Document:

First Amendment to Restated Guaranty

 Exhibit 10.1 

A portion of this exhibit has been omitted pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. The
omission has been indicated by asterisks (*****), and the omitted text has been filed separately with the Securities and Exchange Commission. 

FIRST AMENDMENT TO RESTATED GUARANTY 

This FIRST AMENDMENT TO RESTATED GUARANTY dated as of March 22, 2010 (this “Amendment”) by and among RCPI
LANDMARK PROPERTIES, L.L.C., a Delaware limited liability company having an address do Tishman Speyer, 45 Rockefeller Plaza, New York, New York 10111 (“Landlord”), and MADISION SQUARE GARDEN, L.P., a Delaware limited
partnership having an office at 2 Penn Plaza, New York, New York (“Guarantor”). 
 W I T
N E S S E T H 
 WHEREAS, RCPI Trust, predecessor-in-interest to Landlord, and
Radio City Productions LLC entered into that certain Lease dated as of December 4, 1997, as modified by First Amendment to Lease dated as of February 19, 1999, Second Amendment to Lease dated as of October 6, 2002 and Third Amendment
to Lease dated as of August 14, 2008 (as so amended, the “Lease”), covering premises described and defined in the Lease; 

WHEREAS, in connection with the Lease, Guarantor provided that certain Guaranty of Lease dated as of December 4, 1997, which was
restated in its entirety pursuant to that certain Restated. Guaranty of Lease (the “Restated Guaranty”) dated as of August 14, 2008; 

WHEREAS, Guarantor represents and warrants to Landlord that on January 12, 2010, Cablevision Systems Corporation
(“Cablevision”) approved the distribution of all of the outstanding common stock of Madison Square Garden, Inc. (“MSGI”) to Cablevision shareholders (the “Distribution”) and MSGI thereafter acquired the subsidiaries of
Cablevision that own, directly and indirectly, 100% of the partnership interests in Guarantor; 
 WHEREAS, Guarantor represents
and warrants to Landlord that on February 9, 2010, the Distribution occurred; and 
 WHEREAS, in connection with the
Distribution, Guarantor has requested certain changes to the Restated Guaranty, and Landlord and Guarantor desire to modify certain terms and conditions of the Restated Guaranty, all as hereinafter set forth. 

 NOW, THEREFORE, in consideration of the mutual covenants herein contained, and other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Guarantor agree as follows: 

1. Capitalized Terms. All capitalized terms used and not otherwise defined in this Amendment shall have the respective meanings
ascribed to them in the Restated Guaranty. 
 2. Modifications. As of the date hereof: 

(a) Section 2(a) of the Restated Guaranty shall be deleted in its entirety and replaced with the following provision:

 “2. (a) Guarantor covenants and agrees that for the Term of the Lease it shall maintain a Net Worth of not less than
*****. Guarantor represents and warrants to Landlord that Guarantor is 100% owned by Madison Square Garden, Inc. (“MSGI”) Guarantor shall deliver or cause to be delivered to Landlord, as soon as available and in no event later than
90 days after the close of each calendar year during the Term, either (i) annual consolidated financial statements for Guarantor prepared in accordance with generally accepted accounting principles, which shall be certified by an officer of
Guarantor and audited by an independent accounting firm which shall be any one of the so- called “Big Four” accounting firms or any other accounting firm reasonably acceptable to Landlord, or (ii) both (A) annual consolidated
financial statements for MSGI prepared in accordance with generally accepted accounting principles, which shall be certified by an officer of MSGI and audited by an independent accounting firm which shall be any one of the so- called “Big
Four” accounting firms or any other accounting firm reasonably acceptable to Landlord, and (B) an annual consolidating balance sheet for MSGI prepared in accordance with generally accepted accounting principles, which shall be certified by
the Executive Vice President and Chief Financial Officer of MSGI or a Senior Vice President, Finance of MSGI, and which consolidating balance sheet shall show the assets, liabilities and equity of Guarantor in sufficient detail for Landlord to
determine if Guarantor’s Net Worth shall fail to meet the Net Worth requirement set forth above; provided, however, that the only effect of the breach of such covenants shall be that such breach shall constitute an Event of Default under the
Lease. Landlord shall have all of its rights against Guarantor by reason of the occurrence of an Event of Default under the Lease, but shall have no independent right of action against Guarantor by reason of the breach of the foregoing
covenants.” 
 (b) The phrase “Notwithstanding anything in Section 2(a) to the contrary, if as the close of any
of Guarantor’s fiscal quarters during the term of the Lease, Guarantor’s Net Worth shall fail to meet the requirement set forth in Section 2(a) above (the “Failure”)” appearing in Section 2(b) of the
Restated Guaranty is restated to read as follows: “Notwithstanding anything in Section 2(a) to the contrary, if as of the close of any of Guarantor’s fiscal quarters (in the case of clause (i) of Section 2(a)) or MSGI’s
fiscal quarters (in the case of clause (ii) of Section 2(a)) during the term of the Lease, Guarantor’s Net Worth shall fail to meet the requirement set forth in Section 2(a) above (the “Failure”)”.

  

 2 

 3. Representations and Warranties. Guarantor represents and warrants to Landlord that
this Amendment has been duly authorized, executed and delivered by Guarantor and constitutes the legal, valid and binding obligation of Guarantor. 

4. Miscellaneous. (a) Except as set forth herein, nothing contained in this Amendment shall be deemed to amend or modify in
any respect the terms of the Restated Guaranty and such terms shall remain in full force and effect as modified hereby. If there is any inconsistency between the terms of this Amendment and the terms of the Restated Guaranty, the terms of this
Amendment shall be controlling and prevail. 
 (b) This Amendment contains the entire agreement of the parties
with respect to its subject matter and all prior negotiations, discussions, representations, agreements and understandings heretofore had among the parties with respect thereto are merged herein. 

(c) This Amendment may be executed in duplicate counterparts, each of which shall be deemed an original and all of which,
when taken together, shall constitute one and the same instrument. 
 (d) This Amendment shall not be binding
upon Landlord or Guarantor unless and until each party shall have received a fully executed counterpart of this Amendment. 

(e) This Amendment shall be binding upon and inure to the benefit of Landlord and Guarantor and their successors and
permitted assigns. 
 (f) This Amendment shall be governed by the laws of the State of New York without giving
effect to conflict of laws principles thereof. 
 (g) The captions, headings, and titles in this Amendment are
solely for convenience of reference and shall not affect its interpretation. 
 (h) The liability of Landlord for
Landlord’s obligations under this Amendment shall be limited to Landlord’s interest in the Building and Tenant shall not look to any other property or assets of Landlord or the property or assets of any direct or indirect partner, member,
manager, shareholder, director, officer, principal, employee or agent of Landlord (collectively, the “Parties”) in seeking either to enforce Landlord’s obligations under this Amendment or to satisfy a judgment for
Landlord’s failure to perform such obligations; and none of the Parties shall be personally liable for the performance of Landlord’s obligations under this Amendment. 

[Remainder of Page Intentionally Left Blank] 
  

 3 

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Third Amendment to Lease as of
the day and year first above written. 
  

			
	LANDLORD
	
	RCPI LANDMARK PROPERTIES, L.L.C.
		
	By:	 	/s/ Paul A. Galiano
		 	Senior Managing Director

  

			
	GUARANTOR
	
	MADISON SQUARE GARDEN, L.P.
		
	By:	 	/s/ Gene Heaney
		 	Name: Gene Heaney
		 	 Title: Senior Vice President, Finance,

          and ControllerEmployment Agreement

 Exhibit 10.2 

May 3, 2010 
 Robert J. Lynn 

 
 Dear Bob: 

Following up on our recent conversations, I am pleased to forward this letter setting forth the details of the employment offer we have previously
discussed. The prospect of your joining Madison Square Garden is extremely exciting to all of us here. 
 As I indicated to you, this offer is
conditioned upon your successful completion of our pre-employment screening and testing process. Following the completion of that process and your acceptance of this offer, you will join the Company as an at will employee with the title of Senior
Vice President, Treasury & Investor Relations reporting directly to me in my capacity as Executive Vice President and Chief Financial Officer. Your appointment as an officer of Madison Square Garden, Inc. (“MSG”), however, is
subject to the approval of the Compensation Committee of the Board of Directors of Madison Square Garden, Inc. (the “Compensation Committee”). 

As discussed, your anticipated start date is no later than May 24, 2010. From and after your actual start date, you agree to devote your business
time and attention to the business and affairs of the Company and to perform your duties in a diligent, competent, professional and skillful manner and in accordance with applicable law. 

Your initial base salary will be $325,000 annually, paid bi-weekly. You will be eligible to participate in our discretionary annual bonus program with an
annual target bonus opportunity equal to 35 percent of your base salary. Bonus payments are based on actual salary dollars paid during the year for which they are awarded, provided that any bonus payment for 2010 will be based on your full annual
salary of $325,000. Bonus payments depend on a number of factors, including Company, unit and individual performance. The decision on whether or not to pay a bonus, and the amount of that bonus, if any, is made by the Company in its sole discretion.
Bonuses are typically paid early in the subsequent calendar year. In order to receive a bonus, you must be employed by the Company at the time bonuses are being paid. 

You will also be eligible, subject to your continued employment by the Company and actual grant by the Compensation Committee, to participate in such
long-term incentive programs that are made available in the future to similarly situated executives at the Company. In particular, as currently contemplated by our long-term incentive program (which is subject to change), an employee at your level
would have been recommended to the Compensation Committee in March 2010 to receive long-term incentive awards with an aggregate target value (as determined by the Compensation Committee) of $330,000 (subject to three-year cliff vesting and
applicable performance objectives). In light of your subsequent start date, you are expected to be eligible to be recommended to receive an award in 2010 with a pro rated target value to reflect your mid-year hire (based on the number of full
months remaining in the year as of your actual start date divided by 12). Any such awards would be subject to actual grant by the Compensation Committee, would be pursuant to the applicable plan document and would be subject to terms and conditions
established by the Compensation Committee in its sole discretion as detailed in separate agreement(s) you would receive after any award is actually made. 

 If, prior to the one-year anniversary of your actual start date (the “Reference Date”), your
employment is involuntarily terminated by the Company for any reason other than Cause, the Company will pay you severance in an amount equal to your base salary plus your target annual bonus, each as then in effect (the “Severance
Amount”). Sixty percent (60%) of the Severance Amount would be payable to you on the six-month anniversary of the date on which your employment so terminated (the “Termination Date”) and the remaining 40% of the Severance Amount
would be payable to you on the twelve-month anniversary of the Termination Date. Payment of any Severance Amount will be subject first to your execution and the effectiveness of a severance agreement to the Company’s satisfaction, which
agreement will include, for example, non-competition (limited to one year), non-solicitation, non-disparagement, confidentiality and further cooperation commitments by you as well as a general release by you of the Company and its affiliates (and
their respective directors, officers and employees). 
 For purposes of this letter, “Cause” means, as determined by the
Company, your (i) commission of an act of fraud, embezzlement, misappropriation, willful misconduct, gross negligence or breach of fiduciary duty against the Company or an affiliate thereof, or (ii) commission of any act or omission that
results in a conviction, plea of no contest, plea of nolo contendere, or imposition of unadjudicated probation for any crime involving moral turpitude or any felony. 

You will also be eligible for our standard benefits program. Participation in our benefits program is subject to meeting the relevant eligibility
requirements, payment of the required premiums, and the terms of the plans themselves. We currently offer medical, dental, vision, life, and accidental death and dismemberment insurance; short- and long-term disability insurance; a savings and
retirement program; and ten (10) paid holidays. As we discussed, you will be eligible for four (4) weeks vacation to be accrued and used in accordance with Company policy. 

The Company may withhold from any payment due to you any taxes required to be withheld under any law, rule or regulation. If and to the extent that any
payment or benefit under this letter or any plan or arrangement of the Company or its affiliates, is determined by the Company to constitute “non-qualified deferred compensation” subject to Section 409A of the Internal Revenue Code of
1986 (the “Code”) (“Section 409A”) and is payable to you by reason of your termination of employment, then (a) such payment or benefit shall be made or provided to you only upon a “separation from
service” as defined for purposes of Section 409A under applicable regulations (a “Separation from Service”) and (b) if you are a “specified employee” (within the meaning of Section 409A and as
determined by the Company), such payment or benefit shall not be made or provided before the date that is six months after the date of your Separation from Service (or your earlier death). Any amount not paid in respect of the six month period
specified in the preceding sentence will be paid to you in a lump sum after the expiration of such six month period. Any such payment or benefit shall be treated as a separate payment for purposes of Section 409A to the extent Section 409A
applies to such payments. 

 This letter reflects the entire understanding and agreement of you and the Company with respect to the
subject matter hereof and supersedes any prior understandings or agreements. 
 Unless the Company publicly discloses this letter, you agree to
keep this letter and its terms strictly confidential provided that you are authorized to disclose this letter and its terms to your immediate family members and your legal, financial and tax advisers and, with prior notice to the Company, as may be
required by law. 
 This letter does not constitute a guarantee of employment or benefits for any definite period. You or the Company may
terminate your employment at any time, with or without notice, liability or cause. To the extent permitted by law, you and the Company waive any and all rights to a jury trial with respect to any matter relating to this letter. 

This letter will be governed by and construed in accordance with the law of the State of New York applicable to contracts made and to be performed
entirely within that State. 
 This letter will automatically expire and be of no further force and effect on the earlier of
(i) May 7, 2010 if it is not acknowledged by you below prior to such date or (ii) the Reference Date (other than with respect to any severance obligations owed to you in accordance with this letter as of that date). Once again, we are
all most enthusiastic about the prospect of your joining the Company and having you join our team. 
  

	
	Sincerely,
	
	/s/ Robert Pollichino
	Bob Pollichino
	 Executive Vice President and

Chief Financial Officer

	Madison Square Garden, Inc.

  

	
	
	Accepted and Agreed:
	
	/s/ Robert J. Lynn
	Robert J. Lynn

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