Document:

exv10w1

EXHIBIT 10.1

CRAFT BREWERS ALLIANCE, INC.

SUMMARY SHEET

OF

DIRECTOR COMPENSATION AND EXECUTIVE CASH COMPENSATION

(JULY 8, 2008)

DIRECTOR COMPENSATION

Non-employee directors of the Company are currently entitled to receive both stock-based and cash
compensation for their service on the board of directors:

Stock-based Compensation:

	 	•	 	Each non-employee director, other than A-B designated directors, is entitled to receive
a grant of common stock of the Company valued at $20,000 upon their election to the board
of directors at the Annual Meeting of Shareholders.

Cash Compensation (to be paid quarterly):

	 	•	 	Each non-employee director is entitled to receive annual board fees of $20,000.
	 
	 	•	 	The Chair of the Audit Committee is entitled to receive additional annual compensation
of $15,000, and the Chairs of each of the Nominating and Governance, Compensation and
Strategy and Integration Committees are entitled to receive additional annual compensation
of $10,000.
	 
	 	•	 	Non-chair members of the Audit Committee are entitled to receive an additional annual
payment of $4,000.
	 
	 	•	 	Non-chair members of the Nominating and Governance, Compensation and Strategy and
Integration Committees are entitled to receive an additional annual payment of $2,000.

EXECUTIVE OFFICER COMPENSATION

The current 2008 base salaries for the Company’s executive officers are:

	 	 	 	 	 
	Terry Michaelson
	 	 	 	 
	Co-Chief Executive Officer
	 	$	215,000	 
	 
	 	 	 	 
	David J. Mickelson
	 	 	 	 
	Co-Chief Executive Officer
	 	$	215,000	 
	 
	 	 	 	 
	Jay T. Caldwell
	 	 	 	 
	Chief Financial Officer and Treasurer
	 	$	180,000	 
	 
	 	 	 	 
	Mark Moreland
	 	 	 	 
	Chief Accounting Officer(1)
	 	$	200,000	 
	 
	 	 	 	 
	Timothy McFall
	 	 	 	 
	Vice President of Marketing
	 	$	170,000	 
	 
	 	 	 	 
	Sebastian Pastore
	 	 	 	 
	Vice President of Brewing Operations and Technology
	 	$	170,000	 
	 
	 	 	 	 
	Martin Wall
	 	 	 	 
	Vice President of Sales
	 	$	162,000	 

 

			
	(1)	 	Mr. Moreland is expected to transition into the position of Chief Financial Officer and
Treasurer of the Company during the third quarter of 2008.

 

 

Executive officers are eligible to receive an annual incentive payment that will be paid upon
achieving certain targets set by the Board of Directors upon the recommendation of the Compensation
Committee. Executive officers may also receive an annual bonus payment at the discretion of the
Board. The maximum discretionary and non-discretionary incentive payments available to these
officers for 2008 is as follows:

	 	 	 	 	 
	Terry Michaelson
	 	 	 	 
	Co-Chief Executive Officer
	 	$	86,000	 
	 
	 	 	 	 
	David J. Mickelson
	 	 	 	 
	Co-Chief Executive Officer
	 	$	86,000	 
	 
	 	 	 	 
	Jay T. Caldwell
	 	 	 	 
	Chief Financial Officer and Treasurer
	 	$	36,000	 
	 
	 	 	 	 
	Mark Moreland
	 	 	 	 
	Chief Accounting Officer
	 	$	60,000	(1)
	 
	 	 	 	 
	Sebastian Pastore
	 	 	 	 
	Vice President of Brewing Operations and Technology
	 	$	34,000	(1)
	 
	 	 	 	 
	Timothy McFall
	 	 	 	 
	Vice President of Marketing
	 	$	35,000	(2)
	 
	 	 	 	 
	Martin Wall
	 	 	 	 
	Vice President of Sales
	 	$	40,000	(2)

 

			
	(1)	 	Bonus amount to be reduced by the total amount, if any, that was (a) paid to the executive as a
bonus prior to the effective date of the merger of the Company with Widmer Brothers Brewing Company
(“Widmer”) or (b) approved for payment to the executive as a bonus for 2008 by the Widmer
Compensation Committee.
	 
	(2)	 	Bonus amount to be reduced by the total amount, if any, that was (a) paid to the executive as a
bonus prior to the effective date of the merger of the Company with Craft Brands Alliance, LLC
(“CBA”) or (b) approved for payment to the executive as a bonus for 2008 by the CBA Compensation
Committee.

Additionally, the Company has agreed to pay to Mr. Michaelson, Mr. McFall and Mr. Wall an amount
equal to the Long Term Bonus earned through December 31, 2007 under their prior employment
agreements with Craft Brands Alliance, LLC, as follows:

	 	 	 
	Terry Michaelson:

	 	2009 Aggregate Payment: $39,515
	 

	 	2010 Aggregate Payment: $35,777
	 

	 	2011 Aggregate Payment: $16,013
	 
	 	 
	Timothy McFall:

	 	2009 Aggregate Payment: $19,757
	 

	 	2010 Aggregate Payment: $17,888
	 

	 	2011 Aggregate Payment: $8,007
	 
	 	 
	Martin Wall:

	 	2009 Aggregate Payment: $19,757
	 

	 	2010 Aggregate Payment: $17,888
	 

	 	2011 Aggregate Payment: $8,007exv10w1

Exhibit 10.1

Form of 2008 Stock Purchase Agreement

AXCESS INTERNATIONAL INC.

3208 Commander Drive

Carrollton, Texas 75006

April 25, 2008

     Re: Stock Purchase Agreement

Ladies and Gentlemen:

     This Agreement sets forth the terms and conditions on which Axcess International Inc., a
Delaware Corporation, of 3208 Commander Drive, Carrollton, Texas, 75006 (the “Company”) will issue
and sell to                                          (the “Purchaser”) shares of Series 2008 Preferred Stock of the
Company, par value $0.01 per share (the “Preferred”).

     1. Type of Security and Purchase Price. The Purchaser hereby agrees to subscribe for
and purchase from the Company, and the Company hereby agrees to issue and sell to the Purchaser One
Hundred (120) Preferred Shares. The purchase price shall be Ten Thousand US Dollars ($10,000) per
share for a total of One Million Two Hundred Thousand US Dollars ($1,200,000) payable in cash.
Preferred shares shall bear no dividends. The purchase and sale shall be effective as of April 25,
2008 (the “Effective Date”).

     2. Purchase Dates and Delivery of Shares. The Company closed on the sale during April
of 2008. Upon its receipt of the purchase price, the Company shall issue and sell to the Purchaser
the number of Preferred and Warrants based on paragraph 1 above. On and as of the Effective Date,
the Company shall execute and deliver to the Purchaser stock certificates in proper form
representing the Shares.

     3. Securities Act Legend; Registration Rights.

          3.1 The Shares will not be registered under the Securities Act of 1933, as amended (the
"Securities Act”). Prior to registration, certificates representing the Shares shall bear a
restrictive legend substantially to the effect of the following:

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, OR APPLICABLE STATE SECURITIES LAWS, OR THE SECURITIES LAWS OF ANY OTHER
JURISDICTION. THEY MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT UNDER THOSE SECURITIES LAWS OR PURSUANT TO AN EXEMPTION
THEREFROM. ADDITIONAL RESTRICTIONS REGARDING THE TERMS UNDER WHICH THE SHARES
REPRESENTED BY THIS CERTIFICATE MAY BE CONVERTED INTO NON-VOTING COMMON STOCK OF THE
COMPANY ARE SET FORTH IN THE CERTIFICATE OF DESIGNATIONS, PREFERENCES, POWERS AND
RIGHTS OF THE SERIES 2007 PREFERRED STOCK.

          3.2 The Company has committed to register the Common Stock Underlying the Series 2008
Preferred Stock under Form SB-2 (or comparable form, the “Registration Statement”) and to make its
best efforts to have the Registration Statement declared effective at the earliest possible date.

     4. Representations and Warranties by the Company. The Company hereby represents and
warrants to the Purchaser as follows:

          4.1 The Company is a corporation duly organized, validly existing and in good standing under
the laws of the State of Delaware, and has the corporate power and authority to execute and deliver
this Agreement, to issue the Shares on the basis described herein and otherwise to perform its
obligations under this Agreement.

          4.2 The execution and delivery by the Company of this Agreement, the issuance of the Shares,
and the performance by the Company of its obligations hereunder, have been duly authorized by all
requisite corporate action on the part of the Company and will not (i) violate any provision of
law, statute, rule or regulation

 

 

or any order of any court or other agency of government, (ii) conflict with or violate the
Certificate of Incorporation (after amendment to authorize the additional shares of non-voting
common stock) or By-Laws of the Company, in each case as amended, or (iii) violate, conflict with
or constitute (with due notice or lapse of time or both) a default under any indenture, mortgage,
lease, license, agreement or other contract or instrument or result in the creation or imposition
of any lien, charge or encumbrance of any nature upon the properties or assets of the Company or
any of its subsidiaries, in each case if such violation, conflict, default, lien, charge or
encumbrance would have a material adverse effect on the Company.

     4.3 This Agreement has been duly executed and delivered by the Company and constitutes the
valid and legally binding obligation of the Company, enforceable in accordance with its terms,
except to the extent the enforceability hereof may be limited by applicable bankruptcy, moratorium
or similar laws affecting the rights of creditors generally.

4.4 Based in part upon the representations and warranties of the Purchaser contained in
this Agreement, no registration or filing with, or consent or approval of, or other
action by, any federal, state or other governmental department, commission, board,
bureau, agency or instrumentality or any third party is or will be necessary for the
execution and delivery of this Agreement by the Company and the issuance of the Shares
hereunder, other than the filing of a notice of sale on Form D with the Securities and
Exchange Commission and any other required jurisdictions in accordance with the rules
and regulations thereof under the Securities Act and applicable state law.

               4.5 The Preferred Shares are duly authorized, validly issued, fully paid and non-assessable
shares of Series 2008 Preferred Stock, and are not subject to any preemptive rights.

     5. Representations and Warranties of the Purchaser. The Purchaser hereby represents
and warrants to the Company as follows:

               5.1 The Purchaser is acquiring the Shares for its own account, for investment and not with a
view to the distribution thereof within the meaning of the Securities Act.

               5.2 The Purchaser understands that the Shares have not been registered under the Securities
Act, by reason of their issuance by the Company in transactions exempt from the registration
requirements of the Securities Act, and that the Common shares must be held by the Purchaser until
registered under the Securities Act.

               5.3 The Purchaser further understands that the exemption from registration afforded by Rule
144 (the provisions of which are known to it) promulgated under the Securities Act depends on the
satisfaction of various conditions, and that, if applicable, Rule 144 may afford the basis for
sales only in limited amounts, after compliance with the holding periods and other provisions
thereof.

               5.4 The Purchaser understands that its investment hereunder involves substantial risks and
represents and warrants that it has made such independent examinations and investigations of the
Company as it has deemed necessary in making its investment decision, and the Purchaser further
represents and warrants that it has had sufficient access to the officers, directors, books and
records of the Company as it has deemed necessary to conduct such examination and investigation and
make such investment decision. Purchaser agrees to keep confidential the confidential information
provided for the purpose of evaluating the purchase herein.

               5.5 The Purchaser is a qualified investor able to bear the economic risk of the investment
contemplated by this Agreement and has such knowledge and experience in financial and business
matters that it is capable of evaluating the merits and risks of the investment contemplated by
this Agreement.

     6. Reaffirmation of Representations and Warranties. The date Units are purchased
shall constitute a reaffirmation of each and every one of the representations and warranties of the
Company set forth in Section 5 of this Agreement and those of the Purchaser set forth in Section 6
of this Agreement as if made as of each Effective Date, unless otherwise restated or corrected by
either the Purchaser or the Company, as the case may be.

     7. Miscellaneous.

 

 

          7.1 This Agreement constitutes our entire agreement with respect to the subject matter hereof.
This Agreement may not be modified or amended or any provision hereof waived except by an
instrument in writing signed by the Company and the Purchaser.

          7.2 This Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and permitted assigns. The rights of the Purchaser hereunder shall be
assignable to any holder of the Shares. Except as provided in the immediately preceding sentence,
this Agreement and the rights of the Purchaser hereunder shall not be assignable, and any purported
assignment hereof or thereof shall be void.

          7.3 This Agreement may be executed in any number of counterparts and on separate counterparts,
each of which shall be an original instrument, but all of which together shall constitute a single
agreement. One or more signature pages from any counterpart of this Agreement may be attached to
any other counterpart of this Agreement without in any way changing the effect thereof. This
Agreement shall be effective when executed and delivered by the Company and the Purchaser.

          7.4 All notices, requests, demands, consents, waivers, or other communications made hereunder
to any party or holder of Shares shall be in writing and shall be deemed to have been duly given if
delivered personally or sent by nationally-recognized overnight courier, facsimile or by first
class registered or certified mail, return receipt requested, postage prepaid, addressed to such
party at the address set forth below:

if to the Company, to:

Axcess International Inc.

3208 Commander Drive

Carrollton, TX 75006

Attention: Chief Financial Officer

with a copy to:

Dykema

1717 Main Street, Suite 2400

Dallas, Texas 75201

FAX: 214-462-6401

Attention: Craig Ongley

if to the Purchaser:

to the Purchaser at its address first set forth above,

or to such other address as the party to whom such communication is to be given may have furnished
to the other party in writing in accordance herewith. All such notices, requests, demands,
consents, waivers or other communications shall be deemed to have been delivered (i) in the case of
personal delivery, on the date of delivery, (ii) if sent by facsimile, on the date sender receives
a confirmation confirming receipt, (iii) if sent by overnight courier, on the next business day
following the date sent and (iv) in the case of mailing, on the third business day following such
mailing.

          7.5 All representations, warranties and agreements contained herein shall survive the
execution and delivery of this Agreement and the sale of the Shares hereunder.

          7.6 This Agreement, and all rights, obligations and liabilities hereunder, shall be construed
according to the laws of the State of Texas applicable to contracts made and to be performed wholly
therein. Any judicial proceeding brought against the Company to enforce, or otherwise in
connection with, this Agreement may be brought in any court of competent jurisdiction in the City
of New York, and, by execution and delivery of this Agreement, the Company (i) accepts, generally
and unconditionally, the nonexclusive jurisdiction of such courts and any related appellate court
and irrevocably agrees to be bound by any final judgment rendered thereby in connection with this
Agreement and (ii) irrevocably waives any objection it may now or hereafter have as to the venue of
any such proceeding brought in such a court or that such a court is an inconvenient forum.

 

 

     If the foregoing correctly sets forth your understanding of our agreement, please so indicate
by signing and returning to the Company the enclosed counterpart of this Agreement.

	 	 	 	 	 
	 	Very truly yours,

AXCESS INTERNATIONAL INC.

 	 
	 	By:  	 	, 
	 	 	Allan Griebenow, Chief Executive Officer 	 
	 	 	 	 
	 

	 	 	 	 	 	 	 
	The undersigned agrees with and
accepts the foregoing terms and provisions
as of the date first above written.	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 ,	 
	 	 	  ,	 	 
	 
	 	 	 	 	 	 
	Printed Name:	 	 	, 	 
	 

	 	 	 	  ,

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