FORM OF EL POLLO LOCO HOLDINGS, INC. EQUITY INCENTIVE PLAN PERFORMANCE STOCK UNIT AWARD AGREEMENT ​ (FOR OFFICERS)

1.Grant of Performance Stock Units. As approved by the Compensation Committee of the Board on the Date of Grant, the Company grants to the Employee ______ Performance Stock Units at target, or such lesser or greater number of PSUs as may be earned upon the attainment of applicable performance objectives set forth in Schedule I hereto (the “PSUs”), subject to all of the terms and conditions of this Award Agreement and the Plan. Each PSU constitutes an unfunded and unsecured promise of the Company to deliver (or cause to be delivered) to the Employee, subject to the terms and conditions of this Award Agreement, one (1) share of Common Stock of the Company (“Shares”) upon becoming earned and vested in accordance with Section 2 and settlement in accordance with Section 3. The Company shall hold the PSUs in book-entry form. The Employee shall have no direct or secured claim in any specific assets of the Company or the Shares that may become issuable to the Employee hereunder, and shall have the status of a general unsecured creditor of the Company.

2.Vesting and Settlement.

(a)Generally. The period during which the PSUs awarded hereunder may become earned shall commence on ______ and end on the last day of the Company’s ____ fiscal year (the “Performance Period”). Except as otherwise provided in this Section 2, the PSUs shall be wholly or partially earned to the extent of the attainment of the performance objectives set forth in Schedule I for the Performance Period and provided that the Employee has been continuously employed by the Company from the Date of Grant through the last day of the Performance Period, and the Employee shall forfeit any and all PSUs not becoming so earned.

(b)Vesting. PSUs that have been earned in accordance with Section 2(a) shall vest in three (3) equal installments as follows: one-third of the earned PSUs will vest when performance for the Performance Period has been determined and certified by the Administrator, one-third will vest on the last day of fiscal year ____, and the final one-third will vest on the last day of fiscal year ______(each, a “Vesting Date”), subject in all cases to the continued employment of the Employee with the Company from the date hereof through the applicable Vesting Date, and provided that the Employee has not given notice of resignation as

(c)Termination of Service.

iUpon termination of the Employee’s service with the Company and its Affiliates for any reason (including the death or Disability of the Employee), other than as set forth in Section 2(c)(ii), any PSUs that have not then been earned and vested as described in this Section 2 shall be immediately canceled and forfeited and neither the Employee nor any of the Employee’s successors, heirs, assigns, or personal representatives shall thereafter have any further rights or interests in such PSUs.

iiIf the Employee’s employment with the Company and its Affiliates is terminated by the Company and its Affiliates without Cause or by the Employee for Good Reason (as defined in the Post-Termination Benefits letter agreement by and between the Company and the Employee dated as of _____, 20__ (the “Letter Agreement”)), within 12 months after a Change in Control (as defined in the Letter Agreement), then all unearned PSUs shall become earned, with performance having been deemed attained at actual level of performance, and all unvested PSUs shall become vested, subject to the Employee’s execution and non-revocation of a general release of claims as of the termination date.

5.Certain Changes. The Administrator may accelerate the date on which the earned PSUs may be settled; provided that, subject to Section 5 of the Plan, no action under this section shall adversely effect the Employee’s rights hereunder.

(a)The PSUs, whether earned or unearned, may not be sold, assigned, pledged or otherwise transferred or encumbered by the Employee, and no purported sale, assignment, mortgage, hypothecation, transfer, charge, pledge, encumbrance, gift, transfer in trust (voting or other) or other disposition of, or creation of a security interest in or lien on, any of the PSUs or any agreement or commitment to do any of the foregoing (each a “Transfer”) by any holder thereof in violation of the provisions of this Award Agreement will be valid, except with the prior written consent of the Administrator (such consent shall be granted or withheld in the sole discretion of the Administrator).

(b)Any purported Transfer of PSUs or any economic benefit or interest therein in violation of this Award Agreement shall be null and void ab initio and shall not create any obligation or liability of the Company, and any person purportedly acquiring any PSUs or any economic benefit or interest therein transferred in violation of this Award Agreement shall not be entitled to be recognized as a holder of such PSUs.

11.Section 409A. The intent of the parties is that payments and benefits under this Award Agreement comply with Section 409A of Code to the extent subject thereto, and, accordingly, to the maximum extent permitted, this Award Agreement shall be interpreted and be administered to be in compliance therewith. Notwithstanding anything contained herein to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, the Employee shall not be considered to have separated from service

or otherwise terminated employment with the Company for purposes of this Award Agreement, and no payment shall be due to the Employee under this Award Agreement on account of a separation from service or termination of employment, until the Employee would be considered to have incurred a "separation from service" with the Company within the meaning of Section 409A of the Code. Any payments described in this Award Agreement that are due within the "short-term deferral period" as defined in Section 409A of the Code shall not be treated as deferred compensation unless applicable law requires otherwise. Notwithstanding anything to the contrary in this Award Agreement, to the extent that any PSUs are payable upon the Employee’s separation from service and such payment would result in the imposition of any individual income tax and late interest charges imposed under Section 409A of the Code based on the Employee’s status as a “specified employee” within the meaning of Section 409A of the Code, the settlement and payment of such awards shall instead be made on the first business day after the date that is six (6) months following the Employee’s separation from service (or death, if earlier). The Company makes no representation that any or all of the payments described in this Award Agreement will be exempt from or comply with Section 409A of the Code and makes no undertaking to preclude Section 409A of the Code from applying to any such payment. The Employee shall be solely responsible for the payment of any taxes and penalties incurred under Section 409A.

17.Waiver.  The Employee acknowledges that a waiver by the Company of a

breach of any provision of this Award Agreement shall not operate or be construed as a waiver of any other provision of this Award Agreement, or of any subsequent breach by the Employee.

20.Clawback. The PSUs and any Shares issued upon settlement of the PSUs are subject to such recoupment policies of the Company as may be in effect from time to time pursuant to Section 28 the Plan.