----

|   | FORM 10-K/A(Amendment No. 1) |   |
|--------|------------------------------|--------|
| ⌧ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---------|--------------------------------------------------------------------------------------|
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---------|------------------------------------------------------------------------------------------|

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| Delaware                                                       |   | 56-1581761                           |
|----------------------------------------------------------------|--------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization) |   | (I.R.S. Employer identification no.) |
|                                                           |   |                                 |
|  767 5th Avenue, 12th Floor                               |   |                                 |
| New York, NY                                                   |   | 10153                                |
| (Address of principal executive offices)                       |   | (Zip Code)                           |
| Title of Each Class                         |   | Trading Symbol |   | Name of Each Exchange on Which Registered |
|---------------------------------------------|--------|----------------|--------|-------------------------------------------|
| Class A Common Stock, $0.01 par  value |   | SDI            |   | NYSE American                             |

----

----

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|   | Large accelerated filer ☐             | Accelerated filer ☐         |
|--------|---------------------------------------------|-----------------------------------|
|   | Non-accelerated filer ⌧               | Smaller reporting company ⌧ |
|   | Emerging growth company ☐   |                              |

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| PART III |     |
|----------|----------|
|     |     |   |   |
|     | Item 10. | Directors, Executive Officers and Corporate Governance | 1 |
|     | Item 11. | Executive Compensation | 7 |
|     | Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 10 |
|     | Item 13. | Certain Relationships and Related Transactions, and Director Independence | 11 |
|     | Item 14. | Principal Accounting Fees and Services | 12 |
|     |     |   |   |
| PART IV  |     |
|     |     |
|     | Item 15. | Exhibits and Financial Statement Schedules | 13 |

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 Table of Contents

| PART III |
|----------|
| ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE |
|-----------------------------------------------------------------|

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 Table of Contents

| Name                | Age    | Position                                               |
|---------------------|--------|--------------------------------------------------------|
|                |   |                                                   |
| Gregory H.A. Baxter | 66     | Executive Chairman and Interim Chief Executive Officer |
|                |   |                                                   |
| Edward J. Sweeney   | 50     | Interim Chief Financial Officer                        |
|                |   |                                                   |
| Bradford A. Tobin   | 37     | General Counsel and Secretary                          |

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 Table of Contents

|                 |   | Committee |      |
|----------------------|--------|-----------|-----------|
| Board Member         |   | Audit     |      |   | Compensation |   |   | Nominating & CorporateGovernance |   |
| Gregory H.A. Baxter  |   |      |      |   |   |   |   |   |   |
| Ian Estus            |   |      |      |   |   |   |   |   |   |
| David Glazek         |   |      |      |   |   |   X* |  |   |   | X |  |
| Thomas F. Helms, Jr. |   |      | X         |  |   |   | X |  |   |   |   X* |  |
| David M. Wurzer      |   |      |   X* |  |   |   | X |  |   |   | X |  |
| Arnold Zimmerman     |   |      | X         |  |   |   |   |   |   |   |   |   |

| * | Chairperson |
|---|-------------|

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 Table of Contents

|  | • | Selects the Company’s independent auditors. |
|--|---------|---------------------------------------------------|
|  | • | Reviews the results and scope of the annual audit and the services provided by the Company’s independent auditors. |
|--|---------|-------------------------------------------------------------------------------------------------------------------------------|
|  | • | Reviews the recommendations of the Company’s independent auditors with respect to the accounting system and controls. |
|--|---------|-----------------------------------------------------------------------------------------------------------------------------|
|  | • | Review and approve related parties’ transactions. |
|--|---------|---------------------------------------------------------|
|  | • | Met four (4) times during our fiscal year ended December 31, 2019. |
|--|---------|--------------------------------------------------------------------|
|  | • | Reviews and approves salaries for all corporate officers. |
|--|---------|-----------------------------------------------------------|
|  | • | Reviews and approves all incentive and special compensation plans and programs. |
|--|---------|---------------------------------------------------------------------------------|
|  | • | Reviews and approves management succession planning. |
|--|---------|------------------------------------------------------|
|  | • | Conducts special competitive studies. |
|--|---------|---------------------------------------|
|  | • | Retains compensation consultants as necessary and appropriate. |
|--|---------|----------------------------------------------------------------|
|  | • | Reviews and recommends to the Board compensation for non-employee directors. |
|--|---------|------------------------------------------------------------------------------|
|  | • | Identifies individuals eligible to become members of the Board of Directors. |
|--|---------|------------------------------------------------------------------------------|
|  | • | Select and recommend to the Board the director nominees for the Board for the next annual meeting of shareholders. |
|--|---------|--------------------------------------------------------------------------------------------------------------------|
|  | • | Oversee the evaluation of the Board. |
|--|---------|--------------------------------------|

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 Table of Contents

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 Table of Contents

| ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE (CONTINUED) |
|-----------------------------------------------------------------------------|

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 Table of Contents

| ITEM 11.  EXECUTIVE COMPENSATION |
|---------------------------------------|
| Name andPrincipal Position   |   | Year   |   | Salary |    |   | Bonus  |   |   | StockAwards(1) |   |   | All OtherCompensation |   |   | Total  |   |
|------------------------------|--------|--------|--------|--------|---------|--------|--------|--------|--------|----------------|--------|--------|-----------------------|--------|--------|--------|--------|
|                         |   |   |   |   |    |   |   |   |   |           |   |   |                  |   |   |   |   |
| Gregory H.A. Baxter          |   | 2019   |   | $      | 51,713  |   |   |   | --     |           |   |   | --                    |   |   |   | --     |   |   | $ | 51,713 |   |
| Executive Chairman and       |   | 2018   |   | $      | 96,405  |   |   |   | --     |           |   |   | --                    |   |   |   | --     |   |   | $ | 96,405 |   |
| Interim CEO                  |   |   |   |   |    |   |   |   |   |           |   |   |                  |   |   |   |   |   |   |   |   |   |
|                         |   |   |   |   |    |   |   |   |   |           |   |   |                  |   |   |   |   |   |   |   |   |   |
| Edward J. Sweeney            |   | 2019   |   |   | --      |   |   |   | --     |           |   |   | --                    |   |   |   | --     |   |   |   | -- |   |
| Interim CFO and Treasurer(2) |   | 2018   |   |   | --      |   |   |   | --     |           |   |   | --                    |   |   |   | --     |   |   |   | -- |   |
|                         |   |   |   |   |    |   |   |   |   |           |   |   |                  |   |   |   |   |   |   |   |   |   |
| Bradford A. Tobin            |   | 2019   |   | $      | 177,083 |   |   |   | --     |           |   |   | --                    |   |   |   | --     |   |   | $ | 177,083 |   |
| General Counsel and          |   | 2018   |   | $      | 200,000 |   |   |   | --     |           |   | $      | 348,306               |   |   |   | --     |   |   | $ | 548,306 |   |
| Secretary                    |   |   |   |   |    |   |   |   |   |           |   |   |                  |   |   |   |   |   |   |   |   |   |

----

|   | (1) | Represents the grant date fair value of restricted share awards calculated in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718.  See Note 20 to the Company’s                  consolidated financial statements included in the Company's Annual Report for the year ended December 31, 2019 for additional information regarding restricted shares. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Mr. Sweeney was appointed as Interim Chief Financial Officer subject to an agreement between the Company and CFGI (successor to Pine Hill Group). CFGI is compensated at fixed hourly rates on actual hours                  incurred by CFGI personnel plus reasonable expenses for performing services pursuant to the agreement. CFGI is responsible for all payments to Mr. Sweeney. As a result, Mr. Sweeney does not receive direct compensation from the Company and                  the amount of aggregate payments made to CFGI are based on the amount of work performed on our behalf. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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 Table of Contents

| Name                  |   | Number ofShares orUnits ofStockThat Have                Not Vested |   |   | Market Value ofShares orUnits ofStockThat Have                Not Vested(1) |   |
|-----------------------|--------|--------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------------|--------|
|                  |   |                                                               |   |   |                                                                        |   |
| Gregory H. A. Baxter. |   |                                                               | 9,454  |   |                                                                        | $      | 138,501 |   |
|                  |   |                                                               |   |   |                                                                        |   |   |   |
| Edward J. Sweeney     |   |                                                               | --     |   |                                                                        |   | -- |   |
|                  |   |                                                               |   |   |                                                                        |   |   |   |
| Bradford A. Tobin.    |   |                                                               | 10,851 |   |                                                                        | $      | 158,967 |   |

----

|   | (1) | Calculated by multiplying the number of shares in the preceding column by $14.65, the closing price per share of the Company’s Class A Common Stock on December 31, 2019, the last trading day of our last fiscal                  year. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | • | Each non-employee Board member receives an annual base retainer in cash of $32,500, payable quarterly.  |
|--|---------|--------------------------------------------------------------------------------------------------------------|
|  | • | Directors do not receive payments for meeting attendance. |
|--|---------|-----------------------------------------------------------|
|  | • | Non-employee members of the Board receive the following additional annual retainers, payable in cash, for service to the Board in the following capacities: |
|--|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Audit Committee Chair                                                   |   | $ | 10,000 |   |
|-------------------------------------------------------------------------|--------|---|--------|--------|
| Compensation and Nominating & Corporate Governance Committee Chairs |   | $ | 5,000  |   |
| Committee Membership (non-Chair)                                        |   | $ | 3,000  |   |
|  | • | In addition, each non-employee member of the Board shall receive an annual grant of restricted shares of our Class A Common Stock valued at $32,500, which shares shall be valued for the purposes of the grant at the closing price of the                Common Stock on the date of each grant. |
|--|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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 Table of Contents

| Name andPrincipal Position |   | FeesEarnedOr PaidIn Cash |   |   | ShareAwards(1) |   |   | All OtherCompensation |   |   | Total |   |
|----------------------------|--------|--------------------------|--------|--------|----------------|--------|--------|-----------------------|--------|--------|-------|--------|
| David Glazek(2)            |   |                     | --     |   |           |   | --     |                  |   |   | --    |   |   |   | -- |   |
| Thomas F. Helms, Jr.       |   | $                        | 10,875 |   |           | $      | 32,498 |                  |   |   | -     |   |   | $ | 43,373 |   |
| David M. Wurzer            |   | $                        | 12,125 |   |           | $      | 32,498 |                  |   |   | -     |   |   | $ | 44,623 |   |
| Arnold Zimmerman           |   | $                        | 8,875  |   |           | $      | 32,498 |                  |   |   | -     |   |   | $ | 41,373 |   |

|   | (1) | Mr. Wurzer, Mr. Helms and Mr. Zimmerman were each granted 2,249 shares of restricted stock on August 17, 2019. These shares vest on the first anniversary of the grant. These amounts are based upon the grant                  date fair value of the share awards calculated in accordance with ASC Topic 718. The assumptions used in determining the amounts in the column are set forth in Note 20 to our consolidated financial statements in our Annual Report on Form                  10-K for the fiscal year ended December 31, 2019 filed with the Commission.  As of December 31, 2019, Mr. Wurzer owned options to purchase 1,400 shares of Class A Common Stock. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Mr. Glazek has waived the right to receive compensation for service as a director. |
|--------|-----|------------------------------------------------------------------------------------|

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 Table of Contents

| ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS |
|---------------------------------------------------------------------------------------------------------|
| Name and Address of Beneficial Owner              |   | Amount and Nature of Beneficial Ownership of Class                 A Common Stock(1) |      |   | Amount and Nature of Beneficial Ownership of Class B Common Stock(1) |   |      | Total Beneficial Ownership |   |   | Percent of Class A |   |   | Percent ofClass B |   |
|---------------------------------------------------|--------|--------------------------------------------------------------------------------------|-----------|--------|----------------------------------------------------------------------|--------|-----------|----------------------------|--------|--------|--------------------|--------|--------|-------------------|--------|
| Gregory H.A. Baxter                               |   |                                                                                 | 28,825    |   |                                                                 |   | -         |                       |   |   | *                  |   |   |              | *      |   |   |   | * |   |
| Ian Estus                                         |   |                                                                                 | 81,277    |   |                                                                 |   | -         |                       |   |   | *                  |   |   |              | *      |   |   |   | * |   |
| Edward J. Sweeney                                 |   |                                                                                 | -         |   |                                                                 |   | -         |                       |   |   | *                  |   |   |              | *      |   |   |   | * |   |
| Bradford A. Tobin                                 |   |                                                                                 | 34,913    |   |                                                                 |   | -         |                       |   |   | *                  |   |   |              | *      |   |   |   | * |   |
| David M. Wurzer                                   |   |                                                                                 | 7,974     |   |                                                                 |   | 3,050     |                       |   |   | *                  |   |   |              | *      |   |   |   | * |   |
| Thomas F. Helms, Jr.                              |   |                                                                                 | 116,341   |   |                                                                 |   | 272,624   |                       |   |   | 2.3                | %      |   |              | 1.3    | % |   |   | 3.5 | % |
| David Glazek                                      |   |                                                                                 | -         |   |                                                                 |   | -         |                       |   |   | *                  |   |   |              | *      |   |   |   | * |   |
| Arnold Zimmerman                                  |   |                                                                                 | 2,097     |   |                                                                 |   | -         |                       |   |   | *                  |   |   |              | *      |   |   |   | * |   |
| All officers and directors as a group (8 persons) |   |                                                                                 | 271,427   |   |                                                                 |   | 275,674   |                       |   |   | 3.3                | %      |   |              | 3.0    | % |   |   | 3.6 | % |
| Standard General L.P.                             |   |                                                                                 | 6,237,143 |   |                                                                 |   | 7,360,075 |                       |   |   | 81.7               | %      |   |              | 69.7   | % |   |   | 95.0 | % |

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|   | (1) | Unless otherwise indicated, each of the stockholders has sole voting and investment power with respect to the securities shown to be owned by such stockholder. The inclusion herein of securities listed as                  beneficially owned does not constitute an admission of beneficial ownership. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Soohyung Kim is the Chief Executive Officer of Standard General L.P. and a director of the general partner of Standard General L.P.  Standard General’s address is 767 Fifth Avenue, 12th Floor, New York, NY                  10153. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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 Table of Contents

| ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE |
|------------------------------------------------------------------------------------|

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 Table of Contents

| ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES |
|-------------------------------------------------|
|                     |   | 2019   |    |   | 2018   |   |
|--------------------------|--------|--------|---------|--------|--------|--------|
| Audit Fees               |   |   |    |   |   |   |
| SDI                      |   | $      | 221,000 |   |   | $      | 233,000 |   |
| Maidstone                |   |   | 70,000  |   |   |   | 89,650 |   |
| Turning Point            |   |   | 528,000 |   |   |   | 559,000 |   |
| Total audit fees         |   |   | 819,000 |   |   |   | 881,650 |   |
|                     |   |   |    |   |   |   |   |   |
| Audit-Related Fees       |   |   |    |   |   |   |   |   |
| SDI                      |   |   | -       |   |   |   | 38,000 |   |
| Maidstone                |   |   | -       |   |   |   | - |   |
| Turning Point            |   |   | -       |   |   |   | - |   |
| Total audit-related fees |   | $      | -       |   |   | $      | 38,000 |   |
|                     |   |   |    |   |   |   |   |   |
| Tax Fees                 |   |   | -       |   |   |   | - |   |
| All Other Fees           |   |   | -       |   |   |   | - |   |
|                     |   | $      | 819,000 |   |   | $      | 919,650 |   |

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 Table of Contents

| PART IV |
|---------|
| ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES |
|-----------------------------------------------------|
| Exhibit Number | Description                                                                                                                                                                                                                                                 | Reference |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------|
| 2.1            | Contribution                  and Exchange Agreement, dated as of November 25, 2016, by and among Special Diversified Opportunities Inc., Standard General Master Fund L.P., P Standard General Ltd. and Standard General Focus Fund L.P.                   | (1)       |
|           |                                                                                                                                                                                                                                                        |      |
| 2.2            | First Amendment to Contribution and Exchange Agreement, dated as of January 25, 2017, by and among Special Diversified Opportunities Inc.,                  Standard General Master Fund L.P., P Standard General Ltd. and Standard General Focus Fund L.P. | (2)       |
|           |                                                                                                                                                                                                                                                        |      |
| 2.3            | Second Amendment to Contribution and Exchange Agreement, dated as of April 5, 2017, by and among Special Diversified Opportunities Inc.,                  Standard General Master Fund L.P., P Standard General Ltd. and Standard General Focus Fund L.P.   | (3)       |
|           |                                                                                                                                                                                                                                                        |      |
| 2.4            | Third Amendment to Contribution and Exchange Agreement, dated as of May 3, 2017, by and among Special Diversified Opportunities Inc., Standard                  General Master Fund L.P., P Standard General Ltd. and Standard General Focus Fund L.P.      | (4)       |
|           |                                                                                                                                                                                                                                                        |      |
| 2.5            | Stock Purchase Agreement, dated as of November 23, 2016, between Special Diversified Opportunities Inc. and Interboro LLC                                                                                                                                   | (5)       |
|           |                                                                                                                                                                                                                                                        |      |
| 2.6            | Asset Purchase Agreement, dated as of November 4, 2016, between Standard Outdoor Southwest LLC and Metro Outdoor of Austin LLC                                                                                                                              | (2)       |
|           |                                                                                                                                                                                                                                                        |      |
| 2.7            | Stock Purchase Agreement dated as of November 17, 2016, by and among National Tobacco Company, L.P., the Sellers named therein and Smoke Free                  Technologies, Inc.                                                                           | (6)       |
|           |                                                                                                                                                                                                                                                        |      |
| 2.8#           | International Vapor Group Stock Purchase Agreement dated as of September 5, 2018, between Turning Point Brands, Inc. and International VaporGroup, LLC.                                                                                                     | (6)       |
|           |                                                                                                                                                                                                                                                        |      |
| 3.1            | Sixth  Amended and Restated Certificate of Incorporation of the Company                                                                                                                                                                                | (7)       |
|           |                                                                                                                                                                                                                                                        |      |
| 3.2            | Third Amended and Restated Bylaws of the Company                                                                                                                                                                                                            | (8)       |
|           |                                                                                                                                                                                                                                                        |      |
| 4.1            | Registration Rights Agreement, dated as of June 1, 2017, among the Registrant, Standard General Master Fund L.P., P Standard General Ltd. and                  Standard General Focus Fund L.P.                                                             | (9)       |
|           |                                                                                                                                                                                                                                                        |      |
| 4.2            | Registration                  Rights Agreement, dated as of May 10, 2016, by and among Turning Point Brands, Inc. and the stockholders named therein.                                                                                                  | (6)       |
|           |                                                                                                                                                                                                                                                        |      |
| 4.3            | Indenture, dated as of July 30, 2019, between Turning Point Brands, Inc. and GLAS Trust Company LLC, as trustee (including the                  Form of Note as Exhibit A thereto)                                                                          | (10)      |
|           |                                                                                                                                                                                                                                                        |      |
| 4.4            | Description of Class                  A common stock of the Company (previously filed)                                                                                                                                                                      |      |

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 Table of Contents

| 10.1   | 2017                  Omnibus Equity Compensation Plan of the Company*                                                                                                                                                                                      | (11)   |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   |                                                                                                                                                                                                                                                        |   |
| 10.2   | 1998 Employee Stock                  Purchase Plan*                                                                                                                                                                                                         | (12)   |
|   |                                                                                                                                                                                                                                                        |   |
| 10.3   | Contract                  Manufacturing, Packaging and Distribution Agreement dated as of September 4, 2008, between National Tobacco Company, L.P. and Swedish Match North America, Inc.                                                              | (6)    |
|   |                                                                                                                                                                                                                                                        |   |
| 10.4   | Amended and Restated Distribution and License Agreement dated as of November 30, 1992, between Bolloré Technologies, S.A. and North Atlantic Trading                  Company, Inc., as predecessor to North Atlantic Operating Company, Inc. (U.S.)   | (6)    |
|   |                                                                                                                                                                                                                                                        |   |
| 10.5   | Amended and Restated Distribution and License Agreement dated as of November 30, 1992, between Bolloré Technologies, S.A. and North Atlantic Trading                  Company, Inc., as predecessor to North Atlantic Operating Company, Inc. (Canada) | (6)    |
|   |                                                                                                                                                                                                                                                        |   |
| 10.6   | Amendment to the Amended and Restated Distribution and License Agreement dated March 31, 1993 between Bolloré Technologies, S.A. and North                  Atlantic Trading Company, Inc.                                                             | (6)    |
|   |                                                                                                                                                                                                                                                        |   |
| 10.7   | Amendment to the Amended and Restated Distribution and License Agreements dated June 10, 1996, between Bolloré Technologies, S.A. and North                  Atlantic Trading Company, Inc. (U.S. & Canada)                                        | (6)    |
|   |                                                                                                                                                                                                                                                        |   |
| 10.8   | Amendment to the Amended and Restated Distribution and License Agreement dated September 1996, between Bolloré Technologies, S.A. and North                  Atlantic Trading Company, Inc. (U.S. & Canada)                                        | (6)    |
|   |                                                                                                                                                                                                                                                        |   |
| 10.9   | Restated Amendment to the Amended and Restated Distribution and License Agreement between Bolloré Technologies, S.A. and North Atlantic Operating Company,                  Inc. dated June 25, 1997 (U.S. & Canada)                               | (6)    |
|   |                                                                                                                                                                                                                                                        |   |
| 10.10  | Amendment to the Amended and Restated Distribution and License Agreement dated October 22, 1997, between Bolloré Technologies, S.A. and North Atlantic                  Operating Company, Inc. (U.S. & Canada)                                    | (6)    |
|   |                                                                                                                                                                                                                                                        |   |
| 10.11  | Amendment to the Amended and Restated Distribution and License Agreement dated June 19, 2002, between Bolloré S.A. and North Atlantic                  Operating Company, Inc. (U.S. & Canada)                                                     | (6)    |
|   |                                                                                                                                                                                                                                                        |   |
| 10.12  | Trademark Consent Agreement, dated March 26, 1997, between Bolloré Technologies, S.A. and North Atlantic Trading Company, Inc.                                                                                                                         | (6)    |
|   |                                                                                                                                                                                                                                                        |   |
| 10.13  | Amendment to the Amended and Restated Distribution and License Agreement dated February 28, 2005, between Bolloré S.A. and North Atlantic                  Operating Company, Inc. (U.S. & Canada)                                                 | (6)    |
|   |                                                                                                                                                                                                                                                        |   |
| 10.14  | Amendment to the Amended and Restated Distribution and License Agreement dated April 20, 2006, between Bolloré S.A. and North Atlantic Operating                  Company, Inc. (U.S. & Canada)                                                    | (6)    |
|   |                                                                                                                                                                                                                                                        |   |
| 10.15  | Amendment to the Amended and Restated Distribution and License Agreement dated March 10, 2010, between Bolloré S.A. and North Atlantic                  Operating Company, Inc. (U.S. & Canada)                                                    | (6)    |
|   |                                                                                                                                                                                                                                                        |   |
| 10.16  | Consent Agreement dated as of April 4, 1997, between Bolloré Technologies, S.A. and North Atlantic Trading Company, Inc.                                                                                                                               | (6)    |

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 Table of Contents

| 10.17  | Amendment No. 1 to Consent Agreement dated as of April 9, 1997, between Bolloré Technologies, S.A. and North Atlantic Operating Company,                  Inc.                                                                                                     | (6)    |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   |                                                                                                                                                                                                                                                                    |   |
| 10.18  | Amendment No. 2 to Consent Agreement dated as of June 25, 1997, between Bolloré Technologies, S.A. and North Atlantic Operating Company,                  Inc.                                                                                                     | (6)    |
|   |                                                                                                                                                                                                                                                                    |   |
| 10.19  | Trademark Consent Agreement dated July 31, 2003, among Bolloré Technologies, S.A., North Atlantic Trading Company, Inc. and North Atlantic                  Operating Company, Inc.                                                                                | (6)    |
|   |                                                                                                                                                                                                                                                                    |   |
| 10.20  | Amendment No. 2 to Trademark Consent Agreement dated December 17, 2012, between Bolloré S.A. and North Atlantic Operating Company, Inc.                                                                                                                            | (6)    |
|   |                                                                                                                                                                                                                                                                    |   |
| 10.21  | License and Distribution Agreement dated March 19, 2013 between Bolloré S.A. and North Atlantic Operating Company, Inc.                                                                                                                                            | (6)    |
|   |                                                                                                                                                                                                                                                                    |   |
| 10.22  | Distributors Supply Agreement dated as of April 1, 2013, between National Tobacco Company, L.P. and JJA Distributors, LLC                                                                                                                                               | (6)    |
|   |                                                                                                                                                                                                                                                                    |   |
| 10.23  | Amendment No. 1 to the Amended and Restated Exchange and Stockholders’ Agreement dated April 28, 2016                                                                                                                                                             | (6)    |
|   |                                                                                                                                                                                                                                                                    |   |
| 10.24  | First Lien Credit Agreement dated as of February 17, 2017, by and among Turning Point Brands, Inc., Fifth Third Bank, and the lenders party thereto                                                                                                                     | (6)    |
|   |                                                                                                                                                                                                                                                                    |   |
| 10.25  | Second Lien Credit Agreement dated as of February 17, 2017, by and among Turning Point Brands, Inc., as the Borrower, Prospect Capital Corporation, as                  administrative agent, and the lenders party thereto                                             | (6)    |
|   |                                                                                                                                                                                                                                                                    |   |
| 10.26  | First Lien Guaranty and Security Agreement dated as of February 17, 2017, by and among Turning Point Brands, Inc., Fifth Third Bank, and the lenders                  party thereto                                                                                     | (6)    |
|   |                                                                                                                                                                                                                                                                    |   |
| 10.27  | Second Lien Guaranty and Security Agreement dated as of February 17, 2017, by and among Turning Point Brands, Inc., Prospect Capital Corporation, and                  the lenders party thereto                                                                        | (6)    |
|   |                                                                                                                                                                                                                                                                    |   |
| 10.28  | Intercreditor Agreement dated as of February 17, 2017, by and among Turning Point Brands, Inc., the other grantors party thereto, Fifth Third Bank, as                  first lien collateral agent, and Prospect Capital Corporation, as second lien collateral agent  | (6)    |
|   |                                                                                                                                                                                                                                                                    |   |
| 10.29  | Amended and Restated First Lien Credit Agreement, dated as of March 7, 2018, by and among Turning Point Brands, Inc. and its subsidiaries, as the                  obligors, Fifth Third Bank, as administrative agent, and the lenders party thereto                   | (6)    |
|   |                                                                                                                                                                                                                                                                    |   |
| 10.30  | Amended and Restated Second Lien Credit Agreement, dated as of March 7, 2018, by and among Turning Point Brands, Inc. and its subsidiaries, as                  obligors, Prospect Capital Corporation, as administrative agent, and the lenders party thereto          | (6)    |
|   |                                                                                                                                                                                                                                                                    |   |
| 10.31  | Omnibus Amendment, Reaffirmation Agreement and Joinder, dated as of March 7, 2018, by and among Turning Point Brands, Inc. and its subsidiaries, as                  the Grantors, Fifth Third Bank, as administrative agent, and the lenders party thereto             | (6)    |
|   |                                                                                                                                                                                                                                                                    |   |
| 10.32  | Second Lien Omnibus Amendment, Reaffirmation Agreement and Joinder, dated as of March 7, 2018, by and among Turning Point Brands, Inc. and its                  subsidiaries, as the Grantors, Fifth Third Bank, as administrative agent, and the lenders party thereto | (6)    |

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 Table of Contents

| 10.33  | First Amendment to Second Lien Intercreditor Agreement, dated as of March 7, 2018, by and among Turning Point Brands, Inc., and the other grantors                  party thereto, Fifth Third Bank, as first lien collateral agent, and Prospect Capital Corporation, as second lien collateral agent                                                                     | (6)    |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   |                                                                                                                                                                                                                                                                                                                                                                       |   |
| 10.34  | Form of Installment Note issued to VaporBeast Stockholders on November 30, 2016                                                                                                                                                                                                                                                                                            | (6)    |
|   |                                                                                                                                                                                                                                                                                                                                                                       |   |
| 10.35  | Form of 18-Month Note issued to VaporBeast Stockholders on November 30, 2016                                                                                                                                                                                                                                                                                               | (6)    |
|   |                                                                                                                                                                                                                                                                                                                                                                       |   |
| 10.36  | Form of Guaranty to VaporBeast Shareholders dated November 17, 2016                                                                                                                                                                                                                                                                                                        | (6)    |
|   |                                                                                                                                                                                                                                                                                                                                                                       |   |
| 10.37  | Capital on DemandTM Sales Agreement, dated August 10, 2018, by and between Standard Diversified Inc. and JonesTrading Institutional Services LLC                                                                                                                                                                                                                           | (13)   |
|   |                                                                                                                                                                                                                                                                                                                                                                       |   |
| 10.38  | Asset Purchase Agreement, dated as of January 18, 2018, by and between Standard Outdoor Southeast I LLC and Quality I/N Signs and Outdoor Advertising,                  LLC                                                                                                                                                                                                | (8)    |
|   |                                                                                                                                                                                                                                                                                                                                                                       |   |
| 10.39+ | Promissory Note and Security Agreement, dated as of January 18, 2018, by and between Standard Outdoor Southeast I LLC and Quality I/N Signs and Outdoor                  Advertising, LLC                                                                                                                                                                                  | (8)    |
|   |                                                                                                                                                                                                                                                                                                                                                                       |   |
| 10.40  | Asset Purchase Agreement, dated as of February 20, 2018, by and between Standard Outdoor Southeast II LLC and Vista Outdoor Corporation                                                                                                                                                                                                                                    | (8)    |
|   |                                                                                                                                                                                                                                                                                                                                                                       |   |
| 10.41+ | Promissory Note and Security Agreement, dated as of February 20, 2018, by and between Standard Outdoor Southeast I LLC and Vista Outdoor Corporation                                                                                                                                                                                                                       | (8)    |
|   |                                                                                                                                                                                                                                                                                                                                                                       |   |
| 10.42  | Term Loan Agreement, dated as of February 2, 2018, by and among Standard Diversified Inc., Standard Outdoor LLC, Standard Outdoor Southwest LLC,                  Standard Outdoor Southeast I LLC, Standard Outdoor Southeast II LLC, Crystal Financial LLC, as administrative agent and collateral agent, and the financial institutions from time to time party thereto | (14)   |
|   |                                                                                                                                                                                                                                                                                                                                                                       |   |
| 10.44  | First Amendment to Amended and Restated First Lien Credit Agreement, dated as of July 24, 2019, among Turning Point Brands, Inc., Guarantors party                  thereto, the Lenders party thereto and Fifth Third Bank, as administrative agent and L/C lender                                                                                                        | (15)   |
|   |                                                                                                                                                                                                                                                                                                                                                                       |   |
| 10.44  | Form of Capped Call Agreement                                                                                                                                                                                                                                                                                                                                              | (10)   |
|   |                                                                                                                                                                                                                                                                                                                                                                       |   |
| 21.1   | Subsidiaries of the Company (previously filed)                                                                                                                                                                                                                                                                                                                             |   |
|   |                                                                                                                                                                                                                                                                                                                                                                       |   |
| 23.1   | Consent of Independent Registered Public Accounting Firm (previously filed)                                                                                                                                                                                                                                                                                                |   |
|   |                                                                                                                                                                                                                                                                                                                                                                       |   |
| 31.1   | Certification of the Principal Executive Officer of Standard Diversified Inc. required by Rule 13a-14(a) under the                  Securities Exchange Act of 1934 (filed herewith)                                                                                                                                                                                       |   |
|   |                                                                                                                                                                                                                                                                                                                                                                       |   |
| 31.2   | Certification of the Principal Financial Officer of Standard Diversified Inc. required by Rule 13a-14(a) under the                  Securities Exchange Act of 1934 (filed herewith)                                                                                                                                                                                       |   |
|   |                                                                                                                                                                                                                                                                                                                                                                       |   |
| 32.1   | Certification of the Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906                  of Sarbanes-Oxley Act of 2002 (previously filed)                                                                                                                                                  |   |

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 Table of Contents

| 101.INS | XBRL Instance Document (previously filed)                                 |   |
|---------|---------------------------------------------------------------------------|--------|
|    |                                                                      |   |
| 101.SCH | XBRL Taxonomy Extension Scheme Document (previously filed)                |   |
|    |                                                                      |   |
| 101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document (previously filed)  |   |
|    |                                                                      |   |
| 101.DEF | XBRL Taxonomy Extension Definition Linkbase Document (previously filed)   |   |
|    |                                                                      |   |
| 101.LAB | XBRL Taxonomy Extension Label Linkbase Document (previously filed)        |   |
|    |                                                                      |   |
| 101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document (previously filed) |   |

| (1) | Filed as an exhibit to the Company’s Current Report on Form 8-K filed November 25, 2016 and incorporated by reference herein. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Filed as an exhibit to the Company’s Registration Statement on Form S-4 (No. 333-215802) filed on January 30, 2017 (the “2017 S-4”) and incorporated by reference herein. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Filed as an exhibit to the Company’s Current Report on Form 8-K filed April 6, 2017 and incorporated by reference herein. |
|-----|---------------------------------------------------------------------------------------------------------------------------------|

| (4) | Filed as an exhibit to Amendment No. 4 to the 2017 S-4 filed on May 5, 2017 and incorporated by reference herein. |
|-----|-------------------------------------------------------------------------------------------------------------------|

| (5) | Filed as an exhibit to the Company’s Current Report on Form 8-K filed November 25, 2016 and incorporated by reference herein. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------|

| (6) | Filed as an exhibit to the Annual Report on Form 10-K of Turning Point Brands, Inc. filed on March 7, 2019 and incorporated by reference herein. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------|

| (7) | Filed as an exhibit to the Company’s Quarterly Report on Form 10-Q filed August 10, 2018 and incorporated by reference herein. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------|

| (8) | Filed as an exhibit to the Company’s Quarterly Report on Form 10-Q filed on May 14, 2018 and incorporated by reference herein. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------|

| (9) | Filed as an exhibit to the Company's Current Report on Form 8-K filed June 5, 2017 and incorporated by reference herein. |
|-----|--------------------------------------------------------------------------------------------------------------------------|

| (10) | Filed as an exhibit to the Current Report on Form 8-K of Turning Point Brands, Inc. filed with the SEC on July 31, 2019 and incorporated by reference herein. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (11) | Filed as an exhibit to the Company’s Information Statement on Schedule 14C filed on July 28, 2017 and incorporated by reference herein. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------|

| (12) | Filed as an exhibit to the Company’s Registration Statement on Form S-8 (No. 333- 68107) filed on November 30, 1998 and incorporated by reference herein. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (13) | Filed as an exhibit to the Company’s Current Report on Form 8-K filed August 10, 2018 and incorporated by reference herein. |
|------|-----------------------------------------------------------------------------------------------------------------------------------|

| (14) | Filed as an exhibit to the Company’s Current Report on Form 8-K filed September 20, 2019 and incorporated by reference herein. |
|------|--------------------------------------------------------------------------------------------------------------------------------------|

| (15) | Filed as an exhibit to the Quarterly Report on Form 10-Q of Turning Point Brands, Inc. filed with the SEC on August 1, 2019 and incorporated by reference herein. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| * | Management contract or compensatory plan. |
|---|-------------------------------------------|

| # | Schedules to the agreement have been omitted pursuant to Item 601(b)(2) of Regulation S-K. The Company undertakes to furnish supplementally copies of any of the omitted schedules upon request by the SEC. |
|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| + | Confidential treatment has been granted as to certain portions of this exhibit pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| SIGNATURES |
|------------|
|                       | STANDARD DIVERSIFIED INC. |
|----------------------------|---------------------------|
|                       |                      |   |
| Date:  April 22, 2020 | By:                       | /s/ Gregory H.A. Baxter                     |
|                       |                      | Gregory H.A. Baxter |
|                       |                      | Executive Chairman and Interim CEO |
|                       |                      |   |
| Date:  April 22, 2020 | By:                       | /s/ Edward J. Sweeney                     |
|                       |                      | Edward J. Sweeney |
|                       |                      | Interim Chief Financial Officer |

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