<SUBMISSION>
<ACCESSION-NUMBER>0001104659-18-006543
<TYPE>8-K
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<PERIOD>20180130
<ITEMS>5.05
<ITEMS>7.01
<ITEMS>9.01
<FILING-DATE>20180205
<DATE-OF-FILING-DATE-CHANGE>20180205
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>FAMOUS DAVES OF AMERICA INC
<CIK>0001021270
<ASSIGNED-SIC>5812
<IRS-NUMBER>411782300
<STATE-OF-INCORPORATION>MN
<FISCAL-YEAR-END>1229
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-21625
<FILM-NUMBER>18575218
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>12701 WHITEWATER DRIVE
<STREET2>SUITE 200
<CITY>MINNETONKA
<STATE>MN
<ZIP>55343
<PHONE>952-294-1300
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>12701 WHITEWATER DRIVE
<STREET2>SUITE 200
<CITY>MINNETONKA
<STATE>MN
<ZIP>55343
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a18-5330_18k.htm
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<TEXT>


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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED STATES</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">WASHINGTON, D.C. 20549</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT REPORT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">PURSUANT TO SECTION&nbsp;13 OR 15(D)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">OF THE SECURITIES EXCHANGE ACT OF 1934</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Date of Report (Date of earliest event reported): January&nbsp;30, 2018</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="6" face="Times New Roman" style="font-size:24.0pt;font-weight:bold;">FAMOUS DAVE&#146;S OF AMERICA,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(Exact name of registrant as specified in its charter)</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Minnesota</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">0-21625</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">41-1782300</font></b></p>    </td>   </tr>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">(State or other jurisdiction</font></b><br>    <b><font size="1" style="font-size:8.0pt;font-weight:bold;">of   incorporation)</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">(Commission</font></b><br>    <b><font size="1" style="font-size:8.0pt;font-weight:bold;">File   Number)</font></b></p>    </td>
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<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">(IRS Employer</font></b><br>    <b><font size="1" style="font-size:8.0pt;font-weight:bold;">Identification   No.)</font></b></p>    </td>   </tr>  </table>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">(Address of principal executive offices) (Zip Code)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">12701 Whitewater Drive, Suite&nbsp;190, Minnetonka, MN 55343</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(952) 294-1300</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">(Registrant&#146;s telephone number, including area code)</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box below if the Form&nbsp;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Indicated by check mark whether the registrant is an emerging growth company as defined in Rule&nbsp;405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule&nbsp;12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2&nbsp;of this chapter).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Emerging growth company&nbsp;</font><font face="Wingdings">o</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a)&nbsp;of the Exchange Act.&nbsp;</font><font face="Wingdings">o</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 5.05. Amendments to the Registrant&#146;s Code of Ethics, or Waiver of a Provision of the Code of Ethics.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On January&nbsp;30, 2018, Famous Dave&#146;s of America,&nbsp;Inc. (the &#147;Company&#148;) amended its Code of Conduct and Ethics (the &#147;Code&#148;) to make substantive amendments to existing provisions covering the consequences of failing to report violations of law or the Code and where to find information on how to report a violation or suspected violation using the Company&#146;s Ethics and Business Conduct Hotline Service; and to make other technical, administrative, stylistic, and non-substantive changes to the Code.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This foregoing summary is qualified in its entirety by reference to the full text of the revised Code, which is included as an exhibit to this Current report on Form&nbsp;8-K, and which can be found on the Company&#146;s corporate website at <u><font color="#0563c1" style="color:#0563C1;">www.famousdaves.com</font></u> under &#147;Investor Relations &#151; Corporate Governance &#151; Governance Documents &#151; Code of Ethics and Business Conduct Policy.&#148;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 7.01. Regulation FD Disclosure</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company has determined to defer the record date and launch for its previously announced Rights Offering until after the filing of its Annual Report on Form&nbsp;10-K for its 2017 fiscal year, which is expected to be filed in early March&nbsp;2018.&#160; This deferral is being taken to reduce the expenses associated with the Rights Offering.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The securities to be offered in the Rights Offering have not been registered under the Securities Act of 1933, as amended.&nbsp; The securities to be offered in the Rights Offering may not be offered or sold nor may offers to buy be accepted prior to the time the registration statement has become effective.&nbsp; The Rights Offering, which is expected to commence following the effectiveness of the registration statement, will only be made by means of a prospectus to be filed as part of the registration statement.&nbsp; The terms of the Rights Offering, including subscription price, subscription ratio, the record date for the distribution of the subscription rights and the subscription period, will be included in the prospectus.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Form&nbsp;8-K does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.&nbsp; Investors should read the prospectus, when available, and consider the investment objective, risks, fees and expenses of the Company carefully before investing.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">Item 9.01. Financial Statements and Exhibits </font></b></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">(d)&nbsp;Exhibits</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>    </td>   </tr>
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<p style="margin:6.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>    </td>
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<p style="margin:6.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="a18-5330_1ex99d1.htm#Exhibit99_1_071306" title="Click to goto ">Famous Dave&#146;s of America,&nbsp;Inc. Code of Ethics and   Business Conduct</a></font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURE</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:24.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">F</font>AMOUS DAVE&#146;S OF AMERICA,&nbsp;INC.</p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: February&nbsp;5,   2018</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Dexter Newman</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Dexter Newman</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: Chief Financial   Officer and Secretary</font></p>    </td>   </tr>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">Exhibit 99.1<a name="Exhibit99_1_071306"></a></font></b></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="7" color="black" face="Arial" style="color:black;font-size:35.0pt;font-weight:bold;">DO THE RIGHT THING.</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" color="black" face="Arial" style="color:black;font-size:14.0pt;font-weight:bold;">FAMOUS DAVE&#146;S OF AMERICA,&nbsp;INC.</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" color="black" face="Arial" style="color:black;font-size:14.0pt;font-weight:bold;">CODE OF ETHICS AND BUSINESS CONDUCT</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">As Amended and Approved by the Board of Directors,</font></b><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;"> January&nbsp;2018.</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Dear Famous Dave&#146;s of America Team Member,</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Famous Dave&#146;s of America (&#147;FDA&#148;) strives to be The Absolute Best in BBQ, Ever!&#160; This can be achieved by first dedicating ourselves to the highest ethical standards possible.&#160; All Team Members, including our directors and officers, should ensure that we strive for excellence every day and do so ethically.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">The FDA Code of Ethics and Business Conduct clarifies our standards of conduct in potentially sensitive situations; it makes clear that Famous Dave&#146;s of America expects all Team Members to understand and appreciate the ethical considerations of their decisions; and it reaffirms our long-standing accountability for the highest ethical and business practices.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">You are expected to read the FDA Code of Ethics and Business Conduct in its entirety, discuss questions you may have with your immediate supervisor, sign the certificate of compliance and return it to your supervisor.&#160; The certificate will be placed in your file and the booklet is yours to use for future reference.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">As a part of the FDA Code of Ethics and Business Conduct policy, all Support Center Team Members and field Team Members Manager-level and above will be asked to review the Code and sign the Certificate of Compliance indicating their understanding and compliance on an annual basis.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Be Famous!</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font face="Arial">2</font><a name="PB_2_071510_4976"></a></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">The FDA Code of Ethics and Business Conduct applies to all Team Members, directors, and officers of Famous Dave&#146;s of America,&nbsp;Inc. and its operating subsidiaries (each is referred to as the &#147;Company&#148;).&#160; It is important to the success of the Code that each Team Member understands that:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">We should help to safeguard the Company&#146;s reputation for integrity in our business dealings.&#160; We are each personally responsible for our own conduct in complying with the FDA Code of Ethics and Business Conduct as it pertains to our jobs.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">We are responsible for promptly reporting known or suspected violations to the individuals designated for this purpose.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">We should seek assistance when we have questions about the FDA Code of Ethics and Business Conduct or when faced with a challenging ethical situation.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" face="Arial" style="font-size:12.0pt;">No one has the authority or right to order, direct, request, encourage or even influence someone else to violate the FDA Code of Ethics and Business Conduct or the law.&#160; Thus, no one will be excused for violating the FDA Code of Ethics and Business Conduct or the law at the direction or request of someone else.&#160;&#160; However, it is important to note that the failure to promptly report suspected violations of law or the FDA Code of Ethics and Business Conduct may result in disciplinary action, up to and including termination of employment.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" face="Arial" style="font-size:12.0pt;">Any attempt by a Team Member to have someone else violate the FDA Code of Ethics and Business Conduct, whether successful or not, is itself<font color="black" style="color:black;"> a violation of the FDA Code of Ethics and Business Conduct and may be a violation of the law.</font></font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Any retaliation or threat to retaliate against a Team Member for refusing to violate the FDA Code of Ethics and Business Conduct or for reporting in good faith a violation or a suspected violation of the FDA Code of Ethics and Business Conduct, is itself a violation of the FDA Code of Ethics and Business Conduct and may be a violation of the law.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Every report of a suspected violation of the FDA Code of Ethics and Business Conduct will be investigated and every violation will result in disciplinary action, up to and including immediate dismissal of the Team Member.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font face="Arial">3</font><a name="PB_3_071614_5335"></a></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="4" color="black" face="Arial" style="color:black;font-size:14.0pt;font-weight:bold;">Overall Standard</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Famous Dave&#146;s of America,&nbsp;Inc.&#146;s guidelines for business conduct flow from our commitment to excellence and from our Famous heritage. These key elements are of the utmost importance for the proper conduct and respect for all individuals.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Famous Dave&#146;s of America,&nbsp;Inc. depends on the character of its Team Members.&#160; That character is reflected in our leadership values.&#160; This includes attracting and recruiting quality, knowledgeable, honorable people with leadership skills and a passion for doing their best.&#160; We value our guests, Team Members and communities and strive to treat them with respect and to be service oriented in our interactions. We have confidence in each other&#146;s capabilities and intentions.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">The highest legal, moral and ethical standards of honesty, integrity and fairness are to be demonstrated in conducting all Famous Dave&#146;s of America,&nbsp;Inc. business dealings.&#160; All Team Members of the Company must always act in full compliance with all applicable federal, state and local laws, ordinances, regulations, and with the FDA Code of Ethics and Business Conduct.&#160; The failure to do so (or the failure to report promptly suspected violations of law or the FDA Code of Ethics and Business Conduct) may result in disciplinary action, up to and including termination of employment.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Some business activity is not governed by any law, and some laws and regulations set standards far below the expectations of the Company.&#160; In these situations, a Team Member should be able to answer, &#147;yes&#148; to the following questions before taking action:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" face="Arial" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-style:italic;font-weight:bold;">Is this action the &#147;right thing to do&#148;?</font></i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" face="Arial" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-style:italic;font-weight:bold;">Would this action withstand public scrutiny?</font></i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" face="Arial" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><i><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-style:italic;font-weight:bold;">Will this action uphold Famous Dave&#146;s reputation as an ethical company?</font></i></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">If the answers are not a definite &#147;yes,&#148; the Team Member should not take action.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">If a course of action seems questionable, please seek guidance from your supervisor or a Human Resources Team Member.&#160; We encourage open communications regarding the possible violation of the Company&#146;s ethical principles and business practices.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">1. Reporting Suspected Problems</font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">Famous Dave&#146;s of America encourages an open and honest dialog regarding ethical situations with multiple sources of assistance.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">If you have questions about an ethical situation, you should feel free to discuss them with a supervisor, a trusted leader in the organization, or a Human Resources Team Member.&#160; You will be assured confidentiality to the limit of the law and subject to the Company&#146;s need to investigate and take appropriate action with respect to violations or suspected violations of the FDA Code of Ethics and Business Conduct or a Company policy.&#160; If you do not wish to identify yourself when reporting a violation or suspected violation of the FDA Code of Ethics and Business Conduct, you may use the Company&#146;s Ethics and Business Conduct Hotline Service, which allows for confidential and anonymous reporting.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">In addition to any concerns you may have regarding a violation of the FDA Code of Ethics and Business Conduct, the Ethics and Business Conduct Hotline Service may be used to report potential violations of a Company policy or procedure, payroll or wage\working hours issues, accounting matters, internal accounting controls, or auditing matters.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">The Ethics and Business Conduct Hotline Service is available for use by all Team </font><font size="3" face="Arial" style="font-size:12.0pt;">Members.&#160; If you are making an anonymous report of a violation or suspected violation of any of the items listed above, please provide sufficient details to permit the Company to investigate the matter properly.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">Information on how to report a violation or suspected violation using the Ethics&nbsp;&amp; Business Conduct Hotline Service is posted in each location, on the Famous Dave&#146;s Portal, as well as on the Human Resources Information System.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">It is against the Company&#146;s policy to retaliate against any Team Member, officer or director for any good faith reporting of a violation or suspected violation of the FDA Code of Ethics and Business Conduct.&#160; If you feel you have been retaliated against for making a good faith report, you should immediately contact your supervisor, a Human Resources Team Member, or the Ethics and<font color="black" style="color:black;"> Business Conduct Hotline.</font></font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="4" color="black" face="Arial" style="color:black;font-size:14.0pt;font-weight:bold;">2. Personal Behavior in the Workplace</font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">Famous Dave&#146;s of America is committed to providing a respectful, positive environment and fair treatment to all Team Members.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">The Company strives to provide a safe, healthy and productive work environment.&#160; Each Team Member has a personal responsibility to other Team Members and to the Company to help eliminate actions or circumstances, which undermine this desired environment.&#160; Persons are considered for employment opportunities on the basis of merit, as measured against objective job requirements.&#160; Our policy forbids any discrimination, harassment or intimidation because of race, color, religion, gender, age, national origin, citizenship, sexual orientation, disability or any other protected class status under federal, state or local law.&#160; Team Members having questions or concerns</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">regarding application of these principles to the workplace are encouraged to bring them to a supervisor, a trusted leader in the organization, or a Human Resources Team Member.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Additionally, every Team Member is expected to perform his or her work in a safe manner, free of the influence of alcohol, illegal drugs or controlled substances.&#160; For additional information, please refer to the Company&#146;s separate policy regarding drugs and alcohol.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="4" color="black" face="Arial" style="color:black;font-size:14.0pt;font-weight:bold;">3. Conflicts of Interest</font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">Avoid any situation in which your personal interests conflict with Famous Dave&#146;s of America&#146;s interests.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Conflicts may arise when a Team Member or a member of his or her immediate family receives improper personal benefits as a result of the person&#146;s position with the Company.&#160; Each Team Member owes Famous Dave&#146;s of America a duty of loyalty.&#160; For that reason, all Team Members must exercise great care any time their personal interests conflict with the Company&#146;s interests.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">The Company will take necessary steps to avoid improper reporting relationships and will not allow team members to directly or indirectly supervise or report to persons with whom they have a family or a close personal relationship. Team Members must not allow romantic relationships or friendships with other Team Members to impair their job performance, adversely affect others or create a hostile work environment for others.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Team Members are able to engage in outside activities of their own free choice.&#160; It is important, however, that such activities do not adversely affect the conduct of Company business, involve misuse of Company position or resources, divert for personal gain any business opportunity from which Famous Dave&#146;s of America,&nbsp;Inc. may profit without prior notification and prior approval from the Board of Directors or constitute a potential source of discredit to the Famous Dave&#146;s of America,&nbsp;Inc. name.&#160; The following is a nonexclusive list of examples of prohibited conflicts of interest:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Consulting with or employment in any capacity by a competitor or supplier of Famous Dave&#146;s of America (except by non-management, restaurant&#150;level Team Members with supervisor knowledge).</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Having a substantial equity, debt, or other financial interest in any competitor, or supplier without prior disclosure thereof and receipt of approval from the Board of Directors.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Having a financial interest in any transaction involving the purchase or sale by Famous Dave&#146;s of America,&nbsp;Inc. of any product, material, equipment services or property without prior disclosure thereof and receipt of approval from the Board of Directors.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Misusing the Company&#146;s confidential proprietary information, including the unauthorized disclosure or use of such information.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Using Company materials, equipment or other assets for any unauthorized or undisclosed purpose.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Receiving loans or guarantees of obligations from the Company without Board of Director authorization.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">The Company policy regarding possible conflicts of interest is based on the principle that a Team Member&#146;s business decisions must be made solely in the best interests of Famous Dave&#146;s of America.&#160; To reach that decision, a Team Member should avoid influence from personal or family considerations that might affect his or her judgment as to what is in the best interests of the Company.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">4.&#160; Communication Procedures</font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">Famous Dave&#146;s of America,&nbsp;Inc. restricts who may communicate information to the public.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">You may not communicate externally on behalf of the Company unless you are authorized to do so.&#160; The Company has established specific policies regarding who may communicate information to the public, the press, market professionals (such as securities analysts, institutional investors, investment advisors, brokers and dealers) and security holders on behalf of the Company.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">The Company&#146;s Chief Executive Officer, Chief Operating Officer, and the Chief Financial Officer, and their designees, are the Company&#146;s official spokespeople for financial matters, public comment, press, marketing, technical and other such information.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">You should refer all calls or other inquiries from the press or market professionals to the Chief Operating Officer; the aforementioned will see that the inquiry is directed to the appropriate person within the Company.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">All communications made to public audiences on behalf of the Company; including formal communications and presentations made to investors, customers or the press, require prior approval of the Chief Financial Officer and the Chief Executive Officer.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:2.0pt 0in .0001pt;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">5. Receipt of Gifts/Gratuities</font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">Famous Dave&#146;s of America,&nbsp;Inc. does not offer or accept kickbacks, bribes, or gifts of substantial value.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">Team Members may only exchange non-monetary and generally modestly valued gifts that promote goodwill with our business partners and do not improperly influence others.&#160; We will accept only approved and widely available discounts.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">Team Members may give or receive courtesies in Company-related business dealings with guests or suppliers provided the following guidelines are met:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" face="Arial" style="font-size:12.0pt;">They do not violate the law, regulations - or reasonable customs of the market place or the known policy of either party&#146;s employer.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">They are reasonable in cost, amount, quantity and frequency. A supervisor must approve any gift with a value </font><font size="3" face="Arial" style="font-size:12.0pt;">of $100 or<font color="black" style="color:black;"> more</font></font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">They are appropriate as to time and place.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">They do not influence or give the appearance of influencing the business judgment of the recipient.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="3" face="Symbol" style="font-size:12.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">They can stand public scrutiny without damaging the Company&#146;s reputation.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">These courtesies and gratuities include, but are not limited to gifts, meals, alcoholic drinks, discounts, hospitality, entertainment, recreation, promotional items, transportation and any tangible or intangible &#147;item of value&#148; for which the recipient does not pay fair market value.&#160; Keep in mind, if a gift feels excessive, then it probably is.&#160; Team Members may not resell these courtesies for profit at any time.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">6<font color="black" style="color:black;">. Fair Dealing with Competitors, Guests and Vendors</font></font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">Famous Dave&#146;s of America,&nbsp;Inc. respects the rights of competitors, guests and vendors.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">The Company&#146;s success depends on building productive relationships with guests, vendors and where appropriate, competitors.&#160; In addition, these individuals have needs and expectations, many representing unique opportunities for mutual success.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">The Company bases its supplier relationships on fundamental concepts of integrity, ethical dealings, nondiscrimination, and mutual trust and respect.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">The Company will not engage in activities with guests, vendors or competitors that unfairly prevent or limit competition, or could appear to do so.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:2.0pt 0in .0001pt;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">7<font color="black" style="color:black;">. Intellectual Property and Other Assets</font></font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">One of Famous Dave&#146;s of America,&nbsp;Inc.&#146;s most important assets is its confidential corporate information.&#160; Legal obligations and its competitive position mandate that this information remain confidential.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Confidential and proprietary information is critical to our competitive advantage.&#160; Team Members have an obligation to protect this information - it must not be shared with others outside the Company.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Confidential and proprietary information includes, but is not limited to, intellectual property such as trade secrets, patents, trademarks, copyrights, business, marketing and service plans, strategic marketing\growth plans, engineering and manufacturing ideas, food recipes\concepts, promotional ideas\concepts, designs, databases, records, wage\salary information and any unpublished financial data and reports. Unauthorized use or distribution of this information violates Company policy.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Every Team Member is required to protect the Company&#146;s confidential and proprietary information as well as that of its suppliers and third parties who disclose information to Famous Dave&#146;s of America in confidence.&#160; No Team Member may accept trade secrets or confidential information of a technical or business nature from a third party, unless the Team Member has received prior and specific authorization from his or her immediate supervisor to do so.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">8. Protection<font color="black" style="color:black;"> and Use of Company Property</font></font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">Our shareholders trust us to manage Company assets appropriately</font></b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">We must ensure that Company equipment, supplies and other assets are used for legitimate business purposes unless otherwise specifically authorized, and that we protect all tangible and intangible Company property.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">All Team Members should endeavor to protect the Company&#146;s assets and ensure their efficient use.&#160; Theft, carelessness and waste have a direct impact on the Company&#146;s profitability.&#160; Any suspected incident of fraud or theft should be immediately reported to a supervisor, any Human Resource Team Member or to the Ethics and HR Hotline for investigation.&#160; Company equipment should not be used for non-Company business, though incidental personal use may be permitted depending on the circumstances surrounding such use.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">9. Non-Solicitation</font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">Our shareholders trust us to safeguard our confidential and proprietary assets</font></b><font size="3" face="Arial" style="font-size:12.0pt;">.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">As part of our duty to safeguard the Company&#146;s confidential and proprietary information, along with its goodwill and customer relationships, Team Members may</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font face="Arial">9</font><a name="PB_9_074758_3853"></a></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">not, either during their employment with the Company or for twelve (12) months following the termination of that employment, directly or indirectly recruit, solicit or induce, or attempt to recruit, solicit or induce, any Team Member, consultant or vendor of the Company to terminate that person&#146;s employment or other relationship with the Company.&#160; This includes, without limitation, former Team Members seeking to use confidential and proprietary information to recruit, solicit, retain or hire any of the Company&#146;s Team Members, consultants or vendors.&#160; By signing the acknowledgement form for the FDA Code of Ethics and Business Conduct of Conduct, each Team Member is agreeing to the restrictions contained in this paragraph, is confirming that these restrictions are necessary to protect the Company&#146;s business and goodwill, and is agreeing that these restrictions are reasonable for that purpose.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">10. Environmental Compliance</font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">Famous Dave&#146;s will follow all environmental laws and regulations.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">Famous Dave&#146;s of America will conduct business at all times in compliance with appropriate environmental laws and regulations.&#160; It is Company policy to operate its facilities in a manner intended to protect the public and the environment.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">11. Team Member Personal Information</font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">Famous Dave&#146;s will protect your personal information.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">We will collect and retain personal information from Team Members that is required for the effective operation of the Company or that may be required by law.&#160; We will keep that information confidential and release it only to persons who have a legitimate need to know or are legally authorized to receive the information.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">12. Financial Records</font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="3" face="Arial" style="font-size:12.0pt;font-weight:bold;">Each Team Member must help maintain the integrity of Famous Dave&#146;s of America,&nbsp;Inc.&#146;s financial records.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">No Code of Conduct can effectively discuss the extensive accounting requirements the Company is required to fulfill.&#160; The Company&#146;s business records are vital to the preparation of reliable and accurate reports to management, shareholders, creditors, governmental entities and others.&#160; Thus, all official records of the conduct of the Company&#146;s business mus<font color="black" style="color:black;">t be accurate, reliable and complete, without any restriction or qualification of any kind.&#160; This means the accuracy of any records involves both factual documentation and ethical evaluation or appraisal.</font></font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">The Company requires reliable and accurate recording and reporting of information in order to make responsible business decisions.&#160; For example, only the true and actual number of hours a person works should be reported.&#160; Further, no Team Member who is classified as non-exempt should be working hours without receiving the required hourly</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font face="Arial">10</font><a name="PB_10_074908_7056"></a></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">wage (or what is known as &#147;off-the-clock&#148;).&#160; Finally, many Team Members use business expense accounts, which must be documented and recorded accurately.&#160; If you are not sure whether a practice or expense is legitimate, ask a supervisor or the Director of Finance and Accounting.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">All of the Company&#146;s books, records, accounts and financial statements must be maintained in reasonable detail, must appropriately reflect the Company&#146;s transactions and must conform both to applicable legal requirements and to the Company&#146;s system of internal controls.&#160; Unrecorded or &#147;off the books&#148; funds or assets should not be maintained unless permitted by applicable law or regulation.&#160; Business records and communications often become public, and we should avoid exaggeration, derogatory remarks, guesswork, or inappropriate characterizations of people and companies that can be misunderstood.&#160; This applies equally to e-mail, internal memos and formal reports. Records should always be retained or destroyed according to the Company&#146;s record retention policies.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">All Company operations must comply with all local and national laws relating to the accurate and complete maintenance of Company financial books and records.&#160; This includes accurate tip reporting, as the Company provides this information to the Internal Revenue Service.&#160; In particular, the Company is committed to full, fair, accurate, timely and understandable disclosure in all reports filed with the Securities and Exchange Commission (SEC) and in other public communications, and each Team Member is required to provide truthful, complete and timely information in support of this commitment.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Team Members are expected to be reliable, objective and loyal in the performance of record keeping responsibilities.&#160; This includes properly recording all sales transactions in all point of sales systems.&#160; Because loyalty includes never knowingly being a part of any illegal or unethical activity, there is no excuse for a deliberately false or misleading Company record.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">While only a few Team Members maintain actual accounting records, many people help keep the Company&#146;s records.&#160; Whether you conduct and report inventory levels, use business expense accounts, or pay vendors for services rendered, accurate documentation is critical.&#160; Team Members may not participate in any misstatement of the Company&#146;s accounts.&#160; At the same time, no circumstances justify the maintenance of &#147;off-the-books&#148; accounts to facilitate questionable or illegal payments. &#160;All transactions under which funds are disbursed shall accurately state the purposes for which these funds are paid and shall not be misleading.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">13. Securities<font color="black" style="color:black;"> Trading Policies</font></font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">Never trade securities on the basis of confidential information.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font face="Arial">11</font><a name="PB_11_075007_5335"></a></p>
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<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Team Members who have access to confidential information are not permitted to use or share that information for stock trading purposes or for any other purpose except the conduct of our business. All non-public information about the Company should be considered confidential information. To use non-public information for personal financial benefit or to tip others who might make an investment decision on the basis of this information is not only unethical, but also illegal.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">In order to assist us in complying with laws against insider trading, the Company has adopted a specific policy governing Team Members trading in securities of the Company.&#160; The Company and its Board of Directors have established &#147;black-out&#148; periods, or periods during which trading in the Company&#146;s stock by anyone covered by this policy is not permitted.&#160; In general, trading is not permitted during the period beginning two weeks prior to a quarter end and ending two days after an earnings release</font><font size="3" face="Arial" style="font-size:12.0pt;">, however the Company&#146;s CEO or CFO can close the trading window at any time due to the Company&#146;s access to material nonpublic information.&#160; Questions<font color="black" style="color:black;"> concerning appropriateness or legality of any particular securities transaction should be directed to the Company&#146;s CFO.&#160; Information regarding the Company&#146;s insider trading compliance policy can also be obtained from the Company&#146;s CFO.</font></font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Insider trading is a serious crime.&#160; The offense may occur when, for example, a person trades stock while in possession of material, non-public information about the company involved.&#160; Material information is any information that an investor would reasonably consider important in making investment decisions.&#160; Examples include knowledge of acquisitions or divestitures, new product launches or financial information.&#160; Information is &#147;non-public&#148; if it has not been released to and absorbed by the investing public.&#160; An individual convicted of insider trading may face criminal penalties.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">To ensure fairness and integrity in financial markets and to avoid insider-trading penalties, we do not trade in Famous Dave&#146;s of America securities or those of any company on the basis of material, non-public information.&#160; In addition, non-public information about Famous Dave&#146;s of America must not be communicated without a legitimate business reason and proper leadership authorization.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Insider trading law is complicated and its application may depend upon the circumstances of a particular situation.&#160; A Team Member who is unsure how the law applies in a given instance should ask before he or she trades.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="4" color="black" face="Arial" style="color:black;font-size:14.0pt;font-weight:bold;">14. Contact with Government Officials</font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">Famous Dave&#146;s of America,&nbsp;Inc. will comply with all applicable laws, rules&nbsp;and regulations relating to lobbying or attempting to influence government officials.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Information provided to the government must be accurate and interactions with government officials must be ethical and in good faith.&#160; All activities that might</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font face="Arial">12</font><a name="PB_12_075038_5796"></a></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">constitute lobbying or attempts to influence government officials must be reviewed first with the Company&#146;s legal counsel.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">If your job involves business with foreign, national, state or local government, you must know the rules&nbsp;applicable to your job. &#160;If you are in doubt, do not make the mistake of interpreting rules&nbsp;by yourself.&#160; Discuss the matter with your supervisor or other management of the Company.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">15. International<font color="black" style="color:black;"> Business</font></font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">Team Members of Famous Dave&#146;s of America,&nbsp;Inc. abide by special laws and regulations that apply to the import and export of products and technical data, as well as the conduct of business with non-U.S. entities.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">We also comply with anti-boycott and international embargo regulations in all locations where Famous Dave&#146;s of America,&nbsp;Inc. does business.&#160; The U.S. Foreign Corrupt Practices Act prohibits payments, gifts or contributions to officials of any foreign government or government -owned business for the purpose of getting or retaining business.&#160; In addition, the U.S. Foreign Corrupt Practices Act requires Famous Dave&#146;s of America,&nbsp;Inc. to maintain accurate and complete financial books and records.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">16. Public<font color="black" style="color:black;"> Disclosure of Code and Related Matters</font></font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">The existence and content of the FDA Code of Ethics and Business Conduct will be disclosed to shareholders and will be available on the Company&#146;s website.&#160; Any waiver of any of the provisions of the Code for executive officers or directors may be made only by the Board of Directors, and such waiver must be promptly disclosed to shareholders and the public as required by law.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">17.<font color="black" style="color:black;"> Coordination with Other Company Policies</font></font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">The provisions of the FDA Code of Ethics and Business Conduct are in addition to, and do not modify, replace or supersede, other Company policies or procedures including, but not limited to, those policies and procedures set forth in the Company&#146;s Handbook and the Company&#146;s other statements of policy or procedure, whether written or oral.&#160; The FDA Code of Ethics and Business Conduct is to be construed consistently with the Company&#146;s Handbook and the Company&#146;s other statements of policy or procedure, whether written or oral.&#160; If you have questions regarding anything you believe may be inconsistent with respect to these documents, please contact a supervisor or a Human Resources Team Member.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">Additionally, with the exception of Section&nbsp;9 above regarding Solicitation, the FDA Code of Ethics and Business Conduct is not intended to be and does not constitute a contract of employment between the Company and its Team Members.&#160; If you are a Team Member and do not have an Employment Agreement with the Company, you are employed on an at-will basis.&#160; This means that you have the option of resigning from</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font face="Arial">13</font><a name="PB_13_075112_2897"></a></p>
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<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">your employment at any time, for any reason or no reason, with or without prior notice. Conversely, the Company has the ability to terminate your employment at any time, for any reason or no reason, with or without prior notice.&#160; Nothing contained within the FDA Code of Ethics and Business Conduct alters this employment relationship.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:2.0pt 0in .0001pt;"><b><font size="4" color="black" face="Arial" style="color:black;font-size:14.0pt;font-weight:bold;">Conclusion</font></b></p>
<p style="margin:2.0pt 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">A central purpose of the FDA Code of Ethics and Business Conduct is to serve as an ongoing reminder of Famous Dave&#146;s of America,&nbsp;Inc.&#146;s policy of conducting its business in a reliable, decent and appropriate manner.&#160; This includes not only complying with all applicable laws, but also treating Famous Dave&#146;s of America,&nbsp;Inc.&#146;s guests, Team Members and vendors with dignity and respect.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">If you or your co-workers have an ethics question, talk to a supervisor, a trusted leader in the organization, or a Human Resources Team Member.&#160; If you feel your question was not adequately answered, or if you otherwise wish to make an anonymous report of a v</font><font size="3" face="Arial" style="font-size:12.0pt;">iolation or suspected violation of the FDA Code of Ethics and Business Conduct, contact the Famous Dave&#146;s of America Ethics and Business Conduct Hotline Service.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font face="Arial">14</font><a name="PB_14_075606_7056"></a></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" color="black" face="Arial" style="color:black;font-size:14.0pt;font-weight:bold;">CODE OF ETHICS AND BUSINESS CONDUCT</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="4" face="Arial" style="font-size:13.0pt;">&nbsp;</font></p>
<p align="center" style="margin:1.0pt 0in .0001pt;text-align:center;"><b><font size="4" color="black" face="Arial" style="color:black;font-size:14.0pt;font-weight:bold;">Certificate of Compliance</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">I certify that I have received, read and understand Famous Dave&#146;s of America,&nbsp;Inc.&#146;s Code of Ethics and Business Conduct.&#160; I understand what types of conduct violate these policies and are considered outside the scope of my employment.&#160; I promise to comply with the terms of the FDA Code of Ethics and Business Conduct and understand that violation of these terms may lead to disciplinary action up to and including immediate termination.&#160; Finally,&nbsp;I understand and agree to the specific restrictions set forth in Section&nbsp;9 regarding Solicitation.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.66%;">
<p style="margin:0in 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">Printed Name</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">Team Member Signature</font></b></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.34%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">Position or Title</font></b></p>    </td>
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<td width="65%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:65.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="29%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:29.16%;">
<p style="margin:0in 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.84%;">
<p style="margin:0in 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>
<td width="65%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:65.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">&nbsp;</font></b></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">Date</font></b></p>    </td>
<td width="65%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:65.0%;">
<p style="margin:0in 0in .0001pt;"><b><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-weight:bold;">Location</font></b></p>    </td>   </tr>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><i><font size="3" color="black" face="Arial" style="color:black;font-size:12.0pt;font-style:italic;">Please retain in Team Member&#146;s personnel file</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><i><font size="2" color="black" face="Arial" style="color:black;font-size:10.0pt;font-style:italic;">As a part of the Code of Ethics and Business Conduct policy, all Support Center Team Members and field Team Members Manager-level and above will be asked to review the FDA Code of Ethics and Business Conduct&#160; and sign the Certificate of Compliance indicating their understanding and compliance on an annual basis.</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><font face="Arial">15</font><a name="PB_15_075926_5335"></a></p>
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