Document:

Exhibit 10.2

 

REGISTRATION RIGHTS AGREEMENT

 

This Registration Rights Agreement
(this "Agreement") is made and entered into as of March ___, 2017 between JAKKS PACIFIC, INC., a Delaware corporation
(the "Company"), and HONGKONG MEISHENG CULTURE COMPANY LTD., a company incorporated in Hong Kong (the "Investor").

 

The parties to this Agreement, intending to be legally
bound hereby, agree as follows:

 

1. Definitions.
As used in this Agreement, the following terms shall have the following meanings:

 

"Affiliate" has
the meaning ascribed to that term in Rule 1-02 of Regulation S-X promulgated under the Securities Act.

 

"Common Stock" means
common stock of the Company.

 

"Effective Date"
means the date of this Agreement set forth above.

 

"Exchange Act" means
the Securities Exchange Act of 1934, as amended from time to time.

 

“Holder” means
any Person that holds Registrable Securities.

 

"Initiating Holder" means the
Holder(s) that holds at least 750,000 (as adjusted for split, reverse splits or similar transactions) shares of Common Stock that
are Registrable Securities.

 

"Person" means an individual,
partnership, corporation, trust or unincorporated organization, or a government or agency or political subdivision thereof.

 

"Prospectus" means the prospectus
included in any Registration Statement, as amended or supplemented by any prospectus supplement and by all other amendments, and
supplements to such prospectus, including post-effective amendments and all information incorporated by reference in such prospectus.

 

"Registrable Securities"
means any shares of Common Stock held by the Investor or any of its Affiliates, permitted transferee or assigns; provided,
however, that shares of Common Stock that are Registrable Securities shall cease to be Registrable Securities upon the sale
thereof pursuant to an effective Registration Statement or pursuant to Rule 144 (or successor rule) under the Securities Act; and
provided, further, that the Company shall have no obligation hereunder to register any Registrable Securities of
a Holder if the Company shall deliver to that Holder an opinion of counsel satisfactory to such Holder and its counsel (whose approval
shall not be unreasonably withheld) to the effect that the sale or disposition of all of the Registrable Securities does not require
registration under the Securities Act for a sale or disposition in a single public sale, and offers to remove any and all legends
restricting transfer from the certificates evidencing such Registrable Securities in connection with any such sale.

 

"Registration Expenses" means
all registration and filing fees, fees with respect to filings required to be made with the Financial Industry Regulatory Authority
(“FINRA”), the New York Stock Exchange (the "NYSE"), the Nasdaq Stock Market or any other exchange or market
in which Registrable Securities are to be quoted or listed for trading, fees and expenses of compliance with securities or blue
sky laws, printing expenses, messenger, telephone and distribution expenses associated with the preparation and distribution of
any Registration Statement, any Prospectus, and amendments or supplements thereto, and any other documents relating to the performance
of and compliance with this Agreement, all fees and expenses associated with the listing of any Registrable Securities on any securities
exchange or exchanges, and fees and disbursements of counsel for the Company and its independent certified public accountants and
the fees and expenses of other persons retained by the Company, but specifically excluding any Selling Expenses.

 

    	 	 	 

     

    

 

"Registration Statement" means
any registration statement of the Company filed under the Securities Act including the Prospectus forming a part thereof, amendments
and supplements to such Registration Statement, including post-effective amendments, and all exhibits to and all information incorporated
by reference in such Registration Statement.

 

"SEC" means the Securities and Exchange
Commission.

 

"Securities Act" means the Securities
Act of 1933, as amended from time to time.

 

"Selling Expenses"
means, with respect to any Holder, underwriting discounts, selling commissions and stock transfer or documentary stamp taxes, if
any, applicable to any Registrable Securities registered and sold by such Holder, and all fees and disbursements of any
counsel for such holder or any underwriter or sales agent retained by a Holder.

 

"Selling Holders" means the Holders
participating in any offering effected pursuant to a Registration Statement filed by the Company.

 

2. Securities
Subject to this Agreement. The only securities entitled to the benefits of this Agreement are the Registrable Securities.

 

3. Registration
of Registrable Securities.

 

3.1 Post-Closing
Registration

 

(a) The
Company shall file with the SEC a Registration Statement in accordance with the provisions of the Securities Act for the offering
and sale of the Registrable Securities within forty-five (45) days of the date hereof (the “Filing Deadline”). A registration
pursuant to this Subsection 3.1(a) shall be on such appropriate registration form of the SEC as shall (i) be selected by the Company,
and (ii) shall permit the disposition of the Registrable Securities in accordance with the intended method or methods of disposition
specified by the Initiating Holder. No Holder shall be named as an “underwriter” in such Registration Statement without
such Holder’s prior written consent unless required by law.

 

(b) The
Company shall use its reasonable best efforts in having such Registration Statement become effective as soon as practicable after
its filing and in any event no later than forty-five (45) days after the filing of such Registration Statement and then cause it
to remain effective and in compliance with the provisions of the Securities Act with respect to the disposition of all Registrable
Securities covered by such Registration Statement until such time as all of such Registrable Securities have been disposed of in
accordance with the intended methods of disposition by the Selling Holders thereof set forth in such Registration Statement or
such earlier date that such Registrable Securities can be disposed of without restriction under Rule 144 (the “Effectiveness
Period”). The Company further agrees to supplement or make amendments to the Registration Statement, if required by the rules,
regulations or instructions applicable to the registration form utilized by the Company or by the Securities Act or rules and regulations
thereunder.

 

3.2 Demand
Registration

 

(a) Form
S-1 Demand. If, at any time after the Filing Deadline and prior to the expiration of the Effectiveness Period, (x) a Registration
Statement covering the sale of all of the Registrable Securities is not then effective and available for sales thereof by the Holders,
(y) the Company is not eligible to use a Form S-3 registration statement, and (z) the Company receives a request from the Initiating
Holder that the Company file a Form S-1 registration statement with respect to the Registrable Securities then outstanding, then
the Company shall (x) within ten (10) days after the date such request is given, give notice thereof (the “Demand Notice”)
to all Holders other than the Initiating Holders; and (y) as soon as practicable, and in any event within forty-five (45) days
after the date such request is given by the Initiating Holders, file a Form S-1 registration statement under the Securities Act
covering all Registrable Securities that the Initiating Holders requested to be registered and any additional Registrable Securities
requested to be included in such registration by any other Holders, as specified by notice given by each such Holder to the Company
within twenty (20) days of the date the Demand Notice is given, and in each case, subject to the limitations of Subsections 3.2(c)
and 3.4(a).

 

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(b) Form
S-3 Demand. If, at any time after the Filing Deadline and prior to the expiration of the Effectiveness Period, (x) a Registration
Statement covering the sale of all of the Registrable Securities is not then effective and available for sales thereof by the Holders,
(y) the Company is eligible to use a Form S-3 registration statement, and (z) the Company receives a request from the Initiating
Holder that the Company file a Form S-3 registration statement with respect to the outstanding Registrable Securities of such Holders
having an anticipated aggregate offering price, net of Selling Expenses, of at least $3 million, then the Company shall (i) within
ten (10) days after the date such request is given, give a Demand Notice to all Holders other than the Initiating Holders; and
(ii) as soon as practicable, and in any event within thirty (30) days after the date such request is given by the Initiating Holders,
file a Form S-3 registration statement under the Securities Act covering all Registrable Securities requested to be included in
such registration by any other Holders, as specified by notice given by each such Holder to the Company within fifteen (15) days
of the date the Demand Notice is given, and in each case, subject to the limitations of Subsections 3.2(c) and 3.4(a).

 

(c) Notwithstanding
the foregoing obligations, if the Company furnishes to Holders requesting a registration pursuant to this Subsection 3.2 a certificate
signed by the Company’s chief executive officer stating that in the good faith judgment of the Company’s Board of Directors
it would be materially detrimental to the Company and its stockholders for such registration statement to either become effective
or remain effective for as long as such registration statement otherwise would be required to remain effective, because such action
would (i) materially interfere with a significant acquisition, corporate reorganization, or other similar transaction involving
the Company or other material transaction then pending or in progress; (ii) require premature disclosure of material information
that the Company has a bona fide business purpose for preserving as confidential; or (iii) render the Company unable to comply
with requirements under the Securities Act or Exchange Act, then the Company shall have the right to defer taking action with respect
to such filing, and any time periods with respect to filing or effectiveness thereof shall be tolled correspondingly, for a period
of not more than one hundred and eighty (180) days after the request of the Initiating Holders is given; provided, however, that
the Company shall not register any securities for its own account or that of any other stockholder during such one hundred and
eighty (180) day period other than pursuant to (i) a registration relating to the sale of securities to employees of the Company
or a subsidiary pursuant to a stock option, stock purchase, or similar plan; (ii) a registration on any form that does not include
substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable
Securities; or (iii) a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of
debt securities or exercise of the warrant currently outstanding that are also being registered (collectively, the “Excluded
Registrations”).

 

(d) The
Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Subsection 3.2(a) (i) during
the period that is sixty (60) days before the Company’s good faith estimate of the date of filing of, and ending on a date
that is ninety (90) days after the effective date of, a Company-initiated registration, provided that the Company is actively employing
in good faith commercially reasonable efforts to cause such registration statement to become effective; (ii) after the Company
has effected two registrations pursuant to Subsection 3.2(a); or (iii) if the Initiating Holders propose to dispose of shares of
Registrable Securities that may be immediately registered on Form S-3 pursuant to a request made pursuant to Subsection 3.2(b).
The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Subsection 3.2(b),
(i) during the period that is thirty (30) days before the Company’s good faith estimate of the date of filing of, and ending
on a date that is ninety (90) days after the effective date of, a Company-initiated registration, provided that the Company is
actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; or (ii)
if the Company has effected two (2) registrations pursuant to Subsection 3.2(b) within the twelve (12) month period immediately
preceding the date of such request. A registration shall not be counted as “effected” for purposes of this Subsection
3.2(d) until such time as the applicable registration statement has been declared effective by the SEC, unless the Initiating Holders
withdraw their request for such registration, elect not to pay the registration expenses therefor, and forfeit their right to one
demand registration statement pursuant to Subsection 3.2(a), in which case such withdrawn registration statement shall be counted
as “effected” for purposes of this Subsection 3.2(d).

 

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3.3 Piggyback
Registration.

 

If, at any time after the Filing Deadline
and prior to the expiration of the Effectiveness Period, the Company proposes to register (including, for this purpose, a registration
effected by the Company for stockholders other than the Holders) any of its securities under the Securities Act in connection with
the public offering of such securities solely for cash (other than in an Excluded Registration), the Company shall, at such time,
promptly give each Holder notice of such registration. Upon the request of each Holder given within twenty (20) days after such
notice is given by the Company, the Company shall, subject to the provisions of Subsection 3.4(b), cause to be registered all of
the Registrable Securities that each such Holder has requested to be included in such registration. The Company shall have the
right to terminate or withdraw any registration initiated by it under this Subsection 3.3 before the effective date of such registration,
whether or not any Holder has elected to include Registrable Securities in such registration. The expenses (other than Selling
Expenses) of such withdrawn registration shall be borne by the Company in accordance with Section 5.

 

3.4 Underwriting
Requirements

 

(a) In
any registration make pursuant to Subsection 3.2, if any of the Registrable Securities are to be sold in an underwritten offering,
the investment banker or investment bankers and manager or managers that will administer the offering will be selected by the holders
of a majority of the Registrable Securities included in such offering; provided that their selection of such investment bankers
and managers is subject to consent of the Company, not to be unreasonably withheld. Notwithstanding any other provision of this
Agreement, in any registration make pursuant to Subsection 3.2, if the managing underwriter(s) advise(s) the Initiating Holder
in writing that marketing factors require a limitation on the number of shares to be underwritten, then the Initiating Holder shall
so advise all Holders that otherwise would be underwritten pursuant hereto, and the number of Registrable Shares that may be included
in the underwriting shall be allocated among such Holders, including the Initiating Holder, in proportion (as nearly as practicable)
to the number of Registrable Shares owned by each Holder or in such other proportion as shall mutually be agreed to by all such
Selling Holders; provided, however, that the number of Registrable Shares held by the Holders to be included in such underwriting
shall not be reduced unless all other securities are first entirely excluded from the underwriting. In connection with such an
underwritten offering, the Company shall enter into and perform its obligations under an underwriting agreement, in customary form,
with the underwriter(s) of such offering and the Company shall comply with all customary requests by such underwriter(s), including,
but not limited to, the delivery of a legal opinion, negative assurance letter and comfort letter, providing due diligence materials
as reasonably requested by the underwriter(s).

 

(b) In
connection with any offering involving an underwriting of the Company’s securities, the Company shall not be required to
register the Registrable Securities of a Holder under Subsection 3.3 unless such Holder’s Registrable Securities are included
in the underwritten offering and such Holder enters into an underwriting agreement in customary form with the underwriter or underwriters
of internationally recognized standing selected by the Company and setting forth such terms for the underwritten offering as have
been agreed upon between the Company and the underwriters. In the event the underwriters advise the Holders in writing that market
factors (including the aggregate number of Registrable Securities requested to be registered, the general condition of the market,
and the status of the persons proposing to sell securities pursuant to the registration) require a limitation of the number of
Registrable Securities to be underwritten, the underwriters may exclude any or all of the Registrable Securities requested to be
registered but only after first excluding all other securities (except for securities sold for the account of the Company) from
the registration and underwriting. To facilitate the allocation of shares in accordance with the above provisions, the Company
or the underwriters may round the number of shares allocated to Investor to the nearest one hundred (100) shares.

 

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4. Registration
Procedures.

 

In connection with the Company's
obligations under Section 3, the Company shall use all reasonable efforts to effect such registration to permit the sale of such
Registrable Securities in accordance with the intended method or methods of distribution thereof, and pursuant thereto the Company
shall as expeditiously as practicable:

 

(a) prepare
and file with the SEC, as soon as practicable and within the applicable timeline specified in Section 3, a Registration Statement
on an appropriate registration form, which Registration Statement shall comply as to form in all material respects with the requirements
of the applicable form and include or incorporate by reference all financial statements required by the SEC to be filed therewith
or incorporated by reference therein, and in either case use all reasonable efforts to cause such Registration Statement to become
effective and remain effective in accordance with Subsection 3.1(b); provided, however, that before filing a Registration
Statement or Prospectus or any amendment or supplement thereto, including information incorporated by reference after the initial
filing of the Registration Statement, the Company shall furnish to one firm of counsel for the holders of the Registrable Securities
covered by such Registration Statement copies of all such documents in substantially the form proposed to be filed (including,
upon request, any and all exhibits thereto), which documents shall be subject to the reasonable and prompt review of such holders
and underwriters;

 

(b) prepare
and file with the SEC such amendments and post-effective amendments to such Registration Statement as may be necessary to keep
the Registration Statement effective for the applicable period, or such shorter period which shall terminate when all Registrable
Securities covered by such Registration Statement have been sold; cause the Prospectus to be supplemented by any required Prospectus
supplement, and to be filed pursuant to Rule 424 under the Securities Act; and otherwise take all such actions as may be necessary
to cause the Registration Statement to comply with the provisions of the Securities Act with respect to the disposition of all
securities covered by such Registration Statement during the applicable period in accordance with the intended method or methods
of distribution by the Selling Holders set forth in such Registration Statement or supplement to the Prospectus;

 

(c) notify
the Selling Holders promptly, and (if requested by any such person) confirm such advice in writing promptly, (i) when the Prospectus
or any Prospectus supplement or post-effective amendment to the Registration Statement has been filed, and, with respect to such
Registration Statement or any post-effective amendment thereto, when the same becomes effective, (ii) of any comments of the SEC
or any state securities authority with regard to the Registration Statement and of any request by the SEC or any state securities
authority for amendments or supplements to the Registration Statement or the Prospectus or for additional information, (iii) of
the issuance by the SEC or any state securities authority of any stop order suspending the effectiveness of the Registration Statement
or the initiation of any proceedings for that purpose, (iv) of the receipt by the Company of any notification with respect to the
suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of
any proceeding for such purpose, and (v) of the happening of any event or the discovery of any facts that makes any statement made
in the Registration Statement, the Prospectus or any document incorporated therein by reference untrue in any material respect
or which requires the making of any changes in the Registration Statement, the Prospectus or any document incorporated therein
by reference in order to make the statements therein not contain an untrue statement of a material fact or omit to state any material
fact necessary to make the statements therein not misleading;

 

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(d) make
every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of the Registration Statement at the
earliest possible time;

 

(e) unless
available for review on the SEC’s or the Company’s internet website, furnish to each Selling Holder, without charge,
at least one copy of the Registration Statement, any amendment (including any post-effective amendment) thereto, including financial
statements and schedules, all Documents incorporated therein by reference and all exhibits (including those incorporated by reference);

 

(f) unless
available for review on the SEC’s or the Company’s internet website, deliver to each Selling Holder, without charge,
as many copies of the Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such persons
may reasonably request;

 

(g) prior
to any public offering of Registrable Securities, use the Company's reasonable efforts to (i) register or qualify or cooperate
with the Selling Holders and their counsel in connection with the registration or qualification of such Registrable Securities
for offer and sale under the state securities or blue sky laws of one (1) jurisdiction in the United States as the Selling Holder
reasonably requests in writing and (ii) do any and all other acts or things necessary or advisable to enable the disposition in
such jurisdiction of the Registrable Securities covered by the Registration Statement; provided that the Company shall not
be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which
would subject it to general service of process or taxation in any such jurisdiction where it is not then so subject;

 

(h) cooperate
with the Selling Holders to facilitate the timely preparation and delivery of certificates representing Registrable Securities
to be sold without any restrictive legends; and enable such Registrable Securities to be in such denominations and registered in
such names as the Selling Holders may request within two (2) business days of the later of the effective date of the Registration
Statement and the date a Selling Holder delivers its certificates with the restrictive legend;

 

(i)upon the occurrence of any event
contemplated by clause (v) of paragraph (c) above, prepare a supplement or post-effective amendment to the Registration Statement
or the related Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter
delivered to purchasers of the Registrable Securities, the Prospectus shall not contain an untrue statement of a material fact
or omit to state any material fact necessary to make the statements therein not misleading;

 

(j) use
all reasonable efforts to cause all Registrable Securities covered by the Registration Statement to be listed on each securities
exchange, if any, on which the Common Stock is then listed or on the Nasdaq Global Select Market, if the Common Stock is then traded
thereon;

 

(k) make
available for inspection by a representative of the Selling Holders, one firm of attorneys and one firm of accountants retained
by the Selling Holder or Holders, all financial and other records and all pertinent corporate documents and properties of the Company
as shall be reasonably requested by them, and cause the Company's officers, directors and employees to be reasonably available
for discussions with and to supply all information reasonably requested by any such representative, attorney or accountant in connection
with such Registration Statement; provided, that any records, information or documents shall be kept confidential by such persons
unless disclosure of such records, information or documents is required by applicable laws, rules and regulations, stock exchange
rules, or court or administrative order or becomes publicly available and if the Company so elects, need not be disclosed by the
Company unless each such person signs a confidentiality agreement reasonably satisfactory to the Company;

 

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(l) use
all reasonable efforts to comply with all applicable rules and regulations of the SEC and make generally available to its security
holders, as provided in Rule 158 or otherwise, an earnings statement satisfying the provisions of Section 11(a) of the Securities
Act;

 

(m) promptly
after the filing of any document which is to be incorporated by reference into the Registration Statement or Prospectus (after
initial filing of the Registration Statement), unless such document is available to be reviewed on the SEC’s or the Company’s
internet website, provide copies of such document to counsel to the Selling Holders and to the managing underwriter or underwriters,
if any; and

 

(n) otherwise
reasonably cooperate with the Selling Holders to carry out the intent of this Agreement.

 

It shall be a condition precedent
to the obligations of the Company to take any action pursuant to this Agreement with respect to the Registrable Securities of any
Initiating or Selling Holder that such Initiating or Selling Holder cooperates with the Company in preparing such registration.

 

Each Selling Holder agrees that upon receipt
of any notice from the Company of the happening of any event of the kind described in Section 4(c)(v) hereof, such holder shall
forthwith discontinue disposition of such Registrable Securities until such holder's receipt of the copies of the supplemented
or amended Prospectus contemplated by Section 4(i), or until it is advised in writing (the "Advice") by the Company that
the use of the Prospectus may be resumed, and has, unless such document is available to be reviewed on the SEC’s or the Company’s
internet website, received copies of any additional or supplemental filings which are incorporated by reference in the Prospectus,
and, if so directed by the Company, such holder shall deliver to the Company (at the Company's expense) all copies, other than
permanent file copies then in such holder's possession, of the Prospectus covering such Registrable Securities current at the time
of receipt of such notice.

 

5. Expenses
of Registration. All Registration Expenses incurred in connection with any registration commenced in accordance with Section
3 shall be borne by the Company; provided, however, that the Company shall not be required to pay for any expenses of any
registration proceeding begun pursuant to Section 3 if the registration is subsequently withdrawn at the request of the Initiating
Holder or Holders (in which case all Selling Holders shall bear such expense), unless Holders whose Registrable Securities constitute
a majority of the Registrable Securities then outstanding agree that such withdrawn registration shall constitute the registration
required by Section 3 hereof. All Selling Expenses relating to Registrable Securities registered on behalf of any person shall
be borne by such person.

 

6. Indemnification.
If any Registrable Securities are included in a Registration Statement under this Agreement:

  

(a) Indemnification
by Company. The Company shall indemnify and hold harmless, to the full extent permitted by law, each Selling Holder, its officers,
directors and employees and each person who controls such holder (within the meaning of the Securities Act) against all losses,
claims, damages, liabilities and expenses arising out of any untrue or alleged untrue statement of a material fact contained in
any Registration Statement (or amendment (including any post-effective amendment) or supplement thereto), Prospectus or preliminary
Prospectus or any amendment or supplement thereto, including all documents incorporated therein by reference, or any omission or
alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not
misleading and will reimburse each Holder and each person controlling such Holder for reasonable legal and other expenses reasonably
incurred in connection with investigating or defending any such claim, loss, damage, liability or action as incurred, except insofar
as such statements are made in reliance upon and in conformity with information furnished in writing to the Company by such holder
expressly for use therein or by such holder's failure to deliver a copy of the Registration Statement or Prospectus after the Company
has furnished such holder with a sufficient number of copies of the same. The indemnification required by this Section 6(a) shall
not apply to amounts paid in settlement of any such loss, claim, damage, liability or expense if such settlement is effected without
the consent of the Company (which consent shall not be unreasonably withheld).

 

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(b) Indemnification
by Holder of Registrable Securities. In connection with a Registration Statement, each holder of Registrable Securities covered
thereby shall furnish to the Company in writing such information as the Company reasonably requests for use in connection with
any Registration Statement (or amendment (including any post-effective amendment) or supplement thereto) or Prospectus (or any
amendment or supplement thereto) and shall indemnify and hold harmless, to the full extent permitted by law, the Company, its directors,
officers and employees and each person who controls the Company (within the meaning of the Securities Act) untrue or alleged untrue
statement of a material fact or any omission or alleged omission of a material fact required to be stated in the Registration Statement
(or amendment (including any post-effective amendment) or supplement thereto) or Prospectus or preliminary Prospectus (or any amendment
or supplement thereto), including all documents incorporated therein by reference or necessary to make the statements therein not
misleading, to the extent, but only to the extent, that such untrue statement is contained or omission was made in reliance upon
and in conformity with written information concerning such Holder furnished to the Company in writing expressly for inclusion therein.

 

(c) Conduct
of Indemnification Proceedings. Any person entitled to indemnification hereunder shall (i) give prompt notice to the indemnifying
party of any claim (including but not limited to the commencement of any action, suit, proceeding investigation or threat thereof
made in writing) with respect to which it seeks indemnification and (ii) permit such indemnifying party to assume jointly with
any other indemnifying party similarly noticed the defense of such claim with counsel reasonably satisfactory to the indemnified
party, provided, however, that any person entitled to indemnification hereunder shall have the right to employ separate
counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such
person unless (a) the indemnifying party has agreed to pay such fees or expenses, or (b) the indemnifying party shall have failed
to assume the defense of such claim and employ counsel reasonably satisfactory to such person, or (c) the named parties to any
such action, claim or proceeding (including any impleaded parties) include both such indemnified party and the indemnifying party
and, in the reasonable judgment of the indemnified party, based upon written advice of its counsel a conflict of interest may exist
between such person and the indemnifying party with respect to such claims as a result of the existence of legal defenses for such
person that are materially different from or in addition to those available to the indemnifying party (in which case, if the person
notifies the indemnifying party in writing that such person elects to employ separate counsel at the expense of the indemnifying
party, the indemnifying party shall not have the right to assume the defense of such claim on behalf of such person). If such defense
is not assumed by the indemnifying party, the indemnifying party shall not be subject to any liability for any settlement or consent
to judgment made without its consent (but if such consent is requested, such consent shall not be unreasonably withheld). No indemnified
party shall be required to consent to entry of any judgment or enter into any settlement which does not include as an unconditional
tern thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such
claim or litigation. An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be
obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect
to such claim, unless in the reasonable judgment of any indemnified party, after consultation with counsel, a conflict of interest
may exist between such indemnified party and any other of such indemnified parties or there may exist legal defenses for such indemnified
party that are materially different from or in addition to those available to the other indemnified parties with respect to such
claim, in which event the indemnifying party shall be obligated to pay the fees and expenses of such additional counsel or counsels.

 

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(d) Contribution.
If for any reason the indemnification provided for in the preceding clauses (a) and (b) is unavailable to an indemnified party
or insufficient to hold it harmless as contemplated by the preceding clauses (a) and (b), then the indemnifying party shall contribute
to the amount paid or payable by the indemnified party as a result of such loss, claim, damage or liability (i) in such proportion
as is appropriate to reflect the relative fault of the indemnified party and the indemnifying party, or (ii) if the allocation
provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect the relative benefits
received by the indemnified party and the indemnifying party as well as their relative fault and any other relevant equitable considerations.
The relative fault of the indemnified party and the indemnifying party shall be determined by reference to, among other things,
whether any such untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact
relates to information supplied by the indemnified party or the indemnifying party and each party's relative intent knowledge,
access to information and opportunity to correct or prevent such statement or omission. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty
of such fraudulent misrepresentation.

 

7. Current
Public Information. For so long as the Company is subject to the reporting requirements of Section 13 or 15 of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), the Company covenants that it will file the reports required to
be filed by it under the Securities Act and Section 13(a) or 15(d) of the Exchange Act and the rules and regulations adopted by
the SEC thereunder, and that if it ceases to be so required to file such reports, it will upon the request of any holder of Registrable
Securities (a) make publicly available such information as is necessary to permit sales pursuant to Rule 144 under the Securities
Act, (b) deliver such information to a prospective purchaser as is necessary to permit sales pursuant to Rule 144A under the Securities
Act, and (c) take such further action that is reasonable in the circumstances, in each case, to the extent required from time to
time to enable such holder to sell its Registrable Securities without registration under the Securities Act within the limitation
of the exemptions provided by (i) Rule 144 under the Securities Act, as such Rule may be amended from time to time, (ii) Rule 144A
under the Securities Act, as such Rule may be amended from time to time, or (iii) any similar rules or regulations hereafter adopted
by the SEC. Upon the request of any holder of Registrable Securities, the Company will deliver to such holder a written statement
as to whether it has complied with such requirements.

 

8. Holdback.
If so requested by the underwriters' representative or agent in connection with an offering of any securities covered by a registration
statement filed by the Company, each Selling Holder that has its securities included in a Registration Statement prepared pursuant
to this Agreement, to the extent such Holder's securities are actually included therein, shall not effect any public sale or distribution
of shares of Common Stock or any securities convertible into or exchangeable or exercisable for shares of Common Stock, including
a sale pursuant to Rule 144 under the Securities Act (except as part of such underwritten or agented registration), during the
90-day period beginning on, the date such offering of securities is priced, provided that such Holder is timely notified
of such effective date in writing by the Company or such underwriters' representative or agent. In order to enforce the foregoing
covenant the Company shall be entitled to impose stop-transfer instructions with respect to the Registrable Securities of each
such holder until the end of such period.

 

    	 	9	 

     

    

 

9. Miscellaneous.

 

(a) Amendments
and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented,
and waivers or consents to departures from the provisions hereof may not be given unless the Company has obtained the written consent
of holders of at least 80% of the Registrable Securities.

 

(b) Notices.
All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed effectively given: (a)
upon personal delivery to the party to be notified, (b) when sent by confirmed facsimile or e-mail if sent during normal business
hours of the recipient; if not, then on the next business day, (c) five (5) days after deposit with an internationally recognized
courier with written verification of receipt. All communications shall be sent to the Company and to the Investor at the addresses
for the Company and the Investor on the counterpart signature page(s) hereto (or at such other addresses as shall be specified
by notice given in accordance with this Section):

 

(i) if
to a holder of Registrable Securities, at the most current address given by such holder to the Company in accordance with the provisions
of this Section 9(b); and

 

(ii) if
to the Company, initially at JAKKS Pacific, Inc., 2951 28th St., Santa Monica, CA 90405, Attention: Stephen G. Berman, Chief Executive
Officer, and thereafter at such other address, notice of which is given in accordance with the Provisions of this Section 9(b).

 

(c) Successors
and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each
of the parties. Neither this Agreement, nor any of the parties' respective rights, or obligations hereunder may be assigned by
the Company or by the Investor.

 

(d) Counterparts.
This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.

 

(e) Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, applicable to
agreements made and to be performed in the State of Delaware without regard to principles of conflicts of laws.

 

(f) Severability.
Each provision of this Agreement shall be considered severable, and if for any reason any provision that is not essential to the
effectuation of the basic purposes of the Agreement is determined by a court of competent jurisdiction to be invalid or unenforceable
under existing or future applicable law, such invalidity shall not impair the operation of or affect those provisions of this Agreement
that are valid. In that case, this Agreement shall be construed so as to limit any term or provision so as to make it enforceable
or valid within the requirements of any applicable law, and in the event such term or provision cannot be so limited, this Agreement
shall be construed to omit such invalid or unenforceable provisions.

 

(g) Entire
Agreement. This Agreement is intended by the parties as a final expression of their agreement and intended to be a complete
and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein.
There are no representations, promises, warranties or undertakings, other than those set forth or referred to herein with respect
to the registration rights granted by the Company hereby. Upon the Effective Date, this Agreement supersedes all prior agreements
and understandings between the parties with respect to such subject matter, and cannot be changed or terminated orally.

 

    	 	10	 

     

    

 

(h) Construction.
As used in this Agreement, unless the context otherwise requires (i) references to "Sections" are to sections of this
Agreement, (ii) "hereof', "herein", "hereunder" and comparable terms refer to this Agreement in its entirety
and not to any particular part of this Agreement, (iii) the singular includes the plural and the masculine, feminine and neutral
gender each includes the other, (iv) "including" or "includes" shall be deemed to be followed by the phrase
"without limitation", and (v) headings of the various Sections and subsections are for convenience of reference only
and shall not be given any effect for purposes of interpreting this Agreement.

 

    	 	11	 

     

    

 

Witness the due execution hereof,
as of the Effective Date first above written, on behalf of the undersigned thereunto duty authorized.

  

	 	JAKKS PACIFIC, INC.	 
	 	 	 	 
	 	By:	 	 
		 	 	 
	 	Title:	 	 
	 	 	 	 
	 	Address for notices:  	 
	 	2951 28th Street	 
	 	Santa Monica, CA 90405	 

  

    	 	 	 

     

    

 

Witness the due execution hereof,
as of the Effective Date first above written, on behalf of the undersigned thereunto duty authorized.

  

	 	HONGKONG MEISHENG CULTURE COMPANY LTD.	 
	 	 	 	 
	 	By: 	 	 
	 	 	 	 
	 	Title:	 	 
	 	 	 	 
	 	Address for notices:Exhibit 10.3

 

 

 

JAKKS ANNOUNCES SALE OF $19.3 MILLION
OF COMMON STOCK TO

JOINT VENTURE PARTNER HONG KONG MEISHENG
CULTURE COMPANY LTD.

 

 

SANTA MONICA, Calif., March 15, 2017 – JAKKS Pacific,
Inc. (NASDAQ: JAKK) today announced that the Company has entered into an agreement with Hong Kong Meisheng Culture Company Ltd.
(“Meisheng”) to sell 3,660,891 million shares of the Company’s common stock to Meisheng for a total purchase
price of $19.3 million. The transaction is subject to approval by the shareholders of Meisheng’s parent company (Meisheng
Culture & Creative Corp., Ltd.), and regulatory filings in China by Meisheng.

 

Stephen Berman, JAKKS Chairman and Chief Executive Officer,
stated: “As a manufacturer of kids’ consumer products and toys, as well as animated content, we appreciate the significant
and broad possible new opportunities the Chinese market represents. We are pleased that Meisheng has made the investment decision
to acquire an equity stake in JAKKS. This should fortify our existing relationship as joint venture partners in two jointly owned
companies – one that distributes JAKKS products in China and the other that develops new animation content owned by JAKKS
and Meisheng. We expect the expanded relationship with Meisheng will put us in an advantageous position to realize greater opportunities
in China.”

 

“We are also pleased to announce that upon closing of
Meisheng’s share purchase, Xiaoqiang Zhao, Executive Director of Hong Kong Meisheng Culture Company Ltd. and Chairman of
the Board of its parent company Meisheng Culture & Creative Corp., Ltd., will join us as a member of JAKKS Board of Directors.
He will bring his experience and unique insights to the Board including serving as Chair of a specially created committee aimed
at commercial development in the Greater China region, and will be instrumental in helping us gain greater access to the Chinese
toy market.”

 

Xiaoqiang Zhao stated: “Meisheng Culture is one of the
leading companies in China’s IP industry through its own IP generation and partnerships with other companies. We have been
creating an IP operation and transformational platform consisting of consumer products, games and media, which centers on IP derivatives.
We believe we have unique advantages in the global IP industry, from creating, designing, manufacturing to distribution and retail
as well as other current and future platforms. Investing in JAKKS is an important factor in our global market strategy. We believe
this investment will contribute to Meisheng’s growth and impact in overseas markets. We are optimistic that we will be able
to help JAKKS expand its market share in Asia, and especially in China. I have had a long-term relationship with Stephen Berman
and a great relationship with JAKKS for more than a decade. Asia is an attractive market with lots of consumers with strong buying
power. Together with JAKKS, we look forward to bringing a better experience to consumers in Asia.”

 

“I am honored to be elected as a new member of JAKKS’
Board of Directors. I look forward to bringing my decades of experience in consumer goods to the Board and to further support JAKKS’
growth along with the other members of the Board.”

 

Meisheng announced in February 2017 that it acquired 1,387,647
shares of the Company’s common stock in open market transactions. In addition to the joint venture companies established
by Meisheng and JAKKS, Meisheng Culture & Creative Corp., Ltd. has for many years been a manufacturer for the Company.

 

     

     

    

 

About JAKKS Pacific, Inc.

JAKKS Pacific, Inc. (NASDAQ: JAKK) is a leading designer, manufacturer
and marketer of toys and consumer products sold throughout the world, with its headquarters in Santa Monica, California. JAKKS
Pacific’s popular proprietary brands include BIG-FIGSTM, XPV®, Max TowTM and Friends, Disguise®, Moose
Mountain®, Funnoodle®, Maui®, Kids Only!®; a wide range of entertainment-inspired products featuring premier licensed
properties; and C’est MoiTM, a skincare and performance make-up brand.   Through JAKKS Cares, the company’s
commitment to philanthropy, JAKKS is helping to make a positive impact on the lives of children.  Visit us at www.jakks.com and
follow us on Instagram (@jakkstoys), Twitter (@jakkstoys) and Facebook (JAKKS Pacific).

 

 

© 2017 JAKKS Pacific,
Inc. All rights reserved.

 

Forward Looking Statements

This press release may contain “forward-looking
statements” (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations,
estimates and projections about JAKKS Pacific's business based partly on assumptions made by its management. These statements are
not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore,
actual outcomes and results may differ materially from what is expressed or forecasted in such statements due to numerous factors,
including, but not limited to, those described above, changes in demand for JAKKS' products, product mix, the timing of customer
orders and deliveries, the impact of competitive products and pricing, and difficulties with integrating acquired businesses. The
“forward-looking statements” contained herein speak only as of the date on which they are made, and JAKKS undertakes
no obligation to update any of them to reflect events or circumstances after the date of this release.

 

# # #

	JAKKS CONTACTS:	 
	Sara Rosales Montalvo	Joel Bennett
	SaraRM@jakks.net	JoelB@jakks.net
	424-268-9363	310-455-6210

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