Section 8.6  Partial Invalidity.  If any provision in this Agreement is
held by a court of competent jurisdiction or pursuant to an arbitration
conducted pursuant to Section 8.9 of this Agreement to be invalid, void, or
unenforceable, the remaining provisions hereof shall nevertheless continue in
full force without being impaired or invalidated in any way.

     Section 8.7  Governing Law.  This Agreement shall be governed by and
construed in accordance with the laws of the State of California applicable to
contracts made and to be performed entirely within the state of California
except with regard to California's choice of law principles.

     Section 8.8  Sums Due Deceased Executive.  If Executive dies prior to the
expiration of the term of his employment, any sums that may be due him from
Employer under this Agreement as of the date of death shall be paid to
Executive's executors, administrators, heirs, personal representatives,
successors, and assigns.

     Section 8.9  Arbitration of Disputes.  Except only as otherwise provided
below, either party hereto may require the arbitration of any dispute arising
under or in connection with this Agreement.  Such party may initiate and require
arbitration by giving notice to the other party specifying the matter to be
arbitrated.  If legal action is already pending on any matter concerning which
the notice is given, the notice shall not be effective unless given by the
defendant therein and given before the expiration of twenty (20) days after
service of process on the person giving the notice.  Except as provided to the
contrary in these provisions on arbitration, the arbitration shall be in
conformity with and subject to applicable rules and procedures of the American
Arbitration Association (or any successor thereto).  If the American Arbitration
Association is not then in existence and there is no successor, or if for any
reason the American Arbitration Association fails or refuses to act, the
arbitration shall be in conformity with and subject to the provisions of
applicable California statutes (if any) relating to arbitration at the time of
the notice.  The arbitrators shall be bound by this Agreement.  Pleadings in any
action pending on the same matter shall, if arbitration is required as
aforesaid, be deemed amended to limit the issues to those contemplated by the
rules prescribed above. Each party shall pay the costs of arbitration, including
arbitrator's fees, as awarded by the arbitrator(s).  The number and selection of
arbitrator(s) shall be in accordance with the rules prescribed above, except
that (a) each arbitrator selected shall be neutral and familiar with the
principal subject matter of the issues to be arbitrated, (b) the testimony of
witnesses shall be given under oath, and (c) depositions and other discovery may
be ordered by the arbitrator(s).  Notwithstanding anything to the contrary in
this Section 8.9, the parties hereto shall

                                      -8-
<PAGE>

have the right at all times to resort to any court of competent jurisdiction to
seek and obtain any equitable, extraordinary and/or other remedies to which they
may be entitled but which would be beyond the authority of the arbitrators
hereunder to grant.

     NOTICE:  By initialing in the space below you are agreeing, except only to
the extent provided to the contrary above, to have any dispute arising out of
the matters included in the "arbitration of disputes" provision decided by
neutral arbitration and you are giving up any rights you might possess to have
the dispute litigated in a court or jury trial.  By initialing in the space
below you are giving up your judicial rights to discovery and appeal, unless
such rights are specifically included in the "arbitration of disputes"
provision.  If you refuse to submit to arbitration after agreeing to this
provision you may be compelled to arbitrate under the authority of the
applicable state statute.  Your agreement to this arbitration provision is
voluntary.

     We have read and understand the foregoing and, except as otherwise
permitted above, agree to submit disputes arising out of the matters included in
the "arbitration of disputes" provision to neutral arbitration.

Initials:  ___________    _____________
               Employer    Executive

     Section 8.10  Waiver of Jury Trial.  With respect to any dispute arising
under or in  connection with this Agreement, as to which neither party hereto
invokes the right to arbitration hereinabove provided, or as to which legal
action nevertheless occurs, each party hereto hereby irrevocably waives all
rights it may have to demand a jury trial.  This waiver is knowingly,
intentionally, and voluntarily made by the parties hereto and each party
acknowledges that neither the other party hereto nor any person acting on behalf
of the other party has made any representation of fact to induce this waiver of
trial by jury or in any way to modify or nullify its effect.  The parties hereto
each further acknowledge that they have been represented (or have had the
opportunity to be represented) in the signing of this Agreement and in the
making of this waiver by independent legal counsel, selected of its own free
will, and that it has had the opportunity to discuss this waiver with counsel.
The parties hereto each further acknowledges that it has read and understands
the meaning and ramifications of this waiver provision.

Initials:    ___________    ____________
               Employer    Executive

                                      -9-
<PAGE>

     Section 8.11  Understanding of Agreement.  Executive states that he has
carefully read this Agreement, that he has had sufficient time and opportunity
to consider its terms and to obtain legal advice, if desired, that he fully
understands its final and binding effect, that the only promises made to him to
sign this Agreement are those stated above, and that he is signing this
Agreement voluntarily.

     Executed as of _______________, 2000, at __________, California.

EMPLOYER:                                    EXECUTIVE:

FFPE, LLC
a Delaware limited liability company

By:________________________                  _________________________
                                                   John Sarkisian
Name:  _____________________

Title:______________________

                                      -10-
<PAGE>

                            CHIEF EXECUTIVE OFFICER

                                JOHN SARKISIAN

Annual Base Salary:           $200,000 (biweekly payroll)

Bonus Potential:              20% of base salary, paid quarterly

Vacation:                     Per Vacation Policy (5 days after 1 year of
                              service; 10 days after 2 years of service; 1
                              additional day after each additional year of
                              service; caps at 15 days per year)

Illness:                      Per Sick Leave Policy
                              (5 paid sick days per year)

Auto Allowance:               Monthly taxable auto allowance of $500

Medical/Dental:               Company paid for executive and dependents

Life Insurance:               $50,000 coverage for executive company paid

Long Term Disability:         Company paid

401(k):                       Per plan; match 10%

Flexible Spending
Account (Sect 125):           Per Plan

                                  Schedule A
<PAGE>

                               SCHEDULE B TO THE
                    EMPLOYMENT AGREEMENT OF JOHN SARKISIAN

          Pursuant to Section 2.1 of the Employment Agreement and by way of
example and not by way of limitation upon John Sarkisian's authority as Chief
Executive Officer, during the Employment Term and without the permission of John
Sarkisian, there shall be:

          1.   No change in the price of food, products or any change in the
level of services offered by FFPE, LLC;

          2.   No reduction in the personnel of FFPE, LLC either in the
aggregate or on a restaurant by restaurant basis;

          3.   No change in the food, product lines and services offered by
FFPE, LLC;

          4.   No reduction in the number of new restaurants to be opened
pursuant to the Business Plan so long as FFPE, LLC is entitled to request
drawdowns under the Credit Agreement dated __________________,2000, between
Sizzler International, Inc., S&C Company, Inc., and FFPE, LLC.

          Nothing set forth above shall restrict or limit the power or authority
of the Board of Directors of Sizzler International, Inc. to determine and
establish limits on the authority of John Sarkisian comparable to those imposed
on other divisional presidents and chief executive officers; provided, however,
that John Sarkisian shall be entitled to request consideration of any decision
made by the Chief Executive Officer of Sizzler to make any change or take any
action specified in Items 1 through 4 above, which action or change has been
made without John Sarkisian's consent.

                                  Schedule B

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