Document:

EX-10.22

 Exhibit 10.22 

 
  
 

 
 FAMOUS DAVE’S OF AMERICA, INC. 

12701 WHITEWATER DRIVE, SUITE 200 
 MINNETONKA, MN 55343 
 May 19, 2014 

Richard Pawlowski 
 85 Fourth Ave, Apt 6C

 New York, NY 10003 
 Dear Richard,

 It is with great pleasure that we extend to you an offer for the position of Chief Financial Officer for Famous Dave’s (Company),
reporting to Ed Rensi effective Monday, June 2, 2014. We are very excited to have you join our team in this visible and strategic position. These are dynamic times for our Company and we look forward to the contributions you will make to our
success. Outlined below are the terms of your offer: 
 Base Pay 
 You will receive an annualized base salary of $221,000.00 paid in accordance with the Company’s standard payroll practices. 
 Annual Incentive Potential 
 You will be eligible for a performance-based cash incentive
aware at a target of 50% of annual base salary. Participation for fiscal 2014 will be prorated based upon date of hire. Annual Payment of such awards and performance criteria will be based on the Company’s plan as approved by the CEO and Board
of Directors. 
 Long-Term Incentive/Stock Option Award 
 You will be granted a 78,000 share stock option award upon hire that will vest ratably over 3 years, with 26,000 options vesting annually. In addition, you will eligible for future grants as awarded under
the Company’s plan at a 50% target as approved by the CEO and Board of Directors. 
 Health & Welfare Benefits: 

You will eligible to participate in the following benefits the first of the month following 30 days of employment (with enrollment): 

 

			
	 Medical:
	  	Medica
	 Dental:
	  	Delta Dental
	 Vision:
	  	Cigna
	 Group Life Insurance/AD&D:
	  	Cigna
	 Supplemental Life/ AD&D:
	  	Cigna
	 Flexible Spending Accounts:
	  	Medical and/or dependent daycare plans available
	 Short Term Disability:
	  	Cigna
	 Basic Long Term Disability:
	  	Cigna (following 13 weeks of approved STD)
	 Executive Long Term Disability:
	  	Principal

 In addition, you will eligible to participate in the Company’s retirement programs, which are: 

 

			
	 401(k)
	  	Principal Financial following 1 year of employment
	 Non-Qualified Deferred Compensation
	  	Pangburn, immediately eligibility

 Meal Reimbursement 
 You will eligible for 100% meal reimbursement when dining in Famous Dave’s restaurants for business meetings, and occasional social gatherings with friends and/or family, to enjoy, evaluate and
report on the overall experience. 
 Paid Time Off (PTO) 
 You will be eligible to receive paid time off (PTO) as outlined in the Company’s PTO program for General Headquarters. 
 Relocation Expenses 
 You will be provided a relocation package commensurate with an Officer
level position up to a total $25,000.00. It is anticipated your relocation to the General Headquarters in Minnesota will be completed within 12 months from date of hire. Travel support during your first 12 months will be provided as approved by the
CEO. Details on your relocation package will be provided by our partner, Relocation Today. Relocation travel and business travel must be kept separate to be I.R.S. compliant and should meet the Company’s overall guidelines for travel as
outlined in your relocation package and the Travel and Entertainment Policy. 

 Company Policies 
 Your employment will be subject to the Company’s policies and procedures that are established from time to time. 
 Confidentiality 
 You acknowledge and agree that during the term of your employment with the
Company you will have access to various trade secrets and confidential business information (“Confidential Information”) of the Company. You agree that you will use such confidential information solely in connection with your obligations
under this position, to the extent applicable, your service as an Officer of the Company, and you shall maintain in strictest confidence and shall not disclose any such confidential information, directly or indirectly, or use such information in any
other way during the terms of your employment or following termination thereof. You further agree to take all reasonable steps necessary to preserve and protect the Confidential Information. The provisions of the clause shall not apply to
information which (i) was in your possession prior to receipt from the Company, or (ii) is or becomes generally available to the public other than as a result of a disclosure by the Company, its directors, officers, employees, agents or
advisors, or (iii) becomes available to you from a third party having the right to make such disclosures. 
 Intellectual Property

 You acknowledge that any and all patents, licenses, copyrights, trade names, trademarks, assumed names, service marks,
promotional/marketing/advertising campaigns, designs, logos, slogans, computer software and other intellectual property developed, conceived, or created by you in the course of your employment by the Company, either individually or in collaboration
with others, and whether or not during normal working hours or on the premises of the Company (collectively, “Developments”) shall be, as between the Company and you, the sole and absolute property of the Company and you agree that you
will, at the Company’s request and cost, take whatever action is necessary to secure the rights thereto by patent, copyright, assignment or otherwise to the Company. You agree to make full and prompt disclosure to the Company of any and all
such Developments arising during the term of employment. 
 Your Representation 
 We are pleased that you have decided to join the Company. It is important for both you and the Company to make certain there are no conflicts or potential conflicts between you and other organization when
you come to work for us. If you have any concerns, we would be glad to discuss them with you and try to work through them. The goal is to identify any possible problems up front and resolve them. 

Other Conditions of this Offer 
 This
offer of employment is contingent upon satisfactory completion of Famous Dave’s of America’s pre-employment reference check/background investigation, as well as, completing new hire forms, including an I-9. Federal law requires us to
verify the employment eligibility of all new team members. A list of the documents that you can use to verify your eligibility is enclosed. Please bring the required documentation with you on your start date. 

At Will Employment 
 This offer letter is
not intended to create a contractual relationship. Famous Dave’s of America (FDA) is an at-will employer, meaning that either the employee or the company can terminate the at-will employment relationship at any time, with or without case, and
with or without notice. 
 Please review the contents of this letter and return a signed copy to me. Welcome to Famous Dave’s. 

Sincerely, 
 /s/ Paul Ziccarelli 

VP, Legal Affairs and Human Resources 
  

			
	cc:                    	 	Ed Rensi, CEO
		 	Human Resources

 Enclosures 

I, Richard Pawlowski, have read, understand, and accept this offer of employment. 

 

									
	Signature:	  	 /s/ Richard Pawlowski
	  		  	Date:	  	 5/19/2014

	Printed Name:	  	 Richard PawlowskiEX-10.23

 Exhibit 10.23 

 
 

 
 FAMOUS DAVE’S OF AMERICA, INC. 

STOCK OPTION AGREEMENT 
 This Stock Option Agreement (the “Agreement”) is made and entered into as of June 2, 2014, between Famous Dave’s of America, Inc., a Minnesota corporation (the
“Company”), and Richard A. Pawlowski (“Executive”). 
 Background 

A. Executive is commencing service or is currently serving as an executive officer of the Company and the Company desires to award
Executive for his or her services to the Company; 
 B. The Company has adopted the Famous Dave’s of America, Inc. Amended
and Restated 2005 Stock Incentive Plan (the “Plan”) under which shares of common stock of the Company have been reserved for issuance; and 
 C. Executive and the Company desire to enter into this Agreement for the granting of stock options. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto agree as follows: 
 1. Incorporation by Reference. The terms and conditions of the Plan, a copy of which has been delivered to Executive, are hereby incorporated herein and made a part hereof by reference as if set
forth in full. In the event of any conflict or inconsistency between the provisions of this Agreement and those of the Plan, the provisions of the Plan shall govern and control. 

2. Grant of Option; Purchase Price. Subject to the terms and conditions of this Agreement and the Plan, the Company hereby grants
from the Plan to Executive the right and option, hereinafter called the “Option”, to purchase all or any part of an aggregate of Seventy-eight Thousand (78,000) shares of common stock, $0.01 par value per share, of the Company
(the “Shares”) at a purchase price per Share equal to $32.10, which price is intended to be at least 100% of the fair market value of the Company’s common stock on the grant date (determined in accordance with the
Company’s procedures for calculating such fair market value). 

 3. Exercise and Vesting of Option. The Option shall be exercisable only to the extent
that all, or any portion thereof, has vested in Executive. Except as provided in paragraph 4, the Option shall vest in Executive become exercisable in three equal annual installments of Twenty-six Thousand (26,000) Shares each, on the first
three (3) anniversaries of the date hereof (each a “Vesting Date”), as set below: 
  

			
	 No. of Shares To Be

Vested
	  	 Vesting Date

	 26,000
	  	June 2, 2015
	 26,000
	  	June 2, 2016
	 26,000
	  	June 2, 2017

 4. Termination of Relationship with the Company. In the event that Executive shall cease to be
employed by or engaged as a consultant to the Company prior to any Vesting Date, that part of the Option scheduled to vest on such Vesting Date shall not vest and all of Executive’s rights to and under such non-vested parts of the Option shall
terminate. 
 5. Term of Option. Except as otherwise provided in this Agreement, the Option shall be exercisable for five
(5) years from the date of this Agreement; provided, however, that in the event Executive ceases to be employed by the Company (for any reason or no reason, and regardless of whether ceasing to be an employee is voluntary or
involuntary on the part of Executive), Executive or his/her legal representative shall have ninety (90) days from the date of such termination, or, if earlier, upon the expiration date of the Option as set forth above, to exercise any part of
the Option. Upon the expiration of such ninety (90) day period, or, if earlier, upon the expiration date of the Option as set forth above, the Option shall terminate and become null and void. 

6. Rights of Option Holder. Executive, as holder of the Option, shall not have any of the rights of a shareholder with respect to
the Shares covered by the Option except to the extent that one or more certificates for such Shares shall be delivered to him or her upon the due exercise of all or any part of the Option (or, if applicable, Shares have been recorded as book entries
in the corporate records of the Company). Nothing contained in this Agreement shall be deemed to grant Executive any right to continue to continue as a member of the Board or in the employ of the Company for any period of time or any right to
continue his or her present or any other rate of compensation, nor shall this Agreement be construed as giving Executive, Executive’s beneficiaries or any other person any equity or interests of any kind in the assets of the Company or creating
a trust of any kind or a fiduciary relationship of any kind between the Company and any such person. 
 7.
Transferability. The Option shall not be transferable except to the extent permitted by the Plan. 
 8. Securities Law
Matters. Executive acknowledges that the Shares to be received by him or her upon exercise of the Option may have not been registered under the Securities Act of 1933 or the Blue Sky laws of any state (collectively, the “Securities
Acts”). If such Shares have not been 

  
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so registered, Executive acknowledges and understands that the Company is under no obligation to register, under the Securities Acts, the Shares received by him or her or to assist him or her in
complying with any exemption from such registration if he or she should at a later date wish to dispose of the Shares. Executive acknowledges that if not then registered under the Securities Acts, the Shares shall bear a legend restricting the
transferability thereof, such legend to be substantially in the following form: 
 “The shares represented by this
certificate have not been registered or qualified under federal or state securities laws. The shares may not be offered for sale, sold, pledged or otherwise disposed of unless so registered or qualified, unless an exemption exists or unless such
disposition is not subject to the federal or state securities laws, and the Company may require that the availability or any exemption or the inapplicability of such securities laws be established by an opinion of counsel, which opinion of counsel
shall be reasonably satisfactory to the Company.” 
 9. Executive Representations. Executive hereby represents and
warrants that Executive has reviewed with his or her own tax advisors the federal, state, and local tax consequences of the transactions contemplated by this Agreement. Executive is relying solely on such advisors and not on any statements or
representation of the Company or any of its agents. Executive understands that he or she will be solely responsible for any tax liability that may result to him or her as a result of the transactions contemplated by this Agreement. The Option, if
exercised, will be exercised for investment and not with a view to the sale or distribution of the Shares to be received upon exercise thereof. 
 10. Notices. All notices and other communications provided in this Agreement will be in writing and will be deemed to have been duly given when received by the party to whom it is directed at the
following addresses: 
  

					
	 If to the Company:
	 	If to Executive:	 	
			
	 Famous Dave’s of America, Inc.
	 	Richard A. Pawlowski	 	
	 12701 Whitewater Drive, Suite 200
	 	  
	 	
	 Minnetonka, MN 55343
	 	  
	 	
	 Attn: Chief Executive Officer
	 	  
	 	

  
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 11. General. 

(a) The Option is granted pursuant to the Plan and is governed by the terms thereof. The Company shall at all times during the term of
the Option reserve and keep available such number of Shares as will be sufficient to satisfy the requirements of this Option Agreement. 
 (b) This Agreement may be amended only by a written agreement executed by the Company and Executive. 
 (c) This Agreement and the Plan embody the entire agreement made between the parties hereto with respect to matters covered herein and shall not be modified except in accordance with paragraph 11(b) of
this Agreement. 
 (d) Nothing herein expressed or implied is intended or shall be construed as conferring upon or giving to any
person, firm, or corporation other than the parties hereto, any rights or benefits under or by reason of this Agreement. 
 (e)
Each party hereto agrees to execute such further documents as may be necessary or desirable to effect the purposes of this Agreement. 
 (f) This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same agreement. 

(g) This Agreement, in its interpretation and effect, shall be governed by the laws of the State of Minnesota applicable to contracts
executed and to be performed therein. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
first written above. 
  

			
	EXECUTIVE:
	
	 /s/ Richard A. Pawlowski
 Name: Richard A. Pawlowski

	
	FAMOUS DAVE’S OF AMERICA, INC.
		
	By:	 	 /s/ Edward Rensi

	Name:	 	 Edward Rensi

	Title:	 	 CEO

  
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