Document:

EX-10.1

 Exhibit 10.1 

SECOND AMENDMENT TO OFFICE LEASE 

This SECOND AMENDMENT TO OFFICE LEASE (“Amendment”) is made this 19th
day of February, 2015 (the “Effective Date”), by and between MLCFC 2006-4 GOLF OFFICE, LLC, an Illinois limited liability company (“Landlord”), and FLEETMATICS USA, LLC, a Delaware limited liability company
(“Tenant”). 
 RECITALS 

A. YPI 1600 CORPORATE CENTER, LLC, a Delaware limited liability company (“Original Landlord”) and Tenant entered into that
certain Office Lease dated as of October 13, 2011 (the “Original Lease”), for Suite 800 consisting of approximately 18,410 rentable square feet of space (the “Original Premises”) in the office building located
at 1600 E. Golf Road, Rolling Meadows, Illinois 60173 (the “Building”), as more fully described in the Original Lease. 

B. Tenant and Robert DeMarke, not personally, but as receiver appointed by the Circuit Court of the Nineteenth Judicial Circuit, Cook County,
Illinois, in Case No. 12 CH 26044, as successor-in-interest to Original Landlord (“Interim Landlord”), amended the Original Lease pursuant to that certain FIRST AMENDMENT TO OFFICE LEASE BETWEEN YPI CORPORATE CENTER, LLC AND
FLEETMATICS USA, LLC dated as of December 10, 2013 (the “First Amendment”, together with the Original Lease, the “Lease”) to, among other things, expand the Original Premises by an additional 9,640 rentable
square feet on the seventh (7th) and Eighth (8th) floors of the Building otherwise as specified in the First Amendment (the “Interim Premises”). 

C. Landlord is Interim Landlord’s successor-in-interest under the Lease. 

D. Landlord and Tenant now wish to amend and to modify the Lease as set forth in this Amendment. 

NOW, THEREFORE, in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which the parties hereby acknowledge the Landlord and Tenant agree as follows: 
 1. Recitals True. The recitals set
forth above are agreed to be correct and are incorporated herein. All capitalized terms used and not otherwise defined in this Amendment, but defined in the Lease, shall have the meaning set forth in the Lease. 

2. New Premises; Payment of Rent. 

(a) Tenant currently leases the Original Premises and Interim Premises from Landlord. In consideration of Landlord and Tenant agreeing to
enter into this Amendment, Landlord and Tenant have agreed that Tenant shall, in addition to leasing the Original Premises and the Interim Premises, also lease Suite 700 in the Building, with such suite consisting of approximately 14,533 rentable
square feet (the “New Premises”), as depicted on Exhibit A attached hereto. For purposes hereof, each reference to “Premises” in the Lease shall, from and 

  
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after the Delivery Date (as defined herein), be deemed to refer to the “Original Premises”, the “Interim Premises” and the “New Premises”. For purposes
hereof, the total square footage of the Premises (inclusive of the Original Premises, the Interim Premises and the New Premises) is equal to approximately 42,583 rentable square feet. 

(b) Notwithstanding anything to the contrary specified herein, Tenant hereby acknowledges and agrees that it shall pay all Rent due and
payable in connection with the Original Premises and the Interim Premises under the Lease, and shall remain liable for and shall pay any and all amounts owed by Tenant with respect thereto; provided, however, that the Base Year for such Premises,
from and after the date of this Amendment, shall be calendar year 2015. 
 3. Term. Notwithstanding anything to the contrary
specified in the Lease, the term of the Lease is hereby extended (the “Extension Term”) such the expiration date of the term shall hereinafter be referred to as May 31, 2022 (the “Termination Date”). 

4. Substantial Completion of New Premises. If Landlord is required to Substantially Complete (defined in Section 8(b)) any
Tenant Improvements or Landlord Work (defined in Section 8(a)) prior to the anticipated delivery date of April 1, 2015 (the “Delivery Date”): (1) the date set forth in the prior sentence as the
“Delivery Date” shall instead be defined as the “Target Delivery Date” by which date Landlord will use reasonable efforts to Substantially Complete the Tenant Improvements and the Landlord Work; and (2) the
actual “Delivery Date” shall be the date on which the Tenant Improvements and Landlord Work are Substantially Complete, as determined by Section 7(b). In such circumstances, the Termination Date will not be modified, amended or
changed in any way. Landlord’s failure to Substantially Complete the Tenant Improvements or the Landlord Work by the Target Delivery Date shall not be a default by Landlord or otherwise render Landlord liable for damages. 

  
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 5. Rent. Notwithstanding anything to the contrary specified in the Lease, from and after
the Delivery Date of the New Premises, Tenant agrees to pay monthly basic rent (the “Monthly Basic Rent”) for the Premises (inclusive of the Original Premises, the Interim Premises and the New Premises) as follows: 

 

																													
	 Months
	  	Annual
Rental
Rate
Per
Square
Foot	 	  	Square
Footage
for
Original
Premises	 	  	Square
Footage
for
Interim
Premises	 	  	Square
Footage
for New
Premises	 	  	Total
Aggregate
Square
Footage
of
Premises	 	  	Annual Basic
Rent	 	  	Monthly
Basic
Rent	 
	 Delivery Date - January 31, 2016*
	  	$	21.55	  	  	 	18,410	  	  	 	9,640	  	  	 	14,533	  	  	 	42,583	  	  	$	917,663.65	  	  	$	76,471.97	  
	 February 1, 2016 - January 31, 2017
	  	$	21.90	  	  	 	18,410	  	  	 	9,640	  	  	 	14,533	  	  	 	42,583	  	  	$	932,567.70	  	  	$	77,713.98	  
	 February 1, 2017 - January 31, 2018
	  	$	22.25	  	  	 	18,410	  	  	 	9,640	  	  	 	14,533	  	  	 	42,583	  	  	$	947,471.75	  	  	$	78,955.98	  
	 February 1, 2018 - January 31, 2019
	  	$	22.60	  	  	 	18,410	  	  	 	9,640	  	  	 	14,533	  	  	 	42,583	  	  	$	962,375.80	  	  	$	80,197.98	  
	 February 1, 2019 - January 31, 2020
	  	$	22.95	  	  	 	18,410	  	  	 	9,640	  	  	 	14,533	  	  	 	42,583	  	  	$	977,279.85	  	  	$	81,439.99	  
	 February 1, 2020 - January 31, 2021
	  	$	23.30	  	  	 	18,410	  	  	 	9,640	  	  	 	14,533	  	  	 	42,583	  	  	$	992,183.90	  	  	$	82,681.99	  
	 February 1, 2021 - January 31, 2022
	  	$	23.65	  	  	 	18,410	  	  	 	9,640	  	  	 	14,533	  	  	 	42,583	  	  	$	1,007,087.95	  	  	$	83,924.00	  
	 February 1, 2022 - May 31, 2022
	  	$	24.00	  	  	 	18,410	  	  	 	9,640	  	  	 	14,533	  	  	 	42,583	  	  	$	1,021,992.00	  	  	$	85,166.00	  

  

	*	Subject to the Abated Rent set forth in Section 5 below. 

  
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 6. Abated Rent. So long as Tenant is not in monetary default under the Lease and
notwithstanding anything specified in Section 4 above, Monthly Basic Rent for the first six (6) months of the Extension Term shall be abated for the “New Premises” in an aggregate amount equal to $156,593.10 (the
“Abated Rent”), which will be credit towards Tenant’s Monthly Basic Rent obligations commencing on the Delivery Date and applied on a monthly basis until exhausted. In the event Tenant defaults under any of its monetary
obligations under the Lease at any time during the Extension Term and during the continuation of such monetary default, (a) Tenant shall not be entitled to a rent credit in the amount of the Abated Rent, and (b) the Abated Rent shall be
due and payable to Landlord, without demand or notice from Landlord, as follows: 
  

					
	 Year of Extension Term
	  	Amount of Abated Rent to be Repaid to
Landlord	 
	 1
	  	$	156,593.10	  
	 2
	  	$	137,018.96	  
	 3
	  	$	117,444.83	  
	 4
	  	$	97,870.69	  
	 5
	  	$	78,296.55	  
	 6
	  	$	58,722.41	  
	 7
	  	$	39,148.28	  
	 8
	  	$	19,574.14	  

 7. Expenses and Taxes. From and after the Delivery Date (as defined herein), the section labeled
“Expenses and Taxes” in Article I of the Lease is hereby deleted in its entirety and is hereby replaced with the following: 

“Expenses and Taxes: Tenant shall pay Tenant’s Share of all Expenses and Taxes that exceed Landlord’s Base Year of 2015,
together with other items of Expense as set forth in ARTICLE 6. Tenant’s Share is 16.67% (based upon 42,583 square feet in the Premises divided by 255,440 square feet in the Project).” 

8. Tenant Improvements; Landlord’s Work; Substantial Completion. 

(a) On or before the Delivery Date, as specified herein, Landlord shall complete the work (i) specified on Exhibit B
attached hereto (the “Tenant Improvements”), and (ii) specified on Exhibit C attached hereto (the “Landlord Work”). 

(b) The Tenant Improvements and the Landlord Work shall be deemed to be “Substantially Complete” on the date that
(i) all Tenant Improvements and Landlord Work has been performed, other than any minor construction, mechanical adjustment or any other similar so called “punch list” matter, the noncompletion of which does not materially interfere
with Tenant’s use of the New Premises and (ii) Landlord has received all necessary certificates of occupancy allowing Tenant to occupy and conduct business in the New Premises. 

(c) Subject to Landlord’s obligation to complete the Tenant Improvements, the New Premises are accepted by Tenant in “as is”
condition and configuration. By taking possession of the New Premises, Tenant agrees that the New Premises are in good order and satisfactory condition, subject to any latent defects, and that, except as expressly set forth in this

  
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Lease, there are no representations or warranties by Landlord regarding the condition of the New Premises or the Building. Landlord agrees that the Tenant Improvements shall be completed in
accordance with all applicable laws and ordinances and with all building systems serving the New Permises in good working order. The New Premises shall be delivered in broom clean condition, free of personal property and debris and free of any other
tenant or occupants. Landlord agrees to use its best commercially reasonable efforts to deliver possession of the New Premises with all Tenant Improvements completed to Tenant by the Delivery Date. If, despite said efforts, Landlord is unable to
deliver possession in the condition required by the Delivery Date, Tenant shall not be obligated to pay Rent or perform its other obligations until it receives possession of the New Premises in the condition required. 

9. Temporary Premises. Landlord shall provide Tenant temporary access to approximately 4,406 rentable square feet on the 10th floor of
the Building as shown on Exhibit D attached hereto (the “Temporary Premises”). Landlord shall deliver the Temporary Premises to Tenant on January 1, 2015 (the “Temporary Premises Commencement
Date”), and Tenant shall take possession of the Temporary Premises on an “as is, where is, and with all faults” basis. Tenant shall pay no Base Rent or other rental (including any Expenses or Taxes) for the Temporary Premises
during such occupancy. Notwithstanding the foregoing, Tenant shall pay for all electricity consumed within the Temporary Premises and, as a result thereof, shall be separately billed for such usage. Tenant shall have the right to use and occupy the
Temporary Premises until one (1) week after Landlord has (i) Substantially Completed the construction of the Tenant Improvements in the New Premises, and (ii) received all necessary certificates of occupancy allowing Tenant to occupy
and conduct business therefrom. At such time as Tenant’s access to the Temporary Premises has ended, Tenant shall surrender same to Landlord in broom clean and substantially the same condition as same was delivered to Tenant, reasonable wear
and tear and damage by fire or other casualty excepted. For the avoidance of doubt, otherwise as specified herein, until such time as Tenant has vacated the Temporary Premises, the Temporary Premises shall be deemed to be included within the
definition of “Premises” and “New Premises”, respectively, for purposes of the Lease as amended hereby. 
 10. Right
of First Offer. 
 (a) Subject to the preferential rights of other tenants existing as of the date hereof and provided that as of the
date of the giving of Tenant’s Notice (as hereinafter defined) and on the date Tenant is to commence occupying the Offered Space (as defined hereafter), (x) Tenant is the tenant originally named herein (y) Tenant (or a Tenant
Affiliate) actually occupies all of the New Premises, and (z) no default or event which but for the passage of time in the giving of notice, or both, would constitute a default has occurred and is continuing under the Lease, then, if at any
time during the Term any lease for any portion of the Offered Space shall expire, the Landlord, before offering such Offered Space to anyone, other than the tenant then occupying such space (or its affiliates), shall offer to Tenant the right to
include the Offered Space within the New Premises on the same terms and conditions upon which Landlord intends to offer the Offered Space for lease. For purposes hereof, “Offered Space” shall mean any space on the sixth (6th), ninth (9th) or tenth (10th) floor of the Building that becomes open and available for lease during the Extended Term. 

  
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 (b) Such offer shall be made by Landlord to Tenant in a written notice (hereinafter called the
“First Offer Notice”) which offer shall designate the space being offered and shall specify the terms which Landlord intends to offer with respect to any such Offered Space. Tenant may accept the offer set forth in the First Offer
Notice by delivering to Landlord an unconditional acceptance (hereinafter called “Tenant’s Notice”) of such offer within ten (10) days after delivery by Landlord of the First Offer Notice to Tenant. Time shall be of the
essence with respect to giving of Tenant’s Notice. If Tenant does not accept (or fails to timely accept) an offer made by Landlord pursuant to the provisions hereof with respect to the Offered Space designated in the First Offer Notice then,
except as otherwise set forth herein, Landlord shall be under no further obligations with respect to such space by reason hereof and may lease the Offered Space designated in the First Offer Notice to any party that Landlord desires, but only upon
terms that are not Substantially More Favorable Terms. 
 (c) Tenant must accept all Offered Space offered by Landlord at any one time if it
desires to accept any of such Offered Space and may not exercise its right with respect to only part of such space. In addition, if Landlord desires to lease more than just the Offered Space to one tenant, Landlord may offer to Tenant pursuant to
the terms hereof all such space which Landlord desires to lease, and Tenant must exercise its rights hereunder with respect to all such space and may not insist on receiving an offer for just the Offered Space. 

(d) If Tenant at any time declines or fails to accept any Offered Space offered by Landlord, Tenant shall be deemed to have irrevocably waived
all further rights with respect to the Offered Space in the First Offer Notice, and Landlord shall be free to lease such Offered Space to third parties on substantially the same terms as in the First Offer Notice. 

(e) If Tenant shall have elected in accordance with and subject to the provisions of this Section 9, to lease the Offered Space,
the lease of the Offered Space shall be upon, and subject to, all of the terms, covenants and conditions provided in this Lease except (i) Tenant shall not have the right to assign its rights under this Section 9 to any subtenant of
the New Premises or assignee of this Lease (other than a Tenant Affiliate), and (ii) Base Rent for the Offered Space shall be as set forth in the First Offer Notice. 

11. Extension Option. Landlord and Tenant confirm that the Tenant’s option to extend the term of the Lease, as set forth in
Section 3.3 of the Original Lease remains in force and effect and that Tenant shall continue to have the option, subject to the conditions of said Section 3.3, commencing at the expiration of the Extension Term. 

12. Termination Option. Section 3.5 of the Original Lease is hereby deleted in its entirety and is hereby replaced with the
following: 
 “[Intentionally Deleted]” 

13. Tenant Insurance Requirements. Pursuant to Section 17 of the Original Lease, with the exception of Tenant’s
worker’s compensation insurance, Tenant shall name, or cause to be named, Landlord and its property manager as additional insureds under all insurance maintained by Tenant. 

  
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 14. Landlord’s Address. Landlord’s address for purposes of notices under the
Lease is hereby amended to be: 
  

			
	If to Landlord:	  	MLCFC 2006-4 Golf Office, LLC
		  	c/o C-III Asset Management
		  	5221 N. O’Connor Blvd., Suite 600
		  	Irving, TX 75039
		  	Attn: CMBS, REO Asset Manager

 15. Address for Rent Payments: Tenant agrees to pay all rent, without offset or deduction of any kind,
to Landlord by mail to the following address: 
  

			
		  	TRANSWESTERN
		  	Attention: Linda Lee, Property Manager
		  	1600 Golf Road, Suite 140
		  	Rolling Meadows, IL 60008

 or such other address as Landlord may specify by providing written notice thereof to Tenant. 

16. Estoppel. Tenant represents that: (a) the Lease has not been modified, supplemented or amended in any way except as
specifically set forth in this Amendment; (b) Tenant is not in arrears on any rent; (c) all work required to be performed by Landlord with respect to the current Premises under the Lease has been completed and any tenant improvement
allowances related thereto have been paid in full; (d) neither Tenant nor, to the best of Tenant’s knowledge, Landlord (nor any predecessor thereto) is in default of any obligation under the Lease, and to the best of Tenant’s
knowledge no state of facts exists which, but for notice and/or the passage of time, or both, would constitute an event of default under the Lease by Landlord; (e) Tenant has no claims, causes of action, defenses, offsets or counterclaims
against Landlord or against the rent due under the Lease; (f) Tenant has no right or option to purchase the Building, the Premises or the New Premises or any portion thereof; and (g) there has not been filed by or against Tenant a petition
in bankruptcy, any assignment for the benefit of creditors, or any other action brought pursuant to bankruptcy or similar laws with respect to Tenant. 

17. Parking. Commencing on the Delivery Date, the number of Tenant’s parking spaces set forth in Section 39.6 of the Original Lease
shall be increased such that Tenant shall have continue to have the right to use 6.5 parking spaces per 1,000 rentable square feet of premises, four of which parking spaces shall be reserved. 

18. Miscellaneous. 
 (a)
Confidentiality. Tenant shall keep in strict confidence the provisions of this Amendment (other than to its attorneys, accountants and agents or any Tenant Affiliates), subject only to any disclosure required by law or legal process, and then
only after delivering ten (10) days’ notice of such requirement to Landlord. Without limiting the foregoing, Tenant shall use its best efforts to minimize the distribution of the provisions of this Amendment among its

  
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employees and shall not discuss or otherwise communicate (whether oral or in writing) with any other tenants or occupants of the Building regarding the provisions of this Amendment and/or the
negotiation of this Amendment. 
 (b) All Other Lease Terms in Effect. Except to the extent this Lease is modified by this Amendment,
all other terms and conditions of the Lease will continue in full force and effect. In the event of a conflict between the terms of the Lease and the terms of this Amendment, the terms of this Amendment shall prevail. 

(c) Entire Agreement. This Amendment represents the entire agreement of Landlord and Tenant with respect to the subject matter hereof,
and the terms hereof shall not be amended or changed by any oral representation or agreement. To be effective, any amendments to the Lease shall be in writing and shall be executed by both parties hereto. 

(d) Counterparts. This Amendment may be executed in counterparts, including counterparts transmitted by facsimile or electronic mail,
each of which shall be deemed an original, but all of which, together, shall constitute one amendment. 
 (e) Brokers. Tenant hereby
represents to Landlord that Tenant has dealt with no broker in connection with this Amendment. Tenant agrees to indemnify and hold Landlord, its members, principals, beneficiaries, partners, officers, directors, servicers, employees, mortgagee(s)
and agents, and their respective members, principals, beneficiaries, partners, officers, directors, servicers, employees, mortgagee(s) and agents (collectively, the “Landlord Related Parties”) harmless from all claims of any brokers
claiming to have represented Tenant in connection with this Amendment. Landlord hereby represents to Tenant that Landlord has dealt with no broker other than TransWestern, in connection with this Amendment. Landlord agrees to indemnify and hold
Tenant, its members, principals, beneficiaries, partners, officers, directors, employees, and agents, and their respective members, principals, beneficiaries, partners, officers, directors, employees, and agents (collectively, the “Tenant
Related Parties”) harmless from all claims of any brokers claiming to have represented Landlord in connection with this Amendment. 

(f) Authority. Each signatory of this Amendment represents that he or she has the authority to execute and deliver the same on behalf
of the party hereto for which such signatory is acting. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties have executed this Amendment, as of the day and year first above
written. 
  

							
	LANDLORD:
	
	 MLCFC 2006-4 GOLF OFFICE, LLC,

an Illinois limited liability company

		
	By:	 	U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE, SUCCESSOR IN INTEREST TO BANK OF AMERICA, NATIONAL ASSOCIATION, SUCCESSOR BY MERGER TO LASALLE BANK NATIONAL ASSOCIATION FOR THE REGISTERED HOLDERS OF ML-CFC COMMERCIAL
MORTGAGE TRUST 2006-4, COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-4
			
		 	By:	 	C-III Asset Management LLC, a Delaware limited liability company, as successor to LNR Partners, Inc., in its capacity as special servicer pursuant to that certain Pooling and Servicing Agreement dated December 1,
2006
				
		 		 	By:	 	 /s/ Deborah A. Bacon

		 		 	Name:	 	 Deborah A. Bacon

		 		 	Title:	 	 Servicing Officer

	
	TENANT:
	
	 FLEETMATICS USA, LLC,
 a
Delaware limited liability company

		
	By:	 	 /s/ Albert J. Vasile, Jr.

	Name:	 	 Albert J. Vasile, Jr.

	Title:	 	 Assistant Treasurer

  
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 EXHIBIT A 

DEPICTION OF NEW PREMISES 

  
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 EXHIBIT B 

TENANT IMPROVEMENTS 
 1.
Responsibility for Completing Tenant Improvements. Landlord hereby approves of the preliminary conceptual plans for the Tenant Improvements as shown on the plan dated December 19, 2014 from DJ Architects, attached to this Exhibit B.
Landlord shall, at an aggregate cost, including engineering fees incurred in the preparation of the plans and specifications, not to exceed the Buildout Allowance as hereinafter defined, furnish and install within the New Premises, the Tenant
Improvements requested by the Tenant (or remove certain items including, but not limited to cabling, from the current Premises), to the extent said Tenant Improvements are approved by the Landlord in advance pursuant to the plans and specifications
prepared pursuant to Section 2 hereof. The amount of the Buildout Allowance is $789,155 (which equates to $35.00 per rentable square foot x 14,533 (square footage of the New Premises) + $10.00 per rentable square foot x 28,050 (square footage
of current Premises) (the “Buildout Allowance”). 
 2. Preparation of Plans and Specifications. Landlord shall obtain, in
consultation with Tenant, architectural working drawings for the Tenant Improvements to the New Premises prepared by Landlord’s architect (hereinafter called “Drawings”), the cost of which shall be paid separately by Landlord
and not from the Buildout Allowance. The Drawings shall include partition and door location drawings, telephone and electric drawings and reflect ceiling drawings, and include any specifications required by Tenant including, but not limited to,
paint colors, finish details, and non-standard construction work to be performed within the New Premises by the Contractor (as defined below). Tenant covenants and agrees to deliver in a timely manner, all
information necessary to cause said Drawings to be prepared in a timely manner. 
 3. Contractors. Landlord shall competitively bid
the work for the Tenant Improvements to at least three (3) general contractors. Tenant shall have the right to submit to Landlord the name of one (1) contractor to be included in bid process. Notwithstanding the immediately preceding
sentence, in order to ensure that the Landlord is able to maintain and monitor the quality of the building construction, the design intent of the systems, including warranties, guarantees, and to further protect the standards of construction
maintained in the Building, it is agreed that Landlord and Tenant shall consult with each other and work cooperatively in selecting the “final” contractor for the work relating to the Tenant Improvements (the “Contractor”). The
Contractor shall contract directly with Landlord for the performance of the Tenant Improvements. Tenant shall not pay to Landlord any fee for the supervision and coordination of the Tenant Improvements and/or the Contractor. 

4. Change Order and Excess Costs. If the Contractor’s estimate of the cost of completing the Tenant Improvements, plus the amount
of the architectural and engineering fees incurred by the Landlord in the preparation of the Drawings exceeds the Buildout Allowance, the amount that such cost exceeds the Buildout Allowance is herein referred to as the “Excess Cost.”
Tenant shall pay the Excess Costs on a pro rata basis upon Landlord’s disbursement of the Building Allowance, or at Landlord’s election, in arrears after completion of construction of the 

  
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improvements and within ten (10) calendar days after Landlord has delivered an itemized statement to Tenant outlining Tenant’s additional costs. If Tenant desires to make any change
orders, Tenant must obtain Landlord’s and the Contractor’s prior written approval of each specific change order and to the extent that such change order increases the cost of the Tenant Improvements, such increase shall also be deemed an
Excess Cost, and paid by the Tenant prior to the additional work of the change order is commenced or at the Landlord’s election, in arrears after completion of construction, and within ten (10) calendar days after Landlord has delivered an
itemized statement to Tenant outlining Tenant’s additional costs. 
 5. Scope of Work. Except as set forth in Paragraph 1 and
Paragraph 2, Landlord has no other agreement with Tenant and has no other obligation to do any other work with respect to the New Premises or the current Premises. Any other work in the New Premises or the current Premises that may be permitted by
Landlord pursuant to the terms and conditions of this Lease shall be done at Tenant’s sole cost and expense and in accordance with the terms and conditions approved by Landlord in writing in advance of such work being performed. Tenant shall
have no obligation to remove or restore any of the Tenant Improvements at the expiration or earlier termination of this Lease. 
 6.
Tenant’s Cooperation. Tenant may enter the New Premises prior to the Delivery Date in order to do such other work as may be required by Tenant to make the New Premises ready for Tenant’s use and occupancy thereof. Tenant agrees that
any such entry into and occupation of the New Premises shall be deemed to be under all of the terms, covenants, conditions and provisions of this Lease except as to the covenant to pay Base Rent or any other rent, and further agrees Landlord shall
not be liable in any way for any injury, loss or damage that may occur to any of Tenant’s work and installations made in the New Premises or to properties placed therein prior to the Delivery Date, the same being at Tenant’s sole risk. If
at any time such entry shall cause or threaten to cause such disharmony or interference, Landlord shall have the right to withdraw such permission upon twenty-four (24) hours written notice to Tenant.

 7. Delays Caused by Tenant. Tenant agrees that the following actions or inactions by the Tenant, constitute Tenant’s delays
that effect substantial completion under Article 2 of this Lease if such actions by Tenant actually delay substantial completion of the Tenant Improvements: 

a. the Tenant fails to furnish to Landlord any and all necessary information to prepare the Drawings, or 

b. the Tenant requests materials, finishes or installations other than Building Standard, or 

c. the Tenant caused changes to be made in the Drawings after they have been prepared by Landlord or in the mechanical drawings and/or
specifications thereof or work or improvements required thereby (notwithstanding Landlord’s approval of such changes), or 

  
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 d. the Tenant failed to perform timely any work to be performed by Tenant, or any person, firm or
corporation employed by Tenant, or to timely select finishes, materials or equipment, or 
 e. the Tenant directly, or indirectly through
any person, firm or corporation employed by Tenant, unreasonably interfered with or delayed the work of Contractor, or 
 f. the Tenant
caused any delay in Landlord’s completion of the New Premises through any fault or negligence of Tenant or its agents, or 
 g. the
Tenant failed to timely deposit or pay any amounts that Tenant is required to deposit or pay hereunder (which shall give Landlord the right to postpone the work). 

8. Substantial Completion/Warranties. After Landlord has determined that the Tenant Improvements have been substantially completed,
Landlord will so notify Tenant. Within three (3) business days after such notification, Tenant will inspect the improvements and provide Landlord with either Tenant’s written acceptance of the improvements, (which acceptance may include a
punch list of items to be corrected or finished by the Landlord or the contractor but which do not constitute grounds for a nonacceptance) or a written statement describing all of Tenant’s reasons for nonacceptance. Landlord disclaims and
Tenant waives all warranties, including implied warranties, with respect to the improvements. Either party may obtain warranties from the contractor or from any supplier or manufacturer of the improvements and each party will look solely to the
contractors, suppliers and manufacturers of the improvements with respect to any claims regarding the improvements. 

  
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 EXHIBIT C 

LANDLORD WORK 
 Landlord shall, at
Landlord’s sole cost and expense, re-paint and add new fixtures to the public restrooms on the seventh (7th) floor of the building. 

  
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 EXHIBIT D 

DEPICTION OF TEMPORARY PREMISES 

  
 15EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 
 THIS
EMPLOYMENT AGREEMENT (this “Agreement”) is entered into August 3, 2015 and shall be effective as of the Employee’s start date at the Company, which is anticipated to be August 31, 2015 (the
“Effective Date”), by and between Famous Dave’s of America, Inc., a Minnesota corporation (the “Company”), and Abelardo Ruiz, an individual with an address at 1357 Ashford Avenue, Apt. 156, San
Juan, PR 00907 (“Executive”). 
 WHEREAS, Executive wishes to be employed by the Company and the Company desires to
employ Executive as its Chief Operating Officer (“COO”) on the terms and conditions set forth herein to perform duties generally typical for a COO of a publicly traded company operating and conducting business in the United
States and its territories, Canada and such other countries as the Company may conduct operations and do business in during the Employment Term. 

NOW, THEREFORE, in consideration of these premises, and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged and intending to be legally bound, the parties hereto hereby agree as follows: 
 1. Employment; Employment Term.
Upon the terms and conditions hereinafter set forth, the Company hereby agrees to retain the services of Executive and Executive hereby accepts such employment and agrees to faithfully and diligently serve as directed by the Company in accordance
with this Agreement, commencing on the Effective Date and, unless terminated earlier pursuant to Section 6 of this Agreement, continuing until the close of business on four (4) year anniversary of the Effective Date (the
“Employment Term”). 
 2. Duties. 

(a) Services. During the Employment Term, Executive agrees to serve as COO of the Company and shall render his duties as COO in a
manner that is consistent with Executive’s position within the Company and as assigned by the Company’s Board of Directors (the “Board”) and/or, at the option of the Board, assigned by the Company’s Chief
Executive Officer (“CEO”). In addition to his duties as COO, Executive agrees to serve as an elected/appointed officer of the Company and Executive shall serve in such capacity without additional compensation during the
Employment Term. Executive also agrees to serve as any elected/appointed director or officer of any subsidiary of the Company that the Company may, in its sole discretion, deem fit and Executive shall serve in such capacity or capacities without
additional compensation during the Employment Term. 

 (b) Certain Obligations. During the Employment Term, Executive (i) shall devote all
of his business time and attention as shall be necessary to achieve, in accordance with the policies and directives of the Board, and/or, at the option of the Board, the CEO, established from time to time in its/their/his discretion, the objectives
of the Company, (ii) shall be subject to, and comply with, the rules, practices and policies applicable to executive employees whether reflected in an employee handbook, code of conduct, compliance policy or otherwise, as the same may exist and
be amended from time to time, of the Company; and (iii) shall not engage in any business activities other than the performance of his duties under this Agreement. Executive may have investments in other entities and act as a director for the
entities and in the capacities set forth on Exhibit A hereto, or as otherwise approved by the Board; provided that such other entities are not competitive with the Company, and provided that so acting shall not interfere with
Executive’s duties with the Company. 
 (c) Executive shall spend substantially all of his business time and attention at the
Company’s headquarters in Minnetonka, Minnesota, however his employment under this Agreement may require travel and stay outside Minnetonka, Minnesota and the United States in order to fulfill his duties hereunder. 

3. Compensation. For the services rendered herein by Executive, and the promises and covenants made by Executive herein, during the
Employment Term the Company shall pay compensation to Executive as follows. 
 (a) Base Salary. The Company shall pay to Executive
the sum of TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000) as an annual salary (the “Base Salary”), payable in accordance with the normal payroll practices of the Company. 

(b) Bonus. Executive shall be eligible to receive a discretionary annual bonus, which shall be determined by the Board in its sole
discretion (the “Bonus”) based upon Executive’s achievement of milestones, with said milestones determined by the Board (and recorded in the minutes of the meeting of the Board), with input from Executive, prior to the
commencement of each fiscal year (the “Milestones”) , and (b) the value all other compensation received by Executive for such fiscal year, as determined by the Board in its sole discretion; provided however that
for the initial twelve (12) months of the Employment Term there will be no Milestones established (the initial set of Milestones will be determined in 2016) and Executive shall be entitled to a minimum guaranteed Bonus equal to not less than
20% of his Base Salary (“Guaranteed First Year Bonus”). The achievement of the Milestones will be determined by the Board in its reasonable discretion. The targeted amount of each Bonus is expected to be in the range of 20%
to 30% of Base Salary, although the Board may determine that it is appropriate in certain instances to increase or decrease the Bonus outside of this range. If the Employment Term ends prior to the one (1) year anniversary of the Effective
Date, the Guaranteed First Year Bonus shall be prorated based upon the number of days worked versus the standard twelve (12) month year. The annual Bonus for the partial year of 2016 (the portion of the year worked following the Guaranteed
First Year Bonus period), if any, shall be prorated based upon the number of days worked versus the standard calendar year. The Company shall have the right to condition the payment of any Bonus on Executive’s contemporaneous execution of a
reasonable document acceptable to the Company pursuant to which Executive confirms, ratifies and agrees that his obligations under Section 5 are valid and binding and are enforceable against Executive in accordance with the terms of
Section 5. Any Bonus amounts shall be paid at the same time as annual bonuses are paid to the Company’s other executive officers, but no later than the end of the year following the year in which the Bonus was earned; provided
however that with respect to the Guaranteed First Year Bonus, 5/12ths of the Guaranteed First Year Bonus shall be paid to the Executive in December 2015 and balance of the Guaranteed First Year Bonus shall be paid in July 2016. 

  
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 (c) Equity Grants. The Company shall grant to Executive stock options (the
“Options”), exercisable for 71,324 shares of the Company’s common stock (“Common Stock”). The Options shall be granted pursuant to and governed by the terms of the Company’s 2015 Equity
Incentive Plan, as amended from time to time (the “Plan”) and evidenced by a separate notice of stock option grant along with an accompanying stock option agreement between Executive and the Company. The exercise price of the
Options shall be no less than the fair market value of the shares of Common Stock on the date of grant, as determined in good faith by the Board. Subject to the accelerated vesting described herein and Executive remaining continuously employed by
the Company on each vesting date (“Continuous Service Status”), the Options shall vest in equal ratable installments on the monthly anniversary of the Effective Date over the Employment Term (the first vesting date being on
the one (1) month anniversary of the Effective Date hereof). Notwithstanding anything to the contrary set forth in the Plan, the Options shall have the following terms: 

(i) In the event of a Change of Control (as defined below) during the Employment Term in which the acquiring company or
successor company opts not to assume this Agreement, the vesting of the Options will accelerate such that the Options shall be fully vested and exercisable immediately prior to such Change of Control; 

(ii) In the event of a Corporate Transaction (as defined in the Plan), at the option of the Board in its sole discretion,
Executive shall exercise the Options or such failure to exercise will result in the Options terminating immediately prior to such Corporate Transaction; 

(iii) In the event of a Corporate Transaction, in exchange for the termination of the Options the Board in its sole discretion
may make a cash payment to Executive in an amount equal to the product obtained by multiplying (x) the amount (if any) by which the transaction proceeds per share exceed the exercise price per share covered by the Option times (y) the
number of shares of Common Stock covered by the Option; 
 (iv) The Options will terminate if not exercised within six
(6) months of Executive’s termination from the Company for any reason; and 
 (v) The Options shall expire on the
five (5) year anniversary of the date of grant. 

  
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 (d) No Additional Compensation. Except for compensation set forth in this Agreement,
Executive shall not receive additional compensation in connection with providing services to or holding executive or directorial office(s) in the Company or any of its subsidiaries unless otherwise agreed to by Executive and the Company in the
Company’s sole discretion. 
 (e) Change of Control. For purposes of this Agreement “Change of Control”
shall mean any of the following: 
 (i) Any individual, entity or group (within the meaning of Section 13(d)(3) or
14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (a “Person”) becomes the beneficial owner (within the meaning of Rule 13d 3 promulgated under the Exchange Act) of 50%
or more of either (A) the then-outstanding shares of Common Stock (the “Outstanding Company Common Stock”) or (B) the combined voting power of the then-outstanding voting securities of the Company entitled to vote
generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that, for purposes of this definition, the following acquisitions shall not constitute a Change in Control:
(A) any acquisition directly from the Company, (B) any acquisition by the Company, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any affiliated company, or (D) any
acquisition pursuant to a transaction that complies with Sections 3(e)(ii)(1), 3(e)(ii)(2) and 3(e)(ii)(3) below; 
 (ii)
Consummation of a reorganization, merger, statutory share exchange or consolidation or similar transaction involving the Company or any of its subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company, or the
acquisition of assets or stock of another entity by the Company or any of its subsidiaries (each, a “Business Combination”), in each case unless, following such Business Combination, (1) all or substantially all of the
individuals and entities that were the beneficial owners of the Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 60% of
the then-outstanding shares of common stock (or, for a non-corporate entity, equivalent securities) and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors (or, for a
non-corporate entity, equivalent governing body), as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns the Company or all or substantially
all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and the Outstanding
Company Voting Securities, as the case may be, (2) no Person (excluding any corporation resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business
Combination) 

  
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beneficially owns, directly or indirectly, 50% or more of, respectively, the then-outstanding shares of common stock of the corporation resulting from such Business Combination or the combined
voting power of the then-outstanding voting securities of such corporation, except to the extent that such ownership existed prior to the Business Combination, and (3) at least a majority of the members of the board of directors (or, for a
non-corporate entity, equivalent governing body) of the entity resulting from such Business Combination were members of the Incumbent Board (as defined in the Plan) at the time of the execution of the initial agreement or of the action of the Board
providing for such Business Combination; or 
 (iii) Approval by the shareholders of the Company of a complete liquidation
or dissolution of the Company. 
 Notwithstanding the foregoing definition or any other provision of the Plan the term Change in Control will not include a
sale of assets, merger or other transaction effected exclusively for the purpose of changing the domicile of the Company; provided, however, that no Change in Control shall be deemed to occur upon announcement or commencement of a tender
offer or upon a potential takeover or upon shareholder approval of a merger or other transaction, in each case without a requirement that the Change in Control actually occur. If required for compliance with Section 409A of the Internal Revenue
Code of 1986, as amended (the “Code”), in no event will a Change in Control be deemed to have occurred if such transaction is not also a “change in the ownership or effective control of” the Company or “a
change in the ownership of a substantial portion of the assets of” the Company as determined under Treasury Regulation Section 1.409A-3(i)(5) (without regard to any alternative definition thereunder). The Board may, in its sole discretion
and without Executive’s consent, amend the definition of “Change in Control” to conform to the definition of “Change in Control” under Section 409A of the Code, and the regulations thereunder. 

4. Benefits. 
 (a)
Vacation. During Employment Term, Executive shall also be eligible to receive paid time off (“PTO”) as outlined in the Company’s PTO program. 

(b) Other Benefits. During the Employment Term, Executive will be eligible to participate in the Company’s benefit plans that are
currently and hereafter maintained by the Company and for which he is eligible including, without limitation, group medical, 401k, life insurance and other benefit plans (the “Benefits”). The Company reserves the right to
cancel or change at any time the Benefits that it offers to its employees. 

  
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 (c) Expenses. During the Employment Term, Executive shall be reimbursed for reasonable
(travel and other) expenses incurred (including Executive’s reasonable travel expenses incurred in commuting to the Company’s headquarters prior to his move from his current residence to permanent housing within commuting distance of the
Company’s headquarters (the “Relocation”)) by Executive in the furtherance of or in connection with the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy
as in effect from time to time. Executive agrees to provide detailed backup of any expenses and indicate on any submission for reimbursement those expenses that relate to meals and entertainment. 

(d) Living Allowance. To subsidize Executive’s housing expenses prior to the Relocation the Company agrees to reimburse Executive
for his temporary residence within commuting distance to the Company’s headquarters in an amount up to $3,000 per month (the “Living Allowance”); provided that such Living Allowance shall terminate upon the first
to occur of: (x) the one (1) year anniversary of the Effective Date, (y) the date of his Relocation, and (z) the date of Executive’s termination as an employee of the Company for any reason. 

(e) Relocation Reimbursement. In addition, the Company shall pay (either by reimbursement of Executive or by direct payment, as
determined by the Company) up to $10,000 in moving expenses for Executive’s Relocation, for only those Relocation related expenses that: (A) Executive has incurred within twelve (12) months after the Effective Date, so long as
Executive is employed by the Company, and (B) are reasonably connected to Executive’s Relocation (the “Eligible Relocation Expenses”). Executive agrees to provide detailed backup of any Eligible Relocation Expenses.

 (f) Transportation. During the Employment Term, the Company shall lease or reimburse Executive for (at the Company’s option)
the lease of a car for Executive; provided however that the aggregate lease payments and other car related costs (including insurance, maintenance etc.) for such car shall not exceed $10,000 annually. Gasoline and tolls shall be reimbursed in
accordance with Company policy. 
 (g) Telephone; Computer. During the Employment Term, the Company shall provide Executive with a computer
and cell phone (or reimburse Executive for the costs of a computer and/or a cell phone). 
 5. Non-Disclosure of Information, Assignment
of Intellectual Property, and Restrictive Covenants. Executive acknowledges that the Company is in the business of developing, owning, operating and franchising barbeque restaurants globally, with a focus on the United States, the Commonwealth
of Puerto Rico, and in Canada; that the Company has and will develop and assemble extensive “know-how” and trade secrets relating to its business, the business of its franchisees and the business of its suppliers and has developed an
extensive relationship with its franchisees, suppliers and customers. During Executive’s employment with the Company, Executive will have access to such trade secrets and relationships and other proprietary information of the Company. Executive
agrees to protect the Company’s Confidential Information (as defined below) as provided in this Section 5. 

  
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 (a) Confidential Information. Executive agrees to enter into and remain bound by the
Company’s Employee Confidentiality Agreement (the “Employee Confidentiality Agreement”) and the Company’s Information Technology and Data Security Policy, as amended from time to time (the “”Data
Security Policy”). 
 (b) Assignment of Intellectual Property. Executive agrees to assign and hereby assigns to the
Company (the “Assignment”) any and all rights, improvements and copyrightable or patentable subject matter, know-how, and other intellectual property relating to the Company’s business (or any of its subsidiaries’
businesses) which Executive conceived or developed, or may conceive or develop, either alone or with others, or which otherwise arose or may arise during Executive’s employment with the Company and for a period of nine (9) months
thereafter (“Assignable Property”). Executive shall promptly disclose to the Company all Assignable Property. Executive agrees not to assert any rights against the Company (or any of its subsidiaries) or seek compensation
from the Company (or any of its subsidiaries) for the foregoing Assignment or the Company’s (or any of its subsidiaries) use of Assignable Property. Executive shall promptly disclose to the Company all knowledge that Executive has or obtains
regarding Assignable Property and, at the request of the Company, Executive shall, at the sole cost and expense of the Company, provide the Company with whatever assistance that the Company may request of Executive including, but not limited to:
(i) signing documents to further evidence and perfect an Assignment; (ii) obtaining for the Company patents, trademarks and trademark protection, copyrights and copyright protection, assignment of rights, and protection of trade secrets;
and (iii) taking any other action the Company deems appropriate for securing or protecting its rights in Assignable Property or other intellectual property of the Company or its subsidiaries. If such assistance is requested after termination of
the Employment Term, the Company shall reimburse Executive for his reasonable expenses in connection therewith and pay Executive a $750 per diem for his time. 

(d) Non-Solicitation. During the Employment Term and for a period of eighteen (18) months thereafter, Executive shall not, whether
for his own benefit or that of any other individual, partnership, firm, corporation, or other business organization, directly or indirectly: (i) solicit or attempt to induce any employee of the Company or any of its subsidiaries (an
“Employee”) to leave his/her employment with the Company or in any way interfere with the relationship between or among the Company and any Employee; (ii) hire any person who was an Employee at any time during the
Employment Term, or (iii) induce or attempt to induce any supplier, licensee, franchisee or other business relation of the Company (collectively, the “Partners”) to limit or reduce his, her or its relationship with the
Company including, without limitation, making any negative or disparaging statements or communications regarding the Company or any of its Employees or Partners (collectively, “Soliciting”). 

  
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 (e) Non-Compete. During the Employment Term and (i) if the Employee’s employment
was terminated by the Company other than for Cause, or by the Employee for Good Reason, during the Severance Period (as defined below), and (ii) if the Employee’s employment was terminated by the Company for Cause or by the Employee not
for Good Reason, for twelve months following the date of termination of the Employment Term, Executive shall not (whether as an employee, consultant, agent, proprietor, principal, partner, stockholder, corporate officer, director or otherwise)
directly engage, own, have an interest, or participate in the financing, operation, management or control of any person, firm, corporation or business whose primary business is the retail sale of barbeque format food or whose restaurant business
derives a majority (i.e. 50% or more) of its food-related revenues from the sale of barbeque type food or barbeque-related products, other than as a stockholder with less than one percent (1%) of the outstanding common stock of a publicly
traded company. The foregoing covenant shall cover Executive’s activities in the United States and its territories (including for the avoidance of doubt Puerto Rico), in Canada and in any other country in which the Company does business during
the Employment Term. 
 (f) Equitable Relief. In the event of a breach of or threatened breach by Executive of the provisions of this
Section 5, the Company shall be entitled to an injunction restraining Executive from violating these covenants. Any breach or threatened breach of such provisions will cause irreparable injury to the Company and that money damages will
not provide an adequate remedy therefor, and Executive hereby consents to the issuance of an injunction and to the ordering of such specific performance in the event the Company seeks injunctive relief and agrees that the Company shall be entitled
to recover reasonable costs and attorneys’ fees in connection therewith. Executive further agrees that no bond or other security shall be required in obtaining such equitable relief, nor will proof of actual damages be required for such
equitable relief. 
 (g) Tolling. In the event of a breach by Executive of any covenant set forth in this Section 5, the
period of time applicable to such covenant shall be extended by the duration of any violation by Executive of such covenant. 
 6.
Termination; Severance Payments; Etc. 
 (a) At-Will Employment. Executive and the Company agree that Executive’s
employment is at-will and that either Executive or the Company may terminate Executive’s employment, at any time, with or without any cause, with no prior notice; provided however that each party shall remain bound by the terms and provisions
of this Agreement that survive the termination in accordance with Section 9(i). 
 (b) Termination By Company Without Cause
or by Executive With Good Reason; Accrued Obligations. 

  
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 (i) If Executive’s employment with the Company is terminated by the Company
for any reason (for the avoidance of doubt, a termination of Executive by the Company within six (6) months after a Change of Control (as defined below) shall be deemed a not for Cause termination) other than Cause, death or Disability (as
defined below) or if Executive resigns for Good Reason (a defined below), so long as Executive has signed (and at no time revokes) a Release Agreement (as defined below), then, subject to Executive continuing to fulfill his obligations under
Section 5 hereof, Executive shall be entitled to receive (and paid periodically in accordance with the Company’s normal payroll policies): 

(x) If termination occurs prior to the two (2) year anniversary of the Effective Date, continuing payments of Base
Salary for a period equal to twelve (12) months from the termination date; or 
 (y) If termination occurs on or after
the two (2) year anniversary of the Effective Date, continuing payments of Base Salary for a period equal to the lesser of: (1) six (6) months after such termination; or (2) the remainder of what would have been the Employment
Term had the Executive had not been terminated ((x) or (y) , as applicable, the “Severance Period”); 

provided however, at its option and in its sole discretion, the Company shall, so long as it continues to make payments of Base Salary
to Executive, have the right to extend the length of the Severance Period for an additional period of time, provided that the entire Severance Period shall in no event exceed twelve (12) months in total. The payments made or payable to
Executive under this Section 6(b)(i) shall be hereinafter referred to as the “Severance Payments”. 

(ii) Regardless of the reason for Executive’s termination from the Company, the Company shall pay Executive, or in the
case of Executive’s death, his estate, (A) any portion of the Base Salary that has accrued but not been paid through the date of such termination, and (B) all accrued vacation, expense and housing reimbursements due to Executive
through the date of termination (if any) (collectively the “Accrued Obligations”). 
 (c) Definitions. 

(i) As used herein, “Cause” for the Company to terminate this Agreement shall mean:
(1) Executive’s indictment for, conviction of, or plea of guilty or nolo contendere, to a felony, a misdemeanor involving fraud or dishonesty, or any crime involving moral turpitude, (2) an act of personal dishonesty taken by
Executive in connection with his responsibilities hereunder or in connection with his position at the Company, (3) an act taken by Executive that constitutes willful misconduct or gross negligence in the performance of Executive’s duties,
(4) any breach by Executive of this Agreement, (5) Executive’s repeated and unexplained or unjustified absence from the Company, or (6) Executive’s failure to substantially perform his duties or comply with any written
reasonable directive from the Board, and, if such failure is curable, failure to cure such failure within twenty one (21) days after receipt of written notice thereof. 

  
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 (ii) As used herein, “Disability” means Executive being
unable to perform the principal functions of his duties in a reasonable manner due to a physical or mental impairment, but only if such inability has lasted or is reasonably expected to last for at least sixty (60) consecutive calendar days or
ninety (90) non-consecutive calendar days of any twelve month (12) period and, whether Executive has a Disability will be determined by the Company. 

(iii) As used herein, “Good Reason” for Executive to terminate this Agreement shall mean (1) any
material reduction by the Company in Executive’s Base Salary, (2) any material diminution in Executive’s position or duties, or (3) any material breach by the Company of this Agreement, including its obligations to pay Executive
his Base Salary, not cured by the Company in accordance with Section 6(d) below. In no event will Executive have Good Reason to terminate the Agreement if he resigns more than three (3) months following the initial existence of the
condition that constitutes Good Reason. 
 (d) Termination Process. Either party may terminate this Agreement during the
Employment Term; provided, however, that if such termination is by the Company for Cause or by Executive for Good Reason, the terminating party shall give the non-terminating party a written notice providing reasonable notice and detail of
the alleged Cause or Good Reason, as the case may be, and the non-terminating party shall have twenty-one (21) days following such notice to cure such Cause or Good Reason. Notwithstanding the foregoing, the Company shall not be required to
give Executive the right to cure any act of Cause as set forth in Sections 6(c)(i)(1), (2), (3) or (6). If the Company terminates Executive’s employment with Cause, it shall have no liability to Executive other
than to pay him the Accrued Obligations. 
 (e) Release Agreement. The Company’s obligation to make any of the Severance
Payments contemplated herein shall be conditioned upon the execution by Executive and the Company of a valid release agreement (the “Release Agreement”) to be prepared by the Company and agreed to by Executive, pursuant to
which Executive shall release the Company, to the maximum extent permitted by law, from any and all claims he may have against the Company that relate to or arise out of Executive’s employment or termination of employment, except for claims
arising under the Release Agreement. The Company’s initial draft of the Release Agreement shall be delivered to Executive no later than five (5) days following the date of Executive’s termination of employment. The Severance Payments
shall begin to be paid to Executive on the first payroll date after the end of the fifty (50) day period following his termination of employment; provided that Company has received a Release Agreement that is properly executed by
Executive and is not revoked within the revocation period set forth in the Release Agreement. Executive shall forfeit all rights to the Severance Payments unless such Release Agreement is signed and delivered within twenty (20) days following
the date of Executive’s termination of employment. 

  
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 7. Representations. 

(a) Executive represents that his performance of all the terms of this Agreement will not breach any agreement to keep in confidence
proprietary information acquired by him in confidence or in trust prior to his employment by the Company. Executive hereby represents and warrants that he has not entered into, and will not enter into, any oral or written agreement in conflict
herewith. 
 (b) Executive hereby represents that, as of the Effective Date, Executive shall not be subject to any other agreement that
Employee will violate by working with the Company or in the position for which the Company has hired Executive. Further, Executive represents that no conflict of interest or a breach of Executive’s fiduciary duties will result by working with
and performing duties for the Company. 
 (c) Executive further acknowledges and agrees that he has carefully read this Agreement and that
he has asked any questions needed for him to understand the terms, consequences and binding effect of this Agreement and fully understands it and that he has been provided an opportunity to seek the advice of legal counsel of his choice before
signing this Agreement. 
 (d) Executive further agrees during the Severance Period to provide a prompt response to Company in the event
Company requests non-confidential information connected to Executive’s subsequent employment after ceasing to be an employee of Company. 

(e) Executive represents and warrants that he is not currently involved, directly or, to his knowledge, indirectly, in any litigation as a
defendant or as a party subject to any counterclaims, nor is any such litigation threatened against Executive, directly or indirectly. 
 8.
Background Verification. The Company has requested from an independent reviewer a complete background report with respect to Executive and the Company has approved such background report. 

9. Miscellaneous. 
 (a)
Notices. All notices, requests, consents and other communications hereunder (i) shall be in writing, (ii) shall be effective upon receipt, and (iii) shall be sufficient if delivered personally, electronically with receipt
confirmation, or by mail, in each case addressed as follows: 
 If to the Company: 

Suite 200 
 12701 Whitewater
Drive Minnetonka, MN 55343 
 Attn: Adam Wright 

  
 11 

 Email: Adam.Wright@famousdaves.com 

If to Executive: 

Abelardo Ruiz 
 To
Executive’s most recent residential address known by the Company or any other address Executive may provide to the Company in writing. 

With copy to: 
 Jorge M. Ruiz
Montilla, Esq. 
 270 Munoz Rivera Avenue 

9th Floor 

San Juan, PR 00918 
 Email:
jmrm@mcvpr.com 
 (b) Entire Agreement. This Agreement and the Employee Confidentiality Agreement (the terms of which are
incorporated herein and made a part of this Agreement) constitutes the entire agreement by and between the parties with respect to the subject matter contained herein and supersedes all prior agreements or understandings, oral or written, with
respect to the subject matter contained herein. Notwithstanding the foregoing, Executive shall remain subject to and bound by the Data Security Policy, any employee handbook and any other employee policies adopted from time to time. 

(c) Amendments; Waivers; Etc. This Agreement may not be altered, amended or modified in any manner, nor may any of its provisions be
waived, except by written amendment executed by the parties that specifically states that they intended to alter, amend or modify this Agreement or waive a right hereunder. Any such waiver, alteration, amendment or modification shall be effective
only in the specific instance and for the specific purpose for which it was given. No remedy herein conferred upon or reserved by a party is intended to be exclusive of any other available remedy, but each and every such remedy shall be cumulative
and in addition to every other remedy given under this Agreement or in connection with this Agreement and now or hereafter existing at law or in equity. 

(d) Governing Law and Jurisdiction. Except as provided otherwise in Section 9(k), this Agreement shall be construed and enforced
in accordance with the laws of the State of Minnesota without regard to the principle of the conflict of laws. Any dispute arising in connection with this Agreement may be adjudicated by binding arbitration pursuant to the rules of the American
Arbitration Association, before a single arbitrator in Minneapolis, Minnesota except that the foregoing shall not preclude the Company or Executive from enforcing the award of the arbitrators in a state or Federal Court located in the State of
Minnesota, and each of the parties hereto consent to the jurisdiction of such Courts. 

  
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 (e) Successors and Assigns. Neither this Agreement nor any rights or obligations hereunder
are assignable by Executive. The Company shall have the right to assign its rights and obligations under this Agreement to any affiliate or successor of the Company. This Agreement will be binding upon and inure to the benefit of (a) the heirs,
executors and legal representatives of Executive upon Executive’s death and (b) any successor of the Company. Any such successor of the Company (including but not limited to any person or entity which at any time, whether by purchase,
merger or otherwise, directly or indirectly acquires all or substantially all of the assets or business of the Company) will be deemed substituted for the Company under the terms of this Agreement for all purposes. 

(f) Waiver of Jury Trial. TO THE FULLEST EXTENT PERMITTED BY LAW, THE PARTIES HERETO HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY
TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY DEALINGS AMONG THEM RELATING TO THE SUBJECT MATTER OF THE TRANSACTIONS CONTEMPLATED HEREBY. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY
AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT OR WITH ANY ARBITRATOR AND THAT RELATE TO THE SUBJECT MATTER OF THIS AGREEMENT, INCLUDING WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY
CLAIMS. THE PARTIES HERETO ACKNOWLEDGE THAT (I) THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, (II) EACH HAS ALREADY RELIED ON THE WAIVER IN ENTERING INTO THIS AGREEMENT AND (III) EACH WILL CONTINUE TO RELY ON THE
WAIVER IN THEIR RELATED FUTURE DEALINGS. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING, AND THE WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT
OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THE TRANSACTIONS CONTEMPLATED HEREBY. EACH OF THE PARTIES AGREES THAT THE PREVAILING PARTY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY SHALL BE ENTITLED TO RECOVER ITS REASONABLE FEES AND EXPENSES IN CONNECTION THEREWITH, INCLUDING LEGAL FEES. 
 (g)
Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, and all of which together shall constitute one and the same instrument. 

  
 13 

 (h) Severability. Executive acknowledges that the provisions, restrictions and time
limitations contained in Section 5 are reasonable and properly required for the adequate protection of the business of the Company and that in the event such restriction or limitation is deemed to be unreasonable by any court of
competent jurisdiction, then Executive agrees to submit to the reduction of said restriction and limitation to such as any such court may deem reasonable. If any particular provision of Section 5 shall be adjudicated to be invalid or
unenforceable, such provision shall be considered to be divisible with respect to scope, time and geographic area, and such lesser scope, time or geographic area, as a court of competent jurisdiction may determine to be reasonable, not arbitrary and
not against public policy, shall be effective, binding and enforceable against Executive. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement will
continue in full force and effect without said provision. 
 (i) Survival. Any termination of Executive’s employment and any
expiration or termination of the Employment Term under this Agreement shall not affect the continuing operation and effect of Sections 5, 6 and 9 hereof, which shall continue in full force and effect with respect to the Company
and its successors and assigns and respect to Executive. 
 (j) Tax Withholding. All payments made pursuant to this Agreement will be
subject to withholding of applicable taxes. 
 (k) Internal Revenue Code Section 409(A). The intent of the parties is that
payments and benefits under the Agreement comply with or be exempt from Section 409A of the Code and the regulations and guidance promulgated thereunder (“Section 409A”) and, accordingly, to the maximum extent permitted
the Agreement shall be interpreted to be in compliance therewith or exempt therefrom. To the extent any such cash payment or continuing benefit payable upon Executive’s termination of employment is nonqualified deferred compensation subject to
Section 409A, then, only to the extent required by Section 409A, such payment or continuing benefit shall not commence until the date which is six (6) months after the date of separation from service, and any previously scheduled
payments shall be made in a lump sum (without interest) on that date. For purposes of Section 409A, the phrase “termination of employment” (or other words to that effect), as used in this Agreement, shall be interpreted to mean
“separation from service” as defined under Section 409A. 
 (l) Golden Parachute Limitation (Sec. 280G).
Notwithstanding anything to the contrary contained herein, if any payments or benefits provided under this Agreement constitute “parachute payments” within the meaning of Section 280G of the Code (the “Parachute
Payments”) and such Parachute Payments are subject to the excise tax imposed by Section 4999 of the Code or nondeductible under Code Section 280G (“Section 280G”) , then the Parachute Payments shall be
reduced to an amount such that the aggregate of the Parachute Payments does not exceed 2.99 times the “base amount,” as defined in Section 280G, provided that the foregoing reduction shall not take place if, prior to the date of the
change in ownership or control of the Company, the Parachute Payments shall have been approved in a vote satisfying the requirements of Section 280G(b)(5) of the Code by persons who, immediately before the change in ownership or control, own
more than seventy-five (75%) of the voting power of all outstanding stock of the Company. 

  
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 (m) Section Headings. The headings of the sections and subsections of this Agreement are
inserted for convenience only and shall not be deemed to constitute a part thereof, affect the meaning or interpretation of this Agreement or of any term or provision hereof. 

[REMAINDER OF PAGE INTENTIONALLY BLANK; SIGNATURE PAGE FOLLOWS] 

  
 15 

 IN WITNESS WHEREOF, the parties have executed this Employment Agreement as of the date first set
forth above. 
  

			
	 FAMOUS DAVE’S OF AMERICA, INC.
	  	EXECUTIVE:
		
	 By: /s/ Adam J.
Wright                                
	  	/s/ Abelardo
Ruiz                                    
	 Name: Adam J. Wright
	  	ABELARDO RUIZ
	 Title CEO
	  	

  
 16 

 Exhibit A 

Commitments and or Investments: 
  

	 	1)	Vice President, Board of Directors, San Juan Community Library: A non-for-profit Community Library in San Juan. Mr. Ruiz does this on a voluntary basis and receives no monetary or any other kind of benefits from
this. 

  

	 	2)	General Investments in Life Insurance and Annuities with AXA Financial Advisers

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