EXECUTIVE EMPLOYMENT AGREEMENT — AMENDMENT NO. 3 (Amended)
THIS EXECUTIVE EMPLOYMENT AGREEMENT — AMENDMENT NO. 3 (this
“Agreement”) is made and entered into effective June 17, 2010, by and between Granite City Food & Brewery
Ltd. (the “Company”) and James G. Gilbertson (“Executive”).
A. Executive is employed by the Company pursuant to an employment agreement made and entered into
November 29, 2007, as amended October 5, 2009 (the “Employment Agreement”).
B. Whereas it is desirable to amend the Employment Agreement to extend the term of Executive’s
employment and to confirm certain severance arrangements in connection therewith.
NOW, THEREFORE , in consideration of the premises, the parties hereto agree as follows:
1. Defined Terms . All capitalized terms not otherwise defined herein shall have the meanings
ascribed to them in the Employment Agreement.
2. Term of Agreement . Article 3 of the Employment Agreement is hereby amended and restated
to read as follows:
3.02 Executive’s employment pursuant to this Agreement shall continue for a term ending on
October 6, 2012 (the “Termination Date”). The term of the Executive’s employment shall automatically
be extended for successive one year periods unless the Company or Executive elects not to extend
employment by giving written notice to the other not less than sixty (60) days prior to the Termination
Date or the end of any extension periods. If Executive’s employment continues beyond the Termination
Date after either party has given notice not to extend for an additional year, such employment shall
continue on an at-will basis under the remaining terms and conditions of this Agreement, as amended
hereby, and as the same may be amended from time to time with the consent of the Company and
Executive, except that the second paragraph of Section 4.01 shall be inapplicable and