EXHIBIT 10.1
 
  
     Compensation and Benefits
  1.
    
    Your base salary will be $5,769.23 per pay period ($150,000 per annum), payable bi-weekly in
arrears, by direct bank transfer.
 2.
    
    You will be eligible to participate in the Companys Officer Incentive Compensation Bonus
Plan (OICP), which is explained further in this letter. Please note for the 2008 plan
year, the individual incentive component of the OICP has been replaced by the Pyramid
Breweries Gain Sharing Plan. Any payment to which you may become entitled under the Gain
Sharing Plan will be prorated based on employment start date.
 3.
    
    You will be eligible to receive a stock option award and restricted stock awards based on
both performance and service, which is explained further in this letter.
 4.
    
    Your first annual performance review is scheduled for early 2009 consistent with the
Companys annual performance review process and timeline. Interim performance reviews are
scheduled at your managers discretion.
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5.
    
    Your monthly car allowance will be $575.00.
 6.
    
    Group medical coverage through Regence Blue Shield. Vision and dental coverage via the
Companys 60% reimbursement program. All coverage begins the first calendar day of the first
month after 90 days of employment.
 7.
    
    You will earn 160 hours of vacation your first year of service which can be used as earned.
Subsequent vacation will be earned according to the same vacation accrual schedule. You will
earn 40 hours of sick leave each year of service (up to a maximum of 160 hours). Pyramid
Breweries Inc. also observes eight paid holidays each year.8.
    
    Eligibility for participation in the Pyramid Breweries Inc. 401(k) Plan on July 1, 2008.
 9.
    
    This offer is subject to your ability to begin work no later than April 1, 2008. Employment
is also subject to you passing our pre-employment drug test as well as a background check.
     Performance Based Incentive Program (OICP)
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Equity Compensation:
  On the 1st anniversary from the date of grant
    
    
    
    1/4th(22,500 shares)Each complete one-month period of
continuous service following December 1, 2009
    
    
    
    An additional 1/36th(1,875 shares)After 4 years
    
    
    
    100% (90,000 shares)
  Restricted Stock Awards
  I.
    
    Annual Awards. You will be granted a restricted stock award for 20,000
shares effective January 1, 2009. These shares are subject to the terms and conditions
of the Plan and your Award Agreement, which, among other things, will provide that the shares vest in 20% installments, beginning in January 1, 2010 and on the next four
anniversaries of that date; provided, however, that if your employment is terminated by
the Company without Cause, or as a result of your death or Disability (all as defined
below), subsequent to January 1, 2009, and during any other year, you will receive a
prorated portion of the award through the date your employment is terminated;II.
    
    Annual Performance Awards. You will be entitled to receive stock
awards or stock units for an additional 4,000 shares based on the Companys achievement
of certain performance goals upon the filing of the Companys Annual Report on Form
10-K (10-K) for each of the years ended December 31, 2008, 2009, 2010, 2011, and
2012, respectively, (or, if the Company is no longer subject to the reporting
requirements under Section 13 or 15(d) of the Securities Exchange Act of 1934, as
amended, upon the completion of the audit of the Companys financial statements for
each of these respective years), if the Company achieves an increase in return on
average net equity for the years ending December 31, 2008, 2009, 2010, 2011 and 2012 of
at least 200 basis points as compared to return on average net equity for the
immediately preceding year (i.e., for the year ending December 31, 2008, a
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200 basis point increase as compared to return on average net equity for the year ended
December 31, 2007).
   st
 Termination Provision:
  Without Cause:
  By Company for Cause:
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Death:
  Permanent Disability:
  Termination Payments:
 Termination Without Cause:
  st
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All Other Terminations
     /s/ Scott S. BarnumScott Barnum
    
    
    
    March 31, 2008Chief Executive Officer
    
    
    
    DatePyramid Breweries/s/ Paul Curhan
    
    
    
    March 31, 2008Paul Curhan
    
    
    
    Date
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