Document:

EX-10.2

 Exhibit 10.2 

AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

THIS AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the “Amendment”) is entered into as of December 5, 2022, by
and between Andrew Perlmutter (“Employee”) and Funko, Inc. (together with any of its affiliates as may employ the Employee from time to time and any successor(s) thereto, the “Company”). Capitalized terms used but
not defined in this Amendment shall have the meanings set forth in the Employment Agreement (as defined below). 
 WITNESSETH: 

WHEREAS, the Company and Employee previously entered into that certain Amended and Restated Employment Agreement, dated as of January 3,
2022 (the “Employment Agreement”); 
 WHEREAS, the Company and Employee desire to amend the Employment Agreement in certain
respects, effective as of the date hereof (the “Effective Date”). 
 NOW, THEREFORE, in consideration of the premises and
their mutual covenants and promises contained herein, the Company and Employee agree to the following: 
 1. References to the “CEO
Effective Date” shall hereby be deemed to be references to the term “Effective Date” (and any other references in the Employment Agreement to Employee’s role as Chief Executive Officer, including the recitals, shall be read
consistent with the intent that Employee shall transition from the role of Chief Executive Officer to President as of the Effective Date). 

2. The first sentence of Section 3.01 of the Employment Agreement is hereby deleted and replaced in its entirety as follows: 

“During the Term, the Company has appointed Employee to serve as the Company’s President.” 

3. The first sentence of Section 3.02 of the Employment Agreement is hereby amended by deleting clause (b) thereof and replacing such
clause in its entirety as follows: 
 “(b) that Employee may work from his home or from other Company offices as may be agreed to
between Employee and the Company’s Chief Executive Officer from time to time” 
 4. The fifth sentence of Section 3.02 of the
Employment Agreement is hereby deleted and replaced in its entirety as follows: 
 “Employee shall report to, and be subject to the
direction of, the Company’s Chief Executive Officer, or if determined by the Board, the Board.” 

 5. Section 7.03 of the Employment Agreement is hereby deleted and replaced in its entirety
as follows: 
 “ Good Reason Defined. Termination of Employee’s employment by Employee for any of the following reasons
shall be deemed for “Good Reason”: (a) a material adverse change in Employee’s title or reporting line or material duties, authorities or responsibilities, as determined by the Board (provided, that Employee’s title, reporting
line or material duties, authorities or responsibilities shall not be deemed to be materially adversely changed solely because the Company (or its successor) is no longer an independently operated public entity or becomes a subsidiary of another
entity); (b) a material breach by the Company of any material provision of this Agreement; (c) a material reduction of Employee’s Base Salary or benefits or target bonus opportunity (other than such a reduction that is generally consistent
with a general reduction affecting the Company’s other similarly situated executives); (d) failure by the Company to pay any portion of Employee’s earned Base Salary or bonus; or (e) the Company’s requiring Employee to be
headquartered at any office or location more than 50 miles from Everett, Washington (provided, however, that for the avoidance of doubt this criteria shall not apply to the extent Employee works remotely pursuant to Section 3.02 above),
provided that in the case of all the above events, Employee may not resign from his employment for Good Reason unless he provides the Company written notice within 90 days after the initial occurrence of the event, the Company has not corrected the
event within 60 days after receiving such written notice, and Employee’s resignation based on such Good Reason is effective within twelve months after the initial occurrence of such event.” 

6. The Company and Employee acknowledge and agree that the changes to Employee’s position effected by Sections 2 and 3 of this Amendment
constitute Good Reason under the Employment Agreement, and that if such Good Reason event is not corrected by the Company pursuant to Section 7.03 of the Employment Agreement, as amended, within 30 days after the Effective Date, Employee shall
be entitled to resign for Good Reason within 12 months after the Effective Date. 
 7. Except as expressly modified hereby or as
specifically provided herein, the Employment Agreement, including without limitation Section 8.06, shall remain in full force and effect following the date hereof pursuant to its current terms. This Amendment, together with the Employment
Agreement (as modified hereby), represent the entire agreement with respect to the subject matter hereof and supersede and preempt any prior understandings, agreements or representations by or among the parties, written or oral, that may have
related to the subject matter hereof. This Amendment and all of the provisions hereof shall be binding upon, and inure to the benefit of, the parties hereto and their successors (including successors by merger, consolidation, sale or similar
transaction, permitted assigns, executors, administrators, personal representatives, heirs and distributees); provided that Employee may not assign any of his rights or delegate any of his duties or obligations hereunder without the prior written
consent of the Company. 

 7. This Amendment may be executed in several counterparts, each of which shall be deemed to
be an original, but all of which together will constitute one and the same agreement. 
 [signature page follows] 

* * * * * * * * 

 IN WITNESS WHEREOF, the Company and Employee have freely and voluntarily executed this
Agreement as of the date and year first above written. 
  

	
	EMPLOYEE
	
	 /s/ Andrew Perlmutter

	Andrew Perlmutter

  

			
	FUNKO, INC.
		
	By:	 	 /s/ Tracy Daw

		 	Tracy Daw
	Title:	 	Chief Legal Officer

  
 4EX-10.3

 Exhibit 10.3 

AMENDMENT TO EMPLOYMENT AGREEMENT 

THIS AMENDMENT TO EMPLOYMENT AGREEMENT (the “Amendment”) is entered into as of December 5, 2022, by and between Brian
Mariotti (“Employee”) and Funko, Inc. (together with any of its affiliates as may employ the Employee from time to time and any successor(s) thereto, the “Company”). Capitalized terms used but not defined in this
Amendment shall have the meanings set forth in the Employment Agreement (as defined below). 
 WITNESSETH: 

WHEREAS, the Company and Employee previously entered into that certain Chief Creative Officer Employment Agreement, dated as of
January 3, 2022 (the “Employment Agreement”); 
 WHEREAS, the Company and Employee desire to amend the Employment
Agreement in certain respects, effective as of the date hereof (the “Effective Date”). 
 NOW, THEREFORE, in consideration
of the premises and their mutual covenants and promises contained herein, the Company and Employee agree to the following: 

1.    References to the “CCO Effective Date” shall hereby be deemed to be references to the term “Effective
Date” (and any other references in the Employment Agreement to Employee’s role as Chief Creative Officer, including the recitals, shall be read consistent with the intent that Employee shall transition to the role of Chief Executive
Officer as of the Effective Date). 
 2.    The first sentence of Section 3.01 of the Employment Agreement is hereby
deleted and replaced in its entirety as follows: 
 “During the Term, Employee agrees to serve as the Company’s Chief Executive
Officer.” 
 3.    Section 3.02 of the Employment Agreement is hereby deleted and replaced in its entirety as
follows: 
 “Location; Duties. During the Term, Employee’s primary workplace shall be the Company’s offices in Everett,
Washington or such other Company offices as may be agreed to between Employee and the Board from time to time, except (a) for usual and customary travel on the Company’s business and (b) that Employee may work from his home or from
other Company offices as may be agreed to between Employee and the Board from time to time, except for usual and customary travel on the Company’s business. During the Term, Employee agrees to serve the Company, and Employee will faithfully and
to the best of his ability discharge the duties associated with his position of Chief Executive Officer and will devote his full time during business hours for the Company and to the business and affairs of the Company, its direct and indirect
subsidiaries and its affiliates. Employee hereby 

 
confirms that during the Term, he will not render or perform services for any other corporation, firm, entity or person. Employee recognizes that he will be required to travel to perform certain
of his duties. Employee shall report to, and be subject to the direction of, the Board. During the Term, Employee shall be employed by the Company on a full time basis. Notwithstanding the foregoing, Employee shall be permitted to participate in,
and be involved with, such community, educational, charitable, professional, and religious organizations so long as such participation does not, in the judgment of the Board interfere with the performance of or create a potential conflict with
Employee’s duties hereunder.” 
 4.    The last sentence of Section 7.03 of the Employment Agreement is
hereby deleted in its entirety. 
 5.    Except as expressly modified hereby or as specifically provided herein, the
Employment Agreement shall remain in full force and effect following the date hereof pursuant to its current terms. This Amendment, together with the Employment Agreement (as modified hereby), represent the entire agreement with respect to the
subject matter hereof and supersede and preempt any prior understandings, agreements or representations by or among the parties, written or oral, that may have related to the subject matter hereof. This Amendment and all of the provisions hereof
shall be binding upon, and inure to the benefit of, the parties hereto and their successors (including successors by merger, consolidation, sale or similar transaction, permitted assigns, executors, administrators, personal representatives, heirs
and distributees); provided that Employee may not assign any of his rights or delegate any of his duties or obligations hereunder without the prior written consent of the Company. 

4.    This Amendment may be executed in several counterparts, each of which shall be deemed to be an original, but all of
which together will constitute one and the same agreement. 
 [signature page follows] 

* * * * * * * * 

 IN WITNESS WHEREOF, the Company and Employee have freely and voluntarily executed this
Agreement as of the date and year first above written. 
  

	
	EMPLOYEE
	
	 /s/ Brian Mariotti

	Brian Mariotti

  

			
	FUNKO, INC.
		
	By:	 	 /s/ Tracy Daw

		 	Tracy Daw
	Title:	 	Chief Legal Officer

  
 3

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