Officer Compensation Revision Letter Agreement between Pyramid Breweries and John Lennon

Summary

This letter agreement documents changes to the compensation package for John Lennon, Chief Executive Officer of Pyramid Breweries. Effective March 25, 2006, John Lennon will receive a base salary of $260,000 per year, paid bi-weekly, and a monthly car allowance of $575. The agreement is signed by Scott Barnum, Director and Compensation Committee Chair, and John Lennon. It outlines the revised salary and benefits for the CEO position.

EX-10.39 3 v20565exv10w39.txt EXHIBIT 10.39 EXHIBIT 10.39 [PYRAMID BREWERIES LOGO] April 26, 2006 TO: JOHN LENNON FROM: SCOTT BARNUM RE: REVISION IN OFFICER COMPENSATION Dear John: This letter is to document changes to your compensation package for your position as Chief Executive Officer for Pyramid Breweries. Effective March 25, 2006; 1. Your base salary will be $10,000.00 ($260,000 per annum), payable bi-weekly in arrears, by direct bank transfer. 2. Your car allowance will be $575.00 per month. I am excited about our future together as part of the Board of Directors at Pyramid Breweries and want to extend to you my thanks and gratitude for your contribution thus far to the company. Sincerely, Scott Barnum ______________________ Director and Compensation Committee Chair Date Pyramid Breweries Board of Directors _______________________________________ ______________________ John Lennon Date