Document:

Management Agreement

 Exhibit 10.17 
  
 THE OBLIGATIONS OF THE COMPANY (AS DEFINED BELOW) TO PAY FEES (AS DEFINED BELOW) HEREUNDER ARE SUBORDINATE TO THE OBLIGATIONS OF THE
COMPANY TO THE LENDERS (AS DEFINED BELOW) PURSUANT TO THE FINANCING AGREEMENT (AS DEFINED BELOW). 
  
 MANAGEMENT AGREEMENT 
  
 This Management Agreement (“Agreement”) is entered into as of October 27, 2004 (the “Effective Date”)
by and between GORDON BIERSCH BREWERY RESTAURANT GROUP, INC., a Tennessee corporation (the “Company”), and HANCOCK MANAGEMENT PARTNERS, INC., a California corporation (“HMF”). 

 
 WHEREAS, Hancock Park Capital II, LP, a Delaware
limited partnership (“HPCFund”) has purchased securities of the Company (the “Transaction”) pursuant to a Securities Purchase Agreement dated as of the Effective Date (the “Purchase
Agreement”); and 
  
 WHEREAS, subject to the terms and conditions of this Agreement, the Company desires that HMP provide certain management and advisory services to the Company, and HMP desires to provide such services.

  
 NOW,
THEREFORE, in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be
legally bound, hereby agree as follows: 
  
 1. Services. HMP hereby agrees
that, during the term (the “Term”) of this Agreement, it will: 
  
 a. provide the Company with advice in connection with the negotiation and consummation of agreements, contracts, documents and instruments necessary to provide the Company with financing from banks or other financial
institutions or other entities on terms and conditions satisfactory to the Company; and 
  
 b. provide the Company with financial, managerial and operational advice in connection with its day-to-day operations, including, without limitation advice with respect to the development and implementation of
strategies for improving the operating, marketing and financial performance of the Company. 
  
 2. Payment of Fees. The Company hereby agrees to: 
  
 a. pay to HMP (or an affiliate designated by it) a reasonable transaction fee based on the market (the “Transaction Fee”), in connection with the structuring, negotiation and consummation of
any financing, acquisition or other extraordinary 

 
transaction on terms and conditions satisfactory to the Company, together with the reimbursement of HMP’s expenses incurred in connection therewith,
such Transaction Fee and expenses being payable by the Company concurrently with the consummation of such a financing, acquisition or other transaction; and 
  
 b. The Company hereby agrees to during the Term, pay to HMP a management fee (the “Management Fee”) in exchange for
the services provided to the Company by HMP as described in Section 1 of this Agreement. Such Management Fee shall be paid by the Company to HMP or an affiliate of HMP designated by it. The amount of the Management Fee shall be $20,000 per
month payable monthly in advance. 
  
 3. Limitations on Payments of Fees.

  
 a. Certain Definitions. For purposes of this
Agreement, the term “Senior Debt” means the indebtedness and all other “Obligations” (as defined therein) of the Company owed under that certain Amended and Restated Financing Agreement, dated as of October 27,
2004, by and among the Company, Big River Breweries, Inc., GB Acquisition, Inc., the lenders from time to time party thereto (each a “Lender” and collectively, the “Lenders”), Ableco Finance LLC, as
collateral agent for the Lenders, and Wells Fargo Foothill, Inc., as administrative agent for the Lenders (as amended from time to time, the “Financing Agreement”). 
  
 b. Subordination. HMP agrees that the payment of the Management Fee
and any Transaction Fee at any time now or hereafter owing from the Company to HMP under this Agreement (“Fees”), shall be junior and subordinate to the prior indefeasible payment in full of, and performance of all
obligations in respect of, all Senior Debt. Each clause or subsection of this Section 3 shall be given independent effect so that if a particular payment is prohibited by any one of such clauses it shall be prohibited although it otherwise
would not be prohibited by another clause or subsection. 
  
 c.
Default under Senior Debt. As long as any Fees are owing under this Agreement, then following the occurrence and during the continuance of a default on Senior Debt, HMP agrees that it will not (i) take any action or initiate any
proceedings, judicial or otherwise, to enforce HMP’s rights or remedies with respect to any Fees under this Agreement, including, without limitation, any action to obtain any judgment or prejudgment remedy against the Company or to otherwise
collect any amounts due hereunder or to realize upon any lien, security interest, charge, claim, right or other arrangement now or in the future existing, including any repossession, foreclosure, public sale, private sale, collection, obtaining of a
receiver or retention of all or any part of amounts paid pursuant to this Agreement, or (ii) receive any payment of Fees under this Agreement. 
  
 d. Dissolution, Liquidation or Reorganization of the Company. In the event of any insolvency, bankruptcy or receivership case or proceeding, or any
dissolution, winding up, liquidation, reorganization or other similar proceeding, relative to the 

  

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Company, its property or its operations (whether voluntary or involuntary and whether in bankruptcy, insolvency or receivership proceedings or otherwise) or
upon an assignment for the benefit of creditors, or any other marshalling of the assets of the Company, then all Senior Debt shall first be paid in full in cash or cash equivalents, before HMP shall be entitled to receive or retain any payment or
distribution of assets with respect to this Agreement. 
  
 e.
Deferral of Payments. Notwithstanding anything to the contrary herein, if the payment of any Fees otherwise required pursuant to this Agreement would result in the Company being in default under any Senior Debt, or in the existence of any
event, occurrence or condition which, with notice or the passage of time, or both, would constitute such a default, the Company shall defer payment of the Fees which would have such result. Fees, the payment of which are so deferred, together with
interest thereon at the per annum rate of 6% from the date payment would have been due but for the operation of this Section 3(e) until paid, will be due and payable immediately when such Fees may be paid by the Company without causing such
result. 
  
 f. Third Party Beneficiaries. The Company and
HMP acknowledge and agree that the Lenders are intended to be third party beneficiaries of the provisions of this Section 3 and are entitled to rely on these provisions and to enforce these provisions as if they were a direct party to this
Agreement. In addition, and in furtherance of the foregoing, HMP agrees that the provisions of this Section 3 may not be amended or modified without the written consent of the Requisite Lenders (as defined in the Financing Agreement).

  
 4. Term. This Agreement shall continue in full force and effect
so long as Hancock Park Capital II, LP or any of its affiliates owns at least 10% of the then outstanding shares of capital stock of the Company (on a fully-diluted basis); provided, however, that this Agreement may be terminated by mutual
consent of the parties at any time. 
  
 5. Expenses; Indemnification.

  
 a. Expenses. The Company agrees to pay on demand
all out-of-pocket expenses incurred by HMP or its affiliates in connection with the provision of services hereunder including, without limitation, travel, transportation, legal, general administrative expenses (including the reasonable allocation
therefor with and among other entities for which HMP or its affiliates provide similar services) and the attendance of any of HMP’s or its affiliates representatives at any meeting of the board of directors (or any committee thereof) of the
Company or any of its affiliates. 
  
 b. Notwithstanding the
foregoing, HMP shall have the option from time to time, in its sole discretion, to, in lieu of being paid the Management Fee, be reimbursed by the Company for expenses that HMP incurs in the performance of services for the benefit of the Company,

  

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 c. Indemnity and Liability. In consideration of the execution, delivery and performance of this
Agreement, the Company hereby agrees to indemnify, exonerate and hold each of HMP and each of its respective partners, members, shareholders, affiliates, directors, officers, fiduciaries, employees and agents and each of the partners, members,
shareholders, affiliates, directors, officers, fiduciaries, employees and agents of each of the foregoing (collectively, the “Indemnitees”) free and harmless from and against any and all actions, causes of action, suits,
losses (other than diminution in value), liabilities and damages, and expenses in connection therewith, including without limitation attorneys’ fees and disbursements (collectively, the “Indemnified Liabilities”),
incurred by the Indemnitees or any of them as a result of, or arising out of, or relating to the Transaction, the execution, delivery, performance, enforcement or existence of this Agreement or the transactions contemplated hereby except for any
such Indemnified Liabilities arising on account of such Indemnitee’s willful misconduct or gross negligence, and if and to the extent that the foregoing undertaking may be prohibited by applicable law or otherwise unenforceable for any reason,
the Company hereby agrees to make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law. None of the Indemnitees shall be liable to the Company or any of its
affiliates for any act or omission suffered or taken by such Indemnitee that does not constitute willful misconduct or gross negligence. 
  
 6. Assignment, etc. Except as provided below, the parties hereto shall not have the right to assign this Agreement. HMP acknowledges that its services under this
Agreement are unique. Accordingly, any purported assignment by HMP (other than as provided below) shall be void. Notwithstanding the foregoing, (a) HMP may assign all or part of its rights and obligations hereunder to any affiliate of HMP which
provides services similar to those called for by this Agreement, in which event HMP shall be released from all of its obligations hereunder, and (b) the provisions hereof for the benefit of HMP shall inure to the benefit of its successors and
assigns. 
  
 7. Amendments and Waivers. No amendment or waiver of
any term, provision or condition of this Agreement shall be effective, unless in writing and executed by each of HMP and the Company. No waiver on any one occasion shall extend to or affect or be construed as a waiver of any right or remedy on any
future occasion. No course of dealing of any person nor any delay or omission in exercising any right or remedy shall constitute an amendment of this Agreement or a waiver of any right or remedy of any party hereto. 
  
 8. Miscellaneous. 
  
 a. Choice of Law. This Agreement shall be governed by and construed in accordance with the domestic substantive laws
of the State of California without giving effect to any choice or conflict of law provision or rule that would cause the application of the domestic substantive laws of any other jurisdiction. 
  

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 b. Consent to Jurisdiction. Each of the parties irrevocably agrees that all actions, suits or
proceedings arising out of or based upon this Agreement or the subject matter hereof shall be brought and maintained exclusively in the federal and state courts of Los Angeles, California. Each of the parties hereto by execution hereof
(i) hereby irrevocably submits to the jurisdiction of the federal and state courts in Los Angeles, California for the purpose of any action, suit or proceeding arising out of or based upon this Agreement or the subject matter hereof and
(ii) hereby waives to the extent not prohibited by applicable law, and agrees not to assert, by way of motion, as a defense or otherwise, in any such action, suit or proceeding, any claim that it is not subject personally to the jurisdiction of
the above-named courts, that it is immune from extraterritorial injunctive relief or other injunctive relief, that its property is exempt or immune from attachment or execution, that any such action, suit or proceeding may not be brought or
maintained in one of the above-named courts, that any such action, suit or proceeding brought or maintained in one of the above-named courts should be dismissed on grounds of forum non conveniens, should be transferred to any
court other than one of the above-named courts, should be stayed by virtue of the pendency of any other action, suit or proceeding in any court other than one of the above-named courts, or that this Agreement or the subject matter hereof may not be
enforced in or by any of the above-named courts. Each of the parties hereto hereby consents to service of process in any such suit, action or proceeding in any manner permitted by the laws of California, agrees that service of process by registered
or certified mail, return receipt requested, at the address specified in or pursuant to Section 10 is reasonably calculated to give actual notice and waives and agrees not to assert by way of motion, as a defense or otherwise, in any such
action, suit or proceeding any claim that service of process made in accordance with Section 10 does not constitute good and sufficient service of process. The provisions of this Section 8(b) shall not restrict the ability of any party to
enforce in any court any judgment obtained in a federal or state court of Los Angeles, California. 
  
 c. Waiver of Jury Trial. TO THE EXTENT NOT PROHIBITED
BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH OF THE PARTIES HERETO
HEREBY WAIVES, AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS
PLAINTIFF, DEFENDANT, OR OTHERWISE), ANY RIGHT TO TRIAL BY JURY IN
ANY FORUM IN RESPECT OF ANY ISSUE, CLAIM, DEMAND, CAUSE OF ACTION,
ACTION, SUIT OR PROCEEDING ARISING OUT OF OR BASED UPON THIS
AGREEMENT OR THE SUBJECT MATTER HEREOF, IN EACH CASE WHETHER NOW
EXISTING OR HEREAFTER ARISING AND WHETHER IN CONTRACT OR TORT OR
OTHERWISE. Each of the parties hereto acknowledges that it has been informed by each other party that the provisions of this Section 8(c) constitute a material inducement upon which such party is relying and
will rely in entering into this Agreement and the transactions contemplated hereby. Any of the parties hereto may file an original counterpart or a copy of this Agreement with any court as written evidence of the consent of each of the parties
hereto to the waiver of its right to trial by jury. 
  

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 9. Merger/Entire Agreement. This Agreement contains the entire understanding of the parties with respect to
the subject matter hereof and supersedes any prior communication or agreement with respect thereto. 
  
 10. Notice. All notices, demands, and communications of any kind which any party may require or desire to serve upon any other party under this Agreement shall be in writing and shall be served upon such other
party and such other party’s copied persons as specified below by personal delivery to the address set forth for it below or to such other address as such party shall have specified by notice to each other party or by mailing a copy thereof by
certified or registered mail, or by Federal Express or any other reputable overnight courier service, postage prepaid, with return receipt requested, addressed to such party and copied persons at such addresses. In the case of service by personal
delivery, it shall be deemed complete on the first business day after the date of actual delivery to such address. In case of service by mail or by overnight courier, it shall be deemed complete, whether or not received, on the third day after the
date of mailing as shown by the registered or certified mail receipt or courier service receipt. Notwithstanding the foregoing, notice to any party or copied person of change of address shall be deemed complete only upon actual receipt by an officer
or agent of such party or copied person. 
  
 If to the
Company, to: 
  
 Gordon Biersch Brewery Restaurant Group, Inc.

 100 East 10th Street 
 Chattanooga, Tennessee 37402 
 Fax: (423) 752-1973 
 Attention: H. Allen Corey 
  
 If
to HMP, to: 
  
 Hancock Management Partners, Inc. 
 10323 Santa Monica Blvd., Suite 101 
 Los
Angeles, California 90025 
 Fax: (310) 201-0403 
 Attention: Michael J. Fourticq, Sr. 
  
 11.
Severability. If in any judicial proceedings a court shall refuse to enforce any provision of this Agreement, then such unenforceable provision shall be deemed eliminated from this Agreement for the purpose of such proceedings to the
extent necessary to permit the remaining provisions to be enforced. To the full extent, however, that the provisions of any applicable law may be waived, they are hereby waived to the end that this Agreement be deemed to be a valid and binding
agreement enforceable in accordance with its terms, and in the event that any provision hereof shall be found to be invalid or unenforceable, such provision shall be construed by limiting it so as to be valid 

  

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and enforceable to the maximum extent consistent with and possible under applicable law. 
  
 12. Counterparts. This Agreement may be executed in any number of counterparts and by each of the parties hereto in separate
counterparts (including by facsimile), each of which when so executed shall be deemed to be an original and all of which together shall constitute one and the same agreement. 
  
 [SIGNATURE PAGE FOLLOWS] 
  

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 [Management Agreement] 
  
 IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed as of the date first above written
by its officer or representative thereunto duly authorized. 
  

									
	THE COMPANY:	 	 	 	GORDON BIERSCH BREWERY RESTAURANT GROUP, INC. 
					
	 	 	 	 	 	 	By:	 	/s/    C. ANDREW
STOCKETT        
	 	 	 	 	 	 	 Name:
	 	 
	 	 	 	 	 	 	 Title:
	 	 
			
	HMP:	 	 	 	HANCOCK MANAGEMENT PARTNERS, INC.
					
	 	 	 	 	 	 	 By:
	 	/s/    MICHAEL J.
FOURTICQ        
	 	 	 	 	 	 	 Name:
	 	Michael J. Fourticq
	 	 	 	 	 	 	 Title:
	 	an authorized representative

  

 -8-Liquidation Preference Agreement

 Exhibit 10.18 
  
 LIQUIDATION PREFERENCE AGREEMENT 
  
 THIS LIQUIDATION PREFERENCE AGREEMENT (the “Agreement”) is dated effective as of
October 27, 2004 by and among RSTW PARTNERS III, L.P., a Delaware limited partnership (“RSTW”), GORDON BIERSCH BREWERY RESTAURANT GROUP, INC., a Tennessee corporation (“Gordon Biersch”) for the
limited purposes set forth herein and each of the undersigned holders of Gordon Biersch’s common stock, no par value per share, (“Common Stock”) outstanding as of the date hereof (the “Holders”). 
  
 WHEREAS, RSTW and Gordon Biersch entered into that certain Note
Purchase Agreement dated as of December 10, 1999 (as amended, supplemented or otherwise modified from time to time, the “Note Agreement”), pursuant to which a senior subordinated promissory note in the original principal amount
of $23,000,000 was issued by Gordon Biersch to RSTW (as amended, supplemented or otherwise modified from time to time, the “Senior Subordinated Note”); and 
  
 WHEREAS, RSTW and Gordon Biersch entered into that certain Warrant Purchase Agreement dated as of December 10,
1999 (the “Warrant Agreement”) under which Gordon Biersch issued RSTW a warrant to purchase capital stock; and 
  
 WHEREAS, pursuant to a Settlement Agreement between RSTW and Gordon Biersch dated as of the date hereof (the “Settlement
Agreement”). RSTW has agreed to terminate the Note Agreement and the Warrant Agreement and settle all obligations owing or incurred under such agreements, including cancellation of the Senior Subordinated Note (the
“Obligations”) and a warrant to purchase capital stock of Gordon Biersch; 
  
 WHEREAS, Gordon Biersch is willing to act as an administrator to the limited extent provided herein for certain payments that may be made under this Agreement; 
  
 WHEREAS, each of the Holders acknowledges and agrees that such Holder
is the beneficiary of good and valuable consideration as a result of RSTW’s actions under the Settlement Agreement; 
  
 NOW, THEREFORE, in consideration of the mutual promises contained in this Agreement, the legal sufficiency of which is hereby acknowledged, RSTW,
Gordon Biersch and each Holder hereby agree as follows: 
  
 1. Payment upon
Liquidation Event. 
  
 (a) If the Holders shall be entitled to
be paid or distributed proceeds in cash or in securities (including, without limitation, debt securities) or in other property pursuant to a Liquidity Event (as defined below) or payment of dividends or other distributions (collectively,
“Distributions”), each Holder hereby agrees that such Holder’s rights to receive such Distributions are hereby assigned to RSTW in an amount of up to $4,200,000 (the “Liquidation Amount”). 
  
 (b) For purposes of this Agreement, a “Liquidity Event”
shall mean: 
  
 (i) any liquidation, dissolution
or winding up of Gordon Biersch, whether voluntary or involuntary; 
  
 (ii) any consolidation or merger of Gordon Biersch with or into any other corporation or other entity or person, or any other corporate reorganization or transaction or series of related transactions 

 
by Gordon Biersch in which in excess of 50% of Gordon Biersch’s voting power is transferred, excluding any consolidation or merger effected exclusively
to change the domicile of Gordon Biersch; or 
  
 (iii) a sale or other disposition of all or substantially all of the assets of Gordon Biersch. 
  
 (c) Each Holder hereby irrevocably authorizes and appoints Gordon Biersch to act as such Holder’s administrator and attorney-in-fact with respect to
all such Distributions to which such Holder may become entitled. In the event that any such Distributions are payable to the Holders, the Holders shall cause such Distributions to first be deposited with Gordon Biersch which shall then, without any
further action on the part of any party, deliver all such Distributions to RSTW until RSTW shall have been distributed the Liquidation Amount and shall thereafter distribute any such Distributions in excess of the Liquidation Amount ratably to each
Holder based upon the allocations set forth on Exhibit A, as may be amended to reflect transfers of Common Stock by Holders. 
  
 (d) Any securities or other property to be delivered to RSTW or the Holders pursuant to this Agreement shall be valued as follows: 
  
 (i) Securities shall be valued as follows: 
  
 (A) If traded on a securities exchange or Nasdaq NMS, the
value shall be deemed to be the average of the closing prices of the securities on such exchange over the 20 trading-day period ending three (3) trading-days prior to the closing; 
  
 (B) If actively traded over-the-counter (other than Nasdaq NMS), the value shall be deemed to be the average
of the closing bid prices over the 20 trading-day period ending three (3) trading-days prior to the closing; and 
  
 (ii) If there is no active public market, the value shall be the fair market value thereof, as determined by the board of directors of
Gordon Biersch. 
  
 (iii) All other property
shall be valued at the fair market value thereof, as determined by the board of directors of Gordon Biersch. 
  
 (e) The amounts distributed under this Agreement to RSTW shall not exceed in the aggregate the Liquidation Amount. The Liquidation Amount is a maximum
amount that may be payable to RSTW under this Agreement and RSTW acknowledges such amount may not be paid in full if Distributions are not greater than $4,200,000. 
  
 (f) Each Holder’s obligations under this Agreement is several and each Holder’s obligation is limited to such
Holder’s allocable percentage (as expressed on Exhibit A, as may be amended to reflect transfers of Common Stock by Holders) of Distributions. 
  
 2. Transfers. 
  
 (a) No Holder may sell, assign, pledge or otherwise dispose of (a “Transfer”) any interest in any Common Stock covered by this Agreement,
either voluntarily or involuntarily, by operation of law or otherwise, unless the transferee of such Common Stock (except in the case of Transfers to Gordon Biersch) is either a party to this Agreement or shall have executed and delivered to Gordon
Biersch an Instrument of Accession hereto in substantially the form set forth on Schedule 1 hereto. 

 (b) All certificates or other documents representing shares of Common Stock covered by this Agreement and
all certificates or other documents issued in Transfer thereof or substitution therefor shall have endorsed thereon the following legend: 
  
 “The securities evidenced by this certificate are subject to the terms of a certain Liquidation Preference Agreement, dated as of
October 27, 2004, by and among the issuer of this certificate, certain shareholders and RSTW Partners III, L.P. The Liquidation Preference Agreement contains certain restrictive provisions relating to the transfer of shares and rights relating
to the distribution of proceeds or other property to which the holders may become entitled in certain events. No registration of transfer of securities will be made on the books of the issuer unless and until such restrictions have been complied
with. A copy of the Liquidation Preference Agreement is on file at the issuer’s principal offices. Upon written request to the issuer’s secretary, a copy of the Liquidation Preference Agreement will be provided without charge to the holder
of this certificate.” 
  
 3. Terms and Conditions of Gordon Biersch’s
Duties. 
  
 (a) The duties of Gordon Biersch hereunder shall
be entirely administrative and not discretionary. Gordon Biersch shall be obligated to act only in accordance with Section 1 of this Agreement and is authorized hereby to comply with any orders, judgments or decrees of any court with or without
jurisdiction and shall not be liable as a result of its compliance with the same. 
  
 (b) As to any legal questions arising in connection with the administration of this Agreement, Gordon Biersch may rely absolutely upon the opinions given to it by its counsel and shall be free of liability for acting
in reliance on such opinions. In the event that Gordon Biersch shall be uncertain as to its duties or rights hereunder, or shall receive instructions from any other party hereto with respect to the subject matter hereof, which, in Gordon
Biersch’s opinion, are ambiguous or in conflict with any of the provisions of this Agreement, Gordon Biersch shall be entitled to refrain from taking any action until it shall be directed otherwise in writing jointly by RSTW and the Holders or
shall be directed otherwise by a judgment or order of a court of competent jurisdiction. Gordon Biersch shall not be required to disburse all or any portion of the Distributions in violation of any court order. 
  
 (c) Gordon Biersch may rely absolutely upon the genuineness and authorization
of the signature and purported signature of any party upon any instruction, notice, release, receipt or other document delivered to it pursuant to this Agreement. 
  
 (d) Gordon Biersch may, as a condition to the disbursement of monies or disposition of securities or other property as
provided herein, require from the payee or recipient a receipt therefor and, upon final payment or disposition, a release of Gordon Biersch from any liability arising out of its execution or performance of this Agreement, such release to be in a
form reasonably satisfactory to Gordon Biersch. 
  
 (e) Any
expenses of Gordon Biersch incurred in the performance of its duties hereunder, including fees and expenses of counsel, shall be paid by RSTW and the Holders and may, in Gordon Biersch’s reasonable discretion, be withheld from any Distributions
otherwise owed to RSTW or the Holders. 
  
 4. Indemnity. 
  
 (a) RSTW and each Holder hereby agree to and hereby do waive any suit,
claim, demand or cause of action of any kind which it may have or may assert against Gordon Biersch arising out of or relating to the execution or performance by Gordon Biersch of this Agreement, unless such suit, claim, demand or cause of action is
based upon the willful misconduct or bad faith of Gordon Biersch. RSTW 

 
and the Holders agree to indemnify and hold harmless Gordon Biersch against and from any and all claims, demands, costs, liabilities and expenses, including
reasonable counsel fees, which may be asserted against it or to which it may be exposed or which it may incur by reason or its execution or performance of this Agreement. Such agreement to indemnify shall survive the termination of this Agreement
without regard to any applicable statute of limitations. 
  
 (b)
In the event that any litigation is brought against Gordon Biersch in respect of which indemnity may be sought hereunder, Gordon Biersch shall give prompt notice of that litigation to RSTW and each Holder, and the parties upon receipt of that notice
shall have the obligation and the right to assume the defense of such litigation, provided that failure of Gordon Biersch to give that notice shall not relieve the parties hereto from any of their obligations under this Section unless that failure
prejudices the defense of such litigation by said parties. At its own expense, Gordon Biersch may employ separate counsel and participate in the defense. The parties hereto shall not be liable for any settlement without their respective consents.

  
 5. Acknowledgment by Gordon Biersch. By execution and delivery
of this Agreement, Gordon Biersch acknowledges that the terms and provisions of this Agreement are acceptable and it agrees to carry out the provisions of this Agreement on its part. 
  
 6. Termination. This Agreement shall terminate when Gordon Biersch shall have disbursed the entirety of the Distributions
(whether equal to $4,200,000 or not) in accordance with the terms hereof, but such termination shall not affect Gordon Biersch’s right to indemnification as provided herein. 
  
 7. Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of each of the parties and their
respective heirs, administrators, representatives, executors, estates, successors and assigns, if any. 
  
 8. Governing Law. This Agreement is made and entered into in the State of Tennessee and shall in all respects be interpreted, enforced and governed under the laws of that State without giving effect to
its conflict of law rules. 
  
 9. Counterparts. This Agreement may
be executed in any number of counterparts and by the different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which when taken together shall constitute but one and
the same Agreement. Delivery of an executed counterpart of this Agreement by facsimile shall be as effective as delivery of a manually executed counterpart of this Agreement. 
  
 10. Entire Agreement. This Agreement sets forth the entire agreement between the parties hereto and fully supersedes any and
all prior agreements or understandings between them pertaining to the subject matter hereof. It is agreed that this Agreement may be modified only by a subsequent, written agreement, executed by all of the parties. 
  
 11. No Adverse Interpretation. This Agreement shall be deemed to have been mutually
drafted by the parties, so that the Agreement shall not be interpreted against any party as the draftsperson. 
  
 [Signature Pages to Follow] 

 WHEREFORE, the parties have caused this Liquidation Preference Agreement to be executed effective
as of the date first above written. 
  

							
	GORDON BIERSCH BREWERY
	RESTAURANT GROUP, INC.
	
	 
	 Name:
	 	H. Allen Corey
	 Title:
	 	President
	
	RSTW PARTNERS III, L.P.
			
	 	 	 By:
	 	 RSTW Management, L.P.

	 	 	 Its:
	 	 General Partner

				
	 	 	 	 	 By:
	 	 Rice Mezzanine Corporation

	 	 	 	 	 Its:
	 	 General Partner

			
	 	 	 	 	 
	 	 	 	 	 Name:
	 	 
	 	 	 	 	 Title:
	 	 

  
 Signature Page to
Liquidation Preference Agreement 

 WHEREFORE, each of the Holders have caused this Liquidation Preference Agreement to be executed
effective as of the date first above written. 
  

			
	 
	H. Allen Corey
	
	 PMC Employee Retirement Plan,

	 Custodian FBO H. Allen Corey

		
	 By:
	 	 
	 Title:
	 	 
	
	 Raymond James & Assoc., Inc.,

	 Custodian FBO Clayton Andrew Stockett

		
	 By:
	 	 
	 Title:
	 	 
	
	 
	C. Andrew Stockett
	
	 
	Benjamin R. Probasco
	
	 
	Robert A. Gentry
	
	 
	Robert Gentry
	
	 
	Frank Fowler
	
	 
	Clay Gentry
	
	 
	Robert Werk

  
 Shareholder
Signature Page to Liquidation Preference Agreement 

			
	 TBB Holding Company

		
	 By:
	 	 
	 Title:
	 	 
	
	 
	Larry McClure
	
	 J.C. Bradford and Company,
 Custodian, FBO
David E. Dray
 Rollover Acct. 14231418-1-9

		
	 By:
	 	 
	 Title:
	 	 
	
	 UBS Painewebher,
 Custodian FBO David E. Dray
IRA

		
	 By:
	 	 
	 Title:
	 	 
	
	 Julian D. Saul Trust,

	 Julian D. Saul, Trustee

		
	 By:
	 	 
	 Title:
	 	 
	
	 
	Julian D. Saul
	
	 
	Carol Grizzard
	
	 Pointer Management Co. Profit Sharing Plan

		
	 By:
	 	 
	 Title:
	 	 
	
	 
	John A. Stout

  
 Shareholder
Signature Page to Liquidation Preference Agreement 

							
	
	 
	John Stout
	
	 
	W. Thorpe McKenzie
	
	 
	Joseph H. Davenport III
	
	 Howard Holdings, Inc.

		
	 By:
	 	 
	 Title:
	 	 
	
	 1999 Garnett A. Smith Holdings Trust,
 Kittrell Smith, Trustee

		
	 By:
	 	 
	 Title:
	 	 
	
	 RSTW Partners III, L.P.

			
	 	 	 By:
	 	 RSTW Management, L.P.

	 	 	 Its:
	 	 General Partner

				
	 	 	 	 	 By:
	 	 Rice Mezzanine Corporation

	 	 	 	 	 Its:
	 	 General Partner

			
	 	 	 	 	/s/    JEFFREY P.
SANGLIS        
	 	 	 	 	 Name:
	 	 
	 	 	 	 	 Title:
	 	 
			
	 	 	 	 	 
	J. Porter Durham, Jr.
			
	 	 	 	 	 
	Robert Page
			
	 	 	 	 	 
	Robert Stickley

  
 Shareholder
Signature Page to Liquidation Preference Agreement 

	
	
	 
	James Richard Thomas

	
	
	 
	Tim P. Hennen

	
	
	 
	John Leonard

	
	
	 
	James H. Parton

  
 Shareholder
Signature Page to Liquidation Preference Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}]]