Exhibit 10.1


 


SECOND
AMENDMENT TO THE


EMPLOYMENT AGREEMENT


 


This SECOND
AMENDMENT, dated October 1, 2020 (the “Second Amendment”) amends the Employment Agreement, dated as of
January 6, 2020 (as amended, the “Agreement”) by and between Sequential Brands Group, Inc. (the “Company”)
and David Conn. (“Executive” and, collectively with the Company, the “Parties”).


 


For good
and valuable consideration, the sufficiency of which the Parties do hereby acknowledge, the Parties, by executing this Amendment,
agree as follows:


 


		1.	Definitions.
                                         Capitalized terms used in this Amendment and not otherwise defined herein shall have
                                         the meaning provided in the Agreement.



 


		2.	Amendments.



 


		(a)	The
                                         Parties acknowledge and agree that the Reduction Period (as defined in the First Amendment
                                         dated as of May 29, 2020 (the “First Amendment”) shall continue
                                         through September 30, 2020, and that, effective as of October 1, 2020, the
                                         Executive’s Base Salary shall return to $600,000 per year. Accordingly, the Executive
                                         acknowledges and agrees that the Difference (as defined in the First Amendment) is equal
                                         to $60,000.



 


		3.	Miscellaneous.



 


		(a)	Each
                                         Party hereby represents and warrants to the other Party that: (i) such Party has
                                         the full power and authority to enter into this Second Amendment and to fulfill its obligations
                                         hereunder and (ii) when this Second Amendment is executed and delivered by such
                                         Party, this Second Amendment will constitute the legal, valid and binding obligation
                                         of such Party, enforceable against such Party in accordance with its terms.



 


		(b)	This
                                         Second Amendment may be executed in counterparts, each of which shall be deemed an original
                                         but all of which together shall constitute one and the same instrument. The counterparts
                                         of this Second Amendment may be executed and delivered by facsimile or PDF e-mail signature
                                         by any of the Parties to any other Party and the receiving Party may rely on the receipt
                                         of such document so executed and delivered by facsimile or PDF e-mail as if the original
                                         had been received.



 


		(c)	Except
                                         as specifically amended and/or modified by this Second Amendment, the Agreement is hereby
                                         ratified and confirmed and all other terms of the Agreement shall remain in full force
                                         and effect, unaltered and unchanged by this Amendment.



 


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IN
WITNESS WHEREOF, the Parties have duly executed this Amendment as of the date first written
above.


 


	 	SEQUENTIAL BRANDS GROUP, INC.
	 	 
	 	By:	/s/
    Daniel Hanbridge 







	 	Name: Daniel Hanbridge
	 	Title: Interim CFO




 


	 	EXECUTIVE
	 	 
	 	By:	/s/ David Conn






	 	David Conn




 


[Signature
page to the Second Amendment]