Spread the butter on both sides of each slice of bread, reserving 1 Tablespoon of the butter for later.
Use a cookie cutter or the bottom of a juice glass to cut a circle in the middle of each slice of bread.
Place two slices of bread, along with their cutouts, in a skillet over medium heat. Grill until golden then flip.
Place a small dollop of the reserved butter in the center of each hole. Crack an egg into the center and cook until bottom is set, about 3-4 minutes. Flip, and cook an additional 2-3 minutes, or until the whites are set but the yolks are still runny.
Remove from skillet, along with the cutouts to a plate. Sprinkle with salt, pepper, and fresh herbs (such as parsley or basil) to taste, and cheese if desired.
Repeat with remaining bread and eggs. Serve hot.