Document:

CONTINUATION AND EXTENSION OF TERM OF

EMPLOYMENT AGREEMENT BETWEEN 

JAKKS PACIFIC, INC. AND JOEL M. BENNETT

 

THIS AGREEMENT is entered into on February 18, 2014 by and between
Joel M. Bennett (“Executive”) and JAKKS Pacific, Inc., a Delaware corporation (“JAKKS” or the “Company”).

 

WHEREAS, Executive and the Company entered into an Employment
Agreement dated October 21, 2011 (the “Employment Agreement”); and

 

WHEREAS, the Term of the Employment Agreement expired on December
31, 2013 and Executive has continued to be employed by the Company as its Chief Financial Officer and Executive Vice President
thereafter, and

 

WHERAS, Executive and the Company wish to renew and continue
the Term of the Employment Agreement from January 1, 2014 and extend the Term as provided herein, and modify the Employment Agreement
in the manner set forth herein without modifying, changing or otherwise amending any other provisions of the Employment Agreement.

 

NOW, THEREFORE, in consideration of the mutual promises, representations
and warranties set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

 

1.     
Capitalized terms used and not defined herein have the respective meanings ascribed to them in the Employment Agreement.

 

2.     
Executive and Company agree that the Employment Agreement as modified hereby is deemed to have been renewed and continued
from January 1, 2014 without interruption and the Term of the Employment Agreement is extended to and including December 31, 2015,
subject to earlier termination on the terms and conditions provided in the Employment Agreement.

 

3.     
Executive and Company confirm that Executive’s Base Salary as of December 31, 2013 was $450,000 and shall be increased
to the annual rate of $460,000.00 as of January 1, 2014. Notwithstanding the provisions to the contrary of Section (a) of the Employment
Agreement there shall be no minimum annual increase in the annual rate of Executive’s Base Salary, and any increase in Executive’s
Base Salary shall require the approval of the Compensation Committee.

 

4.     
The reference in Section 15(e) and Section 16(c) of the Employment Agreement to “December 31, 2013” is replaced
with the words “the balance of the Term”.

 

5.     
Except as expressly set forth herein, all other terms and provisions of the Employment Agreement as amended shall remain
in full force and effect and unmodified hereby, and Executive shall be entitled to continue to receive all other benefits provided
thereunder.

 

[Balance Of This Page Deliberately Left
Blank Signature Page Follows]

 

    	 

    	 

    

 

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

 

	 	THE COMPANY:
	 	 	 
	 	JAKKS PACIFIC, INC.
	 	 	 
	 	By:	 
	 	 	Name: Stephen G. Berman
	 	 	Title: President and Chief Executive Officer

 

	 	Date:   	February 18, 2014
	 	 
	 	EXECUTIVE:
	 	 
	 	
	 	Joel M. BennettAMENDMENT TO EMPLOYMENT AGREEMENT

 

Amendment, dated as
of February 18, 2014 (the “Amendment”), to Employment Agreement, dated as of August 13, 2010 and effective as of July
1, 2010 (the “Original Agreement”), by and between WidePoint Corporation (the “Company”) and Steve L. Komar
(“Executive”), the term of which as previously extended on June 27, 2012 by the mutual option of the Company and Executive
as provided in the Original Agreement to a new term ending on June 30, 2013, and with such term being further extended on August
13, 2013 by the mutual option of the Company and Executive as provided in the Original Agreement to a new term ending on December
31, 2013 (collectively, the “Agreement”). Capitalized terms not otherwise defined herein shall have the meanings assigned
to such terms in the Agreement.

 

WHEREAS, the parties
desire to further amend the Agreement as set forth herein.

 

NOW, THEREFORE, in
consideration of the mutual covenants and undertakings herein contained, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto intending to be legally bound do hereby agree as follows:

 

1.Effective as
of January 1, 2014, Section 2 of the Agreement is amended to provide that the term of Executive’s employment under the Agreement
shall be extended to March 31, 2016; provided, however, that the Company shall have the option, in the sole discretion of the Company,
to terminate the Agreement as of March 31, 2015 by giving written notice to Executive on or before January 31, 2015.

 

2.Effective as
of January 1, 2014, Section 4 of the Agreement is amended to provide that the Base Salary of Executive shall be Two Hundred Sixty
Thousand Dollars ($260,000.00) per annum during the term of the Agreement.

 

3.Effective as
of January 1, 2014, Section 6(b) of the Agreement is amended by replacing it entirely with the following:

 

(b)If Executive’s
employment by the Company terminates for any reason other than as a result of a termination for Cause, or a voluntary resignation
by Executive without a Good Reason, then the Company shall pay Executive a lump sum severance payment in cash equal to the greater
of (A) the amount equal to twelve (12) months of the Executive’s Base Salary at the time of such termination, or (B) the
amount equal to the Executive’s Base Salary for the remainder of the term as if this Agreement had not been terminated; provided
that if employment terminates by reason of Executive’s death or disability, then Executive (or Executive’s estate,
if applicable) shall receive a one-time payment equal to the amount of Base Salary owed for the immediate twelve (12) months following
the death or disability event, or the remainder of the contractual term of the Agreement, whichever is less..

  

4Except as expressly
provided in this Amendment, all other terms, conditions and provisions of the Agreement remain unaltered and are in full force
and effect and are expressly hereby ratified and confirmed. The Agreement and this Amendment shall be read and construed as one
agreement.

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
the parties have executed this Amendment to the Agreement as of the date first written above.

 

	WIDEPOINT CORPORATION	 	EXECUTIVE	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:	 	 	 	 
	Name:	 	 	Steve L. Komar	 
	Title:	 	 	Individually	 

 

 

 

    	2AMENDMENT TO EMPLOYMENT AGREEMENT

 

Amendment, dated as
of February 18, 2014 (the “Amendment”), to Employment Agreement, dated as of August 13, 2010 and effective as of July
1, 2010 (the “Original Agreement”), by and between WidePoint Corporation (the “Company”) and James T. McCubbin
(“Executive”), the term of which as previously extended on June 27, 2012 by the mutual option of the Company and Executive
as provided in the Original Agreement to a new term ending on June 30, 2013, and with such term being further extended on August
13, 2013 by the mutual option of the Company and Executive as provided in the Original Agreement to a new term ending on December
31, 2013 (collectively, the “Agreement”). Capitalized terms not otherwise defined herein shall have the meanings assigned
to such terms in the Agreement.

 

WHEREAS, the parties
desire to further amend the Agreement as set forth herein.

 

NOW, THEREFORE, in
consideration of the mutual covenants and undertakings herein contained, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto intending to be legally bound do hereby agree as follows:

 

1.Effective as
of January 1, 2014, Section 2 of the Agreement is amended to provide that the term of Executive’s employment under the Agreement
shall be extended to March 31, 2016; provided, however, that the Company shall have the option, in the sole discretion of the Company,
to terminate the Agreement as of March 31, 2015 by giving written notice to Executive on or before January 31, 2015.

 

2.Effective as
of January 1, 2014, Section 4 of the Agreement is amended to provide that the Base Salary of Executive shall be Two Hundred Sixty
Thousand Dollars ($260,000.00) per annum during the term of the Agreement.

 

3.Effective as
of January 1, 2014, Section 6(b) of the Agreement is amended by replacing it entirely with the following:

 

(b)If Executive’s
employment by the Company terminates for any reason other than as a result of a termination for Cause, or a voluntary resignation
by Executive without a Good Reason, then the Company shall pay Executive a lump sum severance payment in cash equal to the greater
of (A) the amount equal to twelve (12) months of the Executive’s Base Salary at the time of such termination, or (B) the
amount equal to the Executive’s Base Salary for the remainder of the term as if this Agreement had not been terminated; provided
that if employment terminates by reason of Executive’s death or disability, then Executive (or Executive’s estate,
if applicable) shall receive a one-time payment equal to the amount of Base Salary owed for the immediate twelve (12) months following
the death or disability event, or the remainder of the contractual term of the Agreement, whichever is less..

  

4Except as expressly
provided in this Amendment, all other terms, conditions and provisions of the Agreement remain unaltered and are in full force
and effect and are expressly hereby ratified and confirmed. The Agreement and this Amendment shall be read and construed as one
agreement.

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
the parties have executed this Amendment to the Agreement as of the date first written above.

 

	WIDEPOINT CORPORATION	 	EXECUTIVE	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:	 	 	 	 
	Steve L. Komar	 	James T. McCubbin	 
	Chief Executive Officer	 	Individually	 

 

 

 

 

    	2

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