Document:

EX-10.2

 Exhibit 10.2 

TAX RECEIVABLE AGREEMENT 

among 
 THE HABIT
RESTAURANTS, INC. and its WHOLLY-OWNED SUBSIDIARIES, 
 THE HABIT RESTAURANTS, LLC 

and 
 EACH MEMBER OF

 THE HABIT RESTAURANTS, LLC LISTED ON ANNEX A 

Dated as of November 25, 2014 

					
	 ARTICLE I. DEFINITIONS
		 	2	 
		
	 1.1. Definitions.
		 	2	  
		
	 1.2. Terms Generally.
		 	9	  
		
	 ARTICLE II. DETERMINATION OF CERTAIN REALIZED TAX BENEFIT
		 	10	 
		
	 2.1. Tax Benefit Schedule.
		 	10	  
		
	 2.2. Procedure, Amendments.
		 	11	  
		
	 2.3. Consistency with Tax Returns.
		 	12	  
		
	 ARTICLE III. TAX BENEFIT PAYMENTS
		 	12	 
		
	 3.1. Payments.
		 	12	  
		
	 3.2. Duplicative Payments.
		 	12	  
		
	 ARTICLE IV. TERMINATION
		 	13	 
		
	 4.1. Early Termination, Change in Control and Breach of Agreement.
		 	13	  
		
	 4.2. Early Termination Notice.
		 	15	  
		
	 4.3. Payment upon Early Termination.
		 	15	  
		
	 ARTICLE V. SUBORDINATION AND LATE PAYMENTS
		 	16	 
		
	 5.1. Subordination.
		 	16	  
		
	 5.2. Late Payments by Corporate Taxpayer.
		 	16	  
		
	 ARTICLE VI. NO DISPUTES; CONSISTENCY; COOPERATION
		 	16	 
		
	 6.1. Participation in Corporate Taxpayer’s and Habit LLC’s Tax Matters.
		 	16	  
		
	 6.2. Consistency.
		 	17	  
		
	 6.3. Cooperation.
		 	17	  
		
	 ARTICLE VII. MISCELLANEOUS
		 	17	 
		
	 7.1. Notices.
		 	17	  
		
	 7.2. Counterparts.
		 	18	  
		
	 7.3. Entire Agreement; Third Party Beneficiaries.
		 	18	  
		
	 7.4. Severability.
		 	18	  
		
	 7.5. Successors; Assignment; Amendments; Waivers.
		 	19	  
		
	 7.7. Governing Law; Jurisdiction; Waiver of Jury Trial.
		 	19	  
		
	 7.8. Reconciliation.
		 	20	  
		
	 7.9. Withholding.
		 	20	  
		
	 7.10. Admission of Corporate Taxpayer into a Consolidated Group; Transfers of Corporate Assets.
		 	20	  
		
	 7.11. Confidentiality.
		 	21	  
		
	 7.12. Change in Law.
		 	22	  
		
	 7.13. Independent Nature of LLC Unit Holders’ Rights and Obligations.
		 	22	  

  
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 This TAX RECEIVABLE AGREEMENT (“Agreement”), dated as of November 25, 2014
and effective upon the consummation of the Recapitalization Transactions (as defined in the Recapitalization Agreement (as defined herein)) and prior to the IPO Closing, is hereby entered into by and among The Habit Restaurants, Inc., a Delaware
corporation (“Corporate Taxpayer”), the wholly-owned Subsidiaries of Corporate Taxpayer, The Habit Restaurants, LLC, a Delaware limited liability company (“Habit LLC”) each LLC Unit Holder (as defined below), and each of
the successors and assigns thereto. 
 RECITALS 

WHEREAS, in connection with the initial public offering of Class A Common Stock (as defined below) of Corporate Taxpayer (the
“IPO”), Habit LLC will, pursuant to the Recapitalization Agreement, enter into a series of transactions to recapitalize its capital structures (the “Recapitalization”); 

WHEREAS, the limited liability company interests in Habit LLC are and will be classified as limited liability company units (“LLC
Units”); 
 WHEREAS, the Corporate Taxpayer is the managing member of Habit LLC, and holds indirectly, and will following the IPO
also hold directly, LLC Units; 
 WHEREAS, each holder of LLC Units (other than, for clarity, Corporate Taxpayer and its wholly-owned
Subsidiaries) listed on Annex A (each an “LLC Unit Holder”) may exchange its LLC Units (or, in the case of a “disguised sale” described under Section 707 of the Code (as defined below), be deemed to exchange other
interests in the Habit LLC) for (A) Class A common stock (the “Class A Common Stock”) of Corporate Taxpayer (or, at the option of Corporate Taxpayer, for cash), in accordance with and subject to the provisions of the
Limited Liability Company Agreement of the Habit Restaurants, LLC, dated as of the date hereof, among Corporate Taxpayer and each LLC Unit Holder (the “Habit LLC Agreement”) and (B) the amounts payable pursuant to and subject
to the terms of this Agreement in respect of such exchange or deemed exchange; 
 WHEREAS, Habit LLC is expected to have in effect an
election under Section 754 of the Internal Revenue Code of 1986, as amended (the “Code”), for the current taxable year and future taxable years in which Corporate Taxpayer may directly or indirectly acquire interests in Habit
LLC in exchange for Class A Common Stock (or, at the option of Corporate Taxpayer, for cash); 
 WHEREAS, the income, gain, loss,
deduction and other Tax (as defined below) items of Corporate Taxpayer and its wholly-owned Subsidiaries may be affected by (i) the Basis Adjustments (as defined below) and (ii) the Imputed Interest (as defined below); 

WHEREAS, the parties to this Agreement desire to make certain arrangements with respect to the effect of the Basis Adjustments and the Imputed
Interest on the liability for Taxes of Corporate Taxpayer; 

  
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 NOW, THEREFORE, in consideration of the foregoing and the respective covenants and agreements set
forth herein, and intending to be legally bound hereby, the parties hereto agree as follows: 
 ARTICLE I. 

DEFINITIONS 
 1.1.
Definitions. As used in this Agreement, the terms set forth in this ARTICLE I shall have the following meanings. 

“Advisory Firm” means any accounting firm or any law firm that, in either case, is nationally recognized as being expert in
tax matters. 
 “Affiliate” means, with respect to any Person, any other Person that directly or indirectly, through one or
more intermediaries, Controls, is Controlled by, or is under common Control with, such first Person. 
 “Agreed Rate” means
LIBOR. 
 “Agreement” has the meaning set forth in the Preamble of this Agreement. 

“Amended Schedule” has the meaning set forth in Section 2.2(b) of this Agreement. 

“Basis Adjustment” means in respect of an LLC Unit Holder the adjustment to the tax basis of a Reference Asset under Sections
732, 755 and 1012 of the Code (in situations where, following an Exchange and/or a merger or liquidation of Corporate Taxpayer’s wholly-owned Subsidiaries, Habit LLC becomes an entity that is disregarded as separate from its owner for U.S.
federal income tax purposes) or under Sections 743(b) and 755 of the Code (in situations where, following an Exchange, and/or a merger or liquidation of Corporate Taxpayer’s wholly-owned Subsidiaries, Habit LLC is not an entity that is
disregarded as separate from its owner for U.S. federal income tax purposes) and the Treasury Regulations promulgated thereunder and, in each case, comparable sections of state and local tax laws, as a result of (i) an Exchange by such LLC Unit
Holder and (ii) the payments made to such LLC Unit Holder pursuant to this Agreement. For the avoidance of doubt, the amount of any Basis Adjustment resulting from an Exchange shall be determined without regard to any Pre-Exchange Transfers
(and as if any such Pre-Exchange Transfers had not occurred). 
 “Board” means the Board of Directors of Corporate
Taxpayer. 
 “Business Day” means any day excluding Saturday, Sunday and any day that is a legal holiday under the laws of
the State of New York or is a day on which banking institutions located in New York are closed. 
 A “Change in Control”
shall be deemed to have occurred if or upon: 
  

	 	(i)	the stockholders of Corporate Taxpayer approve the sale, lease or transfer, in one or a series of related transactions, of all or substantially all of Corporate Taxpayer’s assets (determined on a consolidated
basis) to any person or group (as such term is used in Section 13(d)(3) of the Exchange Act) other than to any Subsidiary of Corporate Taxpayer; provided, that, for clarity and notwithstanding anything to the contrary, neither the approval of
nor consummation of a transaction treated for U.S. federal income tax purposes as a liquidation into Corporate Taxpayer of its wholly-owned Subsidiaries or merger of such entities into one another or Corporate Taxpayer will constitute a “Change
in Control”; 

  
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	 	(ii)	the stockholders of Corporate Taxpayer approve a merger or consolidation of Corporate Taxpayer with any other person, other than a merger or consolidation which would result in the Voting Securities of Corporate
Taxpayer outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into Voting Securities of the surviving entity) at least 50.1% of the total voting power represented by the Voting
Securities of Corporate Taxpayer or such surviving entity outstanding immediately after such merger or consolidation; 

  

	 	(iii)	the stockholders of Corporate Taxpayer approve the adoption of a plan the consummation of which would result in the liquidation or dissolution of Corporate Taxpayer; or 

 

	 	(iv)	the acquisition, directly or indirectly, by any person or group (as such term is used in Section 13(d)(3) of the Exchange Act) (other than (a) a trustee or other fiduciary holding securities under an employee
benefit plan of Corporate Taxpayer; (b) a corporation or other entity owned, directly or indirectly, by the stockholders of Corporate Taxpayer in substantially the same proportions as their ownership of stock of Corporate Taxpayer ;
(c) KarpReilly, LLC and its Affiliates ((a) through (c) collectively are referred to herein as “Exempt Persons”)) of beneficial ownership (as defined in Rule 13d-3 under the Exchange Act) of more than 50.1% of the
aggregate voting power of the Voting Securities of Corporate Taxpayer. 

 “Class A Common Stock” has the
meaning set forth in the Recitals of this Agreement. 
 “Code” has the meaning set forth in the Recitals of this Agreement.

 “Control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and
policies of a Person, whether through ownership of Voting Securities, by contract or otherwise. 
 “Corporate Taxpayer” has
the meaning set forth in the Preamble of this Agreement. 
 “Corporate Taxpayer Return” means the federal and/or state
and/or local Tax Return, as applicable, of Corporate Taxpayer or any wholly-owned Subsidiary of Corporate Taxpayer (or any Tax Return filed for a consolidated, affiliated, combined or unitary group of which Corporate Taxpayer or any wholly-owned
Subsidiary of Corporate Taxpayer is a member) filed with respect to Taxes of any taxable year. 
 “Cumulative Net Realized Tax
Benefit” means for a taxable year in respect of an LLC Unit Holder the cumulative amount of Realized Tax Benefits in respect of such LLC Unit Holder for all taxable years or portions thereof of (i) Corporate Taxpayer, (ii) its
wholly-owned Subsidiaries, and (iii) without duplication, Habit LLC and its Subsidiaries, up to and including such taxable year, net of the cumulative amount of Realized Tax Detriments in respect of such

  
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LLC Unit Holder for the same period. The Realized Tax Benefit and Realized Tax Detriment in respect of such LLC Unit Holder for each taxable year or portion thereof shall be determined based on
the most recent Tax Benefit Schedule or Amended Schedule, if any, in existence at the time of such determination. If a Cumulative Net Realized Tax Benefit in respect of such LLC Unit Holder is being calculated with respect to a portion of a taxable
year, then calculations of the Cumulative Net Realized Tax Benefit in respect of such LLC Unit Holder (including determinations relating to Basis Adjustments and Imputed Interest to the extent applicable) shall be made as if there were an interim
closing of the books of the relevant entity and its Subsidiaries and the taxable year had closed on the relevant date. 
 “Default
Rate” means LIBOR plus 200 basis points. 
 “Determination” shall have the meaning ascribed to such term in
Section 1313(a) of the Code or similar provision of state and local tax law, as applicable, or any other event (including the execution of IRS Form 870-AD) that finally and conclusively establishes the amount of any liability for Tax. 

“Early Termination Date” means the date of an Early Termination Notice for purposes of determining the Early Termination
Payment. 
 “Early Termination Effective Date” has the meaning set forth in Section 4.2 of this Agreement. 

“Early Termination Notice” has the meaning set forth in Section 4.2 of this Agreement. 

“Early Termination Schedule” has the meaning set forth in Section 4.2 of this Agreement. 

“Early Termination Payment” has the meaning set forth in Section 4.3(b) of this Agreement. 

“Early Termination Rate” means 8% per annum. 

“Exchange” means an acquisition or purchase, as determined for U.S. federal income tax purposes, of LLC Units (or, in the
case of a “disguised sale” described under Section 707 of the Code, of other interests in the Habit LLC) by Corporate Taxpayer or any of its wholly-owned Subsidiaries from a person (other than Corporate Taxpayer or any of its
wholly-owned Subsidiaries) who is party to this Agreement (including a permitted assignee under Section 7.5 who is a party by reason of a joinder), including by way of an exchange of Corporate Taxpayer shares for Habit LLC Units (or, at
the election of Corporate Taxpayer, for cash), in each case occurring on or after the date of this Agreement. For the avoidance of doubt, an Exchange includes (i) any disguised sale of an interest in Habit LLC under Section 707 of the Code
that occurs by reason of the distribution of proceeds from Habit LLC on or near the date hereof and the contribution of cash by Corporate Taxpayer and its wholly-owned Subsidiaries on or near the date hereof; and (ii) any disguised sale
occurring in connection with the exchange right described in the LLC Agreement. Any reference in this Agreement to Units “Exchanged” is intended to denote Units that are the subject of an Exchange. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

  
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 “Exchange Date” means the date of any Exchange. 

“Expert” has the meaning set forth in Section 7.8 of this Agreement. 

“Hypothetical Tax Liability” means in respect of an LLC Unit Holder, with respect to any taxable year or portion thereof, the
liability for Taxes for such taxable year or portion thereof of (i) Corporate Taxpayer, (ii) its wholly-owned Subsidiaries and (iii) without duplication, Habit LLC, but only with respect to Corporate Taxpayer and its wholly-owned
Subsidiaries’ pro rata shares of the Tax liability of Habit LLC and its Subsidiaries for such taxable year or portion thereof, in each case using the same methods, elections, conventions and similar practices used on the relevant Corporate
Taxpayer Return but (i) using the Non-Stepped Up Tax Basis in respect of such LLC Unit Holder and (ii) excluding any deduction attributable to Imputed Interest in respect of such LLC Unit Holder for the taxable year. For the avoidance of
doubt, the Hypothetical Tax Liability shall be determined without taking into account the carryover or carryback of any Tax item (or portions thereof) that is attributable to the Basis Adjustment or Imputed Interest with respect to such LLC Unit
Holder, as applicable. If a Hypothetical Tax Liability is being calculated with respect to a portion of a taxable year, then calculations of the Hypothetical Tax Liability (including determinations relating to Basis Adjustments and Imputed Interest
to the extent applicable) shall be made as if there were an interim closing of the books of the relevant entity and its Subsidiaries and the taxable year had closed on the relevant date. 

“Imputed Interest” means in respect of an LLC Unit Holder any interest imputed under Section 1272, 1274 or 483 or other
provision of the Code and any similar provision of state and local tax law with respect to Corporate Taxpayer’s payment obligations in respect of such LLC Unit Holder under this Agreement. 

“Initial Debt Documents” has the meaning set forth in Section 4.1(b) of this Agreement. 

“Interest Amount” has the meaning set forth in Section 3.1(b) of this Agreement. 

“IPO” has the meaning set forth in the Recitals of this Agreement. 

“IPO Closing” means the closing of the sale of the shares of Class A Common Stock in the IPO (without giving effect to
any exercise of the underwriters’ over-allotment option). 
 “IRS” means the Internal Revenue Service. 

“KarpReilly Representative” means KarpReilly, LLC or its designated successor. 

“LIBOR” means during any period, an interest rate per annum equal to the one-year LIBOR reported, on the date two days prior
to the first day of such period, on the Reuters Screen page “LIBOR01” (or if such screen shall cease to be publicly available, as reported by any other publicly available source of such market rate) for London interbank offered rates for
U.S. dollar deposits for such period. 
 “LLC Agreement” means the Amended and Restated Limited Liability Company Agreement
of Habit LLC, dated on or about the date hereof, as such agreement may be amended, restated, supplemented and/or otherwise modified from time to time. 

  
 5 

 “LLC Unit Holder” has the meaning set forth in the Recitals of this Agreement.

 “LLC Units” has the meaning set forth in the Recitals of this Agreement. 

“Market Value” shall mean the closing price per share of the Class A Common Stock on the applicable determination
date on the national securities exchange or interdealer quotation system on which such Class A Common Stock is then traded or listed, as reported by the Wall Street Journal (or other mutually acceptable electronic or print publication);
provided, that if the closing price is not reported by the Wall Street Journal (or such other mutually acceptable electronic or print publication) for the applicable determination date, then the “Market Value” shall
mean the closing price of the Class A Common Stock on the Business Day immediately preceding such determination date on the national securities exchange or interdealer quotation system on which such Class A Common Stock is then traded or
listed, as reported by the Wall Street Journal (or such other mutually acceptable electronic or print publication) provided further, that if the Class A Common Stock is not then listed on a national securities exchange or interdealer
quotation system, “Market Value” shall mean the fair market value of the Class A Common Stock on the applicable determination date, as determined by the Board in good faith. 

“Net Tax Benefit” has the meaning set forth in Section 3.1(b) of this Agreement. 

“Non-Stepped Up Tax Basis” means in respect of an LLC Unit Holder, with respect to any Reference Asset at any time, the Tax
basis that such asset would have had at such time if no Basis Adjustments had been made in respect of such LLC Unit Holder. 

“Objection Notice” has the meaning set forth in Section 2.2(a) of this Agreement. 

“Payment Date” means any date on which a payment is required to be made pursuant to this Agreement. 

“Person” means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust,
business association, organization, governmental entity or other entity. 
 “Pre-Exchange Transfer” means, with respect to
an LLC Unit (or, in the case of a “disguised sale” described under Section 707 of the Code, other interests in the Habit LLC), any transfer (including upon the death of an LLC Unit Holder) (i) that occurs prior to an Exchange of
such LLC Unit or LLC Units (or such other interests in Habit LLC) and (ii) to which Section 743(b) of the Code applies. 

“Realized Tax Benefit” means, in respect of an LLC Unit Holder for a taxable year (or portion thereof), the excess, if any,
of the Hypothetical Tax Liability in respect of such LLC Unit Holder for such taxable year (or portion thereof) over the actual liability for Taxes for such taxable year (or portion thereof) of (i) Corporate Taxpayer, (ii) its wholly-owned
Subsidiaries, and (iii) without duplication, Habit LLC and its Subsidiaries, but only with respect to Corporate Taxpayer and its wholly-owned Subsidiaries’ pro rata shares of the Tax liability of Habit LLC and its Subsidiaries for such
taxable year (or portion thereof). If all or a portion of the actual liability for such Taxes for the taxable year arises as a result of an audit by a Taxing Authority of any taxable year, such liability shall not be included in determining the
Realized Tax Benefit in 

  
 6 

 
respect of such LLC Unit Holder unless and until there has been a Determination. If an “actual liability” for Taxes is being calculated with respect to a portion of a taxable year, then
calculations of such actual liability (including determinations relating to Basis Adjustments and Imputed Interest to the extent applicable) shall be made as if there were an interim closing of the books of the relevant entity and its Subsidiaries
and the taxable year had closed on the relevant date. 
 “Realized Tax Detriment” means, in respect of an LLC Unit Holder
for a taxable year (or portion thereof), the excess, if any, of the actual liability for Taxes for such taxable year (or portion thereof) of (i) Corporate Taxpayer, (ii) its wholly-owned Subsidiaries, and (iii) without duplication,
Habit LLC and its Subsidiaries, but only with respect to Corporate Taxpayer and its wholly-owned Subsidiaries’ pro rata shares of the Tax liability of Habit LLC and its Subsidiaries for such taxable year (or portion thereof) over the
Hypothetical Tax Liability in respect of such LLC Unit Holder for such taxable year (or portion thereof). If all or a portion of the actual liability for such Taxes for the taxable year arises as a result of an audit by a Taxing Authority of any
taxable year, such liability shall not be included in determining the Realized Tax Detriment in respect of such LLC Unit Holder unless and until there has been a Determination. If an “actual liability” for Taxes is being calculated with
respect to a portion of a taxable year, then calculations of such actual liability (including determinations relating Basis Adjustments and Imputed Interest to the extent applicable) shall be made as if there were an interim closing of the books of
the relevant entity and its Subsidiaries and the taxable year had closed on the relevant date. 
 “Reconciliation Dispute”
has the meaning set forth in Section 7.8 of this Agreement. 
 “Reconciliation Procedures” has the meaning set
forth in Section 2.2(a) of this Agreement. 
 “Recapitalization” has the meaning set forth in the Recitals of
this Agreement. 
 “Recapitalization Agreement” means that certain Recapitalization Agreement dated as of November 19, 2014
by the parties hereto and certain other parties. 
 “Reference Asset” means (a) with respect to any Exchange, an asset
that is held by Habit LLC or by any of its direct or indirect subsidiaries treated as a partnership or disregarded entity for purposes of the applicable Tax, at the time of such Exchange and (b) any asset that is “substituted basis
property” under Section 7701(a)(42) of the Code with respect to a Reference Asset. 
 “Schedule” means any of the
following: (i) a Tax Benefit Schedule, or (ii) the Early Termination Schedule, and, in each case, any amendments thereto. 

“Senior Obligations” has the meaning set forth in Section 5.1 of this Agreement. 

“Subsidiary” means, with respect to any Person, as of any date of determination, any other Person as to which such Person,
owns, directly or indirectly, or otherwise controls more than 50% of the voting power or other similar interests or the sole general partner interest or managing member or similar interest of such Person. 

  
 7 

 “Tax Benefit Payment” has the meaning set forth in Section 3.1(b) of
this Agreement. 
 “Tax Benefit Schedule” has the meaning set forth in Section 2.1(a) of this Agreement. 

“Tax Return” means any return, declaration, election, report or similar statement filed or required to be filed with a Taxing
Authority with respect to Taxes (including any attached schedules), including any information return, claim for refund, declaration of estimated Tax, and amendments of any of the foregoing. 

“Taxes” means any and all U.S. federal, state and local taxes, assessments or similar charges that are based on or measured
with respect to net income or profits, and any interest related to such Tax. 
 “Taxing Authority” shall mean any domestic,
federal, national, state, county or municipal or other local government, any subdivision, agency, commission or authority thereof, or any quasi-governmental body exercising any taxing authority or any other authority exercising Tax regulatory
authority. 
 “Treasury Regulations” means the final, temporary and (to the extent they can be relied upon) proposed
regulations under the Code promulgated from time to time (including corresponding provisions and succeeding provisions) as in effect for the relevant taxable period. 

“Valuation Assumptions” shall mean, as of an Early Termination Date, the assumptions that (1) in each taxable year
ending on or after such Early Termination Date, Corporate Taxpayer and its wholly-owned Subsidiaries will have taxable income sufficient to fully use the deductions arising from the Basis Adjustments and the Imputed Interest during such taxable year
(including, for the avoidance of doubt, Basis Adjustments and Imputed Interest that would result from post-Early Termination Date Tax Benefit Payments that would be paid in accordance with the Valuation Assumptions) in which such deductions would
become available, (2) the U.S. federal income tax rates and state and local income tax rates that will be in effect for each such taxable year will be those specified for each such taxable year by the Code and other law as in effect on the
Early Termination Date (but taking into account for the applicable taxable years adjustments to the tax rates that have been enacted as of the Early Termination Date with a delayed effective date), (3) any loss carryovers generated by any Basis
Adjustment or Imputed Interest and available as of the Early Termination Date will be used by Corporate Taxpayer on a pro rata basis from the Early Termination Date through the scheduled expiration date of such loss carryovers, (4) any
non-amortizable assets (other than stock of the Corporate Taxpayer’s wholly-owned Subsidiaries with which the Corporate Taxpayer files a consolidated return) will be disposed of in a taxable sale on the fifteenth anniversary of the applicable
Basis Adjustment for an amount sufficient to fully use the Basis Adjustments with respect to such assets and any short-term investments will be disposed of 12 months following the Early Termination Date; provided that, in the event of a Change in
Control which includes a taxable sale of any relevant asset, such non-amortizable assets shall be deemed disposed of at the time of the Change in Control (if earlier than such fifteenth anniversary), (5) if, on the Early Termination Date, an
LLC Unit Holder has LLC Units that have not been Exchanged, then each such LLC Unit shall be deemed to be Exchanged for the Market Value of the Class A Common Stock on the Early Termination Date, and such LLC Unit Holder shall be deemed to
receive the amount of cash such LLC Unit 

  
 8 

 
Holder would have been entitled to pursuant to this Agreement had such LLC Units actually been Exchanged on the Early Termination Date, determined using the Valuation Assumptions and (6) any
payment obligations pursuant to this Agreement will be satisfied on the date that any Tax Return to which such payment obligation relates is required to be filed excluding any extensions. 

“Voting Securities” shall mean any securities of Corporate Taxpayer which are entitled to vote generally in matters submitted
for a vote of Corporate Taxpayer’s stockholders or generally in the election of the Board. 
 1.2. Terms Generally. In this
Agreement, unless otherwise specified or where the context otherwise requires: 
 (a) the headings of particular provisions of this
Agreement are inserted for convenience only and will not be construed as a part of this Agreement or serve as a limitation or expansion on the scope of any term or provision of this Agreement; 

(b) words importing any gender shall include other genders; 

(c) words importing the singular only shall include the plural and vice versa; 

(d) the words “include,” “includes” or “including” shall be deemed to be followed by the words “without
limitation”; 
 (e) the words “hereof,” “herein” and “herewith” and words of similar import shall, unless
otherwise stated, be construed to refer to this Agreement as a whole and not to any particular provision of this Agreement; 
 (f)
references to “Articles,” “Exhibits,” “Sections” or “Schedules” shall be to Articles, Exhibits, Sections or Schedules of or to this Agreement; 

(g) references to any Person include the successors and permitted assigns of such Person; 

(h) the use of the words “or,” “either” and “any” shall not be exclusive; 

(i) wherever a conflict exists between this Agreement and any other agreement among parties hereto, this Agreement shall control but solely to
the extent of such conflict; 
 (j) references to “$” or “dollars” means the lawful currency of the United States of
America; 
 (k) references to any agreement, contract or schedule, unless otherwise stated, are to such agreement, contract or schedule as
amended, modified or supplemented from time to time in accordance with the terms hereof and thereof; and 

  
 9 

 (l) the parties hereto have participated collectively in the negotiation and drafting of this
Agreement; accordingly, in the event an ambiguity or question of intent or interpretation arises, it is the intention of the parties that this Agreement shall be construed as if drafted collectively by the parties hereto, and that no presumption or
burden of proof shall arise favoring or disfavoring any party hereto by virtue of the authorship of any provisions of this Agreement. 

ARTICLE II. 
 DETERMINATION OF
CERTAIN REALIZED TAX BENEFIT 
 2.1. Tax Benefit Schedule. 

(a) Tax Benefit Schedule. Within ninety (90) calendar days after the due date (taking into account valid extensions) of the U.S.
federal income Tax Return of Corporate Taxpayer (or its wholly-owned Subsidiaries, as applicable) for any taxable year in which there is a Realized Tax Benefit or Realized Tax Detriment, Corporate Taxpayer shall provide to the KarpReilly
Representative and each LLC Unit Holder who has previously effected an Exchange a schedule showing in reasonable detail the calculation of the Realized Tax Benefit or Realized Tax Detriment in respect of such LLC Unit Holder for such taxable year
and any Tax Benefit Payment in respect of such LLC Unit Holder (a “Tax Benefit Schedule”). The Tax Benefit Schedules provided by Corporate Taxpayer will become final as provided in Section 2.2(a) and may be amended as
provided in Section 2.2(b). 
 (b) Applicable Principles. Subject to Section 3.3(a), the Realized Tax Benefit or
Realized Tax Detriment in respect of each LLC Unit Holder for each taxable year is intended to measure the decrease or increase in the actual liability for Taxes of Corporate Taxpayer and its wholly-owned Subsidiaries (and Habit LLC and its
Subsidiaries, as applicable and without duplication) for such taxable year (or portion thereof) attributable to the Basis Adjustments and the Imputed Interest, determined using a “with and without” methodology. For the avoidance of doubt,
the actual liability for Taxes of Corporate Taxpayer and its wholly-owned Subsidiaries (and Habit LLC and its Subsidiaries, as applicable and without duplication) will take into account any deduction of Imputed Interest. Carryovers or carrybacks of
any Tax item attributable to the Basis Adjustments and Imputed Interest shall be considered to be subject to the rules of the Code and the Treasury Regulations or the appropriate provisions of U.S. state and local income and franchise tax law, as
applicable, governing the use, limitation and expiration of carryovers or carrybacks of the relevant type. The parties agree that (i) all Tax Benefit Payments to an LLC Unit Holder attributable to the Basis Adjustments in respect of a taxable
Exchange (other than amounts accounted for as interest under the Code) will be treated as subsequent upward purchase price adjustments that have the effect of creating additional Basis Adjustments in respect of such LLC Unit Holder to Reference
Assets for the Corporate Taxpayer or its wholly-owned Subsidiaries, as applicable, in the year of payment, and (ii) as a result, such additional Basis Adjustments in respect of such LLC Unit Holder will be incorporated into the current year
calculation and into future year calculations, as appropriate. 

  
 10 

 2.2. Procedure, Amendments. 

(a) Procedure. Every time Corporate Taxpayer delivers to the KarpReilly Representative an applicable Schedule under this Agreement,
including any Amended Schedule delivered pursuant to Section 2.2(b), including any Early Termination Schedule or amended Early Termination Schedule, Corporate Taxpayer shall also allow the KarpReilly Representative reasonable access, at
the Corporate Taxpayer’s sole cost, to the appropriate representatives, as determined by Corporate Taxpayer, at Corporate Taxpayer and the Advisory Firm that prepared the relevant Corporate Taxpayer Returns in connection with a review of such
Schedule. Without limiting the application of the preceding sentence, the Corporate Taxpayer shall, upon request, deliver to the KarpReilly Representative the relevant Corporate Taxpayer Returns as well as any other work papers but shall be entitled
to redact any information that it reasonably believes is unnecessary for purposes of the calculations contemplated by this Agreement. An applicable Schedule or amendment thereto shall, subject to the final sentence of this Section 2.2(a),
become final and binding on each LLC Unit Holder (other than with respect to KarpReilly, LLC and its Affiliates) immediately; except that the Schedule or amendment shall become final and binding with respect to KarpReilly, LLC and its Affiliates
thirty (30) calendar days from the first date on which the Corporate Taxpayer sent the KarpReilly Representative the applicable Schedule or amendment thereto unless (a) the KarpReilly Representative within thirty (30) calendar days
after the date Corporate Taxpayer sent such Schedule or amendment thereto provides Corporate Taxpayer with written notice of a material objection to such Schedule made in good faith and setting forth in reasonable detail the KarpReilly
Representative’s material objection along with a letter from an Advisory Firm supporting such objection, if such objection relates to the application of Tax law (an “Objection Notice”) or (b) the KarpReilly Representative
provides a written waiver of the right of the KarpReilly Representative to provide any Objection Notice with respect to such Schedule or amendment thereto within the period described in clause (i), in which case such Schedule or amendment thereto
becomes binding on the date the waiver is received by Corporate Taxpayer. If the parties are unable to resolve the issues raised in such Objection Notice within thirty (30) calendar days after receipt by Corporate Taxpayer of the Objection
Notice, the parties shall employ the reconciliation procedures described in Section 7.8 of this Agreement (the “Reconciliation Procedures”). If a Schedule relating to the calculation of payments payable to KarpReilly,
LLC or any of its Affiliates hereunder is amended to reflect a revised calculation methodology that, if utilized in the calculation of amounts payable to one or more other LLC Unit Holders, would change the amounts payable to such other Persons
hereunder, the Corporate Taxpayer shall utilize such revised methodology with respect to all LLC Unit Holders and make additional payments (or reduce future payments), as applicable. 

(b) Amended Schedule. The applicable Schedule for any taxable year may be amended from time to time by Corporate Taxpayer (i) in
connection with a Determination affecting such Schedule, (ii) to correct inaccuracies in the Schedule identified after the date the Schedule was provided to the LLC Unit Holder, (iii) to comply with an Expert’s determination under the
Reconciliation Procedures applicable to this Agreement, (iv) to reflect a change in the Realized Tax Benefit or Realized Tax Detriment in respect of an LLC Unit Holder for such taxable year attributable to a carryback or carryforward of a loss
or other tax item to such taxable year, (v) to reflect a change in the Realized Tax Benefit or Realized Tax Detriment in respect of an LLC Unit Holder for such taxable year attributable to an amended Tax Return filed for such taxable year, or
(vi) to take into account payments made pursuant to this Agreement (any such Schedule, an “Amended Schedule”). 

  
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 2.3. Consistency with Tax Returns. Notwithstanding anything to the contrary herein, all
calculations and determinations hereunder, including Basis Adjustments, the Schedules, and the determination of the Realized Tax Benefit or Realized Tax Detriment, shall be made in accordance with any elections, methodologies or positions taken on
the relevant Corporate Taxpayer Returns. 
 ARTICLE III. 

TAX BENEFIT PAYMENTS 
 3.1.
Payments. 
 (a) Payments. Subject to Section 3.3, within five (5) Business Days after the Tax Benefit Schedule with
respect to the taxable year delivered to each LLC Unit Holder entitled to receive a Tax Benefit Schedule pursuant to this Agreement becomes final in accordance with Article II of this Agreement, Corporate Taxpayer shall pay or cause to be paid to
each applicable LLC Unit Holder for such taxable year such LLC Unit Holder’s Tax Benefit Payment (if any) determined pursuant to Section 3.1(b). Each such payment shall be made, at the sole discretion of Corporate Taxpayer, by wire
or Automated Clearing House transfer of immediately available funds to the bank account previously designated by the applicable LLC Unit Holder to Corporate Taxpayer or as otherwise agreed by Corporate Taxpayer and the applicable LLC Unit Holder.

 (b) A “Tax Benefit Payment” in respect of an LLC Unit Holder for a taxable year means an aggregate amount, not less than
zero, which Corporate Taxpayer is required to pay or cause to be paid pursuant to Section 3.1 of this Agreement, equal to the sum of the Net Tax Benefit and the Interest Amount in respect of such LLC Unit Holder. For the avoidance of
doubt, for Tax purposes, the Interest Amount shall not be treated as interest but instead shall be treated as additional consideration for the acquisition of Units in Exchanges, unless otherwise required by law, as reasonably determined by Corporate
Taxpayer. The “Net Tax Benefit” in respect of such LLC Unit Holder for a taxable year shall be an amount equal to the excess, if any, of 85% of the Cumulative Net Realized Tax Benefit in respect of such LLC Unit Holder as of the end
of such taxable year (or portion thereof) over the total amount of payments previously made under this Section 3.1 in respect of such LLC Unit Holder (excluding payments of Interest Amounts); provided, for the avoidance of doubt,
that an LLC Unit Holder shall not be required to return any portion of any previously made Tax Benefit Payment except in the case of manifest error. The “Interest Amount” in respect of such LLC Unit Holder for a taxable year (or
portion thereof) shall equal the interest on the Net Tax Benefit in respect of such LLC Unit Holder with respect to such taxable year (or portion thereof) calculated at the Agreed Rate compounded annually from the due date (without extensions) for
filing the U.S. federal income Tax Return of Corporate Taxpayer for such taxable year until the Payment Date. The Net Tax Benefit and the Interest Amount shall be determined separately with respect to each separate Exchange on an individual basis by
reference to the resulting Basis Adjustment to the Corporate Taxpayer. 
 3.2. Duplicative Payments. It is intended that the
provisions of this Agreement will not result in a duplicative payment of any amount (including interest) required under this Agreement. It is also intended that the provisions of this Agreement, subject to ARTICLE IV and Section 7.12, will
result in 85% of the Cumulative Net Realized Tax Benefit (but calculated taking into account all Exchanges by all LLC Unit Holders as of any time) as of any 

  
 12 

 
determination date being paid to the LLC Unit Holders pursuant to this Agreement. The provisions of this Agreement shall be construed in the appropriate manner to ensure such intentions are
realized. 
 3.3. Pro Rata Payments; Coordination of Benefits. 

(a) Notwithstanding anything in Section 3.1 to the contrary, to the extent that the aggregate tax benefit of the Corporate
Taxpayer’s, and/or its wholly-owned Subsidiaries’, as applicable, deduction with respect to the Basis Adjustments and Imputed Interest under this Agreement is limited in a particular taxable year because the Corporate Taxpayer and/or its
wholly-owned Subsidiaries, as applicable, does or do not have sufficient taxable income or other limitations to the utilization of the tax benefits of the Basis Adjustments or Imputed Interest apply, the Net Tax Benefit shall be allocated among all
parties eligible for payments hereunder in proportion to the respective amounts of Net Tax Benefit that would have been allocated to each such party if the Corporate Taxpayer and, as applicable, its wholly-owned Subsidiaries, had sufficient taxable
income so that there were no such limitation (or such other limitations did not apply). 
 (b) After taking into account
Section 3.3(a), if for any reason the Corporate Taxpayer does not fully satisfy its payment obligations to make or cause to be made all Tax Benefit Payments due under this Agreement in respect of a particular Taxable Year, then the Corporate
Taxpayer and the parties agree that no Tax Benefit Payment shall be made in respect of any Taxable Year until all Tax Benefit Payments in respect of prior Taxable Years have been made in full. If for any reason the Tax Benefit Payments are to be
partially but not fully satisfied with respect to a taxable year, such Tax Benefit Payments shall be made in the same proportion as the Tax Benefit Payments that would have been paid to each LLC Unit Holders if the Corporate Taxpayer were to satisfy
its obligation in full. 
 ARTICLE IV. 

TERMINATION 
 4.1. Early
Termination, Change in Control and Breach of Agreement. 
 (a) Corporate Taxpayer may, with the consent of a majority of the
disinterested members of the Board, terminate this Agreement with respect to all amounts payable to all of the LLC Unit Holders (including, for the avoidance of doubt, any transferee pursuant to Section 7.5(a)) at any time by paying or
causing to be paid to such Persons an Early Termination Payment; provided, however, that this Agreement shall only terminate with respect to any such Person upon the payment of such Early Termination Payment to such Person, and
provided, further, that Corporate Taxpayer may withdraw any notice to execute its termination rights under this Section 4.1(a) prior to the time at which any Early Termination Payment has been paid. Upon payment of an Early
Termination Payment to an LLC Unit Holder, neither the LLC Unit Holder nor Corporate Taxpayer shall have any further payment obligations under this Agreement, other than for any Tax Benefit Payment (1) agreed to by Corporate Taxpayer and the
LLC Unit Holder as due and payable but unpaid as of the Early Termination Date, (2) that is the subject of an Objection Notice, which will be payable in accordance with resolution of the issues identified in such Objection Notice pursuant to
this Agreement, and (3) due for the taxable year 

  
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ending with or including the Early Termination Date (except to the extent that the amounts described in clauses (1), (2) and (3) are included in the calculation of the Early Termination
Payment). If an Exchange occurs with respect to LLC Units (or other interests in the company pursuant to a “disguised sale” transaction for U.S. federal income tax purposes) with respect to which Corporate Taxpayer has previously paid or
cause to be paid to the applicable LLC Unit Holder an Early Termination Payment, Corporate Taxpayer shall have no obligations under this Agreement with respect to such Exchange. 

(b) In the event that there occurs a Change in Control (and, in the case of a Change in Control described in clause (i), (ii) or
(iii) of such term, contingent upon consummation of the transaction described in such clause) or Corporate Taxpayer materially breaches any of its material obligations under this Agreement, whether as a result of failure to make any payment
when due, failure to honor any other material obligation required hereunder or by operation of law as a result of the rejection of this Agreement in a case commenced under the Bankruptcy Code or otherwise, then all obligations hereunder shall be
accelerated, and such obligations shall be calculated as if an Early Termination Notice had been delivered on the date of such Change in Control or breach, as applicable, to each LLC Unit Holder and shall include (1) each Early Termination
Payment calculated as if an Early Termination Notice had been delivered on the date of such Change in Control or breach (and Corporate Taxpayer shall provide each LLC Unit Holder with an Early Termination Schedule, which shall become final in
accordance with the procedures set forth in Section 4.2), (2) any Tax Benefit Payment agreed to by Corporate Taxpayer and any LLC Unit Holder as due and payable but unpaid as of the date of such Change in Control or breach, as
applicable, (3) any Tax Benefit Payment that is the subject of an Objection Notice, which will be payable in accordance with resolution of the issues identified in such Objection Notice pursuant to this Agreement, and (4) any Tax Benefit
Payment due for the taxable year ending with or including the date of such Change in Control or breach, as applicable (except to the extent that the amounts described in clauses (2), (3) and (4) are included in the calculation of the
amount described in clause (1)). Notwithstanding the foregoing, in the event that Corporate Taxpayer materially breaches this Agreement, each LLC Unit Holder shall be entitled to elect to receive the amounts set forth in clauses (1), (2),
(3) and (4) above or to seek specific performance of the terms hereof. The parties agree that it will not be considered to be a material breach of a material obligation under this Agreement to make a payment due pursuant to this Agreement
within six months of the date such payment is due. Notwithstanding anything in this Agreement to the contrary, it shall not be a breach of this Agreement if Corporate Taxpayer fails to make or cause to be made any Tax Benefit Payment (or portion
thereof) when due to the extent that the Board determines in good faith that Corporate Taxpayer has insufficient funds (taking into account funds of its wholly-owned Subsidiaries that are permitted to be distributed to Corporate Taxpayer pursuant to
the terms of any applicable credit agreements or other documents evidencing indebtedness (each as reasonably interpreted by the Board), but not taking into account funds of its wholly-owned Subsidiaries that are not permitted to be distributed
pursuant to the terms of such agreements or documents and not taking into account funds reasonably reserved for reasonably expected liabilities or expenses) to make such payment; provided that the interest provisions of
Section 5.2 shall apply to such late payment (unless the Board determines in good faith that (x) Corporate Taxpayer does not have sufficient cash to make such payment as a result of limitations imposed by credit agreements or any
other documents evidencing indebtedness to which Habit LLC is a party, guarantor or otherwise an obligor as of the date of this Agreement (or within the one-year anniversary of the 

  
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date of this Agreement) (the “Initial Debt Documents”) or any other document evidencing indebtedness to which Habit LLC becomes a party, guarantor or otherwise an obligor
thereafter to the extent the terms of such other documents are not materially more restrictive in respect of Corporate Taxpayer’s ability to receive from its direct or indirect Subsidiaries funds sufficient to make such payments compared to the
terms of the Initial Debt Documents (as determined by the Board in good faith), or (y) such payments could (I) be set aside as fraudulent transfers or conveyances or similar actions under fraudulent transfer laws or (II) could cause
Corporate Taxpayer and/or its wholly-owned Subsidiaries to be undercapitalized, in which case Section 5.2 shall apply, but the Default Rate shall be replaced by the Agreed Rate). 

4.2. Early Termination Notice. If Corporate Taxpayer chooses to exercise its right of early termination under Section 4.1
above, Corporate Taxpayer shall deliver to the KarpReilly Representative and each LLC Unit Holder notice of such intention to exercise such right (“Early Termination Notice”) and a schedule (the “Early Termination
Schedule”) specifying Corporate Taxpayer’s intention to exercise such right and showing in reasonable detail the calculation of the Early Termination Payment for such LLC Unit Holder. The Early Termination Schedule provided to an LLC
Unit Holder shall become final and binding on each LLC Unit Holder (other than with respect to KarpReilly, LLC and its Affilitates) immediately; except that the Early Termination Schedule will become final and binding with respect to KarpReilly, LLC
and its Affiliates thirty (30) calendar days from the first date on which the Corporate Taxpayer sent the Karp Reilly Representative such Early Termination Schedule unless (a) the KarpReilly Representative within thirty (30) calendar
days after the date the Corporate Taxpayer sent such Schedule or amendment thereto provides Corporate Taxpayer with an Objection Notice with respect to such Early Termination Schedule or (b) the applicable LLC Unit Holder provides a written
waiver of the right of the KarpReilly Representative to provide any Objection Notice with respect to such Schedule or amendment thereto within the period described in clause (a), in which case such Schedule or amendment thereto becomes binding on
the date the waiver is received by Corporate Taxpayer. If Corporate Taxpayer and the KarpReilly Representative, for any reason, are unable to resolve the issues raised in such Objection Notice within thirty (30) calendar days after receipt by
Corporate Taxpayer of the Objection Notice, Corporate Taxpayer and the KarpReilly Representative shall employ the Reconciliation Procedures. The date on which every Early Termination Schedule under this Agreement becomes final in accordance with
this Section 4.2 shall be the “Early Termination Effective Date”. If the Early Termination Schedule relating to the calculation of payments payable to KarpReilly, LLC or any of its Affiliates hereunder is amended to
reflect a revised calculation methodology that, if utilized in the calculation of amounts payable to one or more other LLC Unit Holders, would change the amounts payable to such other Persons hereunder, the Corporate Taxpayer shall utilize such
revised methodology with respect to all LLC Unit Holders and make additional payments (or reduce payments, if any), as applicable. 
 4.3.
Payment upon Early Termination. 
 (a) Within five (5) Business Days after the Early Termination Effective Date, Corporate
Taxpayer shall pay or cause to be paid to each LLC Unit Holder an amount equal to its Early Termination Payment. Such payment shall be made, at the sole discretion of Corporate Taxpayer, by wire or Automated Clearing House transfer of immediately
available funds to a bank account or accounts designated by the LLC Unit Holder or as otherwise agreed by 

  
 15 

 
Corporate Taxpayer and the LLC Unit Holder. Notwithstanding the foregoing, in the event of an acceleration of Corporate Taxpayer’s payment obligations hereunder pursuant to a Change in
Control described in clauses (i), (ii) or (iii) of the definition of such term, Corporate Taxpayer’s payment obligations pursuant to such Change in Control shall not be due and payable prior to, and shall be contingent upon, the
consummation of the transactions described in such clauses. 
 (b) An “Early Termination Payment” in respect of an LLC Unit
Holder shall equal the net present value, discounted at the Early Termination Rate as of the Early Termination Date, of all Tax Benefit Payments that would be required to be paid by Corporate Taxpayer to the applicable LLC Unit Holder under
Section 3.1(a) of this Agreement beginning from the Early Termination Date and assuming that the Valuation Assumptions are applied. 

ARTICLE V. 
 SUBORDINATION AND
LATE PAYMENTS 
 5.1. Subordination. Notwithstanding any other provision of this Agreement to the contrary, any Tax Benefit
Payment (or portion thereof) or Early Termination Payment required to be made to an LLC Unit Holder under this Agreement shall rank subordinate and junior in right of payment to any principal, interest (including interest which accrues after the
commencement of any case or proceeding in bankruptcy, or the reorganization of the Corporate Taxpayer or any Subsidiary thereof), fees, premiums, charges, expenses, attorneys’ fees or other obligations in respect of indebtedness for borrowed
money of Corporate Taxpayer (and its wholly-owned Subsidiaries, if applicable) (“Senior Obligations”) and shall rank pari passu with all current or future unsecured obligations of Corporate Taxpayer (and its wholly-owned
Subsidiaries, as applicable) that are not Senior Obligations. 
 5.2. Late Payments by Corporate Taxpayer. The amount of all or any
portion of any Tax Benefit Payment or Early Termination Payment not made to an LLC Unit Holder when due under the terms of this Agreement shall be payable together with any interest thereon, computed at the Default Rate (or the Agreed Rate, to the
extent expressly contemplated by this Agreement) and commencing from the date on which such Tax Benefit Payment (or portion thereof) or Early Termination Payment was due and payable. 

ARTICLE VI. 
 NO DISPUTES;
CONSISTENCY; COOPERATION 
 6.1. Participation in Corporate Taxpayer’s and Habit LLC’s Tax Matters. Except as otherwise
provided herein or in the Recapitalization Agreement or LLC Agreement, Corporate Taxpayer shall have full responsibility for, and sole discretion over, all Tax matters concerning Corporate Taxpayer (and its wholly-owned Subsidiaries), Habit LLC and
their respective Subsidiaries, including the preparation, filing or amending of any Tax Return and defending, contesting or settling any issue pertaining to Taxes. Notwithstanding the foregoing, the Corporate Taxpayer shall notify the KarpReilly
Representative of, and keep the KarpReilly Representative reasonably informed with respect to, the portion of any audit of the Corporate Taxpayer and Habit LLC by a Taxing Authority the outcome of which is reasonably expected to affect the rights
and obligations of KarpReilly, LLC and its Affiliates under this Agreement, and shall provide to the KarpReilly Representative reasonable opportunity to provide information 

  
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and other input to the Corporate Taxpayer, Habit LLC and their respective advisors concerning the conduct of any such portion of such audit; provided, however, that the Corporate Taxpayer and
Habit LLC shall not take any action that is inconsistent with any provision of the LLC Agreement. 
 6.2. Consistency. Corporate
Taxpayer and each LLC Unit Holder agree to report and cause to be reported for all purposes, including federal, state and local Tax purposes, all Tax-related items (including the Basis Adjustments and each Tax Benefit Payment and any Imputed
Interest) in a manner consistent with that specified by Corporate Taxpayer in any Schedule provided by or on behalf of Corporate Taxpayer under this Agreement unless otherwise required by law based on written advice of an Advisory Firm. Each LLC
Unit Holder that does intend to report inconsistently with Corporate Taxpayer in any Schedule provided by or on behalf of Corporate Taxpayer under this Agreement shall provide thirty (30) days advance written notice to the Corporate Taxpayer.

 6.3. Cooperation. Each LLC Unit Holder shall (a) furnish to Corporate Taxpayer in a timely manner such information, documents
and other materials as Corporate Taxpayer may reasonably request for purposes of making any determination or computation necessary or appropriate under this Agreement, preparing any Tax Return, complying with any Tax law, or contesting or defending
any audit, examination or controversy with any Taxing Authority or other governmental authority, (b) make itself available to Corporate Taxpayer and its representatives to provide explanations of documents and materials and such other
information as Corporate Taxpayer or its representatives may reasonably request in connection with any of the matters described in clause (a) above, and (c) reasonably cooperate in connection with any such matter, and Corporate Taxpayer
shall reimburse the LLC Unit Holder for any reasonable third-party costs and expenses incurred pursuant to this Section 6.3. 

ARTICLE VII. 
 MISCELLANEOUS

 7.1. Notices. All notices, requests, consents and other communications hereunder shall be in writing and shall be given (and
shall be deemed to have been duly given upon receipt) by delivery in person, by courier service, by fax, by electronic mail (delivery receipt requested) or by certified or registered mail (postage prepaid, return receipt requested) to the respective
parties at the following addresses (or at such other address for a party as shall be as specified in a notice given in accordance with this Section 7.1). All notices hereunder shall be delivered as set forth below, or pursuant to such
other instructions as may be designated in writing by the party to receive such notice: 
 If to Corporate Taxpayer or Habit LLC, to: 

The Habit Restaurants, LLC 

17320 Red Hill Avenue 
 Suite
140 
 Irvine, California 92614 

Attention: Russell Bendel 

Facsimile: (949) 852-4650 

E-mail: RBendel@habitburger.com 

  
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 with a copy (which shall not constitute notice) to: 

Ropes & Gray LLP 
 1211
Avenue of the Americas 
 New York, New York 10036 

Attention: Carl Marcellino, Esq. 

Facsimile: (646) 728-1523 

E-mail: carl.marcellino@ropesgray.com 

with a copy (which shall not constitute notice) to: 

Karp Reilly, LLC 
 104 Field
Point Road 
 Greenwich, CT 06830 

Attention: Christopher Reilly 

Facsimile: (203) 504-9912 

E-mail: creilly@karpreilly.com 
 If to
any LLC Unit Holder, to the address and other contact information set forth in the records of Corporate Taxpayer from time to time. 
 Any
party may change its address, fax number or e-mail by giving the other party written notice of its new address or fax number in the manner set forth above. 

7.2. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which
together shall constitute one and the same instrument. A facsimile signature page (or signature page in similar electronic form) hereto shall be treated by the parties for all purposes as equivalent to a manually signed signature page. 

7.3. Entire Agreement; Third Party Beneficiaries. This Agreement constitutes the entire agreement and supersedes all prior agreements
and understandings, both written and oral, among the parties with respect to the subject matter hereof. This Agreement shall be binding upon and inure solely to the benefit of each party hereto and their respective successors and permitted assigns,
and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 

7.4. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Agreement is held invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other
provision or any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 

  
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 7.5. Successors; Assignment; Amendments; Waivers. 

(a) An LLC Unit Holder shall be permitted to transfer any of its rights only upon execution and delivery by the transferee of a joinder to this
Agreement, in form and substance substantially similar to Exhibit A to this Agreement, in which the transferee agrees to become an “LLC Unit Holder” for all purposes of this Agreement, except as otherwise provided in such joinder. If an
LLC Unit Holder transfers LLC Units to a Person other than Corporate Taxpayer or any of its wholly-owned Subsidiaries but does not assign to the transferee of such LLC Units such LLC Unit Holder’s rights under this Agreement with respect to
such transferred LLC Units, such rights under this Agreement with respect to such LLC Units shall terminate. If KarpReilly, LLC and or one of its Affiliates assigns its rights under this Agreement, such transferee shall also have the rights provided
to the KarpReilly Representative. 
 (b) No provision of this Agreement may be amended unless such amendment is approved in writing by
Corporate Taxpayer and a majority of LLC Unit Holders party to the Agreement (measured by present value of payments due under this Agreement, using the present value calculation and assumptions described under Section 4.3(b) above
assuming for such purpose the Effective Termination Date is the date the amendment is proposed to the LLC Unit Holders) and the KarpReilly Representative to the extent such amendment would affect the rights of the KarpReilly Representative. No
provision of this Agreement may be waived unless such waiver is in writing and signed by the party against whom the waiver is to be effective. 

(c) All of the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the
parties hereto and their respective successors, permitted assigns, heirs, executors, administrators and legal representatives. Corporate Taxpayer shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or
otherwise) to all or substantially all of the business or assets of Corporate Taxpayer, by written agreement, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that Corporate Taxpayer would be required
to perform if no such succession had taken place (except to the extent expressly provided by this Agreement and provided that, for the avoidance of doubt, if a Change in Control has occurred and an Early Termination Payment is required to be made
then the Corporate Taxpayer’s payment obligations shall be determined taking into account the provisions of ARTICLE IV). 
 7.6.
Titles and Subtitles. The titles of the sections and subsections of this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. 

7.7. Governing Law; Jurisdiction; Waiver of Jury Trial. This Agreement shall be governed by the laws of the state of Delaware. To the
fullest extent permitted by law, no suit, action or proceeding with respect to this Agreement may be brought in any court or before any similar authority other than in the Delaware Chancery Court, and the parties hereto hereby submit to the
exclusive jurisdiction of such courts for the purpose of such suit, proceeding or judgment. To the fullest extent permitted by law, each party hereto irrevocably waives any right it may have had to bring such an action in any other court, domestic
or foreign, or before any similar domestic or foreign authority. Each of the parties hereto hereby irrevocably and unconditionally waives trial by jury in any legal action or proceeding in relation to this Agreement and for any counterclaim herein.

  
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 7.8. Reconciliation. In the event that Corporate Taxpayer and the KarpReilly
Representative are unable to resolve a disagreement with respect to the matters governed by ARTICLE II or ARTICLE IV within the relevant period designated in this Agreement (“Reconciliation Dispute”), the
Reconciliation Dispute shall be submitted for determination to a nationally recognized expert (the “Expert”) in the particular area of disagreement mutually acceptable to such parties. The Expert shall be a partner or principal in a
nationally recognized accounting or law firm, and (unless Corporate Taxpayer and the KarpReilly Representative agree otherwise), the Expert shall not, and the firm that employs the Expert shall not, have any material relationship with Corporate
Taxpayer or KarpReilly, LLC or its Affiliates or other actual or potential conflict of interest. If the applicable parties are unable to agree on an Expert within fifteen (15) calendar days of the end of the thirty (30) calendar-day period
set forth in Section 2.1 or Section 4.2, the Expert shall be appointed by the International Chamber of Commerce Centre for Expertise. The Expert shall resolve any matter relating to the Early Termination Schedule or an amendment
thereto within thirty (30) calendar days and shall resolve any matter relating to a Tax Benefit Schedule or an amendment thereto within fifteen (15) calendar days or, in each case, as soon thereafter as is reasonably practicable, in each
case after the matter has been submitted to the Expert for resolution. If the matter is not resolved before any payment that is the subject of a disagreement would be due (in the absence of such disagreement), the undisputed amount shall be paid on
the date prescribed by this Agreement, subject to adjustment upon resolution. For the avoidance of doubt, this Section 7.8 shall not restrict the ability of Corporate Taxpayer or its Affiliates to determine when or whether to file or
amend any Tax Return. The costs and expenses relating to the engagement of such Expert or amending any Tax Return shall be borne equally by Corporate Taxpayer and KarpReilly, LLC and/or its Affiliates, as applicable participating in the
Reconciliation Dispute. Any dispute as to whether a dispute is a Reconciliation Dispute within the meaning of this Section 7.8 shall be decided by the Expert. The Expert shall finally determine any Reconciliation Dispute and the
determinations of the Expert pursuant to this Section 7.8 shall be binding on Corporate Taxpayer and the KarpReilly, LLC and/or its Affiliates, as applicable participating in the Reconciliation Dispute and may be entered and enforced in
any court having jurisdiction. 
 7.9. Withholding. Corporate Taxpayer shall be entitled to deduct and withhold or cause to be
deducted and withheld from any payment payable pursuant to this Agreement to a present or former LLC Unit Holder such amounts as Corporate Taxpayer determines in good faith it is required to deduct and withhold with respect to the making of such
payment under the Code or any provision of state, local or foreign tax law. To the extent that amounts are so withheld and paid over to the appropriate Taxing Authority by Corporate Taxpayer, such withheld amounts shall be treated for all purposes
of this Agreement as having been paid to such LLC Unit Holder. 
 7.10. Admission of Corporate Taxpayer into a Consolidated Group;
Transfers of Corporate Assets. 
 (a) If Corporate Taxpayer and its wholly-owned Subsidiaries are or become members of a combined,
consolidated, affiliated or unitary group that files a consolidated, 

  
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combined or unitary income tax return pursuant to Sections 1501 et seq. of the Code or any corresponding provisions of state or local law, then: (i) the provisions of this Agreement shall be
applied with respect to the relevant group as a whole; and (ii) Tax Benefit Payments, Net Tax Benefit, Cumulative Net Realized Tax Benefit, Realized Tax Benefit, Realized Tax Detriment, Early Termination Payments and other applicable items
hereunder shall be computed with reference to the consolidated (or combined or unitary, where applicable) taxable income, gain, loss, deduction and attributes of the relevant group as a whole. 

(b) If any entity that is or may be obligated to make a Tax Benefit Payment or Early Termination Payment hereunder, or any entity any portion
of the income of which is included in the income of the Corporate Taxpayer’s consolidated, combined, affiliated or unitary group, directly or indirectly transfers (as determined for U.S. federal income tax purposes) one or more assets to a
Person classified as a corporation for U.S. income tax purposes with which such entity does not file a consolidated income tax return pursuant to Section 1501 et seq. of the Code (or, for purposes of calculations relating to state or local
taxes, a consolidated, combined or unitary income tax return under applicable state or local law), such entity, for purposes of calculating the amount of any Tax Benefit Payment or Early Termination Payment (e.g., calculating the gross income of the
entity and, if applicable, determining the Realized Tax Benefit of such entity) due hereunder, shall be treated as having disposed of such asset in a fully taxable transaction on the date of such transfer. The consideration deemed to be received by
such entity shall be equal to the fair market value of the transferred asset, increased by the amount of debt that would increase the transferor’s “amount realized” for U.S. federal income tax purposes in connection with such
transfer, in the case of a contribution of an encumbered asset (including an interest in an entity classified for U.S. federal income tax purposes as a partnership which has debt outstanding). For the avoidance of doubt, a transaction treated for
U.S. federal income tax purposes as a liquidation into Corporate Taxpayer of one or more of its wholly-owned Subsidiaries or merger of one or more of such entities into one another or Corporate Taxpayer will not cause any such Persons to be treated
as having disposed of any of its assets for purposes of this Section 7.10(b). In the event there occurs a transaction described in the preceding sentence, the Tax Benefit Payments and any other amounts due under this Agreement shall be
calculated without regard to such transaction. 
 7.11. Confidentiality. Each LLC Unit Holder and each of its assignees acknowledge
and agree that the information of Corporate Taxpayer is confidential and, except in the course of performing any duties as necessary for Corporate Taxpayer and its Affiliates, as required by law or legal process or to enforce the terms of this
Agreement, such person shall keep and retain in the strictest confidence and not disclose to any Person any confidential matters acquired pursuant to this Agreement of Corporate Taxpayer and its Affiliates and successors, learned by the LLC Unit
Holder heretofore or hereafter. This Section 7.11 shall not apply to (i) any information that has been made publicly available by Corporate Taxpayer or any of its Affiliates, becomes public knowledge (except as a result of an act of
the LLC Unit Holder in violation of this Agreement) or is generally known to the business community and (ii) the disclosure of information to the extent necessary for the LLC Unit Holder to prepare and file its Tax Returns, to respond to any
inquiries regarding the same from any Taxing Authority or to prosecute or defend any action, proceeding or audit by any Taxing Authority with respect to such Tax Returns. Notwithstanding anything to the contrary herein or in any other agreement, the
LLC Unit Holders and each of their assignees (and each employee, representative or other agent of the LLC Unit Holders or 

  
 21 

 
their assignees, as applicable) may disclose to any and all Persons, without limitation of any kind, the tax treatment and tax structure and any related tax strategies of or relating to Corporate
Taxpayer and its Affiliates, the LLC Unit Holder or assignee, and any of their transactions or agreements, and all materials of any kind (including opinions or other tax analyses) that are provided to the LLC Unit Holder or assignee relating to such
tax treatment and tax structure and any related tax strategies. 
 If the LLC Unit Holder or an assignee commits a breach, or threatens to
commit a breach, of any of the provisions of this Section 7.11, Corporate Taxpayer and its Affiliates shall have the right and remedy to have the provisions of this Section 7.11 specifically enforced by injunctive relief or
otherwise by any court of competent jurisdiction without the need to post any bond or other security, it being acknowledged and agreed that any such breach or threatened breach shall cause irreparable injury to Corporate Taxpayer or its Affiliates
and the accounts and funds managed by Corporate Taxpayer and that money damages alone shall not provide an adequate remedy to such Persons. Such rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available
at law or in equity. 
 7.12. Change in Law. Notwithstanding anything herein to the contrary, if, in connection with an actual or
proposed change in law, an LLC Unit Holder reasonably believes that the existence of this Agreement could cause income (other than income arising from receipt of a payment under this Agreement) recognized by such LLC Unit Holder (or direct or
indirect equity holders in such LLC Unit Holder) upon the IPO, Recapitalization or any Exchange to be treated as ordinary income rather than capital gain (or otherwise taxed at ordinary income rates) for U.S. federal income tax purposes or could
have other material adverse tax consequences to the LLC Unit Holder or any direct or indirect owner of the LLC Unit Holder, then at the election of the LLC Unit Holder and to the extent specified by the LLC Unit Holder, this Agreement shall cease to
have further effect with respect to such LLC Unit Holder and shall for clarity not apply to an Exchange by such LLC Unit Holder occurring after a date specified by the LLC Unit Holder. 

7.13. Independent Nature of LLC Unit Holders’ Rights and Obligations. The rights and obligations of each LLC Unit Holder hereunder
are independent of the rights and obligations of any other LLC Unit Holder hereunder. No LLC Unit Holder shall be responsible in any way for the performance of the obligations of any other LLC Unit Holder hereunder, nor shall any LLC Unit Holder
have the right to enforce the rights or obligations of any other LLC Unit Holder hereunder. The obligations of each LLC Unit Holder hereunder are solely for the benefit of, and shall be enforceable solely by, Corporate Taxpayer. The decision of each
LLC Unit Holder to enter into this Agreement has been made by such LLC Unit Holder independently of any other LLC Unit Holder. Nothing contained herein or in any other agreement or document delivered at any closing (other than the Limited Liability
Company Agreement and any joinder thereto), and no action taken by any LLC Unit Holder pursuant hereto or thereto, shall be deemed to constitute the LLC Unit Holders as a partnership, an association, a joint venture or any other kind of entity, or
create a presumption that the LLC Unit Holders are in any way acting in concert or as a group with respect to such rights or obligations or the transactions contemplated hereby, and Corporate Taxpayer acknowledges that the LLC Unit Holders are not
acting in concert or as a group and will not assert any such claim with respect to such rights or obligations or the transactions contemplated hereby. 

  
 22 

 7.14. LLC Agreement. This Agreement shall be treated as part of the partnership agreement
of Habit LLC as described in Section 761(c) of the Code and Sections 1.704-1(b)(2)(ii)(h) and 1.761-1(c) of the Treasury Regulations. 

  
 23 

 IN WITNESS WHEREOF, Corporate Taxpayer and each LLC Unit Holder have duly executed this Agreement as of the date
first written above. 
  

			
	The Habit Restaurants, Inc.
		
	By:		 /s/ Russell W. Bendel

	Name:		Russell W. Bendel
	Title:		Chief Executive Officer

 [Signature Page to Tax Receivable Agreement] 

 
			
	Habit Restaurant Holdings 45, Inc.
		
	By:		 /s/ Chris Reilly

	Name:		Chris Reilly
	Title:		President

 [Signature Page to Tax Receivable Agreement] 

 
			
	Habit Restaurant Holdings 25, Inc.
		
	By:		 /s/ Chris Reilly

	Name:		Chris Reilly
	Title:		President

 [Signature Page to Tax Receivable Agreement] 

 
			
	Habit Restaurant Holdings 15, Inc.
		
	By:		 /s/ Chris Reilly

	Name:		Chris Reilly
	Title:		President

 [Signature Page to Tax Receivable Agreement] 

 
			
	Habit Restaurant Holdings 10, Inc.
		
	By:		 /s/ Chris Reilly

	Name:		Chris Reilly
	Title:		President

 [Signature Page to Tax Receivable Agreement] 

 
			
	Habit Restaurant Holdings 5, Inc.
		
	By:		 /s/ Chris Reilly

	Name:		Chris Reilly
	Title:		President

 [Signature Page to Tax Receivable Agreement] 

							
	LLC Unit Holders:				LLC Unit Holders
				
					By:		  

					Name:		

 [Signature Page to Tax Receivable Agreement] 

 Exhibit A 

Joinder 
 This JOINDER
(this “Joinder”) to the Tax Receivable Agreement (as defined below), dated as of [                    ], by and among The Habit
Restaurants, Inc., a Delaware corporation (“Corporate Taxpayer”), and [                    ] (“Permitted
Transferee”). 
 WHEREAS, on
[                    ], the Permitted Transferee acquired (the “Acquisition”) from
[                    ] (“Transferor”) the right to receive any and all payments that may become due and payable to Transferor under
the Tax Receivable Agreement (as defined below) with respect to LLC Units that have been Exchanged or may in the future be Exchanged in The Habit Restaurants, LLC (the “Applicable Interests”); and 

WHEREAS, Transferor, in connection with the Acquisition, has required Permitted Transferee to execute and deliver this Joinder pursuant to
Section 7.5 of the Tax Receivable Agreement (Exchanges), dated as of [                    ], between Corporate Taxpayer and each LLC Unit Holder
(as defined therein) (the “Tax Receivable Agreement”); 
 NOW, THEREFORE, in consideration of the foregoing and the
respective covenants and agreements set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, Permitted Transferee hereby agrees as follows: 

Section 1.1. Definitions. To the extent capitalized words used in this Joinder are not defined in this Joinder, such words shall
have the respective meanings set forth in the Tax Receivable Agreement. 
 Section 1.2. Joinder. Permitted Transferee hereby
acknowledges and agrees to become an “LLC Unit Holder” (as defined in the Tax Receivable Agreement) for all purposes of the Tax Receivable Agreement with respect to the Applicable Interests. 

Section 1.3. Notice. Any notice, request, consent, claim, demand, approval, waiver or other communication hereunder to Permitted
Transferee shall be delivered or sent to Permitted Transferee at the address set forth on the signature page hereto in accordance with Section 7.1 of the Tax Receivable Agreement. 

Section 1.4. Governing Law. This Agreement and the rights and obligations of the parties hereunder shall be governed by, and
construed, interpreted and enforced in accordance with, the laws of the State of Delaware (without regard to any choice of law rules thereunder). 

IN WITNESS WHEREOF, this Joinder has been duly executed and delivered by Permitted Transferee as of the date first above written. 

 Annex A 

List of LLC Unit Holders 
  

	1.	KarpReilly Investments, LLC 

  

	2.	KarpReilly HB Co-Invest, LLC 

  

	3.	Habit Restaurant Holdings 45, Inc. 

  

	4.	Habit Restaurant Holdings 25, Inc. 

  

	5.	Habit Restaurant Holdings 15, Inc. 

  

	6.	Habit Restaurant Holdings 10, Inc. 

  

	7.	Habit Restaurant Holdings 5, Inc. 

  

	8.	J.P. Morgan US Direct Corporate Financial Institutional Investors III LLC 

  

	9.	522 5th Avenue Fund, L.P. 

  

	10.	Reichard Bros. Enterprises, Inc. 

  

	11.	Habit Founders, LLC 

  

	12.	Fresh Concepts, LLC 

  

	13.	Axiom Partners LLC 

  

	14.	Russell Bendel 

  

	15.	Ira Fils 

  

	16.	Anthony Serritella 

  

	17.	Certain EmployeesEX-10.15

 Exhibit 10.15 

REGISTRATION RIGHTS AGREEMENT 

by and among 
 The Habit
Restaurants, Inc., 
 Certain Stockholders of The Habit Restaurants, Inc. 

and 
 Certain other parties
hereto. 
 Dated as of November 25, 2014 

 TABLE OF CONTENTS 

 

							
	 ARTICLE I EFFECTIVENESS; DEFINITIONS.
		 	1	  
			
	 1.1
		   Effectiveness.
		 	1	  
			
	 1.2
		   Definitions.
		 	1	  
		
	 ARTICLE II REGISTRATION RIGHTS.
		 	1	  
			
	 2.1
		   Demand Registration Rights.
		 	1	  
			
	 2.2
		   Piggyback Registration Rights.
		 	2	  
			
	 2.3
		   Short-Form Registration.
		 	5	  
			
	 2.4
		   Exchange Registration.
		 	5	  
			
	 2.5
		   Secondary Offering.
		 	6	  
			
	 2.6
		   Indemnification and Contribution.
		 	6	  
			
	 2.7
		   Certain Other Provisions
		 	8	  
		
	 ARTICLE III REMEDIES.
		 	9	  
			
	 3.1
		   Generally.
		 	9	  
		
	 ARTICLE IV PERMITTED REGISTRATION RIGHTS ASSIGNEES.
		 	9	  
			
	 4.1
		   Permitted Registration Rights Assignees.
		 	9	  
		
	 ARTICLE V AMENDMENT, TERMINATION, ETC.
		 	9	  
			
	 5.1
		   Oral Modifications.
		 	9	  
			
	 5.2
		   Written Modifications.
		 	10	  
			
	 5.3
		   Effect of Termination.
		 	10	  
		
	 ARTICLE VI DEFINITIONS.
		 	10	  
			
	 6.1
		   Certain Matters of Construction.
		 	10	  
			
	 6.2
		   Definitions.
		 	10	  
		
	 ARTICLE VII MISCELLANEOUS.
		 	13	  
			
	 7.1
		   Authority: Effect.
		 	13	  
			
	 7.2
		   Notices.
		 	13	  
			
	 7.3
		   Merger: Binding Effect, Etc.
		 	14	  
			
	 7.4
		   Descriptive Headings.
		 	14	  
			
	 7.5
		   Counterparts.
		 	15	  
			
	 7.6
		   Severability.
		 	15	  
			
	 7.7
		   No Recourse.
		 	15	  
		
	 ARTICLE VIII GOVERNING LAW.
		 	15	  
			
	 8.1
		   Governing Law.
		 	15	  
			
	 8.2
		   Consent to Jurisdiction.
		 	15	  
			
	 8.3
		   WAIVER OF JURY TRIAL.
		 	16	  
			
	 8.4
		   Exercise of Rights and Remedies.
		 	16	  

  
 -i- 

 REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is made as of November 25, 2014 by and among The Habit
Restaurants, Inc., a Delaware corporation (the “Company”), KarpReilly Investments, LLC, a Delaware limited liability company (“KarpReilly”), and each Stockholder party hereto as listed on the signature pages to this
Agreement or becomes a party hereto pursuant to Section 4.1 (each, individually, a “Stockholder” and together, the “Stockholders”). 

RECITALS 
 1. The
Company is contemplating an underwritten Initial Public Offering of shares of its Class A Common Stock (as defined below) registered on Form S-1 under the Securities Act (the “IPO”). 

2. In connection with the IPO, the parties hereto have agreed to set forth their agreements regarding registration rights with respect to the
Common Stock and certain other matters following the IPO. 
 AGREEMENT 

Therefore, the parties hereto hereby agree as follows: 

ARTICLE I 

EFFECTIVENESS; DEFINITIONS. 

1.1 Effectiveness. This Agreement shall become effective upon consummation of the closing of the IPO (the “Closing”).

 1.2 Definitions. Certain terms are used in this Agreement as specifically defined herein. These definitions are set forth or
referred to in Section 6 hereof. 
 ARTICLE II 

REGISTRATION RIGHTS. 
 The
Company will perform and comply, and cause each of its subsidiaries to perform and comply, with such of the following provisions as are applicable to it. Each Holder will perform and comply with such of the following provisions as are applicable to
such Holder. 
 2.1 Demand Registration Rights. The KarpReilly Parties, at any time more than 180 days after the Initial Public
Offering may, by written notice to the Company, request that the Company effect the registration for a Public Offering of Registrable Shares having an anticipated net aggregate offering price of at least $10,000,000 ($25,000,000 in the case of an
underwritten offering) (for the avoidance of doubt, the KarpReilly Parties may deliver a demand for registration under this Section 2.1 whether or not the KarpReilly Parties own Registrable Shares at the time of such request). If the
KarpReilly Party initiating the registration intends to distribute the Registrable Shares in an underwritten offering, it will so advise the Company in their request. Promptly after receipt of notice requesting registration pursuant to this
Section 2.1, the Company will give written notice of such requested registration to all other holders of Registrable Shares. 

  
 -1- 

 
Subject to the limitations set forth in Sections 2.1.1, the Company will use its commercially reasonable efforts to effect the registration under the Securities Act of the Registrable
Shares that the Company has been requested to register by the KarpReilly Party requesting such registration and all other Registrable Shares that the Company has been requested to register by other holders of Registrable Shares by notice delivered
to the Company within 20 days after the giving of such notice by the Company. 
 2.1.1 Limitations. The Company will
not be required to effect more than five registrations at the request of a KarpReilly Party; provided, that, the KarpReilly Party shall be charged with a request only if a Registration Statement covering at least 25% of the applicable Registrable
Shares shall have been declared effective by the SEC and remained effective for not less than one hundred eighty (180) days. If from the time of any request to register Registrable Shares pursuant to this Section 2.1 to but not
including the date when such registration becomes effective, the Company is engaged or has firm plans to engage within 90 days of the time of such request in a registered public offering as to which the holders may include Registrable Shares
pursuant to Section 2.2, then the Company may, at its option, decline such request. 
 2.2 Piggyback Registration Rights.

 2.2.1 Piggyback Registration. Whenever the Company (for itself or for any other Stockholder) proposes to register
any of its equity securities under the Securities Act on a form of Registration Statement that would allow registration of Registrable Shares for sale to the public (except with respect to Registration Statements on Form S-4, Form S-8 or their
respective successor forms) the Company will, prior to such filing, give written notice to each Stockholder of the Company’s intention to so register. Upon the written request of any Stockholder given within 10 days after the Company provides
such notice, the Company shall use reasonable efforts to cause all of such parties’ requested Registrable Shares to be registered under the Securities Act; provided, however, that the Company shall have the right to postpone or withdraw
any registration proposed pursuant to this Section 2.2 without obligation to any Stockholder. 
 2.2.2
Selection of Underwriter. In the case of any offering under this Section 2.2 involving an underwriting, the Board shall have the right to designate the managing underwriter; provided, however, that such managing
underwriter shall be an investment bank of national reputation. 
 2.2.3 Allocation of Shares. In connection with any
offering under this Section 2.2 involving an underwriting, the Company shall not be required to include any Registrable Shares in such underwriting unless the holders thereof accept the terms of the underwriting as agreed upon between
the Company and the underwriters selected by it. Further, if the managing underwriter advises the Company that, in its view, the number of Registrable Shares requested to be included in such registration exceeds the Maximum Offering Size, the
Company will include in such registration, in the following priority, up to the Maximum Offering Size: first, so many shares of Common Stock proposed to be registered by the Company (for itself or for any other Stockholder pursuant to a Demand
Notice) as would not cause the offering to exceed the Maximum Offering Size; and 

  
 -2- 

 
second, any Registrable Shares requested to be included in such registration by the Stockholders, allocated, if necessary, pro rata on the basis of their relative number of Registrable Shares so
held. 
 2.2.4 Registration and Offering Procedures. In connection with the registration of Registrable Shares under
the Securities Act, the Company shall: 
 (a) Prepare and file with the Commission the Registration Statement and use its
commercially reasonable efforts to cause such Registration Statement to become effective. 
 (b) Following the effectiveness
of the Registration Statement, use its commercially reasonable efforts to prepare and file with the Commission any amendments and supplements to the Registration Statement and the prospectus included in the Registration Statement as may be necessary
to keep the Registration Statement continuously effective under the Securities Act until the Registrable Shares requested to be registered thereunder are sold; provided further that the Company shall promptly amend, renew or replace, as necessary,
any Registration Statement that shall have expired or otherwise been deemed unusable and shall use its commercially reasonable efforts to keep such amended, renewed or replaced Registration Statement continuously effective under the Securities Act
until the Registrable Shares requested to be registered thereunder are sold. 
 (c) Furnish to each selling Stockholder such
reasonable numbers of copies of the prospectus included in the Registration Statement, including a preliminary prospectus, in conformity with the requirements of the Securities Act, and such other documents as the selling Stockholder may reasonably
request in order to facilitate the public sale or other disposition of the Registrable Shares owned by such selling Stockholder; 

(d) Use commercially reasonable efforts to promptly remove restrictive legends from any Registrable Shares to be sold pursuant
to the Registration Statement. 
 (e) Use commercially reasonable efforts to register or qualify the Registrable Shares
covered by the Registration Statement under the securities or blue sky laws of such states as the selling Stockholder shall reasonably request, and do any and all other acts and things that may be necessary or desirable to enable the selling
Stockholder to consummate the public sale or other disposition within such states of the Registrable Shares owned by the selling Stockholder; provided, however, that the Company shall not be required in connection with this paragraph
(e) to qualify as a foreign corporation in any jurisdiction, execute a general consent to service of process in any jurisdiction, or subject itself to taxation in any jurisdiction; 

(f) Enter into customary agreements (including an underwriting agreement in customary form) and take such other actions as are
reasonably 

  
 -3- 

 
required in order to expedite or facilitate the sale of such Registrable Shares, including without limitation providing reasonable access for due diligence, including such information in the
prospectus as is reasonably requested by the managing underwriter and making management available to participate in a “roadshow” as reasonably requested by the managing underwriter; 

(g) To the extent practicable, provide legal opinions covering the matters customarily covered in opinions requested in
underwritten offerings and such other matters as may be reasonably requested by the holders of Registrable Shares and the underwriter, and an auditor’s “comfort letter” addressed to the selling Stockholder; 

(h) Following a Public Offering , provide adequate current public information necessary for compliance with Rule 144(c) of
the Securities Act; and 
 (i) Otherwise cooperate reasonably with, and take such customary actions as may reasonably be
requested by the holders of Registrable Shares in connection with such registration. 
 2.2.5 Amended Prospectus. If
the Company has delivered preliminary or final prospectuses to the selling Stockholders and after having done so the prospectus is amended to comply with the requirements of the Securities Act, the Company shall promptly notify the selling
Stockholders and, if requested, the selling Stockholders shall immediately cease making offers of Registrable Shares and return all prospectuses to the Company. The Company shall promptly provide the selling Stockholders with revised prospectuses
and, following receipt of the revised prospectuses and compliance with any related requirements of the Securities Act and any applicable state securities or blue sky laws, the selling Stockholders shall be free to resume making offers of the
Registrable Shares. Any period during which a prospectus is unusable pursuant to this Section 2.2 shall be added to the 180-day period in Section 2.2.4(b). 

2.2.6 Allocation of Expenses. The Company will pay all expenses in complying with this Article II, including all
registration and filing fees, exchange listing fees, printing, messenger and delivery expenses, applicable stock exchange fees, fees of accountants for the Company, fees and disbursements of counsel of the Company and the reasonable fees and
expenses of one counsel selected by the holder(s) of a majority of the Registrable Shares included in such registration, state securities or blue sky reasonable fees and expenses, the expense of any special audits incident to or required by any such
registration, any fees and disbursements customarily paid by the issuers of securities and expenses incurred in connection with any road show (including the reasonable out-of-pocket expenses of the selling Stockholders) but excluding underwriting
discounts, selling commissions or any other brokerage or underwriting fees and expenses and the fees and expenses of the selling Stockholders’ own counsel (other than the one counsel selected as provided above and, if an additional counsel to
certain selling Stockholders is used that is also counsel to the Company, such counsel). 

  
 -4- 

 2.3 Short-Form Registration.  

2.3.1 Request for Short-Form Registration. At any time following the one-year anniversary of the Closing, the KarpReilly
Parties shall have the right to make a written request to the Company to register, and the Company shall register in accordance with the terms of this Agreement, the sale of the number of Registrable Shares stated in such request under the
Securities Act on Form S-3 or any similar short-form registration (other than a Shelf Registration) (a “Short-Form Registration”); provided, however, that the Company shall not be obligated to effect such demand for a
Short-Form Registration (i) if the aggregate offering price of the Registrable Shares to be sold in such offering (including piggyback shares and before deduction of any underwriting discounts or commissions) is not reasonably expected to be at
least $25,000,000 or (ii) within 90 days after the effective date of a previous Short-Form Registration or other previous registration in which the Holders of Registrable Shares were given piggyback rights pursuant to Section 2.2.
Each request for a Short-Form Registration by the KarpReilly Parties shall state the amount of the Registrable Shares proposed to be sold and the intended method of disposition thereof. 

If on the date of the request for Short Form Registration: (i) the Company is a WKSI, then the Short Form Registration
request may request Registration of an unspecified amount of Registrable Securities; and (ii) the Company is not a WKSI, then the Short Form Registration request shall specify the aggregate amount of Registrable Securities to be registered. The
Company shall provide to the KarpReilly Parties the information necessary to determine the Company’s status as a WKSI upon request. 

2.4 Exchange Registration. 

2.4.1 Mandatory Exchange Registration. At such time as the Company first becomes eligible to file a Registration
Statement on Form S-3, the Company shall as promptly as practicable file with the SEC and use reasonable best efforts to cause to be promptly declared effective under the Securities Act a Registration Statement (“Exchange Registration
Statement”) for the Exchange of all of the shares of Class B Common Stock together with all of Common Units held by the Stockholders for shares of Class A Common Stock, subject to Section 3.9 of the LLC Agreement. Such
Registration pursuant to this Section 2.4, including as amended, renewed or replaced as provided herein, shall hereinafter be referred to as an “Exchange Registration.” Should the Company fail to file an Exchange
Registration Statement within 15 months of the closing date of the IPO, the Founding Member shall have the right to deliver a written notice to the Company to require the Company to file such Exchange Registration Statement. 

2.4.2 Continued Effectiveness; Renewal and Replacement. The Company shall use its reasonable best efforts to keep the
Exchange Registration Statement continuously effective under the Securities Act until the date as of which no Stockholder holds Class B Common Stock or Common Units. In addition, the Company shall promptly amend, renew or replace, as necessary, any
Exchange Registration Statement that shall have expired or otherwise been deemed unusable and shall use its reasonable best efforts to keep such amended, renewed or replaced Exchange Registration Statement continuously effective under the Securities
Act until the date as of which no Stockholder holds Class B Common Stock or Common Units. 

  
 -5- 

 2.4.3 Suspension of Registration. If the continued use of the Exchange
Registration Statement at any time would require the Company to make an Adverse Disclosure or if the Company is not then eligible to file an Exchange Registration Statement on Form S-3, the Company may, upon giving prompt written notice of such
action to the Managers, suspend use of the Exchange Registration Statement; provided, however, that the Company shall not be permitted to exercise such a suspension in the event of an Adverse Disclosure (i) more than one time during any twelve
(12)-month period, or (ii) for a period exceeding thirty (30) days on any one occasion. 
 2.5 Secondary Offering. If at
any time the SEC takes the position that the offering of some or all of the Registrable Securities in a Registration Statement are not eligible to be made as a secondary offering, the Company shall use commercially reasonable best efforts to
persuade the SEC that the offering contemplated by the Registration Statement is a bona fide secondary offering. In the event that the SEC refuses to alter its position, the Company shall (i) remove from the Registration Statement such portion
of the Registrable Securities (the “Cut Back Shares”) and/or (ii) agree to such restrictions and limitations on the registration and resale of the Registrable Securities as the SEC may require to assure that the Registration
Statement is deemed a secondary offering (collectively, the “SEC Restrictions”); provided, however, that the Company shall not agree to name any Holder as an “underwriter” in such Registration Statement without the prior
written consent of such Holder. Any cut-back imposed pursuant to this Section 2.5 shall be allocated among the Holders on a pro rata basis in accordance with the number of shares that such Holders have requested to be included in such
Registration Statement, unless the SEC Restrictions otherwise require or provide or the participating Holders otherwise agree. From and after the date that the Company is able to effect the registration of such Cut Back Shares in accordance with any
SEC Restrictions, all of the provisions of this Section 2.5 shall again be applicable to such Cut Back Shares.” 
 2.6
Indemnification and Contribution. 
 2.6.1 Indemnities by the Company. The Company will indemnify and hold
harmless each seller of Registrable Shares, each underwriter of Registrable Shares, and each other person, if any, who controls any such seller or underwriter within the meaning of the Securities Act or the Securities Exchange Act of 1934 against
any losses, claims, damages or liabilities, joint or several, to which such seller, underwriter or controlling person may become subject under the Securities Act, the Exchange Act, state securities or blue sky laws or otherwise, insofar as such
losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any Registration Statement including such Registrable Shares,
any preliminary prospectus or final prospectus contained in such Registration Statement, any amendment or supplement to such Registration Statement, or any other disclosure document, or arise out of or are based upon the omission or alleged omission
to state a material fact required to be stated therein or necessary to make the statements therein not misleading; and, the Company will reimburse each such seller, underwriter and each such controlling person for any legal or any other expenses
reasonably incurred by such seller, underwriter or controlling person in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such
case to the extent that any such 

  
 -6- 

 
loss, claim, damage or liability arises out of or is based upon (a) any untrue statement or omission made in such Registration Statement, preliminary prospectus or prospectus, or any such
amendment or supplement, in reliance upon and in conformity with information furnished to the Company, in writing, relating to such seller by or on behalf of such seller, underwriter or controlling person specifically for use in the preparation
thereof or (b) the failure of such seller to deliver copies of the prospectus in the manner required by the Securities Act. 

2.6.2 Indemnities to the Company. Each seller of Registrable Shares, severally (and not jointly or jointly and
severally), will indemnify and hold harmless the Company, each of its directors and officers and each underwriter, if any, and each person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the
Exchange Act, against any losses, claims, damages or liabilities, joint or several, to which the Company, such director, officer, underwriter or controlling person may become subject under the Securities Act, Exchange Act, state securities or blue
sky laws or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement
under which such Registrable Shares were registered under the Securities Act, any preliminary prospectus or final prospectus contained in the Registration Statement, or any amendment or supplement to the Registration Statement, or any other
disclosure document, or arise out of or are based upon any omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading, if the statement or omission was made in
reliance upon and in conformity with information furnished in writing to the Company relating to such seller by or on behalf of such seller, specifically for use in connection with the preparation of such Registration Statement, prospectus,
amendment, supplement or other disclosure document; provided, however, that the obligations of an Stockholder hereunder shall be limited to an amount equal to the net proceeds to the Stockholder arising from the sale of Registrable
Shares as contemplated herein. 
 2.6.3 Notice of Claims. Each party entitled to indemnification under this
Section 2.6.3 (the “Indemnified Party”) shall give notice to the party required to provide indemnification (the “Indemnifying Party”) within a reasonable period of time after such Indemnified Party has
actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom; provided, however, that counsel for the
Indemnifying Party, who shall conduct the defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval shall not be withheld unreasonably). The Indemnified Party may participate in such defense at such party’s
expense; provided, however, that the Indemnifying Party shall pay such expense if representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or potential differing
interests between the Indemnified Party and any other party represented by such counsel in such proceeding. No Indemnifying Party in the defense of any such claim or litigation shall, except with the prior written consent of each Indemnified Party,
consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the 

  
 -7- 

 
claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such claim or litigation, and no Indemnified Party shall consent to entry of any judgment or settle
such claim or litigation without the prior written consent of the Indemnifying Party (which consent shall not be unreasonably withheld). 

2.6.4 Contribution. If the indemnification provided for herein is for any reason unavailable to the Indemnified Parties
in respect of any losses, claims, damages or liabilities referred to herein, then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, will contribute to the amount paid or payable by such Indemnified Party as a result of such
losses, claims, damages or liabilities in such proportion as is appropriate to reflect the relative fault of the Company, the sellers of Registrable Shares and any underwriter in connection with the statements or omissions which resulted in such
losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company, the sellers of Registrable Shares and any underwriter will 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 such party, and the parties relative intent, knowledge, access to information and opportunity
to correct or prevent such statement or omission. The Company and sellers of Registrable Shares agree that it would not be just and equitable if contribution pursuant to this Section 2.6.4 were determined by pro rata allocation or by any
other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding sentence. The amount paid or payable by an Indemnified Party as a result of the losses, claims, damages or liabilities
referred to in the immediately preceding sentence will 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 such
action or claim. Notwithstanding the provisions of this Section 2.6.4, no seller of Registrable Shares will be required to contribute any amount in excess of the amount by which the total price at which the Registrable Shares of such
seller of Registrable Shares was offered to the public (less underwriters discounts and commissions) exceeds the amount of any damages which such seller of Registrable Shares 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 Securities Act) will be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. 
 2.7 Certain Other Provisions. 

2.7.1 Information by Holder. Each holder of Registrable Shares included in any registration shall furnish to the Company
such information regarding such holder and the distribution proposed by such holder as the Company may reasonably request in writing if it is required in connection with any registration, qualification or compliance referred to in this Article II.

  
 -8- 

 2.7.2 Lock-Up. Each Stockholder, if requested by the Board and an
underwriter of Common Stock or other securities of the Company, shall agree pursuant to a written agreement not to sell or otherwise transfer or dispose of any Registrable Shares or other securities of the Company held by such Stockholder for a
specified period of time (not longer than seven days) prior to the effective date of a Registration Statement and for a specified period of time (not longer than 180 days) following the effective date of a Registration Statement; provided,
however, that such agreement shall not apply to any Registrable Shares (or other securities of the Company) held by such In Stockholder if they are included in the Registration Statement. The Company may impose stop transfer instructions with
respect to the Registrable Shares or other securities subject to the foregoing restrictions, until the end of the lock-up period. The written agreement referred to in the first sentence of this Section 2.7.2 is in addition to and not in
replacement of other transfer restrictions contained in this Agreement. 
 ARTICLE III 

REMEDIES. 
 3.1
Generally. The parties shall have all remedies available at law, in equity or otherwise in the event of any breach or violation of this Agreement or any default hereunder. The parties acknowledge and agree that in the event of any breach of
this Agreement, in addition to any other remedies which may be available, each of the parties hereto shall be entitled to specific performance of the obligations of the other parties hereto and, in addition, to such other equitable remedies
(including preliminary or temporary relief) as may be appropriate in the circumstances. 
 ARTICLE IV 

PERMITTED REGISTRATION RIGHTS ASSIGNEES. 

4.1 Permitted Registration Rights Assignees. The rights of a Stockholder hereunder to cause the Company to register its Registrable
Securities pursuant to Section 2.1, Section 2.2, Section 2.3 or Section 2.4 may be assigned (but only with all related obligations as set forth below) in connection with a Transfer of such Shares
effected in accordance with the terms of this Agreement to a Permitted Registration Rights Assignee of such Holder. Without prejudice to any other or similar conditions imposed hereunder with respect to any such Transfer, no assignment permitted
under the terms of this Section 4.1 shall be effective unless the Permitted Registration Rights Assignee, if not a Stockholder, has delivered to the Company a written acknowledgment and agreement in form and substance reasonably
satisfactory to the Company that the Shares in respect of which such assignment is made shall continue to be deemed Shares and shall be subject to all of the provisions of this Agreement relating to Shares and that such Permitted Registration Rights
Assignee shall be bound by, and shall be a party to, this Agreement. A Permitted Registration Rights Assignee to whom rights are transferred pursuant to this Section 4.1 may not again Transfer such rights to any other Permitted
Registration Rights Assignee, other than as provided in this Section 4.1. 
 ARTICLE V 

AMENDMENT, TERMINATION, ETC. 

5.1 Oral Modifications. This Agreement may not be orally amended, modified, extended or terminated, nor shall any oral waiver of any of
its terms be effective. 

  
 -9- 

 5.2 Written Modifications. This Agreement may be amended, modified, extended or
terminated, and the provisions hereof may be waived, only by an agreement in writing signed by the Company and the Stockholders that hold a majority of the Shares held by all Stockholders: provided, however, that any amendment,
modification, extension, termination or waiver (an “Amendment”) shall also require the consent of any Stockholder who would be disproportionately and adversely affected thereby. Each such Amendment shall be binding upon each party
hereto and each holder of Shares subject hereto. In addition, each party hereto and each holder of Shares subject hereto may waive any right hereunder by an instrument in writing signed by such party or holder. 

5.3 Effect of Termination. No termination under this Agreement shall relieve any Person of liability for breach prior to termination.
In the event this Agreement is terminated, each party hereto shall retain the indemnification rights pursuant to Section 2.6 hereof with respect to any matter that (i) may be an indemnified liability thereunder and
(ii) occurred prior to such termination. 
 ARTICLE VI 

DEFINITIONS. 
 For purposes
of this Agreement: 
 6.1 Certain Matters of Construction. In addition to the definitions referred to or set forth below in this
Section 6: 
 (i) The words “hereof’, “herein”, “hereunder” and words of similar
import shall refer to this Agreement as a whole and not to any particular Section or provision of this Agreement, and reference to a particular Section of this Agreement shall include all subsections thereof; 

(ii) The word “including” shall mean including, without limitation; 

(iii) Definitions shall be equally applicable to both nouns and verbs and the singular and plural forms of the terms defined;
and 
 (iv) The masculine, feminine and neuter genders shall each include the other. 

6.2 Definitions. The following terms shall have the following meanings: 

“Adverse Disclosure” means public disclosure of material non-public information that, in the good faith judgment of the Board
of Directors of the Company, after consultation with outside counsel to the Company: (i) would be required to be made in any Registration Statement filed with the SEC by the Company so that such Registration Statement, from and after its
effective date, does 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 not misleading; (ii) would not be required to be made at such
time but for the filing, effectiveness or continued use of such Registration Statement; and (iii) the Company has a bona fide business purpose for not disclosing publicly. 

  
 -10- 

 “Affiliate” shall mean, with respect to any specified Person, any Person that
directly or through one or more intermediaries controls or is controlled by or is under common control with the specified Person (as used in this definition, the term “control” means the possession, directly or indirectly, of the power to
direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise). 

“Agreement” shall have the meaning set forth in the Preamble. 

“Amendment” shall have the meaning set forth in Section 5.2. 

“Board” shall mean the board of directors of the Company. 

“business day” shall mean any day that is not a Saturday, a Sunday or other day on which banks are required or authorized by
law to be closed in the City of New York. 
 “Closing” shall have the meaning set forth in Section 1. 

“Commission” shall mean the Securities and Exchange Commission. 

“Common Stock” shall mean the common stock of the Company, par value $0.01 per share. 

“Company” shall have the meaning set forth in the Preamble. 

“Convertible Securities” shall mean any evidence of indebtedness, shares of stock (other than Common Stock) or other
securities (other than Options and Warrants) which are directly or indirectly convertible into or exchangeable or exercisable for shares of Common Stock. 

“Cut Back Shares” shall have the meaning set forth in Section 2.5. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as in effect from time to time. 

“Exchange Registration Statement” shall have the meaning set forth in Section 2.4. 

“Exchange Registration” shall have the meaning set forth in Section 2.4. 

“Founding Member” shall mean Brent Reichard. 

“Holders” shall mean the holders of Registrable Securities under this Agreement. 

“Initial Public Offering” shall mean the initial Public Offering of the Company with an aggregate public offering price of at
least $25,000,000 and an initial Public Offering price equivalent to at least $4.00 per share of Common Stock. 
 “IPO”
shall have the meaning set forth in the Recitals. 

  
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 “KarpReilly Parties” shall mean KarpReilly, LLC and any of its Affiliates. 

“LLC Agreement” means the Fourth Amended and Restated Limited Liability Company Agreement of The Habit Restaurants, LLC,
dated as of November 25, 2014. 
 “Maximum Offering Size” shall mean the largest aggregate number of shares which can
be sold without having a material adverse effect on such offering, as determined by the managing underwriter. 
 “Members of the
Immediate Family” shall mean, with respect to any individual, (i) each spouse, or natural or adopted child or grandchild of such individual or natural or adopted child or grandchild of such individual’s spouse, (ii) each
trust created solely for the benefit of one or more of such individual and the Persons listed in clause (i) above, and solely for estate planning purposes, (iii) each custodian or guardian of any property of one or more of the Persons
listed in clause (i) above, in his capacity as such custodian or guardian and (iv) each corporation, limited partnership or limited liability company controlled by such individual or one or more of the Persons listed in clause
(i) above for the benefit of one or more of such Persons. 
 “Options” shall mean any options to subscribe for,
purchase or otherwise directly acquire Common Stock, other than any such option held by the Company or any right to purchase shares pursuant to this Agreement. 

“Permitted Registration Rights Assignee” shall mean a transfer: (a) with respect to each holder which is not a natural
person, to any Affiliate or to a Person for whom such holder (or an Affiliate of such holder) acts as investment advisor or investment manager; or (b) with respect to each holder who is a natural person: (i) to a Member of the immediate
family of such holder; (ii) to a charitable entity, immediate family member or any trust for the direct or indirect benefit of the holder; or (iii) and upon the death of a holder, pursuant to the will or other instrument of such holder or
by applicable laws of descent and distribution to such holder’s estate, executors, administrators and personal representatives, and then to such holder’s heirs, legatees or distributees, whether or not such recipients are Members of the
immediate family of such holder; provided, however no part of an Interest may be transferred to a minor or an incompetent except in trust or pursuant to the Uniform Gifts to Minors Act. 

“Person” shall mean any individual, partnership, corporation, company, association, trust, joint venture, limited liability
company, unincorporated organization, entity or division, or any government, governmental department or agency or political subdivision thereof. 

“Public Offering” shall mean a public offering and sale of Common Stock for cash pursuant to an effective registration
statement under the Securities Act. 
 “Recapitalization” means the recapitalization of the Company and The Habit
Restaurants, LLC in connection with the Company’s IPO, pursuant to the Recapitalization Agreement, dated November 19, 2014. 

“Registrable Shares” shall mean any shares of Class A Common Stock issued or issuable upon conversion or exchange of
common units of The Habit Restaurants, LLC (“Common Units”) in accordance with the LLC Agreement; provided, however, that shares of common stock 

  
 -12- 

 
which are Registrable Shares shall cease to be Registrable Shares (a) upon any sale pursuant to a Registration Statement, Section 4(1) of the Securities Act or Rule 144 under the
Securities Act or any successor rule under the Securities Act, or (b) at such time as such securities may be distributed without volume limitation or other restrictions on transfer under Rule 144 (including without application of paragraphs
(c), (e) (f) and (h) of Rule 144). 
 “Registration Statement” means a registration statement (on Form S-1
or Form S-3) filed by the Company with the Commission for a public offering and sale of securities of the Company. 
 “Rule
144” shall mean Rule 144 under the Securities Act (or any successor Rule). 
 “SEC” means the United States
Securities and Exchange Commission. 
 “SEC Restrictions” shall have the meaning set forth in Section 2.3.3.

 “Securities Act” shall mean the Securities Act of 1933, as amended, as in effect from time to time. 

“Shares” shall mean all shares of Common Stock held by a Stockholder, whenever issued, including all shares of Common Stock
issued upon the exercise, conversion or exchange of any Options, Warrants or Convertible Securities. 
 “Short-Form
Registration” shall have the meaning set forth in Section 2.3.1. 
 “Stockholders” shall have the
meaning set forth in the Preamble. 
 “Transfer” shall mean any sale, pledge, assignment, encumbrance or other transfer or
disposition of any Shares to any other Person, whether directly, indirectly, voluntarily, involuntarily, by operation of law, pursuant to judicial process or otherwise. 

“Warrants” shall mean any warrants to subscribe for, purchase or otherwise directly acquire Common Stock. 

“WKSI” means any Securities Act registrant that is a well-known seasoned issuer as defined in Rule 405 under the Securities
Act at the most recent eligibility determination date specified in paragraph (2) of that definition. 
 ARTICLE VII 

MISCELLANEOUS. 
 7.1
Authority: Effect. Each party hereto represents and warrants to and agrees with each other party that the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized on
behalf of such party and do not violate any agreement or other instrument applicable to such party or by which its assets are bound. This Agreement does not, and shall not be construed to, give rise to the creation of a partnership among any of the
parties hereto, or to constitute any of such parties members of a joint venture or other association. 

  
 -13- 

 7.2 Notices. Any notices, requests, demands, claims and other communications required or
permitted to be delivered, given or otherwise provided under this Agreement shall be in writing and shall be (a) delivered or given personally, (b) sent by facsimile or email, or (c) sent by overnight courier in each case, to the
address (or facsimile number) listed below: 
 If to the Company: 

The Habit Restaurants, LLC 

17320 Red Hill Avenue 
 Suite 140

 Irvine, California 92614 

Attention: Russell Bendel 

Facsimile: (949) 852-4650 

E-mail: RBendel@habitburger.com 

If to a KarpReilly Party: 
 Karp
Reilly, LLC 
 Attention: Chris Reilly 

Email: creilly@karpreilly.com 

Facsimile: (203) 504-9912 

with a copy to: 

Ropes & Gray LLP 
 1211
Avenue of the Americas 
 New York, New York 10007 

Attention: Carl Marcellino 

Email: carl.marcellino@ropesgray.com 

Facsimile: 646.728.1523 
 Notice
to the holder of record of any shares of capital stock shall be deemed to be notice to the holder of such shares for all purposes hereof. 

Unless otherwise specified herein, such notices or other communications shall be deemed effective (a) on the date received, if personally
delivered, (b) on the date received if delivered by facsimile or email on a business day, or if delivered on other than a business day, on the first business day thereafter and (c) 2 business days after being sent by overnight courier.
Each of the parties hereto shall be entitled to specify a different address by giving notice as aforesaid to each of the other parties hereto. 

7.3 Merger: Binding Effect, Etc. This Agreement, together with the Stockholders Agreement and LLC Agreement, constitute the entire
agreement of the parties with respect to their subject matter, supersede all prior or contemporaneous oral or written agreements or discussions with respect to such subject matter, and shall be binding upon and inure to the benefit of the parties
hereto and thereto and their respective heirs, representatives, successors and permitted assigns. Except as otherwise expressly provided herein, no Stockholder or other party 

  
 -14- 

 
hereto may assign any of its respective rights or delegate any of its respective obligations under this Agreement without the prior written consent of the other parties hereto, and any attempted
assignment or delegation in violation of the foregoing shall be null and void. 
 7.4 Descriptive Headings. The descriptive headings
of this Agreement are for convenience of reference only, are not to be considered a part hereof and shall not be construed to define or limit any of the terms or provisions hereof. 

7.5 Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which
taken together shall constitute one instrument. 
 7.6 Severability. In the event that any provision hereof would, under applicable
law, be invalid or unenforceable in any respect, such provision shall be construed by modifying or limiting it so as to be valid and enforceable to the maximum extent compatible with, and possible under, applicable law. The provisions hereof are
severable, and in the event any provision hereof should be held invalid or unenforceable in any respect, it shall not invalidate, render unenforceable or otherwise affect any other provision hereof. 

7.7 No Recourse. Notwithstanding anything that may be expressed or implied in this Agreement, the Company and each Stockholder
covenant, agree and acknowledge that no recourse under this Agreement or any documents or instruments delivered in connection with this Agreement shall be had against any current or future director, officer, employee, general or limited partner,
member or stockholder of any Stockholder or of any Affiliate or assignee thereof, as such, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable law, it
being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any current or future director, officer, employee, partner, member or stockholder of any Stockholder or of any
Affiliate or assignee thereof, as such, for any obligation of any Stockholder under this Agreement or any documents or instruments delivered in connection with this Agreement for any claim based on, in respect of or by reason of such obligations or
their creation. 
 ARTICLE VIII 

GOVERNING LAW. 
 8.1
Governing Law. This Agreement shall be governed by and construed in accordance with the domestic substantive laws of the State of Delaware without giving effect to any choice or conflict of laws provision or rule that would cause the
application of the domestic substantive laws of any other jurisdiction. 
 8.2 Consent to Jurisdiction. Each party to this Agreement,
by its execution hereof, (a) hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the State of Delaware for the purpose of any action, claim, cause of action or suit (in contract, tort or
otherwise), inquiry, proceeding or investigation arising out of or based upon this Agreement or relating to the subject matter hereof, (b) hereby waives to the extent not prohibited by applicable law, and agrees not to assert, and agrees not to
allow any of its subsidiaries to 

  
 -15- 

 
assert, by way of motion, as a defense or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or
immune from attachment or execution, that any such proceeding brought in one of the above-named courts is improper, or that this Agreement or the subject matter hereof or thereof may not be enforced in or by such court and (c) hereby agrees not
to commence or maintain any action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or based upon this Agreement or relating to the subject matter hereof or thereof other than
before one of the above-named courts nor to make any motion or take any other action seeking or intending to cause the transfer or removal of any such action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or
investigation to any court other than one of the above-named courts, whether on the grounds of inconvenient forum or otherwise. Notwithstanding the foregoing, to the extent that any party hereto is or becomes a party in any litigation in connection
with which it may assert indemnification rights set forth in this Agreement, the court in which such litigation is being heard shall be deemed to be included in clause (a) above. Each party hereto hereby consents to service of process in any
such proceeding in any manner permitted by Delaware law, and agrees that service of process by registered or certified mail, return receipt requested, at its address specified pursuant to Section 7.4 hereof is reasonably calculated to
give actual notice. The provisions of this Section 8.2 shall not restrict the ability of any party to enforce in any court any judgment obtained in a federal or state court of the State of Delaware. 

8.3 WAIVER OF JURY TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH PARTY HERETO HEREBY WAIVES AND
COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE OR ACTION, CLAIM, CAUSE OF ACTION OR SUIT (IN CONTRACT, TORT OR OTHERWISE), INQUIRY, PROCEEDING OR
INVESTIGATION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE SUBJECT MATTER HEREOF OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE TRANSACTIONS CONTEMPLATED HEREBY, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING. EACH PARTY
HERETO ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY THE OTHER PARTIES HERETO THAT THIS SECTION 8.3 CONSTITUTES A MATERIAL INDUCEMENT UPON WHICH THEY ARE RELYING AND WILL RELY IN ENTERING INTO THIS AGREEMENT. ANY PARTY HERETO MAY FILE AN
ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 8.3 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. 

8.4 Exercise of Rights and Remedies. No delay of or omission in the exercise of any right, power or remedy accruing to any party as a
result of any breach or default by any other party under this Agreement shall impair any such right, power or remedy, nor shall it be construed as a waiver of or acquiescence in any such breach or default, or of any similar breach or default
occurring later; nor shall any such delay, omission nor waiver of any single breach or default be deemed a waiver of any other breach or default occurring before or after that waiver. 

[Remainder of page intentionally left blank.] 

  
 -16- 

 IN WITNESS WHEREOF, each of the undersigned has duly executed this Agreement (or caused
this Agreement to be executed on its behalf by its officer or representative thereunto duly authorized) as of the date and year first above written. 
  

							
	COMPANY:				THE HABIT RESTAURANTS, INC.
				
					By:		 /s/ Russ Bendel

					Name:		Russ Bendel
					Title:		Chief Executive Officer

 Signature Page to Registration Rights Agreement 

 INVESTORS: 
  

			
	KarpReilly Investments, LLC
		
	By:		 /s/ Chris Reilly

	Name:		Chris Reilly
	Title:		Managing Member

 Signature Page to Registration Rights Agreement 

  

			
	INVESTORS
		
	By:		  

	Name:		
	Title:		

 Signature Page to Registration Rights Agreement

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