<SEC-DOCUMENT>0000930413-15-000258.txt : 20150126
<SEC-HEADER>0000930413-15-000258.hdr.sgml : 20150126
<ACCEPTANCE-DATETIME>20150126161200
ACCESSION NUMBER:		0000930413-15-000258
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20150324
FILED AS OF DATE:		20150126
DATE AS OF CHANGE:		20150126
EFFECTIVENESS DATE:		20150126

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARK RESTAURANTS CORP
		CENTRAL INDEX KEY:			0000779544
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				133156768
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09453
		FILM NUMBER:		15548689

	BUSINESS ADDRESS:	
		STREET 1:		85 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003-3019
		BUSINESS PHONE:		2122068800

	MAIL ADDRESS:	
		STREET 1:		85 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003-3019
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>c79956_sch14a.htm
<TEXT>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE 14A</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: center">Proxy Statement Pursuant to Section 14(a)
of the Securities Exchange Act of 1934</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">Filed by the Registrant <FONT STYLE="font: 12pt Wingdings">&#254;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Filed by a Party other than the Registrant <FONT STYLE="font: 12pt Wingdings">o</FONT></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">Check the appropriate box:</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"><FONT STYLE="font: 12pt Wingdings">o </FONT>Preliminary Proxy
Statement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 12pt Wingdings">o </FONT>Confidential, for
use of the Commission only (as permitted by Rule 14a-6 (e)(2))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 12pt Wingdings">&#254; </FONT>Definitive
Proxy Statement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 12pt Wingdings">o </FONT>Definitive Additional
Materials</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 12pt Wingdings">o </FONT>Soliciting Material
under Rule 14a-12</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; text-align: center; margin-bottom: 0pt">&nbsp;&#9;<FONT STYLE="font: small-caps 16pt Times New Roman, Times, Serif"><B>Ark
Restaurants Corp.</B></FONT><BR>
&nbsp;&#9;(Name of Registrant as Specified In Its Charter)&#9;&nbsp;</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>Same</B><BR>
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</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">Payment of Filing Fee (Check the appropriate box):</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"><FONT STYLE="font: 12pt Wingdings">&#254; </FONT>No fee required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 12pt Wingdings">o </FONT>Fee computed on
table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</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">(1) Title of each class of securities to which transaction applies:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2) Aggregate number of securities to which transaction applies:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3) Per unit price or other underlying value of transaction
computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4) Proposed maximum aggregate value of transaction:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(5) Total fee paid:</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"><FONT STYLE="font: 12pt Wingdings">o </FONT>Fee previously paid
with the preliminary materials:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 12pt Wingdings">o </FONT>Check box if any
part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was
paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</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">(1) Amount Previously Paid:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2) Form, Schedule or Registration Statement No.:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3) Filing Party:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4) Date Filed:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARK RESTAURANTS CORP.</B></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: center"><B>85 Fifth Avenue</B><BR>
<B>New York, New York 10003</B></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: center"><B>NOTICE OF ANNUAL MEETING OF SHAREHOLDERS</B></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: center"><B>To Be Held on March 24, 2015</B></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">To Shareholders of<BR>
ARK RESTAURANTS CORP.</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: 18pt">NOTICE
IS HEREBY GIVEN that the Annual Meeting of Shareholders of Ark Restaurants Corp. (the &ldquo;Company&rdquo;) will be held on March
24, 2015 at 10:00 A.M., New York City time, at Bryant Park Grill, located at 25 West 40<SUP>th</SUP> Street, New York, New York,
for the following purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 4%">(1)</TD>
    <TD STYLE="width: 90%">To elect a board of nine directors;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(2)</TD>
    <TD STYLE="text-align: justify">To ratify the appointment of CohnReznick LLP (&ldquo;Cohn&rdquo;), as independent auditors for the 2015 fiscal year; and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(3)</TD>
    <TD STYLE="font-size: 11pt; text-align: justify"><FONT STYLE="font-size: 11pt">To hold an advisory vote on executive compensation.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(4)</TD>
    <TD STYLE="font-size: 11pt; text-align: justify"><FONT STYLE="font-size: 11pt">To hold an advisory vote on the frequency of the advisory vote on executive compensation; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(5)</TD>
    <TD>To transact such other business as may properly come before the meeting or any adjournments thereof. </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 50pt">The Board of Directors
has fixed the close of business on February 17, 2015, as the record date for the determination of shareholders entitled to notice
of, and to vote at, the meeting. All shareholders are cordially invited to attend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18pt"><B>YOU
ARE REQUESTED, WHETHER OR NOT YOU PLAN TO BE PRESENT AT THE MEETING, TO DATE, SIGN AND RETURN PROMPTLY THE ACCOMPANYING PROXY IN
THE ENCLOSED ENVELOPE TO WHICH NO POSTAGE NEED BE AFFIXED IF MAILED IN THE UNITED STATES. IF YOU ATTEND THE MEETING IN PERSON,
YOU MAY WITHDRAW THE PROXY AND VOTE YOUR OWN SHARES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">By Order of the Board of Directors,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Robert Stewart</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><I>President</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>New York, New York</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>February 28, 2015</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARK RESTAURANTS CORP.</B></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: center"><B>PROXY STATEMENT</B></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: center"><B>ANNUAL MEETING INFORMATION</B></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">This proxy statement contains information
related to the annual meeting of shareholders of Ark Restaurants Corp., a New York corporation (&ldquo;Ark&rdquo; or the &ldquo;Company&rdquo;)
to be held at<B> </B>Bryant Park Grill, located at 25 West 40<SUP>th</SUP> Street, New York, New York, at 10:00 A.M., New York
City time, on March 24, 2015 and at any adjournment or adjournments thereof (the &ldquo;Meeting&rdquo;). This proxy statement was
prepared under the direction of our Board of Directors (the &ldquo;Board of Directors&rdquo; or the &ldquo;Board&rdquo;) to solicit
your proxy for use at the annual meeting. This proxy statement and proxy are being first mailed to shareholders on or about February
28, 2015.</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">Throughout this Proxy Statement, the terms
&ldquo;we,&rdquo; &ldquo;us,&rdquo; &ldquo;our&rdquo; and the &ldquo;Company&rdquo; refer to Ark Restaurants Corp. and, unless
the context indicates otherwise, our subsidiaries on a consolidated basis; and &ldquo;you&rdquo; and &ldquo;your&rdquo; refers
to the shareholders of our Company.</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"><B><I>Important Notice Regarding the Availability of Proxy Materials
for the Annual Meeting to be Held on March 24, 2015.</I></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"><B>This Proxy Statement, the form of proxy and the Company&rsquo;s
Annual Report are available at <I><U>www.cstproxy.com/arkrestaurants/2015</U></I>.</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"><B><I>Who may attend the annual meeting?</I></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">All shareholders of record at the close
of business on February 17, 2015 (the &ldquo;Record Date&rdquo;), or their duly appointed proxies, and our invited guests may attend
the Meeting.</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">If your shares are held in an account at
a brokerage firm, bank, broker-dealer or other similar organization, then you are the beneficial owner of shares held in &ldquo;street
name,&rdquo; and the Notice of Internet Availability was forwarded to you by that organization. The organization holding your account
is considered the stockholder of record for purposes of voting at the Annual Meeting. As a beneficial owner, you have the right
to direct that organization on how to vote the shares held in your account.</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">Shares of common stock held in a stockholder&rsquo;s
name as the stockholder of record may be voted in person at the Annual Meeting. Shares of common stock held beneficially in street
name may be voted in person only if you obtain a legal proxy from the broker, trustee or nominee that holds your shares giving
you the right to vote the shares.</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">Whether you hold shares directly as the
stockholder of record or beneficially in street name, you may direct how your shares are voted without attending the Annual Meeting.
If you are a stockholder of record, you may vote by submitting a proxy electronically via the Internet, by telephone or if you
have requested a paper copy of these proxy materials, by returning the proxy or voting instruction card. If you hold shares beneficially
in street name, you may vote by submitting voting instructions to your broker, trustee or nominee.</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"><B><I>Who may vote?</I></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">You may vote if you owned our common stock
as of the close of business on the Record Date. Each share of your common stock is entitled to one vote on each of the proposals
scheduled for vote at the Meeting. As of the Record Date, there were 3,259,469 shares of common stock outstanding and entitled
to vote at the Meeting.</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"><B><I>What will I be voting on?</I></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">You will be voting on the following:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">&bull;</TD>
    <TD STYLE="width: 92%">The election of nine (9)&nbsp;directors for a term to expire at the next annual meeting of shareholders; </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&bull;</TD>
    <TD>The ratification of the selection of CohnReznick LLP (&ldquo;Cohn&rdquo;) as our independent registered public accounting firm for fiscal 2015</TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">&bull;</TD>
    <TD STYLE="width: 92%">To hold an advisory vote on executive compensation; and </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&bull;</TD>
    <TD>To hold an advisory vote on the frequency of the advisory vote on executive compensation.</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"><B><I>What are the voting recommendations of the Board of Directors?</I></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">The Board of Directors recommends that
you vote your shares &ldquo;FOR&rdquo; each of the nominees named in this proxy statement for election to the Board; &ldquo;FOR&rdquo;
ratification of the selection of Cohn as our independent registered public accounting firm for fiscal 2015, &ldquo;FOR&rdquo; adoption
on advisory vote on executive compensation, &ldquo;FOR&rdquo; Say-On-Pay vote every three years, and in accordance with the proxy
holders best judgment as to any other matters raised at the annual meeting.</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"><B><I>How do I vote?</I></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"><I><B>Return
Your Proxy Card By Mail</B></I><B>:</B> You may vote by completing, signing and returning the enclosed proxy card in the postage-paid
envelope provided with this proxy statement. The proxy holders will vote your shares according to your directions. If you sign
and return your proxy card without specifying choices, your shares will be voted by the persons named in the proxy in accordance
with the recommendations of the Board of Directors as set forth in this proxy statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I><B>Vote
at the Meeting</B></I><B>:</B> You may cast your vote in person at the Meeting. Written ballots will be passed out to anyone who
wants to vote in person at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Even if you plan to attend the meeting,
you are encouraged to vote your shares by proxy. You may still vote your shares in person at the Meeting even if you have previously
voted by proxy. If you are present at the Meeting and desire to vote in person, your vote by proxy will not be used.</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><I>What if I hold my shares in &ldquo;street
name&rdquo;?</I></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">You should follow the voting directions
provided by your broker or nominee. You may complete and mail a voting instruction card to your broker or nominee or, in most cases,
submit voting instructions by telephone or the Internet to your broker or nominee. If you provide specific voting instructions
by mail, telephone or the Internet, your broker or nominee will vote your shares as you have directed.</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"><B><I>Can I change my mind after I vote?</I></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">Yes. If you are a shareholder of record, you may change your
vote or revoke your proxy at any time before it is voted at the Meeting by:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%">&bull;</TD>
    <TD STYLE="width: 92%">signing another proxy card with a later date and returning it to us prior to the Meeting;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&bull;</TD>
    <TD>giving written notice of revocation to Ark Restaurants Corp., Attention: &nbsp;Treasurer, 85 Fifth Avenue, New York, NY 10003; or</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&bull;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">        attending the Meeting and voting in person.
        </TD></TR>
</TABLE>
<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">If you hold your shares in street name,
you may submit new voting instructions by contacting your broker, bank or other nominee. You may also vote in person at the Meeting
if you obtain a legal proxy from your broker, bank or other nominee.</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><I>Who will count the votes?</I></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">A representative of our Transfer Agent
will count the votes and will serve as the independent inspector of elections.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Will my shares be voted if I do not
provide my proxy?</I></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">If you are the shareholder of record and
you do not vote or provide a proxy, your shares will not be voted.</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">Under the rules of various national and
regional securities exchanges, brokers may generally vote on certain, limited &ldquo;routine&rdquo; matters, but cannot vote on
non-routine matters, such as the non-contested election of directors or an amendment to the Articles of Incorporation or the adoption
or amendment of a stock option plan, unless they have received voting instructions from the person for whom they are holding shares.
If your broker does not receive instructions from you on how to vote particular shares on matters on which your broker does not
have discretionary authority to vote, your broker will return the proxy form to us, indicating that he or she does not have the
authority to vote on these matters. This is generally referred to as a &ldquo;broker non-vote&rdquo; and will affect the outcome
of the voting as described below, under &ldquo;What vote is required to approve each proposal?&rdquo; Therefore, we encourage you
to provide directions to your broker as to how you want your shares voted on all matters to be brought before the meeting. You
should do this by carefully following the instructions your broker gives you concerning its procedures. This ensures that your
shares will be voted at the meeting.</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"><B><I>How many votes must be present to hold the meeting?</I></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">A majority of the outstanding shares entitled
to vote at the Meeting, represented in person or by proxy, will constitute a quorum. Shares of common stock represented in person
or by proxy, including shares which abstain or do not vote with respect to one or more of the matters presented for shareholder
approval, will be counted for purposes of determining whether a quorum is present.</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><I>What vote is required to approve
each proposal?</I></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">In accordance with our bylaws, the nominees
for director receiving the highest number of votes cast in person or by proxy at the Meeting (also referred to as a plurality of
the votes cast) will be elected. Broker non-votes will not be counted as entitled to vote, but will count for purposes of determining
whether or not a quorum is present on the matter. The affirmative vote of a majority of the shares represented in person or by
proxy at the annual meeting is required for approval of the proposal to ratify the appointment of Cohn for fiscal 2015. If you
mark your proxy to withhold your vote for a particular nominee on your proxy card, your vote will not count either &ldquo;for&rdquo;
or &ldquo;against&rdquo; the nominee. Therefore, a broker non-vote has no effect on the proposals provided herein to be voted on
at the Meeting. Shares that abstain from voting as to a particular matter will not be counted as votes in favor of such matter,
and also will not be counted as votes cast or shares voting on such matter. Accordingly, abstentions will not be included in vote
totals and will not affect the outcome of the voting for any of the proposals.</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">Because the votes on the non-binding resolution
to approve the compensation of our named executive officers and the frequency of the vote on such compensation are advisory, they
will not be binding on the Board of Directors of the Company. However, the Board will review the voting results and take them into
consideration when making future decisions regarding executive compensation.</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">Our directors, director-nominees and executive
officers own, directly or indirectly, approximately 45% of the voting power entitled to be cast at the Meeting. We anticipate that
these directors and executive officers will cast all of their votes in favor of each of the proposals being considered at the Meeting.
Shareholders are not entitled to dissenter&rsquo;s rights of appraisal with respect to any of the proposals.</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><I>Who will pay for this proxy solicitation?</I></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">We will bear the cost of preparing, assembling
and mailing the proxy material and of reimbursing brokers, nominees, fiduciaries and other custodians for out-of-pocket and clerical
expenses of transmitting copies of the proxy material to the beneficial owners of our shares. A few of our officers and employees
may participate in the solicitation of proxies without additional compensation.</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><I>Will any other matters be voted on
at the Meeting?</I></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">As of the date of this proxy statement,
our management knows of no other matter that will be presented for consideration at the Meeting other than those matters discussed
in this proxy statement. If any other matters properly come before the Meeting and call for a vote of shareholders, validly executed
proxies in the enclosed form returned to us will be voted in accordance with the</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">recommendation of the Board of Directors,
or, in the absence of such a recommendation, in accordance with the judgment of the proxy holders.</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><I>What are the deadlines for stockholder
proposals for next year&rsquo;s Meeting?</I></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">Stockholders may submit proposals on matters
appropriate for stockholder action at future annual meetings by following the rules of the Securities and Exchange Commission.
Proposals intended for inclusion in next year&rsquo;s proxy statement and proxy card must be received by not later than October
30, 2015. All proposals and notifications should be addressed to Ark Restaurants Corp., Attention: Treasurer, 85 Fifth Avenue,
New York, NY 10003. Any such shareholder proposal must comply with the requirements of Rule 14a-8 promulgated under the Securities
Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;).</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"><B><I>Where can I find the voting results?</I></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">The preliminary voting results will be announced at the Meeting.
The final results will be published in a current report on Form 8-K filed within four (4) business days after the Meeting.</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"><B><I>What is the Company&rsquo;s website address?</I></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">Our website address is <I><U>www.arkrestaurants.com.</U></I>
We make this proxy statement, our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments
to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act available on our website in the About
Ark &#8211; Investors &#8211; SEC Filings section, as soon as reasonably practicable after electronically filing such material
with the United States Securities and Exchange Commission (&ldquo;SEC&rdquo;).</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">This information is also available free
of charge at the SEC&rsquo;s website located at <I><U>www.sec.gov.</U></I> Shareholders may also read and copy any reports, statements
and other information filed by us with the SEC at the SEC public reference room at 100 F Street, N.E., Room 1580, Washington, D.C.
20549. Please call the SEC at 1-800-SEC-0330 or visit the SEC&rsquo;s website for further information on its public reference room.</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">The references to our website address and
the SEC&rsquo;s website address do not constitute incorporation by reference of the information contained in these websites and
should not be considered part of this document.</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: center"><B>CORPORATE GOVERNANCE; DIRECTOR AND COMMITTEE
INFORMATION</B></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"><B><I>Corporate Governance</I></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">We seek to follow best practices in corporate
governance in a manner that is in the best interests of our business and stockholders. Our current corporate governance principles,
including the Code of Ethics and the charters of each of the Audit Committee and Nominating and Governance Committee are all available
under About Ark &#8211; Investors &#8211;Corporate Governance on our website at www.arkrestaurants.com. We are in compliance with
the corporate governance requirements imposed by the Sarbanes-Oxley Act, the Securities and Exchange Commission and the NASDAQ
Marketplace Rules. We will continue to modify our policies and practices to meet ongoing developments in this area. Aspects of
our corporate governance principles are discussed throughout this Proxy Statement.</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><I>Director Independence</I></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">The Board has determined that each of the
following directors is an &ldquo;independent director&rdquo; as such term is defined in NASDAQ Marketplace Rule 4200(a)(15): Bruce
R. Lewin, Marcia Allen, Steven Shulman, Arthur Stainman and Stephen Novick. The Company does not utilize any other definition or
criteria for determining the independence of a director or nominee, and no other transactions, relationships, or other arrangements
exist to the Board&rsquo;s knowledge or were considered by the Board, other than as may be discussed herein, in determining any
such director&rsquo;s or nominee&rsquo;s independence.</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><I>Board and Committee Meeting Attendance</I></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">During the past fiscal year, the Board
held eight meetings, including four telephone meetings. Each member of the Board attended at</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">least 75% of the meetings of the Board
and committees on which he or she served. Independent directors met twice last year without management present.</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><I>Board Committees</I></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">The Board has delegated various responsibilities
and authority to different Board committees. The Board has three standing committees: the Compensation Committee, the Audit Committee
and the Nominating and Corporate Governance Committee. The Board has appointed only independent directors to such committees. The
members of each committee are appointed by the Board and serve one year terms. Committees regularly report on their activities
and actions to the full Board of Directors. Each committee has a written charter adopted by the Board of Directors under which
it operates.</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"><B><I>Compensation Committee</I></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">Ms. Allen (Chairperson) and Messrs. Shulman
and Stainman currently serve as members of the Compensation Committee of the Board. The Compensation Committee (i) oversees and
sets the compensation and benefits arrangements of our Chief Executive Officer and certain other executives; (ii) provides a general
review of, and makes recommendations to, the Board of Directors or to our shareholders with respect to our cash-based and equity-based
compensation plans; and (iii) implements, administers, operates and interprets our equity-based and similar compensation plans
to the extent provided under the terms of such plans. The Compensation Committee has the authority to make decisions respecting
CEO and executive officer compensation matters, including employment and severance contracts, salary, compensation awards and bonuses,
among other things, and has the right to retain and terminate compensation consultants, legal counsel and other advisors to assist
the committee with its functions. The Committee may delegate authority to subcommittees of the Compensation Committee or to executive
officers (with respect to compensation determinations for non-executive officers), as well as delegate authority to the Company&rsquo;s
CEO to approve options to employees (who are not directors or executive officers) of the Company or of any subsidiary of the Company,
subject to certain quantity, time and price limitations.</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">The Board of Directors adopted a written
charter under which the Compensation Committee operates. The Board of Directors reviews and assesses the adequacy of the charter
of the Compensation Committee on an annual basis.</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">The Compensation Committee held three meetings
in fiscal 2014.</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><I>Audit Committee</I></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">Messrs. Lewin (Chairperson) and Stainman
and Ms. Allen currently serve as members of the Audit Committee of the Board of Directors. The Audit Committee is responsible for,
among other things, engaging the independent auditors, receiving and reviewing the recommendations of the independent auditors,
reviewing consolidated financial statements of the Company, meeting periodically with the independent auditors and Company personnel
with respect to the adequacy of internal accounting controls, resolving potential conflicts of interest and reviewing Company&rsquo;s
accounting policies.</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">The Board of Directors has determined that
all of the members of the Audit Committee meet the independence criteria for audit committees and have the qualifications set forth
in the listing standards of NASDAQ and Rule 10A-3 under the Exchange Act. The Board of Directors has also designated Ms. Allen
as an audit committee financial expert within the meaning of Item 401(h) of Regulation S-K under the Exchange Act and the Board
of Directors has determined that she has the financial sophistication required under the listing standards of NASDAQ.</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">The Board of Directors adopted a written
charter under which the Audit Committee operates. The Board of Directors reviews and assesses the adequacy of the charter of the
Audit Committee on an annual basis.</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">The Audit Committee held four meetings
during fiscal 2014.</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><I>Nominating and Corporate Governance
Committee</I></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">Messrs. Novick (Chairperson), Stainman
and Lewin currently serve as members of the Nominating and Corporate Governance Committee of the Board. The Board of Directors
adopted a written charter under which the Nominating and Corporate Governance Committee operates. The Nominating and Corporate
Governance Committee approved the nomination of the candidates reflected in</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Proposal One, which candidates were approved
by the Board of Directors.</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">The duties of the Nominating and Corporate
Governance Committee are to recommend to the Board nominees to the Board of Directors and its standing committees. Although the
Nominating and Corporate Governance Committee has not established minimum qualifications for director candidates, it will consider,
among other factors:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="color: black">&bull;</FONT></TD>
    <TD STYLE="width: 92%"><FONT STYLE="color: black">Judgment</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: black">&bull;</FONT></TD>
    <TD><FONT STYLE="color: black">Skill</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: black">&bull;</FONT></TD>
    <TD><FONT STYLE="color: black">Diversity</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&bull;</TD>
    <TD><FONT STYLE="color: black">Experience with businesses and other organizations of comparable size</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: black">&bull;</FONT></TD>
    <TD><FONT STYLE="color: black">The interplay of the candidate&rsquo;s experience with the experience of other Board members</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: black">&bull;</FONT></TD>
    <TD><FONT STYLE="color: black">The extent to which the candidate would be a desirable addition to the Board and any committees of the Board</FONT></TD></TR>
</TABLE>
<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">The Nominating and Corporate Governance
Committee will consider all director candidates recommended by stockholders. Any stockholder who desires to recommend a director
candidate may do so in writing, giving each recommended candidate&rsquo;s name, biographical data and qualifications, by mail addressed
to the Chairman of the Nominating and Corporate Governance Committee, in care of Ark Restaurants Corp., 85 Fifth Avenue, New York,
New York 10003. Members of the Nominating and Corporate Governance Committee will assess potential candidates on a regular basis.</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">The Nominating and Corporate Governance
Committee held one meeting fiscal 2014.</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">There are no family relationships among
any of the directors or executive officers (or any nominee therefor) of the Company, and no arrangements or understandings exist
between any director or nominee and any other person pursuant to which such director or nominee was or is to be selected with respect
to the election of directors. No director or executive officer (or any nominee therefor or any associate thereof) has any substantial
interest, direct or indirect, by security holdings or otherwise, in any proposal or matter to be acted upon at the Meeting (other
than the election of directors). There are no events or legal proceedings material to an evaluation of the ability or integrity
of any director or executive officer, or any nominee therefor, of the Company. Moreover, no director or executive officer of the
Company, nor any nominee, is a party adverse to the Company or has a material interest adverse to the Company in any legal proceeding.</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>Stockholder Communications</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">The Board welcomes communications from
stockholders, which may be sent to the entire Board at the principal business address of the Company, Ark Restaurants Corp., 85
Fifth Avenue, New York, New York 10003, Attn: Corporate Secretary. Security holder communications are initially screened to determine
whether they will be relayed to Board members. Once the decision has been made to relay such communications to Board members, the
Secretary will release the communication to the Board on the next business day. Communications that are clearly of a marketing
nature, or which are unduly hostile, threatening, illegal or similarly inappropriate will be discarded and, if warranted, subject
to appropriate legal action.</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">Recognizing that director attendance at
the Company&rsquo;s annual meetings of stockholders can provide stockholders with an opportunity to communicate with members of
the Board of Directors, it is the policy of the Board of Directors to encourage, but not require, the members of the Board to attend
such meetings.</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: center"><B>PROPOSAL 1: ELECTION OF DIRECTORS</B></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">Our Amended and Restated Certificate of
Incorporation provides that the number of directors constituting the Board of Directors shall not be fewer than three nor more
than 15, with the exact number to be fixed by a resolution adopted by the affirmative vote of a majority of the Board. The Board
of Directors has fixed the number of directors at nine. The term of office of each director is one year, commencing at this annual
meeting and ending at the annual meeting of shareholders to be held in 2016. Each director elected</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">will continue in office until he resigns
or until a successor has been elected and qualified. Stockholders cannot vote or submit proxies for a greater number of persons
than the nine nominees named in this Proposal One.</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">Each of the nominees named below is at
present a director of the Company and has consented to serve if elected. If any nominee should be unable to serve or will not
serve for any reason, the persons designated on the accompanying form of proxy will vote in accordance with their judgment. We
know of no reason why the nominees would not be able to serve if elected.</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">The following is a brief account of the
business experience during the past five years of each of the Company&rsquo;s directors and executive officers, including principal
occupations and employment during that period and the name and principal business of any corporation or other organization in
which such occupation and employment was carried on.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-left: 10pt; text-align: center; text-indent: -10pt; font-family: Times New Roman, Times, Serif; width: 17%; vertical-align: bottom"><B><U>Name</U></B></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; width: 8%">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; width: 8%; vertical-align: bottom"><B><U>Age</U></B></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; width: 8%">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; width: 45%"><B><U>Principal Occupation and Position with the</U></B><BR>
    <B><U>&nbsp;Company</U></B></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; width: 8%">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; width: 6%; vertical-align: bottom"><B><U>Director</U></B><BR>
    <B><U>&nbsp;Since</U></B></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; font-family: Times New Roman, Times, Serif; text-align: left; vertical-align: top">Michael Weinstein</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">71</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">Chairman of the Board and Chief Executive Officer of the Company</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">1983</TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; font-family: Times New Roman, Times, Serif; text-align: left; vertical-align: top">Robert Stewart</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">58</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">President, Chief Financial Officer and Treasurer of the Company</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">2012</TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; font-family: Times New Roman, Times, Serif; text-align: left; vertical-align: top">Vincent Pascal</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">71</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">Chief Operating Officer and Senior Vice President of the Company</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">1985</TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; font-family: Times New Roman, Times, Serif; text-align: left; vertical-align: top">Paul Gordon</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">63</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">Senior Vice President of the Company</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">1996</TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; font-family: Times New Roman, Times, Serif; text-align: left; vertical-align: top">Marcia Allen</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">64</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">Chief Executive Officer, Allen &amp; Associates</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">2003</TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; font-family: Times New Roman, Times, Serif; text-align: left; vertical-align: top">Bruce R. Lewin</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">67</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">Chairman and President, Continental Hosts, Ltd.</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">2000</TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; font-family: Times New Roman, Times, Serif; text-align: left; vertical-align: top">Steven Shulman</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">73</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">Managing Director, Hampton Group Inc.</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">2003</TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; font-family: Times New Roman, Times, Serif; text-align: left; vertical-align: top">Arthur Stainman</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">72</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">Senior Managing Director, First Manhattan Co.</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">2004</TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; font-family: Times New Roman, Times, Serif; text-align: left; vertical-align: top">Stephen Novick</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">74</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">Senior Advisor, Andrea and Charles Bronfman Philanthropies</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif; vertical-align: top">2005</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Biographical Information</I></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"><B><I>Michael Weinstein
</I></B>has been our Chief Executive Officer and a director since our inception in January 1983, was elected Chairman in 2004
and was President of the Company from January 1983 to September 2007. Mr. Weinstein is also the President of each of our subsidiaries.
Mr. Weinstein is an officer, director and 29.67% shareholder of RSWB Corp. and a director and 28% owner of BSWR Corp. (since 1998).
Mr. Weinstein is also the owner of 30.67% of the membership interests in New Docks LLC. Collectively, these companies operate
three restaurants in New York City, and none of these companies is a parent, subsidiary or other affiliate of us. Mr. Weinstein
spends substantially all of his business time on Company-related matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Robert Stewart
</I></B>has been employed by us since June 2002, was elected Chief Financial Officer effective as of June 24, 2002 and was elected
to the Board of Directors in March 2012 and was elected President in December 2013. For the three years prior to joining us, Mr.
Stewart was a Chief Financial Officer and Executive Vice President at Fortis Capital Holdings. For eleven years prior to joining
Fortis Capital Holdings, Mr. Stewart held senior financial and audit positions in Skandinaviska Enskilda Banken in their New York,
London and Stockholm offices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Vincent Pascal
</I></B>has been employed by us since 1983 and was elected Vice President, Assistant Secretary and a director in 1985. Mr. Pascal
became a Senior Vice President in 2001 and Chief Operating Officer in 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Paul Gordon
</I></B>has been employed by us since 1983 and was elected as a director in November 1996 and a Senior Vice President in April
2001. Mr. Gordon is the manager of our Las Vegas operations, and is a Senior Vice President of each of the Company&rsquo;s Las
Vegas, Nevada subsidiaries. Prior to assuming that role in 1996, Mr. Gordon was the manager of the Company&rsquo;s operations
in Washington, D.C. commencing in 1989.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Marcia Allen
</I></B>was elected a director of the Company in 2003. Since 2008, Ms. Allen has been the Chief Executive Officer of Allen &amp;
Associates Inc., a business and acquisition consulting firm. Also, from December 2001 to August 2002 Ms. Allen served as President
and a member of the board of directors of Accesspoint Inc.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Bruce R. Lewin
</I></B>was elected a director of the Company in February 2000. Mr. Lewin has been the President and a director of Continental
Hosts, Ltd since August 2001. He was also a founder and board member of Fuze Beverage, LLC. Mr. Lewin was formerly a director
of the Bank of Great Neck (in New York), and a former director of the New York City Chapter of the New York State Restaurant Association.
He has been owner and President of Bruce R. Lewin Fine Art since 1985.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Steven Shulman
</I></B>was elected a director of the Company in December 2003. During the past five years, Mr. Shulman has been the managing
director of Hampton Group, a company engaged in the business of making private investments. Mr. Shulman also serves as a director
of various private companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Arthur Stainman
</I></B>was elected a director of the Company in 2004. Mr. Stainman is a senior managing director of First Manhattan Co. of New
York City, a money management firm, and has over twenty years&rsquo; experience managing money for high net worth individuals.
Mr. Stainman is a Trustee of Rider University and sits on the board of several New York based non-profits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Stephen Novick
</I></B>was elected a director of the Company in 2005. Mr. Novick serves as Senior Advisor for the Andrea and Charles Bronfman
Philanthropies, a private family foundation. From 1990 to 2004, Mr. Novick served as Chief Creative Officer of Grey Global Group,
an advertising agency. Mr. Novick continues to serve as a consultant for Grey Global Group. He also serves as a member of the
Board of Directors of Toll Brothers, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE BOARD OF DIRECTORS RECOMMENDS A
VOTE &ldquo;FOR&rdquo; THE ELECTION OF EACH NAMED NOMINEE.</B></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: center"><B>PROPOSAL 2: </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RATIFICATION OF APPOINTMENT OF INDEPENDENT
AUDITORS</B></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">The Audit Committee has recommended, and
the Board of Directors has approved, the appointment of Cohn, an independent registered public accounting firm, to audit our financial
statements for the 2015 fiscal year. A representative of Cohn is expected to attend the Meeting and will have an opportunity to
make a statement if he or she so desires. He or she will also be available to respond to appropriate questions from our shareholders.
For additional information regarding our relationship with Cohn, please see the &ldquo;Audit Committee Report&rdquo; below.</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">Although it is not required to submit
this proposal to the shareholders for approval, the Board believes it is desirable that an expression of shareholder opinion be
solicited and presents the selection of the independent registered public accounting firm to the shareholders for ratification.
If the selection of Cohn is not ratified by shareholders, the Board of Directors will take that into consideration but does not
intend to engage another firm. Even if the selection of Cohn is ratified by the shareholders, the Audit Committee in its discretion
could decide to terminate the engagement of Cohn and engage another firm if the committee determines that this is necessary or
desirable.</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: center"><B>THE BOARD RECOMMENDS THAT YOU VOTE &ldquo;FOR&rdquo;
RATIFICATION OF THE APPOINTMENT<BR>
OF COHNREZNICK LLP AS INDEPENDENT AUDITORS FOR THE COMPANY.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AUDIT COMMITTEE REPORT</B></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">The following report is not deemed to
be &ldquo;soliciting material&rdquo; or to be &ldquo;filed&rdquo; with the SEC or subject to the SEC&rsquo;s proxy rules or to
the liabilities of Section 18 of the Exchange Act and the report shall not be deemed to be incorporated by reference into any
prior or subsequent filing by the Company under the Securities Act of 1933 or the Exchange Act.</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">The Audit Committee evidenced its completion
of and compliance with the duties and responsibilities set forth in the adopted Audit Committee Charter through a formal written
report dated and executed as of December 16, 2014. A copy of that report is set forth below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">December 16, 2014</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">The Board of Directors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ark Restaurants Corp.</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">Fellow Directors:</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">The primary purpose of the Audit Committee
is to assist the Board of Directors in its general oversight of the Corporation&rsquo;s financial reporting process. The Audit
Committee conducted its oversight activities for Ark Restaurants Corp. and subsidiaries (&ldquo;Ark&rdquo;) in accordance with
the duties and responsibilities outlined in the audit committee charter. The Audit Committee annually reviews the NASDAQ standard
of independence for audit committees and its most recent review determined that the committee meets that standard.</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">Ark management is responsible for the
preparation, consistency, integrity and fair presentation of the financial statements, accounting and financial reporting principles,
systems of internal control, and procedures designed to ensure compliance with accounting standards, applicable laws, and regulations.
The Corporation&rsquo;s independent auditors, CohnReznick LLP, are responsible for performing an independent audit of the financial
statements and expressing an opinion on the conformity of those financial statements with accounting principles generally accepted
in the Unites States of America.</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">The Audit Committee, with the assistance
and support of the Chief Financial Officer of Ark, has fulfilled its objectives, duties and responsibilities as stipulated in
the audit committee charter and has provided adequate and appropriate independent oversight and monitoring of Ark&rsquo;s systems
of internal control for the fiscal year ended September 27, 2014.</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">These activities included, but were not
limited to, the following significant accomplishments during the fiscal year ended September 27, 2014:</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-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reviewed and discussed the audited financial statements with management and the external auditors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Received written disclosures and letter from the external auditors required by Independence Standards Board Standard No. 1, and discussed with the auditors their independence.</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">In reliance on the Committee&rsquo;s review
and discussions of the matters referred to above, the Audit Committee recommends the audited financial statements be included
in Ark&rsquo;s Annual Report on Form 10-K for the fiscal year ended September 27, 2014, for filing with the Securities and Exchange
Commission.</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">Respectfully submitted,</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">Ark Restaurants Corp. Audit Committee</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">Bruce R. Lewin, Arthur Stainman and Marcia
Allen</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: center"><B>AUDIT FEES AND SERVICES</B></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">During fiscal 2013 and 2014, Cohn served
as our independent auditors. The following table presents fees for professional audit services rendered by Cohn for the audit
of our annual financial statements for the years ended September 28, 2013 and September 27, 2014, and fees for other services
rendered by Cohn during those periods.</P>

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    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-bottom: 1px">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1px">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1px solid">2013</TD><TD STYLE="font-weight: bold; text-align: center; padding-bottom: 1px">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1px solid">2014</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="width: 37%; text-align: left; text-indent: -10pt; padding-left: 10pt">Audit Fees</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: right"></TD>
    <TD STYLE="width: 1%">$</TD><TD STYLE="width: 10%; text-align: right">235,283</TD><TD STYLE="width: 5%; text-align: left">&nbsp;</TD><TD STYLE="width: 20%">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: right"></TD>
    <TD STYLE="width: 1%">$</TD><TD STYLE="width: 10%; text-align: right">260,345</TD><TD STYLE="width: 5%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Audit Related Fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: right">69,198</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: right">35,150</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Tax Fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; padding-right: 10pt">-</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt; padding-bottom: 1px">All Other Fees</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; padding-right: 10pt; border-bottom: Black 1px solid">-</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; padding-bottom: 1px">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1px solid">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; padding-right: 10pt; border-bottom: Black 1px solid">-</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1px">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; padding-bottom: 3px">Total</TD><TD STYLE="padding-bottom: 3px">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-bottom: 3px"></TD>
    <TD STYLE="border-bottom: Black 3px double">$</TD><TD STYLE="text-align: right; border-bottom: Black 3px double">304,481</TD><TD STYLE="text-align: left; padding-bottom: 3px">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 3px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; padding-bottom: 3px"></TD>
    <TD STYLE="border-bottom: Black 3px double">$</TD><TD STYLE="border-bottom: Black 3px double; text-align: right">295,495</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 3px">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Audit Fees.
</I></B>Annual audit fees relate to services rendered in connection with the audit of our consolidated annual financial statements
included in our Form 10-K and the quarterly reviews of financial statements included in our Forms 10-Q.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Audit Related
Fees.</I></B> Audit related services include fees for SEC registration statement services, benefit plan audits, consultation on
accounting standards or transactions, statutory audits, business acquisitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Tax Fees.</I></B>
Tax services include fees for tax compliance, tax advice and tax planning.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>All Other Fees</I></B>:
Includes other fees or expenses billed for other services not described above rendered to the Company by Cohn during fiscal year
2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Audit Committee considers whether
the provision of these services is compatible with maintaining the auditor&rsquo;s independence, and has determined such services
for fiscal 2013 and 2014 were compatible.</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">We have been advised by Cohn that neither
the firm, nor any member of the firm, has any financial interest, direct or indirect, in any capacity in the Company or its subsidiaries.</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><I>Policy on Audit Committee Pre-Approval
of Audit and Non-Audit Services of Independent Auditor</I></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">The Audit Committee is responsible for
appointing, setting compensation and overseeing the work of the independent auditor. The Audit Committee has established a policy
regarding pre-approval of all audit and non-audit services provided by the independent auditor, as follows: on an ongoing basis,
management communicates specific projects and categories of service for which the advance approval of the Audit Committee is requested,
and the Audit Committee reviews these requests and advises management if the Committee approves the engagement of the independent
auditor. On a periodic basis, management reports to the Audit Committee regarding the actual spending for such projects and services
compared to the approved amounts. All audit-related fees, tax fees and all other fees were approved by the Audit Committee. The
projects and categories of service are as follows:</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; text-indent: 0.5in"><B><I>Audit</I></B>&mdash;Annual
audit fees relate to services rendered in connection with the audit of our consolidated financial statements included in our Form
10-K and the quarterly reviews of financial statements included in our Forms 10-Q.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Audit Related
Services</I></B>&mdash;Audit related services include fees for SEC registration statement services, benefit plan audits, consultation
on accounting standards or transactions, statutory audits, business acquisitions and assessment of risk management controls in
connection with the implementation of Section 404 of the Sarbanes-Oxley Act of 2002.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Tax</I></B>&mdash;Tax
services include fees for tax compliance, tax advice and tax planning.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>All Other</I></B>&mdash;fees
for all other services provided by Cohn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXECUTIVE COMPENSATION</B></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">The following table shows information
concerning all compensation paid for services to the Company in all capacities during the</P>

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    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">fiscal years ended September 28, 2013
and September 27. 2014, as to the Chief Executive Officer (its &ldquo;principal executive officer&rdquo; or &ldquo;PEO&rdquo;)
and each of the other two most highly compensated executive officers of the Company who served in such capacity at the end of
the last two fiscal years (the &ldquo;Named Executive Officers&rdquo; or &ldquo;NEOs&rdquo;):</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: center"><B>SUMMARY COMPENSATION TABLE</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center">Name and Principal<BR> Position(s)</TD><TD STYLE="font-weight: bold; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic; text-align: center">Year</TD><TD STYLE="font-weight: bold; font-style: italic; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center"><B><I>Salary</I></B><BR> <B><I>($)</I></B></TD><TD STYLE="font-weight: bold; font-style: italic; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center"><B><I>Bonus</I></B><BR> <B><I>($)</I></B></TD><TD STYLE="font-weight: bold; font-style: italic; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center"><B><I>Option</I></B><BR> <B><I>Award</I></B><BR> <B><I>($)</I></B></TD><TD STYLE="font-weight: bold; font-style: italic; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center"><B><I>All Other</I></B><BR> <B><I>Compensation</I></B><BR> <B><I>($)</I></B></TD><TD STYLE="font-weight: bold; font-style: italic; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; font-style: italic; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; text-align: center"><B><I>Total</I></B><BR> <B><I>($)</I></B></TD><TD STYLE="font-weight: bold; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 11.4pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="width: 29%; text-align: left">Michael Weinstein</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right; text-indent: 11.4pt">2014</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">987,397</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">90,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">86,149</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right; padding-right: 10pt">-</TD><TD STYLE="width: 3%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right"> &nbsp;1,163,546</TD><TD STYLE="width: 3%; text-align: right"><SUP>(1)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 5.35pt">Chief Executive Officer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 11.4pt">2013</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">959,218</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">70,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,029,218</TD><TD STYLE="text-align: right"><SUP>(1)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left">Vincent Pascal</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 5.35pt">Senior Vice President and</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 11.4pt">2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">434,777</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">86,149</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">570,926</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; text-indent: 5.35pt">Chief Operating Officer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 11.4pt">2013</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">421,876</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">42,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">463,876</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 11.4pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Paul Gordon</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 11.4pt">2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">372,048</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">86,149</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"> 84,067</TD><TD STYLE="text-align: right"><SUP>(2)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">592,264</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; text-indent: 5.35pt">Senior Vice President</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 11.4pt">2013</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">361,212</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">42,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"> 86,887</TD><TD STYLE="text-align: right"><SUP>(2)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">490,099</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1px solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 3%">(1)</TD>
    <TD STYLE="width: 93%; text-align: justify">Under Section 162(m) of the Internal Revenue Code, a publicly-held corporation
    cannot deduct the compensation of certain executives exceeding $1,000,000 in any taxable year, unless the compensation is
    performance-based. With respect to Mr. Weinstein&rsquo;s compensation that is subject to the Section 162(m) deductibility
    limitations, the Compensation Committee used its judgment to authorize payments that do not comply with the exemptions in
    Section 162(m) as it believed that such payment was appropriate and in the best interest of the stockholders, after taking
    into consideration the executive&rsquo;s individual performance and responsibilities.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(2)</TD>
    <TD STYLE="text-align: justify">1% of operating profits of the Las Vegas operations as commissions.</TD></TR>
</TABLE>

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    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OUTSTANDING EQUITY AWARDS AT FISCAL
YEAR-END</B></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">The following table provides information on the holdings of
stock options by the CEO and NEOs as of September 27, 2014.</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%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 3px">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="text-align: center; border-bottom: Black 1px solid"><B>Option Awards</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center">(a)</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">(b)</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">(c)</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">(e)</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">(f)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1px solid">Name</TD><TD STYLE="font-weight: bold; padding-bottom: 3px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Number of<BR> Securities<BR> Underlying<BR> Unexercised<BR> Options (#)<BR> Exercisable</TD><TD STYLE="padding-bottom: 3px; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 3px">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Number of<BR> Securities<BR> Underlying<BR> Unexercised<BR> Options (#)<BR> Unexercisable</TD><TD STYLE="padding-bottom: 3px; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 3px">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Option Exercise<BR> Price<BR> ($)</TD><TD STYLE="font-weight: bold; padding-bottom: 3px">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Option<BR> Expiration<BR> Date</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right; padding-right: 10pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="width: 37%; text-align: left">Michael Weinstein</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">25,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right; padding-right: 10pt">-</TD><TD STYLE="width: 3%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: right">$</TD><TD STYLE="width: 8%; text-align: right">32.15</TD><TD STYLE="width: 3%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">12/18/16</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 4.6pt">Chief Executive Officer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">12.04</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">05/06/19</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">14.40</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">06/12/22</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,375</TD><TD STYLE="text-align: right">(1)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">22.50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">06/09/24</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right; padding-right: 10pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left">Vincent Pascal</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">32.15</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">12/18/16</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 4.6pt">Senior Vice President and</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">12.04</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">05/06/19</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; text-indent: 4.6pt">Chief Operating Officer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">14.40</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">06/12/22</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,375</TD><TD STYLE="text-align: right">(1)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">22.50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">06/09/24</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right; padding-right: 10pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left">Paul Gordon</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">32.15</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">12/18/16</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 4.6pt">Senior Vice President</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">12.04</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">05/06/19</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">14.40</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">06/12/22</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right; padding-right: 10pt">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,375</TD><TD STYLE="text-align: right">(1)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">22.50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">06/09/24</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="width: 4%; font: 8pt Times New Roman, Times, Serif">(1)</TD>
    <TD STYLE="width: 96%; font: 8pt Times New Roman, Times, Serif">Each of these options shall vest as follows: (i) 50% on June 9, 2015 and (ii) 50% on
    June 9, 2016.</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DIRECTOR COMPENSATION</B></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">The Company uses cash compensation and
equity-based incentive compensation to attract and retain qualified candidates to serve as directors. In setting director compensation,
the Company considers the significant amount of time that directors expend in fulfilling their duties to the Company as well as
the skill level required by the Company of directors.</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><I>Compensation Paid to Directors in
2014</I></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">In fiscal 2014, the Company paid a fee
of $26,000 to each director who was not an officer of the Company. Directors who are also full-time employees of the Company did
not receive any director fees. In addition, the independent director who serves as chairman of the Audit Committee of the Board
receives an annual retainer fee of $15,000. The independent directors who serve on the Audit, Compensation and Nominating and
Corporate Governance Committees, respectively, including the chairman of the Audit Committee, receive $1,200 for each meeting
that they attended. Each member of the Board receives an additional $1,200 for each Board meeting that they attended in excess
of one per quarter, plus an additional $1,200 if such additional Board meeting attended exceeds four hours. The Company reimburses
directors for out-of-pocket expenses incurred in connection with attending Board of Director and committee meetings.</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><I>Director Compensation Table </I></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">The following table summarizes the compensation
earned by or paid to the Company&rsquo;s non-employee directors from the Company for the year ended September 27, 2014.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1px solid">Name</TD><TD STYLE="font-weight: bold; padding-bottom: 3px">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Fees<BR> Earned or<BR> Paid in Cash<BR> ($)</TD><TD STYLE="font-weight: bold; padding-bottom: 3px">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1px solid">Option<BR> Awards<BR> ($)</TD><TD STYLE="font-weight: bold; padding-bottom: 3px">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; border-bottom: Black 1px solid; text-align: center">Total</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-left: 0.75pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="width: 51%; text-align: left; padding-left: 0.75pt">Bruce Lewin (1)</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: right">$</TD><TD STYLE="width: 10%; text-align: right">45,800</TD><TD STYLE="width: 3%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: right">$</TD><TD STYLE="width: 8%; text-align: right">20,152</TD><TD STYLE="width: 2%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: right">$</TD><TD STYLE="width: 8%; text-align: right">65,952</TD><TD STYLE="width: 2%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.75pt">Steven Shulman (1) (2)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">28,400</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">20,152</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">48,552</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-left: 0.75pt">Marcia Allen (1) (2)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">33,200</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">20,152</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">53,352</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.75pt">Arthur Stainman (1)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">33,200</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">20,152</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">53,352</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(229,255,255)">
    <TD STYLE="text-align: left; padding-left: 0.75pt">Stephen Novick (1) (2)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">26,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">20,152</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">$</TD><TD STYLE="text-align: right">46,152</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 8pt">(1)</TD>
    <TD STYLE="width: 93%">Each director has 5,000 currently exercisable options at an exercise price of $32.15 per share.&nbsp;&nbsp;In
    addition, each director has 5,000 currently unexercisable options at an exercise price of $22.50 per share.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">(2)</TD>
    <TD>Currently has 3,500 currently exercisable options at an exercise price of $12.04 per share and 5,000 currently exercisable
    options at an exercise price of $14.40 per share</TD></TR>
</TABLE>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL NO. 3</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Advisory Vote on Executive Compensation</B></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">The Company is providing its shareholders
with the opportunity to cast an advisory vote on executive compensation as described below.&nbsp;&nbsp;We believe that it is appropriate
to seek the views of shareholders on the design and effectiveness of the Company&rsquo;s executive compensation program.</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">Our overall goal for the executive compensation
program is to attract, motivate, and retain a talented and creative team of executives who will provide leadership for our success
in very competitive markets in a competitive industry.&nbsp;&nbsp;The Company seeks to accomplish this goal in a way that rewards
performance and that is aligned with shareholders&rsquo; long-term interests.&nbsp;&nbsp;We believe that our executive compensation
program, which utilizes both short-term and long-term cash awards and long term equity awards, satisfies this goal and is strongly
aligned with the long-term interest of our shareholders. We believe that the compensation program for the Named Executive Officers
is instrumental in helping the Company achieve strong financial performance.&nbsp;&nbsp;</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>The Company requests shareholder approval
of the compensation of the Company&rsquo;s Named Executive Officers as disclosed pursuant to the Securities and Exchange Commission&rsquo;s
compensation rules (which include the narrative disclosures that accompany the compensation tables).</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">As an advisory vote, this proposal is not
binding upon the Company.&nbsp;&nbsp;However, the Compensation Committee, which is responsible for designing and administering
our executive compensation program, values the opinions expressed by shareholders in their vote on this proposal and will consider
the outcome of the vote when making future compensation decisions for the Named Executive Officers.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Vote Required</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">Approval of Proposal No. 3 requires that
the number of votes cast in favor of the proposal exceeds the number of votes cast in opposition.&nbsp;&nbsp;Abstentions and broker
non-votes will not affect the outcome of this proposal.</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>THE BOARD RECOMMENDS THAT THE COMPENSATION
PAID TO THE COMPANY&rsquo;S NAMED EXECUTIVE OFFICERS, AS DISCLOSED PURSUANT TO ITEM 402 OF REGULATION S-K IS HEREBY APPROVED.</B></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL NO. 4</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Advisory Vote on the Frequency of Say-on-Pay
Votes</B></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">The Company is providing shareholders an
advisory vote to approve how often the Company votes on executive compensation as required by Section 14A of the Exchange Act.
Section 14A was added to the Exchange Act by Section 951 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the
&ldquo;Dodd-Frank Act&rdquo;). The advisory vote to approve executive compensation is not a vote on the Company&rsquo;s general
compensation policies or the compensation of the Company&rsquo;s Board of Directors. The Dodd-Frank Act requires the Company to
hold the advisory vote to approve executive compensation at least once every three years.&nbsp;&nbsp; We believe that our compensation
policies and procedures align with the Company&rsquo;s strategic objectives and&nbsp;the long-term interests of our shareholders.&nbsp;&nbsp;Our
compensation program is guided by the philosophy that total executive compensation should vary based on achievement of goals and
objectives, both individual and corporate, and should be focused on long-term strategies to build stockholder value.&nbsp;&nbsp;
We believe that our philosophy and practices have resulted in executive compensation decisions that are appropriate and that have
benefited the Company over time.</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">The Compensation Committee will generate
an executive compensation program, which is intended to reward named executive officers for sustaining our financial and operating
performance and leadership excellence, along with the limited use of executive perquisites and reasonable severance pay multiples
contribute to an executive&nbsp;compensation program that is competitive yet strongly aligned with stockholder interests.</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">This Proposal No. 4 provides shareholders
with the opportunity to cast an advisory vote on how often the Company should include a &ldquo;say-on-pay&rdquo; vote in its proxy
materials for future annual shareholder meetings (or a special shareholder meeting for which we must include executive compensation
information in the proxy statement for that meeting).&nbsp;&nbsp;Under this Proposal No.4, shareholders may vote to have the say-on-pay
vote every three years, or they may abstain.</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">We believe that say-on-pay votes should
be conducted every three years. This is the second time that shareholders are provided with the opportunity to cast a say-on-pay
vote, and the Compensation Committee, which administers our executive compensation program, values the opinions expressed by shareholders
and will consider the outcome of these votes in making its decisions on executive compensation in the future. At our March 22,
2012 Annual Shareholders Meeting, our shareholders voted 87% approval of the compensation paid to our named executive officers
and 55.85% approval to hold Say-On-Pay votes every three years.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Vote Required</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">The option of &ldquo;one year,&rdquo; &ldquo;two years,&rdquo;
or &ldquo;three years&rdquo; which receives the highest number of votes will be the option recommended by the shareholders.&nbsp;&nbsp;Abstentions
and broker non-votes will not affect the outcome of this approval.</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Recommendation of the Board</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"><FONT STYLE="text-transform: uppercase"><B>The Board recommends
that shareholders vote on Proposal No. 4 to hold say-on-pay votes EVERY THREE YEARS (as opposed to every one year or every two
years).</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>STOCK OWNERSHIP INFORMATION</B></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"><B><I>Security Ownership of Certain Beneficial Owners and Management</I></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">The following table sets forth certain information as of January
26, 2015, with respect to the beneficial ownership of shares of our common stock owned by:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="color: black">&bull;</FONT></TD>
    <TD STYLE="width: 92%"><FONT STYLE="color: black">Each of our directors, our CEO and the other NEOs;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: black">&bull;</FONT></TD>
    <TD><FONT STYLE="color: black">All directors and executive officers as a group;&nbsp;and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: black">&bull;</FONT></TD>
    <TD><FONT STYLE="color: black">Each person or entity who is known to us to be the beneficial owner of more than 5% of our common stock.</FONT></TD></TR>
</TABLE>
<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">As of January 26, 2015, our outstanding
equity securities consisted of 3,380,167 shares of common stock. The number of shares beneficially owned by each stockholder is
determined under rules promulgated by the SEC and generally includes voting or investment power over the shares. The information
does not necessarily indicate beneficial ownership for any other purpose. Under Securities and Exchange Commission (the &ldquo;SEC&rdquo;)
rules, the number of shares of common stock deemed outstanding includes shares issuable upon the conversion of other securities,
as well as the exercise of options or the settlement of restricted stock units held by the respective person or group that may
be exercised or settled on or within 60&nbsp;days of January 26, 2015. For purposes of calculating each person&rsquo;s or group&rsquo;s
percentage ownership, shares of common stock issuable pursuant to stock options and restricted stock units that may be exercised
or settled on or within 60&nbsp;days of January 26, 2015 are included as outstanding and beneficially owned by that person or group
but are not treated as outstanding for the purpose of computing the percentage ownership of any other person or group.</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; text-align: center"><FONT STYLE="color: black">Name and Address</FONT><BR>
<FONT STYLE="color: black">of Beneficial Owner </FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1px solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="color: black">Amount and Nature of</FONT><BR> <FONT STYLE="color: black">Beneficial Ownership</FONT><BR> <FONT STYLE="color: black">(1)</FONT></TD>
    <TD STYLE="border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-left: 3pt; padding-right: 3pt"><FONT STYLE="color: black">Percent of Class</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt; width: 35%"><FONT STYLE="color: black">Michael Weinstein</FONT><BR>
<FONT STYLE="color: black">85 Fifth Avenue</FONT><BR>
<FONT STYLE="color: black">New York, New York &nbsp;10003</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: right; width: 16%"><FONT STYLE="color: black">1,124,069</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-left: 30.75pt; text-align: right; width: 16%; padding-right: 3pt"><FONT STYLE="color: black">(2)</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; width: 33%; padding-right: 3pt"><FONT STYLE="color: black">33.01%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt"><FONT STYLE="color: black">Bruce R. Lewin</FONT><BR>
<FONT STYLE="color: black">1329A North Avenue</FONT><BR>
<FONT STYLE="color: black">New Rochelle, New York&nbsp;&nbsp;10804</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT STYLE="color: black">&nbsp;&nbsp;297,681</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-left: 16.5pt; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">(3) (7)</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">8.79%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt"><FONT STYLE="color: black">Vincent Pascal</FONT><BR>
<FONT STYLE="color: black">85 Fifth Avenue</FONT><BR>
<FONT STYLE="color: black">New York, New York&nbsp;&nbsp;10003</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT STYLE="color: black">86,108</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-left: 30.75pt; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">(4)</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">2.51%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt"><FONT STYLE="color: black">Steven Shulman</FONT><BR>
<FONT STYLE="color: black">P.O. Box 52</FONT><BR>
<FONT STYLE="color: black">Rye Beach, NH&nbsp;&nbsp;03871</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT STYLE="color: black">22,800</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-left: 30.75pt; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">(5)</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">Less than 1%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt"><FONT STYLE="color: black">Marcia Allen </FONT><BR>
<FONT STYLE="color: black">1112 Montana Avenue, #284</FONT><BR>
<FONT STYLE="color: black">Santa Monica, CA&nbsp;&nbsp;90403</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT STYLE="color: black">13,500</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-left: 30.75pt; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">(5)</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">Less than 1%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt"><FONT STYLE="color: black">Paul Gordon</FONT><BR>
<FONT STYLE="color: black">85 Fifth Avenue</FONT><BR>
<FONT STYLE="color: black">New York, New York&nbsp;&nbsp;10003</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT STYLE="color: black">49,000</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-left: 30.75pt; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">(4)</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">1.43%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt"><FONT STYLE="color: black">Robert Stewart</FONT><BR>
<FONT STYLE="color: black">85 Fifth Avenue</FONT><BR>
<FONT STYLE="color: black">New York, New York&nbsp;&nbsp;10003</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT STYLE="color: black">50,800</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-left: 30.75pt; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">(4)</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">1.48%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt"><FONT STYLE="color: black">Arthur Stainman</FONT><BR>
<FONT STYLE="color: black">320 East 72<SUP>nd</SUP> Street</FONT><BR>
<FONT STYLE="color: black">New York, NY&nbsp;&nbsp;10021</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT STYLE="color: black">71,950</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-left: 30.75pt; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">(7)</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">2.13%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt"><FONT STYLE="color: black">Stephen Novick</FONT><BR>
<FONT STYLE="color: black">110 East 59<SUP>th</SUP> Street</FONT><BR>
<FONT STYLE="color: black">New York, New York&nbsp;&nbsp;10022</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT STYLE="color: black">13,500</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-left: 30.75pt; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">(5)</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">Less than 1%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt"><FONT STYLE="color: black">AQR Capital Management, LLC</FONT><BR>
<FONT STYLE="color: black">Two Greenwich Plaza, 3<SUP>RD</SUP> Fl.</FONT><BR>
<FONT STYLE="color: black">Greenwich CT&nbsp;&nbsp;06830</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT STYLE="color: black">207,348</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-left: 30.75pt; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">(8)</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt"><FONT STYLE="color: black">6.13%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 3pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-left: 13pt; text-indent: -10pt; padding-bottom: 10pt"><FONT STYLE="color: black">FMR LLC</FONT><BR>
<FONT STYLE="color: black">82 Devonshire Street</FONT><BR>
<FONT STYLE="color: black">Boston, MA&nbsp;&nbsp;02109</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: right; padding-bottom: 10pt"><FONT STYLE="color: black">224,895</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-left: 30.75pt; text-align: right; padding-right: 3pt; padding-bottom: 10pt"><FONT STYLE="color: black">(9)</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt; padding-bottom: 10pt"><FONT STYLE="color: black">6.65%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; font-size: 8pt; padding-left: 13pt; text-indent: -10pt; padding-bottom: 10pt"><FONT STYLE="font-size: 8pt; color: black">All directors and officers as a group (ten persons)</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: right; padding-bottom: 10pt"><FONT STYLE="color: black">1,615,702</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-left: 25.5pt; text-align: right; padding-right: 3pt; padding-bottom: 10pt"><FONT STYLE="color: black">(10)</FONT></TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: right; padding-right: 3pt; padding-bottom: 10pt"><FONT STYLE="color: black">44.8%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="color: black">(1)</FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="color: black">Except to the extent otherwise indicated, to the best of the Company&rsquo;s knowledge, each of the indicated persons exercises sole voting and investment power with respect to all shares beneficially owned by him.</FONT></TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="color: black">(2)</FONT></TD>
    <TD STYLE="text-align: justify; width: 96%"><FONT STYLE="color: black">Includes 3,649 shares owned by The Weinstein Foundation, a private foundation of which Mr. Weinstein acts as trustee and as to which shares Mr. Weinstein has shared investment and shared voting power, an aggregate of 2,400 shares owned by Mr. Weinstein&rsquo;s minor children and 25,000 shares issuable pursuant to stock options exercisable within 60 days after the date of this Proxy Statement.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: black">(3)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="color: black">Includes 1,500 shares owned by Mr. Lewin in his Individual Retirement Account (&ldquo;IRA&rdquo;).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: black">(4)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="color: black">Includes 49,000 shares issuable pursuant to stock options exercisable within 60 days after the date of this Proxy Statement.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: black">(5)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="color: black">Includes 13,500 shares issuable pursuant to stock options exercisable within 60 days after the date of this Proxy Statement.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: black">(6)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="color: black">Includes 31,150 shares owned by Mr. Stainman&rsquo;s spouse and 9,200 shares held by investment advisory clients of First Manhattan Co. (&ldquo;FMC&rdquo;), as to which FMC and Mr. Stainman, in his capacity as Managing Member of First Manhattan LLC, the sole general partner of FMC, share dispositive and voting power.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: black">(7)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="color: black">Includes 5,000 shares issuable pursuant to stock options exercisable within 60 days after the date of this Proxy Statement.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: black">(8)&nbsp;</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">Based on information
set forth on Schedule 13G filed by AQR Capital Management, LLC (&ldquo;AQR&rdquo;) with the SEC on February 11, 2014, it appears
that H.J. Wilcox, Chief Compliance Officer of AQR has the power to vote and dispose of the Company&rsquo;s securities.&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: black">(9)</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based upon information set forth
on Schedule 13G filed by FMR LLC (&ldquo;FMR&rdquo;) with the SEC on or about February 13, 2013. Fidelity Management &amp; Research
Company (&ldquo;Fidelity&rdquo;), a wholly-owned subsidiary of FMR and an investment adviser registered under Section 203 of the
Investment Advisers Act of 1940, is the beneficial owner of 224,895 shares of our common stock as a result of acting as investment
adviser to various investment companies registered under Section 8 of the Investment Company Act of 1940. The ownership of one
investment company, Fidelity Low Priced Stock Fund, amounted to 224,895 shares of our common stock. Edward C. Johnson 3d and FMR,
through its control of Fidelity, and the funds each has sole power to dispose of the 224,895 shares owned by the funds. Members
of the family of Edward C. Johnson 3d, Chairman of FMR, are the predominant owners, directly or through trusts, of Series B voting
common shares of FMR representing 49% of the voting power of FMR. The Johnson family group and all other Series B shareholders
have entered into a shareholders&rsquo; voting agreement under which all Series B voting common shares will be voted in accordance
with the majority vote of Series B voting common shares. Accordingly, through their ownership of voting common shares and the
execution of the shareholders&rsquo; voting agreement, members of the Johnson family may be deemed, under the Investment Company
Act of 1940, to form a controlling group with respect to FMR. Neither FMR nor Edward C. Johnson 3d has the sole power to vote
or direct the voting of the shares owned directly by the Fidelity funds, which power resides with the funds&rsquo; Boards of Trustees.
Fidelity carries out the voting of the shares under written guidelines established by the funds&rsquo; Boards of Trustees.&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: black">(10)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="color: black">Includes 222,500 shares issuable pursuant to stock options exercisable within 60 days after the date of this Proxy Statement.</FONT></TD></TR>
</TABLE>
<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: center"><B>SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING
COMPLIANCE </B></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">Section 16(a) of the Exchange Act requires
the Company&rsquo;s officers and directors, and persons who own more than ten percent of a registered class of the Company&rsquo;s
equity securities to file reports of ownership and changes in ownership on Forms 3, 4 and 5 with the SEC and the NASDAQ Global
Market. Officers, directors and greater than ten percent shareholders are required by the Commission&rsquo;s regulations to furnish
the Company with copies of all Forms 3, 4 and 5 they file.</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">Based solely on the Company&rsquo;s review
of the copies of such forms it has received, the Company believes that all of its officers, directors and greater than ten percent
beneficial owners complied with all filing requirements applicable to them with respect to transactions during fiscal 2014.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTAIN RELATIONSHIPS AND RELATED PERSON
TRANSACTIONS </B></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">The following section sets forth certain required information
regarding transactions or proposed transactions between the Company and certain related persons for the last two completed fiscal
years.</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">For information on the compensation received
by our directors and executive officers of the Company during the 2014 fiscal year, and the beneficial ownership of equity securities
of the Company of such individuals, see the &ldquo;Security Ownership of Certain Beneficial Owners&rdquo; and &ldquo;Executive
Compensation&rdquo; sections.</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: center"><B>ADDITIONAL INFORMATION</B></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"><B><I>&ldquo;Householding&rdquo; of Proxy
Materials</I></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">The SEC has adopted rules that permit companies
and intermediaries such as brokers to satisfy delivery requirements for proxy statements and annual reports with respect to two
or more shareholders sharing the same address by delivering a single proxy statement and annual report addressed to those shareholders.
This process, which is commonly referred to as &ldquo;householding,&rdquo; potentially provides extra convenience for shareholders
and cost savings for companies. The Company and some brokers household proxy materials, delivering a single proxy statement and
annual report to multiple shareholders sharing an address unless contrary instructions have been received from the affected shareholders.</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">Once you have received notice from your
broker or us that each of us will be householding materials to your address, householding will continue until you are notified
otherwise or until you revoke your consent. If, at any time, you no longer wish to participate in householding and would prefer
to receive a separate proxy statement and annual report, or if you are receiving multiple copies of the proxy statement and annual
report and wish to receive only one, please notify your broker if your shares are held in a brokerage account or the Company if
you hold registered shares. You can notify us by sending a written request to Ark Restaurants Corp., Attention Treasurer, 85 Fifth
Avenue, New York, NY 10003.</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><I>Other Matters</I></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">The Board is not aware of any business
to be presented at the Meeting, other than the matters set forth in the notice of Meeting and described in this Proxy Statement.
If any other business does lawfully come before the Meeting, it is the intention of the persons named as proxies or agents in the
enclosed proxy card to vote on such other business in accordance with their judgment.</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><I>Annual Report</I></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">This proxy solicitation material has been
mailed with the annual report to shareholders for the fiscal year ended September 27, 2014; however, it is not intended that the
annual report for fiscal year 2014 be a part of the proxy statement or this solicitation of proxies.</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">Shareholders are respectfully urged to complete, sign, date
and return the accompanying form of proxy in the enclosed envelope.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 55%"><FONT STYLE="color: black">ARK RESTAURANTS CORP.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: black">By Order of the Board of Directors,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: black">Robert Stewart</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: black"><I>President </I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: black">New York, New York</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: black">February 28, 2015</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Important Notice Regarding the Availability
of Proxy Materials for the Annual Meeting of Shareholders to be held March 24, 2015.</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>The Proxy Statement and our 2014 Annual Report
to Shareholders are available at: http://www.cstproxy.com/arkrestaurants/2015</B></P>

<P STYLE="font: 70pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt"><B>&#9660;&nbsp;FOLD AND DETACH HERE AND READ THE REVERSE SIDE&nbsp;&#9660;</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1px solid; font: 8pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ARK RESTAURANTS CORP.</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PROXY SOLICITED BY THE BOARD OF DIRECTORS</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><B>FOR THE ANNUAL MEETING
OF SHAREHOLDERS</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>March 24, 2015</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">THE UNDERSIGNED, revoking all previous proxies,
hereby appoints MICHAEL WEINSTEIN, ROBERT STEWART and VINCENT PASCAL, or any of them as attorneys, agents and proxies with power
of substitution, and with all powers the undersigned would possess if personally present, to vote all shares of Common Stock of
ARK RESTAURANTS CORP. (the &ldquo;Company&rdquo;) which the undersigned is entitled to vote at the Annual Meeting of Shareholders
of the Company to be held on March 24, 2015 at 10:00 A.M. local time at Bryant Park Grill, 25 West 40<SUP>th</SUP> Street, New
York, New York, and at all adjournments thereof.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(CONTINUED AND TO BE SIGNED ON THE REVERSE
SIDE)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: rgb(127,0,0) 1px solid">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<TR STYLE="vertical-align: top">
    <TD COLSPAN="11" STYLE="border-bottom: Black 1px solid; text-align: center; padding-bottom: 8pt"><B>&#9660;&nbsp;FOLD AND DETACH HERE AND READ THE REVERSE SIDE&nbsp;&#9660;</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 22%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 6%; text-align: center"><FONT STYLE="font-size: 8pt; color: black">Please mark</FONT><BR>
<FONT STYLE="font-size: 8pt; color: black">&nbsp;your vote</FONT><BR>
<FONT STYLE="font-size: 8pt; color: black">like this</FONT></TD>
    <TD STYLE="width: 15%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt; color: black">1. ELECTION OF A BOARD OF NINE DIRECTORS</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 8pt; color: black">FOR</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 8pt; color: black">WITHHOLD</FONT><BR>
<FONT STYLE="font-size: 8pt; color: black">AUTHORITY</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 8pt; color: black">FOR</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 8pt; color: black">AGAINST</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 8pt; color: black">ABSTAIN</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><BR><FONT STYLE="font-size: 8pt; color: black"><B>(To withhold authority to vote for any individual nominee, strike a line through that nominee&rsquo;s name in the list below)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Wingdings">o</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Wingdings">o</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 8pt; color: black">2.</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt; color: black">Ratification of the appointment of Cohn Reznick LLP as independent auditors for the 2015 fiscal year.</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Wingdings">o</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Wingdings">o</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Wingdings">o</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 8pt; color: black">3.</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt; color: black">Advisory vote on approval of executive compensation</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Wingdings">o</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Wingdings">o</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 8pt Wingdings">o</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 8pt; color: black">4.</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt; color: black">Advisory vote on the frequency of the advisory note on executive compensation</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt; color: black"><B>1 Year</B></FONT><BR>
<FONT STYLE="font: 8pt Wingdings">o</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt; color: black"><B>2 Years</B></FONT><BR>
<FONT STYLE="font: 8pt Wingdings">o</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt; color: black"><B>3 Years</B></FONT><BR>
<FONT STYLE="font: 8pt Wingdings">o</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 8pt; color: black">5.</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt; color: black">In their discretion, the proxies are authorized to vote upon such other business as may properly come before the meeting.</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 8pt; color: black">01 - Michael Weinstein</FONT><BR>
<FONT STYLE="font-size: 8pt; color: black">02 - Steven Shulman</FONT><BR>
<FONT STYLE="font-size: 8pt; color: black">03 - Robert Stewart </FONT><BR>
<FONT STYLE="font-size: 8pt; color: black">04 - Marcia Allen</FONT><BR>
<FONT STYLE="font-size: 8pt; color: black">05 - Paul Gordon</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt; color: black">06 - Bruce R. Lewin</FONT><BR> <FONT STYLE="font-size: 8pt; color: black">07
- Vincent Pascal</FONT><BR> <FONT STYLE="font-size: 8pt; color: black">08 - Arthur Stainman</FONT><BR> <FONT STYLE="font-size: 8pt; color: black">09
- Stephen Novick</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-left: 30pt; padding-right: 30pt"><FONT STYLE="font-size: 8pt; color: black"><B>The shares represented by this proxy will be voted in accordance with the instructions given. If no such instructions are given, the shares represented by this proxy will be voted in favor of the: (I) election of all of the nominees for directors designated by the board of directors; (2) ratification of the appointment of CohnReznick LLP as independent auditors for the 2015 fiscal year; (3) approval of executive compensation; and (4) for 3 years for Proposal 5, &nbsp;(III) such other business as may properly come before the meeting.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1px solid; border-left: Black 1px solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1px solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1px solid; border-right: Black 1px solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1px solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="5" STYLE="padding-left: 15pt; padding-right: 40pt"><FONT STYLE="font-size: 8pt; color: black">PLEASE COMPLETE, DATE, SIGN AND MAIL THIS PROXY IN THE ENVELOPE ENCLOSED FOR THIS PURPOSE. No postage is required for mailing in the United States.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1px solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 1px solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1px solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 1px solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center"><FONT STYLE="font-size: 8pt; color: black"><B>COMPANY ID:</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
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    <TD STYLE="border-left: Black 1px solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
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<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1px solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 1px solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center"><FONT STYLE="font-size: 8pt; color: black"><B>PROXY NUMBER:</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1px solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 1px solid">&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
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    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1px solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 1px solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-align: center"><FONT STYLE="font-size: 8pt; color: black"><B>ACCOUNT NUMBER:</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1px solid; border-bottom: Black 1px solid">&nbsp;</TD>
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    <TD STYLE="border-right: Black 1px solid; border-bottom: Black 1px solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>


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

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Dated: _____________________________, 2015 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature
_____________________________________ Signature</B></P>

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

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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 70 0pt 0">Please sign exactly as your name or names appear hereon. Joint owners should each sign personally. When
signing as executor, administrator, corporation, officer, attorney, agent, trustee or guardian, etc. please add your full title
to your signature. If signer is a corporation, please sign n full corporate name by president and authorized officer. If a partnership
or limited liability company, please sign in partnership or limited liability company name by authorized person.</P>



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