Preview | Employment Agreement |

THIS EMPLOYMENT AGREEMENT (this Agreement) is entered into as of , (the Effective Date) by and between Gander Mountain Company, a Minnesota corporation (the Company), and , a resident of Minnesota (Executive).

A. The Company engages in the business of the retail sale and distribution of hunting, fishing, camping and other outdoor recreational and athletic goods, clothing, equipment, and supplies.

C. [The Company and Executive entered into an Employment Agreement, dated (the Prior Agreement), which the Company and Executive desire to cancel and replace with this Agreement.] [OR THE FOLLOWING] [The Executive received an offer letter from the Company, dated ] (the Prior Agreement), which the Company and Executive desire to cancel and replace with this Agreement.]

D. The Company desires to employ Executive, and Executive wishes to be employed, as of the Company, on the terms and conditions set forth in this Agreement.

NOW, THEREFORE, in consideration of the foregoing premises and the respective agreements of the Company and Executive set forth below, the Company and Executive, intending to be legally bound, agree as follows:

1. Employment. Subject to all the terms and conditions of this Agreement, Executives period of employment under this Agreement shall be the period commencing on the Effective Date and ending on the second anniversary of the Effective Date (the Initial Term), unless the Executives employment terminates earlier in accordance with Section 8 hereof. Thereafter, unless earlier terminated in accordance with Section 8 hereof, the term ofExecutives employment with the Company shall be automatically extended for successive one-year periods following the expiration of the Initial Term (each, a Renewal Term and, together with the Initial Term, the Term), unless either party gives written notice to the other party at least 90 days prior to the expiration of the Initial Term or any Renewal Term that such party elects not to extend the term of Executives employment.

2. Position and Duties; No Violations.

(a) Employment with the Company. While Executive is employed by the Company during the Term, Executive shall be employed as of the Company, or with such other title as the Company may designate, and shall perform such duties and responsibilities as the Company shall assign to Executive from time to time.

(b) Performance of Duties and Responsibilities. Executive shall serve the Company faithfully and to the best of Executives ability and shall devote Executives full working time, attention and efforts to the business of the Company during Executives employment with the Company hereunder. Executive shall report to the Companys Chief Executive Officer or to such other person as designated by the Company. Executive hereby represents and confirms that Executive is under no contractual or legal commitments that would prevent Executive from fulfilling Executives duties and responsibilities as set forth in this Agreement. During Executives employment with the Company, Executive shall not accept other employment or engage in other material business activity, except as approved in writing by the Board of Directors of the Company (the Board). Executive may participate in charitable activities and personal investment activities to a reasonable extent so long as such activities do not interfere with the performance of Executives duties and responsibilities hereunder. Executive may serve as a director of business organizations only as approved by the Board.

(c) No Violation of Other Agreements. Executive hereby represents and agrees that neither (i) Executives entering into this Agreement, (ii) Executives employment with the Company, nor (iii) Executives carrying out the provisions of this Agreement, will violate any other agreement (oral, written or other) to which Executive is a party or by which Executive is bound.

3. Compensation.

(a) Base Salary. While Executive is employed by the Company during the Term, the Company shall pay to Executive a base salary at the rate of Dollars ($ ) per year, less deductions and withholdings, which base salary shall be paid in accordance with the Companys normal payroll policies and procedures. On or before April 1 of each year during the Term, commencing in fiscal year 2006, the Compensation Committee of the Board (the Compensation Committee) shall review Executives performance and may increase (but not reduce) Executives base salary in its sole discretion; provided, however, that the Compensation Committee may reduce Executives base salary by no more than 10% in any twelve-month period if such reduction is part of a general reduction in the base salaries of all executives of the Company and; provided further, that no such reduction shall reduce Executives base salary below the initial base salary set forth in the first sentence of this Section 3(a).

(b) Annual Incentive Bonus. Commencing with fiscal year 2006 and for each full fiscal year thereafter that Executive is employed by the Company during the Term, Executive shall be eligible for an annual cash incentive bonus in an amount up to 100% of the annual base salary paid to Executive for such fiscal year, based upon achievement of defined

goals mutually agreed upon by Executive and the Compensation Committee and in accordance with the terms of any incentive plan of the Company in effect from time to time (the Annual Incentive Bonus). The level of achievement of the objectives each year and the amount payable as Annual Incentive Bonus shall be determined in good faith by the Compensation Committee. Any Annual Incentive Bonus earned in a fiscal year shall be paid to Executive on or before the sixtieth (60^th) day following the last day of such fiscal year.

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