With a rim of a glass or cup, press a hole in the center of the slice of bread.
Heat a skillet or griddle over medium heat (about 350 degrees) and melt the butter.
When the butter is all spread out, place the bread in the skillet.
Crack the egg straight into the center of the hole.
Sprinkle the egg with salt and pepper.
Cook until the egg sets a bit on the bottom. After about a minute, flip it over with a spatula and salt and pepper the other side.
Move the toast around in the skillet, soaking up all of the glorious butter.
Let it cook until the yolk feels soft. Here's the key: golden brown toast, white (not browned/burned) whites, soft unbroken yolk.
Using spatula take the toast off the griddle, and transfer to plate. Enjoy!