<SEC-DOCUMENT>0001104659-21-078776.txt : 20210609
<SEC-HEADER>0001104659-21-078776.hdr.sgml : 20210609
<ACCEPTANCE-DATETIME>20210609161543
ACCESSION NUMBER:		0001104659-21-078776
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		16
CONFORMED PERIOD OF REPORT:	20210609
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210609
DATE AS OF CHANGE:		20210609

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Shake Shack Inc.
		CENTRAL INDEX KEY:			0001620533
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING & DRINKING PLACES [5810]
		IRS NUMBER:				471941186
		FISCAL YEAR END:			1229

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36823
		FILM NUMBER:		211005298

	BUSINESS ADDRESS:	
		STREET 1:		225 VARICK STREET
		STREET 2:		SUITE 301
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014
		BUSINESS PHONE:		(646) 747-7200

	MAIL ADDRESS:	
		STREET 1:		225 VARICK STREET
		STREET 2:		SUITE 301
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014
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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; text-indent: -13.5pt"></p>

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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center; text-indent: -13.5pt"><span style="font-family: Arial, Helvetica, Sans-Serif"><b>UNITED
                                         STATES</b></span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><b>SECURITIES
AND EXCHANGE COMMISSION</b></span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><b>Washington,
D.C. 20549</b></span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><b>&#160;</b></span></p>

<p style="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><b>FORM
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<p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif">&#160;</span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><b>CURRENT
REPORT</b></span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif"><b>Pursuant
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<p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&#160;</p>

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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif">Date
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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></p>



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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif">(Exact
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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></p>



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<p style="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif">&#160;</span></p>

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<p style="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif">&#160;</span></p>

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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif">(Registrant's
telephone number, including area code)</span></p>

<p style="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif">&#160;</span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><b>Not applicable</b></p>



<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif">(Former
name or former address, if changed since last report)</span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"></p>



<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></p>

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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif">Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:</span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif">&#160;</span></p>

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<p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif"></span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif">Securities
registered pursuant to Section 12(b) of the Act:</span></p>

<p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; font-family: Arial, Helvetica, Sans-Serif">
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</td>
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</td>
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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif">&#160;</span></p>


<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif">Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR
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<p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif">&#160;</span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif">Emerging
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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif">&#160;</span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif">If an
emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <span style="font-family: Wingdings">&#168;</span></span></p>

<p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif">&#160;</span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif">Securities registered pursuant to Section 12(b) of the Act&#160;</span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font: 7pt Arial, Helvetica, Sans-Serif">&#160;</span></p>

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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif"></span></p>

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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

<p style="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-size: 10pt"><b>Item 5.02 Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</b></span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><b><span style="text-decoration: underline">Appointment of Chief Financial Officer</span></b></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">On June 9, 2021, the Board of Directors (the &#8220;<span style="text-decoration: underline">Board</span>&#8221;)
of Shake Shack Inc. (&#8220;<span style="text-decoration: underline">Shake Shack</span>&#8221;) appointed Katherine Fogertey to serve as its Chief Financial Officer, effective
as of June 14, 2021 (the &#8220;<span style="text-decoration: underline">Effective Date</span>&#8221;).</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">From April 2019 through December 2020, Ms. Fogertey, 37, served as Vice
President, Lead Equity Analyst, US Restaurants at Goldman Sachs &amp; Co. and from November 2010 to April 2019, as Vice President, Lead
Analyst, Global Single Stock Derivatives and ETFs. Prior to that, Ms. Fogertey served as an Associate, Fundamental Analyst, Derivatives
Proprietary Trading, and earlier as Financial Equity Analyst, Communications Equipment Technology. Ms. Fogertey graduated from Washington
University in St. Louis, Olin School of Business in 2004.</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-size: 10pt">In connection with her appointment, Ms.
Fogertey entered into an Employment Agreement (the &#8220;<span style="text-decoration: underline">Employment Agreement</span>&#8221;) with Shake Shack, SSE Holdings, LLC,
and Shake Shack Enterprises, LLC (collectively, the &#8220;<span style="text-decoration: underline">Company</span>&#8221;). </span>The term of Ms. Fogertey&#8217;s employment
will be three years from the Effective Date, subject to automatic one-year extensions; provided, that neither party provides written notice
of non-extension within 90 days of the expiration of the then-current term.</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-size: 10pt">Ms. Fogerty will receive an initial
annual base salary of $450,000. Ms. Fogertey will be eligible to receive a performance-based cash bonus based on a target bonus
opportunity of 50% of base salary, upon the attainment of Company performance goals established each year by the Board or the
compensation committee, with the opportunity to make up to 100% of base salary, upon the Company exceeding such performance goals.
For fiscal 2021, Ms. Fogertey&#8217;s cash bonus will be awarded on a pro rata basis based on the Effective Date, and such bonus
shall be measured quarterly. Ms. Fogertey also will be eligible for annual equity awards, the form and terms of which will be
determined by the Board or the compensation committee, currently with a minimum target value of</span> $500,000. Such awards shall
vest, provided that Ms. Fogertey continues her employment through the applicable vesting dates, in four equal installments,
beginning on the first anniversary of the grant date. For fiscal 2021, however, Ms. Fogertey&#8217;s equity award will be comprised
of restricted stock units for such number of shares of the Company&#8217;s Class A common stock based on an
aggregate grant date fair value of $2,000,000, as calculated on or as close in time as practicable to the grant date. The fiscal
2021 award shall vest, provided that Ms. Fogertey continues her employment through the applicable vesting dates, in five equal
installments beginning on the first anniversary of the grant date.</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">The Employment Agreement provides for severance upon a termination
by the Company without cause or by Ms. Fogertey for good reason, in each case, subject to her execution and non-revocation of a
waiver and release of claims. In either such event, Ms. Fogertey will be entitled to severance consisting of (a)&#160;continued base
salary during the severance period, with three months of base salary if Ms. Fogertey has completed six months of service, six months
of base salary if Ms. Fogertey has completed one year of service, and thereafter, one additional month of base salary for every
twelve months of service, up to one year of severance, (b)&#160;a prorated annual performance-based cash bonus for the year of
termination based on Company performance, and (c)&#160;reimbursement of a portion of any COBRA premiums for a period of up to 12
months equal to the amount the Company pays for the health insurance premiums of other senior level employees.</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Ms. Fogertey will be subject to certain non-competition and non-solicitation
restrictions for a 12-month period after termination of employment, during which time she may not compete, directly or indirectly, with
the Company in the business of engaging in, owning, managing, operating, advising, providing financing to, controlling or participating
in the ownership, management or control of, or be connected as an officer or employee or otherwise or have any financial interest in any
(i) &#8220;better burger&#8221; restaurants, (ii) &#8220;quick service&#8221; or &#8220;fast food&#8221; restaurants with an emphasis
on hamburgers, or (iii) &#8220;fast casual&#8221; restaurants that complete with the Company or any of the Company&#8217;s licensed or
franchise partners in any jurisdiction in the United States or any other country where the Company is engaged.</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">There is no arrangement or understanding between Ms. Fogertey and any
other persons or entities pursuant to which Ms. Fogertey was appointed to serve as Chief Financial Officer. Nor are there any related
party transactions between the Company and Ms. Fogertey that would require disclosure under Item 404(a) of Regulation S-K.</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in"></p>

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    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-size: 10pt">A copy of the employment agreement with
Ms. Fogertey is filed as Exhibit 10.1 to this current report on Form 8-K. The above summary of the Employment Agreement is qualified in
its entirety by reference to the Employment Agreement. </span>In addition, Ms. Fogertey will execute the Company&#8217;s form of indemnification
agreement, a copy of which has been filed as Exhibit 10.21 to the Company&#8217;s Registration Statement on Form S-1 filed with the U.S.
Securities and Exchange Commission on January 20, 2015.</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">On June 9, 2021, the Company issued a press release announcing the appointment
of Ms. Fogertey as Chief Financial Officer. The full text of the press release is attached as Exhibit 99.1 to this Current Report on Form
8-K and is incorporated by reference herein.</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

<p style="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-size: 10pt"><b>Item 9.01 Financial Statements and
Exhibits. </b></span></p>

<p style="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"> (d) <span style="text-decoration: underline">Exhibits</span></p>



<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1pt solid; text-align: center; width: 8%"><b>Exhibit</b> <b><br />
Number</b></td>
<td style="width: 2%">&#160;</td>
<td style="border-bottom: Black 1pt solid; width: 90%"><span style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Exhibit Description</b></span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: center"><a href="tm2119244d1_ex10-1.htm"><span style="font: 10pt Arial, Helvetica, Sans-Serif">10.1</span></a></td>
<td>&#160;</td>
<td><a href="tm2119244d1_ex10-1.htm"><span style="font: 10pt Arial, Helvetica, Sans-Serif">Employment Agreement, effective as of
 June 14, 2021, by and among Katherine Fogertey, Shake Shack Inc., SSE Holdings, LLC and Shake Shack Enterprises, LLC</span></a></td></tr>
<tr style="vertical-align: top">
<td style="text-align: center"><a href="tm2119244d1_ex99-1.htm"><span style="font: 10pt Arial, Helvetica, Sans-Serif">99.1</span></a></td>
<td>&#160;</td>
<td><a href="tm2119244d1_ex99-1.htm"><span style="font: 10pt Arial, Helvetica, Sans-Serif">Shake Shack Inc. press release dated June 9, 2021</span></a></td></tr>
<tr style="vertical-align: top">
<td style="text-align: center">104</td>
<td>&#160;</td>
<td>Cover Page Interactive Data File</td></tr>
</table>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></p>

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    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

<p style="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-size: 10pt"><b>SIGNATURES</b></span></p>

<p style="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt">&#160;</span></td>
<td colspan="2"><span style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Shake Shack Inc.</b></span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt">&#160;</span></td>
<td colspan="2"><span style="font: 10pt Arial, Helvetica, Sans-Serif">(Registrant)</span></td></tr>
<tr style="vertical-align: bottom">
<td style="width: 57%"><span style="font-size: 10pt">&#160;</span></td>
<td style="width: 3%"><span style="font-size: 10pt">&#160;</span></td>
<td style="width: 40%"><span style="font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt">&#160;</span></td>
<td><span style="font: 10pt Arial, Helvetica, Sans-Serif">By:</span></td>
<td style="border-bottom: Black 1pt solid"><span style="font: 10pt Arial, Helvetica, Sans-Serif">/s/ Ronald Palmese
Jr.</span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt">&#160;</span></td>
<td><span style="font-size: 10pt">&#160;</span></td>
<td><span style="font: 10pt Arial, Helvetica, Sans-Serif">Ronald Palmese
Jr.</span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font: 10pt Arial, Helvetica, Sans-Serif">Date: June
9, 2021</span></td>
<td><span style="font-size: 10pt">&#160;</span></td>
<td><span style="font-size: 10pt">Senior Vice President and General Counsel</span></td></tr>
</table>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></p>

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    <!-- Field: /Page -->

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

<p style="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-size: 10pt"><b>EXHIBIT INDEX</b></span></p>

<p style="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><span style="font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1pt solid; text-align: center; width: 8%"><b>Exhibit<br />
</b> <b>Number</b></td>
<td style="width: 2%">&#160;</td>
<td style="border-bottom: Black 1pt solid; width: 90%"><span style="font: 10pt Arial, Helvetica, Sans-Serif"><b>Exhibit Description</b></span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: center"><a href="tm2119244d1_ex10-1.htm"><span style="font: 10pt Arial, Helvetica, Sans-Serif">10.1 </span></a></td>
<td>&#160;</td>
<td><a href="tm2119244d1_ex10-1.htm"><span style="font: 10pt Arial, Helvetica, Sans-Serif">Employment Agreement, effective as of
 June 14, 2021, by and among Katherine Fogertey, Shake Shack Inc., SSE Holdings, LLC and Shake Shack Enterprises,
LLC</span></a></td></tr>
<tr style="vertical-align: top">
<td style="text-align: center"><a href="tm2119244d1_ex99-1.htm"><span style="font: 10pt Arial, Helvetica, Sans-Serif">99.1</span></a></td>
<td>&#160;</td>
<td><a href="tm2119244d1_ex99-1.htm"><span style="font: 10pt Arial, Helvetica, Sans-Serif">Shake Shack press release dated June 9, 2021</span></a></td></tr>
<tr style="vertical-align: top">
<td style="text-align: center">104</td>
<td>&#160;</td>
<td>Cover Page Interactive Data File</td></tr>
</table>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></p>

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<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&#160;</p>

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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm2119244d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Employment
Agreement</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
Employment Agreement (the &ldquo;<U>Agreement</U>&rdquo;), effective as of June&nbsp;14, 2021 (the &ldquo;<U>Effective Date</U>&rdquo;),
is by and between Katherine Fogertey (the &ldquo;<U>Employee</U></FONT>&rdquo;) and each of Shake Shack Inc, a corporation organized under
the laws of the State of Delaware (&ldquo;<U>Pubco</U>&rdquo;), SSE Holdings, LLC, a limited liability company organized under the laws
of the State of Delaware (&ldquo;<U>Partnership</U>&rdquo;), and Shake Shack Enterprises, LLC, a limited liability company organized under
the laws of the State of New York (&ldquo;<U>Enterprises</U>&rdquo; and, together with Pubco and Partnership, collectively, the &ldquo;<U>Company</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RECITALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">WHEREAS,
</FONT>the Employee has been appointed Chief Financial Officer as of the Effective Date; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, in connection with
such appointment, the parties desire to enter into this Agreement to reflect the terms of the Employee&rsquo;s employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in consideration
of the foregoing, and for other good and valuable consideration, including the respective covenants and agreements set forth below, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree, effective as of the Effective Date, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Definitions</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Affiliate</U>&rdquo;
shall mean, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with,
such Person where &ldquo;control&rdquo; shall have the meaning given such term under Rule&nbsp;405 of the Securities Act of 1933, as amended
from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Agreement</U>&rdquo;
shall have the meaning set forth in the preamble hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Base
Salary</U>&rdquo; shall have the meaning set forth in <U>Section&nbsp;3(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Board</U>&rdquo;
shall mean the Board of Directors of Pubco.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Bonus</U>&rdquo;
shall have the meaning set forth in <U>Section&nbsp;3(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Business</U>&rdquo; shall mean the business of developing, managing, and/or operating of (i)&nbsp;&ldquo;better burger&rdquo; restaurants, (ii)&nbsp;&ldquo;quick
service&rdquo; or &ldquo;fast food&rdquo; restaurants with an emphasis on hamburgers, and (iii)&nbsp;fast casual restaurants (i.e., restaurants
that do not offer table service but promise a higher quality of food with fewer frozen or processed ingredients than a fast food restaurant;
e.g., Chipotle Mexican Grill, Culvers and Panera).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Company shall have &ldquo;<U>Cause</U>&rdquo; to terminate the Employee&rsquo;s employment hereunder upon: (i)&nbsp;the willful misconduct,
gross negligence or an act of dishonesty of the Employee with regard to the Company or any of its Affiliates, which in either case, results
in or could reasonably be expected to result in material harm to the Company or such Affiliate; (ii)&nbsp;the willful and continued failure
of the Employee to attempt to perform her duties with the Company or any of its Affiliates (other than any such failure resulting from
Disability), which failure is not remedied within 30 days after receiving written notice thereof; (iii)&nbsp;the conviction of the Employee
of (or the plea by the Employee of guilty or <I>nolo contendere </I>to) any felony involving moral turpitude (other than traffic related
offenses or as a result of vicarious liability); or (iv)&nbsp;a material breach by the Employee of any material provision of this Agreement,
which breach is not remedied within 10 days after receiving written notice thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Code</U>&rdquo;
shall mean the Internal Revenue Code of 1986, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Company</U>&rdquo;
shall have the meaning set forth in the preamble hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Confidential Information</U>&rdquo; shall mean confidential, proprietary, and personal information about the Company, its partners and owners, and
its customers and patrons. Such confidential, proprietary, and personal information includes but is not limited to information concerning
the personal and financial affairs of the Company&rsquo;s partners and owners as well as the Company&rsquo;s business, financial condition,
operations, assets and liabilities, research and development, marketing and public relations strategies, formulas, programs, systems of
operations, recipes, ingredient lists, identification of suppliers and resources for goods and services, information regarding the needs,
preferences, electronic mail addresses, names and telephone numbers of Company customers and guests, customer and guest lists, employee
information, training manuals and videos, written procedures integral to the Company&rsquo;s day-to-day operations, trade secrets, sales,
products, services, accounts, purchasers of Company products, marketing, packaging, merchandising, distribution, manufacturing, finance,
financial data, technology, intellectual property, including patents, design patents, trademarks, trade dress, copyrights, strategies,
business structures, operations or ventures or other business affairs or plans, or information relating to existing or contemplated businesses,
products and/or services of the Company, and any other information which the Company does not disclose to third parties not in a relationship
of confidence with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Date of Termination</U>&rdquo; shall mean (i)&nbsp;if the Employee&rsquo;s employment is terminated due to the Employee&rsquo;s death, the
date of the Employee&rsquo;s death; (ii)&nbsp;if the Employee&rsquo;s employment is terminated due to the Employee&rsquo;s Disability,
the date determined pursuant to <U>Section&nbsp;4(a)(ii)</U>; or (iii)&nbsp;if the Employee&rsquo;s employment is terminated pursuant
to <U>Section&nbsp;4(a)(iii)-(vi)</U>, either the date indicated in the Notice of Termination or the date specified by the Company pursuant
to <U>Section&nbsp;4(b)</U>, whichever is earlier.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Disability</U>&rdquo; shall mean the Employee&rsquo;s inability to engage in any substantial gainful activity by reason of any medically determinable physical
or mental impairment that can be expected to result in death or that can be expected to last for a continuous period of not less than
12 months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Effective
Date</U>&rdquo; shall have the meaning set forth in the recitals hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Employee</U>&rdquo;
shall have the meaning set forth in the preamble hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Equity
Award</U>&rdquo; shall have the meaning set forth in <U>Section&nbsp;3(c)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Extension
Term</U>&rdquo; shall have the meaning set forth in <U>Section&nbsp;2(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Employee shall have &ldquo;<U>Good Reason</U>&rdquo; to terminate the Employee&rsquo;s employment hereunder after the occurrence of one
or more of the following conditions without the Employee&rsquo;s consent: (i)&nbsp;any material adverse change by the Company in the Base
Salary, position, duties, responsibilities, authority, title or reporting obligations, or the assignment of duties to the Employee by
the Company that are materially inconsistent with the Employee&rsquo;s position; (ii)&nbsp;a relocation of the Employee&rsquo;s principal
business location by more than 50 miles from its then current location; or (iii)&nbsp;any other material breach by the Company of this
Agreement or any other agreement with the Employee. Notwithstanding the foregoing, no termination for Good Reason will be effective unless:
(A)&nbsp;the Employee provides the Company with at least 30 days prior written notice of her intent to resign for Good Reason (which notice
must be provided within 60 days following the occurrence of the event(s)&nbsp;purported to constitute Good Reason); and (B)&nbsp;the Company
has not remedied the alleged violation(s)&nbsp;within the 30-day period; in which event the Employee&rsquo;s resignation shall become
effective on the 30<SUP>th</SUP> day following the Company&rsquo;s receipt of written notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Initial
Term</U>&rdquo; shall have the meaning set forth in <U>Section&nbsp;2(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Notice
of Termination</U>&rdquo; shall have the meaning set forth in <U>Section&nbsp;4(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Person</U>&rdquo;
shall mean any individual, natural person, corporation (including any non-profit corporation), general partnership, limited partnership,
limited liability partnership, joint venture, estate, trust, company (including any company limited by shares, limited liability company
or joint stock company), incorporated or unincorporated association, governmental authority, firm, society or other enterprise, organization
or other entity of any nature.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Release</U>&rdquo;
shall have the meaning set forth in <U>Section&nbsp;5(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Release
Expiration Date</U>&rdquo; shall have the meaning set forth in <U>Section&nbsp;20(c)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(w)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Section&nbsp;409A</U>&rdquo;
shall mean Section&nbsp;409A of the Code and the Department of Treasury regulations and other interpretive guidance issued thereunder,
including without limitation any such regulations or other guidance that may be issued after the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Severance
Period</U>&rdquo; shall mean the period beginning on the Date of Termination and ending on the date that is commensurate with the end
of the Employee&rsquo;s right to severance payments as set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Three (3)&nbsp;months of severance payment if the Date of Termination is after the Employee has completed at least six (6)&nbsp;months
of service to the Company; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Six (6)&nbsp;months of severance payment if the Date of Termination is on or after the first (1<SUP>st</SUP>) anniversary date of
the Effective Date; plus</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">For every twelve (12) months of service to the Company, as of the first (1<SUP>st</SUP>) anniversary date of the Effective Date, an
additional one (1)&nbsp;month of severance payment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In no event shall the Employee receive more than twelve (12) months
of severance payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&ldquo;<U>Term</U>&rdquo;
shall have the meaning set forth in <U>Section&nbsp;2(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Employment</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>In
General</U>. The Company shall employ the Employee under this Agreement and the Employee shall remain in the employ of the Company under
this Agreement, for the period set forth in <U>Section&nbsp;2(b)</U>, in the position set forth in <U>Section&nbsp;2(c)</U>, and upon
the other terms and conditions herein provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Term
of Employment</U>. The initial term of employment under this Agreement (the &ldquo;<U>Initial Term</U>&rdquo;) shall be for the period
beginning on the Effective Date and ending on the third (3<SUP>rd</SUP>) anniversary thereof, unless earlier terminated as provided in
<U>Section&nbsp;4</U>. The Initial Term shall automatically be extended for successive one-year periods (each, an &ldquo;<U>Extension
Term</U>&rdquo; and, collectively with the Initial Term, the &ldquo;<U>Term</U>&rdquo;), unless either party hereto gives notice of non-extension
of the Term to the other no later than ninety (90) days prior to the expiration of the then-applicable Term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Position
and Duties</U>. During the Term, the Employee: (i)&nbsp;shall serve as Chief Financial Officer of the Company, with responsibilities,
duties and authority customary for such position, subject to direction by the Chief Executive Officer; (ii)&nbsp;shall report directly
to the Chief Executive Officer; (iii)&nbsp;shall devote substantially all the Employee&rsquo;s working time and efforts to the business
and affairs of the Company; and (iv)&nbsp;agrees to observe and comply with the Company&rsquo;s rules&nbsp;and policies as adopted by
the Company from time to time. The parties acknowledge and agree that Employee&rsquo;s duties, responsibilities and authority may include
services for one or more Affiliates of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compensation
and Related Matters</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Base
Salary</U>. During the Term, the Employee shall receive a base salary at a rate of Four Hundred Fifty Thousand U.S. Dollars ($450,000.00)
per annum, as adjusted, which shall be paid in accordance with the customary payroll practices of the Company (the &ldquo;<U>Base Salary</U>&rdquo;).
Employee&rsquo;s Base Salary shall be reviewed annually in connection with Employee&rsquo;s annual performance review with an opportunity
for an increase. The annual review of Employee&rsquo;s Base Salary will consider both Employee&rsquo;s and the Company&rsquo;s performance.
Any adjusted salary then shall become Employee&rsquo;s Base Salary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Bonus</U>.
With respect to each Company fiscal year that commences during the Term, the Employee shall be eligible to receive a performance-based
cash bonus (the &ldquo;<U>Bonus</U>&rdquo;) based on a target bonus opportunity of Fifty Percent (50%) of the Base Salary, which shall
be payable based upon the attainment of Company performance goals established each fiscal year by the Board or the Compensation Committee
thereof, with the opportunity to make up to One Hundred Percent (100%) of the Base Salary, which shall be payable if the Employee and
Company exceed such performance goals. Each such Bonus shall be payable within 120 days following the last day of the fiscal year with
respect to which it relates. Except as provided in <U>Section&nbsp;5</U>, notwithstanding any other provision of this <U>Section&nbsp;3(b)</U>,
no bonus shall be payable with respect to any fiscal year unless the Employee remains continuously employed with the Company during the
period beginning on the Effective Date and ending on the applicable bonus payment date. Notwithstanding the foregoing, bonus for fiscal
2021 shall be measured quarterly, and shall be payable within 45 days following the last day of the fiscal quarter with respect to which
it relates. Bonus calculation for the fiscal quarter ended June&nbsp;30, 2021 will be pro-rated based on the Effective Date. Employee
agrees and acknowledges that the future bonus awards, and the terms and conditions of such bonus awards, shall be subject to the sole
discretion of the Board (or the Compensation Committee of the Board).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Equity
Award</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(i)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to each Company fiscal year commencing in fiscal 2022, the Employee shall be eligible to receive an annual equity compensation
award (each such award, an &ldquo;<U>Equity Award</U>&rdquo;), currently with a minimum target value of Five Hundred Thousand U.S. Dollars
($500,000.00). Each Equity Award shall be subject to the terms of the Shake Shack Inc. 2015 Incentive Award Plan, as amended and as it
may be further amended, or its successor plan (the &ldquo;<U>Incentive Award Plan</U>&rdquo;), and shall be set forth in one or more written
award agreements between the Company and the Employee. The Employee agrees and acknowledges that the future grant of equity awards, if
any, and the terms and conditions of such equity awards, shall be subject to the sole discretion of the Board (or the Compensation Committee
of the Board).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(ii)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything in <U>Section&nbsp;3(c)(i)</U>&nbsp;to the contrary, on or around July&nbsp;15, 2021, Employee shall be granted an Equity Award
comprised of restricted stock units (the &ldquo;<U>Restricted Stock Units</U>&rdquo;) for such number of shares of Pubco&rsquo;s Class&nbsp;A
common stock as may be determined based on an aggregate grant date fair value of Two Million U.S. Dollars ($2,000,000.00), as calculated
on or as close in time as practicable to the grant date. The Equity Award granted in this <U>Section&nbsp;3(c)(ii)</U>&nbsp;shall vest,
provided that the Employee continues through the applicable vesting dates, in five equal installments beginning on the first anniversary
of the grant date and continuing on each anniversary date through the fifth anniversary of the grant date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Benefits</U>.
During the Term, the Employee shall be eligible to participate in employee benefit plans, programs and arrangements of the Company in
accordance with their terms, as in effect from time to time, and as are generally provided by the Company to its senior leaders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Vacation;
Holidays</U>. During the Term, the Employee shall be entitled to paid vacation each full calendar year in accordance with the Company&rsquo;s
Paid Time Off Policy, currently eighteen (18) days. Any vacation shall be taken at the reasonable and mutual convenience of the Company
and the Employee. Holidays shall be provided in accordance with Company policy, as in effect from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Business
Expenses</U>. During the Term, the Company shall reimburse the Employee for all reasonable, documented, out-of-pocket travel and other
business expenses incurred by the Employee in the performance of the Employee&rsquo;s duties to the Company in accordance with the Company&rsquo;s
applicable expense reimbursement policies and procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Indemnification</U>.
During the Term and for so long thereafter as liability exists with regard to the Employee&rsquo;s activities during the Term on behalf
of the Company, the Company shall indemnify the Employee (other than in connection with the Employee&rsquo;s gross negligence or willful
misconduct) in accordance with the Company&rsquo;s customary indemnification policies and procedures which are applicable to the Company&rsquo;s
officers and directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination</U></B></FONT><B>.</B>
During the Term, the Employee&rsquo;s employment hereunder may be terminated by the Company or the Employee, as applicable, without any
breach of this Agreement only under the following circumstances:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Circumstances</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(i)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Death</U>.
The Employee&rsquo;s employment hereunder shall terminate upon the Employee&rsquo;s death.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(ii)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disability</U>.
If the Employee incurs a Disability, the Company may give the Employee written notice of its intention to terminate the Employee&rsquo;s
employment. In that event, the Employee&rsquo;s employment with the Company shall terminate, effective on the later of the 30<SUP>th</SUP>
day after receipt of such notice by the Employee or the date specified in such notice; <U>provided</U> that, within the 30-day period
following receipt of such notice, the Employee shall not have returned to full-time performance of the Employee&rsquo;s duties hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iii)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
for Cause</U>. The Company may terminate the Employee&rsquo;s employment for Cause.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iv)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
without Cause</U>. The Company may terminate the Employee&rsquo;s employment without Cause.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(v)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Resignation
for Good Reason</U>. The Employee may resign from the Employee&rsquo;s employment for Good Reason.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(vi)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Resignation
without Good Reason</U>. The Employee may resign from the Employee&rsquo;s employment without Good Reason.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Notice
of Termination</U>. Any termination of the Employee&rsquo;s employment by the Company or by the Employee under this <U>Section&nbsp;4</U>
(other than a termination pursuant to <U>Section&nbsp;4(a)(i)</U>&nbsp;above) shall be communicated by a written notice to the other party
hereto (a &ldquo;<U>Notice of Termination</U>&rdquo;): (i)&nbsp;indicating the specific termination provision in this Agreement relied
upon, (ii)&nbsp;setting forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Employee&rsquo;s
employment under the provision so indicated (except with respect to a termination pursuant to <U>Sections 4(a)(iv)</U>&nbsp;or <U>(vi)</U>,
for which no detail is necessary), and (iii)&nbsp;specifying a Date of Termination which, if submitted by the Employee, shall be at least
thirty (30) days following the date of such notice with respect to a termination pursuant to <U>Section&nbsp;4(a)(v)</U>&nbsp;or ninety
(90) days following the date of such notice with respect to a termination pursuant to <U>Section&nbsp;4(a)(vi)</U>; <U>provided</U>, <U>however</U>,
that a Notice of Termination delivered by the Company pursuant to <U>Section&nbsp;4(a)(ii)</U>&nbsp;shall not be required to specify a
Date of Termination, in which case the Date of Termination shall be determined pursuant to <U>Section&nbsp;4(a)(ii)</U>; <U>provided further</U>,
that, notwithstanding the foregoing, in the event that the Employee delivers a Notice of Termination to the Company, the Company may,
in its sole discretion, accelerate the Date of Termination to any date that occurs following the date of Company&rsquo;s receipt of such
Notice of Termination (even if such date is prior to the date specified in such Notice of Termination). A Notice of Termination submitted
by the Company (other than a Notice of Termination under <U>Section&nbsp;4(a)(ii)</U>) may provide for a Date of Termination on the date
the Employee receives the Notice of Termination, or any date thereafter elected by the Company in its sole discretion. The failure by
the Company or the Employee to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Cause
or Good Reason shall not waive any right of the Company or the Employee hereunder or preclude the Company or the Employee from asserting
such fact or circumstance in enforcing the Company&rsquo;s or the Employee&rsquo;s rights hereunder. Notwithstanding the foregoing, a
termination pursuant to <U>Section&nbsp;4(a)(iii)</U>&nbsp;shall be deemed to occur if following the Employee&rsquo;s termination of employment
for any reason the Company determines that circumstances existing prior to such termination would have entitled the Company to terminate
the Employee&rsquo;s employment pursuant to <U>Section&nbsp;4(a)(iii)</U>&nbsp;(disregarding any applicable cure period).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Company
Obligations Upon Termination of Employment</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>In
General</U>. Upon a termination of the Employee&rsquo;s employment for any reason, the Employee (or the Employee&rsquo;s estate) shall
be entitled to receive: (i)&nbsp;any portion of the Employee&rsquo;s Base Salary through the Date of Termination not theretofore paid,
(ii)&nbsp;any expenses owed to the Employee under <U>Section&nbsp;3(f)</U>, (iii)&nbsp;any accrued but unused vacation pay owed to the
Employee pursuant to <U>Section&nbsp;3(e)</U>, subject to the Company&rsquo;s Paid Time Off policy and (iv)&nbsp;any amount arising from
the Employee&rsquo;s participation in, or benefits under, any employee benefit plans, programs or arrangements under <U>Section&nbsp;3(d)</U>,
which amounts shall be payable in accordance with the terms and conditions of such employee benefit plans, programs or arrangements. Except
as otherwise set forth in <U>Section&nbsp;5(b)</U>&nbsp;below, the payments and benefits described in this <U>Section&nbsp;5(a)</U>&nbsp;shall
be the only payments and benefits payable in the event of the Employee&rsquo;s termination of employment for any reason.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Termination
without Cause or for Good Reason</U>. In the event of the Employee&rsquo;s termination of employment by the Company without Cause pursuant
to <U>Section&nbsp;4(a)(iv)</U>&nbsp;or by the Employee for Good Reason pursuant to <U>Section&nbsp;4(a)(v)</U>, in addition to the payments
and benefits described in <U>Section&nbsp;5(a)</U>&nbsp;above, the Company shall, subject to <U>Section&nbsp;20</U> and <U>Section&nbsp;5(c)</U>&nbsp;and
subject to the Employee&rsquo;s execution and non-revocation of a waiver and release of claims agreement in the Company&rsquo;s customary
form (a &ldquo;<U>Release</U>&rdquo;), as of the Release Expiration Date, in accordance with <U>Section&nbsp;20(c)</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(i)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Continue
to pay to the Employee Base Salary during the Severance Period in accordance with the Company&rsquo;s regular payroll practice as of the
Date of Termination;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(ii)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pay
to the Employee an amount equal to the (A)&nbsp;the amount of the Bonus that would have been payable to the Employee pursuant to <U>Section&nbsp;3(b)</U>&nbsp;if
the Employee was still employed as of the applicable bonus payment date in respect of the fiscal year in which the Date of Termination
occurs, except that (x)&nbsp;the Employee shall receive only a portion of the Bonus that the Employee otherwise would have been entitled
to pursuant to <U>Section&nbsp;3(b)</U>&nbsp;that is attributable to achievement of Company performance goals only (and excluding individual
performance goals) in such year and (y)&nbsp;the Bonus shall in no event exceed the portion of the Employee&rsquo;s target bonus opportunity
set forth in <U>Section&nbsp;3(b)</U>&nbsp;relating to achievement of the Company&rsquo;s performance goals only (and excluding individual
performance goals) in such year, <U>multiplied by</U> (B)&nbsp;the ratio of (x)&nbsp;the number of full months elapsed during the fiscal
year during which such termination of employment occurs on or prior to the Date of Termination, to (y)&nbsp;twelve (12). Any amount payable
pursuant to this <U>Section&nbsp;5(b)(ii)</U>&nbsp;shall, subject to <U>Section&nbsp;20</U> and <U>Section&nbsp;5(c)</U>, be paid to Employee
in accordance with <U>Section&nbsp;3(b)</U>&nbsp;as if the Employee was still employed on the applicable bonus payment date, but in no
event earlier than January&nbsp;1, or later than December&nbsp;31, of the calendar year immediately following the calendar year in which
the Date of Termination occurs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In any fiscal year, in the
event the Date of Termination occurs prior to the applicable bonus payment date for the prior fiscal year, the Employee shall be entitled
to receive an Bonus with respect to the prior fiscal year in accordance with the terms set forth in <U>Section&nbsp;3(b)</U>&nbsp;as if
the Employee was still employed on the applicable bonus payment date, but in no event prior to the applicable bonus payment date for such
prior fiscal year;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iii)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the Severance Period, if the Employee elects to continue coverage under the Company&rsquo;s group health plan in accordance with the Consolidated
Omnibus Budget Reconciliation Act of 1985, as amended (&ldquo;<U>COBRA</U>&rdquo;), continue coverage for the Employee and any eligible
dependents under the Company group health benefit plans in which the Employee and any dependents were entitled to participate immediately
prior to the Date of Termination. In the event Employee elects to continue with COBRA coverage, provided that Employee timely submits
to the Company evidence of Employee&rsquo;s payments made to the COBRA administrator, the Company will reimburse Employee for the Company&rsquo;s
share of the premiums associated therewith in an amount equal to what the Company pays for the health insurance premiums of other senior
level employees at the Company. The COBRA health continuation period under Section&nbsp;4980B of the Code shall run concurrently with
the period of continued coverage set forth in this <U>Section&nbsp;5(b)(iii)</U>; <U>provided</U>, <U>however</U>, that in the event Employee
obtains other employment that offers group health benefits, such continuation of COBRA coverage by the Company under this <U>Section&nbsp;5(b)(iii)</U>&nbsp;shall
immediately cease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iv)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of the Date of Termination, the Company shall, at its expense, provide the Employee with outplacement services from one or more organizations
that are then offered by the Company from time to time for up to six (6)&nbsp;months from the Date of Termination or until employment
is obtained, whichever occurs first.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Breach
of Restrictive Covenants</U>. Notwithstanding any other provision of this Agreement, no payment or benefit shall be made or provided pursuant
to <U>Section&nbsp;5(b)</U>&nbsp;following the date the Employee first violates any of the restrictive covenants set forth in <U>Section&nbsp;6</U>
or any other written agreement between the Employee and the Company or any of its Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Complete
Severance</U>. The provisions of this <U>Section&nbsp;5</U> shall supersede in their entirety any severance payment or benefit obligations
to the Employee pursuant to the provisions in any severance plan, policy, program or other arrangement maintained by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restrictive
Covenants</U></B></FONT>. In consideration for the potential payments to the Employee hereunder, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Employee agrees to the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Confidentiality</U>.
The Employee shall not, at any time during the Term or at any time thereafter, directly or indirectly, use for the benefit of herself
or any third party or disclose to any Person, firm, company or other entity (other than the Company or any of its Affiliates) any Confidential
Information without the prior written consent of the Company, except (i)&nbsp;as required in the performance of her duties to the Company
and its Affiliates, (ii)&nbsp;to the extent that the Employee is required by law, subpoena or court order to disclose any Confidential
Information (provided that in such case, the Employee shall (1)&nbsp;provide the Company with the earliest notice possible that such disclosure
is or may be required, (2)&nbsp;reasonably cooperate with the Company and its Affiliates, at the Company&rsquo;s expense, in protecting,
to the maximum extent legally permitted, the confidential or proprietary nature of such Confidential Information and (3)&nbsp;disclose
only that Confidential Information which she is legally required to disclose), (iii)&nbsp;disclosing information that has been or is hereafter
made public through no act or omission of the Employee in violation of this Agreement or any other confidentiality obligation or duty
owed to the Company or its Affiliates, (iv)&nbsp;disclosing information and documents to her attorney or tax adviser for the purpose of
securing legal or tax advice (provided that such Persons agree to keep such information confidential) or (v)&nbsp;disclosing only the
post-employment restrictions in this Agreement in confidence to any potential new employer. The Employee shall take all actions necessary
to protect the integrity of the business plans, customer lists, statistical data and compilations, agreements, contracts, manuals or other
materials, in whatever form, of the Company and its Affiliates that contain Confidential Information, and upon the termination of the
Employee&rsquo;s employment, the Employee agrees that all Confidential Information in her possession or under her control, directly or
indirectly, that is in writing, computer generated or other tangible form (together with all duplicates thereof) will forthwith be returned
to the Company and will not be retained by the Employee or furnished to any Person, either by sample, facsimile, film, audio or video
cassette, electronic data, verbal communication or any other means of communication. The Employee agrees that the provisions of this <U>Section&nbsp;6</U>
are reasonable and necessary to protect the proprietary rights of the Company and its Affiliates in the Confidential Information and trade
secrets, goodwill and reputation. In addition, the terms and conditions of this Agreement shall remain strictly confidential, and the
Employee shall not disclose the terms and conditions hereof to any Person, other than immediate family members, legal advisors or personal
tax or financial advisors, provided that each such Person agrees to keep such terms and conditions confidential.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Non-Competition</U>.
The Employee shall not, during the Term and for a period of time after the Employee&rsquo;s Date of Termination equal to twelve (12) months,
directly or indirectly, whether for herself or on behalf of any other Person, engage in, own, manage, operate, advise, provide financing
to, control or participate in the ownership, management or control of, or be connected as an officer, employee, partner, director, or
otherwise with, or have any financial interest (whether as a stockholder, director, officer, partner, consultant, proprietor, agent or
otherwise) in, or aid or assist anyone else in the conduct of, any Business that competes, directly or indirectly, with the Company or
any of its Affiliates in the Business or is otherwise engaged in activities competitive with the Company or any of its Affiliates in the
Business, in any jurisdiction in the United States of America or any other country in the world where the Company or any of its Affiliates
are then engaged in the Business (the &ldquo;<U>Restricted Area</U>&rdquo;). Nothing herein shall prohibit Employee&rsquo;s spouse from
maintaining ownership and/or managerial interests in Korean Chicken restaurants in the Bahamas and Cayman. The Business of any of the
Company&rsquo;s licensed or franchise partners, whether now or in the future, shall be deemed competitive with the Company or any of its
Affiliates in the Business. The Employee agrees that the restrictions set forth in this <U>Section&nbsp;6(b)</U>&nbsp;shall apply to any
business (not only the Business) of the Company&rsquo;s licensed or franchised partners.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Employee agrees that the
Restricted Area is reasonable taking into consideration the nature and scope of the operations of the Company and its Affiliates in the
Business and the Employee&rsquo;s role in such operations. It shall not be a violation of this <U>Section&nbsp;6(b)</U>&nbsp;for the Employee
to own less than 1% of the outstanding shares of a corporation that is engaged in the Business whose shares are listed on a national stock
exchange or traded in accordance with the automated quotation system of the National Association of Securities Dealers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Non-Solicitation</U>.
The Employee shall not, during the Term and for a period time after the Employee&rsquo;s Date of Termination equal to twelve (12) months,
either directly or indirectly, and whether for herself or on behalf of any other Person; (i)&nbsp;seek to persuade any employee or consultant
of the Company or any of its Affiliates to discontinue or diminish her or her status or employment therewith or seek to persuade any employee,
former employee (who was employed by the Company or any of its Affiliates at any time during the 12-month period prior to the termination
of the Employee&rsquo;s employment with the Company), or exclusive consultant of the Company or any of its Affiliates to become employed
or to provide consulting or contract services to a business competitive with the Company or its Affiliates in the Business; (ii)&nbsp;solicit,
employ or engage, or cause to be solicited, employed, or engaged, any person who is or was employed by the Company or any of its Affiliates
at any time during the 12-month period prior to the termination of the Employee&rsquo;s employment with the Company; or (iii)&nbsp;solicit,
encourage, or induce any contractor, agent, client, customer, supplier, or the like of the Company or any of its Affiliates to terminate
or diminish its/her relationship with, the Company or any of its Affiliates, or to refrain from entering into a relationship with the
Company or any of its Affiliates, including, without limitation, any prospective contact, contractor, agent, client, customer, or the
like of the Company or any of its Affiliates; <U>provided</U>, <U>however</U>, that the foregoing shall not prohibit the Employee from
placing any general advertisements for employees so long as such general advertisements are not directed to any employees of the Company
or any of its Affiliates (provided that the Employee may not, during the time periods set forth in this <U>Section&nbsp;6(c)</U>, hire
or engage any such Person who responds to such general advertisement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Non-Disparagement</U>.
The Employee agrees not to disparage the Company, any of its products or practices, or any of its directors, officers, agents, representatives,
partners, members, equity holders or Affiliates, either orally or in writing, at any time, and the Company agrees to instruct its directors
and officers as of the Date of Termination not to disparage the Employee, either orally or in writing, at any time; <U>provided</U> that
the Employee, the Company and the Company&rsquo;s directors and officers may confer in confidence with their respective legal representatives
and make truthful statements as required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Return
of Company Property</U>. On the date of the Employee&rsquo;s termination of employment with the Company for any reason, the Employee shall
return all property belonging to the Company or its Affiliates (including, but not limited to, any Company-provided laptops, computers,
cell phones, wireless electronic mail devices or other equipment, or documents and property belonging to the Company). The Employee may
retain her rolodex and similar books, provided that such items only include contact information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Remedies</U>.
In addition to whatever other rights and remedies the Company and its Affiliates may have at equity or in law (including, without limitation,
the right to seek monetary damages), if the Employee breaches any of the provisions contained in this <U>Section&nbsp;6</U>, (i)&nbsp;the
Company shall have the right immediately to terminate the Employee&rsquo;s right to any amounts payable under this Agreement and (ii)&nbsp;the
Company and its Affiliates shall have the right to injunctive relief, without the requirement to prove actual damages or to post any bond
or other security, and to obtain the costs and reasonable attorneys&rsquo; fees they incur in enforcing their rights under this Agreement.
The Employee acknowledges that (A)&nbsp;her breach of this <U>Section&nbsp;6</U> would cause irreparable injury to the Company and/or
its Affiliates, (B)&nbsp;money damages alone would not provide an adequate remedy for the Company or its Affiliates, (C)&nbsp;her services
to the Company are special, unique and extraordinary, and (D)&nbsp;the restrictions in this <U>Section&nbsp;6</U> (x)&nbsp;are no greater
than required to protect the Company&rsquo;s legitimate protectable interests (including, without limitation, the Confidential Information
and the Company&rsquo;s goodwill), (y)&nbsp;do not impose undue hardship on the Employee, and (z)&nbsp;are reasonable in duration and
geographic scope. The Employee further acknowledges that (I)&nbsp;any breach or claimed breach of the provisions set forth in this Agreement
shall not be a defense to enforcement of the restrictions set forth in this <U>Section&nbsp;6</U> and (II)&nbsp;the circumstances of the
Employee&rsquo;s termination of employment with the Company shall have no impact on her obligations under this <U>Section&nbsp;6</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Blue
Pencil</U>. In the event the terms of this <U>Section&nbsp;6</U> shall be determined by any court of competent jurisdiction to be unenforceable
by reason of its extending for too great a period of time or over too great a geographical area or by reason of its being too extensive
in any other respect, it will be interpreted to extend only over the maximum period of time for which it may be enforceable, over the
maximum geographical area as to which it may be enforceable, or to the maximum extent in all other respects as to which it may be enforceable,
all as determined by such court in such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Tolling
During Periods Of Breach</U>. The Employee and the Company agree and intend that the Employee&rsquo;s obligations under this <U>Section&nbsp;6</U>
be tolled during any period that the Employee is in breach of any of the obligations under this <U>Section&nbsp;6</U>, so that the Company
and each Affiliate of the Company are provided with the full benefit of the restrictive periods set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Third
Party Beneficiary</U>. The Company and each Affiliate of the Company are intended third party beneficiaries of the terms of this <U>Section&nbsp;6</U>
and shall have the right to enforce the provisions of this <U>Section&nbsp;6</U> as if they were a party hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Survival</U>.
The Employee&rsquo;s obligations under this <U>Section&nbsp;6</U> shall survive the termination of this Agreement and the termination
of his employment with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignment
and Successors</U></B></FONT><B>.</B> The Company may assign its rights and obligations under this Agreement to any entity, including
any successor to all or substantially all the assets of the Company, by merger or otherwise, and may assign or encumber this Agreement
and its rights hereunder as security for indebtedness of the Company and its Affiliates. The Employee may not assign the Employee&rsquo;s
rights or obligations under this Agreement to any individual or entity. This Agreement shall be binding upon and inure to the benefit
of the Company, the Employee and their respective successors, assigns, personnel and legal representatives, executors, administrators,
heirs, distributees, devisees, and legatees, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Dispute
Resolution</U></B></FONT><B>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Employee
and the Company agree that any claim, dispute, or controversy arising between them, including but not limited to all issues and questions
concerning the application, construction, validity, interpretation and enforcement of this Agreement (collectively, &ldquo;<U>Claims</U>&rdquo;),
shall be resolved by final and binding arbitration, pursuant to the Federal Arbitration Act, by JAMS in accordance with its Employment
Arbitration Rules&nbsp;&amp; Procedures (or any successor rules&nbsp;and procedures then in effect for employment disputes) (&ldquo;<U>Rules</U>&rdquo;).
Both the Company and Employee shall have the right to be represented by counsel of their choosing (at their own expense) and shall be
entitled to adequate discovery prior to the arbitration as determined by the arbitrator, who shall be selected in accordance with the
Rules. Any such arbitration shall take place in New York, New York, unless otherwise mutually agreed upon by Employee and the Company.
To the extent the rules&nbsp;of JAMS differ from the terms of this Agreement, the terms of this Agreement shall govern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Employee
understands and agrees that the procedures outlined in this Agreement will be the exclusive means of redress for any disputes relating
to or arising from Employee&rsquo;s employment with the Company (or Employee&rsquo;s termination), whether such disputes are initiated
by Employee or the Company. The claims covered by this provision include, but are not limited to: (i)&nbsp;claims for wages or other compensation,
including such claims due to breach of any contract or covenant (express or implied); (ii)&nbsp;tort claims, including claims for damages
or personal injury; (iii)&nbsp;claims for benefits (except where an employee benefit or pension plan specifies that its claims procedures
shall culminate in an arbitration procedure different from this one); and (iv)&nbsp;claims for violation of any federal, state, or local
law, statute, regulation, or ordinance, or the common law. The arbitrator shall apply the substantive law of the state in which the Claim
arose or federal law, or both, as applicable to the Claim asserted. The following claims are not covered by this <U>Section&nbsp;8</U>
arbitration provision: claims for: (i)&nbsp;workers&rsquo; compensation; (ii)&nbsp;unemployment compensation benefits; (iii)&nbsp;pre-dispute
claims under the Dodd-Frank Act; and (iv)&nbsp;to the extent that the Federal Arbitration Act, 9 U.S.C. &sect;&nbsp;1 <I>et seq.</I>,
does not preempt New York State Senate Bill S7507C and/or New York Civil Practice Law and Rules&nbsp;Section&nbsp;7515, claims for sexual
harassment. A request for arbitration must be submitted within the applicable statute of limitations period under the federal, state,
or local law governing the Claim at issue; otherwise, the Claim shall be void and deemed waived. The Federal Rules&nbsp;of Evidence shall
apply to the arbitration proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Employee
and the Company understand and acknowledge that, by entering into this Agreement, Employee and the Company are waiving their respective
rights to a trial by jury and to have any Claims adjudicated by a court or jury. Employee and the Company agree that the arbitrator&rsquo;s
award will be final and binding on both parties and understand that their ability to appeal the arbitrator&rsquo;s written decision is
strictly limited under the Federal Arbitration Act. Each party will have the right to request that the arbitrator issue a written decision
that memorializes the essential findings of fact and law and the conclusions upon which the arbitrator&rsquo;s decision and the award,
if any, are based. The arbitrator shall be empowered to award either party any remedy at law or equity to which the party otherwise would
have been entitled had the matter been litigated in court, including, but not limited to, general, special, and punitive damages, injunctive
relief, costs and attorneys&rsquo; fees; provided, however, that the authority to award any remedy is subject to whatever limitations,
if any, exist in the applicable law on such remedies. The arbitrator shall have no jurisdiction to issue any award contrary to or inconsistent
with the law, including the statute, regulation, ordinance, or common law at issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Employee
understands that nothing in this Agreement shall prohibit Employee from filing a charge with a government agency responsible for the enforcement
of statutory rights, including but not limited to the National Labor Relations Board, the U.S. Equal Employment Opportunity Commission,
the United States Department of Labor, and similar state and local agencies. However, notwithstanding the foregoing, Employee may not
file a private lawsuit in any court regarding those statutory rights. Moreover, Employee may not participate as a class and/or collective
member in any class and/or collective action filed in any court.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Employee
and the Company expressly intend and agree that: (i)&nbsp;class action, collective action, and representative action procedures shall
not be asserted, nor will they apply, in any arbitration pursuant to this Agreement; (ii)&nbsp;neither Employee nor the Company will assert,
participate in, or join class action, collective action, or representative action claims against the other party in arbitration or otherwise;
and (iii)&nbsp;Employee and the Company shall only submit their own, individual claims in arbitration and will not seek to represent the
interests of any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Validity</U></B></FONT><B>.</B>
The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement, which shall remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U></B></FONT><B>.</B>
Any notice, request, claim, demand, document and other communication hereunder to any party hereto shall be effective upon receipt (or
refusal of receipt) and shall be in writing and delivered personally or sent by telex, telecopy, or certified or registered mail, postage
prepaid, to the following address (or at any other address as any party hereto shall have specified by notice in writing to the other
party hereto):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If
to the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">Shake Shack Enterprises, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">225 Varick Street, Suite&nbsp;301</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">New York, NY 10014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">Attn: Ronald Palmese,&nbsp;Jr., Senior Vice President and
General Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Email:
</FONT><U>rpalmese@shakeshack.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in">Phone: 646-747-7241</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>If
to the Employee, at the address set forth on the signature page&nbsp;hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts</U></B></FONT><B>.</B>
This Agreement may be executed in several counterparts, each of which shall be deemed to be an original, but all of which together will
constitute one and the same Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire
Agreement</U></B></FONT><B>.</B> The terms of this Agreement (together with any other agreements and instruments contemplated hereby or
referred to herein) is intended by the parties hereto to be the final expression of their agreement with respect to the employment of
the Employee by the Company and may not be contradicted by evidence of any prior or contemporaneous agreement (including, without limitation,
any term sheet or offer letter). The parties hereto further intend that this Agreement shall constitute the complete and exclusive statement
of its terms and that no extrinsic evidence whatsoever may be introduced in any judicial, administrative, or other legal proceeding to
vary the terms of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendments;
Waivers</U></B></FONT><B>.</B> This Agreement may not be modified, amended, or terminated except by an instrument in writing, signed by
the Employee and a duly authorized officer of the Partnership, which expressly identifies the amended provision of this Agreement. The
Employee or a duly authorized officer of the Partnership may waive compliance by the other party or parties hereto with any provision
of this Agreement that such other party was or is obligated to comply with or perform; <U>provided</U>, <U>however</U>, that such waiver
shall not operate as a waiver of, or estoppel with respect to, any other or subsequent failure to comply or perform. No failure to exercise
and no delay in exercising any right, remedy, or power hereunder shall preclude any other or further exercise of any other right, remedy,
or power provided herein or by law or in equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Inconsistent Actions</U></B></FONT><B>.</B> The parties hereto shall not voluntarily undertake or fail to undertake any action or course
of action inconsistent with the provisions or essential intent of this Agreement. Furthermore, it is the intent of the parties hereto
to act in a fair and reasonable manner with respect to the interpretation and application of the provisions of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Construction</U></B></FONT><B>.</B>
This Agreement shall be deemed drafted equally by both of the parties hereto. Its language shall be construed as a whole and according
to its fair meaning. Any presumption or principle that the language is to be construed against any party hereto shall not apply. The headings
in this Agreement are only for convenience and are not intended to affect construction or interpretation. Any references to paragraphs,
subparagraphs, sections or subsections are to those parts of this Agreement, unless the context clearly indicates to the contrary. Also,
unless the context clearly indicates to the contrary, (a)&nbsp;the plural includes the singular and the singular includes the plural;
(b)&nbsp;&ldquo;and&rdquo; and &ldquo;or&rdquo; are each used both conjunctively and disjunctively; (c)&nbsp;&ldquo;any,&rdquo; &ldquo;all,&rdquo;
 &ldquo;each,&rdquo; or &ldquo;every&rdquo; means &ldquo;any and all,&rdquo; and &ldquo;each and every&rdquo;; (d)&nbsp;&rdquo;includes&rdquo;
and &ldquo;including&rdquo; are each &ldquo;without limitation&rdquo;; (e)&nbsp;&ldquo;herein,&rdquo; &ldquo;hereof,&rdquo; &ldquo;hereunder&rdquo;
and other similar compounds of the word &ldquo;here&rdquo; refer to the entire Agreement and not to any particular paragraph, subparagraph,
section or subsection; and (f)&nbsp;all pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter,
singular or plural as the identity of the Persons referred to may require.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Enforcement</U></B></FONT><B>.</B>
If any provision of this Agreement is held to be illegal, invalid or unenforceable under present or future laws effective during the term
of this Agreement, such provision shall be fully severable; this Agreement shall be construed and enforced as if such illegal, invalid
or unenforceable provision had never comprised a portion of this Agreement; and the remaining provisions of this Agreement shall remain
in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance from this Agreement.
Furthermore, in lieu of such illegal, invalid or unenforceable provision there shall be added automatically as part of this Agreement
a provision as similar in terms to such illegal, invalid or unenforceable provision as may be possible and be legal, valid and enforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Withholding</U></B></FONT><B>.</B>
The Company and its Affiliates shall be entitled to withhold from any amounts payable under this Agreement, any federal, state, local
or foreign withholding or other taxes or charges which the Company or any of its Affiliates is required to withhold. The Company and its
Affiliates shall be entitled to rely on an opinion of counsel if any questions as to the amount or requirement of withholding shall arise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Absence
of Conflicts; Employee Acknowledgement; Confidentiality</U></B></FONT><B>.</B> The Employee hereby represents that from and after the
Effective Date the performance of the Employee&rsquo;s duties hereunder will not breach any other agreement to which the Employee is a
party. The Employee acknowledges that the Employee has read and understands this Agreement, is fully aware of its legal effect, has not
acted in reliance upon any representations or promises made by the Company or any of its Affiliates other than those contained in writing
herein, and has entered into this Agreement freely based on the Employee&rsquo;s own judgment. The Employee agrees not to disclose the
terms or existence of this Agreement to any Person unless the Company agrees to such disclosure in advance and in writing; <U>provided</U>
that the Employee may, without such permission, make such disclosures as are required by applicable law, including disclosures to taxing
agencies, and disclose the terms of this Agreement to the Employee&rsquo;s attorney(s), accountant(s), tax advisor(s), and other professional
service provider(s), and to members of the Employee&rsquo;s immediate family, as reasonably necessary; <U>provided</U>, <U>further</U>,
that the Employee instructs such Person(s)&nbsp;that the terms of this Agreement are strictly confidential and are not to be revealed
to anyone else except as required by applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Survival</U></B></FONT><B>.</B>
The expiration or termination of the Term shall not impair the rights or obligations of any party hereto which shall have accrued prior
to such expiration or termination (including, without limitation, pursuant to the provisions of <U>Section&nbsp;6</U> hereof).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section&nbsp;409A</U></B></FONT><B>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>General</U>.
The parties hereto acknowledge and agree that, to the extent applicable, this Agreement shall be interpreted in accordance with, and incorporate
the terms and conditions required by, Section&nbsp;409A. Notwithstanding any provision of this Agreement to the contrary, in the event
that the Company determines that any amounts payable hereunder will be immediately taxable to the Employee under Section&nbsp;409A, the
Company reserves the right (without any obligation to do so or to indemnify the Employee for failure to do so) to (i)&nbsp;adopt such
amendments to this Agreement and appropriate policies and procedures, including amendments and policies with retroactive effect, that
the Company determines to be necessary or appropriate to preserve the intended tax treatment of the benefits provided by this Agreement,
to preserve the economic benefits of this Agreement and to avoid less favorable accounting or tax consequences for the Company and/or
(ii)&nbsp;take such other actions as the Company determines to be necessary or appropriate to exempt the amounts payable hereunder from
Section&nbsp;409A or to comply with the requirements of Section&nbsp;409A and thereby avoid the application of penalty taxes thereunder.
Notwithstanding anything herein to the contrary, in no event shall any liability for failure to comply with the requirements of Section&nbsp;409A
be transferred from the Employee or any other individual to the Company or any of its Affiliates, employees or agents pursuant to the
terms of this Agreement or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Separation
from Service under Section&nbsp;409A</U>. Notwithstanding any provision to the contrary in this Agreement: (i)&nbsp;no amount shall be
payable pursuant to <U>Section&nbsp;5(b)</U>&nbsp;unless the termination of the Employee&rsquo;s employment constitutes a &ldquo;separation
from service&rdquo; within the meaning of Section&nbsp;1.409A-1(h)&nbsp;of the Department of Treasury Regulations; (ii)&nbsp;for purposes
of Section&nbsp;409A, the Employee&rsquo;s right to receive installment payments pursuant to <U>Section&nbsp;5(b)</U>&nbsp;shall be treated
as a right to receive a series of separate and distinct payments; and (iii)&nbsp;to the extent that any reimbursement of expenses or in-kind
benefits constitutes &ldquo;deferred compensation&rdquo; under Section&nbsp;409A, such reimbursement or benefit shall be provided no later
than December&nbsp;31 of the year following the year in which the expense was incurred. The amount of expenses reimbursed in one year
shall not affect the amount eligible for reimbursement in any subsequent year. The amount of any in-kind benefits provided in one year
shall not affect the amount of in-kind benefits provided in any other year. Notwithstanding any provision to the contrary in this Agreement,
if the Employee is deemed at the time of his separation from service to be a &ldquo;specified employee&rdquo; for purposes of Section&nbsp;409A(a)(2)(B)(i)&nbsp;of
the Code, to the extent delayed commencement of any portion of the termination benefits to which the Employee is entitled under this Agreement
is required in order to avoid a prohibited distribution under Section&nbsp;409A(a)(2)(B)(i)&nbsp;of the Code, such portion of the Employee&rsquo;s
termination benefits shall not be provided to the Employee prior to the earlier of (A)&nbsp;the expiration of the six-month period measured
from the date of the Employee&rsquo;s &ldquo;separation from service&rdquo; with the Company (as such term is defined in the Treasury
Regulations issued under Section&nbsp;409A of the Code) or (B)&nbsp;the date of the Employee&rsquo;s death; upon the earlier of such dates,
all payments deferred pursuant to this sentence shall be paid in a lump sum to the Employee, and any remaining payments due under the
Agreement shall be paid as otherwise provided herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Release</U>.
Notwithstanding anything to the contrary in this Agreement, to the extent that any payments of &ldquo;nonqualified deferred compensation&rdquo;
(within the meaning of Section&nbsp;409A) due under this Agreement as a result of the Employee&rsquo;s termination of employment are subject
to the Employee&rsquo;s execution, delivery and non-revocation of a Release, (i)&nbsp;the Company shall deliver the Release to the Employee
within 7 days following the Date of Termination, and (ii)&nbsp;if the Employee fails to execute the Release on or prior to the Release
Expiration Date (as defined below) or timely revokes his acceptance of the Release thereafter, the Employee shall not be entitled to any
payments or benefits otherwise conditioned on the Release. For purposes of this <U>Section&nbsp;20(c)</U>, &ldquo;<U>Release Expiration
Date</U>&rdquo; shall mean the date that is 21 days following the date upon which the Company timely delivers the Release to the Employee,
or, in the event that the Employee&rsquo;s termination of employment is &ldquo;in connection with an exit incentive or other employment
termination program&rdquo; (as such phrase is defined in the Age Discrimination in Employment Act of 1967), the date that is 45 days following
such delivery date. To the extent that any payments of nonqualified deferred compensation (within the meaning of Section&nbsp;409A) due
under this Agreement as a result of the Employee&rsquo;s termination of employment are delayed pursuant to <U>Section&nbsp;5(b)</U>&nbsp;and
this <U>Section&nbsp;20(c)</U>, such amounts shall be paid in a lump sum on the first payroll date to occur on or after the 60th day following
the Date of Termination, provided that, as of such 60th day, the Employee has executed and has not revoked the Release (and any applicable
revocation period has expired).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compensation
Recovery Policy</U>. </B></FONT>The Employee acknowledges and agrees that, to the extent the Company adopts any clawback or similar policy
pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act or otherwise, and any rules&nbsp;and regulations promulgated
thereunder, she shall take all action necessary or appropriate to comply with such policy (including, without limitation, entering into
any further agreements, amendments or policies necessary or appropriate to implement and/or enforce such policy).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>[Signature pages&nbsp;follow]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
hereto have executed this Employment Agreement on the date and year first above written, effective as of the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>SHAKE SHACK</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">SHAKE SHACK INC.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/
    Ronald Palmese Jr.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Ronald Palmese Jr.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Senior Vice President&nbsp;&amp;
    General Counsel</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">SSE HOLDINGS, LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Ronald Palmese Jr.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Ronald Palmese Jr.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Senior Vice President&nbsp;&amp;
    General Counsel</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">SHAKE SHACK ENTERPRISES, LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Ronald Palmese Jr.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Ronald Palmese Jr.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Senior Vice President, General
    Counsel</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">EMPLOYEE</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Katherine Fogertey</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Katherine Fogertey</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Residence Address:</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">250 South End Ave</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Apt 16BD</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">NY, NY 10280</FONT></TD></TR>
  </TABLE>


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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>tm2119244d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="tm2119244d1_ex99-1img001.jpg" ALT="" STYLE="height: 53px; width: 264px"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Shake Shack Appoints
Katherine Fogertey as Chief Financial Officer</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NEW YORK, NY (Business Wire) &mdash; June 9,
2021 &mdash; <B>Shake Shack Inc.</B> (&ldquo;Shake Shack&rdquo; or the &ldquo;Company&rdquo;) (NYSE: SHAK) today announced that Katherine
Fogertey has been appointed to serve as the Company&rsquo;s Chief Financial Officer, effective June 14, 2021. Katie joins Shake Shack&rsquo;s
executive leadership team and will be responsible for leading financial operations across the Company, including accounting and control,
financial planning and analysis, operations finance, investor relations and external reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Katie brings to Shake Shack more than 15 years
of financial and investment experience, including equity and derivatives research, financial modeling and forecasting, and a deep understanding
and focus on the restaurant industry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Randy Garutti, CEO of Shake Shack, stated, &quot;I
am excited to welcome Katie to the Shake Shack leadership team as CFO. She brings extensive financial experience, knowledge of our brand
and deep industry and capital markets insights. I know Katie will be a natural fit in our Shake Shack culture, and I&rsquo;m looking forward
to working with her and our entire team as our business enters a new phase of exciting growth ahead.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prior to joining Shake Shack, Ms. Fogertey spent
over 15 years at Goldman Sachs in New York City where she rose to lead analyst covering the restaurant sector. In this position, she had
a heavy focus on the impact of technology and growth opportunities in the sector. Prior, she was a lead analyst for Derivatives and ETF
research. She has held various leadership roles during her tenure at Goldman Sachs, including co-head of the Global Investment Research
Women's Network. Katie is from St. Louis, MO and holds a BSBA from Washington University in St. Louis in Accounting, Finance and International
Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&quot;I have always admired the incredible brand Shake Shack has built
and maintained, while accelerating its expansion and growth across the globe. I am beyond thrilled to be joining the team at such a pivotal
time in the Company&rsquo;s journey. The Shack brand is stronger than ever and well positioned to capitalize on all the many opportunities
ahead,&rdquo; said Katie Fogertey.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Katie will be based in Shake Shack&rsquo;s home office in New York
City.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Photo available <U>here</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About Shake Shack</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Shake Shack is a modern day &quot;roadside&quot;
burger stand serving a classic American menu of premium burgers, chicken sandwiches, hot dogs, crinkle cut fries, shakes, frozen custard,
beer and wine. With its fresh, simple, high-quality food at a great value, Shake Shack is a fun and lively community gathering place with
widespread appeal. Shake Shack&rsquo;s mission is to Stand for Something Good&reg;, from its premium ingredients and caring hiring practices
to its inspiring designs and deep community investment. Since the original Shack opened in 2004 in NYC&rsquo;s Madison Square Park, the
Company has expanded to approximately 330 locations in 32 U.S. States and the District of Columbia, including more than 100 international
locations including London, Hong Kong, Shanghai, Singapore, Philippines, Mexico, Istanbul, Dubai, Tokyo, Seoul and more.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Investor Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ICR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Melissa Calandruccio,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Michelle Michalski,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(844) SHACK04 (844-742-2504)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">investor@shakeshack.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Media Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Shake Shack</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Kristyn Clark</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">kclark@shakeshack.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Source: Shake Shack Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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</schema>
</XBRL>
</TEXT>
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<DOCUMENT>
<TYPE>EX-101.LAB
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>8
<FILENAME>shak-20210609_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
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<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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</head>
<body>
<span style="display: none;">v3.21.1</span><table class="report" border="0" cellspacing="2" id="idm139714544983224">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Jun. 09, 2021</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Jun.  09,  2021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-36823<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">SHAKE
SHACK INC.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001620533<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">47-1941186<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">225 Varick Street<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Suite 301<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">New
York<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">NY<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">10014<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">646<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">747-7200<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Class A Common Stock, par value $0.001<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">SHAK<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
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<td>dei:edgarStateCountryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
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<td>dei_</td>
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<td>xbrli:booleanItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
