Document:

Restricted Stock Agreement

 Exhibit 10.11 
  
 GORDON BIERSCH BREWERY RESTAURANT GROUP, INC. 
 RESTRICTED STOCK AGREEMENT 
  
 This Restricted Stock Agreement (the “Agreement”), dated as of September 15, 2005 (the “Award Date”), is made between Gordon Biersch Brewery Restaurant Group, Inc., a Tennessee
corporation (the “Company”) and John Leonard (the “Participant”). 
  
 1. Award of Shares. In consideration of continued service to the Company as an employee, the Company hereby awards to the Participant, 2,400 shares
(the “Shares”) of the Company’s common stock, no par value per share (the “Common Stock”), which shares are restricted and subject to forfeiture on the terms and conditions hereinafter set forth and in the
Company’s 2005 Stock Incentive Plan (the “Plan”). 
  
 2. The Plan. The Plan, a copy of which is available by contacting the Company’s Secretary or the then current administrator of the Plan (the “Plan Administrator”), is incorporated herein by reference and is made
a part of this Agreement as if fully set forth herein. This Agreement is subject to, and the Company and the Participant agree to be bound by, all of the terms and conditions of the Plan as the same exists at the time into which this Agreement was
entered. The Plan shall control in the event there is any express conflict between the Plan and the terms hereof, and on such matters that are not expressly covered in this Agreement. Subsequent amendments to the Plan shall not adversely affect the
Participant’s rights under this Agreement. 
  
 3.
Termination of Employment/Leaves of Absence. 
  
 (a) Vesting. If the service of the Participant with the Company is terminated for any reason, then the Shares which have not vested shall be forfeited. The Shares awarded under this Agreement shall vest at the rate of 25% of the
total shares on October 27, 2005; 25% of the total shares on October 27, 2006; 25% of the total shares on October 27, 2007; and the remaining 25% of the total shares on October 27, 2008; provided Participant is actively employed
by the Company on such dates, but subject in each case to the terms and conditions in this Agreement and in the Plan. 
  
 (b) Leaves of Absence. The Company’s obligation to vest Shares pursuant to this Agreement may be suspended during a leave of
absence as provided from time to time according to Company policies and practices. 
  
 (c) Death or Disability. If the Participant dies or becomes disabled (within the meaning of Section 22(e) (3) of the
Internal Revenue Code of 1986, as amended (the “Code”)) prior to October 27, 2008, while he or she is actively employed by the Company, then any Shares that could otherwise have vested to Participant in the future under this
Agreement shall be vested to Participant, Participant’s legal representative (in the event of legal incapacity) or to the person to whom the Shares are transferred by will or the laws of descent or distribution, as soon as administratively
practicable. 
  
 4. Non-transferability of Agreement. This
Agreement is personal and neither the Shares nor any rights hereunder may be transferred, assigned, pledged or hypothecated by 

 
Participant in any way (whether by operation of law or otherwise), other than by will or the laws of descent and distribution, nor shall any such rights be
subject to execution, attachment or similar process. Upon any attempt by Participant to transfer, assign, pledge, hypothecate or otherwise dispose of Participant’s rights under this Agreement contrary to the provisions hereof, or upon the levy
of any attachment or similar process upon such rights, any such rights shall, at the election of the Company, become null and void. 
  
 5. No Special Employment Rights. Nothing contained in the Plan or in this Agreement shall be construed or deemed by any person under any
circumstances to bind the Company or any Parent Corporation or any Subsidiary (as such terms are defined in the Plan) to continue the employment of the Participant. During the period of the Participant’s employment, the Participant shall render
the services which are assigned to the Participant from time to time by the Board of Directors of the Company or the executive officers of the Company or any Parent Corporation or Subsidiary and shall at no time take any action which directly or
indirectly would be inconsistent with the best interests of the foregoing entities. 
  
 6. Tax Consequences. 
  
 (a) As vesting restrictions lapse, the Company shall cause certificates for Shares to be delivered to Participant with such legends and restrictions that the Company determines to be appropriate; provided that if any
law or regulation requires the Company to take any action with respect to such Shares before the delivery thereof, then the date of delivery of such Shares will be extended for the period necessary to complete such action. 
  
 (b) Notwithstanding Section 6(a), no such
certificate shall be delivered to Participant unless and until Participant shall have paid to the Company the full amount of the minimum statutory withholding based on the minimum statutory withholding rates under applicable tax laws, including
payroll taxes resulting from the grant of the Shares or the lapse or removal of restrictions thereon (the “Tax Obligations”). Participant hereby agrees to satisfy the Tax Obligations by hereby authorizing the Company to withhold
from other cash compensation of the Participant or the Shares otherwise deliverable pursuant to this Agreement, a number of shares of Common Stock having a fair market value (as determined by the Company, in its sole discretion) less than or equal
to the Tax Obligations. The number of shares tendered by Participant pursuant to this Section 6(b) shall be determined by the Company and be valued at the fair market value of the Common Stock on the date the Tax Obligations arise (as
determined by the Company, in its sole discretion). To the extent that the number of shares tendered by Participant pursuant to this Section 6(b) is insufficient to satisfy the Tax Obligations, Participant hereby agrees to pay the
Company, in cash or by check, the additional amount necessary to fully satisfy the Tax Obligations. Participant agrees to take any further actions and execute any additional documents as may be necessary to effectuate the provisions of this
Section 6. 
  
 (c) The Participant
understands and acknowledges that the grant of Shares hereunder and the filing of an election under Section 83(b) of the Code, or the vesting of the Shares may result in the imposition of federal or state taxes upon the Participant and that the
Company may be required to withhold taxes in such event. Nothing in this Agreement shall be construed as a representation by the Company concerning any tax consequences associated with the award of Shares. Participant hereby represents that the
Participant has obtained appropriate 

  

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legal or tax advice with respect to the tax consequences to the Participant of receiving the Shares, including, without limitation, Section 83(b) of the
Code. 
  
 7. Investment Representations. The Participant
represents and warrants and covenants to the Company that: 
  
 (a) The Shares are being acquired for the Participant’s account for investment only and not with a view to, or for sale in connection with, any distribution of the Shares in violation of the Securities Act of
1933, as amended (the “Securities Act”), or any rule or regulation thereunder. 
  
 (b) The Participant has had such opportunity as he or she has deemed adequate to obtain from the representatives of the Company such
information as is necessary to permit the Participant to evaluate the merits and risks of an investment in the Company. 
  
 (c) The Participant is able to bear the economic risk of holding such Shares for an indefinite period. 
  
 (d) The Participant understands that (i) the Shares
will not be registered under the Securities Act and are “restricted securities” within the meaning of Rule 144 under the Securities Act; (ii) the Shares cannot be sold, transferred or otherwise disposed of unless they are subsequently
registered under the Securities Act or an exemption from registration is then available; (iii) in any event, the exemption from registration under Rule 144 will not be available for at least one year and even then will not be available unless a
public market then exists for the Common Stock, adequate information concerning the Company is then available to the public, and other terms and conditions of Rule 144 are complied with; and (iv) the Company has no obligation or current
intention to register any Shares under the Securities Act. 
  
 8.
Shareholders’ Agreement. No Shares shall be delivered to Participant pursuant to this Agreement unless Participant becomes a signatory to the agreement among the shareholders of the Company attached to this Agreement as
Attachment 2 (the “Shareholders’ Agreement”) by executing and delivering a signature page to such agreement. Upon Participant’s execution of the Shareholders’ Agreement, Participant shall be deemed to have
adopted and to have agreed to be bound by all of the provisions of the Shareholders’ Agreement. To the extent that any of the provisions of this Agreement conflict with any of the provisions of the Shareholders’ Agreement, the provisions
of the Shareholders’ Agreement shall prevail. 
  
 9.
Legends. 
  
 (a) Legend on Stock
Certificate. All stock certificates representing Shares shall have affixed thereto legends substantially in the following form, in addition to any other legends required by applicable state law: 
  
 THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933
AS AMENDED, (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE TRANSFERRED WITHOUT REGISTRATION UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES 

  

 3 

 
LAWS OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATION IS NOT REQUIRED. 
  
 THE SHARES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, ASSIGNED,
TRANSFERRED, ENCUMBERED, OR IN ANY MANNER DISPOSED OF EXCEPT IN CONFORMITY WITH THE TERMS OF SHAREHOLDERS’ AGREEMENT DATED OCTOBER 27, 2004, BETWEEN THE CORPORATION AND THE REGISTERED HOLDER OF THE SHARES (OR THE PREDECESSOR IN INTEREST TO THE
SHARES), A COPY OF WHICH IS AVAILABLE AT THE PRINCIPAL OFFICES OF THE CORPORATION. SUCH AGREEMENT GRANTS CERTAIN RIGHTS TO THE CORPORATION (OR ITS ASSIGNEES) UPON THE SALE, ASSIGNMENT, TRANSFER, ENCUMBRANCE OR OTHER DISPOSITION OF THE
CORPORATION’S SHARES INCLUDING REPURCHASE RIGHTS AND RIGHTS OF FIRST REFUSAL. THE CORPORATION WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE. 
  
 (b) Stop-Transfer Notice. Participant agrees that, in
order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make
appropriate notations to the same effect in its own records. 
  
 (c) Refusal to Transfer. The Company shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any law or any of the provisions of the Plan
or this Agreement or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Shares shall have been so transferred. 
  
 10. Severability. In the event that any provision or portion of this
Agreement shall be determined to be invalid or unenforceable for any reason, in whole or in part, in any jurisdiction, the remaining provisions of this Agreement shall be unaffected thereby and shall remain in full force and effect to the fullest
extent permitted by law in such jurisdiction, and such invalidity or unenforceability shall have no effect in any other jurisdiction. 
  
 11. Binding Effect. This Agreement shall extend to, be binding upon and inure to the benefit of Participant and Participant’s legal
representatives, heirs, successors and assigns (subject, however, to the limitations set forth in Sections 4, and 9 with respect to the transfer of this Agreement or any rights hereunder or of the Shares), and upon the Company and
its successors and assigns, regardless of any change in the business structure of the Company, be it through spinoff, merger, sale of stock, sale of assets or any other transaction. 
  
 12. Notices. Each notice to the Company relating to this Agreement shall be in writing and delivered in person or by
registered mail to the Company at its office located at 2001 Riverside Drive, Chattanooga, Tennessee 37406, to the attention of the Secretary. All notices to 

  

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the Participant or other person then entitled to exercise any right pursuant to this Agreement shall be delivered to the Participant or such other address as
the Participant or such other person may specify in writing to the Company by a notice delivered in accordance with this paragraph. 
  
 13. Choice of Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Tennessee as such laws are
applied to contracts entered into and performed in such State. 
  
 14. Entire Agreement. This Agreement and the Plan constitute the entire contract between the parties to this Agreement with regard to the subject matter of this Agreement. They supersede any other agreements, representations or
understandings (whether oral or written and whether express or implied) which relate to the subject matter of this Agreement. 
  
 15. Waiver. The waiver of any breach of any duty, term or condition of this Agreement shall not be deemed to constitute a waiver of any preceding
or succeeding breach of the same or of any other duty, term or condition of this Agreement. 
  
 16. Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original but all of which will together constitute one and the same agreement. 
  
 17. Acknowledgement of Participant. The Participant hereby
acknowledges receipt of a copy of the Plan and represents that he or she is familiar with the terms and conditions thereof, and hereby accepts the Shares subject to all of the terms and conditions thereof. The Participant has reviewed the Plan and
this Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement and fully understands all terms and conditions relating to the Shares. The Participant hereby agrees to accept as binding,
conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan or this Agreement, and further agrees to notify the Company upon any change in the residence address set forth on the signature page
hereto. 
  
 [signature page follows this page] 

 

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 IN WITNESS WHEREOF, this Agreement is executed by the Participant and by the Company through its duly
authorized officer or officers and delivered as of the date written above. 
  

									
	PARTICIPANT	 	 	 	 GORDON BIERSCH BREWERY
 RESTAURANT
GROUP, INC.

				
	 	 	 	 	 By
	 	 
	 (Print Name)
	 	 	 	 Name:
	 	H. Allen Corey
	 	 	 	 	 Title:
	 	President and Chief Executive Officer
	 (Signature)
	 	 	 	 	 	 
				
	Address for Notices:	 	 	 	 	 	 
				
	 	 	 	 	 	 	 
				
	 	 	 	 	 	 	 
				
	 	 	 	 	 	 	 

  
 Consent of Spouse

  
 I, the spouse of the above-named Participant,
acknowledge and agree that I am bound by the terms of this Agreement and the Plan as to any and all interests I may have in the Shares acquired by my spouse under this Agreement, including but not limited to, the Company’s rights under the
Shareholders’ Agreement. 
  
  

									
	 	 	 	 	 
					
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 Print Name

  

			
	 Attachments:
	  	(1) 2005 Stock Incentive Plan
	 	  	(2) Shareholders’ Agreement

  

 6Form of Stock Option Agreement

 Exhibit 10.12 
  
 GORDON BIERSCH BREWERY RESTAURANT GROUP, INC. 
  
 2005 STOCK INCENTIVE PLAN 
  
 FORM OF STOCK OPTION AGREEMENT 
  
 This Agreement dated as of                     
(the “Date of Grant”) between Gordon Biersch Brewery Restaurant Group, Inc., a Tennessee corporation (the “Company”) and
                     (the “Participant”). 
  
 1. Award of Option. The Company hereby awards to the Participant, an option (the “Option”) to
purchase up to an aggregate of                      shares (the “Shares”) of the Company’s common stock, no par value
per share (the “Common Stock”), on the terms and conditions hereinafter set forth, at the purchase price of $              per share (the “Exercise
Price”). The Option is intended to qualify as an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). 
  
 2. The Plan. The Plan, a copy of which is available by contacting the
Company’s Secretary, or the then current administrator of the Plan (the “Plan Administrator”) is incorporated herein by reference and is made a part of this Agreement as if fully set forth herein. This Agreement is subject to,
and the Company and the Participant agree to be bound by, all of the terms and conditions of the Plan as the same exists at the time into which this Agreement was entered. The Plan shall control in the event there is any express conflict between the
Plan and the terms hereof, and on such matters that are not expressly covered in this Agreement. Subsequent amendments to the Plan shall not adversely affect the Participant’s rights under this Agreement. 
  
 3. Exercise of Option. 
  
 (a) Exercisability of Option. The Option to purchase the Shares is
exercisable in accordance with Schedule I hereto. 
  
 The periods
of time following the Participant’s cessation of service, death or disability during which the Option remains exercisable as provided in subsections (c) and (d) below, shall not be included for purposes of determining the
exercisability of the Option under this subsection (a). 
  
 (b)
Expiration Date. Except as otherwise provided in this Agreement, the Option may not be exercised after the date that is the tenth anniversary of the Date of Grant (the “Expiration Date”). 
  
 (c) Termination of Employment. If the Participant ceases to be an
Employee (as defined in the Plan) for any reason other than death or disability or discharge for “cause”, as provided in subsection (e) below, the right to exercise the 

  

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Option shall terminate three months after such cessation (but in no event after the Expiration Date). 
  
 (d) Exercise Period Upon Death or Disability. If the Participant dies
or becomes disabled (within the meaning of Section 22(e) (3) of the Code) prior to the Expiration Date, while he or she is an Employee, or if the Participant dies within three months after the Participant ceases to be an Employee (other
than as a result of a discharge for “cause” as specified in subsection (e) below), the Option shall be exercisable, within the period of one year following the date of death or disability of the Participant (but in no event after the
Expiration Date), by the Participant, the Participant’s legal representative (in the event of legal incapacity) or by the person to whom the Option is transferred by will or the laws of descent or distribution. 
  
 (e) Discharge for Cause. If the Participant, prior to the Expiration
Date, ceases to be an Employee because he or she is discharged for “cause” (as defined below, if not otherwise defined in an employment agreement between the Participant and the Company then in effect), the right to exercise the Option
shall terminate immediately upon such cessation of employment. “Cause” shall mean (i) any material breach by the Participant of any of his/her material obligations under the Participant’s employment agreement with the
Company (if any), (ii) failure by the Participant to perform satisfactorily the duties required by and appropriate for his/her position as determined by the Board and such failure to perform has not been cured by the Participant within 30 days
following receipt of written notice thereof from the Board, or (iii) other conduct of the Participant involving any willful misconduct with respect to the Company, including, without limitation, fraud, embezzlement, theft or proven dishonesty
in the course of his employment or conviction of a felony. 
  
 (f)
Notice Concerning ISO Treatment. If this option is designated as an incentive stock option within the meaning of Section 422 of the Code, it ceases to qualify for favorable tax treatment as an incentive stock option to the extent certain
requirements are not met. Loss of favorable tax treatment may occur if the option is exercised (i) more than three months after the date the Participant ceases to be an Employee for any reason other than death or permanent and total disability
(as defined in section 22(e)(3) of the Code), (ii) more than 12 months after the date the Participant ceases to be an Employee by reason of such permanent and total disability or (iii) after the Participant has been on a leave of absence
for more than 90 days, unless the Participant’s reemployment rights are guaranteed by statute or contract. In addition, favorable tax treatment may be lost if any stock acquired under the option plan is disposed of by the Participant
(i) within two years of the date of grant of the option or (ii) within one year of the date of exercise of the option. Participants are strongly urged to consult their tax advisors with respect to the various requirements necessary to
obtain incentive stock option treatment and the consequences of failing to meet such requirements. 
  

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 4. Manner of Exercise. 
  
 (a) Exercise Procedure. The Option shall be exercised by the Participant’s delivery of written notice of his or
her election to exercise this Option in substantially the form of Notice of Stock Option Exercise attached to this Agreement to the chief financial officer of the Company, specifying the number of Shares to be purchased and the aggregate Exercise
Price to be paid therefor and accompanied by payment in full in accordance with subsection (b) below. Such exercise shall be effective upon receipt by the chief financial officer of the Company of such written notice together with the required
payment. 
  
 (b) Full payment for the Shares purchased shall be
made at the time of exercise of the Option. The purchase price shall be payable to the Company either (i) in United States dollars in cash or by check, bank draft, or postal or express money order, (ii) by delivery of shares of Common
Stock owned by the Participant, (iii) through a cashless exercise effected in accordance with rules adopted by the Board, (iv) any other manner permitted by law and allowed by the Board in its sole discretion, or (v) any combination
of the foregoing. In addition, the Board, in its sole discretion, may permit the Participant to pay up to ninety percent (90%) of the Exercise Price with a promissory note in accordance with the terms and conditions of the Plan. 
  
 5. Non-Transferability. Except as otherwise provided herein, the
Option and the rights and privileges conferred hereby may not be transferred, assigned, pledged or hypothecated in any way, other than by will or the laws of descent and distribution, and the Option shall be exercisable during the Participant’s
lifetime only by the Participant or his conservator. 
  
 6. No
Special Employment Rights. Nothing contained in the Plan or in this Agreement shall be construed or deemed by any person under any circumstances to bind the Company or any Parent Corporation or any Subsidiary (as such terms are defined in the
Plan) to continue the employment of the Participant for the period within which the Option may be exercised. During the period of the Participant’s employment, the Participant shall render the services which are assigned to the Participant from
time to time by the Board of Directors of the Company or the executive officers of the Company or any Parent Corporation or Subsidiary and shall at no time take any action which directly or indirectly would be inconsistent with the best interests of
the foregoing entities. 
  
 7. Taxes and Withholding. All
payments to the Participant or to his legal representative shall be subject to any applicable tax, community property, or other statutes or regulations of the United States or any state having jurisdiction thereof. The Participant may be required to
pay to the Company the amount of any withholding taxes which the Company is required to withhold with respect to the Option or its exercise. In the event that such payment is not made when due, the Company shall have the right to 

  

 -3- 

 
deduct, to the extent permitted by law, from any payment of any kind otherwise due to such person all or a part of the amount required to be withheld.

  
 8. Premature Disposition of Shares. If the Participant
or the Participant’s estate sells or otherwise disposes of any Shares acquired upon exercise of the Option within one year from the date such Shares were acquired or two years from the date of this Agreement, the Participant (or such person
exercising the Option) agrees that the Participant or the Participant’s estate will deliver a written report to the Plan Administrator within thirty days following the sale or other disposition of such Shares detailing the net proceeds of such
sale or disposition. 
  
 9. Representations; Legend.

  
 (a) Investment Representations. As of the time of any
exercise of the Option, the Participant represents and warrants and covenants to the Company that: 
  
 (i) Any Shares purchased upon exercise of the Option shall be acquired for the Participant’s account for investment only and not with
a view to, or for sale in connection with, any distribution of the Shares in violation of the Securities Act of 1933, as amended (the “Securities Act”), or any rule or regulation thereunder. 
  
 (ii) The Participant has had such opportunity as he or she
has deemed adequate to obtain from the representatives of the Company such information as is necessary to permit the Participant to evaluate the merits and risks of an investment in the Company. 
  
 (iii) The Participant is able to bear the economic risk of
holding such Shares for an indefinite period. 
  
 (iv) The Participant understands that (A) the Shares will not be registered under the Securities Act and are “restricted securities” within the meaning of Rule 144 under the Securities Act; (B) the Shares cannot be sold,
transferred or otherwise disposed of unless they are subsequently registered under the Securities Act or an exemption from registration is then available; (C) in any event, the exemption from registration under Rule 144 will not be available
for at least one year and even then will not be available unless a public market then exists for the Common Stock, adequate information concerning the Company is then available to the public, and other terms and conditions of Rule 144 are complied
with; and (D) the Company has no obligation or current intention to register any Shares acquired pursuant to the exercise of the Option under the Securities Act. 
  
 (b) Tax Consequences. The Participant hereby represents that the Participant has obtained appropriate legal
or tax advice with respect to the tax consequences to the Participant of exercising the Option and selling the Shares. 
  

 -4- 

 (c) Legend On Stock Certificates. All stock certificates representing Shares issued to the
Participant upon exercise of the Option shall have affixed thereto legends substantially in the following form, in addition to any other legends required by applicable state law: 
  
 THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AS AMENDED, (THE “SECURITIES ACT”), OR
THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE TRANSFERRED WITHOUT REGISTRATION UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATION IS NOT REQUIRED.

  
 THE SHARES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD,
ASSIGNED, TRANSFERRED, ENCUMBERED, OR IN ANY MANNER DISPOSED OF EXCEPT IN CONFORMITY WITH THE TERMS OF SHAREHOLDERS’ AGREEMENT DATED OCTOBER 27, 2004, BETWEEN THE CORPORATION AND THE REGISTERED HOLDER OF THE SHARES (OR THE PREDECESSOR IN
INTEREST TO THE SHARES), A COPY OF WHICH IS AVAILABLE AT THE PRINCIPAL OFFICES OF THE CORPORATION. SUCH AGREEMENT GRANTS CERTAIN RIGHTS TO THE CORPORATION (OR ITS ASSIGNEES) UPON THE SALE, ASSIGNMENT, TRANSFER, ENCUMBRANCE OR OTHER DISPOSITION OF
THE CORPORATION’S SHARES INCLUDING REPURCHASE RIGHTS AND RIGHTS OF FIRST REFUSAL. THE CORPORATION WILL UPON WRITTEN REQUEST FURNISH A COPY OF SUCH AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE. 
  
 By making payment upon exercise of the Option, the Participant shall be
deemed to have reaffirmed, as of the date of such payment, the representations made in this Section 9. 
  
 10. Shareholders’ Agreement. As a condition to the exercise of this Option, the Participant agrees to execute the Shareholders’ Agreement
and agrees to be bound by the terms and conditions set forth therein concerning the Shares. 
  
 11. Notices. Each notice to the Company relating to this Agreement shall be in writing and delivered in person or by registered mail to the Company at its office located at 2001 Riverside Drive, Chattanooga,
Tennessee 37406, to the attention of the Secretary. All notices to the Participant or other person then entitled to exercise any right pursuant to this Agreement shall be delivered to the Participant or such other address as the Participant or such
other person may specify in writing to the Company by a notice delivered in accordance with this paragraph. 
  

 -5- 

 12. Choice of Law. This Agreement shall be governed by, and construed in accordance with, the laws
of the State of Tennessee as such laws are applied to contracts entered into and performed in such State. 
  
 13. Miscellaneous. This Agreement and the Plan constitute the entire contract between the parties to this Agreement with regard to the subject
matter of this Agreement. They supersede any other agreements, representations or understandings (whether oral or written and whether express or implied) which relate to the subject matter of this Agreement. 
  
 This Agreement shall inure to the benefit of and be binding upon each
successor of the Company and to the extent specifically provided herein and in the Plan shall inure to the benefit of and be binding upon the Participant’s heirs, legal representatives and successors. 
  

 -6- 

 IN WITNESS WHEREOF, this Agreement is executed by the Participant and by the Company through its duly
authorized officer or officers and delivered as of the date written above. 
  

									
	PARTICIPANT:	 	 	 	 GORDON BIERSCH BREWERY
 RESTAURANT
GROUP, INC.

				
	 	 	 	 	 By:
	 	 
	 (Print Name)
	 	 	 	 Name:
	 	 
	 	 	 	 	 Title:
	 	 
				
	 	 	 	 	 	 	 
	 (Signature)
	 	 	 	 	 	 
				
	 Address for Notices:
	 	 	 	 	 	 
				
	 	 	 	 	 	 	 
				
	 	 	 	 	 	 	 
				
	 	 	 	 	 	 	 

  
 Consent of Spouse

  
 I, the spouse of the above-named Participant,
acknowledge and agree that I am bound by the terms of this Agreement and the Plan as to any and all interests I may have in this Option or the Shares acquired by my spouse under this Option, including but not limited to, the Company’s rights
under the Shareholders’ Agreement. 
  

									
	 	 	 	 	 
					
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 Print Name

  

			
	 Attachments:
	  	(1) 2005 Stock Incentive Plan
	 	  	(2) Form of Notice of Stock Option Exercise
	 	  	(3) Shareholders’ Agreement

  

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 Schedule I 
  

Vesting Periods 
  

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