Document:

September 30, 2017 Exhibit 10.3

Exhibit 10.3

FOURTH AMENDMENT AGREEMENT

This FOURTH AMENDMENT AGREEMENT (this "Amendment") is made as of the
13th day of September, 2017 between:

(a)S&W SEED COMPANY, a Nevada corporation ("Borrower"); and

(b)KEYBANK NATIONAL ASSOCIATION, a national banking association ("Lender").

WHEREAS, Borrower and Lender are parties to that certain Credit and Security Agreement, dated as of September 22, 2015 (as amended and as the same may from
time to time be further amended, restated or otherwise modified, the "Credit Agreement");

WHEREAS, Borrower and Lender desire to amend the Credit Agreement to modify 

certain provisions thereof and add certain provisions thereto;

WHEREAS, each capitalized term used herein and defined in the Credit Agreement, but not otherwise defined herein, shall have the meaning given such term in the
Credit Agreement; and

WHEREAS, unless otherwise specifically provided herein, the provisions of the Credit Agreement revised herein are amended effective as of the date of this
Amendment;

NOW, THEREFORE, in consideration of the premises and of the mutual covenants 

herein and for other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Borrower and Lender agree as follows:

	Amendment to Definitions in the Credit Agreement. Section 1.1 of the Credit Agreement is hereby amended to delete the definitions of "Applicable
Margin", Borrowing Base", "Commitment Period", "Consolidated EBITDA", "Consolidated Fixed Charges", "Fixed Charge Coverage
Ratio", "Maximum Revolving Amount", "Pioneer Loan Documents", "Temporary Reporting Increase Period", "Temporary Reporting Increase
Period Termination Date" and "Total Commitment Amount" therefrom and to insert in place thereof, respectively, the following:

"Applicable Margin" means (a) twenty (20.00) basis points with respect to Base Rate Loans, and (b) two hundred twenty (220.00) basis points with respect
to Eurodollar Loans.

"Borrowing Base" means an amount equal to the total of the following:

(a)up to eighty-five percent (85%) of the aggregate amount due and owing on Eligible Accounts Receivable (other than Eligible Insured Accounts Receivable) of
Borrower; plus

(b)up to ninety percent (90%) of the aggregate amount due and owing on Eligible Insured Accounts Receivable of Borrower; plus

(c)the lesser of (i) up to sixty-five percent (65%) of the aggregate of the cost or market value (whichever is lower), as determined in accordance with GAAP, of the
Eligible Inventory of Borrower, and (2) up to ninety percent (90%) of the Appraised Inventory NOLV of the Eligible Inventory of Borrower (as such Appraised Inventory NOLV percentage is
determined on a per-season basis in the most recent inventory appraisal); minus

(d)Reserves, if any;

provided that, anything herein to the contrary notwithstanding, Lender shall at all times have the right to modify or reduce such percentages or dollar amount caps or
other components of the Borrowing Base from time to time, in its Permitted Discretion.

"Commitment Period" means the period from the Closing Date to September 12, 2019, or such earlier date on which the Commitment shall have been
terminated pursuant to Article IX hereof.

"Consolidated EBITDA" means, for any period, as determined on a Consolidated basis, (a) Consolidated Net Earnings for such period plus, without
duplication, the aggregate amounts deducted in determining such Consolidated Net Earnings in respect of (i) Consolidated Interest Expense, (ii) Consolidated Income Tax Expense, (iii)
Consolidated Depreciation and Amortization Charges, (iv) non-recurring separation charges incurred during the fiscal quarter of Borrower ended June 30, 2017, in the aggregate amount of
Six Hundred Seventy-Four Thousand Five Hundred Ninety-Seven Dollars ($674,597), (v) non-recurring reserve for uncollectible sublease and stand establishment receivables incurred during
the fiscal quarter of Borrower ended June 30, 2017, in the aggregate amount of Five Hundred Forty-Two Thousand Two Hundred One Dollars ($542,201), (vi) non-cash expenses incurred in
connection with stock-based compensation, (vii) non-cash expenses incurred in connection with amortization of debt discount, (viii) and non-cash expenses incurred prior to December 31,
2017 in connection with derivative warrant liability; minus (b) to the extent included in Consolidated Net Earnings for such period, non-cash gains incurred prior to December 31, 2017 in
connection with derivative warrant liability.

"Consolidated Fixed Charges" means, as of any date of determination, as determined on a Consolidated basis, the aggregate, without duplication, of (a)
Consolidated Interest Expense paid in cash for the most recently completed four fiscal quarters of Borrower, and (b) the current portion (amounts to be paid over the next four fiscal quarters)
of principal payments on Consolidated Funded Indebtedness (other than (i) payments of the Revolving Loans, and (ii) payments of the Pioneer Promissory Note), including payments on
Capitalized Lease Obligations.

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"Fixed Charge Coverage Ratio" means, as of any date of determination, on a Consolidated basis, the ratio of (a) the total (determined for the most recently
completed four fiscal quarters of Borrower) of (i) Consolidated EBITDA, minus (ii) Consolidated Unfunded Capital Expenditures (excluding consolidated capital expenditures prior to July 1,
2017 in the aggregate amount of Two Million Eight Hundred Thirty-Six Thousand One Hundred Fifty-One Dollars ($2,836,151)), minus (iii) Consolidated Income Tax Expense paid in cash,
minus (iv) Capital Distributions; to (b) Consolidated Fixed Charges as of such date of determination.

"Maximum Revolving Amount" means Thirty-Five Million Dollars ($35,000,0000).

"Pioneer Loan Documents" means, as applicable, (a) the Pioneer Promissory Note and each other loan agreement executed in connection therewith, and
(b) any refinancing documentation pursuant to the Permitted Pioneer Refinancing; as any of the foregoing may from time to time be amended, restated or otherwise modified.

"Temporary Reporting Increase Period" means the period beginning on the date that the Excess Borrowing Base Availability is less than the Trigger
Amount for a period of five (5) consecutive days and ending on the Temporary Reporting Increase Period Termination Date; provided that a Temporary Increase Reporting Period shall
terminate only two (2) times during the Commitment Period.

"Temporary Reporting Increase Period Termination Date" means the date on which the Excess Borrowing Base Availability shall be no less than the
Trigger Amount for thirty (30) consecutive days prior to, and one day after, the most recently completed calendar month.

"Total Commitment Amount" means the principal amount of Thirty-Five Million Dollars ($35,000,0000).

	Addition to Definitions in the Credit Agreement. Section 1.1 of the Credit Agreement is hereby amended to add the following new definitions
thereto:

"Appraised Inventory NOLV" means the appraised net orderly liquidation value of the Eligible Inventory, as set forth for the applicable time periods in the
most recent inventory appraisal report completed on behalf of, and reasonably acceptable to, Lender.

"Permitted Pioneer Refinancing" means, with respect to the Indebtedness outstanding under the Pioneer Promissory Note (the "Refinanced
Indebtedness"), any Indebtedness issued in exchange for, or the net proceeds of which are used to modify, extend, refinance, renew, or replace or refund ("Refinancing"),
such Refinanced Indebtedness, so long as:

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(a)such Refinancing (including, without limitation, the Refinancing amount) is on terms acceptable to Lender and provided by a lender ("New Lender")
acceptable to Lender;

(b)such Refinancing is secured by no more collateral than the Permitted Pioneer Refinancing Collateral;

(d)the Refinanced Indebtedness shall be subordinated to the Obligations, and New Lender shall become party to the Intercreditor Agreement, on terms
substantially consistent as those set forth in the existing Intercreditor Agreement; and 

(e)on the closing date of such Refinancing, Borrower shall deliver to Lender a copy of the Refinancing debt documents, certified by an officer of Borrower as being
true and complete.

On and after the date of the Permitted Pioneer Refinancing, all references to Pioneer in the Loan Documents shall refer to New Lender, and all references to the
Pioneer Loan Documents in the Loan Documents shall refer to the definitive documentation for the Refinanced Indebtedness executed by Borrower and New Lender.

"Permitted Pioneer Refinancing Collateral" means Borrower's real property and equipment located at (a) its Nampa, Idaho and Five Points, California
production facilities and (b) its Arlington, Wisconsin and Nampa, Idaho research facilities.

"Trigger Amount" means Three Million Five Hundred Thousand Dollars ($3,500,000).

	Amendment to Collateral Audit and Appraisal Fees Provisions. Section 2.8 of the Credit Agreement is hereby amended to delete subsection (c)
therefrom and to insert in place thereof the following:

(c)Collateral Audit and Appraisal Fees. Borrower shall promptly reimburse Lender, for all costs and expenses relating to any collateral assessment and
Inventory appraisal that may be conducted from time to time by or on behalf of Lender, the scope and frequency of which shall be in the sole discretion of Lender; provided that, absent an
Event of Default, during each calendar year Borrower need not reimburse Lender for more than (i) three collateral field audits and (ii) one Inventory appraisal.

	Amendment to Financial Covenants Provisions. Section 5.3 of the Credit Agreement is hereby amended to add the following new subsection (o)
thereto:

(o)Additional Financial Reporting. Borrower shall deliver to Lender, concurrently with the delivery of the monthly Borrowing Base Certificate set forth in
subsection (a) above, in each case in form and substance satisfactory to Lender:

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(i)a report setting forth the calculation of the Revolving Credit Exposure covenant set forth in Section 5.7(c) hereof; and

(ii)a report setting forth the daily Excess Borrowing Base Availability for the most recently completed month.

	Addition to Financial Covenants Provisions. Section 5.7 of the Credit Agreement is hereby amended to delete subsection (a) therefrom and to insert in
place thereof the following, and to add the following new subsections (c) and (d) thereto:

(a)Fixed Charge Coverage Ratio. Borrower shall not suffer or permit at any time, as of the end of any fiscal quarter of Borrower, the Fixed Charge
Coverage Ratio to be less than 1.05 to 1.00.

(c)Maximum Revolving Credit Exposure. Borrower shall maintain, as determined as of the end of each fiscal quarter of Borrower, a maximum Revolving
Credit Exposure of:

(i)Twenty Million Dollars ($20,000,000) for any thirty (30) consecutive day period during the most recently completed twelve (12) calendar months; and

(ii)Twenty-Five Million Dollars ($25,000,000) for any sixty (60) consecutive day period during the most recently completed twelve (12) calendar months.

(d)Maximum Capital Expenditures from Equity Raises. Borrower shall not suffer or permit more than One Million Two Hundred Thousand Dollars
($1,200,000) from the proceeds of equity raises to be used for purposes of financing Consolidated Capital Expenditures for each of the fiscal years of Borrower ending June 30, 2018 and
June 30, 2019.

	Addition to Borrowing Covenant Provisions. Section 5.8 of the Credit Agreement is hereby amended to add the following new subsection (g) and (h) at
the end thereof:

(g)Borrower may consummate the Permitted Pioneer Refinancing; and

(h)Subordinated Indebtedness incurred by Borrower for the purchase of GMO alfalfa seed rights from Pioneer Hi-Bred International, Inc., in an aggregate amount
of approximately Seven Million Dollars ($7,000,000), so long as such Indebtedness is (i) on terms and conditions satisfactory to Lender in its sole discretion, and (ii) subject to a subordination
agreement in form and substance satisfactory to Lender.

	Addition to Lien Covenant Provisions. Section 5.9 of the Credit Agreement is hereby amended to add the following new subsection (h) at the end
thereof:

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(h)Liens on Permitted Pioneer Refinancing Collateral securing Indebtedness permitted pursuant to Sections 5.8(g) and (h) hereof

	Addition to Notice Provisions. Section 5.14(a) of the Credit Agreement is hereby amended to add the following new subpart (iv) at the end
thereof:

(iv)a Temporary Reporting Increase Period has commenced.

	Addition to Restricted Payment Covenant Provisions. Section 5.15 of the Credit Agreement is hereby amended to add the following subsection (e) at the
end thereof:

(e)so long as no Default or Event of Default shall then exist or, after giving pro forma effect to such payment, thereafter shall begin to exist, Borrower may make
regularly scheduled payments of principal and interest with respect to the Indebtedness permitted to be incurred (i) as a result of the Permitted Pioneer Refinancing, and (ii) pursuant to
Section 5.8(h) hereof.

	Amendment to Events of Default Provisions. Article VIII of the Credit Agreement is hereby amended to delete Section 8.2 therefrom and to insert in place
thereof, the following:

Section 8.2. Special Covenants.

(a)If any Company shall fail or omit to perform and observe Section 5.3, 5.7, 5.8, 5.9, 5.11, 5.12, 5.13, 5.15, 5.26 or 5.27 hereof.

(b)If the indebtedness evidenced by the Pioneer Promissory Note is at any time within thirty (30) days of its scheduled maturity date.

	Closing Deliveries. Concurrently with the execution of this Amendment, Borrower shall:

(a)deliver to Lender a new Revolving Credit Note in the principal amount of Thirty-Five Million Dollars ($35,000,000);

(b)deliver to Lender certified copies of the resolutions of the board of directors of Borrower evidencing approval of the execution and delivery of this Amendment
and the execution of any other Loan Documents and Related Writings required in connection therewith;

(c)pay a renewal fee to Lender in the amount of One Hundred Seventy-Five Thousand Dollars ($175,000);

(d)cause each Guarantor of Payment to execute the attached Guarantor Acknowledgment and Agreement; and

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(e)pay all legal fees and expenses of Lender in connection with this Amendment.

	Representations and Warranties. Borrower hereby represents and warrants to Lender that (a) Borrower has the legal power and authority to execute and
deliver this Amendment; (b) the officers executing this Amendment have been duly authorized to execute and deliver the same and bind Borrower with respect to the provisions hereof; (c) the
execution and delivery hereof by Borrower and the performance and observance by Borrower of the provisions hereof do not violate or conflict with the Organizational Documents of Borrower
or any material law applicable to Borrower or result in a breach of any provision of or constitute a default under any other material agreement, instrument or document binding upon or
enforceable against Borrower; (d) no Default or Event of Default exists, nor will any occur immediately after the execution and delivery of this Amendment or by the performance or
observance of any provision hereof; (e) each of the representations and warranties contained in the Loan Documents is true and correct in all material respects as of the date hereof as if
made on the date hereof, except to the extent that any such representation or warranty expressly states that it relates to an earlier date (in which case such representation or warranty is true
and correct in all material respects as of such earlier date); (f) Borrower is not aware of any claim or offset against, or defense or counterclaim to, Borrower's obligations or liabilities under the
Credit Agreement or any other Related Writing; and (g) this Amendment constitutes a valid and binding obligation of Borrower in every respect, enforceable in accordance with its
terms.

	Waiver and Release. Borrower, by signing below, hereby waives and releases Lender, and its directors, officers, employees, attorneys, affiliates and
subsidiaries, from any and all claims, offsets, defenses and counterclaims, such waiver and release being with full knowledge and understanding of the circumstances and effect thereof and
after having consulted legal counsel with respect thereto.

	References to Credit Agreement and Ratification. Each reference to the Credit Agreement that is made in the Credit Agreement or any other Related
Writing shall hereafter be construed as a reference to the Credit Agreement as amended hereby. Except as otherwise specifically provided herein, all terms and provisions of the Credit
Agreement are confirmed and ratified and shall remain in full force and effect and be unaffected hereby. This Amendment is a Loan Document.

	Counterparts. This Amendment may be executed in any number of counterparts, by different parties hereto in separate counterparts and by facsimile or
other electronic signature, each of which, when so executed and delivered, shall be deemed to be an original and all of which taken together shall constitute but one and the same
agreement.

	Headings. The headings, captions and arrangements used in this Amendment are for convenience only and shall not affect the interpretation of this
Amendment.

	Severability. Any provision of this Amendment that shall be prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to
the extent of such

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prohibition or unenforceability without invalidating the remaining provisions hereof or affecting the validity or enforceability of such provision in any other
jurisdiction.

	Governing Law. The rights and obligations of all parties hereto shall be governed by the laws of the State of Ohio, without regard to principles of conflicts
of laws.

[Remainder of page intentionally left blank.]

   

   

   

   

   

   

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JURY TRIAL WAIVER. BORROWER AND LENDER, TO THE EXTENT PERMITTED BY LAW, EACH HEREBY WAIVES ANY RIGHT TO HAVE A JURY
PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, BETWEEN BORROWER AND LENDER, ARISING OUT OF, IN
CONNECTION WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED BETWEEN THEM IN CONNECTION WITH THIS AMENDMENT OR ANY NOTE OR
OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED THERETO.

IN WITNESS WHEREOF, the parties have executed and delivered this Amendment as of the date first set forth above.

S&W SEED COMPANY

By:   /s/Matthew K. Szot

Matthew K. Szot

Executive Vice President of Finance and

Administration and Chief Financial

Officer

KEYBANK NATIONAL ASSOCIATION

By: _____________________

   Mark R. Bitter

Vice President

 

   

   

   

   

   

Signature Page to

Fourth Amendment Agreement

JURY TRIAL WAIVER. BORROWER AND LENDER, TO THE EXTENT PERMITTED BY LAW, EACH HEREBY WAIVES ANY RIGHT TO HAVE A JURY
PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, BETWEEN BORROWER AND LENDER, ARISING OUT OF, IN
CONNECTION WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED BETWEEN THEM IN CONNECTION WITH THIS AMENDMENT OR ANY NOTE OR
OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED THERETO.

IN WITNESS WHEREOF, the parties have executed and delivered this Amendment as of the date first set forth above.

S&W SEED COMPANY

By:

Matthew K. Szot

Executive Vice President of Finance and

Administration and Chief Financial

Officer

KEYBANK NATIONAL ASSOCIATION

By:   /s/Mark R. Bitter

Mark R. Bitter

Vice President

   

   

   

   

Signature Page to

Fourth Amendment Agreement

GUARANTOR ACKNOWLEDGMENT AND AGREEMENT

The undersigned consent and agree to and acknowledge the terms of the foregoing Fourth Amendment Agreement dated as of September 13, 2017. The undersigned
further agree that the obligations of the undersigned pursuant to the Guaranty of Payment executed by the undersigned are hereby ratified and shall remain in full force and effect and be
unaffected hereby.

The undersigned hereby waive and release Lender and its directors, officers, employees, attorneys, affiliates and subsidiaries from any and all claims, offsets,
defenses and counterclaims of any kind or nature, absolute and contingent, of which the undersigned is aware or should be aware, such waiver and release being with full knowledge and
understanding of the circumstances and effect thereof and after having consulted legal counsel with respect thereto.

JURY TRIAL WAIVER. THE UNDERSIGNED, TO THE EXTENT PERMITTED BY LAW, HEREBY WAIVE ANY RIGHT TO HAVE A JURY PARTICIPATE IN
RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AMONG BORROWER, LENDER AND THE UNDERSIGNED, OR ANY THEREOF, ARISING
OUT OF, IN CONNECTION WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS GUARANTOR
ACKNOWLEDGMENT AND AGREEMENT, THE AMENDMENT OR ANY NOTE OR OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN
CONNECTION HEREWITH OR THE TRANSACTIONS RELATED THERETO.

SEED HOLDING, LLC

By:   /s/Matthew K. Szot

Matthew K. Szot

Manager

STEVIA CALIFORNIA, LLC

By:   /s/Matthew K. Szot

Matthew K. Szot

Manager

 

 

Signature Page to

Guarantor Acknowledgment and AgreementEX-10.1

 Exhibit 10.1 

AMENDMENT TO THE AMENDED AND RESTATED 

EMPLOYMENT AGREEMENT 
 This
Amendment, dated as of November 8, 2017, by and between LIFETIME BRANDS INC., a Delaware Corporation (the “Employer”) and JEFFREY SIEGEL, (the “Executive”) amends the Third Amended and Restated Employment Agreement, dated as
of January 12, 2017 (the “Employment Agreement”) between the Employer and the Executive. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Employment Agreement. 

WHEREAS, the Employer and the Executive have agreed upon certain changes to the Employment Agreement; and 

WHEREAS, pursuant to Section 8(g) of the Employment Agreement, the Employer and the Executive wish to amend the Employment Agreement to
provide for these revised contractual terms; 
 NOW, THEREFORE, in consideration of Executive’s continued employment with the Employer
and other good and sufficient consideration set forth herein, the Employer and the Executive hereby agree as follows: 
  

	 	1.	Section 3 of the Employment Agreement shall be deleted in its entirety and replaced with the following: 

“Term of Employment. The term of the Executive’s employment under this Agreement (the “Term”) shall commence on the
Effective Date and continue until December 31, 2019, unless his employment is sooner terminated pursuant to the provisions of Section 5 hereof; provided, however, that on each of December 31, 2019 and December 31, 2020, the Term
shall be extended for an additional one year period unless either party gives to the other party written notice (“Notice of Non-Renewal”) at least 180 days prior to such date of its decision not to
extend the Term.” 
  

	 	2.	Section 4(b) of the Employment Agreement shall be amended to add the following Section 4(b)(iii): 

“(iii) For purposes of this Agreement, the term “Target Bonus” shall mean the annual target bonus in effect for the year in
which termination occurs (including for the avoidance of doubt, the Annual Individual Goal Bonus payable if the Executive meets individual objectives); provided that, for purposes of payments made under Section 5(c) within two years following a
Change in Control, Target Bonus shall mean the annual target bonus in effect for the year in which the Change in Control occurs (including, for the avoidance of doubt, the Annual Individual Goal Bonus payable if the Executive meets individual
objectives).” 

  
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	 	3.	Section 5(b)(i) of the Employment Agreement shall be deleted in its entirety and replaced with the following: 

“(i) If, prior to the expiration of the Term, the Executive’s employment is terminated (A) by the Employer for any reason other
than Cause, (B) by the Executive for Good Reason, (C) by the Employer or the Executive due to the Executive’s Disability or (D) by reason of the Executive’s death (such a resignation or termination being hereinafter referred
to as an “Involuntary Termination”), the Executive shall be entitled to payment of the Accrued Obligations. In addition, in the event of the Executive’s Involuntary Termination, the Employer shall, conditioned (except in the case of
death) upon the Executive’s execution and non-revocation of a release of all claims against the Employer in the form attached as Exhibit A (“Release”) within such time as the Employer shall
provide, pay to the Executive as severance (the “Severance Payments”) the following amounts: 
 (x) 3.0 times the
annual Base Salary in effect at the time of termination; provided that, if such payment is made pursuant to Section 5(c), then this Section 5(b)(i)(x) shall be equal to 3.0 times the greater of annual Base Salary in effect at the time of
termination or annual Base Salary in effect at the time of the Change in Control, 
 (y) 3.0 times the Target Bonus, and

 (z) the Annual Adjusted IBIT Performance Bonus accrued to the date of Termination calculated in accordance with Section 4(b). 

The Employer shall pay to the Executive (1) the amounts referred to in clauses (x) and (y) in cash, in a lump sum within 60 days of
such termination and (2) the amount referred to in clause (z) on or following January 1 of the year following the year in which such termination occurs and within 10 days of the Employer filing with the Securities and Exchange
Commission its Annual Report on Form 10-K for the year in which such termination occurs; provided, however if the date established by the Internal Revenue Service (the “IRS Payment Date”) by which
such payment must be made in order for the Employer to deduct the amount of the Adjusted IBIT Performance Bonus for such year is earlier, the Employer shall pay, (A) if the Employer can determine such amount by the IRS Payment Date, such amount
prior to the IRS Payment date or (B) if the Employer cannot determine such amount by the IRS Payment Date, 90% of the Employer’s good faith estimate of such amount by the IRS Payment Date and the balance, if any, as soon thereafter as the
Employer can determine such amount; and provided, further, that such payment shall be made no later than December 31 of the year following the year in which such termination occurs. If, however, 90% of the Employer’s good faith estimate of
such amount is more than the Adjusted IBIT Performance Bonus for such year, the Executive shall promptly return such excess to the Employer as soon as the Employer shall notify the Executive of the amount of such excess. In addition, in the event of
the Executive’s Involuntary Termination, all of the Executive’s then-outstanding stock options and restricted stock shall be immediately vested and exercisable, to the extent consistent with the terms and conditions of the Employer’s
Amended and Restated 2000 Long-Term Incentive Plan governing such stock options and restricted stock. Anything in this Agreement to the contrary notwithstanding, no Severance Payments shall be payable

  
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under this Section 5(b) if the Executive’s employment with the Employer ends at the expiration or non-renewal of the Term in accordance with
Section 3. Anything in this Agreement to the contrary notwithstanding, in no event shall the timing of the Executive signing the Release, directly or indirectly, result in the Executive designating the calendar year of payment of any amounts
set forth in this Agreement, and if a payment that is subject to the execution of such Release could be made in more than one taxable year, payment shall be made in the later taxable year.” 

 

	 	4.	The first sentence of Section 5(c) shall be deleted and replaced with the following: 

“(c) If, during the Term, the Employer undergoes a “Change in Control” (as defined below), and either (i) upon or within
two (2) years following the Change in Control, the Executive’s employment is terminated under circumstances that would constitute an Involuntary Termination or the Executive’s employment terminates upon expiration of the Term
following a Notice of Non-Renewal provided by the Employer, or (ii) the Executive undergoes an Involuntary Termination or the Executive’s employment terminates upon expiration of the Term following a
Notice of Non-Renewal provided by the Employer and within 90 days of the Involuntary Termination or such expiration of the Term, the Employer executes a definitive agreement to enter into a transaction the
consummation of which would result in a “Change in Control” and such transaction is actually consummated, all of the Executive’s then-outstanding stock options and restricted stock shall be immediately vested and exercisable, to the
extent consistent with the terms and conditions of the Employer’s Amended and Restated 2000 Long-Term Incentive Plan governing such stock options and restricted stock, and the Executive shall be entitled to payment of the Accrued Obligations
and, conditioned upon his execution and non-revocation of the Release, within such time period as the Employer shall provide, the Severance Payments in accordance with the terms of Section 5(b)(i). For
the avoidance of doubt, the payments and benefits provided under this Section 5(c) shall be in lieu of and not in addition to the payments and benefits provided under Section 5(b) or 5(f), as applicable. For purposes of this
Section 5(c), in determining whether a termination by the Executive constitutes an Involuntary Termination, Good Reason shall be deemed to include, in addition to each event described in Section 5(a)(B) hereof, a circumstance in which the
Employer, the Board or any person controlling the Employer requires the Executive to travel for business materially more than the Executive is required to travel for business as of the date
hereof).”  
  

	 	5.	The last sentence of the first paragraph of Section 5(d) of the Employment Agreement shall be deleted in its and entirety and replaced with the following: 

“In addition, in the event the Executive’s employment is terminated due to Disability, all of the Executive’s then-outstanding
stock options and restricted stock shall be immediately vested and exercisable, to the extent consistent with the terms and conditions of the Employer’s Amended and Restated 2000 Long-Term Incentive Plan governing such stock options and
restricted stock.” 

  
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	 	6.	Section 5(f) of the Employment Agreement shall be deleted in its entirety and replaced with the following: 

“If the Executive’s employment is terminated by reason of expiration of the Term, the Executive shall be entitled to payment of the
Accrued Obligations. In addition, in such event, the Employer shall, conditioned upon the Executive’s execution and non-revocation of the Release within such time as the Employer shall provide, pay to the
Executive as severance (the “Term Expiration Severance Payment”) that amount equal to: 
 2.0 times the annual Base Salary, plus

 2.0 times the average of the sum of (A) the Annual Adjusted IBIT Performance Bonus and (B) the Annual Individual Goal Bonus
paid by the Employer to the Executive, with respect to the year ending on the date on which the Executive’s employment is terminated by reason of the expiration of the Term and each of the two immediately preceding years. 

The Employer shall pay to the Executive such amount in cash, in a lump sum within ten days of the Employer filing with the Securities and
Exchange Commission its Annual Report on Form 10-K for the year in which such termination occurs; provided, however if the date established by the Internal Revenue Service (the “IRS Payment Date”) by
which such payment must be made in order for the Employer to deduct the amount of the Adjusted IBIT Performance Bonus for such year is earlier, the Employer shall pay, (i) if the Employer can determine such amount by the IRS Payment Date, such
amount prior to the IRS Payment date or (ii) if the Employer cannot determine such amount by the IRS Payment Date, 90% of the Employer’s good faith estimate of such amount by the IRS Payment Date and the balance, if any, as soon thereafter
as the Employer can determine such amount. If, however, 90% of the Employer’s good faith estimate of such amount is more than the Adjusted IBIT Performance Bonus for such year, the Executive shall promptly return such excess to the Employer as
soon as the Employer shall notify the Executive of the amount of such excess. In addition, in such event, all of the Executive’s then outstanding stock options and restricted stock shall be immediately vested and exercisable, to the extent to
the extent consistent with the terms and conditions of the Employer’s Amended and Restated 2000 Long-Term Incentive Plan governing such stock options and restricted stock.” 

 

	 	7.	A new sentence shall be added to the end of Section 5(i) which shall state: 

 “In
addition, upon the Executive’s termination of employment for any reason other than death, the Executive shall have the right to assume the life insurance policy in the Executive’s name obtained and owned by the Employer (Policy number
                ) to the extent such assumption is permitted by such policy and the insurer; provided that, the preceding clause shall not obligate the Employer to
continue to maintain the policy referenced herein or any other life insurance policy in the Executive’s name; provided further that, in the event that the Employer elects to cease maintaining the policy

  
 4 

 
referenced herein prior to the Executive’s termination of employment, the Executive shall have the right to assume such policy. For the avoidance of doubt, in the event of any assumption of
such policy by the Executive pursuant to this Section 5(i), the Employer shall have no further liability with respect to such life insurance policy.” 
  

	 	8.	A new Section 7(e) shall be added to the Employment Agreement which shall state: 

“The Amended and Restated Indemnification Agreement between the Employer and the Executive, dated January 26, 2016, shall remain in
full force and effect in accordance with its terms.” 
  

	 	9.	Section 8(i) of the Employment Agreement shall be deleted in its entirety and replaced with the following: 

“(i) Governing Law; Disputes. This Agreement shall be governed by and construed in accordance with the laws of the State of New
York (determined without regard to the choice of law provisions thereof), and the parties consent to jurisdiction in the United States District Court for the Southern District of New York. If the Executive prevails in any legal or arbitration
proceeding commenced in connection with this Agreement, then the Employer shall reimburse the Executive for reasonable attorneys’ fees and costs incurred in connection therewith.” 

 

	 	10.	Exhibit A attached hereto shall be attached to the Employment Agreement as Exhibit A. 

  

	 	11.	The Employment Agreement, as amended by this Amendment, constitutes the entire and exclusive agreement between the parties with respect to the subject matter hereof. All previous discussions and agreements with respect
to the subject matter of this Amendment are superseded by this Amendment. 

  

	 	12.	Except as expressly amended hereby, all of the terms, conditions, and provisions of the Employment Agreement, as amended, shall remain in full force and effect. This Amendment shall form a part of the Employment
Agreement for all purposes. 

  

	 	13.	This Amendment may be executed in counterparts and by facsimile or other electronic means, including by portable document format (PDF), each of which shall be deemed to have the same legal effect as an original and
together shall constitute one and the same instrument. 

  

	 	14.	The Employer represents and warrants that it has the full power and authority to enter into this Agreement. 

  
 5 

 IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the day and year
first written above. 
  

			
	LIFETIME BRANDS, INC.
		
	By:	 	/s/ Ronald Shiftan
	Name: Ronald Shiftan
	Title: Vice Chairman and COO
	
	 /s/ Jeffrey Siegel

	Jeffrey Siegel

  
 6 

 Exhibit A 

Release 
 I, Jeffrey Siegel, the
undersigned, agree to accept the payments and benefits set forth on Section 5 of the employment agreement between me and Lifetime Brands, Inc. (the “Company”) dated as of [MONTH]     , 2017 (the “Employment
Agreement”) in full resolution and satisfaction of, and hereby IRREVOCABLY AND UNCONDITIONALLY RELEASE, REMISE AND FOREVER DISCHARGE the Company and Releasees from any and all agreements, promises, liabilities, claims, demands, rights and
entitlements of any kind whatsoever, in law or equity, whether known or unknown, asserted or unasserted, fixed or contingent, apparent or concealed, to the maximum extent permitted by law (“Claims”), which I, my heirs, executors,
administrators, successors or assigns ever had, now have or hereafter can, shall or may have for, upon, or by reason of any matter, cause or thing whatsoever existing, arising, occurring or relating to my employment and/or termination thereof with
the Company and Releasees, or my economic rights as an equity holder of the Company or Releasees, at any time on or prior to the date I execute this Release, including, without limitation, any and all Claims arising out of or relating to
compensation, benefits, any and all contract claims, tort claims, fraud claims, claims for bonuses, commissions, sales credits, etc., defamation, disparagement, or other personal injury claims, claims for accrued vacation pay, claims under any
federal, state or municipal wage payment, harassment, retaliation, discrimination or fair employment practices law, statute or regulation, and claims for costs, expenses and attorneys’ fees with respect thereto. This release and waiver
includes, without limitation, any and all rights and claims under Title VII of the Civil Rights Act of 1964, the Civil Rights Acts of 1866, 1871 and 1991, Section 1981 of U.S.C,, the Employee Retirement Income Security Act, the Age
Discrimination in Employment Act (including but not limited to the Older Workers Benefit Protection Act), the Americans with Disabilities Act, the Genetic Information Non-discrimination Act, the Family and
Medical Leave Act, the Equal Pay Act, New York State Human Rights Law, New York Equal Pay Law, New York Equal Rights Law, New York Off-duty Conduct Lawful Activities Discrimination Law, New York State Labor
Relations Act, Article 23-A of the New York State Corrections Law, New York Whistleblower Statute, New York Family Leave Law, New York Minimum Wage Act, New York Wage and Hour Law, New York Wage Hour and Wage
Payment Law, New York WARN Act, and retaliation provisions of New York Workers’ Compensation Law, and all amendments to the foregoing, and any other federal, state or local statute, ordinance, regulation or constitutional provision regarding
employment, compensation, employee benefits, termination of employment or discrimination in employment. 
 Except as permitted by Section 6(c) of the
Employment Agreement and explained below, I represent and affirm (i) that I have not filed any Claim against the Company or Releasees and (ii) that to the best of my knowledge and belief, there are no outstanding Claims. 

For the purpose of implementing a full and complete release and discharge of Claims, I expressly acknowledge that this Release is intended to include in its
effect, without limitation, all the Claims described in the preceding paragraphs, whether known or unknown, apparent or concealed, and that this Release contemplates the extinction of all such Claims, including Claims for attorney’s fees. I
expressly waive any right to assert after the execution of this Release that any such Claim has, through ignorance or oversight, been omitted from the scope of the Release. 

For purposes of this Release, the term “the Company and Releasees” includes the Company and its past, present and future direct and indirect
parents, subsidiaries, affiliates, divisions, predecessors, successors, and assigns, and their past, present and future officers, directors, shareholders, representatives, agents, attorneys and employees, in their official and individual capacities,
and all other related individuals and entities, jointly and individually, and this Release shall inure to the benefit of and shall be binding and enforceable by all such entities and individuals. 

  
 7 

 Notwithstanding anything in this Release to the contrary, I do not waive (i) my existing right to receive
vested accrued benefits under plans or programs of the Company under which I have accrued benefits (other than under any Company separation or severance plan or programs), (ii) any claims that, by law, may not be waived, (iii) any right to
indemnification under the governing documents of the Company or any indemnification agreement between me and the Company, or under any directors and officers insurance policy, with respect to my performance of duties as an officer or director of the
Company, (iv) any claim or right I may have for unemployment insurance benefits, workers’ compensation benefits, state disability and/or paid family leave insurance benefits pursuant to the terms of applicable state law and (v) any
medical claim incurred during my employment that is payable under applicable medical plans or an employer-insured liability plan. 
 I understand that
nothing in this Release or the Employment Agreement restricts or prohibits me from initiating communications directly with, responding to any inquiries from, providing testimony before, providing confidential information to, reporting possible
violations of law or regulation to, or from filing a claim or assisting with an investigation directly with a self-regulatory authority or a government agency or entity, including the U.S. Equal Employment Opportunity Commission, the Department of
Labor, the National Labor Relations Board, the Department of Justice, the Securities and Exchange Commission, the Congress, and any agency Inspector General (collectively, the “Regulators”), or from making other disclosures that are
protected under the whistleblower provisions of state or federal law or regulation. However, I acknowledge that to the maximum extent permitted by law, I am waiving my right to receive any individual monetary relief from the Company or any others
covered by this Release resulting from such claims or conduct, regardless of whether I or another party has filed them, and in the event I obtain such monetary relief the Company will be entitled to an offset for the payments made pursuant to this
Release and the Employment Agreement. I understand that this Release and the Employment Agreement do not limit my right to receive an award from any Regulator that provides awards for providing information relating to a potential violation of law. I
further understand that I do not need the prior authorization of the Company to engage in conduct protected by this Paragraph, and that I do not need to notify the Company that I have engaged in such conduct. 

I have taken notice that federal law provides criminal and civil immunity to federal and state claims for trade secret misappropriation to individuals who
disclose a trade secret to their attorney, a court, or a government official in certain, confidential circumstances that are set forth at 18 U.S.C. §§ 1833(b)(1) and 1833(b)(2), related to the reporting or investigation of a suspected
violation of the law, or in connection with a lawsuit for retaliation for reporting a suspected violation of the law. 
 I acknowledge that for purposes of
my entitlement to the payments and benefits set forth in Section 5 of the Employment Agreement, this Release will not become effective unless and until I have signed and returned this Release to the Company, and have not revoked it pursuant to
the following paragraph. 
 I further acknowledge that I have had at least 21 days from my receipt of this Release, to review and consider this Release, to
consult with an attorney prior to executing this Release, and have been provided 7 days to revoke my execution of this Release by delivering a written notice of revocation to the Company. 

I ACKNOWLEDGE THAT I HAVE READ THIS 
 RELEASE, AND I UNDERSTAND

 AND VOLUNTARILY ACCEPT ITS TERMS. 
  

					
	  
	 		 	  

	Jeffrey Siegel	 		 	Date

  
 8

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