JOINDER AGREEMENTJoinder Agreement • May 21st, 2008 • Lion Fund, L.P. • Retail-eating places • Texas
WHEREAS, Sardar Biglari and certain other stockholders (collectively, the “Existing Stockholders”) of The Steak n Shake Company (the “Company”) are parties to that certain Agreement dated as of April 15, 2008 (the “Agreement”), a copy of which is attached hereto as Exhibit A, pursuant to which the Existing Stockholders have formed a “group” (as contemplated by Section 13(d) of the Securities Exchange Act of 1934, as amended) for the purpose of acting in concert with one another in their capacities as stockholders of the Company; and
