Document:

Exhibit

Exhibit 10.3

AMENDMENT TO INTERIM SERVICES AGREEMENT
THIS AMENDMENT to the Interim Services Agreement, dated November 8, 2015 (the “Agreement”) is made this 20th day of January, 2016 (effective as of January 1, 2016, the “Effective Date”), by and between Jason Industries, Inc. (“Company”) and Jeffry N. Quinn (“Quinn”).  
RECITALS
WHEREAS, on the Effective Date, Quinn will continue serving as the Chief Executive Officer of the Company on a non-interim basis; and
WHEREAS, the parties desire to amend the Agreement to reflect that Quinn is no longer providing service to the Company on an interim basis and to modify certain terms of his arrangement in connection therewith.  
NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows:
		
	1.
	As of the Effective Date, the Agreement is amended as follows:

		
	A.
	Section 1.01(a) is amended to read in its entirety as follows:

During the term of this Agreement, Quinn shall provide to the Company the non-exclusive services of Chief Executive Officer of the Company in accordance with the terms and provisions of this Agreement and shall continue to serve as Chairman of the Board.  Quinn will perform all duties normally associated with that of a Chief Executive Officer, including, without limitation, responsibility for the general management and control of the business and affairs of the Company and responsibility to keep the Board appropriately informed regarding the business and affairs of the Company.  In his capacity as the Chief Executive Officer of the Company, Quinn shall be subject to the oversight of the Board and shall report to the Board.  During the term of this Agreement, including any renewal periods thereof as set forth in Section 2, Quinn shall devote such time and effort as is reasonably necessary to fulfill the statutory and fiduciary duties of the Chief Executive Officer of the Company.

B.Section 2.01 is amended to read in its entirety as follows:
This Agreement shall commence effective as of November 8, 2015, and shall continue through December 31, 2016, unless the Agreement is terminated prior to the end of such term as provided in Section 2.02 below.  At the conclusion of the initial term, this Agreement shall automatically renew on a month-to-month basis, unless either party provides notice to the other of non-renewal at least thirty (30) days in advance of the first of any calendar month, or unless this Agreement is terminated as provided in Section 2.02 below.
		
	C.
	Section 2.02 is amended to read in its entirety as follows:

This Agreement may be terminated (i) by the Company at any time without Cause; (ii) immediately upon Quinn’s death, permanent and total disability, or resignation as the Chief Executive Officer; (iii) immediately by the Company for Cause; or (iv) upon the mutual written consent of the Company and Quinn.  

		
	D.
	Section 3.01 is amended to read in its entirety as follows:

In consideration of Services furnished by Quinn hereunder, the Company shall pay to Quinn a monthly fee in the amount of One Hundred Thousand Dollars ($100,000.00) through December 31, 2015, and effective January 1, 2016, a monthly fee in the amount of Sixty Thousand, Seven Hundred and Eight Dollars and Thirty-Three Cents ($60,708.33).  Quinn shall be paid his monthly fee in arrears on the 15th and last day of each month.  

In addition, commencing with the 2016 calendar year, Quinn will be eligible to receive an annual cash bonus (the “Bonus”) with respect to each calendar year or a portion thereof in the amount of one hundred percent (100%) of Quinn’s annual fees paid during such calendar year upon achievement of target-level performance (the “Target Bonus”).  The actual amount of any Bonus shall be determined pursuant to the annual bonus plan, which shall be determined by the Board.  All Bonuses shall be paid in the calendar year following the calendar year to which they relate at the same time bonuses are paid to senior executives of the Company, and the Company shall use commercially reasonable efforts to make payment of any such Bonus by March 15 of the calendar year following the calendar year to which such Bonus relates.  In the event this Agreement is terminated by the Company (for other than Cause) or due to the Company’s decision to not renew the Agreement, Quinn shall be entitled to receive (1) the Bonus earned for the most recently completed calendar year preceding the date of termination, if it is has not yet been paid, and (2) the Bonus for the calendar year in which the termination occurs, in an amount equal to the product of (x) the percentage of the days in the applicable calendar year through the date of termination and (q) the Bonus amount due for such year, based on the level of achievement of the performance goal(s) established for such year; in each case, payable at the time the Bonus is normally paid as set forth above.   The Company’s obligation to make the Bonus payments to Quinn as described herein shall survive the termination of this Agreement.

		
	E.
	The first sentence of Section 3.02 is amended, and a new second sentence is added to read as follows:

The Company shall reimburse Quinn for all reasonable expenses incurred by Quinn in the performance of the Services hereunder and all matters related thereto, including, but not limited to, reasonable relocation and temporary housing expenses in the Milwaukee, Wisconsin area (through March 31, 2016) and reasonable travel expenses to and from St. Louis or New York for the purposes of providing the Services hereunder.  In addition, Quinn will be reimbursed a lump sum of $75,000 to cover a portion of the costs associated with the subletting of his previous office.

		
	F.
	Section 5.04 is amended to read in its entirety as follows:

At all times during which Quinn is acting as the non-employee Chief Executive Officer of the Company, the Company shall purchase and maintain, at its own expense, directors and officers liability insurance providing coverage for Quinn in the same amount as for members of the Board in respect of acts and omissions of Quinn in his capacity as the Chief Executive Officer or as a director of the Company and occurring during Quinn’s service as the non-employee Chief Executive Officer or service as a member of the Board (or both), which coverage (to the extent otherwise maintained for members of the Board) 

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shall continue for so long as Quinn is subject to liability (or threatened claim of liability) for any act or omission otherwise covered by such insurance. These obligations shall survive the termination of this Agreement.

		
	2.
	Except as described above, in all other respects, the Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment to be effective on the Effective Date.

JASON INDUSTRIES, INC.

By:  /s/ Sarah Sutton                         
Name:  Sarah Sutton    
Its:  CFO

JEFFRY N. QUINN

/s/ Jeffry N. Quinn                                 
Jeffry N. Quinn

3Exhibit 10.1 

 

INDEMNIFICATION AGREEMENT

 

This agreement, dated as of ______________
 (this "Agreement"), is between MSC Industrial Direct Co., Inc., a New York corporation (the "Company"),
and ______________ (the "Indemnitee").

 

1.           DEFINITIONS.
In addition to terms defined elsewhere herein, the following terms have the following meanings when used in this Agreement:

 

(a)           "Affiliate" has the
meaning given to that term in Rule 405 under the Securities Act of 1933; provided, however, that for purposes of this Agreement
the Company and its subsidiaries will not be deemed to constitute Affiliates of Indemnitee.

 

(b)           "Claim" means any
threatened, pending or completed action, suit or proceeding (whether civil, criminal, administrative, arbitrative, investigative
or other), whether instituted by the Company or any other party (including, without limitation, any governmental entity), or any
inquiry or investigation, whether instituted by the Company or any other party (including, without limitation, any governmental
entity), that Indemnitee in good faith believes might lead to the institution of any such action, suit or proceeding.

 

(c)           "Expenses" means all
attorneys' and experts' fees, expenses and charges and all other costs, expenses and obligations paid or incurred in connection
with investigating, defending or participating (as a party, a witness or otherwise) in (including on appeal) or preparing to defend
or participate in any Claim.

 

(d)           "Indemnifiable Losses"
means any and all Expenses, damages, losses, liabilities, judgments, fines, penalties and amounts paid or payable in settlement
(including, without limitation, all interest, assessments and other charges paid or payable in connection with or in respect of
any of the foregoing) relating to, resulting from or arising out of any act or failure to act by the Indemnitee, or his or her
status as any person referred to in clause (i) of this sentence, (i) in his or her capacity as a director, officer, employee or
agent of the Company, any of its Affiliates or any other entity as to which the Indemnitee is or was serving at the request of
the Company as a director, officer, employee, member, manager, trustee, agent or any other capacity of another corporation, limited
liability company, partnership, joint venture, trust or other entity or enterprise, whether or not for profit and (ii) in respect
of any business, transaction or other activity of any entity referred to in clause (i) of this sentence.

 

    	 	 	 

     

    

 

2.           INDEMNIFICATION. The Company
will indemnify and hold harmless Indemnitee to the fullest extent permitted by the laws of the State of New York in effect on the
date hereof or as such laws may from time to time hereafter be amended to increase the scope of such permitted indemnification
(but in no case less than the extent permitted under the laws in effect as of the date hereof) against all Indemnifiable Losses
relating to, resulting from or arising out of any Claim. The failure by Indemnitee to notify the Company of such Claim will not
relieve the Company from any liability hereunder unless, and only to the extent that, the Company did not otherwise learn of the
Claim and such failure results in forfeiture by the Company of substantial defenses, rights or insurance coverage. Except as provided
in Sections 4 and 18, Indemnitee will not be entitled to indemnification pursuant to this Agreement in connection with any Claim
initiated by Indemnitee against the Company or any director or officer of the Company unless the Company has joined in or consented
to the initiation of such Claim.

 

3.           ADVANCEMENT OF EXPENSES. The
Indemnitee's right to indemnification in Section 2 of this Agreement shall include the right of Indemnitee to be advanced by the
Company any Expenses. If so requested by Indemnitee, the Company will advance within five business days of such request any and
all Expenses to Indemnitee which Indemnitee reasonably determines likely to be payable; provided, however, that Indemnitee will
return, without interest, any such advance which remains unspent at the final conclusion of the Claim to which the advance related;
and provided, further, that, except as provided in Section 18, all amounts advanced in respect of such Expenses shall be repaid
to the Company by Indemnitee if it shall ultimately be determined in a final judgment that Indemnitee is not entitled to be indemnified
for such Expenses.

 

4.           INDEMNIFICATION FOR ADDITIONAL
EXPENSES. Without limiting the generality or effect of the foregoing, the Company will indemnify Indemnitee against, and, if requested
by Indemnitee, will within five business days of such request advance to Indemnitee, any and all attorneys' fees and other Expenses
paid or incurred by Indemnitee in connection with any Claim asserted or brought by Indemnitee for (i) indemnification or advance
payment of Expenses by the Company under this Agreement or any other agreement or under any provision of the Company's by-laws
or certificate of incorporation now or hereafter in effect relating to Claims for Indemnifiable Losses and/or (ii) recovery under
any directors' and officers' liability insurance policies maintained by the Company, regardless of whether Indemnitee ultimately
is determined to be entitled to such indemnification, advance expense payment or insurance recovery, as the case may be.

 

5.           PARTIAL INDEMNITY. If Indemnitee
is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of any Indemnifiable
Loss but not for the total amount thereof, the Company will nevertheless indemnify Indemnitee for the portion thereof to which
Indemnitee is entitled. Moreover, notwithstanding any other provision of this Agreement, to the extent that Indemnitee has been
successful on the merits or otherwise in defense of any or all Claims relating in whole or in part to an Indemnifiable Loss or
in defense of any issue or matter therein, including, without limitation, dismissal without prejudice, Indemnitee will be indemnified
against all Expenses incurred in connection therewith. In connection with any determination as to whether Indemnitee is entitled
to be indemnified hereunder, there will be a presumption that Indemnitee is so entitled, and the burden of proof shall, to the
extent permitted by law, be on the Company to establish that Indemnitee is not so entitled.

 

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6.           NO OTHER PRESUMPTION. For purposes
of this Agreement, the termination of any Claim by judgment, order, settlement (whether with or without court approval) or conviction,
or upon a plea of nolo contendere or its equivalent, will not create a presumption that Indemnitee did not meet any particular
standard of conduct or have any particular belief or that a court has determined that indemnification is not permitted by applicable
law.

 

7.           NON-EXCLUSIVITY. The rights
of Indemnitee hereunder will be in addition to any other rights Indemnitee may have under the Company’s by-laws, the Company’s
certificate of incorporation, the substantive laws of the Company's jurisdiction of incorporation, any other contract or otherwise
(collectively, "Other Indemnity Provisions"); provided, however, that (i) to the extent that Indemnitee otherwise would
have any greater right to indemnification under any Other Indemnity Provision, Indemnitee will be deemed to have such greater right
hereunder and (ii) to the extent that any change is made to any Other Indemnity Provision which permits any greater right to indemnification
than that provided under this Agreement as of the date hereof, Indemnitee will be deemed to have such greater right hereunder.
The Company will not adopt any amendment to its by-laws or certificate of incorporation the effect of which would be to deny, diminish
or encumber Indemnitee's right to indemnification under this Agreement or any Other Indemnity Provision.

 

8.           INSURANCE. To the extent the
Company maintains an insurance policy or policies providing directors' and officers' liability insurance (the "D&O Insurance"),
Indemnitee will be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage
available for any director or officer of the Company. Notwithstanding the foregoing, the Company shall not be required to cover
the Indemnitee under its D&O Insurance to the same extent as other directors or officers of the Company, or at all, if the
Company determines in good faith that such insurance is not available or the premium costs (or increases in premium costs of other
directors or officers of the Company as a result of such coverage) for such insurance is materially disproportionate to the amount
of coverage provided.

 

9.           SUBROGATION. In the event of
payment under this Agreement, the Company will be subrogated to the extent of such payment to all of the related rights of recovery
of Indemnitee against other persons or entities (other than Indemnitee's successors). The Indemnitee will execute all papers reasonably
required to evidence such rights (all of Indemnitee's reasonable Expenses, including attorneys' fees and charges, related thereto
to be reimbursed by or, at the option of Indemnitee, advanced by the Company).

 

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10.           NO DUPLICATION. The Company
will not be liable under this Agreement to make any payment in connection with any Indemnifiable Loss made against Indemnitee to
the extent Indemnitee has otherwise actually received payment (net of Expenses incurred in connection therewith) under any insurance
policy, the Company’s by-laws or certificate of incorporation, Other Indemnity Provisions or otherwise of the amounts otherwise
indemnifiable hereunder, provided that, if Indemnitee for any reason is required to disgorge any payment actually received by him
or her, the Company shall be obligated to pay such amount to Indemnitee in accordance with the other
terms of this Agreement (i.e., disregarding the terms of
this Section 10).

 

11.           DEFENSE
OF CLAIMS. The Company will be entitled to participate in the defense (including, without limitation, the negotiation and approval
of any settlement) of any Claim in respect of which Indemnitee may seek indemnification from the Company hereunder or to assume
the defense thereof, with counsel reasonably satisfactory to the Indemnitee, provided that in the event that (i) the use of counsel
chosen by the Company to represent Indemnitee would present such counsel with an actual or potential conflict, (ii) the named parties
in any such Claim (including any impleaded parties) include both the Company and Indemnitee and Indemnitee shall conclude that
there may be one or more legal defenses available to him or her that are different from or in addition to those available to the
Company or (iii) any such representation by the Company would be precluded under the applicable standards of professional conduct
then prevailing, then Indemnitee will be entitled to retain separate counsel (but not more than one law firm plus, if applicable,
local counsel in respect of any particular Claim) at the Company's expense. Notwithstanding the preceding sentence, in any event
the Company shall be liable to Indemnitee under this Agreement for the reasonable costs of investigation and preparation for the
defense of any Claim (including, without limitation, appearing as a witness and reasonable fees and expenses of counsel in connection
therewith). The Company will not, without the prior written consent of the Indemnitee, effect any settlement of any threatened
or pending Claim that the Indemnitee is or could have been a party to unless such settlement solely involves the payment of money
and includes an unconditional release of the Indemnitee from all liability on any claims that are the subject matter of such Claim.

 

12.           SUCCESSORS
AND BINDING AGREEMENT. (a) The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation,
reorganization or otherwise) to all or substantially all of the business or assets of the Company (a "Successor"), by
agreement in form and substance satisfactory to Indemnitee and his or her counsel, expressly to assume and agree to perform this
Agreement in the same manner and to the same extent the Company would be required to perform if no such succession had taken place.
This Agreement will be binding upon and inure to the benefit of the Company and may be assigned to a Successor but will not otherwise
be assignable or delegatable by the Company.

 

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(b) This Agreement will inure to the
benefit of and be enforceable by the Indemnitee after he or she ceases to be a director or officer of the Company. This Agreement
will inure to the benefit of and be enforceable by the Indemnitee's personal or legal representatives, executors, administrators,
successors, heirs, distributees, legatees and other successors.

 

(c) This
Agreement is personal in nature and neither of the parties hereto will, without the consent of the other, assign or delegate this
Agreement or any rights or obligations hereunder except as expressly provided in Sections 12(a) and 12(b). Without limiting the
generality or effect of the foregoing, Indemnitee's right to receive payments hereunder will not be assignable, whether by pledge,
creation of a security interest or otherwise, other than by a transfer by the Indemnitee's will or by the laws of descent and distribution,
and, in the event of any attempted assignment or transfer contrary to this Section 12(c), the Company will have no liability to
pay any amount so attempted to be assigned or transferred.

 

13.           NOTICES.
For all purposes of this Agreement, all communications, including, without limitation, notices, consents, requests or approvals
required or permitted to be given hereunder, will be in writing and will be deemed to have been duly given (i) when hand delivered,
(ii) five business days after having been mailed by United States registered or certified mail,
return receipt requested, postage prepaid or (iii) one business day after having been sent for next-day delivery by a nationally
recognized overnight courier service, addressed to the Company (to the attention of the General Counsel of the Company) and to
the Indemnitee at the addresses shown on the signature page hereto or to such other address as any party may have furnished to
the other in writing and in accordance herewith, except that notices of changes of address will be effective only upon receipt.

 

14.           GOVERNING
LAW. The validity, interpretation, construction and performance of this Agreement will be governed by and construed in accordance
with the substantive laws of the State of New York, without giving effect to the principles of conflict of laws of such State.
Each party consents to non-exclusive jurisdiction of any New York state or federal court for purposes of any action, suit or proceeding
hereunder, waives any objection to venue therein or any defense based on forum non conveniens or similar theories and agrees that
service of process may be effected in any such action, suit or proceeding by notice given in accordance with Section 13.

 

15.           VALIDITY.
If any provision of this Agreement or the application of any provision hereof to any person or circumstance is held invalid, unenforceable
or otherwise illegal, the remainder of this Agreement and the application of such provision to any other person or circumstance
will not be affected, and the provision so held to be invalid, unenforceable or otherwise illegal will be reformed to the extent,
and only to the extent, necessary to make it enforceable, valid or legal.

 

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16.           GENERAL.
No provision of this Agreement may be waived, modified or discharged unless such waiver, modification or discharge is agreed to
in writing signed by Indemnitee and the Company. No waiver by either party hereto at any time of any breach by the other party
hereto or compliance with any condition or provision of this Agreement to be performed by such other party will be deemed a waiver
of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreements or representations,
oral or otherwise, expressed or implied with respect to the subject matter hereof have been made by either party that are not set
forth expressly in this Agreement. References to Sections
are to references to Sections of this Agreement.

 

17.           COUNTERPARTS.
This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original but all of which together
will constitute one and the same agreement.

 

18.           LEGAL
FEES AND EXPENSES. It is the intent of the Company that
the Indemnitee not be required to incur legal fees or other Expenses associated with the interpretation, enforcement or defense
of Indemnitee's rights under this Agreement by litigation or otherwise because the cost and expense thereof would substantially
detract from the benefits intended to be extended to the Indemnitee hereunder. Accordingly, without limiting the generality or
effect of any other provision hereof, if it should appear to the Indemnitee that the Company has failed to comply with any of its
obligations under this Agreement or in the event that the Company or any other person takes or threatens to take any action to
declare this Agreement void or unenforceable or institutes any litigation or other action or proceeding designed to
deny, or to recover from, the Indemnitee the benefits
provided or intended to be provided to the Indemnitee hereunder, the Company irrevocably authorizes the Indemnitee from time to
time to retain counsel of Indemnitee's choice, at the expense of the Company as hereafter
provided, to advise and represent the Indemnitee in connection with any such interpretation, enforcement or defense, including,
without limitation, the initiation or defense of any litigation or other legal action, whether by or against the Company or any
director, officer, stockholder or other person affiliated with the Company. Notwithstanding any existing or prior attorney-client
relationship between the Company and such counsel, the Company irrevocably consents to the Indemnitee's entering into an attorney-client
relationship with such counsel, and in that connection the Company and the Indemnitee agree that a confidential relationship
shall exist between
the Indemnitee and such counsel.
Without respect to whether the
Indemnitee prevails, in whole or in part, in connection with any of the foregoing, the Company will pay and be solely financially
responsible for any and all attorneys' and related fees and expenses incurred by the Indemnitee in connection with any of the foregoing.

 

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19.           RIGHT
OF INDEMNITEE TO INDEMNIFICATION UPON APPLICATION; PROCEDURE UPON APPLICATION. Except as provided in Section 3, any indemnification
under this Agreement shall be made as soon as practicable but in any event no later than 30 days after receipt of the written request
of the Indemnitee for such indemnification (such request to be accompanied by reasonable supporting documentation of the Indemnifiable
Losses), unless a determination is made within said 30 day period by (a) the Company’s Board of Directors, by a majority
vote of a quorum thereof consisting of directors who were not parties to such proceedings or (b) independent legal counsel in a
written opinion (which counsel shall be appointed if such a quorum is not obtainable), that the Indemnitee has not met the relevant
standards for indemnification set forth in this Agreement. In the case of either (a) or (b) above, the Company shall send prompt
written notice to the Indemnitee of such determination.

 

20.           INTERPRETIVE
MATTERS. No provision of this Agreement will be interpreted in favor of, or against, either of the parties hereto by reason of
the extent to which any such party or its counsel participated in the drafting thereof or by reason of the extent to which any
such provision is inconsistent with any prior draft hereof or thereof.

 

IN WITNESS WHEREOF, Indemnitee
has executed and the Company has caused its duly authorized representative to execute this Agreement as of the date first above
written.

 

 

	 	MSC INDUSTRIAL DIRECT CO., INC.
	 	 	 
	 	 	 
	 	By:                                                                             	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	 	 
	 	INDEMNITEE	 
	 	 	 
	 	                                                                                 	 
	 	Name:	 
	 	 	 
	 	Address:                                                                   	 
	 	 	 
	 	                                                                                 	 

 

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