TERMINATION AGREEMENT
Each of the undersigned hereby agrees as follows:
RECITALS
WHEREAS, on or about June 4, 1996, the parties hereto entered into a Stock
Purchase Agreement and other related documents pursuant to which Rock Bottom
Restaurants, Inc., a Delaware corporation ("Rock Bottom"), purchased all of the
shares of the capital stock of TBB Acquisition Group, Inc., a Tennessee
corporation ("TBAG"), from the Shareholders (as defined below).
WHEREAS, TBAG is the owner of fifty percent (50 %)of the issued and
outstanding shares of the common stock of Trolley Barn Brewery, Inc., a
Tennessee corporation ("Trolley"), and TBB Holding Company, Inc., a Tennessee
corporation ("TBB Holding"), is the owner of the other fifty percent (50%) of
the issued and outstanding shares of the common stock of Trolley.
WHEREAS, pursuant to a Stock Redemption Agreement of even date herewith,
Trolley shall purchase and Rock Bottom shall sell all of the issued and
outstanding shares of TBAG.
WHEREAS, in connection with the Stock Redemption Agreement, any and all
agreements among Rock Bottom and any of the other parties hereto in existence on
the date hereof (other than the Stock Redemption Agreement and the other
agreements to be entered into in connection therewith) (the "Existing
Agreements") will be terminated.
AGREEMENT
NOW, THEREFORE, the parties hereto agree as follows:
1. All of the Existing Agreement, including but not limited to the
following agreements, are hereby terminated:
a. Stock Purchase Agreement, dated June 4, 1996, among Rock
Bottom, TBAG, Trolley, TBB Holding and the Shareholders;
b. Shareholder Agreement, dated June 28, 1996, among Trolley,
Rock Bottom, TBAG and TBB Holding;
c. Escrow Agreement, dated June 28, 1996, among Trolley, Rock
Bottom, TBAG and TBB Holding;
d. Option Agreement, dated July 1, 1996, among Trolley, Rock
Bottom, TBAG and TBB Holding granting to Rock Bottom and TBAG
the option to purchase stock of TBB Holding;
e. License and Development Agreement, dated July 1, 1996,
between Rock Bottom and Trolley;
f. Operations Agreement, dated July 1, 1996, between Rock Bottom
and Trolley;
g. Assignment of Inventions and Non-Disclosure Agreement, dated
July 1, 1996, and executed by Xxx X. Xxxxxx, Trolley and
Rock Bottom; and
h. Non-Competition, Assignment of Inventions and Non-Disclosure
Agreement, dated July 1, 1996, and executed by Xxxxxx X.
Xxxxxx, Trolley and Rock Bottom.
2. The parties hereto agree that, upon the execution and delivery of this
Agreement, the Existing Agreements will be completely and fully terminated.
3. The parties represent and warrant that they are authorized to execute
and fully perform this Agreement.
4. This Agreement constitutes the entire understanding and agreement
between the parties with respect to the subject matter hereof and supersedes all
previous communications, proposals, representations and understandings, whether
oral or written, relating hereto.
5. The validity, interpretation and performance of this Agreement shall be
governed by and construed in accordance with the laws of the State of Tennessee,
without regard to its choice of law principles. The parties hereto hereby submit
to jurisdiction and venue in the state and federal courts in the State of
Tennessee in any legal action relating to this Agreement.
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IN WITNESS WHEREOF, this Termination Agreement is effective as of the
17th day of November, 1998.
ROCK BOTTOM RESTAURANTS, INC., TROLLEY BARN BREWERY, INC.,
a Delaware corporation a Tennessee corporation
By: /S/XXXXXXX X. XXXXX By: /S/H. XXXXX XXXXX
----------------------------------- ----------------------------------
Xxxxxxx X. Xxxxx Name:
Executive Vice President --------------------------------
Title:
-------------------------------
TBB HOLDING COMPANY, INC., TBB ACQUISITION GROUP, INC.,
a Tennessee corporation a Tennessee corporation
By: /S/H. XXXXX XXXXX By: /S/XXXXXXX XXXXX
----------------------------------- ----------------------------------
Name: Name: Xxxxxxx Xxxxx
--------------------------------- --------------------------------
Title: Title: President
-------------------------------- -------------------------------
BIG RIVER BREWERIES, INC., BIG RIVER PROPERTIES, INC.,
a Tennessee corporation a Tennessee corporation
By: /S/H. XXXXX XXXXX By: /S/H. XXXXX XXXXX
----------------------------------- ----------------------------------
Name: Name:
--------------------------------- --------------------------------
Title: Title:
-------------------------------- -------------------------------
SHAREHOLDERS:
/S/XXX X. XXXXXX /S/XXXXXX X. XXXXXX
------------------------------------- -------------------------------------
Xxx X. Xxxxxx Xxxxxx X. Xxxxxx
/S/XXXX X. XXXXXX /S/XXXXX X. XXXXXX
------------------------------------- -------------------------------------
Xxxx X. Xxxxxx Xxxxx X. Xxxxxx
/S/XXXXXX X. XXXXXXX, XX by
H. Xxxxx Xxxxx, Attorney-in-Fact /S/H. XXXXX XXXXX
------------------------------------- -------------------------------------
Xxxxxx X. Xxxxxx, XX H. Xxxxx Xxxxx
[ADDITIONAL SIGNATURES ON FOLLOWING PAGE]
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/S/XXXXX X. XXXXXX /S/XXXX X. XXX
------------------------------------- -------------------------------------
Xxxxx X. Xxxxxx Xxxx X. Xxx
Xxx X. Xxxxxx 1997 Trust
/S/XXXXXXX X. XXXX, XX.
-------------------------------------
Xxxxxxx X. Xxxx, Xx. By:/S/W. XXXXX XXXXXXXX, XX.
----------------------------------
W. Xxxxx XxXxxxxxx, Xx., Trustee
/S/XXXXX X. XXXXXXXX /S/XXXXX XXXXXXXX
------------------------------------- -------------------------------------
Xxxxx X. XxXxxxxx Xxxxx Xxxxxxxx
/S/XXXX X. XXXXX /S/XXXXXXXX X. XXXXXXXX
------------------------------------- -------------------------------------
Xxxx X. Xxxxx Xxxxxxxx X. Xxxxxxxx
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