Exhibit 6.41Exhibit
10.41

# FOURTH AMENDMENT TO
LICENSE AGREEMENT

This
Fourth Amendment to License Agreement (Amendment), dated as of January 26,
2004, is made and entered into by and among Robert M. MacTarnahan
(MacTarnahan), Black Lake Investments, LLC, an Oregon limited liability
company (Black Lake), and Portland Brewing Company, an Oregon corporation
(PBCo).

# RECITALS

A.                MacTarnahan
and Harmer are parties to that certain Assignment of Name and Image           dated as of
January 7, 1994 (the Assignment) pursuant to which           MacTarnahan
purported to transfer to Harmer all right, title and interest of           MacTarnahan to
use the names MacTarnahan, McTarnahan,           MacTs,
Macs and any other derivative of           MacTarnahan (collectively,
the Names) and           MacTarnahans likeness, image and other
personal attributes in connection           with the advertising, merchandising,
promotion, manufacture and sale of any           consumer product or service and any
advertisements, promotional materials and           packaging and containers.

B.                 MacTarnahan,
Harmer and PBCo are parties to that certain License Agreement dated           as of July
1, 1994.

C.                 MacTarnahan,
Harmer, and PBCo are parties to certain Amendments to the License           Agreement
dated as of June 12, 2000, and July 1, 2000. In addition, MacTarnahan,           Harmer
and PBCo have modified certain provisions of the License Agreement by way           of
confirming letters between the parties dated, respectively, September 22,           1999,
June 12, 2000, and January 15, 2002. Copies of the first two executed
          Amendments and the two letter modifications are attached hereto and
incorporated           by reference.

D.                 By
way of an Assignment and Assumption Agreement with Consent between Harmer and
          Black Lake dated January 1, 2002, Black Lake has assumed all rights of Harmer
          under the License Agreement, and has replaced Harmer for all purposes as the
          Licensor of the MacTarnahan marks under the License Agreement. Thereafter, on
          July 1, 2002, MacTaranahan, PBCo and Black Lake entered into a third Amendment
          to the License Agreement. Copies of the Assignment and Assumption Agreement,
and           the third Amendment to the License Agreement, are attached hereto and
          incorporated by reference.

E.                 The
parties desire to further amend the License Agreement (as amended, referred           to
herein as the License) as set forth in this Fourth Amendment.

|AMENDMENT AGREEMENT | PAGE 1
|------------------- | ------



# AGREEMENT

1.       Confirmation
of License Terms.MacTarnahan, Black Lake and PBCo hereby           confirm that as
of the effective date of this Fourth Amendment, the License           Agreement, the
three executed Amendments, the three letter modifications, and           the Assignment
and Assumption Agreement, as referenced above and attached           hereto, represent
all current terms of the License Agreement in full force and           effect.

2.       Section
1.2. Section 1.2 of the License is hereby deleted and replaced           with the
following:

| | Designated
Representative. The term Designated Representative shall mean the
representative appointed by MacTarnahan in accordance with this Section 1.2 who shall have
full authority to consent, on behalf of Black Lake, to PBCos use and registration of
the Trademarks pursuant to Section 3 of this Agreement in the event of the absence,
incapacity or death of MacTarnahan. Initially the Designated Representative shall be Scott
MacTarnahan. MacTarnahan or Black Lake may propose a change to the Designated
Representative, upon written notice to PBCo. Any person so proposed as the Designated
Representative shall, at a minimum, possess sufficient and appropriate legal, business, or
accounting expertise to enable said candidate to perform their duties in a knowledgeable
and reasonable manner. Within fifteen (15) business days of receipt of the notice of
proposed change, PBCo shall either confirm its acceptance of the proposed candidate, or
shall reject the proposed candidate, in writing. In the event PBCo rejects the proposed
candidate, and the parties cannot reach agreement on an alternative Designated
Representative, either party may submit the matter to the Dispute Resolution process as
stated under Section 11.10, as amended hereunder. During the pendency of such Dispute
Resolution, the Designated Representative shall not be changed, but if the existing
Designated Representative is for good reason unable to act in such capacity, then any
matter requiring the consent or other action of the Designated Representative shall be
suspended until a new Designated Representative shall have been finally selected and such
new Designated Representative shall have the full time period, if any, provided in this
Agreement to take such action or give such consent, to be calculated from the day of
his/her final selection. In such an event, MacTarnahan shall propose and name a new
Designated Representative in writing to PBCo within fifteen (15) business days, and the
parties shall endeavor to work together to expeditiously secure the appointment of a new
Designated Representative.
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3.       Section
1.4. Section 1.4, as amended in the Third Amendment of the
                    License effective July 1, 2002, is hereby amended to add the
following last                     sentence:

|AMENDMENT AGREEMENT | PAGE 2
|------------------- | ------



| | Products.                                               In
addition, subject to the applicable royalty provisions set forth at Section
                    6, the term Products shall include other alcoholic and non-alcoholic
beverage                     products, including without limitation soda and other soft
drinks. In the event                     PBCo wishes to begin selling any other type of
new Product (for purposes of                     clarification PBCo Merchandise and
Related Materials will not be deemed to be                     new Products), PBCo will
request the consent of the Designated Representative.                     With regard to
the soda and soft drink Products, and with regard to any future
                    request by PBCo for permission to market a new Product for which a
royalty will                     be payable under Section 6, PBCos request shall
include a proposed royalty                     rate to be paid in connection with such
Product. The parties shall agree upon                     the rate of royalty to be paid
by PBCo for the sale of such Products taking into                     consideration the
fair market rate royalty for such Product. In the event PBCo                     should
request the approval of the Designated Representative to allow use of the
                    licensed marks for a new Product, the Designated Representative shall
consider                     such request in good faith, and shall confirm or deny such
approval in writing                     within fifteen (15) business days following
receipt of such request from PBCo.                     In the event the parties cannot
agree upon the reasonable royalty rate to be                     paid in connection with
the sale of any new Product (including soda, soft drinks                     and any new
Product for which a royalty is payable under Section 6), either                     party
may submit the matter to the Dispute Resolution process as stated under
                    Section 11.10, as amended hereunder. During the pendency of such
Dispute                     Resolution, the proposed Product shall not be distributed or
sold.
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| | The
parties hereby acknowledge that as of the effective date of this Fourth Amendment, the
MacTarnahans whiskey Product is being sold by Black Lake, pursuant to sublicense
back to Black Lake from PBCo under Section 4.4 to the License. Such sublicense shall
continue, to allow Black Lake to continue to market the whiskey Product on an exclusive,
royalty-free basis. The parties shall endeavor in good faith to formalize that sublicense
by way of a writing to be attached to the License as a further Amendment hereto.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

4.       Section
1.5.Section 1.5 of the License is hereby deleted and replaced           with the
following:

| | PBCo
Merchandise. The term PBCo Merchandise shall mean (i) consumer items
consisting of apparel, hats, watches, jewelry, and glassware, beverage containers and
other beverage-related products, (ii) subject to the restrictions stated below, other
merchandise customarily marketed, promoted, distributed or sold in or by the beer industry
as merchandise ancillary to, and to promote, advertise, or market the sale of, beer or any
other Products, including without limitation any forms of merchandise previously sold or
distributed by PBCo pursuant to this License, as further detailed under the attached
Schedules of
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|AMENDMENT AGREEMENT | PAGE 3
|------------------- | ------



| | Approved Marks and Uses, namely Schedules 3.2 and 4.2, and (iii) subject to
the applicable royalty provisions set forth at Section 6, any other merchandise produced
by PBCo, its licensees, successors, or assigns or on its behalf, and as consented to by
the Designated Representative. With regard to any future request by PBCo for permission to
market new PBCo Merchandise under this subclause (iii), for which a royalty may be payable
under Section 6, PBCos request shall include a proposed royalty rate to be paid in
connection with such PBCo Merchandise. The parties shall agree upon the rate of royalty to
be paid by PBCo for the sale of such PBCo Merchandise taking into consideration the fair
market rate royalty for such item. In the event the parties cannot agree upon the
reasonable royalty rate to be paid in connection with the sale of any such PBCo
Merchandise, either party may submit the matter to the Dispute Resolution process as
stated under Section 11.10, as amended hereunder.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | In
the event PBCo should request the approval of the Designated Representative to allow use
of the licensed marks for a new type of merchandise not produced by PBCo in the past, the
Designated Representative shall consider such request in good faith, and shall confirm or
deny such approval in writing within fifteen (15) business days following receipt of such
request from PBCo. The Designated Representative shall not unreasonably withhold approval
where the requested merchandise does not relate to sexual acts, pornography, or some other
subject matter that may negatively impact the reputation or character of the name
MacTarnahan and its variations and shall state in writing the reason for
withholding approval in the written notice to PBCo. In the event that the Designated
Representative withholds approval of a new form of merchandise, and the parties are unable
to come to agreement as to an alternative or modified form of merchandise, either party
may submit the matter to the Dispute Resolution process as stated under Section 11.10, as
amended hereunder. During the pendency of such Dispute Resolution, the proposed
merchandise shall not be distributed or sold.
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| | The
parties hereby acknowledge that as of the effective date of this Fourth Amendment,
bicycling jerseys advertising the MacTaranahans beer brands are being sold as PBCo
Merchandise by Mr. Brice Harpole, pursuant to an oral sublicense from PBCo under Section
4.4 to the License. Such sublicense shall continue, to allow Mr. Harpole to continue to
market the bicycling apparel PBCo Merchandise on a non-exclusive basis. The parties shall
endeavor in good faith to formalize that sublicense by way of a writing to be attached to
the License as a further Amendment hereto.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

5.       Section
2.1. Section 2.1 of the License is hereby deleted and replaced
                    with the following:

|AMENDMENT AGREEMENT | PAGE 4
|------------------- | ------



| | General. As set
forth in more detail in Sections 3 and 4 below, MacTarnahan, Harmer and
                    Black Lake will allow PBCo to use MacTarnahans name (including
variations                     thereof as set forth at Section 3.1(a), as amended
hereby), likeness, image and                     other personal attributes (MacTarnahan
Rights) only on the terms and                     conditions set forth in this
Agreement. Any use by PBCo of the MacTarnahan                     Rights not expressly
approved or consented to in this Agreement requires a                     separate
written consent by the Designated Representative prior to such use by
                    PBCo.
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6.       Section
3.1(a). Section 3.1(a) of the License is hereby deleted and
                    replaced with the following:

| | Consent
to Use Name. MacTarnahan and Black Lake hereby confirm that MacTarnahan granted to
PBCo the right to use his surname MacTarnahan and variations thereon as a
trademark and with the Trademarks for the Products, PBCo Merchandise and Related Materials
at the time PBCo commenced use of the MacTarnahan name and the Trademarks in 1992.
MacTarnahan and Black Lake acknowledge that all right, title and interest in and to the
Trademarks and any other trademark or service mark used by PBCo involving the name
MacTarnahan or a variation, such as MacTarnahans, McTarnahans, Macs or
MacTs, are and will be owned by and have accrued and will accrue to PBCo.
MacTarnahan and Black Lake hereby grant any other consent needed by PBCo to use the
MacTarnahan surname and variations, including without limitation McTarnahan,
for all current and historic uses by PBCo. A listing of all such allowed marks and uses
are attached hereto as Schedules 3.2 and 4.2, respectively.
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7.       Section
3.2(a). Section 3.2(a) of the License is hereby deleted and           replaced with
the following:

| | Approved
Marks. PBCo shall not be required to seek further consent for the use of any
MacTarnahan Rights in any Approved Mark. On the Effective Date of this Agreement, the
following marks shall be deemed approved for all consents in this Section 3 for the
Products, PBCo Merchandise and Related Materials: the Trademarks, the State Trademarks and
any other trademarks and service marks that use the MacTarnahan surname or any
variations thereof as have been used by PBCo at any time prior to the effective date of
this Fourth Amendment, including, but not limited to, all marks as are listed on Schedule
3.2 attached hereto. The parties acknowledge and recognize that the attached Schedule 3.2
does not comprise a complete or comprehensive list of Approved Marks.
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|AMENDMENT AGREEMENT | PAGE 5
|------------------- | ------



8.       Section
3.2(b). Section 3.2(b) of the License is hereby deleted and           replaced with
the following:

| | New
Marks and Changes. Except for Approved Marks, PBCo shall be required to seek consent
from the Designated Representative for the use of any new trademark or service mark using
the surname MacTarnahan or a close variation thereof. The obligation of PBCo
to seek consent from the Designated Representative as set forth above extends to the use
of Approved Marks which have been materially changed or which will be used with goods and
services other than Products, PBCo Merchandise and Related Materials or otherwise already
approved by MacTarnahan or Black Lake. PBCo shall not be required to seek further consent
from the Designated Representative or MacTarnahan or Black Lake in order to make
nonmaterial changes, as that term is used in trademark law, to any Approved Mark (for
example, use of the MacTarnahan name or approved variations thereof combined
with generic or descriptive terms). This Section 3.2 shall only govern PBCos rights
to use any MacTarnahan Rights as trademarks and the use of MacTarnahan Rights for other
purposes shall be governed by Section 4 below.
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9.       Section
4.1. Section 4.1 of the License is hereby deleted and replaced
                    with the following:

| | License.
 MacTarnahan and Black Lake hereby grant to PBCo an exclusive, worldwide license
                    to use MacTarnahans likeness, image and other personal
attributes as have                     been used by PBCo at any time prior to the
Effective Date in connection with the                     advertising, merchandising,
promotion, manufacture and sale of the Products,                     PBCo Merchandise and
Related Materials (the Prior Approved Uses).                     Subject to
the approval provisions in Section 4.2, MacTarnahan and Black Lake
                    hereby grant to PBCo an exclusive, worldwide license to use
MacTarnahans                     likeness, image and other personal attributes in
connection with the                     advertising, merchandising, promotion,
manufacture and sale of the Products,                     PBCo Merchandise and Related
Materials.
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10.       Section
4.2(a). Section 4.2(a) of the License is hereby deleted and
                    replaced with the following:

| | The
Approval Procedure.Except as to the Prior Approved Uses, the Designated
Representative shall have the right to approve all future, new uses of MacTarnahans
likeness, image and other personal attributes, such as his signature and voice, prior to
PBCos use of such items. PBCo shall submit the requested use and the manner of such
use either in writing or at a mutually arranged and scheduled meeting between the parties,
for the Designated Representatives approval. The Designated Representative will use
its best
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|AMENDMENT AGREEMENT | PAGE 6
|------------------- | ------



| | efforts to meet with PBCo (personally or by telephone conference call) and
approve or disapprove the request on the same day that said request(s) are submitted for
the Designated Representatives approval. Otherwise, the Designated Representative
shall have fifteen (15) business days to approve or disapprove the requested use. In the
event the Designated Representative disapproves the requested use(s), the Designated
Representative shall provide PBCo written notice of its objection and stating the
reason(s) for its objection. If the Designated Representative does not respond within the
fifteen-day (15-day) period, the use will be deemed approved. Once a use is approved
(Approved Use), no further approval shall be necessary for future use in the
manner described in PBCos request.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

11.       Section
4.2(b). Section 4.2(b) of the License is hereby deleted and           replaced with
the following:

| | Schedule
of Approved Uses. MacTarnahan and Black Lake acknowledge that all current and past
uses of MacTarnahans likeness, image and other personal attributes by PBCo,
including the Will Vinton figurine of MacTarnahan and the current and past case packaging,
have been previously approved by MacTarnahan and Black Lake and are deemed Approved Uses,
including, but not limited to, all uses as are listed on Schedule 4.2 attached hereto. The
parties acknowledge and recognize that the attached Schedule 4.2 does not comprise a
complete or comprehensive list of Approved Uses. With regard to new, future uses as may be
requested by PBCo, once a new use is approved, the parties shall endeavor to append a
description to Schedule 4.2 to create a record of Approved Uses under this Agreement.
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12.       Section
4.2(c).Section 4.2(c) of the License is hereby deleted and           replaced with
the following:

| | Restrictions
on Approved Uses. PBCo shall have no right to use MacTarnahans likeness, image
and other personal attributes in a context or form different from the version of Approved
Use attached to this Agreement as part of Schedule 4.2 or as previously approved by
MacTarnahan, provided however, as with respect to the Approved Uses, PBCo
may in its discretion make certain updates, modifications, and changes to the Approved
Uses that do not materially change the Approved Uses, without seeking the Designated
Representatives prior approval. Any new or different use of such rights beyond such
updates, modifications and changes shall be separately approved by the Designated
Representative under this Section. Notwithstanding these restrictions, PBCo shall be
permitted to display and to publish an Approved Use through any media format now known or
hereafter developed.
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|AMENDMENT AGREEMENT | PAGE 7
|------------------- | ------



13.       Section
4.3. Section 4.3 of the License is hereby deleted and replaced
                    with the following:

| | Appearance.
MacTarnahan may, in his sole discretion, make public appearances on behalf of
                    PBCo for promotional purposes. The scheduling shall be by mutual
agreement                     between MacTarnahan and PBCo. MacTarnahan shall not be
obligated in any way to                     make such appearances. PBCo shall reimburse
MacTarnahan, and a traveling                     companion of MacTaranahans
choosing, for all reasonable expenses related                     to such appearances
that have been pre-approved by PBCo.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

14.       Section
4.5.Section 4.5 of the License is hereby deleted and replaced
                    with the following:

| | Business
and Quality Control. Except as otherwise provided in this Agreement, PBCo shall have
the sole authority to determine the mode and method of advertising, merchandising,
promoting, manufacturing, selling and distributing its products, provided
however, PBCo agrees that the nature and quality of all products sold by it in
connection with MacTarnahan, or variations thereon, shall conform to industry
standards for super premium, import, or micro beer and
ale products or comparable standards for other Product categories.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

15.       Section
5.1. Section 5.1 is hereby deleted and replaced with the           following:

| | Warranties
and Representations of MacTarnahan, Harmer and Black Lake. MacTarnahan, Harmer and
Black Lake represent and warrant to PBCo as follows:
| | --------------------------------------------------------------------------------------------------------------------------------------------------

| | (a)                      they
have not granted to any other party a license to use any rights of
               publicity or other rights licensed herein to PBCo and warrant that PBCo is
the                exclusive licensee of the MacTarnahan Rights for the Products,
ancillary                products marketed and promoted in connection therewith and
related food and                beverage services;
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (b)                      they
will not license or otherwise agree to let any other party use the
               MacTarnahan Rights on any type of beverage or food product or any
ancillary or                promotional products marketed in connection therewith or food
or beverage                services;
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (c)                      except
for the use described in Sections 1.4 and 1.5 to this Amendment, above,
               and in Attachment C hereto, they know of no other party currently using
the                MacTarnahan name or similar name or variation thereon, or using
               MacTarnahans likeness, image or other personal characteristics for
any
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|AMENDMENT AGREEMENT | PAGE 8
|------------------- | ------



| | Products,
ancillary products marketed and promoted in connection therewith and
               related food and beverage services.
| | ---------------------------------------------------------------------------------------------------------------------------------

| | (d)                      they
have all right, title, licenses and authority to execute the License and
               the Amendment and carry out the transactions contemplated herein.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | MacTarnahan,
Harmer and Black Lake agree to defend and indemnify PBCo regarding any claim arising out
of a breach of this Section 5.1.
| | --------------------------------------------------------------------------------------------------------------------------------------

16.       Section
5.2. Section 5.2 is hereby deleted and replaced with the           following:

| | Notification
of Use. MacTarnahan and Black Lake agree to notify PBCo at least thirty (30) days
prior to the first use by MacTarnahan, Black Lake, or another party authorized by
MacTarnahan or Black Lake, of the MacTarnahan Rights in connection with any consumer
product or service (the Proposed Third-Party Use). PBCo shall notify the
sender of the request within thirty (30) days following its receipt of any such notice
whether PBCo approves or disapproves of the proposed Third Party Use. Failure to give
notice within such 30-day period shall constitute approval of the Third Party Use. PBCo
shall approve the Proposed Third Party Use if (a) such use is in connection with a product
or service that does not compete with the Products, the PBCo Merchandise, any service
currently offered by PBCo in connection therewith, or any product, merchandise or service
that would be a natural extension of the Products, PBCo Merchandise and current services
offered by PBCo in connection therewith, (b) such use would not be confusingly similar to,
or dilutive of, PBCos use, and (c) such use would not otherwise negatively impact
PBCos reputation. If PBCo withholds its approval of a proposed Third Party Use, PBCo
will state in writing the reasons for such withholding. If PBCo withholds approval of a
proposed Third Party Use, and the parties are unable to reach agreement concerning such
use, either party may submit the matter to the Dispute Resolution process as stated under
Section 11.10, as amended hereunder. During pendency of such Dispute Resolution, the
proposed Third Party Use shall not be undertaken. Should PBCo approve the Proposed
Third-Party Use, PBCo shall be consulted on the terms and conditions of said use.
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17.       
Sections 6.1 and 6.3. Royalties.

| | 17.1
    Existing Products.  The following shall be added to the end of Section 6.1:
| | ------------------------------------------------------------------------------------

|AMENDMENT AGREEMENT | PAGE 9
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| | Beginning
on the fifth (5th) anniversary from the effective date of this Fourth
Amendment, the royalty rate of $1.00 per barrel shall be adjusted and increased by fifteen
percent (15%) per barrel. A similar adjustment and increase of fifteen percent (15%) on
the royalty per barrel then currently in effect shall take effect as of each fifth
(5th) year thereafter (so that the royalty per barrel shall equal $1.15 per
barrel for the sixth through tenth years after the effective date of this Fourth
Amendment, $1.32 per barrel for the eleventh through fifteenth years after the effective
date of this Fourth Amendment, and so forth).
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 17.2
    "Stand Alone" New Products and "Stand-Alone PBCo Merchandise."   The following shall
be added as a new Section 6.1.1:
| | ------------------------------------------------------------------------------------------------------------------------------

| | Notwithstanding
the provisions of Section 6.3, any
| | --------------------------------------------------

| | (a) soda and soft drink Products, and
| | -------------------------------------

| | (b) new
item added as a Product or as PBCo Merchandise (pursuant to subclause (iii)
                    of Section 1.5) after the effective date of this Fourth Amendment
that does not                     function to promote, advertise or market the alcoholic
or non-alcoholic                     Products,
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | shall
be deemed as stand alone Products or stand alone PBCo Merchandise,
as applicable, and a royalty shall be paid on such Products and PBCo Merchandise. Any
other Product or PBCo Merchandise including Products and PBCo Merchandise that are sold to
promote, advertise or market the alcoholic or non-alcoholic beverage Products or the
MacTarnahan brand, or variations thereof (by way of example, the
MacTarnahans whiskey heretofore sold by PBCo, apparel items advertising the brand or
restaurant, beer mugs, posters and the like) shall be deemed to function in essence as
items ancillary to those Products, and no royalty shall be owed on the sale of such
ancillary Products or PBCo Merchandise. The royalty amount payable under this Section
6.1.1, and any other terms applicable to the calculation and payment of such royalty,
shall be determined in the manner set forth at Sections 1.4 and 1.5.
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18.       
Section 7.Section 7 is hereby deleted and replaced with the following:

| | Term.
The term of the publicity license and the rights granted to PBCo herein shall
                    be perpetual. However, such license and rights are subject to early
termination                     by mutual agreement of the parties, and PBCo reserves the
right to terminate                     this Agreement by surrender of the license and
rights upon thirty-(30) days                     written notice.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

19.        Section
7.1.Section 7.1 is hereby deleted.

|AMENDMENT AGREEMENT | PAGE 10
|------------------- | -------



20.        Section
7.2. Section 7.2 is hereby renumbered and referred to as the new
                    Section 7.1.

21.        Section
7.2(b). Section 7.2(b) is hereby deleted.

22.        Section
7.2(c). Section 7.2(c) is hereby deleted.

23.        Section
7.3(a).Section 7.3(a) is hereby deleted.

24.        Section
7.3(b). Section 7.3(b) is hereby renumbered and referred to as
                    the new Section 7.3, and
the following is added at the end of that Section:

| | PBCo shall assign to Black Lake, or any person or entity designated in writing by Black Lake,
all trademarks and service marks then designated as Approved Marks and any pending
applications therefor, and the parties shall otherwise take such acts and execute and
deliver such documents as may be reasonable to effect such transfer(s). Black Lake, or its
designed person or entity, shall bear all reasonable costs and required filing fees
related to effect such transfer(s).
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

25.              Section
9.1. Section 9.1 is hereby deleted.

26.               Section
9.2.Section 9.2 is hereby renumbered and referred to as the new           Section
9.1.

27.       Bound
Parties.Where the License refers to any of MacTarnahan, Harmer,           Black
Lake, or any combination thereof, as conveying, granting, licensing,
          transferring, permitting, covenanting, waiving any right, title or interest,
          such reference shall be deemed to be a reference to all of MacTarnahan, Harmer
          and Black Lake.

28.       Representations
and Warranties.MacTarnahan, Harmer and Black Lake do           hereby jointly
represent and warrant that the representations and warranties set           forth in
Section 5.1 of the License are true, correct and complete as of the           date of
this Amendment

29.                 A
new Section 11.10 shall be added, as follows:

11.10.                 Dispute
Resolution.If any dispute or controversy arises between the parties           under
or with respect to this Agreement, the parties shall follow the procedures           set
forth in this Section; provided, that either party may commence litigation
          within thirty (30) days prior to the date after which the commencement of such
          litigation could be barred by any applicable statue of limitations or other
law,           rule, regulation or order of similar import or in order to request
injunctive or           equitable relief necessary to prevent irreparable harm or
commence a proceeding           before the Trademark Trial and

|AMENDMENT AGREEMENT | PAGE 11
|------------------- | -------



Appeal Board (TTAB).
In such event,           the parties shall (except as may be prohibited by judicial or
TTAB order)           nevertheless continue to follow the procedures set forth in this
Section.

| | (a)          The
parties shall use good faith efforts to resolve any dispute or controversy           with
respect to this Agreement within fifteen (15) days following receipt of           written
notice of the dispute or controversy by the aggrieved party to the           responding
party. If the parties do not resolve such dispute or controversy           within such
fifteen-day period, then either party may submit a written demand           for
arbitration to the other party. The notice must be received within the
          applicable statute of limitations if the dispute involves a statutory claim.
The           written notice shall contain a statement setting forth the nature of the
          dispute, the dollar amount involved, if any, and the specific remedy sought.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (b)          Any
arbitration under this Agreement shall be conducted in the English language           and
by a single arbitrator in accordance with the then standard prevailing
          commercial rules, as modified or supplemented by this section, of the American
          Arbitration Association (AAA). The parties shall use their best
          efforts to agree upon a mutually acceptable arbitrator within twenty (20) days
          after the written demand for arbitration under Subsection (a). If the parties
          fail to agree upon a mutually acceptable arbitrator, then either party may
          request the AAA to supply a list of potential arbitrators satisfying the
          requirements of Subsection (c) and such other requirements as the parties may
          agree upon. Within ten (10) days after receipt of the list, the parties shall
          independently rank the proposed arbitrators, simultaneously exchange rankings,
          and select as the arbitrator the individual receiving the highest combined
          ranking who is available to serve. If arbitration is demanded by any of the
          parties, it shall be held in Portland, Oregon.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (c)          The
arbitrator shall have the authority only to interpret and apply the           applicable
provisions of this Agreement, shall not add to, subtract from,           reform, or
modify any of the provisions of this Agreement, and shall not have           the
authority to grant any award that is not consistent with the terms and
          provisions of this Agreement. The arbitrator shall have the authority to grant
          temporary or injunctive relief, specific performance, damages and such other
          relief as may be appropriate in the circumstances; provided, that the
arbitrator           shall not have the authority to render an award of punitive damages.
Any           arbitrator selected under this Section shall be impartial in fact and
          appearance, not an advocate of either party.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (d)          Each
party shall have the right to be represented during the arbitration process           by
legal counsel, or by another representative of its own
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------

|AMENDMENT AGREEMENT | PAGE 12
|------------------- | -------



| | choosing. Unless
          applicable law (or as Section 11.10 (g) to this Agreement) provides otherwise,
          each party shall bear any and all costs associated with its representation. In
          connection with any arbitration proceeding, consistent with the governing local
          and federal rules of civil procedure, each party shall have: (i) subject
to           any applicable privilege or work product immunity, full access to the
records of           the other party that are relevant to the subject matter of the
dispute;           (ii) the power to call for the testimony of any director,
officer,           employee, agent or representative of the other party; and (iii) such
other           rights of discovery as may be afforded by the rules of the AAA or by the
          arbitrator; provided, that all discovery shall be completed no later than
thirty           (30) days prior to the arbitration hearing. Not later than thirty (30)
days           prior to the arbitration hearing, each party shall produce to the other
party           and the arbitrator lists of the witnesses, documents and other
information that           such party intends to use at the arbitration hearing.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (e)          The
arbitrator shall render his or her decision not later than thirty (30) days
          after the final statements and proof have been submitted and any hearing on the
          matter is closed. The arbitrators decision shall be in writing, shall
          specify the factual and legal bases of such decision, shall be final and
binding           on the parties and their respective successors and assigns, and a
judgment           consistent therewith may be entered by any court of competent
jurisdiction;           provided, however, that the arbitrators decision shall be
subject to           judicial review, and the reviewing court may vacate, modify or
correct the           arbitrators decision as appropriate (i) where the
arbitrators           findings of fact are not supported by substantial evidence,
(ii) where the           arbitrators conclusions of law are clearly erroneous,
(iii) where the           arbitrators decision exceeded the scope of his or
her authority under this           Agreement, or (iv) as otherwise provided by
applicable law.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (f)          The
parties agree that the arbitrators decision shall be treated
          confidentially, and the parties shall not, except as otherwise required by law
          or court order, disclose the arbitrators decision to any third party,
          excluding the respective parties attorneys and accountants with a need to
          know provided that such recipients agree to be bound by the same restrictions
as           are contained in this Agreement. To the extent of any conflict, this section
          shall supersede AAA rules and control.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (g)          Each
party shall bear the costs of preparing and presenting its case in the
          arbitration (e.g., costs of its witnesses). All other costs of the arbitration
          (e.g., any fees payable to the arbitrator, and court reporter, and the costs of
          any hearing room or facilities) shall be divided equally between the parties.
The only exception to this shall be in the case of adispute over the
          payment of royalties owed pursuant to this License, in which case the party
          prevailing
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|AMENDMENT AGREEMENT | PAGE 13
|------------------- | -------



| | in the disputeresolution process shall also have the right
          to recover its reasonable attorneys fees.
| | ---------------------------------------------------------------------------------------------------------------

30.                 Section
11.8, Notice, shall be deleted and replaced with the following:

11.8
Notice

Any
notice or demand under the License and this Agreement shall be made in writing and shall
be given and effective upon receipt if delivered in person, by facsimile; one day after
deposit prepaid with a national overnight express delivery service; or, three days after
deposit in the United States mail (registered or certified mail, postage prepaid, return
receipt requested). Each party shall be responsible for notifying the other of any change
in address for purposes of this paragraph. Notices shall be provided the following
representatives at the addresses below listed:

|If to MacTarnahan or to the Designed Representative:
|----------------------------------------------------
|                                                    
|                                                    
|If to Black Lake:                                   
|                                                    
|If to PBCo:                                         
|                                                    
|With a copy to:                                     
|                                                    
|                                                    
|                                                    

The
above addresses may be changed at any time by giving prior written notice as above
provided.

31.                 New
Section 11.11 shall be added as follows:

11.11.
Entire Agreement

This
Agreement constitutes the entire agreement, and supersedes any and all prior agreements,
between the parties with respect to the License.

|AMENDMENT AGREEMENT | PAGE 14
|------------------- | -------



IN
WITNESS WHEREOF, the parties have entered into this Fourth Amendment to License Agreement
as of the date first set forth above.

|MacTarnahan: Robert M. MacTarnahan                                | Harmer: Harmer Company, an Oregon corporation       
|----------------------------------------------------------------- | ----------------------------------------------------
|                                                                  |                                                     
|By:/s/ ROBERT M. MACTARNAHAN     Robert M. MacTarnahan            | By:/s/ ROBERT M. MACTARNAHANTitle: President        
|                                                                  |                                                     
|Black Lake Investments, LLC, an Oregon limited liability company: | Portland Brewing Company, an Oregon corporation     
|                                                                  |                                                     
|By:/s/ ROBERT M. MACTARNAHANTitle: Member                         | By:/s/ JEROME CHICVARATitle: Chief Executive Officer