Document:

Exhibit 10.1
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EXECUTION VERSION
CONFIDENTIAL
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Amendment No. 19 to the License Agreement
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This Amendment No. 19 ("Amendment No. 19"), effective as of February 23, 2022 ("Amendment Effective Date"), to the License Agreement dated as of November 1, 1994, by and between S&P Dow Jones Indices, LLC ("S&P")  and Cboe Exchange, Inc. ("CBOE"), as previously amended by Amendment No. 1 effective January 15, 1995, Amendment No. 2 effective April 1, 1998, Amendment No. 3 effective July 28, 2000, Amendment No. 4 effective October 27, 2000, Amendment No. 5 effective March 1, 2003, Amended and Restated Amendment No. 6 effective February 24, 2009 (which implemented "Addendum No. 1"), Amended and Restated Amendment No. 7 effective February 24, 2009, Amendment No. 8 effective January 9, 2005, Amendment No. 10 effective June 19, 2009, Amendment No. 11 effective April 29, 2010, Amendment No. 12 effective March 8, 2013, Amendment No. 13 effective December 21, 2017, and Amendment No. 14 effective December 20, 2018, Amendment No. 15 effective January 15, 2019, Amendment No. 16 effective April 1, 2020 Amendment No. 17 effective August 1, 2020 and Amendment No. 18 effective October 26, 2021(Amendment No. 9 effective April 23, 2007 having been terminated as of February 24, 2009), (the License Agreement, as so amended, the "Prior Agreement"). This Amendment No. 19 and the Prior Agreement shall hereafter be known as the "Agreement".
WHEREAS, the parties desire to modify the definitions of Mini-SPX Contract and Nano-SPX Contract. 
NOW THEREFORE, the parties agree as follows:
1.S&P and CBOE agree that paragraph 1(h) of the Prior Agreement is hereby amended to read in its entirety as follows:

(h)"Mini-SPX Contract" shall mean, with respect to the S&P 500 Index, the S&P 500 ESG Index or any of the Select Sector Indices, a Standardized Option Contract that is based on reduced index values that are calculated by multiplying the values of the index (as published by S&P) by a decimal value equal to 0.1, and then applying a multiplier of one hundred dollars ($100).
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2.S&P and CBOE agree that paragraph 1(r) of the Prior Agreement is hereby amended to read in its entirety as follows:

(r)"Nano-SPX Contract" shall mean, with respect to the S&P 500 Index, the S&P 500 ESG Index or any of the Select Sector Indices, a Standardized Option Contract that is based on reduced index values that are calculated by multiplying the values of the index (as published by S&P) by a decimal value equal to 0.1, and then applying a multiplier of one dollar ($1.00). 
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3.S&P consents to CBOE’s (and/or an affiliate’s on behalf of CBOE) past and future calculation, distribution and use of indexes that are 1/10th of the value of the S&P 500 (the “Mini Indexes”) as the basis for Standardized Option Contracts defined in the License Agreement as Mini-SPX Contracts and Nano-SPX Contract; provided, however, such calculation shall be (i) subject to CBOE’s entry into an Amendment to the Amended and Restated Calculation Agreement dated June 20, 2019 between S&P and Cboe Global Indices, LLC (as successor to Cboe Exchange, Incorporated) with respect to the calculation of the Mini Indexes; (ii) CBOE’s entry into Amendment No. 5 to the Index Value Distribution Agreement dated March 23, 2010, as amended, between S&P and Cboe Data Services, LLC with respect to the distribution of the Mini Indexes; (iii) CBOE’s acknowledgement and agreement that S&P shall be the Benchmark Administrator of such Mini Indexes (as that term is defined under 

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CONFIDENTIAL
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the IOSCO Principles for Financial Benchmarks and the European Union Benchmark Regulation) and (iv) CBOE’s entry into Amendment No. 1 to the Amended & Restated Calculation Agreement dated June 20, 2019, which includes, without limitation,S&P’s ongoing right to prospectively terminate CBOE’s right to calculate the Mini Indexes upon S&P’s assumption of calculation of the Mini Indexes upon at least ninety (90) days’ notice to CBOE.
4.Terms that are used in this Amendment No. 19 but not modified or otherwise redefined herein shall have the respective meanings set forth in the Prior Agreement.

The terms and conditions of this Amendment No. 19 are acknowledged and agreed to:
	CHICAGO EXCHANGE, INC.
	S&P DOW JONES INDICES, LLC 

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	Signature:
	/s/ John F. Deters
	Signature:
	/s/ Bruce Schachne 

	Name:
	John F. Deters
	Name:
	Bruce Schachne

	Title:
	EVP, CSO
	Title:
	Chief Commercial Officer

	Date:
	February 24, 2022
	Date:
	3/7/2022

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CONFIDENTIAL
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                                            Exhibit 10.2
Griffon Corporation Director Compensation Program
(adopted as of March 3, 2022)

Each member of the Board of Directors (the “Board”) of Griffon Corporation (the “Company”) who is not an employee of the Company (each a “Non-employee Director”) shall receive compensation for such person’s services as a member of the Board as outlined in this Director Compensation Program.

Cash Compensation

Annual Retainer Fees

•Annual retainer fee in the amount of $70,000
•Additional annual retainer fee for the Chairmen of the following Committees:
◦Audit – $20,000
◦Compensation – $17,500
◦Finance – $15,000
◦Nominating and Corporate Governance – $15,000
•Additional annual retainer fee in the amount of $25,000 for the Lead Independent Director

Meeting Fees

•Fee in the amount of $1,500 for attending any meeting of the Board
•Fee in the amount of $2,500 for attending any meeting of the Audit Committee
•Fee in the amount of $1,500 for attending any meeting of any committee other than the Audit Committee

Equity Compensation

Following election to the Board each year at the Annual Meeting of Shareholders (“AGM”), each Non-employee Director shall be awarded a grant of restricted shares with a value of $100,000 (the “RS Dollar Amount”).  If a Non-employee Director becomes a member of the Board other than as a result of being elected at the AGM, such Non-employee Director shall be awarded a grant of restricted shares with a value based on the pro-rata portion of the RS Dollar Amount equal to the difference between 365 and the number of days elapsed since the last AGM as of the date such Non-employee Director becomes a member of the Board, divided by 365. All restricted shares granted to a Non-employee Director shall vest on the first anniversary of the date of grant.  If service as a director terminates as a result of (i) death, (ii) disability, (iii) the failure of the Company to nominate such director for re-election to the Board, (iv) the failure of such director to be re-elected to the Board after being nominated for re-election, or (v) the occurrence of a change in control, all restricted shares shall immediately vest.

The number of restricted shares to be granted annually shall be determined by dividing the RS Dollar Amount (or a pro rata portion of such amount, as appropriate) by the closing price of the Company’s common stock on the New York Stock Exchange (or, if not the New York Stock Exchange, the principal exchange on which the Company’s common stock is traded) on the date of grant. The RS Dollar Amount shall be subject to the review of the Board from time to time.Document

Exhibit 10.4

AMENDMENT NO. 3 TO EMPLOYMENT AGREEMENT

AMENDMENT NO. 3 TO THE EMPLOYMENT AGREEMENT (this “Amendment”) made as of April 28, 2022 by and between GRIFFON CORPORATION, a Delaware corporation (hereinafter “Griffon”) and RONALD J. KRAMER (hereinafter “Kramer”).
WITNESSETH:
WHEREAS, Griffon and Kramer entered into that certain Employment Agreement, dated as of March 16, 2008, which Employment Agreement was amended pursuant to that certain Amendment No. 1 to Employment Agreement entered into between Griffon and Kramer as of February 3, 2011 and that certain Amendment No. 2 to Employment Agreement as of December 12, 2013 (hereinafter, collectively, the “Employment Agreement”).
NOW, THEREFORE, the parties hereto agree to amend the Employment Agreement as follows, effective as of the date hereof.
1.Section 9(f)(ii) shall be deleted in its entirety and replaced with the following: 
“(ii) a pro-rata portion of the higher of (A) the actual bonus that Kramer received for the most recently completed Fiscal Year; or (B) the Target Bonus, to be paid as soon as administratively feasible following the date on which the release becomes effective, and in any event within ten (10) days thereafter; and”
2.The parties hereby agree that except as specifically provided in and modified by this Amendment, the Employment Agreement is in all other respects hereby ratified and confirmed.  This Amendment shall be construed in accordance with the laws of the State of Delaware (without regard to principles of conflicts of law).  This Amendment may be executed in one or more counterparts (including by facsimile, “portable document format,” or other electronic means) each of which shall be deemed an original and all of which, taken together, shall constitute one and the same instrument.

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

GRIFFON CORPORATION
By:     /s/ Seth L. Kaplan    
Name:    Seth L. Kaplan 
Title:    Senior Vice President

    /s/ Ronald J. Kramer    ____________
Ronald J. KramerDocument

Exhibit 10.5

AMENDMENT NO. 1 TO SEVERANCE AGREEMENT

AMENDMENT NO. 1 TO THE SEVERANCE AGREEMENT (this “Amendment”) made as of April 28, 2022 by and between GRIFFON CORPORATION, a Delaware corporation (hereinafter “Griffon”) and Brian G. Harris (hereinafter, the “Executive”).
WITNESSETH:
WHEREAS, Griffon and the Executive entered into that certain Severance Agreement, dated as of July 30, 2015 (hereinafter, the “Severance Agreement”).
NOW, THEREFORE, the parties hereto agree to amend the Severance Agreement as follows, effective as of the date hereof.
1.Section 4(d)(i) shall be deleted in its entirety and replaced with the following: 
“(i) a lump sum payment, to be paid as soon as administratively feasible following the date on which the release becomes effective, and in any event within ten (10) days thereafter, equal to two and one-half (2.5) times the sum of (A) the Salary (disregarding any reduction in Salary that would constitute Good Reason) and (B) the average of the total bonuses paid to the Executive for each of the three Fiscal Years immediately prior to such termination; and”
2.Section 4(d)(ii) shall be deleted in its entirety and replaced with the following: 
“(ii) a pro-rata portion of the higher of (A) the actual bonus that the Executive received for the most recently completed Fiscal Year; or (B) the Target Bonus, to be paid as soon as administratively feasible following the date on which the release becomes effective, and in any event within ten (10) days thereafter; and”
3.The parties hereby agree that except as specifically provided in and modified by this Amendment, the Severance Agreement is in all other respects hereby ratified and confirmed.  This Amendment shall be construed in accordance with the laws of the State of Delaware (without regard to principles of conflicts of law).  This Amendment may be executed in one or more counterparts (including by facsimile, “portable document format,” or other electronic means) each of which shall be deemed an original and all of which, taken together, shall constitute one and the same instrument.

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

GRIFFON CORPORATION
By:     /s/ Seth L. Kaplan    
Name:    Seth Kaplan 
Title:    Senior Vice President

    /s/ Brian G. Harris    
        Brian G. Harris
2

			
	12691112.2

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