Document:

EX-10.3

 Exhibit 10.3 

SECOND AMENDMENT TO THE 

THIRD AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

This Second Amendment (this “Amendment”), dated as of October 11, 2019 by and between LIFETIME BRANDS, INC., a Delaware
Corporation (the “Company”) and JEFFREY SIEGEL (the “Executive”) shall become effective as of January 1, 2019 (the “Second Amendment Effective Date”) and further amends the Third Amended and Restated Employment
Agreement, dated as of January 12, 2017, which was last amended on November 8, 2017 (the “Employment Agreement”) between the Company and the Executive. Capitalized terms used herein but not defined shall have the meanings
ascribed to such terms in the Employment Agreement. 
 WHEREAS, the Company and the Executive have agreed upon certain changes to the
Employment Agreement; and 
 WHEREAS, pursuant to Section 8(g) of the Employment Agreement, the Company and the Executive wish to amend
the Employment Agreement as of the Second Amendment Effective Date to provide for these revised contractual terms; 
 NOW, THEREFORE, in
consideration of Executive’s continued employment with the Company and other good and sufficient consideration set forth herein, the Company and the Executive hereby agree as follows: 

1. Section 4 of the Employment Agreement shall be amended as of the Second Amendment Effective Date to delete the first paragraph of
Section 4(b) in its entirety and to delete Section 4(b)(i) in its entirety and replace each of the foregoing sections with the following: 

“(b) Annual Bonuses. For each year during the Term commencing with the year ending December 31, 2019, the
Executive shall receive an “Annual Adjusted EBITDA Performance Bonus” and an “Annual Individual Goal Bonus” determined as follows: 

(i) Annual Adjusted EBITDA Performance Bonus. The Compensation Committee of the Board (the “Compensation
Committee”) shall prepare and deliver to the Executive within 90 days following the beginning of each year during the Term commencing with the year ending December 31, 2019 an Adjusted EBITDA Performance Bonus Table (the
“Adjusted EBITDA Performance Bonus Table”) for such year under which (A) the Adjusted EBITDA (as defined below) to be achieved by the Employer for the Executive to obtain 100% of the Adjusted EBITDA Target Bonus shall be based
on the annual budget for such year prepared by the management of the Employer and approved by the Board and (B) the “Adjusted EBITDA Target Bonus” shall be 100% of the Base Salary payable to the Executive for such year. The
threshold Adjusted EBITDA for such year shall be 84% of the target Adjusted EBITDA for such year which, if achieved, would entitle the Executive to receive 50% of the Adjusted EBITDA Target Bonus for such year consistent with the Adjusted EBITDA
Performance Bonus Table for such year. The maximum Adjusted EBITDA for such year shall be 132% of the target Adjusted EBITDA for such year which, if achieved, would entitle the Executive to receive 200% of the Adjusted EBITDA Target Bonus for such
year, consistent with the Adjusted EBITDA Performance Bonus Table for such year. The Executive shall be entitled to receive the sliding scale percentages of the Adjusted EBITDA 

  
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Target Bonus set forth in the Adjusted EBITDA Performance Table based upon the Adjusted EBITDA being more than the threshold Adjusted EBITDA but less than the target Adjusted EBITDA, or more than
the target Adjusted EBITDA but less than the maximum Adjusted EBITDA. 
 Notwithstanding anything to the contrary contained in this
Agreement, the Annual Adjusted EBITDA Performance Bonus for any such year will be zero if the Adjusted EBITDA achieved by the Employer for such year is less than the threshold Adjusted EBITDA for such year, and in no event will an Annual Adjusted
EBITDA Performance Bonus for such year be more than 200% of the Adjusted EBITDA Target Bonus for such year even if the Adjusted EBITDA achieved by the Employer for such year exceeds the maximum Adjusted EBITDA for such year. 

The Employer shall pay in each of the immediate following years to the Executive the Adjusted EBITDA Performance Bonus earned by the Executive
for such preceding year within ten days of the Employer filing its Annual Report on Form 10-K for such preceding year with the Securities and Exchange Commission; 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 EBITDA 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 EBITDA 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. 

The bonuses payable by the Employer to the Executive pursuant to this clause (i) shall be awarded under and subject to the terms of the
Employer’s 2000 Incentive Bonus Compensation Plan or any successor plan (the “Plan”); provided, however, if the Employer shall determine that such bonuses would not qualify under the terms of the Plan, the Employer shall use its best
efforts to amend the Plan so that such bonuses would qualify under the terms of the Plan; provided further, however, if the Employer is unable to so amend the Plan, the Employer shall enter into another financial arrangement with the Executive to
provide the Executive with the same economic benefit, on an after-tax basis, as the Executive would have received if such bonuses had qualified under the terms of the Plan. 

For purposes of this Agreement, the term “Adjusted EBITDA”, as it applies to any particular year, means that amount for such year
equal to the Employer’s Earnings before Interest, Taxes, Depreciation, and Amortization, as determined by the Employer and derived from the Employer’s audited financial statements, subject to such modifications as are set forth in the
Annual Adjusted EBITDA Performance Bonus Table for such year. 

  
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 If the Executive’s employment is terminated on or prior to June 30 of a calendar
year (w) by the Employer for any reason other than Cause, (x) by the Executive for Good Reason, (y) by the Employer or the Executive due to the Executive’s Disability, or (z) by reason of the Executive’s death, any
Annual Adjusted EBITDA Performance Bonus with respect to such year payable to the Executive or his estate, as the case may be, accrued to the date of termination of the Executive’s employment shall be that amount equal to (1) the amount of
the Annual Adjusted EBITDA Performance Bonus that would have been payable to the Executive if the Executive’s employment had not been terminated during the year times (2) a fraction the numerator of which is the number of months elapsed
during the year up to and including the month of termination of the Executive’s employment and the denominator of which is 12. 
 If the
Executive’s employment is terminated on or following July 1 of a calendar year (w) by the Employer for any reason other than Cause, (x) by the Executive for Good Reason, (y) by the Employer or the Executive due to the
Executive’s Disability, or (z) by reason of the Executive’s death, any Annual Adjusted EBITDA Performance Bonus with respect to such year payable to the Executive or his estate, as the case may be, accrued to the date of termination
of the Executive’s employment shall be that amount equal to the amount of the Annual Adjusted EBITDA Performance Bonus that would have been payable to the Executive with respect to such year if the Executive’s employment had not been
terminated during the year (without proration).” 
 2. As of the Second Amendment Effective Date, each reference to “Annual
Adjusted IBIT Performance Bonus” throughout the Employment Agreement shall be deleted and replaced with the following: “Annual Adjusted EBITDA Performance Bonus.” 

3. The Employment Agreement, as amended by this Second 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 Second Amendment are superseded by this Second Amendment. 

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

 6. The Company represents and warrants that it has the full power and authority to enter into this Amendment. 

[The remainder of this page is intentionally left blank] 

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

			
	LIFETIME BRANDS, INC.
	
	By:     /s/ Robert B.
Kay                                
	Name: Robert B. Kay
	Title: CEO
	
	EXECUTIVE
	
	    /s/ Jeffrey Siegel
                                        

	Jeffrey Siegel

  
 4EX-10.4

 Exhibit 10.4 

SECOND AMENDMENT TO THE AMENDED AND RESTATED 

EMPLOYMENT AGREEMENT 
 This
Second Amendment (this “Second Amendment”), dated as of October 11, 2019 by and between LIFETIME BRANDS, INC., a Delaware Corporation (the “Company”) and LAURENCE WINOKER (the “Executive”) shall become effective as
of January 1, 2019 (the “Second Amendment Effective Date”) and amends the Amended and Restated Employment Agreement, dated as of September 10, 2015, as amended by an Amendment dated as of November 8, 2017 (the
“Employment Agreement”) between the Company and the Executive. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Employment Agreement. 

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

WHEREAS, pursuant to Section 14(a) of the Employment Agreement, the Company and the Executive wish to amend the Employment Agreement as
of the Second Amendment Effective Date to provide for these revised contractual terms; 
 NOW, THEREFORE, in consideration of
Executive’s continued employment with the Company and other good and sufficient consideration set forth herein, the Company and the Executive hereby agree as follows: 

1. Section 3 of the Employment Agreement shall be amended as of the Second Amendment Effective Date to delete the first paragraph of
Section 3(b) in its entirety and to delete Section 3(b)(i) in its entirety and replace each of the foregoing sections with the following: 

“(b) Annual Bonus Opportunity For Years Ending December 31, 2019 and Thereafter. For each year
during the Employment Term commencing with the year ending December 31, 2019, the Executive shall receive an Annual Adjusted EBITDA Performance Bonus and an Annual Individual Goal Bonus (each a “Performance Bonus”) determined as
follows: 
 (i) Annual Adjusted EBITDA Performance Bonus For Years Ending December 31, 2019 and Thereafter. For
each year during the Employment Term of this Agreement commencing with the year ending December 31, 2019, the CEO shall prepare and deliver to the Executive within ninety (90) days following the beginning of such year an Adjusted EBITDA
Performance Bonus Table for such year under which: (A) the Adjusted EBITDA to be achieved by the Company for the Executive to obtain 100% of the target bonus will be based on the annual budget for such year prepared by the management of the
Company and approved by the Board of Directors of the Company; and (B) the target bonus payable upon achieving 100% of the target Adjusted EBITDA for such year will be 37.5% of the Base Salary payable to the Executive for such year. Similarly,
the threshold Adjusted EBITDA for such year will be 84% of the target Adjusted EBITDA for such year which, if achieved, would entitle the Executive to receive 50% of the target bonus for such year consistent with the Adjusted EBITDA Performance
Bonus Table for such year. The maximum Adjusted EBITDA for such year will be 116% of the target Adjusted EBITDA for such year which, if achieved, would entitle the Executive to receive 200% of the target bonus for such year, consistent with the
Adjusted EBITDA Performance Table for such year. The Executive shall be entitled to receive the sliding 

  
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scale percentages of the target bonus set forth in the Adjusted EBITDA Performance Table based upon Adjusted EBITDA being more than the threshold Adjusted EBITDA but less than the target Adjusted
EBITDA, or more than the target Adjusted EBITDA but less than the maximum Adjusted EBITDA; provided, however, notwithstanding anything to the contrary contained in this Agreement, the Adjusted EBITDA Performance Bonus for any such year will be zero
if the Adjusted EBITDA achieved by the Company for such year is less than the threshold Adjusted EBITDA for such year, and in no event will an Adjusted EBITDA Performance Bonus for any such year be more than the maximum target bonus for such year
even if the Adjusted EBITDA achieved by the Company for such year exceeds the maximum Adjusted EBITDA for such year. 
 The
Company shall pay in each of the immediate following years to the Executive the Adjusted EBITDA Performance Bonus earned by the Executive for such preceding year within ten (10) days of the Company filing its Annual Report on Form 10-K for such preceding year with the Securities and Exchange Commission (or sooner to the extent necessary to satisfy any requirements of 409A); 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 Company to deduct the amount of the Adjusted EBITDA Performance Bonus for such year is earlier, the Company shall pay, (A) if the Company can
determine such amount by the IRS Payment Date, such amount prior to the IRS Payment date or (B) if the Company cannot determine such amount by the IRS Payment Date, 90% of the Company’s good faith estimate of such amount by the IRS Payment
Date and the balance, if any, as soon thereafter as the Company can determine such amount. If, however, 90% of the Company’s good faith estimate of such amount is more than the Adjusted EBITDA Performance Bonus for such year, the Executive
shall promptly return such excess to the Company as soon as the Company shall notify the Executive of the amount of such excess. 

The bonuses payable by the Company to the Executive pursuant to this clause (i) shall be awarded under and subject to the
terms of the Company’s 2000 Incentive Bonus Compensation Plan or any successor thereto (the “Plan”); provided, however, if the Company shall determine that such bonuses would not qualify under the terms of the Plan, the Company shall
use its best efforts to amend the Plan so that such bonuses would qualify under the terms of the Plan; provided further, however, if the Company is unable to so amend the Plan, the Company shall enter into another financial arrangement with the
Executive to provide the Executive with the same economic benefit, on an after-tax basis, as the Executive would have received if such bonuses had qualified under the terms of the Plan. 

For purposes of this Agreement, the term “Adjusted EBITDA”, as it applies to any particular year, means that amount
for such year equal to the Company’s Earnings before Interest, Taxes, Depreciation, and Amortization, as determined by the Company and derived from the Company’s audited financial statements, subject to such modifications as are set forth
in the Annual Adjusted EBITDA Performance Bonus Table for such year. 
 If the Executive’s employment is terminated
prior to December 1 of any year (A) by the Company for any reason other than Cause, (B) by the Executive for Good Reason, (C) by the Company or the Executive due to the Executive’s Total Disability, or (D) by reason of
the Executive’s death, any Annual Adjusted EBITDA Performance Bonus payable to the Executive or his estate, as the case may be, accrued to the date of termination of the Executive’s employment shall be that amount equal to (1) the
amount of the Annual Adjusted EBITDA 

  
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Performance Bonus that would have been payable to the Executive if the Executive’s employment had not been terminated during the year times (2) a fraction the numerator of which is the
number of months elapsed during the year up to and including the month of termination of the Executive’s employment and the denominator of which is 12.” 

2. As of the Second Amendment Effective Date, each reference to “Annual Adjusted IBIT Performance Bonus” throughout the Employment
Agreement shall be deleted and replaced with the following: “Annual Adjusted EBITDA Performance Bonus” and each reference to “COO” shall be deleted and replaced with “CEO” and any references to “CEO and COO”
shall be replaced with “CEO.” 
 3. The Employment Agreement, as amended by this Second 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 Second Amendment are superseded by this Second Amendment. 

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

 6. The Company represents and warrants that it has the full power and authority to enter into this Second Amendment. 

[The remainder of this page is intentionally left blank] 

  
 3 

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

			
	LIFETIME BRANDS, INC.
	
	By:     /s/ Robert B. Kay        
	Name: Robert B. Kay
	Title: CEO
	
	EXECUTIVE
	
	    /s/ Laurence Winoker         
	Laurence Winoker

  
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