Document:

Employment Offer Letter dated October 8, 2012

 Exhibit 10.1 

 
 

 
 September 19, 2012 
 John F. Gilbert III 
 3 Greengate Rd. 
 Woodstock, VT 05091 
 Dear John, 
 On behalf of the Board of Directors of Famous Dave’s of America, Inc., it’s with great pleasure that we extend to you an offer for the position of Chief Executive Officer, reporting directly to
the Board of Directors. We are very excited at the prospect of your joining the Famous Dave’s team in such a visible and strategic position. These are dynamic times for our Company and we look forward to the contributions you will make to our
current and future success. Outlined below are the terms of our offer: 
 Board Seat 

Member, Board of Directors, Famous Dave’s of America, Inc. (the “Company”). In accordance with applicable SEC rules, effective immediately
prior to your appointment as Chief Executive Officer, you will be deemed to have resigned as committee member of the Audit and Compensation Committees of the Board. In addition, your continued participation as a Board Member is subject to approval
from time to time by the Company’s shareholders. In addition, you agree that in the event you are no longer an officer of the Company, regardless of reason, you will, within five (5) days thereafter, tender your resignation from the Board
and any and all committees upon which you then serve. 
 Base Pay 
 You will receive an annual base salary of $400,000.00 paid in accordance with the Company’s standard payroll practices. You will be entitled to an annual performance review. 

Bonus Potential 
 You will have
the opportunity to earn a bonus of 100% of your base salary earned during a particular year, prorated for any partial year, including 2012. You will be part of the executive bonus plan which is currently driven by EPS performance compared to budget.
Pursuant to this plan, you have the possibility of earning more than 100% of base salary if the EPS achieved exceeds 100% of target. The Board of Directors may in the future revise the performance criteria and/or achievement awards applicable to the
executive bonus plan as it deems appropriate based on the executive compensation policies of the Company from time to time. 
 Equity
Participation 
 An initial restricted stock grant of 150,000 shares will be made to you by the Company on the commencement date of your
employment. The grant will be made under the Company’s 2005 stock incentive plan and the shares subject to the grant will be subject to transfer and forfeiture restrictions that will lapse in equal annual installments over a period of 5 years.
In addition, an annual restricted stock grant valued at $80,000 will be made on or about the first day of the Company’s fiscal year, commencing on December 31, 2012, for the Company’s 2013 fiscal year. The exact number of shares will
be calculated (and rounded up to the next whole number) based on the fair market value on the close of business on such date, such shares to vest ratably in equal annual installments over five years. 

 Annual Long Term Compensation Awards 
 100% of Base pay potential starting in 2013 
 These are our standard Performance Shares which are
‘earned’ based on three (3) year cumulative performance. If the Company achieves 100% of performance target (the accumulation of the 3 years of budgeted EPS performance), then 100% of the shares are earned. The potential
number of shares is based on the award year’s salary at 100%. There are smaller awards for less than 100% performance and greater awards for greater performance. As with the executive bonus plan, the Board of Directors may in the future
revise the performance criteria and/or achievement awards applicable to annual long-term compensation awards as it deems appropriate based on the executive compensation policies of the Company from time to time. 

Confidentiality & Non-Compete 
 Pursuant to a separate confidentiality and non-competition agreement to be entered into on or prior to your first day of employment, you will be eligible for eighteen (18) months’ severance
(base pay and insurance benefits) unless termination is for ‘cause’, or death or disability, and you will agree not to compete for a period of two (2) years in the retail sale of barbequed food and not to solicit employees for a
period of two (2) years in each case following termination. In the event of a termination within six months following a change in control of the Company (other than for ‘cause’), you will be entitled to a severance payment that
includes both base salary and a provision for bonus. The timing of severance payments will be subject to compliance with the IRS’s “Section 409A” deferred compensation rules. All severance payments will be subject to mitigation if you
commence employment with another employer. 
 Executive Health & Dental and Vacation 

You will be eligible to participate in the Company’s Comprehensive Medical and Dental plans and will be entitled to four weeks’ vacation each
year. 
 Deferred Compensation Plan 
 You will be eligible to participate in deferred compensation plans sponsored by the Company from time to time and in which other Company executives are entitled to participate. 

Relocation/Moving Expenses 
 You
will be eligible to participate in full in the Company’s Relocation/Moving policy which shall include a short term housing and travel allowance of $7,500 per quarter, payable in arrears, for four quarters, plus reimbursement of customary
brokerage commissions upon the sale of your existing residence, if you should chose to do so, provided such sale occurs within three years after you join the Company. 
 At Will Employment 
 Employment with the Company is for an indefinite period of time.
Nothing in this offer letter modifies or is intended to modify the at will employment relationship that we will have if you join the Company. 

Company Policies 
 Your employment
will be subject to the Company’s policies and procedures that we establish from time to time. 
 Your Representations

 We are pleased that you have decided to join the Company. However, it is very important for both you and the Company to make certain
that there are no conflicts or potential conflicts between you and other organizations if you come to work for us. Therefore, we require that you make the following representations to us. If any of these is a problem for you, we would be glad to
discuss them with you and try to work through them. The goal is to identify any possible problems up front and resolve them. 

 First, you do not have a contract with any other employer that restricts or prohibits you from working for
the Company in the position that we have offered to you. It is our policy not to wrongfully interfere with the agreements of other organizations. If you have any such contract, for example, any type of non-competition agreement, non-solicitation
agreement, or confidentiality agreement, we must see it before we finalize this conditional offer of employment. 
 Secondly, we do not want you
to bring to the Company any property or documents that belong to another person or employer. This goes for price lists, customer lists, sales or marketing plans, other business information, and any other information that any another employer told
you verbally or in writing was its confidential information or trade secrets. In addition, we will not ask you to disclose, and you should not disclose to us, another employer’s confidential information or trade secrets. 

Thirdly, if you have in your possession any property belonging to any other employer, we ask that you return it before you begin working at the Company.
It does not matter if such materials are in paper or electronic format. Please return it if it belongs to another employer. 
 Other
Conditions of this Offer 
 For immigration compliance purposes, we require you to produce the documents necessary to establish your
identity and authorization to work in this country, and complete the federal I-9 form. 
 Please confirm your acceptance of our conditional
offer by signing and dating one of the two enclosed copies and returning it to the undersigned on or before October 8, 2012. 
 John, on
behalf of the Board of Directors we are confident of the impact you will make and are looking forward to working closely with you. 
  

									
			
	Very Truly Yours,	 		 	
				
	Famous Dave’s of America, Inc.	 		 		 	
					
	By:	 	 /s/ Dean A. Riesen
	 		 		 	
		 	 Member, Board of Directors
	 		 		 	
				
	AGREED AND ACCEPTED:	 		 		 	
				
	 /s/ John F. Gilbert III
	 		 		 	 10/8/12

	John F. Gilbert III	 		 		 	DateConfidentiality and Noncompetition Agreement dated October 8, 2012

 Exhibit 10.2 
 CONFIDENTIALITY AND NONCOMPETITION AGREEMENT 
 This Confidentiality and Noncompetition
Agreement (the “Agreement”) is made as of October 8, 2012, by and between FAMOUS DAVE’S OF AMERICA, INC., a Minnesota corporation (the “Company”), and John F. Gilbert III (the “Executive”). 

W I T N E S S E T H 
 WHEREAS, the Company desires to employ Executive in accordance with the terms and conditions stated in an employment letter dated as of September 19, 2012, as accepted by Executive on
October 8, 2012 (the “Employment Offer Letter”) and this Agreement, the Company would not be willing to employ Executive without Executive’s agreement to comply with the restrictive covenants and other provisions set forth
in the Agreement; and 
 WHEREAS, Executive desires to accept employment with the Company pursuant to such the terms of
the Employment Offer Letter and this Agreement. 
 NOW, THEREFORE, in consideration of the covenants and agreements
contained herein, the parties hereto agree as follows: 
 ARTICLE I 

CONFIDENTIALITY 
 Executive acknowledges and agrees that during the term of this Agreement he will have access to various trade secrets and confidential business information (“Confidential Information”) of
the Company. Executive agrees that he shall use such Confidential Information solely in connection with his obligations under this Agreement and shall maintain in strictest confidence and shall not disclose any such Confidential Information,
directly or indirectly or use such information in any other way during the term of this Agreement or following the termination thereof. Executive further agrees to take all reasonable steps necessary to preserve and protect the Confidential
Information. The provisions of this Section shall not apply to information which (i) was in possession of an Executive prior to receipt from the Company, or (ii) is or becomes generally available to the public other than as a result of a
disclosure by the Company, its directors, officers, employees, agents or advisors, or (iii) becomes available to Executive from a third party having the right to make such disclosure. 

 ARTICLE II 
 NON-COMPETITION 
 Executive agrees that, on or before the date which is two
(2) years after the date Executive’s employment under this Agreement terminates, he will not, unless he receives the prior approval of the Board, directly or indirectly engage in any of the following actions: 

(a) Own an interest in (except as provided below), manage, operate, join, control, lend money or render financial or other
assistance to, or participate in or be connected with, as an officer, employee, partner, stockholder, consultant or otherwise, any entity whose primary business is the retail sale of barbequed food. However, nothing in this subsection shall preclude
Executive from holding (i) less than one percent (1%) of the outstanding capital stock of any corporation required to file periodic reports with the Securities and Exchange Commission under Section 13 or 15(d) of the Securities
Exchange Act of 1934, as amended, the securities of which are listed on any securities exchange, quoted on the National Association of Securities Dealers Automated Quotation System or traded in the over-the-counter market, or (ii) holding an
interest in the restaurant concepts which Executive was involved with in the last year preceding the date of this Agreement. 
 (b) Intentionally solicit, endeavor to entice away from the Company, or otherwise interfere with the relationship of the Company, any person who is employed by or otherwise engaged to perform services for
the Company (including, but not limited to, any independent sales representatives or organizations), whether for Executive’s own account or for the account of any other individual, partnership, firm, corporation or other business organization.

 If the scope of the restrictions in this section are determined by a court of competent jurisdiction to be too broad to permit enforcement of
such restrictions to their full extent, then such restrictions shall be construed or rewritten (blue-lined) so as to be enforceable to the maximum extent permitted by law, and Executive hereby consents, to the extent he may lawfully do so, to the
judicial modification of the scope of such restrictions in any proceeding brought to enforce them. 
 ARTICLE III

 INTELLECTUAL PROPERTY 
 In consideration of the Company’s employment of Executive hereunder, Executive acknowledges that any and all patents, licenses, copyrights, trade names, trademarks, assumed names, service marks,
promotional/marketing/advertising campaigns, designs, logos, slogans, computer software and other intellectual property developed, conceived or created by Executive in the course of his employment by the Company, either individually or in
collaboration with others, and whether or not during normal working hours or on the premises of the Company (collectively, “Developments”) shall be, as between the Company and Executive, the sole and absolute property of the Company
and Executive agrees that he will at the Company’s request and cost take whatever action is necessary to secure the rights thereto by patent, copyright, assignment or otherwise to the Company. Executive agrees to make full and prompt disclosure
to the Company of all such Developments arising during the term of this Agreement. 
 ARTICLE IV 

EMPLOYMENT; SEVERANCE 
 4.1 Employment. Executive is employed by the Company on an at-will basis, meaning that either party may terminate the relationship at any time, for any lawful reason. 

 4.2 Termination of Employment. 

(a) Termination for Cause. The Company may terminate the employment of Executive at any time for Cause (such termination being
herein called a “Termination for Cause”). For the purposes of this Agreement, “Cause” will include the following: 
 (i) Executive’s dishonesty involving or affecting the Company, or any misappropriation of the funds or property of the Company; 

(ii) Executive’s conviction of a crime that constitutes (1) a felony, (2) a misdemeanor involving moral turpitude or
(3) criminal conduct which has, or could reasonably be expected to have, an adverse effect on the Company, its business, reputation or interests; 
 (iii) Breach of any written agreement between Executive and the Company or to which the Company and Executive are Parties, or a breach by Executive of any fiduciary duty or responsibility to the Company;

 (iv) The refusal of Executive to follow the reasonably assigned duties or comply with the policies and directives of the
Company if not cured within thirty (30) days following written notice by the Company; 
 (v) The misconduct, failure or
negligence of Executive in the performance of his duties if not cured within thirty (30) days following written notice by the Company; or 
 (vi) Use of alcohol or drugs which interferes with the performance of Executive’s obligations or duties under this Agreement; or any use of illegal drugs. 

(b) Termination Without Cause. The Company may terminate Executive’s employment for any legal reason at any time, without
notice (“Termination without Cause”). 
 (c) Effect of Termination. 

(i) Termination by the Company Without Cause. If Executive is terminated without Cause by the Company, and other than as a result
of Executive’s death or disability (which termination will be governed by Section 4.2(c)(iv) below), (A) Executive will be entitled to receive severance pay (“Severance”) in an amount equal to eighteen
(18) months of his annualized base salary at the time of termination (excluding any bonuses), and (B) the Company will pay that portion of Executive’s premium for group medical and dental insurance that it paid at the time of
Executive’s separation from service, as contemplated by Section 4.4 below (“Insurance Benefits”). If Executive commences employment or receives an offer of employment during the period in which Severance payments are made,
Executive has an affirmative obligation to inform the Company and the Company shall receive a dollar-for-dollar credit against its Severance payment obligations hereunder with respect to compensation and benefits (other than customary insurance
benefits) received by Executive in his new employment. For purposes of this Section 4.2(c), the “Outside Payment Date” shall mean March 15 of the calendar year following the year in which termination of employment under
this Section 4.2(c) occurs. 
 (ii) Termination by the Company for Cause. Upon the termination of Executive’s
employment pursuant to a Termination for Cause, Executive will be entitled to receive only Executive’s annualized base salary (pro rata) through the date of Executive’s termination. If Executive is terminated for Cause, he will not be
entitled to any Severance payments or Insurance Benefits (as detailed in Section 4.2(c)(i) of this Agreement) from the Company. 

 (iii) Voluntary Termination. If the Executive voluntarily terminates
Executive’s employment with the Company, for any reason, Executive will be entitled to receive Executive’s annualized base salary (pro rata) through the date of Executive’s termination. Except as provided in Section 4.2(c)(v) of
this Agreement, if Executive terminates his employment with the Company, for any reason, Executive will not be entitled to the Severance payments or Insurance Benefits (detailed in Section 4.2(c)(i) of this Agreement) from the Company. If the
Company receives notice from the Executive of his intent to leave the Company and the Company elects to immediately end the employment relationship, Executive will not be entitled to any Severance payments or Insurance Benefits (as detailed in
Section 4.2(c)(i) of this Agreement) from the Company. 
 (iv) Death or Disability of Executive. If Executive dies
or becomes disabled during the term of his employment with the Company, Executive will be entitled to receive his annualized base salary (pro rata) through the termination date of his employment. Executive will be considered “disabled” if
by reason of any mental, sensory, or physical impairment, Executive is unable to perform the essential functions of Executive’s duties hereunder with or without reasonable accommodation, or any such accommodations would impose an undue hardship
on the Company’s business. If Executive’s employment is terminated due to death or disability, Executive will not be entitled to any Severance payments or Insurance Benefits (as detailed in Section 4.2(c)(i) of this Agreement) from
the Company. 
 (v) Change of Control. In lieu of any other benefits payable under this Agreement, if Executive is
terminated by the Company without Cause, Executive’s employment is terminated as a result of his death or disability, or Executive voluntarily terminates his employment, in each case within the Election Period (as defined below),
(A) Executive will be entitled to receive Severance pay in an amount equal to eighteen (18) months of his annualized base salary at the time of termination (excluding any bonuses), (B) Executive will be entitled to receive the full
(100% of “target” bonus) amount of Executive’s performance based cash bonus under the Company’s executive bonus plan bonus for the year in which such Change of Control occurs (“Incentive Bonus”), and (C) the
Company will pay that portion of Executive’s premium for group medical and dental insurance that it paid at the time of Executive’s separation from service as contemplated by Section 4.4 below. If Executive commences employment with
another employer or receives an offer of employment during the period in which any Severance or Incentive Bonus payments are made, Executive has an affirmative obligation to inform the Company and the Company shall receive a dollar-for-dollar credit
against its Severance and Incentive Bonus payment obligations thereafter payable hereunder with respect to compensation and benefits (other than customary insurance benefits) received by Executive in his new employment during such 18 month period.

 4.3 Timing of Payments. Severance will be paid out in installments over the eighteen (18) month period following
Executive’s “separation from service” (as defined under Section 409A of the Internal Revenue Code of 1986, as amended) (“Code Section 409A”) in accordance with the Company’s regular payroll, subject to
the provisions of Code Section 409. Incentive Bonus shall only be paid following the Executive’s separation from service with the Company and shall be determined in accordance with the Company’s regular bonus payment practices,
subject to the provisions of Code Section 409A. Without limiting the generality of the preceding sentence, and except as otherwise provided herein, payments of the Incentive Bonus for the year in which a Change of Control occurs shall be due
and payable at the same times as they otherwise would be due in accordance with the Company’s regular bonus payment practices. Notwithstanding anything herein to the contrary, (a) if at the time of the Executive’s termination of
employment with the Company the Company’s common stock is publicly 

 traded (as determined under Code Section 409A), (b) the Executive is a “specified
employee” (as determined under Code Section 409A), and (c) any portion of the amounts payable under Section 4.2(c)(i) or 4.2(c)(v) above would exceed the sum of the applicable limited separation pay exclusions as determined
pursuant to Code Section 409A, then payment of the excess amount shall be delayed until the first regular payroll date of the Company following the six month anniversary of the date of Executive’s separation from service (or, if earlier,
the date of his death), and shall include a lump sum equal to the aggregate amounts that Executive would have received had payment of this excess amount commenced following the date of Executive’s separation from service as provided in Sections
4.2(c)(i) or (4.2(c)(v)) above. 
 4.4 Insurance Benefits. Pursuant to federal and state law, Executive may, for a
period of up to eighteen (18) months, as and to the extent provided under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) (such period is referred to as the “COBRA Eligibility
Period”), continue the group medical and dental insurance coverage previously provided to Executive by the Company. As additional consideration for Executive’s promises herein, if Executive timely elects COBRA continuation coverage and
maintains such COBRA coverage, the Company will pay that portion of the premium for group medical and dental insurance that the Company paid at the time of Executive’s separation from service, with the remainder to be paid by Executive, through
the earlier of (i) the expiration of the COBRA Eligibility Period or earlier termination of COBRA continuation coverage, or (ii) Executive commencing employment with a new employer and becoming eligible for coverage under a group health
plan that would permit the Company to terminate COBRA continuation coverage (hereinafter “COBRA Payment Termination Date”). If and to the extent that Executive is eligible and desires to maintain COBRA continuation coverage from and
after the COBRA Payment Termination Date, Executive will be required to pay the entire premium for such benefits for any portion of the remainder of Executive’s COBRA Eligibility Period in order to retain such coverage. 

4.5 Conditions of Payment. Notwithstanding anything herein to the contrary, any Severance, Incentive Bonus or Insurance Benefits
described in this Article IV shall be made available to Executive if and only if Executive has executed and delivered to the Company a general release in form and substance reasonably satisfactory to the Company (the “Release”)
within fourteen (14) days following termination of employment and has not revoked the Release as of the expiration of all applicable revocation periods, and only so long as Executive has not breached the provisions of the Release, has not
breached the provisions of Articles I, II or III, and has not applied for unemployment compensation chargeable to the Company or any affiliates. 
 4.6 Withholding. The Company shall withhold from all amounts payable to Executive under this Agreement all applicable federal, state and local income taxes, Social Security contributions and such
other payroll taxes and deductions as may be required by law. 
 4.7 Definitions. For purposes of this Article 4:

 (a) “Change of Control” shall mean the occurrence of any of the following events: (A) any person or
group of persons becomes the beneficial owner of thirty-five percent (35%) or more of any equity security of the Company entitled to vote for the election of directors; (B) a majority of the members of the board of directors of the Company
is replaced within the period of less than two (2) years by directors not nominated and approved by the board of directors; or (C) the stockholders of the Company approve an agreement to sell or otherwise dispose of all or substantially
all of the Company’s 

 
assets (including a plan of liquidation) or to merge or consolidate with or into another corporation except for a merger whereby the stockholders of the Company prior to the merger own more than
fifty percent (50%) of the equity securities entitled to vote for the election of directors of the surviving corporation immediately following the merger; 
 (b) “Election Period” shall mean the period commencing upon a Change of Control and ending on the earlier of the six (6) month anniversary of such Change of Control or fifteen
(15) calendar days prior to the Outside Payment Date; and 
 (c) “Outside Payment Date” shall mean
March 15 of the calendar year following the year in which a Change of Control occurs. 
 ARTICLE V 

MISCELLANEOUS 
 5.1 Remedies. Executive acknowledges that the Company’s remedy at law for any breach or threatened breach by Executive of Articles I, II and III will be inadequate. Therefore, the Company
shall be entitled to injunctive and other equitable relief restraining Executive from violating those requirements, in addition to any other remedies that may be available to the Company under this Agreement or applicable law. 

5.2 Prior Agreements. This Agreement and the Employment Offer Letter contain the entire understanding of the parties with regard
to all matters contained herein. There are no other agreements, conditions or representations, oral or written, expressed or implied relating to such matters. This Agreement supersedes any prior agreements relating to the payment of severance to
Executive by the Company. 
 5.3 Assignment. This Agreement shall be binding upon, and shall inure to the benefit of, the
parties and their respective successors, assigns, heirs and personal representatives and any entity with which the Company may merge or consolidate or to which the Company may sell substantially all of its assets, provided that this Agreement may
not be assigned by Executive. 
 5.4 Governing Law. Because (a) Company is a Minnesota company with its principal
place of business in Minnesota, (b) many of Company’s significant contracts are governed by Minnesota law, and (c) it is mutually agreed that it is in the best interests of Company customers, vendors of the Company, and employees that
a uniform body of law consistently interpreted be applied to the relationships that Company has with other such persons and entities, this Agreement is deemed entered into in the State of Minnesota between Company and Executive. The substantive laws
of Minnesota and the exclusive jurisdiction and venue of the courts of Minnesota will be applicable hereto on the terms and conditions of this Section. 
 5.5 Section Headings; Gender; Number. The article and section headings in this Agreement are for convenience only; they form no part of this Agreement and will not affect its interpretation. Words
used herein, regardless of the number and gender specifically used, will be deemed and construed to include any other number, singular or plural, and any other gender, masculine, feminine or neuter, as the context requires. 

5.6 Amendment. This Agreement may be amended only in writing, signed by both parties. 

 5.7 Notices. Unless otherwise provided herein, any notice, request, instruction or
other document to be given hereunder by any party to any other party shall be in writing and shall be deemed to have been given (a) upon personal delivery, if delivered by hand, (b) three (3) days after the date of deposit in the
mails, postage prepaid, if mailed by certified or registered mail, or (c) the next business day if sent by facsimile transmission (if receipt is electronically confirmed) or by a prepaid overnight courier service, and in each case at the
respective addresses or numbers set forth below or such other address or number as such party may have fixed by notice: 
 If to
the Company, to: 
 Famous Dave’s of America, Inc. 

12701 Whitewater Drive, Suite 200 
 Minnetonka, MN 55343 
 Attention: Chairman of the Board 

If to Executive, to: 
 John F. Gilbert III 
 3 Greengate Rd. 

Woodstock, VT 05091 
 or to
such other addresses as either party may designate in writing to the other party from time to time. 
 5.8 Survival. The
provisions of Articles I, II, III, IV and Sections 5.1, 5.2, 5.4, 5.5, 5.7, 5.8, 5.10, 5.11, and 5.14 shall survive any termination of Executive employment with the Company or any termination of this Agreement. 

5.9 Waiver of Breach. Any waiver by either party of compliance with any provision of this Agreement by the other party shall not
operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach by such party of a provision of this Agreement. 
 5.10 Severability. If any one or more of the provisions (or portions thereof) of this Agreement shall for any reason be held by a final determination of a court of competent jurisdiction to be
invalid, illegal, or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions (or portions of the provisions) of this Agreement, and the invalid, illegal or unenforceable provisions shall be
deemed replaced by a provision that is valid, legal and enforceable and that comes closest to expressing the intention of the parties hereto. 
 5.11 Arbitration. Subject to Section 5.1, any controversy or claim arising out of or relating to this Agreement or the breach of this Agreement shall be settled by arbitration in accordance
with the Commercial Arbitration Rules of the American Arbitration Association, and a judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction. The arbitration award shall be subject to review only in the
manner provided in the Uniform Arbitration Act as adopted in Chapter 572, Minnesota Statutes, as the Act is amended at the time of submission of the issue to arbitration. The arbitrator(s) shall have the authority to award the prevailing party its
costs and reasonable attorneys’ fees which shall be paid by the non-prevailing party. In the event the parties hereto agree that it is necessary to litigate any dispute hereunder in a court, the non-prevailing party shall pay the prevailing
party its costs and reasonable attorneys’ fees. 

 5.12 No Conflict. Executive represents and warrants that he is not subject to any
agreement, instrument, order, judgment or decree of any kind, or any other restrictive agreement of any character, which would prevent him from entering into this Agreement or which would be breached by Executive upon his performance of his duties
pursuant to this Agreement. 
 5.13 Counterparts. This Agreement may be executed in counterparts, but each of these
counterparts shall, for all purposes, be deemed to be an original, but both counterparts shall together constitute one and the same instrument. 
 5.14 Compliance with Code Section 409A. To the extent any provision of this Agreement may be deemed to provide a benefit to Executive that is treated as non-qualified deferred compensation
pursuant to Code Section 409A, such provision shall be interpreted in a manner that qualifies for any applicable exemption from compliance with Code Section 409 or, if such interpretation would cause any reduction of benefit(s), such
provision shall be interpreted (if reasonably possible) in a manner that complies with Code Section 409A and does not cause any such reduction. To the extent required by Code Section 409A, references herein to the Executive’s
“termination of employment” shall refer to the Executive’s “separation from service” (within the meaning of Code Section 409A) with the Company (as defined to include any affiliates required to be taken into account for
that definition of separation from service). 
 Signature Page Follows 

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

 

			
	FAMOUS DAVE’S OF AMERICA, INC.:
		
	By:	 	/s/ Dean A. Riesen
	Name:   Dean A. Riesen
	Title:     Chairman of the Board
		
	 	 	/s/ John F. Gilbert III
	John F. Gilbert III

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